DENVER, April 22 /PRNewswire-FirstCall/ -- Kodiak Oil & Gas Corp. (NYSE Amex: KOG), an oil and gas exploration and production company with assets in the Williston Basin of North Dakota and Montana and in the Green River Basin of southwest Wyoming and Colorado, expects to release its first quarter 2010 financial and operating results after the close of trading on Thursday, May 6, 2010. In conjunction with Kodiak's release of its results, investors, analysts and other interested parties are invited to participate in a conference call with management on Friday, May 7, 2010 at 11:00 a.m. Eastern Daylight Time.
Kodiak Oil & Gas Corp. Q110 Financial and Operating Results Conference Call ---------------------------------------------------------------------- Date: Friday, May 7, 2010 ----- ------------------- Time: 11:00 a.m. EDT ----- -------------- 10:00 a.m. CDT -------------- 9:00 a.m. MDT ------------- 8:00 a.m. PDT ------------- (877) 257-3168 (US/Canada) and (706) 643-3820 Call: (International); Passcode: 70622792 ----- ---------------------------------------------- Live and rebroadcast over the Internet: http:/// Internet: http://www.videonewswire.com/event.asp?id=68479 --------- ------------------------------------------------ Available through Friday, May 14, 2010 at (800) 642-1687 (US/ Replay: Canada) ------- -------------------------------------------------------------- and (706) 645-9291 (International) using passcode: 70622792 and for 30 days at http://www.kodiakog.com/ ------------------------------------------------------------ About Kodiak Oil & Gas Corp.
Denver-based Kodiak Oil & Gas Corp. is an independent energy exploration and development company focused on exploring, developing and producing oil and natural gas in the Williston and Green River Basins in the U.S. Rocky Mountains. For further information, please visit http://www.kodiakog.com/. The Company's common shares are listed for trading on the NYSE Amex exchange under the symbol: "KOG."Audio: http://www.videonewswire.com/event.asp?id=68479 Kodiak Oil & Gas Corp.
CONTACT: Mr. Lynn A. Peterson, CEO and President, Kodiak Oil & Gas
Corp., +1-303-592-8075; or Mr. David P. Charles, Sierra Partners LLC,
+1-303-757-2510, ext. 11, for Kodiak Oil & Gas Corp.
Web Site: http://www.kodiakog.com/
INDIANAPOLIS, April 22 /PRNewswire-FirstCall/ -- Today, WellPoint, Inc. issued the following points of clarification in response to the Reuters article published this morning.
-- Today's Reuters story alleging that WellPoint employs a targeted rescission policy for members with breast cancer is inaccurate and grossly misleading. The story incorrectly reports that WellPoint singles out women with breast cancer for aggressive investigation with the intent of canceling their insurance. This is simply wrong. In fact, WellPoint works to prevent breast cancer, to detect it early, and to get our members into treatment. We also work to ensure that all of our members are getting best practice care for breast cancer. -- The story also misstates the role of what it terms computer algorithms. Contrary to how its use was portrayed in the story, such software is used to look at a series of diagnostic codes meant to capture conditions that applicants would likely have known about at the time they applied for coverage. We do not single out breast cancer or pregnancy. -- The story focuses heavily on the practice of rescissions. As part of our normal business practices, WellPoint monitors claims for a variety of things, from indications of potential fraud to potential opportunities to improve quality and better coordinate care. If something appears that it may be associated with a material misrepresentation, we may initiate an investigation. -- In fact, last year less than one-tenth of 1 percent of our individual members' policies were rescinded. -- The story is also wrong in reporting that WellPoint lobbied aggressively to quash proposed provisions that would have required a third party review of company decisions to rescind a customer's policy. WellPoint did not lobby against that issue. In fact, WellPoint was the first company in the industry to institute third party reviews back in 2008, a move that was cited at the time as a model for the industry. -- In response to public concern over the practice of rescissions, WellPoint in 2006 undertook a thorough review of our policies and procedures. Following that review, WellPoint was the first insurer to announce the establishment of a variety of changes to our rescission practices in an effort to ensure that rescissions are handled as accurately and appropriately as possible. These changes include: 1) creating a new Application Review Committee which includes a physician that makes rescission decisions, 2) establishing a single point of contact for members undergoing a rescission investigation, and 3) establishing an appeal process for applicants who disagree with our original determination, which includes a review by an Application Review Committee not involved in the initial decision. -- Another significant error in the Reuters story is that WellPoint rescinded coverage to Robin Beaton. As noted during her public testimony during the US House Energy and Commerce Committee hearing, Ms. Beaton is NOT a WellPoint member, but rather was insured by another company. -- The quote in the Reuters article from the 2007 DMHC investigation stating that "there was no evidence that (Blue Cross), before rescinding coverage, investigated or established that the applicant's omission or representation was willful" was an erroneous statement of the legal standard. Even under that standard, in its investigation the DMHC found that more than 90% of Blue Cross' rescissions met that heightened standard. -- Yet another inaccuracy is the false implication at the beginning of the article that Ms. Reilling's coverage was dropped due to breast cancer. If Ms. Reilling would be willing to sign a HIPPA waiver, we would be happy to disclose the facts in her case. Also a small point, but indicative of the inaccurate reporting in this story, Reuters misspells Ms. Reilling's name repeatedly throughout. -- Further, as was shared with Reuters previously, WellPoint is committed to member education and advocates for early detection of breast cancer. In fact, WellPoint employs an internal Health Equities team, devoted entirely to addressing health disparities. Our HealthCore subsidiary has done extensive research into disparities that exist today in the diagnosis and treatment of breast cancer. We are using these findings to pilot programs in our Blue states to identify better communications methods for members and clinicians, to diminish disparities. -- Also, WellPoint's preventive health guidelines include recommendations that women over the age of 40 receive a clinical breast exam by their health care provider and a mammogram every year. The majority of our health plans include this as a preventive care benefit, even after the US Task Force recently changed mammography screening guidelines to begin at age 50. -- Additionally, in an effort to motivate women to get recommended preventive health screenings (breast, cervical, colorectal cancer), and encourage women to talk with their doctors about preventive screenings and good health, WellPoint conducts automated calls to women that include messaging about mammography. Specifically, for breast screenings, the calls are targeted toward women ages 40-69 non-compliant with recommended breast cancer screening (mammogram). -- We are deeply disappointed that these various allegations would be made without regard for the facts. We are proud of our record in improving care for women with breast cancer in this country.WellPoint, Inc.
