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		<title>Acasti Pharma Inc. (NEPT) Reports Positive Impacts on Cardiometabolic Associated Disorders</title>
		<link>http://traderpower.com/acasti-pharma-inc-nept-reports-positive-impacts-on-cardiometabolic-associated-disorders/</link>
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		<pubDate>Thu, 02 Sep 2010 19:29:45 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[News]]></category>

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		<description><![CDATA[LAVAL, Quebec, Sept. 2, 2010 (GLOBE NEWSWIRE) &#8212; This release replaces  and supersedes the press release sent earlier today. Acasti Pharma Inc., a  subsidiary of Neptune Technologies &#38; Bioressources Inc. (&#8221;Neptune&#8221;)  (Nasdaq:NEPT &#8211; News) (TSX-V:NTB &#8211; News) reports significant  results on the effects of its anti-dyslipidemic investigational drug candidate  CaPre(TM) [...]]]></description>
			<content:encoded><![CDATA[<p>LAVAL, Quebec, Sept. 2, 2010 (GLOBE NEWSWIRE) &#8212; This release replaces  and supersedes the press release sent earlier today. Acasti Pharma Inc., a  subsidiary of Neptune Technologies &amp; Bioressources Inc. (&#8221;Neptune&#8221;)  (Nasdaq:<a href="http://finance.yahoo.com/q?s=nept">NEPT</a> &#8211; <a href="http://finance.yahoo.com/q/h?s=nept">News</a>) (TSX-V:<a href="http://finance.yahoo.com/q?s=ntb.v">NTB</a> &#8211; <a href="http://finance.yahoo.com/q/h?s=ntb.v">News</a>) reports significant  results on the effects of its anti-dyslipidemic investigational drug candidate  <em>CaPre(TM)</em> on C-reactive protein (CRP) levels, a biomarker of  CardioVascular Disease risk (CVD) and associated with diabetes and obesity.</p>
<p>Severe dyslipidemic animals were treated once-daily with either 0.5g or 2.5g  CaPre(TM) human equivalent dosing per day for 28 days. After dosing, circulating  plasma concentrations of total CRP were measured using a commercially-available  and validated immunoassay kit. The treated animals benefited from the treatment  resulting in a reduction of CRP levels by 15% and 24%, respectively.</p>
<p>It is recognized by the American Heart Association that testing CRP levels in  the blood may be an additional way to assess cardiovascular disease risk. In  addition, the prevalence of high CRP levels is accentuated in overweight and  obese individuals now affecting 60% of the population of 20 years and over  according to the Centers for Disease Control and Prevention (Atlanta, USA).</p>
<p>&#8220;The present results clearly suggest a beneficial lowering effect of  <em>CaPre</em>(TM) on CRP. This observation, combined with our previous findings  that <em>CaPre</em>(TM) reduces triglycerides and LDL-cholesterol (bad  cholesterol) and elevates HDL-cholesterol (good cholesterol), indicates that  <em>CaPre</em>(TM) offers a more complete protection against severe dyslipidemia  and associated systemic inflammatory conditions as cardiometabolic syndrome,&#8221;  said Dr. Farhad Amiri, Associate-Director, Preclinical Studies, R&amp;D.</p>
<p>&#8220;Accumulating evidence in the literature indicates that C-reactive protein,  may be as important as LDL-cholesterol in assessing the development of <a href="http://us.lrd.yahoo.com/SIG=15nkeqnvg/**http%3A//www.globenewswire.com/newsroom/ctr%3Fd=200688%26l=5%26a=atherosclerosis%26u=http%253A%252F%252Fwww.medicinenet.com%252Fscript%252Fmain%252Fart.asp%253Farticlekey%253D15018">atherosclerosis</a> (&#8221;hardening of the arteries&#8221;) and heart disease,&#8221; said Dr. Pierre Lemieux, Chief  Operating Officer of Acasti. &#8220;Chronic inflammation is associated with the most  prevalent health problems today such as obesity and diabetes. It is now  recognized that significant reduction of CRP may constitute an additional tool  in the systemic management of 800,000 myocardial infractions and 700,000 strokes  that occur in the United States each year,&#8221; he added.</p>
<p><strong>About Neptune </strong></p>
<p>Neptune is an industry-recognized leader in the innovation, production and  formulation of science-based and clinically proven novel phospholipid products  for the nutraceutical and pharmaceutical markets. The Company focuses on growing  consumer health markets including cardiovascular, inflammatory and neurological  diseases driven by consumers taking a more proactive approach to managing health  and preventing disease. The Company sponsors clinical trials aimed to  demonstrate its product health benefits and to obtain regulatory approval for  label health claims. Neptune is continuously expanding its intellectual property  portfolio as well as clinical studies and regulatory approvals. Neptune&#8217;s  products are marketed and distributed in over 20 countries worldwide.</p>
<p><strong>About Acasti Pharma Inc. </strong></p>
<p>Acasti Pharma is developing a product portfolio of proprietary novel  long-chain omega-3 phospholipids. Phospholipids are the major component of cell  membranes and are essential for all vital cell processes. They are one of the  principal constituents of High Density Lipoprotein (good cholesterol) and, as  such, play an important role in modulating cholesterol efflux. Acasti Pharma&#8217;s  proprietary novel phospholipids carry and functionalize the polyunsaturated  omega-3 fatty acids EPA and DHA, which have been shown to have substantial  health benefits and which are stabilized by potent antioxidants. Acasti Pharma  is focusing initially on treatments for chronic cardiovascular conditions within  the over-the-counter, medical food and prescription drug markets.</p>
<p><strong>About NeuroBioPharm </strong></p>
<p>NeuroBioPharm is pursuing pharmaceutical neurological applications, and a  clinical study for a medical food product with a multinational partner is  already initiated. The development of a prescription drug candidate is currently  in progress. Advanced clinical development and commercialization is planned to  be carried out with multinational partners.</p>
<p><em>&#8220;Neither NASDAQ nor the TSX Venture Exchange nor its Regulation Services  Provider (as that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this release.&#8221;</em></p>
<p><em></em><em>Statements in this press release that are not statements of historical  or current fact constitute &#8220;forward-looking statements&#8221; </em><em>within the  meaning of the U.S. Private Securities Litigation Reform Act of 1995 and  Canadian securities laws. Such</em> <em>forward-looking statements involve known  and unknown risks, uncertainties, and other unknown factors that could cause </em><em>the actual results of the Company to be materially different from  historical results or from any future results expressed or </em><em>implied by  such forward-looking statements. In addition to statements which explicitly  describe such risks and uncertainties, readers are urged to consider statements  labeled with the terms &#8220;believes,&#8221; &#8220;belief,&#8221; &#8220;expects,&#8221; &#8220;intends,&#8221;  &#8220;anticipates,&#8221; </em><em>&#8220;will,&#8221; or &#8220;plans&#8221; to be uncertain and forward-looking.  The forward-looking statements contained herein are also subject</em> <em>generally to other risks and uncertainties that are described from time to  time in the Company&#8217;s reports filed with the </em><em>Securities and Exchange  Commission and the Canadian securities commissions.</em></p>
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		<title>Rexahn Pharmaceuticals (RNN) Announces Publication of New Preclinical Research Data for Novel Anticancer Compound RX-8243</title>
		<link>http://traderpower.com/rexahn-pharmaceuticals-rnn-announces-publication-of-new-preclinical-research-data-for-novel-anticancer-compound-rx-8243/</link>
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		<pubDate>Thu, 02 Sep 2010 19:28:26 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[News]]></category>

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		<description><![CDATA[Sep. 2, 2010 (Business Wire) &#8212; Rexahn Pharmaceuticals, Inc. (NYSE Amex:  RNN), a clinical stage pharmaceutical company developing and commercializing  potential best in class oncology and CNS therapeutics, today announced the  publication of a research article in Bioorganic &#38; Medicinal Chemistry  Letters on the anti-tumor activity of RX-8243 and its analogues.
