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Rambus Reports Third Quarter Financial Results



Rambus Inc. (NASDAQ:RMBS), one of the world’s premier technology licensing companies, reported financial results for the third quarter ended September 30, 2011.

Revenue for the third quarter of 2011 was $100.3 million, up 51% sequentially from the second quarter of 2011 primarily due to the recognition of royalties from new licensing agreements signed in the second and third quarter of 2011. As compared to the third quarter of 2010, revenue was up 216% primarily due to the revenue recognized from agreements signed since the third quarter of 2010. Revenue for the nine months ended September 30, 2011 was $229.0 million, down 2% over the same period of last year, due to the recognition during the first quarter of 2010 of revenue from the settlement agreement signed with Samsung Electronics Co., Ltd. (“Samsung”), partially offset by the revenue recognized from agreements signed since the third quarter of 2010.

Total operating costs and expenses for the third quarter of 2011 were $89.5 million, which included general litigation expenses of $23.5 million, $7.2 million of stock-based compensation expenses and retention bonuses and amortization expenses related to the acquisition of Cryptography Research Inc. (“CRI”) of $12.7 million. This is compared to total operating costs and expenses for the second quarter of 2011 of $68.7 million, which included general litigation expenses of $11.5 million, $7.0 million of stock-based compensation expenses and CRI related deal costs, retention bonuses and amortization expenses of $8.4 million. Total operating costs and expenses in the third quarter of 2010 were $43.2 million, which included general litigation expenses of $4.6 million, $7.5 million of stock-based compensation expenses and gain from the Samsung settlement of $10.3 million.

Rambus is one of the world’s premier technology licensing companies. As a company of inventors, Rambus focuses on the development of technologies that enrich the end-user experience of electronic systems.

Additional information is available at www.rambus.com.

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KVH Industries Inc. (Nasdaq:KVHI) will announce its financial results for the third quarter that ended September 30, 2011, on Wednesday, October 26, 2011. In conjunction with the release, the company will conduct its investor conference call at 10:30 a.m. ET, hosted by Mr. Martin Kits van Heyningen, chief executive officer, and Mr. Patrick Spratt, chief financial officer.

KVH Industries, Inc. engages in the development, manufacture, and marketing of mobile communication products for the marine, land mobile, and aeronautical markets primarily in North America, Europe, and Asia.

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Ixia (Nasdaq:XXIA) reported its financial results for the third quarter ended September 30, 2011. Total revenue for the 2011 third quarter was $77.3 million, compared with $70.9 million reported for the 2010 third quarter and $69.0 million reported for the 2011 second quarter.

Ixia supplies converged network and application performance testing solutions for network equipment manufacturers, service providers, enterprises, and government agencies the United States and internationally.

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New Hampshire Thrift Bancshares Inc (Nasdaq:NHTB) reported consolidated net income for the nine months ended September 30, 2011 of $6,038,630, or $0.96 per common share (assuming dilution), compared to $5,827,086, or $0.94 per common share (assuming dilution), for same period in 2010, an increase of $211,544, or 3.63%. For the three months ended September 30, 2011, the Company reported consolidated net income of $2,013,490, or $0.31 per common share (assuming dilution), compared to $2,103,116, or $0.34 per common share (assuming dilution), for the three months ended September 30, 2010.

New Hampshire Thrift Bancshares, Inc. operates as the holding company for Lake Sunapee Bank, fsb that provides banking and other financial services in New Hampshire and Vermont.

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Crown Equity Holdings, Inc. (CRWE)

Crown Equity Holdings Inc. (CRWE) recently announced 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."

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Cleantech Transit, Inc. (CLNO)

Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company's manufacturing clients worldwide.

The use of biomass energy has the potential to greatly reduce our greenhouse gas emissions. Biomass generates about the same amount of carbon dioxide as fossil fuels, but every time a new plant grows, carbon dioxide is actually removed from the atmosphere. The net emission of carbon dioxide will be zero as long as plants continue to be replenished for biomass energy purposes. These energy crops, such as fast-growing trees and grasses, are called biomass feedstocks. The use of biomass feedstocks can also help increase profits for the agricultural industry.

