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		<title>Inhibitex (INHX) Successfully Completes Phase 1a Trial of INX-189</title>
		<link>http://traderpower.com/inhibitex-inhx-successfully-completes-phase-1a-trial-of-inx-189/</link>
		<comments>http://traderpower.com/inhibitex-inhx-successfully-completes-phase-1a-trial-of-inx-189/#comments</comments>
		<pubDate>Wed, 01 Sep 2010 19:30:02 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://traderpower.com/?p=3462</guid>
		<description><![CDATA[ATLANTA&#8211;(BUSINESS WIRE)&#8211;Inhibitex, Inc. (Nasdaq: INHX &#8211; News), announced today that it  has successfully completed a Phase1a, first-in-man, single ascending dose trial  of INX-189, its nucleotide polymerase inhibitor in development for the treatment  of chronic hepatitis C (HCV) infections. In this trial, 42 healthy volunteers  received either a single oral dose of [...]]]></description>
			<content:encoded><![CDATA[<p>ATLANTA&#8211;(BUSINESS WIRE)&#8211;Inhibitex, Inc. (Nasdaq: <a href="http://finance.yahoo.com/q?s=inhx&amp;d=t">INHX</a> &#8211; <a href="http://finance.yahoo.com/q/h?s=inhx">News</a>), announced today that it  has successfully completed a Phase1a, first-in-man, single ascending dose trial  of INX-189, its nucleotide polymerase inhibitor in development for the treatment  of chronic hepatitis C (HCV) infections. In this trial, 42 healthy volunteers  received either a single oral dose of INX-189, ranging from 3 mg to 100 mg, or  placebo. The Company plans to present detailed results from this trial during a  future scientific meeting. Preliminary data from the trial are as follows:</p>
<ul>
<li>INX-189 was generally well tolerated at all  dose levels;</li>
<li>No drug-related serious adverse events;</li>
<li>No dose-related trends in frequency or type of  adverse events; adverse events occurring in more than one subject were headache  and nasal congestion;</li>
<li>No grade II or higher laboratory abnormality  adverse events or clinically significant changes in ECGs; and</li>
<li>Pharmacokinetic data supports INX-189’s  potential for once daily (QD) dosing.</li>
</ul>
<p>“We are encouraged with the initial safety and pharmacokinetic profile of  INX-189 in this first-in-man trial,” stated Dr. Joseph Patti, Senior Vice  President and Chief Scientific Officer of Inhibitex, Inc. “Based upon the  pharmacokinetics observed in this study, we continue to believe that INX-189 has  the potential to demonstrate antiviral activity with a low once-daily dose, and  we look forward to assessing its ability to reduce HCV RNA viral loads in  patients with chronic hepatitis C in a Phase 1b multiple ascending dose trial we  plan to start in the fourth quarter.”</p>
<p><strong>About Inhibitex</strong></p>
<p>Inhibitex, Inc., headquartered in Alpharetta, Georgia, is a biopharmaceutical  company focused on developing products to prevent and treat serious infectious  diseases. The Company’s pipeline includes FV-100, which is in Phase II clinical  development for the treatment of shingles, and INX-189, a nucleotide polymerase  inhibitor in development for the treatment of chronic hepatitis C infections.  The Company also has additional HCV nucleotide polymerase inhibitors in  preclinical development and has licensed the use of its proprietary  MSCRAMM<sup>®</sup> protein platform to Pfizer for the development of  staphylococcal vaccines. For additional information about the Company, please  visit <a href="http://us.lrd.yahoo.com/SIG=169tqlmtd/**http%3A//cts.businesswire.com/ct/CT%3Fid=smartlink%26url=http%253A%252F%252Fwww.inhibitex.com%26esheet=6414362%26lan=en-US%26anchor=www.inhibitex.com%26index=1%26md5=6ca5e3f4a8aebc5eba94dbad05c76f67">www.inhibitex.com</a>.</p>
<p><strong>Safe Harbor Statement</strong></p>
<p>This press release contains forward-looking statements within the meaning of  the Private Securities Litigation Reform Act of 1995 that involve substantial  risks and uncertainties. All statements, other than historical facts included in  this press release, including statements regarding the Company’s plans to  present detailed results from the Phase 1a trial during a future medical meeting  and its intention to initiate a Phase 1b multiple ascending dose trial in the  fourth quarter of 2010 are forward looking statements. These intentions,  expectations, or results may not be achieved in the future and various important  factors could cause actual results or events to differ materially from the  forward-looking statements that the Company makes, including the risk of: either  the Company, the FDA, a data and safety monitoring board, or an investigational  review board delaying, suspending or terminating the clinical development of  INX-189 for a lack of safety or antiviral activity, manufacturing-related  issues, questions or issues regarding the design of the planned Phase 1b  clinical study of INX-189, or any other reasons; the Company obtaining,  maintaining and protecting the intellectual property incorporated into and  supporting the commercial viability of INX-189; and other cautionary statements  contained elsewhere herein and in its Annual Report on Form 10-K for the year  ended December 31, 2009, as filed with the Securities and Exchange Commission,  or SEC, on March 26, 2010, and its Quarterly Report on Form 10-Q for the quarter  ended June 30, 2010, as filed with the SEC on August 12, 2010. Given these  uncertainties, you should not place undue reliance on these forward-looking  statements, which apply only as of the date of this press release.</p>
<p>There may be events in the future that the Company is unable to predict  accurately, or over which it has no control. The Company&#8217;s business, financial  condition, results of operations and prospects may change. The Company may not  update these forward-looking statements, even though its situation may change in  the future, unless it has obligations under the Federal securities laws to  update and disclose material developments related to previously disclosed  information. The Company qualifies all of the information contained in this  press release, and particularly its forward-looking statements, by these  cautionary statements.</p>
<p>Inhibitex<sup>®</sup> and MSCRAMM<sup>® </sup>are registered trademarks of  Inhibitex, Inc.</p>
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		<title>JoS. A. Bank Clothiers (JOSB) Reports 32% Increase in Profits for Second Quarter of Fiscal Year 2010</title>
		<link>http://traderpower.com/jos-a-bank-clothiers-josb-reports-32-increase-in-profits-for-second-quarter-of-fiscal-year-2010/</link>
		<comments>http://traderpower.com/jos-a-bank-clothiers-josb-reports-32-increase-in-profits-for-second-quarter-of-fiscal-year-2010/#comments</comments>
		<pubDate>Wed, 01 Sep 2010 19:29:23 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://traderpower.com/?p=3460</guid>
		<description><![CDATA[Sep. 1, 2010 (Business Wire) &#8212; JoS. A. Bank Clothiers, Inc. (Nasdaq Global  Select Market: JOSB) announces that net income for the second quarter of fiscal  year 2010 increased 31.7% to $16.5 million, as compared to $12.5 million for the  second quarter of fiscal year 2009. Earnings per share for the second [...]]]></description>
			<content:encoded><![CDATA[<p>Sep. 1, 2010 (Business Wire) &#8212; JoS. A. Bank Clothiers, Inc. (Nasdaq Global  Select Market: JOSB) announces that net income for the second quarter of fiscal  year 2010 increased 31.7% to $16.5 million, as compared to $12.5 million for the  second quarter of fiscal year 2009. Earnings per share for the second quarter of  fiscal year 2010 increased 31.1% to $0.59 per share, as compared to $0.45 per  share for the second quarter of fiscal year 2009. The second quarter of fiscal  year 2010 ended July 31, 2010; the second quarter of fiscal year 2009 ended  August 1, 2009.</p>
<p>All earnings per share amounts in this news release represent diluted  earnings per share. All share and per share amounts of common shares included in  this release have been adjusted to reflect the stock split in the form of a 50%  stock dividend distributed on August 18, 2010.</p>
<p>Total sales for the second quarter of fiscal year 2010 increased 12.3% to  $188.4 million from $167.7 million in the second quarter of fiscal year 2009,  while comparable store sales increased 9.2% and Direct Marketing sales increased  12.4%.</p>
<p>“We are pleased with the Company’s financial performance for the second  quarter of fiscal year 2010,” commented R. Neal Black, President and CEO of JoS.  A. Bank Clothiers, Inc. “Our combination of offering high quality men’s clothing  at a great value continued to drive solid sales growth for the quarter, which,  combined with the leveraging of our operating expenses, has resulted in strong  earnings growth. With this quarter’s results, we have achieved earnings growth  in 35 of the past 36 quarters when compared to the respective prior year  periods, including 17 quarters in a row,” continued Mr. Black.</p>
<p>Comparing the first six months of fiscal year 2010 with the first six months  of fiscal year 2009, net income increased 34.7% to $32.3 million, as compared to  $24.0 million and earnings per share increased 34.9% to $1.16 per share, as  compared to $0.86 per share. Total sales for the first six months of fiscal year  2010 increased 11.2% to $366.5 million from $329.7 million for the first six  months of fiscal year 2009, while comparable store sales increased 9.8% and  Direct Marketing sales increased 5.6%.</p>
<p><strong>A conference call to discuss the second quarter of fiscal year 2010  earnings will be held Thursday, September 2, 2010 at 11:00 a.m. Eastern Time  (ET). To join in the call please dial (USA) 800-230-1951 or (International)  612-288-0337 at least five minutes before 11:00 a.m. ET. A replay of the  conference call will be available after 1:00 p.m. ET on September 2, 2010 until  September 9, 2010 at 11:59 p.m. ET by dialing (USA) 800-475-6701 or  (International) 320-365-3844. The access code for the replay will be 169693.</strong> <strong>In addition, a webcast replay of the conference call will be posted on the  investor relations section of our website: </strong>www.josbank.com<strong> (select  “Company Information” and “Investor Relations”).</strong></p>
<p>JoS. A. Bank Clothiers, Inc., established in 1905, is one of the nation’s  leading designers, manufacturers and retailers of men’s classically-styled  tailored and casual clothing, sportswear, footwear and accessories. The Company  sells its full product line through 490 stores in 42 states and the District of  Columbia, a nationwide catalog and an e-commerce website that can be accessed at  www.josbank.com. The Company is headquartered in Hampstead, Md., and its common  stock is listed on the Nasdaq Global Select Market under the symbol “JOSB.”</p>
<p>The Company&#8217;s statements concerning future operations contained herein are  forward-looking statements within the meaning of the Private Securities  Litigation Reform Act of 1995. Actual results may differ materially from those  forecast due to a variety of factors outside of the Company&#8217;s control that can  affect the Company&#8217;s operating results, liquidity and financial condition. Such  factors include risks associated with economic, weather, public health and other  factors affecting consumer spending, including negative changes to consumer  confidence and other recessionary pressures, higher energy and security costs,  the successful implementation of the Company&#8217;s growth strategy, including the  ability of the Company to finance its expansion plans, the mix and pricing of  goods sold, the effectiveness and profitability of new concepts, the market  price of key raw materials such as wool and cotton, seasonality, merchandise  trends and changing consumer preferences, the effectiveness of the Company&#8217;s  marketing programs, the availability of suitable lease sites for new stores,  doing business on an international basis, the ability to source product from its  global supplier base, legal matters and other competitive factors. The  identified risk factors and other factors and risks that may affect the  Company&#8217;s business or future financial results are detailed in the Company&#8217;s  filings with the Securities and Exchange Commission, including the Company&#8217;s  Annual Report on Form 10-K for the year ended January 30, 2010 and the Company&#8217;s  subsequent Quarterly Reports on Form 10-Q filed through the date hereof. These  cautionary statements qualify all of the forward-looking statements the Company  makes herein. The Company cannot assure you that the results or developments  anticipated by the Company will be realized or, even if substantially realized,  that those results or developments will result in the expected consequences for  the Company or affect the Company, its business or its operations in the way the  Company expects. The Company cautions you not to place undue reliance on these  forward-looking statements, which speak only as of their respective dates. The  Company does not undertake an obligation to update or revise any forward-looking  statements to reflect actual results or changes in the Company&#8217;s assumptions,  estimates or projections. These risks should be carefully reviewed before making  any investment decision.</p>
<table id="t6414211_1" border="0" cellspacing="0">
<tbody>
<tr>
<td colspan="7"></td>
</tr>
<tr>
<td id="t6414211_1_1_9764" colspan="7"><strong>JOS. A. BANK CLOTHIERS, INC. AND SUBSIDIARIES</strong></td>
</tr>
<tr>
<td id="t6414211_1_2_9764" colspan="7"><strong>Condensed Consolidated Balance Sheets</strong></td>
</tr>
<tr>
<td id="t6414211_1_3_9764" colspan="7">(In  Thousands)</td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td></td>
<td></td>
<td id="t6414211_1_5_7808" colspan="2"><strong>January 30, 2010</strong></td>
<td></td>
<td id="t6414211_1_5_9764" colspan="2"><strong>July 31, 2010</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td id="t6414211_1_6_7808" colspan="2">(Audited)</td>
<td></td>
<td id="t6414211_1_6_9764" colspan="2">(Unaudited)</td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_8_6184"><strong>ASSETS</strong></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_9_6184">CURRENT ASSETS:</td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_10_6184">Cash and cash  equivalents</td>
<td></td>
<td id="t6414211_1_10_7402">$</td>
<td id="t6414211_1_10_7808">21,853</td>
<td></td>
<td id="t6414211_1_10_8912"><strong>$</strong></td>
<td id="t6414211_1_10_9764"><strong>89,495</strong></td>
</tr>
<tr>
<td id="t6414211_1_11_6184">Short-term  investments</td>
<td></td>
<td></td>
<td id="t6414211_1_11_7808">169,736</td>
<td></td>
<td></td>
<td id="t6414211_1_11_9764"><strong>114,691</strong></td>
</tr>
<tr>
<td id="t6414211_1_12_6184">Accounts  receivable, net</td>
<td></td>
<td></td>
<td id="t6414211_1_12_7808">5,860</td>
<td></td>
<td></td>
<td id="t6414211_1_12_9764"><strong>8,171</strong></td>
</tr>
<tr>
<td id="t6414211_1_13_6184">Inventories:</td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_14_6184">Finished goods</td>
<td></td>
<td></td>
<td id="t6414211_1_14_7808">209,443</td>
<td></td>
<td></td>
<td id="t6414211_1_14_9764"><strong>213,005</strong></td>
</tr>
<tr>
<td id="t6414211_1_15_6184">Raw  materials</td>
<td></td>
<td></td>
<td id="t6414211_1_15_7808">8,878</td>
<td></td>
<td></td>
<td id="t6414211_1_15_9764"><strong>13,040</strong></td>
</tr>
<tr>
<td id="t6414211_1_16_6184">Total inventories</td>
<td></td>
<td></td>
<td id="t6414211_1_16_7808">218,321</td>
<td></td>
<td></td>
<td id="t6414211_1_16_9764"><strong>226,045</strong></td>
</tr>
<tr>
<td id="t6414211_1_17_6184">Prepaid  expenses and other current assets</td>
<td></td>
<td></td>
<td id="t6414211_1_17_7808">16,035</td>
<td></td>
<td></td>
<td id="t6414211_1_17_9764"><strong>16,590</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_19_6184">Total current  assets</td>
<td></td>
<td></td>
<td id="t6414211_1_19_7808">431,805</td>
<td></td>
<td></td>
<td id="t6414211_1_19_9764"><strong>454,992</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_21_6184">NONCURRENT ASSETS:</td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_22_6184">Property, plant  and equipment, net</td>
<td></td>
<td></td>
<td id="t6414211_1_22_7808">124,139</td>
<td></td>
<td></td>
<td id="t6414211_1_22_9764"><strong>131,089</strong></td>
</tr>
<tr>
<td id="t6414211_1_23_6184">Other  noncurrent assets</td>
<td></td>
<td></td>
<td id="t6414211_1_23_7808">420</td>
<td></td>
<td></td>
<td id="t6414211_1_23_9764"><strong>554</strong></td>
</tr>
<tr>
<td id="t6414211_1_24_6184">Total  assets</td>
<td></td>
<td id="t6414211_1_24_7402">$</td>
<td id="t6414211_1_24_7808">556,364</td>
<td></td>
<td id="t6414211_1_24_8912"><strong>$</strong></td>
<td id="t6414211_1_24_9764"><strong>586,635</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_26_6184"><strong>LIABILITIES AND  STOCKHOLDERS’ EQUITY</strong></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_28_6184">CURRENT  LIABILITIES:</td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_29_6184">Accounts payable</td>
<td></td>
<td id="t6414211_1_29_7402">$</td>
<td id="t6414211_1_29_7808">18,225</td>
<td></td>
<td id="t6414211_1_29_8912"><strong>$</strong></td>
<td id="t6414211_1_29_9764"><strong>32,158</strong></td>
</tr>
<tr>
<td id="t6414211_1_30_6184">Accrued expenses</td>
<td></td>
<td></td>
<td id="t6414211_1_30_7808">85,256</td>
<td></td>
<td></td>
<td id="t6414211_1_30_9764"><strong>72,644</strong></td>
</tr>
<tr>
<td id="t6414211_1_31_6184">Deferred  tax liability – current</td>
<td></td>
<td></td>
<td id="t6414211_1_31_7808">5,064</td>
<td></td>
<td></td>
<td id="t6414211_1_31_9764"><strong>5,067</strong></td>
</tr>
<tr>
<td id="t6414211_1_32_6184">Total current  liabilities</td>
<td></td>
<td></td>
<td id="t6414211_1_32_7808">108,545</td>
<td></td>
<td></td>
<td id="t6414211_1_32_9764"><strong>109,869</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_34_6184">NONCURRENT  LIABILITIES:</td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_35_6184">Deferred rent</td>
<td></td>
<td></td>
<td id="t6414211_1_35_7808">51,853</td>
<td></td>
<td></td>
<td id="t6414211_1_35_9764"><strong>49,535</strong></td>
</tr>
<tr>
<td id="t6414211_1_36_6184">Deferred tax  liability – noncurrent</td>
<td></td>
<td></td>
<td id="t6414211_1_36_7808">1,608</td>
<td></td>
