Secure Computing Reports Strong First Quarter 2007 Results

SAN JOSE, Calif., April 26 /PRNewswire-FirstCall/ -- Secure Computing Corporation , a leading enterprise gateway security company, today announced first quarter GAAP revenue of $53.8 million. This represents a 26% increase in revenue compared to $42.6 million in the same quarter last year. First quarter non-GAAP revenue was $60.5 million. This represents a 42% increase compared to the same quarter last year. On a GAAP basis, net loss was $10.6 million or $0.18 per share. First quarter non-GAAP net income was $3.4 million or $0.05 per fully-diluted share. The company generated $12.0 million of cash from operations and reduced the long term debt balance by $12.0 million. Billings for the quarter were $66.3 million, a 67% increase compared to the same quarter last year.

"Our team's solid performance in Q1 was a continuation of the momentum that we built in Q3 and Q4 of last year," said John McNulty, chairman, president and chief executive officer of Secure Computing. "I believe our results over the last three quarters illustrate the strength and synergy of the acquisitions we made last year. Looking ahead, I believe Secure Computing's unique balance of product leadership coupled with a strong worldwide sales organization and a superb reseller channel, positions the company to become the undisputed leader in the enterprise gateway security market."

First Quarter Financial Highlights: * GAAP revenue for the first quarter was $53.8 million. This represents a 26% increase compared to $42.6 million in the same quarter last year and a 4% increase compared to revenue of $51.6 million in the prior quarter. Non-GAAP revenue for the quarter was $60.5 million. This represents a 42% increase compared to the same quarter last year and, as seasonally expected, a 4% decrease compared to non-GAAP revenue of $63.2 million in the prior quarter. * Billings for the first quarter were $66.3 million. This represents a 67% increase compared to $39.6 million in the same quarter last year and, as seasonally expected, a 14% decrease compared to billings of $77.5 million in the prior quarter. * GAAP gross profit in the first quarter was 70% of revenue or $37.7 million. Non-GAAP gross profit in the first quarter was 75% of revenue or $45.4 million. These non-GAAP results compare to 74% of non-GAAP revenue, or $31.6 million, in the year ago quarter and 75% of non-GAAP revenue, or $47.2 million, in the prior quarter. * First quarter GAAP operating expenses were $45.6 million, or 85% of revenue. Non-GAAP operating expenses for the quarter were $39.3 million or 65% of non-GAAP revenue. These non-GAAP results compare to 55% of non-GAAP revenue in the year ago quarter and 61% in the prior quarter. * GAAP operating loss for the first quarter was $7.9 million. First quarter non-GAAP operating income was $6.1 million or 10% of non-GAAP revenue, compared to 20% in the same quarter last year and 14% in the prior quarter. * GAAP net loss for the first quarter was $10.6 million or $0.18 per share. First quarter non-GAAP net income was $3.4 million or $0.05 per fully-diluted share, compared to non-GAAP net income of $8.8 million, or $0.15 per fully diluted share in the same quarter last year. * Deferred revenue increased $8.3 million, or 7%, bringing the total deferred revenue balance to $130.6 million at the end of March. * Days sales outstanding (DSOs) were 92 days. As we have experienced in previous quarters, the change in DSOs correlates to the change in deferred revenue. Excluding the impact of the increase in deferred revenue, DSOs were 78 days. * Cash and restricted cash was $9.3 million at March 31, 2007. Cash generated from operations in the quarter was $12.0 million.

"We experienced overall solid financial performance in the first quarter, which included strong cash flow that allowed us to pay down our debt by $12 million and pay $1.9 million of interest expense," said Tim Steinkopf, senior vice president of operations and chief financial officer. "We believe our solid performance in first quarter coupled with our outlook for the second quarter, highlights that the company's first half is on track with its 2007 financial plan."

Effective January 1, 2007, we adopted FASB Interpretation (FIN) No. 48, "Accounting for Uncertainty in Income Taxes" -- an Interpretation of SFAS No. 109, "Accounting for Income Taxes." Implementation of FIN 48 did not result in a cumulative effect adjustment to retained earnings.

About Secure Computing

Secure Computing , a leading provider of enterprise gateway security, delivers a comprehensive set of solutions that help customers protect their critical Web, email and network assets. Over half of the Fortune 50 and Fortune 500 are part of our more than 20,000 global customers in 106 countries, supported by a worldwide network of more than 2,300 partners. The company is headquartered in San Jose, Calif., and has offices worldwide. For more information, see http://www.securecomputing.com/.

Secure Computing's Outlook Publication Procedures

Secure Computing publishes an Outlook section in its quarterly operating results press release. The company continues its current practice of having corporate representatives meet privately during the quarter with investors, the media, investment analysts and others. At these meetings Secure Computing refers any questions regarding the current outlook back to the quarterly results press release Outlook section. The quarterly results press release, which includes the Outlook section, is available to the public on the company's Web site (http://www.securecomputing.com/). Unless Secure Computing is in a Quiet Period (described below), the public can continue to rely on the Outlook section that is part of this quarterly operating results press release as still being the company's current expectations on matters covered, unless Secure Computing publishes a notice stating otherwise.

From the close of business on June 15, 2007, until publication of a press release regarding the second quarter 2007 operating results, Secure Computing will observe a Quiet Period. During the Quiet Period, the Outlook section and other forward-looking statements contained in this operating results press release as well as in the company's filings with the SEC, should be considered to be historical, speaking as of prior to the Quiet Period only and not subject to update by the company. During the Quiet Period, Secure Computing representatives will not comment concerning the Outlook section or Secure Computing's financial results or expectations.

Current Outlook

The forward-looking statements in this Outlook section are based on current expectations and are subject to risks, uncertainties and assumptions described under the sub-heading "Forward-Looking Statements." Actual results may differ materially from the expectations expressed below.

For the second quarter of 2007 billings are expected to be in the range of $69 to $72 million. On a GAAP basis, revenues are expected to be between $55 and $57 million and GAAP net loss, before the impact of any NOL utilization on tax expense, is expected to be $10.0 to $11.0 million.

On a non-GAAP basis for the second quarter of 2007, revenues are expected to be between $63 and $64 million and non-GAAP income is expected to be between $4.0 and $5.0 million, or $0.05 and $0.06 per fully diluted share assuming a fully diluted weighted average count of approximately 73.5 million.

We expect to generate cash from operations of $5 to $8 million. Forward Looking Statements

This release contains forward-looking statements concerning revenues, aggregate margins, operating expenses and profitability for this and future quarters, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements in this release involve risks and uncertainties that could cause actual results to differ materially from current expectations. In order to meet these projections, the company must continue to obtain new enterprise relationships with major clients and overall demand for its products must continue to grow at current or greater levels. The company also must be able to motivate and retain key employees and staff current and future projects in a cost-effective manner and must effectively control its marketing, research, development and administrative costs, including personnel expenses. There can be no assurance that demand for the company's products will continue at current or greater levels, or that the company will continue to grow revenues, or be profitable. There are also risks that the company's pursuit of providing network security technology might not be successful, or that if successful, it will not materially enhance the company's financial performance; that changes in customer requirements and other general economic and political uncertainties and weaknesses in geographic regions of the world could impact the company's relationship with its customers, partners and alliances; and that delays in product development, competitive pressures or technical difficulties could impact timely delivery of next-generation products; and other risks and uncertainties that are described from time to time in Secure Computing's periodic reports and registration statements filed with the Securities and Exchange Commission. The company specifically disclaims any responsibility for updating these forward-looking statements.

Use of Non-GAAP Financial Measures

Secure Computing provides financial statements that are prepared in accordance with GAAP. In addition, this press release also provides financial measures of results of operations that are not calculated in accordance with GAAP. Our non-GAAP results are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our Management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our historical and prospective financial performance and make operating decisions. Management also believes that these non-GAAP financial measures enhance the investors' ability to evaluate the company's operating results and to compare current operating results to historical operating results. A reconciliation of the GAAP to non-GAAP financial measures for the first quarter, along with the use and economic substance of each non-GAAP financial measure, are provided at the end of this press release.

Condensed Statement of Operations (Unaudited, in thousands, except for per share amounts) Three Months Ended March 31, 2007 2006 Revenues: Products $30,171 $29,175 Services 17,400 13,442 Other (a) 6,201 -- Total revenues 53,772 42,617 Cost of revenues: Products 9,597 8,829 Services 3,485 2,380 Other (a) 1,089 -- Amortization of purchased intangibles 1,931 723 Total cost of revenues 16,102 11,932 Gross profit 37,670 30,685 Operating expenses: Selling and marketing 28,467 15,796 Research and development 10,624 6,924 General and administrative 3,690 3,005 Amortization of purchased intangibles 2,781 1,691 Litigation settlement -- 2,500 45,562 29,916 Operating (loss)/income (7,892) 769 Other (expense)/income (2,290) 540 (Loss)/income before tax (10,182) 1,309 Income tax expense (393) (652) Net (loss)/income (10,575) 657 Preferred stock accretion (914) (813) Charge from beneficial conversion of preferred stock -- (12,603) Net loss applicable to common shareholders $(11,489) $(12,759) Basic and diluted loss per share $(0.18) $(0.25) Weighted average shares outstanding - basic and diluted 65,272 51,705 (a) For certain multiple-element arrangements we are unable to establish vendor specific objective evidence (VSOE) of fair value for the undelivered bundled elements and are therefore unable to allocate the value of the arrangement between Products and Services Revenue and have reported these revenues and corresponding cost of revenues as 'Other'. Condensed Consolidated Balance Sheets (In thousands) March 31, December 31, 2007 2006 Assets Cash and cash equivalents $8,838 $8,249 Restricted cash 479 457 Accounts receivable, net 55,045 63,636 Inventory, net 5,153 4,078 Other current assets 14,365 13,948 Total current assets 83,880 90,368 Property and equipment, net 15,560 14,300 Goodwill 533,111 533,659 Intangibles, net 73,767 78,388 Other assets 8,065 7,413 Total assets $714,383 $724,128 Liabilities and stockholders' equity Accounts payable 11,343 12,442 Accrued payroll 9,639 12,035 Accrued expenses 6,441 6,365 Acquisition reserves 1,081 1,418 Deferred revenue 93,348 86,612 Total current liabilities 121,852 118,872 Acquisition reserves, net of current portion 1,486 1,591 Deferred revenue, net of current portion 37,216 35,671 Deferred tax liability 7,672 7,672 Debt, net of fees 73,169 85,023 Other liabilities 140 --- Total liabilities 241,535 248,829 Convertible preferred stock 66,472 65,558 Stockholders' equity Common stock 658 651 Additional paid-in capital 545,171 538,616 Accumulated deficit (138,738) (127,249) Accumulated other comprehensive loss (715) (2,277) Total stockholders' equity 406,376 409,741 Total liabilities and stockholders' equity $714,383 $724,128 Condensed Consolidated Statement of Cash Flows (Unaudited, in thousands) Three months ended March 31, 2007 2006 Operating activities Net (loss)/income $(10,575) $657 Adjustments to reconcile net (loss)/income from continuing operations to net cash provided by operating activities: Depreciation 1,556 788 Amortization of intangible assets 4,886 2,509 Loss on disposals of property and equipment and intangible assets 28 20 Amortization of debt fees 146 -- Deferred income taxes 42 535 Share-based compensation 3,725 1,674 Changes in operating assets and liabilities, excluding effects of acquisitions: Accounts receivable 8,793 11,128 Inventories (1,075) 336 Other current assets (473) 2,011 Accounts payable (1,114) 3,139 Accrued payroll (2,394) (735) Accrued expenses 216 (1,655) Acquisition reserves (362) (5,471) Deferred revenue 8,605 (3,237) Net cash provided by operating activities 12,004 11,699 Investing activities Purchases of investments, net (16) (3,370) Purchase of property and equipment, net (2,884) (3,837) (Increase)/decrease in intangibles and other assets (917) 1,935 Cash paid for business acquisitions, net of cash acquired -- (69,096) Net cash used for investing activities (3,817) (74,368) Financing activities Proceeds from issuance of preferred stock and warrant, net of fees -- 69,945 Proceeds from issuance of common stock 2,837 4,667 Repayments of term and revolving debt (12,000) -- Excess tax benefits from employee stock options -- 89 Net cash (used for)/provided by financing activities (9,163) 74,701 Effect of exchange rates 1,565 (113) Net increase in cash and cash equivalents 589 11,919 Cash and cash equivalents, beginning of period 8,249 50,039 Cash and cash equivalents, end of period $8,838 $61,958 Reconciliation of Consolidated GAAP Financial Measures to Non-GAAP Financial Measures (Unaudited, in thousands, except per share amounts) Three Months Ended March 31, 2007 2006 NET REVENUES: GAAP net revenues $53,772 $42,617 Fair value adjustment to acquired deferred revenue (A) 3,847 -- VSOE adjustments to bundled product revenue (B) 2,919 -- Non-GAAP net revenues $60,538 $42,617 GROSS PROFIT: GAAP gross profit $37,670 $30,685 Fair value adjustment to acquired deferred revenue (A) 3,847 -- VSOE adjustments to bundled product revenue (B) 1,700 -- Stock-based compensation (C) 288 170 Amortization of purchased intangible assets (D) 1,931 723 Non-GAAP gross profit $45,436 $31,578 OPERATING EXPENSES: GAAP operating expenses $45,562 $29,916 Stock-based compensation (C) (3,437) (1,478) Amortization of purchased intangible assets (D) (2,781) (1,691) One-time expenses and write-offs (E) -- (1,007) Litigation settlement (F) -- (2,500) Non-GAAP operating expenses $39,344 $23,240 OPERATING (LOSS)/INCOME: GAAP operating (loss)/income $(7,892) $769 Fair value adjustment to acquired deferred revenue (A) 3,847 -- VSOE adjustments to bundled product revenue (B) 1,700 -- Stock-based compensation (C) 3,725 1,648 Amortization of purchased intangible assets (D) 4,712 2,414 One-time expenses and write-offs (E) -- 1,007 Litigation settlement (F) -- 2,500 Non-GAAP operating income $6,092 $8,338 NET (LOSS)/INCOME: GAAP net (loss)/income $(10,575) $657 Fair value adjustment to acquired deferred revenue (A) 3,847 -- VSOE adjustments to bundled product revenue (B) 1,700 -- Stock-based compensation (C) 3,725 1,648 Amortization of purchased intangible assets (D) 4,712 2,414 One-time expenses and write-offs (E) -- 1,007 Litigation settlement (F) -- 2,500 Non-cash tax expense (G) -- 535 Non-GAAP net income $3,409 $8,761 WEIGHTED AVERAGE SHARES OUTSTANDING: Weighted average shares outstanding - basic 65,272 51,705 Common stock equivalents (H) 1,202 2,457 Preferred stock as-if converted to common stock 5,840 4,601 Shares used to compute net income per share - diluted 72,314 58,763 Non-GAAP net income per share - diluted (I) $0.05 $0.15 Reconciliation of Projected GAAP Financial Measure to Non-GAAP Financial Measures (Unaudited, in thousands, except per share amounts) Three Months Ended June 30, 2007 REVENUES: GAAP revenue range $55,000 - $57,000 Fair value adjustment to acquired deferred revenue - projected (A) 3,000 VSOE adjustments to bundled product revenue - projected (B) 4,000 Non-GAAP revenue range $63,000 - $64,000 (LOSS)/INCOME BEFORE TAX IMPACT OF NOL UTILIZATION GAAP loss before $(10,000) $(11,000) Fair value adjustment to acquired deferred revenue - projected (A) 3,000 VSOE adjustments to bundled product revenue - projected (B) 4,000 Stock-based compensation - projected (C) 4,000 Amortization of purchased intangibles - projected (D) 5,000 Non-GAAP income $4,000 - $5,000 Shares used to compute income per share 73,500 73,500 Non-GAAP income per share $0.05 $0.06

Our management regularly uses these non-GAAP financial measures internally to understand, manage and evaluate our historical and prospective financial performance and make operating decisions. We believe that presentation of the non-GAAP financial measures presented above is useful to an investors' ability to evaluate the company's operating results from management's perspective and to compare current operating results to historical operating results. Disclosure of these non-GAAP financial measures also facilitates comparisons of our operating performance with the performance of other companies in our industry that supplement their GAAP results with non-GAAP financial measures that are calculated in a similar manner. Our management adjusts for each of the items noted above, for the reasons described below.

(A) Fair value adjustment to acquired deferred revenue. Non-GAAP revenues and gross profit include revenues and costs associated with acquired deferred revenue and deferred costs that were excluded from GAAP revenue and gross profit as a result of purchase accounting adjustments to fair value. In our non-GAAP measures we have included these revenues and costs because we believe they are most reflective of our ongoing operating results and are useful for comparisons to historical operating performance. We further believe the impact of these purchase accounting adjustments will become immaterial in the near-term.

(B) VSOE adjustment to bundled product revenue. GAAP revenue and gross profit is negatively impacted by product billings that were deferred because we were unable to establish VSOE of fair value of the undelivered elements that were sold with the product. Non-GAAP revenues and gross profit presented above have been adjusted to include revenues and gross profits that would have been reported, had we been able to establish VSOE of fair value of the undelivered elements that were sold with those product billings. We believe these adjustments are most reflective of our ongoing operations in the current period and are useful for comparisons to historical operating performance. We further believe the impact of this item on our GAAP revenues and gross profit will become immaterial in the future.

(C) Stock-based compensation. Consists of expenses for employee stock options, restricted stock units, and employee stock purchase plan determined in accordance with SFAS 123(R), which was effective for Secure as of January 1, 2006. We exclude these stock-based compensation expenses when we review our operating performance because they represent compensation expense in the form of equity, rather than cash, and are not indicative of how we view our historical and prospective operational performance. Further, we believe it is useful to investors to understand the impact of the application of SFAS 123(R) to our results of operations. For the three months ended March 31, 2007 and 2006, stock-based compensation was allocated as follows:

Three Months Ended March 31, 2007 2006 Cost of revenues $288 $170 Selling and marketing 1,956 669 Research and development 922 421 General and administrative 559 388 Total stock-based compensation expense $3,725 $1,648

(D) Amortization of purchased intangible assets. The amounts recorded as amortization of purchased intangible assets arise from prior acquisitions and are non-cash in nature. We exclude these expenses when we review our operating performance because we believe, that although these assets contribute to our revenue generating activities, they are inconsistent in amount and frequency and are impacted by the timing and magnitude of our acquisitions. Further, they are not indicative of how we view our operating performance in the period incurred and in comparison to historical and prospective periods. For the three months ended March 31, 2007 and 2006, amortization of purchased intangibles was allocated as follows:

Three Months Ended March 31, 2007 2006 Cost of revenues $1,931 $723 Operating expenses 2,781 1,691 Total amortization of acquired intangible assets $4,712 $2,414

(E) One-time expenses and write-offs. These amounts arise from severance due to acquisition related restructurings, duplicate and one-time integration costs and facility move costs. We exclude these expenses because we believe they are not reflective of how we view our operating performance in the period incurred, are not recurring in nature and are not meaningful in evaluating our operating performance in comparison to historical operating performance. For the three months ended March 31, 2007 and 2006, one-time expenses and write- offs were allocated as follows:

Three Months Ended March 31, 2007 2006 Selling and marketing -- 209 Research and development -- 180 General and administrative -- 618 Total one-time expenses and write-offs $-- $1,007

(F) Litigation settlement. This amount represents the settlement of litigation brought by the landlord of our former Concord, CA office. We exclude this expense in our non-GAAP operating results because we believe it is not reflective of how we view our operating performance in the period incurred and is not recurring in nature.

(G) Non-cash tax expense. These amounts represent the impact from the utilization of purchased net operating loss carry forwards and an increase in the valuation allowance that has been established against our net deferred tax asset. We exclude these expenses because they are non-cash expenses that we believe are not reflective of how we view our operating performance.

(H) Common stock equivalents. Represents the common stock equivalents of stock options and restricted stock outstanding at the end of the reported period.

(I) Preferred stock as-if converted to common stock. Represents the as-if conversion of outstanding preferred shares to common shares at the end of the reported period.

(J) Non-GAAP net income per share. Excludes the impact of preferred stock accretion and a charge for the beneficial conversion of preferred stock.

Material Limitations Associated with Use of Non-GAAP Financial Measures

The non-GAAP financial measures provided in this press release may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Some of the limitations in relying on these non-GAAP measures are:

* Items such as fair value adjustments to acquired deferred revenue and VSOE adjustments to our product revenue, do not generate additional cash and therefore should not be considered in analyzing cash flows. * Items such as one-time expenses and write-offs that are excluded from non-GAAP operating results can have a material impact on cash flows and earnings per share. * The adjustments for items such as stock-based compensation, amortization of acquired intangible assets, and tax impact of NOL utilization, though not directly affecting our cash position, do affect earnings per share. * Other companies may calculate these non-GAAP measures differently than we do, limiting the usefulness of those measures for comparative purposes.

Compensation for Limitations Associated with Use of Non-GAAP Financial Measures

We compensate for the limitations on our use of non-GAAP financial measures by primarily relying on our GAAP results and using non-GAAP financial measures only supplementally. We also provide detailed reconciliations of each non-GAAP financial measure to its most directly comparable GAAP measure within this press release and we encourage investors to carefully review those reconciliations.

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CONTACT: Editorial, Shawn Wolfe, +1-408-979-6165,
shawn_wolfe@securecomputing.com, or Investors, Jane Underwood,
+1-408-979-6186, jane_underwood@securecomputing.com, both of Secure Computing
Corporation

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

CommScope Announces Record First Quarter 2007 Results-- Operating income rises to $64 million and operating margin more than doubles year over year to 14.6%-- Diluted EPS more than doubles year over year to $0.63-- Record first quarter sales of $435 million, up 24% year over year-- Orders of $460 million, up 15% year over year-- CommScope raises 2007 outlook

HICKORY, N.C., April 26 /PRNewswire-FirstCall/ -- CommScope, Inc. , a global leader in infrastructure solutions for communications networks, today announced record first quarter results for the period ended March 31, 2007. The company reported first quarter sales of $435.5 million and net income of $45.9 million, or $0.63 per diluted share.

For the first quarter of 2006, CommScope reported sales of $352.3 million and net income of $12.7 million, or $0.19 per diluted share. The reported first quarter 2006 net income included total after-tax charges of $2.4 million related to restructuring costs. Excluding this special item, adjusted earnings were $15.2 million, or $0.22 per diluted share.

"We are excited to start 2007 with record first quarter results that exceeded expectations," said Frank M. Drendel, CommScope Chairman and Chief Executive Officer. "We delivered solid top-line growth in every business segment while improving operating performance. The global manufacturing initiatives, which were implemented throughout 2006, made a significant contribution to our bottom line. These major restructurings at key facilities around the globe, higher sales volume and lower than expected commodity costs drove our record first quarter performance. We have also raised calendar year 2007 financial guidance to reflect our positive outlook.

"Leading global companies are placing great demands on their communications networks. We strive to provide our customers with solutions that are part of the essential fabric for higher-bandwidth networks of the future," stated Drendel. "We believe that our momentum remains strong as we execute this strategy and build upon CommScope's unique position in the 'last mile' of telecommunications."

