Optical Systems, Inc. Launches Cutting-Edge GPS System for Auto Dealerships More Robust Than LoJack

DALLAS, July 29 /PRNewswire-FirstCall/ -- Optical Systems, Inc. (Pink Sheets: OPSY), a leading provider of software and services for the automotive retail industry today announced the launch of Save-a-Car GPS, a cost-effective, global positioning system for auto dealerships to monitor and track inventory.

"Save-a-Car is a low-cost, robust tracking system that represents a huge market opportunity for our company," said B.J. Grisaffi, CEO of Optical Systems, Inc. "There has been a lot of enthusiasm, excitement and positive feedback about Save-a-Car from dealerships. In today's market, dealers need scalable products that have a solid return on investment. Save-a-Car is a state-of-the art GPS system that helps dealers track inventory and maximize profit potential like never before. This small, covert system can be sold to the customer as a theft and tracking device that is much more robust than LoJack and available with no monthly fee. Our system works nationwide, where LoJack only works in certain areas," said Grisaffi.

In addition to offering superior tracking capabilities, Save-a-Car also allows drivers to save up to 35 percent on their insurance premium when installed.

Growing usage in automotive and consumer applications is propelling the mobile location technologies market, which is forecasted to grow at a CAGR of more than 20 percent to cross US$ 75 Billion by 2013, says "World GPS Market Forecast to 2013," a new market research report by RNCOS.

"We already have more than 30 dealerships enrolled in our Save-a-Deal and Business Development Center programs," said Grisaffi. "Save-a-Car is a complimentary and standalone product that can easily be integrated into our existing programs. We are optimistic that we will be able to leverage our existing customer base and generate sales for this new, exciting product and bring substantial revenue to Optical."

Save-a-Car is currently available through the Company's operating subsidiary, Automotive Software Designers.

About Optical Systems, Inc.

Optical Systems, Inc., through its operating subsidiary, Automotive Software Designers, Inc., develops technology and services for the automotive retail industry designed to maximize productivity and increase profits at auto dealerships. ASDI's flagship technology solution, Save-a-Deal, is a turnkey customer relationship management (CRM) tool for auto dealerships. Our business development center (BDC) provides a variety of services designed to help auto dealerships drive traffic to their showroom or Web site, retain customers and generate new streams of revenue. For more information, visit http://www.opticalsystemsinc.com/

Safe Harbor Statement

This release includes forward-looking statements. Statements contained in this Release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested may be identified from time to time. The Company does not undertake any obligations to update forward-looking statements made by it. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company. For additional information, see our website: http://www.opticalsystemsinc.com/

Contact: Ray Rogers 877 781 2030 invest@a-s-d-i.org

Optical Systems, Inc.

CONTACT: Ray Rogers, 1-877-781-2030, invest@a-s-d-i.org, for Optical
Systems, Inc.

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

Flextronics Announces First Quarter Results

SINGAPORE, July 29 /PRNewswire-FirstCall/ -- Flextronics today announced results for its first quarter ended July 3, 2009 as follows:

(US$ in millions, except EPS) Three Month Periods Ended --------------------------------- July 3, March 31, 2009 2009 --------------- --------------- Net sales $ 5,783 $ 5,583 GAAP operating income $ 10 $ (109) Adjusted operating income (1) $ 90 $ 51 GAAP net loss $ (154) $ (249) Adjusted net income (1) $ 63 $ 22 GAAP EPS $ (0.19) $ (0.31) Adjusted EPS (1) $ 0.08 $ 0.03 (1) A reconciliation of non-GAAP financial measures to GAAP financial measures is presented in Schedule II attached to this press release. First Quarter Results

Net sales for the first quarter ended July 3, 2009 were $5.8 billion compared to net sales for the quarter ended March 31, 2009 of $5.6 billion. Adjusted operating income for the first quarter ended July 3, 2009 was $90.2 million with an adjusted operating margin of 1.6%, compared to adjusted operating income of $50.6 million and an adjusted operating margin of 0.9% for the prior quarter. Adjusted net income for the first quarter ended July 3, 2009 was $63.1 million and adjusted EPS was $0.08, compared to $21.7 million and $0.03, respectively, for the March 31, 2009 quarter.

In connection with its previously announced restructuring plans, the Company expected to recognize between $220 million and $250 million of pre-tax restructuring charges, with total cash expenditures expected to be between $130 million and $150 million. During the first quarter ended July 3, 2009, Flextronics recognized $65 million of pretax restructuring charges comprised of $33 million of cash charges primarily related to employee severance costs and $32 million of non-cash asset impairment charges. As of the quarter ended July 3, 2009, the cumulative charges of the restructuring plans were $215 million comprised of $128 million in cash and $87 million in non-cash charges. The remaining charges are expected to be incurred over the course of fiscal year 2010.

Additionally during the first quarter ended July 3, 2009, Flextronics recorded a $107 million non-cash charge to impair certain non-core investments and notes receivable to the estimated recoverable value. The Company anticipates monetizing select non-core assets during the remainder of fiscal 2010.

Cash and cash equivalents totaled $1.7 billion at July 3, 2009. During the first quarter ended July 3, 2009, Flextronics generated $107 million of operating cash flow and $68 million of free cash flow (defined as net cash provided by operating activities, less purchases of property & equipment, net of dispositions). Also during the quarter ended July 3, 2009, Flextronics further strengthened its capital structure by repurchasing an aggregate principal amount of $100 million of its 6.5% Senior Subordinated Notes due 2013 and an aggregate principal amount of $100 million of its 6.25% Senior Subordinated Notes due 2014 and secured a consent to modify certain modifications of the indentures for both notes.

"Flextronics exhibited strong execution and achieved our objectives for the quarter," said Mike McNamara, chief executive officer of Flextronics. "We have worked quickly to adapt to current market conditions and strategically position the Company for improving profitability. While stabilization of demand has improved, we expect a muted economic recovery in the near term. We will continue to focus on what we can control and influence, and believe that our vision, strategy and execution are producing results."

"Our execution around restructuring and other discretionary spend control was excellent this quarter, and our operating margins benefited from our efforts in this area," said Paul Read, chief financial officer of Flextronics. "In addition, we further reduced inventory by $325 million, achieved a cash cycle of 19 days, generated free cash flow of $68 million, and strengthened our capital structure through our senior debt reduction of $200 million. We remain focused on positively impacting all areas within our control."

Guidance

Flextronics's guidance reflects the challenging demand environment and the anticipated benefits of the actions the company has taken to reduce costs and restructure the business. For the second quarter ending October 2, 2009, revenue is expected to be in the range of $5.2 billion to $6.0 billion and adjusted EPS is expected to be in the range of $0.07 to $0.11 per share.

GAAP earnings per share are expected to be lower than the guidance provided herein by approximately $0.07 per diluted share for estimated restructuring activities, quarterly intangible amortization, stock-based compensation expense and non-cash interest expense.

Conference Calls and Web Casts

A conference call hosted by Flextronics's management will be held today at 5:00 p.m. EDT / 2:00 p.m. PDT to discuss the Company's financial results for the first quarter ended July 3, 2009.

The conference call will be broadcast via the Internet and may be accessed by logging on to the Company's website at http://www.flextronics.com/. Additional information in the form of a slide presentation may also be found on the Company's site. A replay of the broadcast will remain available on the Company's website afterwards.

Minimum requirements to listen to the broadcast are Microsoft Windows Media Player software (free download at http://www.microsoft.com/windows/windowsmedia/download/default.asp) and at least a 28.8 Kbps bandwidth connection to the Internet.

About Flextronics

Headquartered in Singapore (Singapore Reg. No. 199002645H), Flextronics is a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to automotive, computing, consumer, industrial, infrastructure, medical and mobile OEMs. Flextronics helps customers design, build, ship, and service electronics products through a network of facilities in 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market. For more information, please visit http://www.flextronics.com/.

This press release contains forward-looking statements within the meaning of U.S. securities laws, including statements related to future expected revenues and earnings per share. These forward-looking statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements. These risks include that future revenues and earnings may not be achieved as expected; the risks to our particular electronics and technology sector of economic instability and a slowdown in consumer spending, particularly given the current economic conditions; the effects of customer or supplier bankruptcies or insolvency; the effects that current credit and market conditions could have on the liquidity and financial condition of customers or suppliers, including any impact on their ability to meet contractual obligations to us on terms and conditions previously negotiated; the effects that the current macroeconomic environment could have on our liquidity and ability to access credit markets; our dependence on industries that continually produce technologically advanced products with short life cycles; our ability to respond to changes in economic trends, to fluctuations in demand for customers' products and to the short-term nature of customers' commitments; competition in our industry, particularly from ODM suppliers in Asia; our dependence on a small number of customers for the majority of our sales and our reliance on strategic relationships with major customers; the challenges of effectively managing our operations, including our ability to manage manufacturing processes, control costs and manage changes in our operations; the challenges of integrating acquired companies and assets; not obtaining anticipated new customer programs, or that if we do obtain them, that they may not contribute to our revenue or profitability as expected or at all; our ability to utilize available manufacturing capacity; the risk of future restructuring charges that could be material to our financial condition and results of operations; our ability to design and quickly introduce world-class components products that offer significant price and/or performance advantages over competitive products; the impact on our margins and profitability resulting from substantial investments and start-up and integration costs in our components, design and ODM businesses; production difficulties, especially with new products; changes in government regulations and tax laws, including any effects related to the expiration of tax holidays; not realizing expected returns from our retained interests in divested businesses; our exposure to potential litigation relating to intellectual property rights, product warranty and product liability; our dependence on the continued trend of outsourcing by OEMs; supply shortages of required electronic components; the challenges of international operations, including fluctuations in exchange rates beyond hedged boundaries leading to unexpected charges; our dependence on our key personnel; and our ability to comply with environmental laws. Additional information concerning these and other risks is described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our reports on Form 10-K, 10-Q and 8-K that we file with the U.S. Securities and Exchange Commission. The forward-looking statements in this press release are based on current expectations and Flextronics assumes no obligation to update these forward-looking statements.

SCHEDULE I FLEXTRONICS INTERNATIONAL LTD. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) Three Month Periods Ended ----------------------------- July 3, March 31, 2009 2009 (5) ----------- ----------- GAAP: Net sales $5,782,679 $5,582,524 Cost of sales 5,506,575 5,344,844 Restructuring charges 52,109 128,817 ----------- ----------- Gross profit 223,995 108,863 Selling, general and administrative expenses 201,692 195,825 Restructuring charges 12,730 21,753 ----------- ----------- Operating income (loss) 9,573 (108,715) Intangible amortization 23,334 27,696 Other expense, net 107,399 74,129 Interest and other expense, net 36,886 56,567 Loss before income taxes (158,046) (267,107) Provision for income taxes (4,003) (17,858) ----------- ----------- Net income (loss) $ (154,043) $ (249,249) =========== =========== EPS: GAAP $ (0.19) $ (0.31) =========== =========== Non-GAAP $ 0.08 $ 0.03 =========== =========== Diluted shares used in computing GAAP per share amounts 810,174 809,608 =========== =========== Diluted shares used in computing non-GAAP per share amounts 814,922 809,742 =========== =========== See Schedule II for the reconciliation of GAAP to non-GAAP financial measures. See the accompanying notes on Schedule IV attached to this press release. SCHEDULE II FLEXTRONICS INTERNATIONAL LTD. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (1) (In thousands, except per share amounts) (unaudited) Three Month Periods Ended ------------------------------------- July 3, % of March 31, % of 2009 Sales 2009 (5) Sales ------------------------------------- GAAP gross profit $223,995 3.9% $108,863 2.0% Stock-based compensation expense 2,733 2,662 Distressed customer charges (2) (18,142) (5,232) Restructuring and other charges (3) 52,109 128,817 ----------- ----------- Non-GAAP gross profit $260,695 4.5% $235,110 4.2% =========== =========== GAAP SG&A Expenses $201,692 3.5% $195,825 3.5% Stock-based compensation expense 13,052 6,092 Distressed customer charges (2) 18,142 5,232 ----------- ----------- Non-GAAP SG&A Expenses $170,498 2.9% $184,501 3.3% =========== =========== GAAP operating income (loss) $9,573 0.2% $(108,715) -1.9% Stock-based compensation expense 15,785 8,754 Restructuring and other charges (3) 64,839 150,570 ----------- ----------- Non-GAAP operating income $90,197 1.6% $50,609 0.9% =========== =========== GAAP net loss $(154,043) -2.7% $(249,249) -4.5% Stock-based compensation expense 15,785 8,754 Restructuring and other charges (3) 64,798 150,570 Investment and notes impairment (4)107,440 74,129 Non-cash convertible debt interest expense (5) 8,049 9,452 Intangible amortization 23,334 27,696 Adjustment for taxes (2,253) 319 ----------- ----------- Non-GAAP net income $63,110 1.1% $21,671 0.4% =========== =========== GAAP provision for income taxes $(4,003) -0.1% $(17,858) -0.3% Restructuring and other charges 410 (2,657) Intangible amortization 1,843 2,338 ----------- ----------- Non-GAAP provision for income taxes $(1,750) 0.0% $(18,177) -0.3% =========== =========== EPS: GAAP $(0.19) $(0.31) =========== =========== Non-GAAP $0.08 $0.03 =========== =========== See the accompanying notes on Schedule IV attached to this press release. SCHEDULE III FLEXTRONICS INTERNATIONAL LTD. AND SUBSIDIARIES UNAUDITED GAAP CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) July 3, March 31, 2009 2009 (5) ------------------------- ASSETS Current Assets: Cash and cash equivalents $ 1,676,579 $ 1,821,886 Accounts receivable, net 2,066,718 2,316,939 Inventories 2,671,419 2,996,785 Other current assets 722,733 799,396 ------------ ------------ 7,137,449 7,935,006 Property and equipment, net 2,226,362 2,333,781 Goodwill and other intangibles, net 302,373 291,491 Other assets 736,671 756,662 ------------ ------------ $10,402,855 $11,316,940 ============ ============ LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Bank borrowings, current portion of long-term debt and capital lease obligations $ 19,704 $ 19,358 Zero Coupon Convertible Junior Subordinated Notes due 2009 193,346 189,045 Accounts payable 3,631,524 4,049,534 Other current liabilities 1,966,341 2,150,834 ------------ ------------ Total current liabilities 5,810,915 6,408,771 Long-term debt, net of current portion: Acquisition Term Loan due 2012 and 2014 1,688,484 1,692,024 6 1/2 % Senior Subordinated Notes due 2013 299,806 399,622 6 1/4 % Senior Subordinated Notes due 2014 302,172 402,090 1 % Convertible Subordinated Notes due 2010 222,225 218,391 Other long-term debt and capital lease Obligations 21,157 21,553 Other liabilities 312,310 313,321 Total shareholders' equity 1,745,786 1,861,168 ------------ ------------ $10,402,855 $11,316,940 ============ ============ See the accompanying notes on schedule IV attached to this press release. SCHEDULE IV FLEXTRONICS INTERNATIONAL LTD. AND SUBSIDIARIES NOTES TO SCHEDULES I, II, & III (1) To supplement Flextronics' unaudited selected financial data presented on a basis consistent with Generally Accepted Accounting Principles ("GAAP"), the Company discloses certain non-GAAP financial measures that exclude certain charges, including non-GAAP gross profit, non-GAAP selling, general and administrative expenses, non-GAAP operating income, non-GAAP net income and non-GAAP net income per diluted share. These supplemental measures exclude, among other items, stock-based compensation expense, restructuring charges, intangible amortization, financially distressed customer charges, non-cash convertible debt interest expense and certain other items. These non-GAAP measures are not in accordance with or an alternative for GAAP, and may be different from non-GAAP measures used by other companies. We believe that these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Flextronics's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Flextronics's results of operations in conjunction with the corresponding GAAP measures. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP measures. We compensate for the limitations of non-GAAP financial measures by relying upon GAAP results to gain a complete picture of Company performance. In calculating non-GAAP financial measures, we exclude certain items to facilitate a review of the comparability of the Company's operating performance on a period-to-period basis because such items are not, in our view, related to the Company's ongoing operational performance. We use non-GAAP measures to evaluate the operating performance of our business, for comparison with forecasts and strategic plans, for calculating return on investment, and for benchmarking performance externally against competitors. In addition, management's incentive compensation is determined using certain non-GAAP measures. Also, when evaluating potential acquisitions, we exclude certain of the items described below from consideration of the target's performance and valuation. Since we find these measures to be useful, we believe that investors benefit from seeing results "through the eyes" of management in addition to seeing GAAP results. We believe that these non-GAAP measures, when read in conjunction with the Company's GAAP financials, provide useful information to investors by offering: -- the ability to make more meaningful period-to-period comparisons of the Company's on-going operating results; -- the ability to better identify trends in the Company's underlying business and perform related trend analyses; -- a better understanding of how management plans and measures the Company's underlying business; and -- an easier way to compare the Company's operating results against analyst financial models and operating results of competitors that supplement their GAAP results with non-GAAP financial measures. The following are explanations of each of the adjustments that we incorporate into non-GAAP measures, as well as the reasons for excluding each of these individual items in the reconciliations of these non-GAAP financial measures: Stock-based compensation expense consists of non-cash charges for the estimated fair value of stock options and unvested share bonus awards granted to employees and assumed in business acquisitions. The Company believes that the exclusion of these charges provides for more accurate comparisons of its operating results to peer companies due to the varying available valuation methodologies, subjective assumptions and the variety of award types. In addition, the Company believes it is useful to investors to understand the specific impact the application of SFAS 123R has on its operating results. Restructuring charges include severance, impairment, lease termination, exit costs and other charges primarily related to the closures and consolidations of various manufacturing facilities. These costs may vary in size based on the Company's acquisition and restructuring activities, are not directly related to ongoing or core business results, and do not reflect expected future operating expenses. These costs are excluded by the Company's management in assessing current operating performance and forecasting its earnings trends, and are therefore excluded by the Company from its non-GAAP measures. Distressed customer charges are comprised of additional provisions for doubtful accounts receivable, inventory and related obligations for customers that are experiencing significant financial difficulties. These costs are excluded by the Company's management in assessing its current operating performance and forecasting its earnings trends, and accordingly, are excluded by the Company from its non-GAAP measures. Intangible amortization consists of non-cash charges that can be impacted by the timing and magnitude of acquisitions. The Company considers its operating results without these charges when evaluating its ongoing performance and forecasting its earnings trends, and therefore excludes such charges when presenting non-GAAP financial measures. The Company believes that the assessment of its operations excluding these costs is relevant to its assessment of internal operations and comparisons to the performance of its competitors. Other charges or gains consists of various other types of items that are not directly related to ongoing or core business results, such as impairment charges associated with non-core investments and notes receivable and gains on the extinguishment of debt. We exclude these items because they are not related to the Company's ongoing operations performance or do not affect core operations. Excluding these amounts provide investors with a basis to compare Company performance against the performance of other companies without this variability. Non-cash convertible debt interest expense consists of interest expense recorded as a result of the adoption of FSP APB14-1 "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion". The Company considers its operating results without these charges when evaluating its ongoing performance and forecasting its earnings trends, and therefore excludes such charges when presenting non-GAAP financial measures. The Company believes that the assessment of its operations excluding theses costs is relevant to its assessment of internal operations and comparisons to the performance of its competitors. Adjustment for taxes relates to the tax effects of the various adjustments that we incorporate into non-GAAP measures in order to provide a more meaningful measure on non-GAAP net income. (2) During the twelve-month period ended March 31, 2009, the Company recognized charges primarily for provisions for doubtful accounts receivable, the write-down of inventory and recognition of associated contractual obligations associated with certain customers that are currently experiencing significant financial and liquidity difficulties. During the first fiscal quarter of 2010, the Company revised its initial estimates between charges associated with the write-off of inventory and provisions for doubtful accounts receivable with no net operating income impact. During the three-month period ended March 31, 2009, the Company revised its initial fiscal 2009 prior quarters estimates between charges associated with the write-off of inventory and provisions for doubtful accounts receivable with no net operating income impact. (3) During the three-month period ended July 3, 2009, and the three-month period ended March 31, 2009, the Company recognized restructuring charges as a result of deteriorating macroeconomic conditions. The global economic crisis and related decline in the Company's customers' products across all of the industries it serves, has caused the Company's OEM customers to reduce their manufacturing and supply chain outsourcing and has negatively impacted the Company's capacity utilization levels. The Company's restructuring activities, which include employee severance, costs related to owned and leased facilities and equipment that are no longer in use and are to be disposed of, and other costs associated with the exit of certain contractual arrangements due to facility closures, are intended to improve its operational efficiencies by reducing excess workforce and capacity. In addition to the cost reductions, these activities will result in further shift of manufacturing capacity to locations with higher efficiencies and, in most instances, lower costs. (4) During the three-month period ended July 3, 2009, and the three-month period ended March 31, 2009, the Company impaired its carrying value in a certain non-core investment and notes receivable due to a reduction in estimated recoverability. (5) On April 1, 2009, the Company adopted FASB Staff Position No. APB 14-1, "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" ("FSP APB 14-1"), which was required to be applied retrospectively. The adoption of FSP APB 14-1 affected the accounting for the Company's 1% Convertible Subordinated Notes and Zero Coupon Convertible Junior Subordinated Notes by requiring the initial proceeds from their sale to be allocated between a liability component and an equity component in a manner that results in interest expense on the debt component at the Company's nonconvertible debt borrowing rate on the date of issuance. Upon adoption of FSP APB 14-1, the Company recorded the change in accounting principle from adopting FSP APB 14-1 as a cumulative effect adjustment to the opening balance of Accumulated deficit as of March 31, 2009 totaling approximately $225 million and a discount to the carrying value of the convertible debt notes of $27.5 million. The corresponding increase in the recorded value of Ordinary shares was approximately $252 million. The adoption of FSP APB 14-1 had no impact on the Company's consolidated cash flows. Below is a summary of the financial statement effects of implementing FSP APB 14-1 on the affected notes and interest expense. Zero Coupon 1% Convertible Convertible Junior Subordinated Notes Subordinated Notes ---------------------------------------------- Balance Sheet: July 3, March 31, July 3, March 31, 2009 2009 2009 2009 ----------- ----------- ----------- ----------- (In thousands) Principal amount of Notes $ 239,993 $239,993 $195,000 $195,000 Unamortized discount (17,768) (21,602) (1,654) (5,955) ----------- ----------- ----------- ----------- Net carrying amount of Notes $ 222,225 $218,391 $193,346 $189,045 =========== =========== =========== =========== Three Months Ended Three Months Ended ----------------------- ----------------------- Income Statement: July 3, March 31, July 3, March 31, 2009 2009 2009 2009 ----------- ----------- ----------- ----------- (In thousands) Amortization of discount net of adjustments to deferred financing costs $ 3,732 $ 5,208 $ 4,317 $ 4,244 =========== =========== =========== =========== The adoption of FSP APB 14-1 had a negative $0.01 impact on basic and diluted GAAP earnings per share in both the quarters ended July 3, 2009 and March 31, 2009.

