Archive for January, 2011
WARREN, NJ — (Marketwire) — 01/14/11 — ANADIGICS, Inc. (NASDAQ: ANAD), a leading provider of semiconductor solutions in the rapidly growing broadband wireless and wireline communications space, today announced that it has been chosen by the NASDAQ Stock Market to join its Global Select Market for companies satisfying the highest financial and liquidity qualifications. Established in 2006, the NASDAQ Global Select Market was created as a separate market classification to drive greater recognition for world-class NASDAQ-listed companies that demonstrate a commitment to high standards and good governance.
“We are honored to receive this prestigious distinction from the NASDAQ Stock Market,” said Mario Rivas, President and CEO. “Our company takes great pride in striving for excellence in all aspects of our business. So receiving this kind of recognition as one of NASDAQ’s top companies is a tremendous point of validation for our efforts.”
According to NASDAQ, qualifying for the Global Select Market is a mark of achievement, leadership and stature for the companies that are included, while also demonstrating a message of high standards to investors. ANADIGICS has been a publicly traded company on the NASDAQ Stock Market since 1995.
“We have enjoyed a long-term, highly successful affiliation with the NASDAQ Stock Market and we’re excited about this next phase of our relationship as one of the elite Global Select members of the market,” said Thomas Shields, Chief Financial Officer.
This recognition is another highlight from a highly successful 2010 for ANADIGICS. Through its most recent quarter, ended October 2, 2010, net sales for the company totaled $156.5 million, up approximately 58.6 percent over the prior year. Looking ahead into 2011, ANADIGICS looks forward to building on its success with its new product design portfolio for 3G, 4G / LTE and Multi Mode Multi Band technologies, along with new design engagements with chipset providers and Tier I OEMs.
For more information on ANADIGICS products and multimedia content, please refer to the following resources:
- ANADIGICS Facebook: http://www.facebook.com/anadigics
- ANADIGICS Photos: http://www.flickr.com/anadigics
- ANADIGICS Twitter: http://www.twitter.com/anadigics
- ANADIGICS Video: http://www.youtube.com/anadigics
About ANADIGICS, Inc.
ANADIGICS, Inc. (NASDAQ: ANAD) delivers integrated radio frequency (RF) solutions that OEMs and ODMs demand to optimize the performance of wireless, broadband and cable applications across all major networks and standards. ANADIGICS features a diverse portfolio of highly linear, highly efficient RFICs. Headquartered in Warren, NJ, the company’s award-winning products include power amplifiers, tuner integrated circuits, active splitters, line amplifiers and other components that can be purchased individually or packaged as integrated RF and front-end modules. For more information, visit www.anadigics.com.
Media Relations
Vivian Chang
ANADIGICS, Inc.
Tel: +886 935 315 393
E-mail: Email Contact
Investor Relations
Thomas Shields
ANADIGICS, Inc.
Tel: +1 908 412 5995
E-mail: Email Contact
Text100 PR Agency Contact
Kevin Doak
Text 100 Public Relations
Tel: +1 617 399 4931
Email: Email Contact
SANTA ANA, Calif., Jan. 14, 2011 /PRNewswire/ — Corinthian Colleges, Inc. (Nasdaq: COCO) will report financial results for the first quarter ended December 31, 2010, on February 1 prior to market open. The company will host a conference call at 12:00 p.m. ET (9:00 a.m. PT) on Tuesday, February 1 to review its performance and outlook.
The conference call will be open to all interested investors through a live audio webcast via the internet at www.cci.edu (Investor Relations/Webcasts & Presentations) and www.streetevents.com. The call will be archived on www.cci.edu. A telephonic playback of the conference call will also be available through 5:00 p.m. EST, Tuesday, February 8th. The playback can be reached by dialing (888) 286-8010 (domestic) or (617) 801-6888 (international) and entering passcode 56538849.
About Corinthian Colleges, Inc.
Corinthian is one of the largest post-secondary education companies in North America. Our mission is to change students’ lives. We offer diploma and degree programs that prepare students for careers in demand or for advancement in their chosen fields. Our program areas include health care, business, criminal justice, transportation technology and maintenance, construction trades and information technology. We have 122 Everest, Heald and WyoTech campuses, and also offer a variety of degrees online. For more information, go to http://www.cci.edu/.
Contacts:
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Anna Marie Dunlap
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SVP, Investor Relations
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(714) 424-2678
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Media:
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Kent Jenkins
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VP, Public Affairs Communications
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(202) 682-9494
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MILWAUKEE, WI — (Marketwire) — 01/13/11 — ZBB Energy Corporation (NYSE Amex: ZBB), the leading developer of intelligent, renewable energy power platforms, today announced the successful factory testing and delivery of their ZESS POWR™ PECC and ZESS 50 advanced energy power and storage solutions to the energy lab at UWM’s College of Engineering & Applied Science. UWM recently awarded ZBB a competitive bid contract to supply cutting-edge technology for use by a multi-university team of researchers conducting renewable energy studies for the Wisconsin Energy Research Consortium (WERC). The successful factory testing, delivery and acceptance by UWM allows ZBB to recognize the revenue for this contract in fiscal Q2 2011.
The WERC research project will utilize ZBB technology in a two-phase effort. The first phase of the project will study individual wind turbines. These results will be applied in a phase two study to remodel an entire wind farm system to improve reliability and put wind farms on equal footing with conventional fuel sources, such as coal and gas fueled power plants. “ZBB is a proud member of WERC and we have no doubt that with members like Johnson Controls and Eaton, this consortium will push the industry forward. We are very happy UWM selected our equipment for the effort,” said Eric Apfelbach, CEO of ZBB Energy.
The ZESS POWR™ PECC is a hybrid power system that converts any combination of wind, solar, hydro or other generating sources to independently optimize the control of each generating source while providing a ‘steady-state’ power output to the electrical loads or directly to the grid.
The ZESS 50 technology is a Zinc Bromide flow battery designed to serve as an advanced electrical energy storage device, and is constructed from environmentally-friendly materials that provide for long service life and advanced performance when compared with traditional chemical batteries.
ZBB serves a variety of global markets, including utility, government, commercial, industrial and residential customers. ZBB also provides its technology to the U.S. Department of Defense through its various relationships with major defense contractors. The company has a 75,000 square foot manufacturing facility in Menomonee Falls, as well as research and development offices in Perth, Australia.
About ZBB Energy Corporation
ZBB Energy Corporation (NYSE Amex: ZBB) provides distributed intelligent power management platforms that directly integrate multiple renewable and conventional onsite generation sources with rechargeable zinc bromide flow batteries and other storage technology. This platform solves a wide range of electrical system challenges in global markets for various types of sites with utility, governmental, commercial, industrial and residential end customers. A developer and manufacturer of its modular, scalable and environmentally friendly power systems (“ZESS POWR™”), ZBB Energy was founded in 1998 and is headquartered in Wisconsin with offices also located in Perth, Western Australia.
Safe Harbor Statement
Certain statements made in this press contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other comparable terms. Forward-looking statements in this press release may address the following subjects among others: statements regarding the sufficiency of our capital resources, expected operating losses, expected revenues, expected expenses and our expectations concerning our business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports of Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Contact Information:
Helen Brown
Investor Relations
ZBB Energy Corporation
T: 262.253.9800
Email: Email Contact
Jan. 13, 2011 (Business Wire) — China MediaExpress Holdings, Inc. (NASDAQ GS: CCME) (“CME” or “Company”), China’s largest television advertising operator on inter-city and airport express buses, today announced that it has signed three new long-term agreements, adding a total of 774 express buses to its network. Specifically, CME signed the following contracts:
- A long-term framework agreement with a media company to purchase exclusive rights to supply entertainment programming along with paid advertising on 623 inter-city express buses originating from the Henan province, for a period of five years and commenced on January 1, 2011. As per the framework agreement, CME will pay the media company a one-time fee for the acquisition of the operating rights in addition to a fixed monthly concession fee to the bus operator over the term of the contract with an annual increment of 15%.
- A framework agreement with a media company to purchase exclusive rights to supply entertainment programming along with paid advertising on 101 airport express buses originating from the Chengdu Shuangliu International Airport in the Sichuan Province. CME’s contract is for a period of four years and commenced January 1, 2011. According to the framework agreement, CME will pay the media company a one-time fee for the acquisition of the operating rights in addition to a fixed monthly concession fee over the term of the contract with an annual increment of 10%-30%.
- The third agreement was with another media company to purchase exclusive rights to supply entertainment programming along with paid advertising on 50 airport express buses originating from the Shijiazhuang Zhengding International Airport in the Hebei province. CME’s contract is for a period of three years and commenced January 1, 2011. According to the framework agreement, CME will pay the media company a one-time fee for the acquisition of the operating rights in addition to a fixed monthly concession fee over the term of the contract with an annual increment of 15%.
CME’s founder & CEO, Zheng Cheng added, “These new contracts have further expanded our airport express bus network which now includes eight of China’s largest airports in terms of passengers. In 2009, Chengdu Shuangliu International Airport was the busiest airport in Western China and the 6th busiest airport nationwide in terms of passenger traffic. The Shijiazhuang Zhengding International Airport is Hebei’s largest airport servicing 2.6 million passengers in 2010. Because of its proximity to Beijing, the airport was expanded before the 2008 Olympic Games and now serves as an alternate airport to the Beijing Capital International Airport. In addition, for the inter-city bus market, we have increased our presence in the province of Henan. We entered the province in September 2010 with an agreement for 986 inter-city buses. With this agreement and one in November for 635 inter-city buses, our network in Henan province encompasses more than 2,200 inter-city buses.”
About CME
CME, through contractual arrangements with Fujian Fenzhong, an entity majority owned by CME’s former majority shareholder, operates the largest television advertising network on inter-city and airport express buses in China. While CME has no direct equity ownership in Fujian Fenzhong, through the contractual agreements CME receives the economic benefits of Fujian Fenzhong’s operations. Fujian Fenzhong generates revenue by selling advertisements on its network of television displays installed on over 27,200 express buses originating in eighteen of China’s most prosperous regions, including the four municipalities of Beijing, Shanghai, Tianjin and Chongqing and fourteen economically prosperous regions, namely Guangdong, Jiangsu, Jiangxi, Fujian, Sichuan, Hebei, Anhui, Hubei, Shandong, Shanxi, Inner Mongolia, Zhejiang, Hunan and Henan.
CME is included in the Russell Global Index. For more information visit: www.ccme.tv.

China MediaExpress
Investor Relations Department
ir@ccme.tv
or
The Equity Group Inc.
Lena Cati, 212-836-9611
lcati@equityny.com
or
Linda Latman, 212-836-9609
llatman@equityny.com
SANTA ANA, Calif., Jan. 13, 2011 (GLOBE NEWSWIRE) — TTM Technologies, Inc. (Nasdaq:TTMI), a major global printed circuit board (PCB) manufacturer, today updated its fourth quarter 2010 guidance.
As a result of greater demand for its high technology products, and based on preliminary, unaudited results, TTM now expects fourth quarter 2010 revenue to be in the range of $375 million to $378 million, up from the previously announced range of $351 million to $367 million. GAAP earnings attributable to stockholders are now expected to be between $0.38 and $0.43 per diluted share, up from the previously announced range of $0.28 to $0.35 per diluted share. Non-GAAP earnings attributable to stockholders are now expected to be between $0.45 and $0.50, up from the previously announced range of $0.35 to $0.42 per diluted share.
Fourth Quarter and Fiscal Year 2010 Earnings Call Information
The Company will host a conference call and webcast to discuss the fourth quarter and fiscal year 2010 results on February 10, 2011, at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time).
Telephone access will be available by dialing 800-762-8795 or 480-248-5081. The conference call also will be simulcast on the company’s website at www.ttmtech.com and will remain accessible for one week following the live event.
About TTM
TTM Technologies, Inc. is a major global printed circuit board manufacturer, focusing on quick-turn and technologically advanced PCBs and the backplane and sub-system assembly business. TTM stands for time-to-market, representing how the company’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. Additional information can be found at www.ttmtech.com.
The TTM Technologies logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5691
About Our Non-GAAP Financial Measures
This release includes information about the Company’s non-GAAP earnings per share attributable to stockholders, which is a non-GAAP financial measure. Management believes that this measure — which adds back amortization of intangibles, stock-based compensation expense, non-cash interest expense on debt, asset impairment and restructuring charges, inventory adjustments, costs related to the Meadville Holdings transaction and miscellaneous closing costs as well as the associated tax impact of these charges — provides additional useful information to investors regarding the Company’s ongoing financial condition and results of operations.
A material limitation associated with the use of the above non-GAAP financial measure is that it has no standardized measurement prescribed by GAAP and may not be comparable with similar non-GAAP financial measures used by other companies. The Company compensates for these limitations by providing full disclosure of each non-GAAP financial measure and reconciliation to the most directly comparable GAAP financial measure. However, the non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.
Safe Harbor Statement
This release contains forward-looking statements that relate to future events or performance. These statements reflect the company’s current expectations, and the company does not undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other company statements will not be realized. Furthermore, readers are cautioned that these statements involve risks and uncertainties, many of which are beyond the company’s control, which could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties include, but are not limited to, the company’s dependence upon the electronics industry, the impact of the current economic crisis, the company’s dependence upon a small number of customers, the unpredictability of and potential fluctuation in future revenues and operating results, increased competition from low-cost foreign manufacturers and other “Risk Factors” set forth in the company’s most recent SEC filings.
CONTACT: Steve Richards, CFO
714-327-3000
DEERFIELD BEACH, FL–(Marketwire – 01/12/11) – China Direct Industries, Inc. (“China Direct Industries”) (NASDAQ:CDII – News), a U.S. owned holding company operating in China in two core business segments, pure magnesium production and distribution of basic materials, announced today that its magnesium segment operations received new purchase contracts valued at approximately $31 million in its first quarter of fiscal 2011, ended December 31, 2010. Deliveries of these new orders began in the first quarter of fiscal 2011 and are expected to be completed by the third quarter of fiscal 2011.
The $31 million in new contracts consisted of direct purchases from new and existing customers including three major Fortune 500 companies. Additionally, the efforts of our direct marketing company International Magnesium Group or “IMG” and its branding efforts made a significant contribution to these contracts. Management sees these new contract wins as continuing evidence of an improving overall demand for its magnesium products and recognition of its branding initiative.
Commenting on the contracts, Dr. James Wang, Chairman and CEO of China Direct Industries, Inc., stated, “We are excited to see a continued improvement in our magnesium sales as evidenced by these new contracts. We are particularly pleased to have signed supply contracts with Fortune 500 customers directly through our IMG marketing efforts as we continue to build our IMG brand as the source for reliable supplies of magnesium. We are confident that the magnesium industry will continue to recover and we intend to build on this momentum throughout fiscal 2011.”
About China Direct Industries, Inc.
