Companies news

Global Payments Inc. (NYSE: GPN) today announced results for its fiscal third quarter ended February 28, 2009. For the third quarter, revenues grew 26% to US$392.7 million compared to US$310.6 million in the prior year. Normalized diluted earnings per share grew 2% to US$0.45 compared to US$0.44 in the prior year quarter.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010221/ATW031LOGO )

These results include the unfavorable impact of foreign currency exchange rates during the quarter, and as such, the company included Schedule 9 to provide revenue and diluted earnings per share growth on a constant currency basis for both the quarter and the outlook for fiscal 2009. On a constant currency basis, revenues grew 38% and normalized diluted earnings per share grew 25% over the prior year quarter.

On a GAAP basis we reported revenue of US$392.7 million and a loss per share of (US$1.34). These results include a non-cash, pretax impairment charge relating to our money transfer business of US$147.7 million which was recorded as a result of the company's annual FAS 142 Goodwill and Other Intangible Assets review. The fair value of the money transfer business has significantly declined due to ongoing challenging macroeconomic and immigrant labor trends.

Comments and Outlook

Chairman and CEO, Paul R. Garcia, stated, "We achieved solid third quarter financial performance, in spite of continuing macroeconomic headwinds and unfavorable foreign currency trends. Our normalized results for the quarter were driven by the impact of our June 30, 2008 U.K. acquisition and strong results in our North America segment. North America continues to benefit from successful pricing initiatives in Canada and solid 15% transaction growth in the U.S."

"We are maintaining our 2009 annual revenue guidance of US$1,550 million to US$1,580 million, or 22% to 24% growth over fiscal 2008. In addition, our constant currency expectations for revenue growth of 29% to 31% remain unchanged from last quarter. We are also reaffirming fiscal 2009 normalized diluted EPS guidance of US$2.14 to US$2.21, reflecting 8% to 12% growth over fiscal 2008 (see Schedule 6 for details). Our constant currency outlook for normalized diluted earnings per share growth of 21% to 25% for fiscal 2009 also remains unchanged, in spite of a challenging economic environment," said Garcia.

Conference Call

Global Payments will hold a conference call today, April 2, 2009 at 5:00 p.m. EDT to discuss financial results and business highlights. Callers may access the conference call via the company's Web site at www.globalpaymentsinc.com by clicking the "Webcast" button; or callers may dial +1-888-740-6140 and callers outside U.S. and Canada may dial +1-913-312-1269. The pass code is "GPN." A replay of the call may be accessed through the Global Payments' Web site through April 16, 2009.

Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Latin America, Europe, and the Asia-Pacific region. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. The company also provides consumer money transfer services from the United States and Europe to destinations in Latin America, Morocco, and the Philippines. For more information about the company and its services, visit www.globalpaymentsinc.com.

This announcement and comments made by Global Payments' management during the conference call may contain certain forward-looking statements within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including revenue and earnings estimates and management's expectations regarding future events and developments, are forward looking statements and are subject to significant risks and uncertainties. Important factors that may cause actual events or results to differ materially from those anticipated by such forward-looking statements include the following: foreign currency risks which become increasingly relevant as we expand internationally, the effect of current U.S. economic conditions, including a decline in the value of the U.S. dollar, the continued erosion of the value of our money transfer business and other risks detailed in the company's SEC filings, including the most recently filed Form 10-Q or Form 10-K, as applicable. The company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events.

Contact: Jane M. Elliott +1-770-829-8234 Voice +1-770-829-8267 Fax investor.relations@globalpay.com

(All currency in US Dollars unless otherwise noted) SCHEDULE 1 UNAUDITED CONSOLIDATED STATEMENTS OF INCOME GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands, except per share data) ------------------------------------------------------------------------- Three Months Ended February 28/29, --------------------------------- 2009 2008 ---- ---- Revenues $392,663 $310,641 ------------------------------------------------------------------------- Operating expenses: Cost of service 146,760 117,661 Sales, general and administrative 180,117 133,069 Impairment 147,664 - ------- ------- 474,541 250,730 ------- ------- Operating (loss) income (81,878) 59,911 ------------------------------------------------------------------------- Other income (expense): Interest and other income 1,200 4,767 Interest and other expense (2,222) (2,198) ------ ------ (1,022) 2,569 ------ ----- (Loss) income before income taxes and minority interest (82,900) 62,480 Provision for income taxes (15,818) (19,265) Minority interest, net of tax provision (benefit) of $1,703 and ($506), respectively (8,058) (3,160) ------------------------------------------------------------------------- Net (loss) income $(106,776) $40,055 --------- ------- (Loss) earnings per share: Basic $(1.34) $0.51 ------ ----- Diluted $(1.34) $0.50 ------ ----- Weighted average shares outstanding: Basic 79,835 79,219 Diluted 79,835 80,650 SCHEDULE 2 SEGMENT INFORMATION GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) ------------------------------------------------------------------------- Three Months Ended February 28/29, --------------------- 2009 2008 ---- ---- Revenues: --------- United States $206,237 $182,038 Canada 68,202 61,256 ------ ------ North America Merchant Services 274,439 243,294 Europe 62,109 14,455 Asia-Pacific 22,980 18,977 ------ ------ International Merchant Services 85,089 33,432 United States 26,605 28,007 Europe 6,530 5,908 ----- ----- Money Transfer 33,135 33,915 -------- -------- Total Revenues $392,663 $310,641 ======== ======== Operating Income: ----------------- North America Merchant Services(1) $57,909 $67,792 International Merchant Services 20,771 4,326 Money Transfer 3,403 1,156 Corporate (16,297) (13,363) Impairment (147,664) - -------- -------- Operating (Loss) Income $(81,878) $59,911 ======== ======= (1) Includes the favorable impact of a non-recurring, non-cash operating tax item of $7.0 million in the three months ended February 29, 2008.

SCHEDULE 3 UNAUDITED CONSOLIDATED STATEMENTS OF INCOME GLOBAL PAYMENTS INC. AND SUBSIDIARIES Reconciliations to Exclude Impairment Charges and an Operating Tax Item from Normalized Results (In thousands, except per share data) ------------------------------------------------------------------------- Three Months Ended February 28/29, 2009 2008 ------------------------------- ----------------------- Operating Tax Normalized Impairment(1) GAAP Normalized Item(2) GAAP ---------- ------------ ---- ---------- ------ ---- Revenues $392,663 $- $392,663 $310,641 $- $310,641 ------------------------------------------------------------------------- Operating expenses: Cost of service 146,760 - 146,760 117,661 - 117,661 Sales, General and administrative 180,117 - 180,117 140,117 (7,048) 133,069 Impairment - 147,664 147,664 - - - --- ------- ------- --- --- --- 326,877 147,664 474,541 257,778 (7,048) 250,730 ------- ------- ------- ------- ------ ------- Operating income (loss) 65,786 (147,664) (81,878) 52,863 7,048 59,911 ------------------------------------------------------------------------- Other income (expense): Interest and other income 1,200 - 1,200 4,767 - 4,767 Interest and other expense (2,222) - (2,222) (2,198) - (2,198) ------ --- ------ ------ --- ------ (1,022) - (1,022) 2,569 - 2,569 ------ --- ------ ----- --- ----- Income before income taxes and minority interest 64,764 (147,664) (82,900) 55,432 7,048 62,480 Provision for income taxes (19,906) 4,088 (15,818) (16,936)(2,329) (19,265) Minority interest, net of tax provision (benefit) of $1,703 and ($506), respectively (8,058) - (8,058) (3,160) - (3,160) ------------------------------------------------------------------------- Net income (loss) $36,800 $(143,576) $(106,776) $35,336 $4,719 $40,055 ------- --------- --------- ------- ------ ------- Diluted shares 80,931 (1,096) 79,835 80,650 - 80,650 Diluted earnings (loss) per share $0.45 $(1.79) $(1.34) $0.44 $0.06 $0.50 ----- ------ ------ ----- ----- ----- Effective tax rate 33.1% (15.2%) 33.0% 33.0% (1) Impairment charges consist of goodwill and other intangible asset impairments in the Money Transfer segment. Also reflects the related income tax benefit and share dilution. (2) Relates to the favorable impact of a non-recurring, non-cash operating tax item included in sales, general and administrative expenses. Also reflects the related income tax benefit. SCHEDULE 4 UNAUDITED CONSOLIDATED STATEMENTS OF INCOME GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands, except per share data) ------------------------------------------------------------------------- Nine Months Ended February 28/29, -------------------------------- 2009 2008 ---- ---- Revenues $1,199,483 $930,397 ------------------------------------------------------------------------- Operating expenses: Cost of service 445,248 350,483 Sales, general and administrative 512,587 394,023 Impairment and restructuring 147,664 1,317 ------- ----- 1,105,499 745,823 --------- ------- Operating income 93,984 184,574 ------------------------------------------------------------------------- Other income (expense): Interest and other income 6,573 14,643 Interest and other expense (6,642) (5,339) ------ ------ (69) 9,304 --- ----- Income before income taxes and minority interest 93,915 193,878 Provision for income taxes (66,539) (64,071) Minority interest, net of tax provision (benefit) of $1,028 and ($70), respectively (27,718) (7,864) ------------------------------------------------------------------------- Net (loss) income $(342) $121,943 ----- -------- (Loss) Earnings per share: Basic $- $1.53 --- ----- Diluted $- $1.51 --- ----- Weighted average shares outstanding: Basic 79,676 79,584 Diluted 79,676 81,023

SCHEDULE 5 SEGMENT INFORMATION GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) ------------------------------------------------------------------------- Nine Months Ended February 28/29, -------------------------------- 2009 2008 ---- ---- Revenues: --------- United States $599,082 $537,603 Canada 232,779 193,705 ------- ------- North America Merchant Services 831,861 731,308 Europe 194,881 42,365 Asia-Pacific 67,630 53,467 ------ ------ International Merchant Services 262,511 95,832 United States 84,596 86,003 Europe 20,515 17,254 ------ ------ Money Transfer 105,111 103,257 ---------- -------- Total Revenues $1,199,483 $930,397 ========== ======== Operating Income: ----------------- North America Merchant Services(1) $213,409 $205,007 International Merchant Services 62,136 14,309 Money Transfer 12,764 6,117 Corporate (46,661) (39,542) Impairment and Restructuring (147,664) (1,317) -------- ------ Operating Income $93,984 $184,574 ======= ======== (1) Includes the favorable impact of a non-recurring, non-cash operating tax item of $7.0 million in the nine months ended February 29, 2008. SCHEDULE 6 UNAUDITED CONSOLIDATED STATEMENTS OF INCOME GLOBAL PAYMENTS INC. AND SUBSIDIARIES Reconciliations to Exclude Impairment and Restructuring Charges and an Operating Tax Item from Normalized Results (In thousands, except per share data) ------------------------------------------------------------------------- Nine Months Ended February 28/29, 2009 2008 ------------------------------- --------------------------- Restructuring and Operating Tax Normalized Impairment(1) GAAP Normalized Item(2) GAAP ---------- ------------ ---- ---------- ------ ---- Revenues $1,199,483 $- $1,199,483 $930,397 $- $930,397 ------------------------------------------------------------------------- Operating expenses: Cost of service 445,248 - 445,248 350,483 - 350,483 Sales, general and administrative 512,587 - 512,587 401,071 (7,048 )394,023 Impairment and restructuring - 147,664 147,664 - 1,317 1,317 --- ------- ------- --- ----- ----- 957,835 147,664 1,105,499 751,554 (5,731) 745,823 ------- ------- --------- ------- ------ ------- Operating income 241,648 (147,664) 93,984 178,843 5,731 184,574 ------------------------------------------------------------------------- Other income (expense): Interest and other income 6,573 - 6,573 14,643 - 14,643 Interest and other expense (6,642) - (6,642) (5,339) - (5,339) ------ --- ------ ------ --- ------ (69) - (69) 9,304 - 9,304 --- --- --- ----- --- ----- Income before income taxes and minority interest 241,579 (147,664) 93,915 188,147 5,731 193,878 Provision for income taxes (70,627) 4,088 (66,539) (62,191) (1,880) (64,071) Minority interest, net of tax provision (benefit)of $1,028 and ($70), respectively (27,718) - (27,718) (7,864) - (7,864) ------------------------------------------------------------------------- Net income (loss) $143,234 $(143,576) $(342)$118,092 $3,851 $121,943 -------- --------- ----- -------- ------ -------- Diluted shares 81,055 (1,379) 79,676 81,023 - 81,023 Diluted earnings (loss) per share $1.77 $(1.77) $- $1.46 $0.05 $1.51 ----- ------ --- ----- ----- ----- Effective tax rate 32.7% 100.5% 34.5% 34.5% (1) Impairment charges consist of goodwill and other intangible asset impairments in the Money Transfer segment. Also reflects the related income tax benefit and share dilution. (2) Relates to the favorable impact of a non-recurring, non-cash operating tax item included in sales, general and administrative expenses. Restructuring charges consist of employee termination benefits relating to a facility closure. Also reflects the related income tax benefit. ------------------------------------------------------------------------- Year Ended May 31, 2008 ---- Normalized diluted earnings per share $1.98 Restructuring and other (3) 0.03 ---- GAAP diluted earnings per share $2.01 ----- (3) Full year fiscal 2008 diluted earnings per share was $2.01 on a GAAP basis, which includes restructuring and other charges, a favorable operating tax item, and an unfavorable foreign currency item. For more information, please see our fiscal 2008 earnings press releases, which were included as exhibits to our respective Form 8-Ks furnished to the SEC.

SCHEDULE 7 CONSOLIDATED BALANCE SHEETS GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) ------------------------------------------------------------------------- February 28, May 31, 2009 2008 ---- ---- (Unaudited) Assets ------ Cash and cash equivalents $387,593 $456,060 Accounts receivable, net 105,242 100,179 Claims receivable, net 554 1,354 Settlement processing assets 3,234 24,280 Inventory, net 6,370 3,821 Deferred income taxes 4,287 4,119 Prepaid expenses and other current assets 23,132 27,597 ------ ------ Current assets 530,412 617,410 Property and equipment, net 141,412 141,415 Goodwill 535,988 497,136 Other intangible assets, net 225,224 175,636 Other assets 11,560 14,310 ------ ------ Total assets $1,444,596 $1,445,907 ---------- ---------- Liabilities and Shareholders' Equity ------------------------------------ Lines of credit $4,110 $1,527 Current portion of term loan 25,000 - Payables to money transfer beneficiaries 8,830 9,276 Accounts payable and accrued liabilities 143,011 138,243 Settlement processing obligations 70,020 56,731 Income taxes payable 13,736 11,975 ------ ------ Current liabilities 264,707 217,752 Term loan 165,000 - Deferred income taxes 54,793 75,001 Other long-term liabilities 11,600 11,612 ------ ------ Total liabilities 496,100 304,365 ------- ------- Commitments and contingencies Minority interest in equity of subsidiaries 33,430 14,724 Preferred stock - - Common stock - - Paid-in capital 402,077 380,741 Retained earnings 616,725 621,875 Accumulated other comprehensive (loss) income (103,736) 124,202 -------- ------- Total shareholders' equity 915,066 1,126,818 ------- --------- Total liabilities and shareholders' equity $1,444,596 $1,445,907 ---------- ---------- SCHEDULE 8 UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) ------------------------------------------------------------------------- Nine Months Ended February 28/29, -------------------------------- 2009 2008 ---- ---- Cash flows from operating activities: Net (loss) income $(342) $121,943 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation and amortization of property and equipment 27,175 21,258 Amortization of acquired intangibles 23,222 10,962 Share-based compensation expense 10,954 9,853 Provision for operating losses and bad debts 20,256 21,884 Minority interest in earnings 28,746 7,794 Deferred income taxes (3,419) (3,757) Impairment of goodwill and identified intangible assets 147,664 - Other, net (87) (5,763) Changes in operating assets and liabilities, net of the effects of acquisitions: Accounts receivable (8,856) (6,976) Claims receivable (13,879) (18,123) Settlement processing assets and obligations, net 28,818 26,297 Inventory (2,314) (1,964) Prepaid expenses and other assets 6,832 (7,961) Payables to money transfer beneficiaries (446) 1,005 Accounts payable and accrued liabilities 2,692 (3,276) Income taxes payable 1,761 10,734 ----- ------ Net cash provided by operating activities 268,777 183,910 ------- ------- Cash flows from investing activities: Business and intangible asset acquisitions (454,279) (12,051) Capital expenditures (25,458) (31,926) Proceeds from sale of investment and contractual rights 6,796 - ----- --- Net cash used in investing activities (472,941) (43,977) -------- ------- Cash flows from financing activities: Net borrowings on lines of credit 2,583 1,126 Proceeds from term loan 200,000 - Principal payments under term loan (10,000) - Proceeds from stock issued under share-based compensation plans 7,961 15,229 Tax benefit from share-based compensation plans 2,421 7,384 Repurchase of common stock - (87,020) Dividends paid (4,808) (4,784) Contribution from minority interest holder 358 - Distributions to minority interests (23,258) (7,085) ------- ------ Net cash provided by (used in) financing activities 175,257 (75,150) ------- ------- Effect of exchange rate changes on cash (39,560) 14,812 ------- ------ (Decrease) increase in cash and cash equivalents (68,467) 79,595 Cash and cash equivalents, beginning of period 456,060 308,872 ------- ------- Cash and cash equivalents, end of period $387,593 $388,467 -------- --------

SCHEDULE 9 CONSTANT CURRENCY OUTLOOK GLOBAL PAYMENTS INC. AND SUBSIDIARIES (in millions, except for per share data) Q1 FY09 % change Q2 FY09 % change Actual Q1 FY08 Actual Q2 FY08 ------ ------- ------ ------- Fiscal 2009 Revenue ------------------- Constant Currency(1) $397 28% $424 37% Foreign currency impact(2) 9 3% (23) (7%) - - --- -- Total Revenues $406 31% $401 30% ==== == ==== == Fiscal 2009 Diluted Earnings Per Share -------------------------------------- Constant Currency(1) $0.68 27% $0.67 39% Foreign currency impact(2) 0.03 5% (0.07) (14%) ---- - ----- --- Normalized $0.71 32% $0.60 25% Impairment and Restructuring(3) - 2% - - --- - --- --- GAAP $0.71 34% $0.60 25% ===== == ===== == (in millions, except for per share data) Q3 FY09 % change Fiscal 2009 % change Actual Q3 FY08 Outlook FY08 ------ ------- ------- ---- Fiscal 2009 Revenue ------------------- Constant Currency(1) $428 38% $1,641 to $1,671 29% to 31% Foreign currency impact(2) (35) (11%) (91) (7%) --- --- --- -- Total Revenues $393 26% $1,550 to $1,580 22% to 24% ==== == ================ ========= Fiscal 2009 Diluted Earnings Per Share -------------------------------------- Constant Currency(1) $0.55 25% $2.40 to $2.47 21% to 25% Foreign currency impact(2) (0.10) (23%) (0.26) (13%) ----- --- ----- --- Normalized $0.45 2% $2.14 to $2.21 8% to 12% Impairment and Restructuring(3) (1.79) - (1.79) (91%) ----- --- ----- --- GAAP $(1.34) - $0.35 to $0.42 (83%) to (79%) ====== === ============== ============ (1) Reflects current period results excluding impairment charges on a pro forma basis as if foreign currency rates did not change from the comparable prior year period (2) Reflects the impact of actual and forecasted changes in foreign currency rates from the comparable prior year period. (3) For more information, please see Schedule 6 and our earnings press releases for each of these periods, which were included as exhibits to our respective Form 8-Ks furnished to the SEC.

Global Payments Inc.

Jane M. Elliott, +1-770-829-8234 Voice, or +1-770-829-8267 Fax, investor.relations@globalpay.com, of Global Payments Inc.; Photo: http://www.newscom.com/cgi-bin/prnh/20010221/ATW031LOGO

Call for Entries - Carrier Ethernet Expo Europe Awards

LONDON, April 2 /PRNewswire/ --

- Service provider, vendor, and individual awards to be presented at Ethernet Expo Europe 2009

Details were announced today of Light Reading's prestigious Carrier Ethernet annual awards to be judged by a panel of Carrier Ethernet industry experts and presented at Ethernet Expo: Europe 2009, May 13-14 at ExCel Conference Centre in London. Entries are invited for this outstanding opportunity to be recognized as a leader in the development and promotion of Carrier Ethernet across Europe. In addition to awarding the greatest individual contribution, the awards will honor service providers - both for overall portfolio and for individual service excellence - and vendors contributing the best access product and the best infrastructure product.

These awards, recognizing leadership and outstanding achievement in the European Ethernet products and services market, are entirely free to enter and are open to all service providers and vendors sponsoring Ethernet Expo Europe. Six categories will be represented this year:

- Ethernet Service Provider of the Year, Europe - Best Ethernet Service For the service provider that has launched the most promising new retail or wholesale Ethernet service in Europe since last year's European Ethernet Expo. - Ethernet Service Provider of the Year - Best Product Portfolio For the service provider offering the strongest Ethernet services connectivity and applications portfolio. - Carrier Ethernet Vendor of the Year, Europe - Best Access Product For the network equipment supplier that has begun shipping the best new Carrier Ethernet access platform (CEAP) in Europe since last year's European Ethernet Expo. CEAP solutions include Ethernet-over-TDM access circuit, Ethernet-over-bonded copper pair, Ethernet-over-fiber demarcation/access switching, and wireless platforms. Note that platforms should be MEF 9, MEF 14, and/or MEF 18 certified to qualify for consideration, and that this award is restricted to vendors included among the sponsors of Ethernet Expo Europe. - Carrier Ethernet Vendor of the Year, Europe - Best Infrastructure Product For the network equipment supplier that has begun shipping the best new Carrier Ethernet infrastructure platform in Europe since last year's European Ethernet Expo. Carrier Ethernet infrastructure solutions include Carrier Ethernet Switch/Routers (CESR), Ethernet Service Edge (ESE) Routers, and Packet Optical Transport Platforms (POTS). Note that platforms should be MEF 9, MEF 14, and/or MEF 18 certified to qualify for consideration, and that this award is restricted to vendors included among the sponsors of Ethernet Expo Europe. - Carrier Ethernet Person of the Year, Europe For the industry professional who has made the greatest contribution to advance the adoption of Carrier Ethernet services and/or technologies in Europe since last year's European Ethernet Expo. Qualifying candidates must be nominated by an industry peer and may work for a service provider, equipment or component supplier, and/or an industry organization.

