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Companies news of 2009-05-01 (page 2)

  • Salesforce.com Chairman and CEO to Speak at Cloudforce ChicagoEvent to be audiocast live...
  • New Building at SAP North America's Philadelphia-Area Campus Features Energy-Efficient,...
  • Heavy Reading & Pyramid Research Join Forces to Launch a New IP Transformation Market...
  • Rockford Corporation Reports First Quarter 2009 Results
  • China TransInfo to Present at CCG IR's China Rising Conference in New York and Conduct...
  • Cobra Electronics Reports First Quarter ResultsSales Decline Reflects Global Economic...
  • Federal Signal Corporation Announces First Quarter EarningsCompany Generates Q1 Profit...
  • FiberNet to Open the NASDAQ Stock Market
  • Digital Ally, Inc. to Host First Quarter Conference Call on May 1, 2009
  • Consolidated Graphics Will Hold a Conference Call to Discuss the Company's Fourth Quarter...
  • Global Payments Announces Third Quarter Dividend
  • RDM Corporation reports second quarter resultsToronto Stock Exchange Symbol: RC
  • Comarco Reports Fiscal 2009 Fourth Quarter and Full Year Financial ResultsConference Call...
  • TheGreektrader.com Goes Live!!!!!!!TheGreektrader.com, Inc. a subsidiary of Zealous Inc....
  • Ian Austin MP, West Midlands Regional Minister, Visits Goodrich Wolverhampton Facility
  • Ceragon Networks Reports First Quarter 2009 Financial ResultsConference Call at 8:00 a.m....
  • Orbital and Changan - FlexDI Concept Engine



    Salesforce.com Chairman and CEO to Speak at Cloudforce ChicagoEvent to be audiocast live on salesforce.com's investor relations website

    SAN FRANCISCO, May 1 /PRNewswire-FirstCall/ -- Salesforce.com , the enterprise cloud computing company, today announced that Marc Benioff, chairman and CEO of salesforce.com, will speak at Cloudforce Chicago on Monday, May 4th, 2009 at 1:00 pm CDT. Mr. Benioff will also speak at a lunch presentation at approximately 11:30 am CDT.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20050216/SFW105LOGO)

    An audio webcast of Mr. Benioff's presentations will be available on salesforce.com's website at http://www.salesforce.com/investor.

    About salesforce.com

    Salesforce.com is the enterprise cloud computing company. The company's portfolio of SaaS applications, including its award-winning CRM, available at http://www.salesforce.com/products/, has revolutionized the ways that customers manage and share business information over the Internet. The company's Force.com PaaS enables customers, developers and partners to build powerful on-demand applications that deliver the benefits of multi-tenancy across the enterprise. Applications built on the Force.com platform, available at http://www.force.com/, can be easily shared, exchanged and installed with a few simple clicks via salesforce.com's Force.com AppExchange marketplace available at http://www.salesforce.com/appexchange/.

    As of January 31, 2009, salesforce.com manages customer information for approximately 55,400 customers including Allianz Commercial, Dell, Dow Jones Newswires, Japan Post, Kaiser Permanente, KONE, and SunTrust Banks. Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase salesforce.com applications should make their purchase decisions based upon features that are currently available. Salesforce.com has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM". For more information please visit http://www.salesforce.com/uk

    Copyright (c) 2009 salesforce.com, inc. All rights reserved. Salesforce and the "no software" logo are registered trademarks of salesforce.com, inc., and salesforce.com owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners.

    Photo: http://www.newscom.com/cgi-bin/prnh/20050216/SFW105LOGO
    http://photoarchive.ap.org/
    PRN Photo Desk photodesk@prnewswire.com salesforce.com

    CONTACT: Gordon Evans of salesforce.com, +1-415-536-7608,
    gevans@salesforce.com

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




    New Building at SAP North America's Philadelphia-Area Campus Features Energy-Efficient, Sustainable DesignBuilding is Designed to LEED Platinum Standard, the U.S. Green Building Council's Highest Environmental Rating

    NEWTOWN SQUARE, Pa., May 1 /PRNewswire-FirstCall/ -- A suburban office building with a grass roof, toilets that use rainwater for flushing and an air-conditioning system that makes its own ice for cooling? It's a reality at SAP AG's office expansion on its Newtown Square campus. Designed by FXFOWLE Architects, known for its innovative sustainable designs, the new 200,000-square-foot building unveiled today includes numerous sustainable design features and is built to comply with the U.S. Green Building Council's (USGBC) Leadership in Energy and Environmental Design (LEED) Platinum standard. At present, there are fewer than 125 office buildings in the U.S. that have obtained USGBC's highest environmental rating. The SAP building is currently under review by the USGBC, with LEED Platinum certification anticipated in 2010.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20050310/SFTH009LOGO-a)

    Worldwide, SAP is committed to incorporating sustainable design features into all of its new building projects and strives to design its new buildings to at least a LEED Silver standard. This effort is part of the company's strategic focus on sustainability, which includes both a commitment to managing its internal operations in a sustainable way and delivering solutions that support its customers' sustainable business practices.

    "SAP's commitment to long-term growth in the North American region and the Philadelphia area is clearly reflected in this expansion of our North American campus," said Bill McDermott, president, Global Field Operations, SAP AG, and member of the SAP Executive Board. "The sustainable attributes of this new building are a natural outgrowth of SAP's holistic and strategic corporate focus on sustainability. The building's design not only significantly reduces its environmental impact, it also provides our nearly 2,000 Philadelphia-area employees with an innovative, state-of-the-art workplace."

    Located on the 110-acre campus of SAP North America and adjacent to its existing LEED-certified building, the new building features a floor-to-ceiling glass exterior and an open-space plan that takes maximum advantage of daylight. The "green" grass roofs, the use of native and regional vegetation species in landscaping and the maintenance of extensive open space highlight SAP's goal of integrating the building with the surrounding natural environment.

    The new building also incorporates numerous innovative features to reduce water use. Rainwater from the green roof and other areas is collected in a 50,000-gallon cistern, which supplies water for landscape irrigation and the flushing of toilets in some of the building's bathrooms. Additionally, low-flow bathroom fixtures will greatly reduce water usage, with an expected saving of over one million gallons of water per year.

    Energy-efficient features abound in the building. Geothermal wells use the constant ground temperature of the earth to both heat and cool areas of the building. Lighting systems based on the concept of "daylight harvesting" are controlled by sensors that dim the lighting levels and raise or lower window shades based on the level of sunlight coming through the triple-glazed glass exterior wall. A hybrid air conditioning system produces ice during the overnight hours when energy demands and electric rates are lowest, with the chilled water from the melting ice used to cool the building during the heat of the day.

    These and other energy-efficient features are projected to reduce the building's energy use by as much as 49 percent compared to conventional buildings, and will contribute to global efforts from SAP to meet its recently announced aggressive carbon reduction targets (see "SAP Increases Focus on Sustainable Business"). It is expected that the additional costs of implementing the LEED Platinum features will be recovered within seven to 10 years, making the new building sustainable from both a resource and financial standpoint. The new building has also achieved the U.S. Environmental Protection Agency's Designed to Earn the ENERGY STAR (DEES) rating, which acknowledges energy-efficient architecture and engineering in new buildings. Fewer than 120 projects have earned the DEES rating since the program began in 2004.

    Green building standards were also a priority during construction. Strict waste-management and recycling practices were followed, resulting in more than 1,200 tons of waste being diverted from landfills. Environmentally friendly materials were used whenever possible, with the materials, finishes and furnishings incorporating sustainable features such as high recycled content and being locally sourced to reduce the carbon footprint. For example, the building features wood from trees harvested on the site during the construction phase. Construction of the new building generated 1,900 jobs for local tradespeople, adding between $30-40 million to the local economy.

    More information about sustainability efforts from SAP may be found at the Sustainability at SAP section on sap.com. To preview and download broadcast-standard stock footage and press photos of the new building and its sustainability features, please visit http://www.sap.com/photos.

    Next Major Event: SAPPHIRE(R) 2009 Orlando

    More than 10,000 customers, partners and industry experts are convening at SAPPHIRE(R) 2009 to discover how SAP and its thriving partner ecosystem are delivering IT solutions that help today's best-run businesses achieve clarity in every area of their operations. SAP's premier educational and networking event, SAPPHIRE is the one occasion each year where senior executives, business managers and decision-makers can come together to explore how innovative business solutions foster long-term, profitable growth. SAPPHIRE 2009 will be held in Orlando, Florida, May 11-14. For more information, please visit http://www.sap.com/sapphire. Join the conversation via Twitter at #sapphire09.

    In addition to SAPPHIRE 2009, SAP is also hosting SAP(R) World Tour 2009, a series of local events in more than 70 cities through Europe, the Middle East, Asia and Latin America. For more information, visit the SAP World Tour event page on sap.com.

    About SAP

    SAP is the world's leading provider of business software(*), offering applications and services that enable companies of all sizes and in more than 25 industries to become best-run businesses. With more than 86,000 customers in over 120 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE, under the symbol "SAP." For more information, visit http://www.sap.com/.

    (*) SAP defines business software as comprising enterprise resource planning and related applications.

    Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

    Copyright (C) 2009 SAP AG. All rights reserved.

    SAP, R/3, mySAP, mySAP.com, xApps, xApp, SAP NetWeaver and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies. Data contained in this document serve informational purposes only. National product specifications may vary.

    For customers interested in learning more about SAP products: Global Customer Center: +49 180 534-34-24 United States Only: 1 (800) 872-1SAP (1-800-872-1727) For more information, media only: Jim Dever, +1 610 662 1341, james.dever@sap.com EDT Andy Kendzie, +1 202 312 3919, andy.kendzie@sap.com EDT SAP Press Office, +49 (6227) 7-46315, CET; +1 (610) 661-3200, EDT; press@sap.com

    Photo: http://www.newscom.com/cgi-bin/prnh/20050310/SFTH009LOGO-a
    http://photoarchive.ap.org/
    photodesk@prnewswire.com SAP AG

    CONTACT: Jim Dever, +1-610-662-1341, james.dever@sap.com EDT, or Andy
    Kendzie, +1-202-312-3919, andy.kendzie@sap.com EDT, or SAP Press Office, +49
    (6227) 7-46315, CET; +1-610-661-3200, EDT; press@sap.com, all of SAP AG

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




    Heavy Reading & Pyramid Research Join Forces to Launch a New IP Transformation Market Tracker ServiceQuarterly offering delivers detailed global data and analysis covering carrier activity and deployment of infrastructure gear to enable migration to all-IP networks

    NEW YORK, May 1 /PRNewswire/ -- Heavy Reading (http://www.heavyreading.com/) and Pyramid Research (http://www.pyr.com/) have teamed up to create the telecom industry's most comprehensive market sizing and forecasting service aimed at one of telecom's most critical flash points: the ongoing migration to all-IP network infrastructures and the replacement of circuit-switched technologies with packet-enabled products.

    The IP Network Transformation Quarterly Market Tracker Service combines Heavy Reading's deep understanding of telecom technology developments and trends with Pyramid Research's unparalleled coverage of regional and national markets to deliver the most succinct, accurate, and timely intelligence covering the state of telecom network transformation from both a business and technological perspective.

    Each quarter, the IP Network Transformation Quarterly Market Tracker Service provides a fully updated, comprehensive view of the actual and anticipated rate of deployment of VoIP infrastructure in fixed networks in strategic markets around the world - all in one single, convenient package. The debut version includes coverage of North America, Western Europe, Central/Eastern Europe, and Asia/Pacific; the service will include coverage of Latin America in future releases.