The [...]]]></description>
			<content:encoded><![CDATA[<p>Sep. 2, 2010 (Business Wire) &#8212; Rexahn Pharmaceuticals, Inc. (NYSE Amex:  RNN), a clinical stage pharmaceutical company developing and commercializing  potential best in class oncology and CNS therapeutics, today announced the  publication of a research article in <em>Bioorganic &amp; Medicinal Chemistry  Letters</em> on the anti-tumor activity of RX-8243 and its analogues.</p>
<p>The article offers data demonstrating that RX-8243, an isoquinolineamine  analogue, significantly inhibits the growth of human cancer cells, including  paclitaxel (Taxol<sup>®</sup>) resistant HCT-15 human colorectal cancer cells  and the growth of tumor in <em>in vivo</em> model of nude mice injected with  paclitaxel-resistant HCT-15 human colorectal cancer cells.</p>
<p>“We are encouraged by the results of this study of RX-8243, which shows the  potent anti-tumor properties of this unique compound,” said Chang Ahn, Chief  Executive Officer of Rexahn. “The study clearly demonstrates that RX-8243  inhibited tumor formation in paclitaxel-resistant cancer model, suggesting that  isoquinolineamine and its analogues have the potential to become a novel class  of anti-tumor chemotherapeutics.”</p>
<p><strong>About Rexahn Pharmaceuticals, Inc.</strong></p>
<p>Rexahn Pharmaceuticals is a clinical stage pharmaceutical company dedicated  to developing and commercializing first in class and market leading therapeutics  for cancer, CNS disorders, sexual dysfunction and other unmet medical needs.  Rexahn currently has three drug candidates in Phase II clinical trials,  Archexin®, Serdaxin®, and Zoraxel™ &#8211; all potential best in class therapeutics &#8211;  and a robust pipeline of preclinical compounds to treat multiple cancers and CNS  disorders. Rexahn also operates key R&amp;D programs of nano-medicines, 3D-GOLD,  and TIMES drug discovery platforms. For more information, please visit  www.rexahn.com.</p>
<p><strong>Safe Harbor</strong></p>
<p>To the extent any statements made in this press release deal with information  that is not historical, these are forward-looking statements under the Private  Securities Litigation Reform Act of 1995. Such statements include, but are not  limited to, statements about Rexahn&#8217;s plans, objectives, expectations and  intentions with respect to future operations and products and other statements  identified by words such as &#8220;will,&#8221; &#8220;potential,&#8221; &#8220;could,&#8221; &#8220;can,&#8221; &#8220;believe,&#8221;  &#8220;intends,&#8221; &#8220;continue,&#8221; &#8220;plans,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;estimates,&#8221; &#8220;may,&#8221;  other words of similar meaning or the use of future dates. Forward-looking  statements by their nature address matters that are, to different degrees,  uncertain. Uncertainties and risks may cause Rexahn&#8217;s actual results to be  materially different than those expressed in or implied by Rexahn&#8217;s  forward-looking statements. For Rexahn, particular uncertainties and risks  include, among others, the difficulty of developing pharmaceutical products,  obtaining regulatory and other approvals and achieving market acceptance; the  marketing success of Rexahn&#8217;s licensees or sublicensees; the success of clinical  testing; and Rexahn&#8217;s need for and ability to obtain additional financing. More  detailed information on these and additional factors that could affect Rexahn&#8217;s  actual results are described in Rexahn&#8217;s filings with the Securities and  Exchange Commission, including its most recent annual report on Form 10-K and  subsequent quarterly reports on Form 10-Q. All forward-looking statements in  this news release speak only as of the date of this news release. Rexahn  undertakes no obligation to update or revise any forward-looking statement,  whether as a result of new information, future events or otherwise.</p>
<p><img src="http://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20100902005193r1&amp;sid=newst&amp;distro=nx" alt="" /></p>
<p><img src="http://links.newstex.com/image?c=9100008&amp;p=103626&amp;s=48375289" alt="" /></p>
<p><strong>Stern Investor Relations, Inc.</strong></p>
<p>Stephanie Ascher,  212-362-1200</p>
<p><a href="mailto:stephanie@sternir.com" target="_blank">stephanie@sternir.com</a></p>
<p>or</p>
<p><strong>Base Pair  Communications</strong></p>
<p>Constantine Theodoropulos, 617-401-3116</p>
<p><a href="mailto:constantine@basepaircomm.com" target="_blank">constantine@basepaircomm.com</a></p>
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		<title>Sycamore Networks, Inc. (SCMR) Reports Fourth Quarter and Fiscal Year 2010 Financial Results</title>
		<link>http://traderpower.com/sycamore-networks-inc-scmr-reports-fourth-quarter-and-fiscal-year-2010-financial-results/</link>
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		<pubDate>Thu, 02 Sep 2010 19:27:06 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[News]]></category>

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		<description><![CDATA[Sep. 2, 2010 (Business Wire) &#8212; Sycamore Networks, Inc. (NASDAQ: SCMR), today  reported its results for the fourth quarter and fiscal year ended July 31, 2010.  Revenue for the fourth quarter of fiscal 2010 was $22.2 million, compared with  $17.2 million for the fourth quarter of fiscal 2009. Revenue for fiscal 2010 [...]]]></description>
			<content:encoded><![CDATA[<p>Sep. 2, 2010 (Business Wire) &#8212; Sycamore Networks, Inc. (NASDAQ: SCMR), today  reported its results for the fourth quarter and fiscal year ended July 31, 2010.  Revenue for the fourth quarter of fiscal 2010 was $22.2 million, compared with  $17.2 million for the fourth quarter of fiscal 2009. Revenue for fiscal 2010 was  $68.6 million compared to $67.4 million in fiscal 2009.</p>
<p>Net income for the fourth quarter of fiscal 2010, on a generally accepted  accounting principles (“GAAP”) basis, was $0.5 million, or $0.02 per diluted  share, compared with a GAAP net loss of $34.9 million, or $1.23 per share for  the fourth quarter of fiscal 2009. Net loss for fiscal 2010, on a GAAP basis,  was $14.8 million, or $0.52 per share, compared with a GAAP net loss of $53.6  million, or $1.89 per share for fiscal 2009.</p>
<p>Non-GAAP net income for the fourth quarter of fiscal 2010 was $1.3 million,  or $0.05 per diluted share, compared with non-GAAP net loss of $6.5 million, or  $0.23 per share for the fourth quarter of fiscal 2009. Non-GAAP net loss for  fiscal 2010 was $4.8 million, or $0.17 per share, compared with non-GAAP net  loss of $19.5 million, or $0.69 per share for fiscal 2009. The reconciliation  between net loss on a GAAP basis and net loss on a non-GAAP basis is provided in  a table immediately following the Unaudited Non-GAAP Consolidated Statements of  Operations included with this release.</p>
<p>&#8220;We are pleased with our fourth quarter operating results. Sycamore achieved  revenue growth, continued strong margin performance and was cash positive,&#8221; said  Daniel E. Smith, Sycamore&#8217;s president and chief executive officer. &#8220;These  results, combined with our focus on effective cost management, enabled the  company to achieve operating profitability, on a non-GAAP basis, in the quarter,  while continuing to invest in IQstream™, our recently announced mobile broadband  optimization solution.&#8221;</p>
<p><strong>About Sycamore Networks</strong></p>
<p>Sycamore Networks, Inc. (NASDAQ: SCMR) develops and markets intelligent  bandwidth management solutions for fixed line and mobile network operators  worldwide. We also develop and market a mobile broadband solution designed to  help mobile operators reduce congestion in mobile access networks. Sycamore  products enable network operators to lower overall network costs, increase  operational efficiencies, and rapidly deploy new revenue-generating services.  Sycamore&#8217;s global customer base includes Tier 1 service providers, government  agencies, and utility companies. For more information, please visit  www.sycamorenet.com.</p>
<p><strong>Use of Non-GAAP Financial Measures</strong></p>
<p>The Company provides non-GAAP financial data in addition to providing  financial results in accordance with generally accepted accounting principles  (GAAP). These measures are not in accordance with or an alternative for GAAP,  and may be different from non-GAAP measures used by other companies. The Company  believes that the items excluded from the non-GAAP results have one or more of  the following characteristics: their magnitude and timing is largely outside of  the Company’s control; they are unrelated to the ongoing operation of the  business in the ordinary course; they are unusual, and the Company does not  expect them to occur in the ordinary course of business; or they are  non-operational, non-cash expenses involving stock option grants.</p>
