Trico Reports Favorable Second Quarter Results On Growth of Subsea Services Business Jul 30, 2009
02) Amortization of 3% convertible debt discount 1,445 0 ... 125% convertible debt discount 566 0 ... (2) Adjusted net income (loss) is calculated as net income (loss) adjusted for impact of impairments, impact of financial derivatives, refinancing costs, gain on sales of assets, gains on conversions of debt, amortization of 3% convertible debt discount, amortization of 8. (Primezone Releases)
Brandywine Realty Trust Announces Second Quarter 2009 Earnings and Increases FFO Guidance for 2009 Jul 29, 2009
On January 1, 2009, we adopted FSP APB 14-1, Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement), which requires retrospective application. This adoption impacts our exchangeable notes due 2026 with a put date in 2011 that had an outstanding balance of $264. (PR Newswire)
TSX Venture Exchange Daily Bulletins for July 24, 2009 Jul 25, 2009
27) in exchange for the convertible debt of Turkana. 3. (CCNMatthews Press Releases)
Standard Pacific Corp. Reports 2009 Second Quarter Results Jul 23, 2009
44) (95%) Weighted average common shares outstanding: Basic 93,134,612 72,418,288 29% 92,959,116 72,361,505 28% Diluted 240,947,398 72,418,288 233% 240,771,902 72,361,505 233% (1) Certain 2008 amounts have been retroactively adjusted to reflect the adoption of APB No. 14-1, "Accounting for Convertible Debt Instruments That May be Settled in Cash upon Conversion (Including Partial Cash Settlement)." STANDARD PACIFIC CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in... (PR Newswire)
Regulating banks: Appetite suppressant Jul 10, 2009
Although there are novel proposals to use insurance policies and convertible debt as capital, the immediate priority should be simplicity. Third, regulators need to be craftier when estimating the hit that capital must absorb. (The Economist)
Globalstar Completes $738 Million Financing Jul 1, 2009
The total financing combines a previously announced $586 million credit facility and registered direct offering of convertible debt and warrants for $55 million plus a deposit by Thermo Funding, the majority shareholder of Globalstar, of $60 million into a contingent equity account, and funding of a debt service reserve account. The $738 million financing fully funds the manufacture, delivery and launch of the Company's Globalstar 2. (Primezone Releases)
Google invests $2.6M more in 23andMe Jun 20, 2009
Prior to Google s latest investment, Google said in the filing, Brin invested $10 million in a 23andMe convertible debt financing. That was converted to preferred stock through 23andMe s recent fundraising. (San Jose Business Journal, CA)
First Nickel Arranges US$10 Million Convertible Working Capital Facility Jun 17, 2009
- For one year, the Company will not raise equity or convertible debt at a price less than the conversion price without the written consent of RCF.. - RCF will have the option to nominate one director to the Board of the Company, with a maximum of seven members, as long as the aggregate actual and/or prospective shareholding is greater than 10% of the issued shares of the company until December 31, 2013 or thereafter so long as any amounts due remain outstanding. (CCNMatthews Press Releases)
C&D Technologies Reports First Quarter Results Jun 5, 2009
00) (1) Certain items have been adjusted on these statements to reflect changes as required to present retroactive adoption of new accounting standards, Statement of Financial Accounting Standards No. 160, "Non- controlling interests in Consolidated Financial Statements - an amendment of Accounting Research Bulletin No. 51", and FASB Staff Position No. APB 14-1, "Accounting for Convertible Debt Instruments that May be Settled in Cash Upon Conversion (Including Partial Cash Settlements)." ... 01... (PR Newswire)
Cyberonics Reports Record Revenues and Profitability in Fiscal 2009 Jun 4, 2009
5 million of its outstanding convertible debt for total cash consideration of $1 ... 7 million of convertible debt ... 6 million of convertible debt for total cash consideration of $3. (PR Newswire)
Gold Horse International, Inc. Announces Results for Third Quarter Fiscal 2009 May 21, 2009
At quarter end, the Company had short-term debt, including the unamortized discount on the Company's convertible debt, of $3 ... 2 million of secured convertible debt, which management did not repay when it became due on March 31, 2009 ... 01 GOLD HORSE INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS As of As of March 31, June 30, 2009 2008 (Unaudited) ASSETS Cash and cash equivalents $190,211 $1,637,986 Accounts receivable, net 11,943,185 7,528,608 Note receivable,... (PR Newswire)
Advantage Announces 1st Quarter Results 2009 May 15, 2009
