Ener Kansas City Royals Second Quarter Financial
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Ener1 reports baseball tickets Second Quarter shows 2009 Financial Results and Management Call Scheduled forAugust 6NEW YORK, July 17 /PRNewswire-FirstCall/ -- Ener1, Inc. (Nasdaq: HEV)announced that it will release its second quarter results for 2009 onThursday, August 6, 2009, after the market close.Management will conduct aconference call on the same day at 5:00 p.m. Thepublicly traded company (Nasdaq: HEV) is led by an experienced team ofengineers and energy system experts at its EnerDel subsidiary located inIndiana. EnerDel has developed proprietary battery systems based on technologyoriginally pioneered with the assistance of the Argonne National Lab.Ener1 is seeking to become the first company to mass-produce acost-competitive lithium-ion battery for hybrid and electric vehicles. Demandfor battery solutions is being driven by a need to reduce dependence on oil aswell as growing concern about vehicle emissions.
In addition to the automobilemarket, applications for Ener1 lithium-ion battery technology include medical,military, aerospace, electric utility and other growing markets.Major shareholders of Ener1 include Ener1 Group, Inc., a privately held,global investment and advisory firm, and ITOCHU Corporation, a Japanesetrading company and distributor of manufacturing equipment essential tolithium-ion battery production cubs rooftop . ITOCHU has annual revenue of approximately $90billion and offices in more than 80 countries . BB&T reports 2nd quarter 2009 net income of $208 million; EPS totals $.20including regulatory costsBB&T announces agreement to repurchase TARP warrantWINSTON-SALEM, N.C., July 17 /PRNewswire-FirstCall/ -- BB&T Corporation (NYSE:BBT) reported today net income for the second quarter of 2009 totaling $208million and net income available to common shareholders totaling $121 million,or $.20 per diluted common share, compared with $428 million, or $.78 perdiluted common share, earned during the second quarter of 2008 . Results forthe second quarter of 2009 produced annualized returns on average assets andaverage common shareholders' equity of .56% and 3.43%, respectively.Results for the quarter were reduced by a special assessment from the FDICtotaling $.07 per diluted share and accelerated amortization on the preferredstock repaid to the United States Department of the Treasury (the "Treasury")in connection with the Troubled Asset Relief Program (TARP) totaling $.08 perdiluted share . These costs were partially offset by gains on sales ofsecurities and extinguishment of debt, which increased earnings per dilutedshare by $.06.BB&T also recorded a $701 million provision for credit losses in the secondquarter. The provision for credit losses exceeded net charge-offs by $250million and resulted in an increase in the allowance for loan and lease lossesas a percentage of loans and leases held for investment to 2.19% at June 30,compared to 1.94% at March 31 and 1.62% at Dec.
31, 2008."I am pleased with our overall second quarter results considering thedifficult economic conditions and the aggressive measures we have takenrelating to the challenging credit environment," said President and ChiefExecutive Officer Kelly S King kansas city royals . "We absorbed a $701 million loan lossprovision during the quarter and a number of special items that negativelyaffected earnings . However, our underlying revenue growth was strong at 13%for the quarter compared to the second quarter last year . Also, we enjoyedanother outstanding quarter in mortgage banking production, with a record $8.5billion in originations, and a record quarter from our insurance revenues, up19% .