Flextronics

CONTACT: Investor Relations, Warren Ligan or Cindy Klimstra,
+1-408-576-7172, investor_relations@flextronics.com, or Renee Brotherton, Vice
President, Corporate Communications, +1-408-576-7189,
renee.brotherton@flextronics.com, all of Flextronics

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

WPCS Reports FY2009 Fourth Quarter and Year End Financial Results

EXTON, Pa., July 29 /PRNewswire-FirstCall/ -- WPCS International Incorporated , a leader in design-build engineering services for communications infrastructure, today announced financial results for its fourth quarter and year end April 30, 2009. For the fourth quarter ended April 30, 2009, WPCS reported revenue of $24.7 million compared to $26.7 million a year ago and net income was $293,000 or $0.04 per diluted share compared to net income of $921,000 or $0.13 per diluted share for the same period in the prior year. For the fiscal year ended April 30, 2009, WPCS reported revenue of $107.1 million compared to $101.4 million during the fiscal year ended April 30, 2008, which represents a 6% increase. Net income for fiscal year ended April 30, 2009 was $1.7 million or $0.23 per diluted share compared to $4.1 million or $0.52 per diluted share for the same period in the prior year.

"We were pleased with the company's ability to remain profitable during fiscal year 2009, despite the challenging global economic conditions," stated Andy Hidalgo, CEO of WPCS. "We remain committed to controlling the company's cost structure and maintaining a strong working capital position while investing in our growth initiatives. The company continues to maintain a healthy balance sheet with $21.0 million in working capital, $5.6 million in credit line borrowing and $6.4 million in cash. In addition, the credit line borrowing to working capital ratio remains strong at 27%. For the year ended April 30, 2009, revenue segmentation was approximately 32% wireless communication, 15% specialty construction and 53% electrical power. The consolidated gross margin for the year was 27%. As of April 30, 2009, WPCS had approximately $38 million of backlog and a $169 million bid list. We continue to focus on targeting markets such as public services, healthcare, energy and international. These markets are displaying resiliency against an adverse economic climate. The management team remains optimistic in achieving our financial objectives for the current fiscal year."

WPCS is reiterating guidance for its fiscal year 2010 ending April 30, 2010, of approximately $112 million in revenue and net income within a range of $2.2 million to $2.4 million. The fully diluted earnings per share is estimated to be within a range of $0.31 to $0.34 for the year. As a reminder, there will be an investor conference call at 5:00 pm ET today. To participate on the conference call, please dial 888-299-4099 for calls within the U.S. and 302-709-8337 for calls from international locations. Upon reaching the operator, verbally transmit the participant code VH85435. Andy Hidalgo, CEO of WPCS, will be discussing the company's financial results, market conditions and strategic development. When the overview concludes, your questions can be asked by pressing *1 and your questions can be removed from the queue by pressing the number sign. Replays of the conference call will be available for a period of five days by dialing 402-220-2946 and using 85435 # as the pass code.

About WPCS International Incorporated:

WPCS is a design-build engineering company that focuses on the implementation requirements of communications infrastructure. The company provides its engineering capabilities including wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide. For more information, please visit http://www.wpcs.com/ .

Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward looking statements.

Contact: WPCS International Incorporated 610-903-0400 x101 ir@wpcs.com WPCS INTERNATIONAL INCORPORATED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME Three Months Ended Year Ended April 30, April 30, 2009 2008 2009 2008 ---- ---- ---- ---- REVENUE $24,742,726 $26,707,999 $107,101,360 $101,431,128 ----------- ----------- ------------ ------------ COSTS AND EXPENSES: Cost of revenue 18,358,718 19,239,593 78,334,115 73,084,310 Selling, general and administrative expenses 5,265,210 5,150,992 23,052,464 19,302,773 Depreciation and amortization 623,944 782,399 2,578,824 2,398,603 ------- ------- --------- --------- Total costs and expenses 24,247,872 25,172,984 103,965,403 94,785,686 ---------- ---------- ----------- ---------- OPERATING INCOME 494,854 1,535,015 3,135,957 6,645,442 OTHER EXPENSE (INCOME): Interest expense 87,258 145,497 421,022 522,984 Interest income (2,792) (74,865) (53,947) (511,122) Minority interest (26,809) (58,996) 108,228 (22,115) ------- ------- ------- ------- INCOME BEFORE INCOME TAX PROVISION 437,197 1,523,379 2,660,654 6,655,695 Income tax provision 143,787 602,463 989,027 2,577,348 ------- ------- ------- --------- NET INCOME $293,410 $920,916 $1,671,627 $4,078,347 ======== ======== ========== ========== Basic net income per common share $0.04 $0.13 $0.23 $0.58 ===== ===== ===== ===== Diluted net income per common share $0.04 $0.13 $0.23 $0.52 ===== ===== ===== ===== Basic weighted average number of common shares outstanding 6,942,266 7,218,643 7,131,967 7,090,789 ========= ========= ========= ========= Diluted weighted average number of common shares outstanding 6,942,266 7,264,688 7,154,285 7,848,341 ========= ========= ========= ========= WPCS INTERNATIONAL INCORPORATED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS April 30, April 30, ASSETS 2009 2008 ---------- ---------- CURRENT ASSETS: Cash and cash equivalents $6,396,810 $7,449,530 Accounts receivable, net of allowance of $155,458 and $98,786 at April 30, 2009 and April 30, 2008, respectively 25,662,784 29,092,488 Costs and estimated earnings in excess of billings on uncompleted contracts 5,229,043 3,887,152 Inventory 2,481,383 2,791,782 Prepaid expenses and other current assets 1,674,952 1,002,993 Prepaid income taxes 295,683 122,342 Deferred tax assets 70,413 35,939 ---------- ---------- Total current assets 41,811,068 44,382,226 PROPERTY AND EQUIPMENT, net 6,668,032 6,828,162 OTHER INTANGIBLE ASSETS, net 1,983,879 2,929,937 GOODWILL 32,549,186 28,987,501 OTHER ASSETS 132,948 820,315 ---------- ---------- Total assets $83,145,113 83,948,141 =========== ========== WPCS INTERNATIONAL INCORPORATED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (continued) LIABILITIES AND SHAREHOLDERS' EQUITY April 30, April 30, 2009 2008 --------- --------- CURRENT LIABILITIES: Current portion of loans payable $89,210 $1,272,112 Borrowings under line of credit 5,626,056 750,000 Current portion of capital lease obligations 96,001 91,491 Accounts payable and accrued expenses 8,997,296 9,305,791 Billings in excess of costs and estimated earnings on uncompleted contracts 2,511,220 3,602,422 Deferred revenue 507,650 602,560 Due to shareholders 2,951,008 2,300,083 --------- --------- Total current liabilities 20,778,441 17,924,459 Borrowings under line of credit - 4,376,056 Loans payable, net of current portion 71,634 156,978 Capital lease obligations, net of current portion 151,425 215,780 Deferred tax liabilities 1,467,971 1,173,786 --------- --------- Total liabilities 22,469,471 23,847,059 ---------- ---------- Minority interest in subsidiary 1,440,078 1,331,850 --------- --------- COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY: Preferred stock - $0.0001 par value, 5,000,000 shares authorized, none issued - - Common stock - $0.0001 par value, 25,000,000 shares authorized, 6,942,266 and 7,251,083 shares issued and outstanding at April 30, 2009 and April 30, 2008, respectively 694 725 Additional paid-in capital 50,175,479 50,775,938 Retained earnings 9,381,189 7,709,562 Accumulated other comprehensive (loss) income on foreign currency translation (321,798) 283,007 -------- ------- Total shareholders' equity 59,235,564 58,769,232 ---------- ---------- Total liabilities and shareholders' equity $83,145,113 $83,948,141 =========== ===========

WPCS International Incorporated

CONTACT: WPCS International Incorporated, +1-610-903-0400 x101,
ir@wpcs.com

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

LSI Reports Second Quarter 2009 Results

MILPITAS, Calif., July 29 /PRNewswire-FirstCall/ -- LSI Corporation today reported results for its second quarter ended July 5, 2009.

Second Quarter News Release Summary -- Second quarter 2009 revenues of $521 million -- Second quarter 2009 GAAP* net loss of ($0.09) per share -- Second quarter 2009 non-GAAP** net income of $0.01 per share -- Second quarter operating cash flows of $69 million Third Quarter 2009 Business Outlook -- Projected revenues of $520 million to $570 million -- GAAP* net loss in the range of ($0.12) to ($0.02) per share -- Non-GAAP** net income in the range of $0.00 to $0.06 per share * Generally Accepted Accounting Principles. ** Excludes goodwill and other intangible asset impairment charges, stock-based compensation, amortization of acquisition-related intangibles, restructuring of operations and other items, net, loss on write-down of debt/equity securities and gain on repurchase of convertible subordinated notes. It also excludes the income tax effect associated with the above mentioned items.

Second quarter 2009 revenues were $521 million, an 8% increase sequentially compared to $482 million reported in the first quarter of 2009. Second quarter 2009 revenues decreased 25% year-over-year compared to $692 million reported in the second quarter of 2008.

Second quarter 2009 GAAP* net loss was $61 million or 9 cents per share, compared to first quarter 2009 GAAP net loss of $104 million or 16 cents per share. Second quarter 2009 GAAP results compare to second quarter 2008 GAAP net loss of $14 million or 2 cents per share. Second quarter 2009 GAAP net loss included a net charge of $69 million from special items, consisting primarily of $43 million of amortization of acquisition-related items, $17 million of stock-based compensation expense, and $8.6 million in net restructuring and other items.

Second quarter 2009 non-GAAP** net income was $7 million or 1 cent per diluted share compared to first quarter 2009 non-GAAP net loss of $18 million or 3 cents per share. Second quarter non-GAAP net income compares to second quarter 2008 non-GAAP net income of $83 million or 13 cents per diluted share.

Cash and short-term investments totaled approximately $874 million at quarter end. LSI redeemed $243 million of convertible notes in the second quarter and increased net cash, or cash and short-term investments minus debt, by $44 million.

"Although the economic environment remains uncertain, our second quarter revenues came in significantly above the midpoint of our guidance range with growth in both our storage and networking businesses," said Abhi Talwalkar, LSI president and chief executive officer. "LSI is now beginning to realize tangible results from our work over the past several years to transform the company. Our core businesses are significantly stronger than before, and we are now well positioned to drive long-term growth."

Bryon Look, LSI CFO and chief administrative officer, said, "By maintaining tight controls on spending, our operating expenses decreased sequentially, delivering improvements in our operating results. We also continued to effectively manage our balance sheet, redeeming short-term convertible debt during the quarter while increasing our net cash position."

