MCLEAN, Va. and SAN DIEGO, Oct. 19 /PRNewswire-FirstCall/ -- Science Applications International Corporation today announced it has been awarded a prime contract by the National Guard Bureau (NGB) to provide architectural design and engineering services in support of military structures, roadways and airfields. The multiple award indefinite delivery/indefinite quantity contract has a two year base period of performance, three one-year options and a total contract ceiling of $95 million per awardee. Work will be performed at NGB installations (throughout the United States and it's territories) as required, by SAIC's wholly owned design-build subsidiary, The Benham Companies, LLC.
The NGB assigns federal missions and allocates resources to the Army National Guard, maintaining 63 major installations and 3,360 armories, and the Air National Guard, maintaining 87 bases, air stations and airfields. Under the contract SAIC will provide design and engineering services for military structures including aircraft hangars; maintenance, munitions and supply shops; fire stations, security police and medical facilities; dining halls and communications and electronic training facilities. SAIC will also support roadway and military airfield pavements, and infrastructure improvements to water, sewer, power and aircraft fuel distribution and storage systems.
"SAIC's Benham subsidiary has supported the NGB with quality architectural design and engineering services for the past five years. We look forward to continuing our support of their vital mission," said J.T. Grumski, SAIC senior vice president and business unit general manager.
SAIC is a FORTUNE 500Â® 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 SolutionsÂ®
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 Melissa.firstname.lastname@example.org email@example.comSAIC
CONTACT: Melissa Koskovich, +1-703-676-6762,
Melissa.firstname.lastname@example.org; or Laura Luke, +1-703-676-6533,
email@example.com, both of SAIC
Web Site: http://www.saic.com/
ELMWOOD PARK, N.J., Oct. 19 /PRNewswire-FirstCall/ -- As previously announced, WebMD Health Corp. and HLTH Corporation will be holding their Annual Meetings of Stockholders beginning at 9:30 a.m. Eastern Time on Friday, October 23, 2009.
A live audio webcast of the meetings will be available over the Internet. To listen to the audio webcast of the meetings, investors can go to http://www.wbmd.com/ (in the Investor Relations section) or at http://www.hlth.com/ (in the Investor Relations section) at that time.
A replay of the meeting will be available at the same web addresses. About HLTH Corporation
HLTH Corporation owns approximately 83% of WebMD Health Corp. . WebMD is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers and health plans through its public and private online portals and health-focused publications.
WebMD Health Corp. is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers and health plans through our public and private online portals and health-focused publications. WebMD Health Corp. is a subsidiary of HLTH Corporation .
All statements contained in this press release, other than statements of historical fact, are forward-looking statements. These statements are based on HLTH's and WebMD's current plans and expectations and involve risks and uncertainties, including those described in our SEC filings.WebMD; HLTH Corporation
CONTACT: HLTH and WebMD Contacts, Investors , Risa Fisher,
firstname.lastname@example.org, email@example.com, +1-212-624-3817, or +1-201-414-2002, or
Media:, Kate Hahn, firstname.lastname@example.org, +1-212-624-3760
Web Site: http://www.hlth.com/
LOS ANGELES, Oct. 19 /PRNewswire-FirstCall/ -- Cathay General Bancorp (the "Company") , the holding company for Cathay Bank, today announced that it has completed its previously announced offering of 7,614,571 shares of its common stock and that the underwriter for the offering has exercised in full its over-allotment option to purchase an additional 1,142,185 shares of common stock. The net proceeds from the offering to the Company were approximately $76.0 million.
BofA Merrill Lynch acted as sole bookrunner for the offering.
This press release is neither an offer to sell, nor a solicitation of an offer to buy, any securities of the Company, and there shall not be any sale of securities of the Company in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of the final prospectus supplement and the accompanying prospectus relating to these securities may be obtained by contacting BofA Merrill Lynch, Attention: Prospectus Department, 4 World Financial Center, New York, NY 10080.
ABOUT CATHAY GENERAL BANCORP
Cathay General Bancorp is the holding company for Cathay Bank, a California state-chartered bank. Founded in 1962, Cathay Bank offers a wide range of financial services. Cathay Bank currently operates 31 branches in California, eight branches in New York State, one in Massachusetts, two in Texas, three in Washington State, three in the Chicago, Illinois area, one in New Jersey, one in Hong Kong, and a representative office in Shanghai and in Taipei.
FORWARD-LOOKING STATEMENTS AND OTHER NOTICES
The information contained in this press release is not intended as a solicitation to buy Cathay General Bancorp stock or any other securities and is provided for information only. Statements made in this press release, other than statements of historical fact, are forward-looking statements within the meaning of the applicable provisions of the Private Securities Litigation Reform Act of 1995 regarding management's beliefs, projections, and assumptions concerning future results and events. These forward-looking statements may include, but are not limited to, such words as "aims," "anticipates," "believes," "could," "estimates," "expects," "hopes," "intends," "may," "plans," "projects," "seeks," "shall," "should," "will," "predicts," "potential," "continue," and variations of these words and similar expressions. Forward-looking statements are based on estimates, beliefs, projections, and assumptions and are not guarantees of future performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the Company's historical experience and the Company's present expectations or projections. Such risks and uncertainties and other factors include, but are not limited to, adverse developments or conditions related to or arising from: significant volatility and deterioration in the credit and financial markets; adverse changes in general economic conditions; the effects of the Emergency Economic Stabilization Act, the American Recovery and Reinvestment Act, and the Troubled Asset Relief Program (TARP) and any changes or amendments thereto; deterioration in asset or credit quality; the availability of capital; the impact of any goodwill impairment that may be determined; acquisitions of other banks, if any; fluctuations in interest rates; the soundness of other financial institutions; expansion into new market areas; earthquakes, wildfires, or other natural disasters; competitive pressures; changes in laws, regulations, and accounting rules, or their interpretations; legislative, judicial, or regulatory actions and developments against the Company; and general economic or business conditions in California and other regions where Cathay Bank has operations, including, but not limited to, adverse changes in economic conditions resulting from the continuation or worsening of the current economic downturn.
These risks and uncertainties and other factors are further described in the Company's Current Report on Form 8-K filed on October 13, 2009, the Company's other reports filed with the SEC, and other filings the Company makes with the SEC from time to time, including the prospectus related to the offering described above. Actual results in any future period may also vary from the past results discussed in this press release. Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements, which speak to the date of this press release. Cathay General Bancorp has no intention and undertakes no obligation to update any forward-looking statement or to publicly announce any revision of any forward-looking statement to reflect future developments or events, except as required by law.
Cathay General Bancorp's filings with the SEC are available at the website maintained by the SEC at http://www.sec.gov/, or by request directed to Cathay General Bancorp, 9650 Flair Drive, El Monte, California 91731, Attention: Investor Relations (626) 279-3286.Cathay General Bancorp
CONTACT: Heng W. Chen of Cathay General Bancorp, +1-626-279-3652
Web Site: http://www.cathaybank.com/
ATLANTA, Oct. 19 /PRNewswire-FirstCall/ -- Southern Company today announced a regular quarterly dividend of 43.75 cents per share on the company's common stock, payable Dec. 5, 2009, to shareholders of record Nov. 2, 2009.
This marks 248 consecutive quarters - dating back to 1948 - that Southern Company will have paid a dividend to its shareholders.
With 4.4 million customers and more than 42,000 megawatts of generating capacity, Atlanta-based Southern Company is the premier energy company serving the Southeast. A leading U.S. producer of electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices that are below the national average. Southern Company is consistently listed among the top U.S. electric service providers in customer satisfaction by the American Customer Satisfaction Index (ACSI). Visit our Web site at http://www.southerncompany.com/.Photo: http://www.newscom.com/cgi-bin/prnh/20080801/SOCOLOGO Southern Company
CONTACT: Media: Terri Cohilas, +1-404-506-5333 or 1-866-506-5333,
email@example.com, or Investor Relations: Glen Kundert,
Web Site: http://www.southerncompany.com/
ENGLEWOOD CLIFFS, N.J., Oct. 19 /PRNewswire-FirstCall/ -- Jinpan International Ltd. , a leading designer, manufacturer, and distributor of cast resin transformers for voltage distribution equipment in China, today announced the opening of a new, Carlstadt, New Jersey-based office and warehouse facility.
The state-of-the-art 20,000 sq-ft building will provide enough office space for Jinpan's U.S. sales and administrative functions with room to expand as well as moderate production capability associated with assembly, testing and warehousing.
Mr. Zhiyuan Li, Chief Executive Officer of Jinpan commented, "As Jinpan continues its growth in the U.S. and other international markets, we are excited to have this new facility at our disposal with its simple assembly and testing capabilities which we believe will allow Jinpan to better serve its U.S.-based customers. Also, with a limited product showroom, customers can now see, first hand, Jinpan's high quality cast resin transformers. We look forward to using this new office and warehouse facility as a step in increasing our international visibility and delivering continued growth in our business."
About Jinpan International Ltd.
Jinpan International Ltd. designs, manufactures, and markets cast resin transformers for power distribution and wind energy products. Jinpan's cast resin transformers allow high voltage transmissions of electricity to be distributed to various locations in lower, more usable voltages. The Company has obtained ISO9001 and ISO1401 certifications of its cast resin transformers. Its principal executive offices are located in Hainan, China and its U.S. headquarters is based in Englewood Cliffs, New Jersey.
Safe Harbor Provision
Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the company's periodic filings with the Securities and Exchange Commission.Jinpan International Ltd.
CONTACT: At Jinpan International Ltd., Mark Du, Chief Financial Officer,
+1-201-227-0680, At ICR, Inc.: In China, Yuening Jiang, +86 10 6599 7965, In
U.S., Brian M. Prenoveau, CFA, +1-203-682-8200
GASTONIA, N.C., Oct. 19 /PRNewswire-FirstCall/ -- Kim S. Price, President and Chief Executive Officer of Citizens South Banking Corporation , announced today that the Company's Board of Directors has declared a cash dividend of four cents ($0.04) per share of common stock. The Company has paid cash dividends in each of the 46 quarters since the Company's conversion to public ownership. The dividend will be payable to shareholders of record as of November 1, 2009, and will be paid on November 15, 2009.
Citizens South Banking Corporation is the parent corporation for Citizens South Bank, which was established in 1904 and is headquartered in Gastonia, North Carolina. The Bank has 16 full-service banking offices located in the Charlotte, North Carolina region. At September 30, 2009, the Company had consolidated assets of $821 million, outstanding loans of $617 million, total deposits of $602 million and stockholders' equity of $104 million.
This news release contains certain forward-looking statements which include, but are not limited to, statements of our earnings expectations, statements regarding our operating strategy, and estimates of our future costs and benefits. These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Forward-looking statements speak only as of the date they are made and the Company is under no duty to update these forward-looking statements to reflect circumstances or events that occur after the date of the forward-looking statements or to reflect the occurrence of unanticipated events. A number of factors could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, changes in general economic conditions - either locally or nationally, competition among depository and financial institutions, the continuation of current revenue and expense trends, significant changes in interest rates, unforeseen changes in the Company's markets, and legal, regulatory, or accounting changes. The Company's reports filed from time to time with the Securities and Exchange Commission, including the Company's Form 10-K for the year ended December 31, 2008, describe some of these factors.Citizens South Banking Corporation
CONTACT: Gary F. Hoskins, CFO, +1-704-884-2263,
WASHINGTON, Oct. 19 /PRNewswire-FirstCall/ -- Blackboard Inc. , a global leader in education technology, today announced that it has been positioned in Gartner's Magic Quadrant for Corporate Learning Systems, an influential report evaluating the completeness of vision and ability to execute of vendors in the market.
Blackboard has seen significant growth in the corporate learning space where an increasing number of corporations of all sizes have adopted the company's teaching and learning platform to deploy training programs efficiently and cost effectively. In the Magic Quadrant report, Gartner "evaluates vendors based on their ability to articulate current and future market direction, innovation, customer needs and competitive forces."
