Companies news of 2009-09-22 (page 1)
Apartment Investment and Management Company to Present at Bank of America Merrill Lynch...
Freddie Mac Names Ross J. Kari Chief Financial Officer
Statement By Medis Technologies
comScore Releases August 2009 U.S. Search Engine Rankings
Fifth Third Names Daniel Poston Chief Financial OfficerRoss Kari to Assume Position with...
Lighting Science Previews Breakthrough Lighting Technology at the Clinton Global...
Seagate Updates Fiscal First Quarter 2010 Financial Outlook
AMB Property Corporation(R) Declares Quarterly Dividends
AGNC Declares $1.40 Third Quarter Dividend
Goodrich Petroleum Announces Convertible Notes Offering
AEP Announces Executive Leadership Changes
Sealy Corporation Announces Third Quarter 2009 Earnings Release Date and Conference Call
SXC Health Solutions to present at upcoming conferences
BioMarin Initiates Phase 2 Clinical Study of PEG-PAL in PKU
American Lorain Signs Contracts With Two Popular Chain Restaurants in China
Big 5 Sporting Goods Corporation to Present at the Thomas Weisel Consumer Conference
The McGraw-Hill Companies Named One of the Greenest Big Companies in America by Newsweek...
Inverness Medical Innovations, Inc. Announces Offering of $100 Million of Senior Notes
LIONSGATE(R) Scores Rights to Next Film From Academy Award(R) Winner Stephen GaghanStudio...
D&W Fresh Markets and Family Fare Supermarkets Introduce 'Nutrition Guide'Educational...
Ameris Bancorp Declares Stock Dividend
Diageo Awards Eighteen Chicago-Area Hospitality Hopefuls With $60,000 In...
Air Products and PetroChina Joint Venture to Build Air Separation Unit in ChinaPlant to...
SED International Holdings to Announce Fiscal 2009 Year-End Results on Friday, September...
CAPE Systems Announces Fiscal 2007, 2008, and 2009 Third Quarter Unaudited Results
WMECo Begins Procurement for Solar Energy FacilitiesVendor qualification under way for...
Majesco Entertainment Company Closes Its $9.6 Million Registered Direct Offering of Common...
Boeing and FedEx Express Celebrate Carrier's First 777 Freighter DeliveryNew twinjet...
Connectivity Becomes Major Contributor to Mobile Revenue Growth in Mexico, Finds Pyramid
Apartment Investment and Management Company to Present at Bank of America Merrill Lynch 2009 Global Real Estate Conference
DENVER, Sept. 22 /PRNewswire-FirstCall/ -- Apartment Investment and Management Company ("Aimco") announced today that David Robertson, Aimco's President, Chief Investment Officer and Chief Financial Officer, will participate in a panel presentation at the Bank of America Merrill Lynch 2009 Global Real Estate Conference to be held in New York. The panel presentation, "Beyond the U.S. Housing Crash," is scheduled for Thursday, October 1, 2009, at 10:45 a.m. Eastern time. Bank of America Merrill Lynch will provide a live webcast of the panel discussion which will be available at:
http://www.veracast.com/webcasts/bas/realestate09/id93204174.cfm
Aimco is a real estate investment trust headquartered in Denver, Colorado that owns and operates a geographically diversified portfolio of apartment communities. Aimco, through its subsidiaries and affiliates, is one of the largest owners and operators of apartment communities in the United States with 950 properties, including 154,511 apartment units, and serves approximately 500,000 residents each year. Aimco's properties are located in 44 states, the District of Columbia and Puerto Rico. Aimco common shares are traded on the New York Stock Exchange under the ticker symbol AIV and are included in the S&P 500. For more information about Aimco, please visit our website at http://www.aimco.com/.
Apartment Investment and Management Company
CONTACT: Investor Relations, +1-303-691-4350, Investor@aimco.com, or Elizabeth Coalson, Vice President - Investor Relations, +1-303-691-4327, both of Apartment Investment and Management Company
Web Site: http://www.aimco.com/
Freddie Mac Names Ross J. Kari Chief Financial Officer
MCLEAN, Va., Sept. 22 /PRNewswire-FirstCall/ -- Freddie Mac today announced that Ross J. Kari, a veteran finance executive, has been appointed chief financial officer effective October 12, 2009. In that position, he will be responsible for the company's financial controls, accounting, investor relations, financial planning and reporting, tax, capital oversight, and compliance with the requirements of Sarbanes-Oxley. Kari will be a member of the company's senior executive leadership team and report directly to Chief Executive Officer Charles E. Haldeman, Jr.
"I'm delighted to complete Freddie Mac's senior executive team by adding a CFO with an impressive background and broad experience in the mortgage business and financial services industry," Haldeman said. "Ross will be leading a proven group of finance executives who continue to strengthen our financial controls. When I came to Freddie Mac I said that building out our senior executive team was near the top of my agenda, and with a new CFO and COO both now on board, we've met that goal."
For the past year, Kari has been the chief financial officer of Fifth Third Bancorp in Cincinnati, Ohio. Before joining Fifth Third in 2008, Kari served as executive vice president and CFO of Safeco Corporation in Seattle where he managed a team of 250 financial professionals and helped grow business line revenue while enhancing essential risk management processes. From 2002 to 2006 Kari served as executive vice president and chief operating officer for another housing government-sponsored enterprise, the Federal Home Loan Bank of San Francisco. The bulk of Kari's career was spent at Wells Fargo from 1983 to 2001, during which time he rose from senior financial analyst to executive vice president and chief financial officer.
Kari received a Bachelor of Science degree in Mathematics and earned his MBA in Finance, graduating first in his class, both from the University of Oregon.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters. http://www.freddiemac.com/
Freddie Mac
CONTACT: Doug Duvall, Freddie Mac, +1-703-903-2476
Web Site: http://www.freddiemac.com/
Statement By Medis Technologies
NEW YORK, Sept. 22 /PRNewswire-FirstCall/ -- Medis Technologies Ltd. (Pink Sheets: MDTL), a developer and producer of fuel cells based on its proprietary sodium borohydride technologies, announced today, that as of Monday, September 21st, 2009, its Series B Preferred agreement with Volation Capital Partners has been terminated by its own terms. Medis does not plan to conduct any further business with Volation Capital Partners or its affiliates.
About Medis Technologies Ltd.
Medis Technologies Ltd. (MDTL: PK) (http://www.medistechnologies.com/), headquartered in New York, is the first company in the world to market a personal and portable liquid fuel cell capable of providing electrical power to the mobile electronics marketplace. The Medis fuel cell features a patented, proprietary fuel formulation that utilizes borohydride to generate electricity upon activation; it is safe, clean, silent, and recyclable. First generation products include the Medis 24-7 Power Pack; 24-7 Xtreme Portable Power Solution; and the Medis Fuel Cell Power Emergency Kit.
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases you can identify those so-called "forward looking statements" by words such as "may," "will," "should," "expects," "plans," "targets," "believes," "anticipates," "estimates," "predicts," "potential," or "continue" or the negative of those words and other comparable words. These forward looking statements are subject to risks and uncertainties, product tests, commercialization risks, availability of financing and results of financing efforts that could cause actual results to differ materially from historical results or those anticipated. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC. We assume no obligation to update or alter our forward-looking statements made in this release or in any periodic report filed by us under the Securities Exchange Act of 1934 or any other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.
CONTACT:
Omer Masud
Medis Technologies
omerm@medistechnologies.com
+1-212-935-8484
Brian Kennedy (Media)
Allen & Caron
+1-212-691-8087
brian@allencaron.com
Medis Technologies Ltd.
CONTACT: Omer Masud, Medis Technologies, omerm@medistechnologies.com, +1-212-935-8484, or Brian Kennedy (Media), Allen & Caron, +1-212-691-8087, brian@allencaron.com
Web Site: http://www.medistechnologies.com/
comScore Releases August 2009 U.S. Search Engine Rankings
RESTON, Va., Sept. 22 /PRNewswire-FirstCall/ -- comScore, Inc. , a leader in measuring the digital world, today released its monthly comScore qSearch analysis of the U.S. search marketplace. In August 2009, Americans conducted more than 13.9 billion core searches, with Google Sites accounting for 64.6 percent search market share. Microsoft Sites grabbed 9.3 percent market share, a 0.4-percentage point gain versus July.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO)
August 2009 U.S. Core Search Rankings
Google Sites led the U.S. core search market in August with 64.6 percent of the searches conducted, followed by Yahoo! Sites (19.3 percent), and Microsoft Sites (9.3 percent). Ask Network captured 3.9 percent of the search market, followed by AOL LLC with 3.0 percent.
comScore Core Search Report*
August 2009 vs. July 2009
Total U.S. - Home/Work/University Locations
Source: comScore qSearch
--------------------------------------------
Share of Searches (%)
--------------------
Point Change
Aug-09 vs.
Core Search Entity Jul-09 Aug-09 Jul-09
------------------ ------ ------ ------
Total Core Search 100.0% 100.0% N/A
----------------- ----- ----- ----
Google Sites 64.7% 64.6% -0.1
------------ ---- ---- ----
Yahoo! Sites 19.3% 19.3% 0.0
------------ ---- ---- ---
Microsoft Sites 8.9% 9.3% 0.4
--------------- --- --- ---
Ask Network 3.9% 3.9% 0.0
----------- --- --- ---
AOL LLC Network 3.1% 3.0% -0.1
--------------- --- --- ----
* Based on the five major search engines including partner searches and
cross-channel searches. Searches for mapping, local directory, and
user-generated video sites that are not on the core domain of the five
search engines are not included in the core search numbers.
Americans conducted 13.9 billion searches in August, up 3 percent from July. Google Sites accounted for 9 billion searches, followed by Yahoo! Sites (2.7 billion), Microsoft Sites (1.3 billion), Ask Network (541 million) and AOL LLC (415 million).
comScore Core Search Report*
August 2009 vs. July 2009
Total U.S. - Home/Work/University Locations
Source: comScore qSearch
-------------------------------------------
Search Queries (MM)
-------------------
Percent Change
Aug-09 vs.
Core Search Entity Jul-09 Aug-09 Jul-09
------------------ ------ ------ -----
Total Core Search 13,575 13,924 3%
----------------- ------ ------ ---
Google Sites 8,783 8,994 2%
------------ ----- ----- ---
Yahoo! Sites 2,625 2,685 2%
------------ ----- ----- ---
Microsoft Sites 1,208 1,288 7%
--------------- ----- ----- ---
Ask Network 536 541 1%
----------- --- --- ---
AOL LLC 424 415 -2%
------- --- --- ---
* Based on the five major search engines including partner searches and
cross-channel searches. Searches for mapping, local directory, and
user-generated video sites that are not on the core domain of the five
search engines are not included in the core search numbers.
August 2009 U.S. Expanded Search Rankings
In the August 2009 analysis of the top properties where search activity is observed, Google Sites led the search market with 13 billion search queries, followed by Yahoo! Sites with 2.8 billion queries. Microsoft Sites ranked third with more than 1.3 billion searches, up 6 percent from July, followed by craigslist, inc. with 682 million searches. Facebook.com experienced the largest growth of the top ten expanded search properties with a 20-percent increase in query volume to 324 million searches.
comScore Expanded Search Query Report
August 2009 vs. July 2009
Total U.S. - Home/Work/University Locations
Source: comScore qSearch
-------------------------------------------
Search Queries (MM)
-------------------
Percent Change
Aug-09
vs.
Expanded Search Entity Jul-09 Aug-09 Jul-09
---------------------- ------ ------ -------
Total Internet 21,558 21,801 1%
-------------- ------ ------ ---
Google Sites 12,851 13,006 1%
------------ ------ ------ ---
Google 9,217 9,437 2%
------ ----- ----- ---
YouTube/All Other 3,634 3,569 -2%
----------------- ----- ----- ---
Yahoo! Sites 2,762 2,800 1%
------------ ----- ----- ---
Yahoo! 2,738 2,776 1%
------ ----- ----- ---
All Other 24 24 0%
--------- --- --- ---
Microsoft Sites 1,262 1,343 6%
--------------- ----- ----- ---
Bing 1,076 1,151 7%
---- ----- ----- ---
Microsoft/All Other 186 192 3%
------------------- --- --- ---
craigslist, inc. 673 682 1%
---------------- --- --- ---
AOL LLC 697 673 -3%
------- --- --- ---
AOL Search Network 362 354 -2%
------------------ --- --- ---
MapQuest/All Other 335 319 -5%
------------------ --- --- ---
eBay 709 650 -8%
---- --- --- ---
Ask Network 613 646 5%
----------- --- --- ---
ASK.COM 338 343 1%
------- --- --- ---
MyWebSearch.com/ All Other 275 303 10%
-------------------------- --- --- ---
Fox Interactive Media 603 569 -6%
--------------------- --- --- ---
MySpace Sites 596 562 -6%
------------- --- --- ---
All Other 7 7 0%
--------- --- --- ---
Facebook.com 270 324 20%
------------ --- --- ---
Amazon Sites 197 216 10%
------------ --- --- ---
About comScore
comScore, Inc. is a global leader in measuring the digital world and preferred source of digital marketing intelligence. For more information, please visit http://www.comscore.com/companyinfo.