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Net income of $71 million, or $0.24 per share, compared with net income of $0.16 per share in prior quarter and $0.03 per share in third quarter 2010

Income tax included a benefit of approximately $62 million, or $0.21 per share, related to the taxable liquidation of an international subsidiary

Other expenses included a reserve of $55 million, or $0.13 per share, related to E*TRADE Securities LLC's intention to initiate an offer to purchase auction rate securities purchased through the firm by individual investors before Feb. 11, 2008

FDIC expense increased $12 million from the prior quarter, including $6 million related to second quarter premiums

Total net revenue of $507 million, down from $518 million in prior quarter and up from $489 million in third quarter 2010

Provision for loan losses of $98 million, down from $103 million in prior quarter and $152 million in third quarter 2010

Special mention delinquencies (30-89 days) were flat compared with prior quarter; at-risk delinquencies (30-179 days) down five percent from prior quarter

Daily Average Revenue Trades (DARTs) of 165,000, up 11 percent from prior quarter and up 30 percent from third quarter 2010

Net new brokerage assets of $2.6 billion, up from $1.5 billion in prior quarter and $1.4 billion in third quarter 2010

Net new brokerage accounts of 13,000, down from 25,000 in prior quarter and up from 7,000 in third quarter 2010




E*TRADE Financial Corporation (NASDAQ: ETFC) announced results for its third quarter ended Sept. 30, 2011, reporting net income of $71 million, or $0.24 per share, compared with net income of $47 million, or $0.16 per share, in the prior quarter and net income of $8 million, or $0.03 per share, in the third quarter of 2010. The company reported total net revenue of $507 million for the third quarter, compared with $518 million in the prior quarter and $489 million in the year-ago period.

During the quarter, the company recorded an income tax benefit of approximately $62 million related to the taxable liquidation of a European subsidiary. The subsidiary was liquidated in connection with the company's international restructuring activities. This liquidation resulted in the taxable recognition of certain losses, including historical acquisition premiums that the company incurred internationally. This tax benefit resulted in a corresponding increase to the company's deferred tax asset which currently stands at $1.5 billion.

"We are pleased with our third quarter results which — amid significant market volatility — demonstrated strength in our brokerage business, continued improvement in our loan portfolio and measurable progress against our strategic initiatives," said Steven Freiberg, Chief Executive Officer of E*TRADE Financial Corporation. "The retail investor was highly engaged, particularly in early August when we successfully managed periods of record trade, call, online chat and login volumes. Over the course of the quarter, we benefited from growth in net new assets and accounts, supported by a stable customer retention rate. Delinquency trends in our loan portfolio continue to improve and our quarterly loan provision is down approximately 80 percent from its peak. Our solid execution continues to move the firm forward as we focus on delivering the best investing experience and creating franchise value."

During the quarter, the company reserved $55 million, recorded in other operating expenses, related to its intention to initiate an offer to buy auction rate securities (ARS) held by customers of E*TRADE Securities LLC. This reserve relates primarily to the company's estimate of the securities' current fair value relative to their par value, and includes other estimated settlement costs.

Mr. Freiberg commented: "While we played a limited role in the market for these securities, we believe these actions will put this matter behind us and are in the best interest of our customers and stakeholders."

More about ETFC at www.etrade.com

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LDK Solar Co., Ltd. (NYSE:LDK) announced that the Company has signed an engineering, procurement and construction (EPC) agreement with Guodian Longyuan Zhangye New Energy Limited for a project located in Zhangye City in the Gansu province of China. The first phase of the project commenced this month, and completion is expected by December 31, 2011.

LDK Solar Co., Ltd., together with its subsidiaries, engages in the design, development, manufacture, and marketing of photovoltaic (PV) products; and development of power plant projects.

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Crown Equity Holdings, Inc. (CRWE)

Crown Equity Holdings Inc. (CRWE) recently announced 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."

Read the full article and the disclaimer at: http://drstockpick.com/?p=22649

Griffon Corporation (NYSE:GFF) announced that it has closed on the acquisition of the pots and planters business of Southern Sales & Marketing Group, Inc. The acquired business, which markets its products under the Southern Patio brand name ("Southern Patio"), is a leading designer, manufacturer and marketer of landscape accessories. Southern Patio had revenues for the fiscal year ended September 30, 2011 exceeding $40 million. Total purchase consideration approximated $23 million. Griffon expects the transaction to be immediately accretive to cash flow and earnings per share.

