Companies news of 2008-05-01 (page 1)

  • Sonic Foundry Reports Second Quarter 2008 Results
  • ACS Announces Third Quarter Fiscal Year 2008 ResultsCompany Delivers Strong Signings,...
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    Sonic Foundry Reports Second Quarter 2008 Results

    MADISON, Wis., May 1 /PRNewswire-FirstCall/ -- Sonic Foundry, Inc. , the recognized market leader for rich media webcasting and knowledge management, today announced financial results for its fiscal 2008 second quarter:

    * Revenues totaled $3.9 million, up 3 percent from fiscal Q2 2007 * GAAP net loss of $2.3 million or $0.06 per diluted share * Non-GAAP net loss of $1.6 million or $0.04 per diluted share * Total billings reached $4.5 million, 9 percent growth year-over-year * Service revenues of $1.7 million, up 88 percent from the second quarter last year

    Non-GAAP net loss primarily excludes all non-cash related expenses of stock compensation, depreciation and amortization and one time charges associated with program and personnel reductions announced in January 2008. A reconciliation between GAAP and non-GAAP results is provided at the end of this press release.

    At March 31, 2008, an accumulated $3.5 million of unearned revenue had been billed and deferred, of which the company expects to realize $1.5 million in the upcoming quarter. Recorder units shipped increased 42 percent while service billings, a majority of which are deferred, were $2.0 million. As a result, gross margins were 71 percent for the second quarter, down from 77 percent in the past year. Future recognition of service revenues is expected to cause a rebound of gross margins to previous levels.

    As previously reported, the company has recently concentrated more of its selling efforts on the education sector and is entering the two strongest seasons for U.S. educational buying. The company's total higher education sales pipeline is now over 65 percent, an increase of approximately 15 percentage points over the same quarter last year. Additionally, the company continues to experience expanded interest and purchasing internationally due in large part to growing demand in traditional and distance learning programs globally. International sales accounted for 23 percent of the quarter's billings.

    The company experienced expanding market demand for more outsourced webcasting services within both the corporate and education sectors. New customers utilizing the company's webcasting and hosting services in the second quarter included Gulfstream Aerospace Corporation, Jackson Healthcare Systems, Lifespan, Inc., Olympus Winter & Ibe, Winston-Salem State University and Children's Healthcare of Atlanta. Service revenues increased from $913 thousand to $1.7 million year over year primarily due to growth in event and hosting services as well as an increase in support contracts and renewals. New customers of Sonic Foundry Event Services included Aventine HealthSciences, Birmingham City University, ESSEC Business School - France and Pitney Bowes MapInfo.

    Sales to education institutions represented 51 percent of the customer mix followed by corporations at 37 percent, government at 7 percent and health at 4 percent. Key higher education licensed sales for the second quarter of fiscal 2009 included Canadian Forces College, Columbia College of Missouri, New Hampshire Community College, New Mexico State University, Northwestern Health Sciences University, Sakarya University-Turkey, University of British Columbia, University of Michigan Ross School of Business and University of New Mexico.

    In January 2008, the company announced the initiation of cost savings measures that were designed to focus its overall market scope and concentrate on key vertical markets while positioning the company towards breakeven or better operations. Fiscal Q2 proforma expenses included one time costs associated with certain personnel and program reductions tied to this previous effort. The company expects to report additional expenses for fiscal Q3 totaling at least $425 thousand, which will also be reported on a proforma basis.

    "We continue to experience expanded demand from the leading early adopters, specifically in the business and health education markets. We believe these sectors will remain primary areas of technology investment on a global basis, even with a slowing economy," said Rimas Buinevicius, chairman and CEO of Sonic Foundry. "The advantages offered by distance learning, blended learning and webcasting services resonate strongly with economically conscious technology buyers and having the most advanced product in the market positions us well before our strongest buying season."

    Sonic Foundry will host a corporate webcast today for analysts and investors to discuss its second quarter fiscal 2008 results at 3:30 p.m. CT / 4:30 p.m. ET. It will use its patented rich media communications system, Mediasite, to webcast the presentation for both live and on-demand viewing. To access the presentation, go to http://www.sonicfoundry.com/q2. An archive of the webcast will be available for 30 days.

    EXPLANATION OF NON-GAAP MEASURES

    To supplement our financial results presented on a GAAP basis, we use the measure of non-GAAP net loss in our financial presentation, which exclude certain non-cash costs. These costs include stock-based compensation which we believe is helpful in understanding our past financial performance and our future results. Our non-GAAP financial measure is not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non- GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the factors management uses in planning for and forecasting future periods. Our non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects:

    * Stock-based compensation expenses: We adopted FASB Statement No. 123R, Share-Based Payments, on October 1, 2005, under the modified prospective method. Statement 123R requires us to record non-cash operating expenses associated with stock option awards at their estimated fair values. Prior to our Statement 123R adoption, we were required to record stock-based compensation expenses at intrinsic value, which was zero since we only issue stock options at the market price of our stock on the date issued. In accordance with the modified prospective method, our financial statements for prior periods have not been restated to reflect, and do not include, the changes in methodology to expense options at fair values in accordance with Statement 123R. Stock-based compensation is a key incentive offered to our employees. We believe such compensation contributed to the revenues earned during the periods presented and also believe it will contribute to the generation of future period revenues. As a result, we continue to evaluate our business performance excluding stock-based compensation expenses. * Depreciation and amortization of intangible and other assets expenses: We have excluded the effect of depreciation and amortization of assets from our pro-forma net loss. Amortization of intangible assets expense varies in amount and frequency and it is significantly affected by the timing and size of our acquisitions. Depreciation and amortization of asset costs is a non-cash expense that includes the periodic write-off of tooling, product design and other assets that contributed to revenues earned during the periods presented and will contribute to future period revenues as well. Amortization expenses will recur in future periods. * Personnel and program reduction costs: We have excluded the additional costs incurred as a result of our cost reduction plan which was communicated in January 2008. These costs include severance costs associated with employee reductions as we better aligned ourselves with key vertical markets. Also included is a one time charge associated with an early extinguishment of a lease. About Sonic Foundry(R), Inc.

    Founded in 1991, Sonic Foundry is the recognized market leader for rich media webcasting and knowledge management, providing education and training solutions and services that link an information-driven world. Based in Madison, Wisconsin, the company has received numerous awards including the 2007 Frost & Sullivan Global Market Leadership Award, Ziff Davis Media's Baseline Magazine's sixth fastest-growing software company with sales under $150 million and Deloitte's Technology Fast 500. Named a Bersin & Associates 2007 Learning Leader, Sonic Foundry's webcasting and knowledge management solutions are trusted by education institutions, Fortune 500 companies and government agencies for a variety of critical communication needs. Sonic Foundry is changing the way organizations communicate via the web and how people around the globe receive vital information needed for education, business, professional advancement and safety. Product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.

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

    Sonic Foundry, Inc. Consolidated Balance Sheets (in thousands, except for share data) (Unaudited) March 31, September 30, 2008 2007 Assets Current assets: Cash and cash equivalents $3,786 $8,008 Accounts receivable, net of allowances of $190 and $270 4,098 5,001 Inventories 77 204 Prepaid expenses and other current assets 623 975 Total current assets 8,584 14,188 Property and equipment: Leasehold improvements 980 975 Computer equipment 2,367 2,267 Furniture and fixtures 461 461 Total property and equipment 3,808 3,703 Less accumulated depreciation 1,857 1,520 Net property and equipment 1,951 2,183 Other assets: Goodwill and other intangibles, net of amortization of $1,662 and $1,656 7,604 7,610 Total assets $18,139 $23,981 Liabilities and stockholders' equity Current liabilities: Accounts payable $1,127 $1,512 Accrued liabilities 958 1,023 Unearned revenue 3,464 3,314 Current portion of notes payable 333 333 Current portion of capital lease obligation 59 66 Total current liabilities 5,941 6,248 Long-term portion of notes payable 389 556 Long-term portion of capital lease obligations 44 69 Other liabilities 302 348 Total liabilities 6,676 7,221 Stockholders' equity: - - Preferred stock, $.01 par value, authorized 5,000,000 shares; none issued and outstanding - - 5% preferred stock, Series B, voting, cumulative, convertible, $.01 par value (liquidation preference at par), authorized 10,000,000 shares, none issued and outstanding - - Common stock, $.01 par value, authorized 100,000,000 shares; 35,708,837 and 35,684,503 shares issued and 35,581,670 and 35,557,336 shares outstanding 357 357 Additional paid-in capital 184,049 183,528 Accumulated deficit (172,748) (166,930) Receivable for common stock issued (26) (26) Treasury stock, at cost, 127,167 shares (169) (169) Total stockholders' equity 11,463 16,760 Total liabilities and stockholders' equity $18,139 $23,981 See accompanying notes Sonic Foundry, Inc. Consolidated Statements of Operations (in thousands, except for share and per share data) (Unaudited) Three Months Ended March 31, Six Months Ended March 31, 2008 2007 2008 2007 Revenue: Product $2,182 $2,898 $3,124 $5,484 Services 1,719 913 3,277 1,791 Other 28 10 48 19 Total revenue 3,929 3,821 6,449 7,294 Cost of revenue: Product 1,030 790 1,539 1,533 Services 124 101 237 131 Total cost of revenue 1,154 891 1,776 1,664 Gross margin 2,775 2,930 4,673 5,630 Operating expenses: Selling and marketing 3,330 3,043 6,876 5,547 General and administrative 736 1,104 1,714 2,074 Product development 982 806 1,928 1,481 Total operating expenses 5,048 4,953 10,518 9,102 Loss from operations (2,273) (2,023) (5,845) (3,472) Other income, net (5) 111 27 131 Net loss $(2,278) $(1,912) $(5,818) $(3,341) Net loss per common share: - basic and diluted $(0.06) $(0.05) $(0.16) $(0.10) Weighted average common shares - basic and diluted 35,572,140 35,368,667 35,566,949 33,881,848 See accompanying notes Non-GAAP Consolidated Statements of Operations (in thousands) Fiscal Quarter Ended Fiscal Quarter Ended March 31, 2008 March 31, 2007 GAAP Adj(1) Non-GAAP GAAP Adj(1) Non-GAAP Revenues $3,929 - $2,520 $3,821 - $3,821 Cost of revenue 1,154 - 622 891 - 891 Total Operating expenses 5,048 (703) 4,345 4,953 (395) 4,558 Loss from operations (2,273) 703 (1,570) (2,023) 395 (1,628) Other income (5) - (5) 111 - 111 Net loss $(2,278) $703 $(1,575) $(1,912) $395 $(1,517) Diluted net loss per common share $(0.06) $0.02 $(0.04) $(0.05) $0.01 $(0.04) (1)Adjustments consist of the following: Personnel and program reduction costs 316 - Depreciation (in G&A) 166 156 Stock-based compensation(2) 221 239 Total non-GAAP adjustments 703 395 (2) Stock-based compensation is included in the following GAAP operating expenses: Selling and marketing 141 155 General and administrative 24 31 Research and development 56 53 Total stock-based compensation 221 239

    Sonic Foundry, Inc.

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

    Web site: http://www.sonicfoundry.com/
    http://www.sonicfoundry.com/q2




    ACS Announces Third Quarter Fiscal Year 2008 ResultsCompany Delivers Strong Signings, Earnings and Cash Flow

    DALLAS, May 1 /PRNewswire-FirstCall/ -- Affiliated Computer Services, Inc. today announced third quarter fiscal year 2008 revenues of $1.54 billion, an increase of 7% compared to the third quarter of the prior year. Adjusted non-GAAP diluted earnings per share for the third quarter of fiscal years 2008 and 2007 were $0.91 and $0.78, respectively, representing a 17% increase. See "Reconciliation of Reported GAAP Results to Adjusted Non-GAAP Results" below. Third quarter new business signings were the second highest in Company history at $245 million of annual recurring revenue. Third quarter fiscal year 2008 free cash flow was $161 million, or 10% of revenues.

    Fiscal year-to-date revenues were $4.55 billion, an increase of 7% over the prior year period. Adjusted non-GAAP earnings per share for the nine months ended March 31, 2008 and 2007 were $2.58 and $2.24, respectively, representing a 15% increase. Fiscal year-to-date new business signings were $591 million of annual recurring revenue, a 30% increase over the prior year-to-date period. Fiscal year-to-date free cash flow was $342 million, or 8% of revenues.

    "Our outstanding signings, free cash flow, and strong earnings growth underscore that our strategy is working," said Lynn Blodgett, ACS president and chief executive officer. "We are focused on providing specific vertical business process outsourcing solutions that we can leverage across many customers. In support of this strategy, this quarter we expanded our service offerings and geographic footprint with four new acquisitions and key new logos wins. These new capabilities, along with our ability to execute our sales strategy and operational excellence, delivered strong results this quarter and positions us well for the future."

    Key highlights from ACS' fiscal year 2008 third quarter: -- During the quarter, the Company generated new business signings of $245 million in annual recurring revenue with an estimated total contract value of $1.1 billion. Government signings represented 63% of new business signings and Commercial contributed 37%. From a service line perspective, business process outsourcing contributed 84% of new business signings and 16% were information technology solutions. -- Total revenues were $1.54 billion and represented 7% growth, of which 5% was internal. The Commercial segment contributed 60% of revenues and grew 8% with 5% internal revenue growth. The Government segment contributed 40% of revenues and grew 6%, excluding divestitures, with 5% internal growth. -- Adjusted non-GAAP diluted earnings per share for the third quarter of fiscal years 2008 and 2007 were $0.91 and $0.78, respectively, representing a 17% increase. Third quarter fiscal year 2008 reported GAAP diluted earnings per share was $0.85 as compared to $0.82 in the prior year third quarter. Third quarter fiscal year 2007 included a $0.06 per diluted share gain related to the sale of a minority interest. See "Reconciliation of Reported GAAP Results to Adjusted Non-GAAP Results" below. -- Cash flow from operations during the third quarter was $229 million, or 15% of revenues. Free cash flow during the quarter was $161 million, or 10% of revenues. This quarter's cash flow results benefited from improved collections on accounts receivable, lower capital expenditures and additions to intangible assets. -- The Company expanded its service offerings and global capabilities by closing the following acquisitions this quarter: o In January 2008, to support its expansion, the Company acquired Syan Holdings Limited, a U.K.-based provider of information technology outsourcing services, for a purchase price of $69 million. Syan generated trailing twelve month revenue of approximately $75 million. o In February 2008, to deepen its healthcare vertical, the Company acquired Bowers & Associates, Inc., a Wisconsin-based provider of quality care and productivity management services and healthcare data analytics, for a purchase price of $8 million. Bowers had trailing twelve month revenue of approximately $5 million. o In March 2008, to further support its global expansion, the Company acquired sds business services GmbH, a Germany-based provider of data center, infrastructure services, and application related solutions, for a purchase price of $63 million. sds generated trailing twelve month revenue of approximately $40 million. o In March 2008, to broaden its transportation vertical, the Company acquired Communications Development, Inc., an Arkansas-based provider of outsourced marketing, consulting, and advertising services to the commercial transportation industry. Key year-to-date highlights for fiscal 2008: -- Year-to-date fiscal 2008 new business signings were $591 million of annual recurring revenue, with an estimated total contract value of $2.5 billion. Commercial signings contributed 55% of year-to-date fiscal 2008 new business signings and Government contributed 45%. From a service line perspective, business process outsourcing generated 80% of new business signings and 20% were information technology solutions. Trailing twelve month new business signings were $744 million in annual recurring revenue and increased 24% over the prior period. -- Year-to-date fiscal 2008 revenues were $4.55 billion. Total revenue growth was 7% with internal growth of 5%. The Commercial segment accounted for 59% of revenues in the year-to-date period and grew 7% with 5% internal revenue growth. The Government segment accounted for 41% of revenues in the year-to-date period and grew 7% with 6% internal revenue growth. -- Adjusted non-GAAP diluted earnings per share for the nine months ended March 31, 2008 and 2007 were $2.58 and $2.24, respectively, representing a 15% increase. Year-to-date fiscal 2008 reported GAAP diluted earnings per share was $2.32 compared to $2.12 in the prior year. See "Reconciliation of Reported GAAP Results to Adjusted Non-GAAP Results" below. -- Fiscal year-to-date cash flow from operations was $560 million, or 12% of revenues, and free cash flow was $342 million, or 8% of revenues. Capital expenditures and additions to intangibles were $218 million, or 5% of revenues. -- During the second quarter of fiscal year 2008, the Company completed a $200 million share repurchase program, purchasing 4.5 million shares at an average price of $44 per share. Events subsequent to ACS' fiscal year 2008 third quarter: -- In April 2008, to deepen its transportation vertical, the Company announced its intent to acquire Orbital Sciences Corporation's Transportation Management Systems (TMS) business for a purchase price of $43 million. TMS had trailing twelve month revenue of approximately $50 million. -- In April 2008, to broaden its healthcare vertical, the Company acquired CompIQ Corporation (CompIQ) for a purchase price of $22 million. CompIQ generated approximately $17 million of trailing twelve month revenue.

    ACS will discuss its financial results on a conference call and web cast on http://www.acs-inc.com/ at 3:30 p.m. central time today. During the conference call, management will refer to a presentation provided on the Investor Relations page of ACS' website and will use certain non-generally accepted accounting principles ("GAAP") financial measures for which reconciliations to the most directly comparable GAAP financial measures will also be provided.

    ACS, a FORTUNE 500 company with in excess of 63,000 people supporting client operations in more than 100 countries, provides business process outsourcing and information technology solutions to world-class commercial and government clients. The Company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS." Visit ACS on the Internet at http://www.acs-inc.com/.

    All statements in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Company's prior filings with the Securities and Exchange Commission, including those set forth under Item 1A "Risk Factors" in the most recent Annual Report on Form 10-K filed on August 29, 2007. In addition, we operate in a highly competitive and rapidly changing environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise any forward-looking statement.