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comScore, Inc.
CONTACT: Andrew Lipsman of comScore, Inc., +1-312-775-6510, press@comscore.com
Web Site: http://www.comscore.com/
Fifth Third Names Daniel Poston Chief Financial OfficerRoss Kari to Assume Position with Freddie Mac
CINCINNATI, Sept. 22 /PRNewswire-FirstCall/ -- Kevin T. Kabat, chairman, president and CEO of Fifth Third Bancorp today announced the appointment of Executive Vice President Daniel T. Poston as Chief Financial Officer, effective immediately. Poston replaces Ross J. Kari, who is leaving the Bank to take the position of Chief Financial Officer with Freddie Mac.
Poston, who currently serves as the Bank's Controller, served as interim CFO from May 2008 through November 2008 and was instrumental in the development of the Bank's June 2008 capital plan, which has since been successfully implemented, and management of the Bank's financial position through the fall of 2008. He began his career at Fifth Third Bank in 2001 as director of Internal Audit and member of the Bank's Enterprise Committee.
"Dan's experience and leadership have been crucial to Fifth Third. He served as chief financial officer for us during an exceptionally challenging time last year, and I have every confidence that under his direction, we will deliver the strong performance we expect from Fifth Third," said Kabat.
Speaking about Kari's departure, Kabat said, "During his time here, Ross provided sound financial leadership and direction. And while we will miss him, I fully understand his desire to be involved in shaping the future of home mortgage financing in this country. We wish him every success as we will all benefit from it."
"I'm pleased that I was able to make a contribution to Fifth Third during this unprecedented time in the banking industry," said Kari. "Fifth Third has a strong group of management and finance professionals, who with Dan will continue to move the Bank forward and position it as an industry leader in the future."
Mark Hazel, Fifth Third's assistant Controller, will serve as interim Controller.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $116 billion in assets, operates 16 affiliates with 1,306 full-service Banking Centers, including 100 Bank Mart locations open seven days a week inside select grocery stores and 2,364 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2009, has $180 billion in assets under care, of which it manages $24 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at http://www.53.com/. Fifth Third's common stock is traded on the NASDAQ National Global Select Market under the symbol "FITB."
Fifth Third Bancorp
CONTACT: Debra DeCourcy, APR (Media), +1-513-534-4153, Jim Eglseder (Investors), +1-513-534-8424, Rich Rosen (Investors), +1-513-534-3307, all of Fifth Third Bancorp
Web Site: http://www.53.com/
Lighting Science Previews Breakthrough Lighting Technology at the Clinton Global Initiative in New York CityNext Generation LED Lamp Line to Substantially Increase Light Output At Half the Price of Current LED Lamp Line
NEW YORK, Sept. 22 /PRNewswire-FirstCall/ -- Lighting Science Group Corporation (LSG) (Pink Sheets: LSCG), a global leader in LED lighting products, will preview tomorrow its next generation line of LED retrofit lamps that will be available in the fourth quarter of this year. The new line of lamps will have substantially increased light output compared to LSG's current line but will be available at about half the cost. LSG's new line of LED retrofit lamps has the potential to dramatically expand the market for LED lighting technology.
"Until today, the use of LED based lamps was limited to applications where operational costs and energy rates were high enough to justify the expense of changing to LED lamps," said Zach Gibler, Chief Executive Officer of LSG. "Now, Lighting Science is preparing to make energy efficient LED lighting available for a wider range of applications by delivering unrivaled performance for the price. Our new line of LED retrofit lamps will use approximately 80% less energy than the traditional lighting technology lamps they replace. In most applications, Lighting Science's new line of LED retrofit lamps should pay for themselves in well under one year based on energy savings alone. This rapid payback coupled with the exceptionally long life of LEDs will provide significant financial returns for customers and should result in strong market growth for these products."
The new LSG LED retrofit lamp line includes the following lamp types:
-- MR16, GU5.3 and GU10 -- A small reflector lamp for use in residential
and commercial track and downlight fixtures. Ideal in high end
retail, museum, hospitality, restaurant, and home applications.
Dimmable, available in spot and flood beam spreads. Consumes 5 to 7
watts and lasts about 30,000 hours. Replaces 20-35W halogen MR16
lamps.
-- A19 -- The standard and well known light bulb shape for use in
standard lighting fixtures, mostly commonly table lamps. Ideal in
home, office and hospitality applications. Dimmable, standard beam
spread. Consumes 6 to 8 watts and lasts about 50,000 hours. Replaces
40W incandescent lamps.
-- PAR20 -- A reflector lamp for use in residential track and downlight
fixtures. Ideal in retail, hospitality, restaurant, office and home
applications. Dimmable, available in spot and flood beam spreads.
Consumes 5 to 7 watts and lasts about 50,000 hours. Replaces 35-50W
halogen and incandescent lamps.
-- PAR30 -- A reflector lamp for use in residential track and downlight
fixtures. Ideal in retail, hospitality, restaurant, office and home
applications. Dimmable, available in spot and flood beam spreads.
Consumes approximately 13 watts and lasts about 50,000 hours.
Replaces 60W halogen and incandescent lamps.
-- PAR38 -- A reflector lamp for use in residential track and downlight
fixtures. Ideal in retail, hospitality, restaurant, office and home
applications. Dimmable, available in spot and flood beam spreads.
Consumes approximately 18 watts and lasts about 50,000 hours.
Replaces a 75W halogen and incandescent lamps.
The new line of Lighting Science LED retrofit lamps will offer a warm and pleasing light color, meet or exceed Energy Star energy efficiency standards, and be UL certified. Operating samples of the new Lighting Science retrofit lamps will be shown and demonstrated at the Clinton Global Initiative.
"Lighting Science is proud to introduce its next generation of LED replacement lamps to the attendees at this year's Clinton Global Initiative. It is an ideal platform to showcase an environmentally responsible and sustainable alternative that makes economic sense," said Mr. Gibler. "We are very excited about the opportunity to be able to make a meaningful contribution to the global energy challenge."
Replacing just one 60W halogen lamp in each U.S. household with a current Lighting Science SoL R30 13W LED lamp would reduce energy consumption by 9.6 billion KWH, which is equivalent to:
-- Eliminating CO2 emissions from the electricity use of 956,901 homes
for one year.
-- Greenhouse gas emissions avoided by recycling 2,379,054 tons of waste
instead of sending it to landfills.
-- Carbon sequestered annually by 176,903,984 tree seedlings grown for 10
years.
Source: U.S. EPA Greenhouse Gas Equivalencies Calculator, http://www.epa.gov/cleanenergy/energy-resources/calculator.html. Sept 2009.
About Lighting Science
Lighting Science Group Corporation designs, develops, manufactures and markets LED lighting solutions that are environmentally friendlier and more energy efficient than traditional lighting products. LSG offers retrofit LED lamps in form factors that match the form factor of traditional lamps or bulbs and LED luminaires for a range of applications including public and private infrastructure for both indoor and outdoor applications. LSG's Custom Solutions business unit designs, develops and manufactures custom LED lighting solutions for architectural and artistic projects. LSG is headquartered in Satellite Beach, Florida; LSG's Custom Solutions business unit is based in Rancho Cordova, California; LSG's European operations are based in Goes, The Netherlands; and, LSG has sales offices in Tokyo, Japan, Buckinghamshire, England and Sydney, Australia. More information about LSG is available at http://www.lsgc.com/.
Forward Looking Statements
Certain statements in this press release may constitute "forward-looking statements" made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The statements include, but are not limited to statements regarding our expectations concerning management and our ability to expand and develop our business and statements using terminology such as "breakthrough," "advance," "success," "will," "should," "intensified," "expected," "revived," "would," "could," "expect," "intend," "plan," "anticipate," "believe," "potential," "opportunity," "greater," "preparing," or "extensive." Such statements reflect the current view of LSG with respect to future events and are subject to certain risks, uncertainties and assumptions. Known and unknown risks, uncertainties and other factors could cause actual results to differ materially from those contemplated by the statements. In evaluating these statements, you should specifically consider various factors that may cause our actual results to differ materially from any forward-looking statements. Readers should carefully review the risk factors detailed under "Risk Factors" in our Form 10-K's, Form 10-Q's and other Securities and Exchange Commission filings. These filings can be obtained by contacting LSG's Contact.
Lighting Science Group Corporation
CONTACT: Media, Jon Di Gesu, +1-603-770-5731, jon.digesu@lsgc.com; or Investors, Steve Hamilton, +1-214-382-3650, steve.hamilton@lsgc.com
Web Site: http://www.lsgc.com/
Seagate Updates Fiscal First Quarter 2010 Financial Outlook
SCOTTS VALLEY, Calif., Sept. 22 /PRNewswire-FirstCall/ -- Seagate Technology today announced an update to its expected financial results for its first fiscal quarter of 2010, which ends October 3, 2009.
Overall industry demand for hard disk drives continues to strengthen. As a result, the total available market (TAM) for the September quarter is anticipated to be greater than the 135-140 million units originally expected while the TAM for the December quarter is now projected to be 145-155 million units.
For its first fiscal quarter, Seagate now expects revenue to be at or slightly above the high end of its original guidance of $2.4-$2.6 billion. In the event OEM demand is stronger than we anticipate during the last two weeks of the quarter, as occurred last quarter, revenue for the first fiscal quarter could be greater than our revised guidance. As a result of our rapid transition to market leading notebook and desktop products, as well as improving factory efficiencies and utilization, gross margin as a percent of revenue is now expected to be approximately 23-24%.
Seagate believes disk drive inventory in all channels continues to be at appropriate levels, with supply in balance with demand.
The demand and pricing environment during the remaining weeks of the quarter will be key factors in determining the operating results for the first fiscal quarter of 2010.
About Seagate
Seagate is the worldwide leader in hard disk drives and storage solutions. Learn more at seagate.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements related to the Company's expected results for the September 2009 quarter and its future operating and financial performance in the December 2009 quarter, and thereafter, and include statements regarding expected revenue, gross margin, inventory levels, product competition, customer demand for disk drives, product transitions, and general market conditions. These forward-looking statements are based on information available to Seagate as of the date of this press release. Current expectations, forecasts and assumptions involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those anticipated by these forward-looking statements. Such risks, uncertainties, and other factors may be beyond the Company's control. In particular, global economic conditions continues to pose a risk to the Company's operating and financial performance as consumers and businesses have, and may continue to, defer purchases in response to tighter credit and negative financial news. Such risks and uncertainties also include the impact of the variable demand and the aggressive pricing environment for disk drives, particularly in view of current business and economic conditions; dependence on Seagate's ability to successfully qualify, manufacture and sell its disk drive products in increasing volumes on a cost-effective basis and with acceptable quality, particularly the new disk drive products with lower cost structures; the impact of competitive product announcements and possible excess industry supply with respect to particular disk drive products; and our ability to achieve projected cost savings in connection with our anticipated and announced restructuring plans. Information concerning risks, uncertainties and other factors that could cause results to differ materially from those projected in the forward-looking statements is contained in the Company's Annual Report on Form 10-K as filed with the U.S. Securities and Exchange Commission on August 19, 2009, which statements are incorporated into this press release by reference. These forward-looking statements should not be relied upon as representing the Company's views as of any subsequent date and Seagate undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made.
Seagate
CONTACT: Media Relations, Brian Ziel, +1-831-439-5429, brian.ziel@seagate.com, or Investor Relations, Rod Cooper, +1-831-439-2371, rod.j.cooper@seagate.com, both of Seagate
Web Site: http://www.seagate.com/
AMB Property Corporation(R) Declares Quarterly Dividends
SAN FRANCISCO, Sept. 22 /PRNewswire-FirstCall/ -- The Board of Directors of AMB Property Corporation declared a regular cash dividend for the quarter ending September 30, 2009 of $0.28 per common share. The dividend will be payable on October 15, 2009 to common stockholders of record at the close of business on October 5, 2009.
The Board also declared a dividend of $0.40625 per share on the company's 6.5% Series L Cumulative Redeemable Preferred Stock for the period commencing on and including July 15, 2009 and ending on and including October 14, 2009. The dividend will be payable on October 15, 2009 to Series L stockholders of record at the close of business on October 5, 2009.
The Board further declared a dividend of $0.421875 per share on the company's 6.75% Series M Cumulative Redeemable Preferred Stock for the period commencing on and including July 15, 2009 and ending on and including October 14, 2009. The dividend will be payable on October 15, 2009 to Series M stockholders of record at the close of business on October 5, 2009.
The Board further declared a dividend of $0.4375 per share on the company's 7.0% Series O Cumulative Redeemable Preferred Stock for the period commencing on and including July 15, 2009 and ending on and including October 14, 2009. The dividend will be payable on October 15, 2009 to Series O stockholders of record at the close of business on October 5, 2009.
