Danaher to Present at RW Baird 2009 Industrial Conference

WASHINGTON, Nov. 4 /PRNewswire-FirstCall/ -- Danaher Corporation announced that President and Chief Executive Officer, H. Lawrence Culp, Jr. will be presenting at the RW Baird 2009 Industrial Conference in Chicago, IL on Wednesday, November 11, 2009 at 7:45 a.m. CST. The audio will be simultaneously webcast on http://www.danaher.com/. A replay of the webcast will be available for one week following the presentation.

Danaher , based in Washington. D.C., is a diversified technology leader that designs, manufactures, and markets innovative products and services to professional, medical, industrial, and commercial customers. Our portfolio of premier brands is among the most highly recognized in each of the markets we serve. Driven by strong core values and a foundation provided by the Danaher Business System, our 50,000 associates serve customers in more than 125 countries and generated $12.7 billion of revenue in 2008. For more information please visit our website: http://www.danaher.com/.

Danaher Corporation

CONTACT: Matt R. McGrew, Vice President, Investor Relations, Danaher
Corporation, +1-202-828-0850, Fax: +1-202-828-0860

Web Site: http://www.danaher.com/

Central European Distribution Corporation to Host Its Third Quarter 2009 Earnings Conference Call

BALA CYNWYD, Pa., Oct. 28 /PRNewswire-FirstCall/ -- Central European Distribution Corporation will have its third quarter 2009 earnings conference call on November 4, 2009 at 8:30 a.m. Eastern Time. The conference call will be broadcast live over the internet. William Carey, Chairman and Chief Executive Officer, and Chris Biedermann, Vice President and Chief Financial Officer, invite you to listen to their discussion of third quarter 2009 results.

To listen to the call live, you must go to the following web cast at least fifteen minutes early in order to register. You can then download and install any necessary audio software. For those who cannot listen to the live broadcast, a replay of the discussion will be available shortly after the call on our website at http://www.cedc.com/.

What: Central European Distribution Corporation Third Quarter 2009 Earnings Conference Call When: Wednesday, November 4, 2009 at 8:30 a.m. Eastern Time Where: http://www.videonewswire.com/event.asp?id=63572 How: Live over the Internet - Simply register and then log on to the web at the address above Contact: James Archbold, Director of Investor Relations, (610) 660-7817 TO LISTEN TO THE CONFERENCE CALL PLEASE DIAL IN: International Calls: 785-830-1942 Toll Free: 800-768-6570 Confirmation Code: 9313345

CEDC is one of the largest vodka producers in Poland and produces the Absolwent, Zubrowka, Bols and Soplica brands, among others. CEDC currently exports Zubrowka to many markets around the world, including the United States, England, France and Japan. CEDC also produces and distributes Royal Vodka, the top selling vodka in Hungary, and produces Parliament Vodka, the leading sub-premium vodka in Russia. CEDC also has an equity stake in the Russian Alcohol Group which produces Green Mark, the number one selling vodka in Russia along with Zhuravli, another top-selling sub-premium vodka in Russia.

CEDC also is the leading national distributor of alcoholic beverages in Poland by value, and a leading importer of alcoholic beverages in Poland and Hungary. In Poland, CEDC imports many of the world's leading brands, including brands such as Carlo Rossi Wines, Concha y Toro wines, Metaxa Brandy, Remy Martin Cognac, Guinness, Sutter Home wines, Grant's Whisky, Jagermeister, E&J Gallo, Jim Beam Bourbon, Sierra Tequila, Teacher's Whisky, Campari, Cinzano, Skyy Vodka and Old Smuggler. CEDC is also a leading importer of premium spirits and wines in Russia with such brands as Hennessey, Moet & Chandon and Concha y Toro, among others.

This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of CEDC to be materially different from any future results, performance or achievements expressed or implied by our forward looking statements.

Investors are cautioned that forward looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements. CEDC undertakes no obligation to publicly update or revise any forward looking statements or to make any other forward looking statements, whether as a result of new information, future events or otherwise, unless required to do so by securities laws. Investors are referred to the full discussion of risks and uncertainties included in CEDC's Form 10-K for the fiscal year ended December 31, 2008, including statements made under the captions "Item 1A. Risks Relating to Our Business", its Current Report on Form 8-K filed on July 13, 2009 and in other documents filed by CEDC with the Securities and Exchange Commission and risks arising from current credit market and economic conditions globally and in the markets in which we operate.

Contact: In the U.S.: James Archbold Director of Investor Relations Central European Distribution Corporation 610-660-7817 In Europe: Anna Zaluska Corporate PR Manager Central European Distribution Corporation 48-22-456-6001

Audio: http://www.videonewswire.com/event.asp?id=63572 Central European Distribution Corporation

CONTACT: In the U.S., James Archbold, Director of Investor Relations,
+1-610-660-7817, or In Europe, Anna Zaluska, Corporate PR Manager,
+48-22-456-6001, both of Central European Distribution Corporation

Web Site: http://www.cedc.com/

Alcatel-Lucent Collaborates with ng Connect Members to Demonstrate the Future of the In-Vehicle Broadband Experience with the Launch of the 'LTE Connected Car' Concept VehicleLeading provider of LTE networks expands the range of mobile broadband applications with innovative automotive connectivity showcase on wheels

PARIS, Nov. 4 /PRNewswire-FirstCall/ -- Alcatel-Lucent (Euronext Paris and NYSE: ALU) today highlighted its leading role in the development of the LTE Connected Car concept, an in-vehicle broadband connectivity showcase introduced by the ng Connect Program. The LTE Connected Car illustrates how 4G/Long Term Evolution (LTE) mobile broadband access technology is poised to bring a host of new applications and services to the automobile that are not possible today with current wireless technologies. As part of its collaboration with other ng Connect member companies, Alcatel-Lucent leveraged its unmatched expertise in the development of sophisticated mobile broadband, triple play and multimedia networks to create a powerful new category of mobile device.

Through the ng Connect Program, Alcatel-Lucent is leading the way in fostering innovation and the creation of new applications integrated with the end-to-end network. Alcatel-Lucent pre-integrates and tests this open ecosystem of applications and devices with our end-to-end LTE all-IP network. In essence, Alcatel-Lucent provides the "connected" in the LTE Connected Car concept vehicle.

Alcatel-Lucent, one of the early leaders in the emerging market for LTE mobile broadband networks, played a central role in the integration of this concept vehicle, a virtual "smartphone on wheels." For instance, Alcatel-Lucent combined an LTE broadband radio link - which brings cloud-based multimedia services into the car - with an in-vehicle WiFi environment to support easy integration with traditional home-based services. Alcatel-Lucent also helped manage the integration of the car's wireless networks with the on-board operating system provided by QNX Software Systems, a leading provider of embedded systems. Additionally, the company managed the end-to-end integration of the multimedia services - including mobile, multiplayer video gaming, video on demand and more - that are available in the vehicle. Combined, these capabilities enable this networked concept vehicle to offer a wide range of navigation, personal security, vehicle wellness, and "infotainment" services to drivers and passengers alike.

"The LTE Connected Car concept vehicle highlights just one of the exciting new ways that mobile service providers can potentially expand the range of connected experiences available to their subscribers," said Derek Kuhn, Vice President for Emerging Technology and Media with Alcatel-Lucent. "As we move into the 4G era, where very high-bandwidth, IP-based wireless connections will be widely available, service providers and their customers will be looking for interesting and creative ways to take advantage of the new capabilities these networks offer. Alcatel-Lucent has the vision of what is truly possible, and is dedicated to harnessing the strengths of the most creative companies in every industry to help make this vision a reality in the future."

The LTE Connected Car showcase was developed through collaboration between Alcatel-Lucent, Atlantic Records, QNX Software Systems, Toyota Motor Sales USA, Inc., chumby and Kabillion. These companies, each leading players in their respective industries, were brought together by Alcatel-Lucent, which has extensive experience developing the multi-faceted "ecosystems" needed to support sophisticated, multi-technology service offerings. The experience that Alcatel-Lucent gained through its pioneering role in the establishment of triple-play networks and services was applied directly to the challenge of developing the LTE Connected Car concept vehicle, which was envisioned and produced in just a few short months.

The LTE Connected Car concept highlights the kinds of profoundly enhanced end-user experiences that can someday be made possible through Alcatel-Lucent's application enablement vision, which involves combining the trusted capabilities of the service provider network with the open innovation of the Web. This combination of openness and service intelligence allows service providers to make information such as subscriber location, preferences and other relevant information available - in a safe and secure way that protects the privacy of individual subscribers - to application developers and content providers to foster the creation of new services. The LTE Connected Car project is a prime example of the potential for Application Enablement in action.

For more information on these features and an interactive demonstration of the LTE Connected Car experience visit: http://www.ngconnect.org/lteconnectedcar

For more information about Alcatel-Lucent's end-to-end LTE solution, please visit:

http://www.alcatel-lucent.com/lte About The ng Connect Program

The ng Connect Program is a multi-industry collaboration among leading network, device, application and content suppliers to develop pre-integrated examples of applications and services for 3G and 4G/LTE networks.

About Alcatel-Lucent

Alcatel-Lucent (Euronext Paris and NYSE: ALU) is the trusted partner of service providers, enterprises and governments worldwide, providing solutions to deliver voice, data and video communication services to end-users. A leader in fixed, mobile and converged broadband networking, IP technologies, applications and services, Alcatel-Lucent leverages the unrivalled technical and scientific expertise of Bell Labs, one of the largest innovation powerhouses in the communications industry. With operations in more than 130 countries and the most experienced global services organization in the industry, Alcatel-Lucent is a local partner with a global reach. Alcatel-Lucent achieved revenues of Euro 16.98 billion in 2008 and is incorporated in France, with executive offices located in Paris. For more information, visit Alcatel-Lucent on the Internet: http://www.alcatel-lucent.com/

Alcatel-Lucent

CONTACT: Alcatel-Lucent Press Contacts: Peter Benedict, + 33 (0)1 40 76
50 84, pbenedict@alcatel-lucent.com, or Kurt Steinert, +1-908-285-1641,
kurt.steinert@alcatel-lucent.com; Alcatel-Lucent Investor Relations Contacts:
Rémi Thomas, + 33 (0)1 40 76 50 61, remi.thomas@alcatel-lucent.com, Don
Sweeney, +1-908-582-6153, dsweeney@alcatel-lucent.com; Tom Bevilacqua,
+1-908-582-7998, bevilacqua@alcatel-lucent.com, or Tony Lucido, + 33 (0)1 40
76 49 80, alucido@alcatel-lucent.com

Web Site: http://www.alcatel-lucent.com/

Raytheon Calls for Entries for MathMovesU(R) Middle School Scholarship and Campership ProgramProgram supports the next generation of U.S. innovators with $300,000 investment in STEM initiative

WALTHAM, Mass., Nov. 4, 2009 /PRNewswire/ -- Raytheon Company is calling for entries for the MathMovesU Middle School Scholarship and Campership program, which provides $1,000 scholarships to 150 middle school students nationwide.

This school year, student awards can be used for either a "campership" applied to tuition and fees at a science, technology, engineering, or math-related (STEM) summer camp or a traditional scholarship applied to future college tuition. Raytheon will also continue to donate a $1,000 matching grant to each winning student's middle school.

To apply for the MathMovesU scholarship, current 6th, 7th and 8th grade middle school students are asked to create a multimedia or paper submission illustrating the importance of math in the hobby, sport, subject, or activity the student cares about the most, specifically addressing the question "How does MATH put the action in your passion?" Applicants must complete the downloadable application available at MathMovesU.com and mail it along with all other required materials to Scholarship Management Services by the postmark deadline date of Jan. 15, 2010.

"Our goal is to nurture and encourage young students to pursue STEM related studies and careers through activities that are hands-on, fun and educational," said Kristin Hilf, vice president of Public Affairs for Raytheon Company. "This makes camperships a natural extension of the MathMovesU program, and we are thrilled to be able to offer this option, along with traditional college scholarships, to our award recipients this year."

Raytheon's MathMovesU program is committed to increasing students' interest in math and engineering by engaging them with activities they enjoy most, such as sports, fashion and music. The MathMovesU scholarship and grant program joins Raytheon's other MathMovesU initiatives including the "In the Numbers" game, a partnership with the New England Patriots on display at The Hall at Patriot Place presented by Raytheon; the company's three-year sponsorship of the National MATHCOUNTS competition; and the recent opening of the Raytheon's Sum of all Thrills(TM) experience at INNOVENTIONS at Epcot®, which showcases math in action as students design and experience their own ride using math fundamentals.

Since the program's inception, Raytheon has awarded more than $2 million annually in MathMovesU scholarships and grants to deserving student, teachers and schools. More information can be found at http://www.raytheon.com/responsibility/stem/mmu/gs/index.html.

Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.

Note to Editors: Follow us at twitter.com/raytheoncompany. http://www.raytheon.com/ Contact: Jennifer K. Chan Tim Inthirakoth Raytheon Company InkHouse (for Raytheon) 781-879-2030 781-916-9090 x805 Jennifer_K_Chan@raytheon.com RaytheonPR@inkhouse.net

Raytheon Company

CONTACT: Jennifer K. Chan, Raytheon Company, +1-781-879-2030,
Jennifer_K_Chan@raytheon.com, or Tim Inthirakoth, InkHouse (for Raytheon),
+1-781-916-9090 x805, RaytheonPR@inkhouse.net

Web Site: http://www.raytheon.com/

Company News On-Call: http://www.prnewswire.com/comp/149999.html
http://www.prnewswire.com/comp/742575 .html

Hughes Communications Announces Third Quarter 2009 ResultsConsumer Business Sets New Growth Records Strong Growth in Services Revenues Driven by Broadband Record Third Quarter Adjusted EBITDA Solid Cash Performance

GERMANTOWN, Md., Nov. 4 /PRNewswire-FirstCall/ -- Hughes Communications, Inc. ("Hughes"), the global leader in broadband satellite network solutions and services, today announced financial results for the quarter ended September 30, 2009. Hughes' consolidated operations are classified into four reportable segments: North America Broadband; International Broadband; Telecom Systems; and Corporate and Other. The North America Broadband, International Broadband, and Telecom Systems segments represent all the operations of Hughes Network Systems, LLC ("HNS"), Hughes' principal operating subsidiary.

Third Quarter 2009 Financial Highlights: -- Consumer business sets new records with impressive growth over the third quarter of 2008: -- Record third quarter subscriber gross adds of 50,000, an increase of 14%. -- Record third quarter subscriber net adds of 17,000 for growth of 49%. -- Services revenue increased by 19%. -- Consumer ARPU increased to $71 over $68 in the third quarter of 2008 and $70 in the second quarter of 2009. -- Churn improved to 2.3% from 2.6% in the third quarter of 2008. -- Revenue of $251 million compared to $272 million in the third quarter of 2008. -- Total services revenue up 12%, with Broadband services revenue up 16%. -- North America Broadband services revenue up 14%; International Broadband services revenue up 22%, 34% on a constant dollar basis. -- Telecom Systems revenue of $29 million, down 32% primarily due to several major MobileSat development contracts reaching completion and the winding down of the Telematics contract. -- Record third quarter Adjusted EBITDA of $44 million, an increase of 13% over the third quarter of 2008. -- New orders of $208 million, with major orders from GTech, Burger King, Social Security Service, Row 44, Equiva, Yum Brands, LodgeNet, Barrett Xplore and Rite Aid in North America. Major orders from our international customers included World Bank, Ethiopian Telecom, BP Spain, Martins Brazil and NIT Nigeria. Strong non-consumer backlog of $822 million at September 30, 2009. -- Positive cash from operations of $74 million compared to $26 million in the third quarter of 2008. Nine Months Ended September 30, 2009 Financial Highlights -- Revenue of $747 million compared to $775 million in the nine month period ended September 2008, a 1% decline on a constant dollar basis. -- Services revenue up 13% over the nine month period ended September 2008, 16% on a constant dollar basis. Broadband services revenue up 13%, 17% on a constant dollar basis. -- Adjusted EBITDA of $117 million for a growth of 10% over the nine month period ended September 30, 2008. -- Total subscribers of 490,000 at September 30, 2009 reflecting a growth of 16% over the subscriber base at September 30, 2008. -- Positive cash from operations of $111 million compared to $40 million in the nine months ended September 30, 2008.

Set forth below are tables highlighting certain of Hughes' results for the three and nine months ended September 30, 2009.

Hughes Communications, Inc. --------------------------- Three Months Nine Months Ended September 30, Ended September 30, ------------------- ------------------- (Dollars in thousands) 2009 2008 2009 2008 ---- ---- ---- ---- Revenue North America Broadband $174,123 $169,400 $514,973 $487,431 International Broadband 47,521 60,056 142,925 170,121 Telecom Systems 28,825 42,263 87,431 116,677 Corporate and Other 948 60 2,130 352 --- -- ----- --- Total $251,417 $271,779 $747,459 $774,581 Operating income (loss) North America Broadband $10,629 $4,296 $(24,391)** $12,589 International Broadband 3,616 6,390 9,952 14,090 Telecom Systems 2,642 8,645 10,742 19,845 Corporate and Other (1,266) (929) (3,580) (2,753) ------ ---- ------ ------ Total $15,621 $18,402 $(7,277) $43,771 Net income (loss) attributable to HCI stockholders $(2,622) $3,184 $(55,060)** $5,667 Adjusted EBITDA* $44,306 $39,273 $117,447 $106,277 New Orders $207,830 $271,827 $751,452 $890,773 * For the definition of Adjusted EBITDA, see "Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures" below. ** Includes a $44 million one-time charge as a result of Chapter 11 filing by Sea Launch. Hughes Network Systems, LLC --------------------------- Three Months Nine Months Ended September 30, Ended September 30, ------------------- ------------------- (Dollars in thousands) 2009 2008 2009 2008 ---- ---- ---- ---- Revenue North America Broadband $174,123 $169,400 $514,973 $487,431 International Broadband 47,521 60,056 142,925 170,121 Telecom Systems 28,825 42,263 87,431 116,677 ------ ------ ------ ------- Total $250,469 $271,719 $745,329 $774,229 Operating income (loss) North America Broadband $10,629 $4,296 $(24,391)** $12,589 International Broadband 3,616 6,390 9,952 14,090 Telecom Systems 2,642 8,645 10,742 19,845 ----- ----- ------ ------ Total $16,887 $19,331 $(3,697) $46,524 Net income (loss) attributable to HNS $(1,570) $3,585 $(52,134)** $7,677 Adjusted EBITDA* $45,147 $40,250 $118,725 $108,972 New Orders $207,394 $271,768 $749,582 $890,421 * For the definition of Adjusted EBITDA, see "Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures" below. ** Includes a $44 million one-time charge as a result of Chapter 11 filing by Sea Launch. Recent Highlights: -- HNS and Barrett Xplore Inc., Canada's largest rural broadband provider, signed an agreement in August 2009 under which Barrett Xplore committed to acquire and operate over 10 Gbps of capacity on Jupiter, Hughes' next-generation, high-throughput satellite. Jupiter is designed with more than 100 Gbps of capacity, representing a tenfold increase over existing satellites, and is scheduled for launch in 2012. The agreement is valued in excess of U.S. $100 million. -- Avanti Communications Group plc and HNS signed a multi-year framework agreement in October 2009 whereby HNS' European subsidiary will supply Avanti eight (8) gateways and 50,000 customer premise terminals to operate over HYLAS, Europe's first dedicated, high-throughput Ka-band broadband satellite to be launched in 2010. The contract value is $24 million assuming full roll-out of the planned network. In addition, Hughes agreed to acquire capacity on the HYLAS satellite to expand its managed services offering to major European corporations. -- The Communications and Transport Ministry of Mexico (SCT) selected HNS to supply its market-leading HN System to support the Mexican government's connectivity program to expand broadband access to rural areas of the country. The Hughes HN System comprises a Network Operations Center and 5,760 HN7000S satellite terminals that will enable public schools, hospitals, libraries, and government offices to connect to the Web and each other via broadband Internet access. -- HNS and a major Southeast Asian cellular operator signed a contract for the supply of more than 1,000 Hughes HX terminals to support backhaul connectivity for rural GSM picocells. The network supports 3G wireless data and voice services in rural villages without access to cost-effective landline communications. In addition, HX terminals are being installed on maritime vessels to enable GSM cellular services aboard large, long-distance passenger ferry ships. -- HNS was a recipient of the Gazette Politics and Business Exceptional 53 Maryland Business Awards. The awards program acknowledges the top 53 businesses and organizations in Maryland based on criteria that include the recipient company's annual revenue and employee growth, as well as noteworthy product or service innovations, community service efforts, and how the companies portray themselves as "good places to work."

To summarize, Pradman Kaul, president and CEO said, "The consumer business continued its strong growth trajectory despite the difficult macro environment. Consistent with our stated strategy, our services revenue also continued to grow across all of our broadband businesses. I am also delighted that we were able to sign important agreements with Barrett Xplore and Avanti. Barrett, currently a major customer for SPACEWAY ® 3, will continue that relationship on Jupiter. Their commitment for space segment will enhance cash flow and returns on the Jupiter satellite. In addition, Barrett will be a major customer of NOCs and VSAT terminals for use in Canada. Our agreement with Avanti enables us to lease very competitive Ka-band space segment for our European customers, and also generate significant hardware revenues from sales of NOCs and VSAT terminals to Avanti and their Virtual Network Operators."

Commenting on Hughes' financial performance, Grant Barber, executive vice president and CFO said, "Our focus on expense control and working capital management continued in the third quarter of 2009 resulting in a strong liquidity position, with consolidated cash, cash equivalents and marketable securities increasing to $326 million at September 30, 2009."

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures

The following table reconciles the differences between Hughes' Net Income (Loss) as determined under United States of America Generally Accepted Accounting Principles (GAAP) and Adjusted EBITDA.

Hughes Communications, Inc. --------------------------- Three Months Nine Months Ended September 30, Ended September 30, ------------------- ------------------- (Dollars in thousands) 2009 2008 2009 2008 ---- ---- ---- ---- Net income (loss) attributable to HCI stockholders $(2,622) $3,184 $(55,060) $5,667 Add: Equity incentive plan compensation 1,849 1,530 5,473 3,991 Interest expense 17,735 14,095 47,125 37,305 Income tax expense 966 2,295 790 4,130 Depreciation and amortization 26,879 18,793 73,209 48,908 Long-term incentive/ retention cash plan - 710 1,538 9,940 Sea Launch impairment - - 44,400 - Other asset impairment - - 1,000 - Less: Interest income (501) (1,334) (1,028) (3,664) ---- ------ ------ ------ Adjusted EBITDA $44,306 $39,273 $117,447 $106,277 ======= ======= ======== ========

The following table reconciles the differences between HNS' Net Income (Loss) as determined under GAAP and Adjusted EBITDA.

Hughes Network Systems, LLC --------------------------- Three Months Nine Months Ended September 30, Ended September 30, ------------------- ------------------- (Dollars in thousands) 2009 2008 2009 2008 ---- ---- ---- ---- Net income (loss) attributable to HNS $(1,570) $3,585 $(52,134) $7,677 Add: Equity incentive plan compensation 1,768 1,445 5,117 3,610 Interest expense 17,727 14,095 47,106 37,305 Income tax expense 981 2,288 775 4,101 Depreciation and amortization 26,709 18,793 72,788 48,908 Long-term incentive/ retention cash plan - 710 1,538 9,940 Sea Launch impairment - - 44,400 - Less: Interest income (468) (666) (865) (2,569) ---- ---- ---- ------ Adjusted EBITDA $45,147 $40,250 $118,725 $108,972 ======= ======= ======== ========

The condensed financial statements of Hughes and HNS for the three and nine months ended September 30, 2009 are attached to this press release.

Note on Use of Non-GAAP Financial Measures

Hughes provides non-GAAP financial data in addition to providing financial results in accordance with GAAP. This press release includes Adjusted EBITDA as a supplemental non-GAAP financial measure. Adjusted EBITDA is defined as earnings (loss) before interest, income taxes, depreciation, amortization, equity incentive plan compensation, long-term incentive/retention cash plan and other adjustments permitted by the debt instruments of HNS. We believe this non-GAAP financial measure provides useful information to both management and investors by excluding specific expenses that we believe are not indicative of our core operating results. Internally, we use this non-GAAP measure in our review of the performance of management and in the performance of our business and operations. Management also uses Adjusted EBITDA of HNS for purposes of determining the payments to be made in connection with the long-term cash incentive retention program. Externally, we believe that investors may find this non-GAAP financial information useful in their assessment of our operating performance. In addition, we believe that this non-GAAP financial measure provides information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. Adjusted EBITDA of HNS is also used in calculating covenant compliance under HNS' credit agreements and the indenture governing HNS' 9½% Senior Notes due 2014 issued in 2006 and 2009.

