Synopsys Announces Earnings Release Date and Conference Call for Second Quarter Fiscal Year 2009

MOUNTAIN VIEW, Calif., May 6 /PRNewswire-FirstCall/ -- Synopsys, Inc. , a world leader in software and IP for semiconductor design and manufacturing, today announced it will report results for the second quarter fiscal year 2009 on Wednesday, May 20, 2009, after the market close.

A conference call to review the results will begin at 2 p.m. PT (5 p.m. ET) and will be hosted by Aart de Geus, chairman and chief executive officer, and Brian Beattie, chief financial officer.

Financial and other statistical information to be discussed on this conference call will be available on the corporate website at http://www.synopsys.com/ immediately before the call. A live webcast will also be available on this site. Participants should access the live webcast at least 10 minutes prior to the start of the call. A webcast replay can be accessed on the corporate website beginning Wednesday, May 20, 2009, at approximately 5:30 p.m. PT. The replay will remain available until Synopsys announces its third quarter results in August 2009. In addition, a dial-up replay of the conference call will be available beginning May 20, 2009 at 4:00 p.m. PT, ending on June 3, 2009. The replay telephone number is USA (800) 475-6701, and International (320) 365-3844, Access Code: 999158.

Contact: Roberta Reid Synopsys, Inc. (650) 584-1901

Synopsys, Inc.

CONTACT: Roberta Reid of Synopsys, Inc., +1-650-584-1901

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

Novellus' 32nm UV-Absorbing Dielectric Films Key to Improved Device ReliabilityDense ULK and Diffusion Barrier Stack Absorbs Order-of-Magnitude More UV Radiation Than Porous Interconnect Alternatives

SAN JOSE, Calif., May 6 /PRNewswire-FirstCall/ -- In order for RC delay to continue to scale in accordance with the International Technology Roadmap for Semiconductors (ITRS), device manufacturers are integrating ultra-low k (ULK) dielectric materials into their 32 nm process flows. At the same time, UltraViolet Thermal Processing (UVTP) is being introduced into the semiconductor manufacturing process to improve the mechanical properties of these ULK materials, making them more robust for subsequent Chemical Mechanical Planarization (CMP) and packaging operations. However, the UVTP process can alter the nature of the stress of the ULK film stack at the copper-dielectric interface. While it is widely accepted that maintaining a compressive stress at this interface can positively impact copper electromigration and film stack reliability, exposing some dielectric films to UV radiation can shift the stress in the film from compressive to tensile, which will negatively affect device performance.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090506/SF12370)

Novellus has developed a suite of 32nm dielectric films which significantly reduce the transmission of UV radiation to the critical copper-dielectric interface, maintaining a compressive stress in this region and hence device reliability. Figure 1 shows that the Novellus interconnect stack, consisting of a dense ULK and a low-k diffusion barrier, transmits an order-of-magnitude lower UV intensity (220nm wavelength) in comparison to a porous ULK solution. The improved UV absorption of Novellus' ULK film stack is a direct result of the chemical composition of the film. Figure 2 shows the integration of a multi-layer diffusion barrier beneath the dense ULK film. This unique barrier was designed to remain compressive after UV exposure and protect the copper-dielectric interface. Novellus' Multi-Station Sequential Processing (MSSP) architecture ensures that the multi-layer barrier can be deposited in a single pass with high productivity.

"Some 32nm ULK inter-metal dielectric and diffusion barrier films can be negatively impacted by UVTP, changing the stress on the underlying copper-dielectric interface," said Andy Antonelli, technology manager at Novellus' PECVD business. "Relative to competitive offerings, the greater UV absorption capabilities of the new Novellus films preserves the compressive stress at this critical interface and thus minimizes reliability concerns."

For more information regarding the use of dielectric diffusion barriers resistant to UV, go to http://www.novellustechnews.com/.

About Novellus' PECVD Technology:

For high-volume manufacturing applications at 45nm and beyond, Novellus' advanced low-k, ILD, IMD, and dielectric diffusion barrier films offer the lowest k-effective, superior RC control, and an easily integrated low-cost dielectric solution.

About Novellus:

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

Photo: http://www.newscom.com/cgi-bin/prnh/20090506/SF12370
PRN Photo Desk, photodesk@prnewswire.com Novellus Systems, Inc.

CONTACT: Bob Climo of Novellus Systems, Inc., +1-408-943-9700,
bob.climo@novellus.com; or Marla Kertzman of The Hoffman Agency,
+1-408-975-3067, mkertzman@hoffman.com, for Novellus Systems, Inc.

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

California Micro Devices Reports March Quarter and Fiscal 2009 Results

MILPITAS, Calif., May 6 /PRNewswire-FirstCall/ -- California Micro Devices today announced financial results for the fourth quarter of fiscal 2009, which ended March 31, 2009. Revenue was $9.2 million at the mid-point of guidance compared to $15.0 million a year ago. GAAP EPS was a loss of ($0.15) at the low end of guidance compared to ($0.05) a year ago. Non-GAAP EPS was a loss of ($0.13) at the low end of guidance compared to a profit of $0.02 a year ago. For purposes of this release, non-GAAP EPS is calculated excluding Arques Technology acquisition costs, employee stock-based compensation expenses, goodwill impairment, and intangible asset impairment and amortization, and using a cash basis tax rate.

"Our Q4 results reflected the continuing weakness in the global economy as well as the seasonal weakness typical of this quarter, especially in the handset market," said Robert V. Dickinson, president and chief executive officer. "In spite of this, we saw a number of signs of progress in Q4 including the following:

-- Bookings improved to $8.1 million, up 184 percent from Q3 -- Net inventory decreased by $2.7 million from Q3 -- Non-GAAP gross margin increased to 28.3 percent from 26.3 percent in Q3 -- Non-GAAP operating expense was $0.2 million less than in Q3 and $0.7 million less than in Q2 -- Operating cash consumption decreased by $1.6 million compared to Q3

Summarizing year end results, Dickinson reported that fiscal 2009 revenue was $49.3 million compared to $59.2 million in fiscal 2008. On a GAAP basis, the company reported a loss of ($0.65) per share for fiscal 2009 compared to ($0.06) in fiscal 2008. Non-GAAP diluted EPS was a loss of ($0.27) compared to a profit of $0.08 a year ago. Dickinson also highlighted the following fiscal 2009 achievements:

-- Expanded customer base to include all of the top 5 handset manufacturers and three of the top 5 digital TV manufacturers -- Grew display controller revenue to 10 percent of total revenue -- Introduced third generation of CMD's industry leading Praetorian(R) filters for handsets -- Introduced XtremeESD(TM) family of ESD protection devices providing new levels of protection and signal integrity for high speed data interfaces -- Introduced LuxGuard(TM) family of ESD protection and thermal management devices for High Brightness LEDs -- Established Phoenix Design Center to strengthen development capability for protection devices -- Sold LED driver assets for $1.3 million -- Repurchased 673,000 shares out of 1 million authorized -- Ended the year with $45.6 million in cash

Dickinson anticipates revenue in Q1 to be between $8.5 and $10.0 million with a GAAP EPS loss of between ($0.14) and ($0.16), and non-GAAP EPS loss of between ($0.12) and ($0.14). Operating cash consumption is expected to be between $1.0 and $1.5 million down from $2.3 million in Q4. He added, "As we look forward into fiscal 2010, we see the demand picture beginning to improve. Orders in Q4 were well above the depressed levels of Q3 and orders so far in Q1 are running well ahead of Q4. From what we can tell, most of our customers are no longer aggressively liquidating inventory but are still taking a cautious approach with respect to adding inventory. We believe that revenue has bottomed and is likely to begin growing again by Q2 assuming increasing economic stability and seasonal growth in end demand. We also expect to see improving margins beginning in Q2, based on our cost reduction activities. Our objective is to achieve positive operating cash flow and profitability on a non-GAAP basis by the end of the fiscal year. We expect the principal driver of these improvements to be our protection business."

Live Webcast with Presentation Slides

California Micro Devices will hold a conference call today at 2:00 p.m. Pacific Time to discuss its financial results. The call may be accessed via live webcast (streaming audio accompanied by presentation slides) by connecting to the company's Investor Relations web page. The call may also be accessed via phone within the USA by dialing 866-752-7980 (no password required). International parties may gain access by dialing 404-537-3337 and then entering the conference ID number: 93574270. A replay of the call will be available on the company's Investor Relations web page beginning today at approximately 4:00 p.m. Pacific Time and continuing for one year.

About California Micro Devices Corporation

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

All statements contained in this press release that are not historical facts are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. They are not guarantees of future performance or events. Rather, they are based on current expectations, estimates, beliefs, assumptions, and goals and objectives and are subject to uncertainties that are difficult to predict. As a result, our actual results may differ materially from the statements made. Often such statements can be identified by their use of words such as will, intends, expects, plans, believes, anticipates, and estimates. Forward-looking statements made in this release include our expected revenues, operating cash consumption, and GAAP and non-GAAP loss per share for the first quarter of fiscal 2010; our perception that most of our customers are no longer aggressively liquidating inventory but are still taking a cautious approach with respect to adding inventory; our objective to return to positive cash flow and profitability on a non-GAAP basis by the end of fiscal 2010; our anticipated revenue growth by and gross margin improvement for the second quarter of fiscal 2010; and our expectation that such improvement will be driven primarily by our protection business. These forward-looking statements are based upon our assumptions about and assessment of the future, which may or may not prove true, and involve a number of risks and uncertainties including, but not limited to whether our customers experience the demand we anticipate for their products based in part upon their input and our order backlog, whether there is increasing economic stability and seasonal growth in end demand as we have assumed in our demand forecast, whether the designed performance of our devices satisfies our customers' requirements so that they continue to design our devices into their products, whether our devices perform to their design specification, whether competitors introduce devices at lower prices than our devices causing price erosion and/or loss of market share for us, whether we encounter any difficulty in obtaining the requisite supply of quality product from our contract manufacturers, contract assemblers and test houses without interruption or unanticipated price increases, whether we are having success in our R&D programs so that we desire to continue spending at a heightened level, and whether we incur unexpected operating expenses or obstacles to our cost reductions as well as the risk factors detailed in the company's Form 8K, 10K, and 10Q filings with the Securities and Exchange Commission. Due to these and other risks, the company's future actual results could differ materially from those discussed above. These forward-looking statements speak only as to the date of this release, and, except as required by law, we undertake no obligation to publicly release updates or revisions to these statements whether as a result of new information, future events, or otherwise.

In addition to disclosing financial results calculated in accordance with U.S. generally accepted accounting principles (GAAP), the company's earnings release contains non-GAAP financial measures that exclude the effects of employee share-based compensation and the requirements of SFAS No. 123R, "Share-based Payment" ("123R"). The non-GAAP financial measures used by management and disclosed by the company exclude the income statement effects of all forms of employee share-based compensation and the effects of 123R upon the number of diluted shares used in calculating non-GAAP earnings per share. The non-GAAP financial measures also exclude Arques Technology acquisition related costs, including amortization of acquisition-related intangibles and one-time charges during the third quarter of fiscal 2009 for goodwill and intangible asset impairment. In addition, these non-GAAP measures utilize a tax rate that is based upon the income taxes the company expects to actually pay relating to the activities and results for the relevant fiscal time period. The non-GAAP financial measures disclosed by the company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to those financial statements should be carefully evaluated. The non-GAAP financial measures used by the company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. Set forth below are reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures. For additional information regarding these non-GAAP financial measures, see the Form 8-K dated May 6, 2009 that the company has filed with the Securities and Exchange Commission.

California Micro Devices Corporation CONDENSED CONSOLIDATED BALANCE SHEETS (amounts in thousands, except share data) (Unaudited) March 31, March 31, 2009 2008 ---- ---- ASSETS Current assets: Cash and cash equivalents $45,605 $32,925 Short-term investments - 18,671 Accounts receivable, net 4,168 6,155 Inventories 5,228 6,434 Deferred tax assets 183 1,508 Prepaid expenses and other current assets 1,089 1,188 ----- ----- Total current assets 56,273 66,881 Property, plant and equipment, net 3,525 5,596 Goodwill - 5,258 Intangible assets, net 23 267 Other long-term assets 92 83 --- --- TOTAL ASSETS $59,913 $78,085 ======= ======= LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $3,775 $6,120 Accrued liabilities 1,585 2,165 Deferred margin on shipments to distributors 974 1,904 Current maturities of capital lease obligations - 132 --- --- Total current liabilities 6,334 10,321 Other long-term liabilities 221 350 --- --- Total liabilities 6,555 10,671 ----- ------ Commitments and contingencies Stockholders' equity: Preferred stock - 10,000,000 shares authorized; none issued and outstanding as of March 31, 2009 and March 31, 2008 - - Common stock and additional paid-in capital - $0.001 par value; 50,000,000 shares authorized; 23,553,019 shares issued and 22,879,696 shares outstanding as of March 31, 2009 and 23,302,274 shares issued and outstanding as of March 31, 2008 120,383 117,806 Accumulated other comprehensive income - 48 Accumulated deficit (65,602) (50,440) ------- ------- 54,781 67,414 Treasury stock, at cost; 673,323 shares as of March 31, 2009 and none as of March 31, 2008 (1,423) - ------ --- Total stockholders' equity 53,358 67,414 ------ ------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $59,913 $78,085 ======= ======= California Micro Devices Corporation CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (amounts in thousands, except per share data) (Unaudited) Three Months Twelve Months Ended March 31, Ended March 31, ---------------- ---------------- 2009 2008 2009 2008 ---- ---- ---- ---- Net sales $9,172 $15,016 $49,273 $59,217 Cost of sales 6,646 9,605 34,425 39,599 ----- ----- ------ ------ Gross Margin 2,526 5,411 14,848 19,618 Operating expenses: Research and development 2,465 2,017 10,303 7,097 Selling, general and administrative 3,446 4,093 14,652 15,264 Goodwill impairment - - 5,258 - Amortization / impairment of intangible assets 6 41 133 165 --- --- --- --- Total operating expenses 5,917 6,151 30,346 22,526 ----- ----- ------ ------ Operating loss (3,391) (740) (15,498) (2,908) Other income, net 29 479 1,647 2,390 -- --- ----- ----- Loss before income taxes (3,362) (261) (13,851) (518) Provision for income taxes 6 884 1,311 896 --- --- ----- --- Net loss $(3,368) $(1,145) $(15,162) $(1,414) ======= ======= ======== ======= Net loss per share-basic and diluted $(0.15) $(0.05) $(0.65) $(0.06) ====== ====== ====== ====== Weighted average common shares outstanding-basic and diluted 22,965 23,299 23,246 23,233 ====== ====== ====== ====== California Micro Devices Corporation FINANCIAL SUMMARY (NON-GAAP) (amounts in thousands, except per share data) (Unaudited) GAAP TO NON-GAAP RECONCILIATION: Three Months Twelve Months Ended March 31, Ended March 31, ---------------- ---------------- 2009 2008 2009 2008 ---- ---- ---- ---- Gross Margin: GAAP Gross Margin $2,526 $5,411 $14,848 $19,618 GAAP Gross Margin % 28% 36% 30% 33% Reconciling items: Stock-based compensation expense under SFAS 123(R), net of tax $67 $87 $334 $349 NON-GAAP Gross Margin $2,593 $5,498 $15,182 $19,967 NON-GAAP Gross Margin % 28% 37% 31% 34% Net Loss: GAAP Net Loss $(3,368) $(1,145) $(15,162) $(1,414) Reconciling items: Goodwill impairment - - 5,258 - Amortization / impairment of intangible assets 6 41 244 165 Stock-based compensation expense under SFAS 123(R), net of tax 418 587 2,045 2,333 Difference between effective tax rate and cash basis tax rate 44 873 1,265 837 --- --- ----- --- Total Adjustments 468 1,501 8,812 3,335 NON-GAAP Net Income (Loss) $(2,900) $356 $(6,350) $1,921 Net Income (Loss) Per Share - Basic: GAAP Net Loss Per Share - Basic $(0.15) $(0.05) $(0.65) $(0.06) Reconciling items: Goodwill impairment - - 0.23 - Amortization / impairment of intangible assets - - 0.01 0.01 Stock-based compensation expense under SFAS 123(R), net of tax 0.02 0.03 0.09 0.10 Difference between effective tax rate and cash basis tax rate - 0.04 0.05 0.03 --- ---- ---- ---- Total Adjustments $0.02 $0.07 $0.38 $0.14 NON-GAAP Net Income (Loss) Per Share - Basic $(0.13) $0.02 $(0.27) $0.08 Weighted average shares used to calculate GAAP EPS - Basic 22,965 23,299 23,246 23,233 Weighted average shares used to calculate NON-GAAP EPS - Basic 22,965 23,299 23,246 23,233 Net Income (Loss) Per Share - Diluted: GAAP Net Loss Per Share - Diluted $(0.15) $(0.05) $(0.65) $(0.06) Reconciling items: Goodwill impairment - - 0.23 - Amortization / impairment of intangible assets - - 0.01 0.01 Stock-based compensation expense under SFAS 123(R), net of tax 0.02 0.03 0.09 0.10 Difference between effective tax rate and cash basis tax rate - 0.04 0.05 0.03 --- ---- ---- ---- Total Adjustments $0.02 $0.07 $0.38 $0.14 NON-GAAP Net Income (Loss) Per Share - Diluted $(0.13) $0.02 $(0.27) $0.08 Weighted average shares used to calculate GAAP EPS - Diluted 22,965 23,299 23,246 23,233 Weighted average shares used to calculate NON-GAAP EPS - Diluted 22,965 23,306 23,246 23,342

California Micro Devices Corporation

CONTACT: Kevin Berry, Chief Financial Officer of California Micro
Devices, +1-408-934-3144, kevinb@cmd.com

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

EMBARQ Reports First Quarter Results Highlighted by Record Cash FlowCompany Declares Second Quarter Dividend

OVERLAND PARK, Kan., May 6 /PRNewswire-FirstCall/ -- EMBARQ today announced first quarter 2009 results, which for the second quarter in a row were highlighted by record cash flow before dividends. The company reported total revenue of $1.35 billion, operating income of $410 million, diluted earnings per share of $1.21 and cash flow before dividends of $339 million.

"Our primary objectives as we entered 2009 were to maintain the momentum that enabled us to post record cash flow in 2008 and to continue to make progress on our merger with CenturyTel," said Tom Gerke, EMBARQ Chief Executive Officer. "In both respects, I think the EMBARQ team clearly demonstrated their continued commitment by delivering another successful quarter."

First Quarter Highlights -- First quarter cash flow before dividends was a record $339 million, an increase of 18.1% over the prior year period. -- The company reported record first quarter diluted earnings per share from continuing operations of $1.39. -- Consumer line loss was approximately flat compared to the year-ago period for the first time since the fourth quarter of 2007. -- First quarter high-speed Internet subscriber additions were 40,000, a 67% increase over each of the last three quarters of 2008. -- The company doubled the subscriber base of its RescueIT(SM) computer support service, ending the quarter with approximately 36,000 subscribers. -- EMBARQ Business introduced packages that bundle high-speed Internet service with value-added IT services, such as desktop security, remote storage and the company's RescueIT computer support service. -- The company completed the previously announced sale of its distribution and supply chain subsidiary, Embarq Logistics, Inc., to KGP Telecommunications, Inc. -- The company made progress toward the closing of its merger with CenturyTel and is now waiting for clearance from the FCC and 5 of the 33 states in which the combined company will conduct business. Financial Results

EMBARQ reported net operating revenues of $1.35 billion for the first quarter, a 7.6% decrease from the prior-year period. Although high-speed Internet and data revenues increased 7.5% and 2.5%, respectively, this growth was more than offset by a 10.5% year-over-year decline in voice revenue.

The decline in revenue was partially offset by increased operating efficiency. Driven by improvement in all expense categories, total operating expenses improved 8.2% year-over-year. As a result, operating income declined just 6% from the record level in the year-ago period to $410 million. Meanwhile, operating margin increased from 29.9% a year ago to 30.5% in the first quarter of 2009.

Earnings per share were negatively impacted by a $26 million non-recurring loss primarily related to the first quarter sale of EMBARQ Logistics.

Diluted earnings per share from continuing operations were a record $1.39, up from $1.38 in the year-ago period. Including discontinued operations, diluted earnings per share were $1.21 compared to $1.37 in the prior-year period.

Capital Expenditures and Cash Flow

Cash flow before dividends totaled $339 million in the first quarter, an increase of 18.1% from $287 million in the year-ago quarter and the highest level EMBARQ has reported since becoming public in May 2006. The company's strong cash flow results were driven by improved operating efficiency and reduced capital requirements.

Capital spending continues to experience cyclical favorability as network expansion requirements decline with the decrease in new residential construction. As a result, net capital expenditures were $105 million in the quarter, compared to $177 million in the year ago period.

During the first quarter, EMBARQ paid a dividend of $0.6875 per share. The company reduced its net debt by $443 million, ending the period with net debt of $5.195 billion.

Subscriber Results

EMBARQ reported a decline of 144,000 access lines in the first quarter, compared to a decline of 120,000 lines in the year ago period. The 24,000 increase in line loss over the prior-year period was primarily driven by the impact of general economic conditions on business customers. In contrast, consumer line loss was approximately flat compared to the year-ago period for the first time since the fourth quarter of 2007. The company ended the quarter with 5.55 million access lines in total.

During the quarter the company added 40,000 high-speed Internet subscribers, a 67% improvement over each of the last three quarters, ending the period with 1.45 million subscribers. Video net additions totaled 13,000 in the period as the company increased the number of its customers subscribing to video services to 310,000, up 43% in the last year.

Outlook

In light of its pending merger with CenturyTel, the company did not update the outlook it provided on Feb. 12, 2009. However, the company did have the following comments regarding the second quarter:

-- The rate of revenue decline is expected to be similar to or slightly better than the first quarter. -- Capital spending is expected to increase sequentially but remain below the prior year level. -- Cash flow before dividends is expected to be above the prior year level. Second Quarter Dividend

The EMBARQ board of directors has declared a dividend on the company's common stock of $0.6875 per share payable June 30, 2009 to shareholders of record at the close of business on June 16, 2009, provided that payment of the dividend is contingent upon, and shall be made only if, the company's merger with CenturyTel has not become effective on or prior to June 16, 2009.

Conference Call

Today EMBARQ will hold a conference call beginning at 4:30 p.m. EDT. Dial-in numbers for the conference call are (866) 245-2310 (U.S. and Canada) and (816) 650-2838 (International). The code required to access the call is 92372147. Please plan to dial-in at least five minutes before the scheduled start time. A simultaneous audio webcast of the call and a downloadable presentation will be available at http://www.embarq.com/investors.

For those unable to participate live, a replay of the call will be available until May 16, 2009 by dialing (800) 642-1687 (U.S. and Canada) or (706) 645-9291 (International) as well as at http://www.embarq.com/investors. The accompanying presentation will also be archived and available for download at this website.

Cautionary Statement

This news release contains "forward-looking statements" within the meaning of the securities laws, including statements relating to EMBARQ's outlook or expectations for earnings, revenues, expenses, depreciation and amortization, asset quality, access line declines, cash flow measures, customer growth, wireless dilution, or other future financial or business performance, strategies or expectations. The words "estimate," "plan," "project," "forecast," "expect," "intend," "anticipate," "believe," "seek," "target," "guidance," "outlook" and similar expressions are intended to identify forward looking statements. These statements reflect management's judgment based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. With respect to these forward-looking statements, management has made assumptions regarding, among other things, customer and network usage, customer retention, pricing, operating costs, technology, and the economic and regulatory environment.

Future performance cannot be ensured. Actual results may differ materially from those in the forward looking statements. Some factors that could cause actual results to differ include but are not limited to: failure to obtain, delays in obtaining or adverse conditions contained in any regulatory approvals required for the Embarq-CenturyTel merger; failure to consummate or delay in consummating the merger for other reasons; the effects of vigorous competition in the markets in which we operate, including access line loss to cable operators and wireless providers; the impact of new, emerging and competing technologies on our business; the effect of changes in the legal and regulatory environment and the impact of compliance with regulatory mandates, including pending and future federal and state access and USF proceedings; potential fluctuations in our financial performance, including revenues, capital expenditures and operating expenses; the impact of any adverse change in the ratings assigned to our debt by ratings agencies on the cost of financing or the ability to raise additional financing if needed; the effects of mergers, consolidations or other unexpected developments in the industries relevant to our operations; the failure to realize expected improvement in operating efficiencies; the costs and business risks with the development of new products and services; the uncertainties related to our investments in networks, systems and other businesses; the uncertainties related to the implementation of our business strategies; the inability of third parties to perform to our requirements under agreements related to our business operations; our ownership of or ability to license technology that may be necessary to expand our business offerings; restrictions in our patent agreement with Sprint Nextel; unexpected adverse results of legal proceedings involving our company; the impact of equipment failure or other breaches of network or information technology security; potential work stoppages; a determination by the IRS that the spin-off from Sprint Nextel should be treated as a taxable transaction; volatility and other market conditions in the equity and credit markets, including impacts on the stability of banks and other financial institutions; the effects of changes in both general and local economic conditions on the markets we serve, which can impact demand for our products and services; customer purchasing decisions; collectability of revenue; required levels of capital expenditures related to new construction of residences and businesses; the possible impact of adverse changes in political or other external factors over which we have no control, including hurricanes and other severe weather; and other risks referenced in our Annual Report on Form 10-K, including in Part I, Item 1A, "Risk Factors", and from time to time in other filings of ours with the SEC.

