Companies news of 2010-03-01 (page 1)

  • Providence Service Corporation to Report Fourth Quarter and Year End 2009 Results on...
  • KKR Financial Holdings LLC Announces Fourth Quarter and Full Year 2009 Financial Results
  • China-Biotics, Inc. Inaugurated the Commercial Production of its New Production Facility
  • WorldHeart Reports 2009 Financial Results
  • Questcor Reports Solid Fourth Quarter Results-Paid commercial Acthar prescriptions for MS...
  • Amerigroup Launches Long-Term Care Services in Tennessee
  • BioSpecifics Technologies Corp. to Present at Cowen and Company 30th Annual Health Care...
  • Covanta Holding Corporation Announces Meeting and Record Dates for Its 2010 Annual Meeting
  • The Hanover's Chief Executive Officer Enters Into Pre-Arranged Stock Trading Plan
  • Anadys Pharmaceuticals to Present at the Cowen and Company Healthcare Conference
  • Providence Service Corporation Expects Record 2009 Fourth Quarter and Year Ahead of...
  • Universal Truckload Services, Inc. Announces Filing of S-3 Shelf Registration Statement
  • ONEOK, Inc. and ONEOK Partners to Participate in UBS Natural Gas, Electric Power and Coal...
  • AMERISAFE Announces 2009 Fourth Quarter and Year-End ResultsAnnounces $25 million share...
  • China-Biotics, Inc. Appointed Grayling as Strategic Investor Relations Advisor
  • Sutor Technology Group Limited to Attend Rodman & Renshaw Annual China Investment...
  • Chefs of Local Senior Living Communities Compete for Ultimate Chef America Title; Event...
  • Carrier Source Inks Master Agent Agreement With New Edge Networks
  • Tractor Supply Company Initiates Quarterly Cash Dividend Program For First Time In Company...
  • Legend Media to Present at the Rodman & Renshaw Annual China Investment Conference
  • ATS Medical Announces Fourth Quarter and Full Year 2009 Results-- Fourth quarter 2009...
  • Media Alert - World Energy and CMTA to Host Webinar: "Senate Bill 695: Competition in the...
  • Onyx Pharmaceuticals to Present at the Cowen and Company 30th Annual Health Care...
  • Cenveo Announces Conference Call for Fourth Quarter and Year-End Results
  • Landstar to Participate in Raymond James' 31st Annual Institutional Investors Conference...
  • McGraw-Hill Education Solutions Nominated for Two 2010 CODiE AwardsGradeGuru.com Nominated...
  • Ralphs Grocery Company Fundraising Campaign to Benefit Children's Hospitals
  • Warner Chilcott to Present at the RBC Capital Markets Healthcare Conference
  • Cardinal Pipeline Signs Contracts to Serve North Carolina Natural Gas Growth



    Providence Service Corporation to Report Fourth Quarter and Year End 2009 Results on Wednesday, March 10th After the Market Closes

    TUCSON, Ariz., March 1 /PRNewswire-FirstCall/ -- The Providence Service Corporation today announced that it is scheduled to report financial results for its fourth quarter and year ended December 31, 2009 on Wednesday, March 10, 2010, after the market closes.

    Providence will hold a conference call at 11:00 a.m. EST (9:00 a.m. Arizona and MST and 8:00 a.m. PST) Thursday, March 11, 2010, to discuss its financial results and corporate developments. Interested parties are invited to listen to the call live over the Internet at http://investor.provcorp.com/ or http://www.earnings.com/. The call is also available by dialing (888) 679-8018, or for international callers (617) 213-4845 and by using the passcode 49097228. Participants may pre-register for the call at https://www.theconferencingservice.com/prereg/key.process?key=PLAVTX3GE. Pre-registrants will be issued a pin number to use when dialing into the live call which will provide quick access to the conference by bypassing the operator upon connection.

    A replay of the teleconference will be available on http://investor.provcorp.com/ and http://www.earnings.com/. A replay will also be available until March 18, 2010 by dialing (888) 286-8010 or (617) 801-6888, and using passcode 41711418.

    About Providence

    The Providence Service Corporation, through its owned and managed entities, provides home and community based social services and non-emergency transportation services management to government sponsored clients under programs such as welfare, juvenile justice, Medicaid and corrections. Providence does not own or operate beds, treatment facilities, hospitals or group homes, preferring to provide services in the client's own home or other community setting. The Company provides a range of services through its direct and managed entities to over 74,000 clients through 843 active contracts at September 30, 2009, with an estimated 7.3 million individuals eligible to receive the Company's non-emergency transportation services. Combined, the Company has a nearly $1 billion book of business including managed entities.

    Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "demonstrate," "expect," "estimate," "anticipate," "should" and "likely" and similar expressions identify forward-looking statements. In addition, statements that are not historical should also be considered forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. Such forward-looking statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. These factors include, but are not limited to the global credit crisis, capital market conditions, and other risks detailed in Providence's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2008. Providence is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.

    The Providence Service Corporation

    CONTACT: Fletcher McCusker - Chairman and CEO, or Kate Blute - Director
    of Investor and Public Relations, both of The Providence Service Corporation,
    +1-520-747-6600, or Alison Ziegler of Cameron Associates, +1-212-554-5469, for
    The Providence Service Corporation

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




    KKR Financial Holdings LLC Announces Fourth Quarter and Full Year 2009 Financial Results

    SAN FRANCISCO, March 1 /PRNewswire-FirstCall/ -- KKR Financial Holdings LLC ("KFN" or the "Company") today announced its results for the fourth quarter and year ended December 31, 2009.

    Fourth Quarter and Full Year 2009 Highlights -- Net income for the fourth quarter ended December 31, 2009 of $2.1 million, or $0.01 per diluted common share, as compared to net loss for the fourth quarter ended December 31, 2008 of $1.2 billion, or a loss of $7.85 per diluted common share. Net income for the year ended December 31, 2009 of $76.9 million, or $0.50 per diluted common share, as compared to net loss for the year ended December 31, 2008 of $1.1 billion, or a loss of $7.69 per diluted common share. -- Book value per common share of $7.37 as of December 31, 2009 as compared to book value per common share of $7.01 and $4.40 as of September 30, 2009 and December 31, 2008, respectively.

    KFN's fourth quarter 2009 results reflect net investment income of $80.1 million, partially offset by other losses of $62.9 million and non-investment expenses of $15.0 million. Other losses totaling $62.9 million primarily consist of the following: (i) net realized and unrealized loss on investments in residential mortgage-backed securities, residential mortgage loans and residential mortgage-backed securities issued, at estimated fair value, totaling $62.5 million, primarily attributable to charges the Company is recognizing on the value of its residential mortgage-backed securities portfolio; (ii) net realized and unrealized loss on investments totaling $6.7 million, consisting of lower of cost or market adjustments on loans transferred to held for sale of $12.1 million and other-than-temporary impairment charges on securities of $3.9 million, partially offset by net realized and unrealized gains from investments of $9.3 million; and (iii) net realized and unrealized gain from derivative positions and foreign exchange totaling $2.1 million.

    For the year ended December 31, 2009, KFN reported net investment income of $243.6 million, partially offset by other losses of $96.3 million and non-investment expenses of $70.1 million. Other losses totaling $96.3 million consist of the following: (i) net realized and unrealized loss on investments in residential mortgage-backed securities, residential mortgage loans and residential mortgage-backed securities issued, at estimated fair value, totaling $107.0 million; (ii) net realized and unrealized loss on investments totaling $92.3 million; (iii) net realized and unrealized gain from derivative positions and foreign exchange totaling $60.9 million; and (iv) net gain on restructuring and extinguishment of debt totaling $30.8 million.

    Investment Portfolio

    The Company's corporate debt investment portfolio, consisting of corporate loans and high yield bonds, had an aggregate par balance of $8.2 billion and an aggregate estimated fair value of $7.2 billion as of December 31, 2009. In comparison, the par value of the Company's corporate debt investment portfolio totaled $9.7 billion with an estimated fair value of $5.7 billion as of December 31, 2008.

    As of December 31, 2009, the Company's corporate debt investments not held in its collateralized loan obligation ("CLO") subsidiaries had an aggregate par value of $759.6 million and an estimated fair value of $588.5 million. In comparison, the aggregate par value of the Company's investment portfolio not held in its CLO subsidiaries totaled $539.4 million with an estimated fair value of $196.7 million as of December 31, 2008.

    Liquidity

    As of December 31, 2009, the Company's unrestricted cash and cash equivalents totaled $97.1 million, as compared to $41.4 million as of December 31, 2008.

    On January 15, 2010, the Company issued $172.5 million of 7.50% convertible senior notes. The 7.50% convertible senior notes mature on January 15, 2017. Net proceeds from this offering, totaling $167.3 million, are expected to be used to repurchase or repay some or all of the Company's existing senior indebtedness with the remainder to be used for general corporate purposes. Since the closing of this transaction, the Company has repurchased approximately $95.2 million par amount of its 7.00% convertible notes due 2012 and has reduced borrowings outstanding under its senior secured credit facility from $175.0 million as of December 31, 2009 to $150.0 million.

    Shareholders' Equity and Book Value per Common Share

    The Company's shareholders' equity increased $0.5 billion from $0.7 billion as of December 31, 2008 to $1.2 billion as of December 31, 2009. The Company's book value per common share was $7.37 as of December 31, 2009, as compared to $4.40 as of December 31, 2008.

    Information for Investors: Conference Call and Webcast

    The Company will host a conference call and audio webcast to review its fourth quarter and year end 2009 results on March 1, 2010, at 5:00 p.m. EST. The conference call may be accessed by dialing (800) 218-2154 (Domestic) or (913) 312-9308 (International); a pass code is not required. A telephonic replay of the call will be available through March 15, 2010 by dialing (888) 203-1112 (Domestic) and (719) 457-0820 (International) / pass code 7428799. Supplemental materials that will be discussed during the call and the live audio web cast will be available in the Investor Relations section of the Company's website at http://www.kkr.com/kam/kfn_webcasts_presentations_and_important_documents.cfm. An audio replay of the web cast will be archived in the Investor Relations section of the Company's website.

    About KKR Financial Holdings LLC

    KKR Financial Holdings LLC is a publicly traded specialty finance company. KFN's core business strategy focuses on corporate debt throughout the capital structure with a particular emphasis on debt issued by large capitalization firms with broad geographic and product offerings. KFN executes its core business strategy through its majority-owned subsidiaries. KKR Financial Holdings LLC is externally managed by KKR Financial Advisors LLC, a wholly-owned subsidiary of Kohlberg Kravis Roberts & Co. (Fixed Income) LLC, which is a wholly-owned subsidiary of Kohlberg Kravis Roberts & Co. L.P. Additional information regarding KKR Financial Holdings LLC is available at http://www.kkr.com/.

    "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements related to the Company's use of proceeds of certain financing transactions. These forward-looking statements are based on information available to the Company as of the date of this press release and actual results may differ. These forward-looking statements involve known and unknown risks, uncertainties and other factors beyond the Company's control. Any forward-looking statements speak only as of the date of this press release and the Company expressly disclaims any obligation to update or revise any of them to reflect actual results, any changes in expectations or any change in events. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. For additional information concerning risks, uncertainties and other factors that may cause actual results to differ from those anticipated in the forward-looking statements, and risks to the Company's business in general, please refer to the Company's SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2009, filed with the SEC on March 1, 2010.

    Schedule I KKR Financial Holdings LLC CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Amounts in thousands, except per share information) For the For the three three For the For the months months year year ended ended ended ended December 31, December 31, December 31, December 31, 2009 2008 2009 2008 ---- ---- ---- ---- Net investment income (loss): Loan interest income $112,461 $188,667 $477,044 $777,510 Securities interest income 20,957 36,761 94,762 145,865 Other interest income 95 2,442 919 25,213 -- ----- --- ------ Total investment income 133,513 227,870 572,725 948,588 Interest expense (48,462) (121,106) (268,087) (521,313) Interest expense to affiliates (4,932) 23,018 (21,287) (43,301) Provision for loan losses - (471,488) (39,795) (481,488) --- -------- ------- -------- Net investment income (loss) 80,119 (341,706) 243,556 (97,514) ------ -------- ------- ------- Other loss: Net realized and unrealized loss on investments (6,711) (745,500) (92,287) (804,754) Net realized and unrealized gain (loss) on derivatives and foreign exchange 2,077 (72,851) 60,908 (141,319) Net realized and unrealized loss on residential mortgage-backed securities, residential mortgage loans, and residential mortgage-backed securities issued, carried at estimated fair value (62,483) (34,248) (107,028) (48,899) Net realized and unrealized gain on securities sold, not yet purchased 662 27,405 3,582 50,297 Net gain on restructuring and extinguishment of debt - 6,205 30,836 26,486 Other income 3,564 3,413 7,714 11,352 ----- ----- ----- ------ Total other loss (62,891) (815,576) (96,275) (906,837) ------- -------- ------- -------- Non-investment expenses: Related party management compensation 8,191 7,313 44,323 36,670 General, administrative and directors expenses 3,476 4,943 10,393 19,038 Loan servicing 1,844 2,210 7,961 9,444 Professional services 1,468 3,835 7,384 8,098 ----- ----- ----- ----- Total non-investment expenses 14,979 18,301 70,061 73,250 ------ ------ ------ ------ Income (loss) from continuing operations before income tax (expense) benefit 2,249 (1,175,583) 77,220 (1,077,601) Income tax (expense) benefit (133) 9 (284) (107) ---- --- ---- ---- Income (loss) from continuing operations 2,116 (1,175,574) 76,936 (1,077,708) Income from discontinued operations - - - 2,668 --- --- --- ----- Net income (loss) $2,116 $(1,175,574) $76,936 $(1,075,040) ====== =========== ======= =========== Net income (loss) per common share: Basic Income (loss) per share from continuing operations $0.01 $(7.85) $0.50 $(7.71) ===== ====== ===== ====== Income per share from discontinued operations $- $- $- $0.02 === === === ===== Net income (loss) per share $0.01 $(7.85) $0.50 $(7.69) ===== ====== ===== ====== Diluted Income (loss) per share from continuing operations $0.01 $(7.85) $0.50 $(7.71) ===== ====== ===== ====== Income per share from discontinued operations $- $- $- $0.02 === === === ===== Net income (loss) per share $0.01 $(7.85) $0.50 $(7.69) ===== ====== ===== ====== Weighted-average number of common shares outstanding: Basic 156,997 149,708 153,756 140,027 ======= ======= ======= ======= Diluted 156,997 149,708 153,756 140,027 ======= ======= ======= ======= Schedule II KKR Financial Holdings LLC CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Amounts in thousands, except share information) December 31, December 31, 2009 2008 ---- ---- Assets Cash and cash equivalents $97,086 $41,430 Restricted cash and cash equivalents 342,706 1,233,585 Securities available-for-sale, $740,949 and $553,441 pledged as collateral as of December 31, 2009 and December 31, 2008, respectively 755,686 555,965 Corporate loans, net of allowance for loan losses of $237,308 and $480,775 as of December 31, 2009 and December 31, 2008, respectively 5,617,925 7,246,797 Corporate loans held for sale 925,718 324,649 Residential mortgage-backed securities, at estimated fair value, $47,572 and $102,814 pledged as collateral as of December 31, 2009 and December 31, 2008, respectively 47,572 102,814 Residential mortgage loans, at estimated fair value 2,097,699 2,620,021 Equity investments, at estimated fair value, $110,812 and $5,287 pledged as collateral as of December 31, 2009 and December 31, 2008, respectively 120,269 5,287 Derivative assets 15,784 73,869 Interest and principal receivable 98,313 116,788 Reverse repurchase agreements 80,250 88,252 Other assets 100,997 105,625 ------- ------- Total assets $10,300,005 $12,515,082 =========== =========== Liabilities Collateralized loan obligation senior secured notes $5,650,406 $7,487,611 Collateralized loan obligation junior secured notes to affiliates 533,786 655,313 Collateralized loan obligation junior secured notes 17,310 - Senior secured credit facility 175,000 275,633 Convertible senior notes 275,800 291,500 Junior subordinated notes 283,517 288,671 Residential mortgage-backed securities issued, at estimated fair value 2,034,772 2,462,882 Accounts payable, accrued expenses and other liabilities 7,240 60,124 Accrued interest payable 25,297 61,119 Accrued interest payable to affiliates 2,911 3,987 Related party payable 3,367 2,876 Securities sold, not yet purchased 77,971 90,809 Derivative liabilities 45,970 171,212 ------ ------- Total liabilities 9,133,347 11,851,737 --------- ---------- Shareholders' Equity Preferred shares, no par value, 50,000,000 shares authorized and none issued and outstanding at December 31, 2009 and December 31, 2008 - - Common shares, no par value, 500,000,000 shares authorized, and 158,359,757 and 150,881,500 shares issued and outstanding at December 31, 2009 and December 31, 2008, respectively - - Paid-in-capital 2,563,634 2,550,849 Accumulated other comprehensive income (loss) 152,728 (268,782) Accumulated deficit (1,549,704) (1,618,722) ---------- ---------- Total shareholders' equity 1,166,658 663,345 --------- ------- Total liabilities and shareholders' equity $10,300,005 $12,515,082 =========== =========== Investor Contact Laurie Poggi 415-315-3718 Media Contact Peter McKillop/Kristi Huller media@kkr.com 212-750-8300

    KKR Financial Holdings LLC

    CONTACT: Investors, Laurie Poggi, +1-415-315-3718, or Media, Peter
    McKillop, or Kristi Huller, all of KKR Financial Holdings LLC,
    +1-212-750-8300, media@kkr.com

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




    China-Biotics, Inc. Inaugurated the Commercial Production of its New Production Facility

    SHANGHAI, March 1 /PRNewswire-Asia-FirstCall/ -- China-Biotics, Inc. ("China-Biotics," the "Company") , the leading developer, manufacturer and distributor of probiotics products in China, today announced that its new bulk additive production facility has commenced commercial production in late February.