    AFFILIATED COMPUTER SERVICES, INC. AND SUBSIDIARIES Consolidated Statements of Income Dollars in thousands, except per share amounts (Unaudited) Three months ended March 31, 2008 2007 Revenues $1,542,370 $1,440,546 Operating expenses: Cost of revenues: Wages and benefits 736,646 689,298 Services and supplies 338,320 304,734 Rent, lease and maintenance 184,622 174,052 Depreciation and amortization 96,413 87,995 Other 7,274 8,406 Total cost of revenues 1,363,275 1,264,485 Other operating expenses 15,184 13,470 Total operating expenses 1,378,459 1,277,955 Operating income 163,911 162,591 Interest expense 39,325 46,391 Other non-operating income, net (4,514) (12,325) Pretax profit 129,100 128,525 Income tax expense 46,462 46,466 Net income $82,638 $82,059 Earnings per share: Basic $0.86 $0.83 Diluted $0.85 $0.82 Shares used in computing earnings per share: Basic 96,089 98,945 Diluted 96,921 100,300 Note: See "Summary Reconciliation of Reported GAAP Results to Adjusted Non-GAAP Results" for certain items impacting the reported numbers above. AFFILIATED COMPUTER SERVICES, INC. AND SUBSIDIARIES Consolidated Statements of Income Dollars in thousands, except per share amounts (Unaudited) Nine months ended March 31, 2008 2007 Revenues $4,546,895 $4,252,745 Operating expenses: Cost of revenues: Wages and benefits 2,153,642 2,023,766 Services and supplies 1,006,543 913,714 Rent, lease and maintenance 554,743 530,207 Depreciation and amortization 281,595 254,861 Other 21,171 28,161 Total cost of revenues 4,017,694 3,750,709 Other operating expenses 61,995 48,259 Total operating expenses 4,079,689 3,798,968 Operating income 467,206 453,777 Interest expense 126,344 140,489 Other non-operating income, net (10,703) (24,629) Pretax profit 351,565 337,917 Income tax expense 121,187 122,401 Net income $230,378 $215,516 Earnings per share: Basic $2.34 $2.15 Diluted $2.32 $2.12 Shares used in computing earnings per share: Basic 98,447 100,448 Diluted 99,414 101,749 Note: See "Summary Reconciliation of Reported GAAP Results to Adjusted Non-GAAP Results" for certain items impacting the reported numbers above. AFFILIATED COMPUTER SERVICES, INC AND SUBSIDIARIES Condensed Consolidated Balance Sheets Dollars in thousands (Unaudited) March 31, June 30, 2008 2007 Assets Cash and cash equivalents $328,907 $307,286 Accounts receivable, net 1,362,320 1,257,108 Income taxes receivable 10,871 13,268 Other current assets 250,328 232,872 Total current assets 1,952,426 1,810,534 Property, equipment, and software, net 899,280 897,319 Goodwill 2,750,337 2,612,368 Other intangible assets, net 446,637 481,378 Other assets 205,147 180,830 Total Assets $6,253,827 $5,982,429 Liabilities: Accounts payable $200,969 $97,951 Accrued compensation and benefits 177,737 246,742 Other accrued liabilities 359,244 400,238 Deferred taxes 84,457 14,418 Current portion of long-term debt 47,056 47,039 Current portion of unearned revenue 168,179 164,484 Total current liabilities 1,037,642 970,872 Long-term debt 2,370,894 2,342,272 Deferred taxes 376,175 367,565 Other long-term liabilities 318,710 235,552 Total Liabilities 4,103,421 3,916,261 Total Stockholders' Equity 2,150,406 2,066,168 Total Liabilities and Stockholders' Equity $6,253,827 $5,982,429 Frequently Used Terms

    New business signings -- while there are no third party standards or requirements governing the calculation of new business signings, we define new business signings as annual recurring revenue from new contracts and the incremental portion of renewals that are signed during the period, which represents the estimated first twelve months of revenue to be recorded under the contracts after full implementation. We use new business signings as a measure of estimated recurring revenues represented by contractual commitments, both to forecast prospective revenues and to estimate capital commitments. Revenues are measured under GAAP.

    Trailing twelve month new business -- is the preceding twelve months of new business signings at a point in time expressed in annual revenue, not total contract value.

    Total contract value -- represents estimated total revenue over the term of the contract.

    Restatement of Operating Segment Results

    During the first quarter of fiscal year 2008, the Company reorganized the internal operating and reporting structures in its Commercial and Government segments to more formally align its sales, service delivery and financial organizations under their appropriate leadership. As a result, the Company has restated its Commercial and Government segment results for the three and nine months ended March 31, 2007 to reflect its current operating and reporting structure. The restatement has no impact on the Company's consolidated results for the period of restatement.

    Use of Non-GAAP Financial Information

    The Company reports its financial results in accordance with GAAP. However, the Company uses certain non-GAAP performance measures, including adjusted non-GAAP earnings per share, free cash flow and internal revenue growth to provide both management and investors a more complete understanding of the Company's underlying operational trends and results.

    Management uses these non-GAAP measures to provide additional meaningful comparisons between current results and prior results, and as a basis for planning and forecasting for future periods.

    Reconciliation of Reported GAAP Results to Adjusted Non-GAAP Results -- In addition to reporting operating income, pretax income, net income and earnings per share on a GAAP basis, the Company has also made certain non-GAAP adjustments which are described in "Description of Non-GAAP Adjustments," and are reconciled to the corresponding GAAP measures in the attached financial schedules titled, "Reconciliation of Reported Results to Income Adjusted for Certain Non-GAAP Items" included in this earnings release. In making these non-GAAP adjustments, the Company takes into account the impact of items that are infrequently occurring or that are non-operational in nature. Management believes that the exclusion of these items provides a useful basis for evaluating underlying business performance, but should not be considered in isolation and is not in accordance with, or a substitute for, evaluating business unit performance utilizing GAAP financial information. Management uses non-GAAP measures in its budgeting and forecasting processes and to further analyze its financial trends, as well as making financial comparisons to prior periods presented on a similar basis. The Company's management uses each of these non-GAAP financial measures in its own evaluation of the Company's performance, particularly when comparing performance to prior periods, and the Company believes that providing such adjusted results allows investors and other users of the Company's financial statements to better understand the Company's comparative operating performance for the periods presented.

    The Company's management uses each of these non-GAAP financial measures in its own evaluation of the Company's performance, particularly when comparing performance to past periods. The Company's non-GAAP measures may differ from similar measures by other companies, even if similar terms are used to identify such measures. Although the Company's management believes non-GAAP measures are useful in evaluating the performance of its business, the Company acknowledges that items excluded from such measures may have a material impact on the Company's income from operations, pretax income, net income and earnings per share calculated in accordance with GAAP. Therefore, management uses non-GAAP measures in conjunction with GAAP results. Investors and users of our financial information should also consider the above factors when evaluating our results.

    Description of Non-GAAP Adjustments:

    The following items are included in our presentation of Non-GAAP adjustments:

    1. Costs related to our internal investigation of our stock option grant practices, investigations begun by the Securities and Exchange Commission and Department of Justice, and shareholder derivative suits: The Company has incurred costs related to our internal investigation, as well as those of the SEC and DOJ. In addition, several derivative lawsuits have been filed in connection with our stock option grant practices, generally alleging claims related to breach of fiduciary duty and unjust enrichment by certain of our directors and senior executives and the Company has incurred costs related to these lawsuits. Management expects that the Company will continue to incur costs related to the ongoing investigations and derivative lawsuits (collectively, "Option Investigation Related Costs"). Management believes that these costs, although material and recurring, are not related to the Company's ongoing operations and that excluding them helps to provide a more meaningful representation of the Company's operating performance. 2. Costs related to buyout offers and related shareholder derivative suits: The Company has incurred costs in fiscal years 2008 and 2007 to evaluate our strategic alternatives, including the proposal from Darwin Deason, Chairman of the Board of Directors, and Cerberus. In addition, several lawsuits have been filed in connection with the announced buyout transaction, generally alleging claims related to breach of fiduciary duty, and seeking class action status ("Buyout Related Cost"). Management expects that the Company may continue to incur costs related to our evaluation of strategic alternatives and these lawsuits. Management believes that these costs, although material and possibly recurring, are not related to the Company's ongoing operations and that excluding them helps to provide a more meaningful representation of the Company's operating performance. 3. Cost related to amending certain employee stock options: During fiscal year 2007 and the first quarter of fiscal year 2008, the Company amended the exercise price of certain outstanding stock options in order to reprice all, or a portion, of the respective stock option grants to the correct accounting measurement date to avoid adverse tax consequences to individual holders under Section 409A of the Internal Revenue Code ("Section 409A"). During the first quarter of fiscal year 2008, the Company expensed approximately $1.2 million related to these amended stock options ("Amended Options"). During the third quarter of fiscal year 2008, the Company paid approximately $6.7 million to the individual holders in accordance with the terms of the amended stock options. Management believes that these costs and cash payments are not related to the Company's ongoing operations and that excluding them helps to provide a more meaningful representation of our operating performance. 4. Cost related to certain former employees' stock options: The exercise price of certain former employees' vested, unexercised and outstanding stock options were less than the fair market value per share of ACS stock on the revised measurement dates for such stock options. During the first quarter of fiscal year 2008, the Company notified certain former employees that the Company will pay them the additional 20% income tax imposed by Section 409A if a triggering event occurs and if the employee is required to recognize and report W-2 income under Section 409A, subject to certain limitations. During the three and nine months ended March 31, 2008, the Company accrued approximately $0.5 million and $1.0 million, respectively, based on the market price of ACS common stock at March 31, 2008 and will adjust this accrual to the fair market value of ACS stock each quarter until the options are exercised ("Income Tax Reimbursements"). Management believes that these costs are not related to the Company's ongoing operations and that excluding them helps to provide a more meaningful representation of our operating performance. 5. Gain related to sale of our decision support business: In the second quarter of fiscal year 2008, the Company divested its decision support business and recognized a pre-tax gain of $2.4 million. Management believes that the decision support business is not strategic to our ongoing operations and its sale is an isolated event. Management believes excluding the gain on its sale better reflects the performance of our continuing operations. 6. Waiver fee on our Credit Facility: In the first quarter of fiscal year 2007, the Company received an amendment, consent and waiver from the lenders under our Credit Facility with respect to, among other provisions, waiver of any default or event of default arising under the Credit Facility as a result of our failure to comply with certain reporting covenants ("Waiver Fee"). Management believes that our delayed filings of our Annual Report on Form 10-K for the year ended June 30, 2006 and Quarterly Report on Form 10-Q for the period ended September 30, 2006, which necessitated the waiver, are infrequently occurring events and excluding the Waiver Fee provides a more meaningful representation of our results of operations for the first quarter of fiscal year 2007. 7. Gain related to sale of minority interests: In the third quarter of fiscal year 2007, the Company divested its minority interest in a professional service business and recognized a pre-tax gain of $9.1 million. Management believes that this sale is an isolated event related to non-core operations and not representative of our ongoing operations. This business was not considered strategic to our ongoing operations and excluding the gains on the sale helps to isolate the performance of our continuing operations. 8. North Carolina contract settlement ("NC Settlement"): In the third quarter of fiscal year 2007, we mutually agreed to terminate the North Carolina MMIS contract, settled all issues related to the contract, and recognized $3.4 million in revenue related to this settlement. The Company believes that the contract termination and settlement was an infrequent occurrence and that excluding this settlement helps to provide a more meaningful representation of the performance of our continuing operations. 9. Litigation settlement: In the third and fourth quarters of fiscal year 2007, we recorded charges of approximately $2.2 million and $2.3 million, respectively, related to the settlement of a pre-acquisition claim related to our fiscal year 2005 acquisition of the human resources consulting business of Mellon Financial Corporation. In the third quarter of fiscal year 2008, we recovered approximately $1.8 million of this settlement. We believe that the settlement and subsequent recovery of this pre-acquisition claim is not related to our ongoing operations and that excluding them helps to provide a more meaningful representation of the performance from our continuing operations. AFFILIATED COMPUTER SERVICES, INC. AND SUBSIDIARIES RECONCILIATION OF OPERATING INCOME (GAAP) TO ADJUSTED OPERATING INCOME (Non-GAAP) (UNAUDITED) (In millions) Three Months Ended Nine Months Ended March 31, March 31, 2008 2007 2008 2007 Operating Income (GAAP) $163.9 $162.6 $467.2 $453.8 Adjusting items, pre-tax: Option investigation related costs 9.8 4.3 34.0 26.0 Buyout related costs 0.2 0.6 8.9 0.6 Amended options (409(a)) - - 1.2 - Income tax reimbursement 0.5 - 1.0 - Sale of decision support business - - (2.4) - NC settlement - (3.4) - (3.4) Legal settlement (1.8) 2.2 (1.8) 2.2 Adjusted Operating Income (Non-GAAP)* $172.7 $166.3 $508.2 $479.2 RECONCILIATION OF NET INCOME (GAAP) TO ADJUSTED NET INCOME (Non-GAAP) (UNAUDITED) (In millions) Three Months Ended Nine Months Ended March 31, March 31, 2008 2007 2008 2007 Net Income (GAAP) $82.6 $82.1 $230.4 $215.5 Adjusting items, net of tax: Option investigation related costs 6.3 2.7 21.9 16.6 Buyout related costs 0.1 0.4 5.8 0.4 Amended options (409(a)) - - 0.8 - Income tax reimbursement 0.3 - 0.7 - Sale of decision support business - - (1.6) - Waiver fee - - - 1.6 Sale of minority interests - (5.9) - (5.9) NC settlement - (2.1) - (2.1) Legal settlement (1.1) 1.4 (1.1) 1.4 Adjusted Net Income (Non-GAAP)* $88.3 $78.5 $256.8 $227.5 RECONCILIATION OF DILUTED EARNINGS PER SHARE (GAAP) TO ADJUSTED DILUTED EARNINGS PER SHARE (Non-GAAP) (UNAUDITED) Three Months Ended Nine Months Ended March 31, March 31, 2008 2007 2008 2007 Diluted Earnings Per Share (GAAP) $0.85 $0.82 $2.32 $2.12 Adjusting items, net of tax: Option investigation related costs 0.06 0.03 0.22 0.17 Buyout related costs - - 0.06 - Amended options (409(a)) - - 0.01 - Income tax reimbursement - - 0.01 - Sale of decision support business - - (0.02) - Waiver fee - - - 0.01 Sale of minority interests - (0.06) - (0.06) NC settlement - (0.02) - (0.02) Legal settlement (0.01) 0.01 (0.01) 0.01 Adjusted Diluted Earnings Per Share (Non-GAAP)* $0.91 $0.78 $2.58 $2.24 *Differences in schedule due to rounding.

    Internal revenue growth -- is measured as total revenue growth less acquired revenue from acquisitions and revenues from divested operations. Acquired revenue from acquisitions is based on pre-acquisition normalized revenue of acquired companies. We use the calculation of internal revenue growth to measure revenue growth excluding the impact of acquired revenues and the revenue associated with divested operations and we believe these adjustments to historical reported results are necessary to accurately reflect our internal revenue growth.

    For the three months ended March 31, 2008, the Company generated internal revenue growth of 5%. Internal revenue growth is measured as follows (unaudited, $ in millions):

    Three months ended March 31, 2008 2007 Growth %(a) Consolidated Total Revenues $1,542 $1,440 7% Less: Divested - (2) Adjusted Base $1,542 $1,438 7% Acquired Revenues* $33 $- 2% Internal Revenues 1,509 1,438 5% Total $1,542 $1,438 7% Commercial Total Revenues $922 $851 8% Less: Divested - - Adjusted Base $922 $851 8% Acquired Revenues* $26 $- 3% Internal Revenues 896 851 5% Total $922 $851 8% Government Total Revenues $620 $589 5% Less: Divested - (2) Adjusted Base $620 $587 6% Acquired Revenues* $7 $- 1% Internal Revenues 613 587 5% Total $620 $587 6% * Acquired revenues are based on pre-acquisition normalized revenues of acquired companies. (a) Differences in schedule due to rounding.

    For the nine months ended March 31, 2008, the Company generated internal revenue growth of 5%. Internal revenue growth is measured as follows (unaudited, $ in millions):

    Nine months ended March 31, 2008 2007 Growth %(a) Consolidated Total Revenues $4,547 $4,253 7% Less: Divested - (3) Adjusted Base $4,547 $4,250 7% Acquired Revenues* $71 $- 2% Internal Revenues 4,476 4,250 5% Total $4,547 $4,250 7% Commercial Total Revenues $2,704 $2,533 7% Less: Divested - - Adjusted Base $2,704 $2,533 7% Acquired Revenues* $50 $- 2% Internal Revenues 2,654 2,533 5% Total $2,704 $2,533 7% Government Total Revenues $1,843 $1,720 7% Less: Divested - (3) Adjusted Base $1,843 $1,717 7% Acquired Revenues* $21 $- 1% Internal Revenues 1,822 1,717 6% Total $1,843 $1,717 7% * Acquired revenues are based on pre-acquisition normalized revenues of acquired companies. (a) Differences in schedule due to rounding. Free Cash Flow

    Free cash flow -- is measured as operating cash flow (net cash provided by operating activities, as reported in our consolidated statements of cash flows) less capital expenditures (purchases of property, equipment and software, net of sales, as reported in our consolidated statements of cash flows) less additions to other intangible assets (as reported in our consolidated statements of cash flows). We believe that this free cash flow metric provides an additional measure of available cash flow after we have satisfied the capital expenditure requirements of our operations, and should not be taken in isolation to be a measure of cash flow available for us to satisfy all our obligations and execute our business strategies. We also rely on cash flows from investing and financing activities which, together with free cash flow, are expected to be sufficient for us to execute our business strategies. Our measure of free cash flow may not be comparable to similarly titled measures of other companies. (unaudited, $ in millions):

    Three months ended Nine months ended March 31, March 31, 2008 2007 2008 2007 Free Cash Flow Net cash provided by operating activities $229 $90 $560 $395 Less: Purchase of property, equipment and software, net of sales (60) (69) (193) (239) Additions to other intangible assets (8) (15) (26) (30) Free Cash Flow* $161 $6 $342 $126 Certain cash flow items (included above): Cash interest paid on debt $32 $39 $118 $121 Cash paid on stock option investigations, potential buyout and derivative lawsuits 6 6 35 25 Tax, interest and penalties paid on stock option restatement - 35 - 35 Payments related to amended options 7 - 7 - Cash interest received (1) (2) (7) (7) Total* $43 $78 $153 $174 *Differences in schedule due to rounding.

    Affiliated Computer Services, Inc.

    CONTACT: Investors, Jon Puckett, Vice President, Investor Relations,
    +1-214-841-8281, jon.puckett@acs-inc.com, or media, Kevin Lightfoot, Vice
    President, Corporate Communications, +1-214-841-8191,
    kevin.lightfoot@acs-inc.com, both of Affiliated Computer Services, Inc.

    Web site: http://www.acs-inc.com/




    Hifn, Inc. Reports Q2 FY2008 Results and Announces Stock Repurchase Program

    LOS GATOS, Calif., May 1 /PRNewswire-FirstCall/ -- Hifn(TM) today reported financial results for the second quarter ended March 31, 2008. This press release contains both GAAP and non-GAAP financial information for which a reconciliation can be found on the final page.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20070723/CLM036LOGO)

    Revenues for the second quarter of fiscal 2008 were $9.3 million, a decrease of 15 percent from the $10.9 million in revenues reported in the previous quarter and a decrease of 16 percent from the $11.0 million in revenues reported in the second quarter of fiscal 2007. Revenues for the six months ended March 31, 2008 were $20.2 million, a decrease of one percent from the $20.3 million reported for the six months ended March 31, 2007.

    Net loss for the second quarter ended March 31, 2008, on a generally-accepted accounting principles (GAAP) basis, was $2.0 million, or a loss of $0.14 per share. Non-GAAP net loss, adjusted for stock-based compensation expense and amortization of intangible assets, for the second quarter of fiscal 2008 was $748,000, or a loss of $0.05 per share. Net loss for the second quarter ended March 31, 2007, on a GAAP basis, was $707,000, or a loss of $0.05 per share. Non-GAAP net income, adjusted for stock-based compensation expense and amortization of intangible assets, for the second quarter of fiscal 2007 was $575,000, or an income of $0.04 per share.

    Net loss for the six months ended March 31, 2008, on a GAAP basis, was $2.7 million, or a loss of $0.18 per share. Non-GAAP net loss, adjusted for stock-based compensation expense and amortization of intangible assets, for the six months ended March 31, 2008 was $246,000, or a loss of $0.02 per share. Net loss for the six months ended March 31, 2007, on a GAAP basis, was $3.4 million, or a loss of $0.24 per share. Non-GAAP net loss, adjusted for stock-based compensation expense and amortization of intangible assets, for the six months ended March 31, 2007 was $947,000, or a loss of $0.07 per share.

