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Omega Commercial Finance Corporation (OTCQB: OCFN) $0.22. Announced Monday after market close that it has signed a Letter of Interest to acquire a boutique brokerage firm that illustrates historical profits from top-line gross production of $4.3 million. The firm maintains 17-licensed advisors that offer a full range of financial products covering 40-States. Additionally, the firm is a licensed RIA and can offer insurance products, plus has approximately a half billion dollars in assets under management.
Operationally this brokerage firm will cultivate growth strategies for OCFN with the ability to integrate a capital markets Institutional Sales Team ("IST") whose sole responsibility is to offer structured finance products such as CMBS's, CLO's, ABS's, or proprietary lines of credit, to support the subsidiary lending operations. Additional products will include one-off private placements for first-rate types of strategic alliances, joint-ventures, and CRE development projects. Likewise, management has determined the brokerage firm's current advisors can offer these structured financial products on day one of the acquisition.
What They Do: Omega trades as a commercial real estate lender and specialty finance holding company. Through its subsidiaries, Omega CRE Group LLC and Omega Capital Street LLC the company shall focus primarily on originating, investing in, acquiring, and managing senior performing commercial real estate mortgage loans, commercial mortgage-backed securities, commercial real estate corporate debt and loans, and other commercial real estate related debt-investments in the U.S. and globally.
Sequenom (Nasdaq: SQNM) $3.85. Today announced that its wholly-owned subsidiary, the Sequenom Center for Molecular Medicine (Sequenom CMM), has completed several international distribution agreements that will expand access to the MaterniT21 PLUS testing service outside the United States. Agreements in Asia cover Japan and Hong Kong; in Europe cover the Czech Republic and Slovakia, and the Netherlands; and in the Middle East, cover Israel.
The announcement of these agreements follows recent news that Sequenom's current licensee in Europe, LifeCodexx, gained CE Marking for their trisomy 21 test, the PraenaTest®, using the Sequenom-licensed technology and has made it available as a testing service at prenatal clinics and hospitals in Germany, Austria, Liechtenstein and Switzerland.
What They Do: Sequenom is a life sciences company committed to improving healthcare through revolutionary genetic analysis solutions.
Cyberonics (Nasdaq: CYBX) $45.33. Today announced results for the quarter ended July 27, 2012.
Operating results and other achievements for the first quarter of fiscal 2013 compared to the first quarter of fiscal 2012 include: Net sales of $60.3 million, an increase of 15% from $52.7 million; Record worldwide unit sales of 3,056, an increase of 9%; U.S. epilepsy unit sales increased by an estimated 13%; Income from operations of $17.3 million, an increase of 35% from an adjusted non-GAAP income from operations of $12.8 million; Adjusted EBITDA of $22.8 million, an increase of 39% from an adjusted EBITDA of $16.5 million; and Adjusted non-GAAP income per diluted share of $0.38 compared with adjusted non-GAAP income per diluted share of $0.27, an increase of 40%.
"Overall, international net sales increased to $9.1 million from the $8.9 million recorded in the comparable quarter of fiscal 2012, with foreign exchange movements negatively impacting revenue for the first quarter of fiscal 2013 by approximately $750,000. On a constant currency basis, the increase in international sales was 9.8%.
"Adjusted EBITDA for the first quarter was $22.8 million, and our available cash balance at July 27, 2012 exceeded $102 million. Our balance sheet strength provides flexibility as we strive to increase shareholder value. During the quarter, we repurchased approximately 185,000 shares of common stock on the open market, and 115,000 shares pursuant to a program to permit employees to meet statutory withholding tax obligations on vesting of restricted stock.
What They Do:Cyberonics, Inc. is a medical technology company with core expertise in neuromodulation.
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