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IRIDEX Reports First Quarter 2009 Financial Results

MOUNTAIN VIEW, Calif., May 14 /PRNewswire-FirstCall/ -- IRIDEX Corporation today reported financial results for the first quarter of 2009 ended April 4, 2009.

For the first quarter of 2009 the Company recorded a net profit of $0.2 million or $0.03 per diluted share compared to a net loss of $0.9 million or $0.10 per diluted share in the first quarter of 2008. Revenue for the first quarter of 2009 was $10.7 million, a 6.4% decrease from the $11.5 million reported for the first quarter of 2008.

Ophthalmology revenues were $7.5 million in the first quarter of 2009 consistent with $7.5 million for the comparable period in 2008. Ophthalmology recurring revenues, comprised of consumable products and service were $4.4 million for the first quarter of 2009, up 6.7% from $4.2 million for the first quarter 2008.

Total Aesthetics revenues were $3.2 million in the first quarter of 2009 compared with $3.9 million in the comparable period of 2008, a decrease of 18.9%.

Gross profit for the first quarter of 2009 was $5.0 million, compared with $4.8 million for the first quarter of 2008. Gross margins were 47.0% and 41.9% for the first quarter of 2009 and 2008, respectively, an improvement of 5.1% of revenues. Operating expenses for the first quarter 2009 were $4.7 million compared with $5.5 million for 2008, or 43.6% and 48.3% of revenues, respectively.

"Returning to profitability given the current distressed economic environment represents a major accomplishment for the company," stated Mr. Theodore A. Boutacoff, President and CEO. "This is the first quarter that we have been profitable on an operating income level since the fourth quarter of 2005. Keys to achieving profitability during the quarter were improvement in our gross margins to 47% of revenues and managing our operating expenses exceptionally well.

"Our profitable performance during the first quarter reflects steady progress towards successfully implementing our strategic objectives," Mr. Boutacoff continued, "which are: continuing to manage the Company to be cash flow positive while driving profitability; putting the majority of our focus on our Ophthalmology business and looking to invest in growth opportunities for Ophthalmology.

"During the first quarter our financial strength continued to improve with $0.9 million in cash generated from operations which allowed us to increase our cash balance and at the same time start reducing our bank debt; as a result we now have cash in excess of our debt," continued Mr. Boutacoff. "We believe our strategy of continuing to focus on our Ophthalmology business is bearing fruit. Our Ophthalmology recurring revenues have grown quarter over comparable quarter even in these tough times. Furthermore, we announced that the first shipment of the IQ 577, our high-power, true yellow (577 nm wavelength) laser system for use by ophthalmologists was shipped in April for commercial sale, and we see the addition of the IQ 577 to our Ophthalmology product line as reinforcement of the IRIDEX brand for high quality technically advanced Ophthalmology products."

Cash and cash equivalents were $5.7 million as of April 4, 2009, up from $5.3 million in January 3, 2009, while bank debt was $5.5 million as of April 4, 2009, down from $6.0 million as of January 3, 2009.

Conference Call

IRIDEX management will conduct a conference call later today, Thursday, May 14, 2009 at 5:00 p.m. Eastern Time. Interested parties may access the live conference call via telephone by dialing (877) 941-9205 (U.S.) or (480) 629-9041 (International) and quoting Conference ID 4075884, or by visiting the Company's website at http://www.iridex.com/. A telephone replay will be available beginning on Thursday, May 14, 2009 through Thursday, May 21, 2009 by dialing (800) 406-7325 (U.S.) or (303) 590-3030 (International) and entering Access Code 4075884. In addition, later today an archived version of the webcast will be available on the Company's website at http://www.iridex.com/.

About IRIDEX

IRIDEX Corporation is a leading worldwide provider of therapeutic based laser systems, consumable laser probes and delivery devices used to treat eye diseases in ophthalmology and skin conditions in the aesthetics market. IRIDEX products are sold in the United States through a direct sales force and internationally through a combination of a direct sales force and a network of approximately 100 independent distributors into 107 countries. For further information, visit the Company's website at http://www.iridex.com/.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Act of 1934, as amended, relating to the Company's financial stability, growth strategy and prospects. Please see a detailed description of these and other risks contained in our Annual Report on Form 10-K for the fiscal year ended January 3, 2009 filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and will not be updated.

IRIDEX Corporation Condensed Consolidated Statements of Operations (In thousands, except pet share data) (unaudited) Three Months Ended April 4, March 29, 2009 2008 ---- ---- Revenues $10,736 $11,474 Cost of revenues 5,688 6,669 ----- ----- Gross profit 5,048 4,805 ----- ----- Operating expenses: Research and development 841 1,025 Sales and marketing 2,351 2,613 General and administrative 1,493 1,905 ----- ----- Total operating expenses 4,685 5,543 ----- ----- Income (loss) from operations 363 (738) Interest and other expense, net (139) (154) ---- ---- Income (loss) before income taxes 224 (892) Provision for income taxes - - --- --- Net income (loss) $224 $(892) ==== ===== Net income (loss) per share - basic and diluted $0.03 $(0.10) ===== ====== Shares used in computing net income (loss) per share - basic and diluted 8,825 8,824 ===== ===== IRIDEX Corporation Condensed Consolidated Balance Sheets (In thousands) (Unaudited) April 4, January 3, 2009 2009 ---- ---- Assets (unaudited) ------ Current Assets: Cash and cash equivalents $5,662 $5,307 Accounts receivable, net 7,809 8,199 Inventories, net 11,164 11,644 Prepaids and other current assets 516 540 --- --- Total current assets 25,151 25,690 Property and equipment, net 710 832 Other intangible assets, net 1,394 1,474 Other long term assets 310 229 --- --- Total assets 27,565 28,225 ====== ====== Liabilities and Stockholders' Equity ------------------------------------ Current Liabilities: Accounts payable $1,951 $2,415 Bank line of credit 5,477 6,000 Accrued compensation 1,823 1,729 Accrued expenses 2,151 2,249 Accrued warranty 1,294 1,345 Deferred revenue 2,733 2,741 Bank term loan - - - - Total current liabilities 15,429 16,479 ------ ------ Stockholders' Equity: Convertible preferred stock 5 5 Common Stock 89 89 Additional paid-in capital 39,244 39,105 Accumulated other comprehensive loss (165) (192) Treasury stock, at cost (430) (430) Accumulated deficit (26,607) (26,831) ------- ------- Total stockholders' equity 12,136 11,746 ------ ------ Total liabilities and stockholders' equity $27,565 $28,225 ======= =======

IRIDEX Corporation

CONTACT: Jim Mackaness, Chief Financial Officer of IRIDEX Corporation,
+1-650-940-4700

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

Authentidate Holding Corp. Reports Fiscal 2009 Third Quarter Results

BERKELEY HEIGHTS, N.J., May 14 /PRNewswire-FirstCall/ -- Authentidate Holding Corp. , a worldwide provider of secure Health Information Exchange and workflow management services, today announced financial results for the fiscal 2009 third quarter ended March 31, 2009.

Operating highlights for the third quarter of fiscal 2009: -- Three new client agreements announced for Inscrybe Healthcare, including Total e-Medical, UroMed and SuperCare -- Announced the termination of merger agreement with Parascript -- Company repurchases 547,000 shares of common stock -- Members of the management team and board of directors purchased approximately one million shares of common stock

"Our financial results in the third quarter of 2009 reflect further revenue growth and a lower net loss. These improved results are attributable to new and existing customers ramping up their usage of our Inscrybe Healthcare services and certain cost cutting measures implemented in 2008," stated Ben Benjamin, President of Authentidate. "During the quarter we have seen positive results from our marketing efforts and announced three new client agreements, all of which are in the process of being implemented. We have also seen other clients expand their use of our services through the addition of new modules during the fiscal year."

Mr. Benjamin continued, "During the fiscal third quarter we made significant progress with new initiatives, which we previously announced in early April. These initiatives include our arrangement with Nortel and our telehealth joint venture, ExpressMD. We anticipate revenue from the Nortel partnership to start soon and revenue from sales of ExpressMD's system and services to start in the fourth quarter of fiscal 2009. These initiatives allow Inscrybe Healthcare to address new, large markets within the healthcare industry without requiring major investments in development."

Total revenue for the three months ended March 31, 2009 was approximately $2,015,000 compared to $1,683,000 for the same period last year. These results reflect an increase of approximately 31% in U.S. revenues and approximately 13% from our German operations from new customers and increases in transaction volume. Compared to the second quarter of fiscal 2009, total revenues increased approximately 26% reflecting the timing of contract awards and an increase in transaction volume during the current quarter.

Net loss for the third quarter of fiscal 2009 decreased to $2,095,000, or $0.06 per share, compared to $3,119,000, or $0.09 per share, for the same period last year. The net loss for the prior year period includes approximately $492,000, or $0.01 per share, for accrued severance and professional service expenses.

Total revenue for the nine months ended March 31, 2009 increased 21% to approximately $5,309,000 compared to $4,392,000 for the same period last year. These results reflect an increase of approximately 33% in U.S. revenues and growth from our German operations of approximately 14%, reflecting the same trends as the quarter.

Net loss for the nine months ended March 31, 2009 decreased to $7,095,000, or $0.21 per share, compared to $13,178,000, or $0.38 per share, for the same period last year. The net loss for the current period includes the write-off of approximately $900,000, or $0.03 per share, of deferred deal expenses related to the termination of the Parascript merger. The prior year period includes approximately $3,870,000, or $0.11 per share, for incremental legal fees, accrued severance and professional service expenses.

As of March 31, 2009, the company's cash and cash equivalents, and marketable securities totaled $9,173,000 and deferred revenue totaled $1,411,000.

"Although we cannot predict the revenue potential for our new Inscrybe customers or other business developments discussed above, we remain confident in the direction of the company as evidenced by the purchase in March, by certain members of the board of directors and management team, including myself, of 990,000 shares of the company's common stock from a large shareholder. This was in addition to the company purchasing 547,000 shares from the same investor," concluded Mr. Benjamin.

Conference Call

Management will host a conference call on Thursday, May 14, 2009, at 4:30 p.m. ET, to discuss the latest corporate developments and results. The dial-in number for callers in the U.S. is (888) 562-3356 and the dial in number for international callers is (973) 582-2700. The access code for all callers is 96244632. To access the live webcast, visit http://www.authentidate.com/, click the "About Us" link, followed by "Investor Relations" on the drop-down menu and then the "IR Events & Presentations" link. Following the conclusion of the call, the webcast will remain on the company's website for review within the fiscal year.

A dial-in replay of the call will be available through May 21, 2009. To access the replay, please dial (800) 642-1687 in the U.S. and (706) 645-9291 internationally, and then enter the access code 96244632.

About Authentidate Holding Corp.

Authentidate Holding Corp. is a worldwide provider of secure Health Information Exchange and workflow management services. The company's software and web-based services enable healthcare organizations and other enterprises to increase revenues, improve productivity and reduce costs by eliminating paper and manual work steps from clinical, administrative and other processes and enhancing compliance with regulatory requirements. The web-based services are delivered as Software as a Service (Saas) to customers. These solutions incorporate rules-based electronic forms, intelligent routing, transaction management, electronic signatures, identity credentialing, content authentication and automated audit trails. Both web and fax based communications are integrated into automated and trusted workflow solutions. The company has offices in the United States and Germany. In the United States we offer our patent pending content authentication technology in the form of the United States Postal Service(R) Electronic Postmark(R) (EPM).

For more information, visit the company's website at http://www.authentidate.com/.

Investor Contacts: Todd Fromer / Garth Russell KCSA Strategic Communications 212-896-1215 / 212-896-1250 tfromer@kcsa.com / grussell@kcsa.com

This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of the company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the company's ability to implement its business plan for various applications of its technologies, related decisions by the USPS, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the company or any other person that the objectives and plans of the company will be achieved.

Authentidate is a registered trademark of Authentidate Holding Corp. and Inscrybe is a trademark of Authentidate Holding Corp. All other trade names are the property of their respective owners.

This press release is available on the KCSA Strategic Communications Web site at http://www.kcsa.com/.

Authentidate Holding Corp. and Subsidiaries Condensed Consolidated Balance Sheets March 31, June 30, 2009 2008 ( in thousands, except per share data ) (unaudited) --------------------------------------- ----------- ---------- Assets Current assets Cash and cash equivalents $ 730 $ 4,493 Restricted cash 512 512 Marketable securities 8,443 6,375 Accounts receivable, net 1,029 1,287 Prepaid expenses and other current assets 1,142 671 ------- ------- Total current assets 11,856 13,338 Marketable securities - 3,950 Property and equipment, net 666 1,014 Note receivable, net of deferred gain of $2,000 - - Other assets Software development costs, net 2,347 2,533 Goodwill 7,341 7,341 Other assets 1,265 1,375 Assets held for sale 2,000 2,000 ------- ------- Total assets $ 25,475 $ 31,551 ======= ======= Liabilities and Shareholders' Equity Current liabilities Accounts payable and accrued expenses $ 1,977 $ 1,850 Deferred revenue 1,271 1,273 Other current liabilities 315 97 ------- ------- Total current liabilities 3,563 3,220 Long-term deferred revenue 140 140 ------- ------- Total liabilities 3,703 3,360 ------- ------- Commitments and contingencies Shareholders' equity Preferred stock $.10 par value; 5,000 shares authorized Series B, 28 shares issued and outstanding 3 3 Common stock, $.001 par value; 75,000 shares authorized, 34,191 and 34,537 issued and outstanding on March 31, 2009 and June 30, 2008, respectively 34 35 Additional paid-in capital 165,994 165,681 Accumulated deficit (144,153) (137,006) Accumulated other comprehensive loss (106) (522) ------- ------- Total shareholders' equity 21,772 28,191 ------- ------- Total liabilities and shareholders' equity $25,475 $31,551 ======= ======= Authentidate Holding Corp. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended Nine Months Ended March 31, March 31, --------- --------- (in thousands, except per share data) 2009 2008 2009 2008 --------------------- ---- ---- ---- ---- Revenues Software licenses and support $ 1,195 $ 1,059 $ 3,115 $ 2,740 Hosted software services 820 624 2,194 1,652 ------- ------- -------- -------- Total revenues 2,015 1,683 5,309 4,392 ------- ------- ------- -------- Operating expenses Cost of revenues 915 623 2,261 1,614 Selling, general and administrative 2,511 3,475 8,284 13,721 Product development 380 623 1,189 2,317 Depreciation and amortization 417 430 1,121 1,228 ------- ------- ------- ------- Total operating expenses 4,223 5,151 12,855 18,880 ------- ------- ------- ------- Operating loss (2,208) (3,468) (7,546) (14,488) Other income, net 113 349 451 1,310 ------- ------- ------- -------- Net loss $(2,095) $(3,119) $(7,095) $(13,178) ======= ======= ======= ======== Basic and diluted loss per share $ (0.06) $ (0.09) $ (0.21) $ (0.38) ======= ======= ======= ========

Authentidate Holding Corp.

CONTACT: Investor, Todd Fromer, +1-212-896-1215, tfromer@kcsa.com or
Garth Russell, +1-212-896-1250, grussell@kcsa.com, both of KCSA Strategic
Communications

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

Intrusion Inc. Announces First Quarter Results

RICHARDSON, Texas, May 14 /PRNewswire-FirstCall/ -- Intrusion Inc. (OTC Bulletin Board: INTZ), ("Intrusion") today announced financial results for the quarter ended March 31, 2008.

Revenue for the first quarter 2009 was $0.9 million, compared to $0.5 million for the first quarter 2008.

Intrusion's operating loss was $0.3 million in the first quarter 2009, compared to $0.9 million for the first quarter 2008.

Gross profit margin was 68% of revenue in the first quarter of 2009; compared to 61% in the first quarter 2008.

Intrusion's first quarter 2009 operating expenses were $0.9 million; compared to $1.2 in the first quarter 2008.

As of March 31, 2009, Intrusion reported cash and cash equivalents of $0.2 million, a working capital deficiency of $1.7 million and debt of $0.6 million.

"Revenue in the first quarter was reduced by slippage of contracts from the U.S. Government; however, since April 1, 2009, as previously reported, we have booked a total of $1,200,000 of new TraceCop orders from a U.S. Defense Prime Contractor. These new TraceCop orders are expected to produce revenue over the second and third quarters of 2009," stated G. Ward Paxton, President and CEO of Intrusion.

Intrusion's management will host its regularly scheduled quarterly conference call to discuss the Company's financial and operational progress at 4:00 P.M., CDT today. Interested investors can access the call at 1-800-399-2043 (if outside the United States, 1-706-634-5518). For those unable to participate in the live conference call, a replay will be accessible beginning today at 7:00 P.M., CDT until May 21, 2009 by calling 1-800-642-1687 (if outside the United States, 1-706-645-9291). At the replay prompt, enter conference identification number 98236051. Additionally, a live and archived audio webcast of the conference call will be available at http://www.intrusion.com/.

About Intrusion Inc.

Intrusion Inc. is a global provider of entity identification systems, regulated information compliance, data leak prevention, and data privacy protection and network intrusion prevention and detection products. Intrusion's product families include TraceCop(TM) for entity identification, the Compliance Commander(TM) for regulated information compliance, data leak prevention and data privacy protection, and Intrusion SecureNet for network intrusion prevention and detection. Intrusion's products help protect critical information assets by quickly detecting, protecting, analyzing and reporting attacks or misuse of classified, private and regulated information for government and enterprise networks. For more information, please visit http://www.intrusion.com/.

This release, other than historical information, may include forward-looking statements regarding future events or the future financial performance of the Company. Such statements include, without limitations, statements regarding future revenue growth and profitability, as well as other statements. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including but not limited to the following: the difficulties in forecasting future sales caused by current economic and market conditions, the effect of military actions on government and corporate spending on information security products, spending patterns of, and appropriations to, U.S. government departments, the impact of our cost reduction programs and our refocused product line, the difficulties and uncertainties in successfully developing and introducing new products in emerging markets, market acceptance of our products, the impact of our sustained losses on our ability to successfully operate and grow our business, our stock price and the recent loss of our Nasdaq listing, our ability to generate sufficient cash flow or obtain additional financing on acceptable terms in order to fund ongoing liquidity needs, the highly competitive market for our products, the effects of sales and implementation cycles for our products on our quarterly results, difficulties in accurately estimating market growth, the consolidation of the information security industry, the impact of changing economic conditions, business conditions in the information security industry, our ability to manage acquisitions effectively, the impact of market peers and their products as well as risks concerning future technology and others identified in our Annual Report on Form 10-K, as amended, and other Securities and Exchange Commission filings. These filings can be obtained by contacting Intrusion Investor Relations.

Contact Michael L. Paxton, VP, CFO 972.301.3658, mpaxton@intrusion.com INTRUSION INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands except par value amounts) March 31, December 31, 2009 2008 ------------------------ ASSETS Current Assets: Cash and cash equivalents $174 $554 Accounts receivable 200 341 Inventories, net 16 20 Prepaid expenses 61 56 -------- -------- Total current assets 451 971 Property and equipment, net 152 169 Other assets 39 39 -------- -------- TOTAL ASSETS $642 $1,179 ======== ======== LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Loan payable to officer $630 $480 Accounts payable and accrued expenses 487 538 Deferred revenue 750 1,090 Dividends payable 234 187 -------- -------- Total current liabilities 2,101 2,295 Stockholders' Deficit: Preferred stock, $.01 par value: Authorized shares - 5,000 Series 1 shares issued and outstanding - 260 Liquidation preference of $1,396 as of March 31, 2009 918 918 Series 2 shares issued and outstanding - 460 Liquidation preference of $1,227 as of March 31, 2009 724 724 Series 3 shares issued and outstanding - 354 Liquidation preference of $824 as of March 31, 2009 504 504 Common stock, $.01 par value: Authorized shares - 80,000 Issued shares - 11,648 Outstanding shares - 11,638 116 116 Common stock held in treasury, at cost - 10 shares (362) (362) Additional paid-in capital 55,422 55,443 Accumulated deficit (58,602) (58,280) Accumulated other comprehensive loss (179) (179) -------- -------- Total stockholders' deficit (1,459) (1,116) -------- -------- TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $642 $1,179 ======== ======== INTRUSION INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands except per share amounts) Quarter ended Quarter ended March 31, March 31, 2009 2008 ------------------------------- Revenue $856 $462 Cost of revenue 276 179 ------------------------------- Gross profit 580 283 Operating expenses: Sales and marketing 264 371 Research and development 366 516 General and administrative 260 265 ------------------------------- Operating loss (310) (869) Interest expense, net (12) (6) ------------------------------- Loss before income taxes (322) (875) Income tax provision - - ------------------------------- Net loss (322) (875) Preferred stock dividends accrued (40) (40) ------------------------------- Net loss attributable to common stockholders $(362) $(915) =============================== Net loss per share attributable to common stockholders (basic and diluted) $(0.03) $(0.08) Weighted average shares outstanding - Basic and Diluted 11,638 11,638

Photo: http://www.newscom.com/cgi-bin/prnh/20030703/INTRUSIONLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Intrusion Inc.

