Lakeway, NY -- (SBWIRE) -- 02/01/2013 -- Otelco, Inc. (USA) (NASDAQ:OTT) stock surged 39.06% to $1.78. The company today announced a restructuring transaction, which will strengthen the Company by deleveraging its balance sheet and reducing its overall indebtedness by approximately $135 million.
Otelco has reached an agreement with its senior lenders to amend and extend the terms of its current senior financing through April 2016. In addition, our IDS units will be cancelled and the existing senior subordinated debt will be converted into equity.
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Life Time Fitness, Inc. (NYSE:LTM) shares declined 18.49% to $41.14 in the early hour after the company yesterday announced that for the fourth quarter of 2012, it expects revenue in the range of $273.0-275.0 million, net income of $22.0-23.5 million and diluted earnings per share (EPS) of $0.53-0.56. For fiscal 2012, it expects revenue of $1.125-1.127 billion, net income of $110.0-111.5 million and diluted earnings per share of $2.63-2.66. The Company previously provided guidance of $1.127-1.137 billion in revenue, net income of $114.5-116.0 million and diluted earnings per share of $2.73-2.76 for 2012.
Analysts are expecting the Company to report revenue of $279.0 million, net income of $27.6 million and EPS of $0.66 for the fourth quarter of 2012; revenue of $1.131 billion, net income of $115.7 million and EPS of $2.77 for fiscal 2012.
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SandRidge Mississippian Trust II (NYSE:SDR) shares declined 10.84% to $16.79 in the morning hour after SDR yesterday announced a quarterly distribution for the three-month period ended December 31, 2012 (which primarily relates to production attributable to the Trust's interests from September 1, 2012 through November 30, 2012) of $26.5 million, or $0.532557 per unit. The Trust makes distributions on a quarterly basis approximately 60 days after the end of each quarter. The distribution is expected to occur on or before March 1, 2013 to holders of record as of the close of business on February 14, 2013.
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OCZ Technology Group Inc. (NASDAQ:OCZ) shares dropped 6.67% to $2.10. The company, on Jan. 31, announced additional estimated financial information in an effort to further communicate with key constituents of the Company. The following preliminary estimates are subject to further review by the Company and its auditors. The Company estimates that its quarterly revenue will range between $65 million to $85 million in each quarter for the second and third fiscal quarters of 2013.
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Organovo Holdings Inc (PINK:ONVO) is trading higher 7% to $4.30, after falling 15% in the past one week. The recent fall should not surprise investors as the stock had solid run up earlier in January and shares of ONVO soared almost 70% in the past month on increased speculation.
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