LSI Third Quarter 2009 Business Outlook GAAP* Special Items Non-GAAP** Revenue $520 million to $520 million to $570 million $570 million Gross Margin 34 - 39% $34 million to 43 - 45% $46 million Operating Expenses $232 million to $21 million to $211 million to $250 million $29 million $221 million Net Other Income 0 0 Tax Approximately Approximately $6 million $6 million Net (Loss)/Income Per Share ($0.12) to ($0.02) ($0.08) to ($0.12) $0.00 to $0.06 Diluted Share Count 650 million 655 million

Capital spending is projected to be around $15 million in the third quarter and approximately $45 million in total for 2009.

Depreciation and software amortization is projected to be around $23 million in the third quarter and approximately $90 million in total for 2009.

LSI Conference Call Information

LSI will hold a conference call today at 2 p.m. PDT to discuss second quarter financial results and the third quarter 2009 business outlook. Internet users can access the conference call at http://www.lsi.com/webcast. Subsequent to the conference call, a replay will be available at the same web address.

Forward-Looking Statements: This news release contains forward-looking statements that are based on the current opinions and estimates of management. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Factors that could cause LSI's actual results to differ materially from those set forth in the forward-looking statements include, but are not limited to: our reliance on major customers and suppliers; our ability to keep up with rapid technological change; our ability to compete successfully in competitive markets; the successful transition of the operations of Agere Systems to our enterprise resource planning system; fluctuations in the timing and volumes of customer demand; the unavailability of appropriate levels of manufacturing capacity; and general industry and market conditions. For additional information, see the documents filed by LSI with the Securities and Exchange Commission, and specifically the risk factors set forth in the company's most recent reports on Form 10-K and 10-Q. LSI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About LSI

LSI Corporation is a leading provider of innovative silicon, systems and software technologies that enable products which seamlessly bring people, information and digital content together. The company offers a broad portfolio of capabilities and services including custom and standard product ICs, adapters, systems and software that are trusted by the world's best known brands to power leading solutions in the Storage and Networking markets. More information is available at http://www.lsi.com/.

Editor's Notes: 1. All LSI news releases (financial, acquisitions, manufacturing, products, technology, etc.) are issued exclusively by PR Newswire and are immediately thereafter posted on the company's external website, http://www.lsi.com/. 2. LSI and the LSI & Design logo are trademarks or registered trademarks of LSI Corporation. 3. All other brand or product names may be trademarks or registered trademarks of their respective companies. LSI CORPORATION Condensed Consolidated Balance Sheets (In millions) (Unaudited) July 5, April 5, December 31, Assets 2009 2009 2008 ------ ---- ---- ---- Current assets: Cash and short-term investments $873.6 $1,073.8 $1,119.1 Accounts receivable, net 267.9 273.3 304.0 Inventories 158.7 201.2 220.5 Prepaid expenses and other current assets 140.5 136.7 155.9 ----- ----- ----- Total current assets 1,440.7 1,685.0 1,799.5 Property and equipment, net 217.5 226.6 236.0 Goodwill and identified intangible assets, net 988.5 1,022.9 1,065.6 Other assets 235.6 243.5 243.1 ----- ----- ----- Total assets $2,882.3 $3,178.0 $3,344.2 -------- -------- -------- Liabilities and Stockholders' Equity ------------------------------------ Current liabilities: Current portion of long-term debt $350.0 $244.6 $245.1 Other current liabilities 464.1 490.0 552.4 ----- ----- ----- Total current liabilities 814.1 734.6 797.5 Long-term debt, net of current portion - 350.0 350.0 Pension, tax and other liabilities 750.8 750.8 755.8 ----- ----- ----- Total liabilities 1,564.9 1,835.4 1,903.3 ------- ------- ------- Stockholders' equity: Common stock and additional paid-in capital 6,111.7 6,088.4 6,065.3 Accumulated deficit (4,525.8) (4,464.3) (4,360.8) Accumulated other comprehensive loss (268.5) (281.5) (263.6) ------ ------ ------ Total stockholders' equity 1,317.4 1,342.6 1,440.9 ------- ------- ------- Total liabilities and stockholders' equity $2,882.3 $3,178.0 $3,344.2 -------- -------- -------- LSI CORPORATION Consolidated Statements of Operations (GAAP) (In thousands, except per share amounts) (Unaudited) Three Months Ended Six Months Ended ------------------ ---------------- July 5, April 5, June 29, July 5, June 29, 2009 2009 2008 2009 2008 ---- ---- ---- ---- ---- Revenues $520,665 $482,279 $692,063 $1,002,944 $1,352,810 Cost of revenues 301,333 276,584 360,492 577,917 717,370 Purchase accounting effect on inventory 2,550 - - 2,550 - Amortization of acquisition related intangibles 33,867 33,610 44,103 67,477 86,358 Stock-based compensation expense 2,022 2,013 2,572 4,035 4,633 ----- ----- ----- ----- ----- Total cost of revenues 339,772 312,207 407,167 651,979 808,361 ------- ------- ------- ------- ------- Gross profit 180,893 170,072 284,896 350,965 544,449 ------- ------- ------- ------- ------- Research and development 141,724 147,422 162,546 289,146 324,440 Stock-based compensation expense 7,195 7,862 7,569 15,057 15,392 ----- ----- ----- ------ ------ Total research and development 148,919 155,284 170,115 304,203 339,832 ------- ------- ------- ------- ------- Selling, general and administrative 64,819 66,519 80,473 131,338 158,181 Amortization of acquisition related intangibles 9,123 9,123 14,491 18,246 27,925 Stock-based compensation expense 7,785 8,115 9,506 15,900 17,417 ----- ----- ----- ------ ------ Total selling, general and admini- strative 81,727 83,757 104,470 165,484 203,523 ------ ------ ------- ------- ------- Restructuring of operations and other items, net 6,010 25,205 20,719 31,215 25,283 ----- ------ ------ ------ ------ Loss from operations (55,763) (94,174) (10,408) (149,937) (24,189) Interest expense (6,864) (7,236) (8,959) (14,100) (17,937) Interest income and other, net 6,344 5,863 8,220 12,207 22,851 ----- ----- ----- ------ ------ Loss before income taxes (56,283) (95,547) (11,147) (151,830) (19,275) Provision for income taxes 5,200 8,000 2,500 13,200 8,000 ----- ----- ----- ------ ----- Net loss $(61,483) $(103,547) $(13,647) $(165,030) $(27,275) -------- --------- -------- --------- -------- Net loss per share: Basic $(0.09) $(0.16) $(0.02) $(0.25) $(0.04) ------ ------ ------ ------ ------ Diluted $(0.09) $(0.16) $(0.02) $(0.25) $(0.04) ------ ------ ------ ------ ------ Shares used in computing per share amounts: Basic 650,300 648,459 639,872 649,360 650,867 ------- ------- ------- ------- ------- Diluted 650,300 648,459 639,872 649,360 650,867 ------- ------- ------- ------- ------- A reconciliation of net loss on the GAAP basis to non-GAAP net income or loss is included below. Reconciliation Three Months Ended Six Months Ended of GAAP net loss ------------------ ---------------- to non-GAAP net July 5, April 5, June 29, July 5, June 29, income/(loss): 2009 2009 2008 2009 2008 ----------------- ---- ---- ---- ---- ---- GAAP net loss $(61,483) $(103,547) $(13,647) $(165,030) $(27,275) -------- --------- -------- --------- -------- Special items: a) Stock-based compensation expense - cost of revenues 2,022 2,013 2,572 4,035 4,633 b) Stock-based compensation expense - R&D 7,195 7,862 7,569 15,057 15,392 c) Stock-based compensation expense - SG&A 7,785 8,115 9,506 15,900 17,417 d) Amortization of acquisition related intangibles - cost of revenues 33,867 33,610 44,103 67,477 86,358 e) Amortization of acquisition related intangibles - SG&A 9,123 9,123 14,491 18,246 27,925 f) Purchase accounting effect on inventory 2,550 - - 2,550 - g) Restructuring of operations and other items, net 6,010 25,205 20,719 31,215 25,283 h) Write-down of debt and equity securities - - 2,827 - 2,827 i) Income tax effect of above items - - (4,751) - (4,845) --- --- ------ --- ------ Total special items 68,552 85,928 97,036 154,480 174,990 ------ ------ ------ ------- ------- Non-GAAP net income/(loss) $7,069 $(17,619) $83,389 $(10,550) $147,715 ------ -------- ------- -------- -------- Non-GAAP net income/ (loss) per share: Basic $0.01 $(0.03) $0.13 $(0.02) $0.23 ----- ------ ----- ------ ----- Diluted $0.01 $(0.03) $0.13 $(0.02) $0.23 ----- ------ ----- ------ ----- Shares used in computing non- GAAP per share amounts: Basic 650,300 648,459 639,872 649,360 650,867 ------- ------- ------- ------- ------- Diluted 652,389 648,459 643,106 649,360 652,293 ------- ------- ------- ------- ------- Reconciliation of GAAP to non-GAAP shares used in Three Months Ended Six Months Ended the calculation ------------------ ---------------- of diluted per July 5, April 5, June 29, July 5, June 29, share amounts: 2009 2009 2008 2009 2008 -------------- ---- ---- ---- ---- ---- Diluted shares used in per-share computation - GAAP 650,300 648,459 639,872 649,360 650,867 Dilutive stock awards 2,089 - 3,234 - 1,426 ------- ------- ------- ------- ------- Diluted shares used in per-share computation - non- GAAP 652,389 648,459 643,106 649,360 652,293 ------- ------- ------- ------- ------- LSI CORPORATION Consolidated Statement of Cash Flows (In thousands) (Unaudited) Three Months Ended Six Months Ended ------------------ ---------------- July 5, April 5, June 29, July 5, June 29, 2009 2009 2008 2009 2008 ---- ---- ---- ---- ---- Operating activities: Net loss $(61,483) $(103,547) $(13,647) $(165,030) $(27,275) Adjustments: Depreciation and amortization * 66,239 65,079 79,290 131,318 157,618 Stock-based compensation expense 17,002 17,990 19,647 34,992 37,442 Non-cash restructuring of operations and other items (8) (1) 46 (9) (3,245) Gain on redemption of convertible subordinated notes (149) - - (149) - Write-down of debt and equity securities - - 2,827 - 2,827 Loss/(gain) on sale of property and equipment 17 100 (11) 117 (23) Non-cash foreign exchange loss/ (gain) 4,268 (12,384) (7,869) (8,116) 5,049 Changes in deferred tax assets and liabilities (84) 73 2,014 (11) 4,129 Changes in assets and liabilities: Accounts receivable, net 5,364 30,690 (27,253) 36,054 47,019 Inventories 54,242 19,340 17,620 73,582 (99) Prepaid expenses and other assets 11,015 32,443 (5,275) 43,458 (9,592) Accounts payable 10,147 (63,535) (11,376) (53,388) (50,808) Accrued and other liabilities (37,658) 3,905 (28,762) (33,753) (39,590) ------- ----- ------- ------- ------- Net cash provided by/(used in) operating activities 68,912 (9,847) 27,251 59,065 123,452 ------ ------ ------ ------ ------- Investing activities: Purchases of debt securities available-for- sale - (10) (62,481) (10) (106,632) Proceeds from maturities and sales of debt securities available-for- sale 28,063 35,882 42,299 63,945 93,203 Purchases of equity securities - (5,000) - (5,000) (3,500) Purchases of property, equipment and software (23,138) (25,463) (32,625) (48,601) (67,855) Proceeds from sale of property and equipment 105 7 4,917 112 11,250 Acquisition of companies, net of cash acquired (20,840) - (95,137) (20,840) (95,137) Decrease/ (increase) in non-current assets and deposits 13,501 - (13,300) 13,501 (13,300) Proceeds received from the resolution of a pre-acquisition income tax contingency - - - - 4,821 --- --- --- --- ----- Net cash (used in)/ provided by investing activities (2,309) 5,416 (156,327) 3,107 (177,150) ------ ----- -------- ----- -------- Financing activities: Redemption of convertible subordinated notes (244,047) - - (244,047) - Issuance of common stock 6,672 1 29,203 6,673 29,549 Purchase of common stock under repurchase programs - - - - (229,231) --- --- --- --- -------- Net cash (used in)/ provided by financing activities (237,375) 1 29,203 (237,374) (199,682) -------- --- ------ -------- -------- Effect of exchange rate changes on cash and cash equivalents 3,221 (2,366) (944) 855 872 ----- ------ ---- --- --- Decrease in cash and cash equivalents (167,551) (6,796) (100,817) (174,347) (252,508) Cash and cash equivalents at beginning of period 822,505 829,301 869,878 829,301 1,021,569 ------- ------- ------- ------- --------- Cash and cash equivalents at end of period $654,954 $822,505 $769,061 $654,954 $769,061 ======== ======== ======== ======== ======== * Depreciation of fixed assets and amortization of intangible assets, software, capitalized intellectual property, premiums on short-term investments, debt issuance costs, and accrued debt premium. LSI CORPORATION Selected Financial Information (GAAP) (In millions) (Unaudited) Three Months Ended ------------------ July 5, April 5, June 29, 2009 2009 2008 ---- ---- ---- Semiconductor revenues $343.8 $325.0 $462.0 Storage Systems revenues $176.9 $157.3 $230.1 Total revenues $520.7 $482.3 $692.1 Percentage change in revenues- qtr./qtr. ( a ) 8.0% -20.9% 4.7% Percentage change in revenues- yr./yr. ( b ) -24.8% -27.0% 3.3% Days sales outstanding 46 51 47 Days of inventory 42 58 53 Current ratio 1.8 2.3 2.8 Quick ratio 1.4 1.8 2.2 Gross margin as a percentage of revenues 34.7% 35.3% 41.2% R&D as a percentage of revenues 28.6% 32.2% 24.6% SG&A as a percentage of revenues 15.7% 17.4% 15.1% Employees ( c ) 5,357 5,310 5,378 Revenues per employee (in thousands) ( d ) $388.8 $363.3 $514.7 Selected Cash Flow Information: ------------------------------- Purchases of property and equipment ( e ) $7.7 $10.2 $14.3 Depreciation and amortization ( f ) $23.2 $22.5 $20.6 ( a ) Represents a sequential quarterly change in revenues. ( b ) Represents a change in revenues in the quarter presented as compared to the same quarter of the previous year. ( c ) Actual number of employees at the end of each period presented. ( d ) Revenues per employee is calculated by annualizing revenues for each quarter presented and dividing it by the number of employees. ( e ) Excludes purchases of software. ( f ) Represents depreciation of fixed assets and amortization of software.

LSI Corporation

CONTACT: Investor Relations, Sujal Shah, +1-610-712-5471,
sujal.shah@lsi.com, or Media Relations, Mitch Seigle, +1-408-954-3225,
mitch.seigle@lsi.com, both of LSI Corporation

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

Varian Medical Systems Reports Results for Third Quarter of Fiscal Year 2009

PALO ALTO, Calif., July 29 /PRNewswire-FirstCall/ -- Varian Medical Systems today reported net earnings of $0.68 per diluted share in the third quarter of fiscal year 2009 versus net earnings from continuing operations of $0.61 per diluted share in the year-ago quarter. Third quarter revenues were $510 million, about even with revenues from continuing operations in the year-ago quarter. Compared to continuing operations in the year-ago quarter, net orders declined by 4 percent to $550 million and the quarter-ending backlog rose 11 percent to $1.9 billion.

"Product mix, successful cost control measures, and some discrete tax benefits contributed to higher gross and operating margins and solid earnings growth in the period," said Tim Guertin, president and CEO of Varian Medical Systems. "However, the affects of economic recession, particularly in the U.S., hindered growth in revenues and net orders in all our businesses."

The company achieved very strong cash flow from operations in the quarter and ended the period with $472 million in cash and cash equivalents and $32 million of debt. Days sales outstanding was 83 for the quarter, up five days versus the year-ago period and an improvement of four days from the second quarter of this fiscal year. The company did not repurchase shares of its stock during the period.

Oncology Systems

Oncology Systems' revenues for the quarter totaled $428 million, up 5 percent from the third quarter of last fiscal year. This business recorded third-quarter net orders of $459 million, about even with the same period last year. Compared to the same period last fiscal year, net orders were down 9 percent in North America and up 8 percent in international markets.

"Oncology Systems' net orders were up in both Asia and Europe, but down in North America," Guertin said. "In the U.S., we experienced the combined effect of a recession and added uncertainty created by the prospects of healthcare reform and uncertainty about reimbursement rates. A mix shift toward software products, including our RapidArc tool, together with cost controls contributed to a three-point improvement in Oncology Systems' gross margins."

X-Ray Products

Revenues for the X-Ray Products business, including tubes and digital flat-panel detectors for filmless X-ray imaging, were $67 million for the third quarter, down 13 percent from the year-ago quarter. Net orders for this business were $82 million, down 3 percent from the year-ago quarter.

