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Companies news of 2007-04-26 (page 3)

  • Sonic Foundry to Release 2007 Second Quarter Results on Tuesday, May 1, 2007Company Will...
  • CDI Corp. Reports First Quarter 2007 Net Earnings Increase by Over 72% and Announces...
  • MKS Instruments Reports First Quarter 2007 Financial ResultsRecord sales on strong demand...
  • Netlist to Present at the AeA Micro Cap Financial Conference in Monterey
  • Autodesk Extends Invitation to Join its First Quarter Fiscal 2008 Financial Results...
  • Captaris to Acquire Castelle
  • Thermo Fisher Scientific Reports Record Revenues and Adjusted EPS in First Quarter...
  • Misys Awarded Prestigious Label by SWIFT for its SWIFTNet Trade Services Utility (TSU)...
  • Chi Mei Optoelectronics Announces Unaudited Unconsolidated First Quarter 2007
  • TSMC Reports First Quarter EPS of NT$0.73
  • Option Reports First Quarter 2007 Results
  • VASCO Reports Results for First Quarter of 2007Revenues increase 93% over Q1 2006;...
  • RiT Technologies Ltd. 2007 First Quarter Results Conference Call
  • Trend Micro Announces Strong First Quarter Results
  • Trend Micro Announces Intention to Delist its ADRs from NASDAQ and Terminate its SEC...
  • InfoVista Reports Q3 FY2007 Financial Results
  • ILOG Announces 2007 Third Quarter Results
  • ILOG Announces 2007 Third Quarter Results
  • InfoVista Reports Q3 FY2007 Financial Results
  • InfoVista annonce ses résultats financiers pour le troisième trimestre 2007
  • Ready, Set, Evaluate! Windows Server 'Longhorn' Reaches Beta 3First public release of beta...
  • Schwab Declares Regular Quarterly Dividend, Authorizes Additional Stock Repurchase
  • Visual Defence annonce les résultats finaux pour l'exercice se terminant le 31 décembre...



    Sonic Foundry to Release 2007 Second Quarter Results on Tuesday, May 1, 2007Company Will Hold Its Investor Web Presentation at 4:30 p.m. ET

    MADISON, Wis., April 26 /PRNewswire-FirstCall/ -- Sonic Foundry(R) Inc. , a leader in automated rich media communications technology, today announced it will release results for its second quarter of fiscal 2007 on Tuesday, May 1 after the close of the market.

    The Company will host a Web presentation for analysts and investors that day at 3:30 p.m. CT/4:30 p.m. ET. It will use its patented rich media communications system, Mediasite(R), to Webcast the presentation for live and on-demand viewing. To access the presentation, go to http://www.sonicfoundry.com/q207. An archive of the conference call will be available for 30 days.

    About Sonic Foundry(R), Inc.

    Founded in 1991, Sonic Foundry is a technology leader in the emerging rich media communications marketplace, providing enterprise solutions and services that link an information-driven world. Sonic Foundry is changing the way organizations communicate via the web and how people around the globe receive vital information needed for work, professional advancement, safety and education. The company's integrated webcasting and web presentation solutions are trusted by Fortune 500 companies, education institutions and government agencies for a variety of critical communication needs. Sonic Foundry is based in Madison, Wis. For more information about Sonic Foundry, visit http://www.sonicfoundry.com/.

    Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for Sonic Foundry's products, its ability to succeed in capturing significant revenues from media services and/or systems, the effect of new competitors in its market and other risk factors identified from time to time in its filings with the Securities and Exchange Commission.

    Sonic Foundry Inc.

    CONTACT: Investors, Rob Schatz of Wolfe, Axelrod, Weinberger & Assoc.,
    LLC, +1-212-370-4500, rob@wolfeaxelrod.com, for Sonic Foundry Inc.

    Web site: http://www.sonicfoundry.com/q207

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




    CDI Corp. Reports First Quarter 2007 Net Earnings Increase by Over 72% and Announces Dividend

    PHILADELPHIA, April 26 /PRNewswire-FirstCall/ -- CDI Corp. today reported earnings for the first quarter ended March 31, 2007 and announced a quarterly cash dividend.

    For the quarter ended March 31, 2007, the company reported net earnings of $8.5 million, or $0.42 per diluted share, on revenue of $331.9 million. Total first quarter revenue increased by 8.0% compared to $307.3 million for the first quarter of 2006, and net earnings increased 72.6% compared to $4.9 million in the year-ago quarter. First quarter results were favorably affected by a $1.6 million pre-tax reversal of a legal accrual due to the company's successful appeal of a 2004 lawsuit judgment against the company. When adjusted for this reversal, the net earnings increase on a year-over-year basis would have been approximately 52% (see attached table for reconciliation).

    The company also announced a quarterly dividend of $0.11 per share to be paid on May 24, 2007 to all shareholders of record as of May 10, 2007.

    "Continuing strong spending by clients in most of our key vertical industries and in the U.K. infrastructure marketplace produced solid revenue and profit gains," said President and Chief Executive Officer Roger H. Ballou. "We also saw generally positive trends within the contract and permanent placement hiring environment as clients continue to add technical, professional and managerial talent to support growth in their firms.

    "We are pleased that our strategic focus on providing higher-margin, longer-cycle services is producing solid results. Both our professional services revenue, consisting of permanent placement and franchise-related revenue, and our project outsourcing revenue, consisting of knowledge- intensive engineering and IT outsourcing, is contributing to continued improvement in gross profit margin on a year-over-year basis."

    Business Segment Discussion

    As noted in the fourth quarter 2006 earnings press release, CDI will now report on five business segments reflecting the new operating structure in place effective January 1, 2007. Under the new structure, CDI will now report two new business segments: "CDI Engineering Solutions" and "CDI IT Solutions". CDI Engineering Solutions is comprised of the Process & Industrial, Aerospace, Government Services and Life Sciences verticals while CDI IT Solutions is comprised primarily of the former IT Services vertical.

    The Engineering Solutions segment reported an 8.3% gain in first quarter revenue compared to the prior year quarter. Continued strong demand driven by capital spending drove new account and new project wins. Additionally, some pricing leverage was realized in high labor demand sectors. Operating profit, on a year-over-year basis, increased significantly due to the growth in revenue and to the aforementioned successful legal appeal. Operating profits were partially offset by approximately $0.6 million in start-up costs associated with two previously-announced major account wins.

    Revenue in the IT Solutions segment increased moderately by 1.6% compared to the year-ago quarter as our previously-announced account win reflected a higher run rate in 2007 versus its lower run rate in the first quarter 2006. This was partially offset by the closing of certain lower-performing offices. When compared to the first quarter of 2006, operating profit increased primarily due to effective cost controls.

    U.K.-based AndersElite first quarter revenue increased 26.8% versus the prior year (or 13.0% on a constant currency basis) driven by continued strength in the U.K. and Australia construction and infrastructure marketplaces. On a constant currency basis, operating profit doubled compared to the first quarter of 2006, driven by gains in recruiter productivity, growth in higher-margin permanent placement revenue, and expansion in Australian offices.

    Todays Staffing revenue for the first quarter declined by 3.6% compared to the year-ago quarter reflecting continued softness in temporary staffing demand. There was, however, better-than-anticipated sequential revenue growth in the first quarter. Despite the decline in revenue, operating profit, on a year-over-year basis, was relatively flat reflecting continued effective cost control activities.

    Management Recruiters International, Inc.'s (MRI) first quarter revenue increased by 2.7% versus the prior-year quarter with growth in contract revenue, somewhat offset by a decline in royalties due to the previously- announced sale of an international master license in April 2006. Operating profit was essentially flat compared to the year-ago quarter.

    Corporate Summary

    Corporate overhead costs were down slightly when compared to the first quarter of 2006. This reflects decreases in legal and compliance spending somewhat offset by higher spending to recruit talent in the financial area and higher stock compensation costs.

    "CDI ended the quarter with approximately $36.6 million in cash and cash equivalents compared to a year-end total of $33.6 million," said Ballou. "We remain confident that our cash generative business model and our current cash balance are sufficient to support revenue growth, capital spending and dividends. Additionally, we continue to have significant debt capacity to support potential acquisitions."

    Business Outlook

    "We continue to see strength in capital spending plans by many of our clients and we are beginning to see significant opportunities develop in new markets such as alternative fuels. We have, however, also seen a recent downtick in demand in the IT Solutions segment. Based on all of these factors, we could produce year-over-year revenue growth of 7% to 9% for both the second quarter and the full year. Additionally, we should be able to generate low to mid-teen variable contribution margins on this incremental revenue for the second quarter and the full year."

    Financial Tables Follow Conference Call/Webcast

    CDI Corp. will conduct a conference call at 11 a.m. (ET) today to discuss this announcement. The conference call will be broadcast live over the Internet and can be accessed by any interested party at http://www.cdicorp.com/. An online replay will be available at http://www.cdicorp.com/ for 14 days after the call.

    Company Information

    Headquartered in Philadelphia, CDI Corp. is a leading provider of engineering & information technology outsourcing solutions and professional staffing. Its operating units include CDI Engineering Solutions, CDI IT Solutions, CDI AndersElite Limited, Todays Staffing, Inc. and Management Recruiters International, Inc. Visit CDI at http://www.cdicorp.com/.

    Caution Concerning Forward-Looking Statements

    This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that address expectations or projections about the future, including statements about our strategy for growth, expected expenditures and future financial results, are forward-looking statements. Some of the forward-looking statements can be identified by words like "anticipates," "believes," "expects," "may," "will," "could," "intends," "plans," "estimates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions that are difficult to predict. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to: changes in general economic conditions and levels of capital spending by customers in the industries that we serve; the impact of a potential reduction in demand in our IT Solutions segment; possible inaccurate assumptions or forecasts regarding the bill rate, profit margin and duration of assignment applicable to billable personnel (and regarding the utilization rate of billable personnel in our project business); competitive market pressures; the availability and cost of qualified labor; changes in customers' attitudes towards outsourcing; our level of success in attracting, training, and retaining qualified management personnel and other staff employees; the ability to pass on to customers increases in costs (such as those relating to workers' compensation, unemployment insurance, medical insurance coverage or other costs which may arise from regulatory requirements); our performance on customer contracts; the possibility of incurring liability for our activities, including the activities of our temporary employees; adverse consequences arising out of the U.K. Office of Fair Trading investigation; and government policies or judicial decisions adverse to the staffing industry. More detailed information about some of these risks and uncertainties may be found in our filings with the SEC, particularly in the "Risk Factors" section of our Form 10-K's and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section of our Form 10-K's and Form 10-Q's. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We assume no obligation to update such statements, whether as a result of new information, future events or otherwise.

    Consolidated Statements of Earnings Unaudited (in thousands, except per share data) For the three months ended March 31, December 31, 2007 2006 2006 Revenues $331,941 $307,331 $321,026 Cost of services 255,147 236,760 244,267 Gross profit 76,794 70,571 76,759 Operating and administrative expenses 63,723 62,737 66,232 Operating profit 13,071 7,834 10,527 Other income, net 435 163 4 Earnings before income taxes 13,506 7,997 10,531 Income tax expense 5,038 3,091 3,730 Net earnings $8,468 $4,906 $6,801 Diluted earnings per share $0.42 $0.25 $0.34 Diluted number of shares (000) 20,162 20,009 20,121 March 31, December 31, 2007 2006 2006 Selected Balance Sheet Data: Cash and cash equivalents $36,566 $20,684 $33,551 Accounts receivable, net $268,437 $246,545 $243,586 Current assets $318,337 $282,108 $290,684 Total assets $440,195 $401,703 $413,119 Current liabilities $121,738 $116,442 $104,746 Shareholders' equity $308,771 $276,097 $299,332 For the three months ended March 31, December 31, 2007 2006 2006 Selected Cash Flow Data: Depreciation expense $2,747 $2,510 $2,788 Capital expenditures $2,219 $3,071 $4,720 Dividends paid $2,212 $2,184 $2,200 Free cash flow for the quarter ended March 31, 2007 is shown below: Net cash provided by operating activities $2,612 Less: capital expenditures (2,219) Less: dividends paid (2,212) Free cash flow for the quarter ended March 31, 2007 $(1,819) For the three months ended March 31, December 31, 2007 2006 2006 Selected Earnings and Other Financial Data: Revenues $331,941 $307,331 $321,026 Gross profit $76,794 $70,571 $76,759 Gross profit margin 23.1% 23.0% 23.9% Operating and administrative expenses as a percentage of revenue 19.2% 20.4% 20.6% Corporate expenses $4,741 $5,024 $4,030 Corporate expenses as a percentage of revenue 1.4% 1.6% 1.3% Operating profit margin 3.9% 2.5% 3.3% Effective income tax rate 37.3% 38.7% 35.4% After-tax return on shareholders' equity (a) 9.2% 6.0% 8.2% Pre-tax return on net assets (b) 15.9% 10.9% 14.1% Variable contribution margin (c) 21.3% 10.4% 18.4% For the three months ended March 31, 2007 2006 Increase Reconciliation to adjusted earnings:(1) Net earnings, as reported $8,468 $4,906 72.6% Deduct: 2007 first quarter adjustment - net of tax (1,003) Net earnings, as adjusted $7,465 $4,906 52.2% (1) The table above puts CDI's first quarter results of operations on a more comparable basis by eliminating the after-tax effect of the lawsuit reversal of $1.6 million in 2007. For the three months ended March 31, December 31, 2007 2006 2006 Selected Segment Data: Engineering Solutions (d) Revenues $150,969 $139,388 $140,624 Gross profit 29,992 27,388 28,618 Gross profit margin 19.9% 19.6% 20.4% Operating profit 9,628 7,622 6,164 Operating profit margin 6.4% 5.5% 4.4% IT Solutions (d) Revenues $65,177 $64,159 $68,279 Gross profit 12,045 12,180 12,622 Gross profit margin 18.5% 19.0% 18.5% Operating profit 1,501 116 1,477 Operating profit margin 2.3% 0.2% 2.2% AndersElite Revenues $61,595 $48,586 $58,340 Gross profit 16,175 11,927 15,324 Gross profit margin 26.3% 24.5% 26.3% Operating profit 2,693 1,117 1,948 Operating profit margin 4.4% 2.3% 3.3% Todays Staffing Revenues $38,027 $39,454 $36,078 Gross profit 8,752 9,093 9,105 Gross profit margin 23.0% 23.0% 25.2% Operating profit 672 724 1,218 Operating profit margin 1.8% 1.8% 3.4% Management Recruiters International Revenues $16,173 $15,744 $17,705 Gross profit 9,830 9,983 11,090 Gross profit margin 60.8% 63.4% 62.6% Operating profit 3,318 3,279 3,750 Operating profit margin 20.5% 20.8% 21.2% For the three months ended March 31, December 31, 2007 2006 2006 Engineering Solutions Revenue by Vertical (e): CDI Process and Industrial $112,539 $100,216 $102,828 CDI Aerospace 18,129 22,806 18,980 CDI Government Services 16,552 14,148 15,289 CDI Life Sciences 3,749 2,218 3,527 Total Engineering Solutions Revenue $150,969 $139,388 $140,624 (a) Current quarter combined with the three preceding quarters' net earnings divided by the average shareholders' equity. (b) Current quarter combined with the three preceding quarters' pre-tax earnings divided by the average net assets. Net assets include total assets minus total liabilities excluding cash and income tax accounts. (c) Year-over-year change in operating profit divided by year-over-year change in revenue. (d) As noted in the fourth quarter 2006 earnings press release, CDI will now report on five business units reflecting the new operating structure in place January 1, 2007. Under the new structure, CDI will now report CDI Engineering Solutions and CDI IT Solutions. For comparative purposes, the Company has revised the reporting segments' 2006 data for these two segments. (e) The Company has revised the reporting segments' prior year revenue for Engineering Solutions for comparative purposes.

    CDI Corp.

    CONTACT: Vincent Webb, Vice President, Corporate Communications &
    Marketing, +1-215-636-1240, Vince.Webb@cdicorp.com, or Mark Kerschner, Chief
    Financial Officer, +1-215-636-1105, Mark.Kerschner@cdicorp.com, both of CDI
    Corp.

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




    MKS Instruments Reports First Quarter 2007 Financial ResultsRecord sales on strong demand for process-critical technologies

    WILMINGTON, Mass., April 26 /PRNewswire-FirstCall/ -- MKS Instruments, Inc. , a leading worldwide provider of process control technologies for improving productivity in semiconductor and other advanced manufacturing processes, today reported first quarter 2007 financial results.

    MKS reported record quarterly sales of $211.4 million, up 18 percent from $179.1 million in the first quarter of 2006, and up 6 percent from $199.9 million in the fourth quarter of 2006.

    Net income increased by 77 percent to $27.3 million, or $0.48 per diluted share, from $15.4 million, or $0.28 per diluted share, in the first quarter of 2006, and by 3 percent from $26.5 million, or $0.47 per diluted share, in the fourth quarter of 2006.

    Non-GAAP net earnings, which exclude amortization of acquired intangible assets and special items, increased by 53 percent to $29.9 million, or $0.52 per diluted share, from $19.6 million, or $0.35 per diluted share, in the first quarter of 2006, and by 15 percent from $25.9 million, or $0.46 per diluted share, in the fourth quarter of 2006.

    The financial results that exclude certain charges and special items are not in accordance with Accounting Principles Generally Accepted in the United States of America (GAAP). MKS' management believes the presentation of non- GAAP financial measures, which exclude costs associated with acquisitions and special items, is useful to investors for comparing prior periods and analyzing ongoing business trends and operating results.

    Leo Berlinghieri, Chief Executive Officer and President, said, "After achieving an outstanding 2006, we generated record first quarter sales on strong demand for our process-critical technologies in the semiconductor market, as our customers' process performance and productivity requirements continued to increase.

    "We are focused on leveraging our broad technology portfolio to grow our business in key semiconductor process areas and in attractive, less cyclical non-semiconductor market sectors. Our outlook anticipates variations in customer order patterns across markets. Considering these fluctuations, and given our higher than expected 6 percent sequential growth in the first quarter and the semiconductor industry's more cautious outlook, we anticipate that second quarter 2007 sales could range from $195 to $205 million. Net income could range from $0.36 to $0.42 per diluted share on approximately 58.0 million shares outstanding. Non-GAAP net earnings could range from $0.41 to $0.47 per diluted share."

    Management will discuss first quarter financial results on a conference call today at 8:30 a.m. (Eastern Time). Dial-in numbers are 1-800-218-4007 for domestic callers and 303-262-2130 for international callers. The call will be broadcast live and available for replay at http://www.mksinstruments.com/. To hear a telephone replay through May 3, 2007, dial 303-590-3000, pass code 11087365#.

    MKS Instruments, Inc. is a leading worldwide provider of process control solutions for improving productivity in advanced manufacturing processes such as semiconductor device manufacturing; thin-film manufacturing for flat panel displays, data storage media, architectural glass and electro-optical products; and technology for medical imaging equipment and other markets. Our instruments, components and subsystems incorporate sophisticated technologies to power, measure, control, and monitor increasingly complex gas-related semiconductor manufacturing processes, thereby enhancing our customers' uptime, yield and throughput, and return on invested capital.

    This release contains projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act regarding MKS' future growth and the future financial performance of MKS. These projections or statements are only predictions. Actual events or results may differ materially from those in the projections or other forward-looking statements set forth herein. Among the important factors that could cause actual events to differ materially from those in the projections or other forward-looking statements are the fluctuations in capital spending in the semiconductor industry, fluctuations in net sales to MKS' major customers, potential fluctuations in quarterly results, the challenges, risks and costs involved with integrating the operations of MKS and any acquired companies, dependence on new product development, rapid technological and market change, acquisition strategy, manufacturing and sourcing risks, volatility of stock price, international operations, financial risk management, and future growth subject to risks. Readers are referred to MKS' filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, for a discussion of these and other important risk factors concerning MKS and its operations. MKS is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

    MKS Instruments, Inc. Unaudited Consolidated Statements of Operations (In thousands, except per share data) Three Months Ended March 31, March 31, December 31, 2007 2006 2006 Net sales $211,432 $179,061 $199,895 Cost of sales 118,570 105,316 112,638 Gross profit 92,862 73,745 87,257 Research and development 18,299 16,057 18,018 Selling, general and administrative 34,576 29,765 34,621 Amortization of acquired intangible assets 4,107 5,254 4,020 Purchase of in-process technology - 800 - Income from operations 35,880 21,869 30,598 Interest income, net 3,305 1,430 2,797 Income before income taxes 39,185 23,299 33,395 Provision for income taxes 11,895 7,864 6,902 Net income $27,290 $15,435 $26,493 Net income per share: Basic $0.48 $0.28 $0.47 Diluted $0.48 $0.28 $0.47 Weighted average shares outstanding: Basic 56,354 54,660 55,914 Diluted 57,326 55,269 56,561 The following supplemental Non-GAAP earnings information is presented to aid in understanding MKS' operating results: GAAP net income $27,290 $15,435 $26,493 Adjustments (net of tax, if applicable): Amortization of acquired intangible assets 4,107 5,254 4,020 Purchase of in-process technology - 800 - Benefit for income taxes (Note 1) - - (3,129) Tax effect of adjustments (1,514) (1,905) (1,481) Non-GAAP net earnings (Note 2) $29,883 $19,584 $25,903 Non-GAAP net earnings per share (Note 2) $0.52 $0.35 $0.46 Weighted average shares outstanding - diluted 57,326 55,269 56,561 Note 1: The three month period ended December 31, 2006 includes a net tax benefit of $3,129 attributable to the impact on prior 2006 quarters of the retroactive extension of the R&D tax credit from January 1, 2006 through December 31, 2006 and to a reduction of the valuation allowance on state tax credits. Note 2: The Non-GAAP net earnings and Non-GAAP net earnings per share amounts exclude amortization of acquired intangible assets, acquisition and disposition related charges and special items, net of applicable income taxes. MKS Instruments, Inc. Unaudited Consolidated Balance Sheet (In thousands) March 31, December 31, 2007 2006 ASSETS Cash and short-term investments $313,257 $289,957 Trade accounts receivable 131,817 123,658 Inventories 157,356 149,820 Other current assets 31,362 28,003 Total current assets 633,792 591,438 Property, plant and equipment, net 78,851 79,463 Long-term investments 2,463 2,816 Goodwill 323,715 323,973 Other acquired intangible assets 40,275 43,104 Other assets 2,608 2,926 Total assets $1,081,704 $1,043,720 LIABILITIES AND STOCKHOLDERS' EQUITY Short-term debt $22,080 $23,021 Accounts payable 43,533 38,541 Accrued expenses and other liabilities 57,564 58,424 Total current liabilities 123,177 119,986 Long-term debt 6,037 6,113 Other long-term liabilities 19,794 16,402 Stockholders' equity: Common stock 113 113 Additional paid-in capital 691,030 680,164 Retained earnings 231,413 210,877 Other stockholders' equity 10,140 10,065 Total stockholders' equity 932,696 901,219 Total liabilities and stockholders' equity $1,081,704 $1,043,720

    MKS Instruments, Inc.

    CONTACT: Ronald C. Weigner, Vice President and Chief Financial Officer
    of MKS Instruments, Inc., +1-978-284-4000

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




    Netlist to Present at the AeA Micro Cap Financial Conference in Monterey

    IRVINE, Calif., April 26 /PRNewswire-FirstCall/ -- Netlist, Inc. , a leading supplier of high-performance memory subsystems, today announced that CFO Lee Kim and Vice President of Sales Christopher Lopes are scheduled to make investor presentations at the AeA Micro Cap Financial Conference on Tuesday, May 8. The conference is being held May 6-8 at the Monterey Plaza Hotel in Monterey.

    A live webcast of the 30-minute presentation at 1:15 p.m. Pacific Time will be accessible on the Events page of the Investor Relations section of the Netlist web site at http://www.netlist.com/. A replay of the web cast will be available on the Netlist web site for two weeks.

    About Netlist, Inc.

    Netlist designs and manufactures high-performance memory subsystems for the server and high-performance computing and communications markets. The company's memory subsystems are developed for applications in which high speed, high-capacity memory, functionality, small form factor, and heat dissipation are key requirements. These applications include tower servers, rack-mounted servers, blade servers, high performance computing clusters, engineering workstations, and telecommunication switches. Netlist maintains its headquarters and manufacturing facilities in Irvine, California, and is developing additional manufacturing capacity in the People's Republic of China.

    Contact: Allen & Caron Inc Jill Bertotti (investors) jill@allencaron.com (949) 474-4300

    Netlist, Inc.

    CONTACT: Investors, Jill Bertotti of Allen & Caron Inc, +1-949-474-4300,
    jill@allencaron.com, for Netlist, Inc.

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




    Autodesk Extends Invitation to Join its First Quarter Fiscal 2008 Financial Results Conference Call on Thursday, May 17th at 2:00 p.m. PDT

    SAN RAFAEL, Calif., April 26 /PRNewswire-FirstCall/ -- Autodesk Inc. today announced that it will broadcast its first quarter fiscal 2008 financial results conference call live via its website on Thursday, May 17, 2007.

    WHAT: Autodesk, Inc. First Quarter FY2008 Financial Results Conference Call WHEN: Thursday, May 17, 2007 at 2:00 p.m. PDT HOW: If you would like to listen to the live call, Autodesk will be hosting a webcast at http://www.autodesk.com/investors. If you are unable to access the Internet for the call, you may dial in at 800.901.5241 or 617.786.2963 and reference 72422598 as the pass code. An audio replay webcast and podcast will also be available at 4:00 p.m. PDT on our website at http://www.autodesk.com/investors or by dialing 888.286.8010 or 617.801.6888 and reference 64067637 as the pass code. About Autodesk

    Autodesk, Inc. is the world leader in 2D and 3D design software for the manufacturing, building and construction, and media and entertainment markets. Since its introduction of AutoCAD software in 1982, Autodesk has developed the broadest portfolio of state-of-the-art digital prototyping solutions to help customers experience their ideas before they are real. Fortune 1000 companies rely on Autodesk for the tools to visualize, simulate and analyze real-world performance early in the design process to save time and money, enhance quality and foster innovation. For additional information about Autodesk, visit http://www.autodesk.com/ .

    NOTE: Autodesk is a registered trademark of Autodesk, Inc., in the USA and/or other countries. All other brand names, product names, or trademarks belong to their respective holders.

    Investors: Contact: Sue Pirri, 415-507-6467 Email: sue.pirri@autodesk.com Contact: John Clancy, 415-507-6373 Email: john.clancy@autodesk.com Press: Contact: Caroline Kawashima, 415-547-2498 Email : caroline.kawashima@autodesk.com

    Autodesk, Inc.

    CONTACT: Investors, Sue Pirri, +1-415-507-6467, sue.pirri@autodesk.com,
    or John Clancy, +1-415-507-6373, john.clancy@autodesk.com, or press, Caroline
    Kawashima, +1-415-547-2498, caroline.kawashima@autodesk.com, all of Autodesk,
    Inc.

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




    Captaris to Acquire Castelle

    BELLEVUE, Wash. and MORGAN HILL, Calif., April 26 /PRNewswire-FirstCall/ -- Captaris, Inc. , a leading provider of software products that automate document-centric business processes today announced a definitive agreement for Captaris to acquire all of the outstanding stock of Castelle . For the year ended December 31, 2006, Castelle reported revenue of $10.6 million, net income of $0.7 million and operating cash flow of $1.7 million.

    Under the terms of the definitive agreement, which has been unanimously approved by both boards of directors, Captaris will pay $3.95 per share in cash, or approximately $10.8 million net of an agreed upon closing cash balance for Castelle of $7.4 million. The purchase price per share will be increased or decreased at closing to the extent Castelle's cash is above or below the agreed upon balance, and will be decreased to the extent Castelle's working capital (excluding cash) is less than an agreed upon target. The transaction is subject to customary closing conditions, including the approval by the shareholders of Castelle, and is expected to close in the third quarter of 2007. Prior to closing, the two companies will continue to operate independently.