Sales Overview

Sales for the first quarter of 2007 increased 23.6% year over year, primarily driven by increased customer demand in all segments and price increases implemented during 2006 in response to higher raw material costs. The company experienced particularly strong sales growth in the Carrier segment. Below is a sales summary:

Sales by Segment First Fourth First ($ in millions) Quarter Quarter Quarter % Change 2007 2006 2006 YOY Sequential Enterprise $ 200.9 $ 187.5 $ 172.1 16.7% 7.1% Broadband 148.1 144.0 125.9 17.6% 2.8% Carrier 87.1 62.4 54.7 59.2% 39.6% Inter-segment eliminations (0.6) (0.2) (0.4) Total CommScope Net Sales $ 435.5 $ 393.7 $ 352.3 23.6% 10.6%

Enterprise segment sales rose 16.7% year over year to $200.9 million, primarily due to higher sales volume, price increases implemented in 2006 in response to increases in raw material costs and the continued success of new products like the innovative iPatch(R) Real Time Infrastructure Management System. Enterprise sales growth was strongest year over year in the European, Middle Eastern and African (EMEA) and North American (NAR) regions.

Broadband segment sales rose to $148.1 million, up 17.6% year over year primarily due to price increases implemented in the first half of 2006, higher sales volume and the positive impact of a product line acquisition completed in March 2006. Broadband sales grew as cable operators invested in their networks to support the "triple play" of video, data and voice services. Broadband sales growth was strongest year over year in the Central and Latin American (CALA) and NAR regions.

Carrier segment sales increased 59.2% year over year to $87.1 million. The outstanding year-over-year and sequential growth is primarily due to a significant increase in activity as large domestic wireline carriers deploy broadband services to their customers. As previously mentioned, the Carrier segment has been CommScope's fastest growing yet most volatile segment.

Total international sales for the first quarter of 2007 rose 19.4% year over year to $128.0 million, or approximately 29.4% of total company sales.

External orders booked in the first quarter of 2007 were $459.6 million, up 14.8% from the year-ago quarter.

Other First Quarter Highlights -- In the first quarter of 2007, CommScope announced a definitive agreement to acquire substantially all the assets and assume certain liabilities of Signal Vision, Inc., a leading supplier of broadband radio frequency subscriber products. Signal Vision's product lines include passives, indoor amplifiers and addressable taps. The transaction, which is subject to due diligence and customary closing conditions, is expected to close in the second quarter of 2007. -- CommScope announced that it had more than doubled its year-over-year shipments of Extremeflex(R) 50-ohm aluminum cable products for wireless transmission systems. Some key advantages of the Extremeflex aluminum solution include improved flexibility, lighter tower load and lower life cycle costs. Extremeflex aluminum products have been accepted by major domestic carriers as well as international carriers in every major region of the world. -- CommScope also introduced a new line of universal connectors and tools for wireless transmission systems. CommScope's EZfit-Series(TM) connectors and tools are engineered to fit both smooth-wall and traditional corrugated line cables. The company expects its new connectors and tools to provide lower connector insertion loss and improved return loss for higher-performance cable systems. -- Gross margin for the first quarter of 2007 was 30.3%, up 620 basis points year over year. The gross margin improvements were primarily due to higher sales volume, favorable mix and the positive impact of operating efficiencies resulting from the company's global manufacturing initiatives. -- SG&A for the first quarter of 2007 was $59.7 million or 13.7% of sales, compared to $54.2 million or 15.4% of sales in the year-ago quarter. SG&A declined as a percentage of sales primarily due to higher sales levels. -- First quarter 2007 results include $2.6 million of pretax, equity-based compensation expense, compared to $1.0 million in the year-ago quarter. -- Operating income for the first quarter of 2007 was $63.7 million, or 14.6% of sales. In the year-ago quarter, operating income was $19.3 million, or 5.5% of sales. Excluding restructuring cost, operating income would have been $23.1 million, or 6.6% of sales, for the year- ago quarter. -- Total depreciation and amortization expense was $12.4 million for the first quarter of 2007. -- Net cash provided by operating activities in the first quarter of 2007 was $10.7 million. Capital spending in the quarter was $4.1 million. Outlook

CommScope management provided the following guidance for the second quarter and calendar year 2007:

Second Quarter 2007 -- For the second quarter of 2007, revenue is expected to be $490 - $510 million and operating margin is expected to be 14.5% - 15.5%, excluding special items. -- The effective tax rate is expected to be 30% - 34%. Calendar Year 2007 -- For calendar year 2007, the company has increased its revenue and operating margin guidance. CommScope now expects revenue in the range of $1.84 - $1.89 billion and operating margin of 13.5% - 14.5%, excluding special items. -- The effective tax rate is expected to be 30% - 34%.

The company's previous calendar year 2007 guidance was sales of $1.72- $1.76 billion and operating margin around the 12% level, excluding special items.

"We are pleased with the strong start in our 2007 financial performance and our improved calendar year outlook," said Jearld L. Leonhardt, Executive Vice President and Chief Financial Officer. "We expect operating margin in the second half of 2007 to be lower than the first half of the year primarily due to increasing raw material costs and a cautious view of the historically volatile Carrier segment."

Conference Call Information

CommScope plans to host a call today at 5:00 p.m. EDT to discuss first quarter results. You are invited to listen to the conference call or live webcast with Frank Drendel, Chairman and CEO; Brian Garrett, President and COO; and Jearld Leonhardt, Executive Vice President and CFO.

To participate on the conference call, domestic and international callers should dial +1-415-537-1802. Please plan to dial in 10-15 minutes before the start of the call to facilitate a timely connection. The live, listen-only audio of the conference call will be available through a link on the "Events/Presentations" tab of the Investor Relations section of CommScope's website at http://www.commscope.com/.

If you are unable to participate on the call and would like to hear a replay, you may dial 800-633-8284. International callers should dial +1-402-977-9140 for the replay. The replay ID is 21336728 and it will be available through Thursday, May 3. A webcast replay will also be archived on CommScope's website for a limited period of time following the conference call.

About CommScope

CommScope (http://www.commscope.com/) is a world leader in infrastructure solutions for communication networks. Through its SYSTIMAX(R) Solutions(TM) and Uniprise(R) Solutions brands, CommScope is the global leader in structured cabling systems for business enterprise applications. It is also the world's largest manufacturer of coaxial cable for Hybrid Fiber Coaxial applications. Backed by strong research and development, CommScope combines technical expertise and proprietary technology with global manufacturing capability to provide customers with high-performance wired or wireless cabling solutions.

Forward-Looking Statements

This press release contains forward-looking statements regarding, among other things, the business position, plans, outlook, revenues, margins, earnings, global manufacturing initiatives, acquisitions, synergies and other financial items relating to CommScope that are based on information currently available to management, management's beliefs and a number of assumptions concerning future events. These forward-looking statements are identified by the use of certain terms and phrases, including but not limited to "intend," "goal," "estimate," "expect," "project," "plans," "anticipate," "should," "designed to," "foreseeable future," "believe," "think," "scheduled," "outlook," "guidance" and similar expressions. Forward-looking statements are not a guarantee of performance and are subject to a number of risks, uncertainties and other factors that could cause the actual results to differ materially from those currently expected. Factors that could cause actual results of CommScope to differ materially include, but are not limited to, customer demand for our products and the ability to maintain existing business alliances with key customers or distributors; volatility in raw material costs and the effect of related price changes; changes in the technology deployed by cable television or other telecommunication companies; the risk that customers might cancel orders placed or that orders currently placed may reduce orders in the future; the risk that our internal production capacity and that of our contract manufacturers may be insufficient to meet customer demand for our products; continuing consolidation among our customers; competitive pricing and acceptance of our products; industry competition and the ability to retain customers through product innovation; possible production disruption due to supplier or contract manufacturer bankruptcy, reorganization or restructuring; successful ongoing operation of our vertical integration activities; the possibility of further restructuring actions; the timing, completion, integration and realization of expected synergies related to the pending acquisition of the assets of Signal Vision, Inc. and our ability to realize anticipated benefits from prior or future acquisitions; possible future impairment charges for fixed or intangible assets; increased obligations under employee benefit plans; ability to achieve expected sales and operating income goals; costs of protecting or defending our intellectual property; ability to obtain capital on commercially reasonable terms; adequacy and availability of insurance; costs and challenges of compliance with domestic and foreign environmental laws; variability in expected tax rate and ability to recover amounts recorded as value added tax receivables; product performance issues and associated warranty claims; ability to successfully implement major systems initiatives; regulatory changes affecting us or the industries we serve; authoritative changes in generally accepted accounting principles by standard-setting bodies; environmental remediation issues; terrorist activity or armed conflict; political instability; major health concerns; and any statements of belief and any statements of assumptions underlying any of the foregoing. For a more complete description of factors that could cause such a difference, please see CommScope's filings with the Securities and Exchange Commission, which are available on CommScope's website or at http://www.sec.gov/. In providing forward-looking statements, the company does not intend, and is not undertaking any duty or obligation, to update these statements as a result of new information, future events or otherwise.

CommScope, Inc. Condensed Consolidated Statements of Operations (Unaudited -- In thousands, except per share amounts) Three Months Ended March 31, 2007 2006 Net sales $ 435,452 $ 352,254 Operating costs and expenses: Cost of sales 303,508 267,515 Selling, general and administrative 59,682 54,177 Research and development 7,869 7,465 Restructuring costs 729 3,749 Total operating costs and expenses 371,788 332,906 Operating income 63,664 19,348 Other income (expense), net 169 638 Interest expense (1,893) (1,985) Interest income 4,496 2,053 Income before income taxes 66,436 20,054 Income tax expense (20,581) (7,327) Net income $ 45,855 $ 12,727 Net income per share: Basic $ 0.76 $ 0.22 Assuming dilution (a) $ 0.63 $ 0.19 Weighted average shares outstanding: Basic 60,247 56,724 Assuming dilution (a) 73,632 70,667 (a) Calculation of net income per share, assuming dilution: Net income (basic) $ 45,855 $ 12,727 Convertible debt add-back (b) 629 629 Numerator (assuming dilution) $ 46,484 $ 13,356 Weighted average shares (basic) 60,247 56,724 Dilutive effect of: Stock options (c) 1,534 2,373 Phantom stock, restricted stock and performance units 357 76 Convertible debt (b) 11,494 11,494 Denominator (assuming dilution) 73,632 70,667 (b) In March 2004, the Company issued $250 million of 1% convertible senior subordinated debentures, which are convertible into shares of common stock at a conversion rate of 45.9770 shares per $1,000 principal amount representing a conversion price of $21.75 per share. These debentures are convertible into shares of CommScope common stock under specific circumstances as described in the Company's Form 10-K for the year ended December 31, 2004. (c) Options to purchase approximately 0.5 million and 0.6 million common shares were excluded from the computation of net income per share, assuming dilution, for the three months ended March 31, 2007 and March 31, 2006, respectively, because they would have been antidilutive. CommScope, Inc. Condensed Consolidated Balance Sheets (Unaudited -- In thousands, except share amounts) March 31, December 31, 2007 2006 Assets Cash and cash equivalents $ 296,686 $ 276,042 Short-term investments 163,082 151,868 Total cash, cash equivalents and short-term investments 459,768 427,910 Accounts receivable, less allowance for doubtful accounts of $13,017 and $13,461, respectively 230,292 186,824 Inventories 168,473 153,596 Prepaid expenses and other current assets 12,647 14,914 Deferred income taxes 27,312 24,556 Total current assets 898,492 807,800 Property, plant and equipment, net 237,788 242,012 Goodwill 151,381 151,378 Other intangibles, net 62,761 63,967 Deferred income taxes 13,762 15,493 Other assets 21,893 21,823 Total Assets $ 1,386,077 $ 1,302,473 Liabilities and Stockholders' Equity Accounts payable $ 82,223 $ 74,927 Other accrued liabilities 91,409 95,316 Current portion of long-term debt 23,800 13,000 Total current liabilities 197,432 183,243 Long-term debt 257,050 271,100 Pension and postretirement benefit liabilities 92,634 89,995 Other noncurrent liabilities 27,797 19,031 Total Liabilities 574,913 563,369 Commitments and contingencies Stockholders' Equity: Preferred stock, $.01 par value; Authorized shares: 20,000,000; Issued and outstanding shares: None at March 31, 2007 and December 31, 2006 -- -- Common stock, $.01 par value; Authorized shares: 300,000,000; Issued shares, including treasury stock: 71,138,199 at March 31, 2007 and 69,934,533 at December 31, 2006; Issued and outstanding shares: 60,938,199 at March 31, 2007 and 59,734,533 at December 31, 2006 711 699 Additional paid-in capital 563,161 532,344 Retained earnings 386,621 346,821 Accumulated other comprehensive loss 6,206 4,775 Treasury stock, at cost: 10,200,000 shares at March 31, 2007 and December 31, 2006 (145,535) (145,535) Total Stockholders' Equity 811,164 739,104 Total Liabilities and Stockholders' Equity $ 1,386,077 $ 1,302,473 CommScope, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited -- In thousands) Three Months Ended March 31, 2007 2006 Operating Activities: Net income $ 45,855 $ 12,727 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 12,372 14,216 Equity-based compensation 2,641 1,020 Deferred income taxes (4,855) 1,614 Changes in assets and liabilities (45,332) (47,969) Net cash provided by (used in) operating activities 10,681 (18,393) Investing Activities: Additions to property, plant and equipment (4,077) (6,762) Net purchases of short-term investments (11,214) (6,645) Proceeds from disposal of fixed assets 85 297 Acquisition of MC2 product line -- (13,810) Net cash used in investing activities (15,206) (26,920) Financing Activities: Principal payments on long-term debt (3,250) (3,250) Proceeds from the issuance of shares under equity-based compensation plans 19,295 27,670 Tax benefit from the issuance of shares under equity-based compensation plans 8,893 7,143 Net cash provided by financing activities 24,938 31,563 Effect of exchange rate changes on cash 231 427 Change in cash and cash equivalents 20,644 (13,323) Cash and cash equivalents, beginning of period 276,042 146,549 Cash and cash equivalents, end of period $ 296,686 $ 133,226 CommScope, Inc. Sales and Operating Income by Reportable Segment (Unaudited -- In millions) Three Months Ended March 31, 2007 2006 Net Sales: Enterprise $ 200.9 $ 172.1 Broadband 148.1 125.9 Carrier 87.1 54.7 Inter-segment eliminations (0.6) (0.4) Consolidated Net Sales $ 435.5 $ 352.3 Operating Income: Enterprise $ 29.5 $ 11.3 Broadband 21.6 8.0 Carrier 12.6 -- Consolidated Operating Income $ 63.7 $ 19.3

CommScope, Inc.

CONTACT: Phil Armstrong, Investor Relations of CommScope, Inc.,
+1-828-323-4848

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

Color Kinetics Reports Financial Results for First Quarter 2007Net income increases nearly seven-fold year over year to $1.5 million

BOSTON, April 26 /PRNewswire-FirstCall/ -- Color Kinetics Incorporated , a leading innovator of LED lighting systems and technologies, today announced its results of operations for the first quarter of 2007. Revenues were a record $18.8 million, an increase of 28% from the $14.7 million reported in the first quarter of 2006. GAAP net income was $1.5 million or $0.07 per fully diluted share, up 697% over net income of $188,000 or $0.01 per fully diluted share in the first quarter of 2006. Non-GAAP net income for the first quarter was $2.3 million or $0.10 per fully diluted share prior to non-cash FAS 123R stock-based compensation charges of $814,000.

"We're very pleased to mark the start of our 10th year in business with another strong operational performance, reflecting continued revenue growth across multiple regions, strong margins, substantial momentum in licensing, and a rate of new intelligent LED lighting installations that we believe outpaces any other player," said Bill Sims, President and CEO, Color Kinetics.

"The public's attention to lighting has perhaps never been greater, particularly with recent headlines and efforts to curb its contribution to energy strain. While LED technology has the potential to ultimately leapfrog conventional sources as the energy-efficient choice of the future, our success in the market points to the many other advantages that LED systems already deliver today; from reduced maintenance and longer lifespan to advanced digital control for both existing and entirely new lighting applications," said Sims. "As LEDs continue their progression towards the mainstream, we believe that our head-start in the field and accumulation of knowledge, experience, technology and IP put Color Kinetics in an excellent position to remain a category leader."

First quarter highlights include: * 30% growth in Lighting Systems revenues year over year * Strong gross margins at 55% * A quarterly record of 12 new licensing agreements signed, including Ford Motor Company, and 88% increase in licensing revenues year over year * A quarterly record of 7 new patents issued * Inclusion among Forbes' Top 25 Technology Growth Companies for the second consecutive year

For the second quarter of 2007, the company currently targets revenues within the range of $20.2 million to $21.2 million, with GAAP net income of $0.05 to $0.07 per fully diluted share. Non-GAAP net income, excluding FAS 123R stock compensation, is expected to be between $0.09 and $0.11 per fully diluted share.

Color Kinetics will host a conference call to review its first quarter results after the close of market today. The conference call may be accessed by dial-in number or via the Internet as follows:

4:30 pm ET Domestic dial-in number: 800-299-0148 International dial-in number: 617-801-9711 Passcode: 66518986 Webcast: http://phx.corporate-ir.net/phoenix.zhtml?c=178448&p=irol-irhome

A dial-in replay of the conference call will be available from 6:30 pm ET today through May 3 at 888-286-8010 (domestic), 617-801-6888 (international), passcode: 56100710. The webcast will be archived and available for one year via the Investor Relations section of Color Kinetics' website.

About Color Kinetics

Celebrating its 10th anniversary this year, Color Kinetics Incorporated transforms environments through new, dynamic uses of light. Its award-winning lighting systems and technologies apply the benefits of LEDs as a highly efficient, long lasting, environmentally friendly, and inherently digital source of illumination - reinventing light itself as a highly controllable medium. Color Kinetics also enables widespread adoption of LED lighting through OEM and licensing partnerships in diverse markets. The company is headquartered in Boston, MA with offices in the UK and China. More information is available at http://www.colorkinetics.com/.

Color Kinetics is a registered trademark and the Color Kinetics logo is a trademark of Color Kinetics Incorporated. All other trademarks mentioned are the property of their respective owners.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Color Kinetics Incorporated's business that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements involve risks and uncertainties, are only predictions and may differ materially from actual future events and results. For a discussion of such risks and uncertainties, see "Risk Factors" in the Company's Annual Report on Form 10-K for the Twelve Months Ended December 31, 2006, File Number 000-50798, and most recent 10-Q, each as filed with the Securities and Exchange Commission.

Color Kinetics Incorporated and Subsidiaries Consolidated Balance Sheets (In thousands, except per share data) March 31, December 31, 2007 2006 ASSETS CURRENT ASSETS: Cash and equivalents $44,522 $60,997 Investments 56,882 38,985 Restricted cash 500 500 Accounts receivable, net 12,755 11,480 Accounts receivable from related party - 82 Inventory 8,963 6,805 Prepaid expenses and other current assets 2,003 3,159 Total current assets 125,625 122,008 PROPERTY AND EQUIPMENT-net 2,592 2,199 INTANGIBLE ASSETS-net 278 282 RESTRICTED CASH-Non-current portion 464 - TOTAL ASSETS $ 128,959 $ 124,489 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $5,354 $3,690 Accrued expenses 2,347 2,238 Accrued compensation 1,999 3,073 Accrued warranty 986 1,007 Accrued restructuring 152 243 Deferred revenue 1,464 195 Total current liabilities 12,302 10,446 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY: Common stock, $0.001 par value 21 21 Additional paid-in capital 141,609 140,498 Accumulated other comprehensive loss (107) (112) Accumulated deficit (24,866) (26,364) Total stockholders' equity 116,657 114,043 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $128,959 $124,489 Color Kinetics Incorporated Consolidated Statements of Income (In thousands, except per share data) Three Months Ended March 31, 2007 GAAP SFAS 123R Non-GAAP REVENUES: Lighting systems $16,966 $16,966 OEM and licensing 1,818 1,818 Total revenues 18,784 18,784 COST OF REVENUES: Lighting systems 7,885 $(30) 7,855 OEM and licensing 553 - 553 Total cost of revenues 8,438 (30) 8,408 GROSS PROFIT 10,346 30 10,376 OPERATING EXPENSES: Selling and marketing 4,561 (207) 4,354 Research and development 2,286 (149) 2,137 General and administrative 3,264 (428) 2,836 Total operating expenses 10,111 (784) 9,327 INCOME FROM OPERATIONS 235 814 1,049 INTEREST INCOME 1,263 - 1,263 EQUITY IN EARNINGS OF JOINT - VENTURE - - NET INCOME $1,498 $814 $2,312 EARNINGS PER SHARE: Basic $0.07 $0.04 $0.11 Diluted $0.07 $0.04 $0.10 WEIGHTED AVERAGE SHARES OUTSTANDING: Basic 21,312 21,312 21,312 Diluted 22,209 22,209 22,209 Three Months Ended March 31, 2006 GAAP SFAS 123R Non-GAAP REVENUES: Lighting systems $13,098 $13,098 OEM and licensing 1,560 1,560 Total revenues 14,658 14,658 COST OF REVENUES: Lighting systems 6,099 $(19) 6,080 OEM and licensing 540 - 540 Total cost of revenues 6,639 (19) 6,620 GROSS PROFIT 8,019 19 8,038 OPERATING EXPENSES: Selling and marketing 3,755 (116) 3,639 Research and development 1,604 (124) 1,480 General and administrative 3,091 (282) 2,809 Total operating expenses 8,450 (522) 7,928 INCOME FROM OPERATIONS (431) 541 110 INTEREST INCOME 562 - 562 EQUITY IN EARNINGS OF JOINT VENTURE 57 - 57 NET INCOME $188 $541 $729 EARNINGS PER SHARE: Basic $0.01 $0.03 $0.04 Diluted $0.01 $0.03 $0.04 WEIGHTED AVERAGE SHARES OUTSTANDING: Basic 18,410 18,410 18,410 Diluted 19,946 19,946 19,946 Color Kinetics Incorporated and Subsidiaries Consolidated Statements of Cash Flows (In thousands) Three Months Ended March 31, 2007 2006 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $1,498 $188 Adjustments to reconcile net income to cash from operating activities: Depreciation and amortization 354 247 Stock-based compensation 821 547 Equity in earnings of joint venture - (57) Common stock issued for services 13 23 Changes in assets and liabilities: Accounts receivable (1,193) (761) Inventory (2,158) 380 Prepaid expenses and other current assets 1,156 (1,233) Accounts payable 1,664 688 Accrued expenses (986) (787) Deferred revenue 1,269 24 Accrued restructuring (91) (95) Cash flows from operating activities 2,347 (836) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of investments (35,057) (6,768) Maturities of investments 17,164 - Purchases of property and equipment (742) (444) Purchase of patent - (300) Restricted cash (464) 500 Cash flows from investing activities (19,099) (7,012) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from the exercise of stock options 139 179 Proceeds from issuance of common stock under the employee stock purchase plan 137 132 Cash flows from financing activities 276 311 EFFECT OF EXCHANGE RATE CHANGES ON CASH 1 (2) DECREASE IN CASH AND EQUIVALENTS (16,475) (7,539) CASH AND EQUIVALENTS-Beginning of period 60,997 43,032 CASH AND EQUIVALENTS-End of period $44,522 $35,493

Color Kinetics Incorporated

CONTACT: Felicia Spagnoli, Media Relations, +1-617-701-2292,
fspagnoli@colorkinetics.com, or Justine Alonzo, Investor Relations,
+1-617-701-2272, jalonzo@colorkinetics.com, both of Color Kinetics
Incorporated

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

Sono-Tek Corp. Presents at a Leading International Nanotechnology Food and Agriculture Conference

MILTON, N.Y., April 26 /PRNewswire-FirstCall/ -- Sono-Tek Corporation (BULLETIN BOARD: SOTK) announced today that Dr. Joseph Riemer, VP of Engineering of Sono-Tek Corp. presented on April 23, 2007, at the Campden & Corleywood Food Research Association (CCFRA, UK) "Nanotechnology Food and Agriculture" workshop, Sono-Tek's unique capabilities in ultrasonic spray coatings, used for direct food contact and packaging films applications.