The Ethernet Expo Europe Awards entry form can be found here: http://www.lightreading.com/europeawards

Chaired by Stan Hubbard, Senior Analyst at Heavy Reading, Ethernet Expo: Europe 2009 is the premier event covering the hot topic of Carrier Ethernet network technologies and services in Europe, the Middle East, and Africa (EMEA). In addition to providing a superb networking opportunity for service providers, equipment manufacturers, and enterprise MIS/IT decision makers, this year's Ethernet Expo is the first to be open to all interested European network/telecom press and media.

Additional information on Ethernet Expo Europe can be found here: www.ethernetexpoeurope.com. Registration for press and analysts is free.

Contact: Amy Averbook Director of Corporate Marketing Light Reading averbook@lightreading.com +1-212-925-0020 x112

About Light Reading

Founded in 2000, Light Reading (www.lightreading.com) is the leading online media, research, and focused event company serving the US$3 trillion worldwide communications market. Lightreading.com is the ultimate source for technology and financial analysis of the communications industry, leading the media sector in terms of traffic, content, and reputation. Light Reading's research arms, Heavy Reading and Pyramid Research, provide the most comprehensive communications research, market data, and technology analysis in close to 100 markets around the world. Light Reading produces nearly 20 targeted communications events including TelcoTV, Ethernet Expo New York and Ethernet Expo London, The Tower Summit @ CTIA, and Optical Expo, as well as focused one-day events tailored for cable, mobile, and wireline executives. Light Reading was acquired by United Business Media in August 2005 and operates as a unit of TechWeb.

About TechWeb

TechWeb (http://techweb.com/aboutus), the global leader in business technology media, is an innovative business focused on serving the needs of technology decision-makers and marketers worldwide. TechWeb produces the most respected and consumed media brands in the business technology market. Today, more than 13.3 million* business technology professionals actively engage in our communities created around our global face-to-face events, Interop, Web 2.0, Black Hat, and VoiceCon; online resources such as the TechWeb Network, Light Reading, Intelligent Enterprise, InformationWeek.com, bMighty.com, and The Financial Technology Network; and the market leading, award-winning InformationWeek, TechNet Magazine, MSDN Magazine, and Wall Street & Technology magazines. TechWeb also provides end-to-end services including next-generation performance marketing, integrated media, research, and analyst services. TechWeb is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than US$2.5 billion.

*13.3 million business decision-makers: based on number of monthly connections

About United Business Media Limited

UBM (UBM.L) focuses on two principal activities: worldwide information distribution, targeting, and monitoring; and, the development and monetization of B2B communities and markets. UBM's businesses inform markets and serve professional commercial communities - from doctors to game developers, from journalists to jewelry traders, from farmers to pharmacists - with integrated events, online, print and business information products. Our 6,500 staff in more than 30 countries are organized into specialist teams that serve these communities, bringing buyers and sellers together, helping them to do business and their markets to work effectively and efficiently. For more information, go to http://www.unitedbusinessmedia.com

Ethernet Expo Europe

Amy Averbook, Director of Corporate Marketing, Light Reading, +1-212-925-0020 x112, averbook@lightreading.com

Pennsylvania Educators Volunteer to Help Peers Statewide Teach With TechnologyTeachers share skills and expertise through trainings, networking events and social media

SILVER SPRING, Md., April 2 /PRNewswire/ -- Educators across Pennsylvania are empowering their peers through the Pennsylvania Discovery Educator Network Leadership Council. The Council's goal is to help teachers throughout Pennsylvania improve student achievement through the integration of educational technology and digital media into classroom instruction.

The Pennsylvania Discovery Educator Network Leadership Council is comprised of educators who volunteer to organize and lead professional development events on educational innovations that support state teachers as they integrate technology into existing curriculum. Any educator in the state is welcome to participate in the group's events.

In January 2008, Pennsylvania became one of the first states in the country to organize a leadership council. According to Meg Griffin, fourth grade teacher at Central Bucks School District and chair of the Pennsylvania Discovery Educator Network Leadership Council, the group was formed by teachers in the state who believe in the power of educational technology and digital media to heighten student engagement in learning. These teachers, said Griffin, were eager to meet others who shared their outlook and wanted to collaborate to identify new ways to integrate technology into classroom activities.

"Teachers across Pennsylvania, from Erie to Philadelphia, share the same challenges," said Griffin. "All educators desperately want to put technology in their classrooms to the best possible use to encourage their students to become productive 21st century citizens and lifelong learners. The Pennsylvania Discovery Educator Network Leadership Council offers events and resources designed to support Pennsylvania teachers, regardless of their familiarity with technology, as they implement new hi-tech tools to improve student achievement."

In her role as Council chair, Griffin coordinates statewide efforts to organize and conduct a variety of in-person conferences and workshops, online events, discussion boards, and blogs, which showcase the technology available to educators and provide guidance on how to integrate these resources into their instruction. Assisting Griffin is Bridget Belardi of Mt. Lebanon School District who manages the planning of Council events, and a team of 10 other educators from across the state.

"When we first began to plan events, we were concerned about people not showing up," said Griffin. "Happily, we found that many Pennsylvania educators share our opinion that technology is relevant to 21st century learners. Our students' lives are infused with technology outside of the classroom, from iPods to video games to digital cameras. If we ignore these tools and applications, we ignore the real world our students live and will someday work in."

Educators recently gathered online and in-person at the Harrisburg University of Science & Technology High School for a valuable day of professional development. During the event, participants learned about geocaching, professional learning networks, and specific strategies for integrating digital media into their curriculum.

This month, the Council will be hosting a regional gathering in conjunction with the international Discovery Educator Network Virtual Conference. Councils nationwide will be hosting in-person events complimenting the online sessions hosted by Discovery Education staff. The event will take place on April 25 at Philadelphia's Science Leadership Academy. The Discovery Educator Network Virtual Conference is presented by the Discovery Educator Network, a global community of more than 88,000 educators passionate about integrating media into classroom curriculum.

"I encourage educators everywhere to attend this free professional development event," said Griffin. "Not only is the Discovery Educator Network Virtual Conference an opportunity to learn the latest strategies and techniques to improve student achievement with educational technology, it's a great way to network with educators around the world."

The Pennsylvania Discovery Educator Network Leadership Council is supported by Discovery Education, a division of Discovery Communications, whose networks include the Discovery Channel and Science Channel.

To learn more about the Pennsylvania Discovery Educator Network Leadership Council, visit http://blog.discoveryeducation.com/pennsylvania/. To register for the Discovery Educator Network Virtual Conference, visit http://blog.discoveryeducation.com/denvirtcon.

About Discovery Education

Discovery Communications revolutionized television with Discovery Channel and is now transforming classrooms through Discovery Education. Powered by the number one nonfiction media company in the world, Discovery Education combines scientifically proven, standards-based digital media and a dynamic user community in order to empower teachers to improve student achievement. Already, more than half of all U.S. schools access Discovery Education digital services. Explore the future of education at http://www.discoveryeducation.com/.

Discovery Education

CONTACT: Stephen Wakefield of Discovery Education, +1-240-662-2893,
stephen_wakefield@discovery.com; or Emily Embury of C. Blohm & Associates,
+1-608-839-9806, emily@cblohm.com, for Discovery Education

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

Aehr Test Systems Reports Financial Results for Third Quarter Fiscal 2009

FREMONT, Calif., April 2 /PRNewswire-FirstCall/ -- Aehr Test Systems , a technology leader in the semiconductor test and burn-in equipment industry, today announced financial results for the third quarter of fiscal 2009 ended February 28, 2009.

Financial results for the third quarter reflect the impact of the bankruptcy filing of the Company's largest customer, Spansion. Due to the bankruptcy filing and to the current weak market for the Company's products, Aehr Test Systems recorded the following charges in the third quarter of fiscal 2009:

-- $13.7 million provision for bad debts -- $5.7 million provision for excess and obsolete inventory -- $4.9 million increase in the valuation allowance against the Company's deferred tax assets -- $0.5 million charge related to cancellation costs -- $0.3 million goodwill impairment charge -- $0.2 million severance charge

In aggregate, these charges recorded in the third quarter of fiscal 2009, total $25.3 million, or $3.00 per share.

Net sales were $1.2 million in the third quarter of fiscal 2009, compared with $10.8 million in the third quarter of fiscal 2008. Aehr Test reported a net loss of $27.7 million, or $3.28 per share, in the third quarter of fiscal 2009, compared with net income of $1.9 million, or $0.23 per diluted share, in the third quarter of fiscal 2008.

"We strongly believe that we are taking the appropriate actions that will enable Aehr Test to weather both the Spansion bankruptcy filing and the very weak market conditions," said Rhea Posedel, chairman and chief executive officer of Aehr Test Systems. "We have already significantly reduced our headcount and initiated other expense reduction measures. We intend to take additional actions as necessary to maintain sufficient cash to manage through this economic downturn.

"While the semiconductor capital equipment market remains very depressed, we are seeing interest in many of our new products, particularly our family of Advanced Burn-in and Test Systems (ABTS(TM)). Based on our sales pipeline, we believe additional ABTS customers will be added in the next three to six months.

"We expect that the next six to nine months will be very challenging, as it appears that a recovery in the semiconductor equipment market will not occur until later in the year, at the earliest. However, we are optimistic that when capital spending trends improve, our continuing investment in new product development and our strong product portfolio will enable us to add new customers and expand our market share," said Mr. Posedel.

Net sales were $20.2 million in the first nine months of fiscal 2009, compared with $28.1 million in the first nine months of fiscal 2008. Net loss for the nine months ended February 28, 2009 was $25.9 million, or $3.08 per share, compared with net income of $4.1 million, or $0.48 per diluted share, in the same period of the prior fiscal year.

At February 28, 2009, cash and cash equivalents were $7.4 million. Aehr Test closed the third quarter of fiscal 2009 with no outstanding debt and shareholders' equity of $13.5 million at February 28, 2009.

Management Conference Call

Management of Aehr Test will host a conference call and webcast today, April 2, 2009 at 5:00 p.m. Eastern (2:00 p.m. Pacific) to discuss the Company's third quarter fiscal 2009 operating results. The conference call will be accessible live via the internet at http://www.aehr.com/. Please go to the website at least 15 minutes before start time to register, download and install any necessary audio software. A replay of the webcast will be available at http://www.aehr.com/ for 90 days.

About Aehr Test Systems

Headquartered in Fremont, California, Aehr Test Systems is a leading worldwide provider of systems for burning-in and testing DRAMs, flash, and other memory and logic integrated circuits and has an installed base of more than 2,500 systems worldwide. Aehr Test has developed and introduced several innovative products, including the ABTS, FOX(TM), MTX and MAX systems and the DiePak(R) carrier. The ABTS is Aehr Test's newest system for packaged part test during burn-in for both low-power and high-power logic as well as all common types of memory devices. The FOX system is a full wafer contact test and burn-in system. The MTX system is a massively parallel test system designed to reduce the cost of memory testing by performing both test and burn-in on thousands of devices simultaneously. The MAX system can effectively burn-in and functionally test complex devices, such as digital signal processors, microprocessors, microcontrollers and systems-on-a-chip. The DiePak carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of bare die. For more information, please visit the Company's website at http://www.aehr.com/.

Safe Harbor Statement

This release contains forward-looking statements that involve risks and uncertainties relating to projections regarding revenues and customer demand and acceptance of Aehr Test's products. Actual results may vary from projected results. These risks and uncertainties include without limitation, world economic conditions, the timing of the recovery of the semiconductor equipment market, the Company's ability to maintain sufficient cash to support operations, acceptance by customers of Aehr Test's technologies, acceptance by customers of the systems shipped upon receipt of a purchase order and the ability of new products to meet customer needs or perform as described, and the Company's development and manufacture of a commercially successful wafer-level test and burn-in system. See Aehr Test's recent 10-K and 10-Q reports and other reports from time to time filed with the U.S. Securities and Exchange Commission for a more detailed description of the risks facing our business. The Company disclaims any obligation to update information contained in any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

Contact: Gary Larson Chief Financial Officer (510) 623-9400 x321 [Financial Tables to Follow] AEHR TEST SYSTEMS AND SUBSIDIARIES Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) Three Months Ended Nine Months Ended February 28, February 29, February 28, February 29, 2009 2008 2009 2008 Net sales $1,235 $10,792 $20,167 $28,127 Cost of sales 8,049 5,262 17,471 13,532 Gross (loss) profit (6,814) 5,530 2,696 14,595 Operating expenses: Selling, general and administrative 15,328 2,001 19,243 5,664 Research and development 1,596 1,826 4,651 4,919 Impairment of goodwill 274 -- 274 -- Total operating expenses 17,198 3,827 24,168 10,583 (Loss) income from operations (24,012) 1,703 (21,472) 4,012 Interest income 26 55 136 213 Other income (expense), net 7 38 384 (70) (Loss) income before income tax expense (benefit) (23,979) 1,796 (20,952) 4,155 Income tax expense (benefit) 3,701 (130) 4,991 84 Net (loss) income $(27,680) $1,926 $(25,943) $4,071 Net (loss) income per share Basic $(3.28) $0.24 $(3.08) $0.51 Diluted $(3.28) $0.23 $(3.08) $0.48 Shares used in per share calculations: Basic 8,450 8,025 8,424 7,919 Diluted 8,450 8,476 8,424 8,398 AEHR TEST SYSTEMS AND SUBSIDIARIES Reconciliation of GAAP and Non-GAAP Results (in thousands, except per share data) (unaudited) Three Months Ended Nine Months Ended February 28, February 29, February 28, February 29, 2009 2008 2009 2008 GAAP net (loss) income $(27,680) $1,926 $(25,943) $4,071 Provision for bad debts(1) 13,708 13,708 Restructuring and asset impairments(2) 6,670 6,670 Reinstatement of deferred tax asset valuation allowance 4,943 4,943 Stock compensation expense 331 216 947 612 Income tax effect on non-GAAP adjustments(3) 255 (4) -- (12) Non-GAAP net (loss) income $(1,773) $2,138 $325 $4,671 GAAP net (loss) income per diluted share $(3.28) $0.23 $(3.08) $0.48 Shares used in GAAP diluted shares calculation 8,450 8,476 8,424 8,398 Non-GAAP net (loss) income per diluted share $(0.21) $0.25 $0.04 $0.56 Shares used in non-GAAP diluted shares calculation 8,450 8,476 8,550 8,398 (1) Related to accounts receivable of Spansion Inc., which filed for bankruptcy in February and March 2009. (2) Includes provision for excess/obsolete inventory of $5.7 million, cancellation charges of $0.5 million, impairment of goodwill of $0.3 million and severance costs of $0.2 million. (3) Excludes $4.9 million tax provision related to reinstatement of the deferred tax asset valuation allowance. Non-GAAP net income is a non-GAAP measure and should not be considered a replacement for GAAP results. Non-GAAP net income is a financial measure the Company uses to evaluate the underlying results and operating performance of the business. The limitation of this measure is that it excludes items that impact the Company's current period net income. This limitation is best addressed by using this measure in combination with net income (the most comparable GAAP measure). AEHR TEST SYSTEMS AND SUBSIDIARIES Condensed Consolidated Balance Sheets (in thousands, except per share data) (unaudited) February 28, May 31, 2009 2008 ASSETS Current assets: Cash and cash equivalents $7,399 $15,648 Accounts receivable, net 1,075 10,927 Inventories 5,927 10,209 Deferred income taxes -- 3,043 Prepaid expenses and other 884 396 Total current assets 15,285 40,223 Property and equipment, net 2,792 2,278 Goodwill -- 274 Deferred income taxes -- 1,900 Other assets 525 524 Total assets $18,602 $45,199 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $1,703 $2,981 Accrued expenses 2,666 3,694 Deferred revenue 125 186 Total current liabilities 4,494 6,861 Income tax payable 320 297 Deferred lease commitment 309 269 Total liabilities 5,123 7,427 Shareholders' equity 13,479 37,772 Total liabilities and shareholders' equity $18,602 $45,199

Aehr Test Systems

CONTACT: Gary Larson, Chief Financial Officer of Aehr Test Systems,
+1-510-623-9400, ext. 321

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

VUANCE Receives Staff Determination Pursuant to Marketplace Rule 4310(c)(3) From NasdaqVUANCE to Request Hearing with Listings Qualifications Panel

FRANKLIN, Wis., April 2 /PRNewswire-FirstCall/ -- VUANCE, Ltd. , a leading provider of innovative Radio Frequency Verification Solutions, including active RFID, electronic access control, credentialing, accountability and incident response management, announced today that it has been informed by The Nasdaq Stock Market Inc. ("Nasdaq") on March 30, 2009 that it has not complied with the minimum $2.5 million in stockholders' equity, $35 million market capitalization, or $500,000 net income requirements for continued listing on The Nasdaq Capital Market set forth in Marketplace Rule 4310(c)(3), and therefore, trading of the Company's ordinary shares will be suspended at the opening of business on April 8, 2009, and a form 25-NSE will be filed with the SEC removing the Company's securities from listing and registration on The Nasdaq Capital Market, unless the Company requests an appeal of the delisting decision by Nasdaq.

The Company has the right to appeal the Nasdaq determination to a Nasdaq Listings Qualifications Panel (the "Panel") and the Company intends to appeal this determination. The appeal will automatically stay the delisting of the Company's common stock until the Panel reaches a decision. There can be no assurance that the Panel will grant the Company's request for continued listing.

In the event that the Panel denies the Company's request for continued listing on The Nasdaq Capital Market, the Company's common stock could be eligible for quotation and trading on the OTC Bulletin Board in accordance with applicable rules and regulations.

About VUANCE Ltd.

VUANCE Ltd. develops and markets state-of-the-art security solutions for viewing, tracking, locating, credentialing, and managing essential assets and personnel. VUANCE solutions encompass electronic access control, urban security, and critical situation management systems as well as long-range active RFID for public safety, commercial, and government sectors. The Company's comprehensive range of products enable our business partners to offer their customers end-to-end solutions that can overcome the most difficult security challenges. Its Incident Response Management System (IRMS) is the industry's most comprehensive mobile credentialing and access control system, designed to meet the needs of Homeland Security and other public initiatives. VUANCE is serious about security.

VUANCE Ltd. is headquartered in Rockville, MD. Its common stock is listed on the NASDAQ Capital Market under the symbol "VUNC". For more information, visit http://www.vuance.com/.

Safe Harbor

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded or followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts. Forward-looking statements in this release also include statements about business and economic trends. Investors should also consider the areas of risk described under the heading "Forward Looking Statements" and those factors captioned as "Risk Factors" in the Company's periodic reports under the Securities Exchange Act of 1934, as amended, or in connection with any forward-looking statements that may be made by the Company.

The Company also disclaims any duty to comment upon or correct information that may be contained in reports published by the investment community.

Investor/Media Contact Hayden Communications Brett Maas, 646-536-7331 brett@haydenir.com

VUANCE Ltd.

CONTACT: Brett Maas of Hayden Communications, +1-646-536-7331,
brett@haydenir.com, for VUANCE Ltd.

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

Global Payments Reports Third Quarter Earnings

ATLANTA, April 2 /PRNewswire-FirstCall/ -- Global Payments Inc. today announced results for its fiscal third quarter ended February 28, 2009. For the third quarter, revenues grew 26% to $392.7 million compared to $310.6 million in the prior year. Normalized diluted earnings per share grew 2% to $0.45 compared to $0.44 in the prior year quarter.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010221/ATW031LOGO )

On a GAAP basis we reported revenue of $392.7 million and a loss per share of ($1.34). These results include a non-cash, pretax impairment charge relating to our money transfer business of $147.7 million which was recorded as a result of the company's annual FAS 142 Goodwill and Other Intangible Assets review. The fair value of the money transfer business has significantly declined due to ongoing challenging macroeconomic and immigrant labor trends.

Comments and Outlook

"We are maintaining our 2009 annual revenue guidance of $1,550 million to $1,580 million, or 22% to 24% growth over fiscal 2008. In addition, our constant currency expectations for revenue growth of 29% to 31% remain unchanged from last quarter. We are also reaffirming fiscal 2009 normalized diluted EPS guidance of $2.14 to $2.21, reflecting 8% to 12% growth over fiscal 2008 (see Schedule 6 for details). Our constant currency outlook for normalized diluted earnings per share growth of 21% to 25% for fiscal 2009 also remains unchanged, in spite of a challenging economic environment," said Garcia.

Conference Call

Global Payments will hold a conference call today, April 2, 2009 at 5:00 p.m. EDT to discuss financial results and business highlights. Callers may access the conference call via the company's Web site at http://www.globalpaymentsinc.com/ by clicking the "Webcast" button; or callers may dial 1-888-740-6140 and callers outside U.S. and Canada may dial 1-913-312-1269. The pass code is "GPN." A replay of the call may be accessed through the Global Payments' Web site through April 16, 2009.

Global Payments Inc. is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Latin America, Europe, and the Asia-Pacific region. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. The company also provides consumer money transfer services from the United States and Europe to destinations in Latin America, Morocco, and the Philippines. For more information about the company and its services, visit http://www.globalpaymentsinc.com/.

