Companies news of 2010-02-01 (page 1)

  • Savvis Executives to Present at Major Investor Conferences in February and March
  • Golden Dragon Holdings, Inc. Has Signed an Expansive Supply Agreement with Vanguard Group
  • Sangamo BioSciences Announces Presentation at BIO CEO & Investor Conference
  • Telik Announces Presentation and Webcast at 12th Annual BIO CEO & Investor Conference
  • Extreme Networks Exceeds Revenue Guidance for QuarterReports 27 Percent Sequential Product...
  • Novellus Systems Ships 1000th VECTOR(R) PECVD SystemIndustry-leading Dielectric Deposition...
  • AnalogicTech to Present at Thomas Weisel Partners 8th Annual Technology and Telecom...
  • Optelecom-NKF Announces Sales Team Restructuring
  • Innophos Holdings, Inc. Schedules Call to Discuss Fourth Quarter and Full Year 2009...
  • Idenix Pharmaceuticals To Present at 12th Annual BIO CEO & Investor Conference
  • Spherion Announces Acquisition of CFO Executive Services Firm Tatum
  • Cathay General Bancorp Announces Public Offering of Common Stock
  • Covanta Completes the Acquisition of Veolia's North American Energy-from-Waste Business
  • Starwood Property Trust, Inc. Announces Tax Reporting Information for 2009 Common Share...
  • Hologic Announces First Quarter Fiscal 2010 Operating ResultsStrong Performance - Revenues...
  • Oclaro Achieves Positive Cash Flow in Second Quarter Fiscal 2010-- Revenues Up 10%...
  • Uroplasty Reports Results For Third Quarter FY2010- Strong Macroplastique(R)...
  • EDGAR Online to Report Fourth Quarter Results and Host Conference Call on Wednesday,...
  • Preferred Bank Announces Capital Ratios
  • Attica and Lapeer, Michigan, Residents to Benefit From Verizon Wireless Network...
  • AK Steel Announces March 2010 Surcharges for Electrical and Stainless Steels
  • Savvis Executives to Present at Major Investor Conferences in February and March
  • Students Learn About 'Cyber Bullying' and Steps to Create a Safe and Secure Online...
  • Regal Beloit Corporation to Hold Fourth Quarter 2009 Earnings Conference Call on Thursday...
  • WebMD Announces Fourth Quarter Earnings Release Date and Conference Call
  • Verizon Waives Long-Distance Charges for Calls to Haiti From Customers' Residential...
  • PharmAthene Submits White Paper to BARDA for Advanced Development Funding for SparVax(TM)...
  • Comerica Bank Announces Expansion in Southern California: Six New Banking Centers in Los...
  • Away-From-Home Audience Puts Sports Viewing in the Red ZoneArbitron's PPM Data Shows...



    Savvis Executives to Present at Major Investor Conferences in February and March

    ST. LOUIS, February 1 /PRNewswire/ --

    Savvis, Inc. (Nasdaq: SVVS), a global leader in outsourced internet IT infrastructure services for enterprises, announced today that Greg Freiberg, chief financial officer, and Bryan Doerr, chief technology officer, will be presenting at several investor conferences in February and March.

    February 8, 2010: Thomas Weisel Partners 8th Annual Technology and Telecom Conference -- Bryan Doerr will present at 8 a.m. PST March 3, 2010: Morgan Stanley Technology, Media & Telecom Conference -- Greg Freiberg will present 2:10 p.m. PST

    Webcasts for both of the events will be available at the investor relations section of the Savvis Web site found at savvis.net. Replays of the webcasts will be available on the same site, following the live events.

    About Savvis

    Savvis, Inc. (NASDAQ: SVVS) is a global leader in outsourced internet infrastructure services for enterprises. More than 4,000 customers, including 40 percent of the top 100 companies in the Fortune 500, use Savvis to reduce capital expense, improve service levels and harness the latest advances in cloud computing. For more information visit www.savvis.net.

    Savvis, Inc.

    Investors, Peggy Reilly Tharp, +1-314-628-7491, peggy.tharp@savvis.net, or Media, Carter Cromley, +1-703-667-6110, carter.cromley@savvis.net, both of Savvis, Inc.




    Golden Dragon Holdings, Inc. Has Signed an Expansive Supply Agreement with Vanguard Group

    BEIJING, Feb. 1 /PRNewswire-FirstCall/ -- Golden Dragon Holdings, Inc. (Other OTC: GDHI - News) http://www.gdfbhk.com/ an international food and beverage distributor specializing in the distribution of US food & beverage brands to the Chinese market, today announces that it has signed, its first of several agreements with China Resources Enterprise Limited, aka/ Vanguard Group who operates more than 2,600 Supermarkets, Hyper Markets and Specialty Stores throughout China and Hong Kong. This initial agreement allows us to sell and service all 7 V'Ole Gourmet Supermarkets in Beijing.

    Mr. Frank Yglesias CEO stated, "This is just the tip of the iceberg and the potential of this relationship at this moment is too great to fully quantify. We will be able to sell our entire array of products through this agreement. Our focus will be to efficiently and accurately deliver products to their 7 Beijing V'Ole Supermarkets; which will allow us to prove ourselves as a reliable supplier. Once we have successfully proven ourselves in Beijing, we will develop a roadmap for all their Chains in China and Hong Kong. We are currently engaged in discussions with Vanguard to potentially supply their Supermarkets, VnGO convenience store and their Hypermarkets, which is China's version of a Big Box Store."

    About China Resources Vanguard

    China Resources Enterprise, Limited is a listed company on the Stock Exchange of Hong Kong (Stock Code: 00291) and is one of the constituent stocks of the Hang Seng Index. The Group focuses on the consumer businesses in both the Chinese Mainland and Hong Kong, with core activities being retail, beverage, food processing and distribution, textile and investment property. The retail subsidiary has grown to become No. 1 supermarket retailer in China. With over 2,600 chain stores located in Hong Kong, Shenzhen, Guangzhou, Zhong Shan, Zhu Hai, Su Zhou, Nan Jing, Beijing, Tianjin, Xian, Zheng Zhou and other major cities in PRC. CRV has more than 100,000 employees. With the diversified business, CRV currently operates 184 Vanguard Hypermarkets, 15 V'Ole Supermarkets, and 2,572 Vanguard Supermarkets and VnGO 24hrs convenience stores.

    V'Ole Supermarkets

    This high-end luxury gourmet supermarket chain focusing on VIP consumers, it offers authentic foods and beverages from France, Spain, USA, Canada, and Holland, just to mention a few. It has one of the best selections of world wines. Currently there are 15 chains throughout China, 7 of which are in Beijing.

    Mr. Cesar Cuenca President stated, "This is an excellent opportunity to show case our Centvm Vitis wine and other top wineries from Spain, France, Italy, Chile and Argentina that we are currently negotiating to have exclusivity rights for the Chinese market. We will be displaying this high end wine to the elite VIP consumers that shop in V'Ole Supermarkets."

    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/




    Sangamo BioSciences Announces Presentation at BIO CEO & Investor Conference

    RICHMOND, Calif., Feb. 1 /PRNewswire-FirstCall/ -- Sangamo BioSciences, Inc. announced today that Edward Lanphier, Sangamo's president and CEO, will provide an update on the progress of Sangamo's ZFP Therapeutic(TM) development programs and an overview of the company's business strategy at 9:00 am ET on Monday, February 8, 2010 at the 12th Annual BIO CEO & Investor Conference which will be held in New York City.

    The presentation will be webcast live and may be accessed via a link on the Sangamo BioSciences website in the Investor Relations section http://investor.sangamo.com/index.cfm under Events and Presentations. The presentation will be archived on the Sangamo website for two weeks after the event.

    About Sangamo

    Sangamo BioSciences, Inc. is focused on the research and development of novel DNA-binding proteins for therapeutic gene regulation and modification. The most advanced ZFP Therapeutic(TM) development program is currently in a Phase 2b clinical trial for evaluation of safety and clinical effect in patients with diabetic neuropathy and a Phase 2 trial in ALS. Sangamo also has two Phase 1 clinical trials to evaluate safety and clinical effect of a treatment for HIV/AIDS and another Phase 1 trial to evaluate safety and clinical effect of a treatment for recurrent glioblastoma multiforme. Other therapeutic development programs are focused on neuropathic pain, nerve regeneration, Parkinson's disease and monogenic diseases. Sangamo's core competencies enable the engineering of a class of DNA-binding proteins known as zinc finger DNA-binding proteins (ZFPs). By engineering ZFPs that recognize a specific DNA sequence Sangamo has created ZFP transcription factors (ZFP TFs) that can control gene expression and, consequently, cell function. Sangamo is also developing sequence-specific ZFP Nucleases (ZFNs) for gene modification. Sangamo has established strategic partnerships with companies in non-therapeutic applications of its technology including Dow AgroSciences and Sigma-Aldrich Corporation. For more information about Sangamo, visit the company's web site at http://www.sangamo.com/.

    Sangamo BioSciences, Inc.

    CONTACT: Elizabeth Wolffe, Ph.D, of Sangamo BioSciences, Inc.,
    +1-510-970-6000, ext. 271, ewolffe@sangamo.com

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




    Telik Announces Presentation and Webcast at 12th Annual BIO CEO & Investor Conference

    PALO ALTO, Calif., Feb. 1 /PRNewswire-FirstCall/ -- Telik, Inc. today announced that company management will provide a corporate overview at the 12th Annual BIO CEO & Investor Conference in New York City on Tuesday, February 9 at 3:00 p.m. Eastern time (12:00 p.m. Pacific time). A live and archived webcast of the presentation will be available on the Telik website, http://www.telik.com/.

    Telik, Inc. of Palo Alto, CA, is a clinical stage drug development company focused on discovering and developing small molecule drugs to treat cancer and inflammatory diseases. The company's most advanced investigational drug candidates in clinical development are TELINTRA®, a modified glutathione analog for the treatment of cytopenias due to myelodysplastic syndrome or chemotherapy, and TELCYTA®, a tumor-activated prodrug for the treatment of advanced ovarian cancer and non-small cell lung cancer. Telik's product candidates were discovered using its proprietary drug discovery technology, TRAP®, which enables the rapid and efficient discovery of small molecule drug candidates.

    TELIK, the Telik logo, TELINTRA, TELCYTA and TRAP are trademarks or registered trademarks of Telik, Inc.

    Telik, Inc.

    CONTACT: Patricia P. Frias, Corporate Communications of Telik, Inc.,
    +1-650-845-7927, pfrias@telik.com

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




    Extreme Networks Exceeds Revenue Guidance for QuarterReports 27 Percent Sequential Product Revenue Growth

    SANTA CLARA, Calif., Feb. 1 /PRNewswire-FirstCall/ -- Extreme Networks, Inc. today announced financial results for its 2010 fiscal second quarter ended December 27, 2009. For the quarter, net revenue was $79.4 million, above the guidance for the quarter of $76 to $78 million. This represents a sequential increase in revenue of roughly 20 percent compared to revenue of $66.3 million in the previous quarter and approximately a 9 percent decrease compared to revenue of $87.5 million in the second quarter of last year.

    Second quarter non-GAAP operating income was $4.3 million or 5.4 percent of net revenue, compared to $2.6 million or 3.0 percent of net revenue in the second quarter of last year. Additionally, non-GAAP net income was $4.8 million or $0.05 per diluted share, compared to non-GAAP net income of $3.5 million or $0.04 per diluted share in the second quarter of last year. Non-GAAP financial results exclude the impact of stock-based compensation and restructuring charges. A reconciliation of GAAP to non-GAAP financial measures is included in the accompanying financial tables.

    "Operating under a simpler and more functional structure, we worked with our suppliers to resolve supply chain constraints and improved operational execution across the company," said Bob L. Corey, CFO and acting President & CEO of Extreme Networks. "In early December, we announced our Data Center vision to help Customers migrate from the physical to the virtual to the cloud, all without forcing a technology or operating methodology on the Customer. In January, we announced the most current additions to our Data Center product line, the Black Diamond 8900 XL modules and the X480 stackable switches, both of which are expected to be available in Q3."

    For the second quarter, net revenue in North America was $27.5 million, revenue in EMEA was $37.8 million, and revenue in APAC was $14.1 million. That compares to revenue of $26.9 million in North America, $28.1 million in EMEA, and $11.4 million in APAC in the previous quarter.

    Net loss on a GAAP basis for the second quarter was $1.4 million or $0.02 per diluted share, which included a restructuring charge of $4.1 million and a charge of approximately $2.0 million related to stock based compensation. The net loss this quarter of $1.4 million compares to net income of $2.5 million or $0.03 per diluted share in the second quarter of last year. Operating loss on a GAAP basis for the second quarter was $1.9 million, compared to operating income of $1.6 million for the second quarter of last year.

    Conference Call and Slide Presentation

    Extreme Networks will host a conference call to discuss these results today at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). The conference call may be heard by dialing 1-800-289-0459 (international callers dial 1-913-312-0725). A 48-hour replay will be available following the call by dialing 1-888-203-1112 (international callers dial 1-719-457-0820); the replay passcode is 1370354. In addition, a live webcast and replay of the call will be available at http://investor.extremenetworks.com/.

    PLEASE NOTE: throughout the conference call, the Company will refer to a slide presentation that will be posted in the Investor Relations section of the Company's website at http://investor.extremenetworks.com/.

    Non-GAAP Financial Measures

    Extreme Networks provides all financial information required in accordance with generally accepted accounting principles (GAAP). To supplement our consolidated financial statements presented in accordance with GAAP, we are also providing with this press release non-GAAP net income. In preparing our non-GAAP information, we have excluded, where applicable, the impact of restructuring charges (a non-recurring charge) and share-based compensation (a non-cash charge). Because of the non-recurring and/or non-cash nature of these charges, we believe that excluding them provides both management and investors with additional insight into our current operations, the trends affecting the Company and the Company's marketplace performance. In particular, management finds it useful to exclude these charges in order to more readily correlate the Company's operating activities with the Company's ability to generate cash from operations. Accordingly, management uses these non-GAAP measures, along with the comparable GAAP information, in evaluating our historical performance and in planning our future business activities. Please note that our non-GAAP measures may be different than those used by other companies. The additional non-GAAP financial information we present should be considered in conjunction with, and not as a substitute for, our financial information presented in accordance with GAAP. We have provided a non-GAAP reconciliation of the Consolidated Statement of Operations for the periods presented in this release, which are adjusted to exclude restructuring charges and share-based compensation expense for these periods. These measures should only be used to evaluate the Company's results of operations in conjunction with the corresponding GAAP measures for comparable financial information and understanding of the Company's ongoing performance as a business. Extreme Networks uses both GAAP and non-GAAP measures to evaluate and manage its operations.

    Extreme Networks, Inc.

    Extreme Networks provides converged Ethernet network infrastructure that support data, voice and video for enterprises and service providers. The company's network solutions feature high performance, high availability and scalable switching solutions that enable organizations to address real-world communications challenges and opportunities. Operating in more than 50 countries, Extreme Networks provides wired and wireless secure LANs, data center infrastructure and Service Provider Ethernet transport solutions that are complemented by global, 24x7 service and support. For more information, visit: http://www.extremenetworks.com/.

    Extreme Networks is either a trademark or registered trademark of Extreme Networks, Inc. in the United States and/or other countries.

    This announcement contains forward-looking statements that involve risks and uncertainties, including statements regarding the Company's financial performance and supply chain constraints. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: a challenging macro-economic environment both in the United States and overseas; fluctuations in demand for the Company's products and services; a highly competitive business environment for network switching equipment; its effectiveness in controlling expenses, the possibility that the Company might experience delays in the development of new technology and products; customer response to its new technology and products; the timing of any recovery in the global economy; risks related to pending or future litigation, and a dependency on third parties for certain components and for the manufacturing of the Company's products. The Company undertakes no obligation to update the forward-looking information in this release. More information about potential factors that could affect the Company's business and financial results is included in its filings with the Securities and Exchange Commission, including, without limitation, under the captions: "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Risk Factors," which are on file with the Securities and Exchange Commission."

