SAN FRANCISCO, Oct. 8 /PRNewswire-FirstCall/ -- Salesforce.com , the enterprise cloud computing (http://www.salesforce.com/cloudcomputing/) company, today announced that Marc Benioff, chairman and CEO of salesforce.com, will speak at the Wall Street Journal 2009 Technology Innovation Awards at the Sofitel in Redwood City, CA on Tuesday, October 13th, 2009 at 8:00 pm PDT.
A live audiocast of Benioff's presentation will be available on salesforce.com's website at http://www.salesforce.com/investor.
Salesforce.com is the enterprise cloud computing company. The company's portfolio of Salesforce CRM applications, available at http://www.salesforce.com/products/, has revolutionized the ways that companies collaborate and communicate with their customers across sales, marketing and service. The company's Force.com platform (http://www.salesforce.com/platform/) helps customers, partners and developers to quickly build powerful business applications to run every part of the enterprise in the cloud. Based on salesforce.com's real-time, multitenant architecture, Salesforce CRM and Force.com offer the fastest path to customer success with cloud computing.
As of July 31, 2009, salesforce.com manages customer information for approximately 63,200 customers including Allianz Commercial, Dell, Dow Jones Newswires, Japan Post, Kaiser Permanente, KONE, and SunTrust Banks. Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase salesforce.com applications should make their purchase decisions based upon features that are currently available. Salesforce.com has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM". For more information please visit http://www.salesforce.com/, or call 1-800-NO-SOFTWARE.
Copyright (c) 2009 salesforce.com, inc. All rights reserved. Salesforce and the "no software" logo are registered trademarks of salesforce.com, inc., and salesforce.com owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners.Photo: http://www.newscom.com/cgi-bin/prnh/20050216/SFW105LOGO
CONTACT: Stacey Thiell, Public Relations of salesforce.com,
Web Site: http://www.salesforce.com/
SANTA CLARA, Calif., Oct. 8 /PRNewswire-FirstCall/ -- Advanced Analogic Technologies, Inc. (AnalogicTech(TM)) , a developer of total power management integrated circuits, today announced that it will release financial results for the third quarter 2009 ended September 30, 2009 following the close of the market on Wednesday, October 28, 2009. The company will host a corresponding conference call and live webcast at 1:30 p.m. Pacific Time (PT), 4:30 p.m. Eastern Time (ET).
To listen to the live conference call, please dial 888-549-7735 or 480-629-9858 at 1:20 p.m. PT on October 28, 2009. An audio replay of the call will be available through November 3, 2009 by dialing 800-406-7325 or 303-590-3030, and entering the passcode 4169932.
A live webcast of the call will be available in the "Events and Webcasts" section of the company's investor relations website, http://www.aati.com/.
Advanced Analogic Technologies, Inc. (AnalogicTech) is a supplier of Total Power Management(TM) semiconductor solutions for a variety of consumer, communications, and computing systems. The company focuses its design and marketing efforts on the application-specific power management needs of such devices as mobile handsets, smartphones, digital cameras, netbooks / notebooks, personal navigation systems, and wireless LANs. AnalogicTech also develops and licenses device, process, package, and application-related technologies. AnalogicTech is headquartered in Santa Clara, CA and Macau, S.A.R., with offices in China, Hong Kong, Taiwan, Japan, Korea, and the U.K., as well as a worldwide network of sales reps and distributors. The company is listed on NASDAQ under the symbol AATI. For more information, please visit http://www.analogictech.com/. (AnalogicTech - F)
AnalogicTech and the AnalogicTech logo are trademarks of Advanced Analogic Technologies, Inc.Photo: http://www.newscom.com/cgi-bin/prnh/20050829/SFTU089LOGO
CONTACT: Investors, Lisa Laukkanen of The Blueshirt Group,
+1-415-217-4967, email@example.com, for Advanced Analogic Technologies,
Web Site: http://www.analogictech.com/
EUGENE, Ore., Oct. 8 /PRNewswire-FirstCall/ -- Pacific Continental Corporation , the bank holding company for Pacific Continental Bank, today reported financial results for the current quarter and nine months ended September 30, 2009.
"Business fundamentals improved for the quarter as indicated by growth in core earnings, a strong and stable net interest margin, and exceptional growth in core deposits all of which contributed to a return to profitability," said Hal Brown, chief executive officer. "These strong fundamentals should contribute to improved future profitability for the Company and we believe demonstrate the effectiveness of our business model and strategies," added Brown.
Net income for the third quarter 2009 was $279 thousand, compared to net income of $3.0 million for the third quarter 2008. Net income per diluted share was $0.02 for the third quarter 2009, compared to net income of $0.25 per diluted share reported for the prior year third quarter. For the first nine months of 2009 the net loss was $4.9 million compared to net income of $9.1 million for the same period during 2008. Net loss per diluted share was $0.38 for the first nine months of 2009, compared to net income of $0.76 per diluted share for the first nine months of 2008.
Core earnings, revenue growth, net interest margin and expense control drive improved efficiency
Core earnings ("earnings before loan loss provisions and taxes") expanded significantly reflecting a continued increase in the Company's earnings power. Core earnings for the third quarter were $7.8 million an increase of 33.5% over the $5.9 million reported for the similar period in 2008. This increase is the result of both increased operating revenue and continued expense control while achieving an expansion in an already stable and strong net interest margin. This result was achieved despite increased FDIC premium rates.
Operating revenue, which consists of net interest income plus noninterest income, was $14.8 million during the third quarter 2009, up $1.5 million or 11.1% over the $13.4 million reported during the third quarter 2008. Contributing to the improvement in operating revenue was an 8.9% quarter-over-quarter growth in average earning assets and an improvement in the net interest margin to 5.19%, up 11 basis points over third quarter 2008. On a linked-quarter basis, the third quarter 2009 net interest margin was up 5 basis points from the prior quarter. Interest reversals on approximately $197 thousand for loans placed on nonaccrual status during the quarter negatively impacted the net interest margin by approximately 7 basis points.
Noninterest expense for third quarter 2009 was $7.0 million, a decrease of $483 thousand from the third quarter 2008, and on a linked quarter basis was $1.6 million lower than the second quarter 2009 expenses. Comparing the two most recent quarters, the third quarter 2009 expense decline was primarily attributable to lower FDIC assessments as the second quarter included a one-time $510 thousand special assessment, a $447 thousand decrease in other real estate expense, and a $417 thousand decline in personnel expense, primarily related to lower accruals for incentive compensation and for the Company's self-insured medical plan. Combined, the Company's revenue growth and active expense management resulted in an efficiency ratio of 47.31% for the third quarter 2009 compared to 56.16% for the third quarter 2008.
Exceptionally strong core deposit growth
During the third quarter 2009, the Company continued the strong core deposit growth experienced during the first half of the year. At September 30, 2009, period-end core deposits totaled $751.7 million, up $45.8 million over period-end core deposits at June 30, 2009, and for the first nine months of 2009 core deposits were up $135.8 million, an annualized growth rate of 29.5%. Quarterly average core deposit figures, a measure which reduces daily deposit volatility, show similar strong results with third quarter 2009 average core deposits of $724.8 million, an increase of $43.6 million over the second quarter 2009 average. Deposit growth occurred in all three of the bank's primary markets, but was most evident in Portland and Eugene.
Loan growth continued to abate from the prior year's activity reflecting continuing weak economic conditions and management's planned contraction in the residential construction and land development portfolios. Since the end of the third quarter 2008, these portfolios have contracted $47.0 million, or 39% to $73.7 million, and now constitute 7.7% of total gross loans versus 13.0% at the end of third quarter 2008. At September 30, 2009, period-end gross loans declined by approximately $3.1 million from the end of the second quarter 2009 and have increased just $2.1 million during the first nine months of the current year.
Improvement in nonperforming assets, provisioning, and loan statistics
Total nonperforming assets at September 30, 2009 were $30.1 million, a decrease of $2.1 million from June 30, 2009. Nonperforming assets represent 2.62% of total assets at September 30, 2009 compared to 2.85% at the end of the prior quarter. The quarter's decline in nonperforming assets was due to the successful resolution of a number of problem loans, the sale of other real estate assets, and recognized charge-offs on certain other loans. Nonperforming assets at September 30, 2009 consist of $25.9 million of loans on nonaccrual status and $4.2 million in other real estate owned. Nonperforming loans continue to be centered in the Company's residential construction and land development portfolios. Other real estate owned consists primarily of completed consumer residential construction properties and individual residential building lots.
"Through the concerted efforts and active management by our employees, we were successful in reducing the level of our nonperforming assets and are cautiously optimistic that these trends may continue, recognizing however the uncertain economic conditions prevailing in the real estate markets in which we operate," said Roger Busse, president and chief operating officer. "Our proactive and timely approach to dealing with loan problems together with our solid underwriting practices and focus on quality portfolio niche segments, such as dental lending, will continue to differentiate us in today's challenging environment," added Busse.
As a result of continued weakness in the Pacific Northwest economy and residential real estate markets, the Company's third quarter 2009 provision for loan losses remained elevated but significantly lower than the previous quarter. The third quarter provision for loan losses was $8.3 million, compared to $19.2 million in second quarter 2009. During the third quarter, the Company recognized net loan charge offs of $8.6 million. The Company continued to maintain a historically high unallocated allowance for loan losses; and at September 30, 2009, the unallocated portion of the allowance was 8% compared to 7% at June 30, 2009. The allowance for loan losses as a percentage of outstanding loans at September 30, 2009 was 1.91%, compared to 1.94% and 1.15% at June 30, 2009 and September 30, 2008, respectively.
Improved capital levels
The Company's total risk-based capital ratio, a regulator defined indicator of strength, was 11.87% at September 30, 2009, which exceeds the "well- capitalized" minimum designation of 10.00%, and improved over the prior quarter's total risk-based capital ratio of 11.71%.
Third quarter highlights: -- Returned to profitability. -- Third quarter core earnings, earnings before taxes and loan loss provision, increased 33.5% over the same 2008 period. -- Achieved an efficiency ratio for the quarter of 47.31%. -- Strong quarterly core deposit growth of $45.8 million, an annualized growth rate of 29.5% since year-end 2008. -- Risk based capital ratio of 11.87%, up from 11.71% at June 30, 2009, and up from 10.81% at September 30, 2008, and above the "well-capitalized" designation. -- Increased an already strong and stable net interest margin to 5.19%. -- Reduced level of nonperforming assets by $2.1 million from the end of the prior quarter. -- Completed the regularly scheduled FDIC safety and soundness examination. Conference Call and Audio Webcast:
Management will conduct a live conference call and audio Webcast for interested parties relating to its results for the third quarter 2009, on Thursday, October 8th, 2009, at 5:00 p.m. Eastern Time / 2:00 p.m. Pacific Time . To listen to the conference call, interested parties should call (866) 292-1418. The Webcast will be available via Pacific Continental's Web site (http://www.therightbank.com/). To listen to the live audio Webcast, click on the Webcast presentation link on the Company's home page a few minutes before the presentation is scheduled to begin.
An audio Webcast replay will be available within twenty-four hours following the live Webcast and archived for one year on the Pacific Continental Website. Any questions regarding the conference call presentation or Webcast should be directed to Maecey Castle, vice president and director of corporate communications, at (541) 686-8685.
About Pacific Continental Bank
Pacific Continental Bank, the operating subsidiary of Pacific Continental Corporation, delivers highly personalized services through fourteen banking offices in Oregon and Washington. Pacific Continental, with $1.2 billion in assets, has established one of the most unique and attractive metropolitan branch networks in the Pacific Northwest with offices in three of the region's largest markets including Seattle, Portland, and Eugene. Pacific Continental targets the banking needs of community-based businesses, professional service providers and nonprofit organizations; additionally the bank provides private banking services.
Since its founding in 1972 Pacific Continental Bank has been honored with numerous awards from business and community organizations: in June 2009, for the ninth consecutive year, The Seattle Times named Pacific Continental to its "Northwest 100" ranking of top publicly rated companies in the Pacific Northwest; in February 2009, Oregon Business magazine recognized Pacific Continental as the top ranked financial institution to work for in the publication's large company category, marking it the ninth consecutive year Pacific Continental has been recognized as one of the Top 100 Companies to Work for In Oregon; and in December 2008, for the second consecutive year, the Portland Business Journal recognized Pacific Continental Bank as One of the Ten Most Admired Companies in Oregon.