Contact: Jane M. Elliott 770-829-8234 Voice 770-829-8267 Fax investor.relations@globalpay.com SCHEDULE 1 UNAUDITED CONSOLIDATED STATEMENTS OF INCOME GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands, except per share data) ------------------------------------------------------------------------- Three Months Ended February 28/29, --------------------------------- 2009 2008 ---- ---- Revenues $392,663 $310,641 ------------------------------------------------------------------------- Operating expenses: Cost of service 146,760 117,661 Sales, general and administrative 180,117 133,069 Impairment 147,664 - ------- ------- 474,541 250,730 ------- ------- Operating (loss) income (81,878) 59,911 ------------------------------------------------------------------------- Other income (expense): Interest and other income 1,200 4,767 Interest and other expense (2,222) (2,198) ------ ------ (1,022) 2,569 ------ ----- (Loss) income before income taxes and minority interest (82,900) 62,480 Provision for income taxes (15,818) (19,265) Minority interest, net of tax provision (benefit) of $1,703 and ($506), respectively (8,058) (3,160) ------------------------------------------------------------------------- Net (loss) income $(106,776) $40,055 --------- ------- (Loss) earnings per share: Basic $(1.34) $0.51 ------ ----- Diluted $(1.34) $0.50 ------ ----- Weighted average shares outstanding: Basic 79,835 79,219 Diluted 79,835 80,650 SCHEDULE 2 SEGMENT INFORMATION GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) ------------------------------------------------------------------------- Three Months Ended February 28/29, --------------------- 2009 2008 ---- ---- Revenues: --------- United States $206,237 $182,038 Canada 68,202 61,256 ------ ------ North America Merchant Services 274,439 243,294 Europe 62,109 14,455 Asia-Pacific 22,980 18,977 ------ ------ International Merchant Services 85,089 33,432 United States 26,605 28,007 Europe 6,530 5,908 ----- ----- Money Transfer 33,135 33,915 -------- -------- Total Revenues $392,663 $310,641 ======== ======== Operating Income: ----------------- North America Merchant Services(1) $57,909 $67,792 International Merchant Services 20,771 4,326 Money Transfer 3,403 1,156 Corporate (16,297) (13,363) Impairment (147,664) - -------- -------- Operating (Loss) Income $(81,878) $59,911 ======== ======= (1) Includes the favorable impact of a non-recurring, non-cash operating tax item of $7.0 million in the three months ended February 29, 2008. SCHEDULE 3 UNAUDITED CONSOLIDATED STATEMENTS OF INCOME GLOBAL PAYMENTS INC. AND SUBSIDIARIES Reconciliations to Exclude Impairment Charges and an Operating Tax Item from Normalized Results (In thousands, except per share data) ------------------------------------------------------------------------- Three Months Ended February 28/29, 2009 2008 ------------------------------- ----------------------- Operating Tax Normalized Impairment(1) GAAP Normalized Item(2) GAAP ---------- ------------ ---- ---------- ------ ---- Revenues $392,663 $- $392,663 $310,641 $- $310,641 ------------------------------------------------------------------------- Operating expenses: Cost of service 146,760 - 146,760 117,661 - 117,661 Sales, General and administrative 180,117 - 180,117 140,117 (7,048) 133,069 Impairment - 147,664 147,664 - - - --- ------- ------- --- --- --- 326,877 147,664 474,541 257,778 (7,048) 250,730 ------- ------- ------- ------- ------ ------- Operating income (loss) 65,786 (147,664) (81,878) 52,863 7,048 59,911 ------------------------------------------------------------------------- Other income (expense): Interest and other income 1,200 - 1,200 4,767 - 4,767 Interest and other expense (2,222) - (2,222) (2,198) - (2,198) ------ --- ------ ------ --- ------ (1,022) - (1,022) 2,569 - 2,569 ------ --- ------ ----- --- ----- Income before income taxes and minority interest 64,764 (147,664) (82,900) 55,432 7,048 62,480 Provision for income taxes (19,906) 4,088 (15,818) (16,936)(2,329) (19,265) Minority interest, net of tax provision (benefit) of $1,703 and ($506), respectively (8,058) - (8,058) (3,160) - (3,160) ------------------------------------------------------------------------- Net income (loss) $36,800 $(143,576) $(106,776) $35,336 $4,719 $40,055 ------- --------- --------- ------- ------ ------- Diluted shares 80,931 (1,096) 79,835 80,650 - 80,650 Diluted earnings (loss) per share $0.45 $(1.79) $(1.34) $0.44 $0.06 $0.50 ----- ------ ------ ----- ----- ----- Effective tax rate 33.1% (15.2%) 33.0% 33.0% (1) Impairment charges consist of goodwill and other intangible asset impairments in the Money Transfer segment. Also reflects the related income tax benefit and share dilution. (2) Relates to the favorable impact of a non-recurring, non-cash operating tax item included in sales, general and administrative expenses. Also reflects the related income tax benefit. SCHEDULE 4 UNAUDITED CONSOLIDATED STATEMENTS OF INCOME GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands, except per share data) ------------------------------------------------------------------------- Nine Months Ended February 28/29, -------------------------------- 2009 2008 ---- ---- Revenues $1,199,483 $930,397 ------------------------------------------------------------------------- Operating expenses: Cost of service 445,248 350,483 Sales, general and administrative 512,587 394,023 Impairment and restructuring 147,664 1,317 ------- ----- 1,105,499 745,823 --------- ------- Operating income 93,984 184,574 ------------------------------------------------------------------------- Other income (expense): Interest and other income 6,573 14,643 Interest and other expense (6,642) (5,339) ------ ------ (69) 9,304 --- ----- Income before income taxes and minority interest 93,915 193,878 Provision for income taxes (66,539) (64,071) Minority interest, net of tax provision (benefit) of $1,028 and ($70), respectively (27,718) (7,864) ------------------------------------------------------------------------- Net (loss) income $(342) $121,943 ----- -------- (Loss) Earnings per share: Basic $- $1.53 --- ----- Diluted $- $1.51 --- ----- Weighted average shares outstanding: Basic 79,676 79,584 Diluted 79,676 81,023 SCHEDULE 5 SEGMENT INFORMATION GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) ------------------------------------------------------------------------- Nine Months Ended February 28/29, -------------------------------- 2009 2008 ---- ---- Revenues: --------- United States $599,082 $537,603 Canada 232,779 193,705 ------- ------- North America Merchant Services 831,861 731,308 Europe 194,881 42,365 Asia-Pacific 67,630 53,467 ------ ------ International Merchant Services 262,511 95,832 United States 84,596 86,003 Europe 20,515 17,254 ------ ------ Money Transfer 105,111 103,257 ---------- -------- Total Revenues $1,199,483 $930,397 ========== ======== Operating Income: ----------------- North America Merchant Services(1) $213,409 $205,007 International Merchant Services 62,136 14,309 Money Transfer 12,764 6,117 Corporate (46,661) (39,542) Impairment and Restructuring (147,664) (1,317) -------- ------ Operating Income $93,984 $184,574 ======= ======== (1) Includes the favorable impact of a non-recurring, non-cash operating tax item of $7.0 million in the nine months ended February 29, 2008. SCHEDULE 6 UNAUDITED CONSOLIDATED STATEMENTS OF INCOME GLOBAL PAYMENTS INC. AND SUBSIDIARIES Reconciliations to Exclude Impairment and Restructuring Charges and an Operating Tax Item from Normalized Results (In thousands, except per share data) ------------------------------------------------------------------------- Nine Months Ended February 28/29, 2009 2008 ------------------------------- --------------------------- Restructuring and Operating Tax Normalized Impairment(1) GAAP Normalized Item(2) GAAP ---------- ------------ ---- ---------- ------ ---- Revenues $1,199,483 $- $1,199,483 $930,397 $- $930,397 ------------------------------------------------------------------------- Operating expenses: Cost of service 445,248 - 445,248 350,483 - 350,483 Sales, general and administrative 512,587 - 512,587 401,071 (7,048 )394,023 Impairment and restructuring - 147,664 147,664 - 1,317 1,317 --- ------- ------- --- ----- ----- 957,835 147,664 1,105,499 751,554 (5,731) 745,823 ------- ------- --------- ------- ------ ------- Operating income 241,648 (147,664) 93,984 178,843 5,731 184,574 ------------------------------------------------------------------------- Other income (expense): Interest and other income 6,573 - 6,573 14,643 - 14,643 Interest and other expense (6,642) - (6,642) (5,339) - (5,339) ------ --- ------ ------ --- ------ (69) - (69) 9,304 - 9,304 --- --- --- ----- --- ----- Income before income taxes and minority interest 241,579 (147,664) 93,915 188,147 5,731 193,878 Provision for income taxes (70,627) 4,088 (66,539) (62,191) (1,880) (64,071) Minority interest, net of tax provision (benefit)of $1,028 and ($70), respectively (27,718) - (27,718) (7,864) - (7,864) ------------------------------------------------------------------------- Net income (loss) $143,234 $(143,576) $(342) $118,092 $3,851 $121,943 -------- --------- ----- -------- ------ -------- Diluted shares 81,055 (1,379) 79,676 81,023 - 81,023 Diluted earnings (loss) per share $1.77 $(1.77) $- $1.46 $0.05 $1.51 ----- ------ --- ----- ----- ----- Effective tax rate 32.7% 100.5% 34.5% 34.5% (1) Impairment charges consist of goodwill and other intangible asset impairments in the Money Transfer segment. Also reflects the related income tax benefit and share dilution. (2) Relates to the favorable impact of a non-recurring, non-cash operating tax item included in sales, general and administrative expenses. Restructuring charges consist of employee termination benefits relating to a facility closure. Also reflects the related income tax benefit. ------------------------------------------------------------------------- Year Ended May 31, 2008 ---- Normalized diluted earnings per share $1.98 Restructuring and other (3) 0.03 ---- GAAP diluted earnings per share $2.01 ----- (3) Full year fiscal 2008 diluted earnings per share was $2.01 on a GAAP basis, which includes restructuring and other charges, a favorable operating tax item, and an unfavorable foreign currency item. For more information, please see our fiscal 2008 earnings press releases, which were included as exhibits to our respective Form 8-Ks furnished to the SEC. SCHEDULE 7 CONSOLIDATED BALANCE SHEETS GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) ------------------------------------------------------------------------- February 28, May 31, 2009 2008 ---- ---- (Unaudited) Assets ------ Cash and cash equivalents $387,593 $456,060 Accounts receivable, net 105,242 100,179 Claims receivable, net 554 1,354 Settlement processing assets 3,234 24,280 Inventory, net 6,370 3,821 Deferred income taxes 4,287 4,119 Prepaid expenses and other current assets 23,132 27,597 ------ ------ Current assets 530,412 617,410 Property and equipment, net 141,412 141,415 Goodwill 535,988 497,136 Other intangible assets, net 225,224 175,636 Other assets 11,560 14,310 ------ ------ Total assets $1,444,596 $1,445,907 ---------- ---------- Liabilities and Shareholders' Equity ------------------------------------ Lines of credit $4,110 $1,527 Current portion of term loan 25,000 - Payables to money transfer beneficiaries 8,830 9,276 Accounts payable and accrued liabilities 143,011 138,243 Settlement processing obligations 70,020 56,731 Income taxes payable 13,736 11,975 ------ ------ Current liabilities 264,707 217,752 Term loan 165,000 - Deferred income taxes 54,793 75,001 Other long-term liabilities 11,600 11,612 ------ ------ Total liabilities 496,100 304,365 ------- ------- Commitments and contingencies Minority interest in equity of subsidiaries 33,430 14,724 Preferred stock - - Common stock - - Paid-in capital 402,077 380,741 Retained earnings 616,725 621,875 Accumulated other comprehensive (loss) income (103,736) 124,202 -------- ------- Total shareholders' equity 915,066 1,126,818 ------- --------- Total liabilities and shareholders' equity $1,444,596 $1,445,907 ---------- ---------- SCHEDULE 8 UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) ------------------------------------------------------------------------- Nine Months Ended February 28/29, -------------------------------- 2009 2008 ---- ---- Cash flows from operating activities: Net (loss) income $(342) $121,943 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation and amortization of property and equipment 27,175 21,258 Amortization of acquired intangibles 23,222 10,962 Share-based compensation expense 10,954 9,853 Provision for operating losses and bad debts 20,256 21,884 Minority interest in earnings 28,746 7,794 Deferred income taxes (3,419) (3,757) Impairment of goodwill and identified intangible assets 147,664 - Other, net (87) (5,763) Changes in operating assets and liabilities, net of the effects of acquisitions: Accounts receivable (8,856) (6,976) Claims receivable (13,879) (18,123) Settlement processing assets and obligations, net 28,818 26,297 Inventory (2,314) (1,964) Prepaid expenses and other assets 6,832 (7,961) Payables to money transfer beneficiaries (446) 1,005 Accounts payable and accrued liabilities 2,692 (3,276) Income taxes payable 1,761 10,734 ----- ------ Net cash provided by operating activities 268,777 183,910 ------- ------- Cash flows from investing activities: Business and intangible asset acquisitions (454,279) (12,051) Capital expenditures (25,458) (31,926) Proceeds from sale of investment and contractual rights 6,796 - ----- --- Net cash used in investing activities (472,941) (43,977) -------- ------- Cash flows from financing activities: Net borrowings on lines of credit 2,583 1,126 Proceeds from term loan 200,000 - Principal payments under term loan (10,000) - Proceeds from stock issued under share-based compensation plans 7,961 15,229 Tax benefit from share-based compensation plans 2,421 7,384 Repurchase of common stock - (87,020) Dividends paid (4,808) (4,784) Contribution from minority interest holder 358 - Distributions to minority interests (23,258) (7,085) ------- ------ Net cash provided by (used in) financing activities 175,257 (75,150) ------- ------- Effect of exchange rate changes on cash (39,560) 14,812 ------- ------ (Decrease) increase in cash and cash equivalents (68,467) 79,595 Cash and cash equivalents, beginning of period 456,060 308,872 ------- ------- Cash and cash equivalents, end of period $387,593 $388,467 -------- -------- SCHEDULE 9 CONSTANT CURRENCY OUTLOOK GLOBAL PAYMENTS INC. AND SUBSIDIARIES (in millions, except for per share data) Q1 FY09 % change Q2 FY09 % change Actual Q1 FY08 Actual Q2 FY08 ------ ------- ------ ------- Fiscal 2009 Revenue ------------------- Constant Currency(1) $397 28% $424 37% Foreign currency impact(2) 9 3% (23) (7%) - - --- -- Total Revenues $406 31% $401 30% ==== == ==== == Fiscal 2009 Diluted Earnings Per Share -------------------------------------- Constant Currency(1) $0.68 27% $0.67 39% Foreign currency impact(2) 0.03 5% (0.07) (14%) ---- - ----- --- Normalized $0.71 32% $0.60 25% Impairment and Restructuring(3) - 2% - - --- - --- --- GAAP $0.71 34% $0.60 25% ===== == ===== == (in millions, except for per share data) Q3 FY09 % change Fiscal 2009 % change Actual Q3 FY08 Outlook FY08 ------ ------- ------- ---- Fiscal 2009 Revenue ------------------- Constant Currency(1) $428 38% $1,641 to $1,671 29% to 31% Foreign currency impact(2) (35) (11%) (91) (7%) --- --- --- -- Total Revenues $393 26% $1,550 to $1,580 22% to 24% ==== == ================ ========= Fiscal 2009 Diluted Earnings Per Share -------------------------------------- Constant Currency(1) $0.55 25% $2.40 to $2.47 21% to 25% Foreign currency impact(2) (0.10) (23%) (0.26) (13%) ----- --- ----- --- Normalized $0.45 2% $2.14 to $2.21 8% to 12% Impairment and Restructuring(3) (1.79) - (1.79) (91%) ----- --- ----- --- GAAP $(1.34) - $0.35 to $0.42 (83%) to (79%) ====== === ============== ============ (1) Reflects current period results excluding impairment charges on a pro forma basis as if foreign currency rates did not change from the comparable prior year period (2) Reflects the impact of actual and forecasted changes in foreign currency rates from the comparable prior year period. (3) For more information, please see Schedule 6 and our earnings press releases for each of these periods, which were included as exhibits to our respective Form 8-Ks furnished to the SEC.

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PRN Photo Desk, photodesk@prnewswire.com Global Payments Inc.

CONTACT: Jane M. Elliott, +1-770-829-8234 Voice, or +1-770-829-8267 Fax,
investor.relations@globalpay.com, of Global Payments Inc.

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

Listen Up: MP3s Available Later Today From the Verizon Wireless Online Media StoreTiered Pricing for MP3s on the Desktop Begins April 7

Las Vegas, and BASKING RIDGE, N.J., April 2 /PRNewswire/ -- From CTIA WIRELESS 2009(R), Verizon Wireless, the industry leader in mobile music, said today it is adding more than 5 million MP3s to its online media store, giving customers all the music they love with the newest, hottest songs they want in one destination. Beginning later today, MP3s join the ringtones and ringback tones available to customers at http://mediastore.verizonwireless.com/ or http://vzw.com/mp3.

Verizon is the first telecommunications company in the United States to bring MP3s to customers in its online media store, making it simple to purchase and download music, then listen to that music on any MP3-capable device. Customers simply choose titles from multiple genres available on the site, preview the music, log in to purchase, download then play it on their computers or any MP3-capable devices, including sideloading to Verizon Wireless music-capable handsets.

Mike Lanman, vice president and chief marketing officer of Verizon Wireless, said, "Being the first wireless company to add MP3s to our online media store gives our customers a one-stop shopping experience for all kinds of music -- ringtones and ringback tones and now MP3s. We have long led in mobile music, and together with the new pricing options we will continue to set the standard for the industry."

Tiered Pricing for Music Launches April 7

Beginning this Tuesday, Verizon Wireless plans to offer its customers tiered pricing for MP3s purchased online. The new pricing offers value for customers who want to explore and discover many classic catalog titles, find the latest releases, or listen to anything in between. The prices will be:

-- $1.29 for new releases and best-selling releases; -- 99 cents for most major contemporary releases; -- 69 cents for most classic catalog releases.

V CAST Music is among the first services to provide music fans with these pricing options, giving customers choices and flexibility as they build their mobile music libraries. Prices for ringtones and ringback tones remain unchanged.

Verizon Wireless is a proven leader in mobile music and offers customers access to millions of songs and tens of thousands of ringtones and ringback tones from its unique relationships with the hottest artists, exclusive music services and devices. V CAST Music allows customers to purchase and download the vast majority of its full-track music catalog to their PCs without digital rights management (DRM) restrictions.

For more information on mobile music from Verizon Wireless, visit a Verizon Wireless Communications Store, call 1-800-2 JOIN IN or visit http://www.verizonwireless.com/music. To purchase music, visit the Verizon Media Store at http://mediastore.verizonwireless.com/.

About Verizon Wireless

Verizon Wireless operates the nation's most reliable and largest wireless voice and data network, serving more than 80 million customers. Headquartered in Basking Ridge, N.J., with more than 85,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, visit http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

Verizon Wireless

CONTACT: Debra Lewis of Verizon Wireless, +1-908-559-7512 (office) or
+1-917-848-0035 (mobile), Debra.Lewis@verizonwireless.com

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

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

Allscripts Reports Fiscal 2009 Third Quarter ResultsCompany Reports Earnings per Share of 9 cents and Non-GAAP Earnings per Share of 15 cents

CHICAGO, April 2 /PRNewswire-FirstCall/ -- Allscripts-Misys Healthcare Solutions, Inc. (Allscripts) today announced its financial results for the three and nine months ended February 28, 2009.

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The Company's results for the three months ended February 28, 2009 include results of Allscripts for the complete fiscal quarter. The Company's results for the three months ended February 29, 2008 include only the results of Misys Healthcare Systems, LLC (Misys). The Company's results for the nine months ended February 28, 2009 include results from legacy Allscripts for the period of October 11, 2008 through February 28, 2009, and from Misys for all periods presented. A subsidiary of Allscripts merged with Misys, formerly a division of Misys plc, on October 10, 2008, at which time Allscripts changed its legal name to Allscripts-Misys Healthcare Solutions, Inc.

Total revenue for the three months ended February 28, 2009 was $160.7 million, compared to $97.1 million for the same period last year. Non-GAAP revenue for the three months ended February 28, 2009 was $163.8 million, compared to non-GAAP revenue of $165.3 million for the same period last year. Non-GAAP revenue for the three months ended February 28, 2009 and February 29, 2008 are comprised of revenue from Allscripts and Misys for the full three-month period of each respective year, giving effect to the add-back of a deferred revenue adjustment of $3.1 million recorded for GAAP purposes in the three month period ended February 28, 2009. Please see "Explanation of Non-GAAP Financial Measures" below for a discussion of non-GAAP measures.

Total GAAP revenue for software and related services during the three months ended February 28, 2009 was $152.2 million, compared to $97.1 million for the same period last year. Non-GAAP revenue for software and related services for the three months ended February 28, 2009 and February 29, 2008 was $155.3 million and $155.7 million, respectively.

Gross margin percentage was 51.8% for the third quarter of fiscal 2009, compared to 54.0% during the third quarter of fiscal 2008. Based on non-GAAP revenue for each respective quarter, gross margin percentage was 52.7% for the third quarter of fiscal 2009, compared to 52.6% during the third quarter of fiscal 2008.

Net income for the three months ended February 28, 2009 was $13.2 million compared to net income of $10.0 million for the same period last year. Earnings for the three months ended February 28, 2009 were 9 cents per share.