Adjusted EBITDA is not a recognized term under GAAP. This nonGAAP measure does not represent net income or cash flows from operations, as these terms are defined under GAAP and should not be considered as an alternative to net income as an indicator of operating performance or to cash flows as a measure of liquidity. Additionally, this non-GAAP measure is not intended to be a measure of cash flow available to management for discretionary use, as such measure does not consider certain cash requirements such as capital expenditures (including expenditures on VSAT operating lease hardware and capitalized software development costs), tax payments, debt service requirements (including VSAT operating lease hardware), and payments under the long-term cash incentive retention program. Adjusted EBITDA as presented herein is not necessarily comparable to similarly titled measures reported by other companies. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP.

About Hughes Communications, Inc.

Hughes Communications, Inc. is the 100 percent owner of Hughes Network Systems, LLC. Hughes is the global leader in providing broadband satellite networks and services for enterprises, governments, small businesses, and consumers. HughesNet ® encompasses all broadband solutions and managed services from Hughes, bridging the best of satellite and terrestrial technologies. Its broadband satellite products are based on global standards approved by the TIA, ETSI, and ITU standards organizations, including IPoS/DVB-S2, RSM-A, and GMR-1. To date, Hughes has shipped more than 1.9 million systems to customers in over 100 countries.

Headquartered outside Washington, DC, in Germantown, Maryland, USA, Hughes maintains sales and support offices worldwide. For more information, please visit http://www.hughes.com/.

Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995

This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, discussions regarding industry outlook and Hughes' expectations regarding the performance of its business, its future liquidity and capital resource needs, its strategic plans, and objectives. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words "believe," "anticipate," "estimate," "expect," "intend," "project," "plans" and similar expressions and the use of future dates are intended to identify forwardlooking statements. Although management believes that the expectations reflected in these forwardlooking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made. These statements are subject to certain risks, uncertainties and assumptions, including, but not limited to, the following: risks related to Hughes' substantial leverage and restrictions contained in its debt agreements, technological developments, its reliance on providers of satellite transponder capacity, changes in demand for Hughes' services and products, competition, industry trends, regulatory changes, foreign currency exchange rate fluctuations, and other risks identified and discussed under the caption "Risk Factors" in Hughes' Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission on March 5, 2009 and in the other documents Hughes files with the Securities and Exchange Commission from time to time.

Hughes, HughesNet, and SPACEWAY are registered trademarks of Hughes Network Systems, LLC.

HUGHES COMMUNICATIONS, INC. Condensed Consolidated Balance Sheets (In thousands) (Unaudited) September 30, December 31, 2009 2008 ---- ---- ASSETS ------ Current assets: Cash and cash equivalents $289,270 $203,816 Marketable securities 37,114 - Receivables, net 166,866 200,373 Inventories 67,226 65,485 Prepaid expenses and other 25,414 20,926 ------ ------ Total current assets 585,890 490,600 Property, net 569,822 507,270 Capitalized software costs, net 51,206 51,454 Intangible assets, net 16,748 19,780 Goodwill 5,093 2,661 Other assets 84,332 118,628 ------ ------- Total assets $1,313,091 $1,190,393 ========== ========== LIABILITIES AND STOCKHOLDERS' EQUITY ------------------------------------ Current liabilities: Accounts payable $104,988 $82,939 Short-term debt 6,395 8,252 Accrued liabilities and other 167,904 159,041 ------- ------- Total current liabilities 279,287 250,232 Long-term debt 714,826 578,298 Other long-term liabilities 13,313 18,005 ------ ------ Total liabilities 1,007,426 846,535 --------- ------- Commitments and contingencies Equity: Hughes Communications, Inc. ("HCI") stockholders' equity: Preferred stock, $0.001 par value; 1,000,000 shares authorized and no shares issued and outstanding as of September 30, 2009 and December 31, 2008 - - Common stock, $0.001 par value; 64,000,000 shares authorized; 21,575,384 shares and 21,514,963 shares issued and outstanding as of September 30, 2009 and December 31, 2008, respectively 22 22 Additional paid in capital 728,927 724,558 Accumulated deficit (412,910) (357,850) Accumulated other comprehensive loss (19,034) (28,583) ------- ------- Total HCI stockholders' equity 297,005 338,147 ------- ------- Noncontrolling interest 8,660 5,711 ----- ----- Total equity 305,665 343,858 ------- ------- Total liabilities and equity $1,313,091 $1,190,393 ========== ========== HUGHES COMMUNICATIONS, INC. Condensed Consolidated Statements of Operations (In thousands, except share and per share amounts) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Revenues: Services revenues $176,253 $156,919 $512,001 $455,092 Hardware sales 75,164 114,860 235,458 319,489 ------ ------- ------- ------- Total revenues 251,417 271,779 747,459 774,581 ------- ------- ------- ------- Operating costs and expenses: Cost of services 108,768 105,988 326,497 301,899 Cost of hardware products sold 73,646 96,881 225,134 271,220 Selling, general and administrative 46,457 42,386 136,842 133,042 Loss on impairments - - 45,400 - Research and development 5,453 6,493 16,502 19,745 Amortization of intangible assets 1,472 1,629 4,361 4,904 ----- ----- ----- ----- Total operating costs and expenses 235,796 253,377 754,736 730,810 ------- ------- ------- ------- Operating income (loss) 15,621 18,402 (7,277) 43,771 Other income (expense): Interest expense (17,735) (14,095) (47,125) (37,305) Interest income 501 1,334 1,028 3,664 Other income (loss), net 50 6 (295) 95 -- - ---- -- Income (loss) before income tax expense and equity in earnings (losses) of unconsolidated affiliates (1,563) 5,647 (53,669) 10,225 Income tax expense (966) (2,295) (790) (4,130) Equity in earnings (losses) of unconsolidated affiliates - (129) 170 (301) - ---- --- ---- Net income (loss) (2,529) 3,223 (54,289) 5,794 Net income attributable to the noncontrolling interest (93) (39) (771) (127) --- --- ---- ---- Net income (loss) attributable to HCI stockholders $(2,622) $3,184 $(55,060) $5,667 ======= ====== ======== ====== Earnings (loss) per share: Basic $(0.12) $0.15 $(2.58) $0.28 Diluted $(0.12) $0.15 $(2.58) $0.28 Shares used in computation of per share data: Basic 21,379,611 21,274,506 21,368,101 19,969,850 Diluted 21,379,611 21,579,006 21,368,101 20,313,373 HUGHES COMMUNICATIONS, INC. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) Nine Months Ended September 30, ------------- 2009 2008 ---- ---- Cash flows from operating activities: Net income (loss) $(54,289) $5,794 Adjustments to reconcile net income (loss) to cash flows from operating activities: Depreciation and amortization 73,209 48,908 Amortization of debt issuance costs 1,452 1,056 Equity plan compensation expense 5,473 3,991 Equity in (earnings) losses from unconsolidated affiliates (170) 301 Loss on impairments 45,400 - Other 581 18 Change in other operating assets and liabilities, net of acquisition: Receivables, net 37,720 12,731 Inventories (745) (8,015) Prepaid expenses and other (2,026) (18,623) Accounts payable 22,534 10,476 Accrued liabilities and other (18,567) (16,704) ------- ------- Net cash provided by operating activities 110,572 39,933 ------- ------ Cash flows from investing activities: Change in restricted cash 31 3,047 Purchases of marketable securities (37,117) (2,070) Proceeds from sales of marketable securities - 8,570 Expenditures for property (93,994) (52,991) Expenditures for capitalized software (10,315) (10,526) Proceeds from sale of property 339 104 Acquisition of Helius, Inc., net of cash received - (10,543) Cash acquired, consolidation of Hughes Systique Corporation 828 - Long-term loan (10,000) - Investment in Hughes Systique Corporation - (1,500) Hughes Systique Corporation note receivables - (500) Other, net (830) - ---- - Net cash used in investing activities (151,058) (66,409) -------- ------- Cash flows from financing activities: Net increase (decrease) in notes and loans payable (1,315) 403 Proceeds from equity offering - 93,046 Proceeds from exercise of stock options - 75 Long-term debt borrowings 142,318 2,539 Repayment of long-term debt (6,834) (11,449) Debt issuance costs (4,612) - ------ - Net cash provided by financing activities 129,557 84,614 ------- ------ Effect of exchange rate changes on cash and cash equivalents (3,617) 5,059 ------ ----- Net increase in cash and cash equivalents 85,454 63,197 Cash and cash equivalents at beginning of the period 203,816 134,092 ------- ------- Cash and cash equivalents at end of the period $289,270 $197,289 ======== ======== Supplemental cash flow information: Cash paid for interest $29,200 $30,011 Cash paid for income taxes $3,700 $2,559 Supplemental non-cash disclosures related to: Investment in Hughes Telematics, Inc. $13,000 Consolidation of Hughes Systique Corporation $5,328 HUGHES NETWORK SYSTEMS, LLC Condensed Consolidated Balance Sheets (In thousands) (Unaudited) September 30, December 31, 2009 2008 ---- ---- ASSETS ------ Current assets: Cash and cash equivalents $209,161 $100,262 Marketable securities 25,078 - Receivables, net 165,608 200,259 Inventories 67,226 65,485 Prepaid expenses and other 23,545 20,425 ------ ------ Total current assets 490,618 386,431 Property, net 569,334 507,270 Capitalized software costs, net 51,206 51,454 Intangible assets, net 15,624 19,780 Goodwill 2,661 2,661 Other assets 72,329 112,511 ------ ------- Total assets $1,201,772 $1,080,107 ========== ========== LIABILITIES AND EQUITY ---------------------- Current liabilities: Accounts payable $103,141 $80,667 Short-term debt 6,395 8,252 Accrued liabilities and other 168,388 159,415 ------- ------- Total current liabilities 277,924 248,334 Long-term debt 714,826 578,298 Other long-term liabilities 13,128 18,005 ------ ------ Total liabilities 1,005,878 844,637 --------- ------- Commitments and contingencies Equity: Hughes Network Systems, LLC ("HNS") equity: Class A membership interests 177,707 177,425 Class B membership interests - - Retained earnings 28,865 80,999 Accumulated other comprehensive loss (16,188) (27,586) ------- ------- Total HNS' equity 190,384 230,838 ------- ------- Noncontrolling interest 5,510 4,632 ----- ----- Total equity 195,894 235,470 ------- ------- Total liabilities and equity $1,201,772 $1,080,107 ========== ========== HUGHES NETWORK SYSTEMS, LLC Condensed Consolidated Statements of Operations (In thousands) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Revenues: Services revenues $175,305 $156,859 $509,871 $454,740 Hardware sales 75,164 114,860 235,458 319,489 ------ ------- ------- ------- Total revenues 250,469 271,719 745,329 774,229 ------- ------- ------- ------- Operating costs and expenses: Cost of services 108,894 105,988 326,532 301,875 Cost of hardware products sold 73,646 96,881 225,134 271,220 Selling, general and administrative 44,204 41,397 132,302 129,961 Loss on impairment - - 44,400 - Research and development 5,453 6,493 16,502 19,745 Amortization of intangible assets 1,385 1,629 4,156 4,904 ----- ----- ----- ----- Total operating costs and expenses 233,582 252,388 749,026 727,705 ------- ------- ------- ------- Operating income (loss) 16,887 19,331 (3,697) 46,524 Other income (expense): Interest expense (17,727) (14,095) (47,106) (37,305) Interest income 468 666 865 2,569 Other income (loss), net (1) 6 (365) 95 -- - ---- -- Income (loss) before income tax expense (373) 5,908 (50,303) 11,883 Income tax expense (981) (2,288) (775) (4,101) ---- ------ ---- ------ Net income (loss) (1,354) 3,620 (51,078) 7,782 Net income attributable to the noncontrolling interest (216) (35) (1,056) (105) ---- --- ------ ---- Net income (loss) attributable to HNS $(1,570) $3,585 $(52,134) $7,677 ======= ====== ======== ====== HUGHES NETWORK SYSTEMS, LLC Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) Nine Months Ended September 30, ------------- 2009 2008 ---- ---- Cash flows from operating activities: Net income (loss) $(51,078) $7,782 Adjustments to reconcile net income (loss) to cash flows from operating activities: Depreciation and amortization 72,788 48,908 Amortization of debt issuance costs 1,452 1,056 Equity plan compensation expense 665 248 Loss on impairment 44,400 - Other 578 10 Change in other operating assets and liabilities, net of acquisition: Receivables, net 48,922 12,615 Inventories (745) (8,015) Prepaid expenses and other (2,531) (19,761) Accounts payable 24,261 12,140 Accrued liabilities and other (15,657) (14,582) ------- ------- Net cash provided by operating activities 123,055 40,401 ------- ------ Cash flows from investing activities: Change in restricted cash (72) 3,047 Purchases of marketable securities (25,080) - Proceeds from sales of marketable securities - 3,000 Expenditures for property (93,953) (52,991) Expenditures for capitalized software (10,315) (10,526) Proceeds from sale of property 339 104 Long-term loan (10,000) - Acquisition of Helius, Inc., net of cash received - (10,543) Other, net (755) - ---- - Net cash used in investing activities (139,836) (67,909) -------- ------- Cash flows from financing activities: Net increase (decrease) in notes and loans payable (1,315) 403 Long-term debt borrowings 142,318 2,539 Repayment of long-term debt (6,832) (11,449) Debt issuance costs (4,612) - ------ - Net cash provided by (used in) financing activities 129,559 (8,507) ------- ------ Effect of exchange rate changes on cash and cash equivalents (3,879) 5,059 ------ ----- Net increase (decrease) in cash and cash equivalents 108,899 (30,956) Cash and cash equivalents at beginning of the period 100,262 129,227 ------- ------- Cash and cash equivalents at end of the period $209,161 $98,271 ======== ======= Supplemental cash flow information: Cash paid for interest $29,182 $30,011 Cash paid for income taxes $3,660 $2,503

Hughes Communications, Inc.

CONTACT: Investor Relations, Deepak V. Dutt, Vice President, Treasurer
and Investor Relations Officer, +1-301-428-7010, deepak.dutt@hughes.com, or
Media, Judy Blake, Director, Marketing Communications, +1-301-601-7330,
judy.blake@hughes.com, both of Hughes Communications, Inc.

Web Site: http://www.hughes.com/

QNX Powers World's Most Advanced Connected Car Concept with Next-Generation Infotainment Platform

OTTAWA, Nov. 4 /PRNewswire/ -- QNX Software Systems, a Harman International company and the global leader in operating systems and middleware for the in-car infotainment market, today announced that its award-winning QNX® CAR application platform is powering the ng Connect Program's LTE Connected Car concept vehicle, which demonstrates how Long Term Evolution (LTE) 4G networks can potentially bring video-on-demand, Internet radio, and other wireless broadband services to the automobile. Along with Alcatel-Lucent and other leading network, consumer electronic, and content partners in the ng Connect Program, QNX participated in a technology showcase of the LTE Connected Car yesterday in New York City.

The QNX CAR application platform provides the software foundation of ng Connect's LTE Connected Car concept vehicle. The platform provides all of the car's system software and infotainment applications, including the realtime operating system, touchscreen user interfaces, streaming media players for YouTube and Pandora, navigation system with Google local search, Bluetooth and portable device connectivity, multimedia playback, handsfree integration, climate controls, Adobe Flash games, application store technology, and a virtual mechanic.

"QNX has a reputation for innovation in the auto industry, and from the beginning, it has shared our vision of transforming the in-vehicle user experience through LTE," said Derek Kuhn, vice president of emerging technologies and multimedia at Alcatel-Lucent. "With its deep experience and large-scale deployments in the automotive infotainment market, QNX is uniquely positioned to bring the promise of LTE to next-generation vehicles."

As an automotive market leader, QNX Software Systems has licensed its software technology for more than 12 million in-vehicle systems worldwide. Launched in February 2009, the QNX CAR application platform is already being designed into next-generation in-vehicle computing systems and has attracted more than 50 technology partners and automotive customers, including Adobe, Cisco, Daimler, Delphi, Freescale, General Motors, Google, Gracenote, IBM, Mercedes-Benz, Microsoft, Panasonic, Pandora, and Volkswagen.

Designed to accelerate the development of in-car computing systems, the QNX CAR application platform integrates technology from a broad ecosystem to create preassembled, ready-to-customize reference implementations, including digital instrument clusters and infotainment units, for manufacturers of in-car computing systems. The platform can easily support new capabilities and applications, including dynamically downloaded content.

"In developing the QNX CAR application platform, our goal was to dramatically reduce the time and effort required to bring connected and media-rich automotive infotainment systems to market," said Dan Dodge, CEO of QNX Software Systems. "The LTE Connected Car concept vehicle project demonstrates the power of QNX CAR, which allowed us to take product and applications from multiple ng Connect partners and quickly integrate them into a seamless, personalizable, next-generation user experience. Contributing to the project has been tremendously exciting, and we look forward to many more R&D initiatives through the ng Connect Program."

Recently, the QNX CAR application platform won an Adobe MAX award for its innovative use of Adobe Flash technology. The platform also earned a finalist spot in the prestigious Telematics Awards 2009.

The ng Connect Program is an ecosystem of industry leaders developing proof cases for next-generation Cloud-based applications that leverage the high-speed wireless LTE networking infrastructure. Other ng Connect members involved in the development of the LTE Connected Car concept include Atlantic Records, chumby, Toyota Motor Sales, U.S.A., Inc., and Kabillion.

Visit the QNX CAR portal

For more information on the QNX CAR application platform, including videos, product briefs, FAQs, and whitepapers, visit http://www.qnx.com/qnx_car_portal.

About the ng Connect Program

The ng Connect Program is a multi-industry organization committed to the development and rapid deployment of the next generation of broadband services based on Long Term Evolution (LTE) and other ultra high bandwidth technologies. Founded in 2009, the ng Connect Program is supported by leading network, consumer electronics, application and content providers including 4DK, Alcatel-Lucent, Atlantic Records, BUZZMEDIA, chumby, Connect2Media, Creative Technology Ltd., dimedis, FISHLABS, GameStreamer, Inc., Gemalto, HP, Intamac Systems Ltd., Kabillion, Kyocera Communications Inc., LearningMate, MediaTile, QNX, R360, RebelVox LLC., Samsung, SIGNEXX, Total Immersion, Toyota Motor Sales USA, Inc., TuneWiki, V-Gate and Words & Numbers. For more information on the ng Connect Program, please visit: http://www.ngconnect.org/.

About QNX Software Systems

QNX Software Systems, a unit of Harman International , is the industry leader in realtime, embedded OS technology. The component-based architectures of the QNX® Neutrino® RTOS, QNX Momentics® Tool Suite, and QNX Aviage® middleware together provide the industry's most reliable and scalable framework for building innovative, high-performance embedded systems. Global leaders such as Cisco, Daimler, General Electric, Lockheed Martin, and Siemens depend on QNX technology for network routers, medical instruments, vehicle telematics units, security and defense systems, industrial robotics, and other mission- or life-critical applications. Founded in 1980, QNX Software Systems is headquartered in Ottawa, Canada, and distributes products in over 100 countries worldwide. Visit http://www.qnx.com/.

Reader Information Editorial Contacts Web: http://www.qnx.com/ Jennifer Barlow or Bill Keeler Paul Leroux Email: info@qnx.com Schwartz Communications QNX Software Systems +1 781 684-0770 +1 613 591-0931 qnx@schwartz-pr.com paull@qnx.com

QNX, Aviage, Momentics, and Neutrino are trademarks of QNX Software Systems GmbH & Co. KG, registered in certain jurisdictions, and are used under license. All other trademarks and trade names belong to their respective owners.

QNX Software Systems

CONTACT: Jennifer Barlow or Bill Keeler, both of Schwartz
Communications, +1-781-684-0770, qnx@schwartz-pr.com; or Paul Leroux of QNX
Software Systems, +1-613-591-0931, paull@qnx.com

Web Site: http://www.qnx.com/

Health Fitness to Report Third Quarter 2009 Financial Results

MINNEAPOLIS, Oct. 27 /PRNewswire-FirstCall/ -- Health Fitness Corporation (NYSE Amex: FIT), a leading provider of integrated employee health and productivity management solutions, will conduct a conference call to discuss its financial results for the third quarter ended September 30, 2009. The call is scheduled for 4:30 p.m. ET on Wednesday, November 4, 2009.

Participants can dial (800) 860-2442 or (412) 858-4600 to access the conference call, or can listen via a live Internet web cast, which can be found at http://www.hfit.com/. A replay of the call is available by visiting http://www.hfit.com/ for the next 30 days or by calling (877) 344-7529 or (412) 317-0088, conference number 435003, through November 10, 2009.

About Health Fitness

Health Fitness is a leading provider of integrated employee health improvement services to Fortune 500 companies, the health care industry and individual consumers. With 30-plus years of experience, Health Fitness partners with employers to effectively manage health care and productivity costs by improving individual health and well-being. Health Fitness provides a portfolio of health and fitness management solutions, including best-in-class integration, INSIGHT® Health Risk Assessments, screenings, EMPOWERED(TM) Health Coaching, and fitness facility design and management. For more information on Health Fitness, visit http://www.hfit.com/.

COMPANY CONTACT: INVESTOR CONTACT: Wes Winnekins, CFO Joe Diaz, Joe Dorame, Robert Blum Health Fitness Corporation Lytham Partners, LLC (952) 897-5275 (602) 889-9700

Health Fitness Corporation

CONTACT: Wes Winnekins, CFO of Health Fitness Corporation,
+1-952-897-5275; or Investors, Joe Diaz, Joe Dorame, or Robert Blum, all of
Lytham Partners, LLC, +1-602-889-9700, for Health Fitness Corporation

Web Site: http://www.hfit.com/

CSC Wins $200 Million Task Order to Provide Infrastructure Support Services to U.S. Agency for International Development

FALLS CHURCH, Va., Nov. 4 /PRNewswire-FirstCall/ -- CSC announced today that the U.S. Agency for International Development (USAID) awarded the company a task order to provide information technology (IT) infrastructure engineering support services. The task order, awarded to CSC during the company's fiscal 2010 second quarter that ended Oct. 2, 2009, has a one-year base period and four one-year options with an estimated five-year contract value of $200 million. This work falls under the U.S. General Services Administration's Millennia contract.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090422/CSCLOGO)

Under the terms of the task order, CSC will provide a full range of infrastructure services including planning, engineering and implementing IT solutions and providing support for the USAID network environment. CSC engineering activities will include network and voice engineering, system engineering, IT security engineering, desktop engineering and support for the telecommunications computer operation center. Additionally, CSC will provide support for IT infrastructure-related projects including strategic enterprise infrastructure planning design, technology modernization, mission moves and future projects. The USAID worldwide network supports 8,000 users in 90 locations around the world.

"We're proud to continue our long partnership and collaboration with USAID by leveraging our significant foreign affairs and infrastructure engineering expertise," said Aaron Fuller, president of CSC's North American Public Sector Enforcement, Security and Intelligence Group. "Our innovation and engineering excellence will help the USAID address the increasingly complex technical challenges of its global mission."

About USAID

USAID is an independent Federal Government agency that receives overall foreign policy guidance from the Secretary of State. USAID is the principal U.S. agency to extend assistance to countries recovering from disaster, trying to escape poverty and engaging in democratic reforms. For more information about USAID please visit their website at http://www.usaid.gov/.

About CSC

CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions and Services, the Managed Services Sector and the North American Public Sector. CSC's advanced capabilities include systems design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. Headquartered in Falls Church, Va., CSC has approximately 92,000 employees and reported revenue of $16.2 billion for the 12 months ended July 3, 2009. For more information, visit the company's Web site at http://www.csc.com/.

Photo: http://www.newscom.com/cgi-bin/prnh/20090422/CSCLOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com CSC

CONTACT: Michelle Herd, Senior Manager, Communications, North American
Public Sector, +1-703-205-6186, mherd@csc.com, or Chris Grandis, Media
Relations Director, Corporate, +1-703-641-2316, cgrandis@csc.com, or Bryan
Brady, Vice President, Investor Relations, Corporate, +1-703-641-3000,
investorrelations@csc.com

Web Site: http://www.csc.com/
http://www.usaid.gov/

Finish Line to Donate 92,500 Pairs of Shoes and $100,000 to Soles4Souls

INDIANAPOLIS, Nov. 4 /PRNewswire-FirstCall/ -- The Finish Line, Inc., one of the nation's leading athletic footwear and apparel retailers, today announced that through its "Sole Destination" program, approximately 92,500 pairs of gently used shoes will be donated to Soles4Souls, a charitable organization that distributes shoes free of charge to people in need throughout the world. In addition to collecting the shoes at its 679 retail stores and its corporate and distribution facilities, Finish Line has matched the donation of each pair with a $1 corporate contribution to Soles4Souls, totaling $92,500, to assist the charity with shipping and distribution costs.

