Companies news

EQT Corporation Announces Common Stock Offering; Increases Production Sales Growth Guidance to 26%

PITTSBURGH, March 9 /PRNewswire-FirstCall/ -- EQT Corporation today announced that it intends, subject to market conditions, to offer 12,500,000 shares of its common stock through an underwritten offering. The common stock will be offered pursuant to an effective registration statement filed with the Securities and Exchange Commission. The company intends to grant the underwriters a 30-day option to purchase a maximum of 1,875,000 additional shares of its common stock.

EQT will use the net proceeds from the offering to accelerate development of its Marcellus and Huron / Berea plays. As a result, the company is raising its capital expenditures (CAPEX) estimate for 2010 from $850 million to $1.2 billion, excluding acquisitions. The company is also raising its 2010 production sales growth guidance from 20% to 26%. Consistent with the fact that most of the volumes associated with this investment will show up in late 2010 or in 2011, we would also expect that the growth rate in 2011 would at least match that 2010 growth rate. The revised CAPEX estimate for 2010 includes $900 million for drilling wells, $260 million for pipeline and compression to gather and transport the gas to markets and $40 million for distribution infrastructure projects and other corporate items.

"We are extremely confident in our capability to profitably develop our extensive Marcellus and Huron / Berea asset positions, and therefore we believe it is time to accelerate that development," commented Murry Gerber, chairman and chief executive officer.

J.P. Morgan, Barclays Capital, Credit Suisse and Deutsche Bank Securities are acting as joint book-running managers for the offering. The offering is being made only by means of a prospectus and related prospectus supplement, copies of which, when available, may be obtained by mail from the offices of J.P. Morgan Securities Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 1-866-803-9204; by mail from the offices of Barclays Capital Inc., c/o Broadridge, Integrated Distribution Services, 1155 Long Island Ave., Edgewood, New York 11717, Telephone (888) 603-5847 or by e-mail at barclaysprospectus@broadridge.com; by mail from the offices of Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue, New York, New York 10010 or by telephone to (800) 221-1037; or by mail from the offices of Deutsche Bank Securities Inc., Attn: Prospectus Department, 100 Plaza One, Jersey City, New Jersey, 07311, by telephone at (800) 503-4611 or by email to prospectusrequest@list.db.com. An electronic copy of the prospectus will be available on the website of the Securities and Exchange Commission at http://www.sec.gov/.

Cautionary Statements

Disclosures in this press release contain certain forward-looking statements. Statements that do not relate strictly to historical or current facts are forward-looking. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include the expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of the Company and its subsidiaries, including guidance regarding the Company's drilling and infrastructure programs (including the Equitrans expansion project), production and sales volumes, capital commitments and capital expenditures, capital budget, financing plans (including number of shares to be sold in this offering), and growth rate. These statements involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The Company has based these forward-looking statements on current expectations and assumptions about future events. While the Company considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control. The risks and uncertainties that may affect the operations, performance and results of the Company's business and forward-looking statements include, but are not limited to, those set forth under Item 1A, "Risk Factors" of the Company's Form 10-K for the year ended December 31, 2009, as updated by any subsequent Form 10-Qs. Any forward-looking statement speaks only as of the date on which such statement is made and the Company does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or country in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or country.

EQT Corporation is an integrated energy company with emphasis on Appalachian area natural gas production, gathering, processing, transmission and distribution. Additional information about the company can be obtained through the company's web site, http://www.eqt.com/; Investor information is available on that site at http://ir.eqt.com/. EQT Corporation uses its web site as a channel of distribution of important information about the company, and routinely posts financial and other important information regarding the company and its financial condition and operations on the Investors web pages.

Contact: Patrick Kane (412) 553-7833

EQT Corporation (EQT-IR)

CONTACT: Patrick Kane, EQT Corporation (EQT-IR), +1-412-553-7833

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

Transcept Pharmaceuticals to Report Fourth Quarter and Full Year 2009 Results and Host Conference Call on March 23, 2010

POINT RICHMOND, Calif., March 9 /PRNewswire-FirstCall/ -- Transcept Pharmaceuticals, Inc. , a specialty pharmaceutical company focused on the development and commercialization of proprietary products that address important therapeutic needs in the field of neuroscience, today announced that it plans to release fourth quarter and full year 2009 financial results on March 23, 2010 after the close of the market. At 5:00 p.m. Eastern Time, Transcept management will host a webcast and teleconference to discuss these results.

Conference Call Information Date: Tuesday, March 23, 2010 Time: 5:00 p.m. EDT Dial-in (U.S.): 877-638-4558 Dial-in (International): 914-495-8537

A simultaneous webcast of the conference call will be available on the Investors section of the Transcept website at http://www.transcept.com/. A replay of this webcast will be available on the website beginning shortly after the conclusion of the call through April 23, 2010.

A telephone replay of the conference call will be available beginning shortly after the conclusion of the call through April 23, 2010. The replay telephone number is 800-642-1687 (U.S.) or 706-645-9291 (International), replay passcode: 60018524.

About Transcept

Transcept Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development and commercialization of proprietary products that address important therapeutic needs in neuroscience. The most advanced Transcept product candidate is Intermezzo® (zolpidem tartrate sublingual tablet), for which a New Drug Application (NDA) was submitted to the U.S. Food and Drug Administration (FDA) in September 2008 seeking approval as a prescription sleep aid for use in the middle of the night at the time a patient awakens and has difficulty returning to sleep. In October 2009, Transcept received a Complete Response Letter from the FDA on the Intermezzo® NDA and is working to respond to issues raised in the letter. Transcept and Purdue Pharmaceutical Products, L.P. have entered into a collaboration agreement for the development and commercialization of Intermezzo® in the United States. For further information, please visit the company's website at: http://www.transcept.com/.

Contact: Transcept Pharmaceuticals, Inc. Greg Mann Director, Corporate Communications (510) 215-3567 gmann@transcept.com

Transcept Pharmaceuticals, Inc.

CONTACT: Greg Mann, Director, Corporate Communications of Transcept
Pharmaceuticals, Inc., +1-510-215-3567, gmann@transcept.com

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

Flow International Announces Third Quarter ResultsSecond Quarter of Sequential Revenue Growth

KENT, Wash., March 9 /PRNewswire-FirstCall/ -- Flow International Corporation , the world's leading developer and manufacturer of industrial waterjet machines for cutting and cleaning applications, today reported results for its fiscal 2010 third quarter ended January 31, 2010.

For the quarter, Flow reported consolidated revenues of $45.4 million, a sequential increase of 8% compared to $42.0 million in the fiscal 2010 second quarter. This follows the previously reported 11% sequential revenue growth in the second quarter compared to first quarter of fiscal 2010. Revenue in the year-ago third quarter was $48.7 million.

The Company reported a fiscal 2010 third quarter GAAP net loss of $0.7 million or a loss of $0.02 per share, which includes a non-cash charge of $1.3 million for foreign currency adjustments primarily related to the liquidation of two dormant subsidiaries. Excluding these adjustments and the related tax effects, as well as the results of discontinued operations, pro forma net loss for the quarter was $0.3 million or $0.01 per share. This compares to a pro forma net loss of $0.2 million in the fiscal 2009 third quarter, which excludes non-recurring charges of $32.3 million related to a patent litigation settlement, a goodwill impairment charge, and severance expenses, as well as the related tax effects and the results of discontinued operations. As reported, including the above items, the year-ago quarter GAAP net loss was $21.4 million or $0.57 per share.

"This represents the second quarter of sequential growth in our revenue, and it was led by the strengthening of our Standard systems business," said Charley Brown, President and CEO of Flow. "While we feel that our business is stabilizing, we expect that, until the overall macroeconomic environment significantly improves, this stability will represent historically low levels."

Operations Review For the fiscal 2010 third quarter: -- Standard Segment sales, which include sales of systems that do not require significant custom configuration as well as parts and services for those installed systems, were $37.0 million, an increase of $5.6 million or 18% sequentially from the fiscal year 2010 second quarter and a decrease of $4.2 million or 10% from the prior-year quarter. -- Advanced Segment sales, which include sales of complex aerospace and automation systems requiring specific custom configuration and advanced features as well as parts and services for those installed systems, were $8.3 million for the quarter as expected, a sequential decrease of $2.3 million or 22% from the fiscal year 2010 second quarter and an increase of $0.9 million or 12% from the prior-year quarter. -- Aggregate gross margin was 40.2% for the quarter, an increase from gross margin of 39.6% in the fiscal 2010 second quarter and 39.3% gross margin in the prior-year quarter. -- Total overall operating expenses for the quarter were $18.5 million. That compares to $18.7 million in the prior-year quarter, excluding $32.3 million in restructuring, impairment, and other operating charges, and to $16.9 million in the fiscal 2010 second quarter, excluding the $0.6 million gain recognized on the sale of the building in Taiwan. The fiscal 2010 third quarter includes increased costs associated with the implementation of Flow's Enterprise Resource Planning system and related depreciation and amortization, and the partial reinstatement of the temporary wage reductions and employee benefits that had previously been suspended since the fourth quarter of fiscal 2009. Conference Call

Flow plans to hold a conference call to discuss these results today: Tuesday, March 9th at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). The conference call may be heard by dialing 877-303-6620 or 224-357-2202. A 48-hour replay will be available following the call by dialing 800-642-1687 or 706-645-9291; the replay passcode is 60348022. A live audio Webcast of the conference call may be found in the investor section at http://www.flowcorp.com/. A Webcast replay of the call will also be available for two weeks.

About Flow International

Flow International Corporation is the world's leading developer and manufacturer of ultrahigh-pressure waterjet cutting technology to industries including automotive, aerospace, job shop, surface preparation, and more. For more information, visit http://www.flowcorp.com/.

This press release contains forward-looking statements relating to future events or future financial performance that involve risks and uncertainties. The words "believe," "expect," "intend," "anticipate," variations of such words, and similar expressions identify forward-looking statements but their absence does not mean that the statement is not forward-looking. These statements are only predictions and actual results could differ materially from those anticipated in these statements based on a number of risk factors, including those set forth in the Company's filings with the Securities and Exchange Commission. Forward- looking statements in this press release include, without limitation, statements regarding sequential growth in revenue and stabilizing revenue. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this announcement.