In addition, an income trust may replace debt that was outstanding as of October 31, 2006 with new equity or issue new, non-convertible debt without affecting the normal growth percentage ... If an income trust exceeds the established limits on the issuance of new trust units and convertible debt that constitute normal growth, the income trust will be immediately subject to the Specified Investment Flow-Through Entity tax legislation whereby the taxable portion of any distributions paid will be... (PR Newswire)
Javo Beverage Company Announces First Quarter Gross Profit Up 57%; Revenue Up 20% May 12, 2009
3 million reported in connection with warrants issued to Javo's senior convertible debt partially offset by a $0. 1 million reduction in non-cash interest expense for debt discount amortization related to the same convertible debt ... In addition, interest expense included accrued interest on its Senior Convertible Debt of $187,956 which was paid in April 2009. (Primezone Releases)
FMX Ventures Inc.: Financial Statements and MD&A for the 12 Months Ended December 31, 2008 May 9, 2009
Potential common shares consist of the potential shares issuable upon conversion of convertible debt using the converted method. (f) Revenue recognition. (CCNMatthews Press Releases)
Sonics net income down 87% May 9, 2009
That rule, which covers the handling of convertible debt, cost the company about $1. 4 million in the latest quarter. (Charlotte Business Journal, NC)
CapitalSource posts $104M loss May 8, 2009
lowered its allowance for loan losses and charge-offs last quarter but still sat deep in the red, affected by a convertible debt for equity exchange ... Loss on debt extinguishment was $57 million for the quarter, compared to a loss of $24 million in the prior quarter, mostly due to the convertible debt exchange during the quarter. (Washington Business Journal, DC)
Cell Therapeutics Reports 76% Decrease in First Quarter 2009 Net Loss Attributable to Common Shareholders; Completion of Pixantrone NDA Submission on Track for Second Quarter 2009 May 7, 2009
68) ====== ====== Shares used in calculation of basic and diluted net loss per common share (1) 285,525 7,107 ======= ===== Balance Sheet Data: (amounts in thousands) March 31, December 31, 2009 2008 ---- ---- (unaudited) Cash and cash equivalents and securities available-for-sale $748 $10,671 Restricted cash - 6,640 Working capital (22,776) (14,141) Total assets 42,933 64,243 Convertible debt 119,030 142,373 Accumulated deficit (1,325,444) (1,312,320) Total deficit (115,984) (132,061) (1)... (PR Newswire)
Global Industries, Ltd. Announces Results for the First Quarter of 2009 May 7, 2009
FSP APB 14-1, "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" became effective for our Company beginning January 1, 2009 and is applied retrospectively to all periods presented in this news release. Set forth are our Company's results of operations for the periods indicated. (PR Newswire)
HCC Insurance Holdings Reports Earnings for the First Quarter of 2009 May 6, 2009
The Company's outstanding convertible debt issue was subject to a put option that expired on April 1, 2009. Investors elected to hold these securities and, therefore, they remain outstanding. (Primezone Releases)
Trico Reports First Quarter Results and Favorable Outlook for Subsea Sector May 5, 2009
5% convertible debt and a one-time $18 ... During the first quarter of 2009, the Company converted $23 million of convertible debt into equity and drew down $31 million under its credit facilities. (Primezone Releases)
CACI Announces New Ticker Symbol on New York Stock Exchange May 1, 2009
and termination risks; the results of government investigations into allegations of improper actions related to the provision of services in support of U.S. military operations in Iraq; individual business decisions of our clients; paradigm shifts in technology; competitive factors such as pricing pressures and/or competition to hire and retain employees (particularly those with security clearances); material changes in laws or regulations applicable to our businesses, particularly in connection... (PR Newswire)
First Industrial Realty Trust Reports First Quarter 2009 Results May 1, 2009
Additionally, on January 1, 2009, the Company adopted Staff Position No. APB 14-1 "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" ("FSP APB 14-1") that requires the liability and equity components of convertible debt instruments to be separately accounted for in a manner that reflects the issuer's nonconvertible debt borrowing rate. FSP APB 14-1 requires that the value assigned to the debt component be the estimated... (PR Newswire)
BioMed Realty Trust Reports First Quarter 2009 Operating and Financial Results Apr 30, 2009