"We are pleased with the results of the 'Sole Destination' program and sincerely gratified by how generous our customers and employees have been in donating shoes to this effort," said Finish Line Senior Vice President of Marketing Kevin Flynn. "Still, we set a goal to donate $100,000 and we fell a bit short. More awareness is needed to push us to our goal so that we can help the 300 million people worldwide that Soles4Souls estimates are without shoes today."

To drive additional awareness and reach the $100,000 donation goaI, Finish Line is launching a campaign on Twitter. Throughout the "Sole Destination" initiative, which began in June, Finish Line has engaged Twitter to keep followers up-to-date on the number of pairs collected as part of the "Sole Destination" program. Beginning today, Nov. 4, through Nov. 15, Finish Line will donate $1 to Soles4Souls for each new Twitter follower up to 7,500 new followers. Visit the Finish Line Twitter page at http://www.twitter.com/theFinishLine. The additional $7,500 donation will allow Finish Line to meet its donation goal of $100,000 to Soles4Souls.

About Finish Line

The Finish Line, Inc. is a premium athletic footwear store and one of the nation's largest mall-based specialty retailers, offering a deep selection of performance and sport-style footwear, apparel and accessories for men, women and kids. The Finish Line, Inc. is publicly traded on the NASDAQ Global Select Market under the symbol FINL. The company operates 679 Finish Line stores in 47 states and online at http://www.finishline.com/.

About Soles4Souls(TM), Inc.

Soles4Souls is a Nashville-based charity that collects shoes from the warehouses of footwear companies and the closets of people like you. The charity distributes these shoes free of charge to people in need, regardless of race, religion, class, or any other criteria. Since 2005, Soles4Souls has given away over 5.5 million pairs of new and gently worn shoes (currently donating one pair every 9 seconds.) The shoes have been distributed to people in over 125 countries, including Kenya, Thailand, Nepal and the United States. Soles4Souls has been featured in Runner's World, Ladies' Home Journal, National Geographic's Green Guide and The New York Times. It has appeared on CBS, ABC, NBC, FOX, BBC, CNN and thousands of regional news outlets across North America. Soles4Souls is a 501(c )(3) recognized by the IRS and donating parties are eligible for tax advantages. Anyone can join our cause, and we need your help. Visit http://www.giveshoes.org/ for more information.

Contact: Anne Roman On behalf of Finish Line 419-724-9900

The Finish Line, Inc.

CONTACT: Anne Roman, On behalf of Finish Line, +1-419-724-9900

Web Site: http://www.finishline.com/

READY OR NOT? Survey Suggests Professionals Overestimate How Prepared They Are for a Job Search

MENLO PARK, Calif., Nov. 4 /PRNewswire/ -- Employees say they expect the unexpected when it comes to their careers, yet a new survey suggests there may not be a lot of action to back up that claim. Although 82 percent of workers polled said they would be ready to conduct a job search if they lost their jobs tomorrow, only 20 percent had updated their resumes in the last three months. Forty-four percent hadn't revised their resumes in more than a year.

The survey was developed by Robert Half International, the world's first and largest staffing services firm specializing in accounting and finance. It was conducted by an independent research firm and is based on telephone interviews with 493 workers 18 years of age or older and employed in an office environment.

Workers were asked, "How prepared are you to conduct a job search if you were to lose your job tomorrow?" Their responses:

Very prepared 39% Somewhat prepared 43% Somewhat unprepared 9% Not at all prepared 9% ---- 100%

Workers also were asked, "When did you last update your resume?" Their responses:

Within the last month 12% Within the last three months 8% Within the last six months 16% Within the last year 16% It hasn't been updated in over a year 44% Don't have a resume 2% Don't know/no answer 2% ---- 100%

"Workers who are prepared in the event of a sudden job loss also are ready when new employment opportunities arise, including those within their own companies," said Reesa Staten, senior vice president and director of workplace research for Robert Half International. "A current resume is an essential career tool -- the longer it remains untouched, the harder it is to update, since specific achievements are not always easy to recall. Creating a 'personal personnel file' where you place kudos can help you keep track of your successes."

Staten added, "A compelling resume is just the first building block of a successful job search. It's also imperative to have an active network and up-to-date skills. Many people may focus on one particular area during a job search when many factors can play a part in career advancement."

To help professionals evaluate how prepared they are to launch a job search, Upwardly Mobile, Inc. (http://www.upmo.com/) recently collaborated with Robert Half International to develop a new tool, the Job-Hunt Readiness Evaluator. The tool is a free, 10-minute assessment that allows individuals to determine how prepared they are to search for and secure work. Those who take the assessment are provided with a personalized report to help them understand how they can enhance their preparedness. The Job-Hunt Readiness Evaluator can be found at http://www.rhi.com/jobhuntreadiness.

Robert Half International has more than 360 staffing locations worldwide and offers online job search services at http://www.rhi.com/.

Robert Half International

CONTACT: Michael Weiss of Robert Half International, +1-650-234-6383,
michael.weiss@rhi.com

Web Site: http://www.rhi.com/

OAG Launches Cargo Portal ThailandPortal Expands Partnership Between OAG Cargo and Trade & Logistics Siam Ltd.

BANGKOK and MIAMI, Nov. 4 /PRNewswire-FirstCall/ -- OAG Cargo announced today the launch of the OAG Cargo airfreight portal for forwarders and airlines in Thailand through an expansion of its partnership with Trade & Logistics Siam Ltd. The launch of the new portal within the Thai market brings the full range of OAG Cargo's global services to the local Thai air cargo community and represents an increase in activities in the Asia Pacific region for OAG Cargo. To access the portal, log on to http://www.oagcargo.com/.

With local support from the expanded partnership, the portal enables freight forwarders to run their businesses more efficiently through provision of a full complement of powerful tools and services. In addition, airlines are able to use the portal to reach their freight forwarder customers with immediate operational news and data. Giving OAG customers a competitive edge, the portal is a straightforward and unique solution for airfreight companies. It enhances the way rates and schedules information is managed, improving efficiency within any organization. Among other capabilities, portal users will be able to upload or generate electronic rate sheets, create and distribute quotations to global shippers, access real-time airfreight rate information on a secure network and publish time-sensitive operational announcements. The portal is fully customizable and can be localized to fit the needs of each operation.

Bart Jan Haasbeek, Global Sales Director of OAG Cargo Solutions, said that, "The introduction of the OAG Cargo portal in Thailand provides our global customers and the local air freight community with one place to access important information, whenever and wherever they need it. We are delivering this through the portal in conjunction with Trade & Logistics Siam as our General Sales Agent in Thailand, enabling us to build stronger and closer ties with carriers and forwarders in one of the region's major markets"

Dwight Chiavetta, President of Trade & Logistics Siam Ltd. said, "The expansion of our partnership with OAG Cargo to create the airfreight communication portal truly addresses the needs of airfreight forwarders and airlines in the Asia Pacific region. We are proud to be OAG Cargo's local partner with the launch of this product."

OAG Cargo is planning an open free seminar to coincide with the launch of the portal on Tuesday, November 17, 2009, at Plaza Athene in Bangkok. The all-day seminar starts at 9 a.m. with an introduction by Bart Jan Haasbeek and will consist of a live demonstration of OAG Cargo's new online airfreight portal. To RSVP, please call Dwight Chiavetta at +66 (0) 2 650 8690.

OAG Cargo is exhibiting at Air Cargo Americas 2009, booth number 915; Doubletree Miami Mart Hotel & Convention Center West Hall.

About OAG Cargo (http://www.oagcargo.com/)

OAG Cargo provides an expansive portfolio of innovative products and services to the global air cargo community. Its air freight community portal OAGcargo.com includes tools for routing and shipment planning, dangerous goods regulations, a real-time air freight rates database, air and road schedule data, tracking and analysis solutions and multimedia cargo schedule products. Its renowned Inforwarding service has more than 26,000 registered freight forwarding and airline users in 26 markets worldwide. It is part of UBM Aviation (http://www.ubmaviation.com/), a global data and information business serving the passenger aviation, air cargo logistics, maintenance repair & overhaul (MRO) and business travel communities with information products, market intelligence, news and events.

About Trade & Logistics Siam

Since its founding in 1997 as primarily a publishing concern, Trade and Logistics Siam has evolved into a leading content provider for the shipping and logistics industries, creating a complete range of corporate identity solutions and print and digital marketing collateral for its clients. Having originally served primarily the local market, numerous international clients have turned to the company for their corporate and marketing materials, having realized that they can receive top-quality international-class brochures, corporate DVDs and publicity materials at a fraction of the cost, and with a far more insight into their industry, than they had from traditional agencies.

UBM Aviation

CONTACT: Bart Jan Haasbeek, Global Sales Director, OAG Cargo, +31 252
527 220, bhaasbeek@oag.com; or Dwight Chiavetta, President, Trade & Logistics
Siam, +66 (0) 2 650 8690, dwight@logistics-manager.com; or Pamela Johnston,
President, PJ Inc. Public Relations, +1-212-629-8445, Pamela@pjinc.net

Web Site: http://www.ubmaviation.com/

IBM Advances Cloud Computing in Education; Unveils IBM Cloud AcademyProvides a global forum for Higher Ed and K-12 innovation, collaboration and research

DENVER, Nov. 4 /PRNewswire-FirstCall/ -- IBM today launched the IBM Cloud Academy, a global forum for educators, researchers and information technology (IT) personnel from the education industry to pursue cloud computing initiatives, develop skills and share best practices for reducing operating costs while improving quality and access to education.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO )

IBM announced at the EDUCAUSE Annual Conference that 17 educational institutions worldwide are the first to participate in the Cloud Academy. United States-based institutions include George Mason University; Georgia State University; Gwinnett County Public Schools; Marist College; New York University; North Carolina State University; Pike County Schools; The Executive Leadership Foundation's Technology Transfer Project - a collaborative effort for Historically Black Colleges and Universities; and the University of Maryland, Baltimore County. International institutions include Beijing University of Technology in China; Carnegie Mellon University in Qatar (CMU-Q), Qatar University (QU) and Texas A&M University at Qatar (TAMUQ) in Qatar; Ecole normale superieure de Lyon in France; Ozyegin University in Turkey; Nanyang Technical University in Singapore; and Victoria University in Australia.

"Cloud computing makes it easier for those in the education industry, including students, faculty and administrators, to gain immediate access to a wide range of new educational resources and research applications and tools," said Michael King, vice president, IBM Global Education Industry. "The IBM Cloud Academy will advance awareness and adoption of cloud computing, including best practices for education and research institutions."

IBM Cloud Academy Advocates Collaboration and Innovation

The IBM Cloud Academy will enable these institutions and other participants to collaborate using an IBM-managed cloud, available via the Internet, lowering barriers to entry for the development and contribution of subject matter expertise. Through the Academy, members can create working groups on areas of interest to the education industry, "jam" on new innovations for clouds in education-related areas with IBM developers, work jointly on technical projects across institutions, share research findings, and exchange new ideas for research. Participants are also encouraged to innovate to further advance cloud computing by preparing education-focused open source software for clouds, integrating cloud provisioning and de-provisioning services, validating content for compliance with accessibility standard, and leveraging IBM cloud offerings for teaching, learning, research and administration.

A vital aspect of the IBM Cloud Academy will be the development of new technologies and research methods. The IBM Cloud Academy gives participants the ability to work with elite researchers in IBM labs throughout the world, many of whom are working on cloud initiatives in education, to extend the boundaries of cloud computing in education.

IBM will also collaborate with participants of the IBM Cloud Academy on integrating cloud technologies into their campus and district infrastructures, including IBM's virtualized server and storage hardware, Tivoli Provisioning and Automation software for management of cloud environments, campus and student computer lab management with the Virtual Computing Laboratory project, and cloud integration services from IBM's global services organizations.

IBM's Cloud Academy leverages IBM's Academy of Technology, whose membership consists of IBM top technical leaders from around the world who are working in research, hardware and software development, manufacturing, and services.

Participants will have access to IBM's public cloud services, including LotusLive for administration collaboration, IBM Desktop Cloud Services, delivery services for Virtual Computing Labs, and Corporate Citizenship Education Projects, such as PowerUp, Forbidden City and TryScience.

One of the tools hosted by LotusLive is the online version of Innov8 2.0, IBM's flagship 'serious game,' which is integrated with BPM BlueWorks. Shown at EDUCAUSE, Innov8 2.0 is being used by more than 100 universities worldwide and features real-world business scenarios where the goals are to maximize profitability and customer satisfaction while minimizing carbon emissions. Challenges in the game include managing a supply chain, reducing congestion in a city, and optimizing call center queues.

IBM's Cloud Computing and Education Initiatives

The IBM Cloud Academy represents a continuation of the cloud computing projects that IBM has initiated over the past two years. These programs provide a forum for collaboration, research and innovation, as well as a showcase for the work and projects IBM has completed with the education industry. Some highlights include:

-- In October of 2007, IBM and Google teamed up to help university students gain the skills needed to program cloud applications. -- The two companies have since joined forces with the National Science Foundation (NSF) to enable more students to participate in the IBM/Google Cloud Computing University Initiative through grants provided from NSF through its Cluster Exploratory (CLuE) program. -- IBM continues to work with universities and educational institutions worldwide, giving students access to cloud computing technologies to help them complete research projects that aid in the development of remote regions and socio-economic conditions all over the globe.

The charter members of the IBM Cloud Academy will work with IBM to define the final structure of the academy, which will open for general membership early in 2010.

For more information on IBM's cloud computing university initiatives, please visit http://www.ibm.com/university/cloud.

For more information on IBM cloud computing, please visit http://www.ibm.com/cloud.

Media Contact(s): Theo Chisholm Hanna Smigala IBM Media Relations IBM Media Relations (914) 765-6144 (914) 766-4439 theoc@us.ibm.com smigala@us.ibm.com

Photo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO IBM

CONTACT: Theo Chisholm, +1-914-765-6144, theoc@us.ibm.com; or Hanna
Smigala, +1-914-766-4439, smigala@us.ibm.com, both of IBM Media Relations

Web Site: http://www.ibm.com/

Vonage Holdings Corp. Reports Third Quarter 2009 Results- Adjusted EBITDA(1) Increases to $33 Million - - Net Income Excluding Adjustments(2) Increases to $5 Million or $0.03 per Share - - Vonage World Subscribers Exceed 400,000 - - Company Reports Revenue of $222 Million -

HOLMDEL, N.J., Nov. 4 /PRNewswire-FirstCall/ -- Vonage Holdings Corp. , a leading provider of high-quality voice and messaging services over broadband networks, today announced results for the third quarter ended September 30, 2009.

Vonage reported record adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA")(1) of $33 million, up from $15 million in the year ago quarter and $31 million sequentially. This is the eighth consecutive quarter of record high adjusted EBITDA.

Revenue of $222 million was down 2% year-over-year, and up 1% sequentially. The Company generated net income, excluding adjustments(2), of $5 million or $0.03 per share. This is an improvement from a net loss of $8 million in the third quarter of 2008 and net income, excluding adjustments of $1 million, sequentially.

As a result of the sharp increase in the price of Vonage's stock during the quarter, the conversion feature of the Company's third lien convertible notes increased in value. GAAP accounting requires the Company to take a mark-to-market charge as a result of this increase. Net loss was $55 million or $0.33 per share, driven primarily by the $63 million non-cash charge associated with the conversion feature. This compares to a net loss of $8 million in the third quarter of 2008 and net income of $2 million sequentially.

Marc Lefar, Vonage Chief Executive Officer, said, "We generated strong financial results during the quarter as Vonage again produced record level adjusted EBITDA on higher sequential revenue."

"Despite economic challenges and the impact of wireless substitution, our subscriber base grew during the latter part of the quarter as the new Vonage World service gained traction. We also continued to make progress against initiatives launched last year to enhance the value of our core product, reduce costs and improve the customer experience."

"The market response to Vonage World, which provides unlimited calling to more than 60 countries, was very strong. Average weekly gross line additions in the final six weeks of the quarter were more than double the previous seven weeks of the quarter."

"In October, we released Vonage Mobile, our first mobile calling application for smartphones. This application is focused on the international calling market and provides significant improvements in convenience and savings versus calling cards and wireless carriers. Vonage Mobile works over cellular and Wi-Fi networks. Over the next few months, we expect to launch Vonage World for Mobile, a flat-rate plan that mirrors the Vonage World residential plan. Discounts for customers of both services are planned. Vonage Mobile is available as a free download on the iPhone(R), BlackBerry(R), and iPod touch(R)."

Vonage World

In August 2009, the Company launched Vonage World. There are more than 400,000 subscribers on the World plan today, including new Vonage subscribers and existing customers who have migrated from other plans.

Key indicators which correlate to lower churn are showing positive trends: -- Return rates for new Vonage World customers in the first 30 days are nearly half that of pre-World customers. -- Customers subscribing as a result of a referral from a friend have more than quadrupled. -- New customers subscribing through the online channel increased 50%. -- New customers with excellent or very good credit increased 33% versus pre-World customers.

While it is too early to predict long-term churn profiles, the first Vonage World customer groups are churning at a rate less than half that of similarly tenured customers added in the months prior to the World launch.

Third Quarter 2009 Financial and Operating Highlights

Revenue for the third quarter was $222 million, down from $226 million in the year ago quarter and up from $220 million sequentially. Average revenue per user ("ARPU") increased to $29.89 from $28.75 in the year ago quarter and $28.88 sequentially. Telephony services ARPU increased to $29.16 from $27.52 reported a year ago and $28.18 sequentially, reflecting the full benefit of changes to the Company's promotional and pricing strategies.

Direct cost of telephony services was $52 million, down from $57 million in the prior year and up slightly from $51 million sequentially. On a per line basis, the cost of telephony services declined to $7.02 from $7.20 in the prior year and increased from $6.76 sequentially. The increase in the cost of telephony services was primarily due to higher international volume driven by Vonage World. The Company expects to continue to leverage the increase in international calling volume to achieve rate reductions with carrier partners.

Direct cost of goods sold was $18 million, down from $21 million in the year ago quarter and up slightly from $16 million sequentially on higher gross line additions. Direct margins(3) were 69%, up from 66% the prior year and flat sequentially.

SG&A expense declined to $63 million from $73 million in the year ago quarter and $71 million sequentially as the Company effectively managed general and administrative expenses. The sequential SG&A improvement was also driven by a favorable comparison to the prior quarter, which included $5 million in non-recurring litigation and severance expense.

Pre-marketing operating income ("PMOI")(1) reached a record high $103 million, up from $91 million in the year ago quarter and $94 million sequentially. PMOI per line increased to $13.89 from $11.55 in the year ago quarter and $12.36 sequentially.

As projected, marketing expense was $57 million, down from $65 million in the third quarter of 2008 and up from $52 million sequentially. Subscriber line acquisition cost ("SLAC") was $301 compared to $272 in the prior year and down from $363 sequentially. SLAC declined significantly to $235 in the last six weeks of the quarter following the launch of Vonage World. The Company expects fourth quarter 2009 marketing expense to be consistent with the third quarter.

Although Vonage World drove positive net growth and a higher quality customer, the launch occurred too late in the quarter to fully offset line losses in July and August, resulting in a 50,000 net subscriber line loss for the full quarter.

Churn increased sequentially from 3.2% to 3.4%, driven in part by customer non-payment, an indicator of the macroeconomic environment. Trends later in the quarter and month of October have shown significant improvement; October churn was 3.0%.

As of September 30, 2009, cash and cash equivalents were $38 million and restricted cash remained unchanged at $40 million. During the quarter, the Company took advantage of opportunities to effectively utilize its cash by prepaying vendors $17 million in exchange for significant discounts. This resulted in an operating use of cash of $9 million. Under the Company's debt financing terms, unrestricted cash in excess of $30 million would have become restricted effective October 1, 2009. The Company expects to generate positive cash from operations in the fourth quarter and full year 2009.

Capital and software expenditures totaled $9 million. Capital and software for the full year 2009 are expected to be approximately $40 million, consistent with the prior year. Capital expenditures in the fourth quarter are expected to increase sequentially due to the timing of investments in new billing and other systems capabilities.

Shares outstanding increased sequentially by 40 million to 197 million as of September 30, 2009, primarily as a result of debt conversions.

NYSE Compliance Update

On September 28, 2009, the Company announced that it received notification from the New York Stock Exchange (the "NYSE") that the Company has regained compliance with the NYSE's continued listing standard for minimum average share price.

In addition to regaining compliance with the price listing standard, the Company continues to follow all NYSE requirements to regain market capitalization compliance including providing quarterly operational updates to the NYSE. The NYSE requires average market capitalization of not less than $100 million over a 30-day trading period. The Company's market capitalization was $274 million on September 30, 2009. The Company could regain compliance either at the end of the 18-month plan period available or based on two consecutive quarterly monitoring periods in compliance.

(1) This is a non-GAAP financial measure. Refer below to Table 3 for a reconciliation to GAAP income (loss) from operations.

(2) This is a non-GAAP financial measure. Refer below to Table 4 for a reconciliation to GAAP net income (loss).

(3) Direct margin is defined as operating revenues less direct cost of telephony services and direct cost of goods sold as a percentage of revenues.

(4) A reduction of 16,802 lines was made to the 2009 opening line balance as part of a data base review. This adjustment impacted the nine months ended September 30, 2009 per line metrics.

About Vonage

Vonage is a leading provider of high-quality voice and messaging services over broadband networks. Our award winning technology serves approximately 2.45 million subscribers. We provide feature-rich, affordable communication solutions that offer flexibility, portability and ease-of-use.

Our Vonage World plan offers free unlimited calling to landline phones in all cities and locations in more than 60 countries with popular features like call waiting, call forwarding and voicemail -- for one low, flat monthly rate.

Vonage's service is sold on the web and through regional and national retailers including Wal-Mart Stores Inc. and is available to customers in the U.S., Canada and the United Kingdom. For more information about Vonage's products and services, please visit http://www.vonage.com/.

Vonage Holdings Corp. is headquartered in Holmdel, New Jersey. Vonage® is a registered trademark of Vonage Marketing Inc., a subsidiary of Vonage Holdings Corp.