<td></td>
<td id="t6414211_1_36_9764"><strong>247</strong></td>
</tr>
<tr>
<td id="t6414211_1_37_6184">Other  noncurrent liabilities</td>
<td></td>
<td></td>
<td id="t6414211_1_37_7808">1,048</td>
<td></td>
<td></td>
<td id="t6414211_1_37_9764"><strong>1,174</strong></td>
</tr>
<tr>
<td id="t6414211_1_38_6184">Total  liabilities</td>
<td></td>
<td></td>
<td id="t6414211_1_38_7808">163,054</td>
<td></td>
<td></td>
<td id="t6414211_1_38_9764"><strong>160,825</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_40_6184">COMMITMENTS AND  CONTINGENCIES</td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_42_6184">STOCKHOLDERS’  EQUITY:</td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="2"></td>
</tr>
<tr>
<td id="t6414211_1_43_6184">Common stock</td>
<td></td>
<td></td>
<td id="t6414211_1_43_7808">183</td>
<td></td>
<td></td>
<td id="t6414211_1_43_9764"><strong>274</strong></td>
</tr>
<tr>
<td id="t6414211_1_44_6184">Additional paid-in  capital</td>
<td></td>
<td></td>
<td id="t6414211_1_44_7808">83,249</td>
<td></td>
<td></td>
<td id="t6414211_1_44_9764"><strong>83,462</strong></td>
</tr>
<tr>
<td id="t6414211_1_45_6184">Retained earnings</td>
<td></td>
<td></td>
<td id="t6414211_1_45_7808">309,823</td>
<td></td>
<td></td>
<td id="t6414211_1_45_9764"><strong>342,019</strong></td>
</tr>
<tr>
<td id="t6414211_1_46_6184">Accumulated  other comprehensive income</td>
<td></td>
<td></td>
<td id="t6414211_1_46_7808">55</td>
<td></td>
<td></td>
<td id="t6414211_1_46_9764"><strong>55</strong></td>
</tr>
<tr>
<td id="t6414211_1_47_6184">Total  stockholders’ equity</td>
<td></td>
<td></td>
<td id="t6414211_1_47_7808">393,310</td>
<td></td>
<td></td>
<td id="t6414211_1_47_9764"><strong>425,810</strong></td>
</tr>
<tr>
<td id="t6414211_1_48_6184">Total  liabilities and stockholders’ equity</td>
<td></td>
<td id="t6414211_1_48_7402">$</td>
<td id="t6414211_1_48_7808">556,364</td>
<td></td>
<td id="t6414211_1_48_8912"><strong>$</strong></td>
<td id="t6414211_1_48_9764"><strong>586,635</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
</tbody>
</table>
<p>Note: The foregoing audited and unaudited Condensed Consolidated Balance  Sheets are excerpts from our Condensed Consolidated Financial Statements (as of  January 30, 2010 and July 31, 2010) and do not include the Notes, which are an  integral part thereof. The foregoing financial information should be read in  conjunction with the Company’s Quarterly Report on Form 10-Q for the quarterly  period ended July 31, 2010 and the Annual Report on Form 10-K for the fiscal  year ended January 30, 2010, which were filed with the Securities and Exchange  Commission on September 1, 2010 and March 31, 2010, respectively.</p>
<table id="t6414211_2" border="0" cellspacing="0">
<tbody>
<tr>
<td colspan="17"></td>
</tr>
<tr>
<td id="t6414211_2_1_10600" colspan="17"><strong>JOS. A. BANK CLOTHIERS, INC. AND SUBSIDIARIES</strong></td>
</tr>
<tr>
<td id="t6414211_2_2_10600" colspan="17"><strong>Condensed Consolidated Statements of Income</strong></td>
</tr>
<tr>
<td id="t6414211_2_3_10600" colspan="17">(In  thousands except per share data)</td>
</tr>
<tr>
<td id="t6414211_2_4_10600" colspan="17">(Unaudited)</td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td></td>
<td></td>
<td id="t6414211_2_6_6694" colspan="7"><strong>Three Months Ended</strong></td>
<td></td>
<td id="t6414211_2_6_10600" colspan="7"><strong>Six Months Ended</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td id="t6414211_2_7_5350" colspan="3"><strong>August 1, 2009</strong></td>
<td></td>
<td id="t6414211_2_7_6694" colspan="3"><strong>July 31, 2010</strong></td>
<td></td>
<td id="t6414211_2_7_8209" colspan="3"><strong>August 1, 2009</strong></td>
<td></td>
<td id="t6414211_2_7_10600" colspan="3"><strong>July 31, 2010</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_9_3600">Net sales</td>
<td></td>
<td id="t6414211_2_9_4596">$</td>
<td id="t6414211_2_9_5295">167,735</td>
<td></td>
<td></td>
<td id="t6414211_2_9_6034"><strong>$</strong></td>
<td id="t6414211_2_9_6663"><strong>188,412</strong></td>
<td></td>
<td></td>
<td id="t6414211_2_9_7447">$</td>
<td id="t6414211_2_9_8170">329,660</td>
<td></td>
<td></td>
<td id="t6414211_2_9_8924"><strong>$</strong></td>
<td id="t6414211_2_9_9600"><strong>366,537</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_11_3600">Cost  of goods sold</td>
<td></td>
<td></td>
<td id="t6414211_2_11_5295">64,558</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_11_6663"><strong>70,082</strong></td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_11_8170">128,029</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_11_9600"><strong>134,891</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_13_3600">Gross  profit</td>
<td></td>
<td></td>
<td id="t6414211_2_13_5295">103,177</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_13_6663"><strong>118,330</strong></td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_13_8170">201,631</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_13_9600"><strong>231,646</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_15_3600">Operating  expenses:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_16_3600">Sales and  marketing, including occupancy costs</td>
<td></td>
<td></td>
<td id="t6414211_2_16_5295">67,684</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_16_6663"><strong>73,748</strong></td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_16_8170">132,629</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_16_9600"><strong>144,267</strong></td>
<td></td>
</tr>
<tr>
<td id="t6414211_2_17_3600">General  and administrative</td>
<td></td>
<td></td>
<td id="t6414211_2_17_5295">14,811</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_17_6663"><strong>17,175</strong></td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_17_8170">29,471</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_17_9600"><strong>33,911</strong></td>
<td></td>
</tr>
<tr>
<td id="t6414211_2_18_3600">Total  operating expenses</td>
<td></td>
<td></td>
<td id="t6414211_2_18_5295">82,495</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_18_6663"><strong>90,923</strong></td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_18_8170">162,100</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_18_9600"><strong>178,178</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_20_3600">Operating income</td>
<td></td>
<td></td>
<td id="t6414211_2_20_5295">20,682</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_20_6663"><strong>27,407</strong></td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_20_8170">39,531</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_20_9600"><strong>53,468</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_22_3600">Other income  (expense):</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_23_3600">Interest income</td>
<td></td>
<td></td>
<td id="t6414211_2_23_5295">92</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_23_6663"><strong>159</strong></td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_23_8170">161</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_23_9600"><strong>274</strong></td>
<td></td>
</tr>
<tr>
<td id="t6414211_2_24_3600">Interest  expense</td>
<td></td>
<td></td>
<td id="t6414211_2_24_5295">(110</td>
<td id="t6414211_2_24_5350">)</td>
<td></td>
<td></td>
<td id="t6414211_2_24_6663"><strong>(5</strong></td>
<td id="t6414211_2_24_6694"><strong>)</strong></td>
<td></td>
<td></td>
<td id="t6414211_2_24_8170">(208</td>
<td id="t6414211_2_24_8209">)</td>
<td></td>
<td></td>
<td id="t6414211_2_24_9600"><strong>(95</strong></td>
<td id="t6414211_2_24_10600"><strong>)</strong></td>
</tr>
<tr>
<td id="t6414211_2_25_3600">Total  other income (expense)</td>
<td></td>
<td></td>
<td id="t6414211_2_25_5295">(18</td>
<td id="t6414211_2_25_5350">)</td>
<td></td>
<td></td>
<td id="t6414211_2_25_6663"><strong>154</strong></td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_25_8170">(47</td>
<td id="t6414211_2_25_8209">)</td>
<td></td>
<td></td>
<td id="t6414211_2_25_9600"><strong>179</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_27_3600">Income before  provision for income taxes</td>
<td></td>
<td></td>
<td id="t6414211_2_27_5295">20,664</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_27_6663"><strong>27,561</strong></td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_27_8170">39,484</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_27_9600"><strong>53,647</strong></td>
<td></td>
</tr>
<tr>
<td id="t6414211_2_28_3600">Provision  for income taxes</td>
<td></td>
<td></td>
<td id="t6414211_2_28_5295">8,152</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_28_6663"><strong>11,082</strong></td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_28_8170">15,517</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_28_9600"><strong>21,360</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_30_3600">Net  income</td>
<td></td>
<td id="t6414211_2_30_4596">$</td>
<td id="t6414211_2_30_5295">12,512</td>
<td></td>
<td></td>
<td id="t6414211_2_30_6034"><strong>$</strong></td>
<td id="t6414211_2_30_6663"><strong>16,479</strong></td>
<td></td>
<td></td>
<td id="t6414211_2_30_7447">$</td>
<td id="t6414211_2_30_8170">23,967</td>
<td></td>
<td></td>
<td id="t6414211_2_30_8924"><strong>$</strong></td>
<td id="t6414211_2_30_9600"><strong>32,287</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_32_3600">Per share  information:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_33_3600">Earnings per  share:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_34_3600">Basic</td>
<td></td>
<td id="t6414211_2_34_4596">$</td>
<td id="t6414211_2_34_5295">0.46</td>
<td></td>
<td></td>
<td id="t6414211_2_34_6034"><strong>$</strong></td>
<td id="t6414211_2_34_6663"><strong>0.60</strong></td>
<td></td>
<td></td>
<td id="t6414211_2_34_7447">$</td>
<td id="t6414211_2_34_8170">0.87</td>
<td></td>
<td></td>
<td id="t6414211_2_34_8924"><strong>$</strong></td>
<td id="t6414211_2_34_9600"><strong>1.17</strong></td>
<td></td>
</tr>
<tr>
<td id="t6414211_2_35_3600">Diluted</td>
<td></td>
<td id="t6414211_2_35_4596">$</td>
<td id="t6414211_2_35_5295">0.45</td>
<td></td>
<td></td>
<td id="t6414211_2_35_6034"><strong>$</strong></td>
<td id="t6414211_2_35_6663"><strong>0.59</strong></td>
<td></td>
<td></td>
<td id="t6414211_2_35_7447">$</td>
<td id="t6414211_2_35_8170">0.86</td>
<td></td>
<td></td>
<td id="t6414211_2_35_8924"><strong>$</strong></td>
<td id="t6414211_2_35_9600"><strong>1.16</strong></td>
<td></td>
</tr>
<tr>
<td id="t6414211_2_36_3600">Weighted average  shares outstanding:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_2_37_3600">Basic</td>
<td></td>
<td></td>
<td id="t6414211_2_37_5295">27,437</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_37_6663"><strong>27,527</strong></td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_37_8170">27,437</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_37_9600"><strong>27,527</strong></td>
<td></td>
</tr>
<tr>
<td id="t6414211_2_38_3600">Diluted</td>
<td></td>
<td></td>
<td id="t6414211_2_38_5295">27,781</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_38_6663"><strong>27,827</strong></td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_38_8170">27,769</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_2_38_9600"><strong>27,823</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
</tbody>
</table>
<p>Note: The foregoing unaudited Condensed Consolidated Statements of Income are  excerpts from our unaudited Condensed Consolidated Financial Statements for the  three and six months ended August 1, 2009 and July 31, 2010 and do not include  the Notes, which are an integral part thereof. The foregoing unaudited financial  information should be read in conjunction with the Company’s Quarterly Report on  Form 10-Q for the quarterly period ended July 31, 2010, which was filed with the  Securities and Exchange Commission on September 1, 2010.</p>
<table id="t6414211_3" border="0" cellspacing="0">
<tbody>
<tr>
<td colspan="9"></td>
</tr>
<tr>
<td id="t6414211_3_1_10450" colspan="9"><strong>JOS. A. BANK CLOTHIERS, INC. AND SUBSIDIARIES</strong></td>
</tr>
<tr>
<td id="t6414211_3_2_10450" colspan="9"><strong>Condensed Consolidated Statements of Cash Flows</strong></td>
</tr>
<tr>
<td id="t6414211_3_3_10450" colspan="9"><strong>(In  Thousands)</strong></td>
</tr>
<tr>
<td id="t6414211_3_4_10450" colspan="9"><strong>(Unaudited)</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td></td>
<td></td>
<td id="t6414211_3_7_10450" colspan="7"><strong>Six Months Ended</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td id="t6414211_3_8_7699" colspan="3"><strong>August 1, 2009</strong></td>
<td></td>
<td id="t6414211_3_8_10450" colspan="3"><strong>July 31, 2010</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_3_10_5569">Cash flows from  operating activities:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_3_11_5569">Net income</td>
<td></td>
<td id="t6414211_3_11_6760">$</td>
<td id="t6414211_3_11_7573">23,967</td>
<td></td>
<td></td>
<td id="t6414211_3_11_8637"><strong>$</strong></td>
<td id="t6414211_3_11_9450"><strong>32,287</strong></td>
<td></td>
</tr>
<tr>
<td id="t6414211_3_12_5569">Adjustments to reconcile net income to net cash  provided by operating activities:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_3_13_5569">Depreciation and  amortization</td>
<td></td>
<td></td>
<td id="t6414211_3_13_7573">10,896</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_3_13_9450"><strong>11,802</strong></td>
<td></td>
</tr>
<tr>
<td id="t6414211_3_14_5569">Loss on disposals  of property, plant and equipment</td>
<td></td>
<td></td>
<td id="t6414211_3_14_7573">66</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_3_14_9450"><strong>91</strong></td>
<td></td>
</tr>
<tr>
<td id="t6414211_3_15_5569">Non-cash equity  compensation</td>
<td></td>
<td></td>
<td id="t6414211_3_15_7573">-</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_3_15_9450"><strong>234</strong></td>
<td></td>
</tr>
<tr>
<td id="t6414211_3_16_5569">Increase  (decrease) in deferred taxes</td>
<td></td>
<td></td>
<td id="t6414211_3_16_7573">225</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_3_16_9450"><strong>(1,358</strong></td>
<td id="t6414211_3_16_10450"><strong>)</strong></td>
</tr>
<tr>
<td id="t6414211_3_17_5569">Net  (increase) in operating working capital and other components</td>
<td></td>
<td></td>
<td id="t6414211_3_17_7573">(24,773</td>
<td id="t6414211_3_17_7699">)</td>
<td></td>
<td></td>
<td id="t6414211_3_17_9450"><strong>(17,988</strong></td>
<td id="t6414211_3_17_10450"><strong>)</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_3_19_5569"><strong>Net  cash provided by operating activities</strong></td>
<td></td>
<td></td>
<td id="t6414211_3_19_7573">10,381</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_3_19_9450"><strong>25,068</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_3_21_5569">Cash flows from  investing activities:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_3_22_5569">Capital  expenditures</td>
<td></td>
<td></td>
<td id="t6414211_3_22_7573">(7,413</td>
<td id="t6414211_3_22_7699">)</td>
<td></td>
<td></td>
<td id="t6414211_3_22_9450"><strong>(12,471</strong></td>
<td id="t6414211_3_22_10450"><strong>)</strong></td>
</tr>
<tr>
<td id="t6414211_3_23_5569">Net  (purchases) maturities of short-term investments</td>
<td></td>
<td></td>
<td id="t6414211_3_23_7573">(64,879</td>
<td id="t6414211_3_23_7699">)</td>
<td></td>
<td></td>
<td id="t6414211_3_23_9450"><strong>55,045</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_3_25_5569"><strong>Net  cash provided by (used in) investing activities</strong></td>
<td></td>
<td></td>
<td id="t6414211_3_25_7573">(72,292</td>
<td id="t6414211_3_25_7699">)</td>
<td></td>
<td></td>
<td id="t6414211_3_25_9450"><strong>42,574</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_3_27_5569">Cash  flows from financing activities:</td>
<td></td>
<td></td>
<td id="t6414211_3_27_7573">-</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_3_27_9450"><strong>-</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_3_29_5569">Net  increase (decrease) in cash and cash equivalents</td>
<td></td>
<td></td>
<td id="t6414211_3_29_7573">(61,911</td>
<td id="t6414211_3_29_7699">)</td>
<td></td>
<td></td>
<td id="t6414211_3_29_9450"><strong>67,642</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_3_31_5569">Cash  and cash equivalents – beginning of period</td>
<td></td>
<td></td>
<td id="t6414211_3_31_7573">122,875</td>
<td></td>
<td></td>
<td></td>
<td id="t6414211_3_31_9450"><strong>21,853</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414211_3_33_5569">Cash  and cash equivalents – end of period</td>
<td></td>
<td id="t6414211_3_33_6760">$</td>
<td id="t6414211_3_33_7573">60,964</td>
<td></td>
<td></td>
<td id="t6414211_3_33_8637"><strong>$</strong></td>
<td id="t6414211_3_33_9450"><strong>89,495</strong></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
</tbody>
</table>
<p>Note: The foregoing unaudited Condensed Consolidated Statements of Cash Flows  are excerpts from our unaudited Condensed Consolidated Financial Statements for  the six months ended August 1, 2009 and July 31, 2010 and do not include the  Notes, which are an integral part thereof. The foregoing unaudited financial  information should be read in conjunction with the Company’s Quarterly Report on  Form 10-Q for the quarterly period ended July 31, 2010, which was filed with the  Securities and Exchange Commission on September 1, 2010.</p>
<p><img src="http://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20100901005405r1&amp;sid=newst&amp;distro=nx" alt="" /></p>
]]></content:encoded>
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		<item>
		<title>G-III Apparel Group, Ltd. (GIII) Announces Second Quarter Fiscal 2011 Results</title>
		<link>http://traderpower.com/g-iii-apparel-group-ltd-giii-announces-second-quarter-fiscal-2011-results/</link>
		<comments>http://traderpower.com/g-iii-apparel-group-ltd-giii-announces-second-quarter-fiscal-2011-results/#comments</comments>
		<pubDate>Wed, 01 Sep 2010 19:28:31 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://traderpower.com/?p=3458</guid>
		<description><![CDATA[Sep. 1, 2010 (Business Wire) &#8212; G-III Apparel Group, Ltd. (NasdaqGS: GIII)  today announced operating results for the second quarter of fiscal 2011.
