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Los Angelas, CA -- (SBWIRE) -- 01/08/2013 -- RF Industries Ltd. (NASDAQ:RFIL) announced preliminary unaudited financial results for the fiscal fourth quarter and year ended October 31, 2012. For the fourth quarter ended October 31, 2012, preliminary unaudited revenues increased $4.5 million, or 77%, to $10.5 million as compared to $6.0 million in the same quarter of fiscal 2011. Preliminary unaudited consolidated net income for the quarter was $1.2 million, or $0.17 per basic and $0.15 per diluted share, compared to consolidated net loss of $50 thousand, or $0.01 net loss per basic and diluted share in the fourth quarter of 2011. For the fiscal year ended October 31, 2012, preliminary unaudited revenues increased 56% to $30.2 million as compared to revenues of $19.4 million in fiscal 2011. Preliminary unaudited consolidated net income was $2.6 million or $0.38 per basic and $0.34 per diluted share as compared to consolidated net income of $773 thousand or $0.12 per basic and $0.11 per diluted share in the same prior year period.
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Kinross Gold Corporation (NYSE:KGC) refutes a Wednesday statement by Southridge Enterprises (SRGE.PK) which reported a joint partnership between itself and Kinross concerning the Cinco Minas and Gran Cabrera properties in Mexico. The press release contained several statements in regards to the value and status of the joint venture, along with a quote from a Kinross employee. In a quote from the later release, the former said that, “Kinross wishes to make clear that there is no such joint partnership, joint venture or other similar such arrangement or agreement in place, and nor do we expect there to be such a joint partnership, agreement, acquisition, investment or other equivalent transaction involving Kinross and Southridge in the foreseeable future.”
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McDonald's (NYSE:MCD) bucked the broad trend today, gaining 1.1% on word that it's expanding its chicken wings pilot program. The fast food chain had rolled out wings in Atlanta last year, and is now planning a test starting this week at about 500 restaurants in Chicago. Rising costs for wings could present a challenge for McDonald's, however, and a nationwide rollout by McDonald's could send prices even higher. Separately, rival Yum! Brands fell more than 5% after hours, saying that KFC sales in China will fall due to a recent government investigation of its poultry.
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Disney (NYSE:DIS) had a worse day than Boeing, falling 2.3% on reports that it was preparing to implement cost-cutting measures. Wall Street generally rewards companies making such moves, but the announcement apparently caught the market off guard. The internal review could lead to layoffs in several areas, and CEO Bob Iger has called 2013 a "transition year," after the company made large investments in theme parks and cruise ships last year.
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