<p>The non-GAAP financial data is provided to enhance the reader’s overall  understanding of the Company’s current financial performance and its prospects  for the future. Specifically, the Company believes the non-GAAP results provide  useful information to both management and investors by excluding certain expense  and income items that the Company believes are not indicative of the Company’s  core operating results. In addition, since the Company has historically reported  non-GAAP results to the investment community, the Company believes the inclusion  of non-GAAP numbers provides consistency in its financial reporting. Further,  these non-GAAP results are one of the primary indicators management uses for  planning and forecasting in future periods. The non-GAAP financial data should  be considered in addition to, not as a substitute for or a more appropriate  indicator of, operating results, cash flows, or other measures of financial  performance prepared in accordance with GAAP.</p>
<p>We wish to caution you that certain matters discussed in this news release  may constitute forward-looking statements regarding future events that involve  risks and uncertainties. Risks and uncertainties in the Company’s business  include, but are not limited to, reliance on a limited number of customers;  industry pricing pressures; the Company’s decision to focus future development  efforts on mobile broadband opportunities; the high cost of product development  and keeping pace with evolving features and technologies desired by customers;  unexpected difficulties in developing and marketing new mobile broadband  products and the inability of new products to achieve market acceptance or to  function as expected; the consolidation of both suppliers and customers in the  telecommunications marketplace; and general economic conditions. Certain  additional risks are set forth in more detail in the section entitled &#8220;Risk  Factors&#8221; in the Company&#8217;s reports filed on Forms 10-Q and 10-K with the  Securities and Exchange Commission. The Company disclaims any intention or  obligation to update or revise any forward-looking statements, whether as a  result of new information, future results or otherwise.</p>
<table id="t6415805_1" border="0" cellspacing="0">
<tbody>
<tr>
<td id="t6415805_1_0_9280" colspan="9"><strong>Sycamore Networks, Inc.</strong></p>
<p><strong>Unaudited Condensed Consolidated Balance  Sheets</strong></p>
<p><strong>(in thousands)</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 id="t6415805_1_2_6750" colspan="3"><strong>July 31, 2010</strong></td>
<td></td>
<td id="t6415805_1_2_9280" colspan="3"><strong>July 31, 2009</strong></td>
</tr>
<tr>
<td id="t6415805_1_3_5040"><strong>Assets</strong></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 id="t6415805_1_5_5040">Current assets:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_1_6_5040">Cash and cash  equivalents</td>
<td></td>
<td id="t6415805_1_6_6255">$</td>
<td id="t6415805_1_6_6660">104,416</td>
<td></td>
<td></td>
<td id="t6415805_1_6_7560">$</td>
<td id="t6415805_1_6_8280">347,696</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_7_5040">Short-term  investments</td>
<td></td>
<td></td>
<td id="t6415805_1_7_6660">450,722</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_7_8280">273,387</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_8_5040">Accounts  receivable, net</td>
<td></td>
<td></td>
<td id="t6415805_1_8_6660">14,168</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_8_8280">12,860</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_9_5040">Inventories</td>
<td></td>
<td></td>
<td id="t6415805_1_9_6660">11,175</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_9_8280">16,058</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_10_5040">Prepaids  and other current assets</td>
<td></td>
<td></td>
<td id="t6415805_1_10_6660">1,873</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_10_8280">2,388</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_11_5040">Total current  assets</td>
<td></td>
<td></td>
<td id="t6415805_1_11_6660">582,354</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_11_8280">652,389</td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_1_13_5040">Property and  equipment, net</td>
<td></td>
<td></td>
<td id="t6415805_1_13_6660">6,569</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_13_8280">13,342</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_14_5040">Long-term  investments</td>
<td></td>
<td></td>
<td id="t6415805_1_14_6660">81,739</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_14_8280">305,725</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_15_5040">Other  assets</td>
<td></td>
<td></td>
<td id="t6415805_1_15_6660">358</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_15_8280">357</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_16_5040"><strong>Total  Assets</strong></td>
<td></td>
<td id="t6415805_1_16_6255">$</td>
<td id="t6415805_1_16_6660">671,020</td>
<td></td>
<td></td>
<td id="t6415805_1_16_7560">$</td>
<td id="t6415805_1_16_8280">971,813</td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_1_18_5040"><strong>Liabilities and  Stockholders&#8217; Equity</strong></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_1_20_5040">Current  liabilities:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_1_21_5040">Deferred revenue</td>
<td></td>
<td id="t6415805_1_21_6255">$</td>
<td id="t6415805_1_21_6660">10,930</td>
<td></td>
<td></td>
<td id="t6415805_1_21_7560">$</td>
<td id="t6415805_1_21_8280">11,003</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_22_5040">Other  current liabilities</td>
<td></td>
<td></td>
<td id="t6415805_1_22_6660">10,455</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_22_8280">14,034</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_23_5040">Total current  liabilities</td>
<td></td>
<td></td>
<td id="t6415805_1_23_6660">21,385</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_23_8280">25,037</td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_1_25_5040">Long term deferred  revenue</td>
<td></td>
<td></td>
<td id="t6415805_1_25_6660">3,918</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_25_8280">4,530</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_26_5040">Long  term liability</td>
<td></td>
<td></td>
<td id="t6415805_1_26_6660">1,714</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_26_8280">1,821</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_27_5040">Total  liabilities</td>
<td></td>
<td></td>
<td id="t6415805_1_27_6660">27,017</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_27_8280">31,388</td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_1_29_5040">Common stock</td>
<td></td>
<td></td>
<td id="t6415805_1_29_6660">28</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_29_8280">28</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_30_5040">Additional paid-in  capital</td>
<td></td>
<td></td>
<td id="t6415805_1_30_6660">1,759,520</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_30_8280">2,040,317</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_31_5040">Accumulated  deficit</td>
<td></td>
<td></td>
<td id="t6415805_1_31_6660">(1,116,160</td>
<td id="t6415805_1_31_6750">)</td>
<td></td>
<td></td>
<td id="t6415805_1_31_8280">(1,101,355</td>
<td id="t6415805_1_31_9280">)</td>
</tr>
<tr>
<td id="t6415805_1_32_5040">Other  equity</td>
<td></td>
<td></td>
<td id="t6415805_1_32_6660">615</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_32_8280">1,435</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_33_5040">Total  stockholders&#8217; equity</td>
<td></td>
<td></td>
<td id="t6415805_1_33_6660">644,003</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_1_33_8280">940,425</td>
<td></td>
</tr>
<tr>
<td id="t6415805_1_34_5040"><strong>Total  Liabilities and Stockholders&#8217; Equity</strong></td>
<td></td>
<td id="t6415805_1_34_6255">$</td>
<td id="t6415805_1_34_6660">671,020</td>
<td></td>
<td></td>
<td id="t6415805_1_34_7560">$</td>
<td id="t6415805_1_34_8280">971,813</td>
<td></td>
</tr>
</tbody>
</table>
<table id="t6415805_2" border="0" cellspacing="0">
<tbody>
<tr>
<td id="t6415805_2_0_11080" colspan="17"><strong>Sycamore Networks, Inc.</strong></p>
<p><strong>Unaudited Consolidated Statements of  Operations</strong></p>