Pacific Continental Corporation's shares are listed on the NASDAQ Global Select Market under the symbol "PCBK" and are a component of the Russell 2000 Index. Supplementary information about Pacific Continental can be found online at http://www.therightbank.com/
Forward-Looking Statement Safe Harbor
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected, including but not limited to the following: the high concentration of loans of the company's banking subsidiary in commercial and residential real estate lending; adverse economic trends in the United States and the markets we serve affecting the Bank's borrower base; a continued decline in the housing and real estate market; a continued increase in unemployment or sustained high levels of unemployment; continued erosion or sustained low levels of consumer confidence; changes in the regulatory environment and increases in associated costs, particularly ongoing compliance expenses and resource allocation needs; vendor quality and efficiency; the company's ability to control risks associated with rapidly changing technology both from an internal perspective as well as for external providers; increased competition among financial institutions; fluctuating interest rate environments; a tightening of available credit and other risks and uncertainties discussed in the sections titled "Risk Factors", "Business" and "Management Discussion and Analysis of Financial Condition and Results of Operations", as applicable, from Pacific Continental's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management's current estimates, projections, expectations and beliefs. Pacific Continental Corporation undertakes no obligation to publicly revise or update the forward-looking statements to reflect events or circumstances that arise after the date of this release. This statement is included for the express purpose of invoking PSLRA's safe harbor provisions.
PACIFIC CONTINENTAL CORPORATION CONSOLIDATED INCOME STATEMENTS Amounts in $ 000's, Except for Per Share Data (Unaudited) Three Months Nine Months Ended Ended September 30, September 30, 2009 2008 2009 2008 ---- ---- ---- ---- Interest and dividend income Loans $15,658 $16,019 $46,308 $47,181 Securities 1,322 647 3,484 2,070 Dividends on Federal Home Loan Bank stock - 9 - 132 Federal funds sold & Interest- bearing deposits with banks 2 5 4 18 - - - -- 16,982 16,680 49,796 49,401 ------ ------ ------ ------ Interest expense Deposits 2,481 2,696 7,080 7,844 Federal Home Loan Bank & Federal Reserve borrowings 633 1,463 2,005 4,552 Junior subordinated debentures 128 127 380 373 Federal funds purchased 23 91 76 555 --- --- --- --- 3,265 4,377 9,541 13,324 ----- ----- ----- ------ Net interest income 13,717 12,303 40,255 36,077 Provision for loan losses 8,300 1,050 29,000 2,550 ----- ----- ------ ----- Net interest income after provision for loan losses 5,417 11,253 11,255 33,527 ----- ------ ------ ------ Noninterest income Service charges on deposit accounts 472 421 1,414 1,217 Other fee income, principally bankcard 461 470 1,310 1,378 Loan servicing fees 17 20 54 68 Mortgage banking income 98 72 366 291 Other noninterest income 61 64 182 273 --- --- --- --- 1,109 1,047 3,326 3,227 ----- ----- ----- ----- Noninterest expense Salaries and employee benefits 3,810 4,670 12,908 13,705 Premises and equipment 1,030 995 3,118 2,967 Bankcard processing 135 143 381 421 Business development 333 315 1,247 966 FDIC insurance assessment 291 130 1,508 388 Other real estate expense 32 2 597 32 Other noninterest expense 1,383 1,242 3,951 3,648 ----- ----- ----- ----- 7,014 7,497 23,710 22,127 ----- ----- ------ ------ Income (loss) before provision (benefit) for income taxes (488) 4,803 (9,129) 14,627 Provision (benefit) for income taxes (767) 1,783 (4,226) 5,521 ---- ----- ------ ----- Net income (loss) $279 $3,020 $(4,903) $9,106 ==== ====== ======= ====== Earnings (loss) per share Basic $0.02 $0.25 $(0.38) $0.76 ----- ----- ------ ----- Diluted $0.02 $0.25 $(0.38) $0.76 ----- ----- ------ ----- Weighted average shares outstanding Basic 12,873 11,978 12,852 11,960 Common stock equivalents attributable to stock- based awards 36 55 - 60 --- --- --- --- Diluted 12,909 12,033 12,852 12,020 ====== ====== ====== ====== PERFORMANCE RATIOS Return on average assets 0.10% 1.16% -0.59% 1.21% Return on average equity (book) 0.92% 10.68% -5.25% 10.97% Return on average equity (tangible) (1) 1.14% 13.42% -6.42% 13.86% Net interest margin 5.19% 5.08% 5.18% 5.18% Efficiency ratio (2) 47.31% 56.16% 54.40% 56.30% PACIFIC CONTINENTAL CORPORATION CONSOLIDATED BALANCE SHEETS Amounts in $ 000's (Unaudited) September 30, September 30, 2009 2008 ---- ---- ASSETS Cash and due from banks $17,624 $21,510 Interest-bearing deposits with banks 266 290 --- --- Total cash and cash equivalents 17,890 21,800 Securities available-for-sale 115,585 49,848 Loans held for sale 453 447 Loans, less allowance for loan losses 940,754 913,430 Interest receivable 4,110 4,096 Federal Home Loan Bank stock 10,652 9,198 Property, net of accumulated depreciation 20,132 21,000 Goodwill and other intangible assets 22,737 22,960 Deferred tax asset 6,301 3,231 Taxes receivable 4,707 - Other real estate owned 4,247 3,186 Other assets 2,940 2,688 ----- ----- Total assets $1,150,508 $1,051,884 ========== ========== LIABILITIES AND STOCKHOLDERS' EQUITY Deposits Noninterest-bearing demand $196,320 $178,632 Savings and interest-bearing checking 461,723 413,688 Time $100,000 and over 71,526 61,850 Other time 96,951 57,470 ------ ------ Total deposits 826,520 711,640 Federal funds purchased 10,000 38,460 Federal Home Loan Bank and Federal Reserve borrowings 181,000 176,000 Junior subordinated debentures 8,248 8,248 Accrued interest and other payables 4,430 4,338 ----- ----- Total liabilities 1,030,198 938,686 --------- ------- Stockholders' equity Common stock, 25,000 shares authorized 90,522 78,900 Retained earnings 29,773 35,140 Accumulated other comprehensive loss 15 (842) --- ---- 120,310 113,198 ------- ------- Total liabilities and stockholders' equity $1,150,508 $1,051,884 ========== ========== CAPITAL RATIOS Total capital (to risk weighted assets) 11.87% 10.81% Tier I capital (to risk weighted assets) 10.61% 9.73% Tier I capital (to leverage assets) 9.65% 9.62% Tangible common equity (to tangible assets) 8.65% 8.77% Tangible common equity (to risk weighted assets) 9.74% 8.91% OTHER FINANCIAL DATA Shares outstanding at end of period 12,873 11,994 Stockholder's equity (tangible) (1) $97,573 $90,238 Book value $9.35 $9.44 Tangible book value (1) $7.58 $7.52 PACIFIC CONTINENTAL CORPORATION SELECTED OTHER FINANCIAL INFORMATION AND RATIOS Amounts in $ 000's (Unaudited) Three Months Ended Nine Months Ended ------------------ ----------------- September 30, September 30, September 30, September 30, 2009 2008 2009 2008 ---- ---- ---- ---- LOANS BY TYPE Real estate secured loans: Permanent Loans: Multifamily residential $67,654 $53,925 Residential 1-4 family 95,761 70,728 Owner-occupied commercial 200,569 184,961 Non-owner- occupied commercial 182,521 145,415 ------- ------- Total permanent real estate loans 546,505 455,029 Construction Loans: Multifamily residential 20,994 29,903 Residential 1-4 family 42,813 86,563 Commercial real estate 40,914 54,648 Commercial bare land and acquisition & development 28,907 33,567 Residential bare land and acquisition & development 30,879 34,111 Other 5,198 7,894 ----- ----- Total construction real estate loans 169,705 246,686 Total real estate loans 716,210 701,715 Commercial loans 229,881 210,054 Consumer loans 7,125 7,998 Other loans 7,420 6,005 ----- ----- Gross loans 960,636 925,772 Deferred loan origination fees (1,534) (1,670) ------ ------ 959,102 924,102 Allowance for loan losses (18,348) (10,672) ------- ------- $940,754 $913,430 ======== ======== Real estate loans held for sale $453 $447 ALLOWANCE FOR LOAN LOSSES Balance at beginning of period $18,680 $9,896 $10,980 $8,675 Provision for loan losses 8,300 1,050 29,000 2,550 Loan charge offs (8,822) (310) (21,872) (723) Loan recoveries 190 36 240 170 --- --- --- --- Net charge offs (8,632) (274) (21,632) (553) ------ ---- ------- ---- Balance at end of period $18,348 $10,672 $18,348 $10,672 ======= ======= ======= ======= NONPERFORMING ASSETS Nonaccrual loans Real estate secured loans: Permanent Loans: Multifamily residential $- $- Residential 1-4 family 1,283 60 Owner-occupied commercial 2,204 - Non-owner- occupied commercial - - --- --- Total permanent real estate loans 3,487 60 Construction Loans: Multifamily residential - - Residential 1-4 family 2,817 1,277 Commercial real estate 7,551 - Commercial bare land and acquisition & development - 1,660 Residential bare land and acquisition & development 8,141 - Other - - --- --- Total construction real estate loans 18,509 2,937 Total real estate loans 21,996 2,997 Commercial loans 4,036 319 Consumer loans - - Other loans - - --- --- Total nonaccrual loans 26,032 3,316 90 days past due and accruing interest - - Total nonperforming loans 26,032 3,316 ------ ----- Nonperforming loans guaranteed by government (136) (239) Net nonperforming loans 25,896 3,077 ------ ----- Foreclosed assets 4,247 3,186 ----- ----- Total nonperforming assets, net of guaranteed loans $30,143 $6,263 ======= ====== LOAN QUALITY RATIOS Allowance for loan losses as a percentage of total loans outstanding, excluding of loans held for sale 1.91% 1.15% Allowance for loan losses as a percentage of total nonperforming loans, net of government guarantees 70.85% 346.83% Net loan charge offs (recoveries) as a percentage of average loans, annualized 3.58% 0.12% 3.01% 0.08% Nonperforming loans as a percentage of total loans 2.70% 0.33% Nonperforming assets as a percentage of total assets 2.62% 0.60% PACIFIC CONTINENTAL CORPORATION SELECTED OTHER FINANCIAL INFORMATION AND RATIOS (Continued) Amounts in $ 000's (Unaudited) Three Months Ended Nine Months Ended ------------------ ----------------- September 30, September 30, September 30, September 30, 2009 2008 2009 2008 ---- ---- ---- ---- BALANCE SHEET AVERAGES Loans $957,602 $913,356 $961,704 $876,491 Allowance for loan losses (19,309) (10,115) (14,869) (9,456) ------- ------- ------- ------ Loans, net of allowance 938,293 903,241 946,835 867,035 Securities and short-term deposits 110,217 59,862 91,350 62,932 ------- ------ ------ ------ Earning assets 1,048,510 963,103 1,038,185 929,967 Non-interest- earning assets 78,743 74,112 76,437 72,037 ------ ------ ------ ------ Assets $1,127,253 $1,037,215 $1,114,622 $1,002,004 ========== ========== ========== ========== Interest- bearing core deposits (3) $536,764 $455,363 $506,543 $441,931 Non-interest- bearing core deposits (3) 187,996 171,103 177,047 169,421 ------- ------- ------- ------- Core deposits (3) 724,760 626,466 683,590 611,352 Non-core interest- bearing deposits 84,908 71,799 84,810 51,118 ------ ------ ------ ------ Deposits 809,668 698,265 768,400 662,470 Borrowings 193,841 222,003 217,567 224,504 Other non- interest- bearing liabilities 3,617 4,416 3,802 4,200 ----- ----- ----- ----- Liabilities 1,007,126 924,684 989,769 891,174 --------- ------- ------- ------- Stockholders' equity (book) 120,127 112,531 124,853 110,830 ------- ------- ------- ------- Liabilities and equity $1,127,253 $1,037,215 $1,114,622 $1,002,004 ========== ========== ========== ========== Stockholders' equity (tangible) (1) $97,359 $89,540 $102,030 $87,784 SELECTED MARKET DATA Eugene market loans, net of fees $256,291 $224,327 Portland market loans, net of fees 437,674 423,194 Seattle market loans, net of fees 265,137 276,581 ------- ------- Total loans, net of fees $959,102 $924,102 ======== ======== Eugene market core deposits (3) $480,033 $413,240 Portland market core deposits (3) 162,574 122,310 Seattle market core deposits (3) 109,046 103,889 ------- ------- Total core deposits (3) 751,653 639,439 Other deposits 74,869 72,201 ------ ------ Total $826,522 $711,640 ======== ======== Eugene market core deposits, average (3) $458,122 $400,461 $442,219 $402,132 Portland market core deposits, average (3) 159,670 117,472 137,437 113,364 Seattle market core deposits, average (3) 106,968 108,533 103,934 95,856 ------- ------- ------- ------ Total core deposits, average (3) 724,760 626,466 683,590 611,352 Other deposits, average 84,908 71,799 84,810 51,118 ------ ------ ------ ------ Total $809,668 $698,265 $768,400 $662,470 ======== ======== ======== ======== NET INTEREST MARGIN RECONCILIATION Yield on average loans 6.62% 7.06% 6.54% 7.27% Yield on average securities 4.77% 4.39% 5.11% 4.71% ---- ---- ---- ---- Yield on average earning assets 6.43% 6.89% 6.41% 7.10% Rate on average interest- bearing core deposits 1.57% 1.85% 1.56% 1.94% Rate on average interest- bearing non- core deposits 1.67% 3.21% 1.85% 3.69% ---- ---- ---- ---- Rate on average interest- bearing deposits 1.58% 2.03% 1.60% 2.13% Rate on average borrowings 1.60% 3.01% 1.51% 3.26% ---- ---- ---- ---- Cost of interest- bearing funds 1.59% 2.32% 1.58% 2.48% ---- ---- ---- ---- Interest rate spread 4.84% 4.57% 4.84% 4.62% ---- ---- ---- ---- Net interest margin 5.19% 5.08% 5.18% 5.18% ==== ==== ==== ==== (1) Tangible equity excludes goodwill and core deposit intangible related to acquisitions. (2) Efficiency ratio is noninterest expense divided by operating revenues. Operating revenues are net interest income plus noninterest income. (3) Core deposits include all demand, savings, & interest checking accounts, plus all local time deposits including local time deposits in excess of $100,000.Pacific Continental Corporation
CONTACT: Hal Brown, CEO, or Michael A. Reynolds, Executive Vice
President/CFO, both of Pacific Continental Corporation, +1-541-686-8685,
Web Site: http://www.therightbank.com/
MCLEAN, Va. and SAN DIEGO, Oct. 8 /PRNewswire-FirstCall/ -- Science Applications International Corporation (SAIC) today announced it has formed a strategic alliance with BPL Global, Ltd. (BPLG), a smart grid technology company that develops and deploys solutions to improve the efficiency and reliability of utility networks. As a part of the alliance, SAIC has a $10 million minority stake in BPLG.
