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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Rise in homes seized by lenders

Category : Business

The number of UK homes repossessed in the first three months of the year rose slightly compared with the previous quarter, lenders say.

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Debt worries ‘feature payday loans’

Category : World News

Twice as many people who sought help with debts in 2012 had payday loans compared with a year earlier, a charity says.

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Does JPMorgan suffer from Dimon discount?

Category : Business

Shares of JPMorgan Chase have underperformed compared to other big banks. Would it do better if Jamie Dimon gave up the chairman title?

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UK house prices ‘rise by 1.1%’

Category : Business

House prices rise by 1.1% in April compared with the previous month but activity in the market remains subdued, according to the Halifax.

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Global air travel ‘rises by 5.9%’

Category : Business, World News

The International Air Transport Association (Iata) says air passenger travel grew by 5.9% in March compared with a year earlier, boosted by emerging markets.

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House prices ‘alter little in March’

Category : Business

UK house prices fell by 0.1% in April compared with the previous month, according to a survey by the Nationwide.

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House prices ‘continue modest rise’

Category : Business, World News

House prices over the first three months of the year rose by 1.1% compared with the same period last year, says the Halifax.

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China Education Alliance, Inc. (CEAI: OTCQX U.S.) | China Education Alliance Announces Fourth Quarter and Full Year 2012 Financial Results

Category : World News

HARBIN, China, April 2,
2013
/PRNewswire/ — China Education Alliance, Inc. (“China Education
Alliance” or the “Company”, OTCQX: CEAI), a China-based education resource and services company
today announced its fourth quarter and full year 2012 results. The Company will
host a conference call on Tuesday, April 2, 2013, at
8 a.m. EDT (8 p.m. Beijing time on the same day).

Financial Highlights for the Fourth Quarter ended December 31, 2012

  • Total revenues were $1.8 million.
  • Gross loss was $0.4 million.
  • Operating loss was $4.0 million
  • Net loss was $3.4 million.
  • EPS was $(0.32) per fully diluted
    share.

Financial Highlights for Full Year 2012

  • Total revenue was $11.7 million compared to
    $34.8 million in 2011.
  • Gross profit was $1.6 million compared to $24.1 million in 2011.
  • Operating loss was $14.4 million compared to
    operating income of $5.0 million in 2011.
  • Net loss was $14.1 million compared to $6.1 million in 2011.
  • Loss per share was $1.33 per fully diluted share
    compared to earnings per share of $0.58 in 2011.

“Our business continued to face significant challenges in 2012 due to the
continuing economic uncertainty lingering over China‘s economy and more intense competition in the
domestic education business which directly impacted our financial results”
commented Mr. Xiqun Yu, Chairman and Chief
Executive Officer of China Education Alliance. “While we are disappointed with
the results, we are optimistic about our future as we continue to work
diligently to build a new model for our online business and expanding our
training center network.”

“The new online platform we have been developing for some time and which, in
effect, is an online mall for education content is in its final testing stage. A
number of schools have contributed content to the trial runs and I am satisfied
with the progress accomplished so far. Once officially launched, sometime this
year, the new platform will act as a digital marketplace for a wide array of
proprietary educational products developed by China Education Alliance in
addition to content from third party developers and educational institutions. As
the growth and adoption of e-commerce platforms in China continue to surge, we are confident that this new
business model will significantly enhance user experience, substantially improve
educational options for a wide population of students, and give us a definite
competitive advantage.”

Mr. Yu concluded, “While this investment will take time to fully yield
results, we are excited about the future opportunities and growth potential of
our new approach to online education and are generally positive about our
business prospects for the future.”