    The new state-of-the-art production facility, located in Shanghai Qingpu Industrial Park, occupies a total of 54 acres of land with a 20,000 square-meter production area featuring a designed total production capacity of 150 tons annually and a world-class fermentation workshop equipped with sophisticated control system and customized design for its proprietary fermentation technology.

    In late 2007, the Company began the construction of this facility. Upon completion of the building construction and equipment installation, testing and trial production started in July and October 2009, respectively. China-Biotics received its production permit from the local technology supervision bureau in early February 2010. The Company expects to produce 5 tons by the end of March, and the capacity utilization will gradually reach a run rate of 75 tons per year by December 2010.

    Mr. Jinan Song, Chairman and Chief Executive Officer of China-Biotics, commented, "We are very excited about the commencement of our Qingpu facility, with the advanced technology in probiotics production and large capacity. Our volume and quality can meet the demand from large institutional customers from both China and overseas markets. We believe the Qingpu facility will provide an additional engine of growth, beyond our widely acclaimed dietary supplement produced in our existing Pudong plant."

    About China-Biotics

    China-Biotics, Inc. ("China-Biotics," "the Company"), a leading manufacturer of biotechnology products and supplements, engages in the research, development, marketing and distribution of probiotics dietary supplements in China. Through its wholly owned subsidiary, Shanghai Shining Biotechnology Co., Ltd., the Company develops and produces its proprietary product portfolio including live microbial nutritional supplements under the "Shining" brand. Currently, the products are sold OTC through large distributors to pharmacies and supermarkets in Shanghai, Jiangsu, and Zhejiang province. In February 2010, China-Biotics began its commercial production in China's largest probiotics production facility to meet growing demand in China. For more information, please visit http://www.chn-biotics.com/ .

    Safe Harbor Statement

    The information in this release contains forward-looking statements which involve risks and uncertainties, including statements regarding the Company's capital needs, business strategy and expectations. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements, which may be identified by terminology such as "may," "should," "will," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "forecast," "project," or "continue," the negative of such terms or other comparable terminology. Readers should not rely on forward-looking statements as predictions of future events or results. Any or all of the Company's forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions, risks and uncertainties and other factors which could cause actual events or results to be materially different from those expressed or implied in the forward-looking statements. In evaluating these statements, readers should consider various factors, including the risks described in "Item 1A. Risk Factors" beginning on page 15 and elsewhere in the Company's 2009 Annual Report on Form 10-K. These factors may cause the Company's actual results to differ materially from any forward-looking statement. In addition, new factors emerge from time to time and it is not possible for the Company to predict all factors that may cause actual results to differ materially from those contained in any forward-looking statements. The Company disclaims any obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this document, except as required by applicable law.

    For more information, please contact: Travis Cai Chief Financial Officer China-Biotics, Inc. Email: traviscai@chn-biotics.com Kevin Theiss Grayling Tel: +1-646-284-9409 Email: kevin.theiss@grayling.com

    China-Biotics, Inc.

    CONTACT: Travis Cai, CFO of China-Biotics, Inc.,
    traviscai@chn-biotics.com; or Kevin Theiss, Grayling, +1-646-284-9409,
    kevin.theiss@grayling.com

    Web site: http://www.chn-biotics.com/




    WorldHeart Reports 2009 Financial Results

    SALT LAKE CITY, March 1 /PRNewswire-FirstCall/ -- ("WorldHeart"; Nasdaq: WHRT) - World Heart Corporation, a developer of mechanical circulatory systems, today reported the net loss for the year ended December 31, 2009 of $16.7 million, or a $1.26 loss per basic and diluted share, compared to a $25.3 million net loss, or a $4.37 loss per basic and diluted share in 2008. The decrease was primarily the result of one-time, non-cash clinical and marketing expenses of $6.5 million and one-time debt inducement expense of $3.9 million that we recognized in 2008 related to warrants issued to a strategic partner and the subsequent conversion of debt to common stock. The decrease in clinical and marketing expenses and the debt inducement expense in 2009 was offset by increases in research and development expenses as well as selling, general and administrative expenses. These increased costs are associated with the preparation for the Levacor(TM) VAD Bridge-to-Transplant (BTT) clinical study which received unconditional approval from the U.S. Food and Drug Administration in January 2010.

    Revenues were $5,000 for the year ended December 31, 2009, as compared to $1.7 million for the year ended December 31, 2008. The decrease in revenue from 2008 to 2009 is the result of our November 2006 decision to suspend our commercial efforts with respect to the Novacor LVAS and focus our efforts and resources in the development of the Levacor VAD. In 2007 and 2008, we made the Novacor LVAS available to medical centers only until our inventory was depleted, which occurred in mid-2008. Additionally, we did not have any SPUS (Segmented Poly Urethane Solution) revenue in 2009 as compared to $785,000 in 2008. The decrease is a result of this revenue being associated with one customer who placed no orders in 2009.

    At December 31, 2009 our balance sheet reflected $6.1 million in cash, cash equivalents and marketable investment securities, which is exclusive of the $7.1 million in net proceeds from the January 2010 private placement. This compares to $20.7 million in cash and cash equivalents at December 31, 2008.

    "With our unconditional approval for the BTT clinical study in January coupled with the financing we recently completed, we are well positioned to move our Levacor VAD program forward. We are excited to offer the world's only fully magnetically levitated, bearingless, implantable centrifugal pump to heart failure patients in the U.S.," added Mr. J. Alex Martin, President and Chief Executive Officer.

    About WorldHeart

    WorldHeart is a developer of mechanical circulatory support systems headquartered in Salt Lake City, Utah. World Heart's registered office is in Delaware, USA.

    Forward-Looking Statements

    Any forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include all statements relating to the proposed use of proceeds, of the private placement, increase in shareholder value, access to investment capital, and the growth of WorldHeart's overall business, as well as other statements that can be identified by the use of forward-looking language, such as "believes," "feels," "expects," "may," "will," "should," "seeks," "plans," "anticipates," or "intends" or the negative of those terms, or by discussions of strategy or intentions. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including without limitation: WorldHeart's need for additional capital in the future; risks in product development, regulatory approvals and market acceptance of and demand for WorldHeart's products; risks involved in the Levacor VAD Bridge-to-Transplant (BTT) clinical study; and other risks detailed in WorldHeart's filings with the U.S. Securities and Exchange Commission, including without limitation its Annual Report on Form 10-K for the year ended December 31, 2008 and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2009, June 30, 2009 and September 30, 2009.

    http://www.worldheart.com/ WORLD HEART CORPORATION Condensed Consolidated Balance Sheets (United States Dollars) (Unaudited) December 31, 2009 December 31, 2008 ----------------- ----------------- ASSETS Current assets Cash and cash equivalents $5,562,670 $20,703,724 Marketable investment securities 499,417 - Trade and other receivables, net 18,907 322,548 Inventory, net 341,614 - Prepaid expenses and other current assets 271,966 458,294 ------- ------- 6,694,574 21,484,566 Long-term assets Property and equipment, net 879,833 651,572 Intangible assets, net - 107,916 Other long-term assets 36,360 156,360 ------ ------- 916,193 915,848 ------- ------- Total assets $7,610,767 $22,400,414 ========== =========== LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities $1,522,199 $1,388,675 Accrued compensation 645,306 897,086 Note payable - short term 102,877 - Deferred rent 18,967 3,671 ------ ----- 2,289,349 2,289,432 --------- --------- Long-term liabilities Note payable - long term 580,123 - Other long term liabilities 82,309 - ------ --- Total liabilities 2,951,781 2,289,432 --------- --------- Commitments and Contingencies Shareholders' equity Common stock, no par value, 13,312,265 shares issued and 325,279,751 325,087,252 Additional paid-in-capital 18,389,635 17,323,629 Cumulative other comprehensive loss (6,285,577) (6,285,577) Accumulated deficit (332,724,823) (316,014,322) ------------ ------------ Total shareholders' equity 4,658,986 20,110,982 --------- ---------- Total liabilities and shareholders' equity $7,610,767 $22,400,414 ========== =========== WORLD HEART CORPORATION Condensed Consolidated Statements of Operations (United States Dollars) Year Ended December 31, ----------------------- 2009 2008 ---- ---- Revenue $4,765 $1,732,143 Cost of goods sold (212,975) (992,197) -------- -------- Gross profit (loss) (208,210) 739,946 -------- ------- Operating expenses Research and development 10,111,152 9,047,531 Selling, general and administrative 5,682,295 4,752,372 Clinical and marketing support - 6,478,619 Restructuring costs 577,666 131,431 Amortization of intangibles 107,916 191,424 ------- ------- Total operating expenses 16,479,029 20,601,377 ---------- ---------- Operating loss (16,687,239) (19,861,431) Other income (expenses) (23,262) (5,455,353) ------- ---------- Net loss $(16,710,501) $(25,316,784) ============ ============ Weighted average number of common shares outstanding: basic and diluted 13,273,462 5,798,940 ========== ========= Basic and diluted loss per common share $(1.26) $(4.37) ====== ======

    World Heart Corporation

    CONTACT: Mr. Morgan R. Brown, Executive Vice President and Chief
    Financial Officer of World Heart Corporation, +1-801-303-4361

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




    Questcor Reports Solid Fourth Quarter Results-Paid commercial Acthar prescriptions for MS up 223% over prior year quarter- -Paid commercial IS prescriptions up 56% sequentially- -Received initial set of nephrotic syndrome prescriptions- -Fourth quarter 2009 net income per share $0.13 on $25.9 million in net sales- -2.5 million common shares repurchased during fourth quarter- -Conference call today at 5:00 PM ET-

    UNION CITY, Calif., March 1 /PRNewswire-FirstCall/ -- Questcor Pharmaceuticals, Inc. today reported financial results for the fourth quarter and year ended December 31, 2009. The Company's financial performance in the fourth quarter of 2009 was driven primarily by:

    -- a 223% increase in the number of new paid Acthar commercial prescriptions for the treatment of multiple sclerosis (MS) exacerbations versus the fourth quarter of 2008, -- a sequential 56% increase in new paid Acthar commercial prescriptions for the treatment of infantile spasms (IS), and -- lower sequential Medicaid usage.

    In addition to the financial improvement in the quarter, the Company also received an encouraging initial set of Acthar prescriptions for the treatment of nephrotic syndrome (NS). Also, during the fourth quarter, the FDA accepted for review Questcor's supplemental New Drug Application (sNDA) filing which seeks approval for an indication for Acthar in the treatment of IS.

    Net sales totaled $25.9 million for the quarter ended December 31, 2009 compared to $13.9 million for the quarter ended September 30, 2009, and $27.0 million for the fourth quarter of 2008. Net income for the fourth quarter of 2009 was $8.4 million, or $0.13 per diluted common share compared to $1.2 million, or $0.02 per diluted common share for the third quarter of 2009, and $16.2 million, or $0.24 per diluted common share for the fourth quarter of 2008. An additional $1.2 million in sales reserves was recorded during the fourth quarter of 2009 for retroactive Tricare rebates. Significantly higher sales reserves adjustments reduced net sales and operating income for the third quarter of 2009 by $4.6 million. Tax benefits resulting from the reversal of a valuation allowance positively affected net income in the fourth quarter of 2008 by $4.4 million.

    Net sales totaled $88.3 million for the year ended December 31, 2009, compared with $95.2 million for 2008. Net income for 2009 was $26.6 million, or $0.40 per diluted common share compared with net income applicable to common shareholders of $35.3 million, or $0.49 per diluted common share for 2008. The 2008 earnings were impacted by a one-time net tax benefit of $5.2 million and a deemed dividend of $5.3 million.

    "We are making excellent progress on all of Questcor's top priorities," said Don M. Bailey, President and CEO. "Our fourth quarter financial performance improved significantly on a sequential basis. Questcor's sales in the MS market showed marked growth and there are preliminary indications that Acthar may also begin to be adopted in the NS market, which is much larger than either the IS or MS markets. In addition, IS prescriptions and payer mix both improved during the fourth quarter from a very weak third quarter. To date, we are seeing little or no impact on Acthar sales in the IS market from the September 2009 introduction of Sabril (vigabatrin)."

    IS, MS, and NS Sales

    During the fourth quarter of 2009, Questcor shipped 1,626 vials of Acthar compared to third quarter 2009 shipments of 1,354 vials and fourth quarter 2008 shipments of 1,510 vials. Because Acthar prescriptions are filled at specialty pharmacies, the Company does not receive complete information regarding either the number of prescriptions or the number of vials by therapeutic area for all of the patients being treated with Acthar. However, Questcor is able to monitor historic trends in payer mix for new Acthar prescriptions based on data it receives from its reimbursement support center. Questcor estimates that approximately 90% of new Acthar prescriptions are processed by this support center, but that very few refill prescriptions are processed at this center. The following tables show the number of prescriptions shipped by payer category for each of three therapeutic areas for those new prescriptions processed by the Questcor support center:

    Multiple Sclerosis New Prescriptions ------------------------------------ Paid/Commercial Medicaid Tricare/VA --------------- -------- ---------- Q108 24 5 0 Q208 35 1 0 Q308 50 5 1 Q408 66 3 2 Total 2008 175 14 3 Q109 78 5 3 Q209 125 11 6 Q309 141 14 5 Q409 213 10 5 Total 2009 557 40 19 Infantile Spasms New Prescriptions ---------------------------------- Paid/Commercial Medicaid Tricare/VA --------------- -------- ---------- Q108 98 38 2 Q208 114 47 3 Q308 113 67 3 Q408 103 56 3 Total 2008 428 208 11 Q109 104 70 5 Q209 93 63 5 Q309 61 55 3 Q409 95 40 5 Total 2009 353 228 18 Nephrotic Syndrome New Prescriptions ------------------------------------ Paid/Commercial Medicaid Tricare/VA --------------- -------- ---------- Q109 1 0 0 Q209 3 0 1 Q309 2 0 0 Q409 14 2 1 Total 2009 20 2 2 Note: Historical trend information is not necessarily indicative of future results. The total number of vials associated with an individual prescription varies by the condition being treated and by patient.

    "As the above tables illustrate, our efforts in MS continue to show that the use of Acthar is expanding," commented Steve Cartt, Executive Vice President. "Our initiatives to educate MS specialists about the treatment benefits of Acthar have resulted in a tripling in MS prescriptions year over year."

    "In addition, spontaneous IS prescriptions during the fourth quarter rebounded to 140 new paid prescriptions from a low level of 119 in the third quarter," noted Mr. Cartt. "If we are able to receive approval from the FDA to market Acthar for the treatment of IS, we may be able to expand our sales in this therapeutic area."

    "The modest set of prescriptions for NS in the fourth quarter was an unexpected development at this stage in our efforts to generate sales in this market," added Mr. Cartt. "NS is a devastating kidney disorder which leads to end-stage renal disease (ESRD). NS is an on-label indication for Acthar and we are working to generate more clinical data to further support the effectiveness of Acthar in the treatment of this disease."

    Sales Reserves--Medicaid, Tricare and VA Adjustments

    As required by federal regulations, the Company provides rebates to state Medicaid programs for Acthar dispensed to Medicaid patients. The Medicaid rebate portion of sales reserves for the fourth quarter of 2009 was $8.4 million or 22% of 2009 fourth quarter gross sales. While total new commercially paid Acthar prescriptions for the treatment of IS processed through the Company's reimbursement support center increased to 95 in the fourth quarter from 61 in the third quarter, the number of Medicaid-reimbursed IS prescriptions dropped 27% sequentially.

    The Department of Defense (DOD) operates a prescription drug program through its Tricare Management Administration (Tricare). As a result of uncertainties in an on-going dispute between the pharmaceutical industry and the DOD over Tricare rebate regulations, Questcor recorded a sales reserve related to a portion of Tricare-claimed rebates during the third quarter of 2009. Due to recent developments in that dispute, Questcor recorded an additional $1.2 million in sales reserves during the fourth quarter of 2009 for the remaining potential Tricare-claimed rebates. Effective January 1, 2010, Questcor established new prices for Acthar purchased by Tricare and Veterans Administration (VA) medical centers. Additionally, Questcor has removed uncertainty regarding Tricare rebate liabilities going forward. The new agreement with Tricare does not diminish Questcor's rights in regards to the fully reserved 2008-2009 liability. Any sales in 2010 to Tricare or the VA will represent an increase from the negligible net sales to these customers in 2009.

    Regulatory Activity

    Acthar is currently approved in the U.S. for the treatment of MS exacerbations, nephrotic syndrome and many other conditions. Acthar is not approved in the U.S. for the treatment of IS, a potentially life-threatening disorder that typically begins in the first year of life. However, pursuant to guidelines published by the American Academy of Neurology and the Child Neurology Society, many child neurologists use Acthar to treat infants afflicted with IS.

    On December 23, 2009 the FDA accepted for review Questcor's supplemental New Drug Application (sNDA) seeking approval to market Acthar for the treatment of infantile spasms. The FDA has notified Questcor that an Advisory Committee Meeting of independent experts will be held to discuss the approval and use of Acthar in infantile spasms. The FDA has also notified Questcor that it has set a PDUFA goal date of June 11, 2010, but there is no assurance that this date will not be delayed. Approval of the IS indication would allow Questcor to promote the use of Acthar in treating IS to child neurologists.

    Previously, the FDA granted Orphan Designation to Acthar for the treatment of IS. As a result of this Orphan Designation, if Questcor is successful in obtaining FDA approval for the IS indication, Questcor believes that it will also qualify for a seven-year exclusivity period during which the FDA is prohibited from approving any other adrenocorticotropic hormone (ACTH) formulation for IS unless the other formulation is demonstrated to be clinically superior to Acthar.

    Cash, Accounts Receivable and Share Repurchase Program

    At February 26, 2010, Questcor's cash, cash equivalents and short-term investments totaled approximately $81 million, and accounts receivable totaled approximately $9 million.

    During the fourth quarter, the Company repurchased 2.5 million shares of its common stock at a total cost of $9.9 million. In the last two years, Questcor has spent $67.0 million for the repurchase of 14.5 million common and preferred shares.

    As of December 31, 2009, Questcor had 61.7 million common shares outstanding, with 5.1 million shares remaining under its common share repurchase program.