Griffon Corporation, through its subsidiaries, operates as a manufacturing company. The company Telephonics segment specializes in advanced electronic information and communication systems for defense, aerospace, civil, industrial, and commercial applications.

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American Reprographics Company, (NYSE:ARC) announced that it will hold a conference call with investors and analysts on Wednesday, November 2, 2011 at 2 P.M. Pacific Time (5 P.M. Eastern Time) to discuss results for the Company's third quarter of 2011. A news release announcing the third quarter 2011 results will be disseminated on November 2, 2011 after the market close. To access the live audio call, dial 877-402-8179. The conference ID number is 18695685. A live Webcast will also be made available on the investor relations page of ARC's website at www.e-arc.com.

American Reprographics Company, a reprographics company, provides business-to-business document management services.

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Crown Equity Holdings, Inc. (CRWE)

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.

There is no doubt that the internet has changed so many things in our lives. Today, instead of driving to our local department store, we open the computer and shop with our mouse; instead of going to libraries and reading traditional books, we now research and get the information we need through the internet. As the internet brings so much impact to our lives, entrepreneurs have started using it to their advantage. They use it to reach the global market and advertise their products and services without spending a fortune for their advertising cost. These pioneers of internet marketing are earning huge fortunes in the billions.

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Callidus Software Inc. (Nasdaq:CALD) announced that Sales Selector, Callidus' next-generation SaaS sales video interview and assessments application, is now generally available.

Callidus Software Inc., together with its subsidiaries, provides sales performance management (SPM) software applications and services.

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Cleantech Transit, Inc. (CLNO)

There are various categories of biomass material, out of which there are five main basic materials,
1. Wood: Mainly obtained from forests and arboricultural activities.
2. Crops: Grown especially for energy conservation, these crops are found in massive amounts amongst vast rural fields.
3. Agricultural residues: Wastes produce from harvesting and processing.
4. Food: All the wasted food from industries during manufacturing process and also post consumer waste.
5. Industrial Waste: The natural or organic wastes coming from industries during manufacturing process.

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ISTA Pharmaceuticals Inc. (Nasdaq:ISTA) announced it will release third quarter 2011 financial results after the market closes on November 1, 2011. In conjunction, the Company will host a conference call at 4:30 p.m.

ISTA Pharmaceuticals, Inc., a pharmaceutical company, discovers, develops, and markets remedies for diseases and conditions of the eye in the United States.

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Scientific Learning Corp. (Nasdaq:SCIL) released Eddy's Number Party!™, the first iPad app within its KinderSpark™ series for children aged 3-6 years old. KinderSpark is a collection of fun and engaging games designed by education professionals and leading scientists to help young learners build kindergarten readiness skills and lay the foundation to excel in learning.

Scientific Learning Corporation, together with its subsidiaries, develops, distributes, and licenses technology that accelerates learning by applying proven research on how the brain learns worldwide.

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MGP Ingredients Inc. (Nasdaq:MGPI) announced that the company will host a webcast of its Annual Meeting of Stockholders to be held Thursday, October 20, 2011 beginning at 10:00 a.m. (central time) at the Presbyterian Community Center, Atchison, Kansas. Persons may listen to the annual meeting and view a simultaneous presentation live via a link on the homepage of the company's website, www.mgpingredients.com.

MGP Ingredients, Inc. produces and sells distillery and ingredients products in the United States, Japan, Canada, Europe, and internationally. It processes corn and wheat flour into various products through an integrated production process.

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Smart Balance, Inc (Nasdaq:SMBL) will host a live audio webcast at www.smartbalance.com on November 3, 2011, at 9:30 a.m. ET to discuss 2011 third quarter results, which will be issued at approximately 8:30 a.m. ET the same day.

Smart Balance, Inc., a consumer food products company, distributes various food products in the United States and internationally.

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Crown Equity Holdings, Inc. (CRWE)

VoIP has lots of advantages over a regular phone service. However, like any emerging technology, there are still a few kinks in the system. However, as standards are developed it becomes more reliable and achieves greater acceptance. It is inevitable that VoIP will eventually replace traditional phone service - in fact, phone companies are already taking advantage of the technology to offer cheaper long distance rates.

