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Companies news of 2008-04-18 (page 2)

  • Chinatown Experiences AT&TCompany Opens Flagship Store in D.C. Hot Spot and Delivers...
  • Lexmark's newest color laser MFP is Highly Recommended by BERTL
  • ESCO Technologies Announces Webcast of Second Quarter 2008 Conference Call
  • 'Green' Technology Helps Verizon Wireless Save Energy, CO2 Emissions and Costs
  • CGI and George Mason University announce Initiative for Collaborative GovernmentStock...
  • Greater China Media & Entertainment Corporation Subsidiary Signs Contract with H-Line...
  • Sentry Technology Signs $1,400,000 Contract
  • ShoreTel Ranked Among Silicon Valley's Top 150 Public CompaniesAnnual San Jose Mercury...
  • VisionChina Media Announces Exclusive Agency Agreement with Guangzhou Metro TV Media...
  • Peter Coffman Joins KVH to Lead Commercial Marine Sales EffortManager of commercial and...
  • Webcast Alert: Active Power Announces First Quarter 2008 Conference Call
  • Honeywell Reports First Quarter Sales Up 11% to US$8.9 Billion; Earnings Up 30% to...
  • Ceragon Networks Reports First Quarter 2008 Financial Results
  • Honeywell Reports First Quarter Sales Up 11% to $8.9 Billion; Earnings Up 30% to $0.85 Per...
  • Telanetix Continues to Gain Traction in Targeted Vertical MarketsIP Solutions Provider...
  • High-Precision GNSS Positioning Launched in Madrid With Trimble VRS Now Service
  • Trimble GCS900 Grade Control System Allows Even Faster Grading Without Sacrificing...
  • Manpower Software plc Implements its MAPS Maritime Solution Onboard the New P&O Cruise...
  • DIRECTV to Purchase Installation Fulfillment Services Company 180 Connect Inc. to Gain...
  • Ninetowns Reports Goodwill Impairment Charge for Fiscal Year 2007
  • STS Group Résultat 1er trimestre 2008 : Doublement d'Activité
  • iGATE Reports 2008 First-Quarter ResultsContinued Strong Earnings Growth Drives iGATE...
  • Legend Silicon Releases 3rd Generation DTV Demodulator Chip
  • SiRF Appoints Diosdado Banatao as Executive ChairmanMichael Canning Resigns as President...
  • IGT Blasts NIGA 2008 With the Right Machines, Games, Platforms and SystemsOver 80 Games,...



    Chinatown Experiences AT&TCompany Opens Flagship Store in D.C. Hot Spot and Delivers Supercharged Access to Entire Wireless Portfolio

    WASHINGTON, April 18 /PRNewswire-FirstCall/ -- AT&T Inc. announced today the opening of an interactive flagship store, which gives customers a new way to experience and shop for wireless communications and entertainment services. Customers can view, touch and play with the products in this store, which is located at the corner of Seventh and H streets in Chinatown.

    This is the largest AT&T store in the mid-Atlantic, and its ultramodern design showcases the benefits of converged wireless services through several experience stations. The stations offer a hands-on approach with the company's extensive wireless portfolio, focusing on the elements that resonate most with users -- music, messaging, video, e-mail, data, gaming and browsing.

    "In a high-paced environment like the nation's capital, mobility is paramount," said Rob Forsyth, vice president and general manager of wireless operations in Maryland, Washington, D.C., and Northern Virginia. "At AT&T, we understand it is all about choices, which is why our flagship store encourages customers to experience the wireless services that matter most to them. Whether it's listening to music while browsing for the latest Wizards score or managing your calendar and e-mail while sharing video of the cherry blossoms, our flagship store encourages customers to play before they purchase."

    The two-floor space offers four experience stations that demonstrate the company's broad range of wireless technology and extensive customer choices.

    The experience stations feature: -- Music. Customers will be able to listen to XM Satellite Radio on wireless phones, Bluetooth(R) headphones and Bluetooth external speakers and will be able to transfer personalized music content by using a laptop or mobile phone. -- Gaming. AT&T experts will use wireless phones, Bluetooth stereo headsets and laptops to demonstrate how to download games to wireless phones and laptops. -- Messaging and Video. This station will highlight 3G phones and Bluetooth accessories and will provide customer interaction with multimedia messaging and photo- and video-sharing capabilities. -- E-Mail. Geared toward road warriors, on-the-go customers and small business owners, customers can experience smartphones, GPS and Bluetooth accessories. Customers can learn how to use e-mail and Microsoft Corp. applications on these devices, and they can get the hang of multimedia messaging and photo- and video-sharing capabilities.

    AT&T offers a broad range of products and services for its customers to reach the people, information and entertainment that they care about the most. AT&T offers more smartphones than any other carrier, unmatched music applications -- including more than 90,000 mobile content choices on the online marketplace MEdia Mall -- and the nation's largest high speed data network.

    "A new store opening is always an exciting occasion," said Barbara B. Lang, president and CEO of the DC Chamber of Commerce. "AT&T has long been a valued member of the district business community, made even more so by this state-of-the-art AT&T store at Gallery Place. D.C. residents are sure to benefit from the company's array of products and services. And looking at the big picture, AT&T's continued growth is concrete evidence of this city's economic strength and vitality."

    The Chinatown flagship store brings the number of company-owned stores in Maryland, Washington, D.C., and northern Virginia to 68. Customers can also purchase AT&T's wireless services and products at 580 agent retail locations in the area, which include Wal-Mart, Best Buy, RadioShack and Costco Wholesale. Since 2005, AT&T has invested nearly $600 million locally on wireless network enhancements to expand coverage, add capacity and expand its 3G network in Maryland, the district and northern Virginia.

    About AT&T

    AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.

    (C) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other AT&T marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

    Note: This AT&T news release and other announcements are available as part of an RSS feed at http://www.att.com/rss. For more information, please review this announcement in the AT&T newsroom at http://www.att.com/newsroom.

    AT&T Inc.

    CONTACT: Beth Gautier of AT&T Inc., +1-202-659-5888, Mobile,
    +1-202-270-5724, egautier@attnews.us

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




    Lexmark's newest color laser MFP is Highly Recommended by BERTL

    LEXINGTON, Ky., April 18 /PRNewswire-FirstCall/ -- Lexmark International, Inc.'s X560n, the latest addition to its color laser multifunction product (MFP) line, has been recognized with a Highly Recommended rating by BERTL, a leading independent test lab. BERTL gave the Lexmark X560n "four stars" for its affordability, image quality and ease of use in navigating the control panel, print drivers and included software.

    "At Lexmark's estimated street price of $999*, the X560n is competitively priced, and ideal for budget-conscious enterprises that are sensitive to price but still require a color-capable office imaging device that does it all -- print, copy, scan and fax," said BERTL in its review.

    The Lexmark X560n is ideally suited for medium and large workgroups that need color printing and multifunction capabilities. Fast, robust and network ready, the Lexmark X560n features business-class performance, printing at speeds up to 31 pages per minute (ppm) in black and 20 ppm in color.

    The Lexmark X560n is easy to maintain and operate, and features the highest-yield cartridges and lowest supplies intervention rate in its class. The Lexmark X560n is the first color laser MFP under $1,000 to offer 10,000-page** aftermarket toner cartridges in all four colors to help give customers a low cost-per-page and minimize environmental impact because of the need for fewer cartridges.

    "The X560n is a high-performance printer full of features and functionality that helps workgroups easily elevate office productivity without breaking their budgets," said Marty Canning, Lexmark vice president and president of its Printing Solutions and Services Division. "We are pleased to have our newest color laser MFP earn accolades from BERTL."

    About Lexmark

    Lexmark International, Inc. provides businesses and consumers in more than 150 countries with a broad range of printing and imaging products, solutions and services that help them to be more productive. In 2007, Lexmark reported $5.0 billion in revenue. Learn how Lexmark can help you get more done at http://www.lexmark.com/.

    Lexmark and Lexmark with diamond design are trademarks of Lexmark International, Inc., registered in the U.S. and/or other countries. All other trademarks are the property of their respective owners.

    All prices, features, specifications and capabilities are subject to change without notice.

    *All prices are estimated street prices in U.S. dollars -- actual prices may vary.

    **Average continuous black or continuous composite CMY declared cartridge yield is in accordance with ISO/IEC 19798.

    Lexmark International, Inc.

    CONTACT: Melissa Lucas of Lexmark International, Inc., +1-859-232-5806,
    mlucas@lexmark.com

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




    ESCO Technologies Announces Webcast of Second Quarter 2008 Conference Call

    ST. LOUIS, April 18 /PRNewswire-FirstCall/ -- ESCO Technologies Inc. announces the following webcast:

    Event: ESCO Second Quarter 2008 Conference Call Date: Tuesday, May 6 Time: 4 p.m. Central Daylight Time Where: http://www.escotechnologies.com/

    The Company's second quarter 2008 financial results will be released on Tuesday, May 6, at approximately 3 p.m. Central, followed by the conference call/webcast at 4 p.m. Central.

    Please access the Company's web site at least 15 minutes prior to the call to register, download and install any necessary audio software. If you are unable to participate, a replay will be available for seven days on the Company's web site at http://www.escotechnologies.com/ or by phone (dial 1-888-203-1112, passcode 1394569).

    ESCO, headquartered in St. Louis, is a proven supplier of special purpose utility solutions for electric, gas and water utilities, including hardware and software to support advanced metering applications and fully automated intelligent instrumentation. In addition, the Company provides engineered filtration products to the aviation, space and process markets worldwide and is the industry leader in RF shielding and EMC test products. Further information regarding ESCO and its subsidiaries is available on the Company's web site at http://www.escotechnologies.com/.

    ESCO Technologies Inc.

    CONTACT: Patricia K. Moore, Director, Investor Relations of ESCO
    Technologies Inc., +1-314-213-7277; or media inquiries, David P. Garino,
    +1-314-982-0551, for ESCO Technologies Inc.

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




    'Green' Technology Helps Verizon Wireless Save Energy, CO2 Emissions and Costs

    BASKING RIDGE, N.J., April 18 /PRNewswire/ -- This Earth Day and every day, Verizon Wireless is reaffirming its commitment to reduce energy consumption. Verizon Wireless has rolled-out energy-saving solutions on employee desktops across the country, resulting in reductions in operating costs, emissions and energy usage.

    Over the past year, Verizon Wireless has deployed 1E WakeUp, which ensures that all PCs, whether on or off, can be patched immediately, and NightWatchman(R), which significantly reduces the power consumed by PCs. This power management software is now available on 63,000 managed desktops company-wide, resulting in a 24 percent reduction in both PC power consumption and CO2 emissions. The initiative reduces annual energy costs by $1.3 million and carbon emissions by an estimated 7,700 tons.

    In addition, Verizon Wireless has deployed "thin client" solutions -- virtual technology that provides users access to centrally-stored programs and software -- in 17 of its call centers. Thin clients require less power and generate less heat than full workstations, so the company enjoys the benefits of powering a more compact unit, while also saving on cooling costs. Power consumption test results performed by local power companies for two call centers in Irvine, Calif., and Chandler, Ariz., found energy savings ranged from 50 to 60 percent.

    The smaller footprint of thin clients requires fewer manufacturing materials, reducing the environmental impact; thin client life-spans are longer and their failure rate is lower, which reduces replacement purchase and disposal costs.

    "At Verizon Wireless, we view going 'green' as important not only for the environment and our business, but also for our customers," said Ajay Waghray, chief information officer at Verizon Wireless. "Energy-saving initiatives make us more efficient and enable us to provide improved products and services for our customers. Another example of our commitment is Verizon Wireless' 'green bill,' available in our online customer account system, My Account. My Account puts detailed usage and billing information at our customers' fingertips in real-time. In addition to eliminating monthly mailings, saving paper and reducing the carbon footprint that results from the mailing process, 'green bill' users find more useful ways to organize and analyze their account information than with any paper bill."

    Verizon Wireless currently operates 33 call centers, more than 20 regional offices and several data centers across the country to provide support and service for more than 65 million customers. For more information about Verizon Wireless products and services, visit a Verizon Wireless Communications Store, call 1-800-2 JOIN IN or go to http://www.verizonwireless.com/.

    About Verizon Wireless

    Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 65.7 million customers. Headquartered in Basking Ridge, N.J., with 69,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

    Verizon Wireless

    CONTACT: Tom Pica of Verizon Wireless, +1-908-559-7516, or
    Thomas.Pica@verizonwireless.com

    Web site: http://www.verizonwireless.com/
    http://www.verizonwireless.com/multimedia




    CGI and George Mason University announce Initiative for Collaborative GovernmentStock Market Symbols GIB.A (TSX) GIB (NYSE)

    FAIRFAX, VA, April 18 /PRNewswire-FirstCall/ -- CGI Federal, Inc., a wholly-owned U.S. operating subsidiary of CGI Group Inc., (NYSE: GIB; TSX: GIB.A) and George Mason University (GMU) today announced a new joint program, the Initiative for Collaborative Government. It's mission is to analyze models of collaboration between government and the private and non-profit sectors, and how the government can best leverage these models to maximize mission results.

    "Collaboration and the networks, partnerships, and relationships that underlie them have become prominent elements of governance at the federal, state and local levels in the U.S. and abroad," said Dr. Paul Posner, Director, Master of Public Administration Program, George Mason University, and Co-Director of the Initiative. "The past two decades have seen recognition of the many ways to serve public purposes through cooperation and collaboration among agents of government, industry and nonprofits, as well as citizens and stakeholder groups."

    "Government today collaborates with the private and non-profit sector in executing a broad range of mission and administrative functions," said Andrew McLauchlin, Co-Director of the Initiative and Executive Consultant at CGI. "Specific examples of "collaborative government" include mature solution approaches such as service acquirer-provider relationships, public-private partnerships and cross-jurisdiction data exchanges, just to name a few. The Initiative is focused on helping federal government agencies capitalize on collaborative government models to enhance mission results."

    To this end, the Initiative has commissioned four cutting-edge research projects to be completed in 2008 on collaborative government to be undertaken by George Mason University faculty. These projects include papers on: Developing Jobs for Americans Through "Onshoring"; Applying Collaborative Government Strategies to Maximize Mission Impact; Building Partnerships in Professional Services. These projects are scheduled for release over the summer of 2008.

    In addition, the Initiative will host a 2008 series of events on "Collaboration: An Effective Tool for Government Executives." These events will provide public-sector, private sector and non-profit leaders a forum for discussing mission challenges and potential collaborative government solutions. The events will be held May 15th, June 18th, and July 22nd and focus on the following topics: Managing Effective Collaboration with Multiple Service Providers; Maximizing Mission Value from Enterprise-wide IT; Enhancing Mission Results Through Information Collaboration.

    For more information about the Initiative for Collaborative Government, please visit the Initiative at http://www.collaborativegov.org/.

    About CGI Federal

    CGI Federal (http://www.cgi.com/\usfederal) is a wholly-owned U.S. operating subsidiary of CGI Group Inc., dedicated to providing effective IT solutions for federal government agencies by combining over 30 years of government experience and technology skills. Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 26,500 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $3.7 billion and at December 31st, 2007, CGI's order backlog was $12.04 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) an are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: http://www.cgi.com/.

    CGI GROUP INC.

