TechTeam Global Reports First Quarter 2009 Financial ResultsReports improved operating results, cash flow and debt reduction despite a challenging economic environmentAnnounces retirement of an additional 16% of outstanding debt subsequent to quarter end

SOUTHFIELD, Mich., May 5 /PRNewswire-FirstCall/ -- TechTeam Global, Inc. , a worldwide provider of information technology and business process outsourcing services, today reported net income of $1.7 million, or $0.16 per diluted share, for the three months ended March 31, 2009, which was consistent with the results for the three months ended March 31, 2008. While flat compared to last year, if the effects of foreign currency gains and losses during those periods are excluded, diluted earnings per share increased 28.6% from $0.14 per diluted share in the first quarter 2008 to $0.18 per diluted share in the first quarter 2009.

First quarter highlights include the following: -- Revenue was $56.1 million, a decrease of 14.9% from the first quarter 2008 and a decrease of 9.4% from the fourth quarter 2008, largely due to the impact of unfavorable exchange rates in the first quarter 2009 and the divestiture of ANE completed during the fourth quarter 2008. In addition, the Company experienced some revenue erosion due to economic conditions and the previously announced wind-down of certain customer contracts. -- Gross margin was 24.8%, an increase of 2.4 percentage points or 10.7% over the first quarter 2008 and an increase of 0.8% over the fourth quarter 2008, driven by improvements across all operating units and geographies. -- SG&A expense was $10.6 million, a decline of 9.8% from the first quarter 2008 and 8.7% from the fourth quarter 2008. -- Operating income of $3.3 million increased 9.8% over the first quarter 2008, but decreased 9.0% from the fourth quarter of 2008 on the basis of lower revenues noted above, excluding that period's restructuring charge. -- Operating margin of 5.9% increased 1.3 percentage points or 28.3% over the first quarter of 2008 and was flat sequentially from the fourth quarter of 2008, excluding the restructuring charge taken in the quarter. -- EBITDA (earnings before interest, taxes, depreciation and amortization expense) margins increased to 8.5% of revenue compared to 7.7% of revenue for the same period in 2008, representing a year over year margin increase of 10.4% -- Cash provided by operations was $7.2 million, a significant improvement over the $2.9 million cash used by operations in the first quarter 2008 and $5.0 million of cash provided by operating activities in the fourth quarter 2008, substantially driven by improvements in working capital management. This increased the Company's net cash position by $3.0 million from December 31, 2008 to $19.9 million at March 31, 2009 including debt reduction of $3.2 million in the quarter. -- In April 2009, an additional $5.3 million or 16% of then current total debt was retired. Approximately 30% of the Company's outstanding debt has been eliminated over the past seven months. -- A key contract with the Company's second largest global customer for help desk, desktop support, security administration and technical staffing services was renewed in April 2009 for three years with a total contract value of over $39 million. -- Gartner, Inc. positioned TechTeam in the Leaders Quadrant in both the Magic Quadrant for Help Desk Outsourcing, North America, and the Magic Quadrant for Desktop Outsourcing Services, North America reports.(1)

"While business conditions remain very challenging, our operating results in the first quarter were solid and reflect the on-going execution of our strategy to transform the Company," said Gary J. Cotshott, Chairman and Chief Executive Officer of TechTeam Global, Inc. "We are continuing to effectively manage through this difficult environment, while simultaneously improving our position in the market and our operating performance."

"To counter the challenges of some price pressure and volume erosion from current customers, we continue to manage costs very closely and adjust capacity to meet changes in demand. While we expect these types of challenges to continue until overall business conditions improve, we replaced a good deal of this business in the first quarter through scope expansions among existing customers and some new business wins. As a result, we delivered sound profitability and cash flow in the quarter."

"In this environment, current and prospective customers are looking to achieve greater cost savings by either increasing the scope of their engagements or establishing new outsourcing programs, which include significant interest in lower-cost offshore delivery locations. Our fundamental value proposition - to provide cost-effective solutions to our customers coupled with an ability to serve large multi-national companies across their global footprints - is driving a solid pipeline of new opportunities and allowing us to gain recognition from leading industry analysts, which in turn further improves our competitive positioning."

"Even with a solid pipeline, decision cycles have lengthened and we expect some modest revenue erosion on a constant currency basis during 2009. Therefore, our priorities will continue to be protecting the Company's profitability, increasing the new business backlog to support future growth in 2010, and taking substantive steps to improve the Company's capital structure and use of capital, all of which are integral components of our overall transformation strategy."

Discussion of First Quarter 2009 Results

Total Company revenue was $56.1 million for the first quarter 2009, which was a decrease from $66.0 million in the first quarter 2008 and was also a sequential decline from $61.9 million in the fourth quarter 2008. The lower revenue as compared to the first quarter 2008 was driven primarily by an approximate $4.0 million unfavorable impact of exchange rates on revenue in Europe, $2.1 million of lower revenue resulting from the divestiture of ANE in late 2008 and the planned conclusion of certain customer contracts in our IT Outsourcing Services segment. The revenue decline was partially offset by the revenue from the acquisition of Onvaio in May 2008. The foreign currency impact was calculated as if revenue generated in Europe were translated into U.S. dollars at the average exchange rates in effect during the first quarter 2008. Excluding the impact of exchange rates on revenue, the revenue from the acquisition of Onvaio and the divestiture of ANE, revenue for the first quarter 2009 decreased approximately 6.5% from the first quarter 2008.

During the first quarter 2009, the Company reclassified certain expenses between Cost of Revenue and Selling, General and Administrative expense ("SG&A") to allow the Company to track more appropriately how the services are managed. A reclassification of related expenses has been completed for the first quarter and full year 2008 to ensure full comparability of 2008 and 2009 results.

Gross profit, in dollar terms, decreased 5.8% to $13.9 million for the first quarter 2009 from the same period last year. However, the Company's gross margin (gross profit as a percentage of revenue) increased to 24.8% in the first quarter 2009 from 22.4% in the first quarter 2008 and also increased sequentially from 24.6% in the fourth quarter 2008. This increase is due to a combination of tight cost management and the successful execution of restructurings announced and completed in 2008.

Gross margin for the Company's commercial business was 23.7% in the first quarter 2009, from 21.1% in the first quarter 2008 and an increase from 22.4% in the fourth quarter 2008. First quarter 2009 gross margin increased from the prior year in both the Americas and Europe due to margin improvements on existing accounts and new customer contracts added in the Americas late in 2008. Sequentially, gross margin in the commercial business improved in both the Americas and Europe. Gross margin in the Company's government business in the first quarter 2009 was 26.9%, an increase from 25.0% for the same period in 2008 and a sequential decrease from an unusually high 28.6% in the fourth quarter 2008.

SG&A expense decreased $1.1 million to $10.6 million in the first quarter 2009 from $11.7 million in the same period last year and sequentially from $11.6 million in the fourth quarter 2008. The decrease from the first quarter 2008 resulted primarily from a reduction of payroll-related costs driven by lower administrative headcount and the restructuring actions taken in 2008. SG&A expense was 18.9% of revenue for the first quarter 2009, a slight sequential increase from 18.7% of revenue in the fourth quarter 2008.

Operating income increased 9.8% to $3.3 million in the first quarter 2009, up from $3.0 million in the same period last year, but declined sequentially from $3.7 million in the fourth quarter 2008, excluding that period's restructuring charge. Operating margins increased 28.3% to 5.9% for the first quarter 2009 from 4.6% for the first quarter 2008 and were flat sequentially with the fourth quarter 2008, excluding the restructuring charge.

Foreign currency transaction losses in the first quarter 2009 totaled $235,000 on a pre-tax basis related primarily to TechTeam's operations in Europe. This compares to a pre-tax gain of $212,000 for the first quarter 2008 and $956,000 for the fourth quarter 2008.

On a reported basis, the Company's effective tax rate for the first quarter 2009 was 40.9% as compared to the first quarter 2008 rate of 39.8% and declined sequentially from 52.2% in the fourth quarter 2008. The first quarter 2009 and 2008 rates differ from the U.S. statutory tax rate of 34.0% primarily due to state income taxes, foreign operating losses for which a tax benefit is not recorded and certain nondeductible expenses.

Net income was $1.7 million or $0.16 per share for the first quarter 2009 and 2008 and declined from net income of $2.9 million, or $0.27 per diluted share, in the fourth quarter 2008, excluding the restructuring charge from that period.

With respect to the balance sheet, total current assets were $77.2 million at March 31, 2009, a decrease from $80.9 million at December 31, 2008. The decrease was due primarily to a $7.6 million decrease in accounts receivable, which was driven by lower revenue and improvements in days sales outstanding. Current liabilities were $40.9 million at March 31, 2009, an increase from $38.5 million at December 31, 2008 driven by an increase in current portion of long-term debt. The Company had 11,011,735 common shares issued and outstanding at March 31, 2009, as compared to 10,884,998 common shares issued and outstanding at December 31, 2008.

With respect to the statements of cash flows, net cash provided by operations for the quarter ended March 31, 2009 was $7.2 million as compared to net cash used in operations of $2.9 million for the same period in 2008 due primarily to improvements in working capital partially offset by lower net income. Net cash used in investing activities was $800,000 and $1.4 million for the three months ended March 31, 2009 and 2008, respectively. Net cash used in investing activities in the quarter ending March 31, 2009 was primarily related to the capital expenditures, while net cash used in investing activities during the quarter ending March 31, 2008 was related to acquisitions of SQM and NewVectors and capital expenditures. Capital expenditures were $671,000 and $755,000, respectively, for the three months ended March 31, 2009 and 2008. Net cash used by financing activities for the quarter ended March 31, 2009 was $3.2 million compared to $571,000 provided by financing activities for the quarter ended March 31, 2008. The net cash used by financing activities in 2009 was primarily used to pay down debt.

For the quarter ending March 31, 2009, earnings before interest, taxes, depreciation and amortization expense ("EBITDA"), was $4.8 million, or 8.5% of revenue, compared with EBITDA of $5.0 million, or 7.7% of revenue, for the same period in 2008.

The Company believes EBITDA is an important "non-GAAP" measure of the Company's financial performance. EBITDA presents information on earnings that may be more comparable to companies with different finance structures, capital investments or capitalization and depreciation policies. The most closely related GAAP measure is operating income. Some financial analysts also use EBITDA to assist in the determination of a company's possible market valuation. See the table following the financial statements in this press release for a reconciliation of operating income to EBITDA excluding the restructuring charges.

Conference Call Information

TechTeam Global, Inc. will also host an investor teleconference to discuss its first quarter 2009 financial results at 4:30 p.m. EDT, today, Tuesday, May 5, 2009. To participate in the teleconference, including the question and answer session that will follow the results announcement and discussion, please call 18668046295 (outside the United States, call +18573501671). When prompted, enter the passcode: 62999317. To access a simultaneous Web cast of the teleconference, go to the TechTeam Global Web site at http://www.techteam.com/investors and click on the Web cast icon. From this site, you can download the necessary software and listen to the teleconference. TechTeam encourages you to review the site before the teleconference to ensure that your computer is configured properly.

A taped replay of the call will be available beginning at approximately 6:30 p.m. EDT, Tuesday, May 5, 2009. This toll-free replay will be available through Tuesday, May 19, 2009. To listen to the teleconference replay, call 18882868010 (outside the United States, call +16178016888). When prompted, enter the passcode: 23614048.

(1) The Magic Quadrant for Help Desk Outsourcing, North America was authored by Richard T. Matlus and William Maurer and was published on March 4, 2009. The Magic Quadrant for Desktop Outsourcing Services, North America was authored by William Maurer, Richard T. Matlus and Lilian Dutra and was published on March 3, 2009.

About TechTeam Global, Inc.TechTeam Global, Inc. is a leading provider of IT outsourcing and business process outsourcing services to large and medium businesses, as well as government organizations. The company's primary services include service desk, technical support, desk-side support, security administration, infrastructure management and related professional services. TechTeam also provides a number of specialized, value-added services in specific vertical markets. Founded in 1979, TechTeam has nearly 3,000 employees across the world, providing IT support in 32 languages. TechTeam's common stock is traded on the NASDAQ Global Market under the symbol "TEAM." For more information, call 800-522-4451 or visit http://www.techteam.com/.

About the Magic QuadrantThe Magic Quadrant is copyrighted by Gartner, Inc., 2009, and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Safe Harbor Statement

The statements contained in this press release that are not purely historical, including statements regarding the Company's expectations, hopes, beliefs, intentions, or strategies regarding the future, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results may differ materially from those expected because of various known and unknown risks and uncertainties, including, but not limited to, the ongoing U.S. recession, the existing global credit and financial crisis and other changes in general economic and industry conditions, the award or loss of significant client assignments, timing of contracts, recruiting and new business solicitation efforts, currency fluctuations, and other factors affecting the financial health of our clients. These and other risks are described in the Company's most recent annual report on Form 10-K and subsequent reports filed with or furnished to the U.S. Securities and Exchange Commission. The forward-looking statements included in this press release are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statements.

Financial Data TechTeam Global, Inc. Condensed Consolidated Income Statements (unaudited) (In thousands, except per share data) Three Months Ended March 31, -------------------- % 2009 2008 Change Revenue ---- ---- ------ Commercial - IT Outsourcing Services $27,718 $30,267 (8.4)% IT Consulting and Systems Integration 3,904 6,874 (43.2)% Other Services 4,265 6,787 (37.2)% ----- ----- Total Commercial 35,887 43,928 (18.3)% Government Technology Services 20,218 22,036 (8.3)% ------ ------ Total Revenue 56,105 65,964 (14.9)% ------ ------ Cost of Revenue Commercial - IT Outsourcing Services 21,265 23,943 (11.2)% IT Consulting and Systems Integration 2,968 5,488 (45.9)% Other Services 3,159 5,234 (39.6)% ----- ----- Total Commercial 27,392 34,665 (21.0)% Government Technology Services 14,785 16,521 (10.5)% ------ ------ Total Cost of Revenue 42,177 51,186 (17.6)% ------ ------ Gross Profit 13,928 14,778 (5.8)% Selling, general and administrative expense 10,592 11,739 (9.8)% ------ ------ Operating Income 3,336 3,039 9.8% Net interest expense (311) (444) Foreign currency transaction gain (loss) (235) 212 ---- --- Income before Income Taxes 2,790 2,807 Income tax provision 1,140 1,116 ----- ----- Net Income $1,650 $1,691 ====== ====== Diluted Earnings per Common Share $0.16 $0.16 ===== ===== Diluted weighted average common shares and common share equivalents 10,613 10,495 ====== ====== Condensed Consolidated Balance Sheet (unaudited) (In thousands) March 31, December 31, 2009 2008 --------- ------------ Current Assets Cash and cash equivalents $19,909 $16,881 Accounts receivable, net 52,149 59,705 Prepaid expenses and other current assets 5,158 4,315 ----- ----- Total current assets 77,216 80,901 ------ ------ Property, Equipment and Software, Net 7,758 8,327 Goodwill and Other Intangible Assets, Net 76,635 77,361 Other Assets 745 774 --- --- Total Assets $162,354 $167,363 ======== ======== Current Liabilities Current portion of long-term debt $12,989 $7,987 Accounts payable 7,292 6,340 Accrued payroll and related taxes 10,724 12,477 Accrued expenses and other current liabilities 9,850 11,670 ----- ------ Total current liabilities 40,855 38,474 ------ ------ Long-Term Liabilities Long-term debt, less current portion 19,044 27,202 Other long-term liabilities 2,593 2,954 ----- ----- Total long-term liabilities 21,637 30,156 ------ ------ Shareholders' Equity Preferred stock - - Common stock 110 109 Additional paid-in capital 78,494 77,939 Retained earnings 23,009 21,359 Accumulated other comprehensive loss (1,751) (674) ------- ----- Total shareholders' equity 99,862 98,733 ------ ------ Total Liabilities and Shareholders' Equity $162,354 $167,363 ======== ======== Condensed Consolidated Statements of Cash Flows (unaudited) (In thousands) Three Months Ended March 31, ---------------------------- 2009 2008 ---- ---- Operating Activities Net income $1,650 $1,691 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 1,688 1,798 Other adjustments, primarily changes in working capital 3,862 (6,415) ----- ------- Net cash provided by (used in) operating activities 7,200 (2,926) ----- ------- Investing Activities Purchase of property, equipment and software (671) (755) Cash paid for acquisitions, net of cash acquired (126) (670) ----- ----- Net cash used in investing activities (797) (1,425) ----- ------- Financing Activities Proceeds (expenditures) from issuance of common stock (11) 3 Tax expense from stock options - (16) Payments on long-term debt (3,152) (558) ------- ----- Net cash used in financing activities (3,163) (571) ------- ----- Effect of exchange rate changes on cash and cash equivalents (212) 53 ----- --- Increase (decrease) in cash and cash equivalents 3,028 (4,869) Cash and cash equivalents at beginning of period 16,881 19,431 ------ ------ Cash and cash equivalents at end of period $19,909 $14,562 ======= =======

Reconciliation of Operating Income to Earnings before Interest, Taxes, Depreciation and Amortization

(In thousands) Three Months Ended March 31, ------------------ 2009 2008 ---- ---- Operating income $3,336 $3,039 Depreciation and amortization 1,688 1,798 Foreign currency transaction gain (loss) (235) 212 ----- --- Earnings Before Interest, Taxes, Depreciation and Amortization $4,789 $5,049 ====== ====== Contacts: TechTeam Global, Inc. Boscobel Marketing Communications Margaret M. Loebl Jessica Klenk Vice President, Chief Financial (301) 588-2900 ext. 121 Officer and Treasurer jklenk@boscobel.com (248) 357-2866 investors@techteam.com

TechTeam Global, Inc.

CONTACT: Margaret M. Loebl, Vice President, Chief Financial Officer and
Treasurer of TechTeam Global, Inc., +1-248-357-2866, investors@techteam.com;
or Jessica Klenk of Boscobel Marketing Communications, +1-301-588-2900 ext.
121, jklenk@boscobel.com

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

Sonic Foundry Reports Second Quarter 2009 Results

MADISON, Wis., May 5 /PRNewswire-FirstCall/ -- Sonic Foundry, Inc. , the recognized market leader for rich media webcasting and knowledge management, today announced financial results for its fiscal 2009 second quarter ended March 31, 2009. The Company posted:

-- Revenue of $5.4 million, up 38 percent from fiscal Q2 2008 revenue of $3.9 million. -- A quarterly loss of $152 thousand equating to $0.00 per diluted share. These results compare to a $2.3 million loss or $(0.06) per diluted share in the second quarter of 2008. -- Billings of $5.5 million compared to $4.5 million in the second quarter of 2008. -- Non-GAAP net income of $301 thousand or $0.01 per diluted share compared to non-GAAP net loss of $1.0 million or $(0.03) per diluted share in the second quarter of 2008. -- Service revenue of $2.1 million, up 24 percent from Q2 2008. -- Unearned revenue balance of $4.7 million at March 31, 2009 compared to $3.5 million at March 31, 2008. -- Operating expenses of $4.2 million, down 16 percent from $5.0 million during the second quarter of fiscal 2008.

Non-GAAP net income primarily excludes all non-cash related expenses of stock compensation, depreciation, amortization and includes the cash impact of billings not recognized as revenue. Reconciliation between GAAP and non-GAAP results is provided at the end of this press release.

Targeted sales strategies combined with a cost reduction plan initiated in the second quarter of fiscal 2008 have allowed the company to realize a significant improvement in both cash flows and net income while continuing to grow the business. The positive revenue growth combined with expense reductions resulted in achieving $0.00 per diluted share and quarter over quarter EPS improvement for the fourth consecutive reporting period.

The company increased the balance of unearned revenue by $1.3 million or 36% from March 31, 2008 to its current end of quarter level of $4.7 million. Of the unearned revenue balance, the company expects to realize $2.0 million in the upcoming quarter. Gross margin was 75 percent, up from 71 percent in the prior year.

Billings to higher education customers totaled 60 percent of total billings for the second quarter, comparable to 62 percent in the second quarter of 2008. Total international sales accounted for approximately 32 percent of the quarter's billings, including approximately $1 million of billings to a single international customer, King Abdullah University of Science and Technology (KAUST). The project is expected to exceed $2 million, including $700 thousand completed in Q1 2009 and additional commitments of approximately $400 thousand expected to be completed in Q3 2009.