The report notes that, "In 2009, we evaluated Corporate Learning System vendors for comprehensiveness of their offering. Those that presented more effective components and capabilities generally improved in the areas of analytics, learner ease-of-use and support for structured social and informal learning. The social learning platform has emerged as a key component."(1)
"With deep roots in education, Blackboard knows how to support the expectations instructors and learners have for acquiring and sharing knowledge," said Tim Hill, President of Blackboard Learn, Professional Education. "The corporate and government markets have embraced our solution set because they increasingly need an easy way to allow instructors, subject matter experts and learners to interact in engaging social learning environments. We routinely hear that this kind of collaboration helps directly impact business outcomes and objectives, often in ways beyond initial expectations."
Blackboard's intuitive solutions enable companies, government and professional organizations to upload, update and distribute custom learning content in a wide variety of formats and connect their learning programs to an active user community, regional support groups and training opportunities.
"The Blackboard platform fits within our transformational way of thinking and aligns with our company's values of accountability, commitment, collaboration, innovation and leadership," said Bill Reggio, director of sales training and development at Watson Pharmaceuticals Inc.
"The Blackboard learning environment lets our sales representatives engage with content and with the management team before, during and after the learning event and enables collaborative learning opportunities that increase their belief in the product and passion for success," added Jason Zeman, associate director of sales training and development at Watson Pharmaceuticals Inc.
Blackboard has seen growth for its learning platform in corporate, government, military and professional organizations in the United States and globally. Blackboard's flagship learning platform, Blackboard Learn(TM), includes a range of powerful capabilities, social learning tools and Web 2.0 innovations to more effectively engage learners. The platform can support secure instant messaging, blogs, journals and enhanced group tools as well as notification dashboards and alerts that help keep learners engaged and on top of their work.
More information about the report, Magic Quadrant for Corporate Learning Systems, is available at http://www.blackboard.com/gartner.
For more information about Blackboard's solutions for corporate learning, please visit: http://blackboard.com/corp.
About Blackboard Inc.
Blackboard Inc. is a global leader in enterprise technology and innovative solutions that improve the experience of millions of students and learners around the world every day. Blackboard's solutions allow thousands of higher education, K-12, professional, corporate, and government organizations to extend teaching and learning online, facilitate campus commerce and security, and communicate more effectively with their communities. Founded in 1997, Blackboard is headquartered in Washington, D.C., with offices in North America, Europe, Asia and Australia.
Any statements in this press release about future expectations, plans and prospects for Blackboard and other statements containing the words "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the factors discussed in the "Risk Factors" section of our Form 10-K filed on August 6, 2009 with the SEC. In addition, the forward-looking statements included in this press release represent the Company's views as of October 19, 2009. The Company anticipates that subsequent events and developments will cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to October 19, 2009.
The Gartner Magic Quadrant is copyrighted (2009) by Gartner, Inc., and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
(1) Rozwell, Carol. "Magic Quadrant for Corporate Learning Systems," Gartner. September 10, 2009.Blackboard Inc.
CONTACT: Matthew Maurer, Blackboard Inc., +1-202-463-4860, ext. 2637,
Web Site: http://www.blackboard.com/
NEW YORK, Oct. 19 /PRNewswire-FirstCall/ -- Weight Watchers International, Inc. will release its results for the third quarter 2009 after the NYSE close on Tuesday, November 10, 2009.
The Company has also scheduled a conference call on November 10th at 5:00 p.m. ET. During the conference call, David Kirchhoff, President and Chief Executive Officer, and Ann Sardini, Chief Financial Officer, will discuss third quarter results and answer questions from the investment community.
Live audio of the conference call will be simultaneously webcast over the Internet on the Company's corporate website, http://www.weightwatchersinternational.com/. A replay of the webcast will be available on this site for approximately 90 days.
About Weight Watchers International, Inc.
Weight Watchers International, Inc. is the world's leading provider of weight management services, operating globally through a network of Company-owned and franchise operations. Weight Watchers holds over 50,000 weekly meetings where members receive group support and learn about healthy eating patterns, behavior modification and physical activity. WeightWatchers.com provides innovative, subscription weight management products over the Internet and is the leading Internet-based weight management provider in the world. In addition, Weight Watchers offers a wide range of products, publications and programs for those interested in weight loss and weight control.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and beliefs, as well as a number of assumptions concerning future events. These statements are subject to risks, uncertainties, assumptions and other important factors. Readers are cautioned not to put undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied. The reports filed by the Company pursuant to United States securities laws contain discussions of these risks and uncertainties. The Company assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are advised to review the Company's filings with the United States Securities and Exchange Commission (which are available from the SEC's EDGAR database at http://www.sec.gov/, at various SEC reference facilities in the United States and via the Company's website at http://www.weightwatchersinternational.com/).
Contact Information: Weight Watchers International, Inc. Brainerd Communicators, Inc. Sarika Sahni Corey Kinger Director, Investor Relations (212) 986-6667 (212) 589-2751Weight Watchers International, Inc.
CONTACT: Sarika Sahni, Director, Investor Relations for Weight Watchers
International, Inc., +1-212-589-2751 or Corey Kinger of Brainerd
Communicators, Inc., +1-212-986-6667
Web Site: http://www.weightwatchersinternational.com/
GOLDEN, Colo., Oct. 19 /PRNewswire/ -- Siemens Energy, Inc. and the U.S. Department of Energy's (DOE) National Renewable Energy Laboratory (NREL) today formally commissioned a new 2.3-megawatt Siemens wind turbine at NREL's National Wind Technology Center. The turbine is the centerpiece of a multi-year project to study the performance and aerodynamics of a new class of large, land-based machines - in what will be the biggest government-industry research partnership for wind power generation ever undertaken in the U.S. Under the initial phase of the $14 million research program, Siemens will contribute $9 million, NREL $5 million.
"At Siemens, innovation is one of our core values. That's why we are especially pleased to join forces with our nation's leading wind research facility," said Barry Nicholls, senior vice president of Siemens Energy, Inc. "This important new research program will help us further enhance the performance of our turbines and lower the cost of clean, wind-generated power, which in turn will help diversify the overall mix of power generation sources in the U.S."
Under their Cooperative Research and Development Agreement (CRADA), Siemens and NREL will test basic turbine characteristics and verify new performance enhancing features of the pilot turbine over a minimum of three years - and potentially longer. Testing will include a full range of real-world operating regimens, including severe weather conditions.
"Today begins a new era of research at NREL's National Wind Technology Center," said NREL Director Dan Arvizu. "With our partners at Siemens Energy, we will embark on a comprehensive R&D program that will pave the way for the even more advanced wind turbines of the future."
Culminating today's event, Arvizu and Nicholls joined Colorado Gov. Bill Ritter in flipping a switch that symbolically commissioned the giant machine, fitted with a 331-foot-diameter rotor, mounted atop a 262-foot tower. Gov. Ritter addressed the assembled gathering of community and business leaders, while the Golden High School Marching Band provided a celebratory note.
The Siemens 2.3-MW turbine is among the largest land-based turbines deployed in the United States and is the largest at the NWTC site. Planned testing includes structural and performance testing; modal, acoustics and power quality testing; as well as aerodynamic testing and turbine performance enhancements. A new meteorological tower to the west of the Siemens turbine will feature more than 60 instruments to collect the most advanced data available on wind, temperature, dew point, precipitation and other weather features that can influence the performance and lifespan of a wind turbine.
NREL researchers also are interested in the foundations required beneath the ground to support larger wind turbines. NREL and Renewable Energy Systems Americas (RES) have entered into a separate but coordinated agreement to study the design and performance of turbine foundations, with goals of increasing the reliability of non-turbine components and reducing turbine installation costs.
The new turbine and other new projects underway at the NWTC also allow NREL to take a significant step forward in generating its own clean electricity to accomplish the laboratory's aggressive sustainability goals - including the reduction of greenhouse gas emissions while at the same time meeting the energy needs of NREL's expanding campus. DOE and Xcel Energy are negotiating an agreement for surplus energy to be exported and sold to the local utility grid.
Installation of the pilot turbine at the National Wind Technology Center follows Siemens' decision to locate its own wind power research and development center in nearby Boulder. That office is expected to grow to 40 engineers and other staff by 2013. This turbine project is part of a coordinated wind research program supported by the DOE Office of Energy Efficiency and Renewable Energy.
The Siemens Energy Sector is the world's leading supplier of a complete spectrum of products, services and solutions for the generation, transmission and distribution of power and for the extraction, conversion and transport of oil and gas. In fiscal 2008 (ended September 30), the Energy Sector had revenues of approximately EUR22.6 billion and received new orders totaling approximately EUR33.4 billion and posted a profit of EUR1.4 billion. On September 30, 2008, the Energy Sector had a work force of approximately 83,500. Further information is available at: http://www.siemens.com/energy.
NREL is the U.S. Department of Energy's primary national laboratory for renewable energy and energy efficiency research and development. NREL is operated for DOE by the Alliance for Sustainable Energy, LLC. Visit NREL online at http://www.nrel.gov/.Photo: http://www.newscom.com/cgi-bin/prnh/20070904/SIEMENSLOGO Siemens Energy, Inc.
CONTACT: Monika Wood of Siemens Energy, Inc., +1-407-455-2076,
Web Site: http://www.siemens.com/energy
GASTONIA, N.C., Oct. 19 /PRNewswire-FirstCall/ -- Citizens South Banking Corporation , the holding company for Citizens South Bank, announced financial results for the third quarter ended September 30, 2009. The Company reported a net loss of $759,000, or $0.10 per diluted share, for the quarter ended September 30, 2009, compared to net income of $822,000, or $0.11 per diluted share, for the quarter ended September 30, 2008. The decline in earnings was primarily due to an increase in the provision for loan losses, which amounted to $4.0 million for the third quarter of 2009. Kim S. Price, President and CEO, stated, "Given the state of the overall economy in the Charlotte Region, we have prudently and conservatively set aside an elevated provision for loan losses against our loan portfolio. While we have recently seen signs of some improvement in the housing market, unemployment levels in the region remain high and we believe it is in our stockholders' best interest to protect our balance sheet with these higher levels of reserves."
Price continued, "We are fortunate that our long history of profitability and our "well capitalized" status affords us the flexibility to create these protections. Our core earnings engine remains strong and is bolstered by an expanding net interest margin. While we are encouraged by recent signs of an improving housing market and slightly improving employment rates, we think cautious optimism is warranted."
Third Quarter 2009 Financial Highlights: Credit Quality
The continued softening in the Charlotte Regional real estate market has resulted in increased levels of delinquent loans resulting in credit quality ratios that remain above the Company's historical averages. President Price commented, "With the recent completion of our normal regulatory examination, we are confident that our levels of non-performing assets are manageable, and continue to compare favorably with industry peers." During the third quarter of 2009, nonperforming assets, which include nonperforming loans and other real estate owned, increased by $1.6 million to $14.1 million, or 1.72% of total assets at September 30, 2009, as compared to $12.5 million, or 1.49% of total assets, at June 30, 2009, and $4.5 million, or 0.55% of total assets at September 30, 2008. Due to the general weakness in the economy and an increase in the Company's nonperforming loans, the Company's provision for loan losses increased to $4.0 million during the third quarter of 2009 as compared to $2.0 million during the second quarter of 2009 and $720,000 during the third quarter of 2008. At September 30, 2009, the Company's allowance for loan losses amounted to $9.5 million, or 1.54% of total loans, as compared to $8.7 million, or 1.38% of total loans at June 30, 2009, and $7.0 million, or 1.12% of total loans at September 30, 2008. Net charge-offs for the third quarter totaled $3.2 million, or 0.51% of average loans.
Net Interest Margin
The Company's net interest margin was 3.03% for the third quarter of 2009, as compared to 2.92% for the second quarter of 2009. This 11 basis point increase in the linked-quarter net interest margin was largely due to a 24 basis point decrease in the Company's cost of funds. The Company has been focused on increasing core checking accounts which has contributed to this decrease in cost of funds. In addition, higher-costing time deposits that matured during the third quarter repriced at lower rates and contributed to the lower cost of funds.
Noninterest Income and Noninterest Expense
Noninterest income for the third quarter of 2009 increased $1.0 million, or 67.62%, as compared to the third quarter of 2008. The Company realized a $952,000 net gain on the sale of assets during the third quarter of 2009 as compared to a net gain of $13,000 during the third quarter of 2008. In addition, the Company experienced a $46,000 increase in mortgage banking income and a $57,000 increase in service charges on deposits. Mortgage banking activity increased, primarily due to higher refinancing as a result of lower market rates for mortgage loans. Service charges on deposits increased due to the growth in the number and amount of core checking accounts.