    CONTACT: Peter Cutler, Director, Communications, (703) 633-8973,
    peter.cutler@cgifederal.com




    Greater China Media & Entertainment Corporation Subsidiary Signs Contract with H-Line Ogilvy

    BEIJING, April 18 /Xinhua-PRNewswire/ -- Greater China Media & Entertainment Corporation (BULLETIN BOARD: GCME) (GCME), an integrated professional media and entertainment company, announced that its subsidiary, Racemind HuaDing (Racemind), has signed an agreement to design and produce a promotional clip titled "Communication Changes Our Life" for H-line Ogilvy (Beijing) Information Services Co., Ltd. (H-Line Ogilvy), one of the first and largest public relations and communications consultancy firms in China.

    Under the terms of the US $33,000 (RMB 231,480) contract, Racemind will launch and produce the designated promotional video "Communication Changes Our Life" with professional technical supports such as high-definition and 3D techniques.

    H-Line Ogilvy is a joint venture between H-Line, one of the largest public relations firms in China, and Ogilvy, one of the world's top five communications groups. Founded in 1994, H-Line Public Relations Corporation was one of the first public relations and communications consultancy firms in China.

    "Coming on the heels of last month's successful achievement, this exciting deal with H-line Ogilvy, the flagship of China's public relations industry, highly demonstrates GCME's ability to provide quality services," said Jack Wei, Chairman and CEO of Great China Media & Entertainment Corporation. "This is the first time we've contracted with a competitor in our industry. The selection of H-line Ogilvy reveals our competitive competency in the public relations sector. Contracts such as this, as well as our successful forays into film and television productions, will definitely boost our brand image and move us closer to our goal of being the market leader in China's public relation industry."

    About Greater China Media and Entertainment Corporation:

    Greater China Media & Entertainment Corp. ("GCME" or the "Company") is an integrated professional media and entertainment company covering various areas including film and TV program production, management, promotion and distribution. The Company maintains its own film and television production center, promotion agency, audio-visual distribution company, digital network company, talent agency, and sales and advertising agency as a result of recent joint ventures. With its broad range of media and entertainment talents, the Company is capable of making films, TV programs and related projects on a large scale.

    Joint Ventures and Affiliated Entity:

    In 2006, the Company formed a joint venture with Beijing Racemind HuaDing International Marketing Consultants Limited (Racemind) specializing in public relations, media strategy, consulting and event management services.

    The Company signed an agreement with Beijing Star King Talent Agency to form a joint venture to carry on business as a talent agency. The joint venture is in process.

    In March 2008, the Company obtained control of a local Chinese company called Beijing HuaDing Century International Cultural Limited Corp. ("Beijing HuaDing") to produce movies and TV series.

    Milestones Movie and television series productions and distributions -- GCME signed a trust agreement with Beijing Jin Ying Xiang Media Culture Limited Corp. to produce 'Rose Thorn', a 24-episode TV series. -- GCME-signed stars appear in the 'Invincible' TV series. -- GCME closed first round of private placement for US $1.6 million. -- Signed a production and distribution deal with Mega Vision Productions Limited for the new movie 'Tough Guy.' -- Delivered its first script for its 'True Love' television series to be directed by famed director Wong Jing. -- Signed a production and distribution deal for its 'Poor Dad, Rich Dad' television series with HuaYi Union Cultural Media Investment Company Limited. The series wrapped up shooting recently. Racemind HuaDing -- Released 2007 Chinese Film Industry Overview. -- Released Contracts Achievement for January, February and March 2008. -- Signed service agreement with Siemens Ltd., China's Transportation Systems group. Organized the 10th Anniversary Ceremony of Siemens Management Institute. -- Selected by Microsoft China as an approved public relations vendor.

    For more information, please visit the Company website at http://www.greaterchinamedia.com/ .

    Forward-looking statements:

    This report contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion. The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.

    For more information, please contact: Greater China Media & Entertainment Corp. Jake Wei Tel: +86-10-5921-2333

    Greater China Media and Entertainment Corporation

    CONTACT: Jake Wei of Greater China Media & Entertainment Corp.+86-10-
    5921-2333




    Sentry Technology Signs $1,400,000 Contract

    RONKONKOMA, N.Y., April 18 /PRNewswire-FirstCall/ -- Sentry Technology Corporation (BULLETIN BOARD: SKVY) announced today, the signing of a $1,400,000 contract to sell more than 100 SentryVision(R) SmartTrack(TM) traveling camera systems to the Mexico City Subway system via one of its Spanish dealers. The contract was won in competition with more than 30 companies.

    SmartTrack(TM) uses patented technology to transmit video images from two pan, tilt and zoom cameras traveling along an aluminum rail mounted on the ceiling. The camera carriage travels at high speeds and provides unobstructed views of people, goods and processes. Systems will begin shipping in May with the entire contract completed before the end of September 2008.

    The Mexico City Subway is 201 Km in length with 11 lines and 175 stations. It transports more than 1.4 billion passengers annually making it one of the world's largest subway systems.

    "We are very pleased to win this prestigious international contract," said Peter L. Murdoch, President and CEO of Sentry Technology Corporation. "The public transportation market is a growth opportunity for Sentry. Smart Track is well suited to this sector and we expect that other business will follow from this success both in Mexico and in other countries where the company is soliciting business."

    Sentry Technology Corporation designs, manufactures, sells and installs a complete line of Closed Circuit Television (CCTV) solutions, Electro-Magnetic (EM) and RFID based Library Management systems as well as Radio Frequency (RF) and Electro-Magnetic (EM) EAS systems. The CCTV product line features SentryVision(R), SmartTrack, a proprietary, patented traveling Surveillance System. The Company's products are used by libraries to secure inventory and improve operating efficiency, by retailers to deter shoplifting and internal theft and by industrial and institutional customers to protect assets and people. For further information, please visit our website at http://www.sentrytechnology.com/.

    This press release may include information that could constitute forward- looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include those matters disclosed in the Company's Securities and Exchange Commission filings.

    Sentry Technology Corporation

    CONTACT: Peter L. Murdoch, President & CEO of Sentry Technology
    Corporation, +1-631-739-2100

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

    Company News On-Call: http://www.prnewswire.com/comp/494538.html




    ShoreTel Ranked Among Silicon Valley's Top 150 Public CompaniesAnnual San Jose Mercury News Report Reviews and Ranks Silicon Valley's Largest Public Companies

    SUNNYVALE, Calif., April 18 /PRNewswire-FirstCall/ -- ShoreTel(R), Inc. , a leading provider of Pure IP Unified Communications solutions, announced today that the San Jose Mercury News has included ShoreTel in the 2007 Silicon Valley 150, ranking the company number 148 with $117.5 million in reported revenue for CY 2007. ShoreTel earned even higher marks for other report metrics, including 126th in market capitalization at $219.8 million, 95th in profit at $8.3 million and 70th in profit margin at 7 percent.

    The San Jose Mercury News, recognized as the newspaper of record for the Northern California technology business region, conducts the annual Silicon Valley 150, ranking public companies headquartered in Santa Clara, Santa Cruz, southern San Mateo and southern Alameda Counties. Companies are evaluated on the basis of worldwide revenues for the most recent available four quarters. Market capitalization -- the number of shares outstanding multiplied by the price of a single share -- is as of March 31, the last trading day of the first quarter of 2008.

    Throughout 2007, ShoreTel maintained a steady stream of partner, product and customer announcements, including strategic distribution partnerships with AT&T and Black Box.

    The company celebrated winning numerous prestigious awards, including Inc. magazine 5000 award, Deloitte Technology Fast 500 in North America and Fast 50 in the San Francisco Bay Area, and Silicon Valley/San Jose Business Journal Fast 50.

    The Silicon Valley 150 was published in the April 13, 2008 edition of the San Jose Mercury News.

    About ShoreTel, Inc.

    ShoreTel, Inc., is a leading provider of Pure IP Unified Communications solutions. ShoreTel enables companies of any size to seamlessly integrate all communications-voice, video, messaging and data-with their business processes. Independent of device or location, ShoreTel's distributed software architecture eliminates the traditional costs, complexity and reliability issues typically associated with other solutions. ShoreTel continues to deliver the highest levels of customer satisfaction, ease of use and manageability while driving down the overall total cost of ownership. ShoreTel is headquartered in Sunnyvale, California, and has regional offices in the United Kingdom, Sydney, Australia and Munich, Germany. For more information, visit http://www.shoretel.com/ or call 1-877-80SHORE.

    Press Contacts: Kim Rose ShoreTel, Inc. 408-331-3357 krose@shoretel.com

    ShoreTel, Inc.

    CONTACT: Kim Rose of ShoreTel, Inc., +1-408-331-3357,
    krose@shoretel.com

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




    VisionChina Media Announces Exclusive Agency Agreement with Guangzhou Metro TV Media Company

    BEIJING, April 18 /Xinhua-PRNewswire/ -- VisionChina Media Inc. , one of China's largest out-of home digital television advertising networks on mass transportation systems, today announced the signing of an exclusive agency agreement with Guangzhou Metro TV Media Company (GMTM) to operate a mobile digital television advertising network on the subway system in the city of Guangzhou.

    Signed on April 18th, 2008, the three-year agreement grants VisionChina Media the exclusive right to operate on all subways in the city of Guangzhou as well as on the platforms that service the subway system. So far, 2,700 screens have been installed and another 500 are scheduled to be installed by the end of 2008. These new screens will complement the five large LED screens that VisionChina already operates at the major intersection platforms of the Guangzhou subway system. The new contract also allows VisionChina to expand its placement of LED screens onto new platforms around the city as they open.

    Guangzhou, the capital city of Guangdong province has 10 million residents, of which 1.6 million ride the subway each day. Seventy-five percent of subway platforms and stations are located in major business centers and densely populated areas of the city, allowing companies who advertise on VisionChina Media's network to reach target audiences.

    ''This is an exciting development for VisionChina,'' said Mr. Limin Li, VisionChina Media's chairman and chief executive officer. ''Guangzhou is a major metropolitan center in China and is home to some of the most affluent communities in the country. In fact, Guangzhou is the third largest city in China in terms of GDP. Our ability to successfully negotiate favorable terms with GMTM to expand our network across their subway system is a major milestone for VisionChina Media. It is one more step toward becoming an alternative to traditional television advertising in China.''

    Ms. Dina Liu, VisionChina Media's chief financial officer commented, ''Our development and operations teams have been working hard to meet their targets and enable VisionChina to execute on strategy. We plan to expand our network to 20 cities by the end of 2008 and expanding the penetration of our services to include the subways of Guangzhou and to increase the number of subway platforms we serve in that city significantly increases our revenue capabilities in southern China.''

    According to official national statistical data Guangzhou's GDP reached RMB 606.8 billion in 2006. Guangzhou will host the Asian Games in 2010, a major sporting event with 45 participating nations expected to draw tourists from across Asia.

    About VisionChina Media Inc.

    VisionChina operates an out-of-home advertising network on mass transportation systems, including buses and subways that reach approximately 26 million viewers each day in China, according to CTR Market Research. As of December 31, 2007, VisionChina's advertising network included over 41,400 mobile digital displays on mass transportation systems in 15 of China's most affluent cities, including Beijing, Guangzhou and Shenzhen. VisionChina has the unique ability to deliver real-time, location-specific broadcasting, including news, stock quotes, weather and traffic reports and other entertainment programming. For more information, please visit http://www.visionchina.cn/ .

    For investor and media inquiries, please contact: In China: Mr. AJ Wang Senior IR Manager, VisionChina Media Inc. Tel: +86-10-8418-6339 Email: aj.wang@visionchina.cn Mrs. Helen Plummer Ogilvy Public Relations Worldwide (Beijing) Tel: +86-10-8520-3090 Email: helen.plummer@ogilvy.com In the United States: Mr. Jeremy Bridgman Ogilvy Public Relations Worldwide (New York) Tel: +1-212-880-5363 Email: jeremy.bridgman@ogilvypr.com

    VisionChina Media Inc.

    CONTACT: Mr. AJ Wang, Senior IR Manager, VisionChina Media Inc.,
    +86-10-8418-6339, or aj.wang@visionchina.cn, or Mrs. Helen Plummer, of Ogilvy
    Public Relations Worldwide (Beijing) for VisionChina Media Inc.,
    +86-10-8520-3090, or helen.plummer@ogilvy.com, or In the United States, Mr.
    Jeremy Bridgman, of Ogilvy Public Relations Worldwide (New York) for
    VisionChina Media Inc., +1-212-880-5363, or jeremy.bridgman@ogilvypr.com

    Web site: http://www.visionchina.cn/




    Peter Coffman Joins KVH to Lead Commercial Marine Sales EffortManager of commercial and industrial maritime markets to focus on expanding reach of TracPhone V7 and mini-VSAT Broadband service

    MIDDLETOWN, R.I., April 18 /PRNewswire-FirstCall/ -- Recognizing the importance of advanced satellite communications to commercial and industrial vessels and their crews, KVH Industries is increasing its commitment to the commercial maritime market with the recent hiring of Mr. Peter Coffman to the new position of Manager of Commercial and Industrial Maritime Markets. Mr. Coffman brings his expertise and guidance to KVH's expanding sales and distribution efforts in the offshore transport and exploration and production sectors, and will focus on global commercial opportunities for the new TracPhone(R) V7 satellite communications system and mini-VSAT Broadband(sm) service.

    "With the TracPhone V7 and mini-VSAT Broadband service, KVH offer commercial and industrial vessels an innovative and powerful satellite communications technology that brings significant advantages in size, data speed, and airtime costs. Since the early 1990s, there has been a continuing need for improved ship to shore connectivity and increased bandwidth," says Coffman. "As we enter a new era in the maritime and offshore operating environment, these requirements are expanding. I believe the new KVH commercial products and services are very well suited to the specific communications challenges facing industry managers and professionals today, and have the capability to evolve with the needs of the user community."

    Coffman comes to KVH with comprehensive experience in field engineering, sales and marketing of offshore satellite communications technology with industry leaders including Marlink, Nera SatCom AS, Schlumberger, and IDB Communications. He explains that satellite communications are increasingly important to the bottom-line business performance of companies that operate at sea. "Satellite communications has been viewed as a money-saving, essential component of business, technical, and logistical operations for many years. Today, access to broadband services and the applications these services enable for crew and contractors are important drivers for additional onboard communications facilities. Providing news, sports, and other entertainment programming equivalent to onshore networks is also high on managers' agendas. The TracPhone V7 system and mini-VSAT Broadband service are also well positioned to support advanced IP-centric applications such as condition-based maintenance and remote systems surveillance," he says. "I am sure that the KVH commercial product and network services suite, backed by a great engineering, technical and customer service team and extensive regional field support, will soon become a staple of maritime and offshore mobile communications."

    The TracPhone V7 delivers mini-VSAT Broadband service via a rugged, 24" (60 cm) antenna. A fraction of the size of standard 1-meter VSAT systems, the TracPhone V7 (and its fully integrated below-decks modem and control unit) offers easy connections to shipboard networks, fully stabilized tracking, and a significant reduction in hardware and installation costs, without compromising performance. This advanced solution offers the capability to easily send and receive manifests, access company networks, download chart updates, and use the enhanced VoIP telephone service to help crew members stay in touch with their loved ones. KVH also offers global broadband with the TracPhone FB250 and FB500, which work with Inmarsat's FleetBroadband service, and satellite TV via the award-winning TracVision(R) M-series.

    "Peter is a valuable addition to our efforts in the commercial maritime market, and we're excited to have him on our team," says Ian Palmer, KVH's executive vice president for satellite sales. "His extensive offshore industry expertise will help us to leverage our innovative satellite communications and television products in the commercial maritime communications industry, making our expansion into this broad and important market a success."

