(NASDAQ: GKSR), a market leader in branded identity apparel programs and facility services, recently announced specific actions taken to reduce expenses in light of the continued difficult economic environment and has established reserves for certain matters. The expenses associated with these activities, additional reserves and continued economic softness will result in fiscal 2009 first quarter revenue and earnings per diluted share results which will be below previously provided guidance. "On-going economic softness continues to pressure our overall performance," said Richard Marcantonio, G&K's chairman and chief executive officer. "Accordingly, we are executing against a set of very specific actions. We believe these steps will enable G&K to better address continued challenging economic conditions, deliver improved profitability moving forward and provide reserves for recent events. Our strong financial condition, combined with driving customer focus and competitive advantage, positions G&K for future revenue and earnings growth."
All Asia Licensing Inc. (Pink Sheets: AASI), recently announced that it accepted an invitation for its chief scientist to lead a workshop September 23-25 in China at a major international conference on little-known animal diseases. "This prestigious invitation from an arm of China's Ministry of Agriculture is a direct result of our recently-announced Letter of Intent to enter the bio research market to test for BSE (Bovine Spongiform Encephalopathy) also known as 'Mad Cow' Disease," according to Anthony Lee, CEO of All Asia Licensing. The National Diagnostic Center for Exotic Animal Disease of China is the main sponsor of the Third OIE (Office International des Epizooties Regional Workshop and Working Group Meeting on BSE and other Prion Diseases. The conference is also co-sponsored in Qingdao, People's Republic of China by its Animal Health and Epidemiology Center (CAHEC). The main topics at the conference will be the control of Mad Cow Disease, Rapid Prion Testing and Prion disease diagnosis. Prions are a family of rare progressive neurodegenerative disorders. The Letter of Intent announced between All Asia and its proposed joint venture partner is subject to change, completion of due diligence by both parties, creation of a final contract and approval of both Boards of Directors, among other things. All Asia Licensing Inc. is a major conduit for investors to access the rapidly growing Chinese economy. By acquiring a controlling stake in unique Chinese businesses, using its contacts to work with governmental agencies, providing capital and international-minded management, the Company enables these companies to prosper in their own industries. Working with small-to-medium sized companies, All Asia assists clients by using a comprehensive suite of services of business management, consulting services and technical support.
About U.S. Equity News
U.S. Equity News provides information, resources and news services for investors of small-cap, micro-cap and emerging companies. U.S. Equity News distributes RSS news feeds and a free subscription-based newsletter available through its website at www.usequitynews.com.
U.S. Equity News is a financial news distribution service by Equity Solutions, Inc. (www.equityirsolutions.com) that provides a platform for public companies to disseminate important news to key Wall Street interest such as shareholders and new investors. Equity Solutions, Inc. can assist by providing an effective increase in the awareness of a public company's news, development and corporate story through its proprietary network and its financial portal. U.S. Equity News and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.USEquityNews.com.
