Olympic Steel, Inc. (Nasdaq: ZEUS) reported that it completed a new $125 million five-year asset based credit facility on June 30, 2010 (the “ABL Facility”). The new ABL Facility, which replaces the Company’s existing $130 million credit facility that was due to expire in December 2011, provides, subject to certain conditions (including obtaining additional commitments)
TaxMasters, Inc. (OTC BB: TAXS.OB) the IRS tax relief company, recently reported 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. For the first quarter of 2010, the company reported net income from operations of approximately $1.5 million, an increase of approximately 20% compared to approximately $1.2 million for the same period in 2009. The increase was attributable to the increase in revenue offset by increases in compensation costs and advertising expenses. For the quarter ended March 31, 2010, the company reported net income of approximately $0.9 million, versus net income of approximately $1.2 million for the first quarter of fiscal 2009. The decrease in net income for the first quarter of 2010 compared to the same period in 2009 is mainly due to the tax expense of $0.5 million for the first quarter of 2010.
IMAX Corporation (Nasdaq: IMAX) and 20th Century Fox reported today that James Cameron’s blockbuster hit “Avatar” will be re-released in IMAX(r) 3D on August 27, 2010 for a limited two-week run. The re-release of “Avatar” will include eight minutes of additional, never before seen footage, providing moviegoers with the opportunity to see the film again or experience it for the first time. “Avatar” has grossed approximately $235 million in box office revenues in IMAX to date, making it the top grossing Hollywood IMAX release of all time.
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