Companies news of 2009-11-04 (page 8)
Mesa Uranium Acquires Lithium ProjectTSX Venture: MSA
VIA Pharmaceuticals Featured at American Heart Association Scientific Sessions...
BioMarin to Present at the Credit Suisse Healthcare Conference
Love, Peace and Soul Reigned at the 'CENTRIC PRESENTS: 2009 SOUL TRAIN AWARDS' Show Taping...
Raytheon Awarded $6 Million for Patriot Engineering Services
EXFO's New Bidirectional RFC 2544 Capability Allows for Unrivalled Carrier-Ethernet...
Regulatory Compliance Predicted to be a Major Driver of Competitive AdvantageSurvey Shows...
Ironclad Performance Wear to Report Third Quarter 2009 Financial ResultsConference Call...
Universal CityWalk(R) Sizzles With Opening of Samba, New Brazilian Steakhouse & Lounge...
ProLogis Closes ProLogis European Properties Fund II Financing- Proceeds Used to Pay Down...
Gulf Resources Hosts NASDAQ Listing Dinner Celebration in Hong Kong
China Industrial Waste Management Provides Update on Dongtai Organic Waste Treatment...
China Nutrifruit Group Limited to Present at Brean Murray, Carret & Co. 2009 China Growth...
Orient Paper, Inc to Present at Brean Murray, Carret & Co. 2009 China Growth Conference
Numerex Corp Retires Remaining Structured Debt
Alan Jackson Will Meet Fans in Downtown Nashville CMA WeekCracker Barrel constructs a...
Simtrol, Inc. Releases Business Update Letter to Shareholders
WPCS Completes Acquisition of Australia Based Pride Electronic Security Systems
Dot Hill Systems Qualifies STEC Solid State Drives
Martha Stewart Living Omnimedia Reports Third Quarter 2009 ResultsImproved Performance in...
Medicago to present at the U.S. Department of Health and Human Services' Global Health...
InterMune Announces Submission of NDA for Pirfenidone for the Treatment of Patients with...
Wabtec Unit Signs $30 Million Contract To Supply Doors for Marmaray Project in Turkey
Golden Dragon Holdings Announces Current Information Status on the PINKSHEETS
Webcast Alert: B2W - Companhia Global do Varejo Announces Third Quarter 2009 Results...
BNY Mellon Teams with Euroclear Bank and GlobeTax to Streamline Dividend Tax Relief for...
Yukon-Nevada Gold Corp. meets TSX continued listing requirements
WestJet reports an improved October load factor of 77.3 per cent
WestJet announces 18th consecutive quarter of profitabilityAirline reports third quarter...
Apple Announces Over 100,000 Apps Now Available on the App Store
Mesa Uranium Acquires Lithium ProjectTSX Venture: MSA
VANCOUVER, Nov. 4 /PRNewswire-FirstCall/ -- Mesa Uranium Corp. (TSX: MSA) is pleased to announce that it has acquired, by staking, the Green Energy lithium project in Utah. The project consists of mining claims covering an area of approximately 10 square miles (6,000 acres) and is 100% wholly-owned. High demand and low supply has pushed lithium carbonate (Li2CO3) prices to US$6,600.00 per ton, lithium-ion battery demand for hybrid-electric and electric cars is expected to increase fivefold by 2012.
Lithium occurs at the project over an extensive area with values as high as 1,700 ppm lithium (0.9% Li2CO3) in saturated brine. The brine was discovered in the 1960s when oil exploration wells encountered blow-outs drilling into Bed #31 of the Paradox Formation. The pressurized free-flowing brine interrupted drilling operations and was considered a nuisance, rarely chemically analyzed or flow-rate tested. Over twenty oil exploration wells have been drilled on the Green Energy project; five of these wells have analytical data for lithium. Below is a summary of this data:
-------------------------------------------------------------------------
Li2CO3 Annual
Well Name Lithium (ppm) Gallons Per Day Tons
-------------------------------------------------------------------------
WC #2 1,700 491,000 8,786
-------------------------------------------------------------------------
SNG #1 500 Adjacent to WC #2 Not Determined
-------------------------------------------------------------------------
KO #2 173 3 Miles North of PO #1 Not Determined
-------------------------------------------------------------------------
PO #1 134 1,356,000 1,911
-------------------------------------------------------------------------
BF #2 81 50,400 43
-------------------------------------------------------------------------
Lithium brine mines are more economic to mine and process than conventional open-pit or underground mines. Given the favorable climate of the area solar evaporation can be used to concentrate the brine to enhance project economics. World-class lithium brine mines range in grade from 150 ppm to 1,200 ppm lithium and employ proven solar evaporation concentration techniques.
Mesa is currently evaluating all available recent and historic exploration drilling logs. A professional engineering firm will be engaged to evaluate drilling data, reservoir potential and extraction methods at the Green Energy project.
While the Company has no reason to doubt the accuracy of the historical results, the data should not be relied upon until confirmed by the Company's own exploration. Historical results and the work that generated them pre-date the enactment of National Instrument 43-101 and accordingly may not meet the requirements of that policy. There are no 43-101 mineral reserves or mineral resources on the Green Energy lithium project. The potential quantity and grade indicated above is conceptual in nature and has been provided only for illustration purposes.
About Lithium
Lithium is used for batteries, specialty glass, lubricants, pharmaceuticals and lithium alloys. Lithium ion (Li-ion) batteries have become the rechargeable battery of choice in cell phones, computers, hybrid-electric cars and electric cars. GM, Ford, Toyota, Dodge, Chrysler, Mitsubishi, Nissan, Tesla, Saturn and Mercedes-Benz have all announced plans to build Li-ion battery-powered cars. Demand for lithium-powered vehicles is expected to increase fivefold by 2012. The domestic automotive industry must secure a lithium source to supply the next generation of hybrid-electric and electric vehicles. Over 60% of cell phones and 90% of laptops use lithium batteries. The worldwide market for lithium batteries is estimated at over $4 billion per year.
About Mesa Uranium
Mesa explores and develops mineral properties focused in the western United States. For further information please visit our website at http://www.mesauranium.com/.
ON BEHALF OF THE BOARD
MESA URANIUM CORP.
(signed) Foster Wilson, President and CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at http://www.sedar.com/
The TSX Venture Exchange has neither approved nor disapproved of
the contents of this news release.
Mesa Uranium Corp.
CONTACT: Susan Bertling, (604) 688-7508
VIA Pharmaceuticals Featured at American Heart Association Scientific Sessions 2009VIA-3196 THR Beta Agonist Featured in Abstract Oral Session
SAN FRANCISCO, Nov. 4 /PRNewswire-FirstCall/ -- VIA Pharmaceuticals, Inc. , a biotechnology company focused on the development of compounds for the treatment of cardiovascular and metabolic disease, today announced that Dr. Rebecca Taub, Senior Vice President Research & Development will present "VIA-3196, a Liver-directed Thyroid Beta Agonist for Treating Cardiometabolic Disease" in the Abstract Oral Session on Novel Biological Mechanisms of Atherosclerosis November 17, 2009 at the American Heart Association Scientific Sessions 2009 in Orlando, Florida.
The presentation details are as follows:
Date / Time: Tuesday November 17, 2009
9:15 am ET
Location: Orange County Convention Center, Orlando, Florida
Room W304cd
Session: Abstract Oral Session - Novel Biological Mechanisms of
Atherosclerosis
Title: VIA-3196, a Liver-directed Thyroid Beta Agonist for
Treating Cardiometabolic Disease
About THR beta agonist
VIA-3196 is an orally administered, small-molecule beta-selective thyroid hormone receptor agonist designed to specifically target receptors in the liver involved in metabolism and cholesterol regulation, and avoid side effects associated with thyroid hormone receptor activation outside the liver. Roche has completed preclinical studies of the THR beta agonist. These studies demonstrated a rapid reduction of non-HDL cholesterol and the drug was shown to be synergistic with statins in animal studies. VIA will investigate the possibility of using the THR beta agonist in combination with statins for the treatment of hypercholesterolemia. In addition, in animal studies, insulin sensitization and glucose lowering were observed making this compound a possible treatment of patients with type 2 diabetes in combination with other diabetes medications.
About VIA Pharmaceuticals, Inc.
VIA Pharmaceuticals, Inc. is a biotechnology company focused on the development of compounds for the treatment of cardiovascular and metabolic disease. VIA's lead candidate, VIA-2291, targets a significant unmet medical need by reducing inflammation in plaque, which is an underlying cause of atherosclerosis and its complications, including heart attack and stroke. In addition, VIA's pipeline of drug candidates includes other compounds to address other underlying causes of cardiovascular disease: high cholesterol, diabetes and inflammation. For more information, visit: http://www.viapharmaceuticals.com/.
Forward Looking Statements
This press release may contain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or to VIA's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause VIA's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue" or the negative of these terms or other comparable terminology. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond VIA's control and which could materially affect actual results, levels of activity, performance or achievements.
Factors that may cause actual results to differ materially from current expectations include, but are not limited to:
-- our ability to comply with the NASDAQ rules for continued listing in
order to maintain the listing of our common stock on NASDAQ;
-- our ability to obtain necessary financing in the near term, including
amounts necessary to repay the loan from Bay City Capital by the
December 31, 2009 maturity date (or earlier if certain repayment
acceleration provisions are triggered);
-- our ability to control our operating expenses;
-- our ability to comply with covenants included in the loan from Bay
City Capital;
-- our ability to timely recruit and enroll patients in any future
clinical trials;
-- our failure to obtain sufficient data from enrolled patients that can
be used to evaluate VIA-2291, thereby impairing the validity or
statistical significance of our clinical trials;
-- our ability to successfully complete our clinical trials of VIA-2291
on expected timetables and the outcomes of such clinical trials;
-- complexities in designing and implementing cardiometabolic clinical
trials using surrogate endpoints in Phase 1 and Phase 2 clinical
trials which may differ from the ultimate endpoints required for
registration of a candidate drug;
-- the results of our clinical trials, including without limitation, with
respect to the safety and efficacy of VIA-2291;
-- if the results of the ACS and CEA studies, upon further review and
analysis, are revised, interpreted differently by regulatory
authorities or negated by later stage clinical trials;
-- our ability to obtain necessary FDA approvals, including to initiate
future clinical trials of VIA-2291;
-- our ability to successfully commercialize VIA-2291;
-- our ability to identify potential clinical candidates from the family
of DGAT1 compounds licensed and move them into preclinical
development;
-- our ability to obtain and protect our intellectual property related to
our product candidates;
-- our potential for future growth and the development of our product
pipeline, including the THR beta agonist candidate and the other
compounds licensed from Roche;
-- our ability to obtain strategic opportunities to partner and
collaborate with large biotechnology or pharmaceutical companies to
further develop VIA-2291;
-- our ability to form and maintain collaborative relationships to
develop and commercialize our product candidates;
-- general economic and business conditions; and
-- the other risks described under Item 1A "Risk Factors" in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2008, as
supplemented by the risks described under Item 1A "Risk Factors" in
our Quarterly Reports on Form 10-Q for the quarters ended March 31,
2009 and June 30, 2009, each on file with the SEC.
All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made, and VIA undertakes no obligation to update publicly any of these statements in light of new information or future events.
VIA Pharmaceuticals, Inc.
CONTACT: James G. Stewart, Senior Vice President and Chief Financial Officer of VIA Pharmaceuticals, Inc., +1-415-283-2204
Web Site: http://www.viapharmaceuticals.com/
BioMarin to Present at the Credit Suisse Healthcare Conference
NOVATO, Calif., Nov. 4 /PRNewswire-FirstCall/ -- BioMarin Pharmaceutical Inc. today announced that Jean-Jacques Bienaime, Chief Executive Officer of BioMarin, will present a company update at the Credit Suisse Healthcare Conference in Phoenix on Wednesday, November 11, 2009 at 12:00 p.m. MST.
Interested parties may access a live audio webcast of the conference call via the investor section of the BioMarin website, http://www.bmrn.com/. A replay of the call will be archived on the site for one week following the call.
About BioMarin
BioMarin develops and commercializes innovative biopharmaceuticals for serious diseases and medical conditions. The company's product portfolio comprises three approved products and multiple clinical and pre-clinical product candidates. Approved products include Naglazyme® (galsulfase) for mucopolysaccharidosis VI (MPS VI), a product wholly developed and commercialized by BioMarin; Aldurazyme® (laronidase) for mucopolysaccharidosis I (MPS I), a product which BioMarin developed through a 50/50 joint venture with Genzyme Corporation; and Kuvan® (sapropterin dihydrochloride) Tablets, for phenylketonuria (PKU), developed in partnership with Merck Serono, a division of Merck KGaA of Darmstadt, Germany. Other product candidates include PEG-PAL (PEGylated recombinant phenylalanine ammonia lyase), which is in Phase II clinical development for the treatment of PKU and GALNS (N-acetylgalactosamine 6-sulfatase), which is currently in Phase I/II clinical development for the treatment of MPS IVA. For additional information, please visit http://www.bmrn.com/. Information on BioMarin's website is not incorporated by reference into this press release.
BioMarin®, Naglazyme® and Kuvan® are registered trademarks of BioMarin Pharmaceutical Inc.
Aldurazyme® is a registered trademark of BioMarin/Genzyme LLC.
Contacts:
Investors Media
Eugenia Shen Susan Berg
BioMarin Pharmaceutical Inc. BioMarin Pharmaceutical Inc.
(415) 506-6570 (415) 506-6594
BioMarin Pharmaceutical Inc.
CONTACT: Investors, Eugenia Shen, +1-415-506-6570, or Media, Susan Berg, +1-415-506-6594, both of BioMarin Pharmaceutical Inc.
Web Site: http://www.bmrn.com/
Love, Peace and Soul Reigned at the 'CENTRIC PRESENTS: 2009 SOUL TRAIN AWARDS' Show Taping on Tuesday, November 3Beyonce Leads the Pack Winning Three Awards The CENTRIC PRESENTS: 2009 SOUL TRAIN AWARDS Will Air in a Special Simulcast on BET and Centric on Sunday, November 29 at 9:00 P.M.*
NEW YORK, Nov. 4 /PRNewswire/ -- On Tuesday, November 3, CENTRIC took viewers on a stirring ride aboard the "Soul Train" at the taping of the network's first special, CENTRIC PRESENTS: 2009 SOUL TRAIN AWARDS hosted by Academy Award-nominated actors Taraji P. Henson and Terrence Howard. The night opened with a memorable performance by Toni Braxton featuring Trey Songz singing "Yesterday" that was sealed with a kiss. Co-hosts Terrence Howard and Taraji P. Henson welcomed the audience with a colorful rendition of Peaches and Herb's "Reunited." With performances from Keri Hilson, Robin Thicke, Ryan Leslie, Raheem DeVaughn featuring Ludacris Chrisette Michele, Mario featuring Sean Garrett, and many more, the evening was filled with non-stop, soulful entertainment. Viewers can tune-in for the premiere of the CENTRIC PRESENTS: 2009 SOUL TRAIN AWARDS in a special simulcast on BET and CENTRIC on Sunday, November 29 at 9:00 P.M.*
(Logo: http://www.newscom.com/cgi-bin/prnh/20070716/BETNETWORKSLOGO )
The special also showcased a Motown Records musical celebration with an outstanding medley of Motown hits performed by Taraji P. Henson as a Supreme, Boyz II Men, Chico DeBarge, Johnny Gill, Estelle, Vita, Mike Phillips and Melanie Fiona. Charlie Wilson and Chaka Khan were recipients of the evening's Icon Award. Both were honored by some of today's hottest artists including Keith Sweat, Ginuwine, Raheem DeVaughn, Kandi Burress, Brian McKnight, who paid homage to Charlie Wilson and The Gap Band with powerful renditions of celebrated Gap Band titles, including "Outstanding," "Yearning for Your Love," "Burn Rubber." Following this tribute, Charlie Wilson, himself, graced the stage to perform two songs: "Burn Rubber" with K-Ci & Jo-Jo and Bootsy Collins and "There Goes My Baby."
The audience was brought to its feet as Erykah Badu, Melle Mel, Ledisi, Fantasia, and Angie Stone stormed the stage to pay homage to legendary artist Chaka Khan with such hits as "Through the Fire" and "Tell Me Something Good." With fun-filled skits, dance sequences and hilarious throwbacks to the infamous Soul Train scramble board and Soul Train line, the CENTRIC PRESENTS: 2009 SOUL TRAIN AWARDS special is a show people would not want to miss.
Some presenters of the CENTRIC PRESENTS: 2009 SOUL TRAIN AWARDS included Monica, Tamia, Deborah Cox, Kelly Price and many others.
