Home Ec-news Priceline.com Sets Reverse Stock Split
Priceline.com Sets Reverse Stock Split
By Bob Liu | June 16, 2003
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Priceline.com , the online travel site that has long suffered from the stigma of the dot-com bubble, on Monday finally took steps to allay investors' fears that its stock could ever get delisted.
The Norwalk, Conn.-based company also reaffirmed its previous guidance for the current second quarter that it would return to profitability with net income projected at 2 cents a share. The company hasn't record per-share profits since the second quarter of 2002.
The announcement comes as favorable sentiment begins to return to the Internet sector amid reassuring signs that the worst might be over. For example, McLeodUSA and iVillage recently announced that they have regained compliance to be listed on the NASDAQ.
"This reverse stock split enhances our position by expanding investor interest, reducing transaction costs for trading our stock, making our results more comparable to peer companies with far fewer outstanding shares, and allowing priceline.com's earnings per share on a post-split basis to more precisely reflect the Company's operating results," said priceline.com President and CEO Jeffery H. Boyd.
Enabling the Mobile Workforce
The company set the reverse stock split at a 1-for-6 ratio. As a result, each priceline.com stockholder will receive 1 new share of priceline.com common stock in exchange for every 6 old shares. The reverse stock split became effective at 12:01 a.m., Monday.
"Our previous pre-split guidance was for second-quarter earnings per share in the range of $0.02 to $0.03," said priceline.com Chief Financial Officer Robert J. Mylod, Jr. "On a post-split basis, this translates to earnings of between $0.12 to $0.18 per share, and we remain comfortable with estimates within that range."
The average First Call consensus earnings estimate for the second quarter 2003 was for net income of $3.6 million, which translates to $0.10 per share on a post-split basis.
The reverse split will reduce the number of common shares outstanding to approximately 37.5 million from approximately 227 million.
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I am glad you brought this up in the PR "LITTLE CAPITAL INVESTMENT" I was happy to see that also!
I also believe news was huge! Market is scared right now! We will turn around!
I bet they now counted in the sale of Fiberstars so that took employees off the books! It took a while for the update on profile.
With the increase in sales force surprised to see this number. Looks like they are running more lean and mean.
Energy Focus' Strong Growth for Its Military Business for 2014 Accelerates
Energy Focus, Inc. 9 minutes ago
SOLON, Ohio, April 3, 2014 (GLOBE NEWSWIRE) -- Energy Focus, Inc. (EFOI), a leader in LED lighting technologies, today announced the Company's military business has been awarded $2.1 million in orders in addition to the $2.0 million announced in February. Accumulated orders of $4.1 million thus far this year now represent more than the sales of the military business in all of 2013.
While the new orders consist of a wide range of Energy Focus LED U.S. Navy products, the bulk of the new orders are for Energy Focus' LED retrofit tubes. Energy Focus LED tubes are starting to reach the various naval platforms including, most recently, a U.S. Navy aircraft carrier.
"Our accelerated sales order growth, which is well diversified across various Navy ships and platforms, demonstrates that the whole Navy ecosystem is beginning to recognize the benefits our LED products provide, resulting in significantly lower maintenance and energy costs," said Eric Hilliard, President of Energy Focus. "We are also thrilled to retrofit the Navy's carrier fleet. With 80,000 or more linear fluorescent lamps per carrier, the carriers represent the largest users of shipboard lighting in the U.S. Navy."
"A critical reason we've been successful in creating and propelling our military business has been our focus on providing our military customers with products so reliable they can meet LED lifetime expectations even in the most difficult environments," said James Tu, Executive Chairman. "We're bringing that same quality mindset and discipline to the civilian markets as we strive toward achieving our goal to be a trusted leader in LED lighting retrofit, not only in the military, but also in the ESCO and commercial lighting markets."
Energy Focus Inc will be exhibiting at the annual Sea/Air/Space Expo April 7, 8 & 9 at booth #2822 in the Gaylord National Conventional Center, National Pearl Harbor, MD.
Forward Looking Statements
Fund has turned out great for me!
Thanks Joe! You wrote 20k shares I would think that would not be much of a impact.
Best of all up day.What I like is we are not seeing a sell off from after CC company might not of had a lot of news at CC but the company still is heading in right direction!
Joe,I don't know much about how warrants work.If the company is growing strong in 2015 and we could be off and flying by then, do you think this will have a strong impact on the stock price ?
You have to wonder whats going on when you see a small trade like that here.I have unloaded 1 share of some of my stocks that ate me up after a R/S .I would love to see this compete on price with RVLT you never know!
Should be investigated!
I had some problems understanding James during CC sounded like he might of had a cold. After listening from comments here I took the time to listen again. If we do hit the 10 Mil next quarter I will be pleased!
I hope people learn don't buy a IPO first day!
I am not sure who pumped it! I watched CNBC today and 4 members there were asked if they palyed there game and they said yes.They were then asked did they buy there stock and they said "NO" !! I guess they were the smart ones!