California Micro Devices to Present at Upcoming Financial ConferencesAeA Micro Cap Financial ConferenceJMP Securities Research Conference

MILPITAS, Calif., April 28 /PRNewswire-FirstCall/ -- California Micro Devices today announced that Robert V. Dickinson, President and Chief Executive Officer, and Kevin Berry, Chief Financial Officer, will present at the following financial conferences:

AeA Micro Cap Financial Conference-May 5, 2009, Monterey, CA

Management is scheduled to present at approximately 9:24 a.m. Pacific Time during the general session on Tuesday, May 5, 2009 at the Monterey Plaza Hotel in the Monterey Ballroom. Following the company's presentation, Mr. Dickinson, Mr. Berry and Mr. Baker, Vice President Marketing, will be available to meet with investors in room #2313. A live Web cast of California Micro Devices' presentation may be accessed at the Company's corporate Web site (Investor Relations Link), at http://www.cmd.com/ at 11:15 a.m. PST on May 5, 2009.

JMP Securities 8th Annual Research Conference-May 19, 2009, San Francisco, CA

Management is scheduled to present on Tuesday, May 19, 2009 at 11:30 a.m. Pacific Time at the Ritz-Carlton Hotel and will be available to meet with interested investors throughout the day. Portfolio managers and analysts can request a meeting with management by contacting Sandy Mateus at Smateus@LJFevents.com or a JMP representative. A live Web cast of California Micro Devices' presentation may be accessed at the Company's corporate Web site (Investor Relations Link), at http://www.cmd.com/ at 11:30 a.m. Pacific Time on Tuesday, May 19, 2009.

Access to the replay of each presentation will be available for approximately 90 days beginning one hour after the live Web casts.

About California Micro Devices Corporation

California Micro Devices Corporation is a leading supplier of application specific analog and mixed signal semiconductor products for the mobile handset, digital consumer electronics and personal computer markets. Key products include protection devices for mobile handsets, digital consumer electronics products such as digital TVs, and personal computers as well as analog and mixed signal ICs for mobile handset displays. Detailed corporate and product information may be accessed at http://www.cmd.com/.

California Micro Devices Corporation

CONTACT: Kevin Berry, Chief Financial Officer of California Micro
Devices Corporation, +1-408-934-3197, kevinb@cmd.com

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

CTG Expands Operating Margin and Maintains EPS at $0.09 on Lower Revenue in the 2009 First QuarterREVENUE AND EARNINGS AT HIGH END OF GUIDANCE- Operating margin expanded 50 basis points from 2008 first quarter- Healthcare business was 27% of revenue- Strong balance sheet with nearly $8 million in cash and no debt at quarter-end- Full year EPS guidance maintained on reduced revenue guidance

BUFFALO, N.Y., April 28 /PRNewswire-FirstCall/ -- CTG , an international information technology (IT) solutions and services company, today announced its financial results for the 2009 first quarter which ended on April 3, 2009. In the 2009 first quarter, more profitable solutions work and disciplined cost management produced modest margin expansion over last year while mitigating the impact of lower revenue on earnings.

CTG reported 2009 first quarter revenue of $74.6 million, a 14.0% decrease from 2008 first quarter revenue of $86.7 million. Despite lower revenue, CTG's operating income remained flat at $2.4 million while its operating margin expanded to 3.2%, a 50 basis point improvement from 2.7% in the 2008 first quarter. CTG's net income was $1.3 million, 7.3% less than 2008 first quarter net income of $1.4 million. On a per diluted share basis, net income remained unchanged at $0.09.

"Given the overall weakness in the economy, we believe that our ability to report revenue and earnings at the high end of our guidance and a higher operating margin than last year is evidence of the strength of our business and operating flexibility," CTG Chairman and Chief Executive Officer James R. Boldt said. "As expected, our financial results were affected by declines in demand for both our staffing and solutions services in the quarter, a trend we expect to continue into the second quarter followed by improvement in the second half of the year."

Mr. Boldt continued, "CTG's strength in healthcare IT and the increasing profitability of our solutions projects are helping us perform better than many of our competitors in this challenging economic environment. Our financial discipline also contributed further to our earnings stability and balance sheet strength at a time of lower market demand. We continue to move forward with our strategy to grow our strong healthcare IT business and build our portfolio of breakthrough solutions primarily targeted to the healthcare market."

2009 First Quarter Review

Solutions revenue decreased by $5.3 million, or 18.1%, to $24.2 million or 32% of total revenue, in the 2009 first quarter. Staffing revenue declined by $6.8 million, or 11.9%, to $50.4 million, or 68% of total revenue, with the managed staffing services component remaining the primary contributor to the revenue from this business. European revenue was $17.7 million, or 23.7% of total revenue in the 2009 first quarter, down 6.9% from the prior year first quarter. Revenue in the 2009 first quarter was unfavorably affected by $2.8 million from foreign currency exchange fluctuations when compared with the year-ago quarter. There were 66 billing days in the 2009 first quarter compared with 63 billing days in the 2008 first quarter.

Selling, general, and administrative (SG&A) expenses were $14.3 million, or 19.2% of revenue, compared with $16.4 million, or 18.9% of revenue, in the 2008 first quarter. The increase in SG&A as a percentage of revenue reflects lower revenue which was largely offset by disciplined cost control and reductions in overhead expenses primarily tied to lower staffing demand.

The Company recorded equity-based compensation expense, net of tax, of $0.1 million in both the 2009 and 2008 first quarters, which reduced net income per diluted share by $0.01 in each of the respective quarters.

In the 2009 first quarter, the Company recorded a $0.1 million unfavorable effect from currency exchange on intercompany borrowings which is included in other expense.

CTG's effective tax rate for the 2009 first quarter was 42.3% compared with 39.8% in the 2008 first quarter. The Company currently projects a tax rate of approximately 42% for the 2009 full year.

The Company used cash from operations of $0.4 million in the 2009 first quarter compared with cash used from operations of $0.3 million in the 2008 first quarter. At April 3, 2009, the Company had $7.9 million in cash and no outstanding debt, compared with $4.7 million in cash and $2.6 million in debt at 2008 first quarter-end. CTG finances its working capital needs through a $35 million revolving credit agreement that is in place through April 2011.

Mr. Boldt commented, "Profitable operations, excellent cash flow, quality receivables, and a strong balance sheet all position CTG favorably as we continue to have the liquidity and access to credit to fund our business needs, growth plans, and our stock repurchase program. Notably, at quarter-end, we had almost $8 million in cash and no debt despite the quarter ending on a payroll date."

Stock Repurchase Program

CTG repurchased 173,000 of its shares in the 2009 first quarter. In April 2009, the Company extended its 10b5-1 stock repurchase plan to facilitate the repurchase of its common stock during its self-imposed blackout periods prior to the announcement of quarterly results. On April 28, 2009, approximately 1.1 million shares were available for repurchase by the Company under its current repurchase authorizations.

Second Quarter and Annual Guidance

Based on the Company's current business activity and pipeline, CTG expects its 2009 second quarter revenue to range from $66.5 million to $68.5 million, a 28% decrease from 2008 at the midpoint of this range. The Company projects 2009 second quarter net income per diluted share of $0.07 to $0.09, a 38% decrease from 2008 at the midpoint of this range. There are 63 billing days in the 2009 second quarter compared with 64 billing days in the 2008 second quarter.

CTG has reduced its 2009 full-year revenue guidance by $10 million and now expects that its revenue for the full year will range from $275 million to $295 million, a 19% decrease from 2008 at the midpoint of this range. The Company has not changed its initial 2009 earnings guidance projecting net income per diluted share of $0.30 to $0.40, a 29% decrease from 2008 at the midpoint of this range, or a 24% decrease from 2008 when the 2008 fourth quarter exchange gain is excluded.

Mr. Boldt commented, "While we are reducing our revenue guidance for the year, we are maintaining our 2009 earnings guidance based on the higher profitability of our recent solutions offerings and the forward-looking actions we took to align our cost structure with lower revenue. Guidance for the second quarter reflects the full impact from previously announced reductions in our staffing business in addition to further reductions in staffing and solutions headcount that occurred in the first quarter."

CTG Favorably Positioned for 2009 Second Half and Beyond

Mr. Boldt concluded, "There are a number of factors that point to our expectation of quarterly results in the second half of 2009 improving from our second quarter forecast. Among these are stable demand in our staffing business over the last month, improved proposal activity in our solutions business particularly for electronic medical records (EMR) projects, and the benefit of the federal stimulus package on healthcare IT spending expected later in the year. EMRs are a long-term opportunity that CTG is already favorably positioned to capitalize on based on our provider and communitywide EMR work, which was 7% of our 2008 revenue.

For now, CTG's continued profitability and strong financial position during this major recession are important indicators of the strength of our business. These strengths are also favorable indicators of the growth and earnings potential of CTG's business when the economy recovers and as we further advance our strategy to increase higher margin solutions work and to expand our healthcare IT business that is already contributing over 25% to our revenue."

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 2,700 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/.

Safe Harbor Statement

This document contains certain forward-looking statements concerning the Company's current expectations as to future growth. These statements are based upon a review of industry reports, current business conditions in the areas where the Company does business, the availability of qualified professional staff, the demand for the Company's services, and other factors that involve risk and uncertainty. As such, actual results may differ materially in response to a change in such factors. Such forward-looking statements should be read in conjunction with the Company's disclosures set forth in the Company's 2008 Form 10-K, which is incorporated by reference. The Company assumes no obligation to update the forward-looking information contained in this release.

Conference Call and Webcast

CTG will hold a conference call on Wednesday April 29, 2009 at 10:00 AM Eastern Time to discuss its financial results and business strategy. 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 AM and 9:50 AM and 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.

Financial statements follow. CONTACTS: Investors and Media: James R. Boldt, Chairman & Chief Executive Officer (716) 887-7244 Investors: Brendan Harrington, Chief Financial Officer (716) 888-3634 COMPUTER TASK GROUP, INCORPORATED (CTG) Condensed Consolidated Statements of Income (Unaudited) (amounts in thousands except per share data) For the Quarter Ended April 3, March 28, 2009 2008 Revenue $74,556 $86,683 Direct costs 57,836 67,941 Selling, general and administrative expenses 14,313 16,360 Operating income 2,407 2,382 Other expense, net (151) (48) Income before income taxes 2,256 2,334 Provision for income taxes 954 930 Net income $1,302 $1,404 Net income per share: Basic $0.09 $0.09 Diluted $0.09 $0.09 Weighted average shares outstanding: Basic 14,943 15,535 Diluted 15,046 15,933 COMPUTER TASK GROUP, INCORPORATED (CTG) Condensed Consolidated Balance Sheets (Unaudited) (amounts in thousands) April 3, March 28, April 3, March 28, 2009 2008 2009 2008 Current Assets: Current Liabilities: Cash and cash equivalents $7,891 $4,743 Accounts payable $6,266 $10,448 Accounts receivable, Accrued net 46,380 59,182 compensation 20,841 24,265 Other current Other current assets 3,844 4,780 liabilities 6,421 7,608 Total Current Total Current Assets 58,115 68,705 Liabilities 33,528 42,321 Property and equipment, net 7,118 6,275 Long-term debt - 2,645 Goodwill 35,678 35,678 Other liabilities 8,864 9,247 Shareholders' Other assets 9,442 9,814 equity 67,961 66,259 Total Liabilities and Shareholders' Total Assets $110,353 $120,472 Equity $110,353 $120,472

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

CTG

CONTACT: Investors and Media, James R. Boldt, Chairman & Chief Executive
Officer, +1-716-887-7244, or investors, Brendan Harrington, Chief Financial
Officer, +1-716-888-3634, both of CTG

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

Entrust Announces Financial Results for First-Quarter 2009- Total revenues of $22.6 million, a decrease of 12% over Q1 2008- Product revenues of $9.4 million, a decrease of 2% over Q1 2008- Deferred revenue increased to $29.5 million, a 2% increase from Q1 2008- Entrust recorded a net income for the quarter, calculated in accordance with GAAP, of $1.8 million, or $0.03 per share- Cash and Cash Equivalents increased to $26.6 million, an increase of $3.8 million over Q1 2008

DALLAS, April 28 /PRNewswire-FirstCall/ -- Entrust, Inc. , a world leader in securing digital identities and information, today announced financial results for its fiscal quarter ended March 31, 2009.

Revenues for the first quarter were $22.6 million, a decrease of 12 percent from $25.8 million in Q1 2008. Revenues were impacted by a strong U.S. dollar in Q1 2009. As a result, adjusted for currency, total revenues were $25.3 million, a decrease of 2 percent from Q1 2008. Product revenue decreased to $9.4 million in the quarter, a decrease of 2 percent from $9.6 million in Q1 2008. Product revenues adjusted for currency were $10.6 million, an increase of 10 percent over Q1 2008. The revenue figures, as adjusted for currency, are calculated based upon the actual currency rates in the comparable period.

Deferred revenue increased 2 percent in the quarter to approximately $29.5 million versus Q1 2008. Deferred revenues adjusted for currency were $33.4 million, an increase of 16 percent from Q1 2008 and an increase of 7 percent from Q4 2008. Services accounted for approximately 58 percent ($13.2 million) of total revenue in the quarter, a decrease of 18 percent from $16.2 million in Q1 2008. Declines in professional services revenues and the impact on our Support and Maintenance stream by a strong U.S. dollar accounted for the decrease in overall service and maintenance in the quarter. Services revenues, adjusted for currency, were $14.7 million, a decrease of 9 percent from Q1 2008.

"We are pleased with our financial performance for the quarter," said Bill Conner, Entrust president and chief executive officer. "Despite a tough economic environment we were able to increase our non-GAAP earnings-per-share by three cents and generate positive cash flow from operations of more than $4.4 million (net of change in accrued restructuring charges), which helped us increase our cash balance to $26.6 million."

Entrust recorded a Q1 2009 net income, calculated in accordance with GAAP, of $1.8 million, or $0.03 per share, compared to Q1 2008 net loss of $1.2 million, or $0.02 per share. On a non-GAAP basis, the company recorded a Q1 2009 non-GAAP income of $2.4 million, or $0.04 per share, compared to Q1 2008 non-GAAP income of $344,000 or $0.01 per share. See the financial table below reconciling these non-GAAP figures to GAAP.

Entrust was also cash-flow-from-operations positive by $4.4 million for Q1 2009, net of change in accrued restructuring charges. Entrust ended the quarter with cash and cash equivalents of more than $26.6 million and no debt.

Because the company has entered into an agreement to be acquired by an affiliate of Thoma Bravo, LLC, the company is not providing guidance for future financial results.

Q1 2009 Financial and Operating Highlights: -- Revenue of $22.6 million consisted of 42 percent product revenue ($9.4 million) and 58 percent services and maintenance revenue ($13.2 million). The top five product transactions accounted for 13 percent of Q1 2009 revenues. There were no product transactions accounting for more than $1 million in Q1 2009. Revenue from transactions less than $500,000 decreased 11 percent from Q1, 2008. -- Revenue from subscription based product and services accounted for 56 percent of total revenue for Q1 2009, a decrease of 4 percent on a dollar basis, and an increase of 5 percent on a percentage of revenue basis from Q1 2008. -- Entrust Fraud and Risk Based Authentication products accounted for 25 percent ($2.3 million) of product revenue for Q1 2009. Subcategory Entrust IdentityGuard and Entrust Transaction Guard Products accounted for $1.4 million of product revenue for Q1 2009. -- Entrust PKI products accounted for 75 percent ($7.1 million) of product revenue for Q1 2009. Subcategory SSL accounted for $2.8 million of product revenue for Q1 2009, an increase of 26 percent year-over-year. Subcategory Subscription Product accounted for 37 percent ($3.5 million) of product revenue for Q1 2009, an increase of 21 percent year-over-year. -- Product revenue for the quarter was 61 percent Extended Government and 39 percent Extended Enterprise. The financial services vertical accounted for approximately 31 percent of product revenue in Q1 2009. -- The average purchase size in the first quarter was $57,000, an increase from $50,000 in Q1 2008. Total transactions in Q1 2009 reached 109, which is down from 136 in Q1 2008. Twenty-nine transactions, or 27 percent of the total transactions were from new customers. -- Deferred revenue of $29.5 million increased 2 percent from Q1 2008. -- Cash flow from operations was positive $4.4 million for Q1 2009 before the net change in restructuring accruals. -- Entrust ended the quarter with $26.6 million in cash and cash equivalents and no debt. Q1 2009 Technology and Industry Highlights: -- Gartner's Magic Quadrant for Web Fraud Detection named Entrust as a "leader" based on its "ability to execute" and the company's "completeness of vision." According to Gartner, magic quadrant "leaders" are vendors who are performing well today, have a clear vision of market direction and are actively building competencies to sustain their leadership position in the market. -- Michigan's Oakland County selected Entrust Extended Validation SSL digital certificates to help instill a high level of citizen trust for their online eCommerce applications and services. More than 1.2 million citizens in Oakland County, which borders Detroit, Mich., will be able to access their county eCommerce online services secured with Entrust EV SSL certificates. -- In SC Magazine's authentication review, Entrust IdentityGuard 9.1 received a five-star overall rating and was hailed as a "nicely integrated platform that provides all the options needed for any small to large enterprise deployment." The group review, which compared products from 11 vendors, evaluated authentication solutions on the merits of features, ease of use, performance, documentation, support and value for the money. -- Entrust announced the launch of Entrust Code Signing Certificates, which offers customers a wide range of the most popular digital certificate types via the company's easy-to-use Certificate Management System. The new Entrust Code Signing Certificates are used by application and software authors to instill legitimacy into their products. This technology -- imbedded into the certificates within the software -- is designed to enable end-users to verify the authenticity of an application, which is done by trusting the certification authority that issued the certificate. -- Entrust introduced Entrust IdentityGuard 9.2, which adds support for SMS soft tokens and digital certificates. This authentication solution was enhanced with improved administration and reporting, simplified enterprise integration and support for new integration partners. The release is designed to enable organizations to use digital certificates -- stored locally or on secure devices like smart cards or USB tokens -- for strong authentication. This new feature also is designed to enable organizations to send a configurable number of OTPs to a mobile device for use during authentication. -- SC Magazine UK named Entrust's ePassport security solution as a finalist for their "Innovation Award." Entrust's ePassport solution was selected by a panel of industry experts from more than 600 entries submitted in the "Innovation Award" category. -- Entrust's proven risk-based authentication solution was named finalist in the "Best Security Solution" category of the Software & Information Industry Association's (SIIA) 24th Annual CODiE Awards. Entrust was selected as a CODiE finalist from more than 850 nominations submitted by some 600 companies. Through a unique combination of journalist and expert peer review, the CODiE Awards recognize 71 categories of outstanding products and services. GAAP to Non-GAAP Reconciliation

The following charges for the first quarter of 2009, reconcile the GAAP and non-GAAP earnings per share:

-- Stock-based compensation charge in accordance with SFAS 123R of approximately $250,000, or $(0.00) per share for the first quarter of 2009. -- Amortization charges of intangible assets primarily associated with the acquisition of Business Signatures and Orion of approximately $378,000, or $(0.01) per share for the first quarter of 2009. -- Adjusting for currency to maintain a constant currency when comparing first quarter results to prior year.

See table below for further details of Entrust's supplemental reconciliation of GAAP to non-GAAP measures.

Use of Non-GAAP Financial Measures

To supplement the financial results that are prepared and presented in accordance with accounting principles generally accepted in the United States, Entrust's management prepares and uses non-GAAP financial measures for many of its internal financial, operating and planning reports. The company's management believes that by excluding charges such as the purchased intangibles amortization in cost of goods sold, the amortization of purchased intangible assets in operating expenses, stock compensation expense, restructuring charges and write down of strategic investments from its GAAP-based results, these non-GAAP financial measures are more likely to facilitate investors' understanding of the company's ongoing business operating results. These non-GAAP financial measures also facilitate comparisons to the operating results of the company's competitors and provide investors with greater transparency with respect to the supplemental information used by management in its operational and financial decision making.

The non-GAAP measures are included to provide investors with supplemental information to facilitate their understanding of Entrust's operating results and future prospects. Management uses these non-GAAP measures to assess its success in reducing the company's cost structure, to measure its ongoing cash operating costs, and to establish budgets and operational goals. The presentation of this additional information should not be considered in isolation or as a substitute for financial and operating results prepared in accordance with accounting principles generally accepted in the United States, as non-GAAP measures are susceptible to varying calculations and they may not be comparable, as presented, to other similarly titled measures of other companies.

This press release contains forward-looking statements relating to the proposed acquisition of the company by an affiliate of Thoma Brovo, LLC. Such statements are based upon preliminary estimates which involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are unforeseen operating expenses, inaccuracy in preliminary estimates issues associated with revenue recognition, issues raised in connection with the review of quarterly financial results, currency fluctuations, and the risk factors detailed from time to time in Entrust's periodic reports and registration statements filed with the Securities and Exchange Commission, including without limitation Entrust's Annual Report on Form 10-K for the fiscal year ended December 31, 2008. While Entrust may elect to update forward-looking statements in the future, Entrust specifically disclaims any obligation to do so, even if its estimates change.

Important Additional Information Regarding the Proposed Acquisition

In connection with the proposed acquisition of the company by an affiliate of Thoma Bravo, LLC, on April 27, 2009, Entrust filed a preliminary proxy statement with the Securities and Exchange Commission (the "SEC"). Investors and security holders are advised to read the preliminary proxy statement and, when it becomes available, the definitive proxy statement, as well as any other relevant documents filed with the SEC when they become available, because they will contain important information about the proposed acquisition and the parties to the acquisition. Investors and security holders may obtain a free copy of the proxy statement and other documents filed by Entrust at the SEC Website at http://www.sec.gov/. The proxy statement and other documents filed by Entrust with the SEC also may be obtained for free at Entrust's Internet Website at [http://www.entrust.com/investors] or by writing to Entrust, Inc., [One Lincoln Centre, 5400 LBJ Freeway, Suite 1340, Dallas, Texas, USA 75240], Attn: [Investor Relations Department]. In connection with the special meeting of Entrust stockholders to approve the merger, Entrust will mail or otherwise provide copies of the definitive proxy statement to Entrust stockholders who are entitled to attend and vote at the special meeting.

The information in the preliminary proxy statement is not complete and may be changed. Before making any voting or investment decisions with respect to the proposed acquisition or any of the other matters with respect to which Entrust's stockholders will be asked to vote pursuant to the proxy statement, Entrust's stockholders are urged to read the definitive proxy statement and other documents filed by Entrust when they become available.

About Entrust

Entrust [NASDAQ: ENTU] provides trusted solutions that secure digital identities and information for enterprises and governments in 2,000 organizations spanning 60 countries. Offering trusted security for less, Entrust solutions represent the right balance between affordability, expertise and service. These include SSL, strong authentication, fraud detection, digital certificates and PKI. For information, call 888-690-2424, e-mail entrust@entrust.com or visit http://www.entrust.com/.

Entrust is a registered trademark of Entrust, Inc. in the United States and certain other countries. In Canada, Entrust is a registered trademark of Entrust Limited. All Entrust product names are trademarks of Entrust. All other company and product names are trademarks or registered trademarks of their respective owners.