The following is a list of CENTRIC PRESENTS: 2009 SOUL TRAIN AWARDS winners:
BEST NEW ARTIST
-- Keri Hilson
BEST R&B/SOUL ARTIST FEMALE
-- Beyonce
BEST MALE R&B/SOUL MALE
-- Maxwell
SONG OF THE YEAR
-- "Single Ladies (Put a ring on it)" - Beyonce
ALBUM OF THE YEAR
-- Beyonce - I am... Sasha Fierce (Platinum) Sony Music
RECORD OF THE YEAR (SONGWRITER AWARD)
-- Jamie Foxx Ft/T-Pain - "Blame it"
BEST REGGAE ARTIST AWARD
-- Sean Paul
CENTRIC AWARD - SOUL APPROVED/UNDERGROUND
-- Maysa
BEST GOSPEL PERFORMANCE MALE FEMALE OR GROUP
-- Mary Mary featuring Kierra "KiKi" Sheard - "God In Me"
BEST COLLABORATION
-- Keri Hilson featuring Kanye West & Ne-Yo - "Knock you Down"
ENTERTAINER OF THE YEAR
-- Michael Jackson
The CENTRIC PRESENTS: 2009 SOUL TRAIN AWARDS is produced by Sunseeker Media and directed by Manny Rodriguez and Alex Coletti, in collaboration with BET Event Productions. Paxton Baker, CENTRIC Executive Vice President and General Manager; Essie Chambers, CENTRIC Senior Vice President of Programming; Tami Willis-Arasli, CENTRIC Vice President of Production; Bart Phillips, Sunseeker Media; and Soul Train Holdings' Kenard Gibbs, Peter Griffith, and Anthony Maddox are the executive producers of the network telecast. Angela Fisher served as talent coordinator and Fatima Robinson as the show choreographer.
*All times ET/PT
About CENTRIC
CENTRIC is a 24-hour music and entertainment channel that reflects the lifestyle and sophistication of today's African-American and multicultural adult viewer. With a finger on the pulse of an ever-changing beat, its compelling music content fuses Soul, R&B, Neo-Soul, Hip Hop, Reggae, Gospel, Jazz, Old School, New School and everything in between with today's hottest artists. It is a unique of mix of music, culture and lifestyle programming that embodies the lives, tastes and aspirations of the CENTRIC viewer: All you. All day. All night.
About BET Networks
BET Networks, a division of Viacom Inc. , is the nation's leading provider of quality entertainment, music, news and public affairs television programming for the African-American audience. The primary BET channel reaches more than 98 million households and can be seen in the United States, Canada, the Caribbean, the United Kingdom and sub-Saharan Africa. BET is the dominant African-American consumer brand with a diverse group of business extensions: BET.com, a leading Internet destination for Black entertainment, music, culture, and news; CENTRIC, a 24-hour music and entertainment network targeting the 25- to 54-year-old African-American audience; BET Digital Networks - BET Gospel and BET Hip Hop, attractive alternatives for cutting-edge entertainment tastes; BET Home Entertainment, a collection of BET-branded offerings for the home environment including DVDs and video-on-demand; BET Event Productions, a full-scale event management and production company with festivals and live events spanning the globe; BET Mobile, which provides ringtones, games and video content for wireless devices; and BET International, which operates BET in the United Kingdom and oversees the extension of BET network programming for global distribution.
About Soul Train Holdings
Soul Train Holdings was formed in May 2008 by MadVision Entertainment, an urban-focused content company, and InterMedia Partners, a private equity investment firm. MadVision was created in 2006 by media and entertainment veterans Kenard Gibbs, Peter Griffith, and Anthony Maddox. Soul Train Holdings was formed following MadVision's acquisition of the iconic Soul Train franchise and now owns the catalog of over 1,100 hours of episodes, 300,000 photos and 500 hours of awards show footage from Don Cornelius Productions.
Soul Train is a registered trademark of Soul Train Holdings, LLC, a limited liability company headquartered in Los Angeles, CA. Soul Train is the longest running, first -run, nationally syndicated program in television history. During its 37 year run, the show featured such staples as the Soul Train line and performers as important and diverse as: Al Green, Ike & Tina Turner, Marvin Gaye, Michael Jackson, Stevie Wonder, Elton John, Whitney Houston, David Bowie, Janet Jackson, Elton John, Luther Vandross, Alicia Keys, Chaka Khan and Beyonce, to name a few.
Photo: http://www.newscom.com/cgi-bin/prnh/20070716/BETNETWORKSLOGO http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
BET Networks
CONTACT: Jeanine Liburd, +1-212-205-3011, jeanine.liburd@bet.net, or Lyntina Townsend, +1-202-608-2745, lyntina.townsend@bet.net, both of CENTRIC; or Dave Cirilli of Soul Train, +1-646-727-0063, dave@giantnoise.com
Web Site: http://www.bet.com/
Raytheon Awarded $6 Million for Patriot Engineering Services
TEWKSBURY, Mass., Nov. 4, 2009 /PRNewswire/ -- Raytheon Company has been awarded a $5.8 million contract modification for engineering services for the Patriot Air and Missile Defense system.
This is the eighth modification to the $128 million contract awarded in January 2009 by the U.S. Army Aviation and Missile Command, Redstone Arsenal, Ala. A previous contract modification for $8.1 million was awarded in August 2009.
The contract calls for Raytheon to provide systems analysis, software and hardware engineering, testing and logistics support.
"This contract modification signifies the continued commitment by the U.S. government to ensure that Patriot systems are at the highest level of readiness," said Sanjay Kapoor, vice president for Patriot Programs at Raytheon Integrated Defense Systems (IDS). "Raytheon is continually improving Patriot to deliver the most advanced capabilities to the U.S. Army and our 11 international partners."
Work under this contract will be performed by Raytheon IDS at its Integrated Air Defense Center in Andover, Mass.; IDS Headquarters in Tewksbury, Mass.; the Warfighter Protection Center in Huntsville, Ala.; and the Mission Capability Verification Center in White Sands, N.M.
Raytheon IDS is the prime contractor for both domestic and international Patriot air and missile defense systems and systems integrator for Patriot Advanced Capability-3 missiles.
Integrated Defense Systems is Raytheon's leader in Global Capabilities Integration providing affordable, integrated solutions to a broad international and domestic customer base, including the U.S. Missile Defense Agency, the U.S. Armed Forces and the Department of Homeland Security.
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.
Contact:
Roopa Bhide
978.470.5334
Raytheon Company
CONTACT: Roopa Bhide of Raytheon Company, +1-978-470-5334
Web Site: http://www.raytheon.com/
Company News On-Call: http://www.prnewswire.com/comp/149999.html http://www.prnewswire.com/comp/742575 .html
EXFO's New Bidirectional RFC 2544 Capability Allows for Unrivalled Carrier-Ethernet Service TestingThis new software suite further enhances the user experience as it leverages the intuitive features of the AXS-200/850 handheld test set, which interoperates with EXFO's complete datacom portfolio.
QUEBEC CITY, Nov. 4 /PRNewswire-FirstCall/ -- EXFO Electro-Optical Engineering Inc. announced today the release of a new software suite that provides bidirectional RFC 2544 enhanced functionalities on the AXS-200/850 Ethernet Test Set, a handheld performance assessment tool that radically simplifies the installation, activation and maintenance of Ethernet networks and services.
Guaranteeing end-to-end service-level agreements (SLAs) is critical for today's carrier grade Ethernet services. The AXS-200/850's bidirectional RFC 2544 test capabilities provide real-time test results, both upstream and downstream. This new function allows service providers to validate that service rates are properly provisioned, thus ensuring scarce network resources are optimized and SLAs are met.
Thanks to this test, service providers have access to unsurpassed troubleshooting capabilities since they can accurately pinpoint where failures are occurring in the network. Moreover, the bidirectional RFC 2544 test is fully interoperable and compatible with EXFO's complete portfolio of datacom test modules.
"Our bidirectional RFC 2544 addition significantly reduces the cost of carrier-Ethernet services testing across any transmission technology," said Etienne Gagnon, EXFO's Vice-President of Product Development and Marketing. "Designed for the AXS-200/850, this new software suite allows service providers to save time and money while decreasing the number of technicians deployed in the field. The end result: they will increase their test equipment return on investment (ROI) and reduce their overall service costs."
For more information on the AXS-200/850 Ethernet Test Set and the complete portfolio of datacom and transport modules, please visit http://www.exfo.com/.
About EXFO
EXFO is a leading provider of test and service assurance solutions for network service providers and equipment manufacturers in the global telecommunications industry. The Telecom Division offers a wide range of innovative solutions extending across the full technology lifecycle - from design to technology deployment and onto service assurance - and covering all layers on a network infrastructure to enable triple-play services and next-generation, converged IP networking. The Life Sciences and Industrial Division offers solutions in medical device and opto-electronics assembly, fluorescence microscopy and other life science sectors. For more information, visit http://www.exfo.com/.
EXFO ELECTRO-OPTICAL ENGINEERING INC.
CONTACT: Maryse Brodeur, Media Planner, (418) 683-0913, Ext. 3429, maryse.brodeur@EXFO.com; Vance Oliver, Manager, Investor Relations, (418) 683-0913, Ext. 3733, vance.oliver@EXFO.com
Regulatory Compliance Predicted to be a Major Driver of Competitive AdvantageSurvey Shows Top Chemical Companies Ready for Unified Approach to Managing Regulatory Complexity
FALLS CHURCH, Va., Nov. 4 /PRNewswire/ -- A new survey released today by CSC and Chemical Week magazine found that over the next five years regulatory compliance will advance from being perceived as a small cost of doing business to a major driver of competitive advantage. The survey, conducted by CSC and Chemical Week, queried senior compliance and sustainability officers at leading global chemical companies as well as five executive interviews to identify their focus on preparedness for compliance with industry regulations.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090422/CSCLOGO)
The survey revealed that sustainability programs have helped respondents refocus product development efforts, enhance their brand value, and become more competitive. In fact, approximately 75 percent of respondents said they are re-tooling their product development efforts in response to pressures from current and expected regulatory programs. "The most common business area that will be affected by regulatory complexity and change will be in product development. Most companies are gearing up for this challenge and view it as a business differentiator," said Chuck Deise, vice president and chemical sector leader, CSC.
"Akzo Nobel primarily is responding to this increasing regulatory complexity by adapting its product portfolio to greener products. The company currently classifies 18 percent of its products as 'ecopremium,' but targets an increase to 30 percent in 2015," said Andre Veneman, director/sustainability for Akzo Nobel, recently rated by the Dow Jones Sustainability Index as the most sustainable major chemicals company. "One of the big challenges is to develop ecopremium products with a lower environmental footprint." Using this strategy, Akzo Nobel is exceeding current regulatory requirements and anticipating future regulations. By working on this kind of activity now, future regulations "will not be so challenging," Veneman says.
"You can't just talk about a product being greener, it's got to be looked at from an environmental, economic, and social perspective, and you have to look at the 'footprint' value. We are trying to take a holistic approach to this. We are looking at a product's impact on climate change and resource utilization as well," said David Kepler, board member and head of Health, Safety and Environment at Dow Chemical.
Preparing for Regulations
Eighty percent of respondents confirmed the need for a universal set of capabilities to manage the increasing complexities of the regulatory environment. Half (50 percent) of the respondents have already developed a common approach for interpreting and complying with new regulatory programs while 70 percent are developing common IT capabilities and management structures to comply with the broad set of regulatory programs facing chemical companies. "Given the strategic value, we are beginning to see a major transformation in the industry to an enterprise approach with common business processes and management systems and the IT infrastructure to support this effort," added Deise.
The survey also found that most of the respondents (90 percent) anticipate that Cap and Trade legislation will have little impact on core business functions, such as financial reporting, production levels/costs and supplier costs, through next year. However, 70% of respondents felt that by 2015, Cap and Trade legislation will drive positive outcomes in product innovation, energy cost reduction, and competitive positioning.
With regards to REACH, 60 percent of respondents are confident that they will complete 2010 REACH registration requirements on time. However, the ability to manage supplier communication regarding substance use registration and Substance Information Exchange Forum (SIEF) effectiveness are major concerns. Additionally, more than half (55 percent) of the respondents are now reformulating products as a result of this legislation. "Chemical firms certainly are faced with a greater level of complexity. Rather than regulations alone becoming more complex, the chemical industry currently finds itself in a transformational phase as well," says James C. Romine, vice president, regulatory and product stewardship, DuPont. "A change of management processes is required on a number of levels, if chemical companies are to thrive," Romine says. "We'll manage the complexity of regulatory compliance, but it's the change in the business model that will have the most impact," he says.
For plant level Media and GHG reporting, most respondents indicated a focus on mandatory reporting of GHG for the EPA, defining a carbon strategy, and actively determining their company-wide carbon governance structure. Sixty-nine percent of respondents believe that their regulatory organizations are prepared to handle potential changes to Media reporting and licensing. While nearly 70% of respondents are confident they can achieve compliance with manual reporting using spreadsheets, they report concerns about their ability to manage the resulting operational changes accompanying the regulatory changes.
Illustrating the chemical industry's focus on cyber security, 85 percent of respondents have either started or completed most components of their Chemical Facility Anti-Terrorism Standards (CFATS) program strategy. However, the same respondents admit to lagging in the collection of documentation, audit preparation and site training. The respondents rated access control and reporting of security incidents and suspicious activity as the most important CFATS risk-based performance standards.
Methodology
The CSC/Chemical Week survey was conducted during September and October of 2009 and sampled the top global chemical companies. For complete results of the survey, visit http://www.csc.com/09sustainabilitysurvey.
About Chemical Week
Chemical Week is the world's leading source of news and analysis for key professionals concerned with the chemical, petrochemical, specialty chemicals and related industries. Chemical Week information is available face-to-face, daily, weekly and 24/7 via our websites, online buyers' guides and custom publications. Chemical Week is part of Chemical Business Media, the world's leading provider of technical and business information to the chemical and process industries who use chemicals to make everyday products.
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: Jane Howell, Marketing Director of Chemical, Energy and Natural Resources Group, +1-781-631-1326, jhowell24@csc.com
Web Site: http://www.csc.com/
Ironclad Performance Wear to Report Third Quarter 2009 Financial ResultsConference Call with Management Set for November 11th at 1:30 p.m. Pacific Time
LOS ANGELES, Nov. 4 /PRNewswire-FirstCall/ -- Ironclad Performance Wear Corporation (BULLETIN BOARD: ICPW) , a leader in high-performance gloves and apparel, announced that it will report its financial results for the third quarter ended September 30, 2009 after the close-of-market on Wednesday, November 11, 2009.
(Photo: http://www.newscom.com/cgi-bin/prnh/20060511/LATH052LOGO)
A conference call to discuss the third quarter results for 2009 will be held on Wednesday, November 11 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time).
The third quarter results conference call will be hosted by Scott Jarus, Chief Executive Officer & Chairman, and will include the participation of Ed Jaeger, Founder; Kent Pachl, Executive Vice President of Sales and Marketing; and Thomas Kreig, Senior Vice President of Finance.
To participate in the conference call, interested parties should dial (877) 941-1492 ten minutes prior to the call. International callers should dial 1+ (480) 629-9666. If you are unable to participate in the live call, a replay will be available from November 11 at 7:30 p.m. Eastern Time through 11:59 p.m. Eastern Time on November 25, 2009. To access the replay, dial (800) 406-7325 (passcode: 4181177). International callers should dial 1+ (303) 590-3030 and use the same passcode.
The conference call will also be broadcast live over the Internet and can be accessed at http://www.ironclad.com/. For those unable to participate during the live broadcast, the Webcast will be archived on this site through November 25, 2009.
The Company's financial results will be posted online at http://www.ironclad.com/ once they are publicly released.
About Ironclad Performance Wear Corporation
Ironclad, which created the performance work glove category in 1998, continues to leverage its leadership position in the construction and industrial markets through the development and introduction of specialized task-specific gloves for industries such as oil & gas exploration and automotive. With its focus on innovation, design, advanced material science and durability, Ironclad engineers, manufactures, and sells a comprehensive line of task-specific gloves and performance-fabric apparel. Ironclad's products are available at hardware stores, home centers, industrial suppliers, lumberyards, and sporting goods retailers nationwide; and through authorized distributors worldwide.
For more information on Ironclad, please visit http://www.ironclad.com/.
Information about Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Ironclad's products, the introduction of new products, Ironclad's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of Ironclad's liquidity and financial strength to support its growth, and other information that may be detailed from time to time in Ironclad's filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting Ironclad, please refer to the Company's recent Securities and Exchange filings, which are available at http://www.sec.gov/. Ironclad undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts
Scott Jarus, CEO
(310) 643-7800 x120
Chris Miller, Director of Marketing
(310) 643-7800 x127
Photo: http://www.newscom.com/cgi-bin/prnh/20060511/LATH052LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Ironclad Performance Wear Corporation
CONTACT: Scott Jarus, CEO, +1-310-643-7800, ext. 120, or Chris Miller, Director of Marketing, +1-310-643-7800, ext. 127, both of Ironclad Performance Wear Corporation
Web Site: http://www.ironclad.com/
Universal CityWalk(R) Sizzles With Opening of Samba, New Brazilian Steakhouse & Lounge Featuring Mouth-Watering Churrasco Fare, Pulsing Samba Music and Spirited Dancers
UNIVERSAL CITY, Calif., Nov. 4 /PRNewswire/ -- Universal CityWalk® spices up its eclectic array of culinary cuisine with the addition of Samba Brazilian Steakhouse & Lounge, featuring authentic Brazilian churrascaria and free nightly entertainment including colorful Samba dancers and lively Brazilian and Latino music and a dedicated Caipirinha- cocktail bar.