Forward-looking statements speak only as of the date they were made, and EMBARQ undertakes no obligation to update or revise any forward-looking statements in light of new information or future events. You should not place undue reliance on any forward-looking statements, which speak only as of the date of this release. EMBARQ is not obligated to publicly update or release any revisions to these forward-looking statements to reflect any events or circumstances after the date of this news release.

Selected Financial Data (Unaudited) - Current Period Results Compared to Prior Year Consolidated 1Q-09 1Q-08 Fav/(Unfav) ------------ ----- ----- ----------- Net Operating Revenues Voice $916 $1,024 ($108) -10.5% Data 203 198 5 2.5% High-speed Internet 143 133 10 7.5% Wireless 9 16 (7) -43.8% Other services 55 62 (7) -11.3% --- --- --- Service revenues 1,326 1,433 (107) -7.5% Product revenues 20 23 (3) -13.0% --- --- --- Total Net Operating Revenues 1,346 1,456 (110) -7.6% Operating Expenses Cost of services 343 389 46 11.8% Cost of products 20 33 13 39.4% Selling, general and administrative 329 348 19 5.5% Depreciation 244 250 6 2.4% --- --- --- Total Operating Expenses 936 1,020 84 8.2% --- ----- --- Operating Income $410 $436 ($26) -6.0% Interest expense (96) (104) (8) 7.7% Other income, net 1 1 - n/a --- --- --- Income Before Taxes $315 $333 ($18) -5.4% Income tax expense (115) (119) 4 3.4% ---- ---- --- Income from continuing operations $200 $214 ($14) -6.5% Loss from discontinued operations, net of taxes (26) (2) (24) n/a --- --- --- Net Income $174 $212 $(38) -17.9% ==== ==== ==== Diluted Earnings Per Share Continuing operations $1.39 $1.38 $0.01 0.7% Discontinued operations ($0.18) ($0.01) ($0.17) n/a ------ ------ ------ Total Diluted Earnings Per Share $1.21 $1.37 ($0.16) -11.7% ===== ===== ====== Selected Financial Data (Unaudited) - Current Period Results Compared to Prior Quarter Consolidated 1Q-09 4Q-08 Fav/(Unfav) ------------ ----- ----- ----------- Net Operating Revenues Voice $916 $937 ($21) -2.2% Data 203 202 1 0.5% High-speed Internet 143 141 2 1.4% Wireless 9 12 (3) -25.0% Other services 55 60 (5) -8.3% --- --- --- Service revenues 1,326 1,352 (26) -1.9% Product revenues 20 34 (14) -41.2% --- --- --- Total Net Operating Revenues 1,346 1,386 (40) -2.9% Operating Expenses Cost of services 343 341 (2) -0.6% Cost of products 20 27 7 25.9% Selling, general and administrative 329 341 12 3.5% Depreciation 244 253 9 3.6% --- --- --- Total Operating Expenses 936 962 26 2.7% --- --- --- Operating Income $410 $424 ($14) -3.3% Interest expense (96) (99) (3) 3.0% Other income, net 1 - 1 n/a --- --- --- Income Before Taxes $315 $325 ($10) -3.1% Income tax expense (115) (129) 14 10.9% ---- ---- --- Income from continuing operations $200 $196 $4 2.0% Loss from discontinued operations, net of taxes (26) (5) (21) n/a --- --- --- Net Income $174 $191 ($17) -8.9% ==== ==== ==== Diluted Earnings Per Share Continuing operations $1.39 $1.36 $0.03 2.2% Discontinued operations ($0.18) ($0.03) ($0.15) n/a ------ ------ ------ Total Diluted Earnings Per Share $1.21 $1.33 ($0.12) -9.0% ===== ===== ====== Non-GAAP Definitions & Reconciliations

The following non-GAAP (generally accepted accounting principles) measures should be used in addition to, but not as a substitute for, the information provided in EMBARQ's consolidated financial statements.

Net Debt

Net debt is consolidated debt, including current maturities, less cash and equivalents. EMBARQ believes that net debt provides useful information about its capital structure.

Reconciliation - Net Debt 1Q09 4Q08 1Q08 ---- ---- ---- Current maturities $2 $2 $99 Long-term debt 5,288 5,743 5,575 Less: Cash and equivalents (95) (107) (52) --- ---- --- Net Debt $5,195 $5,638 $5,622 Net Capital Expenditures

Net capital expenditures are capital expenditures less proceeds from construction reimbursements. EMBARQ believes that net capital expenditures provides useful information about the capital requirements of its operations.

Reconciliation - Net Capital Expenditures 1Q09 4Q08 1Q08 ---- ---- ---- Capital expenditures 108 154 179 Less: Proceeds from construction reimbursements (3) (5) (2) --- --- --- Net Capital Expenditures $105 $149 $177 ---- ---- ---- Cash Flow Before Dividends

Cash flow before dividends is net cash provided by operating activities, excluding the effects of changes in assets and liabilities and other non-cash items, less net capital expenditures. EMBARQ believes that cash flow before dividends provides useful information about its capacity to return value to shareholders and reduce debt.

Reconciliation of Non-GAAP measure - Cash Flow before Dividends 1Q09 4Q08 1Q08 ---- ---- ---- Net cash provided by operating activities $634 $375 $593 Changes in assets and liabilities, net of other non-cash items (216) 69 (131) ---- --- ---- Net Income excluding depreciation 418 444 462 Add: Loss from discontinued operations, net 26 5 2 Less: Net Capital expenditures (105) (149) (177) ---- ---- ---- Cash Flow before Dividends $339 $300 $287 ---- ---- ----

Because Embarq cannot accurately predict the level of cash flow from operating activities and proceeds from construction reimbursements, Embarq does not provide reconciliations to GAAP of its forward looking measures of cash flow before dividends and net capital expenditures.

Other Financial Measures

Average Revenue per Household is calculated by dividing consumer revenues by average primary consumer access lines. While this measure is not defined under accounting principles generally accepted in the United States, the measure uses a GAAP measure as the basis for the calculation. EMBARQ believes Average Revenue per Household provides useful information concerning the success of its bundling initiatives and performance in attracting and retaining high value customers.

HSI Average Revenue per Subscriber is calculated by dividing high-speed Internet revenues by average high-speed Internet subscribers. While this measure is not defined under accounting principles generally accepted in the United States, the measure uses a GAAP measure as the basis for the calculation. EMBARQ believes HSI Average Revenue per Subscriber provides useful information concerning the appeal of its high-speed Internet pricing plans and performance in attracting and retaining high value customers.

Adoption of New Accounting Pronouncements

First quarter 2009 results include the effects of FSP EITF 03-6-1, which concluded that unvested share-based payment awards that contain a nonforfeitable right to receive dividends, whether paid or unpaid, are participating securities and should be included in the computation of basic earnings per share. As required by this statement, prior period earnings per share and weighted average common shares outstanding were adjusted to conform to the provisions of this standard.

The impact to basic and diluted earnings per share and weighted average common shares outstanding was as follows:

Total Earnings per Common Share Year to Date Period Ended March 31, 2008 ----------------------------------- Previously As Adjusted Reported Difference ----------- ---------- ---------- Total Earnings per Common Share Basic $1.38 $1.39 ($0.01) Diluted 1.37 1.38 -0.01 Weighted Average Common Shares Outstanding Basic (millions) 153.8 152.7 1.1 Diluted (millions) 154.3 154.1 0.2 About EMBARQ

Embarq Corporation , headquartered in Overland Park, Kansas, offers a complete suite of communications services. EMBARQ has operations in 18 states and is in the Fortune 500(R) list of America's largest corporations.

For consumers, EMBARQ offers an innovative portfolio of services that includes reliable local and long distance home phone service, high-speed Internet, wireless, and satellite TV from DISH Network(R) -- all on one monthly bill.

For businesses, EMBARQ has a comprehensive range of flexible and integrated services designed to help businesses of all sizes be more productive and communicate with their customers. This service portfolio includes local voice and data services, long distance, Business Class High Speed Internet, wireless, satellite TV from DIRECTV(R), enhanced data network services, voice and data communication equipment and managed network services.

For more information, visit embarq.com. Embarq Corporation Consolidated Statements of Operations ($ in millions, except per share amounts) (unaudited) Quarter Ended March 31, ------------- 2009 2008 ---- ---- Net Operating Revenues Service revenues $1,326 $1,433 Product revenues 20 23 --- --- Total net operating revenue 1,346 1,456 Operating Expenses Cost of services 343 389 Cost of products 20 33 Selling, general and administrative 329 348 Depreciation 244 250 --- --- Total Operating Expenses 936 1,020 --- ----- Operating Income 410 436 Interest expense (96) (104) Other income, net 1 1 --- --- Income from Continuing Operations before Taxes 315 333 Income tax expense (115) (119) ---- ---- Income from Continuing Operations 200 214 Loss from Discontinued Operations, net of taxes (26) (2) --- --- Net Income $174 $212 ==== ==== Basic Earnings Per Share Continuing operations $1.40 $1.39 Discontinued operations (0.18) (0.01) ----- ----- Total Basic Earnings Per Share $1.22 $1.38 ===== ===== Basic weighted average shares 143.2 153.8 Diluted Earnings Per Share Continuing operations $1.39 $1.38 Discontinued operations (0.18) (0.01) ----- ----- Total Diluted Earnings Per Share $1.21 $1.37 ===== ===== Diluted weighted average shares 143.5 154.3 Embarq Corporation Condensed Consolidated Balance Sheets ($ in millions) (unaudited) March 31, December 31, 2009 2008 ---- ---- Assets Cash and equivalents $95 $107 Accounts receivable, net 444 494 Materials and supplies 51 52 Prepaid expenses and other current assets 142 170 Current assets of discontinued operations - 67 --- --- Total current assets 732 890 Net property, plant and equipment 7,251 7,399 Other noncurrent assets 68 70 Noncurrent assets of discontinued operations - 12 --- --- Total noncurrent assets 7,319 7,481 ------ ------ Total assets $8,051 $8,371 ====== ====== Liabilities and stockholders' equity Current maturities of long-term debt $2 $2 Accounts payable 245 279 Payroll and employee benefits 196 219 Accrued operating taxes 86 78 Deferred revenue 175 184 Accrued interest 139 58 Other current liabilities 52 42 Current liabilities of discontinued operations - 34 --- --- Total current liabilities 895 896 Long-term debt 5,288 5,743 Benefit plan obligations 1,332 1,341 Deferred income taxes 872 793 Other noncurrent liabilities 191 206 --- --- Total noncurrent liabilities 7,683 8,083 Stockholders' equity Common stock 2 2 Paid-in capital (193) (193) Retained earnings 1,062 986 Accumulated other comprehensive income (loss) (898) (903) Treasury stock, at cost (500) (500) ---- ---- Total stockholders' equity (527) (608) ------ ------ Total liabilities and stockholders' equity $8,051 $8,371 ====== ====== Embarq Corporation Condensed Consolidated Statements of Cash Flows ($ in millions) (unaudited) Year Ended March 31, ----------- 2009 2008 ---- ---- Operating Activities Net income $174 $212 Adjustments to reconcile net income to net cash provided by operating activities: Loss from discontinued operations 26 2 Depreciation 244 250 Deferred and noncurrent income taxes 79 (20) Provision for losses on accounts receivable 22 21 Stock-based compensation expense 6 9 Other, net 12 11 Changes in assets and liabilities: Accounts receivable 28 18 Materials and supplies and other current assets (3) (21) Accounts payable and other current liabilities 60 131 Noncurrent assets and liabilities, net (14) (26) --- --- Net cash provided by continuing operations 634 587 Net cash provided by discontinued operations - 6 --- --- Net cash provided by operating activities 634 593 Investing Activities Net capital expenditures (105) (177) Proceeds from sale of discontinued operations 12 - Proceeds from sales of assets 7 2 --- --- Net cash used by investing activities (86) (175) --- ---- Financing Activities Changes in debt, net (455) (205) Dividends paid to stockholders (100) (107) Repurchase of common stock - (115) Proceeds from common stock issued 1 4 Other, net (6) (12) --- --- Net cash used by financing activities (560) (435) ---- ---- Change in Cash and Equivalents (12) (17) Cash and Equivalents at Beginning of Period 107 69 --- --- Cash and Equivalents at End of Period $95 $52 === === Embarq Corporation Operating Statistics (Revenues in millions; lines and subscribers in thousands) 1Q-09 (1) 2008 4Q-08 (1) 3Q-08 (1) 2Q-08 (1) 1Q-08 (1) --------- ------- --------- --------- --------- --------- Service and Product Revenues Voice $916 $3,915 $937 $960 $994 $1,024 Data 203 801 202 202 199 198 High-speed Internet 143 549 141 138 137 133 Wireless 9 58 12 13 17 16 Other 55 246 60 64 60 62 --- --- --- --- --- --- Service revenues 1,326 5,569 1,352 1,377 1,407 1,433 Product revenues 20 120 34 31 32 23 --- --- --- --- --- --- Net operating revenues $1,346 $5,689 $1,386 $1,408 $1,439 $1,456 ====== ====== ====== ====== ====== ====== Operating Unit Revenues Consumer $596 $2,518 $602 $619 $641 $656 Business 362 1,530 381 382 386 381 Wholesale 388 1,641 403 407 412 419 --- ----- --- --- --- --- Net operating revenues $1,346 $5,689 $1,386 $1,408 $1,439 $1,456 ====== ====== ====== ====== ====== ====== Access Lines Consumer 3,677 3,778 3,894 4,029 4,172 Business 1,740 1,779 1,815 1,841 1,861 Wholesale 135 139 144 152 159 --- --- --- --- --- Total 5,552 5,696 5,853 6,022 6,192 ===== ===== ===== ===== ===== Average Revenue per Household (HH) Consumer revenue $596 $602 $619 $641 $656 Average households 3,503 3,591 3,698 3,821 3,926 ----- ----- ----- ----- ----- Monthly revenue per average HH $56.71 $55.88 $55.80 $55.92 $55.70 ====== ====== ====== ====== ====== High-speed Internet Lines Consumer 1,240 1,200 1,177 1,155 1,132 Business 173 172 172 170 167 Wholesale 39 40 39 39 41 --- --- --- --- --- Total 1,452 1,412 1,388 1,364 1,340 ===== ===== ===== ===== ===== HSI Average Revenue per Subscriber High-speed Internet revenue $143 $141 $138 $137 $133 Average HSI subscribers 1,432 1,400 1,376 1,352 1,309 ----- ----- ----- ----- ----- Monthly revenue per average subscriber $33.29 $33.57 $33.43 $33.78 $33.87 ====== ====== ====== ====== ====== Wireless Subscribers Consumer 56 71 83 97 101 Business 6 7 9 10 11 --- --- --- --- --- Total 62 78 92 107 112 === === === === === Entertainment Subscribers 310 297 284 239 217 === === === === === (1) unaudited

Photo: http://www.newscom.com/cgi-bin/prnh/20060516/EMBARQLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com EMBARQ

CONTACT: Media, Debra Peterson, +1-913-323-4881,
debra.d.peterson@embarq.com, or Investor Relations, Kevin Olin,
1-866-591-1964, investorrelations@embarq.com, both of EMBARQ

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

Open Text Reports Third Quarter Fiscal 2009 Financial Results

WATERLOO, ON, May 6 /PRNewswire-FirstCall/ -- Open Text(TM) Corporation (TSX: OTC), a leading provider of Enterprise Content Management (ECM) software, today announced unaudited financial results for its third quarter, ending March 31, 2009.(1)

Total revenue for the third quarter was $192.0 million, up 7% compared to $178.8 million for the same period in the prior fiscal year. License revenue in the third quarter was $51.9 million, compared to $51.5 million for the same period in the prior fiscal year.

Adjusted net income for the third quarter was $31.4 million or $0.59 per share on a diluted basis, up 24% compared to $25.4 million or $0.48 per share on a diluted basis, for the same period in the prior fiscal year. Net income for the third quarter, in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"), was $22.0 million or $0.41 per share on a diluted basis, compared to $7.3 million or $0.14 per share on a diluted basis, for the same period in the prior fiscal year.(3)

Total cash and cash equivalents, as of March 31, 2009 was $237.0 million, after deducting the net cash payment for Captaris of approximately $100.0 million. This compares to $254.9 million as of June 30, 2008. Accounts receivable as of March 31, 2009, totaled $111.7 million, compared to $134.4 million as of June 30, 2008 and Days Sales Outstanding (DSO) was 52 days at the end of the third quarter of Fiscal 2009, compared to 60 days at June 30, 2008.

Operating cash flow in the third quarter of fiscal 2009 was $72.9 million, up 46% compared to $49.8 million in the third quarter of the prior fiscal year and up 83% compared to $39.8 million in the previous quarter.

"Compliance based solutions continue to lead our sales initiatives, and we are experiencing renewed demand for the classic ECM solutions that improve business processes and efficiencies, to achieve rapid return-on-investment for our customers," said John Shackleton, Chief Executive Officer of Open Text. "In the current economic environment we are focused on the bottom line and remain committed to meeting our profitability targets while generating strong cash flow from operations."

Please see notes (2) and (3) below for a reconciliation of non-U.S. GAAP based financial measures used in this press release, to U.S. GAAP based financial measures.

Teleconference Call

Open Text will host a conference call on May 6, 2009 at 5:00 p.m. ET to discuss the financial results of its third quarter ending March 31, 2009.

Date: Wednesday, May 6, 2009 Time: 5:00 p.m. ET/2:00 p.m. PT Length: 60 minutes Where: 416-644-3415 800-733-7571 (Toll Free)

Please dial-in approximately 10 minutes before the teleconference is scheduled to begin. A replay of the call will be available beginning May 6, 2009 at 7:00 p.m. ET through 11:59 p.m. on May 20, 2009 and can be accessed by dialing 416-640-1917 and using pass code 21302245 followed by the number sign.

For more information or to listen to the call via Web cast, please use the following link:

http://www.opentext.com/events/wa-event.html?id=7573788 About Open Text

Open Text(TM) is the world's largest independent provider of Enterprise Content Management (ECM) software. The Company's solutions manage information for all types of business, compliance and industry requirements in the world's largest companies, government agencies and professional service firms. Open Text supports approximately 46,000 customers and millions of users in 114 countries and 12 languages. For more information about Open Text, visit http://www.opentext.com/.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements, including statements about the financial conditions, and results of operations and earnings for Open Text Corporation ("Open Text" or "the Company"). Forward-looking statements in this press release are not promises or guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results to differ materially from those anticipated. The Company cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The results included in this press release are unaudited and therefore are deemed to be forward-looking statements. Factors that may cause actual results or earnings to differ materially from such forward-looking statements include, among others, the following: (i) the future performance, financial and otherwise, of Open Text; (ii) the ability of Open Text to bring new products to market and to increase sales; (iii) the strength of the Company's product development pipeline; (iv) the Company's growth and profitability prospects; (v) the estimated size and growth prospects of the ECM market; (vi) the Company's competitive position in the ECM market and its ability to take advantage of future opportunities in this market; (vii) the benefits of the Company's products to be realized by customers; (viii) the demand for the Company's product, the extent of deployment of the Company's products in the ECM marketplace and delays in the purchasing decisions of its customers; (ix) risks related to the integration of acquisitions and related restructuring efforts, including the quantum of restructuring charges and the timing thereof; (10) fluctuations in currency exchange rates; and (xi) technical, logistical or planning issues in connection with the deployment of the Company's products or services. More information about other risks and other potential factors that could affect the Company's business and financial results are detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended June 30, 2008 and Form 10-Q for the quarters ended September 30, 2008 and December 31, 2008. Forward-looking statements are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligation to update forward-looking statements should circumstances or management's beliefs or opinions change.

