American International Group
named Arthur Levitt a special adviser to its board and the board's nominating and corporate governance committee. His duties will include advice to potential nominees for election to the board, as well as board procedures, structure and governance issues, the company said. Levitt is the former chairman of the
Securities and Exchange Commission
said it earned $23.1 million, or $1.60 a share, for the fourth quarter ended April 30, compared with $3.2 million, or 23 cents a share, a year ago. This latest quarter's results included a $17.2 million reversal of deferred tax asset valuation allowances. Excluding items, the company earned $5.9 million, or 41 cents a share. Revenue for the quarter was $29.8 million, an increase of 14% from a year earlier. Analysts expected earnings of 39 cents a share on revenue of $29.8 million, according to Thomson First Call. For the first quarter, the company expects to earn 14 cents to 17 cents a share on revenue of $24 million to $25 million. Both are well below forecasts, and the stock tanked.
Bob Evans Farms
reported that same-store sales in its Bob Evans Restaurants fell 3.1% in June. Average menu prices increased 0.5%, according to the company. The restaurant operator also stated that its Mimi's Cafe same-store sales increased 3%. The stock was down 32 cents, or 1.36%, to $23.26 on Instinet.
announced that it will acquire ProfitLogic, a privately held retail software maker, for an undisclosed amount. The company's applications are aimed at the retail supply chain. The deal is expected to close by the end of July. Oracle eased on Instinet.
announced that Valleylab, a division in its health care segment, has acquired a developer of microwave ablation medical technology, Vivant Medical, for $66 million cash, with up to $35 million more to be paid based on future milestones. "The combination of Valleylab and Vivant offers interventional radiologists, surgeons and cancer patients the most comprehensive portfolio of technology and therapies to improve clinical outcomes," said Scott Drake, President of Valleylab. The stock was down 63 cents, or 2.15%, to $28.72 in after-hours trading.
said that it has reached an agreement with
to settle two patent infringement lawsuits. Under the settlement, Micromuse will pay Agilent a nonmaterial sum. Neither company made any admission of wrongdoing.
In a separate statement, Micromuse announced that it will acquire privately held software company GuardedNet for $16.2 million in cash. The deal is expected to close during the fourth quarter ending Sept. 30. Micromuse was down 3 cents, or 0.35%, to $5.65 in after-hours trading, while Agilent was unchanged at $23.62.
announced it has filed an additional mixed shelf registration with the SEC for the future sales of $100 million in bonds, common and preferred stock, and other securities. The offering is in addition to $200 million of unsold securities from a previous shelf registration statement. Aviall said it expects to use any proceeds from the sales for general corporate purposes. The stock was unchanged at $31.45.
Jackson Hewitt Tax Services
announced that its board has authorized a new $50 million share repurchase program. The tax service provider has completed all purchases under its previously announced 500,000-share buyback. The stock was unchanged at $24.67.