VONAGE HOLDINGS CORP. TABLE 1. SUMMARY CONSOLIDATED FINANCIAL DATA (Dollars in thousands, except per share amounts) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Statement of Operations Data: Operating Revenues: Telephony services $216,085 $216,092 $646,437 $651,810 Customer equipment and shipping 5,420 9,678 19,101 26,101 ----- ----- ------ ------ 221,505 225,770 665,538 677,911 ------- ------- ------- ------- Operating Expenses: Direct cost of telephony services (excluding depreciation and amortization of $4,371, $4,908, $14,000, and $14,337, respectively) 52,044 56,502 155,275 169,586 Direct cost of goods sold 17,727 20,835 54,418 61,440 Selling, general and administrative 63,187 73,035 202,565 230,358 Marketing 57,393 64,911 175,232 191,110 Depreciation and amortization 12,881 13,347 39,625 34,670 ------ ------ ------ ------ 203,232 228,630 627,115 687,164 ------- ------- ------- ------- Income (loss) from operations 18,273 (2,860) 38,423 (9,253) Other income (expense): Interest income 58 544 228 2,965 Interest expense (13,690) (5,504) (40,911) (16,610) Gain (loss) on extinguishment of notes 3,816 - 3,816 - Change in fair value of derivatives (62,998) - (48,878) - Other, net 15 46 821 (66) -- -- --- --- (72,799) (4,914) (84,924) (13,711) ------- ------ ------- ------- Income (loss) before income tax expense (54,526) (7,774) (46,501) (22,964) Income tax expense (29) (43) (498) (696) --- --- ---- ---- Net income (loss) $(54,555) $(7,817) $(46,999) $(23,660) ======== ======= ======== ======== Net income (loss) per common share: Basic $(0.33) $(0.05) $(0.29) $(0.15) ====== ====== ====== ====== Diluted $(0.33) $(0.05) $(0.29) $(0.15) ====== ====== ====== ====== Weighted-average common shares outstanding: Basic 167,666 156,299 160,477 156,146 ======= ======= ======= ======= Diluted 167,666 156,299 160,477 156,146 ======= ======= ======= ======= VONAGE HOLDINGS CORP. TABLE 1. SUMMARY CONSOLIDATED FINANCIAL DATA - (Continued) (Dollars in thousands, except per share amounts) Three Months Ended Nine Months Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- (unaudited) (unaudited) Statement of Cash Flow Data: Net cash provided by (used in) operating activities $(8,963) $(17,923) $16,660 $6,171 Net cash provided by (used in) investing activities (9,192) 13,434 (23,673) 44,213 Net cash provided by (used in) financing activities (587) (8,846) (2,588) (9,234) Capital expenditures, intangible asset purchases and development of software assets (9,191) (10,209) (23,235) (32,566) September 30, December 31, 2009 2008 ---- ---- (unaudited) Balance Sheet Data (at period end): Cash and cash equivalents $37,819 $46,134 Restricted cash 40,173 39,585 Property and equipment, net of accumulated depreciation 86,226 98,292 Total assets 317,751 336,905 Total debt, net of discount 196,701 194,050 Derivative embedded within convertible note, at fair value 27,560 - Capital lease obligations 21,288 22,199 Total liabilities 419,681 427,647 Total stockholders' equity (deficit) (101,930) (90,742) VONAGE HOLDINGS CORP. TABLE 2. SUMMARY CONSOLIDATED OPERATING DATA (unaudited) Three Months Ended ------------------------------------ Nine Months Ended September 30, June 30, September 30, September 30, ------------- -------- ------------- ------------- 2009 2009 2008 2009 2008 ---- ---- ---- ---- ---- Gross subscriber line additions 190,834 143,645 238,430 561,089 750,591 Net subscriber line additions (50,191) (88,643) 9,460 (145,327) 41,673 Subscriber lines (at period end) 2,445,027 2,495,218 2,621,900 2,445,027 (4) 2,621,900 Average monthly customer churn 3.4% 3.2% 3.0% 3.2% 3.1% Average monthly revenue per line $29.89 $28.88 $28.75 $29.37 (4) $28.96 Average monthly telephony services revenue per line $29.16 $28.18 $27.52 $28.53 (4) $27.84 Average monthly direct cost of telephony services per line $7.02 $6.76 $7.20 $6.85 (4) $7.24 Marketing costs per gross subscriber line addition $301 $363 $272 $312 $255 Employees (excluding temporary help) (at period end) 1,239 1,260 1,573 1,239 1,573 Direct margin as a % of total revenue 68.5% 69.2% 65.7% 68.5% 65.9% VONAGE HOLDINGS CORP. TABLE 3. RECONCILIATION OF GAAP INCOME (LOSS) FROM OPERATIONS TO ADJUSTED EBITDA AND PRE-MARKETING OPERATING INCOME (Dollars in thousands) (unaudited) Three Months Ended ------------------------------------- Nine Months Ended September 30, June 30, September 30, September 30, ------------- -------- ------------- ------------- 2009 2009 2008 2009 2008 ---- ---- ---- ---- ---- Income (loss) from operations $18,273 $15,050 $(2,860) $38,423 $(9,253) Depreciation and amortization 12,881 13,848 13,347 39,625 34,670 Share-based expense 2,058 2,227 4,167 6,893 9,203 ----- ----- ----- ----- ----- Adjusted EBITDA 33,212 31,125 14,654 84,941 34,620 Marketing 57,393 52,144 64,911 175,232 191,110 Customer equipment and shipping (5,420) (5,319) (9,678) (19,101) (26,101) Direct cost of goods sold 17,727 16,179 20,835 54,418 61,440 ------ ------ ------ ------ ------ Pre-marketing operating income $102,912 $94,129 $90,722 $295,490 $261,069 ======== ======= ======= ======== ======== As a % of telephony services revenue 47.6% 43.8% 42.0% 45.7% 40.1% VONAGE HOLDINGS CORP. TABLE 4. RECONCILIATION OF GAAP NET INCOME (LOSS) TO NET INCOME (LOSS) EXCLUDING ADJUSTMENTS (Dollars in thousands, except per share amounts) (unaudited) Three Months Ended -------------------------------------- Nine Months Ended September 30, June 30, September 30, September 30, ------------- -------- ------------- ------------- 2009 2009 2008 2009 2008 ---- ---- ---- ---- ---- Net income (loss) $(54,555) $2,285 $(7,817) $(46,999) $(23,660) Gain (loss) on extinguishment of notes (3,816) - - (3,816) - Change in fair value of derivatives 62,998 (1,150) - 48,878 - ------ ------ --- ------ --- Net income (loss) excluding adjustments $4,627 $1,135 $(7,817) $(1,937) $(23,660) ====== ====== ======= ======= ======== Net income (loss) per common share: Basic $(0.33) $0.01 $(0.05) $(0.29) $(0.15) ====== ===== ====== ====== ====== Diluted $(0.33) $0.01 $(0.05) $(0.29) $(0.15) ====== ===== ====== ====== ====== Weighted-average common shares outstanding: Basic 167,666 156,928 156,299 160,477 156,146 ======= ======= ======= ======= ======= Diluted 167,666 218,997 156,299 160,477 156,146 ======= ======= ======= ======= ======= Net income (loss) per common share, excluding adjustments: Basic $0.03 $0.01 $(0.05) $(0.01) $(0.15) ===== ===== ====== ====== ====== Diluted $0.03 $0.01 $(0.05) $(0.01) $(0.15) ===== ===== ====== ====== ====== Weighted-average common shares outstanding: Basic 167,666 156,928 156,299 160,477 156,146 ======= ======= ======= ======= ======= Diluted 190,719 156,928 156,299 160,477 156,146 ======= ======= ======= ======= ======= Use of Non-GAAP Financial Measures

This press release includes the following measures defined as non-GAAP financial measures by the Securities and Exchange Commission: adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA"), pre-marketing operating income and net income (loss) excluding adjustments.

Vonage uses adjusted EBITDA and pre-marketing operating income as principal indicators of the operating performance of its business.

We believe that adjusted EBITDA permits a comparative assessment of our operating performance, relative to our performance based on our GAAP results, while isolating the effects of depreciation and amortization, which may vary from period to period without any correlation to underlying operating performance, and of share-based expense, which is a non-cash expense that also varies from period to period.

We believe that pre-marketing operating income is an important metric to evaluate the profitability of the existing customer base to justify the level of continued investment in growing that customer base. In addition, as we are focused on growing both our revenue and customer base, we have chosen to invest significant amounts on our marketing activities to acquire and replace subscribers.

We provide information relating to our adjusted EBITDA and pre-marketing operating income so that investors have the same data that we employ in assessing our overall operations. We believe that trends in our adjusted EBITDA and pre-marketing operating income are valuable indicators of the operating performance of our company on a consolidated basis and of our ability to produce operating cash flow to fund working capital needs, to service debt obligations and to fund capital expenditures.

We have also excluded the change in fair value of derivatives and gain (loss) on extinguishment of notes from our net income (loss) for the three and nine months ended September 30, 2009. The Company believes that excluding these items will assist investors in evaluating the Company's operating performance and in better understanding its results of operations when these events occurred on a comparative basis.

The non-GAAP financial measures used by us may not be directly comparable to similarly titled measures reported by other companies due to differences in accounting policies and items excluded or included in the adjustments, which limits its usefulness as a comparative measure. These non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.

Vonage defines adjusted EBITDA (which we previously referred to as adjusted income (loss) from operations) as GAAP income (loss) from operations excluding depreciation and amortization and share-based expense.

Vonage defines pre-marketing operating income as GAAP income (loss) from operations excluding customer equipment and shipping revenue, direct cost of goods sold, depreciation and amortization, marketing and share-based expense.

Vonage defines net income (loss) excluding adjustments, as GAAP net income (loss) excluding the change in fair value of derivatives and the gain (loss) on notes extinguishment.

Conference Call and Webcast

Management will host a webcast discussion of the quarter's results on Wednesday, November 4, 2009 at 10:00 AM Eastern Time. To participate, please dial (877) 723-9523 approximately ten minutes prior to the call. International callers should dial (719) 325-4828. A replay will be available approximately two hours after the conclusion of the call until midnight November 18, 2009, and may be accessed by dialing (888) 203-1112. International callers should dial (719) 457-0820. The replay passcode is: 7345106.

The webcast will be broadcast live through Vonage's Investor Relations website at http://ir.vonage.com/. Windows Media Player or RealPlayer is required to listen to this webcast. A replay will be available shortly after the live webcast.

Safe Harbor Statement

This press release contains forward-looking statements regarding future products and marketing strategy, churn, international calling costs, capital and software expense, and expected cash from operations. In addition, other statements in this press release that are not historical facts or information may be forward-looking statements. The forward-looking statements in this release are based on information available at the time the statements are made and/or management's belief as of that time with respect to future events and involve risks and uncertainties that could cause actual results and outcomes to be materially different. Important factors that could cause such differences include: restrictions in the Company's debt agreements that may limit its operating flexibility; any failure to meet New York Stock Exchange listing requirements; the competition the Company faces; worsening economic conditions; the Company's history of net operating losses; the Company's ability to obtain additional financing if needed; results of pending litigation and intellectual property and other litigation that may be brought against the Company; results of regulatory inquiries into the Company's business practices; differences between the Company's service and traditional phone services, including its 911 service; the Company's dependence on third party facilities, equipment and services; system disruptions or flaws in the Company's technology; the Company's dependence on its customers' existing broadband connections; uncertainties relating to regulation of VoIP services; and other factors that are set forth in the "Risk Factors" section and other sections of Vonage's Annual Report on Form 10-K for the year ended December 31, 2008, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, and therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today.

(vg-f)

Vonage Holdings Corp.

CONTACT: Vonage Investor Contact: Leslie Arena, +1-732-203-7372,
leslie.arena@vonage.com, Vonage Media Contact: Meghan Shaw, +1-732-203-7133,
meghan.shaw@vonage.com

Web Site: http://www.vonage.com/

Senesco Technologies Receives Notice of Non Compliance From AMEX

NEW BRUNSWICK, N.J., Nov. 4 /PRNewswire-FirstCall/ -- Senesco Technologies, Inc. (the "Company") (NYSE Amex: SNT) has received a notice from the NYSE Amex LLC ("NYSE") providing notification that the Company does not meet one of the NYSE's continued listing standards as set forth in Part 10 of the NYSE company guide and the Company has therefore become subject to the procedures and requirements of Section 1009 of the NYSE company guide. Specifically, the Company is not in compliance with Section 1003(a)(iii) of the NYSE company guide with stockholder's equity of less than $6,000,000 and losses from continuing operations and/or net losses in its five most recent fiscal years. The Company reported stockholder's equity of $5,667,834 at June 30, 2009.

The notice is based on a review by the NYSE of information which the Company has publicly disclosed, including information contained in the Company's Form 10-K for the period ended June 30, 2009, which disclosed the financial status of the Company at that time.

To maintain an NYSE listing, Senesco must submit a plan by November 30, 2009 advising the NYSE of action it has taken, or will take; that would bring Senesco into compliance with the continued listing standards within a maximum of 18 months from the date of notification by the NYSE. The Company is taking steps to prepare and submit such a plan to the NYSE on or before November 30, 2009.

The Listings Qualifications Department of the NYSE will evaluate Senesco's plan and determine whether it reasonably demonstrates the Company's ability to regain compliance with the continued listing standards within 18 months. If the NYSE accepts Senesco's plan, the Company may be able to continue its listing during the plan period, provided that Senesco demonstrates progress consistent with its plan and complies with other applicable NYSE listing qualifications. If the Company fails to submit a satisfactory plan or fails to demonstrate progress consistent with the plan accepted by the NYSE, the NYSE may initiate delisting procedures. During the plan period, Senesco will be subject to periodic review to determine whether it is achieving progress consistent with the plan.

About Senesco Technologies, Inc.

Senesco Technologies, Inc. is a U.S. biotechnology company, headquartered in New Brunswick, NJ. Senesco has initiated preclinical research to trigger or delay cell death in mammals (apoptosis) to determine if the technology is applicable in human medicine. Accelerating apoptosis may have applications to development of cancer treatments. Delaying apoptosis may have applications to certain inflammatory and ischemic diseases. Senesco takes its name from the scientific term for the aging of plant cells: senescence. Delaying cell breakdown in plants extends freshness after harvesting, while increasing crop yields, plant size and resistance to environmental stress. The Company believes that its technology can be used to develop superior strains of crops without any modification other than delaying natural plant senescence. Senesco has partnered with leading-edge companies engaged in agricultural biotechnology and earns research and development fees for applying its gene-regulating platform technology to enhance its partners' products.

Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors, including, but not limited to: the ability of the Company to consummate additional financings; the development of the Company's gene technology; the approval of the Company's patent applications; the successful implementation of the Company's research and development programs and joint ventures; the success of the Company's license agreements; the acceptance by the market of the Company's products; success of the Company's preliminary studies and preclinical research; competition and the timing of projects and trends in future operating performance, the Company's ability to comply with the continued listing standards of the AMEX, as well as other factors expressed from time to time in the Company's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Senesco Technologies, Inc.

CONTACT: Company: Bruce Galton, Chief Executive Officer, Senesco
Technologies, Inc., +1-732-296-8400, bgalton@senesco.com; or Investor
Relations: Brian Ritchie, FD, +1-212-850-5683, brian.ritchie@fd.com

Web Site: http://www.senesco.com/

VitaminSpice, Wholly-Owned Subsidiary of Qualsec, Signs Distribution Agreement With CaboChips for West Coast Distribution Into Major Retail Chains

WAYNE, Pa., Nov. 4 /PRNewswire-FirstCall/ -- Qualsec (OTC Bulletin Board: QLSZ; German WKN: A0YCND), which recently acquired Vitamin Spice, LLC, announced that VitaminSpice has reached an agreement with Cabo Foods Inc. in which VitaminSpice's vitamin-enhanced spices will be introduced to Cabo Foods' West-coast distribution networks and major retail chains that carry their high end gourmet chips.

These high end retail accounts include Ralph's Grocery (a Kroger company), Albertsons (a SUPERVALU company), Whole Foods Market, Inc. Costco, Henry's Farmers Market, Mother's Market & Kitchen, and Sprouts. The distribution area includes the states of California, Nevada, Arizona, Texas and Utah. More information on VitaminSpice can be obtained from their website http://www.vitaminspice.net/ .

We are excited to work with Cabo Foods and their innovative line of healthy natural products, stated Ed Bukstel, CEO VitaminSpice. Mr. Bukstel further stated, "We should begin to further accelerate our sales with this new arrangement."

Suggested VitaminSpice links: Facebook, Twitter About VitaminSpice

VitaminSpice is uniquely positioned between the $100 billion health food/vitamin supplement industry and the multi-trillion-dollar traditional food industry. A pioneer in the emerging foodceutical industry, VitaminSpice sells vitamin- mineral- and antioxidant-infused spices and food products. Their offerings currently include Crushed Red Pepper, Ground Black Pepper, Sea Salt, Italian Seasoning, Ground Cinnamon and Granulated Garlic. A proprietary micro-encapsulation process keeps the vitamin properties locked inside--even when heated--allowing the food products to retain their full flavor.

For additional news and information on VitaminSpice, contact Doug Wetzel, at (308) 385-4991 or visit VitaminSpice.net.

VitaminSpice Safe Harbor

This News Release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct.

Qualsec

CONTACT: Doug Wetzel, +1-308-385-4991, for Qualsec

Web Site: http://www.vitaminspice.net/

Dune Energy Reports Third Quarter 2009 Financial Results

HOUSTON, Nov. 4 /PRNewswire-FirstCall/ -- Dune Energy, Inc. (NYSE Amex: DNE) today announced results for the third quarter of 2009.

Revenue and Production

Revenue for the third quarter totaled $15.2 million as compared with $36.3 million for the third quarter of 2008. Production volumes in the third quarter were 170 Mbbls of oil and 1.1 Bcf of natural gas, or 2.1 Bcfe. This compares with 177 Mbbls of oil and 1.4 Bcf of natural gas, or 2.5 Bcfe for the third quarter of 2008. In the third quarter of 2009, the average sales price per barrel of oil was $66.59 and $3.49 per Mcf for natural gas, as compared with $123.81 per barrel and $10.29 per Mcf, for the third quarter of 2008. The primary reasons behind the decrease in revenue were lower production and lower average sales prices in the third quarter of 2009 versus the third quarter of 2008. Average price received per Mcfe produced was $7.13 in the third quarter of 2009 versus $14.75 in the third quarter of 2008, or a 52% decline.

Costs and Expenses

Total lease operating expense for the third quarter was $7.6 million versus $10.5 million for the third quarter of 2008. DD&A expense was $5.5 million for the third quarter versus $12.2 million for the third quarter of 2008. Net cash G&A expense totaled $2.3 million for the third quarter of 2009 versus $3.4 million for the third quarter of 2008. The $1.1 million decrease reflects a continued emphasis on cost controls. Interest and financing expense, primarily associated with payment of 10.5% interest on the $300 million of Senior Secured Notes, was $8.8 million for the third quarter of 2009 versus $8.9 million for the third quarter of 2008.

Earnings

Net loss totaled $11.3 million for the third quarter of 2009 versus net income of $14.3 million for the third quarter of 2008. Preferred stock dividends were $9.7 million in the third quarter of 2009 versus $6.8 million in the third quarter of 2008. Net loss per share both basic and diluted for the quarter was $0.14, based on 148.2 million weighted average shares outstanding as compared with $0.08 basic earnings per share and $0.06 diluted earnings per share in the third quarter of 2008 with 93.7 million weighted average basic shares outstanding and 226.9 million weighted average diluted shares outstanding. The increased outstanding common shares are predominately associated with conversion of preferred shares into common shares.

Liquidity

At the end of the quarter, cash was $19.9 million versus $15.5 million at year end 2008. Accounts payable were $9.3 million in the current quarter versus $21.7 million at year end 2008. Availability under the Wells Fargo Foothill revolver was reset to $40 million in August 2009. Currently there is $17 million drawn against the revolver and $8.8 million issued in standby letters of credit. The $17 million is now considered a current liability as the maturity of the revolver is May 15, 2010. Under our Wells Fargo Foothill revolver, we are required to maintain $10 million of cash or availability at the end of each quarter.

Capital Program and Operations

In the third quarter of 2009, we invested $3.0 million primarily in workovers of existing wells and completion operations at the Alvin Townsite GU #1. New production from these operations plus the completion of the Wieting #32 at Chocolate Bayou Field should result in fourth quarter volumes averaging between 27 and 33 Mcfe/day depending on final rates on the wells and timing of production facilities. With increased commodity prices and resultant increased cash flow we anticipate initiating a 2-4 well drilling program in our Garden Island Bay field late in 2009 or early 2010.

Common Equity and Preferred Shares

At the end of the quarter there were 169.1 million common shares outstanding up from 139.4 million at the end of the second quarter reflecting the conversion of 23,610 preferred shares into 29.3 million new common shares. This total includes 15.8 million common shares issued to pay make-whole premiums. The make-whole premium can be paid at Dune's election in cash or shares of common stock. When paid in shares of common stock, this creates significant dilution for the common stock holders. This provision is only applicable through June of 2010. At the end of the quarter there were 204,703 preferred shares outstanding.

James A. Watt, President and Chief Executive Officer commented, "We continue to focus capital on high return projects within our fields while maintaining sufficient liquidity to be in compliance with all debt covenants. Increased production volumes and increased commodity prices should allow for the drilling of new wells within our fields as we move into 2010."

Click here for more information: http://www.duneenergy.com/news.html?b=1683&1=1

FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected drilling and development wells and associated costs, statements relating to estimates of, and increases in, production, cash flows and values, statements relating to the continued advancement of Dune Energy, Inc.'s projects and other statements which are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although Dune Energy, Inc. believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, geological conditions in the reservoir may not result in commercial levels of oil and gas production, changes in product prices and other risks disclosed in Dune's Annual report on Form 10-K filed with the U.S. Securities and Exchange Commission.

Dune Energy, Inc. Consolidated Balance Sheets (Unaudited) ASSETS September 30, 2009 December 31, 2008 ------------------ ----------------- Current assets: Cash $19,852,970 $15,491,532 Accounts receivable, net of reserve for doubtful accounts of $0 and $396,629 10,352,679 14,477,918 Prepayments and other current assets 875,207 6,910,422 Derivative assets 47,642 4,015,219 ------ --------- Total current assets 31,128,498 40,895,091 ---------- ---------- Oil and gas properties, using successful efforts accounting -proved 587,683,201 578,074,569 Less accumulated depreciation, depletion, amortization and impairment (243,373,393) (222,876,172) ------------ ------------ Net oil and gas properties 344,309,808 355,198,397 ----------- ----------- Property and equipment, net of accumulated depreciation of $2,042,136 and $1,406,927 1,420,207 2,086,313 Deferred financing costs, net of accumulated amortization of $1,416,477 and $970,068 1,175,248 1,621,657 Other assets 4,425,467 2,250,868 --------- --------- 7,020,922 5,958,838 --------- --------- TOTAL ASSETS $382,459,228 $402,052,326 ============ ============ LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $9,318,554 $21,662,965 Accrued liabilities 28,749,814 20,038,900 Short-term debt 17,000,000 2,013,699 Preferred stock dividend payable 2,047,000 2,446,985 --------- --------- Total current liabilities 57,115,368 46,162,549 Long-term debt, net of discount of $8,430,845 and $10,393,213 291,569,155 289,606,787 Other long-term liabilities 16,448,620 15,732,483 ---------- ---------- Total liabilities 365,133,143 351,501,819 ----------- ----------- Commitments and contingencies - - Redeemable convertible preferred stock, net of discount of $7,720,440 and $9,179,927, liquidation preference of $1,000 per share, 750,000 shares designated, 204,703 and 236,805 shares issued and outstanding 196,982,560 227,625,073 STOCKHOLDERS' DEFICIT Preferred stock, $.001 par value, 1,000,000 shares authorized, 250,000 shares undesignated, no shares issued and outstanding - - Common stock, $.001 par value, 300,000,000 shares authorized, 169,055,173 and 96,129,047 shares issued and outstanding 169,055 96,129 Treasury stock, at cost (300,312 and 34,009 shares) (46,355) (8,332) Additional paid-in capital 84,465,456 50,155,812 Accumulated other comprehensive loss (936,523) (3,709,177) Accumulated deficit (263,308,108) (223,608,998) ------------ ------------ Total stockholders' deficit (179,656,475) (177,074,566) ------------ ------------ TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $382,459,228 $402,052,326 ============ ============ Dune Energy, Inc. Consolidated Statements of Operations (Unaudited) Three months ended Nine months ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Revenues $15,221,657 $36,304,350 $44,405,815 $124,498,520 ----------- ----------- ----------- ------------ Operating expenses: Lease operating expense and production taxes 7,568,253 10,542,897 22,571,307 33,857,045 Exploration expense - 14,950 - 114,950 Accretion of asset retirement obligation 403,223 165,697 1,225,016 483,463 Depletion, depreciation and amortization 5,510,120 12,187,417 21,158,208 40,514,691 General and administrative expense 3,060,245 4,852,145 11,692,710 15,022,657 --------- --------- ---------- ---------- Total operating expenses 16,541,841 27,763,106 56,647,241 89,992,806 ---------- ---------- ---------- ---------- Operating income (loss) (1,320,184) 8,541,244 (12,241,426) 34,505,714 ---------- --------- ----------- ---------- Other income(expense): Interest income 12,270 227,924 38,079 425,693 Interest expense (8,814,933) (8,856,723) (26,234,441) (26,381,409) Gain (loss) on derivative liabilities (1,137,767) 23,655,374 (1,261,322) (13,065,754) ---------- ---------- ---------- ----------- Total other income (expense) (9,940,430) 15,026,575 (27,457,684) (39,021,470) ---------- ---------- ----------- ----------- Income (loss) from continuing operations before income taxes (11,260,614) 23,567,819 (39,699,110) (4,515,756) Income tax benefit (expense) - (8,979,340) - 1,720,503 --- ---------- --- --------- Income (loss) from continuing operations (11,260,614) 14,588,479 (39,699,110) (2,795,253) ----------- ---------- ----------- ---------- Discontinued operations: Loss from operations of Barnett Shale Properties (including impairment in 2008 of $41,893,165) - (478,054) - (39,927,805) Income tax benefit - 182,139 - 15,212,494 --- ------- --- ---------- Loss on discontinued operations - (295,915) - (24,715,311) --- -------- --- ----------- Net income (loss) (11,260,614) 14,292,564 (39,699,110) (27,510,564) Preferred stock dividend (9,657,788) (6,791,034) (28,990,268) (87,218,441) ---------- ---------- ----------- ----------- Net income (loss) available to common shareholders $(20,918,402) $7,501,530 $(68,689,378) $(114,729,005) ============ ========== ============ ============= Net income (loss) per share: Basic from continuing operations $(0.14) $0.08 $(0.55) $(1.04) Basic from discontinued operations - - - (0.28) --- --- --- ----- Total basic $(0.14) $0.08 $(0.55) $(1.32) ====== ===== ====== ====== Net income (loss) per share: Diluted from continuing operations $(0.14) $0.06 $(0.55) $(1.04) Diluted from discontinued operations - - - (0.28) --- --- --- ----- Total diluted $(0.14) $0.06 $(0.55) $(1.32) ====== ===== ====== ====== Weighted average shares outstanding: Basic 148,162,869 93,655,276 125,050,485 86,744,254 Diluted 148,162,869 226,949,884 125,050,485 86,744,254 Comprehensive loss: Net income (loss) $(11,260,614) $14,292,564 $(39,699,110) $(27,510,564) Other comprehensive income 924,218 113,439 2,772,654 1,174,257 ------- ------- --------- --------- Comprehensive income (loss) $(10,336,396) $14,406,003 $(36,926,456) $(26,336,307) ============ =========== ============ ============ Dune Energy, Inc. Consolidated Statements of Cash Flows (Unaudited) Nine months ended September 30, ------------- 2009 2008 ---- ---- CASH FLOWS FROM OPERATING ACTIVITIES Net loss $(39,699,110) $(27,510,564) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Loss from discontinued operations - 24,715,311 Depletion, depreciation and amortization 21,158,208 40,514,691 Amortization of deferred financing costs and debt discount 2,408,777 2,195,808 Stock-based compensation 3,313,135 3,916,090 Exploration expense - 114,950 Deferred tax benefit - (1,720,503) Accretion of asset retirement obligation 1,225,016 483,463 Loss on derivative liabilities 7,418,357 3,338,345 Changes in: Accounts receivable 3,928,512 13,482,188 Prepayments and other assets 2,780,838 4,095,335 Payments made to settle asset retirement obligations (553,287) (1,038,825) Accounts payable and accrued liabilities (3,598,292) (45,455,821) ---------- ----------- NET CASH PROVIDED BY (USED IN) CONTINUING OPERATIONS (1,617,846) 17,130,468 NET CASH PROVIDED BY DISCONTINUED OPERATIONS - 7,189,892 --- --------- NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (1,617,846) 24,320,360 ---------- ---------- CASH FLOWS FROM INVESTING ACTIVITIES Investment in proved and unproved properties (9,002,565) (34,269,414) Purchase of furniture and fixtures (4,452) (412,793) Proceeds from sale of assets - 38,122,619 --- ---------- NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES - CONTINUED OPERATIONS (9,007,017) 3,440,412 NET CASH USED IN INVESTING ACTIVITIES -DISCONTINUED OPERATIONS - (9,053,023) --- ---------- NET CASH USED IN INVESTING ACTIVITIES (9,007,017) (5,612,611) ---------- ---------- CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from short-term debt 17,000,000 - Proceeds from long-term debt - 28,100,000 Payments on long-term debt - (28,100,000) Payments on short-term debt (2,013,699) (2,053,691) ---------- ---------- NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 14,986,301 (2,053,691) ---------- ---------- NET CHANGE IN CASH BALANCE 4,361,438 16,654,058 Cash balance at beginning of period 15,491,532 16,771,726 ---------- ---------- Cash balance at end of period $19,852,970 $33,425,784 =========== =========== SUPPLEMENTAL DISCLOSURES Interest paid $15,864,575 $16,310,601 Income taxes paid - - NON-CASH DISCLOSURES Common stock issued for conversion of preferred stock $52,753,000 $15,240,000 Redeemable convertible preferred stock dividends 27,530,781 87,218,441 Accretion of discount on preferred stock 1,459,487 1,303,589

Dune Energy, Inc.