Notes (1) Based on comparison of historical revenue figures publicly disseminated by companies in the ECM sector. All dollar amounts in this press release are expressed in U.S. Dollars unless otherwise indicated. (2) In addition to these GAAP and adjusted results, the Company has provided financial information in the table below that adds-back maintenance revenue eliminated due to the impact of purchase accounting entries on deferred revenue and the impact of interest expense. Management believes that the furnishing of these adjustments provides a consistent basis for comparison between quarters and helps to more accurately reflect Open Text's underlying operating results. Three Three months months ended ended March March (in millions of US dollars except share data) 31, 2009 31, 2008 GAAP Revenue $ 192.0 $ 178.8 Maintenance revenue adjustment for purchase accounting 0.5 - --------- --------- Non-GAAP revenue $ 192.5 $ 178.8 --------- --------- --------- --------- Adjusted Net Income $ 31.4 $ 25.4 Maintenance revenue adjustment for purchase accounting 0.5 - Net Interest Expense 2.4 6.7 Income tax effect (0.9) (2.0) --------- --------- Non-GAAP net income $ 33.4 $ 30.1 --------- --------- --------- --------- (3) Use of U.S. Non-GAAP financial measures In addition to reporting financial results in accordance with U.S. GAAP, the Company provides adjusted net income and adjusted earnings per share (EPS), which are non U.S. GAAP financial measures. The Company uses adjusted EPS and adjusted net income to supplement the information provided in its consolidated financial statements, which are presented in accordance with U.S. GAAP. The Company believes the provision of these non U.S. GAAP measures allows investors to evaluate the operational and financial performance of the Company's core business using the same evaluation measures that management uses and is, therefore, a useful indication of Open Text's performance or expected performance of recurring operations and facilitates for period-to-period comparison of operating performance. The presentation of adjusted net income and adjusted EPS is not meant to be a substitute for net income or EPS presented in accordance with U.S. GAAP, but rather should be evaluated in conjunction with and as a supplement to such U.S. GAAP measures. These non U.S. GAAP financial measures have certain limitations in that they do not have a standardized meaning and thus the Company's definition may be different from similar non U.S. GAAP financial measures used by other companies and/or analysts and may differ from period to period. Thus, it may be more difficult to compare the Company's financial performance to that of other companies. However, the Company's management attempts to compensate for these limitations by providing the relevant disclosure of the items excluded in the calculation of adjusted net income and adjusted EPS both in its reconciliation to the U.S. GAAP financial measures of net income and EPS and its consolidated financial statements, all of which should be considered when evaluating the Company's results. Open Text strongly encourages investors to review its financial information in its entirety and not to rely on a single financial measure. Adjusted net income and adjusted EPS are calculated as net income and net income per share on a diluted basis, excluding, where applicable, the effect of amortization of acquired intangible assets, other income (expense), share-based compensation expense, and special charges (recoveries), all net of tax. The Company's management believes that the presentation of adjusted net income and adjusted EPS provides useful information to investors because it excludes non-operational charges and is based on the way the Company's management evaluates the performance of the Company's business for use in the Company's internal reports and makes operating decisions. The term "non-operational charge" is defined by the Company as a charge that does not impact operating decisions taken by the Company's management and excludes certain items, such as amortization of acquired intangibles, other income (expense), share-based compensation expense, special charges (recoveries), and the taxation impact of these items. The following unaudited charts provide a reconciliation of U.S. GAAP based financial measures to non U.S. GAAP based financial measures referred to in this press release: Reconciliation of (unaudited) U.S. GAAP based Net Income to Adjusted Net Income (in millions of U.S. dollars) for the three months ended March 31, 2009 and 2008: Three Three months months ended ended March March 31, 2009 31, 2008 --------- --------- GAAP based "Net Income"........................ $ 22.0 $ 7.3 Special Charges/(recovery)..................... 1.8 0.0 Amortization of intangibles.................... 22.8 18.5 Other (Income)/Expense......................... (11.7) 6.8 Share-based compensation....................... 1.4 1.1 Tax Impact of Above............................ (4.9) (8.3) --------- --------- Non-GAAP based "Adjusted Net Income"........... $ 31.4 $ 25.4 Reconciliation of (unaudited) US GAAP based EPS to non-U.S. GAAP based EPS (calculated on a diluted basis) for the three months ended March 31, 2009 and 2008: Three Three months months ended ended March March 31, 2009 31, 2008 --------- --------- GAAP based "Net Income"......................... $ 0.41 $ 0.14 Special Charges/(recovery)...................... 0.03 0.00 Amortization of intangibles..................... 0.43 0.35 Other (Income)/Expense.......................... (0.22) 0.13 Share-based compensation........................ 0.03 0.02 Tax Impact of Above............................. (0.09) (0.16) --------- --------- Non-GAAP based "Adjusted Net Income"............ $ 0.59 $ 0.48 (4) The following table provides a composition of our major currencies for revenue and expenses, expressed as a percentage, for the third quarter of Fiscal 2009: % of % of Currencies Revenue Expenses* ------------------------------------------------- ------- ----------- EURO............................................. 27% 26% GBP.............................................. 9% 7% CHF.............................................. 6% 4% CAD.............................................. 6% 22% USD.............................................. 46% 35% Others........................................... 6% 6% ------- ----------- Total............................................ 100% 100% ------------------- ------------------- * Expenses include all cost of revenues and operating expenses included within the Condensed Consolidated Statements of Income, except for amortization of intangible assets, share-based compensation and special charges. OPEN TEXT CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands of U.S. Dollars, except share data) March 31, June 30, 2009 2008 ------------ ------------ ASSETS (unaudited) Current assets: Cash and cash equivalents $ 237,048 $ 254,916 Accounts receivable trade, net of allowance for doubtful accounts of $3,784 as of March 31, 2009 and $3,974 as of June 30, 2008 111,731 134,396 Inventory 1,939 - Income taxes recoverable 6,895 16,763 Prepaid expenses and other current assets 14,401 10,544 Deferred tax assets 16,838 13,455 ------------ ------------ Total current assets 388,852 430,074 Investments in marketable securities 6,656 - Capital assets 39,202 43,582 Goodwill 564,018 564,648 Acquired intangible assets 354,743 281,824 Deferred tax assets 61,339 59,881 Other assets 11,245 10,491 Long-term income taxes recoverable 41,073 44,176 ------------ ------------ $ 1,467,128 $ 1,434,676 ------------ ------------ ------------ ------------ LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 116,372 $ 99,035 Current portion of long-term debt 3,407 3,486 Deferred revenues 193,676 176,967 Income taxes payable 1,705 13,499 Deferred tax liabilities 3,315 4,876 ------------ ------------ Total current liabilities 318,475 297,863 Long-term liabilities: Accrued liabilities 19,984 20,513 Pension liability 15,790 - Long-term debt 299,174 304,301 Deferred revenues 7,305 2,573 Long-term income taxes payable 51,472 54,681 Deferred tax liabilities 136,776 109,912 ------------ ------------ Total long-term liabilities 530,501 491,980 Minority interest - 8,672 Shareholders' equity: Share capital 52,618,018 and 51,151,666 Common Shares issued and outstanding at March 31, 2009 and June 30, 2008, respectively; Authorized Common Shares: unlimited 456,278 438,471 Additional paid-in capital 50,991 39,330 Accumulated other comprehensive income 25,885 110,819 Retained earnings 84,998 47,541 ------------- ------------ Total shareholders' equity 618,152 636,161 ------------- ------------ $ 1,467,128 $ 1,434,676 ------------- ------------ ------------- ------------ OPEN TEXT CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands of U.S. Dollars, except per share data) (Unaudited) Three months ended Nine months ended March 31, March 31, ------------------------- ------------------------- 2009 2008 2009 2008 ------------ ------------ ------------ ------------ Revenues: License $ 51,919 $ 51,534 $ 166,845 $ 150,952 Customer support 101,949 91,606 300,816 268,524 Service and other 38,167 35,622 114,648 105,787 ------------ ------------ ------------ ------------ Total revenues 192,035 178,762 582,309 525,263 ------------ ------------ ------------ ------------ Cost of revenues: License 4,496 3,093 12,670 11,296 Customer support 17,304 14,292 50,227 41,081 Service and other 30,288 28,856 89,898 86,552 Amortization of acquired technology-based intangible assets 11,625 10,440 34,171 30,900 ------------ ------------ ------------ ------------ Total cost of revenues 63,713 56,681 186,966 169,829 ------------ ------------ ------------ ------------ Gross profit 128,322 122,081 395,343 355,434 ------------ ------------ ------------ ------------ Operating expenses: Research and development 28,809 27,990 87,335 78,120 Sales and marketing 44,426 41,307 138,605 121,466 General and administrative 17,937 18,268 54,604 52,233 Depreciation 3,229 2,909 8,847 9,645 Amortization of acquired customer- based intangible assets 11,176 8,077 29,529 23,006 Special charges (recoveries) 1,788 (14) 13,234 (122) ------------ ------------ ------------ ------------ Total operating expenses 107,365 98,537 332,154 284,348 ------------ ------------ ------------ ------------ Income from operations 20,957 23,544 63,189 71,086 ------------ ------------ ------------ ------------ Other income (expense), net 11,655 (6,831) (148) (12,341) Interest expense, net (2,431) (6,684) (10,772) (22,123) ------------ ------------ ------------ ------------ Income before income taxes 30,181 10,029 52,269 36,622 Provision for income taxes 8,146 2,594 14,761 10,448 ------------ ------------ ------------ ------------ Net income before minority interest 22,035 7,435 37,508 26,174 Minority interest - 168 51 422 ------------ ------------ ------------ ------------ Net income for the period $ 22,035 $ 7,267 $ 37,457 $ 25,752 ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ Net income per share-basic $ 0.42 $ 0.14 $ 0.72 $ 0.51 ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ Net income per share-diluted $ 0.41 $ 0.14 $ 0.71 $ 0.49 ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ Weighted average number of Common Shares outstanding -basic 52,312 50,979 51,825 50,666 ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ Weighted average number of Common Shares outstanding- diluted 53,441 52,789 53,122 52,424 ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands of U.S. Dollars) (Unaudited) Three months ended Nine months ended March 31, March 31, ------------------------- ------------------------- 2009 2008 2009 2008 ------------ ------------ ------------ ------------ Cash flows from operating activities: Net income for the period $ 22,035 $ 7,267 $ 37,457 $ 25,752 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 26,030 21,426 72,547 63,551 In-process research and development - - 121 500 Share-based compensation expense 1,424 1,077 3,957 2,795 Employee long-term incentive plan (409) 733 2,396 1,490 Excess tax benefits from share-based compensation (1,729) (101) (8,382) (867) Undistributed earnings related to minority interest - 168 51 422 Pension accruals 218 - 1,124 - Amortization of debt issuance costs 281 293 831 1,004 Unrealized (gain) loss on financial instruments (941) 2,728 (134) 5,579 Loss on sale and write down of capital assets 84 - 353 - Deferred taxes (7,492) (506) (3,577) (4,619) Changes in operating assets and liabilities: Accounts receivable 15,107 (14,597) 47,897 (7,018) Inventory 289 - (320) - Prepaid expenses and other current assets (2,564) (1,811) (3,425) (2,008) Income taxes 3,187 (2,662) 9,656 5,892 Accounts payable and accrued liabilities (5,080) (9,321) (21,177) (7,849) Deferred revenue 24,309 44,938 (1,304) 36,055 Other assets (1,862) 176 (528) 686 ------------ ------------ ------------ ------------ Net cash provided by operating activities 72,887 49,808 137,543 121,365 Cash flows from investing activities: Net (acquisitions)/ disposals of capital assets (4,214) (2,028) (6,308) (5,414) Purchase of a division of Spicer Corporation (601) - (11,437) - Purchase of eMotion LLC, net of cash acquired - - (3,635) - Purchase of Captaris Inc., net of cash acquired - - (101,033) - Additional purchase consideration for prior period acquisitions - (12) (4,612) (451) Purchase of an asset group constituting a business - - - (2,209) Investments in marketable securities (5,322) - (8,930) - Acquisition related costs (4,824) (3,065) (12,578) (14,907) ------------ ------------ ------------ ------------ Net cash used in investment activities (14,961) (5,105) (148,533) (22,981) Cash flows from financing activities: Excess tax benefits on share-based compensation expense 1,729 101 8,382 867 Proceeds from issuance of Common Shares 11,635 2,198 17,674 11,415 Repayment of long-term debt (849) (869) (2,570) (62,746) Debt issuance costs - - - (349) ------------ ------------ ------------ ------------ Net cash provided by (used in) financing activities 12,515 1,430 23,486 (50,813) ------------ ------------ ------------ ------------ Foreign exchange gain (loss) on cash held in foreign currencies (6,263) 9,920 (30,364) 18,212 Increase (decrease) in cash and cash equivalents during the period 64,178 56,053 (17,868) 65,783 Cash and cash equivalents at beginning of the period 172,870 159,709 254,916 149,979 ------------ ------------ ------------ ------------ Cash and cash equivalents at end of the period $ 237,048 $ 215,762 $ 237,048 $ 215,762 ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------

Open Text Corporation

CONTACT: Paul McFeeters, Chief Financial Officer, Open Text Corporation,
(905) 762-6121, pmcfeeters@opentext.com; Greg Secord, Vice President, Investor
Relations, Open Text Corporation, (519) 888-7111 ext.2408,
gsecord@opentext.com

NeuStar Announces Results for First Quarter 2009Reports Strong Profitability and Reaffirms Guidance for Full Year 2009

STERLING, Va., May 6 /PRNewswire-FirstCall/ -- NeuStar, Inc. , a provider of essential clearinghouse services to the communications and Internet industry, today announced consolidated results for the quarter ended March 31, 2009, and affirmed its prior guidance for full year 2009 announced on January 28, 2009.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080310/NEUSTARLOGO) Summary of First Quarter Results

Revenue for the first quarter of 2009 totaled $113.2 million, a 4% decrease from $117.4 million in the first quarter of 2008. Net income for the quarter totaled $24.4 million, or $0.32 per diluted share, compared to a net loss of $4.5 million, or $0.06 per diluted share, in the first quarter of 2008. Net income for the first quarter of 2008 would have been $24.6 million, or $0.31 per diluted share, absent a goodwill impairment charge of $29.0 million.

EBITDA for the quarter totaled $48.0 million, or $0.64 per diluted share, compared to $21.1 million, or $0.27 per diluted share, in the corresponding quarter of 2008. EBITDA for the first quarter of 2008 would have been $50.2 million, or $0.63 per diluted share, absent a goodwill impairment charge of $29.0 million.

Discussion of First Quarter Results

NeuStar's anticipated decline in year-over-year quarterly revenue was driven primarily by recent amendments to the pricing terms of its contracts to provide telephone number portability services in the United States. This decrease was partially offset by year-over-year increases in revenue from Ultra Services and Common Short Codes.

-- Addressing revenue increased 8% to $32.5 million, primarily due to the growth from Ultra Services and Common Short Codes, offset by a decrease in revenue under our contracts to provide telephone number portability services. -- Interoperability revenue decreased 13% to $14.3 million, primarily due to a decrease in revenue from Order Management Services and due to a decrease in revenue under our contracts to provide telephone number portability services. -- Infrastructure and other revenue decreased 6% to $66.4 million, primarily due to a decrease in revenue under our contracts to provide telephone number portability services.

Total operating expenses for the first quarter decreased 30% to $74.4 million from $106.4 million for the first quarter of 2008. Total operating expenses would have decreased 4% from $77.4 million absent a goodwill impairment charge of $29.0 million recorded in the first quarter of 2008.

As of March 31, 2009, cash, cash equivalents and short-term investments totaled $205.1 million, an increase of $43.4 million from December 31, 2008.

Management Commentary

Jeff Ganek, NeuStar's chairman and chief executive officer, said, "Despite the tremendous headwinds facing our economy, NeuStar generated solid revenues, with strong profits and cash flows. Working with our customers, we expect to continue to grow our industry leadership position through innovation and new services. Given our position in many large, growing markets, we remain confident that we will emerge from these recessionary conditions stronger than before, poised for the growth ahead."

Paul Lalljie, NeuStar's interim chief financial officer, added, "Our first quarter results reflect our strategic emphasis on cash generation and profitability, while we position the business for future growth. Based on our first quarter performance, our enhanced revenue predictability, and our continuing focus on cost-containment, we are reaffirming our full year 2009 guidance despite the uncertain market environment."

Reconciliation of Non-GAAP Financial Measures

In this press release, NeuStar presents certain non-GAAP financial data. To place this data in an appropriate context, the following is a reconciliation of net income to EBITDA for the three months ended March 31, 2008 and 2009:

Three Months Ended March 31, --------------------- 2008 2009 ------ ------ (in thousands, except per share data) (unaudited) Net (loss) income $(4,460) $24,353 Add: Depreciation and amortization 10,120 9,245 Less: Other expense (income) (1,150) (1,235) Add: Provision for income taxes 16,639 15,661 ------ ------ EBITDA $21,149 $48,024 ====== ====== EBITDA per diluted share $0.27 $0.64 ====== ====== Weighted average diluted common shares outstanding 79,095 75,085 ====== ======

EBITDA and EBITDA per diluted share are not measures of financial performance under GAAP and have no standardized measurement prescribed by GAAP. Management believes that both measures enhance our investors' understanding of our financial performance and the comparability of the company's operating results to prior periods, as well as against the performance of other companies. However, these non-GAAP financial measures may not be comparable with similar non-GAAP financial measures used by other companies and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. The company provides the foregoing historical reconciliations to the most directly comparable GAAP financial measures to allow investors to appropriately consider each non-GAAP financial measure.

In this press release and from time to time, NeuStar describes what its net income, EBITDA and other financial measures would have been in the absence of the $29.0 million goodwill impairment charge recorded in the first quarter of 2008 related to the company's NGM business segment, as well as the resulting net income and EBITDA per diluted share amounts associated with those measures. NeuStar has provided this information because the company believes that it gives investors a better understanding of the impact the goodwill impairment charge had on the company's results for the quarter, and serves as useful data by which to compare the company's operational performance to the prior period in 2008 and future periods. Further, to understand the comparison of the net loss of $0.06 per diluted share for the first quarter of 2008 against the net income of $0.31 per diluted share that the company would have recorded in the absence of the goodwill impairment charge, it is important to note that the weighted average diluted common shares outstanding used to calculate the net loss per diluted share for the quarter was 76.2 million, as compared to the weighted average diluted common shares outstanding used to calculate the net income per diluted share that would have existed if the company had recorded net income for the quarter, which is 79.1 million. This difference in weighted average diluted common shares outstanding results from the exclusion of the dilutive impact of such equity awards in the diluted share calculation when a company records a net loss for the applicable period as opposed to inclusion of equity awards in this calculation when a company records net income. Likewise, EBITDA per diluted share for the first quarter of 2008 is calculated using 79.1 million weighted average diluted common shares outstanding.

Conference Call

As announced on April 20, 2009, NeuStar will conduct an investor conference call to discuss the company's results today at 4:30 p.m. (Eastern Time). Prior to the call, investors may access the conference call over the Internet via the Investor Relations tab of the company's website (http://www.neustar.biz/). Those listening via the Internet should go to the site 15 minutes early to register, download and install any necessary audio software.

The conference call is also accessible via telephone by dialing (888) 218-8142 (international callers dial (913) 312-1418). For those who cannot listen to the live broadcast, a replay will be available through Midnight (Eastern Time) Wednesday, May 13, 2009 by dialing (888) 203-1112 (international callers dial (719) 457-0820) and entering replay PIN 8694852, or by going to the Investor Relations tab of the company's website (http://www.neustar.biz/).

NeuStar will take live questions from securities analysts and institutional portfolio managers; the complete call is open to all other interested parties on a listen-only basis.

This press release and the financial tables, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures that may be used periodically by management when discussing the company's financial results with investors and analysts, are available on the company's website under the Investor Relations tab.

About NeuStar, Inc.

NeuStar is a provider of essential clearinghouse services to the North American communications industry and Internet service providers around the world. Visit NeuStar online at http://www.neustar.biz/.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements about our expectations, beliefs and business results in the future. We have attempted, whenever possible, to identify these forward-looking statements using words such as "may," "will," "should," "projects," "estimates," "expects," "plans," "intends," "anticipates," "believes" and variations of these words and similar expressions. Similarly, statements herein that describe our business strategy, prospects, opportunities, outlooks, objectives, plans, intentions or goals are also forward-looking statements. We cannot assure you that our expectations will be achieved or that any deviations will not be material. Forward-looking statements are subject to many assumptions, risks and uncertainties that may cause future results to differ materially from those anticipated. These potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as disruptions to our clearinghouse operations, modifications to our material contracts, our ability to successfully integrate and support the operations of businesses we acquire, increasing competition, market acceptance of our existing services, our ability to successfully develop and market new services, the uncertainty of whether new services will achieve market acceptance or result in any revenue, and business, regulatory and statutory changes in the communications industry. More information about potential factors that could affect our business and financial results is included in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2008 and subsequent periodic and current reports. All forward-looking statements are based on information available to us on the date of this press release, and we undertake no obligation to update any of the forward-looking statements after the date of this press release.

NEUSTAR, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) Three Months Ended March 31, --------------------------- 2008 2009 -------- -------- (unaudited) Revenue: Addressing $30,161 $32,491 Interoperability 16,440 14,307 Infrastructure and other 70,812 66,390 -------- -------- Total revenue 117,413 113,188 Operating expense: Cost of revenue (excluding depreciation and amortization shown separately below) 24,489 27,843 Sales and marketing 18,724 19,507 Research and development 7,548 4,313 General and administrative 16,482 13,501 Depreciation and amortization 10,120 9,245 Impairment of goodwill 29,021 - -------- -------- 106,384 74,409 -------- -------- Income from operations 11,029 38,779 Other (expense) income: Interest and other expense (458) (1,224) Interest and other income 1,608 2,459 -------- -------- Income before income taxes 12,179 40,014 Provision for income taxes 16,639 15,661 -------- -------- Net (loss) income $(4,460) $24,353 ======== ======== Net (loss) income per common share: Basic $(0.06) $0.33 ======== ======== Diluted $(0.06) $0.32 ======== ======== Weighted average common shares outstanding: Basic 76,247 73,862 ======== ======== Diluted 76,247 75,085 ======== ======== NEUSTAR, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) December 31, March 31, 2008 2009 -------- -------- ASSETS (audited) (unaudited) Current assets: Cash, cash equivalents and short-term investments $161,653 $205,090 Restricted cash 496 445 Accounts and unbilled receivables, net 72,635 64,908 Prepaid expenses and other current assets 18,205 18,620 Income tax receivable 4,621 - Deferred tax asset 11,079 10,696 -------- -------- Total current assets 268,689 299,759 Property and equipment, net 64,160 63,239 Goodwill and intangible assets, net 134,661 132,397 Other non-current assets 47,412 47,934 Deferred tax asset, long-term 4,244 3,806 -------- -------- Total assets $519,166 $547,135 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $59,103 $48,338 Income tax payable - 8,560 Deferred revenue 32,530 34,861 Notes payable and capital lease obligations 10,123 12,379 Accrued restructuring reserve 1,867 626 Other liabilities 430 110 -------- -------- Total current liabilities 104,053 104,874 Deferred revenue, long-term 11,657 10,304 Notes payable and capital lease obligations, long-term 11,933 11,213 Accrued restructuring reserve, long-term 1,589 1,428 Other liabilities, long-term 3,281 3,493 -------- -------- Total liabilities 132,513 131,312 Total stockholders' equity 386,653 415,823 -------- -------- Total liabilities and stockholders' equity $519,166 $547,135 ======== ========

Photo: http://www.newscom.com/cgi-bin/prnh/20080310/NEUSTARLOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com NeuStar, Inc.

CONTACT: Investor Relations: Brandon Pugh, +1-571-434-5659,
brandon.pugh@neustar.biz; or Media: John Schneidawind, +1-571-434-5596,
john.schneidawind@neustar.biz, both of NeuStar, Inc.

Web Site: http://www.neustar.biz/

Cogo Group, Inc. Reports 2009 First Quarter Results- Q1 Net Revenue: $63.3 million (a year-on-year increase of 5.1%)- Q1 Net Income attributable to Cogo Group, Inc.: $1.6 million GAAP and $4.5 million Non-GAAP- Q1 EPS Diluted attributable to Cogo Group, Inc.: $0.04 GAAP and $0.12 Non-GAAP with a year-on-year decrease of 36.8%- Company provides Q2 guidance of $70-72 million in revenue and Non-GAAP EPS attributable to Cogo Group, Inc. of $0.14-$0.15

SHENZHEN, China, May 6 /PRNewswire-FirstCall/ -- Cogo Group, Inc. , a leading provider of customized design solutions for the technology manufacturing sector in China, today announced unaudited financial results for its first quarter of 2009. The Company reported quarterly revenue of $63.3 million, up 5.1% year-over-year, compared to $60.2 million reported in the first quarter of 2008.

Net income attributable to Cogo Group, Inc. for the first quarter of 2009 was $1.6 million, down 70.6% from $5.3 million in the same period last year, with Non-GAAP net income attributable to Cogo Group, Inc. of $4.5 million, down 40.9% over the same period last year. Earnings per share ("EPS") Diluted attributable to Cogo Group, Inc. on a U.S. GAAP basis was $0.04, and Non-GAAP EPS Diluted attributable to Cogo Group, Inc. (which excludes share-based compensation expense and acquisition related costs including amortization of intangible assets and recognized deferred taxation) was $0.12, down 36.8% from the first quarter of 2008.

Key Financial Indicators (all numbers in USD thousands, except Earnings per share data) Percent Q1 2009(1) Q1 2008(1) Change Net Revenue $63,268 $60,189 5.1% Cost of Sales $54,276 $48,439 12.1% Gross Profit $8,992 $11,750 -23.5% Net Operating Expenses $7,576 $7,052 7.4% Income from Operations $1,416 $4,698 -69.9% Net Income Attributable to Cogo Group, Inc.(2) $1,555 $5,281 -70.6% EPS Diluted Attributable to Cogo Group, Inc. $0.04 $0.13 -69.2% Non-GAAP EPS Diluted attributable to Cogo Group, Inc. $0.12 $0.19 -36.8% (1) The US dollar amounts are calculated based on the conversion rate of USD1 to RMB6.8329 as of March 31, 2009 and USD1 to RMB7.012 as of March 31, 2008. (2) Included in the Q1 2009 net income attributable to Cogo Group, Inc. was an amount of $2.1 million in respect of share-based compensation expense in accordance with Statement of Financial Accounting Standards of No. 123 (revised 2004), Share-Based Payment ("SFAS 123R") and $0.9 million acquisition related costs including amortization of purchased intangible assets and recognized deferred taxation. Non-GAAP net income attributable to Cogo Group, Inc., excluding the effects of share-based compensation expense and acquisition related costs, was $4.5 million or $0.12 Non-GAAP EPS Diluted attributable to Cogo Group, Inc. Included in the Q1 2008 net income was an amount of $1.6 million for share-based compensation expense in accordance with SFAS 123R and $0.8 million acquisition related costs including amortization of purchased intangible assets and recognized deferred taxation. Recent Developments

The Company is currently finalizing the acquisition of Mega Smart, a pioneer in China's developing industrial applications market in the electric grid and "smart meter" segments. Management expects the acquisition to significantly enhance the Company's product offerings and fuel its growth in China's rapidly expanding industrial sector, which is currently benefiting from a large, broad-based government infrastructure stimulus plan. Cogo expects a smooth integration of Mega Smart's sales team once the acquisition is finalized. The newly combined workforce is expected to be able to immediately leverage the company's current customer base, which consists of over 1,200 companies.

Jeffrey Kang, Chairman & Chief Executive Officer, Cogo Group, Inc. said, "We expect this transaction to close in the second quarter of 2009, and we are excited to integrate the Mega Smart team into the Cogo sales platform. We are increasingly convinced that this acquisition will be a very cost effective and efficient way to benefit from the rapidly growing industrial business market within China."

Financial Results

Net revenue for the first quarter was $63.3 million, an increase of 5.1% compared to $60.2 million reported for the first quarter of last year. The net revenue breakdown is as follows: $21.8 million, or 34.5% of total revenue for mobile handsets, representing a 10.7% decrease year-over-year; $16.2 million, or 25.6% of total revenue for telecommunications equipment, representing a 0.8% increase year-over-year; and $17.7 million, or 27.9% of total revenue for digital media products, representing an increase of 1.8% year-over-year. The Company's service business contributed $0.7 million in net revenues for the first quarter and accounted for approximately 1.1% of total net revenue. Also during the quarter, the Company generated $6.9 million in revenue, or 10.9% of total revenue, from component sales relating to industrial business, which includes industrial solutions targeted at the electrical grid and railway sectors.

Cost of sales, which includes the aggregate purchase of components from suppliers and the direct cost of services, was $54.3 million compared to $48.4 million, representing an increase of 12.1% year-over-year. Gross profit for the first quarter was $9.0 million, down 23.5% compared to the $11.8 million during the first quarter of last year. Gross margin for the first quarter decreased to 14.2%, compared to 19.5% reported during the first quarter of 2008, due to the unfavorable product mix reflecting growing demands in the lower gross margin, low-end segment of the handset market.