CONTACT: Jon Mills of WellPoint, Inc., +1-317-370-4029,
firstname.lastname@example.org; Kristin Binns, +1-917-697-7802,
Web Site: http://www.wellpoint.com/
COLUMBUS, Ohio, April 22 /PRNewswire-FirstCall/ -- Mettler-Toledo International Inc. today announced it will host a conference call to discuss the Company's first-quarter results on Thursday, April 29, 2010 at 5:00 p.m. Eastern Time. To hear a live webcast of the call, visit http://www.mt.com/investors on the Company's website. A replay of the webcast will be available until May 3, 2010.
METTLER TOLEDO is a leading global supplier of precision instruments and services. The Company is the world's largest manufacturer and marketer of weighing instruments for use in laboratory, industrial and food retailing applications. The Company also holds top-three market positions in several related analytical instruments and is a leading provider of automated chemistry systems used in drug and chemical compound discovery and development. In addition, the Company is the world's largest manufacturer and marketer of metal detection and other end-of-line inspection systems used in production and packaging and holds a leading position in certain process analytics applications. Additional information about METTLER TOLEDO can be found on the World Wide Web at http://www.mt.com/.
Contact: Mary T. Finnegan, Treasurer / Investor Relations Phone: ++1 614 438 4748 Fax: ++1 614 438 4646Mettler-Toledo International Inc.
CONTACT: Mary T. Finnegan, Treasurer / Investor Relations,
+1-614-438-4748, Fax: +1-614-438-4646
Web Site: http://www.mt.com/
CHICAGO, April 22 /PRNewswire-FirstCall/ -- At a time when the demand for affordable housing is greater than ever, Harris has utilized innovative financial solutions to assist borrowers like Alden to spur the development of affordable housing. More than a year after breaking ground, Alden Gardens of Bloomingdale -- an affordable, supportive living community for seniors -- will host Harris, the Illinois Housing Development Authority (IHDA), National Equity Fund, other project participants and local elected officials for an official ribbon-cutting ceremony today.
Alden Gardens of Bloomingdale offers housing and services for individuals 65 and older who are in need of an affordable, assisted lifestyle through Illinois' Supportive Living Program administered by the Department of Healthcare and Family Services. To help Alden fill a possible financing gap created by state budget shortfalls, Harris worked with the IHDA to provide a line of credit secured by Medicaid receivables. According to the IHDA and the Affordable Assisted Living Coalition, this is the first time this structure has been used in conjunction with Illinois' Supportive Living Program.
"In our current economy, we know we need to be flexible and willing to help structure one-of-a-kind financial arrangements," said Katherine Mazzocco, vice president of Community Development, Harris. Harris also provided more traditional financing arrangements, such as credit enhancement for $10.7 million in tax exempt bonds, bond underwriting and remarketing, an interest rate swap, and bond investment.
Other key participants included the IHDA, the National Equity Fund, DuPage County's Community Development Commission, Federal Home Loan Bank of Chicago, and Enterprise Community Partners, Inc. "IHDA is proud to have invested more than $13.2 million in tax exempt bonds, interest-free loans and tax credits to help leverage financing for this project," said Gloria L. Materre, Executive Director, IHDA.
According to the AARP and the U.S. Census Bureau, 20 percent of Americans will be over age 65 by 2030, causing an increase in demand for affordable supportive housing. "This project is an example of the public and private sectors -- a developer, a government agency, a financial institution -- coming together to pioneer a financial structure that will provide a beautiful, affordable home for more than 80 seniors," Mazzocco added.
"With 76 million Baby Boomers entering retirement over the next few years, the need for reasonably-priced senior housing is skyrocketing -- and our current economy has only exacerbated this need," said Beth Demes, executive director, Alden Foundation. "It's been a pleasure to work with our partners on this project, and we are welcoming residents to the new facility."
To date, Alden Gardens has leased more than 50 apartments. Construction on the multi-million dollar project was completed in January. Amenities include housekeeping and laundry services, three meals per day, personal assistance with daily activities, and medication reminders.
Harris is an integrated financial service organization providing more than 1.2 million personal, business and corporate clients with banking, lending, investing and wealth management solutions. The organization is a member of the BMO Financial Group (NYSE, TSX: BMO), which also provides corporate and investment banking services in the U.S. under the BMO Capital Markets name.
HarrisÂ® is a trade name used by various financial service subsidiaries of Harris Financial Corp. Banking products and services are provided by Harris N.A., The Harris Bank, N.A. and their bank affiliates, Members FDIC. Brokerage products are offered through Harris Investor Services, Inc. (HIS), a registered broker/dealer, member FINRA/SIPC, and SEC-registered investment adviser. Insurance and annuities are offered through Harris Bancorp Insurance Services, Inc. (HBIS). Investment banking services are provided by BMO Capital Markets Corp. (BMOCM), a registered broker dealer and member NYSE, FINRA and SIPC. HIS, HBIS and BMOCM are affiliated companies and are wholly owned subsidiaries of Harris Financial Corp. Products offered by HIS, HBIS and BMOCM are Not Insured by the FDIC or any Federal Government Agency, Not a Deposit of or Guaranteed by Any Bank or Bank Affiliate, May Lose Value. The purchase of insurance or an annuity is not a condition to any bank loan or service. Financial planning and investment advisory services are provided by Sullivan, Bruyette, Speros & Blayney, Inc., an SEC registered investment adviser. Family Office Services are provided by Harris myCFO, Inc. Investment advisory services are offered by Harris myCFO Investment Advisory Services LLC, a SEC-registered investment adviser and wholly-owned subsidiary of Harris myCFO, Inc. Investment advisory services to institutional clients are provided by Harris Investment Management (HIM), a SEC-registered investment adviser. Not all products and services are offered in every state and/or location.Harris Bank
CONTACT: Rachel Gerds of Harris Bank, +1-312-461-7865
Web Site: http://www.harrisbank.com/
SIOUX FALLS, S.D., April 22 /PRNewswire-FirstCall/ -- LodgeNet Interactive Corporation today reported quarterly revenue of $118.1 million compared to $128.1 million in the first quarter of 2009. The Company reported a net loss of $(2.5) million compared to net income of $6.0 million for the prior year period, which included a $9.3 million or $0.41 per share gain related to the acquisition of $31.5 million of our outstanding debt. Net loss attributable to common stockholders was $(3.9) million or $(0.17) per share (basic and diluted) for the first quarter of 2010 compared to net income attributable to common stockholders of $6.0 million or $0.27 per share (basic) for the first quarter of 2009. LodgeNet also reported $23.6 million in free cash flow (defined as cash provided by operating activities less cash used for investing activities, including growth-related capital) for the current quarter compared to $15.6 million in the prior year period.