    Additional information regarding the TracPhone V7 and mini-VSAT Broadband service are available at http://www.kvh.com/.

    Note to Editors: High-resolution photos of the TracPhone V7 and Mr. Coffman are available at http://press.kvh.com/ for download and editorial use.

    About KVH Industries, Inc.

    Middletown, RI-based KVH Industries, Inc., is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured, and sold more than 150,000 mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. Winner of the prestigious General Motors Innovative Design Award, 2 CES Innovation Awards, 23 National Marine Electronics Association "Best Product" awards, the DAME Award in the Marine Electronics category, and a finalist for the Automotive News PACE Award, KVH's mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their home and offices.

    This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; anticipated innovation and product development; and customer preferences, requirements and expectations. The actual results could differ materially. Factors that may cause such differences include, among others, those discussed in KVH's most recent Form 10-K filed with the SEC. KVH assumes no obligation to update its forward-looking statements to reflect new information or developments.

    KVH Industries, Inc.

    CONTACT: Chris Watson of KVH Industries, +1-401-845-8138,
    cwatson@kvh.com

    Web site: http://www.kvh.com/
    http://press.kvh.com/




    Webcast Alert: Active Power Announces First Quarter 2008 Conference Call

    AUSTIN, Texas, April 18 /PRNewswire-FirstCall/ -- Active Power, Inc. announces the following Webcast:

    What: Active Power, Inc. Webcast When: April 25, 2008 at 11:00 a.m. (ET) Where: http://www.videonewswire.com/event.asp?id=47738 How: Live over the Internet. Simply log on to the Web at the address above. Contact: John Penver of Active Power, Inc., 512-744-9234

    If you are unable to listen in on the live Webcast, the call will be archived on the Web site http://www.videonewswire.com/event.asp?id=47738.

    Active Power provides efficient, reliable and green critical power solutions and uninterruptible power supply (UPS) systems to enable business continuity in the event of power disturbances. Founded in 1992, Active Power's flywheel-based UPS systems protect critical operations in data centers, healthcare facilities, manufacturing plants, broadcast stations and governmental agencies in more than 40 countries. Active Power also offers CoolAir, the only solution that provides both backup power and backup cooling. With expert power system engineers and worldwide services and support, Active Power ensures organizations have the power to perform. For more information, please visit http://www.activepower.com/.

    Audio: http://www.videonewswire.com/event.asp?id=47738 Active Power, Inc.

    CONTACT: John Penver of Active Power, Inc., +1-512-744-9234

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




    Honeywell Reports First Quarter Sales Up 11% to US$8.9 Billion; Earnings Up 30% to US$0.85 Per Share

    MORRIS TOWNSHIP, New Jersey, April 18 /PRNewswire/ --

    -- Organic Revenue Growth Across All Regions -- Cash from Operations and Free Cash Flow Up 25% -- Continued Aggressive Repositioning to Benefit Future Periods -- Major Contract Wins with Embraer, Gulfstream, and Airbus -- Full-Year Earnings per Share Guidance Moved to High End of Previous Range

    Honeywell (NYSE: HON) today announced first quarter 2008 sales increased 11% to US$8.9 billion from US$8.0 billion in 2007. Earnings were up 30% to US$0.85 per share, versus US$0.66 per share in the prior year. Cash flow from operations was US$721 million versus US$578 million in the first quarter of 2007 and free cash flow (cash flow from operations less capital expenditures) was US$571 million, compared to US$458 million last year, in each case an increase of 25%.

    "We continue to outperform with double-digit sales, EPS, and free cash flow increases in the quarter," said Honeywell Chairman and CEO Dave Cote. "Our global reach and diversified portfolio of businesses helped to drive organic sales growth across all regions. We also continue to win major multi-year contracts that support the favorable long-term outlook for our businesses."

    "We remain confident in Honeywell's outlook despite tougher global economic conditions," added Cote. "We continue to invest in innovation and acquisitions while executing on productivity initiatives such as Honeywell Operating System, Velocity Product Development, and Functional Transformation. Our cash deployment strategy and focus on organic sales growth and productivity are delivering strong returns to our shareowners."

    Honeywell is increasing its previously stated 2008 sales guidance by US$700 million to US$36.8 - 37.4 billion and is moving its earnings per share guidance to US$3.70 - 3.80, the high end of its previously stated range.

    (All amounts in US Dollars)

    First Quarter Segment Highlights

    Aerospace -- Sales were up 7%, compared with the first quarter of 2007, driven by 8% growth in Commercial and 5% growth in Defense and Space sales. Commercial sales reflected growth of 8% in original equipment and 8% in aftermarket spares and services. Defense and Space sales included the positive impact of the Dimensions International acquisition. -- Segment profit grew 13%, while segment margin increased by 100 bps to 18.6%, due primarily to increased prices, productivity, and sales volume growth, partially offset by inflation. -- Honeywell has been chosen to supply the latest generation of its HTF7000 turbofan propulsion system family for Embraer's new MSJ and MLJ business aircraft in a contract valued at more than $23 billion (including aftermarket) over the life of the contract. The HTF7500-E engine will feature new technology to achieve reduced emissions and improved fuel efficiency. -- Honeywell was selected to supply avionics and mechanical systems for the new Gulfstream G650 aircraft worth an estimated $3 billion. The contract includes the first business jet application of Honeywell's Next Generation Flight Management System, previously announced for the Boeing 747-8, as well as its RDR4000 turbulence certified weather radar that is in service on the Airbus A380 and Air Force C-17 aircraft. -- Honeywell secured a $1.5 billion contract (including aftermarket) to provide the Flight Management System and the Aircraft Environment Surveillance System for Airbus' new long-range, extra wide-body A350XWB aircraft. In September 2007, Honeywell was selected by Airbus to provide advanced Air Management Systems and auxiliary power unit technologies for the Airbus A350XWB in a contract valued at $16 billion (including aftermarket) over the life of the contract. Automation and Control Solutions -- Sales were up 14%, compared with the first quarter of 2007, due to acquisitions, the favorable impact of foreign exchange and organic growth. Sales were up 14% in the Products businesses and up 14% in the Solutions businesses. -- Segment profit grew 20%, while segment margin increased by 50 bps to 10.3%, driven by productivity savings and the favorable impact of foreign exchange, partially offset by inflation and the impact of acquisitions. -- Life Safety announced an agreement to acquire Norcross Safety Products, a leading manufacturer in the large and growing personal protection equipment market for fire, utility, and general industrial applications, for approximately $1.2 billion. -- Building Solutions was awarded four renewable energy solar panel projects in California and Oregon. The projects are expected to produce more than 2.4 million kilowatt-hours of electricity annually, which can power up to 225 homes per year. The business will also partner with Baltimore Gas & Electric on a demand response program giving the utility greater control of peak consumption using Honeywell's new UtilityPRO(TM) thermostat. -- Process Solutions will provide its Experion(R) Process Knowledge System for a new liquefied natural gas (LNG) project in Western Australia. The integrated control system will streamline production, improve operational efficiency and safety, and provide data from subsystems throughout the facility to aid operator decision making. Transportation Systems -- Sales were up 6%, compared with the first quarter of 2007, driven by the favorable impact of foreign exchange and increased sales in our Turbo Technologies business. -- Segment profit decreased 4%, while segment margin decreased by 130 bps to 11.7%, resulting from CPG volume declines, the impact of commodity inflation, and investments in product development to support future Turbo platforms. -- Turbo Technologies was awarded three contracts estimated at more than $183 million in revenue over the life of the programs. These include new technology solutions for passenger vehicle diesel engines and will be produced in Japan and Europe for export to European and U.S. markets beginning in 2009. -- Honeywell's turbochargers were featured on 28 new vehicles - with engines ranging from 1.1 to 4.4 liters - at the 78th International Motor Show of Geneva in March. The company introduced its latest gasoline turbo technology on the new BMW X6. Specialty Materials -- Sales were up 18% compared with the first quarter of 2007, driven by growth in all businesses, particularly UOP, Resins and Chemicals, and Fluorine Products. -- Segment profit grew 38%, while segment margin increased by 280 bps to 18.8%, driven by pricing and productivity gains, which more than offset inflation. -- UOP plans to establish a natural gas processing design center in Kuala Lumpur, Malaysia, to better support the growing Southeast Asia market. The new design center will focus initially on executing projects involving UOP's Separex(TM) membrane systems, which are used to remove impurities from natural gas streams. -- Honeywell Performance Products will expand production of Aclar(R) film to meet growing demand for the clear, moisture-barrier material, which is used extensively in pharmaceutical packaging. An upgrade of existing production capabilities, combined with overall productivity improvements, is expected to boost Aclar production by up to 23% by the end of 2008.

    Honeywell will discuss its results during its investor conference call today starting at 8:00 a.m. EDT. To participate, please dial +1-706-643-7681 a few minutes before the 8:00 a.m. start. Please mention to the operator that you are dialing in for Honeywell's investor conference call. The live webcast of the investor call will be available through the "Investor Relations" section of the company's Website (http://www.honeywell.com/investor). Investors can access a replay of the investor call starting at 11:00 a.m. EDT, April 18, until 11 p.m., April 25, by dialing +1-706-645-9291. The access code is 39285103.

    Honeywell International is a $36 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London and Chicago Stock Exchanges. For additional information, please visit www.honeywell.com.

    This release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward- looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward- looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10- K and other filings with the Securities and Exchange Commission.

    Contacts: Media Investor Relations Robert C. Ferris Murray Grainger +1-973-455-3388 +1-973-455-2222 rob.ferris@honeywell.com murray.grainger@honeywell.com

    Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (In millions except per share amounts) Three Months Ended March 31, ---------------------------- 2008 2007 --------- ---------- Product sales $7,156 $6,450 Service sales 1,739 1,591 --------- ---------- Net sales 8,895 8,041 --------- ---------- Costs, expenses and other Cost of products sold (A) 5,507 5,010 Cost of services sold (A) 1,165 1,140 --------- ---------- 6,672 6,150 Selling, general and administrative expenses (A) 1,255 1,089 Other (income) expense (22) (11) Interest and other financial charges 115 97 --------- ---------- 8,020 7,325 --------- ---------- Income before taxes 875 716 Tax expense 232 190 --------- ---------- Net income $643 $526 ========= ========== Earnings per share of common stock - basic $0.87 $0.66 ========= ========== Earnings per share of common stock - assuming dilution $0.85 $0.66 ========= ========== Weighted average number of shares outstanding-basic 743 795 ========= ========== Weighted average number of shares outstanding - assuming dilution 753 802 ========= ========== (A) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, pension and other post-retirement expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Net Sales Three Months Ended March 31, ---------------------------- 2008 2007 --------- ---------- Aerospace $3,030 $2,840 Automation and Control Solutions 3,180 2,801 Specialty Materials 1,409 1,199 Transportation Systems 1,276 1,201 Corporate - - --------- ---------- Total $8,895 $8,041 ========= ========== Reconciliation of Segment Profit to Income Before Taxes Segment Profit Three Months Ended March 31, ---------------------------- 2008 2007 --------- ---------- Aerospace $563 $500 Automation and Control Solutions 328 274 Specialty Materials 265 192 Transportation Systems 149 156 Corporate (56) (43) --------- ---------- Total Segment Profit 1,249 1,079 Other income/ (expense) (A) 6 11 Interest and other financial charges (115) (97) Stock compensation expense (B), (C) (41) (24) Pension and other postretirement expense (B) (27) (74) Repositioning and other charges (B) (197) (179) --------- ---------- Income before taxes $875 $716 ========= ========== (A) Equity income/(loss) of affiliated companies is included in Segment Profit, on a prospective basis, commencing January 1, 2008. Other income/(expense) as presented above includes equity income/(loss) of affiliated companies of ($2) million for the three months ended March 31, 2007. (B) Amounts included in cost of products and services sold and selling, general and administrative expenses. (C) Costs associated with restricted stock units ("RSU") are excluded from Segment Profit, on a prospective basis, commencing January 1, 2008. Stock compensation expense, including RSU expense, totaled $39 million for the three months ended March 31, 2007. Stock option expense is included for all periods presented.

    Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) March 31, December 31, 2008 2007 --------- ---------- ASSETS Current assets: Cash and cash equivalents $2,234 $1,829 Accounts, notes and other receivables 6,604 6,387 Inventories 4,149 3,861 Deferred income taxes 1,338 1,241 Other current assets 418 367 --------- ---------- Total current assets 14,743 13,685 Investments and long-term receivables 522 500 Property, plant and equipment - net 5,012 4,985 Goodwill 9,251 9,175 Other intangible assets - net 1,492 1,498 Insurance recoveries for asbestos related liabilities 1,007 1,086 Deferred income taxes 676 637 Prepaid pension benefit cost 1,268 1,256 Other assets 973 983 --------- ---------- Total assets $34,944 $33,805 ========= ========== LIABILITIES AND SHAREOWNERS' EQUITY Current liabilities: Accounts payable $4,097 $3,962 Short-term borrowings 62 64 Commercial paper 896 1,756 Current maturities of long-term debt 518 418 Accrued liabilities 5,759 5,741 --------- ---------- Total current liabilities 11,332 11,941 Long-term debt 6,576 5,419 Deferred income taxes 952 734 Postretirement benefit obligations other than pensions 2,012 2,025 Asbestos related liabilities 1,419 1,405 Other liabilities 3,017 3,059 Shareowners' equity 9,636 9,222 --------- ---------- Total liabilities and shareowners' equity $34,944 $33,805 ========= ==========

    Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended March 31, --------------------------- 2008 2007 --------- ---------- Cash flows from operating activities: Net income $643 $526 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 217 200 Repositioning and other charges 197 179 Net payments for repositioning and other charges (21) (132) Pension and other postretirement expense 27 74 Pension and other postretirement benefit payments (61) (45) Stock compensation expense 41 24 Deferred income taxes 108 17 Excess tax benefits from share based payment arrangements (7) (8) Other 45 6 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts, notes and other receivables (224) (136) Inventories (289) (161) Other current assets (35) 36 Accounts payable 135 65 Accrued liabilities (55) (67) --------- ---------- Net cash provided by operating activities 721 578 --------- ---------- Cash flows from investing activities: Expenditures for property, plant and equipment (150) (120) Proceeds from disposals of property, plant and equipment 12 33 Decrease in investments 6 - Cash paid for acquisitions, net of cash acquired (55) (13) Proceeds from sales of businesses, net of fees paid - 9 Other (2) - --------- ---------- Net cash used for investing activities (189) (91) --------- ---------- Cash flows from financing activities: Net (decrease)/increase in commercial paper (860) 328 Net (decrease)/increase in short-term borrowings (3) 3 Proceeds from issuance of common stock 51 119 Proceeds from issuance of long-term debt 1,487 988 Payments of long-term debt (225) (398) Excess tax benefits from share based payment arrangements 7 8 Repurchases of common stock (441) (1,186) Cash dividends paid on common stock (204) (199) --------- ---------- Net cash used for financing activities (188) (337) --------- ---------- Effect of foreign exchange rate changes on cash and cash equivalents 61 4 --------- ---------- Net increase in cash and cash equivalents 405 154 Cash and cash equivalents at beginning of period 1,829 1,224 --------- ---------- Cash and cash equivalents at end of period $2,234 $1,378 ========= ========== Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Free Cash Flow (Unaudited) (Dollars in millions) Three Months Ended March 31, -------------------------- 2008 2007 --------- --------- Cash provided by operating activities $721 $578 Expenditures for property, plant and equipment (150) (120) --------- --------- Free cash flow $571 $458 ========= ========= We define free cash flow as cash provided by operating activities, less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, and to pay dividends, repurchase stock, or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity. Web site: http://www.honeywell.com http://www.honeywell.com/investor

    Honeywell

    Media, Robert C. Ferris, +1-973-455-3388, rob.ferris@honeywell.com; Investors, Murray Grainger, +1-973-455-2222, murray.grainger@honeywell.com, both of Honeywell




    Ceragon Networks Reports First Quarter 2008 Financial Results

    TEL AVIV, Israel, April 18 /PRNewswire-FirstCall/ -- Ceragon Networks Ltd. (NASDAQ and TASE: CRNT), a leading provider of high-capacity wireless backhaul solutions, today reported results for the first quarter which ended March 31, 2008.