Selling, general and administrative expenses totaled $5.2 million, down 7.8%, compared to $5.7 million reported for the first quarter of last year. The decrease was attributable to a reduction in the charge of allowance for doubtful accounts and share-based compensation expense of $0.2 million and $0.4 million, respectively. Research and development (R&D) expenses increased by 70.9% to $2.3 million compared to $1.4 million in the first quarter of 2008. The increase was mainly attributable to share-based compensation awards granted during the first quarter of 2009 which increased share-based compensation cost of $0.8 million as compared to the corresponding period in 2008.

Income from operations was $1.4 million, down 69.9% as compared to $4.7 million for the first quarter of 2008. Operating margin for the first quarter was 2.2% versus 7.8% for the first quarter of 2008. Excluding the effects of share-based compensation and acquisition-related costs including amortization of purchased intangible assets, operating margin would have been 7.3% for the first quarter of 2009, compared to 12.0% for the same period in 2008. The effective tax rate for the first quarter of 2009 was 11.3%, compared to 8.2% for the same period in 2008. Included in the income tax expense for the quarter ended March 31, 2009 was a deferred income tax benefit of $0.2 million as a result of the amortization of purchased intangible assets of $1.1 million. Noncontrolling interests' share of income was $0.04 million as compared to $nil during the same period in 2008.

Net income attributable to Cogo Group, Inc. for the first quarter was $1.6 million or EPS Diluted attributable to Cogo Group, Inc. of $0.04 on a U.S. GAAP basis, compared to net income attributable to Cogo Group, Inc. of $5.3 million, or EPS Diluted attributable to Cogo Group, Inc. of $0.13 in the first quarter of 2008. Included in the first quarter 2009 net income attributable to Cogo Group, Inc. was an amount of $2.1 million for share-based compensation expense and $0.9 million for acquisition-related costs including amortization of purchased intangible assets and recognized deferred taxation. Excluding the share-based compensation expense and acquisition-related costs including amortization of purchased intangible assets and recognized deferred taxation, the Company would have reported net income attributable to Cogo Group, Inc. of $4.5 million or $0.12 Non-GAAP EPS Diluted attributable to Cogo Group, Inc. for the first quarter, as compared to $0.19 for the first quarter of 2008. The weighted average number of shares used in the calculation of diluted EPS attributable to Cogo Group, Inc. was 37.2 million compared to 40.0 million in the first quarter of 2008.

Balance Sheet

As of March 31, 2009, the Company completed the quarter with cash of $108.7 million, up slightly from $100.6 million at the fiscal year end 2008, attributable to income generated from operations. Pledged bank deposits were $17.0 million as of March 31, 2009 and December 31, 2008. The Company continues to be in a strong financial position with a current ratio of 6.1 to 1. Inventory turnover was 29 days. Accounts receivable were collected in an average of 93 days. Operating Cash flows was positive at $9.7 million. The Company had no bank borrowings as of March 31, 2009 and December 31, 2008. Total Cogo shareholders' equity was $210.2 million as of March 31, 2009, a slight increase from $205.8 million as of December 31, 2008.

Business Outlook

Based on current visibility and new business in the pipeline, management is providing 2009 Q2 guidance of $70-72 million in revenue and Non-GAAP EPS Diluted attributable to Cogo Group, Inc. of $0.14-0.15.

Mr. Kang remarked, "While we continue to face economic uncertainty, we remain confident that we can continue to benefit from a variety of tailwinds, including the continued build-out of 3G networks in China and the country's overall economic stimulus plan. Cogo continues to generate solid operating cash flow and we are making progress towards our goal of 15% gross margin and 10% operating margins."

Cogo 2009 Q1 Earnings Results Conference Call Date/ Time: May 6, 2009 (Wednesday) @ 4:30 PM (ET) Conference Call: US/ Canada Toll-Free: 1-877-941-6009 International: +1 (480) 629 9770 Webcast/ Audio Recording: http://viavid.net/dce.aspx?sid=00006292. Replay: US/ Canada Toll-Free: 1-800-406-7325 (Passcode: 4060212) International: +1 (303) 590 3030 (Passcode: 4060212) About Cogo Group, Inc.:

Cogo Group, Inc. is a leading provider of customized module and subsystem design solutions in China. The Company believes it acts as a proxy to China's technology industry as it works with virtually all the major ODMs and OEMs in China. Cogo leverages these relationships and combines their IP to create designs that Cogo then sells to electronic manufacturers. These designs allow manufacturers to reduce their time to market for new products and ultimately increase sales. Cogo focuses on the mobile handset, telecommunications equipment, digital media and industrial applications end-markets for their customized design modules while also offering business and engineering services to their large telecommunications equipment vendor customers. Over the last twelve years, Cogo has grown its customer list to include more than 1,200 manufacturers across the mobile handset, telecommunications equipment, industrial and consumer markets, covering both multinational Chinese subsidiaries and Chinese domestic companies.

Safe Harbor Statement:

This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include statements about our proposed discussions related to our business or growth strategy such as growth in digital media, mobile handset and telecommunications businesses, as well as our potential acquisitions which are subject to change. Such information is based upon expectations of our management that were reasonable when made, but may prove to be incorrect. All such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. For further descriptions of other risks and uncertainties, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings, including our most recent Forms S-1 and/or S-3. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov/.

About Non-GAAP Financial Measures:

To supplement Cogo's consolidated financial results presented in accordance with GAAP, Cogo uses the following measures defined as Non-GAAP financial measures by the SEC: 1) Non-GAAP net income attributable to Cogo Group, Inc., which is net income attributable to Cogo Group, Inc. excluding share-based compensation expenses and acquisition related costs such as amortization and impairment of purchased intangible assets, in-process research and development, recognized deferred taxation and impairment of goodwill, 2) Non-GAAP basic and diluted earnings per share attributable to Cogo Group, Inc., which is basic and diluted earnings per share attributable to Cogo Group, Inc. excluding share-based compensation expenses and acquisition related costs such as amortization and impairment of purchased intangible assets, in-process research and development, recognized deferred taxation and impairment of goodwill, 3) Non-GAAP operating margin, which is operating margin excluding share-based compensation expenses and acquisition related costs such as amortization of purchased intangible assets, and 4) Non-GAAP income from operation, which is income from operation excluding share-based compensation expenses and acquisition related costs such as amortization of purchased intangible assets. The presentation of these Non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these Non-GAAP financial measures, please see the table captioned "Unaudited Reconciliation of Non-GAAP measures to the most comparable GAAP measures" set forth at the end of this release.

Cogo believes that these Non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based compensation expenses and acquisition related costs such as amortization and impairment of purchased intangible assets that may not be indicative of its operating performance from a cash perspective. Cogo believes that both management and investors benefit from referring to these Non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These Non-GAAP financial measures also facilitate management's internal comparisons to Cogo's historical performance and liquidity. Cogo computes its Non-GAAP financial measures using the same consistent method from quarter to quarter. Cogo believes these Non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using Non-GAAP net income attributable to Cogo Group, Inc., Non-GAAP basic and diluted earnings per share attributable to Cogo Group, Inc., Non-GAAP income from operations and Non-GAAP operating margin is that these Non-GAAP measures exclude share-based compensation expenses and acquisition related costs such as amortization and impairment of purchased intangible assets, in-process research and development, recognized deferred taxation and impairment of goodwill that have been and will continue to be for the foreseeable future a recurring expense in our business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each Non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to Non-GAAP financial measures.

Tables Attached COGO GROUP, INC. and SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME Three Months ended March 31, ---------------------------- 2009 2009 2008 ---- ---- ---- USD'000 RMB'000 RMB'000 Net Revenue Product sales 62,566 427,505 408,835 Services revenue 702 4,797 13,210 --- ----- ------ 63,268 432,302 422,045 Cost of sales Cost of goods sold (53,697) (366,908) (331,842) Cost of services (579) (3,954) (7,814) ----- ------- ------- (54,276) 370,862 (339,656) -------- ------- --------- Gross profit 8,992 61,440 82,389 Selling, general and administrative expenses (5,233) (35,757) (39,778) Research and development expenses (2,348) (16,044) (9,633) Other operating income (expense) 5 33 (38) - -- ---- Income from operations 1,416 9,672 32,940 Interest expense (5) (31) (240) Interest income 381 2,603 7,618 --- ----- ----- Earnings before income taxes 1,792 12,244 40,318 Income tax expense (201) (1,377) (3,291) ----- ------- ------- Net income 1,591 10,867 37,027 Less net income attributable to noncontrolling interest (36) (243) - ---- ----- - Net income attributable to Cogo Group, Inc. 1,555 10,624 37,027 ===== ====== ====== USD RMB RMB Earnings per share attributable to Cogo Group, Inc. Basic 0.04 0.30 0.95 ==== ==== ==== Diluted 0.04 0.29 0.93 ==== ==== ==== Weighted average number of common shares outstanding Basic 35,929,788 39,056,811 ========== ========== Diluted 37,264,100 39,961,321 ========== ========== COGO GROUP, INC. and SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2009 2009 2008 USD'000 RMB'000 RMB'000 Assets Current assets: Cash 108,656 742,438 686,379 Pledged bank deposits 17,000 116,159 115,983 Accounts receivable, net 65,277 446,033 497,992 Bills receivable 1,532 10,466 13,555 Inventories 17,284 118,101 95,855 Prepaid expenses and other receivables 2,646 18,080 20,211 ----- ------ ------ Total current assets 212,395 1,451,277 1,429,975 Property and equipment, net 2,483 16,967 17,993 Goodwill and intangible assets, less accumulated amortization, RMB50,112 (USD7,334) in 2009 and RMB42,819 in 2008 33,652 229,941 237,234 Other assets 236 1,608 1,608 --- ----- ----- Total Assets 248,766 1,699,793 1,686,810 ======= ========= ========= Liabilities and stockholders' equity Current liabilities: Accounts payable 15,697 107,255 107,512 Income taxes payable 1,498 10,238 8,225 Accrued expenses and other liabilities 17,804 121,651 141,925 ------ ------- ------- Total current liabilities 34,999 239,144 257,662 Deferred tax liabilities 2,714 18,544 19,693 ----- ------ ------ Total liabilities 37,713 257,688 277,355 Stockholders' equity Common stock Par value: USD 0.01 Authorized: 200,000,000 shares Issued: 39,637,398 shares Outstanding: 35,692,987 shares in 2009 35,231,661 shares in 2008 472 3,228 3,196 Additional paid in capital 170,918 1,167,867 1,146,840 Retained earnings 78,278 534,864 524,240 Accumulated other comprehensive loss (15,649) (106,929) (107,645) -------- --------- --------- 234,019 1,599,030 1,566,631 Less: cost of common stock in treasury, 3,944,411 shares in 2009 and 2008 (23,809) (162,687) (162,687) -------- --------- --------- Total Cogo Group, Inc. stockholders' equity 210,210 1,436,343 1,403,944 Noncontrolling interest 843 5,762 5,511 --- ----- ----- Total stockholders' equity 211,053 1,442,105 1,409,455 ------- --------- --------- Total liabilities and stockholders' equity 248,766 1,699,793 1,686,810 ======= ========= ========= COGO GROUP, INC. and SUBSIDIARIES UNAUDITED RECONCILIATION OF NON-GAAP MEASURES TO THE MOST COMPARABLE GAAP MEASURES Three Months ended March 31, 2009 2008 $'000 $'000 Net Income GAAP net income attributable to Cogo Group, Inc. 1,555 5,281 Share-based compensation expense 2,082 1,617 Acquisition related costs - amortization of purchased intangible assets and recognized deferred taxation 899 775 --- --- Non-GAAP net income attributable to Cogo Group, Inc. 4,536 7,673 Income from operation GAAP income from operations 1,416 4,698 Share-based compensation expense 2,082 1,617 Acquisition related costs - amortization of purchased intangible 1,067 920 assets Non-GAAP income from operation 4,565 7,235 ===== ===== Operating Margin GAAP operating margin 2.2% 7.8% Non-GAAP operating margin 7.2% 12.0% Earnings per share $ $ GAAP net income attributable to Cogo Group, Inc. per common share- Basic 0.04 0.14 ==== ==== GAAP net income attributable to Cogo Group, Inc. per common share- Diluted 0.04 0.13 ==== ==== Non-GAAP net income attributable to Cogo Group, Inc. per common share- Basic 0.13 0.20 ==== ==== Non-GAAP net income attributable to Cogo Group, Inc. per common share- Diluted 0.12 0.19 ==== ==== Weighted average number of common shares outstanding Basic 35,929,788 39,056,811 ========== ========== Diluted 37,264,100 39,961,321 ========== ==========

Cogo Group, Inc.

CONTACT: Investor Relations of Cogo Group, Inc., HK, +852 2730 1518, US,
+1-646-291-8998, communications@cogo.com.cn

Web Site: http://www.comtech.com.cn/investorinfo.html

Limelight Networks(TM) Reports First Quarter 2009 Results- Revenue of $33.2 million, a 10% increase from first quarter 2008- Reversal of $66 million accrual due to favorable ruling from Federal District Court of Massachusetts- Launch of LimelightSITE(TM) with over 150 customers, entry into enterprise and e-commerce sectors- Addition of approximately 35 net new customers

TEMPE, Ariz., May 6 /PRNewswire-FirstCall/ -- Limelight Networks, Inc. today reported first quarter 2009 financial results.

"Limelight Networks achieved solid year-over-year revenue growth during the first quarter. We continued to see strong demand for our core content delivery and storage services, and were pleased with the market reception for LimelightSITE and a favorable ruling in our patent litigation with Akamai. We believe that continued Internet adoption presents us with attractive growth opportunities and that our eight years of innovation, our global scale and our network-based architecture are the optimal solution for publishers, enterprises, and governments advancing their online presence," commented Jeff Lunsford, chairman and chief executive officer, Limelight Networks, Inc.

Financial Highlights

For the first quarter of 2009, the company reported revenue of $33.2 million, up 10% percent from $30.2 million in the same period last year, and EBITDA, adjusted for share-based compensation, litigation and the reversal of a previously recorded damage accrual, of $4.7 million.

Non-GAAP net loss, before stock based compensation, litigation costs, and reversal of a previously recorded damage accrual, was $2.1 million or 2 cents per basic share. GAAP net earnings were $55.1 million, or 66 cents per basic share and 64 cents on a fully-diluted basis. These earnings include the reversal of a previously recorded damage accrual of $66 million as a result of the Massachusetts Federal District Court order finding that we do not infringe the Akamai 703 patent.

Capital purchases incurred were $4.6 million. The Company ended the quarter with no bank debt and approximately $162 million in cash and short-term marketable securities. A reconciliation of GAAP to non-GAAP net income is included in the attached tables.

Second-Quarter Outlook

Limelight Networks anticipates second quarter revenue to be in the range of $32.2 million to $33.2 million.

Financial Tables LIMELIGHT NETWORKS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) March 31, December 31, 2009 2008 ---- ---- (Unaudited) ASSETS Current Assets: Cash and cash equivalents $146,791 $138,180 Marketable securities 15,197 36,463 Accounts receivable, net of reserves of $8,585 and $7,565 at March 31, 2009 and December 31, 2008, respectively 34,238 33,482 Income taxes receivable 164 7 Prepaid expenses and other current assets 8,427 7,834 ----- ----- Total current assets 204,817 215,966 Property and equipment, net 37,721 40,185 Marketable securities, less current portion 8 13 Other assets 4,939 628 ----- --- Total assets $247,485 $256,792 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $11,770 $8,920 Deferred revenue, current portion 10,328 9,865 Provision for litigation - 65,645 Other current liabilities 9,785 14,928 ----- ------ Total current liabilities 31,883 99,358 Deferred revenue, less current portion 6,018 7,303 ----- ----- Total liabilities 37,901 106,661 Commitments and contingencies - - Stockholders' equity: Convertible preferred stock, $0.001 par value; 7,500 shares authorized; 0 shares issued and outstanding - - Common stock, $0.001 par value; 150,000 shares authorized; 83,792 and 83,405 shares issued and outstanding at March 31, 2009 and December 31, 2008, respectively 84 83 Additional paid-in capital 295,155 290,593 Accumulated other comprehensive income 15 260 Accumulated deficit (85,670) (140,805) ------- -------- Total stockholders' equity 209,584 150,131 ------- ------- Total liabilities and stockholders' equity $247,485 $256,792 ======== ======== LIMELIGHT NETWORKS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three Months Ended ------------------ March December March December 31, 31, 31, 31, 2009 2008 2008 2007 ---- ---- ---- ---- Revenue $33,175 $35,898 $30,202 $29,132 Costs and operating expenses Cost of revenue * + 21,471 21,881 20,672 18,435 General and administrative * + 12,444 15,550 13,329 7,961 Sales and marketing * 8,139 9,231 8,142 8,619 Research & development * 1,910 2,072 1,590 1,385 Provision for litigation (65,645) 1,295 7,134 48,130 ------- ----- ----- ------ Total costs and operating expenses (21,681) 50,029 50,867 84,530 Operating income (loss) 54,856 (14,131) (20,665) (55,398) Interest expense (11) (11) (21) (6) Interest income 383 669 1,891 2,035 Other income (expense) 227 (375) 170 (177) --- ---- --- ---- Income (loss) before taxes 55,455 (13,848) (18,625) (53,546) Income tax expense (benefit) 320 94 (183) 1,799 --- --- ---- ----- Net income (loss) $55,135 $(13,942) $(18,442) $(55,345) ======= ======== ======== ======== Net income (loss) per share: Basic $0.66 $(0.17) $(0.22) $(0.67) Diluted $0.64 $(0.17) $(0.22) $(0.67) Shares used in per share calculations: Basic 83,515 83,192 82,623 82,140 Diluted 85,968 83,192 82,623 82,140 * Includes share-based compensation (see supplemental table for figures) + Includes depreciation (see supplemental table for figures) LIMELIGHT NETWORKS, INC. SUPPLEMENTAL FINANCIAL DATA (In thousands) (Unaudited) Three Months Ended ------------------ March December March December 31, 31, 31, 31, 2009 2008 2008 2007 ---- ---- ---- ---- Supplemental financial data (in thousands): Share-based compensation: Cost of revenues $551 $585 $507 $479 General and administrative 2,131 3,028 1,665 1,454 Sales and marketing 1,189 1,262 1,306 1,272 Research and development 616 633 482 420 --- --- --- --- Total share-based compensation $4,487 $5,508 $3,960 $3,625 ====== ====== ====== ====== Depreciation and amortization: Network-related depreciation $6,548 $6,862 $6,013 $5,429 Other depreciation 540 455 247 278 --- --- --- --- Total depreciation and amortization $7,088 $7,317 $6,260 $5,707 ====== ====== ====== ====== Capital expenditures: Capital expenditures (cash and accrual) $4,572 $5,151 $3,095 $5,136 ====== ====== ====== ====== Net (decrease) increase in cash, cash equivalents and marketable securities $(12,660) $(2,015) $(2,475) $3,032 ======== ======= ======= ====== End of period statistics: Approximate number of active customers 1,365 1,336 1,232 1,157 Number of employees 296 294 244 237 LIMELIGHT NETWORKS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Three Months Ended ------------------ March December March December 31, 31, 31, 31, 2009 2008 2008 2007 ---- ---- ---- ---- Cash flows from operating activities: Net income (loss) $55,135 $(13,942) $(18,442) $(55,345) Adjustments to reconcile net loss to net cash (used in) provided by operating activities: Depreciation and amortization 7,088 7,317 6,260 5,707 Share-based compensation 4,487 5,508 3,960 3,625 Deferred income tax (benefit) expense - (9) (234) 33 Excess tax benefit related to stock option exercises - 177 - (1,596) Provision for litigation (65,645) 1,295 7,134 48,130 (Income) loss on foreign currency exchange (31) (149) - 42 Accounts receivable charges 3,288 3,961 1,562 2,268 Accretion of debt discount - - - - Accretion of marketable securities - (6) (453) (530) Loss on marketable securities - - 55 387 Changes in operating assets and liabilities: Accounts receivable (3,840) (6,169) (2,271) (5,243) Prepaid expenses and other current assets (593) 1,695 87 1,037 Income taxes receivable (157) 1,480 594 2,742 Other assets (4,311) 32 564 11 Accounts payable (1,223) (531) (4,634) 3,613 Accounts payable, related parties - - (80) 230 Deferred revenue (822) 416 301 135 Other current liabilities (5,144) 718 5,035 (4,449) Other long term liabilities - (770) 1 740 --- ---- --- --- Net cash (used in) provided by operating activities (11,768) 1,023 (561) 1,537 ------- ----- ---- ----- Cash flows from investing activities: Purchases of property and equipment (754) (3,537) (2,435) (2,081) Purchase of marketable securities - - (34,725) 20,300 Sale of marketable securities 21,300 17,125 44,200 (37,569) Net cash provided by (used in) investing activities 20,546 13,588 7,040 (19,350) ------ ------ ----- ------- Cash flows from financing activities: Escrow funds returned from share repurchase - - - 1,190 Tax benefits from share- based compensation - (177) - - Excess tax benefit related to stock option exercises - - - 1,573 Proceeds from exercise of stock options and warrants 76 34 107 175 Proceeds from initial public offering, net of issuance costs - - - (47) --- --- --- --- Net cash provided by (used in) financing activities 76 (143) 107 2,891 --- ---- --- ----- Effect of exchange rate changes on cash and cash equivalents (243) 566 (156) (4) ---- --- ---- --- Net increase (decrease) in cash and cash equivalents 8,611 15,034 6,430 (14,926) Cash and cash equivalents, beginning of period 138,180 123,146 113,824 128,750 ------- ------- ------- ------- Cash and cash equivalents, end of period $146,791 $138,180 $120,254 $113,824 ======== ======== ======== ======== Use of Non-GAAP Financial Measures

To evaluate our business, we consider and use Non-GAAP net income and EBITDA adjusted for share-based compensation and litigation and damage costs as a supplemental measure of operating performance. We consider Non-GAAP net income to be an important indicator of overall business performance because it allows us to illustrate the impact of the effects of share-based compensation, litigation expenses and provision for litigation. We define EBITDA as GAAP net income before interest income, interest expense, other income and expense, provision for income taxes, depreciation and amortization. We define EBITDA adjusted for share-based compensation and litigation and damage costs as EBITDA plus expenses that we do not consider reflective of our ongoing operations. We use EBITDA adjusted for share-based compensation and litigation and damage costs as a supplemental measure to review and assess operating performance. We also believe use of EBITDA adjusted for share-based compensation and litigation and damage costs facilitates investors' use of operating performance comparisons from period to period.

The terms Non-GAAP net income, EBITDA and EBITDA adjusted for share-based compensation and litigation and damage costs are not defined under U.S. generally accepted accounting principles, or U.S. GAAP, and are not measures of operating income, operating performance or liquidity presented in accordance with U.S. GAAP. Our Non-GAAP net income, EBITDA and EBITDA adjusted for share-based compensation and litigation and damage costs have limitations as analytical tools, and when assessing our operating performance, Non-GAAP net income, EBITDA and EBITDA adjusted for share-based compensation and litigation and damage costs should not be considered in isolation, or as a substitute for net income (loss) or other consolidated income statement data prepared in accordance with U.S. GAAP. Some of these limitations include, but are not limited to:

-- EBITDA and EBITDA adjusted for share-based compensation and litigation and damage costs do not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments; -- they do not reflect changes in, or cash requirements for, our working capital needs; -- they do not reflect the cash requirements necessary for litigation costs; -- they do not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on our debt; -- they do not reflect income taxes or the cash requirements for any tax payments; -- although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will be replaced sometime in the future, and EBITDA and EBITDA adjusted for share-based compensation and litigation and damage costs do not reflect any cash requirements for such replacements; -- while share-based compensation is a component of operating expense, the impact on our financial statements compared to other companies can vary significantly due to such factors as the assumed life of the options and the assumed volatility of our common stock; and -- other companies may calculate EBITDA and EBITDA adjusted for share-based compensation and litigation and damage costs differently than we do, limiting their usefulness as comparative measures.