    EXTREME NETWORKS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts) December 27, June 28, 2009 2009 ---- ---- (unaudited) (1) ASSETS Current assets: Cash and cash equivalents $50,299 $46,195 Short-term investments 58,663 8,976 Accounts receivable, net 40,598 37,616 Inventories, net 16,645 12,380 Deferred income taxes 337 244 Prepaid expenses and other current assets, net 2,566 4,368 ----- ----- Total current assets 169,108 109,779 Property and equipment, net 43,848 44,229 Marketable securities 26,463 72,231 Other assets, net 15,538 13,736 ------ ------ Total assets $254,957 $239,975 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $22,181 $12,771 Accrued compensation and benefits 12,028 12,320 Restructuring liabilities 4,392 3,559 Accrued warranty 3,229 3,170 Deferred revenue, net 31,884 30,058 Deferred revenue, net of cost of sales to distributors 16,186 9,821 Other accrued liabilities 16,133 14,666 ------ ------ Total current liabilities 106,033 86,365 Restructuring liabilities, less current portion 1,775 3,519 Deferred revenue, less current portion 6,830 7,425 Deferred income taxes 620 564 Other long-term liabilities 559 592 Commitments and contingencies - Stockholders' equity: Convertible preferred stock, $.001 par value, issuable in series, 2,000,000 shares authorized; none issued - - Common stock, $.001 par value, 750,000,000 shares authorized; 128,972,227 issued at December 27, 2009 (128,425,140 June 28, 2009) and capital in excess of par value 129 128 Treasury stock, 39,625,305 shares at December 27, 2009 and June 28, 2009 (149,666) (149,666) Additional paid-in- capital 952,802 949,113 Accumulated other comprehensive income 2,124 1,323 Accumulated deficit (666,249) (659,388) -------- -------- Total stockholders' equity 139,140 141,510 ------- ------- Total liabilities and stockholders' equity $254,957 $239,975 ======== ======== (1) The information in this column is derived from the Company's consolidated balance sheet included in the Company's Annual Report on Form 10-K for the year ended June 28, 2009. EXTREME NETWORKS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (unaudited) Three Months Ended Six Months Ended ------------------- ---------------- December 27, December 28, December 27, December 28, 2009 2008 2009 2008 ---- ---- ---- ---- Net revenues: Product $64,469 $72,580 $115,228 $146,929 Service 14,928 14,968 30,478 30,145 ------ ------ ------ ------ Total net revenues 79,397 87,548 145,706 177,074 ------ ------ ------- ------- Cost of revenues: Product 27,199 31,411 50,917 61,544 Service 6,426 7,446 12,248 15,407 ----- ----- ------ ------ Total cost of revenues 33,625 38,857 63,165 76,951 ------ ------ ------ ------ Gross profit: Product 37,270 41,169 64,311 85,385 Service 8,502 7,522 18,230 14,738 ----- ----- ------ ------ Total gross profit 45,772 48,691 82,541 100,123 ------ ------ ------ ------- Operating expenses: Sales and marketing 24,553 25,776 46,155 51,633 Research and development 12,422 13,924 26,032 30,529 General and administrative 6,517 7,412 13,755 15,851 Restructuring, net 4,145 - 3,633 - ----- --- ----- --- Total operating expenses 47,637 47,112 89,575 98,013 ------ ------ ------ ------ Operating (loss) income (1,865) 1,580 (7,034) 2,111 Interest income 388 870 710 2,293 Interest expense (30) (19) (69) (69) Other income / (expense), net (135) 768 (295) 1,316 ---- --- ---- ----- (Loss) income before income taxes (1,642) 3,199 (6,688) 5,651 Provision for income taxes (263) 733 173 1,546 ------- ------ ------- ------ Net (Loss) Income $(1,379) $2,466 $(6,861) $4,105 ======= ====== ======= ====== Basic and diluted net income per share: Net (loss) income per share - basic (0.02) 0.03 (0.08) 0.04 Net (loss) income per share - diluted (0.02) 0.03 (0.08) 0.04 Shares used in per share calculation - basic 89,059 88,323 88,951 99,823 Shares used in per share calculation - diluted 89,059 88,363 88,951 99,925 EXTREME NETWORKS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (unaudited) Six Months Ended ---------------- December 27, December 28, 2009 2008 ---- ---- Cash flows from operating activities: Net (loss) income $(6,861) $4,105 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation and amortization 3,023 2,745 (Gain) / loss on value of option to put securities 47 (6,778) Mark to market, trading loss / (gain) on trading securities (47) 6,778 Provision for doubtful accounts - 56 Provision for excess and obsolete inventory 960 819 Deferred income taxes (69) 68 Loss on retirement of assets 78 94 Stock-based compensation 3,158 1,396 Restructuring, net 3,633 - Changes in operating assets and liabilities, net Accounts receivable (2,982) 19,504 Inventories (5,216) (9,157) Prepaid expenses and other assets (3) (928) Accounts payable 9,410 10,801 Accrued compensation and benefits (290) (5,943) Restructuring liabilities (4,418) (1,329) Accrued warranty 60 (1,307) Deferred revenue, net 1,231 200 Deferred revenue, net of cost of sales to distributors 6,365 1,082 Other accrued liabilities 2,154 (4,398) ----- ------ Net cash provided by operating activities 10,233 17,808 ------ ------ Cash flows (used in) provided by investing activities: Capital expenditures (2,720) (3,334) Purchases of investments (18,958) (25,166) Proceeds from maturities of investments and marketable securities 8,775 28,164 Proceeds from sales of investments and marketable securities 6,377 46,225 ----- ------ Net cash (used in) provided by investing activities (6,526) 45,889 ------ ------ Cash flows provided by (used in) financing activities: Proceeds from issuance of common stock 397 1,614 Repurchase of common stock, including expenses - (101,363) --- -------- Net cash provided by (used in) financing activities 397 (99,749) --- ------- Net increase (decrease) in cash and cash equivalents 4,104 (36,052) ----- ------- Cash and cash equivalents at beginning of period 46,195 70,370 Cash and cash equivalents at end of period $50,299 $34,318 ======= ======= EXTREME NETWORKS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS GAAP TO NON-GAAP RECONCILIATION (In thousands, except per share amounts) (Unaudited) Three Six Months Ended Months Ended ------------ ------------ December December December December 27, 28, 27, 28, 2009 2008 2009 2008 ---- ---- ---- ---- Net (loss) income - GAAP Basis $(1,379) $2,466 $(6,861) $4,105 ======= ====== ======= ====== Non-GAAP adjustments Stock-based compensation expense $2,030 $1,004 $3,166 $1,390 Restructuring, net $4,145 $- $3,633 $- ------ --- ------ --- $6,175 $1,004 $6,799 $1,390 ------ ------ ------ ------ Net income (loss) - Non- GAAP Basis $4,796 $3,470 $(62) $5,495 ====== ====== ==== ====== Non-GAAP adjustments Cost of product revenue $155 $75 $223 $10 Cost of service revenue 146 61 221 93 Sales and marketing 683 328 979 503 Research and development 611 311 986 462 General and administrative 435 229 757 322 Restructuring, net 4,145 - 3,633 - ----- --- ----- --- Total non-GAAP adjustments $6,175 $1,004 $6,799 $1,390 ====== ====== ====== ======

    Extreme Networks, Inc.

    CONTACT: Extreme Networks, Inc., Investor Relations, +1-408-579-3030,
    investor_relations@extremenetworks.com, or Public Relations, +1-408-579-3483,
    gcross@extremenetworks.com

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




    Novellus Systems Ships 1000th VECTOR(R) PECVD SystemIndustry-leading Dielectric Deposition System Accepted by GLOBALFOUNDRIES for High-volume Manufacturing

    SAN JOSE, Calif., Feb. 1 /PRNewswire-FirstCall/ -- Novellus Systems today announced that it has shipped the company's 1000th VECTOR plasma-enhanced chemical vapor deposition (PECVD) system to GLOBALFOUNDRIES' Fab 7 in Singapore. A leading provider of advanced semiconductor manufacturing technology, GLOBALFOUNDRIES recently integrated the operations of Chartered Semiconductor Manufacturing, and will use the milestone 300mm VECTOR Express(TM) for high-volume manufacturing at the 65nm technology node and beyond in Fab 7.

    (Photo: http://www.newscom.com/cgi-bin/prnh/20100201/SF47334)

    Originally introduced in July of 2000, the VECTOR system is a manufacturing workhorse used to deposit a wide range of dielectric applications. In the front-end-of-line (FEOL), VECTOR is used to deposit gate spacers and liners, high stress films for straining silicon, amorphous carbon and anti-reflective layers, hard mask films and etch stop layers. Back-end-of-line (BEOL) applications include inter-metal and inter-layer dielectrics, copper diffusion barrier films, low dielectric constant capping layers, and final passivation layers. Recently, VECTOR is being employed for emerging dielectric applications, such as ultra-low dielectric constant (ULK) films and dielectric layers used in through-silicon-via (TSV) packaging technology.

    VECTOR's strong acceptance in the semiconductor manufacturing market is a result of the product's high capital productivity, low installation and operating costs, small system footprint, high wafer-to-wafer repeatability, and single digit defect performance in the sub-100 nm particle sizes.

    "The Novellus VECTOR platform is used in high-volume production at 65nm and in the advanced 45/40nm technology nodes in Fab 7 for both FEOL and BEOL dielectric applications," said Peter Benyon, head of Fab 7 operations at GLOBALFOUNDRIES. "We look forward to continuing our partnership with Novellus in developing cost-effective, advanced technological solutions to help our customers rapidly bring their innovative designs to market."

    "We are very pleased to be commemorating this milestone shipment with the company's acceptance of our 1000th tool, as Chartered becomes a part of the new GLOBALFOUNDRIES," said Kevin Jennings, senior vice president of Novellus' PECVD business unit. "Chartered purchased its first VECTOR system in 2004, and had long been an important customer of Novellus. We hope to develop an equally close relationship with GLOBALFOUNDRIES."

    About Novellus

    Novellus Systems, Inc. is a leading provider of advanced process equipment for the global semiconductor industry. The company's products deliver value to customers by providing innovative technology backed by trusted productivity. An S&P 500 company, Novellus is headquartered in San Jose, Calif. with subsidiary offices across the globe. For more information, please visit http://www.novellus.com/

    Novellus and VECTOR are registered trademarks, and VECTOR Express is a trademark of Novellus Systems, Inc.

    Photo: http://www.newscom.com/cgi-bin/prnh/20100201/SF47334
    PRN Photo Desk, photodesk@prnewswire.com Novellus Systems, Inc.

    CONTACT: Bob Climo of Novellus Systems, Inc., +1-408-943-9700,
    bob.climo@novellus.com; or Marla Kertzman of The Hoffman Agency,
    +1-408-975-3032, mkertzman@hoffman.com, for Novellus Systems, Inc.

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




    AnalogicTech to Present at Thomas Weisel Partners 8th Annual Technology and Telecom Conference

    SANTA CLARA, Calif., Feb. 1 /PRNewswire-FirstCall/ -- Advanced Analogic Technologies, Inc. (AnalogicTech), an analog semiconductor company focused on powering innovative solutions in consumer, industrial, and communications markets, announced today that members of its management team will present to investors at the following financial conference:

    (Logo: http://www.newscom.com/cgi-bin/prnh/20050829/SFTU089LOGO) Thomas Weisel Partners 8th Annual Technology and Telecom Conference Date: February 10, 2010 Time: 2:40 p.m. PT Location: The Fairmont Hotel in San Francisco, California

    Live webcasts of AnalogicTech's presentation will be available on the company's investor relations website at http://www.aati.com/ in the "Webcasts" section.

    About AnalogicTech

    Advanced Analogic Technologies (AATI) develops advanced semiconductor system solutions that play a key role in the continuing evolution of feature-rich, energy efficient electronic devices. The company focuses on addressing the application-specific power management needs of consumer devices such as mobile handsets, digital cameras, and netbooks/notebooks, as well as devices in a broad range of industrial, medical and telecom applications. AATI also licenses device, process, package, and application-related technologies. Headquartered in Silicon Valley, AATI has design centers in Santa Clara and Shanghai, and Asia-based operations and logistics. For more information, please visit http://www.analogictech.com/. (AnalogicTech - F)

    AnalogicTech and the AnalogicTech logo are trademarks of Advanced Analogic Technologies, Inc.

    Photo: http://www.newscom.com/cgi-bin/prnh/20050829/SFTU089LOGO
    http://photoarchive.ap.org/
    PRN Photo Desk photodesk@prnewswire.com Advanced Analogic Technologies, Inc.

    CONTACT: Lisa Laukkanen of The Blueshirt Group, +1-415-217-4967,
    lisa@blueshirtgroup.com, for Advanced Analogic Technologies

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




    Optelecom-NKF Announces Sales Team Restructuring

    GERMANTOWN, Md., Feb. 1 /PRNewswire-FirstCall/ -- Optelecom-NKF, Inc. , a leading global provider of Siqura® IP surveillance solutions, today announced it will restructure its sales team to support focus and growth in its global regions.

    Fabien Haubert has been promoted to the role of Senior Sales Director - Europe, Middle East and Africa. Chuck Queri has been promoted to the position of Senior Sales Director for the Americas. Both Haubert and Queri will join Optelecom-NKF's Leadership Team.

    "We're working hard to improve our sales efforts. Fabien and Chuck will be the driving force in fueling improvement," said Optelecom-NKF's president and CEO, Dave Patterson. "This new structure will be good for our company and even better for our partners. The creation of these positions allows us to deliver an even higher level of focus and service to these key regions."

    The Company also announced the planned departure of Roland Hooghiemstra, VP of Global Sales and Support, effective April 30. "I want to thank Roland for his service to Optelecom-NKF," Mr. Patterson added. "All of us wish him the best in his future endeavors."

    About Optelecom-NKF

    Optelecom-NKF, Inc. , manufacturer of Siqura® advanced video surveillance solutions, provides a full range of network products based on an open technology platform that simplifies integration and installation. Our Siqura solutions offer a perfect blend of ease of use and processing power, enabling end-users to optimize the effectiveness of their surveillance systems while reducing the total cost of ownership. All products and solutions are developed and tested for professional and missioncritical applications, such as at highway departments, airports, seaports, casinos, public transport authorities, hospitals, city centers, shopping centers, military bases, and corporate and government campuses. Founded in 1972, Optelecom-NKF is committed to providing its customers with expert technical advice and support.

    Investor inquiries should be directed to Mr. Rick Alpert at +1 301-948-7872.

    For more information please visit our website: http://www.optelecom-nkf.com/

    Optelecom-NKF, Inc.

    CONTACT: Investor inquiries, Mr. Rick Alpert, +1-301-948-7872; Press
    inquiries for Europe, Middle East, Africa and Asia, Kate Huber,
    +31-182-592-215, khuber@optelecom-nkf.com; Press inquiries for North and Latin
    America, Betsy Lanning, +1-301-444-2276, blanning@optelecom-nkf.com

    Web Site: http://www.optelecom-nkf.com/




    Innophos Holdings, Inc. Schedules Call to Discuss Fourth Quarter and Full Year 2009 Results

    CRANBURY, N.J., Feb. 1 /PRNewswire-FirstCall/ -- Innophos Holdings, Inc. , a leading specialty phosphates producer in North America, today announced that it will host a live conference call on Thursday, February 18, 2010 at 10:00 am ET to discuss its fourth quarter and full year 2009 results.

    The press release detailing fourth quarter results will be issued on Wednesday, February 17, 2010 after market close.

    The conference call can be accessed by dialing 888-713-4216 (U.S.) or 617-213-4868

    (international) and entering passcode 29348676. A replay will be available between 1:00 pm ET on

    February 18 and 1:00 pm ET on February 24, 2010. The replay is accessible by dialing 888-286-8010 (U.S.) or 617-801-6888 (international) and entering passcode 46525811.

    If you would like to pre-register for the conference call use the following link:

    https://www.theconferencingservice.com/prereg/key.process?key=PYMWC3Y3X

    Pre-registering is not mandatory but is recommended, as it will provide you immediate entry into the call and will facilitate the timely start of the conference. You will receive a code that allows you to enter the call directly. Pre-registration only takes a few moments, and you may do so at any time, including up to and after call start time. To pre-register, please click the link above. Alternately, if you would rather be placed into the call by an operator, please call at least 15 minutes prior to call start time.

    Alternately, the webcast of the conference call can be accessed live and as a replay at Innophos' web site http://www.innophos.com/ in the Investor Relations Events section.

    About Innophos, Inc.

    Innophos Holdings, Inc., the holding company for a leading North American manufacturer of specialty phosphates, serves a diverse range of customers across multiple applications, geographies and channels. Innophos offers a broad suite of products used in a wide variety of food and beverage, consumer products, pharmaceutical and industrial applications. Innophos' market-leading positions derive from its experience and dedication to customer service and innovation. Headquartered in Cranbury, New Jersey, Innophos has manufacturing operations in Nashville, TN; Chicago Heights, IL; Chicago (Waterway), IL; Geismar, LA; Port Maitland, ON (Canada); and Coatzacoalcos, Veracruz and Mission Hills, Guanajuato (Mexico). For more information please see http://www.innophos.com/.

    IPHS-G

    Innophos Holdings, Inc.

    CONTACT: Innophos Investor Relations, +1-609-366-1299,
    investor.relations@innophos.com, or Maura Gedid, The Breakstone Group,
    +1-646-452-2335

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




    Idenix Pharmaceuticals To Present at 12th Annual BIO CEO & Investor Conference

    CAMBRIDGE, Mass., Feb. 1 /PRNewswire-FirstCall/ -- Idenix Pharmaceuticals, Inc. announced today that Idenix management will present a corporate overview at the upcoming 12th Annual BIO CEO & Investor Conference on Monday, February 8, 2010 at 9:30 a.m. ET at the Waldorf-Astoria Hotel in New York, NY.

    The live and archived webcast of the company presentation can be accessed under "Calendar of Events" in the Idenix Investor Center at http://www.idenix.com/. Please log in approximately 5-10 minutes before the event to ensure a timely connection. The archived replay will be available on the Idenix website for two weeks following the conference.

    About Idenix

    Idenix Pharmaceuticals, Inc., headquartered in Cambridge, Massachusetts, is a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases. Idenix's current focus is on the treatment of infections caused by the hepatitis C virus. For further information about Idenix, please refer to http://www.idenix.com/.

    Idenix Pharmaceuticals Contact:

    Teri Dahlman (617) 995-9905

    Idenix Pharmaceuticals, Inc.

    CONTACT: Teri Dahlman of Idenix Pharmaceuticals, +1-617-995-9905

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




    Spherion Announces Acquisition of CFO Executive Services Firm Tatum

    FORT LAUDERDALE, Fla., Feb. 1 /PRNewswire-FirstCall/ -- Spherion Corporation today announced the acquisition of Tatum, LLC (Tatum), a leading executive services firm focused on the office of the chief financial officer (CFO). Total consideration for the transaction is $46 million, comprised of $11 million in Spherion stock and the remainder in cash and assumed liabilities.

    Commenting on the Tatum acquisition, Spherion president and CEO Roy Krause noted, "This acquisition represents another step in the execution of our stated strategy of increasing our higher-margin professional services business, while also expanding our presence in the C-level interim and consulting market. Tatum is well-known for their deep expertise and focus on the CFO and will complement our existing professional services business. As a result of this transaction, professional services revenues account for approximately 44% of total revenue. We also see significant opportunities for revenue growth through our combined relationships, while achieving cost synergies through the reduction of duplicative back-office functionality. We welcome the addition of Tatum's senior management team to the Spherion family and look forward to their contributions as we become a leader in the C-level interim and consulting marketplace."

    "Both companies bring unique strengths to this merger," said Rich D'Amaro, chairman and chief executive officer of Tatum. "Tatum will be able to leverage its C-level management and consulting service offerings across a much larger customer base and retain its partnership culture, while relying on Spherion's back-office infrastructure."

    William Grubbs, Spherion's executive vice president and chief operating officer, added, "Tatum's focus on value-added services fits perfectly with Spherion's commitment to delivering service excellence. With average billing rates of $190 and approximately 650 professionals, including over 400 CFO-level partners, Tatum, in combination with Mergis, Technisource and SourceRight, enhances our capability to provide seasoned CFOs and other highly skilled professionals to solve client challenges."

    SYNERGIES AND VALUATION

    Tatum's field operations will remain independent and its back-office operations will be consolidated into Spherion's existing service center. The integration and consolidation are expected to be substantially completed by March 31, 2010.

    Once the integration and consolidation are completed, there should be approximately $6 million of annualized cost savings. With this level of cost synergies, Spherion estimates that the purchase price of $46 million is approximately 5.5x estimated 2009 pro forma earnings before interest, taxes, depreciation and amortization (EBITDA) of Tatum. Assuming 2010 revenues about flat with 2009 ($117 million) and realization of approximately 65% - 75% of the $6 million cost synergies, Tatum should be approximately $0.03 to $0.05 per share accretive to Spherion in 2010.

    TRANSACTION DETAILS

    Spherion will fund the transaction by utilizing its existing cash resources and revolving line of credit and by issuing approximately 1.8 million shares of Spherion common stock. Total borrowings after closing will be approximately $45 million with debt to capitalization of less than 15%.

    Foros Securities LLC acted as exclusive financial advisor to Spherion. INVITATION TO CONFERENCE CALL

    Management will host its scheduled conference call February 4, 2010 at 9:00 a.m. Eastern time to discuss information contained in this release and to discuss fourth quarter 2009 operating results. Management will also discuss information that is currently posted in the Investor Relations section, Presentations page, of our website at http://www.spherion.com/. The presentation will be the basis during the conference call for management's discussion of the acquisition. The call may be accessed in one of the following ways:

    Via the Telephone: Please dial 1-(800) 230-1766 The conference call leader is Roy Krause The pass code: Spherion Earnings Call Via the Internet:

    You may access the call via the Internet through the Company's Web site: http://www.spherion.com/.

    Replay:

    A replay of the call will be available one hour after the live call has ended. You may listen to the replay of the call over the Internet through http://www.spherion.com/.

    ABOUT SPHERION

    Spherion Corporation is a strategic workforce solutions company that provides recruiting, staffing, consulting and outsourcing specialties to meet the evolving needs of companies and job candidates. As an industry pioneer for more than 60 years, Spherion has sourced, screened and placed millions of individuals in temporary, temp-to-hire and full-time jobs.

    With approximately 575 locations in the United States and Canada, Spherion delivers strategic workforce solutions that improve business performance. Spherion provides its services to approximately 8,000 customers, from Fortune 500 companies to a wide range of small and mid-size organizations. Employing more than 160,000 people annually through its network, Spherion is one of North America's largest employers, providing general staffing, technology services, professional services and outsourcing. To learn more, visit http://www.spherion.com/.