    Revenues for the first quarter of 2008 were $47.2 million, up 39% from $33.9 million for the first quarter of 2007 and 2% from $46.1 million in the fourth quarter of 2007.

    Net income in accordance with US Generally Accepted Accounting Principles (GAAP) for the first quarter of 2008 was $4.3 million or $0.12 per basic share and $0.11 per diluted share, compared to net income of $2.6 million in the first quarter of 2007, or $0.10 per basic share and $0.09 per diluted share.

    On a non-GAAP basis net income for the first quarter, excluding $644,000 of equity-based compensation expenses, was $4.9 million, or $0.13 per basic and diluted share. Non-GAAP net income for the first quarter of 2007 was $3.0 million, or $0.11 per basic share and $0.10 per diluted share. The growth in non-GAAP net income in the first quarter of 2008 was 63% when compared to the first quarter of 2007 (Please refer to the accompanying financial table for reconciliation of GAAP financial information to non-GAAP).

    Gross margin on a GAAP basis in the first quarter of 2008 was 35.3% of revenues.

    "We are pleased to report an excellent start to the year," said Ira Palti, President and CEO of Ceragon. "Q1 revenues set a new record, our OEM business was excellent and growing demand in the Asia Pacific and EMEA regions more than offset the recent weakness in North America. The global trends driving our business are very strong. We are aggressively managing our costs to compensate for the potential impact of currency fluctuations and lower interest rates, and we continue to target 25-30% revenue growth.

    A conference call discussing Ceragon's results for the first quarter of 2008, business conditions, outlook and guidance, will take place today, April 18, 2008, at 9:00 a.m. (EDT). Investors can join the Company's teleconference by calling (800)230-1951 or international (612)332-0634 at 8:50 a.m. EDT.

    Investors are also invited to listen to the call live via the Internet by accessing Ceragon Networks' website at the investors' page: http://www.ceragon.com/ir_events.asp selecting the webcast link, and following the registration instructions.

    If you are unable to join us live, the replay numbers are: (800)475-6701 or international (320)365-3844, Access code 917161.

    A replay of both the call and the webcast will be available through May 18, 2008.

    About Ceragon Networks Ltd.

    Ceragon Networks Ltd. (NASDAQ and TASE: CRNT) is a leading provider of high capacity wireless backhaul solutions that enable wireless service providers to deliver voice and premium data services, such as Internet browsing, music and video applications. Ceragon's wireless backhaul solutions use microwave technology to transfer large amounts of network traffic between base stations and the infrastructure at the core of the mobile network. Ceragon designs solutions to provide fiber-like connectivity for circuit-switched, or SONET/SDH, networks, next generation Ethernet/Internet Protocol, or IP-based, networks, and hybrid networks that combine circuit-switched and IP-based networks. Ceragon's solutions support all wireless access technologies, including GSM, CDMA, EV-DO and WiMAX. These solutions address wireless service providers' need to cost-effectively build-out and scale their infrastructure to meet the increasing demands placed on their networks by growing numbers of subscribers and the increasing demand for premium data services. Ceragon also provides its solutions to businesses and public institutions that operate their own private communications networks. Ceragon's solutions are deployed by more than 150 service providers of all sizes, as well as in hundreds of private networks, in nearly 100 countries. More information is available at http://www.ceragon.com/

    Ceragon Networks(R), CeraView(R), FibeAir(R) and the FibeAir(R) design mark are registered trademarks of Ceragon Network s Ltd., and Ceragon(TM), PolyView(TM), ConfigAir(TM), CeraMon(TM), EtherAir(TM), QuickAir(TM), QuickAir Partner Program(TM), QuickAir Partner Certification Program(TM), QuickAir Partner Zone(TM), EncryptAir(TM) and Microwave Fiber(TM) are trademarks of Ceragon Networks Ltd.

    This press release may contain statements concerning Ceragon's future prospects that are "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and projections that involve a number of risks and uncertainties. There can be no assurance that future results will be achieved, and actual results could differ materially from forecasts and estimates. These are important factors that could cause actual results to differ materially from forecasts and estimates. These risks and uncertainties, as well as others, are discussed in greater detail in Ceragon's Annual Report on Form 20-F and Ceragon's other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made and Ceragon undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made.

    Ceragon Reports First Quarter 2008 Results CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands, except share and per share data) (Unaudited) Three months ended March 31, 2008 2007 Revenues $ 47,176 $ 33,936 Cost of revenues 30,515 21,627 Gross profit 16,661 12,309 Operating expenses: Research and development 4,819 3,490 Selling and marketing 7,026 5,250 General and administrative 1,361 1,119 Total operating expenses $ 13,206 $ 9,859 Operating profit 3,455 2,450 Financial income, net 818 173 Net income $ 4,273 $ 2,623 Basic net earnings per share $ 0.12 $ 0.10 Diluted net earnings per share $ 0.11 $ 0.09 Weighted average number of shares used in computing basic net earnings per share 36,943,142 27,600,884 Weighted average number of shares used in computing diluted net earnings per share 38,830,582 29,148,689 Ceragon Reports First Quarter 2008 Results CONDENSED CONSOLIDATED BALANCE SHEETS (U.S. dollars in thousands) (Unaudited) March 31, December 31, 2008 2007 ASSETS CURRENT ASSETS: Cash and cash equivalents 48,298 58,650 Short-term bank deposits 23,151 25,997 Marketable securities 8,809 6,399 Trade receivables, net 41,520 40,533 Other accounts receivable and prepaid expenses 8,947 10,888 Inventories 34,168 36,763 Total current assets $ 164,893 $ 179,230 LONG-TERM INVESTMENTS: Long-term bank deposits 12,154 12,030 Long-term marketable securities 28,196 18,665 Severance pay funds 3,788 3,268 Total long-term investments 44,138 33,963 PROPERTY AND EQUIPMENT, NET 5,309 4,447 Total assets $ 214,340 $ 217,640 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Trade payables 22,707 $ 25,173 Deferred revenues 4,628 6,702 Other accounts payable and accrued expenses 12,825 14,935 Total current liabilities $ 40,160 $ 46,810 LONG-TERM LIABILITIES Accrued severance pay 5,954 5,286 Other payables 2,232 4,650 Total long-term liabilities $ 8,186 $ 9,936 SHAREHOLDERS' EQUITY: Ordinary shares 91 91 Additional paid-in capital 281,939 281,086 Other comprehensive income 254 280 Accumulated deficit (116,290) (120,563) Total shareholders' equity 165,994 160,894 Total liabilities and shareholders' equity $ 214,340 $ 217,640 Ceragon Reports First Quarter 2008 Results CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (U.S. dollars, in thousands) (Unaudited) Three month ended March 31, 2008 2007 Cash flow from operating activities: Net income 4,273 2,623 Adjustments to reconcile net income to net cash used in operating activities: Depreciation 392 320 Stock-based compensation expense 644 390 Decrease (increase) in trade and other receivables, net 928 (489) Decrease (increase) in inventory 2,595 (4,811) Decrease in trade payables and accrued liabilities (6,884) (2,465) Increase (decrease) in deferred revenues (2,074) 3,841 Other adjustments (19) (37) Net cash used in operating activities (145) (628) Cash flow from investing activities: Purchase of property and equipment ,net (1,034) (474) Investment in short and long-term bank deposits (13,209) - Proceeds from short and long-term bank deposits 16,057 3,337 Investment in held-to-maturity marketable securities (14,000) (1,200) Proceeds from maturities of held-to-maturity marketable securities 2,100 3,384 Net cash provided by (used in) investing activities (10,086) 5,047 Cash flow from financing activities: Proceeds from exercise of options 209 1,163 Issuance costs (330) - Net cash provided by (used in) financing activities (121) 1,163 Increase (decrease) in cash and cash equivalents (10,352) 5,582 Cash and cash equivalents at the beginning of the period 58,650 10,170 Cash and cash equivalents at the end of the period 48,298 15,752 Ceragon Reports First Quarter 2008 Results RECONCILIATION OF NON-GAAP FINANCIAL RESULTS U.S. dollars in thousands, except share and per share data Three months ended March 31, 2008 2007 GAAP (as reported) Adjustment (*) Non-GAAP Non-GAAP Revenues $ 47,176 $ 47,176 $ 33,936 Cost of revenues 30,515 70 30,445 21,598 Gross profit 16,661 16,731 12,338 Operating expenses: Research and development 4,819 159 4,660 3,428 Selling and marketing 7,026 279 6,747 5,102 General and administrative 1,361 136 1,225 968 Total operating expenses $ 13,206 $ 12,632 9,498 Operating profit 3,455 4,099 2,840 Financial income, net 818 818 173 Net income $ 4,273 $ 4,917 $ 3,013 Basic net earnings per share $ 0.12 $ 0.13 $ 0.11 Diluted net earnings per share $ 0.11 $ 0.13 $ 0.10 Weighted average number of shares used in computing basic net earnings per share 36,943,142 36,943,142 27,600,884 Weighted average number of shares used in computing diluted net earnings per share 38,830,582 38,830,582 29,148,689 Total adjustments 644 (*) Adjustments related to equity based compensation expenses according to SFAS 123 (R) Ceragon Reports First Quarter 2008 Results Contact: Vered Shaked Investor Relations Manager Ceragon Networks Ltd. Int'l +972-52-573-5513 US +1-201-853-0228 vereds@ceragon.com

    Ceragon Networks Ltd

    CONTACT: Contact: Vered Shaked, Investor Relations Manager, Ceragon
    Networks Ltd., Int'l +972-52-573-5513, US +1-201-853-0228, vereds@ceragon.com




    Honeywell Reports First Quarter Sales Up 11% to $8.9 Billion; Earnings Up 30% to $0.85 Per Share-- Organic Revenue Growth Across All Regions-- Cash from Operations and Free Cash Flow Up 25%-- Continued Aggressive Repositioning to Benefit Future Periods-- Major Contract Wins with Embraer, Gulfstream, and Airbus-- Full-Year Earnings per Share Guidance Moved to High End of Previous Range

    MORRIS TOWNSHIP, N.J., April 18 /PRNewswire-FirstCall/ -- Honeywell today announced first quarter 2008 sales increased 11% to $8.9 billion from $8.0 billion in 2007. Earnings were up 30% to $0.85 per share, versus $0.66 per share in the prior year. Cash flow from operations was $721 million versus $578 million in the first quarter of 2007 and free cash flow (cash flow from operations less capital expenditures) was $571 million, compared to $458 million last year, in each case an increase of 25%.

    "We continue to outperform with double-digit sales, EPS, and free cash flow increases in the quarter," said Honeywell Chairman and CEO Dave Cote. "Our global reach and diversified portfolio of businesses helped to drive organic sales growth across all regions. We also continue to win major multi-year contracts that support the favorable long-term outlook for our businesses."

    "We remain confident in Honeywell's outlook despite tougher global economic conditions," added Cote. "We continue to invest in innovation and acquisitions while executing on productivity initiatives such as Honeywell Operating System, Velocity Product Development, and Functional Transformation. Our cash deployment strategy and focus on organic sales growth and productivity are delivering strong returns to our shareowners."

    Honeywell is increasing its previously stated 2008 sales guidance by $700 million to $36.8 - 37.4 billion and is moving its earnings per share guidance to $3.70 - 3.80, the high end of its previously stated range.

    First Quarter Segment Highlights Aerospace -- Sales were up 7%, compared with the first quarter of 2007, driven by 8% growth in Commercial and 5% growth in Defense and Space sales. Commercial sales reflected growth of 8% in original equipment and 8% in aftermarket spares and services. Defense and Space sales included the positive impact of the Dimensions International acquisition. -- Segment profit grew 13%, while segment margin increased by 100 bps to 18.6%, due primarily to increased prices, productivity, and sales volume growth, partially offset by inflation. -- Honeywell has been chosen to supply the latest generation of its HTF7000 turbofan propulsion system family for Embraer's new MSJ and MLJ business aircraft in a contract valued at more than $23 billion (including aftermarket) over the life of the contract. The HTF7500-E engine will feature new technology to achieve reduced emissions and improved fuel efficiency. -- Honeywell was selected to supply avionics and mechanical systems for the new Gulfstream G650 aircraft worth an estimated $3 billion. The contract includes the first business jet application of Honeywell's Next Generation Flight Management System, previously announced for the Boeing 747-8, as well as its RDR4000 turbulence certified weather radar that is in service on the Airbus A380 and Air Force C-17 aircraft. -- Honeywell secured a $1.5 billion contract (including aftermarket) to provide the Flight Management System and the Aircraft Environment Surveillance System for Airbus' new long-range, extra wide-body A350XWB aircraft. In September 2007, Honeywell was selected by Airbus to provide advanced Air Management Systems and auxiliary power unit technologies for the Airbus A350XWB in a contract valued at $16 billion (including aftermarket) over the life of the contract. Automation and Control Solutions -- Sales were up 14%, compared with the first quarter of 2007, due to acquisitions, the favorable impact of foreign exchange and organic growth. Sales were up 14% in the Products businesses and up 14% in the Solutions businesses. -- Segment profit grew 20%, while segment margin increased by 50 bps to 10.3%, driven by productivity savings and the favorable impact of foreign exchange, partially offset by inflation and the impact of acquisitions. -- Life Safety announced an agreement to acquire Norcross Safety Products, a leading manufacturer in the large and growing personal protection equipment market for fire, utility, and general industrial applications, for approximately $1.2 billion. -- Building Solutions was awarded four renewable energy solar panel projects in California and Oregon. The projects are expected to produce more than 2.4 million kilowatt-hours of electricity annually, which can power up to 225 homes per year. The business will also partner with Baltimore Gas & Electric on a demand response program giving the utility greater control of peak consumption using Honeywell's new UtilityPRO(TM) thermostat. -- Process Solutions will provide its Experion(R) Process Knowledge System for a new liquefied natural gas (LNG) project in Western Australia. The integrated control system will streamline production, improve operational efficiency and safety, and provide data from subsystems throughout the facility to aid operator decision making. Transportation Systems -- Sales were up 6%, compared with the first quarter of 2007, driven by the favorable impact of foreign exchange and increased sales in our Turbo Technologies business. -- Segment profit decreased 4%, while segment margin decreased by 130 bps to 11.7%, resulting from CPG volume declines, the impact of commodity inflation, and investments in product development to support future Turbo platforms. -- Turbo Technologies was awarded three contracts estimated at more than $183 million in revenue over the life of the programs. These include new technology solutions for passenger vehicle diesel engines and will be produced in Japan and Europe for export to European and U.S. markets beginning in 2009. -- Honeywell's turbochargers were featured on 28 new vehicles - with engines ranging from 1.1 to 4.4 liters - at the 78th International Motor Show of Geneva in March. The company introduced its latest gasoline turbo technology on the new BMW X6. Specialty Materials -- Sales were up 18% compared with the first quarter of 2007, driven by growth in all businesses, particularly UOP, Resins and Chemicals, and Fluorine Products. -- Segment profit grew 38%, while segment margin increased by 280 bps to 18.8%, driven by pricing and productivity gains, which more than offset inflation. -- UOP plans to establish a natural gas processing design center in Kuala Lumpur, Malaysia, to better support the growing Southeast Asia market. The new design center will focus initially on executing projects involving UOP's Separex(TM) membrane systems, which are used to remove impurities from natural gas streams. -- Honeywell Performance Products will expand production of Aclar(R) film to meet growing demand for the clear, moisture-barrier material, which is used extensively in pharmaceutical packaging. An upgrade of existing production capabilities, combined with overall productivity improvements, is expected to boost Aclar production by up to 23% by the end of 2008.