The following financial highlights are in thousands of dollars, except per-share data and average shares outstanding:
Three Months Ended March 31, 2010 2009 ---- ---- Total revenue $118,052 $128,092 Income from operations 6,634 7,121 Net (loss) income (2,502) 5,958 Net (loss) income attributable to common stockholders (3,939) 5,958 Net (loss) income per common share (basic) $(0.17) $0.27 Net (loss) income per common share (diluted) $(0.17) $0.26 Adjusted Operating Cash Flow(*) $29,122 $34,604 Average shares outstanding (basic) 22,746,527 22,479,164 Average shares outstanding (diluted) 22,746,527 22,498,914
* Adjusted Operating Cash Flow is a non-GAAP measure which we define as Operating Income exclusive of depreciation, amortization, share-based compensation, and restructuring and reorganization expenses.
** Free Cash Flow, a non-GAAP measure, is defined by the Company as cash provided by operating activities less cash used for investing activities, including growth related capital.
"We delivered a solid quarter, in line with our guidance, as we continued to benefit from our initiatives and a conservative operating plan," said Scott C. Petersen, LodgeNet Chairman and CEO. "Our revenue diversification initiatives continue to move forward as we posted increased revenue from our Hotel Services, Advertising Services and Healthcare businesses. Additionally, last year's first quarter benefited from two significant one-time events: a one-time benefit from an employee unpaid leave program which reduced operating expenses by $1.1 million and the repurchase of $31.5 million of our bank debt in the open market, resulting in a non-operating gain which contributed $9.3 million to net income. Excluding those two events, we managed our cost structure flat to last year, and we continued to deliver improved operating results."
"We continued to strengthen our balance sheet during the quarter," said CFO Gary H. Ritondaro. "On a net debt basis, we have essentially reached the lowest leverage ratio required under our Credit Facility, a favorably priced facility which extends into 2014. Free cash flow increased 51.3% to $23.6 million as cash from operations was up $7.2 million, or 34.1% as compared to last year, while our capital investment activities were generally in line with the prior period. Additionally, we utilized the $13.7 million of net proceeds raised from our recent equity offering to reduce debt at quarter's end, determining that to be the best use of those proceeds in the near-term. As a result, we reduced long-term debt by $42.9 million, or 9.1%, during the quarter. As we accelerate our high-definition conversions in the second half of the year, we will allocate more of our internally generated cash flow to fully fund our plan to more than double the number of rooms we originally planned to convert to our HD platform in 2010."
"The equity proceeds we raised in March will allow us to accelerate our growth plans in the second half of the year," said Petersen. "Our high definition (HD) interactive system is producing 50% more revenue than our average room and we are seeing strong demand from hoteliers for this platform. We are presently targeting a select group of our existing customers with proposals that will take them to the new HD system in return for a long-term extension of our service agreement. As the economy improves, we remain focused on our best growth opportunities to drive long-term value for our clients and shareholders."
RESULTS FROM OPERATIONS THREE MONTHS ENDED MARCH 31, 2010 VERSUS THREE MONTHS ENDED MARCH 31, 2009
Total revenue for the first quarter of 2010 was $118.1 million, a decrease of $10.0 million or 7.8%, compared to the same period of 2009. The decrease in revenue was primarily from Guest Entertainment services and System Sales and Related Services, which was offset, in part, by increases in revenue from Hotel Services, Advertising Services and Healthcare.
Hospitality revenue, which includes Guest Entertainment, Hotel Services, System Sales and Related Services, and Advertising Services, decreased $10.3 million or 8.2%, to $115.5 million for the first quarter of 2010 as compared to $125.8 million for the prior year quarter. Average monthly Hospitality revenue per room was $21.71 for the first quarter of 2010, a decrease of 3.9% as compared to $22.58 per room in the first quarter of 2009.
Guest Entertainment revenue, which includes on-demand entertainment such as movies, games, music and other guest interactive services delivered through the television, declined $7.4 million or 9.7%, to $69.1 million in the first quarter of 2010 versus the first quarter of 2009. The decline in per room revenue continues to be driven by a conservative consumer buying pattern of travelers.
Hotel Services revenue, which includes recurring revenue from hotels for television programming and broadband Internet service and support, increased $1.5 million or 4.6%, to $34.5 million in the first quarter of 2010 versus $33.0 million for the first quarter of 2009. On a per-room basis, monthly Hotel Services revenue for the first quarter of 2010 increased 9.5% to $6.48 compared to $5.92 for the first quarter of 2009. Monthly television programming revenue per room increased 9.8% to $5.92 for the first quarter of 2010 as compared to $5.39 for the first quarter of 2009. This increase resulted primarily from the continued installation of high definition television systems and additional TV programming services. Recurring broadband Internet revenue per room increased 5.7% to $0.56 for the first quarter of 2010 compared to $0.53 for the same period of 2009.
System Sales and Related Services revenue, including sales of TV programming equipment, broadband Internet equipment, HDTV installations and other services to hotels, decreased $5.0 million or 34.2%, to $9.6 million during the first quarter of 2010 compared to $14.6 million in the first quarter of 2009. The decrease was due in part to a material HDTV equipment conversion contract, which contributed approximately $4.2 million of revenue in the first quarter of 2009.