    This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. Factors that could cause future results to differ from current expectations include risks associated with: Competition - our business operates in highly competitive markets with low barriers to entry; Economic conditions - any significant economic downturn could result in lower revenues or a significant reduction in demand from our customers may result in a material impact on the results of our operations; Customers - a loss of customers may result in a material impact on our results of operations; Debt and debt compliance - market conditions and failure to meet certain requirements could impact our availability to borrow under our revolving lines of credit and the cost of our borrowings; Corporate strategy - we may not achieve the intended effects of our business strategy; Termination provisions - certain contracts contain termination provisions and pricing risks; Failure to perform - our failure or inability to perform under customer contracts could result in damage to our reputation and give rise to legal claims; Acquisitions - managing or integrating past and future acquisitions may strain our resources; Business interruptions - natural disasters or failures with hardware, software or utilities could adversely affect our ability to complete normal business processes; Tax filings - regulatory challenges to our tax filing positions could result in additional taxes; Personnel - our business is dependent upon the availability of qualified personnel and we may lose key personnel which could cause our business to suffer; Litigation - we may be exposed to employment-related claims and costs and we are a defendant in a variety of litigation and other actions from time to time; Government regulation - government regulation may significantly increase our costs; International operations - we are subject to business risks associated with our operations in Canada, which could make those operations significantly more costly; and Common stock - the price of our common stock may fluctuate significantly, which may result in losses for our investors, and further decreases in the Company's common stock price and market capitalization may impact our ability to comply with the NYSE continued listing standards. These and additional factors discussed in this release and in Spherion's filings with the Securities and Exchange Commission could cause the Company's actual results to differ materially from any projections contained in this release.

    Spherion Corporation

    CONTACT: Investor Contact: Randy Atkinson, +1-954-308-7639,
    randalatkinson@spherion.com; or Media Contact: Lesly Cardec, +1-800-422-3819,
    leslycardec@spherion.com

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




    Cathay General Bancorp Announces Public Offering of Common Stock

    LOS ANGELES, Feb. 1 /PRNewswire-FirstCall/ -- Cathay General Bancorp (the "Company", Nasdaq: CATY), the holding company for Cathay Bank, today announced that it has commenced an underwritten public offering (the "Offering") for gross proceeds up to $100 million in shares of its common stock.

    The Company has granted the underwriters a 30-day option to purchase up to an additional $15 million in shares of its common stock to cover over-allotments, if any. BofA Merrill Lynch is acting as sole bookrunner and Goldman, Sachs & Co. is acting as co-manager for the offering.

    The Offering will be made pursuant to a prospectus supplement to the Company's prospectus dated November 19, 2009, filed as part of the Company's effective registration statement. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to these securities may be obtained by contacting BofA Merrill Lynch, Attention: Preliminary Prospectus Department, 4 World Financial Center, New York, NY 10080, or email Prospectus.Requests@ml.com.

    This press release is neither an offer to sell, nor a solicitation of an offer to buy, any securities of the Company, and there shall not be any sale of securities of the Company in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

    ABOUT CATHAY GENERAL BANCORP

    Cathay General Bancorp is the holding company for Cathay Bank, a California state-chartered bank. Founded in 1962, Cathay Bank offers a wide range of financial services. Cathay Bank currently operates 31 branches in California, eight branches in New York State, one in Massachusetts, two in Texas, three in Washington State, three in the Chicago, Illinois area, one in New Jersey, one in Hong Kong, and a representative office in Shanghai and in Taipei.

    FORWARD-LOOKING STATEMENTS AND OTHER NOTICES

    The information contained in this press release is not intended as a solicitation to buy Cathay General Bancorp stock or any other securities and is provided for information only. Statements made in this press release, other than statements of historical fact, are forward-looking statements within the meaning of the applicable provisions of the Private Securities Litigation Reform Act of 1995 regarding management's beliefs, projections, and assumptions concerning future results and events. These forward-looking statements, including statements relating to Cathay General Bancorp's expectations regarding the completion and size of the proposed public offering, may include, but are not limited to including, such words as "will," "up to" and variations of these words and similar expressions. Forward-looking statements are based on estimates, beliefs, projections, and assumptions and are not guarantees of future performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. There can be no assurance that Cathay General Bancorp will be able to complete the public offering on the anticipated terms, or at all, as a result of these risks and uncertainties and other factors, which include, but are not limited to, adverse developments or conditions related to or arising from: significant volatility and deterioration in the credit and financial markets; adverse changes and disruption in general economic conditions and the capital markets; the effects of the Emergency Economic Stabilization Act, difficult conditions in the U.S. and international financial markets; volatility or deterioration in the price of our common stock; the American Recovery and Reinvestment Act, and the Troubled Asset Relief Program (TARP) and any changes or amendments thereto; credit loss and deterioration in asset or credit quality; the availability of capital; the impact of any goodwill impairment that may be determined; acquisitions of other banks, if any; fluctuations in interest rates; liquidity risk; inflation and deflation; real estate market conditions; the soundness of other financial institutions; expansion into new market areas; earthquakes, wildfires, or other natural disasters; our ability to compete with competitors and competitive pressures; our ability to retain key personnel; current and potential future supervisory action by bank supervisory authorities; changes in laws, regulations, and accounting rules, or their interpretations; legislative, judicial, or regulatory actions and developments against us; general economic or business conditions in California and other regions where Cathay Bank has operations, including, but not limited to, adverse changes in economic conditions resulting from the continuation or worsening of the current economic downturn; and the satisfaction of customary closing conditions related to the public offering.

    These and other factors are further described in Cathay General Bancorp's Current Report on Form 8-K filed on November 23, 2009 (Item 8.01 in particular), other reports filed with the Securities and Exchange Commission ("SEC"), and other filings Cathay General Bancorp makes with the SEC from time to time; including the prospectus supplement related to the offering described above. Actual results in any future period may also vary from the past results discussed in this press release. Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements, which speak to the date of this press release. Cathay General Bancorp has no intention and undertakes no obligation to update any forward-looking statement or to publicly announce any revision of any forward-looking statement to reflect future developments or events, except as required by law.

    Cathay General Bancorp's filings with the SEC are available at the website maintained by the SEC at http://www.sec.gov/, or by request directed to Cathay General Bancorp, 9650 Flair Drive, El Monte, California 91731, Attention: Investor Relations (626) 279-3286.

    Cathay General Bancorp

    CONTACT: Heng W. Chen of Cathay General Bancorp, +1-626-279-3652

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




    Covanta Completes the Acquisition of Veolia's North American Energy-from-Waste Business

    FAIRFIELD, N.J., Feb. 1 /PRNewswire-FirstCall/ -- Covanta Holding Corporation ("Covanta" or the "Company"), today announced that it has successfully completed its previously announced acquisition of a 3,000 ton per day operating contract in Miami-Dade County, FL. Completing this final stage of the acquisition of Veolia's North American Energy-from-Waste ("EfW") business further enhances Covanta's position as the world leader in the development, ownership and operation of EfW facilities. The businesses acquired from Veolia consist of the operating contracts associated with six EfW businesses, ownership and operation of a seventh EfW facility located in Montgomery County, PA and one transfer station, also located in Pennsylvania. Each of the businesses acquired includes a long-term operating contract with the respective municipal client. As previously reported, the aggregate purchase price for the businesses acquired was $450 million and the acquisition is expected to contribute approximately $60 million of operating cash flow during 2010. Covanta's portfolio now includes operation of 45 EfW facilities that annually convert approximately 20 million tons of municipal solid waste annually into renewable energy.

    "We're delighted to have Miami-Dade as a new client and we welcome the facility's employees into the Covanta family. Integration of the earlier stage of this acquisition is progressing smoothly and we're eager to partner with our Miami-Dade client to implement a work plan to enhance the performance of this large facility," said Anthony Orlando, President and CEO of Covanta. "This transaction is a perfect illustration of one facet of our growth strategy: making acquisitions that leverage our operating expertise and industry-leading Energy-from-Waste portfolio to create value for clients and shareholders."

    Commenting on the closing of the transaction, Kathleen Woods-Richardson, Director of Miami-Dade County Department of Solid Waste Management stated that, "Covanta operates four Energy-from-Waste facilities in other Florida counties and has a reputation for operational excellence and cooperative working relationships with municipalities. We are delighted to welcome Covanta to Miami-Dade County and look forward to working together for many years to come."

    Advisors to CovantaLa Compagnie Financiere Edmond de Rothschild (Paris) and Latham & Watkins LLP (New York) served as financial and legal advisors, respectively, to Covanta in connection with this transaction.

    About CovantaCovanta Holding Corporation , is an internationally recognized owner and operator of large-scale Energy-from-Waste and renewable energy projects and a recipient of the Energy Innovator Award from the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy. Covanta's 45 Energy-from-Waste facilities provide communities with an environmentally sound solution to their solid waste disposal needs by using that municipal solid waste to generate clean, renewable energy. Annually, Covanta's modern Energy-from-Waste facilities safely and securely convert approximately 20 million tons of waste into more than 9 million megawatt hours of clean renewable electricity and create 10 billion pounds of steam that are sold to a variety of industries. For more information, visit http://www.covantaholding.com/. Cautionary Note Regarding Forward-Looking StatementsCertain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission ("SEC"), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Covanta and its subsidiaries, or general industry or broader economic performance in global markets in which Covanta operates or competes, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words "plan," "believe," "expect," "anticipate," "intend," "estimate," "project," "may," "will," "would," "could," "should," "seeks," or "scheduled to," or other similar words, or the negative of these terms or other variations of these terms or comparable language, or by discussion of strategy or intentions. These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws. Covanta cautions investors that any forward-looking statements made by Covanta are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements with respect to Covanta, include, but are not limited to, the risk that Covanta may not successfully close its announced or planned acquisitions or projects in development and those factors, risks and uncertainties that are described in periodic securities filings by Covanta with the SEC. Although Covanta believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any forward-looking statements. Covanta's future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained in this press release are made only as of the date hereof and Covanta does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

    Covanta Holding Corporation

    CONTACT: Marisa F. Jacobs, Esq., Vice President, Investor Relations and
    Corporate Communications, +1-973-882-4196, or Vera Carley, Director, Media
    Relations and Corporate Communications, +1-973-882-2439, both of Covanta
    Holding Corporation

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




    Starwood Property Trust, Inc. Announces Tax Reporting Information for 2009 Common Share Distributions

    GREENWICH, Conn., Feb. 1 /PRNewswire-FirstCall/ -- Starwood Property Trust, Inc. , a real estate investment trust focused primarily on originating, investing in, and financing commercial mortgage loans and other commercial real estate-related debt investments, today announced the tax reporting information (Federal 1099) for the year 2009 distributions on its common shares.

    The income tax treatment for the 2009 distributions for Starwood Property Trust Common Stock CUSIP# 85571B105 traded on the NYSE under ticker symbol "STWD" is as follows:

    Distribution Type --------------------- Ordinary Declaration Record Payable Distributions Taxable Return of Dates Dates Dates per Share Dividend Capital ---------------------------------------------------------------------- 9/18/2009 10/31/2009 1/29/2010 $0.01 $0.00 $0.01 9/18/2009 12/30/2009 1/29/2010 $0.10 $0.00 $0.10 ------------------------------- TOTALS $0.11 $0.00 $0.11 ------------------------------- PERCENT 100.00% 0.00% 100.00% ===============================

    The dividends classified above are ordinary income and do not represent "qualified dividend income". The Company did not incur any foreign taxes. This information represents final income allocations.

    The Company encourages shareholders to consult with their own tax advisors with respect to the federal, state and local income tax effects of these distributions.

    Forward Looking Statements

    Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although Starwood Property Trust, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include completion of pending investments, continued ability to acquire additional investments, competition within the finance and real estate industries, economic conditions, and other risks detailed from time to time in the Company's reports filed with the SEC.

    About Starwood Property Trust, Inc.

    Starwood Property Trust, Inc. is a newly formed company that is focused primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial real estate-related debt investments. Starwood Property Trust, Inc. is externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group, and intends to elect to be taxed as a real estate investment trust for U.S. federal income tax purposes.

    Starwood Property Trust, Inc.

    CONTACT: Barbara Anderson, Investor Relations of Starwood Property
    Trust, Inc., +1-203-422-8100




    Hologic Announces First Quarter Fiscal 2010 Operating ResultsStrong Performance - Revenues and Earnings Exceed Guidance

    BEDFORD, Mass., Feb. 1 /PRNewswire-FirstCall/ -- Hologic, Inc. (Hologic or the Company) , a leading developer, manufacturer and supplier of premium diagnostics products, medical imaging systems and surgical products dedicated to serving the healthcare needs of women, today announced its results for the first quarter ended December 26, 2009.

    Highlights of the quarter include: -- Revenues of $412.4 million. -- First quarter 2010 net income was $26.1 million, or $0.10 per diluted share, calculated in accordance with U.S. generally accepted accounting principles (GAAP). -- First quarter 2010 non-GAAP adjusted net income was $74.6 million, or $0.29 per diluted share, and adjusted EBITDA (non-GAAP adjusted earnings before interest, taxes, depreciation and amortization) was $147.2 million. A reconciliation of GAAP to non-GAAP results is included as an attachment to this press release. -- Term loan to fund the Third Wave Technologies acquisition reduced from an initial balance of $540 million at July 24, 2008 to $119.5 million as of December 26, 2009 and further reduced to $97.0 million as of today. -- In January 2010, received $70 million from KV Pharmaceutical Company (KV) in connection with an amendment of the original asset purchase agreement relating to the sale of our Gestiva assets.

    First quarter fiscal 2010 revenues totaled $412.4 million, a decrease of 3.9% when compared to revenues of $429.2 million in the first quarter of fiscal 2009. The decrease was primarily attributable to the decline in sales of Selenia full field digital mammography systems, as the Company did not realize the full impact of the declining economic environment and the resulting delays and reductions in hospital capital spending until the second quarter of fiscal 2009. Also contributing to this decline was the decline in Skeletal Health product revenues of $5.9 million as compared to the first quarter of fiscal 2009. These declines were partially offset by: (i) growth in Diagnostics and GYN Surgical product sales of $9.4 million, or 4.7%, as compared to the first quarter of fiscal 2009 and (ii) an $11.9 million, or 24.2%, increase in service and other revenues primarily related to the Company's increased installed base of Selenia full field digital mammography systems.

    For the first quarter of fiscal 2010, Hologic reported net income of $26.1 million, or $0.10 per diluted share, compared with net income of $38.2 million, or $0.15 per diluted share, in the first quarter of fiscal 2009. Included in the first quarter of fiscal 2010 and 2009 results were: (i) a charge of $57.1 million and $50.4 million, respectively, attributable to the amortization of intangible assets and (ii) a non-cash interest expense charge of $17.8 million and $16.5 million, respectively, related to the Company's adoption of a new accounting standard (Accounting Standard Codification 470-20, "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)") for our Convertible Notes.

    The Company's non-GAAP adjusted net income for the first quarter of fiscal 2010 decreased 7.7% to $74.6 million compared to $80.7 million in the first quarter of fiscal 2009. The Company's fiscal 2010 and 2009 first quarter non-GAAP adjusted net income primarily excludes the amortization of intangible assets and the non-cash interest expense relating to the adoption of the new accounting guidance, as discussed above.

    Non-GAAP adjusted net income, non-GAAP adjusted earnings per diluted share (EPS), and adjusted EBITDA are non-GAAP financial measures. The Company's definitions of these non-GAAP financial measures, and the reconciliations of these measures to the Company's comparable GAAP financial measures for the periods presented, are set forth in the supplemental information attached to this press release. When analyzing the Company's operating performance, investors should not consider these non-GAAP measures as a substitute for the comparable financial measures prepared in accordance with GAAP.

    As of December 26, 2009, total backlog for all products was $325.6 million.

    "We are pleased with our performance for the first quarter of fiscal 2010," said Rob Cascella, President and Chief Executive Officer. "Our first quarter order rate for digital mammography signaled early signs of stabilization. I believe uncertainty still exists in the capital equipment market, but I am encouraged by both domestic and international order activity. In addition, we enjoyed solid quarter-over-quarter revenue growth in our Diagnostics and GYN Surgical segments. While we remain cautious in our outlook for the state of our markets, we are focused this year on driving growth in our core businesses through increased customer demand, market awareness, new product launches and international expansion."

    First quarter revenue overview by segment: -- Breast Health revenues, which include the Company's mammography, Computer-Aided Detection (CAD), breast biopsy, MammoSite and AEG products, totaled $179.1 million for the first quarter of fiscal 2010 compared to $199.1 million for the same period in fiscal 2009. This decrease was primarily due to fewer Selenia systems sold during the first quarter of fiscal 2010 as compared to the first quarter of fiscal 2009, as well as product mix and configuration differences, which combined, resulted in a reduction in Selenia product revenues. In addition, we had $7.5 million less in revenues in the current quarter as compared to first quarter of fiscal 2009 as a result of our phasing out the supply of digital detectors to an OEM and closing the AEG organic photoconductor drum coatings manufacturing operations in Shanghai. This decrease in revenues was partially offset by an increase in service revenues related to our increased installed base of Selenia full field digital mammography systems and, to a lesser extent, an increase in revenues from our breast biopsy products. -- Diagnostics revenues, which include the Company's ThinPrep products, Rapid Fetal Fibronectin test, Cervista tests and other Third Wave products, totaled $140.4 million for the first quarter of fiscal 2010 as compared to $134.6 million for the first quarter of fiscal 2009. This increase was primarily due to an increase in revenues from our Cervista tests, increased revenues from ThinPrep pap tests sold internationally and continued growth in imager adoption. These increases were partially offset by the elimination of $0.8 million of revenues we generated in the first quarter of fiscal 2009 from molecular tests we sold as analyte specific reagents (ASRs) that we no longer market. -- GYN Surgical revenues, which include the Company's NovaSure endometrial ablation system and Adiana permanent contraception system, totaled $71.4 million for the first quarter of fiscal 2010 compared to $68.0 million for the first quarter of fiscal 2009. This increase was primarily due to an increase in the number of NovaSure systems sold internationally, as well as limited sales of Adiana devices. -- Skeletal Health revenues, which include the Company's osteoporosis assessment and mini C-arm product lines, totaled $21.5 million for the first quarter of fiscal 2010 compared to $27.5 million for the first quarter of fiscal 2009. This decrease was primarily the result of decreased system sales of the osteoporosis assessment product line and, to a lesser extent, the mini C-arm product line, both of which continue to be impacted by the economic environment and ongoing effects of the reimbursement reductions for osteoporosis assessment exams in the U.S. Amendment of Agreement with KV Pharmaceutical Company:

    On January 8, 2010, the Company entered into an amendment (the Amendment) to the existing asset purchase agreement with KV Pharmaceutical Company relating to the Company's pending sale of substantially all of its assets relating to its Gestiva pharmaceutical. The Gestiva product is a progesterone-based drug treatment for the prevention of pre-term birth in women who are pregnant with a single baby and have spontaneously delivered a single baby pre-term in the past. Upon the execution of this Amendment, KV paid Hologic $70 million in cash. Subject to the terms and conditions of the Amendment, the Gestiva assets will be transferred to KV upon Hologic obtaining FDA approval of the Gestiva product. The Amendment obligates KV to pay an additional $25 million upon FDA approval of the product and an additional $95 million over a nine-month period beginning one year after FDA approval.