Noninterest expense increased by $84,000, or 1.63%, during the comparable third quarter periods. This increase was primarily due to a $207,000 increase in the Company's FDIC deposit insurance expense. Also during the comparable quarters, impairment on securities decreased by $135,000.
A sluggish economy and management's efforts to reduce exposures in the residential construction and land acquisition and development loan portfolio resulted in a decrease in outstanding loans of $9.9 million during the nine months ended September 30, 2009. Management expects that these efforts will continue and that loan demand will remain soft throughout 2009. However, the Company expects to extract market share gains in selective loan categories as a result of market disruptions stemming from a number of recently completed and announced mergers in the Charlotte market and with the Company's expansion directly into the Mecklenburg County, North Carolina market.
Total deposits increased by $20.1 million, or 3.5%, during the first nine months of 2009 to $601.6 million at September 30, 2009. This growth was driven by demand deposit accounts which increased by $25.1 million, or 20.43%, to $147.8 million at September 30, 2009. This strong growth was caused in part by positive publicity that the Company received during the first quarter of 2009 relating to our nationally recognized program for utilization of TARP funds for low interest mortgage loans. The strong growth was also partly attributable to retail and commercial demand deposit account incentives, enhanced treasury management services, and increased market share due to merger disruptions of competitors.
Despite the weak economic conditions that our industry is facing, the Company's capital position continues to be a source of strength during these uncertain times. The Bank's capital ratios continue to exceed all regulatory measures and the Bank is considered "well-capitalized" for regulatory purposes. The Company's capital ratio improved to 12.67% at September 30, 2009, compared to 12.45% at June 30, 2009, and 10.06% at September 30, 2008. Mr. Price commented, "Despite our strong capital position, last week the Company announced that it had filed a registration statement to sell approximately $30 million in common stock. Our Board of Directors elected to raise additional capital in order to repay the $20.5 million in TARP proceeds received from the U.S. Treasury Department last year and to pursue additional growth and acquisition opportunities that may become available."
About Citizens South Banking Corporation
Headquartered in Gastonia, North Carolina, Citizens South Bank was founded in 1904. Deposits are FDIC insured up to applicable regulatory limits. At September 30, 2009, the Bank had approximately $820.6 million in assets with 16 full-service offices in the Charlotte region, including Gaston, Iredell, Rowan, Mecklenburg, and Union counties in North Carolina, and York County, South Carolina. Citizens South Bank is an Equal Housing Lender and Member, FDIC. The Bank is a wholly-owned subsidiary of Citizens South Banking Corporation, and shares of the common stock of the Company trade on the NASDAQ Global Market under the ticker symbol "CSBC". The Company maintains a website at http://www.citizenssouth.com/ that includes information on the Company, along with a list of products and services, branch locations, current financial information, and links to the Company's filings with the SEC.
This news release contains certain forward-looking statements which include, but are not limited to, statements of our earnings expectations, statements regarding our operating strategy, and estimates of our future costs and benefits. These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Forward-looking statements speak only as of the date they are made and the Company is under no duty to update these forward-looking statements to reflect circumstances or events that occur after the date of the forward-looking statements or to reflect the occurrence of unanticipated events. A number of factors could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, changes in general economic conditions - either locally or nationally, competition among depository and financial institutions, the continuation of current revenue and expense trends, significant changes in interest rates, unforeseen changes in the Company's markets, and legal, regulatory, or accounting changes. The Company's reports filed from time to time with the Securities and Exchange Commission, including the Company's Form 10-K for the year ended December 31, 2008, describe some of these factors.
Important Tables Follow Citizens South Banking Corporation Quarterly Financial Highlights (Unaudited) 2009 2008 -------------------------------- ------------------------- At and for the quarters ended ----------------------------- September 30 June 30 March 31 December 31 September 30 ------------ ------- -------- ----------- ------------ (Dollars in Thousands, Except per Share Data) Summary of Operations: Interest income - taxable equivalent $9,620 $9,820 $9,829 $10,480 $10,940 Interest expense 3,947 4,346 4,702 5,172 5,424 ----- ----- ----- ----- ----- Net interest income - taxable equivalent 5,673 5,474 5,127 5,308 5,516 Less: Taxable equivalent adjustment 139 142 144 134 134 --- --- --- --- --- Net interest income 5,534 5,332 4,983 5,174 5,382 Provision for loan losses 3,975 1,950 900 1,460 720 ----- ----- --- ----- --- Net interest income after provision for loan losses 1,559 3,382 4,083 3,714 4,662 Noninterest income 2,501 2,016 1,249 1,254 1,492 Noninterest expense 5,229 5,239 4,937 4,496 5,145 ----- ----- ----- ----- ----- Income (loss) before income taxes (1,169) 159 395 472 1,009 Income tax (benefit) expense (672) (155) (61) (9) 187 ----- ----- ---- --- --- Net income (loss) (497) 314 456 481 822 Preferred stock dividend and discount on preferred stock 262 259 253 54 - --- --- --- -- --- Net income (loss) available to common stockholders $(759) $55 $203 $427 $822 ===== === ==== ==== ==== Per Common Share Data: Net income: Basic $(0.10) $0.01 $0.03 $0.06 $0.11 Diluted (0.10) 0.01 0.03 0.06 0.11 Weighted average shares outstanding: Basic 7,419,206 7,404,218 7,392,742 7,361,434 7,358,086 Diluted 7,419,206 7,404,218 7,392,742 7,379,466 7,386,513 End of period shares outstanding 7,526,854 7,526,854 7,515,957 7,515,957 7,516,816 Cash dividends declared $0.04 $0.04 $0.04 $0.085 $0.085 Book value 11.08 11.11 11.19 11.21 11.02 Tangible book value 7.06 7.07 7.14 7.15 6.84 End of Period Balances: Total assets $820,608 $836,283 $851,390 $817,213 $823,030 Loans, net of deferred fees 616,793 629,962 635,008 626,688 628,496 Investment securities 90,174 97,452 114,933 109,180 107,522 Interest-earning assets 734,938 751,733 765,747 733,448 732,683 Deposits 601,614 616,233 628,571 581,488 584,928 Stockholders' equity 103,990 104,158 104,663 104,720 82,827 Quarterly Average Balances: Total assets $831,268 $841,169 $829,319 $820,166 $817,613 Loans, net of deferred fees 624,112 635,645 626,722 627,888 615,755 Investment securities 94,674 107,140 110,502 108,146 116,269 Interest-earning assets 741,974 751,381 740,404 733,858 724,949 Deposits 609,243 616,926 593,166 579,967 581,162 Stockholders' equity 103,913 104,813 104,884 88,498 82,478 Financial Performance Ratios: Return on average assets (annualized) (0.36)% 0.0% 0.10% 0.21% 0.40% Return on average common equity (annualized) (3.61) 0.26 0.98 1.92 3.97 Return on tangible common equity (annualized) (6.77) 1.48 2.88 3.39 8.45 Noninterest income to average total assets (annualized) 1.20 0.96 0.60 0.61 0.73 Noninterest expense to average total assets (annualized) 2.52 2.49 2.39 2.19 2.52 Efficiency ratio 65.08 71.29 79.22 69.94 74.85 Citizens South Banking Corporation Quarterly Financial Highlights - continued (Unaudited) 2009 2008 -------------------------------- ------------------------- At and for the quarters ended ----------------------------- September 30 June 30 March 31 December 31 September 30 ------------ ------- -------- ----------- ------------ (Dollars in Thousands, Except per Share Data) Net Interest Margin (annualized): Yield on earning assets 5.13% 5.26% 5.38% 5.67% 5.99% Cost of funds 2.30 2.54 2.90 3.02 3.13 ---- ---- ---- ---- ---- Net interest spread 2.83 2.72 2.48 2.65 2.86 Net interest margin (1) 3.03 2.92 2.81 2.84 3.02 Credit Quality Information and Ratios: Allowance for loan losses - beginning of period $8,685 $8,730 $8,026 $7,027 $6,757 Add: Provision for loan losses 3,975 1,950 900 1,460 720 Less: Net charge-offs 3,161 1,995 196 461 450 ----- ----- --- --- --- Allowance for loan losses - end of period 9,499 8,685 8,730 8,026 7,027 Nonperforming loans 10,698 10,360 6,267 3,032 3,335 Other real estate owned (OREO) 3,444 2,111 1,672 2,601 1,214 ----- ----- ----- ----- ----- Nonperforming assets 14,142 12,471 7,939 5,633 4,549 Allowance for loan losses to total loans 1.54% 1.38% 1.37% 1.28% 1.12% Net charge-offs to average loans 0.51 0.32 0.03 0.07 0.07 Nonperforming loans to total loans 1.73 1.64 0.98 0.48 0.53 Nonperforming assets to total assets 1.72 1.49 0.93 0.69 0.55 Nonperforming assets to total loans and OREO 2.28 1.97 1.25 0.89 0.72 Capital Ratios: Tangible common equity ratio 6.72% 6.61% 6.54% 6.82% 6.94% Average equity to average total assets 12.50 12.46 12.65 10.79 10.09 Equity to assets at period end 12.67 12.45 12.29 12.81 10.06 (1) Net interest margin is calculated on a fully tax equivalent basis Citizens South Banking Corporation Condensed Consolidated Statements of Financial Condition September 30, 2009 December 31, 2008 ------------------ ----------------- (unaudited) (Dollars in thousands except per share data) ASSETS Cash and due from banks $9,846 $9,444 Interest-earning bank balances 35,650 613 ------ --- Cash and cash equivalents 45,496 10,057 Investment securities available- for-sale, at fair value 79,112 109,180 Investment securities held to maturity, at amortized cost 11,062 - Loans receivable, net of deferred fees 616,793 626,688 Allowance for loan losses (9,499) (8,026) ------- ------ Loans, net 607,294 618,662 Other real estate owned 3,444 2,601 Premises and equipment, net 15,367 16,834 Accrued interest receivable 2,317 2,609 Federal Home Loan Bank stock, at cost 4,149 4,793 Bank owned life insurance 17,341 16,813 Intangible assets 30,282 30,525 Other assets 4,744 5,139 ----- ----- Total assets $820,608 $817,213 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Deposits: Demand deposit accounts $147,796 $122,731 Money market deposit accounts 115,727 103,271 Savings accounts 10,999 10,708 Time deposits 327,092 344,778 ------- ------- Total deposits 601,614 581,488 Borrowed money 110,711 124,365 Other liabilities 4,293 6,640 ----- ----- Total liabilities 716,618 712,493 Stockholders' Equity Preferred stock, $0.01 par value, 1,000,000 shares authorized, 20,500 shares issued and outstanding at September 30, 2009 and December 31, 2008 20,569 20,507 Common stock, $0.01 par value, 20,000,000 shares authorized, 9,062,727 shares issued at June 30, 2009 and December 31, 2008; 7,526,854 shares outstanding at September 30, 2009 and 7,515,957 shares outstanding at December 31, 2008 48,587 48,099 Retained earnings, substantially restricted 34,270 36,089 Accumulated other comprehensive income 564 25 --- -- Total stockholders' equity 103,990 104,720 ------- ------- Total liabilities and stockholders' equity $820,608 $817,213 ======== ======== Citizens South Banking Corporation Condensed Consolidated Statements of Operations (Unaudited) Three Months Nine Months Ended September 30, Ended September 30, 2009 2008 2009 2008 ---- ---- ---- ---- (Dollars in thousands except per share data) Interest Income Loans and loan fees $8,376 $9,415 $25,176 $28,160 Investment securities 1,077 1,377 3,623 3,952 Interest-bearing deposits 28 13 46 149 -- -- -- --- Total interest income 9,481 10,805 28,845 32,261 Interest Expense Deposits 2,791 3,997 9,515 13,397 Borrowed funds 1,156 1,426 3,480 3,783 ----- ----- ----- ----- Total interest expense 3,947 5,423 12,995 17,180 ----- ----- ------ ------ Net interest income 5,534 5,382 15,850 15,081 Provision for loan losses 3,975 720 6,825 1,815 ----- --- ----- ----- Net interest income after provision for loan losses 1,559 4,662 9,025 13,266 Noninterest Income Service charges on deposit accounts 859 802 2,427 2,256 Mortgage banking income 215 169 975 650 Other loan fees 36 84 175 296 Dividends on FHLB stock - 40 - 168 Increase in cash value of bank-owned life insurance 202 195 570 571 Net gain on sale of assets 952 13 1,016 275 Other noninterest income 237 189 603 549 --- --- --- --- Total noninterest income 2,501 1,492 5,766 4,765 Noninterest Expense Compensation and benefits 2,570 2,553 7,588 7,601 Occupancy and equipment expense 632 662 1,958 2,012 Professional fees 233 200 707 639 Amortization of intangible assets 81 126 243 402 FDIC deposit insurance 232 25 825 58 Valuation adjustment on other real estate owned - - 175 - Restructuring expenses - - - 220 Impairment of securities 333 468 547 468 Other noninterest expense 1,148 1,111 3,362 3,330 ----- ----- ----- ----- Total noninterest expense 5,229 5,145 15,405 14,730 Net income (loss) before income taxes (1,169) 1,009 (614) 3,301 Income tax expense (benefit) (672) 187 (887) 647 ----- --- ----- --- Net income (loss) (497) 822 273 2,654 Preferred stock dividend and discount on preferred stock 262 - 774 - --- --- --- --- Net income (loss) available to common stockholders $(759) $822 $(501) $2,654 ===== ==== ===== ====== Net income (loss) per common share: Basic $(0.10) $0.11 $(0.07) $0.36 Diluted $(0.10) $0.11 $(0.07) $0.36 Weighted average common shares outstanding: Basic 7,419,206 7,358,086 7,405,199 7,380,236 Diluted 7,419,206 7,386,513 7,405,199 7,414,274Citizens South Banking Corporation
CONTACT: Gary F. Hoskins, CFO, +1-704-884-2263,
Web Site: http://www.citizenssouth.com/
OLATHE, Kan., Oct. 19 /PRNewswire-FirstCall/ -- Global Ground Support LLC (GGS), a subsidiary of Air T, Inc. (Nasdaq Capital Market: AIRT) announced that it has signed agreements with a company based in Millesimo, Italy, Fresia S.p.A., to manufacture and distribute Fresia snow removal equipment in the United States. Fresia was established in 1923 and is a worldwide provider of snow removal equipment, heavy duty trucks and other industrial vehicles.