"X-ray Product revenues were hurt more than expected in the third quarter by steep inventory adjustments among several imaging equipment manufacturers who cut back on orders during the second quarter of this year in response to the recession and market uncertainties in the U.S.," said Guertin. "However net orders were down only modestly in the third quarter thanks to strengthening business in the latter half of the period."

Other Businesses

The company's Security and Inspection Products (SIP) business, proton therapy business, and Ginzton Technology Center reported combined fiscal 2009 third quarter revenues of $14 million, down 36 percent from the year-ago quarter. Net orders for the quarter were $8 million, down 69 percent versus the year-ago quarter due exclusively to the SIP business.

"Government delays in deployment of port and border security systems contributed to the sharp declines in net order and revenues, especially compared to a strong year-ago quarter," Guertin said.

Outlook

"For fiscal year 2009, we expect that net earnings per diluted share from continuing operations could grow to between $2.60 and $2.65 and that revenue from continuing operations could grow by about 4 to 5 percent," Guertin said.

Investor Conference Call

Varian Medical Systems is scheduled to conduct its third quarter fiscal year 2009 conference call at 2 p.m. PT today. To hear a live webcast or replay of the call, visit the investor relations page on the company's web site at http://www.varian.com/ where it will be archived for a year. To access the call via telephone, dial 1-800-260-8140 from inside the U.S. or 1-617-614-3672 from outside the U.S. and enter confirmation code 31906727. The replay can be accessed by dialing 1-888-286-8010 from inside the U.S or 1-617-801-6888 from outside the U.S. and entering confirmation code 35168740. The telephone replay will be available through 5 p.m. PT, Friday, July 31, 2009.

Varian Medical Systems, Inc., of Palo Alto, California, is the world's leading manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The company supplies informatics software for managing comprehensive cancer clinics, radiotherapy centers and medical oncology practices. Varian is a premier supplier of tubes and digital detectors for X-ray imaging in medical, scientific, and industrial applications and also supplies X-ray imaging products for cargo screening and industrial inspection. Varian Medical Systems employs approximately 5,100 people who are located at manufacturing sites in North America, Europe, and China and approximately 79 sales and support offices around the world. For more information, visit http://www.varian.com/.

Forward-Looking Statements

Except for historical information, this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning industry outlook, including growth drivers; the company's future orders, revenues, backlog, or earnings growth; future financial results; market acceptance of or transition to new products or technology such as RapidArc therapy, image-guided radiation therapy (IGRT), stereotactic radiosurgery, filmless X-rays, proton therapy, and security and inspection, and any statements using the terms "expect," "could," or similar statements are forward-looking statements that involve risks and uncertainties that could cause the company's actual results to differ materially from those anticipated. Such risks and uncertainties include the effect of economic conditions, including the current global recession, the impact of health care reforms, and/or third-party reimbursement levels and credit availability for capital expenditures for cancer care; currency exchange rates and tax rates; demand for the company's products; the company's ability to develop and commercialize new products; the company's reliance on sole or limited-source suppliers; the impact of reduced or limited demand by sole purchasers of certain X-ray tubes; the company's ability to maintain or increase operating margins; the impact of competitive products and pricing; the company's ability to meet Food and Drug Administration and other regulatory requirements for product clearances or to comply with Food and Drug Administration and other regulatory regulations or procedures; the ability to make strategic acquisitions and to successfully integrate the acquired operations into the company's business; the company's ability to protect the company's intellectual property; the potential loss of key distributors or key personnel; and the other risks listed from time to time in the company's filings with the Securities and Exchange Commission, which by this reference are incorporated herein. The company assumes no obligation to update or revise the forward-looking statements in this release because of new information, future events, or otherwise.

FOR INFORMATION CONTACT: Elisha Finney (650) 424-6803 elisha.finney@varian.com Spencer Sias (650) 424-5782 spencer.sias@varian.com A summary of earnings and other financial information follows. Varian Medical Systems, Inc. and Subsidiaries Condensed Consolidated Statements of Earnings (Unaudited) (Dollars and shares in millions, except per share Q3 QTR Q3 QTR Q3 YTD Q3 YTD amounts) 2009 2008 2009 2008 --------------------------- ---- ---- ---- ---- Net orders $549.8 572.4 1,625.3 1,576.8 Oncology Systems 459.3 461.4 1,321.1 1,260.2 X-Ray Products 82.2 84.5 242.1 242.6 Other 8.3 26.5 62.1 74.0 Order backlog $1,941.0 1,755.2 1,941.0 1,755.2 Revenues $509.8 507.4 1,572.1 1,477.0 Oncology Systems 428.2 407.7 1,271.0 1,189.2 X-Ray Products 67.2 77.2 239.1 222.1 Other 14.4 22.5 62.0 65.7 Cost of revenues $293.6 295.1 896.5 862.0 Gross margin 216.2 212.3 675.6 615.0 As a percent of revenues 42.4% 41.8% 43.0% 41.6% Operating expenses Research and development 35.3 35.7 109.3 96.5 Selling, general and administrative 78.4 84.5 242.8 234.7 Operating earnings 102.5 92.1 323.5 283.8 As a percent of revenues 20.1% 18.2% 20.6% 19.2% Interest income/(expense), net (0.3) 1.3 0.7 4.4 Earnings from continuing operations before taxes 102.2 93.4 324.2 288.2 Taxes on earnings 16.8 16.3 89.9 80.0 Earnings from continuing operations 85.4 77.1 234.3 208.2 As a percent of revenues 16.7% 15.2% 14.9% 14.1% Loss from discontinued operations - net of taxes(1) - (2.9) (12.3) (7.2) Net earnings $85.4 74.2 222.0 201.0 ------------ ----- ---- ----- ----- Net earnings (loss) per share - basic: Continuing operations $0.69 0.62 1.89 1.67 Discontinued operations(1) - (0.02) (0.10) (0.06) --- ------ ----- ----- Net earnings per share $0.69 0.60 1.79 1.61 Net earnings (loss) per share - diluted: Continuing operations $0.68 0.61 1.88 1.63 Discontinued operations(1) - (0.03) (0.10) (0.05) --- ------ ----- ----- Net earnings per share $0.68 0.58 1.78 1.58 Shares used in the calculation of net earnings per share: Average shares outstanding - basic 124.2 124.6 124.0 124.9 Average shares outstanding - diluted 125.0 127.1 124.9 127.6 (1) The operating results of ACCEL research instruments are classified as discontinued operations for all periods presented. Varian Medical Systems, Inc. and Subsidiaries Condensed Consolidated Balance Sheets July 3, September 26, 2009 2008(2) (In thousands) (Unaudited) ------------- ----------- ------------- Assets Current assets Cash and cash equivalents $471,721 $397,306 Restricted cash 2,629 - Accounts receivable, net 469,523 486,310 Inventories 358,151 282,980 Deferred tax assets and other 191,485 209,006 Current assets of discontinued operations(1) - 18,799 --- ------ Total current assets 1,493,509 1,394,401 --------- --------- Property, plant and equipment 520,064 452,576 Accumulated depreciation and amortization (259,767) (234,393) -------- -------- Property, plant and equipment, net 260,297 218,183 ------- ------- Goodwill 207,687 209,146 Other assets 166,077 150,694 Long term assets of discontinued operations(1) - 3,088 --- ----- Total assets $2,127,570 $1,975,512 ========== ========== Liabilities and Stockholders' Equity Current liabilities Accounts payable $88,259 $105,281 Accrued expenses 239,775 252,915 Deferred revenues 124,219 141,368 Advance payments from customers 249,450 201,783 Product warranty 46,779 51,141 Current maturities of long-term debt 9,001 7,987 Current liabilities of discontinued operations(1) - 21,202 --- ------ Total current liabilities 757,483 781,677 Other long-term liabilities 117,561 134,251 Long-term debt 23,459 32,399 ------ ------ Total liabilities 898,503 948,327 ------- ------- Stockholders' Equity Common stock 125,530 125,590 Capital in excess of par value 501,588 468,384 Retained earnings and accumulated other comprehensive loss 601,949 433,211 ------- ------- Total stockholders' equity 1,229,067 1,027,185 --------- --------- Total liabilities and stockholders' equity $2,127,570 $1,975,512 ========== ========== (1) The assets and liabilities of ACCEL research instruments are classified as discontinued operations. (2) The condensed consolidated balance sheet as of September 26, 2008 was derived from audited financial statements as of that date

Varian Medical Systems, Inc.

CONTACT: Elisha Finney, +1-650-424-6803, elisha.finney@varian.com, or
Spencer Sias, +1-650-424-5782, spencer.sias@varian.com, both of Varian Medical
Systems, Inc.

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

Plexus Reports Fiscal Third Quarter Revenue of $379 MillionInitiates Q4 Revenue Guidance of $380 - $405 Million

NEENAH, Wis., July 29 /PRNewswire-FirstCall/ -- Plexus Corp. today announced:

Q3 Fiscal 2009 Results (quarter ended July 4, 2009): -- Revenue: $379 million, relative to guidance of $355 to $385 million. -- Diluted EPS: $0.23, including $0.04 per share of stock-based compensation expense, relative to guidance of $0.18 to $0.25. Q4 Fiscal 2009 Guidance: -- Revenue: $380 to $405 million. -- Diluted EPS: $0.27 to $0.32, excluding any restructuring charges and including approximately $0.04 per share of stock-based compensation expense.

Dean Foate, President and CEO, commented, "Fiscal third quarter revenues unfolded generally in line with our expectations. Overall revenues declined 3% sequentially from the fiscal second quarter with sequential declines in all sectors except our Wireline/Networking sector where we benefited from improved end-market demand. While our fiscal third quarter was challenging, we experienced a relatively low level of customer demand volatility, perhaps an indication that end-markets are stabilizing. During Q3 we won 15 new manufacturing programs that we currently anticipate will generate approximately $188 million in annualized revenue when fully ramped into production over the coming quarters, subject to risks around the timing and ultimate realization of the forecasted revenues. We continue to believe we are gaining market share."

Mr. Foate continued, "We currently anticipate modest revenue growth in our fiscal fourth quarter of 2009 as we benefit from the continuing strong pace of new business wins. We are establishing fiscal fourth quarter revenue guidance of $380 to $405 million with diluted EPS of $0.27 to $0.32, excluding any restructuring charges and including approximately $0.04 per share of stock-based compensation expense. Looking further ahead to our fiscal first quarter of 2010, while we currently have visibility to modest sequential top line growth, we would caution that relative to fiscal fourth quarter 2009 results, first half fiscal 2010 operating margins will be pressured by mix shift, compensation-related cost increases and capacity investments that are necessary to support new program ramps that we anticipate will drive growth in the second half of the fiscal year."

Ginger Jones, Vice President and CFO, commented, "Our diluted EPS was largely in line with our expectations for the quarter. The only significant difference from our expectations was a $0.01 reduction to EPS as a consequence of an increase to our full-year tax rate, which is now estimated to be 8% for the full year versus the 7% tax rate anticipated when we established our guidance for the fiscal third quarter. The one percentage point increase in the tax rate is due to improvement in forecasted earnings in higher-tax jurisdictions in the fourth quarter of fiscal 2009."

Ms. Jones concluded, "The cost-cutting measures that we initiated during the fiscal second quarter delivered the savings we anticipated for the third quarter. Also as expected, we did not have any restructuring charges during the fiscal third quarter. We continue to closely monitor our revenue projections, production capacity and cost structure and have identified other cost-cutting measures that could be implemented quickly if warranted. We believe we have struck the proper balance of cost management and modest investments to support our many new program wins as well as our long-term growth strategy."

Plexus provides non-GAAP supplemental information. Non-GAAP income statements exclude transactions such as restructuring costs, goodwill impairment and discrete tax adjustments, that are not expected to have an effect on future operations. Non-GAAP financial data is provided to facilitate meaningful period-to-period comparisons of underlying operational performance by eliminating infrequent or unusual charges. Similar non-GAAP financial measures, including return on invested capital ("ROIC"), are used for internal management assessments because such measures provide additional insight into ongoing financial performance. In particular, we provide ROIC because we believe it offers insight into the metrics that are driving management decisions as well as management's performance under the tests which it sets for itself. Please refer to the attached reconciliations of non-GAAP supplemental data.

MARKET SECTOR BREAKOUT

Plexus reports revenue based on the market sector breakout set forth in the table below, which reflects the Company's sales and marketing focus.

Market Sector Q3 - F09 Q2 - F09 ------------- -------- -------- Wireline/Networking $184 M 48% $176 M 45% -------------------------- ------ -- ------ -- Wireless Infrastructure $33 M 9% $35 M 9% ----------------------- ----- - ----- - Medical $80 M 21% $93 M 24% ------- ----- -- ----- -- Industrial/Commercial $46 M 12% $48 M 12% -------------------------- ----- -- ----- -- Defense/Security/Aerospace $36 M 10% $37 M 10% -------------------------- ----- -- ----- -- Total Revenue $379 M $389 M ------------- ------ ------ FISCAL Q3 SUPPLEMENTAL INFORMATION -- ROIC for the third fiscal quarter was 12.4%. The Company defines ROIC as tax-effected annualized operating income divided by average invested capital over a rolling four-quarter period. Invested capital is defined as equity plus debt, less cash and cash equivalents and short-term investments. In periods where restructuring or non-cash goodwill impairment charges were incurred, such as the fiscal first and second quarters of 2009, we compute adjusted ROIC excluding these costs to better compare ongoing operations. -- Cash flow provided by operations was approximately $26.7 million for the quarter. Capital expenditures for the quarter were $11.9 million. Free cash flow was approximately $14.8 million for the quarter. The Company defines free cash flow as cash flow provided by (or used in) operations less capital expenditures. -- Top 10 customers comprised 57% of revenue during the quarter, down 1 percentage point from the previous quarter. -- Juniper Networks, Inc., with 23% of revenue, was the only customer representing 10% or more of revenue for the quarter. -- Cash Conversion Cycle: Cash Conversion Cycle Q3 - F09 Q2 - F09 --------------------- -------- -------- Days in Accounts 49 Days 47 Days Receivable ---------------- ------- ------- Days in Inventory 83 Days 87 Days ----------------- ------- ------- Days in Accounts Payable (55) Days (56) Days ------------------------ --------- --------- Annualized Cash Cycle 77 Days 78 Days --------------------- ------- ------- Conference Call/Webcast and Replay Information: What: Plexus Corp.'s Fiscal Q3 Earnings Conference Call When: Thursday, July 30th at 8:30 a.m. Eastern Time Where: 888-693-3477 or 973-582-2710 with conference ID: 17437922 http://www.videonewswire.com/PLXS/073009 (requires Windows Media Player) Replay: The call will be archived until August 6, 2009 at midnight Eastern Time http://www.videonewswire.com/PLXS/073009 or via telephone replay at 800-642-1687 or 706-645-9291 PIN: 17437922 About Plexus Corp. - The Product Realization Company

Plexus (http://www.plexus.com/) is an award-winning participant in the Electronic Manufacturing Services (EMS) industry, providing product design, supply chain and materials management, manufacturing, test, fulfillment and aftermarket solutions to branded product companies in the Wireline/Networking, Wireless Infrastructure, Medical, Industrial/Commercial and Defense/Security/Aerospace market sectors.

The Company's unique Focused Factory manufacturing model and global supply chain solutions are strategically enhanced by value-added product design and engineering services. Plexus specializes in mid- to low-volume, higher-mix customer programs that require flexibility, scalability, technology and quality.

Plexus provides award-winning customer service to more than 100 branded product companies in North America, Europe and Asia Pacific.

Safe Harbor and Fair Disclosure Statement

The statements contained in this release which are guidance or which are not historical facts (such as statements in the future tense and statements including "believe," "expect," "intend," "plan," "anticipate," "goal," "target" and similar terms and concepts), including all discussions of periods which are not yet completed, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include, but are not limited to: the economic performance of the electronics, technology and defense industries; the risk of customer delays, changes or cancellations in both ongoing and new programs; the poor visibility of future orders, particularly in view of current economic conditions; the effects of the volume of revenue from certain sectors or programs on our margins in particular periods; our ability to secure new customers and maintain our current customer base and deliver product on a timely basis; the risks relative to new customers, including a recently announced customer in the Industrial/Commercial sector, which risks include customer delays, start-up costs, our potential inability to execute and lack of a track record of order volume and timing; the risks of concentration of work for certain customers; the risk that new program wins and/or customer demand may not result in the expected revenue or profitability; the fact that customer orders may not lead to long-term relationships; the weakness of the global economy and the continuing instability of the global financial markets and banking system, including the potential inability on our part or that of our customers or suppliers to access cash investments and credit facilities; material cost fluctuations and the adequate availability of components and related parts for production; the effect of changes in average selling prices; the effect of start-up costs of new programs and facilities, including our recent and planned expansions, such as our new facilities in Hangzhou, China and Oradea, Romania; the adequacy of restructuring and similar charges as compared to actual expenses; the degree of success and the costs of efforts to improve the financial performance of our Mexican operations; possible unexpected costs and operating disruption in transitioning programs; the potential effect of world events (such as drug-cartel related violence in Mexico, changes in oil prices, terrorism and war in the Middle East); the impact of increased competition; and other risks detailed in the Company's Securities and Exchange Commission filings (particularly in Part II, Item 1A of our quarterly report on Form 10-Q for the quarter ended April 4, 2009).