ENTRUST, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) Three Months Ended March 31st, -------------- 2009 2008 ---- ---- Revenues: Product $9,397 $9,630 Services and maintenance 13,239 16,208 ------ ------ Total revenues 22,636 25,838 ------ ------ Cost of revenues: Product 2,130 2,362 Services and maintenance 5,764 7,855 Amortization of purchased product rights 128 345 --- --- Total cost of revenues 8,022 10,562 ----- ------ Total gross profit 14,614 15,276 ------ ------ Operating expenses: Sales and marketing 6,535 8,703 Research and development 3,010 4,742 General and administrative 3,343 3,116 ----- ----- Total operating expenses 12,888 16,561 ------ ------ Income (loss) from operations 1,726 (1,285) ----- ------ Other income (expense): Interest income 23 131 Foreign exchange gain 85 20 Gain on sale of long-term strategic investments 41 18 -- -- Total other income (expense) 149 169 --- --- Income (loss) before income taxes 1,875 (1,116) Provision for income taxes 121 64 --- -- Net income (loss) $1,754 $(1,180) ------ ------- Weighted average common shares used Basic 61,455 61,165 Diluted 61,455 61,165 Net income (loss) per share Basic $0.03 ($0.02) Diluted $0.03 ($0.02) ENTRUST, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) March 31, December 31, 2009 2008 ---- ---- ASSETS Cash and marketable investments $26,572 $24,312 Accounts receivable, net of allowance for doubtful accounts 17,633 18,419 Other current assets 3,095 3,262 Property and equipment, net 1,250 1,290 Purchased product rights and other purchased intangible assets, net 9,244 9,622 Goodwill 60,214 60,214 Long-term strategic and equity investments 46 46 Other long-term assets, net 810 881 --- --- Total assets $118,864 $118,046 ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable and accruals $13,771 $15,258 Accrued restructuring charges 12,244 13,612 Deferred revenue 29,485 27,756 Long-term liabilities 755 772 --- --- Total liabilities 56,255 57,398 Shareholders' equity 62,609 60,648 ------ ------ Total liabilities and shareholders' equity $118,864 $118,046 ======== ======== The following supplemental tables provide non-GAAP financial measures used by the company's management to evaluate operational results. The company believes this information may be useful to investors. In addition to disclosing financial results calculated in accordance with U.S. generally accepted accounting principles (GAAP), the company's earnings release contains non-GAAP financial measures that exclude the income statement effects of share-based compensation, amortization of purchase product rights and other purchased intangibles, write-down of long-term assets and non recurring restructuring and impairment charges, as well as adjusting for currency effects to maintain a constant currency with the prior year's results. The non-GAAP financial measures disclosed by the company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to those financial statements should be carefully evaluated. The non-GAAP financial measures used by the company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. Set forth below are reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures. For additional information regarding these non-GAAP financial measures, see the Form 8-K dated April 28, 2009 that Entrust has filed with the Securities and Exchange Commission. ENTRUST, INC. SUPPLEMENTAL RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES (in thousands, except per share data) Three Months Ended March 31st, ----------------- 2009 2008 ---- ---- Reconciliation of net income (loss) per GAAP to Non-GAAP income: GAAP net income (loss) $1,754 $(1,180) Adjustments for share-based compensation expense: Cost of revenues 28 91 Sales and marketing 18 318 Research and development 26 122 General and administrative 178 399 Amortization of other purchased intangibles: Cost of revenues 39 38 Sales and marketing 211 211 Amortization of purchased product rights 128 345 --- --- Non-GAAP income $2,382 $344 ------ ---- Reconciliation of net income (loss) per diluted share according to GAAP to Non-GAAP income per diluted share: GAAP net income (loss) per diluted share $0.03 ($0.02) ----- ------- Adjustments for share-based compensation expense 0.01 0.02 Amortization of other purchased intangibles - - Amortization of purchased product rights - 0.01 --- ---- 0.01 0.03 ---- ---- Non-GAAP income per diluted share $0.04 $0.01 ----- ----- Weighted average common shares used 61,455 61,165 ------ ------ Reconciliation of net cash flow from operating activities per GAAP to Non-GAAP cash flow from operations before the net change in restructuring accruals: GAAP net cash flow from operating activities $3,048 $2,488 Adjustments to exclude the effects of: Net change in accrued restructuring charges 1,368 1,404 ----- ----- Non-GAAP cash flow from operations before the net change in restructuring accruals $4,416 $3,892 ------ ------ Three Months Percentage Change Ended Versus: March 31st, 2009 Q1, 2008 Q4, 2008 ---- -------- -------- (in millions) Reconciliation of financial measures after adjusting for constant currency: Product revenues, as per GAAP $9.4 -2% Adjustment to exclude the effect of currency changes from the prior year 1.2 12% --- --- Non GAAP product revenues, adjusting for currency $10.6 10% ----- --- Services and maintenance revenues, as per GAAP $13.2 -18% Adjustment to exclude the effect of currency changes from the prior year 1.5 9% --- -- Non-GAAP services and maintenance revenues, adjusting for currency $14.7 -9% ----- --- Total revenues, as per GAAP $22.6 -12% Adjustment to exclude the effect of currency changes from the prior year 2.7 10% --- --- Non-GAAP total revenues, adjusting for currency $25.3 -2% ----- --- Deferred revenue, as per GAAP $29.5 2% 6% Adjustment to exclude the effect of currency changes from the prior year 3.9 14% 1% --- --- -- Non-GAAP deferred revenue, adjusting for currency $33.4 16% 7% ----- --- --

Photo: http://www.newscom.com/cgi-bin/prnh/20060720/NYTH074LOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Entrust, Inc.

CONTACT: Investor Relations, David Rockvam of Entrust, Inc.,
+1-972-728-0424, david.rockvam@entrust.com, or Media Relations, David
J.Chamberlin, +1-214-669-7299, david.chamberlin@mslworldwide.com, for Entrust,
Inc.

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

National Instruments Declares Quarterly Dividend

AUSTIN, Texas, April 28, 2009 /PRNewswire-FirstCall/ -- The National Instruments Board of Directors announced a quarterly dividend of $0.12 per share. This dividend is payable on June 1, 2009, to shareholders of record on May 11, 2009.

About National Instruments

National Instruments (http://www.ni.com/) is transforming the way engineers and scientists design, prototype and deploy systems for measurement, automation and embedded applications. NI empowers customers with off-the-shelf software such as NI LabVIEW and modular cost-effective hardware, and sells to a broad base of more than 30,000 different companies worldwide, with no one customer representing more than 3 percent of revenue and no one industry representing more than 15 percent of revenue. Headquartered in Austin, Texas, NI has more than 5,000 employees and direct operations in more than 40 countries. For the past 10 years, FORTUNE magazine has named NI one of the 100 best companies to work for in America. Readers can obtain investment information from the company's investor relations department by calling (512) 683-5090, e-mailing nati@ni.com or visiting http://www.ni.com/nati.

LabVIEW, National Instruments, NI and ni.com are trademarks of National Instruments. Other product and company names listed are trademarks or trade names of their respective companies.

Contact: Veronica Garza Investor Relations (512) 683-6873

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PRN Photo Desk, photodesk@prnewswire.com National Instruments

CONTACT: Veronica Garza, Investor Relations of National Instruments,
+1-512-683-6873

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

Trident Microsystems Reports Results for Third Quarter of Fiscal Year 2009

SANTA CLARA, Calif., April 28 /PRNewswire-FirstCall/ -- Trident Microsystems, Inc. , a leader in high-performance semiconductor system solutions for the multimedia and digital television market today announced results for the third quarter of fiscal year 2009, which ended March 31, 2009.

For the third quarter of fiscal year 2009, the company reported net revenues of $6.9 million, compared with net revenues of $19.2 million in the quarter ended December 31, 2008 and $55.3 million reported in the quarter ended March 31, 2008.

GAAP Results

For the third quarter of fiscal year 2009, a net loss of $16.6 million, or a loss of $0.27 per basic share, was recorded on a generally accepted accounting principles ("GAAP") basis, which included $2.2 million of GAAP adjustments. This compares to a net loss of $14.6 million, or a loss of $0.24 per basic share, in the quarter ended December 31, 2008, which included $8.0 million of GAAP adjustments, and to net loss of $0.2 million, or $0.00 per basic share, in the quarter ended March 31, 2008, which included $5.3 million in GAAP adjustments.

Non-GAAP Results

Non-GAAP net loss for the third quarter of fiscal year 2009 was $14.4 million or a loss of $0.23 per basic share. This compares to a non-GAAP net loss of $6.6 million, or a loss of $0.11 per basic share, in the second quarter of fiscal year 2009 and to net income of $5.1 million, or $0.08 per diluted share, in the third quarter of fiscal year 2008.

A detailed reconciliation between GAAP and non-GAAP net income/loss is provided in a table following the non-GAAP consolidated statements of operations.

"Our third fiscal quarter results were consistent with our expectations, although it was a weak quarter," commented Sylvia Summers Couder, Trident's Chief Executive Officer and President. "As well, our current business outlook for the fourth fiscal quarter of 2009 remains soft due to reduced consumer spending and the absence of major production-ready design wins at tier one customers," continued Ms. Summers.

"Notwithstanding the difficulties of the current market, we are taking actions to emerge as a leader in the global DTV market by investing in our future and building upon our core strengths. During the quarter, we made progress towards this goal by signing a definitive agreement to acquire three consumer division product lines from Micronas. We expect this acquisition to expand the markets and customers we serve, upgrade our intellectual property, and reduce our cash burn rate. We are on track to close the acquisition this quarter and are focused on identifying additional opportunities to improve efficiencies and maximize cost synergies. Additionally, we continue to evaluate additional strategic opportunities to further strengthen Trident's position in the global DTV market, which is expanding to include the multimedia connected home," added Ms. Summers.

Current Outlook

Trident's outlook for the fourth quarter of fiscal year 2009, described below, is based on current expectations, does not include the effects of the proposed acquisition of certain assets from Micronas, and is subject to various factors, including those set forth in the Forward-Looking Information statement below. Actual results may differ materially.

Fourth Quarter Fiscal Year 2009 -- Net revenues are expected to be in the range of $6 to $7 million. -- Non-GAAP gross margins are projected to be between 22% and 25%. -- Non-GAAP operating expenses are projected to be in the range of $10 to $11 million for research and development expenses and approximately $5 million for selling, general and administrative expenses. -- Non-GAAP operating loss is projected to be in the range of $14 to $15 million. -- Provision for income taxes is projected to be in the range of $1 to $2 million. -- The company expects to end the quarter with a cash balance of approximately $180 to $185 million. Use of Non-GAAP Financial Information

To supplement the consolidated financial results prepared under GAAP, Trident uses a non-GAAP conforming, or non-GAAP, measure of net income (loss) that is GAAP net income (loss) adjusted to exclude certain costs, expenses and gains. Non-GAAP net income (loss) gives an indication of Trident's baseline performance before gains, losses or other charges that are considered by management to be outside the company's core operating results. In addition, non-GAAP net income (loss) is among the primary indicators management uses as a basis for planning and forecasting future periods. These measures are not in accordance with, or an alternative for, GAAP and may be materially different from non-GAAP measures used by other companies. Trident computes non-GAAP net income (loss) by adjusting GAAP net income (loss) for stock-based compensation expense, expenses related to the stock option investigation and related matters, restructuring charges, expenses related to software license fees adjustment, amortization of intangible assets from the acquisition of Trident's Beijing subsidiary and the purchase of the minority interests of Trident's Taiwan subsidiary (Trident Technologies, Inc.), impairment loss, capital gains and losses and dividend income. A detailed reconciliation between net income (loss) on a GAAP basis and non-GAAP net income (loss) is provided in a table following non-GAAP Consolidated Statements of Operations.

Investor Conference Call

Trident will host a conference call today, April 28, 2009, at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time to discuss these quarterly results. Shareholders may participate in the call by calling 888-713-4218 or 617-213-4870 and entering passcode 3550-4630.

This call is being webcasted by Thomson/CCBN and can be accessed at Trident's web site at: http://www.tridentmicro.com/. The webcast is also being distributed through the Thomson StreetEvents Network to both institutional and individual investors. Individual investors can listen to the call at http://www.fulldisclosure.com/, Thomson/CCBN's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson's password-protected event management site, StreetEvents (http://www.streetevents.com/). A replay of the conference call will be available approximately two hours following the conference call until midnight Pacific Time, on May 5, 2009 and can be accessed by calling 888-286-8010 (domestic) or 617-801-6888 (international) using access code 4168-1298.

Forward-Looking Information

This press release contains forward-looking statements, including statements regarding financial expectations for the fourth quarter of fiscal year 2009, our current business outlook for the first half of calendar year 2009, benefits expected to be achieved as a result of our planned acquisition of three consumer division product lines from Micronas, including expansion of our markets, upgrades to our intellectual property and reductions in our cash burn rate, as well as our continued evaluation of strategic opportunities to further strengthen our position in the global DTV market. The forward-looking statements made above are subject to certain risks and uncertainties, and actual results could vary materially depending on a number of factors. These risks include, in particular, our ability to complete our acquisition of product lines from Micronas, our ability to build upon our core strengths, including our technology, engineering team, competitive cost structure and strong balance sheet, the timing of product introductions, the ability to obtain design wins among major OEMs for Trident's products, and competitive pressures, including pricing and competitors' new product introductions, the impact of the deteriorating global macroeconomic environment, the increasingly competitive DTV market and our ability to retain key employees. Additional factors that may affect Trident's business are described in detail in Trident's filings with the Securities and Exchange Commission available at http://www.sec.gov/.

About Trident Microsystems, Inc.

Trident Microsystems, Inc., with headquarters in Santa Clara, California, designs, develops and markets integrated circuits, or ICs, and associated software for digital media applications, such as digital television, LCD television. Trident's products are sold to a network of OEMs, original design manufacturers and system integrators worldwide. For further information about Trident and its products, please consult the Company's web site: http://www.tridentmicro.com/. TRID-IR.

NOTE: Trident is a registered trademark of Trident Microsystems, Inc., HiDTV(TM), DPTV(TM), SVP(TM) WX, SVP(TM) UX, SVP(TM) PXP and SVP(TM) CX are trademarks of Trident Microsystems, Inc. All other company and product names are trademarks and/or registered trademarks of their respective owners. Features, pricing, availability and specifications are subject to change without notice.

Trident Microsystems, Inc. Condensed Consolidated Balance Sheets (Unaudited) March 31, December 31, March 31, (In thousands) 2009 2008 2008 -------------- ---- ---- ---- ASSETS Current assets Cash and cash equivalents $202,581 $212,194 $200,316 Short-term investments - 9 36,117 Accounts receivable, net 812 531 15,144 Inventories 1,650 3,648 11,300 Prepaid expenses and other current assets 10,918 11,596 16,505 -------------------- ------- ------- ------- Total current assets 215,961 227,978 279,382 Property and equipment, net 23,381 23,804 23,086 Intangible assets, net 4,298 5,598 9,671 Goodwill - 1,432 1,372 Other assets 9,664 10,008 9,000 ------------ -------- -------- -------- Total assets $253,304 $268,820 $322,511 ============ ======== ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $4,794 $2,978 $14,531 Accrued expenses and other current liabilities 15,830 17,787 25,742 Income taxes payable 12,320 15,229 21,633 ------------------------- ------ ------ ------ Total current liabilities 32,944 35,994 61,906 Long-term income taxes payable 21,476 20,103 23,602 Deferred income tax liabilities 249 274 247 ----------------- ------ ------ ------ Total liabilities 54,669 56,371 85,755 Stockholders' equity Capital stock 218,842 216,052 203,290 (Accumulated deficit) / retained earnings (20,207) (3,603) 35,880 Accumulated other comprehensive loss - - (2,414) -------------------------- ------- ------- ------- Total stockholders' equity 198,635 212,449 236,756 ---------------------------------- -------- -------- -------- Total liabilities and stockholders' equity $253,304 $268,820 $322,511 ================================== ======== ======== ======== Trident Microsystems, Inc. Condensed Consolidated Statements of Income (Unaudited) Three Months Ended Nine Months Ended (In thousands, ------------------ ----------------- except per March 31, December 31, March 31, March 31, March 31, share data) 2009 2008 2008 2009 2008 -------------- ---- ---- ---- ---- ---- Net revenues $6,852 $19,215 $55,284 $60,849 $218,442 Cost of revenues (1) 6,391 13,045 29,972 $42,143 115,176 ------------- ----- ------ ------ ------- ------- Gross profit 461 6,170 25,312 18,706 103,266 Gross margin 6.7% 32.1% 45.8% 30.7% 47.3% Research and development expenses (2) 11,434 12,715 14,407 37,214 39,385 % of net revenues 166.9% 66.2% 26.1% 61.2% 18.0% Selling, general and administrative expenses 3,626 8,465 7,120 22,196 38,391 % of net revenues 52.9% 44.1% 12.9% 36.5% 17.6% Goodwill impairment 1,432 - - 1,432 - % of net revenues 20.9% - - 2.4% - Restructuring charges 41 761 - 802 - % of net revenues 0.6% 4.0% - 1.3% - --------- --- --- --- --- --- Income (loss) from operations (16,072) (15,771) 3,785 (42,938) 25,490 % of net revenues (234.6)% (82.1)% 6.8% (70.6)% 11.7% Net (loss) on investment in / dividend income from UMC stock - (46) - (8,187) - Interest and other income, net 1,287 2,103 (796) 6,518 5,283 -------------- ----- ----- ---- ----- ----- Income (loss) before income taxes (14,785) (13,714) 2,989 (44,607) 30,773 % of net revenues (215.8)% (71.4)% 5.4% (73.3)% 14.1% Provision for income taxes (3) 1,819 870 3,216 4,550 13,691 % of net revenues 26.5% 4.5% 5.8% 7.5% 6.3% --------- ---- --- --- --- --- Net income (loss) $(16,604) $(14,584) $(227) $(49,157) $17,082 % of net revenues (242.3)% (75.9)% (0.4)% (80.8)% 7.8% --------- ------ ----- ---- ----- --- Basic net income (loss) per share $(0.27) $(0.24) $0.00 $(0.80) $0.29 -------------- ------ ------ ----- ------ ----- Common shares used in computing basic per share amounts 61,829 61,612 59,369 61,529 59,025 --------- ------ ------ ------ ------ ------ Diluted net income (loss) per share $(0.27) $(0.24) $0.00 $(0.80) $0.27 -------------- ------ ------ ----- ------ ----- Common and common equivalent shares used in computing diluted per share amounts 61,829 61,612 59,369 61,529 62,719 -------------- ------ ------ ------ ------ ------ (1) & (2) - During fiscal year ended June 30, 2008, the Company reclassified certain prior period balances from "Research and development expenses" to "Cost of revenues". These reclassifications did not impact any prior amounts of reported net income (loss), total assets, total liabilities, stockholders' equity, and results of operations or cash flows. See the reconciliation for such reclassification for the three and nine month periods ended March 31, 2008. Reconciliation for R&D expenses reclassification: Three Months Ended Nine Months Ended ------------------ ----------------- March 31, March 31, 2008 2008 ---- ---- Cost of revenues (1): Balance before reclassification $29,105 $112,742 Reclassification from research and development 867 2,434 --- ----- Balance after reclassification $29,972 $115,176 ======= ======== Research and development expenses (2): Balance before reclassification $15,274 $41,819 Reclassification to cost of revenues (867) (2,434) ---- ------ Balance after reclassification $14,407 $39,385 ======= ======= (3) Amounts for each quarter ended include the amortization of foreign taxes associated with intercompany profit on assets remaining within Trident's group. Trident Microsystems, Inc. Non-GAAP Condensed Consolidated Statements of Income (Unaudited) Three Months Ended Nine Months Ended (In thousands, ------------------ ----------------- except per March 31, December 31, March 31, March 31, March 31, share data) 2009 2008 2008 2009 2008 -------------- ---- ---- ---- ---- ---- Net revenues $6,852 $19,215 $55,284 $60,849 $218,442 Cost of revenues (1) 5,321 11,835 28,750 37,800 110,565 ------------- ----- ------ ------ ------ ------- Gross profit 1,531 7,380 26,534 23,049 107,877 Gross margin 22.3% 38.4% 48.0% 37.9% 49.4% Research and development expenses (2) 10,382 10,169 10,542 32,272 28,086 % of net revenues 151.5% 52.9% 19.1% 53.0% 12.9% Selling, general and administrative expenses 5,004 5,199 6,690 17,174 19,969 % of net revenues 73.0% 27.1% 12.1% 28.2% 9.1% --------- ---- ---- ---- ---- --- Income (loss) from operations (13,855) (7,988) 9,302 (26,397) 59,822 % of net revenues (202.2)% (41.6)% 16.8% (43.4)% 27.4% Interest and other income, net (3) 1,280 2,230 (1,000) 6,626 2,537 -------------- ----- ----- ------ ----- ----- Income (loss) before income taxes (12,575) (5,758) 8,302 (19,771) 62,359 % of net revenues (183.5)% (30.0)% 15.0% (32.5)% 28.5% Provision for income taxes (4) 1,819 870 3,216 4,550 13,691 % of net revenues 26.5% 4.5% 5.8% 7.5% 6.3% --------- ---- --- --- --- --- Net income (loss) (14,394) (6,628) 5,086 (24,321) 48,668 % of net revenues (210.1)% (34.5)% 9.2% (40.0)% 22.3% --------- ------ ----- --- ----- ---- --------------- ------ ------ ----- ------ ----- Basic net income (loss) per share $(0.23) $(0.11) $0.09 $(0.40) $0.82 Common shares used in computing basic per share amounts 61,829 61,612 59,369 61,529 59,025 --------- ------ ------ ------ ------ ------ --------------- ------ ------ ----- ------ ----- Diluted net income (loss) per share $(0.23) $(0.11) $0.08 $(0.40) $0.76 Common and common equivalent shares used in computing diluted per share amounts under non-GAAP basis (5) 61,829 61,612 63,067 61,529 63,901 ---------- ------ ------ ------ ------ ------ (1) & (2) - During fiscal year ended June 30, 2008, the Company reclassified certain prior period balances from "Research and development expenses" to "Cost of revenues". These reclassifications did not impact any prior amounts of reported net income (loss), total assets, total liabilities, stockholders' equity, and results of operations or cash flows. See the reconciliation for such reclassification for the three and nine month periods ended March 31, 2008. Reconciliation for R&D expenses reclassification: Three Months Ended Nine Months Ended ------------------ ----------------- March 31, March 31, 2008 2008 ---- ---- Cost of revenues (1): Balance before reclassification $28,014 $108,479 Reclassification from research and development (excluding stock-based compensation expense) 736 2,086 --- ----- Balance after reclassification $28,750 $110,565 ======= ======== Research and development expenses (2): Balance before reclassification $11,278 $30,172 Reclassification to cost of revenues (excluding stock-based compensation expense) (736) (2,086) ---- ------ Balance after reclassification $10,542 $28,086 ======= ======= (3) Amount in the nine months ended March 31, 2009 included a $3.6 million foreign currency remeasurement gain related to income taxes payable in foreign jurisdictions, which resulted from the relative strengthening of the U.S. dollar. (4) Amounts for each quarter ended include the amortization of foreign taxes associated with intercompany profit on assets remaining within Trident's group. (5) Common and common equivalent shares used to calculate non-GAAP diluted net income per share excluded all the unamortized stock compensation of stock options and restricted shares when determining whether the awards are anti-dilutive. We also excluded unamortized stock compensation from the assumed proceeds under the treasury stock method. Trident Microsystems, Inc. A reconciliation between net income on a GAAP basis and a non-GAAP basis is as follows: Three Months Ended Nine Months Ended (In thousands, ------------------ ----------------- except per share March 31, December 31, March 31, March 31, March 31 data, unaudited) 2009 2008 2008 2009 2008 ---- ---- ---- ---- ---- GAAP net income (loss) ($16,604) ($14,584) ($227) ($49,157) $17,082 Impairment of acquisition-related intangible assets (1) Cost of revenues 294 - - 677 - Selling, general and administrative expenses 1,735 - - 1,739 - ----- --- --- ----- --- Total impairment of acquisition- related intangible assets 2,029 - - 2,416 - Amortization of acquisition-related intangible assets (2) Cost of revenues 628 1,065 1,040 2,799 4,011 Selling, general and administrative expenses 76 134 108 347 442 --- --- --- --- --- Total amortization of acquisition-related intangible assets 704 1,199 1,148 3,146 4,453 Stock-based compensation expense (3) Cost of revenues 145 138 182 438 600 Research and development 1,340 2,736 2,388 5,829 9,822 Selling, general and administrative expenses 1,318 1,054 2,822 3,146 13,816 ----- ----- ----- ----- ------ Total stock-based compensation expense 2,803 3,928 5,392 9,413 24,238 Restructuring Charges Cost of revenues 3 7 - 10 - Research and development 28 442 - 470 - Selling, general and administrative expenses 13 319 - 332 - --- --- --- --- --- Total restructuring charges 44 768 - 812 - Stock options related professional fees - (SG&A) (4) (3,075) 2,078 (2,500) 1,222 4,164 Software license fees - (R&D) (5) (288) (190) 1,477 (887) 1,477 Prepaid royalties adjustment (6) Cost of revenues - - - 419 - Loss/Impairment/Dividend on UMC stock (7) Loss of sale of UMC stock - 46 - 8,959 - Impairment loss of UMC stock - - - 429 - UMC stock dividend income - - - (1,201) - --- --- --- ------ --- Total impact on UMC stock - 46 - 8,187 - Impairment of other investment - 127 (204) 115 (2,746) Capital gain on investments, net (8) (7) - - (7) - ----------------- -------- ------ ------ ------- ------- Non-GAAP net income (loss) ($14,394) ($6,628) $5,086 ($24,321) $48,668 ======== ======= ====== ======== ======= ----------------- ------ ------ ----- ------ ----- Basic net income (loss) per share $(0.23) $(0.11) $0.09 $(0.40) $0.82 ----------------- ------ ------ ----- ------ ----- Common shares used in computing basic per share amounts 61,829 61,612 59,369 61,529 59,025 ------------ ------ ------ ------ ------ ------ ----------------- ------ ------ ----- ------ ----- Diluted net income (loss) per share $(0.23) $(0.11) $0.08 $(0.40) $0.76 -------------- ------ ------ ----- ------ ----- Common and common equivalent shares used in computing diluted per share amounts under non-GAAP basis 61,829 61,612 63,067 61,529 63,901 --------- ------ ------ ------ ------ ------ (1) Charges for intangible assets impairment incurred as a result of their carrying value exceeding the fair value. The impaired intangible assets related to acquired TMBJ. Management believes that these charges are not directly associated with the Company's core operating performance. (2) Amortization of acquisition-related intangible assets represents the amortization of identifiable intangible assets from the acquisition of TMBJ and the purchase of the minority interests of the Company's TTI subsidiary. Management deemed that these acquisition-related charges are not related to Trident's core operating performance and it is appropriate to exclude those charges from Trident's non-GAAP financial measures, as it enhances the ability of investors to compare Trident's period-over- period operating results. (3) Stock-based compensation expense relates primarily to the equity awards such as stock options and restricted stock. This is non-cash expense that varies in amount from period to period and is dependent on market forces that are often beyond Trident's control. Hence, management excludes this item from the non-GAAP financial measures. (4) Stock options related professional fees are excluded from the non-GAAP net income (loss) calculation. Management believes that these professional fees are not related to the Company's ongoing business and operating performance of Trident. Amounts in the three and nine months ended March 31, 2009 and in the three and nine months ended March 31, 2008 include insurance reimbursements received for the Directors' and Officers' insurance partially offset by the stock options related professional fees incurred. (5) Software license fees represent an adjustment for prior years' software usage. (6) Adjustment incurred to write down existing royalties that the Company prepaid to certain vendors. Management believes that the adjustment is not directly associated with Trident's core operating performance. (7) Management believes that the capital loss on the sale of UMC stock and the dividend income received from UMC are not directly related to the ongoing business and operating performance of Trident. In addition, at September 30, 2008, based on the guidance prescribed in FSPs No. FAS 115-1 and FAS 124-1, The Meaning of Other-Than-Temporary Impairment and Its Application to Certain Investments, the Company determined that the decline in value of its remaining investment in UMC was other than temporary. As a result, the Company recorded an impairment loss in the first quarter of fiscal year 2009 for this decline in value. The capital loss, dividend income and impairment loss from the investment in UMC have all been excluded from the non-GAAP net loss calculation. (8) The capital gain related to cash distribution from one of the Company's investments. Management believes that such capital gain on the investment is not related to the ongoing business and operating performance of Trident. As such, management believes that it is appropriate to exclude investment related gain from Trident's non-GAAP financial measures.

