Novellus Systems Reports First Quarter Results

SAN JOSE, Calif., April 22 /PRNewswire-FirstCall/ -- Novellus Systems, Inc. today reported operating results for its first quarter ended March 28, 2009. Net sales for the first quarter of 2009 were $98.9 million, down $89.5 million or 47.5 percent from fourth quarter 2008 net sales of $188.5 million, and down $215.8 million or 68.6 percent from first quarter 2008 net sales of $314.7 million. The net loss for the first quarter of 2009 was $66.4 million, or $0.69 per diluted share, $63.9 million less than fourth quarter 2008 net loss of $130.3 million, or $1.36 per diluted share, and down $81.9 million from first quarter 2008 net income of $15.5 million, or $0.15 per diluted share.

First quarter 2009 results of operations include a $19.4 million charge as a result of a recent California tax law change. We incurred other charges of $2.0 million primarily in connection with our actions, announced in the fourth quarter of 2008, to align our business with the current economic environment. First quarter 2009 net loss without those items was $45.5 million, or $0.47 per diluted share. Excluding certain charges and benefits, fourth quarter 2008 net loss was $20.0 million, or $0.21 per diluted share, and first quarter 2008 net income was $16.0 million, or $0.16 per diluted share. A reconciliation of pro forma operating results to U.S. generally accepted accounting principles ("GAAP") is included below.

Bookings in the first quarter of 2009 were $77.8 million, down $4.9 million or 5.9 percent from fourth quarter 2008 bookings of $82.7 million. Bookings were net of $10.6 million in backlog adjustments in the first quarter of 2009 compared to adjustments of $44.9 million in the fourth quarter of 2008. First quarter 2009 shipments of $92.1 million were down by $83.5 million or 47.6 percent from $175.6 million reported for the fourth quarter of 2008. Deferred revenue at the end of the first quarter of 2009 was $40.2 million, a decrease of $16.1 million or 28.6 percent from $56.3 million at the end of the fourth quarter of 2008.

Cash, cash equivalents, and short-term investments as of March 28, 2009 were $497.7 million, an increase of $26.8 million or 5.7 percent from the fourth quarter 2008 ending balance of $470.9 million. Long-term investments and restricted cash and cash equivalents as of March 28, 2009 were $204.4 million, a decrease of $7.2 million or 3.4 percent from the fourth quarter 2008 ending balance of $211.6 million.

Richard S. Hill, Chairman and Chief Executive Officer said, "The economic environment continues to be challenging and we remain disciplined and focused on cash flow and cost containment. We are cautiously optimistic that our customers' order activity levels have stabilized and are beginning to rebound, although still at relatively low levels compared to our expectations."

Management uses non-GAAP measures to evaluate operating performance. The presentation of net income (loss) excluding certain charges and benefits and the discussion of revenue on a shipments basis are not in accordance with GAAP and may differ from non-GAAP methods of accounting and reporting used by other companies. We present net income (loss) on a pro forma basis, excluding certain charges and benefits, because we believe this helps both management and investors to assess the operating performance of our business by comparing it to prior periods on a more consistent basis. A reconciliation between our GAAP and non-GAAP results is provided below. Non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures.

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

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, including the statements regarding (i) our goal to remain disciplined and focused on cash flow and cost containment; (ii) our belief that our customers' order activity levels have stabilized and are beginning to rebound, although still at relatively low levels; and (iii) other matters discussed in this news release that are not purely historical data. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contemplated by such statements. These risks and uncertainties include, but are not limited to (i) our inability to sufficiently reduce our cost structure; (ii) our inability to prevent unexpected increases in costs associated with manufacturing our products; (iii) our inability to accurately predict our customers' capital spending, including any further reductions in capital spending, which could have a material adverse effect on the industry's demand for semiconductor processing equipment; and (iv) other risks indicated in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2008, our Current Reports on Form 8-K, and amendments to such reports. Forward-looking statements are made and based on information available to us on the date of this press release. We do not assume, and expressly disclaim, any obligation to update this information.

About Novellus:

Novellus Systems, Inc. is a leading provider of advanced process equipment for the global semiconductor industry. The Company's products deliver value to customers by providing innovative technology backed by trusted productivity. An S&P 500 company, Novellus is headquartered in San Jose, CA with subsidiary offices across the globe. For more information please visit http://www.novellus.com/.

NOVELLUS SYSTEMS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per Three Months Ended share amounts) March 28, December 31, March 29, (Unaudited) 2009 2008 2008 Net sales $98,913 $188,453 $314,713 Cost of sales 73,175 119,936 169,773 ------ ------- ------- Gross profit 25,738 68,517 144,940 % 26.0% 36.4% 46.1% Selling, general and administrative 43,102 52,061 60,329 Research and development 36,015 50,856 57,340 Impairment of goodwill - 99,522 - ------ ------ ------ Total operating expenses 79,117 202,439 117,669 % 80.0% 107.4% 37.4% Income (loss) from operations (53,379) (133,922) 27,271 % -54.0% -71.1% 8.7% Other income (expense), net 1,296 (4,160) 1,109 ----- -------- ----- Income (loss) before income taxes (52,083) (138,082) 28,380 Provision for (benefit from) income taxes 14,309 (7,831) 12,851 ------ -------- ------ Net income (loss) $(66,392) $(130,251) $15,529 ========= =========== ======= Net income (loss) per share: Basic $(0.69) $(1.36) $0.15 ======= ======== ===== Diluted $(0.69) $(1.36) $0.15 ======= ======== ===== Shares used in basic per share calculation 96,193 96,016 100,683 ====== ====== ======= Shares used in diluted per share calculation 96,193 96,016 101,375 ====== ====== ======= NOVELLUS SYSTEMS, INC. RECONCILIATION OF NET INCOME (LOSS), EXCLUDING CERTAIN CHARGES AND BENEFITS (1) Three Months Ended (In thousands, except per share amounts) March 28, December 31, March 29, (Unaudited) 2009 2008 2008 Net income (loss) excluding certain (charges) benefits (2): $(45,515) $(19,986) $16,035 Impairment of goodwill - (99,522) - Other-than-temporary impairment of auction-rate securities - (3,491) - Reductions in workforce (1,731) (6,947) (618) Impairment of inventory and evaluation systems - (2,628) - Write down of certain research and development assets - (1,534) - Restructuring and other charges (313) (1,683) - Reversal of stock-based compensation expense - 545 - --- --- --- Total (charges) benefits (2,044) (115,260) (618) Tax effect of the above (charges) benefits 602 4,995 112 Charge due to California tax law change (19,435) - - --------- --------- --------- Net income (loss) $(66,392) $(130,251) $15,529 ========= =========== ======= Net income (loss) per diluted share excluding certain (charges) benefits: $(0.47) $(0.21) $0.16 Impairment of goodwill - (1.04) - Other-than-temporary impairment of auction-rate securities - (0.04) - Reductions in workforce (0.02) (0.07) (0.01) Impairment of inventory and evaluation systems - (0.03) - Write down of certain research and development assets - (0.01) - Restructuring and other charges (0.01) (0.02) - Reversal of stock-based compensation expense - 0.01 - Tax effect of the above (charges) benefits 0.01 0.05 0.00 Charge due to California tax law change (0.20) - - ------- ------- ------- Net income (loss) per diluted share $(0.69) $(1.36) $0.15 ========== ========== ========= (1) The reconciliation of net income (loss), excluding certain charges and benefits is intended to present our operating results, excluding certain charges and benefits. The reconciliation of net income (loss) is not in accordance with or an alternative for GAAP and may be different from similar measures presented by other companies. (2) For the three months ended March 28, 2009, there are charges of $0.1 million in cost of sales, $1.8 million in selling, general and administrative, $0.1 million in research and development and $19.4 million in the provision for (benefit from) income taxes. For the three months ended December 31, 2008, there are net charges of $4.0 million in cost of sales, $4.4 million in selling, general and administrative, $3.8 million in research and development, $99.5 million in impairment of goodwill and $3.5 million in other income (expense), net. For the three months ended March 29, 2008, there are charges of $0.1 million in selling, general and administrative and $0.5 million in research and development. NOVELLUS SYSTEMS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) March 28 December 31 2009 2008 ASSETS (Unaudited) Current assets: Cash, cash equivalents and short-term investments $497,722 $470,888 Accounts receivable, net 72,327 144,330 Inventories 193,432 213,305 Restricted cash and cash equivalents 112,724 116,819 Deferred taxes and other current assets 84,114 97,260 ------ ------ Total current assets 960,319 1,042,602 Property and equipment, net 261,218 271,866 Non-current restricted cash and cash equivalents 3,075 2,883 Long-term investments 88,584 91,873 Goodwill 125,474 126,073 Intangible and other assets 86,172 102,230 ------ ------- Total assets $1,524,842 $1,637,527 ========== ========== LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $134,981 $177,531 Deferred profit 8,085 14,784 Current debt obligations 110,497 112,907 ------- ------- Total current liabilities 253,563 305,222 Long-term income taxes payable 29,418 29,778 Other liabilities 49,949 55,745 ------ ------ Total liabilities 332,930 390,745 Shareholders' equity: Common stock 1,169,117 1,158,637 Retained earnings and accumulated other comprehensive loss 22,795 88,145 ------ ------ Total shareholders' equity 1,191,912 1,246,782 --------- --------- Total liabilities and shareholders' equity $1,524,842 $1,637,527 ========== ==========

Novellus Systems, Inc.

CONTACT: Jeffrey C. Benzing, Chief Administrative Officer,
+1-408-943-9700, or Robin Yim, Investor Relations, +1-408-943-9700, both of
Novellus Systems, Inc.

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

AnalogicTech Reports Financial Results for the First Quarter 2009

SANTA CLARA, Calif., April 22 /PRNewswire-FirstCall/ -- Advanced Analogic Technologies, Inc. ("AnalogicTech" or the "Company") , a developer of total power management integrated circuits, today reported financial results for the first quarter ended March 31, 2009.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050829/SFTU089LOGO)

Net revenue for the first quarter of 2009 was $16.5 million, a decrease of 34% over net revenue of $25.1 million for the first quarter of 2008 and a sequential decrease of 11% from net revenue of $18.6 million for the fourth quarter of 2008.

Net loss for the first quarter of 2009 was $(5.2) million, or $(0.12) per diluted share. This compares to net income of $0.4 million, or $0.01 per diluted share for the first quarter of 2008, and net loss of $(14.4) million, or $(0.32) per diluted share for the fourth quarter of 2008.

On a non-GAAP basis, excluding stock-based compensation expense, amortization of acquired intangibles, restructuring and other severance-related expenses, and the deferred tax asset valuation allowance, net of taxes, net loss for the first quarter of 2009 was $(3.5) million, or $(0.08) per diluted share. This compares to non-GAAP net income of $2.0 million, or $0.04 per diluted share, for the first quarter of 2008 and non-GAAP net loss of $(3.3) million, or $(0.07) per diluted share, for the fourth quarter of 2008. Non-GAAP net income for the first quarter of 2008 excluded stock-based compensation expense and amortization of acquired intangibles, net of taxes. Non-GAAP net loss for the fourth quarter of 2008 excluded stock-based compensation expense, amortization of acquired intangibles, an intangible asset impairment charge, an impairment loss on a private equity investment, restructuring and other severance-related expenses, and a charge to increase the deferred tax asset valuation allowance, net of taxes.

AnalogicTech reported gross margins of 44.9% for the first quarter of 2009, compared to 54.7% for the first quarter of 2008 and 38.2% for the fourth quarter of 2008. Non-GAAP gross margin was 45.6% for the first quarter of 2009, compared to 56.0% for the first quarter of 2008 and 43.3% for the fourth quarter of 2008. The Company ended the quarter with $103.6 million in cash, cash equivalents, and short-term investments.

"Our first quarter results were stronger than expected, particularly with our camera flash and battery management products," stated Richard K. Williams, President, CEO and CTO of AnalogicTech. "While the operating environment remains challenging, we are encouraged by our progress in securing design wins and increasing sales diversification. We were particularly pleased that revenue from our ModularBCD products reached 28% of our sales for the first quarter."

"Strong financial discipline continues to be a priority as we closely managed operating expenses during the quarter. We have also continued to focus on tightly regulating our inventory levels in order to effectively anticipate and respond to upside demand. We are proud of our ability to implement cost control measures while maintaining the commitment to our distinctive business fundamentals of leading product design and strong customer support."

Business Outlook

The following statements are based upon management's current expectations. These statements are forward-looking, and actual results may differ materially. AnalogicTech undertakes no obligation to update these statements.

For the second quarter ending June 30, 2009, AnalogicTech estimates revenue in the range of $18 million to $21 million, and net loss in the range of $(0.13) to $(0.10) per diluted share on a GAAP basis. The second quarter 2009 estimates include pre-tax quarterly share-based compensation expense in the range of $1.7 to $1.9 million.

Non-GAAP Reporting

In addition to GAAP reporting, AnalogicTech reports net income (loss), gross margin and earnings (loss) per share on a non-GAAP basis. This non-GAAP earnings information excludes certain items and their tax-related effects. AnalogicTech believes this non-GAAP earnings information provides meaningful insight into the Company's ongoing operational performance and has therefore chosen to provide this information to investors as an additional dimension of comparability to similar companies. AnalogicTech also uses this information internally to evaluate and manage company operations and to determine incentive compensation. A reconciliation between GAAP and non-GAAP net income (loss), gross margin and earnings (loss) per share is included in the tables below.

The non-GAAP information included in this press release is not necessarily comparable to non-GAAP information of other companies. Non-GAAP information should not be viewed as a substitute for, or superior to, net income or other data prepared in accordance with GAAP as measures of our profitability or liquidity. Users of this financial information should consider the types of events and transactions for which adjustments have been made.

Conference Call Details

The AnalogicTech first quarter 2009 teleconference and webcast is scheduled to begin at 4:30 p.m. Eastern Time on Wednesday, April 22, 2009. To participate in the live call, analysts and investors should dial 800-978-7659 or 303-262-2055 at least ten minutes prior to the call. AnalogicTech will also offer a live and archived webcast of the conference call, accessible from the company's investor relations website at http://www.aati.com/ in the "Webcasts" section. A telephonic replay of the conference call will also be available through April 26, 2009, by dialing 800-405-2236 and entering the passcode 11130267#. Callers outside the U.S. and Canada may access the replay by dialing 303-590-3000 and entering the passcode 11130267#.

About AnalogicTech

Advanced Analogic Technologies, Inc. (AnalogicTech) is a supplier of Total Power Management(TM) semiconductor solutions for a variety of consumer, communications, and computing systems. The company focuses its design and marketing efforts on the application-specific power management needs of such devices as mobile handsets, smartphones, digital cameras, netbooks / notebooks, personal navigation systems, and wireless LANs. AnalogicTech also develops and licenses device, process, package, and application-related technologies. AnalogicTech is headquartered in Santa Clara, CA and Macau, S.A.R., with offices in China, Hong Kong, Taiwan, Japan, Korea, and the U.K., as well as a worldwide network of sales reps and distributors. The company is listed on NASDAQ under the symbol AATI. For more information, please visit http://www.analogictech.com/. (AnalogicTech - F)

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

Statements contained in this release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including financial projections and forecasts, involve risks and uncertainties that could cause AnalogicTech's actual results to differ materially from our current expectations. Factors that could cause AnalogicTech's results to differ materially from those set forth in these forward-looking statements include customers' cancellation or modification of their orders; our failure to accurately forecast demand for our products; the loss of, or a significant reduction in orders from, any of our significant customers; consumer demand for cellular phones and other mobile consumer electronic devices; worldwide economic and political conditions, particularly in Asia; our ability to manage inventory levels, fluctuations in our operating results; our inability to develop and sell new products; defects in or failures of our products; the expense and uncertainty involved in our customer design-win efforts; the financial viability of the distributors of our products; fluctuations in our costs to manufacture our products; our reliance on third parties to manufacture, test, assemble and ship our products; our ability to retain and attract key personnel; our ability to compete with our competitors; and our ability to protect our intellectual property rights and not infringe the intellectual property rights of others. Other factors that may cause our actual results to differ from those set forth in the forward-looking statements contained in this press release and that may affect our prospects in general are described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2008. AnalogicTech undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or changed assumptions or circumstances.

AnalogicTech and the AnalogicTech logo are trademarks of Advanced Analogic Technologies, Inc. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders.

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands) Mar. 31, Dec. 31 2009 2008(*) ---- ---- ASSETS CURRENT ASSETS Cash and cash equivalents $45,714 $52,094 Short-term investments 57,929 57,443 ------ ------ Total cash, cash equivalents and short term investments 103,643 109,537 Accounts receivable, net of allowances 9,247 6,654 Inventories 8,749 9,016 Prepaid expenses and other current assets 1,905 2,100 ----- ----- Total current assets 123,544 127,307 Property and equipment, net 4,596 5,050 Other assets 4,175 4,060 Deferred income taxes - noncurrent 260 326 Intangible assets, net 315 395 Goodwill 16,116 16,116 ------ ------ TOTAL ASSETS $149,006 $153,254 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $7,374 $4,601 Accrued liabilities 3,083 3,739 Income tax payable 223 28 --- -- Total current liabilities 10,680 8,368 Long-term income tax payable 3,742 3,326 Other long-term liabilities 242 228 --- --- Total liabilities 14,664 11,922 ------ ------ Total stockholders' equity 134,342 141,332 ------- ------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $149,006 $153,254 ======== ======== * Amounts as of December 31, 2008 were derived from the December 31, 2008 audited consolidated financial statements. CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (in thousands, except per share amounts) (unaudited) Three Months Ended Mar. 31, Mar. 31 Dec. 31 2009 2008 2008 ---- ---- ---- NET REVENUE $16,549 $25,101 $18,629 Cost of revenue 9,118 11,369 11,508 ----- ------ ------ GROSS PROFIT 7,431 13,732 7,121 OPERATING EXPENSES: Research and development 6,583 7,659 7,010 Sales, general and administrative 5,429 6,445 5,923 Patent litigation 301 262 764 --- --- --- Total operating expenses 12,313 14,366 13,697 ------ ------ ------ LOSS FROM OPERATIONS (4,882) (634) (6,576) OTHER INCOME, NET 353 1,144 42 --- ----- -- INCOME (LOSS) BEFORE INCOME TAXES (4,529) 510 (6,534) PROVISION FOR INCOME TAXES 679 64 7,832 --- -- ----- NET INCOME (LOSS) $(5,208) $446 $(14,366) ======= ==== ======== NET INCOME (LOSS) PER SHARE: Basic $(0.12) $0.01 $(0.32) ====== ===== ====== Diluted $(0.12) $0.01 $(0.32) ====== ===== ====== WEIGHTED AVERAGE SHARES USED IN NET INCOME (LOSS) PER SHARE CALCULATION: Basic 43,052 45,491 45,183 ====== ====== ====== Diluted 43,052 47,060 45,183 ====== ====== ====== Note: Stock compensation recorded in each expense classification above is as follows: Cost of revenue $63 $77 $80 Research and development 700 790 426 Sales, general and administrative 812 860 537 --- --- --- $1,575 $1,727 $1,043 ====== ====== ====== Financial Summary (Non-GAAP) (in thousands, except per share amounts) (unaudited) Three Months Ended GAAP TO NON-GAAP RECONCILIATION Mar. 31, Mar. 31, Dec. 31, 2009 2008 2008 ---- ---- ---- GROSS MARGIN: ------------- GROSS MARGIN $7,431 $13,732 $7,121 GROSS MARGIN % 44.9% 54.7% 38.2% Amortization of acquired intangibles 54 242 242 Intangible asset impairment charge - - 627 Stock-based compensation 63 77 80 NON-GAAP GROSS MARGIN 7,548 14,051 8,070 NON-GAAP GROSS MARGIN % 45.6% 56.0% 43.3% NET INCOME (LOSS): ------------------ NET INCOME (LOSS): $(5,208) $446 $(14,366) Stock-based compensation 1,575 1,727 1,043 Amortization of acquired intangibles 64 290 290 Intangible asset impairment charge - - 755 Impairment loss on private equity investment - - 508 Restructuring and other severance expenses 124 - 482 Associated tax effects of above adjustments (345) (446) (603) Deferred tax asset valuation allowance 300 - 8,632 --- --- ----- Total adjustments 1,718 1,571 11,107 ----- ----- ------ NET INCOME (LOSS) ON NON-GAAP BASIS: $(3,490) $2,017 $(3,259) ======= ====== ======= EPS: ---- GAAP EPS, DILUTED $(0.12) $0.01 $(0.32) NON-GAAP EPS, DILUTED $(0.08) $0.04 $(0.07) Weighted average shares used to calculate Non-GAAP diluted EPS: 43,052 47,060 45,183

Photo: http://www.newscom.com/cgi-bin/prnh/20050829/SFTU089LOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Advanced Analogic Technologies, Inc.