The Board further declared a dividend of $0.428125 per share on the company's 6.85% Series P Cumulative Redeemable Preferred Stock for the period commencing on and including July 15, 2009 and ending on and including October 14, 2009. The dividend will be payable on October 15, 2009 to Series P stockholders of record at the close of business on October 5, 2009.
AMB Property Corporation. Local partner to global trade.(TM)
AMB Property Corporation is a leading owner, operator and developer of industrial real estate, focused on major hub and gateway distribution markets in the Americas, Europe and Asia. As of June 30, 2009, AMB owned, or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 156.9 million square feet (14.6 million square meters) in 48 markets within 14 countries. AMB invests in properties located predominantly in the infill submarkets of its targeted markets. The company's portfolio is comprised of High Throughput Distribution facilities--industrial properties built for speed and located near airports, seaports and ground transportation systems.
AMB's press releases are available on the company website at http://www.amb.com/ or by contacting the Investor Relations department at +1 415 394 9000.
Some of the information included in this press release contains forward-looking statements, such as the payment of dividends, which are made pursuant to the safe-harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from those in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future events. The events or circumstances reflected in forward-looking statements might not occur. You can identify forward-looking statements by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "pro forma," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases. You can also identify forward-looking statements by discussions of strategy, plans or intentions. Forward-looking statements are necessarily dependent on assumptions, data or methods that may be incorrect or imprecise and we may not be able to realize them. We caution you not to place undue reliance on forward-looking statements, which reflect our analysis only and speak only as of the date of this report or the dates indicated in the statements. We assume no obligation to update or supplement forward-looking statements. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: defaults on or non-renewal of leases by tenants or renewal at lower than expected rent or failure to lease at all or on expected terms, decreases in real estate values and impairment losses, our failure to obtain, renew or extend financing or re-financing, risks related to debt and equity security financings (including dilution risk), our failure to divest properties we have contracted to sell or to timely reinvest proceeds from any divestitures, failure to maintain our current credit agency ratings or comply with our debt covenants, international currency and hedging risks, financial market fluctuations, changes in general economic conditions, global trade or in the real estate sector, inflation risks, a downturn in the U.S., California or global economy, increased interest rates and operating costs or greater than expected capital expenditures, risks related to suspending, reducing or changing our dividends, our failure to contribute properties to our co-investment ventures, risks related to our obligations in the event of certain defaults under co-investment ventures and other debt, difficulties in identifying properties to acquire and in effecting acquisitions, our failure to successfully integrate acquired properties and operations, risks and uncertainties affecting property development, value-added conversions, redevelopment and construction (including construction delays, cost overruns, our inability to obtain necessary permits and public opposition to these activities), our failure to qualify and maintain our status as a real estate investment trust, risks related to our tax structuring, environmental uncertainties, risks related to natural disasters, changes in real estate and zoning laws, risks related to doing business internationally and global expansion, risks of opening offices globally, risks of changing personnel and roles, losses in excess of our insurance coverage, unknown liabilities acquired in connection with acquired properties or otherwise and increases in real property tax rates. Our success also depends upon economic trends generally, including interest rates, income tax laws, governmental regulation, legislation, population changes and certain other matters discussed under the heading "Risk Factors" and elsewhere in our annual report on Form 10-K for the year ended December 31, 2008.
AMB Property Corporation
CONTACT: Tracy A. Ward, Vice President, IR & Corporate Communications, +1-415-733-9565, tward@amb.com, or Rachel E. M. Bennett, Director, Media and Public Relations, +1-415-733-9532, rbennett@amb.com, both of AMB Property Corporation
Web Site: http://www.amb.com/
AGNC Declares $1.40 Third Quarter Dividend
BETHESDA, Md., Sept. 22 /PRNewswire-FirstCall/ -- American Capital Agency Corp. announced today that its Board of Directors has declared a cash dividend of $1.40 per share for the third quarter 2009. The dividend is payable on October 27, 2009 to common shareholders of record as of October 2, 2009, with an ex-dividend date of September 30, 2009.
ABOUT AGNC
AGNC is a REIT that invests exclusively in agency pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a U.S. Government agency or a U.S. Government-sponsored entity. The Company is externally managed and advised by an affiliate of American Capital Ltd. ("American Capital"). For further information, please refer to http://www.agnc.com/.
ABOUT AMERICAN CAPITAL
American Capital is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. Founded in 1986, American Capital has $11 billion(1) in capital resources under management and ten offices in the U.S., Europe and Asia. For further information, please refer to http://www.americancapital.com/.
(1) As of June 30, 2009.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. Forward-looking statements are based on estimates, projections, beliefs and assumptions of management of the Company at the time of such statements and are not guarantees of future performance. Forward-looking statements involve risks and uncertainties in predicting future results and conditions. Actual results could differ materially from those projected in these forward-looking statements due to a variety of factors, including, without limitation, changes in interest rates, changes in the yield curve, changes in prepayment rates, the availability and terms of financing, changes in the market value of our assets, general economic conditions, market conditions, conditions in the market for agency securities, and legislative and regulatory changes that could adversely affect the business of the Company. Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements, are included in the Company's periodic reports filed with the Securities and Exchange Commission ("SEC"). Copies are available on the SEC's website, http://www.sec.gov/ . The Company disclaims any obligation to update or revise any forward-looking statements based on the occurrence of future events, the receipt or new information, or otherwise.
CONTACT:
Investors - (301) 968-9300
American Capital Agency Corp.
CONTACT: Investors, American Capital Agency Corp., +1-301-968-9300
Web Site: http://www.agnc.com/
Goodrich Petroleum Announces Convertible Notes Offering
HOUSTON, Sept. 22 /PRNewswire-FirstCall/ -- Goodrich Petroleum Corporation ("the Company") today announced that it has commenced an underwritten public offering, subject to market and other conditions, of $150 million aggregate principal amount of convertible senior notes. The underwriters for the offering will also have the option to purchase up to $22.5 million principal amount of additional notes solely to cover any over-allotments.
The Company intends to use a portion of the net proceeds from the offering to repay its $75 million second lien term loan and all amounts outstanding under its senior credit facility, with the remainder to be used for general corporate purposes. If the underwriters exercise their over-allotment option to purchase additional notes, the Company will use the proceeds from such sale of additional notes for general corporate purposes.
J.P. Morgan Securities Inc. is acting as sole book-running manager for the offering.
The offering will be made only by means of a prospectus, forming a part of the Company's shelf registration statement, related prospectus supplement and other related documents. You may obtain these documents for free by visiting EDGAR on the Securities and Exchange Commission website at http://www.sec.gov/. Alternatively, copies may be obtained from J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus Library. Before you invest, you should read the prospectus supplement and accompanying base prospectus along with other documents that the Company has filed with the Securities and Exchange Commission for more complete information about the Company and this offering.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy the notes or any other securities, nor will there be any sale of notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Certain statements in this news release regarding future expectations and plans for future activities may be regarded as 'forward-looking statements' within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. They are subject to various risks, such as financial market conditions, planned capital expenditures, the market prices of oil and gas, operating hazards, drilling risks, legislative and regulatory changes, and the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas, as well as other risks discussed in detail in the preliminary prospectus supplement, the Company's Annual Report on Form 10-K for the year ended December 31, 2008, Quarterly Report on Form 10-Q for quarter ended June 30, 2009 and those set forth from time to time in the Company's filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Except as required by law, the Company expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.
Goodrich Petroleum Corporation is an independent oil and gas company engaged in the exploration, exploitation, development and production of oil and natural gas properties primarily in East Texas and Northwest Louisiana.
Goodrich Petroleum Corporation
CONTACT: Robert C. Turnham, Jr., President, or David R. Looney, Chief Financial Officer, both of Goodrich Petroleum Corporation, +1-713-780-9494, fax, +1-713-780-9254
Web Site: http://www.goodrichpetroleum.com/
AEP Announces Executive Leadership Changes
COLUMBUS, Ohio, Sept. 22 /PRNewswire-FirstCall/ -- American Electric Power has made the following executive leadership changes, effective Oct. 1.
Brian X. Tierney, 42, has been named executive vice president and chief financial officer. Tierney previously served as executive vice president - AEP Utilities East, responsible for the distribution, customer service, and financial performance of AEP's utility operating companies in the states of Indiana, Kentucky, Michigan, Ohio, Tennessee, Virginia, and West Virginia.
Venita McCellon-Allen, 49, will replace Tierney as executive vice president - AEP Utilities East. She previously served as executive vice president - AEP Utilities West, responsible for distribution and customer service operations in the states of Arkansas, Louisiana, Oklahoma and Texas.
Charles Patton, 50, will replace McCellon-Allen as executive vice president - AEP Utilities West. He previously served as senior vice president - Regulatory & Public Policy.
"The changes announced today provide an opportunity for members of our senior executive team to broaden their experience and responsibilities, which serves as an important component of our executive succession planning," said Michael G. Morris, AEP's chairman, president and chief executive officer.
"Brian has gained important experience in utility operations while heading our eastern utilities, but he also has extensive financial experience from his years in our successful Commercial Operations group," Morris said. "This background makes him well-suited to assume the role of chief financial officer and the important responsibilities that accompany the position.
"Venita has a strong utility background with our western operations, so the move to head our eastern operations is an opportunity for her to broaden her experience," Morris said. "Charles was president of AEP Texas before moving to his regulatory and policy position. This promotion increases his areas of responsibility."
Tierney replaces Holly Koeppel, who served as AEP's chief financial officer since Sept. 1, 2006. Koeppel will continue with AEP as an executive vice president through the fourth quarter for financial reporting continuity and to assist Tierney during the transition.
"Holly guided the company with steady hands through very difficult financial times, ensuring our financial stability when credit markets collapsed and the economy weakened," Morris said. "She was the driving force behind our extraordinarily successful equity offering earlier this year that positioned us to benefit as the economy rebounds. She has been a tremendous asset for AEP, and I know she will have continued success with her next career move."
Changes announced today, along with earlier changes that positioned Robert P. Powers as president - AEP Utilities and Nicholas Akins as executive vice president - Generation, provide AEP with a talented executive pool to be considered in succession planning, Morris said. Morris has indicated that he will retire in November 2011.
Tierney has served as executive vice president - AEP Utilities East since Jan. 1, 2008. He was previously senior vice president of Commercial Operations, where he was responsible for AEP's energy trading and marketing activities, as well as market operations and dispatch of the company's 38,000-megawatt generation fleet. Tierney joined AEP in 1998 and has held a number of management positions with responsibilities for pricing energy transactions, market operations, and trading and marketing. Prior to joining AEP, Tierney worked for a subsidiary of Enron Corp., where he was an electricity trader, traded coal and priced energy transactions. Before entering the energy industry, Tierney served as a United States Peace Corps Volunteer in the Republic of the Philippines and worked in the consumer products industry. Tierney has a Bachelor of Arts degree in history from Boston College and a Master's of Business Administration with concentrations in finance and accounting from the University of Chicago.
McCellon-Allen served as executive vice president - AEP Utilities West since July 1, 2008. She was previously president and chief operating officer of Southwestern Electric Power Co. From 2004 to 2006, she was senior vice president - Shared Services, responsible for human resources, information technology and telecommunications, procurement and supply chain services, corporate services and enterprise security. Prior to that, she was senior vice president for human resources for Baylor Health Care System in Dallas. A 17-year veteran of Central and South West Corp. (CSW), McCellon-Allen held leadership roles at CSW in operations, customer service, strategic planning and human resources. McCellon-Allen earned a bachelor's degree in journalism from Texas A&M University. She also is a graduate of the University of Chicago's Executive Development Program and the Young Managers Program at the University of Virginia's Darden School of Business.
Patton served as senior vice president - Regulatory and Public Policy since July 1, 2008. From 2004 to 2008, Patton was president and chief operating officer for AEP Texas. Prior to this, he was state president - Texas. From 2002 to 2004, Patton was vice president of governmental affairs. He joined CSW in 1995 to become director of state government affairs for the CSW system. Prior to joining CSW, Patton spent nearly 11 years in the energy and telecommunications business with Houston Industries/Houston Lighting & Power. Patton received a bachelor's degree from Bowdoin College in Brunswick, Maine, and a master's degree from the LBJ School of Public Policy at the University of Texas in Austin. He completed, with honors, special undergraduate programs relating to urban planning and government at Boston University, Harvard University and American University.
American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation's largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation's largest electricity transmission system, a nearly 39,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP's transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio.