(financial tables follow) PLEXUS CORP. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) Three Months Ended Nine Months Ended ------------------- ------------------- July 4, June 28, July 4, June 28, 2009 2008 2009 2008 -------- -------- ---------- --------- Net sales $378,643 $456,352 $1,223,647 $1,365,651 Cost of sales 344,038 407,520 1,106,694 1,209,714 ------- ------- --------- --------- Gross profit 34,605 48,832 116,953 155,937 Operating expenses: Selling and administrative expenses 22,491 26,350 70,104 73,965 Goodwill impairment costs - - 5,748 - Restructuring costs - - 2,823 - --- --- ----- --- 22,491 26,350 78,675 73,965 ------ ------ ------ ------ Operating income 12,114 22,482 38,278 81,972 Other income (expense): Interest expense (2,680) (2,262) (8,343) (3,720) Interest income 448 1,827 1,851 6,365 Miscellaneous income (expense) 370 (258) 712 (1,086) --- ----- --- ------- Income before income taxes 10,252 21,789 32,498 83,531 Income tax expense 1,042 4,357 1,222 16,706 ----- ----- ----- ------ Net income $9,210 $17,432 $31,276 $66,825 ====== ======= ======= ======= Earnings per share: Basic $0.23 $0.42 $0.79 $1.50 ===== ===== ===== ===== Diluted $0.23 $0.41 $0.79 $1.48 ===== ===== ===== ===== Weighted average shares outstanding: Basic 39,445 41,962 39,382 44,674 ====== ====== ====== ====== Diluted 39,712 42,481 39,550 45,191 ====== ====== ====== ====== PLEXUS CORP. NON-GAAP SUPPLEMENTAL INFORMATION (in thousands, except per share data) (unaudited) Three Months Ended Nine Months Ended ------------------ ----------------- July 4, June 28, July 4, June 28, 2009 2008 2009 2008 ---- ---- ---- ---- Net income - GAAP $9,210 $17,432 $31,276 $66,825 Add: Income tax expense 1,042 4,357 1,222 16,706 ----- ----- ----- ------ Income before income taxes - GAAP 10,252 21,789 32,498 83,531 Add: Goodwill impairment costs - - 5,748 - Restructuring costs* - - 2,823 - --- --- ----- --- Income before income taxes, excluding impairment and restructuring costs - Non-GAAP 10,252 21,789 41,069 83,531 Income tax expense - Non-GAAP** 1,042 4,357 3,602 16,706 ----- ----- ----- ------ Net income - Non-GAAP $9,210 $17,432 $37,467 $66,825 ====== ======= ======= ======= Earnings per share - Non-GAAP: Basic $0.23 $0.42 $0.95 $1.50 ===== ===== ===== ===== Diluted $0.23 $0.41 $0.95 $1.48 ===== ===== ===== ===== Weighted average shares outstanding: Basic 39,445 41,962 39,382 44,674 ====== ====== ====== ====== Diluted 39,712 42,481 39,550 45,191 ====== ====== ====== ====== * Summary of restructuring costs Severance costs $- $- $1,948 $- Other exit costs - - 875 - --- --- --- --- Total restructuring costs $- $- $2,823 $- == == ====== == ** Impact to provision related to finalization of audit and change in laws Impact to provision related to the finalization of federal and state income tax audits and changes in state income tax laws $- $- $1,377 $- == == ====== == PLEXUS CORP. NON-GAAP SUPPLEMENTAL INFORMATION (in thousands, except per share data) (unaudited) Operating Margin Calculation Three Months Nine Months Ended Operating Ended Operating July 4, 2009 Margin % July 4, 2009 Margin % ------------ -------- ------------ -------- Operating income $12,114 3.2% $38,278 3.1% Goodwill impairment - 5,748 Restructuring costs - 2,823 --- ----- Operating income excluding restructuring costs $12,114 3.2% $46,849 3.8% ======= ======= ROIC Calculation Nine Months Ended July 4, 2009 ------------ Operating income $38,278 Add: Unusual (restructuring and impairment) Charges 8,571 ----- Operating income (excluding unusual charges) 46,849 Annualized operating income 62,465 Tax rate (excluding unusual x 8% charges) ------------ Tax impact - 4,997 ----- Operating income (tax-effected) $57,468 ======= Average invested capital $462,037 ROIC 12.4% ===== Average Jul 4, Apr 4, Jan 3, Sept 27, Invested 2009 2009 2009 2008 Capital -------- --------- -------- -------- -------- Equity $508,268 $494,046 $485,716 $473,945 Plus: Debt - current 17,000 16,921 17,014 16,694 Debt - non- current 138,301 141,376 145,517 154,532 Less: Cash and cash equivalents (215,493) (201,330) (178,391) (165,970) --------- --------- --------- --------- $448,076 $451,013 $469,856 $479,201 $462,037 ======== ======== ======== ======== ======== PLEXUS CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) (unaudited) July 4, September 27, 2009 2008 ---- ---- ASSETS Current assets: Cash and cash equivalents $215,493 $165,970 Accounts receivable 205,440 253,496 Inventories 313,457 340,244 Deferred income taxes 13,482 15,517 Prepaid expenses and other 10,184 11,742 ------ ------ Total current assets 758,056 786,969 Property, plant and equipment, net 195,548 179,123 Goodwill, net - 7,275 Deferred income taxes 7,423 2,620 Other 15,649 16,243 ------ ------ Total assets $976,676 $992,230 ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of long-term debt and capital lease obligations $17,000 $16,694 Accounts payable 207,804 231,638 Customer deposits 27,180 26,863 Accrued liabilities: Salaries and wages 26,602 41,086 Other 32,589 31,611 ------ ------ Total current liabilities 311,175 347,892 Long-term debt and capital lease obligations, net of current portion 138,301 154,532 Other liabilities 18,932 15,861 Shareholders' equity: Common stock, $.01 par value, 200,000 shares authorized, 46,905 and 46,772 shares issued, respectively, and 39,459 and 39,326 shares outstanding, respectively 469 468 Additional paid-in-capital 362,672 353,105 Common stock held in treasury, at cost, 7,446 shares for both periods (200,110) (200,110) Retained earnings 340,984 309,708 Accumulated other comprehensive income 4,253 10,774 ----- ------ Total shareholders' equity 508,268 473,945 ------- ------- Total liabilities and shareholders' equity $976,676 $992,230 ======== ========

Plexus Corp.

CONTACT: Ginger Jones, VP and Chief Financial Officer of Plexus Corp.,
+1-920-751-5487, ginger.jones@plexus.com

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

Jedi Mind, Inc. Industry Revenue

CARDIFF, Calif., July 29 /PRNewswire-FirstCall/ -- Jedi Mind, Inc. (Pink Sheets: JEDM) has positioned the Company at the ground-level for software development of thought controlled technologies in the fast growing video games industry. Jedi Mind, Inc. believes this new technology will revolutionize the way humans interact with machines and computers now and into the future. The video games industry is growing at a blistering pace, with annual sales reaching $21.33 Billion in 2008. This was a 19% increase from the prior year and sets a new record for total industry sales.

The Company is at the early phase of game development for thought controlled technology and plans to emerge as the leader in this new paradigm of human-computer interaction. Brent Fouch, CEO, stated, " It is much like the Nintendo Wii when it first came out. The industry never believed video games could be played through the motion technology associated with this new platform. The Company believes the core technology associated with thought controlled applications developed will exceed the success of the popular Nintendo Wii."

Jedi Mind, Inc. develops software for thought controlled technologies, allowing the user to interact with the computer and other machines through the power of the mind. The technology involves the use of a wireless headset, developed by our strategic partner, which detects brainwaves on both the conscious and non-conscious level. This revolutionary neural processing technology makes it possible for computers to interact directly with the human brain. The Company plans to create multiple video games that are controlled by the power of your mind, which will be sold individually or bundled with the wireless headset.

Safe Harbor:

From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.

WWW.JediMindInc.com

Jedi Mind, Inc.

CONTACT: Jedi Mind, Inc., +1-760-753-7163, Contact@JediMindInc.com

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

Dewey Electronics Mourns Passing of Co-Founder and Chairperson Frances Dewey

OAKLAND, N.J., July 29 /PRNewswire-FirstCall/ -- The Dewey Electronics Corporation (BULLETIN BOARD: DEWY) is saddened to announce the death of the Company's Chairperson of the Board of Directors and Secretary, Mrs. Frances D. Dewey. Frances passed away on Saturday, July 25, 2009, at the age of 82.

Mrs. Dewey and her late husband, Gordon C. Dewey, co-founded Dewey Electronics in 1955 as a systems oriented research and development organization that designed and built electronic and electromechanical equipment for use by the U.S. Navy and Air Force. Today the Company operates in a number of diversified product areas providing a wide range of military systems products to various agencies of the U.S. Department of Defense.

John H.D. Dewey, son of Frances and Gordon, has led the Company as President and Chief Executive Officer since 2002, and has been a member of its Board of Directors since 1999.

"The Company extends its deepest sympathy to John Dewey and to Mrs. Dewey's other children, Frances W. Dewey and Frederick R. Dewey. Frances will be missed by all that had the pleasure of working with her," said John B. Rhodes, a member of the Company's Board of Directors.

Funeral arrangements are pending and will be made public by the family. About The Dewey Electronics Corporation

The Dewey Electronic Corporation, founded in 1955, is a diversified manufacturer of sophisticated electronic and electromechanical systems for the military. Visit our website at http://www.deweyelectronics.com/.

This release contains forward-looking statements as defined in Section 21E of the Securities and Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties including those involved in the Company's dependence upon its Department of Defense business, as further described in our filings under the Securities Exchange Act.

KCSA Garth Russell CONTACT: (212) 896-1250 grussell@kcsa.com http://www.kcsa.com/

The Dewey Electronics Corporation

CONTACT: Garth Russell, KCSA, +1-212-896-1250, grussell@kcsa.com

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

Xenos F2009 Third Quarter Conference Call Notice

TORONTO, July 29 /PRNewswire-FirstCall/ -- Xenos Group Inc. (TSX: XNS) issued notice today that it will report its fiscal 2009 third quarter results prior to market open on Wednesday, August 12, 2009.

A conference call for shareholders, analysts and other members of the investment community has been scheduled for August 12 at 10:00am (Eastern Time). Stuart Butts, Chairman, President CEO, and George Kypreos, CFO, will discuss the financial results and provide updates on operations. To participate, please dial 416-644-3435, or 1-800-594-3615 approximately 10 minutes before the conference call.

The conference can also be heard over the Internet at http://www.xenos.com/. A recording of the conference call will be available through August 19. Please dial 416-640-1917 or 1-877-289-8525 and enter the reservation number 21311854 followed by the number sign to listen to the rebroadcast. The call will also be archived for 30 days on the Xenos web site at http://www.xenos.com/.

About Xenos Group Inc.

Xenos (TSX:XNS) is the market-leading provider of high-performance software solutions that deliver a superior Return on Information(TM) by Streamlining Enterprise Information Supply Chains(TM). The company's solutions, based on the scalable Xenos Enterprise Server(TM) and its components, process, extract, transform, repurpose and personalize high volumes of data and documents for storage, real-time access, ePresentment, printing and delivery in numerous formats across multiple channels. By readily repurposing, integrating with and extending the business value of existing technology, infrastructure and business applications, Xenos solutions empower organizations to adapt to changing market demands. They also improve operational efficiency, enhance business processes, reduce risk for compliance management and increase employee productivity with lowered total cost of ownership both for the enterprise and for its customers. Xenos supports Green IT initiatives by empowering organizations to "Reduce Reuse Recycle" information resources.

Xenos customers are among the largest organizations worldwide, spanning numerous industries including financial services and insurance. Xenos has offices in Canada, the United States, the United Kingdom and France and a global partner network. For more information, visit http://www.xenos.com/.

Xenos Group Inc.

CONTACT: Investor Relations Contact: Cory Pala, Xenos Group Inc., (416)
657-2400, cpala@xenos.com

Acorn Energy Announces Retention of Cameron Associates for Investor Relations Services

MONTCHANIN, Del., July 29 /PRNewswire-FirstCall/ -- Acorn Energy, Inc. , an energy technology holding company, today announced that it has retained the services of Cameron Associates, Inc., a leading investor relations and strategic advisory firm, to assist in the Company's shareholder communications program. Cameron Associates, founded in 1976, is a New York-based, full-service investor relations firm that currently advises over 35 public companies. The firm has a wealth of experience representing fast growing emerging companies.

"Acorn Energy has built a portfolio of companies focused on providing advanced and timely technological solutions to significant challenges within the energy sector," commented Chief Executive Officer John Moore. "We believe Cameron will help us communicate our compelling story and gain greater understanding and visibility within the investment community. We look forward to benefiting from their insight into the capital markets and from their relationships within the financial community gained from over three decades of IR experience with companies like Acorn."

About Cameron Associates

Founded in 1976, Cameron Associates, Inc. is a New York City-based, full-service investor relations firm providing strategic counsel to a select group of public companies. The firm is particularly focused on assisting emerging companies in the U.S. who need guidance in achieving key business goals, such as improved visibility and reputation in the equity markets, proper positioning of complex financial transactions, and communicating critical corporate issues. For more information visit http://www.cameronassoc.com/

About Acorn Energy, Inc.

Acorn Energy, Inc. is a publicly traded holding company with equity interests in CoaLogix, Coreworx, DSIT and GridSense. These companies leverage advanced technologies to transform and upgrade the energy infrastructure around the world. Acorn companies are focused on three problems in the energy sector: improving the efficiency of the energy grid, reducing the risk for owners of large energy assets, and reducing the environmental impact of the energy sector. Acorn's strategy is to take primarily controlling positions in companies led by great entrepreneurs. For more information visit http://www.acornenergy.com/

Safe Harbor Statement

This press release includes forward-looking statements, which are subject to risks and uncertainties. There is no assurance that CoaLogix, DSIT, Coreworx or GridSense will continue to grow their respective businesses. A complete discussion of the risks and uncertainties which may affect Acorn Energy's business generally is included in "Risk Factors" in the Company's most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.

Media Contact: Julia Davis Marketing Manager Acorn Energy Inc. (302) 656 1707 jdavis@acornenergy.com Investor Contact: Paul Henning Cameron Associates (212) 554-5462 Paul@cameronassoc.com

Acorn Energy, Inc.

CONTACT: Media: Julia Davis, Marketing Manager, Acorn Energy Inc.,
+1-302-656-1707, jdavis@acornenergy.com; Investors: Paul Henning, Cameron
Associates, +1-212-554-5462, Paul@cameronassoc.com

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

Carrier Corp. Factory Among First Worldwide to Receive LEED-EB Certification

CHARLOTTE, N.C., July 29 /PRNewswire-FirstCall/ -- Carrier Corp., a world leader in heating, ventilation, air conditioning and refrigeration (HVACR), was awarded Leadership in Energy and Environmental Design (LEED ) certification for its Charlotte Chiller Operation plant. This is one of eleven manufacturing facilities in the world to achieve LEED status for existing buildings (LEED-EB) and one of the first two United Technologies Corp. factories (both Carrier sites) to achieve this status.

The LEED rating system is a standard process for the certification of buildings that meet sustainable design criteria published by the United States Green Building Council (USGBC). Buildings that are LEED certified are deemed to be more energy efficient, produce fewer carbon emissions and use less water and other natural resources.

United Technologies (UTC) made a commitment in January 2008 that all new facilities for which they had majority ownership and all new build-to-suit leaseback facilities with a lease term of greater than 10 years would be required to include sustainable features that enable a minimum of LEED certified and a target of a LEED Gold rating.

Rick Fedrizzi, President, CEO and Founding Chairman, USGBC, congratulated Carrier saying, "UTC and Carrier have demonstrated continuous leadership in sustainability and the built environment. This recent accomplishment is another example of that leadership. We believe that every manufacturing employee should work in a green facility, and we remain single-mindedly committed to delivering on our vision of green buildings for everyone within a generation."

To achieve LEED certification, the Charlotte factory's employees developed an alternative transportation plan which included bicycle storage and preferred parking for alternative fuel vehicle users. They also installed fluorescent lighting, improved indoor air quality, and instituted green housekeeping. "We have reduced the impact to the environment in numerous ways and have already seen a 20 percent improvement in energy efficiency in the Charlotte facility," stated Charlie Figueroa, vice president and general manager, North America Commercial Applied Equipment.