    Financial Guidance:

    The Company's guidance for fiscal 2010 reflects its current core products and does not reflect any future revenue or earnings from any product currently before the FDA awaiting approval or clearance.

    Second Quarter Fiscal 2010 (Quarter ending March 27, 2010): -- The Company expects second quarter fiscal 2010 revenues to be approximately $410 million to $415 million, comparable with the first quarter of fiscal 2010 and up from $402 million for the second quarter of fiscal 2009.

    The three phased-out product lines discussed above contributed $6.5 million in revenues in the second quarter of fiscal 2009.

    -- The Company expects EPS to be approximately $0.10 to $0.11 and non-GAAP adjusted EPS to be approximately $0.29. Fiscal 2010 (Year ending September 25, 2010): -- The Company has increased it guidance range and now expects fiscal 2010 revenues to be approximately $1.640 billion to $1.665 billion, driven primarily by the higher than expected first quarter results, especially in the Breast Health segment, and an expected stable environment for the remainder of the year.

    The three phased-out product lines contributed $21.0 million in revenues in fiscal 2009.

    -- The Company expects EPS to be approximately $0.42 to $0.46 and non-GAAP adjusted EPS to be approximately $1.16 to $1.20.

    A reconciliation of the Company's GAAP to non-GAAP fiscal 2010 projections is included as an attachment to this press release.

    Hologic may incur expenses or charges or realize income or gains in fiscal 2010 that could cause actual results to vary from the guidance above. In addition, the Company is continuing to monitor the effects of the U.S. and general worldwide economic and regulatory conditions and related uncertainties, including proposed healthcare reform and associated tax proposals, which, along with other uncertainties facing our business, could adversely affect anticipated results.

    Conference Call and Webcast:

    Hologic's management will host a conference call on Monday, February 1, 2010, at 5:00 p.m. (EST) to discuss first quarter fiscal 2010 operating results. Interested participants may listen to the call by dialing 877-856-1965 or 719-325-4894 for international callers and referencing access code 4933598 approximately 15 minutes prior to the call. For those unable to participate in the live broadcast, a replay will be available one hour after the call ends through Friday, February 19, 2010, at 888-203-1112 or 719-457-0820 for international callers, access code 4933598. The Company will also provide a live webcast and archive of the call on the investor relations page of the Company's website at http://www.hologic.com/investor. A replay of the call will also be archived on this same website. A PowerPoint presentation related to the conference call will be posted after the close of the market on Monday, February 1, 2010 on the investor relations page of the Company's website.

    About Hologic, Inc.:

    Hologic, Inc. is a leading developer, manufacturer and supplier of premium diagnostics products, medical imaging systems and surgical products dedicated to serving the healthcare needs of women. Hologic's core business units are focused on breast health, diagnostics, GYN surgical, and skeletal health. Hologic provides a comprehensive suite of technologies with products for mammography and breast biopsy, radiation treatment for early-stage breast cancer, cervical cancer screening, treatment for menorrhagia, permanent contraception, osteoporosis assessment, preterm birth risk assessment, mini C-arm for extremity imaging and molecular diagnostic products including HPV and reagents for a variety of DNA and RNA analysis applications.

    Hologic, Adiana, AEG, Cervista, Gestiva, MammoSite, NovaSure, Rapid fFN, Selenia, ThinPrep and Third Wave and associated logos are trademarks and/or registered trademarks of Hologic, Inc. and/or its subsidiaries in the United States and/or other countries.

    Forward-Looking Statement Disclaimer:

    This News Release contains forward-looking information that involves risks and uncertainties, including statements regarding the Company's plans, objectives, expectations and intentions. Such statements include, without limitation, statements regarding: the expected continued market challenges; the Company's backlog and any implication that the Company's backlog may be indicative of future sales; the Company's growth objectives and focus; market trends; and the Company's outlook and financial and other guidance. These forward-looking statements are based upon assumptions made by the Company as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated.

    The Company's backlog consists of purchase orders for which delivery is scheduled within the next twelve months, as specified by the customer. In certain circumstances, orders included in backlog may be canceled or rescheduled by customers without significant penalty. Therefore, backlog as of any particular date should not be relied upon as indicative of the Company's revenues for any future period.

    Other risks and uncertainties that could adversely affect the Company's business and prospects, and otherwise cause actual results to differ materially from those anticipated, include without limitation: U.S. and general worldwide economic conditions and related uncertainties; the Company's reliance on third-party reimbursement policies to support the sales and market acceptance of its products, including the possible adverse impact of government regulation and changes in the availability and amount of reimbursement; uncertainties regarding proposed healthcare reform and associated tax proposals; changes in guidelines, recommendations and studies published by various organizations that could affect the use of the Company's products; the Company's ability to integrate its acquisitions and business combinations effectively; uncertainties inherent in the development of new products and the enhancement of existing products, including FDA approval and/or clearance and other regulatory risks, technical risks, cost overruns and delays; the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated; manufacturing risks, including the Company's reliance on a single or limited source of supply for key components, and the need to comply with especially high standards for the manufacture of many of its products; the Company's ability to predict accurately the demand for its products, and products under development, and to develop strategies to address its markets successfully; the early stage of market development for certain of the Company's products; the risk of adverse events and product liability claims; risks related to the use and protection of intellectual property; expenses and uncertainties relating to litigation; technical innovations that could render products marketed or under development by the Company obsolete; competition; the risks of conducting business internationally, including the effect of exchange rate fluctuations on those operations; financing risks, including the Company's obligation to meet financial covenants and payment obligations under the Company's financing arrangements and leases; and the Company's ability to attract and retain qualified personnel.

    The risks and uncertainties included above are not exhaustive. Other factors that could adversely affect the Company's business and prospects are described in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.

    Contact: Deborah R. Gordon Vice President, Investor Relations Hologic, Inc. (781) 999-7716 HOLOGIC, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands) ASSETS December 26, September 26, 2009 2009 (1) ----------- ------------ CURRENT ASSETS: Cash and cash equivalents $345,042 $293,186 Restricted cash 910 916 Accounts receivable, net 263,226 263,231 Inventories 194,337 182,780 Deferred income tax assets 48,970 52,165 Prepaid expenses and other current assets 26,357 29,238 ----------- ---------- Total current assets 878,842 821,516 ----------- ---------- Property and equipment, net 263,679 271,628 Intangible assets, net 2,364,103 2,422,564 Goodwill 2,112,714 2,108,963 Other assets 62,886 59,555 ----------- ---------- $5,682,224 $5,684,226 =========== ========== LIABILITIES AND STOCKHOLDERS' EQUITY December 26, September 26, 2009 2009 (1) ----------- ------------ CURRENT LIABILITIES: Current portion of long-term debt $31,226 $38,373 Accounts payable 48,818 46,589 Accrued expenses 141,934 137,284 Deferred revenue 106,754 97,544 Deferred gain 9,500 9,500 ----------- ---------- Total current liabilities 338,232 329,290 ----------- ---------- Long-term debt, net of current portion 90,638 139,955 Convertible debt (principal of $1,725,000) 1,391,733 1,373,923 Deferred income tax liabilities 1,033,718 1,045,183 Deferred service obligations- long term 11,390 11,364 Other long-term liabilities 58,946 58,534 ----------- ---------- Total long-term liabilities 2,586,425 2,628,959 ----------- ---------- STOCKHOLDERS' EQUITY: Common stock 2,585 2,579 Capital in excess of par value 5,187,851 5,182,060 Accumulated deficit (2,438,162) (2,464,257) Accumulated other comprehensive income 6,811 7,028 Treasury stock, at cost (1,518) (1,433) ----------- ---------- Total stockholders' equity 2,757,567 2,725,977 ----------- ---------- $5,682,224 $5,684,226 ========== ========== (1) Adjusted for the retrospective adoption of a new standard under GAAP that changed the accounting for convertible debt instruments with cash settlement features. HOLOGIC, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share data) Three Months Ended December 26, December 27, 2009 2008 (2) ----------- ------------ REVENUES $412,448 $429,233 COSTS AND EXPENSES (1): Cost of revenues 152,483 161,528 Cost of revenues - amortization of intangible assets 43,520 37,746 Research and development 23,198 23,793 Selling and marketing 64,597 65,002 General and administrative 42,615 34,805 Amortization of intangible assets 13,579 12,638 Restructuring charge 487 - ------- ------- 340,479 335,512 ------- ------- Income from operations 71,969 93,721 Interest income 185 446 Interest and other expense, net (31,061) (37,423) ------- ------- Income before provision for income taxes 41,093 56,744 Provision for income taxes 14,998 18,586 ------ ------ Net income $26,095 $38,158 ======= ======= Net income per share: Basic $0.10 $0.15 ======= ======= Diluted $0.10 $0.15 ======= ======= Weighted average number of shares outstanding: Basic 258,024 256,212 ======= ======= Diluted 260,804 258,433 ======= ======= (1) Stock-based compensation included in costs and expenses during the three months ended December 26, 2009 was $1,029 for cost of revenues, $967 for research and development, $1,387 for selling and marketing and $4,738 for general and administrative. Stock-based compensation included in costs and expenses during the three months ended December 27, 2008 was $644 for cost of revenues, $1,325 for research and development, $1,571 for selling and marketing and $3,930 for general and administrative. (2) Adjusted for the retrospective adoption of new a standard under GAAP that changed the accounting for convertible debt instruments with cash settlement features. HOLOGIC, INC. RECONCILIATION OF GAAP EPS AND NET INCOME TO NON-GAAP ADJUSTED EPS, NET INCOME AND EBITDA (Unaudited) (In thousands, except earnings per share) Three Months Three Months Ended Ended December 26, December 27, 2009 2008 (1) ----- -------- EARNINGS PER SHARE GAAP earnings per share- Diluted $0.10 $0.15 (1) Adjustments to net income (as detailed below) 0.19 0.16 -------- -------- Non-GAAP adjusted earnings per share- Diluted $0.29 (2) $0.31 (2) ======== ======== NET INCOME GAAP net income $26,095 $38,158 (1) Adjustments: Fair value write-up of acquired Third Wave inventory sold in 2009 - 584 Amortization of intangible assets 57,099 50,384 Non-cash interest expense relating to recently-issued accounting guidance for convertible debt 17,810 16,509 Operating charges relating to the closure of the Company's organic photoconductor drum coatings manufacturing operations in Shanghai 487 - Income tax effect primarily related to reconciling items (26,938) (3) (24,891) (4) -------- -------- Non-GAAP adjusted net income $74,553 $80,744 ======== ======== EBITDA Non-GAAP adjusted net income $74,553 $80,744 Interest expense, not adjusted above 13,809 17,387 Provision for income taxes 41,936 43,477 Depreciation and amortization, not adjusted above 16,892 16,068 -------- -------- Adjusted EBITDA $147,190 $157,676 ======== ======== EXPLANATORY NOTES: ------------------ (1) Adjusted for the retrospective adoption of a new standard under GAAP that changed the accounting for convertible debt instruments with cash settlement features. (2) Non-GAAP adjusted earnings per share was calculated based on 260,804 and 258,433 weighted average diluted shares outstanding for the three months ended December 26, 2009 and December 27, 2008, respectively. (3) To reflect an estimated annual effective tax rate of 36.0% on a non-GAAP basis. (4) To reflect an estimated annual effective tax rate of 35.0% on a non-GAAP basis. Non-GAAP Financial Guidance:

    This press release also includes estimates of future non-GAAP adjusted earnings and earnings per share. A reconciliation of these amounts to expected GAAP results is presented below:

    Diluted Three Months Ended Earnings March 27, 2010 Shares per Share -------------- ------ --------- (In thousands, except per share amounts) Projected GAAP Net Income $26,500 - $28,500 261,000 $0.10 - $0.11 Adjustments: Cost of revenues - amortization of intangible assets 44,000 (1) Amortization of intangible assets 13,000 (1) Non-cash interest expense relating to recently-issued accounting guidance for convertible debt 18,000 (2) Income tax effect of reconciling items (27,000) (3) ------- Projected Non- GAAP Net Income $74,500 - $76,500 261,000 (4) $0.29 ================= ======= ===== Diluted Twelve Months Ended Earnings September 25, 2010 Shares per Share ------------------ ------ --------- (In thousands, except per share amounts) Projected GAAP Net Income $110,000 - $120,000 261,000 $0.42 -$0.46 Adjustments: Cost of revenues - amortization of intangible assets 174,000 (1) Amortization of intangible assets 54,000 (1) Non-cash interest expense relating to recently-issued accounting guidance for convertible debt 73,000 (2) Income tax effect of reconciling items (108,000) (3) -------- Projected Non-GAAP Net Income $303,000 - $313,000 261,000 (4) $1.16 - $1.20 =================== ======= ============= Explanatory Notes (in thousands):

    (1) To exclude the anticipated on-going, non-cash amortization of the intangible assets.

    (2) To exclude the anticipated additional non-cash interest expense relating to the recently-issued accounting guidance for convertible debt.

    (3) To reflect an estimated annual effective tax rate of 36% for the second quarter and full year of fiscal 2010 on a non-GAAP basis.

    (4) To reflect estimated diluted weighted average shares outstanding of 261,000 for the second quarter and full year of fiscal 2010.

    Use of Non-GAAP Financial Measures:

    The Company has presented the following non-GAAP financial measures in this press release: adjusted net income; adjusted EPS; and adjusted EBITDA. The Company defines its non-GAAP adjusted net income to exclude the non-cash amortization of intangible assets and impairment of goodwill and intangible assets, other acquisition-related charges, such as charges associated with the write-off of acquired in-process research and development and the write-up of acquired inventory to fair value, non-cash charges resulting from changes in GAAP, and other one-time, nonrecurring, unusual or unanticipated charges, expenses or gains. As set forth in the applicable reconciliation tables above, non-GAAP adjusted net income and non-GAAP adjusted EPS for the periods presented exclude the following items from GAAP net income and EPS: (i) non-cash expenses associated with the Company's recent acquisitions, including amortization of intangible assets; (ii) non-cash interest expense resulting from the Company's adoption of a new standard under GAAP that changed the accounting for convertible debt instruments with cash settlement features; (iii) the increase in cost of revenues resulting from the write-up of acquired inventory sold during the applicable period; and (iv) restructuring charges. The Company's non-GAAP adjusted EBITDA excludes from its GAAP net income: (i) the items excluded in its calculation of adjusted net income; (ii) interest expense, net; (iii) provision for income taxes; and (iv) depreciation and amortization expense not otherwise excluded in calculating its non-GAAP adjusted net income.

    The Company believes the use of non-GAAP adjusted net income and non-GAAP EPS are useful to investors in comparing the results of operations in fiscal 2010 to the comparable period in fiscal 2009 by eliminating certain of the more significant effects of the acquisitions that took place and non-cash charges resulting from changes in GAAP. These measures also reflect how the Company manages the business internally and sets operational goals, and forms the basis of certain of its management incentive programs. In addition to the adjustments set forth in the calculation of the Company's non-GAAP adjusted net income, its non-GAAP adjusted EBITDA eliminates the effects of financing, income taxes and the accounting effects of capital spending. As with the items eliminated in its calculation of non-GAAP adjusted net income, these items may vary for different companies for reasons unrelated to the overall operating performance of a company's business. The items excluded from the Company's calculation of its non-GAAP adjusted EBITDA presented herein are also excluded in the calculation of its non-GAAP adjusted EBITDA under its senior secured borrowing arrangements and used by the Company and its lenders in determining its compliance with its financial covenants under those arrangements. When analyzing the Company's operating performance, investors should not consider these non-GAAP financial measures as a substitute for net income or EPS prepared in accordance with GAAP.

    Hologic, Inc.

    CONTACT: Deborah R. Gordon, Vice President, Investor Relations, Hologic,
    Inc., +1-781-999-7716

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




    Oclaro Achieves Positive Cash Flow in Second Quarter Fiscal 2010-- Revenues Up 10% Sequentially

    SAN JOSE, Calif., Feb. 1 /PRNewswire-FirstCall/ -- Oclaro, Inc. , a leading provider of optical components and modules for communications, industrial and consumer applications, today announced the financial results for its second quarter of fiscal 2010, which ended January 2, 2010.

    "Generating positive cash flow, on top of ten percent sequential revenue growth, in our second full quarter since the creation of Oclaro is a significant accomplishment. Let me thank the employees for their contribution during the downturn and the extra effort to execute on the integration," said Alain Couder, President and CEO of Oclaro, Inc. "From a strategic perspective we took steps to acquire Xtellus, Inc. and secure the WSS technology critical to our product portfolio."

    Highlights For Second Quarter Fiscal 2010: -- GAAP revenues were $93.6 million for the second quarter of fiscal 2010, compared to $85.1 million in the first quarter of fiscal 2010. -- GAAP gross margin was 27% for the second quarter of fiscal 2010, compared to 26% in the first quarter of fiscal 2010. -- Non-GAAP operating income was $1.5 million for the second quarter of fiscal 2010, compared to non-GAAP operating income of $1.5 million in the first quarter of fiscal 2010. -- Adjusted EBITDA was positive $4.3 million for the second quarter of fiscal 2010, compared to positive $4.1 million in the first quarter of fiscal 2010. -- GAAP net loss for the second quarter of fiscal 2010 was $2.5 million, compared to GAAP net income of $4.0 million in the first quarter of fiscal 2010. The change is primarily due to the timing of one-time gains and costs associated with the purchase accounting for recent acquisition activities. -- Non-GAAP net income for the second quarter of fiscal 2010 was $2.1 million, compared to break-even in the first quarter of fiscal 2010. -- Cash, cash equivalents, restricted cash and short-term investments increased to $56.0 million as of January 2, 2010 compared to $52.5 million at the end of the prior quarter. -- In December 2009, Oclaro acquired Xtellus, Inc. and its complete line of WSS (Wavelength Select Switching) products and technology -- Oclaro was honored with the designation as Excellent Core Partner of Huawei Technologies Co. and the Distinguished Partner Award from Futjitsu Limited, Japan. Third Quarter Fiscal 2010 Outlook

    "We expect to grow our revenue and are driving to increase our gross margins in what is traditionally a seasonally weaker March quarter," said Alain Couder. "Improving our gross margins in the quarter when our industry experiences the bulk of its annual pricing re-negotiations would demonstrate our ability to continually drive costs out of our products and leverage our global skill and infrastructure."

    The results of Oclaro, Inc. for the third quarter of fiscal 2010, which ends April 3, 2010, are expected to be:

    -- Revenues in the range of $97 million to $102 million, including approximately $2.0 million to $3.0 million of Xtellus related revenues. -- Non-GAAP gross margin in the range of 26% to 29%. -- Adjusted EBITDA in the range of $4.0 million to $7.5 million.

    The third quarter of fiscal 2010 will include 13 weeks of operations, compared to 14 weeks for the second quarter of fiscal 2010, due to the Company's fiscal year calendar.

    The foregoing guidance is based on current expectations. These statements are forward looking, and actual results may differ materially. Please see the Safe Harbor Statement in this earnings release for a description of certain important risk factors that could cause actual results to differ, and refer to Oclaro, Inc.'s most recent annual and quarterly reports on file with the Securities and Exchange Commission (SEC) for a more complete description of the risks. Furthermore, our outlook excludes items that may be required by GAAP, including, but not limited to, restructuring and related costs, acquisition or disposal related costs, expenses or income from certain legal actions, settlements and related costs outside our normal course of business, impairments of other long-lived assets, depreciation and amortization, extraordinary items, as well as the expensing of stock options and restricted stock grants.

