Titan Machinery (Nasdaq: TITN | Quote | Chart | News | PowerRating) $14.33. Today announced that it has entered into a definitive asset agreement to acquire the assets of Valley Equipment, Inc., a Case IH brand agriculture equipment dealership in Mayville, North Dakota. The acquisition is expected to close on June 30, 2009.
Located in the Red River Valley, Mayville is a progressive agricultural community with highly productive soils. Valley Equipment is strategically located between Titan Machinery's Grand Forks and Arthur stores. In its most recently reported fiscal year, Valley Equipment generated annual revenues of $2.6 million.
What They Do:
Titan Machinery Inc., founded in 1980 and headquartered in Fargo, North Dakota, is a multi-unit business with mature locations and newly acquired locations.
CryptoLogic Limited (Nasdaq: CRYP) $6.02. Today announced it has signed a multi-year agreement to provide at least 10 of its most popular online slot games to Sportingbet.com, one of the world's largest online gaming companies. Sportingbet.com is a top online provider of sports betting, casino games and poker, doing business in 22 languages in 30 markets across Europe, Australia, Canada and South America.The first set of games, both branded and non-branded, are scheduled to go live on Sportingbet.com in the latter part of 2009, with a complete roll-out of the full 10-game suite by the end of the year. The games will be made available through Gaming Technology Solutions plc (GTS), which provides the platform for many of the world's largest Internet gaming sites.
What They Do:
CryptoLogic Limited is a leading public developer and supplier of Internet gaming software.
Converted Organics (Nasdaq: COIN) $1.45. Today announced that the World Sports Alliance (WSA) notified the Company that the WSA and the African nation of the Republic of Guinea have agreed to utilize Converted Organics' High Temperature Liquid Composting (HTLC) technology and processes to produce organic fertilizer from food waste. The Republic of Guinea is the first of 24 WSA Member States to implement the WSA's Waste-to-Fertilizer program.
What They Do:
Converted Organics is dedicated to producing high-quality, all-natural, organic soil amendment and fertilizer products through food waste recycling.
School Specialty (Nasdaq: SCHS) $19.88, Today announced its fourth quarter and fiscal 2009 financial results. Revenue for the fourth quarter was $156.2 million, 10.1 percent below the prior year. Cost-savings initiatives, however, helped deliver a 10.9 percent improvement in the loss from continuing operations in the seasonally slow fourth quarter.
For the full-year, School Specialty's free cash flow was a record $101.3 million, an increase of 34.1 percent over fiscal 2008's $75.5 million. Fiscal 2009's free cash flow equates to $5.36 per share, based on year-end weighted average diluted shares outstanding, and includes approximately $11 million in cash tax savings from the sale of the company's media business in late fiscal 2008, and working capital improvements in fiscal 2009.
What They Do:
School Specialty is a leading education company that provides innovative and proprietary products, programs and services to help educators engage and inspire students of all ages and abilities to learn.
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