Trident Microsystems, Inc.

CONTACT: Suzanne Craig, Suzanne@blueshirtgroup.com, or Maria Riley,
Maria@blueshirtgroup.com, both of The Blueshirt Group for Trident
Microsystems, +1-415-217-7722

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

Trimble Reports First Quarter Revenue of $289.0 Million and Non-GAAP Earnings Per Share of $0.28

SUNNYVALE, Calif., April 28 /PRNewswire-FirstCall/ -- Trimble today announced revenue of $289.0 million for its first quarter ended April 3, 2009, down approximately 19 percent from revenue of $355.3 million in the first quarter of 2008.

Operating income for the first quarter of 2009 was $24.3 million, down approximately 58 percent from the first quarter of 2008. Operating margin in the first quarter of 2009 was 8.4 percent, compared to an operating margin of 16.3 percent in the first quarter of 2008. Amortization of intangibles was $12.3 million in the first quarter of 2009 compared to $10.8 million in the first quarter of 2008. The impact of stock-based compensation expense was $4.2 million compared to $4.0 million in the first quarter of 2008. There was also a $4.5 million restructuring expense, a $0.2 million inventory step-up charge and a $0.5 million charge related to acquisitions in the first quarter of 2009 compared to a $0.2 million inventory step-up charge in the first quarter of 2008. Excluding these impacts, non-GAAP operating income of $45.9 million was down 37 percent compared to the first quarter of 2008. Non-GAAP operating margin was 15.9 percent in the first quarter of 2009, compared to 20.5 percent in the first quarter of 2008 and 10.7 percent in the fourth quarter of 2008.

First quarter 2009 net income was $17.5 million, down 56 percent compared to the first quarter of 2008. Diluted earnings per share for the first quarter of 2009 was $0.14 compared to diluted earnings per share of $0.32 in the first quarter of 2008.

Adjusting for the items noted above, non-GAAP net income of $33.7 million for the first quarter of 2009 was down 33 percent compared to the first quarter of 2008. Non-GAAP earnings per share for the first quarter of 2009 was $0.28 compared to non-GAAP earnings per share of $0.40 in the first quarter of 2008.

"The first quarter results were in line with our expectations. We continue to see considerable uncertainty in our markets with the resulting financial impact focused within our Engineering & Construction segment," said Steven W. Berglund, Trimble's president and chief executive officer. "Although the level of interest in our productivity improving technology remains high in the E&C markets, underlying business confidence did not improve during the quarter which impacted demand. Our Field Solutions segment demonstrated year over year growth in revenue and profits as a result of relatively strong performance in agriculture. While our Mobile Solutions segment did not grow year over year, the outlook for booking a number of enterprise level accounts in the first half of the year remains good," Berglund continued. "Overall, until some level of business confidence is restored, full year 2009 results will remain difficult to forecast. We took cost reduction actions in the quarter, and will take additional steps as conditions require, to align our costs with the lower revenue level. Beyond short term actions to improve profitability, our other focus is to take advantage of our strong balance sheet, cash flow, and organizational capabilities to enhance our market leadership."

Trimble Results by Business Segment

Segment operating income is revenue less cost of goods sold and operating expenses, excluding general corporate expenses, restructuring expenses, amortization of intangibles, amortization of inventory step-up charge, merger and acquisition charges, and the impact of stock-based compensation expense.

Engineering and Construction (E&C)

First quarter 2009 E&C revenue was $127.7 million, down approximately 34 percent when compared to the first quarter of 2008. The decline in demand continued to primarily be driven by recessionary conditions in the U.S. and Europe.

Operating income in E&C for the first quarter 2009 was $ 2.5 million, or 2.0 percent of revenue, compared to $37.0 million, or 19.0 percent of revenue, in the first quarter of 2008.

In the first quarter of 2009, non-GAAP operating income in E&C was $3.8 million, or 3.0 percent of revenue, compared to $37.9 million, or 19.5 percent of revenue, in the first quarter of 2008. The decline in operating margin was largely due to the drop in revenue.

Field Solutions

First quarter 2009 Field Solutions revenue was $99.2 million, up 13 percent when compared to the first quarter of 2008. Growth was driven by sales of agriculture products and acquisitions.

Operating income in Field Solutions for the first quarter 2009 was $42.2 million, or 42.6 percent of revenue, compared to $35.1 million, or 39.9 percent of revenue, in the first quarter of 2008.

In the first quarter of 2009, non-GAAP operating income in Field Solutions was $42.4 million, or 42.8 percent of revenue, compared to $35.3 million, or 40.1 percent of revenue in the first quarter of 2008. Growth in Field Solutions' margin was driven by operating leverage resulting from increased revenue and product mix.

Mobile Solutions

First quarter 2009 Mobile Solutions revenue was $38.3 million, down approximately 13 percent when compared to the first quarter of 2008. The year over year decline in revenue was primarily attributable to the fact that the first quarter of 2008 benefitted from the completion of deliverables for two large contracts.

Operating income in Mobile Solutions for the first quarter 2009 was $3.1 million, or 8.2 percent of revenue, compared to $2.5 million, or 5.6 percent of revenue in the first quarter of 2008.

In the first quarter of 2009, non-GAAP operating income in Mobile Solutions was $4.3 million, or 11.2 percent of revenue, up from 8.8 percent of revenue in the first quarter of 2008. The improvement is primarily due to reduced operating expenses from restructuring.

Advanced Devices

First quarter 2009 Advanced Devices revenue was $23.9 million, down approximately 18 percent when compared to the first quarter of 2008. The decline in first quarter revenue was due to slower sales of components which are sold to OEMs.

Operating income in Advanced Devices for the first quarter 2009 was $4.3 million, or 18.1 percent of revenue, compared to $4.7 million, or 16.1 percent of revenue, in the first quarter of 2008.

In the first quarter of 2009, non-GAAP operating income in Advanced Devices was $4.6 million, or 19.4 percent of revenue, compared to 17.3 percent of revenue in the first quarter of 2008. Margin improvement was the result of product mix.

Use of Non-GAAP Financial Information

To help our readers understand our past financial performance and our future results, we supplement the financial results that we provide in accordance with generally accepted accounting principles, or GAAP, with non-GAAP financial measures. The specific non-GAAP measures which we use along with a reconciliation to the nearest comparable GAAP measures and the explanation for why management chose to exclude selected items and the additional purposes for which these non-GAAP measures are used can be found at the end of this release. The method we use to produce non-GAAP results is not computed according to GAAP and may differ from the methods used by other companies. Our non-GAAP results are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and to make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. We believe that these non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business. Management generally compensates for the limitations in the use of non-GAAP financial measures by relying on comparable GAAP financial measures and providing investors with a reconciliation of the non-GAAP financial measure to the most directly comparable GAAP financial measure or measures. Investors are encouraged to review the reconciliation of our non-GAAP financial measures to the comparable GAAP results which is attached to this earnings release. Additional financial information about our use of non-GAAP results can be found on the investor relations page of our Web site at http://investor.trimble.com/.

Forward Looking Guidance

For the second quarter of 2009 Trimble continues to see general uncertainty that limits the ability to provide precise guidance. Trimble is guiding second quarter 2009 revenue in the range of $300 million plus or minus five percent. At a point estimate of $300 million in revenue, Trimble expects second quarter 2009 GAAP earnings per share of $0.21 and non-GAAP earnings per share of $0.32. Non-GAAP guidance for the second quarter of 2009 excludes the amortization of intangibles of $13.3 million related to previous acquisitions and the anticipated impact of stock-based compensation expense of $4.1 million. Both GAAP and non-GAAP guidance use a 27 percent tax rate and assume 121 million shares outstanding.

Investor Conference Call / Webcast Details

Trimble will hold a conference call on April 28, 2009 at 1:30 p.m. PT to review its first quarter 2009 results. It will be broadcast live on the Web at http://investor.trimble.com/. Investors without Internet access may dial into the call at (866) 638-7054 (U.S.) or (706) 679-7097 (international). A replay of the call will be available for seven days at (800) 642-1687 (U.S.) or (706) 645-9291 (international) and the pass code is 95301212. The replay will also be available on the Web at the address above.

About Trimble

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

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

Certain statements made in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements include expectations for future financial market and economic conditions, our ability to improve overall operating margins, revenue and earnings per share that Trimble expects to report in the second quarter 2009, changes in tax-rate, and estimated restructuring costs. These forward-looking statements are subject to change, and actual results may materially differ from those set forth in this press release due to certain risks and uncertainties. If the current global economic crisis and recessionary conditions in the U.S. and Europe show no signs of recovery it may negatively impact our customers' purchasing decisions worldwide including in emerging markets. In addition, the Company's results may be adversely affected if the Company is unable to market, manufacture and ship new products. Any weakening of our accounts receivable or write-off of goodwill could also impair our financial results. Any failure to achieve predicted results could negatively impact the Company's revenues, cash flow from operations and other financial results. Whether the Company achieves growth will also depend on a number of other factors, including the risks detailed from time to time in reports filed with the SEC, including its quarterly reports on Form 10-Q and its annual report on Form 10- K. Undue reliance should not be placed on any forward-looking statement contained herein, especially in light of greater uncertainty than normal in the economy in general. These statements reflect the Company's position as of the date of this release. The Company expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in the Company's expectations or any change of events, conditions, or circumstances on which any such statement is based.

FTRMB CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share data) (Unaudited) Three Months Ended ------------------ Apr-03, Mar-28, 2009 2008 ---- ---- Revenue $288,954 $355,296 Cost of sales 144,996 180,920 ------- ------- Gross margin 143,958 174,376 ------- ------- Gross margin (%) 49.8% 49.1% Operating expenses Research and development 34,137 37,345 Sales and marketing 48,935 51,158 General and administrative 26,042 22,690 Restructuring 3,623 - Amortization of purchased intangible assets 6,969 5,143 ----- ----- Total operating expenses 119,706 116,336 ------- ------- Operating income 24,252 58,040 Non-operating income (expense), net Interest income 199 457 Interest expense (493) (762) Foreign currency transaction gain, net 184 968 Income from joint ventures, net 168 2,015 Other expense, net (714) (940) ---- ---- Total non-operating income (expense), net (656) 1,738 ---- ----- Income before taxes 23,596 59,778 Income tax provision 5,899 19,732 ----- ------ Net income 17,697 40,046 Less: Net income (loss) attributable to noncontrolling interests 232 (21) --- --- Net income attributable to Trimble $17,465 $40,067 ======= ======= Earnings per share attributable to Trimble: Basic $0.15 $0.33 ----- ----- Diluted $0.14 $0.32 ----- ----- Shares used in calculating earnings per share: Basic 119,260 121,467 ------- ------- Diluted 120,926 125,159 ------- ------- CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) Apr-03, Jan-02, 2009 2009 ---- ---- Assets Current assets: Cash and cash equivalents $146,827 $147,531 Accounts receivables, net 220,404 204,269 Other receivables 7,382 17,540 Inventories, net 165,413 160,893 Deferred income taxes 40,015 41,810 Other current assets 17,664 16,404 ------ ------ Total current assets 597,705 588,447 Property and equipment, net 48,458 50,175 Goodwill 723,252 715,571 Other purchased intangible assets, net 222,752 228,901 Other non-current assets 49,944 51,922 ------ ------ Total assets $1,642,111 $1,635,016 ========== ========== Liabilities Current liabilities: Current portion of long-term debt $196 $124 Accounts payable 62,131 49,611 Accrued compensation and benefits 43,353 41,291 Deferred revenue 61,876 55,241 Accrued warranty expense 14,207 13,332 Other accrued liabilities 45,534 63,719 ------ ------ Total current liabilities 227,297 223,318 Non-current portion of long-term debt 151,436 151,464 Non-current deferred revenue 10,257 12,418 Deferred income taxes 38,112 42,207 Other non-current liabilities 58,763 61,553 ------- ------- Total liabilities 485,865 490,960 ------- ------- Commitments and contingencies Equity Shareholders' equity: Common stock 693,653 684,831 Retained earnings 445,386 427,921 Accumulated other comprehensive income 13,243 27,649 ------ ------ Total Trimble shareholders' equity 1,152,282 1,140,401 Noncontrolling interests 3,964 3,655 ----- ----- Total equity 1,156,246 1,144,056 --------- --------- Total liabilities and equity $1,642,111 $1,635,016 ========== ========== CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Three Months Ended Apr-03, Mar-28, 2009 2008 Cash flow from operating activities: Net Income $17,465 $40,067 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense 4,463 4,571 Amortization expense 12,298 10,848 Provision for doubtful accounts 2,212 38 Amortization of debt issuance cost 56 56 Deferred income taxes (1,606) (885) Stock-based compensation 4,226 3,982 Noncontrolling interest in consolidated subsidiaries 309 (33) Equity gain from joint ventures (168) (2,015) Excess tax benefit for stock-based compensation (21) (1,992) Provision for excess and obsolete inventories 904 2,103 Other non-cash items (2,135) 235 Add decrease (increase) in assets: Accounts receivables (18,712) (39,280) Other receivables 5,486 516 Inventories (7,327) (3,437) Other current and non-current assets 730 (191) Add increase (decrease) in liabilities: Accounts payable 12,682 3,760 Accrued compensation and benefits 2,391 (10,557) Accrued liabilities 5,801 (1,648) Deferred revenue 4,107 2,034 Income taxes payable - 12,547 - ------ Net cash provided by operating activities 43,161 20,719 ------ ------ Cash flows from investing activities: Acquisitions of businesses, net of cash acquired (17,294) (39,593) Acquisition of property and equipment (3,261) (3,711) Acquisition of intangible assets (26,001) (179) Other 14 136 -- --- Net cash used in investing activities (46,542) (43,347) ------- ------- Cash flow from financing activities: Issuance of common stock 4,602 8,483 Excess tax benefit for stock-based compensation 21 1,992 Repurchase and retirement of common stock - (25,870) Payments on long-term debt and revolving credit lines - (312) - ---- Net cash provided by (used in) financing activities 4,623 (15,707) ----- ------- Effect of exchange rate changes on cash and cash equivalents (1,946) 6,512 ------ ----- Net decrease in cash and cash equivalents (704) (31,823) Cash and cash equivalents - beginning of period 147,531 103,202 ------- ------- Cash and cash equivalents - end of period $146,827 $71,379 ======== ======= GAAP TO NON-GAAP RECONCILIATION (Dollars in thousands, except per share data) (Unaudited) Three Months Ended ------------------ Apr-03, Mar-28, 2009 2008 ---- ---- Dollar % of Dollar % of Amount Revenue Amount Revenue ------ ------- ------ ------- GROSS MARGIN: GAAP gross margin: $143,958 49.8% $174,376 49.1% Restructuring ( A ) 865 0.3% - 0.0% Amortization of purchased intangibles ( B ) 5,285 1.8% 5,661 1.6% Stock-based compensation ( C ) 438 0.2% 493 0.1% Amortization of acquisition-related inventory step-up ( D ) 223 0.1% 183 0.1% --- --- --- --- Non-GAAP gross margin: $150,769 52.2% $180,713 50.9% -------- ---- -------- ---- OPERATING EXPENSES: GAAP operating expenses: $119,706 $116,336 Restructuring ( A ) (3,623) - Amortization of purchased intangibles ( B ) (6,969) (5,143) Stock-based compensation ( C ) (3,788) (3,489) Merger and Acquisition Costs ( E ) (465) - ---- - Non-GAAP operating expenses: $104,861 $107,704 -------- -------- OPERATING INCOME: GAAP operating income: $24,252 8.4% $58,040 16.3% Restructuring ( A ) 4,488 1.5% - 0.0% Amortization of purchased intangibles ( B ) 12,254 4.2% 10,804 3.0% Stock-based compensation ( C ) 4,226 1.5% 3,982 1.1% Amortization of acquisition-related inventory step-up ( D ) 223 0.1% 183 0.1% Merger and Acquisition Costs ( E ) 465 0.2% - 0.0% --- --- - --- Non-GAAP operating income: $45,908 15.9% $73,009 20.5% ------- ---- ------- ---- NET INCOME: GAAP net income: $17,465 $40,067 Restructuring ( A ) 4,488 - Amortization of purchased intangibles ( B ) 12,254 10,804 Stock-based compensation ( C ) 4,226 3,982 Amortization of acquisition-related inventory step-up ( D ) 223 183 Merger and Acquisition Costs ( E ) 465 - Income tax effect on non-GAAP adjustments ( F ) (5,414) (4,941) ------ ------ Non-GAAP net income: $33,707 $50,095 ======= ======= DILUTED NET INCOME PER SHARE: GAAP diluted net income per share: $0.14 $0.32 Restructuring ( A ) 0.04 - Amortization of purchased intangibles ( B ) 0.10 0.09 Stock-based compensation ( C ) 0.04 0.03 Amortization of acquisition-related inventory step-up ( D ) - - Merger and Acquisition Costs ( E ) - - Income tax effect on non-GAAP adjustments ( F ) (0.04) (0.04) ----- ----- Non-GAAP diluted net income per share: $0.28 $0.40 ===== ===== SHARES USED TO COMPUTE DILUTED NET INCOME PER SHARE: GAAP and Non-GAAP shares used to compute net income per share: 120,926 125,159 ======= ======= OPERATING LEVERAGE: Increase (decrease) in non- GAAP operating income $(27,101) Increase (decrease) in revenue $(66,342) Operating leverage (increase in non-GAAP operating income as a % of increase in revenue) N/A The non-GAAP financial measures included in the table above are non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non- GAAP net income and non-GAAP diluted net income per share, which adjust for the following items: expenses related to acquisitions, stock-based compensation expense and restructuring charges. Management uses these non-GAAP measures to assess trends in its business and for budgeting purposes, as many of these excluded items are non-cash. In addition, we believe that the presentation of these non-GAAP financial measures is useful to investors for the reasons associated with each of the adjusting items as described below. ( A ) Restructuring. The amounts recorded are primarily for employee compensation resulting from reductions in employee headcount in connection with our company restructurings and we believe they are not directly related to the operation of our business. ( B ) Amortization of purchased intangibles. The amounts recorded as amortization of purchased intangibles arise from prior acquisitions and are non-cash in nature. We exclude these expenses because we believe they are not reflective of ongoing operating results in the period incurred and are not directly related to the operation of our business. ( C ) Stock-based compensation. We exclude these stock-based compensation expenses because they are non-cash expenses that we believe are not reflective of ongoing operation results. For the three months ended April 3, 2009 and March 28, 2008, stock-based compensation was allocated as follows: Three Months Ended ------------ Apr-03, Mar-28, 2009 2008 ---- ---- Cost of sales $438 $493 Research and development 784 917 Sales and Marketing 1,004 1,030 General and administrative 2,000 1,542 ----- ----- $4,226 $3,982 ------ ------ ( D ) Amortization of acquisition-related inventory step-up. The purchase accounting entries associated with our business acquisitions require us to record inventory at its fair value, which is sometimes greater than the previous book value of the inventory. The increase in inventory value is amortized to cost of sales over the period that the related product is sold. We exclude inventory step-up amortization from our non-GAAP measures because we do not believe it is reflective of our ongoing operating results, and it is not used by management to assess the core profitability of our business operations. ( E ) Merger and acquisition costs: These charges consist of external and incremental costs resulting directly from merger and acquisition activities. Because these expenses are non-recurring and unique to specific acquisitions, we believe they are not indicative of future operating results and that investors benefit from an understanding of our operating results without giving effect to them. ( F ) Income tax effect on non-GAAP adjustments. This amounts adjusts the provision for income taxes to reflect the effect of the non-GAAP adjustments on non-GAAP operating income. NON-GAAP RECONCILIATION REPORTING SEGMENTS (Dollars in thousands) (Unaudited) Reporting Segments ------------------ Engineering and Field Mobile Advanced Construction Solutions Solutions Devices ------------ --------- --------- ------- THREE MONTHS ENDED APRIL 3, 2009: Revenue $127,651 $99,157 $38,288 $23,858 GAAP operating income before corporate allocations: $2,509 $42,203 $3,148 $4,312 Stock-based compensation ( G ) 1,308 222 1,144 325 ----- --- ----- --- Non-GAAP operating income before corporate allocations: $3,817 $42,425 $4,292 $4,637 ------ ------- ------ ------ Non-GAAP operating margin (% of segment external net revenues) 3.0% 42.8% 11.2% 19.4% THREE MONTHS ENDED MARCH 28, 2008: Revenue $194,180 $88,037 $44,011 $29,068 GAAP operating income before corporate allocations: $36,954 $35,095 $2,453 $4,692 Stock-based compensation ( G ) 971 198 1,408 327 --- --- ----- --- Non-GAAP operating income before corporate allocations: $37,925 $35,293 $3,861 $5,019 ------- ------- ------ ------ Non-GAAP operating margin (% of segment external net revenues) 19.5% 40.1% 8.8% 17.3% ( G ) Stock-based Compensation. The amounts consist of expenses for employee stock options and purchase rights under our employee stock purchase plan determined in accordance with SFAS 123(R), which became effective for us on January 1, 2006. We discuss our operating results by segment with and with-out stock-based compensation expense, as we believe it is useful to investors to understand the impact of the application of SFAS 123(R) to our results of operations. Stock-based compensation not allocated to the reportable segments was approximately $1,227K and $1,078K for the three months ended April 3, 2009 and March 28, 2008, respectively.

Trimble

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

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

Zilog Announces Fourth Quarter and Financial Year 2009 Earnings Call

SAN JOSE, Calif., April 28 /PRNewswire-FirstCall/ -- Zilog, Inc. , a trusted supplier of application specific, embedded system-on-chip (SoC) solutions for industrial and consumer markets, today announced that it will release financial results for its fourth quarter and fiscal year ended March 31, 2009, on Monday, May 11, 2009 at 1:00 p.m. PDT (4:00 p.m. EDT). Following the release, members of Zilog's executive management team will conduct a conference call with analysts and investors at 2:00 p.m. PDT (5:00 p.m. EDT) to review the details of its financial results.

Analysts and investors may access the call by dialing (866) 713-8310 inside the United States or +1 (617) 597-5308 from outside of the United States, using participant passcode 34542629.

The earnings call will be available via podcast as an MP3 file from the Company's investor relations website following the call. A webcast is also being distributed in a listen-only mode through Zilog's website at http://www.zilog.com/ and over CCBN's Investor Distribution Network at http://www.companyboardroom.com/. Institutional investors can access the call via CCBN's password-protected event management site, StreetEvents (http://www.streetevents.com/). A webcast archive will be available at http://www.zilog.com/ in the "Company Info" section. A telephone replay of the conference call will also be available for one week after the conference call at (888) 286-8010 (U.S.) and +1 (617) 801-6888 (international) and can be accessed with passcode 30291941.

About Zilog, Inc.

Zilog is a trusted supplier of application specific, embedded system-on-chip (SoC) solutions for the industrial and consumer markets. From its roots as an award-winning architect in the microprocessor and microcontroller industry, Zilog has evolved its expertise beyond core silicon to include SoCs, single board computers, application specific software stacks and development tools that allow embedded designers quick time to market in areas such as energy management, monitoring and metering and motion detection. For more information, visit http://www.zilog.com/.

Zilog is a registered trademark of Zilog, Inc. in the United States and in other countries.

Contact: Daniel Francisco Francisco Group for Zilog 916-812-8814 dan@franciscogrp.com

Zilog, Inc.

CONTACT: Daniel Francisco of Francisco Group, +1-916-812-8814,
dan@franciscogrp.com, for Zilog

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

Monolithic Power Systems Announces First Quarter 2009 Results

SAN JOSE, Calif., April 28 /PRNewswire-FirstCall/ -- Monolithic Power Systems (MPS) , a leading fabless manufacturer of high-performance analog and mixed-signal semiconductors, today announced financial results for the quarter ended March 31, 2009.