China Direct Industries, Inc. (NASDAQ:CDII – News) is a U.S. owned holding company operating in China in two core business segments, pure magnesium production and distribution and distribution of basic materials in China. China Direct Industries also provides advisory services to China based companies in competing in the global economy. Headquartered in Deerfield Beach, Florida, China Direct Industries operates 9 subsidiaries throughout China. This infrastructure creates a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets. For more information about China Direct Industries, please visit http://www.cdii.net.
DISCLOSURE NOTICE:
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, China Direct Industries, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning demand for our magnesium products, the recognition of our IMG branding initiative, the expected delivery dates for the magnesium and the recovery of the magnesium industry.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Report on Form 10-K for the fiscal year ended September 30, 2010.
MILWAUKEE, WI — (Marketwire) — 01/11/11 — ZBB Energy Corporation (NYSE Amex: ZBB) (the “Company”) today announced that it received approval from the NYSE Amex (the “Exchange”) for listing of the shares in connection with the previously reported Stock Purchase Agreements with certain investors providing for the sale of a total of $2 million of the Company’s common stock, including $200,000 of these shares that are being purchased by members of the Company’s board of directors. The Company announced that the financing is scheduled to close January 12, 2011.
About ZBB Energy Corporation
ZBB Energy Corporation (NYSE Amex: ZBB) provides distributed intelligent power management platforms that directly integrate multiple renewable and conventional onsite generation sources with rechargeable zinc bromide flow batteries and other storage technology. This platform solves a wide range of electrical system challenges in global markets for various types of sites with utility, governmental, commercial, industrial and residential end customers. A developer and manufacturer of its modular, scalable and environmentally friendly power systems (“ZESS POWR™”), ZBB Energy was founded in 1998 and is headquartered in Wisconsin with offices also located in Perth, Western Australia.
Safe Harbor Statement
Certain statements made in this press contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other comparable terms. Forward-looking statements in this press release may address the following subjects among others: statements regarding the sufficiency of our capital resources, expected operating losses, expected revenues, expected expenses and our expectations concerning our business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports of Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Contact Information:
Helen Brown
Investor Relations
ZBB Energy Corporation
T: 262.253.9800
Email: Email Contact
Jan. 12, 2011 (Business Wire) — Active Power (NASDAQ: ACPW) will deploy its PowerHouse system, a continuous critical infrastructure solution onsite for the 2011 Nordic World Ski Championships, being held February 23 through March 6, 2011, in Holmenkollen, Norway. The 40 foot, 400 kW containerised power infrastructure system will provide complete power conditioning and protection for the event’s international broadcast centre (IBC). The system will be integrated and tested at Active Power’s facility in Evesham, England, and then delivered to the customer site in January 2011.
“The local government of Oslo required a complete turnkey power solution that could condition utility power to the IBC, but also supply longer term power in the instance of a mains failure,” said Jon Vidar Berg, sales engineer, Energyst CAT Rental Power, Norway, who served as the contractor on the project.
“Just as important though, winters in Oslo can be extremely cold so we needed rugged power infrastructure equipment that could withstand temperatures as low as minus 25 degrees Celsius. In these conditions, conventional UPS (uninterruptible power supply) technology would require a heated enclosure. Active Power’s PowerHouse system, with its flywheel UPS, is flexible enough to operate under these conditions.”
With more than 300,000 spectators expected to attend and millions more to watch on television and via the Internet, the 2011 Nordic World Ski Championships is one of the most popular winter games event in Scandinavia. The event will hold more than 20 cross country, Nordic combined and ski jumping events in Holmenkollen. Due to the increased media attention at the games, the IBC will manage all communications and broadcast feeds to television and online networks across Scandinavia.
“Our PowerHouse system is a perfect fit for this particular application in Oslo,” said Jim Clishem, president and CEO at Active Power. “The containerised solution offers all critical physical infrastructure components – high efficiency flywheel UPS, diesel generator, switchgear and monitoring and controls software – in one streamlined package. The solution is made up of manufactured components and is preconfigured and pretested prior to deployment, providing better performance, quick delivery and tangible economic benefits versus other alternatives.”
About Active Power
Active Power (NASDAQ: ACPW) provides efficient, reliable and green critical power solutions and uninterruptible power supply (UPS) systems to enable business continuity in the event of power disturbances. Founded in 1992, Active Power’s flywheel-based UPS systems protect critical operations in data centers, healthcare facilities, manufacturing plants, broadcast stations and governmental agencies in more than 40 countries. With expert power system engineers and worldwide services and support, Active Power ensures organizations have the power to perform. For more information, please visit www.activepower.com.
Cautionary Note Regarding Forward-Looking Statements
This release may contain forward-looking statements that involve risks and uncertainties. Any forward-looking statements and all other statements that may be made in this news release that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. Specific risks include delays in new product development, product performance and quality issues and the acceptance of our current and new products by the power quality market. Please refer to Active Power filings with the Securities and Exchange Commission for more information on the risk factors that could cause actual results to differ.
Active Power, CleanSource and CoolAir are registered trademarks of Active Power, Inc. The Active Power logo and PowerHouse are trademarks of Active Power, Inc. All other trademarks are the properties of their respective companies.

Active Power
Investor Contact:
Liolios Group
Ron Both, 949-574-3860
ron@liolios.com
or
Media Contact:
Lee Higgins, 512-744-9488
Public Relations Manager
lhiggins@activepower.com
Jan. 12, 2011 (Business Wire) — Affymetrix, Inc. (NASDAQ:AFFX) today announced that based on preliminary financial data, the Company expects to generate positive operating income and net income on a GAAP basis for the fourth-quarter of 2010. Total revenue for the fourth quarter is expected to be approximately $85 million and includes a $4.8 million milestone payment from a “Powered by Affymetrix” diagnostic partner.
The Company also announced that it has repurchased an additional $53 million face value of 3.5% convertible notes. The Company repurchased more than $150 million of 3.5% convertible notes in 2010 and now has about $95 million in outstanding convertible debt. The Company expects to have a year-end net cash balance of approximately $140 million.
“We made significant progress in 2010 and we expect to report positive operating income and net income for both the fourth quarter and the second half of 2010,” said Kevin M. King, president and chief executive officer. “These results reflect our disciplined focus on operations which has significantly lowered our break-even point. We exit 2010 in a strong financial position and we are committed to the continued improvement of our business in 2011 and beyond.”
Affymetrix will webcast its presentation at the 29th Annual JP Morgan Healthcare Conference on Thursday, January 13, 2011 at 7:30 a.m. PT. A live webcast will be available at http://www.affymetrix.com under the “Investors” link. The archived webcast will be available for 30 days.
Affymetrix’ management team will host a conference call on February 2, 2011 at 2:00 p.m. PT to review its operating results for the fourth quarter and fiscal year 2010. A live webcast can be accessed by visiting the Investor Relations section of the Company’s website at www.affymetrix.com. In addition, investors and other interested parties can listen by dialing domestic: (877) 407-8291, international: (201) 689-8345.
A replay of this call will be available from 5:00 p.m. PT on February 2, until 8:00 p.m. PT on February 9, 2011 at the following numbers: domestic: (877) 660-6853, international: (201) 612-7415. The passcode for both replays is 364850. An archived webcast of the conference call will be available under the Investor Relations section of the Company’s website.
About Affymetrix
Affymetrix technology is used by the world’s top pharmaceutical, diagnostic, and biotechnology companies, as well as leading academic, government, and nonprofit research institutes. More than 2,000 systems have been shipped around the world and more than 22,000 peer-reviewed papers have been published using the technology.
Affymetrix is headquartered in Santa Clara, Calif., and has manufacturing facilities in Santa Clara, Cleveland, Ohio, and Singapore. The company has about 1,000 employees worldwide and maintains sales and distribution operations across Europe and Asia. For more information about Affymetrix, please visit www.affymetrix.com.
Forward-looking statements
Affymetrix has not filed its Annual Report Form 10-K for the year ended December 31, 2010. All financial results described in this press release should be considered preliminary and unaudited, and are subject to change to reflect any necessary corrections or adjustments, or changes in accounting estimates, that are identified prior to the time the Company files its Annual Report on Form 10-K for the year ended December 31, 2010.
All statements in this press release that are not historical are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act as amended, including statements regarding Affymetrix’ “expectations,” “beliefs,” “hopes,” “intentions,” “strategies” or the like. Such statements are subject to risks and uncertainties that could cause actual results to differ materially for Affymetrix from those projected, including, but not limited to: risk relating to the Company’s ability to successfully commercialize new products, risk relating to past and future acquisitions, including the ability of the Company to successfully integrate such acquisitions into its existing business; risks relating to the Company’s ability to achieve and sustain higher levels of revenue, higher gross margins and reduced operating expenses; uncertainties relating to technological approaches, risks associated with manufacturing and product development; personnel retention; uncertainties relating to cost and pricing of Affymetrix products; dependence on collaborative partners; uncertainties relating to sole-source suppliers; uncertainties relating to FDA and other regulatory approvals; competition; risks relating to intellectual property of others and the uncertainties of patent protection and litigation. These and other risk factors are discussed in Affymetrix’ Annual Report on Form 10-K for the year ended December 31, 2009, and other SEC reports, including its Quarterly Reports on Form 10-Q for subsequent quarterly periods. Affymetrix expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Affymetrix’ expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

Affymetrix, Inc.
Media Contact:
Joyce Davis
Office: 408-731-5988
Mobile: 408-221-4428
Senior Manager, Corporate Communications
Joyce_Davis@affymetrix.com
or
Investor Contact:
Doug Farrell, 408-731-5285
Vice President, Investor Relations
Jan. 12, 2011 (Business Wire) — SDIX™ (NASDAQ: SDIX), a leading supplier of rapid detection solutions to the $1 billion food pathogen testing market, today announced that its RapidChek® SELECT™ Salmonella Enteritidis (SE) test system has been reviewed by the U.S. Food and Drug Administration (FDA) and determined to be equivalent in accuracy, precision and sensitivity to their current standard methods for poultry house environmental drag swabs and pooled egg testing. For pooled egg testing, SDIX’s method is considered by FDA as equivalent to its standard test without a 96-hour hold period, thus delivering results with a substantial time and cost advantage.
Recently, SDIX’s test also earned Performance-Tested Methods℠ (PTM) certification from the AOAC Research Institute (AOAC-RI). The AOAC PTM certification also validated the RapidChek SELECT SE method as equivalent to the FDA methodology for detecting SE in poultry house environments and pooled eggs. With the added FDA equivalency determination, SDIX’s test can help the approximately 3,300 egg producers comply with the new FDA regulations and significantly reduce contamination levels from those being experienced today by providing a more sensitive and accurate detection of SE.
The FDA Final Rule dictates that if SE is found in the layer environment, eggs must then be screened for the presence of SE in order to keep any contaminated eggs from reaching the consumer market. With this FDA equivalency ruling, SDIX can offer U.S. egg producers an easier, faster, and cost effective way to comply with that FDA regulation.
According to the USDA and the Center for Disease Control’s (CDC) FoodNet surveillance system Salmonella is not only the most common food-borne bacterial pathogen with over 1 million estimated cases annually in the US, but it is also responsible for more hospitalizations and more deaths – almost 400 annually– than any other food pathogen. Over 500 million eggs were recalled from this past summer’s SE outbreak with reports of approximately 1,800 cases of Salmonella poisoning from tainted eggs.
Tim Lawruk, Food Safety Market Manager at SDIX, said, “The RapidChek® SELECT™ SE test system can deliver results for environmental samples from the layer house one full day faster than the current FDA method and with substantially increased sensitivity and accuracy. These benefits enable egg producers to identify SE in the environment before it contaminates eggs, which helps ensure safer eggs and reduces the possibility of a costly egg recall. This ability to screen for SE quickly and accurately is especially relevant today given the recent egg recalls. For egg testing, the RapidChek SELECT method can provide SE test results 5 days faster than the FDA method, which has a substantial effect on product storage and release for the egg producers.”
Continuing, Mr. Lawruk said, “Obtaining both AOAC-RI certification and FDA method equivalency provides egg producers complete confidence that deploying SDIX’s rapid methods not only provides great financial benefits, but also ensures that they are complying with the testing requirements of the FDA Final Rule.”
The new testing system is comprised of the RapidChek® SELECT™ Salmonella Enteritidis detection system for screening environmental drag swabs or pooled eggs and the RapidChek® CONFIRM™ Salmonella Enteritidis immunomagnetic separation system for confirmation of environmental presumptive positive samples. The FDA statement of method equivalency can be found on the FDA Egg Safety Action Plan website.
About SDIX (www.sdix.com)
SDIX is a biotechnology company delivering advanced immuno-solutions and critical reagents to the life science sector, including pharmaceutical, biotechnology, diagnostic, and basic research partners as well as effective pathogen detection tests to help ensure food safety.
In life science, SDIX helps scientists discover the mechanisms of disease, facilitate the development of new drugs, and provide tools for rapid diagnosis through its suite of fully integrated immuno-solutions – from targeted antigen design to create unique antibodies, to assay design, development, and production. In food safety, SDIX rapid assays help customers reduce time, labor, and costs while increasing accuracy and reliability of food pathogen detection.
This news release may contain forward-looking statements reflecting SDIX’s current expectations. When used in this press release, words like “anticipate”, “could”, “enable”, “estimate”, “intend”, “expect”, “believe”, “potential”, “will”, “should”, “project”, “plan” and similar expressions as they relate to SDIX are intended to identify said forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, which may cause actual results to differ from those anticipated by SDIX at this time. Such risks and uncertainties include, without limitation, changes in demand for products, the application of our technologies to various uses, delays in product development, delays in market acceptance of new products, retention of customers and employees, adequate supply of raw materials, inability to obtain or delays in obtaining fourth party or required government approvals, the ability to meet increased market demand, competition, protection of intellectual property, non-infringement of intellectual property, seasonality, and other factors more fully described in SDIX’s public filings with the U.S. Securities and Exchange Commission.

SDIX Company Contact:
Tim Lawruk
Food Safety Market Manager
(302) 456-6789
tlawruk@sdix.com
VANCOUVER, BRITISH COLUMBIA–(Marketwire – 01/11/11) – International Tower Hill Mines Ltd. (“ITH” or the “Company”) (TSX:ITH)(AMEX:THM)(Frankfurt:IW9) is pleased to announce its 2011 Exploration Program at the Livengood Gold Project near Fairbanks, Alaska, and the addition of key new corporate and project personnel. The planned 2011 exploration program, budgeted at approximately $10 million, will include 45,000 metres of resource expansion and in-fill drilling at the Money Knob gold resource along with a 10,000-metre district-scale new discovery exploration program.