    "This was a challenging quarter for the company, and our results underscore the combined execution and business environment issues we are addressing as we simultaneously expand our product line while diversifying out of our legacy dependence upon a relatively narrow customer set for top line growth. In the most recent quarter, revenue from two of our largest OEM customers came in below our expectations, while the new volume-production revenue streams driving our diversification strategy are now beginning to grow," said Albert E. Sisto, Chairman and CEO of Hifn. "We are however encouraged by our cost and cash management over the quarter. Operating expenses for the quarter were in line with earlier guidance and declined from expenses in the prior year second quarter, and our cash reserves have increased by $3.2M since the end of our 2007 fiscal year. We are continuing to upgrade and expand our sales force as we add feet on the street to stimulate revenue growth." Sisto continued, "Despite these transitional challenges, the core of the Hifn business and product family value proposition is meeting with growing acceptance and market adoption by a much wider customer set than at any time in our history, driven in the main by the ongoing convergence of networking and storage. We remain confident in our technology and close customer relationships going forward in 2008 and we have the financial resources to pursue our strategy," Sisto concluded.

    Hifn management will hold a conference call to discuss these results today, May 1, 2008 at 1:30 p.m. Pacific Daylight Time (PDT). Those wishing to join should dial 800-509-8613 (domestic U.S.) or 706-679-4544 (international) at approximately 1:15 p.m. Playback of the conference call will be available for 72 hours after the call and may be accessed by calling 800-642-1687, pass code 44064623. This press release and information regarding the conference call may be accessed through the Investor Relations page in Hifn's corporate website at http://www.hifn.com/.

    Hifn also announced today that its Board of Directors has approved a stock repurchase program under which Hifn may repurchase up to $8 million of its common stock. Under this stock repurchase program, until September 30, 2008, shares may be repurchased from time to time in the open market or through negotiated transactions.

    "We are pleased that our Board of Directors has approved this repurchase program," commented Mr. Sisto. "This repurchase program is consistent with our commitment to enhance shareholder value."

    Hifn is not obligated to purchase any shares under this stock repurchase program. Subject to applicable corporate securities laws, repurchases under this stock repurchase program may be made at such times and in such amounts as Hifn's management deems appropriate. Purchases under this stock repurchase program can be discontinued at any time management feels additional purchases are not warranted. Hifn intends on funding the repurchases under this stock repurchase program with existing cash resources.

    About Hifn

    Hifn delivers the key channel and OEM ingredients for 21st century storage and networking environments. Leveraging over a decade of leadership and expertise in the development of purpose-built Applied Services Processors (ASPs), Hifn is a trusted partner to industry leaders for whom infrastructure innovation in storage and networking is critical to success. With the majority of secure networked communications flowing through Hifn technology, the 21st century convergence of storage and networking drives our product roadmap forward. For more information, please visit: http://www.hifn.com/.

    Non-GAAP Measures

    Management uses non-GAAP measures internally for evaluating current financial performance, strategic decision making and forecasting. These non-GAAP measures are a derivative of our GAAP results adjusted for stock-based compensation expense and amortization of intangible assets. Given the importance of non-GAAP measures to management, Hifn believes these non-GAAP measures will help analysts and investors better understand management assessment of the company's operational financial performance as compared to prior periods. These non-GAAP measures are not in accordance with or an alternative for GAAP financial data. Non-GAAP measures used by Hifn may be different from those used by other companies.

    This press release contains forward-looking statements, such as statements about future events, such as Hifn's future financial performance, including statements related to increasing acceptance of our storage segment solutions, continued strong shipments of our network security processors, our ability to generate cash from our core business and Hifn's intention to repurchase shares of its common stock under the stock repurchase program. Readers are cautioned that Hifn's forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, such as: our dependence on a small number of customers; changes in customer demand and customer ordering patterns; stimulation of revenue growth through sales force expansion and product acceptance; continuous decline of expenses from prior year; our ability to successfully integrate and operate the business and technology of Siafu Software; and unexpected economic slowdown in the technology sector. In addition, Hifn's intention to repurchase shares of its common stock under the stock repurchase program may be affected by a number of factors, including, but not limited to: fluctuations in Hifn's stock price; Hifn's liquidity needs; management's assessment of general business or market conditions; and management's determination of alternative uses of Hifn's cash resources. Additional risks are detailed from time to time in Hifn's filings with the Securities and Exchange Commission. Hifn expressly disclaims any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in Hifn's most recent reports on Form 10-K and Form 10-Q. Hifn's results of operations for the three months ended March 31, 2008 are not necessarily indicative of Hifn's operating results for any future periods. Any projections in this release are based on limited information currently available to Hifn and speak only as of the date of this release.

    Hi/fn(R) is a registered trademark of hi/fn, inc. Hifn is a trademark of hi/fn, inc.

    HIFN, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) Three Months Ended Six Months Ended March 31, March 31, 2008 2007 2008 2007 Net revenues $9,265 $11,029 $20,194 $20,298 Costs and operating expenses: Cost of revenues 3,122 3,596 6,594 6,800 Research and development 3,496 3,101 7,098 7,420 Sales and marketing 2,930 2,117 5,324 3,939 General and administrative 1,275 2,658 2,997 5,100 Amortization of intangibles 749 738 1,498 1,475 11,572 12,210 23,511 24,734 Loss from operations (2,307) (1,181) (3,317) (4,436) Interest and other income, net 284 490 629 980 Loss before income taxes (2,023) (691) (2,688) (3,456) Provision for (benefit from) income taxes 11 16 26 (47) Net loss $(2,034) $(707) $(2,714) $(3,409) Net loss per share, basic and diluted $(0.14) $(0.05) $(0.18) $(0.24) Weighted average shares outstanding, basic and diluted 14,859 13,973 14,818 13,960 HIFN, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) March 31, September 30, 2008 2007 ASSETS Current assets: Cash & short-term investments $38,504 $35,322 Accounts receivable, net 6,981 7,450 Inventories 2,817 2,784 Prepaid expenses and other current assets 1,143 1,428 Total current assets 49,445 46,984 Other receivables 164 189 Property and equipment, net 2,132 1,982 Goodwill, intangibles and other assets, net 7,987 9,811 $59,728 $58,966 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $2,191 $1,467 Accrued expenses and other current liabilities 4,343 4,051 Total current liabilities 6,534 5,518 Stockholders' equity: Common stock 15 15 Paid-in capital 174,042 171,573 Accumulated other comprehensive loss (6) 3 Accumulated deficit (116,430) (113,716) Treasury stock, at cost (4,427) (4,427) Total stockholders' equity 53,194 53,448 $59,728 $58,966 HIFN, INC. RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES (in thousands, except per share data) (unaudited) Three Months Ended Six Months Ended March 31, March 31, 2008 2007 2008 2007 GAAP net loss $(2,034) $(707) $(2,714) $(3,409) Reconciling items: Stock-based compensation expense 537 544 970 987 Amortization of intangibles 749 738 1,498 1,475 Non-GAAP net income (loss) $(748) $575 $(246) $(947) GAAP basic net loss per share $(0.14) $(0.05) $(0.18) $(0.24) Reconciling items: Stock-based compensation expense 0.04 0.04 0.06 0.07 Amortization of intangibles 0.05 0.05 0.10 0.10 Non-GAAP basic net income (loss) per share $(0.05) $0.04 $(0.02) $(0.07) GAAP diluted net loss per share $(0.14) $(0.05) $(0.18) $(0.24) Reconciling items: Stock-based compensation expense 0.04 0.04 0.06 0.07 Amortization of intangibles 0.05 0.05 0.10 0.10 Non-GAAP diluted net income (loss) per share $(0.05) $0.04 $(0.02) $(0.07) Shares used to calculate GAAP net loss per share: Basic 14,859 13,973 14,818 13,960 Diluted 14,859 13,973 14,818 13,960 Shares used to calculate non-GAAP net income (loss) per share: Basic 14,859 13,973 14,818 13,960 Diluted 14,859 14,182 14,818 13,960

    Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070723/CLM036LOGO
    AP Archive: http://photoarchive.ap.org/
    PRN Photo Desk, photodesk@prnewswire.com Hifn, Inc.

    CONTACT: William R. Walker, Vice President and Chief Financial Officer,
    of Hifn, Inc., +1-408-399-3537, wwalker@hifn.com

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




    GSI Commerce to Participate in Two Investor Conferences in May

    KING OF PRUSSIA, Pa., May 1 /PRNewswire-FirstCall/ -- Leading e-commerce solutions provider, GSI Commerce Inc. , today announced that both Michael G. Rubin, the company's chairman, president and chief executive officer, and Michael R. Conn, the company's chief financial officer, are scheduled to participate at the Third Annual Needham & Company Internet and Digital Media Conference to be held May 8, in New York, N.Y., and also at the Goldman Sachs Ninth Annual Internet Conference to be held May 21 in Las Vegas, Nev.

    GSI will present at the Needham & Co. conference on Thurs., May 8 at 1:30 p.m. EDT. A live audio webcast will be available to the public at http://www.wsw.com/webcast/needham24/gsic. GSI will present at the Goldman Sachs conference on Wed., May 21 at 2:35 p.m. PDT. A live audio webcast will be available to the public at http://cc.talkpoint.com/GOLD006/052108a_mg/?entity=gsicomm.

    About GSI Commerce

    GSI Commerce(R) (http://www.gsicommerce.com/) is a leading provider of services that enable e-commerce, multichannel retailing and interactive marketing for large, business-to-consumer (b2c) enterprises in the U.S. and internationally. We deliver customized e-commerce solutions through an e-commerce platform, which is comprised of technology, fulfillment and customer care. We offer each of the platform's components on a modular basis, or as part of an integrated, end-to-end solution. We also offer a full suite of interactive marketing services through two divisions, gsi interactive(SM) and e-Dialog Inc.

    Forward-Looking Statements

    This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements to be made during the presentation, including those in the tape recording, live audio and live Webcast of the presentation, other than statements of historical fact, are or will be forward-looking statements. Actual results might differ materially from what is expressed or implied by these forward- looking statements. Additional information about potential factors that could affect GSI Commerce can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed by GSI Commerce with the SEC. GSI Commerce expressly disclaims any intent or obligation to update these forward-looking statements.

    Contact: GSI Commerce, Inc. Corporate Marketing 610.491.7474 Fax: 610.265.2866 news@gsicommerce.com

    GSI Commerce Inc.

    CONTACT: GSI Commerce, Inc. Corporate Marketing, +1-610-491-7474, Fax,
    +1-610-265-2866, news@gsicommerce.com

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




    Entravision Communications Corporation Reports First Quarter 2008 Results- First Quarter 2008 Net Revenue Decreases 2% -- Repurchases 3.4 Million Shares in the First Quarter -- Completes First $100 Million Repurchase Plan Authorized on November 1, 2006 -

    SANTA MONICA, Calif., May 1 /PRNewswire-FirstCall/ -- Entravision Communications Corporation today reported financial results for the three-month period ended March 31, 2008.

    Historical results, which are attached, are in thousands of U.S. dollars (except share and per share data). The results of our outdoor operations are presented in discontinued operations within the statements of operations in accordance with SFAS 144, "Accounting for the Impairment or Disposal of Long-Lived Assets." This press release contains certain non-GAAP financial measures as defined by SEC Regulation G. The GAAP financial measure most directly comparable to each of these non-GAAP financial measures, and a table reconciling each of these non-GAAP financial measures to its most directly comparable GAAP financial measure, is included beginning on page 7. Unaudited financial highlights are as follows:

    Three-Month Period Ended March 31, 2008 2007 % Change Net revenue $55,653 $56,895 (2)% Operating expenses (1) 35,409 35,045 1 % Corporate expenses (2) 4,454 4,630 (4)% Consolidated adjusted EBITDA (3) 15,036 17,232 (13)% Free cash flow (4) $2,661 $6,647 (60)% Free cash flow per share, basic and diluted (4) $0.03 $0.06 (50)% Net loss (income) from continuing operations $(7,050) $908 NM Net loss applicable to common stockholders $(7,704) $(3,287) 134% Net loss (income) per share from continuing operations applicable to common stockholders, basic and diluted $(0.07) $0.01 NM Net loss per share applicable to common stockholders, basic and diluted $(0.08) $(0.03) 167% Weighted average common shares outstanding, basic 95,416,338 103,859,772 Weighted average common shares outstanding, diluted 95,416,338 104,285,879 (1) Operating expenses include direct operating, selling, general and administrative expenses. Included in operating expenses are $0.3 million and $0.4 million of non-cash stock-based compensation for the three-month periods ended March 31, 2008 and 2007, respectively. Operating expenses do not include corporate expenses, depreciation and amortization, and gain (loss) on sale of assets. (2) Corporate expenses include $0.4 million and $0.6 million of non-cash stock-based compensation for the three-month periods ended March 31, 2008 and 2007, respectively. (3) Consolidated adjusted EBITDA means net income (loss) plus (gain) loss on sale of assets, depreciation and amortization, non-cash stock-based compensation included in operating and corporate expenses, net interest expense, income tax expense (benefit), equity in net income (loss) of nonconsolidated affiliate and syndication programming amortization less syndication programming payments. We use the term consolidated adjusted EBITDA because that measure is defined in our syndicated bank credit facility and does not include (gain) loss on sale of assets ,depreciation and amortization, non-cash stock-based compensation, net interest expense, income tax expense (benefit), equity in net income (loss) of nonconsolidated affiliate and syndication programming amortization and does include syndication programming payments. While many in the financial community and we consider consolidated adjusted EBITDA to be important, it should be considered in addition to, but not as a substitute for or superior to, other measures of liquidity and financial performance prepared in accordance with accounting principles generally accepted in the United States of America, such as cash flows from operating activities, operating income and net income. As consolidated adjusted EBITDA excludes non-cash (gain) loss of sales of assets, non-cash depreciation and amortization, non-cash stock-based compensation, net interest expense, income tax expense (benefit), equity in net income (loss) of nonconsolidated affiliate and syndication programming amortization and includes syndication programming payments, consolidated adjusted EBITDA has certain limitations because it excludes and includes several important non-cash financial line items. Therefore, we consider both non-GAAP and GAAP measures when evaluating our business. (4) Free cash flow is defined as consolidated adjusted EBITDA less cash paid for income taxes, net interest expense and capital expenditures. Net interest expense is defined as interest expense, less non-cash interest expense relating to amortization of debt finance costs, less interest income less the change in the fair value of our interest rate swaps. Free cash flow per share is defined as free cash flow divided by the diluted weighted average common shares outstanding.

    Commenting on the Company's earnings results, Walter Ulloa, Chairman and Chief Executive Officer, said, "During the first quarter we continued to execute on our strategic plan and strengthen the position of our television and radio stations in a challenging advertising environment due to general economic conditions. We also faced difficult comparisons in our operational results compared to the year ago period, when we outperformed the industry with robust results from both our television and radio divisions. We remain well positioned to capitalize on the expanding purchasing power of the Hispanic consumer. We are prudently investing in our broadcasting assets to build audience share, penetrating new business and maintaining our disciplined cost approach. We have a strong balance sheet and the pending sale of our outdoor advertising assets for $100 million will provide us with substantial financial flexibility to execute on our growth initiatives and build value for our shareholders."

    The Company also announced that it repurchased 3.4 million shares of Class A common stock for approximately $22.4 million in the first quarter of 2008. Additionally, the Company announced that it repurchased 1.3 million shares of Class A common stock for approximately $8.4 million in the second quarter of 2008 thus completing the $100 million repurchase program authorized by the Company's Board of Directors on November 1, 2006. The Company's Board of Directors approved the repurchase of an additional $100 million of the Company's common stock on April 7, 2008.

    Financial Results Three Months Ended March 31, 2008 Compared to Three Months Ended March 31, 2007 (Unaudited) Three-Month Period Ended March 31, 2008 2007 % Change Net revenue $55,653 $56,895 (2)% Operating expenses (1) 35,409 35,045 1 % Corporate expenses (1) 4,454 4,630 (4)% Depreciation and amortization 5,545 5,720 (3)% Operating income 10,245 11,500 (11)% Interest expense, net (22,164) (9,846) 125 % Income (loss) before income taxes (11,919) 1,654 NM Income tax (expense) benefit 4,995 (746) NM Net income (loss) before equity in net loss of nonconsolidated affiliates and discontinued operations (6,924) 908 NM Equity in net loss of nonconsolidated affiliates (126) - NM Income (loss) from continuing operations (7,050) 908 NM Loss from discontinued operations, net of tax (654) (4,195) (84)% Net loss $(7,704) $(3,287) 134 % (1) Operating expenses and corporate expenses are defined on page 1.

    Net revenue decreased to $55.7 million for the three-month period ended March 31, 2008 from $56.9 million for the three-month period ended March 31, 2007, a decrease of $1.2 million. Of the overall decrease, $0.7 million came from our television segment and was primarily attributable to a decrease in national advertising sales, primarily due to a decrease in advertising rates. Additionally, $0.5 million of the overall decrease came from our radio segment and was primarily attributable to a decrease in local advertising sales, primarily due to a decrease in inventory sold and a decrease in advertising rates.

    Operating expenses increased to $35.4 million for the three-month period ended March 31, 2008 from $35.0 million for the three-month period ended March 31, 2007, an increase of $0.4 million. The increase was primarily attributable to an increase in wages, syndication amortization and rent expense, partially offset by a decrease in national representation fees and other expenses associated with the decrease in net revenue.

    Corporate expenses decreased to $4.5 million for three-month period ended March 31, 2008 from $4.6 million for the three-month period ended March 31, 2007, a decrease of $0.1 million. The decrease was primarily attributable to a decrease in non-cash stock-based compensation.

    Segment Results The following represents selected unaudited segment information: Three-Month Period Ended March 31, 2008 2007 % Change Net Revenue Television $36,105 $36,791 (2) % Radio 19,548 20,104 (3) % Total $55,653 $56,895 (2) % Operating Expenses (1) Television $21,513 $21,494 0 % Radio 13,896 13,551 3 % Total $35,409 $35,045 1 % Corporate Expenses (1) $4,454 $4,630 (4)% Consolidated adjusted EBITDA (1) $15,036 $17,232 (13)% (1) Operating expenses, Corporate expenses, and Consolidated adjusted EBITDA are defined on page 1. Guidance

    The following is the Company's guidance for the second quarter of 2008. Guidance constitutes a "forward-looking statement." Please see below regarding statements that are forward-looking.

    Operating expenses and corporate expenses include non-cash stock-based compensation to comply with Statement of Financial Accounting Standards ("SFAS") No. 123 (Revised 2004), "Share-Based Payment" ("SFAS 123R"). The Company expects approximately $0.4 million in operating expenses and $0.5 million in corporate expenses related to equity compensation in the second quarter of 2008.

    For the second quarter of 2008, the Company expects net revenues to decrease by low- to mid-single digit percentages and operating expenses to increase by low-single digit percentages as compared to the second quarter of 2007. Excluding the non-cash stock-based compensation, corporate expenses are expected to be approximately flat as compared to the second quarter of 2007.