Non-GAAP net income for the three months ended February 28, 2009 was $22.3 million, compared to non-GAAP net income of $16.2 million for the same period last year, representing an increase of 38%. Non-GAAP net income for the three months ended February 28, 2009 and 2008 are comprised of net income giving effect to the add-back of acquisition-related amortization of $3.7 million and $2.1 million, respectively, net of tax; total stock-based compensation expense of $1.4 million and $1.6 million, respectively, net of tax; and transaction-related expenses of $2.1 million and $2.7 million, net of tax. Non-GAAP net income for the three months ended February 28, 2009 also gives effect to the deferred revenue adjustment of $1.9 million, net of tax. Non-GAAP net income for the three months ended February 29, 2008 gives effect to the tax adjustment of ($0.1) million, net of tax, and the add-back of legacy Allscripts net loss for the period prior to the consummation date of the merger of ($0.1) million, net of tax. Non-GAAP earnings for the three months ended February 28, 2009 were 15 cents per share.

As of February 28, 2009 the Company had cash and marketable securities of $77.5 million, of which approximately $24.9 million has been used to fund purchases of shares of the Company's common stock pursuant to the Company's previously announced stock buy-back program since February 28, 2009

"Our results reflect the continuing success of the merger of Allscripts and Misys Healthcare and our solid operating performance," said Glen Tullman, Chief Executive Officer of Allscripts. "I'm especially pleased with the way Allscripts is positioned to capitalize on the substantial incentives that exist for physicians today and that are coming on line as a part of the HITECH provisions of the American Reinvestment and Recovery Act of 2009."

Total revenue for the nine months ended February 28, 2009 was $382.2 million, compared to $286.7 million for the nine months ended February 29, 2008. Non-GAAP revenue for the nine months ended February 28, 2009 was $511.7 million, compared to non-GAAP revenue of $494.4 million for the same period last year. Non-GAAP revenue for the nine months ended February 28, 2009 and February 29, 2008 are comprised of revenue from Allscripts and Misys for the first nine months of each respective year giving effect to the add-back of a deferred revenue adjustment of $5.2 million recorded for GAAP purposes in the nine month period ended February 28, 2009. Total GAAP revenue for software and related services during the nine months ended February 28, 2009 was $369.0 million, compared to $286.7 million for the same period last year. Non-GAAP revenue for software and related services for the nine months ended February 28, 2009 and February 29, 2008 was $483.3 million and $462.0 million.

Gross margin percentage was 52.4% for the nine months ended February 28, 2009, compared to 54.4% for the comparable period a year ago. Based on non-GAAP revenue for each respective nine-month period, gross margin percentage was 52.5% for the first nine months of fiscal 2009, compared to 52.8% during the first nine months of fiscal 2008.

Net income for the nine months ended February 28, 2009 was $12.7 million compared to net income of $14.5 million, for the same period last year. Earnings for the nine months ended February 28, 2009 were 11 cents per share.

Non-GAAP net income for the nine months ended February 28, 2009 was $54.5 million compared to non-GAAP net income of $43.5 million for the same period last year, representing an increase of 25%. Non-GAAP net income for the nine months ended February 28, 2009 and February 29, 2008 is comprised of net income giving effect to the add-back of Allscripts net income for respective periods prior to the consummation date of the merger of $6.7 million and $9.5 million, respectively, net of tax; acquisition-related amortization of $8.8 million and $11.8 million, respectively, net of tax; total stock-based compensation expense of $3.5 million and $4.3 million, respectively, net of tax; and transaction-related expenses of $19.6 million and $5.5 million, net of tax. Non-GAAP net income for the nine months ended February 28, 2009 also gives effect to the deferred revenue adjustment of $3.2 million, net of tax. Non-GAAP net income for the nine months ended February 29, 2008 gives effect to the tax adjustment of ($2.1) million, net of tax. Non-GAAP earnings for the nine months ended February 28, 2009 were 46 cents per share.

Conference Call

Allscripts will conduct a conference call on Thursday, April 2, 2009 at 4:30 PM Eastern Time. The conference call can be accessed via the Internet at http://www.allscripts.com/, or by dialing (800) 374-1376 and requesting the Allscripts investor presentation. International callers can access the audio portion of the webcast by dialing (706) 679-4010 and requesting the Allscripts investor presentation. A Microsoft Windows Media Player web replay will be available three hours after the conclusion of the call for a period of two weeks at http://www.allscripts.com/ or by calling (800) 642-1687 - or (706) 645-9291 for international callers - ID # 88991513.

Explanation of Non-GAAP Financial Measures

Allscripts reports its financial results in accordance with generally accepted accounting principles, or GAAP. To supplement this information, Allscripts presents in this press release non-GAAP revenue and net income, which are non-GAAP financial measures under Section 101 of Regulation G under the Securities Exchange Act of 1934, as amended. Non-GAAP revenue consists of GAAP revenue but then includes legacy Allscripts revenue for periods prior to the consummation date of the Misys merger and adds-back the deferred revenue adjustment booked for GAAP purposes. Non-GAAP net income consists of GAAP net income but then includes legacy Allscripts net income for periods prior to the consummation date of the Misys merger, adds-back the deferred revenue adjustment and excludes acquisition-related amortization, stock-based compensation expense under SFAS No. 123R, and transaction-related expenses, in each case net of any related tax benefit.

-- Deferred Revenue Adjustment. Deferred revenue adjustment reflects the fair value adjustment to deferred revenues acquired in connection with the transactions consummated with Misys plc on October 10, 2008. The fair value of deferred revenue represents an amount equivalent to the estimated cost plus an appropriate profit margin, to perform services related to legacy Allscripts' software and product support, which assumes a legal obligation to do so, based on the deferred revenue balances as of October 10, 2008. Allscripts adds back this deferred revenue adjustment for non-GAAP revenue and non-GAAP net income because it believes the inclusion of this amount directly correlates to the underlying performance of Allscripts' operations. -- Acquisition-Related Amortization. Acquisition-related amortization expense is a non-cash expense arising from the acquisition of intangible assets in connection with acquisitions or investments. Allscripts excludes acquisition-related amortization expense from non-GAAP net income because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of Allscripts business operations and (ii) such expenses can vary significantly between periods as a result of new acquisitions and full amortization of previously acquired intangible assets. Investors should note that the use of these intangible assets contributed to revenue in the periods presented and will contribute to future revenue generation and should also note that such expense will recur in future periods. -- Stock-Based Compensation Expense. Stock-based compensation expense is a non-cash expense arising from the grant of stock awards to employees. Allscripts excludes stock-based compensation expense from non-GAAP net income because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of Allscripts business operations and (ii) such expenses can vary significantly between periods as a result of the timing of grants of new stock-based awards, including grants in connection with acquisitions. Investors should note that stock-based compensation is a key incentive offered to employees whose efforts contributed to the operating results in the periods presented and are expected to contribute to operating results in future periods and should also note that such expense will recur in future periods. -- Transaction-Related Expenses. Transaction-related expenses are fees and expenses, including legal, investment banking and accounting fees, incurred in connection with announced transactions. Allscripts excludes transaction-related expenses from non-GAAP net income because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of Allscripts business operations and (ii) such expenses can vary significantly between periods.

Management also believes that non-GAAP revenue and net income provide useful supplemental information to management and investors regarding the underlying performance of the Company's business operations and facilitates comparisons to our historical operating results. Management also uses this information internally for forecasting and budgeting as it believes that the measure is indicative of the Company's core operating results. Note however, that non-GAAP revenue and net income are performance measures only, and they do not provide any measure of the Company's cash flow or liquidity. Non-GAAP financial measures are not in accordance with, or an alternative for, measures of financial performance prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Allscripts results of operations as determined in accordance with GAAP. Investors and potential investors are encouraged to review the reconciliation of non-GAAP financial measures with GAAP financial measures contained within the attached condensed consolidated financial statements.

About Allscripts

Allscripts uses innovation technology to bring health to healthcare. More than 150,000 physicians, 700 hospitals and nearly 7,000 post-acute and homecare organizations utilize Allscripts to improve the health of their patients and their bottom line. The company's award-winning solutions include electronic health records, electronic prescribing, revenue cycle management, practice management, document management, medication services, hospital care management, emergency department information systems and homecare automation. Allscripts is the brand name of Allscripts-Misys Healthcare Solutions, Inc. To learn more, visit http://www.allscripts.com/.

This news release may contain forward-looking statements within the meaning of the federal securities laws. Statements regarding future events, developments, the Company's future performance, as well as management's expectations, beliefs, intentions, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. These forward-looking statements are subject to a number of risks and uncertainties, some of which are outlined below. As a result, actual results may vary materially from those anticipated by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: the volume and timing of systems sales and installations; length of sales cycles and the installation process; the possibility that products will not achieve or sustain market acceptance; the timing, cost and success or failure of new product and service introductions, development and product upgrade releases; competitive pressures including product offerings, pricing and promotional activities; our ability to establish and maintain strategic relationships; undetected errors or similar problems in our software products; compliance with existing laws, regulations and industry initiatives and future changes in laws or regulations in the healthcare industry; possible regulation of the Company's software by the U.S. Food and Drug Administration; the possibility of product-related liabilities; our ability to attract and retain qualified personnel; our ability to identify and complete acquisitions, manage our growth and integrate acquisitions; the ability to recognize the benefits of the merger with Misys Healthcare Systems, LLC ("Misys"); the integration of Misys with the Company and the possible disruption of current plans and operations as a result thereof; the implementation and speed of acceptance of the electronic record provisions of the American Recovery and Reinvestment Act of 2009; maintaining our intellectual property rights and litigation involving intellectual property rights; risks related to third-party suppliers; our ability to obtain, use or successfully integrate third-party licensed technology; breach of our security by third parties; and the risk factors detailed from time to time in our reports filed with the Securities and Exchange Commission, including our 2007 Annual Report on Form 10-K available through the Web site maintained by the Securities and Exchange Commission at http://www.sec.gov/. The Company undertakes no obligation to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise.

Allscripts-Misys Healthcare Solutions, Inc. Condensed Consolidated Balance Sheets (amounts in millions) February 28, May 31, 2009 2008 ---- ---- (Unaudited) Assets Current Assets Cash and Cash Equivalents $69.9 $0.3 Marketable Securities 5.0 - Accounts Receivable, Net 168.0 48.3 Deferred Income Tax Assets 6.1 0.9 Inventories, Net 6.1 1.9 Prepaid Expenses and Other Current Assets 30.0 9.9 ----- ---- Total Current Assets 285.1 61.3 Long-term Marketable Securities 2.6 - Fixed Assets, Net 19.0 6.1 Software Development Costs, Net 7.7 - Deferred Income Tax Assets - 8.3 Intangible Assets, Net 238.7 8.6 Goodwill, Net 412.3 82.4 Other Long-Term Assets 14.6 12.6 ------ ------ Total Assets $980.0 $179.3 ------ ------ Liabilities Current Liabilities Accounts Payable $21.6 $14.3 Accrued Expenses 40.8 12.6 Accrued Compensation 17.2 9.7 Deferred Revenue 90.9 27.2 Current Portion of Long-term Debt, Line of Credit and Capital Lease Obligation 0.9 4.3 ----- ---- Total Current Liabilities 171.4 68.1 Long-Term Liabilities Long-term Debt 66.7 0.6 Deferred Income Tax Liabilities 20.1 - Other Liabilities 2.4 - ----- ---- Total Liabilities 260.6 68.7 Total Stockholders' Equity 719.4 110.6 ------ ------ Total Liabilities and Stockholders' Equity $980.0 $179.3 ------ ------ Allscripts-Misys Healthcare Solutions, Inc. Condensed Consolidated Statements of Operations (amounts in millions, except per-share amounts) (Unaudited) Three Months Nine Months Ended Ended February 28, February 28, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- Revenue System sales $27.4 $17.9 $61.2 $49.2 Professional services 15.9 7.4 35.1 22.4 Maintenance 56.1 35.5 139.5 105.7 Transaction processing and other 52.8 36.3 133.2 109.4 Prepackaged medications 8.5 - 13.2 0.0 --- --- ---- ---- Total revenue 160.7 97.1 382.2 286.7 ----- ---- ----- ------ Cost of revenue System sales 15.0 10.1 34.4 26.3 Professional services 16.2 6.5 34.6 19.6 Maintenance 20.0 14.2 51.7 42.6 Transaction processing and other 19.5 13.9 50.8 42.2 Prepackaged medications 6.7 - 10.6 0.0 --- --- ---- ---- Total cost of revenue 77.4 44.7 182.1 130.7 ---- ---- ----- ------ Gross profit 83.3 52.4 200.1 156.0 Selling, general and administrative 47.7 27.1 144.7 93.0 Research and development 9.9 8.7 28.8 28.3 Amortization of intangibles 2.9 0.2 4.3 11.1 --- --- --- ----- Income from operations 22.8 16.4 22.3 23.6 Interest expense (1.0) (0.1) (1.7) (0.2) Interest income and other, net 0.1 0.0 0.4 0.1 --- --- --- ---- Net income from operations before tax 21.9 16.3 21.0 23.5 Income tax provision (8.7) (6.3) (8.3) (9.0) ---- ---- ---- ----- Net income $13.2 $10.0 $12.7 $14.5 ----- ----- ----- ----- Net income per share - basic and diluted $0.09 $0.12 $0.11 $0.18 ===== ===== ===== ===== Weighted average shares of common stock outstanding used in computing basic net income per share 146.1 82.9 115.7 82.9 ===== ==== ===== ===== Weighted average shares of common stock outstanding used in computing diluted net income per share 151.1 82.9 118.1 82.9 ===== ==== ===== ===== Allscripts-Misys Healthcare Solutions, Inc. Condensed Non-GAAP Financial Information (amounts in millions, except per-share amounts) (Unaudited) Three Months Nine Months Non-GAAP Revenue Ended Ended February 28, February 28, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- Software and related services revenue, as reported $152.2 $97.1 $369.0 $286.7 AHS revenue pre-merger - 58.6 109.1 175.3 Deferred revenue adjustment 3.1 - 5.2 - ----- ----- ----- ----- Total non-GAAP software and related services revenue 155.3 155.7 483.3 462.0 Prepackaged medications revenue, as reported 8.5 - 13.2 - AHS revenue pre-merger - 9.6 15.2 32.4 --- --- ---- ---- Total non-GAAP prepackaged medications revenue 8.5 9.6 28.4 32.4 ------ ------ ------ ------ Total Non-GAAP Revenue $163.8 $165.3 $511.7 $494.4 ====== ====== ====== ====== Non-GAAP Net Income (All adjustments tax effected at 40% for fiscal 2009 Three Months Nine Months and 39% for fiscal 2008) Ended Ended February 28, February 28, ------------ ------------ 2009 2008 2009 2008 ---- ---- ---- ---- Net income, as reported $13.2 $10.0 $12.7 $14.5 AHS net income (loss) pre-merger (A) 0.0 (0.1) 6.7 9.5 Deferred revenue adjustment 1.9 - 3.2 - Stock-based compensation expense (A) 1.4 1.6 3.5 4.3 Acquisition-related amortization expense 3.7 2.1 8.8 11.8 Transaction-related expense 2.1 2.7 19.6 5.5 Tax adjustment for fiscal 2008 to 39% 0.0 (0.1) 0.0 (2.1) ----- ----- ----- ----- Non-GAAP Net Income $22.3 $16.2 $54.5 $43.5 ----- ----- ----- ----- Weighted average shares of common stock outstanding used in computing diluted non-GAAP adjusted net income per share 151.1 82.9 118.1 82.9 ----- ----- ----- ----- Non-GAAP Net Income Per Share - diluted $0.15 $0.20 $0.46 $0.52 ===== ===== ===== ===== (A) Excludes $28.1M of transaction-related expenses for the nine months ended February 28, 2009, including $13.1M of stock-based compensation, incurred by AHS in the pre-merger period, net of tax.

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PRN Photo Desk, photodesk@prnewswire.com Allscripts-Misys Healthcare Solutions, Inc.

CONTACT: Dan Michelson, Chief Marketing Officer, +1-312-506-1217,
dan.michelson@allscripts.com, or Todd Stein, Senior Manager/Public Relations,
+1-312-506-1216, todd.stein@allscripts.com, or William Davis, Chief Financial
Officer, +1-312-506-1211, bill.davis@allscripts.com, all of Allscripts

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

Synopsys IC Compiler Zroute Wins EDN Innovation Award

MOUNTAIN VIEW, Calif., April 2 /PRNewswire-FirstCall/ -- Synopsys, Inc. , a world leader in software and IP for semiconductor design and manufacturing, today announced that IC Compiler Zroute has been selected by EDN as the winner of this year's Innovation Award in the 'EDA: Design Creation and IP' category. Zroute is a new state-of-the-art full-chip router, built from the ground up to address forward-looking challenges in chip complexity and manufacturability. Held Monday in San Jose, California, EDN's 19th Annual Innovation Awards ceremony honored a diverse group of electronics engineers and the ground-breaking products they produce.

"Its on-average 10X routing speed-up, coupled with enhanced features to address manufacturability, have moved IC Compiler Zroute into broad usage within a few months of its initial production release," said Antun Domic, senior vice president and general manager of Synopsys' Implementation Group. "We continue to help solve our customers' most pressing issues in design productivity. This award from EDN, recognizing the value delivered by Zroute, demonstrates how Synopsys continues to lead through technical innovation."

Synopsys introduced Zroute into IC Compiler to address emerging design and design-for-manufacturing (DFM) challenges. Zroute offers three important differentiators: state-of-the-art routing technology, concurrent DFM optimizations, and near-linear multi-threading performance increase throughout. In addition to providing a boost in routing speed of 10X on average using mainstream quad-core compute platforms, Zroute provides superior via-optimizations, significantly enhanced lithography-friendly routing patterns, and overall faster design closure. Zroute has been available as a standard capability in IC Compiler since the 2008.09 release, offering an alternate choice for routing technology which can be enabled by customers as required. Zroute is in active production use world-wide, across a diverse set of applications.

The EDN Innovation program relies on a multitier process to choose finalists and winners. Working in panels organized by area of expertise, EDN's technical editors select finalists from the large number of deserving entries nominated each fall. After the list of finalists is published, EDN's worldwide audience of electronics engineers and engineering managers vote via online ballot. These reader votes are combined with the votes of EDN's editorial staff and consulting editor to determine the winners.

"EDN editors evaluated hundreds of submissions to determine the products we would present to our readers as finalists in 26 categories for EDN's 19th Annual Innovation Awards," said Rick Nelson, EDN editor-in-chief. "With its focus on multicore architectures and DFM problem solving, Zroute was a strong contender, and readers and editors voted it the winner in the 'EDA: Design Creation and IP' category."

About Synopsys

Synopsys, Inc. is a world leader in electronic design automation (EDA), supplying the global electronics market with the software, intellectual property (IP) and services used in semiconductor design and manufacturing. Synopsys' comprehensive, integrated portfolio of implementation, verification, IP, manufacturing and field-programmable gate array (FPGA) solutions helps address the key challenges designers and manufacturers face today, such as power and yield management, software-to-silicon verification and time-to-results. These technology-leading solutions help give Synopsys customers a competitive edge in bringing the best products to market quickly while reducing costs and schedule risk. Synopsys is headquartered in Mountain View, California, and has more than 60 offices located throughout North America, Europe, Japan, Asia and India. Visit Synopsys online at http://www.synopsys.com/.

Synopsys is a registered trademark of Synopsys, Inc. Any other trademarks mentioned in this release are the intellectual property of their respective owners.

Editorial Contacts: Sheryl Gulizia Synopsys, Inc. 650-584-8635 sgulizia@synopsys.com Lisa Gillette-Martin MCA, Inc. 650-968-8900 ext. 115 lgmartin@mcapr.com

Synopsys, Inc.

CONTACT: Sheryl Gulizia of Synopsys, Inc., +1-650-584-8635,
sgulizia@synopsys.com; or Lisa Gillette-Martin of MCA, Inc., +1-650-968-8900,
ext. 115, lgmartin@mcapr.com, for Synopsys, Inc.

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

Johnson Controls Releases Online Business and Sustainability Performance Metrics

MILWAUKEE, April 2 /PRNewswire/ -- Johnson Controls , today announced the release of its latest Global Reporting Initiative (GRI) online sustainability report. The online matrix provides a detailed review of the company's financial, environmental and social performance over the past year.

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The matrix complements the company's 2008 Business and Sustainability Report, which was released in January and is available in 12 languages. The GRI reporting framework provides companies with a uniform and transparent set of metrics to systematically report on sustainability initiatives and results.

The matrix offers a quick, easily accessible database of the company's results in 2008 across a broad range of topics. Highlights include:

-- Financial performance data detailing the company's 62nd consecutive year of increased sales, 18th consecutive year of increased earnings and 33rd consecutive year of increased dividends; -- New figures on the impact of the company's business activities on the environment and society; and -- Details of the company's partnerships with organizations like the Carbon Disclosure Project, the Student Conservation Association and the United Nations Global Compact

"Sustainability is of vital importance, now more than ever. At Johnson Controls, we have been offering our customers more comfortable, safe and sustainable solutions for the past 124 years," said Chuck Harvey, vice president of Diversity and Public Affairs. "As the world's largest energy efficiency provider through the services and equipment we supply to our customers, we are also committed to sustainability in our own organization and live that value every day. We believe the online GRI matrix reflects our current initiatives as well as our long-term commitment to sustainability."

In March, Johnson Controls was ranked 22nd among the 100 Best Corporate Citizens in the United States, by Corporate Responsibility Officer magazine. In the same month, Institutional Investor Magazine cited Johnson Controls as America's Most Shareholder-Friendly Company in the category of consumer - autos and auto parts, for the fourth consecutive year.

The company's commitment to sustainability has earned it industry and community recognition around the world. It is listed on the Dow Jones Sustainability North America Index and World Index, the Domini 400 Social Index, KLD Global Climate 100 Index, the FTSE4Good Index Series, Carbon Disclosure Leadership Index, and Calvert Social Index.

To view the GRI matrix and the 2008 Business and Sustainability Report, please visit http://www.johnsoncontrols.com/sustainability.