<p><strong>(in thousands, except per share data)</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="7"></td>
<td></td>
<td colspan="7"></td>
</tr>
<tr>
<td></td>
<td></td>
<td id="t6415805_2_2_7290" colspan="7"><strong>Three Months Ended</strong></td>
<td></td>
<td id="t6415805_2_2_11080" colspan="7"><strong>Year Ended</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td id="t6415805_2_3_5800" colspan="3"><strong>July 31,</strong></p>
<p><strong>2010</strong></td>
<td></td>
<td id="t6415805_2_3_7290" colspan="3"><strong>July 31,</strong></p>
<p><strong>2009</strong></td>
<td></td>
<td id="t6415805_2_3_8780" colspan="3"><strong>July 31,</strong></p>
<p><strong>2010</strong></td>
<td></td>
<td id="t6415805_2_3_11080" colspan="3"><strong>July 31,</strong></p>
<p><strong>2009</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_2_5_4500">Revenue</td>
<td></td>
<td id="t6415805_2_5_5445">$</td>
<td id="t6415805_2_5_5760">22,232</td>
<td></td>
<td></td>
<td id="t6415805_2_5_6430">$</td>
<td id="t6415805_2_5_7020">17,245</td>
<td></td>
<td></td>
<td id="t6415805_2_5_8150">$</td>
<td id="t6415805_2_5_8740">68,617</td>
<td></td>
<td></td>
<td id="t6415805_2_5_9450">$</td>
<td id="t6415805_2_5_10080">67,357</td>
<td></td>
</tr>
<tr>
<td id="t6415805_2_6_4500">Cost  of revenue</td>
<td></td>
<td></td>
<td id="t6415805_2_6_5760">10,171</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_6_7020">10,194</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_6_8740">30,954</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_6_10080">38,469</td>
<td></td>
</tr>
<tr>
<td id="t6415805_2_7_4500">Gross profit</td>
<td></td>
<td></td>
<td id="t6415805_2_7_5760">12,061</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_7_7020">7,051</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_7_8740">37,663</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_7_10080">28,888</td>
<td></td>
</tr>
<tr>
<td id="t6415805_2_8_4500"></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="t6415805_2_9_4500">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="t6415805_2_10_4500">Research and  development</td>
<td></td>
<td></td>
<td id="t6415805_2_10_5760">7,469</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_10_7020">12,725</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_10_8740">31,685</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_10_10080">50,134</td>
<td></td>
</tr>
<tr>
<td id="t6415805_2_11_4500">Sales and  marketing</td>
<td></td>
<td></td>
<td id="t6415805_2_11_5760">2,869</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_11_7020">3,185</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_11_8740">10,942</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_11_10080">14,551</td>
<td></td>
</tr>
<tr>
<td id="t6415805_2_12_4500">General and  administrative</td>
<td></td>
<td></td>
<td id="t6415805_2_12_5760">2,125</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_12_7020">2,625</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_12_8740">9,098</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_12_10080">8,198</td>
<td></td>
</tr>
<tr>
<td id="t6415805_2_13_4500">Restructuring  expense</td>
<td></td>
<td></td>
<td id="t6415805_2_13_5760">(25</td>
<td id="t6415805_2_13_5800">)</td>
<td></td>
<td></td>
<td id="t6415805_2_13_7020">2,783</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_13_8740">5,625</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_13_10080">3,600</td>
<td></td>
</tr>
<tr>
<td id="t6415805_2_14_4500">Asset  impairment</td>
<td></td>
<td></td>
<td id="t6415805_2_14_5760">-</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_14_7020">24,209</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_14_8740">1,076</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_14_10080">24,209</td>
<td></td>
</tr>
<tr>
<td id="t6415805_2_15_4500">Total  operating expenses</td>
<td></td>
<td></td>
<td id="t6415805_2_15_5760">12,438</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_15_7020">45,527</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_15_8740">58,426</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_15_10080">100,692</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="t6415805_2_17_4500">Loss from  operations</td>
<td></td>
<td></td>
<td id="t6415805_2_17_5760">(377</td>
<td id="t6415805_2_17_5800">)</td>
<td></td>
<td></td>
<td id="t6415805_2_17_7020">(38,476</td>
<td id="t6415805_2_17_7290">)</td>
<td></td>
<td></td>
<td id="t6415805_2_17_8740">(20,763</td>
<td id="t6415805_2_17_8780">)</td>
<td></td>
<td></td>
<td id="t6415805_2_17_10080">(71,804</td>
<td id="t6415805_2_17_11080">)</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="t6415805_2_19_4500">Interest  and other income, net</td>
<td></td>
<td></td>
<td id="t6415805_2_19_5760">1,023</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_19_7020">3,149</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_19_8740">5,592</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_19_10080">18,000</td>
<td></td>
</tr>
<tr>
<td id="t6415805_2_20_4500">Income (loss)  before income taxes</td>
<td></td>
<td></td>
<td id="t6415805_2_20_5760">646</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_20_7020">(35,327</td>
<td id="t6415805_2_20_7290">)</td>
<td></td>
<td></td>
<td id="t6415805_2_20_8740">(15,171</td>
<td id="t6415805_2_20_8780">)</td>
<td></td>
<td></td>
<td id="t6415805_2_20_10080">(53,804</td>
<td id="t6415805_2_20_11080">)</td>
</tr>
<tr>
<td id="t6415805_2_21_4500">Income  tax expense (benefit)</td>
<td></td>
<td></td>
<td id="t6415805_2_21_5760">125</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_21_7020">(397</td>
<td id="t6415805_2_21_7290">)</td>
<td></td>
<td></td>
<td id="t6415805_2_21_8740">(366</td>
<td id="t6415805_2_21_8780">)</td>
<td></td>
<td></td>
<td id="t6415805_2_21_10080">(232</td>
<td id="t6415805_2_21_11080">)</td>
</tr>
<tr>
<td id="t6415805_2_22_4500">Net  income (loss)</td>
<td></td>
<td id="t6415805_2_22_5445">$</td>
<td id="t6415805_2_22_5760">521</td>
<td></td>
<td></td>
<td id="t6415805_2_22_6430">$</td>
<td id="t6415805_2_22_7020">(34,930</td>
<td id="t6415805_2_22_7290">)</td>
<td></td>
<td id="t6415805_2_22_8150">$</td>
<td id="t6415805_2_22_8740">(14,805</td>
<td id="t6415805_2_22_8780">)</td>
<td></td>
<td id="t6415805_2_22_9450">$</td>
<td id="t6415805_2_22_10080">(53,572</td>
<td id="t6415805_2_22_11080">)</td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_2_24_4500">Net income (loss)  per share:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_2_25_4500">Basic</td>
<td></td>
<td id="t6415805_2_25_5445">$</td>
<td id="t6415805_2_25_5760">0.02</td>
<td></td>
<td></td>
<td id="t6415805_2_25_6430">$</td>
<td id="t6415805_2_25_7020">(1.23</td>
<td id="t6415805_2_25_7290">)</td>
<td></td>
<td id="t6415805_2_25_8150">$</td>
<td id="t6415805_2_25_8740">(0.52</td>
<td id="t6415805_2_25_8780">)</td>
<td></td>
<td id="t6415805_2_25_9450">$</td>
<td id="t6415805_2_25_10080">(1.89</td>
<td id="t6415805_2_25_11080">)</td>
</tr>
<tr>
<td id="t6415805_2_26_4500">Diluted</td>
<td></td>
<td id="t6415805_2_26_5445">$</td>
<td id="t6415805_2_26_5760">0.02</td>
<td></td>
<td></td>
<td id="t6415805_2_26_6430">$</td>
<td id="t6415805_2_26_7020">(1.23</td>
<td id="t6415805_2_26_7290">)</td>
<td></td>
<td id="t6415805_2_26_8150">$</td>
<td id="t6415805_2_26_8740">(0.52</td>
<td id="t6415805_2_26_8780">)</td>
<td></td>
<td id="t6415805_2_26_9450">$</td>
<td id="t6415805_2_26_10080">(1.89</td>
<td id="t6415805_2_26_11080">)</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="t6415805_2_28_4500">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="t6415805_2_29_4500">Basic</td>
<td></td>
<td></td>
<td id="t6415805_2_29_5760">28,427</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_29_7020">28,380</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_29_8740">28,422</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_29_10080">28,359</td>
<td></td>
</tr>
<tr>
<td id="t6415805_2_30_4500">Diluted</td>
<td></td>
<td></td>
<td id="t6415805_2_30_5760">28,427</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_30_7020">28,380</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_30_8740">28,422</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_2_30_10080">28,359</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="t6415805_2_32_11080" colspan="17">Common share and per share data for all periods  presented have been adjusted to give effect to the December 21, 2009 1 for 10  reverse stock split.</td>
</tr>
</tbody>
</table>
<table id="t6415805_3" border="0" cellspacing="0">
<tbody>
<tr>
<td id="t6415805_3_0_11080" colspan="16"><strong>Sycamore Networks, Inc.</strong></p>