    The IP Network Transformation Quarterly Market Tracker offers a sweeping array of information and analysis, including:

    -- Timely updates charting the progress of IP network transformation in wireline telecom networks by region and by national market. -- Regional and country-specific forecasts for packet- and circuit-switched deployments through 2013, updated quarterly to reflect new market realities. -- Detailed IP deployment statistics and forecasts for 59 individual network operators through 2013, updated quarterly. -- Deep market intelligence and analysis covering key customer wins and losses in the IP transformation sector by country and specific operator, focusing on 16 leading IP transformation vendors, including Alcatel-Lucent, BroadSoft, Cedar Point, Cisco Systems, Comverse, Ericsson, Huawei, Italtel, MetaSwitch, Nokia Siemens Networks, Nortel Networks, Sonus Networks, Thomson, UTStarcom, Veraz Networks, and ZTE. -- Ongoing tracking of the key technologies (IMS, softswitches, application servers, etc.) that carriers are deploying as part of their IP transformation initiatives.

    The IP Network Transformation Quarterly Market Tracker Service is the first joint service created by Heavy Reading and Pyramid Research following Pyramid's acquisition by TechWeb (http://www.techweb.com/), the global leader in business technology media. "This inaugural service is an ideal pairing of Pyramid's extensive regional market expertise with Heavy Reading's deep understanding of enabling and emerging technologies," says Dennis Mendyk, managing director of Heavy Reading and Pyramid Research. "This type of hybrid product will set a new standard for telecom business and technology forecasting."

    "The IP Network Transformation Quarterly Market Tracker delivers concise and complete intelligence covering one of the telecom equipment industry's most critical landscapes - the evolution of telecom networks from circuit-switched TDM to packet-switched IP," notes Jim Hodges, Senior Analyst at Heavy Reading and creator of the new service. "It stands alone as a one-stop source that offers unrivaled breadth and analysis of the ongoing Class 5 network transformation in an easy-to-use package."

    The IP Network Transformation Quarterly Market Tracker is distributed in PowerPoint and Excel formats. Quarterly reports may be purchased individually ($5,995) or as part of an annual subscription service ($19,995).

    For more information, or to receive a free PowerPoint demo of the IP Network Transformation Quarterly Market Tracker, please contact:

    Dave Williams Sales Director, Heavy Reading 858-485-8870 dave.williams@heavyreading.com Press/analyst contacts: Dennis Mendyk Managing Director, Heavy Reading 201-587-2154 mendyk@heavyreading.com Jennifer Baker Marketing Director, Pyramid Research 617-871-1910 jbaker@pyr.com About Heavy Reading

    Heavy Reading (http://www.heavyreading.com/) is an independent market research organization offering quantitative analysis of telecom technology to service providers, vendors, and investors. Its mandate is to provide the comprehensive competitive analysis needed today for the deployment of profitable networks based on next-generation hardware and software.

    About Pyramid Research

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

    About TechWeb

    TechWeb (techweb.com/aboutus), the global leader in business technology media, is an innovative business focused on serving the needs of technology decision-makers and marketers worldwide. TechWeb produces the most respected and consumed media brands in the business technology market. Today, more than 13.3 million* business technology professionals actively engage in our communities created around our global face-to-face events Interop, Web 2.0, Black Hat and VoiceCon; online resources such as the TechWeb Network, Light Reading, Intelligent Enterprise, InformationWeek.com, bMighty.com, and The Financial Technology Network; and the market leading, award-winning InformationWeek, TechNet Magazine, MSDN Magazine, Wall Street & Technology magazines. TechWeb also provides end-to-end services ranging from next-generation performance marketing, integrated media, research, and analyst services. TechWeb is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than $1.6 billion.

    * 13.3 million business decision-makers: based on # of monthly connections About United Business Media Limited

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

    Heavy Reading and Pyramid Research

    CONTACT: Dave Williams, Sales Director, Heavy Reading, +1-858-485-8870,
    dave.williams@heavyreading.com; Press/analyst contacts: Dennis Mendyk,
    Managing Director, Heavy Reading, +1-201-587-2154, mendyk@heavyreading.com, or
    Jennifer Baker, Marketing Director, Pyramid Research, +1-617-871-1910,
    jbaker@pyr.com

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




    Rockford Corporation Reports First Quarter 2009 Results

    TEMPE, Ariz., May 1 /PRNewswire-FirstCall/ -- Rockford Corporation today announced financial results for the three months ended March 31, 2009.

    Net income for the three months ended March 31, 2009 was $25,000, compared to a net loss of $0.1 million for the comparable period in 2008.

    Net sales for the three months ended March 31, 2009 decreased 21.6% to $14.5 million compared to $18.4 million for the same period in 2008. The decrease in net sales was primarily due to lower sales of Rockford's Lightning Audio branded products, lower OEM sales and royalty revenue, lower sales to international customers, and higher discounts due to end-of-life sales. As a percent of net sales, gross margin for the three months ended March 31, 2009 decreased to 30.6% compared to 34.5% for the same period in 2008. The decrease in gross margin percentage was primarily due to lower royalty revenue and higher discounts as a percent of sales.

    Operating expenses for the three months ended March 31, 2009, decreased 23.7% to $4.8 million compared to the 2008 level of $6.2 million.

    William R Jackson, Rockford's President, commented, "The car audio market continues to be difficult. Our sales this quarter were impacted by shortfalls in our Lightning Audio mass retail, OEM, and international sales channels. The decline in new car sales continues to impact our OEM customers. They are reporting significantly lower vehicle sales in the first quarter of 2009 compared to 2008. We expect our OEM sales and royalty revenue will remain depressed until our OEM partners begin to increase their own sales. In addition, the global slowdown in consumer spending has hit our aftermarket retailers and distributors."

    Mr. Jackson continued, "Our specialty retailers in the US reported seeing improved floor traffic during March and the specialty channel showed encouraging performance for the first quarter. Some of this performance may result from the removal of the Circuit City chain from the marketplace, but we also benefited because our inside sales team continues to have a positive impact with our dealers and we began delivering most of our 2009 products in the first quarter. The response to the new products from our dealers and consumers has been very positive."

    Mr. Jackson noted, "Margins were primarily impacted by two factors, reduced OEM royalty and significant end of life sales. We missed our sales forecast in the 4th quarter of 2008 because of the worldwide economic slowdown. This caused us to have a significant amount of end of life product. We worked hard to sell most of this product during the 1st quarter and do not expect continued end of life sales at this level for the remainder of 2009."

    Mr. Jackson observed, "The results of our 4th quarter 2008 restructure have been positive. Our SG&A is down and we believe our break even is manageable. Our team continues to work closely with our OEM and retail partners."

    Mr. Jackson concluded, "We believe the strength of the brand and our great product line will remain attractive to consumers. Considering the challenging circumstances during the last six months, we believe we are beginning to see some signs of encouragement in the market and are working hard to take advantage of the opportunities these signs suggest."

    About Rockford Corporation (http://www.rockfordcorp.com/)

    Rockford is a designer, marketer and distributor of high-performance audio systems for the mobile audio aftermarket and for the OEM market. Rockford's mobile audio products are marketed primarily under the Rockford Fosgate, Rockford Acoustic Design and Lightning Audio brand names.

    Rockford's primary brand websites include: http://www.rockfordfosgate.com/, http://www.rockfordacousticdesign.com/, and http://www.lightningaudio.com/.

    Forward-looking Statement Disclosure

    We make forward-looking statements in this press release including but not limited to statements about our results of operations. These statements may be identified by the use of forward-looking terminology such as "may," "will," "believe," "expect," "anticipate," "estimate," "continue," or other similar words.

    Forward-looking statements are subject to many risks and uncertainties. Rockford cautions you not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Actual results may differ materially from those anticipated in our forward-looking statements. Rockford disclaims any obligation or undertaking to update these forward-looking statements to reflect changes in our expectations or changes in events, conditions, or circumstances on which our expectations are based.

    Our revenues continued to decline in the first quarter of 2009, primarily attributable to continued weakness in the mobile audio aftermarket and in OEM sales. The financial meltdown at the end of 2008 has clearly contributed to an already difficult environment and deepened the current recession. We anticipate this will lead consumers and retailers to become even more conservative in their spending. We are reducing our operating expenses in order to reduce our working capital needs and break-even sales level.

    If sales erode further than we expect, we may not be able to achieve our business objectives and our current financing might not prove adequate to maintain our current business. In this event, we might have to consider changes that might include reductions in employee compensation and benefits, reevaluation of our status as a public company in order to reduce costs, reductions in our working capital needs, changes in our distribution strategies, and potential exit strategies. We also might need to consider additional borrowings or equity financing. There is no assurance that we could implement operational changes or raise adequate new financing in the current economic environment. If we failed to do so, we could suffer setbacks in our competitive position, ability to improve our aftermarket and OEM businesses, and overall financial performance.

    Our business swung to a loss in 2008 (with almost all of the loss in the fourth quarter) and we were able to achieve only a very small profit for the first quarter of 2009. We cannot be certain whether we will be able to sustain this return to profitability. If our current financing proves inadequate we may be forced to seek alternative sources of financing to maintain our business. In the current financial environment we can give no assurance that we will be able to secure such financing on acceptable terms. In the worst case, we may not be able to continue our business as we currently anticipate.

    When considering our forward-looking statements, you should keep in mind the risk factors and other cautionary statements identified in Rockford's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on April 15, 2009. The risk factors noted throughout the report, particularly those identified in the discussion in Item 1A of the report, and other risk factors that Rockford has not anticipated or discussed, could cause our actual results to differ significantly from those anticipated in our forward-looking statements.

    Rockford Corporation Condensed Consolidated Statements of Operations (unaudited) ($000s omitted except per share amounts) Three Months Ended March 31, ---------- 2008 2009 ---- ---- (unaudited) Net sales $18,445 $14,466 Cost of goods sold 12,088 10,042 ------ ------ Gross profit 6,357 4,424 Operating expenses 6,241 4,763 ----- ----- Operating income (loss) 116 (339) Interest and other expense (income), net 207 (364) ---- ----- Income (loss) before income taxes (91) 25 Income tax expense - - ---- ---- Net income (loss) $(91) $25 ===== === Net income (loss) per common share: Net income (loss) Basic $(0.01) $0.00 ======= ===== Diluted $(0.01) $0.00 ======= ===== Weighted average shares: Basic 8,883 8,581 ===== ===== Diluted 8,883 8,581 ===== ===== Rockford Corporation Condensed Consolidated Balance Sheets (unaudited) (In thousands) December 31, March 31, 2008 2009 ----------- -------- ASSETS Current assets: Cash and cash equivalents $- $- Accounts receivable, net 12,856 14,958 Inventories 13,043 7,890 Prepaid expenses and other current assets 551 347 --- --- Total current assets 26,450 23,195 Property and equipment, net 1,743 1,685 Other assets 332 268 --- --- Total assets $28,525 $25,148 ======= ======= LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $3,980 $3,574 Accrued salaries and incentives 1,367 1,078 Accrued warranty and returns 700 642 Other accrued liabilities 1,838 1,964 Current portion of other long-term liabilities 161 150 Notes payable, net 4,980 2,496 Asset-based credit facility 7,547 7,219 ----- ----- Total current liabilities 20,573 17,123 Notes payable, net 2,593 2,599 Other long-term liabilities 66 75 ---- ---- Total liabilities 23,232 19,797 Shareholders' equity: Common stock 94 94 Additional paid-in-capital 38,554 38,587 Retained deficit (32,044) (32,019) Treasury stock (1,311) (1,311) ----- ----- Total shareholders' equity 5,293 5,351 ----- ----- Total liabilities and shareholders' equity $28,525 $25,148 ======== ========

    Rockford Corporation

    CONTACT: Richard Vasek, Chief Financial Officer of Rockford Corporation,
    +1-480-517-3169

    Web Site: http://www.rockfordcorp.com/
    http://www.lightningaudio.com/
    http://www.rockfordfosgate.com/




    China TransInfo to Present at CCG IR's China Rising Conference in New York and Conduct Nationwide Non-Deal Road Show

    BEIJING, May 1 /PRNewswire-Asia-FirstCall/ -- China TransInfo Technology Corp., , ("China TransInfo" or "the Company"), a leading provider of public transportation information systems technology and comprehensive solutions in the People's Republic of China ("PRC"), announced today that the Company's management will present at the upcoming China Rising Conference hosted by CCG Investor Relations in New York, NY on May 18, 2009.