About Johnson Controls

Johnson Controls is the global leader that brings ingenuity to the places where people live, work and travel. By integrating technologies, products and services, we create smart environments that redefine the relationships between people and their surroundings. Our team of 140,000 employees creates a more comfortable, safe and sustainable world through our products and services for more than 200 million vehicles, 12 million homes and one million commercial buildings. Our commitment to sustainability drives our environmental stewardship, good corporate citizenship in our workplaces and communities, and the products and services we provide to customers. For additional information, please visit http://www.johnsoncontrols.com/.

Photo: http://www.newscom.com/cgi-bin/prnh/20081030/AQTH055ALOGO
http://photoarchive.ap.org/
photodesk@prnewswire.com Johnson Controls, Inc.

CONTACT: Jacqueline Strayer, +1-414-524-3876,
Jacqueline.F.Strayer@jci.com, or Anna Timms, +1-414-524-2690,
Anna.Timms@jci.com, both of Johnson Controls

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

EDAC Technologies Announces Annual Meeting Date

FARMINGTON, Conn., April 2 /PRNewswire-FirstCall/ -- EDAC Technologies Corporation , a designer and manufacturer of tools, fixtures, jet engine components, injection molds and spindles, has scheduled its annual meeting of shareholders for June 3, 2009, at 9:30 a.m. local time and its record date for voting at the annual meeting as April 20, 2009. The Company anticipates mailing proxy materials to its shareholders on or about April 23, 2009.

About EDAC Technologies Corporation

EDAC Technologies Corporation is a diversified manufacturing company primarily offering (i) design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines (ii) high-precision fixtures, gauges, dies and molds and (iii) the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools found in virtually every manufacturing environment.

For further information, please contact: Glenn L. Purple Vice President-Finance Tel: (860) 677-2603

EDAC Technologies Corporation

CONTACT: Glenn L. Purple, Vice President-Finance of EDAC Technologies
Corporation, +1-860-677-2603

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

TRX Announces the Departure of Scott Gillespie, Vice President of Strategic Initiatives and Founder of Travel AnalyticsGillespie to Pursue Thought Leadership with Integration of Travel Analytics Acquisition Complete

ATLANTA, APRIL 2 /PRNewswire-FirstCall/ -- TRX, Inc. , a global leader in travel technology and data services, today announced that Scott Gillespie, VP of Strategic Initiatives and founder of Travel Analytics (acquired by TRX in 2006) will leave the company in April.

"On behalf of all of us at TRX, I would like to thank Scott for his contribution in building the company's expertise in travel analytics and wish him the best of luck in his futurep plans," said Shane Hammond, President and CEO, TRX. "TRX Travel Analytics sets the gold standard for customer service and analytical innovation. Given our strong working relationship and respect for Scott's insight, we will continue to tap his wealth of industry knowledge on future projects."

The TRX Travel Analytics business will continue to be managed by Dan Pirnat, VP and GM of TRX Travel Analytics. A ten-year veteran of Travel Analytics, Pirnat leads a strong team of consultants focused on delivering high quality and unbiased analytical services to corporate travel programs worldwide. Pirnat has been leading TRX Travel Analytics for the past two years.

"I wish the TRX team all the best, and look forward to working with TRX in the future. I've done all I can here. I am comfortable making this move now because the transition and integration of Travel Analytics into TRX is complete, market momentum for the analytics offering is solid, and the business is led by a strong management team. Under Dan's leadership, the business continues to grow and evolve to meet expanding market needs," said Gillespie. "After working in a corporate environment for two years, it's time for me to return to my entrepreneurial roots and focus on building thought leadership in the areas of travel procurement and data analysis."

In 1999, Gillespie founded Travel Analytics, a firm specializing in helping large companies to analyze their air travel spend. TRX acquired the business in 2006 for its industry-leading analytics and blue-chip corporate clients. While at TRX, Gillespie helped the company secure its first patent, led the design of an award-winning airline carbon emission model, and laid the foundation for an innovative approach to analyzing hotel data.

TRX Travel Analytics offers deep category expertise and unbiased support to corporations that wish to actively manage travel procurement and spend analysis. Using innovative and patented technologies to power its analytical services, the solution helps travel and procurement managers make smart decisions about their suppliers and travel policies, with a focus on achieving practical savings.

About TRX

TRX is a global leader in travel technology and data services. We develop and host software applications that process data records and automate manual processes, enabling our clients to optimize performance and control costs. We deliver our technology applications in an on-demand environment to travel agencies, corporations, travel suppliers, government agencies, credit card associations, credit card issuing banks, and third-party administrators. TRX is headquartered in Atlanta with operations and associates in North America, Europe, and Asia. Please visit the company's Website at http://www.trx.com/.

TRX, Inc.

CONTACT: Stephen L. Carroll, Senior Director, Product Marketing, TRX,
Inc., +1-214-346-4758, stephen.carroll@trx.com

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

RADA Electronic Industries Ltd. Announces Filing of Annual Report

NETANYA, Israel, April 2 /PRNewswire-FirstCall/ -- RADA Electronic Industries Ltd. (NasdaqGS: RADA) today announced it has filed its annual report on Form 20-F containing audited consolidated financial statements for the year ended December 31, 2008 with the U.S. Securities and Exchange Commission. The annual report is available on the Company's website at http://www.rada.com/. Shareholders may receive a hard copy of the annual report free of charge upon request.

About RADA

RADA Electronic Industries Ltd. is an Israel based company involved in the military and commercial aerospace industries. The Company specializes in Avionics systems (Digital Video Recorders, Ground Debriefing Stations, Stores Management Systems, Flight Data Recorders, Inertial Navigation Systems), Trainers Upgrades, Avionics systems for the UAV market, and Electro-optic cameras for airplanes and armored vehicles.

RADA Electronic Industries Ltd.

CONTACT: Shiri Lazarovich, C.F.O., RADA Electronic Industries Ltd.,
+011-972-9-8921122

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

ShengdaTech, Inc. Announces Record Fourth Quarter and Full-Year 2008 Results

Record full-year revenue climbs 48.5% to $149.4 million, year-over-year

TAI'AN CITY, China, April 2 /PRNewswire-Asia-FirstCall/ -- ShengdaTech Inc. ("ShengdaTech" or "The Company") , a leading manufacturer of nano precipitated calcium carbonate ("NPCC"), today reported financial results for the fourth quarter ended December 31, and full-year 2008.

Fourth Quarter 2008 Highlights -- Revenue increased 11.0% year-over-year to $31.8 million, with only one month chemical segment revenue -- Gross margin increased 7.2 percentage points year-over-year to 43.0% -- Net income increased 62.8% year-over-year to $12.7 million, or $0.11 per diluted share -- EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) increased 104.6% year-over-year to $18.5 million -- Ceased production at Bangsheng chemical facility in Tai'an City -- Engaged KPMG as the Company's new independent registered public accounting firm -- Recorded a $9.0 million pretax gain related to the repurchases of $19.8 million face value of the Company's 6.0% convertible senior notes during the fourth quarter Full-Year 2008 Highlights -- Revenue increased 48.5% to $149.4 million, exceeding guidance of $132 million, to $134 million -- NPCC revenue increased 76.4% to $82.4 million, contributing 55.2% to total revenue -- Net income increased 48.1% to $40.0 million, or $0.60 per diluted share, exceeding guidance of $33 million, to $35 million -- EBITDA increased 80.1% to $57.1 million -- Successfully developed new NPCC application for color ink jet paper, polyethylene (PE) plastic products and NPCC for automobile undercoating paints -- Commenced the production and product shipment from the three new stainless steel NPCC lines with an annual capacity of 60,000 metric ton ("MT") NPCC at the Company's Xianyang City factory in Shaanxi Province -- Total production capacity reached 190,000 MT compared to 130,000 MT in 2007

The Company is reporting pro forma financial statements for the fourth quarter and full-year 2008 because such presentation reflects ShengdaTech's historical GAAP results adjusted to remove (1) the impact of $3.9 million in expenses recorded in the fourth quarter associated with the impairment of property, plant and equipment related to the cessation of production at Shandong Bangsheng Chemical Co., Ltd. ("Bangsheng Chemical"), the Company's sole manufacturing facility in Tai'an City, effective October 31, 2008 pursuant to a notice from the local government; as of December 31, 2008, management had plans to continue the Bangsheng Chemical operations through the acquisition of Jinan Fertilizer Co., Ltd. ("Jinan Fertilizer"), therefore concluded that the Company did not satisfy the criteria for discontinued operations reporting; in addition, management had not yet determined its plan for Bangsheng Chemical's equipment, therefore, the equipment is still considered as being held for use, (2) the impact of a $9.0 million pretax gain related to the repurchases of $19.8 million face value of the Company's 6.0% convertible senior notes during the fourth quarter, (3) the impact of $0.7 million charges in compensation to employees as the result of the cessation of production at the Bangsheng Chemical facility. The Company believes these pro forma results provide investors with useful information in analyzing the Company's year-over-year financial performance directly related to operations.

Pro forma highlights for fourth quarter 2008 -- Pro forma operating income for the fourth quarter, excluding $3.9 million in expenses associated with the impairment of property and equipment and $0.7 million in compensation to staff related to the cessation of production at the chemical facility, increased 54.5% year-over-year to $13.0 million and pro forma operating profit margin was 41.0% -- Pro forma net income for the fourth quarter, excluding the gain related to the repurchase of the Company's convertible senior notes, increased 12.3% year-over-year to $8.7 million, or $0.13 per diluted share with pro forma net margin of 27.5% Fourth Quarter 2008 Results

ShengdaTech's revenue for the fourth quarter of 2008 increased to $31.8 million, up 11.0% from $28.6 million in the fourth quarter of 2007. The strong revenue growth was attributable to higher average selling prices and increased demand for NPCC products. The Company added 60,000 metric tons of NPCC capacity in April 2008, which was operating at 100% utilization rate during the quarter to meet the market demand. At quarter end, total annual NPCC production capacity was 190,000 metric tons compared with 130,000 metric tons a year ago. The NPCC segment contributed 76.7% of total revenue in the quarter and the chemical segment contributed the remaining 23.3%, compared with 48.2% and 51.8%, respectively, in the same period a year ago. The chemical segment's contribution to total revenue declined significantly during the fourth quarter as the Company ceased production at Bangsheng Chemical effective October 31, 2008, pursuant to a notice from the local government, resulting in zero revenue produced from the segment in the last two months of the quarter. The Company is currently seeking strategic investment opportunities to continue its chemical operations.

"We are excited to report another year of strong financial performance despite the fact that we ceased production at our Bangsheng Chemical facility mid way through the quarter. We continue to generate ever-increasing interest in NPCC from domestic and international companies. We are working closely with our potential customers to develop and test a wide range of applications using NPCC that will improve their products and reduce their production costs.

"In 2008, we successfully met our capacity expansion plan to reach 190,000 metric tons of annual NPCC production. All NPCC facilities are currently operating at full capacity as we expand and increase our market penetration," commented Mr. Xiangzhi Chen, President and CEO of ShengdaTech. "During 2008, we added 47 domestic and international customers, including 12 tire manufacturers, 4 PVC producers, 14 PE producers, 4 in latex and adhesives, 1 ink manufacturer, 9 coating manufacturers, 1 in automobile undercoating paint, and 2 paper manufacturers."

Revenue from NPCC products increased 76.7% to $24.4 million in the fourth quarter of 2008 from $13.8 million in the fourth quarter of 2007. The increase in year-over-year revenue was due to the growing demand for NPCC products as an increasing number of companies integrated the NPCC technology into their production processes. The additional 60,000 metric tons of NPCC capacity added in April 2008, which, operating at 100% utilization starting in the third quarter, supported the Company in meeting the increased demand as compared to the fourth quarter of 2007. Total volume of NPCC sold during the fourth quarter of 2008 was 49,143 metric tons, up 15,438 metric tons, or 37.7%, from 35,680 metric tons in the fourth quarter of 2007. NPCC for use in tires and PVC represented the majority of NPCC sales at 43.1% and 30.0% of total NPCC revenue, respectively. NPCC used in ink increased to 11.0% of total NPCC revenue, an increase of 8.0% compared with the fourth quarter 2007. Sales from the NPCC product for use in paper, increased to 8.8% of total NPCC revenue during the fourth quarter. NPCC used in PE, adhesives, latex, and paint, combined to generate 8.4% of NPCC revenue.

Revenue from the chemical segment for the fourth quarter of 2008 was $7.4 million, a decrease of 50.1% from $14.8 million in the fourth quarter of 2007. Bangsheng Chemical was in operation for only 30 days during the fourth quarter of 2008 before the Company ceased production. Sales of liquid ammonia and ammonia bicarbonate represented the majority of sales in the chemical segment with 41.4% and 25.9% for the fourth quarter 2008, respectively. Methanol and melamine represented 18.2% and 14.4% respectively of the chemical segment's revenue during the quarter.

The Company's gross profit for the fourth quarter of 2008 was $13.7 million, up 33.3% from $10.3 million in the fourth quarter 2007. Gross margin for the quarter was 43.0% compared with 35.8% for the same period in 2007. The chemical segment benefited from strong pricing for liquid ammonia, methanol, and melamine in the quarter resulting in gross margin of 49.5%, up 20 percentage points from 29.5% in the same period in 2007. The significant increase in gross margin of the chemical segment during the quarter was primarily due to increased prices of chemical products in the month of October. Later in the quarter, the coal-based chemical industry experienced significantly lower margins due to pressure on selling prices of coal-based chemical products and the increased cost of raw materials. Gross margin for the NPCC segment was 41.1% in the fourth quarter compared to gross margin of 42.6% in the same quarter last year. The average selling price of the Company's NPCC products increased to $480 per MT, an increase of 13.5% from $423 per MT in the fourth quarter of 2007, which partially offset the increase in cost of coal used in the manufacturing process and an increase in transportation costs related to raw material procurement.

Selling expenses for the fourth quarter of 2008 were $0.6 million, or 1.9% of revenue, up from $0.5 million, or 1.7% of revenue, in the same period last year due to higher sales commissions and related expenses in proportion with increased sales volume. Selling expenses also increased as a result of increases in freight and other costs in relation to the growth in NPCC exports during the fourth quarter of 2008. General and administrative (G&A) expenses were $0.7 million, or 2.2% of revenue, down from $1.3 million, or 4.6% of revenue for the same period last year. The decrease in G&A expenses was mainly attributable to reduced office, business, and entertainment fees, as well as the cessation of production at Bangsheng Chemical. This was partially offset by increases in R&D expenses, a higher service fee paid to the newly engaged leading global independent auditing firm, and a one-time compensation expense of $0.7 million paid to employees who worked at Bangsheng Chemical prior to the cessation of production. During the quarter, the Company reported a $3.9 million impairment of property and equipment expense in order to depreciate the fixed assets related to the chemical business to their estimated net realizable value at December 31, 2008.

Operating income for the fourth quarter of 2008 was $8.4 million, unchanged from the same period a year ago. Operating margin was 26.5% compared to 29.5% in the fourth quarter of 2007.

Fourth quarter interest expense of $2.5 million was directly associated with the Company's long-term convertible notes issued in June 2008. No such expense was recorded in the fourth quarter of 2007. During the quarter, the Company reported a pretax gain of $9.0 million in other income as a result of repurchasing $19.8 million in face value of the Company's 6.0% convertible senior notes during the fourth quarter of 2008. No such gain was recorded during the fourth quarter of 2007.

Provision for income tax in the fourth quarter of 2008 was $2.3 million up from $0.7 million in the fourth quarter of 2007 due primarily to an increase in taxable income and US tax on the gain from the repurchase of long-term convertible notes.

EBITDA for the fourth quarter of 2008 increased 104.6% year-over-year to $18.5 million from $9.1 million in the fourth quarter of 2007.

Net income in the fourth quarter of 2008 was $12.7 million, up 62.8% from $7.8 million in the same period last year. Fully diluted earnings per share for the fourth quarter of 2008 were $0.11, compared with fully diluted earnings per share of $0.15 in the fourth quarter of 2007. Fully diluted weighted average shares outstanding were 69,343,542 in the fourth quarter of 2008, up from 54,193,667 in the same quarter last year, due to the Company's 6.0% convertible senior notes issued in May and June 2008.

Full-Year 2008 Results -- Pro forma income from operations for the full-year 2008 was $48.9 million, up 65.3% from reported income from operations for full-year 2007 -- Pro forma net income for full-year 2008 was $36.4 million, up 34.8% from reported net income for full-year 2007. Fully diluted pro forma earnings per share were $0.64 per compared to $0.50 in 2007.

Revenue for the full-year 2008 increased 48.5% to a record $149.4 million compared with $100.7 million in 2007. Revenue from the chemical business was $67.0 million, up 24.2% from $53.9 million in 2007, representing 44.8% of total revenue. The NPCC business generated the remaining 55.2% of revenue at $82.4 million in 2008, up 76.4% from $46.7 million in 2007. Gross profit was $55.1 million, up 59.5% from $34.6 million for the full-year 2007. Gross margin was 36.9% in 2008 compared to 34.3% in 2007. Income from operations was $44.2 million in 2008, up 49.7% from $29.6 million in 2007. EBITDA was $57.1 million in 2008, up 80.1% from $31.7 million in 2007. Net income increased 48.1% to $40.0 million from $27.0 million in 2007. Fully diluted earnings per share for 2008 were $0.60 compared to $0.50 for the full-year 2007.

Pro forma gross profit for the full-year 2008 was $55.1 million, increased 59.5% from reported gross profit a year ago. Pro forma gross margin was 36.9% for the full-year of 2008 compared with reported gross margin of 34.3% for the full-year 2007. Pro forma income from operations for the full-year 2008 was $48.9 million, up 65.3% from reported income from operations for full-year 2007. Pro forma net income for full-year 2008 was $36.4 million, up 34.8% from reported net income for full-year 2007. Fully diluted pro forma earnings per share were $0.64 per diluted share for the full-year of 2008 compared to reported fully diluted earnings per share of $0.50 in 2007.

Financial Condition

As of December 31, 2008, ShengdaTech had $114.3 million in cash, $112.7 million in working capital and $95.3 million in long-term convertible senior notes. Shareholders' equity stood at $135.8 million, up from $89.0 million at year-end 2007. In 2008, the Company generated net cash flow from operating activities of $38.9 million.

In November 2008, the Company repurchased an aggregate of $19.8 million face value of its 6.0% Convertible Senior Notes due 2018, for consideration of approximately $9.9 million, plus accrued interest in cash. These repurchases reduced the dilution of ShengdaTech's common stock outstanding by nearly 2.0 million shares.

Recent Events

On March 13, 2009, ShengdaTech announced that the Company has repurchased, in a series of privately negotiated transactions executed between February 17 and February 26, 2009, an aggregate of $5.2 million face value of its 6.0% Convertible Senior Notes due 2018, for consideration of approximately $2.5 million, plus accrued interest in cash.

On March 17, 2009, ShengdaTech announced that the Company's Board of Directors decided that the Company will no longer pursue the acquisition of Jinan Fertilizer Co., Ltd. The agreement to acquire Jinan Fertilizer entered into with Shandong Shengda expired on March 31, 2009. The Company did not incur any liability or costs, except for reasonable costs for due-diligence undertaken by our independent directors as a group, as a result of not consummating the acquisition of Jinan Fertilizer. The Company is currently seeking strategic investment opportunities to continue its chemical operations and aggressively grow its NPCC business.

In February 2009, the Company announced that it will relocate its world headquarters from Tai'an City to Shanghai in April 2009. As one of China's major commerce centers, Shanghai will provide ShengdaTech with easier access to business partners, customers and prospects and allow the Company to attract a higher caliber of management and administrative professionals.

Business Outlook

ShengdaTech expects to complete construction of Phase I (60,000 MT) of the Company's new NPCC facility in Zibo, Shandong Province by July or August 2009. The Company expects to receive mining rights for limestone, an essential NPCC ingredient, from the government by the end of the second quarter of 2009.

In 2009, the Company expects to achieve 100% utilization of its 190,000 MT capacity, and anticipates that, by year-end, they will achieve approximately 80% run-rate utilization of the additional 60,000 MT in the Zibo facility. The Company will actively pursue strategic acquisition targets to grow its NPCC production capacity. The Company plans to focus on the growth of the NPCC business by expanding market penetration, by increasing the customer base with additional sales and marketing resources, and by offering an ever-broadening and diversified product line through its advanced research and development capabilities. The new-product pipeline for NPCC applications includes asphalt, epoxy resin, and other high-end NPCC applications. The Company is applying for patents for NPCC proprietary formulas used in applications for asphalt, paint, and for modifier, a cost-reducing element used in the production process. The applications also will include exclusive NPCC production technology that warrants patent protection.

The Company expects 2009 revenue and net income from NPCC to be in the range of $92 million to $94 million and $18 million to $19 million, respectively, for fully diluted earnings per share of $0.32 - $0.34.

"The strong commitment of our management, research and sales teams has helped us to execute effectively our NPCC growth strategy in 2008. Going forward, our strategic focus on NPCC is substantiated by a Company commissioned study conducted by Frost & Sullivan, a worldwide company that specializes in market research. According to the report, the global NPCC market presents a huge growth opportunity. The report states that the Chinese market is projected to continue in a high-growth mode with an estimated compounded annual growth rate of over 20 percent through 2012," commented Mr. Chen. "We believe our market standing as a recognized high-quality NPCC supplier, our advanced technological production capabilities, strong and proven research and development capabilities, and exclusive formulations, together with our compelling value proposition to our customers, provide us with a definitive competitive advantage. We are convinced that the strength of this combination will allow us to meet our market expansion objectives, domestically and internationally. We are abundantly confident that our vision is sound, our strategy is well thought out, and that we have the right people in place to successfully execute our short and long-term plans. By so doing, we will deliver to our shareholders the growth and profitability that will result in continually increasing the value of our Company."