CONTACT: Michael L. Paxton, VP, CFO of Intrusion Inc., +1-972-301-3658,
mpaxton@intrusion.com

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

Frost & Sullivan Recognizes Verigy for Leadership in the Semiconductor Automated Test Equipment Market

MOUNTAIN VIEW, Calif., May 14 /PRNewswire/ -- Based on its recent analysis of the semiconductor automated test equipment (ATE) market, Frost & Sullivan recognizes Verigy, Ltd. with the 2009 North American Frost & Sullivan Award for Product Innovation of the Year for its latest offering, the V6000 product family. The V6000 offers testing capabilities for both dynamic random access memory (DRAM) and flash on a single ATE platform.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO)

Verigy's V6000 is available in three versions - V6000e, V6000 WS, and V6000 FT - for diverse applications. These platforms can help customers switch between memory types, eliminating the need for separate memory testers.

"The V6000 WS 'Wafer Sort' memory test system offers low cost of test (COT) and provides high parallelism, 300mm one touch-down DRAM, not or (NOR) and not and (NAND) test, and good scalability performance," says Frost & Sullivan Industry Manager, Sujan Sami. "The V6000 FT 'Final Test' is a unique platform architecture that offers memory test capability in the fields of DRAM, flash, and multi-chip packaged device (MCP)."

The V6000 family meets the end-user demands of cost efficiency, data rate, and DRAM/flash analysis capabilities. Its systems also offer various pin counts, frequencies, and power supplies, making them very flexible. Moreover, the V6000e, with the help of Active Matrix, helps improve yield and reduces the cost per pin by approximately 50 percent.

The Active Matrix technology, which supports all three V6000 variants, offers high scalability and flexibility. It delivers 18000 I/O pins, 4000 programmable power supplies, and minimum cable length connecting to pin electronics. Further, the V6000 provides scalable AC performance at 140, 280, 560, and up to 880 Mbps.

"Verigy has a strong presence across the globe, with Korea, China, Japan, the United States, and South East Asia being its main geographic targets," notes Sami. "By working closely with customers, Verigy understands their needs and requirements, which leads to noteworthy hardware and software introductions."

These product innovations are key for survival in a market experiencing a downturn. Verigy is well positioned to ride out the recession, since its V6000 offers a host of benefits, including identifying failures and assisting in repairing and improving the device being tested.

Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in new products and technologies within its industry. The recipient company has shown innovation by launching a broad line of emerging products and technologies.

Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.

About Verigy, Ltd.

Verigy provides advanced semiconductor test systems and solutions used by leading companies worldwide in design validation, characterization, and high-volume manufacturing test. Verigy offers scalable platforms for a wide range of system-on-chip (SoC) test solutions, and memory test solutions for flash, DRAM including high-speed memories, as well as multi-chip packages (MCP). Advanced analysis tools accelerate design debug and yield ramp processes for Verigy's customers. Additional information about Verigy can be found at http://www.verigy.com/.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com/.

Contact: Jake Wengroff 210.247.3806 jake.wengroff@frost.com

Photo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Frost & Sullivan

CONTACT: Jake Wengroff of Frost & Sullivan, +1-210-247-3806,
jake.wengroff@frost.com

Web Site: http://www.verigy.com/
http://www.frost.com/

Pro-Dex, Inc. Announces Fiscal Third Quarter 2009 ResultsCompany Reports $3 million or $(0.31) per share loss, consisting of $(0.04) from operations, $(0.07) from impairment of patents, and $(0.20) from an allowance for tax assets.

IRVINE, Calif., May 14 /PRNewswire-FirstCall/ -- PRO-DEX, INC. today announced financial results for its third fiscal quarter, ending March 31, 2009.

Consolidated net sales for the fiscal third quarter of 2009 decreased 39% to $4.6 million compared to $7.6 million reported for the fiscal third quarter of 2008. A significant contributor to the decrease was an inventory build of a single product to a major medical customer during the third quarter of last fiscal year. These sales were not repeated in the third quarter of fiscal 2009 as the customer returned to a steadier, but lower shipping rate. The Company also experienced a substantial decrease in industrial motion control sales during the third quarter of 2009 as that industry, and specifically semiconductor equipment manufacturers, has been negatively impacted by the current economic climate. Aerospace sales were adversely affected by the timing of deliveries on certain contracts that had lower requirements in this quarter. In addition, the Company has been exiting the sale of low-profit, non-differentiated products throughout 2009.

Mark P. Murphy, the Company's President and Chief Executive Officer, commented, "Operationally, we continue to be challenged by our top line. Medical products remain flat over all three quarters of this year, but down from last year due to customers' inventory fluctuations. Motor sales had a soft quarter as we predicted. Our most systemic challenge is the precipitous decline in our motion control product sales, driven primarily by the very sluggish semiconductor equipment market. Given the historical length of these cycles, we are not counting on a rebound to previous motion control sales levels in the next quarter, although we are cautiously optimistic that spending patterns are at or near a bottom. We are doing everything possible to accelerate revenues in all three product lines and I'm encouraged that our backlog remains strong at $11.6 million as of March 31, 2009, up from $9.6 million a year earlier."

Consolidated gross profit for the quarter ended March 31, 2009 decreased 50% from the same quarter in the previous year to $1.1 million, a 24% gross profit margin, compared to gross profit of $2.2 million or 29% gross profit margin last year. Gross profit margins were lower than the same quarter in the previous year due to lower volumes and an unfavorable sales mix that included fewer high margin industrial and medical products. The negative effects of the unfavorable sales mix were partially offset by reduced warranty expense attributable to product improvements in the last six months, which reduced the rate of expected returns as well as the per unit repair cost.

Operational selling, general and administrative costs (excluding the impairment charge discussed below) declined due to cost saving measures implemented earlier this year. While the cost reductions were effective in shoring up the Company's medical products profitability, they did not anticipate nor correct for the motion control product shipment declines.

The net loss for the third fiscal quarter 2009 was $3.0 million or $(0.31) per basic and diluted share (based on 9.7 million shares) compared to net income of $99,000 or $0.01 per share on a basic and diluted basis for the three months ended March 31, 2008 (based on 9.7 and 9.9 million shares, respectively). Included in this quarter's net loss were two non-recurring, non-cash charges:

-- A pre-tax charge of approximately $1.0 million for impairment of certain patents purchased in 2005. Management continues to investigate strategic options to sell, license, or form a joint venture surrounding this product with an entity that possesses a broader distribution channel. -- An income tax charge of approximately $2.0 million related to a valuation allowance on previously accumulated tax benefits. The Company completed an analysis of its historical taxable earnings, which were decreased by the impairment charge above, and determined a requirement to reserve $2.0 million against this asset. This action does not eliminate any of the underlying value of the tax benefits.

Mr. Murphy commented on these two charges, "We decided to write-down the value of the patents based on a detailed analysis of several scenarios. We have stopped actively marketing this product and we are looking for a company with a direct dental distribution channel which might be interested in access to the technology through product purchases, licenses, acquisition, joint venture, or other means. Management remains committed to optimizing the value of this technology for its shareholders, and will continue to pursue any opportunity to accomplish that end. The tax asset write-off was precipitated by the impairment charge, since that charge substantially reduced our historical taxable earnings. While we believe that future profitability will eventually allow us to use these tax benefits, we do not have the historical evidence to support that position."

Mr. Murphy continued, "These two charges are significant and are not taken lightly. At the same time, it is important to keep in mind that they are non-cash, non-operating, and non-recurring charges that do not impact the company's ability to generate either earnings or cash in the future. Accordingly, it is the $(0.04) per share operating loss that has my greatest attention. The other key metric is that we generated $896,000 in operating cash during the third quarter. This, along with our strong backlog, communicates volumes about the Company's underlying health and stability."

The substantial loss reported by the Company has resulted in violations of certain covenants related to the line of credit issued by Wells Fargo Bank. While the bank reviews the situation to gain a better understanding, it has issued a letter of forbearance concerning the violations and reduced the amount of available credit from $4 million to $1 million as of May 12, 2009. The Wells covenant violations in turn create a violation of covenants under the Company's Union Bank mortgage on the Carson City property. Union has issued a waiver of such violations.

Mr. Murphy commented, "Wells Fargo's actions are understandable, given the significance of the numbers and its need to fully understand them. Our $4 million line was high relative to our historical needs as we have not used more than $1 million for our operating requirements. We currently have zero drawn against the line, so the bank's actions are not expected to impact our operations."

Mr. Murphy concluded, "One final note is that Dick Corrington, our V.P. of Engineering has accelerated his planned retirement to become effective May 29, 2009. I want to publicly acknowledge and thank Dick for his contribution to Pro-Dex. Given our current financial circumstances, we will likely leave this position open at the current time. There is no question that we currently face our share of adversity. With our revenues being challenged in all product lines, an operational loss this quarter, and some very large balance sheet write-offs, this is clearly a trying time for us. Attention and intention is being applied to every issue we face. We are doing everything prudent to save costs and improve our top line. In the meantime, we have a robust backlog, a shrinking cost structure, and strong cash production. We will continue to navigate with fiscal conservatism toward our ultimate success."

Pro-Dex completed the March 31, 2009 quarter with cash and cash equivalents of $504,000 compared to $517,000 as of June 30, 2008. During the quarter, Pro-Dex paid the remaining $271,000 balance due on the term note relating to the acquisition of its Astromec subsidiary, fully retiring the indebtedness. This note was paid approximately one year ahead of its scheduled due date. Net debt was reduced to $3.0 million at the end of the quarter, compared to $3.8 million at the end of Q2.

Teleconference Information:

Investors and all others are invited to listen to a conference call discussing the third fiscal quarter 2009 results, today at 4:30 p.m. Eastern Time. The call is scheduled to be broadcast live over the Internet and may be accessed by visiting the Company's website at http://www.pro-dex.com/ or directly at http://www.videonewswire.com/event.asp?id=59009. Mark Murphy, Chief Executive Officer and Jeff Ritchey, Chief Financial Officer, plan to host the call. If you would like to join the call, dial (877) 356-8625 U.S. and (706) 634-9779 International, conference I.D. 99525321. You may identify the call as the Pro-Dex Third Quarter Earnings Call. An online archive of the broadcast will be available within two hours of the completion of the call and will be accessible on the Company's website for 30 days. Additionally, a telephone replay will be available 2 hours after the call for 48 hours by dialing (800) 642-1687 U.S. or (706) 645-9291 for international callers, conference I.D. number 99525321.

Pro-Dex, Inc., with operations in Irvine, California, Beaverton, Oregon and Carson City, Nevada, provides a pathway to product solutions rarely envisioned by customers. A unique blend of creativity and systemic discipline enables us to develop and manufacture innovative designs that powerfully complete a customer's strategic product offering. Pro-Dex leverages extraordinary human collaboration and superior technical capability to power and control products used in medical, aerospace, military, research and industrial applications requiring high precision in harsh environments. With expertise in multi-axis motion control, fractional horsepower motors and rotary drive systems, we identify and create unexpected value for our customers.

For more information, visit the Company's website at http://www.pro-dex.com/.

Statements herein concerning the Company's plans, growth and strategies may include 'forward-looking statements' within the context of the federal securities laws. Statements regarding the Company's future events, developments and future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. The Company's actual results may differ materially from those suggested as a result of various factors. Interested parties should refer to the disclosure concerning the operational and business concerns of the Company set forth in the Company's filings with the Securities and Exchange Commission.

(tables follow) PRO-DEX, INC. and SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2009 June 30,2008 (unaudited) (audited) ASSETS Current assets: Cash and cash equivalents $504,000 $517,000 Accounts receivable, net of allowance for doubtful accounts of $109,000 at March 31, 2009 and $144,000 at June 30, 2008 2,039,000 2,842,000 Other current receivables - 205,000 Inventories 3,754,000 5,101,000 Prepaid expenses 159,000 214,000 Prepaid income taxes 735,000 860,000 Deferred income taxes - 1,176,000 Total current assets 7,191,000 10,915,000 Property, plant, equipment, net 6,114,000 6,470,000 Other assets: Goodwill 2,997,000 2,997,000 Intangibles - Patents, net 150,000 1,221,000 Other 87,000 68,000 Total other assets 3,234,000 4,286,000 Total assets $16,539,000 $21,671,000 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Credit Line $- $2,000,000 Accounts payable 1,052,000 1,736,000 Accrued expenses 1,398,000 2,053,000 Income taxes payable - 114,000 Current Portion Patent deferred payable 45,000 - Current portion of term note - 396,000 Current portion of TI loan 400,000 - Current portion of real estate loan 32,000 30,000 Total current liabilities 2,927,000 6,329,000 Long-term liabilities: TI Loan 1,467,000 - Real estate loan 1,536,000 1,560,000 Patent deferred payable - 44,000 Deferred income taxes 150,000 290,000 Deferred rent 200,000 150,000 Total long-term liabilities 3,353,000 2,044,000 Total liabilities 6,280,000 8,373,000 Shareholders' equity: Common shares; no par value; 50,000,000 shares authorized; 9,709,776 shares issued and outstanding March 31, 2009 9,803,366 shares issued and outstanding June 30, 2008 16,554,000 16,545,000 Accumulated deficit (6,295,000) (3,247,000) Total shareholders' equity 10,259,000 13,298,000 Total liabilities and shareholders' equity $16,539,000 $21,671,000 PRO-DEX, INC. and SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three months ended March 31 (unaudited) 2009 2008 Net sales $4,608,000 $7,614,000 Cost of sales 3,497,000 5,388,000 Gross profit 1,111,000 2,226,000 Operating expenses: Selling 315,000 397,000 General and administrative expenses 781,000 892,000 Impairment of intangible asset 997,000 - Research and development costs 686,000 729,000 Total operating expenses 2,779,000 2,018,000 (Loss) income from operations (1,668,000) 208,000 Other income (expense): Other income, net - (45,000) Royalty income - 5,000 Interest (expense), net (56,000) (37,000) Total (56,000) (77,000) (Loss) income before provision for income taxes (1,724,000) 131,000 Provision for income taxes (673,000) 32,000 Allowance for deferred tax asset 1,960,000 - Total Provision for income taxes 1,287,000 32,000 Net (Loss) income $(3,011,000) $99,000 Net (loss) income per share: Basic $(0.31) $0.01 Diluted $(0.31) $0.01 Weighted average shares outstanding - basic 9,684,071 9,718,366 Weighted average shares outstanding - diluted 9,684,071 9,935,358 PRO-DEX, INC. and SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Nine months ended March 31 (unaudited) 2009 2008 Net sales $15,501,000 $19,728,000 Cost of sales 10,703,000 12,996,000 Gross profit 4,798,000 6,732,000 Operating expenses: Selling 988,000 1,072,000 General and administrative expenses 2,461,000 2,492,000 Impairment of intangible asset 997,000 - Research and development costs 2,083,000 1,939,000 Total operating expenses 6,529,000 5,503,000 (Loss) income from operations (1,731,000) 1,229,000 Other income (expense): Other income, net - 3,000 Royalty income 9,000 25,000 Interest (expense), net (176,000) (119,000) Total (167,000) (91,000) Income (loss) before provision for income taxes (1,898,000) 1,138,000 Provision for income taxes (811,000) 409,000 Allowance for deferred tax asset 1,960,000 - Total Provision for income taxes 1,149,000 409,000 Net income (loss) $(3,047,000) $729,000 Net Income (loss) per share: Basic $(0.31) $0.08 Diluted $(0.31) $0.07 Weighted average shares outstanding - basic 9,722,408 9,718,366 Weighted average shares outstanding - diluted 9,722,408 9,928,128 PRO-DEX, INC. and SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Nine months ended March 31 (unaudited) 2009 2008 Cash Flows from Operating Activities: Net (loss) income $(3,047,000) $729,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 611,000 364,000 Impairment of intangible asset 997,000 - Stock based compensation 129,000 157,000 (Recovery) of provision for doubtful accounts (35,000) (13,000) (Decrease) increase in deferred taxes (923,000) 43,000 Increase in deferred tax allowance 1,960,000 - Changes in: Decrease (increase) in accounts receivable 1,043,000 (48,000) Decrease (increase) in inventories 1,347,000 (91,000) Decrease (increase) in prepaid expenses 55,000 (247,000) (Increase) in other assets (20,000) (9,000) (Decrease) increase in accounts payable and accrued expenses (1,341,000) 1,287,000 (Decrease) increase in income taxes payable 64,000 (44,000) Net Cash provided by Operating Activities 840,000 2,128,000 Cash Flows From Investing Activities: Purchases of equipment and leasehold improvements (181,000) (1,798,000) Net Cash used in Investing Activities (181,000) (1,798,000) Cash Flows from Financing Activities: Net (payments) borrowing on line of credit (2,000,000) 200,000 Principal payments on term note (396,000) (187,000) Net Principal borrowing on TI Loan 1,866,000 - Principal payments on mortgage (23,000) (21,000) Principal payment on patent deferred payable - (196,000) Stock repurchases (119,000) - Net Cash used by Financing Activities (672,000) (204,000) Net (decrease) increase in Cash and Cash Equivalents (13,000) 126,000 Cash and Cash Equivalents, beginning of period 517,000 403,000 Cash and Cash Equivalents, end of period $504,000 $529,000 Supplemental Information Cash payments for interest $178,000 $154,000 Cash payments for income taxes $- $560,000

Pro-Dex, Inc.

CONTACT: CONTACT: Mark Murphy, Chief Executive Officer of Pro-Dex,
Inc., +1-949-769-3200; or Jeff Stanlis, Investor Relations of Hayden IR,
+1-602-476-1821, for Pro-Dex, Inc.

Web Site: http://www.pro-dex.com/

PEER 1 Reports Fiscal 2009 Third Quarter Results

VANCOUVER, May 14 /PRNewswire-FirstCall/ -- PEER 1 Network Enterprises, Inc. (TSX: PIX), a global online IT hosting provider, today announced the results for the three and nine months ended March 31, 2009. Unless otherwise noted, all amounts are stated in US dollars.

Selected financial data comparing the quarters ended March 31, 2009 and 2008:

- Revenue decreased 0.5% to $22.6 million from $22.8 million; - Gross profit decreased 10.6% to $9.2 million from $10.3 million; - Operating income decreased 36.5% to $2.6 million from $4.1 million; - EBITDA decreased 13.9% to $6.4 million from $7.4 million; - EBITDA margin decreased to 28.3% compared with 32.6%; and - Net income decreased 35.8% to $1.4 million from $2.2 million.

"We made significant progress on several strategic growth initiatives in the quarter including the launch of the first phase of our UK expansion, and the announcement of our new, multi-use data center in the greater Toronto area," said Fabio Banducci, President and CEO of PEER 1. "However, our third quarter results were weak and reflect the challenges a number of our customers are having in the current economic environment. Overall, the level of our sales activity and pipeline remain healthy, however, we did see increased levels of churn during the quarter, particularly at the lower end of dedicated hosting, as well as an increased number of hosting customers right sizing their server deployments, resulting in less monthly recurring revenue from these customers. We anticipate that these customers will expand their server deployments again as economic conditions improve.

"Results from this quarter also demonstrate the resiliency of PEER 1's business model as cash and cash equivalents increased by $2.5 million to $12.0 million compared to the previous quarter. The Company exits the quarter with record balance sheet strength and flexibility."

