September 30, 2009
First Fidelity Reserve will sponsor the Practical Event of the NRA Bianchi Cup and plans to provide $15,000 in cash and prizes. FFR’s CEO Jason Whitney, who will be attending the Championship, said, “Out of all the areas within the NRA (legislative, sporting, fundraising) that we support both locally and nationally, the shooting competitions are by far the most exciting and fun. And, as always, we’re proud that the NRA asked us to be a part of Bianchi Cup!”
Since its inception in 1979, the NRA Bianchi Cup has retained its original course of fire, consisting of four events: Practical, Barricade, Moving Target and Falling Plates. Speed and accuracy are the key to winning the Championship. Each event is timed and worth 480 points, equaling a total of 1920 possible points. Action pistol competitors are permitted to use a two-handed grip, and competitors must start with their guns holstered. This dynamic type of competition makes the match more appealing to spectators.
First Fidelity Reserve is a leading provider of Bullion and Rare Coins to tens of thousands of collectors and numismatic professionals. The Beaumont, Texas, based investment company is known internationally for their knowledge of investing in collectable coins and serves as the Market Maker in certified United States coins, such as Type II and Type III Liberty Double Eagles and the renowned Indian Head and $3.00 Princess designs of early 1900, as well as key date numismatic treasure in the gold, platinum and silver American Eagle family of coins. FFR also provides a variety of informative publications, newsletters, and other educational material on coin collecting.
“The NRA Competitive Shooting Division is pleased to welcome First Fidelity Reserve as a sponsor of the 2010 NRA Bianchi Cup,” said Mike Krei, Director of NRA’s Competitive Shooting Division. “We are excited to have FFR sponsor another NRA Competitive Shooting championship and appreciate their dedication to our championships, competitive shooting sports and generous support to the 2010 NRA Bianchi Cup.”
For more information on the 2010 NRA Bianchi Cup, or the NRA Action Shooting Program, contact Tom Hughes at 703-267-1451, or by email, BianchiCup@nrahq.org. For more information on NRA Competitive Shooting Sponsorships, please visit www.nrasportsponsors.com or contact Woody Arenas in the NRA Competitive Shooting Division at 703-267-1469 or by email, email@example.com. To learn more about First Fidelity Reserve, visit www.firstfidelityreserve.com.
Kyle Jillson firstname.lastname@example.org or (703) 267-1595
September 30, 2009
“This is an important milestone in the life of Iridium, as we take the first critical step toward securing the funding required for development and launch of our next generation satellite constellation, becoming a public company and establishing the transparency expected of a company that serves the critical interests of businesses globally,” said Matthew J. Desch, chief executive officer of Iridium. “I especially want to thank the extraordinary team of Iridium employees and our growing network of value-added partners who are the driving force behind Iridium’s success, as well as our investors for their faith in us.”
“Iridium is a strong company and an innovative competitor,” said Robert H. Niehaus, chairman of the board of directors of Iridium. “Today, with the close of this transaction, Iridium has a market cap of more than $785 million and a strong balance sheet with substantial cash. It marks the beginning of a very exciting time in the life of this very dynamic company.”
Iridium is the only provider of mobile satellite communications services offering 100% global coverage. Iridium’s constellation operates in a low-earth orbit and its satellite network provides communication services to regions of the world not served by wireless or wireline networks. Iridium offers voice and data communications services to the U.S. and foreign governments, businesses, non-governmental organizations and consumers via its constellation of 66 in-orbit satellites, seven in-orbit spares and related ground infrastructure. Iridium’s commercial end-user base includes the emergency services, maritime, government, utilities, oil and gas, mining, leisure, forestry, construction and transportation markets. Iridium’s products and related applications are installed in unmanned aerial vehicles, helicopters, commercial aircrafts, marine vessels, and ground vehicles. Iridium has launched a major development program for its next generation constellation, Iridium NEXT, which will support new and existing Iridium product and service offerings. Iridium is headquartered in Bethesda, MD.
Forward-Looking Statements and Other Disclosure
This press release contains, and Iridium’s management may make, certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipates,” “may,” “can,” “believes,” “expects,” “projects,” “intends,” “likely,” “will,” “to be” and other expressions that are predictions of or indicate future events, trends or prospects identify forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, whether the closing conditions will be satisfied (including receipt of regulatory approvals), as well as industry, market and economic conditions, and competitive, legal, governmental and technological factors. There is no assurance that Iridium’s expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium’s underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium’s forward-looking statements speak only as of the date of this press release or as of the date they are made, and, except as required by law, Iridium undertakes no obligation to update forward-looking statements.