Located in the heart of Universal CityWalk, Samba Brazilian Steakhouse & Lounge offers indoor and al-fresco dining amid elegant but welcoming retro decor. It will also feature dedicated Caipirinha cocktail bar serving nearly two dozen unique variations of Brazil's national cocktail, Caipirinha, including the signature Samba, a Jalapeno-Cucumber, a Basil and Blackberry and a Caipiroska Bubble Gum. A full bar of mixed drinks, beer and wine will also be available to complement the restaurant's traditional Rodizio feasts of skewered meats including lombinho (pork sirloin), coxinha (chicken) and picanha (sirloin steak), all served tableside.
Samba specialties, prepared by world-famous Chef Jason Ryczek, renowned for creating a variety of unique, mouth-watering dishes, will include such palate pleasers as Lobster Mashed Potatoes, Farfoa (yucca flour, toasted with butter, bacon and salt), Portuguese Sausage, Beef Kabobs and Leg of Lamb. Popular All You Can Eat menus, will include a Churrasco Feast, Gaucho Feast and Champagne Brunch (available on weekends), offering a tempting assortment of authentic Brazilian marinated meats and seafood. Traditional desserts will include a scrumptious Dulce de Leche, Fried Bananas and endless Chocolate Fountain.
Nightly live Samba performers in full festive regalia will entertain with Brazilian and Latin musical accompaniment.
Samba is open daily and features a lounge area for private parties. More information is available at Samba Brazilian Steakhouse & Lounge.
Universal CityWalk, part of Universal Studios Hollywood, features over 60 entertainment-themed restaurants, nightclubs, shops and dynamic entertainment options as well as Universal CityWalk Cinemas, offering the best movie-going experience in Los Angeles.
Universal Studios Hollywood, The Entertainment Capital of L.A., is a unit of Universal Parks & Resorts, a division of NBC Universal. NBC Universal is one of the world's leading media and entertainment companies in the development, production, marketing of entertainment, news, and information to a global audience. Formed in May of 2004 through the combining of NBC and Vivendi Universal Entertainment, NBC Universal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group, and world-renowned theme parks. NBC Universal is 80% owned by General Electric , with 20% controlled by Vivendi.
Universal CityWalk
CONTACT: Lupe Franco-Butler, Hispanic / CityWalk, +1-818-622-9504, lupe.franco-butler@nbcuni.com
Web Site: http://www.citywalkhollywood.com/
ProLogis Closes ProLogis European Properties Fund II Financing- Proceeds Used to Pay Down Warehouse Line -
DENVER, Nov. 4 /PRNewswire-FirstCall/ -- ProLogis , a leading global provider of distribution facilities, announced today it has completed a euro 41.4 million financing on behalf of ProLogis European Properties Fund II (PEPF II). Proceeds from the financing were used to pay down PEPF II's warehouse line of credit.
A European bank based in Austria provided the five-year loan that is secured by a portfolio of six assets in Poland, representing a 52 percent loan-to-value.
"With this financing, we have demonstrated our access to debt capital in the central European region with one of the few new secured real estate loans to be completed there during 2009. We also established a new lending relationship and are pleased that lenders continue to be attracted to the strong and stable cash flows generated by ProLogis' assets," said William E. Sullivan, ProLogis' chief financial officer.
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.
ProLogis
CONTACT: Investors, Melissa Marsden, +1-303-567-5622, mmarsden@prologis.com, or Media, Krista Shepard, +1-303-567-5907, kshepard@prologis.com, both of ProLogis; or Financial Media, Suzannne Dawson of Linden Alschuler & Kaplan, Inc., +1-212-329-1427, sdawson@lakpr.com, for ProLogis
Web Site: http://www.prologis.com/
Gulf Resources Hosts NASDAQ Listing Dinner Celebration in Hong Kong
NEW YORK and SHANDONG, China, Nov. 4 /PRNewswire-Asia-FirstCall/ -- Gulf Resources, Inc. ("Gulf Resources" or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced that the Company hosted a dinner event to celebrate its successful NASDAQ listing on Monday, November 2, 2009 in Hong Kong. As the first company from Shouguang city to be listed on NASDAQ, Gulf Resources has garnered strong support and interest from the local government. The Mayor and Vice Mayors of Shouguang city, representatives of local government branches, investors, and the NASDAQ Asia-Pacific head attended the reception.
"Gulf Resources is the first company from Shouguang city to be listed on NASDAQ Global Select Market. On behalf of the Shouguang municipal government and its population, I want to congratulate Gulf Resources for reaching this milestone," said the Mayor of Shouguang City, Shandong Province. "We are very supportive of Gulf Resources and its role in consolidating the bromine industry in China. We have a positive outlook on Gulf's ability to increase its market share in the industry. With the support of the local government and NASDAQ, Gulf Resources will solidify its leadership and develop more innovative products in the bromine, crude salt and specialty chemical segments."
"I want to acknowledge the hard work and dedication of Gulf Resources management and thank the leaders from municipal government, investors, NASDAQ and other friends for their long-term support. Gulf Resources has grown from a small bromine producer into a solid market leader in China," said Mr. Xiaobin Liu, Chief Executive Officer of Gulf Resources. "As we have reached another milestone with the NASDAQ listing, we will focus on continued growth to improve our core advantage and profitability, and maximize value for our shareholders."
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through two wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited ("SCHC") and Shouguang Yuxin Chemical Industry Co., Limited ("SYCI"). The Company believes that it is one of the largest producers of bromine in China. Elemental Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. Through SYCI, the Company manufactures chemical products utilized in a variety of applications, including oil & gas field explorations and as papermaking chemical agents. For more information about the Company, please visit http://www.gulfresourcesinc.cn/
Forward-Looking Statements
Certain statements in this news release contain forward-looking information about Gulf Resources and its subsidiaries business and products within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. The actual results may differ materially depending on a number of risk factors including, but not limited to, the general economic and business conditions in the PRC, future product development and production capabilities, shipments to end customers, market acceptance of new and existing products, additional competition from existing and new competitors for bromine and other oilfield and power production chemicals, changes in technology, the ability to make future bromine asset purchases, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in the Company's reports filed with the Securities and Exchange Commission. Gulf Resources undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
For more information, please contact:
Gulf Resources, Inc.
David Wang, VP of Finance
Email: davidw@gulfresourcesinc.cn
gfre.2008@vip.163.com
Helen Xu
Email: xuhy@gulfresourcesinc.cn
beishengrong@vip.163.com
Web: http://www.gulfresourcesinc.cn/
CCG Investor Relations
Mr. Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Ms. Linda Salo, Financial Writer
Tel: +1-646-922-0894
Email: linda.salo@ccgir.com
Web: http://www.ccgirasia.com/
Gulf Resources, Inc.
CONTACT: Gulf Resources, Inc. - David Wang, VP of Finance, davidw@gulfresourcesinc.cn, or gfre.2008@vip.163.com; Helen Xu, xuhy@gulfresourcesinc.cn, or beishengrong@vip.163.com; CCG Investor Relations - Mr. Crocker Coulson, President, +1-646-213-1915, or crocker.coulson@ccgir.com; Ms. Linda Salo, Financial Writer, +1-646-922-0894, or linda.salo@ccgir.com
Web Site: http://www.gulfresourcesinc.cn/
China Industrial Waste Management Provides Update on Dongtai Organic Waste Treatment Project
DALIAN, China, Nov. 4 /PRNewswire-Asia/ -- China Industrial Waste Management, Inc. (BULLETIN BOARD: CIWT) ("China Industrial Waste Management" or the "Company"), a leading environmental services and solutions provider in China, today announced construction and regulatory progress related to the Build-Operate-Transfer ("BOT") municipal sludge treatment and disposal facility in Dalian, China (the "Project") that is being developed by the Company's subsidiary Dongtai Organic Waste Treatment Co. Ltd. ("Dongtai Organic").
The Company announced that six of the Project's 12 fermentation tanks are now complete and have passed examination by the Dalian Municipal Urban Construction Administration Engineering Technology Agency and that a biogas pipe network has been built. Upon launch, the Project's 12 tanks will be able to process 600 tons of municipal sludge per day and generate 25,000 to 30,000 cubic meters of biogas per day. The biogas generated by these tanks will be distributed through the network to end-users in Dalian as a supplement to the gas currently being supplied by the municipality. Dongtai Organic can yield revenues from the sale of this biogas.
Dongtai Organic is developing the first sludge treatment plant in Dalian designed and built in the mode of a BOT project, with a 20-year operating term. The project was commenced in April 2007 and is expected to be operational in early 2010. As required by the BOT contract, the government will supply raw material (municipal sludge), and pay processing fees to Dongtai Organic. China Industrial Waste Management has a 49% ownership interest in Dongtai Organic via its 90%-owned subsidiary Dalian Dongtai Industrial Waste Treatment Co., Ltd. ("Dongtai"). The total cost for the Project is approximately RMB 129 million ($18 million), of which Dongtai's share is RMB 63 million ($9 million).
"The development of the Dongtai Organic Waste Treatment Project is an important step in China Industrial Waste Management's strategy of expanding into municipal sewage and sludge treatment BOT projects," said Mr. Jinqing Dong, the Company's Chief Executive Officer. "We believe that a well-operated BOT project will gain attention and social recognition from the local government and business community, which may, in turn, provide additional business opportunities for similar projects in China. Our returns from BOT projects are derived from fees paid by the government and sales of biogas. Such BOT projects are able to generate a steady and recurring source of income for us over a sustained period of time of between 20 and 25 years."
About China Industrial Waste Management, Inc.
China Industrial Waste Management, Inc. is engaged in the collection, treatment, disposal and recycling of industrial wastes principally in Dalian and surrounding areas in Liaoning Province, People's Republic of China through its 90%-owned subsidiary Dalian Dongtai Industrial Waste Treatment Co., Ltd. ("Dongtai") and other indirect subsidiaries. Dongtai treats, disposes of and/or recycles many types of industrial wastes, and recycled waste products used by customers as raw material to produce chemical and metallurgy products. In addition, Dongtai treats or disposes of industrial waste through incineration, burial or water treatment, and provides environmental protection services, technology consultation, pollution treatment services, waste management design processing services, waste disposal solutions, waste transportation services, onsite waste management services, and environmental pollution remediation services. For more information, please visit the Company's website (http://www.chinaciwt.com/ ).
Cautionary Statement Regarding Forward-Looking Information
This release may include "forward-looking statements." You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contain such words as "may," "project," "might," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or the negative or other variations thereof or comparable terminology. These forward-looking statements are based on current expectations and projections about future events. Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified and, consequently, our actual performance may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors, as well as other factors described from time to time in our reports filed with the Securities and Exchange Commission: the launch and successful operation of the Dongtai Organic Waste Treatment Project, the timing and magnitude of technological advances; the prospects for future acquisitions; the effects of political, economic and social uncertainties regarding the governmental, economic and political circumstances in the People's Republic of China, the possibility that a current customer could be acquired or otherwise be affected by a future event that would diminish their waste management requirements; the competition in the waste management industry and the impact of such competition on pricing, revenues and margins; uncertainties surrounding budget reductions or changes in funding priorities of existing government programs and the cost of attracting and retaining highly skilled personnel; our projected sales, profitability, and cash flows; our growth strategies; anticipated trends in our industries; our future financing plans; and our anticipated needs for working capital. Forward-looking statements speak only as of the date on which they are made, and, except to the extent required by federal securities laws, we undertake no obligation to update any forward- looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
For more information, please contact:
Company Contact:
Ms. Guo Xin, CFO
Tel: +86-411-8581-1229
Email: hellenguo@chinaciwt.com
Mr. Zhang Dazhi, Company Secretary
Tel: +86-411-8259-5339
Email: darcy.zhang@chinaciwt.com
Web: http://www.chinaciwt.com/
CCG Investor Relations:
Mr. Athan Dounis, Account Manager
Tel: +1-646-213-1916
Email: athan.dounis@ccgir.com
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com/
China Industrial Waste Management, Inc.
CONTACT: Ms. Guo Xin, CFO, +86-411-8581-1229, hellenguo@chinaciwt.com, or Mr. Zhang Dazhi, Company Secretary, +86-411-8259-5339, darcy.zhang@chinaciwt.com; CCG Investor Relations: Mr. Athan Dounis, Account Manager, +1-646-213-1916, athan.dounis@ccgir.com, or Mr. Crocker Coulson, President, +1-646-213-1915 (New York), crocker.coulson@ccgir.com
Web site: http://www.chinaciwt.com/ http://www.ccgirasia.com/
China Nutrifruit Group Limited to Present at Brean Murray, Carret & Co. 2009 China Growth Conference
DAQING, China, Nov. 4 /PRNewswire-Asia-FirstCall/ -- China Nutrifruit Group Limited (NYSE Amex: CNGL) ("China Nutrifruit" or "the Company"), a leading producer of premium specialty fruit based products in China ("PRC"), announced that the Company's management will present at the upcoming Brean Murray, Carret & Co. 2009 China Growth Conference in New York, NY on November 19-20, 2009.
The date, time and location of China Nutrifruit's presentation at the 2009 China Growth Conference are as follows:
Date: Friday, November 20, 2009
Time: 8:00 a.m. to 8:35 a.m. Eastern Time in Track I
Presenter: Colman Cheng, Chief Financial Officer
Venue: The Millennium Broadway Hotel
145 West 44th Street
New York, New York 10036
The Brean Murray, Carret & Co. 2009 China Growth Conference will be held November 19-20, 2009 at the Millennium Broadway Hotel in New York City and 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, 1x1 meetings will also be offered throughout the day.
About China Nutrifruit Group Limited
Through its subsidiary Daqing Longheda Food Company Limited, China Nutrifruit, is engaged in developing, processing, marketing and distributing a variety of food products processed primarily from premium specialty fruits grown in Northeast China, including golden berry, crab apple, blueberry and raspberry. The Company's processing facility possesses ISO9001 and HACCP series qualifications. Currently, the Company has established an extensive nationwide sales and distribution network through 70 distributors in China. For more information, please visit http://www.chinanutrifruit.com/ .
For more information, please contact:
Mr. Crocker Coulson, President
CCG Investor Relations
Phone: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com/
Mr. Colman Cheng, Chief Financial Officer
China Nutrifruit Group Limited
Phone: +852-9039-8111
Email: zsj@longheda.net
Web: http://www.chinanutrifruit.com/
China Nutrifruit Group Limited
CONTACT: Crocker Coulson, President of CCG Investor Relations, +1-646-213-1915 (New York), crocker.coulson@ccgir.com; or Colman Cheng, Chief Financial Officer of China Nutrifruit Group Limited, +852-9039-8111, zsj@longheda.net
Web site: http://www.chinanutrifruit.com/ http://www.ccgirasia.com/
Orient Paper, Inc to Present at Brean Murray, Carret & Co. 2009 China Growth Conference
BAODING, Hebei, China, Nov. 4 /PRNewswire-Asia-FirstCall/ -- Orient Paper, Inc. (BULLETIN BOARD: OPAI) ("Orient Paper" or the "Company"), which controls and operates Hebei Baoding Orient Paper Milling Co., Ltd. ("HBOP"), a leading manufacturer and distributor of diversified paper products in Hebei, China, announced that the Company's management will present at the upcoming Brean Murray, Carret & Co. 2009 China Growth Conference in New York, NY on November 19-20, 2009.
The date, time and location of Orient Paper's presentation at the 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 IV
Presenter: Mr. Winston Yen, Chief Financial Officer
Venue: The Millennium Broadway Hotel
145 West 44th Street
New York, New York 10036
The Brean Murray, Carret & Co. 2009 China Growth Conference will be held November 19-20, 2009 at the Millennium Broadway Hotel in New York City and 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, 1x1 meetings will also be offered throughout the day.
About Orient Paper, Inc.
Orient Paper, Inc., through its wholly owned subsidiaries, Shengde Holdings, Inc. and Baoding Shengde Paper Co., Ltd., controls and operates Hebei Baoding Orient Paper Milling Co., Ltd ("HBOP"). Founded in 1996, HBOP is engaged in the production and distribution of products such as corrugated paper, offset paper, writing paper, and other paper and packaging-related products in China. The Company uses recycled paper as its primary raw material. As one of the largest paper producers in Hebei Province, China, the Company is strategically located in Baoding, a city in close proximity to Beijing where the majority of publishing houses are based. Orient Paper is led by an experienced management team committed to diversifying the Company's product offering and delivering tailored services to its customers. For more information, please visit http://www.orientalpapercorporation.com/ .
For more information, please contact:
CCG Investor Relations
Mr. Crocker Coulson, President
Phone: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com/
Orient Paper, Inc.
Winston Yen, CFO
Tel: +1-562-818-3817 (Los Angeles)
Email: info@orientalpapercorporation.com
Orient Paper, Inc.
CONTACT: Winston Yen, CFO of Orient Paper, Inc., +1-562-818-3817 (Los Angeles), info@orientalpapercorporation.com; or Crocker Coulson, President of CCG Investor Relations, +1-646-213-1915 (New York), crocker.coulson@ccgir.com
Web site: http://www.orientalpapercorporation.com/
Numerex Corp Retires Remaining Structured Debt
ATLANTA, Nov. 4 /PRNewswire-FirstCall/ -- Numerex Corp. , a leading single source provider of secure machine-to-machine (M2M) products and services, announced today that it has repaid all but $500 thousand of its remaining $2 million of long-term structured debt, the balance of which is scheduled to be paid on January 29, 2010. Part of the transaction included a conversion of $1.047 million of its debt into an aggregate of 225,296 shares of Class A Common Stock.