GGS also recently displayed two new product lines at the Inter-Airport Europe airport equipment show in Munich. The Global ORION is an 880 gallon deicer which will provide an economical deicing solution for regional airlines and airports around the world. The Orion is a self-propelled aircraft deicer that uses four wheel drive and steer capabilities to move nimbly and efficiently while deicing aircraft. The platform height is over forty feet which enables the Orion to deice a wide variety of aircraft. The second product, the Global Glycol Recovery Vehicle, is chassis mounted and designed to recover deicing fluids on airport ramps and gates. This unit has exceptional performance and is expected to meet the ever increasing environmental demands that airports and the industry are facing.
Walter Clark, Chairman and Chief Executive Officer of Air T, commented, "We are delighted to enter into this relationship with Fresia. They are a company with a long history of outstanding and innovative products and share many of our business beliefs and principles. We are also excited about these new product offerings and believe they are timely and innovative answers to the market place needs. The ORION was well received at the Munich show."
Air T, through its subsidiaries, provides overnight air freight service to the express delivery industry, manufactures and sells aircraft deicers and other special purpose industrial equipment, and provides ground support equipment and facilities maintenance to airlines. Air T is one of the largest, small-aircraft air cargo operators in the United States. Air T's Mountain Air Cargo and CSA Air subsidiaries currently operate a fleet of single and twin-engine turbo-prop aircraft daily in the eastern half of the United States, Puerto Rico and the Caribbean Islands. Air T's Global Ground Support subsidiary manufactures deicing and other specialized military and industrial equipment and is one of the largest providers of deicers in the world. The Global Aviation Services subsidiary provides ground support equipment and facilities maintenance to domestic airline customers.Air T, Inc.
CONTACT: Rick Smith, Chief Executive Officer of Global Ground Support,
Web Site: http://www.airt.net/
GREENWOOD VILLAGE, Colo., Oct. 19 /PRNewswire-FirstCall/ -- Red Robin Gourmet Burgers, Inc. (Red Robin) - known for serving high-quality gourmet burgers in a kid- and family-friendly atmosphere for the past 40 years - will open a new Red RobinÂ® restaurant in National City, located at 3030 Plaza Bonita Road, in the Plaza Bonita Shopping Mall on Monday, Nov. 2 at 11 a.m. To support child safety efforts in the National City community, Red Robin will give away Child ID Kits for FREE* during grand opening week from Nov. 2 to 8. In addition, to celebrate Red Robin's ongoing commitment to kids and families, the National City restaurant has partnered with the National Center for Missing & Exploited Children (NCMEC) to host a Burgers With A HeartÂ® fundraiser during grand opening week. Red Robin will donate 50 cents from every gourmet burger sold during this time to NCMEC to support its child safety initiatives.
"We look forward to serving craveable gourmet burgers to the community in the National City area, while also supporting child safety efforts in the local community through our Child ID Kit program," said Eric Houseman, Red Robin president and chief operating officer. "We invite everyone to come to Red Robin to enjoy one of our more than two dozen high-quality gourmet burgers, learn more about child safety, and help us support the National Center for Missing & Exploited Children."
Red Robin focuses its philanthropic support on local and national causes that promote the health, welfare and education of children, families and citizens in the communities it serves. Because Red Robin is all about kids and families, its ongoing partnership with NCMEC continues to grow through the company's new restaurant openings and additional programs such as Red Robin's Kids Cook-Off.
"On behalf of the National Center for Missing & Exploited Children, I would like to thank Red Robin for their generous support of our mission," said Robbie Callaway, NCMEC co-founder and past Chairman of the Board. "It is important that we empower families to make safer decisions for their children, and communication and education are vital tools in that effort. With Red Robin's support, we are able to reach many more families across the country through our child safety initiatives."
The 6,504-square-foot National City Red RobinÂ® restaurant will seat 244 guests and offers:
-- A family-friendly, come-as-you-are atmosphere -- Birthday celebrations complete with a free sundae and special birthday song, and an online eClub that awards kids a free kids' meal and adults a free gourmet burger for their birthday -- Kids' menu featuring trans-fat-free favorites like mac'n'cheese, as well as fruit and vegetable side options, such as apple slices, baby carrots with ranch dressing and mandarin orange slices -- Detailed allergen information that is also easy to understand -- A unique Unbridled culture that inspires Red Robin team members to consistently put guests' needs first and perform random acts of kindness that enrich the lives of their fellow team members and guests, and that positively impact the community -- In-school programs designed to create caring communities, including the U-ACTÂ® Program, a national character-building initiative and grant program specifically designed for middle and junior high schools each academic year
For more information about Red Robin and to find additional restaurant locations, please visit http://www.redrobin.com/.
About Red Robin Gourmet Burgers, Inc.
Red Robin Gourmet Burgers, Inc. (www.redrobin.com), a casual dining restaurant chain founded in 1969 that operates through its wholly-owned subsidiary, Red Robin International, Inc., has been serving up wholesome, fun, feel-good experiences in a kid- and family-friendly environment for the past 40 years. Red Robin, which was named one of Parents magazine's Ten Best Family Restaurants, is famous for serving more than two dozen insanely delicious(TM), high-quality gourmet burgers in a variety of recipes with Bottomless Steak FriesÂ®, as well as salads, soups, appetizers, entrees, desserts, and signature Mad MixologyÂ® Beverages. There are more than 400 Red RobinÂ® restaurants located across the United States and Canada, including corporate-owned locations and those operated by franchisees.
About the National Center for Missing & Exploited ChildrenÂ® (NCMEC)
The National Center for Missing & Exploited Children is a 501(c)(3) nonprofit organization. Since it was established by Congress in 1984, the organization has operated the toll-free 24-hour national missing children's hotline which has handled more than 2.3 million calls. It has assisted law enforcement in the recovery of more than 132,314 children. The organization's CyberTipline has handled more than 648,700 reports of child sexual exploitation and its Child Victim Identification Program has reviewed and analyzed more than 19,518,370 child pornography images and videos. The organization works in cooperation with the U.S. Department of Justice's office of Juvenile Justice and Delinquency Prevention. To learn more about NCMEC, call its toll-free, 24-hour hotline at 1-800-THE-LOST or visit its web site at www.missingkids.com.
*ID Kits available while supplies last.Red Robin Gourmet Burgers, Inc.
CONTACT: Jamie Winter of Red Robin Gourmet Burgers, +1-303-846-6108,
firstname.lastname@example.org; or Amanda Meyer of Linhart Public Relations,
+1-303-951-2558, email@example.com, for Red Robin Gourmet Burgers
Web Site: http://www.redrobin.com/
BOSTON, Oct. 19 /PRNewswire-FirstCall/ -- At a meeting held on October 19, 2009, the Board of Trustees of Eaton Vance National Municipal Opportunities Trust (the "Fund") , a closed-end investment company, voted to hold the Annual Meeting of Shareholders of the Fund on Friday, January 22, 2010 at 2:00 p.m. (EST). The meeting will be held at the principal office of the Fund, Two International Place, Boston, Massachusetts 02110. Proxy materials will be mailed on or about November 24, 2009 to shareholders of record on November 11, 2009. Shareholders will be asked to vote on the election of three Class I Trustees of the Fund.
The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. , one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $157.0 billion in assets as of September 30, 2009, offering individuals and institutions a broad array of investment products and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit http://www.eatonvance.com/.Eaton Vance Management
CONTACT: Investors of Eaton Vance Management, +1-800-262-1122
Web Site: http://www.eatonvance.com/
PITTSBURGH, Oct. 19 /PRNewswire-FirstCall/ -- A CONSOL Energy Inc. research executive told a Senate hearing today it was essential that any climate legislation carefully coordinate the development of carbon capture and storage (CCS) technologies with the timing and size of carbon dioxide emission reductions. He spoke at a field hearing of the U.S. Senate Committee on Environment and Public Works held in Pittsburgh.
"Coal is our most abundant energy resource and we need sustained, predictable investment in CCS coupled with the time to develop, demonstrate and commercialize it effectively," said Steven Winberg, vice president - Research and Development. "However, there is a key overarching issue. If the legislation forces significant reductions in U.S. greenhouse gas emissions before these new technologies are commercially deployable, we will negatively impact a significant part of the existing fleet of coal-fired power plants."
Winberg said that without allowing the time necessary to develop and fully deploy CCS at existing power plants before requiring significant reduction in emissions, the legislation would short-circuit promising technological developments. He said other impacts could include higher consumer electricity costs, power grid reliability problems, negative impacts to U.S. global competitiveness, and a missed opportunity for U.S. developed CCS technologies to be exported to other countries.
Winberg also warned the committee that unless cost containment provisions were included in the bill, job losses and significant economic dislocation could occur, particularly in states such as Pennsylvania. "We have seen estimates that net job losses could exceed 80,000 on a statewide basis in Pennsylvania," he noted. He said the climate change legislation passed by the House actually acknowledges that job loss will occur and contains an "adversely affected worker" provision to provide assistance to workers who lose their jobs as a result of the legislation. He pointed out that cost containment provisions would limit economic harm if congressional estimates of the cost of the legislation proved to be too low.
Winberg complimented Senator Arlen Specter and other members of the committee who are working to ensure that any climate change legislation moving through the Senate committee will contain appropriate provisions to help develop CCS technologies. Winberg added, however, that a failure to coordinate the technology development sections of the bill with the timing of emission reductions, or a failure to contain costs, would significantly harm Pennsylvania's economy, particularly in sectors dependent on affordable electricity.