Outsourced webcasting services resulted in $382 thousand or seven percent of total billings for the quarter, a 27 percent increase year over year. Sonic Foundry Event Services customers are typically corporate meeting planners, communication executives or training directors planning either large, multi-room, multi-day events or high-profile live events such as press conferences or product launches. The company anticipates demand for event webcasting will continue to increase as organizations impose further travel constraints on employees.

"We are extremely pleased with the growth trends we are seeing in the business along with improved cost control," said Rimas Buinevicius, chairman and CEO of Sonic Foundry. "Through this very challenging economic period, Sonic Foundry has trended positive on various key metrics, due in large part to the successful strategy initiated over a year ago. We intend to continue to differentiate our offerings and provide clear benefits to our customers, who now increasingly recognize the value of rich media webcasting in the learning and training markets."

Sonic Foundry will host a corporate webcast today for analysts and investors to discuss its second quarter fiscal 2009 results at 3:30 p.m. CT / 4:30 p.m. ET. It will use its patented rich media communications system, Mediasite, to webcast the presentation for both live and on-demand viewing. To access the presentation, go to http://www.sonicfoundry.com/q2. An archive of the webcast will be available for 30 days.

The company received notice from NASDAQ on October 22, 2008 that, in response to extraordinary market conditions, NASDAQ was suspending enforcement of the minimum bid price requirement of $1.00 per share for 90 days. Sonic Foundry received additional notices on December 23, 2008 and March 24, 2009 extending the suspension of the minimum bid price for an additional 90 days. The rule suspension provides more time for companies to regain compliance with the minimum $1 per share requirement. Without further suspensions of the rule, Sonic Foundry will need to regain compliance with the minimum bid price by December 2009.

EXPLANATION OF NON-GAAP MEASURES

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

-- Billings not recorded as revenue: We have included the cash effect of billings not recorded as revenue, which are deferred for GAAP purposes, in arriving at non-GAAP net income or loss. Our services are typically billed and collected in advance of providing the service which requires minimal cost to perform in the future. Billings are a better indicator of customer activity and cash flow than revenue is, in management's opinion, and is therefore used by management as a key operational indicator. -- Depreciation and amortization of intangible and other assets expenses: We have excluded the effect of depreciation and amortization of assets from our non-GAAP net income or loss. Amortization of intangible assets expense varies in amount and frequency and it is significantly affected by the timing and size of our acquisitions. Depreciation and amortization of asset costs is a non-cash expense that includes the periodic write-off of tooling, product design and other assets that contributed to revenues earned during the periods presented and will contribute to future period revenues as well. -- Personnel and program reduction costs: We have excluded the additional costs incurred as a result of our cost reduction plan which was communicated in January 2008. These costs include severance costs associated with employee reductions as we better aligned ourselves with key vertical markets. Also excluded is a one time charge associated with an early extinguishment of a lease. -- Stock-based compensation expenses: We maintain an employee qualified stock option plan under which we grant options to acquire common stock to eligible employees. We also maintain an employee stock purchase plan under which common stock may be issued to eligible employees at a reduced price. Stock-based compensation expenses are recorded for these plans in accordance with Statement of Financial Accounting Standard No. 123R, Share-Based Payment - an Amendment of FASB Statement Nos. 123 and 95. Stock-based compensation expense is a non-cash expense. As a result, we have excluded the effect of stock-based compensation expenses from our non-GAAP net income or loss. About Sonic Foundry(R), Inc.

Sonic Foundry is the global leader for rich media webcasting and knowledge management, providing enterprise communication solutions for more than 1,500 customers in education, business and government. Powered by Mediasite, the patented webcasting platform which automates the capture, management, delivery and search of lectures, online training and briefings, Sonic Foundry empowers people to transform the way they communicate. Through the Mediasite platform and its Events Services group, the company helps customers connect a dynamic, evolving world of shared knowledge and envisions a future where learners and workers around the globe use webcasting to bridge time and distance, accelerate research and improve performance.

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

Sonic Foundry, Inc. Consolidated Balance Sheets (in thousands, except for share data) (Unaudited) March 31, September 30, 2009 2008 Assets Current assets: Cash and cash equivalents $2,497 $3,560 Accounts receivable, net of allowance of $105 and $150 4,012 3,864 Inventories 128 330 Prepaid expenses and other current assets 738 429 Total current assets 7,375 8,183 Property and equipment: Leasehold improvements 980 980 Computer equipment 2,503 2,476 Furniture and fixtures 461 461 Total property and equipment 3,944 3,917 Less accumulated depreciation 2,399 2,223 Net property and equipment 1,545 1,694 Other assets: Goodwill 7,576 7,576 Other intangibles, net of amortization of $26 and $19 14 21 Total assets $16,510 $17,474 Liabilities and stockholders' equity Current liabilities: Line of credit $600 $- Accounts payable 704 1,256 Accrued liabilities 1,158 1,113 Unearned revenue 4,722 4,661 Current portion of notes payable 333 333 Current portion of capital lease obligations 40 46 Total current liabilities 7,557 7,409 Long-term portion of notes payable 56 223 Long-term portion of capital lease obligations 5 24 Other liabilities 213 255 Total liabilities 7,884 7,911 Stockholders' equity: Preferred stock, $.01 par value, authorized 5,000,000 shares; none issued and outstanding - - 5% preferred stock, Series B, voting, cumulative, convertible, $.01 par value (liquidation preference at par), authorized 10,000,000 shares, none issued and outstanding - - Common stock, $.01 par value, authorized 100,000,000 shares; 36,035,117 and 35,728,837 shares issued and 35,907,950 and 35,601,670 shares outstanding 359 357 Additional paid-in capital 184,657 184,204 Accumulated deficit (176,195) (174,803) Receivable for common stock issued (26) (26) Treasury stock, at cost, 127,167 shares (169) (169) Total stockholders' equity 8,626 9,563 Total liabilities and stockholders' equity $16,510 $17,474 See accompanying notes Sonic Foundry, Inc. Consolidated Statements of Operations (in thousands, except for share and per share data) (Unaudited) Three Months Ended Six Months Ended March 31, March 31, 2009 2008 2009 2008 Revenue: Product $3,249 $2,182 $4,993 $3,124 Services 2,129 1,719 4,365 3,277 Other 35 28 64 48 Total revenue 5,413 3,929 9,422 6,449 Cost of revenue: Product 1,195 1,097 1,961 1,606 Services 135 57 260 270 Total cost of revenue 1,330 1,154 2,221 1,776 Gross margin 4,083 2,775 7,201 4,673 Operating expenses: Selling and marketing 2,607 3,330 5,270 6,876 General and administrative 733 736 1,516 1,714 Product development 887 982 1,790 1,928 Total operating expenses 4,227 5,048 8,576 10,518 Loss from operations (144) (2,273) (1,375) (5,845) Other income (expense), net (8) (5) (17) 27 Net loss $(152) $(2,278) $(1,392) $(5,818) Net loss per common share: - basic and diluted $(0.00) $(0.06) $(0.04) $(0.16) Weighted average common shares - basic and diluted 35,814,417 35,572,140 35,781,939 35,566,949 See accompanying notes Non-GAAP Consolidated Statements of Operations (in thousands) Fiscal Quarter Ended Fiscal Quarter Ended March 31, 2009 March 31, 2008 GAAP Adj(1) Non-GAAP GAAP Adj(1) Non-GAAP Revenues $5,413 $118 $5,531 $3,929 $571 $4,500 Cost of revenue 1,330 - 1,330 1,154 - 1,154 Total Operating expenses 4,227 (332) 3,895 5,048 (703) 4,345 Loss from operations (144) 453 309 (2,273) 1,274 (999) Other income (8) - (8) (5) - (5) Net income (loss) $(152) $453 $301 $(2,278) $1,274 $(1,004) Diluted net income (loss) per common share $(0.00) $0.01 $0.01 $(0.06) $0.03 $(0.03) (1) Adjustments consist of the following: Billings 118 571 Depreciation (in G&A) 173 166 Personnel and program reductions - 316 Stock-based compensation(2) 162 221 Total non-GAAP adjustments 453 1,274 (2) Stock-based compensation is included in the following GAAP operating expenses: Selling and marketing 105 141 General and administrative 15 24 Research and development 42 56 Total stock-based compensation 162 221

Sonic Foundry, Inc.

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

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

Harris Corporation Reports Higher Revenue, Income and Earnings Per Share for the Third QuarterCompany Updates Fiscal 2009 Guidance and Provides Initial Fiscal 2010 Guidance

MELBOURNE, Fla., May 5 /PRNewswire-FirstCall/ -- Harris Corporation reported GAAP net income for the third quarter of fiscal 2009 of $114 million, or $.86 per diluted share, compared with GAAP net income of $108 million, or $.78 per diluted share, in the prior-year quarter. Revenue for the third quarter of fiscal 2009 was $1.36 billion, compared with $1.33 billion for the prior-year quarter.

Excluding the results of Harris Stratex Networks, Inc., net income was $136 million, or $1.02 per diluted share, for the third quarter of fiscal 2009, compared with net income of $106 million, or $.78 per diluted share, in the prior-year quarter. Revenue on the same basis increased 5 percent to $1.21 billion in the third quarter, compared with $1.15 billion for the prior-year quarter.

Orders were $1.0 billion for the third quarter, declining 27 percent compared with $1.4 billion in the prior-year quarter, primarily as a result of significantly lower Department of Defense (DoD) orders in the RF Communications segment and the impact of the weak global economy on the Broadcast Communications segment.

Harris announced on March 31, 2009, that its Board of Directors approved the spin-off to its shareholders of all the shares of Harris Stratex Networks owned by Harris, and that the distribution will take place in the form of a taxable pro rata dividend of Harris Stratex Networks shares payable on May 27, 2009. A reconciliation of GAAP to non-GAAP financial measures is provided in Table 5, along with the accompanying notes.

"Our company performed very well in the third quarter with higher revenue and strong earnings," said Howard L. Lance, chairman, president and CEO. "However, order rates declined in the quarter and are expected to remain weak in the near-term, which will have a significant impact on expected results in fiscal 2010. Beyond fiscal 2010, our company is well-positioned to return to growth. We will continue to invest in acquisitions and new products to expand into adjacent markets where our advanced technologies and capabilities are discriminators. For example, feedback from our customers that have begun fielding our new Falcon lll(R) manpack radios has been overwhelmingly positive. The Falcon III 117G is JTRS-approved and offers the most advanced capabilities available in the market, including wideband networking. We are confident that the radios will be widely fielded in both the U.S and international markets."

Revenue and Earnings Guidance

Harris now expects non-GAAP earnings from continuing operations in fiscal 2009 to be at the low end of its previous guidance range of $3.93 to $4.03 per diluted share, excluding acquisition-related costs ($3.88 to $3.98 on a GAAP basis), representing a year-over-year increase of approximately 17 percent, compared with non-GAAP earnings from continuing operations in fiscal 2008 of $3.35 per diluted share ($3.33 on a GAAP basis). Revenue from continuing operations for fiscal 2009 is now expected to increase by approximately 7 percent compared with fiscal 2008.

Initial non-GAAP earnings guidance in fiscal 2010 is expected to be in a range of $3.10 to $3.40 per diluted share, a 16 to 21 percent decline compared to the low end of fiscal 2009 guidance. Revenue in fiscal 2010 is expected to be in a range of $4.9 billion to $5.1 billion. Fiscal 2010 earnings per share and revenue guidance include the expected full-year contribution of the Wireless Systems and Crucial Security acquisitions and exclude acquisition-related costs.

A reconciliation of GAAP to non-GAAP financial measures is provided in Table 7, along with the accompanying notes.

RF Communications

Third quarter revenue in the RF Communications segment was $439 million, an increase of 12 percent, compared with $392 million in the prior-year quarter. Operating income in the third quarter was $151 million, and operating margin continued to be strong at 34.5 percent of revenue.

Revenue growth was driven by significantly higher international sales, which represented 43 percent of total revenue in the quarter, compared with 27 percent for all of fiscal 2008. Revenue in the U.S. market remained strong, but declined compared to the prior-year quarter. Significant deliveries in the quarter were made to Norway, Pakistan, the Philippines, Hungary, Belgium, Iraq, Kyrgyzstan, the Czech Republic, Armenia, Canada, Ukraine, and Afghanistan. In the U.S. market, significant deliveries were made to the U.S. Army, Marine Corps, and Air Force.

Year-to-date orders through the third quarter of fiscal 2009 were $807 million, down 37 percent, compared with $1.28 billion for the comparable prior-year period. Full-year fiscal 2009 orders are expected to be $1.2 billion to $1.3 billion, well below expected revenue, resulting in a segment book-to-bill ratio of substantially below 1:1. As a result, segment organic revenue in fiscal 2010 is now expected to be significantly lower than fiscal 2009.

The reduced outlook results from a combination of factors, including the delay of two significant orders. The company had expected a $250 million order from the Iraq Ministry of Defence for HF radios, which is now expected to be received in smaller increments over several years. Also expected was a $500 million ceiling IDIQ (Indefinite Delivery/Indefinite Quantity) contract from the U.S. Army for the purpose of procuring Falcon II(R) AN/PRC-117F and the new Falcon III AN/PRC-117G multiband radios. The IDIQ was awarded to Harris in the third quarter, with an initial $148 million order for 117Gs. Subsequently, it was determined by the Army that this IDIQ contract could not be used to procure 117G radios, and the order was cancelled. This decision may result in significant delays in 117G orders.

In addition, pressure on DoD budgets caused by the global economic crisis and deficit spending, as well as the lack of clarity surrounding funding priorities within the new administration, are slowing DoD procurements for many defense products and systems, including tactical radios for modernization programs. For Harris, the slower procurement environment has been compounded by reduced urgency for radio systems to support operational requirements in Iraq, which has been only partially offset by additional requirements for Afghanistan.

In the international market, demand remains robust and should continue to drive significant international revenue growth. Communications modernization and standardization programs by U.S. allies are expected to continue. Harris provides Falcon(R) tactical radios to more than 100 countries.

"In spite of the near-term decline, longer-term growth prospects for the business remain very positive in both U.S. and international markets," Lance said. "RF Communications will benefit from positive long-term market trends, a competitive position that is unmatched, and an industry-leading new product portfolio." For example, the Falcon lll manpack radio is the first JTRS-approved tactical radio system that provides wideband mobile ad-hoc networked communications. The radio has been fielded by all services of the U.S. Department of Defense and several international allies. The radio supports secure, high-bandwidth communications on-the-move, delivering an evolving picture of the battlefield in real time.

Harris continued to expand its addressable markets through its international integrated communications systems offering. The company received a $46 million order in the third quarter from the government of the United Arab Emirates for an integrated communications system incorporating Falcon II radios, Falcon III high-capacity data radios (HCDRs), tactical broadband global area network (BGAN) satellite communications terminals, and command and control capabilities. Significant international orders in the quarter were also received from Poland and Hungary.

New orders in the U.S. reflected the progress Harris is making with its customers to field larger quantities of the company's new JTRS-approved Falcon III radios that provide multimission capability and new capabilities such as wideband networking for high-bandwidth communications on-the-move. The U.S. Air Force placed an $18 million order for the new Falcon III 117G wideband networking radio, which includes a Remote Operated Video Enhanced Receiver (ROVER) interoperable mode that provides battlefield airmen the ability to receive live video directly from UAVs. Also in the quarter, over $60 million in orders for Falcon III multiband handheld and vehicular radios were received from multiple DoD customers.

On April 16, Harris announced a definitive agreement to acquire the Tyco Electronics Wireless Systems business (formerly known as M/A-COM), an established provider of mission-critical wireless communications systems for law enforcement, fire and rescue, and public service organizations. Wireless Systems had revenue of $463 million for its fiscal year ending September 26, 2008, and addresses a growing $9 billion global market for public safety communications. The acquisition is expected to close by the end of June 2009. Wireless Systems will operate as the Public Safety business unit under the Harris RF Communications segment.

Government Communications Systems

The Government Communications Systems segment reported fiscal 2009 third quarter revenue of $649 million, a 7 percent increase compared with $608 million in the prior-year quarter. Operating income in the third quarter was $74 million, and operating margin was a strong 11.4 percent. Operating income in the prior-year quarter was $21 million and was impacted by a $47 million charge for commercial satellite reflector programs. Seven of the ten commercial reflectors under contract have now been shipped to customers.

Revenue increased in all four of the segment's businesses: Defense Programs, National Intelligence Programs, Civil Programs and IT Services. Revenue growth was primarily driven by: the FAA Telecommunications Infrastructure (FTI) program, which has expanded to include the FTI Microwave program in Alaska; a number of classified programs; the Global Geospatial Intelligence (GGI) program for the National Geospatial-Intelligence Agency; sales of surveillance equipment from the company's Wireless Products Group (WPG); the U.S. Navy Commercial Broadband Satellite Program; and the Navy/Marine Corps Intranet (NMCI) IT services program.

The ramping of several recent contract awards in the segment's new Healthcare Solutions business also contributed to higher revenue, including a significant multi-million-dollar, ten-year contract with Health First, Inc., a Florida-based healthcare provider. Harris will provide network management and IT services for its enterprise-wide operations. The contract includes software and hardware support, 24/7 network operations center, help desk, training, and network security services. Also, Harris has joined forces with a business unit of Siemens Healthcare to provide solutions critical for Picture Archiving and Communications Systems (PACS) that support business continuity during the recovery from natural and man-made disasters.

Following the close of the quarter, Harris was awarded a 10-year, $600 million contract for the U.S. Army Modernization of Enterprise Terminals (MET) program. The new satellite communications terminals will represent the worldwide backbone for high-priority military communications and missile defense systems and support Internet Protocol (IP) and Dedicated Circuit Connectivity within the Global Information Grid (GIG), providing critical reach-back capability for the warfighter.

On April 16, 2009, Harris announced its acquisition of Crucial Security, Inc., a Washington, D.C.-area provider of mission-enabling engineering solutions that address both offensive and defensive IT security challenges for federal law enforcement and other U.S. government agencies. The acquisition expands Harris capabilities and customer footprint in the cyber security market.

Broadcast Communications

Third quarter revenue in the Broadcast Communications segment was $132 million, declining 17 percent compared with $159 million in the prior-year quarter. Operating income was $2 million in the third quarter compared with $7 million in the prior-year quarter. The global recession and postponement of capital projects further weakened demand. However, the impact of lower revenue on operating performance in the third quarter was mitigated by on-going cost-reduction actions.

Revenue declined in both U.S. and international markets and was lower primarily as a result of declining sales in Infrastructure and Networking Solutions where the impact of the global market softness was most significant. Transmission Systems sales were modestly lower as a result of softness in the global radio market. Media and Workflow sales were flat, with weakness in U.S. and international traffic systems, offset by higher sales of media server products.

At the recent National Association of Broadcasters show in Las Vegas, Harris made several announcements related to important new growth initiatives for the segment. Harris will begin a field trial with McDonald's this month to launch the fast food chain's unique, branded TV channel. The field trial includes 20 restaurants around the country and will feature Harris Digital Signage(TM) solutions to manage, monitor and play out digital broadcast-quality video content for the McDonald's Channel. The systems will be designed and managed through a collaborative effort between Harris Broadcast Communications and the Harris IT Services business within the Government Communications Systems segment.

In another breakthrough application, Harris has signed with the National Basketball Association Orlando Magic to create a first-of-its-kind advanced media workflow in the team's new arena that will be completed in 2010. The in-arena network will combine IPTV and digital signage and will be built around file-based workflows that merge broadcast technology with IT infrastructure. The systems will be designed and managed by Harris Broadcast Communications and Harris IT Services.

Harris Stratex Networks, Inc.

Harris Stratex Networks, Inc. revenue for the third quarter of fiscal 2009 was $158 million, a decrease of 11 percent compared with $178 million in the prior-year quarter. The segment reported an operating loss of $34 million in the quarter as a result of impairment charges of $33 million related to the acceleration towards a common IP-based technology platform and a $2 million write-off of in-process research and development related to an acquisition.