CONTACT: Brian McDonald, Chief Financial Officer of AnalogicTech,
+1-408-737-4788; or Lisa Laukkanen of The Blueshirt Group, +1-415-217-4967,
for AnalogicTech

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

Thomson Reuters and the National Foundation for Cancer Research Provide Online Help for Cancer PatientsNexCura Cancer Profiler Tools Provide Patients with Treatment Information on www.nfcr.org

ANN ARBOR, Mich., April 22 /PRNewswire/ -- The National Foundation for Cancer Research (NFCR) announced today that it will incorporate NexCura(R) Cancer Profiler Tools from Thomson Reuters into its Web site.

The 20 online tools will provide cancer patients with critical, customized information about their treatment options.

"We are excited to provide a unique service like this to patients dealing with the stresses and questions that come with the diagnosis of cancer," said Franklin C. Salisbury, Jr., president of NFCR. "These tools empower cancer patients with the information they need but can't always easily find. These patients are under enough stress without having to experience difficulty in finding the information they need."

Alicia Moffat, vice president of Web operations for the Healthcare business of Thomson Reuters, explains: "The tools were created using patented technology that guides users through a step-by-step questionnaire to match the patient's diagnosis, diagnostic results, and disease stage with the relevant treatment options." All information provided by the NexCura Cancer Profiler Tools is peer-reviewed.

NFCR offers the NexCura Cancer Profiler under the Treatment Decision Tools section of its Web site (http://www.nfcr.org/patientsupport). The NexCura Cancer Profiler is the only online service generating comprehensive treatment information that is personalized for specific diagnoses and clinical status. The customized information enables patients to better communicate with their doctors and care teams and, through education, encourages the patient to play a more proactive role in treatment decisions.

About Thomson Reuters

The Healthcare business of Thomson Reuters produces insights, information, benchmarks and analysis that enable organizations to manage costs, improve performance and enhance the quality of healthcare. Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people in 93 countries. For more information, go to http://www.thomsonreuters.com/.

About NFCR

The National Foundation for Cancer Research has supported cutting-edge cancer research to advance personalized medicine and targeted therapies for over three decades. As a leading cancer charity, NFCR is dedicated to funding scientists who are discovering cancer's molecular mysteries and translating these discoveries into therapies that hold the hope for curing cancer. NFCR brings the most advanced medical resources to oncologists and health professionals to help guide their treatment decisions for patients worldwide. For more information, visit http://www.nfcr.org/.

Thomson Reuters

CONTACT: David Wilkins, Media Relations, Healthcare, +1-734-913-3397,
david.wilkins@thomsonreuters.com

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

NETGEAR(R) Reports First Quarter 2009 ResultsHighlights: -- Net revenue of $152.0 million, compared to $198.2 million in the comparable prior year quarter -- Non-GAAP net income of $1.8 million, compared to net income of $14.1 million in the comparable prior year quarter -- Non-GAAP diluted earnings per share of $0.05, compared to diluted earnings per share of $0.39 in the comparable prior year quarter-- Second quarter 2009 net revenue guidance in the range of $135 million to $145 million, with non-GAAP operating margin guidance in the range of 3% to 5%

SAN JOSE, Calif., April 22 /PRNewswire-FirstCall/ -- NETGEAR, Inc. (NasdaqGM: NTGR), a worldwide provider of technologically innovative, branded networking products, today reported financial results for the first quarter ended March 29, 2009.

Net revenue for the first quarter ended March 29, 2009 was $152.0 million, compared to $198.2 million for the first quarter ended March 30, 2008, and $161.4 million in the fourth quarter ended December 31, 2008. Net income, computed in accordance with GAAP, for the first quarter of 2009 was $42,000, or $0.00 per diluted share. This compared to net income of $11.2 million for the first quarter of 2008 and to a net loss of $7.3 million in the fourth quarter of 2008. Diluted earnings per share, computed in accordance with GAAP, was $0.31 for the first quarter of 2008 and a loss of $0.21 for the fourth quarter of 2008.

Gross margin on a non-GAAP basis in the first quarter of 2009 was 29.2%, compared to 32.9% in the year ago quarter, and 31.2% in the fourth quarter of 2008. The gross margin decline in the first quarter of 2009 was primarily attributed to the continued impact of the strengthening U.S. dollar. Non-GAAP operating margin was 3.7% in the first quarter of 2009, compared to 9.5% in the first quarter of 2008, and 5.6% in the fourth quarter of 2008. Non-GAAP net income was $0.05 per diluted share in the first quarter of 2009, compared to non-GAAP net income of $0.39 per diluted share in the first quarter of 2008, and $0.07 net loss per diluted share in the fourth quarter of 2008.

The differences between GAAP and non-GAAP financial measures include adjustments, net of any tax effect, for amortization of purchased intangibles, stock-based compensation, impairment of certain long-lived assets, restructuring, in-process research and development, acquisition related compensation and litigation reserves. Specifically excluded from non-GAAP income from operations in the first quarter of 2009 is $2.5 million in charges relating to three patent litigation settlements recently entered into by the Company. The accompanying schedules provide a reconciliation of financial measures computed on a GAAP basis to financial measures computed on a non-GAAP basis.

Patrick Lo, Chairman and Chief Executive Officer of NETGEAR, commented, "In the first quarter of 2009, as expected, we experienced continued weakening in the macroeconomic environment and end market demand. In light of this economic slowdown, we achieved net revenue of $152.0 million, a slight decline from the fourth quarter of 2008, but above our initial guidance of $135 million to $145 million. During the quarter, we experienced stabilization in consumer retail sales and an incremental decline in SMB sales. Product wise, we continued to see a strong market shift to 11n Wifi products. Our net revenue from service providers was approximately 27% of total net revenue, as compared to 18% in the fourth quarter of 2008, and 28% in the first quarter of 2008. We were pleased to add Telkom South Africa to our service provider customer list in the first quarter.

On the innovation front, we enjoyed significant success in the first quarter introducing 14 new products to the marketplace. Among the notable launches, we introduced ProSecure Web/Email Security Appliance STM150, High Performance 4 Bay Desktop Network Attached Storage ReadyNAS Xtra, High Power Hot Spot Access Points for service providers and 50 port Layer 3 10/100 stackable switch. Well received in the current market, we believe that the sales volume of these new products will ramp quickly in the coming quarters. In spite of the present economic environment, we are confident that with our winning combination of consistent innovation, variety in product offerings and focused channel programs, we will continue to gain on our competitors and further our market share."

Christine Gorjanc, Chief Financial Officer of NETGEAR, said, "We ended the first quarter of 2009 with $200.3 million in cash, cash equivalents and short-term investments, compared to $203.0 million at the end of the fourth quarter of 2008, and $200.8 million at the end of the first quarter of 2008. Our net inventory ended at $92.0 million, compared to $112.2 million at the end of the fourth quarter of 2008, and $97.6 million at the end of the first quarter of 2008. We expect our US and European distributors to continue to reduce their inventory in the second quarter. However, we anticipate that US retailers will increase their stock levels towards the end of the second quarter, in preparation for the back to school season beginning in mid-July."

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

Net revenue by geography: Three months ended March 29, December 31, March 30, 2009 2008 2008 North America $65,219 43% $68,845 43% $79,203 40% Europe, Middle-East and Africa 74,166 49% 76,685 47% 98,145 50% Asia Pacific 12,633 8% 15,829 10% 20,806 10% -------- ---- -------- ---- -------- ---- $152,018 100% $161,359 100% $198,154 100%

Looking ahead, Mr. Lo commented, "We expect end market demand will continue to be constrained in the second quarter, especially with the typical seasonal weakness. We anticipate that the reduction in distributors' channel inventory will continue. However, we foresee improvement of our gross margin in the second quarter 2009 due to our consistent efforts in product cost reduction and slight improvement in foreign currency pricing. For the second quarter 2009, we expect revenue in the range of approximately $135 million to $145 million and non-GAAP operating margin to be in the range of 3% to 5%."

Investor Conference Call / Webcast Details

NETGEAR will review the first quarter 2009 results and discuss management's expectations for the second quarter of 2009 today, Wednesday, April 22, 2009 at 5 p.m. EDT (2 p.m. PDT). The dial-in number for the live audio call is (201) 689-8560. A live webcast of the conference call will be available on NETGEAR's website at http://www.netgear.com/. A replay of the call will be available 2 hours following the call through midnight EDT (9 p.m. PDT) on Wednesday, April 29, 2009 by telephone at (201) 612-7415 and via the web at http://www.netgear.com/. The account number to access the phone replay is 3055 and the conference ID number is 319005.

About NETGEAR, Inc.

NETGEAR (NasdaqGM: NTGR) designs innovative, branded technology solutions that address the specific networking, storage, and security needs of small- to medium-sized businesses and home users. The company offers an end-to-end networking product portfolio to enable users to share Internet access, peripherals, files, multimedia content, and applications among multiple computers and other Internet-enabled devices. Products are built on a variety of proven technologies such as wireless, Ethernet and powerline, with a focus on reliability and ease-of-use. NETGEAR products are sold in over 29,000 retail locations around the globe, and via more than 41,000 value-added resellers. The company's headquarters are in San Jose, Calif., with additional offices in 25 countries. NETGEAR is an ENERGY STAR(R) partner. More information is available by visiting http://www.netgear.com/ or calling (408) 907-8000.

(C) 2009 NETGEAR, Inc. NETGEAR, the NETGEAR logo, ProSecure and ReadyNAS are registered trademarks of NETGEAR, Inc. in the United States and/or other countries. The information contained herein is subject to change without notice. NETGEAR shall not be liable for technical or editorial errors or omissions contained herein. All rights reserved.

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

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words "anticipate", "expect", "believe", "will", "may", "should", "estimate", "project", "outlook", "forecast" or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements represent NETGEAR, Inc.'s expectations or beliefs concerning future events based on information available at the time such statements were made and include statements, among others, regarding NETGEAR's expected revenue, earnings, gross and operating margin and operating income on both a GAAP and non-GAAP basis, the effect of the global economic environment on the company's business, the impact of implementing cost cutting measures to counteract the effects of the current economic environment, our ability to manage inventory and the extent to which our customers will reduce or increase inventory, the long term future of NETGEAR's business, our continued success in the SMB market, our ability to innovate, anticipated new product offerings, current and future demand for the Company's existing and anticipated new products, willingness of consumers to purchase and use the Company's products, and ability to increase distribution and market share for the Company's products domestically and worldwide. These statements are based on management's current expectations and are subject to certain risks and uncertainties, including, without limitation, the following: future demand for the Company's products may be lower than anticipated; consumers may choose not to adopt the Company's new product offerings or adopt competing products; product performance may be adversely affected by real world operating conditions; the Company may be unsuccessful or experience delays in manufacturing and distributing its new and existing products; telecommunications service providers may choose to slow their deployment of the Company's products or utilize competing products; the Company may be unable to collect receivables as they become due; the Company may fail to manage costs, including the cost of developing new products and manufacturing and distribution of its existing offerings; channel inventory information reported is estimated based on the average number of weeks of inventory on hand on the last Saturday of the quarter, as reported by certain of NETGEAR's customers; changes in the level of NETGEAR's cash resources and the company's planned usage of such resources, changes in the company's stock price and developments in the business that could increase the company's cash needs, fluctuations in foreign exchange rates, and the actions and financial health of our customers. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Further information on potential risk factors that could affect NETGEAR and its business are detailed in the Company's periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled "Part I - Item 1A. Risk Factors," pages 11 through 26, in the Company's Annual Report on Form 10-K for the year ended December 31, 2008, filed with the Securities and Exchange Commission on March 4, 2009. NETGEAR undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Use of Non-GAAP Financial Information:

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

-Financial Tables Attached- NETGEAR, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) March 29, December 31, 2009 2008 ---------- ------------ ASSETS Current assets: Cash and cash equivalents $190,218 $192,839 Short-term investments 10,080 10,170 Accounts receivable, net 127,984 138,275 Inventories 92,023 112,240 Deferred income taxes 13,222 13,129 Prepaid expenses and other current assets 20,615 22,695 ------- ------- Total current assets 454,142 489,348 Property and equipment, net 18,612 20,292 Intangibles, net 12,058 13,311 Goodwill 61,439 61,400 Other non-current assets 2,039 1,858 -------- -------- Total assets $548,290 $586,209 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $34,913 $60,073 Accrued employee compensation 6,247 7,177 Other accrued liabilities 74,793 87,747 Deferred revenue 19,375 21,508 ------- ------- Total current liabilities 135,328 176,505 Non-current income taxes payable 12,382 12,357 Other non-current liabilities 6,710 6,389 ------- ------- Total liabilities 154,420 195,251 Stockholders' equity Common stock 34 34 Additional paid-in capital 269,162 266,070 Cumulative other comprehensive income 32 67 Retained earnings 124,642 124,787 ------- ------- Total stockholders' equity 393,870 390,958 ------- ------- Total liabilities and stockholders' equity $548,290 $586,209 ======== ======== NETGEAR, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three months ended ------------------ March 29, December 31, March 30, 2009 2008 2008 --------- ------------ --------- Net revenue $152,018 $161,359 $198,154 Cost of revenue 109,087 112,900 134,291 ------- ------- ------- Gross profit 42,931 48,459 63,863 ------- ------- ------- Operating expenses: Research and development 7,353 8,184 8,738 Sales and marketing 25,902 27,247 33,028 General and administrative 8,237 8,495 7,313 Restructuring 676 965 - In-process research and development - 1,800 - Litigation reserves 2,532 575 51 ------ ------ ------ Total operating expenses 44,700 47,266 49,130 ------ ------ ------ Income (loss) from operations (1,769) 1,193 14,733 Interest income 304 808 1,512 Other income (expense), net 1,047 (6,560) 2,843 ----- ------ ----- Income (loss) before income taxes (418) (4,559) 19,088 Provision for (benefit from) income taxes (460) 2,784 7,862 ---- ----- ----- Net income (loss) $42 $(7,343) $11,226 === ======= ======= Net income (loss) per share: Basic $0.00 $(0.21) $0.32 ===== ====== ===== Diluted $0.00 $(0.21) $0.31 ===== ====== ===== Weighted average shares outstanding used to compute net income (loss) per share: Basic 34,351 34,780 35,316 ====== ====== ====== Diluted 34,602 34,780 35,941 ====== ====== ====== Stock-based compensation expense was allocated as follows: Cost of revenue $242 $207 $222 Research and development 520 719 801 Sales and marketing 1,055 842 847 General and administrative 1,099 885 928 NETGEAR, INC. NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Excluding amortization of purchased intangibles, stock-based compensation, impairment of certain long-lived assets, restructuring, in-process research and development, acquisition related compensation and litigation reserves, net of tax. (In thousands, except per share data) (Unaudited) Three months ended ------------------ March 29, December 31, March 30, 2009 2008 2008 -------- ----------- -------- Net revenue $152,018 $161,359 $198,154 Cost of revenue 107,592 110,978 132,886 ------- ------- ------- Gross profit 44,426 50,381 65,268 ------- ------- ------- Operating expenses: Research and development 6,833 7,365 7,879 Sales and marketing 24,847 26,405 32,181 General and administrative 7,138 7,610 6,385 ------ ------ ------ Total operating expenses 38,818 41,380 46,445 ------ ------ ------ Income from operations 5,608 9,001 18,823 Interest income 304 808 1,512 Other income (expense), net 1,047 (6,560) 2,843 ----- ------ ----- Income before income taxes 6,959 3,249 23,178 Provision for income taxes 5,113 5,756 9,074 ----- ----- ----- Net income (loss) $1,846 $(2,507) $14,104 ====== ======= ======= Net income (loss) per share: Basic $0.05 $(0.07) $0.40 ===== ====== ===== Diluted $0.05 $(0.07) $0.39 ===== ====== ===== Weighted average shares outstanding used to compute net income (loss) per share: Basic 34,351 34,780 35,316 ====== ====== ====== Diluted 34,602 34,780 35,941 ====== ====== ====== NETGEAR, INC. RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES (In thousands, except per share data) (Unaudited) STATEMENT OF OPERATIONS DATA: Three months ended ------------------ March 29, December 31, March 30, 2009 2008 2008 -------- ----------- -------- GAAP gross profit $42,931 $48,459 $63,863 Amortization of intangible assets 1,253 1,108 1,183 Stock-based compensation expense 242 207 222 Impairment of long-lived assets - 607 - - --- - Non-GAAP gross profit $44,426 $50,381 $65,268 ======= ======= ======= Non-GAAP gross margin 29.2% 31.2% 32.9% GAAP research and development $7,353 $8,184 $8,738 Stock-based compensation expense (520) (719) (801) Acquisition related compensation - (100) (58) ------ ------ ------ Non-GAAP research and development $6,833 $7,365 $7,879 ====== ====== ====== GAAP sales and marketing $25,902 $27,247 $33,028 Stock-based compensation expense (1,055) (842) (847) ------ ---- ---- Non-GAAP sales and marketing $24,847 $26,405 $32,181 ======= ======= ======= GAAP general and administrative $8,237 $8,495 $7,313 Stock-based compensation expense (1,099) (885) (928) ------ ---- ---- Non-GAAP general and administrative $7,138 $7,610 $6,385 ====== ====== ====== GAAP total operating expenses $44,700 $47,266 $49,130 Stock-based compensation expense (2,674) (2,446) (2,576) Restructuring (676) (965) - In-process research and development - (1,800) - Acquisition related compensation - (100) (58) Litigation reserves (2,532) (575) (51) ------ ------ ------ Non-GAAP total operating expenses $38,818 $41,380 $46,445 ======= ======= ======= NETGEAR, INC. RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES (CONTINUED) (In thousands, except per share data) (Unaudited) STATEMENT OF OPERATIONS DATA (CONTINUED): Three months ended ------------------ March December March 29, 31, 30, 2009 2008 2008 ------ -------- ------ GAAP operating income (loss) $(1,769) $1,193 $14,733 Amortization of intangible assets 1,253 1,108 1,183 Stock-based compensation expense 2,916 2,653 2,798 Impairment of long-lived assets - 607 - Restructuring 676 965 - In-process research and development - 1,800 - Acquisition related compensation - 100 58 Litigation reserves 2,532 575 51 ----- ----- ------ Non-GAAP operating income $5,608 $9,001 $18,823 ====== ====== ======= Non-GAAP operating margin 3.7% 5.6% 9.5% GAAP net income (loss) $42 $(7,343) $11,226 Amortization of intangible assets 1,253 1,108 1,183 Stock-based compensation expense 2,916 2,653 2,798 Impairment of long-lived assets - 607 - Restructuring 676 965 - In-process research and development - 1,800 - Acquisition related compensation - 100 58 Litigation reserves 2,532 575 51 Tax effect (5,573) (2,972) (1,212) ------ ------ ------ Non-GAAP net income (loss) $1,846 $(2,507) $14,104 ====== ======= ======= NET INCOME PER SHARE: Three months ended ------------------ March December March 29, 31, 30, 2009 2008 2008 ----- -------- ----- GAAP net income (loss) per diluted share $0.00 $(0.21) $0.31 Amortization of intangible assets 0.04 0.03 0.03 Stock-based compensation expense 0.08 0.08 0.08 Impairment of long-lived assets - 0.02 - Restructuring 0.02 0.03 - In-process research and development - 0.05 - Acquisition related compensation - 0.00 0.00 Litigation reserves 0.07 0.02 0.00 Tax effect (0.16) (0.09) (0.03) ----- ----- ----- Non-GAAP net income (loss) per diluted share $0.05 $(0.07) $0.39 ===== ====== ===== NETGEAR, INC. SUPPLEMENTAL FINANCIAL INFORMATION (In thousands, except per share data) (Unaudited) Three months ended ------------------ March December September June March 29, 31, 28, 29, 30, 2009 2008 2008 2008 2008 ------- ------- -------- ------- -------- Cash, cash equivalents and short-term investments $200,298 $203,009 $202,187 $186,828 $200,793 Cash, cash equivalents and short-term investments per diluted share $5.79 $5.84 $5.66 $5.22 $5.59 Accounts receivable, net $127,984 $138,275 $150,552 $159,039 $155,843 Days sales outstanding (DSO) 74 81 76 71 71 Inventories $92,023 $112,240 $125,711 $106,387 $97,604 Ending inventory turns 4.7 4.0 3.7 5.2 5.5 Weeks of channel inventory: U.S. retail channel 10.0 9.6 11.4 13.6 10.0 U.S. distribution channel 5.4 5.2 5.5 5.1 4.3 EMEA distribution channel 5.6 5.7 5.1 6.0 5.7 APAC distribution channel 5.7 6.7 7.2 6.0 4.7 Deferred revenue $19,375 $21,508 $13,346 $4,339 $7,453 Headcount 568 579 568 563 565 Weighted average diluted shares 34,602 34,780 35,721 35,792 35,941 Contact: Joseph Villalta The Ruth Group (646) 536-7003 jvillalta@theruthgroup.com

NETGEAR, Inc.