Financial information for the current and, where applicable, prior periods has been presented to reflect the application of the following new accounting guidance adopted by the company effective January 1, 2009: FASB Staff Position APB 14-1 "Accounting for Convertible Debt That May be Settled Upon Conversion (Including Partial Cash Settlement)"; Statement of Financial Accounting Standard No. 160 "Noncontrolling Interests in Consolidated Financial Statements - An Amendment of ARB No. 51"; and... (PR Newswire)
ProLogis Reports First Quarter 2009 Results Apr 30, 2009
(1) In May 2008, the Financial Accounting Standards Board ("FASB") issued FASB Staff Position APB 14-1 "Accounting for Convertible Debt Instruments that May Be Settled in Cash Upon Conversion (Including Partial Cash Settlement)" ("FSP APB 14-1"), that requires separate accounting for the debt and equity components of convertible debt. The value assigned to the debt component is the estimated fair value of a similar bond without the conversion feature at the time of issuance, which would result... (PR Newswire)
Newmont Generates First Quarter Net Cash From Continuing Operations of $387 Million ($0.82 per share); Maintaining 2009 Outlook Apr 30, 2009
82 per share); Maintaining 2009 Outlook. Project execution is also going well and is a clear focus for the balance of the year. (Canada Newswire)
Massey Energy Reports First Quarter 2009 Operating Results Apr 29, 2009
66 ====== ====== ====== Note 5: On January 1, 2009, the Company adopted Financial Accounting Standards Board ("FASB") Staff Position ("FSP") Accounting Principles Board ("APB") 14-1, "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" (FSP APB 14-1") for the 3.25% Notes issued in August 2008. This FSP indicated that convertible debt instruments that may be settled in cash upon conversion, including partial cash settlement,... (PR Newswire)
WRIT reports strong first quarter Apr 29, 2009
By counting certain other gains like the repurchase of its own convertible debt net income overall more than tripled for the first quarter. The company reported net income of $10. (Baltimore Business Journal, MD)
China Wind Systems, Inc. Reports Fourth Quarter and Fiscal 2008 Results Apr 1, 2009
9 million non-cash preferred deemed dividend from the issuance of stock warrants upon conversion of convertible debt into series A preferred stock and $2 ... 9 million non-cash preferred deemed dividend from the issuance of stock warrants upon conversion of convertible debt into series A preferred stock and warrants ... 9 million non-cash preferred deemed dividend from the issuance of stock warrants upon conversion of convertible debt into series A preferred stock. (PR Newswire)
Waytronx Announces 2008 Financial Results Apr 1, 2009
For the year ended December 31, 2008 Net loss $(1,830,367) Plus: Interest expense - including amortization of beneficial conversion value, warrant related debt discounts and intrinsic value of convertible debt and amortization of debt discount 2,342,374 Plus: Interest expense 1,362,416 Plus: Depreciation and amortization 523,706 EBITDA $2,398,129. EBTIDA does not represent funds available for management's discretionary use and is not intended to represent cash flow from operations. (PR Newswire)
Pure Earth, Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2008 Apr 1, 2009
The second area that we focused on was the restructuring of our rock crushing operations, which we believe should result in profitability for the Materials segment in 2009," Mr. Alsentzer stated. The following table presents a reconciliation of net income (loss), which is our most directly comparable GAAP operating performance measure, to EBITDA for the three months and years ended December 31, 2008 and December 31, 2007: For the Three For the Year Months Ended Ended December 31, December 31,... (PR Newswire)
Providence Service Corporation Releases Fourth Quarter and Audited Year End 2008 Results Mar 28, 2009
6 million shares that would be deemed outstanding if the effect of the Company's $70 million convertible debt is considered dilutive). This is based on unaudited January and February results. (PR Newswire)
China Housing & Land Development Reports Year 2008 Results Mar 26, 2009
As explained above, the decrease in net income was due primarily to the absence of a land sale, fewer projects and units in the sales cycle, lower gross profit, higher selling, general, and administrative expenses, the restricted common stock issued in 2008 as incentive compensation for the year 2007, and accretion on convertible debt, partly offset by the change in the fair value of warrants and embedded derivatives and the tax settlement in fourth quarter of 2008 ... CHINA HOUSING & LAND... (PR Newswire)
Taseko Announces Record Quarterly Production and 2008 Year End Results Mar 25, 2009