    Conference Call Details

    The Company will host a conference call today to discuss these results at 5:00 p.m. ET. Don Bailey, President and Chief Executive Officer; Steve Cartt, Executive Vice President and Chief Business Officer; Dr. David Young, Chief Scientific Officer; Dave Medeiros, Senior Vice President, Pharmaceutical Operations; Dr. Jason Zielonka, Senior Vice President and Chief Medical Officer; and Gary Sawka, Senior Vice President, Finance and Chief Financial Officer will host the call.

    To participate in the live call by telephone, please dial 877-941-2928 from the U.S. or 480-629-9724 from outside the U.S. Participants are asked to call the above numbers 5-10 minutes prior to the starting time. The call will also be webcast live at http://www.questcor.com/. An audio replay of the call will be available for 7 days following the call. This replay can be accessed by dialing 800-406-7325 for domestic callers and 303-590-3030 for international callers, both using passcode 4221516#. An archived webcast will also be available at http://www.questcor.com/.

    About Questcor

    Questcor Pharmaceuticals, Inc. is a pharmaceutical company that markets H.P. Acthar® Gel (repository corticotropin injection). H.P. Acthar Gel ("Acthar") is an injectable drug that is approved for the treatment of certain disorders, including the treatment of exacerbations associated with multiple sclerosis ("MS") and to induce a diuresis or a remission of proteinuria in the nephrotic syndrome without uremia of the idiopathic type or that is due to lupus erythamatosus. In addition, Acthar is not indicated for, but is used in treating patients with infantile spasms ("IS"), a rare form of refractory childhood epilepsy, and opsoclonus myoclonus syndrome, a rare autoimmune-related childhood neurological disorder. For more information, please visit http://www.questcor.com/.

    Note: Except for the historical information contained herein, this press release contains forward-looking statements that have been made pursuant to the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "if," "should," "forecasts," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions. Actual events or results may differ materially. Factors that could cause or contribute to such differences include, but are not limited to, the following:

    -- Questcor's ability to continue to successfully implement its Acthar-centric business strategy, including its expansion in the MS marketplace; -- FDA approval of and the market introduction of competitive products and our inability to market Acthar in IS prior to approval of IS as a labeled indication; -- Questcor's ability to operate within an industry that is highly regulated at both the Federal and state level; -- Regulatory changes or actions including Federal or State health care reform initiatives; -- Questcor's ability to accurately forecast the demand for its products; -- The gross margin achieved from the sale of its products; -- Questcor's ability to estimate the quantity of Acthar used by government entities and Medicaid-eligible patients; -- That the actual amount of rebates and chargebacks related to the use of Acthar by government entities, including the Department of Defense Tricare network, and Medicaid-eligible patients may differ materially from Questcor's estimates; -- Questcor's expenses and other cash needs for upcoming periods; -- The inventories carried by Questcor's distributors, specialty pharmacies and hospitals; -- Volatility in Questcor's monthly and quarterly Acthar shipments and end-user demand; -- Questcor's ability to obtain finished goods from its sole source contract manufacturers on a timely basis if at all; -- Questcor's ability to attract and retain key management personnel; -- Research and development risks, including risks associated with Questcor's sNDA for IS and its preliminary work in the area of nephrotic syndrome; -- Uncertainties regarding Questcor's intellectual property; -- The uncertainty of receiving required regulatory approvals in a timely way, or at all; and, -- Questcor's ability to identify product acquisition candidates and consummate transactions on terms acceptable to the Company. -- Other risks discussed in Questcor's annual report on Form 10-K for the year ended December 31, 2008 and other documents filed with the Securities and Exchange Commission.

    The risk factors and other information contained in these documents should be considered in evaluating Questcor's prospects and future financial performance.

    Questcor undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

    For more information, please visit http://www.questcor.com/ or http://www.acthar.com/. Questcor Pharmaceuticals, Inc. Consolidated Statements of Income (In thousands, except per share amounts) Three Months Ended Years Ended December 31, December 31, -------------- -------------- 2009 2008 2009 2008 ---- ---- ---- ---- Net sales $25,905 $27,018 $88,320 $95,248 Cost of sales (exclusive of amortization of purchased technology) 1,898 1,858 7,017 7,304 ----- ----- ----- ----- Gross profit 24,007 25,160 81,303 87,944 Gross margin 93% 93% 92% 92% Operating expenses: Selling, general and administrative 7,841 5,075 29,950 19,247 Research and development 2,662 2,511 9,653 10,614 Depreciation and amortization 121 124 480 503 --- --- --- --- Total operating expenses 10,624 7,710 40,083 30,364 ------ ----- ------ ------ Income from operations 13,383 17,450 41,220 57,580 Other income: Interest and other income, net 101 247 686 1,075 Gain on sale of product rights - 75 225 75 --- --- --- --- Total other income 101 322 911 1,150 --- --- --- ----- Income before income taxes 13,484 17,772 42,131 58,730 Income tax expense 5,063 1,530 15,502 18,198 ----- ----- ------ ------ Net income 8,421 16,242 26,629 40,532 Deemed dividend on Series A preferred stock - - - 5,267 --- --- --- ----- Net income applicable to common shareholders $8,421 $16,242 $26,629 $35,265 ====== ======= ======= ======= Net income per share applicable to common shareholders: Basic $0.13 $0.25 $0.41 $0.52 ===== ===== ===== ===== Diluted $0.13 $0.24 $0.40 $0.49 ===== ===== ===== ===== Shares used in computing net income per share applicable to common shareholders: Basic 63,086 65,135 64,196 67,761 ====== ====== ====== ====== Diluted 64,783 68,345 66,257 71,350 ====== ====== ====== ====== Questcor Pharmaceuticals, Inc. Consolidated Balance Sheets (In thousands, except share amounts) December 31, 2009 2008 ---- ---- ASSETS Current assets: Cash and cash equivalents $45,829 $13,282 Short-term investments 29,878 42,169 ------ ------ Total cash, cash equivalents and short-term investments 75,707 55,451 Accounts receivable, net of allowance for doubtful accounts of $77 and $62 at December 31, 2009 and 2008, respectively 14,833 10,418 Inventories, net 3,378 2,459 Prepaid income taxes - 3,316 Prepaid expenses and other current assets 1,162 1,101 Deferred tax assets 8,180 6,252 ----- ----- Total current assets 103,260 78,997 Property and equipment, net 407 450 Purchased technology, net 3,372 3,669 Goodwill 299 299 Deposits and other assets 710 710 Deferred tax assets 3,392 5,021 ----- ----- Total assets $111,440 $89,146 ======== ======= LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $12,921 $4,302 Accrued compensation 2,140 1,896 Sales-related reserves 14,922 11,825 Income taxes payable 477 - Other accrued liabilities 1,751 1,702 ----- ----- Total current liabilities 32,211 19,725 Lease termination and deferred rent liabilities and other non-current liabilities 1,226 1,529 ----- ----- Total liabilities 33,437 21,254 ------ ------ Shareholders' equity: Preferred stock, no par value, 7,500,000 shares authorized; none outstanding - - Common stock, no par value, 105,000,000 shares authorized; 61,726,609 and 65,970,653 shares issued and outstanding at December 31, 2009 and 2008, respectively 67,793 84,028 Retained earnings (accumulated deficit) 10,224 (16,405) Accumulated other comprehensive income (loss) (14) 269 --- --- Total shareholders' equity 78,003 67,892 ------ ------ Total liabilities and shareholders' equity $111,440 $89,146 ======== ======= Questcor Pharmaceuticals, Inc. Consolidated Statements of Cash Flows (In thousands) Years Ended December 31, 2009 2008 ---- ---- OPERATING ACTIVITIES Net income $26,629 $40,532 Adjustments to reconcile net income to net cash provided by operating activities: Share-based compensation expense 3,066 4,119 Deferred income taxes (290) 4,649 Amortization of investments 181 (456) Depreciation and amortization 480 503 Gain on sale of product rights (225) (75) Income tax benefit realized from share-based compensation plans 783 4,932 Excess tax benefit from share-based compensation plans (743) (4,841) Changes in operating assets and liabilities: Accounts receivable (4,415) 13,221 Inventories (919) (94) Prepaid income taxes 3,316 (3,316) Prepaid expenses and other current assets (61) (323) Accounts payable 8,619 2,525 Accrued compensation 244 (49) Sales-related reserves 3,097 3,649 Income taxes payable 477 (1,330) Other accrued liabilities 49 210 Other non-current liabilities (303) (347) ---- ---- Net cash flows provided by operating activities 39,985 63,509 ------ ------ INVESTING ACTIVITIES Purchase of property and equipment (140) (133) Purchase of short-term investments (61,557) (69,613) Proceeds from the sale and maturities of short- term investments 73,375 42,388 Net proceeds from sale of product rights 225 75 Changes in deposits and other assets - 34 --- --- Net cash flows provided by (used in) investing activities 11,903 (27,249) ------ ------- FINANCING ACTIVITIES Issuance of common stock, net 1,002 2,161 Repurchase of common stock (21,086) (35,571) Repurchase of Series A preferred stock - (10,348) Excess tax benefit from share-based compensation plans 743 4,841 --- ----- Net cash flows used in financing activities (19,341) (38,917) ------- ------- Increase (decrease) in cash and cash equivalents 32,547 (2,657) Cash and cash equivalents at beginning of year 13,282 15,939 ------ ------ Cash and cash equivalents at end of year $45,829 $13,282 ======= =======

    Questcor Pharmaceuticals, Inc.

    CONTACT: Don Bailey of Questcor, +1-510-400-0776, dbailey@Questcor.com;
    or Investors, Barbara Domingo, or Douglas Sherk, +1-415-896-6820, or Media,
    Chris Gale, +1-646-201-5431, all of EVC Group for Questcor

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




    Amerigroup Launches Long-Term Care Services in Tennessee

    VIRGINIA BEACH, Va., March 1, 2010 /PRNewswire-FirstCall/ -- Amerigroup Corporation today announced that its Tennessee health plan began offering long-term care (LTC) services to approximately 4,000 existing middle Tennessee members through the state's TennCare CHOICES in LTC program.

    The TennCare CHOICES in LTC is a long-term care program being integrated within Tennessee's existing TennCare managed care system. It provides strong consumer protections and enhanced medical benefits to participants. As part of a consumer-oriented approach, TennCare CHOICES in LTC members are able to select services that allow them to live more independently in their homes and communities.

    "The TennCare CHOICES in LTC program is an approach we believe in, and we are excited to participate," said James G. Carlson, Amerigroup chairman and chief executive officer. "For nearly three years, we have enjoyed serving the people of Tennessee and look forward to expanding our services and capabilities in the state."

    Amerigroup was among the first managed care organizations to address the complex health concerns of seniors and people with disabilities. In addition to Tennessee, the company currently serves these individuals through Aged, Blind and Disabled programs in Florida, Maryland, New Jersey, New Mexico, New York, Texas and Virginia. In each of these states, Amerigroup uses a coordinated care model, linking services and supports for each member, targeting their needs while promoting independent living and responsible, effective use of resources.

    "Our participation in TennCare CHOICES in LTC is a natural next step in growing our relationship with the state and our members, utilizing the knowledge we have accumulated in other markets serving seniors and people with disabilities. Our ultimate goal is to ensure improved access to health care options that support independent living and best utilize precious taxpayer dollars," Carlson added.

    Amerigroup began its operations in Tennessee in April 2007. The company serves approximately 195,000 members in the state as of Dec. 31, 2009, including those enrolled in TennCare and Medicare Advantage programs.

    About Amerigroup Corporation

    Amerigroup Corporation and its subsidiaries help those on publicly funded health care programs by ensuring that these individuals enter an organized system of care and a true medical home. Serving approximately 1.8 million members in 11 states nationwide, Amerigroup accepts all eligible people regardless of age, sex, race or disability. The company's product offerings do not utilize any individual underwriting nor deny coverage due to pre-existing medical conditions. Amerigroup is dedicated to offering real solutions that improve health care access and quality for its members, while proactively working to reduce the overall cost of care to taxpayers. For more information and real story examples of these solutions, please visit http://www.amerigroupcorp.com/.

    CONTACTS: Investors: Julie Loftus Trudell News Media: Tara J. Wall Amerigroup Corporation Amerigroup Corporation Senior Vice President, Investor Senior Vice President, Relations Communications (757) 321-3597 (757) 518-3671

    Amerigroup Corporation

    CONTACT: Investors: Julie Loftus Trudell, Senior Vice President,
    Investor Relations, +1-757-321-3597, or News Media: Tara J. Wall, Senior Vice
    President, Communications, +1-757-518-3671, both of Amerigroup Corporation

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




    BioSpecifics Technologies Corp. to Present at Cowen and Company 30th Annual Health Care Conference

    LYNBROOK, N.Y., March 1 /PRNewswire-FirstCall/ -- BioSpecifics Technologies Corp. , a biopharmaceutical company developing first in class collagenase-based products, today announced that BioSpecifics' President, Tom Wegman, will present at the upcoming Cowen and Company 30th Annual Health Care Conference on Monday, March 8, 2010, at 3:15pm ET at the Boston Marriott Copley Place in Boston, Massachusetts.

    A live webcast of the presentation can be accessed under "Calendar of Events" in the Investor Relations section of the Company's website at http://www.biospecifics.com/, or you may use the link: http://www.corporate-ir.net/ireye/conflobby.zhtml?ticker=BSTC&item_id=2755259.

    About BioSpecifics Technologies Corp.

    BioSpecifics Technologies Corp. is a biopharmaceutical company that has developed injectable collagenase for eleven clinical indications, three of which include: Dupuytren's contracture, Peyronie's Disease, and frozen shoulder (adhesive capsulitis). Its strategic partner Auxilium has announced the approval of XIAFLEX in the U.S. for the treatment of Dupuytren's contracture. Pfizer, Inc. is responsible for marketing XIAFLEX in Europe. More information about the company may be found on its website at http://www.biospecifics.com/.

    BioSpecifics Technologies Corp.

    CONTACT: BioSpecifics Technologies Corp., Thomas L. Wegman, President,
    +1-516-593-7000, thomas_wegman@biospecifics.com

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




    Covanta Holding Corporation Announces Meeting and Record Dates for Its 2010 Annual Meeting

    FAIRFIELD, N.J., March 1 /PRNewswire-FirstCall/ -- Covanta Holding Corporation ("Covanta") announced that its 2010 Annual Meeting of Stockholders will be held on May 6, 2010. The Board of Directors also set March 13, 2010 as the record date for holders of Covanta's common stock authorized to vote at such Annual Meeting of Stockholders.

    About Covanta

    Covanta 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/.

    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

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




    The Hanover's Chief Executive Officer Enters Into Pre-Arranged Stock Trading Plan

    WORCESTER, Mass., March 1 /PRNewswire-FirstCall/ -- The Hanover Insurance Group, Inc. , a leading provider of property and casualty insurance, today announced that Frederick H. Eppinger, the company's chief executive officer, has entered into a pre-arranged stock trading plan. Under the plan, Eppinger is allowed to exercise up to 150,000 options to purchase The Hanover's common stock and to sell the shares upon the exercise of those options. The pre-arranged stock trading plan covers options granted to Eppinger when he joined the company in August of 2003.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20051031/NEM023LOGO )

    Subject to meeting certain minimum, pre-determined prices, the transactions under this plan are proposed to occur beginning May 11, 2010 and will be subsequently disclosed through filings with the Securities and Exchange Commission. The plan will expire one year from the date transactions are first permitted to commence.

    The stock trading plan was established under Rule 10b5-1 of the Securities Exchange Act of 1934. Rule 10b5-1 plans permit individuals who are not in possession of material non-public information to establish pre-arranged plans to buy or sell company stock. These plans allow individuals to achieve prudent and gradual asset diversification over time.

    About The Hanover

    The Hanover Insurance Group, Inc. , based in Worcester, Mass., is the holding company for a group of insurers that includes The Hanover Insurance Company, also based in Worcester; Citizens Insurance Company of America, headquartered in Howell, Mich., and their affiliates. The Hanover offers a wide range of property and casualty products and services to individuals, families and businesses through an extensive network of independent agents, and has been meeting its obligations to its agent partners and their customers for more than 150 years. Taken as a group, The Hanover ranks among the top 30 property and casualty insurers in the United States.

    CONTACTS: Investor Relations Media Relations Robert P. Myron Oksana Lukasheva Michael Buckley rmyron@hanover.com olukasheva@hanover.com mibuckley@hanover.com (508) 855-2200 (508) 855-2063 (508) 855-3099

    Photo: http://www.newscom.com/cgi-bin/prnh/20051031/NEM023LOGO
    AP Archive: http://photoarchive.ap.org/
    PRN Photo Desk, photodesk@prnewswire.com The Hanover Insurance Group, Inc.

    CONTACT: Investor Relations, Robert P. Myron, +1-508-855-2200,
    rmyron@hanover.com, Oksana Lukasheva, +1-508-855-2063, olukasheva@hanover.com;
    or Media Relations, Michael Buckley, +1-508-855-3099, mibuckley@hanover.com,
    all of The Hanover Insurance Group, Inc.

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




    Anadys Pharmaceuticals to Present at the Cowen and Company Healthcare Conference

    SAN DIEGO, March 1 /PRNewswire-FirstCall/ -- Anadys Pharmaceuticals, Inc. announced today that it will present at the 30th Annual Cowen and Company Healthcare Conference on Monday, March 8, 2010 at 1:45 p.m. EST (10:45 a.m. PST). The conference is being held at the Boston Marriot Copley Square Hotel. Steve Worland, Ph.D., President and Chief Executive Officer of Anadys, will provide an overview of Anadys and its clinical development programs, ANA598 and ANA773.

    The corporate presentation will be simultaneously webcast and can be accessed on the Investor Relations page of the Company's website at http://www.anadyspharma.com/. Listeners are encouraged to visit the website approximately five minutes prior to the corporate presentation to download or install any necessary software. A replay of the presentation will be available approximately one hour after the live webcast concludes and will be available through March 22, 2010.