Liz DeCastro, Iridium Communications Inc. (301) 571-6257 email@example.com
September 29, 2009
I just saw a preview for his latest work of crap. Moore is out there and whats even scarrier is the fact that there are others who think like him….
But there is hope for America…. I got an email full of “Tea Party” pictures and I thought I would post one just for Mr. Moore!
September 29, 2009
TEMECULA, California– Outdoor Channel Holdings, Inc. (NASDAQ:OUTD) , America’s leader in outdoor TV, has expanded its distribution agreement with Cox Communications to include three additional markets — Parma, Ohio, Las Vegas, Nevada and Hampton Roads, Virginia. Outdoor Channel will be carried on the Sports and Information tier in these markets; the network launched in Parma, Ohio on July 7th, in Las Vegas on July 28th and in Hampton Roads on July 30th.
The addition of these markets to Cox Cable Systems coincides with a multi-year agreement between Outdoor Channel and Cox Communications that renews their broader distribution relationship. The agreement strengthens the distribution partnership for Outdoor Channel’s standard definition (SD), high-definition (HD) network and video-on-demand (VOD) programming.
“Cox is a terrific partner and we are pleased to add three new markets to our existing relationship while renewing our broader distribution agreement,” said Tom Hornish, COO for Outdoor Channel. “These agreements ensure our popular hunting, fishing, shooting and adventure programs are available to Cox customers around the country for years to come.”
“We are committed to providing quality, focused programming that outdoor enthusiasts value,” said Randy Brown, Senior Vice President, Affiliate Sales and Marketing for Outdoor Channel. “We know that there is an avid base of hunters and anglers in these three Cox markets, and we are thrilled to be a part of their television experience.”
September 29, 2009
Record Quarterly Sales of $102 Million (+30%)
SPRINGFIELD, Mass., Sept. 9 /PRNewswire-FirstCall/ — Smith & Wesson Holding Corporation (Nasdaq: SWHC), parent company of Smith & Wesson Corp., the legendary 157-year old company in the global business of safety, security, protection and sport, today announced financial results for the first fiscal quarter ended July 31, 2009.
Net sales for the first fiscal quarter ended July 31, 2009 were $102.2 million, which was $23.8 million, or 30.3%, higher than net sales of $78.5 million for the first fiscal quarter last year. Gross profit of $35.6 million, or 34.8% of sales, for the first quarter of fiscal 2010 increased by 43.4% compared with gross profit of $24.8 million, or 31.7% of sales, for the first quarter last year. Net income for the first quarter of fiscal 2010 was $12.6 million, or $0.21 per diluted share, compared with $2.3 million, or $0.05 per diluted share, for the first quarter of fiscal 2009. Net income included a non-cash, fair-value adjustment to the contingent consideration accrual related to our acquisition of Universal Safety Response (“USR”) that increased fully diluted earnings per share by $0.05 in the current fiscal period. Adjusted EBITDAS, a non-GAAP financial measure, was $20.2 million for the first quarter, nearly double the $10.2 million in the first quarter of fiscal 2009.
Smith & Wesson President and CEO, Michael F. Golden, said, “Ongoing consumer demand for handguns and tactical rifles fueled our strong growth and allowed us to deliver record financial results in the first quarter. Higher production levels in our Springfield factory allowed us to capture additional revenue in the quarter, and a focus on controlling costs helped translate that revenue into profitability.”
September 29, 2009
David Foster of Bedford has had a hard time all year finding ammunition for his guns.
After finding mostly empty shelves at gun stores, he finally went to a gun show a few months ago to stock up.
“I couldn’t find it anywhere except the gun show, and even there I had a hard time,” said Foster, 31. “And it cost a lot.”
But workers in the weapons industry point to signs that a nearly yearlong nationwide ammunition shortage may be winding down. More ammo is making it to store shelves now, and the price is slowly coming down.
“We’re seeing the light at the end of the tunnel,” said DeWayne Irwin, owner of Cheaper Than Dirt, a Fort Worth store and online retailer. “I’ve been doing this business since 1988, and I’ve never seen something like this happen with ammunition. But it’s not going to be like this forever.”
Demand for guns and ammo began growing last year before the November presidential election. It continued partly because many gun owners were concerned that President Barack Obama and Democrats in Congress would reinstate an assault weapons ban or drastically hike taxes on ammunition, guns and firearms materials, analysts have said.
While there hasn’t been such action in Washington, apprehension remains and is likely playing a role in prompting people nationwide to not just buy guns and ammunition, but to stock up on them as well, some gun enthusiasts say.