The Company reported that, for the three months ended July 31, 2010, net  sales increased by 39% to $189.0 million from $135.9 million in the second  quarter last year. This [...]]]></description>
			<content:encoded><![CDATA[<p>Sep. 1, 2010 (Business Wire) &#8212; G-III Apparel Group, Ltd. (NasdaqGS: GIII)  today announced operating results for the second quarter of fiscal 2011.</p>
<p>The Company reported that, for the three months ended July 31, 2010, net  sales increased by 39% to $189.0 million from $135.9 million in the second  quarter last year. This increase was stronger than expected and resulted  primarily from increased wholesale sales of women’s dresses, sportswear and  suits, as well as from higher sales by the Company’s Wilsons retail outlet store  business.</p>
<p>Net income for the second quarter of fiscal 2011 improved to $3.0 million, or  $0.15 per diluted share, compared to a net loss of $2.8 million, or $0.17 per  share, in the year-ago quarter. This shift to profitability was driven by the  increase in sales and improved margins in the Company’s wholesale and retail  businesses.</p>
<p>Morris Goldfarb, G-III’s Chairman and Chief Executive Officer, said, “The  impact of our increasing diversification, both by product categories and brand,  was demonstrable in the second quarter. We now have built a dress and sportswear  business that is shipping twelve months a year. We are looking ahead to a strong  second half of the year as a result of the combination of our dress and  sportswear business with our fall and winter outerwear business.”</p>
<p>Mr. Goldfarb continued, “Our Wilsons business is on track to show much  improved results for this year coming off an improved first half of the year. We  believe that Wilsons is well positioned for a strong second half of the year. We  also are quite excited about our Calvin Klein handbags and luggage launch, which  we will begin shipping next year and will also further diversify our business.”</p>
<p>Mr. Goldfarb concluded, “We have strong momentum going into the second half  of the year with a solid order book and a well balanced diversified business  model which we believe will result in continued growth in sales and profits.”</p>
<p><strong>Outlook</strong></p>
<p>The Company has revised its expectations upward for its fiscal year ending  January 31, 2011. It is now forecasting net sales of approximately $1.025  billion compared to its prior forecast of approximately $950.0 million of net  sales and $800.9 million of net sales in the prior fiscal year. The Company is  now forecasting fiscal year 2011 net income in the range of $52.0 million to  $54.0 million, or $2.60 to $2.70 per diluted share. This represents an increase  from its prior guidance for net income of $44.0 million to $46.0 million, or  between $2.20 and $2.30 per diluted share, and from net income of $31.7 million,  or $1.83 per diluted share, in the prior fiscal year. The Company is now  forecasting EBITDA for the fiscal year ending January 31, 2011 to increase  between 56% and 61% from fiscal 2010 to a range of $96.3 million to $99.3  million. The Company previously forecasted EBITDA to increase approximately 35%  to 40% from fiscal 2010 to a range of approximately $83.3 million to $86.3  million, compared to EBITDA of $61.6 million in fiscal 2010. EBITDA should be  evaluated in light of the Company’s financial results prepared in accordance  with US GAAP. A reconciliation of EBITDA to net income in accordance with US  GAAP is included in a table accompanying the condensed financial statements in  this release.</p>
<p><strong>About G-III Apparel Group, Ltd.</strong></p>
<p>G-III is a leading manufacturer and distributor of outerwear, dresses,  sportswear and women&#8217;s suits under licensed brands, its own brands and private  label brands. G-III sells outerwear and dresses under our own Andrew Marc, Marc  New York and Marc Moto brands and has licensed these brands to select third  parties in certain product categories. G-III has fashion licenses under the  Calvin Klein, Sean John, Kenneth Cole, Cole Haan, Guess?, Jones New York,  Jessica Simpson, Nine West, Ellen Tracy, Tommy Hilfiger, Enyce, Levi&#8217;s and  Dockers brands and sports licenses with the National Football League, National  Basketball Association, Major League Baseball, National Hockey League, Touch by  Alyssa Milano and more than 100 U.S. colleges and universities. Our other owned  brands include Jessica Howard, Eliza J, Black Rivet, G-III, Tannery West, G-III  by Carl Banks and Winlit. G-III also operates retail outlet stores under the  Wilsons Leather name.</p>
<p><em>Statements concerning G-III’s business outlook or future economic  performance, anticipated revenues, expenses or other financial items; product  introductions and plans and objectives related thereto; and statements  concerning assumptions made or expectations as to any future events, conditions,  performance or other matters are “forward-looking statements” as that term is  defined under the Federal Securities laws.</em> <em>Forward-looking statements are  subject to risks, uncertainties and factors which include, but are not limited  to, reliance on licensed product, reliance on foreign manufacturers, risks of  doing business abroad, the current economic and credit environment, the nature  of the apparel industry, including changing customer demand and tastes, customer  concentration, seasonality, risks of operating a retail business, customer  acceptance of new products, the impact of competitive products and pricing,  dependence on existing management, possible disruption from acquisitions and  general economic conditions, as well as other risks detailed in G-III’s filings  with the Securities and Exchange Commission. G-III assumes no obligation to  update the information in this release.</em></p>
<table id="t6414347_5" border="0" cellspacing="0">
<tbody>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td colspan="6"></td>
</tr>
<tr>
<td id="t6414347_5_1_11080" colspan="17"><strong>G-III APPAREL GROUP, LTD. AND SUBSIDIARIES</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td colspan="6"></td>
</tr>
<tr>
<td id="t6414347_5_3_11080" colspan="17"><strong>(NASDAQGSM:GIII)</strong></td>
</tr>
<tr>
<td id="t6414347_5_4_11080" colspan="17"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS AND</strong></td>
</tr>
<tr>
<td id="t6414347_5_5_11080" colspan="17"><strong>SELECTED BALANCE SHEET DATA</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td colspan="6"></td>
</tr>
<tr>
<td id="t6414347_5_7_11080" colspan="17">(in thousands, except per share amounts)</td>
</tr>
<tr>
<td id="t6414347_5_8_11080" colspan="17">(Unaudited)</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td colspan="6"></td>
</tr>
<tr>
<td id="t6414347_5_10_3960"></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_10_7785" colspan="6">Three Months Ended</td>
<td></td>
<td id="t6414347_5_10_11080" colspan="6">Six Months Ended</td>
</tr>
<tr>
<td id="t6414347_5_11_3960"></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_11_7785" colspan="6">July 31,</td>
<td></td>
<td id="t6414347_5_11_11080" colspan="6">July 31,</td>
</tr>
<tr>
<td id="t6414347_5_12_3960"></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_12_5490">2010</td>
<td></td>
<td></td>
<td id="t6414347_5_12_7020">2009</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_12_8550">2010</td>
<td></td>
<td></td>
<td id="t6414347_5_12_10080">2009</td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_13_3960">Net sales</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_13_4725">$</td>
<td id="t6414347_5_13_5490">188,960</td>
<td></td>
<td id="t6414347_5_13_6255">$</td>
<td id="t6414347_5_13_7020">135,926</td>
<td></td>
<td></td>
<td id="t6414347_5_13_8167">$</td>
<td id="t6414347_5_13_8550">343,237</td>
<td></td>
<td id="t6414347_5_13_9315">$</td>
<td id="t6414347_5_13_10080">243,489</td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_14_3960">Cost  of sales</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_14_5490">128,206</td>
<td></td>
<td></td>
<td id="t6414347_5_14_7020">95,111</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_14_8550">233,447</td>
<td></td>
<td></td>
<td id="t6414347_5_14_10080">171,459</td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_15_3960">Gross profit</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_15_5490">60,754</td>
<td></td>
<td></td>
<td id="t6414347_5_15_7020">40,815</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_15_8550">109,790</td>
<td></td>
<td></td>
<td id="t6414347_5_15_10080">72,030</td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_16_3960">Selling, general  and administrative expenses</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_16_5490">53,844</td>
<td></td>
<td></td>
<td id="t6414347_5_16_7020">43,195</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_16_8550">103,525</td>
<td></td>
<td></td>
<td id="t6414347_5_16_10080">84,078</td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_18_3960">Depreciation and amortization</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_18_5490">1,277</td>
<td></td>
<td></td>
<td id="t6414347_5_18_7020">1,384</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_18_8550">2,557</td>
<td></td>
<td></td>
<td id="t6414347_5_18_10080">2,788</td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_19_3960">Operating  income/(loss)</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_19_5490">5,633</td>
<td></td>
<td></td>
<td id="t6414347_5_19_7020">(3,764</td>
<td id="t6414347_5_19_7785">)</td>
<td></td>
<td></td>
<td id="t6414347_5_19_8550">3,708</td>
<td></td>
<td></td>
<td id="t6414347_5_19_10080">(14,836</td>
<td id="t6414347_5_19_11080">)</td>
</tr>
<tr>
<td id="t6414347_5_20_3960">Interest  and financing charges, net</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_20_5490">634</td>
<td></td>
<td></td>
<td id="t6414347_5_20_7020">1,022</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_20_8550">996</td>
<td></td>
<td></td>
<td id="t6414347_5_20_10080">1,707</td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_22_3960">Income/(loss) before taxes</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_22_5490">4,999</td>
<td></td>
<td></td>
<td id="t6414347_5_22_7020">(4,786</td>
<td id="t6414347_5_22_7785">)</td>
<td></td>
<td></td>
<td id="t6414347_5_22_8550">2,712</td>
<td></td>
<td></td>
<td id="t6414347_5_22_10080">(16,543</td>
<td id="t6414347_5_22_11080">)</td>
</tr>
<tr>
<td id="t6414347_5_23_3960">Income  tax expense/(benefit)</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_23_5490">2,000</td>
<td></td>
<td></td>
<td id="t6414347_5_23_7020">(2,010</td>
<td id="t6414347_5_23_7785">)</td>
<td></td>
<td></td>
<td id="t6414347_5_23_8550">1,085</td>
<td></td>
<td></td>
<td id="t6414347_5_23_10080">(6,948</td>
<td id="t6414347_5_23_11080">)</td>
</tr>
<tr>
<td id="t6414347_5_24_3960">Net  income/(loss)</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_24_4725">$</td>
<td id="t6414347_5_24_5490">2,999</td>
<td></td>
<td id="t6414347_5_24_6255">$</td>
<td id="t6414347_5_24_7020">(2,776</td>
<td id="t6414347_5_24_7785">)</td>
<td></td>
<td id="t6414347_5_24_8167">$</td>
<td id="t6414347_5_24_8550">1,627</td>
<td></td>
<td id="t6414347_5_24_9315">$</td>
<td id="t6414347_5_24_10080">(9,595</td>
<td id="t6414347_5_24_11080">)</td>
</tr>
<tr>
<td id="t6414347_5_25_3960">Net income/(loss)  per common share:</td>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414347_5_26_3960">Basic</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_26_4725">$</td>
<td id="t6414347_5_26_5490">0.16</td>
<td></td>
<td id="t6414347_5_26_6255">$</td>
<td id="t6414347_5_26_7020">(0.17</td>
<td id="t6414347_5_26_7785">)</td>
<td></td>
<td id="t6414347_5_26_8167">$</td>
<td id="t6414347_5_26_8550">0.09</td>
<td></td>
<td id="t6414347_5_26_9315">$</td>
<td id="t6414347_5_26_10080">(0.57</td>
<td id="t6414347_5_26_11080">)</td>
</tr>
<tr>
<td id="t6414347_5_27_3960">Diluted</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_27_4725">$</td>
<td id="t6414347_5_27_5490">0.15</td>
<td></td>
<td id="t6414347_5_27_6255">$</td>
<td id="t6414347_5_27_7020">(0.17</td>
<td id="t6414347_5_27_7785">)</td>
<td></td>
<td id="t6414347_5_27_8167">$</td>
<td id="t6414347_5_27_8550">0.08</td>
<td></td>
<td id="t6414347_5_27_9315">$</td>
<td id="t6414347_5_27_10080">(0.57</td>
<td id="t6414347_5_27_11080">)</td>
</tr>
<tr>
<td id="t6414347_5_28_3960">Weighted average  shares outstanding:</td>
<td></td>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414347_5_29_3960">Basic</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_29_5490">19,126</td>
<td></td>
<td></td>
<td id="t6414347_5_29_7020">16,726</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_29_8550">19,016</td>
<td></td>
<td></td>
<td id="t6414347_5_29_10080">16,711</td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_30_3960">Diluted</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_30_5490">19,652</td>
<td></td>
<td></td>
<td id="t6414347_5_30_7020">16,726</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_5_30_8550">19,540</td>
<td></td>
<td></td>
<td id="t6414347_5_30_10080">16,711</td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_32_3960"><strong>Balance Sheet  Data (in thousands):</strong></td>
<td id="t6414347_5_32_4055"></td>
<td id="t6414347_5_32_4151"></td>
<td id="t6414347_5_32_4342"></td>
<td id="t6414347_5_32_7785" colspan="6"></td>
<td id="t6414347_5_32_7976"></td>
<td id="t6414347_5_32_8550" colspan="2">At July 31,</td>
<td id="t6414347_5_32_8932"></td>
<td id="t6414347_5_32_11080" colspan="3">At July 31,</td>
</tr>
<tr>
<td id="t6414347_5_33_3960"></td>
<td id="t6414347_5_33_4055"></td>
<td id="t6414347_5_33_4151"></td>
<td id="t6414347_5_33_4342"></td>
<td id="t6414347_5_33_7785" colspan="6"></td>
<td id="t6414347_5_33_7976"></td>
<td id="t6414347_5_33_8550" colspan="2">2010</td>
<td></td>
<td id="t6414347_5_33_11080" colspan="3">2009</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6414347_5_35_3960">Working Capital</td>
<td></td>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td id="t6414347_5_35_8167">$</td>
<td id="t6414347_5_35_8550">175,877</td>
<td></td>
<td id="t6414347_5_35_9315">$</td>
<td id="t6414347_5_35_10080">92,699</td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_36_3960">Cash</td>
<td></td>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td></td>
<td id="t6414347_5_36_8550">6,147</td>
<td></td>
<td></td>
<td id="t6414347_5_36_10080">5,682</td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_37_3960">Inventory</td>
<td></td>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td></td>
<td id="t6414347_5_37_8550">223,543</td>
<td></td>
<td></td>
<td id="t6414347_5_37_10080">172,439</td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_38_3960">Total Assets</td>
<td></td>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td></td>
<td id="t6414347_5_38_8550">457,329</td>
<td></td>
<td></td>
<td id="t6414347_5_38_10080">373,099</td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_39_3960">Outstanding  Borrowings</td>
<td></td>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td></td>
<td id="t6414347_5_39_8550">77,411</td>
<td></td>
<td></td>
<td id="t6414347_5_39_10080">111,336</td>
<td></td>
</tr>
<tr>
<td id="t6414347_5_40_3960">Total  Shareholders&#8217; Equity</td>
<td></td>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td id="t6414347_5_40_8167">$</td>
<td id="t6414347_5_40_8550">239,709</td>
<td></td>
<td id="t6414347_5_40_9315">$</td>