<p><strong>Unaudited Non-GAAP Consolidated Statements of  Operations</strong></p>
<p><strong>(in thousands, except per share data)</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="6"></td>
<td></td>
<td colspan="7"></td>
</tr>
<tr>
<td></td>
<td></td>
<td id="t6415805_3_2_7290" colspan="6"><strong>Three Months Ended</strong></td>
<td></td>
<td id="t6415805_3_2_11080" colspan="7"><strong>Year Ended</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td id="t6415805_3_3_5760" colspan="2"><strong>July 31,</strong></p>
<p><strong>2010</strong></td>
<td></td>
<td id="t6415805_3_3_7290" colspan="3"><strong>July 31,</strong></p>
<p><strong>2009</strong></td>
<td id="t6415805_3_3_7560"></td>
<td id="t6415805_3_3_8780" colspan="3"><strong>July 31,</strong></p>
<p><strong>2010</strong></td>
<td></td>
<td id="t6415805_3_3_11080" colspan="3"><strong>July 31,</strong></p>
<p><strong>2009</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_3_5_4500">Revenue</td>
<td></td>
<td id="t6415805_3_5_5445">$</td>
<td id="t6415805_3_5_5760">22,232</td>
<td></td>
<td id="t6415805_3_5_6430">$</td>
<td id="t6415805_3_5_7020">17,245</td>
<td></td>
<td></td>
<td id="t6415805_3_5_8150">$</td>
<td id="t6415805_3_5_8740">68,617</td>
<td></td>
<td></td>
<td id="t6415805_3_5_9450">$</td>
<td id="t6415805_3_5_10080">67,357</td>
<td></td>
</tr>
<tr>
<td id="t6415805_3_6_4500">Cost  of revenue</td>
<td></td>
<td></td>
<td id="t6415805_3_6_5760">10,043</td>
<td></td>
<td></td>
<td id="t6415805_3_6_7020">9,982</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_6_8740">30,386</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_6_10080">37,489</td>
<td></td>
</tr>
<tr>
<td id="t6415805_3_7_4500">Gross profit</td>
<td></td>
<td></td>
<td id="t6415805_3_7_5760">12,189</td>
<td></td>
<td></td>
<td id="t6415805_3_7_7020">7,263</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_7_8740">38,231</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_7_10080">29,868</td>
<td></td>
</tr>
<tr>
<td id="t6415805_3_8_4500"></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_3_9_4500">Operating  expenses:</td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_3_10_4500">Research and  development</td>
<td></td>
<td></td>
<td id="t6415805_3_10_5760">7,206</td>
<td></td>
<td></td>
<td id="t6415805_3_10_7020">12,235</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_10_8740">30,593</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_10_10080">48,127</td>
<td></td>
</tr>
<tr>
<td id="t6415805_3_11_4500">Sales and  marketing</td>
<td></td>
<td></td>
<td id="t6415805_3_11_5760">2,626</td>
<td></td>
<td></td>
<td id="t6415805_3_11_7020">2,919</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_11_8740">10,018</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_11_10080">13,362</td>
<td></td>
</tr>
<tr>
<td id="t6415805_3_12_4500">General  and administrative</td>
<td></td>
<td></td>
<td id="t6415805_3_12_5760">1,925</td>
<td></td>
<td></td>
<td id="t6415805_3_12_7020">2,182</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_12_8740">8,333</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_12_10080">6,113</td>
<td></td>
</tr>
<tr>
<td id="t6415805_3_13_4500">Total  operating expenses</td>
<td></td>
<td></td>
<td id="t6415805_3_13_5760">11,757</td>
<td></td>
<td></td>
<td id="t6415805_3_13_7020">17,336</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_13_8740">48,944</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_13_10080">67,602</td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_3_15_4500">Income (loss) from  operations</td>
<td></td>
<td></td>
<td id="t6415805_3_15_5760">432</td>
<td></td>
<td></td>
<td id="t6415805_3_15_7020">(10,073</td>
<td id="t6415805_3_15_7290">)</td>
<td></td>
<td></td>
<td id="t6415805_3_15_8740">(10,713</td>
<td id="t6415805_3_15_8780">)</td>
<td></td>
<td></td>
<td id="t6415805_3_15_10080">(37,734</td>
<td id="t6415805_3_15_11080">)</td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_3_17_4500">Interest  and other income, net</td>
<td></td>
<td></td>
<td id="t6415805_3_17_5760">1,023</td>
<td></td>
<td></td>
<td id="t6415805_3_17_7020">3,149</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_17_8740">5,592</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_17_10080">18,000</td>
<td></td>
</tr>
<tr>
<td id="t6415805_3_18_4500">Income (loss)  before income taxes</td>
<td></td>
<td></td>
<td id="t6415805_3_18_5760">1,455</td>
<td></td>
<td></td>
<td id="t6415805_3_18_7020">(6,924</td>
<td id="t6415805_3_18_7290">)</td>
<td></td>
<td></td>
<td id="t6415805_3_18_8740">(5,121</td>
<td id="t6415805_3_18_8780">)</td>
<td></td>
<td></td>
<td id="t6415805_3_18_10080">(19,734</td>
<td id="t6415805_3_18_11080">)</td>
</tr>
<tr>
<td id="t6415805_3_19_4500">Income  tax expense (benefit)</td>
<td></td>
<td></td>
<td id="t6415805_3_19_5760">125</td>
<td></td>
<td></td>
<td id="t6415805_3_19_7020">(397</td>
<td id="t6415805_3_19_7290">)</td>
<td></td>
<td></td>
<td id="t6415805_3_19_8740">(366</td>
<td id="t6415805_3_19_8780">)</td>
<td></td>
<td></td>
<td id="t6415805_3_19_10080">(232</td>
<td id="t6415805_3_19_11080">)</td>
</tr>
<tr>
<td id="t6415805_3_20_4500">Net  income (loss)</td>
<td></td>
<td id="t6415805_3_20_5445">$</td>
<td id="t6415805_3_20_5760">1,330</td>
<td></td>
<td id="t6415805_3_20_6430">$</td>
<td id="t6415805_3_20_7020">(6,527</td>
<td id="t6415805_3_20_7290">)</td>
<td></td>
<td id="t6415805_3_20_8150">$</td>
<td id="t6415805_3_20_8740">(4,755</td>
<td id="t6415805_3_20_8780">)</td>
<td></td>
<td id="t6415805_3_20_9450">$</td>
<td id="t6415805_3_20_10080">(19,502</td>
<td id="t6415805_3_20_11080">)</td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_3_22_4500">Net income (loss)  per share:</td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_3_23_4500">Basic</td>
<td></td>
<td id="t6415805_3_23_5445">$</td>
<td id="t6415805_3_23_5760">0.05</td>
<td></td>
<td id="t6415805_3_23_6430">$</td>
<td id="t6415805_3_23_7020">(0.23</td>
<td id="t6415805_3_23_7290">)</td>
<td></td>
<td id="t6415805_3_23_8150">$</td>
<td id="t6415805_3_23_8740">(0.17</td>
<td id="t6415805_3_23_8780">)</td>
<td></td>
<td id="t6415805_3_23_9450">$</td>
<td id="t6415805_3_23_10080">(0.69</td>
<td id="t6415805_3_23_11080">)</td>
</tr>
<tr>
<td id="t6415805_3_24_4500">Diluted</td>
<td></td>
<td id="t6415805_3_24_5445">$</td>
<td id="t6415805_3_24_5760">0.05</td>
<td></td>
<td id="t6415805_3_24_6430">$</td>
<td id="t6415805_3_24_7020">(0.23</td>
<td id="t6415805_3_24_7290">)</td>
<td></td>
<td id="t6415805_3_24_8150">$</td>
<td id="t6415805_3_24_8740">(0.17</td>
<td id="t6415805_3_24_8780">)</td>
<td></td>
<td id="t6415805_3_24_9450">$</td>
<td id="t6415805_3_24_10080">(0.69</td>
<td id="t6415805_3_24_11080">)</td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_3_26_4500">Weighted average  shares outstanding:</td>
<td></td>
<td colspan="2"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_3_27_4500">Basic</td>
<td></td>
<td></td>
<td id="t6415805_3_27_5760">28,427</td>
<td></td>
<td></td>
<td id="t6415805_3_27_7020">28,380</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_27_8740">28,422</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_27_10080">28,359</td>
<td></td>
</tr>
<tr>
<td id="t6415805_3_28_4500">Diluted</td>
<td></td>
<td></td>
<td id="t6415805_3_28_5760">28,427</td>
<td></td>
<td></td>
<td id="t6415805_3_28_7020">28,380</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_28_8740">28,422</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_3_28_10080">28,359</td>
<td></td>
</tr>
<tr>
<td colspan="16"></td>
</tr>
<tr>
<td id="t6415805_3_30_11080" colspan="16">Common share and per share data for all periods  presented have been adjusted to give effect to the December 21, 2009 1 for 10  reverse stock split.</td>
</tr>
</tbody>
</table>
<table id="t6415805_4" border="0" cellspacing="0">
<tbody>
<tr>
<td id="t6415805_4_0_11080" colspan="20"><strong>Sycamore Networks, Inc.</strong></p>
<p><strong>Reconciliation of GAAP to Non-GAAP Net  Income</strong></p>
<p><strong>(in thousands, except per share data)</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="7"></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="7"></td>
</tr>
<tr>
<td></td>
<td></td>
<td id="t6415805_4_2_7290" colspan="7"><strong>Three Months Ended</strong></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_2_11080" colspan="7"><strong>Year Ended</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td id="t6415805_4_3_5800" colspan="3"><strong>July 31,</strong></p>
<p><strong>2010</strong></td>
<td></td>
<td id="t6415805_4_3_7290" colspan="3"><strong>July 31,</strong></p>