The results for the quarter ended March 31, 2009 are as follows: -- Net revenues of $29.3 million, down 17.2% from $35.4 million in the first quarter of 2008 and down 15.5% sequentially from $34.7 million in the fourth quarter of 2008 -- Gross margin of 57.6%, compared to 63.2% in the first quarter of 2008 and 58.0% in the fourth quarter of 2008 -- GAAP operating expenses of $18.0 million, including $15.9 million for research and development and selling, general and administrative expenses, which includes $3.3 million for stock-based compensation, and $2.0 million for patent litigation expenses -- Non-GAAP(1) operating expenses of $14.6 million, excluding $3.3 million for stock-based compensation -- GAAP net loss of $0.7 million, with GAAP loss per share of $0.02 per diluted share -- Non-GAAP(1) net income of $2.3 million, or $0.06 per diluted share, excluding stock-based compensation and related tax effects

"In the second half of the quarter, we saw increased turns activities. As a result, our Q1 revenue was better than we expected," said Michael Hsing, chief executive officer and founder of MPS. "We are still cautiously optimistic about the next quarter. However, MPS is always ready for fast changing environments either in up or down markets. The last two quarters proved that. Despite a significant reduction in product demand, MPS will continue to focus on generating cash and delivering profits."

Business Outlook

The following are MPS' financial targets for the second quarter ending June 30, 2009:

-- Revenues in the range of $36.0 million to $40.0 million -- Gross margin slightly below the lower end of the company's target range of 60% to 63% -- Research and development and selling, general and administrative expenses between $17.5 million and $19.8 million. Non-GAAP(1) research and development and selling, general and administrative expenses between $14 million and $16 million. This excludes an estimate of stock-based compensation expense in the range of $3.5 million to $3.8 million -- Litigation expense in the range of $2.3 million to $2.7 million

(1) Non-GAAP net income, non-GAAP operating expenses and non-GAAP research and development and selling, general and administrative expense differ from net income, operating expenses, and research and development and selling, general and administrative expense determined in accordance with GAAP (Generally Accepted Accounting Principles in the United States). Non-GAAP net income for the quarter ended March 31, 2009 and 2008 excludes the effect of stock-based compensation expense and their related tax effects. Non-GAAP operating expenses for the quarter ended March 31, 2009 and 2008 exclude the effect of stock-based compensation expense. Projected non-GAAP research and development and selling, general and administrative expenses exclude the effect of stock-based compensation expense. A schedule reconciling these amounts is included in this news release. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. MPS utilizes both GAAP and non-GAAP financial measures to assess what it believes to be its core operating performance and to evaluate and manage its internal business and assist in making financial operating decisions. MPS believes that the inclusion of non-GAAP financial measures, together with GAAP measures, provides investors with an alternative presentation useful to investors' understanding of MPS' core operating results and trends. Additionally, MPS believes that the inclusion of non-GAAP measures, together with GAAP measures, provides investors with an additional dimension of comparability to similar companies. However, investors should be aware that non-GAAP financial measures utilized by other companies are not likely to be comparable in most cases to the non-GAAP financials measures used by MPS.

Conference Call

MPS plans to conduct a management teleconference covering its quarter ended March 31, 2009 results at 2:00 p.m. PT / 5:00 p.m. ET today, April 28, 2009. To access the conference call and following replay, go to http://ir.monolithicpower.com/ and click the webcast link. From this site, you can listen to the teleconference, assuming that your computer system is configured properly. In addition to the webcast replay, which will be archived for all investors for one year on the MPS website, a phone replay will be available for seven days after the live call at 617-801-6888, code number 30727222. This press release and any other information related to the call will also be posted on the website.

Safe Harbor Statement

This press release contains forward-looking statements regarding targeted revenues, gross margin, GAAP and non-GAAP research and development and selling, general and administrative expenses, stock-based compensation expense and litigation expense for the quarter ending June 30, 2009, and our outlook for the next quarter. These statements are not historical facts or guarantees of future performance or events, are based on current expectations, estimates, beliefs, assumptions, goals, and objectives, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from the results expressed by these statements. Readers of this press release and listeners to the accompanying conference call are cautioned not to place undue reliance on any forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, the risks, uncertainties and costs of litigation in which the company is involved; the outcome of any upcoming trials, hearings, motions, and appeals; any market disruptions or interruptions in MPS' schedule of new product release development; adverse changes in production and testing efficiency; adverse changes in government regulations in foreign countries where MPS has offices; acceptance of, or demand for, MPS' products being lower than expected; the adverse impact on MPS' financial performance if its tax and litigation provisions are inadequate; difficulty in predicting or budgeting for future expenses and financial contingencies; and other important risk factors identified in MPS' SEC filings, including, but not limited to, its Form 10-K filed on February 27, 2009.

The forward-looking statements in this press release represent MPS' targets, not predictions of actual performance. MPS assumes no obligation to update the information in this press release or in the accompanying conference call.

About Monolithic Power Systems, Inc.

Monolithic Power Systems, Inc. (MPS) develops and markets proprietary, advanced analog and mixed-signal semiconductors. The company combines advanced process technology with its highly experienced analog designers to produce high-performance power management integrated circuits (ICs) for DC to DC converters, LED drivers, Cold Cathode Fluorescent Lamp (CCFL) backlight controllers, Class D audio amplifiers, and Linear ICs. MPS products are used extensively in computing and network communications products, LCD monitors and TVs, and a wide variety of consumer and portable electronics products. MPS partners with world-class manufacturing organizations to deliver top quality, ultra-compact, high-performance solutions through the most productive, cost-efficient channels. Founded in 1997 and headquartered in San Jose, California, the company has expanded its global presence with sales offices in Taiwan, China, Korea, Japan, and Europe, which operate under MPS International, Ltd.

Monolithic Power Systems, MPS, and the MPS logo are registered trademarks of Monolithic Power Systems, Inc. in the U.S. and trademarked in certain other countries.

Consolidated Balance Sheet (Unaudited, in thousands, except par value) March 31, December 31, 2009 2008 ---------- ------------- ASSETS Current assets: Cash and cash equivalents $68,094 $83,266 Short-term investments 38,002 21,922 Accounts receivable, net of allowances of $8 and $0 in 2009 and 2008, respectively 13,367 9,115 Inventories 18,559 18,887 Deferred income tax assets, net - current 74 75 Prepaid expenses and other current assets 2,791 2,622 Restricted cash 7,350 7,360 ----- ----- Total current assets 148,237 143,247 ------- ------- Property and equipment, net 13,967 14,163 Long-term investments 37,340 37,425 Deferred income tax assets, net - long-term 19 19 Other assets 427 438 Restricted assets 7 7 --- --- Total assets $199,997 $195,299 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $8,363 $4,674 Accrued compensation and related benefits 3,789 7,848 Accrued liabilities 14,392 13,360 ------ ------ Total current liabilities 26,544 25,882 ------ ------ Non-current income tax liability 4,773 4,762 Other long-term liabilities 9 10 --- --- Total liabilities 31,326 30,654 ------ ------ Stockholders' equity: Common stock, $0.001 par value, $34 and $34 in 2009 and 2008, respectively; shares authorized: 150,000,000; shares issued and outstanding: 33,863,182 and 33,646,821 in 2009 and 2008, respectively 152,236 147,298 Retained earnings 16,683 17,411 Accumulated other comprehensive income (loss) (248) (64) Total stockholders' equity 168,671 164,645 ------- ------- Total liabilities and stockholders' equity $199,997 $195,299 ======== ======== Consolidated Income Statement (Unaudited, in thousands, except per share amounts) Three months ended March 31, ---------------- 2009 2008 ---- ---- Revenue $29,322 $35,409 Cost of revenue* 12,431 13,044 ------ ------ Gross profit 16,891 22,365 ------ ------ Operating expenses: Research and development* 8,117 7,572 Selling, general and administrative* 7,808 8,728 Provision for litigation expense 2,046 736 ------ ------ Total operating expenses 17,971 17,036 ------ ------ Income (loss) from operations (1,080) 5,329 Other income (expense): Interest and other income 385 1,434 Interest and other expense (94) (6) --- ----- Total other income, net 291 1,428 --- ----- Income (loss) before income taxes (789) 6,757 Income tax provision (benefit) (61) 822 ----- ------ Net income (loss) $(728) $5,935 ===== ====== Basic net income (loss) per share $(0.02) $0.18 ====== ===== Diluted net income (loss) per share $(0.02) $0.17 ====== ===== Weighted average common shares outstanding 33,696 33,340 Stock options and restricted stock - 2,551 --- ----- Diluted weighted-average common equivalent shares outstanding 33,696 35,891 ====== ====== * Stock-based compensation has been included in the following line items: Cost of revenue $81 $45 Research and development 1,560 1,207 Selling, general and administrative 1,772 1,535 ----- ----- Total $3,413 $2,787 ====== ====== RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME (in thousands, except per share amounts) ----- ------ Net income (loss) $(728) $5,935 ===== ====== Adjustments to reconcile net income to non-GAAP net income Stock-based compensation $3,413 $2,787 Tax effect (389) (1,087) ---- ------ Non-GAAP net income $2,296 $7,635 ------ ------ Non-GAAP earnings per share, excluding stock- based compensation and related tax effects: Basic $0.07 $0.23 Diluted $0.06 $0.21 Shares used in the calculation of non-GAAP earnings per share: Basic 33,696 33,340 Diluted 35,420 35,891 RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES (in thousands, except per share amounts) ------- ------- Total operating expenses $17,971 $17,036 ======= ======= Adjustments to reconcile total operating expenses to non-GAAP total operating expenses Stock-based compensation $(3,332) $(2,742) Non-GAAP total operating expenses $14,639 $14,294 ------- ------- 2009 Second Quarter Outlook RECONCILIATION OF R&D AND SG&A EXPENSES TO NON-GAAP R&D AND SG&A EXPENSES (in thousands, except per share amounts) Three months ending June 30, 2009 Low High --- ---- R&D and SG&A $17,500 $19,800 ======= ======= Adjustments to reconcile R&D and SG&A to non-GAAP R&D and SG&A Stock-based compensation (3,500) (3,800) ------ ------ Non-GAAP R&D and SG&A $14,000 $16,000 ------- -------

Monolithic Power Systems, Inc.

CONTACT: Rick Neely, Chief Financial Officer of Monolithic Power
Systems, Inc., +1-408-826-0777, investors@monolithicpower.com

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

GHL Acquisition Corp. and Iridium Holdings LLC Announce Amendment to Transaction Agreement-- Transaction Cost to GHL Acquisition Reduced by 15% to Reflect Changes in Market Valuation Levels Since Transaction Announcement-- Iridium Expects Full-Year 2009 Operational EBITDA of $120-130 million, Up 11 to 20% Over 2008, Reflecting Continued Strength of the Business in the Face of Weak Global Economy

NEW YORK and BETHESDA, Md., April 28 /PRNewswire-FirstCall/ -- GHL Acquisition Corp. (NYX: GHQ) ("GHL Acquisition") and Iridium Holdings LLC ("Iridium" or the "Company"), a leading provider of voice and data mobile satellite services, today jointly announced the signing of an amendment to the definitive agreement under which they plan to combine. Under the terms of the amendment, the aggregate consideration payable by GHL Acquisition to Iridium's existing shareholders will be reduced by 15%, a reflection of the changes in market valuation levels since the transaction was announced in September 2008. The amended agreement, unanimously approved by the Board of Directors of GHL Acquisition and Iridium as well as Iridium's major shareholders, values Iridium at an enterprise value of approximately $517.3 million(i).

Scott L. Bok, Chief Executive Officer of GHL Acquisition, said: "We continue to believe Iridium will be a great investment for us, and the Company's guidance today makes clear that the price reduction is a function of lower equity market valuations rather than any disappointments relative to the Company's strong record of growth and profitability. The new purchase price negotiated with Iridium's current shareholders takes into consideration the decline in global markets since the transaction was announced in September 2008, and allows the Company to retain a slightly larger cash balance post-transaction, reflecting both lower equity market valuations generally and our desire to reduce the Company's needs for future outside financing. With the amendments to our transaction agreement announced today, we believe the pro forma fully distributed valuation of our combined company is even more attractive relative to Iridium's closest comparables."

Matt Desch, Chief Executive Officer of Iridium, said: "Considering the current economic backdrop, Iridium's growth and profitability are a testament to the Company's business model and mission-critical position with its customers. We anticipate that our subscriber base will experience growth of approximately 20% this year. We also anticipate strong growth in commercial and government service revenues that will be partially offset by a decline in equipment sales, resulting in total revenue growth in the low single digits over the full year 2008. This, combined with our largely fixed cost business model, is expected to result in Operational EBITDA for the full year 2009 of between $120 and $130 million, implying a growth rate of between 11% and 20% over the full year 2008. With these strong results and the amendments to the transaction agreement announced today, we believe Iridium is better positioned than ever to complete the planned transaction and continue its impressive growth trajectory."

Separately, Greenhill & Co. agreed to forfeit 2.0 million additional warrants purchased by it from GHL Acquisition in a private placement concurrently with GHL Acquisition's IPO. In addition, GHL Acquisition has withdrawn its plan to launch a tender offer for GHL Acquisition shares concurrent with closing of the combination with Iridium.

Details of the Amended Transaction Under amended terms of the transaction: -- The transaction values Iridium at an enterprise value of approximately $517.3 million(i). -- Current shareholders of Iridium will receive $77.1 million of cash and approximately 29.4 million common shares upon completion of the transaction. Additionally, after closing of the transaction, current shareholders of Iridium will receive a $25.5 million payment for facilitating a step-up in the tax basis of Iridium's assets, resulting in future tax savings for the Company. -- Remaining cash held in trust will be available to retire Iridium's current net indebtedness of approximately $145.8 million, pay transaction-related expenses including deferred compensation to GHL Acquisition's underwriters, and be used by Iridium for general corporate purposes and capital expenditures. -- Greenhill & Co.'s $22.9 million pre-completion investment in Iridium will be convertible into approximately 1.9 million GHL Acquisition shares. -- Post-transaction and after the Greenhill & Co. forfeitures described below, GHL Acquisition will have approximately 78.4 million shares and 44.1 million warrants outstanding, assuming no GHL Acquisition public shareholders vote against the transaction and elect conversion. In the case that 30% of GHL Acquisition's current public shareholders vote against the transaction and elect conversion, approximately 68.4 million shares and 44.1 million warrants will be outstanding.

Completion of the transaction is subject to Federal Communications Commission approval, GHL Acquisition stockholder approval and other customary closing conditions, and is expected to occur this summer.

Securities Forfeitures by Greenhill & Co.

Effective upon completion of the transaction, Greenhill & Co. has agreed to forfeit the following GHL Acquisition securities which it currently owns: (1) 1,441,176 common shares; (2) 8,369,563 founder warrants; and (3) 4,000,000 private placement warrants. These forfeitures will reduce the combined company's shares and warrants outstanding immediately post-closing.

Necessary Steps for Consummation of the Transaction

GHL Acquisition cannot complete the transaction unless (1) a majority of the shares issued in the initial public offering cast at the Special Stockholders' Meeting, to be scheduled, are voted in favor of the transaction; (2) holders of no more than 11,999,999 shares of common stock (such number representing 30 percent minus one share of the 40,000,000 shares of GHL Acquisition issued in the initial public offering) vote against the transaction and validly exercise their conversion rights to have their shares converted into cash; and (3) certain other customary conditions are satisfied.

As provided in GHL Acquisition's certificate of incorporation, each holder of GHL Acquisition's common stock has the right to convert such holder's shares into cash if such holder votes against the transaction, validly exercises such holder's conversion rights and the transaction is approved and completed.

GHL Acquisition's initial stockholders have agreed to vote the 8,500,000 shares they already own, which were issued to them prior to GHL Acquisition's initial public offering, in accordance with the vote of the holders of a majority of the shares issued in the initial public offering.

Conference Call Information

GHL Acquisition and Iridium will host a conference call for analysts, investors and other interested parties on Wednesday, April 29, 2009, at 9:30 a.m. Eastern Time (ET) to discuss the transaction.

To participate, please call the toll-free number 866-481-9047 (U.S. callers only) or, from outside the U.S., 706-902-1870. The passcode for the live call is 97492335. For those unable to participate in the live call, a replay of the call will be available for 30 days toll-free at 800-642-1687 (U.S. callers only), or at 706-645-9291 (callers outside the U.S.). The passcode for the replay is 97492335.

Additional Facts about Iridium Holdings LLC

Iridium Holdings LLC, of which Iridium Satellite LLC (http://www.iridium.com/) is the primary subsidiary, is the only mobile satellite service (MSS) company offering coverage over the entire globe. The Iridium constellation of low-earth orbiting (LEO), cross-linked satellites provides critical voice and data services for areas not served by terrestrial communication networks. Iridium's subscriber growth has been driven by increasing demand for reliable, global communications. Iridium serves commercial markets through a worldwide network of hundreds of distributors, and provides services to the U.S. Department of Defense, and other U.S. and international government agencies. The company's customers represent a broad spectrum of industry, including maritime, aeronautical, government/defense, public safety, utilities, oil/gas, mining, forestry, heavy equipment and transportation. Iridium has launched a major development program for its next-generation satellite constellation, Iridium NEXT, which will result in continued and new Iridium MSS offerings. The company is headquartered in Bethesda, Md. and is currently privately held.

About GHL Acquisition Corp.

GHL Acquisition Corp. is a special purpose acquisition company, launched in February 2008 in an initial public offering raising $400 million of gross proceeds. Founded by Greenhill & Co., Inc., GHL Acquisition was formed for the purpose of acquiring, or acquiring control of, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, one or more businesses or assets. It currently has no operating businesses.

About Greenhill & Co., Inc.

Greenhill & Co., Inc. (http://www.greenhill.com/) is a leading independent investment bank that provides financial advice on significant mergers, acquisitions and restructurings; assists private funds in raising capital from investors; and manages merchant banking funds. It acts for clients located throughout the world from its offices in New York, London, Frankfurt, Tokyo, Toronto, Chicago, Dallas and San Francisco.

Non-GAAP Financial Measures

In addition to disclosing financial results that are determined in accordance with US GAAP, Iridium discloses Operational EBITDA, which is a non-GAAP financial measure and management believes it is the most comparable measure to GAAP net income. Operational EBITDA represents earnings before interest; income taxes; depreciation and amortization; Iridium NEXT (second-generation system development) revenue and expenses; and expenses associated with the proposed transaction with GHL Acquisition. Additionally, Operational EBITDA does not include the impact of purchase accounting and other transaction-related adjustments that will be reflected in post-transaction performance. Operational EBITDA does not represent and should not be considered an alternative to GAAP measurements, such as net income, and the Company's calculations thereof may not be comparable to similarly entitled measures reported by other companies. Management uses Operational EBITDA to manage the Company's business including preparation of its annual operating budget, financial projections and compensation plans.

The Company uses Operational EBITDA as a supplemental measure for operating performance because, by eliminating interest, taxes, depreciation and amortization, transaction expenses and Iridium NEXT revenue and expenses, the Company believes it is a useful measure across time in evaluating the Company's performance. The Company believes that Operational EBITDA is also useful to investors because like measures are frequently used by securities analysts, investors and other interested parties in their evaluation of companies in similar industries. As indicated, Operational EBITDA does not include interest expense on borrowed money or depreciation expense on the Company's capital assets or the payment of income taxes, which are necessary elements of the Company's operations. Because Operational EBITDA does not account for these expenses, its utility as a measure of the Company's operating performance has material limitations. Because of these limitations, the Company's management does not view Operational EBITDA in isolation and also uses other measurements, such as net income, revenues and operating profit, to measure operating performance. Iridium's calculations of Operational EBITDA may also differ from the calculation of Operational EBITDA or like measures by its competitors and other companies and, as such, their utility as comparative measures is limited.

Forward-Looking Statements

This communication 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. The words "anticipates", "may", "can", "believes", "expects", "projects", "intends", "likely", "will", "to be" and other expressions that are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of GHL Acquisition Corp. ("GHL Acquisition") and/or Iridium Holdings LLC ("Iridium") to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding the timing of the proposed transaction with Iridium, whether the estimates will be achieved, whether the transaction will be approved by GHL Acquisition's stockholders, whether the closing conditions will be satisfied (including receipt of regulatory approvals), as well as industry and economic conditions, competitive, legal, governmental and technological factors. There is no assurance that GHL Acquisition's or Iridium's expectations will be realized. If one or more of these risks or uncertainties materialize, or if our underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except for our ongoing obligations to disclose material information under the Federal securities laws, we undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.

Additional Information and Where To Find It

This communication is being made with respect to a proposed acquisition and related transactions involving GHL Acquisition and Iridium. In connection with these proposed transactions, GHL Acquisition has filed with the SEC a preliminary proxy statement (which it expects to amend shortly to reflect the revised terms of the transaction) and to mail a definitive proxy statement and other relevant documents to GHL Acquisition's stockholders. The information contained in this communication is not complete and may be changed. Before making any voting or investment decisions, GHL Acquisition's stockholders and other interested persons are urged to read, when it becomes available, GHL Acquisition's preliminary proxy statement, and any amendments thereto, and the definitive proxy statement in connection with GHL Acquisition's solicitation of proxies for the special meeting to be held to approve the acquisition and any other relevant documents filed with the SEC because they will contain important information about Iridium, GHL Acquisition and the proposed transactions. The definitive proxy statement will be mailed to GHL Acquisition stockholders as of a record date to be established for voting on the proposed acquisition. Stockholders and other interested persons will also be able to obtain a copy of the preliminary and definitive proxy statements once they are available, without charge, at the SEC's web site at http://www.sec.gov/ or by directing a request to: GHL Acquisition Corp., 300 Park Avenue, 23rd Floor, New York, New York, telephone: (212) 372-4180.

Participants in the Solicitation

GHL Acquisition and its directors and officers may be deemed to be participants in the solicitation of proxies to GHL Acquisition's stockholders in connection with the acquisition. A list of the names of those directors and officers and a description of their interests in GHL Acquisition is contained in GHL Acquisition's report on Form 10-K for the fiscal year ended December 31, 2008, which is filed with the SEC, and will also be contained in GHL Acquisition's proxy statement when it becomes available. GHL Acquisition's stockholders may obtain additional information about the direct and indirect interests of the participants in the acquisition, by security holdings or otherwise, by reading GHL Acquisition's proxy statement and other materials to be filed with the SEC when such information becomes available.

Nothing in this communication should be construed as, or is intended to be, a solicitation for or an offer to provide investment advisory services.

(i) Enterprise value is calculated as $77.1 million of cash to Iridium holders plus $294.4 million of GHL Acquisition shares (valued at $10.00 per share) to Iridium holders plus Iridium net indebtedness of $145.8 million as of December 31, 2008 (including $22.9 million Greenhill note).

Contacts For GHL Acquisition Corp. For Iridium James Babski Liz DeCastro GHL Acquisition Corp. Iridium 212-372-4180 301-571-6257 jbabski@greenhill.com liz.decastro@iridium.com Jeffrey Taufield Kekst and Company 212-521-4800 Jeffrey-taufield@kekst.com

GHL Acquisition Corp.

CONTACT: James Babski of GHL Acquisition Corp., +1-212-372-4180,
jbabski@greenhill.com; or Liz DeCastro of Iridium, +1-301-571-6257,
liz.decastro@iridium.com; or Jeffrey Taufield of Kekst and Company,
+1-212-521-4800, Jeffrey-taufield@kekst.com

RF Micro Devices Announces March 2009 Quarterly ResultsRFMD(R) Achieved $172.3 Million In Quarterly Revenue And Increased Cash, Cash Equivalents And Short-Term Investments Sequentially By $28 MillionBusiness Highlights:- Cash Flow From Operations Totaled Approximately $29 Million- RFMD Repurchased Approximately $22 Million Principal Amount Of Its 2014 Convertible Notes- RFMD Has Reduced Its Net Debt Position By Approximately $125 Million In The Past Three Quarters- Quarterly GAAP Diluted Loss Per Share Totaled ($0.19) And Quarterly Non-GAAP Diluted Loss Per Share Totaled ($0.10)- RFMD Grew Sequentially In Multiple 3G Markets In The March Quarter- RFMD Is Currently Booked For Sequential Revenue Growth And Expects Gross Margin Expansion And Approximately Breakeven Operating Profitability On A Non-GAAP Basis In The June Quarter

GREENSBORO, N.C., April 28 /PRNewswire-FirstCall/ -- RF Micro Devices, Inc. , a global leader in the design and manufacture of high-performance semiconductor components, today reported financial results for its fiscal 2009 fourth quarter ended March 28, 2009. RFMD's March quarterly revenue decreased approximately 14.7% sequentially to $172.3 million. GAAP gross margin decreased sequentially from 19.0% to 17.3%, and non-GAAP gross margin decreased from 22.6% to 19.8% during the same period, primarily as a result of lower factory utilization rates. Operating loss was approximately ($56.5) million on a GAAP basis and approximately ($21.4) million on a non-GAAP basis, reflecting reduced revenue and gross profit. Net loss was approximately ($49.4) million on a GAAP basis and approximately ($25.4) million on a non-GAAP basis.