Initiation of 2011 Drilling Program at Livengood
The 2011 Exploration Program will commence in early February and include a $7.5-million, 45,000-metre resource expansion and in-fill drill program focused on the Money Knob deposit, which currently hosts an Indicated gold resource of 10.9 million ounces (409 million tonnes at an average grade of 0.83 g/t gold) and an Inferred gold resource of 2.4 million ounces (94 million tonnes at an average grade of 0.79 g/t gold), both at a 0.5 g/t gold cutoff). Drilling will focus on the west and southwest target areas and follow up a new deep high-grade zone discovered during the 2010 exploration program (as indicated by hole MK-RC-0458 which intercepted 112 metres of 2.63 g/t gold and 108 metres of 1.0 g/t gold – see NR10-38).
In addition, the Company will commence a $2.4-million, 10,000-metre district-scale new discovery exploration program involving major geophysics work for target generation at the Livengood project, where more than 90% of the 145 km(2) land package remains unexplored.
Livengood Resource Update
Upon receipt of final 2010 in-fill and step-out drill results, the Company will prepare a NI 43-101 technical report updating and potentially expanding (based on the positive results from step-out holes completed in 2010) the current Money Knob estimated resource. The updated resource estimate is expected to be completed in the first quarter of 2011.
Key Personnel Additions
The Company has strengthened its corporate and technical management structure with the following appointments:
-- Shirley Zhou has been appointed Vice President of Corporate
Communications to grow the Company's shareholder base and to spearhead a
comprehensive market awareness campaign within the international
investment community that will highlight the investment opportunity
represented by the Company. Ms. Zhou has eight years of combined
experience in journalism, investor relations and strategic marketing and
has worked as a corporate communications professional with publicly
listed companies in both Canada and the U.S. since 2005. Before joining
the Company, she held the position of Corporate Communications Manager
for Silvercorp Metals Inc., a NYSE/TSX-listed silver producer, from
August 2008 to August 2010. Ms. Zhou is based in Vancouver, B.C.
-- Debbie Evans has been appointed Controller for the Company's Alaskan
operations. Ms. Evans comes to the Company from the Kensington Mine
operated by Coeur Alaska Inc. where she was the Mines Controller. Prior
to Kensington, Ms. Evans was Controller at the Fort Knox Mine and
previously held senior accounting positions at the Stillwater and Round
Mountain Mines. Ms. Evans will be based in Fairbanks, Alaska.
Carl Brechtel, President and Chief Operating Officer, stated: “I am very pleased with the addition of our new team members and the exceptional expertise they bring to the Company and the Livengood project. ITH is extremely fortunate in its ability to attract such high calibre individuals to its organization as we continue to grow the Company.”
Grant of Incentive Stock Options
The Company also announces that, pursuant to its 2006 Incentive Stock Option Plan, it has granted incentive stock options to purchase 265,000 common shares in the capital stock of the Company to new and existing employees of the Company. The options are exercisable on or before January 10, 2013, at a price of CAD 9.15 per share and have a 12-month vesting period.
Livengood Project Summary
-- ITH controls 100% of its approximately 145 square kilometre Livengood
land package, which is made up of fee land leased from the Alaska Mental
Health Trust, a number of smaller private mineral leases and 115 Alaska
state mining claims.
-- The Livengood project has a favourable logistical location, being
situated 110 road kilometres north of Fairbanks, Alaska, along the
paved, all-weather Elliott Highway, the Trans-Alaska Pipeline Corridor
and the proposed Alaska natural gas pipeline route. The terminus of the
Alaska State power grid lies approximately 80 kilometres to the south.
-- Drilling at the project continues to expand the deposit with the current
estimated resource only representing a snapshot in time. The latest
resource estimate (as at June 22, 2010) of 409 Mt at an average grade of
0.83 g/t gold (10.9 Moz Indicated) and 94 Mt at an average grade of 0.79
g/t gold (2.4 Moz Inferred), both at a 0.5 g/t gold cut-off grade, makes
it one of the largest new gold discoveries in North America.
-- The Core and Sunshine Zones together account for most of the higher
grade mineralization (Indicated Resources of 202 Mt at an average grade
of 1.07 g/t gold and Inferred Resources of 40 Mt at an average grade of
1.06 g/t gold, based on a cut-off grade of 0.70 g/t gold) and will form
the basis for starter pit design work.
-- No major permitting hurdles have been identified to date.
-- A prefeasibility study is underway and processing alternative mining
scenarios to identify those that have the potential to make a
significant positive impact on project economics.
-- The geometry of the currently defined shallowly dipping, outcropping
deposit has a low strip ratio amenable to low-cost open-pit mining which
could support a high production rate and economies of scale.
Geological Overview
The Livengood Deposit is hosted in a thrust-interleaved sequence of Proterozoic to Palaeozoic sedimentary and volcanic rocks. Mineralization is related to a 90 million year old (Fort Knox age) dike swarm that cuts through the thrust stack. Primary ore controls are a combination of favourable lithologies and crosscutting structural zones. In areas distal to the main structural zones, the selective development of disseminated mineralization in favourable host rocks is the main ore control.
Within the primary structural corridors, all lithologies can be pervasively altered and mineralized. Devonian volcanic rocks and Cretaceous dikes represent the most favourable host lithologies and are pervasively altered and mineralized throughout the deposit. Two dominant structural controls are present: 1) the major shallow south-dipping faults which host dikes and mineralization which are related to dilatant movement on structures of the original fold-thrust architecture during post-thrusting relaxation, and 2) steep NW trending linear zones which focus the higher-grade mineralization which cuts across all lithologic boundaries. The net result is broad flat-lying zones of stratabound mineralization around more vertically continuous, higher grade core zones with a resulting lower strip ratio for the overall deposit and higher grade areas that could be amenable for starter pit production.
The surface gold geochemical anomaly at Livengood covers an area 6 kilometres long by 2 kilometres wide, of which approximately half has been explored by drilling to date. Surface exploration is ongoing as new targets are being developed to the northeast and west of the known deposit.
Qualified Person and Quality Control/Quality Assurance
Exploration and development work at the Livengood Project is directed by Carl E. Brechtel (Colorado PE 23212, Nevada PE 8744) who is a qualified person as defined by National Instrument 43-101. He is a member of AusIMM and SAIMM. Mr. Brechtel has supervised the preparation of the scientific and technical information in this news release and has approved such disclosure herein. Mr. Brechtel is not independent of the Company, as he is the President and COO of the Company and holds incentive stock options.
The Livengood development work program is supervised by Karl Hanneman, Alaska General Manager and Livengood Project Manager, who is responsible for all aspects of the Livengood development work. Mr. Hanneman is not independent of the Company, as he is an employee of the Company and holds incentive stock options.
The Livengood exploration program is designed and supervised by Chris Puchner, Chief Geologist (CPG 07048) of the Company, who is responsible for all aspects of the work, including the quality control/quality assurance program. Mr. Puchner is not independent of the Company as he is an employee of the Company and holds incentive stock options.
On-site personnel at Livengood photograph the core from each individual borehole prior to preparing the split core. Duplicate reverse circulation drill samples are collected with one split sent for analysis. Representative chips are retained for geological logging. On-site personnel at the project log and track all samples prior to sealing and shipping. All sample shipments are sealed and shipped to ALS Chemex in Fairbanks, Alaska, for preparation and then on to ALS Chemex in Reno, Nevada or Vancouver, B.C. for assay. ALS Chemex’s quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Finally, representative blind duplicate samples are forwarded to ALS Chemex and an ISO compliant third party laboratory for additional quality control.
About International Tower Hill Mines Ltd.
International Tower Hill Mines controls a 100% interest in the world-class Livengood Gold Project accessible by paved highway 70 miles north of Fairbanks, Alaska. ITH is focused on the rapid advancement of the project into a compelling potential development project in 2011 while it continues to expand its current resource and explore its 145 km(2)district for new deposits.
On behalf of International Tower Hill Mines Ltd.
Carl Brechtel, President and Chief Operating Officer
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the potential for the expansion of the estimated resources at Livengood, the potential to convert the existing estimated resources at Livengood from the indicated and inferred categories to the measured and indicated categories; the potential for any production at the Livengood project, the potential for higher grade mineralization to form the basis for a starter pit component in any production scenario, the potential low strip ratio of the Livengood deposit being amenable for low cost open pit mining that could support a high production rate and economies of scale, the potential for cost savings due to the high gravity concentration component of some of the Livengood mineralization, the potential for operational and capital cost savings through the potential use of milling, with a flotation-gravity circuit, the completion of a pre-feasibility study at Livengood, the potential for a production decision to be made regarding Livengood, the potential commencement of any development of a mine at Livengood following a production decision, business and financing plans and business trends, are forward-looking statements. Information concerning mineral resource estimates and the preliminary economic analysis thereof also may be deemed to be forward-looking statements in that it reflects a prediction of the mineralization that would be encountered, and the results of mining it, if a mineral deposit were developed and mined. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities, the Company’s inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company’s Amended 2010 Annual Information Form filed with certain securities commissions in Canada and the Company’s 2010 Annual Report on Form 40-F filed with the United States Securities and Exchange Commission (the “SEC”), and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and its United States public disclosure filings may be accessed via www.sec.gov, and readers are urged to review these materials, including the latest technical report filed with respect to the Livengood Property.
Cautionary Note Regarding References to Resources and Reserves
National Instrument 43 101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Unless otherwise indicated, all resource estimates contained in or incorporated by reference in this press release have been prepared in accordance with NI 43-101 and the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) Standards on Mineral Resource and Mineral Reserves, adopted by the CIM Council on November 14, 2004 (the “CIM Standards”) as they may be amended from time to time by the CIM.
United States shareholders are cautioned that the requirements and terminology of NI 43-101 and the CIM Standards differ significantly from the requirements and terminology of the SEC set forth in the SEC’s Industry Guide 7 (“SEC Industry Guide 7”). Accordingly, the Company’s disclosures regarding mineralization may not be comparable to similar information disclosed by companies subject to SEC Industry Guide 7. Without limiting the foregoing, while the terms “mineral resources”, “inferred mineral resources”, “indicated mineral resources” and “measured mineral resources” are recognized and required by NI 43-101 and the CIM Standards, they are not recognized by the SEC and are not permitted to be used in documents filed with the SEC by companies subject to SEC Industry Guide 7. Mineral resources which are not mineral reserves do not have demonstrated economic viability, and US investors are cautioned not to assume that all or any part of a mineral resource will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility study, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit amounts. The term “contained ounces” is not permitted under the rules of SEC Industry Guide 7. In addition, the NI 43-101 and CIM Standards definition of a “reserve” differs from the definition in SEC Industry Guide 7. In SEC Industry Guide 7, a mineral reserve is defined as a part of a mineral deposit which could be economically and legally extracted or produced at the time the mineral reserve determination is made, and a “final” or “bankable” feasibility study is required to report reserves, the three-year historical price is used in any reserve or cash flow analysis of designated reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.
This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.
NR11-01
Contact:
Contacts:
International Tower Hill Mines Ltd.
Shirley Zhou
Vice-President - Corporate Communications
1-888-770-7488 (toll free) or (604) 638-3247
(604) 408-7499 (FAX)
szhou@ithmines.com
www.ithmines.com
TAIYUAN, China, Jan. 11, 2011 /PRNewswire-Asia/ — Longwei Petroleum Investment Holding Ltd. (NYSE Amex: LPH) (“Longwei” or the “Company”), an energy company engaged in the storage and distribution of finished petroleum products in the People’s Republic of China (“PRC”), today provided select operating data and highlights for October and November 2010.
During the first two months of the fiscal second quarter ended December 31, 2010, Longwei generated $79.7 million in revenues, a year-over-year increase of 69% from $47.1 million for the same period in 2009. The table below provides highlights (in USD millions) for the comparative two-month periods:
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Revenues:
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Oct. 2009
|
Nov. 2009
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Total 2009
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Oct. 2010
|
Nov. 2010
|
Total 2010
|
|
Taiyuan
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22,122
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18,504
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40,626
|
|
21,845
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23,113
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44,958
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|
Gujiao
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0
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4,148
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4,148
|
|
14,966
|
16,011
|
30,977
|
|
Agency
|
1,175
|
1,200
|
2,375
|
|
1,805
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1,976
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3,781
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|
TOTAL
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23,297
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23,852
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47,149
|
|
38,616
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41,100
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79,716
|
|
|
|
|
|
|
|
|
|
|
Cost of Sales
|
18,700
|
19,094
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37,794
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|
30,892
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32,828
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63,720
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|
|
|
|
|
|
|
|
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Gross Profit
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4,597
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4,759
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9,355
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|
7,724
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8,272
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15,996
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|
|
|
|
|
|
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|
|
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“We are very pleased with our financial performance this quarter as our customers’ demand for petroleum products continues to grow,” said Cai Yongjun, President and CEO of Longwei. “We are now enjoying the benefits of having our Gujiao facility open for a year. The advantage of our large storage capacity and proximity to our customers allows us to better serve their needs. We have established a reputation for having product on-hand, and we can deliver on a timely basis to support our customers’ growth.”
Revenues for the fiscal year ended June 30, 2010 totaled $343 million, a 72% increase from fiscal 2009 revenues of $197 million. The Company has forecasted revenues exceeding $500 million for the fiscal year ended June 30, 2011, a 46% increase from fiscal 2010. Revenues for the first five months of fiscal 2011 increased 81% year-over-year to $193.0 million, up from $106.6 million for the first five months of fiscal 2010. The increase is primarily due to the contribution of the Gujiao facility and strong customer demand.
“The outlook for our industry and the economic environment is promising, as both the industrial and vehicle markets grow in our region,” said Michael Toups, CFO of Longwei. “We are actively exploring strategic opportunities to take advantage of this growth in the marketplace. Our last acquisition has proven to be very successful, and we want to be well-positioned to expand our distribution base to support the growing demand.”
About Longwei Petroleum Investment Holding Limited
Longwei Petroleum Investment Holding Limited is an energy company engaged in the storage and distribution of finished petroleum products in the People’s Republic of China. The Company’s oil and gas operations consist of transporting, storing and selling finished petroleum products, entirely in the PRC. The Company’s headquarters are located in Taiyuan City, Shanxi Province. The Company has a storage capacity for its products of 120,000 metric tons located at storage facilities in Taiyuan and Gujiao, Shanxi. The Company’s Taiyuan and Gujiao facilities can store 50,000 metric tons and 70,000 metric tons, respectively. The Company is 1 of 3 licensed intermediaries in Taiyuan and the sole licensed intermediary in Gujiao that operates its own large-scale storage tanks. The Company has the necessary licenses to operate and sell petroleum products not only in Shanxi but throughout the entire PRC. The Company’s storage tanks have the largest storage capacity of any non-government operated entity in Shanxi.
The Company seeks to earn profits by selling its products at competitive prices with timely delivery to coal mining operations, power supply customers, large-scale gas stations and small, independent gas stations. The Company also earns revenue under an agency fee by acting as a purchasing agent for other intermediaries in Shanxi, and through limited sales of diesel and gasoline at two retail gas stations, each located at the Company’s facilities. The Company seeks to continue to expand its customer base and distribution platform through the utilization of its large storage capacity, which allows the Company the flexibility to take advantage of pricing, supply and demand fluctuations in the marketplace.