CONTACT: Joseph Villalta, The Ruth Group, +1-646-536-7003,
jvillalta@theruthgroup.com

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

Amdocs Limited Reports Quarterly Revenue of $711 MillionKey highlights:- Second quarter revenue of $711 million, in-line with guidance of $700-$720 million- Second quarter non-GAAP operating income of $128 million; non-GAAP operating margin of 18.0%; GAAP operating income of $96 million- Second quarter diluted non-GAAP EPS of $0.50, excluding acquisition-related costs and equity-based compensation expense, net of related tax effects, in-line with guidance- Diluted GAAP EPS of $0.39 for the quarter- Free cash flow of $62 million for the quarter; included in the calculation of second quarter free cash flow was $52 million in annual employee bonus payments- 12-month backlog of $2.37 billion at the end of the second quarter- Third quarter fiscal 2009 guidance: Expected revenue of approximately $670-$690 million and diluted non-GAAP EPS of $0.46-$0.50, excluding acquisition-related costs and approximately $0.04-$0.05 per share of equity-based compensation expense, net of related tax effects. Diluted GAAP EPS is expected to be approximately $0.33-$0.38

ST. LOUIS, April 22 /PRNewswire-FirstCall/ -- Amdocs Limited today reported that for its fiscal second quarter ended March 31, 2009, revenue was $711.1 million, a decrease of 8.2% from last year's second quarter. Net income on a non-GAAP basis was $104.9 million, or $0.50 per diluted share, compared to non-GAAP net income of $126.6 million, or $0.58 per diluted share, in the second quarter of fiscal 2008. Non-GAAP net income excludes amortization of purchased intangible assets and equity-based compensation expenses of $24.2 million, net of related tax effects, in the second quarter of fiscal 2009 and excludes such amortization and equity-based compensation expenses of $26.8 million, net of related tax effects, in the second quarter of fiscal 2008. The Company's GAAP net income for the second quarter of fiscal 2009 was $80.6 million, or $0.39 per diluted share, compared to GAAP net income of $99.9 million, or $0.46 per diluted share, in the prior year's second quarter.

"In the second quarter of fiscal 2009 difficult economic conditions continued to impact our customers' buying decisions. Sales cycles remained extended, particularly for larger, transformational projects, and certain customers delayed commitments for new projects. We had anticipated operating in a difficult environment during the quarter and are pleased with our execution in sales, cost control and cash collections. Our second quarter revenue of $711 million and diluted non-GAAP earnings per share of $0.50 were in-line with our guidance, and we delivered on our 18% non-GAAP operating margin target for the quarter," said Dov Baharav, chief executive officer of Amdocs Management Limited.

Baharav continued, "For the third quarter of fiscal 2009, Amdocs expects that revenue will be approximately $670-$690 million as we anticipate on-going weakness in the economic environment. We are managing our expenses under the assumption that revenue for the year could be down 10%-12% relative to fiscal year 2008, with foreign currency effects contributing roughly 3% of the decline. While we cannot yet provide a precise range for our fourth quarter revenue expectations, at this time we believe that fourth quarter revenue is likely to decline sequentially from third quarter levels."

Baharav concluded, "While these are difficult times for our industry and for Amdocs, we signed a number of important deals in the second quarter which position us well with some key customers. We are managing expenses to protect profitability and cash flow and we are investing in our future, including in R&D, so that we can continue to provide the best products and services to our industry. We believe we are well-positioned for growth when economic conditions improve."

In the second quarter Amdocs won new business with existing customers and new logos. These wins include new business in each of Amdocs' four focus areas for growth: cable/satellite, managed services, emerging markets and OSS, including the examples below.

Cable/satellite -- Amdocs signed a transformational BSS project based on the CES 7.5 portfolio with a major satellite provider in Asia-Pacific spanning billing, ordering, CRM, self-service and partner relationship management. Managed Services -- Clearwire selected Amdocs for a multi-year agreement for the license and implementation of Amdocs CES 7.5 products and managed services to support Clearwire's retail and wholesale business. Emerging markets and OSS -- Instituto Costarricense de Electricidad (ICE), Costa Rica's national service provider of telecommunications, will implement Amdocs OSS 7.5 to support ICE's OSS needs, including planning, inventory and discovery, provisioning and activation, trouble ticketing, service fulfillment and service impact analysis. -- A mobile operator in Asia-Pacific selected Amdocs OSS to support its GSM network. -- Amdocs signed a new wireless customer in Africa for a pre-paid billing solution.

Additionally, in North America, Amdocs won a significant new Amdocs Interactive project to support a wireless customer's on-portal digital content storefront including content management, commerce, discovery, and delivery, as well as a billing consolidation project for an existing wireline customer.

Free cash flow was $62 million for the quarter, comprised of cash flow from operations of $80 million less approximately $18 million in net capital expenditures and other. Included in the calculation of second quarter free cash flow was $52 million in annual employee bonus payments.

Twelve-month backlog, which includes anticipated revenue related to contracts, estimated revenue from managed services contracts, letters of intent, maintenance and estimated on-going support activities, was $2.37 billion at the end of the second quarter of fiscal 2009.

Financial Outlook

Amdocs expects that revenue for the third quarter of fiscal 2009 will be approximately $670-$690 million. Amdocs expects diluted earnings per share on a non-GAAP basis for the third quarter to be $0.46-$0.50, excluding acquisition-related costs and approximately $0.04-$0.05 per share of equity-based compensation expense, net of related tax effects. Amdocs estimates GAAP diluted earnings per share for the third quarter will be $0.33-$0.38.

Amdocs will host a conference call on April 22, 2009 at 5 p.m. Eastern Time to discuss the Company's second quarter results. The call will be carried live on the Internet via http://www.investorcalendar.com/ and the Amdocs website, http://www.amdocs.com/.

Non-GAAP Financial Measures

This release includes non-GAAP diluted earnings per share and other non-GAAP financial measures, including free cash flow, non-GAAP cost of service, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP income taxes and non-GAAP net income. These non-GAAP measures exclude the following items:

-- amortization of purchased intangible assets; -- in-process research and development write-off; -- restructuring charges; -- equity-based compensation expense; and -- tax effects related to the above.

These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Amdocs believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Amdocs' results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Amdocs' results of operations in conjunction with the corresponding GAAP measures.

Amdocs believes that the presentation of non-GAAP diluted earnings per share and other financial measures, including free cash flow, non-GAAP cost of service, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP income taxes and non-GAAP net income, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and results of operations, as well as the net amount of cash generated by its business operations after taking into account capital spending required to maintain or expand the business.

For its internal budgeting process and in monitoring the results of the business, Amdocs' management uses financial statements that do not include amortization of purchased intangible assets, in-process research and development write-off, restructuring charges, equity-based compensation expense, and related tax effects. Amdocs' management also uses the foregoing non-GAAP financial measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Amdocs. In addition, Amdocs believes that significant groups of investors exclude these non-cash expenses in reviewing its results and those of its competitors, because the amounts of the expenses between companies can vary greatly depending on the assumptions used by an individual company in determining the amounts of the expenses.

Amdocs further believes that, where the adjustments used in calculating non-GAAP diluted earnings per share are based on specific, identified amounts that impact different line items in the Consolidated Statements of Income (including cost of service, research and development, selling, general and administrative, operating income, income taxes and net income), it is useful to investors to understand how these specific line items in the Consolidated Statements of Income are affected by these adjustments.

Please refer to the Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP tables below.

About Amdocs

Amdocs is the market leader in customer experience systems innovation, enabling world-leading service providers to deliver an integrated, innovative and the intentional customer experience(TM) - at every point of service. Amdocs provides solutions that deliver customer experience excellence, combining the software, service and expertise to help its customers execute their strategies and achieve service, operational and financial excellence. A global company with revenue of $3.16 billion in fiscal 2008, Amdocs has more than 17,000 employees and serves customers in more than 50 countries around the world. For more information, visit Amdocs at http://www.amdocs.com/.

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs ability to grow in the business markets that it serves, Amdocs ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2008 filed on December 8, 2008 and in our quarterly 6-K furnished on February 9, 2009.

AMDOCS LIMITED Consolidated Statements of Income (in thousands, except per share data) Three months ended Six months ended March 31, March 31, ------------------------------------------ 2009 2008 2009 2008 -------- -------- ---------- ---------- Revenue: License $ 37,203 $ 32,109 $ 81,804 $ 58,326 Service 673,881 742,172 1,383,119 1,458,205 -------- -------- ---------- ---------- 711,084 774,281 1,464,923 1,516,531 Operating expenses: Cost of license 569 938 1,560 1,712 Cost of service 455,997 493,956 940,048 964,697 Research and development 52,750 56,088 108,979 112,103 Selling, general and administrative 84,308 98,666 174,573 196,331 Amortization of purchased intangible assets 21,501 21,753 41,755 43,506 Restructuring charges and in-process research and development (1) - - 20,780 - -------- -------- ---------- ---------- 615,125 671,401 1,287,695 1,318,349 -------- -------- ---------- ---------- Operating income 95,959 102,880 177,228 198,182 Interest (expense) income and other, net (5,763) 8,822 (3,528) 17,638 -------- -------- ---------- ---------- Income before income taxes 90,196 111,702 173,700 215,820 Income taxes 9,566 11,843 18,823 20,297 -------- -------- ---------- ---------- Net income $ 80,630 $ 99,859 $ 154,877 $ 195,523 ======== ======== ========== ========== Basic earnings per share $ 0.40 $ 0.48 $ 0.76 $ 0.94 ======== ======== ========== ========== Diluted earnings per share(2) $ 0.39 $ 0.46 $ 0.74 $ 0.89 ======== ======== ========== ========== Basic weighted average number of shares outstanding 202,671 206,759 202,561 207,437 ======== ======== ========== ========== Diluted weighted average number of shares outstanding 209,755 219,786 211,013 220,912 ======== ======== ========== ========== (1) Restructuring charges and in-process research and development for the six months ended March 31, 2009 includes restructuring charges of $15,140, and in-process research and development of $5,640. (2) To reflect the impact of assumed conversion of the convertible notes, $622 and $1,486 representing interest expense and amortization of issuance costs, were added back to net income for the three and six months ended March 31, 2009, respectively, and $985 and $1,970 were added back to net income for the three and six months ended March 31, 2008, respectively, for the purpose of computing diluted earnings per share. AMDOCS LIMITED Selected Financial Metrics (in thousands, except per share data) Three months ended Six months ended March 31, March 31, ------------------ ---------------------- 2009 2008 2009 2008 -------- -------- ---------- ---------- Revenue $711,084 $774,281 $1,464,923 $1,516,531 Non-GAAP operating income 127,977 138,046 263,697 269,317 Non-GAAP net income 104,875 126,647 221,125 249,937 Non-GAAP diluted earnings per share (1) $ 0.50 $ 0.58 $ 1.05 $ 1.14 Diluted weighted average number of shares outstanding 209,755 219,786 211,013 220,912 (1) To reflect the impact of assumed conversion of the convertible notes, $622 and $1,486 representing interest expense and amortization of issuance costs, were added back to net income for the three and six months ended March 31, 2009, respectively, and $985 and $1,970 were added back to net income for the three and six months ended March 31, 2008, respectively, for the purpose of computing diluted earnings per share. AMDOCS LIMITED Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP (in thousands) Three months ended March 31, 2009 ------------------------------------------------------- Reconciliation items ---------------------------------- Amortization of purchased Equity based intangible compensation Tax GAAP assets expense effect Non-GAAP ------------------------------------------------------ Operating expenses: Cost of license $ 569 $ - $ - $ - $ 569 Cost of service 455,997 - (4,950) - 451,047 Research and development 52,750 - (977) - 51,773 Selling, general and administrative 84,308 - (4,590) - 79,718 Amortization of purchased intangible assets 21,501 (21,501) - - - ------------------------------------------------------ Total operating expenses 615,125 (21,501) (10,517) - 583,107 ------------------------------------------------------ Operating income 95,959 21,501 10,517 - 127,977 ------------------------------------------------------ Income taxes 9,566 - - 7,773 17,339 ------------------------------------------------------ Net income $ 80,630 $21,501 $10,517 $(7,773) $104,875 ------------------------------------------------------ Three months ended March 31, 2008 ------------------------------------------------------- Reconciliation items ----------------------------------- Amortization of purchased Equity based intangible compensation Tax GAAP assets expense effect Non-GAAP ------------------------------------------------------- Operating expenses: Cost of license $ 938 $ - $ - $ - $ 938 Cost of service 493,956 - (5,431) - 488,525 Research and development 56,088 - (1,146) - 54,942 Selling, general and administrative 98,666 - (6,836) - 91,830 Amortization of purchased intangible assets 21,753 (21,753) - - - ------------------------------------------------------- Total operating expenses 671,401 (21,753) (13,413) - 636,235 ------------------------------------------------------- Operating income 102,880 21,753 13,413 - 138,046 ------------------------------------------------------- Income taxes 11,843 - - 8,378 20,221 ------------------------------------------------------- Net income $ 99,859 $21,753 $13,413 $ (8,378) $126,647 ------------------------------------------------------- AMDOCS LIMITED Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP (in thousands) Six months ended March 31, 2009 ---------------------------------------------------------- Reconciliation items --------------------------------------- Amortization Restructuring of charges and purchased in-process Equity based intangible research and compensation Tax Non- GAAP assets development expense effect GAAP ---------------------------------------------------------- Operating expenses: Cost of license $ 1,560 $ - $ - $ - $ - $ 1,560 Cost of service 940,048 - - (10,661) - 929,387 Research and development 108,979 - - (2,039) - 106,940 Selling, general and administrative 174,573 - - (11,234) - 163,339 Amortization of purchased intangible assets 41,755 (41,755) - - - - Restructuring charges and in-process research and development 20,780 - (20,780) - - - ---------------------------------------------------------- Total operating expenses 1,287,695 (41,755) (20,780) (23,934) - 1,201,226 ---------------------------------------------------------- Operating income 177,228 41,755 20,780 23,934 - 263,697 ---------------------------------------------------------- Income taxes 18,823 - - - 20,221 39,044 ---------------------------------------------------------- Net income $154,877 $41,755 $20,780 $23,934 $(20,221) $221,125 ---------------------------------------------------------- Six months ended March 31, 2008 ------------------------------------------------------- Reconciliation items ----------------------------------- Amortization of purchased Equity based intangible compensation Tax GAAP assets expense effect Non-GAAP -------------------------------------------------------- Operating expenses: Cost of license $ 1,712 $ - $ - $ - $ 1,712 Cost of service 964,697 - (11,713) - 952,984 Research and development 112,103 - (2,522) - 109,581 Selling, general and administrative 196,331 - (13,394) - 182,937 Amortization of purchased intangible assets 43,506 (43,506) - - - -------------------------------------------------------- Total operating expenses 1,318,349 (43,506) (27,629) - 1,247,214 -------------------------------------------------------- Operating income 198,182 43,506 27,629 - 269,317 -------------------------------------------------------- Income taxes 20,297 - - 16,721 37,018 -------------------------------------------------------- Net income $ 195,523 $43,506 $27,629 $(16,721) $ 249,937 -------------------------------------------------------- AMDOCS LIMITED Condensed Consolidated Balance Sheets (in thousands) As of ------------------------- March 31, September 30, 2009 2008 ---------- ------------ ASSETS Current assets Cash, cash equivalents and short-term interest-bearing investments $1,334,856 $1,244,378 Accounts receivable, net, including unbilled of $42,323 and $48,264 respectively 506,685 573,764 Deferred income taxes and taxes receivable 98,843 84,515 Prepaid expenses and other current assets 96,371 102,930 ---------- ---------- Total current assets 2,036,755 2,005,587 Equipment and leasehold improvements, net 292,261 317,081 Goodwill and other intangible assets, net 1,809,335 1,796,922 Other noncurrent assets 426,361 459,473 ---------- ---------- Total assets $4,564,712 $4,579,063 ========== ========== LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable and accruals $ 525,917 $ 600,285 Short-term portion of financing arrangements 3,660 1,660 Deferred revenue 155,553 197,851 Deferred income taxes and taxes payable 31,265 30,228 ---------- ---------- Total current liabilities 716,395 830,024 0.50% Convertible notes 1,020 450,000 Long-term loan 450,000 - Noncurrent liabilities and other 439,651 493,848 Shareholders' equity 2,957,646 2,805,191 ---------- ---------- Total liabilities and shareholders' equity $4,564,712 $4,579,063 ========== ========== AMDOCS LIMITED Consolidated Statements of Cash Flows (in thousands) Six months ended March 31, ------------------------- 2009 2008 -------- -------- Cash Flow from Operating Activities: Net income $154,877 $195,523 Reconciliation of net income to net cash provided by operating activities: Depreciation and amortization 98,491 94,202 In-process research and development 5,640 - Loss on sale of equipment - 65 Equity-based compensation expense 23,934 27,629 Deferred income taxes 11,258 (4,255) Gain on repurchase of convertible notes (2,185) - Excess tax benefit from equity-based compensation (2) (87) Loss from short-term interest-bearing investments 4,991 1,755 Net changes in operating assets and liabilities, net of amounts acquired: Accounts receivable 67,244 (125,634) Prepaid expenses and other current assets 5,905 (4,624) Other noncurrent assets 21,725 (24,963) Accounts payable, accrued expenses and accrued personnel (61,315) (11,079) Deferred revenue (49,005) 30,817 Income taxes payable (15,932) (4,694) Noncurrent liabilities and other (44,027) 15,790 -------- -------- Net cash provided by operating activities 221,599 190,445 -------- -------- Cash Flow from Investing Activities: Proceeds from sale of equipment and leasehold improvements 340 673 Payments for purchase of equipment and leasehold improvements (47,818) (69,126) Proceeds from sale of short-term interest-bearing investments 323,234 360,297 Purchase of short-term interest-bearing investments (376,579) (301,260) Net cash paid for acquisition (61,855) (9,242) -------- -------- Net cash used in investing activities (162,678) (18,658) -------- -------- Cash Flow from Financing Activities: Borrowing under long-term financing arrangements 450,000 - Redemption of convertible notes (330,780) - Repurchase of convertible notes (116,015) - Repurchase of shares (20,014) (122,441) Proceeds from employee stock options exercised 1,797 15,736 Borrowing under short-term financing arrangements 540 - Payments under capital lease financing arrangements (950) - Excess tax benefit from equity-based compensation 2 87 -------- -------- Net cash used in financing activities (15,420) (106,618) -------- -------- Net increase in cash and cash equivalents 43,501 65,169 Cash and cash equivalents at beginning of period 718,850 615,501 -------- -------- Cash and cash equivalents at end of period $762,351 $680,670 ======== ======== AMDOCS LIMITED Supplementary Information (in millions) ------------------------------------------------------- Three months ended ------------------------------------------------------- March 31, December 31, September 30, June 30, March 31, 2009 2008 2008 2008 2008 --------- ------------ ------------- -------- --------- North America $539.8 $561.6 $558.7 $570.5 $541.5 Europe 105.0 111.4 150.9 133.0 135.8 Rest of World 66.3 80.8 115.7 116.8 97.0 --------- ------------ ------------- -------- --------- Total Revenue $711.1 $753.8 $825.3 $820.3 $774.3 ========= ============ ============= ======== ========= ------------------------------------------------------- Three months ended ------------------------------------------------------- March 31, December 31, September 30, June 30, March 31, 2009 2008 2008 2008 2008 --------- ------------ ------------- -------- --------- Customer Experience Systems $668.0 $701.0 $756.5 $756.9 $708.2 Directory 43.1 52.8 68.8 63.4 66.1 --------- ------------ ------------- -------- --------- Total Revenue $711.1 $753.8 $825.3 $820.3 $774.3 ========= ============ ============= ======== ========= ------------------------------------------------------- As of ------------------------------------------------------- March 31, December 31, September 30, June 30, March 31, 2009 2008 2008 2008 2008 --------- ------------ ------------- -------- --------- 12-Month Backlog $2,370 $2,400 $2,420 $2,420 $2,360 --------- ------------ ------------- -------- ---------