<p><strong>2009</strong></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_3_8780" colspan="3"><strong>July 31,</strong></p>
<p><strong>2010</strong></td>
<td></td>
<td id="t6415805_4_3_11080" colspan="3"><strong>July 31,</strong></p>
<p><strong>2009</strong></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_4_5_4500">GAAP  net income (loss)</td>
<td></td>
<td id="t6415805_4_5_5445">$</td>
<td id="t6415805_4_5_5760">521</td>
<td></td>
<td></td>
<td id="t6415805_4_5_6430">$</td>
<td id="t6415805_4_5_7020">(34,930</td>
<td id="t6415805_4_5_7290">)</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_5_8150">$</td>
<td id="t6415805_4_5_8740">(14,805</td>
<td id="t6415805_4_5_8780">)</td>
<td></td>
<td id="t6415805_4_5_9450">$</td>
<td id="t6415805_4_5_10080">(53,572</td>
<td id="t6415805_4_5_11080">)</td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_4_7_4500">Stock-based  compensation expense:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_4_8_4500">Cost of revenue</td>
<td></td>
<td></td>
<td id="t6415805_4_8_5760">128</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_8_7020">142</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_8_8740">509</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_8_10080">594</td>
<td></td>
</tr>
<tr>
<td id="t6415805_4_9_4500">Research and  development</td>
<td></td>
<td></td>
<td id="t6415805_4_9_5760">263</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_9_7020">490</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_9_8740">1,092</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_9_10080">2,007</td>
<td></td>
</tr>
<tr>
<td id="t6415805_4_10_4500">Sales and  marketing</td>
<td></td>
<td></td>
<td id="t6415805_4_10_5760">243</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_10_7020">266</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_10_8740">924</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_10_10080">1,189</td>
<td></td>
</tr>
<tr>
<td id="t6415805_4_11_4500">General  and administrative</td>
<td></td>
<td></td>
<td id="t6415805_4_11_5760">200</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_11_7020">239</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_11_8740">765</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_11_10080">902</td>
<td></td>
</tr>
<tr>
<td id="t6415805_4_12_4500">Total stock  based compensation expense</td>
<td></td>
<td></td>
<td id="t6415805_4_12_5760">834</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_12_7020">1,137</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_12_8740">3,290</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_12_10080">4,692</td>
<td></td>
</tr>
<tr>
<td id="t6415805_4_13_4500">Asset  impairment charge:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_4_14_4500">Operating  expense</td>
<td></td>
<td></td>
<td id="t6415805_4_14_5760">&#8211;</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_14_7020">24,209</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_14_8740">1,076</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_14_10080">24,209</td>
<td></td>
</tr>
<tr>
<td id="t6415805_4_15_4500">Amortization of  purchased intangible assets</td>
<td></td>
<td></td>
<td id="t6415805_4_15_5760">&#8211;</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_15_7020">204</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_15_8740">&#8211;</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_15_10080">1,183</td>
<td></td>
</tr>
<tr>
<td id="t6415805_4_16_4500">Restructuring  and other asset impairments:</td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_4_17_4500">Operating expense</td>
<td></td>
<td></td>
<td id="t6415805_4_17_5760">(25</td>
<td id="t6415805_4_17_5800">)</td>
<td></td>
<td></td>
<td id="t6415805_4_17_7020">2,783</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_17_8740">5,625</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_17_10080">3,600</td>
<td></td>
</tr>
<tr>
<td id="t6415805_4_18_4500">Cost  of revenue</td>
<td></td>
<td></td>
<td id="t6415805_4_18_5760">&#8211;</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_18_7020">70</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_18_8740">59</td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_18_10080">386</td>
<td></td>
</tr>
<tr>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td></td>
<td></td>
<td></td>
<td colspan="3"></td>
<td></td>
<td colspan="3"></td>
</tr>
<tr>
<td id="t6415805_4_20_4500">Non-GAAP  net income (loss)</td>
<td></td>
<td id="t6415805_4_20_5445">$</td>
<td id="t6415805_4_20_5760">1,330</td>
<td></td>
<td></td>
<td id="t6415805_4_20_6430">$</td>
<td id="t6415805_4_20_7020">(6,527</td>
<td id="t6415805_4_20_7290">)</td>
<td></td>
<td></td>
<td></td>
<td></td>
<td id="t6415805_4_20_8150">$</td>
<td id="t6415805_4_20_8740">(4,755</td>
<td id="t6415805_4_20_8780">)</td>
<td></td>
<td id="t6415805_4_20_9450">$</td>
<td id="t6415805_4_20_10080">(19,502</td>
<td id="t6415805_4_20_11080">)</td>
</tr>
</tbody>
</table>
]]></content:encoded>
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		<title>Orexigen® Therapeutics (OREX) and Takeda Enter Into Partnership to Commercialize Contrave® in North America</title>
		<link>http://traderpower.com/orexigen%c2%ae-therapeutics-orex-and-takeda-enter-into-partnership-to-commercialize-contrave%c2%ae-in-north-america/</link>
		<comments>http://traderpower.com/orexigen%c2%ae-therapeutics-orex-and-takeda-enter-into-partnership-to-commercialize-contrave%c2%ae-in-north-america/#comments</comments>
		<pubDate>Thu, 02 Sep 2010 19:26:35 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://traderpower.com/?p=3473</guid>
		<description><![CDATA[SAN DIEGO and OSAKA, Japan, Sept. 2 /PRNewswire-FirstCall/ &#8212; Orexigen®  Therapeutics, Inc. (Nasdaq: OREX) and Takeda Pharmaceutical Company Limited  (TSE: 4502), today announced that they have entered into an exclusive  partnership to develop and commercialize Contrave® (naltrexone SR/bupropion SR),  Orexigen&#8217;s investigational drug for the treatment of obesity, in the United  [...]]]></description>
			<content:encoded><![CDATA[<p>SAN DIEGO and OSAKA, Japan, Sept. 2 /PRNewswire-FirstCall/ &#8212; Orexigen®  Therapeutics, Inc. (Nasdaq: OREX) and Takeda Pharmaceutical Company Limited  (TSE: 4502), today announced that they have entered into an exclusive  partnership to develop and commercialize Contrave® (naltrexone SR/bupropion SR),  Orexigen&#8217;s investigational drug for the treatment of obesity, in the United  States, Canada and Mexico.</p>
<p>Contrave is a combination therapy believed to address both biological and  behavioral drivers of obesity. The central pathways targeted by this treatment  are involved in controlling the balance of food intake and metabolism, and  regulating reward-based eating behavior.  Orexigen submitted a New Drug  Application (NDA) to the U.S. Food and Drug Administration (FDA) for Contrave on  March 31, 2010 and the Prescription Drug User Fee Act (PDUFA) action date has  been set for January 31, 2011.</p>
<p>Under the terms of the agreement, Orexigen will receive an upfront cash  payment of $50 million from Takeda, and Takeda will obtain an exclusive  marketing right from Orexigen in the United States, Mexico and Canada while  Orexigen retains the right to co-promote with Takeda in the United States.  Orexigen will be eligible to receive payments of over $1 billion upon achieving  certain regulatory and sales-based milestones. Assuming Contrave is  commercialized, Takeda will pay tiered double-digit royalty payments on net  sales in the Territory.</p>
<p>Under the terms of the agreement, Orexigen and Takeda will work together on  ongoing development of the product, with Orexigen leading pre-approval  activities, and Takeda leading post-approval activities.  The parties will share  in the costs of any future development of the product.</p>
<p>&#8220;Takeda is an ideal partner for Contrave given its proven track record in  commercializing innovative medicines and its commitment to the treatment of  obesity,&#8221; said Michael Narachi, President and CEO of Orexigen. &#8220;We believe this  is a great strategic partnership to enable our goal of a strong market entry for  Contrave, if approved. It has been our belief that getting a partner involved  early would be critical to a high-quality launch of Contrave, and with this  partnership now in place, we are tightly focused on the regulatory review  process and securing approval for Contrave.&#8221;</p>
