Basic Energy Services, Inc. (NYSE:BAS) announced its financial and operating results for the third quarter and nine months ended September 30, 2011. Third quarter net income as reported was $26.6 million, or $0.64 per diluted share, compared to net income of $16.6 million last quarter and a net loss of $9.3 million in the third quarter of 2010. The current quarter results included a $631,000 tax adjustment related to the first quarter’s early extinguishment of its $225 million 11.625% Senior Secured Notes due 2014 (”2014 Notes”). Basic’s effective tax rate for the next quarter will also be impacted because of the early extinguishment of the 2014 Notes. Excluding the impact related to this adjustment, third quarter operating net income was $27.2 million, or $0.66 per diluted share. This is compared to the second quarter’s operating net income of $18.5 million, or $0.45 per diluted share, which included a tax adjustment of $1.9 million related to the bond redemption.
Basic Energy Services, Inc. provides a range of well site services to oil and natural gas drilling and producing companies in the United States. The company�s Completion and Remedial Services segment provides pressure pumping services, such as cementing, acidizing, fracturing, coiled tubing, nitrogen, and pressure testing; rental and fishing tools; cased-hole wireline services; underbalanced drilling in low pressure and fluid sensitive reservoirs; and snubbing services.
Many small businesses are faced with spiraling phone bills. One way of reducing your bills is to use your IT network for phone calls between your branches, and to use the internet for external calls. This is known as Voice over Internet Protocol (VoIP). VoIP can also dramatically improve the way you work. If you switch your phone calls to your IT network, you can merge voice and data, boosting staff productivity and enhancing customer service.
Crown Equity Holdings Inc. (OTC: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. 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.�
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.
CRWE 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.
For more information, please visit: http://www.crownequityholdings.com
Safeguard Scientifics, Inc. (NYSE:SFE) a holding company that builds value in growth-stage life sciences and technology companies, announced that aggregate partner company revenue for the three months and nine months ended September 30, 2011 was $46 million and $131 million, respectively. Aggregate technology partner company revenue was $41 million, up 26%, and $115 million, up 46%, for the three months and nine months ended September 30, 2011, respectively. For our life sciences partner companies we do not expect significant revenue to be generated by these companies until they are further along in their development.
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. provides growth capital for entrepreneurial and innovative life sciences and technology companies.
Sealed Air Corporation (NYSE:SEE) reported diluted net earnings per common share (EPS) of $0.41, including $0.07 of acquisition items related to the Diversey Holdings, Inc. (�Diversey�) acquisition, compared with $0.43 in 2010. Adjusted EPS increased 12% to $0.48, compared with $0.43 in 2010. Net sales increased 10% to $1.25 billion, while gross profit was $336 million, or 26.9% of net sales, compared with $321 million, or 28.4% in 2010. Operating profit was $130 million, or 10.4% of net sales, which includes $24 million of acquisition- and integration-related expenses and lower variable incentive compensation expenses. This compares with $147 million, or 13.0%, in 2010. Excluding the acquisition- and integration-related expenses, adjusted operating profit was $154 million, or 12.3% of net sales, compared with 13.1% in 2010. Adjusted EBITDA was $196 million, compared with $192 million in 2010.
Sealed Air Corporation, through its subsidiaries, manufactures and sells packaging and performance-based materials and equipment systems worldwide.
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