Amdocs Limited

CONTACT: Thomas G. O'Brien, Treasurer and Vice President of Investor
Relations, Amdocs Limited, +1-314-212-8328, E-mail: dox_info@amdocs.com

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

Los Angeles County, California Residents Learn the 'Smarts' of Their SmartphoneVerizon Wireless hosts free advanced device workshops for customers throughout the county

IRVINE, Calif., April 22 /PRNewswire/ -- You have the latest all-in-one wireless device from Verizon Wireless. Now you want to learn how to use it most effectively. The solution? Free, hands-on training. Verizon Wireless is offering workshops at several of its Communications Stores in Los Angeles County for users of smartphones and advanced devices like the Blackberry Storm.

The workshops are designed to better acquaint smartphone owners with the capabilities of their advanced devices and provide hands-on instruction on how to use the features they find most helpful.

Topics covered Attendees can learn about a variety of topics, including how to: -- Text message -- Set up your speed-dial -- Synch with your address book -- Send e-mail -- Browse the Internet -- Use the camera -- Use Bluetooth and other accessories -- Change your ringtone How to participate

Registration is not required. The event is open to Verizon Wireless customers and other smartphone users. Customers who do not yet have an advanced device but would like to learn more about these devices are also welcome to attend. The workshops are part of Verizon Wireless' extensive suite of in-store services for users of advanced devices.

Can't make it to the workshop?

We still have you covered. Customers who are unable to attend an in-store event can attend an Internet-based instructional class to learn about their new device. Please visit http://www.verizonwireless.com/learning to register.

Los Angeles County workshop schedule Burbank Thursday, April 30, 2009 5pm-7pm Compton Thursday, April 30, 2009 2pm-4pm Glendora Thursday, April 30, 2009 5pm-7pm Golden Valley Ranch Thursday, April 30, 2009 5pm-7pm Hawthorne Thursday, April 30, 2009 4pm-6pm Lakewood Candlewood Thursday, April 30, 2009 5pm-7pm Lancaster Thursday, April 30, 2009 5pm-7pm Marina Del Rey Thursday, April 30, 2009 5pm-7pm Pico Rivera Thursday, April 30, 2009 5pm-7pm Porter Ranch Thursday, April 30, 2009 4pm-7pm Southgate Thursday, April 30, 2009 4pm-8pm Torrance Thursday, April 30, 2009 4pm-6pm WestCo Mall Thursday, April 30, 2009 5pm-7pm 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: Ken Muche of Verizon Wireless, +1-949-286-8193,
Ken.Muche@VerizonWireless.com

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

San Diego County, California Residents Learn the 'Smarts' of Their SmartphoneVerizon Wireless hosts free advanced device workshops for customers throughout the county

IRVINE, Calif., April 22 /PRNewswire/ -- You have the latest all-in-one wireless device from Verizon Wireless. Now you want to learn how to use it most effectively. The solution? Free, hands-on training. Verizon Wireless is offering workshops at several of its Communications Stores in San Diego County for users of smartphones and advanced devices like the Blackberry Storm.

The workshops are designed to better acquaint smartphone owners with the capabilities of their advanced devices and provide hands-on instruction on how to use the features they find most helpful.

Topics covered Attendees can learn about a variety of topics, including how to: -- Text message -- Set up your speed-dial -- Synch with your address book -- Send e-mail -- Browse the Internet -- Use the camera -- Use Bluetooth and other accessories -- Change your ringtone How to participate

Registration is not required. The event is open to Verizon Wireless customers and other smartphone users. Customers who do not yet have an advanced device but would like to learn more about these devices are also welcome to attend. The workshops are part of Verizon Wireless' extensive suite of in-store services for users of advanced devices.

Can't make it to the workshop?

We still have you covered. Customers who are unable to attend an in-store event can attend an Internet-based instructional class to learn about their new device. Please visit http://www.verizonwireless.com/learning to register.

San Diego County workshop schedule Encinitas Thursday, April 30, 2009 5pm-7pm Escondido Thursday, April 30, 2009 5pm-7pm Mission Valley Thursday, April 30, 2009 5pm-7pm 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: Ken Muche of Verizon Wireless, +1-949-286-8193,
Ken.Muche@VerizonWireless.com

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

Overstock.com Announces Winner of March $10,000 Family Bailout SweepstakesPlans to Continue Monthly Sweepstakes Through December 2009

SALT LAKE CITY, April 22 /PRNewswire-FirstCall/ -- Overstock.com, Inc. announced today that Bonnie Willis of Benkelman, Nebraska has won the March 2009 $10,000 Family Bailout Sweepstakes. Overstock.com will pay the $10,000 directly to one or more of Willis' qualified creditors.

(Logo: http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a)

Willis lives with her husband and three daughters. She works as a cafeteria manager at a local school, and will use at least some of the money to pay medical bills.

Overstock.com Chairman and CEO Patrick Byrne said, "With such a great response from our March $10,000 Family Bailout Sweepstakes, we wanted to continue to try to help during the months ahead. We plan to continue this $10,000 sweepstakes every month through December of 2009."

Approximately 250,000 people entered the March sweepstakes. Willis was selected as the winner according to contest rules. No purchase is necessary for eligibility. To enter go to http://www.overstock.com/familybailout. Additionally, shoppers will have the choice to opt-in to the contest when purchasing items through Overstock.com.

"It's great that we can help out the Willis family," said Byrne. "They are hard-working Americans and we hope this $10,000 will give them a needed boost."

In January of this year Overstock.com created the Family Bailout plan in order to give Overstock.com visitors the chance to pay off their mortgage, credit cards, or other large debts.

"This money will give me and my family some much needed relief during these trying times," said Willis. "Thank you, Overstock.com!"

About Overstock.com

Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com/. Overstock.com regularly posts information about the company and other related matters on its website under the heading "Investor Relations."

Overstock.com(R) is a registered trademark of Overstock.com, Inc.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding how the prize will be used, the number of months that the company will run this or similar sweepstakes, and the types of debts on which future winners may use sweepstakes proceeds. Our Form 10-K/A for the year ended December 31, 2008, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.

Photo: http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Overstock.com, Inc.

CONTACT: Media, Roger Johnson, +1-801-947-4430, rojohnson@overstock.com,
or Investors, Kevin Moon, +1-801-947-3282, kmoon@overstock.com, both of
Overstock.com, Inc.

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

Johnson Controls Moves Up in the FORTUNE 500

MILWAUKEE, April 22 /PRNewswire/ -- Johnson Controls saw its ranking increase to number 58 in this year's just-released FORTUNE 500, up from number 72 in 2008 and its highest ranking ever on this list. The rankings were released this week in the May 4 issue of FORTUNE magazine, and marks Johnson Controls' 32nd consecutive FORTUNE 500 appearance since 1978.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081030/AQTH055ALOGO)

"It is an honor to once again receive this ranking, a reflection of the solid focus of our 140,000 employees around the world on providing long-term value to our customers. Many thanks to them for their dedication, commitment and contributions," said Stephen A. Roell, Chairman and CEO, Johnson Controls.

The Fortune 500 listing is based on financial statements filed by U.S. incorporated companies filed with a U.S. government agency. This includes private companies and cooperatives that file a 10-K and mutual insurance companies that file with state regulators. Excluded are private companies not filing with a government agency; companies incorporated outside the U.S.; companies owned or controlled by other U.S. companies that file with a government agency; and U.S. companies owned or controlled by foreign companies.

About Johnson Controls Inc.

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 F. 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 Inc.

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

SED International Initiates Trading on the OTC Bulletin Board

TUCKER, Ga., April 22 /PRNewswire-FirstCall/ -- SED International Holdings, Inc. (BULLETIN BOARD: SECX) , a multinational supply chain management provider and distributor of leading computer technology, wireless communications and consumer electronics, today announced that its common stock has commenced trading on the Over-The-Counter Bulletin Board under the ticker symbol "SECX."

"Moving onto the OTCBB from the Pink Sheets is an important corporate milestone for SED and marks a key step forward in our efforts to provide our shareholders and prospective investors with an efficient trading platform for our common shares," stated Jean Diamond, Chairman and CEO of SED.

ABOUT SED INTERNATIONAL HOLDINGS, INC.

Founded in 1980, SED International Holdings, Inc. is a multinational, preferred distributor of leading computer technology, wireless communications and consumer electronics products. The Company also offers custom-tailored supply chain management services ideally suited to meet the priorities and distribution requirements of the e-commerce, Business-to-Business and Business-to-Consumer markets. Headquartered near Atlanta, Georgia with business operations in California; Florida; Georgia; Texas; Bogota, Colombia and Buenos Aires, Argentina, SED serves a customer base of over 10,000 channel partners and retailers in the U.S. and Latin America. To learn more, please visit http://www.sedonline.com/.

Statements made in this Press Release that are not historical or current facts are "forward-looking statements." These statements often can be identified by the use of terms such as "may," "will," "expect," "believes," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond the control of the Company that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. These factors include adverse economic conditions, entry of new and stronger competitors, inadequate capital, unexpected costs, failure to gain product approval in foreign countries and failure to capitalize upon access to new markets. The Company disclaims any obligation to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. These factors and others are discussed in the "Management's Discussion and Analysis" section of the Company's Reports on Form 10-K for the fiscal year ended June 30, 2008 and Form 10-Q for the quarter ended December 31, 2008.

FOR MORE INFORMATION, PLEASE CONTACT Elite Financial Communications Group, LLC Dodi Handy, President and CEO Tiffany Korkis or Kathy Addison, Directors of Elite Media Group 407-585-1080 or via email at SECX@efcg.net

SED International Holdings, Inc.

CONTACT: Dodi Handy, President and CEO, or Tiffany Korkis or Kathy
Addison, Directors of Elite Media Group, +1-407-585-1080, SECX@efcg.net, all
of Elite Financial Communications Group, LLC

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

Onstream Media Announces Recent Developments

POMPANO BEACH, Fla., April 22 /PRNewswire-FirstCall/ -- Onstream Media Corporation , a leading online service provider of live and on-demand digital media communications and applications, today announced several recent corporate developments, including new financing, subsequent developments connected with the Company's previous termination of the agreement to acquire Narrowstep, Inc., and an update with respect to NASDAQ compliance matters.

Financing

On April 20, 2009, the Company filed a Form 8-K with the SEC announcing the complete terms of its recent receipt of $750,000 loaned under an agreement which allows for total borrowings of up to $1.0 million. The loan is repayable in equal monthly installments commencing May 14, 2009 and extending over two years, which installments include principal (except for a $250,000 balloon payable at the end of the two year period, of which the balloon payment is also convertible into restricted ONSM common shares under certain circumstances) plus interest (at 12% per annum) on the remaining unpaid balance. The agreement also provides that the lender may receive an origination fee of 1,500,000 restricted ONSM common shares, with the value of those shares subject to a limited guaranty, but only in the event the Company borrows amounts in excess of the original $750,000, of no more than an additional payment of $75,000.

Mr. Randy Selman, Onstream's President and CEO, stated, "We were pleased to obtain this additional working capital, which among other things will allow us to make certain investments in infrastructure that will in turn reduce our ongoing operating expenses and facilitate the expected growth of our iEncode product. We bid this financing out to several potential lenders, and selected the most competitive response. We believe that the terms were reasonable, especially in light of the recent constriction of the business lending market in general and the fact that this particular debt is fully subordinated to our pre-existing accounts receivable financing, as well as the collateral rights of our equipment financing."

Narrowstep

On April 16, 2009 Narrowstep, Inc. ("Narrowstep") issued a press release announcing that it is seeking damages from Onstream as a result of Onstream's alleged actions in connection with the termination of the Merger Agreement with Narrowstep. This demand was made in the form of a letter issued by Narrowstep's counsel, although to the best of Onstream's knowledge, no formal lawsuit has been filed by Narrowstep. Mr. Selman stated, "After reviewing the demand letter issued by Narrowstep's counsel, it is clear that Narrowstep has no basis in fact or in law for any claim."

NASDAQ

Mr. Selman further stated, "We are pleased to announce that as a result of the most recent NASDAQ extension of its previous suspension of its enforcement of the minimum bid price listing requirement, Onstream will have until at least October 6, 2009 to regain compliance with this requirement."

The Company received a letter from NASDAQ dated January 4, 2008 indicating that (i) the Company was not compliant with the NASDAQ minimum bid price listing requirements as a result of the bid price of ONSM common stock closing below $1.00 per share for the preceding thirty consecutive business days and (ii) the Company had 180 calendar days to regain compliance. On July 3, 2008, the Company received a letter from NASDAQ granting it an additional 180 calendar days, or until December 30, 2008, to regain compliance with the Rule. On October 22, 2008, the Company received a letter from NASDAQ stating that NASDAQ had suspended enforcement of the minimum bid price listing requirement through January 19, 2009, which suspension on December 19, 2008 was extended to April 20, 2009 and most recently on March 24, 2009 was again extended to July 20, 2009. As a result, all companies presently in a bid price compliance period will remain at the same stage of the process they were when the NASDAQ announced the suspension and will not be subject to delisting for that concern, and accordingly the Company will have until at least October 6, 2009 to regain compliance with this requirement. The Company might be considered compliant with the Rule, subject to the NASDAQ staff's discretion, if ONSM common stock closes at $1.00 per share or more for a minimum of ten consecutive business days before the October 6, 2009 deadline.

About Onstream Media:

Onstream Media Corporation is an online service provider of live and on-demand internet video, corporate web communications and content management applications. Onstream Media's pioneering Digital Media Services Platform (DMSP) provides customers with cost effective tools for encoding, managing, indexing, and publishing content via the Internet. The DMSP provides our clients with intelligent delivery and syndication of video advertising, and supports pay-per-view for online video and other rich media assets. The DMSP also provides an efficient workflow for transcoding and publishing user- generated content in combination with social networks and online video classifieds, utilizing Onstream Media's Auction Video(TM) (patent pending) technology. In addition, Onstream Media provides live and on-demand webcasting, webinars, web and audio conferencing services. In fact, almost half of the Fortune 1000 companies and 78% of the Fortune 100 CEOs and CFOs have used Onstream Media's services.

Select Onstream Media customers include: AAA, AXA Equitable Life Insurance Company, Bonnier Corporation, BT Conferencing, Dell, Disney, MGM, National Press Club, PR Newswire, Shareholder.com (NASDAQ) and the U.S. Government. Onstream Media's strategic relationships include Akamai, Adobe, eBay, FiveAcross/Cisco and Qwest. For more information, visit Onstream Media at http://www.onstreammedia.com/ or call 954-917-6655.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this document and elsewhere by Onstream Media are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to fluctuations in demand; changes to economic growth in the U.S. economy; government policies and regulations, including, but not limited to those affecting the Internet. Onstream Media undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in Onstream Media Corporation's filings with the Securities and Exchange Commission.

Onstream Media: Investor Relations: Chris Faust Brett Maas FastLane Communications Hayden Communications 973-226-4379 646-536-7331 cfaust@fast-lane.net brett@haydenir.com

Onstream Media Corporation

CONTACT: Chris Faust of FastLane Communications, +1-973-226-4379,
cfaust@fast-lane.net; or for Investor Relations: Brett Maas of Hayden
Communications, +1-646-536-7331, brett@haydenir.com

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

CA to Webcast Quarterly Conference Call

ISLANDIA, N.Y., April 22 /PRNewswire-FirstCall/ -- CA, Inc. today announced that it will host a webcast and conference call at 5 p.m. ET on Wednesday, May 13, 2009 to discuss its fourth quarter and full fiscal year 2009 financial results. The webcast will contain forward-looking statements and other material information.

Individuals can access the webcast at http://ca.com/invest/ or listen to the call at 1-719-325-4775. Supplemental financial information relating to CA's earnings announcement will be available at http://ca.com/invest/ at approximately 4:30 p.m. ET on May 13.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090402/NYTH500LOGO ) About CA

CA is the world's leading independent IT management software company. With CA's Enterprise IT Management (EITM) vision and expertise, organizations can more effectively govern, manage and secure IT to optimize business performance and sustain competitive advantage. For more information, visit http://www.ca.com/.

Copyright (C) 2009 CA. All Rights Reserved. One CA Plaza, Islandia, N.Y. 11749. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.

Contacts: Michelle Healy Carol Lu Public Relations Investor Relations (631) 342-4701 (212) 415-6920 michelle.healy@ca.com carol.lu@ca.com

Photo: http://www.newscom.com/cgi-bin/prnh/20090402/NYTH500LOGO
http://photoarchive.ap.org/ CA

CONTACT: Michelle Healy, Public Relations, +1-631-342-4701,
michelle.healy@ca.com, or Carol Lu, Investor Relations, +1-212-415-6920,
carol.lu@ca.com, both of CA

Web Site: http://ca.com/

Telcos in Latin America Seek Alternatives to IPTV to Meet Market Demand, Pyramid Research Finds

CAMBRIDGE, Mass., April 22 /PRNewswire/ -- IPTV will take a backseat to other pay-TV platforms as telcos seek alternative strategies to meet the significant market demand, according to a new report from Pyramid Research (http://www.pyr.com/), the telecom research arm of the Light Reading Communications Network (http://www.lightreading.com/).