Harris will host a conference call today at 4:30 p.m. Eastern Time (ET) to discuss its third quarter fiscal 2009 financial results. The dial-in number for the teleconference is (913) 312-1492 and the access code is 3442695. Please allow at least 10 minutes prior to the scheduled start time to connect to the teleconference. Harris encourages you to listen via webcast, which will be broadcast live at http://www.harris.com/conference-call. A replay of the teleconference will be available beginning at 8:30 p.m. ET on May 5 and will run until midnight ET on Tuesday, May 12. To access the replay, please call (719) 457-0820, access code 3442695. A recording of the call will also be available on the Harris website beginning at 7:00 p.m. ET on Tuesday, May 5.

About Harris Corporation

Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has annual revenue of $5.4 billion and 16,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications(R) products, systems, and services. Additional information about Harris Corporation is available at http://www.harris.com/.

Non-GAAP Financial Measures

This press release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the SEC, including net income, net income per diluted share and revenue for the third quarter of fiscal 2009 and the third quarter of fiscal 2008, and net income per diluted share and revenue for fiscal 2009 and fiscal 2008, in each case excluding the results of Harris Stratex Networks, and fiscal 2009 and fiscal 2010 guidance excluding acquisition-related costs. Harris management believes that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. Management also believes that these non-GAAP financial measures enhance the ability of investors to analyze Harris business trends and to understand Harris performance. In addition, Harris may utilize non-GAAP financial measures as a guide in its forecasting, budgeting, and long-term planning process and to measure operating performance for some management compensation purposes. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP.

Attachments: Financial Statements (seven tables). Forward-Looking Statements

Statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements in this release include but are not limited to: earnings and revenue guidance for fiscal 2009 and fiscal 2010; the potential value of contract awards; and statements regarding outlook, including expected revenue and orders. The Company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. The Company's consolidated results and the forward-looking statements could be affected by many factors, including but not limited to: the loss of our relationship with the U.S. government or a shift in U.S. government funding; potential changes in U.S. government or customer priorities; risks inherent with large long-term fixed-price contracts, particularly the ability to contain cost overruns; financial and government and regulatory risks relating to international sales and operations; our ability to continue to develop new products that achieve market acceptance; the consequences of future geo-political events; strategic acquisitions and the risks and uncertainties related thereto, including our ability to manage and integrate acquired businesses; performance of our subcontractors and suppliers; potential claims that we are infringing the intellectual property rights of third parties; the successful resolution of patent infringement claims and the ultimate outcome of other contingencies, litigation and legal matters; customer credit risk; risks inherent in developing new technologies; changes in our effective tax rate; the impact of the results of Harris Stratex Networks, which may vary significantly and may be difficult to forecast; the potential impact of natural disasters on our significant operations in Florida, California and other locations; changes in future business conditions that could cause business investments and/or recorded goodwill to become impaired; and the recession in the United States and general downturn in the global economy. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this release are made as of the date of this release, and Harris disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Table 1 HARRIS CORPORATION FY '09 Third Quarter Summary condensed Consolidated Statement of Income (Unaudited) Three Quarter Ended Quarters Ended April 3, March 28, April 3, March 28, 2009 2008 2009 2008 (In millions, except per share amounts) Revenue from product sales and services $1,361.7 $1,329.6 $4,252.8 $3,877.8 Cost of product sales and services (952.3) (933.9) (2,941.9) (2,691.7) Engineering, selling and administrative expenses (240.1) (236.4) (717.0) (683.6) Impairment of goodwill and other intangible assets --- --- (301.0) --- Non-operating income (loss) 6.6 2.8 (2.2) 8.7 Interest income 0.8 1.9 3.7 5.5 Interest expense (13.4) (13.9) (41.0) (42.8) Income before income taxes and minority interest 163.3 150.1 253.4 473.9 Income taxes (65.8) (38.9) (214.2) (149.0) Minority interest in Harris Stratex Networks, Inc., net of tax 16.7 (3.2) 155.1 (2.4) Net income $114.2 $108.0 $194.3 $322.5 Net income per common share Basic $.87 $.80 $1.47 $2.41 Diluted $.86 $.78 $1.46 $2.35 Cash dividends paid per common share $.20 $.15 $.60 $.45 Basic weighted average shares outstanding 132.0 134.6 132.5 134.0 Diluted weighted average shares outstanding 132.8 136.2 133.5 136.9 Table 2 HARRIS CORPORATION FY '09 Third Quarter Summary Business Segment Information (Unaudited) Three Quarter Ended Quarters Ended April 3, March 28, April 3, March 28, 2009 2008 2009 2008 (In millions) Revenue RF Communications $439.1 $391.9 $1,292.5 $1,065.5 Government Communications Systems 648.7 608.2 2,005.8 1,836.8 Broadcast Communications 132.2 158.6 453.4 468.9 Harris Stratex Networks 158.1 178.2 544.8 531.6 Corporate eliminations (16.4) (7.3) (43.7) (25.0) $1,361.7 $1,329.6 $4,252.8 $3,877.8 Income Before Income Taxes and Minority Interest Segment Operating Income (Loss): RF Communi- cations $151.3 $141.4 $437.5 $376.4 Government Communi- cations Systems 73.9 21.4 225.4 152.5 Broadcast Communi- cations 1.9 7.1 19.2 25.7 Harris Stratex Networks (34.1) 9.2 (317.7) 7.4 Unallocated Corporate expense (18.8) (18.2) (56.8) (55.2) Corporate eliminations (4.9) (1.6) (14.7) (4.3) Non-operating income (loss) 6.6 2.8 (2.2) 8.7 Net interest expense (12.6) (12.0) (37.3) (37.3) $163.3 $150.1 $253.4 $473.9 Table 3 HARRIS CORPORATION FY '09 Third Quarter Summary CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) Three Quarters Ended April 3, March 28, 2009 2008 (In millions) Operating Activities Net income $194.3 $322.5 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 127.5 125.8 Purchased in-process research and development write-off 2.4 1.4 Share-based compensation 27.5 29.8 Non-current deferred income taxes (7.6) 2.3 Gain on the sale of securities available-for-sale --- (4.8) Impairment of securities available-for-sale 7.6 --- Impairment of goodwill and other intangible assets 301.0 --- Minority interest in Harris Stratex Networks, Inc., net of tax (155.1) 2.4 (Increase) decrease in: Accounts and notes receivable (30.0) (96.7) Inventories (48.0) (90.3) Increase (decrease) in: Accounts payable and accrued expenses (66.2) 67.4 Advance payments and unearned income 24.0 13.8 Income taxes (3.6) (19.2) Other 30.7 3.6 Net cash provided by operating activities 404.5 358.0 Investing Activities Cash paid for acquired businesses (9.1) (12.8) Additions of property, plant and equipment (78.4) (84.2) Additions of capitalized software (18.5) (24.7) Cash paid for short-term investments available-for-sale (1.2) (8.4) Proceeds from the sale of short-term investments 3.7 25.4 available-for-sale Proceeds from the sale of securities available-for-sale --- 7.1 Net cash used in investing activities (103.5) (97.6) Financing Activities Proceeds from borrowings 78.5 450.2 Repayment of borrowings (80.5) (541.3) Payment of treasury lock --- (8.8) Proceeds from exercise of employee stock options 7.6 31.6 Repurchases of common stock (132.2) (209.3) Cash dividends (80.1) (61.3) Net cash used in financing activities (206.7) (338.9) Effect of exchange rate changes on cash and cash equivalents (12.3) 2.1 Net increase (decrease) in cash and cash equivalents 82.0 (76.4) Cash and cash equivalents, beginning of year 370.0 368.3 Cash and cash equivalents, end of quarter $452.0 $291.9 Supplemental disclosure of noncash investing and financing activities: Common stock issued in exchange for 3.5% convertible debentures, due fiscal 2023 $--- $163.5 Table 4 HARRIS CORPORATION FY '09 Third Quarter Summary CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) April 3, June 27, 2009 2008 ---- ---- (In millions) Assets Cash and cash equivalents $452.0 $370.0 Short-term investments 0.6 3.1 Marketable equity securities 3.4 19.3 Receivables 886.3 859.0 Inventories 660.7 610.4 Current deferred income taxes 111.7 117.2 Other current assets 72.8 73.5 Property, plant and equipment 467.1 482.2 Goodwill 1,210.0 1,547.3 Identifiable intangible assets 304.8 367.0 Other non-current assets 162.6 178.5 ----- ----- $4,332.0 $4,627.5 ======== ======== Liabilities and Shareholders' Equity Short-term debt $18.4 $8.5 Accounts payable 339.7 390.8 Compensation and benefits 177.9 191.9 Other accrued items 276.8 239.1 Advance payments and unearned income 170.5 146.4 Income taxes payable 12.9 22.9 Current portion of long-term debt 0.8 5.7 Non-current deferred income taxes 24.2 29.8 Long-term debt 827.5 831.8 Other long-term liabilities 128.2 156.3 Minority interest in Harris Stratex Networks, Inc. 175.8 330.3 Shareholders' equity 2,179.3 2,274.0 ------- ------- $4,332.0 $4,627.5 ======== ======== HARRIS CORPORATION FY '09 Third Quarter Summary RECONCILIATION OF NON-GAAP FINANCIAL MEASURES AND REGULATION G DISCLOSURE To supplement our condensed consolidated financial statements presented in accordance with U.S. generally accepted accounting principles (GAAP), we provide additional measures of segments' operating income (loss); cost of product sales and services; engineering, selling and administrative expenses; income (loss) before income taxes and minority interest; income taxes; minority interest; net income (loss); and net income (loss) per diluted share adjusted to exclude certain costs, charges, expenses, gains and losses. Harris management believes that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is useful to investors in understanding period- over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. Harris management also believes that these non- GAAP financial measures enhance the ability of investors to analyze Harris business trends and to understand Harris performance. In addition, Harris may utilize non-GAAP financial measures as a guide in its forecasting, budgeting, and long-term planning process and to measure operating performance for some management compensation purposes. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP. A reconciliation of these non-GAAP financial measures with the most directly comparable financial measures calculated in accordance with GAAP follows: Table 5 HARRIS CORPORATION FY '09 Third Quarter Summary Revenue, Net Income and Net Income per Diluted Share, Excluding the Results of Harris Stratex Networks, Inc. (Unaudited) Three Quarter Ended Quarters Ended April 3, March 28, Percent April 3, March 28, Percent 2009 2008 Change 2009 2008 Change (In millions, except per share amounts) Revenue $1,361.7 $1,329.6 $4,252.8 $3,877.8 Harris Stratex Networks revenue, net of elimin- ations (A) (156.6) (176.6) (541.9) (528.6) Revenue, excluding the results of Harris Stratex Net- works $1,205.1 $1,153.0 5% $3,710.9 $3,349.2 11% Net income $114.2 $108.0 $194.3 $322.5 Harris Stratex Networks impact to net income (A) 21.7 (1.8) 201.6 (3.5) Net income, exclud- ing the results of Harris Stratex Net- works $135.9 $106.2 28% $395.9 $319.0 24% Income per diluted share $0.86 $0.78 $1.46 $2.35 Harris Stratex Networks impact to income per diluted share (A) 0.16 --- 1.51 (0.02) Income per diluted share, excluding the results of Harris Stratex Net- works $1.02 $0.78 31% $2.97 $2.33 27% Table 6 HARRIS CORPORATION FY '09 Third Quarter Summary Comparison of Harris Stratex Networks Segment GAAP and Non-GAAP Operating Income to that Reported by Harris Stratex Networks, Inc. (Unaudited) Quarter Ended Quarter Ended April 3, 2009 March 28, 2008 As Reported by As Reported by Harris Harris Stratex Stratex Harris Networks Harris Networks (In millions) Operating Income (Loss) - As Reported $(34.1) $(34.1) $9.2 $9.2 Adjustments: Stratex combination- related costs --- 0.3 1.5 1.5 Acquisition- related costs --- 2.4 --- --- FAS 123R expense --- 0.5 --- 2.1 Restructuring costs --- 0.5 --- --- Other identifiable intangible amortization --- 3.2 --- 3.7 Impairment of assets --- 32.7 --- --- Operating Income - Non-GAAP $(34.1) $5.5 $10.7 $16.5 Table 7 HARRIS CORPORATION FY '09 Third Quarter Summary Reconciliation of FY '08 GAAP Income per Diluted Share and FY '09 GAAP Income per Diluted Share Guidance to Non-GAAP Income per Diluted Share, Excluding the Results of Harris Stratex Networks (Unaudited) Fiscal Year 2008 Fiscal Year 2009 (Actual) (Guidance) Percent Change GAAP income per diluted share $3.26 $1.50 to $1.60 (54)% to (51)% Harris Stratex Networks impact to GAAP income per diluted share (A) $0.07 $2.38 GAAP income per diluted share - excluding Harris Stratex Networks $3.33 $3.88 to $3.98 17% to 20% Charges associated with the acquisition of Multimax Incorporated (B) $0.01 --- Charges associated with the acquisition of Zandar Technologies plc (C) $0.01 --- Charges associated with the acquisition of Tyco Electronics Wireless Systems (D) --- $0.05 Non-GAAP income per diluted share - excluding Harris Stratex Networks $3.35 $3.93 to $4.03 17% to 20% HARRIS CORPORATION FY '09 Third Quarter Summary RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (Unaudited) Notes to tables 5 through 7: Note A - Assumes Harris Stratex Networks will become a discontinued operation prior to the end of fiscal 2009. As a result, guidance and actual results have been adjusted to exclude the results of Harris Stratex Networks. Note B - Adjustment for the $.01 per diluted share impact of integration and other charges associated with our acquisition of Multimax Incorporated. Note C - Adjustment for the $.01 per diluted share impact of integration and other charges associated with our acquisition of Zandar Technologies plc. Note D - Adjustment for the estimated impact of $.05 per diluted share for fiscal 2009 related to integration and other charges associated with our pending acquisition of Tyco Electronics Wireless Systems business. Additional Note Relating to Non-GAAP Earnings per Share Guidance for Fiscal 2010: Non-GAAP earnings per share guidance for fiscal 2010 excludes acquisition-related costs. At this time a reconciliation to GAAP earnings per share guidance for fiscal 2010 is not available without unreasonable effort.

Harris Corporation

CONTACT: Investor Relations inquiries: Pamela Padgett, +1-321-727-9383,
pamela.padgett@harris.com, Media inquiries: Jim Burke, +1-321-727-9131,
jim.burke@harris.com, For additional information, contact Harris Corporation
at webmaster@harris.com

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

Atmel Reports First Quarter 2009 Financial Results

SAN JOSE, Calif., May 5 /PRNewswire-FirstCall/ -- Atmel(R) Corporation today announced financial results for the first quarter ended March 31, 2009.

Revenues for the first quarter of 2009 were $271.5 million, an 18.9% decrease compared to $334.6 million for the fourth quarter of 2008 and a 34.0% decrease compared to $411.2 million for the first quarter ended March 31, 2008.

Net income, on a GAAP basis, for the first quarter of 2009 totaled $3.6 million or $0.01 per diluted share. This compares to a net loss of $(24.4) million or $(0.05) per diluted share for the fourth quarter of 2008 and net income of $6.8 million or $0.02 per diluted share for the year-ago quarter.

Non-GAAP net income for the first quarter of 2009 totaled $20.1 million or $0.04 per diluted share compared to net income of $4.8 million or $0.01 per diluted share for the fourth quarter of 2008 and $13.3 million or $0.03 per diluted share for the year-ago quarter.

Gross profit, as a percent of revenue, was 35.1% for the first quarter of 2009 and within the internal expectations announced by the Company in February 2009. This compares to gross profit of 39.7% for the fourth quarter of 2008 and 35.5% for the year-ago quarter.

"We are pleased with the substantial progress we achieved in reducing operating costs this quarter, especially in light of the revenue softness," said Steve Laub, Atmel's President and Chief Executive Officer. "Although visibility remains limited, we are seeing signs that order patterns have stabilized as bookings in March showed signs of improvement."

Operating loss was $(20.5) million for the first quarter of 2009, or (7.6)% of revenue. This compares to an operating loss of $(18.2) million for the fourth quarter of 2008 and an operating profit of $15.4 million for the first quarter of 2008. Included in the first quarter 2009 operating loss was $8.5 million of net charges related to acquisition, restructuring, grant repayments and gain on sale of assets.

Stock-based compensation expense was $5.4 million for the first quarter of 2009, compared to $9.1 million for the fourth quarter of 2008 and $6.3 million for the year-ago quarter.

Income tax benefit totaled $27.7 million for the first quarter of 2009. This compares to an income tax provision of $3.5 million for the fourth quarter of 2008 and $3.2 million for the first quarter of 2008. The income tax benefit for the first quarter of 2009 was the result of the release of reserves related to certain foreign R&D tax credits that the Company realized in the quarter.

Combined cash balances (cash and cash equivalents plus short-term investments) totaled $416.9 million at the end of the first quarter of 2009, a decrease of $23.7 million from the end of the prior quarter. Not included in this balance is $17.2M of restricted cash required as a result of the lower borrowing base from our revolving line of credit. Cash provided from operations totaled approximately $5.6 million for the first quarter of 2009. This compares to $33.7 million for the fourth quarter of 2008 and cash used in operations of $40.2 million for the first quarter of 2008.

The Company's effective average exchange rate in the first quarter of 2009 was approximately $1.32 to the euro, compared to $1.35 to the euro in the fourth quarter of 2008 and $1.47 to the euro in the year-ago period. A $0.01 decrease in the dollar/euro exchange rate increases operating income by approximately $0.3 million each quarter.

First Quarter 2009 and Recent Operational Highlights -- Gartner Confirms Atmel as Fastest Growing Top Ten 8-bit Microcontroller Supplier for 2008 -- Announced the pursuit of strategic alternatives for the ASIC business and related manufacturing assets -- Completed the previously announced cost reduction actions in North America and Europe with an expected annual savings of $32 million -- Implemented additional cost and headcount reductions in North America with an expected annual savings of $13 million beginning in the second quarter of 2009 Recent Product Highlights -- Awarded Product of the Year by Electronic Products China for Touchscreen Devices -- Low Cost 4-Channel QTouch Capacitive Touch Button Controller Targets Mobile Devices -- New picoPower(TM) AVR(R) ATtiny10 Takes Industry's Leading Position in 6-pin Microcontrollers -- Launched New AVR32 Microcontroller with High Speed Communication for Digital Audio Solutions -- Introduced New Family of 0.7V tinyAVR Microcontrollers -- Secure Microcontroller with SERMEPA's Advantis Crypto Smart Card Receives VISA Approval -- Introduced Highly Integrated System-in-Package Solution for Automotive LIN Networking Applications Business Outlook

Due to the current macroeconomic environment and limited visibility, the Company expects second quarter 2009 revenues will be up in the range of 1% to 4% on a sequential basis.

Non-GAAP

Non-GAAP net income excludes charges related to restructuring activities, acquisitions, grant repayments, gain on sale of assets, and stock-based compensation, as well as pension benefit related to fab sale, distributor bad debt expense (recovery), unsolicited M&A expense and the income tax effect of these excluded items. A reconciliation of GAAP results to non-GAAP results is included following the financial statements below.

Conference Call

Atmel will hold a teleconference at 2:00 p.m. PT today to discuss the first quarter 2009 financial results. The conference call will be webcast live and can also be monitored by dialing 1-800-374-0405 or 1-706-634-5185. The conference ID number is 97406411 and participants are encouraged to initiate their calls at least 10 minutes in advance of the 2:00 p.m. PT start time to ensure a timely connection. The webcast can be accessed at http://www.atmel.com/ir/ and will be archived for 12 months.

A replay of the May 5, 2009 conference call will be available today at approximately 5:00 p.m. PT and will run for 48 hours. The replay access numbers are 1-800-642-1687 within the U.S. and 1-706-645-9291 for all other locations. The access code is 97406411.

About Atmel

Atmel is a worldwide leader in the design and manufacture of microcontrollers, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components. Leveraging one of the industry's broadest intellectual property (IP) technology portfolios, Atmel provides the electronics industry with complete system solutions focused on consumer, industrial, security, communications, computing and automotive markets.