    Entravision Communications Corporation will hold a conference call to discuss its 2008 first quarter results on May 1, 2008 at 5 p.m. Eastern Time. To access the conference call, please dial 212-231-2918 ten minutes prior to the start time. The call will be webcast live and archived for replay at http://www.entravision.com/.

    Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television and radio operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision is the largest affiliate group of both the top-ranked Univision television network and Univision's TeleFutura network, with television stations in 20 of the nation's top 50 Hispanic markets. The company also operates one of the nation's largest groups of primarily Spanish-language radio stations, consisting of 48 owned and operated radio stations. Entravision shares of Class A Common Stock are traded on The New York Stock Exchange under the symbol: EVC.

    This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company's filings with the Securities and Exchange Commission.

    (Financial Tables Follow) Entravision Communications Corporation Consolidated Statements of Operations (In thousands, except share and per share data) (Unaudited) Three-Month Period Ended March 31, 2008 2007 Net revenue (including related parties of $150 and $150) $55,653 $56,895 Expenses: Direct operating expenses (including related parties of $2,493 and $2,727) (including non-cash stock-based compensation of $124 and $153) 24,734 24,216 Selling, general and administrative expenses (including non-cash stock-based compensation of $155 and $267) 10,675 10,829 Corporate expenses (including non-cash stock-based compensation of $435 and $647) 4,454 4,630 Depreciation and amortization (includes direct operating of $4,344 and $4,478; selling, general and administrative of $1,002 and $1,027; and corporate of $199 and $215) (including related parties of $580 and $580) 5,545 5,720 45,408 45,395 Operating income 10,245 11,500 Interest expense (including related parties of $58 and $73) (22,595) (11,110) Interest income 431 1,264 Income (loss) before income taxes (11,919) 1,654 Income tax (expense) benefit 4,995 (746) Income (loss) before equity in net loss of nonconsolidated affiliate and discontinued operations (6,924) 908 Equity in net loss of nonconsolidated affiliate (including non-cash stock-based compensation of $0 and $2) (126) - Income (loss) from continuing operations (7,050) 908 Loss from discontinued operations, net of tax benefit of $973 and $2,646 (654) (4,195) Net loss applicable to common stockholders $(7,704) $(3,287) Basic and diluted earnings per share: Net income (loss) per share from continuing operations applicable to common stockholders, basic and diluted $(0.07) $0.01 Net loss per share from discontinued operations, basic and diluted $(0.01) $(0.04) Net loss per share applicable to common stockholders, basic and diluted $(0.08) $(0.03) Weighted average common shares outstanding, basic 95,416,338 103,859,772 Weighted average common shares outstanding, diluted 95,416,338 104,285,879 Entravision Communications Corporation Consolidated Statements of Cash Flows (In thousands, except share and per share data) (Unaudited) Three-Month Period Ended March 31, 2008 2007 Cash flows from operating activities: Net loss $(7,704) $(3,287) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 5,545 5,720 Deferred income taxes (5,217) (2,365) Amortization of debt issue costs 101 101 Amortization of syndication contracts 866 16 Payments on syndication contracts (707) (19) Equity in net loss of nonconsolidated affiliate 126 - Non-cash stock-based compensation 714 1,067 Change in fair value of interest rate swap agreements 14,043 3,286 Changes in assets and liabilities, net of effect of acquisitions and dispositions: Decrease in accounts receivable 6,475 2,716 Increase in prepaid expenses and other assets (655) (453) Decrease in accounts payable, accrued expenses and other liabilities (1,101) (3,262) Effect of discontinued operations (661) 8,106 Net cash provided by operating activities 11,825 11,626 Cash flows from investing activities: Proceeds from sale of property and equipment and intangibles 91 - Purchases of property and equipment and intangibles (4,004) (3,425) Purchase of a business (22,885) - Effect of discontinued operations (130) (359) Net cash used in investing activities (26,928) (3,784) Cash flows from financing activities: Proceeds from issuance of common stock 486 2,552 Payments on long-term debt (10,027) (76) Repurchase of Class U common stock (10,380) - Repurchase of Class A common stock (22,500) (2,840) Excess tax benefits from exercise of stock options - 123 Net cash used in financing activities (42,421) (241) Net increase (decrease) in cash and cash equivalents (57,524) 7,601 Cash and cash equivalents: Beginning 86,945 118,525 Ending $29,421 $126,126 Entravision Communications Corporation Reconciliation of Consolidated Adjusted EBITDA to Cash Flows From Operating Activities (Unaudited; in thousands)

    The most directly comparable GAAP financial measure is operating cash flow. A reconciliation of this non-GAAP measure to cash flows from operating activities for each of the periods presented is as follows:

    Three-Month Period Ended March 31, 2008 2007 Consolidated adjusted EBITDA (1) $15,036 $17,232 Interest expense (22,595) (11,110) Interest income 431 1,264 Income tax (expense) benefit 4,995 (746) Income tax benefit in discontinued operations 973 2,646 Amortization of syndication contracts (866) (16) Payments on syndication contracts 707 19 Non-cash stock-based compensation included in direct operating expenses (124) (153) Non-cash stock-based compensation included in selling, general and administrative expenses (155) (267) Non-cash stock-based compensation included in corporate expenses (435) (647) Depreciation and amortization (5,545) (5,720) Depreciation and amortization in discontinued operations - (5,789) Equity in net loss of nonconsolidated affiliates (126) - Net loss (7,704) (3,287) Depreciation and amortization 5,545 5,720 Deferred income taxes (5,217) (2,365) Amortization of debt issue costs 101 101 Amortization of syndication contracts 866 16 Payments on syndication contracts (707) (19) Equity in net loss of nonconsolidated affiliate 126 - Non-cash stock-based compensation 714 1,067 Change in fair value of interest rate swap agreements 14,043 3,286 Changes in assets and liabilities, net of effect of acquisitions and dispositions: Decrease in accounts receivable 6,475 2,716 Increase in prepaid expenses and other assets (655) (453) Decrease in accounts payable, accrued expenses and other liabilities (1,101) (3,262) Effect of discontinued operations (661) 8,106 Cash flows from operating activities $11,825 $11,626 (1) Consolidated adjusted EBITDA is defined on page 1. Entravision Communications Corporation Reconciliation of Free Cash Flow to Net Income (Loss) (Unaudited; in thousands)

    The most directly comparable GAAP financial measure is net income (loss). A reconciliation of this non-GAAP measure to net income (loss) for each periods presented is as follows:

    Three-Month Period Ended March 31, 2008 2007 Consolidated adjusted EBITDA (1) $15,036 $17,232 Net interest expense (1) 8,020 6,459 Cash paid for income taxes 222 342 Capital expenditures (2) 4,133 3,784 Free cash flow (1) 2,661 6,647 Capital expenditures (2) 4,133 3,784 Non-cash interest (expense) income relating to amortization of debt finance costs and interest rate swap agreements (14,144) (3,387) Non-cash income tax benefit 6,190 2,242 Amortization of syndication contracts (866) (16) Payments on syndication contracts 707 19 Non-cash stock-based compensation included in direct operating expenses (124) (153) Non-cash stock-based compensation included in selling, general and administrative expenses (155) (267) Non-cash stock-based compensation included in corporate expenses (435) (647) Depreciation and amortization (5,545) (5,720) Depreciation and amortization in discontinued operations - (5,789) Equity in net loss of nonconsolidated affiliates (126) - Net loss $(7,704) $(3,287) (1) Consolidated adjusted EBITDA, net interest expense and free cash flow are defined on page 1. (2) Capital expenditures is not part of the consolidated statement of operations.

    Entravision Communications Corporation

    CONTACT: John DeLorenzo, Chief Financial Officer of Entravision
    Communications Corporation, +1-310-447-3870; or Mike Smargiassi or Joe
    Kessler, both of Brainerd Communicators, Inc., +1-212-986-6667, for
    Entravision Communications Corporation

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




    DATATRAK International Management to Host Conference Call on May 8, 2008 to Discuss First Quarter Operating Results for 2008

    CLEVELAND, May 1 /PRNewswire-FirstCall/ -- DATATRAK International, Inc. , a technology and services company focused on global eClinical solutions for the clinical trials industry, today announced that it will host a conference call to discuss first quarter operating results for 2008 at 4:30 p.m. ET on Thursday, May 8, 2008.

    To participate via phone, participants are asked to dial 412-858-4600 a few minutes before 4:30 p.m. ET. The conference call will also be available via live web cast on DATATRAK International, Inc.'s web site by clicking the button labeled "Click here for Live Web Cast, 1st Quarter Earnings Call" on the Company's homepage at http://www.datatrak.net/ a few minutes before 4:30 p.m. ET.

    A replay of the phone call and web cast will each be available at approximately 6:30 p.m. ET on May 8, 2008 and will run until 9:00 a.m. ET on May 15, 2008. The phone replay can be accessed by dialing 412-317-0088 (access code 419020). To access the web cast replay go to the Company's homepage at http://www.datatrak.net/ and click the button labeled "Click here for Replay of Web Cast, 1st Quarter Earnings Call."

    DATATRAK International, Inc. is a worldwide technology company focused on the provision of multi-component eClinical solutions and related services for the clinical trials industry. The Company delivers a complete portfolio of software products that were created in order to accelerate clinical research data from investigative sites to clinical trial sponsors and ultimately the FDA, faster and more efficiently than manual methods or loosely integrated technologies. The DATATRAK eClinical(TM) software suite can be deployed worldwide through an ASP offering or in a licensed Enterprise Transfer ASP model that fully empowers clients to design, set up and manage their clinical trials independently. The DATATRAK software suite and its earlier versions have successfully supported hundreds of international clinical trials involving thousands of clinical research sites and encompassing tens of thousands of patients in 59 countries. DATATRAK International, Inc.'s product suite has been utilized in some aspect of the clinical development of 16 separate drugs and one medical device that have received regulatory approval from either the United States Food and Drug Administration or counterpart European bodies. DATATRAK International, Inc. has offices located in Cleveland, Ohio, Bonn, Germany, and Bryan, Texas. Its common stock is listed on the NASDAQ Stock Market under the ticker symbol "DATA". Visit the DATATRAK International, Inc. web site at http://www.datatrak.net/.

    Except for the historical information contained in this press release, the statements made in this release are forward-looking statements. These forward- looking statements are made based on management's expectations, assumptions, estimates and current beliefs concerning the operations, future results and prospects of the Company and are subject to uncertainties and factors (including those specified below) which are difficult to predict and, in many instances, are beyond the control of the Company. Factors that may cause actual results to differ materially from those in the forward-looking statements include the limited operating history on which the Company's performance can be evaluated; the ability of the Company to continue to enhance its software products to meet customer and market needs; fluctuations in the Company's quarterly results; the viability of the Company's business strategy and its early stage of development; the timing of clinical trial sponsor decisions to conduct new clinical trials or cancel or delay ongoing trials; the Company's dependence on major customers; government regulation associated with clinical trials and the approval of new drugs; the ability of the Company to compete in the emerging EDC market; losses that potentially could be incurred from breaches of contracts or loss of customer data; the inability to protect intellectual property rights or the infringement upon other's intellectual property rights; the Company's success in integrating its acquisition's operations into its own operations and the costs associated with maintaining and/or developing two product suites; and general economic conditions such as the rate of employment, inflation, interest rates and the condition of capital markets. This list of factors is not all-inclusive. In addition, the Company's success depends on the outcome of various strategic initiatives it has undertaken, all of which are based on assumptions made by the Company concerning trends in the clinical research market and the health care industry. The Company undertakes no obligation to update publicly or revise any forward-looking statement whether as a result of new information, future events or otherwise.

    CONTACT: Jeffrey A. Green, Pharm.D., FCP President and Chief Executive Officer DATATRAK International, Inc. 440/443-0082 x112 Raymond J. Merk Chief Financial Officer DATATRAK International, Inc. 440/443-0082 x181 Neal Feagans Investor Relations Feagans Consulting, Inc. 303/449-1184

    DATATRAK International, Inc.

    CONTACT: Jeffrey A. Green Pharm.D., FCP, President and Chief Executive
    Officer, +1-440-443-0082, x112, or Raymond J. Merk, Chief Financial Officer,
    +1-440-443-0082, x181, both of DATATRAK, International, Inc.; Neal Feagans,
    Investor Relations, Feagans Consulting, Inc., +1-303-449-1184

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




    Image Sensing Systems Announces First Quarter Financial Results

    SAINT PAUL, Minn., May 1 /PRNewswire-FirstCall/ -- Image Sensing Systems, Inc. , announced today record financial results for its first quarter ended March 31, 2008.

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

    Net income for the first quarter was $1.1 million ($.26 per fully diluted share) compared to $556,000 ($0.14 per fully diluted share) for the same period in 2007. Revenues for the first quarter were $5.9 million compared to $2.6 million for the same period a year ago. Revenue from royalties increased 26% to $2.9 million from $2.3 million in the first quarter of 2007 and reflects the continued success of our North American distributor, Econolite Control Products, Inc. (ECPI), in selling Autoscope(R) products in the United States and Canada. North American sales, which are sales of RTMS(R) in North America, were $1.6 million. International sales, which include both Autoscope and RTMS sales outside of North America, were $1.4 million in the first quarter, a four-fold increase over $353,000 in the same period in 2007. Sales of RTMS world-wide for the quarter were $1.8 million. We acquired the RTMS family of products in December 2007.

    On a non-GAAP basis, excluding intangible asset amortization net of tax, net income for the quarter increased 113% to $1.2 million ($.29 per fully diluted share) and operating income increased 162% to $1.7 million as compared to the first quarter of 2007.

    Ken Aubrey, CEO, said, "Our results reflect continued strong organic growth in our core business in addition to the solid performance of our recent acquisition despite what is typically the seasonally slowest quarter of the year. We executed well across all product lines and regions including the newly acquired RTMS radar family and were the beneficiary of several large projects internationally.

    "We look forward to beginning shipments of the next generation RTMS G4 in the second quarter of 2008 and concluding some important enhancements for Autoscope Terra. We believe this should position us well for the remainder of 2008."

    New Bank Financing

    On May 1, 2008, we entered into three loan agreements with Associated Bank that replace our previous arrangements with Wells Fargo. The first two agreements include a three-year amortizing $3 million term loan and a three- year $5 million revolving line of credit. Under the agreements we have drawn fully the $3 million term loan and have advanced $2 million on the line of credit. A major benefit of the new agreements is that we are required to pledge only our auction rate securities (ARS) as collateral and the borrowings are based on an advance formula which includes ARS and receivables. This has freed up over $3.5 million in money market funds that were pledged under the Wells Fargo arrangement. The third agreement is a $10 million guidance facility to be used for future acquisitions. The use of the facility is subject to lender due diligence and meeting certain debt service ratios. We refer you to our Current Report on 8-K filed with the SEC dated May 1, 2008 for further detail.

    Auction Rate Security Update

    We continue to hold $5.5 million in face value of student loan backed ARS, substantially all of which are Federal government backed under the Federal Family Education Loan Program. All auctions since mid-February involving our ARS have failed. We continue to believe that the underlying credit quality of the ARS is excellent and that the main problem remains illiquidity. Based on an analysis of the ARS fair value, we have determined there is a temporary impairment and have recorded an unrealized loss of $251,000 ($166,000 net of tax) and have reclassified the ARS as long-term assets at March 31, 2008. The unrealized loss does not flow through our income statement, rather it is recorded directly to shareholders' equity as a component of accumulated other comprehensive income/loss. There is uncertainty in the ARS market and, should circumstances change, we may deem the impairment to be other than temporary or otherwise adjust our analysis.

    Non-GAAP Information

    We provide certain non-GAAP financial information as supplemental information to GAAP amounts. This non-GAAP information excludes the impact, net of tax, of amortizing the intangible assets from the EIS asset purchase that occurred in December 2007. Management believes that this presentation facilitates the comparison of our current operating results to historical operating results. Management uses this non-GAAP information to evaluate short-term and long-term operating trends in our core operations. Non-GAAP information is not prepared in accordance with GAAP and should not be considered a substitute for or an alternative to GAAP financial measures and may not be computed the same as similarly titled measures used by other companies.

    About Image Sensing

    Image Sensing Systems, Inc. is a technology company specializing in software-based detection solutions for the Intelligent Transportation Systems (ITS) sector and adjacent overlapping markets. Our industry leading computer enabled detection (CED) products, including the Autoscope(R) machine-vision family and the RTMS(R) radar family, combine embedded software signal processing with sophisticated sensing technologies for use in transportation and safety/surveillance management. CED is a group of technologies in which software, rather than humans, examines the outputs of complex sensors to determine what is happening in the field of view in real-time. With more than 80,000 instances sold in over 60 countries worldwide, our depth of experience coupled with breadth of product portfolio uniquely positions us to provide powerful hybrid technology solutions and to exploit the convergence of the traffic, security and environmental management markets. We are headquartered in St. Paul, Minnesota. Visit us on the web at imagesensing.com.

    Safe Harbor Statement: Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management's current expectations or beliefs, and are subject to risks and uncertainties that could cause actual results or events to vary from stated expectations, which variations could be material and adverse. Factors that could produce such a variation include, but are not limited to, the following: the inherent unreliability of earnings, revenue and cash flow predictions due to numerous factors, many of which are beyond the Company's control; developments in the demand for the Company's products and services; relationships with the Company's major customers and suppliers; unanticipated delays, costs and expenses inherent in the development and marketing of new products and services; the impact of governmental laws and regulations; and competitive factors. Our forward-looking statements speak only as of the time made, and we assume no obligation to publicly update any such statements. Additional information concerning these and other factors that could cause actual results and events to differ materially from the Company's current expectations are contained in the Company's reports and other documents filed with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2007.