CONSOL Energy Inc., a high-Btu bituminous coal and natural gas company, is a member of the Standard & Poor's 500 Equity Index and has annual revenues of $4.7 billion. It has 17 bituminous coal mining complexes in six states and reports proven and probable coal reserves of 4.5 billion tons. It received the U.S. Department of the Interior's Office of Surface Mining National Award for Excellence in Surface Mining for the company's innovative reclamation practices in 2002, 2003 and 2004. Also in 2003, the company was listed in Information Week magazine's "Information Week 500" list for its information technology operations. In 2002, the company received a U.S. Environmental Protection Agency Climate Protection Award. Additional information about the company can be found at its web site: http://www.consolenergy.com/. CNX Gas is a natural gas exploration and production company, and is a majority-owned subsidiary of CONSOL Energy Inc. Both companies are headquartered in the Pittsburgh area.CONSOL Energy Inc.
CONTACT: Thomas F. Hoffman, +1-724-485-4060
Web Site: http://www.consolenergy.com/
ROCHESTER, N.Y., Oct. 19 /PRNewswire-FirstCall/ -- Document Security Systems, Inc. (NYSE Amex: DMC; "DSS"), a world leader in the development and manufacturing of optical deterrent and authentication technologies that help prevent counterfeiting and brand fraud reported today that Rochester Institute of Technology (RIT) informed DSS in writing that it completed its testing commissioned by Hewlett Packard (NYSE: HPQ; "HP") of DSS AuthentiGuard DeterX(TM) Security Paper. RIT approved AuthentiGuard DeterX(TM) Security Paper as it scored the highest marks possible in several categories and is now an approved "HP Indigo Certified Substrate".
Patrick White, Chief Executive Officer and President of Document Security Systems, Inc., stated, "We are very pleased with the test results. The timing couldn't be better as the print market is moving fast towards secure papers such as DeterX(TM) that prevent the worldwide criminal epidemic known as, 'counterfeiting'. With this certification, our DeterX(TM) Security Paper can now be sold throughout the Hewlett Packard Indigo user client base. Our sales and marketing people are already reaching out to HP Indigo users. This particular paper prevents scanning and duplication and it can therefore be used on HP Indigo digital presses to secure coupons, event tickets, personalized prescription forms, gift certificates, school transcripts, government permits, almost any document, paper or plastic, requiring counterfeit prevention security."
Michael Caton, Chief Technology Officer of Document Security Systems, Inc. stated: "The DeterX(TM) secure paper product is only the beginning of our technological enhancements for the Hewlett Packard Indigo system. We are also testing our AuthentiGuard Prism(TM) technology on the HP Indigo with a client who is one of the largest printers in the world. AuthentiGuard Prism(TM) is a patent pending technology that hides variable alpha numeric data for authentication purposes that cannot be copied or scanned. This particular application is being tested for security labels for the food and drug industry."
David Wicker, SVP of DSS Research and Development, worked with RIT on the testing process.
A version of the AuthentiGuard DeterX(TM) is being sold exclusively by DSS at http://www.protectedpaper.com/.
About Document Security Systems, Inc
Document Security Systems is a world leader in the development of optical deterrent technologies that help prevent counterfeiting and brand fraud from the use of the most advanced scanners, copiers and imaging systems in the market. The company's patented and patent-pending technologies protect valuable documents and printed products from counterfeiters and identity thieves. Document Security Systems' customers, which include international governments, major corporations and world financial institutions, use its covert and overt technologies to protect a number of applications including, but not limited to, currency, vital records, brand protection, ID Cards, internet commerce, passports and gift certificates. Document Security Systems' strategy is to become the world's leading producer of cutting-edge security technologies for paper, plastic and electronically generated printed assets.
More information about Document Security Systems, Inc. can be found at http://www.documentsecurity.com/ and http://www.plasticprintingprofessionals.com/, http://www.protectedpaper.com/, and http://www.dpirochester.com/.
Safe Harbor Statement
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. These forward-looking statements include, but are not limited to statements regarding the performance of our AuthentiGuard DeterX(TM) paper line and the anticipated test results of our AuthentiGuard Prism(TM) technology and/or statements preceded by, followed by or that include the words "believes," "could," "expects," "anticipates," "estimates," "intends," "plans," "projects," "seeks," or similar expressions, all of which involve uncertainty and risk. Many of these risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed with the Securities and Exchange Commission (the "SEC"), and in any subsequent reports filed with the SEC, all of which are available at the SEC's website at http://www.sec.gov/. It is possible the Company's performance in these matters may differ from expectations due to a variety of factors including, but not limited to, changes in economic and business conditions in the world, increased competitive activity, consolidation among its competitors and customers, technology advancements, unexpected costs and charges, adequate funding for plans, regulatory and other approvals and failure to implement all plans, for whatever reason. It is not possible to foresee or identify all such factors. Any forward-looking statements in this report are based on current conditions; expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected. The Company makes no commitment to update any forward-looking statement included herein, or disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement.
For information contact: Contact: Jody Jansen Company: Document Security Systems, Inc. Title: Shareholder Relations Voice: 585-232-5440Document Security Systems, Inc.
CONTACT: Jody Jansen, Document Security Systems, Inc., Shareholder
Web Site: http://www.documentsecurity.com/
SINGAPOUR et BOSTON, October 19 /PRNewswire/ --
- La société embauche des professionnels dans le domaine des services, de la consultation et des ventes pour servir les clients et les prospects locaux
Eagle Investment Systems LLC, un important fournisseur de technologies de services financiers et une filiale en propriété exclusive de BNY Mellon Asset Servicing, a annoncé aujourd'hui l'ouverture d'un nouveau centre d'exploitation à Singapour. Ce nouveau bureau est le premier d'Eagle en Asie(1)*. Bien qu'Eagle réponde aux besoins de sa clientèle dans la région depuis plus de sept ans déjà, la société a décidé récemment d'y établir un bureau face à la croissance soutenue des occasions d'affaires en Asie-Pacifique ces deux dernières années.
Au lendemain de la récente crise financière, il est évident que les sociétés d'investissement de l'Asie-Pacifique ont décidé de concentrer de nouveau leurs efforts sur la gestion du risque et la gestion de données, entraînant par le fait mÃªme une demande accrue pour les services d'Eagle. Tout comme leurs équivalents dans d'autres marchés, ces sociétés cherchent à établir ou à développer des relations avec des entreprises de logiciels financiers afin de renforcer leurs activités. De mÃªme, puisqu'un plus grand nombre de sociétés conservent leurs anciennes applications au sein de leur système, il est de plus en plus important pour elles de travailler avec des vendeurs qui sont en mesure de leur fournir des produits et des services qui conviennent bien à leurs nombreuses applications patrimoniales, anciennes et nouvelles. Ã‰tant donné que la vérification au préalable est maintenant effectuée à plus grande échelle, il devient primordial que les vendeurs de logiciels fournissent des modèles qui demeureront stables et intacts pour les cinq à dix prochaines années afin d'assurer le succès de ce processus.
<< Les activités de nos clients sont de plus en plus sophistiquées et complexes, ce qui entraîne des changements rapides dans leurs exigences en matière de technologie. Ils ont désormais besoin d'une meilleure visibilité dans leurs données ainsi que d'une plus grande précision et automatisation de leur comptabilité d'investissement, sans oublier la capacité de mesurer de façon beaucoup plus détaillée le rendement de leurs investissements. Eagle peut leur offrir les solutions dont ils ont besoin >>, affirme John Legrand, directeur général d'Eagle pour l'Asie-Pacifique et la région EMEA. << Ainsi, la prochaine étape pour nous était d'assurer une présence permanente en Asie et un soutien sur place adéquat. >>
Dirigé par M. Legrand, le bureau d'Eagle à Singapour est composé d'une équipe locale de professionnels aguerris qui contribuera au développement de nouveaux réseaux de vente dans la région. L'équipe travaillera également avec une liste croissante de clients potentiels, en plus de gérer les relations avec les clients actuels et de faciliter la mise en oeuvre des programmes clients :
-- Danny Lim dirigera les efforts de vente dans la région. Il possède une expérience de 12 ans dans le secteur des services financiers en Asie et exerçait plus récemment les fonctions de directeur des ventes chez Thomson Reuters pour la région du Sud-Est asiatique. Auparavant, il a occupé pendant quatre ans et demi divers postes de vente chez Bloomberg L.P. dans différentes régions en Asie. -- William Tan est responsable des services-conseils en mise en oeuvre ainsi que de la promotion des ventes. Fort de plus de 20 ans d'expérience, M. Tan a passé les 14 dernières années à travailler dans le domaine des finances. Il se joint à Eagle après avoir été conseiller principal chez Thomson Reuters.
Eagle a aussi recruté deux autres spécialistes professionnels qui commenceront à travailler au cours du quatrième trimestre de cette année. Le premier s'occupera des mises en oeuvre et des conseils aux clients, tandis que le second gérera toutes les relations avec la clientèle locale.
Outre l'anglais, les membres de l'équipe parlent de nombreux dialectes asiatiques dont le bahasa melayu, le mandarin, le cantonais, le hokkien et le teochew.
<< Les marchés en expansion en Asie, notamment la Chine, sont essentiels pour l'avenir d'Eagle. C'est pourquoi nous engageons les ressources, les personnes et les capitaux nécessaires afin de profiter au maximum des possibilités offertes dans la région >>, souligne pour sa part John Lehner, président d'Eagle Investment Systems. << Singapour, grâce à son emplacement stratégique et à son environnement extrÃªmement propice aux affaires, est un point de départ idéal pour le développement de nos activités en Asie. Avec ce nouveau centre d'exploitation asiatique, nous venons de faire un grand pas en vue d'accroître notre présence et notre franchise en Asie dans le but de mieux servir notre clientèle en pleine expansion. >>
Le nouveau bureau est situé au One Temasek Avenue, #02-01 Millenia Tower à Singapour, à mÃªme les bureaux de BNY Mellon.
Eagle a son siège social aux Etats-Unis et possède des bureaux dans divers pays dont l'Australie, le Canada et le Royaume-Uni.
Eagle Investment Systems LLC, filiale en propriété exclusive de BNY Mellon Asset Servicing, est un prestataire international de technologies de services financiers. Eagle propose des technologies et des services d'avant-garde pour la gestion de données, la comptabilité d'investissement et la mesure du rendement. La gamme de produits d'Eagle est offerte sous forme d'application installée ou par le biais d'Eagle ACCESS(SM), son fournisseur de services applicatifs.
BNY Mellon Asset Servicing offre à ses clients dans le monde entier une vaste gamme de capacités de gestion d'actifs spécialisés, y compris des services de dépositaire et de fonds, des prÃªts de titres ainsi que des services en matière de rendement, d'analyse et de traitement.
BNY Mellon est la marque de The Bank of New York Mellon Corporation (NYSE : BK). BNY Mellon est une société internationale de services financiers dont la mission est d'aider ses clients à gérer et à transiger leurs actifs financiers. Présente dans 34 pays et sur plus de 100 marchés, la société est l'un des principaux prestataires de services financiers pour les institutions, les entreprises et les particuliers bien nantis. Elle fournit des services de premier plan en gestion d'actifs et de patrimoine, en traitement d'actifs, en émission, en compensation et en trésorerie grâce à une équipe internationale orientée vers la clientèle. En plus de compter 20,7 billions USD en actifs sous garde et sous administration et approximativement 926 milliards USD en actifs sous gestion, la société assure le service de plus de 11,8 billions USD de dettes en souffrance et traite en moyenne chaque jour 1,8 billion USD en paiements internationaux. Pour en savoir davantage, veuillez consulter le site www.bnymellon.com.
(1) *Le nom d'entité local des activités qu'exerce Eagle à Singapour est Eagle Investment Systems Singapore Pte. LtdEagle Investment Systems LLC
Emily Bonkowski, Eagle Investment Systems, +1-617-219-0196, firstname.lastname@example.org; ou Laurel Teo, Financial Dynamics, +65-6224-2987, email@example.com
TORONTO, Oct. 19 /PRNewswire-FirstCall/ -- Kingsway Financial Services Inc. ("Kingsway" or the "Company") announced today that its indirect wholly owned subsidiary, Kingsway America Inc. ("KAI"), has disposed of its entire interest in KAI's wholly owned subsidiary Walshire General Assurance Company ("Walshire"). Walshire is the sole shareholder of Lincoln General Insurance Company ("Lincoln General"). All of the stock of Walshire has been donated to charity, and with this disposition Lincoln General ceases being a member of Kingsway's consolidated group of companies.