"We are pleased to report that all, but a small portion, of our outstanding structured debt has been repaid," stated Alan Catherall, CFO of Numerex. "This final transaction significantly strengthens the Company's balance sheet and simplifies its capital structure. The series of borrowings from 2004 through 2006 was very timely and assisted us greatly in executing our growth strategy. The shift in our strategy to de-emphasize low margin hardware sales and focus on our key M2M subscription-based business has generated excess cash and reduced working capital requirements. As a result, in the past four months, we have retired $9 million in long-term structured debt while improving current ratios. Also, we believe that this debt reduction will prove accretive."
In connection with the conversion, Numerex will also be writing-off all unamortized financing costs related to the debt reduction. This non-cash expense is approximately $120,000 and will be reported in our fourth quarter results.
About Numerex
Numerex Corp. is the single source machine-to-machine (M2M) product and service provider to some of the world's largest organizations delivering the foundational components of device, network, and application, used by its customers in the development of their M2M solutions. Customers typically subscribe to Numerex network and application services that are delivered through its hosted platforms. The Company's offerings and expertise enable its customers to efficiently build reliable and secure solutions that are used to monitor and manage assets remotely whenever and wherever needed, while simplifying and speeding up development and deployment. Numerex DNA(TM) offerings include hardware Devices, Network services, and software Applications that are delivered through its Numerex FAST(TM) (Foundation Application Software Technology) platform. Numerex is the first M2M service provider in North America to carry the ISO 27001 information security certification. "Machines Trust Us(TM)" represents the Company's focus on M2M data security, service reliability, and round-the-clock support of its customers' M2M solutions. For additional information, please visit http://www.numerex.com/.
This press release contains, and other statements may contain, forward-looking statements with respect to Numerex future financial or business performance, conditions or strategies and other financial and business matters, including expectations regarding growth trends and activities in the wireless data business. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "intend," "estimate," "assume," "strategy," "plan," "outlook," "outcome," "continue," "remain," "trend," and variations of such words and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may," or similar expressions. Numerex cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. These forward-looking statements speak only as of the date of this press release, and Numerex assumes no duty to update forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements and future results could differ materially from historical performance.
The following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: our inability to reposition our platform to capture greater recurring service revenues, difficulties associated with integrating Orbit One's business, the risks that a substantial portion of Orbit One's revenues are derived from government contracts that may be terminated by the government at any time, variations in quarterly operating results, delays in the development, introduction, integration and marketing of new wireless services; customer acceptance of services; economic conditions; changes in financial and capital markets; the inability to attain revenue and earnings growth in our wireless data business; changes in interest rates; inflation; the introduction, withdrawal, success and timing of business initiatives and strategies; competitive conditions; the inability to realize revenue enhancements; and extent and timing of technological changes. Numerex SEC reports identify additional factors that can affect forward-looking statements.
Numerex Corp. Contact:
Alan Catherall
770 485-2527
Investor Relations Contact:
Seth Potter
646 277-1230
Numerex Corporation
CONTACT: Numerex Corp. Contact: Alan Catherall, +1-770-485-2527, or Investor Relations Contact: Seth Potter, +1-646-277-1230
Web Site: http://www.numerex.com/
Alan Jackson Will Meet Fans in Downtown Nashville CMA WeekCracker Barrel constructs a "pop-up" store that will feature the Alan Jackson Collection; store is dedicated to country music and lifestyle merchandise
LEBANON, Tenn., Nov. 4 /PRNewswire-FirstCall/ -- Country music fans coming to Nashville during CMA Week will have the opportunity to meet Alan Jackson at a new attraction - a temporary Cracker Barrel Old Country Store® retail shop right in the middle of downtown, at lst & Broadway. This one-week-only attraction, open November 7th - l2th (see hours below), will be dedicated to country music and the lifestyle its fans enjoy, and feature the newly released Alan Jackson Collection. The highlight of the week will be an in-store appearance by superstar Alan Jackson on Tuesday, November l0, 9:00 a.m. - 11:00 a.m.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090518/NY17634LOGO )
Photos of The Alan Jackson Collection: http://www.dbaronmedia.com/component/option,com_phocagallery/Itemid,100/id,1/v iew,category/
When guests visit this "pop-up" store, they will enjoy the same Cracker Barrel hospitality they have come to expect from the popular restaurant concept, just without the biscuits. "We wanted to create something special for country music fans right in the heart of downtown Nashville to help celebrate CMA Week," said Cracker Barrel's Vice President of Marketing Peter Keiser. "Building a temporary store that features all 40+ items in The Alan Jackson Collection, as well as other Cracker Barrel retail merchandise related to music and our branded food products, is a good way to provide some extra excitement during CMA Week, a very special time for country music fans," Keiser added. "While we couldn't build a whole kitchen in this temporary store, we invite fans to also come on over to one of the many other Cracker Barrel restaurants in the Nashville area for some good country cookin.'"
Alan Jackson has an international reputation built up over twenty years of performing and recording, but he rarely makes public appearances like this, preferring to spend his off-stage time privately with his family. He decided to meet up with fans at this special Cracker Barrel location because he believes in the quality of this merchandise collection and because he likes the food at Cracker Barrel himself! "I grew up in the South, so Cracker Barrel has been a part of my family since I was a young man," says Alan Jackson. "I was really flattered when they came to me with the idea of working together to create a collection for their country store, and I've been very impressed with the variety and quality of the items that we have put together. I think my fans and their families will appreciate everything in the collection."
THE CRACKER BARREL 'POP UP' OLD COUNTRY STORE - HOURS
101 Broadway, Nashville, TN
SATURDAY, NOVEMBER 7 11:00am-7:00pm
SUNDAY, NOVEMBER 8 12:00pm-6:00pm
MONDAY, NOVEMBER 9 11:00am-6:00pm
TUESDAY, NOVEMBER 10 6:00am-6:00pm (Alan Jackson 9:00-ll:00am)
(Starting at 6:00 AM, fans who purchase an item from The Alan Jackson
Collection will be able to get numbered tickets for a place in the
autograph line. Tickets will be available on a first-come, first-served
basis. Alan Jackson will meet as many fans as possible during the time
period and will autograph merchandise from The Alan Jackson Collection)
WEDNESDAY, NOVEMBER 11 11:00am-6:00pm
THURSDAY, NOVEMBER 12 11:00am-6:00pm
In addition to Alan Jackson merchandise and his exclusive new CD, Songs of Love and Heartache, other titles in Cracker Barrel's exclusive music program will be available for country music fans. Cracker Barrel's impressive exclusive music program features numerous projects, including the September release of an exclusive new version of The Foundation by the Zac Brown Band, which contained three previously unreleased live tracks. That followed August's George Jones release of A Collection Of My Best Recollection, May's release of Montgomery Gentry's For Our Heroes, which debuted at #5 on Billboard magazine's Top Country Album Chart, and March's release of Dolly Parton's Collectors' Edition of Backwoods Barbie, which debuted at #9 on that chart. The series also includes a number of exclusive releases in 2008 - November's release of Bill Gaither's Homecoming Hymns, the August release of Kenny Rogers: 50 Years, the July release of Ricky Skaggs' The High Notes and the April release of Aaron Tippin's He Believed. Over the last few years, Cracker Barrel has also released exclusive CDs featuring, among others, Alison Krauss & Union Station, Josh Turner, Amy Grant, Sara Evans, and Charlie Daniels.
About Cracker Barrel
Cracker Barrel Old Country Store restaurants provide a friendly home-away-from-home in its old country stores and restaurants. Guests are cared for like family while relaxing and enjoying real home-style food and shopping that's surprisingly unique, genuinely fun and reminiscent of America's country heritage...all at a fair price. The restaurant serves up delicious, home-style country food such as meatloaf and homemade chicken n' dumplins as well as its signature biscuits using an old family recipe. The authentic old country retail store is fun to shop and offers unique gifts and self-indulgences.
Cracker Barrel Old Country Store, Inc. was established in 1969 in Lebanon, Tenn. and operates 593 company-owned locations in 41 states. Every Cracker Barrel unit is open seven days a week with hours Sunday through Thursday, 6 a.m. - 10 p.m., and Friday and Saturday, 6 a.m. - 11 p.m. For more information, visit: crackerbarrel.com.
Photo: http://www.newscom.com/cgi-bin/prnh/20090518/NY17634LOGO
Cracker Barrel
CONTACT: Diana Baron, +1-310-315-5444, diana@dbaronmedia.com, of dbaron media relations inc, for Alan Jackson; or Kirt Webster, +1-615-777-6995, kirt@websterpr.com, of Webster & Associates PR, for Cracker Barrel Old Country Store, Inc.; or Julie Davis, +1-615-443-9266, jdavis@crackerbarrel.com, of Cracker Barrel
Web Site: http://www.crackerbarrel.com/
Simtrol, Inc. Releases Business Update Letter to Shareholders
NORCROSS, Ga., Nov. 4 /PRNewswire-FirstCall/ -- Simtrol, Inc. (OTC Bulletin Board: SMRL), an innovative developer of enterprise-class software solutions that manage the extended network of connected devices, today issued a business update letter to shareholders from Mr. Oliver Cooper, President and Chief Executive Officer, on its public website.
A copy of the letter is available here.
About Simtrol
Simtrol enables enterprises to manage an increasingly complex world. Simtrol's flagship Device Manager(TM) software powers enterprise-wide solutions that manage, control, maintain, and diagnose non-traditional connected assets. For more information about Simtrol, please visit http://www.simtrol.com/.
This announcement may contain forward-looking statements pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements involve risks and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, development difficulties, foreign currency risks, costs of capital, continued certification by credit card associations, the ability to consummate and integrate acquisitions, and other risks detailed in the Company's SEC filings, including the most recently filed Form 10-Q or Form 10-K, as applicable. The Company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events.
Device Manager is a trademark of Simtrol, Inc. All other brands, logos, products or company names are the copyrights and/or trademarks of their respective holders.
Contact-Investor Relations
Phone: 678-533-1292
Email: simtrolir@simtrol.com
Simtrol, Inc.
CONTACT: Investor Relations of Simtrol, Inc., +1-678-533-1292, simtrolir@simtrol.com
Web Site: http://www.simtrol.com/
WPCS Completes Acquisition of Australia Based Pride Electronic Security Systems
EXTON, Pa., Nov. 4 /PRNewswire-FirstCall/ -- WPCS International Incorporated , a leader in design-build engineering services for communications infrastructure, has announced that it has completed the acquisition of Pride Electronic Security Systems located in Queensland, Australia. The purchase price included a payment at closing of AUD $2 million with a potential of up to an additional AUD $2 million of purchase price based on the achievement of certain earnings goals over the next two years.
Founded in 1997, Pride Electronic Security Systems is an electrical and security services provider specializing in the commercial and government sectors. The company focuses on low voltage security installations, alarm systems, video surveillance and access controls. The company has established a stellar reputation for high quality services and maintains a strong customer base which includes the Queensland Police, Queensland Rail, Sunshine Coast District Health Service and General Water Australia.
Historically profitable, Pride Electronic Security Systems generated AUD $7.6 million in revenue and approximately AUD $900,000 in earnings before interest and taxes (EBIT) for their recent fiscal year ended June 30, 2009. The company also has a net tangible asset value of approximately AUD $1.2 million. The transaction closed on November 4, 2009 and the company will be assimilated into the WPCS Australian operations.
Robert Paynter, president of Pride Electronic Security Systems, commented, "The security market in Australia is expanding at a rapid pace and it became apparent that it would be beneficial for our growth if we were acquired by a larger organization that can support our leadership role in electrical and security services. WPCS is an ideal partner as they are a successful company that has displayed a commitment to developing the Australian market for communications infrastructure. We are pleased to become part of the WPCS team and look forward to a prosperous and productive future."
Andrew Hidalgo, CEO of WPCS International Incorporated, commented, "The acquisition of Pride Electronic Security Systems is very important for WPCS as it not only adds a financially successful company but also a company with a very talented management team. In addition, the acquisition allows us to strengthen our service capabilities in the Australian public services market through the design and deployment of security systems. We are excited to add such an outstanding company."
About WPCS International Incorporated:
WPCS is a design-build engineering company that focuses on the implementation requirements of communications infrastructure. The company provides its engineering capabilities including wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide. For more information, please visit http://www.wpcs.com/
Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward looking statements.
WPCS International Incorporated
610-903-0400 x101
ir@wpcs.com
WPCS International Incorporated
CONTACT: WPCS International Incorporated, +1-610-903-0400 x101, ir@wpcs.com
Web Site: http://www.wpcs.com/
Dot Hill Systems Qualifies STEC Solid State Drives
CARLSBAD, Calif., Nov. 4 /PRNewswire-FirstCall/ -- Dot Hill Systems Corp. , a world-class provider of entry-level and midrange storage solutions for OEMs and resellers, today announced that Dot Hill is now shipping solid state disk (SSD) drives from STEC, a leading global provider of SSD technology solutions, for use in its iSCSI, SAS and Fibre Channel arrays.
With native SAS drive-attach, STEC drives offer a compelling solution for Dot Hill's first-to-market arrays with twenty four 2.5-inch drives. With no moving parts, SSDs provide fast access time and low latency compared to conventional hard drives. They are used to enable high performance caching in tiered storage applications and high availability storage in military applications such as mobile computing where substantial vibration or motion could cause damage to traditional SATA or SAS hard drives. Further, SSDs are more rugged than hard disks, operate silently, and can tolerate a broader range of environmental conditions and altitudes. For these reasons, early adopters of SSDs in RAID arrays have included military, government, and telecommunications customers.
"STEC leverages 15 years of knowledge and experience to deliver the industry's most comprehensive line of solid state drives," said Manouch Moshayedi, chairman and chief executive officer of STEC. "Understanding the needs of ruggedized storage systems and the suitability of SSDs for those applications, we are excited about driving SSD adoption beyond the conventional enterprise usage models to create new and exciting avenues for growth of our SSDs. Coupled with Dot Hill's extensive experience in delivering innovative RAID technology for mobile military applications, our two companies are poised to deliver best-of-breed, ruggedized storage solutions that meet the numerous demands of this important market."
"The modular architecture of Dot Hill arrays allows us to deliver high-performance, scalable storage solutions that are implemented in the harshest of environments," said Andy Mills, vice president of marketing and business development, Dot Hill. "Utilizing STEC's line of highly dependable SSDs, we are now able to offer the market an entirely new level of reliability for the most challenging conditions. Dot Hill has provided storage to government and military applications for many years and we are pleased to further expand on this legacy."
Specific Dot Hill arrays qualified and now shipping with STEC drives include Dot Hill 2322, 2332 iSCSI, 2522, 2532 SAS, and 2722, 2732 Fibre Channel RAID arrays.
Dot Hill R/Evolution(TM) Architecture Provides Competitive Advantage for OEMs and Resellers
Dot Hill next generation RAID arrays are based on the highly modular, highly dynamic Dot Hill R/Evolution(TM) Architecture, which is designed to rapidly evolve and support OEM technology and enable OEMs and VARs to quickly achieve sustainable, competitive advantage in the volume storage market.
The R/Evolution Architecture delivers high levels of performance, storage density, time-to-market leadership and configuration flexibility. Using modular and bladed components, the R/Evolution Architecture provides OEMs and VARs with a "configure-to-product" model, supporting both product differentiation and rapid time- to-market for volume storage market solutions.
About Dot Hill
Delivering innovative technology and global support, Dot Hill empowers OEMs and resellers to bring unique storage solutions to market, quickly, easily and cost-effectively. Offering high performance and industry-leading uptime, Dot Hill's RAID technology is the foundation for best-in-class storage solutions offering enterprise-class security, availability and data protection. The company's products are in use today by the world's leading service and equipment providers, common carriers, advanced technology and telecommunications companies as well as government agencies. Dot Hill solutions are certified to meet rigorous industry standards and military specifications, as well as RoHS and WEEE international environmental standards. Headquartered in Carlsbad, Calif., Dot Hill has offices and/or representatives in China, Germany, Japan, United Kingdom and the United States.
For more information, visit: http://www.dothill.com/
HILL-G
Certain statements contained in this press release regarding matters that are not historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by the statements. Forward-looking statements include statements regarding: the size and timing of orders for Dot Hill product due its collaboration with STEC; any improvement in Dot Hill's financial results due to the collaboration; the performance, benefits or level of ruggedization of the technology described in the press release in any particular environment; the continued availability of the technology; and the level of customer interest in the technology. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such statements. The risks that contribute to the uncertain nature of the forward-looking statements include: the fact that technology is somewhat new to the market and therefore Dot Hill has limited experience with respect to the technology as well as demand for it; changing customer preferences in the open systems computing market; and unforeseen supply, technological, intellectual property or engineering issues. However, there are many other risks not listed here that may affect the future business of Dot Hill, as well as the forward-looking statements contained herein. To learn about such risks and uncertainties, you should read the risk factors set forth in the company's public filings with the SEC, including the Forms 8-K, 10-K and 10-Q most recently filed by Dot Hill. All forward-looking statements contained in this press release speak only as of the date on which they were made. Dot Hill undertakes no obligation to update such statements to reflect any change in circumstances or events.