Contact: Flow Investor Relations Geoffrey Buscher 253-813-3286 investors@flowcorp.com Flow International Corporation Consolidated Statements of Operations (Unaudited) US Dollars in thousands, except per share data Three months Nine months ended ended January 31, January 31, 2010 2009 2010 2009 ---- ---- ---- ---- Sales $45,356 $48,711 $125,145 $166,353 Cost of Sales 27,133 29,565 76,314 95,436 ------ ------ ------ ------ Gross Margin 18,223 19,146 48,831 70,917 ------ ------ ------ ------ Operating Expenses: Sales and Marketing 10,065 9,996 26,956 31,996 Research and Engineering 2,235 2,281 5,782 6,809 General and Administrative 6,198 6,418 19,391 22,586 Restructuring and Other Operating Charges - 32,278 4,222 34,158 --- ------ ----- ------ Operating Expenses 18,498 50,973 56,351 95,549 ------ ------ ------ ------ Operating Loss (275) (31,827) (7,520) (24,632) Interest Expense, net (429) (348) (1,774) (337) Other Income (Expense), net (1,218) 392 (866) (56) ------ --- ---- --- Loss Before Benefit for Income Taxes (1,922) (31,783) (10,160) (25,025) Benefit for Income Taxes 1,124 11,106 2,653 6,277 ----- ------ ----- ----- Loss from Continuing Operations (798) (20,677) (7,507) (18,748) Income (Loss) from Discontinued Operations, net of tax 51 (686) (1,089) (597) -- ---- ------ ---- Net Loss $(747) $(21,363) $(8,596) $(19,345) ===== ======== ======= ======== Basic and Diluted Loss Per Share: Loss from Continuing Operations $(0.02) $(0.55) $(0.18) $(0.50) Net Loss $(0.02) $(0.57) $(0.20) $(0.51) Weighted Average Shares Outstanding Used in Computing Basic and Diluted Loss Per Share (000): Basic and Diluted 46,879 37,639 42,490 37,609 Flow International Corporation Consolidated Balance Sheets (Unaudited) US Dollars in thousands January 31, April 30, 2010 2009 ---- ---- ASSETS: Current Assets: Cash $6,622 $10,117 Receivables, net 36,859 32,103 Inventories 22,031 21,480 Other Current Assets 11,004 31,543 ------ ------ Total Current Assets 76,516 95,243 Property and Equipment, net 21,674 22,983 Other Long-Term Assets 34,997 26,734 ------ ------ $133,187 $144,960 ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY: Current Liabilities: Notes Payable $2,150 $15,226 Current Portion of Long-Term Obligations 54 1,367 Accounts Payable and Other Accrued Liabilities 21,675 17,897 Other Current Liabilities 19,444 17,830 Reserve for Patent Litigation - 15,000 --- ------ Total Current Liabilities 43,323 67,320 Other Long-Term Liabilities 7,304 8,929 Subordinated Notes 7,775 6,000 ----- ----- Total Other Long-Term Liabilities 58,402 82,249 ====== ====== Shareholders' Equity 74,785 62,711 ------ ------ $133,187 $144,960 ======== ======== Flow International Corporation Supplemental Data (Unaudited) US Dollars in thousands Three months Nine months ended ended January 31, January 31, 2010 2009 2010 2009 ---- ---- ---- ---- Sales Breakdown: Systems $31,905 33,739 $83,673 $115,997 Consumable Parts 13,451 14,972 41,472 50,356 ------ ------ ------ ------ Total $45,356 $48,711 $125,145 $166,353 ======= ======= ======== ======== Segment Revenue Breakdown: Standard $37,036 $41,269 $96,817 $149,898 Advanced 8,320 7,442 28,328 16,455 ----- ----- ------ ------ $45,356 $48,711 $125,145 $166,353 ======= ======= ======== ======== Segment Operating Income (Loss) Breakdown: Standard $978 $2,441 $(211) $21,592 Advanced 1,229 628 4,999 (3,417) All Other* (2,482) (34,896) (12,308) (42,807) ------ ------- ------- ------- $(275) $(31,827) $(7,520) $(24,632) ===== ======== ======= ======== * Includes corporate overhead expenses as well as general and administrative expenses of inactive subsidiaries that do not constitute segments. Depreciation and Amortization Expense $1,485 $1,113 $4,078 $3,210 Capital Spending $968 $1,920 $8,925 $6,862 Flow International Corporation Reconciliation of GAAP to Pro forma (Unaudited) US Dollars in thousands, except per share data Three months Nine months ended ended January 31, January 31, 2010 2009 2009 2008 ---- ---- ---- ---- GAAP Loss from Continuing Operations $(798) $(20,677) $(7,507) $(18,748) Adjustments: OMAX Termination Charge - - 3,219 - Restructuring and Other Operating Charges - 514 1,003 2,394 Goodwill Impairment - 2,764 - 2,764 Provision for Patent Litigation - 29,000 - 29,000 Write-off of Deferred Debt Issuance Costs - - 253 - Inventory Write-Off - - - 108 Liquidation of Dormant Foreign Subsidiaries 1,277 - 1,277 - Tax Effect of Adjustments (780) (11,765) (3,390) (11,765) ----- ----- ------- ------ Pro forma Income (Loss) from Continuing Operations $(301) $(164) $(5,146) $3,753 ----- ----- ------- ------ GAAP Net Loss $(747) $(21,363) $(8,596) $(19,345) Adjustments: OMAX Termination Charge - - 3,219 - Restructuring and Other Operating Charges - 514 1,003 2,394 Goodwill Impairment - 2,764 - 2,764 Provision for Patent Litigation - 29,000 - 29,000 Write-off of Deferred Debt Issuance Costs - - 253 - Inventory Write-Off - - - 108 Liquidation of Dormant Foreign Subsidiaries 1,277 - 1,277 - Discontinued Operations (51) 686 1,089 597 Tax Effect of Adjustments (780) (11,765) (3,390) (11,765) ----- ----- ------- ------ Pro forma Net Income (Loss) $(301) $(164) $(5,146) $3,753 ----- ----- ------- ------ Per Share Amounts GAAP Basic and Diluted Income (Loss) Per Share Income (Loss) from Continuing Operations $(0.02) $(0.55) $(0.18) $(0.50) Net Income (Loss) $(0.02) $(0.57) $(0.20) $(0.51) Pro forma Basic and Diluted Income (Loss) per Share Income (Loss) from Continuing Operations $(0.01) $(0.00) $(0.12) $0.10 Net Income (Loss) $(0.01) $(0.00) $(0.12) $0.10

Flow International Corporation

CONTACT: Flow Investor Relations, Geoffrey Buscher, +1-253-813-3286,
investors@flowcorp.com

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

Anadys Pharmaceuticals to Present at the ROTH OC Growth Stock Conference

SAN DIEGO, March 9 /PRNewswire-FirstCall/ -- Anadys Pharmaceuticals, Inc. announced today that it will present at the ROTH 22nd Annual OC Growth Stock Conference on Tuesday, March 16, 2010 at 3:30 p.m. PDT (6:30 p.m. EDT). The conference is being held at the Ritz-Carlton in Laguna Nigel, California. Steve Worland, Ph.D., President and Chief Executive Officer of Anadys, will provide an overview of Anadys and its clinical development programs, ANA598 and ANA773.

Additionally, Dr. Worland will participate as a panelist on the Next Wave of New Antirvirals panel being held at the conference on Tuesday, March 16, 2010 at 7:00 a.m. PDT (10:00 a.m. EDT).

The corporate presentation will be simultaneously webcast and can be accessed on the Investor Relations page of the Company's website at http://www.anadyspharma.com/. Listeners are encouraged to visit the website approximately five minutes prior to the corporate presentation to download or install any necessary software. A replay of the presentation will be available approximately one hour after the live webcast concludes and will be available through March 30, 2010.

About Anadys

Anadys Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to improving patient care by developing novel medicines for the treatment of hepatitis C. The Company believes hepatitis C represents a large unmet medical need in which meaningful improvements in treatment outcomes may be attainable with the introduction of new medicines. The Company is developing ANA598, a non-nucleoside polymerase inhibitor for the treatment of hepatitis C. The Company has also investigated the potential of ANA773, an oral, small-molecule inducer of endogenous interferons that acts via the Toll-like receptor 7, or TLR7, pathway in hepatitis C.

Safe Harbor Statement

Statements in this press release that are not strictly historical in nature constitute "forward-looking statements." Such statements include, but are not limited to, references to Anadys' strategy, development programs, and ability to develop novel medicines for the treatment of hepatitis C. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause Anadys' actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. For example, the results of preclinical and early clinical studies may not be predictive of future results, and Anadys cannot provide any assurances that ANA598 or ANA773 will not have unforeseen safety issues, will have favorable results in ongoing or future clinical trials or will receive regulatory approval. Risk factors that may cause actual results to differ are more fully discussed in Anadys' SEC filings, including Anadys' Form 10-K for the year ended December 31, 2009. All forward-looking statements are qualified in their entirety by this cautionary statement. Anadys is providing this information as of this date and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

Anadys Pharmaceuticals, Inc.

CONTACT: Investors, Amy Conrad of Anadys Pharmaceuticals, Inc,
+1-858-530-3607, aconrad@anadyspharma.com; or media, Ian Stone,
ian.stone@russopartnersllc.com, or David Schull,
david.schull@russopartnersllc.com, both of Russo Partners, LLC,
+1-619-528-2220 for Anadys Pharmaceuticals, Inc

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

Ever-Glory Schedules Full Year 2009 Earnings Release and Conference Call

NANJING, China, March 9 /PRNewswire-Asia-FirstCall/ -- Ever-Glory International Group, Inc. (the "Company," "Ever-Glory") (NYSE Amex: EVK) today announced that the Company will report its financial results for the year ended December 31, 2009 on Tuesday, March 16, 2010 before the market opens.

The Company will hold a conference call with senior management to discuss the financial results the same day at 8:30 a.m. Eastern Time. Listeners can access the conference call by dialing #1-719-325-2106. The conference call will also be broadcast live over the Internet and can be accessed at the Company's web site at the following URL: http://www.everglorygroup.com/ .

A replay of the call will be available from March 16, 2010 through March 23, 2010 by calling #1-719-457-0820; pin number: 7348509.

About Ever-Glory International Group, Inc.

Based in Nanjing, China, Ever-Glory International Group, Inc. is a leading apparel supply chain manager and retailer in China. Ever-Glory is the first Chinese apparel company listed on the American Stock Exchange (now called NYSE Amex, and has a focus on middle-to-high grade casual wear, outerwear, and sportswear brands. The Company maintains global strategic partnerships in Europe, the United States, Japan and China, conducting business with several well-known brands and retail chain stores. In addition, Ever-Glory operates its own domestic chain of retail stores known as "LA GO GO."

Safe Harbor Statement

Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's products and projects, the Company's continued access to capital, currency exchange rate fluctuation and other risks and uncertainties. The actual results the Company achieves may differ materially from those contemplated by any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements. Readers should carefully review the risks and uncertainties described in the Company's latest Annual Report on Form 10-K and other documents that the Company files from time to time with the U.S. Securities and Exchange Commission.

Ever-Glory International Group, Inc.

CONTACT: Yan Guo, Chief Financial Officer of Ever-Glory International
Group, Inc., +86-25-5209-6889

Web site: http://www.everglorygroup.com/

ICE Announces April Holiday Trading Schedules

ATLANTA, March 9 /PRNewswire-FirstCall/ -- IntercontinentalExchange, Inc. , a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced the April 2010 holiday trading schedules for ICE Futures U.S., ICE Futures Europe, ICE Futures Canada and ICE Clear Europe CDS. ICE Trust and ICE OTC energy hours will remain unchanged.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090727/CL51999LOGO ) ICE Futures U.S. - Good Friday AGRICULTURAL PRODUCTS - Including RJ/CRB & CCI contracts DATE ELECTRONIC TRADE OPEN OUTCRY* HELP DESK ---- ---------------- ------------ --------- Friday, April 2 Closed Closed Closing at Noon ET FINANCIAL PRODUCTS - Including Currency Pairs & ICE U.S. Dollar Index DATE ELECTRONIC TRADE OPEN OUTCRY* HELP DESK ---- ---------------- ------------ --------- Early Close - Friday, April 2 11:15am ET Closed Closing at Noon ET STOCK INDEX PRODUCTS - NYSE Composite Index® & Russell Indexes DATE ELECTRONIC TRADE OPEN OUTCRY* HELP DESK ---- ---------------- ------------ --------- Early Close - Friday, April 2 9:15am ET Closed Closing at Noon ET *For those options contracts which continue to trade on the floor ICE Futures Europe - Good Friday & Easter Monday

CRUDE OIL & REFINED PRODUCTS - Including ASCI, Brent, WTI, MESC, Gasoil, Heating Oil & RBOB

DATE ELECTRONIC TRADE ---- ---------------- Friday, April 2 Closed Monday, April 5 Regular Hours UTILITIES & COAL- Including U.K. Power & U.K. Natural Gas DATE ELECTRONIC TRADE ---- ---------------- Friday, April 2 Closed Monday, April 5 Closed EMISSIONS DATE ELECTRONIC TRADE ---- ---------------- Friday, April 2 Closed Monday, April 5 Closed ICE Futures Canada - Good Friday DATE ELECTRONIC TRADE ---- ---------------- Friday, April 2 Closed ICE Clear Europe CDS - Good Friday & Easter Monday DATE ELECTRONIC TRADE ---- ---------------- Friday, April 2 Closed Monday, April 5 Closed See ICE Holiday Hours for more information. About IntercontinentalExchange

IntercontinentalExchange® is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe® hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S.® and ICE Futures Canada® list agricultural, currencies and Russell Index markets. ICE® is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 55 countries. http://www.theice.com/

The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, ICE, ICE and block design, and ICE Futures U.S., All other trademarks are the property of their respective owners. For more information regarding registered trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated companies, see https://www.theice.com/terms.jhtml.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2008, as filed with the SEC on February 11, 2009.

Photo: http://www.newscom.com/cgi-bin/prnh/20090727/CL51999LOGO IntercontinentalExchange

CONTACT: Investor and Media: Sarah Stashak, Director, Investor & Public
Relations, IntercontinentalExchange, +1-770-857-0340,
sarah.stashak@theice.com

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

MGM MIRAGE Is Named to Fortune Magazine's 'Most Admired Companies' List

LAS VEGAS, March 9 /PRNewswire-FirstCall/ -- MGM MIRAGE has been named among "America's Most Admired Companies" by Fortune Magazine in its prestigious listing of the nation's top corporations.

This is the ninth time that MGM MIRAGE has been named to the annual list based on a survey which evaluates the reputation of companies with large U.S. operations. MGM MIRAGE is one of only two gaming companies to be named to the list this year.

Fortune Magazine asked executives and analysts in their respective industries to rank 1,400 of the world's largest companies according to social responsibility, product quality and global competitiveness. A total of 346 companies were named to the 2010 list.

"We are pleased to be recognized by our business peers as one of the leading companies in the hospitality industry," said James J. Murren, Chairman and Chief Executive Officer of MGM MIRAGE. "Our ranking is testament to all of the hard work that our 62,000 employees do each day to ensure that we consistently deliver the highest quality products to each and every customer."