“It was the new politics and the fear of the unknown,” said Robert Parks, store manager at the Alpine Shooting Range in Fort Worth. “That’s what triggered this. It was the not knowing if they were going to be able to purchase handguns or be taxed more.”
David Acker of The Woodlands noticed months ago that some types of ammunition were increasingly hard to find.
“I couldn’t get it when I needed it,” he said recently while shopping for ammo. “So I stocked up when I found it.”
But while many say ammunition is becoming more available at least in some parts of North Texas, that’s not the case everywhere, said Alan Korwin, author of Gun Laws of America.
“In places such as New Hampshire, I’m still getting calls about their having shelves still bare there,” he said. “Distribution around the country is spotty: In some places it’s better; in some it’s worse.”
Gun enthusiasts turned out in such great numbers — both new gun owners and those who wanted to shore up their personal supplies of ammunition — that 9 billion rounds have been sold this year, up from the typical 7 billion, National Rifle Association statistics show.
“At first, so many new handgun buyers were on the scene, and this, of course, had them purchasing quantities of ammo for these handguns,” said Jerry Dean, president of The Shooters Club in Fort Worth. “Now, it seems, there may be a new rush on, which is fueled by hoarders who want at least a thousand rounds per gun, or they don’t feel comfortable.”
Gun shops nationwide boosted their ammunition orders many months ago after they saw demand growing — a move that likely caught manufacturers off-guard.
Companies such as Winchester Ammunition went to 24-hour workdays to boost production.
“Demand for our product continues to be high,” said Valerie Peters, the company’s director of human resources. “Our facilities continue to run 24/7 to meet demand. We would not be in a position to say when demand may decrease.”
Easier to find
As ammunition supplies began to dwindle, prices went up.
“The prices over the last year doubled or tripled,” said Ron Taylor, a Denton man recently shopping for ammunition.
At Cheaper than Dirt, for instance, the price for a box of 9 mm bullets that typically sells for $14.98 at one point reached $39 per box. The cost now is around $19.97, Irwin said.
Some types of ammunition — from .380-caliber bullets to the .30 carbine — are still not easy to find, gun store workers say.
But overall, prices have come down somewhat, as ammunition has become more available. And while supplies are not back to normal, they are easier to find now than earlier this year, several local gun store workers say.
In a typical week last year, Irwin said he would order — and receive — 50 cases of 9 mm ammunition. He places the same order now and “we’re lucky to get three cases,” he said. “But a month ago, we would be lucky to get one case.”
Said Korwin, “Now, almost a year later, it’s easing up. Prices are dropping almost daily, supplies are coming in, demand is lowering and stores are cutting back on orders.”
Back to normal?
Some hope that if shooters have shored up their ammo supplies and manufacturers keep working around the clock, there will be a lull long enough to replenish stocks not just in North Texas, but nationwide.
Irvin said he hopes supplies and prices continue to improve in the coming months.
“I hope we’re back to normal next year sometime,” he said.
September 29, 2009
ST. PAUL, MINNEAPOLIS — Gander Mountain Company (www.GanderMtn.com;Nasdaq: GMTN – News), the nation’s largest retail network of stores for hunting, fishing, camping, and marine products and services and outdoor lifestyle apparel and footwear, has announced its intent to cease its public company status.
A special committee of the company’s board of directors, comprised of independent directors, has recommended, and the board of directors has approved, plans to cease the registration of its common stock with the Securities and Exchange Commission under the Securities Exchange Act of 1934. The company expects that, as a result of this deregistration, its shares of common stock will cease to be listed on the Nasdaq Global Market.
In order to ensure that it will be eligible to deregister its shares of common stock, in accordance with SEC rules and regulations, Gander Mountain will reduce its number of beneficial shareholders to below 300. To accomplish this, the special committee of the board recommended, and the board of directors approved, an amendment to the company’s articles of incorporation to effect a 1-for-30,000 reverse stock split of its common stock. After the reverse stock split, any shareholder holding less than one share will receive a cash payment of $5.15 for each share held prior to the reverse split. Immediately following the reverse stock split, the company will file a second amendment to its articles of incorporation to effect a 30,000-for-1 forward stock split. As a result, shareholders owning 30,000 or more shares of common stock at the time of the reverse split will retain their current numbers of shares of common stock without change and not receive cash in the transaction. The funding for the cash payment for the fractional shares described above will be provided by the company’s two largest shareholders, Gratco LLC and Holiday Stationstores, Inc.
Gander Mountain’s board of directors decided to pursue taking the company private after concluding that the disadvantages of remaining an SEC-reporting company, including the costs associated with ongoing regulatory requirements, outweighed the benefits of public company status to the company and its shareholders. Greene Holcomb & Fisher LLC, independent financial advisor to the special committee, determined that the cash-out price of fractional shares is fair from a financial point of view to those shareholders who would be cashed out in the proposed transaction.