RFMD(R) Product Group Highlights Cellular Products Group (CPG) -- CPG grew 3G revenue sequentially and continued to diversify its 3G customer base with multiple 3G multimode design wins -- CPG secured major GSM/GPRS design wins at top-five handset OEMs and leading platform providers -- CPG shipped production volumes of cellular components to all five of the world's top-five handset OEMs -- CPG expanded its smartphone customer base and increased its smartphone content opportunity across cellular front ends, cellular switches and low noise amplifiers (LNAs) -- CPG supported the launch of multiple 2G and 3G multimode handsets at a leading Korean handset OEM -- CPG expects near-term market share gains in China, Korea and Taiwan, based upon existing design activity -- CPG currently forecasts sequential growth in excess of the handset industry growth rate in the June quarter Multi-Market Products Group (MPG) -- MPG released 24 new RF components and 59 derivative products in the March quarter -- MPG received its first order to supply highly integrated multi-chip modules into new multi-standard wireless base stations, which can support 2G, 3G, 4G/LTE and WiMAX air interface standards -- MPG announced the formation of its GaN Foundry Services business unit featuring RFMD's state-of-the-art GaN semiconductor technology -- MPG anticipates increasing GaN-based revenue in fiscal 2010 related to CATV line amplifiers and defense and commercial power applications -- MPG enjoyed robust design activity supporting 3G cellular infrastructure in China, automatic meter reading (AMR), WiFi, defense and commercial power, electronic toll collection (ETC) and other applications -- MPG currently forecasts sequential growth in the June quarter GAAP RESULTS (in millions, except percentages and per % Change Q4 % Change share data) Q4 Fiscal Q3 Fiscal vs. Q3 Fiscal vs. Q4 2009 2009 2009 2008 2008 Revenue $172.3 $202.0 (14.7)% $220.6 (21.9)% Gross Margin 17.3% 19.0% (1.7)ppt 25.2% (7.9)ppt Operating Loss $(56.5) $(754.0) (92.5) % $(32.8) 72.2% Net Loss $(49.4) $(813.3) (93.9)% $(17.2) 186.4% Diluted LPS $(0.19) $ (3.09) (93.9)% $(0.06) 200.2% NON-GAAP RESULTS (excluding share-based compensation, amortization of intangibles, impairment of goodwill and intangibles, amortization of acquisition-related inventory step-up, manufacturing start-up costs, gain on retirement of convertible subordinated notes, restructuring and integration charges, and tax adjustment) (in millions, except percentages and per % Change Q4 % Change share data) Q4 Fiscal Q3 Fiscal vs. Q3 Fiscal vs. Q4 2009 2009 2009 2008 2008 Gross Margin 19.8% 22.6% (2.8)ppt 30.6% (10.8)ppt Operating Loss $(21.4) $(8.3) 156.2% $(13.4) 59.7% Net (Loss)Income $(25.4) $(12.9) 97.3% $2.2 (1,254.2)% Diluted (LPS )EPS $(0.10) $(0.05) 97.1% $0.01 (1,318.3)% Business Outlook

RFMD believes excess customer inventories were reduced in the March quarter, and demand activity has stabilized. RFMD is currently booked for sequential growth in the June quarter and expects to outpace the rate of growth of its primary markets during the same period.

-- RFMD currently expects significant gross margin expansion in the June quarter, with factory utilization rates approaching normalized levels -- RFMD currently expects approximately breakeven operating profitability on a non-GAAP basis in the June quarter -- RFMD currently expects its cash, cash equivalents and short-term investments will increase during the June quarter -- RFMD continues to anticipate $80-$120 million in free cash flow (net cash provided by operating activities minus property and equipment expenditures) during fiscal 2010

RFMD's actual quarterly and annual results may differ from these expectations and projections, and such differences may be material.

Comments From Management

Bob Bruggeworth, president and CEO of RFMD, said, "Despite the challenging macroeconomic environment, the RFMD team executed extremely well on a number of important Company goals. We took decisive steps to reduce manufacturing costs and operating expenses, and we lowered our requirements for future capital expenditures significantly.

"In the June quarter, we currently expect sequential revenue growth and significant gross margin expansion, resulting in approximately breakeven operating performance on a non-GAAP basis. Beyond the June quarter, we anticipate continued gross margin improvement, and we reiterate our gross margin target of 40%."

Dean Priddy, CFO and corporate vice president of administration of RFMD, said, "During the March quarter, RFMD continued to structure manufacturing costs and operating expenses in a manner that we believe will allow us to achieve our target operating model at reduced revenue levels while still investing in our growth. We idled our four-inch GaAs facility, which was less efficient and more costly than our six-inch facilities, and we reduced costs at our six-inch GaAs facility in the UK. We also announced plans to consolidate our Shanghai operations with our Beijing facility, and we expect this will reduce costs further beginning in the December quarter. We currently expect these steps and the benefit of the sharp increase in factory utilization will enable us to expand our gross margin significantly in the June 2009 quarter and in fiscal 2010.

"In addition, RFMD has reduced non-GAAP operating expenses by more than 30% year-over-year, and we are making progress converging on our expense model of 25% of sales. In total, RFMD has reduced annualized manufacturing costs and operating expenses by more than $130 million in the past four quarters. We are structured today to deliver superior financial leverage and significantly improved return on invested capital."

Non-GAAP Financial Measures

In addition to disclosing financial results calculated in accordance with United States (U.S.) generally accepted accounting principles (GAAP), RFMD's earnings release contains the following non-GAAP financial measures: (i) non-GAAP gross margin, (ii) non-GAAP operating (loss) income, (iii) non-GAAP net (loss) income, (iv) non-GAAP net (loss) income per diluted share, (v) free cash flow, and (vi) net debt. Each of these non-GAAP financial measures is either adjusted from GAAP results to exclude certain expenses or derived from multiple GAAP measures, which are outlined in the "Reconciliation of GAAP to Non-GAAP Financial Measures" table on page 9 and the "Additional Selected Non-GAAP Financial Measures And Reconciliations" table on page 10.

In managing RFMD's business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures. In developing and monitoring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce unit costs with the goal of increasing gross margin. In addition, management relies upon these non-GAAP financial measures to assess whether research and development efforts are at an appropriate level, and when making decisions about product spending, administrative budgets, and marketing programs. In addition, we believe that non-GAAP financial measures provide useful supplemental information to investors and enable investors to analyze the results of operations in the same way as management. We have chosen to provide this supplemental information to enable investors to perform additional comparisons of operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of certain non-cash expenses, unusual items and share-based compensation expense, which may obscure trends in RFMD's underlying performance.

We believe that these non-GAAP financial measures offer an additional view of RFMD's operations that, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of RFMD's results of operations and the factors and trends affecting RFMD's business. However, these non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.

Our rationale for using these non-GAAP financial measures, as well as their impact on the presentation of RFMD's operations, are outlined below:

Non-GAAP gross margin. Non-GAAP gross margin excludes share-based compensation expense, amortization of intangible assets, an adjustment for adverse macroeconomic conditions, adjustments for restructuring and integration charges and an adjustment for amortization of acquisition-related inventory step-up. We believe that exclusion of these costs in presenting non-GAAP gross margin gives management and investors a more effective means of evaluating RFMD's historical performance and projected costs and the potential for realizing cost efficiencies. We believe that the majority of RFMD's purchased intangibles are not relevant to analyzing current operations because they generally represent costs incurred by the acquired company to build value prior to acquisition, and thus are effectively part of transaction costs rather than ongoing costs of operating RFMD's business. In this regard, we note that (i) once the intangibles are fully amortized, the intangibles will not be replaced with cash costs and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time, and (ii) although we set the amortization expense based on useful life of the various assets at the time of the transaction, we cannot influence the timing and amount of the future amortization expense recognition once the lives are established. Similarly, we believe that presentation of non-GAAP gross margin and other non-GAAP financial measures that exclude the impact of share-based compensation expense assists management and investors in evaluating the period-over-period performance of RFMD's ongoing operations because (i) the expenses are non-cash in nature, and (ii) although the size of the grants is within our control, the amount of expense varies depending on factors such as short-term fluctuations in stock price volatility and prevailing interest rates, which can be unrelated to the operational performance of RFMD during the period in which the expense is incurred and generally is outside the control of management. Moreover, we believe that the exclusion of share-based compensation expense in presenting non-GAAP gross margin and other non-GAAP financial measures is useful to investors to understand the impact of the expensing of share-based compensation to RFMD's gross margins and other financial measures in comparison to both prior periods as well as to its competitors. We also believe that the adjustments to margin related to business acquisitions (amortization of acquisition-related inventory step-up), restructuring and integration charges and adverse macroeconomic conditions do not constitute part of RFMD's ongoing operations and therefore the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance.

We believe disclosure of non-GAAP gross margin has economic substance because the excluded expenses do not represent continuing cash expenditures and, as described above, we have little control over the timing and amount of the expenses in question.

Non-GAAP operating (loss) income. Non-GAAP operating (loss) income excludes share-based compensation expense, amortization of intangible assets, restructuring and integration charges, impairment of goodwill and intangibles, amortization of acquisition-related inventory step-up and manufacturing start-up costs. We believe that presentation of a measure of operating income that excludes amortization of intangible assets and share-based compensation expense is useful to both management and investors for the same reasons as described above with respect to our use of non-GAAP gross margin. We believe that restructuring charges, impairment of goodwill and intangibles, manufacturing start-up costs and amortization of acquisition-related inventory step-up do not constitute part of RFMD's ongoing operations and therefore, the exclusion of these costs provides management and investors with better visibility into the actual costs required to generate revenues over time and gives management and investors a more effective means of evaluating our historical and projected performance. We believe disclosure of non-GAAP operating income has economic substance because the excluded expenses are either non-recurring in nature or do not represent current cash expenditures.

Non-GAAP net (loss) income and non-GAAP net (loss) income per diluted share. Non-GAAP net (loss) income and non-GAAP net (loss) income per diluted share exclude the effects of share-based compensation expense, amortization of intangible assets, restructuring and integration charges, impairment of goodwill and intangibles, manufacturing start-up costs, amortization of acquisition-related inventory step-up and gain on retirement of convertible subordinated notes and also reflect an adjustment of income taxes. We believe that presentation of measures of net (loss) income and net (loss) income per diluted share that exclude these items is useful to both management and investors for the reasons described above with respect to non-GAAP gross margin and non-GAAP operating (loss) income. We believe disclosure of non-GAAP net (loss) income and non-GAAP net (loss) income per diluted share has economic substance because the excluded expenses are either non-recurring in nature, do not represent current cash expenditures, or are variable in nature and thus unlikely to become recurring expenses.

Free cash flow. RFMD defines free cash flow as net cash provided by operating activities during the period minus property and equipment expenditures made during the period. We use free cash flow as a supplemental financial measure in our evaluation of liquidity and financial strength. Management believes that this measure is useful as an indicator of our ability to service our debt, meet other payment obligations and make strategic investments. Free cash flow should be considered in addition to, rather than as a substitute for, net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. Additionally, our definition of free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations. Therefore, we believe it is important to view free cash flow as a measure that provides supplemental information to our entire statement of cash flows.

Net debt. RFMD defines net debt as total convertible debt at par less cash, cash equivalents and short-term investments. Management believes that this measure provides useful information regarding the level of RFMD's indebtedness by reflecting cash and investments that could be used to repay debt at or prior to maturity.

Limitations of non-GAAP financial measures. The primary material limitations associated with the use of non-GAAP gross margin, non-GAAP operating (loss) income, non-GAAP net (loss) income, non-GAAP net (loss) income per diluted share, free cash flow and net debt as compared to the most directly comparable GAAP financial measures of gross margin, operating (loss) income, net (loss) income, net (loss) income per diluted share, net cash provided by operating activities and total long-term debt are (i) they may not be comparable to similarly titled measures used by other companies in RFMD's industry, and (ii) they exclude financial information that some may consider important in evaluating our performance. We compensate for these limitations by providing full disclosure of the differences between these non-GAAP financial measures and the corresponding GAAP financial measures, including a reconciliation of the non-GAAP financial measures to the corresponding GAAP financial measures, to enable investors to perform their own analysis of our gross margin, operating (loss) income, net (loss) income, net (loss) income per diluted share, net cash provided by operating activities and total long-term debt.

RF Micro Devices will conduct a conference call at 5:00 p.m. EDT today to discuss today's press release. The conference call will be broadcast live over the Internet and can be accessed by any interested party at http://www.earnings.com/ or http://www.rfmd.com/ (under Investor Info). A telephone playback of the conference call will be available approximately one hour after the call's completion by dialing 303-590-3000 and entering pass code 11130336.

About RFMD

RF Micro Devices, Inc. is a global leader in the design and manufacture of high-performance semiconductor components. RFMD's products enable worldwide mobility, provide enhanced connectivity and support advanced functionality in the cellular handset, wireless infrastructure, wireless local area network (WLAN), CATV/broadband and aerospace and defense markets. RFMD is recognized for its diverse portfolio of semiconductor technologies and RF systems expertise and is a preferred supplier to the world's leading mobile device, customer premises and communications equipment providers.

Headquartered in Greensboro, N.C., RFMD is an ISO 9001- and ISO 14001-certified manufacturer with worldwide engineering, design, sales and service facilities. RFMD is traded on the NASDAQ Global Select Market under the symbol RFMD. For more information, please visit RFMD's web site at http://www.rfmd.com/.

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent management's current judgment and expectations, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under the federal securities laws. RF Micro Devices' business is subject to numerous risks and uncertainties, including variability in quarterly operating results, the impact of global macroeconomic and credit conditions on our business, the rate of growth and development of wireless markets, risks associated with our planned exit from our wireless systems business, including cellular transceivers and GPS solutions, the risk that restructuring charges may be greater than originally anticipated and that the cost savings and other benefits from the restructuring may not be achieved, the risk that the actual amount and impact of the non-cash impairment charges may vary from estimates, risks associated with the operation of our wafer fabrication facilities, molecular beam epitaxy facility, assembly facility and test and tape and reel facilities, our ability to complete acquisitions and integrate acquired companies, including the risk that we may not realize expected synergies from our business combinations, our ability to attract and retain skilled personnel and develop leaders, variability in production yields, our ability to reduce costs and improve gross margins by implementing innovative technologies, our ability to bring new products to market, our ability to adjust production capacity in a timely fashion in response to changes in demand for our products, dependence on a limited number of customers, and dependence on third parties. These and other risks and uncertainties, which are described in more detail in RF Micro Devices' most recent Annual Report on Form 10-K and other reports and statements filed with the Securities and Exchange Commission, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.

RF MICRO DEVICES(R) and RFMD(R) are trademarks of RFMD, LLC. All other trade names, trademarks and registered trademarks are the property of their respective owners.

RF MICRO DEVICES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three Months Ended March 28, 2009 March 29, 2008 Total revenue $172,320 $220,644 Costs and expenses: Cost of goods sold 142,486 164,961 Research and development 35,744 56,941 Marketing and selling 13,760 17,817 General and administrative 10,900 12,460 Other operating expense 25,952 1,297 Total costs and expenses 228,842 253,476 Operating loss (56,522) (32,832) Other income 9,333 3,581 Loss before income taxes $(47,189) $(29,251) Income tax (expense) benefit (2,190) 12,011 Net loss $(49,379) $(17,240) Net loss per share, diluted $(0.19) $(0.06) Weighted average outstanding diluted shares 263,409 276,085 RF MICRO DEVICES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) Twelve Months Ended March 28, 2009 March 29, 2008 (Unaudited) (Audited) Total revenue $886,506 $956,270 Costs and expenses: Cost of goods sold 669,163 681,314 Research and development 170,778 207,362 Marketing and selling 64,946 57,330 General and administrative 50,352 42,080 Other operating expense 800,563 19,085 Total costs and expenses 1,755,802 1,007,171 Operating loss (869,296) (50,901) Other income 12,781 22,992 Loss before income taxes $(856,515) $(27,909) Income tax (expense) benefit (42,109) 33,655 Net (loss) income $(898,624) $5,746 Net (loss) income per share, diluted $(3.42) $0.02 Weighted average outstanding diluted shares 262,493 230,299 RF MICRO DEVICES, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In thousands, except per share data) (Unaudited) Three Months Ended March 28, December 27, March 29, 2009 2008 2008 GAAP operating loss $(56,522) $(754,026) $(32,832) Share-based compensation expense 5,302 5,328 4,645 Amortization of intangible assets 3,873 7,239 7,682 Amortization of acquisition-related inventory step-up - - 5,482 Restructuring charges related to fiscal 2009 strategic restructuring and adverse macroeconomic conditions 12,401 59,903 - Impairment of goodwill and intangibles 13,485 673,027 - Other restructuring, integration charges and manufacturing start-up costs 75 182 1,634 Non-GAAP operating loss (21,386) (8,347) (13,389) GAAP net loss (49,379) (813,343) (17,240) Share-based compensation expense 5,302 5,328 4,645 Amortization of intangible assets 3,873 7,239 7,682 Amortization of acquisition-related inventory step-up - - 5,482 Restructuring charges related to fiscal 2009 strategic restructuring and adverse macroeconomic conditions 12,401 59,903 - Impairment of goodwill and intangibles 13,485 673,027 - Other restructuring, integration charges and manufacturing start-up costs 75 182 1,634 Gain on retirement of convertible subordinated notes (11,480) (10,667) - Tax adjustments 290 65,439 - Non-GAAP net (loss) income (25,433) (12,892) 2,203 Plus: Income impact of assumed Conversions for interest on 1.50% convertible notes - - - Non-GAAP net (loss) income plus assumed conversion of notes-Numerator for diluted income per share $(25,433) $(12,892) $2,203 GAAP weighted average outstanding diluted shares 263,409 263,227 276,085 Adjustments: Diluted stock options - - 1,952 Assumed conversion of 1.50% convertible notes - - - Non-GAAP weighted average outstanding diluted shares 263,409 263,227 278,037 Non-GAAP net (loss) income per share, diluted $(0.10) $(0.05) $0.01 GAAP gross margin percentage 17.3% 19.0% 25.2% Adjustment for intangible amortization 1.8% 2.5% 2.5% Adjustment for adverse macroeconomic conditions - 0.7% - Adjustment for amortization of acquisition-related inventory step-up - - 2.5% Adjustment for share-based compensation 0.7% 0.3% 0.2% Other restructuring and integration charges - 0.1% 0.2% Non-GAAP gross margin percentage 19.8% 22.6% 30.6% RF MICRO DEVICES, INC. AND SUBSIDIARIES ADDITIONAL SELECTED NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS (In millions) (Unaudited) Estimated Range for Fiscal Year Ending April 3, 2010 Free Cash Flow(1) Net cash provided by operating activities $90 $140 Purchases of property and equipment (10) (20) Free Cash Flow $80 $120 Net Debt (2) March 28, 2009 June 28, 2008 Total convertible debt at par $550 $605 Cash and cash equivalents (173) (117) Short-term investments (94) (80) Net Debt $283 $408 (1) Free Cash Flow is calculated as net cash provided by operating activities minus property and equipment expenditures. (2) Net Debt is calculated as total convertible debt at par less cash, cash equivalents and short-term investments. RF MICRO DEVICES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) March 28, March 29, 2009 2008 (Unaudited) (Audited) ASSETS Current assets: Cash and cash equivalents $172,989 $129,750 Restricted cash 63 504 Short-term investments 93,527 100,841 Accounts receivable, net 90,231 115,629 Inventories 113,611 190,753 Other current assets 37,883 84,556 Total current assets 508,304 622,033 Property and equipment, net 315,127 430,237 Goodwill 95,628 701,317 Long-term investments 20,183 26,336 Intangible assets, net 121,191 205,072 Other assets 19,446 32,200 Total assets $1,079,879 $2,017,195 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $98,004 $130,785 Current portion - long-term debt 156 233 Other short-term liabilities, net 5,606 4,573 Total current liabilities 103,766 135,591 Long-term debt, net 573,029 616,698 Other long-term liabilities 39,044 26,269 Total liabilities 715,839 778,558 Shareholders' equity: Total shareholders' equity 364,040 1,238,637 Total liabilities and shareholders' equity $1,079,879 $2,017,195

RF Micro Devices, Inc.

CONTACT: Dean Priddy, CFO, +1-336-678-7975, or Doug DeLieto, VP,
Investor Relations, +1-336-678-7968, both of RFMD; or Joe Calabrese,
+1-212-827-3772 of the Financial Relations Board

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

Highlighting Top New Emerging Consumer Technologies, Everything Channel in Conjunction With the Sightline Group Presents Fresh at RetailVision

BOCA RATON, Fla., April 28 /PRNewswire/ -- Today, at RetailVision, Everything Channel in conjunction with the Sightline Group announced the seven top emerging technology products at Fresh, A First Look at New Technology, a program designed for vendors with new consumer technology products, that are trying to reach retailers, distributors and industry experts serving the retail channel across North America and Latin America. The RetailVision conference is taking place April 27-29 at the Boca Raton Resort.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090428/NY06621LOGO )

"Fresh is a cutting-edge platform for companies with emerging technologies trying to reach the consumers market through the retail channel," said Robert Faletra, Chief Executive Officer of Everything Channel. "Our event serves as the ideal trigger point for a successful product launch for these companies to unveil their products to the industry's most important decision makers -- those that will ultimately decide if the technology fits their customers' needs."

The Fresh presentation highlights the key features of the selected participants' products in a lively multimedia production by Ray Robidoux and Fred Brown, partners of The Sightline Group, with a follow-up opportunity to engage with key attendees in one-on-one discussions. Products were presented in a unique stage format to all attending retail technology decision-makers, including top 100-level merchants, who are responsible for offering products and services to the consumer marketplace.

Products presented are listed in alphabetical order: -- Canson, Inc: Papershow

Since 1557, Canson has been inventing high quality paper for drawing, painting and watercolors. Papershow is an interactive paper and Bluetooth(TM) pen system used for digital communication and presentation applications, designed to make meetings more fun and engaging for all participants. The plug and play nature of Papershow's technology can revolutionize brainstorms and presentations, replacing antiquated flip charts and costly electronic whiteboards with fun, vibrant and interactive meetings anywhere, at any time. Papershow is compatible with PCs installed with Windows(R) XP Service Pack 2 (SP2) or Windows(R) Vista.

-- Cell Drive: The CELL DRIVE

SLD Marketing Group is the exclusive distributor for CELL DRIVE, the first of its kind multi-use portable device that provides cell phone backup power, battery charging, data syncing and storage capability. SLD represents several of the finest suppliers of battery packs and wireless sensor and telemetry technology to clients with an interest in the most innovative and leading edge solutions for mobile device power, battery pack technology and wireless sensor networks.

-- Fitbit, Inc.: The Fitbit Tracker

Fitbit has a company goal to make people aware of their overall fitness and well-being -- and to use technology to accomplish this in a motivating and entertaining way that appeals to people beyond just hard-core athletes. Fitbit Tracker keeps track of sleep time, walking distance and activity level. It also wirelessly updates fitness data to a personalized fitness website.

-- KONNET Technology Inc.: KONNET PowerPyramid

KONNET is a leading developer of professional audio/video, mobile entertainment and gaming products that enhance the performance and stimulate the true quality of digital entertainment. KONNET PowerPyramid charges and stores up to 4 PlayStation(R)3 and/or XBox(TM) 360 remote controllers at one time, without connecting to the game console.

-- NetSecure Technology: SmartSwipe

NetSecure Technologies is an advanced technology company specializing in Endpoint Security Solutions. SmartSwipe is the world's first secure personal credit card reader for home PC users. When processing credit card transactions online users should swipe credit card information to keep sensitive information safe from hackers. Patented Dynamic SSL technology encrypts the credit card information before it even reaches the computer, thus defeating malicious applications that may be waiting to steal your information.

-- Silicon Valley Global LLC: Tunebug Vibe, Tunebug Shake, Tunebug Quake

Tunebugs are ultra-portable sound generators that can be connected to MP3 players, mobile devices, laptops or any other device with an audio jack transforming many surfaces into a flat panel speaker.

-- TrickleStar(TM): PC TrickleSaver, TV TrickleSaver

TrickleStar(TM) develops affordable, easy to use products which help everyday people reduce electrical consumption in their homes and workplaces. The TrickleSaver(TM) products reduce the problem of standby or vampire power waste and helps PC and TV users reduce their electricity bills and carbon footprint.

To qualify to participate in Fresh, products were required to be demonstrable and not currently available in a wide spectrum of retail outlets.

RetailVision is the premier event for building alliances between top-level retailers, technology vendors, distributors and industry experts serving the retail channel across North America and Latin America. RetailVision is the event where new consumer technology products and retail channel programs are unveiled, retailer-vendor relationships are forged and critical retail merchandising decisions are made. The event provides an unparalleled opportunity for consumer technology retailers to identify new vendors, products and programs and to interact with vendors in an efficient and effective environment. RetailVision attendees include consumer electronics stores, computer and office supply superstores, direct marketing companies, clubs, buying groups, mass merchants, click-and-mortar, catalog resellers and online retailers.