    "We are very excited about the opportunities ahead of us with the combination of Captaris and Castelle products, customer base and employees," said David P. Anastasi, President and Chief Executive Officer of Captaris. "Castelle's products broaden our suite of offerings and extend our leadership position in the fax market, particularly for small and medium-sized enterprises. Their appliance based products, combining software and hardware into a "plug and play" device, we believe are particularly well suited for our focus on the multi-function printer (MFP) market, the fax over internet protocol (FoIP) market, and for expansion into broader market opportunities."

    "Our two companies, with complementary strengths, fit very well together," said Scott C. McDonald, President and Chief Executive Officer of Castelle. "By becoming part of a market leader in enterprise-wide fax, document and information delivery and management solutions, we expect to enjoy greater market recognition, a wider portfolio of products and improved distribution. Our combined portfolio of solutions will enable our customers and Captaris' customers to have greater flexibility, choice and cost-effectiveness from their document automation."

    Captaris expects that the transaction will be accretive in the first 12 months following the closing and will discuss the transaction further on its upcoming first quarter 2007 earnings conference call.

    About Captaris, Inc.

    Captaris, Inc. is a leading provider of software products that automate business processes, manage documents electronically and provide efficient information delivery. Our product suite of Captaris RightFax, Captaris Workflow and Captaris Alchemy Document Management is distributed through a global network of leading technology partners. We have customers in financial services, healthcare, government and many other industries, and our products are installed in all of the Fortune 100 and many Global 2000 companies. Headquartered in Bellevue, Washington, Captaris was founded in 1982 and is publicly traded on the NASDAQ Global Market under the symbol CAPA. For more information please visit http://www.captaris.com/.

    About Castelle

    Castelle is a market leader in "all-in-one" network fax solutions for businesses and enterprises, and offers organizations every possible network fax option: desktop faxing, production faxing, fax and email integration, workflow application integration, and tools for developing custom fax applications. FaxPress, FaxPress Premier and FaxPress Enterprise network fax servers include the FaxPress or FaxPress Plus software suite that enables administrators and users to perform functions such as managing fax queues, creating reports, and viewing fax archives. Castelle products are designed to be easy to use and maintain, and provide an economical way for companies to share resources over the network. Castelle was founded in 1987 and is headquartered in Morgan Hill, California. Its products are available through a worldwide network of distributors, resellers, and online retailers. For more information please visit http://www.castelle.com/.

    More Information and Where to Find It

    A special meeting of shareholders of Castelle is being planned in July 2007 to seek required shareholder approval of the proposed transaction. Detailed information about the proposals to be presented for shareholder approval will be contained in a proxy statement and other documents to be filed with the U.S. Securities and Exchange Commission (SEC) and mailed to shareholders prior to the meeting. Shareholders of Castelle are advised to read the proxy statement and any other relevant documents filed with the SEC when they become available because they will contain important information. The proxy statement will be available free of charge at http://www.sec.gov/. In addition, investors and security holders may obtain free copies of the proxy statement and other documents filed with the SEC when they become available by contacting Castelle at the address and telephone number below.

    Castelle, its board of directors, executive officers and employees and certain other persons may be deemed to participate in the solicitation of proxies of Castelle shareholders in connection with the proposed transaction. These individuals may have interests in the transaction, including interests resulting from their ownership of securities of Castelle. Information concerning these individuals and their interests in the transaction and their participation in the solicitation will be contained in the proxy statement filed with the SEC in connection with the transaction.

    Cautionary Statement Regarding Forward-Looking Statements

    Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the timing of the special meeting of Castelle shareholders and statements regarding Captaris' expectation that this transaction will be accretive in the first 12 months following the closing. Forward-looking statements include all passages containing verbs such as "estimates," "expects," ""planned," or nouns corresponding to such verbs. Forward-looking statements also include any other passages that are primarily relevant to expected future events or that can only be evaluated by events that will occur in the future. Forward-looking statements are based on the opinions and estimates of the management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. The potential risks and uncertainties include, among others, the risk that the transaction will not close or that the closing may be delayed, the failure to receive approval from Castelle's shareholders for the acquisition, failure to successfully integrate Castelle, its products and its employees into Captaris and achieve expected synergies, failure to retain Castelle employees, the potential failure to maintain and expand the companies' network of dealers and resellers or to establish and maintain strategic relationships, inability to develop new products or product enhancements on a timely basis, inability to protect proprietary rights or to operate without infringing the patents and proprietary rights of others, and quarterly and seasonal fluctuations in operating results. More information about factors that potentially could cause actual results to differ materially from the forward-looking statements is included in the documents that Captaris and Castelle file with the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K. The proxy statement and other filings by Castelle will identify and address other important factors that could cause actual results to differ materially from those contained in some of the forward-looking statements set forth in this press release. Captaris and Castelle are under no duty to update any of the forward-looking statements after the date of this press release to conform to actual results. Readers are cautioned not to place undue reliance upon these forward-looking statements that speak only as to the date of this release.

    The following are registered trademarks and trademarks of Captaris: Captaris, Alchemy, RightFax, Captaris Document Management and Captaris Workflow. FaxPress(TM), FaxPress Premier(TM), FaxPress Enterprise(TM) and FaxPress Plus(TM) are trademarks of Castelle. All other brand names and trademarks are the property of their respective owners.

    Captaris, Inc.

    CONTACT: Erika Simms, Treasury Analyst of Captaris, Inc.,
    +1-425-638-4048, InvestorRelations@Captaris.com; or Todd Kehrli or Jim Byers,
    Investor Relations of MKR Group, LLC, +1-323-468-2300, capa@mkr-group.com,
    both for Captaris, Inc.; or Scott C. McDonald, President & Chief Executive
    Officer, +1-408-852-8000, fax +1-408-852-8100, or Karin Reak, Marketing
    Communications Manager, +1-408-852-8034, karin.reak@castelle.com, both of
    Castelle

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




    Thermo Fisher Scientific Reports Record Revenues and Adjusted EPS in First Quarter 2007Company Raises Financial Guidance for the Full Year

    WALTHAM, Mass., April 26 /PRNewswire-FirstCall/ -- Thermo Fisher Scientific Inc. , the world leader in serving science, reported that revenues increased to $2.34 billion in the first quarter of 2007 (largely as a result of the November 2006 merger with Fisher Scientific), compared with $684 million in the 2006 quarter. GAAP diluted earnings per share (EPS) were $.31 in 2007, versus $.28 in the year-ago period. GAAP operating income for the 2007 quarter was $192 million, compared with $68 million in 2006, and GAAP operating margin was 8.2%, compared with 9.9% a year ago, primarily due to $114 million of higher intangibles amortization related to the merger with Fisher and other acquisitions. GAAP results in 2007 also include $36 million of pre-tax charges related to the merger.

    Adjusted EPS grew 51% to $.59 in the first quarter of 2007, versus $.39 in the 2006 quarter. Adjusted operating income increased nearly threefold in the 2007 quarter, and adjusted operating margin increased 190 basis points to 16.1%, compared with 14.2% in the 2006 period. Adjusted EPS, adjusted operating income and adjusted operating margin are non-GAAP measures that exclude certain items detailed later in this press release under the heading "Use of Non-GAAP Financial Measures."

    For a better year-to-year comparison of the company's quarterly performance, we are also presenting our adjusted operating results on a pro forma basis, as if Thermo and Fisher had been combined for all of 2006. Revenues grew 11.5% over pro forma 2006 revenues of $2.10 billion. Acquisitions (including those by Fisher prior to the merger) contributed 3% of the growth, and currency translation increased revenues by 2%. Adjusted operating income for the quarter increased 34% over pro forma 2006 results, and adjusted operating margin expanded 270 basis points to 16.1%, compared with pro forma adjusted operating margin of 13.4% in the 2006 period.

    First Quarter Highlights -- Revenues grew 11.5% over pro forma 2006 -- Adjusted EPS rose 51% -- Adjusted operating income increased 34% over pro forma 2006 -- Adjusted operating margin expanded 270 basis points over pro forma 2006 -- Key new product introductions continue to expand portfolio -- Merger integration progressing very well

    "We're off to a great start in 2007, with excellent performance across the board in our first full quarter as Thermo Fisher Scientific," said Marijn E. Dekkers, president and chief executive officer. "These results extend our track record of solid growth in revenues, adjusted EPS and adjusted operating income, as well as significant expansion of our operating margins. Much of this growth came from new products introduced within the last two years, and now marketed under our Thermo Scientific brand. Demand remained strong for our LTQ Orbitrap(TM) mass spectrometers, iCAP(TM) elemental analysis systems and Niton(R) portable XRF analyzers. In addition, sales of our Mercury Freedom(TM) air-quality monitors ramped up considerably as U.S. utilities prepare to comply with new EPA regulations.

    "I'm also pleased to report that we are right on track with the merger integration. We are a stronger company today, with a unique combination of portfolio breadth, customer reach and operating efficiency that sets us apart in the marketplace. That said, we are also building upon our position as the technology leader, which continues to be a key contributor to our growth. We launched a number of new products during the quarter, including a new line of Thermo Scientific SuperSignal(R) siRNA Western Blotting Kits for validated detection of protein expression, and a new therapeutic drug-monitoring assay for second-generation anti-epileptic treatments. At PITTCON, we showcased new integrated workflows for a range of applications. Highlights included our Thermo Scientific LTQ XL(TM) mass spectrometer with Electron Transfer Dissociation (ETD) for faster, more accurate protein identification during biomarker research, and our Thermo Scientific EQuan(TM) system for better reliability in the analysis of environmental and drinking water samples."

    Mr. Dekkers added, "We remain confident in our performance outlook for the year, and are raising our adjusted EPS guidance based on a more favorable tax rate. We now expect to report adjusted EPS of $2.43 to $2.53 for full-year 2007, over the $2.35 to $2.45 that we announced in December 2006. This would lead to adjusted EPS growth of 27 to 32% over 2006. We are maintaining our revenue guidance of $9.4 to $9.5 billion for 2007, which represents an increase of approximately 6 to 8% over our pro forma 2006 results." (This guidance includes the favorable impact of a full year of results from 2006 acquisitions and also takes into account the unfavorable effects of 2006 divestitures. The 2007 guidance does not factor in any future acquisitions or divestitures, and is based on present currency exchange rates. In addition, the adjusted EPS estimate excludes amortization expense for acquisition- related intangible assets and certain other items detailed later in this press release under the heading "Use of Non-GAAP Financial Measures.")

    Management uses adjusted operating results to monitor and evaluate performance of the company's business segments. Results in the following segment information are reported on a pro forma adjusted basis for 2006, as if Thermo and Fisher had been combined for the entire year.

    Analytical Technologies Segment

    Revenues in the Analytical Technologies Segment grew 15% in the first quarter of 2007 to $1.01 billion, compared with pro forma 2006 revenues of $872 million. Operating income increased 31% in the first quarter of 2007, and operating margin rose to 18.9%, versus pro forma 2006 results of 16.6%.

    Laboratory Products and Services Segment

    In the Laboratory Products and Services Segment, revenues grew 9% in the first quarter of 2007 to $1.42 billion, compared with pro forma 2006 revenues of $1.30 billion. Operating income increased 37% in the first quarter of 2007, and operating margin rose to 13.1%, versus pro forma 2006 results of 10.5%.

    Use of Non-GAAP Financial Measures

    In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including adjusted EPS, adjusted operating income and adjusted operating margin, which exclude restructuring and other costs/income and amortization of acquisition-related intangible assets. Adjusted EPS also excludes certain other gains and losses, tax provisions/benefits related to the previous items, benefits from tax credit carryforwards, the impact of significant tax audits or events and discontinued operations. We exclude the above items because they are outside of our normal operations and/or, in certain cases, are difficult to forecast accurately for future periods. We believe that the use of non-GAAP measures helps investors to gain a better understanding of our core operating results and future prospects, consistent with how management measures and forecasts the company's performance, especially when comparing such results to previous periods or forecasts.

    For example:

    We exclude costs and tax effects associated with restructuring activities, such as reducing overhead and consolidating facilities in connection with the Fisher merger and our Kendro acquisition. We believe that the costs related to these restructuring activities are not indicative of our normal operating costs.

    We exclude certain acquisition-related costs, including charges for the sale of inventories revalued at the date of acquisition and professional fees related to the merger with Fisher. We exclude these costs because we do not believe they are indicative of our normal operating costs.

    We exclude the expense and tax effects associated with the amortization of acquisition-related intangible assets because a significant portion of the purchase price for acquisitions may be allocated to intangible assets that have lives of 5 to 20 years. Our adjusted EPS estimate for 2007 excludes approximately $.86 of expense for the amortization of acquisition-related intangible assets for acquisitions completed through the first quarter of 2007. Exclusion of the amortization expense allows comparisons of operating results that are consistent over time for both our newly acquired and long- held businesses and with both acquisitive and non-acquisitive peer companies.

    We also exclude certain gains/losses and related tax effects, benefits from tax credit carryforwards and the impact of significant tax audits or events, which are either isolated or cannot be expected to occur again with any regularity or predictability and that we believe are not indicative of our normal operating gains and losses. We exclude gains/losses from items such as the sale of a business or real estate, the early retirement of debt and debt facilities and discontinued operations.

    Thermo Fisher's management uses these non-GAAP measures, in addition to GAAP financial measures, as the basis for measuring the company's core operating performance and comparing such performance to that of prior periods and to the performance of our competitors. Such measures are also used by management in their financial and operating decision-making and for compensation purposes.

    The non-GAAP financial measures of Thermo Fisher's results of operations included in this press release are not meant to be considered superior to or a substitute for Thermo Fisher's results of operations prepared in accordance with GAAP. Reconciliations of such non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in the accompanying tables. Thermo Fisher's earnings guidance, however, is only provided on an adjusted basis. It is not feasible to provide GAAP EPS guidance because the items excluded, other than the amortization expense, are difficult to predict and estimate and are primarily dependent on future events, such as acquisitions and decisions concerning the location and timing of facility consolidations.

    Conference Call

    Thermo Fisher Scientific will hold its earnings conference call today, April 26, at 9:00 a.m. Eastern time. To listen, dial 866-802-4321 within the U.S. or 703-639-1318 outside the U.S., and use conference ID 1026515. You may also listen to the call live on our Website, http://www.thermofisher.com/, by clicking on "Investors." You will find this press release, including the accompanying reconciliation of non-GAAP financial measures and related information, in that section of our Website under "Quarterly Results." An audio archive of the call will be available under "Webcasts and Presentations" through Monday, May 14, 2007.

    About Thermo Fisher Scientific

    Thermo Fisher Scientific Inc. is the world leader in serving science, enabling our customers to make the world healthier, cleaner and safer. With an annual revenue rate of more than $9 billion, we employ 30,000 people and serve over 350,000 customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as environmental and industrial process control settings. Serving customers through two premier brands, Thermo Scientific and Fisher Scientific, we help solve analytical challenges from routine testing to complex research and discovery. Thermo Scientific offers customers a complete range of high-end analytical instruments as well as laboratory equipment, software, services, consumables and reagents to enable integrated laboratory workflow solutions. Fisher Scientific provides a complete portfolio of laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety and education. Together, we offer the most convenient purchasing options to customers and continuously advance our technologies to accelerate the pace of scientific discovery, enhance value for customers and fuel growth for shareholders and employees alike. Visit http://www.thermofisher.com/.

    The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward- looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2006, under the caption "Risk Factors," which is on file with the Securities and Exchange Commission and available in the "Investors" section of our Website under the heading "SEC Filings." We also may make forward-looking statements about the benefits of the merger of Thermo Electron and Fisher Scientific, including statements about future financial and operating results, the new company's plans, objectives, expectations and intentions and other statements that are not historical facts. Important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; competition and its effect on pricing, spending, third-party relationships and revenues; the need to develop new products and adapt to significant technological change; implementation of strategies for improving internal growth; use and protection of intellectual property; dependence on customers' capital spending policies and government funding policies; realization of potential future savings from new productivity initiatives; general worldwide economic conditions and related uncertainties; the effect of changes in governmental regulations; the effect of exchange rate fluctuations on international operations; the effect of laws and regulations governing government contracts; the effect of competing with certain of our customers and suppliers; and the effect of rapid changes in the healthcare industry. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change and, therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today.

    Media Contact Information: Lori Gorski Phone: 781-622-1242 E-mail: lori.gorski@thermofisher.com Website: http://www.thermofisher.com/ Investor Contact Information: Ken Apicerno Phone: 781-622-1111 E-mail: ken.apicerno@thermofisher.com Consolidated Statement of Income (unaudited) (a)(f)(g) Three Months Ended March 31, % of April 1, % of (In millions except per share 2007 Revenues 2006 Revenues amounts) Revenues $2,338.2 $684.3 Costs and Operating Expenses: Cost of revenues 1,428.1 61.1% 371.7 54.3% Selling, general and administrative expenses 511.2 21.9% 176.9 25.9% Amortization of acquisition- related intangible assets 139.3 6.0% 25.6 3.8% Research and development expenses 59.8 2.6% 38.7 5.7% Restructuring and other costs, net (d) 7.4 0.3% 3.6 0.5% 2,145.8 91.8% 616.5 90.1% Operating Income 192.4 8.2% 67.8 9.9% Interest Income 8.9 3.5 Interest Expense (37.2) (7.7) Other Income, Net 1.6 0.5 Income from Continuing Operations Before Income Taxes 165.7 64.1 Provision for Income Taxes (26.9) (20.5) Income from Continuing Operations 138.8 43.6 Income from Discontinued Operations (net of income tax provision of $0.1) 0.1 -- Gain on Disposal of Discontinued Operations (net of income tax provision of $1.9 in 2006) -- 3.3 Net Income $138.9 5.9% $46.9 6.9% Earnings per Share from Continuing Operations: Basic $.33 $.27 Diluted $.31 $.26 Earnings per Share: Basic $.33 $.29 Diluted $.31 $.28 Weighted Average Shares: Basic 420.1 163.0 Diluted 441.1 167.0 Reconciliation of Adjusted Operating Income and Adjusted Operating Margin GAAP Operating Income (a) $192.4 8.2% $67.8 9.9% Cost of Revenues Charges (c) 36.4 1.6% -- 0.0% Restructuring and Other Costs, Net (d) 7.4 0.3% 3.6 0.5% Amortization of Acquisition- related Intangible Assets 139.3 6.0% 25.6 3.8% Adjusted Operating Income (b) $375.5 16.1% $97.0 14.2% Reconciliation of Adjusted Net Income GAAP Net Income (a) $138.9 5.9% $46.9 6.9% Cost of Revenues Charges (c) 36.4 1.6% -- 0.0% Restructuring and Other Costs, Net (d) 7.4 0.3% 3.6 0.5% Amortization of Acquisition- related Intangible Assets 139.3 6.0% 25.6 3.8% Provision for Income Taxes (e) (60.4) -2.6% (8.0) -1.2% Discontinued Operations, Net of Tax (0.1) 0.0% (3.3) -0.5% Adjusted Net Income (b) $261.5 11.2% $64.8 9.5% Reconciliation of Adjusted Earnings per Share GAAP EPS (a) $0.31 $0.28 Cost of Revenues Charges, Net of Tax (c) 0.06 -- Restructuring and Other Costs, Net of Tax (d) 0.01 0.03 Amortization of Acquisition- related Intangible Assets, Net of Tax 0.21 0.10 Discontinued Operations, Net of Tax -- (0.02) Adjusted EPS (b) $0.59 $0.39 Segment Data Three Months Ended (In millions except percentage March 31, % of April 1, % of amounts) 2007 Revenues 2006 Revenues Revenues Analytical Technologies $1,006.2 43.0% $504.6 73.7% Laboratory Products and Services 1,416.5 60.6% 179.7 26.3% Eliminations (84.5) -3.6% -- 0.0% Consolidated Revenues $2,338.2 100.0% $684.3 100.0% Operating Income and Operating Margin Analytical Technologies $189.8 18.9% $71.5 14.2% Laboratory Products and Services 185.7 13.1% 25.5 14.2% Subtotal Reportable Segments 375.5 16.1% 97.0 14.2% Cost of Revenues Charges (c) (36.4) -1.6% -- 0.0% Restructuring and Other Costs, Net (d) (7.4) -0.3% (3.6) -0.5% Amortization of Acquisition- related Intangible Assets (139.3) -6.0% (25.6) -3.8% GAAP Operating Income (a) $192.4 8.2% $67.8 9.9% Pro Forma Data (Unaudited) (g)(h) Three Months Ended April 1, % of (In millions except percentage 2006 Revenues amounts) Pro Forma Revenues (h) Analytical Technologies $872.2 41.6% Laboratory Products and Services 1,299.9 62.0% Eliminations (75.7) -3.6% Pro Forma Combined Revenues 2,096.4 100.0% Pre-merger Fisher Scientific Results, Net of Eliminations (1,412.1) GAAP Consolidated Revenues (a) $684.3 Pro Forma Operating Income and Operating Margin (h) Analytical Technologies $145.0 16.6% Laboratory Products and Services 135.9 10.5% Other/Eliminations (0.5) Pro Forma Adjusted Combined Operating Income (b) 280.4 13.4% Pre-merger Fisher Scientific Results Included Above (183.4) Adjusted Operating Income (b) 97.0 14.2% Cost of Revenues Charges (c) -- 0.0% Restructuring and Other Costs, Net (d) (3.6) -0.5% Amortization of Acquisition-related Intangible Assets (25.6) -3.8% GAAP Operating Income (a) $67.8 9.9% (a) "GAAP" (reported) results were determined in accordance with U.S. generally accepted accounting principles (GAAP). (b) Adjusted results are non-GAAP measures and exclude certain charges to cost of revenues (see note (c) for details); amortization of acquisition-related intangible assets; restructuring and other costs, net (see note (d) for details); the tax consequences of the preceding items (see note (e) for details); and results of discontinued operations. (c) Reported results in 2007 include $36.4 primarily for charges for the sale of inventories revalued at the date of acquisition. (d) Reported results in 2007 and 2006 include restructuring and other costs, net, consisting principally of severance, abandoned facility and other expenses of real estate consolidation, net of net gains in 2006 on the sale of product lines and abandoned facilities. (e) Reported provision for income taxes includes $60.4 and $8.0 of incremental tax benefit in 2007 and 2006, respectively, for the items in (b) through (d). (f) Consolidated depreciation expense in 2007 and 2006 is $46.0 and $11.8, respectively. (g) Consolidated equity compensation expense included in both reported and adjusted results is $13.8 and $6.1 in 2007 and 2006, respectively. The expense was included as follows: in 2007, cost of revenues $1.3, selling, general and administrative expenses $12.0, and research and development expenses $0.5; and in 2006, cost of revenues $0.6, selling, general and administrative expenses $5.2, and research and development expenses $0.3. Equity compensation expense included in the pro forma 2006 results is $19.5. (h) Pro forma results combine the results of the company with the pre- merger results of Fisher Scientific International Inc. Condensed Consolidated Balance Sheet (unaudited) (In millions) Mar. 31, 2007 Dec. 31, 2006 Assets Current Assets: Cash and cash equivalents $670.9 $667.4 Short-term investments 20.5 23.8 Accounts receivable, net 1,419.0 1,392.7 Inventories 1,180.5 1,164.5 Other current assets 455.3 411.1 Total current assets 3,746.2 3,659.5 Property, Plant and Equipment, Net 1,256.2 1,256.7 Acquisition-related Intangible Assets 7,333.2 7,511.6 Other Assets 258.3 309.4 Goodwill 8,578.0 8,525.0 Total Assets $21,171.9 $21,262.2 Liabilities and Shareholders' Equity Current Liabilities: Short-term obligations and current maturities of long-term obligations $167.4 $483.3 Other current liabilities 1,629.1 1,669.0 Total current liabilities 1,796.5 2,152.3 Other Long-term Liabilities 2,960.3 3,017.4 Long-term Obligations 2,182.4 2,180.7 Total Shareholders' Equity 14,232.7 13,911.8 Total Liabilities and Shareholders' Equity $21,171.9 $21,262.2

    Thermo Fisher Scientific Inc.

    CONTACT: media, Lori Gorski, +1-781-622-1242,
    lori.gorski@thermofisher.com, or investors, Ken Apicerno, +1-781-622-1111,
    ken.apicerno@thermofisher.com, both of Thermo Fisher Scientific Inc.

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

    Company News On-Call: http://www.prnewswire.com/comp/877850.html




    Misys Awarded Prestigious Label by SWIFT for its SWIFTNet Trade Services Utility (TSU) Solution

    LONDON, April 26 /PRNewswire/ -- Misys has been named the first trade services solutions provider to win the SWIFTReady Trade Services Utility (TSU) label. The SWIFTNet TSU has been built by SWIFT to help financial institutions provide competitive supply chain services to their corporate customers. The service became commercially available on 2 April 2007.

    This is the first officially certified end-to-end solution available for banks to interact efficiently with the TSU while helping to improve the financial supply chain management and integration of their corporate customers.

    For further information about this announcement, or if you would like to speak to a spokesperson, please do get in touch.

    Kind regards

    Adam

    Misys awarded prestigious label by SWIFT for its SWIFTNet Trade Services Utility (TSU) solution

    Available as a standalone solution or within Misys Trade Portal to enhance supply chain management capabilities

    - Misys has been named the first trade services solutions provider to win the SWIFTReady Trade Services Utility (TSU) label.

    The SWIFTNet TSU has been built by SWIFT to help financial institutions provide competitive supply chain services to their corporate customers. The service became commercially available on 2 April 2007. The Misys TSU module is available either within the award-winning Internet-based trade finance solution, Misys Trade Portal, or as a standalone solution. This is the first officially certified end-to-end solution available for banks to interact efficiently with the TSU while helping to improve the financial supply chain management and integration of their corporate customers.

    David Hennah, Senior Product Manager at SWIFT, comments, "The purpose of this label is to ensure that third party applications support the TSU messages and rules properly, thereby allowing banks to use the TSU Solution properly and helping them regain the trade business which has been lost in the move to open account. SWIFT has been working very closely with Misys over the past decade and is delighted that Misys is the first vendor to have reached the quality standard high enough to deserve the SWIFTReady label for its TSU solution."

    Olivier Berthier, Head of Product Management, Misys Trade Services, adds, "The move to open account has required us to adapt our solution to meet our customers' current needs. The TSU is a very interesting development in this space and we are proud to have been involved since its inception. We believe that the TSU will help banks get more business and more opportunities to cross-sell their products in the fast growing open account space. We look forward to working with the more innovative banks to ensure they select the most appropriate solution for their needs."

    The TSU is a collaborative, centralised data matching and workflow engine for SWIFT's banking community. It has been devised in consultation with SWIFT's Trade Services Advisory Group (TSAG). The group comprises some of the world's leading trade services providers, including one Misys Trade Portal user, BNP Paribas. Two other users of Misys Trade Portal, Calyon and Societe Generale, are also among the group of early adopter banks that have signed up for the TSU.

    Through its close partnership with SWIFT, Misys now has , the first SWIFT-labelled solution available that supports the TSU from end to end. Misys Trade Portal supports all 41 TSU messages and processes that are currently in use and can be easily integrated with a bank's existing SWIFT messaging infrastructure.

    Users of Misys Trade Portal are able to fully automate purchase order handling and open account transactions and can also process Letters of Credit (LCs) much more efficiently. Users can also define automatically whether to process a transaction as an open account or a traditional trade finance transaction and route it accordingly.