Working together, SAIC and BPLG will focus on addressing the entire life cycle of utility customer needs through the intelligent transformation of electrical network and utility operations. From strategy consulting to large-scale solution deployments, SAIC and BPLG will market a holistic approach to addressing energy, environment, infrastructure and sustainability challenges. The alliance couples SAIC's expertise in utility engineering, asset consulting, program management, systems integration, design/build, renewable energy, cybersecurity, data analytics, and climate science with BPLG's smart grid solutions.
BPLG's solutions include the PowerSG® solution suite, a service-oriented architecture based integration platform supporting solutions that address the energy delivery value chain from the substation to customer premises. BPLG's PowerSG solutions help utilities improve reliability, integrate distributed energy resources, enhance demand management capabilities, monitor critical grid assets, and provide real-time control.
"This investment and our strategic alliance with BPLG represent further strides in SAIC's strategy to provide life-cycle capabilities to the rapidly evolving power industry, following our recent acquisition of R.W. Beck Group, Inc.," said J.T. Grumski, SAIC senior vice president and business unit general manager. "We look forward to integrating a number of SAIC's capabilities into the PowerSG platform and further expanding our support to this growing market."
"We are at an inflection point for the smart grid industry," said Keith Schaefer, CEO of BPL Global. "Stimulus funding in the U.S. and countries around the world has significantly increased the number and size of grid modernization projects. SAIC, with a rich legacy of innovation and strong presence in the electric utility industry, is well positioned to contribute to the development and deployment of smart grid technology on a global scale."
SAIC is a FORTUNE 500® scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The company's approximately 45,000 employees serve customers in the U.S. Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. Headquartered in McLean, Va., SAIC had annual revenues of $10.1 billion for its fiscal year ended January 31, 2009. For more information, visit http://www.saic.com/. SAIC: From Science to Solutions®
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2009, and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
Contact: Melissa Koskovich Laura Luke (703) 676-6762 (703) 676-6533 firstname.lastname@example.org email@example.comSAIC
CONTACT: Melissa Koskovich, +1-703-676-6762,
firstname.lastname@example.org, or Laura Luke, +1-703-676-6533,
email@example.com, both of SAIC
Web Site: http://www.saic.com/
FLINT, Mich., Oct. 8 /PRNewswire-FirstCall/ -- Citizens Republic Bancorp announced today that Martin E. Grunst, senior vice president, treasurer and principal accounting officer, will be leaving effective October 16, 2009 to accept a similar position with a regional financial services company based in the Southwestern United States. Grunst joined Citizens Republic in July 2003.
Citizens also announced today the appointment of Brian D. J. Boike to treasurer and the designation of Joseph C. Czopek to principal accounting officer effective October 16, 2009. Boike will have responsibility for all treasury activities, including management of the company's balance sheet, capital, funding and liquidity. In addition to his responsibilities as corporate controller, Czopek will lead the daily activities of SEC reporting and SOX compliance for the company. Boike and Czopek will report to Charles Christy, executive vice president and chief financial officer.
"We wish Marty well in his new endeavor," said Cathleen Nash, president and chief executive officer for Citizens Republic Bancorp. "During his tenure with Citizens, Marty built a strong treasury department and was instrumental in helping the company strengthen its capital and liquidity position over the past two years."
"We are pleased to have the internal talent to fill the roles that Marty will vacate," continued Nash. "Having served as the asset/liability manager for Citizens for four years, Brian is well qualified to lead our treasury activities. Joe's depth of experience in corporate accounting and financial reporting make him a natural fit as principal accounting officer."
Boike joined Citizens in 2004 as a treasury analyst. He became the asset/liability manager in 2005. Prior to joining Citizens, Boike completed coursework and field exams for the Doctoral Program in Economics at Boston University in Boston, Massachusetts. He earned a Master of Arts in Political Economy from Boston University in May 2003, and he received a Bachelor of Arts in Economics from the University of Michigan in Ann Arbor, Michigan in May 1998. Boike became a Chartered Financial Analyst in 2007.
Czopek joined Citizens in March 2009 as assistant controller, and was named corporate controller in July. Previously, he was chief financial officer at Ace Holding Company and Ace Mortgage Funding in Indianapolis, Indiana. In addition, Czopek held financial positions with Oak Street Mortgage, Bank One Corporation, Bank One Leasing Corp, Household International and Subsidiaries, and KPMG Peat Marwick. Czopek earned a Master of Management degree from J.L. Kellogg Graduate School of Management, Northwestern University in 1992. He received a Bachelor of Science degree in Accounting in 1979 from DePaul University. He is a Certified Public Accountant.
Citizens Republic Bancorp is a diversified financial services company providing a wide range of commercial, consumer, mortgage banking, trust and financial planning services to a broad client base. Citizens Republic serves communities in Michigan, Wisconsin and Ohio as Citizens Bank and in Iowa as F&M Bank, with 231 offices and 267 ATMs. Citizens Republic Bancorp is the largest bank holding company headquartered in Michigan with roots dating back to 1871. Citizens Republic is the 42nd largest bank holding company headquartered in the United States with $12.3 billion in assets. More information about Citizens Republic Bancorp is available at http://www.citizensbanking.com/.Photo: http://www.newscom.com/cgi-bin/prnh/20050421/DETH014LOGO Citizens Republic Bancorp, Inc.
CONTACT: Investors, Charles D. Christy, EVP & Chief Financial Officer,
+1-810-237-4200, Charlie.Christy@citizensbanking.com, or Kristine D. Brenner,
Director of Investor Relations, +1-810-257-2506,
Kristine.Brenner@citizensbanking.com, Media, Brian Smith, Public Relations,
Web Site: http://www.citizensbanking.com/
TULSA, Okla., Oct. 8 /PRNewswire-FirstCall/ -- The board of directors of the general partner of ONEOK Partners, L.P. today announced that it has increased the partnership's quarterly cash distribution to $1.09 per unit from $1.08 per unit, effective for the third quarter 2009, resulting in an annualized cash distribution of $4.36 per unit. The distribution is payable Nov. 13, 2009, to unitholders of record as of Oct. 30, 2009.
"The distribution increase reflects the benefit of our recently completed growth projects, which have increased our fee-based earnings, as well as an improved capital market environment," said John W. Gibson, chairman and chief executive officer of the general partner of ONEOK Partners. "As volumes behind these projects continue to ramp up, we anticipate additional opportunities to increase our distributions in the future."
ONEOK Partners has increased its distribution by more than 36 percent since April 2006, when a wholly owned subsidiary of ONEOK, Inc. became general partner.
ONEOK Partners, L.P. is one of the largest publicly traded master limited partnerships and is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation's premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent and Rocky Mountain regions with key market centers. Its general partner is a wholly owned subsidiary of ONEOK, Inc. , a diversified energy company, which owns 45.1 percent of the partnership. ONEOK is one of the largest natural gas distributors in the United States, and its energy services operation focuses primarily on marketing natural gas and related services throughout the U.S.
For more information, visit the Web site at http://www.oneokpartners.com/.
Some of the statements contained and incorporated in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements relate to financial adjustments in connection with the accelerated share repurchase program and other matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements in certain circumstances.
OKS-FD Analyst Contact: Andrew Ziola 918-588-7163 Media Contact: Brad Borror 918-588-7582ONEOK Partners, L.P.
CONTACT: Analysts, Andrew Ziola, +1-918-588-7163, or Media, Brad Borror,
+1-918-588-7582, both of ONEOK Partners, L.P.
Web Site: http://www.oneokpartners.com/
NEW YORK, Oct. 8 /PRNewswire-FirstCall/ -- Zhongpin Inc. ("Zhongpin", Nasdaq: HOGS), a leading meat and food processing company in the People's Republic of China, today announced that it intends to offer shares of its common stock in a public offering. Piper Jaffray & Co. is acting as the sole book-running manager for the offering and Susquehanna Financial Group, LLLP is acting as co-manager.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on June 18, 2009 and amended on July 14, 2009. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of such state. When available, copies of the prospectus supplement relating to this offering may be obtained by contacting Piper Jaffray & Co. at 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402 or by calling (800) 747-3924.
Zhongpin Inc. is a meat and food processing company that specializes in pork, pork products, vegetables, and fruits in China. Its distribution network in China covers 20 provinces plus Beijing, Shanghai, Tianjin, and Chongqing and includes more than 3,000 retail outlets. Zhongpin's export markets include the European Union and Southeast Asia. For more information about Zhongpin, please visit Zhongpin's website at http://www.zpfood.com/.
For more information, please contact: Zhongpin Inc. Mr. Sterling Song (English and Chinese) Investor Relations Manager Telephone +86 10 8286 1788 extension 101 in Beijing firstname.lastname@example.org Mr. Warren (Feng) Wang (English and Chinese) Chief Financial Officer Telephone +86 10 8286 1788 extension 104 in Beijing email@example.com Christensen Mr. Yuanyuan Chen (English and Chinese) Telephone +86 10 5971 2001 in Beijing Mobile +86 139 2337 7882 in Beijing firstname.lastname@example.org Mr. Tom Myers (English) Mobile +86 139 1141 3520 in Beijing email@example.com Ms. Kathy Li (English and Chinese) Telephone +1 212 618 1978 in the US firstname.lastname@example.orgZhongpin Inc.
CONTACT: Mr. Sterling Song (English and Chinese),Investor Relations
Manager, +86 10 8286 1788 extension 101 in Beijing, email@example.com, or Mr.
Warren (Feng) Wang (English and Chinese), Chief Financial Officer, +86 10 8286
1788 extension 104 in Beijing, firstname.lastname@example.org, both for Zhongpin
Inc.; or Mr. Yuanyuan Chen (English and Chinese), +86 10 5971 2001 in Beijing,
Mobile +86 139 2337 7882 in Beijing, email@example.com, or Mr. Tom Myers
(English), +86 139 1141 3520 in Beijing, firstname.lastname@example.org, or Ms.
Kathy Li (English and Chinese), +1-212-618-1978 in the US,
email@example.com, all of Christensen
Web site: http://www.zpfood.com/
VANCOUVER, Oct. 8 /PRNewswire-FirstCall/ -- TimberWest invites investors and media to listen-in on its third quarter conference call with financial analysts. TimberWest President and CEO Paul McElligott and CFO Bev Park will discuss the Company's third quarter results, which will be released at the end of the working day, Thursday, October 22, 2009.
The conference call will take place on Friday, October 23, 2009 at 9:00 am (Pacific). The dial-in phone number is 1-800-918-9476. To access the call at a later time, please dial 1-800-558-5253 and enter code 21438755. The recording will be available until November 6, 2009.
TimberWest will also broadcast the conference call live on the internet via our website home page at http://www.timberwest.com/. The webcast will be archived and available for listening for an additional 90 days.