Review of the Three and Nine Months Ended March 31, 2009

Revenue for the three and nine months ended March 31, 2009 was $22.6 million and $69.8 million, decreasing by 0.5% and increasing by 5.8% respectively, compared with the same periods of the prior year. However, when adjusted for the effect of foreign exchange between the comparative periods, revenue grew 3.9% and 8.8% for the three and nine months ended March 31, 2009. On a sequential basis, revenue for the third quarter of 2009 decreased by 4.2% compared with $23.6 million for the second quarter. Overall, on a year-over-year basis, the decrease in revenue for this quarter is primarily attributable to the decreased value of the Canadian dollar against the US dollar for Canadian denominated sales.

Managed and dedicated hosting revenue for the three and nine months ended March 31, 2009 was $16.7 million and $51.0 million, increasing by 6.4% and 12.0% respectively, over the same periods in the prior year. The increase in dedicated hosting revenues for the three and nine month periods can be attributed to organic growth. On a sequential basis, dedicated and managed hosting services revenue for the third quarter decreased by 4.6%, compared with $17.5 million in the second quarter, as churn increased during the quarter and a number of customers right sized their deployments in response to economic conditions. However, while the monthly recurring revenue from certain customers decreased, they remain PEER 1 customers, and as economic conditions improve, management anticipates that these customers will return to their previous spending levels. Managed and dedicated hosting revenues are not impacted by foreign exchange effects, as all sales are denominated in US dollars.

Co-location revenue decreased to $2.9 million and $9.0 million for the three and nine months ended March 31, 2009, decreasing by 8.5% and 3.5% respectively, compared with the same periods of the prior year. The decreases in revenue are attributable to the decreased value of the Canadian dollar against the US dollar; partially offset by organic growth, which will be constrained until the build out of phase one at the new Toronto area data center is completed. When adjusted for the effect of foreign exchange between the comparative periods, co-location revenue grew by 5.6% and 5.9% respectively for the three and nine month periods ended March 31, 2009. On a sequential basis, co-location revenue for the third quarter of 2009 decreased by 1.6% compared with $3.0 million in the second quarter.

Bandwidth revenue for the three and nine months ended March 31, 2009 was $1.9 million and $6.3 million, decreasing by 26.3% and 15.1% respectively, compared with the same periods of the previous year. When adjusted for the effect of foreign exchange between the comparative periods, bandwidth revenue decreased by 11.3% and 5.2% respectively for the three and nine month periods ended March 31, 2009. On a sequential basis, bandwidth revenue for the third quarter of 2009 decreased by 6.8% compared with $2.0 million in the second quarter.

PEER 1's Canadian operations accounted for $4.1 million, or 17.9%, of the Company's overall revenue for the three months ended March 31, 2009 compared with $5.2 million, or 22.8%, for the same period in the previous year. For the nine months ended March 31, 2009, PEER 1's Canadian operations accounted for $13.2 million, or 18.9%, of the Company's overall revenue compared with $14.9 million, or 22.7%, for the same period in the previous year. These changes are primarily related to unfavorable foreign exchange effects of $1.0 million and $1.9 million respectively for the three and nine months ended March 31, 2009.

Cost of sales for the three months ended March 31, 2009 increased by 7.8% to $13.4 million compared with $12.4 million for the same period in the previous year. As a percentage of revenue, cost of sales was 59.2% for the three months ended March 31, 2009, and 54.6% for the three months ended March 31, 2008. For the nine months ended March 31, 2009, cost of sales increased by 7.6% to $39.3 million from $36.5 million for the same period in the previous year. Cost of sales as a percentage of revenue increased to 56.3% for the nine months ended March 31, 2009 from 55.4% for the nine months ended March 31, 2008.

Operating expenses for the three months ended March 31, 2009 increased by 6.5% to $6.6 million compared with $6.2 million for the corresponding period in the previous year. Operating expenses as a percentage of revenue were 29.3% for the three months ended March 31, 2009, compared with 27.4% for the same period in 2008. For the nine months ended March 31, 2009, operating expenses grew by 11.1% to $20.7 million compared with $18.6 million for the same period in 2008. Operating expenses as a percentage of revenue increased to 29.6% for the nine months ended March 31, 2009 from 28.2% for the same period in the previous year.

Investments made during the quarter to support future growth included $100,000 related to data center expansion, $223,000 related to the UK expansion, and $500,000 related to the full impact of head count increases to support product development, IT, marketing and sales. These ongoing investments are vital to positioning PEER 1 for growth once economic conditions improve.

As a result of decreased revenue, and the investments in growth described above, EBITDA for the three months ended March 31, 2009 decreased by 13.9% to $6.4 million, compared with $7.4 million for the three months ended March 31, 2008. On a sequential basis, EBITDA decreased by 16.0% compared with $7.6 million for the second quarter of 2009. EBITDA margin for the three months ended March 31, 2009 was 28.3%, compared with 32.6% for the corresponding period in 2008, and 32.2% for the second quarter of 2009.

Net income for the three months ended March 31, 2009 decreased 35.8% to $1.4 million, compared with $2.2 million for the corresponding period in 2008. On a sequential basis, net income decreased by 29.5% in the third quarter compared with $2.0 million for the second quarter of 2009. Earnings per share was $0.01 for the third quarter of 2009, compared with $0.02 for the third quarter of 2008, and $0.02 for the second quarter of 2009.

As at March 31, 2009, PEER 1 had cash and cash equivalents of $12.0 million, compared with $9.6 million at December 31, 2008, and $11.0 million at June 30, 2008.

The Company had positive working capital of $1.4 million at March 31, 2009, compared with a working capital deficit of $1.0 million at December 31, 2008, and a deficit of $1.5 million at the end of June 30, 2008. The positive working capital of $1.4 million at March 31, 2009 includes deferred revenue of $3.4 million and current portion of notes payable of $3.3 million. The Company anticipates current liquidity and cash generated from operations to be sufficient to fund existing operations for the foreseeable future.

PEER 1 had 119,294,323 common shares outstanding as at March 31, 2009. Subsequent Events

On April 27, 2009, the Company announced that it had opened its European office and brought its new UK data center online, naming industry veteran Dominic Monkhouse as managing director. The UK data center strengthens the Company's presence in Europe alongside existing London and Amsterdam network Points-of-Presence (PoPs). The data center offers managed and dedicated hosting services to PEER 1 and ServerBeach customers and has capacity for an initial 1,500 servers.

On May 12, 2009, the Company announced that it had secured a location for a 41,000 square foot green data center in the Toronto area. The first of four planned stages is scheduled for completion in early 2010, and will include 7,500 square feet of data center space, and 8,000 square feet of office and staging area at an estimated capital cost of U.S. $10 million. The facility, which will be built out over the next several years, will have a total capacity for approximately 700 normal cabinet equivalents (NCE) for co-location and 9,000 servers for managed and dedicated hosting, with the flexibility to alter the mix of these core services based on future customer demand. The new facility will implement some of the most efficient products and technologies on the market, including the use of a local well for primary water supply with redundant connection to the city water system to reduce overall carbon footprint and provide lower energy consumption.

EBITDA Reconciliation (unaudited - prepared by management) (in $ thousands) Three Months Ended ------------------------ 31-Mar-09 31-Mar-08 Net Profit 1,414 2,202 Income tax expense 842 1,500 Interest expense 405 493 Amortization - licenses, fixed assets and deferred network costs 3,373 2,881 Stock based compensation 434 399 Loss (gain) on disposal of assets - (7) Amortization of deferred gain (20) (20) Foreign exchange loss (gain) (48) (15) ------------------------------------------------------------------------- EBITDA 6,400 7,433 EBITDA margin 28.26% 32.64% Conference Call

PEER 1 will hold a conference call today, Thursday, May 14, 2009 at 5:30 p.m. Eastern Daylight Time (EDT), to discuss the results of the third quarter of fiscal 2009. The Company's full Financial Statements and Management's Discussion and Analysis are available on its website at http://www.peer1.com/investors/.

To access the conference call by telephone, dial (416) 644-3417 or 1-800-732-6179. Please connect approximately 15 minutes prior to the beginning of the call. The conference call will be archived for replay until Thursday, May 21, 2009, at midnight. To access the archived conference call, dial (416) 640-1917 or 1-877-289-8525 and enter the reservation number: 21303393 followed by the number sign.

A live audio webcast of the conference call will be available at: http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2614920

Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived at the above website for 90 days.

About PEER 1

PEER 1 believes in the limitless opportunity of the Internet, and the business growth potential it provides for its more than 10,000 customers. As a global online IT hosting provider, PEER 1 offers a reliable high performance Internet network supporting scalable managed hosting, dedicated hosting through the ServerBeach brand, and co-location solutions. Backed by its 100 percent uptime guarantee and 24x7x365 FirstCall Support(TM), PEER 1 ensures customers' online presence is always fast, always available. Since 1999, PEER 1 has grown to include 16 state-of-the-art data centers and points-of-presence throughout North America and Europe. The company's headquarters are in Vancouver, Canada and the stock is traded on the TSX under the symbol PIX. For more information visit: http://www.peer1.com/.

Non-GAAP Measures

PEER 1 reports EBITDA because it is a key measure used by management to evaluate the Company's performance. PEER 1 believes that EBITDA is useful supplemental information, as it provides an indication of the results generated by PEER 1's main business activities prior to taking into consideration how those activities are financed and expensed. EBITDA is not a recognized measure under Canadian GAAP, and accordingly investors are cautioned that EBITDA should not be construed as an alternative to net earnings or loss determined in accordance with Canadian GAAP as an indicator of financial performance of PEER 1, or as a measure of the company's liquidity and cash flows. PEER 1's method of calculating EBITDA may differ from other issuers and, accordingly, EBITDA may not be comparable to similar measures presented by other issuers. The schedule above sets out PEER 1's EBITDA calculations.

Forward Looking Statements:

Statements in this release relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, general economic conditions, changes in technology, reliance on third party manufacturing, managing rapid growth, global sales risks, limited intellectual property protection and other risks and uncertainties described in PEER 1's public filings with securities regulatory authorities.

Financial tables to follow. Peer 1 Network Enterprises, Inc. Consolidated Balance Sheet March 31, 2009 (unaudited - prepared by management) (in thousands of United States Dollars) March 31, June 30, 2009 2008 US$ US$ Assets Current: Cash and cash equivalents 12,045 11,026 Accounts receivable (note 8 & note 11b) 3,923 4,051 Future income tax asset 94 104 Prepaid expenses 831 801 ------------------------ 16,893 15,982 Other assets 3,033 3,075 Future income tax asset 1,453 1,841 Property, plant and equipment 36,262 33,818 Equipment under capital lease 1,076 1,267 Goodwill 1,716 1,715 Intangible assets 2,552 2,500 ------------------------ 62,985 60,198 ------------------------ ------------------------ Liabilities Current: Accounts payable and accrued liabilities 6,519 8,810 Deferred revenue (note 8) 3,378 3,553 Current portion of deferred gain 79 79 Current portion of deferred lease inducements 142 134 Current portion of notes payable (note 4) 3,287 3,286 Current portion of obligations under capital lease 192 226 Income taxes payable 1,902 1,435 ------------------------ 15,499 17,523 Deferred gain 512 571 Deferred lease inducements 696 739 Notes payable (note 4) 10,026 12,008 Obligations under Capital Lease 385 655 ------------------------ 27,118 31,496 ------------------------ Shareholders' Equity Capital stock (note 5b) 26,940 26,539 Warrants (note 5c) 493 678 Contributed Surplus (note 5d) 4,313 2,509 Retained Earnings (Deficit) 4,132 (1,013) Accumulated other comprehensive loss (11) (11) ------------------------ 35,867 28,702 ------------------------ 62,985 60,198 ------------------------ ------------------------ Peer 1 Network Enterprises, Inc. Consolidated Statement of Operations, Comprehensive Income and Retained Earnings (Deficit) Three and nine months ended March 31, 2009 (unaudited - prepared by management) (in thousands of United States Dollars, except per share amounts) Three Three Nine Nine Months Ended Months Ended Months Ended Months Ended March 2009 March 2008 March 2009 March 2008 US$ US$ US$ US$ ------------------------------------------------------- Revenue: Co-location Services 5,944 7,070 18,783 20,402 Dedicated Hosting Services 16,705 15,702 51,009 45,553 ------------------------------------------------------- 22,649 22,772 69,792 65,955 Cost of Sales 13,404 12,431 39,306 36,513 ------------------------------------------------------- Gross Profit 9,245 10,341 30,486 29,442 Operating expenses 6,636 6,232 20,671 18,599 ------------------------------------------------------- Operating Income before other items 2,609 4,109 9,815 10,843 Other Items: Interest Income (4) (64) (59) (290) Integration costs - - - 93 Gain on disposal of fixed assets - (7) (20) (14) Foreign exchange (gain)/loss (48) (15) (132) 241 Interest expense - long term 405 493 1,266 1,697 ------------------------------------------------------- Income before income taxes 2,256 3,702 8,760 9,116 ------------------------------------------------------- Future income tax expense 144 1,066 381 2,056 Current Income tax expense 698 434 3,234 1,730 ------------------------------------------------------- Income tax expense 842 1,500 3,615 3,786 ------------------------------------------------------- Net income and comprehensive income 1,414 2,202 5,145 5,330 Retained Earnings (Deficit), beginning of period 2,718 (4,949) (1,013) (8,077) ------------------------------------------------------- Retained Earnings (Deficit), end of period 4,132 (2,747) 4,132 (2,747) ------------------------------------------------------- ------------------------------------------------------- Earnings per Share: Basic 0.01 0.02 0.04 0.05 Diluted 0.01 0.02 0.04 0.04 Weighted average number of shares outstanding: Basic 119,294,323 118,467,691 119,085,836 118,180,288 Diluted 123,755,886 122,455,914 124,073,826 121,696,386 Peer 1 Network Enterprises, Inc. Consolidated Statement of Cash Flows For the three and Nine months ended March 31, 2009 (unaudited - prepared by management) (in thousands of United States Dollars) Three Three Nine Nine Months Ended Months Ended Months Ended Months Ended March 2009 March 2008 March 2009 March 2008 US$ US$ US$ US$ Cash flows from operating activities Net Income 1,414 2,202 5,145 5,330 Amortization of property and equipment 3,050 2,450 8,693 6,803 Amortization of intangible assets 323 431 1,051 1,217 Increase in accrued interest and accretion on notes payable 11 (17) 66 1 Bad debt expense 198 125 595 379 Gain on disposal of property and equipment - (8) (20) (14) Amortization of deferred gain (20) (20) (59) (59) Amortization of deferred loan origination fees 110 117 350 415 Future income tax expense 144 1,066 381 2,056 Stock-based compensation included in income for period 434 399 1,825 1,180 Decrease in deferred lease inducements (36) 37 (35) (202) Foreign exchange translation adjustment - (40) - (40) ------------------------------------------------------- 5,628 6,742 17,992 17,066 Change in non-cash working capital items (Increase) Decrease in accounts receivable 816 (169) (466) 913 (Increase) in prepaid expenses 183 610 (30) (426) Increase (decrease) in accounts payable and accrued liabilities (145) 1,448 (1,320) 771 Increase (decrease) in income taxes payable 150 (672) 329 (122) Increase (decrease) in deferred revenue (236) 61 (176) (1,132) ------------------------------------------------------- 6,396 8,020 16,329 17,070 ------------------------------------------------------- Cash flows from investing activities Investment in other assets 12 18 43 293 Acquisition of property and equipment (2,788) (3,787) (11,819) (13,538) Investment in goodwill, licences and other intangibles (304) - (1,200) (469) Proceeds on disposition of equipment - 20 20 46 ------------------------------------------------------- (3,080) (3,749) (12,956) (13,668) ------------------------------------------------------- Cash flows from financing activities Repayment of notes payable (800) (821) (2,400) (2,754) Payment of capital lease obligations (47) (36) (148) (36) Issuance of capital stock - 3 194 1,003 ------------------------------------------------------- (847) (854) (2,354) (1,787) ------------------------------------------------------- (Decrease) Increase in cash and cash equivalents 2,469 3,417 1,019 1,615 Cash and cash equivalents - beginning of period 9,576 6,952 11,026 8,754 ------------------------------------------------------- Cash and cash equivalents - end of period 12,045 10,369 12,045 10,369 ------------------------------------------------------- ------------------------------------------------------- Supplemental cash flow information: Interest paid 284 394 849 1,280 Income tax paid 534 1,084 2,726 1,844 Interest received 4 64 59 290 Effect of acquistion of property and equipment in accounts payable (908) 74 (871) (8) Non-cash transactions - fixed assets disposal trade in 553 553

Peer 1 Network Enterprises, Inc.

CONTACT: For media inquiries please contact Abigail Faylor, Weber
Shandwick, (425) 452-5497, afaylor@webershandwick.com; For investor inquiries
please contact Thomas McMillan, Equicom Group, (403) 536-5903,
tmcmillan@equicomgroup.com

Exar Corporation Reports Fiscal 2009 Fourth Quarter Results

FREMONT, Calif., May 14 /PRNewswire-FirstCall/ -- Exar Corporation , today reported financial results for its fiscal 2009 fourth quarter ended March 29, 2009.

Net sales for the fourth quarter of fiscal 2009 were $23.9 million compared to net sales of $26.3 million for the prior quarter and $28.3 million for the fourth quarter of fiscal 2008.

The GAAP gross margin for the fourth quarter of fiscal 2009 was 42.2% compared to 40.7% for the prior quarter and 37.9% for the fourth quarter of fiscal 2008. On a non-GAAP basis, the gross margin for the fourth quarter of fiscal 2009 was 44.5% compared to 45.3% for the prior quarter and 45.3% in the fourth quarter of fiscal 2008.

The GAAP net loss for the fourth quarter of fiscal 2009 was $4.6 million, or a net loss per share of $0.11, compared to a net loss of $63.8 million, or a net loss per share of $1.49, in the prior quarter, and a net loss of $172.4 million, or a net loss per share of $3.77, for the fourth quarter of fiscal 2008. These prior period results include non-cash charges of $60.9 million for the impairment of goodwill and intangible assets, and for the acceleration of depreciation on abandoned equipment in the third quarter of fiscal 2009 and $165.2 million for the impairment of goodwill and intangible assets in the fourth quarter of fiscal 2008.

On a non-GAAP basis, the net loss was $2.1 million, or a net loss per share of $0.05, for the fourth quarter of fiscal 2009, compared to a net loss of $0.7 million, or a net loss per share of $0.02, in the previous quarter, and a net loss of $1.7 million, or a net loss per share of $0.04, in the fourth quarter of fiscal 2008.

The Company ended the fourth quarter of fiscal 2009 with cash, cash equivalents and short-term marketable securities of $256.3 million.

"Our visibility has improved and orders started to strengthen after Chinese New Year, but overall we had another challenging quarter," said Pete Rodriguez, the Company's president and chief executive officer. "While this was the eighth consecutive quarter in reducing operating expenses, we will continue to be cautious in how we manage the business. I am excited about our acquisition of Hifn, which will broaden our key product offerings in the growing Datacom and Storage markets. Combined with our continued focus on developing winning products, I remain confident that we will emerge stronger from this economic downturn," remarked Mr. Rodriguez.

Business Outlook

For the first quarter of fiscal 2010 ending June 28, 2009, the Company expects that net sales will be between $30.0 million and $32.0 million, non-GAAP gross margin will be between 49% and 51% and non-GAAP operating expenses will be between $19.0 million and $21.0 million.

The Company's statements about its future financial performance or operating plans are based on current information and expectations and the Company undertakes no duty to update such statements. These statements are forward-looking and actual results could differ materially due to various risks and uncertainties, some of which are described herein.

Results Conference Call

The Company invites investors, financial analysts, and the general public to listen to its conference call discussing the Company's financial results for the fourth quarter of fiscal 2009, today, Thursday, May 14, 2009 at 1:30 p.m. PDT To access the conference call, please dial (877) 209-9922 by 1:20 p.m. PDT and use conference ID number 998825.

In addition, a live webcast will also be available. To access the webcast, please go to the Company's Investor Relations Homepage at: http://www.videonewswire.com/event.asp?id=58965.

A replay of the call will be available starting at 5:00 p.m. PDT today until 11:59 p.m. PDT on May 21, 2009. To access the replay, please dial (800) 475-6701 and use conference ID number 998825.