CONTACT: Investors, Steven J. Craig, Sr. Vice President Investor
Relations and Administration of Dune Energy, Inc., +1-713-229-6300

Web Site: http://www.duneenergy.com/

Newbridge Securities Corporation Initiates Coverage of the Semiconductor Equipment Sector, Including AEIS, AMAT, BRKS, MKSI and UCTT

FT. LAUDERDALE, Fla., Nov. 4 /PRNewswire/ -- Newbridge Securities Corporation announces the initiation of coverage of the Semiconductor Equipment and Materials Sector. The coverage launch on October 29, 2009, authored by Tim Summers, Senior Vice President, included a Semiconductor Equipment Industry overview and coverage of five individual companies. The five companies now under coverage are; Advanced Energy Industries Inc. (AEIS, Buy-rated, $15 price target), Applied Materials Inc. (AMAT, Buy-rated, $17 price target), Brooks Automation Inc. (BRKS, Neutral-rated), MKS Instruments, Inc. (MKSI, Buy-rated, $23 price target) and Ultra Clean Holdings Inc. (UCTT, Buy-rated $10 price target).

(Logo: http://www.newscom.com/cgi-bin/prnh/20090309/FL80823LOGO )

Outlook - Significant Improvement Exiting the Year, Expect Further Gains in 2010

According to Tim, "We believe the semiconductor equipment industry has entered a cyclical recovery from its disastrous 2007-1Q09 downturn. The downturn saw annual semiconductor industry revenue growth slow to low single digits in both 2007 and 2008 (vs. a long-term average annual growth rate of 10%) and then drop an estimated 18% this year. During this period, semiconductor capital spending declined over 50% and was the worst industry downturn since 2001-2002. While we are forecasting semiconductor industry capital spending to decline about 40% in 2009 on an annual basis, we believe industry orders hit bottom in 1Q09 and capital spending is now rising, albeit from a very low base. Given the severity of the downturn, we believe this particular cyclical recovery could be quite strong, especially in the early stages."

Gary Spivak, Director of Equity Research, stated: "As the overall economy shows some signs of strengthening, we believe that the Technology Sector will be a leader in the recovery and that the semiconductor equipment sector has historically been a strong performer during times of recovery. Tim is an experienced analyst who has followed this industry through numerous cycles. This sets him apart from many of his competitors."

About Newbridge

Newbridge Securities Corporation is a full-service securities broker-dealer and investment bank with corporate offices in Florida and locations throughout the United States. Since 2000, the Firm has served a broad range of individual and corporate clients, with a focus on providing quality products, services and advice.

For more information on Newbridge, please visit our public web-site at http://www.newbridgesecurities.com/

Photo: http://www.newscom.com/cgi-bin/prnh/20090309/FL80823LOGO Newbridge Securities Corporation

CONTACT: Gary Spivak, Director of Equity Research, Newbridge Securities
Corporation, +1-954-334-3450, gspivak@newbridgesecurities.com

Web Site: http://www.newbridgesecurities.com/

ChinaNet Online Holdings, Inc. Announces Appointment of New Chief Technology Officer

BEIJING, Nov. 4 /PRNewswire-Asia-FirstCall/ -- ChinaNet Online Holdings, Inc. ("ChinaNet", OTC Bulletin Board: CHNT), a leading full-service media development, advertising and communications company for small and medium companies (SMEs) in the People's Republic of China ("China"), announced the appointment of Mr. Hongli Xu as the Company's Chief Technology Officer who will lead the technology and product development efforts for ChinaNet.

"We are pleased to have Hongli Xu join our management team and believe he will provide critical leadership as we continue to elevate ChinaNet's position in the Chinese media and advertising markets," stated Mr. Handong Cheng, Chairman and CEO of the Company. "Mr. Xu brings over two decades of experience in the internet and software development industry in various sectors. We are delighted to have him as our new Chief Technology Officer and believe he will make significant contributions to our future growth and development."

Prior to joining the Company, from 2004 to 2006, Mr. Xu served as Project Manager at ThinkingPower Technology Co., Ltd., an e-government software company focused on the broadcasting and television industry, where Mr. Xu oversaw the development and management of a full suite of software products designed to improve government interactions with citizens and businesses. From 2001 to 2004, Mr. Xu was Product Manager at Acer Digital Services (China) Company, the world's third largest PC manufacturer, where he was in charge of internet product development for several of the Company's subsidiaries. From 1998 to 2000, Mr. Xu served as Project Manager at Colored Ribbons Information System Co., Ltd, a software development company focused on the electron industry, where he was directly responsible for analyzing, designing, and testing business application solutions and software products. Mr. Xu is a highly accomplished professional with a 20-year proven track record of innovation and success in the internet software development industry and created the first B2B website in China, "CCEC.com." Mr. Xu has a Bachelor Degree in Software from Dalian University of Technology.

Mr. Xu commented, "I welcome the opportunity to serve as Chief Technology Officer of ChinaNet Online Holdings and look forward to contributing to this critical position. I believe the Company is well positioned to further enhance its advertising platform while expanding its Internet and TV advertising businesses throughout China."

Safe Harbor

This release contains certain "forward-looking statements" relating to the business of ChinaNet Online Holdings, Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ChinaNet's current expectations and beliefs concerning future developments and their potential effects on the company. There can be no assurance that future developments affecting ChinaNet will be those anticipated by ChinaNet. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ChinaNet undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

For further information, contact: Mark Elenowitz TriPoint Capital Advisors Tel: +1-917-512-0822 Ted Haberfield HC International, Inc. Tel: +1-760-755-2716 Email: thaberfield@hcinternational.net Web: http//http://www.hcinternational.net/

ChinaNet Online Holdings, Inc.

CONTACT: Mark Elenowitz of TriPoint Capital Advisors, +1-917-512-0822,
or Ted Haberfield of HC International, Inc., +1-760-755-2716,
thaberfield@hcinternational.net

Web site: http//http://www.hcinternational.net/

ShengdaTech, Inc. to Present at Upcoming Investor Conferences in November

SHANGHAI, Nov. 4 /PRNewswire-Asia-FirstCall/ -- ShengdaTech, Inc. ("ShengdaTech" or the "Company") , the leading manufacturer of nano-precipitated calcium carbonate ("NPCC") in China, today announced that the Company's management team will present at the upcoming Oppenheimer "4th Annual Industrials Conference" and Brean Murray, Carret & Co. "2009 China Growth Conference" in New York City.

The Oppenheimer 4th Annual Industrials Conference

The date, time, and location of ShengdaTech's presentation at the Oppenheimer 4th Annual Industrials Conference are as follows:

Date: Wednesday, November 18, 2009 Time: 8:00 a.m. to 8:40 a.m. Eastern Time in Room 5.07 Presenter: Andrew Chen, Chief Financial Officer Venue: Millennium Broadway Hotel 145 West 44th Street New York, New York 10036

According to Oppenheimer, the event will be held November 17-18, 2009 and will feature over 80 leading public and private companies. The two-day conference will showcase a diverse mix of leading large and mid-cap industrial, chemical, shipping, and aerospace/defense companies, as well as a number of high-growth small cap and private firms. The event should provide a broad perspective across a variety of end markets in the industrial universe as 2010 approaches. The format will allow investors to meet with senior executives of the presenting companies for one-on-one discussions.

The Brean Murray, Carret & Co. 2009 China Growth Conference

The date, time, and location of ShengdaTech's presentation at the Brean Murray, Carret & Co. 2009 China Growth Conference are as follows:

Date: Friday, November 20, 2009 Time: 11:20 a.m. to 11:55 a.m. Eastern Time in Track II Presenter: Andrew Chen, Chief Financial Officer Venue: The Millennium Broadway Hotel 145 West 44th Street New York, New York 10036

Brean Murray, Carret & Co. states that the event will be held November 19- 20, 2009 will feature 70 leading companies. The two-day conference consists of 25-minute presentation slots followed by 10-minutes of open floor Q&A sessions with institutional clients. The gathering of presenting companies, senior management, and industry experts, as well as institutional investors, will enjoy a unique and comprehensive look at China on a global scale. In addition to each company presentation, one-on-one meetings will also be offered throughout the day.

About ShengdaTech, Inc.

ShengdaTech is engaged in the business of manufacturing, marketing, and selling nano- precipitated calcium carbonate ("NPCC") products. The Company converts limestone into NPCC using its proprietary and patent-protected technology. ShengdaTech is the only company possessing proprietary NPCC technology in China. In addition to its broad customer base in China, the Company currently exports to Singapore, Thailand, South Korea, Malaysia, Vietnam, India and Israel. For more information, contact CCG Investor Relations directly or go to ShengdaTech's website at http://www.shengdatechinc.com/ .

For more information, please contact: Andrew Chen, Chief Financial Officer ShengdaTech, Inc. Tel: +86-21-5835-8738 Email: andrew.chen@shengdatech.com Web: http://www.shengdatechinc.com/ Crocker Coulson, President CCG Investor Relations Tel: +1-646-213-1915 Email: crocker.coulson@ccgir.com Web: http://www.ccgirasia.com/

ShengdaTech, Inc.

CONTACT: Andrew Chen, Chief Financial Officer, ShengdaTech, Inc., +86-21-
5835-8738, or andrew.chen@shengdatech.com; Crocker Coulson, President, CCG
Investor Relations, +1-646-213-1915, or crocker.coulson@ccgir.com

Web site: http://www.shengdatechinc.com/
http://www.ccgirasia.com/

Biostar Pharmaceuticals, Inc. to Present at the Brean Murray, Carret & Co. China Growth Conference

XIANYANG, China, Nov. 4 /PRNewswire-Asia-FirstCall/ -- Biostar Pharmaceuticals, Inc. (BULLETIN BOARD: BSPM) ("Biostar" or "the Company"), a Xianyang-based developer, manufacturer and supplier of pharmaceutical products and medical nutrients addressing a variety of diseases and conditions, today announced that it will present at the Brean Murray, Carret & Co. China Growth Conference, to be held November 19-20, 2009, at the Millennium Broadway Hotel, 150 West 45th Street, New York City.

Mr. Ronghua Wang, Chief Executive Officer and Ms. Elaine Zhao, Chief Financial Officer, are scheduled to present at 11:20 am ET on Thursday November 19 and are available to host one-on-one meetings with conference attendees throughout the one-day event. Mr. Wang and Ms. Zhao will discuss the Company's products including Biostar's leading hepatitis B medicine, Xin Aoxing, the Company's expansion into rural networks in China, financial results, and the Company's long-term growth strategies.

Registration is mandatory. For more information on the conference, contact your Brean Murray, Carret & Co. representative. To register please visit or contact Lindsay Zuckerman at 212-702-6577 or via email at Lindsay.Zuckerman@bmur.com.

About Biostar Pharmaceuticals, Inc.

Biostar Pharmaceuticals, Inc., through its wholly-owned subsidiary in China, develops, manufactures and markets pharmaceutical and medical nutrient products for a variety of diseases and conditions. The Company's most popular product is its Xin Ao Xing Oleanolic Acid Capsule, an over-the-counter ("OTC") medicine for chronic hepatitis B, a disease affecting approximately 10% of the Chinese population. In addition to its hepatitis product, Biostar manufactures two broad-based OTC products, two prescription-based pharmaceuticals and ten nutrients. The Company has adopted international standards and is in the process of applying for two patents.

Safe Harbor

Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, our ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts and legal restrictions on raising capital or acquiring companies outside China. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our S-1 dated June 27, 2008, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2009, our 10-K for the year ended December 31, 2008, and other recent filings. These filings are available at http://www.sec.gov/. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by or on our behalf.

For further information, contact: Ms. Elaine Zhao, CFO Tel: +1-626-456-2789 Email: elaine@biostarpharmaceuticals.com John Mattio HC International, Inc. Tel: +1-914-669-5340 Email: john.mattio@hcinternational.net Web: http://www.hcinternational.net/

Biostar Pharmaceuticals, Inc.

CONTACT: Elaine Zhao, CFO of Biostar Pharmaceuticals, Inc.,
+1-626-456-2789, elaine@biostarpharmaceuticals.com; or John Mattio of HC
International, Inc., +1-914-669-5340 (US), john.mattio@hcinternational.net

Web site: http://www.hcinternational.net/

Agilysys Reports Unaudited Fiscal 2010 Second-Quarter and First-Half Results

CLEVELAND, Nov. 4 /PRNewswire-FirstCall/ --

-- Quarterly Net Income from Continuing Operations Improves Sharply to $2.9 Million, or $0.12 Per Diluted Share, on 9% Lower Revenue -- Revenue Increases 20% Sequentially -- Debt Free With $48.2 Million Cash on Hand at Sept. 30 vs $36.2 Million at Fiscal Year-End

Agilysys, Inc. , a leading provider of innovative IT solutions, today announced unaudited financial results for the fiscal 2010 second quarter and first half ended September 30, 2009.

(Logo: http://www.newscom.com/cgi-bin/prnh/20030915/AGLSLOGO ) Second-Quarter Unaudited Results of Operations

Revenue declined 9.0% to $156.0 million, compared with $171.4 million in the second quarter of fiscal 2009. Hardware sales declined 3.5%, services declined 32.6% and software sales increased 14.0%. Consolidated revenues rebounded 19.8% from the $130.2 million reported in the first quarter, due to double-digit growth in hardware, software and services.

Cost-cutting initiatives and lower acquisition-related intangible amortization drove selling, general and administrative (SG&A) expense down $12.4 million, or 23.9%, to $39.6 million. The Company recently executed an additional $9 million in annual savings of which approximately $4 million will be realized in the second half of fiscal 2010.

The Company's operating income, excluding restructuring and asset impairment charges ("Charges"), improved $6.2 million to $4.3 million from the operating loss of $1.9 million last year. Lower sales and gross profit year-over-year were more than offset by lower SG&A expense. Adjusted EBITDA (operating income plus depreciation and amortization), excluding Charges, increased 44.9% to $7.4 million for the quarter, compared with $5.1 million a year ago.

Agilysys reported net income from continuing operations of $2.9 million, or $0.12 per diluted share, a significant increase from the loss of $105.3 million, or a loss of $4.66 per share, recorded in the previous year.

"We are pleased to report strong sequential growth in sales and positive net earnings for the quarter. The improvement in profitability reflects the tangible benefits realized from our cost-saving efforts," said Martin Ellis, President and Chief Executive Officer. "In addition to improved bottom-line performance, our order pipeline has started to show modest recovery from the depressed levels of the past several quarters."

Fiscal 2010 First-Half Unaudited Results of Operations

First-half 2010 revenue was $286.2 million compared with revenue of $351.2 million in the first six months of 2009. Revenue in the first half of fiscal 2010 decreased 18.5% reflecting lower sales in each of the company's three business segments. Hardware declined 13.6%, services declined 36.3% and software decreased 8.2%.

SG&A expense declined $23.7 million, or 22.0%, to $84.1 million, largely due to cost reductions. Approximately $44 million in annual costs have been eliminated since the first quarter of fiscal year 2009 when the company began aggressively reducing SG&A expenses to align cost structure with deteriorating market demand. Adjusted EBITDA, excluding Charges, was $1.1 million for the six-month period, versus $3.3 million in the comparable period of fiscal 2009.

For the first six months of fiscal 2010, the company reported a net loss from continuing operations of $9.5 million, or a loss of $0.42 per share, compared with a net loss from continuing operations of $165.4 million, or a loss of $7.33 per share, in the first six months of fiscal 2009.

Business Outlook

The year-over-year declines in revenue have moderated and while some economic indicators have improved, market conditions still reflect uncertainty regarding the overall business environment and demand for IT products. Ellis commented: "The business is stabilizing, our pipeline has improved, and we expect to see a seasonal increase in sales in our third quarter ending December. As we look to the balance of fiscal 2010, we plan to continue to focus on those items under our control that can help produce tangible improvements in results. Near-term, we are optimistic regarding our outlook for the third quarter of the fiscal year and expect financial performance in second half to improve versus the first half."

Conference Call Information

A conference call will be held at 11:00 a.m. ET on November 4, 2009 to review unaudited second-quarter and first-half fiscal 2010 results. A slide deck will be the basis for the review. Both the slide deck and the conference call can be accessed via the Investor Relations section of http://www.agilysys.com/. In addition, a replay of the call will be archived on the Web site. If you are unable to participate during the live webcast, the call will be archived at the Investor Relations section of http://www.agilysys.com/.

Forward-Looking Language

This release contains certain management expectations, which may constitute forward-looking information within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities and Exchange Act of 1934 and the Private Securities Reform Act of 1995. Forward-looking information speaks only as to the date of this presentation and may be identified by use of words such as "may," "will," "believes," "anticipates," "plans," "expects," "estimates," "projects," "targets," "forecasts," "continues," "seeks," or the negative of those terms or similar expressions. Many important factors could cause actual results to be materially different from those in forward-looking information including, without limitation, competitive factors, disruption of supplies, changes in market conditions, pending or future claims or litigation, or technology advances. No assurances can be provided as to the outcome of cost reductions, business strategies, future financial results, unanticipated downturns to our relationships with customers, unanticipated difficulties integrating acquisitions, new laws and government regulations, interest rate changes, and unanticipated deterioration in economic and financial conditions in the United States and around the world. We do not undertake to update or revise any forward-looking information even if events make it clear that any projected results, actions, or impact, express or implied, will not be realized.

Other potential risks and uncertainties that may cause actual results to be materially different from those in forward-looking information are described in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC), under Item 1A, "Risk Factors." Copies are available from the SEC or the Agilysys website.

Use of Non-GAAP Financial Information

To supplement the unaudited condensed consolidated financial statements presented in accordance with U.S. GAAP in this release, certain non-GAAP financial measures as defined by the SEC rules are used. Management believes that such information can enhance investors' understanding of the Company's ongoing operations and is a measure used in the Company's debt agreement. The non-GAAP measures included in this release have been reconciled to the comparable GAAP measures within an accompanying table, shown on the last page of this release.

About Agilysys, Inc.

Agilysys is a leading provider of innovative IT solutions to corporate and public-sector customers, with special expertise in select markets, including retail and hospitality. The Company uses technology--including hardware, software and services--to help customers resolve their most complicated IT needs. The Company possesses expertise in enterprise architecture and high availability, infrastructure optimization, storage and resource management, identity management and business continuity; and provides industry-specific software, services and expertise to the retail and hospitality markets. Headquartered in Cleveland, Agilysys operates extensively throughout North America, with additional sales offices in the United Kingdom and Asia.

News releases and other information on Agilysys are available on the Internet at: http://www.agilysys.com/.