" Key highlights during the quarter and year include: - Gibraltar produced a record 18.8 million pounds of copper for the three months ending December 31, 2008, as a result of increased throughput achieved by completion of the Phase 1 mill expansion. - For the three months ending December 31, 2008, the average realized price, before provisional pricing adjustments, for copper was US$1.61 per pound and for molybdenum was US$19.96 per pound. - For the fiscal year, the average realized price for... (PR Newswire)
Providence Service Corporation Indicates Impairment Testing Not Yet Complete; Postpones Conference Call Until March 30, 2009 Mar 21, 2009
8 million if the effect of the Company's $70 million of outstanding convertible debt is dilutive). Guidance for the first quarter of 2009 includes approximately $1. (PR Newswire)
Advantage Announces Release of Fourth Quarter and Year Ended December 31, 2008 Financial Results Mar 19, 2009
In addition, an income trust may replace debt that was outstanding as of October 31, 2006 with new equity or issue new, non-convertible debt without affecting the normal growth percentage ... In addition, an income trust may replace debt that was outstanding as of October 31, 2006 with new equity or issue new, non-convertible debt without affecting the normal growth percentage ... If an income trust exceeds the established limits on the issuance of new trust units and convertible debt that... (PR Newswire)
Eddie Bauer Reports Fourth Quarter and Fiscal 2008 Results; Company is in Discussions on Term Loan Amendment Mar 19, 2009
Adjusted EBITDA (earnings before interest expense, income taxes, depreciation and amortization), excluding the fair value adjustments on the Company's convertible debt and certain other non-recurring and non-operational items for the full year, increased by $10. 8 million to $52. (PR Newswire)
AAR Reports Slight Increase in EPS for Third Quarter Mar 18, 2009
09 Shares outstanding 38,697 38,773 Sales By Business Segment Three Months Ended Nine Months Ended (In thousands - unaudited) February 28/29, February 28/29, 2009 2008 2009 2008 Aviation Supply Chain $138,737 $151,227 $438,333 $438,719 Maintenance, Repair & Overhaul 76,951 74,765 250,698 206,091 Structures and Systems 120,033 110,452 351,514 266,733 Aircraft Sales and Leasing 3,071 40,182 11,723 81,690 $338,792 $376,626 $1,052,268 $993,233 Gross Profit (Loss) By Business Segment Three Months... (PR Newswire)
Vista Gold Corp. Announces Year-End Financial Results Mar 14, 2009
Mike Richings, Executive Chairman and CEO, commented on the 2008 financials: "This year's financial results largely reflect Vista's significant advances on its two major projects. The decision to increase expenditures and investments in the Paredones Amarillos project was made at the end of 2007. At the time we were completing the bankable feasibility study on the project, major equipment was in short supply. We decided to purchase the major items of processing equipment from a mill that was... (PR Newswire)
Primaris Retail REIT Announces Fourth Quarter and Annual Financial Results Mar 11, 2009
513) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- PRIMARIS RETAIL REAL ESTATE INVESTMENT TRUST Interim Consolidated Statements of Cash Flows (In thousands of dollars) Years ended December 31, 2008 and 2007 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 2008 2007... (CCNMatthews Press Releases)
Alesco Financial Inc. Announces Fourth Quarter and Fiscal Year End 2008 Financial Results Mar 5, 2009
1 million due to the repurchase and retirement of a portion of the Company's convertible debt ... 0 million due to the repurchase and retirement of a portion of the Company's convertible debt ... Net Change in Fair Carrying Description Amortized Cost Value (2) Amount December 31, 2008: Non-recourse indebtedness: Trust preferred obligations $385,600 $(265,191) $120,409 Securitized mortgage debt 844,764 - 844,764 CDO notes payable (1) 8,449,072 (6,106,152) 2,342,920 Warehouse credit facilities... (PR Newswire)
PhotoMedex buys Photo Therapeutics Mar 3, 2009
Perseus, a private equity fund management company based in Washington, D.C., provided $18 million to PhotoMedex, in the form of a convertible debt investment, to finance the deal. From that amount, $13 million was allocated for the purchase price and the other $5 million will be used for working capital. (Philadelphia Business Journal, PA)
Central European Distribution Corporation Announces Full Year 2008 Results; Net Sales up 38% and Operating Income up 68% Mar 2, 2009
D. In May 2008, the FASB issued FSP APB 14-1, which impacts the accounting treatment for convertible debt instruments that allow for either mandatory or optional cash settlements. FSP APB 14-1 will impact the accounting associated with our $310. (PR Newswire)