Fiscal Year 2012 Review:

Revenue decreased by $23.0 million, or 66% to
$11.7 million for the full year 2012 from $34.8 million in 2011. The decline in revenue for the year
ended December 31, 2012 was a result of decline in
revenue across all of our business. We believe revenue was affected by external
factors including slowdown in economic growth within the PRC, untruthful
allegations about our businesses, and increased competition. These factors
contributed to the continuous decline in interest of existing and new students,
which resulted in decrease in student enrollments and led to a decline in
revenue as compared to the year ended December 31,
2011
. We expect to improve the performance of our online education
division in the future by providing students with more competitive, up-to-date
study materials and easy access. We have contracted technology companies to
design a new web-based platform providing video based long-distance teaching
services which encompass online community system and online teaching management
system. Additionally, we are seeking to establish more onsite training centers
and optimize the operation of existing training centers. As such, we predict
that our revenue will gradually recover after we launch the new web-based
platform and set up more training centers.

Revenue from the on-line education division decreased by $15.3 million, or 77%, to $4.5
million
in 2012 from $19.8 million in 2011.

Revenue from the training center division decreased by $7.8 million, or 52%, to $7.2
million
in 2012 from $15.0 million in 2011.

Total cost of revenue decreased by $0.6 million,
or 5%, to $10.1 million in 2012 from $10.7 million in 2011.

Cost of revenue for the online education division increased by $0.3 million, or 4% in 2012 to $7.2
million
compared with $6.9 million in 2011.
This increase was mainly attributable to the purchase of new examination papers,
tutorial materials, new servers and computers. In order to keep the online
education material up-to-date and competitive, the Company must constantly
purchase new study materials. Gross profit margin for the online education
division decreased to negative 59% of revenue in 2012 from 65% of revenue in
2011 due to the decrease in revenue and increase in cost of revenue.

Cost of revenue for the training center division decreased by $0.9 million, or 23% to $2.9
million
in 2012 from $3.8 million in 2011.
The decrease in cost of revenue for the training center division was primarily
due to the decrease in revenue. However, cost of revenue did not decrease in
proportion to the decrease in revenue as a result of increase in salaries. In
order to improve the performance of the training center division, the Company
offered higher salaries to retain reputable teachers. Increases in salary for
non-faculty staff also contributed to the increase in salaries paid. Gross
profit margin for the training center division decreased to 60% of revenue from
75% in 2011 as a result of the decrease in revenue and increase in salary for
both reputable teachers and non-faculty staff.

Gross profit for the full year 2012 was $1.6
million
compared to $24.1 million in
2011.

Selling expenses decreased by $4.9 million, or
46%, to $5.8 million in 2012 from $10.7 million in 2011. Selling expenses were 50% of total
revenue in 2012 compared with 31% in 2011. The decrease in selling expenses was
mainly due to the decrease in revenue. The Company’s sales commissions decreased
dramatically as a result of significant drop in revenue. However, advertising
expenses increased by $2.1 million, or 326% due to
increased promotional activities.

Administrative expenses increased by $1.4
million
, or 26% to $6.9 million in 2012 from
$5.5 million in 2011. The increase in
administrative expenses was primarily due to the increase in research and
development expenses relating to the development of the web based platform.
Total administrative expenses were 59% of total revenue.

Interest income remained flat at $1.9 million for
both full year 2011 and 2012.

Provision for income tax was nil and deferred tax expenses were $0.3 million for the fiscal year ended December 31, 2012, as compared to the deferred tax
benefits of $0.1 million for the fiscal year ended
December 31, 2011.

Net loss for the year of 2012 was $14.1 million
compared to net income of $6.1 million in 2011.
Basic and diluted loss per share was $1.33 in 2012
compared to earnings per share of $0.58 in 2011. The
decrease in earnings per share was mainly due to the decrease in net income. The
basic weighted average shares outstanding and diluted weighted average shares
outstanding were 10,582,530 in 2012, and 10,572,388 and 10,577,966, respectively
in 2011.

Financial Position

At December 31, 2012, the Company had cash and
cash equivalents of $64.2 million. The Company
generated net cash provided by operating activities of $8.3
million
.

At December 31, 2012, the Company had no
long-term debt.

