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Noranda Income Fund (the"Fund") (TSX:NIF.UN - News) reported net earnings of $7.1 million for the first quarter of 2010, compared to a net loss of $2.7 million in the same quarter a year ago.
"We've had a good quarter with net earnings of $7.1 million. During the quarter, the Processing Facility operated at normal operating levels. Production and sales met targeted levels. We are encouraged by the improvement we've seen in both fundamentals and demand for our products." said Mario Chapados, President and Chief Executive Officer of the Noranda Income Fund's Manager. "While there has been a clear and broad-based improvement in underlying economic trends and more stability in the financial markets, the Fund still faces some challenges, such as low zinc premiums and a stronger Canadian dollar. [Read the full article] GMAC Financial Services on Monday posted its first quarterly profit in more than a year and announced plans to rename itself Ally Financial Inc., as the consumer lender aims to put a failed foray into the mortgage business behind it. The Detroit-based company reported first-quarter earnings of $162 million compared with a year-ago loss of $675 million as its mortgage unit swung to a pretax profit and its core automotive business posted its fifth straight profitable quarter. Revenue rose 7 percent to $1.86 billion. [Read the full article] ThermoGenesis Corp. (Nasdaq:KOOL - News), a leading supplier of innovative products that process and store adult stem cells, announced today it will report financial results for the fiscal third quarter ended March 31, 2010, on Thursday, May 6, 2010. Management will host a conference call Thursday, May 6, 2010 at 2:00 PM Pacific (5:00 PM Eastern) to review the fiscal third quarter financial results. The call can be accessed by dialing 1-800-860-2442 within the U.S. or 1-412-858-4600 outside the U.S. and referencing, "ThermoGenesis." Mr. J. Melville Engle, Chief Executive Officer and Mr. Matthew Plavan, Executive Vice President, Chief Operating Officer and Chief Financial Officer will host the call to discuss the third quarter results and other corporate events, followed by a Q&A session. Participants are asked to call the assigned number approximately 5 minutes before the conference call begins. [Read the full article] Equinox Minerals Limited (TSX and ASX symbol: "EQN") ("Equinox" or the "Company") will release its 2010 first quarter results on Thursday, May 6, 2010. The report will be published at approximately 16:00 HRS (Toronto time), subject to change. The Company will host a conference call and webcast to discuss the results on Thursday, May 6, 2010. The call will be hosted by Equinox President & CEO, Craig R. Williams. 1. [Read the full article]
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