"Energy efficiency and environmental stewardship is a top priority for Carrier," noted Kelly Romano, president, Carrier Building Systems and Services. "We have set goals to reduce emissions, waste and water consumption over the next several years. This recognition for our Charlotte factory confirms our commitment to minimizing our impact on the planet and providing customers and employees with safe and healthy workplaces."

John Mandyck, vice president, Sustainability and Environmental Strategies added, "Green products start in green factories, which makes our achievement in Charlotte a natural evolution of Carrier's approach to sustainability." Committed to advancing sustainable buildings across the globe, Carrier is the only company in the world to be a founding member of the U.S., China and India green building councils.

For more information on United Technologies and Carrier Corporation's commitment to environmental stewardship, visit http://www.utc.com/ and http://www.carrier.com/.

About Carrier Corp.

Carrier Corp., headquartered in Farmington, Conn., is the world's largest provider of heating, air-conditioning and refrigeration solutions, with operations in more than 170 countries. Carrier is part of United Technologies Corp., a Hartford, Connecticut-based provider of products and services to the aerospace and building systems industries worldwide. Visit http://www.carrier.com/ for more information.

About USGBC

The Washington, D.C.-based U.S. Green Building Council is committed to a prosperous and sustainable future for our nation through cost-efficient and energy-saving green buildings. With a community comprising 78 local affiliates, more than 20,000 member companies and organizations, and more than 100,000 LEED Accredited Professionals, USGBC is the driving force of an industry that is projected to soar to $60 billion by 2010. The USGBC leads an unlikely diverse constituency of builders and environmentalists, corporations and nonprofit organizations, elected officials and concerned citizens, and teachers and students.

Carrier Corp.

CONTACT: Christine Hiney of Carrier Corp., +1-315-432-7176,
Christine.hiney@carrier.utc.com

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

TechTeam Global to Announce Second Quarter 2009 Financial Results on August 6, 2009

SOUTHFIELD, Mich., July 29 /PRNewswire-FirstCall/ -- TechTeam Global, Inc., , a worldwide provider of information technology outsourcing and business process outsourcing services, has scheduled the release of its second quarter 2009 financial results for approximately 4:05 p.m. EDT, Thursday, August 6, 2009. The company will also host an investor teleconference at 4:30 p.m. EDT, Thursday, August 6, 2009 to discuss its second quarter 2009 financial results.

To participate in the teleconference, including the question and answer session that will follow the results announcement and discussion, please call 1-800-260-8140. If dialing from outside the United States, call +1-617-614-3672. When prompted, enter the passcode: 79205042. To access a simultaneous Web cast of the teleconference, go to the TechTeam Global Web site at http://www.techteam.com/investors and click on the Web cast icon. From this site, you can download the necessary software and listen to the teleconference. TechTeam encourages you to review the site before the teleconference to ensure that your computer is configured properly.

A taped replay of the call will be available at approximately 7:30 p.m. EDT, Thursday, August 6, 2009. This toll-free replay will be available through Thursday, August 20, 2009. To listen to the teleconference replay, call 1-888-286-8010. If dialing from outside the United States, call +1-617-801-6888. When prompted, enter the passcode: 35364758.

About TechTeam Global, Inc.

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

Contacts: TechTeam Global, Inc. Boscobel Marketing Communications Margo Loebl Jessica Klenk VP, Chief Financial Officer and 301-588-2900 Ext. 121 Treasurer 248-357-2866 jklenk@boscobel.com mloebl@techteam.com

TechTeam Global, Inc.

CONTACT: TechTeam Global, Inc., Margo Loebl, VP, Chief Financial Officer
and Treasurer, +1-248-357-2866, mloebl@techteam.com, or Boscobel Marketing
Communications, Jessica Klenk, +1-301-588-2900 Ext. 121, jklenk@boscobel.com

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

Call for Entries for TelcoTV Vision Awards

IRVINE, California, July 29 /PRNewswire/ --

- High-profile promotion opportunity at industry's premier converged entertainment show

Applications are now being solicited for the Vision Awards to be presented at the eighth annual TelcoTV conference and expo in November 2009. Entry for these prestigious awards means the highest-profile exposure at the world's number one converged entertainment showcase, as well as recognition for outstanding innovation in video and entertainment convergence. Awards will be granted to the most compelling new products, applications, or services in each of eight categories: Broadband Access Network, Conditional Access, Customer Premises Equipment, Middleware, Encoding, two awards for Service Provider Innovation, and a new category for 2009 -- Test and Measurement.

To be eligible for nomination, the product or service must have been launched no earlier than last year's TelcoTV event (held November 2008). Winners will be announced at a highlight presentation during TelcoTV, November 10-12, 2009, at the Orange County Convention Center in Orlando, Fla. The nomination deadline is October 5, 2009. Submissions will be judged by a panel of industry experts, including TelcoTV management, service providers, industry consultants, and editorial staff. For further information and the online nomination form, visit www.TelcoTVonline.com.

"This is a great opportunity to gain optimum exposure at what has long been recognized as the leading industry event for converged entertainment," says Joseph Braue, Group Director of TechWeb's Light Reading division, which co-produces the event with NTCA. "Even if you don't get short-listed as a finalist, everyone nominated will be featured on the TelcoTV Website. It's good for team morale to honor the hard work they put in by nominating their product or service, and taking home top honors provides a compelling reason for press to talk about your company -- all winners can get quotes from an award judge for use in their press releases and marketing materials. TelcoTV offers exceptional opportunities for collaboration across the entertainment and telecommunication industries, and these Vision Awards are our way to celebrate those vendors and service providers who help make our show such a success."

The categories are as follows: -- Innovation in Broadband Access Network - including products designed for FTTH or DSL technologies -- Innovation in Conditional Access - including digital rights management and encryption technologies -- Innovation in Customer Premises Equipment - including set-top boxes and residential gateways -- Innovation in Test & Measurement - including service assurance and performance management -- Innovation in Middleware - including set-top box and back-end management software -- Innovation in Encoding - including all codec and encoding technologies for mobile or terrestrial applications -- Service Provider's Innovation Award (10,000+ video subscribers) - can include any new application or offering deployed by a service provider with more than 10,000 video subscribers -- Service Provider's Innovation Award (fewer than 10,000 video subscribers) - can include any new application or offering deployed by a service provider with 10,000 or fewer video subscribers Online submission forms for the awards may be found at: http://www.lightreading.com/live/default.asp?event_id=29081&survey_id=598 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 UBM (UBM.L) focuses on two principal activities: worldwide information distribution, targeting and monitoring; and, the development and monetisation of B2B communities and markets. UBM's businesses inform markets and serve professional commercial communities - from doctors to game developers, from journalists to jewelry traders, from farmers to pharmacists - with integrated events, online, print and business information products. Our 6,500 staff in more than 30 countries are organised into specialist teams that serve these communities, bringing buyers and sellers together, helping them to do business and their markets to work effectively and efficiently. For more information, go to http://www.unitedbusinessmedia.com About NTCA The National Telecommunications Cooperative Association is the premier association representing more than 580 locally owned and managed telecommunications cooperatives and commercial companies throughout rural America. NTCA provides its members with legislative, regulatory, and industry representation; meetings; publications and educational programs; and an array of employee benefit programs. Visit us at www.ntca.org.

CONTACT: Bruce Reid Account Director, North America Zonic Group Tel: +1-831-480-2312 breid@zonicgroup.com

TechWeb

XATA Corporation to Report Third Quarter Fiscal 2009 Results

MINNEAPOLIS, July 29 /PRNewswire-FirstCall/ -- XATA Corporation today announced that the Company will report financial results for the third quarter ending June 30, 2009, on Wednesday, August 5, 2009 before the market opens. A copy of the news release will be available on-line at http://www.xata.com/.

About XATA

Based in Minneapolis, Minnesota, XATA Corporation is an expert in optimizing fleet operations by reducing costs and ensuring regulatory compliance for the trucking industry. With the introduction of XATANET in 2004, our customers now have access to vehicle data anywhere, anytime, through a fee-based subscription service. Our software and professional services help companies manage fleet operations, enhance driver safety and deliver a higher level of customer satisfaction. XATA provides expert services to develop the business processes required to deliver the profitability, safety and service level demanded by today's competitive transportation environments. XATA was the first company to introduce electronic driver logs and exception-based management reporting. For more information, visit http://www.xata.com/ or call 1-800-745-9282.

XATA Corporation

CONTACT: Mark Ties of XATA Corporation, +1-952-707-5648,
mark.ties@xata.com

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

Borders Names Goldstein Vice President, Marketing Revenue

ANN ARBOR, Mich., July 29 /PRNewswire/ -- Borders Group, Inc. has promoted Joanna Goldstein to the newly created position of Vice President, Marketing Revenue. Goldstein, 33, will be responsible for developing and managing cooperative marketing promotions and sales-driving initiatives with publishers as well as other vendors and third-party marketing partners.

(Logo: http://www.newscom.com/cgi-bin/prnh/20060208/BORDERSLOGO )

At Borders, Goldstein previously served as Merchandising Director, Newsstand, Calendars, Games and Trend Gifts, a post she held since joining the company in 2006. In this role, Goldstein was responsible for negotiating vendor agreements and driving revenue and profits across all four business categories. Prior to Borders, she was with Source Interlink Companies for seven years, most recently as Senior Director, Retail Services, where she managed $400 million in newsstand sales for 3,500 retail outlets, including 10 national chains. Earlier, she served as Director, Publisher Services for Source Interlink, where she managed bookstore and account fulfillment for more than 1,500 magazine titles.

Goldstein earned a bachelor's degree in 1998 from George Washington University, Washington, D.C.

"We look forward to establishing stronger marketing relationships with publishers and others with the goal of building our collective business results," said Art Keeney, Borders Group's Senior Vice President, Marketing. "Joanna's demonstrated success at negotiating effective agreements with companies in the newsstand and other business categories, as well as her focus on driving results, will help us build even more effective marketing promotions in conjunction with our business allies."

About Borders Group

Headquartered in Ann Arbor, Mich., Borders Group, Inc. is a leading retailer of books, music and movies with approximately 25,000 employees worldwide. Through its subsidiaries, the company operates more than 1,000 stores primarily under the Borders and Waldenbooks brand names and offers online shopping through Borders.com. For more information about the company, visit http://www.borders.com/aboutus.

Photo: http://www.newscom.com/cgi-bin/prnh/20060208/BORDERSLOGO Borders Group, Inc.

CONTACT: Mary Davis of Borders Group, Inc., +1-734-477-1374,
mdavis4@bordersgroupinc.com

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

Michigan IT Companies Helping the University of Miami Center for Patient Safety Tackle a Leading Cause of Death Using an RTLS Solution to Monitor Staff Hand-Washing ComplianceDynamic Computer Corporation (DCC) is piloting a cutting-edge sensor-based hand hygiene compliance solution to prevent healthcare-associated infections (HAIs) at the University of Miami Center for Patient Safety. HAIs are among the top ten causes of death in the US

FARMINGTON HILLS, Mich., July 29 /PRNewswire/ -- The University of Miami UM-JMH Center for Patient Safety has successfully launched a hand hygiene compliance (HHC) pilot project with the help of two Michigan-based technology businesses who specialize in health care real-time locating solutions (RTLS).

Dynamic Computer Corporation is a health care RTLS systems integrator based in Farmington Hills, Mich. Traverse City -based Versus Technology designed the automatic HHC system using their patented infrared - radio frequency (IR-RF) technology that has been deployed in hundreds of hospitals for automating patient workflow events. The HHC solution can be deployed as a standalone system or as part of an enterprise RTLS system.

How the HHC solution works

The solution uses small IR-RF sensors in soap dispensing units that read staff ID badges and monitor the location and timing of hand-washing events. Employees hear a verification sound upon successful information capture about whom, when and where the hand washing event has occurred.

"Nothing matters more than the safety of our patients. That's why we are working with Versus and DCC to create an exciting, technologically-advanced system to decrease healthcare-associated infections," said David J. Birnbach, M.D., M.P.H., Director, UM-JMH Center for Patient Safety.

The goal of the HHC solution is to prevent healthcare-associated infections (HAIs) by promoting evidence-based practices and fostering a culture of safety and accountability. Hospitals are able to accurately track and report on HHC compliance in real time, and retroactively to monitor problem areas for additional training where necessary. Staff members are alerted in real time when they forget to wash their hands, before an adverse event takes place.

"This is a reliable and affordable solution with compound benefits for hospitals seeking to improve patient care and processes while greatly reducing costs," said Farida Ali, DCC President & CEO. "This is just one example of how innovative technologies are transforming the way we deliver care. Everyone is a stakeholder."

Henry Tenarvitz, Chief Intellectual Property Officer of Versus agrees, "It is very important to Versus Technology that we provide solutions that not only reduce the potential for hospital acquired infections, but do so in a way that increases hospital staff efficiency." Tenarvitz continued, "Our commitment to making compliance systems affordable has driven Versus to discover ways to leverage existing nurse call infrastructure to control installation costs."

The UM-JMH Center for Patient Safety is planning to use the system to train students, resident physicians and nurses, and to advance their mission of preventing medical errors and improving patient safety.

"The expertise of these partners is the ideal complement for our mission, and together we can create a culture of patient safety," said Dr. Birnbach.

How big is the HAI problem?

"Americans don't expect to get additional infections when they go into the hospital. Stopping health care associated infections and improving the quality of care is one of our top priorities," stated HHS Secretary Kathleen Sebelius in an press release earlier this month.

According to the CDC, HAIs account for about 1.7 million infections and 99,000 deaths each year. Most of these are preventable by proper hand washing. Here are a few facts from the CDC's March 2009 report on the direct medical costs of HAIs.

-- There are about 4.5 HAIs for every 100 hospital admissions. -- Direct annual costs to US hospitals (adjusted for inflation) range from $28.4-$33.8 billion to $35.7 - $45 billion. -- Anywhere from about 20-70 percent of HAIs are preventable, equaling a saving s of $5.6-$6.8 billion to $25-31.5 billion to the healthcare system with effective prevention measures. -- "HAIs in hospitals are a significant cause of morbidity and mortality in the United States"(Health Public Reports, 2007).

For more information on RF-integrated HHC solutions, contact Dynamic at http://www.dynamicrfidsolutions.com/contact or call toll free 866-257-2111.

About Dynamic Computer Corporation (Est. 1979). http://www.dcc-online.com/ http://www.dynamicrfidsolutions.com/ About Versus Technology Inc. (Pink Sheets: VSTI). http://www.versustech.com/ About UM-JMH Center for Patient Safety Hand Hygiene Training Program http://anesthesiology.med.miami.edu/x356.xml

Dynamic Computer Corporation

CONTACT: Dynamic Computer Corporation: Mika Lofton, Marketing Manager,
+1-248-473-2200 x105, mlofton@dcc-online.com; or Versus Technology, Inc.:
Stephanie Bertschy, Director of Marketing, +1-231-946-5868,
skb@versustech.com

Web Site: http://www.dcc-online.com/

Valspar Announces Release of Granite(TM) CoatingNew polyester provides flexibility with a tough exterior.

GARLAND, Texas, July 29 /PRNewswire-FirstCall/ -- The Valspar Corporation introduces Granite, an innovate polyester coating developed for pre-painted metal products that require superior flexibility, scratch and stain resistance as well as advanced adhesion performance when exposed to moist environments. These new polyester coatings are ideal for many coated coil applications including garage doors, truck trailer, rainware and certain building panel applications. Granite coatings are available in a wide spectrum of colors with low, medium, or high gloss.

Valspar chemists developed this breakthrough technology in 2008 when challenged to provide a new polyester coating flexible enough to be compatible with rigorous forming patterns, yet also be tough enough to provide superior hardness.

"The Granite polyester system provides exceptional hardness and flexibility and, in some cases, beyond the stated specification," said Jeff Alexander, Valspar vice-president, coil coatings. "In addition, the stain resistance that we have seen is far above any technology in these markets today."

The Granite coating was designed to be used as a single coat application over aluminum. Lab and field tests prove this coating can achieve a 0T bend which allows for more design options. Scratch resistance tests show pencil hardness results up to 4H compared to the industry standard of F-2H. HDG steel, CRS, and Galvalume substrates can be coated with Granite coatings. A primer should be used over steel.

Valspar is also targeting the truck/trailer market with this unique polyester product. Carbon slurry lab tests show that Granite coatings can be cleaned faster and more completely than traditional acrylics and competitive polyesters using household detergent and cheese cloth.

Granite coatings are available from leading coil coaters, pre-painted coil distribution centers, and aluminum product manufacturers.

About Valspar

The Valspar Corporation is a global leader in the paint and coatings industry. Since 1806, Valspar has been dedicated to bringing customers the latest innovations, the finest quality and the best customer service in the coatings industry. For more information on this release, visit http://www.paintandcolor.com/. For more company information, visit http://www.valsparglobal.com/.