Safe Harbor for Forward-Looking Statements

Information in this release regarding Atmel's forecasts, outlook, expectations and beliefs are forward-looking statements that involve risks and uncertainties. These statements include statements about order patterns for our products and future operating and financial performance including second quarter 2009 revenues. All forward-looking statements included in this release are based upon information available to Atmel as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions, the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new products and technologies, ability to ramp new products into volume production, industry wide shifts in supply and demand for semiconductor products, industry and/or Company overcapacity, effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets and the impact of foreign exchange rates, the ability to realize the anticipated benefits of our recent strategic transactions, restructuring plans and other initiatives in a timely manner or at all, unanticipated costs and expenses or the inability to identify expenses which can be eliminated, the market price of our common stock, compliance with U.S. and international trade and export laws and regulations by us and our distributors, unfavorable results of legal proceedings and other risks detailed from time to time in Atmel's SEC reports and filings, including our Form 10-K for the year ended December 31, 2008, filed on March 2, 2009, and our subsequent Form 10-Q reports. Atmel assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise.

Investor Contact: Media Contact: Robert Pursel Barrett Golden / Sharon Stern Director of Investor Relations Joele Frank, Wilkinson Brimmer Katcher 408-487-2677 212-355-4449 Atmel Corporation Condensed Consolidated Balance Sheets (In thousands) (Unaudited) March 31, December 31, 2009 2008 ---- ---- Current assets Cash and cash equivalents $384,989 $408,926 Short-term investments 31,897 31,707 Restricted cash 17,272 - Accounts receivable, net 172,943 184,698 Inventories 244,870 324,016 Current assets held for sale 115,879 - Prepaid and other current assets 47,333 77,542 ------ ------ Total current assets 1,015,183 1,026,889 Fixed assets, net 175,096 383,107 Goodwill 50,039 51,010 Intangible assets, net 32,362 34,121 Non-current assets held for sale 181,833 - Other assets 36,419 35,527 ------ ------ Total assets $1,490,932 $1,530,654 ========== ========== Current liabilities Current portion of long-term debt $127,221 $131,132 Trade accounts payable 82,933 116,392 Accrued and other liabilities 138,288 207,017 Current liabilities held for sale 64,537 - Deferred income on shipments to distributors 39,675 41,512 ------ ------ Total current liabilities 452,654 496,053 Long-term debt less current portion 11,999 13,909 Long-term liabilities held for sale 12,138 - Other long-term liabilities 209,031 218,608 ------- ------- Total liabilities 685,822 728,570 ------- ------- Stockholders' equity 805,110 802,084 ------- ------- Total liabilities and stockholders' equity $1,490,932 $1,530,654 ========== ========== Atmel Corporation Condensed Consolidated Statements of Operations (In thousands, except per share data) (Unaudited) Three Months Ended ------------------- March 31, December 31, March 31, 2009 2008 2008 ---- ---- ---- Net revenues $271,493 $334,610 $411,237 Operating expenses Cost of revenues 176,088 201,659 265,183 Research and development 52,557 61,859 66,377 Selling, general and administrative 54,918 77,163 63,562 Acquisition-related charges 5,499 6,504 3,711 Charges for (credit) from grant repayments 765 254 (119) Restructuring charges 2,352 8,115 27,908 Gain on sale of assets (164) (2,706) (30,758) ---- ------ ------- Total operating expenses 292,015 352,848 395,864 ------- ------- ------- (Loss) income from operations (20,522) (18,238) 15,373 ------- ------- ------ Interest and other expense, net (3,545) (2,590) (5,387) ------ ------ ------ (Loss) income before income taxes (24,067) (20,828) 9,986 Income tax benefit (provision) 27,693 (3,524) (3,198) ------ ------ ------ Net income (loss) $3,626 $(24,352) $6,788 ====== ========= ====== Basic net income (loss) per share: Net income (loss) $0.01 $(0.05) $0.02 ===== ====== ===== Weighted-average shares used in basic net income (loss) per share calculations 449,685 448,524 444,670 ======= ======= ======= Diluted net income (loss) per share: Net income (loss) $0.01 $(0.05) $0.02 ===== ====== ===== Weighted-average shares used in diluted net income (loss) per share calculations 456,431 448,524 447,643 ======= ======= ======= Atmel Corporation Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income (In thousands, except per share data) (Unaudited) Three Months Ended ------------------- March 31, December 31, March 31, 2009 2008 2008 ---- ---- ---- GAAP net income (loss) $3,626 (24,352) 6,788 Special items: Stock-based compensation expense 5,382 9,050 6,307 Acquisition-related charges 5,499 6,504 3,711 Charges for (credit) from grant repayments 765 254 (119) Restructuring charges 2,352 8,115 27,908 Gain on sale of assets (164) (2,706) (30,758) Pension benefit related to fab sale - (4,267) - Distributor bad debt expense (recovery) (2,000) 11,717 - Unsolicited M&A expense 4,934 1,244 - Income tax effect of non-GAAP items (322) (784) (500) ---- ---- ---- Total special items 16,446 29,127 6,549 ------ ------ ----- Non-GAAP net income $20,072 $4,775 $13,337 ------- ------ ------- Diluted non-GAAP net income per share: Net income $0.04 $0.01 $0.03 ===== ===== ===== Non-GAAP weighted- average shares used in diluted non-GAAP net income per share calculations 467,126 466,901 453,100 ======= ======= ======= Reconciliation of GAAP to non-GAAP shares used in diluted income per share calculations: Three Months Ended ------------------- March 31, December 31, March 31, 2009 2008 2008 ---- ---- ---- Diluted weighted-average shares used in per share calculations - GAAP 456,431 448,524 447,643 Dilutive stock awards 10,695 18,377 5,457 ------ ------ ----- Diluted weighted-average shares used in per share calculations - non-GAAP 467,126 466,901 453,100 ======= ======= ======= Notes to Non-GAAP Financial Measures

To supplement its consolidated financial results presented in accordance with GAAP, Atmel uses non-GAAP financial measures, including non-GAAP net income and non-GAAP net income per diluted share, which are adjusted from the most directly comparable GAAP financial measures to exclude certain items, as shown above and described below. Management believes that these non-GAAP financial measures reflect an additional and useful way of viewing aspects of Atmel's operations that, when viewed in conjunction with Atmel's GAAP results, provide a more comprehensive understanding of the various factors and trends affecting Atmel's business and operations.

Atmel uses each of these non-GAAP financial measures for internal purposes and believes that these non-GAAP measures provide meaningful supplemental information regarding operational and financial performance. Management uses these non-GAAP measures for strategic and business decision making, internal budgeting, forecasting and resource allocation processes.

Atmel believes that providing these non-GAAP financial measures, in addition to the GAAP financial results, is useful to investors because the non-GAAP financial measures allow investors to see Atmel's results "through the eyes" of management as these non-GAAP financial measures reflect Atmel's internal measurement processes. Management believes that these non-GAAP financial measures enable investors to better assess changes in each key element of Atmel's operating results across different reporting periods on a consistent basis. Thus, management believes that each of these non-GAAP financial measures provides investors with another method for assessing Atmel's operating results in a manner that is focused on the performance of its ongoing operations. In addition, these non-GAAP financial measures facilitate comparisons to Atmel's historical operating results and to competitors' operating results.

There are limitations in using non-GAAP financial measures because they are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. In addition, non-GAAP financial measures may be limited in value because they exclude certain items that may have a material impact upon Atmel's reported financial results. Management compensates for these limitations by providing investors with reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for or superior to the most directly comparable GAAP financial measures. The non-GAAP financial measures supplement, and should be viewed in conjunction with, GAAP financial measures. Investors should review the reconciliations of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in above.

As presented in the "Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income" tables above, each of the non-GAAP financial measures excludes one or more of the following items:

- Stock-based compensation expense.

Stock-based compensation expense relates primarily to equity awards such as stock options and restricted stock units. Stock-based compensation is a non-cash expense that varies in amount from period to period and is dependent on market forces that are often beyond Atmel's control. As a result, management excludes this item from Atmel's internal operating forecasts and models. Management believes that non-GAAP measures adjusted for stock-based compensation provide investors with a basis to measure Atmel's core performance against the performance of other companies without the variability created by stock-based compensation as a result of the variety of equity awards used by other companies and the varying methodologies and assumptions used.

- Acquisition-related charges.

Acquisition-related charges include: (1) in-process research and development, which relates to projects in process as of the acquisition date that have not reached technological feasibility and are immediately expensed, (2) amortization of intangibles, which include acquired intangibles such as customer relationships, backlog, core developed technology, trade name and non-compete agreement, and (3) contingent compensation expense, which include compensation resulting from the employment retention of certain key employees established in accordance with the terms of the acquisitions. In most cases, these acquisition-related charges are not factored into management's evaluation of potential acquisitions or Atmel's performance after completion of acquisitions, because they are not related to Atmel's core operating performance. In addition, the frequency and amount of such charges can vary significantly based on the size and timing of acquisitions and the maturities of the businesses being acquired. Excluding acquisition-related charges from non-GAAP measures provides investors with a basis to compare Atmel against the performance of other companies without the variability caused by purchase accounting.

- Charges for (credit) from grant repayments.

Grant repayments primarily relate to contractual obligations to repay incentive amounts received from various government entities recorded in prior periods (including interest) as a result of restructuring activity. Atmel excludes these amounts from non-GAAP financial measures primarily because these costs are not incurred on an on-going basis, consistent with restructuring charges and other non-recurring types of charges included in the condensed consolidated statements of operations.

Restructuring charges.

Restructuring charges primarily relate to expenses necessary to make infrastructure-related changes to Atmel's operating costs. Restructuring charges are excluded from non-GAAP financial measures because they are not considered core operating activities and such costs have not historically occurred in each year. Although Atmel has engaged in various restructuring activities in the past, each has been a discrete event based on a unique set of business objectives. Management believes that it is appropriate to exclude restructuring charges from Atmel's non-GAAP financial measures, as it enhances the ability of investors to compare Atmel's period-over-period operating results from continuing operations.

- Gain on sale of assets.

Atmel recognizes gains resulting from the sale of certain non-strategic business assets that no longer align with Atmel's long-term operating plan. Atmel excludes these items from its non-GAAP financial measures primarily because these gains are one-time in nature and generally not reflective of the ongoing operating performance of Atmel's business and can distort the period-over-period comparison.

- Pension benefit related to fab sale.

Pension benefit related to the reduction of pension liability and the release of related accumulated other comprehensive income as a result of Atmel's sale of its manufacturing operations in Heilbronn, Germany. Management believes that it is appropriate to exclude this adjustment from Atmel's non-GAAP financial measures, as it enhances the ability of investors to compare Atmel's period-over-period operating results from continuing operations.

- Distributor Bad Debt Expense (Recovery)

Distributor bad debt (recovery) expense related to a reserve and subsequent partial collection for receivables from an Asian distributor whose business was extraordinarily impacted following their addition to the US government's Entity List which prohibits the Company from shipping products to the distributor. Management believes that it is appropriate to exclude this adjustment from Atmel's non-GAAP financial measures, as it enhances the ability of investors to compare Atmel's period-over-period operating results from continuing operations.

- Unsolicited M&A expense.

The Company incurred certain expenses to advise the Company concerning the take-over bid from Microchip Technology, Inc. Management believes that it is appropriate to exclude this adjustment from Atmel's non-GAAP financial measures, as it enhances the ability of investors to compare Atmel's period-over-period operating results from continuing operations.

- Income tax effect of non-GAAP items.

Atmel adjusts for the income tax effect resulting from the non-GAAP adjustments as described above.

Atmel Corporation

CONTACT: Investor, Robert Pursel, Director of Investor Relations of
Atmel, +1-408-487-2677, or Media, Barrett Golden, or Sharon Stern, both of
Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449

WebMD Announces First Quarter Financial ResultsTotal Revenue Increased 12%; Online Advertising Increased 16%WebMD Achieves Record Traffic with 61.6 Million Unique Monthly Users and 1.5 Billion Quarterly Page Views

NEW YORK, May 5 /PRNewswire-FirstCall/ -- WebMD Health Corp. today announced financial results for the three months ended March 31, 2009.

"We are pleased that even in this economic environment WebMD continues to deliver strong results," said Wayne Gattinella, President and CEO. "Our network traffic from both consumers and physicians continues to expand organically. Advertising demand on WebMD remains strong and our advertising revenue is growing significantly faster than the market overall. Even as many large biotechnology, pharmaceutical and consumer products companies are reducing their overall ad budgets this year, WebMD is benefiting as these companies consolidate their spending with fewer, high quality media properties."

Financial Summary

Revenue for the first quarter was $90.3 million, compared to $80.7 million in the prior year period, an increase of 12%. Earnings before interest, taxes, non-cash and other items ("Adjusted EBITDA") for the first quarter was $18.7 million or $0.32 per share, compared to $16.3 million or $0.28 per share in the prior year period, an increase of 14%.

Income from continuing operations for the first quarter was $3.2 million or $0.06 per share, compared to a loss of $(23.0) million or $(0.40) per share in the prior year period. Loss from discontinued operations was $(423) thousand in the first quarter, compared to $(372) thousand in the prior year. Net income for the first quarter was $2.8 million or $0.05 per share, compared to a net loss of $(23.3) million or $(0.40) per share in the prior year period. Loss from continuing operations and net loss for the prior year period include an impairment charge of $27.4 million related to auction rate securities.

WebMD has decided to divest its Little Blue Book print directory business which is not strategic to its business. Accordingly, the Little Blue Book print directory business is now reflected as discontinued operations in the Company's financial statements for current and prior periods. WebMD had anticipated in its previously issued financial guidance that the Little Blue Book print directory business would have contributed $1.5 million in revenue and reduced Adjusted EBITDA by $(300) thousand in the first quarter of 2009.

WebMD had approximately $332 million in cash and investments at March 31, 2009.

Operating Highlights

As a result of WebMD's decision to divest the Little Blue Book print directory business, WebMD is no longer presenting a stand-alone publishing segment in its financial statements. WebMD the Magazine and other print products are reflected in Print revenue. Content syndication and other revenues are now included in Advertising and Sponsorship revenue.

Advertising and sponsorship revenue was $65.4 million for the first quarter, compared to $56.5 million in the prior year period, an increase of 16%. Traffic to the WebMD Health Network continued to grow strongly, reaching a record average of 61.6 million unique users per month and total traffic of 1.5 billion page views during the first quarter, increases of 19% and 24%, respectively, from a year ago. In the first quarter, 1.5 million continuing medical education (CME) programs were completed on the WebMD Professional Network, an increase of 29% from the prior year period.

Private portal licensing revenue was $23.0 million for the first quarter compared to $21.9 million in the prior year period, an increase of 5%. The base of large employers and health plans utilizing WebMD's private Health and Benefits portals during the first quarter was 134 as compared to 122 a year ago. During the quarter, WebMD launched integrated platform and coaching services for Mississippi State and School Employees Health Insurance Management Board and the Carolinas Healthcare System.

Print revenue was $1.9 million during the first quarter, a decline of $384 thousand from a year ago. As noted above, WebMD's Little Blue Book print directory business is now reflected as discontinued operations in the Company's financial statements for current and prior periods.

Financial Guidance

WebMD reaffirmed its financial guidance for 2009 today and adjusted it to reflect the reclassification to discontinued operations of its Little Blue Book print directory business. WebMD had anticipated that the Little Blue Book print directory business would have contributed $10 million in revenue and $2 million in Adjusted EBITDA for 2009 in its previously issued financial guidance.

WebMD expects: 2009 revenue to be $410 million to $440 million, an increase of 10% to 18% over 2008; Adjusted EBITDA for 2009 to be $105 million to $120 million, an increase of 12% to 28% over 2008; and income from continuing operations for 2009 to be $28 million to $41 million, or $0.46 to $0.66 per share.

For the quarter ending June 30, 2009, WebMD expects revenue to be in the range of $97 million to $99 million with Adjusted EBITDA representing approximately 22% of revenue. These amounts represent revenue growth of approximately 17% in advertising and sponsorship and 5% in licensing for the second quarter of 2009. Income from continuing operations is estimated to be in the range of 5% to 6% of revenue for the second quarter of 2009.

Additional detail is provided in a schedule attached to this release. Analyst and Investor Conference Call

As previously announced, WebMD will hold a conference call with investors and analysts to discuss its first quarter results at 4:45 pm (eastern) today. The call can be accessed at http://www.wbmd.com/ (in the Investor Relations section). A replay of the audio webcast will be available at the same web address.

About WebMD

WebMD Health Corp. is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers and health plans through our public and private online portals and health-focused publications. WebMD Health Corp. is a subsidiary of HLTH Corporation .

The WebMD Health Network includes WebMD Health, Medscape, MedicineNet, eMedicine, eMedicine Health, RxList and theHeart.org.

All statements contained in this press release and the related analyst and investor conference call, other than statements of historical fact, are forward-looking statements, including those regarding: our guidance on WebMD's future financial results and other projections or measures of WebMD's future performance; market opportunities and WebMD's ability to capitalize on them; the benefits expected from new products or services and from other potential sources of additional revenue; and expectations regarding the market for WebMD's investments in auction rate securities (ARS). These statements speak only as of the date of this press release, are based on our current plans and expectations, and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to: market acceptance of WebMD's products and services; WebMD's relationships with customers and strategic partners; changes in the markets for ARS; and changes in economic, political or regulatory conditions or other trends affecting the healthcare, Internet and information technology industries. Further information about these matters can be found in our Securities and Exchange Commission filings. Except as required by applicable law or regulation, we do not undertake any obligation to update our forward-looking statements to reflect future events or circumstances.

This press release, and the accompanying tables, include both financial measures in accordance with accounting principles generally accepted in the United States of America, or GAAP, as well as certain non-GAAP financial measures. The tables attached to this press release include reconciliations of these non-GAAP financial measures to GAAP financial measures. In addition, an "Explanation of Non-GAAP Financial Measures" is attached to this press release as Annex A.

WebMD(R), Medscape(R), eMedicine(R), MedicineNet(R), RxList(R), Subimo(R), Medsite(R), The Little Blue Book(R) and Summex(R), are trademarks of WebMD Health Corp. or its subsidiaries.