    About Anadys

    Anadys Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to improving patient care by developing novel medicines for the treatment of hepatitis C. The Company believes hepatitis C represents a large unmet medical need in which meaningful improvements in treatment outcomes may be attainable with the introduction of new medicines. The Company is developing ANA598, a non-nucleoside polymerase inhibitor for the treatment of hepatitis C. The Company has also investigated the potential of ANA773, an oral, small-molecule inducer of endogenous interferons that acts via the Toll-like receptor 7, or TLR7, pathway in hepatitis C.

    Safe Harbor Statement

    Statements in this press release that are not strictly historical in nature constitute "forward-looking statements." Such statements include, but are not limited to, references to Anadys' strategy, development programs, and ability to develop novel medicines for the treatment of hepatitis C. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause Anadys' actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. For example, the results of preclinical and early clinical studies may not be predictive of future results, and Anadys cannot provide any assurances that ANA598 or ANA773 will not have unforeseen safety issues, will have favorable results in ongoing or future clinical trials or will receive regulatory approval. Risk factors that may cause actual results to differ are more fully discussed in Anadys' SEC filings, including Anadys' Form 10-K for the year ended December 31, 2009. All forward-looking statements are qualified in their entirety by this cautionary statement. Anadys is providing this information as of this date and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

    Anadys Pharmaceuticals, Inc.

    CONTACT: Investors, Amy Conrad of Anadys Pharmaceuticals, Inc.,
    +1-858-530-3607, aconrad@anadyspharma.com; or Media, Ian Stone,
    ian.stone@russopartnersllc.com, or David Schull,
    david.schull@russopartnersllc.com, both of Russo Partners, LLC,
    +1-619-528-2220, for Anadys Pharmaceuticals, Inc.

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




    Providence Service Corporation Expects Record 2009 Fourth Quarter and Year Ahead of Expectations; Guidance for 2010 Forecasts Continued Growth

    TUCSON, Ariz., March 1 /PRNewswire-FirstCall/ -- The Providence Service Corporation today announced that it expects to report record financial results for the fourth quarter and year ended December 31, 2009, ahead of previously announced guidance.

    2009 Fourth Quarter and Year

    Based on preliminary unaudited results, the Company expects to report fourth quarter 2009 revenue of approximately $216 million and earnings per diluted share of approximately $0.42. Previously issued guidance for the fourth quarter of 2009, which was issued in November 2009 in conjunction with the release of third quarter results, had anticipated revenue of between $209 and $215 million and earnings per diluted share of $0.33 to $0.35. For the fourth quarter of 2008, the Company reported revenue of $178 million and a net loss due to an asset impairment charge.

    For the full year 2009, earnings are expected to be approximately $1.60 per diluted share including a non-recurring tax benefit of $1.4 million, or $0.11 per diluted share. Prior earnings per share expectations ranged from $1.51 to $1.53. Revenue for 2009 is expected to be approximately $801 million compared to earlier guidance of $794 million to $800 million and 2008 revenue of $692 million. Included in anticipated 2009 results is approximately $3.2 million, or $0.14 per share, of expense associated with the Company's amended credit agreement and costs associated with the proxy contest. These additional expenses were offset by approximately $8.8 million, or approximately $0.39 per share, of savings resulting from the Company's 2009 salary and related benefits freeze, and reduced stock compensation. Excluding the tax benefit, credit agreement and proxy contest expenses, and compensation expense savings, we believe our diluted earnings per share for 2009 would have been approximately $1.24.

    "We are benefitting from a number of drivers including increased Medicaid enrollment, the Medicaid stimulus as well as an apparent shift in referral patterns away from out of home care toward home based care," stated Fletcher McCusker, Chairman and CEO. "Our record earnings in 2009 were achieved by freezing salaries, reducing stock compensation and reducing employee benefits. Those actions, taken in November 2008, allowed us to absorb our refinancing costs and a proxy contest and still produce record results. These results, while primarily volume driven, were also due to our ability to manage the rate pressure associated with state budget constraints throughout 2009. While state governments continue to face budget pressures, our positioning as a home based provider as well as our diversification means that we are not seeing the level of rate and referral pressure recently discussed by certain out-of-home providers."

    2010 Guidance

    For 2010, the Company expects revenue of between $850 and $870 million, an increase of 6% to 9%, and earnings per diluted share of $1.32 to $1.35 assuming a 40.71% tax rate, and assuming approximately $0.39 per share worth of expenses not incurred in 2009; primarily the employee salary freeze and stock compensation expense. For the first quarter of 2010, the Company expects revenue of between $210 and $220 million and earnings per diluted share of between $0.45 and $0.48. This compares to revenue of $187 million and diluted earnings per share of $0.44 in the first quarter of 2009. This forecast does not include any unannounced contract wins or acquisitions.

    "We expect 2010 will be a more predictable year for us. Our operating margins will come down a little with the return of a more normalized expense structure and we anticipate that our organic growth should offset the additional anticipated expenses resulting from the end of the employee salary freeze and higher stock compensation expense."

    2010-2011 Government Budgets

    "We expect that the positive Medicaid and home based care enrollment trend we saw in 2009 will continue in 2010. The President's budget includes a request to extend the current Medicaid stimulus through 2011 as well as additional funds for State Children's Health Insurance Program (SCHIP), job training and development along with increased funds for military mental health. Consequently our 2010 guidance assumes a stable fourth quarter and continued funding at current levels," McCusker added.

    The Company expects to report fourth quarter earnings for 2009 on March 10, 2010, after the market closes.

    About Providence

    The Providence Service Corporation, through its owned and managed entities, provides home and community based social services and non-emergency transportation services management to government sponsored clients under programs such as welfare, juvenile justice, Medicaid and corrections. Providence does not own or operate beds, treatment facilities, hospitals or group homes, preferring to provide services in the client's own home or other community setting. The Company provides a range of services through its direct and managed entities to over 74,000 clients through 843 active contracts at September 30, 2009, with an estimated 7.3 million individuals eligible to receive the Company's non-emergency transportation services. Combined, the Company has a nearly $1 billion book of business including managed entities.

    Non-GAAP Financial Measure

    In addition to the financial results prepared in accordance with accounting principles generally accepted in the United States (GAAP) provided throughout this document, we have provided a non-GAAP measurement, which presents our preliminary earnings per share for 2009 on a pro forma basis excluding a tax benefit, the impact of savings resulting from a salary and related benefits freeze and reduced stock compensation expense as well as certain expenses incurred in 2009 that we believe are nonrecurring. Details of the excluded items and a reconciliation of the non-GAAP financial measure to the most comparable GAAP financial measure are presented in the table below. The non-GAAP measure does not replace the presentation of our GAAP financial results. We have provided this supplemental non-GAAP information because we believe it provides meaningful comparisons of the actual and expected results of our operations for the historical periods presented in this press release and the anticipated results of our operations for 2010. The non-GAAP measure is not in accordance with, or an alternative for, generally accepted accounting principles and may be different from pro forma measures used by other companies. The items excluded in the non-GAAP measure pertain to certain items that are considered to be material so that exclusion of the items would, in management's belief, enhance a reader's ability to compare the results of our business after excluding these items.

    Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "demonstrate," "expect," "estimate," "anticipate," "should" and "likely" and similar expressions identify forward-looking statements. In addition, statements that are not historical should also be considered forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. Such forward-looking statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. These factors include, but are not limited to the global credit crisis, capital market conditions, and other risks detailed in Providence's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2008. Providence is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.

    --financial table to follow-- The Providence Service Corporation Reconciliation of Non-GAAP Financial Measure Expected Diluted Earnings Per Share Excluding Certain Items (1) (UNAUDITED) Year ended December 31, 2009 ---- Expected diluted earnings per share - GAAP $1.60 Adjustments: Amended credit agreement related expenses 0.09 Proxy contest related expenses 0.05 Tax benefit (0.11) Stock compensation expense (2) (0.06) Payroll and related costs (3) (0.33) ----- Expected diluted earnings per share - Non-GAAP $1.24 ===== 1. This presentation includes a non-GAAP measure. Our non-GAAP measure is not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. The Company believes that this non-GAAP measure provides useful information to investors regarding its performance and overall results of operations. Earnings per share is an integral part of the Company's internal reporting to measure the performance of the Company and the overall effectiveness of senior management. 2. Represents the difference between the estimated stock compensation expense for 2010 and the actual stock compensation expense for 2009, which the Company believes is the best current estimate of savings resulting from reduced stock compensation expense for 2009. 3. Represents the Company's best current estimate of savings resulting from the 2009 salary and related benefits freeze.

    The Providence Service Corporation

    CONTACT: Fletcher McCusker, Chairman and CEO, or Kate Blute, Director of
    Investor and Public Relations, both of The Providence Service Corporation,
    +1-520-747-6600; or Alison Ziegler of Cameron Associates, +1-212-554-5469, for
    The Providence Service Corporation

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




    Universal Truckload Services, Inc. Announces Filing of S-3 Shelf Registration Statement

    WARREN, Mich., March 1 /PRNewswire-FirstCall/ -- Universal Truckload Services, Inc. announced today that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission ("SEC") to offer to the public from time to time in one or more offerings shares of its common stock, preferred stock, rights and warrants up to a total aggregate offering amount of $100,000,000. The securities will be offered at prices and on terms to be determined at the time of any such offering.

    In addition, under the shelf registration, if and when declared effective by the SEC, our Chairman, Matthew T. Moroun, and one of our directors, Manuel J. Moroun, who together are controlling stockholders of the Company, may offer for resale to the public from time to time in one or more offerings up to 6,082,726 secondary shares of the Company's common stock owned by them at prices and on terms to be determined at the time of any such offering. Matthew T. Moroun is the son of Manuel J. Moroun.

    Neither the Company nor either of the Morouns has any present intention to offer any of the securities.

    The registration statement on Form S-3 has not yet been declared effective by the SEC. The securities may not be sold and offers to buy may not be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

    About Universal:

    Universal Truckload Services, Inc. is primarily an asset light provider of transportation services to shippers throughout the United States and in the Canadian provinces of Ontario and Quebec. The Company's trucking services include both flatbed and dry van operations and the Company provides rail-truck and steamship-truck intermodal support services. The Company also offers truck brokerage services.

    Some of the statements contained in this press release might be considered forward-looking statements. These statements identify prospective information. Forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. These forward-looking statements are subject to a number of factors that may cause actual results to differ materially from the expectations described. Additional information about the factors that may adversely affect these forward-looking statements is contained in the Company's reports and filings with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws.

    Universal Truckload Services, Inc.

    CONTACT: Robert Sigler, Vice President and Chief Financial Officer,
    +1-586-920-0100

    Web Site: http://goutsi.com/




    ONEOK, Inc. and ONEOK Partners to Participate in UBS Natural Gas, Electric Power and Coal Conference

    TULSA, Okla., March 1 /PRNewswire-FirstCall/ -- ONEOK, Inc. and ONEOK Partners, L.P. will participate in the UBS Natural Gas, Electric Power and Coal Conference in Dallas on Thursday, March 4, 2010.

    Rob Martinovich, chief operating officer of ONEOK, Inc., and Curtis Dinan, chief financial officer of ONEOK, Inc. and ONEOK Partners, L.P., will be conducting a series of one-on-one meetings with members of the investment community.

    The materials utilized at the conference will be accessible on the ONEOK, Inc. and ONEOK Partners Web sites, http://www.oneok.com/, http://www.oneokpartners.com/, that morning, beginning at 9 a.m. Central Standard Time.

    ONEOK Partners, L.P. is one of the largest publicly traded master limited partnerships, and is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation's premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent and Rocky Mountain regions with key market centers. Its general partner is a wholly owned subsidiary of ONEOK, Inc. , a diversified energy company, which owns 42.8 percent of the overall partnership interest. ONEOK is one of the largest natural gas distributors in the United States, and its energy services operation focuses primarily on marketing natural gas and related services throughout the U.S.

    ONEOK, Inc. is a diversified energy company. We are the general partner and own 42.8 percent of ONEOK Partners, L.P. , one of the largest publicly traded master limited partnerships, which is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation's premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent and Rocky Mountain regions with key market centers. ONEOK is among the largest natural gas distributors in the United States, serving more than 2 million customers in Oklahoma, Kansas and Texas. Our energy services operation focuses primarily on marketing natural gas and related services throughout the U.S. ONEOK is a Fortune 500 company.

    For more information, visit the Web sites at http://www.oneokpartners.com/ or http://www.oneok.com/.

    Analyst Contact: Andrew Ziola 918-588-7163 Media Contact: Megan Washbourne 918-588-7572 OKE-FV OKS-FV

    ONEOK, Inc.; ONEOK Partners, L.P.

    CONTACT: Analysts, Andrew Ziola, +1-918-588-7163; or Media, Megan
    Washbourne, +1-918-588-7572, both for ONEOK, Inc. and ONEOK Partners, L.P.

    Web Site: http://www.oneok.com/
    http://www.oneokpartners.com/




    AMERISAFE Announces 2009 Fourth Quarter and Year-End ResultsAnnounces $25 million share repurchase program

    DERIDDER, La., March 1 /PRNewswire-FirstCall/ -- AMERISAFE, Inc. , a specialty writer of hazardous workers' compensation insurance, today announced results for the fourth quarter and year ended December 31, 2009.

    Three Months Ended Twelve Months Ended December 31, December 31, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- (in thousands) Gross premiums written $49,369 $65,102 $256,454 $307,841 Net income 6,597 5,737 46,431 43,846 Operating net income 6,552 19,093 44,409 59,061 Net combined ratio 96.7% 73.7% 86.9% 81.4% Return on average equity 8.5% 8.4% 16.0% 17.1% Operating return on average equity 8.5% 27.8% 15.4% 23.2%

    Net income in the fourth quarter of 2009 was $6.6 million compared to $5.7 million in the fourth quarter of 2008, an increase of 15.0%. Excluding net realized after-tax capital gains and losses, operating net income was $6.6 million compared to $19.1 million in the 2008 fourth quarter.

    Pre-tax income for the fourth quarter of 2009 included $8.7 million of favorable prior year loss development. The Company also adjusted the current accident year loss ratio for the full year from 69.0% to 73.8%. For the fourth quarter of 2009, this adjustment resulted in $12.1 million of additional loss and loss adjustment expense related to the current accident year. The current accident year loss ratio adjustment was primarily driven by severe claims occurring in the fourth quarter of 2009. For the same period in 2008, pre-tax income included $9.3 million of favorable prior year loss development and $2.2 million of Florida policyholder dividend expense.

    Return on average equity for the fourth quarter of 2009 was 8.5% compared to 8.4% for the fourth quarter of 2008. At the end of the fourth quarter of 2009, the Company redeemed its Series C and D redeemable preferred shares for $25.9 million. The average equity calculation for both the fourth quarter and full year includes the redeemable preferred stock carrying value of $25.0 million in beginning equity. Operating return on average equity for the fourth quarter of 2009 was 8.5% compared to 27.8% for the fourth quarter of 2008. The fourth quarter 2008 return on average equity was affected by the net realized after-tax capital losses described below.

    Gross premiums written in the fourth quarter of 2009 were $49.4 million compared to $65.1 million in the fourth quarter of 2008, a decrease of 24.2%. Voluntary premiums for policies written in the quarter decreased 11.8%, the effect of which was compounded by negative payroll audits and related premium adjustments for policies written in previous quarters.

    Net investment income was $6.8 million for the fourth quarter of 2009 compared to $8.1 million for the fourth quarter of 2008. In the fourth quarter of 2008, the Company recognized other-than-temporary impairments of $14.7 million, primarily related to the Company's holdings in exchange-traded funds, and $1.2 million of realized losses primarily from the sale of other equity securities. The after-tax effect of the impairments and realized losses was $13.4 million for the fourth quarter of 2008.

    Fourth quarter revenues totaled $64.0 million for both 2009 and 2008. Revenues in the fourth quarter of 2008 were impacted by $16.0 million of net realized losses on investments.

    Net income for 2009 was $46.4 million compared to $43.8 million for 2008, an increase of 5.9%. Excluding net realized after-tax capital gains and losses, operating net income for 2009 was $44.4 million compared to $59.1 million for 2008, a decrease of 24.8%.

    For 2009, pre-tax income included $21.9 million of favorable prior year development and higher current accident year losses. The Company increased the current accident year loss ratio from 68.0% for 2008 to 73.8% for 2009 due to losses experienced. For 2008, pre-tax income included $20.4 million of favorable prior year loss development partially offset by Florida policyholder dividend expense of $2.1 million. The Company's return on average equity was 16.0% (15.4% on an operating basis) for 2009, compared to 17.1% (23.2% on an operating basis) for 2008.

    For 2009, gross premiums written totaled $256.5 million, a 16.7% decrease from gross premiums written of $307.8 million for 2008. Net investment income was $28.0 million for 2009, a decrease of 9.6% over the $31.0 million of net investment income recorded in 2008. Revenues for 2009 totaled $282.2 million, a 6.7% decrease from revenues of $302.4 million for 2008.

    Diluted earnings per share allocable to common shareholders were $0.28 in both the fourth quarter of 2009 and the fourth quarter of 2008. Excluding net realized after-tax capital gains and losses, operating earnings per share were $0.32 in the fourth quarter of 2009 compared to $0.94 in the same period in 2008. Weighted average diluted shares outstanding for the fourth quarter of 2009 totaled 19,318,883 shares compared to 19,197,815 shares in the fourth quarter of 2008.

    For 2009, diluted earnings per share allocable to common shareholders were $2.22 compared to $2.15 for 2008. Excluding net realized after-tax capital gains and losses, 2009 operating earnings per share were $2.17 compared to $2.90 for 2008. Weighted average diluted shares outstanding for 2009 totaled 19,268,295 compared to 19,141,688 shares for 2008.

    The net combined ratio for the quarter ended December 31, 2009 was 96.7% compared to 73.7% for the same period in 2008. Loss and loss adjustment expenses for fourth quarter of 2009 were $42.7 million, or 74.9% of net premiums earned, compared to $37.2 million, or 51.8% of net premiums earned for the fourth quarter of 2008. Total underwriting expenses for the fourth quarter of 2009 were $12.2 million, or 21.4% of net premiums earned, compared to $12.8 million, or 17.8% of net premiums earned, for the fourth quarter of 2008.