    About Misys plc

    Misys plc (LSE:MSY), the global software and solutions company, is one of the world's largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries, combining technological expertise with in-depth understanding of customers' markets and operational needs. In banking Misys is a market leader, specialising in both the treasury and capital markets and core banking areas, having over 1,200 customers, including all of the world's top 50 banks. In healthcare Misys is also a market leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to financial advisers in the UK. Misys employs around 6,000 people who serve customers in more than 120 countries. For more information, visit www.misys.com

    For further information please contact Edward Taylor Global Head of Public Relations Misys Banking Systems +44-(0)-208-486-1661 edward.taylor@misys.com Caroline Parker Financial Dynamics +44-(0)-207-269-7295 caroline.parker@fd.com

    Misys Banking Systems

    For further information please contact: Edward Taylor, Global Head of Public Relations, Misys Banking Systems, +44-(0)-208-486-1661, edward.taylor@misys.com; Caroline Parker, Financial Dynamics, +44-(0)-207-269-7295, caroline.parker@fd.com




    Chi Mei Optoelectronics Announces Unaudited Unconsolidated First Quarter 2007

    Net Sales of NT$ 47 Billion and Operating Margin of 1.3%

    TAINAN, Taiwan, April 26 /Xinhua-PRNewswire-FirstCall/ -- Chi Mei Optoelectronics (CMO) (TAIEX: 3009) today reported that unconsolidated net sales for the first quarter 2007 amounted to NT$ 47,095 million, a 14.7% decrease over the NT$ 55,217 million reported in the fourth quarter 2006. Gross profit was NT$ 4,026 million, for a gross margin of 8.5%. Operating income totaled NT$ 605 million with a net loss of NT$ 1,104 million. Operating and net margins were 1.3% and -2.3%, respectively. EPS equaled NT$ -0.19.

    On an unconsolidated basis, the company shipped 9 million panels in the first quarter 2007, which represents a 9% decrease over the 9.9 million panels shipped in the fourth quarter 2006. Blended ASP on a per unit basis decreased by 6% from USD$ 169 in the fourth quarter 2006 to USD$ 159 in the first quarter 2007.

    CMO Unconsolidated 1Q07 Income Statement - QoQ Comparison Amount: NT$ million QoQ% Except Per Share Data 1Q07 %Revenue 4Q06 %Revenue Change Net Sales 47,095 100.0% 55,217 100.0% -14.7% Cost of Goods Sold -43,069 -91.5% -49,216 -89.1% -12.5% Gross Profit 4,026 8.5% 6,001 10.9% -32.9% Operating Expenses(1) -3,421 -7.2% -4,708 -8.5% -27.3% Operating Income 605 1.3% 1,293 2.4% -53.2% Net Non-operating Income (Exp.) -1,708 -3.6% -856 -1.6% 99.5% Income before Tax -1,103 -2.3% 437 0.8% -- EBITDA(2) 10,172 21.6% 10,340 18.7% -1.6% Net Income(3) -1,104 -2.3% 436 0.8% -- Basic EPS (NT$)(4) -0.19 -- 0.05 -- -- Notes 1. Operating Expenses includes NT$243 million in donations to NCKU in 4Q06 2. EBITDA = Operation Income + Depreciation & Amortization 3. Net income before preferred dividend 4. Calculation of basic EPS is after preferred dividend and based on weighted average of outstanding common shares 5. All figures are unaudited, prepared by Chi Mei Optoelectronics CMO 1Q07 Selective Balance Sheet and other items Amount: NT$ million 1Q07 4Q06 1Q06 Cash & Cash Equivalent 20,292 26,779 8,735 Inventory 26,595 23,774 21,499 Total Assets 389,515 412,420 290,208 Short Term Debt (1) 26,087 20,313 15,302 Long Term Debt 119,749 134,073 73,487 Shareholders' Equity (2) 184,402 188,283 151,758 Depreciation & Amortization 9,567 9,047 7,559 Capital Expenditure 21,591 40,123 19,508 Net Debt to Shareholders' Equity 68.1% 67.8% 52.8% Notes 1. Short term debt = (short-term bank loan + commercial papers + current portion of long term loans) 2. Capital Stock (common): NT$ 64.86 billion 3. All figures are unaudited, prepared by Chi Mei Optoelectronics Announcement Contact: Eddie Chen CMO Acting Spokesperson Tel: +886-06-5053760 Email: ir@cmo.com.tw Loreta Chen CMO Public Relations Tel: +886-06-5051888 #11202 Email: loreta_chen@cmo.com.tw

    Chi Mei Optoelectronics

    CONTACT: Eddie Chen, +886-06-5053760, or ir@cmo.com.tw, or Loreta Chen,
    +886-06-5051888 #11202, or loreta_chen@cmo.com.tw, both of Chi Mei
    Optoelectronics

    Web site: http://www.cmo.com.tw/




    TSMC Reports First Quarter EPS of NT$0.73

    HSINCHU, Taiwan, April 26 /Xinhua-PRNewswire-FirstCall/ -- TSMC today announced consolidated revenue of NT$64.90 billion, net income of NT$18.84 billion, and diluted earnings per share of NT$0.73 (US$0.11 per ADS unit) for the first quarter ended March 31, 2007.

    Year-over-year, first quarter revenue decreased 16.6% while net income and diluted EPS decreased 42.2% and 42.3%, respectively. On a sequential basis, first quarter results represent a 13.4% decrease in revenue, and a decrease of 32.5% both in net income and in diluted EPS. All figures were prepared in accordance with R.O.C. GAAP on a consolidated basis.

    First quarter business was affected by inventory correction and seasonality, but revenue slightly exceeded the guidance given on January 25. Advanced process technologies (0.13-micron and below) accounted for 49% of wafer revenues with 90-nanometer process technology accounting for 22% and 65- nanometer about 1% of total wafer sales. Gross margin of 37.9% reached the mid point of the guidance, while operating margin of 27.5% was close to the high end of guidance. Net margin decreased 8.2 percentage points to 29% from the previous quarter.

    ''A majority of our customers' excess inventory has been worked through in the first quarter and the recovery of our business is already in place,'' said Lora Ho, VP and Chief Financial Officer of TSMC. ''Relative to the first quarter, the communication and consumer segments will rebound quite well while the computer segment will grow at a lower pace,'' said Ho. ''Based on our current business outlook, management's expectations for second quarter 2007 performance are as follows'':

    -- Revenue is expected to be between NT$73 billion and NT$75 billion; -- Gross profit margin is expected to be between 42% and 44%; -- Operating profit margin is expected to be between 32% and 34%. Conference Call & Webcast Notice:

    TSMC's quarterly review conference call will be held at 8 a.m. Eastern Time (8 p.m. Taiwan Time) on Thursday, April 26, 2007. The conference call will also be webcast live on the Internet. Investors wishing to access the live webcast should visit TSMC's web site at http://www.tsmc.com/ at least 15 minutes prior to the broadcast. Instructions will be provided on the web site to facilitate the download and installation of necessary audio applications. Investors without Internet access may listen to the conference call, in listen-only mode, by dialing 1-617-614-2707 in the U.S., 852-3002-1672 in Hong Kong, 65-6823-2164 in Singapore, and 44-207-365-8426 in the U.K. (Password: TSMC). An archived version of the webcast will be available on TSMC's web site for six months following the Company's quarterly review conference call and webcast.

    Profile

    TSMC (TAIEX: 2330; NYSE: TSM) is the world's largest dedicated semiconductor foundry, providing the industry's leading manufacturing capacity, process technology, and the foundry industry's largest portfolio of process- proven libraries, IP, design tools and reference flows. TSMC currently operates two twelve-inch wafer fabs, four eight-inch fabs and one six-inch fab. The Company also operates two eight-inch fabs at its wholly owned subsidiaries, WaferTech in the U.S. and TSMC (Shanghai) Company, Ltd. in China, and has substantial capacity commitments from a joint-venture fab, SSMC, in Singapore. Total managed capacity in 2006 exceeded seven million eight-inch equivalent wafers. TSMC is the first foundry to provide 65-nanometer production capabilities. TSMC's corporate headquarters are in Hsin-Chu, Taiwan. More information about TSMC is available at http://www.tsmc.com/ .

    -Management Report and Tables Follow- TSMC 1Q07 Quarterly Management Report April 26, 2007 Topics in This Report -- Revenue Analysis -- Capacity -- Profit & Expense Analysis -- Financial Condition Review -- Cash Flow & CapEx -- Recap of Recent Important Events & Announcements Operating Results Review: Summary: (Amounts are on consolidated basis and are in NT$ billion except 1Q07 4Q06 1Q06 QoQ YoY noted otherwise) EPS (NT$ per com. shr.) 0.73 1.08 1.26 (32.5%) (42.3%) (US$ per ADR unit) 0.11 0.16 0.20 -- -- Consolidated Net Sales 64.90 74.96 77.85 (13.4%) (16.6%) Gross Profit 24.61 34.45 37.73 (28.6%) (34.8%) Gross Margin 37.9% 46.0% 48.5% -- -- Operating Expense (6.73) (7.05) (6.82) (4.4%) (1.3%) Non-Operating Items* 2.19 2.10 3.62 4.3% (39.5%) Net Income 18.84 27.91 32.61 (32.5%) (42.2%) Net Profit Margin 29.0% 37.2% 41.9% -- -- Wafer Shipment (kpcs 8 inch-equiv.) 1,566 1,718 1,738 (8.9%) (9.9%) * 1Q06 non-operating items include cumulative effect of changes in accounting principle. Remarks:

    The first quarter diluted earnings per share were NT$0.73, representing a 42.3% decrease over the same period last year and a 32.5% sequential decline from the previous quarter. The consolidated operating results of 1Q07 are summarized below:

    First quarter net sales were NT$65 billion, down 16.6% from NT$78 billion in first quarter 2006 and down 13.4% from NT$75 billion in fourth quarter 2006.

    Gross profit for 1Q07 was NT$24.6 billion, representing a year-over-year decrease of 34.8% and a quarter-over-quarter decline of 28.6%. Gross margin was 37.9% in the first quarter 2007, down from 46% in the previous quarter.

    Operating expenses were NT$6.7 billion or 10.4% of the net sales. The combined result from non-operating income and long-term investments was a gain of NT$2.2 billion.

    Consolidated net income attributable to shareholders of the parent company was NT$18.8 billion, down 42.2% over the same period last year and down 32.5% from the previous quarter. Net profit margin was 29% in first quarter 2007.

    I. Revenue Analysis I.Wafer Sales Analysis By Application 1Q07 4Q06 1Q06 Computer 29% 32% 37% Communication 42% 42% 39% Consumer 16% 16% 18% Industrial/Others 9% 7% 5% Memory 4% 3% 1% By Technology 1Q07 4Q06 1Q06 N90- 23% 23% 20% 0.11/0.13um 26% 25% 29% 0.15/0.18um 30% 33% 32% 0.25/0.35um 15% 14% 14% 0.50um+ 6% 5% 5% By Customer Type 1Q07 4Q06 1Q06 Fabless/System 70% 72% 74% IDM 30% 28% 26% By Geography 1Q07 4Q06 1Q06 North America 77% 78% 78% Asia Pacific 11% 11% 11% Europe 7% 7% 7% Japan 5% 4% 4% Revenue Analysis:

    First quarter business was affected by inventory correction and seasonality, but consolidated net sales exceeded the high end of the guidance slightly to reach NT$64.9 billion, mainly due to better than expected exchange rates and an increase in revenues from our subsidiaries.

    On a sequential basis, revenues from all three applications declined. Revenues from computer, communications and consumer applications declined by 21%, 15% and 12%, respectively.

    Revenues from 65nm and 90nm accounted for about 23% of total wafer sales, flat from the fourth quarter 2006. Revenues from advanced technologies (0.13- micron and below) accounted for 49% of total wafer sales, up one percentage point from the previous quarter.

    Revenues from IDM customers accounted for 30% of total wafer sales during the quarter, compared to 28% in the previous quarter.

    Geographically, revenues from North America accounted for 77% of total wafer sales. Meanwhile, sales from Asia Pacific, Europe and Japan accounted for 11%, 7% and 5% of wafer sales, respectively.

    II. Capacity II. Capacity Fab / (Wafer size) 1Q07(A) 2Q07(F) 3Q07(F) 4Q07(F) 2007(F) Fab-2 (6")(Note 1) 257 257 273 273 1,060 Fab-3 (8") 259 262 267 269 1,057 Fab-5 (8") 144 155 163 166 627 Fab-6 (8") 245 255 274 279 1,053 Fab-7 (8") 0 0 0 0 0 Fab-8 (8") 239 239 260 265 1,004 Fab-12 (12")(Note 2) 169 180 205 221 775 Fab-14 (12")(Note 2) 103 113 154 176 546 WaferTech (8") 104 105 106 106 419 TSMC (Shanghai) (8") 90 94 98 101 383 TSMC total capacity (8" equiv. Kpcs) 1,836 1,913 2,128 2,232 8,109 SSMC (8") 53 55 56 61 226 Total managed capacity (8" equiv. Kpcs) 1,890 1,968 2,184 2,293 8,335 Note: 1. Figures represent number of 6 wafers. Conversion to 8-equivalent wafers is by dividing this number by 1.78 2. Figures represent number of 12 wafers. Conversion to 8-equivalent wafers is by multiplying this number by 2.25 Capacity:

    Total TSMC managed capacity was 1,890K 8-inch equivalent wafers in 1Q07, 1% lower than the 1,912K 8-inch equivalent wafers in 4Q06, largely due to fewer working days and scheduled annual maintenance for some of the TSMC fabs.

    TSMC managed capacity in 2Q07 will increase by 4% to reach 1,968K 8-inch equivalent wafers.

    Total managed capacity for year 2007 is expected to be 8,335K 8-inch equivalent wafers, up 18% from 7,062K 8-inch equivalent wafers in year 2006.

    III. Profit & Expense Analysis III - 1. Gross Profit Analysis (Amount: NT$ billion) 1Q07 4Q06 1Q06 COGS 40.3 40.5 40.1 Depreciation 18.5 18.2 16.2 Other MFG Cost 21.8 22.3 23.9 Gross Profit 24.6 34.5 37.7 Gross Margin 37.9% 46.0% 48.5% Gross Profit Analysis:

    Consolidated gross profit for the first quarter 2007 was NT$24.6 billion, or 37.9% of net sales, down from a gross profit of NT$34.5 billion, or 46% of net sales, in the previous quarter. The gross margin declined by 8.1 percentage points largely due to lower capacity utilization, lower average selling price, an increase in depreciation expenses, and a lower provision for sales returns in 4Q06.

    III - 2. Operating Expenses (Amount: NT$ billion) 1Q07 4Q06 1Q06 Total Operating Exp. 6.73 7.05 6.82 SG&A 2.79 2.91 2.98 Research & Development 3.94 4.13 3.84 * Certain prior period amounts have been reclassified to conform with the current period presentation. Operating Expenses:

    Total operating expenses for 1Q07 were NT$6.7 billion, compared to NT$7.1 billion in fourth quarter 2006. Total operating expenses represented 10.4% of net sales, compared to 9.4% for the previous quarter.

    Research and development expenditures decreased by NT$193 million sequentially, mainly due to a reduction in 65nm related expenditures as we entered into volume production for 65nm process node.

    SG&A expenses were NT$2.8 billion, compared to NT$2.9 billion in fourth quarter 2006.

    III - 3. Non-Operating Items (Amount: NT$ million) 1Q07 4Q06 1Q06 Non-Operating Income/(Exp.) 1,830 1,713 1,417 Net Interest Income/(Exp.) 1,162 1,030 775 Other Non-Operating 668 683 642 L-T Investments 361 388 600 SSMC 70 59 462 Others 291 329 138 Total Non-Operating Items 2,191 2,101 2,017 Non-Operating Items:

    Combined result from non-operating income and long-term investments was a gain of NT$2.2 billion for first quarter 2007.

    Non-operating income totaled NT$1.8 billion during the first quarter 2007, compared to an income of NT$1.7 billion in the previous quarter. Higher non- operating income was mainly due to an increase in interest income.

    Net investment income was NT$361 million in first quarter 2007, compared to an income of NT$388 million in 4Q06.

    IV. Financial Condition Review IV - 1. Liquidity Analysis * (Selected Balance Sheet Items) (Amount: NT$ billion) 1Q07 4Q06 1Q06 Cash & Marketable Securities 217.4 195.1 192.3 Accounts Receivable - Trade 33.1 31.6 38.0 Inventory 22.3 21.4 18.4 Total Current Assets 286.1 260.3 259.3 Accounts Payable 19.2 20.6 22.4 Current Portion of Bonds Payable 4.5 7.0 2.5 Accrued Liabilities and Others 21.4 19.3 16.0 Total Current Liabilities 45.1 46.9 40.9 Current Ratio (x) 6.3 5.6 6.3 Net Working Capital 241.0 213.5 218.4 Liquidity Analysis:

    Total cash and marketable securities increased by NT$22 billion in the first quarter 2007, mainly due to the free cash flows generated during the quarter. As a result, TSMC ended the quarter with NT$286.1 billion in total current assets, compared to NT$260.3 billion at the end of the previous quarter.

    Total current liabilities were NT$45.1 billion at the end of the first quarter 2007, compared to NT$46.9 billion at the end of the previous quarter. The decrease was mainly due to the repayment of NT$2.5 billion in bonds payable.

    As a result, net working capital increased to NT$241 billion and current ratio improved to 6.3.

    IV - - 2. Receivable/Inventory Days 1Q07 4Q06 1Q06 Days of Receivable 47 43 46 Days of Inventory 52 50 44 Receivable/Inventory Days Trend:

    Days of receivable were 47 days in 1Q07, compared to 43 days in the previous quarter.

    Days of inventory increased by 2 days to reach 52 days. IV - 3. Debt Service (Amount: NT$ Billion) 1Q07 4Q06 1Q06 Cash & Marketable Securities 217.4 195.1 192.3 Interest-Bearing Debt 26.2 27.6 27.2 Net Cash Reserves 191.2 167.5 165.1 Debt Service:

    As a result of the free cash flows generated during the quarter, net cash reserves -- defined as the excess of cash and short-term marketable securities over interest-bearing debt -- increased by NT$23.7 billion to reach NT$191.2 billion in 1Q07.

    V - 1. Consolidated Cash Flow Analysis (Amount: NT$ billion) 1Q07 4Q06 1Q06 Net Income 18.8 27.9 32.6 Depreciation & Amortization 20.3 19.7 17.7 Other Op Sources/(Uses) (1.0) 5.4 (1.4) Total Op Sources/(Uses) 38.1 53.0 48.9 Capital Expenditure (14.0) (17.6) (11.5) Marketable Financial Instruments 3.5 (6.7) (12.8) Other Investing Sources/(Uses) (2.9) (4.1) 0.2 Net Investing Sources/(Uses) (13.4) (28.4) (24.1) Repayment of Bonds Payable (2.5) 0.0 0.0 Other Financing Sources/(Uses) (0.3) 0.8 0.1 Net Financing Sources/(Uses) (2.8) 0.8 0.1 Net Cash Position Changes 21.9 25.4 24.9 Exchange Rate Changes & Others 0.6 (0.5) (0.2) Ending Cash Balance 140.3 117.8 121.3 Summary of Consolidated Cash Flow:

    During first quarter 2007, TSMC generated NT$38 billion in cash from operating activities, mainly from net income of NT$18.8 billion and depreciation & amortization of NT$20.3 billion.

    Net cash used in investment activities totaled NT$13.4 billion, mainly due to capital expenditures of NT$14 billion.

    Net cash used in financing activities was NT$2.8 billion during the quarter, mainly for the repayment of NT$2.5 billion in bonds payable.

    As a result, TSMC ended the quarter with a cash balance of NT$140.3 billion, NT$22.4 billion higher than in 4Q06.

    Consolidated Operating and Free Cash Flows:

    TSMC continues to generate strong operating cash flows and free cash flows. Cash flows generated from operating activities were NT$38 billion, down from NT$53 billion generated in 4Q06. Free cash flows, defined as the excess of operating cash flows over capital expenditures, totaled NT$24.2 billion in 1Q07, compared to NT$35.4 billion generated in the previous quarter, mainly due to lower operating cash flows in 1Q07.

    To view V - 2. Consolidated Operating and Free Cash Flows, please visit http://www.tsmc.com/uploadfile/ir/quarterly/index_charts.pdf .

    V - 3. Capital Expenditures (In US$ Million) 4Q06 1Q07 TSMC 561 419 TSMC Subsidiaries 10 5 Total TSMC 571 424 Capital Expenditures:

    Capital expenditures for TSMC consolidated group totaled US$424 million during the quarter. Most of the spending was for the purchase of 12-inch production equipment.

    For year 2007, total capital expenditures for TSMC consolidated group is expected to be in the range of US$2.6 billion to US$2.8 billion, unchanged from our previous guidance provided in January 2007.

    VI. Recap of Recent Important Events & Announcements -- TSMC 45nm Design Ecosystem In Place (2007/04/09) -- TSMC Expects to Enter 45nm Production in September (2007/04/09) -- TSMC Board Approves Conversion of Philips' TSMC Common Shares to ADSs (2007/04/02) -- TSMC Announces 55nm Process Technology Readiness (2007/03/27) -- Philips and TSMC Announce Joint Plan to Facilitate Orderly Exit by Philips from TSMC Shareholding (2007/03/09) -- TSMC Achieves 65 Nanometer Embedded DRAM Milestone (2007/03/06) -- TSMC Board Proposes Distribution of NT$3.0 Cash and 0.5% Stock Per Share (2007/02/06) -- TSMC Opens Office in India (2007/02/05) * Please visit TSMC's Web site ( http://www.tsmc.com/ ) for details about these and other announcements. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES

    Consolidated Condensed Balance Sheets (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) (1)

    December 31, 2006 March 31, 2007 (unaudited) (Audited) ASSETS USD NTD % NTD % Current Assets Cash and Cash Equivalents $4,239 $140,274 23.0 $117,837 20.1 Investments in Marketable Financial Instruments 2,330 77,096 12.7 77,242 13.1 Accounts Receivable - Trade 1,000 33,094 5.4 31,589 5.4 Inventories, Net 673 22,259 3.7 21,431 3.6 Other Current Assets 404 13,356 2.2 12,218 2.1 Total Current Assets 8,646 286,079 47.0 260,317 44.3 Long-Term Investments 1,577 52,185 8.6 53,895 9.2 Property, Plant and Equipment 22,188 734,182 120.6 717,132 122.1 Less: Accumulated Depreciation (14,622) (483,834) -79.5 (463,038) -78.8 Property, Plant and Equipment, Net 7,566 250,348 41.1 254,094 43.3 Other Assets 609 20,159 3.3 19,179 3.2 Total Assets $18,398 $608,771 100.0 $587,485 100.0 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Short-Term Bank Loans $2 $79 0.0 $-- -- Accounts Payables 306 10,129 1.7 9,802 1.7 Payables to Contractors and Equipment Suppliers 275 9,094 1.5 10,769 1.8 Accrued Expenses and Other Current Liabilities 639 21,101 3.4 19,286 3.3 Current Portion of Bonds Payable and Long-Term liabilities 142 4,714 0.8 7,004 1.2 Total Current Liabilities 1,364 45,117 7.4 46,861 8.0 Bonds Payable 378 12,500 2.1 12,500 2.1 Other Long-Term Liabilities 586 19,415 3.2 18,986 3.2 Total Liabilities 2,328 77,032 12.7 78,347 13.3 Shareholders' Equity Attributable to Shareholders of the Parent Capital Stock 7,807 258,330 42.4 258,297 44.0 Capital Surplus 1,639 54,231 8.9 54,107 9.2 Retained Earnings 6,527 215,963 35.5 197,125 33.6 Treasury Stock (28) (918) -0.2 (918) -0.2 Others 31 1,020 0.2 (630) -0.1 Total Equity Attributable to Shareholders of the Parent 15,976 528,626 86.8 507,981 86.5 Minority Interest 94 3,113 0.5 1,157 0.2 Total Shareholders' Equity 16,070 531,739 87.3 509,138 86.7 Total Liabilities & Shareholders' Equity $18,398 $608,771 100.0 $587,485 100.0 TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES

    Consolidated Condensed Balance Sheets (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars(USD)) (1)

    March 31, 2006 (unaudited) ASSETS NTD % Current Assets Cash and Cash Equivalents $121,251 21.8 Investments in Marketable Financial Instruments 71,006 12.8 Accounts Receivable - Trade 38,012 6.8 Inventories, Net 18,409 3.3 Other Current Assets 10,572 2.0 Total Current Assets 259,250 46.7 Long-Term Investments 34,726 6.3 Property, Plant and Equipment 655,396 118.0 Less: Accumulated Depreciation (413,852) -74.5 Property, Plant and Equipment, Net 241,544 43.5 Other Assets 19,772 3.5 Total Assets $555,292 100.0 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Short-Term Bank Loans $-- -- Accounts Payables 10,687 1.9 Payables to Contractors and Equipment Suppliers 11,680 2.1 Accrued Expenses and Other Current Liabilities 15,996 2.9 Current Portion of Bonds Payable and Long-Term liabilities 2,505 0.5 Total Current Liabilities 40,868 7.4 Bonds Payable 17,000 3.1 Other Long-Term Liabilities 18,813 3.3 Total Liabilities 76,681 13.8 Shareholders' Equity Attributable to Shareholders of the Parent Capital Stock 247,331 44.5 Capital Surplus 57,208 10.3 Retained Earnings 175,378 31.6 Treasury Stock (918) -0.2 Others (1,066) -0.1 Total Equity Attributable to Shareholders of the Parent 477,933 86.1 Minority Interest 678 0.1 Total Shareholders' Equity 478,611 86.2 Total Liabilities & Shareholders' Equity $555,292 100.0 TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Consolidated Condensed Balance Sheets

    (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD))(1)

    QoQ YoY ASSETS Amount % Amount % Current Assets Cash and Cash Equivalents $22,437 19.0 $19,023 15.7 Investments in Marketable Financial Instruments (146) -0.2 6,090 8.6 Accounts Receivable - Trade 1,505 4.8 (4,918) -12.9 Inventories, Net 828 3.9 3,850 20.9 Other Current Assets 1,138 9.3 2,784 26.3 Total Current Assets 25,762 9.9 26,829 10.3 Long-Term Investments (1,710) -3.2 17,459 50.3 Property, Plant and Equipment 17,050 2.4 78,786 12.0 Less: Accumulated Depreciation (20,796) 4.5 (69,982) 16.9 Property, Plant and Equipment, Net (3,746) -1.5 8,804 3.6 Other Assets 980 5.1 387 2.0 Total Assets $21,286 3.6 $53,479 9.6 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Short-Term Bank Loans $79 -- $79 -- Accounts Payables 327 3.3 (558) -5.2 Payables to Contractors and Equipment Suppliers (1,675) -15.6 (2,586) -22.1 Accrued Expenses and Other Current Liabilities 1,815 9.4 5,105 31.9 Current Portion of Bonds Payable and Long-Term liabilities (2,290) -32.7 2,209 88.1 Total Current Liabilities (1,744) -3.7 4,249 10.4 Bonds Payable -- 0.0 (4,500) -26.5 Other Long-Term Liabilities 429 2.3 602 3.2 Total Liabilities (1,315) -1.7 351 0.5 Shareholders' Equity Attributable to Shareholders of the Parent Capital Stock 33 0.0 10,999 4.4 Capital Surplus 124 0.2 (2,977) -5.2 Retained Earnings 18,838 9.6 40,585 23.1 Treasury Stock -- 0.0 -- -- Others 1,650 -261.9 2,086 -195.7 Total Equity Attributable to Shareholders of the Parent 20,645 4.1 50,693 10.6 Minority Interest 1,956 169.1 2,435 359.4 Total Shareholders' Equity 22,601 4.4 53,128 11.1 Total Liabilities & Shareholders' Equity $21,286 3.6 $53,479 9.6 Note: (1) Amounts in New Taiwan dollars have been translated into U.S. dollars at the rate of NT$33.089 as of March 31, 2007. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Unaudited Consolidated Condensed Income Statements For the Three Months Ended March 31, 2007, December 31, 2006,

    and March 31, 2006 (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) (1)