For additional information on RetailVision, visit: http://www.everythingchannelevents.com/rvs09

The next Fresh, A First Look at New Technology event will be held at XChange Tech Innovators at the JW Marriott Resort & Spa in Las Vegas, November 16-19, 2009. The application form for Fresh can be found at http://www.freshnewtechnology.com/.

About The Sightline Group

The Sightline Group offers sales and marketing strategy, execution assistance and product launch expertise across numerous consumer technology product categories. The firm works with clients ranging from start-ups to Fortune 500 companies. The firm has earned an unparalleled reputation for forging vital alliances. Using its strong relationships with key executives across all major channels -- retailers, e-commerce vendors, catalogers, VARs, SIs and OEMs -- the Sightline Group can quickly introduce clients and their products to the right people. Past clients include Logitech, iRobot, Acer, Qualcomm and Eye-Fi. For more information, visit sightlinegroup.com.

Everything Channel (http://www.everythingchannel.com/, http://www.channelweb.com/ )

Everything Channel is the one-stop shop for accessing, enabling, managing and accelerating technology sales channels. From branding and recruiting to marketing and sales, Everything Channel offers technology marketers the unmatched breadth and depth of global brands and market intelligence combined with unparalleled audience loyalty and credibility serving all technology sales channels through an extensive database. Everything Channel provides innovative sales and marketing solutions to arm the sellers of technology with the resources they need to achieve measurable and significant results.

About United Business Media Limited (http://www.unitedbusinessmedia.com/)

UBM (UBM.L) focuses on two principal activities: worldwide information distribution, targeting and monitoring; and, the development and monetisation of B2B communities and markets. UBM's businesses inform markets and serve professional commercial communities - from doctors to game developers, from journalists to jewellery traders, from farmers to pharmacists - with integrated events, online, print and business information products. Our 6,500 staff in more than 30 countries are organised 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.

Contact Lindsey Smart Everything Channel 603 471 4274 lsmart@everythingchannel.com

Photo: http://www.newscom.com/cgi-bin/prnh/20090428/NY06621LOGO
PRN Photo Desk, photodesk@prnewswire.com Everything Channel

CONTACT: Lindsey Smart, Everything Channel, +1-603-471-4274,
lsmart@everythingchannel.com

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

National Instruments Reports Q1 2009 Results

AUSTIN, Texas, April 28, 2009 /PRNewswire-FirstCall/ -- National Instruments reported quarterly revenue for Q1 2009 of $158 million, representing an 18 percent year-over-year decline. Net income for Q1 was $0.4 million. Non-GAAP net income was $3.1 million, with non-GAAP fully diluted earnings per share (EPS) of $0.04. The company's non-GAAP results exclude the impact of both stock-based compensation and the amortization of acquisition-related intangibles. Reconciliations of the company's GAAP and non-GAAP results are included as part of this news release.

"Our commitment to investing in R&D has generated a product portfolio that disrupts traditional approaches and empowers engineers and scientists to improve productivity at a lower cost," said James Truchard, NI president, co-founder and CEO. "We believe these challenging times will create an opportunity for a long-term shift in industry leadership. I believe by sustaining our investment in R&D and the field sales channel, and by acquiring key new talent, we will be able to gain market share and return to growth in 2010."

In Q1 2009, NI virtual instrumentation and graphical system design products, which constitute the majority of the company's product portfolio, experienced a 16 percent year-over-year revenue decline. Sales of NI instrument control products, which now represent approximately 6 percent of NI revenue, were down 42 percent year-over-year in Q1 2009. These instrument control products are the most economically sensitive portion of NI revenue, and the company expects the year-over-year revenue trend in instrument control to continue to be very weak in Q2 and Q3 2009.

In Q1 2009, product revenue was $143 million, down 21 percent from Q1 2008, and software maintenance revenue was $14 million, up 29 percent year-over-year.

With the quarterly average of the global Purchasing Managers Index (PMI) reaching a record low of 36 for Q1, NI saw the effect of the global recession worldwide. Revenue in U.S. dollar terms for Q1 2009 compared to Q1 2008 was down 18 percent in the Americas, down 16 percent in Europe and down 21 percent in Asia, equaling an overall revenue decline of 18 percent. The company believes that European performance was helped by the shift in Easter from Q1 in 2008 to Q2 in 2009, and that this shift will have a corresponding negative impact on Europe in Q2 2009. In local currency terms, revenue was down 14 percent in Europe and down 15 percent in the Americas and Asia for an overall local currency decline of 15 percent.

Total operating expenses for the quarter were down 5 percent year-over-year, illustrating the strong fiscal discipline that has been exercised throughout the organization in response to the severe downturn in the global industry economy.

As of March 31, 2009, NI had $241 million in net cash and short-term investments, up $6 million from December 31, 2008. During Q1 2009, the company paid $9.3 million in dividends and used $9.2 million to repurchase 489,000 shares of its common stock. National Instruments announced that its Board of Directors declared a dividend of $0.12 per share on its common stock payable on June 1, 2009, to shareholders of record on May 11, 2009.

Q1 2009 Highlights -- Quarterly revenue of $158 million, down 18 percent year-over-year -- Net income of $0.4 million -- Non-GAAP net income of $3.1 million -- Cash and short-term investments of $241 million -- NI Wi-Fi data acquisition named the Test Product of the Year by Test & Measurement World Outlook

As the company moved through Q1 there was improvement in the global PMI; however, its current level of 36 indicates that the industrial economy was still declining rapidly through the end of March and that conditions will likely remain weak throughout 2009. The 25 percent decline in company revenue from Q3 2008 to Q1 2009 is a reflection of the challenging economic environment. This period of rapid decline seems to have passed and the company's daily order rate in absolute dollars has stabilized.

"With the global PMI quarterly average hitting a record low in Q1, our primary financial goals are to maintain the financial strength of the company and to take advantage of the opportunity the recession creates," said Alex Davern NI CFO. "Key strategies to achieving our goals are the maintenance of stable gross margins and optimization of our operating expense cost structure while maintaining very strong employee productivity. If we can achieve these goals we believe we will be in a very good position to generate significant positive operating leverage when revenues recover."

Specific Guidance for Q2 and 2009

The current economic uncertainty has limited the company's visibility for Q2 and as a result, the company will not provide revenue and EPS guidance for the second quarter at this time, and has scheduled a business update call for June 9 at 4:00 p.m. when the company expects to have a clearer picture of the quarter.

On the expense side, the company will continue to be very prudent in managing expenses. National Instruments will sustain its strategic investments in R&D and field sales, while reducing discretionary expenses elsewhere. As a result, since the NI Business Update Call on March 9, 2009 spending plans for the full year 2009 have been reduced by a further $25 million, in order to better position the company to deal with the extended economic uncertainty. For Q2 2009, NI is budgeting for a year-over-year decrease of approximately 11 percent in total non-GAAP operating expense. For the full year 2009, NI is now budgeting for a 10 percent year-over-year reduction in non-GAAP operating expenses compared to a 14 percent year-over-year increase in 2008.

Non-GAAP Earnings Presentation and Non-GAAP Expense Guidance

In addition to disclosing results determined in accordance with GAAP, NI discloses certain non-GAAP operating results and non-GAAP information that exclude certain charges. In this news release, the company has presented its net income and EPS for Q1 2009 and its budgeted operating expenses for 2009 and Q2 2009 on a GAAP and non-GAAP basis. When presenting non-GAAP information, the company includes a reconciliation of the non-GAAP data to the GAAP data.

Management believes that including the non-GAAP results assists investors in assessing the company's operational performance and its performance relative to its competitors. The company presents these non-GAAP results as a complement to results provided in accordance with GAAP, and these results should not be regarded as a substitute for GAAP. Management uses these non-GAAP measures to manage and assess the profitability and performance of its business and does not consider stock-based compensation expense or amortization of acquired intangibles that are all non-cash charges in managing its operations. Specifically, management uses non-GAAP measures to plan and forecast future periods, to establish operational goals, to compare with its business plan and individual operating budgets, to measure management performance for purposes of executive compensation including payments to be made under bonus plans, to assist the public in measuring the company's performance relative to the company's long-term public performance goals, to allocate resources and, relative to the company's historical financial performance, to enable comparability between periods. Management also considers such non-GAAP results to be an important supplemental measure of its performance.

Conference Call Information

Interested parties can listen to the Q1 2009 conference call today, April 28, beginning at 4:00 p.m. CDT, at http://www.ni.com/call. Replay information is available by calling (888) 203-1112, confirmation code # 9945484, from April 28 at 7:00 p.m. CDT through May 3 at midnight CDT.

Forward-Looking Statements

This release contains "forward-looking statements," including statements related to the opportunity for a long term shift in industry leadership, our focus on continued investment in R&D, leveraging our field sale channel, acquiring key new talent and gaining market share, returning to revenue growth in 2010, instrument control products being the most economically sensitive portion of our revenue, revenue trend for instrument control products continuing to be very weak in Q2 and Q3 2009, expected corresponding negative impact of Easter holiday in Europe in Q2, period of rapid decline seems to have past, daily order rate stabilizing, conditions in our markets remaining very weak through 2009, our primary financial goals of maintaining financial strength and taking advantage of the opportunity the recession creates, our key strategies to achieve our goals being the maintenance of stable gross margins and optimization of our operating expense cost structure while maintaining employee productivity, our belief that if we can achieve our goals we will be in a very good position to generate significant positive operating leverage when revenues recover, continuing to be very prudent in managing our expenses, sustaining our strategic investments in R&D and field sales while reducing discretionary expenses elsewhere, our spending plans for the full year 2009 and our budgeted operating expenses for the full year 2009 and Q2 2009. These statements are subject to a number of risks and uncertainties, including the risk of further adverse changes or fluctuations in the global economy, delays in the release of new products, fluctuations in customer demand for NI products, our ability to continue to control our operating expenses, manufacturing inefficiencies and foreign exchange fluctuations. Actual results may differ materially from the expected results. The company directs readers to documents it files with the SEC for other risks associated with the company's future performance.

About National Instruments

National Instruments (http://www.ni.com/) is transforming the way engineers and scientists design, prototype and deploy systems for measurement, automation and embedded applications. NI empowers customers with off-the-shelf software such as NI LabVIEW and modular cost-effective hardware, and sells to a broad base of more than 30,000 different companies worldwide, with no one customer representing more than 3 percent of revenue and no one industry representing more than 15 percent of revenue. Headquartered in Austin, Texas, NI has more than 5,000 employees and direct operations in more than 40 countries. For the past 10 years, FORTUNE magazine has named NI one of the 100 best companies to work for in America. Readers can obtain investment information from the company's investor relations department by calling (512) 683-5090, e-mailing nati@ni.com or visiting http://www.ni.com/nati.

Contact: Veronica Garza Investor Relations (512) 683-6873 National Instruments Condensed Consolidated Balance Sheets (in thousands) March 31, December 31, 2009 2008 (unaudited) ---------- ---- Assets Current assets: Cash and cash equivalents $227,448 $229,400 Short-term investments 14,044 6,220 Accounts receivable, net 90,917 121,548 Inventories, net 102,618 107,358 Prepaid expenses and other current assets 45,827 43,062 Deferred income taxes, net 22,430 21,435 ------ ------ Total current assets 503,284 529,023 Long-term investments 10,500 10,500 Property and equipment, net 150,793 154,477 Goodwill, net 64,168 64,561 Intangible assets, net 42,688 41,915 Other long-term assets 35,215 32,115 ------ ------ Total assets $806,648 $832,591 ======== ======== Liabilities and Stockholders' Equity Current liabilities: Accounts payable $25,129 $30,876 Accrued compensation 19,408 22,012 Deferred revenue 44,965 45,514 Accrued expenses and other liabilities 13,298 18,848 Other taxes payable 10,269 13,481 ------ ------ Total current liabilities 113,069 130,731 Deferred income taxes 25,422 25,157 Other long-term liabilities 12,380 12,265 ------ ------ Total liabilities 150,871 168,153 ======= ======= Stockholders' equity: Preferred stock - - Common stock 772 772 Additional paid-in capital 42,972 39,673 Retained earnings 604,583 613,510 Accumulated other comprehensive income 7,450 10,483 ------ ------ Total stockholders' equity 655,777 664,438 ------- ------- Total liabilities and stockholders' equity $806,648 $832,591 ======== ======== National Instruments Condensed Consolidated Statements of Income (in thousands, except per share data) Three Months Ended March 31, 2009 2008 (unaudited) (unaudited) ---------- ---------- Net revenue: Products $143,450 $181,790 Software maintenance 14,349 11,128 ------ ------ Total net revenue 157,799 192,918 Cost of revenue: Cost of products 39,556 47,667 Cost of software maintenance 1,327 1,402 ----- ----- Total cost of revenue 40,883 49,069 ------ ------ Gross profit 116,916 143,849 ------- ------- Operating expenses: Sales and marketing 68,826 73,517 Research and development 34,789 35,604 General and administrative 15,780 16,663 ------ ------ Total operating expenses 119,395 125,784 ------- ------- Operating income (2,479) 18,065 Other income (expense): Interest income 589 2,137 Net foreign exchange gain (loss) (702) 1,548 Other income (expense), net 163 61 --- --- Income before income taxes (2,429) 21,811 Provision for (benefit from) income taxes (2,787) 4,195 Net income 358 17,616 --- ------ Basic earnings per share $0.00 $0.22 ----- ----- Diluted earnings per share $0.00 $0.22 ----- ----- Weighted average shares outstanding - Basic 77,277 78,840 Diluted 77,436 79,825 Dividends declared per share $0.12 $0.11 National Instruments Condensed Consolidated Statements of Cash Flows (in thousands) Three Months Ended March 31, 2009 2008 (unaudited) (unaudited) ---------- ---------- Cash flow from operating activities: Net income $358 $17,616 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 8,385 10,675 Stock-based compensation 5,082 4,739 Benefit from deferred income taxes (1,486) (2,711) Tax expense (benefit from) stock option plans 242 (161) Changes in operating assets and liabilities: Accounts receivable 30,631 5,112 Inventories 4,740 (7,099) Prepaid expenses and other assets (5,766) (5,677) Accounts payable (5,747) 5,241 Deferred revenue (549) 3,574 Taxes and other liabilities (11,084) (867) ------- ---- Net cash provided by operating activities 24,806 30,442 ------ ------ Cash flow from investing activities: Capital expenditures (3,004) (5,051) Capitalization of internally developed software (3,114) (1,528) Additions to other intangibles (1,340) (431) Acquisition, net of cash received - (17,055) Purchases of short-term and long-term investments (11,850) (12,638) Sales and maturities of short-term and long-term investments 4,026 66,208 Purchases of foreign currency option contracts - (1,481) --- ------ Net cash (used by) provided by investing activities (15,282) 28,024 ------- ------ Cash flow from financing activities: Proceeds from issuance of common stock 7,237 10,197 Repurchase of common stock (9,186) (49,081) Dividends paid (9,285) (8,717) Tax benefit from stock option plans (242) 161 ---- --- Net cash used in financing activities (11,476) (47,440) ------- ------- Net change in cash and cash equivalents (1,952) 11,026 Cash and cash equivalents at beginning of period 229,400 194,839 ------- ------- Cash and cash equivalents at end of period $227,448 $205,865 ======== ======== Detail of GAAP charges related to stock-based compensation and amortization of acquisition intangibles (unaudited) Three Months Ended March 31, 2009 2008 (unaudited) (unaudited) ---------- ---------- Stock-based compensation Cost of sales $310 $244 Sales and marketing 2,185 2,007 Research and development 1,737 1,727 General and administrative 799 754 --- --- Provision for income taxes (3,014) (1,083) ------ ------ Total $2,017 $3,649 ------ ------ Amortization of acquisition intangibles Cost of sales $887 $850 Sales and marketing 126 141 Research and development - 9 General and administrative - - --- --- Provision for income taxes (280) (268) ---- ---- Total $733 $732 ---- ---- National Instruments Reconciliation of GAAP to Non-GAAP Measures (in thousands, except per share data) (unaudited) Reconciliation of Gross Profit to Non-GAAP Gross Profit Three Months Ended March 31, 2009 2008 ---- ---- Gross profit, as reported $116,916 $143,849 Stock-based compensation 310 244 Amortization of acquisition intangibles 887 850 --- --- Non-GAAP gross profit $118,113 $144,943 ======== ======== Reconciliation of Operating Expenses to Non-GAAP Operating Expenses Three Months Ended March 31, 2009 2008 ---- ---- Operating expense, as reported $119,395 $125,784 Stock-based compensation 4,721 4,488 Amortization of acquisition intangibles 126 150 --- --- Non-GAAP operating expenses $114,548 $121,146 ======== ======== Reconciliation of Operating Income to Non-GAAP Operating Income Three Months Ended March 31, 2009 2008 ---- ---- Operating income, as reported $(2,479) $18,065 Stock-based compensation 5,031 4,732 Amortization of acquisition intangibles 1,013 1,000 ----- ----- Non-GAAP operating income $3,565 $23,797 ====== ======= Reconciliation of Income before income taxes to Non-GAAP Income before income taxes Three Months Ended March 31, 2009 2008 ---- ---- Income before income taxes, as reported $(2,429) $21,811 Stock-based compensation 5,031 4,732 Amortization of acquisition intangibles 1,013 1,000 ----- ----- Non-GAAP income before income taxes $3,615 $27,543 ====== ======= Reconciliation of Provision for Income Taxes to Non-GAAP Provision for Income Taxes Three Months Ended March 31, 2009 2008 ---- ---- Provision for income taxes, as reported $(2,787) $4,195 Stock-based compensation 3,014 1,083 Amortization of acquisition intangibles 280 268 --- --- Non-GAAP provision for income taxes $507 $5,546 ==== ====== Reconciliation of Net Income and Diluted EPS to Non-GAAP Net Income and Non-GAAP Diluted EPS Three Months Ended March 31, 2009 2008 ---- ---- Net income, as reported $358 $17,616 Adjustments to reconcile net income to non-GAAP net income: Stock-based compensation, net of tax effect 2,017 3,649 Amortization of acquisition intangibles, net of tax effect 733 732 --- --- Non-GAAP net income $3,108 $21,997 ====== ======= Basic EPS, as reported $0.00 $0.22 Adjustment to reconcile basic EPS to non-GAAP basic EPS: Impact of stock-based compensation, net of tax effect $0.03 $0.05 Impact of amortization of acquisition intangibles, net of tax effect $0.01 $0.01 ----- ----- Non-GAAP basic EPS $0.04 $0.28 ===== ===== Diluted EPS, as reported $0.00 $0.22 Adjustment to reconcile diluted EPS to non-GAAP diluted EPS: Impact of stock-based compensation, net of tax effect $0.03 $0.05 Impact of amortization of acquisition intangibles, net of tax effect $0.01 $0.01 ----- ----- Non-GAAP diluted EPS $0.04 $0.28 ===== ===== Weighted average shares outstanding - Basic 77,277 78,840 ------ ------ Diluted 77,436 79,825 ------ ------ National Instruments Reconciliation of GAAP to Non-GAAP Measures (in thousands, except per share data) (unaudited) Reconciliation of Q2 Operating Expense Guidance Three Months Ended June 30, 2009 ---- GAAP operating expense % reduction -11% Stock-based compensation 11% Amortization of acquisition intangibles -22% ---- Non-GAAP operating expense % reduction -11% ==== Reconciliation of full year 2009 Operating Expense Guidance Year Ended December 31, 2009 ---- GAAP operating expense % reduction -9% Stock-based compensation 18% Amortization of acquisition intangibles -13% ---- Non-GAAP operating expense % reduction -10% ====

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http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com National Instruments

CONTACT: Veronica Garza, Investor Relations of National Instruments,
+1-512-683-6873

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

German CRO clinicalprojects international GmbH Becomes Newest Member of DATATRAK's CRO Connect Program(TM)

CLEVELAND, April 28 /PRNewswire-FirstCall/ -- DATATRAK International, Inc. , a technology and services company focused on global eClinical solutions for the clinical trials industry, today reported that clinicalprojects international GmbH (CPI), a German CRO, has become the newest member of the DATATRAK CRO Connect Program(TM). The latest addition to a rapidly growing list of CROs, CPI is able to expand its electronic data capture (EDC) capabilities and empower its staff to more efficiently manage both its paper and EDC studies.

"After a thorough evaluation of various EDC systems, we are glad to join DATATRAK's CRO Connect Program," stated Jorg Breitkopf, Managing Director of CPI. "DATATRAK's eClinical system brings high value to CPI and our clients. We are now able to offer cost-effective CDMS/EDC services for paper - and EDC studies by using only one system."

"We applaud CPI's choice to utilize a single system for both paper and EDC," said Larry Birch, DATATRAK CEO. "As a new member of our CRO Connect Program, CPI will not only benefit from specialized pricing, but also from the internal efficiencies gained by DATATRAK's unified platform offering paper, EDC and hybrid studies. As our new partner, we look forward to providing added value to CPI's service offering."

DATATRAK's CRO Connect Program is a collaborative initiative with CROs that offers the benefits of our comprehensive DATATRAK eClinical(TM) solution through an innovative Enterprise Transfer program. This program allows CROs to package their services around our eClinical(TM) platform in order to gain efficiencies and increased market share. The CRO Connect Program's flexible pricing and specialized consulting and professional services provides participants with the tools necessary to realize new growth opportunities.

About CPI.

As an independent contract research organization (CRO) located near Bonn, Germany, CPI offers a full range of services to (bio)pharmaceutical and medical device clients, extending from Phase I to Phase IV. While giving priority to delivering the highest quality data, CPI is not only able to achieve client's targeted enrollment rates and projected timelines, but also succeeds to meet their budgetary goals. CPI consists of highly-experienced, customer-oriented and professional staff members that stand out due to their profound knowledge of ICH-GCP, compliancy with the regulatory guidelines and excessive dedication to their projects. CPI tailors its teams and processes to meet client expectations, serving as their consultants and partners. Visit the CPI web site at http://www.clinicalprojects.de/.

About DATATRAK International, Inc.

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

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

DATATRAK International, Inc.

CONTACT: Raymond J. Merk, Chief Financial Officer and Chief Operating
Officer, DATATRAK International, Inc., +1-440-443-0082 x181

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

Telanetix to Hold First Quarter 2009 Results Conference Call on May 13, 2009

BELLEVUE, Wash., April 28 /PRNewswire-FirstCall/ -- Telanetix, Inc. (OTC BB: TNXI), a leading communications solutions provider offering next generation voice services and video telepresence solutions to the business market, is scheduled to host a conference call to discuss the 1st quarter results on Wednesday, May 13, 2009 at 10:00 a.m. PT (1:00 p.m. ET). Management will deliver prepared remarks and conduct a question and answer session.

To access the call in the United States, dial 866.711.8198 and to access the call internationally, dial 617.597.5327 and enter pass code 78648928. The call will also be broadcast live over the Internet and will be available for replay for 90 days at http://www.telanetix.com/. A telephone replay will be available two hours after the call through May 16, 2009 by dialing 888-286-8010 in the United States and 617-801-6888 for international callers. All parties will need the following replay pass code 47251761.

About Telanetix, Inc.

Telanetix is a leading communications solutions provider offering next generation voice services and video telepresence solutions to the business market. Telanetix solutions meet the real-world communications demands of its customers with powerful, cost effective industry-leading communication solutions. The company's video telepresence offering, marketed under the Telanetix Digital Presence(TM) brand, creates fully immersive and interactive meeting environments that incorporate voice, video and data from multiple locations into a single environment. The company's voice offerings, marketed under the "AccessLine" brand, give business customers a flexible, easy to use, cost effective alternative to today's traditional phone service, offering flexible calling solutions, a simpler installation experience, and a greater range of support options than traditional telecom providers. Additional information may be found at the Telanetix corporate website, http://www.telanetix.com/.

Telanetix, Inc.

CONTACT: Paul Quinn of Telanetix, Inc., +1-206-515-9160,
pquinn@telanetix.com; or Media, Todd Barrish of Dukas PR, +1-212-704-7385,
todd@dukaspr.com

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

Hulu Continues Ascent in U.S. Online Video Market, Breaking Into Top 3 Properties by Videos Viewed for First Time in MarchAverage U.S. Viewer Watched 5.5 Hours of Online Video During the Month, According to comScore Video Metrix

RESTON, Va., April 28 /PRNewswire-FirstCall/ -- comScore , a leader in measuring the digital world, today released March 2009 data from the comScore Video Metrix service, showing that U.S. Internet users viewed 14.5 billion online videos during the month, representing an increase of 11 percent versus February.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO) Google Sites Accounts for 41 Percent of U.S. Online Video Market

In March, Google Sites once again ranked as the top U.S. video property with 5.9 billion videos viewed (40.9 percent online video market share), with YouTube.com accounting for more than 99 percent of all videos viewed at the property. Fox Interactive Media ranked second with 437 million videos (3.0 percent), followed by Hulu with 380 million (2.6 percent) and Yahoo! Sites with 335 million (2.3 percent). March represented the first time Hulu has cracked the top three in the ranking of videos viewed.

