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Business News Archive - May 08, 2009

NIEUWEGEIN, The Netherlands, May 8 /PRNewswire-FirstCall/ -- - As of Today, the Voting Results of the Annual General Meeting of Shareholders Have Been Published on the Website of Ballast Nedam (http://www.ballast-nedam.nl) - All Proposals of the Management Board and the Supervisory Board Have Been Adopted With regard to voting item 9a "Designation regarding the issuance of shares", the President of the Supervisory Board has committed as follows. "If, based on this designation, shares have been issued for more than 20% of the issued capital, an Extraordinary General Meeting will be convened within 2 months after the issuance.

HARBIN, China, May 8 /PRNewswire-Asia-FirstCall/ -- Harbin Electric, Inc. (or the "Company", Nasdaq: HRBN), a leading Chinese developer and manufacturer of a wide array of electric motors, today announced its financial results for the first quarter of 2009. Financial Summary: First Quarter 2009 versus First Quarter 2008 1Q09 1Q08 YoY% Change Revenue $30,724,893 $22,458,185 36.8% Gross Profit $10,923,778 $10,759,477 1.5% Gross Profit Margin 35.6% 47.9% Operating Income $8,025,592 $8,635,823 (7.1%) Operating Margin 26.1% 38.5% Net Income $8,654,334 $5,353,236 61.7% Net Profit Margin 28.2% 23.8% Diluted EPS

~ Adjusted Net Income, after consideration of specific non-cash items, was $5.4 Million, or $0.43 per unit ~ HOUSTON May 8 /PRNewswire-FirstCall/ -- Vanguard Natural Resources, LLC (NYSE Arca: VNR) ("Vanguard" or "the Company") today reported financial and operational results for the quarter ended March 31, 2009.

ORANGE, Calif., May 8 /PRNewswire-FirstCall/ -- United Fuel & Energy Corporation (OTC Bulletin Board: UFEN), a leading distributor of gasoline, diesel and lubricant products to customers in the southwestern and south central U.S.

"This is our second congress with FMA congresses and this is much better than a traditional tradeshow. We're here with people that are decision makers, that are engaged.

- Cash flow from operations of $239.5 million, including $161.4 million tax refund - Quarter-end cash and investments of $1.61 billion - No borrowings on homebuilding line of credit - Pre-tax loss of $41.1 million; includes asset impairments of $14.6 million - Net loss of $40.9 million vs.

SHANGHAI, May 8 /PRNewswire-FirstCall/ -- JA Solar Holdings Co., Ltd.

Gold Production of 107,477 ounces at a Cash Cost of $396/ounce VANCOUVER, May 8 /PRNewswire-FirstCall/ - (All figures in US dollars except where noted) - Northgate Minerals Corporation (TSX: NGX; NYSE Amex: NXG) today reported net earnings of $21,410,000 or $0.08 per diluted common share and cash flow from operations of $45,202,000 or $0.18 per diluted common share for the first quarter of 2009.

ADJUSTED EBITDA IN LINE WITH FOURTH QUARTER RESULTS; AVAILABLE LIQUIDITY OF $1.1 BILLION THE WOODLANDS, Texas, May 8 /PRNewswire-FirstCall/ -- First Quarter 2009 Highlights Revenues for the first quarter of 2009 were $1,693 million, a decrease of 33% compared to $2,540 million for the first quarter of 2008 and a decrease of 17% compared to $2,048 million for the fourth quarter of 2008.As of March 31, 2009, we had $1,115 million of combined cash and unused borrowing capacity consisting of $473 million cash and $642 million available borrowings under our credit facilities.

Conference call scheduled for 8:00 a.m. Eastern Today HOUSTON, May 8 /PRNewswire-FirstCall/ -- Synthesis Energy Systems, Inc. (the "Company") (Nasdaq: SYMX), a global industrial gasification company, today announced results for the third quarter of fiscal 2009.

Word of the Day
abrosia
  • Wasting away as a result of abstinence from food.
The word 'abrosia' comes from a Greek roots meaning 'not' and 'eating'.