Dot Hill Systems Corp.
CONTACT: Steve Sturgeon of Lutz PR, +1-858-472-5669, ssturgeon@san.rr.com, for Dot Hill; or Ruth Macdonald, Marketing Communications Manager of Dot Hill, +1-720-839-6614, ruth.macdonald@dothill.com
Web Site: http://www.dothill.com/
Martha Stewart Living Omnimedia Reports Third Quarter 2009 ResultsImproved Performance in Publishing and Strong Internet Performance Expected in the Fourth Quarter
NEW YORK, Nov. 4 /PRNewswire-FirstCall/ -- Martha Stewart Living Omnimedia, Inc. today announced its results for the third quarter ended September 30, 2009. The Company reported revenue for the third quarter of $49.8 million, as the recessionary environment continued to impact advertising revenue. Ongoing merchandising businesses performed well in the quarter while the announcement of a new relationship with The Home Depot® and an upcoming line of pet-related products at PetSmart underscore the strength of the brand and its appeal to consumers.
Charles Koppelman, Executive Chairman and Principal Executive Officer, said, "Martha Stewart brands continue to attract a loyal customer base as demonstrated by our steady print subscriber bases, strong 'omni' marketing programs, and growing online user metrics. We are already seeing improved results in Publishing and strong results in Internet advertising in the fourth quarter. The enduring popularity of our products, even in difficult economic times, is encouraging as we continue to build and expand our Merchandising business. We look forward to January, when we begin a new era for Martha Stewart Living Omnimedia with The Home Depot, giving us a distribution platform at the world's largest home improvement retailer."
Robin Marino, President and Chief Executive Officer of Merchandising, stated: "Retail sales of Martha Stewart products were solid in the quarter, with a strong performance by the Martha Stewart Collection at Macy's and Martha Stewart Crafts at Michaels. Our new relationship with The Home Depot and our upcoming pet accessories line at PetSmart further diversify our business and broaden our reach. With these solid businesses in place, we are delivering on our long-term vision to partner with the best and offer our high-quality products where consumers expect to find us."
Third Quarter 2009 Summary
Revenues were $49.8 million in the third quarter of 2009, compared to $66.5 million in the third quarter of 2008. The decrease in revenue is primarily attributable to declines in advertising revenue and lower merchandising revenues partially due to the final revenue true-up from Sears Canada in last year's third quarter.
Operating loss for the third quarter of 2009 was $(11.7) million, compared to $(3.5) million for the third quarter of 2008.
Adjusted EBITDA loss for the third quarter of 2009 was $(5.6) million, compared to Adjusted EBITDA of $0.6 million in the prior-year period. The third quarter of 2008 included charges related to staff reductions and other non-recurring corporate costs, which negatively impacted the operating loss by $3.5 million and Adjusted EBITDA by $3.2 million.
Net loss per share was $(0.22) for the third quarter of 2009, compared to $(0.07) for the third quarter of 2008.
Third Quarter 2009 Results by Segment
Three Months Ended, September 30
(unaudited, in thousands)
2009 2008
--------- ---------
REVENUES
Publishing $27,053 $34,544
Broadcasting 11,036 14,320
Internet 2,761 3,032
Merchandising 8,931 14,616
--------- ---------
Total Revenues $49,781 $66,512
========= =========
ADJUSTED EBITDA
Publishing $(1,457) $2,972
Broadcasting 1,893 2,979
Internet (1,415) (1,054)
Merchandising 4,252 8,765
Corporate (8,850) (13,084)
--------- ---------
Total Adjusted EBITDA $(5,577) $578
========= =========
OPERATING (LOSS)/INCOME
Publishing $(2,480) $2,088
Broadcasting 757 2,546
Internet (2,070) (1,509)
Merchandising 3,524 8,581
Corporate (11,412) (15,238)
--------- ---------
Total Operating (Loss)/Income $(11,681) $(3,532)
========= =========
Publishing
Revenues in the third quarter of 2009 were $27.1 million, compared to $34.5 million in the prior year's third quarter, due to a decline in advertising pages, subscription revenue and lower newsstand sales.
Operating loss was $(2.5) million for the third quarter of 2009, compared to operating income of $2.1 million in the third quarter of 2008.
Adjusted EBITDA loss was $(1.5) million in the third quarter of 2009, compared to Adjusted EBITDA of $3.0 million in the prior year's quarter.
Highlights
-- The December issue of Martha Stewart Living arrives on newsstands this
month; it will be the biggest issue of the year and bigger than last
year's December issue.
-- Martha Stewart's Dinner at Home hit The New York Times' bestseller
list within days of its October 13th publication.
-- Martha Stewart Weddings, the bestselling bridal magazine on
newsstands, is celebrating its fifteenth anniversary, a milestone that
coincides with the November launch of the brand's first-ever national
online Luxury Wedding Expo and a special issue dedicated to
destination weddings.
-- MSLO was honored for excellence at Media Industry Newsletter's
Integrated Marketing Awards in September.
Broadcasting
Revenues in the third quarter of 2009 were $11.0 million, compared to $14.3 million in the third quarter of 2008. Revenues declined due to certain one-time payments in the prior-year period related to Emeril programming and a decrease in overall advertising revenue, partially offset by the benefit of accelerating revenue due to the termination of a marketing agreement.
Operating income was $0.8 million for the third quarter of 2009, compared to operating income of $2.5 million in the third quarter of 2008.
Adjusted EBITDA was $1.9 million for the third quarter of 2009, compared to $3.0 million in the prior year's third quarter.
Highlights
-- The Martha Stewart Show launched its fifth season on September 14th
shortly after receiving a Daytime Emmy Award for Art Direction/Set
Direction/Scenic Design for the show's fourth season.
-- The second season of "Whatever, Martha!" on Fine Living Network
premiered on September 23rd and remains one of the network's top-rated
original series.
-- Martha Stewart Living Radio on SIRIUS channel 112 and XM Radio 157 is
preparing for its three-day Thanksgiving hotline featuring 30 chefs
and other experts in 30 hours, including Martha, Emeril, Mario Batali,
Lidia Bastianich, Nigella Lawson, Thomas Keller, Jean-Georges
Vongerichten and more.
Internet
Revenues were $2.8 million in the third quarter of 2009, compared to $3.0 million in the third quarter of 2008. Page views increased from the prior-year period but revenues declined modestly due to timing of advertiser spending and lower advertising rates.
Operating loss was $(2.1) million in the third quarter of 2009, compared to $(1.5) million in the third quarter of 2008.
Adjusted EBITDA loss was $(1.4) million in the third quarter of 2009, compared to $(1.1) million in the third quarter of 2008.
Highlights
-- MSLO's digital properties had record traffic in October with 131.4
million page views and 5.6 million unique visitors.
-- Consumer engagement across MSLO's websites continued to be strong in
the third quarter; page views increased 73% and unique visitors grew
39% year-over-year while page views per unique visitor increased 25%
in the same period.
-- Traffic to Martha's blog surged to 11.4 million page views, compared
to 2.2 million page views in the prior year's quarter.
Merchandising
Revenues were $8.9 million for the third quarter of 2009, as compared to $14.6 million in the prior year's third quarter. The prior-year results benefited from the final revenue true-up from Sears Canada, a relationship that ended in the third quarter of 2008. In addition, the 2009 third quarter results include expected lower royalty revenue from Kmart as the relationship winds down.
Operating income was $3.5 million for the third quarter of 2009, compared to $8.6 million in the third quarter of 2008.
Adjusted EBITDA was $4.3 million for the third quarter of 2009, compared to $8.8 million in the prior year's third quarter. Excluding Kmart and Sears Canada in both periods, Adjusted EBITDA increased 27% from the prior year's third quarter.
Highlights
-- MSLO and The Home Depot announced an agreement to develop an exclusive
Martha Stewart Living brand of home improvement products in select
categories, including Outdoor Living, Home Storage and Organization
and Home Décor. Products are expected to start rolling out in The Home
Depot stores across both the U.S. and Canada beginning in January
2010. Both companies are in the process of developing additional
product offerings that will be available in 2010, and more details
will be announced in the first part of next year.
-- The Martha Stewart Collection exclusively at Macy's continues to
perform well, benefiting from expanded food preparation offerings and
a refined textile assortment. Year-over-year sales trends in the
quarter were positive.
-- MSLO entered into a multi-year relationship with Age Group Ltd to
manufacture, market and sell pet-care products, which will be
available at PetSmart, Inc., the largest specialty retailer of
services and solutions for pets. The line is expected to launch in the
second quarter of 2010.
-- Last month, MSLO announced plans with The Hain Celestial Group and
Hain Pure Protein to introduce a new Martha Stewart-branded food line
at retail, including poultry, baking mixes and dried pastas using all
natural, healthy ingredients. This new program extends MSLO's
relationship with Hain Celestial, which is producing Martha Stewart
Clean, a branded line of all-natural cleaning solutions that is
expected to launch nationally in early 2010.
-- Sales of Sandals® Weddings by Martha Stewart(TM), available at Sandals
Resorts and Beaches Resorts across the Caribbean, are underway and the
early results are positive.
-- Emeril's line of All-Clad cookware re-launched in the quarter; retail
sales were positively impacted by his participation on Macy's Culinary
Council and his appearance on HSN.
Corporate
Total Corporate expenses were $(11.4) million in the third quarter of 2009, down from $(15.2) million in the prior year's quarter. Adjusted EBITDA loss was $(8.9) million in the third quarter of 2009 from $(13.1) million in the prior year's quarter, partly reflecting the continued positive impact of the Company's ongoing expense discipline. The third quarter of 2008 included $3.2 million of charges related to staff reduction and other non-recurring corporate costs.
The Company will host a conference call with analysts and investors on November 4 at 11:00 a.m. EST that will be broadcast live over the Internet at http://www.marthastewart.com/ir.
Use of Non-GAAP Financial Information
In addition to using net income to assess the organization's overall financial health, Company management uses net income before interest, taxes, depreciation, amortization non-cash equity compensation and impairment charges ("adjusted EBITDA"), a non-GAAP financial measure, to evaluate the performance of our businesses on a real-time basis. Adjusted EBITDA is considered an important indicator of operational strength, is a direct component of the Company's annual compensation program, and is a significant factor in helping our management determine how to allocate resources and capital. Adjusted EBITDA is used in addition to and in conjunction with results presented in accordance with GAAP. Management considers adjusted EBITDA to be a critical measure of operational health because it captures all of the revenue and ongoing operating expenses of our businesses without the influence of (i) interest charges, which result from our capital structure, not our ongoing business efforts, (ii) taxes, which relate to the overall organizational financial return, not that of any one business, (iii) the capital expenditure costs associated with depreciation and amortization, which are a function of historical decisions on infrastructure and capacity, (iv) the cost of non-cash equity compensation which, as a function of our stock price, can be highly variable, is not necessarily an indicator of current operating performance for any individual business unit, and is amortized over the appropriate period, and (v) non-cash impairment charges, which are impacted by macro-economic conditions and do not necessarily reflect operating performance.
Adjusted EBITDA provides a means to directly evaluate the ability of our business operations to generate returns on a real-time basis. We provide disclosure of adjusted EBITDA because we believe it is useful for investors to have means to assess our performance as we do. While adjusted EBITDA is a customized non-GAAP measure, it also provides a means to analyze value and compare our operating capabilities to those of companies with which we compete, many of which have different compensation plans, depreciation and amortization costs, capital structures and tax burdens. But please note that our non-GAAP results may differ from similar measures used by other companies, even if similar terms are used to identify such measures.
A limitation of adjusted EBITDA is that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues for our overall organization. Management evaluates the costs of such tangible and intangible assets through other financial measures such as capital expenditures. Management also evaluates the cost of capitalized tangible and intangible assets by analyzing returns provided on the capital dollars deployed. A further limitation of adjusted EBITDA is that it does not include stock compensation expense related to our workforce. Adjusted EBITDA should be considered in addition to, and not as a substitute for, net income or other measures of financial performance reported in accordance with GAAP.
About Martha Stewart Living Omnimedia, Inc.
Martha Stewart Living Omnimedia, Inc. (MSLO) is a leading provider of original "how-to" information, inspiring and engaging consumers with unique lifestyle content and high-quality products. MSLO is organized into four business segments: Publishing, Broadcasting, Internet, and Merchandising. MSLO is listed on the New York Stock Exchange under the ticker symbol MSO.
Forward-Looking Statements
We have included in this press release certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts but instead represent only our current beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of our control. These statements include estimates of future financial performance, potential opportunities, expected product line expansions and additions, future acceptability of our content and our businesses and other statements that can be identified by terminology such as "may," "will," "should," "could," "expects," "intends," "plans," "anticipates," "believes," "estimates," "potential" or "continue" or the negative of these terms or other comparable terminology. The Company's actual results may differ materially from those projected in these statements, and factors that could cause such differences include: adverse reactions to publicity relating to Martha Stewart or Emeril Lagasse by consumers, advertisers and business partners; further downturns in national and/or local economies; shifts in our business strategies; a loss of the services of Ms. Stewart or Mr. Lagasse; a loss of the services of other key personnel; a further softening of the domestic advertising market; changes in consumer reading, purchasing and/or television viewing patterns; unanticipated increases in paper, postage or printing costs; operational or financial problems at any of our contractual business partners; the receptivity of consumers to our new product introductions; the inability to add to our partnerships or capitalize on existing partnerships; and changes in government regulations affecting the Company's industries.
Certain of these and other factors are discussed in more detail in the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10Q filed with the Securities and Exchange Commission, especially under the heading "Risk Factors," which may be accessed through the SEC's World Wide Web site at http://www.sec.gov/. The Company is under no obligation to update any forward-looking statements after the date of this release.
Martha Stewart Living Omnimedia, Inc.
Consolidated Statements of Operations
Three Months Ended September 30,
(unaudited, in thousands, except per share amounts)
2009 2008
--------- ---------
REVENUES
Publishing $27,053 $34,544
Broadcasting 11,036 14,320
Internet 2,761 3,032
Merchandising 8,931 14,616
--------- ---------
Total revenues 49,781 66,512
--------- ---------
OPERATING COSTS AND EXPENSES
Production, distribution and editorial 29,732 32,334
Selling and promotion 13,232 15,194
General and administrative 16,402 20,974
Depreciation and amortization 2,096 1,542
--------- ---------
Total operating costs and expenses 61,462 70,044
--------- ---------
OPERATING LOSS (11,681) (3,532)
OTHER (EXPENSE) / INCOME
Interest expense, net (1) -
Income on equity securities - 366
Loss in equity interest - (272)
--------- ---------
Total other (expense) / income (1) 94
LOSS BEFORE INCOME TAXES (11,682) (3,438)
Income tax provision (432) (309)
--------- ---------
NET LOSS $(12,114) $(3,747)
========= =========
LOSS PER SHARE - BASIC AND DILUTED
Net Loss $(0.22) $(0.07)
========= =========
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic and diluted 53,865 53,590
Martha Stewart Living Omnimedia, Inc.
Consolidated Statements of Operations
Nine Months Ended September 30,
(unaudited, in thousands, except per share amounts)
2009 2008
--------- ---------
REVENUES
Publishing $88,938 $121,602
Broadcasting 31,859 36,236
Internet 9,543 9,686
Merchandising 26,867 43,931
--------- ---------
Total revenues 157,207 211,455
--------- ---------
OPERATING COSTS AND EXPENSES
Production, distribution and editorial 87,212 105,090
Selling and promotion 41,569 51,959
General and administrative 43,100 56,329
Depreciation and amortization 5,994 4,422
Impairment charge 12,600 -
--------- ---------
Total operating costs and expenses 190,475 217,800
--------- ---------
OPERATING LOSS (33,268) (6,345)
OTHER (EXPENSE) / INCOME
Interest (expense) / income, net (91) 540
Loss on equity securities (547) (765)
Loss in equity interest (236) (486)
--------- ---------
Total other expense (874) (711)
LOSS BEFORE INCOME TAXES (34,142) (7,056)
Income tax provision (1,190) (597)
--------- ---------
NET LOSS $(35,332) $(7,653)
========= =========
LOSS PER SHARE - BASIC AND DILUTED
Net Loss $(0.66) $(0.14)
========= =========
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic and diluted 53,817 53,256
Martha Stewart Living Omnimedia, Inc.