We compensate for these limitations by relying primarily on our GAAP results and using Non-GAAP Net Income and EBITDA adjusted for share-based compensation and litigation and damage costs only as supplemental support for management's analysis of business performance. Non-GAAP Net Income, EBITDA and EBITDA adjusted for share-based compensation and litigation and damage costs are calculated as follows for the periods presented in thousands:

Reconciliation of Non-GAAP Financial Measures

In accordance with the requirements of Regulation G issued by the Securities and Exchange Commission, the Company is presenting the most directly comparable GAAP financial measures and reconciling the non-GAAP financial metrics to the comparable GAAP measures

LIMELIGHT NETWORKS, INC. Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income (Loss) (In thousands) (Unaudited) Three Months Ended ------------------ March December March December 31, 31, 31, 31, 2009 2008 2008 2007 ---- ---- ---- ---- GAAP net income (loss) $55,135 $(13,942) $(18,442) $(55,345) Deferred revenue - - - 729 Deferred cost of traffic and services - - - 21 Provision for litigation (65,645) 1,295 7,134 48,130 Share-based compensation 4,487 5,508 3,960 3,625 Litigation defense expenses 3,945 4,576 5,366 2,772 ----- ----- ----- ----- Non-GAAP net loss $(2,078) $(2,563) $(1,982) $(68) ======= ======= ======= ==== LIMELIGHT NETWORKS, INC. Reconciliation of GAAP Net Income (Loss) to EBITDA to EBITDA Adjusted for Share-Based Compensation and Litigation and Damage Costs (In thousands) (Unaudited) Three Months Ended ------------------ March December March December 31, 31, 31, 31, 2009 2008 2008 2007 ---- ---- ---- ---- GAAP net income (loss) $55,135 $(13,942) $(18,442) $(55,345) Add: depreciation and amortization 7,088 7,317 6,260 5,707 Add: interest expense 11 11 21 6 Less: interest and other income (610) (294) (2,062) (1,858) Plus income tax (benefit) expense 320 94 (183) 1,799 --- --- ---- ----- EBITDA 61,944 (6,814) (14,406) (49,691) Add: provision for litigation (65,645) 1,295 7,134 48,130 Add: share-based compensation 4,487 5,508 3,960 3,625 Add: litigation defense expenses 3,945 4,576 5,366 2,772 ----- ----- ----- ----- EBITDA adjusted for share-based compensation, litigation and damage costs $4,731 $4,565 $2,054 $4,836 ====== ====== ====== ====== Conference Call

Management will host a quarterly conference call for investors today beginning at 4:30 p.m. EDT (1:30 p.m. PDT). This call can be accessed toll-free at 1-866-362-4832 within the United States or 1-617.597.5364 outside of the U.S. using Participant Passcode 68176220. The conference call will also be audiocast live from http://www.llnw.com/ and a replay will be available following the call from the Company's website.

Safe-Harbor Statement

This press release contains forward-looking statements concerning, among other things, the outlook for the Company's revenues, net loss and stock-based compensation expense for the first quarter of 2009, customer growth, market growth, pricing pressures, expansion into additional market segments, product and services improvements and litigation and related expenses. Forward-looking statements are not guarantees and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, risks and uncertainties discussed in the Company's Annual Report on Form 10K and other filings with the Securities and Exchange Commission and the final review of the results and amendments and preparation of quarterly financial statements, including consultation with our outside auditors. Accordingly, readers are cautioned not to place undue reliance on any forward-looking statements. The Company assumes no duty or obligation to update or revise any forward-looking statements for any reason.

About Limelight Networks, Inc.

Limelight Networks, Inc. is trusted by the world's most innovative enterprise, entertainment, technology, and software brands to improve the performance and profitability of web sites and end-user experiences. Our scalable, on-demand managed infrastructure solutions provide global reach and consistently high availability, by routing traffic over a private fiber-optic backbone rather than through the often-congested, unpredictable public Internet. For more information, visit our web site (http://www.limelightnetworks.com/), read our blog (http://blog.llnw.com/), or follow @llnw on Twitter.

Copyright (C) 2009 Limelight Networks, Inc. All rights reserved. All product or service names are the property of their respective owners

Limelight Networks, Inc.

CONTACT: Paul Alfieri of Limelight Networks, Inc., +1-917-297-4241,
palfieri@llnw.com

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

Blackboard Inc. Reports First Quarter Revenue of $86.4 Million- Company Announces Acquisition of ANGEL Learning, Inc. -

WASHINGTON, May 6 /PRNewswire-FirstCall/ -- Blackboard Inc. today announced financial results for the first quarter ended March 31, 2009 and updated guidance for the second quarter and the full year of 2009.

Total revenue for the quarter ended March 31, 2009 was $86.4 million, an increase of 26 percent over the first quarter of 2008. Product revenues for the quarter were $80.1 million, an increase of 27 percent over the first quarter of 2008, while professional services revenues for the quarter were $6.3 million, an increase of 18 percent over the first quarter of 2008.

GAAP net loss was $37,000, resulting in a net loss per basic and diluted share of ($0.00) for the first quarter of 2009 compared to a net loss of $4.4 million or a net loss per basic and diluted share of ($0.15) per share for the first quarter of 2008. Non-GAAP adjusted net income for the first quarter of 2009, which excludes the amortization of acquisition-related intangible assets, stock-based compensation, and non-cash interest expense, all net of taxes, was $8.6 million, resulting in non-GAAP adjusted net income per diluted share of $0.27 compared to non-GAAP adjusted net income of $4.1 million or $0.13 per diluted share for the first quarter of 2008. Our 2008 results have been adjusted to reflect the adoption of FSP APB 14-1 related to our outstanding convertible debt.

"I am pleased with our strong financial results in the first quarter which highlight the strength of our business model, our high annual renewal rate and our ability to effectively manage our expenses," said Michael Chasen, chief executive officer and president for Blackboard. "While demand for our products and services in some areas has been impacted by the challenging economic environment the past few quarters, we continue to see solid growth in many of our core markets and are managing our business well to capture the significant market opportunity we see in front of us."

Highlights from the First Quarter of 2009 -- Blackboard's new and expanding client relationships in the quarter included: -- U.S. Higher Education Market: Brunswick Community College, Chapman University College, Claremont University, Cuyahoga Community College, DeSales University, Mid-Plains College, Montgomery College, Owens Community College, Santa Clara University, Sierra College, University of Pittsburgh, University of Southern Mississippi, Webster University and others. -- International Markets: Amersham and Wycombe College, Bournemouth University, Instituto Nacional de Salud Publica, Interamerican University of Puerto Rico, Middlesborough College, National College of Puerto Rico, Queen Mary University of London, Rikkyo University, Servicio Nacional de Aprendizaje (SENA), Universidad Autonoma de Baja California, Universidad Catolica de Santiago de Guayaquil, Universidade Catolic Portugesa, University of Manchester, Utrecht University, York University and others. -- K-12 Market: Christa McAuliffe Academy, Clear Creek Independent School District, Cleveland County Schools, Florida State University Schools, Midlothian Independent School District, Pennsylvania Cyber Charter School, Phillips Academy Andover, Rochester Public Schools, Sacramento City Unified School District, Shelby County School District, Sweetwater Union High School District, Walnut Valley Unified School District and others. -- Blackboard's enterprise licenses (Blackboard Learning System(TM) - Enterprise, Blackboard Community System(TM), Blackboard Transaction System(TM), Blackboard Content System(TM), Blackboard Connect (TM) and Blackboard Outcomes System(TM)), totaled 6,836 as of March 31, 2009. -- The Company announced the availability of Release 9.0 of the Blackboard Learn(TM) platform (formerly the Blackboard Academic Suite(TM)). The release introduces a range of powerful capabilities, from social learning tools to Web 2.0 innovations, as well as integrated components that enable institutions to achieve more meaningful assessments of individuals, groups, programs and schools. Blackboard to Acquire ANGEL Learning, Inc.

In a separate announcement today, Blackboard announced its planned acquisition of ANGEL Learning, a leading provider of e-learning applications to educational institutions.

Under terms of the agreement, Blackboard will acquire ANGEL Learning for approximately $95 million, net of cash acquired and excluding transaction costs. The approximate purchase price will be $80 million in cash and $15 million in common stock. The transaction is expected to close in May 2009. Blackboard expects this transaction to be accretive on a pro forma non-GAAP basis for calendar year 2009, excluding the write-off of deferred revenues in purchase accounting and non-recurring merger and integration costs.

Outlook for the Second Quarter and Full Year of 2009

Blackboard's financial guidance for the second quarter and full year 2009 reflects the inclusion of ANGEL Learning, based on an anticipated acquisition close in May 2009. Blackboard expects ANGEL Learning to contribute approximately $0.5 million and $7 million in GAAP revenue for the second quarter of 2009 and full year 2009, respectively.

As an adjustment to deferred revenue in purchase accounting, Blackboard expects that there will be a deferred revenue write-down of approximately $6.0 million over the next 12 months. The deferred revenue write-down is expected to be approximately $2.0 million in the second quarter of 2009 and approximately $5.0 million for the full year 2009. Blackboard currently expects the transaction to be dilutive for full year 2009 on a GAAP basis by approximately $0.28 per diluted share and on an adjusted non-GAAP basis by approximately $0.14 per diluted share.

Second Quarter of 2009: -- Revenue of $87.5 to $90.5 million; -- Stock-based compensation expense of approximately $4.3 million; -- Amortization of acquired intangibles of approximately $8.0 million; -- GAAP net loss of ($1.9) million to breakeven, -- GAAP net loss per basic share of ($0.06) to GAAP net income per diluted share of $0.00, which is based on an estimated 32.0 million basic shares and 32.5 million diluted shares, respectively, and an estimated effective tax rate of approximately 38.5 percent; -- Non-GAAP adjusted net income of $6.5 to $8.4 million, which excludes the amortization of acquisition-related intangible assets, stock-based compensation, and non-cash interest expense, all net of taxes; and -- Non-GAAP adjusted net income per diluted share of $0.20 to $0.26 based on an estimated 32.5 million diluted shares and an estimated effective tax rate of approximately 38.5 percent. Full Year 2009: -- Revenue of $365.5 to $374.5 million; -- Stock-based compensation expense of approximately $16.6 million; -- Amortization of acquired intangibles of approximately $35.5 million; -- GAAP net income of $3.9 to $9.4 million, -- GAAP net income per diluted share of $0.12 to $0.29, which is based on an estimated 32.7 million diluted shares; and an estimated effective tax rate of approximately 38.5 percent; -- Non-GAAP adjusted net income of $39.6 to $45.1 million, which excludes the amortization of acquisition-related stock-based compensation, and non-cash interest expense stock-based compensation, and certain defined non-cash items, all net of taxes; -- Non-GAAP adjusted net income per diluted share of $1.21 to $1.38 based on an estimated 32.7 million diluted shares and an estimated effective tax rate of approximately 38.5 percent; -- Cash flow from operations of $85.0 to $95.0 million; and -- Capital expenditures of approximately 5 to 6 percent of total revenue. Conference Call

Blackboard will broadcast its first quarter conference call live over the Internet today beginning at 4:30 p.m. (Eastern). Interested parties can access the webcast through the Investor Relations section of the Company's Web site at http://investor.blackboard.com/. Please access the Web site at least 15 minutes prior to the start of the call to register, download and install any necessary software.

A replay of the call will be available via telephone from approximately 7:00 p.m. Eastern (4:00 p.m. Pacific) on May 6, 2009 until 11:00 p.m. Eastern (8:00 p.m. Pacific) on May 13, 2009. To listen to the replay, participants in the U.S. and Canada should dial 888-286-8010, and international participants should dial +1 (617) 801-6888. The conference ID for the replay is 58094377.

BLACKBOARD INC. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share amounts) Three Months Ended March 31 -------- 2008 2009 ---- ---- Revenues: Product $63,109 $80,126 Professional services 5,366 6,322 ----- ----- Total revenues 68,475 86,448 Operating expenses: Cost of product revenues, excludes $4,078 and $3,638 for the three months ended March 31, 2008 and 2009, respectively, in amortization of acquired technology included in amortization of intangibles resulting from acquisitions shown below (1) 15,970 21,444 Cost of professional services revenues (1) 4,948 4,767 Research and development (1) 9,733 10,827 Sales and marketing (1) 20,859 23,941 General and administrative (1) 12,753 13,602 Amortization of intangibles resulting from acquisitions 8,679 8,585 ----- ----- Total operating expenses 72,942 83,166 ------ ------ (Loss) income from operations (4,467) 3,282 Other (expense) income: Interest expense (2) (2,981) (2,891) Interest income 890 107 Other (expense) income 310 (558) --- ---- Loss before benefit for income taxes (2) (6,248) (60) Benefit for income taxes 1,804 23 ----- -- Net loss (2) $(4,444) $(37) ======= ==== Net loss per common share: (2) Basic $(0.15) $(0.00) ====== ====== Diluted $(0.15) $(0.00) ====== ====== Weighted average number of common shares: Basic 30,247,568 31,503,578 ========== ========== Diluted 30,247,568 31,503,578 ========== ========== (1) Includes the following amounts related to stock-based compensation: Cost of product revenues $176 $270 Cost of professional services revenues 163 90 Research and development 162 227 Sales and marketing 1,416 1,582 General and administrative 1,763 1,818 (2) Blackboard adopted FASB Staff Position No. APB 14-1, "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" ("FSP APB 14-1") effective January 1, 2009, which required restatement of prior periods, as applicable. The three months ended March 31, 2008 have been adjusted to reflect additional amortization of debt discount of $1,151. Interest expense, Loss before benefit for income taxes, Net loss, and Net loss per common share - Basic and Diluted have been adjusted accordingly and were previously reported as $(1,830), $(5,097), $(3,293), and $(0.11), respectively, for the three months ended March 31, 2008. Reconciliation of GAAP Net loss before benefit for income taxes to Non-GAAP adjusted net income (3): GAAP Net loss before benefit for income taxes $(6,248) $(60) Add: Amortization of intangibles resulting from acquisitions 8,679 8,585 Add: Stock-based compensation 3,680 3,987 Add: Non-cash interest expense 1,595 1,555 Adjusted provision for income taxes (4) (3,520) (5,462) ------ ------ Non-GAAP adjusted net income (5) $4,186 $8,605 ====== ====== Non-GAAP adjusted net income per common share - diluted (5) $0.13 $0.27 ===== ===== Weighted average number of diluted common shares 31,045,797 32,019,009 ========== ========== (3) Non-GAAP adjusted net income and non-GAAP adjusted net income per share are non-GAAP financial measures and have no standardized measurement prescribed by GAAP. Management believes that both measures provide additional useful information to investors regarding the Company's ongoing financial condition and results of operations and since the Company has historically reported these non-GAAP results they provide an additional basis for comparisons to prior periods. The non-GAAP financial measures may not be comparable with similar non-GAAP financial measures used by other companies and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. The Company provides the above reconciliation to the most directly comparable GAAP financial measure to allow investors to appropriately consider each non-GAAP financial measure. (4) Adjusted provision for income taxes is applied at an effective rate of approximately 45.7% and 38.8% for the three months ended March 31, 2008 and 2009, respectively. (5) Beginning in fiscal 2009, the Company changed the definition it utilizes for non-GAAP adjusted net income. For the 2008 period presented in the reconciliation of GAAP Net loss before benefit for income taxes to non-GAAP adjusted net income, the new definition for non-GAAP adjusted net income is being used which excludes the amortization of intangibles resulting from acquisitions, stock-based compensation, and non-cash interest expense, all net of taxes. BLACKBOARD INC. CONDENSED CONSOLIDATED BALANCE SHEETS December 31, March 31, 2008 2009 ---- ---- (unaudited) (in thousands, except per share amounts) ASSETS Current assets: Cash and cash equivalents $141,746 $136,164 Short-term investments - 6,586 Accounts receivable, net 92,529 56,455 Inventories 1,783 1,961 Prepaid expenses and other current assets (6) 8,361 11,382 Deferred tax asset, current portion 1,796 2,055 Deferred cost of revenues 7,126 5,927 ----- ----- Total current assets 253,341 220,530 Deferred tax asset, noncurrent portion (6) 18,897 20,494 Investment in common stock warrant 1,990 1,990 Restricted cash 4,249 4,169 Property and equipment, net 31,950 32,678 Other assets 549 1,241 Goodwill and intangible assets, net 338,976 328,689 ------- ------- Total assets $649,952 $609,791 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $2,579 $2,652 Accrued expenses 27,879 19,201 Deferred rent, current portion 345 88 Deferred revenues, current portion 179,238 139,868 ------- ------- Total current liabilities 210,041 161,809 Notes payable, net of debt discount (6) 149,923 151,478 Deferred rent, noncurrent portion 10,959 11,874 Deferred revenues, noncurrent portion 5,554 5,340 Stockholders' equity: Common stock, $0.01 par value 314 316 Additional paid-in capital (6) 356,683 362,533 Accumulated deficit (6) (83,522) (83,559) ------- ------- Total stockholders' equity 273,475 279,290 ------- ------- Total liabilities and stockholders' equity $649,952 $609,791 ======== ======== (6) As noted in footnote (2) above, FSP APB 14-1 required restatement of prior periods. Prepaid expenses and other current assets, Deferred tax assets, Notes payable, Additional paid-in capital, and Accumulated deficit have been adjusted accordingly and were previously reported as $8,518, $27,146, $163,172, $344,698, and $(76,380), respectively, as of December 31, 2008. BLACKBOARD INC. UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS Three Months Ended March 31 -------- 2008 2009 ---- ---- (in thousands) Cash flows from operating activities Net loss (7) $(4,444) $(37) Adjustments to reconcile net loss to net cash (used in) provided by operating activities: Deferred income tax benefit (1,671) (1,856) Excess tax benefits from stock-based compensation (563) (182) Amortization of debt discount (7) 1,595 1,555 Depreciation and amortization 3,316 4,719 Amortization of intangibles resulting from acquisitions 8,679 8,585 Change in allowance for doubtful accounts 30 289 Stock-based compensation 3,680 3,987 Changes in operating assets and liabilities: Accounts receivable 7,842 35,786 Inventories 234 (178) Prepaid expenses and other current assets (7) (1,018) (3,858) Deferred cost of revenues 957 1,344 Accounts payable 457 73 Accrued expenses (4,469) (6,914) Deferred rent 1,469 658 Deferred revenues (22,149) (39,585) ------- ------- Net cash (used in) provided by operating activities (6,055) 4,386 Cash flows from investing activities Purchases of property and equipment (7,944) (5,287) Payments for patent enforcement costs (635) (41) Purchase of available-for-sale investments - (6,586) Acquisitions, net of cash acquired (131,923) - -------- ------ Net cash used in investing activities (140,502) (11,914) Cash flows from financing activities Release of letter of credit - 80 Excess tax benefits from stock-based compensation 563 182 Proceeds from exercise of stock options 1,802 1,684 ----- ----- Net cash provided by financing activities 2,365 1,946 ----- ----- Net decrease in cash and cash equivalents (144,192) (5,582) Cash and cash equivalents at beginning of year 206,558 141,746 ------- ------- Cash and cash equivalents at end of year $62,366 $136,164 ======= ======== (7) As noted in footnote (2) above, FSP APB 14-1 required restatement of prior periods. Net loss, Amortization of debt discount, and Prepaid expenses and other current assets have been adjusted accordingly and were previously reported as $(3,293), $459, and $(1,033), respectively, for the three months ended March 31, 2008. About Blackboard Inc.

Blackboard Inc. is a global leader in enterprise technology and innovative solutions that improve the experience of millions of students and learners around the world every day. Blackboard's solutions allow thousands of higher education, K-12, professional, corporate, and government organizations to extend teaching and learning online, facilitate campus commerce and security, and communicate more effectively with their communities. Founded in 1997, Blackboard is headquartered in Washington, D.C., with offices in North America, Europe, Asia and Australia.

Blackboard Educate. Innovate. Everywhere.(TM)

Any statements in this press release about future expectations, plans and prospects for Blackboard and other statements containing the words "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These forward looking statements include statements about our expected financial results for the first quarter of 2009 and the full year 2009 and other statements about our future financial performance. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the factors discussed in the "Risk Factors" section of our Form 10-K filed on February 26, 2009 with the SEC. In addition, the forward-looking statements included in this press release represent the Company's views as of May 6, 2009. The Company anticipates that subsequent events and developments will cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to May 6, 2009.

Use of Non-GAAP Financial Measures

This release includes information about the Company's non-GAAP adjusted net income and non-GAAP adjusted net income per share, which are non-GAAP financial measures. Management believes that both measures, which exclude the amortization of acquisition-related intangible assets, stock-based compensation, and non-cash interest expense, provide additional useful information to investors regarding the Company's ongoing financial condition and results of operations and aspects of current operating performance that can be effectively managed. Because the Company has historically reported these non-GAAP results to the investment community, management also believes the inclusion of these non-GAAP financial measures provides enhanced comparability in its financial reporting and facilitates investors' understanding of the Company's historic operating trends by providing an additional basis for comparisons to prior periods. In addition, the Company's internal reporting, including information provided to the Company's Audit Committee and Board of Directors, contains non-GAAP measures. The Company has also adopted internal compensation metrics that are determined on a basis that excludes amortization of acquired intangibles and the associated tax impact, and in 2009 also excludes stock-based compensation expense and non-cash interest expense.

A material limitation associated with the use of the above non-GAAP financial measures is that they have no standardized measurement prescribed by GAAP and may not be comparable with similar non-GAAP financial measures used by other companies. The Company compensates for these limitations by providing full disclosure of each non-GAAP financial measure and reconciliation to the most directly comparable GAAP financial measure which investors can use to appropriately consider each financial measure determined under GAAP as well as on the adjusted non-GAAP basis. However, the non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In addition to the information contained in this release, investors should also review information contained in the Company's Form 10-K dated February 26, 2009, as well as other filings with the Securities and Exchange Commission when assessing the Company's financial condition and results of operations.

Blackboard Inc.

CONTACT: For Financial Media and Investors, Michael J. Stanton, Senior
Vice President, Investor Relations, +1-202-463-4860 ext. 2305, or For
Education & General Media, Matthew Maurer, Director, Public Relations,
+1-202-463-4860 ext. 2637, matthew.maurer@blackboard.com, both of Blackboard
Inc.

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

Blackboard to Acquire ANGEL Learning, Inc.Combined Company to Accelerate Innovation, Interoperability in e-Learning

WASHINGTON, May 6 /PRNewswire-FirstCall/ -- Blackboard Inc. , a global leader in education technology today announced a definitive agreement to acquire privately-held ANGEL Learning, Inc., a leading developer of e-learning software to the U.S. education industry.

The acquisition combines ANGEL's record of innovation and client service with Blackboard's own innovation, financial strength and industry leadership to create a stronger, more flexible supporter of teaching, learning and student engagement. The combined company aims to accelerate the pace of innovation and interoperability in e-learning, and will continue to invest in solutions to more effectively support teachers and learners. The acquisition will also enable Blackboard to incorporate ANGEL's client-first culture that has translated into consistently excellent experiences and high retention of ANGEL Learning clients.

Under terms of the agreement, Blackboard will acquire ANGEL Learning for approximately $95 million, net of cash acquired and excluding transaction costs. Both companies' boards of directors as well as ANGEL Learning's shareholders have approved the transaction and closing is expected in May 2009.

"Blackboard is committed to bringing together the best ideas, innovations and practices in e-learning today," said Michael Chasen, Blackboard's President and Chief Executive Officer. "With ANGEL Learning, we bring on board a premier education technology company with a tremendous reputation for innovation and e-learning leadership. Independently we've each led the way in many areas of the industry. Now we can put the strengths of Blackboard and ANGEL together for the benefit of students in our effort to create a more flexible and engaging teaching and learning platform."

"Now as part of Blackboard, we're confident that we can together help the combined client community advance e-learning and student achievement," said Christopher Clapp, ANGEL Learning President and Chief Executive Officer. "Together we can leverage our respective strengths to improve teaching and learning worldwide."

Headquartered in Indianapolis, Indiana, ANGEL Learning provides enterprise e-learning software to over 400 clients. The ANGEL product portfolio includes the ANGEL Learning Management System, ANGEL ePortfolio as well as ANGEL Managed Hosting. Additionally, ANGEL also provides consulting and training services.

A Combined Focus on Teaching and Learning

Blackboard's acquisition of ANGEL Learning will introduce a range of benefits to institutions and the e-learning community, including:

-- A combined global community of practice of more than 5,800 K-12 schools, colleges and universities, government organizations and corporations -- A broader, unified platform for the general media, publishers and e-learning software developers that increases interoperability for institutions -- A world-class service and support organization benefiting from best-practices and infrastructure investments -- Industry leading e-learning technology expertise including specialization on Microsoft's .NET platform and Microsoft technologies -- A stronger company with a greater capacity to invest in research and development for new solutions over time Financial Details of the ANGEL Learning Transaction

ANGEL Learning offers many of the same financial characteristics of Blackboard's business model, including an annual recurring subscription-based licensing model, ratable revenue recognition, a stable educational institutional client base and high renewal rates. Blackboard expects to realize greater revenue, profitability and cash flow following the integration of ANGEL Learning.