This report made by American Electric Power and its Registrant Subsidiaries contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although AEP and each of its Registrant Subsidiaries believe that their expectations are based on reasonable assumptions, any such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are: electric load and customer growth; weather conditions, including storms; available sources and costs of, and transportation for, fuels and the creditworthiness and performance of fuel suppliers and transporters; availability of generating capacity and the performance of AEP's generating plants; AEP's ability to recover regulatory assets and stranded costs in connection with deregulation; AEP's ability to recover increases in fuel and other energy costs through regulated or competitive electric rates; AEP's ability to build or acquire generating capacity (including the ability to obtain any necessary regulatory approvals and permits) when needed at acceptable prices and terms and to recover those costs (including the costs of projects that are canceled) through applicable rate cases or competitive rates; new legislation, litigation and government regulation, including requirements for reduced emissions of sulfur, nitrogen, mercury, carbon, soot or particulate matter and other substances; timing and resolution of pending and future rate cases, negotiations and other regulatory decisions (including rate or other recovery of new investments in generation, distribution and transmission service and environmental compliance); resolution of litigation (including disputes arising from the bankruptcy of Enron Corp. and related matters); AEP's ability to constrain operation and maintenance costs; the economic climate and growth or contraction in AEP's service territory and changes in market demand and demographic patterns; inflationary and interest rate trends; volatility in the financial markets, particularly developments affecting the availability of capital on reasonable terms and developments impacting AEP's ability to refinance existing debt at attractive rates; AEP's ability to develop and execute a strategy based on a view regarding prices of electricity, natural gas and other energy-related commodities; changes in the creditworthiness of the counterparties with whom AEP has contractual arrangements, including participants in the energy trading markets; actions of rating agencies, including changes in the ratings of debt; volatility and changes in markets for electricity, natural gas, coal, nuclear fuel and other energy-related commodities; changes in utility regulation, including the implementation of the recently passed utility law in Ohio and the allocation of costs within regional transmission organizations; accounting pronouncements periodically issued by accounting standard-setting bodies; the impact of volatility in the capital markets on the value of the investments held by AEP's pension, other postretirement benefit plans and nuclear decommissioning trust and the impact on future funding requirements; prices for power that AEP generates and sells at wholesale; changes in technology, particularly with respect to new, developing or alternative sources of generation; and other risks and unforeseen events, including wars, the effects of terrorism (including increased security costs), embargoes and other catastrophic events.
American Electric Power
CONTACT: MEDIA, Pat D. Hemlepp, Director, Corporate Media Relations, +1-614-716-1620, or ANALYSTS, Bette Jo Rozsa, Managing Director, Investor Relations, +1-614-716-2840
Web Site: http://www.aep.com/
Sealy Corporation Announces Third Quarter 2009 Earnings Release Date and Conference Call
TRINITY, N.C., Sept. 22 /PRNewswire-FirstCall/ -- Sealy Corporation , the largest bedding manufacturer in the world, today announced that the Company will release its fiscal third quarter 2009 results after the market close on Tuesday, September 29th, 2009, to be followed by a conference call at 5:00 p.m. (Eastern Time).
The call can be accessed live over the phone by dialing 1-877-941-2068, or for international callers, 1-480-629-9712. A replay will be available one hour after the call and can be accessed by dialing 1-800-406-7325 or for international callers, 1-303-590-3030. The passcode for the replay is 4157344. The replay will be available until October 6, 2009.
Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Company's website at http://www.sealy.com/. The on-line replay will be available for a limited time beginning immediately following the call.
About Sealy
Sealy is the largest bedding manufacturer in the world with sales of $1.5 billion in fiscal 2008. The Company manufactures and markets a broad range of mattresses and foundations under the Sealy(R), Sealy Posturepedic(R), including SpringFree(TM), PurEmbrace(TM) and TrueForm(R); Stearns & Foster(R), and Bassett(R) brands. Sealy operates 25 plants in North America, and has the largest market share and highest consumer awareness of any bedding brand on the continent. In the United States, Sealy sells its products to approximately 3,000 customers with more than 7,000 retail outlets. Sealy is also a leading supplier to the hospitality industry. For more information, please visit http://www.sealy.com/.
This document contains forward-looking statements within the meaning of the safe harbor provisions of the Securities Litigation Reform Act of 1995. Terms such as "expect," "believe," "continue," and "grow," as well as similar comments, are forward-looking in nature. Although the Company believes its growth plans are based upon reasonable assumptions, it can give no assurances that such expectations can be attained. Factors that could cause actual results to differ materially from the Company's expectations include: general business and economic conditions, competitive factors, raw materials purchasing, and fluctuations in demand. Please refer to the Company's Securities and Exchange Commission filings for further information.
Sealy Corporation
CONTACT: Mark D. Boehmer, VP & Treasurer, Sealy Corporation, +1-336-862-8705
Web Site: http://www.sealy.com/
SXC Health Solutions to present at upcoming conferences
LISLE, IL, Sept. 22 /PRNewswire-FirstCall/ -- SXC Health Solutions Corp. ("SXC" or the "Company") , a leading provider of technology and pharmacy benefit management (PBM) services, announces that Jeff Park, Executive Vice President and CFO, will present at two upcoming conferences in New York City on Tuesday, October 6, 2009.
The Fourth Annual JMP Securities Healthcare Focus Conference will be held at the New York Palace Hotel. SXC's presentation will take place at 11:30 am ET and will be webcast live. To access the webcast go to: http://www.wsw.com/webcast/jmp9/sxci/
The William Blair Emerging Growth Stock Conference will be held at the Waldorf Astoria Hotel. SXC's presentation will take place at 2:00 pm ET and will be webcast live. To access the webcast go to: http://www.wsw.com/webcast/blair18/sxci/
About SXC Health Solutions Corp.
SXC Health Solutions Corp. is a leading provider of pharmacy benefit management (PBM) services and Healthcare Information Technology (HCIT) solutions to the healthcare benefits management industry. As the industry's "technology-enabled PBM"(TM), SXC's product offerings and solutions combine a wide range of advanced PBM services, software applications, application service provider (ASP) processing services, and professional services to help healthcare organizations reduce the cost of prescription drugs and deliver better healthcare to their members. SXC serves many of the largest organizations in the pharmaceutical supply chain, such as health plans; employers; federal, provincial, and state governments; institutional pharmacies; pharmacy benefit managers; and retail pharmacy chains. SXC is headquartered in Lisle, Illinois with multiple locations in North America.
SXC Health Solutions Corp.
CONTACT: Jeff Park, Chief Financial Officer, SXC Health Solutions Corp., Tel: (630) 577-3206, investors@sxc.com; Susan Noonan, Investor Relations - U.S., S.A. Noonan Communications, LLC, (212) 966-3650, susan@sanoonan.com; Dave Mason, Investor Relations - Canada, The Equicom Group Inc., (416) 815-0700 ext. 237, dmason@equicomgroup.com
BioMarin Initiates Phase 2 Clinical Study of PEG-PAL in PKU
NOVATO, Calif., Sept. 22 /PRNewswire-FirstCall/ -- BioMarin Pharmaceutical Inc. announced today that the first patient has initiated treatment in the Phase 2 clinical study of PEG-PAL (PEGylated recombinant phenylalanine ammonia lyase) for the treatment of phenylketonuria (PKU). Initial top-line results are expected in mid-2010.
"We remain optimistic on this program and believe that, if approved, PEG-PAL may offer a significant benefit for many PKU patients, especially those who do not respond adequately to Kuvan," said Hank Fuchs, M.D., Chief Medical Officer of BioMarin. "In our view, the flexible design of the Phase 2 protocol provides multiple opportunities to arrive at an optimal dose and dosing frequency that is tolerable in at least in a sub-segment of the PKU population. We are encouraged by the results of the Phase 1 study, which showed a substantial blood Phe level reduction across all patients in the fifth cohort at a dose of 0.1mg/kg, no serious adverse events, and reactions as expected with a protein of this nature.
The Phase 2 clinical trial is an open-label, multi-center study to be conducted in up to 35 patients in a series of dose-escalating cohorts from 0.001 mg/kg. The primary treatment period of eight once weekly injections at a fixed dose will be followed by eight weeks of dose and frequency optimization and an extension period where doses can be increased up to 2.0 mg/kg/week.
The primary objective is to evaluate the effect of PEG-PAL on blood Phe concentrations in subjects with PKU. The secondary objectives are to evaluate the safety and tolerability, immune response and steady state pharmacokinetics of subcutaneous injections of multiple dose levels of PEG-PAL.
About PEG-PAL
PEG-PAL (PEGylated recombinant phenylalanine ammonia lyase) is an investigational enzyme substitution therapy for the treatment of PKU. Pharmacology studies conducted in the PKU mouse model demonstrated that weekly subcutaneous administrations of PEG-PAL resulted in a significant and stable decrease of plasma phenylalanine. BioMarin estimates that PEG-PAL could be a potential treatment option for a significant portion of the PKU population.
About BioMarin
BioMarin develops and commercializes innovative biopharmaceuticals for serious diseases and medical conditions. The company's product portfolio comprises three approved products and multiple clinical and pre-clinical product candidates. Approved products include Naglazyme (galsulfase) for mucopolysaccharidosis VI (MPS VI), a product wholly developed and commercialized by BioMarin; Aldurazyme (laronidase) for mucopolysaccharidosis I (MPS I), a product which BioMarin developed through a 50/50 joint venture with Genzyme Corporation; and Kuvan (sapropterin dihydrochloride) Tablets, for phenylketonuria (PKU), developed in partnership with Merck Serono, a division of Merck KGaA of Darmstadt, Germany. Other product candidates include PEG-PAL (PEGylated recombinant phenylalanine ammonia lyase), which is currently in Phase II clinical development for the treatment of PKU and GALNS (N-acetylgalactosamine 6-sulfatase), which is currently in Phase I/II clinical development for the treatment of MPS IVA. For additional information, please visit http://www.bmrn.com/. Information on BioMarin's website is not incorporated by reference into this press release.
Forward-Looking Statement
This press release contains forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc., including, without limitation, statements about: the development of its product candidate PEG-PAL, and expectations related to clinical trials of PEG-PAL. These forward-looking statements are predictions and involve risks and uncertainties such that actual results may differ materially from these statements. These risks and uncertainties include, among others: the results of current and planned clinical trials related to PEG-PAL; the content and timing of decisions by the U.S. Food and Drug Administration and other regulatory agencies, particularly with respect to PEG-PAL, and those factors detailed in BioMarin's filings with the Securities and Exchange Commission, including, without limitation, the factors contained under the caption "Risk Factors" in BioMarin's 2008 Annual Report on Form 10-K. Stockholders are urged not to place undue reliance on forward-looking statements, which speak only as of the date hereof. BioMarin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise.
BioMarin , Naglazyme and Kuvan are registered trademarks of BioMarin Pharmaceutical Inc.
Aldurazyme is a registered trademark of BioMarin/Genzyme LLC.
Contacts:
Investors Media
Eugenia Shen Susan Berg
BioMarin Pharmaceutical Inc. BioMarin Pharmaceutical Inc.
(415) 506-6570 (415) 506-6594
BioMarin Pharmaceutical Inc.
CONTACT: Investors, Eugenia Shen, +1-415-506-6570, or Media, Susan Berg, +1-415-506-6594, both of BioMarin Pharmaceutical Inc.
Web Site: http://www.bmrn.com/
American Lorain Signs Contracts With Two Popular Chain Restaurants in China
JUNAN COUNTY, China, Sept. 22 /PRNewswire-Asia-FirstCall/ -- American Lorain Corporation (NYSE AMEX: ALN) ("American Lorain" or the "Company"), an international processed foods company based in Shandong Province, People's Republic of China ("PRC"), today announced that it has started cooperating with KUNGFU Catering Management Co., Ltd. ("KUNGFU") and CSC Catering Management Co., Ltd. ("CSC").
Under the cooperation agreement with KUNGFU, American Lorain will distribute beef products, mixed vegetables, and frozen chestnut kernels for a total sales value of up to RMB 14.4 million (approximately $2.1 million) to be delivered throughout 2010. The Company has already begun supplying CSC with frozen vegetables and chestnuts and is currently in negotiations with CSC headquarters to determine the distribution of more products. The Company estimates that the increased cooperation with CSC may add approximately RMB 60.0 million (approximately $8.8 million) in revenue for fiscal year 2010.
These cooperation agreements are part of American Lorain's strategy to strengthen domestic sales channels through shifting sales to agents and entering into new market places like large- to mid-sized restaurant chains. In 2008, the Company signed a distribution contract with Yum! Brands China Division to provide frozen, canned and bulk food products for its restaurants. The Company continues to distribute products under the contract.
"We are honored to cooperate with KUNGFU and CSC and believe we can provide these restaurant chains with a stable supply of high-quality food products and superior services, thus helping them eliminate food safety concerns and the need to establish stricter quality control standards," said Mr. Si Chen, Chief Executive Officer of American Lorain. "In recent years, chain restaurants have grown in popularity in China for their convenience, consistent quality, and neatness. Cooperating with them should help us reach a broader consumer base domestically."
About KUNGFU Catering Management Co., Ltd
KUNGFU Catering Management Co., Ltd was founded in 1994. As China's first chain restaurant to achieve the Chinese Fast Food Standardization certificate, KUNGFU has adhered to international standards on quality, service and sanitation. Currently, KUNGFU operates 332 restaurants in Guangzhou, Beijing, Shanghai, Shenzhen, Hangzhou, Suzhou and other major cities, and is becoming one of the leading Chinese fast food brands. For more information, please visit http://www.zkungfu.com/ .
About CSC Catering Management Co., Ltd.