    Image Sensing Systems, Inc. Condensed Consolidated Statements of Income (in thousands, except per share information) (unaudited) Three-Month Period Ended March 31, 2008 2007 Revenue Royalties $2,892 $2,291 North American sales 1,625 - International sales 1,355 353 5,872 2,644 Cost of revenue Cost of sales 1,202 127 Gross profit 4,670 2,517 Operating expenses Selling, marketing and product support 1,333 685 General and administrative 888 570 Research and development 701 594 Amortization of intangible assets 192 - 3,114 1,849 Income from operations 1,556 668 Other income, net 41 138 Income before income taxes 1,597 806 Income taxes 541 250 Net income $1,056 $556 Net income per common share Basic $0.27 $0.15 Diluted $0.26 $0.14 Weighted average shares outstanding Basic 3,928 3,774 Diluted 4,026 3,888 Image Sensing Systems, Inc. Condensed Consolidated Statements of Income Reconciliation of GAAP to non-GAAP basis (in thousands, except per share information) (unaudited) GAAP Non-GAAP basis adjustments basis Quarter ended March 31, 2008 Revenue $ 5,872 $- $ 5,872 Cost of revenue 1,202 - 1,202 Gross profit 4,670 - 4,670 Operating expenses 3,114 (192)(1) 2,922 Income from operations 1,556 192 1,748 Other income 41 - 41 Income before income taxes 1,597 192 1,789 Income taxes 541 65(2) 606 Net income $1,056 $127 $1,183 Basic net income per share $0.27 $0.30 Diluted net income per share $0.26 $0.29 Weighted shares - basic 3,928 3,928 Weighted shares - diluted 4,026 4,026 Notes to adjustments (1) Intangible asset amortization for quarter (2) Income tax expense impact of (1) at ISS' marginal tax rate of 34% Image Sensing Systems, Inc. Condensed Consolidated Balance Sheet (in thousands) (unaudited) March 31, December 31, 2008 2007 Assets Current assets Cash and cash equivalents (including restricted cash) $6,559 $10,876 Receivables, net 5,273 4,997 Inventories 1,888 1,579 Prepaid expenses and deferred taxes 492 370 14,212 17,822 Property and equipment, net 639 700 Investments, net of valuation allowance 5,199 - Deferred income taxes 1,826 1,676 Goodwill and intangible assets, net 9,948 10,140 $31,824 $30,338 Liabilities and Shareholders' Equity Current liabilities Accounts payable and accrued expenses $ 1,916 $ 2,029 Bank debt 5,000 5,000 Income taxes payable 674 - 7,590 7,029 Income taxes payable - 84 Shareholders' equity 24,234 23,225 $31,824 $30,338 Image Sensing Systems, Inc. Condensed Consolidated Statement of Cash Flows (in thousands) (unaudited) Three-Month Period Ended March 31, 2008 2007 Operating activities Net income $1,056 $556 Adjustments to reconcile net income to net cash provided by (used in) operations Depreciation and amortization 290 57 Stock option expense 73 29 Changes in operating assets and liabilities (249) (722) Net cash provided by (used in) operating activities 1,170 (80) Investing activities Purchase of property and equipment, net of disposals (37) 4 Sale (purchase) of investments (5,450) 1,000 Net cash provided by (used in) investing activities (5,487) 1,004 Financing activity - proceeds from exercise of stock options - 30 Increase (decrease) in cash and cash equivalents (4,317) 954 Cash and cash equivalents, beginning of period 10,876 11,626 Cash and cash equivalents, end of period $6,559 $12,580

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

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

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




    Photon Dynamics Reports Fiscal 2008 Second Quarter Results

    SAN JOSE, Calif., May 1 /PRNewswire-FirstCall/ -- Photon Dynamics, Inc. today reported financial results for the second quarter of fiscal year 2008, ended March 31, 2008.

    Revenue for the second quarter of fiscal 2008 was $45.1 million, compared to first quarter fiscal 2008 revenue of $16.2 million and second quarter of 2007 of $13.9 million. Net income for the second quarter was $3.9 million or $0.21 earnings per diluted share, compared to first quarter net loss of $8.2 million or $0.46 loss per share and a loss of $15.7 million or $0.95 loss per share for the second quarter a year ago.

    Net income for the second quarter of fiscal 2008 reflects a net of $0.3 million in charges related to the following items:

    -- Stock-based employee compensation expense of $0.5 million -- Recovery of previously reserved inventory of $1.9 million -- Amortization of intangible assets of $0.9 million -- Restatement-related expenses of $0.9 million

    Second quarter non-GAAP net income was $4.2 million or $0.23 earnings per diluted share, compared to first quarter non-GAAP net loss of $5.7 million or $0.31 loss per share and non-GAAP loss of $10.9 million or $0.66 loss per share for the second quarter a year ago. A reconciliation of these non-GAAP measures is provided after the GAAP financial statements below.

    Bookings for the second quarter of fiscal 2008 reached $80.0 million, and the Company posted a shippable backlog of $125.6 million at the end of March 2008. The Company noted that bookings and backlog are not necessarily indicative of future revenue and that historically bookings have fluctuated on a quarter-to-quarter basis. These fluctuations in bookings may continue in the future. The Company's cash, cash equivalents, short-term and long term investments were $65.2 million as of March 31, 2008.

    Jeff Hawthorne, president and chief executive officer, commented, "Our second consecutive quarter of record bookings and our return to profitability demonstrate the execution of our strategic initiatives to enhance our competitiveness and drive to sustained profitability. With steady implementation of our strategic initiatives and with the shippable backlog of $125.6 million at the end of March, we are solidly poised to capitalize on the current growth cycle. We remain sharply focused on enhancing our profitability through a cycle. I appreciate all employees for their relentless hard work and dedication which facilitated our business wins."

    Company Projections for Fiscal Year 2008 Third Quarter

    The Company estimates revenue for the third quarter of fiscal 2008 to be between $41.0 and $45.0 million, with earnings per diluted share between $0.20 and $0.24 on a GAAP basis.

    Information Regarding Non-GAAP Financial Measures

    Photon Dynamics provides non-GAAP net income and earnings per share data in addition to its operating results. These measures are not in accordance with or an alternative for GAAP, and may be different from non-GAAP measures used by other companies. Photon Dynamics' non-GAAP net income or loss and non-GAAP earnings per diluted share exclude the effect of SFAS 123 (R), gain or loss on sale of fixed assets, amortization of intangible assets, and restatement-related expenses. Management believes that these non-GAAP financial measures can enhance the comparability of historical results, and as a result uses these measures in making financial, operating and planning decisions and in evaluating the Company's performance.

    Second Quarter Earnings Conference Call

    The Company will host a quarterly conference call today at 4:30 p.m. EDT. To access the conference call in the U.S. or Canada, dial (800) 240-4186. For all international calls, dial (303) 262-2075.

    A digital replay will be available on Photon Dynamics' website at http://www.photondynamics.comunder/ "Events and Webcasts" in the 'Investors' section of the website two hours after the conclusion of the conference until such time as Photon Dynamics issues a press release announcing its third quarter fiscal 2008 financial results.

    You may access the telephone replay by dialing (800) 405-2236 or (303) 590-3000 and entering access code 11112456.

    About Photon Dynamics, Inc.

    Photon Dynamics, Inc. is a global supplier utilizing advanced machine vision technology for market leading Liquid Crystal Display (LCD) flat panel display test and repair systems and for high performance digital imaging systems for defense, surveillance, industrial inspection and medical imaging applications. For more information about Photon Dynamics, visit its website at http://www.photondynamics.com/.

    "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

    This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as PDI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe our business strategy, outlook, objectives, projections, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are based on current expectations as of the date of this press release and are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include but are not limited to: cancellations or rescheduling of backlog which could cause revenue to fail to meet expectations; our continued ability to sustain profitability; competitive and growth trends in the overall flat panel market; and those risks and uncertainties described in the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations under the caption "Factors Affecting Operating Results" in Photon Dynamics' Annual Report on Form 10-K for the year ended September 30, 2007 and the and the Quarterly Report on Form 10-Q for the quarter ended December 31, 2007 as filed with the Securities and Exchange Commission. As a result, actual results may differ substantially from expectations. Photon Dynamics undertakes no obligation to update or revise any forward-looking statements, whether as a result of new developments or otherwise.

    PHOTON DYNAMICS, INC. CONSOLIDATED BALANCE SHEET (Unaudited) (In thousands) March 31 December 31 September 30 2008 2007 2007 ASSETS Current assets: Cash and cash equivalents $44,344 $40,267 $41,170 Short-term investments 19,321 30,242 42,640 Accounts receivable, net 30,210 13,421 11,934 Inventories 18,081 18,112 13,292 Refundable customs obligations 676 560 560 Other current assets 4,870 3,795 3,661 Total current assets 117,502 106,397 113,257 Long-term investments 1,525 - 1,176 Land, property and equipment, net 8,637 10,166 10,583 Other assets 5,952 5,672 5,365 Intangible assets, net 9,240 10,132 11,023 Goodwill 6,857 6,857 6,857 Total assets $149,713 $139,224 $148,261 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $14,637 $10,128 $4,217 Warranty 3,583 2,675 3,217 Employee notes payable 2,733 2,781 - Customs obligations 690 1,433 4,114 Other current liabilities 10,084 7,402 9,874 Deferred gross margin 773 2,184 3,236 Total current liabilities 32,500 26,603 24,658 Long-term employee note payable 2,667 2,667 5,381 Other non-current liabilities - 10 38 Total non-current liabilities 2,667 2,677 5,419 Shareholders' equity: Common stock 301,222 300,635 300,290 Accumulated deficit (186,238) (190,091) (181,503) Accumulated other comprehensive income (438) (600) (603) Total shareholders' equity 114,546 109,944 118,184 Total liabilities and shareholders' equity $149,713 $139,224 $148,261 PHOTON DYNAMICS, INC. CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) (In thousands, except Six Months Ended per share data) Quarter Ended March 31, 3/31/2008 12/31/2007 3/31/2007 2008 2007 Revenue $45,093 $16,176 $13,928 $61,269 $35,363 Cost of revenue 27,110 11,725 13,604 38,835 29,554 Gross margin 17,983 4,451 324 22,434 5,809 Operating expenses: Research and development 6,156 5,216 7,194 11,372 15,130 Selling, general and administrative 7,535 7,321 6,484 14,856 11,366 Restructuring charge - - 1,017 - 1,463 Impairment of property and equipment - - 2,834 - 2,834 Loss (gain) on sale of property and equipment 1 (50) - (49) - Acquired in-process research and development - - - - - Amortization of intangible assets 892 891 372 1,783 745 Total operating expenses 14,584 13,378 17,901 27,962 31,538 Income (loss) from operations 3,399 (8,927) (17,577) (5,528) (25,729) Interest income and other, net 618 845 1,996 1,463 3,010 Income (loss) from continuing operations before income taxes and discontinued operations 4,017 (8,082) (15,581) (4,065) (22,719) Provision for income taxes 163 141 105 304 206 Net income (loss) $3,854 $(8,223) $(15,686) $(4,369) $(22,925) Net income (loss) per share: Basic $0.22 $(0.46) $(0.95) $(0.25) $(1.38) Diluted $0.21 $(0.46) $(0.95) $(0.25) $(1.38) Weighted average number of shares: Basic 17,749 17,741 16,591 17,745 16,590 Diluted 18,561 17,741 16,591 17,745 16,590 Non-GAAP Net Income (Loss) Reconciliation For All Non-GAAP Items Six Months Ended Quarter Ended March 31, 3/31/2008 12/31/2007 3/31/2007 2008 2007 GAAP net income (loss) $3,854 $(8,223) $(15,686) $(4,369) $(22,925) Stock-based employee compensation expense 509 299 593 853 1,006 Restructuring charge - - 1,017 - 1,463 Impairment of property and equipment - - 2,834 - 2,834 Loss (gain) on sale of property and equipment 1 (50) - (49) - Recovery of previously reserved inventory (1,906) - - - - Amortization of intangible assets 892 891 372 1,783 745 Restatement related expenses 868 1,432 - 2,300 - Non-GAAP net income (loss) per share $4,218 $(5,651) $(10,870) $518 $(16,877) Non-GAAP Net Income (Loss) Per Diluted Share Reconciliation For All Non-GAAP Items GAAP net income (loss) per share - diluted $0.21 $(0.46) $(0.95) $(0.24) $(1.38) Stock-based employee compensation expense 0.03 0.02 0.04 0.05 0.06 Restructuring charge - - 0.06 - 0.09 Impairment of property and equipment - - 0.17 - 0.17 Loss (gain) on sale of property and equipment 0.00 (0.00) - (0.00) - Recovery of previously reserved inventory (0.10) - - - - Amortization of intangible assets 0.05 0.05 0.02 0.10 0.04 Restatement related expenses 0.04 0.08 - 0.12 - Non-GAAP net income (loss) per share $0.23 $(0.31) $(0.66) $0.03 $(1.02) Shares used in basic shares calculation 17,749 17,741 16,591 17,745 16,590 Shares used in diluted shares calculation 18,561 17,741 16,591 18,559 16,590

    Photon Dynamics, Inc.

    CONTACT: So-Yeon Jeong, Vice President, Investor Relations and Marketing
    Communications of Photon Dynamics, Inc., +1-408-360-3084,
    soyeon.jeong@photondynamics.com

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




    AMICAS Highlights Radiology Automation Solutions at RBMA 2008Leader in radiology software solutions also announces general availability of its advanced, industrial strength revenue cycle management platform, Vision Series Financials

    BOSTON, May 1 /PRNewswire-FirstCall/ -- AMICAS, Inc. , a leader in radiology and medical image and information management solutions, today announced that its complete suite of automation solutions for radiology businesses will be displayed at the RBMA 2008 Radiology Summit in Las Vegas, NV, from May 4 to 7. AMICAS will be in booth #407.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20060202/AMICASLOGO )

    The complete AMICAS automation suite includes an integrated, yet modular, RIS, PACS, teleradiology, document management, and revenue cycle management platform for radiology groups and practices of all sizes as well as other ambulatory imaging businesses.

    At RBMA, AMICAS is announcing the general availability of its latest revenue cycle management system release, the industrial strength Vision Series(TM) Financials 4.0, a modern, Windows-based solution for automating radiology billing processes. AMICAS has already signed contracts with several large radiology practices for this new billing platform. Radiology Limited of Tucson, AZ, Radiology Alliance of Nashville, TN, and Tristan Associates of Harrisburg, PA, are just a few examples of radiology businesses with which AMICAS has signed contracts.

    Vision Series Financials 4.0, which offers CashFinder technology to automate the identification and management of denials and follow-up workflows, combines a modern, recently revamped architecture with pioneering functionality to streamline the latest techniques for advanced revenue cycle management. This solution is designed to significantly reduce operating costs and increase collections. Several new enhancements have been added to the automation support provided by the system and have streamlined the work required to deploy and support revenue cycle management operations over time.

    "We evaluated other revenue cycle management solutions, but AMICAS is the only company with both a comprehensive solution and a proven company history in radiology billing," said Vicki McHughes, business manager at Radiology Consultants Inc. of Oklahoma City, OK. "We are confident that Vision Series Financials will improve our operating efficiencies and lower our collection costs."

    "We are proud that some of the country's most elite radiology businesses are choosing AMICAS as their radiology IT partner," said Paul Merrild, vice president of marketing at AMICAS. "We believe this is evidence that the market recognizes the benefit of working with a strong, independent and innovative company that is focused on taking radiology automation to new levels of effectiveness and efficiency."

    In addition to demonstrating its new Vision Series Financials solution at RBMA, AMICAS will highlight its high return on investment image and information management solution suite, including:

    -- Vision Series RIS, which drives administrative staff productivity and revenue opportunities. This industry leading ambulatory RIS solution offers robust scheduling, charge capture, and workflow capabilities. -- Vision Series PACS, which drives clinical staff productivity with a low total cost of ownership. This completely Web-based PACS offers personalized workflow via the exclusive RealTime Worklist(TM), which provides a customizable paperless patient routing and internal communication system. -- Vision Reach(TM), which allows radiology practices and departments to provide unparalleled service to referring physicians. This new zero install solution uses common e-mail and secure messaging to deliver images, reports, and information to any e-mail-enabled device via a secure Web-based portal. Vision Reach also provides referring physicians with the ability to request orders for new studies via the new order entry module. -- RadStream(TM), which reduces medical-legal risk by automating and documenting critical results communications. RadStream also automates the prioritization of imaging exams based on a "most likely to interrupt" method, which has been shown to dramatically increase radiologist productivity. -- Insight Dashboards(TM), which is a Web-based business intelligence platform, provides access to customized, near real time, easy-to-read data for key performance metrics and indicators, including both clinical and operational factors. This solution provides leadership with excellent visibility into operations.

    "RBMA is an ideal venue for AMICAS to share its image and information management solutions. Our focus on solving radiology's most challenging problems continues to resonate with RBMA's members," said Mr. Merrild. "The feedback we have been receiving from the market -- at our recent client conference and at other events -- shows that our momentum is accelerating. Clearly, this is an important and exciting time for automation solutions in radiology."

    AMICAS, Insight Dashboards, Vision Series, RadStream, RealTime Worklist, and Vision Reach are trademarks or registered trademarks of AMICAS, Inc. All other company and trademark names are the property of their respective owners.

    About AMICAS, Inc.

    AMICAS, Inc. (http://www.amicas.com/) is a leader in radiology and medical image and information management solutions. The AMICAS(R) Vision Series(TM) products provide a complete, end-to-end solution for imaging centers, ambulatory care facilities, and radiology practices. Acute care and hospital clients are provided a fully-integrated, HIS/RIS-independent PACS, featuring advanced enterprise workflow support and scalable design. Complementing the Vision Series product family is AMICAS Insight(TM) Solutions, a set of client-centered professional and consulting services that assist our customers with a well-planned transition to a digital enterprise.

    CONTACT: Aine Cryts Marketing Communications Manager 617.779.7878 acryts@amicas.com

    Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060202/AMICASLOGO
    AP Archive: http://photoarchive.ap.org/
    PRN Photo Desk, photodesk@prnewswire.com AMICAS, Inc.

    CONTACT: Aine Cryts, Marketing Communications Manager of AMICAS, Inc.,
    +1-617-779-7878, acryts@amicas.com

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




    /C O R R E C T I O N -- Acorn Energy, Inc./

    In the news release, Acorn Energy, Inc. Subsidiary, DSIT Announces Award of New Project in Telemetry, issued earlier today by Acorn Energy, Inc. over PR Newswire, we are advised by the company that the first paragraph, first sentence, should read "US $0.8 million" rather than "US .08 million" as originally issued inadvertently.

    Acorn Energy, Inc.



    TiVo Celebrates Mother's Day by Uncovering the Best (and Worst) TV Moms of All TimeThe Cosby Show's Clair Huxtable easily takes home the coveted TiVo title

    ALVISO, Calif., May 1 /PRNewswire-FirstCall/ -- It seems like TV moms can do it all -- solve problems, manage conflict, balance family and professional responsibilities -- all in less than thirty minutes. In honor of these super women of the sitcom and divas of drama, TiVo, , the creator of and a leader in television services for digital-video recorders (DVRs), today announced the results of an independent survey that ranked the top twenty TV moms of all time.

    Spanning half a century of entertainment, the survey asked TV lovers to rank their favorite five TV moms from a list of twenty past and present small screen stars. The pool of choices was selected by a TiVo panel of TV experts. The winning TV mom was Clair Huxtable from The Cosby Show, with an impressive 58 percent of the votes, easily outpacing Marion Cunningham from Happy Days, who joined Carol Brady in a distant tie for second place.

    Actress Phylicia Rashad, who brought the character of Clair Huxtable to life for years alongside comic legend Bill Cosby, thinks the character's real-life qualities were crucial in making the portrait click with viewers.

    "First of all, she was a real human being. She was a devoted wife and mother with a great sense of humor and a definite awareness of her own self," said Rashad. "People look to the mother as the embodiment of the family. She was the mother that children love, that husbands adore, and that women want to be."

    TiVo's Top TV Moms 1. Clair Huxtable: The Cosby Show 58% 2. Marion Cunningham: Happy Days 37% 3. Carol Brady: Brady Bunch 37% 4. June Cleaver: Leave it to Beaver 34% 5. Marge Simpson: The Simpsons 33% 6. Wilma Flintstone: The Flintstones 29% 7. Vivian Banks: Fresh Prince of Bel Air 27% 8. Caroline Ingalls: Little House on the Prairie 27% 9. Maggie Seaver: Growing Pains 25% 10. Marie Barone: Everybody Loves Raymond 24% 11. Peggy Bundy: Married With Children 23% 12. Lois Griffin: Family Guy 21% 13. Mrs. Partridge: The Partridge Family 22% 14. Lorelai Gilmore: The Gilmore girls 20% 15. Roseanne: Roseanne 20% 16. Carmella Soprano: The Sopranos 14% 17. Bree Van de Kamp: Desperate Housewives 14% 18. Norma Arnold: The Wonder Years 13% 19. Estelle Costanza: Seinfeld 13% 20. Lucille Bluth: Arrested Development 6%

    Looking at the list of moms above, it is tempting to wonder what their lives would have been like if they had a TiVo DVR. Imagine June Cleaver pressing pause when "The Beave" asked yet another question, or if Peggy Bundy recorded all her favorite programs, taking even more couch time away from Al. Only Marge Simpson had a chance to time shift, taking advantage of the TiVo(R) service in The Simpsons episode number 408.