MGM MIRAGE joins other prominent companies on the this year's list such as Apple, Coca-Cola, Amazon.com, FedEx and others. The full list is available at http://money.cnn.com/magazines/fortune/mostadmired/2010/full_list/

MGM MIRAGE , one of the world's leading and most respected companies with significant holdings in gaming, hospitality and entertainment, owns and operates 15 properties located in Nevada, Mississippi and Michigan, and has 50% investments in five other properties in Nevada, New Jersey, Illinois and Macau. One of those investments - CityCenter - is also managed by MGM MIRAGE. CityCenter, an unprecedented urban metropolis on the Las Vegas Strip with Gold and Silver LEED(R) certifications, is a joint venture between MGM MIRAGE and Infinity World Development Corp, a subsidiary of Dubai World. CityCenter features ARIA Resort & Casino, Vdara Hotel & Spa, Mandarin Oriental, Las Vegas; Veer Towers, and Crystals retail and entertainment district. MGM MIRAGE Hospitality has entered into management agreements for casino and non-casino resorts throughout the world. MGM MIRAGE supports responsible gaming and has implemented the American Gaming Association's Code of Conduct for Responsible Gaming at its properties. MGM MIRAGE has received numerous awards and recognitions for its industry-leading Diversity Initiative and its community philanthropy programs. For more information about MGM MIRAGE, please visit the Company's Web site at http://www.mgmmirage.com/.

Statements in this release which are not historical facts are "forward looking" statements and "safe harbor statements" under the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including risks and/or uncertainties as described in the Company's public filings with the Securities and Exchange Commission.

MGM MIRAGE

CONTACT: Investors, Daniel Foley, +1-702-693-8211, or News Media, Alan
Feldman, +1-702-650-6947, afeldman@mirage.com, both of MGM MIRAGE

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

Bonanza Goldfields posts bond with BLM to begin property exploration

PHOENIX, March 9 /PRNewswire-FirstCall/ -- Bonanza Goldfields Corp (BONZ:OTCBB) announced today that it has paid the required bond with the U.S. Bureau of Land Management (BLM). This bond allows us to begin work on our BRB Claim which is currently comprised of two unpatented placer claims (320 acres) on BLM ground in the southern part of the Vulture Mining District, Maricopa County Arizona on the northeastern flank of the Belmont Mountains.

The program will consist of backhoe trenching on four separate trenches of differing length, of up to 3000 feet in total length. The alluvium encountered will vary from a few inches to several feet in depth. The samples retrieved will be dried, split and assayed according to standard industry practices.

Chris Tomkinson states, "Now that the bond has been set by the BLM and paid, we can now focus on the exploration of the property. We are working with our property managers Gold Explorations to firm up a date in the near future to move equipment on the property and start trenching."

About Bonanza Goldfields Corp.

Bonanza Goldfields Corp. engages in the acquisition, exploration and development of natural resource properties in the United States, primarily in the State of Arizona. The Company owns the mining rights to two unpatented placer claims in the Black Rock Basin (BRB), located on 320 acres of BLM ground in the southern part of the Vulture Mining District, Maricopa County Arizona on the northeastern flank of the Belmont Mountains. Over the past two years, Bonanza has taken over 400 soil and rock chip samples from the BRB claims. Prior samples indicate gold up to 0.10 oz per ton, silver up to 7 oz per ton, lead over 20% and zinc over 30% per ton with some copper. For more information on Bonanza Goldfields Corp., please visit http://www.bonanzagoldfields.com/

Certain statements contained in this news release that are not based on historical facts are "forward- looking statements" and are prospective. These statements may appear in a number of different places in this news release and can be identified by words such as "estimates", "projects", "expects", "intends", "believes", "plans", or their negatives or other comparable words. Forward-looking statements include statements regarding the outlook for Bonanza's future operations, plans and statements about future market conditions, supply and demand conditions, forecasts of future costs and expenditures, and other expectations, intentions and plans that are not historical fact. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Many of these factors are beyond the control of Bonanza. Consequently, all forward-looking statements made in this news release are qualified by this cautionary statement and there can be no assurance those actual results or developments anticipated will be realized.

Section 21E of the Securities Exchange Act of 1934 as amended, and is subject to the safe harbors created thereby. Such statements involve certain risks and uncertainties associated with an emerging company. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors discussed in Bonanza Goldfields Corp. reports that will be on file with the US Securities and Exchange Commission.

Bonanza Goldfields Corp

CONTACT: Denny Burns, (419) 951-4842

Eline Entertainment (EEGI) Hai Yi Training Centers Tops 1,000 Mark

HARBIN, China, March 9 /PRNewswire-FirstCall/ -- Eline Entertainment Group Inc. (EEGI, http://elineentertainment.com/) and its China based subsidiary Innovation Investment Group (Inn Group; http://www.ydwtz.com/eng/) announce, that the company's educational approach and business model reaps success across China.

The company's Training Centers are gaining more and more interest from the high-end or upper middle class communities, where the company focuses its market promotion. The relentless interest of the public in the company's educational concept forced the EEGI to expand its capacities in several centers.

The number of students in Hai Yi Training Center grew from the initial 300 to more than 1000 today, as the company expects this number to grow.

The company's South China Life Training Center in Dongguan City nears completion. The company began the center's market promotion, and signed co-operation agreements with a number of educational institutions. The new South China Life Training Center will be eventually able to accommodate 3,000 young children, the largest training institution of Innovation Investment group today.

In the light of this tremendous success, the company will broaden its curriculum from the current 8 subjects to 20 by the end of 2010. China's private education industry is a growing one. http://www.168report.com/Report/report0051.html The industry demands low investments while showing exceptional profit margins. Seeing the company's success on the educational market, many people, even some of the parents, want to cooperate and invest in Innovation Investment Group's projects.

In Summary: In 2008, 14.8271 million children were enrolled in kindergartens in China, up 3.4% yr-on-yr. By age, the children who accept early childhood education are mainly aged at 3 to 5, accounting for 57% of children enrolled in kindergartens; the number of over 5-year-old children accounts for 35%; and the number of under 3-year-old children takes 8%

The company reminds our shareholders and followers to monitor PinkSheets.com Filing Section and also our IR company web site section "NEWS AND FILINGS" TAB Non-newsworthy events are not press released however posted on these two separate support sites to keep our followers advised of day-to-day events. For any matters relating to retail investor queries or to send the company directly a message please click on the "INVESTOR SUPPORT" TAB or this direct link http://www.minamargroup.net/helpdesk.

Don't be a victim. The company is mindful that short sellers, the company competitors and stock bashers stalk small cap Pink Sheets listed companies with hidden agendas, where amongst other things they continuously spread false rumors, dark propaganda and innuendos in order to manipulate the trading patterns and thwart company plans for their own "quick profits" and self serving needs. The company and its supporters are monitoring these activities and those are promptly being reported on the http://www.stockbasher.com/ website. Visit http://www.stockbasher.com/ and find out what criminal and civil actions the US authorities and others are taking against these individuals.

Filings for this event are currently being reviewed and will be filed with Pink Sheets and Client Support Section in due course. To be included in company's email database for press releases, industry updates, and non-weekly activity at the company that may or may not be news released, please subscribe or opt in mailer at http://www.minamargroup.com/updates.

Safe Harbor Statement

Information in this news release may contain statements about future expectations, plans, prospects or performance of Eline Entertainment Group Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. Eline Entertainment Group Inc. cautions you that any forward-looking information provided by or on behalf of Eline Entertainment Group Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Eline Entertainment Group Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Eline Entertainment Group Inc.'s control. In addition to those discussed in Eline Entertainment Group Inc.'s press releases, public filings, and statements by Eline Entertainment Group Inc.'s management, including, but not limited to, Eline Entertainment Group Inc.'s estimate of the sufficiency of its existing capital resources, Eline Entertainment Group Inc.'s ability to raise additional capital to fund future operations, Eline Entertainment Group Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Eline Entertainment Group Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Eline Entertainment Group Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

CONTACT: For any investor relations matters, please contact http://www.minamargroup.net/helpdesk; Investor Relations Department Inquiry, http://www.minamargroup.net/ (IR); For (M&A) and Corporate Matters, http://www.minamargroup.com/

Eline Entertainment Group Inc.

CONTACT: For any investor relations matters, please contact
http://www.minamargroup.net/helpdesk; Investor Relations Department Inquiry,
http://www.minamargroup.net/ (IR); For (M&A) and Corporate Matters,
http://www.minamargroup.com/

AMB Property Corporation(R) Leases 142,000 SF in London Development Project

SAN FRANCISCO, March 9 /PRNewswire-FirstCall/ -- AMB Property Corporation® , a leading owner, operator and developer of global industrial real estate, today announced it has leased approximately 142,000 square feet (13,200 square meters) in its AMB East London Distribution Park. This new lease, to a FTSE 100 company, brings the two-building park to 100 percent leased.

"We are pleased to welcome this new customer to our portfolio in London," said Mo Barzagar, managing director, Europe. "Throughout the UK and continental Europe we're seeing a growing number of our customers whose expanding business needs require class-A facilities with increased access to their customers."

AMB East London Distribution Park is a two-building facility situated in Binary Park adjacent to a major highway that connects Central London to the M25, London's Orbital. It is located within ten miles of Central London and seven miles to the east of the 2012 Olympic Games site.

AMB's Europe portfolio totaled nearly 14 million square feet (1.3 million square meters) of operating and under development properties as of December 31, 2009.

AMB Property Corporation.® Local partner to global trade.(TM)

AMB Property Corporation® is a leading owner, operator and developer of global industrial real estate, focused on major hub and gateway distribution markets in the Americas, Europe and Asia. As of December 31, 2009, AMB owned, or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 155.1 million square feet (14.4 million square meters) in 47 markets within 14 countries. AMB invests in properties located predominantly in the infill submarkets of its targeted markets. The company's portfolio is comprised of High Throughput Distribution® facilities--industrial properties built for speed and located near airports, seaports and ground transportation systems.

AMB's press releases are available on the company website at http://www.amb.com/ or by contacting the Investor Relations department at +1 415 394 9000.

Some of the information included in this press release contains forward-looking statements, such as the occupation of the facility by the customer and the provision of real estate solutions, which are made pursuant to the safe-harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from those in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future events. The events or circumstances reflected in forward-looking statements might not occur. You can identify forward-looking statements by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "pro forma," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases. You can also identify forward-looking statements by discussions of strategy, plans or intentions. Forward-looking statements are necessarily dependent on assumptions, data or methods that may be incorrect or imprecise and we may not be able to realize them. We caution you not to place undue reliance on forward-looking statements, which reflect our analysis only and speak only as of the date of this report or the dates indicated in the statements. We assume no obligation to update or supplement forward-looking statements. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: changes in general economic conditions in California, the U.S. or globally (including financial market fluctuations), global trade or in the real estate sector (including risks relating to decreasing real estate valuations and impairment charges); risks associated with using debt to fund the company's business activities, including refinancing and interest rate risks (including inflation risks); the company's failure to obtain, renew, or extend necessary financing or access the debt or equity markets; the company's failure to maintain its current credit agency ratings or comply with its debt covenants; risks related to the company's obligations in the event of certain defaults under co-investment venture and other debt; risks associated with equity and debt securities financings and issuances (including the risk of dilution); defaults on or non-renewal of leases by customers or renewal at lower than expected rent or failure to lease at all or on expected terms; difficulties in identifying properties, portfolios of properties, or interests in real-estate related entities or platforms to acquire and in effecting acquisitions on advantageous terms and the failure of acquisitions to perform as the company expects; unknown liabilities acquired in connection with the acquired properties, portfolios of properties, or interests in real-estate related entities; the company's failure to successfully integrate acquired properties and operations; risks and uncertainties affecting property development, redevelopment and value-added conversion (including construction delays, cost overruns, the company's inability to obtain necessary permits and financing, the company's inability to lease properties at all or at favorable rents and terms, and public opposition to these activities); the company's failure to set up additional funds, attract additional investment in existing funds or to contribute properties to its co-investment ventures due to such factors as its inability to acquire, develop, or lease properties that meet the investment criteria of such ventures, or the co-investment ventures' inability to access debt and equity capital to pay for property contributions or their allocation of available capital to cover other capital requirements; risks and uncertainties relating to the disposition of properties to third parties and the company's ability to effect such transactions on advantageous terms and to timely reinvest proceeds from any such dispositions; risks of doing business internationally and global expansion, including unfamiliarity with the new markets and currency and hedging risks; risks of changing personnel and roles; risks related to suspending, reducing or changing the company's dividends; losses in excess of the company's insurance coverage; changes in local, state and federal regulatory requirements, including changes in real estate and zoning laws; increases in real property tax rates; risks associated with the company's tax structuring; increases in interest rates and operating costs or greater than expected capital expenditures; environmental uncertainties; risks related to natural disasters; and our failure to qualify and maintain our status as a real estate investment trust. Our success also depends upon economic trends generally, various market conditions and fluctuations and those other risk factors discussed under the heading "Risk Factors" and elsewhere in our most recent annual report on Form 10-K for the year ended December 31, 2009.

AMB Property Corporation

CONTACT: Tracy A. Ward, Vice President, IR & Corporate Communications,
+1-415-733-9565, tward@amb.com, or Jon M. Boilard, Director, Media and Public
Relations, +1-415-733-9561, jboilard@amb.com, both of AMB Property
Corporation

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

Optelecom-NKF, Inc., Reports Fourth Quarter and Full Year 2009 Results and Restructures Subordinated Debt

GERMANTOWN, Md., March 9 /PRNewswire-FirstCall/ -- Optelecom-NKF, Inc. , a leading global provider of Siqura® surveillance solutions, today reported results for the fourth quarter and full year of 2009.