For further information on Longwei Petroleum Investment Holding Limited, please visit http://www.longweipetroleum.com. You may register to receive Longwei Petroleum Investment Holding Limited’s future press releases or request to be added to the Company’s distribution list by contacting Dave Gentry at info@redchip.com.
Forward-Looking Statements
Certain statements contained herein constitute “forward-looking statements“ within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about Longwei‘s industry, management‘s beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Longwei‘s operations are conducted in the PRC and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company‘s results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. Other potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
Contact:
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|
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At the Company:
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Michael Toups, Chief Financial Officer
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U.S. Office +1 727-641-1357
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P.R.C. Tel. +86 186 0125 0891
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mtoups@longweipetroleum.com
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http://www.longweipetroleum.com
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Investor Relations:
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Dave Gentry, President
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RedChip Companies, Inc.
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Tel: +1-800-733-2447 Ext. 104
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Email: info@redchip.com
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Jing Zhang, Chief Representative
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RedChip Companies Beijing Office
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Tel: +86 10-8591-0635
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Web: http://www.RedChip.com
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DENVER, Jan. 11, 2011 (GLOBE NEWSWIRE) — Credo Petroleum Corporation (Nasdaq:CRED), an oil and gas exploration and production company with significant operations in the Rocky Mountain and Mid-Continent Regions, today updated its Bakken drilling activities in Dunn and Williams Counties, North Dakota.
In North Dakota’s Bakken oil resource play, the company has assembled approximately 8,000 gross (6,000 net) acres in the core of the play which are located primarily on the Fort Berthold Reservation, south and west of the Parshall Field. The acreage consists of approximately 50 initial well spacing units. The company expects that more than one well will be drilled on many spacing units. The project targets horizontal drilling for the Bakken and Sanish/Three Forks formations. Vertical well depths on the company’s acreage are approximately 10,000 feet and the horizontal legs are generally expected to range between 5,000 and 10,000 feet. The company’s interests range from very small to 56% depending on the size of the spacing unit.
To date, five wells have been drilled on the company’s acreage. Three of the wells are producing and two that are awaiting completion for production.
The company’s third high rate Bakken producer was recently completed. The Petro-Hunt 3-A well was drilled on a 1,280-acre spacing unit with an approximate 10,000-foot lateral, and was fracture stimulated in 25 stages. The well flowed at a restricted rate of 1,367 barrels of oil equivalent during a 24-hour test on a small (18/64″) choke with flowing casing pressure of 3,050 psi. While the well was drilled last year, the completion phase was delayed until recently due to shortages of fracture stimulation equipment. The well is located in Dunn County on the Fort Berthold Reservation about four miles southeast of the company’s Petro-Hunt 17-D well. Credo owns an 18.75% working interest in the new well.
The company’s first Bakken well (Petro-Hunt 17-D) tested at an initial rate of 1,474 barrels of oil equivalent per day (“BOEPD”) on a 20/64″ choke, and has produced about 87,000 BOE in 11 months. The well is also located in Dunn County on the southwest portion of the Fort Berthold Reservation, and appears to be one of the best wells in the area. Credo owns a 10% working interest in the well.
The company’s second Bakken well (Brigham Weisz 11-14) tested at an initial rate of 2,278 BOEPD on a 48/64″ choke, and has produced approximately 52,000 BOE in four months. The well is located about 50 miles northwest of the Petro-Hunt 17-D in Williams County. Credo owns a 6.25% working interest in the well. Brigham’s development plans for the spacing unit could potentially include two additional Bakken wells and up to three Sanish/Three Forks wells.
Drilling is complete on two additional wells located on the Fort Berthold Reservation where Credo owns small interests — the Zenergy 14-23 well and the Questar MHA 1-32 well. Both wells are currently awaiting completion for production. Credo owns 1.56% and 3.57% in the wells, respectively.
The company anticipates drilling at least nine wells on its Bakken acreage during 2011.
MANAGEMENT COMMENT
Marlis E. Smith, Jr., Chief Executive Officer, stated, “Our new Petro-Hunt 3-A well appears to be another excellent Bakken horizontal producer. It is significant that the well’s high test rate came on a small choke. Based on our 18.75% interest, we expect it to contribute significantly to Credo’s financial and operating results.
“Several years ago, the U.S. Geological Survey estimated that the Bakken contains around 4.0 billion barrels of undiscovered oil. Since that time, reserve estimates for the play have been increasing steadily as technology improves. The North Dakota Department of Mineral Resources recently indicated that the North Dakota portion of the Bakken and Sanish/Three Forks plays could reasonably contain 11 billion barrels of recoverable oil.
“Credo’s Bakken acreage is located in the heart of the play where about a dozen of the most active operators are drilling. We believe that more than one Bakken well will be drilled on many of our 50 spacing units. In addition, the Sanish/Three Forks Formation is prospective in the area, and it is likely that this formation will also be developed on some of our spacing units. Accordingly, we look forward to many wells being drilled on our acreage.”
Smith continued, “We are in the very early stages of growing Credo’s production and reserves from the heart of the nation’s premiere oil resource play. We plan to increase our drilling in 2011 with a realistic expectation of more outstanding success.”
About Credo Petroleum: Credo Petroleum Corporation is an independent exploration, development and production company based in Denver, Colorado. The company has significant operations in North Dakota’s Bakken play, the Texas Panhandle, Oklahoma, Kansas and Nebraska. Credo utilizes advanced technologies, including 3-D seismic, horizontal drilling and multi-stage, high pressure fracturing, to systematically explore for oil and gas. In addition, the company’s patented Calliope Gas Recovery System is used to revitalize old gas wells and recover stranded reserves from depleted gas reservoirs.
This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements included in this press release, other than statements of historical facts, address matters that the company reasonably expects, believes or anticipates will or may occur in the future. Such statements are subject to various assumptions, risks and uncertainties, many of which are beyond the control of the company. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those described in the forward-looking statements. Investors are encouraged to read the “Forward-Looking Statements” and “Risk Factors” sections included in the company’s Annual Report on Form 10-K for more information. Although the company may from time to time voluntarily update its prior forward looking statements, it disclaims any commitment to do so except as required by securities laws.
CONTACT: Marlis E. Smith, Jr.
Chief Executive Officer
or
Alford B. Neely
Chief Financial Officer
303-297-2200
Website: www.credopetroleum.com
JACKSONVILLE, Fla., Jan. 10, 2011 (GLOBE NEWSWIRE) — Body Central Corp. (Nasdaq:BODY) today announced that the Company is raising its guidance for the fourth quarter of fiscal 2010 ended January 1, 2011.
Net revenue for the fourth quarter of fiscal 2010 increased 26% to $67.2 million compared to $53.2 million for the fourth quarter of last year. Comparable store sales increased 15% for the fourth quarter of 2010 versus the Company’s previous guidance of a mid single-digit increase. The Company’s comparable store sales increased 7% in the fourth quarter of 2009.
Due to the stronger than anticipated net revenue for the fourth quarter of fiscal 2010, the Company now expects diluted earnings per share to be in the range of $0.17 to $0.18 compared to its previous guidance range for diluted earnings per share of $0.12 to $0.14. The Company now expects net income to be between $2.6 million and $2.8 million for the fourth quarter of fiscal 2010. This compares to the Company’s previous guidance of net income between $1.9 million and $2.2 million. For the fourth quarter of fiscal 2009, the Company reported net income of $1.5 million.
Excluding the non-recurring portion of public company and IPO expenses, estimated to be $1.2 million, as well as one-time costs related to the early repayment of debt of $793,000, diluted earnings per share for the fourth quarter of fiscal 2010 are expected to be in the range of $0.25 to $0.26 and net income is expected to range between $3.9 million and $4.1 million.
Allen Weinstein, Body Central’s President and Chief Executive Officer, stated: “Our solid fourth quarter comparable store sales results were driven by our continued focus on providing on-trend fashion at value prices. In addition, our new stores continue to perform well. Based on the strong sales results, we were able to accelerate investment in our stores more than we had previously budgeted. We believe we have the right initiatives in place to achieve our long-term financial goals and to drive increased shareholder value.”
As a reminder, the Company will be presenting at the 13th Annual ICR XChange Conference to be held at the St. Regis Monarch Beach Resort & Spa in Dana Point, California Wednesday, January 12, 2011 at 9:40 am Pacific Standard Time. Allen Weinstein, President and Chief Executive Officer and Rick Walters, Chief Financial Officer, will host the presentation.
The audio portion of the presentation will be webcast live at www.bodyc.com under the Investors section. An archived replay will be available two hours after the conclusion of the live event.
About Body Central Corp.
Founded in 1972, Body Central Corp. is a growing, multi-channel, specialty retailer offering on-trend, quality apparel and accessories at value prices. As of January 1, 2011, the Company operated 209 specialty apparel stores in 23 states under the Body Central and Body Shop banners, as well as a direct business comprised of a Body Central catalog and an e-commerce website at www.bodyc.com. The Company targets women in their late teens and twenties from diverse cultural backgrounds who seek the latest fashions and a flattering fit. Stores feature an assortment of tops, dresses, bottoms, jewelry, accessories and shoes sold primarily under the Company’s exclusive Body Central® and Lipstick® labels.
Safe Harbor Language
Certain statements in this release are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “guidance,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding delivery of trend-right merchandise, the performance of (new) stores and delivery of sales and profitability, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are (1) our ability to identify and respond to new and changing fashion trends, customer preferences and other related factors; (2) failure to execute successfully our growth strategy; (3) changes in consumer spending and general economic conditions; (4) changes in the competitive environment in our industry and the markets we serve, including increased competition from other retailers; (5) failure of our new stores or existing stores to achieve sales and operating levels consistent with our expectations; (6) the success of the malls and shopping centers in which our stores are located; (7) our dependence on a strong brand image; (8) failure of our direct business to grow consistent with our growth strategy; (9) failure of our information technology systems to support our business; (10) disruptions to our information systems in the ordinary course or as a result of systems upgrades; (11) our dependence upon key executive management or our inability to hire or retain additional personnel; (12) disruptions in our supply chain and distribution facility; (13) our indebtedness and lease obligations including restrictions imposed on our current and future operations by such obligations; (14) our reliance upon independent third-party transportation providers for all of our product shipments; (15) hurricanes, natural disasters, unusually adverse weather conditions, boycotts and unanticipated events; (16) the seasonality of our business; (17) increases in costs of fuel, or other energy, transportation or utilities costs and in the costs of labor and employment; (18) the impact of governmental laws and regulations and the outcomes of legal proceedings; (19) our failure to maintain effective internal controls; and (20) our inability to protect our trademarks or other intellectual property rights.
Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our Registration Statement on Form S-1 (File No. 333-168014), as amended, quarterly reports on Form 10-Q, and current reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
CONTACT: Investor Relations inquiries:
ICR, Inc.
Joseph Teklits/Jean Fontana
203-682-8200
www.icrinc.com
Jan. 10, 2011 (Business Wire) — Interactive Intelligence (Nasdaq: ININ), a global provider of unified IP business communications solutions, has announced preliminary results for its fourth quarter and fiscal year ended Dec. 31, 2010.
For the fourth quarter of 2010, the company expects to report total revenues of between $49.0 million and $51.0 million, compared to $35.9 million in the same quarter last year. Results for the fourth quarter of 2010 include revenues of $1.4 million for the Latitude Software subsidiary, which was acquired in October.
For the fourth quarter of 2010, GAAP net income is expected to be between $4.5 million and $5.3 million, with diluted earnings per share (EPS) of $0.23 to $0.27. Net income on a non-GAAP* basis is expected to be between $9.3 million and $10.1 million, with EPS of $0.48 to $0.52.
For the fourth quarter of 2009, the company reported GAAP net income and EPS of $2.5 million and $0.14, respectively, and non-GAAP net income and EPS of $5.1 million and $0.27, respectively.
Preliminary 2010 fourth quarter non-GAAP net income and EPS exclude the following: (i) stock-based compensation expense of approximately $1.0 million, or EPS of $0.05; (ii) purchase-related adjustments to revenue and amortization of intangibles of approximately $400,000, or $0.02 per share; and (iii) non-cash income tax expense of approximately $3.1 million to $3.5 million, or EPS of $0.16 to $0.18.
The 2009 fourth quarter non-GAAP net income and EPS exclude stock-based compensation expense of $775,000, or EPS of $0.04, and non-cash income tax expense of $1.8 million, or EPS of $0.09.
“The fourth quarter has traditionally been our strongest quarter each year,” said Interactive Intelligence founder and CEO, Dr. Donald E. Brown. “That was true for 2010 as well. A number of significant product orders resulted in an outstanding performance for the quarter, including five orders over $1 million and another 25 orders over $250,000.”
Revenues for the year ended Dec. 31, 2010 are expected to be between $164.7 million and $166.7 million, compared to $131.4 million for the 2009 fiscal year.
For 2010, net income on a GAAP basis is expected to be between $12.3 million and $13.1 million, with EPS of $0.65 to $0.69. For 2010, net income on a non-GAAP basis is expected to be between $25.3 million and $26.1 million, with EPS from $1.34 to $1.38.
For 2009, the company reported GAAP net income and EPS of $8.6 million and $0.47, respectively, and non-GAAP net income and EPS of $18.0 million and $0.99, respectively.
Preliminary 2010 non-GAAP net income and EPS exclude the following: (i) stock-based compensation expense of approximately $4.0 million, or EPS of $0.21; (ii) purchase-related adjustments to revenue and amortization of intangibles of approximately $500,000, or $0.03 per share; and (iii) non-cash income tax expense of approximately $7.9 million to $8.3 million, or EPS of $0.42 to $0.44.
The 2009 non-GAAP net income and EPS exclude stock-based compensation expense of $3.3 million, or EPS of $0.18, and non-cash income tax expense of $6.0 million, or EPS of $0.34.
Cash and investments as of Dec. 31, 2010 are expected to exceed $86 million. During the fourth quarter of 2010, stock option proceeds generated $4.5 million of cash, operations generated more than $10 million of cash, and the company used $15.3 million in the quarter to acquire Latitude Software.
“Based on these preliminary results, our current outlook for 2011 includes annual revenue of at least $200 million, which is growth of more than 20 percent from 2010,” Dr. Brown said. “We will continue to invest in our cloud-based infrastructure, research and development, and sales and marketing, in order to further capitalize on the momentum that we have built. We currently anticipate non-GAAP operating earnings, which exclude stock option expense and purchase accounting adjustments, of approximately 14 percent of revenues.”
The company has not completed preparation of its audited financial statements for the year ended Dec. 31, 2010. These preliminary results may be subject to adjustments and could change materially.
Interactive Intelligence plans to issue its final 2010 fourth quarter and year-end fiscal results Jan. 28 at 7 a.m. Eastern Standard Time. It will host a conference call Jan. 28 at 8:30 a.m. EST featuring Dr. Brown and the company’s CFO, Stephen R. Head. A live Q&A session will follow opening remarks.
