TaxMasters, Inc. (OTC BB: TAXS.OB), the IRS tax relief company, announced the company's financial results for the first quarter ended March 31, 2010.
For the first quarter of 2010, TaxMasters net revenue increased 56.1% to approximately $11.3 million, compared to approximately $7.3 million for the first quarter of fiscal 2009. Total operating expenses for the first quarter of 2010 were approximately $9.9 million, an increase of 62.9% compared to $6.1 million for the same period in 2009.
From 2001 to 2008, TAXS has grown according to an aggressive and steady growth plan that took the IRS tax relief firm from 6 employees to over 200 in the span of 7 years. Growth is due in part to the national advertising campaigns that TAXS continues to run, and is a direct result of TAXS negotiating favorable outcomes for clients with IRS problems.
Baldor Electric Company (NYSE:BEZ) markets, designs, and manufactures industrial electric motors, mechanical power transmission products, drives, and generators and is based in Fort Smith, Arkansas.
Members of Baldor's management team visited with investors at the KeyBanc Industrial Conference in Boston and have updated sales guidance for 2nd quarter 2010. Due to continued strength in incoming orders for all products, Baldor now believes sales for 2nd quarter will be in the range of $435 to $445 million. This is an increase from the previous guidance of $415 to $430 million provided on April 28, 2010. At these higher levels of sales, Baldor believes the operating margin will be slightly better than the peak quarterly operating margin of 14.2%.
Solutia Inc. (NYSE:SOA), a leading global performance materials and specialty chemicals company,announced that Jeffry N. Quinn, chairman, president and CEO, will address investors at the Credit Suisse Future Energy Conference at 9:10 a.m. EDT on Thursday, June 3, 2010, in Washington, D.C. A live webcast of the presentation, along with the slides and replay will be available on the investor section of Solutia's website http://www.Solutia.com
TETRA Technologies, Inc. (TETRA or the Company) (NYSE:TTI) today commented on the impact of the recently announced deepwater drilling moratorium on its operations in the Gulf of Mexico.
Stuart M. Brightman, President and Chief Executive Officer, stated, “Given the uncertainty associated with the recently announced deepwater drilling moratorium, I want to clarify the extent of TETRA’s Gulf of Mexico deepwater exposure. Of our five operating segments, the only business impacted by the moratorium is the deepwater Gulf of Mexico operations of the Fluids Division. Our Fluids Division is comprised of onshore U.S. operations, international completion services operations, worldwide chemicals manufacturing and sales operations, shallow water Gulf of Mexico operations and deepwater Gulf of Mexico operations. The deepwater Gulf of Mexico component of the Fluids Division represents less than 10% of TETRA’s projected consolidated revenues in our 2010 earnings guidance released on January 5th of this year. We will continue to monitor the situation closely, and take such actions as we consider appropriate to minimize the impact of this moratorium on our operations in the Gulf of Mexico,” concluded Brightman.
Abercrombie & Fitch (NYSE: ANF) reported net sales of $197.6 million for the four-week period ended May 29, 2010, a 10% increase from net sales of $179.0 million for the four-week period ended May 30, 2009. May comparable store sales decreased 3%. For the fiscal month, total Company direct-to-consumer net merchandise sales increased 34% to $19.2 million. For the fiscal month, total Company international net sales, including direct-to-consumer net sales, increased 84% to $36.9 million.
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