Revenue for the fourth quarter totaled $9.3 million, a decrease of 21% compared to revenue of $11.8 million for the same period a year ago. Revenue increased 12% on a sequential basis from the $8.3 million reported for the prior quarter ending September 30, 2009. For the full year of 2009, revenue totaled $36.2 million compared to revenue of $45.2 million for 2008.

The net loss for the fourth quarter of 2009 was $234 thousand, or ($0.06) per diluted share, compared to a net loss of $3.0 million, or ($0.81) per share for the same period in 2008. The fourth quarter of 2008 included non-cash charges of $3.5 million, primarily for the write-down of deferred tax assets. For all of 2009, Optelecom-NKF reported a net loss of $2.4 million, or ($0.66) per diluted share, compared to a net loss of $1.8 million, or ($0.48), in 2008.

Optelecom-NKF also announced the restructuring of subordinated debt held by Draka Holding, N.V. Under terms of the agreement, Optelecom-NKF will make quarterly interest payments at an annual interest rate of 10% and provide Draka with additional collateral and a pledge of assets. In exchange, Optelecom-NKF received a one year extension of the term to March 8, 2011. Prior to the execution of the restructuring agreement with Draka, Optelecom-NKF paid off and terminated the senior term loan and line of credit facilities with M&T Bank.

"While we showed improvement quarter-to-quarter and restructured our debt, it's clear we must continue to take steps to support long term growth and contain costs," said Dave Patterson, Optelecom-NKF's president and CEO. "Our ongoing focus is on improving global sales performance. We'll continue to strengthen our Siqura brand, streamline how we work, and work to improve our insight into the evolving needs of our customers."

"During the business downturn, we implemented a reduction-in-force and cut overhead to a level more in line with our revenues. We also made changes in our sales leadership and structure. We now have fewer levels from the bottom to top, improving the flow of information and increasing the speed of decision making. While the business environment seems to be improving, we have yet to see capital spending commitments by customers rebound to pre-crisis levels. Appropriately, we've laid out a conservative plan for 2010, anticipating that we can quickly adapt should conditions exceed our expectation."

Fourth Quarter Conference Call

The Company will host a conference call to discuss its results on Wednesday, March 10, 2010 at 10:00 AM Eastern time. To participate live over the Internet go to: http://www.videonewswire.com/event.asp?id=66480

Participant Dial In (U.S. Toll Free): 1-800-860-2442 Participant International Dial In: +1-412-858-4600 Parties should ask for: Optelecom-NKF Conference Call Playback Dial In (U.S. Toll Free): 1-877-344-7529 Playback International Dial In: +1-412-317-0088. Playback code: 438229

If you are unable to participate during the live webcast, the event will be archived at http://www.videonewswire.com/event.asp?id=66480

About Optelecom-NKF

Optelecom-NKF, Inc. , manufacturer of Siqura® advanced video surveillance solutions, provides a full range of network products based on an open technology platform that simplifies integration and installation. Our Siqura® solutions offer a perfect blend of ease of use and processing power, enabling end users to optimize the effectiveness of their surveillance systems while reducing the total cost of ownership. All products and solutions are developed and tested for professional and missioncritical applications, such as at highway departments, airports, seaports, casinos, public transport authorities, hospitals, city centers, shopping centers, military bases, and corporate and government campuses. Founded in 1972, Optelecom-NKF is committed to providing its customers with expert technical advice and support.

Investor inquiries should be directed to Mr. Rick Alpert at +1 301-948-7872.

Press inquiries for Europe, Middle East, Africa, and Asia should be directed to Kate Huber khuber@optelecom-nkf.com tel. +31 182 592 215

Press inquiries for North and Latin America should be directed to Betsy Lanning, blanning@optelecom-nkf.com tel. +1 301-444-2276

For more information please visit our website: http://www.optelecom-nkf.com/ OPTELECOM-NKF, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED DECEMBER 31, (Dollars in Thousands, Except Share Amounts) 2009 2008 ---- ---- Revenue $9,273 $11,751 Cost of goods sold 3,922 4,862 ----- ----- Gross profit 5,351 6,889 Operating expenses: Sales and marketing 2,531 2,596 Engineering 1,108 1,516 General and administrative 1,640 1,445 Amortization of intangibles 178 159 --- --- Total operating expenses 5,457 5,716 Income (Loss) from operations (106) 1,173 Other expense, net 249 511 --- --- Income (Loss) before income taxes (355) 662 Provision (Benefit) for income taxes (121) 3,620 ---- ----- Net (Loss) Income $(234) $(2,958) ===== ======= Basic (Loss) Income per share $(0.06) $(0.81) ====== ====== Diluted (Loss) Income per share $(0.06) $(0.81) ====== ====== Weighted average common shares outstanding -basic 3,653,379 3,644,754 ========= ========= Weighted average common shares outstanding -diluted 3,653,379 3,644,754 ========= ========= Net (Loss) Income $(234) $(2,958) Foreign currency translation (287) (1,144) ---- ------ Comprehensive (Loss) Income $(521) $(4,102) ===== ======= OPTELECOM-NKF, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE TWELVE MONTHS ENDED DECEMBER 31, (Dollars in Thousands, Except Share Amounts) 2009 2008 ---- ---- Revenue $36,177 $45,165 Cost of goods sold 15,469 17,938 ------ ------ Gross profit 20,708 27,227 Operating expenses: Sales and marketing 10,745 11,099 Engineering 4,740 6,013 General and administrative 6,305 6,923 Amortization of intangibles 672 739 --- --- Total operating expenses 22,462 24,774 Income (Loss) from operations (1,754) 2,453 Other expense, net 841 996 --- --- Income (Loss) before income taxes (2,595) 1,457 Provision (Benefit) for income taxes (199) 3,213 ---- ----- Net (Loss) Income $(2,396) $(1,756) ======= ======= Basic (Loss) Income per share $(0.66) $(0.48) ====== ====== Diluted (Loss) Income per share $(0.66) $(0.48) ====== ====== Weighted average common shares outstanding -basic 3,647,543 3,638,783 ========= ========= Weighted average common shares outstanding -diluted 3,647,543 3,638,783 ========= ========= Net (Loss) Income $(2,396) $(1,756) Foreign currency translation 235 (872) --- ---- Comprehensive (Loss) income $(2,161) $(2,628) ======= ======= OPTELECOM-NKF, INC. CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2009 AND DECEMBER 31, 2008 (Dollars in Thousands, Except Share Amounts) December 31, December 31, 2009 2008 ---- ---- ASSETS CURRENT ASSETS Cash & cash equivalents $4,244 $5,671 Accounts receivable and contracts receivable, net of allowance for doubtful accounts of $386 and $245 8,209 10,290 Inventories, net 4,343 5,782 Deferred tax asset - current 240 205 Prepaid expenses and other current assets 893 1,152 --- ----- Total Current Assets 17,929 23,100 Property & equipment, less accumulated depreciation of $5,681 and $7,820 1,593 2,063 Deferred tax asset - non-current - - Intangible assets, net of accumulated amortization of $3,609 and $2,870 6,609 7,180 Goodwill 14,848 14,603 Other assets 209 202 --- --- TOTAL ASSETS 41,188 47,148 ====== ====== LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable 2,012 3,634 Accrued payroll 1,225 1,841 Commissions payable 55 198 Bank line of credit - - Current portion of notes payable and interest payable 14,725 3,468 Accrued warranty reserve 422 410 Taxes payable - 931 Other current liabilities 1,233 1,688 ----- ----- Total Current Liabilities 19,672 12,170 Notes payable - 10,367 Deferred tax liabilities 1,513 1,427 Interest payable - 1,744 Other liabilities 188 249 --- --- Total Liabilities 21,373 25,957 STOCKHOLDERS' EQUITY Common Stock, $.03 par value-shares authorized, 15,000,000; issued and outstanding, 3,653,644 and 3,645,084 shares as of December 31, 2009, and December 31, 2008, respectively 110 109 Additional paid-in capital 17,036 16,252 Accumulated other comprehensive income 2,769 2,534 Treasury stock, 162,672 shares at cost (1,265) (1,265) Retained earnings 1,165 3,561 ----- ----- Total stockholders' equity 19,815 21,191 ------ ------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $41,188 $47,148 ======= ======= Non-GAAP Earnings Addendum

We define Adjusted EBITDA as net income or net loss plus interest expense, income taxes, foreign exchange gains and losses, depreciation and amortization. Adjusted EBITDA is not a measure of cash flow or liquidity as determined by U.S. generally accepted accounting principles (GAAP). We have included Adjusted EBITDA as a supplemental disclosure because we believe that it is widely used by investors, industry analysts and others as a useful supplemental measure. Optelecom-NKF calculates and uses Adjusted EBITDA as an indicator of its ability to generate cash from reported operating results.

Adjusted EBITDA does not represent funds available for our discretionary use and is not intended to represent or to be used as a substitute for net income or cash flows from operations data as measured under GAAP. The items excluded from Adjusted EBITDA but included in the calculation of Optelecom-NKF's reported net income are significant components of the accompanying unaudited consolidated statements of operations, and must be considered in performing a comprehensive assessment of overall financial performance. Other companies may calculate Adjusted EBITDA differently than we do, which may limit its usefulness as a comparative measure.

The table below presents a reconciliation of net income to Adjusted EBITDA:

Three Months Twelve Months Ended Ended (Unaudited) December 31, December 31, -------------- -------------- (Dollars in Thousands) 2009 2008 2009 2008 ---------------------- ---- ---- ---- ---- Net (Loss) income $(234) $(2,958) $(2,396) $(1,756) Add: Interest expense, net 316 165 805 734 Provision (Benefit) for income taxes (121) 3,620 (199) 3,213 Foreign currency loss (gain) (67) 346 36 262 Depreciation 249 250 962 1,051 Amortization 178 159 672 739 --- --- --- --- Adjusted EBITDA $321 $1,582 $(120) $4,243 ---- ------ ----- ------

Video: http://www.videonewswire.com/event.asp?id=66480 Optelecom-NKF, Inc.

CONTACT: Investor inquiries, Mr. Rick Alpert, +1 301-948-7872; Press
inquiries for Europe, Middle East, Africa, and Asia, Kate Huber, +31 182 592
215, khuber@optelecom-nkf.com; Press inquiries for North and Latin America,
Betsy Lanning, +1-301-444-2276, blanning@optelecom-nkf.com

Web Site: http://www.optelecom-nkf.com/

J.Crew Group, Inc. Announces Fourth Quarter and Fiscal 2009 ResultsFourth Quarter Revenues Rise 19% to $460.6 million Fourth Quarter Diluted EPS of $0.61 Fiscal 2009 Diluted EPS of $1.91

NEW YORK, March 9 /PRNewswire-FirstCall/ -- J.Crew Group, Inc. today announced financial results for the three months (fourth quarter) and fiscal year ended January 30, 2010 (fiscal 2009).

Fourth Quarter highlights: -- Revenues increased 19% to $460.6 million. Store sales increased 23% to $311.1 million, with comparable store sales increasing 17%. Comparable store sales decreased 13% in the fourth quarter of fiscal 2008. Direct sales (Internet and Phone) increased 13% to $139.2 million. Direct sales decreased 2% to $123.0 million in the fourth quarter of fiscal 2008. -- Gross margin increased to 43.9% of revenues from 27.6% of revenues in the fourth quarter of fiscal 2008. The increase in gross margin is primarily due to decreased markdowns and promotional selling in the fourth quarter of 2009 compared to 2008. -- Operating income increased to $68.6 million, or 14.9% of revenues, compared with an operating loss of $20.4 million, or 5.3% of revenues, in the fourth quarter of fiscal 2008. -- Net income in the fourth quarter of fiscal 2009 was $40.4 million, or $0.61 per diluted share. Net loss was $13.5 million, or $0.22 per diluted share, in the fourth quarter of fiscal 2008.

Millard Drexler, J.Crew's Chairman and CEO stated: "We are extremely pleased with all we achieved in 2009. Our bar has been set high and it is our continued mission to be creative, to be innovative, and to emotionally connect with our customers."

Fiscal 2009 highlights: -- Revenues increased 11% to $1,578.0 million. Store sales increased 14% to $1,110.9 million, with comparable store sales increasing 4%. Comparable store sales decreased 4% in fiscal 2008. Direct sales increased 5% to $428.2 million. Direct sales increased 8% to $408.9 million in fiscal 2008. -- Gross margin increased to 44.1% of revenues from 38.9% of revenues in fiscal 2008. -- Operating income increased to $211.3 million, or 13.4% of revenues, compared to $96.7 million, or 6.8% of revenues, in fiscal 2008. -- Net income for fiscal 2009 was $123.4 million, or $1.91 per diluted share. Net income was $54.1 million, or $0.85 per diluted share, in fiscal 2008. Balance Sheet highlights as of January 30, 2010: -- Cash and cash equivalents were $298.1 million at the end of the fourth quarter and after a voluntary principal payment of debt of $50 million made during fiscal 2009. Cash and cash equivalents were $146.4 million at the end of fiscal 2008. -- Inventories at the end of the fourth quarter were $190.2 million, compared to $187.0 million at the end of the fourth quarter of fiscal 2008. Inventory per square foot at the end of fiscal 2009 decreased 3%, compared to the end of fiscal 2008. Guidance

The Company currently expects first quarter fiscal 2010 diluted earnings per share in the range of $0.48 to $0.53 and fiscal 2010 diluted earnings per share in the range of $2.20 to $2.30.