To access the teleconference, please dial 1.877.324.1969 at least five minutes prior to the start of the call. Ask for the teleconference by the following name: “Interactive Intelligence fourth quarter earnings call.”
The teleconference will also be broadcast live on the company’s investor relations’ page at http://investors.inin.com. An archive of the teleconference will be posted following the call.
About Interactive Intelligence
Interactive Intelligence Inc. (Nasdaq: ININ) is a global provider of unified business communications solutions for contact center automation, enterprise IP telephony, and business process automation. The company was founded in 1994 and has more than 3,500 customers worldwide. Interactive Intelligence is among Software Magazine’s 2010 Top 500 Global Software and Services Suppliers, and Forbes Magazine’s 2010 Best Small Companies in America. The company is also positioned in the leaders’ quadrant of the Gartner Magic Quadrant for Contact Center Infrastructure, Worldwide report (Feb. 22, 2010). Interactive Intelligence employs approximately 800 people and is headquartered in Indianapolis, Indiana. It has 16 offices throughout North America, Latin America, Europe, Middle East, Africa and Asia Pacific. Interactive Intelligence can be reached at +1 317.872.3000 or info@inin.com; on the Net: www.inin.com.
* Non-GAAP Measures
The non-GAAP measures shown in this release include revenue which was not recognized on a GAAP basis due to purchase accounting adjustments and exclude non-cash stock-based compensation expense for stock options, the amortization of certain intangible assets related to acquisitions by the company and non-cash income tax expense. These measures are not in accordance with, or an alternative for, GAAP and may be different from non-GAAP measures used by other companies. Stock-based compensation expense and amortization of intangibles related to acquisitions are non-cash and income tax expense is primarily non-cash. Management believes that the presentation of non-GAAP results, when shown in conjunction with corresponding GAAP measures, provides useful information to management and investors regarding financial and business trends related to the company’s results of operations. Further, management believes that these non-GAAP measures improve management’s and investors’ ability to compare the company’s financial performance with other companies in the technology industry. Because stock-based compensation expense, non-cash income tax expense amounts and amortization of intangibles related to acquisitions can vary significantly between companies, it is useful to compare results excluding these amounts. Management also uses financial statements that exclude stock-based compensation expense related to stock options, non-cash income tax amounts and amortization of intangibles related to acquisitions for its internal budgets.
This release contains certain forward-looking statements that involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: rapid technological changes in the industry; the company’s ability to maintain profitability; to manage successfully its growth; to manage successfully its increasingly complex third-party relationships resulting from the software and hardware components being licensed or sold with its solutions; to maintain successful relationships with certain suppliers which may be impacted by the competition in the technology industry; to maintain successful relationships with its current and any new partners; to maintain and improve its current products; to develop new products; to protect its proprietary rights adequately; to successfully integrate acquired businesses; and other factors described in the company’s SEC filings, including the company’s latest annual report on Form 10-K.
Interactive Intelligence Inc. is the owner of the marks INTERACTIVE INTELLIGENCE, its associated LOGO and numerous other marks. All other trademarks mentioned in this document are the property of their respective owners.
ININ-G

Interactive Intelligence Inc.
Stephen R. Head, +1 317-715-8412
Chief Financial Officer
steve.head@inin.com
or
Interactive Intelligence Inc.
Christine Holley, +1 317-715-8220
Director, Market Communications
christine.holley@inin.com
or
Follow Interactive Intelligence:
Twitter: www.twitter.com/IN_Intelligence
Blog: www.inin.com/blog
MALVERN, Pa., Jan. 10, 2011 /PRNewswire/ — Auxilium Pharmaceuticals, Inc. (Nasdaq: AUXL) today reported that preliminary fourth quarter 2010 total net revenue was $61.8 million, up 28.7% compared with $48.0 million in the fourth quarter of 2009. For the full year 2010, preliminary total net revenue was $211.4 million, up 28.9% compared with $164.0 million in 2009.
(Logo: http://photos.prnewswire.com/prnh/20101202/MM10881LOGO )
“We are energized by the significant progress that Auxilium made in 2010. We achieved record revenues for Testim®, launched XIAFLEX® in the U.S. for Dupuytren’s contracture, received a positive CHMP opinion with our EU partner, Pfizer, for XIAFLEX for Dupuytren’s contracture, and initiated XIAFLEX global phase III clinical trials for Peyronie’s disease,” said Armando Anido, Chief Executive Officer and President of Auxilium. “As we look forward to 2011 and beyond, we expect Testim revenues to continue to grow and believe that the potential global market for XIAFLEX represents a blockbuster opportunity, which could provide sustainable long-term growth for the Company.”
Preliminary Fourth Quarter 2010 Revenue Details
Auxilium reported the following unaudited net revenues (all amounts in millions of dollars) for the quarter ended December 31, 2010:
|
Quarter End
|
|
Quarter End
|
|
Increase
|
|
|
12/31/2010
|
|
12/31/2009
|
|
(Decrease)
|
|
|
|
|
|
|
|
|
Testim U.S. Revenue
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$52.1
|
|
$42.2
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|
23.3%
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|
|
|
|
|
|
|
|
Testim Ex – U.S. & Contract Revenue
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1.3
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|
4.9
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|
(73.7%)
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|
|
|
|
|
|
|
|
Total Testim Revenue
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$53.4
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$47.1
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|
13.3%
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|
|
|
|
|
|
|
|
XIAFLEX U.S. Revenue
|
$7.3
|
|
n/a
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|
n/a
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|
|
|
|
|
|
|
|
XIAFLEX Contract Revenue
|
1.1
|
|
0.9
|
|
22.1%
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|
|
|
|
|
|
|
|
Total XIAFLEX Revenue
|
$8.4
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|
$0.9
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|
845.0%
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|
|
|
|
|
|
|
|
Total Worldwide Revenue
|
$61.8
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|
$48.0
|
|
28.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contract Revenues represent amortization of previously received upfront and milestone payments.
Preliminary 2010 Revenue Details
Auxilium reported the following unaudited net revenues (all amounts in millions of dollars) for the full year 2010:
|
Year End
|
|
Year End
|
|
Increase
|
|
|
12/31/2010
|
|
12/31/2009
|
|
(Decrease)
|
|
|
|
|
|
|
|
|
Testim U.S. Revenue
|
$190.0
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|
$152.0
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|
25.0%
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|
|
|
|
|
|
|
|
Testim Ex – U.S. & Contract Revenue
|
3.0
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|
8.5
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|
(64.2%)
|
|
|
|
|
|
|
|
|
Total Testim Revenue
|
$193.0
|
|
$160.5
|
|
20.3%
|
|
|
|
|
|
|
|
|
XIAFLEX U.S. Revenue
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$14.1
|
|
n/a
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|
n/a
|
|
|
|
|
|
|
|
|
XIAFLEX Contract Revenue
|
4.3
|
|
3.6
|
|
22.1%
|
|
|
|
|
|
|
|
|
Total XIAFLEX Revenue
|
$18.4
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|
$3.6
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|
416.7%
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|
|
|
|
|
|
|
|
Total Worldwide Revenue
|
$211.4
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|
$164.0
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|
28.9%
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|
|
|
|
|
|
|
Contract Revenues represent amortization of previously received upfront and milestone payments.
2011 XIAFLEX Net Revenue Guidance
For 2011, Auxilium anticipates that 2011 XIAFLEX net revenues will be in the range of $55.0 to $67.0 million, including approximately $50.0 to 60.0 million in U.S. revenue, and $5.0 to 7.0 million in revenue recognized from royalties and milestones under the Pfizer contract.
Upcoming Investor Presentation
Auxilium reported these numbers in advance of a presentation to investors tomorrow, January 11, 2011 at the 29th Annual J.P. Morgan Healthcare Conference in San Francisco, when Auxilium’s Chief Executive Officer and President, Armando Anido, will outline the Company’s strategic priorities.
Mr. Anido will speak at 4:00 p.m. PT (7:00 p.m. ET) tomorrow, and his remarks will be webcast via a link on the “For Investors” section of www.auxilium.com. Mr. Anido will give an overview of the Auxilium current business strategy, which will focus on the following areas:
- maximizing the value of Testim and XIAFLEX,
- delivering on the current pipeline,
- building out the pipeline in specialty therapeutic areas.
A PDF of the presentation slides to be used during the remarks is now available on the “For Investors” section of the Auxilium web site under the “Presentations” tab. A question and answer session will follow tomorrow’s presentation and will also be webcast. The presentation webcast, the presentation slides and the question and answer session webcast can be accessed via a link on the “For Investors” section of the Auxilium web site under the “Events” tab. The replay will be available for ninety days after the event.
About Auxilium
Auxilium Pharmaceuticals, Inc. is a specialty biopharmaceutical company with a focus on developing and marketing products to predominantly specialist audiences, such as urologists, endocrinologists, certain targeted primary care physicians, hand surgeons, subsets of orthopedic, general, and plastic surgeons who focus on the hand, and rheumatologists. Auxilium markets XIAFLEX® (collagenase clostridium histolyticum) for the treatment of adult Dupuytren’s contracture patients with a palpable cord and Testim® 1%, a topical testosterone gel, for the treatment of hypogonadism. Auxilium has four projects in clinical development. XIAFLEX is in phase III of development for the treatment of Peyronie’s disease and is in phase II of development for treatment of Frozen Shoulder syndrome (Adhesive Capsulitis). Auxilium’s transmucosal film product candidate for the treatment of overactive bladder (AA4010) and its fentanyl pain product using its transmucosal delivery system are in phase I of development. The Company is currently seeking a partner to further develop these product candidates. Auxilium has rights to additional pain products and products for hormone replacement and urologic disease using its transmucosal film delivery system. Auxilium also has options to all indications using XIAFLEX for non-topical formulations. For additional information, visit http://www.auxilium.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This release contains “forward-looking-statements” within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s intention to present at the 29th Annual J.P. Morgan Healthcare Conference; anticipated net revenues for 2011; and products in development for Peyronie’s disease, Frozen Shoulder syndrome, overactive bladder, pain, hormone replacement and urologic disease; and all other statements containing projections, statements of future performance or expectations, our beliefs or statements of plans or objectives for future operations (including statements of assumption underlying or relating to any of the foregoing). Forward-looking statements can generally be identified by words such as “believe,” “appears,” “may,” “could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” and other words and terms of similar meaning in connection with any discussion of projections, future performance or expectations, beliefs, plans or objectives for future operations (including statements of assumption underlying or relating to any of the foregoing). Actual results may differ materially from those reflected in these forward-looking statements due to various factors, including further evaluation of clinical data, results of clinical trials, decisions by regulatory authorities as to whether and when to approve drug applications, and general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries and those discussed in Auxilium’s Annual Report under the heading “Risk Factors” on Form 10-K for the year ended December 31, 2009 and in Auxilium’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2010, which are on file with the Securities and Exchange Commission (the “SEC”) and may be accessed electronically by means of the SEC’s home page on the Internet at http://www.sec.gov or by means of Auxilium’s home page on the Internet at http://www.Auxilium.com under the heading “For Investors — SEC Filings.” There may be additional risks that Auxilium does not presently know or that Auxilium currently believes are immaterial which could also cause actual results to differ from those contained in the forward-looking statements. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements.
In addition, forward-looking statements provide Auxilium’s expectations, plans or forecasts of future events and views as of the date of this release. Auxilium anticipates that subsequent events and developments will cause Auxilium’s assessments to change. However, while Auxilium may elect to update these forward-looking statements at some point in the future, Auxilium specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Auxilium’s assessments as of any date subsequent to the date of this release.
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For More Information, Contact:
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|
|
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|
James E. Fickenscher / CFO
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William Q. Sargent, Jr. / V.P., IR
|
|
Auxilium Pharmaceuticals, Inc.
|
Auxilium Pharmaceuticals, Inc.
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|
(484) 321-5900
|
(484) 321-5900
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|
jfickenscher@auxilium.com
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wsargent@auxilium.com
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FORT LAUDERDALE, Fla., Jan. 10, 2011 (GLOBE NEWSWIRE) — MAKO Surgical Corp. (Nasdaq:MAKO), a medical device company that markets both its RIO® Robotic Arm Interactive Orthopedic surgical platform and proprietary RESTORIS® implants for minimally invasive orthopedic procedures known as MAKOplasty®, today announced its selected operating results for its fourth quarter ended December 31, 2010 in anticipation of its business update presentation at the 29th Annual J.P. Morgan Healthcare Conference at the Westin St. Francis Hotel in San Francisco on Wednesday, January 12, 2011 at 2:30 pm PST.
MAKO will provide a live webcast of the business update presentation. Interested parties may access the live webcast by visiting the investor relations section of MAKO’s web site at www.makosurgical.com. A replay of the webcast will be available at the site after the live presentation.
2010 Fourth Quarter and Full Year Review
RIO Systems – Thirteen RIO systems were installed and customer accepted at commercial sites during the fourth quarter. A total of 33 new RIO systems were sold worldwide in 2010 and MAKO’s domestic commercial installed base of RIO systems totaled 67 as of December 31, 2010.
MAKOplasty Procedure Volume – During the fourth quarter, 1,146 MAKOplasty procedures were performed, of which 1,142 procedures were performed at domestic sites, and our clinical research site in Glasgow, Scotland reported that four procedures were performed at its site. The 1,146 MAKOplasty procedures represent a 41% increase over procedures performed in the third quarter of 2010 and a 104% increase over the fourth quarter of 2009. The average monthly utilization per system was 6.7 procedures during the fourth quarter of 2010, an increase from 5.7 procedures per system per month in the third quarter of 2010 and 6.0 procedures per system per month in the fourth quarter of 2009. The average monthly utilization per system for the year ended December 31, 2010 was 6.4. A total of 3,485 MAKOplasty procedures were performed in 2010 and through December 31, 2010, a total of 5,869 procedures have been performed since the first procedure in June 2006.
“We are pleased that our ongoing focus on execution has continued to produce strong operating results,” said Maurice R. Ferre, M.D., President and Chief Executive Officer of MAKO. “We are also pleased that we continue to experience strong adoption of MAKOplasty by surgeons and hospitals.”
Earnings Call Information
MAKO will host a conference call on Tuesday, March 1 at 4:30 pm EST to discuss its fourth quarter and full year 2010 financial results. To listen to the conference call, please dial 877-843-0414 for domestic callers and 914-495-8580 for international callers approximately ten minutes prior to the start time. To access the live audio broadcast or the subsequent archived recording, visit the Investor Relations section of MAKO’s website at www.makosurgical.com.
About MAKO Surgical Corp.