Investor Contact: Curtis Stout Vice President and Treasurer Agilysys, Inc. 440-519-8635 curtis.stout@agilysys.com Media Contact: Maureen Morreale Senior Communications Manager Agilysys, Inc. 440-519-8161 maureen.morreale@agilysys.com AGILYSYS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended Six Months Ended (In thousands, except Sep 30, Sep 30, share and per-share ----------------------- ----------------------- data) 2009 2008 2009 2008 ---- ---- ---- ---- Net sales: Products $126,925 $128,313 $231,818 $265,892 Services 29,070 43,125 54,367 85,297 ------ ------ ------ ------ Total net sales 155,995 171,438 286,185 351,189 Cost of goods sold: Products 99,623 99,449 185,503 212,890 Services 12,499 21,881 24,958 41,169 ------ ------ ------ ------ Total cost of goods sold 112,122 121,330 210,461 254,059 ------- ------- ------- ------- Gross margin 43,873 50,108 75,724 97,130 Selling, general and administrative expenses 39,618 52,032 84,144 107,834 Asset impairment charges - 112,020 - 145,643 Restructuring charges 54 510 68 23,573 -- --- -- ------ Operating income (loss) 4,201 (114,454) (8,488) (179,920) Other expense (income): Other expense (income), net 81 (242) (390) (480) Interest income (9) (215) (42) (462) Interest expense 253 197 460 452 --- --- --- --- Income (loss) before income taxes 3,876 (114,194) (8,516) (179,430) Income tax expense (benefit) 988 (8,917) 1,003 (14,080) --- ------ ----- ------- Income (loss) from continuing operations 2,888 (105,277) (9,519) (165,350) Loss from discontinued operations (52) (1,312) (41) (1,274) --- ------ --- ------ Net income (loss) $2,836 $(106,589) $(9,560) $(166,624) ====== ========= ======= ========= Income (loss) per share - basic Income (loss) from continuing operations $0.13 $(4.66) $(0.42) $(7.33) Loss from discontinued operations (0.00) (0.06) (0.00) (0.05) ----- ----- ----- ----- Net income (loss) $0.13 $(4.72) $(0.42) $(7.38) ===== ====== ====== ====== Income (loss) per share - diluted Income (loss) from continuing operations $0.12 $(4.66) $(0.42) $(7.33) Loss from discontinued operations (0.00) (0.06) (0.00) (0.05) ----- ----- ----- ----- Net income (loss) $0.12 $(4.72) $(0.42) $(7.38) Weighted average shares outstanding Basic 22,625,654 22,601,549 22,626,491 22,569,206 Diluted 22,879,030 22,601,549 22,626,491 22,569,206 Cash dividends per share $0.03 $0.03 $0.06 $0.06 AGILYSYS, INC. BUSINESS SEGMENT INFORMATION (UNAUDITED) Three Months Ended Six Months Ended Sep 30, Sep 30, ----------------------- ----------------------- (In thousands) 2009 2008 2009 2008 ---- ---- ---- ---- Hospitality (HSG) Total revenue $23,836 $23,488 $40,386 $48,242 Elimination of intersegment revenue (514) (43) (1,057) (82) ---- --- ------ --- Revenue from external customers $23,322 $23,445 $39,329 $48,160 ======= ======= ======= ======= Gross margin $14,237 $14,435 $23,777 $28,844 ======= ======= ======= ======= 61.0% 61.6% 60.5% 59.9% Depreciation and amortization $1,104 $1,855 $2,227 $3,186 Operating income (loss) 3,997 (102,906) 2,095 (108,765) ----- -------- ----- -------- Adjusted EBITDA $5,101 $(101,051) $4,322 $(105,579) ====== ========== ====== ========= Goodwill and intangible asset impairment $- $103,387 $- $110,852 Retail (RSG) Total revenue $23,582 $29,437 $47,970 $67,704 Elimination of intersegment revenue (19) (148) (20) (316) --- ---- --- ---- Revenue from external customers $23,563 $29,289 $47,950 $67,388 ======= ======= ======= ======= Gross margin $4,694 $6,094 $10,070 $14,493 ====== ====== ======= ======= 19.9% 20.8% 21.0% 21.5% Depreciation and amortization $44 $53 $94 $141 Operating income (loss) 1,133 (5,942) 2,763 (20,314) ----- ------ ----- ------- Adjusted EBITDA $1,177 $(5,889) $2,857 $(20,173) ====== ======= ====== ======== Goodwill impairment $- $6,549 $- $24,910 Technology (TSG) Total revenue $109,126 $120,047 $198,950 $238,748 Elimination of intersegment revenue (16) (1,343) (44) (3,107) --- ------ --- ------ Revenue from external customers $109,110 $118,704 $198,906 $235,641 ======== ======== ======== ======== Gross margin $24,909 $29,009 $42,638 $51,446 ======= ======= ======= ======= 22.8% 24.4% 21.4% 21.8% Depreciation and amortization $817 $4,061 $4,768 $8,534 Operating income (loss) 6,320 5,732 3,786 (26,313) ----- ----- ----- ------- Adjusted EBITDA $7,137 $9,793 $8,554 $(17,779) ====== ====== ====== ======== Goodwill impairment $- $2,084 $- $9,881 Restructuring charge $- $510 $- $23,573 AGILYSYS, INC. BUSINESS SEGMENT INFORMATION (Unaudited) Three Months Ended Six Months Ended Sep 30, Sep 30, ----------------------- ----------------------- (In thousands) 2009 2008 2009 2008 ---- ---- ---- ---- Corporate / Other Gross margin $33 $570 $(761) $2,347 === ==== ===== ====== Depreciation and amortization (a) $1,205 $1,079 $2,409 $2,098 Operating loss (7,249) (11,338) (17,132) (24,528) ------ ------- ------- ------- Adjusted EBITDA $(6,044) $(10,259) $(14,723) $(22,430) ======= ======== ======== ======== Restructuring charge $54 $- $68 $- Consolidated Total revenue $156,544 $172,972 $287,306 $354,694 Elimination of intersegment revenue (549) (1,534) (1,121) (3,505) ---- ------ ------ ------ Revenue from external customers $155,995 $171,438 $286,185 $351,189 ======== ======== ======== ======== Gross margin $43,873 $50,108 $75,724 $97,130 ======= ======= ======= ======= 28.1% 29.2% 26.5% 27.7% Depreciation and amortization (a) $3,170 $7,048 $9,498 $13,959 Operating income (loss) 4,201 (114,454) (8,488) (179,920) ----- -------- ------ -------- Adjusted EBITDA $7,371 $(107,406) $1,010 $(165,961) ====== ========= ====== ========= Goodwill and intangible asset impairment $- $112,020 $- $145,643 Restructuring charge $54 $510 $68 $23,573 (a) Does not include the amortization of deferred financing fees totaling $132 and $57 for the three months ended Sept. 30, 2009 and 2008, respectively, and $220 and $113 for the six months ended Sept. 30, 2009 and 2008, respectively, all of which related to the Corporate/Other segment. AGILYSYS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS Sep 30, Mar 31, (In thousands) 2009 2009 ---- ---- ASSETS (Unaudited) Current assets: Cash and cash equivalents $48,197 $36,244 Accounts receivable, net 125,166 151,944 Inventories, net 22,036 27,216 Deferred income taxes - current, net 6,845 6,836 Prepaid expenses and other current assets 5,337 4,564 Income taxes receivable 3,874 3,871 Assets of discontinued operations - current 285 1,075 --- ----- Total current assets 211,740 231,750 Goodwill 50,563 50,382 Intangible assets, net 29,877 35,699 Deferred income taxes - non-current, net 511 511 Other non-current assets 18,467 29,008 Assets of discontinued operations - non-current - 56 Property and equipment, net 29,471 27,030 ------ ------ Total assets $340,629 $374,436 ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $92,832 $28,042 Floor plan financing - 74,159 Deferred revenue 20,435 18,709 Accrued liabilities 20,665 37,807 Long-term debt - current 195 238 Liabilities of discontinued operations - current 575 1,176 --- ----- Total current liabilities 134,702 160,131 Other non-current liabilities 21,827 21,588 Shareholders' equity: Common shares, without par value, at $0.30 stated value; authorized 80,000,000 shares; 31,606,831 shares issued and 23,031,119 shares outstanding at Sep 30, 2009 9,370 9,366 Treasury stock (8,575,712 and 8,896,778 shares at Sep 30, 2009, and Mar 31, 2009, respectively) (2,670) (2,670) Capital in excess of stated value (9,934) (11,036) Retained earnings 189,027 199,947 Accumulated other comprehensive loss (1,693) (2,890) ------ ------ Total shareholders' equity 184,100 192,717 ------- ------- Total liabilities and shareholders' equity $340,629 $374,436 ======== ======== AGILYSYS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Six Months Ended (In thousands) Sep 30, ------------------------ Operating activities: 2009 2008 ---- ---- Net loss $(9,560) $(166,624) Add: Loss from discontinued operations 41 1,274 -- ----- Loss from continuing operations (9,519) (165,350) Adjustments to reconcile net loss from continuing operations to net cash provided by (used for) operating activities (net of effects from business acquisitions): Impairment of goodwill and intangible assets - 166,223 Gain on redemption of cost basis investment - (51) Gain on partial redemption of investment in The Reserve Fund's Primary Fund (70) - Loss on the sale of securities 91 - Depreciation 1,891 1,927 Amortization 7,827 12,145 Deferred income taxes (9) (18,372) Stock-based compensation 1,073 2,152 Changes in working capital: Accounts receivable 26,778 32,699 Inventories 5,180 2,001 Accounts payable 65,150 (76,327) Accrued and other liabilities (15,309) (40,816) Income taxes payable (798) 946 Other changes, net (866) (3,252) Other non-cash adjustments (2,357) (2,487) ------ ------ Total adjustments 88,581 76,788 ------ ------ Net cash provided by (used for) operating activities 79,062 (88,562) Investing activities: Proceeds from (claim on) The Reserve Fund's Primary Fund 2,337 (7,657) Proceeds from redemption of cost basis investment - 7,172 Proceeds from the borrowings against company-owned life insurance policies 12,500 - Change in cash surrender value of company-owned life insurance policies (107) (103) Acquisition of businesses, net of cash acquired - (2,381) Purchase of property and equipment (5,923) (2,603) ------ ------ Net cash provided by (used for) investing activities 8,807 (5,572) Financing activities: Floor plan financing agreement, net (74,159) 75,551 Proceeds from borrowings under credit facility 5,000 - Principal payments under credit facility (5,000) - Principal payment under long-term obligations (206) (47) Issuance of common shares 33 - Debt financing costs (1,520) - Dividends paid (1,360) (1,358) ------ ------ Net cash used for (provided by) financing activities (77,212) 74,146 Effect of exchange rate changes on cash 1,092 (101) ----- ---- Cash flows provided by (used for) continuing operations 11,749 (20,089) Cash flows of discontinued operations: Operating cash flows 204 (29) Investing cash flows - 35 -- -- Net increase (decrease) in cash 11,953 (20,083) Cash at beginning of period 36,244 69,935 ------ ------ Cash at end of period $48,197 $49,852 ======= ======= AGILYSYS, INC. RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA (Unaudited) Three Months Ended Six Months Ended Sep 30, Sep 30, ----------------------- ----------------------- (In thousands) 2009 2008 2009 2008 ---- ---- ---- ---- Net income (loss) $2,836 $(106,589) $(9,560) $(166,624) Plus: Interest expense, net 244 (18) 418 (10) Other income, net 81 (242) (390) (480) Income tax expense (benefit) 988 (8,917) 1,003 (14,080) Depreciation and amortization expense (a) 3,170 7,048 9,498 13,959 Loss from discontinued operations, net of tax 52 1,312 41 1,274 -- --- -- ----- Adjusted EBITDA 7,371 (107,406) 1,010 (165,961) Asset impairment charges - 112,020 - 145,643 Restructuring charges 54 510 68 23,573 -- --- -- ------ Adjusted EBITDA excluding asset impairment and restructuring charges $7,425 $5,124 $1,078 $3,255 ====== ====== ====== ====== (a) Depreciation and amortization expense excludes amortization of deferred finance costs, totaling $132 and $57 for the three months ended Sept. 30, 2009 and 2008, respectively, and totaling $220 and $113 for the six months ended Sept. 30, 2009 and 2008, respectively, as such costs are already included in interest expense, net.

Photo: http://www.newscom.com/cgi-bin/prnh/20030915/AGLSLOGO Agilysys

CONTACT: Investors: Curtis Stout, Vice President and Treasurer,
+1-440-519-8635, curtis.stout@agilysys.com, or Media: Maureen Morreale, Senior
Communications Manager, +1-440-519-8161, maureen.morreale@agilysys.com , both
of Agilysys, Inc.

Web Site: http://www.agilysys.com/

Los Rios Community College District Enhances Learning Experience with Motorola's Wireless LAN SolutionReliable, scalable and easy-to-manage wireless LAN solutions benefit faculty and 80,000 students

SCHAUMBURG, Ill., Nov. 4 /PRNewswire-FirstCall/ -- The Enterprise Mobility Solutions business unit of Motorola, Inc. today announced that the Los Rios Community College District, located in the greater Sacramento area, has deployed Motorola's wireless LAN (WLAN) solutions across its four campuses. Motorola's wireless solutions are delivering cost-effective, reliable and scalable coverage to enhance classroom lectures and enable access to online resources from both indoor and outdoor locations across the district's colleges.

"Our colleges seek to provide outstanding programs and services, and by offering Wi-Fi access, students can take advantage of vast online resources to easily access lecture notes, register for classes or conduct research for assignments," said Mark Williams, Network Architect, Los Rios Community College District. "The network has also become the primary connection point for Internet access especially in older buildings and portables, leading our IT department to think about wireless by default and wired as needed."

As the second largest community college district in California with nearly 80,000 students enrolled across its colleges, the Los Rios Community College District serves a diverse population looking to meet undergraduate requirements, learn technical skills and acquire various certifications. Given the number of students enrolled, the district wanted to provide a reliable, high-performance network that could accommodate the increasing use of notebook computers and wireless devices across the campuses. In addition, the district wanted to reduce labor costs associated with Ethernet drops in portables and older buildings by relying on the wireless network to provide connectivity. To achieve these goals, the IT staff selected Motorola's WLAN solutions for their unparalleled resiliency and flexibility to meet the current and future needs of the colleges, including the ability to extend to the farthest edges of each campus.

To fulfill the district's goal to provide easy access to information and meeting the individual connectivity needs of each college campus, Motorola's WLAN solutions have been deployed across all buildings, outdoor areas and sport venues. Los Rios uses Motorola's 802.11a/b/g AP300 access ports and 802.11n adaptive AP-7131 access points, managed by the award-winning RFS6000 and WS5100 wireless switches. The college also uses the mesh functionality of the AP-7131 to connect distant buildings when Ethernet is not practical due to needs for temporary connectivity or when digging a trench is cumbersome and/or cost-prohibitive. In total, the college has more than 300 access points across all four campuses and administration buildings.

Motorola's 802.11n wireless solutions are effective for large campus deployments as the adaptive architecture has built-in intelligence in the access points that increase scalability versus centralized architectures. For example, in a classroom setting when a teacher shares a video with students over the wireless network, the traffic is bridged locally to student laptops minimizing the impact on the wired network.

The result is a seamless, all-wireless campus solution that delivers high-speed Internet access to the colleges and is free to students. For faculty, Los Rios offers a secure wireless connection, which in some older buildings has become the only Internet connection in the classroom, enabling instructors to employ multimedia presentations with streaming video into lesson plans. In addition, faculty can easily update online grade systems and student information while in the classroom.

"Los Rios' wireless deployment offers the high performance and reliability that community colleges require to meet the demands of students while also offering IT staff the flexibility to extend network connections when needed," said Sujai Hajela, vice president and general manager for Enterprise Wireless LAN, Motorola Enterprise Mobility Solutions. "Motorola has the expertise and wireless networking solutions to meet virtually any wireless networking challenge, helping educational institutions like Los Rios serve the needs and goals of their communities."

Revenue relating to this transaction has been recorded in previous periods.

To learn more about how Motorola's solutions are helping colleges and universities enhance the learning experience for students, please visit Motorola (Booth #1050) at the EDUCAUSE 2009 conference in Denver, Colorado on November 3-5, 2009.

Motorola delivers seamless connectivity that puts real-time information in the hands of users, which gives customers the agility they need to grow their business or better serve and protect the public. Working seamlessly together with its world-class devices, Motorola's unrivaled wireless network solutions include indoor wireless LAN, outdoor wireless mesh, point-to-multipoint, point-to-point networks and voice-over-WLAN solutions. Combined with powerful software tools for wireless network design, best-of-breed security, management and troubleshooting, Motorola's solutions deliver trusted networking and access anywhere to organizations across the globe.

About Motorola

Motorola is known around the world for innovation in communications and is focused on advancing the way the world connects. From broadband communications infrastructure, enterprise mobility and public safety solutions to high-definition video and mobile devices, Motorola is leading the next wave of innovations that enable people, enterprises and governments to be more connected and more mobile. Motorola had sales of US $30.1 billion in 2008. For more information, please visit http://www.motorola.com/.

Media Contact: Bart Lipinski Motorola Enterprise Mobility Solutions +1 847-576-6931 bart.lipinski@motorola.com Analyst Contact: Shirley Schroedl Motorola Enterprise Mobility Solutions +1 631-738-4823 shirley.schroedl@motorola.com

MOTOROLA and the Stylized M Logo are registered in the US Patent & Trademark Office. All other product or service names are the property of their respective owners. © Motorola, Inc. 2009. All rights reserved.

Photo: http://www.newscom.com/cgi-bin/prnh/20020415/MOTNOTAGLOGO
http://www.newscom.com/cgi-bin/prnh/20020307/MOTLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Motorola, Inc.

CONTACT: Media, Bart Lipinski, +1-847-576-6931,
bart.lipinski@motorola.com, or Analyst, Shirley Schroedl, +1-631-738-4823,
shirley.schroedl@motorola.com, both of Motorola Enterprise Mobility Solutions

Web Site: http://www.motorola.com/

Memorial Hospital at Gulfport Selects Allscripts Electronic Health Record, Practice Management and Revenue Cycle Management for 100 PhysiciansMississippi Health System will connect EHR to Mississippi Coast Health Information Exchange (MSCHIE)

CHICAGO and GULFPORT, Miss., Nov. 4 /PRNewswire-FirstCall/ -- Allscripts announced today that Memorial Hospital at Gulfport has selected the Company's Electronic Health Record (EHR) and Practice Management (PM) solution, with Allscripts Revenue Cycle Management, to enhance the quality of the care delivered by its 100 employed physicians, improve patient communications, and better manage the cost of care delivery.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081013/AQM041LOGO)

Memorial Hospital at Gulfport is the largest healthcare provider in the Gulfport , located 70 miles east of New Orleans, is one of the largest healthcare providers on the Mississippi Gulf Coast. Among the most comprehensive medical facilities in Mississippi, Memorial is a not-for-profit 445-bed facility with 30 owned physician clinics, a medical staff of 275 physicians and a long history of investing in technology. Memorial is rated a Stage 5 hospital on the HIMSS Adoption scale, placing it in the top 5 percent of US hospitals for the use of information technologies to maximize patient safety.

"Our strategy of sustained investment in IT on the inpatient side has been crucial to becoming a leader in quality, patient safety and patient satisfaction, and we believe Allscripts will help us extend our delivery of high quality healthcare to the outpatient arena," said Richard Ferrans, MD, Vice President and Medical Information Officer of Memorial Hospital.

The Allscripts Electronic Health Record enables Memorial's physicians to instantly access patient information when and where they need it - in the clinic, at the hospital or while on-call at home -- and automates everyday clinical tasks such as prescribing medications, documenting patient visits and obtaining best-practice guidelines for care.

Ferrans said he is excited at the prospect of connecting the Electronic Health Record with the Mississippi Coast Health Information Exchange (MSCHIE) a state program that is focused on enhancing healthcare infrastructure in Gulf Coast counties that were devastated by Hurricane Katrina in August 2005. Memorial is a founding member of the HIE, which will enable the hospital's physicians to share and access secure, aggregated patient clinical information from IT systems in physician offices, hospitals and other care sites 24 hours a day.

"We believe it's critical to connect our community of physicians to the HIE, to enhance the overall continuity of care, reduce costs, and ensure that up-to-date information is securely available to share between all providers on the Coast," said Ferrans.

Within the Memorial community, the Allscripts Electronic Health Record will give Memorial's physicians a dashboard view of key clinical measures including alerts when lab results and other data indicate a health threat, either to an individual patient or across the entire patient population. "Allscripts will help us understand better the needs of our patients so we can better plan our resources and effective interventions to improve the quality of our care," said Ferrans.

Memorial will provide its physicians with Allscripts Practice Management and Revenue Cycle Management solutions, which are used by thousands of physician groups across the U.S. to process more than 260 million claims annually and 500 million revenue cycle management transactions. The Allscripts Practice Management solution with integrated Revenue Cycle Management combines billing and scheduling with integrated claims, remittance and eligibility capabilities in a single package.

"We want to empower our physicians by giving them the tools they need to run their clinics more effectively and drive greater patient satisfaction," said Ferrans. "From a business perspective, this lets us take 30 different clinics and put them all on a common business platform for scheduling, workflow, and billing, and that will really help the clinics run more efficiently."

Glen Tullman, Chief Executive Officer of Allscripts, commented, "Memorial Hospital has set itself apart as a leader in the Gulf Coast by strategically using information technology to not only automate their own physicians and provide them with better information but also to connect them to the broader community of caregivers for improved health outcomes through the Mississippi Coast Health Information Exchange. By partnering with Allscripts, Memorial is encouraging more widespread and rapid adoption of technologies that will ultimately lead to better care for the Gulf Coast's patients and more productive and informed interactions for physicians."

About Memorial Hospital at Gulfport

Memorial Hospital at Gulfport ranks among the leading medical/surgical facilities in Mississippi. The not-for-profit, 445-bed, multi-specialty health system provides quality care regardless of a patient's ability to pay. Medical specialties include cardiovascular sciences, comprehensive medical rehabilitation, a child and adolescent behavioral health inpatient program, 14 school-based clinics, physician clinics, NICU, and a mobile immunization van. Memorial offers three-dimensional imaging, electronic medical records, a neuroscience center of excellence and advanced surgical techniques, including CyberKnife.® Located just 0.6 miles from the Mississippi coastline, Memorial stood strong during Hurricane Katrina, the worst natural disaster in U.S. history. Memorial implemented a well-rehearsed disaster plan before, during and after the storm and was able to provide uninterrupted medical and emergency services.

In September 2007, The Joint Commission certified Memorial as Mississippi's first Primary Stroke Center. This designation means a stroke patient can receive the highest level of stroke treatment available anywhere in the nation. Memorial Inpatient Rehabilitation unit is accredited by the Commission on Accreditation of Rehabilitation Facilities (CARF) and is a certified Stroke Specialty program.

With more than 2,900 employees and more than 275 highly skilled physicians, Memorial is one of the top 10 employers on the Mississippi Gulf Coast. Heading into the future guided by its mission statement "building a healthier community," Memorial remains steadfastly committed to improving patient care at every level - quality and safety, technology and medical expertise.

About Allscripts

Allscripts uses innovation technology to bring health to healthcare. More than 160,000 physicians, 800 hospitals and nearly 8,000 post-acute and homecare organizations utilize Allscripts to improve the health of their patients and their bottom line. The company's award-winning solutions include electronic health records, electronic prescribing, revenue cycle management, practice management, document management, hospital care management, emergency department information systems and homecare automation. Allscripts is the brand name of Allscripts-Misys Healthcare Solutions, Inc. To learn more, visit http://www.allscripts.com/.

For more Allscripts news, follow us on Twitter at: http://twitter.com/AllscriptsMisys

This news release may contain forward-looking statements within the meaning of the federal securities laws. Statements regarding future events, developments, the Company's future performance, as well as management's expectations, beliefs, intentions, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. These forward-looking statements are subject to a number of risks and uncertainties, some of which are outlined below. As a result, actual results may vary materially from those anticipated by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: the volume and timing of systems sales and installations; length of sales cycles and the installation process; the possibility that products will not achieve or sustain market acceptance; the timing, cost and success or failure of new product and service introductions, development and product upgrade releases; competitive pressures including product offerings, pricing and promotional activities; our ability to establish and maintain strategic relationships; undetected errors or similar problems in our software products; compliance with existing laws, regulations and industry initiatives and future changes in laws or regulations in the healthcare industry; possible regulation of the Company's software by the U.S. Food and Drug Administration; the possibility of product-related liabilities; our ability to attract and retain qualified personnel; our ability to identify and complete acquisitions, manage our growth and integrate acquisitions; the ability to recognize the benefits of the merger with Misys Healthcare Systems, LLC ("MHS"); the integration of MHS with the Company and the possible disruption of current plans and operations as a result thereof; maintaining our intellectual property rights and litigation involving intellectual property rights; risks related to third-party suppliers; our ability to obtain, use or successfully integrate third-party licensed technology; breach of our security by third parties; and the risk factors detailed from time to time in our reports filed with the Securities and Exchange Commission, including our 2009 Annual Report on Form 10-K available through the Web site maintained by the Securities and Exchange Commission at http://www.sec.gov/. The Company undertakes no obligation to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise.

Photo: http://www.newscom.com/cgi-bin/prnh/20081013/AQM041LOGO
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PRN Photo Desk, photodesk@prnewswire.com Allscripts-Misys Healthcare Solutions, Inc.

CONTACT: Dan Michelson, Chief Marketing Officer, +1-312-506-1217,
dan.michelson@allscripts.com, or Seth Frank, Vice President, Investor
Relations, +1-312-506-1213, seth.frank@allscripts.com, or Todd Stein,
Senior Manager/Public Relations, +1-312-506-1216, todd.stein@allscripts.com,
all of Allscripts; or Diane Gallagher, Vice President of Marketing and
Planning of Memorial Hospital , +1-228-867-5292, dgallagh@mhg.com

Web Site: http://www.allscripts.com/

ATK and BAE Systems Team Awarded $32.2 Million Contract to Develop Joint Allied Threat Awareness System (JATAS) for U.S. Navy and U.S. Marine Corps AircraftATK and BAE Systems to Begin 16 Month Technical Demonstration Phase Immediately Work to be Performed at ATK's Woodland Hills, California and Clearwater, Florida Facilities and BAE Systems' Nashua, New Hampshire Facility

MINNEAPOLIS, Nov. 4 /PRNewswire-FirstCall/ -- Alliant Techsystems and BAE Systems announced they have been awarded a $32.2 million contract to develop the Joint Allied Threat Awareness System (JATAS). JATAS is the next-generation missile warning system that will provide protection for U.S. Navy and U.S. Marine Corps helicopter and tilt-wing aircraft. The ATK and BAE Systems team was one of two industry teams selected to execute the JATAS Technology Demonstration (TD) phase, scheduled for 16 months. This phase will culminate in flight demonstrations of prototype systems and a final down-select award by the Navy. Work on the contract will be performed in ATK's Woodland Hills, California and Clearwater, Florida facilities and at BAE Systems' facility in Nashua, New Hampshire.

As the manufacturers of the AAR-47 and AAR-57 missile warning systems, respectively, ATK and BAE Systems bring experience from over 5,000 rotary-wing threat warning installations that span the U.S. military as well as several allied nations. The ATK and BAE missile warning systems have protected aircraft in Iraq and Afghanistan from Man-Portable Air Defense Systems (MANPADS), known more familiarly as shoulder-fired missiles.

