After Hours news:
PT (NASDAQ: PTIX), today announced its profitability for the fourth quarter 2011.
- Working capital position in the fourth quarter 2011 was $18.3 million including cash and investments amounting to $15.8 million
- Company had no long-term debt as the end of the fourth quarter 2011
- Revenue in the fourth quarter 2011 amounted to $9.1 million , compared to $6.8 million in the fourth quarter 2010. Revenue for 2011 amounted to $36.2 million , compared to $27.9 million for 2010
- GAAP net income in the fourth quarter 2011 amounted to $.5 million , or $.04 per diluted share, based on 11.1 million shares outstanding, including stock compensation expense of $.01 per share, amortization of purchased intangible assets of $.03 per share and write-off of software development costs of $.02 per share.
- The Company incurred a net loss in the fourth quarter 2010 amounting to ( $4.4 million ), or ($.39) per basic share, based on 11.1 million shares outstanding, including restructuring charges of $.09 per share, a discrete income tax provision of $.01 per share, stock compensation expense of $.01 per share, litigation expenses of $.03 per share and the write-off of software development costs of $.05 per share.
John Slusser , PT’s President and CEO, commented:
We are very pleased to report fourth-quarter GAAP profitability after a prolonged, challenging period. On a year-over-year basis, it is also gratifying to see meaningful revenue growth and very substantial bottom line performance improvement, which included a positive non-GAAP net income for 2011 of $0.13 per share. Our strategic investments in our product portfolio over the past two years combined with operational expense reduction initiatives are beginning to yield the intended results. While forward visibility remains challenging and quarterly performance is subject to variability, we will continue to work diligently to move the Company forward in 2012 with a clear focus on driving improved shareholder value.
PT is a global supplier of advanced network communications solutions to service provider, government, and OEM markets. The company’s award-winning products include IP-centric network elements and applications designed for high availability, scalability, and long lifecycle deployments. Over the years, PT has developed an impressive portfolio of communications offerings, through organic expansion as well as acquisitions. PT is headquartered in Rochester, NY, and maintains sales and engineering offices around the world.
Perla Group International Inc. (PERL) announced today that the company has reduced its outstanding shares from 484,856,368 to the new outstanding of 223,402,805 shares, represented by 2582 direct shareholders.
Also, the company has received 2 new armored vehicle contracts for February 2012 . These contracts expected to be completed in March and April 2012 totaling $665,000.00 . The company is now looking to expand on its existing client base, and looking to acquire new assets within the armored vehicle industry.
Also, the company is in the process of reviewing information on 2 possible acquisition targets for its aviation division. These companies operate in the aviation MRO/FBO industries, and are based in the USA . An acquisition in this area will further enhance the company’s target of establishing the AK1-3 helicopter well into the USA and Latin American markets.
Perla Group International, Inc.
USA Head Office
4737 N. Ocean Dr
Ft Lauderdale, FL 33308
Tel: +1 (954) 903 1966
Fax: +1 (954) 903 1965
Perla Group International Inc, (PERL) is an emerging leader in the international military, police and security solutions sectors. It was established with the vision to become the industry’s leading turnkey solutions developer and services provider. Perla Group’s success is built on a combination of the trust, backing and support of top industry specialists and a talented team’s unwavering commitment to service excellence. With its four divisions; Perla Aviation, Perla Armored Cars and Perla K-9 Services, it places Perla Group in a unique position to service many of its existing clients with value added services and attract key new clients.
NuPathe Inc. (NASDAQ: PATH) today announced that the United States Patent and Trademark Office (USPTO) has issued a notice of allowance for U.S. Patent application 11/183,232 entitled “Drug Containing Implants and Methods of Use Thereof.”
This application relates to a biodegradable polymer implant as well as novel methods of treating schizophrenia, bipolar disorder and other specified psychiatric disorders with the implant by delivering therapeutic levels of risperidone, 9-hydroxy-risperidone, or haloperidol for 20 to 190 days. Given this action, NuPathe expects the patent to issue within the next few months. Once issued, it will provide patent protection through January 2025 for NP202, NuPathe’s long-term biodegradable risperidone implant for the treatment of schizophrenia and bipolar disorder. NuPathe has additional licensed patent applications pending in the U.S. and other territories for NP202.
Jane Hollingsworth , CEO of NuPathe, commented:
Non-compliance with currently available medications is high and is one of the most common causes of relapse in schizophrenia. By delivering risperidone for an unprecedented three months in an easy-to-administer, biodegradable implant, we believe that NP202 will be a breakthrough for patients struggling with this disease.
NuPathe expects to file an Investigational New Drug application with the United States Food and Drug Administration in 2013.
227 Washington Street
Conshohocken, PA 19428
NuPathe Inc. is a biopharmaceutical company focused on innovative neuroscience solutions for diseases of the central nervous system including neurological and psychiatric disorders. NuPathe’s lead product candidate, NP101, is an active, single-use, transdermal sumatriptan patch being developed for the treatment of migraine. In addition to NP101, NuPathe has two proprietary product candidates in preclinical development: NP201 for the continuous symptomatic treatment of Parkinson’s disease and NP202 for the long-term treatment of schizophrenia and bipolar disorder. NuPathe is actively seeking partnerships to maximize the commercial potential for our pipeline products in the U.S. and territories throughout the world.