Product Line Highlights Interface

Exar Launches Highest Performance Universal Asynchronous Receiver Transmitter (UART) Series with VLIO Bus Interface -- http://www.exar.com/Common/Content/News.aspx?id=4832

Power Management

Exar Provides New Scalable Evolutionary Solutions for Driving High Power Light Emitting Diodes (LEDs) -- http://www.exar.com/Common/Content/News.aspx?id=4972

Safe Harbor Statement

The Company's statements about its future financial performance, changes in gross margins, revenues and operating expenses, resource allocation and its impact on future performance and product development internal initiatives, distribution and OEM trends, supply chain issues among others, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include global financial volatility, economic recession, and industry and market conditions, such as customer and distributor relationships; limited visibility associated with customer or distributor demand for the Company's products; the possible loss of, or decrease in orders from, an important customer; adjustments in interest rates and cash balances; vendor capacity, quality or throughput constraints; successful integration of acquired businesses; possible disruption in commercial activities as a consequence of terrorist activity, natural disasters, armed conflict or health issues; successful development, market acceptance and demand for the Company's products, including those for which the Company has achieved design wins; competitive factors, such as pricing or competing solutions; customer ordering patterns; accounting considerations related to impairment analyses or acquisition related issues; the level of inventories maintained at the Company's OEMs and distributors; and the Company's successful execution of internal performance plans, as well as the other risks detailed from time to time in the Company's SEC reports, including the Annual Report on Form 10-K for the year ended March 30, 2008 and Quarterly Reports on Form 10-Q for the periods ended June 29, 2008, September 28, 2008 and December 28, 2008.

Generally Accepted Accounting Principles

The Company reports its financial results in accordance with GAAP. Additionally, the Company supplements reported GAAP financials with non-GAAP measures which are included in related press releases and reports furnished to the SEC, copies of which are available at the Company's website: http://www.exar.com/ or the SEC's website at: http://www.sec.gov/. For the periods presented, we are disclosing non-GAAP gross margin, non-GAAP research and development expenses, non-GAAP selling, general and administrative expenses, non-GAAP operating expenses, non-GAAP operating loss, non-GAAP net income (loss), and non-GAAP diluted earnings (loss) per share, which are adjusted to exclude from our GAAP results all stock-based compensation expense, amortization of acquired intangible assets, fair value adjustment of acquired inventories, acquired in-process research and development expenses, acquisition related costs, separation costs of executive officers, accelerated depreciation on abandoned equipment, goodwill and other intangible asset impairment, impairment charges on investments, income tax effects, a charge to establish deferred tax asset valuation allowance, and an income tax benefit from the closure of federal tax audit. These non-GAAP measures are presented in part to enhance the understanding of the Company's historical financial performance and comparability between reporting periods. The Company believes the non-GAAP presentation, when shown in conjunction with the corresponding GAAP measures, provide relevant and useful information to analysts, investors, management and other interested parties following the semiconductor industry. For its internal purposes, the Company uses the foregoing non-GAAP measures to evaluate performance across reporting periods, determine certain employee benefits as well as plan for and forecast the Company's future periods. These non-GAAP measures are not in accordance with, or an alternative for measures prepared in accordance with GAAP, and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. The Company believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP. These measures should only be used to evaluate the Company's results of operations in conjunction with the corresponding GAAP measures.

About Exar

Exar Corporation delivers highly differentiated silicon, software and subsystem solutions for industrial, datacom and storage applications. For nearly 40 years, Exar's comprehensive knowledge of end-user markets along with the underlying analog, mixed signal and digital technology has enabled innovative solutions that meet the needs of the evolving connected world. Exar's product portfolio includes power management and interface components, communications products, storage optimization solutions, network security and applied service processors. Exar has locations worldwide providing real-time customer support to drive rapid product development. For more information about Exar, visit: http://www.exar.com/.

EXAR CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share amounts) (Unaudited) MARCH 29, MARCH 30, 2009 2008 ---- ---- ASSETS Current assets: Cash and cash equivalents $89,002 $122,016 Short-term marketable securities 167,341 146,844 Accounts receivable (net of allowances of $572 and $714) 7,452 9,943 Accounts receivable, related party (net of allowances of $736 and $1,421) 1,796 3,712 Inventories 15,678 14,201 Interest receivable and prepaid expenses 3,274 3,889 Deferred income taxes, net 62 507 --- --- Total current assets 284,605 301,112 Property, plant and equipment, net 42,549 46,130 Goodwill - 47,626 Intangible assets, net 7,359 26,019 Other non-current assets 1,876 3,333 ----- ----- Total assets $336,389 $424,220 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $5,391 $8,801 Accrued compensation and related benefits 4,773 5,744 Deferred income and allowances on sales to distributors 3,208 3,253 Deferred income and allowances on sales to distributors, related party 7,040 9,118 Other accrued expenses 7,014 8,136 ----- ----- Total current liabilities 27,426 35,052 Long-term lease financing obligations 15,633 16,379 Other non-current obligations 1,236 1,712 ----- ----- Total liabilities 44,295 53,143 ------ ------ Total stockholders' equity Preferred stock, $.0001 par value; 2,250,000 shares authorized; no shares outstanding - - Common stock, $.0001 par value; 100,000,000 shares authorized; 43,036,271 and 43,928,762 shares issued and outstanding at March 29,2009 and March 30, 2008, respectively (net of treasury shares) 4 4 Additional paid-in capital 710,787 702,218 Accumulated other comprehensive income 802 1,873 Treasury stock at cost, 19,924,369 and 18,288,021 shares at March 29, 2009 and March 30, 2008, respectively (248,983) (235,538) Accumulated deficit (170,516) (97,480) -------- ------- Total stockholders' equity 292,094 371,077 ------- ------- Total liabilities and stockholders' equity $336,389 $424,220 ======== ======== EXAR CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) THREE MONTHS ENDED TWELVE MONTHS ENDED MARCH DECEMBER MARCH MARCH MARCH 29, 28, 30, 29, 30, 2009 2008 2008 2009 2008 ---- ---- ---- ---- ---- Net sales $15,667 $17,201 $18,356 $74,620 $67,925 Net sales, related party 8,187 9,104 9,906 40,498 21,818 ----- ----- ----- ------ ------ Total net sales 23,854 26,305 28,262 115,118 89,743 ------ ------ ------ ------- ------ Cost of sales: Cost of sales 8,472 10,821 10,798 41,811 33,773 Cost of sales, related party 4,880 3,998 5,244 19,933 10,406 Amortization of purchased intangible assets 436 782 1,515 3,129 5,452 --- --- ----- ----- ----- Total cost of sales 13,788 15,601 17,557 64,873 49,631 ------ ------ ------ ------ ------ Gross profit 10,066 10,704 10,705 50,245 40,112 ------ ------ ------ ------ ------ Operating expenses: Research and development 7,512 8,092 8,259 31,829 30,660 Acquired in- process research and development - - - - 8,800 Goodwill and other intangible asset impairment - 59,676 165,191 59,676 165,191 Selling, general and administrative 8,816 9,099 11,793 38,962 37,899 ----- ----- ------ ------ ------ Total operating expenses 16,328 76,867 185,243 130,467 242,550 Loss from Operations (6,262) (66,163) (174,538) (80,222) (202,438) Other income, net: Interest income and other, net 1,918 2,570 3,266 9,693 16,037 Interest expense (326) (266) (344) (1,253) (771) Impairment charges on investments (301) (34) (142) (1,789) (591) ---- --- ---- ------ ---- Total other income and expense, net 1,291 2,270 2,780 6,651 14,675 Loss before income taxes (4,971) (63,893) (171,758) (73,571) (187,763) Provision (benefit) for income taxes (406) (70) 640 (535) 8,116 ---- --- --- ---- ----- Net loss $(4,565) $(63,823) $(172,398) $(73,036) $(195,879) ======= ======== ========= ======== ========= Loss per share: Basic loss per share $(0.11) $(1.49) $(3.77) $(1.70) $(4.55) ====== ====== ====== ====== ====== Diluted loss per share $(0.11) $(1.49) $(3.77) $(1.70) $(4.55) ====== ====== ====== ====== ====== Shares used in the computation of loss per share: Basic 42,950 42,889 45,712 42,887 43,090 ====== ====== ====== ====== ====== Diluted 42,950 42,889 45,712 42,887 43,090 ====== ====== ====== ====== ====== Note: Certain amounts previously reported above have been reclassified to conform to the current periods' presentation. EXAR CORPORATION AND SUBSIDIARIES SUPPLEMENTAL RECONCILIATION OF GAAP TO NON-GAAP RESULTS (In thousands, except per share amounts) (Unaudited) THREE MONTHS ENDED TWELVE MONTHS ENDED MARCH DECEMBER MARCH MARCH MARCH 29, 28, 30, 29, 30, 2009 2008 2008 2009 2008 ---- ---- ---- ---- ---- GAAP gross margin 42.2% 40.7% 37.9% 43.6% 44.7% Stock-based compensation 0.5% 0.5% 0.5% 0.5% 0.7% Amortization of acquired intangible assets 1.8% 3.0% 5.4% 2.7% 6.1% Fair value adjustment of acquired inventories - - 1.5% - 2.5% Acquisition- related costs - - 0.1% 0.1% 0.1% Acceleration of depreciation on abandoned equipment - 1.1% - 0.3% - --- --- --- --- --- Non-GAAP gross margin 44.5% 45.3% 45.3% 47.2% 54.0% ==== ==== ==== ==== ==== GAAP research and development expenses $7,512 $8,092 $8,259 $31,829 $30,660 Stock-based compensation 383 392 270 1,614 1,207 Amortization of acquired intangible assets 72 200 - 798 - Acquisition- related costs - - 131 - 393 Acceleration of depreciation on abandoned equipment - 437 - 437 - --- --- --- --- --- Non-GAAP research and development expenses $7,057 $7,063 $7,858 $28,980 $29,060 ====== ====== ====== ======= ======= GAAP selling, general and administrative expenses $8,816 $9,099 $11,793 $38,962 $37,899 Stock-based compensation 713 768 884 2,725 3,366 Amortization of acquired intangible assets 44 122 266 490 936 Acquisition- related costs 778 - 717 1,319 1,992 Separation costs of executive officers - - - - 465 Acceleration of depreciation on abandoned equipment - 437 - 437 - --- --- --- --- --- Non-GAAP selling, general and administrative expenses $7,281 $7,772 $9,926 $33,991 $31,140 ====== ====== ====== ======= ======= GAAP operating expenses $16,328 $76,867 $185,243 $130,467 $242,550 Stock-based compensation 1,096 1,160 1,154 4,339 4,573 Amortization of acquired intangible assets 116 322 266 1,288 936 Acquired in- process research and development - - - - 8,800 Acquisition- related costs 778 - 848 1,319 2,385 Separation costs of executive officers - - - - 465 Acceleration of depreciation on abandoned equipment - 874 - 874 - Goodwill and other intangible asset impairment - 59,676 165,191 59,676 165,191 --- ------ ------- ------ ------- Non-GAAP operating expenses $14,338 $14,835 $17,784 $62,971 $60,200 ======= ======= ======= ======= ======= GAAP operating loss $(6,262) $(66,163) $(174,538) $(80,222) $(202,438) Stock-based compensation 1,207 1,278 1,282 4,934 5,196 Amortization of acquired intangible assets 552 1,105 1,781 4,417 6,388 Fair value adjustment of acquired inventories - - 432 - 2,231 Acquired in- process research and development - - - - 8,800 Acquisition- related costs 778 - 884 1,434 2,437 Separation costs of executive officers - - - - 465 Acceleration of depreciation on abandoned equipment - 1,174 - 1,174 - Goodwill and other intangible asset impairment - 59,676 165,191 59,676 165,191 --- ------ ------- ------ ------- Non-GAAP operating loss $(3,725) $(2,930) $(4,968) $(8,587) $(11,730) ======= ======= ======= ======= ======== GAAP net loss $(4,565) $(63,823) $(172,398) $(73,036) $(195,879) Stock-based compensation 1,207 1,278 1,282 4,934 5,196 Amortization of acquired intangible assets 552 1,105 1,781 4,417 6,388 Fair value adjustment of acquired inventories - - 432 - 2,231 Acquired in- process research and development - - - - 8,800 Acquisition- related costs 778 - 884 1,434 2,437 Separation costs of executive officers - - - - 465 Acceleration of depreciation on abandoned equipment - 1,174 - 1,174 - Goodwill and other intangible asset impairment - 59,676 165,191 59,676 165,191 Impairment charges on investments 301 34 142 1,789 591 Income tax effects (413) (103) 1,035 (535) 304 Charge to establish deferred tax asset valuation allowance - - - - 8,323 Income tax benefit from the closure of federal tax audit - - - - (1,933) --- --- --- --- ------ Non-GAAP net income (loss) $(2,140) $(659) $(1,651) $(147) $2,114 ======= ===== ======= ===== ====== GAAP loss per share $(0.11) $(1.49) $(3.77) $(1.70) $(4.55) Stock-based compensation 0.03 0.03 0.03 0.12 0.12 Amortization of acquired intangible assets 0.01 0.03 0.04 0.10 0.16 Fair value adjustment of acquired inventories - - 0.01 - 0.05 Acquired in- process research and development - - - - 0.21 Acquisition- related costs 0.02 - 0.02 0.03 0.06 Separation costs of executive officers - - - - 0.01 Acceleration of depreciation on abandoned equipment - 0.03 - 0.03 - Goodwill and other intangible asset impairment - 1.39 3.61 1.39 3.80 Impairment charges on investments 0.01 - - 0.04 0.01 Income tax effects (0.01) - 0.02 (0.01) 0.01 Charge to establish deferred tax asset valuation allowance - - - - 0.20 Income tax benefit from the closure of federal tax audit - - - - (0.04) --- --- --- --- ----- Non-GAAP diluted earnings (loss) per share $(0.05) $(0.02) $(0.04) $0.00 $0.05 ====== ====== ====== ===== ===== Shares used in earnings (loss) per share --- GAAP 42,950 42,889 45,712 42,887 43,090 The effect of dilutive potential common shares due to reporting Non-GAAP net income - - - - 540 --- --- --- --- --- Shares used in diluted earnings per share --- Non-GAAP 42,950 42,889 45,712 42,887 43,630 ====== ====== ====== ====== ====== Notes: Certain amounts may not total due to rounding. Certain amounts previously reported above have been reclassified to conform to the current periods' presentation.

Exar Corporation

CONTACT: J. Scott Kamsler, Sr. Vice President and CFO of Exar
Corporation, +1-510-668-7110

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

China GrenTech Corporation Limited Announces First Quarter 2009 Results

Total revenue increased by 299.6%; gross profit increased by 232.8% Positive operating and net income

SHENZHEN, China, May 14 /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, today announced its unaudited financial results for the first quarter ended March 31, 2009.

First Quarter 2009 Financial Highlights -- Total revenue increased by 299.6% year-over-year to RMB285.3 million (US$41.8 million)(1) -- Revenue from wireless coverage products and services increased by 200.9% year-over-year to RMB156.7 million (US$22.9 million) -- Revenue from base station RF products increased 565.8% year-over-year to RMB128.6 million (US$18.8 million) -- Gross profit increased by 232.8% year-over-year to RMB73.1 million (US$10.7 million) -- Operating income was RMB11.0 million (US$1.6 million), as compared to operating loss of RMB36.3 million in the first quarter 2008 -- Net income was RMB6.3 million (US$0.9 million), as compared to net loss of RMB41.5 million in the first quarter 2008 -- Diluted net income per ADS(2) was RMB0.26 (US$0.04)

Mr. Yingjie Gao, Chairman and Chief Executive Officer of GrenTech, said, "I am delighted to announce that we have recorded significant year-over-year top line growth in the first quarter. At the same time, results this quarter oppose traditional seasonality trends, demonstrated by positive operating income and net income in the first quarter 2009 versus the operating and net losses typically experienced in prior first quarters. As a key supplier of wireless coverage products and services and base station RF models in China, GrenTech benefited greatly from the substantial rollout of large scale network construction projects by the three telecommunication operators in China, namely China Mobile, China Unicom and China Telecom, subsequent to the conclusion of their restructuring and the issuance of 3G licenses by the PRC government. The considerable revenue increase in both the wireless coverage and base station RF businesses was driven by heightened demand for our products and services from operators and base station manufacturers. This demand, together with our initiatives to improve operating efficiency and tighten cost control, has enabled us to enhance our bottom line performance in the quarter."

(1) The Company's reporting currency is Renminbi ("RMB"). The translation of amounts from RMB to United States dollars is solely for the convenience of the reader. RMB numbers included in this press release have been translated into U.S. dollars at the noon buying rate for U.S. dollars in effect on March 31, 2009 in the City of New York for cable transfers in RMB per U.S. dollar as certified for customs purposes by the Federal Reserve Bank of New York, which was US$1.00=RMB6.8329. No representation is made that RMB amounts could have been, or could be, converted into U.S. dollars at that rate or at any other rate on March 31, 2009. (2) Each ADS represents 25 of our ordinary shares. First Quarter 2009 Unaudited Financial Results Revenue

Revenue for the first quarter 2009 increased by 299.6% to RMB285.3 million (US$41.8 million) from RMB71.4 million in the first quarter of 2008. This was primarily due to the issuance of 3G licenses by the PRC government, which led to the three telecommunication operators' increased expenditures for large-scale network construction. As a result of the operators' growing demand for the Company's products and services, GrenTech's revenue from wireless coverage products and services increased 200.9% year-over-year to RMB156.7 million (US$22.9 million) from RMB52.1 million in the first quarter 2008, while revenue from base station RF business increased by 565.8% to RMB128.6 million (US$18.8 million) from RMB19.3 million in the first quarter 2008.

Three Months Ended March 31, 2008 2009 Revenues Revenues Revenues % of Total (RMB'000) (RMB'000) (US$'000) Revenues Wireless Coverage Products & Services China Mobile 31,010 85,888 12,570 30.1% China Unicom 16,102 45,011 6,587 15.8% China Telecom 1,859 22,203 3,249 7.8% China Netcom 775 -- -- -- Overseas 2,273 77 11 0.03% Non-operators 48 3,475 509 1.2% Subtotal 52,067 156,654 22,926 54.9% RF Products OEMs 19,322 128,639 18,826 45.1% Total 71,389 285,293 41,753 100% Cost of Revenue

Cost of revenue in the first quarter 2009 was RMB212.2 million (US$31.1 million). The year-over-year cost of revenue increase by 329.3% which was driven primarily by the significant increase in sales volume.

Operating Expenses

Research and development expenses decreased by RMB2.0 million (US$0.3 million), or 13.0%, to RMB13.3 million (US$2.0 million) from RMB15.3 million in the first quarter 2008. After the Company's large initial investment in research and development in 3G products, research and development expenses in this quarter have been reduced. In addition, the Company has made improvements in research and development efficiency.

Sales and distribution expenses increased by RMB4.9 million (US$0.7 million), or 17.0%, to RMB33.7 million (US$4.9 million) from RMB28.8 million in the same period last year, which was primarily due to higher travel and business development costs related to sales volume increase.

General and administrative expenses increased by RMB0.9 million (US$0.1 million), or 6.4%, to RMB15.1 million (US$2.2 million) from RMB14.2 million in the first quarter 2008. The year-over-year increase was primarily due to the RMB1.8 million (US$0.3 million) for 2008 annual auditing fees that was paid in the first quarter 2009, and the amortization of share option compensation costs in the first quarter 2009, which caused management expenses to increase by RMB0.5 million (US$0.1 million), while the majority of all other general and administrative expenses decreased as compared to the same period last year.

As a result, total operating expenses increased by 6.6% year-over-year to RMB62.1 million (US$9.1 million) from RMB58.3 million.

Other Expenses/Income

Interest income increased by RMB4.6 million (US$0.7 million), or 83.2%, to RMB10.0 million (US$1.5 million) from RMB5.5 million in the first quarter 2008, which was primarily due to the increase in amortization of interest income related to accounts receivable.

Interest expense increased by RMB0.7 million (US$0.1 million), or 5.6%, year-over-year to RMB14.0 million (US$2.0 million) from RMB13.2 million, mainly attributable to the increase in bank financing interests.