The JATAS system will protect aircrews from MANPADS, and also detect laser-guided weapons and hostile fire from small arms and rockets. JATAS is synthesized in an open architecture design that allows easy updates with other self-protection functions in the future. For example, the current expendable countermeasure can be augmented by a directable, infrared countermeasure (DIRCM) using existing interfaces.

"ATK and BAE Systems have developed and fielded combat-proven systems which have saved dozens of aircraft and their crews from hostile fire," said Bill Kasting, vice president and general manager of ATK's Integrated Systems division. "Our JATAS team brings together the best capabilities of our industry to develop an affordable, innovative and more capable system that aircrews can trust with their lives when flying in harm's way."

"The team is committed to providing the best protection available to Navy and Marine aircrews," said Jim Crouch, vice president and general manager of Survivability & Protection Solutions at BAE Systems. "The entire team brings a rich blend of competencies in electronic warfare, and we're poised to execute this important program for the warfighter."

Other members of the JATAS industry team include DRS, Goodrich, and Symetrics.

About ATK

ATK is a premier aerospace and defense company with more than 18,000 employees in 22 states, Puerto Rico and internationally, and revenues of approximately $4.8 billion. News and information can be found on the Internet at http://www.atk.com/.

About BAE Systems

BAE Systems is a premier global defense, security and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services. With approximately 105,000 employees worldwide, BAE Systems' sales exceeded pounds Sterling 18.5 billion (US $34.4 billion) in 2008.

Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: changes in governmental spending, budgetary policies and product sourcing strategies; assumptions related to the capabilities of the ATK/BAE teaming relationship and the challenges of developing next-generation missile warning technologies; the companies' competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.

ATK Media Contact: ATK Investor Contact: Rod Gibbons Jeff Huebschen Phone: 410-864-4932 Phone: 952-351-2929 E-mail: rod.gibbons@atk.com E-mail: jeff.huebschen@atk.com

Alliant Techsystems

CONTACT: Media, Rod Gibbons, +1-410-864-4932, rod.gibbons@atk.com, or
investors, Jeff Huebschen, +1-952-351-2929, jeff.huebschen@atk.com

Web Site: http://www.atk.com/

New MoGo Talk Headsets Utilize Broadcom(R) Bluetooth(R) Technology for Trailblazing Designs while Maximizing User ConvenienceBroadcom's Headset Technology Delivers the Low Power, Small Footprint Size and Superior Audio Performance Needed for Innovative Bluetooth Headsets

IRVINE, Calif., Nov. 4 /PRNewswire-FirstCall/ -- Broadcom Corporation , a global leader in semiconductors for wired and wireless communications, today announced that Newton Peripherals, maker of the innovative MoGo Mouse, has selected Broadcom's Bluetooth® technology for the new MoGo Talk headset. MoGo Talk is a unique, next generation wireless headset that can be stored and recharged within the plastic bodies of notebook PCs and cellular handsets. Current MoGo Talk designs support the Apple iPhone, two popular BlackBerry devices (the Curve and the Javelin) and a host of notebook PCs with voice over IP (VoIP) capabilities. Based on Broadcom® Bluetooth technology, Newton will continue to add popular phones to its list of devices supported by MoGo Talk.

Highlights/Key Facts: -- The Newton MoGo Talk product exemplifies the trend toward more integrated and imaginative form factors for Bluetooth headset products, delivering great performance in a user-friendly package. -- Broadcom headset technology enables superior audio quality, low power and small size to provide device makers with the flexibility to develop popular products that are designed around how end users will experience them. -- Broadcom is leveraging its position as a leading Bluetooth supplier for cellular handset, PC/peripheral and human interface device (HID) products to further drive innovation in the headset segment. -- Included in its offering is Broadcom's popular SmartAudio® sound and voice enhancement technology. SmartAudio provides the following benefits: -- Significantly improved audio quality in noisy environments by reducing background noise and unwanted acoustic echo while also improving the wireless range of headset connections. -- Near-end speech enhancements that automatically adjust volume level for the headset user when moving in and out of noisy environments -- Dynamic wind noise reduction algorithms that drastically improve the audio quality in a windy environments. -- Broadcom's unique packet loss concealment (PLC) that compensates for lost data while delivering clearer digital voice communications. -- The SmartAudio platform works in conjunction with Broadcom's Bluetooth software, which is widely used in mobile phones and PCs, ensuring that interoperability with Bluetooth audio sources has been widely tested and field proven. -- Broadcom has shipped over one billion Bluetooth products and offers the broadest family of Bluetooth silicon and software solutions for mobile phones, PCs, wireless headphones and headsets, peripherals, gaming and other applications. -- Broadcom Bluetooth headset solutions are gaining recognition as the technology of choice for innovative, high volume headset products, and the world's largest manufacturers of consumer electronics, mobile phones and personal computer products rely on Broadcom Bluetooth technology to provide their customers with a unique, intuitive and rich user experience, increasingly free of wires and cables. -- Click here to watch a video demo of Broadcom's latest headset innovations. http://www.youtube.com/BroadcomCorporation#p/u/0/e4ziB3X6wUI Supporting Quotes: Stuart Nixdorff, CEO of Newton Peripherals

"The MoGo family of mobile interface devices requires advanced Bluetooth solutions that can accommodate ultra-thin form factors, while still delivering a highly satisfying user experience. Broadcom is a strong partner for Newton Peripherals to integrate with as we continue to see broad adoption of MoGo Talk in the Bluetooth headset market," said Stuart Nixdorff, CEO of Newton Peripherals. "The integration of Broadcom's SmartAudio technology means that MoGo Talk headsets can effectively identify and filter out bothersome noise, improving audio quality and ensuring crisp and clear voice calls."

Craig Ochikubo, Vice President & General Manager, Wireless Personal Area Networking, Broadcom's Wireless Connectivity Group

"Our continued pursuit of technology superiority in the Bluetooth headset segment has resulted in innovative designs with some of the industry's leading makers of headset products. We are pleased that our Bluetooth silicon and software provides the design flexibility and audio quality required to enable innovative designs like Newton's MoGo Talk."

Subscribe to RSS Feed: Broadcom Wireless Connectivity Group About Broadcom

Broadcom Corporation is a major technology innovator and global leader in semiconductors for wired and wireless communications. Broadcom products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment. We provide the industry's broadest portfolio of state-of-the-art system-on-a-chip and software solutions to manufacturers of computing and networking equipment, digital entertainment and broadband access products, and mobile devices. These solutions support our core mission: Connecting everything®.

Broadcom is one of the world's largest fabless semiconductor companies, with 2008 revenue of $4.66 billion, and holds over 3,650 U.S. and over 1,450 foreign patents, more than 7,750 additional pending patent applications, and one of the broadest intellectual property portfolios addressing both wired and wireless transmission of voice, video, data and multimedia.

A FORTUNE 500® company, Broadcom is headquartered in Irvine, Calif., and has offices and research facilities in North America, Asia and Europe. Broadcom may be contacted at +1.949.926.5000 or at http://www.broadcom.com/.

Cautions regarding Forward Looking Statements:

All statements included or incorporated by reference in this release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. Examples of such forward-looking statements include, but are not limited to, the functionality and demand for Bluetooth headsets, our position in that market, and references to Newton's use of Broadcom technology in future products. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.

Important factors that may cause such a difference for Broadcom in connection with the Bluetooth headset silicon and software, but are not limited to:

-- the rate at which our present and future customers and end-users adopt Broadcom's Bluetooth technologies for wireless headset applications; -- trends in the wireless networking markets in various geographic regions, including seasonality in sales of consumer products into which our products are incorporated, and possible disruption in commercial activities related to terrorist activity or armed conflict in the United States and other locations; -- the gain or loss of a key customer, design win or order; -- the volume of our product sales and pricing concessions on volume sales; -- our ability to timely and accurately predict market requirements and evolving industry standards and to identify opportunities in new markets; and -- competitive pressures and other factors such as the qualification, availability and pricing of competing products and technologies and the resulting effects on sales and pricing of our products.

Additional factors that may cause Broadcom's actual results to differ materially from those expressed in forward-looking statements include, but are not limited to the list that can be found at http://www.broadcom.com/press/additional_risk_factors/Q42009.php.

Our Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss the foregoing risks as well as other important risk factors that could contribute to such differences or otherwise affect our business, results of operations and financial condition. The forward-looking statements in this release speak only as of this date. We undertake no obligation to revise or update publicly any forward-looking statement, except as required by law.

Broadcom, the pulse logo, Connecting everything, the Connecting everything logo and SmartAudio® are among the trademarks of Broadcom Corporation and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.

Broadcom Trade Press Contact Broadcom Investor Relations Contact Henry Rael T. Peter Andrew Public Relations Manager Vice President, Corporate Communications 949-926-5734 949-926-5663 hrael@broadcom.com andrewtp@broadcom.com

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PRN Photo Desk, photodesk@prnewswire.com Broadcom Corporation; BRCM Mobile & Wireless

CONTACT: Trade Press, Henry Rael, Public Relations Manager,
+1-949-926-5734, hrael@broadcom.com, or Investor Relations, T. Peter Andrew,
Vice President, Corporate Communications, +1-949-926-5663,
andrewtp@broadcom.com, both of Broadcom Corporation

Web Site: http://www.broadcom.com/

GuildMaster dba Decorize, Inc. Posts Fiscal Year ProfitGross Margins Improve 650 basis points

SPRINGFIELD, Mo., Nov. 4 /PRNewswire-FirstCall/ -- Decorize, Inc. a recognized leader in the home furnishings and accessories industry announced its fiscal year 2009 results.

The Company posted a full year profit for the first time in the history of the Company. The Company posted record operating income of $307,000 versus $15,000 a year ago and net income of $9,000 for its fiscal year ended June 30, 2009 versus a net loss of $585,000 last fiscal year. Gross margins were up 650 basis points from 34.4% a year ago to 40.9% for fiscal year 2009.

"The Decorize team achieved these phenomenal results in an extremely challenging economic climate," said Decorize Board of Directors member Rick Chalker. "The home furnishings industry has been hit hard by the recent drop in consumer spending. Posting record earnings during these challenging times is a testament to the Company's management and vertically integrated business model."

"Our vertically integrated design, production and logistics model, including our wholly-owned manufacturing facilities in Indonesia and China, allows us to stay ahead of the curve and react more quickly to changing business environments than our competitors," said President and Chief Executive Officer Steve Crowder. "Additionally, we have been able to substantially reduce manufacturing and logistics costs by maintaining our own overseas production facilities which has lead to significant increases in our gross margins over the past several years."

"Even more impressive than our fiscal year 2009 results is the fact that the recently concluded High Point Market was the Company's most successful market ever," said Chief Financial Officer Dan Graham. "While we are extremely pleased with fiscal year 2009, we are poised for even better results in fiscal year 2010. Our fiscal year 2010 plan calls for operating income of more than double that of 2009. Our results for the first quarter ended September 30, 2009 show that we are right on target to meet our fiscal year 2010 plan."

About GuildMaster

GuildMaster, Inc. specializes in designing, manufacturing and delivering the finest premium home accents directly from its production facilities in Indonesia and China to retailers across the U.S. The company has developed a vertically integrated design, sourcing and logistics model that reduces costs traditionally channeled into home furnishings. This model allows the company to remain on the leading edge of the market by identifying trends and developing product significantly faster than others. Because of its vertical integration, GuildMaster is able to serve its customers with shortened delivery times for custom orders. GuildMaster serves more than 3,000 retail accounts, including national brand names such as Neiman Marcus, May/Federated Stores, Rooms To Go, Broyhill Furniture Industries, Dillards, OfficeMax, Home Depot, and Sears-The Great Indoors. For more information, visit the GuildMaster web site at http://www.guildmaster.com/ or on facebook at http://www.facebook.com/pages/GuildMaster-on-Tour/47980244486

Safe Harbor

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements about the future performance of GuildMaster, economic trends, and other forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including and without limitation, continued acceptance of GuildMaster's products, increased levels of competition for the company, new products and technological changes, GuildMaster's dependence on third-party suppliers, and other risks. GuildMaster provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release.

Contact GuildMaster, Inc. Steve Crowder, CEO (417) 879-3326 s.crowder@guildmaster.com

Decorize, Inc.

CONTACT: Steve Crowder, CEO of GuildMaster, Inc., +1-417-879-3326,
s.crowder@guildmaster.com

Web Site: http://www.decorize.com/

Devon Energy Earns $499 Million on Increased Third-Quarter Oil and Gas Production and Lower Costs

OKLAHOMA CITY, Nov. 4 /PRNewswire-FirstCall/ -- Devon Energy Corporation today reported net earnings of $499 million for the quarter ended September 30, 2009, or $1.13 per common share ($1.12 per diluted common share). For the quarter ended September 30, 2008, Devon reported net earnings of $2.6 billion, or $5.93 per common share ($5.88 per diluted common share).

Production of oil, natural gas and natural gas liquids increased six percent to 61.9 million oil-equivalent barrels (Boe) in the third quarter of 2009. Costs in nearly every expense category were lower in the third quarter of 2009 compared with the same period in the previous year. Strong production growth and lower overall costs were more than offset by significantly lower product prices.

For the nine months ended September 30, 2009, Devon reported a net loss of $3.1 billion, or $7.09 per common share ($7.09 per diluted common share). A $4.2 billion non-cash, after-tax reduction in the carrying value of oil and gas properties in the first quarter of 2009 drove the year-to-date loss. For the nine months ended September 30, 2008, the company reported net earnings of $4.7 billion, or $10.50 per common share ($10.40 per diluted common share).

"Year to date, Devon increased oil and gas production eight percent compared with 2008," commented President John Richels. "The performance of the company's oil and gas properties has continued to exceed our expectations throughout 2009."

Minimal Impact from Items Not Estimated by Analysts

Devon's third-quarter 2009 financial results were increased slightly by the net effects of items securities analysts typically exclude from their published estimates. Excluding the adjusting items, Devon earned $491 million or $1.10 per diluted common share in the third quarter of 2009. The adjusting items are discussed in more detail later in this news release.

Companywide Production Increased

Combined oil, gas and natural gas liquids production averaged 673 thousand Boe per day in the third quarter of 2009. This is the highest third-quarter production in Devon's history and a six percent increase compared with the third quarter of 2008.

Each of Devon's operating segments contributed to the production growth. Growth in oil and natural gas liquids production in the United States was greater than the decline in natural gas volumes. The continuing ramp up of volumes at the Jackfish oil sands project led Canadian oil production growth. Canadian natural gas production also increased, principally due to lower government royalties. Canadian royalties are calculated on a sliding scale. Therefore, at lower product prices, a producer's share of Canadian gas production increases.

Sequentially, average daily oil and gas production in the third quarter decreased six percent when compared with 719 thousand Boe per day produced in the second quarter of 2009. The decrease is attributable to voluntary reductions, planned maintenance downtime and natural declines.

Revenues from oil, gas and natural gas liquids sales decreased 54 percent to $1.7 billion in the third quarter of 2009 compared with the third quarter of 2008. Significantly lower product prices more than offset the growth in natural gas and liquids production.

Other income, net of expenses, increased 17 percent to $96 million in the third quarter of 2009. This amount includes an $84 million accrual reversal resulting from a favorable federal court ruling pertaining to royalties in the deepwater Gulf of Mexico. For the third quarter of 2008, other income included $57 million of hurricane damage-related insurance recoveries.

Haynesville Shale Success Leads Operational Highlights

Devon drilled 233 wells in the third quarter of 2009 compared with 636 wells drilled in the third quarter of 2008. In both periods, approximately 97 percent of the wells were successful. In spite of significantly reduced drilling activity in 2009, Devon achieved several notable operational accomplishments in the third quarter:

-- In the third quarter of 2009 Devon commenced completion operations on its first Haynesville Shale well to be drilled in San Augustine County, Texas. The Kardell Gas Unit 1H flowed at an average continuous 24-hour rate of 30.7 million cubic feet of natural gas equivalent per day. Devon operates the well with a 48 percent working interest. -- The company is currently drilling another well on its east Texas Haynesville Shale acreage. This well is located in Shelby County, northwest of the Kardell well. -- Also in the third quarter, Devon added two operated drilling rigs at its Cana Woodford Shale play in western Oklahoma. The company commenced production from eight additional Cana wells in the quarter, bringing its net production in the play to 53 million cubic feet of gas equivalent per day. -- Following scheduled facilities maintenance in the third quarter, Devon has resumed ramping up production from its 100 percent-owned Jackfish oil sands project in Alberta. Currently, Jackfish is producing approximately 31,000 barrels of oil per day and is expected to reach its facilities-design capacity of 35,000 barrels per day by year end. -- Construction of the second phase of the Jackfish project, Jackfish 2, passed the 50 percent completion milestone in the third quarter. Devon expects Jackfish 2, which is also sized to produce 35,000 barrels per day, to commence steam injection in 2011. -- Devon completed evaluation of a third phase of the Jackfish project in the third quarter. The company plans to file a regulatory application for Jackfish 3 in 2010. In aggregate, the three phases of Jackfish are expected to produce more than 100,000 barrels of oil per day from approximately 900 million barrels of recoverable resource. -- In the Gulf of Mexico, Devon has encountered an encouraging oil column in an appraisal well on the Lower Tertiary Kaskida prospect. The company is now evaluating options including a possible side-track of the well. Devon has a 30 percent working interest in Kaskida. Costs Decline in Most Expense Categories

Devon continued to report favorable cost comparisons in the third quarter of 2009 versus the year-ago quarter. The company reduced lease operating expenses (LOE) 15 percent, to $505 million. Unit LOE decreased by an even greater 19 percent to $8.16 per Boe, reflecting both lower absolute costs and increased production volumes.

Compared with the third quarter of 2008, depreciation, depletion and amortization (DD&A) of oil and gas properties decreased 39 percent to $480 million. Unit DD&A decreased by 42 percent to $7.75 per Boe in the third quarter of 2009.

The company also reduced general and administrative expenses (G&A) in the most recent quarter. G&A decreased by seven percent to $137 million.

Interest expense increased by 30 percent to $90 million compared with the third quarter of 2008. The increase results from a larger debt balance.

Income Taxes Reduced by Adjustments

Third-quarter 2009 income tax expense was reduced by $121 million attributable to four separate adjustments. These tax adjustments are presented in the table below listing the effects of items typically excluded by securities analysts in published estimates.

Maintaining Financial Strength

Cash flow before balance sheet changes reached $1.2 billion in the third quarter of 2009. This cash flow fully funded total capital investments and generated $168 million of free cash flow in the quarter. Devon exited the third quarter with more than $900 million of cash on hand and $1.9 billion of unused credit facilities.

At September 30, 2009, net debt to adjusted capitalization was 31 percent. Reconciliations of cash flow before balance sheet changes, free cash flow, net debt and adjusted capitalization, which are non-GAAP measures, are provided in this news release.

Items Excluded from Published Earnings Estimates

Devon's reported net earnings include items of income and expense that are typically excluded by securities analysts in their published estimates of the company's financial results. These items and their effects upon reported earnings for the third quarter of 2009 were as follows:

Items affecting continuing operations- -- A change in the fair value of oil and natural gas derivative instruments decreased third-quarter earnings by $104 million pre-tax ($67 million after tax). -- A change in the fair value of other financial instruments decreased third-quarter earnings by $9 million pre-tax ($6 million after tax). -- Income tax accrual adjustments increased third-quarter earnings by $59 million. -- Income tax benefits related to unsuccessful international drilling increased third-quarter earnings by $22 million.

The following table summarizes the effects of these items on third-quarter earnings and income taxes.

Summary of Items Typically Excluded by Securities Analysts (in millions) Quarter Ended September 30, 2009 Continuing Operations Cash Flow Before After Balance Pre-tax Income Tax Effect tax Sheet Earnings -------------------------- Earnings Changes Effect Current Deferred Total Effect Effect ------ ------- -------- ----- ------ ------ Change in fair value of oil and gas derivative instruments $(104) - (37) (37) (67) - Change in fair value of other financial instruments (9) - (3) (3) (6) - Income tax accrual adjustment - (9) (50) (59) 59 9 Income tax benefits on international drilling - (22) - (22) 22 22 ----- --- --- ---- --- --- Totals $(113) (31) (90) (121) 8 31 ----- --- --- ---- --- ---

In aggregate, these items increased third-quarter 2009 net earnings by $8 million, or two cents per common share (two cents per diluted share). These items and their associated tax effects increased third-quarter 2009 cash flow before balance sheet changes by $31 million.

Conference Call to be Webcast Today

Devon will discuss its third-quarter 2009 financial and operating results in a conference call webcast today. The webcast will begin at 10 a.m. Central Time (11 a.m. Eastern Time). The webcast may be accessed from Devon's internet home page at http://www.devonenergy.com/.

This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission. Such statements are those concerning strategic plans, expectations and objectives for future operations. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Statements regarding future drilling and production are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. These risks include, but are not limited to the volatility of oil, natural gas and NGL prices; uncertainties inherent in estimating oil, natural gas and NGL reserves; drilling risks; environmental risks; and political or regulatory changes. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date of this press release, even if subsequently made available by Devon on its website or otherwise. Devon does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. This release may contain certain terms, such as resource potential, reserve potential, probable reserves, possible reserves and exploration target size. The SEC guidelines strictly prohibit us from including these terms in filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-K, File No. 001-32318, available from us at Devon Energy Corporation, Attn. Investor Relations, 20 North Broadway, Oklahoma City, OK 73102. You can also obtain this form from the SEC by calling 1-800-SEC-0330.

Devon Energy Corporation is an Oklahoma City-based independent energy company engaged in oil and gas exploration and production. Devon is the largest U.S.-based independent oil and gas producer and is included in the S&P 500 Index. For more information about Devon, please visit our website at http://www.devonenergy.com/.