IPTV in Latin America: Not So Fast examines the market for pay-TV services in general and IPTV in particular in Latin America. The 18-page report analyzes the regulatory hurdles faced by IPTV and the progress telcos are making in introducing various pay-TV services, as well as the various strategies they employ to make the most of the opportunity in the face of significant challenges. The report cites more than 23 examples of pay-TV services and contains case studies of Telefonica and Telmex/America Movil that investigate their respective pay-TV strategies across the region. Download the excerpt of this report here: http://www.pyr.com/downloads.htm?id=5&sc=PR042209_INLA1v2

In recent years, telcos around the world have developed an attraction to the idea of IPTV as a new revenue source and competitive instrument. However, IPTV is simply not living up to expectations in Latin America. "Fewer than 0.1 percent of households in Latin America subscribed to IPTV at year-end 2008 and the technology had very few net additions during the year," notes Derek Medlin, analyst at Pyramid Research and author of the report. "As the market has evolved, it has become evident that there is significant demand for pay-TV, which is pushing telcos to seek alternative strategies to meet this demand," he says. "However, the reality is that the struggles on the front end have severely crippled adoption so far; regulatory issues are blockading IPTV altogether, or at least leading to deployment delays," he adds.

Although pay-TV penetration remains anemic relative to the adoption of pay-TV in other regions, Pyramid believes this is due to a lack of supply rather than a lack of demand. "Recent initiatives from telcos and cable companies are catalyzing the market by thrusting a variety of pay-TV services into underpenetrated areas and market segments," says Medlin. "As a result, adoption is taking off, making the low penetration levels an indicator of the growth potential, especially when gauged against the levels of adoption reached in other regions," he explains.

"IPTV will have to take a backseat to other pay-TV platforms for the rest of the forecast period, becoming part of a lineup of pay-TV offerings rather than the sole telco service," Medlin adds. In the future, Pyramid does not expect IPTV to break out of its niche until around 2012, when it will be approaching a 5 percent share of total pay-TV subscriptions. "Pyramid estimates that by 2014, the region will be home to more than 4.4 million IPTV subscriptions, which will reach 2.6 percent of all households," he says.

IPTV in Latin America: Not So Fast is part of Pyramid Research's Latin America Telecom Insider report series. Telecom Insiders are packed with trend analysis, industry best practices, market sizing and forecasting, competitor analysis, and case studies, providing you information you can leverage to make better business decisions.

Download the excerpt of this report here: http://www.pyr.com/downloads.htm?id=5&sc=PR042209_INLA1v2

IPTV in Latin America: Not So Fast is priced at $595 and can be purchased online here: http://www.pyramidresearch.com/store/ins_la_090409.htm?sc=PR042209_INLA1v2 or by contacting Jeff Claudino via email at claudino@pyr.com or telephone at +1-619-229-9940.

About Pyramid Research

Pyramid Research (http://www.pyr.com/) offers practical solutions to the complex demands our clients face in the telecommunications, media, and technology industries. Our analysis is uniquely positioned at the intersection of emerging markets, emerging technologies and emerging business models, powered by the bottom-up methodology of our market forecasts for over 100 countries -- a distinction that has remained unmatched for more than 25 years. As the telecom research arm of the Light Reading Communications Network, Pyramid Research works with Heavy Reading, providing the communications industry's most comprehensive market data, trusted research, and insightful technology analysis.

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

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 $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/.

Press contact: Jennifer Baker +1 617 871-1910 jbaker@pyr.com

Pyramid Research

CONTACT: Jennifer Baker for Pyramid Research, +1-617-871-1910,
jbaker@pyr.com

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

Beacon Equity Issues Stock Alerts on Newsworthy Market Movers: BA, MCD, MO, PFCB, WWW, CAL

DALLAS, April 22 /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: Boeing Co. , McDonald's Corp. , Altria Group Inc. , P.F. Chang's China Bistro Inc. , Wolverine Worldwide Inc. and Continental Airlines 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.

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/

Telcos in Latin America Seek Alternatives to IPTV to Meet Market Demand, Pyramid Research Finds

CAMBRIDGE, Massachusetts, April 22 /PRNewswire/ --

IPTV will take a backseat to other pay-TV platforms as telcos seek alternative strategies to meet the significant market demand, according to a new report from Pyramid Research (www.pyr.com), the telecom research arm of the Light Reading Communications Network (www.lightreading.com).

IPTV in Latin America: Not So Fast examines the market for pay-TV services in general and IPTV in particular in Latin America. The 18-page report analyzes the regulatory hurdles faced by IPTV and the progress telcos are making in introducing various pay-TV services, as well as the various strategies they employ to make the most of the opportunity in the face of significant challenges. The report cites more than 23 examples of pay-TV services and contains case studies of Telefonica and Telmex/America Movil that investigate their respective pay-TV strategies across the region. Download the excerpt of this report here: http://www.pyr.com/downloads.htm?id=5&sc=PR042209_INLA1v2

In recent years, telcos around the world have developed an attraction to the idea of IPTV as a new revenue source and competitive instrument. However, IPTV is simply not living up to expectations in Latin America. "Fewer than 0.1 percent of households in Latin America subscribed to IPTV at year-end 2008 and the technology had very few net additions during the year," notes Derek Medlin, analyst at Pyramid Research and author of the report. "As the market has evolved, it has become evident that there is significant demand for pay-TV, which is pushing telcos to seek alternative strategies to meet this demand," he says. "However, the reality is that the struggles on the front end have severely crippled adoption so far; regulatory issues are blockading IPTV altogether, or at least leading to deployment delays," he adds.

Although pay-TV penetration remains anemic relative to the adoption of pay-TV in other regions, Pyramid believes this is due to a lack of supply rather than a lack of demand. "Recent initiatives from telcos and cable companies are catalyzing the market by thrusting a variety of pay-TV services into underpenetrated areas and market segments," says Medlin. "As a result, adoption is taking off, making the low penetration levels an indicator of the growth potential, especially when gauged against the levels of adoption reached in other regions," he explains.

"IPTV will have to take a backseat to other pay-TV platforms for the rest of the forecast period, becoming part of a lineup of pay-TV offerings rather than the sole telco service," Medlin adds. In the future, Pyramid does not expect IPTV to break out of its niche until around 2012, when it will be approaching a 5 percent share of total pay-TV subscriptions. "Pyramid estimates that by 2014, the region will be home to more than 4.4 million IPTV subscriptions, which will reach 2.6 percent of all households," he says.

IPTV in Latin America: Not So Fast is part of Pyramid Research's Latin America Telecom Insider report series. Telecom Insiders are packed with trend analysis, industry best practices, market sizing and forecasting, competitor analysis, and case studies, providing you information you can leverage to make better business decisions.

Download the excerpt of this report here: http://www.pyr.com/downloads.htm?id=5&sc=PR042209_INLA1v2

IPTV in Latin America: Not So Fast is priced at US$595 and can be purchased online here: http://www.pyramidresearch.com/store/ins_la_090409.htm?sc=PR042209_INLA1v2 or by contacting Jeff Claudino via email at claudino@pyr.com or telephone at +1-619-229-9940.

About Pyramid Research

Pyramid Research (www.pyr.com) offers practical solutions to the complex demands our clients face in the telecommunications, media, and technology industries. Our analysis is uniquely positioned at the intersection of emerging markets, emerging technologies and emerging business models, powered by the bottom-up methodology of our market forecasts for over 100 countries -- a distinction that has remained unmatched for more than 25 years. As the telecom research arm of the Light Reading Communications Network, Pyramid Research works with Heavy Reading, providing the communications industry's most comprehensive market data, trusted research, and insightful technology analysis.

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.

Press contact: Jennifer Baker +1-617-871-1910 jbaker@pyr.com

Pyramid Research

Jennifer Baker for Pyramid Research, +1-617-871-1910, jbaker@pyr.com

Telcos in Latin America Seek Alternatives to IPTV to Meet Market Demand, Pyramid Research Finds

CAMBRIDGE, Mass., April 22 /PRNewswire/ -- IPTV will take a backseat to other pay-TV platforms as telcos seek alternative strategies to meet the significant market demand, according to a new report from Pyramid Research (http://www.pyr.com/), the telecom research arm of the Light Reading Communications Network (http://www.lightreading.com/).

IPTV in Latin America: Not So Fast examines the market for pay-TV services in general and IPTV in particular in Latin America. The 18-page report analyzes the regulatory hurdles faced by IPTV and the progress telcos are making in introducing various pay-TV services, as well as the various strategies they employ to make the most of the opportunity in the face of significant challenges. The report cites more than 23 examples of pay-TV services and contains case studies of Telefonica and Telmex/America Movil that investigate their respective pay-TV strategies across the region. Download the excerpt of this report here: http://www.pyr.com/downloads.htm?id=5&sc=PR042209_INLA1v2

In recent years, telcos around the world have developed an attraction to the idea of IPTV as a new revenue source and competitive instrument. However, IPTV is simply not living up to expectations in Latin America. "Fewer than 0.1 percent of households in Latin America subscribed to IPTV at year-end 2008 and the technology had very few net additions during the year," notes Derek Medlin, analyst at Pyramid Research and author of the report. "As the market has evolved, it has become evident that there is significant demand for pay-TV, which is pushing telcos to seek alternative strategies to meet this demand," he says. "However, the reality is that the struggles on the front end have severely crippled adoption so far; regulatory issues are blockading IPTV altogether, or at least leading to deployment delays," he adds.

Although pay-TV penetration remains anemic relative to the adoption of pay-TV in other regions, Pyramid believes this is due to a lack of supply rather than a lack of demand. "Recent initiatives from telcos and cable companies are catalyzing the market by thrusting a variety of pay-TV services into underpenetrated areas and market segments," says Medlin. "As a result, adoption is taking off, making the low penetration levels an indicator of the growth potential, especially when gauged against the levels of adoption reached in other regions," he explains.

"IPTV will have to take a backseat to other pay-TV platforms for the rest of the forecast period, becoming part of a lineup of pay-TV offerings rather than the sole telco service," Medlin adds. In the future, Pyramid does not expect IPTV to break out of its niche until around 2012, when it will be approaching a 5 percent share of total pay-TV subscriptions. "Pyramid estimates that by 2014, the region will be home to more than 4.4 million IPTV subscriptions, which will reach 2.6 percent of all households," he says.

IPTV in Latin America: Not So Fast is part of Pyramid Research's Latin America Telecom Insider report series. Telecom Insiders are packed with trend analysis, industry best practices, market sizing and forecasting, competitor analysis, and case studies, providing you information you can leverage to make better business decisions.

Download the excerpt of this report here: http://www.pyr.com/downloads.htm?id=5&sc=PR042209_INLA1v2

IPTV in Latin America: Not So Fast is priced at $595 and can be purchased online here: http://www.pyramidresearch.com/store/ins_la_090409.htm?sc=PR042209_INLA1v2 or by contacting Jeff Claudino via email at claudino@pyr.com or telephone at +1-619-229-9940.

About Pyramid Research

Pyramid Research (http://www.pyr.com/) offers practical solutions to the complex demands our clients face in the telecommunications, media, and technology industries. Our analysis is uniquely positioned at the intersection of emerging markets, emerging technologies and emerging business models, powered by the bottom-up methodology of our market forecasts for over 100 countries -- a distinction that has remained unmatched for more than 25 years. As the telecom research arm of the Light Reading Communications Network, Pyramid Research works with Heavy Reading, providing the communications industry's most comprehensive market data, trusted research, and insightful technology analysis.

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

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 $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/.

Press contact: Jennifer Baker +1 617 871-1910 jbaker@pyr.com

Pyramid Research

CONTACT: Jennifer Baker for Pyramid Research, +1-617-871-1910,
jbaker@pyr.com

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

Image Sensing Systems Announces Q1 Earnings Release Date

SAINT PAUL, Minn., April 22 /PRNewswire-FirstCall/ -- Image Sensing Systems, Inc. , plans to distribute its earnings press release regarding results for its fiscal first quarter ended March 31, 2009 after the close of trading on Wednesday, May 6, 2009.

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

Image Sensing Systems, Inc. is a technology company focused in infrastructure productivity improvement through the development of software-based detection solutions for the Intelligent Transportation Systems (ITS) sector and adjacent overlapping markets. ISS' industry leading computer-enabled detection (CED) products, including the Autoscope(R) machine-vision family and the RTMS(R) radar family, combine embedded software signal processing with sophisticated sensing technologies for use in transportation, environmental and safety/surveillance management. CED is a group of technologies in which software, rather than humans, examines the outputs of complex sensors to determine what is happening in the field of view in real-time. With more than 90,000 instances sold in over 60 countries worldwide, our depth of experience coupled with breadth of product portfolio uniquely positions us to provide powerful hybrid technology solutions and to exploit the convergence of the traffic, security and environmental management markets. We are headquartered in St. Paul, Minnesota. Visit us on the web at imagesensing.com.

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

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

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

Overstock.com Reports First Quarter 2009 Financial Results

SALT LAKE CITY, April 22 /PRNewswire-FirstCall/ -- Overstock.com, Inc. today reported financial results for the quarterly period ending March 31, 2009.

Key Q1 2009 metrics (comparison to Q1 2008): -- Revenue: $187.4M vs. $202.8M (an 8% decrease); -- Gross margin: 20.1% vs. 16.7% (a 337 basis point improvement); -- Gross profit: $37.7M vs. $34.0M (an 11% increase); -- Sales and marketing expense: $13.5M vs. $15.0M (a 10% decrease); -- Contribution (gross profit less sales and marketing) (a non-GAAP measure): $24.2M vs. $19.0M (a 27% increase); -- G&A/Technology expense: $27.2M vs. $24.1M (a 13% increase); -- Net (loss): $(2.1)M vs. $(4.7)M (a $2.6M improvement); -- EPS: $(0.09)/share vs. $(0.20)/share (an $0.11/share improvement); and -- Adjusted EBITDA (TTM) (a non-GAAP measure): $14.3M vs. $1.1M (a $13.2M improvement). Dear Owner:

The current economic environment remains tough: our year-over-year revenues decreased 8%. However, our continued focus on aspects of the business below the revenue line is paying off. Gross margin was 20.1% in the quarter and, even adjusting for some non-recurring items, it was 19.1%, still an all-time high for us. Similarly, contribution percentage was higher than ever due to better margins and a controlled marketing spend. We are making prudent long-term investments in the business in talent and capital expenditures, throttled by internally generated cash flows, thus ensuring we do not get out in front of our headlights.

I look forward to speaking with you on our upcoming conference call, and until then, I remain,

Your humble servant, Patrick M. Byrne

P.S. Please email questions to Kevin Moon at kmoon@overstock.com prior to the conference call.

Key financial and operating metrics:

Total revenue -- Total revenue for the three months ended March 31, 2009 and 2008 was $187.4 million and $202.8 million, respectively, an 8% decrease.

Gross profit -- Gross profit for the three months ended March 31, 2009 and 2008 was $37.7 million and $34.0 million, respectively, an 11% increase, representing 20.1% and 16.7% as a percentage of total revenue for those respective periods.

In Q1 2009, we reduced total cost of goods sold by $1.9 million for recoveries from partners who were underbilled in 2008 for certain fees and charges that they were contractually obligated to pay and a refund due of overbillings by a freight carrier for charges from Q4 2008. This accounted for 103 basis points of the 337 basis point improvement from Q1 2008. Without this reduction, gross profit for the three months ended March 31, 2009 would be $35.8 million (19.1% as a percentage of total revenue), a 5% increase from Q1 2008.

Contribution (a non-GAAP measure) and contribution margin -- "Contribution" (gross profit less sales and marketing expenses) for the three months ended March 31, 2009 and 2008 was $24.2 million (12.9% contribution margin) and $19.0 million (9.3% contribution margin), respectively, a 27% increase, or a 355 basis point improvement.

(amounts in thousands) Three months ended March 31, ---------- 2008 2009 ---- ---- Total revenue $202,814 $187,367 Cost of goods sold 168,843 149,676 ------- ------- Gross profit 33,971 37,691 Less: Sales and marketing expense 15,019 13,540 ------ ------ Contribution $18,952 $24,151 ------ ------ Contribution margin 9.3% 12.9%

Without the adjustment to cost of goods sold described above, contribution for Q1 2009 would have been $22.3 million (11.9% contribution margin), a 17% increase.

Contribution reflects an additional way of viewing our results. When viewed with our GAAP gross profit less sales and marketing expenses, we believe contribution provides investors information about the performance of the company's sales and marketing efforts in generating gross profit.

General and administrative ("G&A") expenses -- G&A expenses totaled $13.5 million and $9.6 million for the three months ended March 31, 2009 and 2008, respectively, approximately 7.2% and 4.7% of total revenue for those respective periods. The increase of $3.9 million in Q1 G&A expenses year over year is primarily due to an increase in merchandising, finance, human resources, and other administrative staff. It also reflects an increase in facilities expenses and a one-time termination payment of $1.25 million accrued in connection with the termination of a consulting arrangement with Icent LLC. We have paid the termination payment to Icent LLC's chief executive officer James V. Joyce, who resigned from his position as a member of the Company's Board of Directors on April 1, 2009.

The increase in G&A expenses was partially offset as we recognized a reduction of legal expense related to $600,000 of a $2.75 million payment that we received from an insurer in settlement of a dispute regarding insurance coverage of a legal matter.

Operating loss -- Operating loss for the three months ended March 31, 2009 was $(3.1) million compared to $(5.1) million for the three months ended March 31, 2008, a $2.0 million improvement.

Other income (expense) -- For the three months ended March 31, 2009, other income (expense) was $1.7 million. This included a $1.9 million gain, net of amortization of debt discount of $63,000 on the extinguishment of $4.9 million of our 3.75% Convertible Senior Notes. This gain was offset in part by a loss on the disposition of fixed assets of $184,000.

Net loss -- Net loss for the three months ended March 31, 2009 was $(2.1) million, or $(0.09) loss per common share, compared to $(4.7) million, or $(0.20) per common share in 2008.

Adjusted EBITDA -- Adjusted EBITDA (a non-GAAP measure) for the three months ended March 31, 2009 and 2008 was $2.0 million and $2.7 million, respectively. For the twelve months ended March 31, 2009 and 2008, Adjusted EBITDA was $14.3 million and $1.1 million, respectively. Adjusted EBITDA, which we reconcile to "Net income (loss)" below, is an additional way of viewing our results that, when viewed together with our GAAP results, provides a more complete understanding of factors affecting our results. We believe that discussing Adjusted EBITDA is useful to us and investors because it approximates actual cash used or cash generated by the continuing operations of the business.

Our calculation of Adjusted EBITDA is set forth below: Three months ended Twelve months ended March 31, March 31, -------- --------- (in thousands) 2008 2009 2008 2009 ---- ---- ---- ---- Net loss $(4,724) $(2,099) $(30,672) $(10,033) Add back amounts for computation of Adjusted EBITDA: Depreciation and amortization, including internal-use software and website development, and other amortization 6,497 4,185 28,221 20,355 Stock-based compensation expense to employees and directors 1,184 849 4,633 3,687 Stock-based compensation to consultants for services (14) 10 170 283 Stock-based compensation related to performance share plan 150 - (400) (1,150) Treasury stock issued from treasury for 401(k) matching contribution 19 - (89) - Interest (income) expense, net (403) 743 (1,042) 1,445 Other (income), net - (1,736) (290) Loss from discontinued operations - - 300 - --- --- --- --- Adjusted EBITDA $2,709 $1,952 $1,121 $14,297 ----- ----- ----- ------

Free Cash Flow (a non-GAAP measure) -- Free cash flow for the three months ended March 31, 2009 and 2008 totaled $(28.8) million and $(42.4) million, respectively. For the twelve months ended March 31, 2009 and 2008, free cash flow was $(3.2) million and $23.7 million.