Valspar Corporation

CONTACT: Mary Ann Johnson, Communications Manager of Valspar,
+1-972-487-7218, Fax, +1-972-487-7245, mjohnson@valspar.com

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

CA Declares Quarterly Dividend

ISLANDIA, N.Y., July 29 /PRNewswire-FirstCall/ -- CA, Inc. today announced that its Board of Directors has declared a regular, quarterly cash dividend of $0.04 per share. The dividend will be paid on August 19, 2009 to stockholders of record at the close of business on August 10, 2009.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090402/NYTH500LOGO) About CA

CA , the world's leading independent IT management software company, helps customers optimize IT for better business results. CA's Enterprise IT Management solutions for mainframe and distributed computing enable Lean IT -- empowering organizations to more effectively govern, manage and secure their IT operations. For more information, visit http://www.ca.com/.

Connect with CA -- CA Social Media Page -- CA Newsletters -- CA Press Releases -- CA Podcasts Trademarks

Copyright 2009 CA. All Rights Reserved. One CA Plaza, Islandia, N.Y. 11749. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.

Contacts: Michelle Healy Carol Lu Public Relations Investor Relations (631) 342-4701 (212) 415-6920 michelle.healy@ca.com carol.lu@ca.com

Photo: http://www.newscom.com/cgi-bin/prnh/20090402/NYTH500LOGO CA

CONTACT: Michelle Healy Public Relations, +1-631-342-4701,
michelle.healy@ca.com, or Carol Lu, Investor Relations, +1-212-415-6920,
carol.lu@ca.com

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

LivePerson to Present at Canaccord Adams 29th Annual Global Growth Conference

NEW YORK, July 29 /PRNewswire-FirstCall/ -- LivePerson, Inc. , a provider of online engagement solutions that facilitate real-time assistance and expert advice, today announced that President and CFO Tim Bixby will present at the Canaccord Adams Annual Global Growth Conference, to be held at the InterContinental in Boston on Wednesday August 12, 2009. LivePerson's presentation will be held at 5:00 PM ET on August 12, and will include a review of the company's business strategy and historical financial results. Additional information regarding the conference can be found at http://www.canaccordadams.com/aboutus/events.htm .

About LivePerson

LivePerson is a provider of online engagement solutions that facilitate real-time assistance and expert advice. Connecting businesses and experts with consumers seeking help on the Web, LivePerson's hosted software platform creates more relevant, compelling and personalized online experiences. Every month, LivePerson's intelligent platform helps millions of people succeed online; more than 7,000 companies, including EarthLink, Hewlett-Packard, Microsoft, Qwest, and Verizon, rely on LivePerson to maximize the impact of the online channel. LivePerson is headquartered in New York City.

LivePerson, Inc.

CONTACT: Kevin Kohn, +1-212-609-4240, kkohn@liveperson.com

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

Call for Entries for TelcoTV Vision AwardsHigh-profile promotion opportunity at industry's premier converged entertainment show

IRVINE, Calif., July 29 /PRNewswire/ -- Applications are now being solicited for the Vision Awards to be presented at the eighth annual TelcoTV conference and expo in November 2009. Entry for these prestigious awards means the highest-profile exposure at the world's number one converged entertainment showcase, as well as recognition for outstanding innovation in video and entertainment convergence. Awards will be granted to the most compelling new products, applications, or services in each of eight categories: Broadband Access Network, Conditional Access, Customer Premises Equipment, Middleware, Encoding, two awards for Service Provider Innovation, and a new category for 2009 -- Test and Measurement.

To be eligible for nomination, the product or service must have been launched no earlier than last year's TelcoTV event (held November 2008). Winners will be announced at a highlight presentation during TelcoTV, November 10-12, 2009, at the Orange County Convention Center in Orlando, Fla. The nomination deadline is October 5, 2009. Submissions will be judged by a panel of industry experts, including TelcoTV management, service providers, industry consultants, and editorial staff. For further information and the online nomination form, visit http://www.telcotvonline.com/.

"This is a great opportunity to gain optimum exposure at what has long been recognized as the leading industry event for converged entertainment," says Joseph Braue, Group Director of TechWeb's Light Reading division, which co-produces the event with NTCA. "Even if you don't get short-listed as a finalist, everyone nominated will be featured on the TelcoTV Website. It's good for team morale to honor the hard work they put in by nominating their product or service, and taking home top honors provides a compelling reason for press to talk about your company -- all winners can get quotes from an award judge for use in their press releases and marketing materials. TelcoTV offers exceptional opportunities for collaboration across the entertainment and telecommunication industries, and these Vision Awards are our way to celebrate those vendors and service providers who help make our show such a success."

The categories are as follows: -- Innovation in Broadband Access Network - including products designed for FTTH or DSL technologies -- Innovation in Conditional Access - including digital rights management and encryption technologies -- Innovation in Customer Premises Equipment - including set-top boxes and residential gateways -- Innovation in Test & Measurement - including service assurance and performance management -- Innovation in Middleware - including set-top box and back-end management software -- Innovation in Encoding - including all codec and encoding technologies for mobile or terrestrial applications -- Service Provider's Innovation Award (10,000+ video subscribers) - can include any new application or offering deployed by a service provider with more than 10,000 video subscribers -- Service Provider's Innovation Award (fewer than 10,000 video subscribers) - can include any new application or offering deployed by a service provider with 10,000 or fewer video subscribers Online submission forms for the awards may be found at: http://www.lightreading.com/live/default.asp?event_id=29081&survey_id=598 About Light Reading

Founded in 2000, Light Reading (http://www.lightreading.com/) is the leading online media, research, and focused event company serving the $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 $2.5 billion.

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

About United Business Media Limited

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

About NTCA

The National Telecommunications Cooperative Association is the premier association representing more than 580 locally owned and managed telecommunications cooperatives and commercial companies throughout rural America. NTCA provides its members with legislative, regulatory, and industry representation; meetings; publications and educational programs; and an array of employee benefit programs. Visit us at http://www.ntca.org/.

CONTACT: Bruce Reid Account Director, North America Zonic Group Tel: (831) 480 2312 breid@zonicgroup.com

TechWeb

CONTACT: Bruce Reid, Account Director, North America, Zonic Group,
+1-831-480 2312, breid@zonicgroup.com

Web Site: http://www.telcotvonline.com/
http://techweb.com/aboutus

Verizon Wireless Kicks Off Wireless Phone Recycling Drive to Benefit Women's Center and Shelter of Greater PittsburghThree Pittsburgh-area Communications Stores to Participate in August Drive

WARRENDALE, Pa., July 29 /PRNewswire/ -- One out of every four American women will be a victim of domestic violence at some point during her life. Through its exclusive HopeLine program, Verizon Wireless will demonstrate its commitment to ending the epidemic of domestic violence by holding a one-month phone collection drive at three Pittsburgh-area Verizon Wireless Communications Stores. The drive will benefit the Women's Center and Shelter of Greater Pittsburgh.

Starting on Saturday, August 1, community members can bring their unwanted wireless phones and accessories from any wireless provider to the Verizon Wireless Communications Stores at the following locations:

-- Century III Mall in West Mifflin; -- The Waterfront in Homestead; -- South Hills Village in Bethel Park.

The company's long-running HopeLine program collects no-longer-used wireless phones and equipment in any condition from any wireless service provider. The used phones are either refurbished or recycled. With the funds raised from the sale of the refurbished phones, Verizon Wireless donates wireless phones and airtime to victims, and provides funding and other contributions to non-profit domestic violence shelters and prevention programs across the country.

"In 2008, Pennsylvanians donated nearly 70,000 phones to the HopeLine program," said Roger Tang, president-Ohio/Pennsylvania/West Virginia Region, Verizon Wireless. "It's because of our customers' continued support of HopeLine that we are able to make a difference in the lives of domestic violence victims."

At the conclusion of the month-long phone drive, Verizon Wireless will present a check to the Women's Center and Shelter to benefit programs at the center that are geared toward helping victims begin to rebuild their lives.

About Verizon Wireless

Verizon Wireless operates the nation's most reliable and largest wireless voice and data network, serving 87.7 million customers. Headquartered in Basking Ridge, N.J., with more than 87,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, visit http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

Verizon Wireless

CONTACT: MEDIA: Laura Merritt, Verizon Wireless, +1-614-345-3210,
laura.merritt@VerizonWireless.com; Jeff Donaldson, For Verizon Wireless,
+1-412-642-7700, jeff.donaldson@elias-savion.com

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

Stryker Announces Election of New Director

KALAMAZOO, Mich., July 29 /PRNewswire-FirstCall/ -- Stryker Corporation announced an increase in the size of its Board of Directors to nine and the election of Dr. Srikant M. Datar as a director.

Dr. Datar serves as Senior Associate Dean and Director of Research at the Graduate School of Business Administration of Harvard University. He also holds the Arthur Lowes Dickinson Professorship at Harvard University since joining that organization in 1996.

Dr. Datar has previously been a professor at Carnegie Mellon University and at Stanford University. He has also advised and worked with many corporations on consulting and field-based projects on implementation and execution.

Dr. Datar graduated with distinction from the University of Bombay. He is a Chartered Accountant and holds master's degrees in both Statistics and Economics and a Ph.D. in Business Administration from Stanford University.

Dr. Datar is a director of Novartis AG, ICF International, Inc. and KPIT Cummins Infosystems Limited.

John W. Brown, Chairman of the Board of Stryker Corporation, said, "We are delighted that Dr. Datar has joined our Board and look forward to his contributions, particularly from his global perspective and accounting expertise."

Stryker Corporation is one of the world's leading medical technology companies with the most broadly based range of products in orthopaedics and a significant presence in other medical specialties. Stryker works with respected medical professionals to help people lead more active and more satisfying lives. The Company's products include implants used in joint replacement, trauma, craniomaxillofacial and spinal surgeries; biologics; surgical, neurologic, ear, nose & throat and interventional pain equipment; endoscopic, surgical navigation, communications and digital imaging systems; as well as patient handling and emergency medical equipment. For more information about Stryker, please visit http://www.stryker.com/.

Stryker Corporation

CONTACT: Katherine A. Owen, Vice President, Strategy and Investor
Relations, Stryker Corporation, +1-269-385-2600

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

Watch the Webcast Replay From the Verizon Developer Community Conference

BASKING RIDGE, N.J., and SAN JOSE, Calif., July 29 /PRNewswire/ --

WHO: Verizon Wireless, the nation's leading wireless provider. WHAT: The webcast of the Verizon Developer Community (VDC) Conference will be available later today for replay at http://www.vdc2009.com/. The VDC Conference provided mobile applications developers with an overview of the VDC, including technical, marketing and network information from Verizon Wireless and other industry leaders. Speakers for the morning sessions included: -- Lowell McAdam, chief executive officer, Verizon Wireless -- John Stratton, chief marketing officer, Verizon -- Roger Gurnani, senior vice president, product development, Verizon Wireless -- Jim Balsillie, co-chief executive officer, Research In Motion -- Masayoshi Son, chairman and chief executive officer, Softbank Mobile (via video) -- Executives with developer partners discussing their experiences launching applications with Verizon Afternoon deep-dive sessions are also available for viewing on the Web. WHERE: To watch the replay of the webcast, visit http://www.vdc2009.com/. Information on yesterday's agenda and speakers is available on the site. Developers can also see what happened at the show on Twitter at http://www.twitter.com/VDCConference. WHEN: Available immediately. BACKGROUND: The VDC Conference provided mobile applications developers with an overview of the company's overall strategy around applications; information on a new developer portal; and the process of submitting, launching and revenue sharing for applications on Verizon Wireless devices as well as the upcoming launch of an applications store. Verizon Wireless leaders and other partners addressed technical, marketing and network information. About Verizon Wireless

Verizon Wireless operates the nation's most reliable and largest wireless voice and data network, serving 87.7 million customers. Headquartered in Basking Ridge, N.J., with more than 87,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, visit http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

Verizon Wireless

CONTACT: Jeffrey Nelson, +1-917-968-9175 (mobile),
Jeffrey.Nelson@verizonwireless.com, or Debra Lewis, +1-917-848-0035 (mobile),
Debra.Lewis@verizonwireless.com, both of Verizon Wireless

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

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

TV Choice and Competition Near for Residents of Hull, Mass.Vote Paves the Way for FiOS TV - the Ultimate Home Upgrade for TV Service Delivered Over the Nation's Most Advanced All-Fiber-Optic Network

HULL, Mass., July 29 /PRNewswire/ -- Residents of Hull are a major step closer to having a real choice for their cable television services, thanks to a newly approved agreement authorizing Verizon to offer its FiOS TV service via the most advanced all-digital, fiber-optic network straight to customers' homes.

The Hull Board of Selectmen on Tuesday (July 28) granted a cable franchise to Verizon, authorizing video choice for thousands of households here.

The board's authorization brings to 99 the total number of Massachusetts communities where Verizon's FiOS TV is or will soon be available.

"We are thrilled to bring FiOS TV, an outstanding alternative for video entertainment, to residents in Hull," said Donna Cupelo, Verizon region president for New England. "Since the launch of FiOS TV in Massachusetts, we are continuing our efforts to meet the consumer demand for cable TV choice."

FiOS TV is the company's advanced fiber-optic television service, with superior picture-and-sound quality, innovative and interactive features, more high-definition and on-demand programs, and more reliable service at competitive prices.

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

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

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

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

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

FiOS TV offers a broad collection of programming, with more than 500 all-digital channels and 15,000 video-on-demand (VOD) titles each month -- 70 percent of which are free. Verizon's industry-leading VOD library also includes more than 1,400 HD titles per month.

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

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

Verizon also offers a range of fast, affordable DSL-enabled High Speed Internet service with speeds of up to 1 Mbps/384 Kbps (kilobits per second), 3 Mbps/768 Kbps and 7.1 Mbps/768Kbps* available, as well as wireline voice and all-digital-quality DIRECTV service. For more information on High Speed Internet and Verizon bundled services, visit http://www22.verizon.com/residential/highspeedinternet/.

* NOTE: actual (throughput) speeds will vary.

[In Massachusetts, FiOS TV is available in Abington, Acton, Andover, Arlington, Ashland, Bedford, Bellingham, Belmont, Boxborough, Boxford, Braintree, Burlington, Canton, Danvers, Dedham, Dover, Dunstable, Framingham, Franklin, Georgetown, Grafton, Groton, Hamilton, Hanover, Hingham, Holliston, Hopkinton, Hudson, Ipswich, Kingston, Lakeville, Lawrence, Leominster, Lexington, Lincoln, Littleton, Lynn, Lynnfield, Malden, Mansfield, Marion, Marlborough, Marblehead, Marshfield, Mattapoisett, Maynard, Medfield, Medway, Melrose, Mendon, Methuen, Middleborough, Middleton, Millbury, Nahant, Natick, Needham, Newton, Norfolk, North Andover, North Reading, Northborough, Norwood, Norwell, Plymouth, Reading, Rochester, Rockland, Rowley, Sherborn, Southborough, Stoneham, Stoughton, Stow, Sudbury, Sutton, Swampscott, Taunton, Tewksbury, Topsfield, Tyngsborough, Wakefield, Walpole, Waltham, Wareham, Wayland, Wellesley, Wenham, West Newbury, Westborough, Weston, Westwood, Wilmington, Winchester, Wrentham and Woburn, and will soon be available in Chelmsford, Hull and North Attleborough.]

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 87 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 235,000 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: Richard Colon, +1-781-849-2046, richard.b.colon@verizon.com, or
Phil Santoro, +1-617-743-4760, philip.g.santoro@verizon.com

Web Site: http://www22.verizon.com/residential/highspeedinternet

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

New Log Management Solution from Novell Delivers a Key Building Block for Security and Regulatory Compliance

WALTHAM, Mass., July 29 /PRNewswire-FirstCall/ -- Novell, Inc. today announced a comprehensive log management solution that expands the functionality offered in Novell's security information and event management solutions. Novell Sentinel(TM) Log Manager simplifies fulfillment of audit requirements and improves security by streamlining the management of ever-increasing volumes of raw event data used for risk investigations and compliance reporting.

To meet security and regulatory compliance requirements, organizations store a wealth of information about the activities occurring on their networks, platforms and applications. This includes application and database logs, identity and access management repositories, network device logs, and other systems. These logs are often stored and processed in "silos". This segregation means that those analyzing the logs have an incomplete view of the enterprise's true security posture and are using inefficient manual processes to meet reporting requirements for regulations such as HIPAA, Sarbanes-Oxley, and PCI DSS.

"Successful reaction to new compliance pressures reaches across the organization, from network and security to data management and application delivery," says Chris Howard, vice president and director, Executive Advisory Program, Burton Group. "This reaction requires IT architects to work closely with their business peers in order to ensure both quality of information and appropriate insight. Failure to address both infrastructure and human dynamics of compliance processes puts the enterprise at significant risk."