The foreign currency exchange loss was RMB0.03 million (US$0.004 million) in the first quarter 2009, compared with a loss of RMB7.0 million in the same period of the previous year. The significant year-over-year decrease was mainly due to the relatively stable RMB to U.S. dollar exchange rate and a reduction in U.S. dollar-denominated deposits.

Government grant income decreased by RMB1.7 million (US$0.2 million), or 84%, to RMB0.3 million (US$0.05 million) from RMB2.0 million in the first quarter 2008. Government grant income is typically low in the first quarters during which grant application are being processed. However, the Company received higher grant income in the first quarter 2008 due to a one-off government grant recognition.

As a result, total other expenses were decreased RMB8.8 million (US$1.3 million), or 70.7%, to RMB3.7 million (US$0.5 million) from RMB12.5 million in the first quarter 2008.

Earnings

Gross profit increased by RMB51.1 million (US$7.5 million), or 232.8%, to RMB73.1 million (US$10.7 million) from RMB22.0 million in the first quarter 2008. The increase in gross profit was mainly due to the significant increase in total revenue.

Gross margin decreased to 25.6% from 30.8% in the first quarter 2008, primarily due to a decrease in average selling price in wireless coverage equipment and the increase in revenue contribution from base station RF business which has a lower gross margin.

Operating income was RMB11.0 million (US$1.6 million), as compared to an operating loss of RMB36.3 million in the first quarter 2008. The Company has typically reported an operating loss in the first quarter of each year due to seasonality in wireless coverage spending trends among Chinese telecom operators; however, this year, due to the substantial increase in operators' expenditures for network construction, the Company was able to achieve a first quarter operating income for the first time. The management's initiatives to enhance operating efficiency also contributed to the generation of operating income in the first quarter 2009.

Net income was RMB6.3 million (US$0.9 million), as compared to a net loss of RMB41.5 million in the first quarter 2008.

Diluted net income per ADS was RMB0.26 (US$0.04). Balance Sheet

Cash, cash equivalents and pledged time deposits decreased by RMB171.3 million (US$25.1 million), or 41.2%, to RMB244.4 million (US$35.8 million) from RMB415.7 million as of December 31, 2008. This decrease was mainly attributable to working capital outflow for raw materials and operating overhead.

Total accounts receivable increased by RMB156.6 million (US$22.9 million), or 12.2%, to RMB1,436.1 million (US$210.2 million) from RMB1,279.5 million as of December 31, 2008. This decrease was mainly attributable to the fact that majority of sales generated in the first quarter 2009 have not yet entered into payment collection period.

Inventories increased by RMB171.8 million (US$25.1 million), or 33.0%, to RMB692.4 million (US$101.3 million) from RMB520.6 million as of December 31, 2008. The increase was mainly due to the increase in purchase of raw materials in anticipation of the next peak sales period and finished goods that were installed in customer sites but have not yet been recognized as revenue.

Total assets increased by RMB198.6 million (US$29.1 million), or 6.9%, to RMB3,065.2 million (US$448.6 million) from RMB2,866.6 million as of December 31, 2008, mainly due to increases in inventories and accounts receivable.

Total liabilities increased by RMB191.8 million (US$28.1 million), or 13.7%, to RMB1,593.2 million (US$233.2 million) from RMB1,401.4 million as of December 31, 2008. Current liabilities increased by RMB191.8 million (US$28.1 million), or 15.1%, to RMB1,458.4 million (US$213.4 million) from RMB1,266.6 million as of December 31, 2008, primarily due to the increase in accounts payable. Long-term debt as of March 31, 2009 was RMB130.0 million (US$19.0 million), which was unchanged from December 31, 2008.

Business Outlook Wireless Coverage Products and Services

While 3G network construction in China's first tier cities is coming to an end, construction in the second tier cities is expected to begin. Thus, GrenTech believes the demand for wireless coverage products and services will continue to increase, which in turn will drive sustainable growth in the Company's wireless coverage revenue in the second quarter 2009 and beyond.

Base Station RF Products

As 3G network construction is expected to commence in China's second tier cities, GrenTech believes that the telecommunication operators' demand for base station products will remain strong in the coming quarters. However, the next peak supply period for base station RF models is expected to start only after the announcement of the results of base station procurement tender procedures, which has yet to be announced. Therefore, the Company believes that the market demand for base station RF models will be somewhat weaker in the second quarter 2009 when compared with the first quarter 2009, mainly due to the time between peak supply periods.

Guidance for Second Quarter 2009

Management estimates that revenue for the second quarter 2009 will range between RMB340 million and RMB380 million, representing a year-over-year increase of 83% to 104%

Conference Call and Webcast

The Company's management team will conduct a conference call on Friday, May 15, 2009 at 5:00 am (Pacific) / 8:00 am (Eastern) / 8:00 pm (Beijing/Hong Kong). A webcast of the conference call will be available on the Company's website at: http://www.grentech.com.cn/ .

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/ .

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

Statements contained in this press release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including financial projections and forecasts, involve risks and uncertainties that could cause the Company's actual results to differ materially from its current expectations. Factors that could cause the Company's results to differ materially from those set forth in these forward-looking statements include: the Company's reliance on business relationships with the Chinese telecom operators and base station manufacturers; the risk that the Company will continue to experience downward pressure on the pricing of its products and services due to the telecom operators' bidding policies or other factors; the risk that the telecom operators in China will not expand or maintain their spending on 2G, 3G, WLAN or other network projects; uncertainty as to the future demand for base station RF products by domestic or international base station manufacturers, including the risk that demand in China or elsewhere for base stations may not grow as the Company's management anticipates; risks associated with large accounts receivable, long collection periods and accounts receivable cycles; fierce competition in the wireless communication industry; growth of, and risks inherent in, the wireless communication industry in China, including uncertainties regarding the timing and nature of any future restructuring of the telecom operators in China and the risks that such restructuring will not result in expanded investments to expand network coverage or quality; uncertainty as to future profitability and the Company's ability to obtain adequate financing for its planned capital expenditure requirements; its reliance on third parties to carry out the installation of its wireless coverage products; uncertainty as to its ability to continuously develop and manufacture new RF technologies and keep up with changes in RF technologies; risks associated with possible defects and errors in its wireless coverage products or RF products; uncertainty as to the Company's ability to protect and enforce its intellectual property rights; and uncertainty as to the Company's ability to attract and retain qualified executives and personnel, particularly in its research and development department. Other factors that may causes the Company's actual results to differ from those set forth in the forward-looking statements contained in this press release and that may affect its prospects in general are described in the Company's filings with the Securities and Exchange Commission, including its Registration Statement on Form F-1 related to its initial public offering and its annual reports on Form 20-F. The Company undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or changed assumptions or circumstances.

China GrenTech Corporation Limited and Subsidiaries Unaudited Condensed Consolidated Balance Sheets As of December 31, 2008 and March 31, 2009 (RMB and US$ expressed in thousands) December March March 31, 2008 31, 2009 31, 2009 RMB RMB US$ Assets Cash and cash equivalents 293,353 116,733 17,084 Pledged time deposits 122,368 127,656 18,683 Accounts receivable, net 728,260 911,156 133,348 Inventories 520,619 692,404 101,334 Other current assets 115,066 157,213 23,008 Total current assets 1,779,666 2,005,162 293,457 Long-term accounts receivable 551,210 524,936 76,825 Other non-current assets 535,683 535,083 78,310 Total assets 2,866,559 3,065,181 448,592 Liabilities Short-term bank loans 480,207 423,965 62,048 Other current liabilities 786,410 1,034,479 151,397 Total current liabilities 1,266,617 1,458,444 213,444 Long-term debt 130,000 130,000 19,026 Other non-current liabilities 4,752 4,734 693 Total liabilities 1,401,369 1,593,178 233,163 Minority interests 4,354 4,357 638 Total shareholders' equity 1,460,836 1,467,646 214,791 Total liabilities and shareholders' equity 2,866,559 3,065,181 448,592 China GrenTech Corporation Limited and Subsidiaries Unaudited Condensed Consolidated Statements of Operations for Three-month Periods Ended March 31, 2008 and 2009 (RMB and US$ expressed in thousands, except share and per share data) For Three Months Ended March 31, 2008 2009 2009 RMB RMB US$ Revenues 71,389 285,293 41,753 Cost of revenues (49,420) (212,179) (31,053) Gross profit 21,969 73,114 10,700 Operating expenses Research and development costs (15,328) (13,333) (1,951) Sales and distribution expenses (28,810) (33,715) (4,934) General and administrative expenses (14,158) (15,071) (2,206) Total operating expenses (58,296) (62,119) (9,091) Operating (loss)/income (36,327) 10,995 1,609 Other (expense)/income Interest income 5,472 10,024 1,467 Interest expense (13,242) (13,978) (2,046) Investment income 296 -- -- Foreign currency exchange loss (7,029) (27) (4) Grant income 2,030 324 47 Total other expense (12,473) (3,657) (536) (Loss)/income before income tax benefit and minority interests (48,800) 7,338 1,073 Income tax benefit/(expense) 7,046 (1,030) (150) (Loss)/income before minority interests (41,754) 6,308 923 Minority interests, net of tax 226 (3) (0) Net (loss)/income (41,528) 6,305 923 Net (loss)/income available to ordinary shareholders (41,528) 6,305 923 Net (loss)/income per share available to ordinary shareholders:

- - Basic (0.068) 0.010 0.002

- - Diluted (0.068) 0.010 0.002

Weighted average number of ordinary shares:

- - Basic 614,064,000 601,978,775 601,978,775

- - Diluted 614,064,000 601,978,775 601,978,775

China GrenTech Corporation Limited and Subsidiaries Unaudited Condensed Consolidated Statements of Cash Flows For Three-month Periods ended March 31, 2008 and 2009 (RMB and US$ expressed in thousands) For Three Months Ended March 31, 2008 2009 2009 RMB RMB US$ Net cash used in operating activities (150,035) (103,327) (15,122) Net cash provided by/(used in) investing activities 3,865 (26,358) (3,858) Net cash provided by/(used in) financing activities 46,961 (46,908) (6,865) Effect of exchange rate changes on cash (1,376) (27) (4) Net decrease in cash and cash equivalents (100,585) (176,620) (25,849) For further information, please contact: China GrenTech Corp Ltd. Kent Lo, Investor Relations Manager Tel: +86-755-2650-3007 Email: kentlo@GrenTech.com.cn Taylor Rafferty Delia Cannan Tel: +1-212-889-4350 Email: GrenTech@taylor-rafferty.com Ruby Yim Tel: +852-3196-3712 Email: GrenTech@taylor-rafferty.com Jason Marshall Tel: +1-212-889-4350 Email: GrenTech@taylor-rafferty.com

China GrenTech Corporation Limited

CONTACT: China GrenTech Corp Ltd., Kent Lo, Investor Relations Manager,
+86-755-2650-3007, kentlo@GrenTech.com.cn or Taylor Rafferty, Delia Cannan,
+1-212-889-4350, GrenTech@taylor-rafferty.com and Ruby Yim, +852-3196-3712,
GrenTech@taylor-rafferty.com and Jason Marshall, +1-212-889-4350,
GrenTech@taylor-rafferty.com, all for China GrenTech Corp Ltd.

Web site: http://www.grentech.com.cn/

Berliner Communications Announces Fiscal 2009 Third Quarter Financial Results

ELMWOOD PARK, N.J., May 14 /PRNewswire-FirstCall/ -- Berliner Communications, Inc. ("BCI" or the "Company") (BULLETIN BOARD: BERL) , an end-to-end provider of outsourced services for the wireless communications industry, today announced financial results for the fiscal 2009 third quarter and the nine months ending March 31, 2009.

Quarterly Highlights: -- Backlog up to $22.7 million, an increase of 134% compared to December 31, 2008 backlog of $9.7 million -- Awarded important services agreement for Cox Communications -- Received significant number of purchase orders related to WiMax 4G roll-out across the country -- Opened Charlotte, NC and Billerica, MA offices, continuing to expand national footprint

Rich Berliner, CEO of BCI, stated, "Our results this quarter reflect the fact that there has been a period of significant transition for us, and our industry. Some of our major customers are transitioning to new networks, including 4G, or WiMax, and, more recently, LTE (long-term evolution) based networks. While our customers are ramping up these major projects, we have maintained a strong and growing platform to support these large-scale projects, but these ramp-ups have taken longer than expected."

"The good news is that our backlog is up dramatically from December 31, 2008. This reflects that fact that work has begun in earnest on 4G network development nationwide. In addition, several other customers have kicked off significant projects this quarter, and because they happened so late in our quarter, we have yet to see the impact on our top or bottom lines. For example, I was pleased to recently announce our new relationship with Cox Communications. We are working in several markets around the country for Cox, and we expect this to be a significant relationship for us, primarily in fiscal 2010 and beyond. I can also announce today our first purchase order for an LTE pre-deployment project. We look forward to many more of these to come."

"I also want to emphasize our long-term business plan, which is clear and unwavering. We do not intend to "cut our way to profitability". We have continued to grow our business organically during this downturn, opening new offices across the country, and hiring quality employees to support our expanding backlog of work. Our backlog is growing because our business plan is working. Our newly hired business development team is winning new business around the country. We are seizing the opportunity to grow our resources and our geographic reach. We are diversifying our customer base and our already broad array of service offerings. I firmly believe we have set the stage for significant long-term success, and that we will begin to see this success next quarter and in fiscal 2010."

Fiscal Third Quarter 2009 Financial Results

For the fiscal 2009 third quarter, total revenue decreased 61% to $11.1 million from $28.7 million for the quarter ended March 31, 2008. This decrease in revenue is related to several factors.

-- Our largest customer during fiscal 2008, Sprint Nextel, cancelled purchase orders beginning in the fourth quarter of fiscal 2008 for work previously awarded to us, and asked us to delay the completion of other purchase orders. These cancellations and delays were related to Sprint's sale of its fourth generation, or 4G, WiMax networks business to Clearwire Communications ("Clearwire"), and were unrelated to our performance on these projects. This significantly impacted our financial results in the quarters ended September 30 and December 31, 2008 and it has continued to negatively impact financial results for the quarter ended March 31, 2009. We have actively sought to replace this work with additional projects from Clearwire and other customers, and have received a number of purchase orders related to the continuation of this work, primarily in the site acquisition and zoning segment of our business. As of March 31, 2009, our backlog was approximately $22.7 million as compared to $15.2 million as of June 30, 2008 and $9.7 million as of December 31, 2008. We believe substantially all of our backlog at March 31, 2009 will be filled before the end of our first quarter of fiscal 2010. We believe the prospects for resumption of the 4G network build-out by Clearwire will present an important opportunity for new business in the fourth quarter of fiscal 2009 and the entire fiscal year 2010. -- Our fiscal third quarter was a period of transition for some of our customers and their projects, and this had a negative impact on our revenue for the quarter. Several of our customers are just beginning large-scale build-outs for new networks. Besides the 4G network build-out, other customers, such as Verizon, are beginning work on new LTE (or Long-Term Evolution) networks. While we are involved with these initiatives, and we have devoted significant time and resources to position ourselves to support these projects, they have not yet begun in earnest. In addition, some of our other wireless carrier customers completed market launches during the third quarter, and while we continue to work for these customers, we saw a decline in work from them immediately after the completion of these market launches.

Going forward, the general downturn in national and global economic conditions may impact us and possibly our customers, subcontractors, vendors and suppliers, but we cannot predict the extent of this impact at this time. We continue to see pricing pressure in some of our service lines, and we believe this is attributable to a shift in our customer base and to a lesser extent general economic conditions. In addition, bidding for some new projects has become more competitive. Therefore, while we do not expect our fourth quarter fiscal 2009 revenue to match our revenue for the same period of fiscal 2008, we do expect it to increase compared to our fiscal 2009 third quarter revenue because of the new business we have been awarded.

Gross profit for the quarter ended March 31, 2009 was $2.3 million, or 21% profit margin, compared to $8.5 million, or 30% profit margin, in the same period in fiscal 2008. In light of the current telecommunications market and economic conditions in general, we have decided to market our services more aggressively than we have in the past. Competition has increased and many of our customers are exploring ways to reduce costs, which has impacted pricing for some services. In addition, we have been awarded a significant amount of work from OEMs and other project management companies that do work for the carriers, which is at a lower profit margin than the work we do directly for our carrier customers. This has led to a decrease in our gross profit margins, which we believe will continue to be lower than our historic margins at least through the end of fiscal 2009.

Selling, general and administrative expenses for the quarter ended March 31, 2009 decreased to $5.0 million from $5.9 million in the prior year quarter. This represents an overall decrease of $0.9 million, which consists primarily of decreases in insurance and professional fees of $0.5 million, rent and other occupancy costs of $0.4 million and payroll related expenses of $0.1 million.

Loss from operations was ($3.0) million compared to income from operations of $2.2 million in the year-ago period. Net loss was ($1.5) million, or ($0.06) per basic and fully diluted weighted average shares outstanding (based on 26.5 million weighted average shares outstanding) compared with net income of $0.9 million, or $0.05 per basic and $0.04 per fully diluted weighted average shares outstanding (based on 17.4 million and 27.6 million weighted average shares outstanding, respectively) for the quarter ended March 31, 2008.

EBITDA*, that is, operating income (loss), less the gain on sale of fixed assets, plus depreciation and amortization expense, was ($2.7) million in the fiscal third quarter 2009, compared to $2.5 million in last year's same period. While EBITDA is a non-GAAP measure, it is an important measure of profitability in the industry, and it is a measure that management uses internally to gauge ongoing performance. A reconciliation of EBITDA to income from operations is as follows:

(Amounts in Thousands) (Unaudited) Three Months Ended March 31, 2009 2008 Income (loss) from Operations $(3,024) $ 2,218 Depreciation and Amortization Expense 323 329 (Gain) on sale of fixed assets (4) - EBITDA $(2,705) $ 2,547 First Nine Months Fiscal 2009 Financial Results

Revenue for the nine months ended March 31, 2009 totaled $38.7 million, compared to $104.0 million during the same period in fiscal 2008. This represents a decrease of $65.2 million, or 63%. This decrease is attributable to the factors outlined above.

Selling, general and administrative expenses for the nine months ended March 31, 2009 decreased to $15.7 million from $19.0 million in last year's same period. This represents an overall decrease of $3.3 million, which consists primarily of decreases in insurance and professional fees of $1.1 million, rent and other occupancy costs of $0.8 million and payroll related expenses of $1.3 million.

Loss from operations for the nine month period was ($5.0) million compared to income from operations of $12.9 million in the year-ago period. Net loss was $2.8 million, or ($0.10) per basic and fully diluted weighted average shares outstanding (based on 26.4 million weighted average shares outstanding, respectively) compared with net income of $6.4 million, or $0.37 per basic and $0.27 per fully diluted weighted average shares outstanding (based on 17.2 million and 27.2 million weighted average shares outstanding, respectively) for the nine months ended March 31, 2008.

EBITDA*, that is, operating income (loss), plus the loss (gain) on sale of fixed assets, plus depreciation and amortization expense, was ($4.1) million in the first nine months of fiscal 2009, compared to $13.7 million, or 13.2% of sales in last year's same period. While EBITDA is a non-GAAP measure, it is an important measure of profitability in the industry, and it is a measure that management uses internally to gauge ongoing performance. A reconciliation of EBITDA to income from operations is as follows:

(Amounts in Thousands) (Unaudited) Nine Months Ended March 31, 2009 2008 Income (loss) from Operations $(5,042) $ 12,851 Depreciation and Amortization Expense 951 841 (Gain) loss on sale of fixed assets (9) 8 EBITDA $(4,100) $ 13,700

At March 31, 2009, the Company had cash and cash equivalents of approximately $3.1 million and net working capital of approximately $14.7 million. The Company's current ratio, that is, current assets over our current liabilities, is 2.6 to 1.

Conference Call:

Management will be hosting a conference call to review the quarterly results at 4:30 PM, today, Thursday, May 14, 2009. Anyone interested in participating should call 877-941-2332 if calling within the United States or 480-629-9723 if calling internationally. A replay will be available until May 28, 2009, which can be accessed by dialing 800-406-7325 if calling within the United States or 303-590-3030 if calling internationally. Please use pass code 4064164 to access the replay. The call will also be accompanied live by webcast over the Internet and accessible at the company's corporate website at http://www.bcisites.com/.