<p>&#8220;Contrave represents an important addition to Takeda&#8217;s cardiovascular and  metabolic disease franchise and we look forward to partnering with Orexigen,&#8221;  said Shinji Honda, President and CEO of Takeda Pharmaceuticals North America,  Inc., a wholly-owned subsidiary of Takeda that has commercial responsibility for  the Americas. &#8220;Takeda has deep experience in providing important medicines to  treat chronic disease and Contrave will help us provide a full spectrum of  treatment to patients for the management of obesity.&#8221;</p>
<p>Approximately 75 million Americans suffer from obesity and that number is  expected to rise to 103 million by 2018. Obesity is a chronic condition linked  to serious medical consequences including type 2 diabetes, cardiovascular  disease, cancer and depression. Despite increasing public health concerns  regarding obesity, two-thirds of the U.S. adult population is overweight or  obese. Although weight loss of 5-10 percent may improve overall health,  including blood sugar control, high blood pressure, high cholesterol, and  overall quality of life, many individuals are not able to lose weight or  maintain weight loss with diet and exercise alone.</p>
<p><strong>Conference Call Today at 8:00 a.m. Eastern Time (5:00 a.m. Pacific  Time)</strong></p>
<p>The Orexigen management team will host a teleconference and webcast to  discuss the partnership.  The live call may be accessed by phone by calling  (866) 314-5232 (domestic) or (617) 213-8052 (international), participant code  19096068.  The webcast can be accessed live on the investor relations section of  the Orexigen web site at http://www.orexigen.com, and will be archived for 14  days following the call.</p>
<p><strong>About Contrave</strong></p>
<p>Contrave is an investigational combination therapy believed to address both  biological and behavioral drivers of obesity. The two components of this  combination therapy act in a complementary manner in the central nervous system.  The central pathways targeted by this treatment are involved in controlling the  balance of food intake and metabolism, and regulating reward-based eating  behavior. In clinical trials, Contrave was shown to help obese patients initiate  and sustain significant weight loss, improve important markers of  cardiometabolic risk and increase ability to control eating.</p>
<p><strong>About Orexigen Therapeutics</strong></p>
<p>Orexigen Therapeutics, Inc. is a biopharmaceutical company focused on the  treatment of obesity. The Company has filed an NDA with the FDA for its lead  investigational product, Contrave®. The Company&#8217;s second product, Empatic™, has  completed Phase 2 clinical development. Each product candidate is designed to  act on a specific group of neurons in the central nervous system with the goal  of achieving appetite suppression and sustained weight loss, through combination  therapeutic approaches. Further information about the Company can be found at  www.orexigen.com.</p>
<p><strong>About </strong><strong>Takeda </strong><strong>Pharmaceutical Company Limited</strong></p>
<p>Located in Osaka, Japan, Takeda is a research-based global company with its  main focus on pharmaceuticals. As the largest pharmaceutical company in Japan  and one of the global leaders of the industry, Takeda is committed to strive  towards better health for patients worldwide through leading innovation in  medicine. Additional information about Takeda is available through its corporate  website, www.takeda.com.</p>
<p><strong>About </strong><strong>Takeda Pharmaceuticals North America, Inc. and Takeda Global  Research &amp; Development Center, Inc.</strong></p>
<p>Based in Deerfield, Ill., Takeda Pharmaceuticals North America, Inc. and  Takeda Global Research &amp; Development Center, Inc. are subsidiaries of Takeda  Pharmaceutical Company Limited, the largest pharmaceutical company in Japan. The  respective companies currently market oral diabetes, insomnia, rheumatology and  gastroenterology treatments and seek to bring innovative products to patients  through a pipeline that includes compounds in development for diabetes,  cardiovascular disease, gastroenterology, neurology and other conditions. To  learn more about these Takeda companies, visit www.tpna.com.</p>
<p><strong>Forward-Looking Statements </strong><strong>Related to </strong><strong>Orexigen</strong></p>
<p>Orexigen cautions you that statements included in this press release that are  not a description of historical facts are forward-looking statements. Words such  as &#8220;believes,&#8221; &#8220;anticipates,&#8221; &#8220;plans,&#8221; &#8220;expects,&#8221; &#8220;indicates,&#8221; &#8220;will,&#8221;  &#8220;intends,&#8221; &#8220;potential,&#8221; &#8220;suggests,&#8221; &#8220;assuming,&#8221; &#8220;designed&#8221; and similar  expressions are intended to identify forward-looking statements. These  statements are based on the Company&#8217;s current beliefs and expectations. These  forward-looking statements include statements regarding the potential for, and  timing of, approval for Contrave, the Company&#8217;s belief that this product  candidate may be an important therapeutic option in the treatment of obesity,  the potential milestone and royalty payments under the agreement with Takeda and  the potential strength of our market entry with Contrave, if approved. The  inclusion of forward-looking statements should not be regarded as a  representation by Orexigen that any of its plans will be achieved. Actual  results may differ from those set forth in this release due to the risk and  uncertainties inherent in the Orexigen business, including, without limitation:  Orexigen&#8217;s dependence on Takeda for aspects of the development and  commercialization of Contrave; the potential for the FDA to delay the scheduled  PDUFA action date of January 31, 2011 due to the FDA&#8217;s internal resource  constraints or other reasons; the uncertainty of the FDA approval process and  other regulatory requirements; the FDA may not agree with the Company&#8217;s  interpretation of efficacy and safety results; the FDA may require Orexigen to  complete additional clinical, non-clinical or other requirements prior to the  approval of the Contrave NDA; the therapeutic and commercial value of Contrave;  reliance on third parties to assist with the development of Contrave and the  regulatory submissions related thereto; the potential for adverse safety  findings relating to Contrave; and other risks described in the Company&#8217;s  filings with the Securities and Exchange Commission. You are cautioned not to  place undue reliance on these forward-looking statements, which speak only as of  the date hereof, and Orexigen undertakes no obligation to revise or update this  news release to reflect events or circumstances after the date hereof. Further  information regarding these and other risks is included under the heading &#8220;Risk  Factors&#8221; in Orexigen&#8217;s Quarterly Report on Form 10-Q, which was filed with the  Securities Exchange Commission on August 6, 2010 and is available from the SEC&#8217;s  website (www.sec.gov) and on our website (www.orexigen.com) under the heading  &#8220;Investor Relations&#8221;. All forward-looking statements are qualified in their  entirety by this cautionary statement. This caution is made under the safe  harbor provisions of Section 21E of the Private Securities Litigation Reform Act  of 1995.</p>
<p><strong>Forward-Looking Statements</strong><strong> </strong><strong>Related to Takeda</strong></p>
<p>This press release contains forward-looking statements regarding the  Company&#8217;s plans, outlook, strategies, and results for the future.  All  forward-looking statements are based on judgments derived from the information  available to the Company at this time.  Forward looking statements can sometimes  be identified by the use of forward-looking words such as &#8220;may,&#8221; &#8220;believe,&#8221;  &#8220;will,&#8221; &#8220;expect,&#8221; &#8220;project,&#8221; &#8220;estimate,&#8221; &#8220;should,&#8221; &#8220;anticipate,&#8221; &#8220;plan,&#8221;  &#8220;continue,&#8221; &#8220;seek,&#8221; &#8220;pro forma,&#8221; &#8220;potential,&#8221; &#8220;target, &#8221; &#8220;forecast,&#8221; or &#8220;intend&#8221;  or other similar words or expressions of the negative thereof.  Certain risks  and uncertainties could cause the Company&#8217;s actual results to differ materially  from any forward looking statements contained in this press release. These risks  and uncertainties include, but are not limited to, (1) the economic  circumstances surrounding the Company&#8217;s business, including general economic  conditions in the US and worldwide; (2) competitive pressures; (3) applicable  laws and regulations; (4) the success or failure of product development  programs; (5) decisions of regulatory authorities and the timing thereof; (6)  changes in exchange rates; (7) claims or concerns regarding the safety or  efficacy of marketed products or product candidates; and (8) integration  activities with acquired companies.</p>