Top U.S. Online Video Properties* by Videos Viewed March 2009 Total U.S. - Home/Work/University Locations Source: comScore Video Metrix Property Videos Share (%) of (000) Videos Total Internet 14,468,345 100.0 Google Sites 5,919,530 40.9 Fox Interactive Media 437,098 3.0 Hulu 380,102 2.6 Yahoo! Sites 334,724 2.3 Microsoft Sites 288,239 2.0 Viacom Digital 277,753 1.9 CBS Interactive 191,686 1.3 Turner Network 167,323 1.2 Disney Online 125,248 0.9 AOL LLC 105,237 0.7 *Rankings based on video content sites; excludes video server networks. Online video includes both streaming and progressive download video. Google Sites Eclipses 100 Million Viewer Threshold Once Again

Nearly 150 million U.S. Internet users watched an average of 97 videos per viewer in March. Google Sites eclipsed the 100 million online video viewer threshold once again, after first achieving the milestone in December 2008. Fox Interactive ranked second with 55.2 million viewers, followed by Yahoo! Sites (42.5 million) and Hulu (41.6 million).

Top U.S. Online Video Properties* by Unique Viewers March 2009 Total U.S. - Home/Work/University Locations Source: comScore Video Metrix Property Unique Viewers Average Videos (000) per Viewer Total Internet 149,410 96.8 Google Sites 100,382 59.0 Fox Interactive Media 55,156 7.9 Yahoo! Sites 42,524 7.9 Hulu 41,564 9.1 CBS Interactive 35,400 5.4 Microsoft Sites 32,194 9.0 Viacom Digital 27,168 10.2 AOL LLC 22,349 4.7 Turner Network 19,644 8.5 Disney Online 12,965 9.7 *Rankings based on video content sites; excludes video server networks. Online video includes both streaming and progressive download video. Other notable findings from March 2009 include: -- 77.8 percent of the total U.S. Internet audience viewed online video. -- The average online video viewer watched 327 minutes of video, or nearly 5.5 hours. -- 99.7 million viewers watched 5.9 billion videos on YouTube.com (59.1 videos per viewer). -- 47.4 million viewers watched 349 million videos on MySpace.com (7.4 videos per viewer). -- Hulu accounted for 2.6 percent of videos viewed, but 4.9 percent of all minutes spent watching online video. -- The duration of the average online video was 3.4 minutes. About comScore

comScore, Inc. is a global leader in measuring the digital world and preferred source of digital marketing intelligence. For more information, please visit http://www.comscore.com/companyinfo.

Follow us on Twitter http://twitter.com/comScore http://twitter.com/gfulgoni http://twitter.com/m_abraham

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AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com comScore, Inc.

CONTACT: Andrew Lipsman of comScore, Inc., +1-312-775-6510,
press@comscore.com

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

Verizon Wins the First 'Outstanding Multifamily Partner Award,' at Broadband Properties Annual SummitProperty Owners, Developers, and Managers Chose Verizon as the 'Outstanding' Vendor in Providing Service and Value to Their Communities

IRVING, Texas, April 28 /PRNewswire/ -- Verizon Enhanced Communities, the Verizon business unit that markets and sells communications and entertainment services to single-family homes, multiple-family communities, and small and medium commercial sites, received on Tuesday (April 28) the first Outstanding Multifamily Partner Award.

The new award, presented at the Broadband Properties Annual Summit here, was created by a committee of multifamily property owners, developers and managers to honor an outstanding business partner. Verizon and the other candidates for the award had to provide documented evidence that they added value to the property owners' business or communities, or both.

Since 2005, Verizon Enhanced Communities has worked with multifamily owners to deploy the company's all-fiber-optic network and FiOS services to their communities.

Chris Acker, director, building technology services group, Forest City Enterprises Inc., and one of the co-chairs of the multifamily owners committee, said, "Verizon has proven to be an outstanding vendor by how it has conducted business with the multifamily community over the years. Verizon listened to owner concerns, developing and customizing its deployment of FiOS to work specifically for the multifamily community."

Scott DeGarmo, CEO of Broadband Properties, said, "Broadband Properties is honored that our Summit provided the venue for this distinctive award. It has exceptional credibility because of the way the winners are chosen."

Eric Cevis, vice president of Verizon Enhanced Communities, said, "Verizon's FiOS initiative has grown tremendously since we began to deploy our all-fiber-optic network into multifamily and multitenant properties. We are thankful for the communities' energy in wanting to work with us to upgrade their IT infrastructure and bring their residents and tenants the latest cutting-edge technology."

A recent study conducted by Parks Associates found that respondents in general would be willing to pay $20 more per month to have access to fiber-optic services in a multifamily dwelling.

Since the onset of Verizon's program to bring FiOS services to multiple-family communities, the company has constantly reduced the time it takes to deploy the services and minimized the disruption to residents.

For example, Verizon has reduced the size of the optical network terminal (ONT), which connects the company's fiber-optic network to a customer's house or apartment. In addition, the company has introduced fiber-optic cable that can be bent without affecting its transmission capabilities, enabling Verizon to wire a building much more efficiently and cost-effectively. To hide the fiber-optic cables, Verizon offers a wide selection of moldings, which can also greatly enhance the interior of a building.

In 2006, Verizon won Broadband Properties magazine's Cornerstone Award, for deploying the company's all-fiber-optic network and FiOS services at a new 300-unit, eight-building residential community in Dedham, Mass., in just 14 days.

Verizon has deployed FiOS services in developments owned by many of the largest real estate companies in the country, including Aimco, Archstone, JPI, Southern Management, Tishman Speyer and Trump. Verizon has also secured deals with smaller, regional builders and with the owners of low- and moderate-cost properties.

Verizon is the only national network to deliver 100 percent fiber optics straight to customers' homes and businesses. Verizon's award-winning FiOS Internet service offers the fastest connection download speeds at up to 50 Mbps* (megabits per second) and symmetrical speeds at up to 20 Mbps. Verizon FiOS TV offers the purest HD (high definition) signal available for amazing picture quality, plus razor-sharp 100 percent digital quality on all its more than 500 channels.

Property owners and developers interested in bringing Verizon's FiOS services to their property can visit http://www.verizon.com/communities or call 866-MDU-6066 (866-638-6066) for more information.

* NOTE: actual (throughput) speeds will vary.

Verizon Communications Inc. , headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 86 million customers nationwide. Verizon's Wireline operations provide converged communications, information and entertainment services over the nation's most advanced fiber-optic network. Wireline also includes Verizon Business, which delivers innovative and seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of more than 237,000 and last year generated consolidated operating revenues of more than $97 billion. For more information, visit http://www.verizon.com/.

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

Verizon

CONTACT: Bill Kula, APR, +1-972-718-6924, william.kula@verizon.com;
Ellen Yu, Verizon, +1-908-559-3496, ellen.yu@verizon.com

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

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

Communications & Power Industries Awarded $3 Million From DataPath to Support Upgrade to U.S. Army WIN-T Military Communications Program

PALO ALTO, Calif., April 28 /PRNewswire-FirstCall/ -- Communications & Power Industries, Inc. (CPI) has received an approximately $3 million award from DataPath, Inc., to support an upgrade to existing communications terminals used for the U.S. Army's Warfighter Information Network-Tactical (WIN-T) military satellite communications (satcom) program. With this latest contract, CPI has recently received more than $4 million in total awards from DataPath to support this upgrade project for the larger WIN-T Increment One program. CPI, a subsidiary of CPI International, Inc. , is a leading provider of microwave, radio frequency, power and control solutions for critical defense, communications, medical, scientific and other applications.

(Logo: http://www.newscom.com/cgi-bin/prnh/20060426/CPILOGO)

Under this contract, CPI will supply Ka-band, high-power satellite communications amplifiers to upgrade DataPath's existing Unit Hub SATCOM Truck (UHST) terminals used for the WIN-T program. These terminals were originally configured solely for Ku-band communications. Adding Ka-band communications capabilities will allow the terminals to utilize the recently launched Wideband Global SATCOM (WGS) system; the WGS system increases the high-bandwidth communications capacity available to support U.S. military operations worldwide.

WIN-T Increment One UHST terminals transmit voice, data and imagery via satellite, airborne and terrestrial communications systems, enabling warfighters in the field to access the Department of Defense's main information-sharing network. These terminals also allow warfighters to use advanced network capabilities and keep in step with the next increments of the WIN-T program.

CPI has participated in various iterations of the WIN-T program since fiscal 2006, receiving approximately $40 million in orders, of which approximately $17 million remained in order backlog as of April 3, 2009. CPI expects to receive an additional $10 million to $20 million in orders for the WIN-T program in the next couple of years.

About CPI International, Inc.

CPI International, Inc., headquartered in Palo Alto, California, is the parent company of Communications & Power Industries, Inc., a leading provider of microwave, radio frequency, power and control solutions for critical defense, communications, medical, scientific and other applications. Communications & Power Industries, Inc. develops, manufactures and distributes products used to generate, amplify, transmit and receive high-power/high-frequency microwave and radio frequency signals and/or provide power and control for various applications. End-use applications of these systems include the transmission of radar signals for navigation and location; transmission of deception signals for electronic countermeasures; transmission and amplification of voice, data and video signals for broadcasting, Internet and other types of commercial and military communications; providing power and control for medical diagnostic imaging; and generating microwave energy for radiation therapy in the treatment of cancer and for various industrial and scientific applications.

Certain statements included above constitute "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. Forward-looking statements provide our current expectations, beliefs or forecasts of future events. Forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual events or results to differ materially from the results projected, expected or implied by these forward-looking statements. These factors include, but are not limited to, competition in our end markets; the impact of a general slowdown in the global economy; our significant amount of debt; changes or reductions in the U.S. defense budget; currency fluctuations; U.S. government contracts laws and regulations; changes in technology; the impact of unexpected costs; and inability to obtain raw materials and components. These and other risks are described in more detail in our periodic filings with the Securities and Exchange Commission. As a result of these uncertainties, you should not place undue reliance on these forward-looking statements. All future written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We undertake no duty or obligation to publicly revise any forward-looking statement to reflect circumstances or events occurring after the date hereof or to reflect the occurrence of unanticipated events or changes in our expectations.

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AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com/ CPI International, Inc.

CONTACT: Amanda Mogin, investor relations of Communications & Power
Industries, +1-650-846-3998, amanda.mogin@cpii.com

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

Spike TV's Hot New Series 'Deadliest Warrior' Spawns Online Original Show 'Deadliest Warrior - The Aftermath'Spike.com Greenlights Digital Series After On-Air Premiere Of "Deadliest Warrior" Scored Record Ratings And Garnered Huge Online Traffic"Deadliest Warrior - The Aftermath" Premieres Today On Spike.com

NEW YORK, April 28 /PRNewswire/ -- Spike TV's new hit original series "Deadliest Warrior" reigned supreme with viewers on-air and online and will now be spun off on Spike.com with the launch of the original digital series "Deadliest Warrior - The Aftermath." This new Web show will be an online video round table discussion that will launch on Spike.com following each on-air premiere of the "Deadliest Warrior."

(Logo: http://www.newscom.com/cgi-bin/prnh/20060322/NYW096LOGO )

"'Deadliest Warrior' has captured an enthusiastic and highly engaged audience," said Jon Slusser, SVP, Spike Digital Entertainment. "The series is inspiring widespread debate online and is receiving an unprecedented number of comments on Spike.com. 'Deadliest Warrior - The Aftermath' will harness the enthusiasm of this community and transform their lively debate into a video round table."

"We are thrilled with the on air performance of 'Deadliest Warrior,'" said Sharon Levy, SVP, original series, Spike TV. "And now with its explosion online, we truly have a cross platform success on our hands."

"When Paninee and I created the show, we thought that by using science and technology to evaluate the lethality of each warrior and his weapons, it would end the debate about who truly is the Deadliest Warrior," said Gary Tarpanian, executive producer, "Deadliest Warrior." "Ironically, the opposite has occurred and more people than ever are debating the issue online."

In each episode of the "Deadliest Warrior - The Aftermath," host and "Deadliest Warrior" expert Kieron Elliot will discuss with other experts the unanswered questions and counter arguments submitted by the fans. The show will explore the inevitable controversies stirred up by these epic match-ups between warriors with fervent and knowledgeable fan cultures. The conclusion of each episode will feature a sneak peek of next week's episode on Spike TV and allow the "The Aftermath" panel to make their predictions on the next battle.

The April 7 premiere telecast of "Deadliest Warrior" scored the highest ratings among Men 18-34 and 18-49 for a one-hour cable premiere this year and the online traffic soared. Through three original telecasts, "Deadliest Warrior" has averaged 1.7 million viewers, making it the most-watched original series on the network. For the last three consecutive weeks, the show is the number one Spike TV show on Spike.com and its video content has had over 660,000 video views since its debut and has posted consecutive double digit growth in weekly audience size. "The Deadliest Warrior" audience is highly engaged with double the video views per visit versus the average for the site as a whole.

"Deadliest Warrior," which airs Tuesday at 10:00 p.m., is an unprecedented, non-scripted series that pits two of the most feared warriors civilization has ever known against each other. To collect all significant data on these legends of combat, "Deadliest Warrior" assembled a fight club that consists of three series regulars: Geoff Desmoulin, a biomedical engineer and karate black belt who uses high-tech sensors to collect the data; ER doctor and UFC physician, Dr. Armand Dorian, who analyzes the lethal potential of each attack on the human body; and computer whiz, Max Geiger, who tracks all the test findings to ultimately run in a battle simulation program. Along with the use of 21st century science and the latest in CGI technology, each episode enlists warrior-specific world-class fighters and experts to provide insight into what makes these combatants tick, analyzing every facet of their unique skills of destruction, culminating in a head-to-head final fight between two legends of the battlefield that will produce the deadliest warrior.

Other highly-anticipated showdowns this season include: Pirate vs. Knight, Taliban vs. IRA, Yakuza vs. Mafia, Viking vs. Samurai, Green Beret vs. Spetznaz, Maori vs. Shaolin Monks, William Wallace vs. Shaka Zulu and Ninja vs. Spartan.

"Deadliest Warrior" is produced for Spike TV by Morningstar Entertainment ("Manhunters: Fugitive Task Force"). The series is executive produced by Gary Tarpanian and Paninee Theeranuntawat. Tim Prokop serves as supervising producer and director. Sharon Levy, SVP, original series, Spike TV and Tim Duffy, VP, original programming, are the executives in charge of creative for Spike TV.

Spike TV is available in 97.7 million homes and is a division of MTV Networks. A unit of Viacom , MTV Networks is one of the world's leading creators of programming and content across all media platforms. Spike TV's Internet address is http://www.spike.com/ and for up-to-the-minute and archival press information and photographs, visit Spike TV's press site at http://www.spike.com/press.

Photo: http://www.newscom.com/cgi-bin/prnh/20060322/NYW096LOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Spike TV

CONTACT: Aileen Budow of Spike TV, +1-212-767-3952,
aileen.budow@spiketv.com

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

Markel's DataBreach(SM) Insurance Coverage Enhanced by FishNet Security Partnership

RICHMOND, Va., April 28 /PRNewswire/ -- Markel Corporation, through its subsidiaries, announced it has partnered with FishNet Security to bring greater enhancement to its DataBreach(SM) insurance coverage. DataBreach(SM) provides coverage to businesses for liabilities arising out of a breach of its duty to protect confidential information, which reside on a website, network, the hard drive of a laptop, or paper files.

FishNet Security is the number one provider of information security solutions that combine technology, services, support and training. FishNet Security solutions have enabled its clients to better manage risk, meet compliance requirements and reduce costs while maximizing security effectiveness and operational efficiency.

Michael Carr, product manager for Markel's DataBreach(SM) coverage, said, "The combination of FishNet Security's services and Markel's very comprehensive DataBreach(SM) liability coverage offers businesses a powerful risk management tool to help respond to data theft."

Concurring, Aaron Shilts, FishNet Security's vice president of professional services, said, "We are very excited to partner with an organization like Markel, and to be a part of providing world class data forensics and incident response services to their client base."

DataBreach(SM) is available through Markel's five regional offices: Markel Midwest, Markel Mid-South, Markel Northeast, Markel Southeast and Markel West.

Markel Corporation markets and underwrites specialty insurance products and programs for a variety of niche markets. In each of these markets, the Company seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the Company are to earn consistent underwriting profits and superior investment returns to build shareholder value. Visit Markel Corporation on the web at http://www.markelcorp.com/

For more information contact: Letha E. Heaton 847.572.6250 heaton@markelcorp.com Gail A. Strejc 847.572.6252 strejc@markelcorp.com Miriam Balavender 847.572.6286 mbalavender@markelcorp.com

Markel Corporation

CONTACT: Letha E. Heaton, +1-847-572-6250, heaton@markelcorp.com, or
Gail A. Strejc, +1-847-572-6252, strejc@markelcorp.com, or Miriam Balavender,
+1-847-572-6286, mbalavender@markelcorp.com, all of Markel Corporation

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

California Micro Devices présente des solutions électroniques d'affichage à l'occasion de la conférence IDMC/3DSA/Asia Display '09 de Taipei

TAIPEI, Taiwan, April 28 /PRNewswire/ --

- Les contrôleurs d'affichage série haute vitesse MDDI, en pont et MIPI(R) seront mis en avant

California Micro Devices (Nasdaq : CAMD) présentera ses solutions de contrôleurs d'affichage basées sur les normes d'interfaces pour affichage série haute vitesse Mobile Digital Display Interface (MDDI) et Mobile Industry Processor Interface (MIPI(R)) destinées aux applications de combinés mobiles et d'appareils Internet mobiles lors de la conférence International Display Manufacturing Conference/3D Systems and Applications/Asia Display 2009 (IDMC/3DSA/Asia Display '09), qui se tiendra du 28 au 30 avril. Allen Tung, gestionnaire des applications de contrôleurs d'affichage pour CMD, donnera deux présentations les 29 et 30 avril.

Contrôleur d'affichage MDDI pour interfaces série haute vitesse

CMD présentera un portefeuille de contrôleurs d'affichage à interface série conçus pour les normes d'interfaces d'affichage MIPI(R) et MDDI. Le CM5100 comporte un client série entièrement compatible MDDI, un contrôleur d'affichage intégré doté d'une mémoire intégrée qui prend en charge les affichages à cristaux liquides (LCD) à transistors primaires en couches minces (TFT) avec des résolutions pouvant atteindre QVGA (320 x 240), ainsi que des affichages secondaires.

Le contrôleur d'affichage en pont CM5160

Ce contrôleur d'affichage innovant peut être exploité à la fois avec les normes pour interfaces d'affichage série haute vitesse Mobile Display Digital Interface (MDDI) et Mobile Industry Processor Interface (MIPI(R)) destinées aux combinés mobiles sophistiqués. Mis au point en collaboration avec d'importants fabricants de combinés et de dispositifs, le CM5160 permettra l'interface entre les combinés mobiles utilisant des unités centrales et des processeurs d'application avec des hôtes sur puce compatibles avec la norme MDDI avec les modules d'affichage à cristaux liquides (LCD) intégrant des clients basés sur les normes MDDI ou MIPI(TM). Le CM5160 peut également être utilisé en tant que client d'affichage MDDI prenant en charge les modules LCD avec des résolutions pouvant aller jusqu'à 24 bits par pixel (WQVGA).

Applications MIPI

CMD présentera également une mise en oeuvre sur plate-forme de sa nouvelle architecture client MIPI(R). Cette nouvelle architecture novatrice de contrôleur d'affichage pour interfaces série utilise une interface à mode vidéo type 4 MIPI sans mémoire vive et peut prendre en charge des applications de modules d'affichage MIPI(R) dont la résolution peut atteindre WXGA. Les nouveaux contrôleurs d'affichage de CMD seront utilisés dans les combinés mobiles sophistiqués ainsi que dans les appareils Internet mobiles (MID) Intel de nouvelle génération.

À propos de la California Micro Devices Corporation

La California Micro Devices Corporation est l'un des plus grands fournisseurs de semi-conducteurs analogiques et à signaux mixtes à applications spécifiques destinées aux marchés des combinés mobiles, des produits de consommation électroniques numériques et des ordinateurs personnels. Parmi ses produits clés, on compte des dispositifs de protection pour les combinés mobiles, des produits de consommation électroniques numériques tels que les télévisions numériques et les ordinateurs personnels, ainsi que des circuits intégrés à signal analogique et mixte pour les écrans de combinés mobiles. Pour en savoir plus sur la société et ses produits, veuillez consulter le http://www.cmd.com.

Le logo CMD est une marque de commerce de la California Micro Devices Corporation. Toutes les autres marques de commerce appartiennent à leurs propriétaires respectifs.

California Micro Devices

Kyle Baker de California Micro Devices, +1-408-934-3117, kyleb@cmd.com ; IDMC/3DSA/Asia Display '09, Taipei International Convention Center, Taiwan, salle 203, stand CMD # 2

Motorola Honors North American and Latin American Channel Partners with Enterprise Mobility Solutions Awards

HOLTSVILLE, N.Y., April 28 /PRNewswire-FirstCall/ -- Motorola, Inc. today announced the winners of its annual Enterprise Mobility Solutions Awards, presented at the Company's North American and Latin American (NALA) Enterprise Mobility Partner Conference. North American and Latin American channel partners received the awards for the most innovative enterprise mobility solutions that help customers accelerate growth, productivity and operational efficiencies.

"Motorola and its partners share a common goal of empowering the individual and transforming the enterprise," said Janet Schijns, vice president of Global Channels, Motorola Enterprise Mobility Solutions. "The Motorola Enterprise Mobility Solutions Awards recognize the channel partners that have developed the most successful, forward-thinking mobile and wireless solutions that help customers increase productivity, streamline business operations, and provide a competitive advantage. This year's competition offered an extremely strong pool of innovative solutions from our partners across the region and we appreciate the commitment and support of all of our partners in advancing the next wave of enterprise mobility."

Lowry Computer Products was awarded the 2008 NALA Enterprise Mobility Solutions Award for the implementation of the first state-level food traceability system in the United States with the State of Hawaii Department of Agriculture and the Hawaii Farm Bureau. In recent years, consumer safety and confidence have been shaken by pathogen-based outbreaks within the food chain that have led to recalls, illnesses and in some cases, deaths. The State of Hawaii initiated an RFID-based track-and-trace program that will display real-time produce movement and enable growers to monitor the complete harvest to market process. Lowry Computer Products devised and deployed a fail-safe system that utilized Motorola MC9090-G RFID handheld mobile computers and XR440 fixed RFID readers to identify and pull contaminated products before reaching the consumer. The program is expected to increase food safety response and mitigate losses associated with crop disease, food recalls and other food safety issues.

Spring Wireless and Deloitte were named recipients of the NALA Partner Ecosystem Award for the most innovative enterprise mobility solution developed collaboratively by two or more partners. Spring Wireless and Deloitte were honored for their implementation of a mobile field sales, field services and distribution solution utilizing Motorola MC70 mobile computers at Anheuser-Busch InBev in Brazil and Belgium. The Spring Wireless-Deloitte enterprise mobility solution has helped improve cash flow, increase direct store delivery (DSD) productivity, and reduce data entry errors and administrative paperwork. The real-time automated data capture functionality dramatically increased the productivity of Anheuser-Busch InBev's DSD function and provided a return on their investment in only six months. By eliminating manual paperwork processes, driver productivity increased 10 percent enabling each driver to make a minimum of one additional stop per day. Since drivers frequently sell additional products beyond the order at delivery time, the additional stop provided a nine percent increase in actual sales. In addition, now that the bar codes of delivered product are scanned and the lot numbers are captured, Anheuser-Busch Inbev is prepared for quick and easy traceability of the product right to the customer in the event of a recall.

About Motorola

Motorola is known around the world for innovation in communications and is focused on advancing the way the world connects. From broadband communications infrastructure, enterprise mobility and public safety solutions to high-definition video and mobile devices, Motorola is leading the next wave of innovations that enable people, enterprises and governments to be more connected and more mobile. Motorola had sales of US $30.1 billion in 2008. For more information, please visit http://www.motorola.com/.

MOTOROLA and the stylized M Logo are registered in the US Patent & Trademark Office. All other product or service names are the property of their respective owners. (C) Motorola, Inc. 2009. All rights reserved.

Photo: http://www.newscom.com/cgi-bin/prnh/20020415/MOTNOTAGLOGO
http://www.newscom.com/cgi-bin/prnh/20020307/MOTLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Motorola, Inc.

CONTACT: Bill Abelson of Motorola Enterprise Mobility Solutions,
+1-631-738-4751, bill.abelson@motorola.com

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

EF Johnson Technologies, Inc. Announces First Quarter Financial Reporting Date of March 31, 2009Investor Webcast and Conference Call Scheduled for May 6, 2009

IRVING, Texas, April 28 /PRNewswire-FirstCall/ -- EF Johnson Technologies, Inc. announced today that the Company will release the financial results for the quarter ending March 31, 2009, and has scheduled an investor webcast and conference call for 9:00 a.m. Eastern Time on Wednesday, May 6, 2009. Michael Jalbert, chairman and chief executive officer, and Jana Bell, executive vice president and chief financial officer, will host the call and will discuss EF Johnson Technologies, Inc.'s financial results as well as other recent Company developments.

The investor conference call will be available via live webcast on the EF Johnson Technologies, Inc. website at http://www.efjohnsontechnologies.com/ under the tab "Investor Relations." Investors are advised to go to the website at least 15 minutes prior to the call to register, download and install any necessary audio software. The webcast will be archived for 30 days.