CSC ("Country Style Cooking") Catering Management Co., Ltd. was established in Chongqing in 1996 and operates based on a model by the American CSC International Management Corporation. CSC is the leading healthy fast food brand in the southwestern China and currently owns 70 restaurants in Chongqing. The chain plans to open more than 100 restaurants under its own control in municipalities and provincial capitals throughout China, expanding to Shanghai, Chengdu, Xi'an and other cities within the next three years. For more information, please visit http://www.csc100.com/ .
About American Lorain Corporation
American Lorain Corporation ("American Lorain" or the "Company") is a Delaware corporation that develops, manufactures and sells various food products. The Company's products include chestnut products; convenience foods products (including ready-to-cook foods, ready-to-eat foods, and meals-ready-to-eat); and frozen, canned and bulk foods products. The Company currently sells over 234 products to 26 provinces and administrative regions in China as well as to 42 foreign countries. The Company operates through its four direct and indirect subsidiaries and one leased factory located in China. For more information about American Lorain, please visit our website at http://www.americanlorain.com/ .
Forward-Looking Statements
Statements contained herein that relate to the Company's future performance, including statements with respect to forecasted revenues, margins, cash generation and capital expenditures are "forward-looking statements." Such statements involve a number of risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance or achievements to differ materially from those anticipated. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Among the factors that could cause actual results to materially differ include: general business and economic conditions, particularly the current downturn in the worldwide economy; our ability to obtain adequate supplies of raw materials; our ability to manage our expansion strategy; changes in foreign currency exchange rates; government regulation; difficulties in new product development; changing consumer tastes in disparate markets worldwide and our ability to address those changes; our ability to attract and retain highly qualified personnel; and other factors affecting our operations that are set forth in our Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
American Lorain Corp
Mr. Alan Jin, CFO
Phone: +86-21-6145-3891
Email: alanjin@americanlorain.com
Web: http://www.americanlorain.com/
CCG Investor Relations
Mr. Crocker Coulson, President
Phone: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Ms. Linda Salo, Financial Writer
Phone: +1-646-922-0894
Email: Linda.salo@ccgir.com
Web: http://www.ccgirasia.com/
American Lorain Corporation
CONTACT: American Lorain Corp, Mr. Alan Jin, CFO, +86-21-6145-3891, or alanjin@americanlorain.com; Or CCG Investor Relations, Mr. Crocker Coulson, President, +1-646-213-1915, or crocker.coulson@ccgir.com; Or Ms. Linda Salo, Financial Writer, +1-646-922-0894, or Linda.salo@ccgir.com
Web site: http://www.americanlorain.com/
Big 5 Sporting Goods Corporation to Present at the Thomas Weisel Consumer Conference
EL SEGUNDO, Calif., Sept. 22 /PRNewswire-FirstCall/ -- Big 5 Sporting Goods Corporation , a leading sporting goods retailer, today announced that Steven G. Miller, the Company's Chairman, President, and Chief Executive Officer, and Barry D. Emerson, the Company's Senior Vice President and Chief Financial Officer, will be presenting at the Thomas Weisel Consumer Conference, to be held on October 1, 2009, at The Palace Hotel, in New York, New York.
The Big 5 Sporting Goods investor presentation is scheduled for Thursday, October 1, 2009, at 2:40 p.m. EDT. The presentation will be webcast live at http://www.big5sportinggoods.com/ and archived until October 15, 2009. Visitors to the website should select the "Investor Relations" link to access the webcast.
About Big 5 Sporting Goods Corporation
Big 5 is a leading sporting goods retailer in the western United States, operating 382 stores in 11 states under the "Big 5 Sporting Goods" name. Big 5 provides a full-line product offering in a traditional sporting goods store format that averages 11,000 square feet. Big 5's product mix includes athletic shoes, apparel and accessories, as well as a broad selection of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, tennis, golf, snowboarding and in-line skating.
Big 5 Sporting Goods Corporation
CONTACT: Barry Emerson, Sr. Vice President and Chief Financial Officer of Big 5 Sporting Goods Corporation, +1-310-536-0611; or John Mills, Senior Managing Director of ICR, Inc., +1-310-954-1105, for Big 5 Sporting Goods Corporation
Web Site: http://www.big5sportinggoods.com/
The McGraw-Hill Companies Named One of the Greenest Big Companies in America by Newsweek MagazineCorporation Gets High Marks in Inaugural Newsweek Green Rankings for 2009
NEW YORK, Sept. 22 /PRNewswire-FirstCall/ -- The McGraw-Hill Companies today announced it has been named one of the "Greenest Big Companies in America" in Newsweek magazine's 2009 Green Rankings, which evaluates the environmental performance, policies and reputation of the 500 largest U.S. corporations. The Corporation ranked among the top 15 percent of major U.S. companies for sustainability.
The Corporation was recognized for integrating environmental responsibility as a fundamental part of its overall corporate citizenship. In recent years, several green initiatives, including capital improvements for energy and resource efficiency, have been undertaken across The McGraw-Hill Companies. Specific activities include opening a new LEED silver-certified "green" building in Dubuque, Iowa, which was built with recycled and regionally manufactured materials; upgrading thousands of lighting fixtures in facilities around the world to energy-efficient lamps; improving workspace design; regular waste audits at all of its facilities to reduce waste and increase recycling; and upgrading heating and cooling systems to be more energy efficient.
"We are deeply committed to environmentally friendly business practices and proud that our environmental performance and policies rank among the very best of America's largest enterprises," said Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies. "Our commitment to sustainability and to reducing our carbon footprint is among the most important contributions we can make as a corporation. We take this responsibility very seriously and remain committed to being a leader in this area."
In 2007, the Corporation established Green Teams, a collection of McGraw-Hill employees who gather together to find ways to improve environmental performance and then work to implement solutions. Green Teams are located in more than 20 McGraw-Hill offices across the country and participate in activities such as paper conservation, building-wide environmental awareness campaigns, recycling old electronic and office equipment and beautifying local parks.
A complete list of Newsweek's 2009 Green Rankings can be found at http://greenrankings.newsweek.com/.
About The McGraw-Hill Companies:
Founded in 1888, The McGraw-Hill Companies is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2008 were $6.4 billion. Additional information is available at http://www.mcgraw-hill.com/.
Investor Relations: http://www.mcgraw-hill.com/investor_relations
Get news direct from McGraw-Hill via RSS:
http://investor.mcgraw-hill.com/phoenix.zhtml?c=96562&p=newsRSS
Release issued: September 22, 2009
The McGraw-Hill Companies
CONTACT: Jason Feuchtwanger, Director, Corporate Media Relations of The McGraw-Hill Companies, office, +1-212-512-3151, mobile, +1-347-419-4169, jason_feuchtwanger@mcgraw-hill.com
Web Site: http://www.mcgraw-hill.com/
Inverness Medical Innovations, Inc. Announces Offering of $100 Million of Senior Notes
WALTHAM, Mass., Sept. 22 /PRNewswire-FirstCall/ -- Inverness Medical Innovations, Inc. announced today that it intends to offer $100 million of senior notes due 2016 through a private placement, subject to market and other conditions. Inverness intends to use the net proceeds from the offering solely to fund its previous announced acquisition of Free & Clear, Inc.
The private placement, which is expected to commence immediately, will be to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States in compliance with Regulation S under the Securities Act. The notes are not being registered under the Securities Act. Unless so registered, the notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the expected offering and the use of proceeds. These statements reflect Inverness' current views with respect to future events and are based on management's current assumptions and information currently available. Actual results may differ materially due to numerous factors including, without limitation, risks associated with market and economic conditions. Inverness undertakes no obligation to update any forward-looking statements contained herein.
Inverness Medical Innovations, Inc.
CONTACT: Doug Guarino, Director of Corporate Relations of Inverness Medical Innovations, Inc., +1-781-647-3900
LIONSGATE(R) Scores Rights to Next Film From Academy Award(R) Winner Stephen GaghanStudio Acquires Worldwide Distribution Rights To Gaghan's First Film Since Oscar(R)-Winning SYRIANA
SANTA MONICA, Calif., Sept. 22 /PRNewswire-FirstCall/ -- LIONSGATE , the leading next generation studio, announced today that it has acquired worldwide distribution rights to the latest film by Academy Award -winning writer and director Stephen Gaghan (TRAFFIC, SYRIANA). Gaghan will direct and produce the film, a character-driven action thriller that he is co-writing with Shannon Burke. Allyn Stewart and Kipp Nelson are executive producers. The announcement was jointly made today by Joe Drake, Lionsgate Co-Chief Operating Officer and Motion Picture Group President, and Alli Shearmur, Lionsgate President of Motion Picture Production.
Said Shearmur, "We are very excited to be in business with Stephen Gaghan, a master storyteller who has raised the bar for character-driven suspense in contemporary film. Steve has earned the right to have greater control over the creative content of his films along with a meaningful participation in its commercial success. It's the kind of deal that Lionsgate is uniquely positioned to offer superior creators like Steve, and the formula works beautifully for all involved -- for Steve, for Lionsgate, and not least, for audiences looking for smart, thrilling entertainment."
Said Gaghan, "Lionsgate as a studio has a proven track record in delivering great genre hits, and I'm impressed by the acumen and commitment of the entire team. Joe, Alli, and Wolfgang believe in putting the filmmaker at the center of the process, and they've built a next-generation business model that allows filmmakers to participate as true partners in the economic value they're generating. It's an attractive and innovative way to do business, which hopefully will lead to greater risk-taking in the exploration of established genres."
Wolfgang Hammer, Lionsgate Senior Vice President of Motion Picture Production, brought the project to Lionsgate and will supervise with Shearmur. The deal was negotiated for Lionsgate by Hammer, and for Gaghan by David Wirtschafter of WME and Steve Warren of Hansen, Jacobson, Teller, Hoberman, Newman, Warren & Richman.
SYNOPSIS
All global activities are local somewhere... an elite, highly trained, deep cover operative loses everything, ultimately disappearing into Brooklyn, where he must start over. He washes up as a beat cop, only to discover the global organization he was dedicated to fighting is also operating in his new backyard.
ABOUT LIONSGATE
Lionsgate is the leading next generation studio with a strong and diversified presence in the production and distribution of motion pictures, television programming, home entertainment, family entertainment, video-on-demand and digitally delivered content. The Company has built a strong television presence in production of prime time cable and broadcast network series, distribution and syndication of programming through Debmar-Mercury and an array of channel platform assets, including TV Guide Network in partnership with JPMorgan's One Equity Partners and Allen Shapiro, the Epix multiplatform channel expected to launch in October 2009 with partners Viacom and MGM, the FEARnet branded horror channel with partners Comcast and Sony, and the KIX and Thrill branded action and horror channels in Asia. Its feature film business achieved a number one box office opening weekend in September 2009 with the eighth film in the Tyler Perry franchise, I CAN DO BAD ALL BY MYSELF, with the sixth film in the Saw franchise opening in October 2009. The Company's home entertainment business has grown to more than 7% market share and leads the industry in its box office-to-DVD revenue conversion rate. Lionsgate handles a prestigious and prolific library of approximately 12,000 motion picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate brand remains synonymous with original, daring, quality entertainment in markets around the world.
http://www.lionsgate.com/
For further information, contact:
Sarah Greenberg
310-255-3856
sgreenberg@lionsgate.com
For corporate inquiries, please contact:
Peter D. Wilkes
310-255-3726
pwilkes@lionsgate.com
Lionsgate
CONTACT: Sarah Greenberg, +1-310-255-3856, sgreenberg@lionsgate.com, or corporate inquiries, Peter D. Wilkes, +1-310-255-3726, pwilkes@lionsgate.com, both of LIONSGATE
Web Site: http://www.lionsgate.com/
D&W Fresh Markets and Family Fare Supermarkets Introduce 'Nutrition Guide'Educational Program Makes Eating Healthy on a Budget Simple, Affordable, and Good For You. Program Endorsed by YMCA of Greater Grand Rapids, Area Health Providers, and Older Adult Services Groups
GRAND RAPIDS, Mich., Sept. 21 /PRNewswire-FirstCall/ -- While most of us know it is important to eat healthy and follow dietary guidelines, it's often easier said than done. Busy life styles, tight food budgets, and confusing food labels can create obstacles for even the best intentioned.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090922/CL79222LOGO )
Fortunately, Spartan Stores, Michigan's largest conventional supermarket operator, is introducing a new program called The Nutrition Guide through its West Michigan banners, D&W Fresh Markets and Family Fare Supermarkets, beginning September 13, 2009. More than 16,000 products will be clearly identified with a color-coded labeling system, indicating:
-- Low fat (orange label)
-- Low sodium (tan)
-- High fiber (teal blue)
-- Gluten free (green)
-- Sugar free (purple)
-- Low calorie (yellow)
These categories are supported by the Food and Drug Administration (FDA). A variety of foods that are low in fat, low in sodium, and high in fiber also will be identified with a heart label indicating they are heart friendly.