Consolidated Balance Sheets
(in thousands, except per share amounts)
September 30, December 31,
2009 2008
(unaudited)
--------- ---------
ASSETS
CURRENT ASSETS
Cash and cash equivalents $21,931 $50,204
Short-term investments 12,453 9,915
Accounts receivable, net 33,805 52,500
Inventory 6,274 6,053
Deferred television production costs 4,727 4,076
Other current assets 6,399 3,752
--------- ---------
Total current assets 85,589 126,500
--------- ---------
RESTRICTED CASH 15,000 -
PROPERTY, PLANT AND EQUIPMENT, net 14,969 14,422
GOODWILL, net 45,107 45,107
OTHER INTANGIBLE ASSETS, net 47,560 48,205
OTHER NONCURRENT ASSETS, net 13,614 27,051
--------- ---------
Total assets $221,839 $261,285
========= =========
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued
liabilities $21,561 $27,877
Accrued payroll and related costs 9,858 7,525
Income taxes payable 102 142
Current portion of deferred subscription
income 17,226 22,597
Current portion of other deferred
revenue 19,345 7,582
--------- ---------
Total current liabilities 68,092 65,723
--------- ---------
DEFERRED SUBSCRIPTION REVENUE 5,769 6,874
OTHER DEFERRED REVENUE 4,296 13,334
LOAN PAYABLE 15,000 19,500
DEFERRED INCOME TAX LIABILITY 2,845 1,854
OTHER NONCURRENT LIABILITIES 3,179 3,005
--------- ---------
Total liabilities 99,181 110,290
--------- ---------
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Class A common stock, $0.01 par value,
350,000 shares authorized: 28,034 and
28,204 shares outstanding in 2009 and 2008,
respectively 280 282
Class B common stock, $0.01 par value,
150,000 shares authorized: 26,690 shares
outstanding in 2009 and 2008 267 267
Capital in excess of par value 289,636 283,248
Accumulated deficit (167,359) (132,027)
Accumulated other comprehensive income 609 -
--------- ---------
123,433 151,770
--------- ---------
Less class A treasury stock - 59 shares
at cost (775) (775)
--------- ---------
Total shareholders' equity 122,658 150,995
--------- ---------
Total liabilities and shareholders'
equity $221,839 $261,285
========= =========
Martha Stewart Living Omnimedia, Inc.
Supplemental Disclosures Regarding Non-GAAP Financial Information
Three Months Ended September 30,
(unaudited, in thousands)
The following table presents segment and consolidated financial
information, including a reconciliation of operating income/(loss), a
GAAP measure, and adjusted EBITDA, a non-GAAP measure. In order to
reconcile adjusted EBITDA to operating income, depreciation and
amortization, non-cash equity compensation, and non-cash impairment
charges are added back to operating income/(loss).
2009 2008
--------- ---------
ADJUSTED EBITDA
Publishing $(1,457) $2,972
Broadcasting 1,893 2,979
Internet (1,415) (1,054)
Merchandising 4,252 8,765
Corporate (8,850) (13,084)
--------- ---------
Adjusted EBITDA (5,577) 578
--------- ---------
NON-CASH EQUITY COMPENSATION
Publishing 967 791
Broadcasting 437 143
Internet 163 22
Merchandising 714 161
Corporate 1,727 1,451
--------- ---------
Total Non-Cash Equity Compensation 4,008 2,568
--------- ---------
DEPRECIATION AND AMORTIZATION
Publishing 56 93
Broadcasting 699 290
Internet 492 433
Merchandising 14 23
Corporate 835 703
--------- ---------
Total Depreciation and Amortization 2,096 1,542
--------- ---------
OPERATING (LOSS) / INCOME
Publishing (2,480) 2,088
Broadcasting 757 2,546
Internet (2,070) (1,509)
Merchandising 3,524 8,581
Corporate (11,412) (15,238)
--------- ---------
Total Operating Loss (11,681) (3,532)
--------- ---------
OTHER (EXPENSE) / INCOME
Interest expense, net (1) -
Income on equity securities - 366
Loss in equity interest - (272)
--------- ---------
Total other (expense) / income (1) 94
LOSS BEFORE INCOME TAXES (11,682) (3,438)
Income tax provision (432) (309)
--------- ---------
NET LOSS $(12,114) $(3,747)
========= =========
Martha Stewart Living Omnimedia, Inc.
Supplemental Disclosures Regarding Non-GAAP Financial Information
Nine Months Ended September 30,
(unaudited, in thousands)
The following table presents segment and consolidated financial
information, including a reconciliation of operating income/(loss), a
GAAP measure, and adjusted EBITDA, a non-GAAP measure. In order to
reconcile adjusted EBITDA to operating income, depreciation and
amortization, non-cash equity compensation, and non-cash impairment
charges are added back to operating income/(loss).
2009 2008
--------- ---------
ADJUSTED EBITDA
Publishing $49 $13,422
Broadcasting 4,806 4,878
Internet (2,879) (4,250)
Merchandising 14,830 24,565
Corporate (24,611) (33,989)
--------- ---------
Adjusted EBITDA (7,805) 4,626
--------- ---------
NON-CASH EQUITY COMPENSATION
Publishing 1,219 2,214
Broadcasting 700 603
Internet 234 173
Merchandising 1,123 897
Corporate 3,593 2,662
--------- ---------
Total Non-Cash Equity Compensation 6,869 6,549
--------- ---------
DEPRECIATION AND AMORTIZATION
Publishing 186 286
Broadcasting 837 700
Internet 1,461 1,302
Merchandising 49 73
Corporate 3,461 2,061
--------- ---------
Total Depreciation and Amortization 5,994 4,422
--------- ---------
IMPAIRMENT ON MERCHANDISING EQUITY
INVESTMENT 12,600 -
--------- ---------
OPERATING (LOSS) / INCOME
Publishing (1,356) 10,922
Broadcasting 3,269 3,575
Internet (4,574) (5,725)
Merchandising 1,058 23,595
Corporate (31,665) (38,712)
--------- ---------
Total Operating Loss (33,268) (6,345)
--------- ---------
OTHER (EXPENSE) / INCOME
Interest (expense) / income, net (91) 540
Loss on equity securities (547) (765)
Loss in equity interest (236) (486)
--------- ---------
Total other expense (874) (711)
LOSS BEFORE INCOME TAXES (34,142) (7,056)
Income tax provision (1,190) (597)
--------- ---------
NET LOSS $(35,332) $(7,653)
========= =========
Martha Stewart Living Omnimedia, Inc.
CONTACT: Media, Elizabeth Estroff, SVP, Corporate Communications, +1-212-827-8281; or Investors, Katherine Nash, Director, Corporate Communications and Investor Relations, +1-212-827-8722, both for Martha Stewart Living Omnimedia, Inc.
Web Site: http://www.marthastewart.com/
Medicago to present at the U.S. Department of Health and Human Services' Global Health Security Initiative Workshop
QUEBEC CITY, Nov. 4 /PRNewswire-FirstCall/ -- Medicago Inc. (TSX-V: MDG), a biotechnology company focused on developing highly effective and affordable vaccines based on proprietary manufacturing technologies and Virus-Like Particles (VLPs), today announced that it received an invitation from the U.S. Department of Health and Human Services (HHS) to present at the Global Health Security Initiative Workshop (GHSI) on November 5, 2009 at 2:40 pm (EST) at the Fairfax at Embassy Row Hotel, Washington, D.C. During a session entitled Diagnostics and Vaccine Development Platforms, Medicago will discuss its ability to potentially improve the speed, capacity and cost of influenza vaccine production with its proprietary plant-based manufacturing platform and VLP technology.
The GHSI is an international, high-level forum for like-minded countries to discuss public health preparedness for chemical, biological, and radiological/nuclear (CBRN) threats as well as pandemic influenza. Amongst the GHSI policy priorities, the GHSI partners agreed on the need to build a global infrastructure for medical countermeasures (MCM). This year's workshop will provide an international opportunity for academia and industry partners to discuss research and development programs, products and new technologies as a first step towards coordinating preparedness efforts.
About Medicago
Medicago is committed to provide highly effective and affordable vaccines based on proprietary Virus-Like Particle (VLP) and manufacturing technologies. Medicago is developing VLP vaccines to protect against H5N1 pandemic influenza, using a transient expression system which produces recombinant vaccine antigens in non-transgenic plants. This technology has potential to offer advantages of speed and cost over competitive technologies. It could deliver a vaccine for testing in about a month after the identification and reception of genetic sequences from a pandemic strain. This production time frame has the potential to allow vaccination of the population before the first wave of a pandemic strikes and to supply large volumes of vaccine antigens to the world market. Additional information about Medicago is available at http://www.medicago.com/.
Forward Looking Statements
This press release contains forward-looking statements which reflect Medicago's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Medicago disclaims any obligation to update these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release
Medicago Inc.
CONTACT: Medicago, Inc., Andy Sheldon, President and CEO, (418) 658-9393; Medicago Inc., Arianna Vanin, Director, Investor Relations, (514) 796-3993
InterMune Announces Submission of NDA for Pirfenidone for the Treatment of Patients with IPF
BRISBANE, Calif., Nov. 4 /PRNewswire-FirstCall/ -- InterMune, Inc. today announced that it has submitted an electronic New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) seeking approval to market pirfenidone for the treatment of patients with idiopathic pulmonary fibrosis (IPF). Pirfenidone has been granted Orphan Drug and Fast Track designation by the FDA, and also has been granted Orphan Drug status in Europe.
"IPF is a rapidly and uniformly fatal disease. Sadly, there are no medicines approved for the approximately 100,000 Americans who suffer from this terrible disease," said Dan Welch, Chairman, Chief Executive Officer and President of InterMune. "InterMune has dedicated almost ten years to the development of new medicines for patients with IPF. We are very proud to have submitted the first NDA ever submitted to the FDA for a medicine to treat IPF patients."
About Pirfenidone
Preclinical and in-vitro evidence had shown that pirfenidone has both anti-fibrotic and anti-inflammatory effects. Results from three adequate and well-controlled Phase 3 studies have shown evidence of a treatment effect in IPF patients and the compound has been safe and generally well tolerated, with side effects including photosensitivity rash and gastrointestinal symptoms.
InterMune licensed pirfenidone from Marnac, Inc. and its co-licensor, KDL GmbH, in 2002 and in 2007 purchased from Marnac and KDL the rights to sell the compound in the United States, Europe and other territories except in Japan, Taiwan and South Korea where rights to the molecule were licensed by Marnac and KDL to Shionogi & Co. Ltd. of Japan. In October of 2008, pirfenidone was approved for use in IPF patients in Japan and is marketed as Pirespa® by Shionogi in that country.
About IPF
Idiopathic pulmonary fibrosis (IPF) is a disabling and ultimately fatal disease that affects approximately 200,000 patients in the United States and Europe combined, with approximately 30,000 new cases reported per year in each of the United States and Europe.
IPF is characterized by inflammation and scarring (fibrosis) in the lungs, hindering the ability to process oxygen and causing shortness of breath (dyspnea) and cough and is a progressive disease, meaning that over time, lung scarring and symptoms increase in severity. The median survival time from diagnosis is two to five years, with a five-year survival rate of approximately 20%. Patients diagnosed with IPF are usually between the ages of 40 and 70, with a median age of 63 years and the disease tends to affect slightly more men than women. There are no medicines approved in the United States or Europe for IPF.
About InterMune
InterMune is a biotechnology company focused on the research, development and commercialization of innovative therapies in pulmonology and hepatology. InterMune has an R&D portfolio addressing idiopathic pulmonary fibrosis (IPF) and hepatitis C virus (HCV) infections. The pulmonology portfolio includes pirfenidone for which InterMune has completed a Phase 3 program in patients with IPF (CAPACITY) and has submitted a New Drug Application (NDA) to the FDA. The hepatology portfolio includes the HCV protease inhibitor compound RG7227 (ITMN-191) that entered Phase 2b in August of 2009 and a second-generation HCV protease inhibitor research program. For additional information about InterMune and its R&D pipeline, please visit http://www.intermune.com/.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934, as amended, that reflect InterMune's judgment and involve risks and uncertainties as of the date of this release, including without limitation the statements related to anticipated product development timelines, the interpretation of the CAPACITY clinical data, including certain exploratory analyses conducted by the Company with respect to such data and the likelihood of regulatory success. All forward-looking statements and other information included in this press release are based on information available to InterMune as of the date hereof, and InterMune assumes no obligation to update any such forward-looking statements or information. InterMune's actual results could differ materially from those described in InterMune's forward-looking statements. Pirfenidone failed to achieve statistical significance on the primary endpoint in one of its two pivotal clinical trials and there can be no assurance that the regulatory authorities in either the United States or Europe will grant regulatory approval based upon these data, in combination with the other efficacy analyses and safety results the company currently intends to submit in support of its NDA and MAA filings. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in detail under the heading "Risk Factors" in InterMune's most recent annual report on Form 10-K filed with the SEC on March 16, 2009 (the "Form 10-K") and other periodic reports filed with the SEC, including the following: (i) risks related to the long, expensive and uncertain clinical development and regulatory process, including having no unexpected safety, toxicology, clinical or other issues or delays in anticipated timing of the regulatory approval process; (ii) risks related to failure to achieve the clinical trial results required to commercialize our product candidates; and (iii) risks related to timely patient enrollment and retention in clinical trials. The risks and other factors discussed above should be considered only in connection with the fully discussed risks and other factors discussed in detail in the Form 10-K and InterMune's other periodic reports filed with the SEC, all of which are available via InterMune's web site at http://www.intermune.com/.
InterMune, Inc.
CONTACT: Jim Goff of InterMune, Inc., +1-415-466-2228, jgoff@intermune.com
Web Site: http://www.intermune.com/
Wabtec Unit Signs $30 Million Contract To Supply Doors for Marmaray Project in Turkey
WILMERDING, Pa., Nov. 4 /PRNewswire-FirstCall/ -- Wabtec Corporation said its Vapor Rail unit has signed a contract valued at about $30 million to supply electric, sliding plug doors for 440 subway cars to be built by Hyundai Rotem for the Marmaray project in Istanbul, Turkey. The doors will be delivered beginning in 2010, with the order expected to be completed in 2012.
The $4 billion Marmaray project, which includes construction of the world's deepest tube tunnels, will connect the European and Asian sections of Istanbul upon completion in 2012. The plan includes a new, 8.5-mile section and the upgrading of 39 miles of suburban train lines.
"We're pleased to be working with Hyundai Rotem on this high-profile program," said Albert J. Neupaver, Wabtec's president and chief executive officer. "We have taken important steps toward building a global rail door business, and this contract represents significant progress in our efforts."
In 2009, Wabtec created a global Center of Excellence for rail doors, with headquarters at Vapor Rail's Montreal office, and manufacturing facilities in Plattsburgh, N.Y., and Sassuolo, Italy. Luc J. Fouquette was named managing director of Vapor Rail, with responsibility for growing the global rail door business. Fouquette joined Wabtec in 2008, after nearly 20 years with Bombardier.
In announcing this appointment, Raymond T. Betler, vice president and group executive, transit, said: "With our cost-effective, highly engineered, high-quality systems and services, we are the leading supplier of rail doors in North America. Our vision is to expand Vapor Rail's existing international presence to become the global leader."
Wabtec Corporation (http://www.wabtec.com/) is a global provider of value-added, technology-based products and services for the rail and transit industry. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world.
Wabtec Corporation
CONTACT: Tim Wesley of Wabtec Corporation, +1-412-825-1543, twesley@wabtec.com
Web Site: http://www.wabtec.com/
Golden Dragon Holdings Announces Current Information Status on the PINKSHEETS
BEIJING, Nov. 4 /PRNewswire-FirstCall/ -- Golden Dragon Holdings, Inc. (Other OTC: GDHI) http://www.gdfbhk.com/ is pleased to have completed the process for the Company to obtain "PS" status on PINKSHEETS. The company has filed all necessary disclosure and financial documents of information with PINKSHEETS, enabling GDHI to be fully transparent. The Board of Directors has moved to continue this level of full transparency in order to be quoted as "CURRENT INFORMATION" on "PINKSHEETS.COM."
Frank Yglesias, GDHI CEO, said, "We are very excited to have achieved this goal of PS status on PINKSHEETS, and we are continuing our commitment to strive to reach each and every goal we set by the end of 2009."
About Golden Dragon Holdings, Inc.
Golden Dragon Holdings, Inc. (PINKSHEETS: GDHI) is a publicly traded company that owns and operates Golden Dragon Food & Beverage Import & Export Company of Hong Kong, Ltd. (GDHK) in central Hong Kong and Beijing Flying Golden Dragon International Trading Co., Ltd in China (BFGD). Golden Dragon Holdings, Inc. has agreements with U.S. food manufacturers. GDHI acts as a buying agent for GDHK, negotiating vendor contracts and services with U.S. food and beverage industry partners. The Hong Kong Company plays a strategic role in the importation of products into the Chinese market by leveraging the Closer Economic Partnership Arrangement (CEPA) with China. Through this arrangement, Beijing Flying Golden Dragon International Trading Co., Ltd distributes some of the most popular U.S. food and beverage brand products directly into the hypermarkets, supermarkets and convenience stores in China. The Company is responsible for order fulfillment for its clients in China, as well as providing advertising and promotion (A&P) services for its U.S. food and beverage products.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995.
Golden Dragon Holdings, Inc.
CONTACT: Golden Dragon Holdings, Inc., +1-888-889-8185, ir@gdfbhk.com
Web Site: http://www.gdfbhk.com/
Webcast Alert: B2W - Companhia Global do Varejo Announces Third Quarter 2009 Results Webcast
RIO DE JANEIRO, Brazil, Nov. 4 /PRNewswire-FirstCall/ -- B2W - Companhia Global do Varejo (BM&FBOVESPA: BTOW3) (B2W) announces the following webcast:
What: B2W's Third Quarter 2009 Results
When: Friday, November 6, 2009 at 9:00 AM ET
Where: http://prnewswire.mediatown.com.br/player/?id=108
How: Live over the Internet -- Simply log on to the web at the address above.