Kingsway is of the view that disposing of Lincoln General at this time will provide all stakeholders, including policyholders, shareholders and creditors with improved long-term value and is consistent with Kingsway's prior determination that it will not continue to voluntarily fund Lincoln General's reserve shortfalls.
This disposition will also assist Kingsway in continuing to meet its regulatory and contractual obligations in respect of Lincoln General. These obligations include the payment to Lincoln General pursuant to a US$10 million surplus note facility agreement; continued compliance with a run-off management agreement, including certain continued support to the run-off management team at Lincoln General; and continuing guarantee and reinsurance obligations to inter-Company and third party insurance providers in respect of certain Lincoln General obligations. Other than the surplus note facility, quantification of the remaining Lincoln General obligations on Kingsway has not been completed but does not appear to be material to Kingsway at this time. Kingsway will update the market if this assessment changes.
In addition, Kingsway has also sold substantially all of the assets of Avalon Risk Management Inc.
Kingsway's recent financial performance has been adversely impacted by historic business strategies and practices that proved to be unprofitable. These dispositions are an important step in Kingsway's previously announced transformation plan to address and bring an end to this legacy.
Kingsway's decision today is in furtherance of its focus on its profitable core business.
This press release includes forward-looking statements that are subject to risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. The words "anticipate", "expect", "believe", "may", "should", "estimate", "project", "intend", "forecast" or similar words are used to identify such forward-looking information. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management of Kingsway. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, see Kingsway's securities filings, including its 2008 Annual Report under the heading Risk Factors in the Management's Discussion and Analysis section. The securities filings can be accessed on the Canadian Securities Administrators' website at http://www.sedar.com/, and on the EDGAR section of the U.S. Securities and Exchange Commission's website at http://www.sec.gov/ or through Kingsway's website at http://www.kingsway-financial.com/. Kingsway disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Kingsway Financial Services Inc. ("Kingsway" or the "Company") is a leading non-standard automobile insurer and commercial automobile insurer in North America. Kingsway's primary businesses are the insuring of automobile risks for drivers who do not meet the criteria for coverage by standard automobile insurers, and commercial automobile insurance. The Company operates through wholly-owned insurance subsidiaries in Canada and the U.S. which it is currently consolidating into three operating units to reduce overhead and strengthen its competitive position. The common shares of Kingsway Financial Services Inc. are listed on the Toronto Stock Exchange and the New York Stock Exchange, under the trading symbol "KFS".Kingsway Financial Services Inc.
GREENWICH, Conn., Oct. 19, 2009 /PRNewswire-FirstCall/ -- Genesee & Wyoming Inc. (GWI) announces the following conference call and webcast:
WHAT: GWI Q3 2009 Financial Release Conference Call WHEN: November 3, 2009 at 11 a.m. EST WHERE: http://www.gwrr.com/ and click on the "Investors" tab (listen only)
Conference Call Dial-In Numbers -- in U.S., call (800) 230-1092; outside U.S., call (612) 234-9960.
If you are unable to participate during the live conference call and webcast, the call will be archived at http://www.gwrr.com/ for 30 days (click the "Investors" tab). Telephone replay is available for 30 days beginning at 1 p.m. EST on Nov. 3 by dialing (800) 475-6701 (or outside U.S., dial 320-365-3844). The access code is 974251.
GWI owns and operates short line and regional freight railroads in the United States, Canada, Australia and the Netherlands. Operations currently include 63 railroads organized in nine regions, with more than 6,800 miles of owned and leased track and approximately 3,000 additional miles under track access arrangements. GWI provides rail service at 16 ports in North America and Europe and performs contract coal loading and railcar switching for industrial customers.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Genesee & Wyoming's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
CONTACT: Michael Williams, GWI Corporate Communications 1-203-629-3722 Web site: http://www.gwrr.com/Genesee & Wyoming Inc.
CONTACT: Michael Williams, GWI Corporate Communications,
Web Site: http://www.gwrr.com/
WEST BEND, Wis., Oct. 19 /PRNewswire/ -- Gene Sommers, owner of Arrow Power Center Inc., located at 7043 Hwy 144 N., recently added U-Haul truck and trailer rentals to his business, which includes small-engine service and repair, and the rental of lawn and garden equipment.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090622/LA34860LOGO-b) A photo accompanying this release is available at: http://www.uhaul.com/about/pr_images.aspx?name=ArrowPowerCenterInc
Families needing the finest in moving services now will have increased convenience and a shorter distance to travel when moving, which not only will make their move easier but also will have the positive effect of reducing the amount of carbon emissions released into the atmosphere. U-Haul partnering with business owners across North America to increase convenience for customers while helping our environment is just one of the programs that support U-Haul Company's Corporate Sustainability initiatives.
Arrow Power Center Inc. can now offer its customers a variety of moving equipment and supplies designed specifically for moving household furnishings, including moving vans, open trailers, closed trailers, furniture pads, appliance dollies, furniture dollies, tow dollies and auto transports.
"I added U-Haul products and services to expand the rental part of my business offering more to my customers and receiving more exposure in the community so that I could increase my customer base," Sommers said.
"U-Haul is proud to be partnering with a quality independent business such as Arrow Power Center Inc.," exclaimed Mike Schneider, president, U-Haul Company of Eastern Wisconsin. "Gene is a great example of the type of successful business relationship U-Haul has established in order to build and maintain a strong network of more than 15,000 independent dealers across North America."
For more information, or to rent your moving equipment today, call 262-335-3300. Business hours of operation are: Mon. - Thurs. 8 a.m. - 6 p.m.; Fri. and Sat. 8 a.m. - 5 p.m. and Sun. 8 a.m. - 2 p.m.
Since 1945, U-Haul has been the best choice for the do-it-yourself mover, with a network of more than 15,800 locations in all 50 United States and 10 Canadian provinces. U-Haul customers' patronage has enabled the U-Haul fleet to grow to approximately 101,000 trucks, 76,000 trailers and 34,000 towing devices. U-Haul offers more than 395,000 rooms and approximately 35 million square feet of storage space at nearly 1,090 owned and managed facilities throughout North America. U-Haul is the consumer's number one choice as the largest installer of permanent trailer hitches in the automotive aftermarket industry. As one of the nation's largest retailers of propane, U-Haul supplies alternative-fuel for vehicles and backyard barbecues.
U-Haul was founded by a Navy veteran who grew up in the Great Depression. Tires and gas were still rationed or in short supply during the late 1940s when U-Haul began serving U.S. customers. Today, that background is central to the U-Haul Sustainability Program: "Serving the needs of the present without compromising the ability of future generations to meet their own needs." Our commitment to reduce, reuse and recycle includes fuel efficient moving vans, neighborhood proximity, moving box reuse, moving pads made from discarded material and packing peanuts that are 100 percent biodegradable. Learn more about these facts and others at http://www.uhaul.com/sustainability.
Contact: Joanne Fried Kelie Hale U-Haul Public Relations (602) 263-6194 (602) 263-6772 faxPhoto: http://www.newscom.com/cgi-bin/prnh/20090622/LA34860LOGO-b
CONTACT: Joanne Fried or Kelie Hale, both of U-Haul Public Relations,
+1-602-263-6194, fax, +1-602-263-6772
Web Site: http://www.uhaul.com/
SANTA CLARA, Calif., Oct. 19 /PRNewswire-FirstCall/ -- Extreme Networks, Inc. today announced that it will showcase its RUS Accepted next-generation Ethernet Transport solutions at the Mid-America Telecom Showcase & Seminar (MATSS), October 19-20, 2009 at the Hyatt Regency Crown Center in Kansas City, Missouri.
The company will highlight how its Ethernet Transport solutions enable carriers to increase network longevity by gracefully expanding video and other services on their networks, delight their subscribers with proactive service management, and lower their total cost of ownership by deploying easy-to-operate next-generation networks.
A Diamond sponsor of MATSS, Extreme Networks has the honor of addressing attendees at the general session. Extreme Networks will highlight a 10 Gigabit Ethernet Transport reference architecture built with the company's Metro Ethernet Forum (MEF) certified and RUS-Accepted SummitÂ® and BlackDiamondÂ® Ethernet transport switch families.
Extreme Networks, Inc.
Extreme Networks provides converged Ethernet networks that support data, voice and video for enterprises and service providers. The company's network solutions feature high performance and high availability switching that deliver insight and control enabling customers to solve their real-world business communications challenges. Operating in more than 50 countries, Extreme Networks provides wired and wireless secure LANs, data center infrastructure and Service Provider Ethernet transport solutions that are complemented by global, 24x7 service and support. For more information, visit http://www.extremenetworks.com/.
Except for the historical information contained herein, the matters set forth in this press release, including without limitation statements as to features and benefits of ExtremeXOS and Universal Port, BlackDiamond and Summit products are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements speak only as of the date. Because such statements deal with future events, they are subject to risks and uncertainties, including network design and actual results of use of the product in different environments. We undertake no obligation to update the forward-looking information in this release. Other important factors which could cause actual results to differ materially are contained in the Company's 10-Qs and 10-Ks which are on file with the Securities and Exchange Commission. http://www.sec.gov/
Â© 2009 Extreme Networks, Inc. All rights reserved. Extreme Networks, ExtremeXOS, BlackDiamond and Summit are either registered trademarks or trademarks of Extreme Networks, Inc. in the United States and other countries. All other trademarks are the property of their respective owners.Extreme Networks, Inc.
CONTACT: Greg Cross, Extreme Networks Public Relations, +1-408-579-3483,
Web Site: http://www.extremenetworks.com/
NEW YORK, Oct. 19 /PRNewswire-FirstCall/ -- InternetArray, Inc. announced today it has obtained additional domains that will be a key aspect to its overall marketing strategy for PremierGoldTraders.com. Set to launch later this month, the website will provide a safe and convenient way for customers to transform unwanted or damaged gold jewelry into cash. Popular viral videos have been linked to increasing the awareness of a brand while driving traffic and increasing conversion rates.
"Use of spoofs and other video mashups has become a popular way to drive traffic on the Internet," said Michael Black, CEO of Internet Array. "We plan to use this method in our marketing mix during launch to drive a high volume of visitors to the site which will be essential to the success of PremierGoldTraders.com."
You can find InternetArray on Facebook at http://www.facebook.com/home.php?#/pages/INAR-InternetArray/299881755295.
About InternetArray, Inc. (http://www.internetarray.com/)
InternetArray, Inc. provides guidance and investment for innovative, early stage Internet companies. The Company's mission is to identify and develop collaborative business partners into viable and profitable companies.
This press release may contain certain statements that are not descriptions of historical information, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These forward-looking statements refer to matters that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated.
CONTACT: Michael Black, (410) 295-3388, firstname.lastname@example.orgInternetArray, Inc.
CONTACT: Michael Black, (410) 295-3388, email@example.com
LOS ANGELES, Oct. 19 /PRNewswire/ -- TV Land has stirred up a magical brew of Halloween-themed episodes of "Roseanne" to celebrate All Hallow's Eve on Saturday, October 31 from 10:00PM - 2:00AM (ET/PT). Tune in to "Roseanne's Wicked Halloween Bash" for a haunting night of episodes, including when the Conners have a spooky night of fun with a Ouija board, a hilarious parody of the horror flick "Rosemary's Baby," their annual Halloween party at the lodge and finally, a night filled with antics that leads to the arrival of a new family member - Jerry Garcia Conner.
Below are the episodes scheduled to air during "Roseanne's Wicked Halloween Bash" (all times ET/PT):
10:00 p.m. - "Boo!"
Halloween takes on a whole new meaning when Dan and Roseanne square off to see who can create the best homemade horror. And just when things couldn't get any creepier, Darlene decides to join in on the act. By the end, the whole family partakes in the festivities to see who can create the scariest, most frightful costume and pull off the ultimate Halloween prank. At the Conner "Castle of Horror," no one's safe from the terror that fills the house.
10:30 p.m. - "Trick or Treat"
It's Halloween, and Roseanne is going to a costume party at the Lobo Lounge. When she shows up dressed as a bearded lumberjack, she is a little too convincing and decides to keep up the charade.