WEBMD HEALTH CORP. CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data, unaudited) Three Months Ended March 31, --------- 2009 2008 ---- ---- Revenue $90,264 $80,650 Costs and expenses: Cost of operations 36,565 30,927 Sales and marketing 27,561 25,149 General and administrative 14,726 13,480 Depreciation and amortization 6,937 6,672 Interest income 975 3,453 Impairment of auction rate securities - 27,406 ----- ------ Income (loss) from continuing operations before income tax provision 5,450 (19,531) Income tax provision 2,211 3,432 ----- ----- Income (loss) from continuing operations 3,239 (22,963) Loss from discontinued operations, net of tax (423) (372) ---- ---- Net income (loss) $2,816 $(23,335) ====== ======== Basic and diluted income (loss) per common share: Income (loss) from continuing operations $0.06 $(0.40) Loss from discontinued operations (0.01) (0.00) ----- ----- Net income (loss) $0.05 $(0.40) ===== ====== Weighted-average shares outstanding used in computing basic and diluted net income (loss) per common share: Basic 57,575 57,636 ====== ====== Diluted 58,109 57,636 ====== ====== WEBMD HEALTH CORP. CONSOLIDATED SEGMENT INFORMATION (In thousands, except per share data, unaudited) Three Months Ended March 31, --------- 2009 2008 ---- ---- Revenue Advertising and sponsorship $65,428 $56,482 Licensing 22,975 21,923 Print 1,861 2,245 ----- ----- $90,264 $80,650 ======= ======= Earnings before interest, taxes, non-cash and other items ("Adjusted EBITDA") (a) $18,688 $16,332 Adjusted EBITDA per basic and diluted ----- ----- common share $0.32 $0.28 ----- ----- Interest, taxes, non-cash and other items (b) Interest income 975 3,453 Depreciation and amortization (6,937) (6,672) Non-cash advertising (1,753) (1,558) Non-cash stock-based compensation (5,523) (3,680) Impairment of auction rate securities - (27,406) Income tax provision (2,211) (3,432) ------ ------ Income (loss) from continuing operations 3,239 (22,963) Loss from discontinued operations, net of tax (423) (372) ---- ---- Net income (loss) $2,816 $(23,335) ====== ======== Basic and diluted income (loss) per common share: Income (loss) from continuing operations $0.06 $(0.40) Loss from discontinued operations (0.01) (0.00) ----- ----- Net income (loss) $0.05 $(0.40) ===== ====== Weighted-average shares outstanding used in computing basic and diluted net income (loss) per common share: Basic 57,575 57,636 ====== ====== Diluted 58,109 57,636 ====== ====== (a) See Annex A - Explanation of Non-GAAP Financial Measures (b) Reconciliation of Adjusted EBITDA to net income (loss) WEBMD HEALTH CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, unaudited) March 31, 2009 December 31, 2008 -------------- ----------------- ASSETS Current assets: Cash and cash equivalents $204,803 $191,659 Accounts receivable, net 90,835 93,082 Current portion of prepaid advertising - 1,753 Other current Assets 11,319 11,358 Assets of discontinued operations 11,839 12,575 ------ ------ Total current assets 318,796 310,427 Investments 127,033 133,563 Property and equipment, net 54,132 54,165 Goodwill 208,967 208,967 Intangible assets, net 24,520 26,237 Other assets 21,269 22,573 ------ ------ $754,717 $755,932 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accrued expenses $20,355 $31,241 Deferred revenue 84,574 79,613 Due to HLTH 199 427 Liabilities of discontinued operations 3,256 2,599 ----- ----- Total current liabilities 108,384 113,880 Other long-term Liabilities 8,081 8,334 Stockholders' equity 638,252 633,718 ------- ------- $754,717 $755,932 ======== ======== WEBMD HEALTH CORP. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands, unaudited) Three Months Ended March 31, ---------------------------- 2009 2008 ---- ---- Cash flows from operating activities: Net income (loss) $2,816 $(23,335) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Loss from discontinued operations, net of tax 423 372 Depreciation and amortization 6,937 6,672 Non-cash advertising 1,753 1,558 Non-cash stock-based compensation 5,523 3,680 Deferred and other income taxes 2,097 2,372 Impairment of auction rate securities - 27,406 Changes in operating assets and liabilities: Accounts receivable 2,247 10,449 Other assets (689) (164) Accrued expenses and other long-term liabilities (11,140) (8,791) Due to HLTH (228) 1,329 Deferred revenue 4,961 11,231 ----- ------ Net cash provided by continuing operations 14,700 32,779 Net cash provided by discontinued operations 1,062 1,912 ----- ----- Net cash provided by operating activities 15,762 34,691 Cash flows from investing activities: Proceeds from maturities and sales of available-for-sale securities 600 40,350 Purchases of available-for-sale securities - (127,900) Purchases of property and equipment (5,290) (2,626) Cash received from sale of business, net of fees 250 985 --- --- Net cash used in continuing operations (4,440) (89,191) Net cash used by discontinued operations (5) (11) -- --- Net cash used in investing activities (4,445) (89,202) Cash flows from financing activities: Proceeds from issuance of common stock 1,827 589 ----- --- Net cash provided by financing activities 1,827 589 Net increase (decrease) in cash and cash equivalents 13,144 (53,922) Cash and cash equivalents at beginning of period 191,659 213,753 ------- ------- Cash and cash equivalents at end of period $204,803 $159,831 ======== ======== FINANCIAL GUIDANCE SUMMARY 2009 Preliminary Financial Guidance (in millions, except per share amounts) Year Ended Year Ending December 31, 2008 December 31, 2009 Unaudited (c) Range (c) ------------------ ------------------ Revenue $373.5 $410.0 $440.0 ====== ====== ====== Earnings before interest, taxes, non-cash and other items ("Adjusted EBITDA") (a) $94.1 $105.0 $120.0 Adjusted EBITDA per diluted common share $1.60 $1.69 $1.94 ----- ----- ----- Interest, taxes, non-cash and other items (b) Interest income 10.4 4.0 4.0 Depreciation and amortization (27.9) (33.0) (30.0) Non-cash advertising (5.1) (1.8) (1.8) Non-cash stock-based compensation (13.3) (26.0) (23.0) Impairment of auction rate securities (27.4) - - Restructuring (2.9) - - Income tax provision (2.2) (19.8) (28.4) ----- ----- ----- Income from continuing operations $25.7 $28.4 $40.8 ===== ===== ===== Income from continuing operations per common share: Basic $0.45 $0.48 $0.69 ===== ===== ===== Diluted $0.44 $0.46 $0.66 ===== ===== ===== Weighted-average shares outstanding used in computing income from continuing operations per common share: Basic 57.7 59.0 59.0 Diluted 58.9 62.0 62.0 (a) See Annex A - Explanation of Non-GAAP Financial Measures (b) Reconciliation of Adjusted EBITDA to income from continuing operations (c) Results for the year ended December 31, 2008 and the guidance for the year ending December 31, 2009 have been adjusted to exclude the discontinued operations of the Little Blue Book print directory business. Additional information regarding forecast for second quarter of 2009: - Revenue is forecasted to be approximately $97 to $99 in quarter ending June 30, 2009 - Adjusted EBITDA as a percentage of revenue is forecasted to be approximately 22% in quarter ending June 30, 2009 - Income from continuing operations as a percentage of revenue is forecasted to be approximately 5% to 6% in quarter ending June 30, 2009 Additional information regarding full year forecast: - Income tax rate for 2009 is forecasted to be approximately 41% of pretax income. The income tax provision excludes any benefit relating to any reversal in 2009 of the valuation allowance against deferred tax assets. - The distribution of the annual revenue is expected to be approximately 76.5% advertising and sponsorship, 21.5% licensing and 2% print. Quarterly revenue distributions may vary from this annual estimate. ANNEX A Explanation of Non-GAAP Financial Measures (All dollar amounts in thousands)

The accompanying WebMD Health Corp. press release and financial tables include both financial measures in accordance with U.S. generally accepted accounting principles, or GAAP, as well as non-GAAP financial measures. The non-GAAP financial measures represent earnings before interest, taxes, non-cash and other items (which we refer to as "Adjusted EBITDA") and related per share amounts. Adjusted EBITDA should be viewed as supplemental to, and not as an alternative for, "income (loss) from continuing operations" or "net income (loss)" calculated in accordance with GAAP. The tables attached to the accompanying press release include reconciliations of non-GAAP financial measures to GAAP financial measures.

Adjusted EBITDA is used by WebMD's management as an additional measure of WebMD's performance for purposes of business decision-making, including developing budgets, managing expenditures, and evaluating potential acquisitions or divestitures. Period-to-period comparisons of Adjusted EBITDA help WebMD's management identify additional trends in WebMD's financial results that may not be shown solely by period-to-period comparisons of income (loss) from continuing operations or net income (loss). In addition, WebMD uses Adjusted EBITDA in the incentive compensation programs applicable to many of its employees in order to evaluate WebMD's performance. WebMD management recognizes that Adjusted EBITDA has inherent limitations because of the excluded items, particularly those items that are recurring in nature. In order to compensate for those limitations, management also reviews the specific items that are excluded from Adjusted EBITDA, but included in income (loss) from continuing operations or net income (loss), as well as trends in those items. The amounts of those items are set forth, for the applicable periods, in the reconciliations of Adjusted EBITDA to income (loss) from continuing operations or to net income (loss) that accompany our press releases containing non-GAAP financial measures, including the reconciliations contained in the tables attached to the accompanying press release.

WebMD believes that the presentation of Adjusted EBITDA is useful to investors in their analysis of WebMD's results for reasons similar to the reasons why WebMD's management finds it useful and because it helps facilitate investor understanding of decisions made by WebMD's management in light of the performance metrics used in making those decisions. In addition, as more fully described below, WebMD believes that providing Adjusted EBITDA, together with a reconciliation of Adjusted EBITDA to income (loss) from continuing operations or to net income (loss), helps investors make comparisons between WebMD and other companies that may have different capital structures, different effective income tax rates and tax attributes, different capitalized asset values and/or different forms of employee compensation. However, Adjusted EBITDA is intended to provide a supplemental way of comparing WebMD with other public companies and is not intended as a substitute for comparisons based on "income (loss) from continuing operations" or "net income (loss)" calculated in accordance with GAAP. In making any comparisons to other companies, investors need to be aware that companies use different non-GAAP measures to evaluate their financial performance. Investors should pay close attention to the specific definition being used and to the reconciliation between such measures and the corresponding GAAP measures provided by each company under applicable SEC rules.

The following is an explanation of the items excluded by WebMD from Adjusted EBITDA but included in income (loss) from continuing operations:

-- Depreciation and Amortization. Depreciation and amortization expense is a non-cash expense relating to capital expenditures and intangible assets arising from acquisitions that are expensed on a straight-line basis over the estimated useful life of the related assets. WebMD excludes depreciation and amortization expense from Adjusted EBITDA because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of WebMD's business operations and (ii) such expenses can vary significantly between periods as a result of new acquisitions and full amortization of previously acquired tangible and intangible assets. Accordingly, WebMD believes this exclusion assists management and investors in making period-to-period comparisons of operating performance. Investors should note that use of tangible and intangible assets contributed to revenue in the periods presented and will contribute to future revenue generation and should also note that such expenses will recur in future periods. -- Stock-Based Compensation Expense. Stock-based compensation expense is a non-cash expense arising from the grant of stock-based awards to employees. WebMD believes that excluding the effect of stock-based compensation from Adjusted EBITDA assists management and investors in making period-to-period comparisons in its operating performance because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of WebMD's business operations and (ii) such expenses can vary significantly between periods as a result of the timing of grants of new stock-based awards, including grants in connection with acquisitions. Additionally, WebMD believes that excluding stock-based compensation from Adjusted EBITDA assists management and investors in making meaningful comparisons between WebMD's operating performance and the operating performance of other companies that may use different forms of employee compensation or different valuation methodologies for their stock-based compensation. Investors should note that stock-based compensation is a key incentive offered to employees whose efforts contributed to the operating results in the periods presented and are expected to contribute to operating results in future periods. Investors should also note that such expenses will recur in the future. -- Non-Cash Advertising Expense. This expense relates to the usage of non-cash advertising obtained from News Corporation ("Newscorp") in exchange for equity securities issued by our parent, HLTH Corporation in 2000. The advertising is available only on various Newscorp properties, primarily its television network and cable channels, without any cash cost to WebMD and will expire later this year. WebMD excludes this expense from Adjusted EBITDA (i) because it is a non-cash expense, (ii) because it is incremental to other non-television cash advertising expense that WebMD otherwise incurs and (iii) to assist management and investors in comparing its operating results over multiple periods. Investors should note that it is likely that WebMD derives some benefit from such advertising. Non-cash advertising expenses included in the Consolidated Statement of Operations in Sales and Marketing expense were $1,753 and $1,558 for the three months ended March 31, 2009 and 2008. -- Interest Income. Interest income is associated with the level of marketable debt securities and other interest bearing accounts in which WebMD invests. Interest income varies over time due to varying levels of securities available for investment. Transactions that WebMD has entered into in recent periods that have impacted securities available for investment include the initial public offering of equity in WebMD and acquisitions of other companies for varying amounts of cash since our initial public offering. Additional financing transactions as well as potential acquisitions that WebMD may enter into in the future could impact the levels and timing of securities available for investment. WebMD excludes interest income from Adjusted EBITDA (i) because it is not directly attributable to the performance of WebMD's business operations and, accordingly, its exclusion assists management and investors in making period-to-period comparisons of operating performance and (ii) to assist management and investors in making comparisons to companies with different capital structures. Investors should note that interest income will recur in future periods. -- Income Tax (Benefit) Provision. WebMD maintains a valuation allowance on a portion of its net operating loss carryforwards, the amount of which may change from quarter to quarter based on factors that are not directly related to WebMD's results for the quarter. The valuation allowance is either reversed through the statement of operations or additional paid-in capital. The timing of such reversals has not been consistent and as a result, WebMD's income tax expense can fluctuate significantly from period to period in a manner not directly related to WebMD's operating performance. WebMD excludes the income tax (benefit) provision from Adjusted EBITDA (i) because it believes that the income tax (benefit) provision is not directly attributable to the underlying performance of WebMD's business operations and, accordingly, its exclusion assists management and investors in making period-to-period comparisons of operating performance and (ii) to assist management and investors in making comparisons to companies with different tax attributes. Investors should note that income tax (benefit) provision will recur in future periods. -- Other Items. WebMD engages in other activities and transactions that can impact WebMD's overall income (loss) from continuing operations. WebMD excludes these other items from Adjusted EBITDA when it believes these activities or transactions are not directly attributable to the performance of WebMD's business operations and, accordingly, their exclusion assists management and investors in making period-to-period comparisons of operating performance. Investors should note that these other items may recur in future periods. In the accompanying press release and financial tables, WebMD has excluded loss on the impairment of auction rate securities and a restructuring charge from Adjusted EBITDA.

WebMD

CONTACT: Investors, Risa Fisher, +1-212-624-3817, rfisher@webmd.net, or
Media, Kate Hahn, +1-212-624-3760, khahn@webmd.net

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

Energizer Holdings, Inc. Renews Asset Securitization Program

ST. LOUIS, May 5 /PRNewswire-FirstCall/ -- Energizer Holdings, Inc., , today announced the renewal of its asset securitization program at a level of $200 million. Bank of Tokyo-Mitsubishi and Sun Trust Robinson Humphrey are agents, with Bank of Tokyo acting as administrative agent. The program has been renewed for one year, with expiration on May 3, 2010.

Funds received under this financing arrangement are treated as borrowings rather than proceeds from accounts receivable sold for accounting purposes. However, borrowings under this program are not considered debt for covenant compliance purposes under the company's credit agreements and private placement note agreements. At March 31, 2009, a total of $123.9 million was outstanding under the previous program prior to amendment. The total outstanding under this financing arrangement following the amendment on May 5, 2009, was $158.3 million.

About Energizer:

Energizer Holdings, Inc., headquartered in St. Louis, Missouri and incorporated in 1999, is a consumer goods company operating globally in the broad categories of household and personal care products.

Energizer's Household Products Division offers consumers the broadest range of portable power solutions, anchored by the universally recognized Energizer(R) and Eveready(R) brands. The company's comprehensive product portfolio ranges from low-cost carbon zinc batteries suited for discount class of trades and developing markets to the world's longest lasting lithium AA and AAA primary batteries in high drain devices, plus specialty batteries, Energi To Go(R) chargers and a complete line of battery-powered flashlights and lanterns.

Energizer's Personal Care Division offers a diversified range of consumer products in the wet shave, skin care feminine care and infant care categories. The company's portfolio includes well established brand names such as Schick(R) and Wilkinson Sword(R) men's and women's shaving systems and disposable razors; Playtex(R) tampons, gloves and infant feeding products; Banana Boat(R) and Hawaiian Tropic(R) sun care products; and Wet Ones(R) moist wipes.

Energizer Holdings, Inc.

CONTACT: Jacqueline E. Burwitz, Vice President, Investor Relations of
Energizer Holdings, Inc., +1-314-985-2169

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

SED International Holdings to Report Third Quarter 2009 Results on Friday, May 15, 2009Management to Host Teleconference and Webcast on Monday, May 18, 2009 Beginning at 4:15 PM ET

TUCKER, Ga., May 5 /PRNewswire-FirstCall/ -- SED International Holdings, Inc. (BULLETIN BOARD: SECX) , a multinational supply chain management provider and distributor of leading computer technology, wireless communications and consumer electronics, today announced that it will report its results of operations for the three and nine months ended March 31, 2009, on Friday, May 15, 2009.

SED will also host a teleconference on Monday, May 18, 2009 beginning at 4:15 PM Eastern, and invites all interested parties to join management in a discussion regarding its financial results, corporate progression and other meaningful developments. The conference call can be accessed via telephone by dialing toll free 1-877-941-2068 or via webcast on http://www.sedonline.com/. For those unable to participate at that time, a replay of the webcast will be available for 90 days on http://www.sedonline.com/.

ABOUT SED INTERNATIONAL HOLDINGS, INC.

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

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

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

SED International Holdings, Inc.

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

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

U.S. Air Force Targets More Secure Air Space with $30 Million Award to General DynamicsRemote Rekey Modernization program to update information security capabilities for U.S. air defense systems

SCOTTSDALE, Ariz., May 5 /PRNewswire-FirstCall/ -- The U.S. Air Force Cryptologic Programs Systems Group has awarded General Dynamics C4 Systems a $30 million, six-year contract to design, develop, install and support the Remote Rekey Modernization (RRK) program. RRK will enable authorized Air Force personnel at centralized facilities to remotely manage cryptographic keys controlling encryption equipment located throughout the continental United States, Hawaii and Alaska. The total potential value of the contract is $50 million if all options are exercised.

An encryption key contains specific electronic instructions that control how information assurance equipment will secure data, video and images moving through a network. The equipment, enabled by encryption keys, prevents unauthorized users from receiving or accessing sensitive information.

As part of the security services needed for the U.S. Air Force Air Defense Mission, RRK technology will update information security for the Identify Friend or Foe (IFF) and other systems that help to secure the air space over the United States. The design and development phase for the RRK system will last three years, with implementation scheduled for Air Force Northern Command (NORTHCOM) Air Defense Systems in 2013.

"Once in place, the RRK technologies will enable those watching our nation's air space to more quickly respond to operational changes anywhere in the system, any time," said John Cole, vice president of information assurance for General Dynamics C4 Systems. "To optimize and streamline the design and development phase, we're applying our proven and extensive set of cryptographic and key management processes and technologies."

General Dynamics C4 Systems is the prime contractor for the Remote Rekey Modernization program. Team members include SAIC (San Diego, Calif.), Ultra Electronics-ProLogic (Fairmont, W.Va.) and General Dynamics Information Technology (Hampton, Va.).

General Dynamics C4 Systems, a business unit of General Dynamics , is a leading integrator of secure communication and information systems and technology. With more than 10,000 employees worldwide, the company specializes in command and control, communications networking, computing and information assurance for defense, government and select commercial customers in the United States and abroad.

General Dynamics, headquartered in Falls Church, Va., employs approximately 92,900 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about General Dynamics is available online at http://www.generaldynamics.com/.

General Dynamics C4 Systems

CONTACT: Fran Jacques of General Dynamics C4 Systems, +1-480-441-2885,
or Cell, +1-480-586-1886, Fran.Jacques@gdc4s.com

Web Site: http://www.gdc4s.com/

N3LOptics.com Now Delivers In-Store Expertise Through Online Store Front

LAKE FOREST, Calif., May 5 /PRNewswire/ -- N3L Optics announced today that they are extending the functionality of N3LOptics.com to provide customers with the ability to purchase product from their industry-leading assortment of sport performance sunglasses. N3L's new toll free number (866) 621-7646 will give online customers the ability to chose from over 850 performance sunglasses from brands such as Oakley, Rudy Project, Ray-Ban, Revo, Spy, Maui Jim, Costa Del Mar and Smith Optics.

"Our goal is to deliver the same outstanding assortment and customer service at N3LOptics.com as you will find in our retail locations," says Kendra Reichenau, Senior Vice President for N3L Optics.

N3L's commitment to performance eyewear is evident by their in-depth assortment and first-to-market approach with the latest in optical innovations. N3L became one of the first sunglass retailers to carry the revamped collection from Revo, featuring Revo Re-Use(TM) frames and Revo Polarcast(TM) lenses offering an environmentally conscious product line with superior polarized lens technology.

In addition, N3L is now offering the Oakley COMMIT(TM), an innovative performance sunglass designed exclusively for women. Perfect for Mother's Day, the Oakley COMMIT SQ includes an interchangeable lens design that lets you adapt to changing light and optimize performance in virtually any environment.

This month, N3L will be one of the first retailers to launch the Oakley Jawbone(TM). Scheduled to arrive in stores in late May, the Jawbone features Oakley's new SwitchLock(TM) Technology, which allows the lower part of the frame rim to swing open, delivering easy access for quick lens changing and optimized performance in any light condition.

N3L Optics first introduced the sport performance sunglass retail store concept in Denver, CO in May 2008. Since then, N3L has opened four new retail locations in El Paso, TX, San Mateo, CA, Orlando, FL and Dallas, TX. For more information or to purchase the sunglass that is ideal for your active lifestyle, please visit http://www.n3loptics.com/.