Conference Call Information

A conference call to discuss fourth quarter results is scheduled for today, March 9, 2010, at 4:30 PM Eastern Time. Investors and analysts interested in participating in the call are invited to dial (877) 407-0784 approximately ten minutes prior to the start of the call. The conference call will also be webcast live at http://www.jcrew.com/. A replay of this call will be available until March 16, 2010 and can be accessed by dialing (877) 660-6853 and entering account number 3055 and conference ID number 345777.

About J.Crew Group, Inc.

J.Crew Group, Inc. is a nationally recognized multi-channel retailer of women's, men's and children's apparel, shoes and accessories. As of March 9, 2010, the Company operates 244 retail stores (including 218 J.Crew retail stores, 9 Crewcuts and 17 Madewell stores), the J.Crew catalog business, jcrew.com, and 79 factory outlet stores. Additionally, certain product, press release and SEC filing information concerning the Company are available at the Company's website http://www.jcrew.com/.

Forward-Looking Statements:

Certain statements herein are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and actual results of operations may differ materially from historical results or current expectations. Any such forward-looking statements are subject to various risks and uncertainties, including the strength of the economy, changes in the overall level of consumer spending or preferences in apparel, the performance of the Company's products within the prevailing retail environment, trade restrictions, political or financial instability in countries where the Company's goods are manufactured, postal rate increases, paper and printing costs, availability of suitable store locations at appropriate terms and other factors which are set forth in the Company's Form 10-K and in all filings with the SEC made by the Company subsequent to the filing of the Form 10-K. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Exhibit (1) J.Crew Group, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, Three Three Fiscal Fiscal except Months Months Year Year percentages Ended Ended Ended Ended and per share January January January January amounts) 30, 2010 31, 2009 30, 2010 31, 2009 Net sales Stores $311,061 $252,026 $1,110,932 $974,284 Direct 139,174 122,957 428,186 408,916 450,235 374,983 1,539,118 1,383,200 Other 10,374 13,054 38,924 44,770 Total Revenues 460,609 388,037 1,578,042 1,427,970 Costs of goods sold, buying and occupancy costs 258,542 281,101 882,385 872,547 Gross Profit 202,067 106,936 695,657 555,423 As a percent of revenues 43.9% 27.6% 44.1% 38.9% Selling, general and administrative expenses 133,471 127,378 484,396 458,738 As a percent of revenues 29.0% 32.8% 30.7% 32.1% Operating income (loss) 68,596 (20,442) 211,261 96,685 As a percent of revenues 14.9% (5.3%) 13.4% 6.8% Interest expense, net 2,177 1,570 5,384 5,940 Income (loss) before income taxes 66,419 (22,012) 205,877 90,745 Provision (benefit) for income taxes 25,983 (8,463) 82,517 36,628 Net income (loss) $40,436 $(13,549) $123,360 $54,117 Income (loss) per share: Basic $0.64 ($0.22) $1.97 $0.88 Diluted $0.61 ($0.22) $1.91 $0.85 Weighted average shares outstanding: Basic 63,085 61,991 62,583 61,687 Diluted 65,882 61,991 64,714 64,027 Exhibit (2) J.Crew Group, Inc. Condensed Consolidated Balance Sheets (Unaudited) January 30, January 31, (In thousands) 2010 2009 Assets Current assets: Cash and cash equivalents $298,107 $146,430 Inventories 190,231 187,044 Prepaid expenses and other current assets 29,522 34,926 Prepaid income taxes 1,455 23,116 Total current assets 519,315 391,516 Property and equipment, net 194,615 201,675 Deferred income taxes, net 14,851 8,862 Other assets 9,777 11,756 Total assets $738,558 $613,809 Liabilities and Stockholders' equity Current liabilities: Accounts payable $127,733 $119,719 Other current liabilities 106,652 83,889 Deferred income taxes, net 958 4,049 Current portion of long-term debt - 800 Total current liabilities 235,343 208,457 Long-term debt 49,229 99,200 Deferred credits 67,646 73,815 Other liabilities 10,462 7,388 Stockholders' equity 375,878 224,949 Total liabilities and stockholders' equity $738,558 $613,809 (Exhibit 3) Actual and Projected Store Count and Square Footage (Note 1) Actual Fiscal 2009 Total stores Number of Number of Total stores open at stores stores closed open at end beginning opened during during of the Quarter of the quarter the quarter the quarter quarter 1st Quarter 300 12 2 310 2nd Quarter 310 9 0 319 3rd Quarter 319 2 1 320 4th Quarter 320 1 0 321 Actual Fiscal 2009 Reduction of gross square Gross square feet for Total gross feet for stores stores closed Total gross square feet opened or or downsized square feet at beginning expanded during during the at end of Quarter of the quarter the quarter quarter the quarter 1st Quarter 1,864,133 52,185 (8,258) 1,908,060 2nd Quarter 1,908,060 38,166 0 1,946,226 3rd Quarter 1,946,226 10,274 (2,872) 1,953,628 4th Quarter 1,953,628 4,512 0 1,958,140 Projected Fiscal 2010 (Note 2) Total stores Number of Number of Total stores open at stores stores closed open at end beginning opened during during of the Quarter of the quarter the quarter the quarter quarter 1st Quarter 321 5 0 326 2nd Quarter 326 2 1 327 3rd Quarter 327 4 0 331 4th Quarter 331 4 0 335 Projected Fiscal 2010 Reduction of gross square Gross square feet for Total gross feet for stores stores closed Total gross square feet opened or or downsized square feet at beginning expanded during during the at end of Quarter of the quarter the quarter quarter the quarter 1st Quarter 1,958,140 25,168 (615) 1,982,693 2nd Quarter 1,982,693 7,631 (7,822) 1,982,502 3rd Quarter 1,982,502 13,249 0 1,995,751 4th Quarter 1,995,751 24,605 0 2,020,356 Note 1 - Store count and square footage summary excludes three clearance store locations. Note 2 - Projected number of stores opened during Fiscal 2010 by quarter: 1st Quarter - two retail and three factory stores. 2nd Quarter - one retail and one Madewell store. 3rd Quarter - two retail and two Madewell stores. 4th Quarter - one retail, two factory and one Madewell store.

J.Crew Group, Inc.

CONTACT: James S. Scully, Chief Administrative Officer and Chief
Financial Officer of J.Crew Group, Inc., +1-212-209-8040; or Investor Contact:
Allison Malkin, Chad Jacobs, or Joe Teklits, all of ICR, Inc.,
+1-203-682-8200

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

Micromet Announces Proposed Public Offering of Common Stock

BETHESDA, Md., March 9 /PRNewswire-FirstCall/ -- Micromet, Inc. announced today that it is offering to sell, subject to market and other conditions, 10 million shares of common stock in an underwritten public offering. In connection with the offering, the Company expects to grant the underwriters a 30-day option to purchase an additional 1.5 million shares of common stock from the Company. All of the shares in the offering are being offered by Micromet.

Goldman, Sachs & Co. is acting as sole book-running manager for this offering. Information about the offering will be available in a preliminary prospectus supplement to be filed with the Securities and Exchange Commission. Copies of the preliminary prospectus supplement and prospectus, when available, may be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad Street, New York, New York 10004, Telephone 1-866-471-2526, or by email at prospectus-ny@ny.email.gs.com

The shares will be offered and sold pursuant to a shelf registration statement filed with the Securities and Exchange Commission on October 16, 2009 and declared effective on November 2, 2009.

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy the Company's common stock, nor shall there be any sale of the common stock 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 any state or jurisdiction. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective shelf registration statement.

About Micromet

Micromet, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of antibody-based therapies for the treatment of cancer. Its product development pipeline includes novel antibodies generated with its proprietary BiTE® technology, as well as conventional monoclonal antibodies. Two of Micromet's BiTE antibodies and three of its conventional antibodies are currently in clinical trials. Micromet has collaborations with a number of leading pharmaceutical and biotechnology companies, including sanofi-aventis, Bayer Schering Pharma, Merck Serono, MedImmune and Nycomed.

Safe Harbor Statement

This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein which do not describe historical facts, including but not limited to, statements regarding the proposed offering of our securities, are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Such risks and uncertainties include uncertainties regarding the market conditions and investor interest in the offering and other risks identified in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the year ended December 31, 2009. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. We disclaim any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

Micromet, Inc.

CONTACT: Jennifer Neiman, Director, Corporate Communications, Micromet,
Inc., +1-240-235-0246, Jennifer.neiman@micromet-inc.com or Susan Noonan,
Managing Partner, S.A. Noonan Communications, +1-212-966-3650,
susan@sanoonan.com

Eline Entertainment (EEGI) Hai Yi Training Centers Over 1,000

HARBIN, China, March 9 /PRNewswire-FirstCall/ -- Eline Entertainment Group Inc. (EEGI, http://elineentertainment.com/) and its China based subsidiary Innovation Investment Group (Inn Group; http://www.ydwtz.com/eng/) inform the public that the company's educational approach and business model reap success across China.

EEGI and its Innovation Investment Group announce that the company's Training Centers gain more and more interest from the high-end communities, where the company focuses its market promotion. The relentless interest of the public in the company's educational concept forced the EEGI to expand its capacities in several centers.

The number of students in Hai Yi Training Center grew from the initial 300 to more than 1000 today, and the company expects this number to grow.

In the light of this tremendous success, the company will broaden its curriculum from the current 8 subjects to 20 by the end of 2010. China's private education industry grows. The industry demands low investments while showing exceptional profit margins. Seeing the company's success on the educational market, many people, even some of the parents, want to cooperate and invest in Innovation Investment Group's projects.

The company reminds our shareholders and followers to monitor PinkSheets.com Filing Section and also our IR company web site section "CLIENT SUPPORT" TAB http://www.minamargroup.net/ or this direct link http://minamarmarketinggroup.helpserve.com/ for further updates on this and other business matters. Non-newsworthy events are not press released however posted on these two separate support sites to keep our followers advised of day-to-day events. For any matters relating to retail investor queries or to send us the company directly a message please click on the "INVESTOR SUPPORT" TAB or this direct link http://www.minamargroup.net/helpdesk.

Don't be a victim. The company is mindful that short sellers, the company's competitors and stock bashers stalk small cap Pink Sheets listed companies with hidden agendas, where amongst other things they continuously spread false rumors, dark propaganda and innuendos in order to manipulate the trading patterns and thwart company plans for their own "quick profits" and self serving needs. The company and its supporters are monitoring these activities and those are promptly being reported on the http://www.stockbasher.com/ website. Visit http://www.stockbasher.com/ and find out what criminal and civil actions the US authorities and others are taking against these individuals.

Filings for this event are currently being reviewed and will be filed with Pink Sheets and Client Support Section in due course. To be included in the company's email database for press releases, industry updates, and non-weekly activity at the company that may or may not be news released, please subscribe or opt in mailer at http://www.minamargroup.com/updates.

Safe Harbor Statement

Eline Entertainment Group Inc.

CONTACT: For any investor relations matters, please contact
http://www.minamargroup.net/helpdesk; Investor Relations Department Inquiry,
http://www.minamargroup.net/ (IR); For (M&A) and Corporate Matters,
http://www.minamargroup.com/

Cowlitz Bancorporation Receives Nasdaq Notice

LONGVIEW, Wash., March 9 /PRNewswire-FirstCall/ -- Cowlitz Bancorporation (the "Company") today announced that the Company received a letter from the Nasdaq Stock Market ("Nasdaq") on March 3, 2010 providing notice that the Company no longer meets the minimum 500,000 publicly held shares requirement for The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(4). For Nasdaq purposes, publicly held shares is equal to total shares outstanding less any shares held by officers, directors or beneficial owners of 10 percent or more shares. Nasdaq's letter advises the Company to provide Nasdaq with a specific plan to achieve and sustain compliance with all The Nasdaq Capital Market listing requirements, including the time frame for completion of the plan, by April 19, 2010. The Company anticipates submitting a compliance plan prior to the deadline and working with Nasdaq to achieve full compliance. The Company's common stock remains listed with Nasdaq.

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by, among other things, the use of forward-looking terms such as "likely," "typically," "may," "intends," "expects," "believes," "anticipates," "estimates," "projects," "targets," "forecasts," "seeks," "potential," "hopeful," or "attempts" or the negative of such terms or other variations on such terms or comparable terminology. By their nature, these statements are subject to risks, uncertainties and other factors, which could cause actual future results to differ materially from those results expressed or implied by such forward-looking statements. Do not unduly rely on forward-looking statements. They give the Company's expectations about the future and are not guarantees. Forward-looking statements speak only as of the date they are made, and, except as required by law, the Company does not intend to update them to reflect changes that occur after that date. For a discussion of factors that may cause actual results to differ from expectations, refer to the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2008 and Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2009. Any factor described in this press release or in any document referred to in this press release could, by itself or together with one or more other factors, adversely affect the Company's business, earnings and/or financial condition. We make forward-looking statements regarding future actions of Nasdaq and the future listing of the Company's securities.

