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OTC Stock Review: Stocks in Motion for Tuesday, October 07, 2008 are
Optibase Ltd., G&K Services Inc., I-many, Inc., and Mesa Air Group Inc.
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:07102008
Optibase Ltd. (NASDAQ: OBAS), a leading provider of advanced digital
video solutions, announced today that its advanced encoders were
selected by UTStarcom (NASDAQ: UTSI), a global leader in IP-based,
end-to-end networking solutions and services, as part of an integrated
IPTV solution to United Telecoms Ltd., Bangalore, that was chosen to
supply and implement Goa Broadband Network.
UTStarcom's RollingStream advanced IPTV solution, incorporating
Optibase's H.264 streaming platforms, will provide Goa's citizens top
broadcast quality TV and advanced on-demand entertainment services over
IP networks. This deployment by United Telecoms represents another
strategic project for UTStarcom and Optibase in India, one of the
world's largest IPTV markets. It further solidifies Optibase's position
as the market leader in India, serving three major Telco providers:
Aksh Optifibre Limited, Time Broadband Services and Bharti Airtel
Limited.
G&K Services Inc. (NASDAQ: GKSR), which makes and rents workplace
uniforms, said Tuesday it will cut jobs and close plants in a move to
reduce costs amid a difficult economic environment. The company has
closed or plans to close three processing plants and two branch
locations, cut an undisclosed number of jobs at U.S. and Canadian
corporate locations and outsource some plant functions.
The restructuring moves will cost $2.5 million and eventually result in
pretax savings of about $3.5 million to $4.5 million, according to the
company. Minneapolis-based G&K said reductions in customer employment
levels, higher energy costs and increasing prices for operating items
such as textiles, freight and hangers are hurting results. The company
also increased its reserve for environmental matters by $4.5 million
and established a reserve of about $3.5 million for recent changes in
compensation laws. Both changes will hurt fiscal first-quarter earnings
by about 42 cents per share, and the company lowered its first-quarter
guidance accordingly.
I-many, Inc. (NASDAQ: IMNY), a leading provider of contract management
software and services for the enterprise, will hold a conference call
on Thursday, October 30, 2008, at 4:30 p.m. Eastern Time to discuss
results for the third quarter ended September 30, 2008. Financial
results will be issued in a press release after the close of the market
the same day.
I-many Chairman, President and CEO John A. Rade and CFO Kevin M. Harris
will host the presentation, followed by a question and answer period.
Date: Thursday, October 30, 2008 Time: 4:30 p.m. Eastern Time (1:30
p.m. Pacific Time) Dial-In Number: 1-800-894-5910 International:
1-785-424-1052 Conference ID#: 7IMANY
The call is also being webcast, and will be accessible via I-many's
investor section at www.imany.com.
Mesa Air Group Inc. (NASDAQ: MESA) said on Tuesday it has reached a
tentative agreement with its pilots. Mesa and the pilots said in a
joint statement that rank-and-file voting on the tentative agreement is
expected to begin in mid-November, with results by the end of the
month. Mesa's nearly 1,200 pilots are represented by the Air Line
Pilots Association.
The deal was made after 10 months of negotiations. Mesa and the pilots
said the agreement would resolve scheduling issues between the airline
and its aviators. Mesa flies under its own name in addition to flying
for Delta Air Lines Inc., US Airways Group Inc. and UAL Corp.'s United
Airlines.
OTC Stock Review is not a Registered Investment Advisor or
Broker/Dealer. The information in this newsletter is for informative
purposes, not intended as investment advice, not an offer to buy or
sell securities of the companies profiled, and is subject to change
without notice. Officers, directors, and employees of OTC Stock Review,
may hold a long or short equity position of a profiled company and
trade in these securities for their own accounts. Information is from
public releases and can not be guaranteed by OTC Stock Review.
Companies profiled may carry a high investment risk; readers should
review profiled companies thoroughly with their investment advisor,
stockbroker, or other such professional. OTC Stock Review is not liable
for any investment decisions by its readers or their advisors. Any
analysis contained herein does not purport to be a complete analysis
and reader's are encouraged to obtain copies of the profiled Company's
periodic reports filed with United States Securities and Exchange
Commission which are generally available at http://www.sec.gov or
http://www.sedar.com for Canadian companies.
CONTACT: David Kugelman, OTC Stock Review
Tel: +1 866 692 6847
e-mail: info@otcstockreview.com
((M2 Communications Ltd disclaims all liability for information
provided within M2 PressWIRE. Data supplied by named party/parties.
Further information on M2 PressWIRE can be obtained at
http://www.presswire.net on the world wide web. Inquiries to
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Copyright ? 2008 M2 Communications Ltd.
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