    The date, time and location of China TransInfo's presentation at the China Rising Conference are as follows:

    Date: Monday, May 18, 2009 Time: 1:30 p.m. to 2:00 p.m. Eastern Time Presenter: Fan Zhou, Investor Relations Director Venue: The Yale Club 50 Vanderbilt Avenue New York, NY 10017 Webcast: http://www.chinarisingconference.com/webcast.html

    A replay of the webcast will be available for up to one year following the presentation using the same link.

    The China Rising Investment Conference hosted by CCG Investor Relations will provide over 250 fund managers and investors access to senior management of a wide range of Chinese growth companies in sectors including consumer staples, agriculture, pharmaceuticals, infrastructure, information technology, advanced materials, capital goods, and alternative energy. The conference will include over 30 US-listed Chinese companies and a number of private companies.

    Interested parties and investors may find more information for the conference by visiting the website at http://www.chinarisingconference.com/ .

    Surrounding the China Rising Conference, China TransInfo's management will conduct non-deal road show meetings throughout the US. The Company expects to visit Boston, Chicago, New York, Nashville, Minneapolis, Los Angeles and San Francisco between May 14 and May 26.

    About China TransInfo

    China TransInfo, through China TransInfo Group and its operating subsidiaries, is primarily focused on providing transportation information services. The Company aims to become the largest transportation information product and comprehensive solutions provider, as well as the largest integrated transportation information platform and commuter traffic media platform builder and operator in China. China TransInfo is involved in developing multiple applications in transportation, digital city, land and resource filling system based on GIS technologies which is used to service the public sector. In addition, the Company is developing its transportation system to include ETC technology. As the co-formulator to several transportation technology national standards, the Company has software copyrights for to 75 software products and has won 5 of 10 model cases sponsored by PRC Ministry of Communications. The Company's affiliation with Peking University provides access to the University's GeoGIS Research Laboratory, including 30 Ph.D. researchers. As a result, the Company is currently playing a key role in setting the standards for electronic transportation information solutions. For more information please visit the company website at http://www.chinatransinfo.com/ .

    Safe Harbor Statement

    This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements". These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov/ ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

    For more information, please contact: Company Contact: Ms. Fan Zhou, Investor Relations Director China TransInfo Technology Corp. Tel: +86-10-8267-1299 x8033 Email: ir@ctfo.com Investor Relations Contact: Mr. Crocker Coulson, President Email: crocker.coulson@ccgir.com Tel: +1-646-213-1915 (NY office) Graham Reed, Financial Writer Email: graham.reed@ccgir.com Tel: +1-646-213-1907 CCG Investor Relations Website: http://www.ccgirasia.com/

    China TransInfo Technology Corp.

    CONTACT: Company Contact: Ms. Fan Zhou, Investor Relations Director of
    China TransInfo Technology Corp., +86-10-8267-1299 x8033, ir@ctfo.com; or
    Investor Relations Contact: Mr. Crocker Coulson, President,
    +1-646-213-1915 (NY office), crocker.coulson@ccgir.com, or Graham Reed,
    Financial Writer, +1-646-213-1907, graham.reed@ccgir.com, both of CCG Investor
    Relations

    Web site: http://www.chinatransinfo.com/
    http://www.chinarisingconference.com/
    http://www.chinarisingconference.com/webcast.html




    Cobra Electronics Reports First Quarter ResultsSales Decline Reflects Global Economic Conditions

    CHICAGO, May 1 /PRNewswire-FirstCall/ -- Cobra Electronics Corporation , a leading global designer and marketer of mobile communications and navigation products, today reported a net loss of $1.6 million, or $0.25 per share for the first quarter of 2009, as compared to net income of $81,000, or $0.01 per fully diluted share in the first quarter of 2008. A loss was incurred as sales declined to $19.1 million from $28.9 million in the first quarter of the prior year. The decline in sales was particularly pronounced in Europe as the combined sales of Cobra Electronics Europe Limited ("CEEL") and Performance Products Limited ("PPL") declined by 55.4 percent, including significant declines due to exchange rates as the euro declined by nearly 15 percent and the pound sterling declined by 27 percent from prior year levels. Cobra's U.S. business experienced a 22.7 percent decline in adjusted sales, after excluding mobile navigation net sales of $841,000 from last year's results and net returns of $98,000 from the current quarter. Also contributing to the loss in the first quarter was a $279,000 decline in the cash surrender value of life insurance that is in place to recapture the costs of deferred compensation programs for certain current and former officers of the company.

    "We are disappointed by sales results in the first quarter, which reflect a deepening global recessionary environment," said Jim Bazet, Cobra's Chairman and Chief Executive Officer. "In particular, sales in Europe have been affected by a significant decline in consumer confidence and overall decline in retail sales; the International Monetary Fund recently forecasted that the EU's economy will contract more significantly in 2009 than that of the U.S. and our first quarter results clearly reflect this sentiment. Although sales in the U.S. were not as severely impacted by the overall economy, the decline in freight traffic and the resulting decline in travel center business took their toll on Citizens Band radio sales."

    The year-over-year decline in net sales of $9.8 million was attributable to both the Cobra and PPL segments. Sales for the Cobra segment, excluding $1.1 million of mobile navigation sales in the prior year, declined by $6.2 million, or 26.5 percent, while sales of the PPL segment declined by $2.4 million, or 57.1 percent. The most significant decline in Cobra segment sales was for domestic Citizens Band radios, which fell by more than 40 percent, as declining freight movements resulted in reductions in traffic at travel centers and truck stops. Additionally, Cobra experienced a vendor delay that caused more than $800,000 of Citizens Band radio sales to shift into the second quarter. Also impacting sales in the first quarter was a decline in domestic two-way radio sales of approximately 40 percent, primarily due to last year's decision by Wal-Mart to reduce Cobra's SKU count in this category. As noted in prior releases, Cobra has been awarded exclusive positioning for two-way radios at Wal-Mart in 2009 and substantially improved positioning at Best Buy; it is anticipated that these sales will become visible in the second quarter as planogram resets are implemented and Cobra is anticipating improved two-way radio sales through the balance of the year.

    PPL reported a 57.1 percent decline in sales, with exchange rate losses contributing approximately 16 points of this decline. Satellite navigation sales fell by more than 40 percent (in pounds sterling) as category sales declined and retailers have reduced the shelf space allocated to this category. Additionally, the introduction of two new satellite navigation products targeting niche consumer markets was delayed by development and production difficulties which have since been overcome. The sale of PPL's exclusive database of speed camera locations for use in smartphones contributed substantially to sales in the first quarter of last year with very few sales recorded in this year's first quarter. As noted last year, these sales are likely to be promotional in nature and, as such, provide very significant opportunities at discrete points during the year, rather than being spread through the quarters and being more predictable in nature. We continue to anticipate that this distribution and marketing channel for Cobra's AURA data base will be successful. As product sales at PPL declined, the corresponding download revenue followed, with sales down by 21.3 percent (in pounds sterling).

    Cobra reported a decline in gross margins as compared to the first quarter of 2008, primarily due to product mix for both the Cobra and PPL segments, as well as the effect of overhead and amortization charges on a lower level of sales. On a consolidated basis, Cobra's gross margin decreased to 26.5 percent from 30.9 percent in the prior year. This reflected a decline in gross margins for the Cobra reporting segment to 24.7 percent from 28.4 percent, as well as a decline in the PPL segment gross margin to 43.6 percent from 45.1 percent in the prior year.

    Selling, general and administrative expenses declined to $7.1 million in the first quarter from $8.3 million in the prior year. This decline reflects lower sales and associated variable selling expenses, as well as a concerted effort by management to curtail expenses, including headcount reductions and lower professional fees. "As noted in our conference call in February, Cobra eliminated 16 positions early in this quarter and eliminated budgeted expenses of more than $1.2 million. We have communicated throughout the company that operating expenses must be watched closely and each expense scrutinized before making commitments," said Mr. Bazet. "Clearly, progress was made in the first quarter, but the focus on controlling expenses must be maintained if we are to meet our profit and cash flow goals."

    Cobra also recorded other expenses of $257,000 in the quarter, as compared to other expenses of $192,000 in the first quarter of the prior year. Included in this category was a $279,000 loss on the cash surrender value of life insurance that the company owns for the purpose of funding deferred compensation programs for several current and former officers of the company. The loss was generated as the investment vehicles in which the cash value of the policies was invested declined in value in line with the overall financial markets. Offsetting this loss, in part, were royalties and license fees received by Cobra for certain intellectual property owned by the company, including licensing the Cobra brand for Bluetooth(R) headsets.

    Cobra maintained its strong balance sheet during the first quarter. The company had interest-bearing debt of $16.8 million as of March 31, 2009 and cash of $1.3 million, for "net debt" of $15.5 million, as compared to "net debt" of $13.4 million the prior year. Availability against our credit facility was nearly $7.8 million and is anticipated to be sufficient for our foreseeable needs. Inventory at the end of the first quarter declined to $28.1 million from $32.9 million the prior year, in part reflecting the decline in mobile navigation inventories as well as management's efforts to manage working capital. Accounts receivable at the end of the quarter were $14.2 million, a decline from $21.8 million one year earlier.

    Mr. Bazet reiterated the company's outlook for 2009. "The prospects for the global economy, particularly in Europe, remain uncertain. Although our first quarter results were below our expectations, we continue to forecast profitability in 2009 as new products are introduced and we take advantage of new and enhanced marketing channels. As noted previously, we have taken steps to weather the downturn and continue to identify opportunities to reduce expenses in light of reduced consumer spending. However, in light of the uncertainties we are facing, the Board of Directors has elected not to pay a dividend in 2009. While this was a difficult decision, we believe this is an appropriate response in order to preserve cash and maintain our financial flexibility."

    Cobra will be conducting a conference call on May 1, 2009 at 11:00 a.m. EDT to discuss first quarter results as well as its current strategies and outlook. The call can also be accessed live or through replay via the Internet at http://www.cobra.com/.

    About Cobra Electronics

    Cobra Electronics is a leading global designer and marketer of communication and navigation products, with a track record of delivering innovative and award-winning products. Building upon its leadership position in the GMRS/FRS two-way radio, radar detector and Citizens Band radio industries, Cobra identified new growth opportunities and has aggressively expanded into the marine market and has expanded its European operations. The Consumer Electronics Association, Forbes and Deloitte & Touche have all recently recognized Cobra for the company's innovation and industry leadership. To learn more about Cobra Electronics, please visit the Cobra site at http://www.cobra.com/.

    Safe Harbor

    This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks and uncertainties. Actual results may differ materially from these expectations due to factors such as the acceptance of Cobra's new and existing products by customers, the continued success of Cobra's cost containment efforts and the continuation of key distribution channel relationships. Please refer to Cobra's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, for a more detailed discussion of factors that may affect Cobra's performance.