11:00 p.m. - "Trick Me Up, Trick Me Down"
It's Dan and Roseanne's favorite holiday -- Halloween -- and they get in the spirit by scaring their obnoxious neighbor, Kathy, with a gruesome trick. Later, Kathy and her husband unexpectedly show up at Dan's annual Halloween party at the Lobo Lodge, and Roseanne is sure Kathy has come to seek revenge on the Conners.
11:30 p.m. - "Halloween IV"
Roseanne refuses to take part in the annual Halloween festivities. In a hilarious take-off of "A Christmas Carol," Lanford's "Goddess of Gore" (Roseanne) is visited by the ghosts of Halloween past, present and future, who reflect on her old Halloween antics in an attempt to change her mind and get her to enjoy Halloween again.
12:00 a.m. - "Halloween V"
Roseanne's friend Nancy (Sandra Bernhard) thinks that Dan dislikes her, so to convince her otherwise, Roseanne persuades Dan to pull a Halloween prank on her. After all, Dan would never waste a "cool" prank on someone he doesn't like! Meanwhile, David and Darlene don't hesitate a moment to spook the master prankster of them all - Roseanne!
12:30 a.m. - "Skeleton in the Closet"
It's Roseanne's favorite holiday, Halloween, and Leon's planning a "gay" soiree at the diner. During the party, Roseanne is horrified to learn about a dark secret in Fred's past. The usual pranks abound as everyone tries to out-spook each other - to a surprising conclusion.
1:00 a.m. - "Halloween: The Final Chapter"
The Ouija board makes this Halloween the weirdest and the happiest one of all. During a seance, Dan channels the spirit of Elvis. Jackie and Roseanne take turns terrorizing each other with scary memories from their childhood and a bizarre parade of trick-or-treaters, including the late Ed McMahon, begin appearing at the Conner's doorstep. Then, right in the middle of the festivities, a pregnant Roseanne is rushed to the hospital. The baby is about to arrive, but first, in a drug-induced haze, Roseanne is contacted by the spirit of Jerry Garcia, who expounds peace, love and happiness. Finally, Roseanne gives birth to a baby boy: Jerry Garcia Conner.
1:30 a.m. - "Satan, Darling"
Roseanne, Jackie and Nancy attend a high society party in New York for the launch of a new perfume. They are surrounded by socialites who prove to be a bunch of name-dropping phonies. They encounter Patsy and Edina (from "Absolutely Fabulous") at the party where Edina is determined to get Roseanne to part with a lot of her new-found wealth. The women attend a ceremony of a coven of witches where Roseanne is told that her daughter, Darlene, is like "Rosemary's Baby" and Satan wants to claim her. Roseanne takes a stand and defeats them. She later wakes up and realizes that it was one big nightmare.
TV Land and all related logos and titles are trademarks of Viacom International Inc.
About TV Land PRIME and TV Land
TV Land PRIME is TV Land's prime time programming destination designed for people in their mid-forties and the exclusive home to the premieres of the network's original programming, contemporary television series acquisitions and movies. TV Land PRIME is part of TV Land, a network dedicated to presenting the best in entertainment on all platforms for consumers in their 40s. Consisting of original programming, acquired shows, hit movies and full-service Web site, TV Land is now seen in over 93 million U.S. homes.
About MTV Networks
MTV Networks, a division of Viacom , is one of the world's leading creators of entertainment content, with brands that engage and connect diverse audiences across television, online, mobile, games, virtual worlds and consumer products. The company's portfolio spans more than 150 television channels and 400 digital media properties worldwide, and includes MTV, VH1, CMT, Logo, Harmonix, Nickelodeon, Nick at Nite, Nick Jr., TeenNick, AddictingGames, Neopets, COMEDY CENTRAL, SPIKE, TV Land, Atom, GameTrailers and Xfire.TV Land
CONTACT: Wendy Coto, TV Land, +1-310-407-4762, firstname.lastname@example.org,
or Kelly Kearns, TV Land, +1-212-654-5599, email@example.com
Web Site: http://www.tvland.com/
LINDON, Utah, Oct. 19 /PRNewswire-FirstCall/ -- The SCO Group, Inc., (Pink Sheets: SCOXQ) a leading provider of UNIXÂ® software technology, today announced a restructuring plan following an analysis of the company's operations and cost structure undertaken by Chapter 11 Trustee, Edward Cahn and his advisors.
The company expects to finalize details of the restructuring and to reach cash flow breakeven for core operations within the next month. The savings are a combination of non-workforce related changes and a modest reduction in SCO's workforce. As part of the restructuring, the company has eliminated the Chief Executive Officer and President positions and consequently terminated Darl McBride. The current management team comprised of Chief Operating Officer, Jeff Hunsaker, Chief Financial Officer, Ken Nielsen and General Counsel, Ryan Tibbitts, will continue to work closely with the Chapter 11 Trustee and his advisors to implement the restructuring plan, move the intellectual property litigation forward with Boies, Schiller & Flexner, LLP and emerge from Chapter 11 bankruptcy.
The company is also looking to raise additional funding and sell non-core assets to bolster working capital. These actions will allow the Trustee to preserve cash and the value of the business while enabling the Company to proceed with asset sales, pursue litigation against, among others, IBM and Novell, and to continue supporting SCO's loyal UNIX customer base.
"These actions, while difficult, are essential to SCO becoming a more agile and efficient company, not just for this year, but for years to come," said Mr. Hunsaker. "This restructuring plan reinforces SCO's ability to continue to sell and support its products while servicing the needs of our customers and partners on a worldwide basis through the stabilization of our financial situation."
Forward Looking Statements
The statements contained in this press release regarding (1) the Company's plan of reorganization and (2) the Company's financing efforts are forward-looking statements and are made under the safe harbor provisions 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. We wish to advise readers that a number of important factors could cause actual results to differ materially from historical results or those anticipated in such forward-looking statements. These factors include, but are not limited to, outcomes and developments of our restructuring plan, outcomes and developments of our Chapter 11 case, court rulings in our bankruptcy proceedings, the impact of the bankruptcy proceedings on our other pending litigation, and our cash balances and available cash. These and other factors that could cause actual results to differ materially from those anticipated are discussed in more detail in the Company's periodic and current filings with the Securities and Exchange Commission, including the Company's Form 10-K for the fiscal year ended October 31, 2008, as amended, and future filings with the SEC. These forward-looking statements speak only as of the date on which such statements are made, and the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date.
The SCO Group (SCOXQ.PK) is a leading provider of UNIX software technology. Headquartered in Lindon, Utah, SCO has a worldwide network of resellers and developers. SCO Global Services provides reliable localized support and services to partners and customers. For more information on SCO products and services, visit http://www.sco.com/. SCO and the associated logos are trademarks or registered trademarks of The SCO Group, Inc. in the U.S. and other countries.The SCO Group, Inc.
CONTACT: Chantell Ferrin of SCO Group, Inc., +1-801-932-5760,
Web Site: http://www.sco.com/
OAK BROOK, IL, Oct. 19 /PRNewswire-FirstCall/ -- Primary Energy Recycling Corporation (TSX: PRI.UN) will release its financial results for the third quarter ended Sept 30, 2009 prior to the open of markets on Thursday, October 29, 2009. A telephone conference call hosted by management will be held:
Thursday, October 29, 2009 at 11 am ET The telephone numbers for the conference call are: (416) 644-3422/or/ (800) 814-3911
A conference call replay will be available until midnight on Thursday Nov 5, 2009 (ET) by calling (416) 644-3422 or (866) 250-4877. Please enter the passcode 4175079 followed by the number sign when instructed. A webcast replay will be available for 90 days by accessing a link through the Investor Information section at http://www.primaryenergyrecycling.com/.
The Company owns a majority interest in Primary Energy Recycling Holdings LLC ("Primary Energy"). Primary Energy, headquartered in Oak Brook, Illinois, indirectly owns and operates four recycled energy projects and a 50% interest in a pulverized coal facility (collectively, the "Projects"). The Projects have a combined electrical generating capacity of 283 megawatts and a combined steam generating capacity of 1.8 MMlbs/hour. Primary Energy creates value for its customers by capturing and recycling waste energy from industrial and electric generation processes and converting it into reliable and economical electricity and thermal energy for its customers' use. For more information, please visit us at http://www.primaryenergyrecycling.com/.Primary Energy Recycling Corporation
CONTACT: V. Michael Alverson, Chief Financial Officer,
BALTIMORE, Oct. 19 /PRNewswire-FirstCall/ -- T. Rowe Price Group, Inc. announced today that its Board of Directors has declared a quarterly dividend of $0.25 per share payable December 29, 2009 to stockholders of record as of the close of business on
December 15, 2009.
With this dividend, T. Rowe Price's total dividends declared for the year 2009 will be $1.00 per share, an increase of 4% over the $0.96 per share declared for the year 2008. This marks the 23rd consecutive year since going public that T. Rowe Price has increased its annual dividend payout.
Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. is a global investment management organization with $315.6 billion in assets under management as of June 30, 2009. The organization provides a broad array of mutual funds, sub-advisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. More information is available at http://www.troweprice.com/.T. Rowe Price Group, Inc.
CONTACT: Brian Lewbart, +1-410-345-2242, Robert Benjamin,
+1-410-345-2205, or Heather McDonold, +1-410-345-6617, all of T. Rowe Price
Web Site: http://www.troweprice.com/
CHICAGO, Oct. 19 /PRNewswire-FirstCall/ -- Aon Corporation today announced that John Bayeux, an industry veteran with over 22 years of experience as a risk manager and insurance broker in the financial institutions sector, has joined Aon Risk Services as Managing Director.
In his new role, Bayeux will work with clients, the financial institutions markets and other financial institutions specialists to design coverages that address the exposures caused by the current financial crisis.
"We are excited to have John rejoin our firm," said Eric Andersen, Chief Executive Officer of Aon Risk Services U.S. Retail. "Aon is very focused on our industry specialties and John's knowledge of the financial institutions markets will add tremendous value to our clients and our team."
Prior to joining Aon in August, Bayeux served as Executive Vice President and Financial Institutions Industry Leader for Willis, a position he had held since 2004. Previously, Bayeux had spent 14 years at Aon Risk Services and its predecessor companies, ultimately serving as Managing Director of the firm's Financial Institutions Practice where he led the efforts to deliver products and services specifically geared to address the risk management needs of sophisticated financial institutions. Bayeux also has served as risk manager for several major financial firms.
Bayeux earned an M.B.A. in Finance and a B.A. in History from Seton Hall University.
Aon Corporation is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting. Through its more than 37,000 colleagues worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Aon's industry-leading global resources and technical expertise are delivered locally through more than 500 offices in more than 120 countries. Named the world's best broker by Euromoney magazine's 2008 and 2009 Insurance Survey, Aon also ranked highest on Business Insurance's listing of the world's largest insurance brokers based on commercial retail, wholesale, reinsurance and personal lines brokerage revenues in 2008. A.M. Best deemed Aon the number one insurance broker based on brokerage revenues in 2007 and 2008, and Aon was voted best insurance intermediary, best reinsurance intermediary and best employee benefits consulting firm in 2007 and 2008 by the readers of Business Insurance. For more information on Aon, log onto http://www.aon.com/.
Media Contact: David Prosperi 312.381.2485 David_prosperi@aon.comPhoto: http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO
CONTACT: David Prosperi of Aon Corporation, +1-312-381-2485,
Web Site: http://www.aon.com/
CALGARY, Oct. 19 /PRNewswire-FirstCall/ -- BNK Petroleum Inc. (the "Company" or "BNK")/(TSX: BKX) is pleased to announce a 83 percent increase of its Tishomingo shale gas field reported proved reserves ("1P") to 15.3 million boe from 8.4 million boe at year end 2008. Proved reserves as of October 1, 2009 were $105.1 million, calculated at a 10% pre-tax present value of future net revenue ("NPV"). Unless otherwise stated, reserves refer to reserves of either natural gas or natural gas liquids or barrels of oil equivalent ("boe"). Certain amounts cited herein have been rounded for presentation purposes.