The objective of CCFRA's workshops is to present available and developing technologies, demonstrations and discussions of food industry needs and technical options in the newly emerging field of nanotechnology.

Included in Dr. Riemer's presentation were examples of successfully demonstrated ultrasonic spraying applications such as nutriceutical coatings, baked goods coatings, uniform spraying of sterilants on aseptic packaging surfaces, and coating of nano clay particles onto biodegradable food packaging films.

The benefits of these applications for food manufacturers are: -- Introducing new food products -- Cost-of-Goods savings -- Enhancing energy efficiency and environmental friendliness

The nanotechnology workshop was attended by representatives of Europe's leading food manufacturing companies, research institutes and universities as well as regulatory and trade associations representatives.

"We are pleased to be invited to present at this prestigious crossroads of business and technology," said Dr. Christopher L. Coccio, President & CEO of Sono-Tek Corp. "Our unique capabilities in ultrasonic atomization are now an enabler for the food industry to, benefit from the progress in the field of nano materials," Dr. Coccio added.

For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or visit our website at http://www.sono-tek.com/

Sono-Tek Corporation is a leading developer and manufacturer of liquid spray products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company's products have long been recognized for their performance, quality and reliability.

This press release contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These factors include, among other considerations, general economic and business conditions; political, regulatory, competitive and technological developments affecting the Company's operations or the demand for its products; timely development and market acceptance of new products; adequacy of financing; capacity additions and the ability to enforce patents. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-KSB and Form 10-QSBs containing additional important information.

Sono-Tek Corporation

CONTACT: Dr. Christopher L. Coccio of Sono-Tek Corporation,
+1-845-795-2020

Web site: http://www.sono-tek.com/

NETGEAR(R) Reports First Quarter 2007 Results* First quarter 2007 net revenue increased to $173.6 million, 36% year-over-year growth* First quarter 2007 non-GAAP net income increased to $15.6 million, as compared to $10.5 million in the comparable prior year quarter, 49% year-over-year-growth* First quarter 2007 non-GAAP diluted earnings per share of $0.44, as compared to $0.31 in the prior year quarter, 42% year-over-year growth* Company expects second quarter 2007 net revenue to be in the range of $165 million to $170 million, with non-GAAP operating margin in the range of 11% to 12%

SANTA CLARA, Calif., April 26 /PRNewswire-FirstCall/ -- NETGEAR, Inc. , a worldwide provider of technologically advanced, branded networking products, today reported financial results for the first quarter ended April 1, 2007.

Net revenue for the first quarter ended April 1, 2007 was $173.6 million, a 36% increase as compared to $127.3 million for the first quarter ended April 2, 2006, and an increase of 6% as compared to $164.0 million in the fourth quarter of 2006. Net income, computed in accordance with GAAP, for the first quarter of 2007 was $14.0 million, or $0.40 per diluted share. This net income was an increase of 41% compared to net income of $9.9 million for the first quarter of 2006 and an increase of 4% compared to net income of $13.4 million in the fourth quarter of 2006. Diluted earnings per share, computed in accordance with GAAP, was $0.29 for the first quarter of 2006 and $0.38 for the fourth quarter of 2006.

Gross margin on a non-GAAP basis in the first quarter of 2007 was 34.7%, as compared to 35.1% in the year ago comparable quarter, and 32.5% in the fourth quarter of 2006. Non-GAAP operating margin was 12.3% in the first quarter of 2007, as compared to 12.4% in the first quarter of 2006, and 11.6% in the fourth quarter of 2006. In the first quarter of 2007, non-GAAP operating expenses were 22.4% of net revenue, as compared to 22.7% in the year ago comparable quarter, and 20.9% in the prior quarter.

Net income on a non-GAAP basis for the first quarter of 2007 was $15.6 million, a 49% increase compared to non-GAAP net income of $10.5 million for the first quarter of 2006, and a 5% increase compared to non-GAAP net income of $14.9 million for the fourth quarter of 2006. Non-GAAP net income for the first quarter of 2007 excludes $254,000 of adjustments related to amortization of purchased intangibles and retention bonuses, net of taxes, related to the SkipJam acquisition, which closed on August 1, 2006. Retention bonuses of $1.4 million are not included in the purchase price allocation, but are period costs that will be charged to the statement of operations as incurred over a two-year period from the date of the acquisition. As these costs are not part of normal operations of NETGEAR, they are excluded from the non-GAAP statement of operations. Non-GAAP net income for the first quarter of 2007 also excludes non-cash, stock-based compensation, net of tax, of $1.3 million. Non-GAAP net income for the first quarter of 2006 excludes non-cash, stock-based compensation, net of tax, of $672,000. Non-GAAP net income for the fourth quarter of 2006 excludes $278,000 of adjustments related to amortization of purchased intangibles and retention bonuses, net of taxes, related to the SkipJam acquisition. Non-GAAP net income for the fourth quarter of 2006 also excludes non-cash, stock-based compensation, net of tax, of $1.2 million. Non- GAAP net income was $0.44 per diluted share in the first quarter of 2007, compared to $0.31 per diluted share in the first quarter of 2006 and $0.43 per diluted share in the fourth quarter of 2006. The accompanying schedules provide a reconciliation of net income computed on a GAAP basis to net income computed on a non-GAAP basis.

Patrick Lo, Chairman and Chief Executive Officer of NETGEAR, commented, "Revenue in the first quarter came in above guidance due to continued momentum across all channels. Product wise, there was good uptake on our RangeMax NEXT draft 11n products and ProSafe(R) Smart Switches. The market acceptance of our industry leading stackable Gigabit Smart Switches introduced in the prior fourth quarter is very encouraging. Among the 12 new products introduced in the first quarter of 2007, notable launches included the Digital Entertainer HD, the ProSafe Gigabit Power over Ethernet Smart Switches, and the channel bonding 100Mbps cable modems, which enabled us to penetrate the Japanese and Korean cable operator markets. We made initial shipments of these modems to Akita Cable in Japan and Qrix Cable in Korea. Revenue from service providers accounted for approximately 21% of total revenue in the first quarter of 2007 as compared to 28% of total revenue in the fourth quarter of 2006, and 9% in the first quarter of 2006."

Christine Gorjanc, Chief Accounting Officer of NETGEAR, said, "We ended the first quarter 2007 with inventory at $68.4 million, compared to $77.9 million at the end of the fourth quarter 2006, and $44.9 million at the end of first quarter 2006. Ending inventory turns were 6.6, compared to 5.7 at the end of the fourth quarter 2006, and 7.4 at the end of the first quarter 2006. Days sales outstanding (DSO) were 65 in the first quarter of 2007 compared to 66 days in the fourth quarter of 2006 and 77 days in the first quarter of 2006. Cash and short-term investments increased to $216.2 million at the end of the first quarter of 2007 compared to $197.5 million at the end of the fourth quarter of 2006, and $178.0 million at the end of the first quarter of 2006. Deferred revenue decreased to $5.8 million at the end of the first quarter of 2007 as compared to $8.2 million at the end of the prior quarter and decreased from $7.7 million at the end of the first quarter of 2006."

The U.S. retail channel inventory ended the first quarter of 2007 at 10.4 weeks compared to 9.3 weeks in the first quarter of 2006 and 8.4 weeks in the fourth quarter of 2006. U.S. distribution channel inventory ended the first quarter of 2007 at 4.4 weeks, as compared to 5.0 weeks in the first quarter of 2006, and 3.5 weeks in the fourth quarter of 2006. European distribution channel inventory ended the first quarter of 2007 at approximately 5.0 weeks, as compared to approximately 5.2 weeks in the first quarter of 2006 and 5.1 weeks in the fourth quarter of 2006. Asia Pacific distribution channel inventory ended the first quarter of 2007 at approximately 5.1 weeks, as compared to approximately 4.1 weeks in the first quarter of 2006, and 4.2 weeks in the fourth quarter of 2006.

Net revenue by geography comprises gross revenue less such items as marketing incentives paid to customers, sales returns and price protection. The following table shows net revenue by geography for the periods indicated:

Net revenue by geography: Three months ended April 1, 2007 April 2, 2006 December 31, 2006 North America $66,059 38% $56,382 44% $51,414 31% Europe, Middle-East and Africa 92,552 53% 56,788 45% 99,963 61% Asia Pacific 14,961 9% 14,089 11% 12,625 8% $173,572 100% $127,259 100% $164,002 100%

Looking forward, Mr. Lo added, "We entered 2007 with a strong new product lineup: RangeMax NEXT draft 11n wireless, Powerline 85 and HD, Gigabit Stackable and PoE Smart Switches, SSL appliances, Skype phones, Digital Entertainers, Storage Central Turbo and 100Mbps cable modems. We continue to benefit from robust demand and our strong brand pull in our core home and SMB markets led by the combination of continued broadband penetration along with our established alliances with content and service providers. As people continue to invest in creating, sharing and securely saving digital content, we believe we will remain a primary beneficiary. We are confident about our prospects for the coming quarters and year. We expect the seasonally weaker second quarter net revenue to be approximately $165 million to $170 million, with non-GAAP operating margin in the range of 11% to 12%. Finally, we expect the non-GAAP effective tax rate to be approximately 35.0%."

Investor Conference Call / Webcast Details

NETGEAR will review the first quarter and 2007 results and discuss management's expectations for the second quarter of 2007 today, Thursday, April 26, 2007 at 5 p.m. EST (2 p.m. PST). The dial-in number for the live audio call is (201) 689-8560. A live webcast of the conference call will be available on NETGEAR's website at http://www.netgear.com/. A replay of the call will be available 2 hours following the call through midnight EST (9 p.m. PST) on Thursday, May 3, 2007 by telephone at (201) 612-7415 and via the web at http://www.netgear.com/. The account number to access the phone replay is 3055 and the conference ID number is 237335.

About NETGEAR, Inc.

NETGEAR (NASDAQGM: NTGR) designs technologically advanced, branded networking products that address the specific needs of small and medium business and home users. The Company's product offerings enable users to share Internet access, peripherals, files, digital multimedia content and applications among multiple personal computers and other Internet-enabled devices. NETGEAR is headquartered in Santa Clara, Calif. For more information, visit the company's Web site at http://www.netgear.com/ or call (408) 907-8000.

NETGEAR, the NETGEAR logo and ProSafe are trademarks or registered trademarks of NETGEAR, Inc. in the United States and/or other countries. Other brand and product names are trademarks or registered trademarks of their respective holders. Information is subject to change without notice. All rights reserved. Maximum wireless signal rate derived from IEEE Standard 802.11 specifications. Actual data throughput will vary. Network conditions and environmental factors, including volume of network traffic, building materials and construction, and network overhead, lower actual data throughput.

Contacts: Doug Hagan David Pasquale Director, Corporate Marketing Executive Vice President, Investor NETGEAR, Inc. Relations (408) 907-8053 The Ruth Group doug.hagan@netgear.com (646) 536-7006 dpasquale@theruthgroup.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for NETGEAR, Inc.:

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The forward- looking statements represent NETGEAR, Inc.'s expectations or beliefs concerning future events and include statements, among others, regarding NETGEAR's expected revenue, earnings, operating income and tax rate on both a GAAP and non-GAAP basis, anticipated new product offerings, current and future demand for the Company's existing and anticipated new products, willingness of consumers to purchase and use the Company's products, and ability to increase distribution and market share for the Company's products domestically and worldwide. These statements are based on management's current expectations and are subject to certain risks and uncertainties, including, without limitation, the following: future demand for the Company's products may be lower than anticipated; consumers may choose not to adopt the Company's new product offerings or adopt competing products; product performance may be adversely affected by real world operating conditions; the Company may be unsuccessful or experience delays in manufacturing and distributing its new and existing products; telecommunications service providers may choose to slow their deployment of the Company's products or utilize competing products; the Company may be unable to collect receivables as they become due; the Company may fail to manage costs, including the cost of developing new products and manufacturing and distribution of its existing offerings; channel inventory information reported is estimated based on the average number of weeks of inventory on hand on the last Saturday of the quarter, as reported by certain of NETGEAR's customers. Further information on potential risk factors that could affect NETGEAR and its business are detailed in the Company's periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled "Part I - Item 1A. Risk Factors," pages 10 through 20, in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2006, filed with the Securities and Exchange Commission on March 1, 2007. NETGEAR undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Use of Non-GAAP Financial Information:

To supplement our consolidated financial statements presented on a GAAP basis, NETGEAR uses non-GAAP measures of operating results, net income and income per share, which are adjusted to exclude certain expenses and tax benefits we believe appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future. These adjustments to our current period GAAP results are made with the intent of providing both management and investors a more complete understanding of NETGEAR's underlying operational results and trends and our marketplace performance. For example, the non-GAAP results are an indication of our baseline performance before charges that are considered by management to be outside of our core operating results. In addition, these adjusted non-GAAP results are among the primary indicators management uses as a basis for our planning and forecasting of future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or diluted net income per share prepared in accordance with generally accepted accounting principles in the United States.

- Tables Attached - NETGEAR, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three months ended April 1, April 2, 2007 2006 Net revenue $173,572 $127,259 Cost of revenue 113,542 82,711 Gross profit 60,030 44,548 Operating expenses: Research and development 6,156 4,532 Sales and marketing 27,826 20,682 General and administrative 6,914 4,423 Total operating expenses 40,896 29,637 Income from operations 19,134 14,911 Interest income 2,371 1,602 Other income 272 69 Income before income taxes 21,777 16,582 Provision for income taxes 7,756 6,714 Net income $14,021 $9,868 Net income per share: Basic $0.41 $0.30 Diluted $0.40 $0.29 Weighted average shares outstanding used to compute net income per share: Basic 34,308 33,045 Diluted 35,362 34,091 Stock-based compensation expense was allocated as follows: Cost of revenue $133 $91 Research and development 469 201 Sales and marketing 622 293 General and administrative 623 240 NETGEAR, INC.

NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Excluding amortization of purchased intangibles and retention bonuses related

to the SkipJam acquisition and stock-based compensation, net of tax. (In thousands, except per share data) (Unaudited) Three months ended April 1, April 2, 2007 2006 Net revenue $173,572 $127,259 Cost of revenue 113,334 82,620 Gross profit 60,238 44,639 Operating expenses: Research and development 5,395 4,331 Sales and marketing 27,204 20,389 General and administrative 6,291 4,183 Total operating expenses 38,890 28,903 Income from operations 21,348 15,736 Interest income 2,371 1,602 Other income 272 69 Income before income taxes 23,991 17,407 Provision for income taxes 8,375 6,867 Net income $15,616 $10,540 Net income per share: Basic $0.46 $0.32 Diluted $0.44 $0.31 Weighted average shares outstanding used to compute net income per share: Basic 34,308 33,045 Diluted 35,362 34,091 NETGEAR, INC. GAAP TO NON-GAAP RECONCILIATION (In thousands, except per share data) (Unaudited) Three months ended April 1, 2007 Adjust- GAAP ments Non-GAAP Net revenue $173,572 $- $173,572 Cost of revenue 113,542 208 113,334 Gross profit 60,030 (208) 60,238 Operating expenses: Research and development 6,156 761 5,395 Sales and marketing 27,826 622 27,204 General and administrative 6,914 623 6,291 Total operating expenses 40,896 2,006 38,890 Income from operations 19,134 (2,214) 21,348 Interest income 2,371 - 2,371 Other income 272 - 272 Income before income taxes 21,777 (2,214) 23,991 Provision for income taxes 7,756 (619) 8,375 Net income $14,021 $(1,595) $15,616 Net income per share: Basic $0.41 $0.46 Diluted $0.40 $0.44 Weighted average shares outstanding used to compute net income per share: Basic 34,308 34,308 Diluted 35,362 35,362 NETGEAR, INC. GAAP TO NON-GAAP RECONCILIATION (In thousands, except per share data) (Unaudited) Three months ended April 2, 2006 Adjust- GAAP ments Non-GAAP Net revenue $127,259 $- $127,259 Cost of revenue 82,711 91 82,620 Gross profit 44,548 (91) 44,639 Operating expenses: Research and development 4,532 201 4,331 Sales and marketing 20,682 293 20,389 General and administrative 4,423 240 4,183 Total operating expenses 29,637 734 28,903 Income from operations 14,911 (825) 15,736 Interest income 1,602 - 1,602 Other income 69 - 69 Income before income taxes 16,582 (825) 17,407 Provision for income taxes 6,714 (153) 6,867 Net income $9,868 $(672) $10,540 Net income per share: Basic $0.30 $0.32 Diluted $0.29 $0.31 Weighted average shares outstanding used to compute net income per share: Basic 33,045 33,045 Diluted 34,091 34,091 NETGEAR, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) April 1, December 31, 2007 2006 ASSETS Current assets: Cash and cash equivalents $105,585 $87,736 Short-term investments 110,637 109,729 Accounts receivable, net 123,301 119,601 Inventories 68,368 77,932 Deferred income taxes 13,443 13,415 Prepaid expenses and other current assets 16,722 15,946 Total current assets 438,056 424,359 Property and equipment, net 6,953 6,568 Intangibles, net 900 975 Goodwill 3,800 3,800 Other non-current assets 1,500 2,202 Total assets $451,209 $437,904 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $32,804 $39,818 Accrued employee compensation 8,910 11,803 Other accrued liabilities 77,693 75,909 Deferred revenue 5,757 8,215 Income taxes payable 3,021 7,737 Total current liabilities 128,185 143,482 Non-current income taxes payable 4,923 - Total liabilities 133,108 143,482 Stockholders' equity: Common stock 34 33 Additional paid-in capital 230,893 221,487 Cumulative other comprehensive loss (9) (5) Retained earnings 87,183 72,907 Total stockholders' equity 318,101 294,422 Total liabilities and stockholders' equity $451,209 $437,904

NETGEAR, Inc.

CONTACT: Doug Hagan, Director, Corporate Marketing, NETGEAR, Inc.,
+1-408-907-8053, doug.hagan@netgear.com; or David Pasquale, Executive Vice
President, Investor Relations, The Ruth Group, +1-646-536-7006,
dpasquale@theruthgroup.com, for NETGEAR

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

MEMC Reports First Quarter Results

ST. PETERS, Mo., April 26 /PRNewswire-FirstCall/ -- MEMC Electronic Materials, Inc. today reported financial results for the quarter ended March 31, 2007.

Summary of first quarter results: -- Net sales of $440.4 million -- Gross margin of $222.5 million (50.5% of net sales) -- Operating income of $187.7 million (42.6% of net sales) -- Cash and short-term investment balances of $838.1 million

The company reported first quarter net sales of $440.4 million, which represents an increase of 4.7% from the fourth quarter 2006 level of $420.5 million. Gross margin in the quarter was $222.5 million, or 50.5% of net sales, compared to $203.3 million, or 48.3% of net sales, in the 2006 fourth quarter. Operating expenses totaled $34.8 million in the quarter, or 7.9% of sales, compared to $34.7 million, or 8.2% of sales, in the fourth quarter. Operating income in the quarter was $187.7 million, or 42.6% of net sales, compared to $168.6 million, or 40.1% of net sales, in the fourth quarter. Non- operating expense in the quarter includes a non-cash charge of $1.1 million, reflecting the required end of period valuation of the Suntech warrants.

Using an estimated effective cash tax rate of 15%, non-GAAP net income for the first quarter of 2007 was $164.3 million and non-GAAP diluted EPS was $0.71. Net income for the first quarter, using a book tax rate of 30.2%, was $134.7 million and GAAP diluted EPS was $0.58. Both GAAP and non-GAAP EPS figures include $7.4 million in pre-tax stock compensation expense and a $1.1 million pre-tax charge relating to the Suntech warrants. See non-GAAP reconciliation information at the end of this press release following the financial statement tables.

During the first quarter, the company generated operating cash flow of $214.5 million, or 48.7% of sales. Capital expenditures for the quarter totaled $47.9 million, or 10.9% of sales. Free cash flow (operating cash flow minus capital expenditures) was $166.6 million or 37.8% of sales. MEMC ended the first quarter with cash and short-term investments of $838.1 million, compared to $585.5 million at the end of the prior quarter. Cash balances include an additional security deposit made by a long-term supply agreement customer of $66 million.

Commenting on the company's performance, Nabeel Gareeb, MEMC's Chief Executive Officer said, "We are pleased to have grown revenue by almost 5% over the previous quarter, despite some semiconductor application areas being weaker than anticipated. Solar demand, however, remained healthy."

"In addition to revenue growth in the first quarter," continued Gareeb, "the company continued to improve margins, generate high levels of free cash flow, and further improve its already strong balance sheet. Cash and short- term investments grew by 43% over the previous quarter to over $838 million, while total debt remained flat at $35 million."

"During the quarter, the company commenced its first shipments of solar wafers. This marks an important milestone for MEMC as we introduce this new product line given our 50 years of experience in making wafers."

Second Quarter 2007 Outlook

"Although the demand environment for some of our semiconductor customers is improving compared to a soft first quarter, the wafer inventory recovery seems to be lagging that improvement a bit because of their days of inventory; in addition, other customers seem to have remnant inventory issues from the holiday season. Demand from the solar market, however, continues to be healthy. Based on these customer indications, we are targeting revenues of approximately $460-$470 million for the second quarter. We are also targeting margins to improve by approximately 100 basis points compared to the first quarter, with operating expenses between $36-$37 million," concluded Gareeb.

Other Events

The company also announced the appointment of Marshall Turner to MEMC's board of directors, effective April 25, 2007. Last year, Mr. Turner completed three years as the chief executive officer of Toppan Photomasks, Inc., formerly named "Dupont Photomasks, Inc." prior to its acquisition by Toppan Printing Company, Ltd. in April 2005. Mr. Turner is also a member of the board of directors of Xilinx, Inc. and the Alliance Bernstein Funds , and is a member of the boards of directors or advisory boards of several privately-held technology companies, including Toppan Photomasks. He is also a director of the George Lucas Educational Foundation and a trustee of the ResearchChannel. Prior to 2003, he was a general partner or principal of venture capital firms for thirty years. Mr. Turner has previously been a board member of twenty public and private companies, as well as four investment companies and eight non-profit organizations.