Conference Call

ShengdaTech will host a conference call at 9:00 a.m. EDT on Friday, April 3, 2009, to discuss the 2008 fourth quarter and year-end financial results. To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 1-888-419-5570. International callers should dial +1-617-896-9871. The pass code for the call is 71736647. If you are unable to participate in the call at this time, a replay will be available for 14 days starting on Friday, April 3, 2009 at 11:00 a.m. EDT. To access the replay, dial 1-888-286-8010. International callers should dial +1-617-801-6888. The conference pass code is 12258082. This conference call will be broadcast live over the Internet and can be accessed by all interested parties by clicking on http://www.shengdatechinc.com/ . Please access the link at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a 90-day replay will be available shortly after the call by accessing the same link.

About ShengdaTech, Inc.

ShengdaTech is engaged in the business of manufacturing, marketing and selling nano-precipitated calcium carbonate ("NPCC") products The Company converts limestone into NPCC using its proprietary technology co-developed with Tsinghua University. ShengdaTech is the only company possessing proprietary NPCC technology in China. Its NPCC products are mainly exported to Singapore, Thailand, South Korea, Malaysia, Vietnam, the Philippines, Iran, India and Israel. For more information, contact CCG Investor Relations directly or go to ShengdaTech's website at http://www.shengdatechinc.com/ .

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:

Certain statements in this press release and oral statements made by ShengdaTech on its conference call in relation to this release constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the Company's ability to prepare for growth, the Company's planned manufacturing capacity expansion, acquisition of Jinan Fertilizer, outlook for its coal based chemical operations and predictions and guidance relating to the Company's future financial performance. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as unanticipated changes in product demand especially in the tire industry, changes in composition of tires, the Company's ability to identify strategic investment opportunities to continue its chemical operations, the Company's ability to meet the planned expansion schedule for its NPCC capacity, changes to government regulations, risk associated with operation of the Company's new manufacturing facility, risk associated with large scale implementation of the new NPCC manufacturing process, the ability to attract new customers, ability to increase its product's applications, ability of its customers to sell products, cost of raw material, downturns in the Chinese economy, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

Table 1 SHENGDATECH, INC. AND SUBSIDIARIES SELECTED BALANCE SHEET Balance sheet items: December 31, 2008 December 31, 2007 Cash $114,287,073 $26,366,568 Total assets $243,908,940 $100,943,938 Long-term convertible notes $95,250,000 -- Total liabilities $108,068,363 $11,940,753 Total shareholders' equity $135,840,577 $89,003,185 Table 2 SHENGDATECH, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME For the three months For the fiscal-year ended ended December 31, December 31 2008 2007 2008 2007 (unaudited) (unaudited) (audited) (audited) Net sales 31,775,575 28,623,203 149,427,139 100,654,793 Cost of goods sold 18,101,041 18,363,696 94,302,741 66,094,838 Gross profit 13,674,534 10,259,507 55,124,398 34,559,955 Operating expenses: Selling 605,583 495,032 2,549,721 1,771,168 General and administrative 713,843 1,328,920 4,394,896 3,232,911 Impairment of property, plant and equipment 3,931,253 0 3,931,253 0 Total operating expenses 5,250,679 1,823,952 10,875,870 5,004,079 Operating income 8,423,855 8,435,555 44,248,528 29,555,876 Other income (expense): Interest income 85,323 71,318 235,219 274,203 Interest expense (2,475,427) 0 (4,766,681) 0 Gain on extinguishment of long-term convertible notes 9,018,169 -- 9,018,169 -- Other expense, net (52,833) (12,094) (52,833) (12,094) Other income, net 6,575,232 59,224 4,433,874 262,109 Earnings before income taxes 14,999,087 8,494,779 48,682,402 29,817,985 Provision for tax 2,335,844 715,209 8,646,951 2,787,640 Net Income 12,663,243 7,779,570 40,035,451 27,030,345 Earnings per share: Basic 0.23 0.15 0.74 0.50 Diluted 0.11 0.15 0.60 0.50 Weighted average shares outstanding: Basic 54,202,036 54,143,920 54,202,036 54,107,408 Diluted 67,247,616 54,193,667 62,205,660 54,188,410 Table 3 SHENGDATECH, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2008 2007 2006 Cash flows from operating activities: Net income 40,035,451 27,030,345 17,526,648 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 3,734,433 2,127,990 1,031,387 Land use rights expense 107,121 990 -- Amortization of debt issuance costs 1,092,675 -- -- Impairment of property, plant and equipment 3,931,253 -- -- Gain on extinguishment of long-term convertible notes (9,018,169) -- -- Loss on disposal of property, plant and equipment -- 1,845 16,377 Share-based compensation expense 58,945 -- 153,619 Changes in operating assets and liabilities: Accounts receivable 1,587,245 (1,839,452) (1,635,713) Other receivables (496,157) 144,500 4,040,220 Deferred tax assets (260,056) -- -- Inventories (552,135) 330,614 (611,842) Due from related parties 1,798 -- 952,552 Accounts payable (1,821,581) 1,033,008 614,532 Accrued expenses and other payables (914,920) 696,887 262,936 Income taxes payable 1,578,462 728,255 -- Due to related parties (199,795) (11,863) 736,564 Net cash provided by operating activities 38,864,570 30,243,119 23,087,280 Cash flows from investing activities: Purchase of property, plant and equipment, including interest capitalized (36,654,578) (38,199,879) (14,903,456) Purchase of land use rights (15,328,370) (120,083) -- Distribution to shareholders -- (207,651) (971,496) Net cash used in investing activities (51,982,948) (38,527,613) (15,874,952) Cash flows from financing activities: Proceeds from issuance of long-term convertible notes 115,000,000 -- -- Payment of debt issuance costs (5,859,663) -- -- Extinguishment of long-term convertible notes (9,890,000) -- -- Due to related parties -- (1,995,105) 1,903,947 Proceeds from issuance of common stock -- -- 13,969,714 Excess tax benefit from exercise of warrant 221,903 -- -- Net cash provided by (used in) financing activities 99,472,240 (1,995,105) 15,873,661 Effect of exchange rate changes on cash 1,566,643 1,962,025 848,853 Net increase (decrease) in cash 87,920,505 (8,317,574) 23,934,842 Cash at beginning of year 26,366,568 34,684,142 10,749,300 Cash at end of year 114,287,073 26,366,568 34,684,142 Non-cash investing activities: Accounts payable for purchase of property, plant and equipment 740,951 1,218,497 854,068 Due to related parties for purchase of property, plant and equipment 741,263 (354,316) 289,111 Supplemental disclosures of cash flow information: Cash paid for income taxes 7,109,351 2,088,364 415,334 Cash paid for interest, net of capitalized interest 3,197,756 -- -- Table 4 SHENGDATECH, INC. AND SUBSIDIARIES Reconciliation of Net Income to EBITDA (Amounts expressed in United States dollars) Three Months Ended Fiscal Year Ended December 31, December 31, 2008 2007 2008 2007 Net Income 12,663,243 7,779,570 40,035,451 27,030,345 Income Tax 2,335,844 715,209 8,646,951 2,787,640 Interest expense, net 2,403,646 -71,318 4,531,462 -274,203 Depreciation and amortization 1,120,763 631,134 3,841,554 2,128,980 EBITDA 18,523,496 9,054,595 57,055,418 31,672,762 Note 1 EBITDA is a financial measure that is not defined by US GAAP. EBITDA was derived by calculating earnings before interest, taxes, depreciation, and amortization. The Company's management believes that the presentation of EBITDA provides useful information regarding ShengdaTech's results of operations because it assists in analyzing and benchmarking the performance and value of ShengdaTech's business. The Company's calculation of EBITDA may not be consistent with similarly titled measures of other companies. The table above provides a reconciliation of EBITDA to net income, the most comparable GAAP measure. Table 5 RECONCILIATION OF PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME For the Three Months Ended December 31, 2008 As Reported Adjustments Pro Forma Sale of Products 31,775,575 $31,775,575 Cost of Products Sold 18,101,041 18,101,041 Gross Profit 13,674,534 13,674,534 Gross Profit Margin 43.03% 43.03% Operating Expenses: -- Selling expense 605,583 605,583 General and administrative expense 713,843 675,690(3) 38,153 Impairment of fixed assets 3,931,253 3,931,253(1) 0 Total Operating Expenses 5,250,679 643,736 Operating income 8,423,855 4,606,943 13,030,798 Operating Margin 26.51% 41.01% Other Income (Expense): Interest expense (2,475,427) (2,475,427) Interest income 85,323 85,323 Gain on extinguishment of long-term convertible notes 9,018,169 (9,018,169)(2) 0 Other expense, net (52,833) (52,833) Other income (expenses), net 6,575,232 (2,403,646) Earnings before income taxes 14,999,087 10,627,152 Income tax expense 2,335,844 (444,211) 1,891,633(4) Net income 12,663,243 (3,967,015) $8,735,519 Net margin 39.85% 27.49% Earnings per share: Basic $0.23 $0.16 Diluted $0.11 $0.13(5) Weighted average shares outstanding: Basic 54,202,036 54,202,036 Diluted 67,246,616 67,246,616 Fiscal Year Ended December 31, 2008 As Reported Adjustments Pro Forma Sale of Products $149,427,139 $149,427,139 Cost of Products Sold 94,302,741 94,302,741 Gross Profit 55,124,398 55,124,398 Gross Profit Margin 36.89% 36.89% Operating Expenses: Selling expense 2,549,721 2,549,721 General and administrative expense 4,394,896 675,690(3) 3,719,206 Impairment of fixed assets 3,931,253 3,931,253(1) 0 Total Operating Expenses 10,875,870 6,268,927 Operating income 44,248,528 4,606,943 48,855,471 Operating Margin 29.61% 32.70% Other Income (Expense): Interest expense (4,766,681) (4,766,681) Interest income 235,219 235,219 Gain on extinguishment of long-term convertible notes 9,018,169 (9,018,169)(2) 0 Other expense, net (52,833) (52,833) Other income (expenses), net 4,433,874 (4,531,462) Earnings before income taxes $48,682,402 44,324,009 Income tax expense 8,646,951 (757,277) 7,889,674(4) Net income 40,035,451 (3,653,949) 36,434,335 Net margin 26.79% 24.38% Earnings per share: Basic $0.74 $0.67 Diluted $0.60 $0.64(5) Weighted average shares outstanding: Basic 54,202,036 54,202,036 Diluted 62,205,660 62,205,660

Note: The unaudited pro forma income statement results for the three months and fiscal year ended December 31, 2008, presented above reflect ShengdaTech's historical GAAP results adjusted to remove:

(1) the impact of $3.9 million in expenses associated with the impairment of property and equipment related to the cessation of production at the Company's Tai'an City chemical facility in the fourth quarter; (2) the impact of a $9.0 million gain related to the repurchases of $19.8 million face value of the Company's 6.0% convertible senior notes during the fourth quarter; (3) the impact of charges of $0.7 million in compensation for staff as the result of the cessation of production at the Company's Bangsheng Chemical Facility; (4) Pro forma calculations assume an effective tax rate of 17.8%; (5) Pro forma diluted earnings per share are calculated by dividing pro forma net income by diluted weighted average shares outstanding.

The Company believes these pro forma results provide investors with useful information in analyzing the Company's year over year financial performance.

For further information, please contact: CCG Investor Relations Crocker Coulson, President Tel: +1-646-213-1915 Email: crocker.coulson@ccgir.com Web: http://www.ccgirasia.com/

ShengdaTech, Inc.

CONTACT: CCG Investor Relations, Crocker Coulson, President, +1-646-213-
1915 or crocker.coulson@ccgir.com, for ShengdaTech, Inc.

Web site: http://www.shengdatechinc.com/
http://www.ccgirasia.com/

Call for Entries - Carrier Ethernet Expo Europe AwardsService provider, vendor, and individual awards to be presented at Ethernet Expo Europe 2009

LONDON, April 2 /PRNewswire-FirstCall/ -- Details were announced today of Light Reading's prestigious Carrier Ethernet annual awards to be judged by a panel of Carrier Ethernet industry experts and presented at Ethernet Expo: Europe 2009, May 13-14 at ExCel Conference Centre in London. Entries are invited for this outstanding opportunity to be recognized as a leader in the development and promotion of Carrier Ethernet across Europe. In addition to awarding the greatest individual contribution, the awards will honor service providers - both for overall portfolio and for individual service excellence - and vendors contributing the best access product and the best infrastructure product.

-- Ethernet Service Provider of the Year, Europe - Best Ethernet Service

For the service provider that has launched the most promising new retail or wholesale Ethernet service in Europe since last year's European Ethernet Expo.

-- Ethernet Service Provider of the Year - Best Product Portfolio

For the service provider offering the strongest Ethernet services connectivity and applications portfolio.

-- Carrier Ethernet Vendor of the Year, Europe - Best Access Product

For the network equipment supplier that has begun shipping the best new Carrier Ethernet access platform (CEAP) in Europe since last year's European Ethernet Expo. CEAP solutions include Ethernet-over-TDM access circuit, Ethernet-over-bonded copper pair, Ethernet-over-fiber demarcation/access switching, and wireless platforms. Note that platforms should be MEF 9, MEF 14, and/or MEF 18 certified to qualify for consideration, and that this award is restricted to vendors included among the sponsors of Ethernet Expo Europe.

-- Carrier Ethernet Vendor of the Year, Europe - Best Infrastructure Product

For the network equipment supplier that has begun shipping the best new Carrier Ethernet infrastructure platform in Europe since last year's European Ethernet Expo. Carrier Ethernet infrastructure solutions include Carrier Ethernet Switch/Routers (CESR), Ethernet Service Edge (ESE) Routers, and Packet Optical Transport Platforms (POTS). Note that platforms should be MEF 9, MEF 14, and/or MEF 18 certified to qualify for consideration, and that this award is restricted to vendors included among the sponsors of Ethernet Expo Europe.

-- Carrier Ethernet Person of the Year, Europe

For the industry professional who has made the greatest contribution to advance the adoption of Carrier Ethernet services and/or technologies in Europe since last year's European Ethernet Expo. Qualifying candidates must be nominated by an industry peer and may work for a service provider, equipment or component supplier, and/or an industry organization.

The Ethernet Expo Europe Awards entry form can be found here: http://www.lightreading.com/europeawards

Additional information on Ethernet Expo Europe can be found here: http://www.ethernetexpoeurope.com/. Registration for press and analysts is free.

Contact: Amy Averbook Director of Corporate Marketing Light Reading averbook@lightreading.com 212-925-0020 x112 About Light Reading

Founded in 2000, Light Reading (http://www.lightreading.com/) is the leading online media, research, and focused event company serving the $3 trillion worldwide communications market. Lightreading.com is the ultimate source for technology and financial analysis of the communications industry, leading the media sector in terms of traffic, content, and reputation. Light Reading's research arms, Heavy Reading and Pyramid Research, provide the most comprehensive communications research, market data, and technology analysis in close to 100 markets around the world. Light Reading produces nearly 20 targeted communications events including TelcoTV, Ethernet Expo New York and Ethernet Expo London, The Tower Summit @ CTIA, and Optical Expo, as well as focused one-day events tailored for cable, mobile, and wireline executives. Light Reading was acquired by United Business Media in August 2005 and operates as a unit of TechWeb.

About TechWeb

*13.3 million business decision-makers: based on number of monthly connections

About United Business Media Limited

Ethernet Expo Europe

CONTACT: Amy Averbook, Director of Corporate Marketing, Light Reading,
+1-212-925-0020 x112, averbook@lightreading.com

Web Site: http://www.lightreading.com/europeawards
http://www.ethernetexpoeurope.com/

"Intelligent Standby Energy Saver" can Reduce Global Domestic Energy Consumption by 10% and Save the Equivalent of one Third of the USA's CO2 Output Annually

CHICAGO, April 2 /PRNewswire-FirstCall/ -- - Winning Design Takes Top Prize at Premier Farnell's Global Live EDGE - Electronic Design for the Global Environment-Awards Ceremony

- A $10,000 USD Premier Farnell Scholarship Announced to Benefit Engineering Students

Premier Farnell plc , the leading multi-channel, high service distributor and its companies (Farnell, Newark, Premier Electronics, Farnell-Newark CPC, and MCM), announces Pedro Rodrigues from Portugal as the Live EDGE 2008- Electronic Design for the Global Environment - Challenge winner. Mr Rodrigues is awarded a unique prize package including a $25,000 USD cash prize and support services valued at an additional $25,000 USD from experts in the fields of design consultancy, marketing, legal and commerce to drive the design towards production. Mr Rodrigues' winning design is an Intelligent Standby Energy Saver - a system that automatically detects the standby mode of electrical equipment and disconnects the power when it is not required.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090402/343123-a ) (Photo: http://www.newscom.com/cgi-bin/prnh/20090402/343123-b )

"This unique power controller design analyses power consumption using an artificial intelligence algorithm implemented on a high-end micro-controller," said Pedro Rodrigues, Live EDGE 2008 winner. "This enables the Intelligent Standby Energy Saver to distinguish between the "standby" and "non-standby" modes even when faced with complex consumption patterns and, thus disconnect the load. The device has sensors that detect changes in the environment and intelligently restore power, when required."

Power savings are achieved by the intelligent control of power to such consumer items as televisions and entertainment systems, whereby the accumulated "standby" power is effectively reduced.

"The Intelligent Standby Energy Saver design takes a radically different and technically superior approach to determining power usages," said Sir Peter Gershon, Chairman of Premier Farnell and Live EDGE judge. "The idea of using a neural network algorithm to accomplish Mr. Rodrigues' energy saving design is original and clearly more efficient than conventional energy savings methods."

The first highly commended $5,000 USD winner of the Live EDGE challenge is John Tillson from England. His entry, a PowerShift Power Controller is designed to switch off critical loads during supply/demand imbalances, easing the burden on national power grids at times of peak demand. The system works by detecting the peak times of electrical power usage, then switching off any suitable electrical appliances to lessen the total load presented to the power grid.

The second highly commended $5,000 USD winner is Antonio Lalguna from Spain for his design of an automatic irrigation system to improve Photovoltaic systems. This device is aimed at improving the efficiency of solar panels by 30%, using a rainwater harvesting system to automatically clean and cool off the panels.

"Our congratulations go out to Pedro, John and Antonio. We truly look forward to helping Pedro register his design and supporting him to take the unit from prototype to production in the coming year," said Harriet Green, CEO of Premier Farnell. "We feel the Live EDGE challenge provides a great opportunity for electronic design engineers to bring their environmentally friendly designs to the market. We are proud to encourage the design of products that could positively impact the lives of at least 3 billion people worldwide. We will continue to work towards providing the very best service, technology and support to our critically important design engineering customers, like Pedro Rodrigues."

Editors Note:

The 2007 Live EDGE winner, Mr. John Noble has already taken his design through to completion and anticipates having the product ready for distribution later this year. For more information on his energy saving product visit: http://www.haikufan.com/.

Estimates vary for the amount of electricity used in standby mode but a consensus is that around 5-10%[1] of domestic power is wasted in standby power; A UK Government study suggested 8%[2]. Research published by Reed Elsevier[3] states that China needs six power stations running constantly to provide standby power. In 2004 the global annual CO2 emissions were 27,245, 758 thousands of metric tons a 10% saving would equate to one third of the CO2 output of the USA at 6,049,435.

Image 1

High resolution images of the 2008 Live EDGE winner and trophies can be found at: http://www.pinnaclemarcoms.com/PR_PICTURES/Premier_Farnell/LiveEdge_Awards .jpg

Image 2

High resolution images of the 2008 Live EDGE winner and trophies can be found at: http://www.pinnaclemarcoms.com/PR_PICTURES/Premier_Farnell/LiveEdge_Winner_Ck .jpg

Image 3

High resolution images of the 2008 Live EDGE winner and trophies can be found at: http://www.pinnaclemarcoms.com/PR_PICTURES/Premier_Farnell/LiveEdge_Winner_Tr .jpg

(Due to the length of the URLs, it may be necessary to copy and paste the hyperlinks into your Internet browser's URL address field. Remove the space if one exists.)

About Premier Farnell

Premier Farnell plc is a leading high service, multi-channel distributor of electronic, and industrial products and specialist services throughout Europe, the Americas and Asia Pacific. It goes to market with a differentiated value proposition, world-class marketing, a stocked range of 450,000+ products, and access to 4,000,000 more items from 3,500 top manufacturers. The company has group sales of GBP823.1m and over 4,100 employees globally.

While global in scope, Premier Farnell recognizes the individual needs of each market and has continued to internationalize its model accordingly, trading locally under different brand names. Its primary electronics businesses trade as Farnell in the UK, India, Europe, Australia and New Zealand, Newark in the US, Canada and Mexico, and Premier Electronics in China. In Singapore, Malaysia, Hong Kong and Brazil the operation is known as Farnell Newark.

Premier Farnell has participated in the Business in the Community CR Index for three years and has been one of the 'biggest improvers' in the index in the last two years. The company is also a member of the FTSE4Good Index of Corporate and Social Responsibility and has published its own Corporate Social Responsibility report since 2002.

