SARASOTA, Fla., Nov. 22, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Investors may want to keep an eye on Emerson Oil and Gas, Inc., (Pink Sheets:EOGI), KMG Chemicals, Inc. (Nasdaq:KMGB), Speedus Corp. (Nasdaq:SPDE) and Interchange Corporation (Nasdaq:INCX).
Monday's Alert:
Energy investors will want to watch Emerson Oil and Gas, Inc., (Pink Sheets:EOGI). Emerson announced on Friday after the closing bell that the well has been completed and is set for production. The company stated that, "Upon completion of the fracture done at 10,240 and 10,246 feet, the tubing pressure was 3450 psi. The operator has recommended hook up to a pipeline for production." Dave Harker President and CEO stated, "We are extremely pleased and very excited with the results as we complete on the W.T Davis property. The company is thrilled with this development and looks forward to taking Emerson Oil and Gas Inc., into a revenue generating company, with several more prospects on the horizon."
EOGI trades at around .25 a share.
KMG Chemicals, Inc. (Nasdaq:KMGB), announced Thursday its unaudited financial results for the first fiscal 2005 quarter ended October 31, 2004. For the first fiscal 2005 quarter, net income was $0.67 million or $0.09 per diluted share, up from $0.32 million or $0.04 per diluted share reported for the same quarter in fiscal 2004. Fiscal first quarter net sales were $13.59 million, up from $8.37 million during the year earlier period.
KMGB traded 832,384 shares Friday to end at 8.65, up 4.76 (122.37%).
Trading heavier than usual Friday was Speedus Corp. (Nasdaq:SPDE). SPDE traded 1,290,429 shares Friday to end at 2.54, up 0.57 (28.93%).
Speedus announced earnings of $7.9 million, or $0.47 per share on a fully diluted basis, for the nine months ended September 30, 2004 compared to a net loss of $9.3 million, or $0.56 per share on a fully diluted basis, for the nine months ended September 30, 2003. Earnings before depreciation and amortization for the nine months ended September 30, 2004 were $8.8 million compared to a loss of $8.6 million for the nine months ended September 30, 2003.
Also trading heavy was Interchange Corporation (Nasdaq:INCX). INCX traded 4,834,770 shares Friday to end at 26.41, up 4.46 (20.32%).
Interchange Corporation announced revenue of $5.38 million for the third quarter of 2004, compared to $2.15 million for the same period of 2003 representing a year over year increase of 150%. Net income was $288,000 for the third quarter of 2004 compared to $93,000 for the same period of 2003, representing a year over year increase of 209%. Basic and diluted net income per share for Q3 2004 was $0.15 and $0.06, respectively.
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