    Conference Call

    Oclaro will hold a conference call to discuss financial results for the second quarter of fiscal 2010 today at 1:30 p.m. PT/4:30 p.m. ET. To listen to the live conference call, please dial (480) 629-9856. A replay of the conference call will be available through February 8, 2010. To access the replay, dial (303) 590-3030. The conference code for the replay is 4203741. A webcast of this call will be available in the investors section of Oclaro's website at http://www.oclaro.com/.

    About Oclaro

    Oclaro, Inc., with headquarters in San Jose, California, is a tier 1 provider of high performance optical components, modules and subsystems to the telecommunications market, and is one of the largest providers to metro and long haul network applications. The Company, formed on April, 27, 2009, following the combination of Bookham, Inc. and Avanex Corporation, leverages proprietary core technologies and vertically integrated product development to provide its customers with cost-effective and innovative optical devices, modules and subsystems. The Company serves a broad customer base, combining in-house and outsourced manufacturing to maximize flexibility and drive improved gross margin. Its photonic technologies also serve selected high growth markets, including industrial, defense, life sciences, medical and scientific, with diversification providing both significant revenue streams and strategic technological advantage. Oclaro is a global company, with cutting edge chip fabrication facilities in the UK, Switzerland and Italy, and in Tucson, Arizona during the transition of related activities to Europe, and manufacturing sites in the US, Thailand and China.

    Oclaro, Xtellus and all other Oclaro product names and slogans are trademarks or registered trademarks of Oclaro, Inc. in the USA or other countries. Spectra-Physics is a registered trademark of Newport Corporation.

    Safe Harbor Statement

    This press release and the statements made by management contain statements about management's future expectations, plans or prospects of Oclaro, Inc. and its business, and the assumptions underlying these statements, constitute forward-looking statements for the purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements concerning (i) financial targets, including financial targets related to gross margin; research and development expenses; sales, general and administrative expenses and non-GAAP operating margin, (ii) financial guidance for the fiscal quarter ending April 3, 2010, including guidance regarding revenue, non-GAAP gross margin and adjusted EBITDA, (iii) the impact of the acquisitions of Avanex Corporation and Xtellus Inc. and the Spectra-Physics asset swap on the combined entity's gross margin, (iv) sources for improvement of gross margin and operating expenses, including supply chain synergies, optimizing mix of product offerings, transition to higher margin product offerings, benefits of combined R&D and sales organizations and single public company costs, including statements regarding the expectation of further synergies, (v) opportunities to grow in adjacent markets and (vi) statements containing the words "target," "believe," "plan," "anticipate," "expect," "estimate," "will," "should," "ongoing," and similar expressions. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including the impact of continued uncertainty in world financial markets and the resulting reduction in demand for our products, the future performance of Oclaro, Inc. following the closing of the mergers with Avanex Corporation and Xtellus Inc. and the Spectra-Physics asset swap, the inability to realize the expected benefits and synergies as a result of the of the mergers with Avanex Corporation and Xtellus Inc. and the Spectra-Physics asset swap, increased costs related to downsizing and compliance with regulatory compliance in connection with such downsizing, the lack of availability of credit or opportunity for equity based financing, as well as the factors described in Oclaro's most recent registration statement on Form S-4, most recent annual report on Form 10-K, most recent quarterly reports on Form 10-Q and other documents we periodically file with the SEC. The forward-looking statements included in this announcement represent Oclaro's view as of the date of this presentation. Oclaro anticipates that subsequent events and developments may cause Oclaro's views and expectations to change. However, Oclaro specifically disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this release.

    Non-GAAP Financial Measures

    The Company provides certain supplemental non-GAAP financial measures to its investors as a complement to the most comparable GAAP measures. The GAAP measure most directly comparable to non-GAAP revenues is revenues. The GAAP measure most directly comparable to non-GAAP gross margin rate is gross margin rate. The GAAP measure most directly comparable to non-GAAP operating income/loss is operating income/loss. The GAAP measure most directly comparable to non-GAAP net income/loss is net income/loss. The GAAP measure most directly comparable to Adjusted EBITDA is net income/loss. An explanation and reconciliation of each of these non-GAAP financial measures to GAAP information is set forth below.

    The Company believes that providing these non-GAAP measures to its investors, in addition to corresponding income statement measures, provides investors the benefit of viewing the Company's performance using the same financial metrics that the management team uses in making many key decisions and understanding how the Company's "core operating performance" and its results of operations may look in the future. The Company believes that providing this information allows the Company's investors greater transparency and a better understanding of the Company's core financial performance. The Company believes its "core operating performance" represents the Company's on-going performance in the ordinary course of its operations. Management excludes from "core operating performance" those items, such as impairment charges, income taxes, restructuring and severance programs and costs relating to specific major projects which are non-recurring, expenses or income from certain legal actions, settlements and related costs, as well as non-cash compensation related to stock and options. Management does not believe these items, including recurring non-cash items, are reflective of the Company's ongoing operations and accordingly excludes those items from non-GAAP gross margin rate, non-GAAP operating loss and non-GAAP net income/loss. Additionally, each non-GAAP measure has historically been presented by the Company as a complement to its most comparable GAAP measure, and the Company believes that the continuation of this practice increases the consistency and comparability of the Company's earnings releases. The non-GAAP adjustments, and the basis for excluding them, are discussed further below.

    Non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles in the United States of America. Non-GAAP measures should not be considered in isolation from or as a substitute for financial information presented in accordance with generally accepted accounting principles, and may be different from non-GAAP measures used by other companies.

    Non-GAAP Revenues

    Non-GAAP revenues include the revenues of New Focus, which is treated as a discontinued operation in our GAAP financial statements. Management uses this non-GAAP measure to evaluate its performance relative to its previously established financial targets. Specifically, the Company previously reported New Focus in its revenues. The Company believes providing non-GAAP revenues to its investors, in addition to corresponding income statement measures, allows investors to evaluate the Company's results of operations compared to its previous financial results.

    Non-GAAP Gross Margin Rate

    Non-GAAP gross margin rate is calculated as gross margin rate as determined in accordance with GAAP (gross profit as a percentage of revenues) excluding non-cash compensation related to stock and options specifically identified in the non-GAAP reconciliation schedules set forth below. The Company evaluates its performance using non-GAAP gross margin rate to assess the Company's historical and prospective operating financial performance, as well as its operating performance relative to its competitors. Specifically, management uses this non-GAAP measure to further understand the Company's "core operating performance." The Company believes its "core operating performance" represents the Company's on-going performance in the ordinary course of its operations. Accordingly, the Company excludes from "core operating performance" those items such as non-cash compensation related to stock and options; and certain other significant non-recurring one-time charges and credits specifically identified. Management does not believe these items, including recurring non-cash items, are reflective of the Company's ongoing operations and accordingly excludes those items from non-GAAP gross margin rate.

    Non-GAAP Operating Income/Loss

    Non-GAAP operating income/loss is calculated as operating loss as determined in accordance with GAAP excluding the impact of amortization of intangible assets, restructuring and severance costs, non-cash compensation related to stock and options granted to employees and directors, and certain other one-time charges and credits specifically identified in the non-GAAP reconciliation schedules set forth below. The Company evaluates its performance using, among other things, non-GAAP operating income/loss in evaluating the Company's historical and prospective operating financial performance, as well as its operating performance relative to its competitors. Specifically, management uses this non-GAAP measure to further understand the Company's "core operating performance." The Company believes its "core operating performance" represents the Company's on-going performance in the ordinary course of its operations. Accordingly, the Company excludes from "core operating performance" those items such as restructuring and severance programs and costs relating to specific major projects which are non-recurring, expenses or income from certain legal actions, settlements and related costs outside our normal course of business, impairment charges, as well as non-cash compensation related to stock and options. Management does not believe these items are reflective of the Company's ongoing operations and accordingly excludes those items from non-GAAP operating loss.

    Non-GAAP Net Income/Loss

    Non-GAAP net income/loss is calculated as net income/loss excluding the impact of restructuring and severance costs, non-cash compensation related to stock and options granted to employees and directors, income taxes and certain other one-time charges and credits specifically identified in the non-GAAP reconciliation schedules set forth below. The Company uses non-GAAP net income/loss in evaluating the Company's historical and prospective operating financial performance, as well as its operating performance relative to its competitors. Specifically, management uses this non-GAAP measure to further understand the Company's "core operating performance."

    Adjusted EBITDA

    Adjusted EBITDA is calculated as net income/loss excluding the impact of taxes, net interest income/expense, depreciation and amortization, net foreign currency translation gains/losses, as well as restructuring and severance, impairment, non-cash compensation related to stock and options, expenses or income from certain legal actions, settlements and related costs outside our normal course of business, and certain other one-time charges and credits specifically identified in the non-GAAP reconciliation schedules set forth below. The Company uses Adjusted EBITDA in evaluating the Company's historical and prospective cash usage, as well as its cash usage relative to its competitors. Specifically, management uses this non-GAAP measure to further understand and analyze the cash used in/generated from the Company's core operations. The Company believes that by excluding these non-cash and non-recurring charges, more accurate expectations of its future cash needs can be assessed in addition to providing a better understanding of the actual cash used in or generated from core operations for the periods presented. The Company further believes that providing this information allows the Company's investors greater transparency and a better understanding of the Company's core cash position.

    OCLARO, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in thousands, except per share amounts) Three Months Ended ------------------- January 2, September 26, December 27, 2010 2009 2008 ----------- ------------- ------------ Revenues $93,574 $85,110 $43,375 Cost of revenues 68,715 63,119 36,971 ------ ------ ------ Gross profit 24,859 21,991 6,404 Operating expenses: Research and development 9,675 9,014 5,786 Selling, general and administrative 14,835 12,963 7,574 Amortization of intangible assets 125 125 178 Restructuring, merger and related costs 3,040 1,499 129 Legal settlements - - 308 Gain on sale of property and equipment (71) (532) (8) Impairment of goodwill and other intangibles - - 7,881 --- --- ----- Total operating expenses 27,604 23,069 21,848 ------ ------ ------ Operating loss (2,745) (1,078) (15,444) Other income (expense): Other income (expense) 28 5,267 (95) Interest income 2 23 201 Interest expense (33) (88) (196) Foreign currency translation gain (loss), net 793 (1,276) 9,866 --- ------ ----- Total other income (expense) 790 3,926 9,776 --- ----- ----- Income (loss) from continuing operations before income taxes (1,955) 2,848 (5,668) Income tax provision 524 223 36 --- --- --- Income (loss) from continuing operations (2,479) 2,625 (5,704) Income (loss) from discontinued operations, net of tax - 1,420 (757) --- ----- ---- Net income (loss) $(2,479) $4,045 $(6,461) ======= ====== ======= Net income (loss) from continuing operations per share: Basic $(0.01) $0.01 $(0.06) Diluted $(0.01) $0.01 $(0.06) Net income (loss) per share: Basic $(0.01) $0.02 $(0.06) Diluted $(0.01) $0.02 $(0.06) Shares used in computing net income (loss) per share: Basic 190,764 186,199 100,339 Diluted 190,764 190,501 100,339 Stock-based compensation included in the following: Cost of revenues 219 195 261 Research and development 290 209 204 Selling, general and administrative 522 516 476 Income (loss) from discontinued operations, net of tax - - 83 --- --- --- Total 1,031 920 1,024 ===== === ===== OCLARO, INC. RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES (unaudited, in thousands, except per share amounts) Three Months Ended ------------------- January 2, September 26, December 27, 2010 2009 2008 ---------- ------------- ------------ Reconciliation of GAAP revenues to non-GAAP revenues: GAAP revenues $93,574 $85,110 $43,375 Revenues from discontinued operations - - 6,829 --- --- ----- Non-GAAP Revenues $93,574 $85,110 $50,204 ======= ======= ======= Reconciliation of GAAP net income (loss) to non-GAAP net income and adjusted EBITDA: GAAP net income (loss) $(2,479) $4,045 $(6,461) Stock-based compensation 1,031 920 1,024 Restructuring and related costs: Continuing operations 3,040 1,499 129 Discontinued operations - - 353 Legal settlements - - 308 Income tax provision: Continuing operations 524 223 36 Impairment of goodwill and other intangible assets: Continuing operations - - 7,881 Gain from bargain purchase - (5,267) - Gain on sale of New Focus business - (1,420) - --- ------ --- Non-GAAP net income 2,116 - 3,270 ----- --- ----- Depreciation expense: Continuing operations 2,822 2,664 2,754 Discontinued operations - - 77 Amortization expense: Continuing operations 125 125 178 Discontinued operations - - 266 Impairment of short-term investments (28) - 106 Interest (income) expense, net 31 65 (13) Foreign currency translation (gain) loss, net (793) 1,276 (9,866) ---- ----- ------ Adjusted EBITDA 4,273 4,130 (3,228) ===== ===== ====== Non-GAAP net income per share: Basic $0.01 $- $0.03 Diluted $0.01 $- $0.03 Shares used in computing Non- GAAP net income per share: Basic 190,764 186,199 100,339 Diluted 190,764 190,501 100,339 OCLARO, INC. RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES (unaudited, in thousands, except per share amounts) Three Months Ended ------------------- January 2, September 26, December 27, 2010 2009 2008 ---------- ------------- ------------ Reconciliation of GAAP gross margin rate to non-GAAP gross margin rate: GAAP gross profit: Continuing operations $24,859 $21,991 $6,404 Discontinued operations - - 2,301 Stock-based compensation included in cost of revenues: Continuing operations 219 195 261 Discontinued operations - - 23 --- --- --- Non-GAAP gross profit $25,078 $22,186 $8,989 ======= ======= ====== GAAP gross margin rate 26.6% 25.8% 14.8% Non-GAAP gross margin rate 26.8% 26.1% 17.9% Reconciliation of GAAP operating income (loss) to non-GAAP operating income (loss): GAAP operating income (loss): Continuing operations $(2,745) $(1,078) $(15,444) Discontinued operations - 1,420 (829) Gain on sale of New Focus business - (1,420) - Stock-based compensation 1,031 920 1,024 Restructuring and related costs: Continuing operations 3,040 1,499 129 Discontinued operations - - 353 Legal settlements - - 308 Amortization of intangible assets: Continuing operations 125 125 178 Discontinued operations - - 266 Impairment of goodwill and other intangible assets: Continuing operations - - 7,881 --- --- ----- Non-GAAP operating income (loss) $1,451 $1,466 $(6,134) ====== ====== ======= OCLARO, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in thousands) January 2, June 27, ASSETS 2010 2009 ---------- -------- Current assets: Cash and cash equivalents $51,731 $44,561 Short-term investments - 9,259 Restricted cash 4,309 4,208 Accounts receivable, net 70,613 58,483 Inventories 61,147 59,527 Prepaid expenses and other current assets 14,168 11,834 Assets held for sale - 10,442 --- ------ Total current assets 201,968 198,314 ------- ------- Property and equipment, net 34,045 29,875 Goodwill 25,219 - Other intangible assets, net 8,746 1,951 Other non-current assets 2,129 3,248 ----- ----- Total assets $272,107 $233,388 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $41,624 $31,943 Accrued expenses and other liabilities 36,608 39,016 Liabilities held for sale - 2,028 --- ----- Total current liabilities 78,232 72,987 ------ ------ Deferred gain on sale-leaseback 14,213 15,088 Other long-term liabilities 10,437 4,923 ------ ----- Total liabilities 102,882 92,998 ------- ------ Stockholders' equity: Common stock 2,123 1,862 Additional paid-in capital 1,225,888 1,199,358 Accumulated other comprehensive income 31,675 30,905 Accumulated deficit (1,090,461) (1,091,735) ---------- ---------- Total stockholders' equity 169,225 140,390 ------- ------- Total liabilities and stockholders' equity $272,107 $233,388 ======== ========

    Oclaro, Inc.

    CONTACT: Jerry Turin, Chief Financial Officer of Oclaro, Inc.,
    +1-408-383-1400, ir@oclaro.com; or Investors, Jim Fanucchi of Summit IR Group
    Inc., +1-408-404-5400, ir@oclaro.com, for Oclaro, Inc.

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




    Uroplasty Reports Results For Third Quarter FY2010- Strong Macroplastique(R) Year-over-Year U.S. Sales Growth - - Significant Publication & Presentation Schedule for Uroplasty Products - - Conference Call to be Held Today at 3:30 pm Central Time -

    MINNEAPOLIS, Feb. 1 /PRNewswire-FirstCall/ -- Uroplasty, Inc. (NYSE Amex: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today reported financial results for the third fiscal quarter ended December 31, 2009.

    "We continue to successfully execute our strategy for the current fiscal year by growing U.S. Macroplastique sales and maximizing the potential for gaining a unique CPT code for Urgent PC® treatments," said David Kaysen, President & CEO. "We submitted our application in November to The American Medical Association (AMA) for a unique CPT code for percutaneous tibial nerve stimulation. The AMA will evaluate our application at their February 11-13 meeting. We are encouraged by the support we are receiving for our application from leading urologists and the American Urology Association. We are not permitted to discuss the results from the meeting as we are bound by a confidentiality agreement with the AMA. In October the new CPT codes will be published in the Federal Register by the Centers for Medicare and Medicaid Services (CMS).

    "Our fiscal third quarter sales illustrate the continued strong growth of Macroplastique in the U.S.," continued Mr. Kaysen. "Sales of our Macroplastique product in the U.S. through nine months of our current fiscal year have about doubled over the corresponding year-ago period. However, our European sales of Macroplastique continue to be impacted by a competitive product launch. Urgent PC sales in the U.S. remain challenged by the uncertain insurance reimbursement environment, but have remained relatively stable in recent quarters. At the same time, with our vigilant efforts to control expenses, we have maintained our December 31, 2009 cash position at about the same level as at September 30, 2009. We believe we have adequate liquidity to meet our needs for the next 12 months."

    Fiscal Third Quarter and Nine Month Results for the Periods Ended December 31, 2009

    Net sales for the three months ended December 31, 2009 were $3.1 million versus $3.4 million for the year-ago quarter. Net sales for the nine months ended December 31, 2009 were $8.9 million versus $11.8 million for same period a year ago.

    Net sales to customers in the U.S. during the three months ended December 31, 2009 totaled $1.5 million, as compared to net sales of $1.9 million for the three months ended December 31, 2008. Sales of Urgent PC of $934,000 declined from $1.6 million in the year-ago quarter. The trend in decline of Urgent PC sales over corresponding year-ago periods began in the second half of fiscal 2009 due to reimbursement related issues. Sales of Urgent PC have stabilized at around $900,000 to $1 million per quarter in each of the last three quarters. Partially offsetting the decline in Urgent PC sales was an increase in sales of Macroplastique to $565,000 from $321,000 in the year-ago quarter. Sales of Macroplastique to customers in the U.S. for the first nine months of fiscal 2010 about doubled to $1.5 million from $762,000 for the first nine months of fiscal 2009. Sales of Macroplastique have increased over the year-ago periods because of increased sales and marketing focus.