    The net combined ratio for 2009 was 86.9% compared to 81.4% for 2008. Loss and loss adjustment expenses for 2009 were $163.3 million, or 65.1% of net premiums earned, compared to $176.4 million, or 60.9% of net premiums earned, for 2008. Total underwriting expenses for 2009 were $54.0 million, or 21.5% of net premiums earned, compared to $55.9 million, or 19.3% of net premiums earned, for 2008.

    Commenting on these results, Allen Bradley, AMERISAFE's Chairman, President and Chief Executive Officer, stated, "In terms of loss experience the fourth quarter was disappointing. Yet AMERISAFE continues to produce an underwriting profit despite these losses, the protracted soft insurance market cycle and economic pressures on the classes of business we insure. The AMERISAFE team is committed to operating efficiently throughout cycles and maintaining profitability by appropriate risk selection and effective claims management, as evidenced in our superb combined ratio of 86.9% and return on average equity of 16.0%. Making prudent business decisions in the current market bodes well for our Company's ability to build long-term shareholder value."

    Share Repurchase Plan

    AMERISAFE also announced today that its Board of Directors has authorized a share repurchase program of the company's common stock. The program will have an authorized limit of up to $25 million and will expire on December 31, 2010.

    "With the redemption of all outstanding convertible preferred stock now behind us, we are free to return capital to shareholders by opportunistically repurchasing shares when conditions warrant," said Bradley. "We've more than doubled AMERISAFE's book value since becoming a public company just over four years ago. This stock repurchase program will allow us to leverage that growth to further enhance shareholder value."

    Conference Call Information

    AMERISAFE has scheduled a conference call for March 2, 2010, at 9:00 a.m. Eastern Time. To participate in the conference call dial 480-629-9771 at least 10 minutes before the call begins and ask for the AMERISAFE conference call. A replay of the call will be available approximately two hours after the live broadcast ends and will be accessible through March 9, 2010. To access the replay, dial 303-590-3030 and use the pass code 4207007#.

    Investors, analysts and the general public will also have the opportunity to listen to the conference call over the Internet by visiting http://www.amerisafe.com/. To listen to the live call on the web, please visit the website at least fifteen minutes before the call begins to register, download and install any necessary audio software. For those who cannot listen to the live webcast, an archive will be available shortly after the call and will remain available for approximately 60 days at http://www.amerisafe.com/.

    About AMERISAFE

    AMERISAFE, Inc. is a specialty provider of workers' compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, agriculture, logging, oil and gas, and maritime. AMERISAFE actively markets workers' compensation insurance in 30 states and the District of Columbia. The Company's financial strength rating is "A-" (Excellent) by A.M. Best.

    Statements made in this press release that are not historical facts, including statements accompanied by words such as "will," "believe," "anticipate," "expect," "estimate," or similar words are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding AMERISAFE's plans and performance. These statements are based on management's estimates, assumptions and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from the results expressed or implied in these statements as the results of risks, uncertainties and other factors including, but not limited to, the factors set forth in the Company's filings with the Securities and Exchange Commission, including AMERISAFE's Annual Report on Form 10-K for the year ended December 31, 2008. AMERISAFE cautions you not to place undue reliance on the forward-looking statements contained in this release. AMERISAFE does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.

    Contacts: G. Janelle Frost, EVP & CFO AMERISAFE, Inc. 337-463-9052 Ken Dennard, Managing Partner Karen Roan, Sr.VP DRG&E / 713-529-6600 - Tables to follow - AMERISAFE, INC. AND SUBSIDIARIES Consolidated Statements of Income (in thousands, except per share amounts) Three Months Ended Twelve Months Ended December 31, December 31, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- (unaudited) Revenues: --------- Gross premiums written $49,369 $65,102 $256,454 $307,841 Ceded premiums written (6,043) (5,620) (20,158) (19,650) ------ ------ ------- ------- Net premiums written $43,326 $59,482 $236,296 $288,191 ------- ------- -------- -------- Net premiums earned $56,970 $71,766 $250,896 $289,493 Net investment income 6,783 8,064 28,014 30,998 Net realized gains (losses) on investments 34 (15,996) 2,033 (18,856) Fee and other income 185 172 1,268 742 --- --- ----- --- Total revenues 63,972 64,006 282,211 302,377 ------ ------ ------- ------- Expenses: --------- Loss and loss adjustment expenses incurred 42,669 37,172 163,316 176,389 Underwriting and other operating costs 12,179 12,799 53,957 55,936 Interest expense 399 380 1,810 2,460 Policyholder dividends 247 2,941 770 3,504 --- ----- --- ----- Total expenses 55,494 53,292 219,853 238,289 ------ ------ ------- ------- Income before taxes 8,478 10,714 62,358 64,088 Income tax expense 1,881 4,977 15,927 20,242 ----- ----- ------ ------ Net income 6,597 5,737 46,431 43,846 Redemption premium (875) - (875) - ---- --- ---- --- Net income available to common shareholders $5,722 $5,737 $45,556 $43,846 ====== ====== ======= ======= AMERISAFE, INC. AND SUBSIDIARIES Consolidated Statements of Income (cont.) (in thousands, except per share amounts) Three Months Ended Twelve Months Ended December 31, December 31, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- (unaudited) Basic EPS: ---------- Net income available to common shareholders $5,722 $5,737 $45,556 $43,846 ====== ====== ======= ======= Portion allocable to common shareholders 94.1% 94.1% 94.1% 94.0% Net income allocable to common shareholders $5,385 $5,399 $42,869 $41,215 ====== ====== ======= ======= Basic weighted average common shares 18,878,092 18,830,743 18,860,197 18,814,508 Basic earnings per share $0.29 $0.29 $2.27 $2.19 Diluted EPS: ------------ Net income allocable to common shareholders $5,385 $5,399 $42,869 $41,215 ====== ====== ======= ======= Diluted weighted average common shares: Weighted average common shares 18,878,092 18,830,743 18,860,197 18,814,508 Stock options 438,165 351,752 396,254 304,390 Restricted stock 2,626 15,320 11,844 22,790 ----- ------ ------ ------ Diluted weighted average common shares 19,318,883 19,197,815 19,268,295 19,141,688 Diluted earnings per common share $0.28 $0.28 $2.22 $2.15 ===== ===== ===== ===== AMERISAFE, INC. AND SUBSIDIARIES Consolidated Balance Sheets (in thousands) December 31, December 31, ------------ ------------ 2009 2008 ---- ---- (unaudited) Assets Investments $737,297 $704,707 Cash and cash equivalents 63,188 95,266 Amounts recoverable from reinsurers 81,878 67,763 Premiums receivable, net 151,570 156,567 Deferred income taxes 28,489 33,580 Deferred policy acquisition costs 18,128 20,289 Deferred charges 3,030 3,381 Other assets 35,229 26,280 ------ ------ $1,118,809 $1,107,833 ========== ========== Liabilities, redeemable preferred stock and shareholders' equity Liabilities: Reserves for loss and loss adjustment expenses $534,655 $531,293 Unearned premiums 122,500 137,100 Insurance-related assessments 40,072 42,505 Subordinated debt securities 36,090 36,090 Other liabilities 83,075 82,573 Redeemable preferred stock - 25,000 Total shareholders' equity 302,417 253,272 ------- ------- Total liabilities, redeemable preferred stock and shareholders' equity $1,118,809 $1,107,833 ========== ========== AMERISAFE, INC. AND SUBSIDIARIES Selected Insurance Ratios Three Months Ended Twelve Months Ended December 31, December 31, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- (unaudited) Current accident year loss ratio (1) 90.2% 64.8% 73.8% 68.0% Prior accident year loss ratio (2) (15.3)% (13.0)% (8.7)% (7.1)% ------ ------ ----- ----- Net loss ratio 74.9% 51.8% 65.1% 60.9% ---- ---- ---- ---- Net underwriting expense ratio (3) 21.4% 17.8% 21.5% 19.3% Net dividend ratio (4) 0.4% 4.1% 0.3% 1.2% Net combined ratio (5) 96.7% 73.7% 86.9% 81.4% Return on average equity (6) 8.5% 8.4% 16.0% 17.1% Operating return on average equity 8.5% 27.8% 15.4% 23.2% (1) The current accident year loss ratio is calculated by dividing loss and loss adjustment expenses incurred for the current accident year by the current year's net premiums earned. (2) The prior accident year loss ratio is calculated by dividing the change in loss and loss adjustment expenses incurred for prior accident years by the current year's net premiums earned. (3) The net underwriting expense ratio is calculated by dividing underwriting and certain other operating costs by the current year's net premiums earned. (4) The net dividend ratio is calculated by dividing policyholder dividends by the current year's net premiums earned. (5) The net combined ratio is the sum of the net loss ratio, the net underwriting expense ratio and the net dividend ratio. (6) Return on average equity is calculated by dividing the annualized net income by the average shareholders' equity, including redeemable preferred stock for the applicable period. AMERISAFE, INC. AND SUBSIDIARIES Reconciliation of Non-GAAP Financial Measures Three Months Ended Twelve Months Ended December 31, December 31, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- (dollars in thousands) Net income $6,597 $5,737 $46,431 $43,846 Less: Net realized capital gains (losses) 34 (15,996) 2,033 (18,856) Tax effect (1) 11 2,640 (11) 3,641 --- ----- --- ----- Operating net income (2) 6,552 19,093 44,409 59,061 ===== ====== ====== ====== Average shareholders' equity (3) $311,346 $272,615 $290,345 $255,921 Less: Average other comprehensive income (loss) 2,274 (1,678) 1,787 1,204 ----- ------ ----- ----- Adjusted average shareholders' equity 309,072 274,293 288,558 254,717 ======= ======= ======= ======= Diluted weighted average common shares 19,318,883 19,197,815 19,268,295 19,141,688 Portion allocable to common shareholders 94.1% 94.1% 94.1% 94.0% Return on average equity 8.5% 8.4% 16.0% 17.1% Operating return on average equity (2) 8.5% 27.8% 15.4% 23.2% Diluted earnings per common share $0.28 $0.28 $2.22 $2.15 Operating earnings per common share (2) $0.32 $0.94 $2.17 $2.90 (1) The tax effect of net realized capital gains (losses) is calculated assuming an annual tax rate of 35%. (2) Operating net income, operating return on average equity and operating earnings per share are non-GAAP financial measures, and management believes that investor's understanding of core operating performance is enhanced by AMERISAFE's disclosure of these financial measures. (3) Average shareholders' equity is calculated by taking the average of the beginning and ending shareholders' equity, including redeemable preferred for the same period used in determining the numerator. On December 31, 2009, the Company redeemed all outstanding shares of its Series C and D redeemable preferred stock for $25.9 million.

    AMERISAFE, Inc.

    CONTACT: G. Janelle Frost, EVP & CFO of AMERISAFE, Inc.,
    +1-337-463-9052; or Ken Dennard, Managing Partner, or Karen Roan, Sr.VP, both
    of DRG&E, +1-713-529-6600, for AMERISAFE, Inc.

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




    China-Biotics, Inc. Appointed Grayling as Strategic Investor Relations Advisor

    SHANGHAI, March 1 /PRNewswire-Asia-FirstCall/ -- China-Biotics, Inc. ("China-Biotics," "the Company") , the leading developer, manufacturer and distributor of probiotics products in China, today announced that that it has appointed Grayling to develop and implement a comprehensive communications program to strategically position and raise the visibility of the Company's growth story, and explain its financial performance to shareholders, potential investors and the financial media.

    Jinan Song, Chairman and Chief Executive Officer of China-Biotics, commented, "As China-Biotics is upgrading its production capabilities and expanding its customer portfolio, we are pleased to have Grayling help us create greater global awareness of our competitive advantages and strong growth prospects in the expanding probiotics market."

    Grayling, a subsidiary of Huntsworth plc , is headquartered in London, and it has merged with sister companies Trimedia and Mmd to create a new global Investor Relations, Public Relations, Public Affairs and Events consultancy. The new company has a global footprint with offices in 70 locations in 40 countries across Europe, the US, the Middle East and Asia Pacific. Grayling is the second largest independent PR firm in the world. http://www.grayling.com/ .

    About China-Biotics

    China-Biotics, Inc. ("China-Biotics," "the Company"), a leading manufacturer of biotechnology products and supplements, engages in the research, development, marketing and distribution of probiotics dietary supplements in China. Through its wholly owned subsidiary, Shanghai Shining Biotechnology Co., Ltd., the Company develops and produces its proprietary product portfolio including live microbial nutritional supplements under the "Shining" brand. Currently, the products are sold OTC through large distributors to pharmacies and supermarkets in Shanghai, Jiangsu, and Zhejiang province. In February 2010, China-Biotics began its commercial production in China's largest probiotics production facility to meet growing demand in China. For more information, please visit http://www.chn-biotics.com/ .

    Safe Harbor Statement

    The information in this release contains forward-looking statements which involve risks and uncertainties, including statements regarding the Company's capital needs, business strategy and expectations. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements, which may be identified by terminology such as "may," "should," "will," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "forecast," "project," or "continue," the negative of such terms or other comparable terminology. Readers should not rely on forward-looking statements as predictions of future events or results. Any or all of the Company's forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions, risks and uncertainties and other factors which could cause actual events or results to be materially different from those expressed or implied in the forward-looking statements. In evaluating these statements, readers should consider various factors, including the risks described in "Item 1A. Risk Factors" beginning on page 15 and elsewhere in the Company's 2009 Annual Report on Form 10-K. These factors may cause the Company's actual results to differ materially from any forward-looking statement. In addition, new factors emerge from time to time and it is not possible for the Company to predict all factors that may cause actual results to differ materially from those contained in any forward- looking statements. The Company disclaims any obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this document, except as required by applicable law.

    For more information, please contact: Travis Cai Chief Financial Officer China-Biotics, Inc. Email: traviscai@chn-biotics.com Kevin Theiss Grayling Tel: +1-646-284-9409 Email: kevin.theiss@grayling.com

    China-Biotics, Inc.

    CONTACT: Travis Cai, CFO of China-Biotics, Inc.,
    traviscai@chn-biotics.com; or Kevin Theiss, Grayling, +1-646-284-9409,
    kevin.theiss@grayling.com

    Web site: http://www.chn-biotics.com/




    Sutor Technology Group Limited to Attend Rodman & Renshaw Annual China Investment Conference

    CHANGSHU, China, March 1 /PRNewswire-Asia-FirstCall/ -- Sutor Technology Group Limited (the "Company", "Sutor") , a leading China-based manufacturer and distributor of high-end fine finished steel products and welded steel pipes used by a variety of down-stream applications, today announced that management will participate in the Rodman & Renshaw Annual China Investment Conference in Beijing, China. The Company will present on March 8 from 11:30 to 11:55 am in Ballroom III at the Regent Hotel.

    During the conference, management will be available to meet with analysts and portfolio managers. Interested parties and investors who wish to meet with Sutor's management may contact LK@rodm.com or call (212) 430-1782. Participation in the Rodman & Renshaw Annual China Investment Conference is by invitation only.

    About Sutor Technology Group Limited

    Sutor is one of the leading China-based manufacturers and distributors of high-end fine finished steel products and welded steel pipes used by a variety of down stream applications. Sutor utilizes a variety of processes and technological methodologies to convert steel manufactured by third parties into fine finished steel products, including hot-dipped galvanized steel, pre-painted galvanized steel, acid-pickled steel, cold-rolled steel and welded steel pipe products. To learn more about the Company, please visit http://www.sutorcn.com/ .

    For more information, please contact: Mr. Jason Wang Sutor Technology Group Limited Tel: +86-512-5268-0988 Web: http://www.sutorcn.com/ Mr. Brian M. Prenoveau, CFA ICR, Inc. Tel: +1-203-682-8200

    Sutor Technology Group Limited

    CONTACT: Jason Wang, +86-512-5268-0988, of Sutor Technology Group Limited;
    Brian M. Prenoveau, CFA, +1-203-682-8200, of ICR, Inc.

    Web site: http://www.sutorcn.com/




    Chefs of Local Senior Living Communities Compete for Ultimate Chef America Title; Event Educates Public on Healthy Dining and AgingAuction Proceeds Benefit Leeza Gibbons Memory Foundation

    DALLAS, March 1 /PRNewswire-FirstCall/ -- A dynamic culinary competition among area professional senior living chefs highlights healthy cooking, wellness and quality of life for older adults. During the culinary cook-off, the culinary professionals from Brookdale Senior Living, industry-leading owners and operators of senior living communities, will entertain and showcase their culinary talents to compete for the chance to win the "Ultimate Chef America" title.

    On Thursday, March 25 from 4 to 6 p.m., Town Village North Dallas, a Brookdale Senior Living community, located at 12271 Coit Road in Dallas, will open its doors to the public and host the intense competition and educational event. Seating is limited. Reservations by Tuesday, March 23 to Donna or Cynthia at 972-866-7575 are required.

    During the Ultimate Chef America competition, two teams of four Dining Services staff members from area senior living communities will compete during a two-hour cooking competition focusing on healthy cooking for seniors. They will be charged with preparing four courses, and only able to use a grill for cooking.

    Dishes prepared at the event will be tasted by a panel of judges. For this event, the judges are:

    -- Leeza Gibbons, media personality, founder of The Leeza Gibbons Memory Foundation, and author of America's No. 1 book on caregiving, "Take Your Oxygen First." -- Bronwen Weber, a pastry chef and renowned cake decorator. In her 20-year career she has worked at a variety of bakeries and won numerous awards, and is a frequent competitor on Food Network Challenge cake decorating competition. -- Lyle Oelfke, resident of Town Village Ridgmar, a Brookdale Senior Living community. A deer hunter for 45 years and a professional chef for 10 years, Oelfke is the author of a cookbook of 100 deer meat recipes.