To participate by telephone, the domestic dial-in number is (877) 407-8031 and the international dial-in number is (201) 689-8031. Participants are urged to call in to the conference call at least 10 minutes prior to the start time.

About EF Johnson Technologies, Inc.

Headquartered in Irving, Texas, EF Johnson Technologies, Inc. focuses on innovating, developing and marketing the highest quality secure communications solutions to organizations whose mission is to protect and save lives. The Company's customers include first responders in public safety and public service, the federal government, and industrial organizations. The Company's products are marketed under the EFJohnson, 3e Technologies International, and Transcrypt International names. For more information, visit http://www.efjohnsontechnologies.com/.

Safe Harbor

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward-looking statements due to a number of risk factors including, but not limited to, the level of demand for the company's products and services, reliance on contract manufacturers, the timely procurement of necessary manufacturing components, software feature development and the implementation of application software, successful integration of the system components, dependence on continued funding of governmental agency programs, general economic and business conditions, and other risks detailed in the company's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the period ended December 31, 2008 and in the company's subsequent filings with the SEC. These forward-looking statements are made as of the date of this press release and the company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.

EF Johnson Technologies, Inc.

CONTACT: Investor Relations, Jana Ahlfinger Bell, +1-972-819-0700,
jbell@efji.com, or Media, Kevin Nolan, +1-972-819-0710, knolan@efji.com, both
of EF Johnson Technologies, Inc.

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

Tricon Puts IBM Systems to Work off Coast of South America in Search for Natural GasNew system analyzes 25 times more data as it cuts costs

ARMONK, N.Y. and CARACAS, Venezuela, April 28 /PRNewswire-FirstCall/ -- IBM and Tricon Geophysics, Venezuela's leading provider of seismic data processing and interpretation services for oil and gas companies, have collaborated to build a data center powered by IBM System x(TM) iDataPlex(TM) that will enable Tricon to analyze 25 times more seismic data than is currently possible with existing systems. The new data center gives Tricon the ability to explore larger oil and gas fields -- up to 1,000 square miles -- while cutting power and cooling costs for the company.

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

Tricon is currently exploring for natural gas reserves in a 3,000-square-mile region under a shallow inland sea between the island of Trinidad and the east coast of Venezuela.

"Tricon's new computing capabilities offer us a truly dynamic infrastructure," said Bernardo Briones, general manager, LA Sales, Tricon. "To analyze 25 times more data from a vast geographical region with more efficiency gives Tricon a unique advantage. We can manage, store and process large amounts of seismic data, while reducing inefficiencies of energy and server utilization and doubling the computing power available."

Tricon worked with IBM Global Technology Services and IBM Business Partner Strix Technologies, S.A., to implement and support its new infrastructure, which runs the Red Hat Linux V5 operating system.

iDataPlex more than doubles the number of systems that can run in a single IBM rack and uses 40 percent less power, while increasing the amount of computing that can be done. iDataPlex can be outfitted with a liquid cooled wall on the back of the system that enables it to run at "room temperature" -- no air conditioning required. The system uses all industry-standard components as well as open-source software such as Linux to help lower costs.

"Our digitally connected world requires systems that will enable organizations to reduce costs, manage risk and improve service," said Miguel Vega, Sales, Servers and Storage director, IBM Venezuela. "The system implemented by IBM and Tricon offers the energy industry a cutting-edge process for efficient use of seismic data."

IBM is considered a leading partner for oil and gas companies globally, providing intelligent systems that improve their productivity through smarter exploration, production and reservoir management, and help better manage risks to people and the environment.

About IBM

For more information on iDataPlex and to learn how IBM is building dynamic infrastructures for clients around the globe, visit http://www.ibm.com/.

About Tricon Geophysics

For more information about Tricon Geophysics, please visit: http://www.tricongeophysics.com/.

Contact Information: Jason Stolarczyk IBM Media Relations +1 206-949-7776 jrstolar@us.ibm.com

Photo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO IBM

CONTACT: Jason Stolarczyk of IBM Media Relations, +1-206-949-7776,
jrstolar@us.ibm.com

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

Decision Dynamics Awarded 2 New Contracts Valued at 1.4 Million Dollars

CALGARY, April 28 /PRNewswire-FirstCall/ -- Decision Dynamics Technology Ltd. (TSX-V:DDY) announced today that they have been awarded two contracts expected to generate in excess of 1.4 Million Dollars for Decision Dynamics over the life of the contracts. The contracts provide for the supply of project cost control management software solutions to two major companies in the Electrical Power supply sector. The company further closed a service contract for cost control management in the plant maintenance and turnaround market space.

Oncore(TM) tracks labor, equipment, materials and other costs for capital and operations projects by line item, provides robust analytics for complex calculations such as comparative contractor performance, and makes all information available in a central repository. The application provides real-time visibility into project status, reduces invoice disputes, helps prevent overcharges, flags cost or progress problems to allow timely corrective action, eliminates lengthy reconciliation of contractor invoices and timesheets to contract terms, and helps reduce post-project audit costs.

"By incorporating Decision Dynamics' tools into their everyday workflow, our clients obtain accurate, real-time, auditable views into their business operations." says Justin Zinke, CEO and President, "This enhanced operational and performance visibility provides improved decision making and accelerated response to problems or opportunities, all of which drive decreased project costs and increased profitability." About Decision Dynamics Technology Ltd.

Decision Dynamics is a premier supplier of project controls and real time operations reporting software designed to provide better project visibility by unifying the project data and knowledge needed to make better faster project management decisions.

Our flagship product, Oncore, provides real time cost information, contract validation, and approvals for operations management and capital projects. We focus on the superior management of the labor, equipment, materials, and expense data and metrics for business operations and capital projects. Our customers are E&C and operating companies that perform projects in the normal course of business.

Decision Dynamics is a Microsoft Gold Certified Partner. It operates a wholly-owned foreign subsidiary in the United States, and has offices in Edmonton, Alberta, with its headquarters in Calgary, Alberta.

------------------------------------------------------------------------- Decision Dynamics trades on the TSX Venture Exchange under the symbol "DDY". For more information visit http://www.ddytech.com/. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. ------------------------------------------------------------------------- Forward-Looking Statements

Certain statements contained in this release constitute forward-looking statements or information. These statements relate to future events or Decision Dynamics' future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking statements or information and are based on Decision Dynamics' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Decision Dynamics' annual report to shareholders and other documents filed with securities regulatory authorities (accessible through the SEDAR website http://www.sedar.com/) describe the risks, uncertainties and other factors, such as changes in business plans and potential delays or changes in plans with respect to development projects or capital expenditures, that could influence actual results. Except as may be expressly required by applicable securities laws, Decision Dynamics disclaims any intention or obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

Decision Dynamics Technology Ltd.

CONTACT: Justin Zinke, Chief Executive Officer, Decision Dynamics
Technology Ltd., (403) 451-0731

Virginia Attorney General Recognizes Innovative Domestic Violence Prevention ProgramsFirst Round of Grants Awarded From Verizon Wireless HopeLine Program's $10,000 Donation

LAUREL, Md., April 28 /PRNewswire-USNewswire/ -- Timed to coincide with National Crime Victims' Week (April 26 - May 2), Virginia Attorney General Bill Mims is joining forces with the Verizon Wireless HopeLine(R) program to recognize nonprofit groups across the state seeking innovative solutions to combat domestic violence.

At a ceremony today, Verizon Wireless Regional President Mike Maiorana presented checks for $1,000 each to four Virginia community groups working to address domestic violence -- an issue that devastates many families. The four groups, which were selected for recognition as part of the Attorney General's "Safe in Our Communities" program are:

-- Fairfax County's Women's Group of Mount Vernon, Inc. -- Loudoun County's Abused Women's Shelter -- YWCA of Richmond -- and Tazewell County's Clinch Valley Community Action.

In October, during Domestic Violence Awareness Month, the Attorney General's Office, with the help of the statewide Virginia Sexual and Domestic Violence Action Alliance, encouraged Virginia community groups to apply for official recognition of their innovative domestic violence prevention programs. Applications were reviewed by a team of stakeholders across the state, including law enforcement agencies, business groups and statewide government officials.

The four groups being recognized today are the first to be acknowledged by the Attorney General's new program. Applications for a second round of awards will be available on the Attorney General's web site, http://www.vaag.com/, beginning May 1, 2009. Since Verizon Wireless provided a total of $10,000 in grant funds, additional nonprofits chosen for recognition will share the remaining $6,000.

"I am pleased with the response we have received from Virginia communities to this Program," Attorney General Mims said. "Communities that take a stand against domestic violence should be recognized. We look forward to sharing the successful efforts of the selected communities with law enforcement agencies, government officials, victim services providers, and others in the private and public sectors across the Commonwealth."

Verizon Wireless regional president Mike Maiorana added, "Domestic violence is, sadly, a part of every community. I'm inspired by the work of the grant winners being recognized today and happy to partner with Attorney General Mims, as well as the Virginia Sexual and Domestic Violence Action Alliance, to recognize them for doing such an important job in our community."

The $10,000 Verizon Wireless grant is made possible by the company's HopeLine program, which collects no longer used wireless handsets (all models, from all wireless carriers) and accessories to be refurbished, recycled and/or sold. Proceeds benefit victims of domestic violence through grants and the donation of wireless phones and service. Since HopeLine's recycling program was launched nationwide in 2001, Verizon Wireless has collected more than 5.6 million phones, awarded more than $6.3 million in cash grants to domestic violence agencies and organizations and distributed more than 76,000 phones with more than 228 million minutes of free wireless service to be used by victims of domestic violence.

The success of the HopeLine program is fueled by people like Richmond Police Sergeant Carol Adams, who has donated approximately 8,000 phones to the HopeLine program over the years. She travels far and wide to retrieve donated phones, all the while inspired by the memory of her mother, Orine, who died in 1980 in a domestic violence incident.

For more information on Verizon Wireless' HopeLine program or for instructions on donating a wireless phone, visit http://www.verizonwireless.com/hopeline.

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: Sherri Cunningham of Verizon Wireless, +1-202 364-5856

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

Bronstein, Gewirtz & Grossman, LLC Announces Lead Plaintiff Deadline for Insight Enterprises, Inc. is May 26, 2009

NEW YORK, April 28 /PRNewswire/ -- Bronstein, Gewirtz and Grossman, LLC announces that a class action lawsuit has been filed in the United States District Court for the District of Arizona on behalf of those who purchased or otherwise acquired the securities of Insight Enterprises, Inc. ("Insight Enterprises" or the "Company") during the period from January 30, 2007 through and including February 6, 2009 (the "Class Period").

The Complaint charges Insight Enterprises and certain of the Company's current and former executive officers with violations of federal securities laws. On February 9, 2009, Insight Enterprises shocked the market when it revealed that the Company's management and Audit Committee had determined that Insight Enterprises would have to restate previously reported earnings as a result of it historical accounting treatment of aged trade credits. Insight announced that it expected to restate financial statement included in the Company's most recently filed form 10-k for the year ended December 31, 2007, form 10-Q for the first three quarters of fiscal year 2008, and incur a charge to retained earnings of $50 to $70 million. On this news, shares of the Company declined $2.85 per share, more than 48% to close on February 9, 2009 at $3.05 per share, on unusually heavy call volume.

No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. May 26, 2009 is the deadline for investors to seek a lead plaintiff appointment.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate work, private securities offerings, and securities arbitration.

Bronstein, Gewirtz & Grossman, LLC

CONTACT: Peretz Bronstein, or Eitan Kimelman, eitan@bgandg.com, both of
Bronstein, Gewirtz & Grossman, LLC, +1-212-697-6484

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

Gameloft Secures Mobile Gaming Rights to the Upcoming Sherlock Holmes Film

NEW YORK, April 28 /PRNewswire-FirstCall/ -- Gameloft(R), a leading publisher and developer of digitally distributed video games, announced today a worldwide licensing agreement with Warner Bros. Digital Distribution to develop, publish and distribute the mobile game for the highly anticipated Warner Bros. Pictures' and Village Roadshow Pictures' film Sherlock Holmes directed by Guy Ritchie and starring Robert Downey, Jr. The game is scheduled for release prior to the U.S. theatrical release on Christmas Day 2009.

A dynamic new portrayal of Sir Arthur Conan Doyle's most famous character, "Sherlock Holmes" sends Holmes (Robert Downey Jr.) and his trusted colleague Watson (Jude Law) on their latest challenge. Revealing fighting skills as lethal as his legendary intellect, Holmes will battle as never before to bring down a new nemesis and unravel a deadly plot that could destroy England.

"Sherlock Holmes is a household name spanning multiple countries and languages. To have this story updated as a modern action film by such premier talent will make the story of Sherlock Holmes more relevant than ever," said Gonzague de Vallois, senior vice president of Worldwide Publishing, Gameloft. "We are confident our powerhouse development team will capture the spirit of the film for fans and gamers alike."

Gameloft will develop the Sherlock Holmes storyline into a mobile game and distribute it through the company's wide network of carriers, partners and its online store in over 80 countries.

For the latest information be sure to visit Gameloft's Twitter feed at https://twitter.com/gameloft or http://www.gameloft.com/

Inspired by the classic tales of Sir Arthur Conan Doyle, the action adventure mystery is being produced by Joel Silver, Lionel Wigram, Susan Downey and Dan Lin and co-produced by Steve Clark-Hall. Michael Tadross and Bruce Berman are serving as executive producers. The screenplay is by Michael Johnson, Anthony Peckham and Guy Ritchie, based on a story by Lionel Wigram. The film also stars Rachel McAdams, Mark Strong and Kelly Reilly. "Sherlock Holmes" will be distributed worldwide by Warner Bros. Pictures, a Warner Bros. Entertainment Company, and in select territories by Village Roadshow Pictures.

Gameloft is a leading international publisher and developer of digitally distributed video games. Established in 1999, it has emerged as one of the top innovators in its field. The company creates games for mobile handsets equipped with Java, Brew or Symbian technology. The total number of games-enabled handsets is anticipated to exceed four billion units by 2012. Gameloft games are also available to players on WiiWare and DS, Microsoft's Xbox LIVE Arcade, Apple's iPod, iTouch and iPhones, and PCs.

Partnership agreements with leading licensors and sports personalities such as Ubisoft Entertainment, Universal Pictures, ABC, Dreamworks Animations SKG, Endemol, 20th Century Fox, Viacom, Sony Pictures, Touchtone Television, Warner Bros., FifPro, Ferrari, Paris Hilton, Gus Hansen, Kobe Bryant, Derek Jeter, Reggie Bush, Chuck Norris, Jonny Wilkinson or Robinho allow Gameloft to form strong relationships with international brands. In addition to the partnerships, Gameloft owns and operates titles such as Block Breaker Deluxe, Asphalt: Urban GT and New York Nights.

Through agreements with major telephone wireless carriers, handset manufacturers, specialized distributors and its online shop, Gameloft has a distribution network in over 80 plus countries.

Gameloft has worldwide offices in New York, San Francisco, Seattle, Montreal, Mexico, Buenos Aires, Bogota, Sao Paulo, Santiago Paris, London, Cologne, Milan, Madrid, Lisbon, Copenhagen, Warsaw, Helsinki, Vienna, Bucharest, New Delhi, Seoul, Kuala Lumpur, Jakarta, Beijing, Hong Kong, Singapore, Tokyo and Sydney. Gameloft is listed on Euronext Paris (ISIN: FR0000079600, Bloomberg: GFT FP, Reuters: GLFT.PA)

CONTACT: Sanette Chao - Director, Public Relations- Sanette.chao@gameloft.com +1-212-994-2497 http://www.gameloft.com/ http://www.twitter.com/gameloft

Gameloft

CONTACT: CONTACT: Sanette Chao - Director, Public Relations-
Sanette.chao@gameloft.com, +1-212-994-2497

Gameloft: Sales up by 22% in the First Quarter of 2009

PARIS, April 28 /PRNewswire-FirstCall/ -- Gameloft achieved consolidated sales of EUR30.8 million for the first quarter of 2009, up by 22% from the previous year. On a comparable exchange rate basis, growth over the same period reached 18%.

In EUR millions 2009 financial 2008 financial Variation year year 1st quarter 30.8 25.3 +22%

Mobile games accounted for 94% of the company's annual sales and console games covered the remaining 6%.

Europe accounted for 35% of sales for the first quarter, North America 37%, and 29% for the rest of the world. The strongest growth took place in North America, up 57% over the period.

Mobile games performed particularly well over the first quarter of 2009. Mobile game sales increased by 21% over the first quarter, due in part to the strong performance of Gameloft games on Apple's iPhone, but also to solid sales performance of games for Java and Brew phones.

The company's core business continues to do quite well despite the worldwide economic slowdown:

- Gameloft benefits most from the innovations introduced by traditional handset manufacturers such as Nokia and Samsung as well as from dynamic new players in the market such as Apple and Google - Gameloft continues to gain substantial market share in Smartphones and traditional Java and Brew phones - Gameloft is one of the very few players in the market that has the resources and know-how that allow it to be present systematically at the launch of all the new consoles with downloading platforms (PlayStation Network, Nintendo DSiWare, Nintendo WiiWare, etc.).

Gameloft is therefore expecting to grow its revenues and to improve its profitability in 2009.

Sales for the second quarter of 2009 will be published on Tuesday 28 July 2009 after the closing.

Disclaimer

This press release may contain estimated financial data, information on future operations and projects, and on future economic performance. These projected items are provided on the basis of a forecast. They are subject to market risks and uncertainties and can vary substantially with the actual results that will be published. Estimated financial data was presented at the Board of Directors and has not been reviewed by the Auditors. (Additional information is provided in Gameloft's latest Reference Document, filed on June 6, 2008 with the Autorite des marches financiers [French Financial Services Authority]).

About Gameloft

Gameloft develops and publishes video games for mobile telephones and consoles worldwide. Gameloft was founded in 1999 and is now positioned as one of the most innovating companies in its field. Gameloft designs games for telephones incorporating the Java, Brew and Symbian technologies, for which the number of units should exceed four billion in 2012. Gameloft games are also available on WiiWare, DS, Microsoft Xbox LIVE Arcade, iPod and PCs.

Partnership agreements with major rights holders such as Ubisoft Entertainment, Universal Pictures, ABC, Touchtone Television, Dreamworks Animations SKG, Endemol, 20th Century Fox, Viacom, Sony Pictures, Warner Bros., FIFPro, Ferrari, Roland-Garros, Gus Hansen, Kobe Bryant, Derek Jeter, Robinho, Reggie Bush, Chuck Norris, Patrick Vieira, Christophe Dominici and Jonny Wilkinson enable Gameloft to associate its games with very strong international brands. In addition to these brands, Gameloft has its own brands, such as Block Breaker Deluxe, Asphalt: Urban GT and New York Nights.

Thanks to agreements with all of the main telecom operators, telephone manufacturers and specialised distributors, as well as its http://www.gameloft.com/ boutique, Gameloft's games are distributed in 80 countries.

Gameloft has locations in New York, San Francisco, Seattle, Montreal, Mexico, Buenos Aires, Paris, London, Koln, Copenhagen, Milan, Madrid, Lisbon, Vienna, Warsaw, Helsinki, Bucharest, New Delhi, Kuala Lumpur, Peking, Tokyo, Hong Kong, Seoul, Singapore and Sydney. Gameloft is listed in Compartment B of the Paris Stock Exchange (ISIN: FR0000079600, Bloomberg: GFT FP, Reuters: GLFT.PA).

Follow the Twitter feeds http://twitter.com/gameloft and http://twitter.com/gameloft_IR

Contact: Anne-Laure Descleves Head of Communications Tel +331-5816-2082 anne-laure.descleves@gameloft.com For more information, consult http://www.gameloft.com/

Gameloft

CONTACT: Contact: Anne-Laure Descleves, Head of Communications, Tel
+331-5816-2082, anne-laure.descleves@gameloft.com

Gameloft: Croissance de 22% du chiffre d'affaires sur le premier trimestre 2009

PARIS, April 28 /PRNewswire/ -- Le chiffre d'affaires consolidé du premier trimestre 2009 est en hausse de 22% et s'établit à 30,8 mEUR. A taux de change constant la croissance du chiffre d'affaires des trois premiers mois de l'exercice atteint 18%.

En m EUR Exercice 2009 Exercice 2008 Variation 1er trimestre 30,8 25,3 +22%

L'activité jeux mobiles a représenté 94% du chiffre d'affaires annuel de la société et l'activité jeux consoles les 6% restant.

Le chiffre d'affaires du premier trimestre de l'exercice a été réalisé pour 35% en Europe, 37% en Amérique du Nord et 29% dans le reste du monde. La plus forte progression des ventes a été enregistrée en Amérique du Nord avec une croissance de 57% du chiffre d'affaires dans cette région pendant la période.

L'activité jeux mobiles s'est particulièrement bien tenue lors du premier trimestre de l'exercice 2009. Les revenus mobiles ont ainsi progressé de 21% pendant les trois premiers mois de l'année grâce une fois encore au succès rencontré par les jeux Gameloft sur l'iPhone d'Apple mais aussi à la bonne tenue des ventes de la société sur les téléphones Java et Brew.

Le coeur d'activité de la société continue donc pour le moment de résister au ralentissement économique global :

- Gameloft est probablement l'acteur qui bénéficie le plus des innovations apportées par les constructeurs de téléphones historiques tels que Nokia ou Samsung et de l'entrée sur le marché de nouveaux acteurs dynamiques tels qu'Apple et Google

- Gameloft continue de gagner des parts de marché significatives sur les Smartphones et les téléphones classiques Java et Brew - Gameloft est l'un des très rares acteurs du marché ayant les ressources et le savoir faire lui permettant d'être systématiquement présent au lancement de toutes les nouvelles consoles ouvertes au téléchargement (PlayStation Network, Nintendo DSiWare, Nintendo WiiWare, etc.).

La société anticipe donc un exercice 2009 en croissance tant pour le chiffre d'affaires que pour la rentabilité.

Le chiffre d'affaires du second trimestre sera publié le mardi 28 juillet 2009 après la clôture.

Disclaimer

Ce communiqué peut contenir des données financières estimées, des informations sur des projets et opérations futurs, de futures performances économiques. Ces éléments de projection sont donnés à titre prévisionnel. Ils sont soumis aux risques et incertitudes des marchés et peuvent varier considérablement par rapport aux résultats effectifs qui seront publiés. Les données financières estimées ont été présentées au Conseil d'Administration et n'ont pas été revues par les Commissaires aux comptes. (Des informations complémentaires figurent dans le dernier Document de Référence de Gameloft, déposé le 6 juin 2008 auprès de l'Autorité des marchés financiers).

A propos de Gameloft

Gameloft est un éditeur et développeur mondial de jeux vidéo pour téléphones mobiles et consoles. Fondé en 1999, Gameloft est aujourd'hui positionnée comme l'une des entreprises les plus innovantes dans son domaine. Gameloft conçoit des jeux pour les téléphones incluant les technologies Java, Brew ou Symbian, dont le parc installé devrait dépasser quatre milliards d'unités en 2012. Les jeux Gameloft sont aussi disponibles sur WiiWare, DS, Microsoft Xbox LIVE Arcade, iPod et PCs.

Des accords de partenariat avec de grands détenteurs de droits comme Ubisoft Entertainment, Universal Pictures, ABC, Touchtone Television, Dreamworks Amimations SKG, Endemol, 20th Century Fox, Viacom, Sony Pictures, Warner Bros., FIFPro, Ferrari, Roland-Garros, Gus Hansen, Kobe Bryant, Derek Jeter, Robinho, Reggie Bush, Chuck Norris, Patrick Vieira, Christophe Dominici ou Jonny Wilkinson permettent à Gameloft d'associer de très fortes marques internationales à ses jeux. En plus de ces marques, Gameloft possède ses propres marques comme Block Breaker Deluxe, Asphalt: Urban GT ou New York Nights.

Grâce à des accords avec l'ensemble des principaux opérateurs télécom, des fabricants de téléphones, des distributeurs spécialisés ainsi que sa boutique http://www.gameloft.com, Gameloft distribue ses jeux dans 80 pays.

Gameloft est présent à New York, San Francisco, Seattle, Montréal, Mexico, Buenos Aires, Paris, Londres, Cologne, Copenhague, Milan, Madrid, Lisbonne, Vienne, Varsovie, Helsinki, Bucarest, New Dehli, Kuala Lumpur, Pékin, Tokyo, Hong Kong, Séoul, Singapour et Sydney. Gameloft est cotée au Compartiment B de la bourse de Paris (ISIN: FR0000079600, Bloomberg: GFT FP, Reuters: GLFT.PA).

Contact: Anne-Laure Desclèves Head of Communications Tel +33-1-5816-2082 Mail anne-laure.descleves@gameloft.com Pour d'avantage d'information, rendez-vous sur http://www.gameloft.com Suivez les fils twitter http://twitter.com/gameloft et http://twitter.com/gameloft_IR

Gameloft

Contact: Anne-Laure Desclèves, Head of Communications, Tel +331-5816-2082, Mail anne-laure.descleves@gameloft.com

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News archive of November 2009
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