MAKO Surgical Corp. is a medical device company that markets both its RIO® Robotic Arm Interactive Orthopedic system and its proprietary RESTORIS® knee implants for a minimally invasive orthopedic procedure called knee MAKOplasty®. The MAKO RIO is a surgeon-interactive tactile surgical platform that incorporates a robotic arm and patient-specific visualization technology, and prepares the knee joint for the insertion and alignment of MAKO’s resurfacing RESTORIS implants through a minimal incision. The FDA-cleared and CE Marked RIO system allows surgeons to provide precise, consistently reproducible tissue-sparing, bone resurfacing for a large, yet underserved, patient population suffering from early to mid-stage osteoarthritic knee disease. MAKO has an intellectual property portfolio of more than 250 owned or licensed patents and patent applications relating to the areas of robotics, haptics, computer assisted surgery and implants. Additional information can be found at www.makosurgical.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding, among other things, statements related to expectations, goals, plans, objectives and future events. MAKO intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Reform Act of 1995. In some cases, forward-looking statements can be identified by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements are based on the current estimates and assumptions of our management as of the date of this press release and are subject to risks, uncertainties, changes in circumstances, assumptions and other factors that may cause actual results to differ materially from those indicated by forward-looking statements, many of which are beyond MAKO’s ability to control or predict. Such factors, among others, may have a material adverse effect on MAKO’s business, financial condition and results of operations and may include the potentially significant impact of a continued economic downturn or delayed economic recovery on the ability of MAKO’s customers to secure adequate funding, including access to credit, for the purchase of MAKO’s products or cause MAKO’s customers to delay a purchasing decision, changes in competitive conditions and prices in MAKO’s markets, unanticipated issues relating to intended product launches, decreases in sales of MAKO’s principal product lines, increases in expenditures related to increased or changing governmental regulation or taxation of MAKO’s business, unanticipated issues in securing regulatory clearance or approvals for new products or upgrades or changes to MAKO’s current products, the impact of the recently enacted United States healthcare reform legislation on hospital spending, reimbursement, and the taxing of medical device companies, loss of key management and other personnel or inability to attract such management and other personnel and unanticipated intellectual property expenditures required to develop, market, and defend MAKO’s products. These and other risks are described in greater detail under Item 1A, “Risk Factors,” in MAKO’s annual report on Form 10-K for the year ended December 31, 2009 filed with the Securities and Exchange Commission on March 10, 2010, MAKO’s quarterly report on Form 10-Q for the quarter ended March 31, 2010 filed with the Securities and Exchange Commission on May 7, 2010 and MAKO’s quarterly report on Form 10-Q for the quarter ended September 30, 2010 filed with the Securities and Exchange Commission on November 3, 2010. Given these uncertainties, undue reliance should not be placed on these forward-looking statements. MAKO does not undertake any obligation to release any revisions to these forward-looking statements publicly to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
“MAKOplasty®,” “RESTORIS®,” “RIO®,” as well as the “MAKO” logo, whether standing alone or in connection with the words “MAKO Surgical Corp.” are trademarks of MAKO Surgical Corp.
CONTACT: Investors:
MAKO Surgical Corp.
Susan M. Verde
954-927-2044 x349
sverde@makosurgical.com
Westwicke Partners
Mark Klausner
443-213-0500
makosurgical@westwicke.com
LONGMONT, Colo., Jan. 10, 2011 /PRNewswire/ — Dot Hill Systems Corp. (Nasdaq: HILL), a provider of world-class storage solutions and software for OEMs, open storage partners and system integrators, announced today that it expects to report net revenue, gross margin and earnings per share results for the quarter ended December 31, 2010 to exceed the guidance provided by the company on November 3, 2010.
Based upon preliminary results for the fourth quarter of 2010, the company expects to report:
Net revenue in the range of $65.0 to $65.5 million, compared to previous guidance of $58.0 to $62.0 million.
Non-GAAP* gross margin to be in the range of 21% to 22%, compared to previous guidance of 19% to 20%.
Non-GAAP* earnings per share in the range of $0.02 to $0.04 on a fully diluted basis, compared to previous guidance of a range of a loss of $0.03 to a profit of $0.01.
Cash and cash equivalents are expected to be approximately $45.7 million, up from $41.8 million at the end of the third quarter of 2010.
Management still expects non-GAAP* operating expenses for the fourth quarter of 2010 to be within the guidance range of $12.0 to $12.5 million established on November 3, 2010.
The company attributes the expected net revenue results to strength across all geographies and sales channels in spite of its intentional early termination of its NetApp agreement, effective December 1, 2010.
“I am pleased with the progress we have made in the fourth quarter of 2010,” commented Dana Kammersgard, the company’s president and chief executive officer. “These projected results represent another proof point that our strategy to expand gross margin and create a sustainably profitable business model is on track.”
Hanif Jamal, the company’s senior vice president and chief financial officer stated, “We are encouraged by our preliminary financial results for the fourth quarter of 2010. With respect to the first quarter of 2011, we continue to maintain the same outlook that we provided at the third quarter of 2010 earnings call and anticipate a decline in net revenues due to seasonal factors and the termination of our relationship with NetApp and currently project non-GAAP earnings per share to be at or around a break-even level.”
Dot Hill is still awaiting the completion of the audit of its 2010 financial results and anticipates that it will release final results and first quarter 2011 guidance on its regularly scheduled conference call which is expected to take place in the first half of March 2011.
* About Non-GAAP Financial Measures
This press release contains expected financial results that exclude the effects of stock-based compensation expense, severance costs, restructuring costs, intangible asset amortization, transaction expenses associated with the Company’s acquisition of Cloverleaf, a contingent consideration adjustment and foreign currency gains or losses, and are not in accordance with U.S. generally accepted accounting principles (GAAP). The Company believes that these non-GAAP financial measures provide meaningful supplemental information to both management and investors that is indicative of the Company’s core operating results and facilitates comparison of operating results across reporting periods. The Company uses these non-GAAP measures when evaluating its financial results as well as for internal resource management, planning and forecasting purposes. These non-GAAP measures should not be viewed in isolation from or as a substitute for the Company’s financial results in accordance with GAAP.
About Dot Hill
Delivering innovative technology and global support, Dot Hill empowers the OEM community to bring unique storage solutions to market, quickly, easily and cost-effectively. Offering high performance and industry-leading uptime, Dot Hill’s RAID technology is the foundation for best-in-class storage solutions offering enterprise-class security, availability and data protection. The Company’s products are in use today by the world’s leading service and equipment providers, common carriers and advanced technology and telecommunications companies, as well as government agencies. Dot Hill solutions are certified to meet rigorous industry standards and military specifications, as well as RoHS and WEEE international environmental standards. Headquartered in Longmont, Colorado, Dot Hill has offices and/or representatives in China, Germany, Japan, United Kingdom, Singapore, Israel and the United States. For more information, visit us at http://www.dothill.com.
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include statements regarding Dot Hill’s projected final fourth quarter 2010 and future financial results, financing activities, and Dot Hill’s prospects and maintaining the achievement of profitability. The risks that contribute to the uncertain nature of these statements include, among other things: the risk that actual, audited fourth quarter 2010 financial results will be different from those projected, that Dot Hill’s next-generation products may not achieve market acceptance; the Company’s expense reduction and resource allocation plans may not continue to have the anticipated positive effects on the Company’s financial results; the risks associated with macroeconomic factors that are outside of Dot Hill’s control; the fact that no Dot Hill customer agreements provide for mandatory minimum purchase requirements; the risk that one or more of Dot Hill’s OEM or other customers may cancel or reduce orders, not order as forecasted or terminate their agreements with Dot Hill; the risk that Dot Hill’s new products may not prove to be popular; the risk that one or more of Dot Hill’s suppliers or subcontractors may fail to perform or may terminate their agreements with Dot Hill; unforeseen technological, intellectual property, personnel or engineering issues; and the additional risks set forth in the Forms 10-K and 10-Q most recently filed with the Securities and Exchange Commission by Dot Hill. All forward-looking statements contained in this press release speak only as of the date on which they were made. Dot Hill undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
HILL-F
Hanif Jamal
Chief Financial Officer
Tel: 303-845-3200
Email: investors@dothill.com
Peter Seltzberg
Hayden IR
Tel: 646-415-8972
Email: peter@haydenir.com
Jan. 10, 2011 (Business Wire) — ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), a biopharmaceutical company utilizing innovative technology to fuel drug discovery and clinical development of novel treatments for central nervous system disorders, today announced that it has entered into a securities purchase agreement for a private placement financing with a select group of institutional investors, including New Enterprise Associates and Venrock. Upon the closing of the transaction, ACADIA will receive gross proceeds of $15.0 million from the sale of approximately 12.57 million units at a price of $1.19375 per unit. Each unit consists of one share of ACADIA’s common stock and a warrant to purchase 0.35 shares of common stock. The private placement is expected to close on January 12, 2011 and is subject to the satisfaction of customary closing conditions.
The anticipated proceeds from the private placement will provide ACADIA with additional resources to advance its Phase III pimavanserin program, including the ongoing Phase III trials in Parkinson’s disease psychosis, and is expected to extend ACADIA’s cash runway into 2013.
JMP Securities LLC acted as lead placement agent and MTS Securities, LLC, an affiliate of MTS Health Partners, acted as co-placement agent in the transaction.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (“SEC”) or an applicable exemption from such registration requirements. ACADIA has agreed to file a registration statement with the SEC covering the resale of the shares of common stock, including the shares of common stock issuable upon exercise of the warrants, sold in the private placement.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company utilizing innovative technology to fuel drug discovery and clinical development of novel treatments for central nervous system disorders. ACADIA has a portfolio of four product candidates including pimavanserin, which is in Phase III clinical development as a treatment for Parkinson’s disease psychosis. ACADIA also has a product candidate in Phase II for chronic pain and a product candidate in Phase I for glaucoma, both in collaboration with Allergan, as well as a product candidate in IND-track development for schizophrenia in collaboration with Meiji Seika Kaisha. All of the product candidates in ACADIA’s pipeline emanate from discoveries made using its proprietary drug discovery platform. ACADIA maintains a website at www.acadia-pharm.com to which ACADIA regularly posts copies of its press releases as well as additional information and through which interested parties can subscribe to receive email alerts.
Forward-Looking Statements
This press release contains statements that are forward-looking, including statements regarding ACADIA’s expectations regarding the amount and expected uses of the proceeds that will be received in the private placement, the length of ACADIA’s cash runway, the expected closing date of the private placement transaction, and the anticipated filing of a registration statement to cover the resale of the shares and warrant shares underlying the warrants expected to be sold in the private placement. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks and uncertainties associated with ACADIA’s ability to complete the private placement and register the shares of common stock, including events outside of ACADIA’s control, as well as the risks and uncertainties inherent in drug discovery and development, including those related to clinical trials. For a discussion of these and other factors, please refer to ACADIA’s annual report on Form 10-K for the year ended December 31, 2009 as well as other subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and ACADIA undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
ACADIA Pharmaceuticals Inc.
Thomas H. Aasen, 858-558-2871
Executive Vice President, Chief Financial Officer and Chief Business Officer
Subaye, Inc., a leading online business services provider in China, is primarily focused on enterprise cloud computing and video marketing business solutions. The company’s online business services include business to consumer (B2C) ecommerce, e-managment solutions, e-marketing solutions, e-service solutions and video search engine optimization.
Cloud computing is poised to change the way enterprise computing is conducted in China. CCW Research anticipates the Chinese cloud computing market will reach approximately $9 billion (61.3 billion RMB) by 2013. Because few domestic firms have ventured into cloud computing and global firms are less visible in the Chinese market, Subaye has a unique advantage on which to capitalize.
The company began its expansion initiative outside of Guangdong Province in 2010 and will continue to seek out customers of all sizes, primarily through its direct sales force. Subaye recently completed an aggressive expansion of its internal sales force and plans to further increase its sales department to meet the demands of the various markets in China that it now operates in.
The company currently serves its customers from data center hosting facilities located in Guangzhou City, Guangdong Province, China. Subaye plans to add additional data centers in other primary market locations this year while reaching out to potential new customers in new markets, developing and strengthening its local contacts within each market and increasing brand awareness throughout China.
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SAN MATEO, CA — (Marketwire) — 01/06/11 — January 6th – China Armco Metals, Inc. (NYSE Amex: CNAM) (“China Armco” or the “Company”), a distributor of imported metal ore and metal recycler with a new state-of-the-art scrap metal recycling facility in China, today announced it has received confirmation that local government imposed power restrictions for energy intensive industries and steel producers will be lifted in January 2011. With the announcement, the Company’s scrap metal recycling business can return to full operations.
The central government imposed energy restrictions in at least 18 provinces beginning in September 2010 in an effort to meet the energy consumption and emissions targets set by the National 11th Five Year Plan (2006-2010), which significantly impacted output in the steel industry and the operations at China Armco.
“We are pleased to receive news that the power rationing will be phased out,” said Mr.Kexuan Yao, the Company’s Chairman and Chief Executive Officer. “These restrictions temporarily affected our operations in the third and fourth quarters of 2010, and we are encouraged to be operating on a full time basis. We will now be able to rapidly accelerate our growth in this area of great potential.”
China consumes over 500 million tons of steel annually and is the largest in the world. 100 million tons of scrap steel are utilized in this production per year and currently Chinese producers only meet 60% of this demand annually. The Company’s recycling operations, which can process up to one million tons of metal scrap per year, is expected to contribute substantially to the company’s revenues.
About China Armco Metals, Inc.
China Armco Metals, Inc. is engaged in the sale and distribution of metal ore and non-ferrous metals throughout the PRC and is in the recycling business with the recent launch of operations of a metal recycling facility capable of producing up to approximately one million tons per year located on 32 acres of land. China Armco maintains customers throughout China which includes the fastest growing steel producing mills and foundries in the PRC. Raw materials are acquired from a global group of suppliers located diverse countries, including, but not limited to, India, Hong Kong, Nigeria, Brazil, Turkey and the Philippines. China Armco’s product lines include ferrous and non-ferrous ore, iron ore, chrome ore, nickel ore, magnesium, copper ore, manganese ore and steel billet. The recycling facility is expected to be capable of recycling one million metric tons of scrap metal per year which will position the Company as one of the 10 largest recyclers of scrap metal in China. China Armco estimates the recycled metal market in China as 70 million metric tons. For more information about China Armco, please visit http://www.armcometals.com.
Safe Harbor Statement
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, China Armco Metals, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations regarding our revenues and production related to our scrap metal recycling operations and the extent of government imposed energy restrictions and resulting blackouts and impact on our recycling operations.
In addition, any such statements are qualified in their entirety by reference to, and are accompanied by, the following key factors that have a direct bearing on our results of operations:
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the following, including, but not limited to, any expectations with respect to the Company’s revenues and operations, institution of governmental regulations relating to our businesses and the international economic climate, and the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the year ended December 31, 2010.
Contact:
For more information, please contact:
Investor Relations:
HC International, Inc.
Ted Haberfield, Executive VP
Tel: +1-760-755-2716
Email: ir@armcometals.com
Web: www.hcinternational.net
Company:
US Contact:
Oliver Hu
Investor Relations
China Armco Metals, Inc.