The Hotel Networks ("THN") our advertising services subsidiary, generated revenue of $2.4 million, an increase of 32.9% compared to the $1.8 million generated in the first quarter of 2009. This increase was the result of an increase in channel access fee revenue.
Other Revenue includes the sale of interactive systems and services to Healthcare facilities increased $0.3 million or 11.5%, to $2.6 million during the current quarter compared to $2.3 million in the prior year quarter. During the quarter, we installed 1,133 beds in five facilities compared to 891 beds in six facilities during the prior year period.
Total direct costs (exclusive of operating expenses and depreciation and amortization discussed separately below) decreased 8.4% or $6.1 million, to $66.6 million in the first quarter of 2010 as compared to $72.7 million in the first quarter of 2009. The decrease in total direct costs was primarily due to lower system and equipment costs of $4.1 million and decreased commissions and royalties of $2.6 million, which vary with revenue. Partially offsetting the reductions was an increase to incremental TV programming costs of $0.6 million, which vary with the number of rooms served and the services provided. Total direct costs as a percentage of revenue was 56.4% this quarter as compared to 56.8% reported for the first quarter of 2009.
System Operations expenses increased $0.2 million or 1.8%, to $10.5 million in the first quarter of 2010 as compared to $10.3 million in the first quarter of 2009. The increase resulted from higher fuel costs and a one-time benefit of $0.4 million related to an employee unpaid leave program during the first quarter of 2009. As a percentage of revenue, System Operations expenses were 8.9% this quarter as compared to 8.1% in the first quarter of 2009. Per average installed room, System Operations expenses were $1.98 per room per month compared to $1.85 in the prior year quarter.
Selling, General and Administrative (SG&A) expenses increased $1.3 million or 12.0%, to $12.1 million in the current quarter as compared to $10.8 million in the first quarter of 2009. The increase resulted primarily from increased employee health insurance benefits costs in addition to a one-time benefit of $0.7 million related to an employee unpaid leave program during the first quarter of 2009. As a percentage of revenue, SG&A expenses were 10.3% in the current quarter as compared to 8.4% in the first quarter of 2009. SG&A expenses per average installed room were $2.28 as compared to $1.94 in the first quarter of 2009.
Depreciation and amortization expenses decreased $4.9 million, or 18.2% to $22.2 million in the first quarter of 2010 as compared to $27.1 million in the first quarter of 2009. The decline was due to assets becoming fully depreciated and the reduction in capital investments over the past two years. As a percentage of revenue, total depreciation and amortization expenses were 18.8% in the first quarter of 2010 versus 21.1% in the first quarter of 2009.
As a result of factors previously described, operating income decreased $0.5 million, to $6.6 million in the first quarter of 2010 as compared to $7.1 million in the first quarter of 2009, which included a one-time benefit of $1.1 million from an employee unpaid leave program. Adjusted Operating Cash Flow, a non-GAAP measure which we define as operating income exclusive of depreciation, amortization, share-based compensation, impairment, and restructuring and reorganization expenses, was $29.1 million for the first quarter of 2010 as compared to $34.6 million in the first quarter of 2009 driven by the decline in Guest Entertainment revenue as previously discussed.
Interest expense was $8.7 million in the first quarter of 2010 versus $9.9 million in the first quarter of 2009. The decrease resulted primarily from the change in weighted average long-term debt, which decreased to $459.1 million during the first quarter of 2010 from $570.9 million in the first quarter of 2009. The weighted average interest rate during the first quarter of 2010 was 6.99% versus 6.92% for the first quarter 2009. Interest expense for the first quarter of 2010 included $0.7 million related to the unrealized loss on an interest rate swap.
Net loss for the quarter was $(2.5) million compared to net income of $6.0 million for the first quarter of 2009. Net loss attributable to common stockholders was $(3.9) million for the first quarter of 2010, compared to net income of $6.0 million in the prior year quarter. The 2009 net income included a $9.3 million, or $0.41 per common share, gain related to the acquisition of $31.5 million of our outstanding debt, in addition to a one-time benefit of $1.1 million related to our employee unpaid leave program. Net loss per share attributable to common stockholders was $(0.17) for the first quarter of 2010 (basic and diluted) compared to net income per share attributable to common stockholders of $0.27 (basic) in the first quarter of 2009.
For the first quarter of 2010, cash provided by operating activities was $28.1 million a 34.1% increase as compared to $20.9 million in the first quarter of 2009. Cash used for property and equipment additions, including growth related capital, was $4.5 million during the first quarter of 2010 compared to $5.3 million in the first quarter of 2009. In March of 2010, we made the required Term B quarterly payment of $1.3 million and also made an optional payment of $44.0 million. Additionally, we used $1.4 million of cash for preferred stock dividends in the first quarter of 2010. During the first quarter of 2009, we made the required Term B repayment of $1.5 million and made an optional payment of $6.7 million against the Term B loan. We did not have preferred stock in the first quarter of 2009. The leverage ratio at the end of this quarter, calculated on a consolidated debt basis, was 3.59 times versus the covenant of 3.75 times. Cash as of March 31, 2010 was $9.9 million.
Continuing with our plan to moderate capital investment, we installed 4,730 new rooms and converted 4,752 rooms to our HD and digital platforms in the first quarter of 2010 as compared to 5,400 new rooms and 2,636 converted rooms during the first quarter of 2009. The average investment per newly-installed HD room decreased to $271 per room during the first quarter of 2010, compared to $339 per room during 2009. Factors contributing to the 20.1% or $68 decline included a larger average size of property installed during the first quarter of 2010 versus 2009, lower overhead costs and lower component costs. The average investment per converted room also decreased, by 15.4%, to $204 during the first quarter of 2010, compared to $241 during 2009, due to the same general factors noted above.
For the second quarter of 2010, LodgeNet expects to report revenue in the range of $115.0 million to $119.0 million. Adjusted Operating Cash Flow* in the second quarter of 2010 is expected to be in a range from $28.0 million to $31.0 million while Net Income (Loss) to Common is expected to be in a range of $(3.0) to $(1.0). This equates to Net Income (Loss) per common share of a range from $(0.12) to $(0.04).