    Except for Per Share Amounts and Shares Outstanding) Q1 2007 Q4 2006 USD NTD % NTD % Net Sales $1,973 $64,897 100.0 $74,963 100.0 Cost of Sales (1,225) (40,287) -62.1 (40,510) -54.0 Gross Profit 748 24,610 37.9 34,453 46.0 Operating Expenses Research and Development Expenses (4) (120) (3,942) -6.1 (4,135) -5.5 General and Administrative Expenses (4) (58) (1,902) -2.9 (2,117) -2.8 Sales and Marketing Expenses (4) (26) (889) -1.4 (794) -1.1 Total Operating Expenses (204) (6,733) -10.4 (7,046) -9.4 Income from Operations 544 17,877 27.5 27,407 36.6 Non-Operating Income, Net 55 1,830 2.8 1,713 2.3 Investment Gains 11 361 0.6 388 0.5 Income before Income Tax 610 20,068 30.9 29,508 39.4 Income Tax (Expenses) Benefits (33) (1,107) -1.7 (1,494) -2.0 Net Income Before Cumulative Effect of Changes in Accounting Principles 577 18,961 29.2 28,014 37.4 Cumulative Effect of Changes in Accounting Principles (Net of Tax) -- -- -- -- -- Net Income 577 18,961 29.2 28,014 37.4 Minority Interest (4) (122) -0.2 (102) -0.2 Net Income Attributable to Shareholders of the Parent 573 18,839 29.0 27,912 37.2 Earnings per Share - Diluted $0.02 $0.73 -- $1.08 -- Earnings per ADR - Diluted (2) $0.11 $3.65 -- $5.41 -- Weighted Average Outstanding Shares - Diluted ('M) (3) -- 25,820 -- 25,815 -- TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Unaudited Consolidated Condensed Income Statements For the Three Months Ended March 31, 2007, December 31, 2006,

    and March 31, 2006 (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) (1)

    Except for Per Share Amounts and Shares Outstanding) Q1 2006 NTD % Net Sales $77,850 100.0 Cost of Sales (40,123) -51.5 Gross Profit 37,727 48.5 Operating Expenses Research and Development Expenses (4) (3,840) -4.9 General and Administrative Expenses (4) (1,864) -2.4 Sales and Marketing Expenses (4) (1,121) -1.4 Total Operating Expenses (6,825) -8.8 Income from Operations 30,902 39.7 Non-Operating Income, Net 1,417 1.8 Investment Gains 600 0.8 Income before Income Tax 32,919 42.3 Income Tax (Expenses) Benefits (1,855) -2.4 Net Income Before Cumulative Effect of Changes in Accounting Principles 31,064 39.9 Cumulative Effect of Changes in Accounting Principles (Net of Tax) 1,607 2.1 Net Income 32,671 42.0 Minority Interest (64) -0.1 Net Income Attributable to Shareholders of the Parent 32,607 41.9 Earnings per Share - Diluted $1.26 -- Earnings per ADR - Diluted (2) $6.32 -- Weighted Average Outstanding Shares - Diluted ('M) (3) 25,805 -- TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Unaudited Consolidated Condensed Income Statements For the Three Months Ended March 31, 2007, December 31, 2006,

    and March 31, 2006 (Expressed in Millions of New Taiwan Dollars (NTD) and U.S.Dollars (USD)) (1)

    Except for Per Share Amounts and Shares Outstanding) QoQ YoY Amount % Amount % Net Sales ($10,066) -13.4 ($12,953) -16.6 Cost of Sales 223 -0.6 (164) 0.4 Gross Profit (9,843) -28.6 (13,117) -34.8 Operating Expenses Research and Development Expenses (4) 193 -4.6 (102) 2.7 General and Administrative Expenses(4) 215 -10.2 (38) 2.0 Sales and Marketing Expenses (4) (95) 11.9 232 -20.7 Total Operating Expenses 313 -4.4 92 -1.3 Income from Operations (9,530) -34.8 (13,025) -42.1 Non-Operating Income, Net 117 6.9 413 29.2 Investment Gains (27) -7.1 (239) -39.9 Income before Income Tax (9,440) -32.0 (12,851) -39.0 Income Tax (Expenses) Benefits 387 -25.9 748 -40.3 Net Income Before Cumulative Effect of Changes in Accounting Principles (9,053) -32.3 (12,103) -39.0 Cumulative Effect of Changes in Accounting Principles (Net of Tax) -- -- (1,607) -100.0 Net Income (9,053) -32.3 (13,710) -42.0 Minority Interest (20) 18.9 (58) 91.1 Net Income Attributable to Shareholders of the Parent (9,073) -32.5 (13,768) -42.2 Earnings per Share - Diluted -$0.35 -32.5 -$0.53 -42.3 Earnings per ADR - Diluted (2) -$1.76 -32.5 -$2.67 -42.3 Weighted Average Outstanding Shares - Diluted ('M) (3) Note: (1) Amounts in New Taiwan dollars have been translated into U.S. dollars at the weighted average rate of NTD32.888 for the first quarter of 2007. (2) 1 ADR equals 5 ordinary shares. (3) Total diluted weighted average outstanding shares were 25,805M shares for 1Q06 after the retroactive adjustments for stock dividends and stock bonus. (4) Certain prior period balances have been reclassified to conform to the current period presentation. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Consolidated Condensed Statements of Cash Flows For the Three Months Ended March 31, 2007, December 31, 2006, and March

    31, 2006 (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD))(1)

    1Q 2007 4Q 2006 1Q 2006 (Unaudited) (Unaudited)(Unaudited) USD NTD NTD NTD Cash Flows from Operating Activities: Net Income $573 $18,839 $27,912 $32,607 Net Income Attributable to Minority Interest 4 122 103 64 Depreciation & Amortization 616 20,251 19,682 17,734 Deferred Income Tax (30) (972) 7 (609) Equity in Earnings of Equity Method Investees, Net (11) (361) (388) (600) Changes in Working Capital & Others 8 265 5,698 (282) Net Cash Provided by Operating Activities 1,160 38,144 53,014 48,914 Cash Flows from Investing Activities: Acquisitions: Marketable Financial Instruments (480) (15,796) (38,210) (32,731) Investments Accounted for Using Equity Method -- -- (2,433) -- Property, Plant and Equipment (424) (13,959) (17,580) (11,510) Financial Assets Carried at Cost (6) (212) (16) (122) Proceeds from Disposal or maturity of: Marketable Financial Instruments 586 19,259 31,539 19,931 Investments Accounted for Using Equity Method -- -- -- -- Property, Plant and Equipment -- 1 54 462 Financial Assets Carried at Cost -- 14 21 -- Others (84) (2,717) (1,750) (142) Net Cash Used In Investing Activities (408) (13,410) (28,375) (24,112) Cash Flows from Financing Activities: Increase (Decrease) in Guarantee Deposits (12) (388) 133 322 Proceeds from Exercise of Stock Options 4 122 152 117 Bonus Paid to Directors and Supervisors -- -- -- -- Repayment of Long-Term Bonds Payable (76) (2,500) -- -- Cash Dividends Paid for Common Stock -- -- -- -- Cash Bonus Paid to Employees -- -- -- -- Others (1) (28) 480 (323) Net Cash (Used in) Provided by Financing Activities (85) (2,794) 765 116 Net Increase in Cash and Cash Equivalents 667 21,940 25,404 24,918 Effect of Exchange Rate Changes and Others 15 497 (470) (151) Cash and Cash Equivalents at Beginning of Period 3,583 117,837 92,903 96,484 Cash and Cash Equivalents at End of Period $4,265 $140,274 $117,837 $121,251 Note: (1) Amounts in New Taiwan dollars have been translated into U.S. dollars at the weighted average rate of NTD32.888 for the three months ended March 31, 2007. Safe Harbor Notice:

    The statements included in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. TSMC cautions readers that forward-looking statements are subject to significant risks and uncertainties and are based on TSMC's current expectations. Actual results may differ materially from those contained in such forward-looking statements for a variety of reasons including, among others, risks associated with cyclicality and market conditions in the semiconductor industry; demand and supply for TSMC's foundry manufacturing capacity in particular and for foundry manufacturing capacity in general; intense competition; the failure of one or more significant customers to continue to place the same level of orders with us; TSMC's ability to remain a technological leader in the semiconductor industry; TSMC's ability to manage its capacity; TSMC's ability to obtain, preserve and defend its intellectual property rights; natural disasters and other unexpected events which may disrupt production; and exchange rate fluctuations. Additional information as to these and other risk factors that may cause TSMC's actual results to differ materially from TSMC's forward-looking statements may be found in TSMC's Annual Report on Form 20-F, filed with the United States Securities and Exchange Commission (the ''SEC'') on April 20, 2007, and such other documents as TSMC may file with, or submit to, the SEC from time to time. Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

    CONTACT Elizabeth Sun / Harrison Hsueh / Julie Wei Investor Relations Division TSMC Email: invest@tsmc.com Tel: +886-3-568-2085/ 2088/ 2086

    TSMC

    CONTACT: Elizabeth Sun or Harrison Hsueh or Julie Wei, all of TSMC,
    invest@tsmc.com, or +886-3-568-2085, or +886-3-568-2088, or +886-3-568-2086




    Option Reports First Quarter 2007 Results

    LEUVEN, Belgium, April 26 /PRNewswire-FirstCall/ -- Option N.V. (EURONEXT Brussels: OPTI; OTC: OPNVY), the wireless technology company, today announced its results for the first quarter ended March 31, 2007. The financial information reported in this release is presented in Euro and has been prepared in accordance with the recognition and measurement criteria of IFRS as adopted by the European Union (IFRSs). The accounting policies and methods of computation followed in the attached financial statements are the same as those followed in the most recent annual financial statements.

    Highlights of first quarter 2007:

    - Revenues of EUR 69.1 million for the first quarter of fiscal year 2007, an increase of 18.5% compared to the revenues of EUR 58.3 million realized in the first quarter of 2006.

    - Gross margin for the first quarter of 2007 was 33.6% on revenues and amounted to EUR 23.2 million, compared with gross margin of 38.5% or EUR 22.4 million for the first quarter of 2006. The gross profit increased by 3.5%. Excluding expenses related to the ramp-up of the production capacity, the gross margin would have reached 34.3%.

    - The quarterly EBIT increased to EUR 8.3 million or 12.0% on revenues compared with EUR 8.1 million or 14.0% during the corresponding period in 2006, an increase of 2.2%.

    - Net profit for the first quarter of fiscal year 2007 amounted to EUR 8.1 million, or EUR 0.20 per basic share and EUR 0.20 per diluted share. This means an increase of 7.2% compared with a net profit of EUR 7.6 million, or EUR 0.18 per basic share and EUR 0.18 per diluted share in Q1 2006 (1).

    Consolidated Performance For the 3 month period ended 31 March Million EUR (except per share figures) 2007 2006 69.1 58.3 Revenues...................................................................... .............................................................................. .............................................................................. Gross 23.2 22.4 profit........................................................................ Operating (14.9) (14.3) expenses...................................................................... .............................................................................. 8.3 8.1 EBIT.......................................................................... .............................................................................. Net 8.1 7.6 profit........................................................................ .............................................................................. Weighted average number of ordinary shares.......41 249 296 41 249 296 ....................................................... Earnings per share after the stock split (EUR)..... 0.20 0.18 .............................................................................. Non financial highlights of the first quarter included Customer announcements

    - Rogers Wireless offers Canadian mobile users fastest access to the Internet with Option's GT MAX "7.2 Ready" data card

    - Telenet Solutions launches HSDPA Data Card with GlobeTrotter Unlimited Connection from Option

    - Sharp embeds Option's new wireless module, the GTM 478, a compact module with a board-to-board connector making it the ideal module for embedding into small mobile devices such as PDA's and mobile multimedia devices

    - Wataniya Telecom revolutionises residential Internet Service Provisioning with Option's HSDPA GlobeSurfer(R) wireless router

    - Option to Supply Fujitsu Siemens Computers with HSDPA 3.6 Mbps embedded wireless module

    - Option wins eMobile Business in Japan Product and technology announcements - Option ships three millionth 3G device

    - Major network solution providers showcase Option products at CTIA WIRELESS 2007

    - Option implements HSUPA across its product portfolio at 3GSM World Congress including: GlobeTrotter EXPRESS HSUPA, GlobeTrotter GT MAX HSUPA, GTM380 embedded wireless module, GlobeSurfer(R) ICON HSUPA

    - Option announces HSDPA 7.2 products: GlobeTrotter EXPRESS 7.2, GlobeSurfer(R) ICON 7.2 and GlobeSurfer(R) II 7.2

    - Option highlights segmented connectivity software offerings: GlobeTrotter Connect, GlobeTrotter Mobility Manager and GlobeTrotter Unlimited Connection.

    - Option broadband wireless portfolio ready for Windows Vista 32 and Vista 64

    Corporate announcement

    - ABI Research confirms Option's growing global leadership in the cellular modem market

    - Patrick Hofkens strengthens Option's Executive Management Team as Vice President Strategic Alliances & General Counsel

    Commenting on the results, Jan Callewaert, CEO of Option said

    "First quarter revenues of EUR 69.1 million, up 18.5 % on 2006, were in line with our expectations. Our continuing focus on profitable growth saw net profit increase 7.2 % to EUR 8.1 million.

    While revised delivery schedules for the data card orders, delayed from Q4 2006, will eliminate the remaining backlog during the current quarter, growth across all product sectors contributed to a 49% increase in first quarter shipments.

    The first quarter was one of transition as we announced significantly enhanced performance with the availability of 2.0 Mbps HSUPA uploading and 7.2 Mbps HSDPA downloading across our product portfolio.

    We have established a strong position in the new market for ExpressCard form-factor devices: our GlobeTrotter EXPRESS 7.2 is shipping to leading operators around the world.

    Our operator customers are offering USB wireless modems as flexible and easy-to-install alternatives to DSL in many territories: our GlobeSurfer(R) ICON is central to many innovative marketing campaigns.

    We continue to expand our presence in the market for embedded wireless modules: Sharp in Japan and Fujitsu Siemens Computers are Option's latest customers among manufacturers of laptops and wirelessly connected multimedia devices.

    With our continued focus on serving our operator and device manufacturing customers, and the unrivalled breadth and depth of our product portfolio, we remain in a very strong position to capitalise on the growing consumer appeal of wireless broadband connectivity.

    Improving visibility of Q2, combined with the first quarter results reported today and a continued strong order book, add to our confidence in our full year revenue guidance of EUR 355 - 375 million for 2007."

    Financial Information Income Statement Revenues

    Revenues of EUR 69.1 million for the first quarter of fiscal year 2007, an increase of 18.5% compared to the revenues of EUR 58.3 million realized in the first quarter of 2006.

    Gross Profit

    Gross margin in Q1 2007 was 33.6% on revenues and amounted to EUR 23.2 million, compared with gross margin of 38.5% or EUR 22.4 million in Q1 2006. The gross profit increased by 3.5%. Excluding expenses related to the ramp-up of the production capacity, the gross margin would have reached 34.3%.

    Operating expenses

    The quarterly operating expenses, including depreciation and amortization charges, were EUR 14.9 million for the first quarter of 2007, compared to EUR 14.3 million in the first quarter of 2006.

    EBIT

    The quarterly EBIT increased to EUR 8.3 million or 12.0% on revenues compared with EUR 8.1 million or 14.0% during the corresponding period in 2006, an increase of 2.2%.

    Financial Result

    During the first quarter of 2007, Option obtained a positive financial result of EUR 142 thousand. The total exchange rate gains amounted to EUR 142 thousand mainly thanks to USD rates and Option received EUR 236 thousand from risk free investments of the available cash.

    A total of EUR 207 thousand financial discounts were given to customers for cash payments and the other financial costs, mainly related to rental agreements, amounted to EUR 29 thousand.

    Net Profit

    On April 24th, 2006, the company executed a four for one stock split. Applying the transaction retroactively, earnings per share would have been the following:

    Net profit for the first quarter of fiscal year 2007 amounted to EUR 8.1 million, or EUR 0.20 per basic share and EUR 0.20 per diluted share. This means an increase of 7,2% compared with a net profit of EUR 7.6 million, or EUR 0.18 per basic share and EUR 0.18 per diluted share during the first quarter 2006.

    Balance Sheet

    Cash increased from EUR 36.1 million at the end of 2006 to EUR 37.4 million at the end of the first quarter of 2007.

    During the first three months of 2007, inventories decreased from EUR 40.6 million to EUR 36.2 million. This decrease is explained by a reduction of the component stock. The level of finished goods at quarter-end remained low, representing 11.2% of total inventory value.

    Trade and other receivables increased from EUR 54.2 million at the end of 2006 to EUR 61.9 million at the end of the first quarter of 2007. This increase was mainly related to the trade receivables.

    Fixed assets were EUR 45.6 million (net book value) as at March 31st 2007, an increase of EUR 3.5 million compared to the net book value of EUR 42.1 million at the end of the previous fiscal year. During 2007, the total investments in tangible assets, mainly test equipment, amounted to EUR 1.6 million and the Company invested EUR 5.0 million in intangible assets of which 4.5 million for capitalized development projects.

    Total current liabilities decreased from EUR 53.1 million at the end of 2006 to EUR 52.5 million at the end of the first quarter of 2007. This decrease is mainly related to the combination of increased trade and other payables (+EUR 1.7 million) and decreased income tax payable (-EUR 2.4 million).

    The Company generated a deferred tax liability mainly as a result of the capitalization of the commercial development projects under IFRS. In 2007, this deferred tax liability increased with EUR 13 thousand which was nearly fully related to capitalization of development projects.

    On total assets of EUR 184.0 million, the equity amounted to EUR 119.8 million, which results in a solvency ratio of 65.1% at quarter-end compared to 63.2% at year-end 2006.

    Cash flow generated from operating activities during the first three months of 2007 amounted to EUR 7.9 million compared to EUR 6.9 million in the corresponding period of the previous year.

    - OPTION N.V. - Unaudited financial report prepared in accordance with International Financial Reporting Standards (IFRSs) Unaudited consolidated income statement For the 3 month period ended 31 March Thousands EUR (except per share figures) 2007 2006 Revenues........................................69 102 58 318 Cost of products (45 880) (35 875) sold.......................................................................... Gross 23 222 22 443 profit........................................................................ Gross margin/Total revenues 33.6% 38.5% %............................................................... .............................................................................. Research and development (5 123) (4 237) expenses........................................................ .............................................................................. Sales, marketing and royalties (6 021) (7 821) expenses................................................... .............................................................................. General and administrative (3 753) (2 241) expenses........................................................ .............................................................................. Total operating (14 897) (14 299) expenses...................................................................... .............................................................................. Profit from operations 8 325 8 144 (EBIT).............................................................. .............................................................................. EBIT/Total revenues 12.0% 14.0% %.......................................................................... Depreciation and 3 040 2 503 amortization............................................................... EBITDA..........................................11 365 10 647...... .............................................................................. EBITDA/Total revenues 16.4% 18.3% %.................................................................... Exchange 142 527 gain/(loss)................................................................... Interest 0 (101) income/(expense).............................................................. Finance 142 426 result........................................................................ Profit before 8 467 8 570 taxes......................................................................... Tax (325) (974) expense....................................................................... Net 8 142 7 596 profit........................................................................ Weighted average number of ordinary 41 249 296 41 249 296 shares......................................... Diluted average number of ordinary 41 249 296 41 249 296 shares............................................ Earnings per share (in EUR) 0.20 0.18 (2).............................................................. Diluted earnings per share (in 0.20 0.18 EUR)....................................................... - OPTION N.V. - Unaudited consolidated balance sheet Prepared in accordance with International Financial Reporting Standards (IFRSs) Thousands EUR 31 31 March December For the period ended 2007 2006 Assets Current assets Cash and cash 37 394 36 062 equivalents................................................................... Trade and other 61 857 54 201 receivables................................................................... Income tax 150 110 receivable.................................................................... Inventories...........................................36 161 40 572 135 562 130 945 Non-current assets Property, plant and 12 822 12 099 equipment..................................................................... Intangible 32 779 29 998 assets........................................................................ Deferred tax 2 665 3 303 assets........................................................................ 0ther 128 144 receivables................................................................... 48 394 45 544 Total 183 956 176 489 assets........................................................................ Equity and Liabilities Current liabilities Trade and other 50 844 49 137 payables...................................................................... Income tax 1 554 3 914 payable....................................................................... Current portion of long-term 55 74 debt.......................................................................... 52 453 53 125 Non-current liabilities Trade and other payables 11 326 11 326 Non-current portion of long-term 148 148 debt.......................................................................... Deferred tax 269 256 liabilities................................................................... 11 743 11 730 Equity Issued capital.........................................6 116 6 116 Share 43 865 43 865 premium....................................................................... Reserves............................................... .319 335..... Retained 69 460 61 318 earnings...................................................................... Shareholders' 119 760 111 634 equity........................................................................ Total liabilities and shareholders' 183 956 176 489 equity.................................................................. - OPTION N.V. - Unaudited consolidated cash flow statement Prepared in accordance with International Financial Reporting Standards (IFRSs) Thousands EUR 31 31 March March For the period ended 2007 2006 Operating activities Net profit 8 142 7 596 (A)........................................................................... Depreciation and 3 040 2 503 amortization.................................................................. Write-offs on - 145 inventories................................................................... Write-offs on trade 400 - debtors....................................................................... Unrealized foreign exchange 300 (44) losses/(gains)................................................................ Interest (236) - income........................................................................ Interest 28 - expense....................................................................... Tax 325 974 expense....................................................................... Total 3 857 3 578 (B)........................................................................... Cash flow from operating activities before changes in working capital (C)=(A)+(B). 11 999 11 174 Decrease/(increase) in trade and other (8 364) 1 777 receivables................................................................. Decrease/(increase) in 4 411 (3 381) inventories................................................................... Increase/(decrease) in trade and other 1 707 (2 667) payables..................................................................... Total changes in working capital (2 246) (4 271) (D)........................................................................... Cash generated from operations 9 753 6 903 (E)=(C)+(D).................................................................. Interests (paid) (65) - (F)........................................................................... Interests received 230 - (G)........................................................................... Income tax (paid)/received (1 986) 14 (H)........................................................................... Cash flow from operating activities (i)=(e)+(f)+(g)+(h)..7 932 6 917 Investing activities Acquisition of property, plant and (1 615) (345) equipment..................................................................... Acquisition of intangible (444) (838) assets........................................................................ Development (4 514) (2 839) expenditures.................................................................. Cash Flow from Investing Activities (6 573) (4 022) (j)...................................................... Financing activities Repayment of (18) - borrowings.................................................................... Payment of finance lease - (131) liabilities................................................................... Cash flow from financing activities (18) (131) (k).................................................... Net increase in cash and cash equivalents 1 341 2 764 (I)+(J)+(K)................................................... Cash and cash equivalents at beginning of 36 062 49 288 period.................................................................. Effect of exchange rate fluctuations on cash (9) - held................................................................... Cash and cash equivalents at end of 37 394 52 052 period........................................................................ Difference........................................... .1 341 2 764........................ - OPTION N.V. - Unaudited Consolidated Statement of Changes in Equity Thousands EUR Shareholders' equity For the 3 month period ended 31 March 2007 Issued Share Share- Translation Retained Total capital premium based reserves earnings equity payment reserves As per 31 December 2006. 6 116 43 865 360 (25) 61 318 111 634 Net profit................... - - - - 8 142 8 142 Translation reserves..... - - - (16) - (16) As per 31 March 2007..6 116 43 865 360 (41) 69 460 119 760

    This press release contains forward-looking information that involves risks and uncertainties, including statements about the company's plans, objectives, expectations and intentions. Such statements include, without limitation, discussions concerning the company's strategic direction and new product introductions and developments. Readers are cautioned that such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to differ materially than those set forth in the forward looking statements. The risks and uncertainties include, without limitation, the early stage of the market for connectivity and integrated wireless products and solutions for portable and handheld computers and mobile telephones, the management of growth, the ability of the company to develop and successfully market new products, rapid technological change and competition. Some of these risk factors were highlighted in the Consolidated and Statutory Report 2006 of the Board of Directors which can be found in the Annual Report 2006 page 51-52. The forward-looking statements contained herein speak only as of the date of this press release. The company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the company's expectations or any change in events, conditions or circumstance on which any such statement is based.

    About Option (http://www.option.com/) - EURONEXT Brussels OPTI; OTC: OPNVY Option is the wireless technology company and is a leading innovator in the design, development and manufacture of 3G UMTS-HSDPA, EDGE, GPRS, GSM and WLAN technology products for wireless connectivity solutions. Option has built up a solid reputation for creating exciting products that enhance the performance and functionality of wireless communications. Option's headquarters are in Leuven, Belgium. The company has Research & Development in Leuven, a Software and Applications development centre in Adelsried (Germany), a Wireless Router development centre in Stockholm and an ISO 9002 production engineering and logistics facility in Cork, Ireland and sales & support offices in US, Japan, Hong Kong and Taiwan.

    1) On April 24th, 2006, the company executed a four for one stock split. For reporting purpose the transaction was applied retroactively.

    2) On April 24th, 2006, the company executed a four for one stock split. For reporting purpose the transaction was applied retroactively.

    Option N V

    CONTACT: For further information please contact: Jan Callewaert,
    Founder & CEO, Frederic Convent, CFO, Gaston Geenslaan 14, B-3001 Leuven,
    Belgium, TEL: +32-(0)-16-31-74-11, FAX : +32-(0)-16-31-74-90, E-mail:
    investor@option.com




    VASCO Reports Results for First Quarter of 2007Revenues increase 93% over Q1 2006; Operating income increases 137% over Q1 2006. Revenue for the quarter is the best in the Company's history. Financial results for first quarter of 2007 to be discussed on conference call today at 10:00 a.m. E.D.T.

    OAKBROOK TERRACE, Ill., and ZURICH, Switzerland, April 26 /PRNewswire-FirstCall/ -- VASCO Data Security International, Inc. ( http://www.vasco.com/ ), today reported its financial results for the first quarter ended March 31, 2007.

    Revenues for the first quarter of 2007 increased 93% to $26.4 million from $13.7 million in the first quarter of 2006. Net income for the first quarter 2007 increased 324% to $5.0 million, or $0.13 per diluted share, from $1.2 million, or $0.03 per diluted share, in the first quarter of 2006.

    Financial Highlights: -- Gross profit was $17.5 million or 66% of revenue for the first quarter of 2007 and compares to gross profit of $9.5 million or 69% of revenue in the first quarter of 2006. -- Operating expenses for the first quarter of 2007 were $10.7 million, an increase of $4.1 million or 63% from $6.6 million reported for the first quarter 2006. Operating expenses in 2007 and 2006 included $0.4 million and $0.3 million, respectively, related to stock based incentives. -- Operating income for the first quarter was $6.9 million, an increase of $4.0 million or 137% from $2.9 million reported for the first quarter of 2006. Operating income as a percentage of revenue for the first quarter of 2007 was 26% compared to 21% for the first quarter of 2006. -- Earnings before interest, taxes, depreciation and amortization was $7.6 million for the first quarter of 2007, an increase of 231% from $2.3 million reported for the first quarter of 2006. -- Net cash balances, total cash and cash equivalents less bank borrowings, at March 31, 2007 totaled $16.8 million compared to $12.6 million at December 31, 2006. Operational and Other Highlights: -- A total of 619 new accounts sold in the first quarter 2007, including 94 banks and 525 Enterprise Security customers. In the first quarter of 2006, 341 new accounts were sold, including 34 banks and 307 Enterprise Security customers. -- AIB (Ireland) to use VASCO's Alphanumeric Digipass 550 and VACMAN Controller -- KBC (Belgium) offers secure retail e-banking and e-commerce with Digipass 810 -- Discount Bank (Uruguay) secures its private banking customers with Digipass GO3 and VACMAN Controller -- Reliance Money (India) to use Digipass GO3 and VACMAN Controller Huntington Bank (U.S.A.) secures online corporate business with Digipass GO3 and VACMAN Controller -- VASCO establishes European Headquarters in Zurich (Switzerland) -- VASCO launches aXs GUARD authentication appliance and adds SSL-VPN service -- VASCO launches refined Digipass Pack strategy for Small and Medium Enterprises ('SME's) Guidance for full-year 2007:

    VASCO reaffirmed the full-year 2007 guidance provided on February 20, 2007, which included:

    -- Revenue growth of 35% to 45% for the full-year 2007 over full-year 2006, -- Gross margins as a percentage of revenue of 60% to 68% for the full- year 2007, and -- Operating margins as a percentage of revenue of 18% to 25%.