<td id="t6414347_5_40_10080">153,895</td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
</tbody>
</table>
<table id="t6414347_6" border="0" cellspacing="0">
<tbody>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td id="t6414347_6_1_8748" colspan="7"><strong>G-III APPAREL GROUP, LTD. AND SUBSIDIARIES</strong></td>
</tr>
<tr>
<td id="t6414347_6_2_8748" colspan="7"><strong>RECONCILIATION OF EBITDA TO ACTUAL AND  FORECASTED NET INCOME</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td id="t6414347_6_4_8748" colspan="7">(in  thousands)</td>
</tr>
<tr>
<td id="t6414347_6_5_8748" colspan="7">(Unaudited)</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td id="t6414347_6_7_3272"></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_6_7_5907">Forecasted</td>
<td></td>
<td id="t6414347_6_7_8748">Actual</td>
</tr>
<tr>
<td id="t6414347_6_8_3272"></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_6_8_5907">Twelve  Months Ending</td>
<td></td>
<td id="t6414347_6_8_8748">Twelve  Months Ended</td>
</tr>
<tr>
<td id="t6414347_6_9_3272"></td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_6_9_5907">January  31, 2011</td>
<td></td>
<td id="t6414347_6_9_8748">January  31, 2010</td>
</tr>
<tr>
<td id="t6414347_6_10_3272">EBITDA, as defined</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_6_10_5907">$96,300  &#8211; $99,300</td>
<td></td>
<td id="t6414347_6_10_8748">$  61,587</td>
</tr>
<tr>
<td id="t6414347_6_11_3272">Depreciation and  amortization</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_6_11_5907">6,200</td>
<td></td>
<td id="t6414347_6_11_8748">5,380</td>
</tr>
<tr>
<td id="t6414347_6_12_3272">Interest and  financing charges, net</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_6_12_5907">3,400</td>
<td></td>
<td id="t6414347_6_12_8748">4,705</td>
</tr>
<tr>
<td id="t6414347_6_13_3272">Income tax expense</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_6_13_5907">34,700 &#8211; 35,700</td>
<td></td>
<td id="t6414347_6_13_8748">19,784</td>
</tr>
<tr>
<td id="t6414347_6_14_3272">Net  income</td>
<td></td>
<td></td>
<td></td>
<td id="t6414347_6_14_5907">$52,000 &#8211; $54,000</td>
<td></td>
<td id="t6414347_6_14_8748">$ 31,718</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
</tbody>
</table>
<p>EBITDA is a “non-GAAP financial measure” which represents earnings before  depreciation and amortization, interest and financing charges, net, and income  tax expense. EBITDA is being presented as a supplemental disclosure because  management believes that it is a common measure of operating performance in the  apparel industry. EBITDA should not be construed as an alternative to net income  as an indicator of the Company’s operating performance, or as an alternative to  cash flows from operating activities as a measure of the Company’s liquidity, as  determined in accordance with generally accepted accounting principles.</p>
]]></content:encoded>
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		</item>
		<item>
		<title>ProAssurance (PRA) to Acquire American Physicians Service Group (AMPH)</title>
		<link>http://traderpower.com/proassurance-pra-to-acquire-american-physicians-service-group-amph/</link>
		<comments>http://traderpower.com/proassurance-pra-to-acquire-american-physicians-service-group-amph/#comments</comments>
		<pubDate>Wed, 01 Sep 2010 19:27:58 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://traderpower.com/?p=3456</guid>
		<description><![CDATA[
BIRMINGHAM, Ala. and AUSTIN, Texas, Sept. 1 /PRNewswire-FirstCall/  &#8211;ProAssurance Corporation (NYSE: PRA) and American Physicians Service Group,  Inc. (Nasdaq: AMPH) today announced they have entered into an agreement which  calls for ProAssurance to acquire all the outstanding shares of American  Physicians Service Group, Inc. (APS) in an all-cash transaction for $32.50 [...]]]></description>
			<content:encoded><![CDATA[<div>
<p>BIRMINGHAM, Ala. and AUSTIN, Texas, Sept. 1 /PRNewswire-FirstCall/  &#8211;ProAssurance Corporation (NYSE: PRA) and American Physicians Service Group,  Inc. (Nasdaq: AMPH) today announced they have entered into an agreement which  calls for ProAssurance to acquire all the outstanding shares of American  Physicians Service Group, Inc. (APS) in an all-cash transaction for $32.50 per  share. The transaction is expected to close by year-end.</p>
<p>&#8220;This is an attractive strategic and financial acquisition for ProAssurance,&#8221;  said ProAssurance&#8217;s Chairman and Chief Executive Officer, W. Stancil Starnes.  &#8220;APS is the second largest writer of medical professional liability (MPL)  insurance in Texas, so we expect this transaction to give ProAssurance a strong  market presence in a state that has one of the most stable medical/legal  environments in the country. In addition, APS&#8217; growth in Oklahoma and Arkansas  complements our long-term commitment to those two markets. Financially, we  anticipate this transaction will be accretive to our 2011 earnings, before  one-time transaction and any restructuring costs.&#8221;</p>
<p>The Chairman and Chief Executive Officer of APS, <strong>Ken Shifrin</strong>, said,  &#8220;ProAssurance is the ideal partner for us. Like APS, they were formed by  physicians and retain a strong doctor focus. As an &#8220;A&#8221; rated carrier, they also  offer the highest quality insurance protection for our policyholders.  Importantly, along with the strength and stability they bring to our  policyholders, they also bring a proven track record of successful integrations  for our employees. Similarly, our shareholders also benefit from this alliance.  In the last ten years, a period that has not been kind to many equity holders,  our shareholders have enjoyed a steadily increasing stock price and this offer  puts a dramatic finish on that extraordinary performance.&#8221;</p>
<p>Mr. Starnes explained why APS is an attractive partner for ProAssurance, &#8220;We  think the Texas market will be a vital part of our continued growth. APS will  bring us a solid insurance organization that understands and operates profitably  in the Texas market and shares a similar commitment to customer service. We  expect this combination to produce immediate, tangible benefits for our  company.&#8221;</p>
<p>The Board of Directors of APS has determined that the transaction is in the  best interests of APS&#8217; shareholders and, thus, has unanimously approved the  merger and resolved to recommend that APS shareholders vote in favor of the  transaction. The transaction is subject to customary conditions, including  regulatory and APS&#8217; shareholder approval. There is no financing condition to  consummate the transaction. Shareholder approval is not required for  ProAssurance.</p>
<p>Conference Call</p>
<p>ProAssurance will comment on the broad details and benefits of the  transaction to both organizations during a conference call scheduled for  Wednesday, September 1, 2010 at 10:00 am et. Investors may participate by  dialing (888) 213-3920 (toll free) or (913) 312-0846. The conference call will  also be webcast on Streetevents.com, and through the Investor Relations section  of ProAssurance.com.</p>
<p>A telephone replay will be available through September 15, 2010 at (888)  203-1112 (toll-free) or (719) 457-0820, with access code 5448555. An internet  replay will also be available through September 15, 2010 at ProAssurance.com and  Streetevents.com. ProAssurance will make a podcast of the call available on its  website and on iTunes.</p>
<p>Transaction Advisors</p>
<p>ProAssurance is being advised in this transaction by Sandler O&#8217;Neill +  Partners, L.P. and the law firm of Burr &amp; Forman, LLP. American Physicians  Service Group is being advised by Macquarie Capital (USA) Inc. and the law firm  of Akin Gump Strauss Hauer &amp; Feld LLP.</p>
<p>About ProAssurance</p>
<p>ProAssurance Corporation is the nation&#8217;s largest independently traded  specialty writer of medical professional liability insurance. ProAssurance is  recognized as one of the top performing insurance companies in America by virtue  of its inclusion in the Ward&#8217;s 50 for the past four years. ProAssurance is rated  &#8220;A&#8221; (Strong) by Fitch Ratings; ProAssurance Group is rated &#8220;A&#8221; (Excellent) by  A.M. Best.</p>
<p>About American Physicians Service Group</p>
<p>APS is an insurance holding company with subsidiaries that provide medical  professional liability insurance for physicians and other healthcare providers.  APS is headquartered in Austin, Texas. Further information about the companies  is available on the Internet at www.AMPH.com.</p>
<p>Additional Information</p>
<p>In connection with the proposed transaction, the Board of Directors of  American Physicians Service Group will file a proxy statement with the  Securities and Exchange Commission (&#8221;SEC&#8221;). INVESTORS AND SHAREHOLDERS ARE  ADVISED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH  THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT  INFORMATION ABOUT THE MERGER AND THE PARTIES THERETO.</p>
<p>Investors and shareholders will be able to obtain copies of the proxy  statement and other documents filed by American Physicians Service Group without  charge and when available, at the SEC&#8217;s Web site at www.sec.gov or at American  Physicians Service Group&#8217;s Website, www.AMPH.com. The proxy statement and such  other documents may also be obtained without charge and when available, from  American Physicians Service Group by directing such request to Mr. <strong>Marc  Zimmermann</strong>, American Physicians Service Group, Inc. 1301 South Capital of  Texas Highway, Austin, TX 78746; telephone: (512) 328-0888.</p>
<p>American Physicians Service Group and its directors and executive officers  may be deemed to be participants in the solicitation of proxies from American  Physician Service Group&#8217;s shareholders in connection with the proposed  transaction. Information concerning the interests of those persons is set forth  in American Physicians Service Group&#8217;s proxy statement relating to the 2010  annual shareholder meeting and annual report on Form 10-K for the fiscal year  ended December 31, 2009, both filed with the SEC, and will also be set forth in  the proxy statement relating to the transaction when it becomes available.</p>
<p>Caution Regarding Forward-Looking Statements</p>
<p>In this section, &#8220;We&#8221; and &#8220;Our&#8221; refer collectively to American Physicians  Service Group, Inc. and ProAssurance Corporation. Statements in this news  release that are not historical fact or that convey our view of future business,  events or trends are specifically identified as forward-looking statements.  Forward-looking statements are based upon our estimates and anticipation of  future events and highlight certain risks and uncertainties that could cause  actual results to vary materially from our expected results. We expressly claim  the safe harbor provisions of Section 27A of the Securities Act of 1933, as  amended, and Section 21E of the Securities Exchange Act of 1934, as amended, for  any forward-looking statements in this news release.</p>
<p>Forward-looking statements represent our outlook only as of the date of this  news release. Except as required by law or regulation, we do not undertake and  specifically decline any obligation to publicly release the result of any  revisions that may be made to any forward-looking statements to reflect events  or circumstances after the date of such statements or to reflect the occurrence  of anticipated or unanticipated events.</p>
<p>Forward-looking statements are generally identified by words such as, but not  limited to, &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;hope,&#8221; &#8220;hopeful,&#8221;  &#8220;intend,&#8221; &#8220;may,&#8221; &#8220;optimistic,&#8221; &#8220;potential,&#8221; &#8220;preliminary,&#8221; &#8220;project,&#8221; &#8220;should,&#8221;  &#8220;will,&#8221; and other analogous expressions. When we address topics such as  liquidity and capital requirements, the value of our investments, return on  equity, financial ratios, net income, premiums, losses and loss reserves,  premium rates and retention of current business, competition and market  conditions, the expansion of product lines, the development or acquisition of  business in new geographical areas, the availability of acceptable reinsurance,  actions by regulators and rating agencies, court actions, legislative actions,  payment or performance of obligations under indebtedness, payment of dividends,  and other, similar matters, we are making forward-looking statements.</p>
<p>Risks that could adversely affect the proposed merger of ProAssurance and  American Physicians Service Group include but are not limited to the  following:</p>
<ul type="disc">
<li>the business of ProAssurance and American Physicians Service Group may not  be combined successfully, or such combination may take longer to accomplish than  expected;</li>
<li>the cost savings from the merger may not be fully realized or may take  longer to realize than expected;</li>
<li>operating costs, customer loss and business disruption following the merger,  including adverse effects on relationships with employees, may be greater than  expected;</li>
<li>governmental approvals of the merger may not be obtained, or adverse  regulatory conditions may be imposed in connection with governmental approvals  of the merger;</li>
<li>there may be restrictions on our ability to achieve continued growth through  expansion into other states or through acquisitions or business combinations;</li>
<li>the board of directors of American Physicians Service Group may withdraw its  recommendation and support a competing acquisition proposal; and</li>
<li>the shareholders of American Physicians Service Group may fail to approve  the merger.</li>
</ul>
<p>The following important factors are among those that could affect the actual  outcome of future events:</p>
<ul type="disc">
<li>general economic conditions, either nationally or in our market areas, that  are different than anticipated;</li>
<li>regulatory, legislative and judicial actions or decisions that could affect  our business plans or operations; the enactment or repeal of tort reforms;</li>
<li>formation or dissolution of state-sponsored medical professional liability  insurance entities that could remove or add sizable groups of physicians from  the private insurance market;</li>
<li>the impact of deflation or inflation;</li>
<li>changes in the interest rate environment;</li>
<li>the effect that changes in laws or government regulations affecting the U.S.  economy or financial institutions, including the Emergency Economic  Stabilization Act of 2008, the American Recovery and Reinvestment Act of 2009  and the Dodd-Frank Act of 2010, may have on the U.S. economy and our business;</li>
<li>performance of financial markets affecting the fair value of our investments  or making it difficult to determine the value of our investments;</li>
<li>changes in accounting policies and practices that may be adopted by our  regulatory agencies and the Financial Accounting Standards Board, the Securities  and Exchange Commission, or the Public Accounting Oversight Board;</li>
<li>changes in laws or government regulations affecting medical professional  liability insurance or the financial community;</li>
<li>the effects of changes in the health care delivery system, including but not  limited to the recently passed Patient Protection and Affordable Care Act;</li>