TimberWest Stapled Units are listed on the Toronto Stock Exchange under the symbol "TWF.UN".TimberWest Forest Corp.
CONTACT: Bev Park, Executive Vice President and Chief Financial Officer,
Telephone: (604) 654-4600, Facsimile: (604) 654-4662, Email:
firstname.lastname@example.org, Visit our website at: http://www.timberwest.com/
MINNEAPOLIS, Oct. 8 /PRNewswire-FirstCall/ -- Alliant Techsystems , the prime contractor for the first stage of the Ares I launch vehicle, along with NASA, the U.S. Army, and United Space Alliance (USA), successfully conducted the third in a series of four Ares I main parachute drop-tests. These tests aid the development of the deceleration system for the Ares I First Stage solid rocket motor. The test was conducted at the Army's Yuma Proving Grounds.
The test consisted of extracting a 72,000 pound test payload from a C-17 aircraft flying at 25,000 feet, tying the record for largest single payload pulled from a C-17. Following the extraction, a 60,000 pound test article (jumbo dart) was separated from the pallet. The jumbo dart was then allowed to accelerate to the desired conditions before the 150-foot-diameter main parachute was deployed. The objective of this test was to develop and measure a load on the main parachute similar to that expected during Ares I flight.
"This is yet another successful milestone for the Ares I program, which has been steadily progressing over the past four years," said Mike Kahn, executive vice president of ATK Space Systems. "We are looking forward to seeing this parachute system function in just a matter of weeks during the launch of Ares I-X."
The newly-developed Ares I parachute system is already packed and ready to be used operationally during the flight test of Ares I-X, a full scale launch vehicle with an inert upper stage. Ares I-X is one of many systems that will provide valuable flight data that will aid in finalizing the design of Ares I.
The Ares I launch vehicle, which is slated to replace the Space Shuttle, utilizes a five-segment reusable solid rocket developed from the twin four-segment boosters used to launch the Space Shuttle. Like the recovery system for the shuttle boosters, the Ares first stage recovery system will consist of pilot and drogue chutes that reorient and decelerate the used solid rocket motor prior to deploying a cluster of three main parachutes. Due to the added weight of the extra segment on Ares I and the higher apogee reached by the Ares first stage, the main parachutes for the Ares recovery system were designed to be 20% larger than the one currently used on the shuttle boosters. The parachutes were designed and manufactured by USA at the Kennedy Space Center under a subcontract to ATK.
To date, ATK and its partners have successfully conducted three pilot, two drogue, three single main, and one main cluster parachute drop tests. Four additional parachute drop tests are planned over the next two years. Ares I-X will be the next test of the entire system, followed by further testing next spring.
ATK is a premier aerospace and defense company with more than 18,000 employees in 22 states, Puerto Rico and internationally, and revenues of approximately $4.8 billion. News and information can be found on the Internet at http://www.atk.com/.
Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: the challenges and assumptions related to the development of next-generation human space launch capabilities; changes in governmental spending, budgetary policies and product sourcing strategies; the company's competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.
Media Contact: Investor Contact: Trina Patterson Jeff Huebschen Phone: 801-699-0943 Phone: 952-351-2929 E-mail: email@example.com E-mail: firstname.lastname@example.orgATK
CONTACT: Media, Trina Patterson, +1-801-699-0943,
email@example.com, or Investors, Jeff Huebschen, +1-952-351-2929,
firstname.lastname@example.org, both of ATK
Web Site: http://www.atk.com/
SCOTTS VALLEY, Calif., Oct. 8 /PRNewswire-FirstCall/ -- Seagate Technology today announced it will report fiscal first quarter 2010 financial results on Tuesday, October 20, 2009, after the close of the market. A subsequent conference call for the investment community will take place at 2:00 p.m. Pacific Time.
The conference call can be accessed online at http://www.seagate.com/investors or by telephone as follows:
USA: (800) 591-6945 International: (617) 614-4911 Participant Passcode: 40885241 Replay
A replay will be available beginning October 20 at 6:00 p.m. Pacific Time. The replay can be accessed through Seagate's website at http://www.seagate.com/investors
Seagate is the worldwide leader in hard disk drives and storage solutions. Learn more at seagate.com.Seagate Technology
CONTACT: Investor Relations, Rod Cooper, +1-831-439-2371,
email@example.com, or Media Relations, Brian Ziel, +1-831-439-5429,
firstname.lastname@example.org, both of Seagate Technology
Web Site: http://seagate.com/
ISLANDIA, N.Y., Oct. 8 /PRNewswire-FirstCall/ -- CA, Inc. today announced that it will host a webcast and conference call at 4:30 p.m. ET on Thursday, October 22, 2009 to discuss its second quarter fiscal year 2010 financial results. The webcast will contain forward-looking statements and other material information.
Individuals can access the webcast at http://ca.com/invest/ or listen to the call at 1-888-437-9315. International participants can listen to the call at 1-719-325-2191.
Supplemental financial information relating to CA's earnings announcement will be available at http://ca.com/invest/ at approximately 4:00 p.m. ET on October 22.
The webcast will be archived on the website. Individuals can access the webcast at http://ca.com/invest/ or listen to the replay at 1-888-203-1112. International participants can listen to the replay at 1-719-457-0820. The passcode is 8305041. The replay will be available at 8 p.m. ET on October 22 through November 5, 2009.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090402/NYTH500LOGO) About CA
CA , the world's leading independent IT management software company, helps customers optimize IT for better business results. CA's Enterprise IT Management solutions for mainframe and distributed computing enable Lean IT -- empowering organizations to more effectively govern, manage and secure their IT operations. For more information, visit http://www.ca.com/.
Connect with CA -- CA Social Media Page -- CA Newsletters -- CA Press Releases -- CA Podcasts Trademarks
Copyright © 2009 CA. All Rights Reserved. One CA Plaza, Islandia, N.Y. 11749. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.
Contacts: Michelle Healy Carol Lu Public Relations Investor Relations (631) 342-4701 (212) 415-6920 email@example.com firstname.lastname@example.orgPhoto: http://www.newscom.com/cgi-bin/prnh/20090402/NYTH500LOGO
CONTACT: Michelle Healy, Public Relations, +1-631-342-4701,
email@example.com, or Carol Lu, Investor Relations, +1-212-415-6920,
Web Site: http://ca.com/
PORTLAND, Ore., Oct. 8 /PRNewswire-FirstCall/ -- Rentrak Corporation , today announced the top ten movies-on-demand (VOD) titles based on consumer transaction rate. Movies-on-demand are transactional (pay-per-purchase) films available through cable and telco providers. This new weekly release will be distributed by Rentrak each Thursday.
According to the company's OnDemand Essentials service, the top ten most-viewed titles, per data collected from September 28 through October 4, 2009 include:
Rentrak Top Ten VOD Titles BOX MPAA OFFICE RANK TITLE STUDIO VOD RELEASE DATE RATING ($M) ---- ----- ------ ---------------- ------ ------- 1 X-Men Origins: Wolverine Fox 09/29/2009 PG-13 179.9 - ------------------------ --- ------------ ----- ----- 2 Ghosts Of Girlfriends Past Warner Bros. 09/22/2009 PG-13 55.3 - -------------------------- ------ ------------ ----- ---- 3 Observe And Report Warner Bros. 09/22/2009 R 24.0 - -------------------------- ------ ------------- - ---- 4 Fighting Universal 09/23/2009 PG-13 23.0 - -------- --------- ------------- ----- ---- 5 Adventureland Buena Vista 09/24/2009 R 16.0 - ------------- ----------- ------------- - ---- 6 Dance Flick Paramount 09/15/2009 PG-13 25.7 - ----------- --------- ------------- ----- ---- 7 Hannah Montana: The Movie Buena Vista 10/02/2009 G 79.6 - ------------------------- ----------- ------------- - ---- 8 Crank 2: High Voltage Lionsgate 09/22/2009 R 13.7 - --------------------- --------- ------------- - ---- 9 Sunshine Cleaning Overture 09/23/2009 R 12.1 - ----------------- -------- ------------- - ---- 10 Away We Go Universal 09/29/2009 R 9.5 -- ---------- --------- ------------- - ---
Source: Rentrak OnDemand Essentials, as dated, rank based on Transaction Rate.
© Rentrak Corporation 2009 -Content in this chart is produced and/or compiled by Rentrak Corporation and its OnDemand Essentials data collection and analytical service, and is covered by provisions of the Copyright Act. The material presented herein is intended to be available for public use. You may reproduce the content of the chart in any format or medium without first obtaining permission, subject to the following requirements: (1) the material must be reproduced accurately; and (2) any publication or issuance of any part of the material to others must acknowledge Rentrak Corporation as the source of the material.
About OnDemand Essentials®
OnDemand Essentials, a service of Rentrak's Advanced Media & Information Division, provides operators, content providers (including broadcast/cable networks, studios) and advertisers with a transactional tracking and reporting system to view and analyze on-demand content. The product is an extension of Rentrak's Essentials suite of business intelligence products customized for the entertainment industry. OnDemand Essentials clients have password protected, near real-time, Web browser-based 24/7 access to on demand consumer usage data at various access levels based on business and privacy rules. A sophisticated toolset aggregates and reports data across multiple vendors in one easy to use report system. Clients using the OnDemand Essentials system are able to instantly analyze and interpret their own business data to identify trends, program and promote more effectively, as well as track their performance against the broader business sector in which they operate.
About Rentrak Corporation
Rentrak Corporation, based in Portland, Oregon, is an information management company serving clients in the media, entertainment, retail and advertising industries. The company's Entertainment Essentials® suite of services is redefining media measurement in the digital broadband era. Entertainment Essentials provides customers with near-real-time, actionable insight into performance of content distributed over a wide variety of modern media technologies. Available by license or subscription, each Entertainment Essentials application allows executives to analyze detailed industry-wide and title-specific data to make decisions that enhance the bottom line and provide competitive advantage. For further information, please visit Rentrak's corporate website at http://www.rentrak.com/.
Contacts: Sallie Olmsted/Amanda Bartz Rentrak Corporation 310-854-8124/8151 .Rentrak Corporation
CONTACT: Sallie Olmsted, +1-310-854-8124, or Amanda Bartz,
+1-310-854-8151, both of Rentrak Corporation
Web Site: http://www.rentrak.com/
LONDON, Oct. 8 /PRNewswire-FirstCall/ -- Greenhill & Co., Inc. , a leading independent investment bank, announced today that Gareth Davies will join the Firm as Managing Director. Mr. Davies will join the Firm's Financing Advisory and Restructuring Group and be based in London.
Mr. Davies, 37, has been a Managing Director in the Restructuring Advisory team at Close Brothers Corporate Finance. Mr. Davies has worked in Financing Advisory and Restructuring at Close Brothers since 1997, having previously qualified as a Chartered Accountant at PricewaterhouseCoopers.
Simon Borrows, Co-Chief Executive Officer of Greenhill, said, "Gareth is another important senior recruit to our Financing Advisory and Restructuring Group. This addition follows the recent recruitment in New York of Andy Kramer, former Head of Restructuring in the Americas for UBS. The Firm has been busy giving independent advice to companies on a variety of restructuring matters this year, demonstrated by our recent work for Bearingpoint, Chrysler, Fleetwood Enterprises, NCI Building Systems, U.S. Shipping and the U.S. Pension Benefit Guaranty Corporation in respect of the Delphi and Lyondell Basell bankruptcies. Likewise, we have been active in advising on financings apart from restructurings, including recent assignments for Inchcape, Ladbrokes, Rexam and Shanks Group in the UK. We believe that opportunities for us both in complex restructurings and in other financings will continue to grow, and both our Financing Advisory and Restructuring team and many of our industry sector specialists are focused on these opportunities."
Greenhill & Co., Inc. is a leading independent investment bank that provides financial advice on significant mergers, acquisitions, restructurings and other financial matters; assists private funds in raising capital from investors; and manages merchant banking funds. It acts for clients located throughout the world from its offices in New York, London, Frankfurt, Toronto, Tokyo, Chicago, Dallas, Houston, Los Angeles and San Francisco.
Contact: Simon Borrows Co-Chief Executive Officer Greenhill & Co., Inc. +44 20 7198 7400Greenhill & Co., Inc.
CONTACT: Simon Borrows, Co-Chief Executive Officer, Greenhill & Co.,
Inc., +44 20 7198 7400
NEW YORK, Oct. 8 /PRNewswire-FirstCall/ -- IAC will audiocast a conference call to discuss its third quarter financial results and certain forward-looking information on Tuesday, October 27, 2009, at 11:00 a.m. Eastern Time (ET). IAC will issue a press release reporting results before the market opens on Tuesday, October 27th.