Low cost - One of the main advantages of VoIP is the low cost. If you have a fast Internet connection (DSL or cable) you can make PC-to-PC phone calls anywhere in the world for free. If you wish to make a PC-to-phone connection, however, there's usually a charge for this but probably much cheaper than your regular phone service.

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Sapiens International Corp. NV (Nasdaq:SPNS) and a member of the Formula Group (NASDAQ:FORTY), announced today that LB Group Denmark has selected Sapiens' Insight for Reinsurance solution to manage its reinsurance programs, and enhance risk control in line with Solvency II directive.

Sapiens International Corporation N.V. provides software solutions for the insurance industry. The company offers solutions for the property and casualty, and life and pension markets.

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Intuitive Surgical, Inc. (Nasdaq:ISRG), the industry leader in surgical robotics, reported third quarter of 2011 revenue of $447 million, up 30% compared with $344 million for the third quarter of 2010. Third quarter of 2011 revenue growth was driven by continued robotic procedure adoption and higher da Vinci Surgical System sales.

Third quarter of 2011 instruments and accessories revenue increased 38% to $176 million from $128 million in the third quarter of 2010. The growth in instruments and accessories revenue was primarily driven by growth in da Vinci surgical procedures of approximately 30%. Third quarter of 2011 systems revenue was $199 million, an increase of 25%, compared to $160 million during the third quarter of 2010. The growth in third quarter 2011 systems revenue was driven by sales of 133 da Vinci Surgical Systems compared to 105 system sales during the same period last year. Third quarter of 2011 services revenue increased 25% to $72 million from $57 million during the third quarter of 2010, reflecting growth in the installed base of da Vinci Surgical Systems.

Third quarter of 2011 operating income increased 35% to $179 million from $132 million during the third quarter of 2010. Operating results for the third quarter of 2011 included $35 million of non-cash stock-based compensation expense compared with $30 million for the third quarter of 2010.

Third quarter of 2011 net income increased 41% to $122 million, or $3.05 per diluted share, from $87 million, or $2.14 per diluted share for the third quarter of 2010.

Intuitive ended the third quarter of 2011 with $1,887 million in cash, cash equivalents and investments, reflecting an increase of $65 million during the quarter, net of $181 million used to repurchase 526,000 shares of common stock.

Commenting on the announcement, Dr. Gary Guthart, President and CEO of Intuitive Surgical, said, "We are pleased with the growth in da Vinci procedures and the performance of our team in the quarter."

Intuitive Surgical, Inc., headquartered in Sunnyvale, California, is the global technology leader in robotic-assisted, minimally invasive surgery. Intuitive Surgical develops, manufactures, and markets robotic technologies designed to improve clinical outcomes and help patients return more quickly to active and productive lives. The Company's mission is to extend the benefits of minimally invasive surgery to the broadest possible base of patients. Intuitive Surgical -- Taking surgery beyond the limits of the human hand(TM).

More about ISRG at www.intuitivesurgical.com

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Argan, Inc. (AMEX:AGX) was founded in 1961 and is headquartered in Rockville, Maryland. Argan, Inc., through its subsidiaries, provides development, consulting, engineering, procurement, construction, commissioning, operations, and maintenance services to the power generation and renewable energy markets for public utilities, independent power project owners, municipalities, public institutions, and private industry.



Argan, Inc. announced that its wholly owned subsidiary, Gemma Power Systems (GPS), has signed an engineer-procure-construct (EPC) contract with East Texas Electric Cooperative, Inc. (ETEC) for an approximately $165 million contract to design and build a 49.9 MW, biomass-fired power plant near Woodville, Texas. The Rural Utilities Service (RUS) must issue its approval of the contract and issue its Finding of No Significant Impact (FONSI) for the project prior to full effectiveness of the contract.

GPS has received a limited release to start critical planning and early engineering activities with a full release expected no later than Spring 2012. The project is estimated to be completed in December 2014. Rainer Bosselmann, Chairman and Chief Executive Officer of Argan, stated, “We are pleased to assist in meeting the electricity demands of the citizens of East Texas and ETEC’s member cooperatives. We look forward to working with ETEC toward the successful, on-time completion of this important project.”