About Berliner Communications, Inc.

Berliner Communications, Inc. and its wholly owned operating subsidiary, BCI Communications, Inc., are headquartered in Elmwood Park, New Jersey. BCI is a nationwide, self performing, full turnkey service vendor to the wireless community. With over 14 years experience, 20 locations across the United States and 400+ employees, BCI designs, builds and installs cell sites and site equipment. In 2008, BCI launched two new groups: a Green Energy Group, to focus on hydrogen fuel cell technologies, solar, wind and battery solutions; and a Cable Services Group, to focus on the backhaul services that connect mobile devices to cable and other broadband networks. For more information about BCI's services, please visit http://www.bcisites.com/.

The statements in this press release, which are not historical fact, 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. Such statements involve risks and uncertainties that could cause actual results to differ materially from our expectations. Such risks and uncertainties include, without limitation, risks detailed in our filings with the United States Securities and Exchange Commission, the risk that future trends we have identified, including, but not limited to our stock price, trading volume, liquidity, and acquisition and organic growth plans do not materialize or if they materialize that they do not have the beneficial effect we anticipate, as well as the risk that we will not be able to achieve our sales and profitability goals. All forward-looking statements in this document are made as of the date hereof, based on information available to us on the date hereof, and we disclaim any intention or obligation to revise any forward-looking statements, including, without limitation, financial estimates, whether as a result of new information, future events or otherwise.

*Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) is a key indicator used by management to evaluate operating performance. While EBITDA is not intended to replace any presentation included in these consolidated financial statements under generally accepted accounting principles (GAAP) and should not be considered an alternative to operating performance or an alternative to cash flow as a measure of liquidity, BCI believes this measure is useful to investors in assessing its capital expenditures and working capital requirements. This calculation may differ in method of calculation from similarly titled measures used by other companies.

BERLINER COMMUNICATIONS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Amounts in thousands) March 31, June 30, 2009 2008 ASSETS (Unaudited) CURRENT ASSETS Cash and cash equivalents $3,067 $3,173 Accounts receivable, net of allowance for doubtful accounts of $732 at March 31, 2009 and $830 at June 30, 2008, respectively 16,011 31,189 Inventories 1,041 1,012 Deferred tax assets - current 2,896 536 Prepaid expenses and other current assets 865 762 23,880 36,672 Property and equipment, net 2,394 2,924 Amortizable intangible assets, net 563 816 Goodwill 2,284 2,084 Deferred tax assets - long-term 2,749 505 Other assets 272 268 Total Assets $32,142 $43,269 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $3,478 $4,820 Accrued liabilities 4,495 11,919 Accrued income taxes - 1,849 Line of credit - 217 Current portion of long-term debt 1,098 1,133 Current portion of capital lease obligations 121 118 9,192 20,056 Long-term debt, net of current portion 26 467 Long-term capital lease obligations, net of current portion 219 305 Other long-term liabilities 110 104 Total liabilities 9,547 20,932 COMMITMENTS STOCKHOLDERS' EQUITY Common stock 1 1 Additional paid-in capital 25,658 22,630 Accumulated deficit (3,064) (294) Total stockholders' equity 22,595 22,337 Total liabilities and stockholders' equity $32,142 $43,269 BERLINER COMMUNICATIONS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Amounts in thousands, except per share data) Three months ended Nine months ended March 31, March 31, 2009 2008 2009 2008 Revenue $11,105 $28,696 $38,726 $103,971 Costs of revenue 8,771 20,207 27,144 71,255 Gross margin 2,334 8,489 11,582 32,716 Selling, general and administrative expenses 5,039 5,942 15,682 19,016 Depreciation and amortization 323 329 951 841 (Gain) loss on sale of fixed assets (4) - (9) 8 Income (loss) from operations (3,024) 2,218 (5,042) 12,851 Other (income) expense Interest expense 57 263 164 952 Amortization of deferred financing fees and accretion of debt discount 15 355 45 1,076 Financing fees - - - 36 Interest income (5) (24) (57) (50) Other (9) (35) (365) (41) Income (loss) before income taxes (3,082) 1,659 (4,829) 10,878 Income tax (benefit) expense (1,540) 759 (2,059) 4,493 Net income (loss) $(1,542) $900 $(2,770) $6,385 Net income (loss) per share: Basic $(0.06) $0.05 $(0.10) $0.37 Diluted $(0.06) $0.04 $(0.10) $0.27 Weighted average number of shares outstanding: Basic 26,516 17,358 26,414 17,174 Diluted 26,516 27,579 26,414 27,176

Berliner Communications, Inc.

CONTACT: Berliner Communications, Inc., Rich Berliner, +1-201-791-3200,
berlinerr@bcisites.com

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

Synopsys Demonstrates DesignWare SuperSpeed USB 3.0 Controller IP at the SuperSpeed USB Developer's ConferenceDemonstration Shows Interoperability of Texas Instruments' Transceiver and Synopsys' DesignWare Digital Controller IP

MOUNTAIN VIEW, Calif., May 14 /PRNewswire-FirstCall/ -- Synopsys, Inc. , a world leader in software and IP for semiconductor design and manufacturing, today announced its DesignWare(R) SuperSpeed USB 3.0 digital controller IP has tested successfully for interoperability with Texas Instrument's (TI) SuperSpeed USB 3.0 transceiver. The companies will demonstrate the joint solution at the upcoming SuperSpeed USB Developers Conference in Tokyo, Japan on May 20-21, 2009.

The demonstration will show real-world SuperSpeed USB data transfer of high-definition video from a PC to a device using the Synopsys DesignWare SuperSpeed USB 3.0 digital controller and TI's SuperSpeed USB 3.0 transceiver. Demonstrating proven multi-vendor interoperability accelerates the development of USB 3.0-enabled devices and allows consumers to benefit from the faster "sync-and-go" capability between PCs and the next generation of portable electronic devices. The DesignWare SuperSpeed USB 3.0 digital controller has also been successfully tested with the TI SuperSpeed USB 3.0 transceiver in the USB Implementers Forum (USB-IF) SuperSpeed Peripheral Interoperability Lab.

"Synopsys provides a robust, high-quality SuperSpeed USB 3.0 IP solution," said Dan Jensen, Connectivity Interface Solutions Manager at TI. "In addition to Synopsys' long history of delivering USB-compliant IP, these elements are important to helping us lower integration risk and ensure our transceiver interoperates with new USB 3.0 products and existing USB 2.0 devices."

"Synopsys is at the forefront of providing IP that enables leading semiconductor companies to incorporate the latest functionality into their advanced integrated circuits," said John Koeter, Vice president of Marketing for the Solutions Group at Synopsys. "By working closely with TI we are enabling designers to take advantage of SuperSpeed USB 3.0 data rates and quickly create innovative products with less risk and improved time-to market."

Availability

The DesignWare SuperSpeed USB 3.0 digital controller is shipping to early adopters now.

To see actual USB 3.0 data transfer in the Synopsys lab and for more information on the complete DesignWare SuperSpeed USB IP solution, including digital controllers, PHY, verification IP, virtual platform and drivers, visit http://www.synopsys.com/usb/.

Also, visit the USB IP blog at http://www.synopsysoc.org/usb-blog/. About DesignWare IP

Synopsys is the leading provider of high-quality, silicon-proven interface and analog IP solutions for system-on-chip designs. Synopsys' broad IP portfolio delivers complete connectivity IP solutions consisting of controllers, PHY and verification IP for widely used protocols such as USB, PCI Express, DDR, SATA, HDMI and Ethernet. The analog IP family includes Analog-to-Digital Converters, Digital-to-Analog Converters, Audio Codecs, Video Analog Front Ends, Power Management solutions and more. In addition, Synopsys offers SystemC transaction-level models to build virtual platforms for rapid, pre-silicon development of software. With a robust IP development methodology, extensive investment in quality and comprehensive technical support, Synopsys enables designers to accelerate time-to-market and reduce integration risk. For more information on DesignWare IP, visit http://www.synopsys.com/designware/.

About Synopsys

Synopsys, Inc. is a world leader in electronic design automation (EDA), supplying the global electronics market with the software, intellectual property (IP) and services used in semiconductor design and manufacturing. Synopsys' comprehensive, integrated portfolio of implementation, verification, IP, manufacturing and field-programmable gate array (FPGA) solutions helps address the key challenges designers and manufacturers face today, such as power and yield management, system-to-silicon verification and time-to-results. These technology-leading solutions help give Synopsys customers a competitive edge in bringing the best products to market quickly while reducing costs and schedule risk. Synopsys is headquartered in Mountain View, California, and has more than 60 offices located throughout North America, Europe, Japan, Asia and India. Visit Synopsys online at http://www.synopsys.com/.

Synopsys and DesignWare are registered trademarks or trademarks of Synopsys, Inc. Any other trademarks or registered trademarks mentioned in this release are the intellectual property of their respective owners.

Editorial Contacts: Sheryl Gulizia Synopsys, Inc. 650-584-8635 sgulizia@synopsys.com Karen Do MCA 650-968-8900 x108 kdo@mcapr.com

Synopsys, Inc.

CONTACT: Sheryl Gulizia of Synopsys, Inc., +1-650-584-8635,
sgulizia@synopsys.com; or Karen Do of MCA, +1-650-968-8900, ext. 108,
kdo@mcapr.com, for Synopsys, Inc.

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

Agnes Crane, Matthew Goldstein and Christopher Swann Join Reuters Commentary Team

NEW YORK, May 14 /PRNewswire/ -- Reuters today announced the hires of Agnes Crane, Matthew Goldstein and Christopher Swann, who with join Reuters newly created commentary team as columnists. Based in New York City, all three will report into Jeffrey Cane, U.S. editor, commentary, and will start on June 8th, June 1st and May 20th, respectively.

Agnes Crane has been on the frontlines in the coverage of the credit crisis. As an editor at Dow Jones Newswires, she led a team of eight reporters who cover the credit markets and debt instruments. She had previously been a reporter for Dow Jones, covering global sovereign debt markets. In 2005, she won a Newswomen's Club of New York Front Page Award for deadline reporting. Agnes was a fixed-income reporter for Market News International and before that had worked as a reporter in Mexico City for four years. She is a graduate of Temple University.

Matthew Goldstein has been one of the most adept reporters covering Wall Street in recent years. He brings to commentary a depth of knowledge and insight on banking, hedge funds and securities regulation. For the last two years, Matthew has been a senior writer for BusinessWeek, writing on Wall Street, hedge funds and regulation. He was the co-author of a cover story on the collapse of the Bear Stearns hedge funds and started the magazine's Unstructured Finance blog. Previously, at TheStreet.com, Matthew broke a number of stories, including the news that the Securities and Exchange Commission was investigating whether brokers were permitting customers to eavesdrop on their firms' internal "squawk box" conversations. His stories on the "squawk box" investigation were a finalist for a Gerald Loeb Award in 2006. Matthew was also a reporter for SmartMoney.com, Crain's New York Business, The New York Law Journal, The Record of Hackensack and The Central New Jersey Home News. A graduate of the University of Rochester, Matthew has a law degree from Fordham.

Christopher Swann joins us from Bloomberg News, where he covered the International Monetary Fund, the World Bank and the U.S. Treasury. He was among the Bloomberg reporters who recently won the Overseas Press Club's Malcolm Forbes Award for the series "Recipe for Famine." Before Bloomberg, Chris worked for the Financial Times for nine years. A graduate of Oxford University, he has a Master's Degree in international relations from Cambridge.

Primarily based in London and New York, the commentary team will also have a presence in the main emerging economies. It will draw on Reuters unparalleled news coverage from its 197 bureaus around the world. Reuters commentators will produce a blog, and the company has hired the well-known financial blogger Felix Salmon to lead that effort. Commentators will also produce short opinionated columns every day on the top stories from around the globe as well as longer columns written both by in-house commentators and external experts and thought leaders. The team, which will consist of approximately 25 journalists, will be led by Jonathan Ford, co-founder of Breakingviews. The European team will be led by Peter Thal Larsen, formerly banking editor of the Financial Times, and the U.S. team will be led by Jeffrey Cane, formerly an editor at Portfolio.com and the New York Times.

"I am very excited to have a team of such talented financial journalists," said Jeffrey Cane, U.S. commentary editor. "They, along with our New York-based financial blogger, Felix Salmon, and our Washington blogger and columnist, James Pethokoukis, will greatly expand the ability of Reuters to offer smart, fact-based opinion on the big stories in the global financial markets."

About Thomson Reuters

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

Thomson Reuters

CONTACT: Courtney Dolan, Head of Public Relations, Editorial,
+1-646-223-8406, courtney.dolan@thomsonreuters.com, or Alexandra Honeysett, PR
Specialist, +44 0 207 542 8509, alexandra.honeysett@thomsonreuters.com, both
for Thomson Reuters

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

comScore Media Metrix Ranks Top 50 U.S. Web Properties for April 2009Swine Flu Concerns Cause Surge in Visitation to CDC.govSocial Networking Category Has Record Month Led by Gains at Twitter and Facebook

RESTON, Va., May 14 /PRNewswire-FirstCall/ -- comScore, Inc. , a leader in measuring the digital world, today released its monthly analysis of U.S. consumer activity at the top online properties for April 2009 based on data from the comScore Media Metrix service. April saw Americans turn to the Web for the latest information related to the swine flu, causing traffic to soar at CDC.gov. The month also saw visitation to social networking sites reach record numbers, driven by growth at Twitter.com and Facebook.com, as well as an increase in visitation to real estate and home-related sites as the spring season prompted many Americans to consider home improvements. The tax category also experienced strong growth as procrastinating Americans tried to beat the April 15 deadline.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO)

"When news of the swine flu pandemic erupted, many Americans turned to the Internet as their primary source of information for how to keep themselves and their families safe," commented Jack Flanagan, executive vice president of comScore Media Metrix. "April also saw a record number of visitors at social networking sites with Facebook and Twitter each adding millions of new users as a result of continued media attention and overall interest in the sites."

Swine Flu Drives Americans Online in Search of Information

News of the swine flu outbreak prompted many concerned Americans to jump online in search of information about prevention, detection and treatment of the virus. The Centers for Disease Control and Prevention's site, CDC.gov, witnessed a 142-percent increase to 5.7 million visitors, making it the top-gaining property in April.

Social Networking Reports Record Visitation

The social networking category experienced a record month, growing 12 percent to nearly 140 million visitors, or nearly three-quarters of the U.S. online population. MySpace Sites led the category with 71 million visitors, followed by Facebook.com with 67.5 million visitors, an increase of 10 percent from the previous month. Twitter.com, now the third ranked social networking site, experienced another explosive month of visitor growth, jumping 83 percent to 17 million visitors.

Americans' Homes Top of Mind in April

Many Americans sought information related to their homes in April with the Real Estate category reporting a 10-percent increase to 48.4 million visitors and the Community - Home category gaining 10 percent to nearly 30 million visitors. Move Network led as the most visited real estate site attracting 13.2 million visitors (up 88 percent vs. March), followed by Yahoo! Real Estate with 6.8 million visitors (up 11 percent) and AOL Real Estate with 3.6 million visitors (up 15 percent).

The start of spring led many Americans to consider home repairs and remodeling, driving traffic to the Community - Home category. About.com Home & Garden led the category with nearly 4 million visitors (up 16 percent), followed by AOL Home with 3.8 million visitors (up 29 percent) and Better Homes & Gardens Network with 3.8 million visitors (up 13 percent).

Top 50 Properties

Google Sites continued to lead as the most visited property in April with more than 155 million visitors, followed by Yahoo! Sites with 149 million visitors and Microsoft Sites with 126.5 million visitors. Facebook.com climbed one spot in the ranking to #8 with 67.5 million visitors.

Top 50 Ad Focus Ranking

Platform-A led the April Ad Focus ranking, reaching 91 percent of the nearly 193 million Americans online. Yahoo! Network ranked second, reaching 87 percent, while Google Ad Network ranked third with an 85 percent reach. Specific Media moved up seven spots to #5 reaching 82 percent, while FOX Audience Network climbed three positions to #6 reaching 77 percent of Americans online.

Table 1 comScore Top 10 Gaining Properties by Percentage Change in Unique Visitors* (U.S.) April 2009 vs. March 2009 Total U.S. - Home, Work and University Locations Source: comScore Media Metrix Total Unique Visitors (000) Rank by Unique Mar-09 Apr-09 %Change Visitors Total Internet : Total Audience 192,173 192,875 0 N/A CDC.gov 2,371 5,736 142 214 CHINAONTV.COM 2,674 6,300 136 185 Move Network 7,002 13,191 88 77 Twitter.com 9,313 17,001 83 56 MLB.com 6,860 12,497 82 87 Betawave Partners - Partial List 3,972 7,145 80 163 Hollywood.Net - Hollywood Online Network 4,821 6,850 42 169 teen.com Network 5,495 7,806 42 145 World Wrestling Entertainment (WWE) 3,774 5,086 35 236 Wikia Sites 3,638 4,892 34 239 *Ranking based on the top 250 properties in April 2009. Table 2 comScore Top 10 Gaining Site Categories* by Percentage Change in Unique Visitors (U.S.) April 2009 vs. March 2009 Total U.S. - Home, Work and University Locations Source: comScore Media Metrix Total Unique Visitors (000) Mar-09 Apr-09 % Change Total Internet : Total Audience 192,173 192,875 0 Community - Teens 19,947 24,142 21 Business/Finance - Taxes 18,311 20,585 12 Social Networking 124,406 139,781 12 Real Estate 43,924 48,357 10 Entertainment - Music 86,817 95,511 10 Community - Home 27,161 29,857 10 Retail - Computer Software 34,346 37,685 10 Retail - Flowers/Gifts/Greetings 28,356 31,019 9 Online Gambling 11,670 12,754 9 Gaming Information 40,637 44,370 9 Table 3 comScore Top 50 Properties (U.S.) April 2009 Total U.S. - Home, Work and University Locations Unique Visitors (000) Source: comScore Media Metrix Unique Visitors Rank Property (000) Total Internet : Total Audience 192,875 1 Google Sites 155,319 2 Yahoo! Sites 149,118 3 Microsoft Sites 126,452 4 AOL LLC 107,469 5 Fox Interactive Media 87,830 6 Ask Network 73,491 7 eBay 72,899 8 FACEBOOK.COM 67,481 9 Wikimedia Foundation Sites 65,461 10 Amazon Sites 62,730 11 Apple Inc. 54,550 12 Glam Media 54,485 13 CBS Interactive 53,473 14 Turner Network 49,719 15 Viacom Digital 47,911 16 New York Times Digital 47,316 17 craigslist, inc. 46,469 18 Weather Channel, The 40,160 19 AT&T Interactive Network 33,670 20 Adobe Sites 33,081 21 Comcast Corporation 32,776 22 Verizon Communications Corporation 32,648 23 Wal-Mart 32,515 24 Superpages.com Network 29,225 25 Answers.com Sites 29,062 26 Demand Media 28,492 27 The Mozilla Organization 27,958 28 Disney Online 27,180 29 Target Corporation 26,961 30 Bank of America 26,736 31 WordPress 26,567 32 Time Warner - Excluding AOL 25,714 33 Gorilla Nation 25,142 34 Photobucket.com LLC 24,939 35 Expedia Inc 24,283 36 AT&T, Inc. 24,009 37 United Online, Inc 23,996 38 Everyday Health 23,668 39 CareerBuilder LLC 23,506 40 iVillage.com: The Womens Network 22,596 41 NBC Universal 21,671 42 WebMD Health 21,605 43 Gannett Sites 21,558 44 ESPN 21,384 45 JPMorgan Chase Property 21,264 46 Monster Worldwide 20,299 47 Weatherbug Property 20,293 48 NetShelter Technology Media 20,164 49 Shopzilla.com Sites 20,061 50 Real.com Network 19,904 Table 4 comScore Ad Focus Ranking (U.S.) April 2009 Total U.S. - Home, Work and University Locations Unique Visitors (000) Source: comScore Media Metrix Unique Visitors Rank Property (000) % Reach Total Internet : Total Audience 192,875 100.0 1 Platform-A** 176,455 91% 2 Yahoo! Network** 167,129 87% 3 Google Ad Network** 164,518 85% 4 ValueClick Networks** 160,307 83% 5 Specific Media** 158,012 82% 6 FOX Audience Network** 149,249 77% 7 Yahoo! Sites 149,118 77% 8 Google 148,511 77% 9 24/7 Real Media** 147,668 77% 10 Traffic Marketplace** 143,519 74% 11 Tremor Media - Potential Reach 141,971 74% 12 Microsoft Media Network US** 139,674 72% 13 Tribal Fusion** 138,274 72% 14 Casale Media - MediaNet** 137,884 71% 15 interCLICK** 134,834 70% 16 YuMe Video Network - Potential Reach 134,608 70% 17 Turn, Inc** 134,028 69% 18 Adconion Media Group** 133,498 69% 19 CPX Interactive** 130,370 68% 20 Collective Network by Collective Media** 129,808 67% 21 ADSDAQ by ContextWeb** 123,534 64% 22 Platform-A Video Network - Potential Reach 121,949 63% 23 AudienceScience (formerly Revenue Science)** 121,001 63% 24 Burst Media** 116,727 61% 25 Digital Broadcasting Group (DBG) - Potential Reach 112,646 58% 26 MSN-Windows Live 111,783 58% 27 AOL Media Network 107,469 56% 28 BrightRoll Video Network - Potential Reach 99,911 52% 29 Undertone Networks** 97,053 50% 30 AdBrite** 91,033 47% 31 YOUTUBE.COM 89,697 47% 32 Pulse 360** 82,574 43% 33 Vibrant Media** 80,779 42% 34 Centro - Potential Reach 75,551 39% 35 NNN Total Newspapers: U.S. 74,415 39% 36 Ask Network 73,491 38% 37 Adify** 73,467 38% 38 Kontera** 72,870 38% 39 Monster Career Ad Network (CAN)** 72,225 37% 40 MYSPACE.COM* 70,954 37% 41 FACEBOOK.COM 67,481 35% 42 ITN Digital - Potential Reach 66,578 35% 43 TattoMedia** 63,379 33% 44 MSN.COM Home Page 57,753 30% 45 IAC Ad Solutions 57,650 30% 46 EBAY.COM 56,319 29% 47 Glam Media 54,485 28% 48 AMAZON.COM 52,058 27% 49 NNN Top 25 50,644 26% 50 Business.com Network 48,692 25% Reach % denotes the percentage of the total Internet population that viewed a particular entity at least once in April. For instance, Yahoo! Sites was seen by 77 percent of the nearly 193 million Internet users in April. * Entity has assigned some portion of traffic to other syndicated entities. ** Denotes an advertising network. About comScore Media Metrix

