SYNL (Video Update!), SFSF, PPR, MPW - Market News From PennyOmega.com!
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Synalloy Corporation (Nasdaq:SYNL), a producer of stainless steel pipe, fabricator of stainless and carbon steel piping systems, and producer of specialty chemicals, recorded sales of $40,241,000 for the fourth quarter of 2011, up 7% from 2010. Net earnings for the quarter were $1,017,000, or $0.16 per share, down 30% from the prior year. This compares to sales of $37,639,000 and net earnings of $1,462,000, or $0.23 per share, in the fourth quarter of 2010. For the year 2011, sales were $170,575,000, up 13% from sales of $151,121,000 in 2010. Net earnings for 2011 increased 44% to $5,797,000 or $0.91 per share compared to $4,034,000 or $0.64 per share for 2010.
Metals Segment
Sales increased 9% to $29,974,000 while operating income increased 35% to $1,948,000 in the fourth quarter of 2011 from the same period a year earlier. The sales increase resulted from a 16% increase in unit volumes partially offset by a 6% decrease in average selling prices.
Specialty Chemicals Segment
The Specialty Chemicals Segment’s revenues increased for the fourth quarter of 2011 by 2% compared to the fourth quarter of 2010. Sales for the year of 2011 were 1% higher than the prior year. Pounds shipped during the fourth quarter and total year of 2011 were 10% and 11% lower, respectively, than the same periods last year.
The Company’s cash balance was relatively unchanged during 2011, increasing from $109,000 at the end of 2010 to $110,000 as of December 31, 2011. As a result of the higher Metals Segment sales activity during the fourth quarter of 2011, compared to the same period of the prior year, combined with an increased number of days sales outstanding for fabrication, accounts receivable increased at December 31, 2011 by $6,609,000.
Synalloy Corporation, together with its subsidiaries, manufactures and sells pipes and piping systems in the United States and internationally. It operates in two segments, Metals and Specialty Chemicals.
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SuccessFactors, Inc. (NYSE:SFSF) announced that based on currently available, unaudited information, the Company expects fiscal 2011 fourth quarter GAAP revenue of approximately $97 million and non-GAAP revenue of approximately $100 million. The difference between GAAP and non-GAAP revenue is approximately $3 million associated with the net impact of acquisition related deferred revenue before fair value adjustment. Billings, defined as GAAP revenue plus change in deferred revenue, are expected to be approximately $144 million for the fourth quarter. Billings profit, defined as billings less non-GAAP cost of revenue and operating expenses, is expected to be approximately $44.5 million, which translates into a fourth quarter billings margin of 31 percent. Deferred revenue as of Dec. 31, 2011 is expected to be approximately $295 million. Cash flow from operations for the fourth quarter is expected to be approximately $24.0 million.
SuccessFactors, Inc. provides cloud-based business execution software solutions that enable organizations to bridge the gap between business strategy and results worldwide.
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ING Prime Rate Trust (NYSE:PPR) a diversified closed-end management investment company listed on the New York Stock Exchange, declared 3.00 cents per share monthly dividend on January 31, 2012 for the 31 days of January, payable on February 23, 2012 to shareholders of record on February 10, 2012. This represents the 285th consecutive monthly dividend since the Trust’s inception in May 1988.
ING Prime Rate Trust was the first Fund to invest in a portfolio of floating rate senior bank loans. The Trust seeks to provide as high a level of current income as is consistent with the preservation of capital.
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Medical Properties Trust, Inc. (NYSE:MPW) announced that the previously announced public offering of $200 million aggregate principal amount of senior notes due 2022 (the “Notes”) by its operating partnership, MPT Operating Partnership, L.P., a Delaware limited partnership (the “Operating Partnership”), and MPT Finance Corporation, a Delaware corporation and wholly owned subsidiary of the Operating Partnership (“MPT Finance,” and together with the Operating Partnership, the “Issuers”), priced with a coupon of 6.375%, at an issue price of 100%. J.P. Morgan, BofA Merrill Lynch, Deutsche Bank Securities and RBC Capital Markets are acting as joint book-running managers, KeyBanc Capital Markets and SunTrust Robinson Humphrey are acting as lead managers, and Raymond James and Morgan Keegan are acting as co-managers for the offering. The Notes will be senior unsecured obligations of the Issuers, guaranteed by the Company and by certain subsidiaries of the Operating Partnership.
Medical Properties Trust, Inc. operates as a real estate investment trust (REIT) in the United States. It acquires, develops, and invests in healthcare facilities; and leases healthcare facilities to healthcare operating companies and healthcare providers.
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