Conference Call

MEMC will host a conference call today, April 26, 2007, at 4:30 p.m. ET to discuss the company's first quarter results and related business matters. A live webcast will be available on the company's web site at http://www.memc.com/. Please go to the web site at least fifteen minutes prior to the call to register, download and install any necessary audio software.

A replay of the conference call will be available from 6:30 p.m. ET on April 26, 2007, until 11:59 p.m. ET on May 3, 2007. To access the replay, please dial (203) 369-3179 at any time during that period. A replay will also be available until 11:59 p.m. ET on May 3, 2007 on the company's web site at http://www.memc.com/.

About MEMC

MEMC is a global leader in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries. MEMC has been a pioneer in the design and development of wafer technologies over the past four decades. With R&D and manufacturing facilities in the U.S., Europe and Asia, MEMC enables the next generation of high performance semiconductor devices and solar cells.

Certain matters discussed in this news release are forward-looking statements, including our expectation that second quarter 2007 sales are targeted to be approximately $460-$470 million; and that margins are targeted to increase by approximately 100 basis points from the first quarter; with operating expenses between $36-$37 million. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include market demand for wafers and semiconductors as well as polysilicon; customer acceptance of our new products; utilization of manufacturing capacity; our ability to reduce manufacturing and operating costs; inventory levels of our customers; changes in the pricing environment for both silicon wafers and polysilicon; supply chain difficulties or problems; assumptions underlying management's financial estimates; general economic conditions; actions by competitors, customers and suppliers; changes in product specifications and manufacturing processes; changes in financial market conditions; changes in the composition of worldwide taxable income; the impact of competitive products and technologies; changes in interest and currency exchange rates and other risks described in the company's filings with the Securities and Exchange Commission.

These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

MEMC ELECTRONIC MATERIALS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited; Dollars in millions, except share data) Three Months Ended March 31, December 31, March 31, 2007 2006 2006 Net sales $440.4 $420.5 $341.5 Cost of goods sold 217.9 217.2 208.8 Gross margin 222.5 203.3 132.7 Operating expenses: Marketing and administration 25.3 25.9 22.6 Research and development 9.5 8.8 8.4 Operating income 187.7 168.6 101.7 Nonoperating (income) expense: Interest expense 0.3 0.4 1.0 Interest income (8.4) (6.2) (1.6) Loss (gain) on warrants 1.1 (21.3) - Other income, net (0.2) (0.8) (0.8) Total nonoperating (income) expense (7.2) (27.9) (1.4) Income before income tax expense and minority interests 194.9 196.5 103.1 Income tax expense 58.8 66.1 34.8 Income before minority interests 136.1 130.4 68.3 Minority interests (1.4) (1.5) (1.0) Net income $134.7 $128.9 $67.3 Basic income per share $0.60 $0.58 $0.30 Diluted income per share $0.58 $0.56 $0.29 Weighted-average shares used in computing basic income per share 223,971,069 222,728,419 221,695,347 Weighted-average shares used in computing diluted income per share 231,627,942 230,330,246 229,114,697 MEMC ELECTRONIC MATERIALS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Dollars in millions) March 31, December 31, 2007 2006 (Unaudited) ASSETS Current assets: Cash and cash equivalents $783.4 $527.5 Short-term investments 54.7 58.0 Accounts receivable, net 210.4 199.0 Inventories 66.7 80.2 Prepaid and other current assets 25.0 34.8 Total current assets 1,140.2 899.5 Property, plant and equipment, net 626.5 603.5 Deferred tax assets, net 121.0 119.5 Other assets 151.3 143.0 Total assets $2,039.0 $1,765.5 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long-term debt $5.1 $5.0 Accounts payable 121.8 125.4 Accrued liabilities 44.7 40.3 Accrued wages and salaries 33.3 32.8 Customer deposits 50.5 - Income taxes payable 75.6 54.3 Total current liabilities 331.0 257.8 Long-term debt, less current portion 29.6 29.4 Pension and post-employment liabilities 83.0 85.2 Deferred revenue 79.9 68.1 Other liabilities 147.0 119.5 Total liabilities 670.5 560.0 Minority interests 33.7 38.6 Commitments and contingencies Stockholders' equity: Preferred stock - - Common stock 2.3 2.2 Additional paid-in capital 273.8 242.5 Retained earnings 1,069.1 933.8 Accumulated other comprehensive loss (6.2) (7.4) Treasury stock (4.2) (4.2) Total stockholders' equity 1,334.8 1,166.9 Total liabilities and stockholders' equity $2,039.0 $1,765.5 MEMC ELECTRONIC MATERIALS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited; Dollars in millions) Three Months Ended March 31, December 31, March 31, 2007 2006 2006 Cash Flows from Operating Activities: Net income $134.7 $128.9 $67.3 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 19.0 18.7 16.4 Minority interests 1.4 1.5 1.0 Stock compensation 7.4 7.1 3.6 Working capital and other 52.0 (3.8) 32.0 Net cash provided by operating activities 214.5 152.4 120.3 Cash Flows from Investing Activities: Proceeds from sales and maturities of investments 14.2 15.8 3.4 Purchases of investments (11.7) (44.4) (2.0) Capital expenditures (47.9) (51.6) (29.7) Other - - 0.1 Net cash used in investing activities (45.4) (80.2) (28.2) Cash Flows from Financing Activities: Net repayments on short-term borrowings - - (13.0) Proceeds from customer deposits 63.7 16.0 - Principal payments on long-term debt - (2.5) - Excess tax benefits from stock-based compensation arrangements 12.1 9.4 - Proceeds from issuance of common stock 10.2 10.9 3.3 Net cash provided by (used in) financing activities 86.0 33.8 (9.7) Effect of exchange rate changes on cash and cash equivalents 0.8 3.1 1.3 Net increase in cash and cash equivalents 255.9 109.1 83.7 Cash and cash equivalents at beginning of period 527.5 418.4 126.5 Cash and cash equivalents at end of period $783.4 $527.5 $210.2 Reconciliation of GAAP Net Income and EPS to non-GAAP Net Income and EPS Net Income EPS GAAP $134.7 $0.58 Cash Tax Difference* 29.6 0.13 Non-GAAP $164.3 $0.71 *Our estimated cash tax rate is the estimated tax payable on our tax returns as a percentage of estimated annual pre-tax book income. The annual cash tax rate is estimated quarterly by reference to book taxable income and then taking into account temporary book/tax differences and any tax basis items reflected on our annual tax returns. The Q1 2007 estimated cash tax rate is 15%. The Q1 2007 book tax rate is 30.2%, giving rise to a $29.6 million tax difference from GAAP to non-GAAP EPS calculations as reflected in the above table.

MEMC Electronic Materials, Inc.

CONTACT: Bill Michalek, Director, Investor Relations, MEMC Electronic
Materials, Inc., +1-636-474-5443

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

Central European Media Enterprises Announces First Quarter 2007 Earnings Release and Teleconference

HAMILTON, Bermuda, April 26 /PRNewswire-FirstCall/ -- Central European Media Enterprises Ltd. ("CME") (Nasdaq/Prague Stock Exchange: CETV) announced today that it will release first quarter 2007 financial results before U.S. market hours on Thursday, May 3, 2007.

The company will also host a teleconference to discuss its first quarter 2007 results on Thursday, May 3, 2007 at 10:00 a.m. New York time (3:00 p.m. London time and 4:00 p.m. Prague time). The teleconference will refer to presentation slides which will be available on CME's website http://www.cetv-net.com/ prior to the call.

To access the teleconference, please dial +1 973-582-2717 (U.S. and International callers) ten minutes prior to the start time. The conference call will be broadcast live via http://www.cetv-net.com/.

If you cannot listen to the teleconference at its scheduled time, there will be a replay available for two weeks following the call that can be accessed by dialing +1 973-341-3080 (U.S. and International callers), passcode: 8717775. A digital audio replay in mp3 format will also be archived on the company's website.

CME is a TV broadcasting company operating leading networks in six Central and Eastern European countries with an aggregate population of approximately 91 million people. The Company's television stations are located in Croatia (Nova TV), Czech Republic (TV Nova, Galaxie Sport), Romania (PRO TV, Acasa, PRO Cinema, PRO TV International, Sport.ro), Slovakia (Markiza), Slovenia (POP TV, Kanal A) and Ukraine (Studio 1+1, Studio 1+1 International, Kino, Citi). CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol "CETV".

For further information visit: http://www.cetv-net.com/

Central European Media Enterprises Ltd.

CONTACT: Romana Tomasova, Director of Corporate Communications of
Central European Media Enterprises, +44 (0)20 7430 5357,
romana.tomasova@cme-net.com

Web site: http://www.cetv-net.com/

U.S. Auto Parts Network, Inc. Expands International WorkforceCompany Takes Control of Outsourced Call-Center Employees

CARSON, Calif., April 26 /PRNewswire-FirstCall/ -- U.S. Auto Parts Network, Inc. , a leading online provider of aftermarket auto parts and accessories, today announced it has entered into an agreement to bring in house certain sales and customer service employees based in the Philippines who are currently supporting the Company through its outsourced call center provider, Access Worldwide. The agreement announced today is expected to be cost-neutral for U.S. Auto Parts for the next six months and to create operating cost savings starting late in 2007 and beyond.

Under the terms of the agreement with Access Worldwide, approximately 182 employees of Access Worldwide will be given the opportunity to become U.S. Auto Parts employees and join our 244 existing direct U.S. Auto Parts employees already working for the Company in the Philippines. Approximately 170 of these employees have already agreed to transition over to direct employment by U.S. Auto Parts' Philippines subsidiary. U.S. Auto Parts has also entered into an agreement to lease workstations in the current Access Worldwide facility in the Philippines for a period of six months. The Company is currently anticipating opening its own call center facility in the Philippines in the second half of 2007 to augment the facilities it already operates there.

"Our call center agents form an integral part of our operations by supporting our network of e-commerce sites and online marketplaces and generating cross-sell and up-sell opportunities," said Mehran Nia, President and Chief Executive Officer. "This is an important move for us as we continue to build our Company and take direct control of the experience customers have with us. We want to make sure we are satisfying our customer at each and every point of contact they have with us, and we believe we can do this best when we have direct control over the employees who work for us in our call centers. We believe that taking direct control of the customer experience will allow us to better serve our customers."

Michael McClane, Chief Financial Officer, added, "As we grow our business, we remain focused on controlling operating expenses and fully leveraging our offshore operations. During the six-month transition period, we expect our costs to remain relatively consistent with historical levels, and once the move to our own facility is complete, we expect to realize cost savings in 2008 and beyond. This is a natural move for us given our existing operations in the Philippines and our proven ability to manage offshore operations in a cost-effective manner."

About U.S. Auto Parts Network, Inc.

Established in 1995, U.S. Auto Parts is a leading online provider of aftermarket auto parts, including body parts, engine parts, performance parts and accessories. Through the Company's network of websites, U.S. Auto Parts provides individual consumers with a comprehensive selection of approximately 550,000 competitively priced products that are mapped by a proprietary product database to over 4.3 million product applications based on vehicle makes, models and years. U.S. Auto Parts' flagship websites are located at http://www.partstrain.com/ and http://www.autopartswarehouse.com/ and the Company's corporate website is located at http://www.usautoparts.net/.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are based on management's current expectations, estimates and projections about the Company's business and its industry, as well as certain assumptions made by the Company. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will" and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, the Company's expectations regarding the timing, costs and potential benefits of the Company's new call center and the Company's ability to successfully obtain and transition the Access employees to the Company's Philippines subsidiary. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, the Company's ability to locate, equip and operate a new call center and transition the employees and the related support to the Company's Philippines subsidiary; the costs and expenses of building and operating such facility; the ability to retain such employees following the closing of the Purchase Agreement; the ability to effectively staff and manage offshore call center operations; different employment and other legal or regulatory requirements associated with operating a subsidiary in the Philippines; demand for and pricing of the Company's products; the competitive environment in the Company's industry; the Company's ability to expand its product offerings; the Company's ability to control costs and meet the analysts' expectations; changes in general economic or market conditions; and other factors discussed in the Company's filings with the Securities and Exchange Commission (the "SEC"), including the Risk Factors contained in the Company's Annual Report on Form 10-K, and available at http://www.usautoparts.net/ and the SEC's website at http://www.sec.gov/. You are urged to consider these factors carefully in evaluating the forward-looking statements in this release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. Unless otherwise required by law, the Company expressly disclaims any obligation to update publicly any forward-looking statements, whether as result of new information, future events or otherwise.

Investor Contacts: Michael McClane, Chief Financial Officer U.S. Auto Parts Network, Inc. michael@usautoparts.com (310) 735-0085 Anne Rakunas / Laura Foster Integrated Corporate Relations, Inc. (310) 954-1100 anne.rakunas@icrinc.com laura.foster@icrinc.com Media Contacts: Stephanie Sampiere / Matt Lindberg Integrated Corporate Relations, Inc. (203) 682-8200 stephanie.sampiere@icrinc.com matthew.lindberg@icrinc.com

U.S. Auto Parts Network, Inc.

CONTACT: Investors, Michael McClane, Chief Financial Officer of U.S.
Auto Parts Network, Inc., +1-310-735-0085, michael@usautoparts.com; or Anne
Rakunas, anne.rakunas@icrinc.com, or Laura Foster, laura.foster@icrinc.com,
both of Integrated Corporate Relations, Inc., +1-310-954-1100, for U.S. Auto
Parts Network, Inc.; or Media, Stephanie Sampiere,
stephanie.sampiere@icrinc.com, or Matt Lindberg, matthew.lindberg@icrinc.com,
both of Integrated Corporate Relations, Inc., +1-203-682-8200, for U.S. Auto
Parts Network, Inc.

Web site: http://www.usautoparts.net/

Ingram Micro Reports First Quarter 2007 ResultsSales hit a first-quarter recordAsia-Pacific achieves record sales and operating income

SANTA ANA, Calif., April 26 /PRNewswire-FirstCall/ -- Ingram Micro Inc. , the world's largest technology distributor, today announced financial results for the first quarter of 2007 (ended March 31, 2007).

Worldwide sales for the quarter were $8.25 billion, a 9 percent increase from $7.60 billion in the prior-year period. The translation impact of the relatively stronger European currencies had an approximate 3 percentage-point positive effect on comparisons to the prior year.

Net income for the first quarter was $37.0 million, or $0.21 per diluted share which is at the high end of the company's earnings guidance issued on March 1, 2007. As previously announced, a first-quarter charge of $33.8 million, or $0.19 per diluted share, was recorded to cost of sales for commercial taxes on software imports in Brazil, reflecting tax legislation enacted on February 28, 2007. In addition, the first quarter included a benefit of approximately $0.02 per diluted share from the favorable resolution of a U.S. tax audit. First-quarter net income in the year ago period was $61.7 million, or $0.36 per diluted share.

"The technology markets in all our regions are generally solid, driving another first quarter sales record," said Gregory M. Spierkel, chief executive officer, Ingram Micro Inc. "We are also especially pleased with the performances of North America and Asia-Pacific, where operating income grew at more than twice the rate of sales, reflecting our successful efforts toward diversification into adjacencies and geographies. The Brazilian tax charge and our efforts to gain share in Germany dampened income in the other two regions, but we believe these markets will generate more fruitful results in the months ahead."

Additional First Quarter Highlights

For additional detail regarding the results outlined below, please refer to the financial statements and schedules attached to this news release or visit http://www.ingrammicro.com/.

Regional Sales: * North American sales were $3.28 billion (40 percent of total revenues), an increase of 2 percent versus the $3.21 billion posted a year ago. * European sales were $3.05 billion (37 percent of total revenues) versus $2.70 billion in the year-ago period. Sales in U.S. dollars were up 13 percent over the prior-year period. The translation impact of the relatively stronger European currencies had an approximate 10 percentage-point positive impact on comparisons to the prior year. * Asia-Pacific sales were $1.57 billion (19 percent of total revenues) versus $1.33 billion in the prior-year period -- an increase of 18 percent. * Latin American sales were $346 million (4 percent of total revenues), a decrease of 3 percent compared to the $357 million posted a year ago. Gross margin

The charge related to Brazilian commercial taxes adversely affected the gross margin by approximately 41 basis points, resulting in a gross margin of 4.96 percent versus 5.34 percent in the year-ago quarter. The negative impact was partially mitigated by general enhancements in the gross margin in certain regions over the prior year.

Operating expenses

Total operating expenses were $335.1 million or 4.06 percent of revenues versus $306.6 million or 4.04 percent of revenues in the year-ago quarter. The percentage-of-sales increase is largely attributable to increased European costs associated with the previously disclosed warehouse management system upgrade in Germany.

Operating income

Worldwide operating income was $73.7 million or 0.89 percent of revenues, which includes the Brazilian tax charge of approximately $33.8 million or 41 basis points. In the year-ago quarter, operating income was $98.9 million or 1.30 percent of revenues.

* North American operating income was $57.0 million or 1.74 percent of revenues, an increase of 10 percent or 12 basis points versus the $51.9 million or 1.62 percent of revenues in the year-ago quarter. * European operating income was $35.0 million or 1.15 percent of revenues versus $34.5 million or 1.28 percent of revenues in the year-ago quarter. The additional operating expenses related to improving service levels and regaining market share that suffered from the transition to the upgraded warehouse management system in Germany had a negative impact on European operating income compared to the prior year. * Asia-Pacific operating income increased 45 percent to $19.7 million, or 1.25 percent of revenues, compared to $13.5 million or 1.02 percent of revenues in the previous-year period. * Latin America recorded an operating loss of $28.4 million or 8.20 percent of revenues due to the previously mentioned $33.8 million commercial tax charge in Brazil, which was approximately 9.76 percent of revenues. In the year ago quarter, operating income was $7.0 million or 1.95 percent of revenues. * Stock-based compensation expense, which amounted to $9.6 million in the current quarter and $8.0 million in the prior year quarter, is presented as a separate reconciling amount in the company's segment reporting in both periods. As such, these expenses are not included in the regional operating results, but are included in the worldwide operating results. - Other income and expense for the quarter was $15.4 million versus $13.2 million in the year-ago period, primarily driven by higher market interest rates and additional working capital needs associated with the higher volume of business. - The effective tax rate for the quarter was 36.6 percent, which was negatively impacted by the $33.8 million Brazilian commercial tax charge, for which the company did not recognize an income tax benefit. This was partially offset by the positive impact resulting from the company's reversal of certain income tax reserves following the favorable resolution of a U.S. tax audit. The effective rate in the prior year period was 28 percent. - Total depreciation and amortization was $15.2 million. - Capital expenditures were approximately $16.4 million. Balance Sheet - The cash balance at the end of the quarter was $300 million, a decrease of $33 million from the year-end balance. Total debt was $607 million, an increase of $97 million from year-end. Debt-to-capitalization was 17 percent versus 15 percent at the year-end. - Inventory was $2.50 billion or 29 days on hand compared to $2.68 billion or 29 days on hand at the end of the year. - Working capital days were 26, an increase of four days from year-end primarily due to higher receivable days resulting from slight changes to the company's revenue mix, particularly greater sales into the retail sector, as well as the timing of customer payments.

"There were bright spots in every region," said William D. Humes, executive vice president and chief financial officer. "Nearly every country in Europe generated year-over-year growth. In Germany, the operational complications with the upgraded warehouse management system are largely behind us, and we're concentrating on recapturing sales. In Asia Pacific, we continue to take advantage of the growing markets and process improvements to hit record sales and operating income levels. North America is leveraging its efficient infrastructure and higher-margin specialty units to deliver strong operating income. While changes in Brazilian tax law caused us to record a charge for taxes on past software sales, the same legislation could result in greater opportunities for software sales in the future."

Outlook for the Second Quarter

The following statements are based on the company's current expectations and internal forecasts. These statements are forward-looking and actual results may differ materially, as outlined in the company's periodic filings with the Securities and Exchange Commission.

According to the company's guidance for the second quarter ending June 30, 2007:

* Sales are expected to range from $8.00 billion to $8.25 billion. * Net income is expected to range from $59 million to $65 million, or $0.34 to $0.37 per diluted share. * The weighted average shares outstanding is expected to be approximately 176 million and an effective tax rate of 28 percent is estimated for the second quarter and subsequent quarters of 2007.

"Our second-quarter guidance reflects good year-over-year sales growth of 8 to 12 percent, with demand generally stable in all regions," said Spierkel. "The modest sequential sales decline is in line with normal historical trends, as the second and third quarters are seasonally softer. In the second quarter, we are poised to move beyond the one-time challenges we've faced in Germany and Brazil, and are excited by the opportunities and growth we see throughout the Asia Pacific region, through our expanded reach into South Africa, and in our growing specialty businesses -- including consumer electronics, managed services, and the network security distribution and training company we recently acquired in North America."

Conference Call and Webcast

Additional information about Ingram Micro's financial results will be presented in a conference call with presentation slides today at 5 p.m. EDT. To listen to the conference call webcast and view the accompanying presentation slides, visit the company's Web site at http://www.ingrammicro.com/ (Investor Relations section). The conference call is also accessible by telephone at (888) 455-0750 (toll-free within the United States and Canada) or (517) 308-9002 (other countries).

The replay of the conference call with presentation slides will be available for one week at http://www.ingrammicro.com/ (Investor Relations section) or by calling (800) 678-3180 or (402) 220-3063 outside the United States and Canada.

Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995

The matters in this press release that are forward-looking statements, including but not limited to statements about future revenues, sales levels, operating income, margins, stock-based compensation expense, integration costs, cost synergies, operating efficiencies, profitability, market share and rates of return, are based on current management expectations that involve certain risks which, if realized, in whole or in part, could cause such expectations to fail to be achieved and have a material adverse effect on Ingram Micro's business, financial condition and results of operations, including, without limitation: (1) intense competition, regionally and internationally, including competition from alternative business models, such as manufacturer-to-end-user selling, which may lead to reduced prices, lower sales or reduced sales growth, lower gross margins, extended payment terms with customers, increased capital investment and interest costs, bad debt risks and product supply shortages; (2) integration of our acquired businesses and similar transactions involve various risks and difficulties -- our operations may be adversely impacted by an acquisition that (i) is not suited for us, (ii) is improperly executed, or (iii) substantially increases our debt; (3) foreign exchange rate fluctuations, devaluation of a foreign currency, adverse governmental controls or actions, political or economic instability, or disruption of a foreign market, and other related risks of our international operations may adversely impact our operations in that country or globally; (4) we may not achieve the objectives of our process improvement efforts or be able to adequately adjust our cost structure in a timely fashion to remain competitive, which may cause our profitability to suffer; (5) our failure to attract new sources of profitable business from expansion of products or services or risks associated with entry into new markets, including geographies, products and services, could negatively impact our future operating results; (6) an interruption or failure of or disruptions due to changes to our information systems or subversion of access or other system controls may result in a significant loss of business, assets, or competitive information and may adversely impact our results of operations; (7) significant changes in supplier terms, such as higher thresholds on sales volume before distributors may qualify for discounts and/or rebates, the overall reduction in the amount of incentives available, reduction or termination of price protection, return levels, or other inventory management programs, or reductions in payment terms, may adversely impact our results of operations or financial condition; (8) termination of a supply or services agreement with a major supplier or product supply shortages may adversely impact our results of operations; (9) changes in, or interpretations of, tax rules and regulations may adversely affect our effective tax rates or we may be required to pay additional tax assessments; (10) we cannot predict with certainty, the outcome of the SEC and U.S. Attorney's inquiries or assessments by Brazilian taxing authorities; (11) if there is a downturn in economic conditions for an extended period of time, it will likely have an adverse impact on our business; (12) we may experience loss of business from one or more significant customers, and an increased risk of credit loss as a result of reseller customers' businesses being negatively impacted by dramatic changes in the information technology products and services industry as well as intense competition among resellers -- increased losses, if any, may not be covered by credit insurance or we may not be able to obtain credit insurance at reasonable rates or at all; (13) rapid product improvement and technological change resulting in inventory obsolescence or changes in demand may result in a decline in value of a portion of our inventory; (14) future terrorist or military actions could result in disruption to our operations or loss of assets, in certain markets or globally; (15) the loss of a key executive officer or other key employees, or changes affecting the work force such as government regulations, collective bargaining agreements or the limited availability of qualified personnel, could disrupt operations or increase our cost structure; (16) changes in our credit rating or other market factors may increase our interest expense or other costs of capital, or capital may not be available to us on acceptable terms to fund our working capital needs; (17) our failure to adequately adapt to industry changes and to manage potential growth and/or contractions could negatively impact our future operating results; (18) future periodic assessments required by current or new accounting standards such as those relating to long-lived assets, goodwill and other intangible assets and expensing of stock options may result in additional non-cash charges; (19) seasonal variations in the demand for products and services, as well as the introduction of new products, may cause variations in our quarterly results; and (20) the failure of certain shipping companies to deliver product to us, or from us to our customers, may adversely impact our results of operations.

Ingram Micro has instituted in the past and continues to institute changes to its strategies, operations and processes to address these risk factors and to mitigate their impact on Ingram Micro's results of operations and financial condition. However, no assurances can be given that Ingram Micro will be successful in these efforts. For a further discussion of significant factors to consider in connection with forward-looking statements concerning Ingram Micro, reference is made to Item 1A Risk Factors of Ingram Micro's Annual Report on Form 10-K for the year ended December 30, 2006; other risks or uncertainties may be detailed from time to time in Ingram Micro's future SEC filings. Ingram Micro disclaims any duty to update any forward-looking statements.

About Ingram Micro Inc.

As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics services, technical support, financial services, and product aggregation and distribution. The company serves more than 150 countries and is the only global broadline IT distributor with operations in Asia. Visit http://www.ingrammicro.com/.

(c) 2007 Ingram Micro Inc. All rights reserved. Ingram Micro and the registered Ingram Micro logo are trademarks used under license by Ingram Micro Inc.

Ingram Micro Inc. Consolidated Balance Sheet (Dollars in 000s) (Unaudited) March 31, December 30, 2007 2006 ASSETS Current assets: Cash $300,473 $333,339 Trade accounts receivable, net 3,443,111 3,316,723 Inventories 2,496,213 2,682,558 Other current assets 452,665 413,453 Total current assets 6,692,462 6,746,073 Property and equipment, net 176,596 171,435 Goodwill 665,077 643,714 Other 123,939 143,085 Total assets $7,658,074 $7,704,307 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $3,504,847 $3,788,605 Accrued expenses 500,314 440,383 Current maturities of long-term debt 143,477 238,793 Total current liabilities 4,148,638 4,467,781 Long-term debt, less current maturities 463,784 270,714 Other liabilities 59,553 45,337 Total liabilities 4,671,975 4,783,832 Stockholders' equity 2,986,099 2,920,475 Total liabilities and stockholders' equity $7,658,074 $7,704,307 Ingram Micro Inc. Consolidated Statement of Income (Dollars in 000s, except per share data) (Unaudited) Thirteen Weeks Ended March 31, 2007 April 1, 2006 Net sales $8,245,704 $7,598,845 Costs of sales 7,836,932 7,193,301 Gross profit 408,772 405,544 Operating expenses: Selling, general and administrative 335,742 307,151 Reorganization credits (684) (524) 335,058 306,627 Income from operations 73,714 98,917 Interest and other 15,395 13,193 Income before income taxes 58,319 85,724 Provision for income taxes 21,339 24,003 Net income $36,980 $61,721 Diluted earnings per share: Net income $0.21 $0.36 Diluted weighted average shares outstanding 175,074,739 169,277,586 Ingram Micro Inc. Supplementary Information Income from Operations (Dollars in 000s) (Unaudited) Thirteen Weeks Ended March 31, 2007 Operating Operating Net Sales Income Margin (Loss) (Loss) North America $3,283,438 $57,014 1.74% Europe 3,047,297 34,954 1.15% Asia-Pacific 1,569,165 19,689 1.25% Latin America 345,804 (28,359) (8.20%) Reconciling amount (stock-based compensation under SFAS 123R) -- (9,584) -- Consolidated Total $8,245,704 $73,714 0.89% Thirteen Weeks Ended April 1, 2006 Operating Operating Net Sales Income Margin North America $3,206,595 $51,859 1.62% Europe 2,702,627 34,521 1.28% Asia-Pacific 1,332,832 13,533 1.02% Latin America 356,791 6,957 1.95% Reconciling amount (stock-based compensation under SFAS 123R) -- (7,953) -- Consolidated Total $7,598,845 $98,917 1.30%

Ingram Micro Inc.

CONTACT: Media, Jim Trainor, +1-714-382-2378,
jim.trainor@ingrammicro.com, or Rekha Parthasarathy, +1-714-382-1319,
rekha@ingrammicro.com, or Investors, Ria Marie Carlson, +1-714-382-4400,
ria.carlson@ingrammicro.com, or Kay Leyba, +1-714-382-4175,
kay.leyba@ingrammicro.com, all of Ingram Micro Inc.

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

Flextronics Announces Record Results for Fourth Quarter and Fiscal Year 2007Record Fiscal Year Net Sales Up 23% to $18.9 Billion; Record Fiscal Year Diluted GAAP EPS Up 254% to $0.85; Non-GAAP EPS Up 16% to $0.80;Record Fourth Quarter Net Sales Up 32% to $4.7 Billion; Record Fourth Quarter Diluted GAAP EPS Up 186% to $0.20; Diluted Non-GAAP EPS Up 25% to $0.20

SINGAPORE, April 26 /PRNewswire-FirstCall/ -- Flextronics today announced results for its fourth quarter and fiscal year ended March 31, 2007 as follows:

Three Months Twelve Months (US$ in millions, except EPS) Ended Ended March 31, March 31, 2007 2006 2007 2006 Net sales $4,677 $3,531 $18,854 $15,288 GAAP operating income $75 $40 $374 $246 Adjusted operating income (1) $141 $104 $570 $470 GAAP net income $121 $43 $509 $141 Adjusted net income (1) $122 $98 $478 $417 Diluted GAAP EPS $0.20 $0.07 $0.85 $0.24 Adjusted diluted EPS (1) $0.20 $0.16 $0.80 $0.69 (1) A reconciliation of non-GAAP financial measures to GAAP financial measures is presented in Schedule III attached to this press release. Fourth Quarter and Fiscal Year Results

Net sales for the fourth quarter ended March 31, 2007 were $4.7 billion, which represents an increase of $1.1 billion, or 32%, over the year ago quarter. Adjusted operating income for the fourth quarter ended March 31, 2007 increased 36% over the year ago quarter while adjusted net income increased 24% to $122 million, or $0.20 per diluted share, compared to $98 million, or $0.16 per diluted share, in the year ago quarter.

Net sales for fiscal year ended March 31, 2007 were a record high $18.9 billion, which represents an increase of $3.6 billion, or 23%, over fiscal year 2006. Adjusted operating income for fiscal 2007 increased 21% over the prior fiscal year while adjusted net income for fiscal year 2007 increased 15% to a record $478 million, or $0.80 per diluted share, compared to $417 million, or $0.69 per diluted share, in fiscal year 2006.

GAAP net income increased 181% to $121 million, or $0.20 per diluted share, for the fourth quarter ended March 31, 2007 compared to $43 million, or $0.07 per diluted share, in the year ago quarter. GAAP net income increased 261% to a fiscal year 2007 record $509 million, or $0.85 per diluted share, compared to $141 million, or $0.24 per diluted share, in fiscal year 2006.

"We are very pleased with our record-breaking fourth quarter and fiscal year results, which reflect our intense focus on growth acceleration, vertical integration and expanding our service offering to increase our market share and profitability. I wish to thank our employees, who have worked hard to achieve these revenue and profit results that are well in excess of the industry averages. We believe this exceptional growth is a validation of our strategy and results from our ability to add significant value to our customers. We will continue to be intensely focused on growing our market share with the appropriate return on capital, while enhancing our competitive position in the marketplace," said Mike McNamara, chief executive officer of Flextronics.

McNamara added, "We accomplished our growth objectives as revenues grew by 23% in fiscal 2007 to an all-time record high of $18.9 billion and adjusted annual operating profit grew by 21% while achieving our targeted annual adjusted operating margin of 3%. We are very pleased that we also met our adjusted earnings per share commitment of $0.80 for fiscal 2007. Despite a heavy investment cycle, the Company's return on invested capital increased by 60 basis points to 10.4% in fiscal 2007."

Guidance

For the first quarter ending June 29, 2007, revenue is expected to grow 18-23% on a year-over-year basis to a range of $4.8 billion to $5.0 billion and adjusted EPS is expected to grow 11-22% on a year-over-year basis to a range of $0.20-$0.22 per share.

For the 2008 fiscal year, revenue is expected to grow 10-15% on a year- over-year basis to a range of $20.7 billion to $21.7 billion and adjusted EPS is expected to grow 15-20% on a year-over-year basis to a range of $0.92-$0.96 per share.

GAAP earnings are expected to be lower than the guidance provided herein by approximately $0.03 per diluted share per quarter reflecting quarterly intangible amortization and stock-based compensation expense.

2004 Award Plan for New Employees

Options to purchase an aggregate of 741,200 ordinary shares were granted on April 24, 2007 from the 2004 Award Plan for New Employees. The options have an exercise price of $11.10 (equal to the closing price of our ordinary shares on the grant date, as quoted on the NASDAQ Global Select Market), and will expire 10 years after the date of grant (or upon termination of employment, if earlier), and generally become exercisable over four years.

Conference Call and Web Cast

A conference call hosted by Flextronics' management will be held today at 1:30 p.m. PST to discuss the Company's financial results and its outlook. This call will be broadcast via the Internet and may be accessed by logging on to the Company's website at http://www.flextronics.com/. Additional information in the form of a slide presentation that summarizes the quarterly results may also be found on the Company's site. A replay of the broadcast will remain available on the Company's website after the call.

Minimum requirements to listen to the broadcast are Microsoft Windows Media Player software (free download at http://www.microsoft.com/windows/windowsmedia/download/default.asp) and at least a 28.8 Kbps bandwidth connection to the Internet.

About Flextronics

Headquartered in Singapore (Singapore Reg. No. 199002645H), Flextronics is a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to automotive, computing, consumer digital, industrial, infrastructure, medical and mobile OEMs. With fiscal year 2007 revenues from continuing operations of US$18.9 billion, Flextronics helps customers design, build, ship, and service electronics products through a network of facilities in over 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and vertically integrated with components technologies, to optimize

customer operations by lowering costs and reducing time to market. For more information, please visit http://www.flextronics.com/.

This press release contains forward-looking statements within the meaning of U.S. securities laws, including statements related to revenue and earnings growth. These forward-looking statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements. These risks include that revenue and earnings growth may not occur as expected or at all; our dependence on industries that continually produce technologically advanced products with short life cycles; our ability to respond to changes in economic trends, to fluctuations in demand for our customers' products and to the short-term nature of our customers' commitments; competition in our industry, particularly from ODM suppliers in Asia; our dependence on a small number of customers for the majority of our sales; the challenges of effectively managing our operations; the challenges of integrating acquired companies or assets; our reliance on strategic relationships with major customers; the impact on our margins and profitability resulting from substantial investments and start-up and integration costs in our components, design and ODM capabilities; that we may not be able to obtain new customer programs, or that if we do obtain them, that they may not contribute to our revenue or profitability as expected or at all; our ability to design and quickly introduce world-class components products that offer significant price and/or performance advantages over competitive products; production difficulties, especially with new products; our ability to utilize available and recently expanded manufacturing capacity; the risk of future restructuring charges that could be material to our financial condition and results of operations; not realizing expected returns from our retained interests in divested businesses; changes in government regulations and tax laws; our exposure to potential litigation relating to intellectual property rights, product warranty and product liability; potential impairment of our intangible assets; our dependence on the continued trend of outsourcing by OEMs; the effects of customer bankruptcies; and the other risks described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our reports on Form 10-K, 10-Q and 8-K that we file with the U.S. Securities and Exchange Commission. The forward-looking statements in this press release are based on current expectations and Flextronics assumes no obligation to update these forward-looking statements.

SCHEDULE I FLEXTRONICS INTERNATIONAL LTD. AND SUBSIDIARIES UNAUDITED SELECTED FINANCIAL DATA (1) (In thousands, except per share amounts) Three Months Ended March 31, 2007 Non-GAAP (1) Required GAAP Adjustments Continuing Operations: Net sales $4,676,752 $- $4,676,752 Gross profit 276,954 (51,472) 225,482 Selling, general and administrative expenses 136,046 10,203 146,249 Operating income 140,908 (66,136) 74,772 Intangible amortization - 13,569 13,569 Interest and other expense, net 13,566 (78,314) (64,748) Provision for (benefit from) income taxes 5,414 (137) 5,277 Net income $121,928 $(1,254) $120,674 Diluted earnings per share $0.20 $0.20 Shares used in computing per share amounts 615,428 615,428 Three Months Ended March 31, 2006 Non-GAAP (1) Required GAAP Adjustments Continuing Operations: Net sales $3,530,889 $- $3,530,889 Gross profit 213,341 (56,481) 156,860 Selling, general and administrative expenses 109,359 - 109,359 Operating income 103,982 (64,149) 39,833 Intangible amortization - 8,270 8,270 Interest and other expense, net 18,367 (18,013) 354 Provision for (benefit from) income taxes (2,461) (3,233) (5,694) Net income $97,965 $(55,017) $42,948 Diluted earnings per share $0.16 $0.07 Shares used in computing per share amounts 602,218 602,218 (1) See Schedule III for the reconciliation of non-GAAP financial measures to GAAP financial measures. SCHEDULE II FLEXTRONICS INTERNATIONAL LTD. AND SUBSIDIARIES UNAUDITED SELECTED FINANCIAL DATA (1) (In thousands, except per share amounts) Twelve Months Ended March 31, 2007 Non-GAAP (1) Required GAAP Adjustments Continuing Operations: Net sales $18,853,688 $- $18,853,688 Gross profit 1,079,713 (150,715) 928,998 Selling, general and administrative expenses 510,035 39,580 549,615 Operating income 569,678 (195,321) 374,357 Intangible amortization - 37,089 37,089 Interest and other expense, net 84,901 (72,586) 12,315 Provision for (benefit from) income taxes 27,543 (23,490) 4,053 Net income $478,175 $30,463 $508,638 Diluted earnings per share $0.80 $0.85 Shares used in computing per share amounts 596,851 596,851 Twelve Months Ended March 31, 2006 Non-GAAP (1) Required GAAP Adjustments Continuing Operations: Net sales $15,287,976 $- $15,287,976 Gross profit 933,515 (185,631) 747,884 Selling, general and administrative expenses 463,946 - 463,946 Operating income 469,569 (223,446) 246,123 Intangible amortization - 37,160 37,160 Interest and other expense, net 83,734 (15,688) 68,046 Provision for (benefit from) income taxes (402) 54,620 54,218 Net income $417,339 $(276,177) $141,162 Diluted earnings per share $0.69 $0.24 Shares used in computing per share amounts 600,604 600,604 (1) See Schedule III for the reconciliation of non-GAAP financial measures to GAAP financial measures. SCHEDULE III FLEXTRONICS INTERNATIONAL LTD. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (1) (In thousands, except per share amounts) Three Months Ended Twelve Months Ended March 31, March 31, 2007 2006 2007 2006 GAAP gross profit $225,482 $156,860 $928,998 $747,884 Stock-based compensation expense 324 - 3,884 - Restructuring charges (2) 51,148 56,481 146,831 185,631 Non-GAAP gross profit $276,954 $213,341 $1,079,713 $933,515 GAAP SG&A expenses $146,249 $109,359 $549,615 $463,946 Stock-based compensation expense 8,126 - 27,884 - Restructuring and other charges (2) 2,077 - 11,696 - Non-GAAP SG&A expenses $136,046 $109,359 $510,035 $463,946 GAAP operating income $74,772 $39,833 $374,357 $246,123 Stock-based compensation expense 8,450 - 31,768 - Restructuring and other charges (2) 57,686 64,149 163,553 215,741 Other - executive separation costs (3) - - - 7,705 Non-GAAP operating income $140,908 $103,982 $569,678 $469,569 GAAP intangible amortization $13,569 $8,270 $37,089 $37,160 Intangible amortization 13,569 8,270 37,089 37,160 Non-GAAP intangible amortization $- $- $- $- GAAP interest and other expense, net $(64,748) $354 $12,315 $68,046 Intangible amortization 1,530 2,583 7,258 4,908 Other - foreign currency gain on liquidation (4) (79,844) (20,596) (79,844) (20,596) Non-GAAP interest and other expense, net $13,566 $18,367 $84,901 $83,734 GAAP provision for (benefit from) income taxes $5,277 $(5,694) $4,053 $54,218 Intangible amortization (5) (137) (1,737) (478) (246) Divestiture of operations (5) - - - 68,652 Restructuring and other charges (5) - (1,496) (23,012) (13,786) Non-GAAP provision for taxes $5,414 $(2,461) $27,543 $(402) GAAP net income $120,674 $42,948 $508,638 $141,162 Stock-based compensation expense 8,450 - 32,324 - Restructuring and other charges (2) 57,686 64,149 163,553 215,741 Intangible amortization 15,099 15,441 49,549 58,708 Gain on divestiture of operations - - (181,228) (67,569) Other - foreign currency gain on liquidation (4) (79,844) (20,596) (79,844) (20,596) Other - executive separation costs (3) - - - 7,705 Adjustment for taxes (5) (137) (3,977) (14,817) 82,188 Non-GAAP net income $121,928 $97,965 $478,175 $417,339 Diluted net income per share: GAAP $0.20 $0.07 $0.85 $0.24 Non-GAAP $0.20 $0.16 $0.80 $0.69 See the accompanying Notes on Schedule V of this press release. SCHEDULE IV FLEXTRONICS INTERNATIONAL LTD. AND SUBSIDIARIES UNAUDITED CONSOLIDATED BALANCE SHEETS (In thousands) March 31, 2007 March 31, 2006 ASSETS Current Assets: Cash and cash equivalents $714,525 $942,859 Accounts receivable, net 1,754,705 1,496,520 Inventories 2,562,303 1,738,310 Deferred income taxes 11,105 9,643 Current assets of discontinued operations - 89,509 Other current assets 548,409 620,095 5,591,047 4,896,936 1,998,706 1,586,486 Property and equipment, net Deferred income taxes 669,898 646,431 Goodwill and other intangibles, net 3,264,320 2,791,791 Non-current assets of discontinued operations - 574,384 Other assets 817,403 462,379 $12,341,374 $10,958,407 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Bank borrowings, current portion of long-term debt and capital lease obligations $8,385 $106,099 Accounts payable 3,440,845 2,758,019 Current liabilities of discontinued operations - 57,213 Other current liabilities 1,038,838 1,036,973 Total current liabilities 4,488,068 3,958,304 Long-term debt, net of current portion: Zero Coupon Convertible Junior Subordinated Notes due 2009 195,000 195,000 1 % Convertible Subordinated Notes due 2010 500,000 500,000 6 1/2 % Senior Subordinated Notes due 2013 399,650 399,650 6 1/4 % Senior Subordinated Notes due 2014 389,119 384,879 Other long-term debt and capital lease obligations 10,036 9,446 Non-current liabilities of discontinued operations - 30,578 Other liabilities 182,842 125,903 Total shareholders' equity 6,176,659 5,354,647 $12,341,374 $10,958,407 SCHEDULE V FLEXTRONICS INTERNATIONAL LTD. AND SUBSIDIARIES NOTES TO RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(1) Non-GAAP Financial Measures -- To supplement Flextronics' unaudited selected financial data presented on a basis consistent with Generally Accepted Accounting Principles ("GAAP"), the Company discloses certain non- GAAP financial measures that exclude certain charges, including non-GAAP gross profit, non-GAAP selling, general and administrative expenses, non-GAAP operating income, non-GAAP intangible amortization, non-GAAP interest and other expense, net, non-GAAP provision for (benefit from) income taxes, non- GAAP net income and non-GAAP net income per diluted share. These supplemental measures exclude, among other things, stock-based compensation expense, restructuring charges, intangible amortization, gains or losses on divestitures and certain other items. These non-GAAP measures are not in accordance with or an alternative for GAAP, and may be different from non-GAAP measures used by other companies. We believe that these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Flextronics' results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Flextronics' results of operations in conjunction with the corresponding GAAP measures. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP measures. We compensate for the limitations of our non-GAAP financial measures by relying upon our GAAP results to gain a complete picture of our performance.

In calculating our non-GAAP financial measures, we exclude certain items to facilitate our review of the comparability of the Company's operating performance on a period-to-period basis because such items are not, in our view, related to the Company's ongoing operational performance. We use non- GAAP measures to evaluate the operating performance of our business, for comparison with our forecasts and strategic plans, for calculating return on investment, and for benchmarking performance externally against our competitors. In addition, our management's incentive compensation is determined using these non-GAAP measures. Also, when evaluating potential acquisitions, we exclude the items described below from our consideration of the target's performance and valuation. Since we find these measures to be useful, we believe that our investors benefit from seeing our results "through the eyes" of management in addition to seeing our GAAP results. We believe that these non-GAAP measures, when read in conjunction with the Company's GAAP financials, provide useful information to investors by offering:

-- the ability to make more meaningful period-to-period comparisons of the Company's on-going operating results;

-- the ability to better identify trends in the Company's underlying business and perform related trend analysis;

-- a better understanding of how management plans and measures the Company's underlying business; and

-- an easier way to compare the Company's operating results against analyst financial models and operating results of our competitors that supplement their GAAP results with non-GAAP financial measures.

The following are explanations of each of the adjustments that we incorporate into our non-GAAP measures, as well as the reasons for excluding each of these individual items in our reconciliations of these non-GAAP financial measures:

Stock-based compensation expense consists of non-cash charges incurred as a result of the Company's adoption of SFAS 123R relating to the fair value of stock options and restricted stock units awarded to employees. The Company believes that the exclusion of these non-cash charges provides for more accurate comparisons of our operating results to our peer companies due to the varying available valuation methodologies, subjective assumptions and the variety of award types. In addition, the Company believes it is useful to investors to understand the specific impact the application of SFAS 123R has on its operating results.