    Attendees can join in the Ultimate Chef America event by gaining a close-up look at the competitors and the fast-paced competition. They will have the opportunity to ask the chefs questions, and taste culinary delights, including seafood soups and entrees, beef and pork tenderloin creations and more.

    Attendees also will have the opportunity to participate in various educational programs, including a seminar featuring Brookdale's Medical Director, Dr. Kevin O'Neil, on the topic of "Food for the Soul," a presentation which taps into the emotional dimension and gives attendees insight into issues such as whether optimism can lead to better health and research behind the mind-body connection; a wine tasting class featuring wines, some of which may be local; and a class presented by the Culinary Arts Institute at Brookdale: "The Art of Seasoning," which addresses sodium-free solutions for declining taste buds as one ages.

    To heighten the interest and activity of Ultimate Chef America, Brookdale has partnered with several national partners and sponsors to be included in a vendor expo. Attendees can interact with these vendors during the expo to gain answers, samples and more.

    In addition, food inspired art created by residents of Brookdale Senior Living communities across the nation will be auctioned at the Ultimate Chef America event. Proceeds of this auction will go to the Leeza Gibbons Memory Foundation, an organization which elevates the national consciousness of caregiving and fosters a culture of healthy caregivers impacted by chronic illness through programming, universal access to resources, and behavioral research.

    "Without a doubt, attendees and participants will achieve fulfillment in the dimensions of wellness," said Joska J.W. Hajdu, Senior Vice President of Dining Services for Brookdale Senior Living. "The creativity, ability, and talent of our Dining Services associates will be showcased during this unique competition. Our chefs are masters at creating traditional, heart-healthy meals, and this competition will challenge peoples' notions on healthy food choices for seniors, educate them on healthy choices, and give them a purposeful activity through the auction all in a socially engaging environment."

    A way of life offered exclusively by Brookdale Senior Living at its communities for residents and associates, Optimum Life® focuses on six key dimensions - emotional, intellectual, physical, social, spiritual and purposeful.

    Community tours will also be available, and participants will gain a first-hand view of the variety, styles and sizes of the private apartments and the community areas for socializing, dining and entertaining. Staff will be available to discuss living options, and visitors will learn more about the programs, outings and opportunities offered to residents.

    National sponsors include Vitality, owned by Nestle and a supplier of juice concentrates and noncarbonated drinks; Advanced Food, a manufacturer of proportioned meats; SCA, which offers personal care products, tissue, packaging, publication papers and solid-wood products in more than 90 countries; Nestle Professional, a part of the world's largest food and beverage company that offers creative food and beverage solutions; Fidelity Printing, a full service and custom print company that has been providing quality customer care since 1999; Royal Cup Coffee, known for a full range of beverages and beverage related items including coffee, fountain beverages, juices, and specialty teas; and Ecolab, which supplies programs and services for cleaning, sanitation, and pest control in more than 160 countries.

    The Ultimate Chef culinary competition is produced by the Culinary Arts Institute at Brookdale (CAI). The CAI at Brookdale is a professional development program designed to enhance the food preparation and presentation skills of Brookdale chefs. The dining and culinary arts team integrates hands-on training and classroom instructional materials that impart new food preparation skills and cutting edge techniques to enhance Brookdale residents' dining experiences.

    More information about Ultimate Chef America can be found at http://www.ultimatechefamerica.com/ and http://www.facebook.com/ultimatechefbrookdale.

    Brookdale Senior Living Inc. is the leading owner and operator of senior living communities throughout the United States. The company owns and operates independent living, assisted living, dementia care, skilled nursing and continuing care retirement centers. In all, Brookdale operates 565 communities in 36 states with a capacity to serve approximately 53,600 residents, as well as operating a dedicated rehabilitation and therapy group serving its communities and residents nationwide. Brookdale is committed to providing exceptional living experiences within properties that are purpose-built, designed and operated to help residents live well while achieving an Optimum Life®. Brookdale Senior Living communities provide a daily experience of programs, services and care that are unique as a result of the collective talents and inspiration of the residents, their families, and its associates -- demonstrating Brookdale's promise of "Our People Make the Difference." Brookdale is a publicly-traded company . For more information, visit http://www.brookdaleliving.com/

    Contacts: Holly Botsford, Public Relations Manager, 414-918-5314, hbotsford@brookdaleliving.com Lynne Shofner, Regional Sales and Marketing Director, 214-621-9139, lshofner@brookdaleliving.com

    Brookdale Senior Living

    CONTACT: Holly Botsford, Public Relations Manager, +1-414-918-5314,
    hbotsford@brookdaleliving.com; Lynne Shofner, Regional Sales and Marketing
    Director, +1-214-621-9139, lshofner@brookdaleliving.com

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




    Carrier Source Inks Master Agent Agreement With New Edge Networks

    LAS VEGAS, March 1 /PRNewswire/ -- CHANNEL PARTNERS SHOW -- New Edge Networks, the managed services business communications unit of EarthLink Inc., is pleased to announce that Carrier Source, a leading one-stop telecommunications management company specializing in business services, has signed on as a Master Agent.

    By partnering with New Edge, Carrier Source and its subagents gain access to a fully managed MPLS network that can service 95% of business addresses in the U.S., in addition to New Edge's sales, engineering and project management support.

    Carrier Source specializes in retail business customers with 50 or more locations, many of which are looking to roll out, replace or grow their broadband connectivity storewide. Its client base is continually evaluating connectivity options to multiple chain store locations that can accommodate increasingly bandwidth-intensive applications with a high level network stability and reliability.

    "Our retail customers have gone beyond basic Point of Sale (POS) and credit card swipes over their WAN. Today's applications require more bandwidth, bandwidth guarantees and network stability. The fact that New Edge has completely upgraded its backbone to a true MPLS solution helps eliminate some of the inherent issues with DSL and helps mitigate PCI compliance issues. With New Edge's MPLS network, we can deliver and guarantee the bandwidth needed at the price points our retail customers require," stated Dave Jackson, Vice President of Business Development for Carrier Source.

    Carrier Source has also leveraged the New Edge EVDO wireless solution as a significant step in overcoming one of the biggest hurdles in deploying network connectivity within shopping malls. The company has found that by using New Edge's EVDO it can eliminate the local loop and all the wiring between the main mall D-MARC and the customer premise, not only shortening the install timeframe but also helping to reduce wiring charges.

    New Edge offers MPLS across a private EVDO wireless connection, which is a perfect fit for many retail locations, as well as an attractive backup network solution for customers in all industries. New Edge also has the unique ability to offer MPLS over ADSL, which provides a low cost solution for customers who have applications requiring a private network, but can not justify the expense of a T-1 network.

    As a New Edge Agent Partner, Carrier Source has access to New Edge's direct sales support to assist on any customer opportunity. "New Edge's channel neutral structure allows our team to partner with the New Edge direct sales force versus competing with them," explained Jackson. "This team sales approach is a distinct advantage of working with New Edge."

    New Edge Vice President of Agent Channel JR Cook added, "New Edge has seen a dramatic increase in activity from our Agents over the past year, especially in the Western region. With our nationwide MPLS network, we have been focusing on identifying premier partners on the east coast. The ability to partner with a Master Agent at the level of Carrier Source is a huge step in that direction. Their expertise in the Retail Sector makes them a perfect partner in a vertical industry in which New Edge already excels. Carrier Source's commitment to their customers also makes this a great fit."

    About New Edge Networks

    New Edge Networks provides managed IP-based based networks through a mix of private and public connections to deliver secure, managed network solutions. Connecting business sites at virtually any address in the United States, New Edge allows businesses to choose any blend of available access technologies - from DSL and T1 lines to fiber-optic connections - for building secure MPLS networks with performance guarantees managed over an award-winning portal. A wholly owned subsidiary of Atlanta-based EarthLink Inc., , New Edge is based in Vancouver, Wash. For more information visit http://www.newedgenetworks.com/ or call 1-360-693-9009.

    New Edge Networks

    CONTACT: Michele Sadwick of New Edge Networks, +1-404-748-7255,
    sadwick@corp.earthlink.net

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




    Tractor Supply Company Initiates Quarterly Cash Dividend Program For First Time In Company History

    BRENTWOOD, Tenn., March 1 /PRNewswire-FirstCall/ -- Tractor Supply Company , the largest retail farm and ranch store chain in the United States, today announced that its board of directors has declared an initial quarterly cash dividend of $0.14 per share of the Company's common stock. The commencement of the Company's first ongoing dividend program is reflective of the Company's growth and commitment to delivering shareholder value.

    Jim Wright, Chairman and Chief Executive Officer, stated, "The board's decision to initiate a quarterly cash dividend is a testament to our confidence in the Company's financial strength and our ability to generate solid cash flow from operations. Through our strategic plans and passion for delivering compelling products and excellent service to meet our customers' rural lifestyle needs, we have built momentum and have positioned our business very well for the future. This quarterly cash dividend, in addition to our share repurchase program, demonstrates our ongoing commitment to returning value to shareholders, while continuing to grow our store base and managing our balance sheet prudently."

    The declared $0.14 per share cash dividend will be paid on March 29, 2010 to stockholders of record as of the close of business on March 15, 2010.

    Tractor Supply Company expects quarterly dividends to be paid in March, June, September, and December. The Company anticipates a total annual dividend of $0.56 per share of common stock, or approximately $20 million in 2010 based on the current number of outstanding shares. The details of any future cash dividend declaration, including the amount of such dividend and the establishment of record and payment dates, will be determined by the board of directors, in its sole discretion, each quarter after its review of the Company's financial performance and other factors.

    About Tractor Supply Company

    At December 26, 2009, Tractor Supply Company operated 930 stores in 44 states. The Company's stores are focused on supplying the lifestyle needs of recreational farmers and ranchers. The Company also serves the maintenance needs of those who enjoy the rural lifestyle, as well as tradesmen and small businesses. Stores are located in towns outlying major metropolitan markets and in rural communities. The Company offers the following comprehensive selection of merchandise: (1) equine, pet and small animal products, including items necessary for their health, care, growth and containment; (2) hardware and seasonal products, including lawn and garden power equipment; (3) truck, towing and tool products; (4) work/recreational clothing and footwear for the entire family; (5) maintenance products for agricultural and rural use; and (6) home decor, candy, snack food and toys.

    Forward Looking Statements

    As with any business, all phases of the Company's operations are subject to influences outside its control. This press release contains certain forward-looking statements, including statements regarding expectations with respect to the timing and amount of future dividends and the Company's ability to fund the dividend. These forward-looking statements are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to the Company's financial results, and may be affected by certain risks and uncertainties, any one, or a combination, of which could materially affect the results of the Company's operations. The Board's expectation that dividends will be paid on a quarterly basis assumes that the Company's financial condition will permit payment under Delaware law, that the Company will generate sufficient cash flow to warrant the payment of a dividend and that the declaration and payment of cash dividends can be made in accordance with all applicable laws and agreements of the Company. Other factors include general economic conditions affecting consumer spending, the timing and acceptance of new products in the stores, the mix of goods sold, purchase price volatility (including inflationary and deflationary pressures), the ability to increase sales at existing stores, the ability to manage growth and identify suitable locations and negotiate favorable lease agreements on new and relocated stores, the availability of favorable credit sources, capital market conditions in general, failure to open new stores in the manner currently contemplated, the impact of new stores on our business, competition, weather conditions, the seasonal nature of our business, effective merchandising initiatives and marketing emphasis, the ability to retain vendors, reliance on foreign suppliers, the ability to attract, train and retain qualified employees, product liability and other claims, potential legal proceedings, management of our information systems, effective tax rate changes and results of examination by taxing authorities, and the ability to maintain an effective system of internal control over financial reporting. Forward-looking statements made by or on behalf of the Company are based on knowledge of its business and the environment in which it operates, but because of the factors listed above, actual results could differ materially from those reflected by any forward-looking statements. Consequently, all of the forward-looking statements made are qualified by these cautionary statements and those contained in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. There can be no assurance that the results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the Company or its business and operations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

    Tractor Supply Company

    CONTACT: Anthony F. Crudele, Chief Financial Officer, or Randy Guiler,
    Director, Investor Relations, +1-615-440-4000; or Investors, Cara O'Brien, or
    Erica Pettit, or Media, Samantha Cohen , all of Financial Dynamics ,
    +1-212-850-5600

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




    Legend Media to Present at the Rodman & Renshaw Annual China Investment Conference

    BEIJING, Mar. 1 /PRNewswire-Asia/ -- Legend Media (OTC Bulletin Board: LEGE) ("Legend Media" or "the Company"), a Chinese multi-media advertising company, today announced that Mr. Jeffrey Dash, Chief Financial Officer, will be presenting at the Rodman & Renshaw Annual China Investment Conference. This event will be held March 7 - 9, 2010 at The Regent Hotel in Beijing, China.

    The company is scheduled to present on Tuesday, March 9 from 8:35 - 9:00 a.m. For more information on the conference, please visit their website at http://www.rodm.com/conferences.com .

    About Legend Media Website: http://www.legend-media.com/

    Legend Media, Inc. (OTCBB:LEGE), headquartered in Beijing, is a leading China advertising company focused on selling advertising that reaches affluent consumers in China through major airline magazines and radio channels in key districts of China. The Company currently owns an exclusive sales agent contract for Expression, the airline magazine for Hainan Airlines Group (HNA Group). With the execution of the policy of building Hainan into an International Tourist Island, there will be more business opportunities for the airline magazine. What's more, the airline magazine is distributed to a network of the subsidiary hotels of HNA Group, which enables the airline magazine to reach 20 million direct readers and cover 30 million to 40 million readers indirectly per year.

    Aside from the main business, Legend Media owns two radio stations in Tianjin and Xi'an. The execution of the policy of developing the Ring Bohai Economic Cirle brings Tianjin opportunities to further develop, enabling radio media to have great growth potential. Xi'an is an old city in China and with the development of Xi'an economy, the radio business of Xi'an will have new business opportunities.

    Legend Media will continue to develop a sales network and strive to cover and eventually reach the most valuable direct advertisers in China and expand the sales business of the Company through the acquisition of new and good-quality media.

    Safe Harbor Statement

    This press release contains certain statements that may include 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes, expects, anticipate, optimistic, intend, will" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

    For more information, please contact: Lauren Milner American Capital Ventures Tel: +1-305-918-7000 Email: info@amcapventures.com Web: http://www.amcapventures.com/

    Legend Media, Inc.

    CONTACT: Lauren Milner, +1-305-918-7000, info@amcapventures.com, of
    American Capital Ventures

    Web site: http://www.amcapventures.com/
    http://www.rodm.com/conferences.com




    ATS Medical Announces Fourth Quarter and Full Year 2009 Results-- Fourth quarter 2009 revenue increases 3.7% compared to the fourth quarter 2008 -- Annual revenue increases 15% for 2009 -- Company announces May 10, 2010, as date for its Analyst Day Meeting in New York City

    MINNEAPOLIS, March 1 /PRNewswire-FirstCall/ -- ATS Medical, Inc. , manufacturer and marketer of state-of-the-art cardiac surgery products and services, today reported financial results for its fourth quarter and full year ended December 31, 2009.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20040202/ATSILOGO) Fourth Quarter Results

    Revenue for the quarter was $18.7 million, or 3.7% higher, than the fourth quarter of 2008. On a constant currency basis, revenue growth for the fourth quarter was 2%. Without the effects of four more selling days in the fourth quarter of 2008, the impact of foreign currency translation and the discontinuance of the distribution of certain products in the third quarter of 2009, the Company's adjusted revenue growth was 5.9%. A reconciliation of the GAAP revenue growth percentage to this non-GAAP adjusted revenue growth percentage for the fourth quarter of 2009 is provided in a schedule accompanying this press release.

    Revenue from the Company's heart valve therapy products, consisting of mechanical valves, tissue valves and heart valve repair products, was up 6.3% on a year-over-year basis in the fourth quarter to $13.9 million. Mechanical heart valve revenue decreased 3.4% on a year-over-year basis in the fourth quarter to $11.3 million. Tissue heart valve revenue for the fourth quarter increased 201% from the prior year's quarter to $1.5 million. U.S. tissue heart valve revenue represented approximately 64% of the Company's worldwide tissue heart valve revenue during the quarter. Heart valve repair revenue was $1.1 million, an increase of 29.5% over the fourth quarter of 2008.

    Revenue from the Company's ATS CryoMaze® cryoablation products for the treatment of cardiac arrhythmias was $4.8 million, an increase of 2.6% compared to the $4.6 million in fourth quarter of 2008.

    Gross profit margin for the fourth quarter of 2009 was 64.3% vs. 65.7% in the fourth quarter of 2008. The year-over-year gross margin decline is primarily the result of shifts in geographic and product mix.

    Operating loss for the fourth quarter of 2009 was $2.8 million compared with an operating loss of $7.3 million in the fourth quarter of 2008. The GAAP net loss for the fourth quarter of 2009 was $3.5 million, or $0.05 per share, compared with $8.5 million, or $0.13 per share, in the fourth quarter of 2008. The operating and net losses for the fourth quarter of 2009 and 2008 included charges related to restructuring costs (2009) and legal settlement costs (2008) of $1.1 million and $7.5 million, respectively.

    The Company also had a non-GAAP loss before interest, taxes, depreciation and amortization (EBITDA) in the fourth quarter of 2009 of $1.4 million compared to an EBITDA loss of $6.3 million in the fourth quarter of 2008. A reconciliation of reported net loss to non-GAAP EBITDA for these periods is provided in a schedule accompanying this press release. The Company ended the fourth quarter with $14.2 million in cash and cash equivalents and generated positive cash flow from operations during the quarter.

    "While revenue growth from our mechanical heart valve and cryoablation products fell a bit below expectations in the fourth quarter as market growth rates slowed, we made significant progress on commercialization of the ATS 3f® Aortic Bioprosthesis and the development of our new product pipeline, which we believe will enable us to return to double digit growth by the end of 2010," said Michael Dale, President and Chief Executive Officer.