    "The growth in our revenue and profitability continue to demonstrate the effectiveness of our Full-Option, All-Terrain Strategy, which was introduced in the first quarter of 2006," said Ken Hunt, VASCO's CEO, and Chairman. "Throughout 2006, we increased the functionality of our core platform, VACMAN Controller, and acquired companies/technologies that expanded the breadth of our product line. The strength of our product offering is being accepted at record levels by customers looking to strongly authenticate users to its applications."

    "The results of the first quarter in 2007 reflect the continued strong growth of the business in both our banking and the enterprise security markets compared to the first quarter of 2006," said Jan Valcke, VASCO's President and COO. "We are and will continue to invest heavily in our infrastructure to meet the growing market demand, which is evidenced by a strong flow of new opportunities and new orders. As we start the second quarter, we have a backlog of firm orders to be shipped in the second quarter of $28.0 million, which is 75% higher than the $16.0 million backlog we had entering the second quarter of 2006 and 51% higher than the $18.5 million in actual sales reported for Q2 2006."

    Cliff Bown, Executive Vice President and CFO added, "Our balance sheet continues to be strong. Net cash balances, cash and cash equivalents less bank borrowings, were $16.8 million, an increase of $4.2 million or 33% from December 31, 2006. Our working capital was $29.0 million at the end of the first quarter, an increase of $6.9 million, or 31%, from $22.1 million at December 31, 2006. Days Sales Outstanding (DSO) in net accounts receivable increased to 81 days at March 31, 2007 from 72 days at December 31, 2006."

    Conference Call Details

    In conjunction with this announcement, VASCO Data Security International, Inc. will host a conference call today, April 26, 2007, at 10:00 a.m. EDT - 16:00h CET. During the Conference Call, Mr. Ken Hunt, CEO, Mr. Jan Valcke, President and COO, and Mr. Cliff Bown, CFO, will discuss VASCO's Results for the First Quarter of 2007.

    To participate in this Conference Call, please dial one of the following numbers:

    USA/Canada: +1 888-335-5539 International: +1 973-582-2857 And mention access code: VASCO to be connected to the Conference Call.

    The Conference Call is also available in listen-only mode on http://www.vasco.com/ . Please log on 15 minutes before the start of the Conference Call in order to download and install any necessary software. The recorded version of the Conference Call will be available on the VASCO website 24 hours a day.

    VASCO Data Security International, Inc. Consolidated Statements of Operations (Unaudited) (In thousands, except per share data) Three months ended March 31, 2007 2006 Net revenues $26,405 $13,690 Cost of goods sold 8,875 4,239 Gross profit 17,530 9,451 Operating costs: Sales and marketing 6,090 3,977 Research and development 1,923 942 General and administrative 2,387 1,534 Amortization of purchased intangible assets 258 98 Total operating costs 10,658 6,551 Operating income 6,872 2,900 Impairment of investment in Secured Services, Inc. - (789) Interest income 58 60 Other income (expense) (37) (27) Income before income taxes 6,893 2,144 Provision for income taxes 1,930 974 Net income $4,963 $1,170 Basic net income per common share $0.14 $0.03 Diluted net income per common share $0.13 $0.03 Weighted average common shares outstanding: Basic 36,564 36,114 Diluted 38,094 37,712 VASCO Data Security International, Inc. CONSOLIDATED BALANCE SHEETS (In thousands) UNAUDITED March 31, December 31, 2007 2006 ASSETS Current assets: Cash and equivalents $19,959 $14,768 Accounts receivable, net of allowances for doubtful accounts 23,194 19,617 Inventories, net 5,725 4,275 Prepaid expenses 1,483 1,295 Deferred income taxes 488 375 Other current assets 990 990 Total current assets 51,839 41,320 Property and equipment, net 1,621 1,422 Goodwill 12,849 12,685 Intangible assets, net 2,788 3,013 Other assets 3,845 4,206 Total assets $72,942 $62,646 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $7,348 $7,579 Bank borrowings 3,137 2,154 Deferred revenue 2,836 2,081 Accrued wages and payroll taxes 3,166 3,176 Income taxes payable 3,169 1,396 Other accrued expenses 3,196 2,876 Total current liabilities 22,852 19,262 Deferred warranty reserves 261 302 Deferred compensation 475 356 Deferred tax liability 522 520 Stockholders' equity: Common stock 37 37 Additional paid-in capital 62,576 61,251 Accumulated deficit (15,435) (20,398) Accumulated other comprehensive income - cumulative translation adjustment 1,654 1,316 Total stockholders' equity 48,832 42,206 Total liabilities and stockholders' equity $72,942 $62,646 Reconciliation of EBITDA to net income (in thousands): Three Months Ended March 31, 2007 2006 (Unaudited) EBITDA $7,554 $2,280 Interest income 58 61 Provision for income taxes (1,930) (974) Depreciation and amortization (719) (197) Net income $4,963 $1,170

    We use EBITDA as a measure of performance, a simplified tool for use in communicating our performance to investors and analysts and for comparisons to other companies within our industry. As a performance measure, we believe that EBITDA presents a view of our operating results that is most closely related to serving our customers. By excluding interest, taxes, depreciation and amortization we are able to evaluate performance without considering decisions that, in most cases, are not directly related to meeting our customers' requirements and were either made in prior periods (e.g., depreciation and amortization), or deal with the structure or financing of the business (e.g., interest) or reflect the application of regulations that are outside of the control of our management team (e.g., taxes). Similarly, we find that the comparison of our results to those of our competitors is facilitated when we do not need to consider the impact of those items on our competitors' results.

    EBITDA should be considered in addition to, but not as a substitute for, other measures of financial performance reported in accordance with accounting principles generally accepted in the United States. While we believe that EBITDA, as defined above, is useful within the context described above, it is in fact incomplete and not a measure that should be used to evaluate the full performance of the Company or its prospects. Such evaluation needs to consider all of the complexities associated with our business including, but not limited to, how past actions are affecting current results and how they may affect future results, how we have chosen to finance the business and how regulations and the other aforementioned items affect the final amounts that are or will be available to shareholders as a return on their investment. Net income determined in accordance with U.S. GAAP is the most complete measure available today to evaluate all elements of our performance. Similarly, our Consolidated Statement of Cash Flows, as presented in our most recent filings with the Securities and Exchange Commission, provide the full accounting for how we have decided to use resources provided to us from our customers, lenders and shareholders.

    About VASCO:

    VASCO is the number one supplier of strong authentication and e-signature solutions and services. VASCO has established itself as the world's leading software company specialized in Internet Security, with a customer base of over 4,800 companies in more than 100 countries, including close to 750 international financial institutions. VASCO's prime markets are the financial sector, enterprise security, e-commerce and e-government.

    Forward-Looking Statements

    Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "anticipates," "plans," "expects," and similar words, is forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.

    Reference is made to the Company's public filings with the US Securities and Exchange Commission for further information regarding the Company and its operations.

    For more information contact:

    Jochem Binst, +32 2 609 97 40, jbinst@vasco.com

    VASCO Data Security International, Inc.

    CONTACT: Jochem Binst of VASCO, +32 2 609 97 40, jbinst@vasco.com

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




    RiT Technologies Ltd. 2007 First Quarter Results Conference Call

    TEL AVIV, Israel, April 26 /PRNewswire-FirstCall/ --

    TO: Investors, Analysts, Brokers and Portfolio Managers FROM: Simona Green simonag@rit.co.il Phone: +972-3-766-4249 Fax: +972-3-647-4115 DATE: April 26th, 2007

    We would like to invite you to participate in a conference call and a simultaneous webcast to discuss RiT Technologies' first quarter 2007 financial results. The call is scheduled for Thursday, May 3rd, at the times indicated below. We will issue a press release with operating results on that same Thursday morning before the market opens.

    To participate, please call one of the following teleconferencing numbers approximately 5-10 minutes prior to the scheduled start of the call. Callers in the U.S. can participate in the conference by calling a domestic toll-free number.

    1-888-407-2553 (U.S.) +972-3-918-0687 (International) On Thursday, May 3rd at: 10:00 a.m. Eastern Standard Time 9:00 a.m. Central Standard Time 8:00 a.m. Mountain Standard Time 7:00 a.m. Pacific Standard Time 17:00 Israel Time

    To participate in the webcast of the call, please log-in about 5-10 minutes prior to the start of the call as follows: http://www.videonewswire.com/event.asp?id=39404

    For those unable to participate, the teleconference will be archived for replay for 14 days at the same url address, beginning 12 o'clock noon (EST) the day of the call.

    Note: Questions for the conference call may be submitted in advance by email to: simonag@rit.co.il

    RiT Technologies Ltd

    CONTACT: Simona Green, simonag@rit.co.il, Phone: +972-3-766-4249, Fax:
    +972-3-647-4115




    Trend Micro Announces Strong First Quarter Results

    Enterprise business achieves nearly 30-percent growth globally, with US and

    Europe leading revenue growth Trend Micro net sales in yen increase by 12 percent year over year

    TOKYO, April 26 /Xinhua-PRNewswire-FirstCall/ -- Trend Micro, Incorporated , a leader in network antivirus and Internet content security software and services, today announced earnings results for the first quarter 2007, including record net sales for the first quarter 2007.

    Trend Micro posted consolidated net sales of 23.25 billion Yen (or US $194.95 million, 119.27JPY = 1USD), and operating income and net income both performed above expectations. The company posted operating income of 6.63 billion Yen (or US $55.57 million) and net income of 4.35 billion Yen (or US $36.45 million) for the quarter. These figures reflect 12 percent growth in net sales compared to the same period a year ago.

    The Company continued to see strong growth, led by a 20-percent year-over- year revenue increase in North America and 14-percent in Europe, this was followed by Asia Pacific and Japan at 10-percent and 6-percent growth respectively. Much of the company's worldwide growth was buoyed by strong sales in Enterprise solutions, which experienced a 29-percent increase year- over-year.

    Long-term growth was further supported with the introduction of a number of new solutions and services, and ground-breaking, new Total Web Threat Protection technology. Trend Micro launched a new messaging security service for enterprise customers, InterScan Messaging Hosted Service. The Company also launched the beta version of a new consumer web-reputation service called TrendProtect, in March 2007 and announced the acquisition of HijackThis, a popular freeware anti-spyware program now available on TrendSecure that enables technically savvy users to identify and remove unwanted and malicious programs.

    ''We were very pleased with our achievements in the first quarter of 2007, and particularly note the introduction of our Total Web Threat Protection technology which helps advance the preventative security available to customers against pernicious web threats, today and tomorrow,'' said Eva Chen, CEO of Trend Micro. ''We delivered a number of new messaging-protection, small-medium business and mobile device solutions for both businesses and consumers, and the acquisition of HijackThis extends our ability to provide value-add services to end-users everywhere. Our steadfast focus on content security continues to support our potential for growth now and in the future.''

    Based on information currently available to the company, consolidated net sales for the second quarter ending June 30, 2007 is expected to be 22.5 billion Yen (or US $192.31 million, based on an exchange rate of 117JPY = 1USD). Operating income and net income are expected to be 5.3 billion Yen (or US $45.30 million) and 3.0 billion Yen (or US $25.64 million), respectively.

    Growth rate figures are calculated from Japanese Yen results. Some discrepancy may therefore be noted in US Dollar comparisons owing to fluctuations in currency conversion rates.

    First Quarter Business Highlights Corporate -- In March 2007, Trend Micro announced state-of-the-art Web threat protection technology. New in-the-cloud Trend Micro Web Reputation technology is a key new innovation being added to the Trend Micro multi-layered approach for dealing with evolving multi-component Web threats that take advantage of the interactive nature of the Internet. Total Web Threat Protection is a key component within the Trend Micro Secure Content & Threat Management security solutions portfolio. -- Following closely the certification awarded to Trend Micro consumer products in the previous quarter, Trend Micro Client Server Messaging Security 3.6 client was awarded Microsoft Vista logo certification in March 2007. -- New customers in the first quarter included: In the United States and Canada - BJC Healthcare. In Europe -- RDC DATACENTRUM, ICT Center Justice department, and in China -- TCL Group, DongFeng Automobile Co., LTD., China Mobile & Telecom Company FUJIAN Co., Ltd, China NETCOM(Group)Company Limited Beijing Branch and China Mobile Company HEBEI Branch Awards -- At the beginning of March 2007, Channel Reseller News in North America announced the winners of its CRN 2007 Channel Champions. Trend Micro earned a Channel Champs award for Program & Support in the Client Security Software category. -- At the end of March 2007, TechTarget's Information Security Magazine and SearchSecurity.com announced that Trend Micro AntiVirus plus AntiSpyware had been awarded the Information Security Readers Choice Silver Award in the Antimalware category. Patents Trend Micro was awarded the following patents in the first quarter 2007: -- U.S. Patent No. 7,188,369, entitled " System and Method Having an Antivirus Virtual Scanning Processor with Plug-in Functionalities" covers a computer processor emulator that enables virus detection instructions to be safely performed in a virtual environment without exposing virus infection to the host computer. According to a specific example of the patented technology, the virtual processor allows polymorphic viruses and compressed viruses to be safely decrypted and uncompressed, respectively, eliminating the need to determine the actual encryption or compression algorithm. This is particularly advantageous as viruses use encryption and compression schemes that are new and more complex. Product Trend Micro introduced the following products in the first quarter 2007: -- Trend Micro InterScan Messaging Hosted Service, Trend Micro Messaging Security Suite and Trend Micro InterScan Messaging Security Appliance, designed to provide enterprises a choice of solution form factor and to extend the security already available to protect corporate email as messaging threats evolve. -- Trend Micro ScanMail for Exchange -- the latest version of ScanMail for Exchange continues to provide businesses proven protection against a multitude of email-borne threats. The solution now also includes technology to protect against zero-day attacks, image spam, and for improved web-threat security it includes dedicated anti-spyware as well.

    -- Trend Micro Worry-Free Security for small and medium-sized businesses - -

    - updates to Trend Micro Worry-Free security solutions include the addition of spyware and rootkit protection, further enhancing the comprehensive, single-installation security products already available for smaller organizations. -- TrendProtect and HijackThis -- The acquisition of popular freeware anti-spyware tool HijackThis complemented the launch of the beta version of TrendProtect, a new web-reputation service for consumers available at http://www.trendsecure.com/ . -- Trend Micro Mobile Security 3.0 -- The release of the latest version of Trend Micro Mobile Security protects users of the latest Nokia Smartphones against mobile malware while protecting against unwanted intrusions and data leakage through new firewall and intrusion detection technologies. Notice Regarding Forward-looking Statements

    Certain statements that we make in this release are forward-looking statements. These forward-looking statements are based upon management's current assumptions and beliefs in light of the information currently available to it, but involve known and unknown risks and uncertainties. Many important factors could cause our actual results to differ materially from those expressed in our forward-looking statements. These factors include:

    -- Difficulties in addressing new virus and other computer security problems -- Timing of new product introductions and lack of market acceptance for our new products -- The level of continuing demand for, and timing of sales of, our existing products -- Rapid technological change within the antivirus software industry -- Changes in customer needs for antivirus software -- Existing products and new product introductions by our competitors and the pricing of those products -- Declining prices for products and services -- The effect of future acquisitions on our financial condition and results of operations -- The effect of adverse economic trends on our principal markets -- The effect of foreign exchange fluctuations on our results of operations -- An increase in the incidence of product returns -- The potential lack of attractive investment targets and -- Difficulties in successfully executing our investment strategy

    We assume no obligation to update any forward-looking statements. For more details regarding risk factors relating to our future performance, please refer to our filings with the U.S. Securities and Exchange Commission.

    About Trend Micro Incorporated

    Trend Micro Incorporated is a pioneer in secure content and threat management. Founded in 1988, Trend Micro provides individuals and organizations of all sizes with award-winning security software, hardware and services. With headquarters in Tokyo and operations in more than 30 countries, Trend Micro solutions are sold through corporate and value-added resellers and service providers worldwide. For additional information and evaluation copies of Trend Micro products and services, visit our Web site at http://www.trendmicro.com/ .

    Supplementary Information 1. Consolidated Unaudited Results of Operations for First Quarter Ending March 31, 2007 (US GAAP) *Figures for the First quarter of 2007 and 2006 are not audited. Consolidated Results of Operations FY2007 FY2006 Current first Previous first quarter quarter From January 1, From January 1, 2007 2006 To March 31, To March 31, Growth 2007 2006 Rate Millions of yen Millions of yen % Net sales 23,252 20,778 11.9 Cost of sales 4,429 3,679 20.4 Operating expenses 12,195 8,570 42.3 Operating income 6,628 8,529 (22.3) Other income (expenses) 883 348 153.4 Net income before taxes 7,511 8,877 (15.4) Income taxes 3,185 3,710 (14.1) Minority interest in income of consolidated subsidiaries 0 0 (69.5) Equity in earnings of affiliated companies 21 (22) (196.1) Net income 4,347 5,145 (15.5) (2) Segment information Net sales to third parties FY2007 FY2006 Current first quarter Previous first quarter From January 1, 2007 From January 1, 2006 To March 31,2007 To March 31,2006 Millions of yen Millions of yen Japan 8,538 8,028 North America 5,788 4,819 Europe 5,825 5,124 Asia Pacific 2,379 2,166 Latin America 722 641 Total 23,252 20,778 Deferred Revenue FY2007 FY2006 As of March 31,2007 As of March 31,2006 Millions of yen Millions of yen Japan 22,904 18,350 North America 15,960 9,878 Europe 12,849 9,507 Asia Pacific 3,966 2,819 Latin America 1,507 1,324 Total 57,186 41,878 Note: Classification of countries and regions into each segment. North America: U.S.A. Europe: Italy, Germany, France, UK, Ireland Asia Pacific: Taiwan, Korea, Australia, Hong Kong, Malaysia, New Zealand, China, Singapore, Thailand, India Latin America: Brazil, Mexico (3) Basis of consolidation The number of consolidated subsidiaries 19 (19 in overseas) The number of unconsolidated subsidiaries -- (4) Increase (Decrease) of major assets, liabilities and shareholders' equity As of March 31, Increase As of December 31, 2007 (Decrease) 2006 Millions of yen Millions of yen Millions of yen (Assets) Cash and cash equivalents 67,219 (8,978) 76,197 Notes and accounts receivable, trade -less allowance for doubtful accounts and sales returns 20,405 481 19,924 Marketable securities and securities investments 42,273 633 41,640 Goodwill 2,957 (26) 2,983 (Liabilities) Deferred revenue (Total of current and long term) 57,186 4,411 52,775 (Minority interest) Minority interest in consolidated subsidiaries 9 2 7 (Shareholders' equity) Treasury stock (15,651) (1,484) (14,167) 2. Projected consolidated earnings (US GAAP) Projected earnings for the next quarter (April 1, 2007 through June 30, 2007) Net sales Operating income Net income Millions of yen Millions of yen Millions of yen 2nd Qtr 22,500 5,300 3,000 Note: Since the business environment surrounding Trend Micro Group tends to fluctuate in the short run, it is difficult to make the highly reliable projection figures on a yearly basis. We, therefore, decided to announce the earnings on a quarterly basis in the fiscal year ending in December 2007 as well as earnings projection of the succeeding quarter. If we found through our calculation conducted from time to time that the net sales fluctuate from the most recent quarterly projection by more than 10%, or operating income or net income fluctuates by more than 30%, we will announce the revision of the earnings projection. For additional Information Mr. Mahendra Negi Chief Operating Officer / Chief Financial Officer / IR Officer Phone: +81-3-5334-4899 Fax: +81-3-5334-4874 Email: ir@trendmicro.co.jp

    Trend Micro, Incorporated

    CONTACT: Mahendra Negi of Trend Micro, +81-3-5334-4899, or fax,
    +81-3-5334-4874, or ir@trendmicro.co.jp

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




    Trend Micro Announces Intention to Delist its ADRs from NASDAQ and Terminate its SEC Reporting Obligations

    TOKYO, April 26 /Xinhua-PRNewswire-FirstCall/ -- Trend Micro ( NASDAQ: TMIC) , a leader in network antivirus and Internet content security software and services, today announced that, at a meeting of its Board of Directors held on April 26, 2007, it resolved to apply to delist its American Depositary Shares ("ADR") from the NASDAQ Stock Market ("NASDAQ"), terminate its registration of its common stock under Section 12(b) and 12(g) of the U.S. Securities Exchange Act of 1934 (the "Exchange Act") and terminate its reporting obligations under Sections 13(a) and 15(d) of the Exchange Act. As a result of these actions, the Company will terminate its U.S. Securities Exchange Commission (the "SEC") reporting obligations.

    1. Reason for delisting and termination of SEC reporting obligations

    The Company's ADRs have been listed on NASDAQ since July 1999. However, the Company's ADRs have been thinly traded on NASDAQ, and overseas investors have traded the Company's common stock primarily on the Tokyo Stock Exchange. Accordingly, the Company's Board of Directors believes that the overall impact that the delisting and the termination of its SEC reporting obligations may have on shareholders would be limited, but will result in a reduction of fixed costs and enable the company to improve the efficiency of its IR activities. After the delisting, the Company plans to maintain its ADR program in the U.S. and plans to continue to list the Company's common stock on the Tokyo Stock Exchange.

    2. Future Plans (1) Overall Delisting Schedule (as planned) Written notice to be sent to NASDAQ: Thursday, April 26, 2007 Delisting application to be filed with the SEC: Monday, May 21, 2007 Delisting from NASDAQ becomes effective: Thursday, May 31, 2007 (2) ADR Program After delisting from NASDAQ, the Company plans to maintain its ADR program with the Bank of New York, the Depositary Bank for the Company's ADRs. The Company's ADRs are expected to continue to trade on over-the-counter markets. (3) Termination of SEC Reporting Obligations The Company plans to terminate its SEC reporting obligations by filing Form 15F with the SEC on or after June 4, 2007. Upon filing the Form 15F, the Company's obligations to file reports on Form 20-F and Form 6-K with the SEC will immediately be suspended. The Company expects that the termination of its SEC reporting obligations will become effective 90 days after the date of filing the Form 15F with the SEC, or such shorter period as the SEC may determine. About Trend Micro, Inc.

    Trend Micro, Inc. is a leader in network antivirus and Internet content security software and services. The Tokyo-based corporation has business units worldwide. Trend Micro products are sold through corporate and value-added resellers and managed service providers. For additional information and evaluation copies of all Trend Micro products, visit our Web site, http://www.trendmicro.com/ .

    Trend Micro, the t-ball logo, OfficeScan, PC-cillin, and VirusWall are trademarks or registered trademarks of Trend Micro Incorporated. TrendLabs is a service mark of Trend Micro Incorporated. All other company or product names may be trademarks or registered trademarks of their owners.

    For additional Information Mr. Mahendra Negi Chief Operating Officer / Chief Financial Officer / IR Officer Phone: +81-3-5334-4899 Fax: +81-3-5334-4874 Email: ir@trendmicro.co.jp

    Trend Micro, Inc.

    CONTACT: Mahendra Negi of Trend Micro, +81-3-5334-4899, or fax,
    +81-3-5334-4874, or ir@trendmicro.co.jp

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




    InfoVista Reports Q3 FY2007 Financial Results

    PARIS, France and HERNDON, Virginia, April 26 /PRNewswire/ -- InfoVista (Euronext: IFV, ISIN: FR0004031649), the leading service-centric performance management software company, today announced financial results for its third quarter ended March 31, 2007.

    Total revenues amounted to EUR9.6 million, a 7% decline over the same period last year. Net loss for the quarter stood at EUR 1.3 million, compared to break even in the same quarter last year.

    Commenting on InfoVista's performance in the period, Alain Tingaud, Chairman & Chief Executive Officer, noted: "Our poor performance in Q3 stemmed from significant weakness in license revenues in North America, which offset a satisfactory performance in Europe and Asia. During the quarter, we took decisive steps to rectify the situation by strengthening the way in which we market ourselves to service providers and large enterprises. We also took actions to reduce costs, the benefits of which will begin to flow in Q4. I am confident in the commitment of all our employees and I am convinced that we will be updating you on our positive progress in due course."

    Financial Highlights

    Revenues

    - Total revenues in the third quarter declined 7% to EUR9.6 million. License revenues declined by 24% year-on-year to EUR4.6 million, representing 48% of total revenues. Service revenues grew 19% to EUR5.0 million for the third quarter.

    Expenses

    - Gross margin in the third quarter stood at 79.9% of total revenues, compared to 80.4% in the comparable quarter of the previous year. Despite the large drop in license revenues, the decline in overall gross margin remained limited, reflecting solid margins in service activities.

    - Third quarter operating expenses excluding one-off items were flat at EUR8.4 million. Research and development costs rose by nearly EUR0.2 million, while sales and marketing costs declined slightly. General and administrative (G&A) costs remained flat.

    - In the third quarter, InfoVista incurred one-off charges for a total of approximately EUR0.7 million, primarily due to EUR0.5 million in severance and stock-based compensation charges related to the termination of employees, including the former CEO. During the quarter, the Company announced its decision to delist from NASDAQ, resulting in charges of approximately EUR0.2 million. Going forward, the Company expects G&A savings of nearly EUR0.3 million per quarter as a result of these measures.

    - The Company had 231 employees at the end of March 2007, as compared to 219 employees a year ago.

    Earnings

    - In Q3, InfoVista had a net loss of EUR1.3 million, as compared to net income of EUR51 thousand in Q3 of the previous year.

    Balance Sheet as of March 31, 2007

    - Days Sales Outstanding (DSOs) stood at 93 days as compared to 90 days at the end of December 2006.

    - Deferred revenue stood at EUR6.9 million.

    - Total cash and marketable securities stood at EUR36.4 million as compared to EUR33.5 million a quarter ago. The increase in the cash position is primarily due to stock options that have been exercised during the quarter.

    - The Company remains debt free.

    - There were a total of 18,603,486 InfoVista shares outstanding at March 31, 2007.

    Operational Highlights

    Satisfactory performance in Europe and Asia offset by poor results in North America

    - In America, total third quarter revenues declined by 31% year-on-year to EUR3.8 million. InfoVista sales strategy in North America was poorly executed and this was the primary reason for the year-on-year decline. During the quarter, the Company took the necessary steps by refocusing the appropriate resources on InfoVista's core business markets: service providers, MSPs and large enterprises.

    - In the EMEA region, total revenues rose by 6% year-on-year to EUR4.2 million in the quarter. The Company extended its business in South Africa and Italy, and gained traction in Germany.

    - In Asia Pacific, total revenues more than doubled year-on-year to EUR1.6 million in the quarter. InfoVista confirmed its leading position in Australia as it secured a EUR0.7 million win with one of the leading service providers in the region.

    - EMEA, America and Asia-Pacific contributed 44%, 40% and 16%, respectively, to the third quarter's total revenues.

    - Revenues from the direct sales channel totaled EUR5.8 million in the third quarter, accounting for 61% of the total. Indirect revenues, generated through partners such as Dimension Data and ONE-ANS, rose by 34% to EUR3.8 million and contributed 39% of total revenues for the quarter.