    Honeywell will discuss its results during its investor conference call today starting at 8:00 a.m. EDT. To participate, please dial (706) 643-7681 a few minutes before the 8:00 a.m. start. Please mention to the operator that you are dialing in for Honeywell's investor conference call. The live webcast of the investor call will be available through the "Investor Relations" section of the company's Website (http://www.honeywell.com/investor). Investors can access a replay of the investor call starting at 11:00 a.m. EDT, April 18, until 11 p.m., April 25, by dialing (706) 645-9291. The access code is 39285103.

    Honeywell International is a $36 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London and Chicago Stock Exchanges. For additional information, please visit http://www.honeywell.com/.

    This release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

    Contacts: Media Investor Relations Robert C. Ferris Murray Grainger (973) 455-3388 (973) 455-2222 rob.ferris@honeywell.com murray.grainger@honeywell.com Honeywell International Inc. Consolidated Statement of Operations (Unaudited) (In millions except per share amounts) Three Months Ended March 31, ---------------------------- 2008 2007 --------- ---------- Product sales $7,156 $6,450 Service sales 1,739 1,591 --------- ---------- Net sales 8,895 8,041 --------- ---------- Costs, expenses and other Cost of products sold (A) 5,507 5,010 Cost of services sold (A) 1,165 1,140 --------- ---------- 6,672 6,150 Selling, general and administrative expenses (A) 1,255 1,089 Other (income) expense (22) (11) Interest and other financial charges 115 97 --------- ---------- 8,020 7,325 --------- ---------- Income before taxes 875 716 Tax expense 232 190 --------- ---------- Net income $643 $526 ========= ========== Earnings per share of common stock - basic $0.87 $0.66 ========= ========== Earnings per share of common stock - assuming dilution $0.85 $0.66 ========= ========== Weighted average number of shares outstanding-basic 743 795 ========= ========== Weighted average number of shares outstanding - assuming dilution 753 802 ========= ========== (A) Cost of products and services sold and selling, general and administrative expenses include amounts for repositioning and other charges, pension and other post-retirement expense, and stock compensation expense. Honeywell International Inc. Segment Data (Unaudited) (Dollars in millions) Net Sales Three Months Ended March 31, ---------------------------- 2008 2007 --------- ---------- Aerospace $3,030 $2,840 Automation and Control Solutions 3,180 2,801 Specialty Materials 1,409 1,199 Transportation Systems 1,276 1,201 Corporate - - --------- ---------- Total $8,895 $8,041 ========= ========== Reconciliation of Segment Profit to Income Before Taxes Segment Profit Three Months Ended March 31, ---------------------------- 2008 2007 --------- ---------- Aerospace $563 $500 Automation and Control Solutions 328 274 Specialty Materials 265 192 Transportation Systems 149 156 Corporate (56) (43) --------- ---------- Total Segment Profit 1,249 1,079 Other income/ (expense) (A) 6 11 Interest and other financial charges (115) (97) Stock compensation expense (B), (C) (41) (24) Pension and other postretirement expense (B) (27) (74) Repositioning and other charges (B) (197) (179) --------- ---------- Income before taxes $875 $716 ========= ========== (A) Equity income/(loss) of affiliated companies is included in Segment Profit, on a prospective basis, commencing January 1, 2008. Other income/(expense) as presented above includes equity income/(loss) of affiliated companies of ($2) million for the three months ended March 31, 2007. (B) Amounts included in cost of products and services sold and selling, general and administrative expenses. (C) Costs associated with restricted stock units ("RSU") are excluded from Segment Profit, on a prospective basis, commencing January 1, 2008. Stock compensation expense, including RSU expense, totaled $39 million for the three months ended March 31, 2007. Stock option expense is included for all periods presented. Honeywell International Inc. Consolidated Balance Sheet (Unaudited) (Dollars in millions) March 31, December 31, 2008 2007 --------- ---------- ASSETS Current assets: Cash and cash equivalents $2,234 $1,829 Accounts, notes and other receivables 6,604 6,387 Inventories 4,149 3,861 Deferred income taxes 1,338 1,241 Other current assets 418 367 --------- ---------- Total current assets 14,743 13,685 Investments and long-term receivables 522 500 Property, plant and equipment - net 5,012 4,985 Goodwill 9,251 9,175 Other intangible assets - net 1,492 1,498 Insurance recoveries for asbestos related liabilities 1,007 1,086 Deferred income taxes 676 637 Prepaid pension benefit cost 1,268 1,256 Other assets 973 983 --------- ---------- Total assets $34,944 $33,805 ========= ========== LIABILITIES AND SHAREOWNERS' EQUITY Current liabilities: Accounts payable $4,097 $3,962 Short-term borrowings 62 64 Commercial paper 896 1,756 Current maturities of long-term debt 518 418 Accrued liabilities 5,759 5,741 --------- ---------- Total current liabilities 11,332 11,941 Long-term debt 6,576 5,419 Deferred income taxes 952 734 Postretirement benefit obligations other than pensions 2,012 2,025 Asbestos related liabilities 1,419 1,405 Other liabilities 3,017 3,059 Shareowners' equity 9,636 9,222 --------- ---------- Total liabilities and shareowners' equity $34,944 $33,805 ========= ========== Honeywell International Inc. Consolidated Statement of Cash Flows (Unaudited) (Dollars in millions) Three Months Ended March 31, --------------------------- 2008 2007 --------- ---------- Cash flows from operating activities: Net income $643 $526 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 217 200 Repositioning and other charges 197 179 Net payments for repositioning and other charges (21) (132) Pension and other postretirement expense 27 74 Pension and other postretirement benefit payments (61) (45) Stock compensation expense 41 24 Deferred income taxes 108 17 Excess tax benefits from share based payment arrangements (7) (8) Other 45 6 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts, notes and other receivables (224) (136) Inventories (289) (161) Other current assets (35) 36 Accounts payable 135 65 Accrued liabilities (55) (67) --------- ---------- Net cash provided by operating activities 721 578 --------- ---------- Cash flows from investing activities: Expenditures for property, plant and equipment (150) (120) Proceeds from disposals of property, plant and equipment 12 33 Decrease in investments 6 - Cash paid for acquisitions, net of cash acquired (55) (13) Proceeds from sales of businesses, net of fees paid - 9 Other (2) - --------- ---------- Net cash used for investing activities (189) (91) --------- ---------- Cash flows from financing activities: Net (decrease)/increase in commercial paper (860) 328 Net (decrease)/increase in short-term borrowings (3) 3 Proceeds from issuance of common stock 51 119 Proceeds from issuance of long-term debt 1,487 988 Payments of long-term debt (225) (398) Excess tax benefits from share based payment arrangements 7 8 Repurchases of common stock (441) (1,186) Cash dividends paid on common stock (204) (199) --------- ---------- Net cash used for financing activities (188) (337) --------- ---------- Effect of foreign exchange rate changes on cash and cash equivalents 61 4 --------- ---------- Net increase in cash and cash equivalents 405 154 Cash and cash equivalents at beginning of period 1,829 1,224 --------- ---------- Cash and cash equivalents at end of period $2,234 $1,378 ========= ========== Honeywell International Inc. Reconciliation of Cash Provided by Operating Activities to Free Cash Flow (Unaudited) (Dollars in millions) Three Months Ended March 31, -------------------------- 2008 2007 --------- --------- Cash provided by operating activities $721 $578 Expenditures for property, plant and equipment (150) (120) --------- --------- Free cash flow $571 $458 ========= ========= We define free cash flow as cash provided by operating activities, less cash expenditures for property, plant and equipment. We believe that this metric is useful to investors and management as a measure of cash generated by business operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, and to pay dividends, repurchase stock, or repay debt obligations prior to their maturities. This metric can also be used to evaluate our ability to generate cash flow from business operations and the impact that this cash flow has on our liquidity.

    Honeywell

    CONTACT: Media, Robert C. Ferris, +1-973-455-3388,
    rob.ferris@honeywell.com; Investors, Murray Grainger, +1-973-455-2222,
    murray.grainger@honeywell.com, both of Honeywell

    Web site: http://www.honeywell.com/
    http://www.honeywell.com/investor




    Telanetix Continues to Gain Traction in Targeted Vertical MarketsIP Solutions Provider Extends Momentum in the Financial Services and Medical Industries

    SAN DIEGO, April 18 /PRNewswire-FirstCall/ -- Telanetix, Inc. (OTC BB: TNXI), a leading IP solutions provider offering telepresence and VoIP services to the SMB and SME markets, today announced key account wins for its Digital Presence telepresence technology in two vertical markets that the company targets: financial services and medical industries.

    "The financial services and medical industries are markets which are particularly well suited for Telanetix's Digital Presence technology," said Bob Leggio, Telanetix vice president of sales. "A key differentiator for us within these verticals is that our data platform allows customers to use their own native applications, in their original format, at the same time they are having a telepresence session."

    The unique configurations that Telanetix has produced for the financial and medical markets provide users with a full suite of telepresence capabilities, in addition to the ability to add proprietary data elements.

    Capabilities Include: -- Telanetix's medical industry products allows physicians to meet with patients in remote locations in a face-to-face environment with the ability to see all of the patient's medical data, such as ultrasounds, MRI results and x-rays, in real time and in full resolution, as if the patient and physician were in the same room. -- Telanetix's financial configuration provides real-time financial and trading information from remote locations in addition to the telepresence technology.

    "We've identified the medical and financial industries as key drivers of growth for Telanetix," said Tom Szabo, Telanetix chief executive officer. "As we move forward, the flexibility of our offerings will allow us to continue the momentum in these markets, while adding additional focus on other segments of business."

    Telanetix began accepting orders in March for telepresence systems designed for both the financial and medical industries.

    About Telanetix, Inc.

    Telanetix is a leading IP solutions provider offering telepresence and advanced communication services to the SMB and SME markets. By leveraging on ubiquitous network infrastructures, Telanetix's solutions meet the real-world communications demands of its customers. The company's core technologies include a Telepresence offering, called Digital Presence(TM), designed to create fully immersive and interactive meeting environments that incorporate voice, video and data from multiple locations into a single environment; and IP enabled enhanced services that give companies flexible calling solutions at a fraction of the price of traditional telecom providers. Additional information can be found at the Telanetix corporate website, http://www.telanetix.com/.

    Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The companies undertake no obligation to publicly release statements made to reflect events or circumstances after the date hereof.

    Telanetix, Inc.

    CONTACT: Company, Rick Ono of Telanetix Inc., +1-858-362-2250,
    rick@telanetix.com; or investor relations, Jim Blackman of PR Financial
    Marketing, +1-713-256-0369, jim@prfmonline.com; or media, Todd Barrish of
    Dukas PR, +1-212-704-7385, todd@dukaspr.com, both for Telanetix Inc.

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




    High-Precision GNSS Positioning Launched in Madrid With Trimble VRS Now Service

    SUNNYVALE, Calif., April 18 /PRNewswire-FirstCall/ -- Trimble announced the launch of Trimble(R) VRS Now(TM) Service in Madrid, Spain. The commercial service provides surveyors, civil engineers and geospatial professionals in the area with instant access to real-time kinematic (RTK) Global Navigation Satellite System (GNSS) corrections without the need for a base station.

    The Trimble service delivers centimeter-level RTK positioning customized for each GNSS receiver's location anywhere in the network. The Trimble VRS Now Service supplies fast and accurate GNSS positioning for a variety of applications including surveying, urban planning, urban and rural construction, environmental monitoring, resource and territory management, disaster prevention and relief, and scientific research.

    Service in Madrid is a continuation of Trimble's focus on simplifying access to high-precision corrections around the world. Similar services are operating across Germany, Great Britain, Ireland, Northern Ireland, and also in Colorado in the U.S. The systems have been developed for easy use and for a wide range of user applications. Rigorous testing for reliability and accuracy ensures high-quality performance on an ongoing basis.

    Trimble VRS Now provides service to subscribers, utilizing a network of reference stations, which covers approximately 28,900 square kilometers (11,160 square miles) across the greater Madrid area. Users connect into the system using a wireless connection; the software acknowledges the users' field positions and provides a stream of correction data that enable centimeter accuracy throughout the network.

    Trimble VRS Now represents a major advance in precision surveying productivity. No longer dependant on a field base station, precision GNSS surveys can be up and running in minutes. And without the need for base station hardware, the user's GNSS receivers can now work independently as rovers-saving time and money.

    A subscription to Trimble VRS Now, a GNSS rover, and mobile phone is all a user needs to begin surveying or collecting data with Trimble precision. Surveyors and other users can switch on their receiver and real-time corrections will be available in seconds. In most cases, no further GNSS investment is necessary. Trimble VRS Now works with many GNSS survey instruments from a variety of manufacturers.

    For more information visit: http://www.trimble.com/VRSNow.shtml. About Trimble's Engineering and Construction Business

    Trimble, a world leader in GPS, construction lasers, robotic total stations and machine control solutions, is creating a broad range of innovative solutions that changes the way construction work is done. The Engineering and Construction business of Trimble is focusing on the development of technology and solutions in the core areas of surveying, construction and infrastructure. From concept to completion, Trimble's integrated systems streamline jobs and improve productivity.

    About Trimble

    Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location-including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978 and headquartered in Sunnyvale, Calif., Trimble has a worldwide presence with more than 3,600 employees in over 18 countries.

    For more information, visit: http://www.trimble.com/.

    GTRMB

    Trimble

    CONTACT: Investors, Willa McManmon
    , +1-408-481-7838,
    investor_relations@trimble.com, or Media, Lea Ann McNabb,
    +1-408-481-7808,
    leaann_mcnabb@trimble.com, both of Trimble

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




    Trimble GCS900 Grade Control System Allows Even Faster Grading Without Sacrificing Accuracy

    SUNNYVALE, Calif., April 18 /PRNewswire-FirstCall/ -- Trimble today introduced its Trimble(R) GCS900 Grade Control System version 10.8, which provides automatic blade control, configurable earthworks progress monitoring and blade guidance software on the machine to enable operators to be more efficient and productive. The new version allows earthworks operators to visualize, construct and balance road surfaces more accurately and faster, in higher gears.