About N3L Optics

N3L Optics (Newton's 3 Laws of Motion) is a revolutionary sunglass store committed to carrying the world's best assortment of sport performance optics. Designed specifically for the athlete and outdoor enthusiast, N3L's innovative retail technology and highly trained associates will forever change the way performance eyewear is discovered, ensuring that you will always find the right frame and lens to enhance your active lifestyle. For more information, please visit http://www.n3loptics.com/. N3L Optics is an Oakley company. Oakley is a subsidiary of Luxottica Group (NYSE: LUX; MTA: LUX), a Milan, Italy-based global leader in premium fashion, luxury and sports eyewear. Additional information is available at http://www.oakley.com/ and http://www.luxottica.com/.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090505/LA11440)

(Logo: http://www.newscom.com/cgi-bin/prnh/20090204/LAW071LOGO)

Photo: http://www.newscom.com/cgi-bin/prnh/20090204/LAW071LOGO
http://www.newscom.com/cgi-bin/prnh/20090505/LA11440
http://photoarchive.ap.org/
AP PhotoExpress Network: PRN17
PRN Photo Desk, photodesk@prnewswire.com N3L Optics

CONTACT: Matt Moss of N3L Optics, +1-949-900-7892, mmoss@n3loptics.com

Web Site: http://www.n3loptics.com/

SMTC Corporation Schedules First Quarter Results

TORONTO, May 5 /PRNewswire-FirstCall/ -- SMTC Corporation (TSX: SMX), a global electronics manufacturing services (EMS) provider, has scheduled its first quarter results teleconference.

The teleconference will be held on May 14, 2009 at 5:00 p.m. EDT. Those wishing to listen to the teleconference should access the webcast at the investor relations section of SMTC's website http://www.smtc.com/. A rebroadcast of the webcast will be available on SMTC's website following the teleconference.

Participants should ensure that they have a current version of Microsoft Windows Media Player before accessing the webcast.

Members of the investment community wishing to ask questions during the teleconference may access the teleconference by dialing 416-644-3432 or 1-800-814-4860 ten minutes prior to the scheduled start time. A rebroadcast will be available following the teleconference by dialing 416-640-1917 or 1-877-289-8525 pass code 21305534 followed by the pound key.

About SMTC Corporation: SMTC Corporation, founded in 1985, is a mid-size provider of end-to-end electronics manufacturing services (EMS) including PCBA production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, sustaining engineering and supply chain management services. SMTC facilities span a broad footprint in the United States, Canada, and Mexico, and a partnering relationship in China, with over 1,000 full time employees. SMTC services extend over the entire electronic product life cycle from the development and introduction of new products through to the growth, maturity and end-of-life phases. SMTC offers fully integrated contract manufacturing services with a distinctive approach to global original equipment manufacturers (OEMs) and emerging technology companies primarily within industrial, computing and communication market segments.

SMTC is a public company incorporated in Delaware with its shares traded on the Nasdaq National Market System under the symbol SMTX and on the Toronto Stock Exchange under the symbol SMX. For further information on SMTC Corporation, please visit our website at http://www.smtc.com/ (http://www.smtc.com/)

Note for Investors: The statements contained in this release that are not purely historical are forward-looking statements which involve risk and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These statements may be identified by their use of forward-looking terminology such as "believes", "expect", "may", "should", "would", "will", "intends", "plans", "estimates", "anticipates" and similar words, and include, but are not limited to, statements regarding the expectations, intentions or strategies of SMTC Corporation. For these statements, we claim the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995. Risks and uncertainties that may cause future results to differ from forward-looking statements include the challenges of managing quickly expanding operations and integrating acquired companies, fluctuations in demand for customers' products and changes in customers' product sources, competition in the EMS industry, component shortages, and others discussed in the Company's most recent filings with securities regulators in the United States and Canada. The forward-looking statements contained in this release are made as of the date hereof and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements.

SMTC Corporation

CONTACT: Jane Todd, Senior Vice President, Finance and Chief Financial
Officer, (905) 413-1300, Email: jane.todd@smtc.com

Epson America and EFI Collaborate to Redefine the Proofing Industry With New Epson Stylus Pro 900 Series Proofing Editions

LONG BEACH, Calif., and FOSTER CITY, Calif., May 5 /PRNewswire-FirstCall/ -- Epson America, Inc. and EFI(TM) have joined forces to create what both companies expect will be the most advanced and complete proofing solution on the market to date. The new Epson Stylus(R) Pro 900 Series Proofing Editions combine the unique proofing advantages that come with the Epson Stylus Pro 7900 or 9900 wide format ink jet printers, along with EFI's most robust proofing RIP workflow to date, EFI Colorproof(TM) XF v4.0 for Epson. The end result is a unique and complete solution designed to redefine what's possible for virtually all contract-proofing applications.

"Epson is committed to being the world's leading manufacturer and provider of proofing solutions," said Mark Radogna, group product manager, Epson America, Inc. "This commitment means striving to deliver the best hardware, ink, software, and media on the market, finding new ways to keep advancing those technologies, and taking the kind of confident steps as a company that will keep the industry moving forward. Working with EFI on this ground-breaking proofing solution is a great example of that philosophy in action and we're very confident this collaborative effort will pay off for our customers in many new and exciting ways."

Epson worked closely with EFI to develop the workflow software (RIP) for the Epson Proofing Edition Series. EFI Colorproof XF v4.0 RIP for Epson takes advantage of the latest Adobe(R) PostScript(R) 3 and Adobe Print Engine 2.0 technologies and processes files to ensure consistent and accurate proofs for all types of color print work - commercial or flexographic. And with complete support of Epson's optional SpectroProofer(TM), virtually any color management process is completely automated, reducing complex labor costs significantly.

"This collaboration between us and Epson combines the best of both companies to provide a powerful proofing workflow solution for both commercial and flexographic proofing applications," said Marc Olin, senior vice president and general manager, EFI Advanced Professional Print Software. "Never before has such an innovative proofing solution been brought to market at such a great price point."

The Epson Proofing Edition Series comes with virtually everything needed to begin making contract-quality proofs right out of the box. The solution includes an Epson Stylus Pro 7900 (24-inch) or 9900 (44-inch) wide format ink jet printer, a complete set of Epson UltraChrome(R) HDR ink cartridges, and a full 24-inch roll of Epson Standard Proofing Paper 240. Furthermore, it comes with EFI Colorproof XF 4.0 for Epson (software-based RIP) with pre-installed profiles for Epson's entire line of Professional Proofing Papers.

Availability, Service and Support

The Epson Proofing Edition Stylus Pro 7900 and 9900 are now available through authorized resellers for $7,995 and $9,995 (MSRP) respectively. They are supported by a standard Epson Preferred(SM) Limited Warranty, a one-year program that includes toll-free advanced telephone access Monday through Friday and usually next-business-day on-site service in the unlikely event of any hardware failure. Optional Epson Preferred Plus Service Plans are also available, offering one or two additional years of protection. The optional SpectroProofer is also available through authorized resellers for $1,495 and $2,495 (MSRP) respectively.

About Epson America, Inc.

Epson America, Inc. is the U.S. affiliate of Japan-based Seiko Epson Corporation (SEC) and is a leading provider of digital imaging products that exceed the vision of its customers. The company's extensive range of printers, 3LCD projectors and small- and medium-sized LCDs are renowned for their superior quality, functionality, compactness, and energy efficiency. The Seiko-Epson organization is proud of its ongoing contributions to the global environment and was recently added to the Dow Jones Sustainability World Index, an indicator for leading companies in economic, environmental and social criteria.

About EFI

EFI (http://www.efi.com/) is the world leader in customer-focused digital printing innovation. EFI's award-winning solutions, integrated from creation to print, deliver increased performance, cost savings and productivity. The company's robust product portfolio includes Fiery(R) digital color print servers; VUTEk(R) superwide digital inkjet printers, UV and solvent inks; Rastek(TM) UV wide-format inkjet printers; Jetrion(R) industrial inkjet printing systems; print production workflow and management information software; and corporate printing solutions. EFI maintains 23 offices worldwide. For more information, please contact 800-875-7117.

Note: Epson, Epson Stylus, Epson UltraChrome, and SpectroProofer are trademarks or registered trademarks of Seiko Epson Corp. All other product brand names are trademarks and/or registered trademarks of their respective companies. Epson disclaims any and all rights to these trademarks.

Epson America, Inc.

CONTACT: John Jatinen of Epson America, Inc., +1-562-290-5173,
john_jatinen@ea.epson.com; or Katie Maller of EFI, +1-650-357-3032,
katie.maller@efi.com

Web Site: http://www.epson.com/
http://www.efi.com/

Microsoft Announces Upcoming Events With the Financial CommunityEvents with Microsoft leadership slated for May.

REDMOND, Wash., May 5 /PRNewswire-FirstCall/ -- Microsoft Corp. today announced participation in the following upcoming events with the financial community. Interested parties can view a webcast of these events on Microsoft's Investor Relations Web site at http://www.microsoft.com/msft.

(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO) Live Meeting Series: Privacy Thursday, May 14, 2009 1 p.m. ET/10 a.m. PT Peter Cullen, general manager, chief privacy strategist J.P. Morgan Technology, Media and Telecom Conference 2009 Wednesday, May 20, 2009 8 a.m. ET/5 a.m. PT Ray Ozzie, chief software architect Cowen and Company Technology Media & Telecom Conference Thursday, May 28, 2009 3:40 p.m. ET/12:40 p.m. PT Tami Reller, corporate vice president and chief financial officer, Windows Client Division

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

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

CONTACT: financial analysts and investors, Bill Koefoed, general
manager, Investor Relations of Microsoft Corp., +1-425-706-3703; or press,
Rapid Response Team of Waggener Edstrom Worldwide, +1-503-443-7070,
rrt@waggeneredstrom.com, for Microsoft Corp.

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

ARRIS to Present at J.P. Morgan 37th Annual Global Technology, Media and Telecom Conference

SUWANEE, Ga., May 5 /PRNewswire-FirstCall/ -- ARRIS a global telecommunications technology leader, today announced that Robert Stanzione, ARRIS Chairman & CEO, will participate in the 37th Annual Global Technology, Media and Telecom Conference at the Westin Boston Waterfront on Tuesday, May 19, 2009 at approximately 1:40 pm EDT. Investors may listen to an audio only webcast of the "fire-side chat" format presentation by going to:

http://metameetings.com/webcasts/jpmorgan/technology09/directlink?ticker=A RRS

The webcast of the presentation will be available for replay shortly after the conference and will be archived for 90 days at the link as shown above.

About ARRIS

ARRIS is a global communications technology company specializing in the design, engineering and supply of technology supporting triple- and quad-play broadband services for residential and business customers around the world. The company supplies broadband operators with the tools and platforms they need to deliver reliable telephony, demand driven video, next-generation advertising and high-speed data services. ARRIS products expand and help grow network capacity with access and outside plant construction equipment, reliably deliver voice, video and data services and assure optimal service delivery for end customers. Headquartered in Suwanee, GA, USA, ARRIS has R&D centers in Atlanta; Chicago; State College, PA; Beaverton, OR; Wallingford, CT; Cork, Ireland; and Shenzhen, China, and operates support and sales offices throughout the world. Information about ARRIS products and services can be found at http://www.arrisi.com/.

ARRIS

CONTACT: Jim Bauer, ARRIS Investor Relations, +1-678-473-2647,
jim.bauer@arrisi.com

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

Gaithersburg, Md., Awards Cable Franchise to VerizonVote Paves the Way for Innovative, Competitive Choice for TV Service, Delivered Over the Nation's Most Advanced All-Fiber-Optic Network Straight to Consumers' Homes

GAITHERSBURG, Md., May 5 /PRNewswire/ -- Residents in Gaithersburg are a major step closer to having an innovative, reliable and competitive alternative for their television services, thanks to a unanimous vote by the Gaithersburg City Council on Monday (May 4) authorizing Verizon to offer its fiber-optic-powered FiOS TV.

FiOS TV is delivered over Verizon's all-fiber-optic network, which brings the power and capacity of fiber optics directly into people's homes and has industry-leading quality and reliability. Fiber delivers amazingly sharp pictures and sound, and has the capacity to transmit a wide array of high-definition programming that is so clear and intense it seems to leap from the TV screen. It also delivers Internet download speeds of up to 50 Mbps* (megabits per second) and upload speeds of up to 20 Mbps, as well as high-quality voice services.

In Maryland, Verizon's FiOS TV and FiOS Internet services are available to dozens of communities in Anne Arundel, Baltimore, Harford, Howard, Montgomery and Prince George's counties, including Aberdeen, Annapolis, Bel Air, LaPlata and Rockville. The company will begin offering FiOS in parts of Gaithersburg at the end of this year.

Verizon delivers FiOS TV over the nation's largest digital, all-fiber network, which has earned certification from the independent Fiber to the Home Council for providing fiber all the way to customers' homes and businesses.

FiOS TV scored highest in J.D. Power's "2008 Residential Television Service Satisfaction Study for the East Region." And a leading consumer magazine gave FiOS TV the top rating in its most recent survey of television service, with top marks in all six categories it measured: channel choice, image quality, sound quality, reliability, value and support.

"Approval of Verizon's video franchise is great news for Gaithersburg residents, who soon will have more choice for their video entertainment," said William R. Roberts, Verizon's regional president in Maryland and Washington, D.C. "We commend the mayor, the Gaithersburg City Council and its staff for their dedication and hard work throughout this process.

"Clearly, they recognize and support the technological advantage and competitive benefits - as well as the distinctive edge in economic development and quality of life - that fiber will bring to their community," Roberts added.

Currently, FiOS TV is available to 9.7 million homes in 14 states: California, Delaware, Florida, Indiana, Maryland, Massachusetts, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Texas, Virginia and Washington.

FiOS TV service highlights include: -- More than 500 all-digital channels grouped by genres such as entertainment, sports, news, marketplace, movies and family, making it easy for audiences to find their favorite programming. -- Approximately 110 high-definition (HD) channels in Maryland, with extraordinary clarity and theater-quality sound. -- An innovative interactive media guide (IMG) that helps customers quickly and easily find and enjoy content from TV listings, video-on-demand (VOD) catalogs and the digital video recorder (DVR), as well as personal music and photos from a home network. -- An industry-leading library of 14,000 video-on-demand titles each month, 70 percent of which are free. Verizon's VOD library also includes more than 1,300 HD VOD titles, more than 1,000 of which are free.

Consumers in Gaithersburg can check online at http://www.verizon.com/fios for more information or to request that Verizon contact them when FiOS TV and FiOS Internet services become available. Customers also can call their local Verizon sales office or 888-GET FiOS (888-438-3467). Information on construction schedules is available at http://www.verizon.com/md.

* NOTE: actual (throughput) speeds will vary.

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

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

Verizon

CONTACT: Sandra Arnette, +1-410-393-7109, sandra.u.arnette@verizon.com

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

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

Cortado Streamlines Remote Document Management for BlackBerry Enterprise Server 5.0With classic PC functions Cortado supplements the new BlackBerry Enterprise Server

ORLANDO, Fla., May 5 /PRNewswire/ -- Cortado, a global leader in mobile applications, BlackBerry(R) Alliance Program member, and specialist in mobile document management, announces support for the new BlackBerry(R) Enterprise Server 5.0 from Research In Motion (RIM). BlackBerry Enterprise Server 5.0 now includes file access for documents behind a company's firewall, and with the Cortado solution provides users with extensive file support as well as a wide range of output options such as printing, faxing and PDF rendering.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090505/LA11348) (Logo: http://www.newscom.com/cgi-bin/prnh/20080908/CORTADOLOGO)

Cortado, having specialized in remote file management, offers a seamless mobile office for BlackBerry(R) smartphone users. Advantages include:

Seamless user experience -- Users enjoy the same environment they have on their Microsoft Windows XP(R) or Vista(R) machine. A network folder manager automatically maps the correct drive names to the shared files the user is allowed to access according to the active directory -- Possibility to download documents without any size limitation -- Ability to upload documents with the unique 'Save As' function and save e-mails and attachments directly on network drives -- Mobile file manager with classic Windows Explorer functions: Copy & paste, create, delete and rename files and folders stored on network drives or in online storage Extensive file support -- Support of any document stored on the device and the network, e-mail attachments, tasks, notes, and calendar entries -- Support of HTML e-mails and BlackBerry(R) Browser pages -- Support of any document formats and a wide range of images -- Open architecture with the flexibility to add new file formats -- Support of document access for BlackBerry smartphones with Device Software 4.0.2 and higher Mobile output options -- PDF rendering: the first PDF writer for BlackBerry smartphones. Save, print, fax and e-mail PDF files -- Instant Database Reporting: View, e-mail, print or fax database reports from almost any database -- Print to network printer in accordance with the user's rights in the active directory -- Search for printers in the active directory -- Print to Bluetooth-printers -- Present-to-Screen: Present or view documents from a smartphone on a computer screen or projector -- Mobile fax and short fax: Send any document to a fax machine or quickly create faxes using short fax templates Administrative tools -- Comprehensive tool allows management of the entire network access with just a few mouse clicks in minutes -- a particularly comfortable option if there are a great number of BlackBerry smartphone users -- Easy management of network printers

At Wireless Enterprise Symposium 2009, Cortado presents future Cortado Corporate Server features including Enterprise Search, Fault Tolerance and more.

"With our products we are optimally equipped to enhance BlackBerry Enterprise Server 5.0 and to offer our customers maximized efficiency," said Carsten Mickeleit, Managing Director at Cortado.

Further information and a free, fully functional demo version are available at http://www.cortado.com/enterprise.

This press release and press photo are available for download under: http://www.cortado.com/press.

Cortado. A Division of ThinPrint

Cortado, as an independently acting division, combines proven expertise in mobile communications technology with over 10 years of experience in building, and globally marketing, enterprise solutions.

Cortado offers complete independence from location-bound workplaces and computer-based communication methods. It increases productivity by extending the corporate network and desktop through the smartphone, giving users access to vital information while mobile. Users can access and save files from a network, as well as print and fax documents directly from his or her smartphone.

Press contacts: In North America: Francesca Brunello, Marketing and Business Development Manager Phone: 440.331.8446 Ext 3310, francesca.brunello@thinprint.com

The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. RIM is listed on the NASDAQ Stock Market and the Toronto Stock Exchange (TSX: RIM).

Photo: http://www.newscom.com/cgi-bin/prnh/20080908/CORTADOLOGO
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http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Cortado

CONTACT: North America, Francesca Brunello, Marketing and Business
Development Manager, +1-440-331-8446, ext. 3310,
francesca.brunello@thinprint.com, for Cortado

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

AT&T Introduces Free 'myWireless Mobile' Application on Apple App StoreiPhone Customers Can View Data and Voice Usage, Manage Bill Payments, Add New Wireless Features and More

DALLAS, May 5 /PRNewswire-FirstCall/ -- AT&T* today announced the availability of its AT&T myWireless Mobile application on the Apple App Store. AT&T developed the application to allow iPhone customers to manage family and individual accounts directly from their iPhone anytime, anywhere.

Supplementing AT&T myWireless, a popular service through http://www.att.com/ used today by millions of AT&T customers, the Mobile edition for iPhone brings greater ease and simplicity to virtually all elements of account management. The app's primary functions include:

-- Bill and Pay - View monthly bill in full and make one-touch payments -- Voice and Data Usage - View all voice and data usage, including text messages -- Features - Browse and manage bolt-on features, including new texting plans and more

"Our goal is to make the AT&T experience seamless and easy, and as much about the customer as possible," said David Huntley, senior vice president, eCommerce & Sales Centers, AT&T Mobility and Consumer Markets. "Our new AT&T myWireless Mobile app gives iPhone customers more freedom to manage, customize and update their wireless voice and data needs whenever and wherever. Customers can view minutes, add new features, update payment information and download their entire bill with added ease plus peace-of-mind with anytime, anywhere access."

New Ease, Hands-On Account Management

Among other capabilities, AT&T myWireless Mobile will allow password-authenticated iPhone customers to actively view all account billing details, including:

-- Last payment amount and date -- Current balance and due date -- Full bill in PDF format

Customers can also manage a range of payment needs using AT&T myWireless Mobile, including making full or partial payments, and selecting payment methods and preferences such as previously used checking accounts and credit cards. Customers can also set up new payment preferences, directly from their device, through the application.

For parents managing several AT&T accounts within a family plan, myWireless Mobile provides easy access to both voice and data usage across accounts. For example, parents can view voice minutes as part of Anytime, Night & Weekend, Mobile to Mobile and Rollover usage; plus, view current data usage and text messages, including both sent and received texts. Account information is available for both family and individual accounts.

AT&T myWireless Mobile also offers convenient access to several AT&T features such as AT&T Smart Limits for Wireless, and texting and data plans. Through the app, iPhone customers can explore and learn more about available features, plus easily add or remove features to and from their current account.