    Condensed Consolidated Statements of Operations (in thousands, except per share amounts, unaudited) For the Three Months Ended March 31, March 31, 2009 2008 Net sales $19,085 $28,858 Cost of sales 14,023 19,942 Gross profit 5,062 8,916 Selling, general and administrative expense 7,056 8,307 (Loss) earnings from Operations (1,994) 609 Other income (expense): Interest expense (150) (303) Other, net (257) (192) (Loss) earnings before taxes (2,401) 114 Tax (benefit) provision (786) 26 Minority interest (1) (7) Net (loss) earnings $(1,616) $81 Net (loss) earnings per common share: Basic $(0.25) $0.01 Diluted $(0.25) $0.01 Weighted average shares outstanding: Basic 6,471 6,471 Diluted 6,471 6,474 Dividends declared per common share $0.00 $0.16 Condensed Consolidated Balance Sheets (in thousands, unaudited) ASSETS: March 31, December 31, March 31, 2009 2008 2008 Current assets: Cash $1,340 $1,985 $6,245 Accounts receivable, net 14,226 18,017 21,789 Inventories, net 28,084 27,464 32,920 Other current assets 9,856 9,332 13,652 Total current assets 53,506 56,798 74,606 Property, plant and equipment, net 5,596 5,776 6,390 Total other assets 16,751 16,424 31,078 Total assets $75,853 $78,998 $112,074 LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Accounts payable $3,965 $2,923 $7,343 Accrued liabilities 4,936 6,274 9,752 Short-term debt 1,370 1,370 1,240 Total current liabilities 10,271 10,567 18,335 Non-current liabilities: Long-term debt 15,427 16,301 18,445 Deferred taxes 1,882 1,983 3,654 Deferred compensation 6,684 6,516 6,488 Other long-term liabilities 1,175 1,077 482 Total non-current liabilities 25,168 25,877 29,069 Minority interest 25 24 30 Total shareholders' equity 40,389 42,530 64,640 Total liabilities and shareholders' equity $75,853 $78,998 $112,074

    Cobra Electronics Corporation

    CONTACT: Investors, Michael Smith, Senior Vice President and CFO of
    Cobra Electronics Corporation, +1-773-804-6281, msmith@cobra.com; or Media,
    Elizabeth Dolezal of Financial Relations Board, +1-312-640-6771,
    edolezal@mww.com, for Cobra Electronics Corporation

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




    Federal Signal Corporation Announces First Quarter EarningsCompany Generates Q1 Profit Despite Challenging Economic Conditions--Highlights--- Q1 EPS of $0.02 from Continuing Operations- Overhead Costs Reduced $4 Million versus Q1 2008- Q1 Order Backlog = $273 Million- $148 Million of Available Liquidity at end of Q1

    OAK BROOK, Ill., May 1 /PRNewswire-FirstCall/ -- Federal Signal Corporation reported income from continuing operations of $1.1 million, or $0.02 per share, for the first quarter of 2009 on revenue of $204 million. For the same period of 2008, the Company earned $4.1 million from continuing operations, or $0.09 per share, on revenue of $226 million. The year-over-year first quarter income reduction is primarily the result of volume reductions at the Environmental Solutions Group and the Safety and Security Systems Group, offset somewhat by revenue and margin improvement in the Fire Rescue Segment, lower overhead costs and lower interest expense. First quarter revenue declined 10% versus last year, due in part to a 4% negative currency impact.

    The Company recorded net income including discontinued operations of $1.0 million in the first quarter of 2009 compared to a net loss of $84.9 million in the prior year period. The net loss in 2008 was associated with the discontinuations of the unprofitable E-ONE business and the non-strategic and cyclical Tool Group business, both of which were sold in 2008.

    Cash flow from continuing operations for the first three months of 2009 totaled $6.4 million, a $13.1 million improvement versus the prior year, primarily due to improved working capital management. The Company had $20 million of cash and CDs and $128 million of availability under its revolving credit agreement at the end of the quarter.

    William H. Osborne, president and chief executive officer, stated, "I am pleased to report that we were able to generate a profit in the first quarter despite the extremely challenging economic environment. Our management teams have worked hard to reduce our fixed cost structure, which is a key part of our strategy to reduce overall costs and increase margins. We reduced our overhead costs - fixed manufacturing costs and SG&A - by $4 million in the quarter. We are well on our way to achieving our cost reduction targets, and we remain committed to continuing to improve the company's operational and financial performance."

    Mr. Osborne continued, "In addition, we continued to see growth in some of our key public safety businesses, as our PIPS automated license plate recognition (ALPR) cameras and warning systems business both generated double-digit revenue increases in the quarter. We begin the second quarter with an order backlog of $273 million, and are beginning to see some preliminary signs of stability in some of our markets. Although first quarter orders were down 29% versus last year, March orders were down only 8%, and we saw order increases in March for some of our businesses. With strong brands, a global presence and leadership positions in most of our markets, the company is well positioned to benefit from an improvement in the global economy."

    GROUP RESULTS Safety and Security Systems -- Orders declined 21% from 2008 to $76.1 as a result of the global economic recession and unfavorable currency effects. Orders for the month of March were down 6% versus 2008. -- Net sales were down 16% to $76.2 million due to low order intake and unfavorable foreign currency effects of 4%. -- Operating income was $6.1 million, with an 8% operating margin in the quarter. Operating Income declined $2.2 million versus 2008, driven by lower sales volumes and unfavorable currency effects, partially offset by SG&A cost reductions of $3 million, or 14% in the first quarter. Fire Rescue -- Q1 orders were down $36.9 million, to $20.8 million. The economic weakness impacted orders across markets in the current quarter, while 2008 order demand was at record levels in all segments. A strong order backlog of $128 million at the end of Q1 will provide revenue stability in 2009. -- Net sales were up 41%, or $9.4 million, over the prior year as a result of a strong order backlog and the completion in late 2008 of a factory expansion that allowed for higher volumes. This increase is net of an 18% unfavorable currency effect. -- Operating income more than tripled in the quarter to $2.4 million. Operating margin increased from 3.0% in Q1 2008 to 7.4% in Q1 2009 as a result of higher volumes coupled with efficiencies associated with the plant expansion. Environmental Solutions -- Orders declined 17%, to $80.3 million from first quarter 2008 largely as a result of the reduction in orders for industrial vacuum trucks. However, orders in March were down only 1%. Orders in the U.S. municipal markets and non-U.S. markets were relatively flat compared to the prior year, with improvement towards the latter part of the quarter. Q1 orders for sweepers increased versus Q1 2008. -- Net sales were down 16% to $94.8 million primarily due to lower shipments of sweepers and sewer cleaners. -- Q1 operating income was $3.1 million. Lower sales volumes translated into a $6.4 million decline in operating income. The lower volumes were partially offset by $2 million lower costs for fixed manufacturing and SG&A inclusive of a $0.9 million charge for severance costs in 2009. Other -- First quarter corporate expenses totaled $6.0 million, a reduction of $1.3 million from 2008, partially due to a reduction of $0.6 million in legal costs associated with the Company's ongoing hearing loss litigation. In addition, the first quarter of 2008 included a $1.5 million charge relating to a contract dispute for the Dallas Fort Worth airport project. The year-on-year corporate expense favorability was somewhat mitigated by proxy solicitation costs of $0.6 million. -- Interest expense was down $1.8 million in first quarter of 2009 due to lower interest rates and lower average borrowings in the quarter. -- The effective tax rate on income from continuing operations was 12.3%, or $0.2 million, compared to an expense of 27.6%, or $1.6 million for the first quarter of 2008. The benefit in 2009 is due to the resolution of an IRS audit of the 2006 tax year. In addition, the effective tax rate for Q1 2009 includes research and development tax credit benefits which did not exist in 2008. CONFERENCE CALL

    Federal Signal will host its first quarter conference call on Friday, May 1, 2009 at 11:00 a.m. Eastern Time. The call will last approximately one hour. The call may be accessed over the internet through Federal Signal's website at http://www.federalsignal.com/. A replay will be available on Federal Signal's website shortly after the call.

    About Federal Signal

    Federal Signal Corporation enhances the safety, security and well-being of communities and workplaces around the world. Founded in 1901, Federal Signal is a leading global designer and manufacturer of products and total solutions that serve municipal, governmental, industrial and institutional customers. Headquartered in Oak Brook, Ill., with manufacturing facilities worldwide, the Company operates three groups: Safety and Security Systems, Environmental Solutions and Fire Rescue. For more information on Federal Signal, visit: http://www.federalsignal.com/.

    This release contains unaudited financial information and various forward-looking statements as of the date hereof and we undertake no obligation to update these forward-looking statements regardless of new developments or otherwise. Statements in this release that are not historical are forward-looking statements. Such statements are subject to various risks and uncertainties that could cause actual results to vary materially from those stated. Such risks and uncertainties include but are not limited to: economic conditions in various regions, product and price competition, supplier and raw material prices, foreign currency exchange rate changes, interest rate changes, increased legal expenses and litigation results, legal and regulatory developments and other risks and uncertainties described in filings with the Securities and Exchange Commission.