comScore Media Metrix provides industry-leading Internet audience measurement services that report details of online media usage, visitor demographics and online buying power for the home, work and university audiences across local U.S. markets and across the globe. comScore Media Metrix reports are used by financial analysts, advertising agencies, publishers and marketers. comScore Media Metrix syndicated ratings are based on industry-sanctioned sampling methodologies.

About comScore

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

Photo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com comScore, Inc.

CONTACT: Sarah Radwanick of comScore, Inc., +1-312-775-6538,
press@comscore.com

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

Hickok Incorporated Reports Second Quarter and Fiscal First Half Results

CLEVELAND, Ohio, May 14 /PRNewswire-FirstCall/ -- Hickok Incorporated (OTC Bulletin Board: HICKA), a Cleveland based supplier of products and services for the automotive, emissions testing, locomotive, and aircraft industries, today reported operating results for the second quarter and six months ended March 31, 2009.

For the quarter ended March 31, 2009, the Company recorded a net loss of $2,245,253 or $1.80 per share, compared with a net loss of $474,456 or 38 cents per share, in the same period a year ago. During the current quarter a valuation allowance of $1,645,200 was recorded against the deferred tax assets. Sales in the second quarter were $1,335,056 down 21% from $1,699,468 a year ago.

In the first fiscal half, the Company reported a net loss of $3,390,606 or $2.72 per share, compared with net income of $634,433 or 51 cents per share, in the same period a year ago. Sales were $2,494,119 down 72%, compared to $8,940,880 in last year's first half. During the current six month period a valuation allowance of $1,845,200 was recorded against the deferred tax assets. The prior year first half results were unusually strong due to shipments of equipment to customers participating in the California Evaporative Emissions Testing Program.

Robert L. Bauman, President and CEO, said that the second quarter and first half operating results were disappointing but not completely unexpected due to the automotive and economic crises nearly all companies in our business are experiencing. He went on to say, difficult times require difficult measures and we have laid off employees, reduced all employees' wages and stopped all but the most critical expenditures with a goal of surviving this difficult time. Incorporating a $1,645,200 valuation allowance on our books in the current quarter magnifies an already bad situation but management and the Company's Board of Directors felt it was prudent under the current conditions. Our auditors concurred. This results in magnifying the loss but it doesn't affect our cash availability. Further he said, several sizable projects with OEM's and emissions customers that had been delayed are about to result in substantial orders that are expected to help results in the fourth quarter. He added that other signs seem to point that some of the Company's markets have bottomed out and he was hopeful that an upturn was near.

Backlog at March 31, 2009 was $755,000, a decrease of 21% from the backlog of $957,000 a year earlier. The decrease was due primarily to decreased orders in automotive diagnostic products of approximately $104,000, specifically, $186,000 for diagnostic products to the aftermarket which includes emissions products offset in part by an increase in orders for automotive diagnostic products to automotive OEM's of approximately $82,000. In addition, indicator products decreased by approximately $98,000. The Company anticipates that most of the current backlog will be shipped in the last half of fiscal 2009.

The Company's financial position remains strong, with current assets of $4,322,711 that are 8.2 times current liabilities, and no long-term debt. Working capital at March 31, 2009 totaled $3,795,700 and shareholder's equity was $4,489,775 or $3.60 per share.

Hickok provides products and services primarily for the automotive, emissions testing, locomotive, and aircraft industries. Offerings include the development, manufacture and marketing of electronic and non-electronic automotive diagnostic products used for repair, emission testing, and nut-running electronic controls used in manufacturing processes. The Company also develops and manufactures indicating instruments for aircraft, locomotive and general industrial applications and provides repair training programs.

Certain statements in this news release, including discussions of management's expectations for fiscal 2009, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ from those anticipated as a result of risks and uncertainties which include, but are not limited to, Hickok's ability to effectively develop and market new products serving customers in the automotive aftermarket, overall market and industry conditions, the Company's ability to capitalize on market opportunities as well as the risks described from time to time in Hickok's reports as filed with the Securities and Exchange Commission.

HICKOK INCORPORATED Consolidated Income Statement (Unaudited) 3 MONTHS 6 MONTHS Period ended March 31 2009 2008 2009 2008 --------------------- ---- ---- ---- ---- Net sales $1,335,056 $1,699,468 $2,494,119 $8,940,880 Income (loss) before Income tax (600,053) (746,856) (1,545,406) 1,007,033 Income (recovery of) taxes 1,645,200 (272,400) 1,845,200 372,600 Net income (loss) (2,245,253) (474,456) (3,390,606) 634,433 Basic income (loss) per share (1.80) (.38) (2.72) .51 Diluted income (loss) per share (1.80) (.38) (2.72) .49 Weighted average shares outstanding 1,248,095 1,239,203 1,248,095 1,232,786

Hickok Incorporated

CONTACT: Robert L. Bauman, of Hickok Incorporated, +1-216-541-8060

Web Site: http://www.hickok-inc.com/

Envision Telephony to Launch New Speech Analytics Product at ICMI Contact Center Management Conference and ExpoEnvision Product Launch to Take Place at Leading Event for Contact Center Professionals, June 1-3, 2009 in Austin, Texas

PRINCETON, N.J., May 14 /PRNewswire/ -- The next time you hear "this call may be monitored for quality assurance," think Envision. The company announced today that it will launch their dynamic new speech analytics product at the ICMI Contact Center Management Conference & Expo, taking place June 1-3, 2009 in Austin, Texas. The new product will be less expensive and easier to use than other speech analytics products on the market today, and will streamline the process of capturing, searching and analyzing customer/agent speech data. Envision will demo the new product at the conference in booth G4, as well as release the name and more information on the new product on June 1, 2009.

"We are thrilled to be hosting the launch of Envision's newest speech analytics product," said Fiona Henderson, Executive Director of the event. "ICMI has long been a leader in the call center industry, and our conferences offer the ideal venue for exhibitors to reveal their newest creations to an audience of qualified professionals who are actively seeking innovative solutions to their day-to-day challenges. We look forward to providing our attendees with a 'first look' at this exciting industry offering."

The Contact Center Management (CCM) Conference & Expo is presented by the International Customer Management Institute (ICMI), one of the call center industry's most respected organizations. The ICMI CCM Conference and Expo will take place June 1-3 at the Renaissance Austin Hotel. This year's program will include five different site tours, highly interactive breakout sessions and totally fresh content that will focus on improvement, development and savings.

To register to attend this event, or to find out more about the conference, media registration, and exhibition opportunities, please visit http://www.icmi.com/CCM2009.

About ICMI

The International Customer Management Institute (ICMI) is the leading global provider of comprehensive resources for customer management professionals -- from frontline agents to executives -- who wish to improve customer experiences and increase efficiencies at every level of the contact center. ICMI's experienced and dedicated team of industry insiders, analysts, and consultants are committed to providing uncompromised objectivity and results-oriented vision through the organization's respected lineup of professional services including: Training and Certification, Consulting, Events, and Informational Resources. Founded in 1985, ICMI continues to serve as one of the most established and respected organizations in the call center industry.

About Think Services

Think Services connects specialized communities worldwide using educational events, consulting, training, certification, membership, and innovative media. Providing comprehensive opportunities for people to learn from, network with, and inspire each other, Think Services builds strong brands and works within communities to foster a unique affinity with its products and services. The division's flagship products include the Game Developers Conference, the Webby Award-winning Gamasutra.com, Game Developer magazine, the International Customer Management Institute (ICMI), and HDI. Think Services is a subsidiary of United Business Media, a global media and marketing services company with a market capitalization of more than $1.6 billion. To learn more, visit http://www.think-services.com/.

About Envision

Envision Telephony, Inc. is an award-winning contact center solutions company offering products and services that enable organizations to deliver world-class customer service. Envision Centricity(TM), the company's innovative workforce optimization (WFO) platform, fully integrates Envision's landmark Click2Coach(R) offering (including quality monitoring and e-learning) with powerful analytics, performance management and workforce management capabilities. The result is a robust and highly adaptable WFO suite designed to meet the critical and unique needs of customer-focused organizations worldwide. A commitment to unparalleled customer-centricity is at the center of the company's mission and is what makes Envision the authority on delivering an uncompromising customer experience. Visit http://www.envisioninc.com/, email info@envisioninc.com or call 206.225.0800 ext. 500 for more information.

Think Services/International Customer Management Institute (ICMI)

CONTACT: For ICMI Conferences: Bruce Serbin, +1-954-821-3434,
serbinmedia@bellsouth.net; or For Envision: Theresa Smith, +1-818-704-8481,
tls@pathwaypr.com

Web Site: http://www.think-services.com/

Leading Los Angeles Civil Rights Groups Continue to Raise Domestic Violence Awareness With $75,000 Grant From Verizon

LOS ANGELES, May 14 /PRNewswire/ -- Three Los Angeles civil rights organizations received a $75,000 grant from Verizon on Thursday (May 14) to continue helping members of Southern California's Latino, African-American and Asian communities protect themselves from domestic violence.

Verizon awarded the grant to the Asian Pacific American Legal Center (APALC), Mexican American Legal Defense and Educational Fund (MALDEF) and the Los Angeles Urban League (LAUL), which constitute the Los Angeles Domestic Violence Prevention Collaborative. It was founded in 2007 with the help of $1 million from Verizon.

The $75,000 grant will allow the collaborative to continue to provide linguistically and culturally appropriate domestic violence-prevention education and outreach to the Asian, Latino and African-American communities. In addition to funding direct services, the support from Verizon will allow the three organizations to conduct workshops and presentations to social service providers, parents and youth in all three communities to enhance awareness of domestic violence and promote healthy relationships.

"MALDEF is delighted with Verizon's continuity of commitment, giving us greater ability to provide critically needed information about personal safety, rights and resources to the Latino community," said Henry Solano, MALDEF's interim president and general counsel.

Stewart Kwoh, executive director of APALC, said: "The Asian Pacific American Legal Center thanks Verizon for their continuing support of domestic violence outreach, which is critical to informing victims and their families that there are available alternatives to suffering in silence."

During its first year, the Domestic Violence Prevention Collaborative produced a comprehensive guide to domestic violence resources for the Asian-American, Latino and African-American communities. Verizon's renewed support will allow the guide to be updated so that it includes the latest information and remains an effective tool in preventing domestic violence.

Blair M. Taylor, executive director of LAUL, said: "Domestic violence continues to be the crime behind closed doors in our community. With this grant, Verizon continues to advance its enormous role in eradicating domestic violence in communities of color. They are to be highly commended for their unwavering commitment to the issues that matter in our community."

Tim McCallion, Verizon's West region president, said: "Verizon is once again proud to join with these three leading civil rights organizations to continue to reach out to the victims of violence in culturally relevant ways to help them rise above their circumstances to make a better life for themselves and their children."

The Verizon Foundation, the philanthropic arm of Verizon Communications, supports the advancement of literacy and K-12 education through its free educational Web site, Thinkfinity.org, and fosters awareness and prevention of domestic violence. In 2008, the Verizon Foundation awarded more than $68 million in grants to nonprofit agencies in the U.S. and abroad. It also matched the charitable donations of Verizon employees and retirees, resulting in an additional $26 million in combined contributions to nonprofits. Through Verizon Volunteers, one of the nation's largest employee volunteer programs, Verizon employees and retirees have volunteered more than 3 million hours of community service since 2000. For more information on the foundation, visit http://www.verizonfoundation.org/.

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

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

Verizon

CONTACT: Betty Song, APALC, +1-213-977-7500, ext. 223; Ana Paula Noguez,
MALDEF, +1-213-629-2512, ext. 115; Jacquelyn Horton, LAUL, +1-323-299-9660,
ext. 258; Jesus Torres, Verizon, +1-805-372-6813

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

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

EXFO Launches Comprehensive Layer 1/2/3, CFP-Based 100 Gbit/s Ethernet Compliance TesterHighlights EXFO's commitment to innovative testing solutions that drive rapid prototyping, productization and commercialization of 100 Gbit/s and 40 Gbit/s Ethernet equipment

QUEBEC CITY, May 14 /PRNewswire-FirstCall/ -- EXFO Electro-Optical Engineering Inc. announced today the launch of the IQS-85100G Packet Blazer, a comprehensive CFP-based 100 Gbit/s Ethernet test module that accelerates and simplifies the development and commercialization of 100 Gbit/s and 40 Gbit/s Ethernet equipment. The IQS-85100G empowers transmission equipment and transponder testing teams to efficiently execute multilayer testing to rapidly validate physical-layer characteristics and accurately benchmark Ethernet/IP performance of their products.

With many metro and core transport networks worldwide quickly reaching capacity, carriers are actively seeking strategies to efficiently and cost-effectively scale the transmission of IP packets. 100 Gbit/s and 40 Gbit/s Ethernet technologies-based on the IEEE 802.3ba draft specifications-are specifically intended to facilitate this transition. The most significant concept introduced in this draft standard is the use of parallel optics, which deeply influence the layer 1 implementation, and consequently augments the need for a comprehensive, flexible testing solution that supports all popular CFP-based client interface configurations.

Housed in the IQS-600 Integrated Qualification System platform and developed on a versatile FPGA architecture, the IQS-85100G Packet Blazer is a CFP-based solution offering powerful layer 1/2/3 traffic generation and analysis features to stress and validate network elements and transceivers against demanding corner cases. At layer 1, the IQS-85100G can thoroughly test the physical coding sublayer (PCS) and perform bit-error-rate testing on optical or electrical interfaces. At layers 2 and 3, users can generate and analyze 100 Gbit/s line rate Ethernet and IP packets, as well as perform comprehensive EtherBERTTM tests, all via an intuitive graphical user interface (GUI). With its complete range of test features, the IQS-85100G provides network equipment manufacturers with all the critical elements needed to rapidly productize and commercialize 100 Gbit/s and 40 Gbit/s prototypes with confidence.

To accelerate the adoption of commercially viable 100 Gbit/s Ethernet equipment, EXFO collaborated with Santur Corporation, the first company to ship a CFP-based 100 Gbit/s transceiver with a reach that extends over 10 km. As such, the IQS-85100 is the first 100 Gbit/s Ethernet test solution that can be ordered with Santur's cost-effective CFP transceiver. As transceiver technology becomes available, EXFO will also support additional CFP manufacturers and additional transceiver technologies such as CXPs and QSFP.

"Carriers worldwide have a real and immediate need for larger bandwidth capacity, pressuring equipment manufacturers to bring 100 Gbit/s solutions to market quickly," said Etienne Gagnon, EXFO's Vice-President of Product Management and Marketing. "EXFO has applied decades of testing experience and leadership to offer unrivalled turnkey layer 1/2/3 100 Gbit/s testing, allowing our customers to immediately and confidently move their projects from prototype to commercialization, while protecting their long-term testing investment, regardless of changes in industry standards. The launch of our flagship IQS-85100G Packet Blazer once again highlights our staunch focus on technology innovation to address emerging but critical market needs."

For further information on the IQS-85100G Packet Blazer, please visit http://www.exfo.com/.

About EXFO

EXFO is a leading provider of test and service assurance solutions for network service providers and equipment manufacturers in the global telecommunications industry. The Telecom Division offers a wide range of innovative solutions extending across the full technology lifecycle - from design to technology deployment and onto service assurance - and covering all layers on a network infrastructure to enable triple-play services and next-generation, converged IP networking. The Life Sciences and Industrial Division offers solutions in medical device and opto-electronics assembly, fluorescence microscopy and other life science sectors. For more information, visit http://www.exfo.com/.

EXFO Electro-Optical Engineering Inc.

CONTACT: Vance Oliver, Manager, Investor Relations, (418) 683-0913, Ext.
3733, vance.oliver@exfo.com

Interop Las Vegas Survey Reflects an Increase in Technology Spending Among AttendeesInterop Audience Bucks Current IT Buying Trend, Survey Supports the Value of Live Events

SAN FRANCISCO, May 14 /PRNewswire/ -- Interop(R) today released the results of a pre-show survey that indicates 42 percent of attendees at the upcoming Las Vegas intend to increase spending on technology within their organizations in 2009 as compared to last year. The Interop Las Vegas 2009 pre-show survey goes on to reveal that 95 percent of pre-registered attendees are active purchasers within their companies, interested in areas like virtualization, cloud computing, IT energy conservation, mobility & wireless, and network infrastructure and data center upgrades. Interop Las Vegas is happening May 17-21 at the Mandalay Bay Convention Center in Las Vegas. For more information see http://www.interop.com/.

"Attendees at this year's Interop Las Vegas are anxious to learn about the incredible innovation in today's business technology market and have the buying power to invest in these solutions," said Lenny Heymann, GM of Interop. "The survey is a testament to Interop's commitment of connecting quality buyers with the leading providers of technology solutions, during an important time in the industry."

The Interop survey polled over 900 pre-registered Interop Las Vegas 2009 attendees via email and found the following top line results:

Active Buyer Trends -- 80 percent of Interop Las Vegas 2009 attendee IT budgets will increase or remain flat, while 20 percent will decrease compared with 2008 -- 42 percent of attendees 2009 IT budgets are actually increasing compared with 2008 -- 41 percent of Enterprise 2.0 tech budgets among Interop Las Vegas 2009 attendees will increase for 2009 while 7% will decrease Active Buyer Profile and Interest Areas -- 95 percent of Interop attendees are active in the purchase process -- 88 percent have direct involvement with vendors, up from 68% in 2008 -- 59 percent are currently using, planning to use or considering cloud computing -- 70 percent are interested in learning more about IT energy conservation -- The top 3 reasons they value the Interop event: meeting with a variety of vendors in one place, to see new products and stay up to date on technologies, and to see technology in action through in person demonstrations

Interop Las Vegas 2009 will cover key industry themes and present cost-saving IT solutions to increase revenue and improve competitive advantage. As the largest and most comprehensive business technology event, Interop will feature topics such as cloud computing, virtualization, mobility and Green IT, celebrating innovation within the market.