Free cash flow reflects an additional way of viewing our cash flows and liquidity that, when viewed with our GAAP results, provides a more complete understanding of factors and trends affecting our cash flows. Free cash flow, which we reconcile to "Net cash provided by (used in) operating activities," is cash flow from operations reduced by "Expenditures for fixed assets, including internal-use software and website development." Although we believe that cash flow from operating activities is an important measure, we believe free cash flow is a useful measure to evaluate our business since purchases of fixed assets are a necessary component of ongoing operations. Therefore, we believe it is important to view free cash flow as a complement to our entire consolidated statements of cash flows.

Three months ended Twelve months ended March 31, March 31, -------- -------- (in thousands) 2008 2009 2008 2009 ---- ---- ---- ---- Net cash provided by (used in) operating activities $(41,044) $(27,083) $27,173 $15,921 Expenditures for fixed assets, including internal-use software and website development (1,313) (1,736) (3,479) (19,113) ----- ----- ----- ------ Free cash flow $(42,357) $(28,819) $23,694 $(3,192) ------ ------ ------ -----

Cash and working capital -- At March 31, 2009, Overstock.com had cash and cash equivalents of $78.6 million. Working capital was $33.7 million and $39.7 million at March 31, 2009 and December 31, 2008, respectively.

About Overstock.com

Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com/. Overstock.com regularly posts information about the company and other related matters on its website under the heading "Investor Relations."

Overstock.com(R) is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective owners.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical facts. Our Form 10-K/A for the year ended December 31, 2008, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.

Overstock.com, Inc. Consolidated Statements of Operations (unaudited) (in thousands, except per share amounts) Three months ended March 31, --------- 2008 2009 ---- ---- Revenue, net Direct $51,764 $35,059 Fulfillment partner 151,050 152,308 ------- ------- Total net revenue 202,814 187,367 ------- ------- Cost of goods sold Direct 44,803 30,478 Fulfillment partner 124,040 119,198 ------- ------- Total cost of goods sold 168,843 149,676 ------- ------- Gross profit 33,971 37,691 ------ ------ Operating expenses: Sales and marketing 15,019 13,540 Technology 14,516 13,789 General and administrative 9,563 13,454 ----- ------ Total operating expenses 39,098 40,783 ------ ------ Operating loss (5,127) (3,092) Interest income, net 1,304 123 Interest expense (901) (866) Other income (expense), net - 1,736 --- ----- Net loss $(4,724) $(2,099) ------- ------- Net loss per common share - basic and diluted $(0.20) $(0.09) Weighted average common shares outstanding - basic and diluted 23,345 22,803 Other data: Shopping bookings (in 000s) $219,754 $203,990 Auction gross merchandise volume (in 000s) $2,610 $5,188 Average customer acquisition cost (shopping) $25.21 $22.05 Overstock.com, Inc. Consolidated Balance Sheets (in thousands) December 31, March 31, 2008 2009 ---- ---- Assets (unaudited) Current assets: Cash and cash equivalents $100,577 $78,607 Marketable securities 8,989 - ----- --- Cash, cash equivalents and marketable securities 109,566 78,607 Accounts receivable, net 6,985 9,693 Notes receivable 1,250 - Inventories, net 17,723 11,695 Prepaid inventory, net 761 1,401 Prepaid expense 9,694 8,733 ----- ----- Total current assets 145,979 110,129 Fixed assets, net 23,144 20,513 Goodwill 2,784 2,784 Other long-term assets, net 538 2,920 --- ----- Total assets $172,445 $136,346 -------- -------- Liabilities and Stockholders' Equity (Deficit) Current liabilities: Accounts payable $62,120 $31,476 Accrued liabilities 25,154 27,234 Deferred revenue 19,026 17,683 ------ ------ Total current liabilities 106,300 76,393 Other long-term liabilities 2,572 2,823 Convertible senior notes 66,558 61,730 ------ ------ Total liabilities 175,430 140,946 ------- ------- Stockholders' deficit: Common stock 2 2 Additional paid-in capital 338,620 339,479 Accumulated deficit (264,985) (267,084) Treasury stock (76,670) (76,997) Accumulated other comprehensive income 48 - -- --- Total stockholders' deficit (2,985) (4,600) ------ ------ Total liabilities and stockholders' deficit $172,445 $136,346 -------- -------- Overstock.com, Inc. Consolidated Statements of Cash Flows (unaudited) (in thousands) Three months Twelve months ended March 31, ended March 31, ---------------- ---------------- 2008 2009 2008 2009 ---- ---- ---- ---- Cash flows from operating activities of continuing operations: Net loss $(4,724) $(2,099) $(30,672) $(10,033) Adjustments to reconcile net loss to cash provided by (used in) operating activities of continuing operations: Loss from discontinued operations - - 300 - Depreciation and amortization, including internal-use software and website development 6,497 4,185 28,221 20,355 Realized loss on marketable securities - 39 - 373 Loss on settlement of notes receivable - - - 3,929 Loss on disposition of fixed assets - 184 1 324 Stock-based compensation to employees and directors 1,184 849 4,633 3,687 Stock-based compensation to consultants for services (14) 10 170 283 Stock-based compensation relating to performance share plan 150 - (400) (1,150) Issuance of common stock from treasury for 401(k) matching contribution 19 - (89) - Amortization of debt discount 87 74 345 321 Gain from early extinguishment of debt - (1,926) - (4,775) Asset impairment and depreciation (other non-cash restructuring) - - 2,169 - Restructuring charges - - 4,025 - Notes receivable accretion (136) - (408) (409) Changes in operating assets and liabilities, net of effect of acquisition and discontinued operations: Accounts receivable, net 1,931 (2,708) (1,331) 130 Inventories, net 7,673 6,028 108 6,275 Prepaid inventory, net 1,004 (640) 33 533 Prepaid expenses (2,546) (707) (683) (283) Other long-term assets, net - (716) 381 (1,232) Accounts payable (37,519) (30,644) 9,418 (1,363) Accrued liabilities (12,669) 2,080 4,712 2,468 Deferred revenue (1,775) (1,343) 6,639 (3,507) Other long-term liabilities (206) 251 (399) (5) ---- --- ---- -- Net cash provided by (used in) operating activities of continuing operations (41,044) (27,083) 27,173 15,921 ------- ------- ------ ------ Cash flows from investing activities of continuing operations: Purchases of marketable securities (6,539) - (81,756) (29,009) Maturities of marketable securities 22,911 - 52,169 41,631 Sales of marketable securities prior to maturity - 8,902 - 16,642 Expenditures for fixed assets, including internal-use software and website development (1,313) (1,736) (3,479) (19,113) Proceeds from the sale of discontinued operations, net of cash transferred - - 9,892 - Collection of note receivable 502 1,250 1,757 2,254 --- ----- ----- ----- Net cash provided by (used in) investing activities of continuing operations 15,561 8,416 (21,417) 12,405 ------ ----- ------- ------ Cash flows from financing activities of continuing operations: Payments on capital lease obligations (3,794) - (3,808) (2) Drawdowns on line of credit 5,268 1,612 6,522 9,307 Paydowns on line of credit (5,268) (1,612) (6,522) (9,307) Payments to retire convertible senior notes - (2,976) - (9,526) Purchase of treasury stock (12,000) (327) (12,000) (1,779) Exercise of stock options - - 2,077 1,471 --- --- ----- ----- Net cash used in financing activities of continuing operations (15,794) (3,303) (13,731) (9,836) ------- ------ ------- ------ Effect of exchange rate changes on cash (23) - (11) 23 Cash used in operating activities of discontinued operations - - (614) - --- --- ---- --- Net increase (decrease) in cash and cash equivalents (41,300) (21,970) (8,600) 18,513 Less change in cash and cash equivalents from discontinued operations - - 614 - Cash and cash equivalents, beginning of period 101,394 100,577 68,080 60,094 ------- ------- ------ ------ Cash and cash equivalents, end of period $60,094 $78,607 $60,094 $78,607 ------- ------- ------- -------

Overstock.com, Inc.

CONTACT: Media, Roger Johnson, +1-801-947-4430, rojohnson@overstock.com,
or Investors, Kevin Moon, +1-801-947-3282, kmoon@overstock.com, both of
Overstock.com, Inc.

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

Spectrum Control to Present at AeA Micro Cap Financial Conference

FAIRVIEW, Pa., April 22 /PRNewswire-FirstCall/ -- Spectrum Control, Inc. , a leading designer and manufacturer of custom electronic products and systems, today announced that Dick Southworth, President and Chief Executive Officer, and Jack Freeman, Senior Vice President and Chief Financial Officer, will be presenting at the 11th Annual AeA Micro Cap Financial Conference at the Monterey Plaza Hotel in Monterey, California. Spectrum Control's presentation is scheduled for May 5, 2009.

The AeA Micro Cap Financial Conference provides a select group of technology companies an opportunity to showcase their Company to key technology investors, bankers, and analysts.

About AeA

AeA (formerly the American Electronics Association) is a nationwide non-profit trade association that represents all segments of the technology industry. AeA is dedicated to helping its member organizations by lobbying governments at all levels; providing access to capital and business opportunities; and offering select business services and networking programs.

About Spectrum Control

Spectrum Control, Inc. is a leader in the design, development and manufacture of high-performance custom electronic solutions for the defense, aerospace, communications, and medical industries worldwide. For more information about Spectrum Control and its products, please visit the Company's website at http://www.spectrumcontrol.com/.

Spectrum Control, Inc.

CONTACT: Investor Relations, John P. Freeman, Senior Vice President and
Chief Financial Officer of Spectrum Control, Inc., +1-814-474-4310

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

ICSA Labs Turns 20!Testing and Certification Leader Celebrates Two Decades of Making the Internet More Secure

SAN FRANCISCO, April 22 /PRNewswire/ -- ICSA Labs has seen a lot since opening its doors 20 years ago -- from the creation of the commercial Internet to the dot-com bubble and bust to the game-changing consolidations, mergers and acquisitions that followed. Through it all, ICSA Labs -- now an independent division of Verizon Business, a leader in security -- has remained one of the oldest and most-trusted testing and certification organizations for many of the world's top security product vendors.

"It's been an amazing journey to watch ICSA Labs grow up over the last 20 years, along with the overall global information security industry," said George Japak, managing director, ICSA Labs. "While we've grown from a small operation with a U.S. focus to a global organization that serves hundreds of customers in 27 countries, our mission remains the same: being the security industry's central authority for research, intelligence and certification testing of security products."

At the RSA Conference at the Moscone Center here April 20-24, ICSA Labs (located in the Verizon Business booth, # 1837) is both celebrating its 20th anniversary and highlighting its leading global capabilities. Since its founding in 1989, ICSA Labs has performed rigorous vendor-neutral testing and certification for hundreds of products. Its customers rely on it to set and apply objective testing and certification criteria for measuring product compliance and reliability, enabling the products to earn the ICSA Labs' prestigious seal of approval, which represents the industry benchmark for security.

A few of ICSA Labs' many milestones are reflected below. -- 1989: National Computer Security Association (NCSA) - the original name for ICSA Labs -- is founded and quickly begins to advance the developing field of information security. -- 1991: NCSA forms the Anti-Virus Product Developers' Consortium, aimed at educating the market about computer viruses and available solutions, as well as improving products. The same year, NCSA convenes the Anti-Virus Developers Conference. -- 1992: NCSA announces its first certified anti-virus products. The same year, the World Wide Web is officially created. -- 1993: NCSA sponsors National Computer Virus Awareness Day, which draws enthusiastic support from President Clinton's administration. -- 1995: NCSA starts testing network firewalls. Additionally, NCSA creates the first Firewall Product Developers' Consortium, providing a forum for developers of competing firewall products to work toward common goals to benefit members and customers. Since then, the consortium has become an international group dedicated to collectively working to advance firewall technology. -- 1996: NCSA certifies its first round of firewall products. -- 1997: NCSA changes its name to ICSA Labs in recognition of its global business, and begins testing products internationally. The same year, the company begins offering certification testing for cryptography products. The company also debuts Information Security magazine, which remains one of the most-read information security publications today. -- 1998: ICSA Labs launches 1st Corporate Risk Management Program, which later evolves into the company, TruSecure. The company also begins testing biometric and IPSec VPN (Internet protocol security virtual private network) products. -- 1999: The Melissa virus infects 1,205,000 computers and 53,000 servers. ICSA Labs successfully conducts research to track the spread of the virus and its impact on enterprise users. Also in 1999, ICSA Labs launches testing for intrusion detection systems (IDS). -- 2000: In response to the "I Love You" virus, ICSA Labs issues an Emergency Virus Alert -- complete with recommendations to protect systems -- to customers, calling it the most pervasive and damaging virus in history. Later that year, Dr. Peter Tippett, then chief technology officer, discusses the virus in testimony before a hearing on computer viruses held by the U.S. House of Representatives Subcommittee on Technology. -- Also in 2000, ICSA Labs acquires NTBugTraq, an online anti-virus and vulnerability forum, and begins formally testing Public Key Infrastructure (PKI) products. ICSA Labs becomes an independent division of TruSecure Corp., which offers products and services designed to help companies determine how vulnerable their networks are to new security threats. -- 2001: ICSA Labs begins testing personal computer firewalls. -- 2002: ICSA Labs relocates to Mechanicsburg, Pa., to accommodate growth. The same year, ICSA Labs acquires the WildList Organization, a leading source of information on which viruses are spreading "in the wild." -- 2003: ICSA Labs launches its testing program for SSL VPN (secure sockets layer) products. The same year, it sells Information Security magazine to TechTarget. -- 2004: TruSecure merges with Betrusted and Ubizen to form Cybertrust, a pure-play provider of information security. ICSA Labs becomes an independent division of Cybertrust. It also establishes a testing program for the wireless LAN standard, IEEE 802.11. -- 2005: ICSA Labs earns ISO 9001:2000 Certification, becoming the first commercial security certification and testing lab to become ISO certified. It continues to launch new testing programs, this time for network intrusion prevention systems (IPS) and anti-spyware. -- 2006: The company begins formally testing anti-spam and Web application firewalls. The same year, ICSA Labs works together with McAfee, Symantec Corp., Trend Micro Inc. and Thompson Cyber Security Labs to establish a comprehensive industry standard and testing methodology for spyware. -- 2007: Verizon Business acquires Cybertrust and ICSA Labs. Continuing its tradition of testing hot new security products, ICSA Labs begins certifying SSL-TLS VPN (secure sockets layer- transport layer security virtual private network) products.

"For two decades ICSA Labs has set the gold standard as one of the security industry's most trusted certification and testing organizations," said Candace Worley, vice president, McAfee, the world's largest dedicated security technology company. "ICSA Labs is well-positioned to continue to help vendors develop the safest, most efficient products to combat existing and emerging Internet security threats."

About ICSA Labs

ICSA Labs, an independent division of Verizon Business, offers vendor-neutral testing and certification of security products. Many of the world's top security vendors submit their products for testing and certification at ICSA Labs. Businesses rely on ICSA Labs to authoritatively set and apply objective testing and certification criteria for measuring product compliance and reliability. For more information about ICSA Labs, please visit: http://www.icsalabs.com/.

About Verizon Business

Verizon Business, a unit of Verizon Communications , is a global leader in communications and IT solutions. We combine professional expertise with the world's most connected IP network to deliver award-winning communications, IT, information security and network solutions. We securely connect today's extended enterprises of widespread and mobile customers, partners, suppliers and employees -- enabling them to increase productivity and efficiency and help preserve the environment. Many of the world's largest businesses and governments -- including 96 percent of the Fortune 1000 and thousands of government agencies and educational institutions -- rely on our professional and managed services and network technologies to accelerate their business. Find out more at http://www.verizonbusiness.com/

Verizon Business

CONTACT: Brianna Carroll Boyle, +1-703-859-4251,
brianna.boyle@verizon.com, or Clare Ward, +44 (0) 118 905 3501,
clare.ward@uk.verizonbusiness.com, or Junaidah Dahlan, +65 6248 6827
junaidah.dahlan@sg.verizonbusiness.com, all of Verizon Business

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

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

CGI to release second quarter fiscal 2009 results on May 6Stock Market Symbols GIB.A (TSX) GIB (NYSE) www.cgi.com/newsroom

MONTREAL, April 22 /PRNewswire-FirstCall/ -- CGI Group Inc. (TSX: GIB.A; NYSE: GIB) will release results for its second quarter fiscal 2009, ended March 31, 2009, on Wednesday, May 6, 2009 before the markets open. Management will host a conference call and question-and-answer session to discuss earnings at 9:00 a.m. (EDT). Participants will include Michael E. Roach, President and Chief Executive Officer, as well as David Anderson, Executive Vice-President and Chief Financial Officer.

Who: CGI Group Inc. What: Second Quarter Fiscal 2009 Results When: Wednesday, May 6, 2009 at 9:00 a.m. (EDT) Conference Call: 1-866-223-7781 Webcast: A live webcast of the quarterly results conference call may be accessed through the Company's website http://www.cgi.com/ where a replay will also be archived. Listeners should allow ample time to access the webcast. As well, reference slides will be available for download shortly before the beginning of the call. Podcast: An MP3 version will be available for download later in the day. RSS Feed: Subscribe via our site to receive the latest news releases and podcasts: http://www.cgi.com/web/en/media_room/rss_podcast_feeds.htm. About CGI

Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 25,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $4.0 billion and at December 31, 2008, CGI's order backlog was $11.4 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: http://www.cgi.com/.

CGI GROUP INC.

CONTACT: Colin Brown, Specialist, Communications and Investor Relations,
(514) 841-3634, colin.brown@cgi.com

CTG Announces 2009 First Quarter Conference Call and Webcast Information

BUFFALO, N.Y., April 22 /PRNewswire-FirstCall/ -- CTG , an international information technology (IT) solutions and services company, today announced that it would release its 2009 first quarter financial results on April 28, 2009 after the market closes. The company will hold a conference call to discuss its financial results and business strategy on Wednesday, April 29, 2009 at 10:00 a.m. Eastern Time. CTG Chairman and Chief Executive Officer James R. Boldt will lead the call. Interested parties can dial in to 1-888-276-0010 between 9:45 a.m. and 9:50 a.m., ask for the CTG conference call, and identify James Boldt as the conference chairperson. A replay of the call will be available between 12:00 p.m. Eastern Time April 29, 2009 and 11:00 p.m. Eastern Time May 2, 2009 by dialing 1-800-475-6701 and entering the conference ID number 978256.

A webcast of the call will also be available on CTG's web site: http://www.ctg.com/. You must have Windows Media Player or RealPlayer's audio software on your computer to listen to the webcast. Both are available for downloading at no charge when accessing the webcast. The webcast will also be archived on CTG's web site at http://investor.ctg.com/events.cfm for 90 days following completion of the conference call.

About CTG

Backed by over 40 years' experience, CTG provides IT solutions and services to help our clients use technology as a competitive advantage to excel in their markets. CTG combines in-depth understanding of our clients' businesses with a full range of integrated offerings, best practices, and proprietary methodologies supported by an ISO 9001:2000-certified management system. Our IT professionals based in an international network of offices in North America and Europe have a proven track record of delivering high-value, industry-specific solutions. CTG serves companies in several industries and is a leading provider of IT and business consulting solutions to the healthcare market. CTG posts news and other important information on the Web at http://www.ctg.com/.