    FEDERAL SIGNAL CORPORATION (NYSE) Consolidated Financial Data For the First Quarter 2009 and 2008 (Unaudited) (in millions except per share data) YTD YTD Mar 31 Mar 31 Quarter March 31: 2009 2008 ---- ---- Net Sales $203.5 $226.4 Cost of sales (152.9) (168.2) Operating expenses (45.0) (47.0) ---- ---- Operating income 5.6 11.2 Interest expense (3.3) (5.1) Loss on investment in joint venture (0.9) (0.6) Other (expense) income (0.1) 0.2 ---- ---- Income before income taxes 1.3 5.7 Income tax expense (0.2) (1.6) ---- ---- Income from continuing operations 1.1 4.1 Loss from discontinued operations and disposal, net of tax (0.1) (89.0) ----- ----- Net income (loss) $1.0 $(84.9) ===== ===== Gross margin on revenues 24.9% 25.7% Operating margin on revenues 2.8% 4.9% Effective Tax Rate 12.3% 27.6% Diluted earnings per share: Income from continuing operations $0.02 $0.09 Loss from discontinued operations and disposal (1.86) ---- ---- Diluted earnings (loss) per share $0.02 $(1.77) ---- ---- Average common shares outstanding 48.0 47.9 YTD YTD Mar 31 Mar 31 Group results: 2009 2008 ---- ---- Safety and Security Systems Group: Orders $76.1 $95.9 Net Sales 76.2 90.8 Operating Income 6.1 8.3 Operating Margin 8.0% 9.1% Backlog $52.6 $67.0 Fire Rescue Group: Orders $20.8 $57.7 Net Sales 32.5 23.1 Operating Income 2.4 0.7 Operating Margin 7.4% 3.0% Backlog $128.4 $178.8 Environmental Solutions Group: Orders $80.3 $97.1 Net Sales 94.8 112.5 Operating Income 3.1 9.5 Operating Margin 3.3% 8.4% Backlog $92.2 $122.6 Corporate operating expenses $(6.0) $(7.3) ---- ---- Total Operating Income $5.6 $11.2 ===== ===== FEDERAL SIGNAL CORPORATE AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) Mar 31 Dec 31 ($in millions) 2009 2008 ---- ---- ASSETS Current assets Cash and cash equivalents $9.7 $23.4 Short-term investments 10.0 10.0 Accounts receivable, net of allowances for doubtful accounts of $2.2 million and $2.0 million, respectively 145.0 153.2 Inventories 143.5 137.1 Other current assets 24.4 21.6 ---- ---- Total current assets 332.6 345.3 Properties and equipment, net 66.3 65.4 Other assets Goodwill, net of accumulated amortization 326.5 328.1 Intangible assets, net 46.7 47.8 Deferred tax assets 25.5 30.3 Deferred charges and other assets 4.5 4.4 ---- ---- Total assets 802.1 821.3 Assets of discontinued operations 13.2 12.7 ---- ---- Total assets $815.3 $834.0 ===== ===== LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Short-term borrowings $1.2 $12.6 Current portion of long-term borrowings 26.1 25.1 Accounts payable 58.6 56.4 Accrued Liabilities Compensation and withholding taxes 20.7 25.1 Customer deposits 18.1 17.4 Other 51.8 49.8 ---- ---- Total current liabilities 176.5 186.4 Long-term borrowings 239.8 241.2 Long-term pension liabilities 54.2 58.0 Deferred gain 25.7 26.2 Other long-term liabilities 13.8 13.3 ---- ---- Total liabilities 510.0 525.1 Liabilities of discontinued operations 19.1 24.4 ---- ---- Total liabilities 529.1 549.5 Shareholders' equity Common stock, $1 par value per share, 90.0 million shares authorized, 49.5 million and 49.3 million shares issued, respectively 49.5 49.3 Capital in excess of par value 91.2 106.4 Retained earnings 224.5 226.4 Treasury stock, 0.8 million and 1.9 million shares at cost, respectively (15.8) (36.1) Accumulated Other Comprehensive loss Foreign currency translation, net (6.5) (4.1) Net derivative loss, cash flow hedges, net (0.6) (0.9) Unrecognized pension and postretirement losses, net (56.1) (56.5) ---- ---- Total (63.2) (61.5) ---- ---- Total shareholders' equity 286.2 284.5 ---- ---- Total liabilities and shareholders' equity $815.3 $834.0 ===== ===== Supplemental data: Debt $267.1 $278.9 Debt-to-capitalization ratio: 48.3% 49.5% Net Debt/Cap Ratio 46.4% 46.3% Net Debt/Cap Ratio = debt-to-capitalization ratio, net of cash FEDERAL SIGNAL CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) For the Quarter Ended March 31, ---------- 2009 2008 ---- ---- ($in millions) Operating activities Net income (loss) $1.0 $(84.9) Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: Loss on discontinued operations and disposal 0.1 89.0 Loss on investment in joint venture 0.9 0.6 Depreciation and amortization 3.9 4.3 Stock based compensation expense 1.1 1.1 Pension contributions (0.5) (0.4) Working capital (1) 1.6 (12.2) Other (1.7) (4.2) ---- ---- Net cash provided by (used for) continuing operating activities 6.4 (6.7) Net cash provided by discontinued operating activities 1.4 18.0 ---- ---- Net cash provided by operating activities 7.8 11.3 Investing activities Purchases of properties and equipment (3.8) (7.7) ---- ---- Net cash used for continuing investing activities (3.8) (7.7) Net cash provided by (used for) discontinued investing activities 2.9 (0.9) ---- ---- Net cash used for investing activities (0.9) (8.6) Financing activities Decrease in short-term borrowings, net (11.4) (2.5) (Payments on) proceeds from long-term borrowings, net (0.1) 14.5 Cash dividends paid to shareholders (2.9) (2.9) Other, net 0.2 (0.8) ---- ---- Net cash (used for) provided by continuing financing activities (14.2) 8.3 ---- ---- Net cash used for discontinued financing activities (6.4) (15.4) ---- ---- Net cash used for financing activities (20.6) (7.1) ---- ---- Effects of foreign exchange rate changes on cash - 0.9 Decrease in cash and cash equivalents (13.7) (3.5) Cash and cash equivalents at beginning of year 23.4 12.5 ---- ---- Cash and cash equivalents at end of period $9.7 $9.0 ===== ===== (1) Working capital is composed of net accounts receivable, inventories, accounts payable and customer deposits.

    Federal Signal Corporation

    CONTACT: William Barker of Federal Signal Corporation, +1-630-954-2000,
    wbarker@federalsignal.com

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




    FiberNet to Open the NASDAQ Stock Market

    NEW YORK, May 1 /PRNewswire-FirstCall/ -- FiberNet Telecom Group, Inc. , a leading provider of complex interconnection services, announced today that its Board of Directors and senior management team will open the NASDAQ stock market on Friday, May 8, 2009, at 9:30am EDT. President & CEO Jon A. DeLuca will preside over the NASDAQ Opening Bell, which will take place at the NASDAQ MarketSite(R) in New York's Times Square.

    The NASDAQ Stock Market invited FiberNet to the Opening Bell ceremony in honor of its 10th year in business. FiberNet's shares have been trading on NASDAQ since 2000.

    "It is an honor to mark FiberNet's 10th year by ringing the opening bell at the NASDAQ MarketSite," said Mr. DeLuca. "I am delighted to share the podium on May 8th with the other members of our executive team, and we appreciate NASDAQ for recognizing this milestone."

    The Opening Bell ceremony will be broadcast live on the seven-story NASDAQ tower, the largest stationary video screen in the world, and it will also be viewable via the FiberNet website located at http://www.ftgx.com/.

    About FiberNet Telecom Group, Inc.

    Celebrating its 10 year anniversary, FiberNet Telecom Group, Inc. owns and operates integrated interconnection facilities and diverse transport routes in the gateway markets of New York/New Jersey, Los Angeles, Chicago and Miami, designed to provide comprehensive broadband interconnectivity enabling the exchange of traffic over multiple networks. FiberNet's customized connectivity infrastructure provides an advanced, high bandwidth, fiber-optic solution to support the demand for network capacity and to facilitate the interconnection of multiple carriers' and customers' networks. For additional information about FiberNet, visit the company's website at http://www.ftgx.com/.

    Various remarks that we may make about FiberNet's future expectations, plans and prospects constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Such remarks are valid only as of today, and we disclaim any obligation to update this information. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in FiberNet's most recent Annual Report on Form 10-K, which is on file with the Securities and Exchange Commission.

    FiberNet Telecom Group, Inc.

    CONTACT: Norma I. Salcido, FiberNet Telecom Group Inc., +1-212-405-6210,
    norma.salcido@ftgx.com

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




    Digital Ally, Inc. to Host First Quarter Conference Call on May 1, 2009

    OVERLAND PARK, Kan., April 23 /PRNewswire-FirstCall/ -- Digital Ally, Inc. , which develops, manufactures and markets advanced digital technology products for law enforcement, homeland security and commercial security applications, today announced that the Company will host an investor conference call to discuss its operating results for the first quarter of 2009 at 11:00 a.m. Eastern Time (EDT) on Friday, May 1, 2009. The Company will release its first quarter operating results after the market closes on Thursday April 30, 2009.

    Shareholders and other interested parties may participate in the conference call by dialing 800-860-2442 (international/local participants dial 412-858-4600) and asking to be connected to the "Digital Ally, Inc. Conference Call" a few minutes before 11:00 a.m. EDT on May 1, 2009. The call will also be broadcast live on the Internet at http://www.videonewswire.com/event.asp?id=58157.

    A replay of the conference call will be available one hour after the completion of the conference call from May 1, 2009 until 5:00 p.m. on Wednesday July 1, 2009 by dialing 877-344-7529 (international/local participants dial 412-317-0088) and entering the conference ID 430059.

    The call will also be archived on the Internet through May 8, 2009 at http://www.videonewswire.com/event.asp?id=58157 and on the Company's website at http://www.digitalallyinc.com/.

    About Digital Ally, Inc.

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

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

    For Additional Information, Please Contact: RJ Falkner & Company, Inc., Investor Relations Counsel at (830) 693-4400 or via email at info@rjfalkner.com

    Digital Ally, Inc.

    CONTACT: Investor Relations Counsel of RJ Falkner & Company, Inc.,
    +1-830-693-4400, info@rjfalkner.com, for Digital Ally, Inc.

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




    Consolidated Graphics Will Hold a Conference Call to Discuss the Company's Fourth Quarter and Full Year 2009 Financial Results

    HOUSTON, May 1 /PRNewswire-FirstCall/ -- Consolidated Graphics, Inc. today announced that it will hold a conference call on Wednesday, May 6, 2009 to discuss the Company's financial results for its fiscal fourth quarter and year ended March 31, 2009.

    The conference call and live webcast will begin at 10:00 a.m. Central Time/11:00 a.m. Eastern Time. An archive of the webcast will be available approximately one hour after the live call. To access the live webcast or archive, please visit http://www.cgx.com/.

    Consolidated Graphics, Inc. (CGX), headquartered in Houston, Texas, is one of North America's leading general commercial printing companies. With 70 printing businesses strategically located across 27 states, Canada, and in Prague, we offer an unmatched geographic footprint, unsurpassed capabilities, and unparalleled levels of convenience, efficiency and service. With locations in or near virtually every major U.S. market, CGX provides service and responsiveness of a local printer enhanced by the economic, geographic and technological advantages of a large national organization.

    Consolidated Graphics' vast and technologically advanced sheetfed and web printing capabilities are complemented by the largest integrated digital footprint of any commercial printer in the U.S. By coupling North America's most comprehensive printing capabilities with strategically located fulfillment centers and industry-leading technology, CGX delivers solutions that create a spectrum of value for customers. CGX offers the unique ability to respond to all printing-related needs no matter how large, small, specialized or complex. For more information, visit http://www.cgx.com/.

    Consolidated Graphics, Inc.

    CONTACT: Jon C. Biro, Executive Vice President/Chief Financial Officer,
    Consolidated Graphics, Inc., +1-713-787-0977; Christine Mohrmann or Alexandra
    Tramont, FD, +1-212-850-5600

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




    Global Payments Announces Third Quarter Dividend

    ATLANTA, May 1 /PRNewswire-FirstCall/ -- Global Payments Inc. , a leader in electronic transaction payment processing, announced today that its board of directors approved a third quarter dividend of $0.02 per common share payable May 29, 2009 to shareholders of record as of May 15, 2009.

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

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

    Global Payments Inc.

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

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




    RDM Corporation reports second quarter resultsToronto Stock Exchange Symbol: RC

    WATERLOO, ON, May 1 /PRNewswire-FirstCall/ -- RDM Corporation (TSX: RC), a leading provider of solutions for the electronic commerce and payment processing markets, today reported its financial results for the three month period ended March 31, 2009.

    Q2 2009 Highlights - Total revenues were $5.8 million in the second quarter of fiscal 2009, compared to $6.8 million in the second quarter of 2008. - Payment Processing Services segment revenues, which are recurring in nature, were $2.6 million in Q2 2009, compared to $1.4 million a year earlier. - Transaction volumes for RDM's Image & Transaction Management System (ITMS(R)) averaged 3.6 million items per week during the second quarter, compared to 2.5 million items per week a year earlier, and 3.3 million items per week during Q1 2009. - ITMS(R) end user locations grew from 15,900 to 17,000 during the second quarter. - RDM added three additional bank distributors and 12 new independent sales organizations (ISOs) during the quarter. - Gross profit was $2.6 million or 45% of revenues, compared to $2.5 million or 37% of revenues in the second quarter of 2008. - Net loss was $0.9 million or $0.04 per share (fully diluted) in Q2 2009 which was due largely to a $0.6 million foreign exchange loss. This compares to a net loss of $0.3 million or $0.01 per share in Q2 2008. - Operating activities generated $252,000 of positive cash flow, while $652,000 of cash was used for capital expenditures and the repurchase of shares. Cash and equivalents at March 31, 2009 were $16.9 million, compared to $17.3 million at the end of the prior quarter.