For the first six-months, Free Cash Flow**, excluding the preferred stock dividend, is anticipated to be in a range of $33.0 million to $35.0 million.
The Company will also host a teleconference to discuss its results April 22, 2010, at 5:00 P.M. Eastern Time. A live webcast of the teleconference will also be available and can be accessed on the LodgeNet website at http://www.lodgenet.com/. The webcast will be archived on the LodgeNet website for one month. Additionally, the Company has posted slides at its website under the For Investors, Company Presentations section, which will be referenced during the conference call.
Special Note Regarding the Use of Non-GAAP Financial Information
To supplement our consolidated financial statements presented in accordance with accounting principles generally accepted in the United States ("GAAP"), we use adjusted operating cash flow, and free cash flow, which are non-GAAP measures derived from results based on GAAP. The presentation of this additional information is not meant to be considered superior to, in isolation of, or as a substitute for, results prepared in accordance with GAAP. Adjusted operating cash flow is a non-GAAP measure which we define as operating income (loss) exclusive of depreciation, amortization, share-based compensation, restructuring and integration and reorganization. Free Cash Flow, a non-GAAP measure, is defined by the Company as cash provided by operating activities less cash used for investing activities, including growth related capital. These non-GAAP measures are key liquidity indicators but should not be construed as an alternative to GAAP measures or as a measure of our profitability or performance. We provide information about these measures because we believe it is a useful way for us, and our investors, to measure our ability to satisfy cash needs, including one-time charges such as restructuring, reorganization or integration, interest payments on our debt, taxes and capital expenditures. Our method of computing these measures may not be comparable to other similarly titled measures of other companies.
About LodgeNet Interactive
LodgeNet Interactive Corporation is the leading provider of media and connectivity solutions designed to meet the unique needs of hospitality, healthcare and other guest-based businesses. LodgeNet Interactive serves approximately 1.9 million hotel rooms worldwide in addition to healthcare facilities throughout the United States. The Company's services include: Interactive Television Solutions, Broadband Internet Solutions, Content Solutions, Professional Solutions and Advertising Media Solutions. LodgeNet Interactive Corporation owns and operates businesses under the industry leading brands: LodgeNet, LodgeNetRX, and The Hotel Networks. LodgeNet Interactive is listed on NASDAQ and trades under the symbol LNET. For more information, please visit http://www.lodgenet.com/.
Special Note Regarding Forward-Looking Statement
Certain statements in this press release constitute "forward-looking statements." When used in this press release and in the prepared remarks during our April 22 conference call, as well as in response to the questions during the conference call, the words "intends," "expects," "anticipates," "estimates," "believes," "goal," "no assurance" and similar expressions, and statements which are made in the future tense or refer to future events or developments, including, without limitation, those related to our second quarter 2010 guidance, including revenue, adjusted operating cash flow and free cash flow, as well as the number of rooms to be converted to our HD platform, are intended to identify such forward-looking statements. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: the effects of economic conditions, including general financial conditions (including those represented recently by liquidity crises, government bailouts and assistance plans, bank failures, and recessionary threats and developments); the economic condition of the lodging industry, which can be particularly affected the financial conditions referenced above, as well as by high gas prices, levels of unemployment, consumer confidence, acts or threats of terrorism and public health issues; competition from providers of similar services and from alternative systems for accessing in-room entertainment; competition from HSIA providers; changes in demand for our products and services; programming availability, timeliness, quality and costs; technological developments by competitors; developmental costs, difficulties and delays; relationships with customers and property owners, in particular as we reduce capital investment; the availability of capital to finance growth; compliance with credit facility covenants; the impact of governmental regulations; potential effects of litigation; risks of expansion into new markets; risks related to the security of our data systems; and other factors detailed, from time to time, in our filings with the Securities and Exchange Commission. For any of the foregoing reasons, our guidance and our actual financial results may not meet our expectations. These forward-looking statements speak only as of the date of this press release. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
LodgeNet is a registered trademark of LodgeNet Interactive Corporation. All rights reserved. Other names and brands may be claimed as the property of others.
(See attached financial and operational tables) LodgeNet Interactive Corporation and Subsidiaries Consolidated Balance Sheets (Unaudited) (Dollar amounts in thousands, except share data) December March 31, 31, 2010 2009 ---- ---- Assets Current assets: Cash $9,928 $17,011 Accounts receivable, net 53,193 51,706 Other current assets 9,008 9,189 ----- ----- Total current assets 72,129 77,906 Property and equipment, net 191,761 206,663 Debt issuance costs, net 5,159 6,005 Intangible assets, net 103,838 106,041 Goodwill 100,081 100,081 Other assets 12,104 11,658 Total assets $485,072 $508,354 ======== ======== Liabilities and Stockholders' Deficiency Current liabilities: Accounts payable $50,196 $40,040 Current maturities of long-term debt 5,561 6,101 Accrued expenses 18,087 19,137 Deferred revenue 16,982 17,531 ------ ------ Total current liabilities 90,826 82,809 Long-term debt 421,474 463,845 Other long-term liabilities 29,999 32,687 Total liabilities 542,299 579,341 ------- ------- Commitments and contingencies Stockholders' deficiency: Preferred stock, $.01 par value, 5,000,000 shares authorized; Series B cumulative perpetual convertible, 10%, 57,500 issued and outstanding at March 31, 2010 and December 31, 2009, respectively (liquidation preference of $1,000 per share or $57,500,000 total) 1 1 Common stock, $.01 par value, 50,000,000 shares authorized; 25,025,414 and 22,537,664 shares outstanding at March 31, 2010 and December 31, 2009, respectively 251 225 Additional paid-in capital 391,767 379,223 Accumulated deficit (428,713) (426,211) Accumulated other comprehensive loss (20,533) (24,225) Total stockholders' deficiency (57,227) (70,987) Total liabilities and stockholders' deficiency $485,072 $508,354 ======== ======== The accompanying notes are an integral part of these consolidated financial statements. LodgeNet Interactive Corporation and Subsidiaries Consolidated Statements of Operations (Unaudited) (Dollar amounts in thousands, except share data) Three Months Ended March 31, --------- 2010 2009 ---- ---- Revenues: Hospitality and Advertising Services $115,499 $125,802 Other 2,553 2,290 Total revenues 118,052 128,092 ------- ------- Direct costs and operating expenses: Direct costs (exclusive of operating expenses and depreciation and amortization shown separately below): Hospitality and Advertising Services 65,261 71,794 Other 1,346 953 Operating expenses: System operations 10,515 10,326 Selling, general and administrative 12,115 10,818 Depreciation and amortization 22,173 27,105 Restructuring charge 3 107 Other operating expense (income) 5 (132) Total direct costs and operating expenses 111,418 120,971 ------- ------- Income from operations 6,634 7,121 Other income and (expenses): Interest expense (8,682) (9,881) Gain on extinguishment of debt - 9,295 Loss on early retirement of debt (493) (541) Other income 223 175 --- --- (Loss) income before income taxes (2,318) 6,169 Provision for income taxes (184) (211) ---- ---- Net (loss) income (2,502) 5,958 Preferred stock dividends (1,437) - ------ --- Net (loss) income attributable to common stockholders $(3,939) $5,958 ======= ====== Net (loss) income per common share (basic) $(0.17) $0.27 ====== ===== Net (loss) income per common share (diluted) $(0.17) $0.26 ====== ===== Weighted average shares outstanding (basic) 22,746,527 22,479,164 ========== ========== Weighted average shares outstanding (diluted) 22,746,527 22,498,914 ========== ========== The accompanying notes are an integral part of these consolidated financial statements. LodgeNet Interactive Corporation and Subsidiaries Consolidated Statements of Cash Flows (Unaudited) (Dollar amounts in thousands) Three Months Ended March 31, ------------------ 2010 2009 ---- ---- Operating activities: Net (loss) income $(2,502) $5,958 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation and amortization 22,173 27,105 Gain on extinguishment of debt (non- cash) - (9,295) Unrealized loss on derivative instruments 658 - Loss on early retirement of debt 493 541 Share-based compensation and restricted stock 312 271 Other, net 40 (135) Change in operating assets and liabilities: Accounts receivable, net (1,350) (4,449) Other current assets 170 730 Accounts payable 10,222 6,499 Accrued expenses and deferred revenue (1,521) (6,039) Other (597) (239) Net cash provided by operating activities 28,098 20,947 ------ ------ Investing activities: Property and equipment additions (4,525) (5,301) Net cash used for investing activities (4,525) (5,301) ------ ------ Financing activities: Repayment of long-term debt (45,274) (8,200) Payment of capital lease obligations (287) (523) Purchase of long-term debt - (10,750) Proceeds from investment in long-term debt 2,643 91 Proceeds from issuance of common stock, net of offering costs 13,692 - Payment of dividends to preferred shareholders (1,437) - Exercise of stock options 3 - Net cash used for financing activities (30,660) (19,382) ------- ------- Effect of exchange rates on cash 4 (23) --- --- Decrease in cash (7,083) (3,759) Cash at beginning of period 17,011 10,800 ------ ------ Cash at end of period $9,928 $7,041 ====== ====== The accompanying notes are an integral part of these consolidated financial statements. LodgeNet Interactive Corporation and Subsidiaries Supplemental Data 1st Qtr 4th Qtr 3rd Qtr '10 '09 '09 ------- ------- ------- Room Base Statistics -------------------- Total Rooms Served (1) 1,911,842 1,909,323 1,934,229 Total Guest Entertainment Rooms (2) 1,764,363 1,779,979 1,807,933 Total HD Rooms (3) 239,984 231,588 221,633 Percent of Total Guest Entertainment Rooms 13.6% 13.0% 12.3% Total Television Programming (FTG) Rooms (4) 1,083,837 1,087,860 1,095,719 Percent of Total Guest Entertainment Rooms 61.4% 61.1% 60.6% Total Broadband Internet Rooms (5) 200,139 201,936 206,914 Percent of Total Rooms Served 10.5% 10.6% 10.7% Revenue Per Room Statistics (per month) --------------------------------------- Hospitality and Advertising Services Guest Entertainment $12.99 $12.61 $14.01 Hotel Services 6.48 6.05 6.00 System Sales and Related Services 1.80 1.66 1.69 Advertising Services 0.44 0.33 0.30 ---- ---- ---- Total Hospitality and Advertising Services 21.71 20.65 22.00 Based on average Guest Entertainment rooms Summary Operating Results ------------------------- (Dollar amounts in thousands) Hospitality and Advertising Services Revenue: Guest Entertainment $69,082 $67,979 $76,369 Hotel Services 34,486 32,596 32,699 System Sales and Related Services 9,591 8,955 9,230 Advertising Services 2,340 1,799 1,657 ----- ----- ----- Total Hospitality and Advertising Services 115,499 111,329 119,955 Healthcare 2,553 1,967 1,167 ----- ----- ----- Total Revenue $118,052 $113,296 $121,122 Adjusted Operating Cash Flow (6) $29,122 $28,016 $30,039 Reconciliation of Adjusted Operating Cash Flow to Income From Operations ------------------------------------ (Dollar amounts in thousands) Adjusted Operating Cash Flow $29,122 $28,016 $30,039 Depreciation and Amortization (19,954) (20,483) (21,992) Amortization of Acquired Intangibles (2,219) (2,236) (2,236) Share Based Compensation and Restricted Stock (312) (394) (389) Restructuring Charge (3) (292) (128) Income From Operations $6,634 $4,611 $5,294 ====== ====== ====== 2nd Qtr 1st Qtr '09 '09 ------- ------- Room Base Statistics -------------------- Total Rooms Served (1) 1,956,562 1,973,472 Total Guest Entertainment Rooms (2) 1,827,636 1,849,304 Total HD Rooms (3) 210,262 199,290 Percent of Total Guest Entertainment Rooms 11.5% 10.8% Total Television Programming (FTG) Rooms (4) 1,104,660 1,106,833 Percent of Total Guest Entertainment Rooms 60.4% 59.9% Total Broadband Internet Rooms (5) 219,260 229,184 Percent of Total Rooms Served 11.2% 11.6% Revenue Per Room Statistics (per month) --------------------------------------- Hospitality and Advertising Services Guest Entertainment $13.60 $13.73 Hotel Services 