The live audiocast and replay will be open to the public at http://www.iac.com/Investors.IAC
CONTACT: Lisa Jaffa, IAC Investor Relations, +1-212-314-7400, or Leslie
Cafferty, IAC Corporate Communications, +1-212-314-7251
Web Site: http://www.iac.com/
NEBRASKA CITY, Neb., Oct. 8 /PRNewswire/ -- As part of its one-year anniversary celebration of the official launch of the Tree Campus USA program, the Arbor Day Foundation and Toyota will plant trees on five college campuses across the United States this fall. The first tree-planting event will be held at the University of Maryland on Sunday, Oct. 11.
In the fall of 2008, the Arbor Day Foundation started the Tree Campus USA program to recognize colleges and universities that practice sound campus forestry. The aim of the program is to honor college campuses and the leaders of their surrounding communities for promoting healthy urban forest management and engaging the campus community in environmental stewardship.
Since its inception, Tree Campus USA has been supported by a total of $1.3 million in grants from Toyota.
During the initial year of Tree Campus USA, the Arbor Day Foundation honored 29 colleges and universities that met the program's standards.
"Teaming up with Toyota to plant trees on college campuses across America is the perfect way to celebrate a successful first year for Tree Campus USA," said John Rosenow, chief executive and founder of the Arbor Day Foundation. "Tree Campus USA has already encouraged students and volunteers to work together for the benefit of their community. Tree Campus USA will have a lasting impact because it will inspire people to take care of many wonderful campus forests."
Tree Campus USA tree-planting events this fall will be held at the University of Maryland, Duke University, Cornell University, Tulane University and the University of Washington. About 400 trees will be planted during these events.
Schools are required to meet five core standards of tree care and community engagement in order to be recognized as a Tree Campus USA college or university. Those standards are: establishing a campus tree advisory committee; evidence of a campus tree-care plan; verification of dedicated annual expenditures on the campus tree plan; involvement in an Arbor Day observance; and the institution of a service-learning project aimed at engaging the student body.
"Toyota has been a proud partner of the Arbor Day Foundation since 2001," said Patricia Pineda, group vice president of Toyota Motor North America. "The success of the first year of Tree Campus USA truly shows how the program is meeting the needs of the next generation of environmental stewards."
More information about the Tree Campus USA program is available at http://www.arborday.org/TreeCampusUSA.
About the Arbor Day Foundation: The Arbor Day Foundation is a nonprofit conservation organization of nearly one million members, with a mission to inspire people to plant, nurture, and celebrate trees. More information on the Foundation and its programs can be found at arborday.org.
Toyota established operations in the United States in 1957 and currently operates 10 manufacturing plants. Toyota is committed to being a good corporate citizen in the communities where it does business and believes in supporting programs with long-term sustainable results. Toyota supports numerous organizations across the country, focusing on education, the environment and safety. Since 1991, Toyota has contributed more than $464 million to philanthropic programs in the U.S.
For more information on Toyota's commitment to improving communities nationwide, visit http://www.toyota.com/community.Arbor Day Foundation
CONTACT: Mark Derowitsch, Public Relations Manager of Arbor Day
Foundation, 1-888-448-7337, firstname.lastname@example.org; or Daniel Sieger,
Manager, Media Relations of Toyota Motor North America, +1-212-715-7493,
Web Site: http://www.arborday.org/
PHILADELPHIA, Oct. 8 /PRNewswire-FirstCall/ -- GlaxoSmithKline today announced that it has reached agreement with the United States Patent and Trademark Office (USPTO) to join the USPTO's motion to dismiss its litigation over Final Regulations published in August 2007 (Triantafyllos Tafas and SmithKline Beecham Corporation, SmithKline Beecham PLC and Glaxo Group Limited vs. David J. Kappos and the United States Patent and Trademark Office). GSK and the USPTO will file a joint motion with the U.S. Court of Appeals for the Federal Circuit to dismiss the litigation and to vacate the previous decision in this case by the U.S. District Court for the Eastern District of Virginia. The USPTO is withdrawing all regulations under dispute.
"We applaud the Patent and Trademark Office for its leadership in deciding to withdraw these rules, which we believe would have harmed innovation across all industries, and specifically would have deprived GSK and other manufacturers of the patent protection necessary to promote medical research and innovation," said Sherry Knowles, Senior Vice President and Chief Intellectual Patent Counsel, GlaxoSmithKline. "We look forward to working with David Kappos, the recently appointed Director of the USPTO, and others at the Patent and Trademark Office to ensure a patent law framework which promotes the investment that is essential to all innovation, and importantly, to discovering, developing and bringing lifesaving medicines to patients."
In October 2007, GSK filed and was granted a motion to preliminarily enjoin the PTO from implementing new rules related to patent applications. Those rules were due to become effective in November 2007. In April 2008, the district court ruled on the merits of GSK's and co-plaintiff Tafas's challenge and permanently enjoined the USPTO from implementing them on the basis that they were substantive in nature and exceeded the USPTO's procedural rulemaking authority. In March 2009, on appeal, a divided panel of the Federal Circuit affirmed that judgment in part, and reversed it in part. In July 2009, the Federal Circuit vacated the divided-panel decision and agreed to hear the matter en banc.
The withdrawal of the Final Regulations means that the patent system that had been in place before this litigation will remain in place.
GlaxoSmithKline - one of the world's leading research-based pharmaceutical and healthcare companies - is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit http://www.gsk.com/.
Cautionary statement regarding forward-looking statements
Under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect GSK' s operations are described under 'Risk Factors' in the 'Business Review' in the company' s Annual Report on Form 20-F for 2008.GlaxoSmithKline
CONTACT: UK Media: Philip Thomson, Stephen Rea, Alexandra Harrison,
Gwenan White, or Claire Brough, all at +020-8047-5502; US Media: Nancy
Pekarek, Mary Anne Rhyne, Kevin Colgan, or Sarah Alspach, all at
+1-919-483-2839; European Analyst/Investor: David Mawdsley, +020-8047-5564, or
Sally Ferguson, +020-8047-5543, or Gary Davies, +020-8047-5503; or US Analyst
Web Site: http://www.gsk.com/
HORSHAM, Pa., Oct. 8 /PRNewswire/ -- Charlie Manuel is a big man in baseball. But it wasn't until after last year's championship run managing Philadelphia's professional baseball team that he realized quite how big. At six feet five inches tall and nearing 300 pounds, Charlie was also managing his Type 2 diabetes while leading his team, and the city of Philadelphia, to its first world championship since 1980. Today, in the midst of another post season, Manuel is 50 pounds lighter and managing his diabetes thanks to the Nutrisystem D program.
(Photo: http://www.newscom.com/cgi-bin/prnh/20091008/NE89702-a ) (Logo: http://www.newscom.com/cgi-bin/prnh/20091008/NE89702LOGO-b )
"Last year's championship was such a huge personal and professional accomplishment," said Mr. Manuel. "But during the victory parade through the streets of Philadelphia, I remember one lady asking for a photo of us together and then immediately showing it to me and I thought, 'Man, I'm BIG!' I looked huge compared to her and in every picture I saw of myself. I knew I had to do something to lose weight."
Compounding his weight loss challenge, managing a championship baseball team means constant travel and a hectic schedule, not to mention stress. As a result, food became a secondary consideration. "In the past I wouldn't think about what I was eating and when. I would go all day in meetings and forget to eat and then eat ballpark food before the game. I tried dieting on my own, but that never worked. I didn't make it a priority and it caught up to me to the point where my doctor told me I had diabetes and put me on medication. That just gave me another list of things to manage like checking my blood sugars and remembering to take my medication."
"Like so many people with diabetes, Charlie was confronted with the complexities of managing diabetes and losing weight," explains Dr. Gary Foster, Director of the Center for Obesity Research and Education of the Temple University School of Medicine. "Counting calories and carbs all while trying to keep your blood sugar in check is quite a challenge. For someone like Charlie, appropriately portioned meals throughout the day provide the structure to lose weight while maintaining his blood sugar levels, without all the mental gymnastics that dieters usually endure."
After seeing other sports celebrities like Dan Marino and Don Shula tout their success on the Nutrisystem program, Charlie decided to give Nutrisystem D a try. The program is specifically designed to help overweight people with Type 2 diabetes lose weight and control their blood sugar. The Nutrisystem D program incorporates more than three decades of scientific research and proven experience on effective weight loss with exercise.
"We are thrilled to support a real hometown hero in his bid to lose weight, stay healthy and manage his type 2 diabetes," said Joe Redling, Chairman and CEO of Nutrisystem. "With more than 24 million American's suffering from diabetes and another 57 million at risk for developing the disease, we know that weight loss is key to managing and avoiding this deadly disease. For millions of people like Charlie who are dealing with diabetes and want to lose weight, Nutrisystem D can be a path to weight loss success and health."
Now Nutrisystem D is part of my everyday routine," explains Mr. Manuel. "I wanted a program specifically designed to support my diabetes and that I could stick to whether on the road or at home. When I travel, I have a microwave sent to my room. I order my salad, fruits and vegetables from room service so I can stay with program. I eat six times a day and never feel hungry. When I do eat out, I know what choices to make and what a real portion is. The best part is, besides losing 50 pounds, I feel better. I look better. Even the umps notice that I've lost weight. I tell my players that I feel like I can still play."
The Nutrisystem D program is based on a low Glycemic Index diet that integrates good carbohydrates into its meal plan. It's also low in fat and high in fiber. The Glycemic Index measures how quickly food is broken down and absorbed by the body, The unique combination of Nutrisystem D helps to keep you feeling fuller longer between meals.
In a three month clinical study conducted at Temple University School of Medicine and recently published in the journal Postgraduate Medicine(1), overweight people with Type 2 diabetes on Nutrisystem D lost as much as 16 times more weight than those following a hospital-directed diet regimen (average weight loss 18 lbs vs 1.3 lbs), while lowering their A1C test scores (a 90-day measure of blood sugar control) by 0.9%. This weight loss was also associated with significant reductions in triglycerides, cholesterol and waist circumference.
Nutrisystem D is based on a structured 28-Day meal plan that is completely customizable. The program features more than 140 gourmet-style selections that emphasize healthful whole grains, as well as low fat and low sodium dishes. Nutrisystem D menu items are designed to be heart healthy with zero trans fat and low sodium. Customers can supplement their Nutrisystem D entrees with grocery-items like fresh fruit, vegetables, salads and low-fat dairy to complete their meals. Nutrisystem D customers also receive a welcome kit which includes a meal planner, a resource guide highlighting Nutrisystem tips and tools for weight loss, and an on-the-go meal planner. Nutrisystem recommends a combination of diet and exercise to lose weight.
Nutrisystem D is a comprehensive weight loss program. It does not treat, cure or prevent diabetes, and is not a substitute for diabetic medications. To learn more about Nutrisystem D, or to sign up for the program visit http://www.nutrisystem.com/D or call 888-671-LEAN.
The Temple University Study: The Effects of a Pre-packaged, Portion Controlled Meal Plan on Weight and Glycemic Control Among Obese Patients with Type 2 Diabetes, was led by Dr. Gary Foster, Director of the Center for Obesity Research and Education at Temple University School of Medicine and Chairman of Nutrisystem's Advisory Board, and was funded through an unrestricted educational grant from Nutrisystem, Inc., Horsham, PA. The Study was published in the Journal of Postgraduate Medicine in September 2009.
About Nutrisystem, Inc.
Nutrisystem, Inc. is a leading provider of weight management products and services. Nutrisystem is sold direct to the consumer through nutrisystem.com for convenient home delivery. The company offers proven nutritionally balanced weight-loss programs designed for women, men, and seniors, as well as the new clinically tested Nutrisystem D plan, formulated specifically to help overweight people with type 2 diabetes who want to lose weight. The Nutrisystem program is based on 35 years of nutrition research and offers a variety of great tasting, satisfying high-fiber, heart healthy, good carbohydrate meals that are low on the Glycemic Index and contain zero trans fats. Nutrisystem is hundreds of dollars cheaper than other weight loss programs, based on a survey by National Business Research Institute (October 2008). The program has no membership fees and provides 24/7 weight management support by trained weight loss coaches and online weight management tools free of charge. In 2009 Nutrisystem was selected as the #1 overall online retailer in the Health and Beauty category and #46 out of the top 500 online retailers overall by Internet Retailer Magazine. For more information or to become a customer visit http://www.nutrisystem.com/ or call 1-877-681-THIN (8446)
(1) Foster, G., et al. The Effects of a Commercially Available Weight Loss Program Among Obese Patients with Type 2 Diabetes: A Randomized Study. Postgraduate Medicine [10.3810/pgm.2009.09.2046]. 2009; 121 (5).Photo: http://www.newscom.com/cgi-bin/prnh/20091008/NE89702-a
CONTACT: Kate Hourihan for Nutrisystem, Inc., +1-617-226-9926,
email@example.com; or Susan McGowan of Nutrisystem, Inc.,
Web Site: http://www.nutrisystem.com/
DEARBORN, Mich., Oct. 8 /PRNewswire-FirstCall/ --
-- Joint advanced research by Ford Motor Company and Auburn University shows that global positioning system (GPS) satellites could potentially monitor a vehicle's motion and communicate with in-car safety systems to help prevent accidents -- Virtual reality tests show that GPS satellites can precisely monitor a vehicle's motion, which could improve the speed and effectiveness of electronic stability control systems. The joint research is now moving into the prototype phase -- The research team will present initial research findings at the Institute of Electrical and Electronics Engineers' International Conference on Systems, Man and Cybernetics in San Antonio, Texas, Oct. 11-14 -- Ford scientists in Dearborn, Mich., are working with researchers at Auburn University's GPS and Vehicle Dynamics laboratory in Auburn, Ala., as part of ongoing research with universities across the country focused on safety and sustainability
A groundbreaking research project by Ford Motor Company and Auburn University shows that global positioning system (GPS) satellites that can "talk" to cars could help prevent serious accidents in the future.