Novell Sentinel Log Manager simplifies regulatory challenges by intelligently storing, analyzing and reporting on security event data. Customers can take advantage of advanced search and reporting capabilities to produce exactly the view they need for security or compliance audits. To reduce the storage costs endemic with some log management solutions, Sentinel Log Manager provides intelligent filtering which allows customers to choose how long to store particular types of data and offers 10x data compression. These key functionalities provide customers a systematic and comprehensive approach to security and regulatory compliance while providing a rapid return on investment.

"Typically, a university environment includes hundreds of disparate systems and devices that must be monitored in order to comply with PCI-DSS regulations. This includes collecting, archiving, and reporting on data from the sports arena to the campus cafeteria. The appeal of Novell Sentinel Log Manager is its ability to interoperate with the university's wide array of systems, collect data in real-time and quickly and easily search that data to ensure we're secure and compliant at all times," said Randy Hardin, lead systems engineer, University of Dayton I.T.

The new log management capability also integrates seamlessly with Novell's portfolio of compliance management solutions. Only Novell offers the solutions that enable real-time monitoring and remediation of network events by tying identities, systems and data together to deliver a real-time, centralized view of business operations so organizations can automatically enforce security and access-related policies, making it easy to demonstrate compliance.

"Our customers need solutions that deliver efficiency to their ongoing security and risk management programs," said Jim Ebzery, senior vice president and general manager of Identity and Security at Novell. "Adding Sentinel Log Manager to our award-winning line of SIEM products helps customers protect their IT infrastructure, customer and corporate data, while adhering to compliance regulations defined by government and industry."

More information about Novell Sentinel Log Manager pricing and availability can be found at http://www.novell.com/products/sentinel-log-manager/. Novell Sentinel Log Manager can be seen at the Novell booth #3 at the Black Hat USA 2009 conference at Caesars Palace Las Vegas, NV, July 25-30, 2009.

About Novell

Novell, Inc. delivers the best engineered, most interoperable Linux* platform and a portfolio of integrated IT management software that helps customers around the world reduce cost, complexity and risk. With our infrastructure software and ecosystem of partnerships, Novell harmoniously integrates mixed IT environments, allowing people and technology to work as one. For more information, visit http://www.novell.com/.

Novell is a registered trademark and Sentinel is a trademark of Novell, Inc. in the United States and other countries. *All third-party trademarks are the property of their respective owners.

Novell, Inc.

CONTACT: Amie Johnson of Novell, +1-801-861-2893, amie@novell.com; or
Becki Parkhurst or Mariana Pinner, both of PAN Communications,
+1-978-474-1900, securenovell@pancomm.com, for Novell, Inc.

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

Globalive Wireless Awards Alcatel-Lucent Multi-Million Dollar Contract to Build High-Speed 3G Mobile Network in Canada

Alcatel-Lucent (Euronext Paris and NYSE: ALU) has been awarded a multi-million dollar, three-year contract to help build Globalive Wireless' new nationwide 3G mobile network in Canada.

Globalive is focused on launching a new national wireless operation, serving consumers across Canada. In 2009 Globalive was awarded spectrum licenses by Industry Canada after successfully bidding more than CDN $442 million in the government's Advanced Wireless Services auction.

"Our commitment is to provide Canadian consumers with unmatched value. For that we need future-ready technology that enables the delivery of high-capacity, cost-effective IP-based services," said Ken Campbell, Chief Executive Officer of Globalive Wireless. "We look to the experience, expertise and forward-thinking technology of Alcatel-Lucent to support our commitment to building an advanced, high-speed mobile network that will support economic development and jobs creation throughout Canada."

Alcatel-Lucent is providing an end-to-end solution and comprehensive network integration support to ensure the rapid rollout of Globalive's commercial voice, mobile broadband and multimedia service offerings. Under the agreement Alcatel-Lucent will supply Globalive with its industry-leading, LTE-ready 3G radio access network offering -- based on its multi-standard radio access solution -- including radio network controllers, node Bs (base stations) and a flexible wireless network management system. For the project Alcatel-Lucent also will provide a variety of professional services including site acquisition and construction, radio frequency network design and optimization as well as overall network planning and design.

To address Globalive's mobile backhaul requirements, Alcatel-Lucent will deploy its IP service routers, service aggregation routers and microwave packet radios, which will support the highly reliable, secure and cost-effective transport of 3G traffic and will give Globalive the ability to smoothly transition to LTE to address evolving market demands.

"Alcatel-Lucent has a proven track record for delivering high-speed wireless networks in Canada and globally. Our new 3G mobile networking solutions provide the innovation, operational excellence and cost efficiency Globalive needs to quickly build out its network and offer Canadians innovative mobile services," said Alex Giosa, President of Alcatel-Lucent business in Canada. "This contract highlights Globalive's confidence in our comprehensive solutions and local support capabilities."

Giosa noted that the Globalive deployment will leverage technology developed at Alcatel-Lucent's Ottawa research facility, which employs a large team of experienced engineers and technologists working on advanced wireless and IP technologies.

Alcatel-Lucent is a leading player in the wireless infrastructure market having deployed 350 commercial wireless networks worldwide, including 56 W-CDMA commercial networks in 37 countries. With more than 600,000 multi-standard cabinets shipped since 1999, Alcatel-Lucent's pioneering multi-standard technology base station is designed to support IP transformation and is part of our unique converged radio access network (RAN) strategy that enables operators to smoothly evolve towards future mobile broadband technologies. The company is a world leader in the design, deployment, management and integration of networks.

About Globalive Wireless Management Corp.

Globalive Wireless is a subsidiary of Globalive Holdings. Globalive is a leading provider of telecommunications solutions in Canada and internationally to the consumer and business market segments. The Globalive companies include Globalive Wireless, Yak Communications, One Connect, Canopco and Globalive Carrier Services. For more information http://www.globalive.com/.

About Alcatel-Lucent

Alcatel-Lucent (Euronext Paris and NYSE: ALU) is the trusted partner of service providers, enterprises and governments worldwide, providing solutions to deliver voice, data and video communication services to end-users. A leader in fixed, mobile and converged broadband networking, IP technologies, applications and services, Alcatel-Lucent leverages the unrivalled technical and scientific expertise of Bell Labs, one of the largest innovation powerhouses in the communications industry. With operations in more than 130 countries and the most experienced global services organization in the industry, Alcatel-Lucent is a local partner with a global reach. Alcatel-Lucent achieved revenues of Euro 16.98 billion in 2008 and is incorporated in France, with executive offices located in Paris. For more information, visit Alcatel-Lucent on the Internet: http://www.alcatel-lucent.com/.

Alcatel-Lucent

CONTACT: Lisa Libin, +1-416-486-5907, Lisa.Libin@gcicanada.com, GCI
Group on behalf of Globalive Wireless; or Alcatel-Lucent Press Contacts:
Regine Coqueran, +33(0)1-40-76-49-24, regine.coqueran@alcatel-lucent.com, or
Mary Ward, +1-908-582-7658, maryward@alcatel-lucent.com, or Alcatel-Lucent
Investor Relations: Remi Thomas, +33(0)1-40-76-50-61,
remi.thomas@alcatel-lucent.com, or Tom Bevilacqua, +1-908-582-7998,
bevilacqua@alcatel-lucent.com, or Tony Lucido, +33(0)1-40-76-49-80,
alucido@alcatel-lucent.com, or Don Sweeney, +1-908-582-6153,
dsweeney@alcatel-lucent.com

Web Site: http://www.alcatel-lucent.com/

Madison County Residents To Benefit From Verizon Wireless Network Expansion-- Improves coverage and capacity in Lakeport area -- Provides access to high-speed wireless broadband service -- Part of $100+ million network investment in Upstate New York in 2009

SYRACUSE, N.Y., July 29 /PRNewswire/ -- In a continuing effort to provide the best wireless service for local residents in Madison County, Verizon Wireless has expanded its network with a new cell site in Lakeport. The new site improves coverage and capacity in Lakeport and along portions of Route 31 and Route 13.

This network expansion is part of the company's aggressive multi-billion dollar network investment each year to stay ahead of the growing demand for Verizon Wireless' voice and data services. The company has invested more than $50 billion since it was formed -- $5.5 billion on average every year.

"We've always believed even the most advanced device is only as good as the network it runs on," said Gene Fassett, executive director of Network for Verizon Wireless' Upstate New York Region. "We continue to aggressively invest in our Upstate New York network to increase coverage and capacity for our customers and to add new services."

Services include wireless data services such as picture messaging, text messaging, V CAST and V CAST Music with Rhapsody, ESPN MVP and MobileBroadband, the company's high-speed wireless broadband network geared toward mobile professionals and business customers. It provides average download speeds of 600 kilobits per second (kbps) to 1.4 megabits per second, and average upload speeds of 500-800 kbps.

Strong demand for Verizon Wireless' services continued during the second quarter of 2009 as the company added 1.1 million net new customers. Verizon Wireless, the wireless company with the highest customer loyalty, reported the lowest customer turnover (highest customer loyalty) rate in the industry -- 1.37 percent in the second quarter -- for the 19th consecutive quarter.

The company's "nation's most reliable wireless network" reputation is based on network studies performed by real-life test men and test women throughout the country. These engineers drive nearly 100 specially equipped vehicles more than 1 million miles annually on Interstate, U.S. and state highways, as well as major roads and surface streets. Test vehicles are equipped with computers that automatically make more than 3 million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.

For more information about Verizon Wireless products and services, visit a Verizon Wireless Communications Store, call 1-800-2 JOIN IN or go to http://www.verizonwireless.com/.

About Verizon Wireless

Verizon Wireless operates the nation's most reliable and largest wireless voice and data network, serving 87.7 million customers. Headquartered in Basking Ridge, N.J., with more than 87,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, visit http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

Verizon Wireless

CONTACT: John O'Malley of Verizon Wireless, +1-585-321-7264 or
+1-585-261-5899, John.OMalley@verizonwireless.com; or Meredith Dropkin,
+1-315-413-4293, mdropkin@mower.com, for Verizon Wireless

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

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

CACI Awarded Prime Contract on $94 Million Program to Support Homeland Security Infrastructure Protection InitiativesNew Work Provides Full Array of Program Management Expertise for Duty Desk and Watch Desk Activities and Operation Support Services

ARLINGTON, Va., July 29 /PRNewswire-FirstCall/ -- CACI International Inc announced today it has been awarded a prime, indefinite delivery/indefinite quantity contract with a ceiling value of $94 million along with an initial task order award of $14.2 million. CACI is one of two companies awarded the five-year (one base year with four one-year options) contract by the National Protection and Program Directorate (NPPD) of the Department of Homeland Security (DHS). The new work supports national infrastructure protection through duty desk, watch desk, and operation support services for the directorate. It expands CACI's presence in the DHS with wide-ranging mission support.

NPPD is charged with advancing the risk-reduction mission of the DHS with an integrated approach that provides timely and effective responses to both natural disasters and threats caused by human elements. With this award, CACI will provide highly experienced personnel, around-the-clock, to support the NPPD through management of duty desk and watch desk operations. The CACI team will enhance communications by managing, processing, and coordinating the flow of information across the DHS and with Protective Security Advisors (PSAs) in the field.

Under this first task order, CACI's support includes duty desk operations involving coordination with state and local groups throughout the nation. Future support may include watch desk responsibilities monitoring events ranging from natural disasters to possible terrorist incidents. Operation support services may encompass everything from generating reports and formulating briefing materials to the analysis of national training exercises for DHS, state, and local government personnel.

This program expands CACI's support of critical infrastructure protection which also includes the Automated Critical Asset Management System (ACAMS) program. ACAMS is a CACI-maintained solution established to increase and broaden information sharing between critical infrastructure owners and the federal government.

Bill Fairl, CACI's President of U.S. Operations, said, "CACI is very pleased that this award from the National Protection and Program Directorate of the DHS enables us to help the Department achieve increased efficiencies through the integrated support we provide. We understand all the tools needed to enhance situational awareness, and with the ACAMS program we're able to add a powerful new solution to the mix."

CACI President and CEO Paul Cofoni said, "Since we were selected as a prime on the Enterprise Acquisition Gateway for Leading Edge Solutions (EAGLE) program of the DHS in 2006, we have been at the forefront of providing the agency with information technology support services. Now this new work with the NPPD enables us to also deliver the mission support so vital to keeping our nation safe against both natural and man-made threats."

CACI International Inc provides the professional services and IT solutions needed to prevail in today's defense, intelligence, homeland security, and federal civilian government arenas. We deliver enterprise IT and network services; data, information, and knowledge management services; business system solutions; logistics and material readiness; C4ISR integration services; cyber security, information assurance, and information operations; integrated security and intelligence solutions; and program management and SETA support services. CACI services and solutions help our federal clients provide for national security, improve communications and collaboration, secure the integrity of information systems and networks, enhance data collection and analysis, and increase efficiency and mission effectiveness. We add value to our clients' operations, increase their skills and capabilities, and enhance their missions. CACI is a member of the Fortune 1000 Largest Companies and the Russell 2000 index. CACI provides dynamic careers for approximately 12,400 employees working in over 120 offices in the U.S. and Europe. CACI is the IT provider for a networked world. Visit CACI on the web at http://www.caci.com/ and http://www.asymmetricthreat.net/.

There are statements made herein which do not address historical facts, and therefore could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the following: regional and national economic conditions in the United States and the United Kingdom, including conditions that result from a prolonged recession; terrorist activities or war; changes in interest rates; currency fluctuations; significant fluctuations in the equity markets; failure to achieve contract awards in connection with recompetes for present business and/or competition for new business; the risks and uncertainties associated with client interest in and purchases of new products and/or services; continued funding of U.S. government or other public sector projects, based on a change in spending patterns, or in the event of a priority need for funds, such as homeland security, the war on terrorism; or rebuilding Iraq; or an economic stimulus package; government contract procurement (such as bid protest, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; the results of government investigations into allegations of improper actions related to the provision of services in support of U.S. military operations in Iraq; the results of government audit and reviews conducted by the Defense Contract Audit Agency or other governmental entities with cognizant oversight; individual business decisions of our clients; paradigm shifts in technology; competitive factors such as pricing pressures and/or competition to hire and retain employees (particularly those with security clearances); market speculation regarding our continued independence; material changes in laws or regulations applicable to our businesses, particularly in connection with (i) government contracts for services, (ii) outsourcing of activities that have been performed by the government, (iii) competition for task orders under Government Wide Acquisition Contracts ("GWACs") and/or schedule contracts with the General Services Administration; and (iv) accounting for convertible debt instruments; our own ability to achieve the objectives of near term or long range business plans; and other risks described in the company's Securities and Exchange Commission filings.

Corporate Communications and Media: Investor Relations: Jody Brown, David Dragics, Executive Vice President, Senior Vice President, Public Relations Investor Relations (703) 841-7801, jbrown@caci.com (866) 606-3471, ddragics@caci.com

CACI International Inc

CONTACT: Corporate Communications and Media, Jody Brown, Executive Vice
President, Public Relations, +1-703-841-7801, jbrown@caci.com, or Investor
Relations, David Dragics, Senior Vice President, Investor Relations,
+1-866-606-3471, ddragics@caci.com

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

Newport Corporation to Report Second Quarter Results on August 5

IRVINE, Calif., July 29 /PRNewswire-FirstCall/ -- Newport Corporation announced that it will release results for its second quarter ended July 4, 2009, on Wednesday, August 5, 2009. The company also said that Robert J. Phillippy, its President and Chief Executive Officer, and Charles F. Cargile, its Senior Vice President, Chief Financial Officer and Treasurer, will host an investor conference call that day at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to review the company's financial results and business outlook.

The call is open to all interested investors through a live audio broadcast via the Internet at http://www.newport.com/investors and http://www.earnings.com/. The call also will be available to investors and analysts by dialing 888-601-3862 within the U.S. and Canada or 913-312-0730 from abroad.

The webcast will be archived on both websites and can be reached through the same links. A telephonic playback of the conference call also will be available by calling 888-203-1112 within the U.S. and Canada and 719-457-0820 from abroad. Playback will be available beginning at 8:00 p.m. Eastern time on Wednesday, August 5, 2009, and continue through 8:00 p.m. Eastern time on Wednesday, August 12, 2009. The replay passcode is 1895541.

About Newport Corporation

Newport Corporation is a leading global supplier of advanced-technology products and systems to customers in the scientific research, microelectronics, aerospace and defense/security, life and health sciences, and precision industrial manufacturing markets. Newport's innovative solutions leverage its expertise in lasers, photonics instrumentation, sub-micron positioning systems, vibration isolation, optical components and subsystems, and precision automation to enhance the capabilities and productivity of its customers' manufacturing, engineering and research applications. Newport is part of the Standard & Poor's SmallCap 600 Index and the Russell 2000 Index.

Website: http://www.newport.com/

Newport Corporation

CONTACT: Charles F. Cargile, Senior Vice President, Chief Financial
Officer and Treasurer, Newport Corporation, +1-949-863-3144,
investor@newport.com; or Investor Relations, Dan Peoples, Makinson Cowell
(US), +1-858-552-8146

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

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News archive of November 2009
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