About the Survey

An email invitation to the online survey was sent to a random sampling of pre-registered Interop Las Vegas 2009 attendees. The survey was fielded by 3rd party research company Decipher, Inc. from April 15th to May 1st, 2009. Results represent 933 respondents. Survey details are available on request.

About Interop(R)

Interop(R) drives the adoption of technology, providing knowledge and insight to help IT and corporate decision-makers achieve business success. Part of TechWeb's family of global brands, Interop is the leading business technology event series. Through in-depth educational programs, workshops, real-world demonstrations and live technology implementations in its unique InteropNet program, Interop provides the forum for the most powerful innovations and solutions the industry has to offer. For more information about these events visit http://www.interop.com/.

About TechWeb

TechWeb, the global leader in business technology media, is an innovative business focused on serving the needs of technology decision-makers and marketers worldwide. TechWeb produces the most respected and consumed media brands in the business technology market. Today, more than 13.3 million* business technology professionals actively engage in our communities created around our global face-to-face events Interop, Web 2.0, Black Hat and VoiceCon; online resources such as the TechWeb Network, Light Reading, Intelligent Enterprise, InformationWeek.com, bMighty.com, and The Financial Technology Network; and the market leading, award-winning InformationWeek, TechNet Magazine, MSDN Magazine, Wall Street & Technology magazines. TechWeb also provides end-to-end services ranging from next-generation performance marketing, integrated media, research, and analyst services. TechWeb is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than $2.5 billion.

*13.3 million business decision-makers: based on # of monthly connections

TechWeb

CONTACT: Natalia Wodecki, PR Manager of TechWeb, +1-415-947-6762,
NWodecki@techweb.com

Web Site: http://www.cmp.com/
http://www.interop.com/

Le leader de la Technical University of Delft en ligne nommé à la toute première Streaming Media Dream Team dans le cadre de l'initiative de saisie de cours magistraux optimisée par Mediasite

MADISON, Wisconsin, May 14 /PRNewswire/ --

- Leon Huijbers reconnu pour la création de Collegerama, l'initiative d'apprentissage en ligne offerte sur le campus de la TU Delft

Sonic Foundry, Inc. (Nasdaq : SOFO), leader du marché reconnu pour la diffusion en ligne de médias riches et la gestion des connaissances, est heureux d'annoncer que Leon Huijbers, de la Technical University of Delft, a été nommé à la Streaming Media Dream Team 2009, la première liste reconnaissant l'excellence des professionnels de la transmission multimédia en Europe.

M. Huijbers a été reconnu pour la création de l'initiative de saisie de cours magistraux de la TU Delft, Collegerama (www.collegerama.nl), conçue sur la plate-forme de diffusion en ligne et de gestion des connaissances Mediasite. Le programme Mediasite de la TU Delft saisit en moyenne 300 heures de contenu chaque mois, et ses 3 500 heures actuelles de présentations sont visionnées plus de 10 000 fois par semaine. Entre 100 et 150 présentations sont diffusées simultanément, et jusqu'à 400 utilisateurs différents peuvent accéder aux présentations en mÃªme temps. Trois ans après son lancement, Collegerama continue de croître sous la direction et la vison de M. Huijbers.

<< La Streaming Media Dream Team de cette année représente la diversité de l'industrie vidéo en ligne d'aujourd'hui, qui va de l'industrie du divertissement à celle de l'éducation et des affaires, et des technologues endurcis aux visionnaires conceptuels >>, a déclaré le rédacteur de Streaming Media, Eric Schumacher-Rasmussen. << La passion de Leon Huijbers pour la vidéo en ligne va au-delà de ses intérÃªts personnels et professionnels ; il cherche avant tout à faire progresser l'ensemble de l'industrie. C'est une vedette, mais il a aussi le sens du travail en équipe. >>

En plus de sa position dans la Dream Team, M. Huijbers est l'un des 10 experts internationaux en médias riches choisis pour siéger au conseil consultatif de Streaming Media Europe. Dans le cadre de ses fonctions, il formulera des recommandations quant aux développements au sein de l'arène internationale de la transmission multimédia, recommandations qui auront une incidence sur les thèmes, le contenu et la direction de la communauté Streaming Media.

<< Il y a seulement quelques années, la saisie de cours magistraux à grande échelle sur notre campus constituait un défi. Grâce à un partenariat durable avec Sonic Foundry, mon équipe a été en mesure de redynamiser l'environnement d'apprentissage numérique et de créer une initiative réussie visant à réunir les univers de l'apprentissage en ligne et sur le campus >>, a expliqué Leon Huijbers, directeur du personnel du département multimédia de la TU Delft. << Le fait d'Ãªtre reconnu par Streaming Media, la publication la plus importante de l'industrie, est un véritable honneur. >>

<< Chez Sonic Foundry, nous avons le privilège de nous associer avec des leaders de la transmission multimédia du monde entier, et Leon figure parmi les meilleurs. Il a fait preuve d'un service et d'un dévouement sans égal dans le cadre de la création de l'initiative de saisie de cours magistraux à la TU Delft >>, a déclaré Rob Lipps, vice-président directeur des ventes chez Sonic Foundry. << Nous sommes fiers des réalisations de Leon, et son admission parmi l'élite des professionnels de la transmission multimédia d'Europe est bien méritée. >>

Pour obtenir de plus de renseignements sur le programme Mediasite de la TU

Delft, veuillez consulter : Communiqué de presse : www.sonicfoundry.com/tudelft/mediasite Ã‰tude de cas : www.sonicfoundry.com/tudelft/casestudy Séminaire en ligne : www.sonicfoundry.com/tudelft/webinar Prix Rich Media Impact Award : www.sonicfoundry.com/tudelft/rmia2008

Ã€ propos de Sonic Foundry(R), Inc.

Sonic Foundry (Nasdaq : SOFO, www.sonicfoundry.com), leader mondial en matière de diffusion en ligne de médias riches et de gestion des connaissances, fournit des solutions de communications en entreprise à plus de 1 500 clients dans les secteurs publics, de l'éducation et des affaires. Optimisée par Mediasite, la plate-forme de diffusion en ligne brevetée qui automatise la saisie, la gestion, la diffusion et la recherche de cours magistraux, de formations en ligne et de séances d'information, Sonic Foundry permet aux personnes de transformer la façon dont ils communiquent. Par l'intermédiaire de la plate-forme Mediasite et de son groupe Events Services, la société aide ses clients à se connecter à un monde de partage des connaissances dynamique et en pleine évolution, et laisse entrevoir un futur oÃ¹ les étudiants et les travailleurs du monde entier pourront utiliser la diffusion en ligne afin d'éliminer les contraintes de temps et de distance, d'accélérer la recherche et d'améliorer leur rendement.

Les noms de produits et de services mentionnés dans le présent communiqué de presse sont des marques de commerce de Sonic Foundry, Inc. ou de leurs propriétaires respectifs.

Sonic Foundry, Inc.

Tammy Kramer de Sonic Foundry, Inc., +1-608-237-8592, tammyk@sonicfoundry.com

TransNet Reports Third Quarter and Nine Month Results

BRANCHBURG, N.J., May 14 /PRNewswire-FirstCall/ -- TransNet Corporation (BULLETIN BOARD: TRNT) , a leading unified communications and IT sales and support provider for corporate, governmental, and educational clients, announced today that for the quarter ended March 31, 2009, the third quarter of fiscal 2009, it reported a net loss of $585,190, or $0.12 per share, on revenue of $5,176,608, as compared to a net loss of $923,490, or $0.19 per share, on revenue of $4,955,174 in the third quarter of fiscal 2008.

For the nine months ended March 31, 2009, the Corporation reported a net loss of $1,765,607, or $0.37 per share. This compares to a net loss of $915,519, or $0.19 per share, for the first nine months of fiscal 2008. Revenue for the nine-month period in fiscal 2009 was $18,885,844, as compared to $21,237,566 in fiscal 2008.

Steven J. Wilk, President, said, "We were pleased with the positive steps we have taken during the quarter ended March 31, 2009 and into our fourth quarter. For the March 2009 quarter, we increased overall revenue, in particular our service revenue, which increased by 20% over the same period last year. We increased overall gross profit, and decreased our SG&A expenses by 20%. We believe we can further decrease expenses as we enhance our automation of processes and procedures, and negotiate better prices with our vendors and business partners. As a result of these steps, we anticipate a return to profitability for the second half of calendar 2009.

"In response to shifts in customer demand from personal computers and basic network related products to their strong demand for video surveillance, physical security and virtualization related products, we are significantly changing our product mix. We are confident that the sale of these products will result in significantly higher profit margins for both hardware and services in the near future, and be the primary reason for a return to strong profitability. For the quarter ended March 31, 2009, our profit margins for services was 17%, and we believe we can increase these margins significantly in the second half of 2009.

"During the last twelve months, we experienced prolonged and significant slowdowns and delays in purchases of IT products and related services from the State of New Jersey, local municipalities, and school districts as budgets were frozen. This was in large part due to the extended process of new contract negotiation between the State and major IT manufacturers. During the March quarter, these contracts were finalized and executed, and we are pleased to report that TransNet has been named as an approved vendor for a significant number of IT, communication, and security products pursuant to these contracts. We believe that sales under these contracts will have a significant and positive impact on our results in the second half of calendar 2009.

"We are very confident that we will experience sequential growth and improvements in our revenue, gross profits, and net income through the remainder of the fiscal year as a result of our changes to address current economic conditions and the new state contracts."

About TransNet

TransNet Corporation is a leading Unified Communications and IT sales and support provider for corporate, educational, and governmental clients. TransNet provides sophisticated solutions, including system design and integration, help-desk support services and end-user training. Its clients include Fortune 100 organizations, primarily in the pharmaceutical, oil and gas, finance and communications industries, as well as educational and governmental institutions. TransNet serves it clients from its Branchburg, New Jersey headquarters, and its offices in Eastern Pennsylvania.

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

The statements contained in this press release that are forward-looking statements are based on current management expectations that involve risk and uncertainties. Potential risks and uncertainties include, without limitation: the impact of economic conditions generally and in the industry for microcomputer products and services; dependence on key vendors; continued competitive and pricing pressures in the industry; product supply shortages; open-sourcing of products of vendors; rapid product improvement and technological change, short product life cycles and resulting obsolescence risks; legal proceedings; capital and financing availability; and other risks set forth in the Company's filings with the Securities and Exchange Commission.

TransNet Corporation and Subsidiary Consolidated Statement of Operations (unaudited) Three Months Ended March 31, 2009 2008 ---------------------------- Revenues $ 5,176,608 $ 4,955,174 Net Income (Loss) (585,190) (923,490) Net Income (Loss) Per Common Share - Basic and Diluted (0.12) (0.19) Weighted Average Common Shares Outstanding: Basic and Diluted 4,823,304 4,823,304 Nine Months Ended March 31, 2009 2008 ---------------------------- Revenues $ 18,885,844 $ 21,237,566 Net Income (Loss) (1,765,607) (915,519) Net Income (Loss) Per Common Share - Basic and Diluted (0.37) (0.19) Weighted Average Common Shares Outstanding: Basic and Diluted 4,823,304 4,823,304

TransNet Corporation

CONTACT: Steven J. Wilk, +1-908-253-0500

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

Spare Backup to Open European Office to Support Growing Marketing Operations

PALM DESERT, California, May 14 /PRNewswire/ --

Spare Backup (OTC Bulletin Board: SPBU) today announced that it has opened a European office to support and grow its presence in online backup throughout Europe. Its European initiatives will be spearheaded by Jonathan Hewett and Tom Barry, two service industry veterans with substantial retail and banking experience. Mr. Hewett, formerly DSGI, PLC's Group Financial Services Director with additional responsibility for the "The Tech Guys" brand, has over 20 years of retail service experience, launching unique programs for companies including Barclays Bank, Royal Mail Group and Sainsbury Banking operation. Mr. Barry was formerly the Managing Director of U.K. Services and Group Financial Services at Dixon's Store Group, PLC, and before that, worked for twelve years at Kingfisher, PLC.

Spare Backup Management intends to capitalize on its growing acceptance among large computer and electronic retail operations in Europe by targeting additional vertical markets including financial services and various retail distribution operations. The offices will also be utilized to support its channel partners to quickly respond to changing marketing platforms and support issues.

As part of their cloud strategy, Spare Backup also offers several cloud computing products.

- Spare Room, which takes documents, photos and music, which are included within your backup, and allows an intuitive and comprehensive approach to share and collaborate. - Spare Mobile backs up PIM information and photos from a cell phone, then automatically sends them to Spare Room for storage, content editing and sharing. - Spare Sync provides synchronization to multiple devices of the user's content from anywhere in the world.

"As our position in Europe continues to grow, it is imperative for Spare Backup to have a full-time presence to leverage our relationships and grow our brand to its fullest," stated Cery Perle, CEO of Spare Backup. "Jonathan and Tom come to Spare Backup with a wealth of knowledge and relationships, developed over their distinguished careers, to forge substantial growth in our current core markets. With this leadership, Spare Backup expects to expand into additional channels, working towards our collective goal of being the online backup service of choice throughout Europe."

Jonathan Hewett added, "This is a tremendously exciting time to be joining Spare Backup as retailers, insurers and customer-focused organizations focus on value added services to grow customer loyalty and margins whilst at the same time differentiating their offers in increasingly commoditized markets."

For additional information, visit http://www.sparebackup.com. For investor relations, please contact our investor relations department at +1-760-779-4241 Ext. 224 or ir@sparebackup.com.

About Spare Backup, Inc.:

Spare Backup, Inc. specializes in helping consumers, small office/home office users and small to mid-sized businesses protect their computer data quickly, automatically and cost-effectively. The company's flagship Spare Backup product is the first totally automated online backup service that intelligently selects, secures and stores files without any user intervention, automatically backing up documents, email, music, photos and other PC files on a continuous basis or according to the schedule of the user's choice. The company is headquartered in Palm Desert, California.

Safe Harbor Statement:

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.

Spare Backup, Inc.

investor relations of Spare Backup, Inc., +1-760-779-4241, ext. 224, ir@sparebackup.com

Light Reading & Heavy Reading's Packet-Optical Transport Evolution Conference Defines the Future of Optical Transport on Tuesday in New York

NEW YORK, May 14 /PRNewswire/ --

- Light Reading and Heavy Reading's Packet-Optical Transport Evolution Conference is the only US optical communications conference focused exclusively on packet and optical convergence and featuring speakers from all of the industry's leading service providers and vendor communities

Light Reading (www.lightreading.com), the leading online publication for the telecom industry, and Heavy Reading (www.heavyreading.com), its prestigious market research division, will be producing their Packet-Optical Transport Evolution conference (www.lightreading.com/packetoptical), on Tuesday, May 19, 2009, in New York, exploring critical issues facing the optical networking industry. Hosted by Heavy Reading Senior Analyst Sterling Perrin and including moderators Derek Medlin, Senior Analyst for Pyramid Research, as well as Chris Nicoll, Consultant for Heavy Reading, Packet-Optical Transport Evolution will include the industry's biggest optical players. Sponsorship opportunities have sold out, and attendance is projected to be between 150 and 200 qualified attendees.

Packet-Optical Transport Evolution will include keynote speakers Felipe J. Alvarez, President of RCN Metro Optical Networks; Dr. Stuart Elby, VP Network Architecture of Verizon; and Rod Naphan, VP Product & Strategic Planning for Fujitsu Network Communications. Additionally, speakers from Abovenet, Level3, XO Communications, ADVA, Ciena, Gridpoint, Infinera, JDSU, MRV, NEC, Nokia Siemens Networks, and Tellabs will be participating on panel sessions.

The goal of the Packet-Optical Transport Evolution conference is to get people talking about how optical networks bring real value to networks and how they ultimately underpin an operator's success in an NGN world. The two-track day will include panel sessions, keynote presentations, and roundtables. Topics to be covered include Strategies for the Winning Architecture for Sonet-to-Packet Migration; Optical Switching in the Packet World; Packet-Optical Transport for Mobile Operators; Building the Ecosystem for Packet-Optical Transport; Strategies for Migrating to 40G & 100GigE; Understanding the Role of Connection-Oriented-Ethernet in Packet-Optical Transport; and Converging Ethernet & the Transport Network.

"IP and Ethernet are fundamentally changing the nature of telecommunications. Network operators around the world recognize that converging the packet and optical layers -- known as packet optical transport -- is the inevitable future of transport. Packet Optical Transport Evolution uniquely brings together the leaders in the packet optical transport migration -- the suppliers creating the technology and the operators that use it -- who are driving the next-generation of optical transport," said Sterling Perrin, Senior Analyst, Heavy Reading, and Conference Chair.

Building off the success of the Packet-Optical Transport Evolution conference, Light Reading and Heavy Reading will launch their first optical virtual tradeshow, the Packet-Optical Transport Evolution Virtual Tradeshow, on July 14, 2009. The Packet-Optical Transport Evolution Virtual Tradeshow will have all the characteristics of a live event and more, including an auditorium with panel sessions, keynote speakers, video presentations, live Q&A, customizable exhibitor booths with chat features, and a virtual lounge. Registration for the Packet-Optical Transport Evolution Virtual Tradeshow is guaranteed at 1,000.

Press and analyst registration at the Packet-Optical Transport Evolution conference is free, as is attendance for qualified attendees. To register please visit: www.lightreading.com/packetoptical Contact: Amy Averbook Director of Corporate Marketing Light Reading Inc. averbook@lightreading.com +1-212-925-0020 x112

About Light Reading

Founded in 2000, Light Reading (www.lightreading.com) is the leading online media, research, and focused event company serving the US$3 trillion worldwide communications market. Lightreading.com is the ultimate source for technology and financial analysis of the communications industry, leading the media sector in terms of traffic, content, and reputation. Light Reading's research arms, Heavy Reading and Pyramid Research, provide the most comprehensive communications research, market data, and technology analysis in close to 100 markets around the world. Light Reading produces nearly 20 targeted communications events including TelcoTV, Ethernet Expo New York and Ethernet Expo London, The Tower Summit @ CTIA, and Optical Expo, as well as focused one-day events tailored for cable, mobile, and wireline executives. Light Reading was acquired by United Business Media in August 2005 and operates as a unit of TechWeb.

About TechWeb

TechWeb (http://techweb.com/aboutus), the global leader in business technology media, is an innovative business focused on serving the needs of technology decision-makers and marketers worldwide. TechWeb produces the most respected and consumed media brands in the business technology market. Today, more than 13.3 million* business technology professionals actively engage in our communities created around our global face-to-face events, Interop, Web 2.0, Black Hat, and VoiceCon; online resources such as the TechWeb Network, Light Reading, Intelligent Enterprise, InformationWeek.com, bMighty.com, and The Financial Technology Network; and the market leading, award-winning InformationWeek, TechNet Magazine, MSDN Magazine, and Wall Street & Technology magazines. TechWeb also provides end-to-end services including next-generation performance marketing, integrated media, research, and analyst services. TechWeb is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than US$2.5 billion.

*13.3 million business decision-makers: based on number of monthly connections

About United Business Media Limited

United Business Media Limited (UBM) is a global media and marketing services company that informs markets and brings the world's buyers and sellers together at events, online, in print, and with the information they need to do business successfully. UBM serves professional and commercial communities, from IT professionals to doctors, from journalists to jewelry dealers, from farmers to pharmacists around the world. UBM employs more than 6,500 people in more than 30 countries. UBM's businesses operating in the US include CMPMedica, Commonwealth Business Media, Everything Channel, PR Newswire, RISI, TechInsights, TechWeb and Think Services. UBM is listed on the London Stock Exchange (UBM.L) and has a market capitalization of US$2.5 billion. (www.unitedbusinessmedia.com)

Light Reading

Amy Averbook, Director of Corporate Marketing of Light Reading Inc., +1-212-925-0020 x112, averbook@lightreading.com