<li>uncertainties inherent in the estimate of loss and loss adjustment expense  reserves and reinsurance, and changes in the availability, cost, quality, or  collectability of insurance/reinsurance;</li>
<li>the results of litigation, including pre- or post-trial motions, trials  and/or appeals we undertake;</li>
<li>bad faith litigation which may arise from our handling of any particular  claim, including failure to settle;</li>
<li>loss of independent agents;</li>
<li>changes in our organization, compensation and benefit plans;</li>
<li>our ability to retain and recruit senior management;</li>
<li>our ability to purchase reinsurance and collect payments from our  reinsurers;</li>
<li>increases in guaranty fund assessments;</li>
<li>our ability to achieve continued growth through expansion into other states  or through acquisitions or business combinations;</li>
<li>changes to the ratings assigned by rating agencies to our insurance  subsidiaries, individually or as a group; and</li>
<li>changes in competition among insurance providers and related pricing  weaknesses in our markets.</li>
</ul>
<p>Additional risk factors that may cause outcomes that differ from our  expectations or projections are described in various documents filed by  ProAssurance Corporation and American Physicians Service Group, Inc. with the  Securities and Exchange Commission, such as current reports on Form 8-K, and  regular reports on Forms 10-Q and 10-K, particularly in &#8220;Item 1A, Risk  Factors.&#8221;</p>
<p>SOURCE ProAssurance Corporation; American Physicians Service Group,  Inc.</p></div>
<p><!-- end embedded XHTML document --></p>
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		<item>
		<title>Kenexa (KNXA) Announces Agreement to Acquire Salary.com (SLRY)</title>
		<link>http://traderpower.com/kenexa-knxa-announces-agreement-to-acquire-salary-com-slry/</link>
		<comments>http://traderpower.com/kenexa-knxa-announces-agreement-to-acquire-salary-com-slry/#comments</comments>
		<pubDate>Wed, 01 Sep 2010 19:27:24 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://traderpower.com/?p=3454</guid>
		<description><![CDATA[Sep. 1, 2010 (Business Wire) &#8212; Kenexa Corporation (Nasdaq: KNXA) and  Salary.com, Inc. (Nasdaq: SLRY) today announced that they have entered into an  agreement for Kenexa’s acquisition of Salary.com in an all cash tender offer and  merger for $4.07 per share, or approximately $80 million. Kenexa, a global  provider of business [...]]]></description>
			<content:encoded><![CDATA[<p>Sep. 1, 2010 (Business Wire) &#8212; Kenexa Corporation (Nasdaq: KNXA) and  Salary.com, Inc. (Nasdaq: SLRY) today announced that they have entered into an  agreement for Kenexa’s acquisition of Salary.com in an all cash tender offer and  merger for $4.07 per share, or approximately $80 million. Kenexa, a global  provider of business solutions for human resources, expects to complete the cash  tender offer and close the transaction during the fourth quarter of 2010. The  completion of the transaction is subject to a majority of the outstanding  Salary.com shares being tendered, as well as satisfactory completion of other  customary closing conditions, including certain regulatory approvals.</p>
<p>Kenexa expects to finance the deal through a combination of its cash balances  and borrowings against its credit facility, which was recently put in place. The  agreement has been unanimously approved by the board of directors of both  companies, and Salary.com’s board intends to recommend that the Salary.com  stockholders tender their shares in the offer.</p>
<p>Kenexa’s Chief Executive Officer, Rudy Karsan, stated, “We are very excited  to announce the acquisition of Salary.com, which provides Kenexa with  significant domain expertise and a strong leadership position in the area of  on-demand compensation management solutions. Salary.com’s value proposition  spans both software and proprietary content, similar to Kenexa, and their  compensation management solutions are highly synergistic with our broad suite of  talent acquisition and retention solutions. We believe Kenexa is increasingly  being recognized in the market place as having the broadest and deepest suite of  talent management solutions, and the addition of Salary.com’s solutions and  customer base will further strengthen our competitive position.”</p>
<p>Karsan added, “We believe there is a tremendous opportunity to take  Salary.com’s best-in-class compensation management solutions to Kenexa’s  customer base, which includes some of the largest corporations in the world. In  addition, Salary.com has several thousand customers that provide a fertile  opportunity for Kenexa to deliver our suite of software, services and content.  We believe Salary.com’s acquisition by Kenexa is a major positive for both of  our respective companies, employees, partners, customers and prospects.”</p>
<p>Salary.com provides on-demand compensation software that helps businesses and  individuals manage pay and performance. The company is the industry leader in  market pricing and compensation analysis software that helps customers  benchmark, compensate and reward its employees. Salary.com’s compensation  solutions were designed by Certified Compensation Professionals (CCP®) and  enable corporations to analyze pay competitiveness, simplify cumbersome survey  participation and automate market pricing all in a single, web-based solution.  Salary.com also provides companies with access to a wealth of employer reported  compensation data that spans thousands of jobs.</p>
<p>Kenexa believes the acquisition of Salary.com is compelling for a number of  reasons, including the following:</p>
<ul>
<li>Compensation management is highly synergistic  with Kenexa’s current suite of talent acquisition and retention solutions</li>
<li>Salary.com has established a market leadership  position in the on-demand, compensation management market</li>
<li>Salary.com and Kenexa have complementary  business models as both companies deliver a combination of software and  proprietary content through a subscription-based, on-demand model</li>
<li>Kenexa believes there is a significant  opportunity to expand Salary.com’s adoption in large organizations and on a  global basis</li>
<li>Kenexa expects the transaction will have a  positive impact on its non-GAAP operating results</li>
</ul>
<p>Kenexa’s management will provide additional, updated financial guidance that  includes the expected contribution from Salary.com on its third quarter 2010  financial results conference call, assuming the acquisition has closed in  advance.</p>
<p>Upon completion of the Salary.com acquisition, Kenexa’s non-GAAP results will  exclude stock-based compensation expense and amortization of intangibles  associated with acquisitions as they have in the past, in addition to  non-recurring professional fees associated with completing the transaction and  the purchase accounting reduction to Salary.com’s deferred revenue.</p>
<p>Salary.com’s interim chief executive officer, Paul Daoust, said, “Over the  last several quarters, Salary.com has executed an aggressive restructuring plan  to enable the company to focus on our core businesses and areas of competitive  advantage. We believe Salary.com’s acquisition by Kenexa will enable us to  capitalize on our market leading software and data in compensation, talent  management and consumer offerings. Salary.com will now have access to a much  larger global sales and services organization, greater R&amp;D resources and  overall financial strength to provide our customers with confidence that we will  be able to meet their needs from a long-term perspective. We believe that the  combination of Salary.com and Kenexa will provide a unique, end-to-end value  proposition that positions our combined organization very well in front of an  eventual improvement in the economy and hiring environment.”</p>
<p><strong>Reiterates Financial Guidance for the Third Quarter 2010</strong></p>
<p>On September 1, 2010, Kenexa’s management reiterated that the Company is on  track to meet the financial guidance it previously issued on August 3, 2010. The  Company continues to expect revenue to be $45 million to $47 million, and  non-GAAP operating income to be $3.4 million to $3.6 million. Assuming an  effective tax rate for reporting purposes of approximately 20% and approximately  23.2 million shares outstanding, Kenexa expects its non-GAAP net income per  diluted share to be $0.12 to $0.13<strong>.</strong></p>
<p><strong>Conference Call Information</strong></p>
<p>Kenexa will host a conference call today, September 1, 2010, at 8:00am  (Eastern Time) to discuss the acquisition. To access this call, dial  877-407-9039 (domestic) or 201-689-8470 (international). A replay of this  conference call will be available through September 8, 2010, at 877-660-6853  (domestic) or 201-612-7415 (international). The replay account number is 3055  and the passcode is 356459. A live webcast of this conference call will be  available on the &#8220;Investor Relations&#8221; page of the Company&#8217;s Web site,  (www.kenexa.com) and a replay will be archived on the Web site as well.</p>
<p><strong>Special Note</strong></p>
<p>The planned tender offer described in this release has not yet commenced.  This press release is for informational purposes only and is not an offer to  purchase or a solicitation of an offer to sell securities. At the time the  planned tender offer is commenced, Kenexa will file a tender offer statement on  Schedule TO with the Securities and Exchange Commission (the &#8220;SEC&#8221;), and  Salary.com will file a solicitation/recommendation statement on Schedule 14D-9  with respect to the planned tender offer. The tender offer statement (including  an offer to purchase, a related letter of transmittal and other tender offer  documents) and the solicitation/recommendation statement will contain important  information that should be read carefully before making any decision to tender  securities in the planned tender offer. Those materials will be made available  to Salary.com’s stockholders at no expense to them. In addition, all of those  materials (and all other tender offer documents filed with the SEC) will be made  available at no charge on the SEC&#8217;s website: www.sec.gov.</p>
<p><strong>Forward-Looking Statements</strong></p>
<p>This communication contains “forward-looking statements” within the meaning  of the Securities Act of 1933 and the Securities Exchange Act of 1934 that are  not limited to historical facts, but reflect Kenexa’s and Salary.com’s current  beliefs, expectations or intentions regarding future events. No assurance can be  given that the acquisition of Salary.com by Kenexa will be completed, that  completion will not be delayed, or that Kenexa will realize the anticipated  benefits of the transaction. Risks could include the parties’ expectations with  respect to the synergies, costs and other anticipated financial impacts of the  proposed transaction; future financial and operating results of Kenexa and  Salary.com; the plans, objectives, expectations and intentions with respect to  future operations and services of Kenexa and Salary.com; any necessary approval  of the proposed transaction by stockholders and by governmental regulatory  authorities; the satisfaction of the closing conditions to the proposed  transaction; the timing of the completion of the proposed transaction; the  possibility that the proposed transaction is delayed or does not close,  including due to the failure to receive any required stockholder or regulatory  approvals, the taking of governmental action (including the passage of  legislation) to block the transaction, or the failure of other closing  conditions; the possibility that the expected synergies will not be realized, or  will not be realized within the expected time period; the impact of labor  relations, global economic conditions, competitive actions taken by other  companies, natural disasters, difficulties in integrating the two companies, or  regulatory matters. Kenexa and Salary.com caution that the foregoing list of  factors is not exclusive. Additional information concerning these and other risk  factors is contained in Kenexa’s and Salary.com’s most recently filed annual  reports on Form 10-K, subsequent quarterly reports on Form 10-Q, recent current  reports on Form 8-K, and other SEC filings. All subsequent written and oral  forward-looking statements concerning Kenexa, Salary.com, the proposed  transaction or other matters and attributable to Kenexa or Salary.com or any  person acting on their behalf are expressly qualified in their entirety by the  cautionary statements above. Neither Kenexa nor Salary.com undertakes any  obligation to publicly update any of these forward-looking statements to reflect  events or circumstances that may arise after the date hereof.</p>
<p><strong>About Kenexa</strong></p>
<p>Kenexa® provides business solutions for human resources. We help global  organizations multiply business success by identifying the best individuals for  every job and fostering optimal work environments for every organization. For  more than 20 years, Kenexa has studied human behavior and team dynamics in the  workplace, and has developed the software solutions, business processes and  expert consulting that help organizations impact positive business outcomes  through HR. Kenexa is the only company that offers a comprehensive suite of  unified products and services that support the entire employee lifecycle from  pre-hire to exit. Additional information about Kenexa and its global products  and services can be accessed at www.kenexa.com<strong>.</strong></p>
<p><strong>About Salary.com</strong></p>
<p>Salary.com is a leading provider of on-demand compensation and talent  management solutions. Salary.com&#8217;s highly configurable software applications and  proprietary content help executives, line managers and compensation  professionals automate, streamline and optimize critical talent management  processes including: market pricing, compensation planning, performance  management, competency management, and succession planning. Built with  compensation and competency data at the core, Salary.com solutions provide  businesses of all sizes with the most productive and cost-effective way to  manage and inspire their most important asset &#8212; their people. For more  information, visit www.Salary.com.</p>
<p><em>Note to editors: Kenexa is a registered trademark of Kenexa.</em> <em>Other  company names, product names and company logos mentioned herein are the  trademarks or registered trademarks of their respective owners.</em></p>
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		<title>Energy Conversion Devices (ENER) Reports Fourth Quarter and Fiscal Year 2010 Financial Results</title>
		<link>http://traderpower.com/energy-conversion-devices-ener-reports-fourth-quarter-and-fiscal-year-2010-financial-results/</link>
		<comments>http://traderpower.com/energy-conversion-devices-ener-reports-fourth-quarter-and-fiscal-year-2010-financial-results/#comments</comments>
		<pubDate>Tue, 31 Aug 2010 19:07:00 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

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		<description><![CDATA[ROCHESTER HILLS, Mich., Aug. 31, 2010 (GLOBE NEWSWIRE) &#8212; Energy Conversion  Devices, Inc. (ECD) (Nasdaq:ENER), a leading global provider of thin-film  flexible solar laminate products and systems for the building integrated and  commercial rooftop markets, today announced financial results for its fourth  quarter and fiscal year ended June 30, 2010.
