Orbitz Worldwide, Inc. Reports Fourth Quarter and Full Year 2009 Results

OrbitzWorldwide, Inc. (NYSE:OWW – News) today announced results for the fourth quarter and full year ended December 31, 2009.  

“We have made tremendous progress this past year towards strengthening our global hotel business and we are pleased with our momentum heading into 2010.  During 2009, we significantly improved our customer value proposition by removing air booking fees on most flights, eliminating our hotel change and cancellation fees, launching Hotel Price Assurance, launching Total Price hotel search results, cutting hotel booking fees and enhancing our hotel Low Price Guarantee program,” said Barney Harford, president and CEO of Orbitz Worldwide. [Read the full article]

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Derma Sciences, Inc. (Nasdaq:DSCI – News), a specialty medical device/pharmaceutical company focused on advanced wound care, today announced that the underwriter of its recent public offering has exercised its over-allotment option, resulting in the issuance of an additional 145,800 shares and warrants to purchase 48,600 shares.  Derma Sciences closed its previously announced follow-on equity offering, for a total of 1,117,800 common shares and warrants to purchase 372,600 shares.   Each share, together with a warrant to purchase one-third of a share, was priced at $5.00.  The exercise price of the warrants in the offering is $5.50.  The Company realized net proceeds of $4.7 million from this offering.

Proceeds of the offering will be used towards paying Comvita New Zealand for the perpetual worldwide licensing rights to MEDIHONEY Derma Sciences’ market-leading Advanced Wound Care product. [Read the full article]

MHI Hospitality Corporation (Nasdaq:MDH – News) (“the Company”), a self-advised lodging real estate investment trust (REIT), today reported its consolidated results for the fourth quarter and year ended December 31, 2009.

Funds from Operations (“FFO”) increased 155.9% over fourth quarter 2008, or approximately $0.7 million to approximately $1.2 million, or $0.11 per share, for fourth quarter 2009. [Read the full article]

Japan’s second-largest private life insurer is seeking to raise an estimated $16.5 billion in April in one of the country’s largest initial public offerings.

Dai-ichi Mutual Life Insurance Co. said Monday that it will issue 10 million shares after the Tokyo Stock Exchange approved the listing of the insurer on April 1. The step would demutualize the company, it said.

At a tentative price of 150,000 yen ($1,650), the issue would give Dai-Ichi a market capitalization of 1.5 trillion yen ($16.5 billion), the Nikkei business newspaper reported.

The insurer is expected to have about 1.5 million shareholders, many of them its clients, the largest number among Japan’s publicly traded companies, exceeding the 1.03 million shareholders at Nippon Telegraph and Telephone Corp., the Nikkei said.

Dai-ichi will sell up to 7,106,170 shares, including 4.6 million in Japan and about 2.5 million overseas, the company said in a statement. [Read the full article]

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