Today's news release, along with CTG news releases for the past year, is available on the Web at http://www.ctg.com/.

ctgx-e CONTACT: Jo Ann Rice (716) 887-7244 joann.rice@ctg.com

CTG

CONTACT: Jo Ann Rice, +1-716-887-7244, joann.rice@ctg.com

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

Verizon Business Receives SearchEnterpriseWAN.com 2009 Product Leadership AwardCompany's Managed WAN Optimization Services Selected for Bronze Award by Prominent Online Trade Publication's Readership

BASKING RIDGE, N.J., April 22 /PRNewswire/ -- Verizon Business' Managed WAN Optimization Services have been recognized with a SearchEnterpriseWAN.com 2009 Product Leadership Award. Verizon Business, which received a Bronze Award in the Product Leadership Awards' WAN optimization/application-delivery category, was the only service provider to receive an award in any category.

Verizon Managed WAN Optimization Services enable enterprises to cost-effectively fine-tune Internet protocol (IP) networks to better manage application performance. The services help enterprises quickly and reliably deliver applications to end users, whether their offices are located around the block or around the globe.

"This award from SearchEnterpriseWAN.com highlights our success in providing large-business and government customers with services that help them operate more efficiently and effectively," said Nancy Gofus, senior vice president - global business products, Verizon. "Verizon Managed WAN Optimization Services enable customers to make the most of existing IP infrastructure to reliably deliver the critical applications that power their operations."

The SearchEnterpriseWAN.com 2009 Product Leadership Awards were chosen by the readership of the prominent online trade publication's readership - specifically, by 500 networking professionals, based on their assessment of products currently deployed within their own WANS. The awards comprise three wide-area networking (WAN) product categories and recognize 10 products that enterprise IT professionals should consider adding to their "A" list of networking products to evaluate.

Participants were asked to evaluate the products according to defined product-specific criteria, with cumulative scores calculated for each product. Editors of SearchEnterpriseWAN.com then used these scores to determine gold, silver and bronze award-winners for the industry's best wide-area networking products.

According to SearchEnterpriseWAN.com, "For network professionals looking to avoid the hassle of deploying appliances on their own, Verizon offers Managed WAN Optimization Services. It scored the highest marks in ability to mitigate network latency, with 61 percent of survey respondents awarding it four or five stars out of five. Our readers described the service as 'state of the art' and 'good, solid service,' with one saying it is 'the best one can expect to have.'"

D. Blair Crump, group president - worldwide sales, Verizon Business, said, "This honor underscores our commitment to delivering high-value services to our enterprise customers. Verizon Managed WAN Optimization Services are another example of our commitment to providing solutions that truly power our customers' operations and help them succeed globally in a highly competitive and dynamic environment."

Verizon Business initially launched the optimization services on the Juniper Networks platform in the U.S. in October 2007 and expanded availability internationally in October 2008. The Cisco Systems platform was made available in the U.S., as well as in many European and Asia-Pacific countries, in October 2008. Both platforms are ideal for geographically dispersed organizations, such as those in the retail, finance and manufacturing sectors.

Verizon Managed WAN Optimization Services are supported by Verizon Business' award-winning IMPACT network management platform, a fully automated system that provides round-the-clock network and application monitoring and fault resolution. IMPACT gathers data that serves as the foundation for monthly reports covering application performance analysis, capacity audits and recommendations for enhancing network efficiency.

Verizon Business manages 270,000-plus security, network and hosting devices across more than 4,000 customer networks spanning 142 countries and territories, overseeing non-Verizon connections from more than 60 network providers worldwide. Through 2,700 specially trained and experienced consultants, Verizon Business also offers a standardized set professional-service capabilities in 30 countries around the globe.

About Verizon Business

Verizon Business, a unit of Verizon Communications , is a global leader in communications and IT solutions. We combine professional expertise with the world's most connected IP network to deliver award-winning communications, IT, information security and network solutions. We securely connect today's extended enterprises of widespread and mobile customers, partners, suppliers and employees - enabling them to increase productivity and efficiency and help preserve the environment. Many of the world's largest businesses and governments - including 96 percent of the Fortune 1000 and thousands of government agencies and educational institutions - rely on our professional and managed services and network technologies to accelerate their business. Find out more at http://www.verizonbusiness.com/.

About SearchEnterpriseWAN.com

SearchEnterpriseWAN.com is one of the largest and most active online communities dedicated to the enterprise wide area network. IT professionals in almost every industry rely on SearchEnterpriseWAN.com for industry news, technical tips and valuable best practices on designing a Wide Area Network, optimizing application performance across the WAN, WAN security and VPN usage, or selecting managed services so they can keep their networks up to date and cope with constant change. More information is available at http://www.searchenterprisewan.com/.

Headquartered in Needham, Mass., SearchEnterpriseWAN.com is part of the TechTarget(R) network (http://www.techtarget.com/). TechTarget publishes integrated media that enable information-technology (IT) marketers to reach targeted communities of IT professionals and executives in all phases of the technology decision-making and purchase process. Through its industry-leading Web sites, magazines and conferences, TechTarget delivers measurable results that help IT marketers generate qualified sales leads, shorten sales cycles and grow revenues.

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

Verizon Business

CONTACT: Kevin W. Irland, Verizon Business ,+1-703-886-1117,
kevin.w.irland@verizon.com

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

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

AT&T Business Solutions Delivers on Network Investments in First Quarter 2009Portfolio Enhancements Provide Strong Platform for Service Customers in '09

DALLAS, April 22 /PRNewswire-FirstCall/ -- AT&T Business Solutions added new services and features to its core portfolio during the first quarter 2009 highlighted by the expansion of the AT&T Telepresence Solution and the introduction of a wireless capability to bring smart grid technology to the residential utility market.

These enhancements and others were among the projects earmarked for the approximately $1 billion investment scheduled for 2009 in the AT&T global network along with new services and network-based applications.

AT&T Business Solutions ended the first quarter 2009 by announcing an enhancement to the industry-leading AT&T Telepresence Solution that will allow companies to connect the solution with their existing H.323 compatible legacy videoconferencing systems, offering a cost-effective solution to utilize historically under-utilized systems. As a result, companies that have made prior investments in video-conferencing technology will now be able to extend the life of their legacy systems. AT&T Business Solutions further announced plans to double the number of Cisco TelePresence(TM) rooms deployed at its locations throughout the U.S. and globally.

Also during the quarter, AT&T Business Solutions teamed up with smart grid solutions provider SmartSynch to launch a new suite of service plans for electric utility companies looking to provide the benefits of smart grid technology to the residential sector. The new solution offers utilities a cost-effective, IP-based, point-to-point configuration model in which 'smart meters' communicate directly with the utility over a wireless network. Following that rollout, Texas-New Mexico Power (TNMP) announced it had selected the SmartSynch/AT&T SmartMeter(TM) solution for a 10,000 unit point-to-point trial deployment to residential customers throughout the utility's Texas market.

In addition, the approximately $1 billion global network investment in 2009 propelled the launch of a one-stop solution for managing and monitoring IT infrastructures remotely regardless of the customer's location. The solution, called AT&T Remote Infrastructure Management, delivers the full range of the business unit's IT infrastructure services to a company's location -- whether it is an in-house company data center, remote office, or even third-party center -- along with on-site servicing of equipment if needed. Among the first quarter international projects funded by the 2009 global network investment was the provisioning of AT&T Global Managed Internet Service in India. The service will help meet the growing demand from multinational customers in India for globally consistent Internet access applications.

"The innovative solutions AT&T Business Solutions brought to market during the first quarter of 2009 are proof that AT&T intends to deliver on our promise to help our business customers transform their operations and remain competitive during these challenging economic times," said Ronald E. Spears, President and CEO, AT&T Business Solutions. "The new services and enhancements to our existing portfolio have set us on a strong pace to continue our goal of working with companies to extend the value of their existing investments, while introducing them to leading-edge technology."

AT&T Business Solutions recorded significant sales wins in the first quarter, including an announcement by the unit's AT&T Government Solutions group of a series of three awards, potentially worth up to $50 million from the Federal Emergency Management Agency (FEMA), to provide voice and data devices for the nationwide FEMA workforce. In February, AT&T Government Solutions also was designated as one of the companies that can compete for task orders through the federal government's five-year, $50 billion Alliant contract under the General Services Administration (GSA). AT&T Government Solutions is the only company to win the right to compete in all of the GSA's flagship contracts -- Alliant, Networx Universal, Networx Enterprise and SATCOM-II contracts.

Other sales wins included a $5 million, three-year contract with BAE Systems Land & Armaments to use the AT&T Telepresence Solution for "in-person" meetings across BAE's global offices. AT&T Business Solutions also inked a two-year renewal for hosted services in North America with Blizzard Entertainment, Inc., a premier developer and publisher of entertainment software including the massively multiplayer online role-playing game World of Warcraft(R).

AT&T Business Solutions provides networking services and solutions for business customers and organizations globally. Its customers include every company listed in the Fortune 1000; large, medium, and small businesses; wholesale customers; and U.S. governmental agencies.

During the first quarter, 2009, AT&T Business Solutions made the following updates to its enterprise portfolio of services for business customers:

Business Voice

TeleBlock(R) Service: AT&T Business Solutions added the TeleBlock call blocking service to its outbound business voice services. This provides a network-based call screening and blocking feature to help telemarketers avoid calling numbers listed on various Do Not Call lists.

Voice Over IP (VoIP)

Expanded Support for AT&T Voice DNA(R) Phones and LAN Equipment: AT&T Business Solutions has increased equipment options available to AT&T Voice DNA customers. This includes certified new phones from Aastra and Polycom, as well as an integrated access device from Edgewater Networks. In addition, the business unit also certified local area network and network customer premises equipment devices including Adtran NetVanta layer 2 switches and add-on NetVanta WiFi Access Point as well as the Nortel BSGX4e Gateway.

Hosting and Applications Services:

Topline ISV Incubation Center Enhancements: AT&T Hosting and Application Services has enhanced its AT&T Topline ISV (Independent Service Vendor) Program in its Annapolis Internet Data Center with an incubation center that will allow software vendors to test their applications for software-as a-service (SaaS) readiness. The platform also provides a demonstration environment for SaaS enabling technologies for ISVs where they can evaluate other technologies to meet their architecture and go to market needs.

Data Services:

International Private Line: AT&T Business Solutions expanded the global reach and capabilities of its International Private Line service with the following:

-- Full- and Half-Channel Services: AT&T Business Solutions extended Full-Channel Service to two new countries - Nicaragua and South Africa, which will support speeds between 64 Kb and STM1(155 Mb) as well as speed expansions to existing Full Channel Service to Guatemala (DS3 and STM1 speeds) and STM4 speed to our Half-Channel Service to China. -- End-to-End STM4/STM16 Non-restorable Service: The business unit deployed the capability to offer End-to-End, Non-restorable Service at STM4 and STM16 speeds for outbound U.S. and country-to-country capability in the EMEA and Asia PAC regions. The solution gives customers lower cost options for non-critical International Private Line applications such as back-up or protection for another circuit. AT&T Business Solutions First-Quarter 2009 Announcements

During the first quarter 2009, the AT&T Business Solutions unit issued these press releases (from most recent):

AT&T Government Solutions Wins Alliant Contract from General Services Administration (March 30)

AT&T Government Solutions ready to serve Information Technology (IT) needs of federal agency customers through Alliant vehicle

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26667

BAE Systems to Enhance Global Collaboration with AT&T Telepresence Solution (March 30)

Participants around the World Can Instantly Connect for an "in-person" Cisco Telepresence Experience

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26662

AT&T Extends Value of Its Telepresence Solution to Companies' Existing Videoconferencing Systems (March 30)

Company also announces 2009 plans to double number of Telepresence rooms worldwide to 50 within AT&T

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26661 Mednet to Offer Wireless Heart Monitoring with AT&T (March 27)

Easy, Real-Time Wireless Monitoring on AT&T's Expansive 3G and EDGE Network

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26659 AT&T Scores Online Hosting Agreement with the NCAA (March 24)

Consolidating Web Infrastructure and Application Management Under One Provider Gives NCAA Student-Athletes and Administrators Reliable Online Experience

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26641

AT&T to Offer Wireless Smart Grid Technology to Utility Companies (March 17)

AT&T combines new service plans with SmartSynch's SmartMetering(TM) solutions to bring smart grid technology to the home

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26613

AT&T Receives Frost & Sullivan's 2009 North American Managed Security Service Providers Customer Value Leadership Award (March 10)

AT&T Recognized for Delivering Best-in-Class Managed Security Services to Growing Customer Base

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26596 AT&T Wins Three ATLANTIC-ACM 2009 U.S. Wholesale Carrier Excellence Awards (March 4) http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26586

AT&T Named Preferred Wireless Carrier for Educational & Institutional Cooperative Purchasing, Inc. (March 3)

Relationship Brings Cost-Effective Wireless Voice and Data Services to More Than 1,600 Higher-Education Organizations

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26583

AT&T Offers Businesses One-Stop Solution to Build and Run Their IT Operations

(March 2)

Remote Infrastructure Management Service Represents Latest Managed Hosting Innovation from AT&T

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26581

AT&T Study: Houston-Area Businesses More Prepared for Disasters After 2008 Hurricane Season (Feb. 23)

AT&T Conducts First Network Disaster Recovery Exercise of 2009 in Houston http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26555

AT&T to Invest $1 Billion in Global Network, Services for Businesses in 2009 (Feb. 23)

AT&T Accelerating Delivery and Management of On-Demand Network Applications

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26554

AT&T Wins Stevie Award for Technology in 2009 Stevie Awards for Sales and Customer Service (Feb. 19)

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26549

AT&T Delivers Network Services to Sonic Automotive Dealerships Nationwide (Feb. 17)

AT&T Helps Leading Automotive Retailer Increase Backup Data Network Speeds and Improve Customer Applications Performance

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26539

AT&T and Sterling Commerce Accelerate Office Depot's Order-Processing Capabilities (Feb. 17)

Software Automates Order Processing and Assists Compliance Efforts at Office Depot

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26538

AT&T Commences Provisioning of AT&T Global Managed Internet Service in India

(Feb. 12) http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26529

AT&T Business Solutions Completes Fourth Quarter with New Features for the AT&T Telepresence Solution and Moves to Expand Its Wi-Fi Capabilities through the Company's Wayport Acquisition (Jan. 28)

Portfolio Enhancements Provide Strong Platform for Growth in '09 http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26506

AT&T Government Solutions Announces $50 Million Wireless Solution Award from FEMA (Jan 26)

Department of Homeland Security Agency Award Requires AT&T to Deploy Smartphone and Mobile Computing Devices for FEMA Workforce

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26496

AT&T Business Solutions Wins Four ATLANTIC-ACM Global Wholesale Carrier Excellence Awards (Jan. 23)

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26528

AT&T Business Solutions Offers WebTech Wireless Mobile Fleet Management Solution for Government Agencies (Jan. 21)

All-In-One Wireless Solution Eases Purchasing, Billing, Budgeting for Fleet Managers

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26485

AT&T Business Solutions and WebTech Wireless Help Largest U.S. Ports Curb Air Pollution (Jan. 21)

The Ports of Los Angeles and Long Beach Adopt Innovative Wireless Vehicle Tracking Solution to Reduce Truck-Related Emissions by up to 80 Percent

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26483

AT&T Business Solutions Alliance Channel Program Honors Top Solution Providers

(Jan. 16)

Solution Provider Champion Award Recognizes Outstanding Performance in Providing Customers with High-Quality Solutions and Services

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26481

Evolving Systems Taps AT&T Business Solutions for Global Networking Services (Jan. 8)

New Contract Expands Two-Way Business Relationship between the Two Companies

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26456

Fujitsu Signs AT&T Managed Networking Services Contract for Telepresence Deployment (Jan. 7)

Global Company Continues Its Commitment to Safeguard the Environment http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26453

AT&T Business Solutions Receives Wholesale Company and Product of the Year Awards from Frost & Sullivan (Jan. 6)

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26446 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/.

(C) 2009 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

Cautionary Language Concerning Forward-Looking Statements

Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.

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

AT&T Inc.

CONTACT: Michael Lordi, +1-908-234-6071, Mobile, +1-908-329-4854,
mlordi@attnews.us, for AT&T; or Janet Wyles of AT&T, +1-908-234-6067, Mobile,
+1-732-331-6754, wyles@att.com

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

OpenAir Dominates Professional Services Automation Market With Highest Market ShareSPI's Independent Study of 170 PS Organizations Validates OpenAir's Leadership PositionKey Findings Include: By Using OpenAir Companies Gain a 30% Increase in Project Margins While Reducing Project Cancellations by 40%

BOSTON, April 22 /PRNewswire-FirstCall/ -- OpenAir, Inc., a NetSuite Inc. company and a leading provider of on-demand professional services automation (PSA) software, today announced the results released in an independent research study by SPI Research, a leading services research firm conducting research studies that provide insight into how services-driven organizations can operate more efficiently.

In the white paper "Measuring the Value of Application Integration for Service Organizations," SPI Research outlines the key findings of its recent Professional Services Maturity Model study. According to SPI Research's study:

-- OpenAir/NetSuite had the highest market share among leading PSA providers - 19% (31 out of 170 organizations), which was more than two times higher than the market share of the next highest PSA vendor. -- SPI Research found that firms that use a PSA solution such as OpenAir/NetSuite experience at least a 30% increase in project margins, a 30% increase in the number of projects that can be managed concurrently by a project manager (PM) (4.5 versus 3.5) and a 42% decrease in project cancellations (2.6% versus 3.7%) compared to firms that do not use a PSA solution. -- Furthermore, SPI Research's study found that firms that use a PSA solution such as OpenAir integrated with their core financial applications experience at least a 6% increase in utilization (67.1% versus 60.9%) compared to firms that do not have a PSA solution.

To download this white paper please go to http://www.netsuite.com/OpenAirResearchStudy.

The benchmark study also showed a number of areas where OpenAir's customers showed superior performance compared to the benchmark average. Specifically, OpenAir clients experienced a higher percentage of billable employees vs. the survey average (74.3% vs. 67.9%) and lower project cancellation rates (1.2% vs. 1.8%) while achieving a greater percentage of revenue (101.9% vs. 95.8%) and margin targets (97.1% vs. 89.2%) vs. the survey average.

"SPI Research's Professional Services Maturity Model study validates the benefits that our clients have been experiencing for years from using OpenAir to automate their services businesses," said Morris Panner, CEO of OpenAir. "Higher resource utilization, improved project margins and increased operating efficiency are just a few of the many direct benefits that services companies realize from using OpenAir."

The white paper "Measuring the Value of Application Integration for Service Organizations" is based on the 2009 PS Maturity Model by SPI Research, which provides benchmark information from 170 PS organizations (105 embedded and 65 independent) ranging in size from very small to the largest U.S.-based consulting organizations. Surveys were completed in Q4 2008. The report includes 168 pages with chapters on each of the five service performance pillars, New Maturity definitions for Leadership, IT, Resource Management and PMO as well as Key Performance Measurements segmented by PS organization size (9 segments). For more information about the report and SPI Research please visit http://www.spiresearch.com/.

About OpenAir

OpenAir, Inc., a NetSuite Inc. company, is a leading provider of Software as a Service (SaaS) services automation software. Offering both professional services automation (PSA) and project portfolio management (PPM) solutions, OpenAir provides project-based organizations and firms the tools they need to grow their businesses quickly and profitably. Providing enterprise-level functionality for businesses of all sizes, OpenAir has more than 45,000 active users at over 350 world-class firms using the software to better capture billable time, manage projects and resources and bill customers. Coupled with a team of highly experienced consultants from some of the world's leading services firms, OpenAir's services automation solutions drive higher profits through improved utilization, visibility and data collection. To learn more, please visit http://www.openair.com/

(Logo: http://www.newscom.com/cgi-bin/prnh/20021024/SFTH024LOGO)

Photo: http://www.newscom.com/cgi-bin/prnh/20021024/SFTH024LOGO
http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com NetSuite Inc.