Conference Call

China Education Alliance will host a conference call and live webcast at
8 a.m. Eastern Daylight Time (EDT) on April 2, 2013 (8 p.m. in Harbin/Beijing on the
same day).

The dial-in details for the live conference call are as follows:

- Participant Dial In (Toll Free USA):
1-866-519-4004
- International Dial In: +65-6723-9381
- China Toll Free:
8008-190-121
- Hong Kong Toll Free: 8009-30346
Conference Password:
CEU

A live webcast of the conference call will be available in the investor
relations section of the Company’s website at: http://www.chinaeducationalliance.com/index.jsp

A telephone replay of the call will be available 1 hour after the end of the
conference for seven days.

The dial-in details for the replay are as follows:

- US Toll Free: +1-855-452-5696
- International Toll:
+61-2-8199-0299
Passcode Number: 31478528

About China Education Alliance, Inc.

China Education Alliance, Inc. (http://www.chinaeducationalliance.com) is a leading
educational services company offering high-quality instructors and online
education materials for students between the ages of 6 to 18 and adults
(university students and professionals) aged 18 and over. Divided into two
segments, students and graduate professionals, our business model delivers the
skills and knowledge necessary to excel in a rapidly growing and highly
competitive China. The Company provides students
in the first segment with online education materials sourced from top tier
schools and famous instructors for download, as well as online training and
tutoring services. With teaching centers located across China, the Company also offers hands on training and
tutoring to aid Chinese students pass the two most important tests they will
face in their educational careers: the senior high school entrance and college
entrance exams. In the second segment for graduates and professionals, China
Education Alliance provides vocational training courses in subjects including
IT, administration, multimedia, as well as several professional training
programs.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: Certain statements in this press release, constitute forward-looking
statements for purposes of the safe harbor provisions under The Private
Securities Litigation Reform Act of 1995. These statements include, without
limitation, statements regarding our ability to prepare the company for growth,
the Company’s planned expansion in 2009 and predictions and guidance relating to
the Company’s future financial performance. We have based these forward-looking
statements largely on our current expectations and projections about future
events and financial trends that we believe may affect our financial condition,
results of operations, business strategy and financial needs and are not a
guarantee of future performance but they involve risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements, which may include, but are not limited to, such
factors as unanticipated changes in product demand especially in the education
industry, pricing and demand trends for the Company’s products, changes to
government regulations, risk associated with operation of the Company’s new
facilities, risk associated with large scale implementation of the company’s
business plan, the ability to attract new customers, ability to increase its
product’s applications, cost of raw materials, downturns in the Chinese economy,
and other information detailed from time to time in the Company’s filings and
future filings with the United States Securities and Exchange Commission.
Investors are urged to consider these factors carefully in evaluating the
forward-looking statements herein and are cautioned not to place undue reliance
on such forward-looking statements, which are qualified in their entirety by
this cautionary statement. The forward-looking statements made herein speak only
as of the date of this press release, readers are cautioned not to place undue
reliance on any of them and the Company undertakes no duty to update any
forward-looking statement to conform the statement to actual results or changes
in the company’s expectations.

For more information, please contact:

China Education Alliance, Inc.
Ms. Cloris Li

Chief Financial Officer
Email: cloris@edu-chn.com

Christensen
Mr. Christian
Arnell

Telephone: +86 10 5826 4939
Email: carnell@christensenir.com

Originally posted here: China Education Alliance, Inc. (CEAI: OTCQX U.S.) | China Education Alliance Announces Fourth Quarter and Full Year 2012 Financial Results

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Conrad Industries, Inc. (CNRD: OTC Pink Limited) | Conrad Industries Announces 2012 Results and New Business

Category : World News

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Conrad Industries Announces 2012 Results and New Business

PR Newswire

MORGAN CITY, La., March 28, 2013

MORGAN CITY, La., March 28, 2013 /PRNewswire/ — Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) today announced its fourth quarter and twelve months 2012 results and the addition of new business during the first quarter of 2013 totaling $51.4 million.