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		<title>PostRock (PSTR) Announces $60 Million Investment by White Deer Energy</title>
		<link>http://traderpower.com/postrock-pstr-announces-60-million-investment-by-white-deer-energy/</link>
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		<pubDate>Thu, 02 Sep 2010 19:26:08 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://traderpower.com/?p=3471</guid>
		<description><![CDATA[OKLAHOMA CITY, Sept. 2, 2010 (GLOBE NEWSWIRE) &#8212; PostRock Energy  Corporation (Nasdaq:PSTR) (&#8221;PostRock or the &#8220;Company&#8221;) today announced  that White Deer Energy L.P. (&#8221;White Deer&#8221;) has agreed to invest $60 million of  equity in the Company. White Deer is a recently formed energy private equity  firm. In connection with the investment, PostRock&#8217;s [...]]]></description>
			<content:encoded><![CDATA[<p>OKLAHOMA CITY, Sept. 2, 2010 (GLOBE NEWSWIRE) &#8212; <strong>PostRock Energy  Corporation </strong>(Nasdaq:PSTR) (&#8221;PostRock or the &#8220;Company&#8221;) today announced  that White Deer Energy L.P. (&#8221;White Deer&#8221;) has agreed to invest $60 million of  equity in the Company. White Deer is a recently formed energy private equity  firm. In connection with the investment, PostRock&#8217;s debt will be reduced and its  credit agreements restructured.</p>
<p>White Deer will purchase $60 million of the Company&#8217;s 12% cumulative  redeemable preferred stock. The preferred stock has a 7 ½ year term and is  callable after one year at par plus 10%. The Company has the option to pay the  preferred dividends in cash or in kind until July 2013. In addition, White Deer  will receive 7 ½ year warrants to purchase $60 million of common stock. The  exercise price of the warrants was set at $3.15 per share, which represents an  approximate 5% premium to PostRock&#8217;s closing stock price on September 1,  2010.</p>
<p>PostRock will use the proceeds to reduce debt and fund future growth. The  investment and the debt restructuring are expected to close simultaneously in  approximately three weeks, subject to the satisfaction or waiver of various  closing conditions. As part of the transaction, White Deer has reserved an  additional $30 million to invest in PostRock on mutually acceptable terms to  fund future growth.</p>
<p>White Deer will be entitled to vote with the common stock on all matters  based on its pro forma interest in the Company giving effect to the exercise of  its warrants. However, it has agreed to limit its vote to 45% for a period of  time. White Deer will designate Thomas J. Edelman, James D. Bennett and Nathan  M. Avery as directors, expanding the Board to twelve. NASDAQ granted the Company  a financial viability exception from the requirement to obtain shareholder  approval of the transaction. PostRock&#8217;s Audit Committee approved the exemption  request and the Board obtained a fairness opinion on the transaction.</p>
<p>After the transaction, the Company&#8217;s debt will be comprised of approximately  $200 million drawn against $225 million of current availability under a  revolving credit facility, a $15 million amortizing term loan secured by the KPC  Pipeline and a $43.5 million loan secured solely by certain Appalachian assets  and non-recourse to PostRock.   Robert W. Baird &amp; Co. has been retained to  sell those Appalachian assets.   The revolver will mature June 30, 2013 and bear  interest at LIBOR + 3.5% to 4.0%, depending on utilization. The pipeline loan  will amortize over 18 months and bear interest at LIBOR + 3.75%. The  non-recourse loan will mature June 30, 2013 and bear interest at LIBOR +  4.0%.</p>
<p>Commenting, David C. Lawler, the Company&#8217;s President and CEO, said, &#8220;We are  delighted with White Deer&#8217;s pending investment and our debt restructuring. The  transaction represents the conclusion of a two-year effort to restructure and  recapitalize the Company. During this challenging period, we reduced operating  costs, kept our capital projects on budget and maintained a strong production  base. We have now partnered with a world class team of investors whose capital  enables us to materially improve our financial position. We want to thank our  banks for their support throughout this effort. White Deer&#8217;s principals have a  long and impressive track record in guiding the profitable growth of independent  oil and gas companies. With their support, we can now begin to aggressively  pursue long-term growth opportunities and the creation of meaningful shareholder  value. Specifically, we will seek to become the most efficient producer in our  focus area and then start to pursue acquisitions.&#8221;</p>
<p>Thomas J. Edelman, Managing Partner of White Deer, said, &#8220;We are very pleased  with this investment and to be associated with PostRock and its management  team. David Lawler has done an exceptional job in preserving shareholder value  and providing leadership under extraordinarily difficult circumstances. We look  forward to working closely with him, his officers and the Board. Given the  Company&#8217;s strategic position in the Cherokee Basin and its ability to focus on  becoming a low cost and profitable producer, we have every confidence that our  investment, and that of all PostRock shareholders, will have the opportunity to  provide exceptional returns.&#8221;</p>
<p>PostRock Energy Corporation is engaged in the acquisition, exploration,  development, production and transportation of oil and natural gas primarily in  the Cherokee Basin of Kansas and Oklahoma. The Company owns and operates over  2,800 wells and nearly 2,200 miles of gas gathering lines in the Basin. In  addition, it owns 1,100 miles of interstate gas pipelines in Oklahoma, Kansas  and Missouri.</p>
<p>The PostRock Energy Corp. logo is available at  http://www.globenewswire.com/newsroom/prs/?pkgid=7221</p>
<p>White Deer Energy is an energy private equity fund focused on the exploration  &amp; production, oilfield service and equipment and midstream sectors of the  oil and gas industry. With $821 million of capital commitments, the Fund is a  long-term investor targeting equity investments of $50 to $120 million in 8 to  10 portfolio companies. With offices in Houston and New York, White Deer has a  combination of industry expertise and capital that makes it an exceptionally  attractive partner for rapidly growing North American energy companies.</p>
<p>Opinions, forecasts, projections or statements, other than statements of  historical fact, are forward-looking statements that involve risks and  uncertainties. Forward-looking statements in this announcement are made pursuant  to the safe harbor provisions of the Private Securities Litigation Reform Act of  1995. Although PostRock believes that the expectations reflected in such  forward-looking statements are reasonable, it can give no assurance that such  expectations will prove to be correct. Actual results may differ materially due  to a variety of factors, some of which may not be foreseen by PostRock. These  risks and other risks are detailed in PostRock&#8217;s filings with the Securities and  Exchange Commission, including risk factors listed in PostRock&#8217;s Annual Report  on Form 10-K and other filings with the SEC. You can find PostRock&#8217;s filings  with the SEC at www.pstr.com or www.sec.gov. By making these forward-looking  statements, PostRock undertakes no obligation to update these statements for  revisions or changes after the date of this release.</p>
<pre id="pre">CONTACT:  PostRock Energy Corporation</pre>
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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>
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		<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>
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		<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>
			<wfw:commentRss>http://traderpower.com/jos-a-bank-clothiers-josb-reports-32-increase-in-profits-for-second-quarter-of-fiscal-year-2010/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<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>
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		<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>
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		<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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