    "I am encouraged by the continued momentum of our recurring revenue ITMS business," said Douglas Newman, President and CEO of RDM Corporation. "Despite the difficult economic environment, our average transaction volumes and total end user locations are both up nearly 50% compared to the prior year. We recently reached an important milestone by processing one million transactions in a single day."

    Mr. Newman continued: "Overall results for the quarter were suppressed by disappointing scanner sales caused by the economic downturn. We plan to be prudent in managing our costs during this time of uncertainty, but our priority is to position the Company to capitalize on the long-term remote deposit capture opportunity, which I believe remains compelling."

    Financial Review

    RDM generated total revenues of $5.8 million in the three months ended March 31, 2009, a decrease of $1.0 million from the second quarter of fiscal 2008. The strengthening of the U.S. dollar during the quarter resulted in a $1.1 million favourable impact on reported revenues. Payment Processing Services segment revenues increased by $1.2 million or 81% to $2.6 million, driven by growth in ITMS transaction volumes and end users as well as the change in currency exchange rates. Revenues in the Digital Imaging Products segment decreased by $1.8 million to $2.4 million due to a reduction in scanner shipments. The Electronic Payments Solutions segment and the Quality Assurance segment, which represented a combined 13% of total revenues in the second quarter, generated revenues of $0.5 million and $0.2 million, respectively, compared to $0.8 million and $0.4 million, respectively, in the second quarter of 2008.

    Gross profit increased to $2.6 million in the second quarter of 2009 from $2.5 million in the comparable period of fiscal 2008. Expressed as a percentage of revenues, gross margin was 45%, compared to 37% in the Q2 2008. Increased margins were due to the favourable impact of exchange rates and a change in product mix to include a higher proportion of payment processing recurring revenue. Gross profit in the Payment Processing Services segment grew to $1.2 million in the second quarter from $465,000 a year earlier. The segment generated an operating loss of $162,000, compared to a loss of $655,000 in Q2 2008. This improvement in operating earnings was realized even as the Company invested an additional $248,000 in sales and marketing efforts focused on signing new ITMS banks and ISO resellers.

    Total sales and marketing expense increased $70,000 to $1.2 million in Q2 2009, with efforts focused primarily on the rapidly growing Payment Processing Services segment. Research and development expenses increased $149,000 to $1.1 million as the Company continued to invest in new product development. General and administration expenses decreased $68,000 to $430,000.

    RDM recognized a $563,000 foreign exchange loss in the second quarter of 2009, an increase of $350,000 compared to the amount recognized a year earlier. The foreign exchange loss was due to the impact of a shift in exchange rates during the quarter on forward contracts held by the Company as economic hedges, partially offset by a gain in U.S. denominated monetary assets.

    Net loss was $865,000 in the second quarter of 2009, or $0.04 per share, compared to a net loss of $269,000 or $0.01 per share a year earlier. RDM repurchased 254,000 shares in the second quarter under its Normal Course Issuer Bid. At March 31, 2009, the Company had 20.9 million common shares outstanding.

    Conference Call

    RDM will be hosting a conference call to discuss the Company's first quarter financial results on May 1, 2009 at 9:00 a.m. EDT. Dial-in numbers are 416-644-644-3419 or 1-800-731-6941. The call will be webcast live and archived at http://www.rdmcorp.com/. Detailed financial results and Management's Discussion and Analysis will be filed on http://www.sedar.com/.

    About RDM Corporation

    RDM Corporation is headquartered in Waterloo, Ontario and trades on the Toronto Stock Exchange under the symbol RC. RDM is a leading provider of specialized software and hardware products for electronic payment processing. RDM has pioneered electronic check conversion systems and web based image and transaction management services for banks, retailers, payment processors and government agencies as well as print quality control and image quality systems for a variety of global customers. For further information, visit RDM's website at http://www.rdmcorp.com/.

    This news release contains forward-looking statements. Forward-looking statements are based on estimates and assumptions made by RDM in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that RDM believes are appropriate in the circumstances. Many factors could cause RDM's actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements. Risk factors relating to RDM are discussed in the Risks and Uncertainties section of RDM's Annual Information Form and year-end Management's Discussion and Analysis. These factors should be considered carefully, and readers should not place undue reliance on RDM's forward-looking statements. RDM has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    RDM CORPORATION Consolidated Balance Sheets (Amounts In Canadian Dollars, In Thousands) ------------------------------------------------------------------------- March September 31, 2009 30, 2008 Unaudited Audited ------------------------------------------------------------------------- Assets: Current assets: Cash and cash equivalents $ 16,864 $ 17,421 Accounts receivable 4,811 4,929 Inventories 5,313 6,325 Investment tax credit receivable 1,669 1,703 Other 817 1,087 ------------------------------------------------------------------------- Total current assets 29,474 31,465 Furniture and equipment 3,176 2,893 Intangible assets 315 278 ------------------------------------------------------------------------- Total assets $ 32,965 $ 34,636 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Liabilities and shareholders' equity: Current liabilities: Accounts payable and accrued liabilities $ 5,915 $ 4,945 Deferred revenue 624 631 ------------------------------------------------------------------------- Total current liabilities 6,539 5,576 Future income tax liability 127 201 Shareholders' equity: Share capital 28,005 28,338 Contributed surplus 1,419 1,162 Retained earnings (deficit) (3,125) (641) ------------------------------------------------------------------------- Total shareholders' equity 26,299 28,859 ------------------------------------------------------------------------- Total liabilities and shareholders' equity $ 32,965 $ 34,636 ------------------------------------------------------------------------- ------------------------------------------------------------------------- RDM CORPORATION Consolidated Statements of Operations and Deficit (Amounts in Canadian Dollars, In Thousands, Except Per Share Amounts) Three months ended Six months ended March March 2009 2008 2009 2008 (Unaudited) (Unaudited) (Unaudited) (Unaudited) ------------------------------------------------------------------------- Revenue $ 5,782 $ 6,823 $ 12,870 $ 13,894 Cost of revenue 3,209 4,286 7,341 8,700 ------------------------------------------------------------------------- Gross Profit 2,573 2,537 5,529 5,194 Operating expenses: Sales and marketing 1,221 1,151 2,646 2,295 Research and development 1,094 945 2,165 1,959 General and administration 430 498 916 887 Depreciation and amortization 62 61 122 116 Stock-based compensation 113 136 257 257 Foreign exchange loss (gain) 563 213 2,011 284 Interest Income (45) (128) (104) (331) ------------------------------------------------------------------------- 3,446 2,876 8,013 5,476 ------------------------------------------------------------------------- Earnings (loss) before income taxes (865) (339) (2,484) (273) Future Income Tax expense (recovery) - (70) - 5 ------------------------------------------------------------------------- Net earnings (loss) and comprehensive earnings (loss) (865) (269) (2,484) (268) ------------------------------------------------------------------------- ------------------------------------------------------------------------- Earnings (loss) per share - basic and diluted $ (0.04) $ (0.01) $ (0.12) $ (0.01) ------------------------------------------------------------------------- ------------------------------------------------------------------------- RDM CORPORATION Consolidated Statements of Cash Flows (Amounts in Canadian Dollars, In Thousands) Three months ended Six months ended March March 2009 2008 2009 2008 (Unaudited) (Unaudited) (Unaudited) (Unaudited) ------------------------------------------------------------------------- Cash provided by (used in): Operations: Net earnings (loss) Items not involving cash: $ (865) $ (269) $ (2,484) $ (268) Amortization of furniture and equipment 237 165 449 344 Amortization of intangible assets 11 11 23 19 Stock-based compensation 113 136 257 257 Future income taxes - (70) (74) (5) Change in non-cash operating working capital 756 489 2,397 1,173 ------------------------------------------------------------------------- Cash provided by (used in) operations 252 462 568 1,520 Financing: Issuance of share capital; net of issue costs - 321 - 321 Repayment of share purchase loans - 8 - 16 ------------------------------------------------------------------------- Cash provided by financing activities - 329 - 337 Investing: Repurchase of share capital (173) - (333) - Purchase of furniture and equipment (458) (883) (732) (1,367) Additions to intangible assets (21) (56) (60) (58) ------------------------------------------------------------------------- Cash used in investing activities (652) (939) (1,125) (1,425) Increase (decrease) in cash and cash equivalents (400) (148) (557) 432 Cash and cash equivalents, beginning of period 17,264 17,998 17,421 17,418 ------------------------------------------------------------------------- Cash and cash equivalents, end of period $ 16,864 $ 17,850 $ 16,864 $ 17,850 ------------------------------------------------------------------------- -------------------------------------------------------------------------

    RDM Corporation

    CONTACT: Douglas Newman, President and CEO, RDM Corporation, (519)
    746-8483 ext. 340 phone, (519) 746-3317 fax, dnewman@rdmcorp.com; James
    Merwin, CFO, RDM Corporation, (519) 746-8483 ext. 284 phone, (519) 746-3317
    fax, jmerwin@rdmcorp.com




    Comarco Reports Fiscal 2009 Fourth Quarter and Full Year Financial ResultsConference Call Today at 11:00 a.m. Eastern Time

    LAKE FOREST, Calif., May 1 /PRNewswire-USNewswire/ -- Comarco, Inc. today announced its financial results for the fourth quarter and full fiscal year ended January 31, 2009. As previously announced, Comarco sold its call box business during the second quarter of fiscal 2009 and its Wireless Test Solutions ("WTS") business during the fourth quarter of fiscal 2009. In accordance with Statement of Financial Accounting Standard No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets, the results of the call box business and WTS business are now presented as discontinued operations for all periods presented below.

    "We made excellent progress during fiscal 2009 executing on our strategic plan," said Sam Inman, President and Chief Executive Officer of Comarco. "We completed the sales of our call box and WTS businesses, introduced our new ChargeSource(R) cost-optimized 'slim and light' universal power adapter, established a strong relationship with Lenovo, and recently entered into a significant exclusive supply agreement with Targus Group, a leading retail distributor of mobile computing products worldwide. We also made progress in rationalizing our manufacturing costs and expense structure and strengthening our financial flexibility. These accomplishments have positioned us very well for the next phase of our strategy."

    "Over the next fiscal year, Comarco will focus on building our worldwide retail presence through Targus, expanding our relationship with Lenovo, and continuing to pursue another win in the OEM marketplace," continued Mr. Inman. "With sufficient cash, $5 million of potential borrowings under our credit facility, and no debt, we believe we have the resources that position us well to pursue our plans. As we ramp up our expected product shipments to Targus and Lenovo in the coming months, we anticipate a meaningful rise in revenue and an improved bottom-line compared to fiscal 2009."

    Revenue for the fourth quarter of fiscal 2009, which includes only the ChargeSource operation, was $3.3 million compared with $2.5 million for the fourth quarter of fiscal 2008. The Company reported a net loss from continuing operations of $0.4 million or $(0.05) per share for the recent fourth quarter compared with a net loss from continuing operations of $3.7 million or $(0.50) per share, for the fourth quarter of the prior fiscal year. The Company reported net income of $3.2 million, or $0.44 per share, for the fiscal 2009 fourth quarter compared with a net loss of $3.6 million, or $(0.49) per share, for the fourth quarter of the prior fiscal year. Included in the results for the fiscal 2009 fourth quarter was income from discontinued operations, net of tax, of $3.6 million. During the fourth quarter of the 2009 fiscal year, the Company reclassified approximately $0.9 million of legal fees relating to the sale of WTS from selling, general and administrative expenses to offset the gain recorded upon completion of the sale during the fourth quarter, presented in income from discontinued operations.