The researchers have found potential for a GPS satellite to act as an early warning system that detects when a vehicle is about to lose control and communicate with the vehicle's stability control systems and other safety features to prevent a rollover or other serious accident.
The research findings will be presented next week at the Institute of Electrical and Electronics Engineers' International Conference on Systems, Man and Cybernetics in San Antonio, Texas, Oct. 11-14.
"A satellite orbiting the earth could someday prevent an auto accident," said Dr. Gerhard Schmidt, Ford's Chief Technical Officer and vice president, Research and Advanced Engineering. "We applaud the Auburn team for these advancements and look forward to working together on the next phase of this research, including developing prototype vehicles."
The project is part of Ford Motor Company's $4 million investment in university research programs in 2009, including 16 safety projects.
Auburn University's GPS and Vehicle Dynamics Laboratory, directed by Dr. David Bevly, received a three-year, $120,000 grant from Ford in 2008 as part of company's University Research Program. The research team is investigating the use of combining GPS and inertial measurement units data to provide precise information on a vehicle's motion. The data could be used to improve performance of a vehicle's electronic stability control system, a computerized technology that improves the safety of a vehicle's stability by detecting and minimizing skids.
"Stability control is one of the most important safety technologies of this decade," said Jeff Rupp, manager, Ford Active Safety Systems Engineering. "Ford is committed to safety leadership, and research partnerships like our work with Auburn help us achieve success."
The project's breakthroughs include developing algorithms combining data from sensors in Ford vehicles with data from GPS receivers. This coordination of data has led to predictive models that can calculate a vehicle's roll angle, sideslip and velocities under various driving conditions.
Ford Motor Company
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 201,000 employees and about 90 plants worldwide, the company's core and affiliated automotive brands include Ford, Lincoln, Mercury and Volvo. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit http://www.ford.com/.Ford Motor Company
CONTACT: Wes Sherwood of Ford Motor Company, +1-313-390-5660,
Web Site: http://www.ford.com/
OMAHA, Neb., Oct. 8 /PRNewswire-FirstCall/ -- Transgenomic, Inc. (OTC Bulletin Board: TBIO). The company announced today that it has licensed a high-sensitivity mutation detection technology called Cold-PCR from the Dana-Farber Cancer Institute (DFCI), Boston, MA. This variation of the standard PCR technology enriches mutations in DNA samples and is a much more sensitive technique for finding low level mutations in tissue and body fluids that are involved with a variety of diseases. Cold-PCR was invented at DFCI by Dr. Mike Makrigiorgos who has demonstrated its effectiveness in enriching for mutations in cancer-related genes in samples where standard DNA sequencing is not sensitive enough to detect these very low concentration somatic DNA mutations. The licensing terms include exclusive rights to commercialize Cold-PCR technology combined with Sanger sequencing as well as all applications for mitochondrial DNA analysis.
Cold-PCR will have applicability in detection of cancer-related mutations where critical mutations are present at a very low percentage compared to normal DNA. Examples would be in blood and urine or where the tissue collected contains mostly normal cells. This would allow clinicians to use less intrusive methods for genetic analysis or allow more efficient use of tumor tissue samples. Additionally the method could enhance the detection of the emergence of cancer-drug resistance mutations, allowing early detection of relapse.
Transgenomic CEO Craig Tuttle noted: "We believe that Cold-PCR is a critical addition to our high-sensitivity mutation detection portfolio of cutting edge technologies. It will allow us to continue offering affordable, state-of-the-art solutions to challenging areas of genetic analysis and, we hope, allow us to be able to screen patient blood for early detection of cancer, detect cancer drug resistance or relapse earlier as well as expand our mitochondrial DNA analysis toolbox. We have long wanted a technology that would permit us to screen patients earlier in their development of cancer and we hope that Cold-PCR provides us the sensitivity and analytical accuracy to achieve this goal. Discovering cancers at a much earlier phase of development will have a huge impact on cancer diagnosis and treatment."
"During our option period we tested the feasibility of Cold-PCR and developed practical laboratory improvements to the technology," said Dr. Eric Kaldjian, CSO at Transgenomic. "We demonstrated reproducible 30 - 50 fold enrichment of mutant cancer gene DNA, without needing any a-priori information on the position of the mutation. What this means is that one mutant DNA molecule in a hundred is effectively changed to one in two. As a result, we expect that Cold-PCR has significant applications with standard Sanger sequencing methods. Combining Cold-PCR with Transgenomic's WAVE DHPLC and Surveyor Nuclease products may have the potential to detect one mutant copy of DNA out of as many as a thousand normal copies and the sensitivity is likely to keep improving. This will be valuable in cancer-related mutation detection of free DNA in blood and body fluids and in producing a mutation profile of primary tumors to predict resistance to targeted therapies. It could also have application in analysis of mitochondrial DNA mutations, which can be present at very low levels."
"We are delighted to be able to develop jointly the application of Cold-PCR to Transgenomic's existing technologies" said Dr. Mike Makrigiorgos, Director of Medical Physics and Biophysics at Dana-Farber and an Associate Professor of Radiation Oncology at Harvard Medical School. "Together they promise a significant solution to high sensitivity detection of somatic mutations that are key to cancer biology."
When mutant and reference DNA samples from the same gene are mixed and re-annealed, variations between these sequences cause double-stranded DNA heteroduplexes to form. The WAVE System employs denaturing HPLC to separate these homo- and hetero-duplexes by ion-pairing reverse-phase HPLC. This technology has been in widespread use for genomic analysis being cited in over 2000 peer-reviewed publications. As an alternative offering, Transgenomic's SURVEYOR Nuclease cleaves such heteroduplexes with high specificity at sites of base mismatch or small insertions/deletions. It has a proven track record as a robust and reliable tool in analyzing DNA variations, especially where the mutant alleles are at a very low concentration within the sample (less than 1% of the total wild type allele concentration). Cold-PCR protocols preferentially amplify heteroduplexes such that mutant alleles become enriched compared to normal alleles. The range of enrichment demonstrated to date varies from 3 to 100-fold, which will contribute to Transgenomic's target of achieving a 1/10,000 mutant to normal allele ratio detection in a routine, cost-effective and high throughput protocol. This level of detection will allow straightforward tumor analysis via surrogate tissues such as blood and urine.
Transgenomic is a global biotechnology company that provides unique products and services for automated high sensitivity genetic variation and mutation analysis. Their offerings include systems, products, discovery and laboratory testing services to the academic and medical research, clinical laboratory and pharmaceutical markets in the fields of Pharmacogenomics and personalized medicine. Specific offerings include WAVE® DHPLC Systems, related consumables and assay kits, Cytogenetics automated systems, and Transgenomic Pharmacogenomics and Reference Laboratory Services. Transgenomic Pharmacogenomics and Laboratory Services utilize their technology and expertise to provide a menu of mutation scanning tests for over 700 cancer-associated genes and more than 60 validated diagnostic tests to meet the needs of pharmaceutical and biotech companies, research and clinical laboratories, physicians and patients. For more information about the innovative systems, products and services offered by Transgenomic, please visit: http://www.transgenomic.com/.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements include, but are not limited to, those with respect to management's current views and estimates of future economic circumstances, industry conditions, company performance and financial results, including the ability of the Company to grow its involvement in the diagnostic products and services markets. The known risks, uncertainties and other factors affecting these forward-looking statements are described from time to time in reports to the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to in such statements. Accordingly, the company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all statements contained in this press release.Transgenomic, Inc.
CONTACT: Debra Schneider, Chief Financial Officer of Transgenomic, Inc.,
Web Site: http://www.transgenomic.com/
ANN ARBOR, Mich., Oct. 8 /PRNewswire/ -- Borders® today announced it is the exclusive book retailer for the "2009 New York Yankees Postseason Media Guide," the quintessential guide to the Yankees' inaugural regular season in Yankee Stadium. Customers can purchase the book beginning tomorrow, Friday, Oct. 9, at Borders and Waldenbooks stores throughout New York, New Jersey and Connecticut and on Borders.com. Customarily available only to sportswriters, broadcasters and Yankees front office staff, the guide is loaded with club stats including year-by-year results, postseason results, and what every die-hard Yankees fan will love to have at their fingertips -- notable postseason home runs since 1921. Also featured is a game-by-game review of the 2009 season and comprehensive biographies and statistics on all Yankees players that saw action this season.
(Photo: http://www.newscom.com/cgi-bin/prnh/20091008/DE89754 ) (Logo: http://www.newscom.com/cgi-bin/prnh/20060208/BORDERSLOGO )
"We're thrilled to team with the New York Yankees to provide our customers with what is undoubtedly the ultimate insider's guide to the inaugural regular season at Yankee Stadium. The '2009 New York Yankees Postseason Media Guide' is destined to become a piece of Yankees history and something that many Yankees fans will want as part of their baseball memorabilia collection," said Ron Marshall, Chief Executive Officer at Borders. "It's conveniently available at our stores throughout Yankees fan territory -- and Borders.com -- beginning tomorrow, just in time for the postseason."
"Yankees fans are fortunate that for the first time, they can walk into any Borders store in the Tri-state area and purchase a '2009 New York Yankees Postseason Media Guide,'" Yankees General Manager Brian Cashman said. "Whether you're coming out to Yankee Stadium or watching us at home, it contains everything a Yankees fan needs to know about the 2009 season."
Priced at just $15, fans will want to buy multiple copies of the guide and surprise all of the Yankees fans in their lives with this authoritative and one-of-a-kind resource.
About Borders Group, Inc.
Headquartered in Ann Arbor, Mich., Borders Group, Inc. is a leading specialty retailer of books as well as other educational and entertainment items. The company employs approximately 25,000 throughout the U.S., primarily in its Borders® and Waldenbooks® stores. Online shopping is offered through borders.com. Find author interviews and vibrant discussions of the products we and our customers are passionate about online at facebook.com/borders, twitter.com/bordersmedia and youtube.com/bordersmedia. For more information about the company, visit borders.com/media.Photo: http://www.newscom.com/cgi-bin/prnh/20060208/BORDERSLOGO
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Web Site: AP PhotoExpress Network: PRN9
SHENZHEN, China, Oct. 8 /PRNewswire-FirstCall/ -- HTDS http://www.htdsmedical.com/ (HTDS) - The issuer's China based operating subsidiary Mellow Hope http://www.mellowhope.com/ is pleased to announce the clinical protocol is in the process of being approved. It is known that the Hepatitis A will be included in the Expanded Programme on Immunization (EPI) in 2010. Simply put, this means the market will cover all the new-born children. Mellow Hope expects its Mevac-A registration will be approved within the next 60-90 days.
The issuers Serbian based Slavica Bio Chem http://www.slavicabiochem.com/ brings attention to its Mindup Bioreseach cancer project conducted by molecular biologists and medical doctors: Sabera Ruzdijic, PhD as chief scientist, with Milica Pesic PhD, Tijana Andjelkovic MSc, Jasna Bankovic MD, PhD, Vedrana Milinkovic BSc, Ana Podolski BSc and Nikola Tanic PhD. The MindUp group is associated with the Department of Neurobiology, Institute for Biological Research "Sinisa Stankovic", University of Belgrade. One of the posters showing current results of MindUp group will be filed with Pink Sheets today.
In other company news HTDS representatives are meeting with the Canadian Pharmaceutical company for the associate operation of the Mindup Bioresearch cancer project. The company's focus is entirely upon completing its audit and continuing its aspirations to merge with an already listed OTCBB company which HTDS has identified, and talks are well under way.