6.04 5.92 System Sales and Related Services 1.74 2.61 Advertising Services 0.31 0.32 ---- ---- Total Hospitality and Advertising Services 21.69 22.58 Based on average Guest Entertainment rooms Summary Operating Results ------------------------- (Dollar amounts in thousands) Hospitality and Advertising Services Revenue: Guest Entertainment $74,980 $76,488 Hotel Services 33,292 32,972 System Sales and Related Services 9,601 14,581 Advertising Services 1,699 1,761 ----- ----- Total Hospitality and Advertising Services 119,572 125,802 Healthcare 2,409 2,290 ----- ----- Total Revenue $121,981 $128,092 Adjusted Operating Cash Flow (6) $31,669 $34,604 Reconciliation of Adjusted Operating Cash Flow to Income From Operations ------------------------------------ (Dollar amounts in thousands) Adjusted Operating Cash Flow $31,669 $34,604 Depreciation and Amortization (24,022) (24,638) Amortization of Acquired Intangibles (2,236) (2,467) Share Based Compensation and Restricted Stock (670) (271) Restructuring Charge (75) (107) Income From Operations $4,666 $7,121 ====== ====== (1)Total rooms served represents rooms receiving one or more of our services including rooms served by international licensees. (2)Guest Entertainment rooms, of which 86% are digital, receive one or more Guest Entertainment Services such as movies, video games, music or other interactive services. (3)HD rooms are equipped with high-definition capabilities. (4)Television programming (FTG) rooms receiving basic or premium television programming. (5) Represents rooms receiving high-speed Internet service included in total rooms served. (6) Adjusted Operating Cash Flow is a non-GAAP measure which we define as Income (Loss) From Operations exclusive of depreciation, amortization, share-based compensation, impairment, and restructuring and reorganization expenses.Photo: http://www.newscom.com/cgi-bin/prnh/20080115/AQTU120LOGO
CONTACT: Ann Parker, Director of Investor Relations of LodgeNet
Interactive Corporation, +1-605-988-1000, email@example.com; or Mike
Smargiassi of Brainerd Communicators, +1-212-986-6667, firstname.lastname@example.org,
for LodgeNet Interactive Corporation
Web Site: http://www.lodgenet.com/
MINNEAPOLIS, April 22 /PRNewswire/ -- One organization is showing the next generation how the positive power of business can put them on the road to success even in challenging economic times. Hundreds of business and education leaders will connect with thousands of top college and university student leaders at the SIFE USA National Exposition presented by Jack Link'sÂ® Beef Jerky at the Minneapolis Convention Center May 11-13 as students compete to represent the United States at the SIFE World Cup in Los Angeles, CA in October. (http://www.sife.org/usaexpo)
The three-day event features the same drama, tension and excitement as any college sports final, but in this competition, teams focus on convincing panels of business leaders that they are top in the nation at using business tools to improve the quality of life and standard of living for others. And the stakes are just as high...a good performance could mean prize money, visibility for universities, even jobs!
Teams will be judged by panels drawn from hundreds of the nation's top business leaders on how well they empowered people to live better lives such as helping aspiring entrepreneurs achieve success, equipping the unemployed with skills to find productive employment, teaching families how to gain financial security and bringing economic development to struggling neighborhoods. "SIFE students understand the opportunity for business to make a positive economic, social and environmental impact," says Douglas R. Conant, President and CEO of Campbell Soup Company , and Executive Committee member and former Chairman of the SIFE Board of Directors. "It's the reason so many recruiters have identified SIFE as a leading source of socially responsible business talent."
Approximately 2500 aspiring leaders comprising 170 college and university teams from around the country will participate. Having won at one of twelve regional events held earlier in the year, teams will present 24-minute multi-media summaries of the outreach projects they implemented throughout the year.
SIFE students also have the opportunity to interview for jobs and internships with more than four dozen of the nation's top companies during a two-day Career Fair. Recruiters compete aggressively for top talent and in some cases interview and offer jobs on the spot. "Experience-based learning gives SIFE students a clear advantage in the job market," says Alvin Rohrs, SIFE President and CEO. "They are proving that their knowledge and passion for business not only are attractive to employers, but can be a powerful force for change."
SIFE (Students In Free Enterprise)
SIFE is an international non-profit organization that brings together the leaders of today and tomorrow to create a better, more sustainable world through the positive power of business. Founded in 1975, SIFE has active programs on more than 1,500 college and university campuses in over 40 countries. For more information contact SIFE World Headquarters at 417-831-9505 or visit http://www.sife.org/.SIFE (Students In Free Enterprise)
CONTACT: Ellen Langas Campbell, NouSoma Communications, Inc., Office
+1-610-458-1580, Cell +1-610-256-2946, email@example.com
Web Site: http://www.sife.org/
ALLENTOWN, Pa., April 22 /PRNewswire-FirstCall/ -- The Pennsylvania Public Utility Commission has approved the results of PPL Electric Utilities' latest competitive power purchase for residential and small-business customers who do not choose their own generation suppliers.
The action completes the company's fourth power purchase for 2011. Based on its wholesale purchases so far, the company expects the generation price it passes on to customers will drop in January.
"We've locked in prices from suppliers for more than two-thirds of the electricity that customers may need for the first quarter of next year," said David G. DeCampli, president of PPL Electric Utilities. "While it's too soon to predict how customer bills could change in 2011, the average price of our purchases so far for early 2011 is about 16 percent below the price that we currently pay suppliers."
State law requires PPL Electric Utilities, which does not own power plants and does not generate electricity, to buy electricity supply from the competitive market for its customers who do not select alternative suppliers. The company must obtain electricity supply through a combination of short-term, long-term and spot-market purchases and pass the costs through to customers without profit.