    Sales to customers outside of the U.S. for the three months ended December 31, 2009 were $1.6 million, compared to $1.4 million in the year-ago period. Excluding the translation impact of fluctuations in foreign currency exchange rates, sales decreased by approximately 2%. Sales for the nine months ended December 31, 2009 were $4.4 million, a decrease of 19% from $5.5 million for the nine months ended December 31, 2008. Excluding the translation impact of fluctuations in foreign currency exchange rates, sales decreased by approximately 15%. The sales decrease for the nine months is mainly attributed to increased competition for Macroplastique from a newly-introduced product. In addition, in fiscal year 2010 the Company discontinued sales in the United Kingdom of the I-Stop mid-urethral sling product, which accounted for sales of approximately $135,000 for the nine months ended December 31, 2008 and $191,000 in fiscal 2009.

    Net loss for the third fiscal quarter ended December 31, 2009 was $387,000, or $0.03 per diluted share, versus a net loss of $894,000, or $0.06 per diluted share for the third quarter of last year. For the first nine months of fiscal 2010, the net loss was $2.6 million, or $0.18 per diluted share as compared with a net loss for the first nine months of fiscal 2009 of $1.9 million, or $0.12 per diluted share.

    At December 31, 2009, cash and cash equivalents, and short-term investments were $5.9 million compared with $5.8 million at September 30, 2009 and $7.8 million as of March 31, 2009.

    "Looking ahead, we expect the current sales trends to continue for the remainder of fiscal 2010," said Mr. Kaysen. "U.S. sales of Macroplastique should continue to grow during the remainder of the fiscal year as we expect to benefit from our increased sales and marketing effort, while Urgent PC sales continue to stabilize. As we've stated in the past, we do not expect that we will be able to return to significant sales growth or return to the historic sales level of Urgent PC in the U.S. until a new listed CPT code is assigned and payers create coverage policies that provide adequate reimbursement.

    "For the past five quarters we have implemented a comprehensive program designed to educate Medicare carriers and private payer medical directors about the clinical efficacy of Urgent PC. As a result, we remain well ahead of our planned publication and presentation schedule for Urgent PC. The data demonstrating sustained symptom improvement at one year from Phase 2 of the OrBIT study of Urgent PC was published in the January 2010 edition of The Journal of Urology®. The SUmiT study results are expected to be published in the April 2010 edition of The Journal of Urology, and, at the upcoming Society for Urodynamics and Female Urology annual meeting in late February, both Urgent PC and Macroplastique will be featured in several clinician presentations. We believe these publications and presentations, as well as others, will lead the medical directors to reaffirm or reinstate reimbursement, as well as aid us in our CPT code application. Our overall goal remains to obtain a unique CPT code that will encourage broader use of Urgent PC. We are confident that we are moving closer toward attaining that goal," Mr. Kaysen concluded.

    Conference Call

    Uroplasty will host an audio conference call today at 3:30 pm Central, 4:30 pm Eastern, to review the financial results for the third fiscal quarter of 2010. David Kaysen, President and Chief Executive Officer and Medi Jiwani, Vice President, Chief Financial Officer and Treasurer will host the call. Individuals wishing to participate in the conference call should dial 877-941-8610. An audio replay will be available for 30 days following the call at 800-406-7325 (domestic) or 303-590-3030 (international), with the passcode 4203310#.

    About Uroplasty, Inc.

    Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom, is a medical device company that develops, manufactures and markets innovative proprietary products for the treatment of voiding dysfunctions. Our focus is the continued commercialization of our Urgent PC system, which we believe is the only FDA-approved minimally invasive nerve stimulation device designed for office-based treatment of urinary urgency, urinary frequency and urge incontinence - symptoms often associated with overactive bladder.

    We also offer Macroplastique Implants, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence primarily due to intrinsic sphincter deficiency. For more information on the company and its products, please visit Uroplasty, Inc. at http://www.uroplasty.com/.

    Forward-Looking Information

    This press release contains forward-looking statements, which reflect our best estimates regarding future events and financial performance. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our anticipated results. We discuss in detail the factors that may affect the achievement of our forward-looking statements in our Annual Report on Form 10-K filed with the SEC. Further, we cannot assure you that our SUmiT clinical trial will produce favorable results, that even if it does produce favorable results third-party payors will provide or continue to provide coverage and reimbursement, or reimburse the providers an amount sufficient to cover their costs and expenses, or that we will timely obtain, or even succeed at all at obtaining, a specific "listed" CPT reimbursement code from the AMA for Urgent PC treatments. We further cannot assure that reimbursement or other issues will not further impact our fiscal 2010 results.

    For Further Information: Uroplasty, Inc. EVC Group ---------------------------------------- --------- David Kaysen, President and CEO, or Doug Sherk (Investors) ----------------------------------- ---------------------- Medi Jiwani, Vice President, CFO, and Treasurer 415.896.6820 ----------------------------------------------- ------------ 952.426.6140 Chris Gale (Media) ------------ ------------------ 646.201.5431 ------------ UROPLASTY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended Nine Months Ended ------------------ ----------------- December 31, December 31, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- Net sales $3,068,142 $3,387,285 $8,880,546 $11,833,422 Cost of goods sold 505,399 533,987 1,592,443 1,791,153 ------- ------- --------- --------- Gross profit 2,562,743 2,853,298 7,288,103 10,042,269 --------- --------- --------- ---------- Operating expenses General and administrative 639,608 713,545 2,201,199 2,670,653 Research and development 401,481 723,673 1,365,194 1,457,170 Selling and marketing 1,702,900 2,125,274 5,728,242 7,250,906 Amortization 211,189 211,626 634,505 633,567 ------- ------- ------- ------- 2,955,178 3,774,118 9,929,140 12,012,296 --------- --------- --------- ---------- Operating loss (392,435) (920,820) (2,641,037) (1,970,027) -------- -------- ---------- ---------- Other income (expense) Interest income 21,468 24,001 77,097 162,657 Interest expense (1,291) (1,787) (10,986) (15,372) Foreign currency exchange loss (8,335) - (23,030) (731) Other, net - - (183) (4,687) --- --- ---- ------ 11,842 22,214 42,898 141,867 ------ ------ ------ ------- Loss before income taxes (380,593) (898,606) (2,598,139) (1,828,160) Income tax expense (benefit) 6,143 (4,684) 29,030 33,374 ----- ------ ------ ------ Net loss $(386,736) $(893,922) $(2,627,169) $(1,861,534) ========= ========= =========== =========== Basic and diluted loss per common share $(0.03) $(0.06) $(0.18) $(0.12) Weighted average common shares outstanding: Basic and diluted 14,946,540 14,924,540 14,943,638 14,919,216 UROPLASTY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS December 31, March 31, 2009 2009 ------------ --------- (unaudited) ----------- --------- Assets Current assets: Cash and cash equivalents & short-term investments $5,903,132 $7,776,299 Accounts receivable, net 1,204,466 1,214,049 Inventories 416,632 495,751 Other 266,901 279,898 ------- ------- Total current assets 7,791,131 9,765,997 Property, plant, and equipment, net 1,311,307 1,401,229 Intangible assets, net 2,744,143 3,378,648 Prepaid pension asset 93,040 66,130 Deferred tax assets 79,946 68,793 ------ ------ Total assets $12,019,567 $14,680,797 =========== =========== Liabilities and Shareholders' Equity Current liabilities: Current portion - deferred rent $35,000 $35,000 Accounts payable 292,087 604,593 Income tax payable - 56,785 Accrued liabilities: Compensation 888,083 983,052 Other 181,611 248,568 ------- ------- Total current liabilities 1,396,781 1,927,998 Deferred rent - less current portion 121,307 147,576 Accrued pension liability 321,471 296,646 ------- ------- Total liabilities 1,839,559 2,372,220 --------- --------- Total shareholders' equity 10,180,008 12,308,577 ---------- ---------- Total liabilities and shareholders' equity $12,019,567 $14,680,797 =========== =========== UROPLASTY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Nine Months Ended ----------------- December 31, ------------ 2009 2008 ---- ---- Cash flows from operating activities: Net loss $(2,627,169) $(1,861,534) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 852,370 849,933 Loss on disposal of equipment 183 4,687 Share-based consulting expense - 52,567 Share-based compensation expense 356,583 583,013 Deferred income taxes (5,299) (11,531) Deferred rent (26,250) (26,250) Changes in operating assets and liabilities: Accounts receivable 71,404 668,510 Inventories 112,460 (34,427) Other current assets and income tax receivable (44,238) 8,173 Accounts payable (324,094) (91,686) Accrued liabilities (221,266) (802,027) Accrued pension liability, net and income tax payable (20,141) (7,585) ------- ------ Net cash used in operating activities (1,875,457) (668,157) ---------- -------- Cash flows from investing activities: Proceeds from sale of short-term investments 3,000,000 14,157,410 Purchase of short-term investments (2,000,000) (7,891,373) Purchases of property, plant and equipment (70,354) (181,354) Proceeds from sale of property, plant and equipment 2,000 - Payments for intangible assets - (23,282) --- ------- Net cash provided by investing activities 931,646 6,061,401 ------- --------- Cash flows from financing activities: Repayment of debt obligations - (455,913) --- -------- Net cash used in financing activities - (455,913) --- -------- Effect of exchange rates on cash and cash equivalents 70,644 (255,095) ------ -------- Net increase (decrease) in cash and cash equivalents (873,167) 4,682,236 Cash and cash equivalents at beginning of period 3,276,299 3,880,044 --------- --------- Cash and cash equivalents at end of period $2,403,132 $8,562,280 ========== ========== Supplemental disclosure of cash flow information: Cash paid during the period for interest $6,145 $13,612 Cash paid during the period for income taxes 121,655 53,739

    Non-GAAP Financial Measures: The following table reconciles our operating loss calculated in accordance with accounting principles generally accepted in the U.S. (GAAP) to non-GAAP financial measures that exclude non-cash charges for share-based compensation, and depreciation and amortization expenses from gross profit, operating expenses and operating loss. The non-GAAP financial measures used by management and disclosed by us are not a substitute for, or superior to, financial measures and consolidated financial results calculated in accordance with GAAP, and you should carefully evaluate our reconciliations to non-GAAP. We may calculate our non-GAAP financial measures differently from similarly titled measures used by other companies. Therefore, our non-GAAP financial measures may not be comparable to those used by other companies. We have described the reconciliations of each of our non-GAAP financial measures described above to the most directly comparable GAAP financial measures.

    We use these non-GAAP financial measures, and in particular non-GAAP operating loss, for internal managerial purposes and incentive compensation for senior management because we believe such measures are one important indicator of the strength and the operating performance of our business. Analysts and investors frequently ask us for this information. We believe that they use such measures to evaluate the overall operating performance of companies in our industry, including as a means of comparing period-to-period results and as a means of evaluating our results with those of other companies.

    Our non-GAAP operating loss of approximately $42,000 for the three months ended December 31, 2009 was less than the $492,000 operating loss in same period in fiscal 2009. Our non-GAAP operating loss was approximately $1.4 million for the nine months ended December 31, 2009 compared to an operating loss of $485,000 in same period fiscal in 2009. We attribute the increased operating loss during the nine months ended December 31, 2009 primarily to the decrease in sales and a lower gross margin rate, offset partially by a decrease in cash operating expenses. With continued focus on spending reductions, we reduced the operating loss for the three months ended December 31, 2009.

    Three Months Ended Nine Months Ended ------------------ ----------------- December 31, December 31, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- Gross Profit GAAP gross profit $2,562,743 $2,853,298 $7,288,103 $10,042,269 % of sales 84% 84% 82% 85% Share-based compensation 4,771 8,879 23,218 34,132 Depreciation expense 14,481 12,436 42,780 38,283 ------ ------ ------ ------ Non-GAAP gross profit 2,581,995 2,874,613 7,354,101 10,114,684 --------- --------- --------- ---------- Operating Expenses GAAP operating expenses 2,955,178 3,774,118 9,929,140 12,012,296 Share-based compensation 60,351 136,701 333,365 601,448 Depreciation expense 59,462 58,922 175,085 178,083 Amortization expense 211,189 211,626 634,505 633,567 ------- ------- ------- ------- Non-GAAP operating expenses 2,624,176 3,366,869 8,786,185 10,599,198 --------- --------- --------- ---------- Operating Loss GAAP operating loss (392,435) (920,820) (2,641,037) (1,970,027) Share-based compensation 65,122 145,580 356,583 635,580 Depreciation expense 73,943 71,358 217,865 216,366 Amortization expense 211,189 211,626 634,505 633,567 ------- ------- ------- ------- Non-GAAP operating loss $(42,181) $(492,256) $(1,432,084) $(484,514) -------- --------- ----------- ---------

    Uroplasty, Inc.

    CONTACT: David Kaysen, President and CEO, or Medi Jiwani, Vice
    President, CFO, and Treasurer, +1-952-426-6140, both of Uroplasty, Inc.; or
    Investors, Doug Sherk, +1-415-896-6820, or Media, Chris Gale, +1-646-201-5431,
    both of EVC Group, for Uroplasty, Inc.

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




    EDGAR Online to Report Fourth Quarter Results and Host Conference Call on Wednesday, February 10, 2010

    NEW YORK, Feb. 1 /PRNewswire-FirstCall/ -- EDGAR® Online, Inc. announced today that the company will release its financial results for the fourth quarter ended December 31, 2009, on Wednesday, February 10, 2010 after the U.S. capital markets close. On the same day at 5:00 p.m. EST, EDGAR Online will host a conference call to discuss the company's fourth quarter 2009 results.

    EDGAR Online CEO and President, Philip Moyer, and CFO, John Ferrara, will host the call. To participate, please dial (877) 407-8031 (toll-free for domestic callers), or (201) 689-8031 (international callers). The call will also be broadcast simultaneously and archived on the Internet at: http://www.edgar-online.com/investor/.

    Investors can access the teleconference replay beginning February 10, 2010 after 7:00 p.m. EST through February 17, 2010. To access the replay, dial (877) 660-6853 (domestic) or (201) 612-7415 (international). The account number is 286 and the conference ID is 343815.

    About EDGAR Online, Inc.

    EDGAR Online, Inc. is a leader in the distribution of company data and public filings for equities, mutual funds and a variety of other publicly traded assets. We deliver our information products directly to end users via online subscriptions and data licenses, and to redistributors who embed our content in their own and their clients' Web sites.

    Our proprietary automated systems allow for the rapid conversion of data and we are a pioneer and leader in the global financial reporting standard -- eXtensible Business Reporting Language, otherwise known as XBRL. We use our automated processing platform and our expertise in XBRL to produce both datasets and tools and to assist organizations with the creation, management and distribution of XBRL financial reports. For more detailed information on all of our businesses or to contact us please visit our Web site at http://www.edgar-online.com/.

    Forward Looking Statements

    "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. EDGAR Online, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise.

    Please refer to the documents filed by EDGAR Online, Inc. with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with our ability to (i) increase revenues, (ii) obtain profitability, (iii) obtain additional financing, (iv) changes in general economic and business conditions (including in the online business and financial information industry), (v) actions of our competitors, (vi) the extent to which we are able to develop new services and markets for our services, (vii) the time and expense involved in such development activities, (viii) risks in connection with acquisitions, (ix) the level of demand and market acceptance of our services, and (x) changes in our business strategies.

    EDGAR® is a federally registered trademark of the U.S. Securities and Exchange Commission. EDGAR Online is not affiliated with or approved by the U.S. Securities and Exchange Commission.

    EDGAR Online, Inc.

    CONTACT: John C. Ferrara, Chief Financial Officer, +1-212-457-8200,
    jferrara@edgar-online.com

    Web Site: http://www.edgar-online.com/




    Preferred Bank Announces Capital Ratios

    LOS ANGELES, Feb. 1 /PRNewswire-FirstCall/ -- Preferred Bank (the "Bank") today announced that on January 29, 2010 the Bank filed its December 31, 2009 Call Report with the Federal Financial Institutions Examination Council. In that report, Preferred Bank's regulatory capital ratios are as follows:

    -- Leverage Ratio: 7.56% -- Tier 1 risk-based capital ratio: 8.62% -- Total risk-based capital ratio: 9.90% About Preferred Bank

    Preferred Bank is one of the largest independent commercial banks in California focusing on the Chinese-American market. Preferred Bank is chartered by the State of California, and its deposits are insured by the Federal Deposit Insurance Corporation, or FDIC, to the maximum extent permitted by law. Preferred Bank conducts its banking business from its main office in Los Angeles, California, and through eleven full-service branch banking offices in Alhambra, Century City, Chino Hills, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Santa Monica, Anaheim and Pico Rivera, California. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers. Preferred Bank provides personalized deposit services as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses, entrepreneurs, real estate developers, professionals and high net worth individuals.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about Preferred Bank's future financial and operating results, Preferred Bank's plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of Preferred Bank's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: changes in economic conditions; changes in the California real estate market; the loss of senior management and other employees; natural disasters or recurring energy shortage; changes in interest rates; competition from other financial services companies; ineffective underwriting practices; inadequate allowance for loan and lease losses to cover actual losses; risks inherent in construction lending; adverse economic conditions in Asia; downturn in international trade; inability to attract deposits; inability to raise additional capital when needed or on favorable terms; inability to manage growth; inadequate communications, information, operating and financial control systems, technology from fourth party service providers; the U.S. government's monetary policies; government regulation; environmental liability with respect to properties to which the bank takes title; and the threat of terrorism. Additional factors that could cause Preferred Bank's results to differ materially from those described in the forward-looking statements can be found in Preferred Bank's 2008 Annual Report on Form 10-K filed with the Federal Deposit Insurance Corporation which can be found on Preferred Bank's website. The forward-looking statements in this press release speak only as of the date of the press release, and Preferred Bank assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contained in the forward-looking statements. For additional information about Preferred Bank, please visit Preferred Bank's website at http://www.preferredbank.com/.

    AT THE COMPANY: AT FINANCIAL RELATIONS BOARD: Edward J. Czajka Lasse Glassen Executive Vice President General Information Chief Financial Officer (213) 486-6546 (213) 891-1188 lglassen@mww.com

    Preferred Bank

    CONTACT: Edward J. Czajka, Executive Vice President Chief Financial
    Officer of Preferred Bank, +1-213-891-1188; or Lasse Glassen, General
    Information of Financial Relations Board, +1-213-486-6546, lglassen@mww.com,
    for Preferred Bank

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




    Attica and Lapeer, Michigan, Residents to Benefit From Verizon Wireless Network EnhancementsNew Cell Site Means Clearer Reception, Fewer Dropped Calls

    ATTICA, Mich., Feb. 1 /PRNewswire/ -- Verizon Wireless has activated a new cell site in Attica, which enables more customers to use their wireless phones concurrently to make calls; send and receive email and text, picture and video messages; access the Internet; view high-quality videos; and download music, games and ringtones, while enjoying clearer reception and fewer dropped calls.

    The new cell site, which is equipped with a permanent backup generator for times of emergency, improves voice and data coverage in Attica and to the western edge of Lapeer as well as the following:

    -- Along Imlay City Road between County Road 11 and County Road 16; and -- Between County Road 11 and County Road 16, south to Interstate 69 and north to Vernor Road.

    "This new cell site was built to ensure that our customers who travel in Lapeer County can continue relying on their phones," said Greg Haller, president-Michigan/Indiana/Kentucky Region, Verizon Wireless. "The most advanced device is only as good as the network it runs on. We aggressively invest in our Michigan network to increase coverage and capacity for our customers and continue to elevate the bar in network reliability."