Restructuring charges include severance, impairment, lease termination, exit costs and other charges primarily related to the closures and consolidations of various manufacturing facilities. These costs may vary in size based on the Company's restructuring activities, are not directly related to our ongoing or core business results, and do not reflect expected future operating expenses. These costs are excluded by the Company's management in assessing current operating performance and forecasting its earnings trends, and are therefore excluded by the Company from its non-GAAP measures.

Intangible amortization consists of non-cash charges that can be impacted by the timing and magnitude of our acquisitions. The Company considers its operating results without these charges when evaluating its ongoing performance and forecasting its earnings trends, and therefore excludes such charges when presenting non-GAAP financial measures. The Company believes that the assessment of its operations excluding these costs is relevant to its assessment of internal operations and comparisons to the performance of its competitors.

Gains or losses on divestiture of operations relate to discrete and unusual events associated with the sale of a non-core business of the Company. These gains or losses can vary significantly in size and do not reflect expected future operating impacts; therefore, it is useful to investors to highlight the specific results of these items on its operating results. The Company's management excludes these items when evaluating its ongoing performance and forecasting its earnings trends, and therefore excludes such charges when presenting non-GAAP net income.

Other charges or gains consist of various other types of items that are not directly related to our ongoing or core business results, such as executive separation costs or reversals of bankruptcy bad debt provisions. We exclude these items because they do not affect our core operations. Excluding these amounts provide investors with a basis to compare our company performance against the performance of other companies without this variability.

Adjustment for taxes relates to the tax effects of the various adjustments that we incorporate into our non-GAAP measures in order to provide a more meaningful measure on non-GAAP net income.

With the exception of net income and diluted earnings per share, the Unaudited Selected Financial Data as presented in Schedules I and II, and the reconciliations as presented in Schedule III and discussed further below represent results from continuing operations. Net income and diluted earnings per share represent results for both continuing and discontinued operations.

(2) During the three-month period ended March 31, 2007 the Company recognized restructuring charges primarily related to the closures and consolidations of various manufacturing facilities. During the twelve- month period ended March 31, 2007, the Company also recognized restructuring charges for impairment, lease termination, exit costs and other charges related primarily to the disposal and exit of certain real estate owned and leased by the Company in order to reduce its investment in property, plant and equipment. During the three and twelve-month periods ended March 31, 2006 the Company recognized restructuring charges primarily related to the closures and consolidations of various manufacturing facilities. (3) During the twelve-month period ended March 31, 2006, the Company recognized executive separation costs related to the retirement of Michael E. Marks from his position as Chief Executive Officer. (4) During the three and twelve-month periods ended March 31, 2007 and 2006, the Company recognized net foreign exchange gains related to the liquidation of certain international entities. (5) The Company recognized $137,000 and $1.8 million (including $1.3 million attributable to discontinued operations) in tax benefits related to the amortization of our intangible assets during the three and twelve- month periods ended March 31, 2007, and a tax benefit of $23.0 million related to its restructuring activities during the twelve-month period ended March 31, 2007. The Company also recognized a $10.0 million tax provision in discontinued operations related to the divestiture of its Software Development and Solutions business during the twelve-month period ended March 31, 2007. The Company realized $1.4 million and $13.8 million in tax benefits related to its restructuring activities during the three and twelve-month periods ended March 31, 2006, a tax benefit of $2.5 million and $2.9 million (including $744,000 and $2.7 million attributable to discontinued operations) related to the amortization of its intangible assets during the three and twelve-month periods ended March 31, 2006, and a tax provision of $98.9 million (including $30.3 million attributable to discontinued operations) related to the divestiture of its Semiconductor and Network Services division during the twelve-month period ended March 31, 2006. (6) Return on invested capital ("ROIC") divides after-tax non-GAAP operating income by an average of net invested capital. After-tax non- GAAP operating income includes after-tax operating income from divested businesses, and excludes intangible amortization, stock-based compensation expense, restructuring and other charges. Net invested capital is defined as total assets less current liabilities and non- operating assets. Non-operating assets include cash and cash equivalents, short-term investments, notes receivable, deferred income tax assets, net hedging assets, and other non-operating assets. We believe ROIC is a useful measure in providing investors with information regarding our performance. ROIC is a widely accepted measure of earnings efficiency in relation to total capital employed. We believe that increasing the return on total capital employed, as measured by ROIC, is an effective method to sustain and increase shareholder value. ROIC is not a measure of financial performance under generally accepted accounting principles in the U.S., and may not be defined and calculated by other companies in the same manner. ROIC should not be considered in isolation or as an alternative to net earnings as an indicator of performance. The following table reconciles ROIC as calculated using after-tax non- GAAP operating income to the same performance measure calculated using the nearest GAAP measure, which is GAAP operating income from continuing operations adjusted for taxes: Fiscal Years Ended March 31, ROIC 2007 2006 Non-GAAP 10.4% 9.8% Restructuring and other charges -3.4% -4.2% Discontinued operations -0.4% -0.9% GAAP 6.6% 4.7% ROITC Non-GAAP 29.1% 31.5% Restructuring and other charges -21.8% -13.6% Discontinued operations -1.7% -2.2% GAAP 5.6% 15.7%

Flextronics International Ltd.

CONTACT: Thomas J. Smach, Chief Financial Officer, +1-408-576-7722, or
investor_relations@flextronics.com, or Renee Brotherton, Senior Director of
Corporate Marketing, +1-408-576-7189, or renee.brotherton@flextronics.com,
both of Flextronics

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

Coherent, Inc. Reports Selected Financial Information for the Second Fiscal Quarter 2007Results Include Higher Sales and Orders

SANTA CLARA, Calif., April 26 /PRNewswire-FirstCall/ -- Coherent, Inc. today announced unaudited selected financial results for its second fiscal quarter 2007 ended March 31, 2007.

Net sales for the second quarter of fiscal 2007 totaled $152.1 million, an increase of 4.2% compared to $146.0 million reported in the second quarter of fiscal 2006 and a sequential increase of 3.1% as compared to $147.6 million in the first quarter of fiscal 2007.

Orders received during the quarter ended March 31, 2007 of $151.9 million increased 3.8% from the same prior year period and increased 11.5% compared to the immediately preceding first quarter of fiscal 2007, resulting in a book to bill ratio of 1.0. Backlog was $189.3 million at March 31, 2007 compared to a backlog of $189.8 million at December 30, 2006 and $191.5 million at April 1, 2006.

At March 31, 2007, Coherent's cash, cash equivalents and short-term investments totaled $527.0 million representing an increase of $5.1 million compared to the prior quarter ended December 30, 2006.

"We are pleased by the overall orders performance in our second fiscal quarter. In particular, incoming orders for the materials processing and instrumentation markets were exceptional. These results serve to highlight the breadth and depth of our product portfolio and the benefits of market diversification," said John Ambroseo, Coherent's President and Chief Executive Officer. "We plan to continue to develop this philosophy through internal product development and strategic initiatives," he added.

Ambroseo continued, "Our recently announced acquisition of Nuvonyx provides additional growth opportunities in the materials processing market. The combination of design simplicity and lower cost of ownership offered by direct diode platforms provides customers a compelling competitive advantage in the marketplace."

As previously mentioned, during the fourth fiscal quarter 2006 and the first fiscal quarter 2007 press releases, Coherent initiated an independent review by a special committee of its board of directors of the company's historical stock option practices and related accounting. The company requested the independent review following an internal review of its historical stock option practices, which was a voluntary review initiated in light of news of the option practices of numerous companies across several industries. Independent counsel and advisors are assisting the special committee with its review. At this time, Coherent has not determined if it needs to record any non-cash adjustments related to prior stock option grants or to restate any of its previously filed financial statements. The company will provide only selected financial information while the special committee completes its review.

Coherent's conference call scheduled for 1:30 p.m. PT today will include discussions relative to the current selected financial information and some comments regarding forward looking guidance on future operating performance.

The statements in this press release that relate to future plans, events or performance, including statements such as these results serve to highlight the breadth and depth of our product portfolio and the benefits of market diversification, we plan to continue to develop this philosophy through internal product development and strategic activity, and our recently announced acquisition of Nuvonyx provides additional growth opportunities in the materials processing market, and the combination of design simplicity and lower cost of ownership offered by direct diode platforms provides customers a compelling competitive advantage in the marketplace, are forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties, including risks associated with general market and business conditions, the successful integration of the Nuvonyx acquisition, currency adjustments, contract cancellations, customer payments and acceptance of our products, manufacturing risks, competitive factors, and uncertainties pertaining to customer orders, demand for products and services, and development of markets for the company's products and services, the final conclusions of the special committee (and the timing of such conclusions) concerning matters relating to the company's stock option grants and other risks identified in the company's SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to update these forward-looking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. As noted above, a special committee of the board of directors has initiated an independent review regarding the company's historical stock option practices and related accounting. There can be no assurance that the outcome of this review will not result in a change to or restatement of financial results provided by Coherent for this or any historical period. In addition, the review and possible conclusions may have an impact on the amount and timing of previously awarded stock-based compensation and other additional expenses to be recorded; accounting adjustments to the company's financial statements for the periods in question; the company's ability to file required reports with the SEC on a timely basis; the company's ability to meet the requirements of the Nasdaq Stock Market for continued listing of its shares; potential claims and proceedings relating to such matters, including shareholder litigation and action by the SEC and/or other governmental agencies; and negative tax or other implications for the company resulting from any accounting adjustments or other factors.

Readers are encouraged to refer to the risk disclosures described in the company's Registration Statement on Form S-3 (as amended and filed with the SEC on October 4, 2006) and the reports on Forms 10-K, 10-Q and 8-K, as applicable and as filed from time-to-time by the company.

Founded in 1966, Coherent, Inc. is a Standard & Poor's SmallCap 600 company and a world leader in providing photonics based solutions to the commercial and scientific research markets. Please direct any questions to Leen Simonet, Chief Financial Officer at 408-764-4161. For more information about Coherent, visit the company's Web site at http://www.coherent.com/ for product and financial updates.

Coherent, Inc.

CONTACT: Leen Simonet, +1-408-764-4161

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

Image Sensing Systems Announces First Quarter Financial Results

SAINT PAUL, Minn., April 26 /PRNewswire-FirstCall/ -- Image Sensing Systems, Inc. (ISS) , announced today financial results for its first quarter ended March 31, 2007, marking the twentieth consecutive quarter of profitability for the company.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050512/CGISSLOGO)

Net income for the quarter increased 11% to $556,000 ($.14 per fully diluted share) compared to $503,000 ($0.13 per fully diluted share) for the comparable period in 2006. Revenues for the first quarter were $2.6 million, the same as the comparable period a year ago. Revenue from royalty income increased 5% to $2.3 million from $2.2 million in the first quarter of 2006 and reflects the continued success that ISS's North American distributor, Econolite Control Products, Inc. (ECPI), has had in selling Autoscope products in the United States and Canada. International sales for the first quarter of 2007 were $353,000 compared to $413,000 in the first quarter of 2006.

Jim Murdakes, Chairman and CEO, said, "Considering the typical seasonally slow first quarter, we are satisfied with our results. We kicked off our new Terra Autoscope line of products with an announcement in March and shipments are planned of our core Solo Terra and RackVision Terra products for North American markets in the coming quarter.

"Because of our tiered manufacturing and distribution, there are boundaries to our direct control of sales processes. Therefore, as we transition to the Terra line, we have increased uncertainty and unpredictability as to the ramp up of Terra sales versus the tail off of older products. As such, we are carefully watching expenses. Operating expenses increased 11% over the comparable period a year ago; however, most of the increase is due to adding engineering resources for new product development in the second half of 2006."

Headquartered in St. Paul, Minnesota, Image Sensing Systems, Inc. combines expertise in image processing, hardware and software engineering and communications to develop Autoscope(R) video detection systems for advanced traffic management and control applications. With equipment supplied for over 50,000 cameras in more than 55 countries, we are a global leader in video detection for management and safety systems for highways, bridges, tunnels and intersections. Autoscope products provide transportation managers the means to reduce roadway congestion, improve safety and security, gain cost efficiencies and assist in roadway planning.

Safe Harbor Statement: Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management's current expectations or beliefs, and are subject to risks and uncertainties that could cause actual results or events to vary from stated expectations, which variations could be material and adverse. Factors that could produce such a variation include, but are not limited to, the following: the inherent unreliability of earnings, revenue and cash flow predictions due to numerous factors, many of which are beyond the Company's control; developments in the demand for the Company's products and services; relationships with the Company's major customers and suppliers; unanticipated delays, costs and expenses inherent in the development and marketing of new products and services; the impact of governmental laws and regulations; and competitive factors. Our forward-looking statements speak only as of the time made, and we assume no obligation to publicly update any such statements. Additional information concerning these and other factors that could cause actual results and events to differ materially from the Company's current expectations are contained in the Company's Form 10-K for the year ended December 31, 2006.

Image Sensing Systems, Inc. Unaudited Consolidated Statement of Income (in thousands, except per share information): Three-Month Period Ended March 31 2007 2006 Revenue Royalty income $2,291 $2,176 International sales 353 413 2,644 2,589 Cost of revenue Royalty fee - 103 Cost of sales 127 177 127 280 Gross profit 2,517 2,309 Operating expenses Selling, marketing and product support 685 622 General and administrative 570 562 Research and development 594 482 1,849 1,666 Income from operations 668 643 Other income 138 97 Income before income taxes 806 740 Income taxes 250 237 Net income $556 $503 Net income per common share Basic $0.15 $0.14 Diluted $0.14 $0.13 Weighted average shares outstanding Basic 3,774 3,705 Diluted 3,888 3,898 Image Sensing Systems, Inc. Unaudited Condensed Consolidated Balance Sheet (in thousands) March 31, December 31, 2007 2006 Assets Current assets Cash and cash equivalents $12,580 $11,626 Investments 3,100 4,100 Receivables 2,948 2,957 Inventories 913 670 Prepaid expenses and deferred taxes 347 299 19,888 19,652 Property and equipment, net 461 522 Goodwill 1,050 1,050 $21,399 $21,224 Liabilities and Shareholders' Equity Current liabilities Accounts payable and accrued expenses $1,072 $1,652 Income taxes payable 352 231 1,424 1,883 Deferred income taxes 28 8 Shareholders' equity 19,947 19,333 $21,399 $21,224 Image Sensing Systems, Inc. Unaudited Condensed Consolidated Statement of Cash Flows (in thousands) Three-Month Period Ended March 31 2007 2006 Operating activities Net income $556 $503 Adjustments to reconcile net income to net cash provided by operations Depreciation and amortization 57 83 Stock option expense 29 43 Changes in operating assets and liabilities (722) 1,220 Net cash provided by (used in) operating activities (80) 1,849 Investing activities Purchase of property and equipment, net of disposals 4 (94) Sale (purchase) of short-term investments 1,000 (1,800) Net cash used in investing activities 1,004 (1,894) Financing activity - proceeds from exercise of stock options 30 26 Increase (decrease) in cash and cash equivalents 954 (19) Cash and cash equivalents, beginning of period 11,626 9,006 Cash and cash equivalents, end of period $12,580 $8,987

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20050512/CGISSLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com Image Sensing Systems, Inc.

CONTACT: Greg Smith, Chief Financial Officer of Image Sensing Systems,
Inc., +1-651-603-7700

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

American Airlines Introduces txtSAAverCustomers in Dallas/Fort Worth Can Now Receive Fare Specials Directly to Text-Enabled Cell Phones

FORT WORTH, Texas, April 26 /PRNewswire-FirstCall/ -- American Airlines, the world's largest airline and a founding member of the oneworld(R) Alliance, is making it easier than ever for customers to find out about fare sales -- now via any text-enabled cell phone.

New txtSAAver(SM) fare messages are now available for customers in the Dallas/Fort Worth market as part of American's first-phase roll out. Customers can sign up to receive a text message with fare sale information and special offers from American each week. The text specials will come from American's weekly NetSAAver(R) fares, which are sent to millions of customers every Tuesday. American is the first airline to offer this unique service.

To sign up for the service, users will need to log on to http://www.aa.com/textsaaver, fill in their information and hit "enroll." Once registered, they will start receiving a txtSAAver message each week.

How It Works -- Customers visit http://www.aa.com/textsaaver and register to receive txtSAAver messages. Verizon, Sprint, Nextel, Alltel and Virgin customers can also enroll by texting "AA" to the short code 22898 (AATXT). -- Once registered, customers will receive one text message per week, which includes that week's txtSAAver fares as well as an additional special offer from American. Standard messaging rates can apply. -- Customers can then book txtSAAver fares at http://www.aa.com/txt.

"We're excited to offer customers a new way to receive weekly specials from American," said Rob Friedman, American's Managing Director -- Interactive Marketing. "Our research shows that 80 percent of our customers carry a cell phone, so this is a logical way to reach out to them, providing information they want from the convenience of their phone."

In addition to great fares, each week American will feature an AAdvantage(R) frequent flyer program special offer. As part of this program, American has set up Wireless Application Protocol (WAP) content that includes a full list of the week's txtSAAver fares, special offers, flight status and feature -- rich media content, including a commercial video.

For Terms and Conditions and more information, visit http://www.aa.com/ . About AA.com

The American Airlines Web site, http://www.aa.com/, is the best place to do business online with American. AA.com provides numerous ways to conveniently search for and book low fares and award travel, select seats, make hotel, rental car and cruise reservations, get flight arrival/departure information, sign up for flight status notification, and even check in and print boarding passes. Customers who purchase tickets on AA.com earn AAdvantage(R) bonus miles with each ticket purchased, get a lowest-fare guarantee (see http://www.aa.com/guarantee), and don't pay an online booking fee. Additionally, customers who log in with an AAdvantage number and password can manage their AAdvantage account online and also receive personalized news and specials. AA.com twice has received the World Travel Award for World's Leading Airline Internet Site and has also received multiple Web site awards from various organizations.

About American Airlines

American Airlines is the world's largest airline. American, American Eagle and the AmericanConnection(R) airlines serve 250 cities in over 40 countries with more than 4,000 daily flights. The combined network fleet numbers more than 1,000 aircraft. American Airlines is a founding member of the oneworld(R) Alliance, which brings together some of the best and biggest names in the airline business, enabling them to offer their customers more services and benefits than any airline can provide on its own. Together, its members serve more than 700 destinations in over 140 countries and territories. American Airlines, Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR Corporation .

AmericanAirlines, American Eagle, AmericanConnection, AA.com, AAdvantage, NetSAAver and We know why you fly are registered trademarks and txtSAAver is a service mark of American Airlines, Inc.

AmericanAirlines(R) We know why you fly(R) Current AMR Corp. releases can be accessed on the Internet. The address is http://www.aa.com/

American Airlines

CONTACT: Billy Sanez, Corporate Communications of American Airlines,
+1-817-967-1577, corp.comm@aa.com

Web site: http://www.aa.com/
http://www.aa.com/guarantee
http://www.aa.com/txt
http://www.aa.com/textsaaver

Sun Labs' Open House 2007 Spotlights InnovationHPC Programming Languages, Multi-Terabit Data Center Interconnect, Solaris(TM) Operating System (PowerPC Platform Edition), and Other Projects to be Discussed

SANTA CLARA, Calif., April 26 /PRNewswire-FirstCall/ -- Sun Microsystems today opened the doors of Sun Labs for its annual Open House. Founded in 1991, Sun Labs is an applied research facility and an integral part of Sun's overall research and development program. The birthplace of many of Sun's most successful innovations, Labs researchers tackle the most challenging computing, information technology and engineering issues -- everything from next-generation Java(TM) programming technology and embedded Solaris(TM) Operating System (OS) (PowerPC Platform Edition) to designing high productivity computing (HPC) systems utilizing proximity communication.

Open House attendees will have access to talks by 20 of Sun's leading research scientists and more than 25 technology demonstrations, allowing interaction with Sun Fellows and Distinguished Engineers as well as a behind- the-scenes view of Sun's most innovative research. Sun Fellow and Chief Security Officer Whitfield Diffie and Sun Distinguished Engineer Susan Landau will be on-hand at the event to sign copies of their new book Privacy on the Line. Sun Labs Senior Staff Engineer Ron Goldman will also be signing copies of his Innovation Happens Elsewhere, co-authored with Richard Gabriel.

"The mission of Sun Labs is to look beyond the horizon to identify and solve the hardest technical problems businesses and governments may face. We identify these challenges by working closely with customers and engineers from within Sun's business units to gauge customer needs, and then collaborating on solutions," said Bob Sproull, director of Sun Labs and a Sun Fellow. "By focusing specifically on customer problems ranging from extending the lifespan of Moore's Law to applying next-generation security to mobile devices, Sun Labs has delivered measurable and results-oriented innovation throughout its history."

"For more than fifteen years, as Sun has built its reputation as one of Silicon Valley's most innovative companies, Sun Labs has provided a home for many of the company's most innovative thinkers," observed Nathan Brookwood, research fellow at Insight 64. "Every time I visit Sun Labs, I feel like I am walking among giants. Sun clearly has mastered the arts of attracting talented contributors, nurturing their ideas in the laboratory, and then -- unlike some ivory tower research groups -- successfully commercializing their inventions."

Projects on display at the 2007 Sun Labs Open House include: -- Project Fortress -- A new programming language invented at Sun Labs specifically for high productivity computing (HPC) applications -- Project Sedna -- A multi-terabit data center interconnect based on proximity communication (chip-to-chip data transfer without wires) -- Project Darkstar -- A Java technology-based game server technology that helps solve many of the distributed computing problems associated with modern online gaming -- MPK 20 -- Sun's Virtual Workspace, powered by Project Darkstar, this "serious game" is the basis for research into collaborative work environments -- Search Inside the Music -- Advanced search capabilities for music that give users a more holistic sense of their collections, enables users to visually see their music collection in 3-D, and to search by the aural properties of the songs -- Project Pulsar -- Highlighting the second code release of Solaris OS on PowerPC to the OpenSolaris(TM) Operating System community -- Project Sun SPOT -- An experimental platform for developing wireless sensor, robotics and swarm intelligence applications entirely in Java; Sun SPOT Developer Kit available at http://www.sunspotworld.com/ For more information about Sun Labs, please visit: http://research.sun.com/ About Sun Microsystems, Inc.

A singular vision -- "The Network Is The Computer"(TM) -- guides Sun in the development of technologies that power the world's most important markets. Sun's philosophy of sharing innovation and building communities is at the forefront of the next wave of computing: the Participation Age. Sun can be found in more than 100 countries and on the Web at sun.com. Subscribe to Sun newswire at http://sun.com/news.

Copyright 2007 Sun Microsystems, Inc. All rights reserved. Sun, Sun Microsystems, the Sun logo, Java, Solaris, OpenSolaris, and The Network Is The Computer are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries.

FOR MORE INFORMATION Carolyn Rohrer Sun Microsystems, Inc. 415-294-5084 carolyn.rohrer@sun.com Kate Wesson Bite Communications 415-365-0458 kate.wesson@bitepr.com allpress@sun.com 650-786-7737

Sun Microsystems, Inc.