Total consolidated [...]]]></description>
			<content:encoded><![CDATA[<p>ROCHESTER HILLS, Mich., Aug. 31, 2010 (GLOBE NEWSWIRE) &#8212; Energy Conversion  Devices, Inc. (ECD) (Nasdaq:ENER), a leading global provider of thin-film  flexible solar laminate products and systems for the building integrated and  commercial rooftop markets, today announced financial results for its fourth  quarter and fiscal year ended June 30, 2010.</p>
<p align="left">Total consolidated revenues for the quarter were $86.2 million,  compared to $51.4 million in the fourth quarter of fiscal 2009, a 68% increase,  and $72.4 million in the third quarter of fiscal 2010, a 19% increase. Solar  product and system sales for the quarter were $81.3 million, compared to $46.0  million in the same quarter last year, a 77% increase, and $65.1 million in the  third quarter of fiscal 2010, a 25% increase.</p>
<p align="left">For the fourth quarter, the company reported a loss of $20.4  million or $0.48 per fully diluted share compared to a net loss of $17.6 million  or $0.42 per fully diluted share in the year-ago period. This compares to a net  loss of $26.8 million or $0.63 per fully diluted share in the third quarter of  fiscal 2010, which excluded a non-cash impairment charge of $358.0 million or  $8.46 per share.</p>
<p align="left">The company reported an increase in cash, cash-equivalents and  short-term investments of $7.4 million during the quarter, compared to a  decrease of $38.3 million in the fourth quarter of fiscal 2009 and a decrease of  $19.6 million in the third quarter of fiscal 2010. The company&#8217;s total reported  cash position at the end of the fiscal year stood at $204.7 million, which  includes $11.7 million of restricted cash.</p>
<p align="left">Fourth quarter net results were negatively affected by the  following items, which had an aggregate effect of $11.0 million:  under-absorption of factory overhead costs of $6.2 million, a restructuring  charge of $1.3 million, inventory reserves of $2.4 million and a net foreign  currency transaction loss of $1.1 million. In addition, the company recognized a  non-cash gain on the early extinguishment of debt of $4.3 million due to the  exchange of $23 million par value of the company&#8217;s outstanding convertible notes  for common stock. The net impact of these items was an increase of the quarter&#8217;s  net loss by $6.7 million, or $0.16 per fully diluted share.</p>
<p align="left"><strong>Mark Morelli, </strong>ECD&#8217;s President and Chief Executive Officer  said, &#8220;Our fourth quarter results demonstrate solid progress. We have expanded  shipments, reduced inventory, improved cash flow and increased revenue on a  sequential basis. We remain aggressively focused on improving sales and margins  and bringing our overall costs down. Our demand creation activities continue to  gain traction as we have added 150 megawatts to our project pipeline.&#8221;</p>
<p align="left">For the fiscal year ended June 30, 2010, total consolidated  revenues were $254.4 million compared to $316.3 million in the prior year. Solar  product and system sales were $230.2 million for fiscal 2010 compared to solar  product sales of $295.0 million in the prior year. Net loss for fiscal year 2010  was $456.0 million or $10.72 per fully diluted share versus net income of $8.5  million or $0.20 per fully diluted share in the year-ago period, as adjusted due  to the implementation of FASB ASC 470-20. Fiscal year 2010&#8217;s net loss was  impacted by several items including non-cash impairment charges of $359.2  million, restructuring charges of $4.7 million, transaction costs from the  acquisition of Solar Integrated Technologies of $3.0 million, non-cash losses on  asset disposals of $1.1 million, net foreign currency transaction losses of $2.4  million and the $4.3 million non-cash gain on the early extinguishment of debt  described above. When taken collectively, these items increased fiscal year  2010&#8217;s net loss by $366.1 million or $8.61 per share.</p>
<p align="left">The company also provided guidance for fiscal year 2011 as  follows:</p>
<table border="0" cellspacing="6" cellpadding="0">
<tbody>
<tr>
<td></td>
<td><strong>Q1&#8242;11</strong></td>
<td><strong>FY 2011</strong></td>
</tr>
<tr>
<td>Shipments (MW)</td>
<td>28-33</td>
<td>120-140</td>
</tr>
<tr>
<td>Production (MW)</td>
<td>~33</td>
<td>120-140</td>
</tr>
<tr>
<td>Consolidated Revenue ($M)</td>
<td>63-68</td>
<td>280-330</td>
</tr>
<tr>
<td>Consolidated Gross Margin (%)</td>
<td>15-18%</td>
<td>15-18%</td>
</tr>
<tr>
<td>SG&amp;A and R&amp;D Expense ($M)</td>
<td>~19</td>
<td>75-80</td>
</tr>
<tr>
<td>Interest Expense ($M)</td>
<td>~7</td>
<td>~28</td>
</tr>
<tr>
<td>Restructuring Charges ($M)</td>
<td>1-2</td>
<td>2-5</td>
</tr>
<tr>
<td>Other Operating Expense ($M)</td>
<td>~2</td>
<td>2-5</td>
</tr>
<tr>
<td>Capital Expenditures ($M)</td>
<td>7-8</td>
<td>30-35</td>
</tr>
</tbody>
</table>
<p>Morelli added, &#8220;We expect to grow our business substantially in fiscal 2011,  although our quarterly results may show unevenness due to project timing  uncertainties and the relative growth in our systems business, for which revenue  recognition can be delayed by several quarters following initial product  shipments. For example, we expect to nearly double shipments year over year in  the first quarter, but will not recognize the revenue for many of these  shipments until later in the fiscal year. As a greater proportion of our  business is generated from projects, we will see continued revenue growth,  enhanced system-derived margin, and increased visibility moving forward.&#8221;</p>
<p align="left">&#8220;Building on our improvement in fiscal 2010, I am confident that  we are achieving operating cash flow breakeven, as we begin realizing the  benefits of our recent cost reduction activities, which in concert with  increased production, will lead to a dramatic improvement in our cost per watt  as the year progresses. We are also establishing the foundation to achieve  sustainable profitability by running our factories at or above nameplate  capacity, taking additional cost out of our business, launching new and  innovative products, growing our systems business, and following our technology  roadmap,&#8221; concluded Morelli.</p>
<p align="left"><strong>Conference Call / Webcast Details</strong></p>
<p align="left">Management of Energy Conversion Devices will review these  financial results on a conference call on Tuesday, August 31, 2010, at 10:00  a.m. ET. To participate in the conference call, please dial (877) 858-2512 or  (706) 634-6076 (international) at least 10 minutes prior to the start of the  call. Callers will need to reference conference ID number 95081245.The  conference call will be webcast live over the Internet and can be accessed in  the Investor Relations – Events section of the company&#8217;s website at  www.energyconversiondevices.com.</p>
<p>An audio replay of the call will be available approximately two hours after  the conclusion of the call. The replay will remain available until 11:59 p.m.  EDT September 2, 2010 and can be accessed by dialing (800) 642-1687 or (706)  645-9291 (international) and entering conference ID number 95081245. The webcast  will also be archived on the Company&#8217;s website.</p>
<p align="left"><strong>About Energy Conversion Devices</strong></p>
<p>Energy Conversion Devices is a leading global provider of thin-film flexible  solar laminate products and systems for the building integrated and commercial  rooftop markets. The company manufactures, sells and installs thin-film solar  laminates that convert sunlight to energy using proprietary technology. ECD&#8217;s  <em>UNI-SOLAR</em><sup>®</sup> brand products are unique because of their  flexibility, light weight, ease of installation, durability, and real-world  efficiency. Through its Solar Integrated Technologies business, the company also  designs, manufactures and installs rooftop photovoltaic systems which enable  customers to transform unused space on the rooftop into a value-generating  asset. In addition, ECD&#8217;s Ovonic Materials Division is the pioneer in NiMH  battery technology, and is developing low cost fuel cells, hydrogen production  from bioreformation, and hydrogen storage technologies. For more information,  please visit www.energyconversiondevices.com.</p>
<p><em>This release may contain forward-looking statements within the meaning of  the Safe Harbor Provisions of the Private Securities Litigation Reform Act of  1995. Forward-looking statements include statements concerning our plans,  objectives, goals, strategies, future events, future net sales or performance,  capital expenditures, financing needs, plans or intentions relating to  expansions, business trends and other information that is not historical  information. All forward-looking statements are based upon information available  to us on the date of this release and are subject to risks, uncertainties and  other factors, many of which are outside of our control, that could cause actual  results to differ materially from the results discussed in the forward-looking  statements. Risks that could cause such results to differ include: our ability  to maintain our customer relationships; the worldwide demand for electricity and  the market for solar energy; the supply and price of components and raw  materials for our products; and our customers&#8217; ability to access the capital  needed to finance the purchase of our product.</em><em> The risk factors  identified in the ECD filings with the Securities and Exchange Commission,  including the company&#8217;s most recent Annual Report on Form 10-K and most recent  Quarterly Report on Form 10-Q, could impact any forward-looking statements  contained in this release. Energy Conversion Devices, Inc. assumes no  responsibility to update any forward-looking statements contained  herein.</em></p>
<table border="0" cellspacing="6" cellpadding="0">
<tbody>
<tr>
<td colspan="5"><strong>ENERGY CONVERSION DEVICES, INC. and  SUBSIDIARIES</strong></td>
</tr>
<tr>
<td colspan="5"><strong>CONSOLIDATED STATEMENTS OF  OPERATIONS</strong></td>
</tr>
<tr>
<td colspan="5"><strong>(In thousands, except per share  data)</strong></td>
</tr>
<tr>
<td colspan="5"><strong> </strong></td>
</tr>
<tr>
<td></td>
<td colspan="2"><strong>Quarter Ended June  30,</strong></td>
<td colspan="2"><strong>Year Ended June  30,</strong></td>
</tr>
<tr>
<td></td>
<td><strong>2010</strong></td>
<td><strong>2009<sup>(1)</sup></strong></td>
<td><strong>2010</strong></td>
<td><strong>2009<sup>(1)</sup></strong></td>
</tr>
<tr>
<td>Revenues</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Product sales</td>
<td>$ 66,889</td>
<td>$ 46,014</td>
<td>$ 200,451</td>
<td>$ 294,992</td>
</tr>
<tr>
<td>System sales</td>
<td>14,362</td>
<td>&#8211;</td>
<td>29,781</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Royalties</td>
<td>1,852</td>
<td>1,991</td>
<td>7,984</td>
<td>6,355</td>
</tr>
<tr>
<td>Revenues from product development agreements</td>
<td>2,187</td>
<td>3,094</td>
<td>11,765</td>
<td>13,409</td>
</tr>
<tr>
<td>License and other revenues</td>
<td>864</td>
<td>316</td>
<td>4,435</td>
<td>1,537</td>
</tr>
<tr>
<td>Total Revenues</td>
<td>86,154</td>
<td>51,415</td>
<td>254,416</td>
<td>316,293</td>
</tr>
<tr>
<td>Expenses</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Cost of product sales</td>
<td>67,756</td>
<td>41,028</td>
<td>203,510</td>
<td>208,375</td>
</tr>
<tr>
<td>Cost of system sales</td>
<td>13,645</td>
<td>&#8211;</td>
<td>33,087</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Cost of revenues from product development  agreements</td>
<td>1,775</td>
<td>2,533</td>
<td>9,399</td>
<td>9,507</td>
</tr>
<tr>
<td>Product development and research</td>
<td>2,530</td>
<td>2,418</td>
<td>11,347</td>
<td>8,986</td>
</tr>
<tr>
<td>Preproduction costs</td>
<td>223</td>
<td>276</td>
<td>305</td>
<td>5,409</td>
</tr>
<tr>
<td>Selling, general and administrative</td>
<td>16,645</td>
<td>14,915</td>
<td>66,797</td>
<td>58,902</td>
</tr>
<tr>
<td>Net (gain) loss on disposal of property, plant and  equipment</td>
<td>(188)</td>
<td>1,610</td>
<td>1,108</td>
<td>2,287</td>
</tr>
<tr>
<td>Impairment loss</td>
<td>&#8211;</td>
<td>&#8211;</td>
<td>359,228</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Restructuring charges</td>
<td>1,276</td>
<td>1,657</td>
<td>4,736</td>
<td>2,231</td>
</tr>
<tr>
<td>Total Expenses</td>
<td>103,662</td>
<td>64,437</td>
<td>689,517</td>
<td>295,697</td>
</tr>
<tr>
<td>Operating (Loss) Income</td>
<td>(17,508)</td>
<td>(13,022)</td>
<td>(435,101)</td>
<td>20,596</td>
</tr>
<tr>
<td>Other Income (Expense)</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Interest income</td>
<td>371</td>
<td>443</td>
<td>1,331</td>
<td>5,226</td>
</tr>
<tr>
<td>Interest expense</td>
<td>(6,740)</td>
<td>(4,778)</td>
<td>(27,510)</td>
<td>(14,682)</td>
</tr>
<tr>
<td>Gain on debt extinguishment</td>
<td>4,294</td>
<td>&#8211;</td>
<td>4,294</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Distribution from joint venture</td>
<td>&#8211;</td>
<td>&#8211;</td>
<td>1,309</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Other nonoperating income (expense), net</td>
<td>(988)</td>
<td>437</td>
<td>(2,321)</td>
<td>(1,118)</td>
</tr>
<tr>
<td>Total Other Income (Expense)</td>
<td>(3,063)</td>
<td>(3,898)</td>
<td>(22,897)</td>
<td>(10,574)</td>
</tr>
<tr>
<td>(Loss) Income before Income Taxes and Equity Loss</td>
<td>(20,571)</td>
<td>(16,920)</td>
<td>(457,998)</td>
<td>10,022</td>
</tr>
<tr>
<td>Income tax (benefit) expense</td>
<td>(293)</td>
<td>653</td>
<td>(2,248)</td>
<td>1,475</td>
</tr>
<tr>
<td>(Loss) Income before Equity Loss</td>
<td>(20,278)</td>
<td>(17,573)</td>
<td>(455,750)</td>
<td>8,547</td>
</tr>
<tr>
<td>Equity loss</td>
<td>(74)</td>
<td>&#8211;</td>
<td>(259)</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Net (Loss) Income</td>
<td>(20,352)</td>
<td>(17,573)</td>
<td>(456,009)</td>
<td>8,547</td>
</tr>
<tr>
<td>Net Loss Attributable to Noncontrolling Interest</td>
<td>(73)</td>
<td>&#8211;</td>
<td>(113)</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Net (Loss) Income Attributable to ECD Shareholders</td>
<td>$ (20,279)</td>
<td>$ (17,573)</td>
<td>$  (455,896)</td>
<td>$ 8,547</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Earnings (Loss) Per Share</td>
<td>$ (0.48)</td>
<td>$   (0.42)</td>
<td>$   (10.72)</td>
<td>$ 0.20</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Diluted Earnings (Loss) Per Share</td>
<td>$ (0.48)</td>
<td>$   (0.41)</td>
<td>$  (10.72)</td>
<td>$ 0.20</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Basic weighted average shares outstanding</td>
<td>42,544</td>
<td>42,314</td>
<td>42,533</td>
<td>42,277</td>
</tr>
<tr>
<td>Diluted weighted average shares outstanding</td>
<td>42,544</td>
<td>42,355</td>
<td>42,533</td>
<td>42,711</td>
</tr>
<tr>
<td colspan="5"></td>
</tr>
<tr>
<td colspan="5"><sup>(1) </sup> As adjusted due to  implementation of FASB ASC 470-20 (See Note 1 of our most recent  10-K).</td>
</tr>
</tbody>
</table>
<table border="0" cellspacing="6" cellpadding="0">
<tbody>
<tr>
<td colspan="3"></td>
</tr>
<tr>
<td colspan="3"></td>
</tr>
<tr>
<td colspan="3"><strong>ENERGY CONVERSION DEVICES, INC. and  SUBSIDIARIES</strong></td>
</tr>
<tr>
<td colspan="3"><strong>CONSOLIDATED BALANCE  SHEETS</strong></td>
</tr>
<tr>
<td colspan="3"><strong>(in thousands)</strong></td>
</tr>
<tr>
<td></td>
<td colspan="2"><strong>June 30,</strong></td>
</tr>
<tr>
<td></td>
<td><strong>2010</strong></td>
<td><strong>2009 <sup>(1)</sup></strong></td>
</tr>
<tr>
<td><strong>ASSETS </strong></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Current Assets:<strong> </strong></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Cash and cash equivalents</td>
<td>$   79,158</td>
<td>$   56,379</td>
</tr>
<tr>
<td>Short-term investments</td>
<td>113,771</td>
<td>245,182</td>
</tr>
<tr>
<td>Accounts receivable, net</td>
<td>72,021</td>
<td>69,382</td>
</tr>
<tr>
<td>Inventories, net</td>
<td>61,495</td>
<td>74,266</td>
</tr>
<tr>
<td>Other current assets</td>
<td>27,237</td>
<td>4,897</td>
</tr>
<tr>
<td>Total Current Assets</td>
<td>353,682</td>
<td>450,106</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Property, Plant and Equipment, net</td>
<td>301,056</td>
<td>614,330</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Other Assets:</td>
<td></td>
<td></td>
</tr>
<tr>
<td>Restricted cash</td>
<td>11,749</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Lease receivable, net</td>
<td>10,854</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Other assets</td>
<td>10,980</td>