Under Minnesota law, Gander Mountain’s board may amend its articles of incorporation to conduct the stock splits without the approval of the company’s shareholders, therefore it is not seeking the approval of the going-private transaction from our shareholders.
Once Gander Mountain becomes a private company, it intends to continue its efforts to improve operating performance and reduce its outstanding indebtedness. The company’s two largest shareholders have agreed to make an offer to purchase shares held by remaining shareholders following the going private transaction at the same price of $5.15 per share following effectiveness of the stock splits described above.
Prior to consummating the going-private transaction described above, the company must file a preliminary information statement and a transaction statement with the Securities and Exchange Commission. Following review by the SEC, the company intends to distribute a definitive information statement to its shareholders and to effect the going-private transaction as soon as practicable following the date that is 20 days after the distribution of the information statement to shareholders. The company anticipates the transaction will be completed in early 2010. If the transaction is completed, the company would no longer file periodic reports with the SEC.
The special committee and the board of directors each have reserved the right to change the terms of the proposed reverse stock split, including the split ratio, to the extent they believe it is necessary or desirable in order to accomplish the goal of reducing the number of beneficial holders to fewer than 300. The special committee may also abandon the proposed transaction at any time prior to its completion if it believes that the proposed transaction is no longer in the best interests of the company or its shareholders.
About Gander Mountain Company:
Gander Mountain Company (Nasdaq: GMTN – News), headquartered in Saint Paul, Minnesota, is the nation’s largest retail network of stores for hunting, fishing, camping, marine, and outdoor lifestyle apparel and footwear, products and services. Established in 1960, the Gander Mountain brand has offered an expanding assortment of outdoor equipment, technical apparel and footwear, as well as gunsmith and archery services. The stores feature national, regional and local brands as well as the company’s owned brands. Focused on a “We Live Outdoors” culture, Gander Mountain dedicates itself to creating outdoor memories. There are 116 conveniently located Gander Mountain outdoor lifestyle stores in 23 states and three outlet stores. Customers may also shop at www.GanderMtn.com. For the nearest store location call 800-282-5993 or visit www.GanderMtn.com. Gander Mountain is also the parent company of Overton’s (www.overtons.com), a leading catalog and Internet based retailer of products for boating and other water sports enthusiasts.
Cautionary Note Regarding Forward-Looking Statements
Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. In addition to the risk the transactions described herein will not be completed, certain of these risks and uncertainties are described in the “Risk Factors” section of the company’s Annual Report on Form 10-K for fiscal 2008 and other required reports, as filed with the SEC, which are available athttp://www.GanderMtn.com and at the SEC’s Website at http://www.sec.gov.
September 29, 2009
GunBroker.com®, which observed its 10th anniversary in March, reached another milestone when it hit $1 billion in cumulative merchandise sales on September 3, 2009.
Steve Urvan, founder and CEO of the world’s largest online auction site for firearms and hunting/shooting accessories, commented, “One billion is a huge number that would not have been remotely possible without the support of millions of hunting and shooting sports enthusiasts, as well as gun collectors, retailers and other firearms industry partners. A key factor in GunBroker.com’s sales growth is the increasing number of firearms retailers around the country who use our site to expand their business.”
Urvan added, “I am also very proud of our people, whose exceptional talent and hard work have made GunBroker.com a site that serves our buyers and sellers well, and keeps them coming back. Many thanks to all of you.”
GunBroker.com continues to grow, with more than 1.4 million registered users. The site currently draws around 2.7 million unique visitors per month and hosts over 300,000 auctions daily.
GB Investments, which operates GunBroker.com, is number 1,749 in the latest Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies. Hitwise, a Web site measurement service, ranks GunBroker.com third in the United States’ “Shopping and Classifieds-Auctions” category, exceeded only by eBay and eBay Motors. Quantcast, another online measurement service, ranks GunBroker.com among the 1,000 largest U.S. Web sites of any kind.
Not resting on its laurels, GunBroker.com recently launched a mobile site at http://m.gunbroker.com for cell phone and PDA users. The main site continues at www.gunbroker.com. Urvan and his staff are working with firearms industry veteran Bob Delfay on an initiative to form marketing/advertising partnerships with selected companies. GunBroker.com also partners with the industry through support of the NRA, National Shooting Sports Foundation, Hunting Heritage Trust, Shooting Sports Summit and USA Shooting. The site hosts the Hunting Heritage Trust’s Treasures and Traditions auctions and the Shooting and Hunting Outdoor Trade (SHOT) Show auctions, as well as numerous charity auctions to benefit a variety of causes.
