GTSI receives $20 million in cash for interest
Sale settles related disputes between companies
GTSI Corp. (NASDAQ:GTSI), a systems integrator, solutions and services provider to the government, announced that it has sold its 37% ownership interest in Eyak Technology, LLC (EyakTek) to EyakTek for $20 million in cash.
On August 19, 2011, GTSI entered into a Settlement and Redemption Agreement with The Eyak Corporation, Global Technology Group, LLC and EyakTek to sell GTSI�s interest in EyakTek and to settle the pending arbitration proceedings and litigation with EyakTek and its officers and other owners, as well as other related disputes between GTSI and EyakTek and the other owners of EyakTek.
�Our Board of Directors believed the timing was right for GTSI to liquidate this investment based on the terms of the Settlement, and to resolve all disputes with EyakTek and its owners. As a result of this settlement, we will have the opportunity to redeploy this capital by investing in more critical areas of the business. We believe this decision is in the best interest of GTSI and its shareholders, and will contribute to our alignment for growth,� said Sterling Phillips, GTSI�s Chief Executive Officer and President.
GTSI is a leading provider of technology solutions to federal, state, and local governments. Founded in 1983, the company has helped meet the unique IT needs of more than 1,700 governmental agencies nationwide. GTSI professionals draw on their deep knowledge, strategic partnerships, more than 740 industry certifications, and customer service to guide agencies in selecting the most cost-effective technology available. GTSI has extensive capabilities and past performance in data center, networking, collaboration, security, and cloud computing solutions. In addition, GTSI�s advanced engineering, integration, support, and financial services — and broad portfolio of contracts — ease the planning, purchasing, and deployment of solutions, and facilitates the management of mission-critical IT throughout the lifecycle. Headquartered in Herndon, Va., GTSI has approximately 400 employees and reported revenue of $666.7 million for the 12 months ended Dec. 31, 2010.
For more information visit the company�s website at www.gtsi.com.
Primus Guaranty, Ltd. (NYSE:PRS) announced its financial results for the second quarter ended June 30, 2011. GAAP net income available to common shares for the second quarter 2011 was $61.1 million, or $1.62 per diluted share, compared with a GAAP net loss available to common shares of $188.4 million, or $4.84 per diluted share, for the second quarter 2010. GAAP net income available to common shares for the second quarter 2011 was driven by a net unrealized mark-to-market gain of $57.5 million on Primus Financial Products, LLC (”Primus Financial”)’s consolidated credit swap portfolio.
Primus Guaranty, Ltd., through its subsidiaries, operates as an investment manager and as a credit derivative product company
Oxford Resource Partners, L.P. (NYSE:OXF) announced financial results for the second quarter and first half of 2011. Net loss for the second quarter of 2011 was $6.3 million, or $0.30 per diluted limited partner unit, compared to a net loss for the second quarter of 2010 of $2.1 million, or $0.18 per diluted limited partner unit. Total revenue was $98.0 million for the second quarter of 2011, up 8.7% from $90.1 million for the second quarter of 2010. Adjusted EBITDA was $11.2 million for the second quarter of 2011, compared to $11.3 million for the second quarter of 2010.
Oxford Resource Partners, LP, together with its subsidiaries, engages in the production of steam coal and surface mined coal in the United States.
Crown Equity Holdings, Inc. (CRWE)
Crown Equity Holdings Inc. (CRWE) 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.
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.”
Internet marketing has many advantages that make it an attractive way to promote a business. It is fairly inexpensive, especially when compared to other forms of advertising, when it comes to the ratio of cost for reaching a target audience. Businesses are able to access a gigantic viewer base for a small amount of money, and consumers are able to look into and purchase products when it is convenient for them. This in turn allows businesses to convert their advertising into sales much more quickly than ever before. The general marketing plan for an online business (or a business that buys advertising online) is dependent on the cost volume profit analysis.
Crown Equity Holdings Inc’s selection of Core Link reflects recent diversification beyond CRWE’s original charter as a provider of services and knowledge to small business owners taking their own companies public. In addition to these services, Crown Equity Holdings Inc has transitioned into a multifaceted media organization that publishes clients’ news online; sells advertising adjacent with its digital network targeted at a high-income audience; designs, hosts and maintains websites; produces marketing videos from concept to final product; crafts press releases and articles for maximum SEO; develops email campaigns; and forges branding campaigns to bolster client company images.
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, visit http://www.crownequityholdings.com
SouFun Holdings Ltd. (NYSE:SFUN) announced its unaudited financial results for the second quarter and half year ended June 30, 2011. Revenues grew 93.0% to US$80.6 million compared to the second quarter of 2010, and a 117.0% year-over-year increase excluding the effect from prepaid card business. Operating income was US$36.9 million, an increase of 305.3% compared to the second quarter of 2010. Non-GAAP operating income was US$38.3 million, an increase of 245.0% compared to the second quarter of 2010.
SouFun Holdings Ltd. provides marketing, listing, technology, and information consultancy services to real estate and home furnishing industries in the People’s Republic of China.
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