Genesco Inc. (NYSE:GCO) reported earnings from continuing operations for the second quarter ended July 30, 2011, of $0.4 million, or $0.01 per diluted share, compared to a loss from continuing operations of $2.4 million, or $0.10 per diluted share, for the second quarter ended July 31, 2010. The fiscal 2012 second quarter results reflect pretax charges of $0.4 million, or $0.01 per diluted share after tax, related primarily to fixed asset impairments. Additionally, they reflect pretax compensation expense of $1.4 million, or $0.06 per diluted share, related to deferred purchase price payments in connection with the acquisition of Schuh Group Limited in June 2011, and pretax charges of $6.4 million, or $0.23 per diluted share after tax, in costs incurred in connection with the acquisition. As previously announced, because the obligation to pay the deferred purchase price for Schuh is contingent upon the continued employment of the payees, U.S. Generally Accepted Accounting Principles require that it be treated as compensation expense. The fiscal 2011 second quarter loss included pretax charges of $3.2 million, or $0.08 per diluted share, related to fixed asset impairments, purchase price accounting adjustments and other expense.
Genesco Inc., a Nashville-based specialty retailer, sells footwear, headwear, sports apparel and accessories in more than 2,375 retail stores throughout the U.S., Canada and the United Kingdom, principally under the names Journeys, Journeys Kidz, Shi by Journeys, Schuh, Lids and Lids Locker Room, Johnston & Murphy, and Underground Station, and on internet websites www.journeys.com, www.journeyskidz.com, www.shibyjourneys.com, www.undergroundstation.com, www.schuh.co.uk, www.johnstonmurphy.com, www.dockersshoes.com, www.lids.com, www.lids.ca, www.lidslockerroom.com, www.keukafootwear.com and www.lidsteamsports.com. The Company’s Lids Sports division operates the Lids headwear stores and the lids.com website, the Lids Locker Room and other team sports fan shops and single team clubhouse stores, and the Lids Team Sports team dealer business. In addition, Genesco sells wholesale footwear under its Johnston & Murphy brand, the licensed Dockers brand, Keuka, and other brands.
For more information on Genesco and its operating divisions, please visit www.genesco.com.
VoIP (Voice over Internet Protocol) is an IP telephony term for a set of facilities used to manage the delivery of voice information over the Internet. VoIP involves sending voice information in digital form in discrete packets rather than by using the traditional circuit-committed protocols of the public switched telephone network (PSTN). A major advantage of VoIP and Internet telephony is that it avoids the tolls charged by ordinary telephone service.
Crown Equity Holdings Inc., (CRWE.OB) is pleased to announce that it has entered into a joint venture to deploy VoIP (Voice over Internet Protocol) technology delivering voice, video and data services to residential and commercial customers. The joint venture company is Crown Tele Services Inc. which was a wholly-owned subsidiary of Crown Equity Holdings Inc. Crown Equity Holdings Inc. will own fifty percent (50%) interest in the joint venture.
Commenting on the joint venture, Kenneth Bosket, President of Crown Equity Holdings Inc., said: �We are excited to deliver VoIP communications solutions specifically designed to meet the business and residential market needs in this fast-growing global market.�
CRWE�s digital network is designed, on behalf of its clients, to bring together targeted high-income audiences and advertisers on its financial websites that include, among others, DrStockPick.com, PennyOmega.com, BestOtc.com, CRWEFinance.com, CRWESelect.com, CRWEPicks.com and StockHotTips.com.
Crown Equity Holdings Inc., together with its digital network, currently provides electronic media services specializing in online publishing, which brings together targeted audiences and advertisers.
Crown Equity Holdings Inc. offers internet media-driven advertising services, which covers and connects a range of marketing specialties, as well as search engine optimization for clients interested in online media awareness.
For more information, please visit: http://www.crownequityholdings.com
HEICO Corp. (NYSE:HEI) reported that net income increased 37% to a record $20,402,000, or 48 cents per diluted share, for the third quarter of fiscal 2011, up from $14,930,000, or 35 cents per diluted share, for the third quarter of fiscal 2010. For the first nine months of fiscal 2011, net income increased 38% to a record $54,306,000, or $1.28 per diluted share, up from $39,296,000, or 93 cents per diluted share, for the first nine months of fiscal 2010.Operating income increased 23% to a record $35,706,000 in the third quarter of fiscal 2011, up from $28,993,000 in the third quarter of fiscal 2010. For the first nine months of fiscal 2011, operating income increased 27% to a record $100,991,000, up from $79,494,000 in the first nine months of fiscal 2010. Our consolidated operating margin was 18.1% for the third quarter of fiscal 2011, compared to 18.3% for the third quarter of fiscal 2010. For the first nine months of fiscal 2011, our consolidated operating margin improved to 18.2%, up from 17.8% for the first nine months of fiscal 2010.
HEICO Corporation, through its subsidiaries, engages in the design, manufacture, and sale of aerospace, defense, and electronic related products and services in the United States and internationally.
American Tower Corporation (NYSE:AMT) announced that it has entered into an Agreement and Plan of Merger with American Tower REIT, Inc., which provides for, among other things, the merger of American Tower Corporation with and into American Tower REIT, Inc. As previously announced, the merger is one of the steps in the reorganization of American Tower�s business operations for the purpose of positioning itself to elect real estate investment trust (REIT) status for federal income tax purposes for the taxable year commencing January 1, 2012 (the �REIT Conversion�). Pursuant to the merger agreement, (i) American Tower Corporation will merge with and into American Tower REIT, Inc., with American Tower REIT, Inc. succeeding to and continuing to operate the existing business of American Tower Corporation and (ii) the outstanding shares of American Tower Corporation Class A common stock will be converted into the right to receive the same number of shares of American Tower REIT, Inc. common stock.
American Tower is a leading independent owner, operator and developer of broadcast and wireless communications sites. American Tower currently owns and operates over 38,000 communications sites in the United States, Brazil, Chile, Colombia, India, Ghana, Mexico, Peru and South Africa.
Southern Company (NYSE:SO) reported that executive vice president and chief financial officer, will deliver a presentation to investors and industry analysts during the Barclays Capital CEO Energy-Power Conference in New York City on Sept. 6. Beattie is scheduled to present a Southern Company overview from 1:05 p.m. to 1:40 p.m. EDT. Beattie’s presentation will be webcast and available for replay at http://investor.southerncompany.com. A copy of his presentation materials will also be available at this site.
Southern Company, through its subsidiaries, operates as a utility company that provides electric service in the southeastern United States. The company generates, transmits, and distributes electricity through coal, nuclear, oil and gas, and hydro resources.
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