Need for Better Labeling
The U.S. Grocery Shopper Trends 2009 Report from the Food Marketing Institute found that only 15% of grocery store shoppers were extremely satisfied with the nutrition information provided by their primary grocery store, and that 35% were somewhat satisfied and 38% were neither satisfied or dissatisfied.(1) This, coupled with Spartan Stores 2009 independent research indicating the majority of consumers believe it is extremely or very important that their grocery stores of choice provide information about the health and nutrition benefits of the products they purchase(2) led Spartan Stores to develop The Nutrition Guide program. (See additional research findings sited in attached document.)
Educational Kick Off
D&W Fresh Markets and Family Fare hosted a PRESS BRIEFING and interactive NUTRITION DEMONSTRATION at their Grandville D&W Fresh Market Culinary Classroom on Wednesday, September 16, 2009 at 1:30 pm to introduce The NUTRITION GUIDE .
Ron Nelson, President of the YMCA of Greater Grand Rapids, along with the YMCA branch Executive Directors and Wellness Directors, the Program Director for Gerontology Network's Traveling Grannies/Grandpas statewide program, the Wellness Director at Holland's Evergreen Commons Senior Center, and Manager of Forest Hills Seniors Community Services Programs joined Spartan Stores' Registered Dietitian Heather Leets for a demonstration about the program and how to create healthy meals - including healthy back to school lunches, senior meals, and portable work meals on a budget using the new labeling guidelines.
Leets and a team of Registered Dietitians designed The Nutrition Guide program to highlight specific attributes on nutrition labeling on more than 16,000 food products sold in D&W Fresh Markets and Family Fare Supermarkets. Her hands on experience with providing healthy recipes (on a budget), on the web and in print ads, Ask the Dietitian web-based program, and participation in statewide health fairs heightened her awareness for the need for better labeling. She and her team have spent months designing the program and labeling system.
"The D&W Culinary Classroom is the ideal setting for this kick off," notes Spartan Stores' Executive Vice President Merchandising and Marketing Alan Hartline. Our facilities have 12 commercial grade cooking stations and all the necessary equipment. Attendees not only learned about our Nutrition Guide and labeling system, they also had fun planning healthy, appetizing, affordable meals without fuss and confusing measurements. Afterward, participants had the opportunity to tour our Grandville D&W Fresh Market and check out how the color-coded nutritional labeling system works. It is very easy and ties in with both our weekly recipes and our in-store specials. Our registered dietitian, Heather Leets, facilitated the interactive meal presentation and our tour."
Simple, Easy Guidelines
"The beauty of The Nutrition Guide," notes Leets, "is it is very simple to follow. The labels are all color-coded by FDA category. Any one, any age, any education, any language can quickly identify food attributes that are important to them, like low fat, low sodium and high fiber for a heart friendly choice for healthy meal planning. For example, if you are a parent wanting to limit your children's intake of excess sugar, or someone who's been newly diagnosed with celiac disease, the Nutrition Guide shelf tags can be a helpful tool with your purchasing decisions."
Leets emphasized, "The Nutrition Guide is not intended to rank foods as 'healthy' or 'unhealthy,' but rather to simply call out foods that are Low Fat, Low Sodium, High Fiber, Gluten Free, Sugar Free and Low Calorie, making it easier to identify foods that may benefit you and your family's health."
Healthy, Affordable Recipes and Online Support
Leets is developing simple, healthy, affordable recipes that will often feature weekly sale items for customers to pick up in their local D&W Fresh Markets and Family Fare Supermarkets. She also provides online support through the "To Your Good Life" link on the Spartan Stores, D&W and Family Fare websites.
Community Partners
Mishelle Bakewell, MA, Community Outreach Manager for Metro Health, endorses The Nutrition Guide, noting: "Many people get confused when trying to make good nutrition choices. Label reading can be a chore with all the complicated words and graphs, numbers that many people don't understand. I think The Nutrition Guide program will simplify choices. It will also save time as a lot of folks shop on the run and taking time to read a label becomes one more thing to do. There is also contradicting information out there that further confuses people. The easy at a glance labels will help the shopper make good choices in less time. Tying in the sale items along with healthy recipes is an added bonus as shoppers can meal plan, shop and save money all at the same time. It is a win-win for health conscious shoppers."
Gary Strekle, Health and Wellness Director for the David D. Hunting Branch of the YMCA, attended the September 16th kick off with President Ron Nelson and area branch Executive Directors and Wellness Directors and is excited about The Nutrition Guide program. "This is exactly the type of program we want to share with our members and program participants. Our 'Move it to Lose It' participants will be able to shop Family Fare and D&W Fresh Markets and use this new Guide to help make better food purchasing decisions. This labeling system, easy and affordable recipes, and online support will make it even easier, not just for this group but all of our YMCA members and guests. We are really excited about how we can connect this with some of our outreach efforts like the Healthy U program and Activate West Michigan. We also look forward to an ongoing relationship so that together we can help improve the health of West Michigan residents."
Spartan Stores recognizes that older adults may have special nutritional needs and therefore has established ongoing educational programs with Holland-based Evergreen Commons, the Forest Hills Senior Center, and Grand Rapids-based Gerontology Network. Representatives from all three organizations attended the September 16th kick off, as well as set up educational programs and store tours throughout their service areas.
Peggy Burns, Program Director for Gerontology Network's Traveling Grannies/Grandpas program attended the September 16th kick off along with two traveling grandparents. She believes The Nutrition Guide will be a tremendous help to the more than 60 "Traveling Grannies and Grandpas." "Our Traveling Grannies and Grandpas who mentor teenage girls are on the front line, helping young mothers learn critical skills - from parenting and preventive healthcare to managing a budget and grocery shopping for nutritional foods. This will be an invaluable help to them."
For a complete list of store locations and maps, visit online at:
Family Fare Supermarket
http://www.familyfaresupermarkets.com/
D&W Fresh Market
http://www.dwfreshmarket.com/
About Spartan Stores
Spartan Stores is the nation's eleventh largest grocery distributor headquartered in Byron Center, Michigan. The Company owns and operates 99 retail supermarkets throughout Michigan under the banners of D&W Fresh Markets, Family Fare Supermarkets, Felpausch Food Centers, Glen's Markets, Glen's Fresh Marketplace, and VG's. Spartan Stores also distributes more than 40,000 private-label and national brand products to nearly 350 independent grocery stores in Michigan, Indiana and Ohio. Visit http://www.spartanstores.com/
About YMCA of Greater Grand Rapids
Founded in 1866, the YMCA of Greater Grand Rapids is composed of eight branches that serve 95,173 residents in the Greater Grand Rapids community. YMCA core programs include: aquatics, child care, health and wellness, arts and humanities, and youth/adult sports. All program curricula is structured to develop the YMCA's core values of Caring, Honesty, Respect, and Responsibility. The vision of the YMCA is to be the community leader in building strong kids, strong families, and strong communities. Visit http://www.grymca.org/
About Gerontology Network
Gerontology Network currently serves approximately 5000 older adults throughout West Michigan and offers a set of affiliate programs and services, including education, outreach and assistance, respite care, mental health, substance abuse and counseling for older adults, their families and care providers. GN addresses safety and medication compliance issues through the products and services of its "Life Connections" program. GN also offers vision services through its affiliation with Welcome Homes Residential Services and the Association for the Blind and Visually impaired. On June 1, 2009, Gerontology Network formed an affiliation with Porter Hills Retirement Communities & Services. Gerontology Network and its 100 employees are merged with Porter Hills and are now part of an umbrella of services for older adults. Visit: http://www.gerontologynetwork.org/
About Evergreen Commons
Located in Holland, Michigan, Evergreen Commons is a nonprofit senior center with over 4,000 members. The center offers adults age 50+ the opportunity to discover life-long learning, health & wellness activities, friends and more. The Evergreen Activity Center offers a fitness center and pool; dance, art & language classes; enriching clubs, activities, and music groups; a world class woodshop; and the opportunity to travel, dine, and volunteer. Evergreen Senior Care Services share the caring for your older loved one at home or at Evergreen. Evergreen is the community hub for senior information and services. Evergreen offers Adult Day Services, In-Home Care, Home Delivered Meals, Care Coordination, Caregiver Training & Support and more. Services are open to the community. Visit http://www.evergreencommons.org/
References:
1. The U.S. Grocery Shopper Trends 2009 Report, Food Marketing Institute (FMI), 2345 Crystal City, Suite 800, Arlington, VA 22202
2. Spartan Stores Independent Research - June 2009
Photo: http://www.newscom.com/cgi-bin/prnh/20090922/CL79222LOGO
Spartan Stores
CONTACT: Jeanne Norcross, Vice President Corporate Affairs, +1-616-878-2830, of Spartan Stores
Web Site: http://spartanstores.com/
Ameris Bancorp Declares Stock Dividend
MOULTRIE, Ga., Sept. 22 /PRNewswire-FirstCall/ -- AMERIS BANCORP , announced today that its Board of Directors has approved the distribution of the Company's regular quarterly dividend to be paid in shares of common stock. The stock dividend is equal in value to the prior quarter's cash dividend of five cents per share, based on Ameris Bancorp's average thirty day closing stock price through September 17, 2009 of $6.47 per share. The dividend rate is 0.7692 percent, and the Company will distribute one new share for every 130 shares held on the record date. The record date is September 30, 2009, with a payable date of October 10, 2009.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051117/CLTH039LOGO )
Fractional shares will be paid in cash to registered shareholders based on the closing price of Ameris Bancorp stock on the record date. All other shareholders, including those enrolled in the Company's dividend reinvestment plan and those whose shares are held in brokerage accounts will have fractional shares credited to their accounts.
Edwin W. Hortman, Jr., President & CEO commented, "Our Company is continuing to take the necessary actions to protect and strengthen our capital base during this unprecedented economic environment. We recognize that a dividend is important to many shareholders and believe a stock dividend is an approach that meets various objectives. Those shareholders who prefer a cash dividend have the option to sell these additional shares, while others may choose to increase their ownership by holding the dividend shares."
Shareholders will receive additional details concerning the stock dividend in a direct mailing.
Ameris Bancorp is headquartered in Moultrie, Georgia, and at the end of the most recent quarter, had 50 locations in Georgia, Alabama, northern Florida and South Carolina.
Ameris Bancorp Common Stock is quoted on the NASDAQ Global Select Market under the symbol "ABCB". The preceding release contains statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe", "estimate", "expect", "intend", "anticipate" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates which they were made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements.
Photo: http://www.newscom.com/cgi-bin/prnh/20051117/CLTH039LOGO
Ameris Bancorp
CONTACT: Dennis J. Zember Jr., Executive Vice President & CFO, +1-229-890-1111
Web Site: http://www.amerisbank.com/
Diageo Awards Eighteen Chicago-Area Hospitality Hopefuls With $60,000 In ScholarshipsWorld's Leading Beverage Alcohol Company Supports Community Members in Continuing Education and Pursuing Careers in Service and Hospitality Industry
NORWALK, Conn., Sept. 22 /PRNewswire-FirstCall/ -- Diageo, the world's leading spirits, beer and wine company, presented eighteen local students with $60,000 in scholarships at an event in Chicago last night. The inaugural awards reception kicked off the "Celebrate the Future" scholarship program, which awards Chicago-area students over 21 who are planning to begin a career in the service or hospitality industry, with a focus on supporting students of Hispanic background.
In an effort to present opportunities to community members seeking to enter the service and hospitality industry, Diageo founded the "Celebrate the Future" scholarship program in March of this year. The launch was followed by an overwhelming response by applicants looking to fulfill their dreams to become a professional in the hospitality industry, which led Diageo to add two further scholarship awards to the program. Diageo partnered with local Latino lifestyle magazine Cafe Media to promote the competition.
"Diageo always encourages its employees to be the best, and we understand that education is the premier foundation for success," said Luis Rosado, Marketing Manager, Diageo North America. "Creating this scholarship program with Cafe Media as partners has allowed us to promote this concept over numerous platforms, while also underscoring our commitment to diversity."
The eighteen "Celebrate the Future" scholarships were awarded in two categories, with $40,000 going to higher education scholarships and $20,000 to vocational scholarships. The inaugural group of scholarship recipients includes:
-- Ivette Aguirre
-- Delfino Carbajal
-- Ana Padilla
-- Mariela Marcellez
-- Tania Merlos Ruiz
-- Edson Miranda
-- Hector Salinas
-- Jonatan Romero
-- Bartolo Zamora
-- Eduardo Macias
-- Gerardo Dorado
-- Janette Matos
-- Ronald Chavez
-- Jonathan Exclusa
-- Pearl Gonzalez
-- Florencia Nava
-- Maximiliano Acuna
-- Rocio Herrera
Rosado added, "We proudly congratulate the Celebrate the Future winners and look forward to watching their careers flourish through the benefits of a solid educational foundation."
Presenters at the inaugural awards reception included representatives from Diageo and Wirtz Beverage Group of Illinois; Moreno's Liquors owner, Mike Moreno; and Mi Tierra owner, Nancy Nunez. Plans for "Celebrate the Future" 2010 awards are currently underway. For more information on the program, please visit http://www.cafemagazine.com/future .