Contact: B2W Investor Relations Team, +55 (21) 2206-6000, or e-mail, ri@b2winc.com
If you are unable to participate during the live webcast, the call will be archived at http://www.b2winc.com . To access the replay, click on 3Q09 Webcast.
B2W-Companhia Global do Varejo is the leading online retailer in Brazil, resultant from the merger between Americanas.com and Submarino; B2W's portfolio comprises the brands Americanas.com, Shoptime, Submarino, Blockbuster, Ingresso.com, Submarino Finance and B2W Viagens, offering over 30 product categories throughout the Internet, catalogues, TV and kiosks.
Audio: http://prnewswire.mediatown.com.br/player/?id=108
B2W - Companhia Global do Varejo
CONTACT: B2W Investor Relations, +011-55-21-2206-6000, ri@b2winc.com
Web site: http://www.b2winc.com/
BNY Mellon Teams with Euroclear Bank and GlobeTax to Streamline Dividend Tax Relief for Depositary Receipt HoldersNew tax reclaim service ensures equitable treatment for holders of DRs subject to Dutch, Danish or Luxembourg withholding tax
NEW YORK, Nov. 4 /PRNewswire-FirstCall/ -- BNY Mellon, the global leader in asset management and securities servicing, has announced a streamlined process to expedite recovery of foreign taxes withheld from payments to holders of depositary receipts (DRs) for companies incorporated in the Netherlands, Denmark or Luxembourg.
"Working closely with our strategic partners Euroclear Bank and GlobeTax, we've created a new standard tax reclaim service for DR holders," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business. "It allows holders to easily recoup the appropriate treaty benefits for dividend payments on DRs when BNY Mellon acts as depositary, the shares are held in common depository, and the shares are subject to Dutch, Danish or Luxembourg withholding tax.
"This development levels the playing field for DR holders and helps ensure they receive the same treatment in the taxation arena as other equity holders," Cole-Fontayn added.
The new refund service became effective yesterday, November 3. New procedures and relevant forms are now available on http://www.euroclear.com/.
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Learn more at http://www.bnymellon.com/dr.
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. The company 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 bnymellon.com.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
BNY Mellon
CONTACT: Dori Flanagan, +1-212-815-2291, dori.flanagan@bnymellon.com; or Joseph F. Ailinger Jr., +1-617-722-7571, joe.ailinger@bnymellon.com
Web Site: http://www.bnymellon.com/
Yukon-Nevada Gold Corp. meets TSX continued listing requirements
VANCOUVER, Nov. 4 /PRNewswire-FirstCall/ -- Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) Further to TSX Bulletin 2009-1042 dated August 19, 2009, TSX has completed its review of the common shares (Symbol: YNG) and warrants (Symbol: YNG.WT) of the Company and has determined that the Company meets TSX's continued listing requirements.
About Yukon-Nevada Gold Corp.
On October 14, 2009 Yukon-Nevada Gold Corp. ("YNG" or the "Company") announced that it has come to an agreement with the Nevada Division of Environmental Protection ("NDEP") in the form of a Consent Decree to resume production at the Jerritt Canyon milling facility located approximately 50 miles from Elko, Nevada. Jerritt Canyon is owned and operated by Queenstake Resources U.S.A. Ltd. ("Queenstake") a wholly owned subsidiary of the Company. Subsequent to that announcement the Jerritt Canyon milling facility recommenced processing ore and gold production.
The Company is requesting the support of its qualifying shareholders for the issuance of the replacement inducement warrants proposed by the Company on terms set out in its news releases of September 29, 2009 and October 14, 2009. The Company is issuing inducement warrants to existing warrant-holders who elect to exercise their existing warrants before their respective expiry dates. Only those shareholders not eligible to participate in the issuance of inducement warrants are qualified to vote (i.e. "disinterested" shareholders). Once qualifying shareholders receive their consent letters in the mail there is an option to vote on the internet here: http://www.proxyvote.com/ In the event all warrant holders exercise their warrants the Company would receive approximately $14,000,000 in working capital into treasury.
In order to provide more detailed information to the qualifying shareholders YNG has engaged the assistance of Laurel Hill Advisory Group, LLC to contact qualifying shareholders in order to solicit questions and obtain, where appropriate, their written consent as required by the TSX policies. You can also visit the Company's website for additional information: http://www.yukon-nevadagold.com/ or contact Laurel Hill Advisory Group, LLC at: 1 (800) 994-5189.
Third quarter results are coming out on Nov 13, 2009, which will be available on SEDAR, http://www.sedar.com/ and on the Company's website, http://www.yukon-nevadagold.com/s/FinancialStatements.asp.
Yukon-Nevada Gold Corp. is a North American gold producer in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Arizona and Nevada in the United States. The Company's focus has been on the acquisition and development of late stage development and operating properties with gold as the primary target. Continued growth will occur by increasing or initiating production from the Company's existing properties.
If you would like to receive press releases via email please contact nicole@yngc.ca and specify "Yukon-Nevada Gold Corp. releases" in the subject line.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
WARNING: The Company relies upon litigation protection for
"forward-looking" statements.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Yukon-Nevada Gold Corp.
CONTACT: Yukon-Nevada Gold Corp., Nicole Sanches, Investor Relations Manager, Tel: (604) 688-9427, Email: nicole@yngc.ca, http://www.yukon-nevadagold.com/; CHF Investor Relations, Jeanny So, Director of Operations, Tel: (416) 868-1079 ext. 225, Email: jeanny@chfir.com, http://www.chfir.com/
WestJet reports an improved October load factor of 77.3 per cent
CALGARY, Nov. 4 /PRNewswire-FirstCall/ -- WestJet today announced October traffic results with a load factor of 77.3 per cent, a year-over-year improvement of 1.5 percentage points. Revenue passenger miles (RPM) increased 0.3 per cent year over year, and capacity, measured in available seat miles (ASM), declined 1.8 per cent over the same period.
"We are encouraged by our year-over-year improvements in October's load factor and RPMs," said WestJet President and CEO Sean Durfy. "I want to thank our WestJetters for their continued hard work in implementing our new reservation system and launching our new destinations this month."
"Recently, we have been seeing more strength in both our business and sun destination bookings," commented Sean Durfy. "Of our 11 new southern destinations, nine have already launched and the remaining two will launch in December. We are pleased with the early bookings for these and all of our sun destinations. This shows the continued strength of our WestJet Vacations business and the value proposition we bring to our guests."
October 2009 traffic results
-------------------------------------------------------------------------
October 2009 October 2008 Change
-------------------------------------------------------------------------
Load factor 77.3% 75.8% 1.5 pts.
-------------------------------------------------------------------------
ASMs (billions) 1.413 1.439 (1.8%)
-------------------------------------------------------------------------
RPMs (billions) 1.093 1.090 0.3%
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Year-to-date 2009 Year-to-date 2008 Change
-------------------------------------------------------------------------
Load factor 78.6% 80.4% (1.8 pts.)
-------------------------------------------------------------------------
ASMs (billions) 14.588 14.290 2.1%
-------------------------------------------------------------------------
RPMs (billions) 11.466 11.492 (0.2%)
-------------------------------------------------------------------------
"In the past six to eight weeks, we have seen indications that RASM declines have levelled off, and we are seeing signs of improvement from what we were previously experiencing," commented Sean Durfy. "While it is still too early to predict the strength or speed of a potential recovery, we feel optimistic about the future and the continued success of our airline."
This disclosure contains forward-looking statements, including, but not limited to, statements regarding its early bookings for its sun destinations and improvement of RASM. These forward-looking statements are based on WestJet's current assumptions and beliefs. However, these forward-looking statements are subject to, and may be affected by, numerous risks and uncertainties, some of which are beyond WestJet's control. WestJet's results may differ materially from those expressed in, or implied by, such statements. Factors that could cause or contribute to these differences include, but are not limited to: changes in consumer demand, changes in fuel prices, general economic conditions, the competitive environment, possible pandemics and other factors described in WestJet's public reports and filings, which are available on WestJet's profile at http://www.sedar.com/. Forward-looking statements are subject to change, and WestJet does not undertake to update, correct or revise any forward-looking statements as a result of any new information, future events or otherwise, except as may be required by applicable law.
About WestJet
WestJet is Canada's preferred airline, offering scheduled service throughout its 66-city North American and Caribbean network. Named one of Canada's most admired corporate cultures in 2005, 2006, 2007 and 2008, WestJet pioneered low-cost flying in Canada. WestJet offers increased legroom, leather seats and live seatback television provided by Bell TV on its modern fleet of 81 Boeing Next-Generation 737 aircraft. With future confirmed deliveries for an additional 54 aircraft through 2016, WestJet strives to be one of the five most successful international airlines in the world.
WestJet
CONTACT: WestJet Media Relations, 1-888-WJ 4 NEWS (1-888-954-6397), Email: ropalmer@westjet.com; WestJet Investor Relations, 1-877-493-7853, Email: investor_relations@westjet.com; Website: http://www.westjet.com/
WestJet announces 18th consecutive quarter of profitabilityAirline reports third quarter net earnings of $31.4 million
CALGARY, Nov. 4 /PRNewswire-FirstCall/ -- WestJet (TSX:WJA) today announced third quarter results for 2009. The airline reported net earnings of $31.4 million or 24 cents per diluted share; this compared to the third quarter of 2008 net earnings of $57.9 million or 45 cents per diluted share.
"We are extremely happy to have once again turned a difficult economic period into another profitable quarter," said WestJet President and CEO Sean Durfy. "For more than a year now, economic instability has been eroding consumer confidence. The third quarter saw continued scrutiny from price-sensitive Canadians, resulting in airlines stimulating demand through aggressive pricing. Regardless, we believe we will produce margins that are among the best in North America. Our success this quarter, and every quarter, is a direct result of the efforts and abilities of WestJetters who are committed to ensuring guests receive the best value for their hard-earned dollars."
WestJet reported an operating margin of 12.8 per cent, compared to 14.0 per cent in the third quarter of 2008. WestJet's third quarter 2009 pre-tax margin was 8.3 per cent, compared to 11.5 per cent in the same 2008 period.
"Relief from significantly lower fuel costs, compared to the same period in 2008, considerably off-set our drop in revenue," added Sean Durfy. "Our ability to successfully stimulate demand while keeping our controllable costs in line played an important part in our strong margins."
Operating highlights (stated in Canadian dollars)
-------------------------------------------------------------------------
Year-to- Year-to-
Q3 2009 Q3 2008 Change date 2009 date 2008 Change
-------------------------------------------------------------------------
Net earnings
(millions) $31.4 $57.9 (45.7%) $78.0 $136.5 (42.8%)
-------------------------------------------------------------------------
Diluted
earnings per
share $0.24 $0.45 (46.7%) $0.61 $1.04 (41.3%)
-------------------------------------------------------------------------
Revenue
(millions) $600.6 $718.4 (16.4%) $1,711.1 $1,933.7 (11.5%)
-------------------------------------------------------------------------
ASM (available
seat miles)
(billions) 4.503 4.551 (1.1%) 13.175 12.851 2.5%
-------------------------------------------------------------------------
RPM (revenue
passenger
miles)
(billions) 3.587 3.705 (3.2%) 10.374 10.402 (0.3%)
-------------------------------------------------------------------------
Load factor 79.7% 81.4% (1.7 pts.) 78.7% 80.9% (2.2 pts.)
-------------------------------------------------------------------------
Yield (revenue
per revenue
passenger
mile) (cents) 16.74 19.39 (13.7%) 16.49 18.59 (11.3%)
-------------------------------------------------------------------------
RASM (revenue
per available
seat mile)
(cents) 13.34 15.78 (15.5%) 12.99 15.05 (13.7%)
-------------------------------------------------------------------------
CASM (cost per
available seat
mile) (cents) 11.63 13.58* (14.4%) 11.66 13.23* (11.9%)
-------------------------------------------------------------------------
CASM, excluding
fuel and
employee profit
share (cents) 8.16 7.96* 2.5% 8.37 8.14* 2.8%
-------------------------------------------------------------------------
* The 2008 comparatives have been restated due to a change in
accounting policy.
"Throughout the quarter, we remained committed to our strategy," stated Sean Durfy. "The recent successful cutover to our new reservation system was a major milestone for our airline. This transition from our old system to our new system has been difficult on our guests and our people. We are extremely appreciative of our guests, who have shown tremendous loyalty and patience, as we implement changes that will enhance the benefits we can provide. We offer a heartfelt apology for this inconvenience and assure you that we will be back to our high standards of excellent service very soon."
Sean Durfy continued, "Our new reservation system provides the capabilities necessary to properly support our growing business and deliver on key strategic initiatives like attracting more business travellers, increasing ancillary revenue and enabling airline partnerships. Completing a project of this magnitude was no small feat, and it wouldn't have been possible without our hard-working team of WestJetters who are extremely invested in the success of our airline."
In the third quarter, WestJet revised its aircraft delivery schedule and completed an equity offering that brought the airline's cash balance to $961.6 million.
"The challenges that we encountered leading up to the end of the third quarter are creating a lot of uncertainty around the remainder of 2009 and into 2010," explained Sean Durfy. "We smoothed our aircraft delivery schedule, enhanced flexibility around our fleet and capacity, and added 14 more aircraft to our future growth plans. Our equity offering strengthened our balance sheet and provided an additional level of comfort for meeting our future growth commitments."
Throughout the remainder of the year, WestJet will implement its Frequent Guest Program and co-branded credit card program; continue to grow its vacations business, which is already seeing year-to-date revenue improvements of over 80 per cent; and take delivery of an additional five aircraft for an end-of-year fleet size of 86.
"Capacity for the fourth quarter is expected to increase two to three per cent, with all new capacity being deployed into our transborder and international markets," said Sean Durfy. "We have enhanced our winter schedule with 10 new sun destinations, and bookings for WestJet Vacations remain strong."
"We are encouraged by talks of recovery," commented Sean Durfy. "In the past six to eight weeks, we have seen indications that RASM declines have levelled off, and we are seeing signs of improvement from what we were previously experiencing. While it is still too early to predict the strength or speed of a potential recovery, we feel optimistic about the future and the continued success of our airline."
WestJet also reported third quarter improvements for all three categories of operational performance. WestJet calculates its on-time performance and completion rate based on the U.S. Department of Transportation's standards. WestJet's baggage ratio represents the number of delayed or lost baggage claims made per 1,000 guests. The airline strives to be one of the top North American airlines for these three operational performance metrics.
-------------------------------------------------------------------------
Year-to- Year-to-
Q3 2009 Q3 2008 Change date 2009 date 2008 Change
-------------------------------------------------------------------------
On-time
performance 87.5% 83.8% 3.7 pts. 83.2% 79.7% 3.5 pts.
-------------------------------------------------------------------------
Completion rate 99.5% 99.4% 0.1 pts. 98.9% 98.9% -
-------------------------------------------------------------------------
Bag ratio 3.04 3.40 10.6% 3.32 3.94 15.7%
-------------------------------------------------------------------------
Caution regarding forward-looking statements
Certain information set forth in this press release, including but not limited to information regarding WestJet's operational plans for the remainder of 2009, capacity projections, new winter schedule, anticipated aircraft delivery schedule, implementation of strategic programs and projections as to RASM in the fourth quarter of 2009, contain forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond WestJet's control. These forward-looking statements are based on currently available implementation plans, agreements and bookings, but may vary due to factors including, but not limited to, delay in aircraft delivery, change in customer demand, general economic conditions, H1N1 impact and availability of personnel and outside consultants. These and additional risk factors are discussed in WestJet's most recent Annual Information Form (AIF) and in other documents WestJet files from time to time with securities regulatory authorities, which are available through the Internet on WestJet's SEDAR profile at http://www.sedar.com/.
Readers are cautioned that undue reliance should not be placed on forward-looking statements as actual results may vary materially from the forward-looking statements. WestJet does not undertake to update any forward-looking statements, except as is required by law.
The Management's Discussion and Analysis and Consolidated Financial Statements and Notes for the three and nine months ended September 30, 2009, are available through the Internet on westjet.com or WestJet's SEDAR profile at http://www.sedar.com/.
Conference call
WestJet will hold its quarterly analysts' conference call today at 9 a.m. MST (11 a.m. EST). WestJet President and CEO Sean Durfy, and Executive Vice-President of Finance and CFO Vito Culmone, will discuss WestJet's third quarter 2009 results and answer questions from financial analysts. The conference call is available by calling 1-416-644-3417 (in Toronto) or through the toll-free telephone number 1-800-733-7560. The call can also be heard live through an Internet webcast in the Media and Investors section of westjet.com.
About WestJet
WestJet is Canada's preferred airline, offering scheduled service throughout its 66-city North American and Caribbean network. Named one of Canada's most admired corporate cultures in 2005, 2006, 2007 and 2008, WestJet pioneered low-cost flying in Canada. WestJet offers increased legroom, leather seats and live seatback television provided by Bell TV on its modern fleet of 81 Boeing Next-Generation 737 aircraft. With future confirmed deliveries for an additional 54 aircraft through 2016, WestJet strives to be one of the five most successful international airlines in the world.