To plan for future growth, GB Investments and Triton Value Partners recently combined to form TVP Investments, LLC, which provides executive management, strategic direction and corporate development to its subsidiaries GunBroker.com and other related companies. Urvan serves as CEO and chairman of TVP Investments.
GunBroker.com is an informative, secure and safe way to buy and sell firearms and hunting/shooting accessories. GunBroker.com promotes responsible gun ownership. Aside from merchandise bearing its logo, GunBroker.com sells none of the items listed on its Web site. Third-party sellers list items on the site and Federal and state laws govern the sale of firearms and other restricted items. Ownership policies and regulations are followed using licensed firearms dealers as transfer agents.
Jeff Patterson, Swanson Russell, (402) 437-6410, firstname.lastname@example.org
September 29, 2009
|Famous Quotes — new and historical|
September 29, 2009
SPRINGFIELD, MASSACHUSETTS – Smith & Wesson Corp., the legendary 157-year old firearms maker, announced today that it has commenced shipments of its M&P15 tactical rifles to Mexico’s Secretary of National Defense. The duty firearms will be distributed to police agencies including the Commission Federal de Electricidad (Federal Commission of Energy) and El Gobierno del Distrito Federal (Police of Federal District of Mexico).
Smith & Wesson has supplied 820 of its M&P15 tactical rifles to the Police of the Federal District of Mexico, as well as 1,500 of its M&P15 rifles to Mexico’s Department of Energy. The company has commenced armourer’s training for each agency, as well as range training for those specialized officers who will be authorized to carry the new patrol rifles.
As long standing customers of Smith & Wesson, both the Police of the Federal District of Mexico and Mexico’s Department of Energy have historically purchased the company’s revolvers, pistols and handcuffs.
Leland Nichols, Senior Vice President of Sales and Marketing for Smith & Wesson Corp., said, “We have continued to build upon our global customer base, supported by our broad offering of M&P firearm products. Our entire line of M&P tactical rifles and pistols has been designed and manufactured with the exacting requirements of our law enforcement customers in mind. We are proud to continue our successful relationship with the Police of the Federal District of Mexico and Mexico’s Department of Energy, as well as a number of other law enforcement agencies throughout Mexico.”
The M&P Rifle Series is based upon a combat-proven design and incorporates standard features designed to enhance ease of use and accuracy while in the field. The M&P15 is a rugged, lightweight, semi-automatic rifle with a 16-inch barrel, or a 14.5-inch barrel for law enforcement applications. The rifle is chambered for 5.56mm NATO (.223) ammunition and features a single-stage trigger with a 7-pound trigger pull. Both the upper and lower receivers on the rifles are constructed with a tough 7071 T6 aluminum and each rifle is furnished with an A2 military flash suppressor. Reliability features of the gas-operated rifles include a chrome-lined gas key, bolt carrier and barrel. The M&P15 rifle is designed to accommodate a variety of shooting positions through the use of a six-position adjustable stock and each rifle features a barrel twist of 1 in 9 inches. The M&P15 incorporates a traditional AR-15 design featuring a removable carry-handle and adjustable rear and front post sights, allowing for quick target acquisition and convenient handling. The black anodized rifle measures 35 inches in length when fully extended and a compact 32 inches with the stock collapsed. The M&P15 has an unloaded weight of 6.74 pounds.
About Smith & Wesson
Smith & Wesson Holding Corporation, a global leader in safety, security, protection and sport, is parent company to Smith & Wesson Corp., one of the world’s largest manufacturers of quality firearms and firearm safety/security products and parent company to Universal Safety Response, a full-service perimeter security integrator, barrier manufacturer and installer, as well as parent company to Thompson/Center Arms Company, Inc., a premier designer and manufacturer of premium hunting rifles, black powder rifles, interchangeable firearms systems and accessories under the Thompson/Center brand. Smith & Wesson licenses shooter protection, knives, apparel, and other accessory lines. Smith & Wesson is based in Springfield, Massachusetts with manufacturing facilities in Massachusetts, Maine, New Hampshire and Tennessee. The Smith & Wesson Academy is America’s longest running firearms training facility for law enforcement, military and security professionals. For more information on Smith & Wesson, call (800) 331-0852 or log on to www.smith-wesson.com. For more information on Universal Safety Response, log on to www.usrgrab.com. For more information on Thompson/Center Arms, log on to www.tcarms.com.
Matt Rice, Blue Heron Communications (800) 654-3766 or email@example.com