About Diageo
Diageo (Dee-AH-Gee-O) is the world's leading premium drinks business with an outstanding collection of beverage alcohol brands across spirits, wines and beer categories. These brands include Johnnie Walker, Guinness, Smirnoff, J&B, Baileys, Cuervo, Tanqueray, Captain Morgan, Crown Royal, Beaulieu Vineyard and Sterling Vineyards wines.
Diageo is a global company, trading in more than 180 countries around the world. The company is listed on both the New York Stock Exchange (DEO) and the London Stock Exchange (DGE).
For more information about Diageo, its people, brands, and performance, visit us at Diageo.com. For our global resource that promotes responsible drinking through the sharing of best practice tools, information and initiatives, visit DRINKiQ.com.
Celebrating life, every day, everywhere.
Diageo
CONTACT: Zsoka McDonald, Diageo +1-203-229-4730, or Rachel Rosenblatt, FD, +1-212-850-5697
Web Site: http://www.diageo.com/
Air Products and PetroChina Joint Venture to Build Air Separation Unit in ChinaPlant to Supply PetroChina Facility and Air Products' Merchant Customers
LEHIGH VALLEY, Pa., Sept. 22 /PRNewswire-FirstCall/ -- An Air Products joint venture company based in Sichuan, China has signed an agreement to build an air separation unit (ASU) for PetroChina Company Limited, one of the largest oil and gas companies in the world. The ASU will supply oxygen and nitrogen to PetroChina's main refinery and ethylene complex in Sichuan, as well as produce liquid products for Air Products' merchant gases customers in the Chengdu area. The ASU is to be on-stream in late 2011.
"This is a key project for Air Products which allows us to continue to grow both our on-site and merchant supply presence in China. We appreciate the fact that PetroChina has put its trust in Air Products to form a partnership and supply the industrial gases to its new Sichuan refinery and ethylene complex," said Phil Sproger, vice president-Business Development for Asia at Air Products.
Chengdu Air and Gas Products Co., Ltd., a joint venture between Air Products' wholly-owned subsidiary, Prodair Corporation, and PetroChina Sichuan Petrochemical Co., Ltd., a joint venture between PetroChina Company Limited and Chengdu government, will build the ASU in Sichuan province, China. The new ASU will be designed and built primarily by Air Products' engineering center in Shanghai and its cryogenic manufacturing center in Caojing, near Shanghai.
PetroChina, one of the companies with the biggest sales revenues in China, plays a leading role in the oil and gas industry in China as its largest oil and gas producer and distributor. PetroChina was established as a joint stock company with limited liabilities by China National Petroleum Corporation in 1999.
Sproger noted that this ASU fits well with Air Products' strategic plan, and allows its merchant industrial gas business to continue expanding in China. This announcement follows closely Air Products' Sept. 10 announcement about plans to purchase and operate four existing air separation units and build a new ASU, to be on-stream in March 2011, to supply industrial gases to Xingtai Iron and Steel Corporation, Ltd., one of China's largest specialty steel manufacturers located in Hebei province, China.
About Air Products
Air Products serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment. Air Products had fiscal 2008 revenues of $10.4 billion, operations in over 40 countries, and 21,000 employees around the globe. For more information, visit http://www.airproducts.com/.
About PetroChina
PetroChina is one of the largest oil and gas companies in the world. PetroChina is engaged in a broad range of oil and natural gas activities including the exploration, development, production and marketing of crude oil and natural gas; refining, transportation, storage and marketing of crude oil and oil products; production and marketing of primary petrochemical products, derivative chemical products and other chemical products; and transportation of natural gas, crude oil and refined products. Additional information on PetroChina is available at the Company's website: http://www.petrochina.com.cn/.
***NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.
Air Products
CONTACT: Media, (Asia), Jessica Cheng, +1-852-2863-0585, chengjs@airproducts.com, (U.S.), Art George, +1-610-481-1340, georgeaf@airproducts.com, or Investors, Nelson Squires, +1-610-481-7461, squirenj@airproducts.com
Web Site: http://www.airproducts.com/
SED International Holdings to Announce Fiscal 2009 Year-End Results on Friday, September 25, 2009Management to Host Teleconference and Webcast Same Day Beginning at 11:00 AM ET
TUCKER, Ga., Sept. 22 /PRNewswire-FirstCall/ -- SED International Holdings, Inc. (BULLETIN BOARD: SECX) , a multinational supply chain management provider and distributor of leading computer technology, wireless communications, consumer electronics and small appliances, today announced that it will announce its audited results of operations for the 2009 fiscal year, ended June 30, 2009, on Friday, September 25, 2009.
SED will also host a teleconference that same morning beginning at 11:00 AM Eastern, and invites all interested parties to join management in a discussion regarding its financial results, corporate progression and other meaningful developments. The conference call can be accessed via telephone by dialing toll free 1-877-941-2068 or via webcast on http://www.sedonline.com/. For those unable to participate at that time, a replay of the webcast will be available for 90 days on http://www.sedonline.com/.
The related 10-K will be filed with the U.S. Securities & Exchange Commission, and available for viewing on http://www.sec.gov/, after the market closes on Thursday, September 24, 2009.
ABOUT SED INTERNATIONAL HOLDINGS, INC.
Founded in 1980, SED International Holdings, Inc. is a multinational, preferred distributor of leading computer technology, wireless communications, consumer electronics and small appliances. The Company also offers custom-tailored supply chain management services ideally suited to meet the priorities and distribution requirements of the e-commerce, Business-to-Business and Business-to-Consumer markets. Headquartered near Atlanta, Georgia with business operations in California; Florida; Georgia; Texas; Bogota, Colombia and Buenos Aires, Argentina, SED serves a customer base of over 10,000 channel partners and retailers in the U.S. and Latin America. To learn more, please visit http://www.sedonline.com/; or follow us on Twitter @SEDIntl.
Statements made in this Press Release that are not historical or current facts are "forward-looking statements." These statements often can be identified by the use of terms such as "may," "will," "expect," "believes," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond the control of the Company that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. These factors include adverse economic conditions, entry of new and stronger competitors, inadequate capital, unexpected costs, failure to gain product approval in foreign countries and failure to capitalize upon access to new markets. The Company disclaims any obligation to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. These factors and others are discussed in the "Management's Discussion and Analysis" section of the Company's Reports on Form 10-K for the fiscal year ended June 30, 2008 and Form 10-Q for the quarter ended March 31, 2009.
FOR MORE INFORMATION, PLEASE CONTACT
Elite Financial Communications Group, LLC
Dodi Handy, President and CEO (Twitter: dodihandy)
Kathy Addison, Directors of Elite Media Group (Twitter: kathyaddison)
407-585-1080 or via email at SECX@efcg.net
SED International Holdings, Inc.
CONTACT: Dodi Handy or Kathy Addison, both for SED International Holdings, Inc., +1-407-585-1080, SECX@efcg.net
Web Site: http://www.sedonline.com/
CAPE Systems Announces Fiscal 2007, 2008, and 2009 Third Quarter Unaudited Results
SOUTH PLAINFIELD, N.J., Sept. 22 /PRNewswire-FirstCall/ -- CAPE Systems Group, Inc., (Pink Sheets: CYSG) a leading provider of software technology for packaging design, pallet optimization, RFID Asset Tracking, inventory and warehouse management, supply chain execution and order fulfillment, today announced preliminary unaudited financial results for the fiscal years ending September 30, 2007 and 2008, and the three months and nine months ended June 30, 2009.
Cape Systems Group, Inc. reported revenues of $0.5 million and $1.6 million for the three and nine month periods ended June 30, 2009, respectively. The Company also reported a $15.3 million non-cash profit (unaudited) for its third quarter ending June 30, 2009 based on anticipated settlements within the next 60 days of $8 million in liabilities related to the closing of its European operations back in 2003 and $8.4 million in liabilities related to the closing of three domestic operations in 2004. Existing operations during the same quarter had a $1.1 million loss after a $0.7 million beneficial conversion charge for the conversion of accrued interest into notes to its bondholders. The same period for the prior year had a $0.8 million loss after a $0.5 million beneficial conversion charge also for the conversion of accrued interest into notes to its bondholders. Excluding the beneficial conversion charges each year, the net operating loss for the third quarter was $0.4 million vs. $0.3 million in 2008 caused by a $0.3 million decrease in gross profit that was offset by $0.2 million in reduced S, G & A expenses based on a cost savings strategy initiated in FY2009.
Based on the third quarter's $16.4 million gain in settlement the profit for the nine months ending June 30, 2009 was $14.5 million after absorbing an operating loss of $1.9 million that included $1.2 million in beneficial conversion charges. This compares to a $1.4 million loss for the nine months ending June 30, 2008 that included $0.5 million in beneficial conversion charges. Excluding the beneficial conversion charges each year 2009's net operating loss for the nine months ending June 30 was $0.7 million vs. a $0.9 million loss in 2008. This $0.2 million improvement is the result of $0.6 million in reduced S, G & A expenses offset by a $.4 million decrease in gross profit.
For the fiscal year ended September 30, 2008, the Company reported preliminary unaudited revenues of $3.5 million. The unaudited net loss for the last fiscal year ending September 30, 2008 was $1.7 million that included $0.7 million in beneficial conversion charges vs. the prior year's unaudited net loss that ended September 30, 2007 of $3.0 million (including $1.3 million in beneficial conversion charges). Excluding the beneficial conversion charges each year 2008's net operating loss for the twelve months ending September 30, 2008 was $1.0 million vs. a $1.7 million loss in 2007. This $0.7 million improvement is the result of $1.0 million in reduced S, G & A expenses (mainly intangible amortization that finished in 2007) plus a $0.3 million increase in gross profit, which was offset by a $0.6 million decrease in gains on settlement that were realized in 2007.
About CAPE Systems
CAPE Systems is an international provider of supply chain management technologies. CAPE Systems offers a comprehensive range of software systems and tools, from packaging and pallet optimization software, RFID asset tracking, to integrated warehouse and inventory management solutions, pick-to-light systems, and transportation management systems for enterprise wide and collaborative supply chain optimization. For more information about CAPE visit: http://www.capesystems.com/.
Safe Harbor
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 safe harbor provisions of the 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.
Cape Systems Group, Inc.
CONDENSED COMBINED BALANCE SHEET
Nine Months
F/Y Ending F/Y Ending Ending June
Sept 30 2007 Sept 30 2008 30 2009
ASSETS
Cash $174,112 $217,741 $173,505
Accounts receivable, net 376,381 375,872 290,305
Allowance for Bad Debt (2,147) (2,704) (1,793)
Inventories, net 174,410 937 21,792
Prepaid expenses 49,218 35,596 38,646
Total Current Assets 771,974 627,441 522,455
Equip Gross 778,535 737,072 695,919
Accum Depr/Amort (756,423) (728,230) (683,775)
Equipment and fixtures, net 22,112 8,842 12,144
Deferred Financing Costs, net 86,146 27,621 8,934
Goodwill - Cape 341,685 285,173 285,173
Other Intangibles - Cape 1,545,785 1,666,025 1,666,025
Amortization (1,497,478) (1,666,025) (1,666,025)
Other Assets 132,075 133,951 262,745
Total Assets $1,402,299 $1,083,028 $1,091,451
LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT)
CURRENT LIABILITIES
Mandatorily redeemable
preferred stock $504,713 $504,713 $504,713
Notes payable 1,227,500 1,227,500 1,227,500
Accounts payable 3,097,363 2,957,780 184,113
Net liabilities -
subsidiaries in Liquidation 8,407,512 8,207,583 250,000
Payroll and related benefits
accrual 1,146,032 1,154,612 742,462
Accrued litigation 2,655,322 2,655,322 25,000
Other accrued expenses and
liabilities 3,802,122 4,196,918 1,819,604
Customer Deposits 357,460 112,100 19,821
Deferred revenue 612,759 533,688 557,909
Total current liabilities 21,810,783 21,550,216 5,331,122
Convertible notes payable 6,360,053 7,036,336 7,915,623
Total liabilities 28,170,836 28,586,552 13,246,745
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock 4,973,741 4,991,831 4,991,831
Preferred stock 13,657 13,657 13,657
Subscriptions receivable (66,000) (66,000) (66,000)
Additional paid-in capital 169,211,898 169,887,060 170,778,800
Accumulated equity
(deficit) (195,002,427) (197,954,211) (199,634,644)
Accum. other comprehensive
inc/( loss) (2,816,653) (2,628,187) (2,683,347)
Treasury stock (67,240) (67,240) (67,240)
YTD net income/(loss) (3,015,513) (1,680,433) 14,511,650
Total Stockholders' deficit (26,768,537) (27,503,524) (12,155,293)
Total liabilities and
stockholders' equity $1,402,299 $1,083,029 $1,091,452
Cape Systems, Inc.