    For the full fiscal year 2009, revenue, which includes only the ChargeSource operation, totaled $13.5 million compared with $5.4 million in fiscal 2008. The Company reported a net loss from continuing operations of $9.7 million or $(1.32) per share for the recent fiscal year compared with a net loss from continuing operations of $10.2 million or $(1.38) per share, for the prior fiscal year. The net loss for fiscal 2009 was $4.5 million or $(0.61) per share versus a net loss of $10.0 million, or $(1.36) per share, for fiscal 2008. The Company had $14.1 million in cash and no long-term debt at January 31, 2009.

    Forward-Looking Information

    This news release includes "forward-looking statements" that are subject to risks, uncertainties, and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements, including, but not limited to, our statements about having the resources necessary to pursue our plans and an anticipated rise in revenue and improved bottom-line. Forward-looking statements in this release are generally identified by words such as "believes," "anticipates," "plans," "expects," "will," "would," and similar expressions that are intended to identify forward-looking statements. A number of important factors could cause our results to differ materially from those indicated by these forward-looking statements, including, among others, the impact of general economic and retail uncertainty and perceived or actual weakening of economic conditions on customers' and prospective customers' spending on our products and services; quarterly and seasonal fluctuations in our revenue or other operating results; fluctuations in the demand for our products and the fact that a significant portion of our revenue is derived from a limited number of customers; unexpected difficulties and delays associated with our efforts to obtain cost reductions and achieve higher sales volumes for our ChargeSource(R) products; failure to accurately forecast customer demand and the risk that our customers may cancel their orders, change production quantities or delay production; the fact that our products are complex and have short life cycles and the average selling prices of our products will likely decrease over their sales cycles; disruptions in our relationships with our suppliers; failure to meet financial expectations of analysts and investors, including failure from significant reductions in demand from earlier anticipated levels, risks related to market acceptance of our products and our ability to meet contractual and technical commitments with our customers; activities by us and others regarding protection of intellectual property; and competitors' release of competitive products and other actions. Further information on potential factors that could affect our financial results are included in risks detailed from time to time in our Securities and Exchange Commission filings, including without limitation our annual report of Form 10-K for the year ended January 31, 2009.

    Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither any other person nor we assume responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

    Earnings Conference Call

    Comarco will host a conference call to discuss the financial results for the fiscal fourth quarter and full year ended January 31, 2009 and current corporate developments at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) today, May 1, 2009. The dial-in number to access the conference call is (877) 941-2333 for domestic callers or (480) 629-9723 for international callers. A live Webcast will also be made available at http://www.comarco.com/. A replay will be available approximately one hour after the call for 7 days following the call's conclusion. To access the replay, dial (800) 406-7325 for domestic callers or (303) 590-3030 for international callers, both using passcode 4060811#. A Web archive will be made available at http://www.comarco.com/ following the call's conclusion.

    About Comarco

    Based in Lake Forest, Calif., Comarco is a leading provider of universal mobile power products used to power and charge notebook computers, mobile phones, and many other rechargeable mobile devices. The Company's Web sites can be found at http://www.comarco.com/ and http://www.chargesource.com/.

    COMARCO, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) Three Months Ended Year Ended January 31, January 31, (Unaudited) (A) 2009 2008 2009 2008 Revenue $3,307 $2,454 $13,521 $5,434 Cost of revenue 4,667 3,458 15,089 7,602 Gross loss (1,360) (1,004) (1,568) (2,168) Selling, general and administrative expenses 645 2,079 8,776 6,905 Engineering and support expenses 736 899 2,843 2,642 Operating loss (2,741) (3,982) (13,187) (11,715) Other income, net 7 143 113 842 Loss from continuing operations before income taxes $(2,734) $(3,839) $(13,074) $(10,873) Income tax benefit 2,326 145 3,375 707 Net loss from continuing operations $(408) $(3,694) $(9,699) $(10,166) Income from discontinued operations, net of tax 3,607 128 5,234 182 Net income (loss) $3,199 $(3,566) $(4,465) $(9,984) Basic and diluted income (loss) per share: Net loss from continuing operations $(0.05) $(0.50) $(1.32) $(1.38) Net income from discontinued operations 0.49 0.01 0.71 0.02 $0.44 $(0.49) $(0.61) $(1.36) Weighted average common shares outstanding: Basic 7,327 7,327 7,327 7,338 Diluted 7,327 7,327 7,327 7,338 Common shares outstanding 7,327 7,327 7,327 7,327 (A) Derived from the audited consolidated financial statements. COMARCO, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) January 31, January 31, 2009 (A) 2008 (A) ASSETS Current Assets: Cash and cash equivalents $14,144 $17,011 Short-term investments - 336 Accounts receivable, net 4,145 1,746 Inventory, net 1,232 439 Current assets of discontinued operations - 7,061 Other current assets 691 682 Total current assets 20,212 27,275 Property and equipment, net 1,279 2,225 Restricted cash 77 250 Non-current assets of discontinued operations - 2,831 $21,568 $32,581 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $1,501 $651 Deferred revenue 77 43 Deferred compensation - 336 Current liabilities of discontinued operations - 4,739 Accrued liabilities 3,092 3,783 Total current liabilities 4,670 9,552 Tax liability: FIN 48 86 86 Deferred rent 182 573 Non-current liabilities of discontinued operations - 1,552 Deferred revenue 9 3 Total liabilities 4,947 11,766 Stockholders' equity 16,621 20,815 $21,568 $32,581 (A) Derived from the audited consolidated financial statements.

    Comarco, Inc.

    CONTACT: Company, Sam Inman, President and CEO, +1-949-599-7444,
    saminman@comarco.com, or Winston Hickman, VP and CFO, +1-949-599-7446,
    whickman@comarco.com, both of Comarco, Inc.; or Investors, Douglas Sherk, CEO,
    dsherk@evcgroup.com, or Jenifer Kirtland, Senior Vice President, both of EVC
    Group, Inc., +1-415-896-6820, both for Comarco, Inc.

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




    TheGreektrader.com Goes Live!!!!!!!TheGreektrader.com, Inc. a subsidiary of Zealous Inc. opens Virtual online doors May 1st at 12am. TheGreektrader.com to offer unique products from around the world.

    TUSTIN, Calif., May 1 /PRNewswire/ -- On May 1, 2009, TheGreektrader.com, Inc., a wholly owned subsidiary of Zealous Inc. (BULLETIN BOARD: ZLUSE) , launched its Flagship Online website http://www.thegreektrader.com/ Friday at 12am PDT. The website, which is now operational, is a retailer of unique products from around the world. The company expects to add new products daily as the site expands, choosing items that feature either a special functionality or aesthetic appeal.

    "TheGreektrader.com is now real and running live. All the subsidiaries of Zealous are in place to grow the company. Health and Wellness is distributing and building its direct sales force. Zealous Interactive is on TV and the Internet with direct response ads and programming. TheGreektrader.com is currently signing up new members and selling products. The combination of all three subsidiaries up and running sets the stage for our sales growth and viability," explains Milton "Todd" Ault III Chairman, CEO and President of Zealous Inc., of the parent company.

    About Zealous Inc.

    Zealous Inc. is a holding company which operates through its four subsidiaries, the newest subsidiary being TheGreektrader.com, Inc. The remaining three subsidiaries are Zealous Interactive Inc., Health and Wellness Partners, Inc., and Zealous Holdings, Inc. Zealous Interactive Inc. is an online distribution and content management company with over 1,200 URLs and websites. Health and Wellness Partners, Inc. is a distributor of health, energy and vitality products that promote wellness in body, mind and spirit. TheGreektrader.com is an online seller of unique products from around the world. Zealous Holdings, Inc. is a financial services holding company currently involved in Chapter 11 reorganization.

    Forward-Looking Statements

    This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Zealous Inc. plans, expects, should, believes, anticipates or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and quarterly reports on Form 10-Q. These forward-looking statements are only made as of the date of this press release and Zealous, Inc., does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

    TheGreektrader.com, Inc.

    CONTACT: Gary Gottlieb, +1-310-502-3190, info@thegreektrader.com, for
    TheGreektrader.com, Inc.

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




    Ian Austin MP, West Midlands Regional Minister, Visits Goodrich Wolverhampton Facility

    CHARLOTTE, North Carolina, May 1 /PRNewswire/ --

    - Minister reviews facility upgrades in support of new F-35 Lightning II fighter aircraft

    Goodrich Corporation's (NYSE: GR) Actuation Systems facility in Wolverhampton, UK hosted a visit by Ian Austin MP, West Midlands Regional Minister. Austin came to review the status of Goodrich's investment in a new plant to support the production ramp-up for the F-35 Lightning II fighter aircraft.

    Austin viewed the Wolverhampton facility's production areas and received status briefings on Goodrich involvement in the F-35 program. The facility had been awarded a grant of 1.9M pounds Sterling from Advantage West Midlands to upgrade its facility and equipment in support of high-tech advanced manufacturing work required for the F-35.

    Austin said, "The Black Country has a fine tradition of engineering excellence and expertise in the aerospace industry and so it's only natural that Wolverhampton plays a key role in the production of the F-35. I am also delighted that Advantage West Midlands are supporting Goodrich to help them prosper in the region and boosting the very manufacturing skills for which we are rightly famous. These are just the kinds of high-tech, high skilled jobs that we want to see more of in the region."

    Goodrich's Wolverhampton team is producing several key systems for the F-35 including its weapons bay door drive system; this device instantly opens and closes the weapons bay door, allowing weapons held in the aircraft's internal bay to be deployed while maintaining the F-35's stealthy signature.

    The Goodrich site in Wolverhampton comprises roughly 300,000 square feet of manufacturing and office space, and currently employs more than 700 people in disciplines including engineering, manufacturing, and various support functions. The site produces actuation systems for a variety of military and commercial aircraft.

    The F-35 is a supersonic, multi-role, 5th generation stealth fighter. Goodrich provides critical systems for all variants of the F-35 Lightning II -- CTOL (conventional takeoff and landing), CV (carrier variant) and STOVL (short takeoff/vertical landing). In addition to the weapons bay door drive system, other Goodrich content on the F-35 includes actuation systems, landing gear, the air data system, engine and fuel quantity sensors, and unique STOVL engine and airframe components. Production takes place at company facilities in Australia, Canada, the UK and the U.S.

    Goodrich Corporation, a Fortune 500 company, is a global supplier of systems and services to aerospace, defense and homeland security markets. With one of the most strategically diversified portfolios of products in the industry, Goodrich serves a global customer base with significant worldwide manufacturing and service facilities. For more information, visit http://www.goodrich.com.

    Goodrich Corporation operates through its divisions and as a parent company for its subsidiaries, one or more of which may be referred to as "Goodrich Corporation" in this press release.

    GR - Actuation and Landing Systems

    Goodrich Corporation; GR - Actuation and Landing Systems

    Martin Butler, Goodrich Corporation, +44-(0)-121-451-5975




    Ceragon Networks Reports First Quarter 2009 Financial ResultsConference Call at 8:00 a.m. EST

    TEL AVIV, Israel, May 1 /PRNewswire-FirstCall/ -- Ceragon Networks Ltd. (NASDAQ and TASE: CRNT), a leading provider of high-capacity LTE ready wireless backhaul solutions, today reported results for the first quarter which ended March 31, 2009.

    Revenues for the first quarter of 2009 were $43.9 million, down 7% from $47.2 million for the first quarter of 2008 and down 23% from $56.8 million in the fourth quarter of 2008.

    Net income in accordance with US Generally Accepted Accounting Principles (GAAP) for the first quarter of 2009 was $0.2 million or $0.01 per basic and diluted share, compared to net income of $4.3 million in the first quarter of 2008, or $0.12 per basic share and $0.11 per diluted share.