The approximate purchase price of $95 million will include approximately $80 million in cash and $15 million in stock, net of cash acquired and excluding transaction costs. Assuming the merger closes in May 2009, Blackboard expects this transaction to be accretive on a pro forma non-GAAP basis for calendar year 2009, excluding the write off of deferred revenues in purchase accounting and non-recurring merger and integration costs. For financial reporting purposes, Blackboard expects the transaction to be dilutive on a GAAP and non-GAAP basis for calendar year 2009. Blackboard expects to realize significant efficiencies by leveraging shared development infrastructure, sales, marketing, administrative and other expenditures.

Blackboard retained Thomas Weisel Partners LLC as its financial advisor and Cooley Godward Kronish LLP as its legal advisor. ANGEL Learning retained Evercore Partners as its financial advisor and Barnes & Thornburg LLP as its legal advisor.

Additional Information

Blackboard has launched a new portion of its Web site, http://www.blackboard.com/ANGEL, where anyone can track the latest news and information about the transaction.

About Blackboard Inc.

Blackboard Inc. is a global leader in enterprise technology and innovative solutions that improve the experience of millions of students and learners around the world every day. Blackboard's solutions allow thousands of higher education, K-12, professional, corporate, and government organizations to extend teaching and learning online, facilitate campus commerce and security, and communicate more effectively with their communities. Founded in 1997, Blackboard is headquartered in Washington, D.C., with offices in North America, Europe, Asia and Australia.

Any statements in this press release about future expectations, plans and prospects for Blackboard and other statements containing the words "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These forward looking statements include statements about our expected financial results for the first quarter of 2009 and the full year 2009 and other statements about our future financial performance. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the factors discussed in the "Risk Factors" section of our Form 10-K filed on February 26, 2009 with the SEC. In addition, the forward-looking statements included in this press release represent the Company's views as of May 6, 2009. The Company anticipates that subsequent events and developments will cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to May 6, 2009.

About ANGEL Learning

ANGEL Learning, Inc. develops and markets enterprise e-learning software. ANGEL Learning's flagship products are the ANGEL Learning Management Suite and the ANGEL ePortfolio system. ANGEL Learning's products have been honed by use -- with millions of students and instructors served from K to corporate. ANGEL enjoys a reputation for creating products with exceptional ease of use, excellent vision into learner progress, and for keeping its commitments. The ANGEL LMS has been recognized as a Finalist for the Best Postsecondary Course Management Solution CODiE award presented by the Software & Information Industry Association four consecutive years and is the only product to win the award two years in a row. ANGEL Learning won the 2008 Parature Legend Makers Award for "customer service and support excellence." Educators ranked ANGEL first in customer satisfaction in the IMS GLC Learn-Sat awards. ANGEL world headquarters are in Indianapolis, Indiana. To learn more about the ANGEL difference, visit us at http://www.angellearning.com/.

Blackboard Inc.

CONTACT: Financial Media and Investors, Michael J. Stanton, Senior Vice
President, Investor Relations, +1-202-463-4860, ext. 2305, or Education &
General Media, Matthew Maurer, Director, Public Relations, +1-202-463-4860,
ext. 2637, matthew.maurer@blackboard.com, both of Blackboard Inc.

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

Image Sensing Systems Announces First Quarter Financial Results

SAINT PAUL, Minn., May 6 /PRNewswire-FirstCall/ -- Image Sensing Systems, Inc. , announced today the results for its first quarter ended March 31, 2009.

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

Net income for the first quarter was $261,000 ($.06 per diluted share) compared to $1.1 million ($.26 per diluted share) for the same period in 2008. Revenue for the first quarter was $4.8 million compared to $5.9 million for the same period a year ago. Royalties were $2.3 million compared to $2.9 million in the first quarter of 2008. North American sales, which are sales of RTMS(R) in North America, were $1.3 million compared to $1.6 million for the period a year ago. International sales, which include both Autoscope(R) and RTMS sales outside of North America, were $1.2 million in the first quarter, compared to $1.4 million in last year's first quarter. Sales of RTMS worldwide for the quarter were $1.5 million as compared to $1.8 million in the first quarter of 2008.

On a non-GAAP basis, excluding intangible asset amortization net of tax, net income for the first quarter was $388,000 ($.10 per diluted share) compared to $1.2 million ($.29 per diluted share) in first quarter of 2008 and operating income was $607,000 compared to $1.7 million in 2008.

Ken Aubrey, CEO, said, "Our results reflect both the effect that the worldwide recession is having on governmental entities and the impact of our strong fourth quarter of 2008 during which we believe some business was accelerated to the detriment of the first quarter of 2009, especially by our North American Autoscope partner, Econolite Control Products, Inc. While we can't predict the term of the downward trend that we ascribe to the recession, we expect that our second quarter of 2009 will also trail last year's second quarter results. We are hoping that the various worldwide government stimulus packages will affect us positively in the second half of 2009. We have seen some signs of this already in North America.

"We are not hesitating, however, in our plans. While we have firmly managed expenses below fourth quarter of 2008 levels, we are actively pushing forward on our engineering program and sales and marketing expansion in Eastern Europe and Asia. In engineering, we are focused on reducing manufacturing costs, giving us a path to both short-term and long-term benefits on margins as well as an entree into some markets we currently don't serve, and on improved product performance. We believe we should use our financial strength in this recessionary time to take market share and position ourselves to be further ahead of the competition when a recovery is at hand."

"Owing to the unpredictable duration of the current recession, we will keep an eye towards delaying investments other than for the aforementioned key plans. Additionally, the executive group recommended that it not receive any salary increases in 2009 and our Board has accepted the recommendation. This is a measure of our commitment to spend wisely through the downturn," continued Mr. Aubrey.

Non-GAAP Information

We provide certain non-GAAP financial information as supplemental information to GAAP amounts. This non-GAAP information excludes the impact, net of tax, of amortizing the intangible assets from the EIS asset purchase. Management believes that this presentation facilitates the comparison of our current operating results to historical operating results. Management uses this non-GAAP information to evaluate short-term and long-term operating trends in our core operations. Non-GAAP information is not prepared in accordance with GAAP and should not be considered a substitute for or an alternative to GAAP financial measures and may not be computed the same as similarly titled measures used by other companies.

About Image Sensing

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

Safe Harbor Statement: Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management's current expectations or beliefs, and are subject to risks and uncertainties that could cause actual results or events to vary from stated expectations, which variations could be material and adverse. Factors that could produce such a variation include, but are not limited to, the following: the inherent unreliability of earnings, revenue and cash flow predictions due to numerous factors, many of which are beyond the Company's control; developments in the demand for the Company's products and services; relationships with the Company's major customers and suppliers; unanticipated delays, costs and expenses inherent in the development and marketing of new products and services; the impact of governmental laws and regulations; and competitive factors. Our forward-looking statements speak only as of the time made, and we assume no obligation to publicly update any such statements. Additional information concerning these and other factors that could cause actual results and events to differ materially from the Company's current expectations are contained in the Company's reports and other documents filed with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2008.

Image Sensing Systems, Inc. Condensed Consolidated Statements of Income (in thousands, except per share information) (unaudited) Three-Month Period Ended March 31, 2009 2008 Revenue Royalties $2,296 $2,892 North American sales 1,312 1,625 International sales 1,182 1,355 4,790 5,872 Cost of revenue 767 1,202 Gross profit 4,023 4,670 Operating expenses Selling, marketing and product support 1,630 1,333 General and administrative 975 888 Research and development 811 701 Amortization of intangible assets 192 192 3,608 3,114 Income from operations 415 1,556 Other income (expense), net (12) 41 Income before income taxes 403 1,597 Income taxes 142 541 Net income $261 $1,056 Basic net income per share $0.07 $0.27 Diluted net income per share $0.06 $0.26 Weighted shares - basic 3,985 3,928 Weighted shares - diluted 4,055 4,026 Reconciliation of GAAP to non-GAAP basis Non-GAAP operating expenses (1) 3,416 2,922 Non-GAAP income from operations 607 1,748 Other income (expense), net (12) 41 Non-GAAP income before income taxes 595 1,789 Non-GAAP income taxes (2) 207 606 Non-GAAP net income $388 $1,183 Non-GAAP basic net income per share $0.10 $0.30 Non-GAAP diluted net income per share $0.10 $0.29 Notes to non-GAAP adjustments ----------------------------- (1) Amortization of intangible asset for period as shown above is removed (2) Income tax expense is increased by impact of (1) at ISS' marginal tax rate of 34% Image Sensing Systems, Inc. Condensed Consolidated Balance Sheet (in thousands) (unaudited) March 31, December 31, 2009 2008 Assets Current assets Cash and cash equivalents $10,870 $10,289 Investments - 4,000 Receivables, net 4,753 6,620 Inventories 1,711 1,608 Prepaid expenses and deferred taxes 638 752 17,972 23,269 Property and equipment, net 783 728 Deferred income taxes 1,575 1,575 Goodwill and intangible assets, net 10,372 10,536 $30,702 $36,108 Liabilities and Shareholders' Equity Current liabilities Accounts payable and accrued expenses $1,730 $2,135 Bank debt - 3,750 EIS earnout payable 30 1,164 Income taxes payable 245 283 2,005 7,332 Income taxes payable 248 246 Shareholders' equity 28,449 28,530 $30,702 $36,108 Image Sensing Systems, Inc. Condensed Consolidated Statement of Cash Flows (in thousands) (unaudited) Three-Month Period Ended March 31, 2009 2008 Operating activities Net income $261 $1,056 Adjustments to reconcile net income to net cash provided by operations Depreciation and amortization 286 290 Stock option expense 93 73 Changes in operating assets and liabilities 1,002 (249) Net cash provided by operating activities 1,642 1,170 Investing activities Purchases of property and equipment, net of disposals (149) (37) Payment of EIS earnout (1,162) - Sales (purchases) of investments 4,000 (5,450) Net cash provided by (used in) investing activities 2,689 (5,487) Financing activity - repayment of bank debt (3,750) - Increase (decrease) in cash and cash equivalents 581 (4,317) Cash and cash equivalents, beginning of period 10,289 10,876 Cash and cash equivalents, end of period $10,870 $6,559

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

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

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

China GrenTech Schedules 2009 First Quarter Earnings Release For Thursday, May 14, 2009

Earnings Conference Call to be held on Friday, May 15, 2009 at 5:00 am (Pacific) / 8:00 am (Eastern) / 8:00 pm (Beijing/Hong Kong)

SHENZHEN, China, May 6 /PRNewswire-Asia-FirstCall/ -- China GrenTech Corporation Limited (Nasdaq: GRRF, "the Company", or "GrenTech"), a leading China-based radio frequency ("RF") technology and product developer and a leading wireless coverage products and services provider, announced that it will release unaudited financial results for the first quarter ended March 31, 2009 after the US market closes on Thursday, May 14, 2009.

The earnings release will be available on the investor relations page of its website at: http://www.grentech.com.cn/en/Earnings_Announcements.asp .

Following the earnings announcement, GrenTech senior management will host a conference call at 5:00 am (Pacific) / 8:00 am (Eastern) / 8:00 pm (Beijing/Hong Kong) on Friday, May 15, 2009 to discuss its 2009 first quarter financial results and recent business activities. To access the live teleconference, please dial 1 866 270 6057 (US) or 1 617 213 8891 (International), with passcode GRENTECHCALL. Please dial in approximately 10 minutes before the scheduled time of the call.

A replay of the conference call will be available through 10:00 am (Eastern) on May 22, 2009, by dialing 1 888 286 8010 (International callers use 1 617 801 6888) and entering passcode 53935145.

Additionally, a live webcast of the conference call and replay will also be available on the investor relations page of GrenTech's website at: http://www.grentech.com.cn/en/Earnings_Announcements.asp .

About China GrenTech

GrenTech is a leading developer of radio frequency ("RF") technology in China and a leading provider of wireless coverage products and services in China. The Company uses RF technology to design and manufacture wireless coverage products, which enable telecommunication operators to expand the reach of their wireless communication networks to indoor and outdoor areas, such as buildings, highways, railways, tunnels and remote regions. GrenTech's wireless coverage services include design, installation and project warranty services. The Company also tailors the design and configuration of its wireless coverage products to the specific requirements of its customers.

Based on its in-house RF technology platform, the Company also develops and produces base station RF parts and components sold to base station manufacturers. GrenTech is a qualified supplier of RF parts and components to the global and domestic major base station manufacturers including Huawei Technologies and ZTE Corporation. For more information, please visit http://www.grentech.com.cn/ .

For more information, please contact: Investor Contact: Kent Lo, Investor Relations Manager China GrenTech Corp Ltd. Tel: +86-755-2650-3007 Email: kentlo@GrenTech.com.cn Investor Relations (US): Delia Cannan Taylor Rafferty Tel: +1-212-889-4350 Email: GrenTech@Taylor-Rafferty.com Investor Relations (HK): Ruby Yim Taylor Rafferty Tel: +852-3196-3712 Email: GrenTech@Taylor-Rafferty.com Media Contact: Jason Marshall Taylor Rafferty Tel: +1-212-889-4350 Email: GrenTech@Taylor-Rafferty.com

China GrenTech Corporation Limited

CONTACT: Investor Contact - Kent Lo, Investor Relations Manager of China
GrenTech Corp Ltd., +86-755-2650-3007, or kentlo@GrenTech.com.cn; or Investor
Relations (US): Delia Cannan of Taylor Rafferty, +1-212-889-4350, or
GrenTech@taylor-rafferty.com; or Investor Relations (HK): Ruby Yim of Taylor
Rafferty, +852-3196-3712, or GrenTech@taylor-rafferty.com; Media Contact -
Jason Marshall of Taylor Rafferty, +1-212-889-4350, or
GrenTech@taylor-rafferty.com

Web site: http://www.grentech.com.cn/en/Earnings_Announcements.asp
http://www.grentech.com.cn/

Ascent Media, CBS and Warner Bros. Entertainment Create NextGen Syndication Distribution Platform

SANTA MONICA, Calif., May 6 /PRNewswire-FirstCall/ -- Ascent Media Group, CBS and Warner Bros. Entertainment announced the creation of a new platform designed to provide a cost-effective, optimized and streamlined platform for broadcast syndicated programming for North American broadcast stations.

The new platform builds on an established relationship between Ascent Media and Warner Bros. digital content distribution arm - Global Digital Media Xchange (GDMX). Since 2004, Ascent Media and GDMX have worked together to deliver syndication services to a variety of clients in the U.S. CBS will join Ascent and Warner Bros. to distribute CBS's syndication programming via the new platform.

The new platform will provide the capital investment and technology upgrades to create a cost-effective delivery solution which streamlines transmission of both HD and SD programming, significantly improving upon current technologies that require two streams to achieve the same goal. Combined with better compression techniques, additional storage capacity and optimized transmission technologies, the new platform hopes to provide many benefits to syndicators and stations at a critical time in the adoption of HD.

The service footprint will include a guaranteed minimum of 800 stations, including top 100 domestic markets, as a result of Warner Bros. and CBS both delivering their syndicated content over the network. The new service is expected to launch later this year.

"Broadcast stations need a simple solution for receiving both HD and SD programming, and syndicators require a cost-effective solution for getting their syndicated content to the largest number of stations. This new platform leverages the strengths of Ascent Media and Warner Bros. to meet those needs," said Jose Royo, CEO of Ascent Media Group. "Warner Bros. is a leader in syndicated HD programming and has been instrumental in designing the platform and incorporating feedback from stations. We are excited about the potential of this new platform to enable rapid innovation and address the content management challenges of distribution of syndicated content."

"This platform reflects the collective desire of Ascent Media and Warner Bros. to bring greater efficiency to the distribution process while providing improved High Definition delivery service to our collective affiliates and clients," said Darcy Antonellis, President, Warner Bros. Technical Operations. "We are excited to launch this new platform, to continue our work with Ascent Media."

About Ascent Media Group:

Santa Monica, California-based Ascent Media Group, LLC is a wholly-owned subsidiary of Ascent Media Corporation , which provides creative and technical services to the media and entertainment industries. Through more than 40 facilities in regions of Southern California, New York, Atlanta, London and Singapore, Ascent Media provides effective solutions for the creation, management and distribution of content to major motion picture studios, independent producers, broadcast networks, cable channels, advertising agencies and other companies that produce, own and/or distribute entertainment, news, sports, corporate, educational, industrial and advertising content.

About CBS Corporation:

CBS Corporation is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and The CW - a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime Networks and CBS College Sports Network), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products), video/DVD (CBS Home Entertainment), in-store media (CBS Outernet) and motion pictures (CBS Films). For more information, log on to http://www.cbscorporation.com/.

About Warner Bros. Entertainment Inc.:

Warner Bros. Entertainment - a fully integrated, broad-based entertainment company - is a global leader in the creation, production, distribution, licensing and marketing of all forms of creative content and their related businesses, across all current and emerging media and platforms. The company stands at the forefront of every aspect of the entertainment industry from feature film, TV and home entertainment production and worldwide distribution to DVD, digital distribution, animation, comic books, licensing, international cinemas and broadcasting.

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Ascent Media Corporation, CBS and Warner Bros. and its subsidiaries or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors include, among others: the risks and factors described in the statements and reports of Ascent Media Corporation, CBS and Warner Bros. filed or furnished with the Securities and Exchange Commission (and publicly available at the Securities and Exchange Commission's website, http://www.sec.gov/); general economic and business conditions and industry trends; spending on television advertising, first-run content libraries and existing content libraries; the regulatory and competitive environment of the industries in which Ascent Media Corporation, CBS or Warner Bros. operates; rapid technological changes; future financial performance, including availability, terms and deployment of capital; changes in, or failure to comply with, government regulations, including, without limitation, regulations of the Federal Communications Commission, and adverse outcomes from regulatory proceedings; and competitor responses to Ascent Media Corporation's, CBS' or Warner Bros. products and services, and the overall market acceptance of such products and services, including acceptance of the pricing of such products and services. These forward-looking statements speak only as of the date of this Release. Ascent Media Corporation, CBS and Warner Bros. expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Ascent Media Corporation, CBS or Warner Bros.' expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Ascent Media Group

CONTACT: Gail Laguna of Ascent Media, +1-818-260-6229,
GLaguna@ascentmedia.com; or Shannon Jacobs of CBS Communications,
+1-212-975-3161, sljacobs@cbs.com; or Erin Baudo of Warner Bros.
Entertainment, +1-818-954-3025, erin.baudo@warnerbros.com

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

Communications & Power Industries Collaborates With SAIC to Develop Terahertz Frequency Vacuum Electron Devices for DARPA

PALO ALTO, Calif., May 6 /PRNewswire-FirstCall/ -- Communications & Power Industries, Inc. (CPI) is a member of the research and development team selected as a subcontractor by Science Applications International Corporation (SAIC) to support the Defense Advanced Research Projects Agency (DARPA) multi-phase program to develop vacuum electron devices capable of operating at frequencies of up to one terahertz. DARPA has awarded a prime contract to SAIC potentially worth up to $11 million for fundamental research and development of this cutting-edge technology. If all contract options are exercised, CPI will receive more than $5 million for its work on the program. CPI, a subsidiary of CPI International, Inc. , is a leading provider of microwave, radio frequency, power and control solutions for critical defense, communications, medical, scientific and other applications.

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

The research and development team is led by SAIC , and, in addition to CPI, includes the U.S. Naval Research Laboratory (NRL), NASA's Jet Propulsion Laboratory (JPL), the University of Wisconsin, the University of Virginia, BeamWave Research Inc. and Lexam Research. CPI's Communications & Medical Products Division and Microwave Power Products Division will work on the program through mid-fiscal 2013 if all contract options are exercised.

"CPI is proud to join this collaboration of industry and scientific leaders and to contribute the expertise and pioneering technology we have developed in our more than six decades of developing and manufacturing high-power, high-frequency vacuum electron devices," said Joe Caldarelli, chief executive officer of CPI. "Like DARPA, we have a long history of pushing technological boundaries, and we believe this research into terahertz frequency vacuum electron devices will provide important advances for a number of technological applications across a variety of industries."

The team will work to break new ground in developing innovative, beyond state-of-the art vacuum electron devices. DARPA has tasked the team to develop vacuum electronics capable of operating at a frequency of up to one terahertz, which is many times the frequency of a "typical" vacuum electron device; "typical" vacuum electron devices operate at frequencies below 300 gigahertz. One terahertz is equal to 1,000 gigahertz or one trillion hertz (cycles per second).

About CPI International, Inc.

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

Certain statements included above constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements provide our current expectations, beliefs or forecasts of future events. Forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual events or results to differ materially from the results projected, expected or implied by these forward-looking statements. These factors include, but are not limited to, competition in our end markets; the impact of a general slowdown in the global economy; our significant amount of debt; changes or reductions in the U.S. defense budget; currency fluctuations; U.S. government contracts laws and regulations; changes in technology; the impact of unexpected costs; and inability to obtain raw materials and components. These and other risks are described in more detail in our periodic filings with the Securities and Exchange Commission. As a result of these uncertainties, you should not place undue reliance on these forward-looking statements. All future written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We undertake no duty or obligation to publicly revise any forward-looking statement to reflect circumstances or events occurring after the date hereof or to reflect the occurrence of unanticipated events or changes in our expectations.

Photo: http://www.newscom.com/cgi-bin/prnh/20060426/CPILOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com/ CPI International, Inc.

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

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

Harris Corporation to Host Webcast In Conjunction with Annual Analyst Meeting

MELBOURNE, Fla., May 6 /PRNewswire-FirstCall/ -- Harris Corporation will host a live audio webcast and listen-only conference call on Monday, May 11, at 1:30 p.m. ET in conjunction with its annual analyst meeting being held in New York City. The webcast and call will include presentations on the company's strategy and outlook by Howard L. Lance, chairman, president and chief executive officer, and a financial summary by Gary L. McArthur, senior vice president and chief financial officer.

The webcast will be broadcast live via the Internet at http://www.harris.com/webcast. The dial-in number for the conference call is 913-312-1400, access code 8074058. A replay of the conference call is available at 719-457-0820, access code 8074058 from 5:00 p.m. May 11 (ET) through midnight (ET) on Monday, May 18. A replay of the webcast will be available on the company's website.

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/.

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/

Latino Coalition Highlights Importance of Personal Health Records At Economic SummitMyMedicalRecords Bilingual PHR Identified as Helping Bring Healthcare Equality to Latino Families

LOS ANGELES, May 6 /PRNewswire-FirstCall/ -- MMR Information Systems, Inc. (BULLETIN BOARD: MMRF) , which through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. (collectively, "MMR") provides consumer-controlled Personal Health Records ("PHRs") (http://www.mymedicalrecords.com/) and electronic safe deposit box storage solutions (http://www.myesafedepositbox.com/), was recognized by Hector V. Barreto, Chairman of The Latino Coalition ("TLC") at The Latino Coalition's 2009 Economic Summit being held today in Washington, D.C. Mr. Barreto cited the MyMedicalRecords PHR as the first bilingual Personal Health Record to serve the Latino population and help bring healthcare equality to Latino families.

Appearing at The Latino Coalition Economic Summit are experts from federal agencies and corporations that include the U.S. Department of Health and Human Services, the U.S. Department of Veterans Affairs, the U.S. Department of Homeland Security, Lockheed Martin and Serco, among many others, to advise TLC members on how to pursue existing business development opportunities, including those linked to the economic stimulus package.

The Latino Coalition, based in Irvine, California, was founded in 1995 to research and develop policies relevant to Latinos and has a network of more than 600,000 business owners nationwide.

"President Obama's economic stimulus package allocates $19 billion for health information technology under the HITECH Act. We want to ensure that the Latino population receives its fair share of the resources that will make it easier for Latino families to better manage their health and medical information, which becomes increasingly critical as America's healthcare system undergoes reform. That is why the MyMedicalRecords Personal Health Record will be offered to members and employees of The Latino Coalition," said Mr. Barreto.

According to Robert H. Lorsch, Chairman and CEO of MMR Information Systems, Inc., "The MyMedicalRecords PHR enables individuals and their families to easily access their health information in both English and Spanish, which promotes communication with doctors and helps prevent medical errors. We are proud that our effort to recognize the Hispanic population in our society has enabled us to enter into an agreement with The Latino Coalition to offer a truly user-friendly PHR to TLC members as a way to further help reduce costs in the delivery of healthcare."

Hector V. Barreto, Chairman of The Latino Coalition, also serves on the Board of Directors of MMR Information Systems, Inc.

About The Latino Coalition

The Latino Coalition (TLC) was founded in 1995 by a group of Hispanic business owners from across the country to research & develop policies relevant to Latinos. TLC is a non-profit, nationwide organization based in Irvine,

California, with offices in Washington, D.C. and Mexico. TLC was established to address policy issues that directly affect the well-being of Hispanics in the U.S. TLC's agenda is to develop initiatives and partnerships that will foster economic equivalency and enhance overall business, economic and social development of Latinos.

About MMR Information Systems, Inc.