    Verizon Wireless has invested more than $55 billion since it was formed -- $5.5 billion on average every year -- to increase the coverage and capacity of its premier nationwide network and to add new services. Since the company was formed in 2000, Verizon Wireless has invested more than $1.4 billion on improvements to its wireless network in Michigan.

    About Verizon Wireless in Michigan

    In Michigan, Verizon Wireless has more than 2,100 employees and 65 company-owned retail locations in more than 40 cities, including Allen Park, Alpena, Alpine Twp., Ann Arbor, Auburn Hills, Battle Creek, Bay City, Brighton, Burton, Canton, Clinton Twp., Dearborn, Detroit, East Lansing, Farmington Hills, Fenton, Flint, Fort Gratiot, Gaylord, Grand Rapids, Grandville, Highland Park, Holland, Jackson, Kentwood, Lake Orion, Lansing, Livonia, Midland, Monroe, Muskegon, Northville, Novi, Okemos, Petoskey, Pontiac, Portage, Rochester Hills, Royal Oak, Saginaw, St. Clair Shores, St. Joseph, Southfield, Taylor, Traverse City, Troy, Utica, Warren and Westland.

    About Verizon Wireless

    Verizon Wireless operates the nation's most reliable and largest wireless voice and 3G data network, serving more than 91 million customers. Headquartered in Basking Ridge, N.J., with 83,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NASDAQ and LSE: VOD). For more information, visit http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

    Verizon Wireless

    CONTACT: Michelle Gilbert, Verizon Wireless, +1-248-915-3680,
    michelle.gilbert@verizonwireless.com; or Adam Zielke, for Verizon Wireless,
    +1-248-855-6777, azielke@marxlayne.com

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




    AK Steel Announces March 2010 Surcharges for Electrical and Stainless Steels

    WEST CHESTER, Ohio, Feb. 1 /PRNewswire-FirstCall/ -- AK Steel has advised its customers that a $325 per ton surcharge will be added to invoices for electrical steel products shipped in March 2010. March 2010 surcharges for the broad range of stainless steel products that AK Steel produces can be found on the company's web site at http://www.aksteel.com/.

    AK Steel's surcharges are based on reported prices for raw materials and energy used to manufacture the products, with the January 2010 purchase cost used to determine the March 2010 surcharges.

    About AK Steel

    AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets. The company employs about 6,200 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its corporate headquarters in West Chester, Ohio. Additional information about AK Steel is available on the company's web site at http://www.aksteel.com/.

    AK Tube LLC, a wholly owned subsidiary of AK Steel, employs about 300 men and women in plants in Walbridge, Ohio and Columbus, Indiana. AK Tube produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets. Additional information about AK Tube LLC is available on its web site at http://www.aktube.com/.

    AK Steel

    CONTACT: Media: Alan H. McCoy, Vice President, Government and Public
    Relations, +1-513-425-2826; or Investors: Albert E. Ferrara, Jr., Vice
    President, Finance & CFO, +1-513-425-2888

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




    Savvis Executives to Present at Major Investor Conferences in February and March

    ST. LOUIS, Feb. 1 /PRNewswire-FirstCall/ -- Savvis, Inc. , a global leader in outsourced internet IT infrastructure services for enterprises, announced today that Greg Freiberg, chief financial officer, and Bryan Doerr, chief technology officer, will be presenting at several investor conferences in February and March.

    February 8, 2010: Thomas Weisel Partners 8th Annual Technology and Telecom Conference

    -- Bryan Doerr will present at 8 a.m. PST March 3, 2010: Morgan Stanley Technology, Media & Telecom Conference -- Greg Freiberg will present 2:10 p.m. PST

    Webcasts for both of the events will be available at the investor relations section of the Savvis Web site found at savvis.net. Replays of the webcasts will be available on the same site, following the live events.

    About Savvis

    Savvis, Inc. is a global leader in outsourced internet infrastructure services for enterprises. More than 4,000 customers, including 40 percent of the top 100 companies in the Fortune 500, use Savvis to reduce capital expense, improve service levels and harness the latest advances in cloud computing. For more information visit http://www.savvis.net/.

    Savvis, Inc.

    CONTACT: Investors, Peggy Reilly Tharp, +1-314-628-7491,
    peggy.tharp@savvis.net, or Media, Carter Cromley, +1-703-667-6110,
    carter.cromley@savvis.net, both of Savvis, Inc.

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




    Students Learn About 'Cyber Bullying' and Steps to Create a Safe and Secure Online ExperienceVerizon and i-SAFE Partner for Cyber Safety Week and Provide Online Safety Education Events

    NORTHAMPTON, Mass., Feb. 1 /PRNewswire/ -- Internet safety experts are teaching middle and high school students steps they can take to have a safe and secure online experience and address issues such "cyber bullying" through i-SAFE education and awareness programs.

    The first program, held Monday (Feb. 1) at the JFK Middle School in Northampton, kicks off a series of 12 Internet safety seminars this week -- Cyber Safety Week -- at schools in western Massachusetts - in Pittsfield, North Adams, Northfield and West Springfield, in addition to Northampton.

    The sessions are being held by Verizon and i-SAFE, the leader in online safety education, and funded by a $40,000 grant from the Verizon Foundation. They cover a wide range of topics, including: cyber predators, cyber gangs, identity theft, leetspeak (online code words), mobile romance (dating services over cell phones) and multiplayer online games.

    Monday's event was hosted by Northampton Mayor Clare Higgins, Northampton Schools Superintendent Isabelina Rodriguez and Verizon New England President Donna Cupelo.

    Among the 26 million students receiving i-SAFE training nationally, more than 326,000 of them are in Massachusetts and Rhode Island. The Cyber Safety Week events are expected to reach at least 4,000 more students.

    The sessions for students are aimed at encouraging them to learn the steps they can take to remain safe online and then share that knowledge with their friends and families. Similar sessions for parents raise awareness and help provide them with tools to protect their families online.

    Verizon and i-Safe have partnered to hold similar Internet safety programs in several states across the country.

    Verizon is engaged in Internet safety on multiple fronts. The company provides customers with an industry-leading slate of online cybersecurity tools and educational programs that empower parents and children. Verizon also works closely with law enforcement to assist with investigations involving crimes against children, and partners with organizations like i-SAFE to deliver tools and information to various segments of the community.

    Cupelo said, "Online technology provides endless opportunities for students and families, through the use of simple tools students can ensure they feel safe and secure while online and provide their parents piece of mind."

    Data collected by i-SAFE also show that 35 percent of Massachusetts students tell their parents "almost nothing" or "nothing" about their Internet-only friends. And 30 percent of fifth- through twelfth-graders said their parents would disapprove or punish them if they knew about all their Internet activities. To date, i-SAFE has helped educate more than 26 million students and more than 250,000 adults nationwide through Congressional funding and corporate partnerships.

    More information about Verizon's Internet safety initiatives can be found at http://www.verizonnationalmedia.com/familycenter/ and http://www.verizonfoundation.org/core/internet_safety.shtml.

    About i-SAFE Inc.

    Founded in 1998 and active in all 50 states, i-SAFE Inc. is the leader in e-Safety education. i-SAFE is a nonprofit organization whose mission is to educate and empower students, parents, seniors, and community members to safely and responsibly take control of their Internet experiences. i-SAFE provides knowledge that will enable them to recognize and avoid dangerous, destructive, or unlawful online behavior, and to respond appropriately. This is accomplished through dynamic K through 12 curriculum and community-outreach programs to students, parents, law enforcement, and community leaders. i-SAFE is the only e-Safety foundation to combine these elements. i-SAFE Inc. is recognized by the U.S. Internal Revenue Service as a tax-exempt 501(c)(3) charitable organization. http://www.i-safe.org/

    About the Verizon Foundation

    The Verizon Foundation, the philanthropic arm of Verizon Communications, supports the advancement of literacy and K-12 education through its free educational Web site, Thinkfinity.org, and fosters awareness and prevention of domestic violence. In 2009, the Verizon Foundation awarded more than $67.5 million in grants to nonprofit agencies in the U.S. and abroad. It also matched the charitable donations of Verizon employees and retirees, resulting in an additional $26.1 million in combined contributions to nonprofits. Through Verizon Volunteers, one of the nation's largest employee volunteer programs, Verizon employees and retirees have volunteered more than 5 million hours of community service since 2000. For more information on the foundation, visit http://www.verizonfoundation.org/.

    About Verizon

    Verizon Communications Inc. , headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 91 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of approximately 222,900 and last year generated consolidated revenues of more than $107 billion. For more information, visit http://www.verizon.com/.

    VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

    Verizon

    CONTACT: Jeff Godlis, +1-760-603-7911, ext. 39, jgodlis@i-SAFE.org; or
    Phil Santoro, +1-617-743-4760, philip.g.santoro@verizon.com

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

    Company News On-Call: http://www.prnewswire.com/comp/094251.html




    Regal Beloit Corporation to Hold Fourth Quarter 2009 Earnings Conference Call on Thursday February 4, 2010

    BELOIT, Wis., Feb. 1 /PRNewswire-FirstCall/ -- Regal Beloit Corporation announced today that it plans to release its 2009 fourth quarter financial results after the market closes on Wednesday February 3, 2010.

    At 11:00 AM CT (12:00 PM ET) on Thursday February 4, 2010, the Company will hold a conference call to discuss the earnings release. To listen to the call via the internet, please go to http://www.regalbeloit.com/ or at http://event.meetingstream.com/r.htm?e=191340&s=1&k=0518566ACC16F62CF5E9482075 EE0488. Individuals who would like to participate by phone should dial 866-394-7807, referencing Regal Beloit conference ID 54094708. International callers should dial 763-488-9117 using the same conference ID.

    A telephone replay of the call will be available through March 4, 2010 at 800-642-1687, conference ID 54094708 International callers should call 706-645-9291 using the same conference ID. A webcast replay will be available for 90 days and can be accessed at http://www.regalbeloit.com/rbceventspresentations.htm or at http://event.meetingstream.com/r.htm?e=191340&s=1&k=0518566ACC16F62CF5E9482075 EE0488.

    Regal Beloit Corporation is a leading manufacturer of mechanical and electrical motion control and power generation products serving markets throughout the world. Regal Beloit is headquartered in Beloit, Wisconsin, and has manufacturing, sales, and service facilities throughout the United States, Canada, Mexico, Europe and Asia. Regal Beloit's common stock is a component of the S&P Mid Cap 400 Index and the Russell 2000 Index.

    Regal Beloit Corporation

    CONTACT: John M. Perino, Vice President, Investor Relations of Regal
    Beloit Corporation, +1-608-361-7501

    Web Site: http://www.regal-beloit.com/




    WebMD Announces Fourth Quarter Earnings Release Date and Conference Call

    NEW YORK, Feb. 1 /PRNewswire-FirstCall/ -- WebMD Health Corp. today announced that it will release financial results for the three months ended December 31, 2009 at approximately 4:00 pm (ET) on Thursday, February 18, 2010. The Company will host a conference call at 4:45 pm (ET) on that day to discuss those results.

    Investors can access the call via webcast at http://www.wbmd.com/ (in the Investor Relations section). A replay of the call will be available at the same web address.

    About WebMD

    WebMD Health Corp. is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers and health plans through our public and private online portals and health-focused publications. Approximately 60 million unique visitors access the WebMD Health Network each month. The WebMD Health Network includes WebMD Health, Medscape, MedicineNet, eMedicine, eMedicine Health, RxList and theHeart.org.

    All statements contained in this press release, other than statements of historical fact, are forward-looking statements. These statements are based on WebMD's current plans and expectations and involve risks and uncertainties, including those described in our SEC filings.

    WebMD

    CONTACT: For Investors: Risa Fisher, +1-212-624-3817, rfisher@webmd.net;
    For Media: Kate Hahn, +1-212-624-3760, khahn@webmd.net

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




    Verizon Waives Long-Distance Charges for Calls to Haiti From Customers' Residential Wireline and Wireless Phones for Two More Weeks, Through Feb. 14Action Is Latest Step Company Is Taking to Connect Family and Friends With Earthquake Victims, and Provide Funds to Haiti

    NEW YORK, Feb. 1 /PRNewswire/ -- To further help its customers contact loved ones in Haiti, Verizon and Verizon Wireless will extend for two more weeks the waiver of all long-distance usage charges for calls to Haiti from the companies' residential landline and wireless phones.

    "It's been almost three weeks since the devastating earthquake, and we know that many people still haven't had the chance to speak with their loved ones yet because much work still remains to be done to restore the communications system in Haiti," said Susan Retta, vice president of consumer products for Verizon. "As a result, we've decided to continue to waive long-distance calls to Haiti to help connect our customers here with their families and friends there."

    The extension of the waiver of charges, through Feb. 14, is the latest step Verizon has taken to provide help to the victims of the earthquake that struck Haiti on Jan. 12 - and their friends and loved one in the U.S.

    Previously, Verizon announced that all calls made from a Verizon residential landline or Verizon Wireless phone to Haiti will be rated at $0.00 per minute,* from Jan 12 through Jan 31. The waiver will now be in effect for two more weeks. Credit will be provided in future bill statements for long-distance charges for calls to Haiti that were made since Jan. 12.**

    Last week, Verizon waived all Verizon Prepaid Phone Card charges for all long-distance calls placed from the U.S. to Haiti, through Feb. 14. When a customer uses a Verizon Prepaid Phone Card to call Haiti, no minutes will be taken off the card, regardless of when it was purchased. Verizon Prepaid Phone Cards can be obtained at many retail locations across the U.S.

    Additionally, customers with the Verizon International Single Rate plan who have either 300 or 500 minutes of long-distance calling can call Haiti without using any minutes from their time-allotment blocks.

    Verizon Helping Haiti

    Verizon Wireless customers can aid American Red Cross relief efforts in Haiti by texting "HAITI" to 90999 to donate $10 from their personal phones. Verizon Wireless is waiving the text-messaging fees, and 100 percent of each $10 donation goes to the Red Cross. The $10 donations will appear in customers' next regular monthly bill.

    At the end of last week, close to 1 million Verizon Wireless customers had used text messaging to make a donation to the American Red Cross, and more than $9 million has been contributed to the aid organization since the crisis began.

    In addition, the Verizon Foundation, the company's philanthropic arm, and Verizon employees have pledged more than $1.1 million in donations to support earthquake-relief efforts in Haiti.

    Of the more than $1.1 million, $1 million has been raised through the Verizon employee disaster-relief matching-gift program. Under the program, the Verizon Foundation matches employee donations dollar for dollar, up to $1,000 per employee, to two nonprofit organizations, World Vision and Food for the Poor that are providing aid in Haiti.

    In addition, the Verizon Foundation has awarded grants of $50,000 each to World Vision and Food for the Poor.

    *Only long-distance usage charges associated with calls made from residential landlines terminating to wireline or wireless destinations in Haiti will be waived from Jan. 12 - Feb. 14. All other fees including taxes, surcharges, monthly recurring charges (MRCs), minimum spend levels (MSLs), monthly minimum charges (MMCs), etc will continue to apply. Post-paid calling card charges to Haiti will also be waived.

    **If long distance calling fees were charged, credits will be issued in a future bill statement.

    Verizon Communications Inc. , headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 91 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of approximately 222,900 and last year generated consolidated revenues of more than $107 billion. For more information, visit http://www.verizon.com/.

    VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

    Verizon

    CONTACT: Ellen Yu (Long-Distance Calling), +1-908-559-3496,
    ellen.yu@verizon.com, Jeffrey Nelson (Verizon Wireless), +1-917-968-9175,
    jeffrey.nelson@verizonwireless.com, or Brian Malina (Verizon Foundation),
    +1-908-559-6434, brian.c.malina@verizon.com

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

    Company News On-Call: http://www.prnewswire.com/comp/094251.html




    PharmAthene Submits White Paper to BARDA for Advanced Development Funding for SparVax(TM) - Novel Recombinant Protective Antigen Anthrax Vaccine

    ANNAPOLIS, Md., Feb. 1 /PRNewswire-FirstCall/ -- PharmAthene, Inc. (NYSE Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, announced today that it has submitted a White Paper in response to the Broad Agency Announcement (Solicitation Number: BAA-BARDA-09-34) issued by the Biomedical Advanced Research and Development Authority (BARDA) for the Advanced Research and Development of Chemical, Biological, Radiological and Nuclear Medical Countermeasures. In December 2009, this BAA was specially modified and extended to accommodate rPA-related submissions.

    David P. Wright, President and Chief Executive Officer of PharmAthene, commented, "In consultation with BARDA, today PharmAthene submitted a White Paper for advanced development of SparVax(TM) in response to the BAA. If BARDA finds our submission acceptable, a formal proposal will be requested. We believe that, if awarded, funding provided under this BAA, along with potential additional funding under our existing contract with BARDA, will be sufficient to advance SparVax(TM) to a stage where it will be eligible for consideration for a Project BioShield procurement contract."

    "There has been widespread acknowledgement across the scientific community of the need for a next-generation anthrax vaccine that offers the potential for improved safety, convenience and cost-effectiveness. SparVax(TM) is the leading rPA-based vaccine and is well positioned to meet these requirements. We look forward to continuing our work with the government to develop the necessary medical countermeasure to successfully deter or quickly respond to a biologic attack and save American lives," continued Mr. Wright.

    About SparVax(TM)

    SparVax(TM) is a novel second generation recombinant protective (rPA) anthrax vaccine being developed for administration by intramuscular injection. This product candidate employs modern vaccine technology to provide a highly purified and well characterized modern vaccine for intended use by the military and civilian Strategic National Stockpile. Phase I and Phase II clinical trials involving more than 750 healthy human subjects have been completed and showed that SparVax(TM) appears to be well tolerated and induces an immune response in humans. These studies suggest that three doses of SparVax(TM), administered several weeks apart, should be sufficient to induce protective immunity. In non-clinical studies SparVax(TM) has also demonstrated the capability to protect rabbits and non-human primates against a lethal aerosol spore challenge of the anthrax Ames strain. The clinical and non-clinical studies for SparVax(TM) have been carried out under contracts with the National Institute of Allergy and Infectious Diseases and the National Institutes of Health.

    About PharmAthene, Inc.

    PharmAthene was formed to meet the critical needs of the United States and its allies by developing and commercializing medical countermeasures against biological and chemical weapons. PharmAthene's lead product development programs include:

    -- SparVax(TM) -- a second generation recombinant protective antigen (rPA) anthrax vaccine -- Third generation rPA anthrax vaccine -- Valortim® -- a fully human monoclonal antibody for the prevention and treatment of anthrax infection -- Protexia® -- a novel bioscavenger for the prevention and treatment of morbidity and mortality associated with exposure to chemical nerve agents For more information about PharmAthene, please visit http://www.pharmathene.com/. Statement on Cautionary Factors

    Except for the historical information presented herein, matters discussed may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements preceded by, followed by, or that include the words "potential"; "believe"; "anticipate"; "intend"; "plan"; "expect"; "estimate"; "could"; "may"; "should"; or similar statements are forward-looking statements. PharmAthene disclaims, however, any intent or obligation to update these forward-looking statements. Risks and uncertainties include risk associated with the reliability of the results of the studies relating to human safety and possible adverse effects resulting from the administration of the Company's product candidates, unexpected funding delays and/or reductions or elimination of U.S. government funding for one or more of the Company's development programs, the award of government contracts to our competitors, unforeseen safety issues, challenges related to the development, scale-up, and/or process validation of manufacturing processes for our product candidates, unexpected determinations that these product candidates prove not to be effective and/or capable of being marketed as products, as well as risks detailed from time to time in PharmAthene's Forms 10-K and 10-Q under the caption "Risk Factors" and in its other reports filed with the U.S. Securities and Exchange Commission (the "SEC"). In particular, there can be no assurance that the Company will receive any additional funding from the government for SparVax(TM). Further, significant additional non-clinical animal studies, human clinical trials, and manufacturing development work remain to be completed for SparVax(TM). At this point there can be no assurance that SparVax(TM) will be shown to be safe and effective and approved by regulatory authorities for use in humans.