For the quarter ended December 31, 2012, Conrad had net income of $8.0 million and earnings per diluted share of $1.33 compared to net income of $6.8 million and earnings per diluted share of $1.09 during the fourth quarter of 2011. The Company had net income of $20.8 million and earnings per diluted share of $3.46 for the twelve months ended December 31, 2012 compared to net income of $19.2 million and earnings per diluted share of $3.01 for the twelve months ended December 31, 2011. The diluted shares for the quarter and twelve months ended December 31, 2012 are 6.0 million, and 6.2 million and 6.4 million for the quarter and twelve months ended December 31, 2011, respectively. The Company’s financial reports are available at www.otcmarkets.com.

New business added during the first quarter of 2013 includes the signing of new contracts and sales of stock barges which brings estimated current backlog to approximately $122.5 million, compared to $120.7 million at December 31, 2012, $70.8 million at March 31, 2012, and $47.1 million at December 31, 2011.

New contracts added during the first quarter of 2013 include two 297’6″x 54′x 12′ 30,000 bbl. tank barges, two 245′x 48′x 12′LPG tank barges, a 300′x 100x 20′ ocean deck barge, and a 160′x 72′x 10′ deck barge.

During the first quarter of 2013, we also sold three 297’6″x 54′x 12′ 30,000 bbl. tank barges, and four tow boats which were stock vessels in progress at December 31, 2012.

Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel and aluminum products for both the commercial and government markets. The company provides both repair and new construction services at its four shipyards located in southern Louisiana and Texas.

For Information Contact:

Cecil Hernandez (985) 702-0195

CAHernandez@ConradIndustries.com

SOURCE Conrad Industries, Inc.

Continue reading here: Conrad Industries, Inc. (CNRD: OTC Pink Limited) | Conrad Industries Announces 2012 Results and New Business

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Rainmaker Entertainment Announces Fiscal 2012 and 4th Quarter 2012 Results

Category : Stocks, World News

VANCOUVER, BRITISH COLUMBIA–(Marketwire – March 28, 2013) – Rainmaker Entertainment Inc. (TSX:RNK) announces that it has filed on SEDAR (www.sedar.com) its audited consolidated financial statements and related Management’s Discussion and Analysis for the year ended December 31, 2012 as well as its 2012 Annual Information Form.

$thousands, except per share amounts Q4 2012 Q4 2011 2012 2011
Revenue 3,178 5,124 14,205 18,827
Loss from operations (611 ) (2,689 ) (3,698 ) (2,845 )
Gain on sale and equity income from Base 10 - 4,468 - 5,719
Earnings (loss) from continuing operations (611 ) 1,779 (3,698 ) 2,874
Gain on sale of discontinued operations 84 379 124 473
Earnings (loss) and total comprehensive income (527 ) 2,158 (3,574 ) 3,347
Earnings from continuing operations per share
- basic and diluted $ (0.03 ) $ 0.10 $ (0.21 ) $ 0.16
Earnings (loss) per share
- basic and diluted $ (0.03 ) $ 0.12 $ (0.20 ) $ 0.19

Rainmaker reported a loss of $3.6 million ($0.20 per share) for the year ended December 31, 2012 compared with earnings of $3.3 million ($0.19 per share) for 2011. For the fourth quarter ending December 31, 2012 the Company reported a loss of $0.5 million ($0.03 per share) compared with income of $2.1 million ($0.10 per share) for the fourth quarter of 2011. The fiscal 2011 earnings include a gain on sale and equity income from the Company’s investment in Base 10 Group Inc. (“Base 10″) totaling $5.7 million and the fourth quarter of 2011 results include $4.5 million related to Base 10.

Continued here: Rainmaker Entertainment Announces Fiscal 2012 and 4th Quarter 2012 Results

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