MMR Information Systems, Inc. (formerly Favrille, Inc.), through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. (collectively, "MMR"), provides secure and easy-to-use Web-based Personal Health Record (PHR) and electronic safe deposit box storage solutions, serving consumers, healthcare professionals, employers, insurance companies, unions and professional organizations. Seeking to empower individuals and their families to have greater control over their health and well-being, MMR facilitates access to medical records and other important documents, such as living wills, birth certificates, passports, advance directives and insurance policies, anytime from anywhere using the Internet. MMR's principal product, the MyMedicalRecords PHR service, accessed through http://www.mymedicalrecords.com/, is built on proprietary patent-pending technology that enables users to transmit documents, images and voicemail messages in and out of the MyMedicalRecords PHR system using a variety of methods, including fax, phone, and file upload without relying on any specific electronic medical record platform to populate a user's account. Users and medical providers can fax paper records (such as laboratory tests, radiology reports and physician's notes), or scanned images can be uploaded, into a secured personal account, which the user can access and organize as necessary, including filing particularly sensitive documents in virtual lockboxes protected by secondary passwords, and designating certain records as accessible to medical personnel and first responders by way of a separate Emergency Login. MyMedicalRecords PHR also includes the Cerner Multum Drug Content database, licensed to MMR from Cerner Corp. . MMR offers its MyEsafeDepositBox service, available at http://www.myesafedepositbox.com/, which is designed to provide secure online storage for vital financial, legal and insurance documents in addition to medical records using the same patent-pending technologies that drive the MyMedicalRecords PHR service. In its final stages of development, MMR's MyMedicalRecords Pro service is designed to give physicians' offices a cost-effective solution to the expensive and time-consuming problem of digitizing paper-based medical records. MMR clients include AFL-CIO, Alexian Brothers Hospital Network, Coverdell, MedicAlert, Midwest Research Institute, Qvisory, XN Financial and others. MMR is also an integrated service provider on Google Health. Additional information regarding MMR's business and its products, including trial accounts, is available at http://www.mymedicalrecords.com/ and http://www.mmrinformationsystems.com/. Information on MMR's Websites is not incorporated by reference into this press release.

MMR Information Systems, Inc.

CONTACT: Bobbie Volman of MyMedicalRecords, Inc., +1-310-476-7002, ext.
129, bvolman@mmrmail.com

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

Microsoft présente ses partenariats et collaborations sectoriels au Management World 2009

NICE, France, May 6 /PRNewswire/ --

- Microsoft est situé dans le hall 2 au stand 83.

Cette semaine, à l' occasion du Management World 2009, Microsoft Corp. exhibera la valeur du modèle de partenariat du secteur des télécommunications. Microsoft présentera les résultats de sa collaboration avec Logica, MetraTech Corp., Microsoft Surface, Tata Consultancy Services Ltd. et Tribold, en mettant en lumière un nouveau scénario de gestion des recettes, des services, des clients et des produits.

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

<< Microsoft possède l'un des programmes de partenariat les plus étendus du secteur, et nous nous consacrons à impulser l'innovation par le biais d'investissements dans notre écosystème de partenaires >>, a déclaré Terry McGuigan, directeur des télécommunications du Secteur Communications de Microsoft. << Dans une économie difficile et un secteur compétitif, il ne s'agit pas simplement d'offrir des produits de base, mais d'offrir une stratégie robuste << software plus services >> (logiciel plus services) et des solutions pouvant aider les sociétés de télécommunication à rendre leurs affaires plus vigoureuses. Nous souhaitons que nos partenaires puissent tirer profit des atouts que nous offrons, qu'ils soient plus efficaces et augmentent ainsi la valeur et le rendement de leur société. >>

Le programme << Content Encounter >>

Microsoft participe au TeleManagement Forum Content Encounter(Phase 4), un programme de démonstration dans lequel les secteurs des communications et des médias collaborent sur de nouvelles façons de créer, de fournir et de monétiser les services de contenus numériques. Microsoft participera à la démonstration, intitulée << Business Optimization : Profitably Operationalize New Business Models in the New Digital Economy >> (Optimisation des affaires : comment opérationnaliser de manière efficace de nouveaux modèles de gestion dans la nouvelle économie numérique) et présentera Microsoft Commerce Server 2009 avec une application Silverlight de Microsoft, afin de proposer de façon dynamique des contenus payants basés sur les informations de réseau et d'abonnés de la solution Telcordia Real Time Policy. Pour aider à monétiser les services, la solution Microsoft Advertising renverra des publicités spécifiques basées sur la recherche et les informations du système évaluées en temps réel par rapport à l'information de réseau, tels que le lieu, et envoyées ensuite vers plusieurs dispositifs mobiles.

Présentations par les conférenciers

En outre, Microsoft jouera un rôle actif dans le programme éducatif lors de la conférence Management World 2009. Eric Troup, architecte en chef du Secteur Communications de Microsoft, participe à deux tables rondes sur la distribution de services avancés et les fournisseurs d'informatique dématérialisée (cloud). Richard Koh, directeur de gestion de produits techniques du groupe Online Services destinés aux entreprises, abordera la syndication de Microsoft Online Services avec les partenaires stratégiques, et Rainer Kellerhals, directeur mondial des solutions pour les médias et le divertissement du Secteur Communications de Microsoft, dirigera une séance sur la chaîne de valeur des médias numériques.

Prix << TM Forum Excellence Awards >>

Microsoft a été nominé dans la catégorie << Best Practices Award -Service Provider >> (Prix des meilleures pratiques- Prestataire de services) du prix << TM Forum Excellence Award >> (Prix d'excellence TM Forum) pour son offre de services en ligne. Cette nomination est dûe au travail entrepris par Microsoft sur sa stratégie << software-plus-services >>, avec en 2008 Azure Services Platform, Live Services et Online Services. Microsoft a redéfini ses applications commerciales existantes pour répondre aux besoins d'une société prestataire de services comme elle l'aurait fait avec Online Services, et pour poser les bases de la mise en place d'une nouvelle pile de systèmes d'aide à la facturation/système d'aide opérationnelle (BSS/OSS) basée sur l'architecture de référence TM Forum New Generation Operations Systems and Software, afin d'accélérer sa mise en place, son instrumentation avec le programme TM Forum Business Benchmarking. En utilisant les outils de modélisation de l'architecture d'entreprise, Microsoft a programmé et lancé sa pile BSS/OSS en seulement huit mois.

Microsoft au Management World 2009

De plus amples renseignements sont disponibles au stand de Microsoft, hall 2, stand 83.

Séances des conférenciers -- Pourquoi et pour qui un cadre d'application de livraison de services est-il nécessaire ? Eric Troup, architecte en chef du Secteur Communications de Microsoft 16-17h30, mercredi 6 mai -- Fournisseurs d'informatique dématérialisée : Répondre aux besoins de gestion et des clients Eric Troup, architecte en chef du Secteur Communications de Microsoft 14-15h30, jeudi 7 mai -- Transformation technologique : Syndication d'Online Services de Microsoft avec des partenaires stratégiques Richard Koh, directeur de gestion de produits techniques du groupe Online Services destinés aux entreprises, Microsoft 9-10h30, vendredi 8 mai -- Gestion des médias numériques : Solutions de gestion des contenus medias Rainer Kellerhals, directeur mondial des solutions pour les médias et le divertissement, Microsoft 11-12h30, vendredi 8 mai

Fondée en 1975, Microsoft (Nasdaq : MSFT) est le leader mondial des logiciels, des services et des solutions qui aident les individus et les entreprises à réaliser pleinement leur potentiel.

Microsoft Corp

Europe, Moyen-Orient et Afrique, Laura Woodward, +44-7894-193-887, lwoodward@webershandwick.com, ou États-Unis, Rose Tucker, +1-425-452-5463, rtucker@webershandwick.com, ou Asie-Pacifique, Xiao Yu Tan, +65-6825-8032, WSCommSectorAPACTeam@webershandwick.com, tous de Weber Shandwick pour Microsoft Corp ; NOTE AUX REDACTEURS : Pour obtenir plus d'informations sur Microsoft, veuillez consulter la page Microsoft sur http://www.microsoft.com/presspass sur les pages d'information de Microsoft. Les liens hypertextes, les numéros de téléphone et titres étaient exacts au moment de la publication, mais ils peuvent avoir changé depuis. Pour davantage d'assistance, les journalistes et analystes peuvent contacter l'équipe de réponse rapide ou l'un des contacts dont les coordonnées figurant sur : http://www.microsoft.com/presspass/contactpr.mspx. ; Photo : http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO

HowStuffWorks.com Takes the Confusion Out of the DTV TransitionSite Offers a Clear Picture on What Consumers Should Know and Do Before June 12

ATLANTA, May 6 /PRNewswire/ -- With the June 12 digital transition deadline fast approaching, HowStuffWorks.com, the Web site famous for its easy-to-understand explanations of how the world works, gives consumers everything they need to make sense of the transition and to ensure they have an uninterrupted TV viewing experience: http://electronics.howstuffworks.com/dtv.htm .

TV Goes Digital

Under a mandate from the Federal Communications Commission (FCC), all US television stations must transition from their old, analog signals to new, digital signals by June 12. Despite the extensive coverage of the transition, many viewers are not ready, which means they will soon be left with gray fuzz on their screens.

After June 12, consumers without the appropriate digital TV equipment will be unable to access broadcast channels. While many consumers will be unaffected by the switch, an estimated 3.6 million households* will need to take a few easy steps such as getting a digital converter box. HowStuffWorks.com breaks it down so consumers can determine if they will be affected and what they need to do: http://electronics.howstuffworks.com/digital-converter-box.htm .

"HowStuffWorks.com aims to cut through the confusion around DTV and offers consumers a clear and easy-to-understand look at the transition," said the original mastermind behind HowStuffWorks.com, Marshall Brain. "While many people already have digital-ready TV sets and will not need new equipment, the move to all digital signals represents an important shift in the television viewing experience that impacts every consumer."

Why Digital is Better

Some may wonder what all the fuss is about and whether the transition is really necessary, but digital signals offer clear advantages to the consumer, another reason not to wait to make the switch: http://electronics.howstuffworks.com/digital-converter-box2.htm .

TV Terms to Know

TV terminology is alphabet soup to many people. From aspect ratio to ATSC and frame rate to MPEG-2, the language can sound remote. Get a wide understanding on 16x9 and more:

http://electronics.howstuffworks.com/hdtv2.htm . What TV Do You Have? -- Analog TV sets - A TV set that you don't want in your living room on June 12. -- Digital-ready sets - They should be called standard-definition TV (SDTV) sets. These TVs are normally 480p displays with an analog tuner (for the normal channels 2 through 83) built in. Their maximum resolution is the low 480p SD resolution or DVD quality. Viewers should consider an HDTV set (720p or 1080i/p), which allow consumers to watch TV programs in the highest quality. -- HDTV-ready sets - These sets are essentially computer monitors able to display 1080i/p resolution in the 16:9 aspect ratio. They may or may not have analog tuners built in. -- Integrated HDTV sets - These sets have a digital tuner for broadcast DTV signals integrated into an HDTV display. With the standards changing so much, you may end up paying for an integrated tuner that becomes obsolete.

Learn more on buying a digital TV set: http://electronics.howstuffworks.com/dtv5.htm and discover the world of HDTV: http://www.howstuffworks.com/hdtv.htm

Notes for Media

Media is encouraged to link to HowStuffWorks.com articles. Please credit HowStuffWorks.com for any articles posted. Interviews are available with DTV specialists.

About HowStuffWorks.com

HowStuffWorks.com (http://www.howstuffworks.com/) is an online source of credible, unbiased and easy-to-understand explanations of how the world actually works. The site has won hundreds of awards since its inception, including multiple Webby Awards, Time Magazine's "25 Web Sites We Can't Live Without" and PC Magazine's "Top 100 Web Sites." In December 2007, HowStuffWorks.com was acquired by Discovery Communications and became part of Discovery's digital media strategy. Headquartered in Atlanta, Ga., HowStuffWorks.com was a subsidiary of The Convex Group, a media and technology company, from 2003 to 2007.

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HowStuffWorks.com

CONTACT: Nick Mendoza of Zeno Group for HowStuffWorks.com,
+1-310-566-3984, nick.mendoza@zenogroup.com; or Juliet Farrell for
HowStuffWorks.com, +1-240-662-1707, Juliet_farrell@discovery.com

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

Agilysys Enters Into New $50 Million Credit Facility

CLEVELAND, May 6 /PRNewswire-FirstCall/ -- Agilysys, Inc. , a leading provider of innovative IT solutions, today announced the company has entered into a $50 million asset-based credit facility. The facility has an accordion provision that allows the company to increase the size to $75 million. The facility has a term of three years and provides flexibility to fund a variety of investments including but not limited to working capital, capital expenditures and acquisitions.

(Logo: http://www.newscom.com/cgi-bin/prnh/20030915/AGLSLOGO)

The new credit facility replaces the company's previous unsecured financing facility, which was terminated January 20, 2009. The company had no amounts outstanding under the previous facility at the time of termination and had never drawn on the facility. Also, the company terminated its floor plan financing facility on May 4, 2009 and will primarily fund procurement of product through accounts payable terms provided by its trade vendors.

"The new credit agreement enhances our strong working capital position and further increases our financial flexibility," said Martin Ellis, president and CEO of Agilysys. "We continue to focus on driving positive operating cash flow and building value for our shareholders."

About Agilysys, Inc.

Agilysys is a leading provider of innovative IT solutions to corporate and public-sector customers, with special expertise in select markets, including retail and hospitality. The company uses technology - including hardware, software and services - to help customers resolve their most complicated IT needs. The company possesses expertise in enterprise architecture and high availability, infrastructure optimization, storage and resource management, identity management and business continuity; and provides industry-specific software, services and expertise to the retail and hospitality markets. Headquartered in Cleveland, Agilysys operates extensively throughout North America, with additional sales offices in the United Kingdom and China. For more information, visit http://www.agilysys.com/.

Investor contact: Curtis Stout Vice President and Treasurer Agilysys, Inc. 440-519-8635

Photo: http://www.newscom.com/cgi-bin/prnh/20030915/AGLSLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Agilysys

CONTACT: Investors: Curtis Stout, Vice President and Treasurer,
Agilysys, Inc., +1-440-519-8635

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

Honeywell to Present at Electrical Products Group Conference

MORRIS TOWNSHIP, N.J., May 6 /PRNewswire-FirstCall/ -- Honeywell today announced that Dave Cote, Chairman and CEO, will be speaking at the Electrical Products Group Conference in Longboat Key, Florida, on Monday, May 18, 2009, from 7:30 a.m. to 8:10 a.m. EDT.

A real-time audio webcast of the presentation and related presentation materials will be posted to http://www.honeywell.com/investor prior to the presentation. The presentation materials will be in Adobe Acrobat format. A replay of the webcast will be available following the presentation at the same link listed above for 30 days following the presentation.

Honeywell International (http://www.honeywell.com/) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit http://www.honeywellnow.com/.

Contacts: Media Investor Relations Robert C. Ferris Murray Grainger (973) 455-3388 (973) 455-2222 rob.ferris@honeywell.com murray.grainger@honeywell.com

Honeywell

CONTACT: Robert C. Ferris (media), +1-973-455-3388,
rob.ferris@honeywell.com or Murray Grainger (investor relations),
+1-973-455-2222, murray.grainger@honeywell.com

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

Warp 9 Launches Lehmans.com; Signs 3-year AgreementVeteran Cataloger and Retailer to expand features and capabilities under Warp 9 ICS platform

SANTA BARBARA, Calif., May 6 /PRNewswire-FirstCall/ -- Warp 9, Inc. (OTC Bulletin Board: WNYN), the premier provider of robust e-commerce platforms and services, today announces the launch of the business-to-consumer (B2C) site Lehmans.com on the Warp 9 Internet Commerce System (ICS) platform under a 3-year agreement.

Founded by Jay Lehman in 1955 and currently shipping to over 208 countries, Lehman's is one of the country's most respected catalogers and retailers. Jay's vision was to preserve the past for future generations. Over the years, other events, such as ice storms in the northeast, black-outs in California, damaging hurricanes, Y2K, and even 9-11 created demand for Lehman's products. Even museums and Hollywood have joined the list of satisfied clients, with movies like Cold Mountain with Nichole Kidman, Open Range with Kevin Costner, and Pirates of the Caribbean with Johnny Depp looking to bring historical authenticity to their productions.

The new website features: -- A brand new design. -- Integration of Warp 9's Virtual Catalog for display of their print catalog. -- An improved Warp 9 search solution. -- A specialized lamp finder tool. -- Integrated product videos. -- Multiple wish-list support. Additionally, Warp 9 provided solutions to address: -- Migration of old category/product/sku data. -- Seamless transfer of previous paid SEO solution to new included Warp 9 solution. -- Support for historical bookmarks, affiliate, and search engine links. -- Integration for order management system, order status, real-time and matrix based shipping options, membership/customer records, and a 3rd party e-mail solution.

Warp 9 powers some of the most successful e-commerce websites for retailers such as http://www.magellans.com/, Craft Supplies USA flagship site http://www.woodturnerscatalog.com/, and Spiegel Brands' http://www.carabella.com/, http://www.ablambdin.com/ and http://www.shapefx.com/.

About Warp 9

Warp 9, Inc. (http://www.warp9inc.com/) is the premier provider of enterprise-class e-commerce solutions and services to mid-sized businesses in the catalog and retail industry. With a proven track record and years of experience in the industry, Warp 9's comprehensive and scalable suite of software platforms and technologies for online catalogs, e-mail marketing, and interactive visual merchandising help businesses leverage the Internet to increase sales. Offered on a fully managed Software-as-a-Service (SaaS) model, Warp 9 products deliver unique benefits to its customers by reducing total cost of ownership, lowering upfront cost, providing faster time to market and being a one-stop-shop for all things e-commerce. Known for its outstanding customer service, Warp 9 powers some of the most successful e-commerce sites for companies like Magellan's and Spiegel.

Safe Harbor Statement:

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

Warp 9, Inc.

CONTACT: T. Harris, Media Relations of Warp 9, Inc., +1-805-964-3313 x
103

Web Site: http://www.warp9inc.com/

Last.fm Launches Personalized Visual Music Player Delivering Unparalleled, Multisensory Listening Experience

NEW YORK, May 6 /PRNewswire/ --

- Evolution of Online Music Combines Personalized Streaming Audio with Rich Visuals

- New Player Offers Enhanced Music Experience to Users and New Video Advertising Platform for Sponsors

Last.fm today announced the launch of its Personalized Visual Music player, a reinvention of the site's original online radio experience that now combines personalized streaming radio stations with rich media visuals to deliver an unparalleled multisensory listening experience to its users and unique video advertising opportunities to brands and sponsors. Last.fm is part of the newly formed CBS Interactive Music Group, a division within CBS Interactive that brings together the Company's industry-leading digital music assets.

At the center of this new listening experience is the unique next-generation player that will offer users a continuous stream of artist images, music videos and other types of rich media of the artist being played, creating a multisensory experience way beyond any traditional online music streaming service.

Additionally, users can now create multi-genre stations by mixing music tags -- "80s" and "Soundtrack," or "French," "60s" and "Female" for example -- to fine-tune their music channel. Multi-artist radio enables users to launch stations based on combinations of their favorite bands and performers; listening to a music stream featuring the likes of Radiohead, Rachmaninoff and Rage Against the Machine is now a reality.

The new music player provides advertisers and sponsors with unique visual branding opportunities to efficiently reach Last.fm's highly engaged audience in a more immersive manner than that of audio advertising.

Martin Stiksel, Last.fm Co-Founder, said, "Personalized Visual Music shows what's possible with Last.fm's unparalleled music database and the innovative vision of our team. We were the first Web site to offer personalized streaming music, and this marks the next evolution of that service. Passionate music fans come to Last.fm for more than just the songs, and Visual Radio provides them with the enriching, full-featured music experience they demand. And the bold new music player allows brands and sponsors the opportunity to directly reach these users in a visually exciting way."

Felix Miller, Last.fm CEO and Co-Founder, said, "Last.fm prides itself on using music as the carrier medium for a much richer user experience, centered around a deep dive into an artist's creative output, personality, activity and live events. Last.fm users, who listen to a billion tracks a month, are able them to share this experience with their friends, and we tie it all together with a world-class discovery engine that continues to surprise and delight music fans across the Web. Today's launch marks another milestone for us on this journey of taking music listening to the next level."

Personalized Visual Music puts the best features of Last.fm in one place. The most accurate similar artist recommendations online, relevant concert listings targeted to your locality, unparalleled song and artist information drawn from a music database of over 45 million tracks -- the "greatest hits" features of the Last.fm music experience are instantly accessible the second you press play on your Last.fm radio station, direct from the Radio page.

Check out the evolution of online music at http://www.last.fm/listen For screenshots and demo videos please go to http://static.last.fm/visualradio/web_skinned_playing.jpg or http://static.last.fm/visualradio.

About Last.fm

Founded in 2002, Last.fm is a CBS Corporation (NYSE: CBS.A and CBS) owned free global music platform. Last.fm offers music fans millions of tracks in every genre for free-on-demand and radio streaming thanks to partnerships with Universal, EMI, Sony BMG, CD Baby, independent aggregators The Orchard and IODA, and more than 280,000 independent artists and labels -- without needing to register or download software. Last.fm can intelligently recommend its 30 million monthly users new songs, artists, local concerts and even other members based on their musical tastes. Last.fm also supports unsigned artists by offering them an unprecedented Artist Royalty program through which they can earn revenue directly from Last.fm every time their music is streamed. Learn more about Last.fm at http://www.last.fm/.

About CBS Interactive Music Group

The CBS Interactive Music Group, a division within CBS Interactive Inc., is an industry-leading digital music group comprised of over 100 CBS RADIO music Web site, the world's number one internet radio service, which powers AOL Radio and Yahoo's Launchcast Radio as well as the leading global music discovery site, Last.fm. The CBS Interactive Music Group provides users with more content and community around their favorite music and reaches more than 40 million unique monthly users worldwide. CBS Corporation (NYSE: CBS.A and CBS) is the parent company of CBS Interactive, Inc.

Last.fm

Katie Gunion, +1-212-975-8009, katie.gunion@cbs.com

Time Is Right to Find Efficiencies in HR Technology, Watson Wyatt SaysThree Things HR Can Do to Manage Through the Economic Crisis

WASHINGTON, May 6 /PRNewswire-FirstCall/ -- By reviewing their function's technology footprint and finding ways to streamline IT processes, HR departments can help their organizations cut costs, find efficiencies and support worker productivity in the current economic environment, according to technology experts at Watson Wyatt , a leading global consulting firm.

"HR technology is ripe for review," said Steve Hitzeman, senior leader in Watson Wyatt's technology and administration solutions practice. "The goal is not only to find near-term efficiencies but also to ensure the organization is positioned for growth when economic conditions improve."

Watson Wyatt experts offer three ways employers can use HR technology to manage the economic downturn more efficiently:

1. Optimize HR operational and service delivery effectiveness

According to Watson Wyatt's 2009 HR Technology Trends survey, 61 percent of companies are seeking to optimize their delivery model and vendors. Conducting a review of the current HR service delivery model -- which includes a mix of HR technology, call centers and vendors -- can result in dramatic cost savings.

Despite the fact that in the last 10 years many HR departments have adopted organizational models that aim to reduce administrative costs and enable HR to take on more strategic work, the relative effort HR spends on administration has not changed significantly. This is because most HR departments adopted these models but did not follow up to effectively integrate different technologies.

"Instead of simply rearranging the HR organization, companies can consolidate, integrate and streamline processes," said Robert Crow, senior consultant in Watson Wyatt's technology and administration solutions practice. "This can result in cost and time savings, and free up resources to enable HR to become more of a business partner to the overall organization."

2. Review and benchmark outsourced vendor contracts

Many companies are not seeing the full effect of process efficiencies, cost savings or improved service they expected from their human resources outsourcing and related technology and service vendor contracts. These companies often have a patchwork of applications and service providers that aren't fully integrated or optimized. Watson Wyatt estimates that companies can realize savings between 10 percent and 20 percent once the entire vendor relationship has been assessed. According to the HR Technology Trends survey, 33 percent of companies are reviewing or updating vendor contracts.

"By taking a step back and reviewing HR technologies, processes and vendor relationships, companies might be able to find hidden pockets of savings and ways to improve efficiencies without an enormous upfront cost," said Crow.

3. Leverage Web 2.0 technologies to create a "consumer-grade" experience

In today's climate, consistent, open communication and collaboration are more crucial than ever. However, while employees look to HR managers for help interpreting large quantities of information, the HR managers are struggling to stay connected with each other, let alone with their employee population.