    While millions of Americans use TiVo to record and rewind their favorite moms on a weekly basis, viewers who are mothers themselves are not necessarily watching programming in hopes of picking up parenting tips. In the survey TiVo found 15 percent of those polled admitted to emulating the parenting style of a TV mom while the other 85 percent said they do not.

    To take advantage of an exceptional offer for your mom this Mother's Day, visit http://www.tivo.com/mom.

    About the Top TV Mom Index - TiVo commissioned a study to determine the top 20 TV Moms in history. The survey, conducted by eRewards Market Research, polled a representative sample of 1,507 adults with a margin of error of +/- 2.52%

    About TiVo Inc.

    Founded in 1997, TiVo pioneered a brand new category of products with the development of the first commercially available digital video recorder (DVR). Sold through leading consumer electronic retailers, TiVo has developed a brand which resonates boldly with consumers as providing a superior television experience. Through agreements with leading satellite and cable providers, TiVo also integrates its full set of DVR service features into the set-top boxes of mass distributors. TiVo's DVR functionality and ease of use, with such features as Season Pass(TM) recordings and WishList(R) searches and KidZone have elevated its popularity among consumers and have created a whole new way for viewers to watch television. With a continued investment in its patented technologies, TiVo is revolutionizing the way consumers watch and access home entertainment. Rapidly becoming the focal point of the digital living room, TiVo's DVR is at the center of experiencing new forms of content on the TV, such as broadband delivered video, music and photos. With innovative features, such as TiVoToGo(TM) and online scheduling, TiVo is expanding the notion of consumers experiencing "TiVo, TV your way.(R)" The TiVo(R) service is also at the forefront of providing innovative marketing solutions for the television industry, including a unique platform for advertisers and audience measurement research. The Company is based in Alviso, California.

    TiVo, Season Pass, Swivel, TiVoToGo, WishList, the slogan 'TiVo, TV your way.', Series2, Series3, and the TiVo logo are trademarks of TiVo Inc. or its subsidiaries worldwide. (C) 2008 All rights reserved.

    TiVo

    CONTACT: Julia Young, +1-415-249-6777, youngj@ruderfinn.com, for TiVo

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




    Embarq Corporation Announces Results of Voting at Its Second Annual Shareholders' Meeting

    OVERLAND PARK, Kan., May 1 /PRNewswire-FirstCall/ -- Embarq Corporation announced the results of voting today at the company's second annual shareholders' meeting in Overland Park, Kan.

    Approximately 91 percent of the company's outstanding shares eligible to vote were represented in this year's proxy voting. The five management proposals presented to shareholders, including the election of directors, were approved.

    Shareholders re-elected the company's nine directors to one-year terms. The directors are: Peter C. Brown, Steven A. Davis, Richard A. Gephardt, Thomas A. Gerke, John P. Mullen, William A. Owens, Dinesh C. Paliwal, Stephanie M. Shern and Laurie A. Siegel.

    In other voting, shareholders ratified the appointment of KPMG LLP as Embarq's independent registered public accounting firm and approved performance- and equity-based compensation related matters, including the equity incentive and employee stock purchase plans.

    A shareholder proposal seeking to require an advisory vote on executive compensation did not receive the approval of a majority of shares voted and, therefore, did not pass. The Board of Directors will continue to monitor developments in this area.

    About EMBARQ

    Embarq Corporation , headquartered in Overland Park, Kan., offers a complete suite of communications services. The company has approximately 18,000 employees and operates in 18 states. EMBARQ is included in the S&P 500 and is in the Fortune 500(R) list of America's largest corporations.

    For consumers, EMBARQ offers an innovative portfolio of services that includes reliable local and long distance home phone service, high-speed Internet, wireless, and satellite TV from DISH Network(R) -- all on one monthly bill.

    For businesses, EMBARQ has a comprehensive range of flexible and integrated services designed to help businesses of all sizes be more productive and communicate with their customers. This service portfolio includes local voice and data services, long distance, Business Class High Speed Internet, wireless, satellite TV from DIRECTV(R), enhanced data network services, voice and data communication equipment and managed network services. For more information, visit embarq.com.

    Photo: http://www.newscom.com/cgi-bin/prnh/20060516/EMBARQLOGO
    AP Archive: http://photoarchive.ap.org/
    PRN Photo Desk, photodesk@prnewswire.com Embarq Corporation

    CONTACT: Debra Peterson of Embarq Corporation, +1-913-323-4881,
    debra.d.peterson@embarq.com

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




    CGI announces 5-year contract with Daimler Financial ServicesStock Market Symbols GIB.A (TSX) GIB (NYSE)

    BERLIN, Germany, May 1 /PRNewswire-FirstCall/ -- CGI Group Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of end-to-end information technology and business process services, is pleased to announce that Daimler Financial Services (DFS) has chosen CGI to provide a full end-to-end applications management service for international Vehicle Asset Financing. The 5 year contract will provide DFS with a cost-effective service to streamline and standardize its international vehicle asset financing business processes, while at the same time maximizing operational savings by utilizing CGI's industry leading outsourcing services.

    "DFS is pleased to expand and continue our relationship with CGI," said Markus Sontheimer, Director IT Financial Services and Sales. "For many years now, CGI has operated on the principles of sharing in our goals, and delivering quality services to address them. We look forward to maximizing CGI's knowledge and expertise to continue to be the first choice provider of financial services for our dealers and customers."

    "CGI has been a provider to Daimler for 8 years," said Joe Saliba, President Europe and Australia, CGI. "We are pleased that Daimler Financial Services, having built its reputation on quality and innovation, looks to CGI to meet their IT needs. This multi-million euro deal strengthens our relationship and will contribute significantly to the organic growth of our European operations over the next 5 years."

    CGI has also acquired Phoenix, Daimler's Vehicle Asset Financing platform specifically developed to meet DFS' retail financing needs. An intuitive business-centric solution, Phoenix has enabled Daimler to win customer service excellence and dealership awards. It is functionally rich both in supporting high levels of customer service and in its coverage of vehicle financing processes. At its core, are the capture, aggregation and management of cash flows which comprise deals, from the viewpoint of a customer, a dealership and financial services provider. This focus aligns well with the business of asset finance. A view which is evidenced by the successful international deployment of Phoenix within DFS, and which has been endorsed by industry analyst reviews.

    In collaboration with Daimler, CGI plans to commercialize Phoenix for the worldwide asset finance market. Lead by its Phoenix Delivery Centre outside London, CGI is leveraging DFS' specialist financing knowledge and CGI's market leading financial solutions and IT development expertise to incorporate Phoenix into CGI's financial solutions portfolio. With Daimler as its Charter Customer, CGI's initial target market is asset financing for the automotive and other high value manufacturing industries.

    Forward-Looking Statements

    All statements in this MD&A that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are "forward-looking information" within the meaning of sections 138.3 and following of the Ontario Securities Act. These statements and this information represent CGI's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include and are not restricted to the timing and size of new contracts, acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly-evolving IT industry; general economic and business conditions, foreign exchange and other risks identified in the MD&A, in CGI's Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at http://www.sec.gov/), the Company's Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at http://www.sedar.com/), as well as assumptions regarding the foregoing. The words "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan," and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information. You will find more information about the risks that could cause our actual results to significantly differ from our current expectations in the Risks and Uncertainties section.

    About CGI

    Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 27,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $3.8 billion and at March 31st, 2008, CGI's order backlog was $12.04 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: http://www.cgi.com/.

    CGI GROUP INC.

    CONTACT: Investor Relations: Lorne Gorber, Vice-President, Global
    Communications and Investor Relations, (514) 841-3355, lorne.gorber@cgi.com




    Perot Systems to Present at the Merrill Lynch Technology Conference 2008

    PLANO, Texas, May 1 /PRNewswire-FirstCall/ -- Perot Systems Corporation today announced that it will present at the Merrill Lynch Technology Conference 2008 on Tuesday, May 6, 2008 at 3:45 pm EDT. Interested parties may access the webcast via the company's web site at http://www.perotsystems.com/.

    About Perot Systems

    Perot Systems is a worldwide provider of information technology services and business solutions. Through its flexible and collaborative approach, Perot Systems integrates expertise from across the company to deliver custom solutions that enable clients to accelerate growth, streamline operations and create new levels of customer value. Headquartered in Plano, Texas, Perot Systems reported 2007 revenue of $2.6 billion. The company has more than 23,000 associates located in North America, Europe, and Asia. Additional information on Perot Systems is available at http://www.perotsystems.com/.

    MEDIA CONTACT: INVESTOR CONTACT Joe McNamara John Lyon phone: (972) 577-6165 phone: (972) 557-6132 fax: (972) 557-4484 fax: (972) 557-6791 joe.mcnamara@ps.net john.lyon@ps.net

    Perot Systems Corporation

    CONTACT: Joe McNamara, +1-972-577-6165, fax, +1-972-557-4484,
    joe.mcnamara@ps.net, or Investor, John Lyon, +1-972-557-6132, fax,
    +1-972-557-6791, john.lyon@ps.net, both of Perot Systems Corporation

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

    Company News On-Call: http://www.prnewswire.com/comp/122686.html




    Microsoft Expression Studio 2 Ships, Advancing Superior Developer and Designer CollaborationThe newest release of the suite of tools includes revolutionary capabilities for creative professionals including Silverlight functionality, PHP support and Adobe Photoshop import capabilities.

    REDMOND, Wash., May 1 /PRNewswire-FirstCall/ -- Microsoft Corp. today delivered on its commitment to rapid innovation for the newest Microsoft platforms and latest Web technologies by announcing the release of Expression Studio 2.

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

    The suite of professional design tools includes Expression Web 2, Expression Blend 2, Expression Design 2, Expression Media 2 and Expression Encoder 2 and works seamlessly with Visual Studio 2005 and Visual Studio 2008, solving the age-old designer and developer workflow challenge. The innovations in Extensible Application Markup Language (XAML), used by both Expression Studio and Visual Studio, allow for unprecedented designer-developer collaboration for the creation of both standards-based and Microsoft Silverlight-enhanced Web experiences as well as Windows Vista and .NET Framework 3.5 client applications.

    In line with the team's commitment to short release cycles, Expression Studio 2 is coming to market one year after the last release with major updates to each product. The products together contain more than 100 new features and introduce new Microsoft Silverlight functionality for creating stunning cross-browser, cross-platform Web experiences. Key features include the following:

    -- Expression Web 2 adds support for PHP and Adobe Photoshop import based on customer feedback. -- Expression Blend 2, in addition to Silverlight support, adds vertex animation and an improved user interface with a new split design/XAML view. -- Expression Design 2 adds improved exporting functionality including the ability to export slices. -- Expression Media 2 is a robust digital asset management solution for photographers and other creative professionals. It adds support for the latest file formats including RAW, provides geotagging functionality, and is supported by Microsoft Office 2007 and Microsoft Office for Mac 2008. -- Expression Encoder 2 is now a core offering of the suite. It allows creative and Web professionals to optimize almost any type of video content quickly for publishing on the Web, either in streaming video, rich-media advertising or other Web 2.0 projects.

    This groundbreaking release brings creative professionals fully into the application development process, accelerating time to market, minimizing resource use and improving return on investment for new projects. A full overview of features is available at http://www.microsoft.com/expression/features.

    "The release of Expression Studio 2 flies in formation with the latest platform releases such as Silverlight and Windows Presentation Foundation and is a very exciting milestone for the industry," said Eric Zocher, general manager for Expression Studio at Microsoft. "Great user experience is at the heart and soul of our Expression family of tools and is fundamental to enabling developers and designers to collaborate on building and delivering dynamic, connected applications that help customers achieve results."

    Millions of customers and partners such as Conchango PLC, 2ndFACTORY Co. Ltd, Design To Business (d2B), Infusion Development, and Pink and Yellow Media are beginning to experience the newfound power of Expression Studio and delivering rich, connected client and Web applications based on Windows Presentation Foundation, Microsoft Silverlight and Microsoft ASP.NET AJAX.

    "The release of Expression Studio 2 signifies some major advancements in the way that designers and developers work together, which is enabling us to realize much more of our vision, and to do it more efficiently," said Paul Dawson, head of experience at Conchango. "In addition, the increased connectedness between Visual Studio 2008 and Expression Studio is really beneficial. XAML is now where we live out that collaboration, which is giving us efficiencies in the design and development process of somewhere in the region of 20 percent to 30 percent, meaning our customers get much better branded user experiences, more reliable and robust code, in a shorter time frame and for a better cost."

    Pricing and Availability

    Microsoft also unveiled final product pricing and availability for the complete Expression 2 product family. Interested customers can purchase the entire studio from leading retailers such as Amazon.com and Best Buy starting in mid-May for $699 estimated retail price (ERP) (U.S.). In addition, all of the tools except Expression Design 2 are available as stand-alone products: Expression Blend 2 is available for $499 ERP (U.S.), Expression Web 2 is available for $299 ERP (U.S.), Expression Media 2 for $199 ERP (U.S.), and Expression Encoder 2 for $199 ERP (U.S.). Microsoft also offers several upgrade options for existing Expression users and companion upgrades to Expression Web and Expression Media from a range of software titles by other vendors, including Adobe Systems Inc. All Expression products for English-speaking markets will include a getting-started video training courtesy of Total Training Inc. Comprehensive video training will be available for purchase separately at http://www.totaltraining.com/expression2.

    As announced at MIX08, Microsoft also is introducing the Microsoft Expression Professional Subscription in June 2008, which includes the full suite along with a number of other Microsoft programs* such as Visual Studio, Windows Vista and Microsoft Office to help users get started at an exceptional value of $999 ERP (U.S). More information about the subscription is available at http://www.microsoft.com/expression/subscription.

    Full product pricing and availability information is available at http://www.microsoft.com/expression.

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

    * Licensed for design, development and test only.

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

    CONTACT: Rapid Response Team of Waggener Edstrom Worldwide,
    +1-503-443-7070, rrt@waggeneredstrom.com, for Microsoft Corp.

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




    Verizon Donates $20,000 and Wireless Phones to Aid Victims of Tornados in Southeast VirginiaCompany Helps Keep Evacuees, Responders Connected During Crisis

    RICHMOND, Va., May 1 /PRNewswire/ -- Verizon is providing $20,000 in grants to assist Virginians forced from their homes as a result of a string of tornados that swept across the southeastern and central regions of the state Monday (April 28).

    Verizon Wireless has also provided 100 phones to the American Red Cross in Suffolk for emergency communications volunteers who are handling requests for assistance as well as accepting donations from concerned citizens.

    "Communicating is critical in times of crisis," said Robert W. Woltz Jr., president of Verizon Virginia. "Through these grants, providing wireless phones, and our employees' efforts to restore service, we hope to help emergency workers carry out their important work and provide a little comfort to those affected by this tragedy."

    The Verizon Foundation, the philanthropic arm of Verizon, plans to donate $20,000 to the American Red Cross for tornado victims, with $15,000 going to the Suffolk County chapter and $5,000 to the Southside chapter.

    Other Verizon efforts to assist those affected by the tornados include: -- Verizon Wireless lent 10 wireless modems to the Red Cross to add high-speed Internet and e-mail connections for the agency's laptop computers. -- After the tornados passed, Verizon Wireless added capacity to its wireless network to handle additional calling volume in the Suffolk area. In addition, the company is taking steps to augment wireless service inside the American Red Cross office on Main Street in downtown Suffolk. -- Verizon technicians are restoring landline phone service after power company employees completed work to make affected areas safe from downed power lines.

    Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 67 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employed a diverse workforce of approximately 232,000 as of the end of the first quarter 2008 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.

    VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

    Verizon

    CONTACT: Media Contacts, Harry Mitchell, Verizon Telecom,
    +1-804-772-1460, Harry.j.mitchell@verizon.com, or John H. Johnson, Verizon
    Wireless, +1-240-568-1429, John.h.johnson@verizonwireless.com

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

    Company News On-Call: http://www.prnewswire.com/comp/094251.html




    Presstek Regains NASDAQ Compliance

    HUDSON, N.H., May 1 /PRNewswire-FirstCall/ -- Presstek, Inc. today announced that the company has received a determination from The NASDAQ Stock Market indicating that, based upon the filing of the company's Form 10-K for the period ended December 29, 2007 with the Securities and Exchange Commission on April 30, 2008, the company has evidenced full compliance with NASDAQ's requirements for continued listing on The NASDAQ Global Market.

    About Presstek

    Presstek, Inc. is the leading manufacturer and marketer of high tech digital imaging solutions to the graphic arts and laser imaging markets. Presstek's patented DI(R), CTP and plate products provide a streamlined workflow in a chemistry-free environment, thereby reducing printing cycle time and lowering production costs. Presstek solutions are designed to make it easier for printers to cost effectively meet increasing customer demand for high quality, shorter print runs and faster turnaround while providing improved profit margins.

    Presstek subsidiary, Lasertel, Inc., manufactures semiconductor laser diodes for Presstek's and external customers' applications.

    DI is a registered trademark of Presstek, Inc.

    For more information visit http://www.presstek.com/, or call 603-595-7000 or email: info@presstek.com.

    Contacts Trade Relations Investor Relations Betty LaBaugh Kathleen Makrakis Public Relations Manager Director of Investor Relations 603-594-8585 ext. 3441 203-485-7534 ext. 1432 blabaugh@presstek.com kmakrakis@presstek.com

    Presstek, Inc.

    CONTACT: Betty LaBaugh, Public Relations Manager,
    +1-603-594-8585 ext. 3441, blabaugh@presstek.com, or Kathleen Makrakis,
    Director of Investor Relations, +1-203-485-7534 ext. 1432,
    kmakrakis@presstek.com, both of Presstek, Inc.

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




    Queens Residents Reminded to Recycle Old Cell Phones at Spring Electronics Recycling Event, May 3NYC Department of Sanitation and Office to Combat Domestic Violence Join Verizon Wireless to Recycle Cell Phones to Aid Survivors of Domestic Violence

    NEW YORK, May 1 /PRNewswire/ -- Sanitation Commissioner John J. Doherty is reminding Staten Island residents that the New York City Department of Sanitation's Bureau of Waste Prevention, Reuse and Recycling is teaming up with Verizon Wireless to collect old cell phones at its annual Electronics Recycling and Clothing Donation events this spring. Doherty is urging all New York City residents to donate their old, unused wireless phones to help survivors of domestic violence.

    Queens' residents are asked to bring their old phones to the recycling event on Saturday, May 3, from 8 a.m. to 2 p.m., rain or shine. The event will be held at St. John's University Alumni Hall parking lot; corner of Utopia Parkway and Union Turnpike; cars enter at Gate 4 on Union Turnpike and 175th Street.

    All collected phones will be donated to the Verizon Wireless HopeLine(R) program, which will refurbish, recycle or sell the phones and donate the proceeds to domestic violence advocacy groups in the form of cash grants and prepaid wireless phones for victims. Phones that cannot be refurbished are disposed of in an environmentally sound manner.