Once AT&T myWireless has been downloaded on iPhone, to access account information, customers must already have an existing myWireless service established via http://www.att.com/. The same username and password will provide account access on iPhone.

The AT&T MyWireless Mobile app is available for free from Apple's App Store on iPhone 3G or at http://www.itunes.com/appstore/

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

About AT&T

AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services, the nation's fastest 3G network and the best wireless coverage worldwide, and the nation's leading high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of their three-screen integration strategy, AT&T operating companies are expanding their TV entertainment offerings. In 2008, AT&T again ranked No. 1 in the telecommunications industry on FORTUNE(R) magazine's lists of the World's Most Admired Companies and America's Most Admired Companies. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.

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

All other marks contained herein are the property of their respective owners.

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

AT&T Inc.

CONTACT: Sarah Illingworth, +1-617-692-0516, sillingworth@attnews.us,
for AT&T

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

Baptist Health South Florida Selects Clinical Performance Benchmarking Solution From Thomson Reuters

ANN ARBOR, Mich., May 5 /PRNewswire/ -- Baptist Health South Florida has selected CareDiscovery(TM) Advance from Thomson Reuters to be a key component of its continuing effort to improve clinical quality and efficiency.

Baptist Health will use CareDiscovery Advance, a clinical performance benchmarking solution, to evaluate its clinical outcomes, quality and resource utilization. Built on the strength of healthcare brands Solucient and Medstat, CareDiscovery provides national norms as well as top performer benchmarks that employ the same methodologies as Thomson Reuters 100 Top Hospital(R) studies.

CareDiscovery delivers timely data that are risk- and severity-adjusted as well as detailed analyses of clinical processes -- such as practice patterns in the laboratory, radiology, and pharmacy. CareDiscovery also profiles physician performance to identify variations in practices.

CareDiscovery Advance drills down to transaction-level detail to identify opportunities to improve quality, patient safety, mortality, cost and length-of-stay variations.

"Thomson Reuters is honored to be working with Baptist Health South Florida, which can now find the root cause of clinical problems, develop improvement strategies based on best practices, and monitor and quantify the impact of its improvement strategy," said Terry Cameron, executive vice president of the Healthcare business of Thomson Reuters.

About Thomson Reuters

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

About Baptist Health South Florida

Baptist Health South Florida (Baptist Health) is the largest faith-based, not-for-profit health care organization in the region, with an outstanding reputation for medical and service excellence. Its network of services extends throughout Miami-Dade and Monroe Counties with Baptist, Baptist Children's, South Miami, Homestead, Mariners and Doctors Hospitals, and Baptist Cardiac & Vascular Institute. The mission of Baptist Health is to improve the health and well-being of individuals, and to promote the sanctity and preservation of life, in the communities we serve. Consistent with its spiritual foundation, Baptist Health is dedicated to providing high-quality, cost-effective, compassionate healthcare services to all, regardless of religion, creed, race or national origin, including, as permitted by its resources, charity care to those in need.

Thomson Reuters

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

IBM Helps Customers Work Smarter With New Software and Services for BlackBerry Enterprise Server 5.0

ORLANDO, Fla., May 5 /PRNewswire-FirstCall/ -- Wireless Enterprise Symposium (WES) -- IBM today announced they will help businesses work smarter with software and services on the BlackBerry(R) platform, with support for the new BlackBerry(R) Enterprise Server 5.0.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090505/NY11333-a ) (Photo: http://www.newscom.com/cgi-bin/prnh/20090505/NY11333-b ) (Logo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO )

BlackBerry(R) smartphone users connected to BlackBerry Enterprise Server 5.0 will soon be able to read documents on the road without a laptop and respond or securely blog in real time with IBM Symphony word processing software, the new BlackBerry Client for Lotus Sametime instant messaging, and the new native BlackBerry Client for Lotus Connections from Research In Motion (RIM).

"IBM Lotus software on the BlackBerry platform redefines what it means to be 'at work,'" said Bob Picciano, general manager, IBM Lotus Software. "BlackBerry smartphone customers will have access to a suite of Lotus applications, including personal productivity, real-time collaboration and social software tools that can help them work smarter on the go."

The new BlackBerry Client for Lotus Sametime extends real-time collaboration from the desktop computer to the BlackBerry smartphone, including instant messaging (IM), presence awareness, contacts, broadcasts, file transfer, click-to-call and other features. Traditional landline phones become obsolete through the combination of voice-over-IP with presence awareness via IBM Lotus Sametime and corporate network and wireless routing with the BlackBerry(R) Bold(R) smartphone. In addition to IM, presence is seen throughout the smartphone applications. For example, a customer can use instant messaging within their calendar or an email to get an urgent answer in the moment without breaking the work flow. If instant messages aren't fast enough, the click-to-call feature is one button away.

In addition, LotusLive Meetings -- a new software service in IBM's cloud-based portfolio (LotusLive.com) -- will soon support the ability to participate in an online meeting on BlackBerry smartphones, making it easy to join a meeting regardless of location. By taking advantage of the 3G network, mobile workers can have an integrated audio and Web conferencing experience from the BlackBerry Bold or BlackBerry Storm smartphone. An open beta program for mobile LotusLive Meetings will be available in June at http://www.lotuslive.com/.

The next generation BlackBerry Client for Lotus Connections, developed by RIM and available May 8, will meet a need in corporate human resources to help manage an increasingly mobile workforce through social networks with blogs, activities, communities and tag clouds. Now, employees can form communities adding new contacts at conferences and other meetings while inventorying skills and expertise in the process. In addition, tag clouds help drill down through information on a myriad of contacts to the core expertise being sought locally or globally, wherever the customer may be.

"With nearly a decade of experience supporting over 130,000 BlackBerry smartphone users in more than 15 countries, IBM has seen a shift in customer requirements to mobilize teams beyond email on their smartphones to mobile applications that drive collaboration and group productivity," said Dan Papes, general manager, IBM Mobile Enterprise Services. "We are delighted with the new manageability and high availability features of BlackBerry Enterprise Server 5.0 and the market-leading security that it brings to the Lotus software interactions that take place on BlackBerry smartphones."

As a member of beta program for BlackBerry Enterprise Server 5.0 and a BlackBerry Alliance member, IBM's input as both a global customer and managed services provider for the BlackBerry Enterprise Solution for IBM Lotus Domino has provided RIM with product feedback that has helped strengthen the quality of the server software. BlackBerry Enterprise Server 5.0's over-the-air feature which allows IT administrators to issue applications and upgrades to devices without physically connecting smartphones to their company network improves IBM's ability to stage deployments or software upgrades. The application management in BlackBerry Enterprise Server 5.0 also helps service providers or time-crunched IT departments to keep non-sanctioned applications that waste employee time off the smartphone and push productive applications to individuals or groups.

For more information on IBM enterprise collaboration software: http://www.ibm.com/lotus

IBM, Lotus, Domino, Sametime and Connections are trademarks of International Business Machines Corporation in the United States, other countries or both. Other company, product and service names may be trademarks or service marks of others. The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited.

Contact: Michael Azzi IBM Media Relations +1 914-766-1561 azzi@us.ibm.com

Photo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO
http://www.newscom.com/cgi-bin/prnh/20090505/NY11333-b
http://www.newscom.com/cgi-bin/prnh/20090505/NY11333-a
PRN Photo Desk, photodesk@prnewswire.com IBM Corporation

CONTACT: Michael Azzi, IBM Media Relations, +1-914-766-1561,
azzi@us.ibm.com

Web Site: http://www.ibm.com/
http://www.ibm.com/lotus
http://www.blackberry.com/go/ibm

IBM Implements Electronic Filing at the BAGermany's Federal Employment Agency (Bundesagentur fur Arbeit/ BA) awards contract to IBM / Swifter processing benefits applicants

DUSSELDORF, Germany and NUREMBERG, Germany, May 5 /PRNewswire-FirstCall/ -- IBM today announced that it has signed a new services agreement with Germany's Federal Employment Agency, Bundesagentur fur Arbeit (BA) to help the agency file, distribute, process and manage documents electronically.

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

Under terms of the agreement, IBM Global Business Services will implement IBM's FileNetP8 enterprise content management platform in which a customized user interface will be developed for the BA. The project, stated to take up two years, is a part of the e-government strategy pursued by the BA with a view to further improving its performance.

The aim is to achieve transparent and multi-client capable filing, distribution, processing and management of electronic documents and files.

"With the e-file system we aim to achieve several objectives simultaneously -- to reduce our processing times significantly to the benefit of our customers, to boost overall system transparency, and thereby to make the BA generally more efficient," said the Federal Employment Agency's Rainer Wrobel, project leader.

Mountains of paper files, which have to be transported at great expense, are still very much a part of the day-to-day workload at the Federal Employment Agency. In contrast to processing paper files, electronic documents and files can be accessed immediately and simultaneously by authorized employees, thereby improving substantially the ability of Agency offices to provide information.

By using a uniform document management system solution, the time it takes to deal with individual applications and transactions can be reduced significantly and a higher overall degree of transparency can be achieved.

The system is based on IBM's FileNet P8 enterprise content management platform. The platform provides a unified content, process and compliance environment for managing documents and controlling workflows. It features uniform, standardized interfaces for all specialized IT applications and thereby provides the technical and organizational link for digital document management and processing.

"This agreement builds on IBM's long-term work with the Federal Employment Agency and will help them develop smarter ways of managing information," said Axel Bindewalt, Industry Leader Social Security IBM Global Business Services, Germany. "IBM works with public sector clients worldwide and its deep knowledge in the amount of data involved in agencies like the BA, has enabled us to develop and implement smarter solutions that save time, reduce costs and increase productivity."

Once the rollout is completed, which is likely to be in 2012, a total of around 50,000 users will have access to the platform. The contract with IBM was signed in March 2009.

About IBM For more about IBM, visit http://www.ibm.com/. Contact: Randy Zane IBM Media Relations 917-472-3589 rzane@us.ibm.com Dagmar Domke IBM Deutschland GmbH Press and Public Relations Tel.: +49 211 476 1913 Cell: +49 170 480 8228 dagmar.domke@de.ibm.com

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

CONTACT: Randy Zane, IBM Media Relations, +1-917-472-3589,
rzane@us.ibm.com; or Dagmar Domke, IBM Deutschland GmbH, Press and Public
Relations, +49-211-476-1913, or Cell, +49-170-480-8228,
dagmar.domke@de.ibm.com

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

General Dynamics Awarded $37 Million by U.S. Army for Abrams Tank System Technical Support

STERLING HEIGHTS, Mich., May 5 /PRNewswire-FirstCall/ -- General Dynamics Land Systems, a business unit of General Dynamics , has been awarded a $37 million contract by the U.S. Army TACOM Life Cycle Management Command for Abrams Tank System Technical Support (STS).

The award will fund engineering studies on Abrams main battle tanks to identify improvements and replace obsolete parts to maintain the tanks at high operational readiness rates. The work will be performed by existing General Dynamics Land Systems employees in Sterling Heights, Mich. Work is expected to be completed by December 31, 2011.

General Dynamics, headquartered in Falls Church, Virginia, employs approximately 92,900 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at http://www.generaldynamics.com/.

General Dynamics Land Systems

CONTACT: Robin L. Porter of General Dynamics Land Systems,
+1-586-825-7141, Cell, +1-586-219-2274, porterr@gdls.com

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

Call of Duty(R): World at War Map Pack 1 Continues to Dominate With More Than Two Million Downloads

SANTA MONICA, Calif., May 5 /PRNewswire/ -- The juggernaut that is Call of Duty(R): World at War Map Pack 1 continues to roll, with Activision Publishing, Inc. and developer Treyarch announcing today that worldwide sales for the downloadable map pack have cleared the two million download mark, on both Xbox LIVE and the PlayStation Network (combined).

"This is a huge milestone and we are so appreciative of our incredibly supportive community who continue to play and enjoy the game," said Mark Lamia, Studio Head of Treyarch. "We're hard at work on Call of Duty: World at War Map Pack 2 and look forward to delivering that in June."

Call of Duty: World at War Map Pack 1 contains four maps (Nightfire, Station, Knee Deep and Verruckt) and is available on Xbox LIVE(R) Marketplace for the Xbox 360 video game and entertainment system from Microsoft for 800 Microsoft Points and on the PlayStation(R)Store for the PLAYSTATION 3 computer entertainment system for $9.99. Call of Duty: World at War is rated "M" (Mature) by the ESRB for Intense Violence, Strong Language, Blood and Gore.

For more information and exclusive updates about Call of Duty: World at War, visit http://www.callofduty.com/.

About Activision Publishing, Inc.

Headquartered in Santa Monica, California, Activision Publishing, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products.

Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Ireland, Italy, Sweden, Spain, the Netherlands and Australia. More information about Activision and its products can be found on the company's website, http://www.activision.com/.

Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves Activision Publishing's expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. Activision Publishing generally uses words such as "outlook," "will," "could," "would," "might," "remains," "to be," "plans," "believes," "may," "expects," "intends," "anticipates," "estimate," future," "plan," "positioned," "potential," "project," "remain," "scheduled," "set to," "subject to," "upcoming" and similar expressions to help identify forward-looking statements. Factors that could cause Activision Publishing's actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, but are not limited to, sales levels of Activision Publishing's titles, shifts in consumer spending trends, the impact of the current macroeconomic environment, the seasonal and cyclical nature of the interactive game market, Activision Publishing's ability to predict consumer preferences among competing hardware platforms (including next-generation hardware), declines in software pricing, product returns and price protection, product delays, retail acceptance of Activision Publishing's products, adoption rate and availability of new hardware and related software, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, litigation against Activision Publishing, maintenance of relationships with key personnel, customers, vendors and third-party developers, domestic and international economic, financial and political conditions and policies, foreign exchange rates, integration of recent acquisitions and the identification of suitable future acquisition opportunities, Activision Blizzard's success in integrating the operations of Activision Publishing and Vivendi Games in a timely manner, or at all, and the combined company's ability to realize the anticipated benefits and synergies of the transaction to the extent, or in the timeframe, anticipated, and the other factors identified in Activision Blizzard's most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. The forward-looking statements in this release are based upon information available to Activision Publishing and Activision Blizzard as of the date of this release, and neither Activision Publishing nor Activision Blizzard assumes any obligation to update any such forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Activision Publishing or Activision Blizzard and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.

(C)2009 Activision Publishing, Inc. Activision and Call of Duty are registered trademarks of Activision Publishing, Inc. All rights reserved. Xbox, Xbox 360, Xbox Live, Windows and Games for Windows are either registered trademarks or trademarks of Microsoft Corporation. All other trademarks and trade names are the properties of their respective owners.

Activision Publishing, Inc.

CONTACT: John Rafacz, PR Manager of Activision Publishing, Inc.,
+1-310-496-5207, john.rafacz@activision.com

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

Company News On-Call: http://www.prnewswire.com/comp/007396.html

Reedsville Residents to Benefit From Verizon Wireless Network ExpansionNew Cell Site Means Clearer Reception, Fewer Dropped Calls

REEDSVILLE, Wis., May 5 /PRNewswire/ -- Verizon Wireless has activated a new cell site in Reedsville that expands network coverage, enabling more customers in Manitowoc County to use their wireless phones concurrently to make calls; send and receive email and text, picture and video messages; access the Internet; view high-quality videos; and download music, games and ringtones, while enjoying clearer reception and fewer dropped calls.

This cell site expands Verizon Wireless' voice and data network around Reedsville from County Highway K south to County Highway JJ, west to Grimms Road and east to Oakwood Road.

"This network expansion reflects our ongoing commitment to meet the growing needs of our customers and to provide them with the reliable, high quality service they expect from Verizon Wireless," said T.J. Fox, president-Wisconsin/Illinois Region, Verizon Wireless.

"The value we offer our customers is closely tied to our industry-leading customer retention," Fox said. "Wireless consumers today understand that value is not defined by price alone. A major reason our customers choose Verizon Wireless and stay with us is because we offer the nation's most reliable network."

The new cell site in Manitowoc County is part of Verizon Wireless' continual effort to expand coverage, increase capacity and enhance the quality of its wireless voice and data network in Wisconsin and throughout the country. Verizon Wireless has invested more than $50 billion since it was formed -- $5.5 billion on average every year -- to increase the coverage and capacity of its national network and to add new services. More than $277.4 million of this investment was spent in Wisconsin, including more than $55 million in 2008.

About Verizon Wireless

Verizon Wireless operates the nation's most reliable and largest wireless voice and data network, serving more than 86.6 million customers. Headquartered in Basking Ridge, N.J., with more than 86,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, visit http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

Verizon Wireless

CONTACT: Carolyn A. Schamberger, APR, of Verizon Wireless,
+1-847-619-4282, carolyn.schamberger1@verizonwireless.com; or Dana Carpenter,
+1-414-291-0912, ext. 111, dana@corecreative.com, for Verizon Wireless

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

i2 Inc. Launches the i2 Intelligence-Led Operations Platform For Criminal and Terrorist Threat PreventionWider-ranging and powerful analytical, visualization and management solutions designed to tackle the incredible challenge of ever-expanding information and accelerate operations

MCLEAN, Va., May 5 /PRNewswire/ -- i2 Inc., the market leading provider of intelligence and investigation management software, today launched the i2 Intelligence-Led Operations Platform -- a powerful new platform enabling public safety, military, national security and commercial organizations to proactively solve, deter, prevent, predict and disrupt the world's most sophisticated criminal and terrorist threats. The announcement was made at the firm's annual i2 National User Conference in Arlington, Virginia.

Recognizing that the current global threat environment facing public and private sector organizations is marked by increasingly lethal and sophisticated criminal and terrorist activity, i2 developed an intelligence-led platform that delivers unmatched analytical, visualization and management capabilities at all points of the operations cycle.

"Predictable and rational criminal and terrorist patterns have given way to chaotic events and violent extremism," said Chriss Knisley, Assistant Vice President, at i2 Inc. "As a result, organizations demand a solution that not only helps them solve complex challenges, but gives them the tools to identify and prevent threats before they occur. The i2 Intelligence-Led Operations Platform has been designed for this very purpose."

The i2 Intelligence-Led Operations Platform

From forward planning, prediction and prevention to real-time incident management and post-incident investigation, the i2 Intelligence-Led Operations Platform supports all types of operations. As a result, analysts, managers and investigators can uncover hidden connections faster, deliver timely and actionable results, and communicate complex situations more clearly than ever.

"This is an important milestone for i2 as we further our mission to deliver the most innovative, comprehensive and trusted solutions to help our customers face the challenge of ever-expanding information with shorter operation deadlines," added Paul Holroyd, CEO at i2.

The i2 Platform is comprised of tightly integrated but independent applications providing the necessary flexibility and customization required to handle the threats unique to each organization:

-- Flexible and fast data acquisition with i2 iXa Search Service and i2 iBridge -- Rich analysis and visualization with i2 iBase, i2 TextChart, i2 Analyst's Notebook(R) and i2 Analyst's Workstation -- Real-time sharing of intelligence and information in the iBase repository Platform Integrates New Versions of i2 Analyst's Notebook, i2 iBase

Analyst's Notebook 8, the latest version of i2's de facto standard visual analysis and investigative software, offers extended capabilities designed to increase analyst productivity and reduce the time required to deliver high value intelligence within quickly growing data sets.

iBase 6, a powerful new edition of i2's sophisticated database solution for capturing, controlling and analyzing multi-source investigative data in a secure environment, offers new capabilities for comprehensive searching with prioritized results, as well as enhanced collaboration tools.

About i2 Inc.

i2 is the market leading provider of intelligence and investigation management software for public safety, military, national security and commercial organizations. Our intelligence-led operations platform enables analysts and investigators to quickly understand complex scenarios and volumes of seemingly unrelated data, perform analysis and communicate the results. More than 2,000 organizations in over 115 countries rely on i2 road-tested technology to prevent crime and terrorism by uncovering hidden connections faster and making the right decision at the right time.

i2 Inc.

CONTACT: Debbie Molis of i2 Inc., +1-703-921-0195

Web Site: http://www.i2inc.com/

StratoComm Corporation Schedules Initial System Turn On

ALBANY, N.Y. and EATONTOWN, N.J., May 5 /PRNewswire-FirstCall/ -- StratoComm Corporation (STCO) is making final preparation for a team of its engineers to depart for Douala, Cameroon which as referenced earlier this year is the location for installation of StratoComm's first commercial wireless telecommunications system.