Office: 650.212.7620
Email: oliver@armcometals.com
Website: www.armcometals.com
China Contact:
Wayne Wu
China Armco Metals, Inc.
Office: 021-62375286
Email: wayne.wu@armcometals.com
Website: www.armcometals.com
ANN ARBOR, Mich., Jan. 6, 2011 /PRNewswire/ — Adeona Pharmaceuticals, Inc. (NYSE AMEX: AEN) , a developer of innovative medicines for serious central nervous system diseases, announced today that James S. Kuo, M.D., M.B.A., the Company’s Chief Executive Officer, will present at the OneMedForum San Francisco 2011 conference. Dr. Kuo will present at 1:45pm PST (4:45pm EST) on Tuesday, January 11, 2011 in the Renaissance Room at the Sir Francis Drake Hotel. A live webcast of Adeona’s presentation can be accessed by logging onto the web at http://www.ustream.tv/channel/onemedforum. After the presentation, a replay will be archived and accessible on Adeona’s website at www.adeonapharma.com.
About OneMedForum 2011
OneMedForum is a financial conference that includes industry-focused panel sessions, numerous networking opportunities and more than 125 presentations by some of the most promising emerging medical device, biotech and health information companies. OneMedForum San Francisco 2011 runs concurrently with the J.P. Morgan Healthcare Conference, providing efficient access to the companies shaping the future of the rapidly changing healthcare landscape. For more information, visit: www.onemedplace.com/forum/.
About Adeona Pharmaceuticals, Inc.
Adeona is a pharmaceutical company developing innovative medicines for the treatment of serious central nervous system diseases. The Company’s strategy is to license product candidates that have demonstrated a certain level of clinical efficacy and develop them to a stage that results in a significant commercial collaboration. Currently, Adeona is developing the following product candidates: a prescription medical food for Alzheimer’s disease, and drugs for multiple sclerosis, fibromyalgia, rheumatoid arthritis and age-related macular degeneration. For more information, please visit Adeona’s website at www.adeonapharma.com.
SOURCE Adeona Pharmaceuticals, Inc.
MYSTIC, Conn. and DUBLIN, Jan. 6, 2011 /PRNewswire/ — Amarin Corporation plc (Nasdaq: AMRN) (the “Company”), a clinical-stage biopharmaceutical company with a focus on cardiovascular disease, today announced the pricing of an underwritten public offering of 12,000,000 American Depositary Shares (“ADSs”) at a price to the public of $7.60 per ADS. The net proceeds to the Company from this offering are expected to be approximately $87.1 million, after deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on or about January 11, 2011, subject to customary closing conditions.
Jefferies & Company, Inc. and Leerink Swann LLC are acting as joint book-running managers in the offering, and Canaccord Genuity Inc. is acting as co-lead manager for the offering. Amarin has granted the underwriters a 30-day option to purchase up to an aggregate of 1,800,000 additional ADSs solely to cover over-allotments, if any. Amarin anticipates using the net proceeds from the offering to prepare for the commercialization of AMR101, its filing of a New Drug Application and for working capital and general corporate purposes.
The securities described above are being offered by Amarin pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”) on November 23, 2010. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement relating to these securities may be obtained from Equity Syndicate Prospectus Department, Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY, 10022, at 877-547-6340, and at Prospectus_Department@Jefferies.com. This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Amarin
Amarin Corporation plc is a clinical-stage biopharmaceutical company with expertise in lipid science focused on the treatment of cardiovascular disease. The Company’s lead product candidate is AMR101, the active ingredient in which is ethyl-EPA (ethyl icosapentate). On November 29, 2010, the Company reported positive, statistically significant top-line results from the MARINE trial, the first of its Phase 3 clinical trials of AMR101. In the MARINE trial, AMR101 was investigated as a treatment for very high triglycerides (>500 mg/dL). AMR101 is presently being investigated in a second Phase 3 clinical trial, the ANCHOR trial, for the treatment of patients on statin therapy with high triglycerides (≥200 and <500mg/dL) with mixed dyslipidemia. The MARINE trial was, and the ANCHOR trial currently is, conducted under Special Protocol Assessment (SPA) agreements with the U.S. Food and Drug Administration (FDA). Amarin also has next-generation lipid candidates under evaluation for preclinical development.
Investor Contact Information:
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John F. Thero
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President
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In U.S.: +1 (860) 572-4979
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investor.relations@amarincorp.com
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Lee M. Stern
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The Trout Group
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In U.S.: +1 (646) 378-2922
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lstern@troutgroup.com
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Media Contact Information:
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David Schull or Martina Schwarzkopf, Ph.D.
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Russo Partners
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In U.S.: +1 (212) 845-4271 or +1 (212) 845-4292 (office)
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+1 (347) 591-8785 (mobile)
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david.schull@russopartnersllc.com
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martina.schwarzkopf@russopartnersllc.com
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Mark Swallow or David Dible
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Citigate Dewe Rogerson
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In U.K.: +44 (0)207 638 9571
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mark.swallow@citigatedr.co.uk
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Disclosure Notice
This press release contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements related to the Company’s public offering of American Depositary Shares, are forward-looking statements that involve risks and uncertainties. Words such as “intends,” “plans,” “expects,” “may,” “will” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are not promises or guarantees. These forward-looking statements are based upon the Company’s current expectations. Actual events and results and the timing of events and results could differ materially from those anticipated in such forward-looking statements. Among the factors that could cause actual results to differ materially from those described or projected herein are the following: risks related to the underwriters’ consummation of their obligation to purchase the securities, whether the Company will be able to satisfy its obligations to close the offering and the risk that the Company will not use the proceeds from the offering in the manner contemplated, as well as the risks, uncertainties and other matters detailed in the Company’s filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 20-F and the preliminary prospectus supplement relating to the offering and filed on January 5, 2011. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise, except as required by law.
SOURCE Amarin Corporation plc
Jan. 6, 2011 (Business Wire) — 2011 International CES, Booth C9542: Hauppauge Digital, Inc. (NASDAQ: HAUP), the world’s leading developer and manufacturer of TV tuner products for personal computers, today launched its new Colossus internal PCI Express board capable of recording component video and unencrypted HDMI video at up to 1080i from sources such as the Xbox360 and digital SLR cameras.
The latest addition to Hauppauge’s line of high definition video recorders, Colossus is similar to the company’s HD PVR external USB-based H.264 recorder, but offers expanded capability to include HD video recording from the HDMI port on the Xbox360 game console. When connected to an Xbox360, an HDMI cable can be used to record game play at video resolutions up to 1080i. When connected to a Playstation3, game play is recorded using component video at 1080i resolution.
Colossus allows users to make high definition video recordings of their highest-score games and even game tutorials, directly from the game console. Users can record game play in HD and then upload the recording to YouTube or other popular game recording websites. Colossus features pass-through support for component video and digital audio, enabling users to monitor game play on an HD TV set while recording.
When connected to a cable TV or satellite set top box, Colossus users can record TV programs in HD. Colossus includes an IR blaster and the latest WinTV v7 application so that users can schedule a recording and have the Colossus “blast” channel commands to the set top box at the appropriate time.
With Colossus connected to a set top box, a user can record a TV show or a complete TV series in high definition to their PCs hard disk, make HD libraries of favourite TV programs and then playback to the PC screen or burn the recording onto a disk in a high definition Blu-ray™ format.
Colossus is supplied with two applications: the Hauppauge WinTV v7 application for scheduled recording of TV programs from cable TV and satellite set top boxes, and Arcsoft’s ShowBiz, which allows users to record from a game console, trim the beginning and end of video recordings and immediately upload the recordings to YouTube. ShowBiz makes recording video game play and uploading to YouTube with Colossus easy.
SageTV, a software company based in Inglewood, California, has announced support for Colossus in their Windows-based digital video application, SageTV 7.x. SageTV is a popular application providing complete DVR capability on a PC.
Pricing, availability and press pictures
Colossus will have a MSRP of $159 and will be available late January 2011.
Pictures of Colossus can be found here:
http://www.hauppauge.com/site/press/presspictures/colossus_board-cables.png
http://www.hauppauge.com/site/press/press_pictures_hdpvr.html#press_colossus
About Hauppauge
Hauppauge Digital, Inc. (NASDAQ: HAUP) is a leading developer and manufacturer of digital TV and data broadcast receiver products for personal computers. Through its Hauppauge Computer Works, Inc., PCTV Systems Sarl and Hauppauge Digital Europe subsidiaries, the Company designs and develops digital video boards for TV-in-a-window, digital video editing and video conferencing. The Company is headquartered in Hauppauge, New York, with R&D offices in New York, Braunschweig, Germany and Taipei, and administrative offices in New York, Singapore, Taiwan, Ireland and Luxembourg and sales offices in Germany, London, Paris, The Netherlands, Sweden, Italy, Spain, Singapore and California. The Company’s Internet web site can be found at http://www.hauppauge.com. Hauppauge and WinTV are registered trademarks of Hauppauge Computer Works, Inc. Other product or service names herein are the trademarks of their respective owners.

Press Contacts:
Brice Washington
Hauppauge Computer Works
bwashington@hauppauge.com
or
Belinda Rooney
S&S Public Relations
609 750 9110 – office
brooney@sspr.com
Augme Technologies, Inc. offers cutting-edge media marketing platforms that enable the seamless integration of brands, music, video and other content with life through the power of today’s technology. Using Augme Technologies’ intuitive media marketing platforms, companies can quickly create, deploy and measure rich-media, interactive marketing campaigns across all networks and devices.
Augme’s unique services personalize the brand experience by delivering that experience to customers where they work, play and live. Through its three operating divisions, mobile marketing (AD LIFE™), video content delivery (BOOMBOX) and ad network provisioning (AD SERVE™), Augme connects brands and content to consumers in a way that enables companies and their marketing agencies to create new markets and monetize brand interactions.
Augme owns US Patent No. 6,594,691, patent No. 7,269,636, patent No. 7,783,721, and patent No. 7,831,690, which cover a two-code module system that enables any networked, delivered content to be customized based on end-user criteria. These patents cover indispensable distribution and delivery aspects of behavioral targeting advertisements and content delivery over the Internet and related networks and processor platforms. Today’s advanced behavioral targeting would simply not be possible without employing Augme’s intellectual property.
Following an extensive infringement analysis concentrated on the largest players in the business of targeted Web-content delivery, Augme Technology has determined potential infringement by the top six search engine, e-commerce and numerous other companies represent approximately $5 billion in discounted net free cash flow over the life of the patents without any continuations. Augme Technology’s patents are crucial to the facilitation of behavioral targeted ads and content utilized by these organizations.
In a recent press release, Augme Technology forecasted recognizable revenues will exceed $12 million over the next twelve months, based on an estimate that approximately 50% of current bookings will convert into revenues within that time frame. With a solid portfolio of innovative marketing services and the intellectual property in place to protect those services, the company is well positioned for further growth as the market for behavior based advertising continues to grow.
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Jan. 3, 2011 (Business Wire) — Cereplast, Inc. (NASDAQ: CERP), a leading manufacturer of proprietary bio-based, compostable and sustainable plastics, announced today that it has opened its nationwide design competition, “Make Your Mark,” for a symbol that represents “bioplastics.” The symbol will indicate that a product is made from “green,” bio-based material, not petroleum-based material. “Make Your Mark” design entries can be submitted via www.iizuu.com/cereplast, where the official rules and guidelines are also posted. Visit the “About” tab for additional contest details and the “Contest” tab to vote for or to submit a design.
“Cereplast’s competition represents our commitment to educating and helping consumers make smarter purchasing decisions that help preserve and protect our environment,” said Frederic Scheer, Chairman and CEO of Cereplast. “Companies are increasingly looking at bio-based plastics made from renewable resources like corn, wheat, and algae as an alternative to petroleum-sourced plastics in order to meet soaring consumer demand for economically and ecologically sound, ‘green’ products. The bioplastics symbol will enable consumers to easily identify products made from bioplastics, similar to the globally recognized recycling symbol we see on thousands of plastic products.”
The Make Your Mark bioplastics symbol contest is open to legal residents of the United States. Entrants are required to submit a symbol design that, when stamped on a product, will clearly serve as an indication that the product is made from bioplastics. This new symbol will serve in a similar fashion to how the recycling symbol is used to identify products that are made from recycled materials and/or are recyclable.
It is mandatory for the design to have the ability to be “single-color,” or colorless, and easily identifiable. Design submissions need to include three variations to symbolize the end of life options for the product—whether to compost or recycle it. The three variations include: a general bioplastics symbol; a version identifying compostability; and a version indicating recyclability.
The deadline for Make Your Mark design entries is March 4, 2011. The top 50 entries will be determined based on a public voting system available at www.iizuu.com/cereplast. The judges will select the top three designs and the winner will be announced on Earth Day Eve, April 21, 2011, at a gala event in Los Angeles, California, in honor of the internationally celebrated Earth Day. The designer of the winning bioplastics symbol will receive $25,000.
Forty-one years ago, Gary Anderson won the competition that produced the globally recognized recycling symbol we see on recycled and recyclable products today. Mr. Anderson and industrial designer Karim Rashid are among the panel of renowned judges.
Cereplast produces bio-based, compostable and sustainable plastic substitutes that serve as an environmentally safer alternative to petroleum-based plastics. Cereplast creates a wide range of bioplastic resins to meet surging consumer and industrial demand for economically and ecologically sound, “green” products. Made from renewable resources, — corn, wheat, tapioca, potatoes and algae — Cereplast bioplastics replace traditional petroleum-based plastics in the manufacturing of products and packaging.
About Cereplast, Inc.
Cereplast, Inc. (NASDAQ: CERP) designs and manufactures proprietary bio-based, sustainable plastics which are used as substitutes for petroleum-based plastics in all major converting processes – such as injection molding, thermoforming, blow molding and extrusions – at a pricing structure that is competitive with petroleum-based plastics. On the cutting-edge of bio-based plastic material development, Cereplast now offers resins to meet a variety of customer demands. Cereplast Compostables® Resins are ideally suited for single use applications where high bio-based content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables™ Resins combine high bio-based content with the durability and endurance of traditional plastic, making them ideal for applications in industries such as automotive, consumer electronics and packaging. Learn more at www.cereplast.com. You may also visit the Cereplast social networking pages at Facebook.com/Cereplast, Twitter.com/Cereplast and Youtube.com/Cereplastinc.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

Cereplast, Inc.
Nicole Cardi
310-615-1900 x154
ncardi@cereplast.com
or
MKR Group, Inc.
Investor Relations
Charles Messman or Todd Kehrli
323-468-2300
cerp@mkr-group.com
or
Trontz Public Relations
Bari Trontz
212-566-2310
bari@trontzpr.com
SAN JOSE, Calif., Jan. 3, 2011 (GLOBE NEWSWIRE) — OCZ Technology Group, Inc. (Nasdaq:OCZ), a leading provider of high-performance solid-state drives (SSDs) and memory modules for computing devices and systems, will be exhibiting at the 2011 Storage Visions Conference in Las Vegas, Nevada January 4-5 at the Riviera Convention Center.