<td>11,661</td>
</tr>
<tr>
<td>Total Other Assets</td>
<td>33,583</td>
<td>11,661</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><strong>Total Assets</strong></td>
<td>$  688,321</td>
<td>$ 1,076,097</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><strong>LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</strong></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Current Liabilities:</td>
<td></td>
<td></td>
</tr>
<tr>
<td>Accounts payable and accrued expenses</td>
<td>$ 56,035</td>
<td>$ 50,238</td>
</tr>
<tr>
<td>Current portion of warranty liability</td>
<td>12,125</td>
<td>5,917</td>
</tr>
<tr>
<td>Other current liabilities</td>
<td>9,130</td>
<td>3,506</td>
</tr>
<tr>
<td>Total Current Liabilities</td>
<td>77,290</td>
<td>59,661</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Long-Term Liabilities:</td>
<td></td>
<td></td>
</tr>
<tr>
<td>Convertible senior notes</td>
<td>243,654</td>
<td>247,974</td>
</tr>
<tr>
<td>Capital lease obligations</td>
<td>20,296</td>
<td>21,412</td>
</tr>
<tr>
<td>Warranty liability</td>
<td>29,210</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Other liabilities</td>
<td>19,872</td>
<td>9,701</td>
</tr>
<tr>
<td>Total Long-Term Liabilities</td>
<td>313,032</td>
<td>279,087</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Commitments and Contingencies (Note 15)</td>
<td></td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><strong>Stockholders&#8217; Equity</strong></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Common stock, $0.01 par value, 100 million shares  authorized, 48,554,812</p>
<p>and  45,754,652 issued at June 30, 2010 and 2009,  respectively</td>
<td>486</td>
<td>458</td>
</tr>
<tr>
<td>Additional paid-in capital</td>
<td>1,074,410</td>
<td>1,055,705</td>
</tr>
<tr>
<td>Treasury stock</td>
<td>(700)</td>
<td>(700)</td>
</tr>
<tr>
<td>Accumulated deficit</td>
<td>(772,514)</td>
<td>(316,618)</td>
</tr>
<tr>
<td>Accumulated other comprehensive loss, net</td>
<td>(3,570)</td>
<td>(1,496)</td>
</tr>
<tr>
<td>Total ECD stockholders&#8217; equity</td>
<td>298,112</td>
<td>737,349</td>
</tr>
<tr>
<td>Accumulated deficit – noncontrolling interest</td>
<td>(113)</td>
<td>&#8211;</td>
</tr>
<tr>
<td><strong>Total Stockholders&#8217; Equity</strong></td>
<td>297,999</td>
<td>737,349</td>
</tr>
<tr>
<td><strong>Total Liabilities and Stockholders&#8217;  Equity</strong></td>
<td>$ 688,321</td>
<td>$ 1,076,097</td>
</tr>
<tr>
<td colspan="3"></td>
</tr>
<tr>
<td colspan="3"><sup>(1)</sup> As adjusted due to  implementation of FASB ASC 470-20 (See Note 1 of our most recent  10-K).</td>
</tr>
</tbody>
</table>
<table border="0" cellspacing="6" cellpadding="0">
<tbody>
<tr>
<td colspan="4"></td>
</tr>
<tr>
<td colspan="4"></td>
</tr>
<tr>
<td colspan="4"><strong>ENERGY CONVERSION DEVICES, INC. and  SUBSIDIARIES</strong></td>
</tr>
<tr>
<td colspan="4"><strong>CONSOLIDATED STATEMENTS OF CASH  FLOWS</strong></td>
</tr>
<tr>
<td colspan="4"><strong>(in thousands)</strong></td>
</tr>
<tr>
<td></td>
<td colspan="3"><strong>Year Ended June  30,</strong></td>
</tr>
<tr>
<td></td>
<td><strong>2010</strong></td>
<td><strong>2009<sup>(1)</sup></strong></td>
<td><strong>2008</strong></td>
</tr>
<tr>
<td><strong>Cash flows from operating activities:</strong></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Net (loss) income</td>
<td>$ (456,009)</td>
<td>$ 8,547</td>
<td>$ 3,853</td>
</tr>
<tr>
<td>Adjustments to reconcile net (loss) income to net cash  (used in) provided by</p>
<p>operating activities:</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Impairment loss</td>
<td>359,228</td>
<td>&#8211;</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Depreciation and amortization</td>
<td>32,708</td>
<td>33,605</td>
<td>21,917</td>
</tr>
<tr>
<td>Amortization of debt discount and deferred financing  fees</td>
<td>15,991</td>
<td>14,672</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Share-based compensation</td>
<td>4,428</td>
<td>5,273</td>
<td>2,010</td>
</tr>
<tr>
<td>Gain on debt extinguishment</td>
<td>(4,294)</td>
<td>&#8211;</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Other-than-temporary impairment of investment</td>
<td>&#8211;</td>
<td>1,002</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Net loss on disposal of property, plant and  equipment</td>
<td>1,258</td>
<td>2,287</td>
<td>1,116</td>
</tr>
<tr>
<td>Equity loss</td>
<td>259</td>
<td>&#8211;</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Other</td>
<td>(180)</td>
<td>(597)</td>
<td>1,649</td>
</tr>
<tr>
<td>Changes in operating assets and liabilities, net of  foreign exchange:</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Accounts receivable</td>
<td>(8,538)</td>
<td>(17,376)</td>
<td>(16,947)</td>
</tr>
<tr>
<td>Inventories</td>
<td>35,283</td>
<td>(43,054)</td>
<td>7,582</td>
</tr>
<tr>
<td>Other assets</td>
<td>(8,634)</td>
<td>(7,054)</td>
<td>(1,168)</td>
</tr>
<tr>
<td>Accounts payable and accrued expenses</td>
<td>(7,201)</td>
<td>13,714</td>
<td>8,298</td>
</tr>
<tr>
<td>Other liabilities</td>
<td>1,525</td>
<td>70</td>
<td>200</td>
</tr>
<tr>
<td>Net cash (used in) provided by operating activities</td>
<td>(34,176)</td>
<td>11,089</td>
<td>28,510</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><strong>Cash flows from investing activities:</strong></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Purchases of property, plant and equipment</td>
<td>(31,992)</td>
<td>(242,257)</td>
<td>(117,335)</td>
</tr>
<tr>
<td>Acquisition of business, net of cash acquired</td>
<td>(2,088)</td>
<td>&#8211;</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Investment in joint ventures</td>
<td>&#8211;</td>
<td>(1,000)</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Purchases of investments</td>
<td>(102,657)</td>
<td>(203,355)</td>
<td>(62,250)</td>
</tr>
<tr>
<td>Proceeds from maturities of investments</td>
<td>202,209</td>
<td>3,400</td>
<td>22,591</td>
</tr>
<tr>
<td>Proceeds from sale of investments</td>
<td>29,671</td>
<td>2,750</td>
<td>115,038</td>
</tr>
<tr>
<td>Proceeds from sale of property, plant and equipment</td>
<td>48</td>
<td>&#8211;</td>
<td>288</td>
</tr>
<tr>
<td>Development loans</td>
<td>(14,155)</td>
<td></td>
<td></td>
</tr>
<tr>
<td>Increase in restricted cash</td>
<td>(10,186)</td>
<td>&#8211;</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Net cash provided by (used in) investing activities</td>
<td>70,850</td>
<td>(440,462)</td>
<td>(41,668)</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td><strong>Cash flows from financing activities:</strong></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Proceeds from convertible senior notes</td>
<td>&#8211;</td>
<td>&#8211;</td>
<td>306,762</td>
</tr>
<tr>
<td>Payments for deferred financing costs</td>
<td>&#8211;</td>
<td>&#8211;</td>
<td>(1,258)</td>
</tr>
<tr>
<td>Proceeds from common stock issuance</td>
<td>&#8211;</td>
<td>&#8211;</td>
<td>98,998</td>
</tr>
<tr>
<td>Principal payments under capitalized lease obligations  and other debt</td>
<td>(1,549)</td>
<td>(1,054)</td>
<td>(1,144)</td>
</tr>
<tr>
<td>Repayment of revolving credit facility</td>
<td>(5,705)</td>
<td>&#8211;</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Repayment of convertible notes</td>
<td>(8,000)</td>
<td>&#8211;</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Increase in long-term customer deposits</td>
<td>&#8211;</td>
<td>&#8211;</td>
<td>680</td>
</tr>
<tr>
<td>Decrease in restricted investments</td>
<td>&#8211;</td>
<td>&#8211;</td>
<td>(273)</td>
</tr>
<tr>
<td>Proceeds from sale of stock and share-based  compensation, net of expenses</td>
<td>&#8211;</td>
<td>1,966</td>
<td>13,482</td>
</tr>
<tr>
<td>Net cash (used in) provided by financing activities</td>
<td>(15,254)</td>
<td>912</td>
<td>417,247</td>
</tr>
<tr>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Effect of exchange rate changes on cash and cash  equivalents</td>
<td>1,359</td>
<td>348</td>
<td>(367)</td>
</tr>
<tr>
<td>Net increase (decrease) in cash and cash equivalents</td>
<td>22,779</td>
<td>(428,113)</td>
<td>403,722</td>
</tr>
<tr>
<td>Cash and cash equivalents at beginning of period</td>
<td>56,379</td>
<td>484,492</td>
<td>80,770</td>
</tr>
<tr>
<td>Cash and cash equivalents at end of period</td>
<td>$ 79,158</td>
<td>$ 56,379</td>
<td>$ 484,492</td>
</tr>
<tr>
<td colspan="4"></td>
</tr>
<tr>
<td colspan="4"><sup>(1) </sup>As adjusted due to  implementation of FASB ASC 470-20 (See Note 1 of our most recent  10-K).</td>
</tr>
</tbody>
</table>
<table border="0" cellspacing="6" cellpadding="0">
<tbody>
<tr>
<td colspan="5"></td>
</tr>
<tr>
<td colspan="5"></td>
</tr>
<tr>
<td colspan="5"><strong>ENERGY CONVERSION DEVICES, INC. and  SUBSIDIARIES</strong></td>
</tr>
<tr>
<td colspan="5"><strong>RECONCILIATION OF GAAP MEASURES to  NON-GAAP MEASURES (Unaudited)</strong></td>
</tr>
<tr>
<td colspan="5">(In thousands, except per share data)</td>
</tr>
<tr>
<td colspan="5"></td>
</tr>
<tr>
<td></td>
<td colspan="2"><strong>Three Months Ended March 31,  2010</strong></td>
<td colspan="2"><strong> Year ended June 30,  2010</strong></td>
</tr>
<tr>
<td></td>
<td><strong>Net Loss</strong></td>
<td><strong>EPS</strong></td>
<td><strong>Net Loss</strong></td>
<td><strong>EPS</strong></td>
</tr>
<tr>
<td>Net Loss Attributable to ECD Shareholders</td>
<td>$ (384,846)</td>
<td>$ (9.10)</td>
<td>$ (455,896)</td>
<td>$ (10.72)</td>
</tr>
<tr>
<td>Less: Impairment Loss</td>
<td>357,975</td>
<td>8.46</td>
<td>359,228</td>
<td>8.45</td>
</tr>
<tr>
<td>Net Loss Attributable to ECD Shareholders</td>
<td>$ (26,871)</td>
<td>$ (0.64)</td>
<td>$ (96,668)</td>
<td>$ (2.27)</td>
</tr>
</tbody>
</table>
]]></content:encoded>
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		<title>pSivida (PSDV) Announces Iluvien® Receives FDA Priority Review for Treatment of Diabetic Macular Edema</title>
		<link>http://traderpower.com/psivida-psdv-announces-iluvien%c2%ae-receives-fda-priority-review-for-treatment-of-diabetic-macular-edema/</link>
		<comments>http://traderpower.com/psivida-psdv-announces-iluvien%c2%ae-receives-fda-priority-review-for-treatment-of-diabetic-macular-edema/#comments</comments>
		<pubDate>Tue, 31 Aug 2010 19:05:53 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://traderpower.com/?p=3440</guid>
		<description><![CDATA[WATERTOWN, Mass.&#8211;(BUSINESS WIRE)&#8211;pSivida Corp. (NASDAQ:PSDV &#8211; News) (ASX:PVA &#8211; News), a leader in the  development of sustained release back of the eye drug delivery systems for  difficult-to-treat conditions, today announced that its licensee, Alimera  Sciences (NASDAQ:ALIM &#8211;  News) has been notified that  the U.S. Food and Drug Administration (FDA) has [...]]]></description>
			<content:encoded><![CDATA[<p>WATERTOWN, Mass.&#8211;(BUSINESS WIRE)&#8211;pSivida Corp. (NASDAQ:<a href="http://finance.yahoo.com/q?s=psdv&amp;d=t">PSDV</a> &#8211; <a href="http://finance.yahoo.com/q/h?s=psdv">News</a>) (ASX:<a href="http://finance.yahoo.com/q?s=pva.ax&amp;d=t">PVA</a> &#8211; <a href="http://finance.yahoo.com/q/h?s=pva.ax">News</a>), a leader in the  development of sustained release back of the eye drug delivery systems for  difficult-to-treat conditions, today announced that its licensee, Alimera  Sciences (NASDAQ:<a href="http://finance.yahoo.com/q?s=alim&amp;d=t">ALIM</a> &#8211;  <a href="http://finance.yahoo.com/q/h?s=alim">News</a>) has been notified that  the U.S. Food and Drug Administration (FDA) has granted Priority Review status  for the New Drug Application (NDA) filed for Iluvien for the treatment diabetic  macular edema (DME).</p>
<p>FDA Priority Review status is given to therapies that offer major advances in  treatment, or provide a treatment where no adequate therapy exists. This status  reduces the review time goal from 10 months to six months.</p>
<p>Dr. Paul Ashton, President and CEO of pSivida said, “With priority review a  response from the FDA regarding Iluvien could be received in the fourth quarter  of this year. Approval of Iluvien would trigger a $25 million milestone payment  to pSivida from Alimera. Under the license agreement pSivida is also to receive  20 percent of net profits on sales by Alimera.”</p>
<p>The news regarding priority review follows the submission last month of the  Marketing Authorization Application to the Medicines and Healthcare products  Regulatory Agency in the United Kingdom. Applications have also been submitted  to regulatory agencies in Austria, France, Germany, Italy, Portugal and Spain.  Filing in Canada is expected to take place in September. pSivida has joint  ownership and reference rights to these regulatory filings.</p>
<p>pSivida continues to work to develop new products for the sustained release  of drugs and proteins based on its existing and new technologies. Additionally,  Pfizer and pSivida are collaborating to develop ophthalmic products based on  pSivida technology. While the Company remains primarily focused in  ophthalmology, pSivida is exploring other therapeutic areas.</p>
<p><strong>About pSivida Corp</strong>.</p>
<p>pSivida Corp. is a world leader in the development of tiny, sustained  release, drug delivery products and technologies that are administered by  implantation, insertion or injection. The Company uses these systems to develop  treatments for serious, unmet, medical needs. pSivida’s intellectual property  portfolio consists of over 50 patent families, more than 100 granted patents,  including patents accepted for issuance, and more than 150 patent applications.  pSivida conducts its operations from Boston in the United States and Malvern in  the United Kingdom.</p>
<p>SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF  1995: Various statements made in this release are forward-looking, and are  inherently subject to risks, uncertainties and potentially inaccurate  assumptions. All statements that address activities, events or developments that  we intend, expect or believe may occur in the future are forward-looking  statements. The following are some of the factors that could cause actual  results to differ materially from the anticipated results or other expectations  expressed, anticipated or implied in our forward-looking statements: maintaining  collaboration agreements with Alimera and Pfizer; modifications of existing  terms of collaboration agreements with Alimera and Pfizer; achievement of  milestones and other contingent contractual events; ability to prove safety and  efficacy of, and achieve regulatory approvals for, and successfully  commercialize Iluvien, BrachySil and other products;; ability to raise capital;  ability to achieve profitability; ability to derive revenues from Retisert;  ability to develop new products; impairment of intangibles; fluctuations in the  fair values of certain outstanding warrants; fluctuations in operating results;  termination of license agreements; ability to obtain partners to develop and  market products; competition; extent of third-party reimbursement for products;  product liability; ability to protect intellectual property or infringement of  others’ intellectual property; retention of key personnel; consolidation in the  pharmaceutical and biotechnology industries; compliance with laws; maintaining  effective internal control over financial reporting; manufacturing risks; risks  and costs of international business operations; volatility of stock price;  possible dilution through exercise of outstanding warrants and stock options or  future stock issuances; possible influence by Pfizer; ability to pay any  registration penalties; and other factors described in our filings with the  Securities and Exchange Commission. Given these uncertainties, readers are  cautioned not to place undue reliance on such forward-looking statements. Our  forward-looking statements speak only as of the dates on which they are made. We  do not undertake any obligation to publicly update or revise our forward-looking  statements even if experience or future changes makes it clear that any  projected results expressed or implied in such statements will not be  realized.</p>
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		<title>iCAD (ICAD) to Ring Nasdaq Closing Bell in Recognition of Prostate Cancer Awareness Month</title>
		<link>http://traderpower.com/icad-icad-to-ring-nasdaq-closing-bell-in-recognition-of-prostate-cancer-awareness-month/</link>
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		<pubDate>Tue, 31 Aug 2010 19:05:35 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