    The enhancements to the GCS900 Grade Control System reinforce Trimble's leadership in providing the broadest portfolio of solutions for the heavy and highway contractor. GCS900 is a leading modular grade control system for applications ranging from mass excavation to finished grade earthworks and compaction. The latest version of the system can improve contractor productivity by providing operators with better information faster, and by offering more control to machine operators on site.

    Automatic Blade Control Performance Enhancements for Dozers

    With version 10.8, the Trimble GCS900 has optimized automatic blade control settings for dozers. Working closely with multiple equipment manufacturers, Trimble has developed specialized interface settings that optimize hydraulic performance on the dozer when the Trimble GCS900 Grade Control System is automatically controlling the dozer blade. No additional sensors or expensive hardware add-on kits are required to achieve this level of automatic performance. This performance allows the operator to grade, not just simple pads and slopes, but complex design surfaces and alignments at faster speeds, without sacrificing grade control accuracy or quality of the final graded surface.

    New On-machine Software Enhancements

    The Trimble GCS900 version 10.8 on-machine software offers enhancements to the operator configurable software, including improved earthworks progress information and configurable blade guidance options.

    Operators can grade to cut / fill maps representing the total earthworks progress on the job site, generated from the Trimble SiteVision(R) Office Productivity Module. These cut / fill maps are generated from productivity data collected from each machine equipped with Trimble GCS900 and represent the total earthworks progress on the job site. As machines work, the cut / fill maps are updated. The data can be transferred back to the office at the end of a shift, reprocessed and transferred back to the machines at the start of the next shift. Operators of all abilities can benefit from this new capability by immediately visualizing target areas that require further excavation to get to design grade, anywhere on the jobsite.

    New blade tip guidance options display enhanced real-time guidance information to the operator. The operator can configure custom guidance to multiple road elements from each blade tip, as the machine travels across the design. These new custom guidance blade tip guidance options allow the operator to configure the system to suit the needs of any fine grade application and provide even more in-cab real-time guidance information for high accuracy grade control capability.

    The Trimble GCS900 Grade Control System version 10.8 is expected to be available in April 2008 through the Trimble worldwide construction distributor network.

    About Trimble's Construction Business

    Trimble's Construction Division is a leading innovator of productivity solutions for both the heavy and highway contractor and the building construction contractor. Trimble's solutions leverage a variety of technologies, including Global Positioning System (GPS), construction lasers, total stations, wireless data communications, the Internet, and application software. As part of the Trimble Connected Site strategy, these solutions provide a high-level of process and workflow integration from the design phase through to the finished project-delivering significant improvements in productivity throughout the construction lifecycle.

    About Trimble

    Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location-including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978 and headquartered in Sunnyvale, Calif., Trimble has a worldwide presence with more than 3,600 employees in over 18 countries.

    For more information Trimble's Web site at http://www.trimble.com/.

    GTRMB

    Trimble

    CONTACT: Investors, Willa McManmon
    , +1-408-481-7838,
    investor_relations@trimble.com, or Media, Lea Ann McNabb, +1-408-481-7808,
    leaann_mcnabb@trimble.com, both of Trimble

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




    Manpower Software plc Implements its MAPS Maritime Solution Onboard the New P&O Cruise Ship `Ventura'

    LONDON, April 18 /PRNewswire/ -- Manpower Software plc, a leading provider of workforce optimisation solutions, is pleased to announce that the new P&O cruise ship, Ventura, will be using MAPS Maritime Suite to provide operational efficiencies across crew scheduling.

    Ventura is the latest addition to the P&O Cruise fleet and will launch its service this week in Southampton. The Ventura will set a new standard in 21st century cruising introducing new features, more choice and new experiences for her passengers. Weighing in at 115,000 tonnes, with a 3,600 passenger capacity, it is the largest superliner built for the British market.

    MAPS Maritime Suite has been in use in the maritime industry for some time in cruise and shipping lines. It has a proven track record in delivering innovative workforce optimisation solutions to Carnival Corporation cruise brands, including Princess Cruises, Cunard, Ocean Village and P&O Cruises. The solution will allow for effective planning of crew rotations for 1,200 crew and ensure all paperwork for immigration is in order on arrival and departure at ports of call.

    Commenting on the announcement, Crispin Jessop, Manpower Software's Account Director for Maritime said: "We are delighted P&O Cruises, who has been a customer since 1999, chose Manpower Software's MAPS Maritime Suite for optimising onboard personnel on Ventura and wish her well for her future maiden voyage."

    About Manpower Software

    Manpower Software plc, founded in 1991, is a proven world-class provider of strategic workforce optimisation solutions, with an enviable reputation for delivering high quality products and services. Manpower Software focuses on helping organisations manage their staff resources and control operational costs through effective workforce planning, scheduling and analysis. Major solutions include: MAPS Health, MAPS Defence and MAPS Maritime Suites which are used by some of the world's largest and most complex organisations to manage their workforce more effectively, making sure the right people, are in the right place, at the right time. The company is a British public company listed on the UK AIM stock market. It is headquartered in London with the US subsidiary, Manpower Software Inc, based in Miami, Florida. From these locations Manpower Software and its partners are able to deliver first-class service and support to their international client base in Europe, North America and Asia Pacific.

    For additional information please visit our website at http://www.manpowersoftware.com

    Manpower Software plc Enquiries: Crispin Jessop Account Director Maritime Tel: +44(0)20-7389-9500 cjessop@manpowersoftware.com Ciara Matthews Marketing Manager Tel: +44(0)20-7389-9531 cmatthews@manpowersoftware.com

    Manpower Software PLC

    Manpower Software plc Enquiries: Crispin Jessop - Account Director - Maritime Tel: +44(0)20-7389-9500, cjessop@manpowersoftware.com; Ciara Matthews - Marketing Manager, Tel: +44(0)20-7389-9531, cmatthews@manpowersoftware.com




    DIRECTV to Purchase Installation Fulfillment Services Company 180 Connect Inc. to Gain Control of a Significant Portion of the DIRECTV Installation NetworkIn a Separate Transaction, UniTek USA will Acquire 100% of 180 Connect's Cable Assets and Certain DIRECTV Installation Markets In Exchange for UniTek's Satellite Installation Services in Three Markets and Cash180 Connect and UniTek Deals to Close in Third Quarter 2008Stock Symbols: OTCBB: CNCT.OB, CNCTU.OB, CNCTW.OB

    TORONTO and ENGLEWOOD, CO, April 18 /PRNewswire-FirstCall/ -- 180 Connect Inc. ("180 Connect" or the "Company") (OTCBB: CNCT.OB, CNCTU.OB, CNCTW.OB), one of North America's largest providers of installation, integration and fulfillment services to the home entertainment, communication, and home integration service industries has signed a definitive merger agreement with DIRECTV, Inc. ("DIRECTV"), the nation's leading satellite television service. Under the terms of the agreement, DIRECTV will acquire 100% of 180 Connect's outstanding common stock and exchangeable shares for $1.80 per share. Including the assumption of the Company's debt outstanding the implied enterprise value of the transaction is approximately $105 million. The transaction will provide DIRECTV with control over a significant portion of its installation and home service network and is expected to close third quarter 2008.

    Based upon the unanimous recommendation of a special committee of the board comprised entirely of independent directors, the board of directors of 180 Connect has unanimously approved the merger agreement and has resolved to recommend that 180 Connect stockholders adopt the merger agreement and approve the acquisition. The Board of Directors of 180 Connect has received a fairness opinion from its financial advisor, William Blair & Company, L.L.C.

    In a separate transaction, immediately following the acquisition of 180 Connect, UniTek USA, LLC ("UniTek") has agreed to acquire 100% of 180 Connect's cable services operating unit and certain DIRECTV installation services from DIRECTV, in exchange for UniTek's satellite installation services in New York, Burbank, California and Bloomington, California and cash.

    By acquiring 180 Connect, DIRECTV will gain control of one of its largest installation and home service providers in 45 U.S. market locations, throughout California, Colorado, Oregon, Washington, Utah, Montana, Idaho, Wyoming, Arkansas, Virginia, Hawaii and Western Pennsylvania. Prior to the acquisition, DIRECTV had outsourced all its installation service operations through 13 home service provider companies.

    "DIRECTV has been a valued partner in helping us grow our business over the years and they were instrumental in working with us to develop our industry leading customer service platform," stated Peter Giacalone, President and Chief Executive Officer of 180 Connect. "Over the years, 180 Connect has experienced significant growth and while the Company believes it has been successful in achieving many of its goals and positioning itself to become a dominant sector player, these efforts are not, in our opinion, being appropriately valued by the public markets. After carefully evaluating alternative strategies, we concluded that in the current and foreseeable market conditions, the sale of the Company represents a compelling opportunity to realize value for the shareholders of 180 Connect. We are very pleased to have found the right buyer for the Company and are confident that industry leading DIRECTV will take this business to the next level."

    Under the terms of the merger agreement, the board of directors of 180 Connect, through its special committee and with the assistance of its independent advisors, intends to solicit superior proposals during the next 30 days. 180 Connect does not intend to disclose developments with respect to the solicitation process unless and until the special committee of the board has made a recommendation and the board of directors has made a decision with respect to any superior proposals.

    Conference Call Information

    180 Connect will host a conference call to discuss the transaction. The call will begin at 8:00 a.m. EST, Friday, April 18, 2008. The dial-in numbers for the call are international dial 617.213.8897 and toll free at 866.543.6405, participant pass code is 15490136. A taped rebroadcast of the teleconference will be available upon completion of the call on April 18, 2008 at 10:00 a.m. EST to April 25, 2008 until 11:59 p.m. EST. The replay dial-in numbers are international dial 617.801.6888 and toll free at 888.286.8010, participant pass code is 84330834. The webcast will be archived on 180 Connect's website at http://www.180connect.net/.

    About 180 Connect Inc.

    180 Connect Inc. is one of North America's largest providers of installation, integration and fulfillment services to the home entertainment, communications and home integration service industries. With more than 4,000 skilled technicians and 750 support personnel based in over 85 operating locations, 180 Connect is well positioned as the only pure play national residential service provider in the market. 180 Connect shares are traded under the name of 180 Connect Inc. on the OTCBB under the symbols CNCT.OB, CNCTU.OB and CNCTW.OB. For more information about 180 Connect Inc, please visit http://www.180connect.net/.

    About DIRECTV, Inc.

    DIRECTV, Inc. , the nation's leading satellite television service provider, presents the finest television experience available to more than 16.8 million customers in the United States and is leading the HD revolution with 95 national HD channels - more quality HD channels than any other television provider. Each day, DIRECTV subscribers enjoy access to over 265 channels of 100% digital picture and sound, exclusive programming, industry-leading customer satisfaction (which has surpassed cable for seven years running) and superior technologies that include advanced DVR and HD-DVR services and the most state-of-the-art interactive sports packages available anywhere. For the most up-to-date information on DIRECTV, please visit http://www.directv.com/.

    About UniTek USA, LLC

    UniTek USA, LLC, is a premier provider of engineering construction management and installation fulfillment services to companies specializing in the telecommunications, broadband cable, cellular and satellite industries. UniTek has created a scalable operating platform, enabling each UniTek subsidiary to deliver quality services to its Fortune 100 customers. UniTek USA, LLC, based in Blue Bell, PA utilizes a diverse workforce of over 3500 technicians deployed throughout the United States. For more information about UniTek, please visit http://www.unitekusa.net/.

    Important Additional Information will be Filed with the SEC

    In connection with the proposed merger, 180 Connect will file a proxy statement with the Securities and Exchange Commission. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE, BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER AND THE PARTIES THERETO. Investors and security holders may obtain a free copy of the proxy statement (when available) and other documents filed by 180 Connect at the Securities and Exchange Commission's Web site at http://www.sec.gov/. The proxy statement and such other documents may also be obtained for free from 180 Connect by directing such request to 180 Connect Inc., 6501 E. Belleview Avenue Englewood, Colorado 80111, Attention: Chief Financial Officer.

    Participants in the Solicitation

    180 Connect and its directors, executive officers and other members of its management and employees may be deemed to be participants in the solicitation of proxies from its stockholders in connection with the proposed merger. Information concerning the interests of 180 Connect's participants in the solicitation, which may be different than those of 180 Connect stockholders generally, is set forth in 180 Connect's proxy statements and Annual Reports on Form 10-K, previously filed with the Securities and Exchange Commission, and in the proxy statement relating to the merger when it becomes available.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements based on current 180 Connect management expectations. Those forward-looking statements include all statements other than those made solely with respect to historical fact. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statements. The following factors, among others, including those contained in 180 Connect's filings with the SEC, including its Annual Report on Form 10-K for its most recent fiscal year, especially in the Management's Discussion and Analysis section and its Current Reports on Form 8-K, could also cause actual results to differ materially from those described in the forward-looking statements: the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the outcome of any legal proceedings that may be instituted against 180 Connect and others following announcement of the merger agreement; the inability to complete the merger due to the failure to obtain stockholder approval or the failure to satisfy other conditions to completion of the merger; risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the merger; the ability to recognize the benefits of the merger; and, the amount of the costs, fees, expenses and charges related to the merger. Many of the factors that will determine the outcome of the subject matter of this press release are beyond 180 Connect's ability to control or predict. 180 Connect undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

    180 Connect Inc.

    CONTACT: please contact the following or visit 180 Connect's website at
    http://www.180connect.net/.; Claudia A. Di Maio, 180 Connect Inc., TEL: (866)
    995-8888, DIRECT LINE: (416) 930-7710, EMAIL: cdimaio@180connect.net; Devlin
    Lander, Integrated Corporate Relations, TEL.: (415) 292-6855




    Ninetowns Reports Goodwill Impairment Charge for Fiscal Year 2007

    BEIJING, April 18 /Xinhua-PRNewswire/ -- Ninetowns Internet Technology Group Company Limited ("Ninetowns" or the "Company"), one of China's leading providers of online solutions for international trade, announced today that in conjunction with its annual testing for the impairment of long-lived assets and goodwill in accordance with relevant accounting standards, the Company expects to record a non-cash impairment charge of up to RMB197 million against its long-lived assets and goodwill. Of this impairment, a significant amount is expected to be charged against goodwill that was derived from the acquisition of minority interests in the Company's business-to-government ("B2G") business during its pre-IPO restructuring in June 2004.

    The Company is now in the process of finalizing the annual testing with its advisors, including an independent third-party valuation specialist. The Company does not expect the non-cash impairment charge to have an adverse impact on its current cash position, current cash flows from operating activities, nor to have an adverse impact on future cash expenditures.

    Mr. Tommy Fork, Chief Financial Officer of Ninetowns, commented, "Our financial outlook from maintenance servicing of the free software offered by the Chinese government has been negatively impacted due to several factors. First, the Chinese government's declining promotion of its free software has resulted in a corresponding decline in the need for our maintenance services. Additionally, we believe there is uncertainty surrounding the Chinese government's future promotional plans for its free software. As a result, we decided to revise the financial performance assumptions of our B2G segment by taking a realistic approach in assessing the goodwill in connection with our pre-IPO consummated acquisitions."

    About Ninetowns Internet Technology Group Company Limited

    Ninetowns is the leading provider of online solutions for international trade, with its key services in automating import/export e-filing, as well as in providing effective and efficient business-to-business search. Ninetowns has been listed on the NASDAQ Stock Exchange since December 2004 under the symbol "NINE." More information can be found at http://www.ninetowns.com/english .