    "Joining forces with Verizon Wireless' HopeLine program creates a win-win situation for the residents of New York City," said Commissioner Doherty. "We're always interested in programs that encourage reusing items that otherwise might end up in the waste stream. When you donate your old phone to HopeLine, you'll not only give a product a second life -- you'll also give a family in need a second chance at life."

    The City has held three electronics recycling events so far this spring, in Manhattan, the Bronx and Staten Island. Collectively, nearly 9000 people have responded and recycled over 900 pounds of cell phones.

    Verizon Wireless was the first wireless carrier in the nation to collect and recycle old cell phones and has done so since January 1999 -- first in New York and then across the U.S. To date, thanks to conscientious consumers, the company's national HopeLine program has:

    -- Kept more than 200 tons of electronics waste and batteries out of landfills. -- Collected nearly 4.5 million wireless phones. -- Properly disposed of nearly 1 million wireless phones. -- Recycled more than 170,000 pounds of batteries in cooperation with Call2Recycle(TM)

    "HopeLine was created more than 10 years ago as a means for Verizon Wireless to put its products and services to work to help survivors of domestic violence and help the environment at the same time," said Pat Devlin, president of Verizon Wireless' New York Metro Region. "More than $5 million in cash grants has been awarded to local shelters and groups working to fight family violence across the nation, and nearly 60,000 wireless phones with airtime have helped survivors rebuild their lives."

    Locally, HopeLine's direct and in-kind donations total nearly $900,000 including more than $150,000 to the New York City Family Justice Center Initiative.

    "Many of us take our cell phones for granted," said Commissioner Yolanda Jimenez of the Mayor's Office to Combat Domestic Violence. "But for a woman who is being abused or stalked, it is often her first line of defense."

    In addition to the City's neighborhood recycling events, HopeLine phone donations are accepted year-round at all Verizon Wireless Communications Stores in New York City and across the nation. For store locations and additional information, visit http://www.verizonwireless.com/hopeline.

    About Verizon Wireless

    Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 65.7 million customers. The largest U.S. wireless company and largest wireless data provider, based on revenues, Verizon Wireless is headquartered in Basking Ridge, NJ, with 69,000 employees nationwide. The company is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). Find more information on the Web at 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.

    About New York City's Department of Sanitation

    Since 1881, when the New York City Department of Sanitation -- originally known as the Department of Street Cleaning -- was founded, waste collection and disposal have come virtually full circle. At the end of the 19th century, one of the Department's most prolific commissioners, Colonel George Waring, instituted efficiencies and waste reduction programs that foretold the programs of today -- including recycling, street sweeping and a dedicated uniformed cleaning and collection force. Today, the Department is the world's largest, collecting over 12,000 tons of residential and institutional refuse and recyclables a day. The City's businesses, whose waste is collected by private carting companies, generate another 13,000 tons of refuse each day. And under the leadership of Commissioner John J. Doherty, New York City's streets are cleaner today then they have been in over 30 years.

    Verizon Wireless

    CONTACT: David Samberg, Verizon Wireless, +1-845-365-7212,
    david.samberg@verizonwireless.com; Vito Turso, NYC Department of Sanitation,
    +1-646-885-5020, vturso@dsny.nyc.gov

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




    CGI to Present at Merrill Lynch Technology Conference May 7 in New YorkStock Market Symbols GIB.A (TSX) GIB (NYSE)

    MONTREAL, May 1 /PRNewswire-FirstCall/ -- Michael E. Roach, President and CEO of CGI Group Inc. (TSX: GIB.A; NYSE: GIB) will present to investors at the Merrill Lynch Technology Conference at The Westin Times Square, in New York City, Wednesday, May 7, 2008.

    The presentation is scheduled for 3:00 p.m. (EDT) and will be available via live audio webcast on CGI's website at http://www.cgi.com/web/en/investors.htm. A replay of the webcast will be archived on CGI's website in the Investors section under Speeches and Webcasts.

    About CGI

    Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 27,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $3.8 billion and at March 31st, 2008, CGI's order backlog was $12.04 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: http://www.cgi.com/.

    CGI GROUP INC.

    CONTACT: Lorne Gorber, Vice-President, Global Communications and Investor
    Relations, (514) 841-3355




    Verizon Communications Reports on Preliminary Shareholder Vote Results at Annual Meeting

    LINCOLN, Neb., May 1 /PRNewswire/ -- In announcing preliminary results of the shareholder vote at Verizon Communications Inc.'s annual meeting here today, the company reported that shareholders approved the election of each of Verizon's 12 directors standing for election to a one-year term. Each director received 91 percent or more of the vote.

    With a 97 percent vote, shareholders also ratified the appointment of Ernst & Young as the company's independent auditor.

    All shareholder proposals were defeated. They received the following affirmative votes: eliminate stock options, 9 percent; gender identity nondiscrimination policy, 17 percent; and separate offices of chairman and CEO, 20 percent.

    Vote tallies are considered preliminary until the final results are tabulated and certified by independent election inspectors.

    Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 67 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employed a diverse workforce of approximately 232,000 as of the end of the first quarter 2008 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.

    VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

    Verizon Communications

    CONTACT: Bob Varettoni of Verizon, cell, +1-917-734-4156,
    robert.a.varettoni@verizon.com

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

    Company News On-Call: http://www.prnewswire.com/comp/094251.html




    Montgomery & Co. to Evaluate Strategic Alternatives for ITEX

    BELLEVUE, Wash., May 1 /PRNewswire-FirstCall/ -- ITEX Corporation (BULLETIN BOARD: ITEX) , The Membership Trading Community(SM), a leading marketplace for cashless business transactions in North America, today announced that it had retained the investment bank Montgomery & Co, LLC as its financial advisor to assist ITEX's Board of Directors and management in evaluating a range of strategic alternatives and opportunities to enhance shareholder value.

    "As our strategic and financial advisor, Montgomery will help us evaluate a range of strategic options and update us regarding prevailing market conditions for mergers and acquisitions," said Steve White, Chairman and CEO of ITEX. "ITEX continues to advance and execute well and we believe the time has come to engage an experienced advisor to build on our success. With Montgomery's strong track-record helping technology companies, we look forward to leveraging their experience to maximize shareholder value," concluded White.

    No timetable has been set for completion of the review, and there can be no assurance that this process will result in any specific strategic or financial transaction. ITEX does not intend to update its progress or disclose developments with respect to potential initiatives unless the Board of Directors has approved a definitive course of action or transaction.

    About ITEX

    ITEX, The Membership Trading Community(SM), is a thriving community of member businesses buying and selling more than $270 million a year in ITEX dollar transactions. Member businesses increase sales through an exclusive distribution channel managed by franchisees, licensees and corporate-owned locations, by utilizing ITEX dollars to exchange goods and services. ITEX is powered by ITEX Payment Systems, the leading payment technology platform for processing cashless business transactions. ITEX is headquartered in Bellevue, WA. For more information, please visit ITEX's website at http://www.itex.com/.

    About Montgomery

    Montgomery & Co. is a leading provider of merger and acquisition advisory, private placements, and private equity for companies in the media, communications, information technology and healthcare sectors. Montgomery & Co. has emerged as the premier investment banking alternative for growth companies in the United States by offering its clients in-depth industry knowledge, financial expertise, access to key relationships and a high degree of customer service.

    Montgomery & Co.'s primary offices are in Santa Monica, San Francisco, and New York. Montgomery & Co. is a member of the National Association of Security Dealers, Inc. (NASD), and its professional associates are registered with the NASD-SIPC. For more information, please visit http://www.monty.com/

    This press release contains forward-looking statements that involve risks and uncertainties concerning our expected performance (as described without limitation in the quotations from current management in this release) and comments within the safe harbor provisions established under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of our future performance. We believe that these potential risks and uncertainties include, without limitation: the continuing development of successful marketing strategies for our concepts; our ability to increase revenues and sustain profitability; the availability of adequate working capital; our dependence both on key personnel and our franchise network; and the effect of changes in the overall economy and in technology. Statements in this release should be evaluated in light of these factors. These risk factors and other important factors that could affect our business and financial results are discussed in our periodic reports and filings with the Securities and Exchange Commission, including our Forms 10-KSB and Forms 10-QSB, which are available at http://www.sec.gov/., including under the caption, "Management's Discussion and Analysis of Financial Condition and Results of Operations." All information set forth in this release is as of May 1, 2008, and ITEX undertakes no duty to update this information.

    ITEX Corporation

    CONTACT: Alan Zimmelman of ITEX Corporation, +1-425-463-4017,
    alan@itex.com, or Budd Zuckerman of Genesis Select, +1-303-415-0200,
    bzuckerman@genesisselect.com, for ITEX Corporation

    Web site: http://www.itex.com/
    http://www.monty.com/




    More TV Choice and Competition Near for Residents of Walpole, Mass.Town Approves Video License for Verizon; 6,000 More Households Soon Can Get FiOS TV

    WALPOLE, Mass., May 1 /PRNewswire/ -- Residents of Walpole are a major step closer to having another choice for their cable television services, thanks to a newly approved agreement authorizing Verizon to offer its FiOS TV service via the most advanced all-digital, fiber-optic network straight to customers' homes.

    The Board of Selectmen in Walpole granted a cable franchise to Verizon Wednesday (April 30), paving the way for video choice for approximately 6,000 more Massachusetts households.

    The board's vote brings to 69 the total number of Massachusetts communities where Verizon's FiOS TV is or will soon be available.

    "We are thrilled to be able to bring FiOS TV to residents in Walpole," said Donna Cupelo, Verizon region president for Massachusetts and Rhode Island. "Since the launch of FiOS TV in Massachusetts last year, we are continuing our efforts to meet the consumer demand for cable TV choice."

    FiOS TV is the company's new fiber-optic television service, which offers a better-quality picture, more high-definition and on-demand programs, and more reliable service at competitive prices.

    Verizon currently offers FiOS TV in 67 Massachusetts communities [see list below] as well as other locations in New York, New Jersey, California, Delaware, Florida, Indiana, Maryland, Pennsylvania, Oregon, Rhode Island, Texas and Virginia.

    "As a result of this new franchise, consumers in Walpole will be able to choose their cable provider as easily as they choose their phone company," said Cupelo. "Competition drives innovation, value and service quality, and it puts the consumer in control."

    Verizon is currently in negotiations with several other communities in Massachusetts to obtain additional franchises. For more information on the Verizon franchise process in the state, log on to http://www.verizon.com/ma.

    Verizon research indicates 87 percent of Massachusetts residents favor more competition and choice for video services. Independent studies have shown that competition in the video market brings enormous benefits to consumers in the form of reduced prices, better packages and improved service.

    The Walpole franchise agreement contains provisions for the network's future growth; financial support and capacity for educational and government access channels; cable service to government buildings; and other important benefits to the town, including insurance, indemnification and enforcement protections.

    "Verizon will compete aggressively for subscribers in Walpole with our FiOS services, which are fueled by our lightning-fast fiber-optic network," Cupelo said. Verizon soon will begin its door-to-door sales campaign in Walpole, explaining to local consumers the many advantages of FiOS TV.

    Verizon is the first company to offer a fiber-to-the premises (FTTP) network, connecting homes and businesses directly to fiber optics on a widespread scale.

    FiOS TV offers a broad collection of all-digital programming, 30 high-definition channels, thousands of video on demand titles and more. Fiber delivers amazingly sharp pictures and sound, and has the capacity to transmit a wide array of high-definition programming that is so clear and intense it seems to leap from the TV screen.

    In addition to FiOS TV, Verizon's fiber network also allows the company to offer consumers and businesses high-speed FiOS Internet service at download speeds up to 50 Mbps (megabits per second) and upload speeds up to 20 Mbps.*

    * NOTE: actual (throughput) speeds will vary.

    [FiOS TV is available in Abington, Acton, Andover, Arlington, Bedford, Belmont, Boxborough, Boxford, Braintree, Burlington, Canton, Dedham, Dunstable, Framingham, Franklin, Georgetown, Hamilton, Hingham, Holliston, Hopkinton, Ipswich, Lawrence, Lincoln, Littleton, Lexington, Lynn, Lynnfield, Malden, Marion, Marlborough, Marshfield, Mattapoisett, Medfield, Medway, Melrose, Methuen, Middleborough, Nahant, Natick, Needham, Newton, Norfolk, North Reading, Norwood, Reading, Rockland, Rowley, Sherborn, Southborough, Stoneham, Sudbury, Swampscott, Tewksbury, Topsfield, Tyngsborough, Wakefield, Waltham, Wareham, Wayland, Wellesley, Wenham, West Newbury, Westborough, Westwood, Wilmington, Winchester and Woburn. In addition to Walpole, Verizon has a TV franchise in Rochester.]

    Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 67 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employed a diverse workforce of approximately 232,000 as of the end of the first quarter 2008 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.

    VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

    Verizon

    CONTACT: Rick Colon, +1-781-849-2046, richard.b.colon@verizon.com, or
    Phil Santoro, +1-617-743-4760, philip.g.santoro@verizon.com, both of Verizon

    Web site: http://www.verizon.com/
    http://www.verizon.com/ma

    Company News On-Call: http://www.prnewswire.com/comp/094251.html




    Univest National Bank and Trust Co. Launches UnivestOne.comThe launch of Univest's high-interest, online banking solution also features a chance to win $10,000.

    SOUDERTON, Pa., May 1 /PRNewswire-FirstCall/ -- Univest National Bank and Trust Co. today announced the launch of UnivestOne.com, a high- interest, online banking solution offering individuals a convenient way to do their banking. As part of the launch, Univest National Bank and Trust Co. is holding a $10,000 sweepstakes.

    "While we've been offering online solutions for several years, UnivestOne.com simplifies the process for consumers while offering the same convenient, high-interest-yielding accounts that some of the national online banks are providing," said Eric W. Conner, vice president and director of e- commerce for Univest National Bank and Trust Co. "But, UnivestOne.com provides one added benefit: For consumers who are looking for a convenient, high-interest, online banking solution; dozens of local offices that offer great products and exceptional service; and a bank that has been committed to their community for more than 130 years, Univest has what they're looking for."

    UnivestOne.com features an Anytime Online Savings Account, an Anytime Online Checking Account and a one-year, high-yield certificate of deposit (CD). The account benefits include free online banking with access to account balances; free online bill payment; free e-statements; free funds transfers between accounts or from other banks, and access to 32,000 surcharge free Allpoint ATMs nationwide.

    "The launch of UnivestOne.com aligns with our mission to continue to be a leader in the markets we serve by adapting our banking solutions to meet the financial needs of consumers today," said Annette D. Szygiel, chief experience officer, senior vice president and director of marketing for Univest Corporation of Pennsylvania. "By integrating our current e-commerce offerings into our local markets, our goal is to attract new, local depositors who traditionally would have taken their business outside of our community to find an attractive online solution. UnivestOne.com is the solution. And, if that's not enough, were giving away $10,000 in order to attract the public to UnivestOne.com and see the competitive solutions we have to offer."

    Univest's $10,000 sweepstakes is being held from April 30, 2008 through August 31, 2008. The winner of the sweepstakes, which requires no purchase, must be 18 years or older and reside in Pennsylvania. The $10,000 will be directly deposited into the winner's bank account. For more information and complete sweepstakes rules, please visit UnivestOne.com.

    About Univest Corporation

    Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (http://www.univest.net/) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, and Montgomery counties. Univest National Bank and Trust Co. offers customers 33 financial service centers, 12 retirement financial services centers, and 39 ATM locations throughout the region, and is the parent company of Univest Capital, Inc. (doing business as Vanguard Leasing, Inc.), a small ticket commercial leasing business; Univest Insurance, Inc., an independent insurance agency headquartered in Lansdale, Pa., which serves commercial and personal customers; and Univest Investments, Inc., a full-service broker-dealer and investment advisory firm.

    For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit http://www.univest.net/.

    This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. Such factors include the possibility that increased demand or prices for the Company's financial services and products may not occur, changing economic and competitive conditions, technological developments, and other risks and uncertainties, including those detailed in the company's filings with the Securities and Exchange Commission.

    Univest National Bank and Trust Co.

    CONTACT: Kim Detwiler, Vice President, Corporate Communications, Univest
    Corporation, +1-215-721-8396, detwilerk@univest.net

    Web site: http://univestone.com/
    http://www.univest.net/




    UniPixel Announces Bernard T. Marren as Board Chairman and Reed Killion as Chief Executive Officer

    THE WOODLANDS, Texas, May 1 /PRNewswire-FirstCall/ -- Uni-Pixel, Inc. (BULLETIN BOARD: UNXL) , the developer of color display technology called Time Multiplexed Optical Shutter ("TMOS"), today announced that Mr. Bernard T. Marren has been unanimously elected as its new Chairman of the Board of Directors. Additionally, the Board of Directors has promoted Mr. Reed Killion to the office of Chief Executive Officer of the Company. Both positions are effective immediately, preparing the Company for its next stage of development.

    Mr. Marren has served as a member of the Board since February 2007 and has provided significant value to the Company, supporting its efforts to advance through fund raising and technology development phases. Mr. Marren is a seasoned senior executive having spent the bulk of his career in various Silicon Valley companies, beginning with Fairchild Semiconductor. Currently, Mr. Marren serves as the President and CEO of OPTi, Inc., a technology licensing company headquartered in Palo Alto, Ca.

    Mr. Killion has been the President of UniPixel since September of 2004 and has successfully guided the Company through three equity rounds of funding as well as the successful demonstration of its prototype systems. Mr. Killion has provided leadership in fund raising, technology development, and in recruiting the UniPixel team.

    Mr. Killion stated, "Bernie Marren has been an outstanding mentor and counsel to me through the challenges we have met together at UniPixel. His experience and guidance have proven invaluable numerous times. We are proud and honored that he would accept the role as our Chairman."

    Mr. Frank DeLape has recently resigned as Chairman and a member of UniPixel's Board of Directors, leaving the office open for the newly elected Chairman. Mr. DeLape had served the Company as Executive Chairman and Chairman since December 2004.

    About Uni-Pixel, Inc.

    Uni-Pixel, Inc. is a development stage corporation that has developed, patented, and is working to commercialize a new flat panel color display technology it calls Time Multiplexed Optical Shutter ("TMOS"), which can be used for a wide variety of applications, ranging from cell phones and industrial displays to televisions and large digital signage systems. UniPixel's TMOS technology offers significant advantages over existing alternatives including lower cost to produce, superior brightness, improved picture quality, lower power consumption and a broad range of design flexibility. UniPixel licenses its TMOS technology to manufacturing partners and intends to supply its Opcuity(TM) thin films to those manufacturers. The Company's corporate headquarters are located in The Woodlands, TX. For further information, please see http://www.unipixel.com/.

    DISCLAIMER

    All statements in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under Item 1 "Risk Factors" in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2007. We operate in a highly competitive and rapidly changing environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise any forward-looking statements. Readers are also urged to carefully review and consider the other various disclosures in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2007, as well as other public filings with the SEC since such date.

    For further information contact: Uni-Pixel, Inc. Investor Relations: James Tassone, CFO Phone: 281-825-4503 Email: jtassone@unipixel.com Uni-Pixel, Inc. Public Relations: Stacey Voorhees Public Relations Consultant Phone: 925-336-9592 E-mail: stacey@savvypublicrelations.net

    Uni-Pixel, Inc.

