PWRM, KEYW- Company Stock Outlook from Stock-PR.com
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__ Stock-PR Reporting FREE Daily Stock Alerts From Stock-PR.com ________________________________________ Power3 Medical Products, Inc. (PWRM.OB) Power3 Medical Products, Inc. (OTC.BB:PWRM), a leading proteomics company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases, today announced that company management believes it is making great progress in its focus on the development, sales, and marketing of its proprietary innovate diagnostic tests for breast cancer, pancreatic cancer, ovarian cancer, colon cancer, and certain neurodegenerative diseases, such as Alzheimers and Parkinsons, to name a few..
In addition, Power3 is a party to several litigation matters, most of which relate to various toxic debt instruments that were entered into by Power3 several years ago when it operated under the tenure of Chairman and CEO, Steven B. Rash. Because current management believes these toxic debt instruments are responsible for Power3s depressed stock price and have distracted the company from its mission, Power3 plans to settle as many of these nagging lawsuits as possible prior to the completion of its merger with Rozetta-Cell Life Sciences, Inc. As for those lawsuits that cannot be speedily resolved, Power3 will continue to rigorously defend its position. For example, one such lawsuit involves Neogenomics, Inc., which was recently granted a motion for summary judgment with respect to an amount due under a convertible debenture. Power3 intends to appeal this decision.
We are very excited to be finally ridding ourselves of litigation that has plagued us for several years now, stated Ira L. Goldknopf, President and Chief Scientific Officer of Power3 Medical Products, Inc. We have big plans for the future beginning with our upcoming acquisition of Rozetta-Cell and are about to enter a long and substantial growth phase marked by advances in our science and intellectual property. Given the imminent nature of many of these transactions and breakthroughs, we have decided, in consultation with the financiers of Rozetta-Cell, that the best course of action for Power3 is to settle many of these lawsuits so that we can focus our attention exclusively on the acquisition of Rozetta-Cell and the development of our combined businesses after the merger.
Rozetta-Cell Life Sciences, Inc. is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. Power3 plans to effect the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3, with Power3 remaining as the surviving company. The acquisition of Rozetta-Cell is expected to be completed in February 2011.
The KEYW Holding Corporation (Nasdaq:KEYW) announces revenue for 2010 of $108.0 million as compared to $39.0 million in 2009, an increase of approximately 175%. Net and Total Comprehensive Income for 2010 was $10.9 million compared to a Loss for 2009 of ($2.1) million. Earnings Per Share (EPS) were $0.51 (diluted) for 2010 versus EPS for 2009 of ($0.18) (diluted). Income Before Income Taxes for 2010 was $18.7 million compared to Loss Before Income Taxes of ($3.1) million for 2009.
For Q4 of 2010, KEYW generated $29.3 million in revenue versus $12.1 million in the same period of 2009. Net income was $1.2 million and $0.4 million for the fourth quarters of 2010 and 2009, respectively. EPS for these same periods were $0.04 (diluted) in 2010 and $0.02 (diluted) in 2009. Revenue in Q4 2010 was below expectations due to delays in expected product orders during the quarter. Since the beginning of 2011, we have seen product orders return to prior quarter levels. Gross Margin (including both products and services) in Q4 was 29.1% which continues in-line with Gross Margin 29..2% across the full year 2010.
“2010 was a year of significant growth and accomplishment for KEYW,” commented Leonard Moodispaw, CEO and President of KEYW Corporation. “During 2010 we completed 4 acquisitions, increased our revenue by over 175%, and completed our initial public offering. We now have a workforce of over 700 people, approximately 80% of whom hold TS/SCI clearances, and have contracts with almost 50% of the Intelligence Community (IC) agencies. We begin 2011 with zero debt, a robust pipeline of strategic acquisition candidates, strong momentum in both our services and products businesses, and a clear focus and differentiation in delivering agile solutions to the IC`s toughest cyber challenges. With this momentum and our energized team, we believe 2011 will be another year of significant growth and accomplishment.” KEYW Adjusted EBITDA for Q4 2010 was $1.4 million, resulting in an Adjusted EBITDA margin of 4.6%. For 2010, our Adjusted EBITDA was $9.0 million and the Adjusted EBITDA margin was 8.4%. Adjusted EBITDA, as defined by KEYW, is a non-GAAP measure that is calculated as GAAP net income plus other non-recurring expense, interest expense, income taxes, and depreciation and amortization. We have provided Adjusted EBITDA because we use the measurement internally to evaluate performance and we believe it is a commonly used measure of financial performance in comparable companies. It is provided to help investors evaluate companies on a consistent basis, as well as to enhance an understanding of our operating results. In addition, our board of directors and management use Adjusted EBITDA:
* As a measure of operating performance; * To determine a significant portion of management`s incentive compensation; * For planning purposes, including the preparation of our annual operating budget; and * To evaluate the effectiveness of our business strategies.
Adjusted EBITDA is not a recognized term under U.S. GAAP and does not purport to be an alternative to net income as a measure of operating performance or the cash flows from operating activities as a measure of liquidity.. Please refer to the table below that reconciles GAAP net income to Adjusted EBITDA.
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