To receive regular updates on HTDS please sign up or opt in with your email address at this link http://www.minamargroup.com/updates/
Safe Harbor Statement
Information in this filing may contain statements about future expectations, plans, prospects or performance of Hard to Treat Diseases, Inc. that constitute forward-looking statements for purposes of the safe harbor Provision's under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project", and similar words and phrases are intended to identify such forward-looking statements. HTDS Corporation cautions you that any forward-looking information provided by or on behalf of Hard to Treat Diseases, Inc. is not a guarantee of future performance. None of the information in this filing constitutes or is intended as an offer to sell securities or investment advice of any kind. Hard to Treat Diseases, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Hard to Treat Diseases, Inc.'s control. In addition to those discussed in Hard to Treat Diseases, Inc.'s press releases, public filings, and statements by Hard to Treat Diseases, Inc.'s management, including, but not limited to, Hard to Treat Diseases, Inc.'s estimate of the sufficiency of its existing capital resources, Hard to Treat Diseases, Inc.'s ability to raise additional capital to fund future operations, HTDS Corporation's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Hard to Treat Diseases, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Hard to Treat Diseases, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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PALO ALTO, Calif., Oct. 8 /PRNewswire-FirstCall/ -- Communications & Power Industries, Inc. (CPI) has received a one-year contract for up to $4.9 million to support the Aegis weapons system. CPI, a subsidiary of CPI International, Inc. , is a leading provider of microwave, radio frequency, power and control solutions for critical defense, communications, medical, scientific and other applications.
Under the contract, CPI will provide traveling wave tubes (TWTs) to support the AN/SPY-1D(V) radar system on the Aegis weapons system. CPI's TWT shipments for this contract are expected to begin in the second half of fiscal 2010 and be completed within 12 months.
The Aegis weapons system is CPI's largest single defense program. The AN/SPY-1 radar system is the primary air and surface radar on the U.S. Navy Ticonderoga-class cruisers and DDG-51 Arleigh Burke-class destroyers, as well as on several foreign navies' destroyers. The AN/SPY-1D(V) configuration of the radar system is designed to operate in high clutter, near-coast environments.
"CPI provides several different new and repair products for the Aegis weapons system in its many configurations, and it is a key defense platform for us. Our defense markets have stabilized, and this significant, short-term contract for the Aegis weapons system further demonstrates that there remains healthy and immediate demand for CPI's spare and repair products within those markets," said Joe Caldarelli, chief executive officer of CPI.
Work on the contract will be completed at CPI's facilities in Palo Alto, Calif. The contract was awarded by the Naval Inventory Control Point (NAVICP) in Mechanicsburg, Pa.
About CPI International, Inc.
CPI International, Inc., headquartered in Palo Alto, California, is the parent company of Communications & Power Industries, Inc., a leading provider of microwave, radio frequency, power and control solutions for critical defense, communications, medical, scientific and other applications. Communications & Power Industries, Inc. develops, manufactures and distributes products used to generate, amplify, transmit and receive high-power/high-frequency microwave and radio frequency signals and/or provide power and control for various applications. End-use applications of these systems include the transmission of radar signals for navigation and location; transmission of deception signals for electronic countermeasures; transmission and amplification of voice, data and video signals for broadcasting, Internet and other types of commercial and military communications; providing power and control for medical diagnostic imaging; and generating microwave energy for radiation therapy in the treatment of cancer and for various industrial and scientific applications.
Certain statements included above constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements provide our current expectations, beliefs or forecasts of future events. Forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual events or results to differ materially from the results projected, expected or implied by these forward-looking statements. These factors include, but are not limited to, competition in our end markets; the impact of a general slowdown in the global economy; our significant amount of debt; changes or reductions in the U.S. defense budget; currency fluctuations; U.S. government contracts laws and regulations; changes in technology; the impact of unexpected costs; and inability to obtain raw materials and components. These and other risks are described in more detail in our periodic filings with the Securities and Exchange Commission. As a result of these uncertainties, you should not place undue reliance on these forward-looking statements. All future written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We undertake no duty or obligation to publicly revise any forward-looking statement to reflect circumstances or events occurring after the date hereof or to reflect the occurrence of unanticipated events or changes in our expectations.Photo: http://www.newscom.com/cgi-bin/prnh/20060426/CPILOGO
CONTACT: Amanda Mogin, Communications & Power Industries, investor
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Web Site: http://www.cpii.com/
MONTREAL, Oct. 8 /PRNewswire-FirstCall/ -- Global General Technologies (GLGT:PK) (http://www.glgt-corporate.com/) GLGT is a holding company with interests in Collagenna Skin Care Products, a cosmetics company, http://www.collagenna.net/, and ITI Bio Tech http://www.itibiotech.com/. Both operating subsidiaries are located near Montreal Canada.
Collagenna Skin Care Products is pleased to announce the production of a Promotional Video for the Collagenna Skin Care Line in Scandinavia and they have retained the services of Mysen Media Center AS. http://www.mysenmediacenter.com/ as the marketing production company. Additionally, GLGT has also retained the services of an up and coming Norwegian Artist, Ina Marie Grefslie http://www.inamariegrefslie.com/biography.php. Ina Marie will be the spokesperson for the Collagenna product lines. She will appear in the promotional video. GLGT management expects the project to be completed by Early November 2009, in time for the Christmas, and the year-end holiday season sales launch. The video will be done in English with a Norwegian Version. This will allow us to use this promotional tool in several countries around the world. Ms. Grefslie currently resides in California and is actively pursuing her international career.
To be included in GLGT's e-mail database for press releases and industry updates, please subscribe at or opt in with your email address at this link http://www.minamargroup.net/updates/.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Global General Technologies, Inc. that constitute forward-looking statements for purposes of the safe harbor Provision's under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Global General Technologies, Inc. cautions you that any forward-looking information provided by or on behalf of Global General Technologies, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Global General Technologies Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Global General Technologies Inc.'s control. In addition to those discussed in Global General Technologies Inc.'s press releases, public filings, and statements by Global General Technologies, Inc.'s management, including, but not limited to, Global General Technologies, Inc.'s estimate of the sufficiency of its existing capital resources, Global General Technologies Inc.'s ability to raise additional capital to fund future operations, Global General Technologies Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Global General Technologies Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Global General Technologies, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
CONTACT: http://www.glgt-corporate.com/; For any investor relations matters, please contact http://www.minamargroup.net/helpdesk; Investor Relations Department, (302) 357-9915, (IR), 1st Level Support Retail Clients General Inquiry, http://www.minamargroup.net/ (IR) Corporate Matters, 1-800-365-4331 (M&A), http://www.minamargroup.com/ (M&A)Global General Technologies, Inc
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COLUMBIA, Md., Oct. 8 /PRNewswire-FirstCall/ -- Integral Systems, Inc. today announced that Paul G. Casner, President and Chief Executive Officer and Bill Bambarger, Chief Financial Officer, will be hosting an investor conference call on Monday, October 19 at 11 am (ET), to discuss fiscal year 2010 earnings guidance and outline Integral's prospects for the coming year.
On the same day before the market opens, the company will issue a public release summarizing its fiscal 2010 outlook. Integral Systems expects to release fiscal 2009 fourth quarter and year-end results in early December.
Interested parties are invited to participate in this conference call by dialing: 1.800.926.9853, ID number 21439461. A replay of the conference call can be heard from 1:00 pm (ET) Monday, October 19, 2009, through 1:00 pm (ET) Wednesday, October 21, 2009, by dialing 1.800.633.8284 or 402.977.9140 and asking for ID number 21439461.
ABOUT INTEGRAL SYSTEMS
Integral Systems, Inc., of Columbia, MD, applies more than 25 years experience to provide integrated technology solutions for SATCOM-interfaced networks. Customers have relied on the Integral Systems family of companies (Integral Systems, Inc., Integral Systems Europe, Lumistar, Inc., Newpoint Technologies, Inc., RT Logic, and SAT Corporation) to deliver on time and on budget for more than 250 satellite missions. Our dedication to customer service has solidified long-term relationships with the U.S. Air Force, NASA, NOAA, and nearly every satellite operator in the world. Integral Systems is listed in Forbes' Top 200 Small Companies in America for 2008. For more information, visit http://www.integ.com/.
Company Contact: Media Contact: Kathryn Herr Michael Glickman Vice President, Marketing and Zeno Group for Integral Systems Communications Phone: 212.299.8994 Integral Systems, Inc. firstname.lastname@example.org Phone: 443.539.5118 email@example.comIntegral Systems, Inc.
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Web Site: http://www.integ.com/
WESTON, Fla., Oct. 8 /PRNewswire/ -- American Scientific Resources Inc. (PINK SHEETS: ASFX) is pleased to make available its audited reports for the periods ending December 31, 2007 and December 31, 2008. These reports may be viewed in full at http://www.pinksheets.com/.
American Scientific Resources, Inc., http://www.americansci.com/, is a leading provider of innovative next-generation, health, medical, and safety products distributed primarily through nationwide retailers, medical suppliers, infomercials and on-line sites.
Previously the Company had their 2007 financials audited, and decided to have them re-audited so that they were even more comprehensive.
CEO and Chairman of the Board for ASR, Dr. Christopher F. Tirotta commented, "The Company is pleased to have been able to complete and file the statements for 2007 and 2008 for current and potential shareholder due diligence. We are well aware of the challenges that we have faced over the recent years and are grateful for the continuing support of all our shareholders and those who have helped the Company thus far. The Company has made outstanding progress in recent weeks and we will keep shareholders informed of our developments in the days to come."
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
Contact Investor Relations Ronald Garner Investor Hotline: 619-293-0621American Scientific Resources, Inc.
CONTACT: Ronald Garner, Investor Relations, Investor Hotline,
Web Site: http://www.americansci.com/
CHICAGO, Oct. 8 /PRNewswire-FirstCall/ -- Cobra Electronics Corporation , a leading global designer and marketer of mobile communications and navigation products, announced today that it will host a webcast of its third quarter 2009 earnings conference call. The details of the webcast are as follows:
DATE: Wednesday, October 28, 2009 TIME: 11:00 a.m. Eastern Time WHERE: http://www.cobra.com/
To listen to the live call, please go to Cobra's website at least 15 minutes prior to the conference call and click on the Investor Relations tab to register, download, and install any necessary audio software. For those who cannot listen to the live webcast, a replay will be available shortly after the call.
About Cobra Electronics
Cobra Electronics is a leading global designer and marketer of communication and navigation products, with a track record of delivering innovative and award-winning products. Building upon its leadership position in the GMRS/FRS two-way radio, radar detector and Citizens Band radio industries, Cobra identified new growth opportunities and has aggressively expanded into the marine market and has expanded its European operations. The Consumer Electronics Association, Forbes and Deloitte & Touche have all recently recognized Cobra for the company's innovation and industry leadership. To learn more about Cobra Electronics, please visit the Cobra site at http://www.cobra.com/.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks and uncertainties. Actual results may differ materially from these expectations due to factors such as the acceptance of Cobra's new and existing products by customers, the continued success of Cobra's cost containment efforts and the continuation of key distribution channel relationships. Please refer to Cobra's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, for a more detailed discussion of factors that may affect Cobra's performance.Cobra Electronics Corporation
CONTACT: Michael Smith, Senior Vice President and CFO of Cobra
Electronics, +1-773-804-6281, email@example.com; or Media, Elizabeth Dolezal of
Financial Relations Board, +1-312-640-6771, firstname.lastname@example.org, for Cobra
Web Site: http://www.cobra.com/
ALLENTOWN, Pa., Oct. 8 /PRNewswire-FirstCall/ -- PPL Electric Utilities on Thursday (10/8) completed its sixth and final competitive electricity purchase for 2010. This helps to fulfill the company's requirement for purchasing electricity in the wholesale market for its customers who do not choose an alternative supplier.
As a result of blending prices in contracts from all six solicitations, the bill for an average residential customer who chooses not to shop will increase about 29.7 percent next year following more than a decade of capped generation supply rates.
Under current market conditions, customers may be able to secure better pricing by shopping and selecting an alternative retail supplier.
In the latest round, PPL Electric Utilities also purchased a portion of the electricity supply for 2010 for large commercial and industrial customers who do not shop for competitive suppliers.
The results of this competitive solicitation were approved Thursday (10/8) by the Pennsylvania Public Utility Commission. The purchases completed a process begun by PPL Electric Utilities in 2007 to buy the power needed to serve customers in 2010.
A total of 25 different suppliers have competed in the procurement process since 2007, including 17 who participated in the sixth round. A total of 11 different companies have won supply contracts over the six solicitations.
"To help our customers prepare, we've shared information for more than three years about how electricity prices will change when rate caps expire," said David G. DeCampli, president of PPL Electric Utilities. "Now we have a clear picture of what customers can expect, and we offer a wide range of programs and options to help customers manage their bills and use energy wisely."
The company said monthly bills will increase on average about 18.4 percent for small businesses and about 36.1 percent for mid-size businesses.