CONTACT: Mei Li of NetSuite Inc., +1-650-627-1063, meili@netsuite.com;
or Brian Martin of OpenAir, Inc., +1-617-351-0236, bmartin@openair.com

Web Site: http://www.openair.com/
http://www.netsuite.com/

Handelsbanken Offers 21st Century Banking Services Using IBM and Red Hat Solutions

ARMONK, N.Y. and RALEIGH, N.C., April 22 /PRNewswire-FirstCall/ -- IBM and Red Hat , a leading provider of open source solutions, today announced that Handelsbanken, one of the four largest banks in the Nordic Area, has achieved strong business continuity, security and cost-efficiency results by deploying virtualization technology using Red Hat Enterprise Linux on System z servers and IBM System z operating system, z/OS. The bank's newly deployed technology solution will help maintain a highly resilient and secure network that scales based on business demands.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO )

Today's announcement comes at a pivotal time for Handelsbanken as the bank continues its path as one of Europe's most innovative lending organizations with Internet banking features, such as unique branch office web sites and direct email addresses to each branch site for enhanced customer service. Handelsbanken joins the world's top 50 banks that currently call upon the IBM System z server to run their banking transactions.

"Customers entrust us with their hard earned savings so it's paramount that we select one of the industry's most powerful and secure servers - the IBM System z," said Roger Rydberg, technical manager at Handelsbanken. "System z servers are 'almost perfect' because of its availability and performance. It allows us to keep up with business climate changes because we can add or eliminate capacity any time based on customer demands. We can even make changes easily without having to stop any services."

"One of the main reasons for us to standardize our Linux environment on Red Hat Enterprise Linux was the ability to lower costs and use our IT personnel more effectively by leveraging the solution's integrated virtualization functionality. We can now fully harness and utilize the knowledge and experience of our IT staff who manage our existing distributed Red Hat Enterprise Linux systems for our System z environment," said Peter ter Laag, Central Data Department at Handelsbanken.

The bank's virtualized environment has helped to lower costs by minimizing the need for additional systems that require more energy and space, translating into a greener IT infrastructure. The combination of Red Hat and IBM solutions has helped the bank move closer to meeting its greener computing initiatives.

To maintain business operations for Handelsbanken's 660 branch offices across Sweden, Great Britain and the Nordic countries to run smoothly, the bank utilizes Parallel Sysplex IBM's System z clustering technology and IBM's availability and disaster recovery solution branded as GDPS (Geographically Dispersed Parallel Sysplex). Parallel Sysplex and GDPS together allows Handelsbanken to run its System z mainframes as highly powerful "clustered" servers that move new work requests to the available resources so that even planned or un-planned outages in multiple and distant data centers have little to no impact on business operations. Known for its ability to share system resources with one of the highest degrees of efficiency among other systems, the System z mainframe can consolidate hundreds of virtual servers into a single mainframe - allowing customers like Handelsbanken to run critical customer transactions in the midst of executing other strategic IT projects. Handelsbanken currently runs GDPS version 3.5. IBM most recently released Version 3.6.

In addition to standardizing its Linux systems on Red Hat Enterprise Linux for its virtualization technology and benefits of scalability, performance and reduced costs, Handelsbanken also utilizes the System z operating system, z/OS, to perform ongoing simplification features and health-checking mechanisms. The bank's infrastructure also includes extensive use of innovative policy-based networking services across multiple z/OS-based networks. Built-in automated reporting capabilities help Handelsbanken manage countless workloads and network traffic across its systems. Handelsbanken currently runs z/OS version 1.10, the latest release of the operating system.

"Most important for Handelsbanken is that we can achieve all the benefits of virtualized systems, while still maintaining a secure and flexible environment with high availability and reliability through Red Hat Enterprise Linux. These elements are extremely important to our business, especially when running transaction intensive applications. Red Hat Enterprise Linux on System z has helped us meet mission-critical needs for our organization," said ter Laag.

For more information about IBM System z mainframes, please visit http://www.ibm.com/systems/z.

For more information about Red Hat, visit http://www.redhat.com/. For more press, more often, visit http://www.press.redhat.com/.

For more information about Handelsbanken, please visit http://www.handelsbanken.se/.

About Red Hat, Inc.

Red Hat, the world's leading open source solutions provider, is headquartered in Raleigh, NC with over 65 offices spanning the globe. CIOs ranked Red Hat as one of the top vendors delivering value in Enterprise Software for five consecutive years in the CIO Insight Magazine Vendor Value survey. Red Hat provides high-quality, affordable technology with its operating system platform, Red Hat Enterprise Linux, together with applications, management and Services Oriented Architecture (SOA) solutions, including JBoss Enterprise Middleware. Red Hat also offers support, training and consulting services to its customers worldwide. Learn more: http://www.redhat.com/.

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to delays or reductions in information technology spending, the integration of acquisitions and the ability to market successfully acquired technologies and products; the ability of the Company to effectively compete; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; the ability to deliver and stimulate demand for new products and technological innovations on a timely basis; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company's growth and international operations; fluctuations in exchange rates; adverse results in litigation; and changes in and a dependence on key personnel, as well as other factors contained in our most recent Quarterly Report on Form 10-Q (copies of which may be accessed through the Securities and Exchange Commission's website at http://www.sec.gov/), including those found therein under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.

LINUX is a trademark of Linus Torvalds. RED HAT and JBOSS are registered trademarks of Red Hat, Inc. and its subsidiaries in the US and other countries.

IBM Mylissa Tsai System z Media Relations Email: tsaim@us.ibm.com Phone: 1-917-472-3680 Red Hat Red Hat Corporate Communications Email: kcatallo@redhat.com Phone: 919-754-4268

Photo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com IBM

CONTACT: Mylissa Tsai, IBM, System z Media Relations, +1-917-472-3680,
tsaim@us.ibm.com; or Red Hat Corporate Communications, +1-919-754-4268,
kcatallo@redhat.com

Web Site: http://www.ibm.com/systems/z

Alcatel-Lucent Achieves RSA Secured(R) Partner Program Certification for Its Mobile Security Platform

PARIS, April 22 /PRNewswire-FirstCall/ -- Alcatel-Lucent (Euronext Paris and NYSE: ALU) today announced it has joined the RSA Secured(R) Partner Program, which means that Alcatel-Lucent's mobile security solution for enterprises can offer even more security for the mobile workforce by leveraging the industry-leading RSA SecurID(R) two-factor authentication system designed for secure and remote network access.

This certification signifies that Alcatel-Lucent is working with RSA, The Security Division of EMC , to help ensure increased security and compatibility of the solutions available for joint customers. It validates technical interoperability has been proven between the innovative Alcatel-Lucent OmniAccess 3500 Nonstop Laptop Guardian (NLG) and the RSA SecurID system. There are currently over 40 million users of RSA SecurID, spanning across 30,000 organizations worldwide.

The RSA SecurID two-factor authentication system is as simple to use as entering a password, but significantly more secure. The OmniAccess 3500 Nonstop Laptop Guardian enables enterprises to securely manage and track laptops, ensuring that corporate data is not compromised by a lost or stolen laptop. A technical integration between the two solutions further tightens security for enterprise networks.

The OmniAccess 3500 Nonstop Laptop Guardian mobile security platform leverages 3G networks, a self-powered computing system and an automatic Virtual Private Network (VPN).

"We are pleased that Alcatel-Lucent has achieved interoperability between RSA SecurID technology and its OmniAccess 3500 Nonstop Laptop Guardian since it is more critical than ever for enterprises to increase the security of valuable corporate information no matter where it lives or how it is accessed," said D.J. Long, Senior Director, Corporate Development at RSA. "This is a natural fit as both organizations are committed to helping customers mitigate risk to sensitive information throughout its lifecycle to ensure that it is always an asset and not a liability."

More information about the wide range of Alcatel-Lucent security solutions is available online. Additionally, Alcatel-Lucent will be at RSA Conference 2009 April 21-23 at booth #317.

About the RSA Secured Partner Program:

The RSA Secured Partner Program is one of the largest alliance programs of its type, bringing over a dozen years of experience and hundreds of complementary solutions together. RSA SecurID(R), RSA(R) Access Manager, RSA(R) Digital Certificate Manager, RSA(R) Federated Identity Manager and RSA(R) Key Manager certification programs bring added assurance to customers that the solutions they are deploying are certified as interoperable with industry leading products, helping them achieve faster time to deployment and lower overall cost of ownership. The RSA Secured Partner Program reflects RSA's commitment to providing standards-based interoperability and mutual vendor support to customers using its identity assurance and access management solutions. For more information, please visit http://www.rsa.com/node.aspx?id=1296.

About Alcatel-Lucent's OmniAccess 3500 Nonstop Laptop Guardian technology

Invented by Bell Labs and incubated within Alcatel-Lucent Ventures, Alcatel-Lucent has created the OmniAccess 3500 Nonstop Laptop Guardian, always-on mobile security solution card that remotely secures, monitors, manages and locates a mobile computer and protects laptops and the data that resides on them. The Nonstop Laptop Guardian has its own processor, power supply and operating system, and it leverages 3G wireless broadband networks and GPS to let enterprises manage laptops anywhere, anytime, even when the computer is turned off.

The product enables IT managers to automatically enforce policies for compliance and deliver software patches and upgrades to their increasingly mobile workforce even if the laptop is turned off. Global Certification Forum (GCF) certified, meeting GSM device standards in addition to federal and European standards, FCC and CE.

The Alcatel-Lucent OmniAccess 3500 Nonstop Laptop guardian supports the dynamic enterprise vision by interconnecting networks, people, process and knowledge to provide competitive advantage through improved communications.

For more information about the OmniAccess 3500 Nonstop Laptop Guardian please see http://www.alcatel-lucent.com/nlg

About Alcatel-Lucent

Alcatel-Lucent (Euronext Paris and NYSE: ALU) is the trusted partner of service providers, enterprises and governments worldwide, providing solutions to deliver voice, data and video communication services to end-users. A leader in fixed, mobile and converged broadband networking, IP technologies, applications and services, Alcatel-Lucent leverages the unrivalled technical and scientific expertise of Bell Labs, one of the largest innovation powerhouses in the communications industry. With operations in more than 130 countries and the most experienced global services organization in the industry, Alcatel-Lucent is a local partner with a global reach. Alcatel-Lucent achieved revenues of Euro 16.98 billion in 2008 and is incorporated in France, with executive offices located in Paris. For more information, visit Alcatel-Lucent on the Internet: http://www.alcatel-lucent.com/

RSA, Secured, and SecurID are registered trademarks of RSA Security, Inc. in the U.S. and/or other countries. EMC is a registered trademark of EMC Corporation. Other product and company names mentioned herein may be trademarks of their respective owners.

Alcatel-Lucent

CONTACT: Media, Regine Coqueran, +33(0)1-40-76-49-24,
regine.coqueran@alcatel-lucent.com, or Mary Ward, +1-908-582-7658,
maryward@alcatel-lucent.com, or Tracy Dupree, +1-818-620-4743,
tracy.dupree@alcatel-lucent.com, or Investor Relations, Remi Thomas,
+33(0)1-40-76-50-61, remi.thomas@alcatel-lucent.com, or Tom Bevilacqua,
+1-908-582-7998, bevilacqua@alcatel-lucent.com, or Tony Lucido,
+33(0)1-40-76-49-80, alucido@alcatel-lucent.com, Don Sweeney, +1-908-582-6153,
dsweeney@alcatel-lucent.com, all of Alcatel-Lucent

Web Site: http://www.alcatel-lucent.com/

Verizon Teams With Regional Mexican Musical Legends Los Tigres del NorteMulti-Tiered Relationship between Mobile Music Leader, Verizon, and Famed Norteno Performers, Los Tigres del Norte, Includes Exclusives on V CAST Music, Contests for Private Concerts, In-Store Appearances and More

BASKING RIDGE, N.J., and MIAMI, April 22 /PRNewswire/ -- Reaching out to the broad fan base for Latin music, Verizon today announced an expansive relationship with Fonovisa/UMLE recording artists, Los Tigres del Norte, the multiple GRAMMY(R) and Latin GRAMMY(R)-award winning group known to fans around the globe as one of the world's most popular regional Mexican bands. The announcement was made at the Billboard Latin Music Conference being held in Miami this week.

Beginning this summer, select music from Los Tigres del Norte's forthcoming album will be available exclusively to Verizon Wireless V CAST Music customers in the form of a four-song Mobile EP. Verizon will also be a sponsor of the band's tour dates in the United States, and the band will make select in-store appearances at Verizon Wireless Communications Stores across the country.

Fans can also look forward to the opportunity to enter a contest to win a private Los Tigres del Norte performance as well as more promotions during the year that will allow them to interact with the band and its music through their Verizon mobile phones.

"Latin and Hispanic music is an important genre for Verizon, and we are excited to work with and feature the legendary Los Tigres del Norte and bring more of their music to our customers," said Ed Ruth, director of digital music at Verizon. "As the band moves into the next phase of an astounding career, Verizon will be there to help them communicate with their fans using the latest in mobile technology."

"Communication is what our songs have always been about," says Los Tigres del Norte front man Jorge Hernandez. "We've always sought to sing songs that tell the stories of our fans. It's important for us to keep in close contact with them and thanks to Verizon we will be able to do that in new and innovative ways."

"Universal Music Group, which distributes Los Tigres del Norte's music, is committed to offering consumers the ability to enjoy music in many forms across a variety of different platforms," stated Amanda Marks, executive vice president and general manager of Universal Music Distribution. "And our partnership with Verizon exemplifies just one of the many new and exciting business models we are utilizing to fulfill this demand, while at the same time, expanding the digital playing field further for our artists and creating new revenue streams. We're delighted to be working with Verizon, which has been and remains an excellent partner, and with Los Tigres del Norte to help grow the mobile music business, particularly in the Latin market where mobile plays such an important role."

"At Fonovisa we are thrilled to have Los Tigres del Norte to join with Verizon to build an unprecedented mobile-driven campaign in support of their new album and tour. Regional Mexican continues to be the leading genre within Latin music in the U.S. and this campaign is a major step in consolidating the genre's positioning in the digital music world," said Gustavo Lopez, president of Fonovisa & Disa.

Hailed by The New York Times as "[Regional Mexican] music's greatest statesmen," Los Tigres del Norte has recorded more than 500 songs over the course of nearly 60 albums and sold more than 35 million albums worldwide. The group has also received multiple GRAMMY and Latin GRAMMY awards, and were awarded the Latin Recording Academy's Lifetime Achievement Award in 2007. Hailing from Rosa Morda, Sinaloa, Mexico, the band, comprised of brothers Jorge, Hernan, Edurado, and Luis Hernandez, plus cousin Oscar Lara, came to the United States in the late 1960s. The look of determination on their faces caused a border guard to dub them Los Tigres del Norte, or "The Tigers of the North." From their very beginning, the band has chronicled real-life stories of love and hardship, many of them passed on by their fans, others researched like a newspaper story. Their gritty realism and plain-spokenness led Billboard magazine to say, "Los Tigres del Norte are not just another popular musical act... Instead they're widely viewed as the voice of the people."

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. For more information on Los Tigres del Norte, visit http://www.lostigresdelnorte.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.

About Universal Music Latin Entertainment

Universal Music Latin Entertainment (UMLE) is comprised of Universal Music Latino, Machete, Fonovisa, Disa, Universal Music Mexico & Central America, the Edimonsa, Disa, Fonovisa and Universal Latin publishing catalogs, and GTS Global Talent Services, a management service division. UMLE is a division of Universal Music Group, the world's leading music company with wholly owned record operations or licensees in 77 countries. Its businesses also include Universal Music Publishing Group, the industry's leading global music publishing operation.

Universal Music Group's record labels include Decca, Deutsche Grammophon, Disa, Emarcy, Fonovisa, Interscope Geffen A&M Records, Island Def Jam Music Group, Lost Highway Records, Machete Music, MCA Nashville, Mercury Nashville, Mercury Records, Philips, Polydor Records, Universal Motown Republic Group, Universal Music Latino, Universal Records South, and Verve Music Group as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalog of music in the industry, which includes the last 100 years of the world's most popular artists and their recordings. UMG's catalog is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and Universal Strategic Marketing (outside the U.S.). Universal Music Group also includes eLabs, its new media and technologies division; Bravado, its merchandising company; Twenty-First Artists, its full service management division; and Helter Skelter, its live music agency.

Universal Music Group is a unit of Vivendi, a global media and communications company.

Verizon Wireless

CONTACT: Debra Lewis of Verizon Wireless, +1-908-559-7512,
Debra.Lewis@verizonwireless.com; or John Reilly of Rogers and Cowan for Los
Tigres del Norte, +1-212-445-8440, jreilly@rogersandcowan.com; or Iris Corral
of Fonovisa / Universal Music Latin Entertainment, Iris.corral@umusic.com

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

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

ActiveMine(TM) now fully approved by MSHATSX-V: ACT- U.S. Federal Regulator approves ActiveMine's wireless Wi-Fi phones - MSHA approval process now concluded - all underground coal mine installations can proceed

TORONTO, April 22 /PRNewswire-FirstCall/ -- Active Control Technology Inc. (TSX-V:ACT) announced today that the U.S. Federal Mine Safety and Health Administration (MSHA) has fully approved ActiveMine(TM), the premier wireless voice communications and locating system for mines.

MSHA today approved ActiveMine's wireless Wi-Fi phones - the final system component to be approved for use in all areas of underground coal mines. This clears the final regulatory condition for all previously announced installations to proceed and paves the way to additional sales opportunities.

"This is great news for customers who want to get the productivity and safety benefits of ActiveMine to work as quickly as possible in their mines," said Steve Barrett, President and CEO, Active Control. "We thank customers for their confidence in ActiveMine's successful approval, and MSHA for their assistance throughout the process."

The completion of ActiveMine MSHA approvals comes approximately two months before the June 15, 2009 MINER Act deadline for all underground coal mines in the U.S. to submit mine safety plans that include provisions for wireless two-way communication and electronic tracking. There are approximately 650 underground coal mines in the U.S.

Barrett remarked, "We look forward to working with many potential customers that have been anticipating our final approvals before finalizing their purchase decision."

About ActiveMine

The ActiveMine communications, data and tracking system enables monitoring of production, personnel and equipment in all types of surface and underground mining environments, including coal and hard rock mines. ActiveMine is positioned to bring to mining what the Internet brought to the world. The system is designed to:

- Provide the world's first standards-based Wi-Fi + IP network for the underground mining industry with a 54Mb wireless backhaul. - Provide full duplex, clear voice communications and tracking as required by law in US underground coal mines. - Provide ample bandwidth to move existing legacy applications onto a single standards-based network, eliminating multiple proprietary networks. - Enable the deployment of an unprecedented array of new IP-based applications in mines - applications that are not possible with current proprietary and antiquated wired networks. - Enable the deployment of any Wi-Fi device in mines, thereby driving the availability of new devices, controlling costs, and freeing mine operators from being locked into proprietary technology. About Active Control Technology

Active Control Technology is a mining services company specializing in advanced wireless productivity and safety systems. The company's ActiveMine system provides two-way wireless voice communication, real-time tracking of personnel and assets, and high bandwidth data applications such as streaming video and operational data from mining machinery, over a robust wireless Wi-Fi network. Located in Burlington, Ontario, Canada, Active Control trades publicly on the TSX Venture Exchange under the symbol ACT. For more information, visit http://www.activecontrol.com/.

Get more out of your mine(TM) Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as changes in demand for and prices for the products of the Company or the materials required to produce those products, labour relations problems, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.

Active Control Technology Inc.

CONTACT: Steve Barrett, President & CEO, Active Control Technology,
Tel.: (905) 635-3130, Email: sbarrett@activecontrol.com; Media inquiries: Don
Hogarth, Tel.: (416) 565-8920, Email: don@hogarthpr.com

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News archive of December 2009
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