Consolidated Statement of Earnings
(Stated in thousands of Canadian dollars, except per share amounts)
(Unaudited)
-------------------------------------------------------------------------
Three months ended Nine months ended
September 30 September 30
2009 2008 2009 2008
-------------------------------------------------------------------------
Restated Restated
Revenues:
Guest revenues $ 557,413 $ 656,782 $ 1,539,756 $ 1,739,787
Charter and other
revenues 43,217 61,593 171,322 193,936
-------------------------------------------------------------------------
600,630 718,375 1,711,078 1,933,723
Expenses:
Aircraft fuel 150,648 244,544 421,716 625,871
Airport operations 84,131 84,635 260,432 250,856
Flight operations
and navigational
charges 78,327 72,945 225,449 210,817
Marketing, general
and administration 52,034 54,145 153,657 150,789
Sales and distribution 41,721 43,717 121,943 129,857
Depreciation and
amortization 36,072 35,000 104,467 101,656
Inflight 26,155 27,018 85,338 79,404
Aircraft leasing 26,676 22,799 78,858 63,340
Maintenance 22,414 21,826 72,388 60,949
Employee profit share 5,476 11,453 12,378 26,787
-------------------------------------------------------------------------
523,654 618,082 1,536,626 1,700,326
-------------------------------------------------------------------------
Earnings from operations 76,976 100,293 174,452 233,397
Non-operating income
(expense):
Interest income 965 6,077 4,047 19,861
Interest expense (16,729) (18,947) (51,340) (57,628)
Gain (loss) on
foreign exchange (7,140) 6,249 (11,552) 10,246
Loss on disposal of
property and equipment (140) (93) (853) (226)
Loss on derivatives (4,329) (10,995) (989) (10,995)
-------------------------------------------------------------------------
(27,373) (17,709) (60,687) (38,742)
-------------------------------------------------------------------------
Earnings before
income taxes 49,603 82,584 113,765 194,655
Income tax expense:
Current 710 92 2,102 2,245
Future 17,475 24,616 33,660 55,930
-------------------------------------------------------------------------
18,185 24,708 35,762 58,175
-------------------------------------------------------------------------
Net earnings $ 31,418 $ 57,876 $ 78,003 $ 136,480
-------------------------------------------------------------------------
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Earnings per share:
Basic $ 0.24 $ 0.45 $ 0.61 $ 1.06
Diluted $ 0.24 $ 0.45 $ 0.61 $ 1.04
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Consolidated Balance Sheet
(Stated in thousands of Canadian dollars)
(Unaudited)
-------------------------------------------------------------------------
September 30, December 31,
2009 2008
-------------------------------------------------------------------------
Restated
Assets
Current assets:
Cash and cash equivalents $ 961,648 $ 820,214
Accounts receivable 19,635 16,837
Future income tax 4,093 8,459
Prepaid expenses, deposits and other 42,068 53,283
Inventory 18,714 17,054
-------------------------------------------------------------------------
1,046,158 915,847
Property and equipment 2,320,989 2,269,790
Intangible assets 13,596 12,060
Other assets 58,246 71,005
-------------------------------------------------------------------------
$ 3,438,989 $ 3,268,702
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Liabilities and shareholders' equity
Current liabilities:
Accounts payable and accrued liabilities $ 198,995 $ 249,354
Advance ticket sales 301,581 251,354
Non-refundable guest credits 59,486 73,020
Current portion of long-term debt 165,107 165,721
Current portion of obligations under
capital lease 555 395
-------------------------------------------------------------------------
725,724 739,844
Long-term debt 1,062,326 1,186,182
Obligations under capital lease 259 713
Other liabilities 17,393 24,233
Future income tax 276,052 241,740
-------------------------------------------------------------------------
2,081,754 2,192,712
Shareholders' equity:
Share capital 628,740 452,885
Contributed surplus 69,933 60,193
Accumulated other comprehensive loss (20,465) (38,112)
Retained earnings 679,027 601,024
-------------------------------------------------------------------------
1,357,235 1,075,990
Commitments and contingencies
-------------------------------------------------------------------------
$ 3,438,989 $ 3,268,702
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Consolidated Statement of Shareholders' Equity
(Stated in thousands of Canadian dollars)
(Unaudited)
-------------------------------------------------------------------------
Three months ended Nine months ended
September 30 September 30
2009 2008 2009 2008
-------------------------------------------------------------------------
Restated Restated
Share capital:
Balance, beginning
of period $ 453,862 $ 452,318 $ 452,885 $ 448,568
Issuance of shares
pursuant to stock
option plans - - - 227
Stock-based
compensation expense
on stock options
exercised 75 458 1,052 11,072
Stock-based
compensation expense
on executive share
units exercised 569 - 569 -
Issued on public
offering 172,463 - 172,463 -
Issuance of shares
pursuant to employee
share purchase plan 7,236 - 7,236 -
Share issue costs (7,456) - (7,456) -
Tax effect of share
issue costs 1,991 - 1,991 -
Shares repurchased - - - (7,091)
-------------------------------------------------------------------------
628,740 452,776 628,740 452,776
Contributed surplus:
Balance, beginning
of period 65,000 55,394 60,193 57,889
Stock-based
compensation
expense 5,577 2,735 11,361 10,854
Stock-based
compensation expense
on stock options
exercised (75) (458) (1,052) (11,072)
Stock-based
compensation expense
on executive share
unit settlement (569) - (569) -
-------------------------------------------------------------------------
69,933 57,671 69,933 57,671
Accumulated other
comprehensive loss:
Balance, beginning
of period (18,534) (11,001) (38,112) (11,914)
Other comprehensive
income (loss) (1,931) 1,284 17,647 2,197
-------------------------------------------------------------------------
(20,465) (9,717) (20,465) (9,717)
Retained earnings:
Balance, beginning
of period 647,609 515,735 611,171 455,365
Change in accounting
policy - (14,613) (10,147) (10,518)
Shares repurchased - - - (22,329)
Net earnings 31,418 57,876 78,003 136,480
-------------------------------------------------------------------------
679,027 558,998 679,027 558,998
Total accumulated other
comprehensive loss
and retained earnings 658,562 549,281 658,562 549,281
-------------------------------------------------------------------------
Total shareholders'
equity $ 1,357,235 $ 1,059,728 $ 1,357,235 $ 1,059,728
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Consolidated Statement of Comprehensive Income
(Stated in thousands of Canadian dollars)
(Unaudited)
-------------------------------------------------------------------------
Three months ended Nine months ended
September 30 September 30
2009 2008 2009 2008
-------------------------------------------------------------------------
Restated Restated
Net earnings $ 31,418 $ 57,876 $ 78,003 $ 136,480
Other comprehensive
income (loss), net
of tax:
Amortization of hedge
settlements to
aircraft leasing 350 350 1,050 1,050
Net unrealized gain
(loss) on foreign
exchange derivatives
under cash flow
hedge accounting
(2009 net of tax
$53 and $217; 2008 -
($499) and ($779)) (138) 1,124 (294) 1,668
Reclassification of
net realized gain on
foreign exchange
derivatives to net
earnings (2009 net
of tax nil and
$1,576; 2008 - $226
and $364) - (506) (3,977) (837)
Net unrealized gain
(loss) on fuel
derivatives under
cash flow hedge
accounting (2009 net
of tax $2,493 and
($1,525)) (6,140) 316 3,443 316
Reclassification of
net realized loss on
fuel derivatives to
net earnings (2009
net of tax ($1,673)
and ($7,279)) 3,997 - 17,425 -
-------------------------------------------------------------------------
(1,931) 1,284 17,647 2,197
-------------------------------------------------------------------------
Total comprehensive
income $ 29,487 $ 59,160 $ 95,650 $ 138,677
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Consolidated Statement of Cash Flows
(Stated in thousands of Canadian dollars)
(Unaudited)
-------------------------------------------------------------------------
Three months ended Nine months ended
September 30 September 30
2009 2008 2009 2008
-------------------------------------------------------------------------
Restated Restated
Operating activities:
Net earnings $ 31,418 $ 57,876 $ 78,003 $ 136,480
Items not involving
cash:
Depreciation and
amortization 36,072 35,000 104,467 101,656
Amortization of
other liabilities (860) (235) (1,749) (704)
Amortization of
hedge settlements 350 350 1,050 1,050
Unrealized loss on
derivative
instruments 2,653 402 1,020 402
Issuance of shares
pursuant to
employee share
purchase plan 7,236 - 7,236 -
Loss on disposal of
property and
equipment 101 93 1,173 226
Stock-based
compensation
expense 5,577 2,735 11,361 10,854
Income tax credit
receivable - - (1,952) -
Future income
tax expense 17,475 24,616 33,660 55,930
Unrealized foreign
exchange loss (gain) 7,985 (6,900) 7,121 (11,103)
Change in non-cash
working capital 24,811 (36,626) 12,705 98,243
-------------------------------------------------------------------------
132,818 77,311 254,095 393,034
-------------------------------------------------------------------------
Financing activities:
Increase in
long-term debt - 33,835 - 101,782
Repayment of
long-term debt (41,387) (54,945) (124,470) (137,827)
Decrease in
obligations under
capital lease (99) (95) (294) (280)
Issuance of shares 172,463 - 172,463 227
Share issue costs (7,456) - (7,456) -
Shares repurchased - - - (29,420)
Increase in other
assets - (1,419) - (4,084)
Change in non-cash
working capital 1,691 (689) 672 (2,895)
-------------------------------------------------------------------------
125,212 (23,313) 40,915 (72,497)
-------------------------------------------------------------------------
Investing activities:
Aircraft additions (24,065) (36,572) (108,261) (110,528)
Other property and
equipment and
intangible additions (7,772) (27,285) (44,228) (63,497)
Other property and
equipment disposals - - - 170
-------------------------------------------------------------------------
(31,837) (63,857) (152,489) (173,855)
-------------------------------------------------------------------------
Cash flow from (used
in) operating,
financing and
investing activities 226,193 (9,859) 142,521 146,682
Effect of foreign
exchange on cash and
cash equivalents (4,176) 4,382 (1,087) 6,273
-------------------------------------------------------------------------
Net change in cash
and cash equivalents 222,017 (5,477) 141,434 152,955
Cash and cash
equivalents, beginning
of period 739,631 811,990 820,214 653,558
-------------------------------------------------------------------------
Cash and cash
equivalents, end
of period $ 961,648 $ 806,513 $ 961,648 $ 806,513
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Cash interest paid $ 16,431 $ 18,849 $ 51,637 $ 57,822
Cash taxes paid $ 2,712 $ 428 $ 6,037 $ 1,790
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Operating Highlights
(Unaudited)
-------------------------------------------------------------------------
Three months ended September 30
2009 2008 Change
-------------------------------------------------------------------------
ASMs 4,503,392,044 4,551,211,270 (1.1%)
RPMs 3,587,028,442 3,705,367,631 (3.2%)
Load factor 79.7% 81.4% (1.7 pts.)
Yield (cents) 16.74 19.39 (13.7%)
RASM (cents) 13.34 15.78 (15.5%)
CASM (cents) 11.63 13.58* (14.4%)
CASM, excluding fuel and
employee profit share
(cents) 8.16 7.96* 2.5%
Fuel consumption (litres) 218,950,368 221,606,557 (1.2%)
Fuel costs per litre
(dollars) 0.69 1.10 (37.3%)
Segment guests 3,654,097 3,749,679 (2.5%)
Average stage length (miles) 921 930 (1.0%)
Utilization (hours) 11.6 12.5 (7.2%)
Number of full-time
equivalent employees at
period end 6,062 6,275 (3.4%)
Fleet size at period end 81 76 6.6%
-------------------------------------------------------------------------
* Restated
-------------------------------------------------------------------------
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Nine months ended September 30
2009 2008 Change
-------------------------------------------------------------------------
ASMs 13,175,067,069 12,850,828,937 2.5%
RPMs 10,373,856,153 10,402,104,231 (0.3%)
Load factor 78.7% 80.9% (2.2 pts.)
Yield (cents) 16.49 18.59 (11.3%)
RASM (cents) 12.99 15.05 (13.7%)
CASM (cents) 11.66 13.23* (11.9%)
CASM, excluding fuel and
employee profit share
(cents) 8.37 8.14* 2.8%
Fuel consumption (litres) 642,244,113 629,609,487 2.0%
Fuel costs per litre
(dollars) 0.66 0.99 (33.3%)
Segment guests 10,523,659 10,765,268 (2.2%)
Average stage length
(miles) 922 918 0.4%
Utilization (hours) 11.8 12.4 (4.8%)
Number of full-time
equivalent employees at
period end 6,062 6,275 (3.4%)
Fleet size at period end 81 76 6.6%
-------------------------------------------------------------------------
*Restated
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Reconciliation of non-GAAP measures to GAAP
To supplement the consolidated financial statements presented in accordance with Canadian GAAP, WestJet uses various non-GAAP performance measures. These measures are provided to enhance the reader's overall understanding of WestJet's current financial performance and are included to provide investors and management with an alternative method for assessing the operating results in a manner that is focused on the performance of ongoing operations and to provide a more consistent basis for comparison between quarters. These measures are not in accordance with, or an alternative to, Canadian GAAP and do not have standardized meanings. Therefore, they are not likely to be comparable to similar measures presented by other entities.
WestJet excludes the effects of aircraft fuel expense and employee profit share expense to assess the operating performance of the business. Fuel expense is excluded from operating results due to the fact that fuel prices are impacted by a host of factors outside WestJet's control, such as significant weather events, geopolitical tensions, refinery capacity and global demand and supply. Excluding this expense allows WestJet to analyze its operating results on a comparable basis. Employee profit share expense is excluded from operating results due to its variable nature and excluding this expense allows greater comparability.
CASM, excluding fuel and employee profit share
(Stated in thousands of Canadian dollars, except per unit amounts)
(Unaudited)
-------------------------------------------------------------------------
Three months ended September 30 Nine months ended September 30
2009 2008 2009 2008
-------------------------------------------------------------------------
Restated Restated
Operating
expenses
- GAAP $ 523,654 $ 618,082 $ 1,536,626 $ 1,700,326
Adjusted
for:
Aircraft
fuel
expense (150,648) (244,544) (421,716) (625,871)
Employee
profit
share
expense (5,476) (11,453) (12,378) (26,787)
-------------------------------------------------------------------------
Operating
expenses,
excluding
above
items -
non-GAAP $ 367,530 $ 362,085 $ 1,102,532 $ 1,047,668
ASMs 4,503,392,044 4,551,211,270 13,175,067,069 12,850,828,937
-------------------------------------------------------------------------
CASM,
excluding
above items
(cents) -
non-GAAP 8.16 7.96 8.37 8.14
-------------------------------------------------------------------------
-------------------------------------------------------------------------
WestJet
CONTACT: WestJet Media Relations, 1-888-WJ 4 NEWS (1-888-954-6397), Email: ropalmer@westjet.com; WestJet Investor Relations, 1-877-493-7853, Email: investor_relations@westjet.com, Website: http://www.westjet.com/
Apple Announces Over 100,000 Apps Now Available on the App Store
CUPERTINO, Calif., Nov. 4 /PRNewswire-FirstCall/ -- Apple® today announced that developers have created over 100,000 apps for the revolutionary App Store, the largest applications store in the world. iPhone® and iPod touch® customers in 77 countries can choose from an incredible range of apps in 20 categories, including games, business, news, sports, health, reference and travel. App Store users have downloaded well over two billion apps, continuing to make it the world's most popular applications store.
"The App Store, now with over 100,000 applications available, is clearly a major differentiator for millions of iPhone and iPod touch customers around the world," said Philip Schiller, Apple's senior vice president of Worldwide Product Marketing. "The iPhone SDK created the first great platform for mobile applications and our customers are loving all of the amazing apps our developers are creating."
"The App Store has forever changed the mobile gaming industry and continues to improve," said Travis Boatman, vice president of Worldwide Studios, EA Mobile. "With a global reach of over 50 million iPhone and iPod touch users, the App Store has allowed us to develop high quality EA games that have been a huge success with customers."
"With 10,000 downloads a day, worldwide customer response to our I Am T-Pain App has exceeded our wildest expectations," said Jeff Smith, CEO of Smule. "The App Store has given us a unique opportunity to create and grow a very successful business, and we're looking forward to an exciting future."
Apple continues to improve search and discovery with new features including Genius for Apps, App Store Essentials selections, sub category listings and more valuable customer reviews. With the recently introduced iTunes® 9, it's also now easier than ever to organize and sync your apps right in iTunes and they will automatically appear on your iPhone or iPod touch with the same layout.
The release of iPhone OS 3.0 this summer made over 100 new features available to iPhone and iPod touch users including Cut, Copy and Paste; MMS; landscape view for Mail, Text and Notes; stereo Bluetooth; shake to shuffle; parental controls; automatic login at Wi-Fi hot spots and Push Notifications. These new features have been incredibly popular with customers and there have already been more than two billion Push Notifications sent to apps available from the App Store. Additionally, the recently introduced In App Purchase feature for free apps means leading developers will now be able to offer customers the choice of buying content, subscriptions and digital services from directly inside their apps.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award-winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market with its revolutionary iPhone.
© 2009 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS, Macintosh, iPhone, iPod touch and iTunes are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
Apple
CONTACT: Natalie Kerris, +1-408-974-6877, nat@apple.com, or Simon Pope, +1-408-974-0457, simonp@apple.com, both of Apple
Web Site: http://www.apple.com/
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