Spanish Broadcasting System Inc. (Nasdaq:SBSA) reported financial results for the three- and nine-months ended September 30, 2010. For the quarter ended September 30, 2010, consolidated net revenue totaled $34.6 million compared to $38.6 million for the same prior year period, resulting in a decrease of $4.0 million or 10%. This consolidated decrease was attributable to the decrease in our radio segment net revenue of $4.1 million or 12%. Our radio segment net revenue decreased due to national and local sales. The decrease in national sales occurred in all of our markets, with the exception of our Puerto Rico market. The decrease in local sales occurred in all of our markets, with the exception of our Puerto Rico and Miami markets. Our television segment net revenue increased $0.1 million or 2%, primarily due to an increase in local spot sales and integrated sales, offset by a decrease in paid programming. For the nine-months ended September 30, 2010, consolidated net revenue totaled $101.2 million compared to $103.4 million for the same prior year period, resulting in a decrease of $2.2 million or 2%. This consolidated decrease was attributable to our radio segment. The decrease in our radio segment net revenue of $2.6 million or 3% was primarily due to national sales, offset by an increase in special events. The decrease in national sales occurred in all of our markets, with the exception of our San Francisco market. The increase in special events occurred in our Puerto Rico and Los Angeles markets. Our television segment net revenue increased $0.4 million or 3%, primarily due to an increase in local spot sales and integrated sales, offset by a decrease in paid programming.
Spanish Broadcasting System, Inc. operates as a Hispanic-controlled media and entertainment company in the United States. It owns and operates 21 radio stations; and 2 television stations under MegaTV brand name. The company also operates LaMusica.com, Mega.tv, and its radio station Websites, which are Spanish and English Websites that provide content related to Latin music, entertainment, news, and culture. In addition, it produces live concerts and events.
Power3 Medical Products, Inc. (PWRM.OB)
Power3 Medical Products Inc. has signed a definitive agreement recently to acquire all of the stock of Rozetta-Cell Life Sciences, Inc. PWRM plans to effectuate the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into PWRM, with PWRM remaining as the surviving company in the merger.
Rozetta-Cell is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. The company has a robust intellectual property portfolio and has created numerous products for adult stem cell therapy that are ready for market globally. Rozetta-Cell also has several collaborations in process through which it is partnering with industry-leading adult stem cell research companies and adult stem cell vendors.
Power3 Medical Products, Inc. is a leading bio-technology company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases such as Alzheimer�s disease, Parkinson�s disease and amyotrophic lateral sclerosis (commonly known as ALS or Lou Gehrig�s disease). PWRM applies proprietary methodologies to discover and identify protein biomarkers associated with diseases.
To learn more about PWRM visit: http://www.Power3Medical.com
Biolase Technology, Inc. (Nasdaq:BLTI) the world’s leading dental laser company, announced that accounting veteran and former audit partner Frederick D. Furry has been appointed Chief Financial Officer, effective immediately, filling the vacant position. Furry will report directly to Chief Executive Officer Federico Pignatelli. Furry, 42, a resident of Huntington Beach and a certified public accountant with expertise in audit, U.S. Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) reporting, has more than 18 years experience working for accounting firms which include Windes & McClaughry, Pricewaterhouse Coopers and Miller, Kaplan, Arase & Co. “Fred’s financial skills and strong experience as a senior executive and Partner at major accounting firms will be an invaluable asset at BIOLASE as we continue on a path to return to growth and profitability,” said Pignatelli. “We have made significant progress in turning around the Company and are committed to controlling our costs and improving our balance sheet. This completes the appointment of an entirely new senior executive management team and new board of directors. We look forward to Fred’s contributions.”
BIOLASE Technology, Inc., a medical technology company, develops, manufactures, and markets lasers and related products and services focused on technologies for applications and procedures in dentistry and medicine. Its principal products are dental laser systems that allow general dentists, periodontists, endodontists, oral surgeons, and other specialists to perform a range of dental procedures, including cosmetic and complex surgical applications.
Eline Entertainment Group Inc. (EEGI.PK)
Eline Entertainment Group, Inc. recently released a statement from Mr. Sheng Chen, CEO of subsidiary Vu365:
“We at Vu365 are thrilled to team with EEGI. The web and casual gaming industry is one of the fastest growing leisure market sectors worldwide. Ours is an exciting company with a top-quality product that is only growing in popularity through the boom in online gaming. We expect this partnership with EEGI to raise the value of our company, as we are now able to expand our software development efforts to add to our already successful list of popular video game titles.
“We fully expect our existing revenues, currently in the $2 million USD range, to rise as the various projects we have in development, including an assortment of strategic web games, cyber games and 3-D large scale competitive games, land in the marketplace. These are exciting times for Vu365, and we look forward to a successful partnership with EEGI.”
EEGI will keep investors updated as to future news from Vu365.
Eline Entertainment Group, Inc. operates in the educational industry in China. EEGI operates 12 educational training centers for nursery students; and 4 training programs. EEGI was formerly known as Eline Music.com, Inc. and changed its name to Eline Entertainment Group, Inc. in April 2001. Eline Entertainment Group, Inc. is based in Hendersen, Nevada.
To learn more about EEGI visit: http://www.elineentertainment.com
ICOP Digital Inc. (Nasdaq:ICOP) an industry-leading company engaged in advancing digital surveillance technology solutions, announced the award of the statewide bid in Florida for in-car video solutions, integrated with new vehicle purchases. The bid for fire/rescue vehicles and other fleet equipment was coordinated by the Florida Chiefs Association, the Florida Sheriffs Association and the Association of Counties. This cooperative purchasing contract is available to any Law Enforcement, Fire/Rescue or Local Governmental Agency in the State to facilitate pre-determined pricing for new vehicle purchases. ICOP is the only in-car video provider selected for this contract. New vehicles purchased through the program that have opted for in-car video, will be delivered with the ICOP solution pre-installed.
ICOP Digital, Inc. engages in designing, engineering, and marketing video surveillance products for the public safety, military, and homeland security markets. It offers ICOP Model 20/20-W, a digital in-car video system for law enforcement; ICOP DVMS (digital video management system), which is the original backend solution for the ICOP Model 20/20-W, for video storage and management; and ICOP iVAULT MMS (media management system), which archives, searches, copies, and displays two video recordings simultaneously, as well as burns recorded events to DVD or CD.
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