CONDENSED COMBINED STATEMENT OF OPERATIONS
For the For the
For the Twelve Three Nine Months
Months Ending Months Ending Ending
Sept 30 Sept 30 June 30 June 30
2007 2008 2009 2009
REVENUE $3,224,333 $3,504,895 $548,604 $1,697,146
COST OF SALES 1,416,908 1,356,433 223,228 755,487
GROSS PROFIT 1,807,424 2,148,461 325,376 941,659
GM 56% 61% 59% 55%
OPERATING EXPENSES
Selling and administrative 3,411,878 2,898,228 558,754 1,782,197
Depreciation and
amortization 692,960 229,784 1,528 3,848
Total operating expenses 4,104,838 3,128,012 560,282 1,786,045
Operating income/(loss) (2,297,413) (979,551) (234,906) (844,386)
OTHER INCOME (EXPENSE)
Interest income 2,613 3,263 0 0
Interest expense (726,424) (936,481) (210,275) (490,166)
Beneficial Conversion Costs(1,330,967) (676,283) (696,125) (1,196,834)
Gain on settlement of
Liabilities 830,368 190,242 16,454,134 16,454,134
Other (4,388) 0 3,846 3,846
Net other income(expense)(1,228,798) (1,419,259) 15,551,580 14,770,980
INCOME/(LOSS) BEFORE
PROVISION FOR INCOME
TAXES (3,526,211) (2,398,810) 15,316,674 13,926,594
Provision for income taxes 0 2,500 1,842 1,842
Credit for sale of state tax
Benefits (510,698) (720,877) 0 (586,898)
Net income tax credit (510,698) (718,377) 1,842 (585,056)
NET INCOME (LOSS) ($3,015,513)($1,680,433)$15,314,832 $14,511,650
CAPE Systems Group, Inc.
CONTACT: Investor Relations, +1-908-756-2000
Web Site: http://www.capesystems.com/
WMECo Begins Procurement for Solar Energy FacilitiesVendor qualification under way for largest solar program in New England
SPRINGFIELD, Mass., Sept. 22 /PRNewswire-FirstCall/ -- Western Massachusetts Electric Company (WMECo) today began a multi-phase procurement process for construction of its large-scale solar energy facilities - the first of its kind in New England. Up to six megawatts (MW) of solar facilities will be built - enough to power 6,000 homes.
WMECo plans to install up to 3 MW of photovoltaic (PV) facilities during 2010 and will begin its solicitation of potential sites in the coming weeks.
WMECo today issued a Request for Qualification (RFQ) to over 100 prospective vendors who may be participating in the initial phase of the program. The RFQ requires these vendors to demonstrate financial stability, a strong safety record and their experience with large-scale solar energy projects.
Using the results of this RFQ, WMECo expects to issue a Request for Proposal (RFP) in the 4th Quarter for turnkey projects and award contracts later this year to begin construction in early 2010.
WMECo plans to select large, underutilized sites that are capable of hosting PV systems approximately 1 MW or larger, in the first phase of development. While many of the Commonwealth's existing PV systems are between 5 kW and 100 kW, these larger sites offer economies of scale that will lower installation costs and stimulate a new segment of the market. A 1 MW system (1000 kW) requires approximately four acres (ground mounted) or 100,000 square feet (roof mounted) of unobstructed space.
The Massachusetts Green Communities Act allows electric utilities to own up to 50 MW of solar facilities, subject to approval by the Massachusetts Department of Public Utilities (DPU). WMECo received its approval for 6 MW from the DPU in August - the first of its type in Massachusetts and in New England.
Western Massachusetts Electric Company, part of the Northeast Utilities System , serves approximately 200,000 customers in 59 communities throughout western Massachusetts and is committed to the environment, economic development and the health of the communities it serves. For more information about WMECo, visit their Web site at http://www.wmeco.com/.
Western Massachusetts Electric Company
CONTACT: Sandra Ahearn, +1-413-787-1055
Web Site: http://www.wmeco.com/
Majesco Entertainment Company Closes Its $9.6 Million Registered Direct Offering of Common Stock
EDISON, N.J., Sept. 22 /PRNewswire-FirstCall/ -- Majesco Entertainment Company (the "Company"), an innovative provider of video games for the mass market, announced today that it has closed its previously announced registered direct offering of 6.420 million shares of common stock at a purchase price of $1.50 per share to select institutional investors. The Company raised approximately $9.6 million in gross proceeds, before deducting placement agent fees and other estimated offering expenses. Roth Capital Partners served as the sole placement agent for the offering and Bond Lane Partners served as financial advisor.
About Majesco Entertainment Company
Majesco Entertainment Company is a provider of video games for the mass market. Building on more than 20 years of operating history, the company is focused on developing and publishing a wide range of casual and family oriented video games on leading console and portable systems. Product highlights include Cooking Mama(TM) and Cake Mania 2 for Nintendo DS(TM), and Cooking Mama World Kitchen and Jillian Michaels' Fitness Ultimatum 2009 for Wii(TM). The company's shares are traded on the Nasdaq Stock Market under the symbol: COOL. Majesco is headquartered in Edison, NJ and has an international office in Bristol, UK. More information about Majesco can be found online at http://www.majescoentertainment.com/. @Majesco is on twitter or at http://www.twitter.com/majesco.
Safe Harbor
Some statements set forth in this release, including the estimates under the headings "Outlook" contain forward-looking statements that are subject to change. Statements including words such as "anticipate", "believe", "estimate" or "expect" and statements in the future tense are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual events or actual future results to differ materially from the expectations set forth in the forward-looking statements. Some of the factors which could cause our results to differ materially from our expectations include the following: consumer demand for our products, the availability of an adequate supply of current-generation and next-generation gaming hardware, including but not limited to Nintendo's DS and Wii(TM) platforms; our ability to predict consumer preferences among competing hardware platforms; consumer spending trends; the seasonal and cyclical nature of the interactive game segment; timely development and release of our products; competition in the interactive entertainment industry; developments in the law regarding protection of our products; our ability to secure licenses to valuable entertainment properties on favorable terms; our ability to manage expenses; our ability to attract and retain key personnel; adoption of new accounting regulations and standards; adverse changes in the securities markets; our ability to comply with continued listing requirements of the Nasdaq stock exchange; the availability of and costs associated with sources of liquidity; and other factors described in our filings with the SEC, including our Annual Report on Form 10-K for the year ended October 31, 2008. We do not undertake, and specifically disclaim any obligation, to release publicly the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
Majesco Entertainment Company
CONTACT: John Gross, Chief Financial Officer, Majesco Entertainment Company, +1-732-225-8910; or Mike Smargiassi or Denise Roche of Brainerd Communicators, Inc., +1-212-986-6667
Web Site: http://www.majescoentertainment.com/
Boeing and FedEx Express Celebrate Carrier's First 777 Freighter DeliveryNew twinjet freighter to improve operational and environmental performance
EVERETT, Wash., Sept. 22 /PRNewswire-FirstCall/ -- Boeing and FedEx Express today celebrated the delivery of the world's largest air cargo carrier's first 777 Freighter. The world's largest and most capable twinjet freighter will help FedEx Express deliver more cargo even faster, allowing the carrier to offer customers greater flexibility.
This is Boeing's ninth 777 Freighter delivery and marks the first 777 Freighter to enter service with a U.S.-based global freight carrier.
"The 777F is a game changer," said Michael L. Ducker, president, International, FedEx Express. "Its operational efficiencies and environmental benefits alone are impressive, but combine those advantages with the service improvements it delivers and FedEx Express will be able to take international shipping to another level. Our customers around the world will benefit from more point-to-point routes and the shorter flight times, increasing their competitiveness in the global marketplace."
With the 777 Freighter, transit times from points in Asia to the FedEx hub in Memphis, Tenn., for example, will drop by one to three hours compared with the MD-11 Freighter. This will allow FedEx to accept packages from its customers later in the day and still deliver them on time.
"The 777 Freighter will have a unique role for FedEx Express, providing exceptional range that brings new efficiency to the airline and its customers," said Kevin Schemm, vice president, North America Sales, Boeing Commercial Airplanes. "The 777 Freighter will allow FedEx Express to operate point-to-point routes that save valuable flying time, coupled with outstanding fuel efficiency and environmental responsibility."
In the FedEx Express operation, the 777 Freighter can fly 5,800 nautical miles (6,675 statute miles, 10,740 km), an increase of 2,100 nautical miles (2,410 statute miles, 3,890 km) versus the airline's MD-11 Freighter fleet. The FedEx 777 Freighter has a revenue payload capacity of 215,000 pounds (97.5 metric tons), a 37,000-pound (16.7-metric-ton) increase over the MD-11 Freighter.
The 777 Freighter uses 18 percent less fuel than the MD-11 Freighter on comparable FedEx Express routes, reduces maintenance cost and provides quieter takeoffs and landings that meet airport noise standards.
Some 58 customers have ordered more than 1,100 777s, including 71 777 Freighters.
Contact:
Bob Saling
Boeing Cargo Communications
+1-206-852-3327 (mobile), +1-206-766-2914
bob.saling@boeing.com
Carrie Thearle
777 Communications
+1-425-418-8592 (mobile), +1-425-717-8585
carrie.a.thearle@boeing.com
Boeing
CONTACT: Bob Saling, Boeing Cargo Communications, +1-206-852-3327 (mobile), +1-206-766-2914, bob.saling@boeing.com; or Carrie Thearle, 777 Communications, +1-425-418-8592 (mobile), +1-425-717-8585 , carrie.a.thearle@boeing.com
Web Site: http://www.boeing.com/
Connectivity Becomes Major Contributor to Mobile Revenue Growth in Mexico, Finds Pyramid
CAMBRIDGE, Massachusetts, September 22 /PRNewswire/ --
Data services in Mexico will grow to represent 25 percent of the total
market in 2014 from 15 percent in 2009, as connectivity becomes one of the
most dynamic contributors to total mobile revenue growth in the coming years,
according to the latest report from Pyramid Research (www.pyr.com), the
telecom research arm of the Light Reading Communications Network
(www.lightreading.com).
Communications Markets in Mexico offers a precise, incisive profile of
the country's converged telecommunications, media, and technology sectors
based on proprietary data from our research in the Mexican market. This
29-page report provides detailed competitive analysis of both the fixed and
mobile sectors, tracks the market shares of technologies and services, and
monitors the introduction and spread of new technologies such as WiMax, IPTV,
and VoIP. This executive study provides a comprehensive view of the Mexican
communications market by analyzing key trends, evaluating near-term
opportunities and assessing upcoming risks factors. Download an excerpt of
this report here:
http://www.pyramidresearch.com/downloads.htm?id=18&sc=PR092209_CIRMEX
Mexico remains one of the most attractive communications markets in Latin
America given its size; by year-end 2008, it was the second-largest market in
the region at US$27.1 billion, notes Cesar Jimenez, Senior Analyst at Pyramid
Research and author of the report. "Over the next five years, Pyramid
Research expects Mexico's total market revenue to reach US$29.9 billion, with
mobile services revenue to account for 61 percent of the total market," he
says. "Main drivers of the growth are the expected expansion of mobile
subscriptions - fueled by intensified competition between Movistar and
Telcel, which is helping to bring down the prices of services and to boost
mobile data adoption - data services uptake, and the adoption of multiplay
bundles."
"The increasing adoption of advanced portable devices and the growing
interest in mobile content and wireless broadband connectivity are strong
signs of sustained demand for non-messaging mobile data services in Mexico,"
Jimenez says. "Pyramid expects connectivity to become one of the most dynamic
contributors to total mobile revenue growth in the coming years," he adds.
Pyramid projects that mobile broadband and infotainment services together
will represent 64 percent of total data revenue in 2014. The evolution of
Ideas Telcel, Iusacell's netbook bundles and Movistar's exclusive content is
fueling competition in the mobile broadband market.
Communications Markets in Mexico is part of Pyramid Research's Latin
America Country Intelligence Report Series. Pyramid Research's premium
Country Intelligence Reports are the industry's best available analysis on
market trends, regulatory environments, and competitive dynamics for 60
countries worldwide. Download an excerpt of this report here:
http://www.pyramidresearch.com/downloads.htm?id=18&sc=PR092209_CIRMEX
Communications Markets in Mexico is priced at US$990 and can be purchased
online here:
http://www.pyramidresearch.com/store/CIRMEXICO.htm?sc=PR092209_CIRMEX or
through Amalia Vega via email at avega@pyr.com or telephone at
+1-809-330-4520.
For more information about Pyramid Research's products and services,
please visit www.pyr.com or contact us at info@pyr.com.
About Pyramid Research
Pyramid Research (www.pyr.com) offers practical solutions to the complex
demands our clients face in the telecommunications, media and technology
industries. Our analysis is uniquely positioned at the intersection of
emerging markets, emerging technologies and emerging business models, powered
by the bottom-up methodology of our market forecasts for over 100 countries -
a distinction that has remained unmatched for more than 25 years. As the
telecom research arm of the Light Reading Communications Network, Pyramid
Research works with Heavy Reading, providing the communications industry's
most comprehensive market data, trusted research and insightful technology
analysis.
About 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 monetization
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 organized 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.
Press contact:
Jennifer Baker
+1-617-871-1910
jbaker@pyr.com
Pyramid Research
Jennifer Baker, +1-617-871-1910, jbaker@pyr.com
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