CONTACT: Carolyn Rohrer of Sun Microsystems, Inc., +1-415-294-5084,
carolyn.rohrer@sun.com; or Kate Wesson of Bite Communications,
+1-415-365-0458, kate.wesson@bitepr.com, for Sun Microsystems, Inc.

Web site: http://sun.com/

Diebold Re-Elects Board Members, Declares Cash Dividend

NORTH CANTON, Ohio, April 26 /PRNewswire-FirstCall/ -- Shareholders of Diebold, Incorporated today re-elected the board of directors at the company's annual meeting. In addition, the board declared the second- quarter cash dividend and re-elected company officers.

DIRECTORS RE-ELECTED Re-elected to the board of directors were:

-- Louis V. Bockius III, retired chairman, Bocko Incorporated, North Canton, Ohio. -- Phillip R. Cox, president and chief executive officer, Cox Financial Corporation, Cincinnati. -- Richard L. Crandall, managing partner, Aspen Partners, LLC, Aspen, Colo. -- Gale S. Fitzgerald, director, TranSpend, Inc., Palm Bay, Fla. -- Phillip B. Lassiter, retired chairman of the board and chief executive officer, Ambac Financial Group, Inc., New York City. -- John N. Lauer, non-executive chairman of the board, Diebold, Incorporated, Canton, Ohio. -- Eric J. Roorda, former chairman, Procomp Amazonia Industria Eletronica, S.A., Sao Paulo, Brazil. -- Thomas W. Swidarski, president and chief executive officer, Diebold, Incorporated, Canton, Ohio. -- Henry D.G. Wallace, former group vice president and chief financial officer, Ford Motor Company, Detroit. -- Alan J. Weber, retired chairman and chief executive officer, U.S. Trust Corporation, New York City. DIEBOLD DECLARED CASH DIVIDEND

The board of directors declared a second-quarter cash dividend of 23.5 cents per share on all common shares. The dividend is payable on Friday, June 1, to shareholders of record at the close of business on Friday, May 11.

OFFICERS NAMED

In addition, the board of directors re-elected the corporate officers: Thomas W. Swidarski, president and chief executive officer; Kevin J. Krakora, executive vice president and chief financial officer; David Bucci, senior vice president, customer solutions group; James L. M. Chen, senior vice president, EMEA/AP divisions; Charles E. Ducey, Jr., senior vice president, global development and services; George S. Mayes, Jr., senior vice president, global manufacturing and supply chain; Dennis M. Moriarty, senior vice president, global security division; John M. Crowther, vice president, chief information officer; Warren W. Dettinger, vice president, general counsel and secretary; M. Scott Hunter, vice president, chief tax officer; John D. Kristoff, vice president, chief communications officer; Michael R. Moore, vice president and corporate controller; William E. Rosenberg, vice president, corporate development; Sheila M. Rutt, vice president, chief human resources officer; and Robert J. Warren, vice president and treasurer.

About Diebold

Diebold, Incorporated is a global leader in providing integrated self- service delivery and security systems and services. Diebold employs more than 15,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold reported revenue of $2.9 billion in 2006 and is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's Web site at http://www.diebold.com/.

Diebold, Incorporated

CONTACT: Media Relation, Mike Jacobsen, +1-330-490-3796,
Jacobsm1@diebold.com, or Investor Relations, Jennifer Bako, +1-330-490-6318,
bakoj@diebold.com

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

Baker's GSA Consolidated Multiple Award Schedule Extended

PITTSBURGH, April 26 /PRNewswire-FirstCall/ -- Michael Baker Jr., Inc., an engineering unit of Michael Baker Corporation , announced today that the General Services Administration (GSA) has exercised Baker's option to extend the term of its Consolidated Multiple Award Schedule, Contract No. GS- 00F-0032M, for an additional five-year period from May 1, 2007, to January 31, 2012. Under its Consolidated Schedule Contract, Baker provides Professional Engineering Services (PES), Environmental Services, Information Technology Services, Mission Oriented Business Integrated Services (MOBIS), and Facilities Management and Maintenance Services (Energy Management) throughout the continental United States. Baker's Consolidated Schedule Contract can be accessed by any federal agency, D.C. government, various international organizations, and state and local governments (for Presidential-declared disaster recovery efforts and IT products and services only). Baker generated more than $68 million in revenues during the first, five-year Consolidated Schedule Contract period that ends April 30, 2007.

(Logo: http://www.newscom.com/cgi-bin/prnh/20061214/BAKERLOGO )

"The GSA Schedule Program is unique in its ability to provide numerous federal, state, and local government customers with an array of technical expertise under a single contract with pre-negotiated labor rates, labor categories, and terms and conditions," said Baker's Michelle Hertz, vice president, federal contracts. "Baker has established and maintained valuable relationships with a variety of agencies through our Consolidated Schedule Contract. It has proven to be an efficient and effective tool for both our internal and external customers by providing flexibility, shorter procurement time, and ease of use. Baker appreciates the opportunity to strengthen these customer relationships via the Consolidated GSA Schedule over the next five years."

Michael Baker Corporation (http://www.mbakercorp.com/) provides engineering and operations and maintenance services for its clients' most complex challenges worldwide. The firm's primary practice areas are aviation, environmental, facilities, geospatial information technologies, pipelines & telecommunications, transportation, water/wastewater, and oil & gas. With more than 5,000 employees in over 40 offices across the United States and internationally, Baker is focused on providing services that span the complete life cycle of infrastructure and managed asset projects.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20061214/BAKERLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Michael Baker Corporation

CONTACT: David Higie of Michael Baker Corporation, +1-412-269-6449

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

NVIDIA Announces First Quarter Earnings Conference Call

SANTA CLARA, Calif., April 26 /PRNewswire-FirstCall/ -- NVIDIA Corporation will host a conference call to discuss its financial results for the first quarter of its fiscal year 2008 on May 10, 2007 at 2:00 PM, Pacific Time. The Company's prepared remarks will be followed by a question and answer period, which will be limited to questions from financial analysts and institutional investors.

(Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020613/NVDALOGO )

To listen to the conference call, please dial 706-679-0543; no password is required. The conference call will also be Web cast live (listen-only mode) at the following Web sites: http://www.nvidia.com/ and http://www.streetevents.com/.

The press release announcing the Company's results will be distributed over a national wire service prior to the conference call. The press release will also be posted at the Company's Web site: http://www.nvidia.com/.

Replay of the conference call will be available via telephone by calling 800-642-1687 (or 706-645-9291), passcode 7592093, until May 17, 2007. The Web cast will be recorded and available for replay until the Company's conference call to discuss its financial results for its second quarter fiscal 2008.

About NVIDIA

NVIDIA Corporation is the worldwide leader in programmable graphics processor technologies. The Company creates innovative, industry-changing products for computing, consumer electronics, and mobile devices. NVIDIA is headquartered in Santa Clara, CA and has offices throughout Asia, Europe, and the Americas. For more information, visit http://www.nvidia.com/.

NOTE: All company and/or product names may be trade names, trademarks and/or registered trademarks of the respective owners with which they are associated.

For further information, contact: Michael Hara Calisa Cole Investor Relations Corporate Communications NVIDIA Corporation NVIDIA Corporation (408) 486-2511 (408) 486-6263 mhara@nvidia.com ccole@nvidia.com

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020613/NVDALOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com NVIDIA Corporation

CONTACT: Michael Hara, Investor Relations, +1-408-486-2511, or
mhara@nvidia.com, or Calisa Cole, Corporate Communications, +1-408-486-6263,
or ccole@nvidia.com, both of NVIDIA Corporation

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

Overstock.com Cars Forms Alliance With CarfaxAddition of the Carfax Vehicle History Reports Will Assist Automobile Shoppers in Making a Well Informed Buying Decision When Visiting Overstock.com Cars

SALT LAKE CITY, April 26 /PRNewswire-FirstCall/ -- Internet retailer Overstock.com (http://www.overstock.com/) today began offering its online vehicle shoppers the opportunity to check a car's history. Carfax Vehicle History Reports have been integrated into its newly developed Cars Program (http://cars.overstock.com/) and are available free to anyone shopping for a used car on the site. Overstock.com already boasts more than 450,000 new and used cars listed on its Web site.

"By teaming up with Carfax, we're now able to offer our customers a better automotive shopping experience," said Overstock.com CEO Patrick Byrne. "Anyone looking for their next used car through the Overstock.com Cars Program now can immediately access the vehicle's history report and see details such as mileage, service and especially, ownership history, which enhances our listings and helps our customers make smarter, faster buying decisions."

Overstock.com will also be identifying automobiles that have only had one previous owner by using the Carfax One Owner program. All vehicles with one previous owner will be recognizable by the one-owner icon next to the listing.

Overstock.com offers automobile shoppers a wide variety of vehicles to choose from by listing vehicles from new and used car dealers nationwide. Carfax was selected by Overstock.com as its vehicle history provider because Carfax is a recognized and trusted brand.

"We believe Carfax Vehicle History Reports should be available to consumers anywhere used cars are sold," said Larry Gamache, communications director at Carfax. "With more people shopping online than ever before, Carfax and Overstock.com are ensuring our customers that the information they need to buy with confidence is readily available with the simple click of a mouse."

About Overstock.com

Overstock.com, Inc. (http://www.overstock.com/) is an online "closeout" retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com/.

About Carfax

Millions of consumers rely on the most trusted provider of vehicle history information, Carfax, each year. Using the unique 17-character vehicle identification number (VIN) found on vehicle dashboards and title documents, Carfax instantly generates a detailed Vehicle History Report on any used car or light truck. Carfax Vehicle History Reports(TM) provide information that can impact a consumer's decision about a used car or truck. Carfax is a wholly-owned subsidiary of R.L. Polk & Co. For more information, visit http://www.carfax.com/.

Overstock.com

CONTACT: Media, Jared Matkin, +1-801-947-3880, jmatkin@overstock.com, or
Investors, Kevin Moon, +1-801-947-3282, kmoon@overstock.com, both of
Overstock.com, Inc.

Web site: http://cars.overstock.com/

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

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

Media advisory - CGI to Release Second Quarter Fiscal 2007 Results on May 2Stock Market Symbols GIB.A (TSX) GIB (NYSE)

MONTREAL, April 26 /PRNewswire-FirstCall/ -- CGI Group Inc. (TSX: GIB.A; NYSE: GIB) will release results for its second quarter fiscal 2007, ended March 31, 2007 before the stock markets open on Wednesday, May 2, 2007. Management will host a conference call and question-and-answer session to discuss the quarter that day at 9:00 a.m. (EDT). Participants will include President and Chief Executive Officer Michael E. Roach as well as David Anderson, Executive Vice-President and Chief Financial Officer.

Who: CGI Group Inc. What: Second Quarter Fiscal 2007 Results When: Wednesday, May 2, 2007 at 9:00 a.m. (EDT) Conference Call: 1-866-542-4236 Webcast: A live webcast of the quarterly results conference call may be accessed through the Company's website http://www.cgi.com/ where a replay will also be archived. Listeners should allow ample time to access the webcast. As well, reference slides will be available for download shortly before the beginning of the call. Podcast: An MP3 version will be available for download later in the day. RSS Feed: Subscribe via our site to receive the latest news releases and podcasts: http://www.cgi.com/web/en/media_room/rss_podcast_feeds.htm About CGI

Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 25,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annualized revenue run rate stands at $3.6 billion (US$3.1 billion) and at December 31st, 2006, CGI's order backlog was $12.6 billion (US$10.9 billion). CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: http://www.cgi.com/.

CGI GROUP INC.

CONTACT: Investor Relations: Lorne Gorber, Vice-President, Global
Communications and Investor Relations, (514) 841-3355; Media Relations:
Philippe Beauregard, Director, Corporate Communications and Public Affairs,
(514) 841-3218

Merchant Link's TransactionVault(TM) Receives PABP Certification from Visa InternationalPOS Security Solution Helps Merchants Protect Consumer Data Against Hacker Threats and Comply with Complex Industry Standards

SILVER SPRING, Md., April 26 /PRNewswire/ -- Merchant Link, provider of the leading comprehensive, secure payments data storage and interface network for retailers, today announced that its TransactionVault product has been validated by Visa USA as a Payment Application Best Practice (PABP).

The validation, part of Visa's ongoing Cardholder Information Security Program, applies to the MICROS RES 3000 version 3.2 Service Pack 7 Hot Fix 5 and can now be found on the list of validated payment applications at http://www.visa.com/cisp.

Creating Technologies to Secure Customer Data

TransactionVault is an innovative security solution that safeguards consumers' payment card and personal information by moving data from a merchant's POS (point-of-sale) system to Merchant Link's monitored, secure and fully Payment Card Industry (PCI) compliant environment.

"Compliance with evolving PCI security standards continues to be a huge issue for the merchant community, particularly in light of recent hacker attacks and fraudulent use of stolen payment card numbers," said Christopher Justice, president, Merchant Link. "Incorporating TransactionVault and other best practices will help merchants protect their customers and grow their businesses, while meeting the complex industry standards."

Driving Advances in the Restaurant and Lodging Industry

In November 2006, MICROS Systems, Inc., , the world's leading provider of information technology solutions for the hospitality and specialty retail industries, partnered with Merchant Link to launch TransactionVault as part of its industry-leading Restaurant Enterprise Series point-of-sale solution (versions 3.2 and 4.1).

"MICROS is dedicated to offering its clients products that comply with all industry security standards," added Tom Giannopoulos, chairman and chief executive, MICROS Systems, Inc. "Through our partnership with Merchant Link's TransactionVault technology, we look forward to continuing to provide best-of- breed solutions that meet all security guidelines set forth by industry consortiums."

Visa established certified PABPs to assist in the creation of secure payment applications that help ensure merchant compliance with Payment Card Industry Data Security Standards (PCI-DSS). In December 2006, Visa announced the Visa PCI Compliance Acceleration Program, which created new sanctions for merchants and acquirers in an effort to further merchant compliance with PCI standards.

About Merchant Link, LLC

Merchant Link provides comprehensive, secure solutions to the integrated point-of-sale industry, including high-end technical support and data transport services. Merchant Link currently supports more than 100,000 hotels, restaurants, ballparks, and other venues, and maintains connectivity to the major U.S. payment card processors.

Founded in 1993 and headquartered in Silver Spring, Md., Merchant Link handles more than one billion transactions annually. Merchant Link has clients in all 50 states, Antarctica, Canada, Bermuda, South Korea and Japan. Visit http://www.merchantlink.com/ for more information.

About MICROS

MICROS Systems, Inc. provides enterprise applications for the hospitality and retail industries worldwide. Over 220,000 MICROS systems are currently installed in table and quick service restaurants, hotels, motels, casinos, leisure and entertainment, and retail operations in more than 130 countries, and on all seven continents.

In addition, MICROS provides property management systems, central reservation and customer information solutions under the brand MICROS-Fidelio for more than 20,000 hotels worldwide, as well as point-of-sale and loss prevention products through its subsidiary Datavantage for more than 50,000 specialty retail stores worldwide. MICROS stock is traded through NASDAQ under the symbol MCRS.

For more information on MICROS and its advanced information technology solutions for the hospitality industry, please contact Louise Casamento, vice president of marketing, at (443) 285-8144 or (866) 287-4736. Editors can also visit the MICROS website at http://www.micros.com/ or send an email to info@micros.com.

Merchant Link

CONTACT: Seth Eisen of MS&L for Merchant Link, +1-212-468-3978,
seth.eisen@mslpr.com

Web site: http://www.merchantlink.com/
http://www.micros.com/
http://www.visa.com/cisp

LoJack Corp. Announces First Quarter, 2007 Results Webcast

WESTWOOD, Mass., April 26 /PRNewswire-FirstCall/ -- LoJack Corporation announces the following Webcast:

What: LoJack Corp reports first quarter, 2007 results When: May 2 -- 09:00 EDT Where: http://www.videonewswire.com/event.asp?id=39500 How: Live over the Internet -- Simply log on to the web at the address above.

You may also participate in the live conference call by dialing, +1-800-896-8445. Use the password lojack2 for access to the call.

Contact: Paul McMahon of LoJack, +1-781-251-4130, pmcmahon@lojack.com

If you are unable to participate during the live webcast, the call will be archived at http://www.lojack.com.

About LoJack Corporation

LoJack Corporation, the premier worldwide marketer of wireless tracking and recovery systems for valuable mobile assets, is the undisputed leader in global stolen vehicle recovery. Its Stolen Vehicle Recovery System delivers a better than 90% success rate and has helped recover more than $4 billion in global assets. The system is uniquely integrated into law enforcement agencies in the United States that use LoJack's in-vehicle tracking equipment to recover stolen assets, including cars, trucks, commercial vehicles, construction equipment and motorcycles. Today LoJack operates in 26 states and the District of Columbia, representing areas of the country with the greatest population density, and highest number of new vehicle sales and incidence of vehicle theft. In addition, LoJack technology is utilized by law enforcement and security organizations in more than 29 countries throughout Europe, Africa, Latin America and Asia.

Audio: http://www.videonewswire.com/event.asp?id=39500 LoJack Corporation

CONTACT: Paul McMahon of LoJack, +1-781-251-4130, pmcmahon@lojack.com

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

'Is Your Family Set?' Campaign Rolls Into SeattleCampaign aims to educate community on Parental Controls and video game ratings

SEATTLE, April 26 /PRNewswire-FirstCall/ -- Microsoft Corp.'s Family Gaming bus arrived in Seattle for a three-day tour starting at the Rotary Boys & Girls Club today and ending at the Seattle Mariner's game on Saturday. The bus tour is part of a national campaign called "Safety is no game. Is your family set?" whose goal is to help parents and caregivers make the appropriate gaming and entertainment choices for their family when using the Xbox 360(TM) video game and entertainment system, as well as the new Windows Vista(TM) operating system. In addition to the stops at the Boys & Girls Club and the Seattle Mariner's game, the bus will also stop at the Seattle Center, next to International Fountain on Saturday morning.

(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO )

"With success comes responsibility," said Robbie Bach, president of the Entertainment and Devices Division at Microsoft, creator of the popular Xbox(R) and Xbox 360 video game consoles. "We are unwavering in our commitment to address the genuine concerns of families about how to make interactive entertainment safer and more fun for our children."

Microsoft launched the "Safety is no game. Is your family set?" campaign in October 2006 with its partners, Boys & Girls Clubs of America and Best Buy Co. Inc. The Seattle stop is the last in the campaign's 20-city nationwide tour that began four months ago in New York.

"Parents must determine which entertainment is appropriate for their children," said Rob McKenna, Washington's Attorney General. "As a father of four, I support Microsoft's efforts to help keep kids safe by educating Washington families about parental control settings and the video game rating system."

The campaign showcases ways that parents can help limit children's exposure to inappropriate video games and movie content using tools such as Xbox 360 Family Settings and Windows Vista Parental Controls. The campaign also highlights the Entertainment Software Rating Board (ESRB) ratings.

"We're excited to have Microsoft's bus tour visit the families of the Rotary Boys & Girls Club as part of its effort to educate parents about safe gaming," said Patrick Carter, executive director of the Rotary Boys & Girls Club. "Microsoft is a longstanding supporter of Boys & Girls Clubs, and we're proud to work with it to provide parents with the information and tools they need to help ensure their kids are enjoying only the entertainment that's right for them."

Microsoft, Boys & Girls Clubs of America, and Best Buy launched the campaign based on feedback from parents and caregivers. According to a recent independent survey* of parents who have a video game console in their home, almost four out of five parents and caregivers (78 percent) are concerned about the content in the video games their children play and the movies they watch on their video game consoles or systems. A majority of parents said they want to be the ones who decide what is right for their family. To help them make those decisions, most parents said they would be interested in having a parental control setting on video game consoles or systems that would easily allow them to limit their children's access to mature content, with over one half (52 percent) saying they would be "very interested" in such a feature.

"We joined Microsoft and Boys & Girls Clubs of America to continue educating families about the options available for a safer and more secure entertainment experience, a long-standing commitment for us as a company, in stores and online," said Jill Hamburger, vice president of Gaming at Best Buy. "We're proud to be part of this campaign. The bus tour will be a fun way to connect with families, share a lot of useful information and play some great games."

Additional information related to the campaign is available at the expanded Family Settings Web site at http://www.xbox.com/isyourfamilyset.

About Xbox 360

Xbox 360 is the most powerful video game and entertainment system, delivering the best games, the next generation of the premier Xbox Live(R) online gaming service, and unique interactive entertainment experiences that revolve around gamers. Xbox 360 has a catalog of more than 160 high-definition games and is available in 37 countries. More information can be found online at http://www.xbox.com/xbox360.

About Boys & Girls Clubs of America

Boys & Girls Clubs of America (http://www.bgca.org/) comprises a national network of some 4,000 neighborhood-based facilities annually serving more than 4.6 million young people, in all 50 states and on U.S. military bases worldwide. Known as "The Positive Place for Kids," the Clubs provide guidance-oriented character development programs on a daily basis for children 6-18 years old, conducted by a full-time professional staff. Key Boys & Girls Club programs emphasize leadership development, education and career exploration, financial literacy, health and life skills, the arts, sports, fitness and recreation, and family outreach. National headquarters are located in Atlanta.

About Best Buy Co., Inc.

Best Buy Co., Inc. is an innovative Fortune 100 growth company that continually strives to create superior customer experiences. Through more than 1,100 retail stores across the United States, Canada and in China, our employees connect customers with technology and entertainment products and services that make life easier and more fun. We sell consumer electronics, home-office products, entertainment software, appliances and related services. A Minneapolis-based company, our operations include: Best Buy (BestBuy.com and BestyBGuy.ca) Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com and GeekSquad.ca), Pacifica Sales Kitchen and Bath Centers (PacificSales.com), Magnolia Audio Video (Magnoliaav.com) and Jiangsu Five Star Appliance Co. (Five-Star.cn). We support our communities through employee volunteerism and grants from The Best Buy Children's Foundation.

About Microsoft

Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

* The survey was conducted utilizing a random-digit dialing (RDD) methodology to help ensure that every American household with a telephone had an equal chance of being contacted. The margin of error for this survey is +/- 4.7 percent at the 95 percent level of confidence. The data collection was performed at a computer-assisted telephone interviewing (CATI) center, and the results were analyzed by StrategyOne in its Washington, D.C., office. StrategyOne is a national, full-service public opinion research and strategic communications agency with offices in Washington, D.C., New York City, Chicago and London.

NOTE: Microsoft, Xbox 360, Windows Vista, Xbox and Xbox Live are trademarks of the Microsoft group of companies.

The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com Microsoft Corp.

CONTACT: press only, Jin Chon of Edelman, +1-202-326-1740,
jin.chon@edelman.com, for Microsoft

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

STMicroelectronics' Shareholders Approve All Resolutions at Annual General Meeting

AMSTERDAM, Netherlands, April 26 /PRNewswire-FirstCall/ -- STMicroelectronics has announced that all of the proposed resolutions were approved at the Company's Annual General Meeting, which was held in Amsterdam today.