    Major Wins in the Third Quarter:

    - InfoVista's service provider revenues stood at EUR5.7 million for the third quarter and represented 60% of total revenues. InfoVista won new service provider accounts such as MTN and Transtel in South Africa and Sirti in Italy. The Company also received numerous repeat orders from existing customers such as Optus and AAPT in Australia and Vodafone Italy.

    - InfoVista's enterprise revenues increased 83% year-on-year to EUR3.9 million in the third quarter, including EUR1.5 million from the multi-million dollar deal signed with Microsoft. During the quarter, InfoVista also secured deals from various financial institutions, including Bank of Japan, JP Morgan and Credit Agricole.

    Expanding InfoVista's Research and Development

    - Recently, InfoVista announced the release of VistaInsight for IP Telephony 3.0, the newest version of its award-winning performance management solution for IP telephony. The Company also announced the release of VistaWatch 2.2, the next version of InfoVista's end-to-end monitoring solution, expanding the suite's range to include Session Initiation Protocol (SIP)-based applications such as integrated instant messaging, IP voice, IP video and web-conferencing.

    - Also this quarter, InfoVista announced VistaInsight(R) for Networks 2.2 Service Provider Edition, an end-to-end performance management solution with enhanced capabilities for cable providers targeting two key markets: triple play consumer and commercial services. The new solution helps Cable Multiple System Operators (MSOs) simultaneously manage competitive broadband, Voice over IP (VoIP) and digital video services to a growing number of residential and commercial customers.

    Frost & Sullivan's 2006 Global Award

    - InfoVista received Frost & Sullivan's 2006 Global Award for Product Differentiation Innovation and was named the market leader in this award category for the network performance management and monitoring market.

    Cancellation of shares

    - Following an authorization from the shareholders meeting held on December 15, 2006, the Board has decided, on April 25, 2007, to cancel 700,000 shares in treasury stock, in order to favor an accretive effect for the shareholders.

    Outlook

    In line with the previously announced guidance, InfoVista's management continues to expect total revenues for the year ending June 30, 2007 to be at EUR40 million with a net loss of EUR1 million. In the fourth quarter, InfoVista expects a breakeven position on total revenues of between EUR10 million to EUR10.5 million.

    Conference call details

    InfoVista will host an investor conference call today, Thursday 26 April 2007 at 8.30 a.m. (EST) / 1.30 p.m. (UK) / 2.30 p.m. (Continental Europe). The call will be available by dialing +33-(0)1-70-99-42-70 in France, +44- (0)20-7138-0824 in the UK, or +1-718-354-1158 in North America. A replay will be available shortly after the end of the call at the following numbers: France: +33-(0)1-71-23-02-48, UK: +44-(0)20-7806-1970, North America: +1-718- 354-1112. The replay passcode is: 8123942#. In order to ensure that a line is available for you, please register by clicking on the following link (InfoVista Q3 2006/2007)

    Please note that InfoVista will be holding a SFAF meeting in Paris on the morning of June 6th 2007. Please save the date and more details will follow in due course. Thank you.

    About InfoVista

    InfoVista is the Service-Centric Performance Management Software Company that assures the optimal delivery of business-critical IT services. Driven by a uniquely adaptive and real-time technology foundation, InfoVista solutions improve business effectiveness, reduce operating risk, lower cost of operations, increase agility and create competitive advantage. Eighty percent of the world's largest service providers as ranked by Fortune(R), as well as leading Global 2000 enterprises, rely on InfoVista to enhance the business value of their technology assets. Representative customers include ABN AMRO, Allstream, Banques Populaires, AXA, Banque de France, Bell Canada, British Telecom, Broadwing Communications, Cable & Wireless, Com Hem, Defense Information Systems Agency (DISA), Deloitte & Touche, Deutsche Telecom, France Telecom, Savvis Corporation, SingTel, Telefonica, and US Cellular. A Software Magazine 500 company, InfoVista stock is traded on the Eurolist by Euronext (FR0004031649). For more information about the company, please visit www.infovista.com.

    Cautionary Remarks Regarding Forward-looking Statements: Except for information regarding historical facts, the matters discussed in this press release are "forward looking statements." These statements reflect management's beliefs and best judgment based on currently available information and expectations. However, the forward-looking statements involve risks and uncertainties which could cause actual results to differ materially from those anticipated by such forward-looking statements. In particular, statements of management's outlook assume that overall market demand for our products will remain approximately at recent levels and that we will maintain our market position despite intense competition; statements of management's outlook also do not take into account fluctuations which may occur in currency exchange rates, particularly as between the euro and the U.S. dollar. In addition, actual results may differ from those presented in the forward-looking statements due to other risks and uncertainties involved in our business, including, without limitation, the rapid evolution of our markets, our ability to attract new customers for our products, our dependence upon spending by the telecommunications industry, the technical success and reliability of our products and our ability to develop and protect new technologies. For more information regarding the factors which may affect our results and operations, see the disclosures in InfoVista's public filings with the French Autorite des Marches Financiers, including the "Risk Factors" section in our Annual Report. Undue reliance should not be placed on any forward-looking statement included in this presentation. InfoVista undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

    InfoVista is a registered trademark of InfoVista, S.A.

    INFOVISTA CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except for share and per share data) For the nine months ended For the three months March 31, ended March 31, 2007 2006 2007 2006 (unaudited) (unaudited) (unaudited) (unaudited) Revenues License EUR 14,816 EUR 16,638 EUR 4,622 EUR 6,101 revenues Service 15,325 12,690 5,019 4,218 revenues Total revenues 30,141 29,328 9,641 10,319 Cost of revenues Cost of 587 548 222 199 licenses Cost of 5,196 5,255 1,717 1,822 services Total cost of 5,783 5,803 1,939 2,021 revenues Gross profit 24,358 23,525 7,702 8,298 Operating expenses Sales and 13,235 13,430 4,457 4,719 marketing expenses Research and 5,971 5,529 2,097 1,839 development expenses General and 5,728 5,104 1,808 1,807 administrative expenses Restructuring 722 - 722 - costs Total operating 25,656 24,063 9,084 8,365 expenses Operating loss (1,298) (538) (1,382) (67) Other income (expense): Financial 785 477 273 209 income Net foreign (259) (52) (189) (43) currency transaction losses (Loss) income before (772) (113) (1,298) 99 income taxes Income tax expense (162) (205) (46) (48) Net (loss) income EUR (934) EUR (318) EUR (1,344) EUR 51 Basic net (loss) EUR (0.05) EUR (0.02) EUR (0.07) EUR 0.00 income per share Diluted net (loss) EUR (0.05) EUR (0.02) EUR (0.07) EUR 0.00 income per share Basic weighted 18,085,785 17,559,998 18,309,145 17,728,965 average shares outstanding Diluted weighted 18,085,785 17,559,998 18,309,145 19,258,867 average shares outstanding

    INFOVISTA CONSOLIDATED BALANCE SHEETS (In thousands) As of March 31, June 30, 2007 2006 (unaudited) ASSETS Cash and cash equivalents EUR 12,218 EUR 12,034 Marketable securities 24,185 26,170 Trade receivables, net 9,939 10,914 Prepaid expenses and other current assets 1,959 2,005 Total current assets 48,301 51,123 Fixed assets, net 2,260 2,109 Intangible assets, net 1,218 1,569 Investment in equity securities 1,340 1,340 Deposits and other assets 745 811 Total long-term assets 5,563 5,829 Total assets EUR 53,864 EUR 56,952 LIABILITIES & STOCKHOLDERS' EQUITY Trade payables EUR 2,341 EUR 2,183 Accrued salaries and commissions 1,560 2,495 Accrued social security and other payroll 1,367 1,469 taxes Deferred revenue 6,867 7,929 Accrued VAT 1,085 1,658 Other current liabilities 487 220 Total current liabilities 13,707 15,954 Other long term liabilities 163 225 Total long-term liabilities 163 225 Stockholders' equity Common stock 11,014 10,545 Capital in excess of par value of stock 91,731 88,784 Accumulated deficit (52,603) (51,669) Accumulated other comprehensive loss (1,523) (1,466) Less common stock in treasury, at cost (8,625) (5,421) Total stockholders' equity 39,994 40,773 Total liabilities and stockholders' EUR 53,864 EUR 56,952 equity

    For Immediate Contact: Karena D'Arcy Release Investor Relations Manager, InfoVista +33-1-64-86-85-65 kdarcy@infovista.com - or - Kirsten Molyneux Gavin Anderson & Company +44-(0)207-554-1400 kmolyneux@gavinanderson.co.uk

    Infovista

    Contact: Karena D'Arcy, Investor Relations Manager, InfoVista, +33-1-64-86-85-65, kdarcy@infovista.com, or Kirsten Molyneux, Gavin Anderson & Company, +44-(0)207-554-1400, kmolyneux@gavinanderson.co.uk




    ILOG Announces 2007 Third Quarter Results

    PARIS and MOUNTAIN VIEW, California, April 26 /PRNewswire/ --

    ILOG(R) (Nasdaq: ILOG; Euronext: ILO, ISIN: FR0004042364) today announced its fiscal third quarter results with revenues of US$40.0 million, compared with revenues of US$37.4 million in the same quarter last year. U.S. GAAP earnings per share (EPS) for the third quarter were US$0.04 (diluted) compared with a diluted EPS of US$0.14 for the third quarter last year.

    "For the first time, ILOG passed the US$40 million mark in quarterly revenues. I am pleased that we have grown our revenues to reach this milestone, although the mix of our license and consulting revenues generated less profit than we had hoped," said ILOG Chairman and CEO, Pierre Haren. "However, since the beginning of April, several significant license deals have already been closed, and we are confident that license revenue growth will improve in the current quarter."

    Revenues in Europe grew 18% year over year at current exchange rates or 7% year over year at constant exchange rates, due to good performance across all key markets, particularly the UK and Germany. Revenues in the U.S. were essentially flat compared to a strong third quarter in the prior year, while Asia-Pacific grew 22% backed by a significant contribution from professional services.

    The visualization component product line grew 23% year over year, fueled by demand for monitoring applications in the manufacturing and telecommunications sectors. Key customers for visualization included Alcatel, where ILOG JViews was selected for a new network management system for W-CDMA networks, and the Mercury Interactive division of Hewlett Packard.

    Driven by service-oriented architecture initiatives, Business Rule Management Systems (BRMS) grew 5% overall for the quarter, mainly in the financial services sector in the U.S., and included a US$1 million deal for a new policy administration system for a major U.S. insurance company. Europe's largest BRMS deal was with a world-leading information services company which will leverage ILOG JRules for an analytics application that can be maintained by data operations analysts.

    ILOG's Optimization business, including supply chain applications as well as tools and engines was down 21% year over year. Optimization revenues came from SAP and a large number of smaller deals, whereas in the same quarter last year a large deal augmented these revenues.

    Business Outlook

    Based on currently available information, ILOG's management maintains its revenue growth target for fiscal year 2007 of more than 17% compared to fiscal year 2006. Due to the evolution of the mix of consulting and license revenues, and the weakening dollar, the Company now expects its US GAAP profit to be unchanged year over year.

    Conference Call

    ILOG management will be hosting a conference call today at 10 a.m. Eastern Time or 4 p.m. European Time to discuss the contents of this release. To listen, please visit http://www.ilog.com/corporate/investor and utilize the WebCast link. To participate, contact Gavin Anderson at +44-20-7554-1400. A replay of the call will be available later.

    About ILOG

    ILOG delivers software and services that empower customers to make better decisions faster and manage change and complexity. Over 2,500 corporations and more than 465 leading software vendors rely on ILOG's market-leading business rule management systems (BRMS), supply chain planning and scheduling applications as well as its optimization and visualization software components, to achieve dramatic returns on investment, create market-defining products and services, and sharpen their competitive edge. ILOG was founded in 1987 and employs more than 800 people worldwide. For more information, please visit http://www.ilog.com.

    Forward-looking Information

    All of the statements included in this release, as well as oral statements that may be made by us or by officers, directors or employees acting on our behalf, that are not statements of historical fact, constitute or are based upon "forward-looking statements" within the meaning of the United States Securities laws that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Among the factors that could cause our actual results to differ materially are those risks identified in "Item 3. Key Information-Risk Factors," "Item 4. Information on the Company" and "Item 5. Operating and Financial Review and Prospects" of the Company's most recent Annual Report on Form 20-F/A filed with the U.S. Securities and Exchange Commission (the "SEC") and its other filings and submissions with the SEC, including, without limitation, quarterly fluctuations in our operating results and the price of our shares or ADSs, factors affecting any one of our three product lines, the need to have sufficient consultants available to staff an unpredictable demand for our consulting services, lost revenue due to consultants with specialized expertise occupied on competing consulting engagements, our investments in vertical products which carry high implementation costs that we discount in order to promote customer purchases, intense competition and consolidation in our industry, the extended length and variability of our sales cycle and concentration of transactions in the final weeks in the quarter, which could result in substantial fluctuations in operating results and may prevent accurate forecasting of financial results, the increasing number of higher risk fixed price consulting engagements, our dependence on certain major independent software vendors, changing market and technological requirements, our ability to provide professional services activities that satisfy customer expectations, the impact of currency fluctuations on our profitability, changes in tax laws or an adverse tax audit, errors in our software products, the loss of key personnel, logistical difficulties, cultural differences, product localization costs, import and tariff restrictions, adverse foreign tax consequences and fluctuations in currencies resulting from our global operations, the impact of intellectual property infringement disputes, our heavy dependence on our proprietary technology, risks related to acquisitions and minority investments, the limitations imposed by French law or our by-laws that may prevent or delay an acquisition by ILOG using its Shares, changes in accounting principles that could affect our operating profits and reported results, and other matters not yet known to us or not currently considered material by us. All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are qualified in their entirety by these cautionary statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Unless required by law, the Company undertakes no obligation to revise these forward-looking statements to reflect new information or events, circumstances, changes in expectations or otherwise that arise after the date hereof.

    ILOG S.A. Consolidated Income Statements (unaudited) (All figures are in US$ unless stated otherwise) Three Months Ended Mar 31 Mar 31 Mar 31 2007 2006 2007 (In thousands, except for per share data) (In euros and IFRS) Revenues: License fees $17,922 $20,252 13,605 Maintenance 10,916 9,270 8,326 Professional services 11,200 7,860 8,519 Total revenues 40,038 37,382 30,450 Cost of revenues: License fees 427 326 326 Maintenance 1,283 1,144 978 Professional services 8,793 6,709 6,691 Total cost of revenues 10,503 8,179 7,995 Gross profit 29,535 29,203 22,455 Operating expenses: Marketing and selling 16,240 14,821 12,350 Research and development 9,269 8,281 6,933 General and administrative 3,207 3,645 2,338 Total operating expenses 28,716 26,747 21,621 Income from operations 819 2,456 834 Net interest income (loss) and other 590 303 434 Income before taxation 1,409 2,759 1,268 Income taxes expense 300 5 224 Net income of fully consolidated subsidiaries 1,109 2,754 1,044 Equity in earnings of affiliates (316) -- (239) Net income $793 $2,754 805 Earnings per share - Basic $0.04 $0.15 0.04 - Diluted $0.04 $0.14 0.04 Share and share equivalents used in per share calculations - Basic 18,173 18,053 18,173 - Diluted 18,774 19,021 18,840 Nine Months Ended Mar 31 Mar 31 Mar 31 2007 2006 2007 (In thousands, except for per share data) (In euros and IFRS) Revenues: License fees $52,985 $50,336 40,760 Maintenance 32,130 28,146 24,868 Professional services 30,045 20,669 23,185 Total revenues 115,160 99,151 88,813 Cost of revenues: License fees 908 777 698 Maintenance 3,896 3,180 3,006 Professional services 23,285 16,755 17,971 Total cost of revenues 28,089 20,712 21,675 Gross profit 87,071 78,439 67,138 Operating expenses: Marketing and selling 46,140 41,705 35,550 Research and development 24,439 20,724 18,795 General and administrative 13,555 11,682 10,272 Total operating expenses 84,134 74,111 64,617 Income from operations 2,937 4,328 2,521 Net interest income (loss) and other 1,726 653 1,286 Income before taxation 4,663 4,981 3,807 Income taxes expense 1,335 184 1,017 Net income of fully consolidated subsidiaries 3,328 4,797 2,790 Equity in earnings of affiliates (396) -- (299) Net income $2,932 $4,797 2,491 Earnings per share - Basic $0.16 $0.27 0.14 - Diluted $0.16 $0.25 0.13 Share and share equivalents used in per share calculations - Basic 18,117 17,972 18,117 - Diluted 18,689 18,928 18,776 ILOG S.A. Condensed Consolidated Balance Sheets (unaudited) Mar 31 June 30 Mar 31 2007 2006 2007 (In thousands) (In euros and IFRS) Assets Current assets: Cash and cash equivalents $62,249 $61,442 53,088 Short-term investments 8,454 7,804 -- Accounts receivable 37,029 29,683 27,803 Other receivables and prepaid expenses 9,666 9,330 7,114 Total current assets 117,398 108,259 88,005 Long-term assets: Tangible and intangible assets - net 7,548 6,902 5,667 Other long-term assets 12,390 3,601 9,460 Total long-term assets 19,938 10,503 15,127 Total assets $137,336 $118,762 103,132 Liabilities and Shareholders' Equity Current liabilities: Accounts payable and other current liabilities $25,828 $24,018 19,152 Current portion of capital lease obligations 255 354 191 Deferred revenue 32,132 24,426 24,130 Total current liabilities 58,215 48,798 43,473 Long-term liabilities: Long-term portion of capital lease obligations 42 210 32 Other long-term liabilities 1,253 942 1,570 Total long-term liabilities 1,295 1,152 1,602 Total liabilities 59,510 49,950 45,075 Shareholders' equity: Paid-in capital 97,437 92,309 49,683 Treasury stock (8,486) (6,890) (6,891) Accumulated deficit and other comprehensive income (11,125) (16,607) 15,265 Total shareholders' equity 77,826 68,812 58,057 Total liabilities and shareholders' equity $137,336 $118,762 103,132 ILOG S.A. Condensed Consolidated Statements of Cash Flow (unaudited) Nine Months Ended Mar 31 Mar 31 Mar 31 2007 2006 2007 (In thousands) (In euros and IFRS) Cash flows from operating activities: Net Income $2,932 $4,797 2,491 Depreciation and amortization 2,070 1,967 1,597 Share-based compensation 1,979 2,126 1,056 Deferred income taxes 1,084 -- 818 Unrealized gain (loss) on derivative instruments (10) (110) (3) Result or depreciation of equity in affiliates 396 -- 299 Change in working capital (1,277) (2,320) (742) Net cash provided by operating activities 7,174 6,460 5,516 Cash flows from investing activities: Acquisition of fixed assets and business (9,583) (2,012) (7,439) Sale (Purchase) of short term investments, net (270) (7,471) -- Net cash used in investing activities (9,853) (9,483) (7,439) Cash flows from financing activities: Repayment of capital lease obligations (289) (387) (221) Cash proceeds from issuance of shares 3,149 3,702 2,432 Purchase of treasury stock (1,596) (5,151) (1,224) Net cash provided by (used for) financing activities $1,264 $(1,836) 987 Impact of exchange rate changes on cash and cash equivalents 2,222 34 (445) Net increase (decrease) in cash, cash equivalents 807 (4,825) (1,381) Cash and cash equivalents, beginning of period 61,442 61,730 54,469 Cash and cash equivalents, end of period $62,249 $56,905 53,088

    Discussion of Income Statement for the Quarter Ended March 31, 2007

    Revenues and Gross Margin

    Revenues in the quarter increased to US$40.0 million from US$37.4 million, or by 7%, compared to the same quarter in the previous year. At constant exchange rates, revenues increased by 2%.

    Revenues by region were as follows: Three Months Ended Change Mar 31 Mar 31 2007 2006 As Reported Constant $ North America $17,714 $18,515 -4% -4% Europe 18,238 15,508 18% 7% Asia Pacific 4,086 3,359 22% 18% Total revenues $40,038 $37,382 7% 2%

    Overall activity in North America declined due to lower revenues from the Optimization product line, partly offset by good activity in BRMS. Revenues in both Visualization and Optimization were good in Europe, but lower for BRMS with less significant deals this quarter as opposed to last year. Combined license and maintenance worldwide revenues for BRMS and Visualization increased by 5% and 23%, respectively, while Optimization decreased 21%.

    Professional services revenues continued to grow significantly, increasing 42% in the quarter compared to the same quarter last year. This increase is stable across quarters and is mainly the result of BRMS implementations and continued support for existing ILOG customers. Related gross margin for the quarter is 21%, slightly down from the average 23% rate observed during the prior six-month period. The impact of this significant increase in professional services revenues is that the overall gross margin decreased to 74% compared to the average of 77% in the first six months of the 2007 fiscal year and the average 79% for fiscal year 2006.

    Operating Expenses

    The 7% increase in operating expenses over the same quarter last year is primarily due to the stronger euro, and to payroll-related costs. The euro averaged 1.31 compared to the dollar during the quarter, as compared to 1.20 in the prior year quarter, affecting more than half of the Company's expenses, which are denominated in euros. As of March 31, 2007, the Company had 782 employees, compared to 729 a year earlier.

    Income Taxes

    The income tax expense amounted to US$0.3 million compared to zero in the same quarter last year as a result of the profitability of the quarter. The income tax expense in the quarter is essentially a deferred tax charge, utilizing part of the US$1.2 million deferred tax benefit accounted for at the end of June 2006. This deferred tax benefit represented part of the net operating losses carried forward in the U.S. and France that the Company is more likely than not going to use in this current fiscal year.

    Discussion of Income Statement for the Nine Months Ended March 31, 2007

    Revenues and Gross Margin

    Revenues in the nine-month period increased to US$115.2 million from US$99.2 million, or by 16%, compared to the same period in the previous year. At constant exchange rates, revenues increased by 12%.

    Revenues by region were as follows: Nine Months Ended Change Mar 31 Mar 31 2007 2006 As Reported Constant $ North America $53,301 $48,972 9% 9% Europe 49,892 41,060 22% 12% Asia Pacific 11,967 9,119 31% 28% Total revenues $115,160 $99,151 16% 12%

    Combined license and maintenance revenues increased by 8% during the nine-month period compared to the same period last year. The BRMS and visualization product lines grew across all regions, with an overall increase of 20% and 12%, respectively, during the period, while the optimization product line decreased slightly. In the nine-month period, the BRMS, optimization and visualization product lines represented 47%, 33% and 20%, respectively, of the combined licenses and maintenance revenues, as compared to 42%, 39% and 19% a year ago.

    Professional services increased by 45%, year over year, reflecting the Company's promotion of services to help customers develop applications with ILOG's BRMS. For the nine-month period, gross margin for professional services increased to 23%, as compared to 19% last year.

    Operating Expenses

    The 14% increase in operating expenses over the prior year is primarily due to additional hiring, salary increases that were applied in the second quarter of last year and also the stronger euro, affecting more than half of the Company's expenses, which are denominated in euros.

    Income Taxes

    The income tax expense amounted to US$1.3 million compared to US$0.2 million, year over year, as a result of the profitability of the nine-month period. The income tax expense in the nine-month period mainly consisted of a deferred tax charge for US$1.1 million, utilizing part of the US$1.2 million deferred tax benefit accounted for at the end of June 2006. This deferred tax benefit represented part of the tax net operating losses carried forward in the US and France that the Company is more likely than not going to use in this current fiscal year.

    Balance Sheet and Cash Flow Discussion

    Including short-term investments, ILOG's cash position totaled US$70.7 million as of March 31, 2007, up from US$69.2 million held on June 30, 2006. The current cash position does not take into consideration the US$15 million in cash that will be used to finance the LogicTools acquisition. The slight improvement in the cash position is attributed to operations generating US$7.2 million as a result of the year-to-date profitability adjusted from significant non-cash items like stock-based compensation, deferred taxes and deferred revenues, with a good collection of accounts receivable. Cash was also increased by the exercise of stock options for US$3.1 million and the US$2.2 million impact of the weak dollar on our euro-denominated cash balances. On the downside, investing activities used US$9.9 million primarily from the purchase of a 33% ownership stake in Prima Solutions, a Paris-based provider of insurance software platforms and a 35% ownership interest in a Chinese partner, FirstTech. ILOG also purchased treasury stock for US$1.6 million.

    As of March 31, 2007, shareholders' equity was US$77.8 million, representing an increase of US$9 million since June 30, 2006, mainly as a result of the Company's profitability on the period and the exercise of stock options and warrants. On March 31, 2007, the Company had 18,965,207 shares issued and outstanding, compared to 18,542,133 at June 30, 2006, due to the exercise of 423,074 stock options and warrants.

    Accounting Principles

    The Company's financial statements in U.S. dollars are prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP). Figures presented in euros have been prepared in accordance with International Financial Reporting Standards ("IFRS"). Following European regulation 1606/2002 dated July 19, 2002, all EU-listed companies are required to apply IFRS in preparing their financial statements for financial years commencing January 1, 2005 and thereafter.

    Constant Exchange Rates

    Where constant exchange rates are referred to in the above discussion, current period results for entities reporting in currencies other than U.S. dollars are converted into U.S. dollars at the prior year's exchange rates, rather than the exchange rates for the current period. This information is provided in order to assess how the underlying business performed before taking into account currency exchange fluctuations.

    Press Release for French Shareholders

    A translation of this press release in the French language is also available.

    NOTE: ILOG is a registered trademark of ILOG. ILOG JViews and ILOG JRules are trademarks of ILOG, and all other trademarks are the property of their respective owners.

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

    ILOG

    investor, Jerome Arnaud of ILOG, +33-6-07-35-80-87, or +1-650-567-8103, or jarnaud@ilog.com; or Bernard Compagnon, Gavin Anderson & Company, +44-20-7554-1400 (London), for ILOG; or media, Susan Peters of ILOG, +1-650-567-8109, or speters@ilog.com




    ILOG Announces 2007 Third Quarter Results

    PARIS and MOUNTAIN VIEW, Calif., April 26 /PRNewswire-FirstCall/ -- ILOG(R) (Nasdaq: ILOG; Euronext: ILO, ISIN: FR0004042364) today announced its fiscal third quarter results with revenues of $40.0 million, compared with revenues of $37.4 million in the same quarter last year. U.S. GAAP earnings per share (EPS) for the third quarter were $0.04 (diluted) compared with a diluted EPS of $0.14 for the third quarter last year.

    "For the first time, ILOG passed the $40 million mark in quarterly revenues. I am pleased that we have grown our revenues to reach this milestone, although the mix of our license and consulting revenues generated less profit than we had hoped," said ILOG Chairman and CEO, Pierre Haren. "However, since the beginning of April, several significant license deals have already been closed, and we are confident that license revenue growth will improve in the current quarter."

    Revenues in Europe grew 18% year over year at current exchange rates or 7% year over year at constant exchange rates, due to good performance across all key markets, particularly the UK and Germany. Revenues in the U.S. were essentially flat compared to a strong third quarter in the prior year, while Asia-Pacific grew 22% backed by a significant contribution from professional services.

    The visualization component product line grew 23% year over year, fueled by demand for monitoring applications in the manufacturing and telecommunications sectors. Key customers for visualization included Alcatel, where ILOG JViews was selected for a new network management system for W-CDMA networks, and the Mercury Interactive division of Hewlett Packard.

    Driven by service-oriented architecture initiatives, Business Rule Management Systems (BRMS) grew 5% overall for the quarter, mainly in the financial services sector in the U.S., and included a $1 million deal for a new policy administration system for a major U.S. insurance company. Europe's largest BRMS deal was with a world-leading information services company which will leverage ILOG JRules for an analytics application that can be maintained by data operations analysts.