    CONTACT: Investor Relations, James Tassone, CFO of Uni-Pixel, Inc.,
    +1-281-825-4503, jtassone@unipixel.com; or Public Relations, Stacey Voorhees,
    Public Relations Consultant, +1-925-336-9592, stacey@savvypublicrelations.net,
    for Uni-Pixel, Inc.

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




    Tzlil Peker Joins InkSure Technologies as Chief Financial Officer

    FORT LAUDERDALE, Fla., May 1 /PRNewswire-FirstCall/ -- InkSure Technologies Inc. (BULLETIN BOARD: INKS) (http://finance.yahoo.com/q?s=inks.ob&d=t), a leading provider of covert machine-readable security solutions for the prevention of counterfeiting, fraud and diversion, today announced that Tzlil Peker has joined the Company's executive management team as Chief Financial Officer.

    For the past seven years, Mr. Peker has provided CFO/ Financial services for a group of high tech start-up companies operating in the Telecommunications, Cellular and IT global markets. In this position, Mr. Peker has had overall responsibility for all financial functional areas. Prior to his most recent position, Mr. Peker served as Finance Director of Mercury Interactive in Israel where he managed the finance team in Israel and the Pacific Rim. Mr. Peker also held positions at OptiMedia Ltd., a software developer of e-publishing solutions, where he served as CFO and at IBM Israel, where he served as Chief Accountant for several years.

    Mr. Peker is a Certified Public Accountant (Israel). He holds a B.A. Degree in Accounting and Economics from Tel Aviv University and an MBA from the Edinburgh Business College branch in Israel.

    "We are very pleased to welcome Mr. Peker to our senior management team as our new CFO," stated Elie Housman, Chief Executive Officer of InkSure Technologies Inc. "Tzlil brings extensive experience with technology start-ups and large business organizations to InkSure, and we expect him to be an important addition to our company and play a key role in our growth strategy for the future."

    About InkSure Technologies Inc.

    InkSure Technologies Inc., with its corporate headquarters in Ft. Lauderdale, Florida and its research and development center in Science Park, Rehovot, Israel, specializes in comprehensive, covert security solutions designed to protect high profile brands and documents of value from counterfeiting, fraud and diversion. The Company's sales and marketing activities target a number of market opportunities, including financial, pharmaceutical, branded products, transportation, and government/institutional, on a global scale. The Company's R&D activities include the development of "chipless" RFID technology for affordable item-level secure logistics and track-and-trace applications.

    The Company's common stock is listed on the OTC Bulletin Board under the symbol "INKS". Additional information on the Company is available on its website at http://www.inksure.com/.

    This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Although InkSure (the "Company") believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. Important factors that could cause actual results to differ materially from the forward- looking statements include the Company's need to obtain substantial additional capital (through financings or otherwise) to fund its operations, the progress of development, government and regulatory approvals and licensing/commercialization of the Company's technologies, and other factors noted in the Company's periodic report filings with the Securities and Exchange Commission. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

    For further information, please contact: Don Taylor, Vice President - Global Marketing at +1-954-772-8507 or via e-mail

    at dtaylor@inksure.com

    InkSure Technologies Inc.

    CONTACT: Don Taylor, Vice President - Global Marketing of InkSure
    Technologies Inc., +1-954-772-8507, dtaylor@inksure.com

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




    Verizon Begins Work to Expand Its Broadband Network in Western MassachusettsConsumers in 23 Communities to Get High Speed Internet Service, Beginning This Summer

    BOSTON, May 1 /PRNewswire/ -- Work has begun on the expansion of Verizon's High Speed Internet service to 23 western Massachusetts communities, where consumers will be able to reap the benefits of broadband later this year.

    Verizon technicians are laying the groundwork for the new service, also known as DSL. When completed, it will give Internet users the ability to download at speeds of up to 3 megabits per second (Mbps), 53 times faster than their current dial-up capability.

    Verizon expects to begin offering High Speed Internet service in some of the 23 communities as soon as this summer. The company will notify potential customers of the availability of the service in a number of ways, including direct mail, media advertising and contact with local officials in each community. Consumers can also visit http://www.verizon.com/ma for additional information.

    "Our customers are going to be amazed at how lightning-fast their Internet service is, compared with dial-up," said Bob Driscoll, Verizon's vice president of sales and marketing in New England. "They'll be able to download pictures, music and videos so quickly and easily that it will make using the Internet so much easier and more valuable."

    In February, Verizon announced a $200 million investment in broadband expansion in Massachusetts, including the launch of the company's High Speed Internet service in 23 western Massachusetts communities where broadband service has never been available.

    Those communities are: Becket, Blandford, Colrain, Cummington, Florida, Goshen, Hancock, Heath, Leverett, Leyden, Middlefield, Monroe, Montgomery, New Ashford, New Marlborough, Pelham, Plainfield, Rowe, Sandisfield, Tolland, Westhampton, Windsor and Worthington.

    John Rowley, business manager for IBEW Local 2324, which represents many Verizon employees in western Massachusetts, said, "We have the best technology and workforce to expand broadband services to western Massachusetts. Our members are ready to deliver the innovative and reliable services that residents and businesses have come to expect, now and into the future. Today we are one step closer to doing so."

    Verizon's High Speed Internet service is available to residents and businesses that are located within roughly three miles of the company's central switching offices.

    When the work is completed, Verizon expects High Speed Internet service will be available to 70 percent of its customer lines, on average, in the new towns. The new broadband deployment of Verizon's High Speed Internet network would reach two-thirds of the 31 western Massachusetts communities identified by the state as having no high-speed broadband services.

    Verizon said the project complements Gov. Deval Patrick's initiative to bring more broadband to unserved and underserved communities in Massachusetts.

    "The governor and western Massachusetts legislative delegation have put the proper focus on the real need for broadband expansion in the region, and we want to do everything we can to address that need," said Donna Cupelo, Verizon region president for Massachusetts and Rhode Island. We look forward to working with our government leaders to explore ways to bring broadband to other areas that are in need in Massachusetts."

    Verizon High Speed Internet service is delivered on a dedicated line from Verizon's central switching office to the customer's home and is backed by live, 24 x 7 customer service and technical support. High Speed Internet subscribers have access to an extensive collection of features and services, including online protection with Verizon Internet Security Suite; Verizon Enhanced Email; Verizon Premium Tech Support; Online gaming; free news from ABC News Now; free sports from ESPN360; and more.

    Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 67 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employed a diverse workforce of approximately 232,000 as of the end of the first quarter 2008 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.

    VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

    Verizon

    CONTACT: Ellen Cummings, +1-508-624-2219, ellen.m.cummings@verizon.com,
    or Phil Santoro, +1-617-743-4760, philip.g.santoro@verizon.com, both of
    Verizon

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

    Company News On-Call: http://www.prnewswire.com/comp/094251.html




    Digital Ally, Inc. Introduces New DVM-250 ProProfessional Quality Event Recorder Designed for Use in Transportation IndustryCompany Updates Guidance for 2008 Operating Results

    OVERLAND PARK, Kan., May 1 /PRNewswire-FirstCall/ -- Digital Ally, Inc. , which develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial security applications, announced at its Annual Meeting of Shareholders earlier today the introduction of its new DVM-250 Pro, the first in a series of professional-quality event recorders being developed for the transportation Industry.

    Event recorders, such as the DVM-250 Pro, automatically record and store audio from inside and video from both inside and outside of vehicles. Thus, in the case of an abrupt change in acceleration, such as during a wreck, sudden stop, or other violent maneuver, the event is automatically recorded. To ensure that the cause of the event is captured on video, the DVM-250 Pro constantly records a 30-second loop. Thus, the recorder captures activities inside and outside the vehicle for 30 seconds prior to a triggering event, as well as during and after the event. Digital Ally has leveraged its law enforcement experience in development of the DVM-250 Pro. Unlike "consumer spec" models, the DVM-250 Pro provides inputs for external triggers and sensors, better video, accurate timing of recorded data, and other professional level enhancements.

    Digital Ally, Inc., a leader in digital video technology that commercially introduced the successful DVM-500 In-Car Digital Rearview Mirror System into the law enforcement market in early 2006, has utilized the same design philosophy and technology for the transportation industry. The DVM-250 Pro is completely integrated into a rearview mirror and can therefore be easily installed in any type of vehicle by simply removing the existing mirror and installing the DVM-250 Pro in its place. This allows the DVM-250 Pro to be integrated with modern vehicle interiors without taking up space that might cause a hazard or detracting from the desired atmosphere inside the vehicle.

    "Event recorders are used by companies with vehicle fleets in a number of different industries, including taxicab, bus, limousine, and motor coach operators; utility, telecommunication, package delivery, and distribution companies; government agencies; and even personal vehicles," noted Stanton E. Ross, Chief Executive Officer of Digital Ally, Inc. "Uses of such recorders include driver training, personal protection and monitoring, protection against liability and workman's compensation claims, and personal documentation of events. In the aggregate, we believe the market for event recorders in the transportation industry is larger than the law enforcement market that we have targeted so successfully with our DVM-500. We anticipate that Digital Ally will begin delivering DVM-250 Pro systems to customers in the third quarter of 2008."

    On April 30, 2008, the Company hosted an investor conference call to discuss its first quarter operating results and other topics. During the call, the Company reaffirmed its previous guidance that revenue should approximate $40 million and estimated that its operating margins would approximate 29% of revenue in the year ending December 31, 2008.

    About Digital Ally, Inc.

    Digital Ally, Inc. develops, manufactures and markets advanced technology products for law enforcement, homeland security and commercial security applications. The Company's primary focus involves Digital Video Imaging and Storage. For additional information, visit http://www.digitalallyinc.com/

    The Company is headquartered in Overland Park, Kansas, and its shares are traded on The Nasdaq Capital Market under the symbol "DGLY".

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: the Company's ability to have all of its new product offerings perform as planned or advertised; whether there will be a commercial market, domestically and internationally, for one or more of its new products, including the DVM-250 Pro; its ability to commercialize its products and production processes, including increasing its production capabilities to satisfy orders in a cost-effective manner; its ability to continue to increase revenue and profits, including the achievement of approximately $40 million in revenues and 29% operating margins in 2008; whether the Company will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; its ability to obtain patent protection on any of its products and, if obtained, to defend such intellectual property rights; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-KSB filed with the Securities and Exchange Commission.

    For Additional Information, Please Contact: Stanton E. Ross, CEO at (913) 814-7774 or

    RJ Falkner & Company, Inc., Investor Relations Counsel at (800) 377-9893 or

    via email at info@rjfalkner.com

    Digital Ally, Inc.

    CONTACT: Stanton E. Ross, CEO of Digital Ally, Inc., +1-913-814-7774; or
    RJ Falkner & Company, Inc., Investor Relations Counsel, +1-800-377-9893,
    info@rjfalkner.com, for Digital Ally, Inc.

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




    Five Innovators to Revolutionize Computer ScienceMicrosoft Research helps five young faculty members pursue breakthrough research as part of its New Faculty Fellowship Program.

    REDMOND, Wash., May 1 /PRNewswire-FirstCall/ -- Microsoft Research today recognized five innovative, young faculty members from across the nation to join the ranks of Microsoft Research New Faculty Fellows. This program now encompasses 20 academic researchers whose exceptional talent for research and thought leadership make them standouts in their fields. The selected professors are exploring breakthrough, high-impact research that has the potential to help solve some of today's most challenging societal problems.

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

    "We want to make it easier for early-career faculty to take risks in their research," said Sailesh Chutani, senior director of Microsoft External Research. "We believe our New Faculty Fellows program provides young professors with the means to pursue research with the potential to make a profound impact."

    About 100 young faculty members from the United States and Canada were nominated for the 2008 awards. The five 2008 New Faculty Fellows are as follows:

    -- Kristen Grauman, University of Texas at Austin. Grauman's research focuses on designing the algorithms and learning processes that will allow computers to understand and organize visual information. In particular, she is interested in tackling the major scalability issues that surround visual recognition and search. The goal is to make it possible to efficiently index large volumes of visual data (images or videos) based on their content -- a functionality that has the potential to greatly benefit a variety of users, from consumers to scientists and engineers. -- Susan Hohenberger, Johns Hopkins University. Hohenberger focuses on cryptography, the art of securely communicating. She is interested in designing secure solutions for pervasive settings, where devices everywhere are constantly talking to their environments, which may require the ability to quickly process a large number of incoming messages. Her research includes an emphasis on developing privacy-friendly technologies, such as anonymous communication and electronic cash. -- Robert Kleinberg, Cornell University. Kleinberg studies the theory of algorithm design under informational limitations. This means that he looks at practical questions in computer science -- such as how to design more robust adaptive systems for Web search, network routing, online auctions and product recommendations -- and address these questions using mathematically rigorous techniques that build on ideas from learning theory, game theory and information theory. -- Philip Levis, Stanford University. Levis researches software and networking for tiny, low-power, wireless sensors. He focuses on making these networks of sensors easier to deploy and maintain by researching ultrasimple algorithms that use robust local rules to achieve desirable global behaviors. Software he develops is used by hundreds of research groups worldwide and runs on millions of nodes. -- Russell Tedrake, Massachusetts Institute of Technology. Tedrake focuses on computational and machine-learning approaches to control system design for robots that walk, run, swim and fly more like real animals. He believes that to succeed, both the mechanical design of the robots and the algorithms for controller design must exploit the natural, nonlinear dynamics of locomotion. In the next few years, he aims to build bipedal robots that can walk and jump across piles of rocks, and develop robotic birds with flapping wings that can gracefully land on a perch.

    "I'm delighted and honored to be selected for the Microsoft fellowship, and to be included among the group of past and present winners whom I deeply admire," said Robert Kleinberg, assistant professor in the department of computer science at Cornell University. "The most important resource that my research requires is interaction with gifted colleagues, and the fellowship funds give me a wide range of options, such as supporting graduate students and postdocs, and organizing symposia. I'm grateful to Microsoft Research for this extremely generous gift and for the hugely positive influence they've had on my growth as a researcher over the years."

    The Microsoft Research New Faculty Fellowship program was created in 2005 to honor first-, second- and third-year university professors who demonstrate exceptional talent for unique research and thought leadership in computer science and related fields. These awards provide funds to encourage creative freedom and collaboration opportunities among tomorrow's most promising new professors.

    The Microsoft Research New Faculty Fellowship program provides $1 million in funding each year. Each chosen fellow receives $200,000 to be used at his or her discretion. Additional resources include software, invitations to academic and professional conferences, and the opportunity to engage firsthand with leading researchers from Microsoft Research. As an unrestricted gift, the fellows have the freedom to plan their research agenda, hire grad students, build labs and purchase equipment.

    According to the eligibility criteria, only one nominee per university may be entered into the program's rigorous, multitier selection process, which culminated this year with 11 finalists being interviewed face to face by a distinguished panel of Microsoft Research executives and researchers, as well as faculty members from some of the nation's leading universities. From the 11 finalists, five were chosen as the 2008 Microsoft Research New Faculty Fellows.

    "Microsoft is committed to the New Faculty Fellows program with its potential to create exciting opportunities for the computer science researchers, educators and leaders of tomorrow," Chutani said. "For the pipeline of computer science and engineering students to increase, there also needs to be a pipeline of dynamic faculty like these to inspire and lead them."

    These awards are part of Microsoft Research's broader efforts aimed at funding innovative academic research that will significantly extend the state of the art in computing and ensure a rich future for computing through recognition and support of the next generation of computer science leaders.

    About Microsoft Research

    Founded in 1991, Microsoft Research is dedicated to conducting both basic and applied research in computer science and software engineering. Its goals are to enhance the user experience on computing devices, reduce the cost of writing and maintaining software, and invent novel computing technologies. Researchers focus on more than 55 areas of computing and collaborate with leading academic, government and industry researchers to advance the state of the art in such areas as graphics, speech recognition, user-interface research, natural language processing, programming tools and methodologies, operating systems and networking, and the mathematical sciences. Microsoft Research currently employs more than 800 people in six labs located in Redmond, Wash.; Cambridge, Mass.; Silicon Valley, Calif.; Cambridge, England; Beijing, China; and Bangalore, India. Microsoft Research collaborates openly with colleges and universities worldwide to enhance the teaching and learning experience, inspire technological innovation, and broadly advance the field of computer science. More information can be found at http://www.research.microsoft.com/.

    About Microsoft

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

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

    CONTACT: Rapid Response Team, +1-503-443-7070, rrt@waggeneredstrom.com,
    or Lisa Hildebrandt, +1-503-443-7000, lhildebrandt@waggeneredstrom.com, both
    of Waggener Edstrom Worldwide, for Microsoft Corp.

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




    Microsoft Takes Geotagging Mainstream With New Digital Photo ProductsPro Photo Tools and Expression Media 2 address digital photo organization issues through geotagging.

    REDMOND, Wash., May 1 /PRNewswire-FirstCall/ -- Microsoft Corp. today introduced two new products to help photographers manage their digital photos in a new way using location data, a process known as geotagging. Geotagging is an exciting new way to organize your digital photos that was previously available only to those with technical expertise.

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

    Microsoft Pro Photo Tools make geotagging available for all photographers and can be downloaded for free at the Microsoft Pro Photo Web site at http://www.microsoft.com/prophoto. Today, Microsoft also released Expression Media 2, a new version of its digital asset management software, which is part of the Expression family of products for creative professionals. Expression Media 2 is designed to help reduce the amount of time required by photographers to manage and organize large collections of photos and other digital media, and it includes geotagging functionality.

    "These two products really simplify the process of geotagging and organizing digital photos by location, even without a GPS device," said Josh Weisberg, director of the Rich Media Group at Microsoft. "We'll continue to look for ways to simplify features like geotagging that help keep photographers organized."

    As digital photography has gained popularity, so has the demand for geotagging tools. Photographers, both professionals and enthusiasts, want the ability to quickly identify the location of their images. With the Pro Photo Tools, photographers have a lot of flexibility in how they tag their photos, including RAW formats. They can gather location information from a variety of sources and apply it to the metadata in their images, drag and drop images on a map, determine location names based on GPS coordinates, and assign GPS data to images that are missing it.

    "Geotagging is a hot new area in digital photography, and like other popular digital photo features, I expect photographers will be asking themselves how they ever lived without it," said Ron Glaz, analyst at IDC. "Until now geotagging has been hard to do, requiring special expertise and tools. The time has come for an application that even the weekend photographer can use. Microsoft's initiative of leading the way and making geotagging accessible to pros and enthusiasts alike is a step in the right direction."

    The Pro Photo Tools and Expression Media 2 are designed to work together to help photographers better manage their digital image collections with new comprehensive digital asset management functionality including geotagging. Expression Media 2 has an open architecture, supports multiple file formats including RAW, and can be used either on Windows or Macintosh operating systems, giving photographers more control over images and greater flexibility. It also allows quick export of photos into multiple formats to produce slide shows, video, and interactive Microsoft Silverlight-powered Web galleries. Expression Media 2 will be available for purchase in mid-May, and a trial version is available at the following link http://www.microsoft.com/expression/products/overview.aspx?key=media.

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

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

    CONTACT: Kate Whitman of Edelman, +1-206-268-2222,
    kate.whitman@edelman.com, for Microsoft Corp.

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

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