The telecommunications infrastructure services of Argan include structuring, cabling, terminations, and connectivity that provide the physical transport for high speed data, voice, video, and security networks, as well as inside plant and premises wiring services comprising AutoCAD design; cable installation; equipment room, and telecom closet design and build-out; data rack and cabinet installation; raceway design and installation; and cable identification, testing, labeling, and documentation services.

The telecommunications infrastructure services of Argan also consist of trenchless directional boring and excavation for underground communication and power networks; aerial cabling services; and the installation of buried cable, high and low voltage electric lines, and private area outdoor lighting systems. Argan provides its telecommunications infrastructure services to federal government, and telecommunications and broadband service providers, as well as electric utilities.

For more information about Argan, please visit http://www.arganinc.com

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Equity One Inc. (NYSE:EQY) announced that it has closed on the sale of Trio Apartments and Park Plaza for an aggregate sales price of $124.9 million and has closed on the acquisition of Aventura Square for $55.5 million.

Equity One, Inc., a real estate investment trust (REIT), engages in the ownership, management, acquisition, renovation, and development of neighborhood and community shopping centers in the United States.

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AbitibiBowater Inc. (NYSE:ABH) plans to issue its third quarter financial results on October 31, 2011, in a press release to be issued at approximately 8:00 a.m. (ET). The Company will then hold a conference call to discuss those results at 9:00 a.m. (ET). The public is invited to join the call at 866 696-5910 (pass code 1038311) at least fifteen minutes before its scheduled start time.

AbitibiBowater Inc., a forest products company, manufactures and sells newsprint, coated mechanical and specialty papers, market pulp, and wood products.

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Safeguard Scientifics, Inc. (NYSE:SFE) announced that it will release its financial results for the third quarter ended September 30, 2011 prior to market open on Wednesday, October 26, 2011.

Safeguard Scientifics, Inc. is a private equity and venture capital firm specializing in expansion financing, growth capital, management buyout, recapitalization, industry consolidation, corporate spinout, and early stage financing transactions.

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Trex Co. Inc. (NYSE:TREX) announced that it has entered into a licensing agreement with Manassas, Va.-based Backyard America to develop and market Trex Pergola kits manufactured of durable and low-maintenance cellular PVC TrexTrim®. Trex Pergola kits will be available in a variety of sizes and designs to complement any residential or commercial outdoor space.

Trex Company, Inc., together with its subsidiaries, manufactures and distributes wood/plastic composite products primarily for residential and commercial decking and railing applications in the United States. It provides wood-alternative decking, railing, and trim products under the Trex brand name.

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International Game Technology (NYSE:IGT) announced the installation of its sbX™ system at Cypress Bayou Casino in Charenton, La.

International Game Technology (IGT) designs, manufactures, and markets electronic gaming equipment and systems worldwide.

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Cleantech Transit, Inc. (CLNO)

Biomass is a very broad term which is used to describe material of recent biological origin that can be used either as a source of energy or for its chemical components. As such, it includes trees, crops, algae and other plants, as well as agricultural and forest residues. It also includes many materials that are considered as wastes by our society including food and drink manufacturing effluents, sludges, manures, industrial (organic) by-products and the organic fraction of household waste.

Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company's manufacturing clients worldwide.

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Western Union Co. (NYSE:WU) announced an agreement with FOREX Bank to offer money transfer services in Europe's Nordic region. FOREX will offer the Western Union® service at 100 Agent locations in Denmark, Finland, Norway and Sweden.

The Western Union Company provides money transfer and payment services worldwide. The company's Consumer-to-Consumer segment offers consumer-to-consumer money transfer services through a network of third-party agents using multi-currency and real-time money transfer processing systems.

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Crown Equity Holdings, Inc. (CRWE)

Voice over IP (VoIP) is the wave of the telecommunications future. Whether for home or business use, you'll find voice over IP (or VoIP, as it is alternately called) incredibly useful and economical. Voice over IP makes it possible for you to be reached at the same phone number wherever you are in the world. This is possible because of the internet technology that voice over IP uses.
In VoIP (Voice over IP) applications, voice data is transferred over the internet in the same way that any other information is sent. Distance does not cause depreciation in voice quality like in the case of analog information transfer.

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