For more information visit the website at http://www.premierfarnell.com/ Please consider the environment before printing this press release. --------------------------------- [1] A trickle turns into a flood: standby power loss in China: Jiang Lin, Lawrence Berkley National Laboratory [2] TV standby buttons will be outlawed, http://www.timesonline.co.uk/tol/news/uk/article686287.ece; Lewis Smith and Mark Henderson [3] Standby power use in Chinese homes, Alan Meier, Jiang Lin, Jiang Liu and Tienan Li. Web: http://www.premierfarnell.com/ Web: http://www.pinnaclemarcom.com/

Photo: http://www.newscom.com/cgi-bin/prnh/20090402/343123-a
http://www.newscom.com/cgi-bin/prnh/20090402/343123-b Premier Farnell plc

CONTACT: Contact Details: Jenny Peters, Head of Corporate
Communication, Premier Farnell plc, and Asia, Tel: +44(0)207-851-4102, Email:
jpeters@premierfarnell.com . Web: http://www.premierfarnell.com/ Jonathan
Roberts, Account Director, Pinnacle Marketing Communications Ltd, Tel:
+44(0)208-869-9339, Email: jonathan@pinnaclemarcom.com . Web:
http://www.pinnaclemarcom.com/ Janice Fleisher, PR & Communications Manager,
Newark, The Americas, Tel: +1-773-907-5941, Email: jfleisher@newark.com .
Claire Haikings, Farnell, Europe, Tel: +44(0)133-2790101 ext 3433, Email:
chaikings@farnell.com.

Beacon Equity Issues Trade Alerts on Newsworthy Market Movers: DSX, MON, CROX, WAG, PFE, KMX

DALLAS, April 2 /PRNewswire/ -- BeaconEquity.com announces the availability of Trade Alerts on stocks making news today.

Investors can view all of the daily trade alerts for free by visiting BeaconEquity.com/m.

Today's Trade Alerts include: Diana Shipping Inc. , Monsanto Co. , CROCS Inc. , Walgreen Co. , Pfizer Inc. and CarMax Inc. .

Join the fastest growing investment community at: http://www.stockhideout.com/ See what Cramer has to say about these stocks and many more.

BeaconEquity.com's Trade Alerts are brief analyses on the active stocks each day that are affecting the markets. These include breaking news, insider activity, recent 52-week highs/lows, technical breakouts, and other market driving information. Beacon is the authority on research in the small-cap sector, and our analysts strive each day to find the stocks that are poised to be the biggest movers before the rest of the market is aware of them.

We encourage investors to subscribe to our FREE newsletter filled with daily trading ideas at BeaconEquity.com/m.

BeaconEquity.com is one of the industry's largest small-cap research providers. Beacon strives to provide a balanced view of many promising small-cap companies that would otherwise fall under the radar of the typical Wall Street investor. We provide investors with an excellent first step in their research and due diligence by providing daily trading ideas, and consolidating the publicly available information available on them. For more information on Beacon Research, please visit:

http://www.beaconequity.com/m CRD# 2207572 BeaconEquity.com Disclosure

BeaconEquity.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. BeaconEquity.com is a Web site wholly-owned by BlueWave Advisors, LLC. Please read our report and visit our Web site, BeaconEquity.com, for complete risks and disclosures.

Beacon Equity Research Jeff Bishop, (469)-252-3505 press@beaconequity.com

Available Topic Expert(s): For information on the listed expert(s), click appropriate link.

JEFF BISHOP https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=70781

David C. Masson of Beacon Equity Research is a member of the National Association of Securities Dealers, CRD number 2207572.

BeaconEquity.com

CONTACT: Jeff Bishop of Beacon Equity Research, +1-469-252-3505,
press@beaconequity.com

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

Telit Wireless Solutions Launches Fourth Edition of telit2market Magazine Featuring the Latest Trends on the Global M2M Markettelit2market Offers Views and Predictions of Future Developments and Highlights Telit's Innovative M2M Technology

RALEIGH, N.C., April 2 /PRNewswire/ -- Telit Wireless Solutions, a global leader in machine-to-machine (M2M) communications and subsidiary of Telit Communications PLC (AIM: TCM), published the fourth edition of its M2M magazine telit2market. The new magazine provides information on the latest trends and developments in the global M2M market. The publication also presents a broad spectrum of the latest applications, products and services from Telit. Readers will learn how Telit successfully maintains its position as the innovation leader in today's difficult economic climate. Through various articles, a number of different technology applications are presented alongside introductions to Telit's customers and partners.

As well as information about the company, the telit2market magazine offers various market analyses such as an estimate by Robin Duke-Woolley, CEO of Beecham Research Limited, a research and consulting firm that predicts that M2M will penetrate all areas of daily life in the near future. Rudi Leitner, founder of Metering International, reports on the importance of AMI (Advanced Metering Infrastructure) for the energy management industry. The magazine also offers Telit customers, partners and distributors an ideal platform for showcasing their products and solutions to a wide audience. As a result, telit2market is facilitating global exchange on the various possible uses for Telit's innovative M2M technology.

"We are delighted to be presenting another new edition of our magazine to readers on the M2M market," said Alexander Bufalino, Global VP Marketing Telit Communications PLC. "telit2market is unique in the industry and has become an indispensable source for the entire M2M community."

Unique product portfolio

Through a series of articles, Telit demonstrates how the company has succeeded in continuously expanding its market position in recent years. In the current edition, Telit unveils the latest extension to the GE product family: the smallest GSM/GPRS module available, the GE865. The magazine also focuses on Telit Infinita Services which include both Premium FOTA (Firmware Over the Air) Management with extended software warranties, as well as an extended hardware warranty service to supplement the company's existing portfolio of services. The magazine's other highlights include a range of practical examples for the high-performance Telit modules, such as applications from the fields of automatic meter reading (AMR), fleet management, telematics, security and tracking-and-tracing.

Print and online version

telit2market is published worldwide with a print run of 58,000 copies. To distribute the publication, Telit relies on respected media partners, such as trade magazines "Wireless" and "Electronic Product News". The magazine can be ordered on Telit's website. telit2market is now also available for the first time as a user-friendly e-book and can be viewed online at http://www.telit.com/.

Telit Wireless Solutions

CONTACT: Alexander Bufalino, VP Global Marketing of Telit Communications
PLC, +49-160-96-00-46-13, +39-335-87-45-345, alexander.bufalino@telit.com, for
Telit Wireless Solutions; or Todd Franke of Bob Gold & Associates,
+1-310-784-1040, todd@bobgoldpr.com, for Telit Wireless Solutions

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

AT&T to Broadcast Texas House Legislative Sessions to U-verse TV Customers StatewideBroadcasts to air through end of session on a trial basis at no cost to state

AUSTIN, Texas, April 2 /PRNewswire-FirstCall/ -- AT&T* today announced that it will begin televising Texas House legislative sessions in mid-April to its AT&T U-verse(SM) TV customers statewide. The trial program comes at the request of the state House of Representatives, whose members have asked that legislative sessions be televised to bring government closer to the public.

AT&T U-verse TV is available in parts of Dallas, Fort Worth, Houston, San Antonio, Austin, El Paso, Lubbock, Midland and Odessa and numerous suburban communities in those metro areas.

"Our goal is to be the best at connecting people, and that includes connecting legislators with their constituents," said Don Cain, president of AT&T Texas. "Our congratulations go to state Representatives Charlie Geren and Joaquin Castro for spearheading the move to televise the sessions."

"We commend AT&T for launching this trial. Watching live broadcasts of House sessions will be a new experience for consumers - many of whom live hundreds of miles from the Capitol," said state Rep. Charlie Geren.

Equipment vendor ViewCast of Plano, Texas will partner with AT&T to televise the hearings through the end of the Legislative session June 1. As part of the trial program, both companies have agreed to televise the sessions at no cost to the state.

The broadcasts will be available on channel 99, AT&T's PEG (public, educational and government) programming channel for U-verse TV customers. The Texas legislative sessions will be the first state government proceedings that AT&T has broadcast to its customers statewide anywhere in the country.

*AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.

About AT&T

AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services, the nation's fastest 3G network and the best wireless coverage worldwide, and the nation's leading high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of their three-screen integration strategy, AT&T operating companies are expanding their TV entertainment offerings. In 2009, AT&T again ranked No. 1 in the telecommunications industry on FORTUNE(R) magazine's list of the World's Most Admired Companies. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.

Geographic and service restrictions apply to AT&T U-verse. Call or go to http://www.uverse.att.com/ to see if you qualify.

About ViewCast

ViewCast develops industry-leading hardware and software for the transformation and delivery of professional-quality video over IP and mobile networks. ViewCast's award-winning solutions simplify the complex workflows required for the Web-based streaming of news, sports, music, and other video content to computers and mobile devices, empowering broadcasters, businesses, and governments to easily and effectively reach and expand their audiences. With more than 300,000 video capture cards deployed globally, ViewCast sets the standard in the streaming media industry. ViewCast Niagara(R) streaming appliances, Osprey(R) video capture cards, and Niagara SCX(R) encoding and management software provide the highly reliable technology required to deliver the multi-platform experiences driving today's digital media market.

ViewCast (http://www.viewcast.com/) is headquartered in Plano, Texas, USA, with sales and distribution channels located globally.

AT&T Inc.

CONTACT: Kerry Hibbs of AT&T Inc., +1-512-870-2005, mobile,
+1-512-934-0713, khibbs@att.com

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

Lightwave Logic, Inc. Prepares to Resume r33 Test Program

NEWARK, Del., April 2 /PRNewswire-FirstCall/ -- Lightwave Logic, Inc. (OTC Bulletin Board: LWLG; http://lightwavelogic.com/), a technology company focused on the development of electro-optic polymer materials for applications in high speed fiber-optic telecommunications and optical computing, announced today it intends to start its next phase of testing for material performance (r33) Teng-Man testing protocol in order to re-confirm previous test results.

Lightwave is currently preparing samples to start our next phase of testing as we are finishing the Perkinamine material characterization. We anticipate having the test samples ready within the next week and we expect to measure the electro-optic properties of these materials (r33 testing) shortly thereafter.

Fred Goetz Jr., co-founder of Lightwave stated, "Extrapolations based on previous test results suggest that a reasonable density of Perkinamine should radically surpass existing telecom standards. We are both excited and relieved to finally have this opportunity to prove out our technology."

Jim Marcelli, CEO added, "The r33 test results should be completed along with other material measurements and parameters within the next four to six weeks or sooner. The company's material is complex and requires numerous measurements necessary for commercialization."

About Lightwave Logic, Inc.

Lightwave Logic, Inc. is a development stage company, moving toward prototype demonstration and commercialization of its high-activity, high-stability organic polymers for applications in electro-optical device markets. Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers. Please visit the Company's website, http://www.lightwavelogic.com/, for more information.

Safe Harbor Statement

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.

Lightwave Logic, Inc.

CONTACT: Jim Marcelli, CEO, Lightwave Logic, Inc., +1-302-356-2717,
jmarcelli@lightwavelogic.com

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

Cricket Communications Goes Live with Bridgewater's WideSpan SystemDeployment facilitates mobile data growth and subscriber acquisition

LAS VEGAS, April 2 /PRNewswire-FirstCall/ -- Bridgewater Systems (TSX: BWC), the mobile personalization company, today announced that Cricket Communications has successfully deployed Bridgewater's WideSpan(R) 5000 system in a live network environment.

News - Cricket is implementing the WideSpan system to predict and manage the growth in the company's unlimited wireless service. - Bridgewater's WideSpan 5000 system is an integrated portfolio offering that enables personalization in a high mobile transaction environment. Anchored by Bridgewater's Subscriber Data Broker(TM) - a sophisticated subscriber data management solution - it integrates the Bridgewater(R) Service Controller and the Bridgewater(R) Application Policy Controller products in a highly-scalable, carrier-class blade server environment. - It allows service providers to: - Rapidly scale mobile data transactions - Each element of the Bridgewater portfolio has a certified transaction volume and is deployed on a common WideSpan carrier-class blade server system. New blades can be easily inserted into the system to scale to higher mobile data transaction volumes. - Reduce operating and capital costs - Eliminate the cost and burden of system engineering, configuration and procurement as the WideSpan system components are delivered pre-packaged, pre- configured and with certified transaction throughput. A transaction-based pricing model lowers costs as transaction volumes increase. - Attract and retain subscribers - WideSpan provides carrier- class performance, scalability and redundancy, accelerating time to market for new services and ensuring a satisfying subscriber experience. - Cricket is deploying the WideSpan system with the Subscriber Data Broker, Application Policy Controller, and Service Controller modules. Quotes David Sharpley, Senior Vice-President, Bridgewater Systems

"We are delighted that Cricket has successfully deployed our WideSpan system to meet the mobile transaction scalability requirements for its popular unlimited wireless services. This second major customer win is further market validation of Bridgewater's innovative approach to managing mobile data growth based on transaction volumes and a deep understanding of subscriber behaviors."

Tags/Keywords

Bridgewater Systems, Cricket, WideSpan, CTIA, Subscriber Data Broker, Subscriber Data Management System, Mobile Data Growth, unlimited wireless plan, flat-rate wireless plan

Links http://www.bridgewatersystems.com/WideSpan.aspx http://www.mycricket.com/ http://www.bridgewatersystems.com/2009-News-Releases.aspx

Visit Bridgewater Systems at CTIA, Meeting Room #501 Hall C5 at the Las Vegas Convention Center to talk with the experts and learn about Bridgewater's mobile personalization portfolio.

About Bridgewater Systems

Bridgewater Systems, the mobile personalization company, enables service providers to efficiently manage and profit from mobile data services, content and commerce. The company's market leading mobile personalization portfolio provides a real-time, unified view of subscribers including entitlements, devices, networks, billing profiles, preferences and context. Anchored by Bridgewater's Subscriber Data Broker(TM), the portfolio of carrier-grade and standards-based products includes the Bridgewater(R) Service Controller (AAA), the Bridgewater(R) Policy Controller (PCRF) and the Bridgewater(R) Home Subscriber Server (HSS). More than 120 leading service providers including America Movil, Bell Canada, Clearwire, Hutchison Telecom, Iusacell, Scartel, SmarTone-Vodafone, Sprint, Tata Teleservices, Tatung, Telmex, Telstra, and Verizon Wireless use Bridgewater's solutions to rapidly deliver innovative mobile services to over 150 million subscribers. For more information, visit us at http://www.bridgewatersystems.com/.

Bridgewater, Bridgewater Systems, the Bridgewater Systems logo, WideSpan, Smart Caps, and Subscriber Data Broker are trademarks or registered trademarks of Bridgewater Systems Corporation. All other company, product names and any registered and unregistered trademarks mentioned are used for identification purposes only and remain the exclusive property of their respective owners.

Certain statements in this release constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws and are made pursuant to the "safe harbour" provisions of such laws. Statements related to potential benefits of, and demand for, Bridgewater's products including statements with respect to the features and benefits that may be achieved through the use of Bridgewater's products and the relative position of these products vis-a-vis competitive offerings in the industry are forward-looking statements which are subject to certain assumptions, risks and uncertainties. Readers are cautioned not to place undue reliance on such statements. Risk factors that may cause the actual results, performance or achievements of Bridgewater to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements can be found in the public documents filed by Bridgewater from time to time with Canadian securities regulatory authorities. Bridgewater assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Bridgewater Systems

CONTACT: Joanne Steinberg, Bridgewater Systems,
joanne.steinberg@bridgewatersystems.com, (613) 591-9104 extension 2032; James
Cook, MS&L North America, james.cook@mslworldwide.com, (416) 967-3702

Digital Ally to Begin Shipping DVM-750 Advanced In-Car Video SystemsCOMPANY AWARDED INITIAL STATEWIDE CONTRACT FOR DVM-750 SYSTEMS

OVERLAND PARK, Kan., April 2 /PRNewswire-FirstCall/ -- Digital Ally, Inc. , which develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial security applications, today announced that the final version of its latest, most advanced in-car video system - the DVM-750 - has been released from engineering and delivered to production at the Company's manufacturing facility in Grain Valley, Missouri. The Company plans to begin delivering DVM-750 systems to law enforcement agencies later this month.

The DVM-750 In-Car Video System Integrated into a Rear View Mirror offers the following significant upgrades and enhancements, when compared with the Company's highly successful DVM-500 model:

-- The ability to connect up to four cameras and then select two cameras plus three audio channels for simultaneous recording. -- Full D1 recording resolution (720 X 480). -- Built-in monitor (1000 Nits) that is ten times brighter than previous displays. -- Electronic locking door with secure password access. -- Utilization of the latest h.264 recording codec. -- The new VoiceVault(TM) advanced wireless microphone with industry-first features, including a range of up to one mile and on-board memory that can record audio evidence when the officer is beyond the range of the in-car recording device.

An 8GB card comes standard with the DVM-750, and larger capacity cards are optional to provide longer recording times.

"Although the DVM-750 was originally scheduled for release in the fourth quarter of 2008, we elected to delay production until management was satisfied that the new system was engineered to the highest standards as the most robust, feature-rich, space-efficient, cost-efficient in-car video system in its class on the market," stated Stanton E. Ross, Chief Executive Officer of Digital Ally, Inc. "Customers have responded enthusiastically to the DVM-750 and its innovative features. We have a backlog of over $2 million in orders for the new systems that we expect to begin shipping later this month."

The Company also announced that it has been awarded an initial statewide contract for the DVM-750. The name of the state was not disclosed, at the request of the customer. The contract is for a period of twelve months, with two additional twelve-month extensions available if agreeable to both parties. Immediately following the award, the state's Highway Patrol Department placed an initial order for DVM-750 systems. The contract provides that the DVM-750 can be purchased by all city, county and other state law enforcement agencies at the prices stipulated in the contract.

"This is Digital Ally's first statewide contract for the DVM-750, and if the contract is extended over the full three-year period, we believe it could result in cumulative orders totaling in excess of $4 million," continued Ross. "The Company currently has seven statewide contracts for its DVM-500 system."

"Other new products scheduled for introduction in 2009 include the DVM-500Ultra, a waterproof, portable video and audio system designed for police motorcycles, ATV beach patrol units, the U.S. Coast Guard, and marine police agencies; FirstVu(TM), a professional, wearable digital video/audio system with GPS marking features and infrared illumination for low-light operation; VoiceVault(TM), an advanced wireless microphone with a transmission range in excess of one mile, on-board memory, and an 'office down/emergency' call button that provides the GPS location of the officer; and the DVM-250 Pro, an event recorder for mass transportation markets," concluded Ross.

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 is 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 deliver its new product offerings as scheduled and have them perform as planned or advertised; its ability to increase revenue and profits in the current economic climate; the sales that will ultimately be generated under its first statewide contract for the DVM-750; its ability to continue to expand its share of the in-car video market in the domestic and international law enforcement communities; uncertainties regarding market acceptance, domestically and internationally, for one or more of its new products; its ability to commercialize its products and production processes, including increasing its production capabilities to satisfy orders in a cost-effective manner; competition; patent protection on its products; 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 risk factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2008 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

San Bernardino County Customers Receive More 3G Coverage With Six New Verizon Wireless Cell SitesInvestment increases consumer value as demand grows for calls, email, text, web, video and music

IRVINE, Calif., April 2 /PRNewswire/ -- San Bernardino County residents, businesses and visitors are enjoying improved service thanks to six new Verizon Wireless cell sites. The sites expand 3G wireless coverage in:

-- El Mirage - Along the town of El Mirage from the San Bernardino / Los Angeles county border to Hwy 395 -- Ludlow - Along the 40 Fwy from Ludlow to Hector Mine Rd. -- Needles - Covers a large span of Hwy 95 north of Vidal -- Rancho Cucamonga - To the 210 Freeway and areas of Rancho Cucamonga north of the 210 Fwy -- Rialto - Along the 210 Fwy at Riverside Dr. and the north end of Rialto along Riverside Dr. -- San Bernardino - Along Baseline St., from Waterman Ave. to Sterling Ave. and along Tippecanoe Ave. from 5th St. to Highland Ave. The new site helps fill-in poor coverage spots in surrounding businesses and residential areas

The increase in network coverage and capacity means more calls, emails, text and picture messages for locals, plus expanded wireless access to the web.

Verizon Wireless invested over $600 million in California during 2008 to enhance service and coverage. Nationally, the company has invested more than $48 billion in its network since it was formed in 2000. The result is the nation's largest, most reliable 3G network that powers services such as Mobile Broadband and email.

Businesses of any size can tap into the power of Mobile Broadband. The service allows users to connect to the Internet wirelessly while on the go to download music over-the-air, and access e-mail or corporate data. For example, customers can download a small 1 megabyte PowerPoint(R) presentation in about eight seconds and upload the same-sized file in less than 13 seconds.

Small business owners interested in Mobile Broadband, and other wireless solutions, can visit http://smallbusiness.vzw.com/ where they will find:

-- An online forum to share experiences and connect with other business owners -- Access to Small Business Specialists in each Verizon Wireless store -- Discounts and promotions to help businesses stretch their budgets -- Summaries of mobile solutions like email, wireless Internet and Push to Talk service -- 24/7 tech support

Verizon Wireless tests its network and those of its competitors. The company determines if voice calls and data connections are successful on the first attempt and stay connected. Nationally, Verizon Wireless' real-life test men and women drive 91 specially equipped vehicles almost 1,000,000 miles annually. They drive on Interstate, U.S. and state highways, as well as major roads and streets in high-population areas, based upon U.S. Census counts. Vehicles are equipped with computers that automatically make more than three million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.

About Verizon Wireless

Verizon Wireless

CONTACT: Ken Muche of Verizon Wireless, +1-949-286-8193,
Ken.Muche@VerizonWireless.com

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

Daily Scoop Delivers Value and Information to Verizon Wireless CustomersSends Coupons, Offers, Trivia and Other Information to the Mobile Phone

LAS VEGAS, BASKING RIDGE, N.J., and MCLEAN, Va., April 2 /PRNewswire/ -- From CTIA WIRELESS 2009(R), Verizon Wireless, the nation's leading wireless service provider, today announced the availability of Daily Scoop, which offers Verizon Wireless customers customized sports scores, weather, trivia, local gas prices and more, along with offers and discounts from local and national retailers.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090402/NY92357 )

Daily Scoop is a free application that customers can download from the Shopping n Style and Download This! categories under the Browse & Download section on Get It Now(R)-capable phones. Customers may choose to enter their age, gender and zip code, and Daily Scoop will deliver relevant information and offers from retailers located in customers' geographic areas.