    On a non-GAAP basis, net income for the first quarter, excluding $789,000 of equity-based compensation expenses, was $1.0 million, or $0.03 per basic and diluted share. Non-GAAP net income for the first quarter of 2008 was $4.9 million, or $0.13 per basic and diluted share (please refer to the accompanying financial table for reconciliation of GAAP financial information to non-GAAP).

    Gross margin on a GAAP basis in the first quarter of 2009 was 33.9% of revenues. Gross margin on a non-GAAP basis in the first quarter of 2009 was 34% of revenues.

    Cash and cash investments at the end of the quarter were $93.5 million.

    "Underlying long term growth drivers remain in place and we are encouraged by improving demand from expansion of GSM networks in India to accommodate record subscriber growth as well as signs of improving demand in North America ," said Ira Palti, President and CEO of Ceragon. "At the same time, we are still cautious about the near term outlook due to poor visibility, lengthening sales cycles, and customers' continuing focus on retaining cash. In this environment, our emphasis will continue to be on controlling costs and remaining as flexible as possible in order to react quickly, while preserving our capability to respond effectively when the pace of orders picks up."

    Supplemental revenue breakouts: Geographical breakdown: First quarter 2009 Asia Pacific 31% Europe Middle-East and 31% Africa North America 19% Latin America 19%

    A conference call discussing Ceragon's results for the first quarter of 2009, will take place today, May 1, 2009, at 8:00 a.m. (EST). Investors are invited to join the Company's teleconference by calling 800-230-1074 or international 651-291-5254 at 7:50 a.m. EST. The call-in lines will be available on a first-come, first-serve basis.

    Investors can also listen to the call live via the Internet by accessing Ceragon Networks' website at the investors' page:

    http://www.ceragon.com/ir_events.asp?lang=0 selecting the webcast link, and following the registration instructions. If you are unable to join us live, the replay numbers are: 800-475-6701 or international 320-365-3844, access code 995370.

    A replay of both the call and the webcast will be available through June 1, 2009.

    About Ceragon Networks Ltd.

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

    Ceragon Networks(R), CeraView(R), FibeAir(R), the FibeAir(R) design mark and Native2(R) are registered trademarks of Ceragon Networks Ltd., and Ceragon(TM), PolyView(TM), ConfigAir(TM), CeraMon(TM), EtherAir(TM), QuickAir(TM), QuickAir Partner Program(TM), QuickAir Partner Certification Program(TM), QuickAir Partner Zone(TM), EncryptAir(TM) and Microwave Fiber(TM) are trademarks of Ceragon Networks Ltd.

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

    Ceragon Reports First Quarter 2009 Results CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands, except share and per share data) (Unaudited) Three months ended March 31, 2009 2008 Revenues $ 43,902 $ 47,176 Cost of revenues 29,031 30,515 Gross profit 14,871 16,661 Operating expenses: Research and development 5,070 4,819 Selling and marketing 7,958 7,026 General and administrative 1,900 1,361 Total operating expenses $ 14,928 $ 13,206 Operating profit (loss) (57) 3,455 Financial income, net 354 818 Income before taxes $ 297 $ 4,273 Taxes on income (82) - Net Income $ 215 $ 4,273 Basic net earnings per share $ 0.01 $ 0.12 Diluted net earnings per share $ 0.01 $ 0.11 Weighted average number of shares used in computing basic net earnings per share 34,802,987 36,943,142 Weighted average number of shares used in computing diluted net earnings per share 38,830,582 35,324,176 Ceragon Reports First Quarter 2009 Results CONDENSED CONSOLIDATED BALANCE SHEETS (U.S. dollars in thousands) (Unaudited) March 31, December 31, 2009 2008 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 41,622 $ 28,224 Short-term bank deposits 28,606 35,044 Marketable securities 6,063 2,187 Trade receivables, net 58,184 70,811 Deferred taxes 4,082 4,082 Other accounts receivable and prepaid expenses 10,228 11,508 Inventories 39,246 40,113 Total current assets 188,031 $ 191,969 LONG-TERM INVESTMENTS: Long-term bank deposits 6,198 8,204 Long-term marketable securities 11,025 24,102 Severance pay funds 3,837 4,065 Deferred taxes 8,007 8,007 Total long-term investments $ 29,067 $ 44,378 PROPERTY AND EQUIPMENT, NET 9,344 8,891 Total assets $ 226,442 $ 245,238 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Trade payables 28,149 41,748 Deferred revenues 7,321 5,886 Other accounts payable and accrued expenses 8,917 8,041 Total current liabilities $ 44,387 $ 55,675 LONG-TERM LIABILITIES Accrued severance pay $ 6,090 $ 6,647 SHAREHOLDERS' EQUITY: Share capital: Ordinary shares 91 91 Additional paid-in capital 285,930 285,141 Treasury shares at cost (14,345) (7,923) Other comprehensive income (1,340) 193 Accumulated deficits (94,371) (94,586) Total shareholders' equity $ 175,965 $ 182,916 Total liabilities and shareholders' equity $ 226,442 $ 245,238 Ceragon Reports First Quarter 2009 Results CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (U.S. dollars, in thousands) (Unaudited) Three months ended March 31, 2009 2008 Cash flow from operating activities: Net income 215 4,273 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation 711 392 Stock-based compensation expense 789 644 Decrease in trade and other receivables, net 13,537 928 Increase in inventory 867 2,595 Decrease in trade payables and accrued liabilities (12,563) (6,884) Increase (decrease) in deferred revenues 1,435 (2,074) Other adjustments (138) (19) Net cash provided by (used in) operating activities 4,853 (145) Cash flow from investing activities: Purchase of property and equipment ,net (2,487) (1,034) Investment in short and long-term bank deposit (8,460) (13,209) Proceeds from short and long-term bank deposits 16,960 16,057 Investment in held-to-maturity marketable securities (1,500) (14,000) Proceeds from maturities of held-to-maturity marketable securities 10,454 2,100 Net cash provided by (used in) investing activities 14,967 (10,086) Cash flow from financing activities: Proceeds from exercise of options - 209 Payment of issuance costs - (330) Purchase of treasury shares at cost (6,422) - Net cash used in financing activities (6,422) (121) Increase (decrease) in cash and cash equivalents 13,398 (10,352) Cash and cash equivalents at the beginning of the period 28,224 58,650 Cash and cash equivalents at the end of the period 41,622 48,298 Ceragon Reports First Quarter 2009 Results RECONCILIATION OF NON-GAAP FINANCIAL RESULTS U.S. dollars in thousands, except share and per share data Three months ended March 31, 2009 2008 GAAP Adjustments(*) Non-GAAP Non-GAAP (as reported) Revenues $ 43,902 $ 43,902 $ 47,176 Cost of revenues 29,031 63 28,968 30,445 Gross profit 14,871 14,934 16,731 Operating expenses: Research and development 5,070 160 4,910 4,660 Selling and marketing 7,958 306 7,652 6,747 General and administrative 1,900 260 1,640 1,225 Total operating expenses $ 14,928 $ 14,202 $ 12,632 Operating profit (loss) (57) 732 4,099 Financial income, net 354 354 818 Income before taxes $ 297 $ 1,086 $ 4,917 Taxes on income (82) (82) - Net income $ 215 $ 1,004 $ 4,917 Basic net earnings per share $ 0.01 $ 0.03 $ 0.13 Diluted net earnings per share $ 0.01 $ 0.03 $ 0.13 Weighted average number of shares used in computing basic net earnings per share 34,802,987 34,802,987 36,943,142 Weighted average number of shares used in computing diluted net earnings per share 35,324,176 35,324,176 38,830,582 Total adjustments 789 (*) Adjustments related to equity based compensation expenses according to SFAS 123 (R) Ceragon Reports First Quarter 2009 Results Contact: Vered Shaked Investor Relations Manager Ceragon Networks Ltd. Int'l: +972-52-573-5513 US +1-201-853-0228 vereds@ceragon.com

    Ceragon Networks Ltd

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




    Orbital and Changan - FlexDI Concept Engine

    PERTH, Australia, April 30 /PRNewswire-FirstCall/ -- Orbital Corporation Limited (ASX: OEC - "Orbital") and Chongqing Changan Automobile Co., Ltd of China ("Changan") are pleased to announce that they have entered into a development contract to jointly develop a concept engine.

    The development will be carried out on Changan's current gasoline engine platform with an objective to achieve a significant fuel economy benefit utilising Orbital's FlexDI(TM) technology. The program is focused on fuel economy improvement while achieving Euro IV emissions level. Orbital was selected as the technology with the best potential to meet the aggressive targets required for the program. If successful, it is planned to take the FlexDI(TM) concept engine to mass production in a Changan vehicle. Changan will pay Orbital AU$2.4 million to carry out the proof of concept development work in Orbital's engineering facility in Perth over the next 18 months.

    Orbital's FlexDI(TM) is a patented direct injection technology utilising low pressure and air assist which is currently applied in non automotive applications including outboard engines, motorcycles, autorickshaws and ATV's achieving fuel economy and emissions reductions.

    Terry Stinson, Orbital's Chief Executive Officer, commented "Changan are highly regarded in the Chinese automotive market and we are extremely pleased to work with Changan in this joint development program. We are confident of achieving the required technical outcome."

    Mr. Zhan Zhangsong, Vice President of Changan Auto Research Institute, added "The Orbital FlexDI(TM) system provides a significant fuel economy benefit in a gasoline engine application. We believe that this project, if successful, will provide Changan a competitive advantage in the Chinese market."

    About Orbital

    Orbital is an international developer of innovative technical solutions for a cleaner world. Orbital provides innovation, design, product development and operational improvement services to the world's producers, suppliers, regulators and end users of engines and engine management systems for application in motorcycles, marine and recreational vehicles, automobiles and trucks. Orbital's principal operations in Perth, Western Australia, provide a world class facility with capabilities in design, manufacturing, development and testing of engines and engine management systems. Headquartered in Perth, Western Australia, Orbital stock is traded on the Australian Stock Exchange (OEC) and the OTC Bulletin Board (OBTLY).

    About Changan

    Chongqing Changan Automobile Co., Ltd. was established in October, 1996. The Company with its merged subsidiary and its jointly owned or operated corporation are mainly engaged in the manufacture and sales of automobile (including sedan), automotive engine series and automotive parts & components. Its main business is involved in the development, manufacture and sales of passenger cars and commercial cars, and its current products mainly include: mini-vehicle such as Changan Star series, Changan brand mini-commercial vehicle, Changan sedan such as Benni, Jiexun and Zhixiang; Changan Suzuki's Alto, Gazalle, Swift and SX4; Changan Ford Mazda's Mondeo, Focus, Mazda 3, SMAX and Volvo S40 sedan; and Jiangling Holding's Landwind MPV, etc. Moreover, the Company also manufactures and sells various types of Jiangling brand engines.

    Forward Looking Statements

    This release includes forward-looking statements that involve risks and uncertainties. These forward-looking statements are based upon management's expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company, that could cause actual results to differ materially from such statements. Actual results and events may differ significantly from those projected in the forward-looking statements as a result of a number of factors including, but not limited to, those detailed from time to time in the Company's Form 20-F filings with the US Securities and Exchange Commission. Orbital makes no undertaking to subsequently update or revise the forward-looking statements made in this release to reflect events or circumstances after the date of this release.

    Orbital Corporation Limited

    CONTACT: Mr Terry Stinson, CEO, +61 8 9441 2462,
    Info@orbitalcorp.com.au

    Web Site: http://www.orbeng.com.au/

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