    Copies of PharmAthene's public disclosure filings are available from its investor relations department and our website under the investor relations tab at http://www.pharmathene.com/.

    PharmAthene, Inc.

    CONTACT: Stacey Jurchison, PharmAthene, Inc., +1-410-269-2610,
    Stacey.Jurchison@PharmAthene.com

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




    Comerica Bank Announces Expansion in Southern California: Six New Banking Centers in Los Angeles, San Bernardino and San Diego Counties

    LOS ANGELES, Feb. 1 /PRNewswire-FirstCall/ -- Comerica Bank today announced the opening of a new banking center in Redondo Beach, Calif., and said it is the first of six new locations in Southern California in 2010.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO)

    "Because of the size and diversity of the Southern California regional economy, we have opened more new banking centers here in the last six years than in any of our other markets," said Mike Fulton, president and CEO of Comerica Bank's Western Market. "We're continuing to invest in the region because we believe in its potential for continued economic growth."

    "Because Comerica is a healthy bank with a strong capital position, we are able to help build futures for communities, families and employers of all sizes," said Fulton.

    "By the end of this year, we will have more than 100 banking centers in California - including 27 in Los Angeles County, 14 each in Orange and San Diego counties, plus three in San Bernardino and one in Ventura counties," said Betty Rengifo Tucker, executive vice president for Comerica Bank's retail operations in the Western Market. "It's exciting to be able to continue to expand access to our financial services in this important market."

    Before Comerica Bank began its California expansion in 2004, it had 42 banking centers statewide, 14 in three Southern California counties.

    These are the locations of the new banking centers:

    Redondo Beach - 1212 S. Pacific Coast Highway, Redondo Beach; Ronald Cerros, manager; opened Jan. 26; (310) 316-4241.

    Santa Monica - 1433 5th St., Santa Monica, near the Santa Promenade; Johnathan Shibata, manager; opens second quarter.

    South Pasadena - 824 Fair Oaks, South Pasadena, near the Mission Street area; opens second quarter.

    Vista (San Diego County) - 625 S. Melrose Drive, Vista; Christopher Fresca; opens second quarter.

    Mira Mesa (San Diego County) - Mira Mesa Blvd and Black Mountain, Mira Mesa; opens fourth quarter.

    Rancho Cucamonga - 12035 Foothill Blvd., Rancho Cucamonga; opens fourth quarter.

    Comerica, whose predecessor bank was founded in Michigan in 1849, offers complete checking and FDIC-insured deposit accounts, financial planning expertise, on-the-job banking, cash management and other business services, plus convenient

    About Comerica Bank

    Comerica Bank is a subsidiary of Comerica Incorporated , a Dallas-based company strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people be successful. In addition to Arizona and California, Comerica Bank locations can be found in Florida, Michigan and Texas, with select businesses operating in several other states, Canada, China and Mexico. Comerica reported total assets of $59.3 billion at Dec. 31, 2009. For more information, go to http://www.comerica.com/.

    Photo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO
    AP Archive: http://photoarchive.ap.org/
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    Away-From-Home Audience Puts Sports Viewing in the Red ZoneArbitron's PPM Data Shows Approximately 30 Percent of the Men 18-34 Who Watched the CBS Sports' AFC Championship Game between the Jets and the Colts Watched it Away from Home

    COLUMBIA, Md., Feb. 1 /PRNewswire-FirstCall/ -- Arbitron Inc. announced today, that data from more than 40,000 tabulated panelists in its Portable People Meter(TM) ratings service indicate that 30 percent of Men aged 18-34 who watched CBS Sports' 2010 NFL AFC Jets-Colts Championship game last weekend did so away from home. Men aged 18-34 Away-from-Home viewing lifted the In-Home audience by 44 percent. Away-from-Home viewing is defined as watching at a friend's house, at work, in a bar, or any location other than the respondent's home.

    (Photo: http://www.newscom.com/cgi-bin/prnh/20100201/NY47387-a )

    Source: These are minute-by-minute audience estimates based on Near-Live-Only Final Data which includes live-only viewership of those panelists who docked their PPM by 4am of the 3rd broadcast day. Time shifted viewing is excluded. The percentage of lift is the additional viewership realized from Away-from-Home viewing reported as a percentage of in-home viewing.

    "The largest Away-from-Home football study shows advertisers that the current total audience for Persons aged 18+ is approximately 28 percent higher and for targeted demos, Away-from-Home viewing is even stronger," said Pierre Bouvard, EVP, Cross-Platform Services, Arbitron Inc. "Whether viewers are visiting friends' homes, watching games in bars and restaurants or elsewhere, Arbitron can now track their Away-from-Home viewing."

    ARB-TV leverages PPM technology to measure Away-from-Home television audiences. The service currently uses 52,000 available panelists to look across 29 established PPM markets(1) to see the impact Away-from-Home viewing has on the total television audience. The service is designed to improve visibility into Away-from-Home television audiences for media companies and advertisers.

    (1)Arbitron has commercialized its Portable People Meter radio ratings service in 33 markets. For Arbitron's PPM Television audience estimates, Riverside is included as part of the Los Angeles market, San Jose is included as part of the San Francisco market, and Nassau-Suffolk and Middlesex-Somerset-Union are included as part of the New York market. As a result, Arbitron Television audience estimates cover 29 markets. Arbitron currently plans to commercialize its PPM ratings service in an additional 15 markets in 2010.

    Women Watch Football Away from Home, Too

    Men and Women aged 18-49 have proportionally similar Away-from-Home viewing. Among Men aged 18-49, Away-from-Home viewing represented approximately 26 percent of the total Men aged 18-49 audience. Women 18-49 Away-from-Home viewing represents 23 percent of the total Women aged 18-49 audience.

    Away-from-Home viewing by Women aged 18-49 added nearly 30 percent to the Women aged 18-49 Jets-Colts In-Home viewing audience.

    (Photo: http://www.newscom.com/cgi-bin/prnh/20100201/NY47387-b )

    Source: These are minute-by-minute audience estimates based on Near-Live-Only Final Data which includes live-only viewership of those panelists who docked their PPM by 4am of the 3rd broadcast day. Time shifted viewing is excluded. The percentage of lift is the additional viewership realized from Away-from-Home viewing reported as a percentage of in-home viewing.

    Kids and Teens Also Watched the Championship Game Away from Home

    Twenty percent of the total 6-17 viewing audience watched the Jets-Colts game away from home, representing a 25 percent lift over in-home viewing.

    "The large proportion of kids, teen and female Away-from-Home viewing indicates the social and family nature of the broadcast audience as opposed to the "guys in bars" stereotype," said Bouvard.

    Hometown Viewing

    The New York(2) Persons 18+ audience for the Jets-Colts game generated a 30.6 rating, a 37 percent increase compared to the 29 market average (23 rating). Among Men aged 18-49, New York viewing represented a 33.7 rating, a 48 percent increase versus the 29 market average (23.6). The Away-from-Home viewing among Men aged 18-49 in New York generated nearly double the 29-market average with an 11.0 rating. The 29 market average rating was 6.1.

    (2)Arbitron currently intends to commercialize the PPM ratings service in Indianapolis in September 2010.

    CBS Sports 2010 NFL AFC Jets-Colts Championship Audience, Persons Aged 18 and Older, January 24, 2010 % % Lift Away- (% of increase from- over in-home Market Location Rating Home audience) ------ -------- ------ ----- ------------- 29 Market Aggregate In-Home 18.0 Away-from-Home 5.0 21.8% 27.9% Total 23.0 ------------------------------------------------------------------- Atlanta In-Home 17.3 Away-from-Home 4.5 20.8% 26.2% Total 21.8 ------------------------------------------------------------------- Baltimore In-Home 22.7 Away-from-Home 6.6 22.5% 29.0% Total 29.2 ------------------------------------------------------------------- Boston In-Home 19.3 Away-from-Home 4.7 19.8% 24.6% Total 24.0 ------------------------------------------------------------------- Chicago In-Home 17.7 Away-from-Home 4.8 21.2% 26.8% Total 22.5 ------------------------------------------------------------------- Cincinnati In-Home 24.2 Away-from-Home 6.5 21.2% 26.9% Total 30.6 ------------------------------------------------------------------- Cleveland In-Home 20.6 Away-from-Home 4.8 19.0% 23.4% Total 25.4 ------------------------------------------------------------------- CBS Sports 2010 NFL AFC Jets-Colts Championship Audience, Persons Aged 18 and Older, January 24, 2010 % % Lift Away- (% of increase from- over in-home Market Location Rating Home audience) ------ -------- ------ ----- -------------- Dallas In-Home 16.2 Away-from-Home 4.3 21.1% 26.7% Total 20.6 ------------------------------------------------------------------- Denver In-Home 21.4 Away-from-Home 4.3 16.8% 20.2% Total 25.8 ------------------------------------------------------------------- Detroit In-Home 15.8 Away-from-Home 3.5 18.1% 22.1% Total 19.3 ------------------------------------------------------------------- Houston In-Home 16.4 Away-from-Home 4.4 21.2% 26.9% Total 20.8 ------------------------------------------------------------------- Kansas City In-Home 19.1 Away-from-Home 3.9 16.8% 20.3% Total 23.0 ------------------------------------------------------------------- Las Vegas In-Home 16.0 Away-from-Home 3.6 18.4% 22.5% Total 19.6 ------------------------------------------------------------------- Los Angeles* In-Home 12.6 Away-from-Home 3.4 21.3% 27.0% Total 16.0 ------------------------------------------------------------------- Miami In-Home 16.2 Away-from-Home 5.0 23.5% 30.7% Total 21.2 ------------------------------------------------------------------- Minneapolis In-Home 20.5 Away-from-Home 5.8 22.2% 28.5% Total 26.3 ------------------------------------------------------------------- New York** In-Home 22.4 Away-from-Home 8.2 26.9% 36.8% Total 30.6 ------------------------------------------------------------------- Philadelphia In-Home 18.3 Away-from-Home 5.6 23.5% 30.8% Total 23.9 ------------------------------------------------------------------- Phoenix In-Home 16.6 Away-from-Home 4.7 21.9% 28.0% Total 21.3 ------------------------------------------------------------------- Pittsburgh In-Home 24.6 Away-from-Home 7.4 23.2% 30.2% Total 32.1 ------------------------------------------------------------------- CBS Sports 2010 NFL AFC Jets-Colts Championship Audience, Persons Aged 18 and Older, January 24, 2010 % % Lift Away- (% of increase from- over in-home Market Location Rating Home audience) ------ -------- ------ ----- --------------- Portland, OR In-Home 14.0 Away-from-Home 3.4 19.4% 24.0% Total 17.4 ------------------------------------------------------------------- Sacramento In-Home 18.7 Away-from-Home 4.2 18.4% 22.6% Total 23.0 ------------------------------------------------------------------- Salt Lake City In-Home 8.9 Away-from-Home 1.8 16.5% 19.8% Total 10.6 ------------------------------------------------------------------- San Antonio In-Home 16.4 Away-from-Home 3.9 19.0% 23.5% Total 20.2 ------------------------------------------------------------------- San Diego In-Home 18.6 Away-from-Home 5.4 22.5% 29.0% Total 24.0 ------------------------------------------------------------------- San Francisco*** In-Home 15.4 Away-from-Home 4.1 21.0% 26.5% Total 19.4 ------------------------------------------------------------------- Seattle In-Home 14.3 Away-from-Home 4.2 22.8% 29.5% Total 18.5 ------------------------------------------------------------------- St. Louis In-Home 19.9 Away-from-Home 4.6 18.6% 22.9% Total 24.4 ------------------------------------------------------------------- Tampa In-Home 21.2 Away-from-Home 5.7 21.2% 26.9% Total 26.9 ------------------------------------------------------------------- Washington, DC In-Home 22.3 Away-from-Home 4.5 16.7% 20.1% Total 26.8 ------------------------------------------------------------------- *Includes Riverside-San Bernardino, a non-embedded market **Includes embedded markets (Nassau-Suffolk and Middlesex-Somerset-Union) ***Includes embedded market (San Jose) CBS Sports 2010 NFL AFC Jets-Colts Championship Audience Men Aged 18-49, January 24, 2010 % % Lift Away- (% of increase from- over in-home Market Location Rating Home audience) ------ -------- ------ ---- --------------- 29 Market Aggregate In-Home 17.5 Away-from-Home 6.1 25.8% 34.8% Total 23.6 ------------------------------------------------------------------- Atlanta In-Home 18.3 Away-from-Home 5.5 23.0% 29.9% Total 23.8 ------------------------------------------------------------------- Baltimore In-Home 22.2 Away-from-Home 9.2 29.2% 41.3% Total 31.4 ------------------------------------------------------------------- Boston In-Home 17.9 Away-from-Home 6.0 25.3% 33.8% Total 23.9 ------------------------------------------------------------------- Chicago In-Home 19.4 Away-from-Home 6.3 24.4% 32.3% Total 25.6 ------------------------------------------------------------------- Cincinnati In-Home 26.2 Away-from-Home 9.5 26.6% 36.3% Total 35.6 ------------------------------------------------------------------- Cleveland In-Home 22.2 Away-from-Home 6.1 21.6% 27.6% Total 28.4 ------------------------------------------------------------------- Dallas In-Home 14.6 Away-from-Home 4.5 23.6% 30.9% Total 19.1 ------------------------------------------------------------------- Denver In-Home 21.3 Away-from-Home 6.8 24.1% 31.8% Total 28.0 ------------------------------------------------------------------- Detroit In-Home 17.8 Away-from-Home 4.5 20.4% 25.6% Total 22.3 ------------------------------------------------------------------- Houston In-Home 14.3 Away-from-Home 4.8 25.1% 33.5% Total 19.0 ------------------------------------------------------------------- Kansas City In-Home 19.5 Away-from-Home 4.9 20.2% 25.3% Total 24.5 ------------------------------------------------------------------- CBS Sports 2010 NFL AFC Jets-Colts Championship Audience Men Aged 18-49, January 24, 2010 % % Lift Away- (% of increase from- over in-home Market Location Rating Home audience) ------ -------- ------ ---- -------------- Las Vegas In-Home 13.0 Away-from-Home 3.5 21.4% 27.2% Total 16.6 ------------------------------------------------------------------- Los Angeles* In-Home 11.9 Away-from-Home 3.3 21.9% 28.1% Total 15.2 ------------------------------------------------------------------- Miami In-Home 15.5 Away-from-Home 5.9 27.5% 38.0% Total 21.3 ------------------------------------------------------------------- Minneapolis In-Home 22.6 Away-from-Home 7.9 26.0% 35.1% Total 30.5 ------------------------------------------------------------------- New York** In-Home 22.6 Away-from-Home 11.0 32.7% 48.6% Total 33.7 ------------------------------------------------------------------- Philadelphia In-Home 17.9 Away-from-Home 8.0 30.8% 44.6% Total 25.9 ------------------------------------------------------------------- Phoenix In-Home 13.9 Away-from-Home 4.1 22.7% 29.3% Total 18.0 ------------------------------------------------------------------- Pittsburgh In-Home 24.1 Away-from-Home 8.2 25.4% 34.1% Total 32.4 ------------------------------------------------------------------- Portland, OR In-Home 15.3 Away-from-Home 3.7 19.2% 23.8% Total 19.0 ------------------------------------------------------------------- Sacramento In-Home 16.6 Away-from-Home 5.0 23.0% 29.8% Total 21.6 ------------------------------------------------------------------- Salt Lake City In-Home 8.3 Away-from-Home 1.6 16.5% 19.7% Total 10.0 ------------------------------------------------------------------- San Antonio In-Home 18.3 Away-from-Home 3.0 14.1% 16.4% Total 21.3 ------------------------------------------------------------------- CBS Sports 2010 NFL AFC Jets-Colts Championship Audience Men Aged 18-49, January 24, 2010 % % Lift Away- (% of increase from- over in-home Market Location Rating Home audience) ------ -------- ------ ---- ------------- San Diego In-Home 16.9 Away-from-Home 7.2 29.9% 42.7% Total 24.1 ------------------------------------------------------------------- San Francisco*** In-Home 12.7 Away-from-Home 4.5 26.2% 35.6% Total 17.3 ------------------------------------------------------------------- Seattle In-Home 14.9 Away-from-Home 5.7 27.7% 38.2% Total 20.5 ------------------------------------------------------------------- St. Louis In-Home 22.4 Away-from-Home 6.5 22.5% 29.0% Total 28.9 ------------------------------------------------------------------- Tampa In-Home 18.4 Away-from-Home 6.9 27.4% 37.7% Total 25.4 ------------------------------------------------------------------- Washington, DC In-Home 21.9 Away-from-Home 5.2 19.2% 23.7% Total 27.1 ------------------------------------------------------------------- *Includes Riverside-San Bernardino, a non-embedded market **Includes embedded markets (Nassau-Suffolk and Middlesex-Somerset-Union) ***Includes embedded market (San Jose) About Arbitron

    Arbitron Inc. is a media and marketing research firm serving the media - radio, television, cable, online radio and out-of-home - as well as advertisers and advertising agencies. Arbitron's core businesses are measuring network and local market radio audiences across the United States; surveying the retail, media and product patterns of local market consumers; and providing application software used for analyzing media audience and marketing information data. The company has developed the Portable People Meter, a new technology for media and marketing research.

    PPM ratings are based on audience estimates and are the opinion of Arbitron and should not be relied on for precise accuracy or precise representativeness of a demographic or market.

    Arbitron Forward-Looking Statements

    Statements in this release that are not strictly historical, including the statements regarding expectations for 2010 and any other statements regarding events or developments that we believe or anticipate will or may occur in the future, may be "forward-looking" statements. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These factors include, among other things, the current global economic recession and the upheaval in the credit markets and financial services industry, competition, our ability to develop and successfully market new products and technologies, our ability to successfully commercialize our Portable People Meter(TM) service, the growth rates and cyclicality of markets we serve, our ability to expand our business in new markets, our ability to successfully identify, consummate and integrate appropriate acquisitions, the impact of increased costs of data collection including a trend toward increasing incidence of cell phone-only households, litigation and other contingent liabilities including intellectual property matters, our compliance with applicable laws and regulations and changes in applicable laws and regulations, our ability to achieve projected efficiencies, cost reductions, sales growth and earnings, and international economic, political, legal and business factors. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2008 Annual Report on Form 10-K. These forward-looking statements speak only as of the date of this release and the Company does not assume any obligation to update any forward-looking statement.

    Photo: http://www.newscom.com/cgi-bin/prnh/20100201/NY47387-a
    http://www.newscom.com/cgi-bin/prnh/20100201/NY47387-b
    AP PhotoExpress Network: PRN16,17 Arbitron Inc.

    CONTACT: Jessica Benbow of Arbitron Inc., +1-410-312-8363,
    jessica.benbow@arbitron.com

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

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