    Forward-looking Statements

    Certain statements in this press release, including statements relating to the expected non-cash impairment charge and the Chinese government's future promotional plans for its free software, include forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "project" or "continue" or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but not limited to, customer acceptance and market share gains, competition from companies that have greater financial resources; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; the ability to recruit and retain quality employees as the Company grows; and economic and political conditions globally. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.

    For more information, please contact: Helen Wu Investor Relations Ninetowns Internet Technology Group Company Limited Tel: +86-10-6584-9901 Email: ir@ninetowns.com Investor Relations (US): Mahmoud Siddig, Director Taylor Rafferty Tel: +1-212-889-4350 Email: ninetowns@taylor-rafferty.com Investor Relations (HK): Ruby Yim, Managing Director Taylor Rafferty Tel: +852-3196-3712 Email: ninetowns@taylor-rafferty.com

    Ninetowns Internet Technology Group Company Limited

    CONTACT: Helen Wu, Investor Relations of Ninetowns Internet Technology
    Group Company Limited, +86-10-6584-9901, or ir@ninetowns.com; Investor
    Relations (US) - Mahmoud Siddig, Director of Taylor Rafferty, +1-212-889-4350,
    or ninetowns@taylor-rafferty.com; Investor Relations (HK) - Ruby Yim, Managing
    Director of Taylor Rafferty, +852-3196-3712, or
    ninetowns@taylor-rafferty.com

    Web site: http://www.ninetowns.com/english




    STS Group Résultat 1er trimestre 2008 : Doublement d'Activité

    RUEIL, France, April 18 /PRNewswire/ --

    - Résultats trimestriels supérieurs aux prévisions (comptes consolidés non certifiés)

    K EUR 1er T 1er T Réel Prévision 2008 % 2007 % 2007 % 2008 % Chiffres d'affaires 4 018 100 1 948 100 11 237 100 19 600 100 Résultat avant impôt 1 719 43 1 125 57 4 121 37 7 300 37 Résultat net 1 119 28 925 47 3 526 31 4 900 25

    Le chiffre d'affaires du 1er trimestre 2008 est en doublement comparé à celui du 1er trimestre 2007. Ce dernier n'incorporait pas les acquisitions réalisées dans le courant de l'exercice 2007 : à périmètre comparable la croissance organique est de 45%, légèrement supérieure à l'hypothèse retenue de 40% pour la construction du chiffre d'affaires prévisionnel 2008.

    La rentabilité du 1er trimestre 2008, avant impôt sur les sociétés, rapportée au chiffre d'affaires s'établit à 43%. Le périmètre de consolidation ne comprenait pas à l'époque l'activité de Professional Services achetée en juillet dernier à LOGON. Cette activité qui s'est très bien intégrée est un département indispensable à tout éditeur de logiciel voulant comme STS se développer et dégage un taux de profitabilité en progression constante mais inférieur à celui de l'activité pure d'éditeur de logiciel. Ce taux de résultat avant impôt de 43% marque une progression très nette par rapport à celui de 37% affiché sur l'exercice 2007. Ce pourcentage de 37% est par ailleurs celui retenu pour la détermination de la rentabilité avant impôt prévisionnelle de 2008.

    La société est désormais fiscalisée au taux normal de l'impôt sur les sociétés ce qui n'était pas encore le cas au cours du 1er trimestre 2007.

    Le développement des partenariats stratégiques que nous enregistrons permet de penser que l'objectif 2008 sera atteint.

    Leader de l'Archivage Electronique Légal en Europe depuis 2000, STS Group est un éditeur de logiciels au modèle 100% variable. La distribution de son logiciel STS.net est entièrement assurée par ses partenaires : grandes SSII, intégrateurs, éditeurs spécialisés, hébergeurs, FAI, etc. Ce modèle permet à STS d'accéder directement aux clients les plus prestigieux, et de développer ses ventes sans être freiné par sa capacité commerciale.

    Avec un chiffre d'affaires de 11,3 moEUR en 2007 pour un résultat net de 3,52 moEUR, STS Group affiche plus de 250 clients grands comptes.

    STS Group est coté en Bourse, au Marché Libre, depuis novembre 2005 (codes MLSTS - FR0010173518).

    Attention : La Société rappelle que ces actions ne sont pas cotées sur un Marché Réglementé et qu'elle n'a pas le statut d'Emetteur faisant appel à l'épargne publique. La dernière augmentation de capital n'a pas fait l'objet de l'enregistrement d'une note d'opération portant visa de l'Autorité de Marchés Financiers.

    L'offre des actions s'est faite seulement auprès d'investisseurs qualifiés agissant pour leur propre compte au sens de l'Article L.411-2 du Code Monétaire et Financier

    http://www.group-sts.com

    Contact : Bernard Calvignac, Président, bernard.calvignac@group-sts.com ; Agence de Presse : Bernard MOAL, bmoal@itgspr.fr , tel +33(0)1-58-88-39-59.

    STS Group

    Contact : Bernard Calvignac, Président, bernard.calvignac@group-sts.com ; Agence de Presse : Bernard MOAL, bmoal@itgspr.fr , tel +33(0)1-58-88-39-59.




    iGATE Reports 2008 First-Quarter ResultsContinued Strong Earnings Growth Drives iGATE Forward

    PITTSBURGH, April 18 /PRNewswire-FirstCall/ -- iGATE Corporation, , an integrated technology and operations (iTOPS) company, today announced its first-quarter 2008 financial results under US GAAP for the three months ended March 31, 2008.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20010110/IGTELOGO ) Highlights for the quarter -- Diluted earnings from continuing operations of $0.13 per share, an increase of 57% from the corresponding quarter last year and an increase of 46% from the previous quarter -- Revenue from operations of $54.9 million in iGATE Solutions segment, an increase of 4% sequentially and 15% year-on-year -- Consolidated revenue from continuing operations of $79.8 million, an increase of 7% from the same period last year and an increase of 1% from the last quarter -- Net employees added during the quarter is 307 taking the total to 6,566 as of March 31, 2008 in iGATE Solutions segment and taking the company total to 7,317 -- 7 new customers added during the quarter in iGATE Solutions segment -- iGATE announced its plan to divest its Professional Services business. Presently, it looks more likely that this divestiture will take the form of a spin-off rather than a sale. Consequently, the Professional Services segment is still being reported as continuing operations as required by US GAAP.

    "iGATE solutions business reported another good growth quarter. Many of our existing customers are scaling business with us and increasing their engagement levels with us. On another positive note, we added seven new customers this quarter, including major wins that can help grow our iTOPS revenue. We believe that these wins will have both revenue and improved margin impact for our business going forward," said Phaneesh Murthy, Chief Executive Officer of iGATE Corporation.

    "Our gross margins increased due to increase in higher margin revenues, improved bill rates and reduction in attrition rates. We have delivered strong margin growth this quarter and will continue to focus on earnings growth through improving revenue quality and operational efficiencies," said Ramachandran Natesan, Chief Financial Officer of iGATE Corporation.

    Operating results iGATE Solutions

    Revenues for the quarter increased to $54.9 million compared to $47.9 million in the same period last year and $52.8 million in the previous quarter. Gross profit margin increased to 37% from 32% in the corresponding quarter last year and from 35% in the previous quarter. The improvement in margin is due to increase in the contribution from higher margin customers, improved average realizations and a reduction in attrition rates.

    Operating income has increased to $6.7 million from $4.3 million in the same period last year and $6.5 million in the previous quarter. Operating margin has gone up to 12% of revenue from 9% in the corresponding quarter.

    iGATE Professional Services

    Revenues for the quarter declined to $24.9 million compared to $27.0 million in the same period last year and $26.0 million in the previous quarter. Gross profit margin was at 20% compared to 23% in the corresponding quarter last year and 20% in the previous quarter.

    Operating income declined to $1.3 million from $2.2 million in the same period last year and $1.4 million in the previous quarter. Operating margin is at 5% of revenue.

    Overall

    Net income increased 71% year-on-year to $7.4 million, or $0.13 per diluted share, compared with net income of $4.3 million or $0.08 per diluted share in the same period last year and $4.9 million or $0.09 per diluted share in the previous quarter.

    During the quarter, the company generated operating cash flow of $7.3 million and ended the quarter with $56.5 million in cash and short-term investments.

    Key customer wins and significant projects executed

    iGATE entered into a multi-year multi-million dollar iTOPS deal with a government agency in Australia to provide bonds processing and administrative service. Besides cost savings the engagement helps the client enhance customer service by improving the time and quality of delivery.

    A major provider of risk assessment services for the Insurance industry selected iGATE to provide image processing, quality review, quality assurance and data capture services through an integrated technology platform which combines image capture and processing, document management and work flow.

    iGATE won a multi-year deal from a large Fortune 500 North American building materials manufacturer. As per the contract, iGATE will provide independent offshore ERP testing services for their Oracle Apps, legacy systems and associated third party installation.

    A leading processor of debit and credit card payments in North America has engaged iGATE to provide data migration, enrichment and analytics for their merchant records. The intention of the engagement is to provide cost effectiveness and scale of operations as per the varying needs of the customer.

    iGATE was selected as a strategic partner by an European health insurance firm to provide infrastructure services for their multiple data centers. The services include monitoring, administration and change projects in all areas of infrastructure domain.

    A leading North American financial conglomerate used the expertise of iGATE to develop an enterprise wide regulatory and compliance system that aggregates the proprietary and discretionary positions held to meet the reporting requirements of various regulatory bodies. iGATE is assisting the firm in creating centralized reporting of multi-location and multi- jurisdiction positions to reduce the risk of non-compliance.

    Significant events during the quarter -- iGATE was included in 2008 Global Services 100 list, a survey of the 100 best global services providers. -- iGATE set up a service delivery center in the city of Ballarat, State of Victoria, Australia, -- iGATE announced its plan to sell its Clinical Research business. The results of the Clinical Research business have been reported as discontinued operations in the quarter. The figures for previous periods have been reclassified accordingly. -- During the quarter, iGATE repurchased 1.6 million shares for $15.8 million of its subsidiary, iGATE Global Solutions ("iGS") as part of delisting it from Indian stock exchanges. Since the announcement of its intention to delist iGS in October 07, iGATE has purchased a total of 5.6 million shares for $58.0 million, increasing iGATE's total shareholding in the company to 98.2%. Conference Call and Webcast

    iGATE will host a telephonic conference call to discuss the company's first-quarter financial results at 8:00 a.m. Eastern Time (USA) on Friday, April 18, 2008. A live webcast of this conference call will be available on the website mentioned in the invite. The webcast will remain available for replay through April 21, 2008.

    About iGATE Corporation

    Pittsburgh, Pennsylvania-based iGATE Corporation is the first fully integrated technology and operations firm with a global service model. iGATE Corporation, through its subsidiary, iGATE Global Solutions Ltd., enables clients to optimize their business through a combination of process investment strategies, technology leverage and business process outsourcing and provisioning. Services include consulting, enterprise data management and data warehousing, business intelligence and analytics, design, development, systems integration, package evaluation, and implementation, re-engineering and maintenance. iGATE Corporation also offers IT Professional Services in the areas of packaged application implementation, custom development, web services and business intelligence.

    The company services more than 300 clients across the globe. Clients rely on iGATE because of the high quality of service, responsiveness, and cost- effective global reach. More information about iGATE is available at http://www.igate.com/investors.html.

    Forward-Looking Statements

    Some of the statements contained in this news release that are not historical facts are forward-looking statements. These forward-looking statements include the company's financial, growth and liquidity projections as well as statements concerning the company's plans, strategies, intentions and beliefs concerning business cash flows, costs and the markets in which it operates and the proposed divestiture of its Professional Services business. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects" and similar expressions are intended to identify certain forward- looking statements. These statements are based on information currently available to the company and it assumes no obligation to update the forward statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from the forward-looking statements. These risks include, but are not limited to, the company's ability to predict its financial performance, the level of market demand for its services, the highly-competitive market for the types of services offered by the company, the impact of competitive factors on profit margins, market conditions that could cause the company's customers to reduce their spending for its services, the company's ability to create, acquire and build new businesses and to grow existing businesses, attract and retain qualified personnel, reduce costs and conserve cash, currency fluctuations and market conditions in India and elsewhere around the world, political and military tensions in India and South Asia, changes in generally accepted accounting principles and/or their interpretation and other risks that are described in more detail in the company's filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2007.

    iGATE CORPORATION CONSOLIDATED CONDENSED BALANCE SHEETS (dollars in thousands) (unaudited) March 31, December 31, 2008 2007 * ASSETS Current assets: Cash and cash equivalents $21,726 $49,684 Short term investments 34,753 25,295 Accounts receivable, net 57,804 51,616 Prepaid and other current assets 7,537 10,248 Prepaid income taxes 30 894 Deferred income taxes 813 696 Current assets of discontinued operations 1,276 1,067 Total current assets 123,939 139,500 Investments in unconsolidated affiliates 51 1,005 Land, building, equipment and leasehold improvements, net 35,117 34,663 Deposits 2,467 2,148 Goodwill 42,571 35,989 Intangible assets, net 3,752 1,003 Noncurrent assets of discontinued operations 1,708 1,627 Total assets $209,605 $215,935 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $4,668 $6,090 Accrued payroll and related costs 16,653 18,502 Accrued income taxes 35 631 Other accrued liabilities 15,028 18,555 Restructuring reserve 763 1,058 Deferred revenue 1,618 536 Current liabilities of discontinued operations 703 510 Total current liabilities 39,468 45,882 Other long term liabilities 533 536 Deferred income taxes 6,824 7,114 Total liabilities 46,825 53,532 Minority interest 1,961 6,437 Shareholders' equity: Common Stock, par value $0.01 per share 547 546 Additional paid-in capital 167,118 165,757 Retained earnings (deficit) 1,382 (6,026) Common stock in treasury, at cost (14,714) (14,714) Accumulated other comprehensive income 6,486 10,403 Total shareholders' equity 160,819 155,966 Total liabilities and shareholders' equity $209,605 $215,935 * Certain amounts in previously issued financial statements were reclassified to conform to presentations for quarter ended March 31, 2008 iGATE CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (dollars and shares in thousands, except per share data) (unaudited) Three months ended Mar 31, 2008 Mar 31, 2007 Dec 31, 2007 Revenues $79,797 $74,917 $78,861 Cost of revenues 54,497 53,474 55,313 Gross margin 25,300 21,443 23,548 Selling, general and administrative 18,751 16,880 17,903 Restructuring charge - - 769 Income from operations 6,549 4,563 4,876 Other income, net 1,325 1,510 1,193 Minority interest (293) (895) (1,026) Gain on sale of stock of subsidiaries - - 136 Equity in (loss) income of affiliated companies (9) 49 (192) Income before income taxes 7,572 5,227 4,987 Income tax expense (benefit) 174 618 (44) Income from continuing operations 7,398 4,609 5,031 Income (loss) from discontinued operations, net of income taxes 10 (282) (176) Net income $7,408 $4,327 $4,855 Net earnings (loss) per common share, Basic: Earnings from continuing operations $0.14 $0.09 $0.09 Earnings (loss) from discontinued operations - (0.01) - Net earnings - Basic $0.14 $0.08 $0.09 Net earnings (loss) per common share, Diluted: Earnings from continuing operations $0.13 $0.09 $0.09 Earnings (loss) from discontinued operations - (0.01) - Net earnings - Diluted $0.13 $0.08 $0.09 Weighted average common shares outstanding, Basic 53,676 53,072 53,627 Weighted average dilutive common equivalent shares outstanding 54,927 53,633 54,443 iGATE CORPORATION OPERATING SEGMENT RESULTS (dollars in thousands) (unaudited) iGate iGate iGate Professional Shared Three Months Ended March 31, 2008 Solutions Services Services Total External revenues $54,875 $24,922 $- $79,797 Cost of revenues 34,511 19,986 - 54,497 Gross margin 20,364 4,936 - 25,300 Selling, general and administrative expenses 13,669 3,614 1,468 18,751 Income (loss) from operations $6,695 $1,322 (1,468) 6,549 Other income, net 1,325 1,325 Minority interest (293) (293) Equity in loss of affiliated companies (9) (9) (Loss) income before income taxes $(445) $7,572 iGate iGate iGate Professional Shared Three Months Ended March 31, 2007 Solutions Services Services Total External revenues $47,869 $27,048 $- $74,917 Cost of revenues 32,534 20,940 - 53,474 Gross margin 15,335 6,108 - 21,443 Selling, general and administrative expenses 11,017 3,936 1,927 16,880 Income (loss) from operations $4,318 $2,172 (1,927) 4,563 Other income, net 1,510 1,510 Minority interest (895) (895) Equity in income of affiliated companies 49 49 (Loss) income before income taxes $(1,263) $5,227 iGate iGate iGate Professional Shared Three months ended December Solutions Services Services Total 31, 2007 External revenues $52,817 $26,044 $- $78,861 Cost of revenues 34,366 20,947 - 55,313 Gross margin 18,451 5,097 - 23,548 Selling, general and administrative expenses 11,930 3,709 2,264 17,903 Restructuring charge - - 769 769 Income (loss) from operations $6,521 $1,388 (3,033) 4,876 Other income, net 1,193 1,193 Minority interest (1,026) (1,026) Gain on sale of stock of subsidiaries 136 136 Equity in loss of affiliated companies (192) (192) (Loss) income before income taxes $(2,922) $4,987

    Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Rathnam Subramanyam http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=75873

    Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010110/IGTELOGO
    AP Archive: http://photoarchive.ap.org/
    PRN Photo Desk, photodesk@prnewswire.com iGATE Corporation

    CONTACT: Subramanyam Rathnam, +1-510-402-7354,
    subramanyam.rathnam@igate.com, or Investors, Salil Ravindran, +1-510-229-2060,
    salil.ravindran@igate.com, both of iGATE Corporation

    Web site: http://www.igate.com/
    http://www.igate.com/investors.html




    Legend Silicon Releases 3rd Generation DTV Demodulator Chip

    Taps SMIC Process for New Improvements to China's High-definition DTV Era

    SHANGHAI, China, April 17 /Xinhua-PRNewswire-FirstCall/ -- Legend Silicon Corp., the leading silicon solution company for digital broadcasting and broadband wireless communications, recently announced a new, all-mode DTV demodulator chip for China's latest DTV standards. This chip, a 3rd generation all-mode product, becomes the most functional and complete all-mode chip currently on the market.

    With its industry-leading single-carrier and multi-carrier performance, the LGS-8G52 is the first and most ideal 2-in-1 chip solution on the Chinese DTV market. In addition to its various carrier features, this chip allows system solutions to be smaller, more elegant, and more cost-efficient. Fully compliant with the China Digital Television Terrestrial Broadcasting System Standard (GB20600-2006), the LGS-8G52 was created with advanced process technology. Utilizing Semiconductor Manufacturing International Corp.'s one- stop service, the LGS-8G52 surpasses the previous two generations of products with its flawless support of HD/SD TV and other multimedia-based services, and is ideal for use with integrated Digital Television (iDTV) and set-top-boxes (STB).

    ''As was the case with the previous two generations of products, the LGS-8G52 was the result of a comprehensive commitment to improvement and enhancement,'' said Dr. Dong Hong, Vice Chairman and Chief Strategy Officer of Legend Silicon Corp. ''However, the LGS-8G52, which functions as a single-carrier or multi-carrier chip, was manufactured by a much more advanced process technology. Thanks to SMIC's advanced technologies and excellent IP, we were able to achieve high yields and lower costs and thus the capability to meet all kinds of end customers' needs.''

    Esther Liu, Vice President, Marketing & Sales of SMIC, said, ''Congratulations to Legend Silicon on its successful release of the national standard 2-in-1 chip. We were glad to cooperate with Legend Silicon in its effort to industrialize China's DTV standard. Moreover, we were pleased to be able to provide the product in a timely manner in order to meet international technology trends and market demands. We believe that the LGS-8G52 will be a leading-edge device for a wide range of end-customers seeking to improve their positions in the DTV market. SMIC will continue to support the DTV industry with our specialized manufacturing service.''

    About Legend Silicon

    Legend Silicon Corp is a fabless semiconductor company that develops technology and application-specific standard products (ASSP) for digital broadcasting and broadband transmission and reception. The company is a co-developer of the Chinese Digital Television Terrestrial Broadcasting (DTTB) System Standard (GB20600-2006) and provider of the Standard compliant demodulator products to enable fixed and mobile applications. Legend Silicon has operations in Fremont, Calif., Beijing, Shanghai and Tianjin in China. It also maintains a joint DTV Research Center with Tsinghua University in Beijing. To learn more about Legend Silicon, visit http://www.legendsilicon.com/ .

    About SMIC

    Semiconductor Manufacturing International Corporation (''SMIC''; NYSE: SMI; SEHK: 981) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in Mainland China, providing integrated circuit (IC) manufacturing service at 0.35 micron to 65 nanometer and finer line technologies. Headquartered in Shanghai, China, SMIC has a 300-millimeter wafer fabrication facility (fab) and three 200 mm wafer fabs in its Shanghai mega-fab, two 300 mm wafer fabs in its Beijing mega-fab, a 200 mm wafer fab in Tianjin, and an in-house assembly and testing facility in Chengdu. SMIC also has customer service and marketing offices in the U.S., Europe, and Japan, and a representative office in Hong Kong. In addition, SMIC manages and operates a 200 mm wafer fab in Chengdu owned by Cension Semiconductor Manufacturing Corporation and a 300 mm wafer fab under construction in Wuhan owned by Wuhan Xinxin Semiconductor Manufacturing Corporation. For more information, please visit http://www.smics.com/ .

    Semiconductor Manufacturing International Corporation

    CONTACT: Priscilla Zhang, PR of Legend Silicon, +86-10-5126-6606 x8503,
    or pris@legendsilicon.com.cn; or Rena Xia, PR of SMIC, +86-10-6785-5000 x20403,
    or Rena_Xia@smics.com

    Web Site: http://www.smics.com/
    http://www.legendsilicon.com/




    SiRF Appoints Diosdado Banatao as Executive ChairmanMichael Canning Resigns as President and CEO

    SAN JOSE, Calif., April 17 /PRNewswire-FirstCall/ -- SiRF Technology Holdings, Inc. today announced that Michael L. Canning has resigned effective immediately as CEO and president and as a member of its board of directors. Diosdado P. Banatao, a founder, and chairman of SiRF's board of directors, has been appointed executive chairman and has assumed the role of interim president and CEO.

    "Establishing SiRF as a market leader in the location technology field and taking the company public has been a rewarding experience for me," said Mr. Canning. "I continue to believe in the market opportunities for location enabled devices and I wish SiRF continued success."

    "We are very appreciative of Michael's contribution to the success of SiRF and wish him all the best," said Mr. Banatao. "We started SiRF with a vision to bring GPS to consumers and I am very excited about leading the company to the next level."

    Mr. Banatao has served as Chairman of SiRF's board of directors since its inception and was the initial outside investor in SiRF. Mr. Banatao is a managing partner at Tallwood Venture Capital. Mr. Banatao was previously a venture partner at Mayfield Fund. Mr. Banatao founded S3 Incorporated, now SonicBlue Incorporated, where he served as president and Chief Executive Officer from January 1989 until January 1992 and as Chairman from January 1992 to December 1997, and co-founded Chips & Technologies and Mostron. Mr. Banatao holds a B.S. in electrical engineering from the Mapua Institute of Technology and an M.S. in electrical engineering and computer science from Stanford University.

    About SiRF Technology Holdings, Inc.

    SiRF Technology Holdings, Inc. develops and markets semiconductor and software products that are designed to enable location-awareness utilizing GPS and other location technologies, enhanced by wireless connectivity capabilities such as Bluetooth, for high-volume mobile consumer devices and commercial applications. SiRF's technology has been integrated into mobile consumer devices, such as automobile navigation systems, mobile phones, PDAs, GPS-based peripherals and handheld GPS navigation devices, and into commercial applications, such as location services, asset tracking devices and fleet management systems. SiRF markets and sells its products in three target platforms: wireless handheld devices, such as mobile phones; automotive electronics systems, including navigation and telematics systems; and consumer and compute devices, including personal digital assistants, notebook computers, recreational GPS handhelds, mobile gaming machines, digital cameras and watches. Founded in 1995, SiRF is headquartered in San Jose, Calif., and has sales offices, design centers and research facilities around the world. The company trades on the Nasdaq Stock Exchange under the symbol SIRF. Additional information about SiRF and its Location Technology solutions can be found at http://www.sirf.com/.

    FORWARD-LOOKING STATEMENTS:

    Except for the historical information contained herein, the matters set forth in this press release, including but not limited to, our revenue expectations, consumer demand, our ability to complete the restructuring by September 2008 and our anticipated expense reductions and restructuring charges, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "to," "being," "possible," "may," "address," "designed to," "provide," "anticipate," "believe," "expect," "plan," "will," and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and reported results should not be considered as an indication of future performance. SiRF's actual results could differ materially from those discussed in these forward-looking statements as a result of risks and uncertainties, including, among others, the market for GPS-based location awareness capabilities, our ability to keep pace with rapid technological change, the semiconductor industry, international operations and our ability to compete, our ability to successfully integrate acquired businesses and other risks and uncertainties discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2007 and from time to time in SiRF's SEC reports. These forward-looking statements speak only as of the date hereof. We do not undertake any obligation to update forward-looking statements.

    SiRF Technology Holdings, Inc.

    CONTACT: Investors and Shareholders, Dennis Bencala of SiRF Technology
    Holdings, Inc., +1-408-392-8314, dbencala@sirf.com

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




    IGT Blasts NIGA 2008 With the Right Machines, Games, Platforms and SystemsOver 80 Games, New Machine Models and sb(TM) Products Featured

    RENO, Nev., April 17 /PRNewswire-FirstCall/ -- New machine models, exciting new games and innovative Network System solutions will highlight IGT's booth (#517) at the 2008 National Indian Gaming Association trade show April 22-23 at the San Diego Convention Center.

    Eighty-six new games will be showcased, as well as the complete new series of machine models. The G20, G22, G20 bartop and SAVP, as well as the Reel Depth Multi-Layer Display for video and spinning-reel slots, will be on display, representing the largest new cabinet offering in IGT's history.

    "We're showing a number of new games and products that weren't at G2E. We've made significant progress since that time on the games, machines and systems side of our business. We know that our customers need to keep their floors fresh with new options, and we want to deliver on that. Our emphasis at NIGA 2008 will be on games and systems available right now, all designed to improve our customers' ROI," said Steve Morro, IGT's Chief Operating Officer.

    Three new MegaJackpots(R) products will take center stage at the NIGA show: the Star Wars(TM) Multi-Level Progressive (MLP) video slot, the eBay(TM) video slot, and Wheel of Fortune(R) Super Spin(TM) Video Slots Five-Station(TM). The eBay(TM) game will soon be installed at several casinos, and Wheel of Fortune(R) Super Spin(TM) Video Slots Five-Station(TM) games have already been placed on floors around the country.

    A number of the new IGT game themes unveiled five months ago at the Global Gaming Expo have already proved to be hugely popular with players. Those themes include 100 Wolves(TM), Rembrandt Riches(TM), Fire Opal MultiWay Xtra(TM), Red Lions(TM), Arctic Fox(TM), Wild Wolf(TM), Diamond Queen(TM) and Golden Tiger Eternal Dragon(TM). Several new themes developed since G2E will also be in IGT's booth at the NIGA event: Thunderbird 7s(TM), Sizzling Wild(TM) 2-for-1, Silver Fire 7s and Diamond Fire(TM) slots; and Grand Monarch(TM) and Super Lucky Lotus(TM) video slots.

    New IGT video slot themes will include Fame & Fortune(TM), a two-level progressive; Golden Gate(TM), featuring the industry's first horizontal expanding-wild symbol feature; and Eastern Sun(TM). New video poker themes are Ultimate 4-of-a-Kind(TM), Multi-Strike Poker Deluxe(TM), and Quick Quads(TM).

    New Barcrest USA(TM) games will include Ring Master(TM), Hot Top Dollar(TM) and Blue Blazes(TM). IGT will also feature new Class II gaming additions including Klondike Treasures(TM) and 5-reel, 25-line Super Reels(TM).

    IGT's table solutions area will feature M-P Series(TM) multi-player electronic table games with video roulette and baccarat variations, Digideal(TM) with Pai Gow and High Tie, and Table iD(TM), the only automated table game system of its kind.

    IGT Network Systems will highlight the power of an open network and display a host of products under the IGT Advantage(R) Casino System, IGT Mariposa(TM) Software Suite, and sb(TM) Products families. IGT Advantage(R) System functionality on display will include IGT Advantage Bonusing(TM), NexGen(R) and sb NexGen(TM) multimedia player tracking panels, and NexGen(TM) Delivery Games.

    IGT Mariposa(TM) software focused on showcasing how the power of predictive modeling, business intelligence, and data visualization can impact operators today, as well as in the future server-based world, will also be featured. sb(TM) Products on the floor will include configuration, card-in and menu recognition, the Service Window (a gold award winner for Most Innovative Products at the 2007 Gaming Technology Summit), future game and marketing applications, and a new user interface that will be applied to all Network Systems products.

    IGT Advantage(R) -- IGT Advantage(R) is the most comprehensive casino management system in gaming. It provides all the tools operators need to manage their casino floors, attract and retain more customers, and dramatically improve the bottom line.

    IGT Advantage Bonusing(TM) -- IGT has more than a decade of experience creating and delivering the industry's most successful Bonusing solutions. Advantage Bonusing(TM) gives operators the power to deliver promotions, bonus games and incentives to the right players at the right time.

    sb NexGen(TM) -- This is a touchscreen LCD that revolutionized player communications right at the game. sb NexGen(TM) allows operators to communicate with players through the display using colorful animations, stereo sound and interactive messaging. sb NexGen(TM) provides a bridge to server-based gaming and the open network. Harrah's Entertainment, Inc. recently selected IGT's sb NexGen(TM) displays for installation on more than 60,000 Harrah's slot machines.

    IGT Mariposa(TM) -- IGT Mariposa(TM) is the customer relationship management (CRM), business intelligence (BI) and predictive modeling software designed by gaming professionals for gaming professionals(R). The product helps operators fully understand and predict player behavior patterns, increase marketing productivity, and analyze customer and game performance. IGT Mariposa(TM) provides the tools to better understand customer preferences and behaviors which are critical to maximizing ROI and growing player loyalty.

    International Game Technology (http://www.igt.com/) is a global company specializing in the design, development, manufacturing, distribution and sales of computerized gaming machines and systems products.

    International Game Technology

    CONTACT: Rick Sorensen of International Game Technology,
    +1-775-448-8022, Rick.Sorensen@igt.com

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

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