    ILOG's Optimization business, including supply chain applications as well as tools and engines was down 21% year over year. Optimization revenues came from SAP and a large number of smaller deals, whereas in the same quarter last year a large deal augmented these revenues.

    Business Outlook

    Based on currently available information, ILOG's management maintains its revenue growth target for fiscal year 2007 of more than 17% compared to fiscal year 2006. Due to the evolution of the mix of consulting and license revenues, and the weakening dollar, the Company now expects its US GAAP profit to be unchanged year over year.

    Conference Call

    ILOG management will be hosting a conference call today at 10 a.m. Eastern Time or 4 p.m. European Time to discuss the contents of this release. To listen, please visit http://www.ilog.com/corporate/investor and utilize the

    WebCast link. To participate, contact Gavin Anderson at +44 20 7554 1400. A replay of the call will be available later.

    About ILOG

    ILOG delivers software and services that empower customers to make better decisions faster and manage change and complexity. Over 2,500 corporations and more than 465 leading software vendors rely on ILOG's market-leading business rule management systems (BRMS), supply chain planning and scheduling applications as well as its optimization and visualization software components, to achieve dramatic returns on investment, create market-defining products and services, and sharpen their competitive edge. ILOG was founded in 1987 and employs more than 800 people worldwide. For more information, please visit http://www.ilog.com/.

    Forward-looking Information

    All of the statements included in this release, as well as oral statements that may be made by us or by officers, directors or employees acting on our behalf, that are not statements of historical fact, constitute or are based upon "forward-looking statements" within the meaning of the United States Securities laws that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Among the factors that could cause our actual results to differ materially are those risks identified in "Item 3. Key Information-Risk Factors," "Item 4. Information on the Company" and "Item 5. Operating and Financial Review and Prospects" of the Company's most recent Annual Report on Form 20-F/A filed with the U.S. Securities and Exchange Commission (the "SEC") and its other filings and submissions with the SEC, including, without limitation, quarterly fluctuations in our operating results and the price of our shares or ADSs, factors affecting any one of our three product lines, the need to have sufficient consultants available to staff an unpredictable demand for our consulting services, lost revenue due to consultants with specialized expertise occupied on competing consulting engagements, our investments in vertical products which carry high implementation costs that we discount in order to promote customer purchases, intense competition and consolidation in our industry, the extended length and variability of our sales cycle and concentration of transactions in the final weeks in the quarter, which could result in substantial fluctuations in operating results and may prevent accurate forecasting of financial results, the increasing number of higher risk fixed price consulting engagements, our dependence on certain major independent software vendors, changing market and technological requirements, our ability to provide professional services activities that satisfy customer expectations, the impact of currency fluctuations on our profitability, changes in tax laws or an adverse tax audit, errors in our software products, the loss of key personnel, logistical difficulties, cultural differences, product localization costs, import and tariff restrictions, adverse foreign tax consequences and fluctuations in currencies resulting from our global operations, the impact of intellectual property infringement disputes, our heavy dependence on our proprietary technology, risks related to acquisitions and minority investments, the limitations imposed by French law or our by-laws that may prevent or delay an acquisition by ILOG using its Shares, changes in accounting principles that could affect our operating profits and reported results, and other matters not yet known to us or not currently considered material by us. All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are qualified in their entirety by these cautionary statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Unless required by law, the Company undertakes no obligation to revise these forward-looking statements to reflect new information or events, circumstances, changes in expectations or otherwise that arise after the date hereof.

    ILOG S.A. Consolidated Income Statements (unaudited) Three Months Ended Mar 31 Mar 31 Mar 31 2007 2006 2007 (In thousands, except for per share data) (In euros and IFRS) Revenues: License fees $17,922 $20,252 13,605 Maintenance 10,916 9,270 8,326 Professional services 11,200 7,860 8,519 Total revenues 40,038 37,382 30,450 Cost of revenues: License fees 427 326 326 Maintenance 1,283 1,144 978 Professional services 8,793 6,709 6,691 Total cost of revenues 10,503 8,179 7,995 Gross profit 29,535 29,203 22,455 Operating expenses: Marketing and selling 16,240 14,821 12,350 Research and development 9,269 8,281 6,933 General and administrative 3,207 3,645 2,338 Total operating expenses 28,716 26,747 21,621 Income from operations 819 2,456 834 Net interest income (loss) and other 590 303 434 Income before taxation 1,409 2,759 1,268 Income taxes expense 300 5 224 Net income of fully consolidated subsidiaries 1,109 2,754 1,044 Equity in earnings of affiliates (316) -- (239) Net income $793 $2,754 805 Earnings per share - Basic $0.04 $0.15 0.04 - Diluted $0.04 $0.14 0.04 Share and share equivalents used in per share calculations - Basic 18,173 18,053 18,173 - Diluted 18,774 19,021 18,840 Nine Months Ended Mar 31 Mar 31 Mar 31 2007 2006 2007 (In thousands, except for per share data) (In euros and IFRS) Revenues: License fees $52,985 $50,336 40,760 Maintenance 32,130 28,146 24,868 Professional services 30,045 20,669 23,185 Total revenues 115,160 99,151 88,813 Cost of revenues: License fees 908 777 698 Maintenance 3,896 3,180 3,006 Professional services 23,285 16,755 17,971 Total cost of revenues 28,089 20,712 21,675 Gross profit 87,071 78,439 67,138 Operating expenses: Marketing and selling 46,140 41,705 35,550 Research and development 24,439 20,724 18,795 General and administrative 13,555 11,682 10,272 Total operating expenses 84,134 74,111 64,617 Income from operations 2,937 4,328 2,521 Net interest income (loss) and other 1,726 653 1,286 Income before taxation 4,663 4,981 3,807 Income taxes expense 1,335 184 1,017 Net income of fully consolidated subsidiaries 3,328 4,797 2,790 Equity in earnings of affiliates (396) -- (299) Net income $2,932 $4,797 2,491 Earnings per share - Basic $0.16 $0.27 0.14 - Diluted $0.16 $0.25 0.13 Share and share equivalents used in per share calculations - Basic 18,117 17,972 18,117 - Diluted 18,689 18,928 18,776 ILOG S.A. Condensed Consolidated Balance Sheets (unaudited) Mar 31 June 30 Mar 31 2007 2006 2007 (In thousands) (In euros and IFRS) Assets Current assets: Cash and cash equivalents $62,249 $61,442 53,088 Short-term investments 8,454 7,804 -- Accounts receivable 37,029 29,683 27,803 Other receivables and prepaid expenses 9,666 9,330 7,114 Total current assets 117,398 108,259 88,005 Long-term assets: Tangible and intangible assets - net 7,548 6,902 5,667 Other long-term assets 12,390 3,601 9,460 Total long-term assets 19,938 10,503 15,127 Total assets $137,336 $118,762 103,132 Liabilities and Shareholders' Equity Current liabilities: Accounts payable and other current liabilities $25,828 $24,018 19,152 Current portion of capital lease obligations 255 354 191 Deferred revenue 32,132 24,426 24,130 Total current liabilities 58,215 48,798 43,473 Long-term liabilities: Long-term portion of capital lease obligations 42 210 32 Other long-term liabilities 1,253 942 1,570 Total long-term liabilities 1,295 1,152 1,602 Total liabilities 59,510 49,950 45,075 Shareholders' equity: Paid-in capital 97,437 92,309 49,683 Treasury stock (8,486) (6,890) (6,891) Accumulated deficit and other comprehensive income (11,125) (16,607) 15,265 Total shareholders' equity 77,826 68,812 58,057 Total liabilities and shareholders' equity $137,336 $118,762 103,132 ILOG S.A. Condensed Consolidated Statements of Cash Flow (unaudited) Nine Months Ended Mar 31 Mar 31 Mar 31 2007 2006 2007 (In thousands) (In euros and IFRS) Cash flows from operating activities: Net Income $2,932 $4,797 2,491 Depreciation and amortization 2,070 1,967 1,597 Share-based compensation 1,979 2,126 1,056 Deferred income taxes 1,084 -- 818 Unrealized gain (loss) on derivative instruments (10) (110) (3) Result or depreciation of equity in affiliates 396 -- 299 Change in working capital (1,277) (2,320) (742) Net cash provided by operating activities 7,174 6,460 5,516 Cash flows from investing activities: Acquisition of fixed assets and business (9,583) (2,012) (7,439) Sale (Purchase) of short term investments, net (270) (7,471) -- Net cash used in investing activities (9,853) (9,483) (7,439) Cash flows from financing activities: Repayment of capital lease obligations (289) (387) (221) Cash proceeds from issuance of shares 3,149 3,702 2,432 Purchase of treasury stock (1,596) (5,151) (1,224) Net cash provided by (used for) financing activities $1,264 $(1,836) 987 Impact of exchange rate changes on cash and cash equivalents 2,222 34 (445) Net increase (decrease) in cash, cash equivalents 807 (4,825) (1,381) Cash and cash equivalents, beginning of period 61,442 61,730 54,469 Cash and cash equivalents, end of period $62,249 $56,905 53,088 Discussion of Income Statement for the Quarter Ended March 31, 2007 Revenues and Gross Margin

    Revenues in the quarter increased to $40.0 million from $37.4 million, or by 7%, compared to the same quarter in the previous year. At constant exchange rates, revenues increased by 2%.

    Revenues by region were as follows: Three Months Ended Change Mar 31 Mar 31 2007 2006 As Reported Constant $ North America $17,714 $18,515 -4% -4% Europe 18,238 15,508 18% 7% Asia Pacific 4,086 3,359 22% 18% Total revenues $40,038 $37,382 7% 2%

    Overall activity in North America declined due to lower revenues from the Optimization product line, partly offset by good activity in BRMS. Revenues in both Visualization and Optimization were good in Europe, but lower for BRMS with less significant deals this quarter as opposed to last year. Combined license and maintenance worldwide revenues for BRMS and Visualization increased by 5% and 23%, respectively, while Optimization decreased 21%.

    Professional services revenues continued to grow significantly, increasing 42% in the quarter compared to the same quarter last year. This increase is stable across quarters and is mainly the result of BRMS implementations and continued support for existing ILOG customers. Related gross margin for the quarter is 21%, slightly down from the average 23% rate observed during the prior six-month period. The impact of this significant increase in professional services revenues is that the overall gross margin decreased to 74% compared to the average of 77% in the first six months of the 2007 fiscal year and the average 79% for fiscal year 2006.

    Operating Expenses

    The 7% increase in operating expenses over the same quarter last year is primarily due to the stronger euro, and to payroll-related costs. The euro averaged 1.31 compared to the dollar during the quarter, as compared to 1.20 in the prior year quarter, affecting more than half of the Company's expenses, which are denominated in euros. As of March 31, 2007, the Company had 782 employees, compared to 729 a year earlier.

    Income Taxes

    The income tax expense amounted to $0.3 million compared to zero in the same quarter last year as a result of the profitability of the quarter. The income tax expense in the quarter is essentially a deferred tax charge, utilizing part of the $1.2 million deferred tax benefit accounted for at the end of June 2006. This deferred tax benefit represented part of the net operating losses carried forward in the U.S. and France that the Company is more likely than not going to use in this current fiscal year.

    Discussion of Income Statement for the Nine Months Ended March 31, 2007 Revenues and Gross Margin

    Revenues in the nine-month period increased to $115.2 million from $99.2 million, or by 16%, compared to the same period in the previous year. At constant exchange rates, revenues increased by 12%.

    Revenues by region were as follows: Nine Months Ended Change Mar 31 Mar 31 2007 2006 As Reported Constant $ North America $53,301 $48,972 9% 9% Europe 49,892 41,060 22% 12% Asia Pacific 11,967 9,119 31% 28% Total revenues $115,160 $99,151 16% 12%

    Combined license and maintenance revenues increased by 8% during the nine-month period compared to the same period last year. The BRMS and visualization product lines grew across all regions, with an overall increase of 20% and 12%, respectively, during the period, while the optimization product line decreased slightly. In the nine-month period, the BRMS, optimization and visualization product lines represented 47%, 33% and 20%, respectively, of the combined licenses and maintenance revenues, as compared to 42%, 39% and 19% a year ago.

    Professional services increased by 45%, year over year, reflecting the Company's promotion of services to help customers develop applications with ILOG's BRMS. For the nine-month period, gross margin for professional services increased to 23%, as compared to 19% last year.

    Operating Expenses

    The 14% increase in operating expenses over the prior year is primarily due to additional hiring, salary increases that were applied in the second quarter of last year and also the stronger euro, affecting more than half of the Company's expenses, which are denominated in euros.

    Income Taxes

    The income tax expense amounted to $1.3 million compared to $0.2 million, year over year, as a result of the profitability of the nine-month period. The income tax expense in the nine-month period mainly consisted of a deferred tax charge for $1.1 million, utilizing part of the $1.2 million deferred tax benefit accounted for at the end of June 2006. This deferred tax benefit represented part of the tax net operating losses carried forward in the US and France that the Company is more likely than not going to use in this current fiscal year.

    Balance Sheet and Cash Flow Discussion

    Including short-term investments, ILOG's cash position totaled $70.7 million as of March 31, 2007, up from $69.2 million held on June 30, 2006. The current cash position does not take into consideration the $15 million in cash that will be used to finance the LogicTools acquisition. The slight improvement in the cash position is attributed to operations generating $7.2 million as a result of the year-to-date profitability adjusted from significant non-cash items like stock-based compensation, deferred taxes and deferred revenues, with a good collection of accounts receivable. Cash was also increased by the exercise of stock options for $3.1 million and the $2.2 million impact of the weak dollar on our euro-denominated cash balances. On the downside, investing activities used $9.9 million primarily from the purchase of a 33% ownership stake in Prima Solutions, a Paris-based provider of insurance software platforms and a 35% ownership interest in a Chinese partner, FirstTech. ILOG also purchased treasury stock for $1.6 million.

    As of March 31, 2007, shareholders' equity was $77.8 million, representing an increase of $9 million since June 30, 2006, mainly as a result of the Company's profitability on the period and the exercise of stock options and warrants. On March 31, 2007, the Company had 18,965,207 shares issued and outstanding, compared to 18,542,133 at June 30, 2006, due to the exercise of 423,074 stock options and warrants.

    Accounting Principles

    The Company's financial statements in U.S. dollars are prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP). Figures presented in euros have been prepared in accordance with International Financial Reporting Standards ("IFRS"). Following European regulation 1606/2002 dated July 19, 2002, all EU-listed companies are required to apply IFRS in preparing their financial statements for financial years commencing January 1, 2005 and thereafter.

    Constant Exchange Rates

    Where constant exchange rates are referred to in the above discussion, current period results for entities reporting in currencies other than U.S. dollars are converted into U.S. dollars at the prior year's exchange rates, rather than the exchange rates for the current period. This information is provided in order to assess how the underlying business performed before taking into account currency exchange fluctuations.

    Press Release for French Shareholders

    A translation of this press release in the French language is also available.

    NOTE: ILOG is a registered trademark of ILOG. ILOG JViews and ILOG JRules are trademarks of ILOG, and all other trademarks are the property of their respective owners.

    ILOG

    CONTACT: investor, Jerome Arnaud of ILOG, +33 6 07 35 80 87, or
    +1-650-567-8103, or jarnaud@ilog.com; or Bernard Compagnon, Gavin Anderson &
    Company, +44 20 7554 1400 (London), for ILOG; or media, Susan Peters of ILOG,
    +1-650-567-8109, or speters@ilog.com

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




    InfoVista Reports Q3 FY2007 Financial Results

    PARIS, France and HERNDON, Virginia, April 26 /PRNewswire-FirstCall/ -- InfoVista (Euronext: IFV, ISIN: FR0004031649), the leading service-centric performance management software company, today announced financial results for its third quarter ended March 31, 2007.

    Total revenues amounted to EUR9.6 million, a 7% decline over the same period last year. Net loss for the quarter stood at EUR 1.3 million, compared to break even in the same quarter last year.

    Commenting on InfoVista's performance in the period, Alain Tingaud, Chairman & Chief Executive Officer, noted: "Our poor performance in Q3 stemmed from significant weakness in license revenues in North America, which offset a satisfactory performance in Europe and Asia. During the quarter, we took decisive steps to rectify the situation by strengthening the way in which we market ourselves to service providers and large enterprises. We also took actions to reduce costs, the benefits of which will begin to flow in Q4. I am confident in the commitment of all our employees and I am convinced that we will be updating you on our positive progress in due course."

    Financial Highlights Revenues

    - Total revenues in the third quarter declined 7% to EUR9.6 million. License revenues declined by 24% year-on-year to EUR4.6 million, representing 48% of total revenues. Service revenues grew 19% to EUR5.0 million for the third quarter.

    Expenses

    - Gross margin in the third quarter stood at 79.9% of total revenues, compared to 80.4% in the comparable quarter of the previous year. Despite the large drop in license revenues, the decline in overall gross margin remained limited, reflecting solid margins in service activities.

    - Third quarter operating expenses excluding one-off items were flat at EUR8.4 million. Research and development costs rose by nearly EUR0.2 million, while sales and marketing costs declined slightly. General and administrative (G&A) costs remained flat.

    - In the third quarter, InfoVista incurred one-off charges for a total of approximately EUR0.7 million, primarily due to EUR0.5 million in severance and stock-based compensation charges related to the termination of employees, including the former CEO. During the quarter, the Company announced its decision to delist from NASDAQ, resulting in charges of approximately EUR0.2 million. Going forward, the Company expects G&A savings of nearly EUR0.3 million per quarter as a result of these measures.

    - The Company had 231 employees at the end of March 2007, as compared to 219 employees a year ago.

    Earnings

    - In Q3, InfoVista had a net loss of EUR1.3 million, as compared to net income of EUR51 thousand in Q3 of the previous year.

    Balance Sheet as of March 31, 2007

    - Days Sales Outstanding (DSOs) stood at 93 days as compared to 90 days at the end of December 2006.

    - Deferred revenue stood at EUR6.9 million.

    - Total cash and marketable securities stood at EUR36.4 million as compared to EUR33.5 million a quarter ago. The increase in the cash position is primarily due to stock options that have been exercised during the quarter.

    - The Company remains debt free.

    - There were a total of 18,603,486 InfoVista shares outstanding at March 31, 2007.

    Operational Highlights

    Satisfactory performance in Europe and Asia offset by poor results in North America

    - In America, total third quarter revenues declined by 31% year-on-year to EUR3.8 million. InfoVista sales strategy in North America was poorly executed and this was the primary reason for the year-on-year decline. During the quarter, the Company took the necessary steps by refocusing the appropriate resources on InfoVista's core business markets: service providers, MSPs and large enterprises.

    - In the EMEA region, total revenues rose by 6% year-on-year to EUR4.2 million in the quarter. The Company extended its business in South Africa and Italy, and gained traction in Germany.

    - In Asia Pacific, total revenues more than doubled year-on-year to EUR1.6 million in the quarter. InfoVista confirmed its leading position in Australia as it secured a EUR0.7 million win with one of the leading service providers in the region.

    - EMEA, America and Asia-Pacific contributed 44%, 40% and 16%, respectively, to the third quarter's total revenues.

    - Revenues from the direct sales channel totaled EUR5.8 million in the third quarter, accounting for 61% of the total. Indirect revenues, generated through partners such as Dimension Data and ONE-ANS, rose by 34% to EUR3.8 million and contributed 39% of total revenues for the quarter.

    Major Wins in the Third Quarter:

    - InfoVista's service provider revenues stood at EUR5.7 million for the third quarter and represented 60% of total revenues. InfoVista won new service provider accounts such as MTN and Transtel in South Africa and Sirti in Italy. The Company also received numerous repeat orders from existing customers such as Optus and AAPT in Australia and Vodafone Italy.

    - InfoVista's enterprise revenues increased 83% year-on-year to EUR3.9 million in the third quarter, including EUR1.5 million from the multi-million dollar deal signed with Microsoft. During the quarter, InfoVista also secured deals from various financial institutions, including Bank of Japan, JP Morgan and Credit Agricole.

    Expanding InfoVista's Research and Development

    - Recently, InfoVista announced the release of VistaInsight for IP Telephony 3.0, the newest version of its award-winning performance management solution for IP telephony. The Company also announced the release of VistaWatch 2.2, the next version of InfoVista's end-to-end monitoring solution, expanding the suite's range to include Session Initiation Protocol (SIP)-based applications such as integrated instant messaging, IP voice, IP video and web-conferencing.

    - Also this quarter, InfoVista announced VistaInsight(R) for Networks 2.2 Service Provider Edition, an end-to-end performance management solution with enhanced capabilities for cable providers targeting two key markets: triple play consumer and commercial services. The new solution helps Cable Multiple System Operators (MSOs) simultaneously manage competitive broadband, Voice over IP (VoIP) and digital video services to a growing number of residential and commercial customers.

    Frost & Sullivan's 2006 Global Award

    - InfoVista received Frost & Sullivan's 2006 Global Award for Product Differentiation Innovation and was named the market leader in this award category for the network performance management and monitoring market.

    Cancellation of shares

    - Following an authorization from the shareholders meeting held on December 15, 2006, the Board has decided, on April 25, 2007, to cancel 700,000 shares in treasury stock, in order to favor an accretive effect for the shareholders.

    Outlook

    In line with the previously announced guidance, InfoVista's management continues to expect total revenues for the year ending June 30, 2007 to be at EUR40 million with a net loss of EUR1 million. In the fourth quarter, InfoVista expects a breakeven position on total revenues of between EUR10 million to EUR10.5 million.

    Conference call details

    InfoVista will host an investor conference call today, Thursday 26 April 2007 at 8.30 a.m. (EST) / 1.30 p.m. (UK) / 2.30 p.m. (Continental Europe). The call will be available by dialing +33-(0)1-70-99-42-70 in France, +44- (0)20-7138-0824 in the UK, or +1-718-354-1158 in North America. A replay will be available shortly after the end of the call at the following numbers: France: +33-(0)1-71-23-02-48, UK: +44-(0)20-7806-1970, North America: +1-718- 354-1112. The replay passcode is: 8123942#. In order to ensure that a line is available for you, please register by clicking on the following link (InfoVista Q3 2006/2007)

    Please note that InfoVista will be holding a SFAF meeting in Paris on the morning of June 6th 2007. Please save the date and more details will follow in due course. Thank you.

    About InfoVista

    InfoVista is the Service-Centric Performance Management Software Company that assures the optimal delivery of business-critical IT services. Driven by a uniquely adaptive and real-time technology foundation, InfoVista solutions improve business effectiveness, reduce operating risk, lower cost of operations, increase agility and create competitive advantage. Eighty percent of the world's largest service providers as ranked by Fortune(R), as well as leading Global 2000 enterprises, rely on InfoVista to enhance the business value of their technology assets. Representative customers include ABN AMRO, Allstream, Banques Populaires, AXA, Banque de France, Bell Canada, British Telecom, Broadwing Communications, Cable & Wireless, Com Hem, Defense Information Systems Agency (DISA), Deloitte & Touche, Deutsche Telecom, France Telecom, Savvis Corporation, SingTel, Telefonica, and US Cellular. A Software Magazine 500 company, InfoVista stock is traded on the Eurolist by Euronext (FR0004031649). For more information about the company, please visit http://www.infovista.com/.

    Cautionary Remarks Regarding Forward-looking Statements: Except for information regarding historical facts, the matters discussed in this press release are "forward looking statements." These statements reflect management's beliefs and best judgment based on currently available information and expectations. However, the forward-looking statements involve risks and uncertainties which could cause actual results to differ materially from those anticipated by such forward-looking statements. In particular, statements of management's outlook assume that overall market demand for our products will remain approximately at recent levels and that we will maintain our market position despite intense competition; statements of management's outlook also do not take into account fluctuations which may occur in currency exchange rates, particularly as between the euro and the U.S. dollar. In addition, actual results may differ from those presented in the forward-looking statements due to other risks and uncertainties involved in our business, including, without limitation, the rapid evolution of our markets, our ability to attract new customers for our products, our dependence upon spending by the telecommunications industry, the technical success and reliability of our products and our ability to develop and protect new technologies. For more information regarding the factors which may affect our results and operations, see the disclosures in InfoVista's public filings with the French Autorite des Marches Financiers, including the "Risk Factors" section in our Annual Report. Undue reliance should not be placed on any forward-looking statement included in this presentation. InfoVista undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

    InfoVista is a registered trademark of InfoVista, S.A. INFOVISTA CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except for share and per share data) For the nine months ended For the three months March 31, ended March 31, 2007 2006 2007 2006 (unaudited) (unaudited) (unaudited) (unaudited) Revenues License EUR 14,816 EUR 16,638 EUR 4,622 EUR 6,101 revenues Service 15,325 12,690 5,019 4,218 revenues Total revenues 30,141 29,328 9,641 10,319 Cost of revenues Cost of 587 548 222 199 licenses Cost of 5,196 5,255 1,717 1,822 services Total cost of 5,783 5,803 1,939 2,021 revenues Gross profit 24,358 23,525 7,702 8,298 Operating expenses Sales and 13,235 13,430 4,457 4,719 marketing expenses Research and 5,971 5,529 2,097 1,839 development expenses General and 5,728 5,104 1,808 1,807 administrative expenses Restructuring 722 - 722 - costs Total operating 25,656 24,063 9,084 8,365 expenses Operating loss (1,298) (538) (1,382) (67) Other income (expense): Financial 785 477 273 209 income Net foreign (259) (52) (189) (43) currency transaction losses (Loss) income before (772) (113) (1,298) 99 income taxes Income tax expense (162) (205) (46) (48) Net (loss) income EUR (934) EUR (318) EUR (1,344) EUR 51 Basic net (loss) EUR (0.05) EUR (0.02) EUR (0.07) EUR 0.00 income per share Diluted net (loss) EUR (0.05) EUR (0.02) EUR (0.07) EUR 0.00 income per share Basic weighted 18,085,785 17,559,998 18,309,145 17,728,965 average shares outstanding Diluted weighted 18,085,785 17,559,998 18,309,145 19,258,867 average shares outstanding INFOVISTA CONSOLIDATED BALANCE SHEETS (In thousands) As of March 31, June 30, 2007 2006 (unaudited) ASSETS Cash and cash equivalents EUR 12,218 EUR 12,034 Marketable securities 24,185 26,170 Trade receivables, net 9,939 10,914 Prepaid expenses and other current assets 1,959 2,005 Total current assets 48,301 51,123 Fixed assets, net 2,260 2,109 Intangible assets, net 1,218 1,569 Investment in equity securities 1,340 1,340 Deposits and other assets 745 811 Total long-term assets 5,563 5,829 Total assets EUR 53,864 EUR 56,952 LIABILITIES & STOCKHOLDERS' EQUITY Trade payables EUR 2,341 EUR 2,183 Accrued salaries and commissions 1,560 2,495 Accrued social security and other payroll 1,367 1,469 taxes Deferred revenue 6,867 7,929 Accrued VAT 1,085 1,658 Other current liabilities 487 220 Total current liabilities 13,707 15,954 Other long term liabilities 163 225 Total long-term liabilities 163 225 Stockholders' equity Common stock 11,014 10,545 Capital in excess of par value of stock 91,731 88,784 Accumulated deficit (52,603) (51,669) Accumulated other comprehensive loss (1,523) (1,466) Less common stock in treasury, at cost (8,625) (5,421) Total stockholders' equity 39,994 40,773 Total liabilities and stockholders' EUR 53,864 EUR 56,952 equity For Immediate Contact: Karena D'Arcy Release Investor Relations Manager, InfoVista +33-1-64-86-85-65 kdarcy@infovista.com - or - Kirsten Molyneux Gavin Anderson & Company +44-(0)207-554-1400 kmolyneux@gavinanderson.co.uk

    Infovista

    CONTACT: Contact: Karena D'Arcy, Investor Relations Manager, InfoVista,
    +33-1-64-86-85-65, kdarcy@infovista.com, or Kirsten Molyneux, Gavin Anderson
    & Company, +44-(0)207-554-1400, kmolyneux@gavinanderson.co.uk




    InfoVista annonce ses résultats financiers pour le troisième trimestre 2007

    PARIS et HERNDON, Virginie, April 26 /PRNewswire/ -- InfoVista (Euronext : IFV, ISIN : FR0004031649), éditeur et leader mondial de solutions de gestion des performances orientées service, a présenté aujourd'hui ses résultats financiers pour son troisième trimestre clos le 31 mars 2007.