“Storage Visions represents a great opportunity to meet face to face with customers and key partners within the fast evolving storage space,” said Alex Mei, CMO of OCZ Technology. “At the conference we will be displaying an array of our customizable Deneva enterprise solid state drive products as well as next generation PCIe solutions, and we look forward to exploring the latest storage technology and trends with attendees at this highly targeted event.”
OCZ enterprise SSD products help overcome the performance, durability, and maintenance obstacles inherent to traditional mechanical HDD storage. In addition to the superior design, reliability, and speed, OCZ’s ability to provide a custom solution ensures ultimate compatibility, reliability and cost savings that other SSD lines cannot deliver. Furthermore, Deneva solutions provide superior performance by delivering up to 50,000 IOPS and 285MB/s of bandwidth, and feature world-class reliability features including superior power loss protection, endurance, encryption, and ECC protection in a wide variety of interfaces.
Join OCZ Technology Group at Storage Visions as the Company highlights new solutions designed to increase the advantages of SSDs over traditional hard disc drives for OEMs and enterprise clients who place a premium on performance, reliability, and superior total cost of ownership (TCO).
About OCZ Technology Group, Inc.
Founded in 2002, San Jose, CA-based OCZ Technology Group, Inc. (“OCZ”) is a leader in the design, manufacturing, and distribution of high performance and reliable Solid-State Drives (SSDs) and premium computer components. OCZ has built on its expertise in high-speed memory to become a leader in the SSD market, a technology that competes with traditional rotating magnetic hard disk drives (HDDs). SSDs are faster, more reliable, generate less heat and use significantly less power than the HDDs used in the majority of computers today. In addition to SSD technology, OCZ also offers high performance components for computing devices and systems, including enterprise-class power management products as well as leading-edge computer gaming solutions. For more information, please visit: www.ocztechnology.com.
The OCZ Technology Group, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7439
Forward-Looking Statements Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of OCZ Technology Group, Inc. to be different from those expressed or implied in the forward-looking statements. In this context, words such as “will,” “would,” “expect,” “anticipate,” “should” or other similar words and phrases often identify forward-looking statements made on behalf of OCZ. It is important to note that actual results of OCZ may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, market acceptance of OCZ’s products and OCZ’s ability to continually develop enhanced products; adverse changes both in the general macro-economic environment as well as in the industries OCZ serves, including computer manufacturing, traditional and online retailers, information storage, internet search and content providers and computer system integrators; OCZ’s ability to efficiently manage material and inventory, including integrated circuit chip costs and freight costs; and OCZ’s ability to generate cash from operations, secure external funding for its operations and manage its liquidity needs. Other general economic, business and financing conditions and factors are described in more detail in “Item 1A — Risk Factors” in Part II in OCZ’s Quarterly Report on Form 10-Q filed with the SEC on January 14, 2010. The filing is available both at www.sec.gov as well as via OCZ’s website at www.ocztechnology.com. OCZ does not undertake to update its forward-looking statements.
CONTACT: OCZ Technology Group, Inc.
Bonnie Mott, Investor Relations Manager
408-733-8400
DENVER, Jan. 3, 2011 /PRNewswire/ — Gasco Energy (NYSE Amex: GSX) today confirmed that previously announced changes to its officers and directors became effective as of January 1, 2011.
As part of a previously announced plan of succession, Charles B. Crowell, Gasco’s Chairman of the Board of Directors, retired as chief executive officer effective January 1, 2011. At that time, W. King Grant, the Company’s current president and chief financial officer, was appointed as chief executive officer of Gasco. Mr. Grant also serves as a member of the Board of Directors. Mr. Grant has been an officer of the Company in various positions since July 2001 and has served as a director since September 2010. The rest of the Gasco management team includes Mike Decker, Chief Operating Officer, Chuck Wilson, Vice President-Operations, and Peggy Herald, Vice President and Treasurer, who will serve as Gasco’s principal financial officer.
“The orderly plan of succession is now complete as King assumes the role of Gasco’s CEO,” said Mr. Crowell. “Under King’s leadership and direction, Gasco and its shareholders can expect continued sound management of the Company’s financial position and its assets. The Board would like to reiterate its confidence in his abilities to guide Gasco as we look to capitalize on our California oil projects and on our large Uinta Basin leasehold position.”
“On behalf of the Board of Directors, I would like to thank Chuck for his service in 2010 as CEO of Gasco and for his continued contributions as a valued member of our Board,” said Mr. Grant. “Chuck and I will continue to work together to generate new oilfield opportunities for Gasco, while maintaining the fiscal discipline that is essential to our success. Mike Decker and I plan to improve the Company’s visibility on the Street by actively participating in industry conferences and by interacting with analysts and investors to further the Gasco story in 2011.”
About Gasco Energy
Denver-based Gasco Energy, Inc. is a natural gas and petroleum exploitation, development and production company engaged in locating and developing hydrocarbon resources, primarily in the Rocky Mountain region. Gasco’s principal business is the acquisition of leasehold interests in petroleum and natural gas rights, either directly or indirectly, and the exploitation and development of properties subject to these leases. Gasco currently focuses its activities in the Riverbend Project located in the Uinta Basin of northeastern Utah, targeting the Wasatch, Mesaverde, Blackhawk, Mancos, Dakota and Morrison formations. To learn more, visit http://www.gascoenergy.com.
SOURCE Gasco Energy, Inc.
SALT LAKE CITY, Jan. 3, 2011 /PRNewswire/ — Dynatronics Corporation (Nasdaq: DYNT) today announced a significant milestone with the signing of an agreement with Premier Purchasing Partners, L.P., the group purchasing enterprise of Premier, Inc., naming Dynatronics a contracted supplier of physical therapy products and exercise equipment to Premier’s member group of colleges and universities and alternate market facilities.
Premier, Inc. is one of the nation’s largest healthcare alliances, helping to improve performance and providing group contracting to more than 2,400 U.S. hospitals and 70,000 healthcare sites nationwide. Owned by hospitals, health systems and other providers, Premier, Inc. provides group purchasing and supply chain services to many of the top colleges and universities and healthcare facilities in the country.
“We are thrilled to be named a contract supplier to Premier’s group of colleges and universities,” reported Larry K. Beardall, executive vice president of sales and marketing. “This contract represents an important achievement for Dynatronics’ involvement in the GPO segment of the market. With this door now open, we will begin work immediately to build relationships with, and seek business from, these important Premier clients.”
The three-year agreement with Premier begins March 1, 2011.
“As one of the largest GPOs in the nation, Premier is a critical conduit for providing medical equipment and supplies to the healthcare industry,” stated Kelvyn H. Cullimore, Jr. chairman and president of Dynatronics. “We are honored to be associated with this prestigious organization. This agreement represents a major step forward for Dynatronics and the beginning of what we believe will be a new growth phase for the company. But most importantly, we are anxious to benefit the lives of so many new patients with our physical medicine products.”
About Premier, Inc.
Premier is a performance improvement alliance of more than 2,400 U.S. hospitals and 70,000 healthcare sites using the power of collaboration to lead the transformation to high quality, cost-effective care. Owned by hospitals, health systems and other providers, Premier is headquartered in Charlotte, N.C., with additional offices in San Diego, Philadelphia and Washington. http://www.premierinc.com.
About Dynatronics Corp.
Dynatronics manufactures, markets and distributes advanced-technology medical devices, orthopedic soft goods and supplies, treatment tables and rehabilitation equipment for the physical therapy, sports medicine, chiropractic, podiatry, plastic surgery, dermatology and other related medical, cosmetic and aesthetic markets. More information regarding Dynatronics is available at www.dynatronics.com.
SOURCE Dynatronics Corporation
Jan. 3, 2011 (Business Wire) — BioTime, Inc. (NYSE Amex:BTX) today announced a $4 million equity financing by its subsidiary, Embryome Sciences, Inc. Concurrent with the financing, Embryome Sciences will be renamed ReCyte Therapeutics, Inc. and will develop therapeutic products for cardiovascular and blood diseases. The new equity financing is being led by a $2.5 million investment by private investors and a $1.5 million investment from BioTime that valued ReCyte Therapeutics at a post money valuation of $60 million on a fully diluted basis. ReCyte Therapeutics has also adopted a 4,000,000 share stock option plan for officers, directors, key employees, and key consultants. Following the transaction, BioTime will retain an ownership interest of approximately 95.15% of the outstanding shares of ReCyte Therapeutics.
BioTime expects to consolidate the research product business previously conducted through Embryome Sciences with the research products business conducted by BioTime’s subsidiary ES Cell International Pte Ltd. which already markets other research products such as human embryonic stem cell lines produced under GMP- compliant conditions.
The National Academy of Sciences has estimated that a potential 58 million Americans afflicted with cardiovascular disease and 30 million with autoimmune disorders could potentially benefit from stem cell-based therapies. Combined, this 88 million US target population is one of the largest and fastest growing markets due to the aging of the baby boom population. ReCyte Therapeutics will directly target these markets by utilizing its ReCyte™ technology to reverse the developmental aging of human cells, then to generate embryonic vascular and blood progenitors from the ReCyte cell lines for therapeutic use in age-related vascular and blood disorders such as coronary disease and heart failure. In 2011, ReCyte Therapeutics intends to begin to build a near-term revenue business by offering a service to reverse the developmental aging of human cells, and to generate blood and vascular progenitors, for cell banking purposes. Neither service in the cell banking business is expected to require lengthy FDA approval. With the capital obtained from the current equity financing, ReCyte Therapeutics will also begin preclinical studies to support future clinical trials of this new class of human therapeutics for vascular and blood disorders. These latter therapeutic uses of the cells will require testing and approval by regulatory agencies such as the FDA.
Background:
Human embryonic stem (hES) cells have the potential to generate all human cell types. Because they are isolated at the earliest stages of the development of human life, the clock of cellular aging located in the telomeric region of DNA is set at a youthful state through the activity of the enzyme telomerase. iPS cells are an alternative technology that begins with adult body cells, such as skin cells, that are modified such that they have the powerful properties of hES cells to become any cell type in the body. iPS cells have the advantages that they can be produced from a patient’s own cells in order to prevent transplant rejection. In addition, since iPS cells never involve the use of embryos, they obviate the ethical concerns voiced by some people in regard to the use of hES cells.
On March 16, 2010 BioTime and its collaborators announced the publication of a scientific paper titled “Spontaneous Reversal of Developmental Aging in Normal Human Cells Following Transcriptional Reprogramming.” The article, which was released online in the peer-reviewed journal Regenerative Medicine demonstrated that the aging of human cells can be reversed with potentially significant implications for the development of new classes of iPS cell-based therapies targeting age-related degenerative disease. The on-line version of the article can be found at http://www.futuremedicine.com/doi/abs/10.2217/rme.10.21.
In the article, BioTime and its collaborators demonstrated the successful reversal of the developmental aging of normal human cells. Using precise genetic modifications, normal human cells were induced to reverse both the “clock” of differentiation (the process by which an embryonic stem cell becomes the many specialized differentiated cell types of the body), and the “clock” of cellular aging (telomere length). As a result, the iPS cells became young pluripotent stem cells with the potential of generating young body cell types that may be transplanted into a patient to replace the patient’s damaged or diseased tissues. ReCyte Therapeutics already has licenses for iPS technology, as well as its own proprietary ReCyte™ iPS technology, that it plans to use in this new field of research.
ReCyte Therapeutics plans to develop a manufacturing process for the large scale reprogramming of human skin cells by resetting telomere length and simultaneously resetting the cell’s stage of development to the embryonic state. The object of this aspect of the research and development will be to build a cost-effective manufacturing platform that will be the basis of a cell banking service planned for launch in 2011.
ReCyte Therapeutics will also develop primitive ReCyte™ cell-derived angioblasts and blood stem cells, which are cells believed to be capable of reconstituting and repairing age-related changes in the vascular and blood systems respectively. The young vascular-forming cells (angioblasts) will be tested in preclinical mouse models of accelerated aging to score their safety and efficacy in restoring blood flow in models of ischemia.
“The vascular system has long been regarded as the leading target of interventional gerontology,” said Michael D. West, Ph.D., President and Chief Executive Officer of BioTime, Inc. and ReCyte Therapeutics. “We anticipate that the first-in-class therapies that ReCyte Therapeutics intends to develop using technology based on telomere and stem cell research, may provide important new modalities for treatment of the largest cause of mortality in the United States.”
About BioTime, Inc.
BioTime, headquartered in Alameda, California, is a biotechnology company focused on regenerative medicine and blood plasma volume expanders. Its broad platform of stem cell technologies is developed through subsidiaries focused on specific fields of applications. BioTime develops and markets research products in the field of stem cells and regenerative medicine. BioTime’s wholly owned subsidiary ES Cell International (ESI) has produced clinical-grade human embryonic stem cell lines that were derived following principles of Good Manufacturing Practice and currently offers them along with a wide array of ACTCellerate™ cell lines, culture media, and differentiation kits for use in research. BioTime’s therapeutic product development strategy is pursued through subsidiaries that focus on specific organ systems and related diseases for which there is a high unmet medical need. BioTime’s majority owned subsidiary Cell Cure Neurosciences, Ltd. is developing therapeutic products derived from stem cells for the treatment of retinal and neural degenerative diseases. Cell Cure’s minority shareholder Teva Pharmaceutical Industries has an option to clinically develop and commercialize Cell Cure’s OpRegen™ retinal cell product for use in the treatment of age-related macular degeneration (AMD). BioTime’s subsidiary OrthoCyte Corporation is developing therapeutic applications of stem cells to treat orthopedic diseases and injuries. Another subsidiary, OncoCyte Corporation, focuses on the therapeutic applications of stem cell technology in cancer. ReCyte Therapeutics is developing applications of BioTime’s proprietary iPS cell technology to reverse the developmental aging of human cells for cardiovascular and blood cell aging. In addition to its stem cell products, BioTime develops blood plasma volume expanders, blood replacement solutions for hypothermic (low temperature) surgery, and technology for use in surgery, emergency trauma treatment and other applications. BioTime’s lead product, Hextend®, is a blood plasma volume expander manufactured and distributed in the U.S. by Hospira, Inc. and in South Korea by CJ CheilJedang Corp. under exclusive licensing agreements. Additional information about BioTime, ReCyte Therapeutics, Cell Cure, OrthoCyte, OncoCyte, BioTime Asia, and ESI can be found on the web at www.biotimeinc.com.
Forward-Looking Statements
Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for the company and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the company’s business, particularly those mentioned in the cautionary statements found in the company’s Securities and Exchange Commission filings. The company disclaims any intent or obligation to update these forward-looking statements.
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BioTime, Inc.
Judith Segall, 510-521-3390, ext. 301
jsegall@biotimemail.com