Cowlitz Bancorporation

CONTACT: Richard J. Fitzpatrick, Chief Executive Officer, or Gerald L.
Brickey, Chief Financial Officer, both of Cowlitz Bancorporation,
+1-360-423-9800

MICROS and wagamama Team-up to Offer the First Fully Integrated Ordering Smart Phone App in the UK

COLUMBIA, Md., March 9 /PRNewswire-FirstCall/ -- MICROS Systems, Inc. , a leading provider of information technology solutions for the hospitality and retail industries, is pleased to announce that wagamama and MICROS have teamed with Apple to deliver an improved customer experience with its fully integrated, online carry-out service. wagamama is the first to deploy a Smart Phone Application (app.) that is connected directly to its MICROS point-of-sale (POS) via MICROS's mycentral Dynamic Updates, and is the first restaurant chain based in the UK to deploy a fully integrated phone app. that in the future will facilitate ordering from all its locations, no matter in which country it is located.

The world famous Pan-Asian restaurant chain has launched an end-to-end, fully integrated online ordering facility for carry-out meals. Customers can now place and pay for an order that they collect at an agreed time. The ordering process is accelerated significantly by eliminating the interaction with a member of staff over the telephone and processing the order online via a truly original iPhone App.

"At wagamama, we have always embraced the newest technology, and we are proud to be first-to-market in the restaurant sector with our new iPhone App. Bringing the wagamama experience to the iPhone offers more flexible ordering than ever before, coupled with the speed and quality of service that our customers know and love," stated wagamama CEO, Steve Hill.

"We are delighted to be able to have been a part of an industry first in making the ordering process of carry-out food even easier, faster and much, much more convenient," stated Tim Brown, Vice President, MICROS Strategic Accounts.

The user-friendly system remembers the customer by creating a unique account portfolio which includes all previous orders, simplifying order-entry for repeat customers. wagamama sees speed of service as key to its core values and has always embraced the most current technology. Offering a fully integrated online ordering service improves overall guest experience and employee efficiency; additional benefits include order tracking and links with kitchen systems.

About wagamama

wagamama is a pan-asian restaurant inspired by the hustle and bustle of canteen style japanese noodle bars, but its menu is an unmistakable blend of pan-asian flavors and the freshest seasonal ingredients from closer to home

it has more than 100 restaurants in the uk, europe, the pacific rim, middle east and usa. since 1992 its philosophy remains unchanged: to combine great, fresh and nutritious food in an elegant yet simple setting with helpful, friendly service and value for money

wagamama has been voted london's most popular restaurant by zagat for the fifth year in a row

you can find wagamama in various london locations, basingstoke, bath, birmingham, bournemouth, brighton, bristol, cambridge, canterbury, cardiff, croydon, exeter, glasgow, guildford, harrogate, heathrow terminal 5, high wycombe, kingston, lakeside, leeds, leicester, liverpool, livingston, manchester, milton keynes, newcastle, norwich, nottingham, oxford, reading, salisbury, sheffield, solihull, st albans, tunbridge wells, walton-on-thames, and windsor

About MICROS Systems, Inc.

MICROS Systems, Inc. provides enterprise applications for the hospitality and retail industries worldwide. Over 310,000 MICROS systems are currently installed in table and quick service restaurants, hotels, motels, casinos, leisure and entertainment, and retail operations in more than 130 countries, and on all seven continents. In addition, MICROS provides property management systems, central reservation and customer information solutions under the brand MICROS-Fidelio for more than 25,000 hotels worldwide, as well as point-of-sale, loss prevention, and cross-channel functionality through its MICROS-Retail division for more than 90,000 retail stores worldwide. MICROS stock is traded through NASDAQ under the symbol MCRS.

For more information on MICROS and its advanced information technology solutions for the hospitality industry, please contact Louise Casamento, Vice President of Marketing at (443) 285-8144 or (866) 287-4736. You can also visit the MICROS website at http://www.micros.com/ or send an email to info@micros.com.

The MICROS logo is a registered trademark of MICROS Systems, Inc. All other product and brand names are the property of their respective owners.

Contact: Louise Casamento Vice President of Marketing (443) 285-8144

MICROS Systems, Inc.

CONTACT: Louise Casamento, Vice President of Marketing, +1-443-285-8144

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

Protalix Appoints Mr. Zeev Bronfeld Interim Chairman of the Board of Directors

CARMIEL, Israel, March 9 /PRNewswire-FirstCall/ -- Protalix BioTherapeutics, Inc. (NYSE-Amex: PLX), announced today that Mr. Eli Hurvitz is relinquishing his position as Chairman and member of the Board of Directors of the Company in order to focus on recovering from a recently diagnosed illness. The Company's Board of Directors has unanimously appointed Mr. Zeev Bronfeld, a longstanding member of the Board of Directors, to serve as interim Chairman of the Board, effective immediately.

"We are very thankful to have had Mr. Eli Hurvitz serve as our Chairman. He brought a wealth of knowledge and expertise to Protalix that helped to grow the Company from a private research company to a fully integrated biotechnology company," said Mr. Bronfeld. "On behalf of everyone at Protalix, we wish Eli a fast and full recovery and hope he returns to his position with Protalix quickly."

Mr. Bronfeld became the Company's first investor and director in 1996. As a seasoned healthcare investor, Mr. Bronfeld brings vast experience in management and value building of biotechnology companies to the Company. He is a co-founder of Biocell Ltd., an Israeli publicly traded biotechnology holding company and has served as its Chief Executive Officer since 1986. Mr. Bronfeld currently serves as a director of Biocell Ltd., D. Medical Industries Ltd., and Biomedix Incubator Ltd., all of which are publicly-traded on the Tel Aviv Stock Exchange. Mr. Bronfeld is also a director of Meitav Technological Incubator Ltd., Ecocycle Israel Ltd., Contipi Ltd., Nilimedix Ltd., G-Sense Ltd. and L.N. Innovative Technologies. Mr. Bronfeld holds a B.A. in Economics from the Hebrew University.

About Protalix

Protalix is a biopharmaceutical company focused on the development and commercialization of proprietary recombinant therapeutic proteins expressed through its proprietary plant cell based expression system. Protalix's ProCellEx(TM) presents a proprietary method for the expression of recombinant proteins that the Company believes will allow for the industrial-scale production of recombinant therapeutic proteins in an environment free of mammalian components and viruses. Protalix is also advancing additional recombinant biopharmaceutical drug development programs. Taliglucerase alfa is an enzyme replacement therapy in development under a Special Protocol Assessment with the FDA for Gaucher disease. In August 2009, the FDA granted orphan drug status and fast track designation to taliglucerase alfa for the treatment of Gaucher disease and Protalix filed a rolling NDA submission with the FDA in December 2009. In November 2009, Protalix granted Pfizer Inc. exclusive, worldwide rights to develop and commercialize taliglucerase alfa for the treatment of Gaucher disease, except in Israel. Protalix retained the right to commercialize taliglucerase alfa in Israel.

Safe Harbor Statement:

To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes and are valid only as of the date hereof. We disclaim any obligation to update this information except to the extent required by law.

Investor Contact: Marcy Nanus The Trout Group, LLC Telephone: 646-378-2927 Email: mnanus@troutgroup.com Media Contact: Brad Miles BMC Communications Group, LLC Telephone: 212-477-9007 x17 Email: brad@bmccommunications.com

Protalix BioTherapeutics, Inc.

CONTACT: Investors, Marcy Nanus, The Trout Group, LLC, +1-646-378-2927,
mnanus@troutgroup.com; or Media, Brad Miles, BMC Communications Group, LLC,
+1-212-477-9007 x17, brad@bmccommunications.com

Resources Global Professionals to Announce 2010 Third Quarter Results on April 1, 2010

IRVINE, Calif., March 9 /PRNewswire-FirstCall/ -- Resources Global Professionals, a leading multinational provider of professional services and the operating subsidiary of Resources Connection, Inc. , will announce results of operations for its third quarter ended February 27, 2010, after the close of market on Thursday, April 1, 2010.

This release will be followed by a conference call at 5:00 p.m. ET, April 1, 2010. The dial-in number for the conference call will be: 877-390-5534. No password is required; simply ask for the Resources Global Professionals conference call.

The conference call will be broadcast in simultaneous listen-only mode on the Resources Global Professionals website at http://ir.resourcesglobal.com/events.cfm. A digital replay of the conference call will also be available through April 3, 2010 at: 800-642-1687. The password for the replay is: 60671391. The call will also be archived on the Resources Global Professionals website for 30 days.

Analyst Contact: Media Contact: Nate Franke, chief financial Michael Sitrick, CEO Sitrick Brincko officer Group (US+) 1-714-430-6500 (US+) 1-310-788-2850 nate.franke@resources-us.com mike_sitrick@sitrick.com ABOUT RESOURCES GLOBAL PROFESSIONALS

Resources Global Professionals, the operating subsidiary of Resources Connection, Inc. , is a multinational professional services firm that helps business leaders execute internal initiatives. Partnering with business leaders, we drive internal change across all parts of a global enterprise - finance and accounting, information management, internal audit, corporate advisory and strategic communications, human capital, legal and regulatory services and supply chain management.

Resources Global was founded in 1996 within a Big Four accounting firm. Today, we are a publicly traded company with over 2,700 professionals, from more than 80 practice offices, annually serving over 2,100 clients around the world.

Headquartered in Irvine, California, Resources Global has served 84 of Fortune 100 companies.

The Company is listed on the NASDAQ Global Select Market, the exchange's highest tier by listing standards. More information about Resources Global is available at http://www.resourcesglobal.com/.

Resources Global Professionals

CONTACT: Analysts, Nate Franke, chief financial officer of Resources
Global Professionals, +1-714-430-6500, nate.franke@resources-us.com, or Media,
Michael Sitrick, CEO of Sitrick Brincko Group, +1-310-788-2850,
mike_sitrick@sitrick.com, for Resources Global Professionals

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

TRX Reports 2009 Results, Near-Record Margins

ATLANTA, March 9 /PRNewswire-FirstCall/ -- TRX, Inc. (http://www.trx.com/) , the world's leading provider of travel technology, process automation and consulting services, today reported financial results for the quarter and year ended 31 December 2009.

Net loss for the fourth quarter was ($0.8) million compared with net loss of ($3.9) million in the fourth quarter of 2008. Total revenues excluding client reimbursements for the fourth quarter of 2009 were $13.8 million compared with $16.4 million in the fourth quarter of 2008. Revenues from transaction processing services for the fourth quarter of 2009 decreased to $10.8 million from $13.3 million in the fourth quarter of 2008. Revenues from data reporting services were $3.0 million, compared with $3.2 million in the prior year.

Adjusted revenues for the fourth quarter of 2009 were $13.8 million compared with $16.4 million in the fourth quarter of 2008. Adjusted EBITDA was $1.0 million for the quarter, compared with ($0.5) million in the fourth quarter of 2008.

For the year ended December 31, 2009, total revenues excluding client reimbursements were $58.9 million compared with $95.4 million in the prior year. Net loss for the year, primarily driven by $43.9 million of goodwill and other non-cash impairment charges, was ($44.0) million, or ($2.39) per diluted share, compared with net income of $3.7 million, or $0.20 per diluted share in 2008. Adjusted revenues for the year were $58.9 million compared with $88.9 million in 2008. Adjusted EBITDA for the year was $6.9 million compared with $9.4 million in 2008.

"Our performance in 2009 demonstrated improving revenue fundamentals as the year progressed, combined with continued discipline on the cost structure," said TRX President & CEO Shane Hammond. "Our adjusted EBITDA margin of 11.7% is the second-best in our 10-year history, a testament to our people, our clients, and our offerings."

TRX provided initial financial guidance for calendar year 2010, consisting of revenues of approximately $55 million, adjusted EBITDA of approximately $5 million, and capital expenditures of approximately $3 million.

"We have challenges ahead as we continue on the path to reduce our reliance on a few large clients," added Hammond. "We remain operationally focused on improving the effectiveness of our selling and implementation efforts, and strategically focused on leveraging our best-in-class offerings as the provider of choice for the travel industry."

Use of Non-GAAP Financial Measures

TRX provides financial measures and terms not calculated in accordance with accounting principles generally accepted in the United States (GAAP). Presentation of non-GAAP measures such as Adjusted Revenues, Adjusted Data Reporting Revenues, EBITDA and Adjusted EBITDA provide investors with an alternative method for assessing our operating results in a manner that enables investors to more thoroughly evaluate our performance. These non-GAAP measures provide a baseline for assessing the company's future earnings expectations. TRX management uses these non-GAAP measures for the same purpose. The non-GAAP measures included in this release are provided to give investors access to the types of measures that we use in analyzing our results.

