| NAPOCOR seeking new power rate cut
State-owned National Power Corp. is set to file an application with the Energy Regulatory Commission (ERC) for another power rate reduction. NAPOCOR sources disclosed that the power firm would file applications to reduce its generation rate adjustment mechanism (GRAM) and currency exchange rate adjustment (ICERA) covering 2005 to 2006. It was during this period that NAPOCOR enjoyed foreign exchange gains, so it is possible that the state-owned power firm would apply for lower ICERA, sources pointed out. It was also during this period that purchases from independent power producers (IPPs) of NAPOCOR also improved. "It is possible that the ICERA could be lower. There was also a noted lower fuel cost during these periods," sources said.
Orchestrating a classical success
Twenty years ago, budget CD brand Naxos came out of nowhere to take on the giants of music recording and publishing. Now it is taking orchestras to cyberspace, writes Barney Zwartz. WHEN KLAUS Heymann formed a small classical record company in Hong Kong for the South-East Asian market in 1987, he thought the big labels would run him out of business within three years. He certainly did not expect that 20 years on he would have single-handedly changed the face of the industry, becoming the world's leading provider of classical CDs and leading it into the internet age. Last year his Naxos label produced 230 newly recorded titles - as many as the big labels such as EMI and Deutsche Grammophon put together - and sold 7 million CDS. In Australia, they still cost less than $10, the same price as 20 years ago.
Versus Technology Announces First Quarter Results
TRAVERSE CITY, Mich., March 8 /PRNewswire-FirstCall/ -- Versus Technology, Inc. ("Versus" or the "Company") announced revenues of $1,133,000 for the fiscal quarter ended January 31, 2007, compared to $1,198,000 for the same period in 2006. Versus' quarterly revenues can vary significantly depending upon the timing of delivery of major customer projects. Accordingly, the revenues reported in any one quarter are not necessarily indicative of what full year results will be. Gross profits as a percentage of revenues increased to 61% for the quarter from 59% for the same period in 2006. While sales and marketing expenses increased by 29% over the previous year, total operating expenses decreased by 1%. Versus reported a net loss of $212,000 for the quarter, compared to a net loss of $375,000 for the same period in 2006.
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