DEVON ENERGY CORPORATION UNAUDITED FINANCIAL AND OPERATIONAL INFORMATION PRODUCTION (net of royalties) Quarter Ended Nine Months Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Total Period Production ----------------------- Natural Gas (Bcf) U.S. Onshore 171.7 172.1 535.9 486.9 U.S. Offshore 12.2 12.5 33.5 45.0 ---- ---- ---- ---- Total U.S. 183.9 184.6 569.4 531.9 Canada 58.5 53.8 171.3 158.5 International 0.4 0.5 1.0 1.5 ------------- --- --- --- --- Total Natural Gas 242.8 238.9 741.7 691.9 ----------------- ----- ----- ----- ----- Oil (MMBbls) U.S. Onshore 2.8 2.6 8.6 8.3 U.S. Offshore 1.5 1.3 3.8 4.9 --- --- --- --- Total U.S. 4.3 3.9 12.4 13.2 Canada 5.8 5.5 18.7 15.4 International 3.7 2.7 11.6 10.8 ------------- --- --- ---- ---- Total Oil 13.8 12.1 42.7 39.4 --------- ---- ---- ---- ---- Natural Gas Liquids (MMBbls) U.S. Onshore 6.6 5.5 19.2 17.1 U.S. Offshore 0.1 0.1 0.5 0.5 --- --- --- --- Total U.S. 6.7 5.6 19.7 17.6 Canada 0.9 1.0 2.8 3.0 International - - - - ------------- --- --- --- --- Total Natural Gas Liquids 7.6 6.6 22.5 20.6 ------------------------- --- --- ---- ---- Oil Equivalent (MMBoe) U.S. Onshore 37.9 36.8 117.1 106.5 U.S. Offshore 3.7 3.5 9.9 12.9 --- --- --- ---- Total U.S. 41.6 40.3 127.0 119.4 Canada 16.5 15.5 50.1 44.8 International 3.8 2.8 11.8 11.1 ------------- --- --- ---- ---- Total Oil Equivalent 61.9 58.6 188.9 175.3 -------------------- ---- ---- ----- ----- Average Daily Production ------------------------ Natural Gas (MMcf) U.S. Onshore 1,865.9 1,871.0 1,963.0 1,777.1 U.S. Offshore 133.1 135.9 122.7 164.3 ----- ----- ----- ----- Total U.S. 1,999.0 2,006.9 2,085.7 1,941.4 Canada 635.8 584.9 627.4 578.4 International 4.2 5.6 3.6 5.4 ------------- --- --- --- --- Total Natural Gas 2,639.0 2,597.4 2,716.7 2,525.2 ----------------- ------- ------- ------- ------- Oil (MBbls) U.S. Onshore 30.3 28.8 31.8 30.2 U.S. Offshore 16.4 13.8 13.8 17.9 ---- ---- ---- ---- Total U.S. 46.7 42.6 45.6 48.1 Canada 62.8 59.3 68.4 56.3 International 40.9 29.7 42.6 39.6 ------------- ---- ---- ---- ---- Total Oil 150.4 131.6 156.6 144.0 --------- ----- ----- ----- ----- Natural Gas Liquids (MBbls) U.S. Onshore 71.0 59.7 70.2 62.4 U.S. Offshore 1.4 1.1 1.9 1.7 --- --- --- --- Total U.S. 72.4 60.8 72.1 64.1 Canada 9.9 11.2 10.5 10.9 International - - - - ------------- --- --- --- --- Total Natural Gas Liquids 82.3 72.0 82.6 75.0 ------------------------- ---- ---- ---- ---- Oil Equivalent (MBoe) U.S. Onshore 412.3 400.4 429.1 388.8 U.S. Offshore 40.0 37.6 36.2 46.9 ---- ---- ---- ---- Total U.S. 452.3 438.0 465.3 435.7 Canada 178.7 168.0 183.5 163.6 International 41.6 30.6 43.2 40.5 ------------- ---- ---- ---- ---- Total Oil Equivalent 672.6 636.6 692.0 639.8 -------------------- ----- ----- ----- ----- BENCHMARK PRICES Quarter Ended Nine Months Ended (average prices) September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Natural Gas ($/Mcf) - Henry Hub $3.39 $10.25 $3.93 $9.74 Oil ($/Bbl) - West Texas Intermediate (Cushing) $68.25 $118.52 $57.09 $113.49 --------------------------- ------ ------- ------ ------- REALIZED PRICES (excludes the effects of unrealized gains and losses from hedging) Quarter Ended September 30, 2009 Oil Gas NGLs Total (Per Bbl) (Per Mcf) (Per Bbl) (Per Boe) --------- --------- --------- --------- U.S. Onshore $64.48 $2.77 $24.49 $21.48 U.S. Offshore $65.99 $3.49 $28.34 $39.67 Total U.S. $65.01 $2.82 $24.56 $23.09 Canada $55.10 $2.91 $33.81 $31.62 International $65.94 $5.90 $ - $65.42 ------------- ------ ----- --- ------ Realized price without hedges $61.12 $2.84 $25.67 $27.97 Cash settlements $ - $0.53 $ - $2.05 ---------------- --- ----- --- ----- Realized price, including cash settlements $61.12 $3.37 $25.67 $30.02 -------------------------- ------ ----- ------ ------ Quarter Ended September 30, 2008 Oil Gas NGLs Total (Per Bbl) (Per Mcf) (Per Bbl) (Per Boe) -------- -------- -------- -------- U.S. Onshore $116.26 $8.48 $51.24 $55.65 U.S. Offshore $123.78 $11.05 $65.35 $87.42 Total U.S. $118.70 $8.66 $51.50 $58.38 Canada $92.98 $9.36 $72.19 $70.24 International $117.97 $10.72 $ - $116.34 ------------- ------- ------ --- ------- Realized price without hedges $106.95 $8.82 $54.72 $64.29 Cash settlements $(0.01) $(1.01) $ - $(4.10) ---------------- ------ ------ --- ------ Realized price, including cash settlements $106.94 $7.81 $54.72 $60.19 ------------------------- ------- ----- ------ ------ Nine Months Ended September 30, 2009 Oil Gas NGLs Total (Per Bbl) (Per Mcf) (Per Bbl) (Per Boe) -------- ------- -------- -------- U.S. Onshore $51.04 $2.99 $20.98 $20.86 U.S. Offshore $56.19 $4.11 $23.51 $36.64 Total U.S. $52.60 $3.05 $21.04 $22.09 Canada $43.42 $3.51 $30.20 $29.94 International $55.23 $4.65 $- $54.85 ----------------------- ------ ----- --- ------ Realized price without hedges $49.30 $3.16 $22.21 $26.21 Cash settlements $- $0.48 $- $1.90 ---------------- --- ----- --- ----- Realized price, including cash settlements $49.30 $3.64 $22.21 $28.11 ---------------- ------ ----- ------ ------ Nine Months Ended September 30, 2008 Oil Gas NGLs Total (Per Bbl) (Per Mcf) (Per Bbl) (Per Boe) -------- -------- ------- --------- U.S. Onshore $110.07 $8.34 $48.81 $54.51 U.S. Offshore $115.12 $10.25 $54.80 $81.65 Total U.S. $111.94 $8.50 $48.96 $57.43 Canada $87.28 $8.90 $70.00 $66.16 International $108.73 $9.95 $- $107.63 ----------------------- ------- ----- --- ------- Realized price without hedges $101.42 $8.60 $52.03 $62.84 Cash settlements $- $(0.80) $- $(3.15) ---------------- --- ------ --- ------ Realized price, including cash settlements $101.42 $7.80 $52.03 $59.69 ------------------ ------- ----- ------ ------ CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share amounts) Quarter Ended Nine Months Ended September 30, September 30, 2009 2008 2009 2008 Revenues -------- Oil sales $845 $1,296 $2,107 $4,001 Gas sales 691 2,107 2,344 5,947 NGL sales 195 362 501 1,069 Net gain (loss) on oil and gas derivative financial instruments 23 1,592 190 (411) Marketing and midstream revenues 344 621 1,074 1,895 --------- --- --- ----- ----- Total revenues 2,098 5,978 6,216 12,501 -------------- ----- ----- ----- ------ Expenses and other income, net ------------------------------ Lease operating expenses 505 591 1,539 1,634 Production taxes 61 152 150 462 Marketing and midstream operating costs and expenses 244 452 707 1,349 Depreciation, depletion and amortization of oil and gas properties 480 781 1,573 2,280 Depreciation and amortization of non-oil and gas properties 65 67 209 186 Accretion of asset retirement obligations 25 22 73 66 General and administrative expenses 137 146 485 474 Interest expense 90 69 263 261 Change in fair value of other financial instruments (5) 46 (20) 22 Reduction of carrying value of oil and gas properties - - 6,516 - Other income, net (96) (83) (69) (121) ----------------- --- --- --- ---- Total expenses and other income, net 1,506 2,243 11,426 6,613 ----------------------- ----- ----- ------ ----- Earnings (loss) from continuing operations before income taxes 592 3,735 (5,210) 5,888 -------------------- --- ----- ------ ----- Income tax expense (benefit) --------------------------- Current 102 226 155 743 Deferred (9) 1,000 (2,203) 1,391 -------- --- ----- ------- ----- Total income tax expense (benefit) 93 1,226 (2,048) 2,134 ----------------- --- ----- ------- ----- Earnings (loss) from continuing operations 499 2,509 (3,162) 3,754 ---------------------- --- ----- ------ ----- Discontinued operations ----------------------- Earnings from discontinued operations before income taxes - 93 16 1,133 Discontinued operations income tax expense (benefit) - (16) - 219 ----------------------------- --- --- --- --- Earnings from discontinued operations - 109 16 914 -------------------------- --- --- --- --- Net earnings (loss) 499 2,618 (3,146) 4,668 Preferred stock dividends - - - 5 ------------------------- --- --- --- --- Net earnings (loss) applicable to common stockholders $499 $2,618 $(3,146) $4,663 ------------- ---- ------ ------- ------ Basic net earnings (loss) per share Basic earnings (loss) from continuing operations per share $1.13 $5.68 $(7.12) $8.45 Basic earnings from discontinued operations per share $- $0.25 $0.03 $2.05 --------- --- ----- ----- ----- Basic net earnings (loss) per share $1.13 $5.93 $(7.09) $10.50 ---------------- ----- ----- ------ ------ Diluted net earnings (loss) per share Diluted earnings (loss) from continuing operations per share $1.12 $5.64 $(7.12) $8.37 Diluted earnings from discontinued operations per share $- $0.24 $0.03 $2.03 -------------------- --- ----- ----- ----- Diluted net earnings (loss) per share $1.12 $5.88 $(7.09) $10.40 ------------------ ----- ----- ------ ------ CONSOLIDATED BALANCE SHEETS (in millions) September 30, December 31, 2009 2008 ---- ---- Assets (Unaudited) ------ ---------- Current assets -------------- Cash and cash equivalents $905 $379 Accounts receivable 1,142 1,412 Income taxes receivable 47 334 Derivative financial instruments, at fair value 131 282 Other current assets 384 277 -------------------- --- --- Total current assets 2,609 2,684 -------------------- ----- ----- Property and equipment, at cost, based on the full cost method of accounting for oil and gas properties ($4,443 million and $4,551 million excluded from amortization in 2009 and 2008, respectively) 61,375 55,664 Less accumulated depreciation, depletion and amortization 42,503 32,683 -------------------------- ------ ------ Property and equipment, net 18,872 22,981 --------------------------- ------ ----- Goodwill 5,929 5,579 Other long-term assets, including $167 million and $199 million at fair value in 2009 and 2008, respectively 731 664 ------------------------------ --- --- Total Assets $28,141 $31,908 ------------ ------- ------- Liabilities and Stockholders' Equity ------------------------------------ Current liabilities ------------------- Accounts payable - trade $1,113 $1,825 Revenues and royalties due to others 368 496 Short-term debt 1,545 180 Current portion of asset retirement obligations, at fair value 108 138 Other current liabilities, including $7 million at fair value in 2009 309 496 ------------- --- --- Total current liabilities 3,443 3,135 ------------------------- ----- ----- Long-term debt 5,848 5,661 Asset retirement obligations, at fair value 1,511 1,347 Other long-term liabilities 977 1,026 Deferred income taxes 1,709 3,679 --------------------- ----- ----- Stockholders' equity -------------------- Common stock 44 44 Additional paid-in capital 6,410 6,257 Retained earnings 7,017 10,376 Accumulated other comprehensive income 1,182 383 -------------------------------------- ----- --- Total Stockholders' Equity 14,653 17,060 -------------------------- ------ ------ Total Liabilities and Stockholders' Equity $28,141 $31,908 ------------------------------------------ ------- ------- Common Shares Outstanding 444 444 --- --- CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) Nine Months Ended September 30, ------------------------------- 2009 2008 ---- ---- Cash Flows From Operating Activities -------------------- Net (loss) earnings $(3,146) $4,668 Net loss (earnings) from discontinued operations (16) (914) Adjustments to reconcile earnings (loss) from continuing operations to net cash provided by operating activities: Depreciation, depletion and amortization 1,782 2,466 Deferred income tax (benefit) expense (2,203) 1,391 Reduction of carrying value of oil and gas properties 6,516 - Net unrealized loss (gain) on oil and gas derivative financial instruments 169 (140) Other noncash charges 199 217 Net (increase) decrease in working capital (1) 339 Decrease (increase) in long-term other assets 20 (61) (Decrease) increase in long-term other liabilities (33) 94 --------------------------- --- --- Cash provided by operating activities - continuing operations 3,287 8,060 Cash provided by operating activities - discontinued operations 5 121 ------------------------------------ --- --- Net cash provided by operating activities $3,292 $8,181 ----------------------------------------- ------ ------- Cash Flows From Investing Activities ------------------------------------ Proceeds from sales of property and equipment 23 116 Capital expenditures (4,184) (6,184) Purchases of short-term investments - (50) Sales of long-term and short-term investments 6 297 --------------------------------------------- --- --- Cash used in investing activities - continuing operations (4,155) (5,821) Cash provided by investing activities - discontinued operations 1 1,859 ------------------------------------ --- ----- Net cash used in investing activities $(4,154) $(3,962) ------------------------------------- ------- ------- Cash Flows From Financing Activities ------------------------------------ Proceeds from borrowing of long-term debt, net of issuance costs 1,187 - Credit facility repayments - (3,191) Credit facility borrowings - 1,741 Net commercial paper borrowings (repayments) 363 (1,004) Debt repayments (1) (1,031) Redemption of preferred stock - (150) Proceeds from stock option exercises 19 109 Repurchases of common stock - (665) Dividends paid on common and preferred stock (213) (216) Excess tax benefits related to share-based compensation 6 58 ------------------------ --- --- Net cash provided by (used in) financing activities $1,361 $(4,349) -------------------- ------ ------- Effect of exchange rate changes on cash 29 (47) --------------------------------------- --- --- Net increase (decrease) in cash and cash equivalents 528 (177) Cash and cash equivalents at beginning of period (including cash related to assets held for sale) 384 1,373 -------------------------------- --- ----- Cash and cash equivalents at end of period (including cash related to assets held for sale) $912 $1,196 ------------------------ ---- ------ DRILLING ACTIVITY Quarter Ended Nine Months Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Exploration Wells Drilled ------------------------- U.S. 2 4 11 21 Canada - 18 29 76 International 6 - 7 7 ------------- --- --- --- --- Total 8 22 47 104 ----- --- --- --- --- Exploration Wells Success Rate ------------------------------ U.S. 50% 75% 73% 71% Canada - 94% 100% 95% International 33% - 29% 0% ------------- --- -- --- --- Total 38% 91% 83% 84% ----- --- --- --- --- Development Wells Drilled ------------------------- U.S. 135 430 589 1,207 Canada 87 171 230 430 International 3 13 16 35 ------------- --- --- --- --- Total 225 614 835 1,672 ----- --- --- --- ----- Development Wells Success Rate ------------------------------ U.S. 98% 98% 99% 98% Canada 100% 98% 99% 99% International 100% 92% 100% 91% ------------- --- --- --- --- Total 99% 98% 99% 98% ----- --- --- --- --- Total Wells Drilled ------------------- U.S. 137 434 600 1,228 Canada 87 189 259 506 International 9 13 23 42 ------------- --- --- --- --- Total 233 636 882 1,776 ----- --- --- --- ----- Total Wells Success Rate ------------------------ U.S. 97% 97% 98% 98% Canada 100% 98% 99% 99% International 56% 92% 78% 76% ------------- --- --- --- --- Total 97% 97% 98% 97% ----- --- --- --- --- September 30, ------------- 2009 2008 ---- ---- Number of Company Operated Rigs Running --------------------------------------- U.S. 22 92 Canada 8 12 International - 2 ------------- --- --- Total 30 106 ----- --- --- CAPITAL EXPENDITURES (in millions) Quarter Ended September 30, 2009 U.S. U.S. Onshore Offshore Canada International Total ------- -------- ------ ------------- ----- Capital Expenditures -------------------- Exploration $24 39 7 42 $112 Development 308 163 218 31 720 ----------- --- --- --- --- --- Exploration and development capital $332 202 225 73 $832 Capitalized G&A 94 Capitalized interest 21 Discontinued operations 1 Midstream capital 56 Other capital 32 ------------- --- Total Capital Expenditures $1,036 ------------- ------ CAPITAL EXPENDITURES (in millions) Nine Months Ended September 30, 2009 U.S. U.S. Onshore Offshore Canada International Total ------- -------- ------ ------------- ----- Capital Expenditures -------------------- Exploration $74 153 76 151 $454 Development 1,438 401 597 91 2,527 ----------- ----- --- --- --- ----- Exploration and development capital $1,512 554 673 242 $2,981 Capitalized G&A 302 Capitalized interest 67 Discontinued operations 5 Midstream capital 206 Other capital 76 ------------- --- Total Capital Expenditures $3,637 ------------ ------ NON-GAAP FINANCIAL MEASURES

The United States Securities and Exchange Commission has adopted disclosure requirements for public companies such as Devon concerning Non-GAAP financial measures. (GAAP refers to generally accepted accounting principles.) The company must reconcile the Non-GAAP financial measure to related GAAP information.

Cash flow before balance sheet changes and free cash flow are Non-GAAP financial measures. Devon believes cash flow before balance sheet changes is relevant because it is a measure of cash available to fund the company's capital expenditures, dividends and to service its debt. Devon believes free cash flow is relevant because it is a measure of cash available to pay dividends, service debt or buyback stock. Cash flow before balance sheet changes and free cash flow are used by certain securities analysts as a measure of Devon's financial results.

RECONCILIATION TO GAAP INFORMATION Quarter Ended Nine Months Ended (in millions) September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Net Cash Provided By Operating Activities (GAAP) $1,215 $2,995 $3,292 $8,181 ----- ------ ------ ------ ------ Changes in assets and liabilities - continuing operations (13) (393) 14 (391) Changes in assets and liabilities - discontinued operations 2 27 (5) 88 ----------------------- --- --- --- --- Cash flow before balance sheet changes (Non-GAAP) $1,204 $2,629 $3,301 $7,878 ---------- ------ ------ ------ ------ Less: Capital expenditures 1,036 2,364 3,637 6,351 -------------------- ----- ----- ----- ----- Free cash flow (Non-GAAP) $168 $265 $(336) $1,527 ------------------------ ---- ---- ----- ------

Devon believes that using net debt for the calculation of "net debt to adjusted capitalization" provides a better measure than using debt. Devon defines net debt as debt less cash and cash equivalents. Devon believes that because cash can be used to repay indebtedness, netting cash and cash equivalents against debt provides a clearer picture of the future demands on cash to repay debt.

RECONCILIATION TO GAAP INFORMATION (in millions) September 30, ------------- 2009 2008 ---- ---- Total debt (GAAP) $7,393 $4,837 Adjustments: Cash and cash equivalents 905 1,194 ------------------------- --- ----- Net Debt (Non-GAAP) $6,488 $3,643 ------------------ ------ ------ Total debt $7,393 $4,837 Stockholders' equity 14,653 25,290 -------------------- ------ ------ Total Capitalization (GAAP) $22,046 $30,127 -------------------------- ------- ------- Net debt $6,488 $3,643 Stockholders' equity 14,653 25,290 -------------------- ------ ------ Adjusted Capitalization (Non-GAAP) $21,141 $28,933 --------------------------------- ------- -------

Devon Energy Corporation

CONTACT: Investors, Zack Hager, +1-405-552-4526, or Media, Chip Minty,
+1-405-228-8647, both of Devon Energy Corporation

Web Site: http://www.devonenergy.com/

Company News On-Call: http://www.prnewswire.com/comp/118040.html

Stock Market Decline in October Trims Funding Status of U.S. Pensions, According to BNY Mellon Asset ManagementFunding Status of Typical Corporate Plan Dips Back Below 80 Percent

BOSTON, Nov. 4 /PRNewswire-FirstCall/ -- U.S. stocks declined for the first time in eight months, driving down the funding status of the typical U.S. corporate pension plan by 0.4 percentage points in October, according to monthly figures published by BNY Mellon Asset Management. The funded status of the typical plan declined to 79.9 percent at the end of October, down from 80.3 percent at the end of September, according to the BNY Mellon statistics.

Assets for the typical U.S. corporate plan decreased 1.2 percent, outpacing the 0.6 percent decline in liabilities during the month. For the year, through October 31, the funding ratio for the typical plan is up 6.0 percentage points, as represented by the BNY Mellon Pension Liability Index.

"After four straight months of improving funding status, the trend reversed as U.S. stocks fell 2.6 percent and international stocks fell 1.2 percent in October," said Peter Austin, executive director of BNY Mellon Pension Services, the pension services arm of BNY Mellon Asset Management. "Concerns about the strength of the economic recovery impacted October results and will continue to influence investor behavior. Fortunately, the impact of the negative equity returns were partially offset by a small rise in the Aa corporate discount rate, which caused liabilities to decline slightly."

Plan liabilities are calculated using the yields of long-term investment grade corporate bonds. Lower yields on these bonds result in higher liabilities.

"We continue to see increasing interest in liability driven investing strategies from pension plans seeking to reduce risk," said Austin. "Some pension plans have taken advantage of the rally in the equity markets and shifted assets from equities to long-term corporate bonds. While improvement in funded status is an overarching goal for every pension plan, we continue to see a growing trend in the alignment of risk measures with pension liabilities."

Notes to Editors:

BNY Mellon Asset Management is the umbrella organization for BNY Mellon's affiliated investment management firms and global distribution companies.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.1 trillion in assets under custody and administration and $966 billion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. Additional information is available at http://www.bnymellon.com/.

BNY Mellon

CONTACT: Mike Dunn, +1-212-922-7859, mike.g.dunn@bnymellon.com

Web Site: http://www.bnymellon.com/

Pioneer Drilling Announces Third Quarter 2009 Earnings Release and Conference Call Schedule

SAN ANTONIO, Oct. 21 /PRNewswire-FirstCall/ -- Pioneer Drilling Company (NYSE Amex: PDC) announced today that it intends to release financial results for the three months ended September 30, 2009, on Thursday, November 5, 2009 before the market opens. In conjunction with the upcoming release, Pioneer has scheduled a conference call for November 5 at 11:00 a.m. Eastern Time (10:00 a.m. Central Time).

What: Pioneer Drilling's Third Quarter 2009 Earnings Conference Call When: Thursday, November 5, at 11:00 a.m. Eastern Time How: Live via phone by dialing 480-629-9692 and asking for the Pioneer Drilling call 10 minutes prior to the start time. Or live over the Internet by logging on to the web address below. Where: http://www.pioneerdrlg.com/

For those who cannot listen to the live call, a telephone replay will be available through Thursday, November 12, 2009 by calling (303) 590-3030 and using the pass code 4176067 #. A webcast replay will also be archived for one year in the investor relations section of the Company's web site at http://www.pioneerdrlg.com/. For more information, please contact Donna Washburn at DRG&E at (713) 529-6600 or email dmw@drg-e.com.

About Pioneer Drilling Company

Pioneer Drilling Company provides contract land drilling services to independent and major oil and gas operators in Texas, Louisiana, Oklahoma, Kansas, the Rocky Mountain and Appalachian regions and internationally in Colombia through its Pioneer Drilling Services Division. The Company also provides workover rig, wireline and fishing and rental services to producers in the U.S. Gulf Coast, Mid-Continent, Rocky Mountain and Appalachian regions through its Pioneer Production Services Division. Its fleet consists of 71 land drilling rigs that drill at depths ranging from 6,000 to 25,000 feet, 74 workover rigs (sixty-nine 550 horsepower rigs, four 600 horsepower rigs and one 400 horsepower rig), 61 wireline units, and fishing and rental tools.

Contacts: Lorne E. Phillips, CFO Pioneer Drilling Company (210) 828-7689 Lisa Elliott / lelliott@drg-e.com Anne Pearson / apearson@drg-e.com DRG&E / (713) 529-6600

Pioneer Drilling Company, Inc.

CONTACT: Lorne E. Phillips, CFO of Pioneer Drilling Company,
+1-210-828-7689; or Lisa Elliott, lelliott@drg-e.com, or Anne Pearson,
apearson@drg-e.com, both of DRG&E , +1-713-529-6600, for Pioneer Drilling
Company

Web Site: http://www.pioneerdrlg.com/
http://www.pioneerdrlg.com/

W&T Offshore Announces Third Quarter 2009 Earnings Release and Conference Call Schedule

HOUSTON, Oct. 15 /PRNewswire-FirstCall/ -- W&T Offshore, Inc. announced today that it will release its third quarter 2009 financial and operations results at approximately 6:00 a.m. Eastern on Thursday, November 5, 2009. In conjunction with the release, the Company has scheduled a conference call, which will also be broadcast live over the Internet, on Thursday, November 5 at 10:00 a.m. Eastern (9:00 a.m. Central).

What: W&T Offshore Third Quarter 2009 Earnings Conference Call When: Thursday, November 5, 2009 at 10:00 a.m. Eastern (9:00 a.m. Central) How: Live via phone - by dialing 480-629-9786 and asking for the W&T Offshore call at least 10 minutes prior to the start time, or Live over the Internet - By logging onto the web at the address below Where: http://www.wtoffshore.com/ - On the homepage in the "Investor Relations" section of the Company's Web site

For those who cannot listen to the live call, a telephonic replay will be available through November 12, 2009 and may be accessed by calling (303) 590-3030 and using the pass code 4173824. Also, an archive of the webcast will be available after the call on the "Investor relations home" page under the "Investor Relations" section of the Company's Web site.

About W&T Offshore

W&T Offshore is an independent oil and natural gas company focused primarily in the Gulf of Mexico, including exploration in the deepwater and deep shelf regions, where it has developed significant technical expertise. W&T has grown through acquisition, exploitation and exploration and now holds working interests in over 147 fields in federal and state waters and a majority of its daily production is derived from wells it operates. For more information on W&T Offshore, please visit its Web site at http://www.wtoffshore.com/.

Contacts: Manuel Mondragon, Janet Yang investorrelations@wtoffshore.com 713-297-8024 Ken Dennard / ksdennard@drg-e.com Lisa Elliott / lelliott@drg-e.com DRG&E / 713-529-6600

W&T Offshore, Inc.

CONTACT: Manuel Mondragon or Janet Yang, both of W&T Offshore, Inc.,
+1-713-297-8024, investorrelations@wtoffshore.com; or Ken Dennard,
ksdennard@drg-e.com, or Lisa Elliott, lelliott@drg-e.com, both of DRG&E,
+1-713-529-6600, for W&T Offshore, Inc.

Web Site: http://www.wtoffshore.com/

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