The main resolutions were: * Approval of the Company's 2006 accounts reported in accordance with International Financial Reporting Standards (IFRS). (2006 accounts reported under U.S. GAAP were filed on SEC Form 20-F on March 14, 2007.) * The appointments for a three-year term, expiring at the 2010 Annual General Meeting, of the following new members of the Supervisory Board: Mr. Ray Bingham and Mr. Alessandro Ovi. Mr. Robert White's and Mr. Antonino Turicchi's Board service has concluded with the 2007 Annual General Meeting. * The distribution of a cash dividend of US$0.30. The Company's common shares will trade ex-dividend on the three stock exchanges on which they are listed, on Monday, May 21, 2007. For holders of shares listed on Euronext Paris and the Milan Stock Exchange (Borsa Italiana), Monday, May 21, 2007 will also be the payment date. For holders of shares listed on the New York Stock Exchange, the record date will be Wednesday, May 23, 2007, and the payment date will be on or after Tuesday, May 29, 2007. Transfers between New York and European (Dutch) registered shares will be closed from the end of business in Europe on Friday, May 18, 2007, until the open of business in New York on Thursday, May 24, 2007.

The complete agenda and all related materials concerning the STMicroelectronics N.V. Annual General Meeting are available on the Company's website http://www.st.com/.

The draft minutes of the AGM will be posted on the Company website at the beginning of June 2007.

About STMicroelectronics

STMicroelectronics is a global leader in developing and delivering semiconductor solutions across the spectrum of microelectronics applications. An unrivalled combination of silicon and system expertise, manufacturing strength, Intellectual Property (IP) portfolio and strategic partners positions the Company at the forefront of System-on-Chip (SoC) technology and its products play a key role in enabling today's convergence markets. The Company's shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. In 2006, the Company's net revenues were $9.85 billion and net earnings were $782 million. Further information on ST can be found at http://www.st.com/

STMicroelectronics

CONTACT: Michael Markowitz of STMicroelectronics, +1-212-821-8959,
michael.markowitz@st.com

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

Koor Industries Completes Sale of Sheraton Moriah for Approx. $24 million

TEL AVIV, Israel, April 26 /PRNewswire-FirstCall/ -- Koor Industries Ltd. ("Koor") a leading Israeli holding company announced today that it has completed the sale of its entire 56.5% shareholding in Sheraton Moriah Israel Ltd. to Azorim Tourism Ltd., a company in which Azorim Development and Construction Co. Ltd. ("Azorim") owns 75% and Boymelgreen Capital Ltd owns 25%, for a total consideration of approximately $24.0 million.

The first installment in the amount of $6.3 million was received on December 21, 2006, the second in the amount of approximately $8.6 million was received today.

The remaining amount of $9.1 million, guaranteed by Azorim, will be received no later than March 27, 2008, as follows: (a) One half of the said amount shall be paid in NIS (in accordance with the last representative dollar exchange rate known on the date of payment); and (b) The other half shall be paid in NIS (in accordance with the representative dollar exchange rate known on the date of execution of the agreement), linked to the rate of change of the Israeli Consumer Price Index (CPI) known on March 27, 2008 relative to the CPI known on the date of execution of the agreement (Basic Index), and such that the said amount shall, in no event, be lower than the amount calculated according to the Basic Index.

Following the closing of the transaction Koor has been released from guaranties provided to banks to secure bank debt of Sheraton Moriah in the amount of approx. $9.2 million.

Koor currently estimates that it will record a capital gain as a result of the transaction of approximately NIS 14 million in the second quarter of 2007.

About Koor Industries

Koor Industries is a leading Israeli holding company, focusing on high-growth, internationally-oriented, Israeli companies. Koor actively invests in agrochemicals through Makhteshim Agan Industries; in telecommunications through its holdings in ECI Telecom, ECTel and Telrad Networks; and in venture capital through Koor Corporate Venture Capital. Koor's ADSs (American Depositary Shares) are traded on the New York Stock Exchange and Koor's Ordinary Shares are traded on the Tel Aviv Stock Exchange .

Company contact Oren Hillinger, Finance Director Koor Industries Ltd. Tel: +972-3-607-5111 Fax: +972-3-607-5110 oren.hillinger@koor.com IR Contacts Ehud Helft / Kenny Green GK Investor Relations Tel: 1-866-704-6710 Fax: +972-3-607-4711 info@gkir.com

Forward looking statements in this release involve a number of risks and uncertainties including, but not limited to, international market conditions, domestic political factors, technological developments, ability to finance operations, and other factors which are detailed in the Company's SEC filings.

Koor Industries Ltd

CONTACT: Company contact: Oren Hillinger, Finance Director, Koor
Industries Ltd., Tel: +972-3-607-5111, Fax: +972-3-607-5110,
oren.hillinger@koor.com; IR Contacts, Ehud Helft / Kenny Green, GK Investor
Relations, Tel: 1-866-704-6710, Fax: +972-3-607-4711, info@gkir.com

Harris Corporation's Newest Broadcast Technology Wins Big at NAB2007

CINCINNATI, April 26 /PRNewswire-FirstCall/ -- Harris Corporation , an international communications and information technology company, was honored with five prestigious industry awards at the 2007 National Association of Broadcasters (NAB2007) convention held earlier this month in Las Vegas.

Harris won TV Technology magazine's STAR Award (Superior Technology Award Recipient) for the CENTRIO(TM) multi-image processor; Broadcast Engineering magazine's Pick Hit award for the Harris Channel ONE(TM) integrated channel release solution; and Television Broadcast magazine's Top Innovation Award for the OPTO Test(TM) OFI-20B optical fiber identifier.

The MPH(TM) (Mobile-Pedestrian-Handheld) in-band mobile DTV system, jointly developed by Harris Corporation and LG Electronics, was also honored at NAB2007- winning TV Technology magazine's STAR Award and Television Broadcast magazine's Top Innovation Award. The MPH(TM) system provides robust DTV signals to mobile, pedestrian and handheld devices.

"At NAB, we introduced a wide range of innovative new solutions for broadcast workflows that enable broadcasters to create new revenue models, improve customer workflows and reduce the cost of operations," said Tim Thorsteinson, president of the Harris Broadcast Communications Division. "Winning these prestigious industry awards underscores the success of our strategy to be the ONE answer for customers across the industry."

The TV Technology STAR Awards are designed to celebrate and showcase the preeminent technological innovations available to the broadcast industry. A panel of judges consisting of TV Technology editors and columnists reviewed a variety of products, examined the technical applications and their overall contribution to the industry, and then submitted their award nominees. The Broadcast Engineering Pick Hit Awards are the industry's longest-running new technology awards. An anonymous panel of Broadcast Engineering readers who are working professionals in the broadcast, post and network and satellite industries selected the winners. Products or technologies that receive the Television Broadcast magazine's Top Innovation Award are nominated by industry professionals and selected unanimously by the editorial team of Television Broadcast. These awards are presented in recognition of Technology Insight for the Bottom Line(TM), having combined innovative technical achievement with workflow and cost efficiencies.

Unveiled at NAB2007, CENTRIO(TM) is a breakthrough multi-image processor designed to streamline complex, large-system broadcast monitoring applications and combine an advanced graphics engine and a routing infrastructure in a single, expandable chassis. Harris Channel ONE(TM) integrates a high-quality graphics playout server, animations, live video, video clips, audio, real-time external data feeds and master control functionality in a single chassis - providing broadcasters with the necessary components to produce and air complete television channels in high definition or standard definition. The OPTO Test(TM) OFI-20B is a handheld, easy-to-use optical test instrument that identifies optical fibers by detecting the optical signals being transmitted through the fibers without having to open the fiber.

About Harris Corporation Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has annual revenue of about $4 billion and more than 14,000 employees - including more than 6,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications(TM) products, systems, and services for global markets, including government communications, RF communications, broadcast communications, and wireless transmission network solutions. Additional information about Harris Corporation is available at http://www.harris.com/

All trademarks are held by their respective owners.

Harris Corporation

CONTACT: Laura Whitaker, Vice President, Communications, Harris Broadcast
Communications Division, +1-408-782-1201, laura.whitaker@harris.com; or Robin
Hoffman, Pipeline Communications, +1-973-746-6970, robinh@pipecomm.com

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

Lockheed Martin Hosts Nearly 200 Alabama Students During Young Minds At Work Day

HUNTSVILLE, Ala. and COURTLAND, Ala., April 26 /PRNewswire/ -- Lockheed Martin today opened its doors in Huntsville and Courtland, Ala., to students, aged six to 18 years, for the company's annual Young Minds at Work Day. Approximately 150 students in Huntsville and approximately 30 students in Courtland participated.

A Lockheed Martin employee, contractor or customer sponsored each student. Each student "shadowed" his or her sponsor during part of the day and participated in hands-on activities and tours of the company.

In Huntsville, students searched for a hidden treasure with GPS devices, measured the density of micrometeorites, built and raced cereal box cars, and participated in a systems engineering project involving catapults. "This event is designed to spark interest in science and technology careers for these students of all ages, whether they will be entering the workforce in 2012 or 2020," said Bob Drolet, director, Lockheed Martin Huntsville Operations.

In Courtland, students built and launched a rocket, toured the facility and played an "Are You Smarter than a Rocket Scientist?" game. "This was an opportunity for these students to see that what they learn in the science classroom has real-world application and that they can be the next generation of scientists and engineers," said Bruce Thompson, director, Lockheed Martin Courtland Operations.

Lockheed Martin Space Systems Company annually hosts Young Minds at Work Day at company facilities across the country to motivate young people to pursue science and technology careers.

Lockheed Martin Space Systems Company employs more than 600 people in Alabama. The company's Huntsville Operations performs program management and engineering for key missile defense contracts and is the home of the corporation's Battle Management Center of Excellence. The company's Courtland Operations provides missile defense assembly, integration and test services.

Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2006 sales of $39.6 billion.

Media Contact: Lynn Fisher, 408-742-7606; lynn.m.fisher@lmco.com

Lockheed Martin Space Systems Company

CONTACT: Lynn Fisher of Lockheed Martin Space Systems Company,
+1-408-742-7606, or lynn.m.fisher@lmco.com

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

LG Electronics, Harris Corporation Honored for New MPH(TM) In-Band Mobile DTV Technology at NAB2007

CINCINNATI and CHICAGO, April 26 /PRNewswire/ -- LG Electronics and Harris Corporation announced that the jointly developed MPH(TM) in-band mobile DTV system has won two prestigious awards at the 2007 National Association of Broadcasters (NAB) convention - TV Technology magazine's STAR Award (Superior Technology Award Recipient) and Television Broadcast magazine's Top Innovation Award.

Developed by Harris Corporation and LG Electronics Inc. and its U.S. research subsidiary, Zenith Electronics Corp., the MPH(TM) (Mobile-Pedestrian- Handheld) in-band mobile DTV system provides robust DTV signals to mobile, pedestrian and handheld devices. For broadcasters, this new technology enables new and potentially lucrative revenue streams. For consumers, the MPH(TM) system enables users to view their favorite programs from local broadcasters, watch movies and sports, and access local news and weather information - even when traveling in fast-moving vehicles or using handheld video devices away from home.

The TV Technology STAR Awards are designed to celebrate and showcase the preeminent technological innovations available to the broadcast industry. A panel of judges consisting of TV Technology editors and columnists reviewed a variety of products, examined the technical applications and their overall contribution to the industry, and then submitted their award nominees.

Products or technologies that receive the Television Broadcast magazine's Top Innovation Award are nominated by industry professionals and selected unanimously by the editorial team of Television Broadcast. These awards are presented in recognition of Technology Insight for the Bottom Line(TM), having combined innovative technical achievement with workflow and cost efficiencies.

"We developed the MPH(TM) system with LG Electronics in response to our customers' interest in a compelling, in-band mobile solution," said Tim Thorsteinson, president of the Harris Broadcast Communications Division. "The MPH system strikes the right balance for broadcasters looking to deliver both high-definition programming to fixed receivers and standard-definition programming and datacasting to mobile and handheld devices."

LG Electronics President and CTO Dr. H.G. Lee said, "Industry recognition for the MPH(TM) mobile DTV system reflects the strength of both the technology and our partnership with Harris. We look forward to capitalizing on the technical and marketplace advantages of the MPH system, while working with U.S. broadcasters to develop the mobile-portable-handheld DTV market."

The MPH system is a multiple-stream approach, with the main service stream for existing DTV and HDTV services, and the MPH stream for one or more mobile, pedestrian and/or handheld services. Key attributes of the MPH system include:

-- Backward compatibility with the existing ATSC 8-VSB transmission and receiving equipment; -- Capability to receive broadcast signals at high (mobile) speed with a single antenna; -- Use of practical, small handheld receivers without the need for multiple antennas; -- Power savings in handheld receivers; -- Flexibility in both data rates and robustness; -- Data-rate efficiency, and; -- Use of advanced video and audio coding in the MPH(TM) stream.

Another advantage of the MPH system is that it does not require the involvement of outside service providers or spectrum-pooling arrangements.

About LG Electronics USA, Inc.

LG Electronics USA, Inc. is the North American subsidiary of LG Electronics, Inc., a $48.5-billion global force in consumer electronics, home appliances and mobile communications. In the United States, LG Electronics sells a wide range of digital display and digital media products, digital appliances and mobile phones under LG's "Life's Good" marketing theme. LG's U.S. R&D subsidiary Zenith Electronics in Lincolnshire, Ill., is a long-time leader in consumer electronics technologies and a pioneer in digital HDTV, having developed the "VSB" digital transmission system at the heart of the ATSC DTV Standard adopted by the Federal Communications Commission. Zenith's Emmy-award-winning technologies include TV remote control, stereo TV, flat CRTs and HDTV. Zenith merged with LG Electronics in 1999. For additional information, please visit http://www.zenith.com/ and http://www.lgusa.com/.

About Harris Corporation

Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has annual revenue of about $4 billion and more than 14,000 employees - including more than 6,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications(TM) products, systems, and services for global markets, including government communications, RF communications, broadcast communications, and wireless transmission network solutions. Additional information about Harris Corporation is available at http://www.harris.com/

All trademarks are held by their respective owners.

LG Electronics

CONTACT: Laura Whitaker, Vice President, Harris Broadcast
Communications, +1-408-782-1201, laura.whitaker@harris.com; or John Taylor,
Division Communications, Vice President, Public Affairs, LG Electronics USA,
Inc., +1-847-941-8181, jtaylor@lge.com

Web site: http://www.lgusa.com/
http://www.harris.com/
http://www.zenith.com/

Sun Launches New Video Delivery Over IP Platform With Highest Video Streaming Throughput in the IndustryNortel Joins Sun for System Unveiling at New York's Tribeca Film Festival

NEW YORK, April 26 /PRNewswire-FirstCall/ -- Sun Microsystems, Inc. today introduced the Sun(TM) Streaming System -- the industry's first massively scalable and cost-effective video delivery platform for cable and telecommunications operators, which helps operators increase subscriber revenue by offering new video-based services and personalized, unique video streams to each consumer. Unveiled at the 6th annual Tribeca Film Festival in Lower Manhattan, a world-class venue for the international film community to demonstrate the power of film, the system leverages the Solaris(TM) 10 Operating System (OS) to deliver the highest video streaming capacity in the industry by enabling cost-effective personalized video delivery over existing optical network infrastructure -- consequently reshaping the economics and quality of video delivery services.

Designed by Sun co-founder Andy Bechtolsheim, Sun's cutting-edge system design enables the Sun Streaming System to support up to 160,000 simultaneous, unique video streams at the rate of 2Mbps and a price of less than $50 per stream for complete video headend -- which is approximately 10 times the streaming capacity of competitive platforms. Thirty-two integrated 10 Gigabit Ethernet optical networking ports combine multiplexing, switching and routing all in one high-density video streaming package.

"Video on demand and IPTV are expected to become widely available by 2010," said Andy Bechtolsheim, Chief Architect and Senior Vice President, Sun Systems Group. "The Sun Streaming System's revolutionary design allows operators to capitalize on that market opportunity and deliver unique content and relevant advertising to each subscriber, increasing revenue for operators and advertisers. As the first industry solution to offer 160,000 video streams per switch, it is also the industry's most scalable and cost-effective solution. We are extremely excited to see where the industry will go with this new architecture."

The Sun Streaming System is an integrated platform that is composed of a distributed software suite running on Sun Fire(TM) x64 systems, storage and switching technologies. Key components of the Sun Streaming System are the new Sun Streaming Software, the new Sun Fire X4950 Streaming Switch, the Sun Fire X4500 data server and the Sun Fire X4100 systems, which together provide the highest streaming throughput in the video services industry at the lowest cost:

-- Sun Streaming Software: Based on open industry standards, the Sun Streaming Software is a single point of control to operate and manage the entire video streaming system. The software enables operators to reduce time to market for deploying new services by supporting more than 20 video streaming features, such as: MPEG-2 and MPEG-4 formats; bit-rate support from 1Mbps to 20 Mbps; standard-definition (SD) and high-definition (HD) streaming; encrypted and clear content streaming; at least six trick-play settings; Network Personal Video Recorder (nPVR) capabilities; and splicing and personalized playlists for permission-based target advertising. Open software standards, such as CORBA, XML, HTTP and RTSP, allow operators to easily integrate third-party components for an end-to-end video headend solution. -- Sun Fire X4950 Streaming Switch: A scalable memory cache-based content switching and streaming engine, the Sun Fire X4950 Streaming Switch provides the highest available streaming density at 320 Gbps and up to 2 terabytes (TB) of memory to enable scalable video streaming with a low cost per stream. -- Sun Fire X4500 server: By integrating state of the art server and storage technologies, the Sun Fire X4500 server powered by Second- Generation AMD Opteron(TM) processors delivers the performance of a four-way x64 server and the highest storage density available, with 24 TB of storage in seven inches of rack space for up to 9,400 hours of 2Mbps video content storage.

Customers, Partners and ISVs Show Support for Sun Streaming System's Market-Changing Economics

Sun is aligning with several resellers, partners and Independent Software Vendors (ISVs), including EDS and Nortel, to bring the Sun Streaming System's market-changing economics to customers in the video services industry.

"Nortel is focused on IPTV as a critical enabler of our video strategy, which aims to help our carrier customers increase revenues by adding video- rich applications to their services mix. As we work to transform networks to accommodate the increasing requirements of video, we are partnering with the best of the industry's best to provide the most comprehensive, best-performing IPTV solution to our customers," said Sameer Sheth, general manager, Video Solutions, Nortel. "The Sun Streaming System, which combines high performance in a cost-effective platform, will facilitate the introduction of competitive new video applications and is a strong addition to Nortel's IPTV solution ecosystem."

"The Sun Streaming System is a best-of-breed solution that allows customers to consolidate their infrastructure and save on management costs," said Sue Chevins, Global Leader, Communications, Media & Entertainment Industry at EDS. "This breakthrough platform is a key part of EDS' Internet Protocol Television (IPTV) strategy. It allows us to leverage the innovation of an Agility Alliance partner to augment our core Managed Services competencies as Sun's preferred Systems Integration partner in the IPTV marketplace."

Early access and beta customers such as Acetrax of Europe have already been testing the Sun Streaming System. In addition, a number of ISV and Independent Hardware Vendor (IHV) solutions have been integrated and tested with the system, bringing together an end-to-end deployment architecture for video delivery services. These partners include Advanced Digital Broadcast (ADB), AMD, Amino, Digisoft.tv, Harmonic, IMAKE Software, Juniper Networks, Minerva Networks, TANDBERG Television, Tellabs, Verimatrix and Widevine. For quotes and more details on customer and ISV support of the Sun Streaming System, please visit: http://www.sun.com/servers/networking/streamingsystem/perspectives.xml

Sun also announced today its Sun Solution Center at the Menlo Park campus for the Sun Streaming System/IPTV solution. The center allows potential customers, OEMs and ISVs to test the Sun Streaming System's capabilities, architect and validate an end-to-end solution. It is currently involved in partner enablement and pilot projects. For more information on how to engage with the Sun Solution Center, please visit: http://www.sun.com/ssc

In addition, Sun announced today a range of services to help optimize Sun Streaming System performance and ROI, including on-site installation and testing; factory integration and end-to-end support; and access to Sun experts to ensure a smooth and productive experience. Sun is rolling out a software subscription that includes fundamental software services such as telephone and online technical support, software updates and upgrades, and self-help tools and notifications. For more information on services for the Sun Streaming System, please visit: http://www.sun.com/servers/networking/streamingsystem/support.xml

The Sun Streaming System is available now. For more information, please visit: http://www.sun.com/streamingsystem

About Sun Microsystems, Inc.

A singular vision -- "The Network Is The Computer(TM)" -- guides Sun in the development of technologies that power the world's most important markets. Sun's philosophy of sharing innovation and building communities is at the forefront of the next wave of computing: the Participation Age. Sun can be found in more than 100 countries and on the Web at http://sun.com/.

NOTE: Sun, Sun Microsystems, Solaris, Sun Fire and The Network Is The Computer are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. AMD, the AMD Arrow logo, AMD Opteron and combinations thereof are trademarks or registered trademarks of Advanced Micro Devices, Inc.

Contact: Rebekah Johnson of Sun Microsystems, Inc., +1-650-585-5473, or rebekah.johnson@sun.com.

Sun Microsystems, Inc.

CONTACT: Rebekah Johnson of Sun Microsystems, Inc., +1-650-585-5473, or
rebekah.johnson@sun.com

Web site: http://sun.com/

Brigham Exploration Company to Hold Conference Call to Discuss Operational and Financial Results for the First Quarter 2007

AUSTIN, Texas, April 26 /PRNewswire-FirstCall/ -- Brigham Exploration Company will hold its quarterly conference call to discuss operational and financial results for the first quarter 2007 on Wednesday, May 2, 2007 at 10:00 AM ET. Brigham plans to issue an earnings press release after the close of market trading on Tuesday, May 1, 2007. Details for the conference call are as follows:

Date & Time: Wednesday, May 2, 2007 at 10:00 AM ET (9:00 AM CT) Host: Bud Brigham - Chairman, CEO and President Dial-In Number: 888.873.4896 within U.S. 617.213.8850 outside U.S. Participant Passcode: 39656471 Telephone Replay Number: 888-286-8010 within U.S. 617-801-6888 outside U.S. Telephone Replay Passcode: 45866503 Telephone Replay Available Through: Friday, June 1, 2007 at 12:00 PM ET Webcast Address: http://www.bexp3d.com/ or http://www.streetevents.com/,

The webcast is also being distributed over CCBN's Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through CCBN's individual investor center at http://www.companyboardroom.com/ or by visiting any of the investor sites in CCBN's Individual Investor Network. Institutional investors can access the call via CCBN's password-protected event management site, StreetEvents (http://www.streetevents.com/).

About Brigham Exploration

Brigham Exploration Company is an independent exploration and production company that applies 3-D seismic imaging and other advanced technologies to systematically explore and develop onshore domestic natural gas and oil provinces. For more information about Brigham Exploration, please visit our website at http://www.bexp3d.com/ or contact Investor Relations at 512-427-3444.

Brigham Exploration Company

CONTACT: Rob Roosa, Finance Manager of Brigham Exploration Company ,
+1-512-427-3300

Web site: http://www.bexp3d.com/

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