(Logo: http://www.newscom.com/cgi-bin/prnh/20071024/NYW094LOGO)

During April the company fully equipped its wireless telecommunications testing lab located at its Development Center in Eatontown, New Jersey. This allows equipment and software configurations to be verified prior to delivery and initial turn on of services in the Cameroonian city of Douala. Douala is a port city with a population of approximately 2,000,000.

Equipment earmarked for use in Cameroon has been received and is in the process of configuration, programming and testing prior to shipment to Cameroon. "This important step will ensure efficient installation and reliable operation with system turn on," says Robert W. Phillips, StratoComm VP Development. Mr. Phillips continues, "Strenuously testing all equipment prior to shipment will also reduce time in-country spent on system installation, turn on and operator training."

Departure for Douala is scheduled to occur during the second half of May and time budgeted for StratoComm's engineering team in-country is two weeks. StratoComm's installation and training team is lead by StratoComm Corporation, Vice President of Systems Integration, Richard Buchanan.

StratoComm Corporation is a developer and provider of telecommunications infrastructure technologies with a specific focus to the delivery of ubiquitous and cost sensitive communication services to the developing world. The company is further committed to the allocation of a portion of each system's service capacity for the provision of low cost/no cost social and economic outreach programs.

Safe Harbor Disclosure - This Press Release contains or incorporates by reference "Forward-looking statements," including certain information with respect to plans and strategies of StratoComm Corporation. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including StratoComm Corporation beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to StratoComm Corporation as of such date. There are a number of important factors that could cause actual events or actual results of StratoComm Corporation and its subsidiaries to differ materially from those indicated by such forward looking statements.

Company web site: http://www.stratocomm.net/

Photo: http://www.newscom.com/cgi-bin/prnh/20071024/NYW094LOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com StratoComm Corporation

CONTACT: Roger D. Shearer, CEO of StratoComm Corporation,
+1-518-608-8940 ext. 15, or info@stratocomm.net

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

Verizon Wireless to Hire 50 New Customer Service Professionals in Meriden, ConnecticutCollege Graduates Encouraged to Apply Online; Employee Benefits Begin on Day One; Hiring to Stay Ahead of Growing Demand for Company's Wireless Voice and Data Products

MERIDEN, Conn., May 5 /PRNewswire/ -- Verizon Wireless today announced plans to hire 50 new customer service professionals in its Meriden, Connecticut call center during the second quarter of 2009. The hiring is a result of the company's continuing effort to stay ahead of growing demand for wireless voice and 3G data products.

Strong demand for Verizon Wireless products and services continued during 2009 as the company added 1.3 million net new customers in the first quarter. Verizon Wireless now serves more than 86 million customers nationwide.

"In addition to continually investing in the industry's best wireless network, Verizon Wireless is recruiting the industry's best employees to support our customers," said Jennifer Bouquot, manager of Human Resources for Verizon Wireless. "An ideal job candidate will possess at least a two-year college degree, a strong interest in wireless technology and a passion for delivering superior customer service."

Verizon Wireless currently employs over 300 customer service professionals in its Meriden, CT office, part of more than 1,600 wireless professionals statewide. "It's exciting to be bringing 50 new jobs to the state, particularly during these tough economic times," said Jerry Chanterelle, director of Verizon Wireless' Meriden Call Center. "We're expanding to serve our increasing customer base, the growth of which can be attributed to the sustained investments we've made into our leading 3G network and enhanced retail distribution across Connecticut and beyond."

Interested candidates can visit the company's website, http://www.verizonwireless.com/careers and reference job opening ID 232242 to learn more the about career opportunities in Meriden, CT and across the United States.

Benefits Begin on Day One

Verizon Wireless offers the industry's leading compensation and benefit packages. Benefits include health care coverage that begins on the first day of employment, participation in the company's 401(k) program (dollar-for-dollar company match up to 6% of the employee's contribution), profit sharing, tuition assistance for continuing education, and short-term (annual bonuses) incentive plans.

A Great Place To Work

In addition to being an industry leader in network reliability and customer loyalty, Verizon Wireless is also consistently ranked as one of the best places to work in the country because of its employee-friendly policies and opportunities for career advancement. Verizon Wireless was the only wireless carrier to be honored by Working Mother magazine in 2008 as an employer of choice for working families that invests in unique programs and benefits to meet the needs of all employees and their families.

For the seventh consecutive year, Verizon Wireless was named to Training magazine's 2008 list of "Top 125 Training Organizations in America." Recognized for its training and development programs, Verizon Wireless placed fourth among U.S. companies and was the highest ranked wireless carrier on the list. This annual list ranks companies based on qualitative and quantitative criteria, including strategic goals, targeted programs, and performance appraisals.

About Verizon Wireless

Verizon Wireless operates the nation's most reliable and largest wireless voice and data network, serving more than 86.6 million customers. Headquartered in Basking Ridge, N.J., with more than 86,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, visit http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

Verizon Wireless

CONTACT: Michael Murphy of Verizon Wireless, +1-781-932-1213,
michael.murphy(at)verizonwireless.com; or Diane Fortier, +1-978-499-9250 ext.
225, diane(at)matternow.com, for Verizon Wireless

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

Verizon Wireless Continues Efforts to Stop Spammers; Files Lawsuit Against Money Warehouse, Inc.Company Allegedly Sent 800,000 Text Messages Offering Mortgage Products

BASKING RIDGE, N.J., May 5 /PRNewswire/ -- Verizon Wireless said today that in its ongoing efforts to protect customer privacy, the company has filed a lawsuit against Pennsylvania-based Money Warehouse, Inc. (doing business as All State Mortgage Lender) and other John Does alleging they sent at least 800,000 wireless spam messages promoting mortgage products to Verizon Wireless customers and employees beginning in February 2009.

The lawsuit, filed Monday in U.S. District Court in Trenton, N.J., alleges these unsolicited messages were sent using an autodialer to randomly-generated numbers in violation of the Federal Telephone Consumer Protection Act, which prohibits the use of an autodialer to call wireless phones.

"At a time when many Americans are concerned about making their mortgage payments, these types of unwanted text messages, from unknown senders, can be upsetting," said Steven E. Zipperstein, vice president and general counsel at Verizon Wireless. "Our company will continue to work diligently to stop these people who break the law and harass our customers."

Text messaging represents an increasingly important tool used by wireless customers to stay in touch with colleagues, friends and family, as well as by public safety and emergency medical services personnel across the country. Verizon Wireless customers exchanged 127 billion text messages in the fourth quarter of 2008, 18.2 billion more than the previous quarter, for an average of more than 1 billion per day.

Wireless spam may hinder the delivery of legitimate messages, and because spam is often sent in high volume over short periods of time, it can place a strain on the overall performance of the wireless network.

Since 2004, Verizon Wireless has brought nearly 20 lawsuits against wireless spammers, telemarketers and pretexters, and the company's record of protecting customer privacy puts it at the forefront of the U.S. wireless industry. Verizon Wireless has won permanent injunctions against individuals and companies that have engaged in illegal telemarketing or wireless spamming to Verizon Wireless customers, and against those who have attempted to obtain information about Verizon Wireless customers to sell to third parties. On behalf of its customers, Verizon Wireless has donated tens of thousands of dollars to domestic violence prevention and law enforcement organizations as a result of these settlements.

About Verizon Wireless

Verizon Wireless operates the nation's most reliable and largest wireless voice and data network, serving more than 86.6 million customers. Headquartered in Basking Ridge, N.J., with more than 86,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, visit http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

Verizon Wireless

CONTACT: Debra Lewis, +1-908-559-7512, Debra.Lewis@verizonwireless.com,
or Jeffrey Nelson, +1-908-559-7519, Jeffery.Nelson@verizonwireless.com, both
of Verizon Wireless

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

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

DemandTec and Cannondale Webinar to Highlight New Research on Trade Promotion Effectiveness for CP ManufacturersWebinar scheduled for May 21, 2009 will unveil how retailers perceive the trade planning process with their suppliers

SAN CARLOS, Calif., May 5 /PRNewswire-FirstCall/ -- DemandTec, Inc. , a leading provider of on-demand optimization solutions for retailers and consumer products manufacturers, today announced it will host a webinar entitled Trade Promotion Effectiveness: Retailer Perspectives and Manufacturer Implications on Thursday, May 21, 11:00 am PDT/2:00 pm EDT. The hour-long session intended for consumer products manufacturers will feature John Carlson, managing director of Cannondale Associates, and Armen Najarian, senior director of consumer products industry marketing at DemandTec. Kara Romanow, executive editor of Consumer Goods Technology, will moderate the webcast.

Cannondale Associates recently interviewed several retail grocery executives on the subject of trade promotion effectiveness, focusing on how retailers incorporate trade analytics into their planning processes, which consumer products manufacturers exhibit trade planning best practices and opportunities for improvement. In the webcast, Carlson will give an overview of the results of the survey and Najarian will provide DemandTec's perspective on what these insights mean for manufacturers.

"Cannondale's research reinforces our proposition that retailers have a perceived 'short list' of vendors who approach trade planning at a more strategic and objective level. There is a real opportunity for consumer products manufacturers to learn from these industry leaders and incorporate best practices into their own trade planning process," said Najarian.

As part of the research, Cannondale talked with category managers at large grocery retailers including a mix of large multi-divisional retailers, regional players, and smaller independents to determine how the trade promotion process is working within their companies and with manufacturers. The category managers were also asked how the process can be improved.

"One of the findings in our survey is that category managers are time starved because of the volume of incoming promotions from vendors and have a limited opportunity to act strategically on the proposed promotions. This presents an opportunity for manufacturers to step up and provide more detailed, objective trade planning rigor to support the manager's category objectives," said Carlson.

All attendees will receive a complimentary copy of Cannondale's executive whitepaper on this subject.

Visit http://www.demandtec.com/cannondalesurvey for additional information on the webinar and to register.

About Cannondale Associates

Cannondale Associates is a leading sales and marketing management consulting firm with offices in Wilton, CT and Evanston, IL and is part of Kantar and WPP. In addition to the PoweRanking(R) study, Cannondale publishes benchmarking studies on trade promotion spending strategies, category management/consumer marketing at retail (CMAR) and foodservice.

About DemandTec

DemandTec enables retailers and consumer products companies to optimize merchandising and marketing decisions, individually or collaboratively, to achieve their sales volume, revenue, and profitability objectives. DemandTec software services utilize DemandTec's science-based software platform to model and understand consumer behavior. DemandTec customers include more than 195 leading retail and consumer products manufacturers such as ACE Hardware, Advance Auto Parts, Belk, Best Buy, Bon-Ton Stores, Circle K Stores, ConAgra Foods, Delhaize America, General Mills, Giant-Carlisle, H-E-B Grocery Co, Hormel Foods, Monoprix, PETCO, Safeway, Sara Lee, Spartan Stores, Toys "R" Us and WH Smith. Connected via the DemandTec TradePoint Network(TM), DemandTec customers have collaborated online with nearly 2.2 million trade deals. For more information, please visit http://www.demandtec.com/.

DemandTec Safe Harbor

This press release contains forward-looking statements regarding DemandTec's expectations, hopes, plans, intentions or strategies, including statements about the effectiveness of DemandTec's solutions. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in DemandTec's documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to DemandTec as of the date hereof, and DemandTec assumes no obligation to update these forward-looking statements.

DemandTec and the DemandTec logo are registered trademarks of DemandTec, Inc. All other trademarks are the property of their respective owners.

DemandTec, Inc.

CONTACT: Media, Mitch Kristofferson, +1-650-226-4630,
mitch.kristofferson@demandtec.com; or Investors, Tim Shanahan,
+1-650-226-4603, tim.shanahan@demandtec.com, both of DemandTec, Inc.

Web Site: http://www.demandtec.com/cannondalesurvey
http://www.demandtec.com/

Asharoken Is Latest Long Island Municipality to Join FiOS TV RevolutionCompany Hits 150 Franchise Mark in New York; Verizon's FiOS TV Also Now Available in Westbury

GARDEN CITY, N.Y., May 5 /PRNewswire/ -- Residents of the Suffolk County Village of Asharoken are a major step closer to having a real choice for their cable television service, thanks to a newly approved agreement authorizing Verizon to offer its FiOS TV service, delivered over the most advanced fiber-optic network straight to customers' homes.

The village granted a video franchise to Verizon Monday night (May 4), paving the way for video choice in this community. The Asharoken franchise agreement brings to 150 the total number of New York municipalities that have authorized Verizon to provide FiOS TV service.

In addition, Verizon's FiOS TV is now available in Westbury. That Nassau County village approved a franchise agreement for Verizon on March 19, and it was approved by the New York Public Service Commission on April 23. Verizon began sales and marketing activities there last week.

"This is great news for residents of the villages of Asharoken and Westbury, who now join the FiOS revolution, giving them a new choice for their video entertainment," said Andres Irlando, Verizon president for the New York region.

"Consumers in these areas will be able to choose their cable provider as easily as they choose their phone company. Competition like this drives innovation and value and puts the consumer in control, and we will compete aggressively for customers in this area," he said.

As with all local franchise approvals in New York, the agreement between Verizon and Asharoken is subject to review by the New York State Public Service Commission.

A staple in the New York business community, with more than 32,000 employees in the state, Verizon is continuing to invest in the state's infrastructure by building, maintaining and enhancing its wireline and wireless networks across New York, including its state-of-the-art fiber-optic network, providing consumers and businesses with reliable FiOS Internet, TV and voice services.

Verizon's FiOS TV is a formidable competitor to cable and satellite, offering a broad collection of all-digital programming, up to 107 high-definition (HD) channels in the New York market and access to more than 14,000 video-on-demand (VOD) titles, 70 percent of which are free. The VOD library also includes more than 1,300 HD titles per month.

Verizon's FiOS TV service was selected as the top-ranked residential television service provider in the Northeast region by J.D. Power for 2008. FiOS TV is currently available to more than 9.7 million homes in 14 states: California, Delaware, Florida, Indiana, Maryland, Massachusetts, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Texas, Virginia and Washington.

Verizon's fiber network delivers amazingly sharp pictures and sound, and has the capacity to transmit a wide array of high-definition programming that is so clear and intense it seems to leap from the TV screen. In addition to FiOS TV, Verizon's fiber network also delivers Internet download speeds of up to 50 Mbps (megabits per second) and upload speeds of up to 20 Mbps, as well as high-quality voice service.*

Asharoken and Westbury join a growing list of New York communities that are paving the way for competition and choice in the television market. In addition to the two villages, Verizon has been granted video franchises in the following municipalities:

City of New York Long Island

Amityville, Atlantic Beach, Massapequa Park, Cedarhurst, Laurel Hollow, Lynbrook, Mineola, East Hills, East Rockaway, Farmingdale, Valley Stream, Freeport, Williston Park, New Hyde Park, Sands Point, Bayville, Old Field, Floral Park, South Floral Park, Garden City, Nissequogue, Northport, Poquott, East Williston, Head of the Harbor, Hewlett Bay Park, Mill Neck, Stewart Manor, Centre Island, Lake Grove, Lawrence, Lindenhurst, Long Beach, Malverne, Manorhaven, Huntington Bay, The Branch, Oyster Bay Cove, Flower Hill, Great Neck, Great Neck Estates, Great Neck Plaza, Kensington, Kings Point, Lake Success, Munsey Park, North Hills, Plandome, Plandome Heights, Plandome Manor, Port Washington North, Rockville Centre, Roslyn, Roslyn Estates, Roslyn Harbor, Russell Gardens, Saddle Rock, Thomaston, Bellerose, Lloyd Harbor, Baxter Estates, Hempstead, Cove Neck, Brightwaters and Hewlett Harbor; and the towns of North Hempstead, Huntington, Smithtown, Hempstead, Oyster Bay, Islip and Babylon

Westchester County

Ardsley, Dobbs Ferry, Tarrytown, Irvington, Greenburgh, Eastchester, Mount Kisco, Elmsford, Port Chester, Tuckahoe, White Plains, Rye Brook, North Castle, Mount Vernon, Mount Pleasant, Yonkers, Scarsdale, Bronxville, New Rochelle, Cortlandt, Peekskill, Buchanan, Rye, Larchmont, the Village of Mamaroneck, the Town of Mamaroneck, New Castle, Pelham Manor, Sleepy Hollow, Briarcliff Manor, the Town of Ossining, the Village of Ossining and the Town of Yorktown

Rockland County

Nyack, South Nyack, Upper Nyack, Grandview-on-Hudson, Clarkstown, Orangetown, Piermont, Airmont, the Town of Haverstraw, West Haverstraw, Chestnut Ridge, Ramapo, Spring Valley, Stony Point, the Village of Haverstraw, Suffern, Hillburn, Wesley Hills, Montebello, New Hempstead and Pomona

Dutchess County

Wappinger, Wappingers Falls and Village of Fishkill, Town of Fishkill, City of Poughkeepsie and the Town of Poughkeepsie.

Orange County Town of Newburgh and City of Newburgh Erie County

Amherst, Blasdell, Lackawanna, Village of Hamburg, Town of Hamburg, West Seneca, Tonawanda, Village of Orchard Park, Town of Orchard Park and Kenmore

Putnam County Kent, Town of Carmel Onondaga County Town of Clay * NOTE: actual (throughput) speeds will vary.

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

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

Verizon

CONTACT: John Bonomo, +1-212-321-8033, John.J.Bonomo@Verizon.com

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

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

TV Choice and Competition Near for Residents of Mendon, Mass.Town Approves Video License for Verizon; Residents Soon Can Get FiOS TV

MENDON, Mass., May 5 /PRNewswire/ -- Residents of Mendon are a major step closer to having a real choice for their cable television services, thanks to a newly approved agreement authorizing Verizon to offer its FiOS TV service via the most advanced all-digital, fiber-optic network straight to customers' homes.

The Mendon Board of Selectmen on Monday (May 4) granted a cable franchise to Verizon, authorizing video choice for thousands of households here.

The board's authorization brings to 94 the total number of Massachusetts communities where Verizon's FiOS TV is or will soon be available.

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

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

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

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

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

Verizon's license agreement with the city of Mendon is for 10 years. The agreement contains provisions for the network's future growth; financial support and capacity for educational and government access channels; cable service to government buildings; and other important benefits to the city, including insurance, indemnification and enforcement protections.

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

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

FiOS TV offers a broad collection of programming, with more than 500 all-digital channels and 14,000 video-on-demand (VOD) titles each month - 70 percent of which are free. Verizon's industry-leading VOD library also includes more than 1,300 HD titles per month.

Fiber delivers amazingly sharp pictures and sound, and has the capacity to transmit a wide array of high-definition programming that is so clear and intense it seems to leap from the TV screen.

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

* NOTE: actual (throughput) speeds will vary.

[In Massachusetts, FiOS TV is available in Abington, Acton, Andover, Arlington, Ashland, Bedford, Bellingham, Belmont, Boxborough, Boxford, Braintree, Burlington, Canton, Danvers, Dedham, Dover, Dunstable, Framingham, Franklin, Georgetown, Grafton, Hamilton, Hanover, Hingham, Holliston, Hopkinton, Hudson, Ipswich, Lakeville, Lawrence, Leominster, Lincoln, Littleton, Lexington, Lynn, Lynnfield, Malden, Mansfield, Marion, Marlborough, Marshfield, Mattapoisett, Maynard, Medfield, Medway, Melrose, Methuen, Middleborough, Middleton, Millbury, Nahant, Natick, Needham, Newton, Norfolk, North Andover, North Reading, Northborough, Norwell, Norwood, Plymouth, Reading, Rochester, Rockland, Rowley, Sherborn, Southborough, Stoneham, Stoughton, Stow, Sudbury, Sutton, Swampscott, Taunton, Tewksbury, Topsfield, Tyngsborough, Wakefield, Walpole, Waltham, Wareham, Wayland, Wellesley, Wenham, West Newbury, Westborough, Weston, Westwood, Wilmington, Winchester and Woburn. Verizon also has FiOS TV franchises in Chelmsford and Marblehead. FiOS TV also is available in parts of New York, New Jersey, California, Delaware, Texas, Florida, Indiana, Maryland, Oregon, Pennsylvania, Rhode Island, Virginia and Washington.]

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

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

Verizon

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

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

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

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News archive of December 2009
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