AGORACOM Small Cap TV - August 9th - Highlights
posted on
Aug 09, 2011 11:38AM
Good morning to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on AGORACOM Small Cap TV this morning. It’s Aug 9th, 2011, and we’ve found 10 great press releases to report on at the open. Another great day for small-cap and micro-cap financial news. To watch the show live every morning at 9:30 AM, visit our front page.
IntelGenx Reports Q2, 2011 Results and Highlights Recent Developments
IntelGenx Technologies Corp. (TSX VENTURE: IGX)(OTCBB: IGXT) ("IntelGenx") today announced its financial results for the three and six month periods ended June 30, 2011 and highlighted recent business developments. All amounts are in U.S. dollars, unless otherwise stated.
RECENT DEVELOPMENTS:
Financing:
On June 22, 2011, we announced the closing of two concurrent private placement offerings in the U.S. and Canada. We issued approximately 4.8 million shares of common stock at $0.67 per share and three-year warrants to purchase up to approximately 2.4 million shares of common stock at an exercise price of US$0.74 per share, for aggregate gross proceeds of approximately US$3.2 million. We intend to use the net proceeds to support our strategic development projects and for working capital.
Subsequent to the end of the second quarter, warrants and stock options have been exercised for a total of 920,652 common shares for cash consideration of approximately $0.5 million.
FINANCIAL HIGHLIGHTS:
U.S. $ Millions except Per Share Data
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As of six month period ended:
June 30, 2011June 30, 2010
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Cash Equivalents$ 3.2$ 0.4
Revenue$ 0.1$ 0.3
Expenses$ 1.3$ 2.0
Net Loss$ 1.2$ 1.7
Loss Per Share$ 0.03$ 0.05
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About IntelGenx:
IntelGenx is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. IntelGenx uses its unique multiple layer delivery system to provide zero-order release of active drugs in the gastrointestinal tract. IntelGenx has also developed novel delivery technologies for the rapid delivery of pharmaceutically active substances in the oral cavity based on its experience with rapidly disintegrating films. IntelGenx' research and development pipeline includes products for the treatment of severe depression, hypertension, erectile dysfunction, benign prostatic hyperplasia, migraine, insomnia, bipolar disorder, idiopathic pulmonary fibrosis, allergies and pain management.
Last Trade: 0.59152 Week: 1.06 – 0.25Market Cap: 23.39 Million
CPI Aerostructures Announces Record 2011 Second Quarter Results
CPI Aerostructures, Inc. ("CPI Aero(R)") (NYSE Amex: CVU) today announced record results for the 2011 second quarter and six months ended June 30, 2011.
Second Quarter 2011 vs. 2010
-- Revenue increased 38.9% to $17,426,223 from $12,544,625;
-- Gross margin was 24.4% compared to 26.7%;
-- Pre-tax income increased 14.7% to $2,094,816 compared to $1,826,254; and,
-- Net income increased 30.3% to $1,570,816 or $0.22 per diluted share, compared to $1,205,254, or $0.18 per diluted share.
First Half 2011 vs. 2010
-- Revenue increased 42.0% to $33,435,831 from $23,550,154;
-- Gross margin was 24.2% compared to 25.9%;
-- Pre-tax income increased 31.2% to $4,106,865 compared to $3,130,068;
-- Net income increased 42.2% to $2,938,865 or $0.41 per diluted share compared to $2,066,068 or $0.32 per diluted share; and,
-- Unawarded solicitations remain at a high level with open solicitations totaling a maximum realizable value of approximately $446 million.
ncluded in recent contract awards are several large orders from existing customers:
-- The exercise of options, by Northrop Grumman Corporation under a previously awarded purchase order for Outer Wing Panel Kits for the E-2D Hawkeye and the C-2A Greyhound aircraft. The new orders, valued at $11.2 million, increased the firm, funded requirements under this program to approximately $35.9 million.
-- An $8.3 million award from Spirit AeroSystems for work on wing leading edge assemblies for the Gulfstream G650 aircraft.
-- A $2.85 million award to provide structural assemblies to Sikorsky Aircraft for use as spares for its BLACK HAWK military helicopter.
About CPI Aero
CPI Aero is engaged in the contract production of structural and other aircraft parts for leading prime defense contractors, the U.S. Air Force, and other branches of the armed forces. CPI Aero also acts as a subcontractor to prime aircraft manufacturers in the production of commercial aircraft parts. In conjunction with its assembly operations, CPI Aero provides engineering, technical and program management services.
Last Trade: 12.0452 Week: 15.70 – 9.05Market Cap: 82.03 Million