Integra LifeSciences Reports 2008 Financial Results Mar 2, 2009
Our 2009 GAAP earnings per share guidance includes the impact of the application of Financial Accounting Standards Board Staff Position No. APB 14-1, Accounting for Convertible Debt Instruments that May be Settled in Cash Upon Conversion (``FSP APB 14-1''), which we implemented on January 1, 2009. FSP APB 14-1 requires that we separately account for the liability and equity components of our convertible debt instruments, which may be settled in cash upon conversion, in a manner that reflects an... (Primezone Releases)
GMX Resources Inc. Reports Fourth Quarter and Annual 2008 Financial and Operating Results Feb 27, 2009
Common shares loaned in connection with the convertible debt offering in the amount of 3,440,000 shares as of December 31, 2008 were not included in the computation of earnings per common share. While the borrowed shares are considered issued and outstanding for corporate law purposes, the Company believes that the borrowed shares are not considered outstanding for the purposes of computing and reporting earnings per share under GAAP currently in effect because the shares lent pursuant to the... (Primezone Releases)
Human Genome Sciences losses less severe Feb 27, 2009
2 million of its outstanding convertible debt at the discount price of $50 million, a move analysts praised ... The Rockville company had previously posted as much as $510 million in convertible debt, bills that would come due in 2011 and 2012. (Washington Business Journal, DC)
Kendle sees drop in 4Q profits, stock price Feb 26, 2009
Excluding the effect of APB 14-1, a new accounting rule for convertible debt, pro forma earnings per share are expected to be in the range of $2. 01 to $2. (Cincinnati Business Courier, OH)
Nektar Therapeutics Reports Fourth Quarter and Year-End 2008 Financial Results Feb 25, 2009
"Using our unique polymer conjugation chemistry platform, we advanced numerous proprietary drug candidates into clinical and preclinical development. Further, we significantly strengthened our financial position with the sale of pulmonary delivery assets and the buy-back of $100 million of convertible debt at a substantial discount. Nektar is exceptionally well-positioned as we enter 2009.". Fourth Quarter and Year-End 2008 Financial Results. (PR Newswire)
Newmont Reports Record Annual Revenues in 2008 of $6.2 Billion; 50% Increase in Adjusted Net Income(1) Feb 19, 2009
2009 Annual Outlook - As a result of adopting a recent accounting pronouncement related to the accounting treatment for convertible debt instruments, FSP APB 14-1, the Company expects its interest expense in 2009 to increase by approximately $55 million as a result of non-cash interest expense related to the treatment of the conversion feature for the Company's 2012, 2014 and 2017 convertible notes. The table below sets forth the Company's current annual outlook and forecast assumptions: > > >... (Canada Newswire)
Navios Maritime Holdings Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2008 Feb 19, 2009
3-year term convertible debt for $33. 5 million with a coupon of 2% and a conversion price of $11. (PR Newswire)
Cyberonics Continues Strong Sales Growth and Profitability in Fiscal 2009 Third Quarter Feb 19, 2009
8 million of its outstanding convertible debt for total cash consideration of $13 ... 2 million of convertible debt ... Although the gain on early extinguishment of the convertible debt is included in the calculation of net income, it is excluded from the calculation of net income per diluted share as per the applicable accounting rules. (PR Newswire)
Core Lab Reports Record Net Income and EPS for Q4 2008; Annual Free Cash Flow at All-Time High; Company Repurchases Discounted Debt Feb 12, 2009
The Company will implement FASB Staff Position No. APB 14-1 (APB 14-1) beginning in the first quarter of 2009 as mandated by the FASB. APB 14-1 determines accounting treatment for convertible debt instruments that may be settled partially, or fully, in cash. Core currently has approximately $239,000,000 of Notes outstanding that mature on 31 October 2011 and have an interest rate coupon of 0. (PR Newswire)
ProLogis Reports Fourth Quarter and Full-Year 2008 Results Feb 10, 2009
(7) The following table presents the components of interest expense as reflected in our Consolidated Statements of Operations (in thousands): Three Months Ended Twelve Months Ended December 31, December 31, 2008 2007 2008 2007 Gross interest expense $117,114 $119,351 $477,933 $487,410 Amortization of discount (premium), net 891 (984) (702) (7,797) Amortization of deferred loan costs 3,619 2,728 12,759 10,555 Interest expense before capitalization 121,624 121,095 489,990 490,168 Less: capitalized... (PR Newswire)