    Le chiffre d'affaires total du trimestre s'élève à 9,6 millions d'euros, soit une baisse de 7 % par rapport à la même période de l'exercice précédent. La perte nette pour le trimestre s'élève à 1,3 million d'euros (USGAAP), comparé à un résultat à l'équilibre au cours du même trimestre de l'exercice précédent.

    Commentant les performances d'InfoVista sur la période, Alain Tingaud, Président et Directeur Général, a indiqué : << Nos faibles performances au cours du troisième trimestre proviennent d'une baisse sensible des ventes de licences en Amérique du Nord, compensée par des ventes satisfaisantes en Europe et en Asie. Au cours du trimestre, nous avons pris des mesures décisives pour remédier à cette situation, en renforçant la façon dont nous adressons le marché des fournisseurs de services et des grandes entreprises. Nous avons également pris des mesures destinées à réduire les coûts, mesures dont les bénéfices commenceront à être visibles à partir du quatrième trimestre. J'ai confiance en l'engagement de l'ensemble de nos collaborateurs et je suis convaincu que nous serons en mesure d'annoncer rapidement une évolution positive >>.

    Chiffres Clés (US GAAP)

    Chiffre d'affaires

    - Le chiffre d'affaires total a diminué de 7 % au troisième trimestre pour atteindre 9,6 millions d'euros. Les ventes de licences ont reculé de 24 % par rapport au troisième trimestre de l'exercice précédent pour atteindre 4,6 millions d'euros, soit 48 % du chiffre d'affaires total. Le chiffre d'affaires des prestations de services affiche une progression de 19 % à 5,0 millions d'euros au cours du troisième trimestre.

    Charges :

    - La marge brute du troisième trimestre s'élève à 79,9 % du chiffre d'affaires total, contre 80,4 % au cours du même trimestre de l'exercice précédent. Malgré un recul très sensible des ventes de licences, la baisse de la marge brute globale a été limitée, et ce, en raison des marges importantes existant au niveau des prestations de services.

    - Les charges opérationnelles du troisième trimestre hors éléments exceptionnels sont pratiquement identiques aux charges opérationnelles enregistrées au cours du même trimestre de l'exercice précédent, s'élevant à 8,4 millions d'euros. Les coûts de recherche et de développement ont progressé de près de 0,2 million d'euros, tandis que les frais commerciaux et de marketing affichent un léger recul. Les frais généraux et administratifs sont pour leur part restés inchangés.

    - Au troisième trimestre, les charges exceptionnelles totales d'InfoVista s'élèvent à environ 0,7 million d'euros. Ces charges sont principalement dues à 0,5 million d'euros liés aux départs de collaborateurs dont l'ancien Directeur Général et aux charges liées aux paiements en actions relatives à ces mêmes départs. Au cours de ce trimestre, InfoVista a annoncé sa décision de mettre fin à sa cotation au NASDAQ, ce qui a engendré des charges d'environ 0,2 million d'euros. InfoVista prévoit que ces mesures lui permettront à l'avenir d'économiser près de 0,3 million d'euros par trimestre en frais généraux et administratifs.

    - InfoVista comptait 231 salariés à fin mars 2007 contre 219 à fin mars 2006.

    Résultat net (US GAAP)

    - InfoVista a enregistré une perte nette de 1,3 million d'euros au troisième trimestre, contre un résultat net de 51 milliers d'euros au troisième trimestre de l'exercice précédent.

    Bilan au 31 mars 2007

    - L'encours clients représente 93 jours de chiffres d'affaires, contre 90 jours à fin décembre 2006.

    - Les produits constatés d'avance se sont élevés à 6,9 millions d'euros.

    - La trésorerie, les équivalents de trésorerie et les placements financiers du Groupe représentent un total de 36,4 millions d'euros, contre 33,5 millions le trimestre dernier. L'augmentation de la trésorerie est principalement due à l'exercice d'options de souscription et d'options d'achat d'actions au cours du trimestre.

    - InfoVista ne comporte aucune dette financière.

    - Au 31 mars 2007, 18 603 486 actions InfoVista étaient en circulation (après déduction de l'autocontrôle).

    Activités

    Une performance satisfaisante en Europe et Asie diminuée par des résultats décevants en Amérique du Nord

    - Le chiffre d'affaires de la région Amérique du Nord affiche un recul de 31 % par rapport au troisième trimestre de l'exercice précédent atteignant 3,8 millions d'euros. La stratégie de ventes d'InfoVista a été mal appliquée, raison principale du déclin observé par rapport à l'année passée. . Au cours de ce trimestre, la Société a adopté les mesures nécessaires pour se recentrer sur son coeur de métier : les fournisseurs de services, fournisseurs d'infrastructures infogérées et grands comptes.

    - Le chiffre d'affaires total de la zone EMEA s'élève à 4,2 millions d'euros soit une progression de 6 % par rapport au troisième trimestre de l'exercice précédent. La Société a accru son activité sur l'Afrique du Sud et l'Italie et a connu un regain d'activité sur l'Allemagne.

    - Le chiffre d'affaires total de la région Asie-Pacifique a plus que doublé par rapport au même trimestre de l'exercice précédent, pour atteindre au cours du trimestre 1,6 million d'euros. InfoVista a confirmé sa position de leader en Australie par la conclusion d'un contrat de 0,7 million d'euros auprès de l'un des principaux prestataires de services de la région.

    - La zone EMEA, ainsi que les régions Amérique et Asie-Pacifique ont représenté respectivement 44 %, 40 % et 16 % du chiffre d'affaires total du troisième trimestre.

    - Le chiffre d'affaires des canaux de distribution directs a atteint 5,8 millions d'euros au troisième trimestre, soit 61 % du chiffre d'affaires total. Le chiffre d'affaires des canaux de distribution indirects par l'intermédiaire de partenaires tels que Dimension Data et ONE-ANS a connu une progression de 34 % à 3,8 millions d'euros, soit 39 % du chiffre d'affaires total du trimestre.

    Principales commandes sur le troisième trimestre :

    - Le chiffre d'affaires sur le segment des opérateurs de télécommunications s'est élevé à 5,7 millions d'euros pour le troisième trimestre, soit 60 % du chiffre d'affaires total. InfoVista a conclu de nouveaux contrats avec des opérateurs de télécommunication tels que MTN et Transtel en Afrique du Sud et Sirti en Italie. La Société a également reçu de nombreux renouvellements de commandes de la part de clients existants tels qu'Optus et AAPT en Australie et Vodafone en Italie.

    - Le chiffre d'affaires sur le segment des entreprises a augmenté de 83 % à 3,9 millions d'euros, par rapport au troisième trimestre de l'exercice précédent y compris 1,5 million d'euros provenant du contrat de plusieurs millions conclu avec Microsoft. . Au cours du trimestre, InfoVista a également conclu des contrats avec plusieurs établissements financiers, dont Bank of Japan, JP Morgan et le Crédit Agricole.

    Renforcement des capacités de recherche et de développement

    - InfoVista a récemment annoncé la sortie de VistaInsight for IP Telephony 3.0, la dernière version de sa solution primée de gestion des performances pour téléphonie sur IP. La Société a également annoncé la sortie de VistaWatch 2.2, la prochaine version de sa solution de monitoring de bout en bout, développant ainsi sa gamme de solutions logicielles afin d'inclure des applications SIP (Session Initiation Protocol) telles que messageries instantanées intégrées, voix sur IP, vidéo sur IP et web-conférences.

    - Au cours du trimestre, InfoVista a également annoncé la sortie de VistaInsight(R) for Networks 2.2 Service Provider Edition, une solution de gestion des performances de bout en bout pour les câblo-opérateurs visant deux marchés clés : le Triple Play résidentiel et les services aux entreprises. Cette nouvelle solution aidera les câblo-opérateurs de systèmes multiples à fournir de manière simultanée et compétitive des services Internet à haut débit, des services de voix sur IP (VoIP) et de vidéo numérique sur les marchés dynamiques du grand public et des entreprises.

    Global Award 2006 de Frost & Sullivan

    - InfoVista a reçu le prix 2006 << Global Award for Product Differentiation Innovation >> de Frost & Sullivan et a été nommée leader dans cette catégorie du marché de la gestion et du monitoring des performances réseau.

    Annulation d'actions

    - Faisant suite à l'autorisation accordée par l'assemblée générale mixte de la Société en date du 15 décembre 2006, le Conseil d'administration a décidé le 25 avril 2007, d'annuler 700 000 actions d'auto-contrôle, dans le but de favoriser un effet relutif pour les actionnaires.

    Perspectives (US GAAP)

    Conformément aux prévisions précédemment annoncées, la direction d'InfoVista prévoit toujours, pour l'exercice se terminant le 30 juin 2007, un chiffre d'affaires total de 40 millions d'euros et une perte nette d'un million d'euros. Au cours du quatrième trimestre, InfoVista prévoit d'atteindre le point mort sur un chiffre d'affaires total de 10 à 10,5 millions d'euros.

    Organisation de la conférence téléphonique

    Une conférence téléphonique destinée aux investisseurs d'InfoVista se tiendra aujourd'hui, jeudi 26 avril 2007 à 8 h 30, heure de la côte Est des Etats-Unis / 13 h 30 à Londres / 14 h 30, heure d'Europe Continentale. Pour participer à cette conférence, composez le +33-(0)1-70-99-42-70 en France, le +44-(0)20-7138-0824 au Royaume-Uni ou le +1-718-354-1158 en Amérique du Nord. Vous pourrez réécouter cette conférence peu après sa conclusion en composant l'un des numéros suivants : France : +33-(0)1-71-23-02-48, Royaume-Uni : +44-(0)20-7806-1970, Amérique du Nord : +1-718-354-1112. Code de réécoute : 8123942#. Pour obtenir l'accès à l'une des lignes, veuillez vous enregistrer en cliquant sur le lien suivant : InfoVista Q3 2006/2007

    Veuillez noter qu'InfoVista tiendra une réunion avec les membres de la SFAF mercredi matin 6 juin 2007 à Paris. Veuillez retenir cette date dans l'attente de la réception opportune de détails supplémentaires. Merci.

    A propos d'InfoVista

    InfoVista est une société d'édition de logiciels permettant d'optimiser les prestations de services informatiques et de télécommunications essentielles au fonctionnement des entreprises. Basées sur une plateforme technologique exclusive et évolutive, les solutions d'InfoVista permettent à ses clients d'améliorer leur productivité, de réduire leurs risques d'exploitation et leurs coûts opérationnels, d'augmenter leur réactivité et d'accroître leur compétitivité. Quatre-vingt pour cent des grands fournisseurs de services mondiaux classés par Fortune(R), et les principales entreprises Global 2000, ont sélectionné InfoVista pour optimiser la productivité de leurs infrastructures technologiques. ABN AMRO, Allstream, Banques Populaires, AXA, Banque de France, Bell Canada, British Telecom, Broadwing Communications, Cable & Wireless, Com Hem, Defense Information Systems Agency (DISA), Deloitte & Touche, Deutsche Telecom, France Telecom, Savvis Corporation, SingTel, Telefonica, et US Cellular font partie des clients d'InfoVista. La société figure au palmarès Software Magazine 500 publié par ce magazine de référence pour les éditeurs de logiciel. L'action InfoVista est cotée sur Eurolist by Euronext (FR0004031649). Pour de plus amples informations, veuillez consulter le site www.infovista.com.

    Avertissement lié aux déclarations prévisionnelles : À l'exception des données historiques, les sujets abordés dans ce communiqué de presse constituent des déclarations prévisionnelles. Ces déclarations reflètent les attentes et le meilleur jugement de la direction d'InfoVista sur la base des informations. Cependant, les déclarations prévisionnelles sont porteuses de risques et d'incertitudes pouvant se traduire par des résultats réels très différents de ceux indiqués. En particulier, les prévisions des résultats futurs prennent comme hypothèse une stabilité dans la demande commerciale de nos produits et le maintien de notre part de marché malgré un contexte très concurrentiel ; elles ne prennent pas en compte d'éventuelles fluctuations dans les taux d'échange, notamment entre l'euro et le dollar. Les résultats réels sont soumis à d'autres risques et incertitudes, y compris, à titre non limitatif, l'évolution rapide de nos marchés, notre capacité à attirer de nouveaux clients, notre dépendance vis-à-vis des dépenses et investissements effectués par l'industrie des télécommunications, le succès et la fiabilité techniques de nos produits et notre capacité à développer et à protéger de nouvelles technologies. Veuillez consulter la section << Facteurs de risque >> et les autres informations contenues dans les documents déposés par InfoVista auprès de l'Autorité des Marchés Financiers, afin d'obtenir une description des autres facteurs susceptibles d'affecter nos résultats. Nous recommandons de ne pas accorder un crédit trop important aux déclarations prévisionnelles. InfoVista n'assume aucune obligation de publication de mises à jour des déclarations prévisionnelles, que ce soit au titre de nouvelles informations, de la survenance d'événements futurs ou pour quelque raison que ce soit.

    InfoVista(R) est une marque enregistrée de la société InfoVista, S.A. Pour diffusion immédiate

    INFOVISTA COMPTE DE RESULTAT CONSOLIDE (montants en milliers, sauf nombre d'actions et données par action) Le tableau ci-dessous présente le compte de résultat consolidé du Groupe établi selon les normes IFRS. Neuf mois clos le 31 Trimestre clos le 31 mars mars 2007 2006 2007 2006 (non (non audité) (non audité) (non audité) audité) Chiffre d'affaires Licences EUR 14 816 EUR 16 638 EUR 4 622 EUR 6101 Prestations de 15 325 12 690 5 019 4 218 services Total 30 141 29 328 9 641 10 319 Coût des ventes Licences 587 548 222 199 Prestations de 5 186 5 259 1 714 1 825 services Total 5 773 5 807 1 936 2 024 Marge brute 24 368 23 521 7 705 8 295 Charges opérationnelles Frais marketing et 13 212 13 431 4 449 4 716 commerciaux Frais de recherche 5 961 5 525 2 094 1 839 et de développement Frais généraux et 5 720 5 059 1 805 1 775 administratifs Coûts de 722 - 722 - restructuration Total 25 615 24 015 9 070 8 330 Résultat ( 1 247) ( 494) ( 1 365) ( 35) opérationnel Produits financiers 798 484 274 212 Charges financières ( 13) ( 5) ( 1) ( 1) Pertes nettes de ( 259) ( 52) ( 189) ( 43) change Résultat financier 526 427 84 168 Résultat net avant ( 721) ( 67) ( 1 281) 133 impôts Charge d'impôt ( 162) ( 205) ( 46) ( 48) Résultat net EUR ( 883) EUR ( 272) EUR (1 327) EUR 85 Résultat net par EUR (0.05) EUR (0.02) EUR (0.07) EUR 0.00 action, de base Résultat net par EUR (0.05) EUR (0.02) EUR (0.07) EUR 0.00 action, dilué Nombre moyen 18 085 785 17 559 998 18 309 145 17 728 965 pondéré d'actions ordinaires en circulation Nombre moyen 18 085 785 17 559 998 18 309 145 19 258 867 pondéré dilué d'actions ordinaires en circulation INFOVISTA BILAN CONSOLIDE (montants en milliers) Le tableau ci-dessous présente le bilan consolidé du Groupe établi selon les normes IFRS. Au Au 31 March 2007 30 June 2006 (non audité) ACTIF Immobilisations incorporelles nettes EUR 1 365 EUR 1 610 Immobilisations corporelles nettes 1 975 1 871 Dépôts et cautionnements 745 811 Investissements financiers 1 340 1 340 Total de l'actif non courant 5 425 5 632 Clients et comptes rattachés 9 939 10 914 Autres actifs courants 1 959 2 005 Placements financiers 24 185 26 170 Trésorerie et équivalents de trésorerie 12 218 12 034 Total de l'actif courant 48 301 51 123 TOTAL DE L'ACTIF EUR 53 726 EUR 56 755 PASSIF Capital émis EUR 11 014 EUR 10 545 Primes liées au capital 87 584 84 629 Actions propres ( 8 625) ( 5 421) Réserves de conversion ( 1 523) ( 1 466) Réserves consolidées ( 48 594) ( 47 711) Capitaux propres 39 856 40 576 Passifs non courants 163 225 Fournisseurs et comptes rattachés 2 341 2 183 Salaires et commissions à payer 1 560 2 495 Dettes envers les organismes sociaux 1 367 1 469 Dettes fiscales de TVA 1 085 1 658 Produits constatés d'avance 6 867 7 929 Autres passifs courants 487 220 Total des passifs courants 13 707 15 954 TOTAL DU PASSIF EUR 53 726 EUR 56 755

    InfoVista

    Contact : Karena D'Arcy, Responsable des relations investisseurs, InfoVista, +33-1-64-86-85-65, kdarcy@infovista.comou Kirsten Molyneux, Gavin Anderson & Company, +44-(0)207-554-1400, kmolyneux@gavinanderson.co.uk




    Ready, Set, Evaluate! Windows Server 'Longhorn' Reaches Beta 3First public release of beta code signals next wave of innovation at Microsoft.

    REDMOND, Wash., April 25 /PRNewswire-FirstCall/ -- Microsoft Corp. today unveiled the first publicly available test version of the next edition of Windows Server(R), code-named "Longhorn." The release allows people to evaluate the increased control, flexibility and protection built into Microsoft(R) Windows Server "Longhorn" Beta 3, available for download today at http://www.microsoft.com/getbeta3. The final version of Windows Server "Longhorn" is on track for release to manufacturing in the second half of 2007.

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

    "As they take it for a test drive, our customers and partners will find we made some vast improvements in Windows Server 'Longhorn' to help them reduce costs and adapt to changing business needs," said Bill Laing, general manager of the Windows Server Division at Microsoft. "Between early adopter customers and Microsoft IT, we have hundreds of servers running in production environments today. If there's one message we want to send today, it is get ready, download and evaluate."

    IT professionals face increasing pressure from rapidly changing technology, security concerns, increasing costs and expanding business needs. Windows Server "Longhorn" builds on the improved reliability and security of Windows Server 2003 R2 to help alleviate these pressures by addressing the automation of daily management tasks, tightening security, improving efficiency and increasing availability.

    According to Microsoft internal research, approximately 70 percent of an IT budget is devoted to daily management tasks, indicating a high demand for services such as help desk, infrastructure health monitoring, and systems and update management. Windows Server "Longhorn" helps simplify administration tasks via improved event logging, task scheduling, enhanced remote management and the powerful scripting capabilities of Windows PowerShell(TM).

    In addition, innovative security technologies help prevent future attacks by helping reduce the server footprint and potential attack surface with the new Server Core installation option, and by providing ongoing health monitoring and compliance through new features such as Microsoft Network Access Protection (NAP), Read-Only Domain Controllers and the Windows(R) Firewall with Advanced Security. The newest version of Microsoft's Web server, Internet Information Services (IIS) 7.0, also provides a more secure, extensible platform for efficiently managing and reliably hosting Web applications and services. Microsoft is today announcing the availability of the IIS7 Go Live license, which will allow customers to host Web applications and .NET 3.0 Web services on Windows Server "Longhorn" Beta 3 in live production environments.

    Efficient and ready access to business data from virtually anywhere is necessary to keep businesses productive and connected. New remote access features such as Terminal Services Gateway, Terminal Services Easy Print and Terminal Services RemoteApp provide end users with dramatically improved

    experiences and more scalable remote access to centralized applications and server resources.

    To help IT professionals improve the availability, reliability and performance of their infrastructure, Windows Server "Longhorn" includes simplified failover clustering, dynamic partitioning and auto-tuning networking features to automatically manage system resources and help ensure that customers have uninterrupted and optimized access to their company network.

    Today in Beta 3, customers will see new features and enhancements that include stronger security, better performance, new server roles and features, and additional server management and remote administration tools.

    "We are very excited about Beta 3. We love the new features in Active Directory(R) and the improvements to Terminal Server," said Juergen Otter, senior Active Directory architect at Siemens AG.

    New and improved features in Beta 3 include the following: -- Windows PowerShell is now included in the product. -- Active Directory Federation Services improvements allow customers to implement new policies and make it easier to set up a relationship between trusted partners. -- The Server Core installation option now comes with additional roles and enhanced functionality, such as print services and Active Directory Lightweight Directory Services. -- The Server Manager console includes additional remote administration tools to provide a more integrated management environment. -- Windows Firewall with Advanced Security, now on by default, provides a persistent and more secure environment beginning at installation. -- NAP is integrated with Microsoft Update and Windows Update to enable administrators to decide which updates are critical and set policies accordingly. It also has a new administrative interface for simplified setup, scalability and better performance.

    Advanced Micro Devices Inc. (AMD) and Intel Corporation are among the worldwide partners welcoming the Windows Server "Longhorn" Beta 3 release.

    "AMD applauds the beta 3 release of Windows Server 'Longhorn' and encourages customers to download and begin their evaluations today," said Joe Menard, corporate vice president of software strategy at AMD. "As a next- generation operating system, Windows Server 'Longhorn' is designed to take advantage of the innovative features of the AMD Opteron processor, including 64-bit, multicore, virtualization and power management. The combination of AMD dual- and 'Barcelona' native quad-core processors and Windows Server 'Longhorn' will provide a world-class performance-per-watt computing environment and enable IT managers to maximize budgets without compromising performance or efficiency."

    "Windows Server 'Longhorn' Beta 3 is an important next step toward the future of IT infrastructure management in data centers," said Diane Bryant, vice president of the Digital Enterprise Group and general manager of the Server Platforms group at Intel. "The combination of multicore Intel Xeon processor technology and Intel Itanium2 processor technology and Windows Server 'Longhorn' will maximize control for customers over their infrastructure while providing unprecedented availability, energy efficiency, flexibility and IT productivity."

    The Beta 3 release of Windows Server "Longhorn" marks the beginning of the second wave of innovation to be delivered by Microsoft over the next year. Following on the heels of the successful launch of Windows Vista(TM) and the 2007 Office system are Windows Server "Longhorn" and the next versions of Visual Studio(R), code-named "Orcas," and Microsoft SQL Server(TM), code-named "Katmai." These products will provide organizations with an advanced development and Web platform as well as streamlined data management and analysis, enabling infrastructure optimization.

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

    NOTE: Microsoft, Windows Server, Windows PowerShell, Active Directory, Windows, Windows Vista and Visual Studio 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: Rapid Response Team, Waggener Edstrom Worldwide,
    +1-503-443-7070, or rrt@waggeneredstrom.com

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




    Schwab Declares Regular Quarterly Dividend, Authorizes Additional Stock Repurchase

    SAN FRANCISCO, April 25 /PRNewswire-FirstCall/ -- The Board of Directors of The Charles Schwab Corporation has declared a regular quarterly cash dividend of $0.05 per common share. The dividend is payable May 25, 2007 to stockholders of record May 11, 2007.

    Separately, the Board today authorized repurchases of up to an additional $500 million of the Company's common stock. Shares may be repurchased through open market or privately negotiated transactions based on prevailing market conditions. For the first quarter of 2007, the Company had 1.3 billion weighted average common and common equivalent shares outstanding.

    Under an authorization granted by the Board on January 24, 2007, the Company has thus far repurchased 22 million shares for $426 million. Including $74 million remaining under the January 24 authorization, the Company now has authority to repurchase a total of $574 million of its common stock.

    The Charles Schwab Corporation is a leading provider of financial services, with more than 300 offices and 6.8 million client brokerage accounts, 1.1 million corporate retirement plan participants, 151,000 banking accounts, and $1.3 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org/), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Schwab Institutional division. The Charles Schwab Bank, N.A. (member FDIC) provides banking and mortgage services and products. CyberTrader(R), Inc. (member SIPC, http://www.sipc.org/) is an electronic trading technology and brokerage firm providing services to highly active, online traders. More information is available at http://www.schwab.com/.

    Charles Schwab

    CONTACT: Media, Greg Gable, +1-415-636-5847, Investors/Analysts, Rich
    Fowler, +1-415-636-9869, both of Charles Schwab

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




    Visual Defence annonce les résultats finaux pour l'exercice se terminant le 31 décembre 2006

    RICHMOND HILL, Ontario, April 26 /PRNewswire/ --

    Visual Defence Inc. (LSE : VDI), société de convergence de la sécurité, a annoncé aujourd'hui les résultats finaux pour l'exercice se terminant le 31 décembre 2006.

    Tous les montants en dollars sont en dollars canadiens.

    Points principaux -- Le chiffre d'affaires a augmenté de 233 pour cent par rapport à la période comparable de l'année précédente à $19,87 millions -- La croissance du chiffre d'affaires illustre le succès de la stratégie de Visual Defence de diversifier le chiffre d'affaires à travers de multiples zones géographiques -- Excluant la compensation basée sur les actions, les pertes pour amortissement et dépréciation ont été réduites à $2,52 millions, à comparer à $6,69 millions pour l'année précédente -- Plusieurs contrats importants ont été remportés durant la période, notamment BAA, l'Autorité aéroportuaire du Grand Toronto (GTAA) et US Customs and Immigration -- Annonce aujourd'hui d'une lettre d'intention et des étapes finales de négociations de contrat avec une autorité aéroportuaire gouvernementale pour un projet d'opérations de sécurité de type construction-exploitation-transfert (BOT) de 25 ans ; s'il est signé, il devrait avoir un effet important sur le chiffre d'affaires et les bénéfices de la société pendant la durée du contrat -- Carnet de commandes record à la fin de l'année d'environ $20 millions et solide réservoir de nouvelles opportunités -- Le bilan reste solide, avec une encaisse de $14,65 millions

    << Visual Defence débute 2007 avec un carnet de commandes record d'environ $20 millions et un solide réservoir de nouvelles opportunités >>, a déclaré Oved Tal, Président de Visual Defence. << La focalisation de la société sur la croissance du chiffre d'affaires, la gestion des marges et la maîtrise des coûts devrait aider à la diriger vers une rentabilité d'exploitation en 2007. Le Conseil croit que le marché de la convergence de la sécurité demeure solide, étant donné que les organisations continuent d'installer des systèmes de sécurité basés sur IP afin de produire de la valeur ajoutée. Les plates-formes de Visual Defence sont positionnées pour répondre à ces exigences. >>

    A propos de Visual Defence

    Visual Defence, société de convergence de la sécurité, fournit des solutions avancées gérant des systèmes critiques de mission pour des organisations leaders du monde entier. La société fournit aux gouvernements, aéroports, transports publics et commerces des solutions de sécurité et sûreté publique qui augmentent l'efficacité de la gestion tout en optimisant l'infrastructure de sécurité existante. Avec sa Common Management Platform, Visual Defence fournit aux clients des solutions personnalisables et évolutives qui répondent aux objectifs d'entreprise. Visual Defence a son siège au Canada. De plus amples informations sont disponibles sur www.visualdefence.com.

    CONTACT : Claire Barton Bill Watson Nadel Phelan, Inc. Visual Defence Inc. +1-831-440-2406 +1-905-731-1254 x222 claire@npipr.com bill.watson@visualdefence.com

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

    Visual Defence Inc.

    Claire Barton de Nadel Phelan, Inc., +1-831-440-2406, claire@npipr.com, pour Visual Defence Inc.; Bill Watson de Visual Defence Inc., +1-905-731-1254 x222, bill.watson@visualdefence.com

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