    Full Year 2009 Results

    Revenue for the full year 2009 increased 15.0% to $75.7 million compared to $65.8 million for 2008. On a constant currency basis revenue growth for 2009 was 17.1%. Heart valve therapy revenue grew 17.7% from $47.6 million in 2008 to $56.0 million in 2009 driven primarily by the expanded launch of the Company's tissue valve products. Revenue from our CryoMaze cryoablation products increased 11.8% to $18.9 million in 2009.

    Operating loss for 2009 was $3.7 million compared with an operating loss of $16.5 million for 2008. Net loss for 2009 was $6.3 million, or $0.09 per share, compared to $19.3 million, or $0.31 per share for 2008. Both the operating and net losses for 2009 and 2008 included non-recurring charges related to restructuring costs (2009) and legal settlement costs (2008) of $1.1 million and $7.5 million, respectively.

    The Company had non-GAAP earnings before interest, taxes, depreciation and amortization (EBITDA) of $2.0 million for the full year 2009 compared to an EBITDA loss of $10.3 million for the full year 2008. A reconciliation of reported net loss to non-GAAP EBITDA for these periods is provided in a schedule accompanying this press release.

    Recent Product Highlights and Upcoming Events Mechanical Heart Valves -- The Company plans to begin human feasibility studies of its proprietary Forcefield technology applied to the OpenPivot® mechanical heart valve in the second half of 2010. The Forcefield technology is designed to eliminate the need for chronic anticoagulant therapy with certain implantable devices through the use of electrical fields to modify the interaction between the blood and the device. Tissue Heart Valves -- In December 2009, the Company received CE Mark of its ATS 3f Enable Bioprosthesis for commercialization in the European Union. The Enable valve combines the ATS 3f Aortic Bioprosthesis with over eight years of proven clinical performance and a self-expanding Nitinol(TM) frame to hold the valve in its optimal position eliminating the need for conventional sutures. This design allows the Enable valve to be folded into a small diameter and placed through a minimally invasive incision. Commercialization of the first generation Enable valve will be limited to a controlled market release at select surgical centers in Europe. -- The Company expects to begin commercialization of its second generation Enable valve in the second half of 2010. The second generation Enable will provide the basis for expansion of the Enable platform into a full market release. -- The Company is continuing to develop its sutureless tissue valve technology for use in beating heart procedures based in part on the characteristics of the next generation Enable valves. First-in-human clinical studies of this novel technology is targeted to occur during 2010. European commercialization of a beating heart solution could occur within one to two years thereafter. Heart Valve Repair -- The Company expects to receive regulatory approval for an additional valve repair product in the second quarter of 2010. The additional product represents further expansion of the Company's annuloplasty repair product portfolio to meet broader clinical applications. Surgical Cryoablation -- The Company has completed protocol development and will begin selecting investigation sites for the CryoMaze study, a prospective, multi-center clinical study of its CryoMaze cryoablation products to study the safety and efficacy of the use of the products for the treatment of atrial fibrillation. The study will have one year follow-up with interim data points to validate the safety and efficacy of the CryoMaze products used to create the lesions of the gold-standard Cox-Maze III lesion sets. This is the first and only multicenter study to mandate the Cox-Maze III lesion set for the treatment of atrial fibrillation with an energy source. Analyst Day -- The Company announced it will host an Analyst Day meeting in New York City on Monday, May 10, 2010, at which senior management and key opinion leading physicians will speak about the Company's current and pipeline products. Specific details of the event will be provided in advance of the meeting and the meeting will be webcast. Debt Refinancing -- The Company also announced today it has received a commitment letter for term debt financing of approximately $30 million from one of its directors, Mr. Theodore C. Skokos, and The Ted and Shannon Skokos Foundation. This financing will be used to call and retire the Company's convertible debt and senior bank debt instruments totaling approximately $26 million as well as to provide general corporate working capital. The Company expects to close the financing during the second quarter of 2010. When the convertible debt is retired the Company expects to recognize a non-cash debt restructuring charge of approximately $4.5 to $5.0 million related to the unamortized discount on the convertible debt.

    "2010 will be an important year in many respects, perhaps most importantly because we will bring to market our first sutureless heart valve while also initiating our first human studies for both beating heart valve replacement and our Forcefield technology. Each of these solutions represents revolutionary initiatives that form the basis of our company's aspiration to market leadership. Commercial success in our markets is all about "advancing the standards" of cardiac surgery and we are confident our current products and very importantly our pipeline portfolio meets and exceeds these measures," commented Mr. Dale. "We look forward to sharing more details on our pipeline during our planned Analyst Day meeting in the second quarter."

    2010 Guidance

    For the full year 2010 the Company expects revenue in the range of $81 to $83 million, representing growth of approximately 7% to 10%. The low-end of the revenue growth rate is approximately 1% less than preliminary guidance the Company provided in January due to recent volatility in the U.S. dollar to Euro exchange rate. Gross margin is expected to be within a range of 65% to 67% based on current expectations for product and geographic mix. Operating expenses are expected to be between $59 and $62 million as we invest in our sales and marketing infrastructure to support the U.S. and European roll-out of our Enable tissue valve and in research and development as we advance our robust product pipeline.

    Conference Call Today

    ATS management will host a conference call today, March 1, 2010, at 5:00 p.m. ET to discuss its 2009 fourth quarter financial results and current corporate developments. The dial-in number for the conference call is 866-314-4483 for domestic participants and 617-213-8049 for international participants with a passcode of 32431390. A live webcast of the call can also be accessed at http://www.atsmedical.com/ by clicking on the Investors icon.

    A taped replay of the conference call will also be available beginning approximately one hour after the call's conclusion and will remain available for seven days. The replay can be accessed by dialing 888-286-8010 for domestic participants and 617-801-6888 for international callers, using the passcode 61737878.

    Disclosure of Non-GAAP Financial Measures

    ATS reports its financial results in accordance with generally accepted accounting principles ("GAAP"). In addition, from time to time, we include other measures in our releases which are not prepared in accordance with GAAP. Investors should consider these non-GAAP financial measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. Non-GAAP financial measures used by ATS may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies. In this release we have included disclosures of the adjusted percentage increase in revenue (adjusted revenue growth) for the fourth quarter of 2009 as well as earnings before interest, taxes, depreciation and amortization (EBITDA) , for the fourth quarter and full year periods of 2009 and 2008. Both of these disclosures are non-GAAP financial measures. We use both EBITDA and adjusted revenue growth rates in our internal analysis and review of our operational performance. We believe that these non-GAAP measures provide investors with useful information in comparing our operational performance over different periods. By using these non-GAAP measures we believe investors get a better picture of the performance of our underlying business. We have also included, as an attachment to this release, schedules which reconcile the percentage increase in revenue and the net loss reported in accordance with GAAP to the adjusted revenue growth percentage and EBITDA amounts presented above.

    About ATS Medical

    ATS Medical, Inc. is dedicated to 'Advancing The Standards' of cardiac surgery through the development, manufacturing and marketing of innovative products and services for the treatment of structural heart disease. ATS Medical serves the cardiac surgery community by focusing on two distinct but operationally synergistic market segments: heart valve disease therapy and surgical ablation of cardiac arrhythmias.

    ATS was originally founded to develop the ATS Open Pivot® Heart Valve as a new mechanical heart valve standard of care. Today the ATS Open Pivot Heart Valve is the preferred mechanical heart valve in many markets around the world and the fastest growing mechanical prosthesis in the market. Building on this legacy and addressing the largest market segment in heart valve therapy, the ATS 3f® brand encompasses an innovative tissue heart valve portfolio to address conventional open surgery requirements as well as the growing demand for less invasive sutureless based procedures. The ATS 3f® portfolio includes offerings at various stages including early product development, pivotal clinical trials, and market commercialization. Completing the portfolio in heart valve therapy is the ATS Simulus® annuloplasty product line. Simulus products assist the surgeon in repairing a patient's native heart valve as an alternative to replacement. Continuing ATS Medical's focus on serving the cardiac surgery community are the ATS CryoMaze® products for surgical cryoablation of cardiac arrhythmias. ATS CryoMaze® products are used by surgeons to treat patients suffering from cardiac arrhythmias, the largest and fastest growing form of structural heart disease in populations over 60 years of age. The ATS Medical web site is http://www.atsmedical.com/.

    Cautionary Statements

    This Press Release contains forward-looking statements that may include statements regarding intent, belief or current expectations of the Company and its management. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of important factors, including the results of clinical trials, the timing of regulatory approvals, the impact of pending healthcare reforms, regulatory actions, the terms of its outstanding debt obligations, competition, pricing pressures, supplier actions and management of growth. For a discussion of these and other risks and uncertainties that could affect the Company's activities and results, please refer to the Company's filings with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2008 and its most recent quarterly report on Form 10-Q.

    ATS Medical, Inc. Condensed Consolidated Statements of Operations (in thousands except per share amounts) --------------------------------------- (Unaudited) Quarter Ended Year Ended December 31, December 31, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- Net sales $18,699 $18,032 $75,710 $65,821 Cost of goods sold 6,668 6,190 26,821 25,267 ----- ----- ------ ------ Gross profit 12,031 11,842 48,889 40,554 Operating expenses: Sales and marketing 8,641 6,680 30,617 27,373 Research and development 2,776 1,864 8,863 8,215 General and administrative 2,560 2,310 9,905 10,509 Litigation settlement - 7,500 - 7,500 Amortization of intangibles 812 817 3,224 3,489 --- --- ----- ----- Total operating expenses 14,789 19,171 52,609 57,086 ------ ------ ------ ------ Operating loss (2,758) (7,329) (3,720) (16,532) Interest expense, net (639) (763) (2,696) (2,739) Other income (expense), net (110) (224) 391 413 ---- ---- --- --- Net loss before income taxes (3,507) (8,316) (6,025) (18,858) Income tax (expense) benefit 26 (197) (288) (481) --- ---- ---- ---- Net loss ($3,481) ($8,513) ($6,313) ($19,339) ======= ======= ======= ======== Net loss per share: Basic and diluted ($0.05) ($0.13) ($0.09) ($0.31) ====== ====== ====== ====== Weighted average number of shares outstanding: Basic and diluted 73,629 63,580 72,114 61,440 ====== ====== ====== ====== ATS Medical, Inc. Condensed Consolidated Balance Sheets (in thousands) -------------- December 31, December 31, 2009 2008 ---- ---- Assets Cash and short-term investments $14,235 $20,895 Accounts receivable 14,398 14,532 Inventories, net 20,814 20,208 Prepaid expenses 1,774 958 ----- ----- Total current assets 51,221 56,593 Property and equipment, net 7,659 7,031 Intangible assets 61,076 49,131 Other assets 1,299 2,226 ----- ----- Total assets $121,255 $114,981 ======== ======== Liabilities & shareholders' equity Accounts payable $4,995 $4,054 Accrued compensation 2,076 3,537 Current maturities of bank notes payable 2,646 2,646 Convertible senior notes payable 17,659 - Payable to CryoCath Technologies Inc. 1,910 Payable to CarboMedics Inc. - 4,500 Other accrued liabilities 2,894 1,970 ----- ----- Total current liabilities 30,270 18,617 Convertible senior notes payable - 17,533 Bank notes payable 1,323 3,969 Other long-term liabilities 790 287 Shareholders' equity 88,872 74,575 ------ ------ Total liabilities & shareholders' equity $121,255 $114,981 ======== ======== ATS Medical, Inc. Consolidated Condensed Statements of Cash Flow (in thousands) -------------- Year Ended December 31, ----------------------- 2009 2008 ---- ---- Operating activities Net loss ($6,313) ($19,339) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 5,262 5,623 Stock-based compensation expense 2,557 1,676 Deferred income taxes 261 192 Non-cash interest expense 768 743 Change in value of warrant liability and derivative liability bifurcated from convertible senior notes (34) (294) Changes in operating assets and liabilities (5,357) (1,005) ------ ------ Net cash used in operating activities (2,856) (12,404) Investing activities Maturities of short-term investments, net of purchases - 4,189 Payments for business acquisitions (2,000) (2,000) Purchases of property and equipment (2,414) (1,440) Other 460 - --- --- Net cash provided by (used in) investing activities (3,954) 749 Financing activities Payments on notes payable (2,646) (1,985) Net proceeds from issuance of common stock 2,781 23,943 Other (20) 162 --- --- Net cash provided by financing activities 115 22,120 Effect of foreign exchange rate changes 35 (50) --- --- Increase (decrease) in cash and cash equivalents ($6,660) $10,415 ======= ======= ATS Medical, Inc. Selected Revenue Information (Unaudited, in thousands) ------------------------- Quarter Ended Year Ended December 31, December 31, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- Heart valve therapy $13,871 $13,047 $56,015 $47,576 Surgical arrhythmia 4,764 4,643 18,881 16,888 Surgical tools & accessories 64 342 814 1,357 --- --- --- ----- Total revenue $18,699 $18,032 $75,710 $65,821 ======= ======= ======= ======= ATS Medical, Inc. Reconciliation of GAAP Revenue Growth Percentage to Non-GAAP Adjusted Revenue Growth Percentage (Unaudited) ----------- Quarter Ended December 31, 2009 ------------- GAAP revenue growth percentage, as reported 3.7% (Fourth quarter 2009 compared to fourth quarter 2008) Adjustments to GAAP revenue growth percentage for: Four more selling days in the fourth quarter of 2008 2.9% Impact of foreign currency translation (2.0%) Discontinuance of the distribution of certain products in the third quarter of 2009 1.3% --- Adjusted revenue growth percentage 5.9% === ATS Medical, Inc. Reconciliation of GAAP Net Loss to Non-GAAP EBITDA (Unaudited, in thousands) ------------------------- Quarter Ended Year Ended December 31, December 31, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- Net loss, as reported $(3,481) $(8,513) $(6,313) $(19,339) Adjustments to net loss: Interest expense 642 772 2,723 2,923 Income tax expense (benefit) (26) 197 288 481 Depreciation 621 476 2,037 2,134 Amortization of intangibles 812 817 3,224 3,489 --- --- ----- ----- Earnings (loss) before interest, taxes, depreciation and amortization (EBITDA) $(1,432) $(6,251) $1,959 $(10,312) ======= ======= ====== ========

    Photo: http://www.newscom.com/cgi-bin/prnh/20040202/ATSILOGO
    AP Archive: http://photoarchive.ap.org/
    PRN Photo Desk, photodesk@prnewswire.com ATS Medical, Inc.

    CONTACT: Michael Dale, President/CEO, +1-763-553-7736, or Michael
    Kramer, CFO, +1-763-557-2222, both of ATS Medical, Inc.; or investors, Parice
    Halbert, CFA of Westwicke Partners, +1-443-213-0500, for ATS Medical, Inc.

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




    Media Alert - World Energy and CMTA to Host Webinar: "Senate Bill 695: Competition in the California Energy Market"Complimentary webinar emphasizes steps California companies need to take now to benefit from reinstated Direct Access Service

    WORCESTER, MA, March 1 /PRNewswire-FirstCall/ -- World Energy Solutions, Inc. , a leading operator of online exchanges for energy and environmental commodities, and co-sponsor California Manufacturers & Technology Association (CMTA), an association geared to develop balanced laws, effective regulations and sound public policies to stimulate economic growth, will host a new webinar, "Senate Bill 695: Competition in the California Energy Market" on Wednesday, March 3, 2010 at 11:00 a.m. PT. This complimentary webinar will review the legislation that allows all non-residential customers to choose their energy service provider instead of remaining with their utility, as well as the critical steps that need to be taken now for companies to take advantage of this newly competitive market.

    WHO: Dorothy Rothrock, VP, Government Relations, CMTA Kenneth Ivanic, VP, Energy and Environmental Markets, World Energy WHAT: "Senate Bill 695: Competition in the California Energy Market" Webinar WHEN: Wednesday, March 3, 2010 at 11am PT/ 2pm ET WHERE: Learn more and register today at: http://www.worldenergy.com/knowledge_center/webinars/default.cfm?id=16 Overview:

    In October 2009, California Governor Arnold Schwarzenegger signed into law Senate Bill 695, re-establishing the competitive market for electricity in California by allowing all non-residential customers the option of choosing their Electricity Service Provider (ESP) via Direct Access (DA) service. DA service provides opportunity and choice for companies to engage in new electric supply options that may:

    - Provide cost savings and/or budget certainty - Manage energy costs - Mitigate risk - Offer "greener" electricity alternatives

    Many of the provisions of SB 695 have yet to be finalized, and the California Public Utility Commission (CPUC) is continuing to refine details about available load, how it is to be phased in, and customer enrollment. However, because the window for companies to take advantage of this opportunity is likely to be very short, with only a limited percentage of load available for DA, it is crucial that companies be well-informed and ready to act once the CPUC implements the phase-in period, which is expected to begin in early April 2010.

    Key takeaways: - The Benefits of Direct Access Service - The Key Points of Senate Bill 695 - How to Prepare for the Competitive Electricity Market - How World Energy can Help You Make the Most of your Next Energy Procurement About CMTA

    The California Manufacturers & Technology Association represents manufacturing and technology companies employing more than 1.5 million Californians. Our 700 members include aerospace, energy, steel, cement, chemical, pulp and paper, consumer products, food processors, biotech, electronics and information technology companies. Learn more at http://www.cmta.net/.

    About World Energy Solutions, Inc.

    World Energy (NASDAQ: XWES; TSX: XWE) operates online exchanges for energy and green commodities. For buyers and sellers of electricity, natural gas, capacity, demand response, and green-energy assets, World Energy's proven approach has transformed the normally complex procurement process into a powerful, streamlined vehicle for cost savings. In addition to enabling customers to seek competitive pricing on traditional energy commodities, World Energy is taking a leadership position in the emerging environmental-commodities markets. Its award-winning World Green Exchange(R) supports the ground-breaking Regional Greenhouse Gas Initiative's (RGGI) cap and trade program for CO2 emissions. For more information, please visit http://www.worldenergy.com/.

    This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to: our revenue is dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; there are factors outside our control that affect transaction volume in the electricity market; and there are other factors identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.

    World Energy Solutions, Inc.