Leveraging Web 2.0 technologies -- such as blogs, podcasts, wikis and shared teamsites -- is key to managing today's information overload and engaging employees. The generation currently entering the workforce has learned to communicate and collaborate using these tools and expects the same "consumer-grade" experience at work. This can be achieved with corporate tools similar to Facebook, Twitter and YouTube available internally, significantly improving connectivity and employees' experience of the company intranet.

"HR can take a page from the Internet playbook and benefit from the same tools that have driven the unexpected explosion in online productivity and innovation globally," said Michael Rudnick, Watson Wyatt's global intranet and portal leader. "What's more, it can enhance communication at a time when employees need to understand where the business stands, what their future holds and how they can contribute to business success."

About Watson Wyatt Worldwide

Watson Wyatt is the trusted business partner to the world's leading organizations on people and financial issues. The firm's global services include: managing the cost and effectiveness of employee benefit programs; developing attraction, retention and reward strategies; advising pension plan sponsors and other institutions on optimal investment strategies; providing strategic and financial advice to insurance and financial services companies; and delivering related technology, outsourcing and data services. Watson Wyatt has 7,700 associates in 33 countries and is located on the Web at http://www.watsonwyatt.com/.

Watson Wyatt

CONTACT: Steve Arnoff, +1-703-258-7634, steven.arnoff@watsonwyatt.com;
or Ed Emerman, +1-609-275-5162, eemerman@eaglepr.com

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

Verizon Provides Its Managers With Mobile Access to Company's Operations Systems to Boost Customer Service, EfficiencyCompany-Developed Software Program Pumps Both System Performance and Individual Customer Data to BlackBerry Smartphones, Allowing Prompt Attention to Service Issues

ORLANDO, Fla., May 6 /PRNewswire/ -- Verizon customer-service managers now can have anytime, anywhere access to the company's systems and records that support service delivery, via a new software program developed for BlackBerry(R) smartphones.

The new program, called iSite, was unveiled Wednesday (May 6) by Charles Henry, vice president of IT program management, ITO and systems automation for Verizon's Telecom team, at Wireless Enterprise Symposium (WES) 2009 in Orlando. Verizon's information technology team developed the open-source software to leverage the power of wireless communications in the management of telecommunications operations.

"With iSite, Verizon managers who are addressing customer service issues have instant access -- no matter where they are -- to both systems and individual customer records, so that they can intervene and more quickly resolve problems or issues affecting customer service," Henry said.

The new software offers views of ordering systems, provisioning processes and repair records, among others, eliminating the need to contact personnel manning the systems. Managers working on a DSL installation issue, for example, can access the relevant records to check whether service has been established, whether site visits were scheduled, or to examine recent attempts to remedy a problem. Once any issues are identified, attention can be immediately focused on the problem and corrective action taken.

The program also features up-to-the-minute analyses of the performance of various systems, allowing managers to make decisions on both current and projected problems involving local, regional or national processes that underpin service.

For individual customer accounts, iSite allows detailed account reviews, including, for instance, whether the appropriate service discounts have been applied, should customers complain about billing issues.

"The key here is the versatility and mobility that access to these systems via Verizon Wireless high-speed data service allows," Henry said. "This kind of instant, detailed scrutiny of performance factors can even impact revenue because we can tend to customer issues before the customer gets frustrated and seeks another service provider."

At the WES conference last year, Henry unveiled a BlackBerry-based tool for field technicians to use in arranging and tracking their customer installation and repair efforts. That system substituted BlackBerry smartphones for bulky laptop computers and simplified work-process tracking.

The iSite program includes the following features: -- Ability to provide critical operations measurements so corrective action can be hastened. -- Holistic and predictive analyses of service-quality processes, allowing work-management adjustments to improve service delivery in real time. -- Analysis tools that identify root causes of problems with service-level maintenance in customer-service processes. -- Instant access to details of individual customer-account status so executives or technicians can promptly address a customer's service issue. -- Work-list management tools to improve field personnel efficiency.

"This is a strategic tool that will directly improve customer service and help position Verizon service as better than what the competition offers," Henry said. "With service quality an increasingly important differentiator in the marketplace, a tool like iSite gives Verizon another competitive advantage."

The iSite program is currently in use by the IT team to manage systems and will soon be available for full field deployment in telecommunications operations.

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. The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited.

Verizon

CONTACT: Jim Smith, Verizon, +1-908-559-3477,
james.albert.smith@verizon.com

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

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

RSA Simplifies Use of Encryption with New Release of RSA(R) Key Manager SuiteUpgrades from EMC's Security Division Designed to Address the Customer Need for Consistent Key Policies and to Lower the Cost of Managing EncryptionData Tokenization from RSA Integrates and Extends Capabilities of RSA Key Manager Suite

BEDFORD, Mass., May 6 /PRNewswire/ -- RSA, The Security Division of EMC today announced enhancements to RSA(R) Key Manager Suite (RKM), its enterprise encryption key management system designed to manage encryption keys at the application, database, and storage layer. With new integrations and server-side management features, RKM 2.5 can help lower the total cost of ownership associated with encryption by giving administrators strong control over the vaulting and management of keys from one central location. RSA Professional Services now also offers a new Tokenization Service that is engineered to extend RKM by enabling the use of tokens to mask and protect sensitive data.

"Customers are continuing to deploy encryption in more places across their infrastructure to address different data security risks," said Tom Corn, vice president, Product Marketing, RSA, The Security Division of EMC. "As a result, they need enterprise key management systems like RKM to help reduce the management complexity and cost associated with point solutions. A centralized enterprise key management system allows them to adopt an encryption solution that works for them today and can expand to other encryption solutions in the future, without having to change their approach to key management."

"Encryption is the ultimate control technology for meeting security standards and regulatory guidelines for information protection. However, encryption has been done in a stove piped manner. Encryption is most effective when part of a long-term data protection strategy," said Charles Kolodgy, research director, Secure Products, IDC. "Proper key management is the key to building a comprehensive data protection infrastructure out of the chaotic world of single purpose encryption applications. Products such as the RSA Key Manager provide an enforcement mechanism that will scale across and interoperate with all the different encryption technologies in the enterprise to make their encryption strategies more effective."

Adding to Industry-Leading Interoperability with New Integration Partners

RSA Key Manager is designed to simplify the ongoing operational headache associated with encryption by providing enterprise key management across multiple encryption points in the enterprise including tape/virtual tape, disk, databases, and applications. The latest offering includes direct integrations with two new technology partners, Brocade and Sun. These integrations are built with a direct communication between the key management server and the devices performing encryption, eliminating the need for unnecessary software layers:

Data Center Fabric-based Encryption Solutions

Data center storage switches and blades, offered through EMC Connectrix(R) technology and leveraging RSA(R) Key Manager technology, re-direct traffic from servers and applications to encryption services and to back-end storage. These solutions offer a scalable and innovative approach to fabric-wide encryption for data-at-rest within the data center.

-- Brocade(R) 32-port standalone encryption switch -- Brocade 16-port encryption blade for DCX family Native Tape Encryption -- Sun StorageTek LTO-4 Tape Drives

These integrations build on RKM's industry-leading interoperability, which includes existing integrations with EMC PowerPath(R) path management software, EMC Connectrix SAN switches, Cisco MDS switches, the Advanced Security option for Oracle Database 11g Enterprise Edition, and Quantum and IBM LTO-4 tape drives.

New Features Help Improve Security and Reduce the Time and Cost Associated With Encryption

Encryption environments can often include many different application clients and devices performing cryptographic functions. Managing the permissions (i.e. the ability to encrypt, decrypt, generate keys, etc.) of these clients is often complex and time consuming, and can vastly increase the operational overhead associated with managing the encryption process. RKM 2.5 simplifies this as it is designed to allow granular control of permissions for each device or application in the system from a central location. This reduces overhead associated with multiple key management silos and gives greater control to administrators.

Key managers are also responsible for maintaining audit activities to ensure compliance. Compliance rules require that companies maintain a log when keys are generated, rotated, or expired, and administrators often bare the burden of ensuring these functions are performed. RKM 2.5 is now engineered to capture and logs more detail on encryption operations, leading to easier and less costly audits. In addition, server-side searching, and meta-data editing increases usability and allow for keys to be tagged for easy retrieval, which comes in handy when a specific piece of information needs to be decrypted.

RKM 2.5 is also designed to increase security by centralizing the vaulting and controlling of keys. Administrators can now rotate and delete keys centrally to ensure security requirements are met. This allows administrators to take action quickly if a key is compromised. RKM also includes a centralized key vault with automated replication and failover to ensure that keys are backed up and available at all times.

RSA Key Manager helps reduce the complexity of managing encryption by enabling a centralized policy-based approach to key management, governing access to keys, sharing of keys, expiration of keys, shredding of keys, and all other aspects of key life cycle management.

According to Tim Stanley, CISO at Continental Airlines, RKM has helped the company with its compliance initiatives. "Enterprise key management is an extremely important piece of any good security infrastructure," said Stanley. "RSA Key Manager provides us with centralized control of keys to ensure that encryption is handled properly and that keys are available over the long-term."

New Tokenization Integration with RKM 2.5

RSA is also announcing the availability of Data Tokenization Services for RSA Key Manager, available now as a packaged offering from RSA Professional Services. For many applications, tokenization offers a strong alternative to encryption for the protection of sensitive data.

Tokenization is designed to allow for data-masking without changing the underlying format of the data, and provides security without substantial operational changes to the application infrastructure. For example, credit cards stored in a database will maintain a sixteen digit field length but applications and users without access to the RKM token server would interact with the masked version of the data. This is a valuable feature for customers who need solid protection of sensitive data without significant operational complexity. Currently implemented with several large enterprise organizations, RSA Tokenization Services is engineered to integrate with RKM to provide encryption of sensitive data and centralized management of tokens.

Product Availability

RKM 2.5 and Tokenization Services are generally available worldwide now. For more information, please visit http://www.rsa.com/node.aspx?id=3485

About RSA

RSA, The Security Division of EMC, is the premier provider of security solutions for business acceleration, helping the world's leading organizations succeed by solving their most complex and sensitive security challenges. RSA's information-centric approach to security guards the integrity and confidentiality of information throughout its lifecycle -- no matter where it moves, who accesses it or how it is used.

RSA offers industry-leading solutions in identity assurance & access control, data loss prevention, encryption & key management, compliance & security information management and fraud protection. These solutions bring trust to millions of user identities, the transactions that they perform, and the data that is generated. For more information, please visit http://www.rsa.com/ and http://www.emc.com/.

RSA is a registered trademark or a trademark of RSA Security, Inc. in the U.S. and/or other countries. EMC, Connectrix and Powerpath are registered trademarks or trademarks of EMC Corporation in the U.S. and/or other countries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners.

EMC Corporation

CONTACT: Jenn McManus-Goode, RSA, The Security Division of EMC,
+1-781-515-6313, jennifer.mcmanus@rsa.com

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

Gameloft Signs Multi-Property Agreement With SEGA(R) Europe Ltd.

PARIS, May 6 /PRNewswire-FirstCall/ -- - Sonic Unleashed(TM) Will be the First Game to be Launched on Mobile

Gameloft(R), a leading publisher and developer of video games on mobile phones and consoles, today announced a licensing agreement with SEGA(R) Europe Ltd. to develop, publish and distribute multiple mobile games based on SEGA brands. This is the first partnership between Gameloft and SEGA(R) Europe Ltd.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090506/345992 )

"We are confident this agreement will be the first step towards a long term partnership between Gameloft and SEGA," said Michel Guillemot, president, Gameloft. "SEGA's great brands coupled with Gameloft's long standing history of excellence in mobile game development can only result in an extraordinary mobile experience for consumers."

"With so much entertainment on the go, it seems natural to provide fans with a mobile game based on the much loved Sonic brand," said Gary Rowe, A&R Director, SEGA(R) Europe Ltd. "Gameloft's unwavering commitment to quality mobile games combined with a successful track record of bestsellers and unmatched worldwide distribution make them uniquely qualified to develop Sonic Unleashed(TM) for mobile."

The mobile game will be a high speed 2D side-scrolling adventure that stays true to what's made Sonic such a popular and critical success over the years, both through environment and gameplay. Featuring dual gameplay, players will be able to engage as the regular Sonic the Hedgehog or Werehog, a werewolf who comes out at night, moves slower, but possesses incredible strength. The mobile game will once again pit Sonic against Dr. Eggman, taking him across several continents to collect the chaos emeralds to save the world. Exclusive to the mobile game, Sonic Unleashed for mobile will feature a new personality with exciting new skills.

Sonic Unleashed(TM) for mobile is currently under development in Gameloft's studios and will be released in June 2009 in Europe, Middle East, Australia and New Zealand.

About Gameloft

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

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

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

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

About SEGA Europe Ltd.:

SEGA(R) Europe Ltd. is the European Distribution arm of Tokyo, Japan-based SEGA Corporation, and a worldwide leader in interactive entertainment both inside and outside the home. The company develops and distributes interactive entertainment software products for a variety of hardware platforms including PC, wireless devices, and those manufactured by Nintendo, Microsoft and Sony Computer Entertainment Europe. SEGA Europe's web site is located at http://www.sega-europe.com/.

For more information, please contact: Anne-Laure Descleves, Head of Communications Anne-Laure.descleves@gameloft.com +33(0)1-58-16-20-82 or visit http://www.gameloft.com/

Photo: http://www.newscom.com/cgi-bin/prnh/20090506/345992 Gameloft

CONTACT: For more information, please contact: Anne-Laure Descleves,
Head of Communications, Anne-Laure.descleves@gameloft.com,
+33(0)1-58-16-20-82

Last.fm Launches Personalized Visual Music Player Delivering Unparalleled, Multisensory Listening ExperienceEvolution of Online Music Combines Personalized Streaming Audio with Rich VisualsNew Player Offers Enhanced Music Experience to Users and New Video Advertising Platform for Sponsors

NEW YORK, May 6 /PRNewswire/ -- Last.fm today announced the launch of its Personalized Visual Music player, a reinvention of the site's original online radio experience that now combines personalized streaming radio stations with rich media visuals to deliver an unparalleled multisensory listening experience to its users and unique video advertising opportunities to brands and sponsors. Last.fm is part of the newly formed CBS Interactive Music Group, a division within CBS Interactive that brings together the Company's industry-leading digital music assets.

At the center of this new listening experience is the unique next-generation player that will offer users a continuous stream of artist images, music videos and other types of rich media of the artist being played, creating a multisensory experience way beyond any traditional online music streaming service.

Additionally, users can now create multi-genre stations by mixing music tags -- "80s" and "Soundtrack," or "French," "60s" and "Female" for example -- to fine-tune their music channel. Multi-artist radio enables users to launch stations based on combinations of their favorite bands and performers; listening to a music stream featuring the likes of Radiohead, Rachmaninoff and Rage Against the Machine is now a reality.

The new music player provides advertisers and sponsors with unique visual branding opportunities to efficiently reach Last.fm's highly engaged audience in a more immersive manner than that of audio advertising.

Martin Stiksel, Last.fm Co-Founder, said, "Personalized Visual Music shows what's possible with Last.fm's unparalleled music database and the innovative vision of our team. We were the first Web site to offer personalized streaming music, and this marks the next evolution of that service. Passionate music fans come to Last.fm for more than just the songs, and Visual Radio provides them with the enriching, full-featured music experience they demand. And the bold new music player allows brands and sponsors the opportunity to directly reach these users in a visually exciting way."

Felix Miller, Last.fm CEO and Co-Founder, said, "Last.fm prides itself on using music as the carrier medium for a much richer user experience, centered around a deep dive into an artist's creative output, personality, activity and live events. Last.fm users, who listen to a billion tracks a month, are able them to share this experience with their friends, and we tie it all together with a world-class discovery engine that continues to surprise and delight music fans across the Web. Today's launch marks another milestone for us on this journey of taking music listening to the next level."

Personalized Visual Music puts the best features of Last.fm in one place. The most accurate similar artist recommendations online, relevant concert listings targeted to your locality, unparalleled song and artist information drawn from a music database of over 45 million tracks -- the "greatest hits" features of the Last.fm music experience are instantly accessible the second you press play on your Last.fm radio station, direct from the Radio page.

Check out the evolution of online music at http://www.last.fm/listen

For screenshots and demo videos please go to http://static.last.fm/visualradio/web_skinned_playing.jpg or http://static.last.fm/visualradio.

About Last.fm

Founded in 2002, Last.fm is a CBS Corporation owned free global music platform. Last.fm offers music fans millions of tracks in every genre for free-on-demand and radio streaming thanks to partnerships with Universal, EMI, Sony BMG, CD Baby, independent aggregators The Orchard and IODA, and more than 280,000 independent artists and labels -- without needing to register or download software. Last.fm can intelligently recommend its 30 million monthly users new songs, artists, local concerts and even other members based on their musical tastes. Last.fm also supports unsigned artists by offering them an unprecedented Artist Royalty program through which they can earn revenue directly from Last.fm every time their music is streamed. Learn more about Last.fm at http://www.last.fm/.

About CBS Interactive Music Group

The CBS Interactive Music Group, a division within CBS Interactive Inc., is an industry-leading digital music group comprised of over 100 CBS RADIO music Web site, the world's number one internet radio service, which powers AOL Radio and Yahoo's Launchcast Radio as well as the leading global music discovery site, Last.fm. The CBS Interactive Music Group provides users with more content and community around their favorite music and reaches more than 40 million unique monthly users worldwide. CBS Corporation is the parent company of CBS Interactive, Inc.

Last.fm

CONTACT: Katie Gunion, +1-212-975-8009, katie.gunion@cbs.com

Web Site: http://www.last.fm/listen

Enable Holdings, Inc. Announces Its In-House Creative Team Wins Atlanta Interactive Marketing Association Award for 'Best Display Advertising Campaign'Asset Recovery Leader Receives Prestigious Advertising Award

CHICAGO, May 6 /PRNewswire-FirstCall/ -- Enable Holdings, Inc. (OTC Bulletin Board: ENAB), the leading asset recovery solutions company for the world's most trusted brands, today announced its in-house creative team in collaboration with AdByNet media placement agency has been awarded "Most Effective Display Advertising Campaign of the Year" by the Atlanta Interactive Marketing Association (AiMA) for a display ad campaign for Apple iPods sold on Enable Holdings' online auction sales channel uBid.com.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080814/AQTH536LOGO)

The Enable Holdings/AdByNet team won the award while being considered among well respected interactive marketing and advertising firms such as Ogilvy, DDBO, and 360i.

"We're honored to be recognized among industry leading agencies and we're absolutely thrilled to be selected by AiMA as their winning campaign," said David Gardner, Director of Enable Holdings' Web Products & Marketing.

The Atlanta Interactive Marketing Agency Awards recognize the interactive marketing industry's most strategic thinkers and talented designers. These industry leaders were featured at the Awards dinner at Fernbank's IMAX Theater on Thursday, April 30th in Atlanta, GA.

For more information please visit http://www.enableholdings.com/. About Enable Holdings, Inc.

Enable Holdings, Inc. is a leading asset recovery solutions company for the world's most trusted brands. Enable Holdings connects brand names with excess inventory solution needs to customers through its multi-channel asset-recovery solution that includes online auction platform uBid.com, fixed-price online commerce solution RedTag.com, offline excess inventory solution RedTag Live!, business-to-business solution Dibu Trading Corporation, and upcoming private auction software solution Commerce Innovations.

Enable Holdings' comprehensive solution set efficiently matches sellers and buyers through its various commerce solutions. Enable Holdings has helped thousands of businesses sell over $2 Billion of excess inventory over the past 10 years and has saved consumers hundreds of millions of dollars in the process.

SEC Filings and Forward-Looking Statements

Additional information about Enable Holdings, Inc. is in the company's annual report on Form 10-K, filed with the Securities and Exchange Commission.

Certain statements made in this release 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, including statements using terminology such as "anticipate," "believe," "estimate," "expect," "intend," "may," "could," "possible," "plan," "project," "should," "will," "forecast," and similar words or expressions. Enable Holdings, Inc. intends that all forward-looking statements be subject to the safe harbor provisions of the Private Securities Litigation Reform Act. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business of Enable Holdings, Inc. and the industries and markets in which Enable Holdings, Inc. operates. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by these forward-looking statements. Factors which may affect the forward looking statement identified above and Enable Holdings, Inc.'s business, financial condition and operating results generally include the effects of adverse changes in the economy, reductions in consumer spending, declines in the financial markets and the industries in which Enable Holdings, Inc. and its partners operate, adverse changes affecting the Internet and e-commerce, the ability of Enable Holdings, Inc. to develop and maintain relationships with strategic partners and suppliers and the timing of its establishment or extension of its relationships with strategic partners, the ability of Enable Holdings, Inc. to timely and successfully develop, maintain and protect its technology and product and service offerings and execute operationally, the ability of Enable Holdings, Inc. to attract and retain qualified personnel, the ability of Enable Holdings, Inc. to successfully integrate its acquisitions of other businesses, if any, and the performance of acquired businesses. Enable Holdings, Inc. expressly disclaims any intent or obligation to update these forward-looking statements, except as otherwise specifically stated by Enable Holdings, Inc.

Photo: http://www.newscom.com/cgi-bin/prnh/20080814/AQTH536LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com/ Enable Holdings, Inc.

CONTACT: Ryan Calverley , Press Officer of Enable Holdings, Inc.,
+1-773-272-4414 , Ryan.Calverley@enableholdings.com

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

Gameloft signe un accord de partenariat multi-jeux avec SEGA(R) Europe Ltd.

PARIS, May 6 /PRNewswire/ --

- Sonic Unleashed(TM) sera le premier jeu à être lancé sur mobile.

Gameloft(R), leader sur le marché de l'édition et du développement de jeux vidéo sur mobiles et consoles, a annoncé aujourd'hui la signature d'un accord de partenariat avec SEGA(R) Europe Ltd. dans le but de développer, éditer et distribuer plusieurs jeux mobile SEGA. C'est le premier partenariat du genre entre Gameloft et SEGA(R) Europe Ltd.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090506/345992 )

"Nous sommes convaincus que cet accord est la première étape vers un partenariat à long terme entre Gameloft et SEGA", a annoncé Michel Guillemot, Président de Gameloft. "Cette grande marque qu'est SEGA, associée à l'excellence de Gameloft dans le développement de jeux mobile, et ce depuis des années, ne peut qu'être bénéfique pour le consommateur."

"Dans un monde du divertissement qui ne cesse d'évoluer, il nous a semblé tout à fait naturel d'offrir aux fans un jeu mobile basé sur ce personnage tellement connu qu'est Sonic", a annoncé Gary Rowe, Directeur A&R chez SEGA(R) Europe Ltd. "La volonté très forte de Gameloft de faire des jeux mobile de qualité associée au nombre considérable de best-sellers qu'ils ont sortis ces dernières années et à leur diffusion mondiale inégalée fait de cette marque la seule et unique capable de développer Sonic Unleashed(TM) sur mobile."

Le jeu mobile sera une aventure en 2D de type "jeu de plateforme" très fidèle à ce qui a fait le succès et la réputation de Sonic depuis des années, que ce soit dans les graphismes ou dans la jouabilité. Grâce à une double jouabilité, les joueurs pourront à la fois incarner Sonic le hérisson et Werehog, une sorte de hérisson-garou qui sort la nuit, se déplace plus lentement, mais possède une force surhumaine. Le jeu mobile mettra une nouvelle fois en scène Sonic contre le Dr Robotnik, l'emmenant sur différents continents à la recherche des Chaos Emeralds qui sauveront le monde. Exclusif sur mobile ! Sonic Unleashed sur mobile vous fera découvrir la nouvelle personnalité du personnage et ses nouveaux talents époustouflants.

Sonic Unleashed(TM) sur mobile est actuellement en développement dans les studios de Gameloft et sortira en juin 2009 en Europe, au Moyen-Orient, en Australie et en Nouvelle-Zélande.

About Gameloft

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

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

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

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

About SEGA Europe Ltd.:

SEGA(R) Europe Ltd. is the European Distribution arm of Tokyo, Japan-based SEGA Corporation, and a worldwide leader in interactive entertainment both inside and outside the home. The company develops and distributes interactive entertainment software products for a variety of hardware platforms including PC, wireless devices, and those manufactured by Nintendo, Microsoft and Sony Computer Entertainment Europe. SEGA Europe's web site is located at http://www.sega-europe.com.

Pour plus d'informations, veuillez contacter :

Anne-Laure Descleves, Head of Communications - Anne-Laure.descleves@gameloft.com

+33-(0)1-58-16-20-82 ou visitez http://www.gameloft.com

Suivez nous sur https://twitter.com/Gameloft_France

Gameloft

Pour plus d'informations, veuillez contacter : Anne-Laure Descleves, Head of Communications - Anne-Laure.descleves@gameloft.com, +33-(0)1-58-16-20-82 ou visitez http://www.gameloft.com, Suivez nous sur https://twitter.com/Gameloft_France

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News archive of November 2009
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