Adjusted Revenues and Adjusted Data Reporting Revenues consist of GAAP transaction and other revenues, adjusted for the revenue earned from Citibank for providing routine services, which was required under US GAAP to be deferred until the sale of a software license to Citibank was complete, which occurred on April 30, 2008. The deferral of revenue recognition was required in the absence of vendor-specific objective evidence of the fair value of the license. Management uses Adjusted Revenue and Adjusted Data Reporting Revenue as additional measures for evaluating the performance of the business, because the pricing for and level of routine services currently being provided to Citibank are equivalent to those provided to Citibank before the arrangement to sell a license was consummated in July 2007.

EBITDA consists of GAAP net (loss) income adjusted for the items included in the accompanying reconciliation. EBITDA provides useful information to investors about the Company's performance because it eliminates the effects of period to period changes in the cost associated with capital investments and interest expense. Adjusted EBITDA consists of EBITDA adjusted for the items included in the accompanying reconciliation. EBITDA and Adjusted EBITDA do not give effect to the cash the Company must use to service its debt or pay its income taxes and thus do not reflect the funds generated from operations or actually available for capital expenditures.

TRX's calculation of Adjusted Revenues, Adjusted Data Reporting Revenues, EBITDA and Adjusted EBITDA is not necessarily comparable to similarly titled measures reported by other companies. These non-GAAP measures may be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. Schedules that reconcile Adjusted Revenues, EBITDA and Adjusted EBITDA to GAAP net (loss) income and Adjusted Data Reporting Revenues to GAAP Data Reporting Revenues are included with this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), or in releases made by the Securities and Exchange Commission, all as may be amended from time to time. Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of the PSLRA. Any such forward-looking statements reflect our beliefs and assumptions and are based on information currently available to us and are subject to risks and uncertainties that could cause actual results to differ materially, including but not limited to, the loss of key clients, volatility in the number of transactions we service, failure or interruptions of our software, hardware and other systems, industry declines, competitive pressures and other risks, including those discussed under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2009.

Forward-looking statements are predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws. TRX, Inc. cautions investors that any forward-looking statements we make are not guarantees or indicative of future performance.

Pre-recorded Call Information

After the earnings release has been furnished to the SEC, a pre-recorded call offering additional comments on the quarter will be available to all investors at http://www.trx.com/ under the Investors section of the website, both as a webcast and in the form of transcript. An archived webcast and transcript will remain available on the company's Website for approximately 90 days.

About TRX

TRX is a world-leading travel technology and data services provider, offering more than 20 software-as-a-service utilities for online booking, reservation processing, data intelligence, and process automation. We deliver our technology applications in an on-demand environment to travel agencies, corporations, travel suppliers, government agencies, credit card associations, credit card issuing banks, and third-party administrators. We provide patented savings maximization solutions via our travel analytics consulting practice, extending spend management services to travel buyers all over the world. We complement all of these offerings with a global workforce focused on travel process automation and reengineering. For more information about TRX or to contact a TRX sales office, phone 404.929.6100 or visit the company's Web site at http://www.trx.com/.

TRX, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) Three Months Twelve Months Ended December 31, Ended December 31, ------------------ ------------------ 2009 2008 2009 2008 ---- ---- ---- ---- REVENUES: Transaction processing $10,846 $13,267 $47,212 $63,517 Data reporting 2,951 3,179 11,661 31,908 ----- ----- ------ ------ Transaction and other revenues 13,797 16,446 58,873 95,425 Client reimbursements 120 177 470 798 --- --- --- --- Total revenues 13,917 16,623 59,343 96,223 ------ ------ ------ ------ EXPENSES: Operating 9,043 10,234 36,406 49,761 Selling, general and Administrative 2,357 4,374 10,979 17,185 Technology development 950 2,269 4,343 12,875 Client reimbursements 120 177 470 798 Impairment of goodwill, intangible assets and other long-lived assets 247 - 43,939 - Depreciation and amortization 1,342 2,612 6,454 10,659 ----- ----- ----- ------ Total expenses 14,059 19,666 102,591 91,278 ------ ------ ------- ------ OPERATING INCOME (LOSS) (142) (3,043) (43,248) 4,945 INTEREST (EXPENSE) INCOME: Interest income - 4 15 101 Interest expense (194) (222) (789) (570) ---- ---- ---- ---- Total interest expense, net (194) (218) (774) (469) ---- ---- ---- ---- (LOSS) INCOME BEFORE INCOME TAXES (336) (3,261) (44,022) 4,476 INCOME TAX PROVISION (BENEFIT) 510 688 (23) 774 --- --- --- --- NET (LOSS) INCOME $(846) $(3,949) $(43,999) $3,702 ===== ======= ======== ====== Net (Loss) Income per Share Basic and diluted $(0.05) $(0.21) $(2.39) $0.20 Weighted Average Shares Outstanding Basic 18,454 18,376 18,432 18,350 Diluted 18,454 18,376 18,432 18,401 Other Data: Adjusted revenues $13,797 $16,446 $58,873 $88,920 Adjusted EBITDA 973 (522) 6,889 9,362 Adjusted data reporting revenues 2,951 3,179 11,661 25,403 Capital expenditures 466 1,663 2,738 7,094 As of December 31, 2009 2008 ---- ---- Consolidated Balance Sheet Data: Cash and cash equivalents $2,897 $6,873 Total shareholders' (deficit) equity (3,008) 41,217 TRX, INC. AND SUBSIDIARIES UNAUDITED RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES (In thousands) Reconciliation of Transaction and Other Revenues to Adjusted Revenues and Net (Loss) Income to EBITDA and Adjusted EBITDA Three Months Twelve Months Ended December 31, Ended December 31, ----------------- ----------------- 2009 2008 2009 2008 ---- ---- ---- ---- Transaction and other revenues $13,797 $16,446 $58,873 $95,425 Deferred data reporting revenues (1) - - - (6,505) --- --- --- ------ Adjusted revenues 13,797 16,446 58,873 88,920 Net (loss) income (846) (3,949) (43,999) 3,702 Depreciation and amortization 1,342 2,612 6,454 10,659 Interest expense, net 194 218 774 469 Income tax provision (benefit) 510 688 (23) 774 --- --- --- --- EBITDA 1,200 (431) (36,794) 15,604 Impairment of goodwill, intangible assets and other long-lived assets 247 - 43,939 - Stock compensation expense (474) (91) (256) 263 Deferred data reporting revenues (1) - - - (6,505) --- --- --- ------ Adjusted EBITDA $973 $(522) $6,889 $9,362 ==== ===== ====== ====== Reconciliation of Data Reporting Revenues to Adjusted Data Reporting Revenues Three Months Twelve Months Ended December 31, Ended December 31, ----------------- ----------------- 2009 2008 2009 2008 ---- ---- ---- ---- Data reporting revenues $2,951 $3,179 $11,661 $31,908 Deferred data reporting revenues (1) - - - (6,505) --- --- --- ------ Adjusted data reporting revenues $2,951 $3,179 $11,661 $25,403 ====== ====== ======= ======= (1) Data reporting services provided to Citibank which were required to be deferred under US GAAP until the Company's sale of a non-exclusive DATATRAX license, which occurred on April 30, 2008.

TRX, Inc.

CONTACT: Investors: David Cathcart, Chief Financial Officer,
+1-404-929-6154; Media: Stephen Carroll, Senior Director, Product Marketing,
TRX, Inc., +1-214-346-4758

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

Origen Financial Announces Preliminary Unaudited Fourth Quarter and Full Year 2009 Results

SOUTHFIELD, Mich., March 9 /PRNewswire-FirstCall/ -- Origen Financial, Inc. (Pink Sheets: ORGN), a real estate investment trust that manages residual interests in securitized manufactured housing loan portfolios, today announced a preliminary unaudited net loss of $2.3 million, or $0.09 per share, for the fourth quarter of 2009, and $8.6 million, or $0.33 for the full year 2009.

Sun Communities, Inc. ("Sun"), an owner of approximately 19 percent of Origen's outstanding common stock, is required to report certain financial results and information of Origen as part of its accelerated SEC reporting obligation. Origen has provided Sun with the preliminary information reflected in this release to assist Sun in meeting its filing obligation. Origen is issuing this press release of preliminary information to assure broad availability to all shareholders and the trading markets of the same preliminary information it has provided to Sun.

Ronald A. Klein, chief executive officer, stated, "Notwithstanding the ongoing issues with the housing market and the national unemployment rate, our cash flow continues to be strong, significantly exceeding our monthly cash expenses, which has allowed us to repay an additional $6.3 million of our related party debt since the end of the third quarter 2009."

Origen will release final earnings results for the fourth quarter and full year 2009 on Thursday, March 18, 2010. Management will host a conference call and webcast on Friday, March 19, 2010, at 11:00 a.m. Eastern Time. The call may be accessed by dialing 888-490-2763.

A replay will be available through March 26, 2010, by dialing 888-203-1112, passcode 1840382.

Forward-Looking Statements

This press release contains various "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and Origen intends that such forward-looking statements will be subject to the safe harbors created thereby. The words "will," "may," "could," "expect," "anticipate," "believes," "intends," "should," "plans," "estimates," "approximate" and similar expressions identify these forward-looking statements. These forward-looking statements reflect Origen's current views with respect to future events and financial performance, but involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These risks and uncertainties may cause Origen's actual results to be materially different from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the foregoing assumptions and those risks referenced under the headings entitled "Factors That May Affect Future Results" or "Risk Factors" contained in Origen's filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date hereof and Origen expressly disclaims any obligation to provide public updates, revisions or amendments to any forward- looking statements made herein to reflect changes in Origen's expectations or future events.

About Origen Financial, Inc.

Origen is an internally managed and internally advised company that has elected to be taxed as a real estate investment trust. Origen is based in Southfield, Michigan.

For more information about Origen, please visit http://www.origenfinancial.com/ or http://www.pinksheets.com/.

Origen Financial, Inc.

CONTACT: W. Anderson Geater, Chief Financial Officer of Origen
Financial, +1-248-746-7010, ageater@ofllc.com; or Leslie Loyet of Financial
Relations Board, +1-312-640-6672, lloyet@mww.com, for Origen Financial

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

Red Lion Hotels Appoints Richard Carlson Head of Lodging DevelopmentNew Position Supports Franchise Growth Objectives

SPOKANE, Wash., March 9 /PRNewswire-FirstCall/ -- Red Lion Hotels Corporation announced the appointment of Richard P. Carlson as Vice President - Lodging Development. The newly created position is central to the company's plan for franchise growth in 2010 and beyond. Carlson will lead Red Lion's lodging development and franchise business in addition to overseeing existing franchisee relations.

Carlson brings a broad 20-year record of franchise, development, and capital investment experience, with an emphasis on the Western states where Red Lion is concentrating its franchising efforts. Most recently, he was Vice President at Summit Capital, where he worked with hotel owners, investors, banks and brands seeking financing, brokerage support and disposition expertise. Before that, Carlson was Vice President, Lodging Development for Marriott International, where he successfully helped develop their select service and extended stay brands. In that position he worked with hotel owners, brokers, consultants, architects and other professionals to increase Marriott's brand distribution in the Western Region.

"Rich's deep knowledge of the lodging industry will be of great value to Red Lion as we build our franchise infrastructure to expand the Red Lion network," said Jon Eliassen, Red Lion's President and Chief Executive Officer.

Carlson commented, "I am excited to join Red Lion as the company embarks on a new franchise-based growth strategy. With an opportunity to support high quality limited, select, and full service properties within the Red Lion brand, I am confident that we will draw a broader, more diverse group of hotel owners to the system."

Carlson joins Red Lion on March 15, 2010, and will report to George Schweitzer, Executive Vice President and Chief Operating Officer, Hotel Operations.

About Red Lion Hotels Corporation:

Red Lion Hotels Corporation is a hospitality and leisure company primarily engaged in the ownership, operation and franchising of upscale and midscale hotels under its Red Lion® brand. As of December 31, 2009, the RLH hotel network was comprised of 45 hotels located in eight states and one Canadian province, with 8,671 rooms and 431,244 square feet of meeting space. The company also owns and operates an entertainment and event ticket distribution business. For more information, please visit the company's website at http://www.redlion.com/.

Contact: Red Lion Hotels Corporation Julie Langenheim, Investor Relations Manager (509) 777-6322 Investor Relation: Financial Relations Board Stacy Feit (213) 486-6549

Red Lion Hotels Corp/Financial Relations Board

CONTACT: Julie Langenheim, Investor Relations Manager of Red Lion Hotels
Corporation, +1-509-777-6322; or Investor Relations, Stacy Feit of Financial
Relations Board, +1-213-486-6549, for Red Lion Hotels Corporation

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

Equifax Study Shows the Ups and Downs of Commercial Credit TrendsBusiness Failures on the Rise, Small Business Bankruptcies on the Decline

ATLANTA, March 9 /PRNewswire-FirstCall/ -- Today's Economy: Understanding the Commercial Impact

When it comes to commercial credit trends, the story has two plots. According to an Equifax study on Q4 2009 data, there were both improvements and setbacks on the commercial bankruptcy, business failure and delinquency fronts. While Equifax analysis showed an average 15% decline in commercial bankruptcies for the second half of 2009, there was a 14% increase in the number of bankruptcies reported during Q4 2009 compared to the same period in 2008. Will this mixed trend continue or is it an anomaly? Further complicating the story are factors such as rising delinquencies and business failures, which continue to impact the commercial markets especially in the Pacific and Mountain regions.