    Onyx Pharmaceuticals to Present at the Cowen and Company 30th Annual Health Care Conference

    EMERYVILLE, Calif., March 1 /PRNewswire-FirstCall/ -- Onyx Pharmaceuticals, Inc. today announced that it will present at the Cowen and Company 30th Annual Health Care Conference on Monday, March 8, 2010 at 1:45 p.m. Eastern Time (10:45 a.m. Pacific Time). Interested parties may access a live webcast of the presentation on our website at:

    http://www.onyx-pharm.com/view.cfm/32/Event-Calendar

    It is recommended that listeners log on 15 minutes early in order to register and download any necessary software. For those unable to participate during the live webcast, a recorded replay of the presentation will be available within 24 hours of the completion of the presentation through March 22, 2010.

    About Onyx Pharmaceuticals, Inc.

    Onyx Pharmaceuticals, Inc. is a biopharmaceutical company committed to improving the lives of people with cancer. The company, in collaboration with Bayer HealthCare Pharmaceuticals, Inc., is developing and marketing Nexavar® (sorafenib) tablets, a small molecule drug that is currently approved for the treatment of liver cancer and advanced kidney cancer. Additionally, Nexavar is being investigated in several ongoing trials in a variety of tumor types. Beyond Nexavar, Onyx has established a development pipeline of anticancer compounds at various stages of clinical testing, including carfilzomib, a next-generation proteasome inhibitor, that is currently being evaluated in multiple clinical trials for the treatment of patients with relapsed or relapsed/refractory multiple myeloma and solid tumors, and ONX 0801, a targeted alpha-folate inhibitor, currently in Phase 1 testing. For more information about Onyx, visit the company's website at http://www.onyx-pharm.com/.

    Nexavar® (sorafenib) tablets is a registered trademark of Bayer HealthCare Pharmaceuticals, Inc.

    Onyx Pharmaceuticals, Inc.

    CONTACT: Alex Santos, +1-510-597-6504, for Onyx Pharmaceuticals, Inc.

    Web Site: http://www.onyx-pharm.com/




    Cenveo Announces Conference Call for Fourth Quarter and Year-End Results

    STAMFORD, Conn., March 1 /PRNewswire-FirstCall/ -- Cenveo, Inc. announced today that it will be hosting a conference call at 10:00 a.m. Eastern Time on Thursday, March 4th, to discuss the company's fourth quarter and year-end results. A live webcast of the call will be accessible on Cenveo's website: http://www.cenveo.com/.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20070618/CENVEOLOGO)

    Cenveo , headquartered in Stamford, Connecticut, is a leader in the management and distribution of print and related products and solutions. The Company provides its customers with low-cost alternatives within its core businesses of labels and forms manufacturing, packaging and publisher offerings, envelope production, and printing; supplying one-stop solutions from design through fulfillment. Cenveo delivers everyday for its customers through a network of production, fulfillment, content management, and distribution facilities across the globe.

    Inquiries from analysts and investors should be directed to Robert G. Burton, Jr. at (203) 595-3005.

    Photo: http://www.newscom.com/cgi-bin/prnh/20070618/CENVEOLOGO
    AP Archive: http://photoarchive.ap.org/
    PRN Photo Desk, photodesk@prnewswire.com Cenveo, Inc.

    CONTACT: Analysts and Investors, Robert G. Burton, Jr. of Cenveo, Inc.,
    +1-203-595-3005

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




    Landstar to Participate in Raymond James' 31st Annual Institutional Investors Conference and J.P. Morgan's Aviation, Transportation and Defense Conference

    JACKSONVILLE, Fla., March 1 /PRNewswire-FirstCall/ -- Landstar System, Inc., a non-asset based provider of integrated supply chain solutions delivering safe, specialized transportation, warehousing and logistics services, announced today its participation in Raymond James' 31st Annual Institutional Investors Conference at the JW Marriott Grande Lakes in Orlando, Florida. Landstar Chairman, President and CEO Henry Gerkens and Landstar Vice President and CFO Jim Gattoni will present an overview of the Company, including its variable cost non-asset-based business model, 2009 financial results and future outlook. Landstar's presentation begins at 2:50 p.m. on Monday, March 8th. It will be broadcast live via the Internet at http://www.landstar.com/; click on "Investor Relations", and then "Webcasts". The Raymond James presentation will be available on Landstar's website through March 15th.

    Landstar also announced its participation in J.P. Morgan's Aviation, Transportation and Defense Conference in New York, New York. Once again, Landstar Chairman, President and CEO Henry Gerkens and Landstar Vice President and CFO Jim Gattoni will present an overview of the Company, including its variable cost non-asset based business model, 2009 financial results and future outlook. Landstar's presentation begins at 2:00 p.m. on Wednesday, March 10th. It will be broadcast live via the Internet at http://www.landstar.com/; click on "Investor Relations" and then "Webcasts". The J.P. Morgan presentation will be available on Landstar's website through March 17th. For more information about the presentation or webcast, please contact Landstar's Investor Relations Department at 904-390-1530 or email staylor@landstar.com.

    About Landstar:

    Landstar System, Inc. is a non-asset based provider of integrated supply chain solutions. Landstar delivers safe, specialized transportation, warehousing and logistics services to a broad range of customers worldwide utilizing a network of agents, third-party capacity owners and employees. All Landstar transportation companies are certified to ISO 9001:2000 quality management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. Its common stock trades on The NASDAQ Stock Market® under the symbol LSTR.

    Landstar System, Inc.

    CONTACT: Jim Gattoni of Landstar System, Inc., +1-904-398-9400

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




    McGraw-Hill Education Solutions Nominated for Two 2010 CODiE AwardsGradeGuru.com Nominated for Best Educational Use of a Technology Device; Acuity InFormative Assessment Nominated for Best Student Assessment Solution

    NEW YORK, March 1 /PRNewswire/ -- McGraw-Hill Education, a global education company, today announced that two of its learning solutions, GradeGuru.com and Acuity® InFormative(TM) Assessment, are nominated for a Software & Information Industry Association (SIIA) CODiE Award in Education.

    GradeGuru (http://www.gradeguru.com/) is a free knowledge sharing network where college students can share their study materials, engage in collaborative learning and get peer-feedback while building their online academic profiles for internships and career opportunities. GradeGuru's university and class specific communities are providing a relevant and intuitive social learning environment for thousands of students from more than 300 universities.

    GradeGuru is one of three finalists for the Best Educational Use of a Technology Device, which recognizes the best educational software solution, either curriculum or administrative, designed for technology hardware devices. The nominees in this category were selected by a number of university professors and education technology experts.

    "This is such a great honor for us, and all the more important because experienced educators, who know what it takes to engage students, judged GradeGuru a worthy finalist," said Emily Sawtell, director of student innovations for McGraw-Hill Education.

    Acuity InFormative Assessment is a CTB/McGraw-Hill (http://www.acuityforschool.com/) solution featuring easy-to-use assessments, reports, instructional resources, and customization tools aligned to a state's standards and designed to help educators boost student achievement. Acuity Assessments can be easily delivered online, via paper and pencil, or using student response devices with the new Acuity UnWired(TM) software. Test items also can be automatically imported from ExamView® Item Banks.

    This powerful, formative and interim system is a finalist for the Best Student Assessment Solution, which awards the best stand-alone, computer-based, or online solution for high-stakes assessments/preparation for high-stakes tests at the K-12 or postsecondary levels.

    "As our industry evolves and new digital tools are introduced to help make learning more engaging, effective and efficient, online, formative assessment has never been more important," said Ellen Haley, president of CTB/McGraw-Hill. "Educators and their school districts need to understand the progression of individual student achievement, as well as achievement as a whole, to develop the most specialized instructional programs possible while meeting the standards set forth by their state."

    The nominees will be reviewed by members of SIIA, who will vote on the winners beginning on Tuesday, March 2nd. Winners will be announced at a special CODiE Awards dinner on May 24, 2010, which will be held in conjunction with the 2010 Ed Tech Industry Summit in San Francisco.

    "This is the twenty-fifth year we have recognized excellence through the CODiE Awards program," noted Ken Wasch, president of SIIA. "In this economic climate, companies are doing even more to innovate. GradeGuru and Acuity InFormative Assessment have demonstrated a commitment to innovation and quality that is reflected in their selection as a finalist for the CODiE Awards. I am pleased and proud to have them listed among the candidates, and I wish them the best in the final round of voting."

    About McGraw-Hill Education

    McGraw-Hill Education (http://www.mheducation.com/), a division of The McGraw-Hill Companies, is a premier provider of teaching and learning solutions for the 21st century. Through a comprehensive range of traditional and digital education content and tools, McGraw-Hill Education empowers educators and prepares professionals and students of all ages to connect, learn and succeed in the global economy. McGraw-Hill Education, a division of The McGraw-Hill Companies , has offices in 33 countries and publishes in more than 65 languages. Additional information is

    About SIIA

    The Software & Information Industry Association (SIIA) is the principal trade associations for the software and digital content industry. SIIA provides global services in government relations, business development, corporate education and intellectual property protection to 500 leading software and information companies. For further information, visit http://www.siia.net/.

    Media Contact: Tom Stanton McGraw-Hill Education (212) 904-3214 Tom_Stanton@McGraw-Hill.com

    McGraw-Hill Education; GradeGuru.com

    CONTACT: Tom Stanton, McGraw-Hill Education, +1-212-904-3214,
    Tom_Stanton@McGraw-Hill.com

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




    Ralphs Grocery Company Fundraising Campaign to Benefit Children's Hospitals

    LOS ANGELES, March 1 /PRNewswire/ -- Ralphs Grocery Company is pleased to announce that it is raising funds to support children's hospitals in Southern California.

    Customers and team members can support their local children's hospital through the supermarket chain's nonprofit arm, The Ralphs Fund, by donating spare change in collection canisters located at the checkstands in their neighborhood Ralphs supermarket. The children's hospitals fund-raising campaign runs from February 28 through May 22, 2010.

    Southern California children's hospitals that will benefit from the fundraising drive include:

    -- Children's Hospital of Orange County (CHOC) -- Childrens Hospital Los Angeles -- Loma Linda University Children's Hospital -- Mattel Children's Hospital UCLA -- Miller Children's Hospital (Long Beach) -- Rady Children's Hospital (San Diego)

    "Ralphs believes strongly in giving back to the communities our stores serve," said Mike Donnelly, Ralphs president. "We're pleased to extend our commitment of community service to local children's hospitals. We cannot think of a better way to invest in our communities than by giving families and children hope through our support of the outstanding work these hospitals are doing to provide world-class medical care for children."

    Since 2005, Ralphs, its team members and customers have given more than $1 million dollars to children's hospitals in Southern California.

    "Our ability to support the great work being done by our Southern California children's hospitals is a direct result of the dedication of our team members and the generosity of our customers," Donnelly said. "Even during this time of economic uncertainty, Ralphs is proud to be able to continue to help children and families have a healthy future."

    Last year, Ralphs provided more than $8 million in cash and in-kind donations to organizations focused on health, education, the fight against hunger, developing our youth, and the environment.

    Ralphs Grocery Company was founded in 1873 and currently operates 258 supermarkets from its headquarters in Los Angeles. The company is a division of The Kroger Co., , one of the nation's largest food retailers, based in Cincinnati, Ohio. For more about Ralphs, please visit our web site at http://www.ralphs.com/.

    Ralphs Grocery Company

    CONTACT: Kendra Doyel of Ralphs Grocery Company, +1-310-884-4141

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




    Warner Chilcott to Present at the RBC Capital Markets Healthcare Conference

    ARDEE, Ireland, March 1 /PRNewswire-FirstCall/ -- Warner Chilcott plc announced today that it will present at the RBC Capital Markets Healthcare Conference on Wednesday, March 3, 2010 at 11:00 a.m. EST. Presenting for Warner Chilcott will be Paul Herendeen, Executive Vice President and Chief Financial Officer.

    Warner Chilcott's presentation will be webcast live for all interested parties at http://www.wcrx.com/ under the Investor Relations tab. An archived version of the webcast will be available for two weeks following the live presentation.

    The Company

    Warner Chilcott is a leading specialty pharmaceutical company currently focused on the gastroenterology, women's healthcare, dermatology and urology segments of the North American and Western European pharmaceuticals markets. The Company is a fully integrated company with internal resources dedicated to the development, manufacturing and promotion of its products. WCRX-G.

    Warner Chilcott plc

    CONTACT: Rochelle Fuhrmann, Investor Relations, +1-973-442-3281,
    rfuhrmann@wcrx.com

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




    Cardinal Pipeline Signs Contracts to Serve North Carolina Natural Gas Growth

    HOUSTON, March 1 /PRNewswire-FirstCall/ -- Cardinal Pipeline Company, LLC announced today that it has executed precedent agreements to increase the pipeline's firm transportation capacity by 199,000 dekatherms per day. The pipeline will transport additional natural gas supplies to serve growing markets served by Piedmont Natural Gas Company, Inc. , and Public Service Company of North Carolina from an interconnect with Williams Partners L.P.'s Transco pipeline.

    The $39 million Cardinal System Expansion project is scheduled to be placed into service in July 2012. The expansion has been designed to serve growth on Piedmont's and PSNC Energy's distribution systems, including an expansion on Piedmont's system to serve Progress Energy Carolinas' planned new state-of-the-art gas-fired power generation facility in Wayne County, N.C.

    "This Cardinal Pipeline expansion represents a key link in the transportation path providing clean-burning, abundant, domestic natural gas to growing energy markets in North Carolina," the project sponsors said in a statement.

    Cardinal Pipeline is a 105-mile, 24-inch diameter pipeline that extends from Rockingham County, N.C., to a point southeast of Raleigh, N.C., with a design capacity of approximately 279,000 dekatherms per day. The pipeline is a North Carolina limited liability company whose members are wholly owned subsidiaries of Williams Partners L.P., PSNC Energy and Piedmont.

    About Williams Partners L.P.

    Williams Partners L.P. is a leading diversified master limited partnership focused on natural gas transportation; gathering, treating, and processing; storage; natural gas liquid (NGL) fractionation; and oil transportation. The partnership owns interests in three major interstate natural gas pipelines that, combined, deliver 12 percent of the natural gas consumed in the United States. The partnership's gathering and processing assets include large-scale operations in the U.S. Rocky Mountains and both onshore and offshore along the Gulf of Mexico. Williams owns approximately 84 percent of Williams Partners, including the general-partner interest. More information is available at http://www.williamslp.com/. Go to http://www.b2i.us/irpass.asp?BzID=1296&to=ea&s=0 or http://www.b2i.us/irpass.asp?BzID=630&to=ea&s=0 to join our e-mail list.

    About Piedmont

    Piedmont Natural Gas is an energy services company primarily engaged in the distribution of natural gas to more than one million residential, commercial and industrial utility customers in North Carolina, South Carolina and Tennessee, including 61,000 customers served by municipalities who are wholesale customers. Our subsidiaries are invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, interstate natural gas storage and intrastate natural gas transportation. Additional information about Piedmont is available on the Internet at www.piedmontng.com.

    About PSNC

    PSNC Energy, headquartered in Gastonia, N.C., is franchised to serve a 28-county service area in North Carolina. The utility distributes natural gas to approximately 473,000 customers in 96 cities and communities, including the Raleigh, Durham, and Chapel Hill areas in the north central part of the state; the Concord, Statesville, Gastonia, and Forest City areas in the Piedmont; and the Asheville, Hendersonville, Brevard, and Sylva areas in the western part of the state. More information about PSNC Energy is available through the company's Web site at www.psncenergy.com.

    Contact: Chris Stockton Williams (media relations) (713) 215-2010 Sharna Reingold Williams (investor relations) (918) 573-2078

    This press release may include "forward-looking statements" as defined by federal law. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the Partnership based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Partnership, which may cause our actual results to differ materially from those implied or expressed by the forward-looking statements. Additional information about issues that could lead to material changes in performance is contained in the Partnership's annual and quarterly reports filed with the Securities and Exchange Commission.

    Cardinal Pipeline Company, LLC

    CONTACT: Media, Chris Stockton, +1-713-215-2010, or Investor Relations,
    Sharna Reingold, +1-918-573-2078, both of Williams

    page 1     page 2     page 3     page 4     page 5     page 6     page 7     page 8     page 9     page 10     page 11     page 12     page 13     page 14     page 15    

    News archive of August 2017
    1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  25  26  27  28  29  30  31 



    News Archives of March 2010
    1   2   3   4   5   6   7   8   9   10   11   12   13   14   15   16   17   18   19   20   21   22   23   24   25   26   27   28   29   30   31  

    News Archives other dates
        2017:   Jan     Feb     Mar     Apr     May     Jun     Jul     Aug     Sep     Oct     Nov     Dec    
        2016:   Jan     Feb     Mar     Apr     May     Jun     Jul     Aug     Sep     Oct     Nov     Dec    
        2015:   Jan     Feb     Mar     Apr     May     Jun     Jul     Aug     Sep     Oct     Nov     Dec    
        2014:   Jan     Feb     Mar     Apr     May     Jun     Jul     Aug     Sep     Oct     Nov     Dec    
        2013:   Jan     Feb     Mar     Apr     May     Jun     Jul     Aug     Sep     Oct     Nov     Dec    
        2012:   Jan     Feb     Mar     Apr     May     Jun     Jul     Aug     Sep     Oct     Nov     Dec    
        2011:   Jan     Feb     Mar     Apr     May     Jun     Jul     Aug     Sep     Oct     Nov     Dec    
        2010:   Jan     Feb     Mar     Apr     May     Jun     Jul     Aug     Sep     Oct     Nov     Dec    
        2009:   Jan     Feb     Mar     Apr     May     Jun     Jul     Aug     Sep     Oct     Nov     Dec    
        2008:   Jan     Feb     Mar     Apr     May     Jun     Jul     Aug     Sep     Oct     Nov     Dec    
        2007:   Jan     Feb     Mar     Apr     May     Jun     Jul     Aug     Sep     Oct     Nov     Dec    
        2006:   Jan     Feb     Mar     Apr     May     Jun     Jul     Aug     Sep     Oct     Nov     Dec    
  •  
    0-C     D-L     M-R     S-Z