At the request of certain lenders in connection with the Company's existing credit facilities, BNK requested an updated evaluation of its proved reserves only (additional probable reserves were not considered), as compared with the evaluation reflected in the year-end report effective December 31, 2008 (the "2008 Year-End Report") prepared by MHA Petroleum Consultants Inc. ("MHA"), independent petroleum engineering consultants of Lakewood, Colorado. As a result of the Company's planned drilling and completion program on its existing properties in the Tishomingo Field, Oklahoma, all reserves that had been classified as probable reserves in the 2008 Year-End Report have been converted to proved reserves in the updated report, also prepared by MHA (the "Mid-Year Report"). All updated reserve estimates are effective as at October 1, 2009. Updated estimates are net of production, apply to proved reserves only and do not include any of the results of BNK's drilling and completion program subsequent to the effective date of the Mid-Year Report. Additionally, with respect to a number of the horizontal wells, BNK only fracture stimulated a portion of the stages that were available to fracture stimulate and the Mid-Year Report does not give any credit for those remaining stages. BNK still has approximately 60 percent of its net stages of treatable Woodford shale behind pipe that are unstimulated. A net stage of treatable Woodford shale represents the average treated interval length multiplied by BNK's working interest in each well. No reserves were attributed to those remaining stages in the Mid-Year Report. The full impact of this activity will be captured in a year-end 2009 report, which will be prepared and reported upon after relevant data are fully assessed by the company and MHA, its independent evaluators, after year-end 2009.
In December, 2008, BNK applied for and received approval to drill three additional wells in one of its sections at an 80-acre spacing pattern. An 80-acre spacing pattern would allow for eight wells per section which could allow for over 340 total gross wells for this project. To date the company has drilled and participated in 39 gross wells in this project.
Forecast Price Case - Pre Tax Category Gross Net Gross Net Gross Net Net NPV Oil Oil Gas Gas NGL NGL BOE's 10% PDP 870 277 31,764 8,148 4,574 1,688 3,323 $45,782 PUD 2,377 841 121,340 29,801 17,473 6,175 11,983 $59,295 Total Proved 3,247 1,118 153,104 37,949 22,047 7,863 15,306 $105,077
The Mid-Year Report was prepared using assumptions and methodology guidelines outlined in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and in accordance with National Instrument 51-101 ("NI 51-101"). Future net revenue is calculated after deduction of forecast royalties, operating expenses, capital expenditures and abandonment costs but before corporate overhead or other indirect costs, including interest and income taxes. The Mid-Year Report was prepared utilizing the Sproule Oil & Natural Gas Forecast effective October 1, 2009 as set forth below. Proved reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is 90% likely that the actual remaining quantities recovered will exceed the estimated proved reserves. Probable reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves.
Sproule Forecast as of September 30, 2009 ----------------------------------------- --------------------------------- WTI, Henry Hub, Year $US/Bbl $US/MMBtu --------------------------------- 2009 $71.49 $3.86 --------------------------------- 2010 $75.09 $5.68 --------------------------------- 2011 $78.11 $6.60 --------------------------------- 2012 $82.28 $7.40 --------------------------------- 2013 $92.01 $8.12 --------------------------------- 2014 $93.85 $8.28 --------------------------------- 2015 $95.72 $8.45 --------------------------------- 2016 $97.64 $8.62 --------------------------------- 2017 $99.59 $8.79 --------------------------------- 2018 $101.58 $8.96 --------------------------------- 2019 $103.61 $9.14 ---------------------------------
All references to barrel of oil equivalent ("boe") are calculated on the basis of 6 mcf:1 bbl. Readers are cautioned that the conversion used in calculating barrels of oil equivalent is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Furthermore, boes may be misleading if used in isolation. Future net revenues disclosed herein do not represent fair market value. Also, estimations of reserves and future net revenue to be discussed in this press release constitute forward-looking information. See "Forward Looking Information" below.
BNK is continuing its pursuit of additional shale gas concessions in both Eastern and Western Europe, with the goal of having two million acres in four basins by year-end.
About BNK Petroleum Inc.
BNK Petroleum Inc. is a California based oil and gas exploration and production company focused on finding and exploiting large oil and gas resource plays. The Company holds an average of 50% interest in the Tishomingo gas field in Oklahoma and varied interests in three other areas in the Northern and Central regions of the United States and in Europe, where it is currently pursuing the exploration, development and production of shale and tight sand gas plays. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol BKX.
This document contains certain forward looking statements including statements with respect to estimated reserves and future net revenues and future capital expenditures. The forward looking information is based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry and BNK's ability to identify suitable drilling locations (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), risk associated with equipment procurement and equipment failure, risks related to international operations and doing business in foreign jurisdictions, the risk of commodity price and foreign exchange rate fluctuations, risks related to future royalty rate changes and risks and uncertainties associated with securing and maintaining necessary regulatory approvals. In addition, the current financial crisis has resulted in severe economic uncertainty and resulting illiquidity in credit and capital markets which increases the risk that actual results will vary from forward looking expectations and these variations may be material. Additional risks and uncertainties are described in detail in BNK's Annual Information Form for the year ended December 31, 2008, which is available at http://www.sedar.com/. The Corporation assumes no obligation to update or revise the forward-looking information to reflect new events or circumstances, except as required by law.
The reserves and future pre-tax net revenue in this press release represent estimates only. The reserves and future pre-tax net revenue from the company's properties have been independently evaluated by MHA with effective dates of October 1, 2009 and December 31, 2008, respectively. This evaluation includes a number of assumptions relating to factors such as initial production rates, production decline rates, ultimate recovery of reserves, timing and amount of capital expenditures, marketability of production, future prices of crude oil and natural gas, operating costs, abandonment and salvage values, royalties and other government levies that may be imposed during the producing life of the reserves. These assumptions were based on the Sproule Oil & Natural Gas Forecast from the mid-year MHA Report as at the dates of the reports and many of these assumptions are subject to change and are beyond the control of the company. Actual production, sales and cash flows derived therefrom will vary from the evaluation and such variations could be material. The present value of estimated future net revenues referred to herein should not be construed as the current market value of estimated crude oil and natural gas reserves attributable to the company's properties.
The TSX does not accept responsibility for the adequacy or accuracy of
this news release.BNK Petroleum Inc.
CONTACT: Wolf Regener, President and Chief Executive Officer, (805)
484-3613, Email: firstname.lastname@example.org, Website:
BARRIE, Ontario, Oct. 19 /PRNewswire-FirstCall/ -- Winning Brands Corporation (Pink Sheets: WNBD; Frankfurt: WMU.F), http://www.winningbrands.ca/ manufacturer of popular new TrackMoist performance enhancer and dust suppressant for dirt racetracks, will debut at the largest race industry trade event December 10-12, 2009 in Orlando, Florida. Winning Brands will be an exhibitor and have product available for sale in response to strong positive findings at test sites during 2008/2009.
Don "Herbie" Williams, product specialist and distribution co-ordinator for Winning Brands' TrackMoist, explains why this is a significant development: "The Performance Industry Tradeshow has been called the '3 biggest days in racing'. Buyers and interested parties are documented to attend from all 50 U.S. states and 60 countries internationally. With tens of thousands of industry personnel in attendance, TrackMoist is now ready to make serious inroads. I am ready to show them how I can make their dirt racetrack perform better than ever. International enquiries for TrackMoist have already begun."
TrackMoist is a concentrate that is added to the water tanks of trucks used to spray dirt race tracks. It is typically sold in 1 gallon and 5 gallon containers. They mix to create 45,000 gallons of treated water and 225,000 gallons, respectively. It has been reported that water consumption is reduced by up to 50% in such applications. Tracks typically consume tens of thousands of gallons of untreated water per weekend. Additional savings arise from reduced fuel consumption, equipment wear and personnel costs. The Manufacturer's Suggest Retail Price (MSRP) for 1 gallon is $109. 5 gallons is $475.
ABOUT WINNING BRANDS CORPORATION: Winning Brands Corporation is a manufacturer and marketer of eco-responsible alternatives to conventional cleaning solutions, including the Winning Colours Stain Remover alternative to conventional solvents. The innovative stain remover and multi-cleaner is targeted to become the world's favourite stain removing solution because of its remarkable skin-friendliness, ease of use and versatility and much discussed on YouTube http://www.youtube.com/results?search_query=Winning+Colours+Stain+Remover&sear ch_type=&aq=f TrackMoist track treatment and dust suppressant is gaining fans in all sectors of motorsports for its ability to dramatically conserve water and improve track performance. Additional brands include KIND Laundry Products, CLEAN1 Spray, and SMART Wet Cleaning Solutions.
Certain statements in this news release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Winning Brands Corporation (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; and (iii) competitive factors and developments beyond the Company's control. TrackMoist, KIND and CLEAN1 is a trademark of Niagara Mist Marketing Ltd., subsidiary of Winning Brands Corporation. Winning Colors/Winning Colours is a registered trademark of Niagara Mist Marketing Ltd. SMART is a trademark of Solvent Free Solutions Inc.
INVESTOR RELATIONS: E & E Communications, Paul Knopick (949)707-5365 News@WinningBrands.ca PRODUCT INFORMATION: Winning Brands Corporation 11 Victoria Street, Suite 220A, Barrie, Ontario, Canada L4N 6T3 (866) 722-3542 email@example.com CustomerService@WinningBrands.caWinning Brands Corporation
CONTACT: Investor Relations:, Paul Knopick of E & E Communications,
+1-949-707-5365, News@WinningBrands.ca, for Winning Brands Corporation
Web Site: http://winningbrandscorporation.com/
ORLANDO, Fla., Oct. 19 /PRNewswire-FirstCall/ -- While you can't yet teleport or clone yourself to be in two places nearly at once, computer scientists are working on what might be the next best thing.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO )
With support from IBM Research and Nokia Research Center, the VTT Technical Research Centre of Finland created an experimental system that enables people in multiple locations to interact and collaborate with avatars and objects in a single, virtual meeting. Objects and avatars are located in a "virtual" space that mirrors the corresponding physical room.
Sensors, cameras and microphones located on both ends of the conversation allow voices, head and hand gestures and movements to change in concert with the behavior of participants, enabling participants to sense the vital visual cues of body language. In this proof-of-concept, participants in physical rooms wear video see through glasses that depict three-dimensional images of their online counterparts as they stand, walk, talk or demonstrate and manipulate virtual objects shared between the spaces.
The system, called ACME, which stands for Augmented Collaboration in Mixed Environments, was assembled using an open source viewer from Linden Lab's Second Life virtual world, as well as from open source ARToolkit and OpenCV libraries. The use of open source components lowers the costs associated with the project as it matures, and encourages the participation of more computer programmers and developers.
The technology provides a more affordable and eco-friendly alternative to physical meetings. It is also more interactive than telephone conferences, video conferences - and even on-screen meetings held exclusively in virtual spaces.
"ACME is a compelling example of the kind of R&D now being conducted that will enable the business community to work more intelligently, in a more productive, efficient, convenient and immersive fashion," said Neil Katz, an IBM Distinguished Engineer in the company's CIO Office, and liaison with the ACME project. "It's easy to imagine that this technology, especially when it becomes somewhat more mature, will give people a promising new option for collaborating more interactively with colleagues in an increasingly decentralized world."
The research towards this new level of meeting experience was supported by the Finnish Funding Agency for Technology and Innovation (TEKES). IBM Research, together with Nokia Research Center, provided additional funding and contributed to the technical direction.
Prototypes of ACME will be installed at IBM Research - Austin and Nokia Research Center - Tampere/Finland for internal use and further testing and development. ACME will also be demonstrated at the International Symposium on Augmented and Mixed Reality (ISMAR) in Orlando, Florida, USA, from October 19 - 22, 2009. To view a clip showing ACME in action, please visit http://www.youtube.com/watch?v=DNB0_c-5TSk.
For more about IBM Research and the Nokia Research Center, please visit http://www.research.ibm.com/ and http://www.research.nokia.com/.
VTT Technical Research Centre of Finland is the biggest multi-technological applied-research organization in Northern Europe. For more about VTT's Augmented Reality team, please visit http://www.vtt.fi/multimedia.
Media Inquiries: Ari Fishkind IBM Media Relations 914-945-2319 firstname.lastname@example.orgPhoto: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO
CONTACT: Media, Ari Fishkind, IBM Media Relations, +1-914-945-2319,
Web Site: http://www.research.ibm.com/