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		<description><![CDATA[NASHUA, N.H., Aug.  31 /PRNewswire/ &#8212; iCAD, Inc. (Nasdaq:ICAD &#8211; News), an industry-leading  provider of advanced image analysis and workflow solutions for the early  identification of cancer, today announced that the executive management team,  including President and CEO Ken Ferry, will ring  the closing bell at the NASDAQ MarketSite in [...]]]></description>
			<content:encoded><![CDATA[<p><span>NASHUA, N.H.</span>, <span>Aug.  31</span> /PRNewswire/ &#8212; iCAD, Inc. (Nasdaq:<a href="http://finance.yahoo.com/q?s=icad">ICAD</a> &#8211; <a href="http://finance.yahoo.com/q/h?s=icad">News</a>), an industry-leading  provider of advanced image analysis and workflow solutions for the early  identification of cancer, today announced that the executive management team,  including President and CEO <span>Ken Ferry</span>, will ring  the closing bell at the NASDAQ MarketSite in <span>New York  City</span>&#8217;s Times Square on <span>September 2, 2010</span> at  <span>4:00 PM ET</span> in recognition of Prostate Cancer  Awareness month.  Faina Shtern, MD, President and CEO of Admetech, a nonprofit  organization dedicated to ending the prostate cancer crisis by supporting the  development of accurate diagnostic tools for early detection and  minimally-invasive treatment, will also be in attendance along with other  physicians and prostate cancer survivors.</p>
<p>To view the multimedia assets associated with this release, please click: <a href="http://us.lrd.yahoo.com/SIG=11i8mg1vj/**http%3A//multivu.prnewswire.com/mnr/icad/45942/">http://multivu.prnewswire.com/mnr/icad/45942/</a></p>
<p>(Photo: <a href="http://us.lrd.yahoo.com/SIG=11n4e97c5/**http%3A//photos.prnewswire.com/prnh/20100831/MM57178">http://photos.prnewswire.com/prnh/20100831/MM57178</a> )</p>
<p>(Photo: <a href="http://us.lrd.yahoo.com/SIG=11pd8cmss/**http%3A//www.newscom.com/cgi-bin/prnh/20100831/MM57178">http://www.newscom.com/cgi-bin/prnh/20100831/MM57178</a> )</p>
<p>&#8220;I am honored to ring the NASDAQ closing bell, and pleased to be provided the  opportunity to raise awareness about prostate cancer,&#8221; said <span>Ken Ferry</span>, President and CEO of iCAD. &#8220;Early detection is  a first-line defense in the journey towards beating cancer, and iCAD is proud to  provide advanced image analysis solutions that help clinicians make a more  accurate diagnosis in conjunction with available screening tools.&#8221;</p>
<p>One in six men will be affected by prostate cancer over the course of their  lifetime, and MRI plays an important role in the accurate diagnosis and  treatment decisions facing prostate cancer patients. VividLook®, iCAD&#8217;s Prostate  MRI advanced image analysis solution, helps radiologists determine malignant  from benign tissues and pinpoint tumor location and size. Additionally,  VividLook provides enhanced diagnostic information by utilizing data from all  available time points, creating colorized image maps based on signal changes  defined by tumor physiology. With advanced diagnostic imaging tools, physicians  can more accurately determine the extent of the prostate cancer, minimize a  patient&#8217;s exposure to unnecessary and painful biopsies and provide more detailed  information for men who choose active surveillance versus surgical or  therapeutic treatment.</p>
<p><strong>About iCAD, Inc.</strong></p>
<p>iCAD, Inc. is an industry-leading provider of advanced image analysis and  workflow solutions that enable healthcare professionals to better serve patients  by identifying pathologies and pinpointing cancer earlier. iCAD offers a  comprehensive range of high-performance, upgradeable Computer-Aided Detection  (CAD) systems and workflow solutions for mammography (film-based, digital  radiography and computed radiography), Magnetic Resonance Imaging (MRI) and  Computed Tomography (CT). Since receiving FDA approval for the Company&#8217;s first  breast cancer detection product in 2002, more than 3,800 iCAD systems have been  placed in healthcare practices worldwide. iCAD&#8217;s solutions aid in the early  detection of the most prevalent cancers including breast, prostate, colon and in  the future lung cancer.  For more information, call (877) iCADnow or visit <a href="http://us.lrd.yahoo.com/SIG=10s51ro0p/**http%3A//www.icadmed.com/">www.icadmed.com</a>.</p>
<p><strong>&#8220;Safe Harbor&#8221; Statement under the Private Securities Litigation Reform Act  of 1995:</strong></p>
<p><em>Certain statements contained in this News Release constitute  &#8220;forward-looking statements&#8221; within the meaning of the Private Securities  Litigation Reform Act of 1995. Such forward-looking statements involve a number  of known and unknown risks, uncertainties and other factors which may cause the  actual results, performance or achievements of the Company to be materially  different from any future results, performance or achievements expressed or  implied by such forward-looking statements. Such factors include, but are not  limited to, the risks of uncertainty of patent protection, the impact of supply  and manufacturing constraints or difficulties, product market acceptance,  possible technological obsolescence, increased competition, customer  concentration and other risks detailed in the Company&#8217;s filings with the  Securities and Exchange Commission. The words &#8220;believe&#8221;, &#8220;demonstrate&#8221;,  &#8220;intend&#8221;, &#8220;expect&#8221;, &#8220;estimate&#8221;, &#8220;anticipate&#8221;, &#8220;likely&#8221;, and similar expressions  identify 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. The Company is under no obligation to provide any  updates to any information contained in this release.</em></p>
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		<title>Energy Focus, Inc. (EFOI) Announces an Additional $410,000 in Department of Defense Funding</title>
		<link>http://traderpower.com/energy-focus-inc-efoi-announces-an-additional-410000-in-department-of-defense-funding/</link>
		<comments>http://traderpower.com/energy-focus-inc-efoi-announces-an-additional-410000-in-department-of-defense-funding/#comments</comments>
		<pubDate>Tue, 31 Aug 2010 19:05:16 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://traderpower.com/?p=3436</guid>
		<description><![CDATA[SOLON, Ohio, Aug. 31, 2010 (GLOBE NEWSWIRE) &#8212; Energy Focus, Inc. (Nasdaq:EFOI &#8211; News), a leader in providing  energy efficient lighting solutions, today announced that its research and  development team has recently been selected to receive funding on three  projects: a Phase I Department of Defense (DoD) Small Business Innovation  Research [...]]]></description>
			<content:encoded><![CDATA[<p>SOLON, Ohio, Aug. 31, 2010 (GLOBE NEWSWIRE) &#8212; Energy Focus, Inc. (Nasdaq:<a href="http://finance.yahoo.com/q?s=efoi">EFOI</a> &#8211; <a href="http://finance.yahoo.com/q/h?s=efoi">News</a>), a leader in providing  energy efficient lighting solutions, today announced that its research and  development team has recently been selected to receive funding on three  projects: a Phase I Department of Defense (DoD) Small Business Innovation  Research (SBIR) Grant to develop additional LED lighting fixtures based on its  proprietary Intellitube(TM) technology for the Naval Air Systems Command  (NAVAIR); increased VHESC funding to accelerate the development of advanced  coatings; and a grant for the development of advanced optical designs totaling  about $410,000.</p>
<p>Roger Buelow, Energy Focus CTO, commented, &#8220;We&#8217;re especially excited about  this additional funding since the work on all three projects directly  contributes to the development of our LED Intellitube technology. The result  will be products that can offer both significant energy savings and longer life  over fluorescent bulb alternatives for commercial as well as military  applications. We believe that our award of the Phase I SBIR can be attributed to  our success in the $1.4 Million NAVSEA contract and the huge potential of our  LED Intellitube technology&#8221;</p>
<p>Joseph Kaveski, CEO, Energy Focus, added: &#8220;We are pleased to announce the  additional $0.4 million in funding landed by Roger and his team. This brings  external funding of R&amp;D projects announced in 2010 to $3 Million. We&#8217;re  especially pleased that the work aligns well with our current efforts to develop  our next generation Intellitube energy efficient lighting system.&#8221;</p>
<p>About Energy Focus, Inc.</p>
<p>Energy Focus, Inc. is a leading provider of turnkey energy efficient lighting  solutions. These solutions provide energy savings, aesthetics, safety and  maintenance cost benefits over conventional lighting. Our long-standing  relationship with the U.S. Government includes numerous research and development  projects for the DOE and DARPA, creating energy efficient LED lighting systems  for the U.S. Navy Fleet and the next generation Very High Efficiency Solar Cell.  Customers include supermarket chains, the U.S. government, state and local  governmental agencies, retail stores, museums, theme parks and casinos, hotels,  swimming pool builders and many others. Company headquarters are located in  Solon, OH, with additional offices in Nashville, TN, Pleasanton, CA, and the  United Kingdom. For more information, see <a href="http://us.lrd.yahoo.com/SIG=113b852mo/**http%3A//www.energyfocusinc.com/" target="_top">www.energyfocusinc.com</a>.</p>
<p>The Energy Focus, Inc. logo is available at <a href="http://us.lrd.yahoo.com/SIG=11sha5eja/**http%3A//www.globenewswire.com/newsroom/prs/%3Fpkgid=6633" target="_top">http://www.globenewswire.com/newsroom/prs/?pkgid=6633</a></p>
<p>Forward-looking statements in this release are made pursuant to the safe  harbor provisions of the Private Securities Litigation Reform Act of 1995. Such  forward-looking statements include statements regarding our future business  outlook, our products, our solutions, and our work with leading customers  including governmental agencies. Investors are cautioned that all  forward-looking statements involve risks and uncertainties. Actual results may  differ materially from the results predicted. For more information about  potential factors that could affect Energy Focus financial results, please refer  to the Company&#8217;s SEC reports, including its Annual Reports on Form 10-K and its  quarterly reports on Form 10-Q. These forward-looking statements speak only as  of the date hereof. Energy Focus disclaims any intention or obligation to update  or revise any forward-looking statements.</p>
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		<title>Protalix BioTherapeutics (PLX) to Dual List on Tel Aviv Stock Exchange</title>
		<link>http://traderpower.com/protalix-biotherapeutics-plx-to-dual-list-on-tel-aviv-stock-exchange/</link>
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		<pubDate>Mon, 30 Aug 2010 14:12:05 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://traderpower.com/?p=3430</guid>
		<description><![CDATA[CARMIEL, Israel, Aug.  30 /PRNewswire-FirstCall/ &#8212; Protalix BioTherapeutics, Inc., (NYSE Amex:  PLX), a biopharmaceutical company focused on the development and  commercialization of recombinant therapeutic proteins expressed through its  proprietary plant cell based expression system, today announced that the  Company&#8217;s common stock has been approved for listing on the Tel Aviv [...]]]></description>
			<content:encoded><![CDATA[<p>CARMIEL, <span>Israel</span>, <span>Aug.  30</span> /PRNewswire-FirstCall/ &#8212; Protalix BioTherapeutics, Inc., (NYSE Amex:  PLX), a biopharmaceutical company focused on the development and  commercialization of recombinant therapeutic proteins expressed through its  proprietary plant cell based expression system, today announced that the  Company&#8217;s common stock has been approved for listing on the Tel Aviv Stock  Exchange in addition to its current listing on the NYSE Amex. Trading of the  Company&#8217;s common stock on the Tel Aviv Stock Exchange will commence on <span>September 6, 2010</span>. The Company also announced today that,  based upon the Company&#8217;s current market capitalization, it expects its common  stock to be included in the TA-75, TA-100, Tel-Tech, Tel-Tech 15 and Biomed  indexes beginning <span>October 10, 2010</span>.</p>
<p>&#8220;We decided to have our common stock listed on the Tel Aviv Stock Exchange,  in addition to the current listing on the NYSE Amex, after experiencing  significant interest regarding our company from Israeli investors.  We believe  that the dual listing will result in a larger, more diverse group of investors  in our shares,&#8221; said <strong><span>David Aviezer</span></strong>, Ph.D.,  Protalix&#8217;s President and Chief Executive Officer. &#8220;We expect that the listing on  the Tel Aviv Stock Exchange will result in increased investor interest in our  shares without affecting the rules and regulations of the U.S. Securities and  Exchange Commission and the NYSE Amex to which we are currently subject.&#8221;</p>
<p>&#8220;We are very pleased to welcome Protalix to the Tel Aviv Stock Exchange,&#8221;  said <strong><span>Ester Levanon</span></strong>, CEO of the Tel Aviv  Stock Exchange.  &#8221;The TASE is home to <span>Israel</span>&#8217;s  most innovative companies among them over 50 biotechnology companies and 51  dual-listed companies.  The listing of Protalix, a leading company in the  biotechnology sector, reflects the international leading position of the Tel  Aviv Stock Exchange in the Hi-Tech and biotech industries&#8221;</p>
<p>The Company will continue to be subject to the rules and regulations of the  NYSE Amex and the U.S. Securities and Exchange Commission.   Dual listing on the  Tel Aviv Stock Exchange is allowed under Israeli law without any additional  regulatory requirements for companies whose shares are listed on certain  exchanges outside of <span>Israel</span>, including the NYSE  Amex.</p>
<p>Trading on the Tel Aviv Stock Exchange occurs Sunday through Thursday from  <span>9:45 am to 4:30 pm</span> <span>Israel</span> time, except on trading holidays recognized by  the Tel Aviv Stock Exchange.   The TASE Clearing House is electronically linked  to the Depository Trust Company, a subsidiary of the Depository Trust &amp;  Clearing Corporation, to automate the cross-border settlement of shares listed  on both the TASE and a U.S. stock exchange.</p>
<p><strong>ABOUT PROTALIX </strong></p>
<p>Protalix is a biopharmaceutical company focused on the development and  commercialization of recombinant therapeutic proteins expressed through its  proprietary plant cell based expression system.  Protalix&#8217;s ProCellEx (TM)  presents a proprietary method for the expression of recombinant proteins that  Protalix believes will allow for the cost-effective, industrial-scale production  of recombinant therapeutic proteins in an environment free of mammalian  components and viruses. Protalix is also advancing additional recombinant  biopharmaceutical drug development programs.  Taliglucerase alfa is an enzyme  replacement therapy in development under a Special Protocol Assessment with the  FDA for Gaucher disease.  Protalix&#8217;s new drug application (NDA) for  taliglucerase alfa has been accepted by the U.S. Food and Drug Administration  (FDA) and granted a Prescription Drug User Fee Act (PDUFA) action date of <span>February 25</span>, 2011.   For more information on Protalix,  visit <a href="http://us.lrd.yahoo.com/SIG=10tard400/**http%3A//www.protalix.com/">http://www.protalix.com</a>.</p>
<p><strong>Safe Harbor Statement</strong></p>
<p>To the extent that statements in this press release are not strictly  historical, all such statements are forward-looking, and are made pursuant to  the safe-harbor provisions of the Private Securities Litigation Reform Act of  1995.  These forward-looking statements, including statements relating to the  perceived effects of dual listing on the market for our common stock, are  subject to known and unknown risks and uncertainties that may cause actual  future experience and results to differ materially from the statements made.   These statements are based on our current beliefs and expectations as to such  future outcomes.  Factors that might cause material differences include, among  others, risks relating to the trading of our common stock on the Tel Aviv Stock  Exchange or the NYSE Amex, risks relating to our continued compliance with the  rules of the Tel Aviv Stock Exchange and the NYSE Amex and other factors  described in our filings with the U.S. Securities and Exchange Commission.  The  statements in this release are valid only as of the date hereof and we disclaim  any obligation to update this information.</p>
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