Despite rising business failures and account delinquencies, the commercial landscape has revealed some surprises such as a double digit decline in small business bankruptcies during the second half of 2009," said Dr. Reza Barazesh, senior vice president, Commercial Information Solutions, Equifax. "While these trends send mixed economic signals, it is clear that small businesses remain in a fragile state trying to navigate strong market pressures. How long this trend will continue is the question.

To analyze the market's effect on today's businesses, Equifax examined key credit trends within the portfolios of top national and regional financial institutions, which extend about 75% of all commercial credit. While there were some mixed signals, it is unknown if these trends will sustain themselves in 2010. Equifax will continue to closely monitor commercial economic conditions to assess where the market is trending and report regularly on its findings. Stay tuned.

To view this report as a pdf file, visit: http://www.equifax.com/PR/pdfs/CommercialFactSheetFN3810.pdf

Regional Bankruptcy Trends: Pacific and Mountain Lead the Way

When it comes to analyzing commercial bankruptcy by region, research findings show mixed results. According to Equifax data, there was a smaller bankruptcy rate change for multiple geographical regions from Q3 2009 to Q4 2009 than in previous quarters. However, bankruptcy rate changes across multiple regions remained high from Q4 2006 to Q4 2009. In fact, 5 out of 9 regions saw a rate change of more than 50 basis points during this time period. Leading the way were the Pacific and Mountain regions, which continue to experience powerful headwinds. Both areas experienced a rate change of 72 and 61 basis points respectively from Q4 2006 to Q4 2009.

Q4 2006 - Percentage of Q4 2006 Q3 2009 Q4 2009 Q4 2009 U.S. Commercial Bankruptcy Bankruptcy Bankruptcy Rate Region Businesses Rate Rate Rate Change ------ --------------- ---------- ---------- ---------- --------- *Reflects Basis Points Pacific 19.34% 0.98% 1.60% 1.70% 72 ------- ----- ---- ---- ---- --- West South Central 10.08% 1.12% 1.57% 1.62% 50 ---------- ----- ---- ---- ---- --- Mountain 8.10% 0.97% 1.49% 1.57% 61 -------- ---- ---- ---- ---- --- East South Central 4.67% 0.92% 1.40% 1.46% 54 ---------- ---- ---- ---- ---- --- East North Central 12.89% 0.88% 1.35% 1.41% 53 ---------- ----- ---- ---- ---- --- West North Central 5.93% 0.74% 1.17% 1.22% 47 ---------- ---- ---- ---- ---- --- New England 5.27% 0.67% 1.01% 1.06% 39 -------- ---- ---- ---- ---- --- Middle Atlantic 13.48% 0.67% 0.97% 1.01% 34 --------- ----- ---- ---- ---- --- South Atlantic 20.25% 0.59% 0.92% 0.96% 37 --------- ----- ---- ---- ---- --- Total US 100% 0.81% 1.20% 1.27% 46 ======== ===== ==== ==== ==== === Transportation in First, Construction Has Highest Jump Over Time

Small business bankruptcies continue to climb in the transportation sector, surpassing all other industries. According to Equifax data, the bankruptcy rate for the transportation industry reached 2.64% in Q4 2009 - a powerful increase in the rate change from Q4 2006. Strongly impacted by these trends as well was the construction industry, which experienced the largest rate change from Q4 2006 to Q4 2009. Manufacturing, retail and mining also showed strong increases during the same time period.

Q4 2006 Q3 2009 Q4 2009 Q4 2006 - Bankruptcy Bankruptcy Bankruptcy Q4 2009 Rate Industry Rate Rate Rate Change -------- ---------- ---------- ---------- ------------ *Reflects Basis Points Transportation 1.67% 2.53% 2.64% 97 -------------- ---- ---- ---- --- Construction 1.39% 2.30% 2.43% 104 -------------- ---- ---- ---- --- Manufacturing 1.48% 2.20% 2.30% 82 ------------- ---- ---- ---- --- Retail 1.30% 2.16% 2.27% 96 ------ ---- ---- ---- --- Mining 1.17% 1.86% 1.97% 79 ------ ---- ---- ---- --- Wholesale 1.20% 1.85% 1.94% 73 --------- ---- ---- ---- --- Agriculture 0.89% 1.42% 1.50% 61 ----------- ---- ---- ---- --- Services 0.86% 1.29% 1.35% 49 -------- ---- ---- ---- --- Finance 0.56% 1.07% 1.14% 58 ------- ---- ---- ---- --- Public Administration 0.13% 0.21% 0.21% 8 --------------- ---- ---- ---- --- Total U.S. 0.81% 1.20% 1.27% 46 ========== ==== ==== ==== === Sign of the Times: Business Failures Rise

Equifax research on business failure uncovered some interesting findings in light of continued delinquencies and bankruptcy trends. According to Equifax, the percent of businesses with the highest risk of failure increased from 0.31% in Q4 2006 to 0.85% in Q4 2009. For the analysis, Equifax leveraged its Business Failure Risk Score, which projects the likelihood of business failure in the next 12 months.

Figure 1 -- Percent of Businesses with Highest Risk of Failure http://www.equifax.com/PR/images/FailureRiskScore3810.jpg (Note: Analysis conducted using Equifax's Business Failure Risk Score.) Delinquencies Trending Up for All Account Types

The chart below shows the average quarterly delinquency year over year for lines of credit, term loans and commercial credit cards from Q4 2006 to Q4 2009. According to Equifax data, average past due dollars for lines of credit reached $37,160 in Q4 2009, a 273.4% increase over Q4 2006. Delinquencies for term loans saw the second highest rise, with a 139.8% increase in average dollar delinquency during the same period. Also not immune to this trend were credit cards, with the average account delinquency totaling $3,255 in Q4 2009 - a 43.3% jump from Q4 2006.

Figure 2 -- Delinquency Dollars http://www.equifax.com/PR/images/AverageDelinquencyDollars_3810.jpg

Equifax Commercial Information Solutions provides the information and expertise necessary for companies to best understand and manage their dealings with business customers, prospects and suppliers. Our exclusive partnership with the Small Business Financial Exchange, along with other proprietary sources, provides the best-in-class commercial credit risk data. Combined with highly predictive scoring and innovative technology, businesses can leverage this information to make quick, confident credit decisions and minimize potential losses.

For more information about Equifax Commercial Information Solutions, visit http://www.equifax.com/commercial

Equifax is a registered trademark of Equifax Inc. Inform, Enrich, Empower is a trademark of Equifax Inc. The Equifax Business Failure Risk Score is a trademark of Equifax Inc. Copyright © 2009, Equifax Inc., Atlanta, Georgia. All rights reserved. Printed in the U.S.A. Data Primer - 3/2010

Photo: http://www.newscom.com/cgi-bin/prnh/20060224/CLF037LOGO Equifax

CONTACT: Jennifer Costello, +1-404-885-8907,
jennifer.costello@equifax.com, or Tim Klein, +1-404-885-8555

Web Site: http://www.equifax.com/commercial

Golden State Warriors and Verizon Wireless Team up to Call a Timeout on Domestic ViolenceFans can get involved by recycling old wireless phones at the March 11 home game

WALNUT CREEK, Calif., March 9 /PRNewswire/ -- The Golden State Warriors and Verizon Wireless invite fans to go 'green' and help curb domestic violence in the community.

Fans attending the Warriors home game against the Portland Trail Blazers on Thursday, March 11 can donate their used wireless phones and accessories to the Verizon Wireless HopeLine® phone recycling program. Drop boxes will be located near the box office and on the concourse.

"We're excited to partner with Verizon Wireless to highlight the HopeLine program for the fourth year in a row," said Robert Rowell, Golden State Warriors president. "By getting the fans involved, we can have a bigger impact in the community."

This is the fourth season the Golden State Warriors and Verizon Wireless have teamed up for a special HopeLine phone collection.

"We encourage Warriors fans to donate their old cell phones, batteries and accessories to HopeLine," said Kevin Zavaglia, Verizon Wireless region president. "This is a simple way to help someone in need, while keeping old wireless equipment out of the waste stream."

Verizon Wireless and the Golden State Warriors also partnered with the Family Violence Prevention Fund to host a Coaching Boys into Men(SM) seminar. Coaching Boys into Men is a Coaches Leadership Program that partners with athletic coaches to help young male athletes practice respect towards themselves and others. In January, more than 100 Bay Area high school basketball coaches attended the event and learned how to use their platform to help young athletes build healthy relationships and serve as role models of respect and integrity in their schools and communities.

"We all have to be role models--it's true that it takes a town to raise a child," said 5th grade basketball coach, Mat Steinberg, from the St. Michael/St. George Catholic Youth Organization League in Livermore. "The Coaching Boys into Men program provided some great tools that can help all coaches have a positive impact on the young people in our lives."

About HopeLine

Verizon Wireless' HopeLine program collects no-longer used wireless phones, batteries and accessories from any wireless service provider at its Communications Stores nationwide and puts the nation's most reliable wireless network to work in local communities by turning these unused wireless phones into support for victims of domestic violence.

Equipment can be donated to the HopeLine program year-round at any Verizon Wireless Communications Store across the country or through the mail by downloading a postage-paid label at http://www.verizonwireless.com/hopelinemailinglabel. For more information, please visit http://www.verizonwireless.com/hopeline.

About Verizon Wireless

Verizon Wireless operates the nation's most reliable and largest wireless voice and 3G data network, serving more than 91 million customers. Headquartered in Basking Ridge, N.J., with 83,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (Nasdaq and LSE: VOD). For more information, visit http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

Verizon Wireless

CONTACT: Heidi Flato of Verizon Wireless, +1-925-279-6545,
Heidi.Flato@VerizonWireless.com

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

CFOs, Treasurers to Discuss 'New Normal' Financial EnvironmentAnnouncing AFP's Sixth Annual Global Corporate Treasurers Forum

WASHINGTON, March 9 /PRNewswire/ -- Chief financial officers and treasurers will convene in Washington in May to discuss how to operate in the "new normal" financial environment.

The Association for Financial Professional's Global Corporate Treasurers Forum, now in its sixth year, will take place at the Four Seasons Hotel Washington, DC, May 16-18, with Bank of America Merrill Lynch as the exclusive sponsor. The beautiful Georgetown venue is in close proximity to the regulators who typically participate in this event.

"AFP members have played a critical role in maintaining the financial stability of their organizations through the recession," said Jim Kaitz, president and CEO of AFP. "Now they are moving forward based on new economic realities."

A panel including CFOs from McCormick and the Ratner Companies will explain their approaches to managing up and down within their organizations, addressing issues raised by the CEO and the board of directors. A senior editor of the Harvard Business Review will moderate.

By looking at what is driving a company, finance chiefs can formulate expectations for their treasurers and the treasury department they manage. Another panel including treasurers from Yahoo! Inc. and Global Container Terminals will discuss how treasury is re-educating itself to operate efficiently by utilizing resources effectively and increasing productivity. This discussion will help other treasurers understand how to improve operations, bank relationship management, investments, foreign exchange and investor relations.

"Bank of America Merrill Lynch is proud to sponsor this gathering of financial executives, which comes during a pivotal period for the treasury management industry," said Dub Newman, Global Treasury Executive at Bank of America Merrill Lynch. "These discussions should prove invaluable to providing treasurers and executives with a deeper understanding of key issues and meaningful solutions to help businesses optimize their working capital."

Other topics will include financial regulatory reform, implications of derivative accounting, counterparty risk, and the pace of change in capital markets. To underscore the importance of these issues, a parallel Global Corporate Treasurers Forum Europe will take place in London the following month.

For more information on the Global Corporate Treasurers Forum, see http://www.afponline.org/gctf

ABOUT AFP® (http://www.afponline.org/)

The Association for Financial Professionals (AFP) serves a network of more than 16,000 treasury and finance professionals. Headquartered outside Washington, DC, AFP provides members with news, economic research and data on the evolving world of treasury and finance, as well as treasury certification programs, networking events, financial analytical tools, training, and public policy representation to legislators and regulators. AFP is the daily resource for treasury and finance professionals.

AFP's global reach extends to over 150,000 treasury and financial professionals worldwide, including AFP of Canada; London-based gtnews, an on-line resource for the treasury and finance community; and bobsguide, a financial IT solutions network.

ABOUT BANK OF AMERICA MERRILL LYNCH

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 59 million consumer and small business relationships with 6,000 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed

http://www.bankofamerica.com/

Association for Financial Professionals

CONTACT: David Johnson of the Association for Financial Professionals,
+1-301-961-8893

Web Site: http://www.afponline.org/
http://www.bankofamerica.com/