Richard Williams, executive director of corporate marketing for Verizon, said, "The coupons, discounts, offers, plus other useful information that comes from Daily Scoop should help our customers save money and get information relevant to their lives and their families' lives. We're focused on making the mobile phone as useful as possible for our customers, and applications like Daily Scoop help us bring customers what they need."

Much of the information is delivered as a graphically rich banner when the handset is not in use. For example, local weather reports can arrive at 8 a.m., and offers from restaurants may arrive later in the day when customers may be making decisions about what to do for dinner.

Verizon is working with Virginia-based Mobile Posse, a leading provider of idle screen delivery solutions for mobile content and advertising, on Daily Scoop. The application is available on more than 25 feature-packed phones, including the MOTO(TM) W755, enV(2)(TM) by LG and Verizon Wireless Juke by Samsung.

Use of Daily Scoop is free; if a customer does not have an unlimited data plan, the first-time download of the application will incur either airtime charges or megabyte charges of $1.99 per megabyte, depending on their customer agreement.

For more information about Verizon Wireless products and services, visit a Verizon Wireless Communications Store, call 1-800-2 JOIN IN or go to http://www.verizonwireless.com/.

About Verizon Wireless

Photo: http://www.newscom.com/cgi-bin/prnh/20090402/NY92357
http://photoarchive.ap.org/
AP PhotoExpress Network: PRN8
PRN Photo Desk, photodesk@prnewswire.com Verizon Wireless

CONTACT: Debra Lewis, Verizon Wireless, +1-908-559-7512 (office),
+1-917-848-0035 (mobile), Debra.Lewis@verizonwireless.com

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

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

Microsoft PlayReady Helps Expand Digital Content Economy With New Adoption for Mobile and In-Home Entertainment ScenariosPacketVideo broadens PlayReady support to include multiple mobile device platforms.

REDMOND, Wash., April 2 /PRNewswire-FirstCall/ -- Taking steps to help expand the marketplace and improve the consumer experience for digital entertainment, Microsoft Corp. today announced that PacketVideo Corp. will include support for Microsoft PlayReady technology in its CORE multimedia platform, significantly broadening PlayReady's reach to a range of mobile device platforms. Microsoft also announced the availability of the PlayReady Service Provider Program, in addition to announcing a range of content and technology companies that join the more than 50 companies that have selected Microsoft PlayReady technology to power products and services to deliver mobile and in-home entertainment content. PlayReady is a content access technology that enables content owners and service providers to deliver virtually any type of digital content, using a wide range of business models, from on-demand streaming video and subscription to rental or download-to-own. PlayReady also provides significant improvements in ease of use for consumers looking to access, manage and sync protected content with devices.

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

PacketVideo, which demonstrated the first PlayReady reference implementation in 2007, announced that it is building PlayReady support into CORE, its rich media framework that has shipped in more than 320 different devices worldwide. With CORE, PacketVideo is broadening PlayReady support for mobile platforms such as Android, Linux and Symbian OS. Future devices built on these platforms will have the option to include support for PlayReady content beginning later in 2009.

"PlayReady enables support for a broad range of business models, and PacketVideo is excited to extend new opportunities to our customers," said Osama Alshaykh, chief technology officer, PacketVideo. "We look forward to combining Microsoft's developer base with CORE's widespread traction in the mobile marketplace."

PlayReady Service Provider Program Speeds Time to Market for Content Services

The PlayReady Service Provider Program, which launches today, provides companies that want to deliver PlayReady-protected content with an easy way to do so without having to deploy their own PlayReady server systems or directly license PlayReady Server technology from Microsoft. Content distribution networks (CDNs) and hosting companies participating in the program as PlayReady Service Providers can provide highly scalable PlayReady server-based solutions to other companies, helping them bring content services to market quickly. Already six companies have been approved as PlayReady Service Providers:

-- BuyDRM serves the enterprise, entertainment and education markets globally and provides PlayReady services for marketing, monetizing and monitoring content delivered via Microsoft Silverlight. -- CDNetworks, which serves leading media and entertainment, technology, retail, and online gaming companies worldwide, provides PlayReady services for the protection of digital assets in the e-learning, portal, and media and entertainment markets. -- Entriq Inc., which serves the world's major content owners, pay-TV operators and online publishers, provides PlayReady services as a fully integrated component of its Publish, Control and Monetize solutions. -- ExtendMedia Corp. provides OpenCASE, a multiscreen media monetization platform that uses PlayReady technology to enable telecommunications operators and other media distributors to create, manage, publish and securely deliver digital content across broadband, TV and mobile devices. -- Ipercast Inc., which delivers secure streaming, downloading and peer-to-peer services with a strong technical presence in six European countries, as well as in Canada and the United States, will provide PlayReady services for its customers to enable the delivery of a wide range of next-generation content services. -- iStreamPlanet Co., which has a rich history of delivering solutions and live events using Microsoft's digital media technologies, provides PlayReady-based services to companies looking to secure their content in the global enterprise and media and entertainment space.

"The launch of the PlayReady Service Provider Program provides a new choice for companies wanting to deliver high-quality content services to consumers, helping those companies get to market faster than ever and quickly realize the benefits of PlayReady technology," said Garrett Glanz, senior director of business development for the TV, Video and Music Business Group at Microsoft. "Together with the new adoption we're announcing by a wide range of industry leaders, PlayReady is poised to play a critical role in expanding and accelerating the marketplace for digital goods."

New PlayReady Adoption Continues in Tools, Platforms and Content Services

Since the first release of the PlayReady platform in mid-2008, more than 50 companies have now licensed the technology for use in products and services for entertainment and other content scenarios. Today, in addition to the launch of the PlayReady Service Provider Program, several companies are announcing they are incorporating PlayReady into their offerings:

-- Axinom GmbH, which is building support for PlayReady into its Enterprise Web Content Management System AxCMS.net that will enable content and service providers to rapidly deploy solutions to manage and distribute PlayReady-protected content through customizable Silverlight front ends. -- Cloakware, which is adding a pre-secured PlayReady implementation and related consulting services to its Cloakware DRM Solutions product line, enabling application developers and consumer electronics device manufacturers to more easily meet compliance and robustness rules, bridge from conditional access systems and integrate into multimedia applications, all while reducing time to market and increasing return on investment. -- CoreMedia integrates PlayReady into its solutions for content management and video on demand via the Web and focuses on near-term deployments in Microsoft Silverlight scenarios with major network and service operators. -- Envivio Inc., which is building support for PlayReady into its hardware encoder product line, which will enable real-time protection of high-quality audio and video content for use in live mobile TV and Internet TV scenarios. -- SafeNet Inc., which is supporting PlayReady in DRM Fusion product family, client and server DRM solutions for mobile operators, service providers, platform integrators and device manufacturers. The SafeNet DRM Fusion products enable various business models, interface to billing and provisioning systems, and are designed for easy integration with content delivery platforms and devices. -- Twofour Digital is integrating PlayReady into its Internet protocol (IP)-based live streaming and video-on-demand platform MEDIAFREEDOM, to support the distribution of protected high-quality commercial video content by major broadcasters and other content services. -- TXT Polymedia has integrated PlayReady technology into its "Media in a Box" product, an integrated solution for companies that want to enrich their online presence with high-quality video content and video advertising, including support for streaming, downloads and rental of content.

Microsoft PlayReady is designed to enable digital entertainment services across devices and software applications, with a specific focus on meeting the needs of mobile and network operators, service providers and device manufacturers. PlayReady supports a broad range of different business models that can be applied to almost any type of digital content, including video, games, ringtones, images and more, and a wide range of audio and video formats, including MPEG Advanced Audio Coding (AAC), AAC+, Enhanced AAC+, H.264, Windows Media Audio (WMA) and Windows Media Video (WMV). PlayReady also provides features such as service domains and embedded licenses, specifically designed to make it easy for consumers to enjoy content on all their registered devices without the need for an active connection.

More information on Microsoft PlayReady technology, including details of the PlayReady Service Provider Program, can be found on the Web at http://www.microsoft.com/playready.

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

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

CONTACT: Laura Gonia of Weber Shandwick, +1-425-452-5480,
lgonia@webershandwick.com, for Microsoft Corp.

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

Verizon Wireless' VZ Navigator and 411 Search Work Together as a One-Stop Shop for Destination InformationNew Automatic Speech Recognition Makes It Easier to Find Locations

LAS VEGAS and BASKING RIDGE, N.J., April 2 /PRNewswire/ -- From CTIA WIRELESS 2009(R), Verizon Wireless, the nation's leading wireless service provider, said today that getting directions to a chosen location is easier than ever with VZ Navigator(SM).

(Photo: http://www.newscom.com/cgi-bin/prnh/20090402/NY92353 )

After using 411 Search to find a phone number or address, Verizon Wireless customers with VZ Navigator-capable phones can now have a Place Message with that destination sent to their phones, simply by pressing "1" when prompted. The customer can then use VZ Navigator to display the location on a map or navigate to that location.

Connecting these two popular services means that details for a listing found with Verizon Wireless' directory assistance can be provided to Verizon Wireless' VZ Navigator location-based service (LBS) so that customers can access audible turn-by-turn navigation to their destinations. VZ Navigator offers customers the ability to find more than 15 million points of interest -- from ATMs and gas stations to restaurants and tourist destinations.

Jon Wells, vice president for product development at Verizon, said, "We found that many customers were using the 411 service with the hopes of finding directions to that location, so we launched the integrated VZ Navigator with 411 Search nationwide to provide customers with a one-stop shop for listing information and directions. The service offers convenience and value while eliminating the need for customers to manually enter their destination information, especially when driving."

Automatic Speech Recognition Makes VZ Navigator Hands-Free and Easier to Use

VZ Navigator on select Get It Now(R)-capable phones now has automatic speech recognition to make searching for destinations hands-free and easier than ever to use. When in the application, customers must hold the "send" key until they hear a tone, then simply say the name of the location or destination they want to find. The request is recorded and sent to VZ Navigator, which searches for the location and returns the turn-by-turn directions to the phone.

Automatic speech recognition works with mapping, navigation, local search and any other destination where data entry would be required. A voice icon is included on the search field so customers know when they can ask for directions or mapping, rather than typing in the information.

Pricing

VZ Navigator with 411 Search is available on select feature phones that are VZ Navigator-capable. Standard 411 Search charges of $1.49 per call apply, but there is no additional charge for the Place Message. VZ Navigator is available for $9.99 unlimited monthly access or $2.99 for one-day use on select Media Center/Get It Now-capable phones. Airtime or megabyte charges and specific terms of use apply when browsing, downloading and using the application.

For more information about Verizon Wireless products and services, visit a Verizon Wireless Communications Store, call 1-800-2 JOIN IN or go to http://www.verizonwireless.com/.

About Verizon Wireless

Photo: http://www.newscom.com/cgi-bin/prnh/20090402/NY92353
AP Archive: http://photoarchive.ap.org/
AP PhotoExpress Network: PRN6
PRN Photo Desk, photodesk@prnewswire.com Verizon Wireless

CONTACT: Debra Lewis, Verizon Wireless, +1-908-559-7512 (office),
+1-917-848-0035 (mobile), Debra.Lewis@verizonwireless.com

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

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

LodgeNet Healthcare Provides Industry's First Integrated High-Definition Interactive System for HospitalsIntegrated Solution with LG Electronics Maximizes Investment in Flat-Screen HD Televisions

SIOUX FALLS, S.D., April 2 /PRNewswire-FirstCall/ -- LodgeNet Healthcare, a division of LodgeNet Interactive Corporation , announced it will be demonstrating its high-definition (HD) Interactive Patient Television System at the Health Information and Management System Society (HIMSS) Annual Conference and Convention next week in Chicago. LodgeNet Healthcare has built a reputation for designing and delivering reliable patient television solutions to the healthcare industry. "We are extremely excited to show our latest interactive patient television solution to the attendees at HIMSS," said General Manager Gary Kolbeck. LodgeNet Healthcare offers professional services, digital migration planning and interactive solutions for hospitals that need to upgrade their patient television network.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/AQTU120LOGO)

Hospitals are confronted with having to upgrade their antiquated televisions and video network to meet the needs of improved technology and patient expectations. The televisions of today are much more sophisticated and offer more features than the bulky traditional tube sets found in most hospitals. Working closely with LG Electronics, LodgeNet has developed an interactive solution that enhances those features. "The integrated solution offered by our two companies makes a practical solution for hospitals that are looking to make this investment," explained Ron Snaidauf, Vice President, Commercial Products, LG Electronics USA.

This fully integrated offering (exclusively from LG and LodgeNet) makes it the only solution available without the need for a PC or set-top box in every room, and it can be delivered on a facility's current coaxial network or over IP, whichever is more cost effective for the hospital. This patented architecture can mean significant savings for hospitals now able to avoid expensive re-cabling and the purchase and support of additional in-room equipment, which can be costly to support. "By making a smart architecture purchase up front with LG televisions and LodgeNet's services, hospitals will be able to take advantage of the new and exciting technology when they're ready for it," said Snaidauf.

LodgeNet Healthcare's professional services and digital migration planning provide facilities with a comprehensive outlook on how to deploy a patient television solution that is right for them. "No two hospitals are the same, and we provide a service that can help people responsible for these projects understand the financial and operational impacts," Kolbeck said. "From hanging the TVs, to pulling cable, to providing Pro:Idiom(R) encrypted HD content, LodgeNet and LG can handle it all." Because of LodgeNet's unique background in hospitality, the company is also able to support other patient connectivity devices from iPod's to portable movie players.

LodgeNet Healthcare (Booth 7951) and LG Electronics (Booth 8315) will both be exhibiting at the HIMMS Annual Conference and Convention at the McCormick Place complex in Chicago, April 4-8.

About LodgeNet Interactive

LodgeNet Interactive Corporation is the leading provider of media and connectivity solutions designed to meet the unique needs of hospitality, healthcare and other guest-based businesses. LodgeNet Interactive serves more than 1.9 million hotel rooms representing 10,100 hotel properties worldwide in addition to healthcare facilities throughout the United States. The company's services include: Interactive Television Solutions, Broadband Internet Solutions, Content Solutions, Professional Solutions and Advertising Media Solutions. LodgeNet Interactive Corporation owns and operates businesses under the industry leading brands: LodgeNet, LodgeNetRX, and The Hotel Networks. LodgeNet Interactive is listed on NASDAQ and trades under the symbol LNET. For more information, please visit http://www.lodgenet.com/.

LodgeNet is a registered trademark of LodgeNet Interactive Corporation. Other trademarks are the property of their respective owners.

Photo: http://www.newscom.com/cgi-bin/prnh/20080115/AQTU120LOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com LodgeNet Interactive Corporation

CONTACT: Ann Parker, Director of Corporate Communications of LodgeNet
Interactive Corporation, +1-605-988-1000, communications@lodgenet.com

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

Elbit Systems of America, LLC Awarded Repair Contract for F-16 Fire Control Radar

FORT WORTH, Texas, April 2 /PRNewswire-FirstCall/ -- Elbit Systems of America, LLC, a wholly owned subsidiary of Elbit Systems Ltd. , was awarded a follow-on contract by the US Air Force, Ogden Air Logistics Center, for depot level repair services on the F-16 AN/APG-68 Fire Control Radar Modular Low Power Radio Frequency (MLPRF).

(Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300488 )

The AN/APG-68 is a long-range, Pulse-Doppler radar originally designed and manufactured by Northrop Grumman to replace the AN/APG-66 radar in the F-16 Fighting Falcon Aircraft. The system, designed to detect targets for the fire control system, consists of four line-replaceable units (LRUs): an antenna, a dual-mode transmitter (DMT), the MLPRF, and a programmable signal processor (PSP). The MLPRF provides a radio frequency drive signal to the DMT and the basic system clocks to the other LRUs in the radar system. It receives radio frequency signals from the antenna and converts them to video signals which are digitized and sent to the PSP for threat/target matching against the radar threat tables before sending video to the flight crew system display. Elbit Systems of America is one of only two companies qualified by the US Air Force to perform depot level maintenance on the AN/APG-68 MLPRF, DMT and Antenna.

"This award demonstrates our continued commitment to provide exceptional life-cycle management services in support of mission readiness requirements, and further compliments our strong relations with the US Air Force Air Logistics Center," commented Raanan Horowitz, president and chief executive officer of Elbit Systems of America. The work on the F-16 AN/APG-68 MLPRF will be performed by the Elbit Systems of America Service and Support Solutions Business Unit in the company's Talladega, Alabama facility.

About Elbit Systems of America, LLC

Elbit Systems of America is a leading provider of high performance products and system solutions focusing on the commercial aviation, defense, homeland security, and medical instrumentation markets. With facilities throughout the United States, Elbit Systems of America is dedicated to supporting those who contribute daily to the safety and security of the United States. Elbit Systems of America, LLC is wholly owned by Elbit Systems Ltd. , a global electronics company engaged in a wide range of programs for innovative defense and commercial applications.

About Elbit Systems

Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of defense-related programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned air vehicle (UAV) systems, advanced electro-optics, electro-optic space systems, EW suites, airborne warning systems, ELINT systems, data links and military communications systems and radios. The Company also focuses on the upgrading of existing military platforms and developing new technologies for defense, homeland security and commercial aviation applications.

Trademarks

Elbit Systems of America and other trademarks, service marks and logos are registered or unregistered marks of Elbit Systems of America companies in the United States and in foreign countries. Copyright (c) 2009 Elbit Systems of America. All rights reserved.

Forward Looking Statement

This press release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current fact. Forward Looking Statements are based on management's expectations, estimates, projections and assumptions. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results, performance and trends may differ materially from these forward-looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this release. The Company does not undertake to update its forward-looking statements.

Photo: http://www.newscom.com/cgi-bin/prnh/20080408/300488 Elbit Systems of America

CONTACT: Contact: Lynn Peugh, +1-817-234-6696,
Lynn.Peugh@elbitsystems-us.com

NVIDIA Names Harvard University a CUDA Center of ExcellenceHarvard Recognized as a CUDA Center of Excellence for Its Pioneering Work Using GPU Computing

SANTA CLARA, Calif., April 2 /PRNewswire-FirstCall/ -- NVIDIA Corporation, inventor of the GPU, today announced that Harvard University has been recognized as a CUDA Center of Excellence for its commitment to teaching GPU Computing and its integration of CUDA(TM)-enabled GPUs for a host of science and engineering research projects. The honor complements a prior $2M grant the University received from the National Science Foundation (NSF) for the development of GPU-enabled computational science.

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

CUDA is NVIDIA's computing architecture that enables its GPUs to be programmed using industry standard programming languages, opening up their massive parallel processing power to a broad range of applications beyond graphics.

"With interest in the CUDA architecture spreading rapidly across the Harvard campus and the lively scientific landscape in Boston, there has never been a better time to announce this partnership," said Hanspeter Pfister, Gordon McKay Professor of the Practice of Computer Science in Harvard's School of Engineering and Applied Sciences and Director of Visual Computing at the Harvard Initiative in Innovative Computing. "This generous gift from NVIDIA will provide excellent learning opportunities for Harvard students, accelerate our research and expand the use of GPUs for computing in science and other advanced applications."

Pfister, who is teaching a new course related to heterogeneous computing, added, "My course is designed to respond to the growing interest in GPU programming in the world of science. We look forward to taking advantage of the new teaching cluster and CUDA environment - these new assets will provide exciting opportunities for our students and the surrounding technical community."

Harvard is already using GPUs to carry out research across fundamentally important areas such as decoding the intricate structure of the human brain (Connectome project), discovering the origins of the universe (MWA telescope project) and studying the quantum chemistry of molecules (Qchem project).

"Naming Harvard as a CUDA Center of Excellence is a formal recognition of the strong academic collaboration between the University and NVIDIA," said Bill Dally, chief scientist at NVIDIA. "Harvard will include the CUDA architecture in its curricular offerings. Researchers will use CUDA in projects at Harvard and in collaborative ventures with faculty at Boston University, to bring GPU computing to scientists and engineers throughout the Boston academic epicenter."

Boston University, where physicists are using GPU computing to probe the subatomic structure of matter, is recognized as a Founding Partner in the CUDA Center of Excellence.

For more information on NVIDIA and CUDA, visit http://www.nvidia.com/ and CUDA Zone at http://www.nvidia.com/cuda. For more information about Harvard University and the School of Engineering and Applied Sciences visit http://www.harvard.edu/ and http://www.seas.harvard.edu/.

About NVIDIA

NVIDIA is the world leader in visual computing technologies and the inventor of the GPU, a high-performance processor which generates breathtaking, interactive graphics on workstations, personal computers, game consoles, and mobile devices. NVIDIA serves the entertainment and consumer market with its GeForce(R) products, the professional design and visualization market with its Quadro(R) products, and the high-performance computing market with its Tesla(TM) products. NVIDIA is headquartered in Santa Clara, California, and has offices throughout Asia, Europe, and the Americas. For more information, visit http://www.nvidia.com/.

Certain statements in this press release including, but not limited to, statements as to: the CUDA Center of Excellence Program; the benefits of the relationship between NVIDIA and Harvard University; and the performance, impact and benefits of CUDA technology; are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: development of more efficient or faster technology; design, manufacturing or software defects; the impact of technological development and competition; changes in consumer preferences and demands; customer adoption of different standards or our competitor's products; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems as well as other factors detailed from time to time in the reports NVIDIA files with the Securities and Exchange Commission including its Form 10-K for the fiscal period ended January 25, 2009. Copies of reports filed with the SEC are posted on our website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

Copyright (C) 2009 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, GeForce, Quadro, Tesla, and CUDA are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated.

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

CONTACT: Andrew Humber of NVIDIA Corporation, +1-408-486-8138,
ahumber@nvidia.com

Web Site: http://www.harvard.edu/

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