For large commercial and industrial customers, a fixed generation price of 9.2 cents per kilowatt-hour will be offered to customers on the company's LP-4 rate schedule and 8.95 cents per kilowatt-hour for LP-5 and LP-6 customers. This offer applies to customers who expressed an interest in a fixed-price option earlier this year.
These customers will have until Nov. 9 to decide whether to accept the fixed-price option from PPL Electric Utilities, choose an alternative supplier or allow PPL Electric Utilities to purchase electricity for them on an hourly basis in the competitive wholesale market. They will receive more detailed information in the mail soon from PPL Electric Utilities.
PPL Electric Utilities will know the exact 2010 rates for its customers in December when several smaller components of the bill are routinely adjusted and approved by the PUC. These adjustments generally have a minimal effect on customer bills.
The higher electricity prices come after more than a decade of rate caps on the generation portion of customers' bills ends Dec. 31. Generation accounts for more than half of the typical customer's electric bill. The increase reflects the fact that the cost to provide generation today is greater than it was in the 1990s.
PPL Electric Utilities, which doesn't produce power, must buy power for customers who do not choose an alternative supplier and pass suppliers' costs directly to customers without profit.
"Adjusting to higher generation supply prices we are obligated to pass through in 2010 will be difficult for some of our customers," DeCampli said. "We've tried to prepare customers by raising awareness, promoting energy efficiency, and giving customers options that can help them adjust gradually to the change. We remain committed to helping them through this transition."
He said the company's online Energy Analyzer at http://www.pplelectric.com/ gives customers more detailed usage information than ever before, lets them analyze their energy usage and provides tips to save. More than 400,000 customers have accessed the Energy Analyzer.
In addition, he said the company expects to begin offering many new energy efficiency programs beginning later this year to help customers save energy. The programs, under review by the PUC, will provide financial incentives to customers who make their homes and businesses more energy-efficient.
If approved, the programs will provide rebates for customers who install energy-efficient equipment, nearly double the funding for low-income home weatherization programs, provide discounts on compact fluorescent light bulbs and much more.
"There will be opportunities for everyone," DeCampli said. "And customers won't have to spend much to get quick paybacks and realize significant, long-term savings."
DeCampli said customers who shop for better deals may be able to further lessen the impact of higher prices in 2010. Many retail suppliers have already begun to approach businesses across eastern and central Pennsylvania with supply offers for next year. Some suppliers also have shown interest in selling to residential customers.
Information about retail suppliers is available at the PUC's "Utility Choice" Web site at http://www.puc.state.pa.us/utilitychoice. Between now and the end of the year, customers will receive additional communications from PPL Electric Utilities with information about electric choice.
PPL Electric Utilities also offers two options that let customers spread out the higher prices over several years. The first option, which more than 140,000 customers signed up for in late 2008, is a prepayment plan that lets residential and small-business customers adjust gradually to higher prices.
The second option, which opened for enrollment Sept. 29, lets customers defer a portion of the 2010 increase for one to two years, depending on how much electricity they use. Customers can enroll in these options online at http://www.pplelectric.com/ or by calling 1-866-597-2010.
PPL Electric Utilities, a subsidiary of PPL Corporation , provides electric delivery service to 1.4 million customers in 29 counties of eastern and central Pennsylvania and has consistently ranked among the best companies for customer service in the United States. More information is available at http://www.pplelectric.com/.
Data Summary: Sixth and Final Round of Power Purchases Residential Small Commercial and Customers Industrial Customers Round 6 (October 2009) Retail price per kilowatt-hour 8.20 cents 8.399 cents Average of all six rounds Retail price per kilowatt-hour 9.948 cents 10.053 cents Estimated average increase in 2010 29.7% 18.4% for small businesses; 36.1% for mid-size businesses
Statements contained in this news release, including statements with respect to future energy prices and supply, regulation and rates, are "forward-looking statements" within the meaning of the federal securities laws. Although PPL Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, these statements involve a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements. The following are among the important factors that could cause actual results to differ materially from the forward-looking statements: market demand and prices for energy, capacity and fuel; customer energy usage; competition in retail and wholesale power markets; liquidity of wholesale power markets; the effect of any business or industry restructuring; operation and availability of existing and future generation facilities and operating costs; political, regulatory or economic conditions; receipt of governmental approvals and rate relief; new state or federal legislation; state and federal regulatory developments; and the commitments and liabilities of PPL Corporation and its subsidiaries. Any such forward-looking statements should be considered in light of such important factors and in conjunction with PPL Corporation's Form 10-K and other reports on file with the Securities and Exchange Commission.PPL Electric Utilities
CONTACT: George Lewis of PPL Electric Utilities, +1-610-774-5997
Web Site: http://www.pplelectric.com/
BALTIMORE, Oct. 8 /PRNewswire-FirstCall/ -- Sinclair Television Group, Inc. ("Sinclair"), a wholly-owned subsidiary of Sinclair Broadcast Group, Inc. (the "Company") today announced that it is commencing cash tender offers for any and all of the Company's outstanding 3.0% Convertible Senior Notes due 2027 (CUSIP No. 829226AW9) (the "3.0% Notes") and 4.875% Convertible Senior Notes due 2018 (CUSIP No. 829226AU3) (the "4.875% Notes" and, together with the 3.0% Notes, the "Notes"). The holders of the 3.0% Notes and 4.875% Notes are entitled to require the Company to repurchase such Notes at 100% of their principal amount in May 2010 and January 2011, respectively. Approximately $294.3 million of the 3.0% Notes and $143.5 million of the 4.875% Notes are currently outstanding. Specific terms and conditions of the tender offers are included in the Offer to Purchase, dated October 8, 2009, filed with the Securities and Exchange Commission (the "SEC") today.
The Company also announced that it has entered into a Memorandum of Understanding ("MOU") with Cunningham Broadcasting Corporation, the material terms of which are included in a Current Report on Form 8-K filed today with the SEC. The MOU is contingent upon the refinancing of the Notes.
The Company also announced that it intends to issue second lien notes in a private placement to finance the tender offers, the terms of which are different than the terms negotiated with the ad hoc committee representing certain holders of the Notes, as previously disclosed. The ad hoc committee supports the terms of the tender offers.
Under the terms of the tender offers, any 3.0% Notes validly tendered and not validly withdrawn on or prior to the expiration date will be purchased at a purchase price of $980 per $1,000 in principal amount and any 4.875% Notes validly tendered and not validly withdrawn on or prior to the expiration date will be purchased at a purchase price of $980 per $1,000 in principal amount. Tendering holders will also receive accrued and unpaid interest from the last interest payment date to the settlement date. The tender offers will be conditioned on, among other things, receipt of sufficient proceeds from the unregistered, private placement of the second lien notes to fund the tender offers and an amendment of Sinclair's senior secured credit facility to allow the issuance of the second lien notes. If any of the conditions is not satisfied, Sinclair is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered notes, in each event subject to applicable laws, and may terminate the tender offers. The tender offers are not conditioned on the tender of a minimum principal amount of Notes. Sinclair intends to fund the cash tender offers, and all related costs and expenses, with the net proceeds from the unregistered, private placement of second lien notes and, if needed, a draw on the revolving line of credit under its senior secured credit facility and/or cash on-hand.
The tender offers will expire at 12:00 midnight, New York City time, on Thursday, November 5, 2009 unless extended or earlier terminated by Sinclair. Payment of the purchase price for the Notes validly tendered and not validly withdrawn on or prior to the expiration date will be made as promptly as practicable, which is expected to be the second New York City business day after the expiration date.
Copies of the tender offer documents can be obtained by contacting MacKenzie Partners, Inc., the Information Agent for the tender offers, at (212)-929-5500. Holders of the Notes and investors may obtain a copy of the tender offer materials, including the Offer to Purchase and the Letter of Transmittal, free of charge at the SEC's website at http://www.sec.gov/.
J.P. Morgan Securities Inc. is acting as Dealer Manager for the tender offers. Questions concerning the tender offers may be directed to J.P. Morgan Securities Inc. at (800) 245-8812 or collect at (212) 270-3394. U.S. Bank National Association has been appointed to act as the depositary for the tender offers.
None of Sinclair and the Company, including the Board of Directors of each, the Information Agent, the Dealer Manager, the Depositary or any other person, has made or makes any recommendation as to whether holders of the Notes should tender, or refrain from tendering, all or any portion of their Notes pursuant to the tender offers, and no one has been authorized to make such a recommendation. Holders of the Notes must make their own decisions as to whether to tender their Notes.
This press release shall not constitute an offer to purchase or a solicitation of an offer to sell any securities, including the Notes. The tender offers are being made only pursuant to the terms of the Offer to Purchase and related materials, including the Letter of Transmittal. Holders of the Notes should read carefully the Offer to Purchase and related materials, including the Letter of Transmittal, because they contain important information.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the second lien notes, nor shall there be any offer or sale of the second lien notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The second lien notes, when, and if, offered will not be registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Sinclair Broadcast Group, Inc., one of the largest and most diversified television broadcasting companies, currently owns and operates, programs or provides sales services to 58 television stations in 35 markets. The Company's television group reaches approximately 22% of U.S. television households and includes FOX, ABC, CBS, NBC, MNT and CW affiliates. The Company regularly uses its website as a key source of Company information and can be accessed at http://www.sbgi.net/.
The matters discussed in this press release include forward-looking statements regarding, among other things, future operating results. When used, the words "outlook," "intends to," believes," "anticipates," "expects," "achieves," and similar expressions are intended to identify forward-looking statements and information. Such forward-looking information is subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those set forth in the forward-looking information as a result of various important factors, including and in addition to the assumptions set forth therein, but not limited to, Sinclair's ability to commence or consummate the offering of second lien notes, Sinclair's ability to commence or consummate the tender offers, whether or not any of the Notes are tendered in the tender offers, whether or not Sinclair will be able to reach agreement with its lenders for any necessary amendments or consents under its senior secured credit facility, the impact of changes in national and regional economies, the volatility in the U.S. and global economies and financial credit markets which impact Sinclair's and the Company's ability to forecast or refinance their respective debts as they become due, successful execution of outsourcing agreements, pricing and demand fluctuations in local and national advertising, volatility in programming costs, the market acceptance of new programming, the CW Television and MyNetworkTV programming, Sinclair's news share strategy, local sales initiatives, the execution of retransmission consent agreements, the Company's ability to identify and consummate investments in attractive non-television assets and to achieve anticipated returns on those investments once consummated, and the other risk factors set forth in the Company's recent Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Report on Form 10-K, as filed with the SEC. There can be no assurance that the assumptions and other factors referred to will occur. The Company and Sinclair undertake no obligation to update such forward-looking information in the future except as required by law.Sinclair Broadcast Group, Inc.
CONTACT: David Amy, EVP & CFO, or Lucy Rutishauser, VP-Corporate Finance
& Treasurer, +1-410-568-1500, both of Sinclair Broadcast Group, Inc.
Web Site: http://www.sbgi.net/
ROSEVILLE, Calif., Oct. 8 /PRNewswire-FirstCall/ -- Leading independent communications holding company SureWest Communications will release financial results for the third quarter ended September 30, 2009 after the market closes on Thursday, October 29, 2009.
SureWest will host a conference call and live webcast providing details about its results and business strategy at 5 p.m. Eastern Time on Thursday, October 29, 2009. Open to the public, a simultaneous live webcast of the call will be available from the company's investor relations Web site at http://www.surw.com/. A telephone replay of the call will be available shortly after the call through November 5, 2009 by dialing 888.286.8010 and entering pass code 93314295. Visit http://www.surw.com/ for updates prior to the call.
About SureWest Communications
SureWest Communications (http://www.surewest.com/) is one of the nation's leading integrated communications providers and is the bandwidth leader in the markets it serves. Headquartered in Northern California for more than 90 years, the company expanded into the Kansas City region in February 2008 with the acquisition of Everest Broadband, Inc. and offers bundled residential and commercial services that include IP-based digital and high-definition television, high-speed Internet, Voice over IP, and local and long distance telephone. SureWest was the nation's first provider to launch residential HDTV over an IP network and offers one of the nation's fastest symmetrical Internet services with speeds of up to 50 Mbps in each direction on its fiber-to-the-home network.
Contact: Ron Rogers Corporate Communications 916-746-3123 email@example.com Misty Wells Investor Relations 916-786-1799 firstname.lastname@example.orgPhoto: http://www.newscom.com/cgi-bin/prnh/20050908/SFSUREWESTLOGO
CONTACT: Ron Rogers, Corporate Communications, +1-916-746-3123,
email@example.com, or Misty Wells, Investor Relations, +1-916-786-1799,
firstname.lastname@example.org, both of SureWest Communications
Web Site: http://www.surewest.com/