The company awarded 14-month, full-requirements contracts for about 17 percent of the electricity needed from Jan. 1, 2011, to Feb. 29, 2012. The power price in these purchases, including state taxes and other charges, was $74.82 per megawatt-hour for residential customers and $76.99 per megawatt-hour for small and mid-sized businesses.
This was the fourth of 14 planned power purchases for 2011, 2012 and half of 2013. In this round of purchases, 21 companies competed for supply contracts.
Also in this round, the company purchased two 25-megawatt blocks of around-the-clock electricity supply at an average price of $46.59 per megawatt-hour to serve residential customers from Jan. 1, 2011, to Feb. 29, 2012. The price for these supply blocks is for energy only and does not include capacity and other charges, which the company will purchase separately from the regional PJM Interconnection.
As required by law, the company also secured alternative energy credits needed for these blocks of supply in the following amounts:
-- 132 "Tier 1" solar energy credits at a cost of $355 per credit. -- More than 15,000 "Tier 1" non-solar energy credits at a cost of $1.63 per credit. -- More than 29,000 "Tier 2" alternative energy credits at a cost of $0.13 per credit.
The price customers pay for generation if they don't choose another supplier will change quarterly in 2011. This means the company's price to compare, which includes generation and transmission charges, will also change quarterly. The price to compare allows customers to compare competitive supply offers to the price that they would pay PPL Electric Utilities if they don't shop. Residential customers can compare supplier offers by visiting http://www.papowerswitch.com/.
PPL Electric Utilities, a subsidiary of PPL Corporation , provides electric delivery service to 1.4 million customers in 29 counties of eastern and central Pennsylvania and has consistently ranked among the best companies for customer service in the United States. More information is available at http://www.pplelectric.com/.PPL Electric Utilities
CONTACT: Ryan Hill, +1-610-774-5997, PPL Electric Utilities
Web Site: http://www.pplelectric.com/
NEW YORK, April 22 /PRNewswire/ -- As educators prepare students to succeed in a 21st Century workforce, they must also provide a foundation for learning that will help students successfully navigate postsecondary academic and career training. Jeff Livingston, senior vice president of McGraw-Hill's Applied College and Career Readiness Learning Solutions Center, and Gregg Betheil, executive director, Office of Postsecondary Pathways and Planning with the New York City Department of Education, discuss these important issues in the latest edition of the District Leaders Podcast, the only national podcast created expressly for district and other educational leaders.
In this episode of the District Leaders Podcast, Mr. Betheil discusses what public schools in New York City are doing to prepare high school graduates to assume postsecondary education or specific careers in industry. Interviewed by Mr. Livingston, Mr. Betheil covers recent steps taken by the NYC Department of Education, including:
-- Creating and maintaining a diverse portfolio of school options for students and families in New York City through a "New School Development" process -- Preparing individualized reports for public schools outlining the postsecondary paths of past graduates, including the type of schools they have enrolled in and the types of programs they are pursuing -- Entering partnerships with higher education institutions that result in innovative Career and Technical Education (CTE) models
Mr. Betheil leads the New York City Department of Education's ongoing efforts to ensure that all graduates are ready for postsecondary success in two- and four-year colleges, apprenticeship programs and throughout their careers. His responsibilities include oversight of the NYCDOE-CUNY College Readiness & Success Initiative. In addition, he provides guidance to the city's school district to ensure that there is consistent and coherent information on postsecondary planning for students and families from kindergarten through graduation. This includes a portfolio of 30 Career and Technical Education (CTE) schools serving more than 30,000 students, and 345 CTE programs across the city, serving more than 110,000 students.
Mr. Livingston will serve as a recurring host of podcasts on this site related to college and career readiness.
About The District Leaders Podcast
The District Leader's Podcast team is passionate about education and deeply committed to student success. The site serves as a valuable tool for anyone interested in improving America's schools. District Leader's Podcast is sponsored by McGraw-Hill Education's Urban Advisory Resource comprising former education leaders and other experts with extensive experience in managing large school districts. It is produced by http://www.teacherspodcast.org/, a professional development resource for educators with an audience of more than 4.3 million listeners. The podcast is currently listed on iTunes as "New and Notable" for K-12 Education. Visit http://www.districtleaderspodcast.com/ for more information.
About the McGraw-Hill ACCR Learning Solutions Center
In June 2009, McGraw-Hill Education introduced the Applied College & Career Readiness Center (ACCR) with the focus of preparing students for the workplace after high school, the adult education programs that help put people to work and advance careers, and the college readiness products and services designed to help high school students attain the skills needed to excel in higher education. Livingston, the former president and CEO of Achieva.com, the first comprehensive online college admissions and counseling service, leads ACCR. For more information, please visit http://www.mhsegsolutions.com/.
About McGraw-Hill Education
McGraw-Hill Education, a division of The McGraw-Hill Companies , is a leading innovator in the development of teaching and learning solutions for the 21st century. Through a comprehensive range of traditional and digital education content and tools, McGraw-Hill Education empowers and prepares professionals and students of all ages to connect, learn and succeed in the global economy. McGraw-Hill Education has offices in 33 countries and publishes in more than 65 languages. Additional information is available at http://www.mheducation.com/.
Contact: Tom Stanton McGraw-Hill Education (212) 904-3214 firstname.lastname@example.orgMcGraw-Hill Education
CONTACT: Tom Stanton, McGraw-Hill Education, +1-212-904-3214,
Web Site: http://www.mheducation.com/
SAN DIEGO, April 22 /PRNewswire-FirstCall/ -- Nearly three-quarters of healthcare executives surveyed earlier this month say healthcare reform will have a negative financial impact on their facilities, while more than 60 percent note that reform will have a somewhat or very detrimental effect on the quality of care their facilities are able to provide.
These are among key findings from the 2010 Survey of Healthcare Executives: Initial Response to Healthcare Reform on Cost, Quality, conducted by AMN Healthcare , the nation's leading provider of comprehensive healthcare staffing and management services.
The survey was targeted to executives who will be among those responsible for implementing the new healthcare system put into place by healthcare reform.
"AMN's survey signals that the initial response to healthcare reform by the majority of hospital and medical group leaders is one of concern and it highlights that many healthcare executives are apprehensive about how reform will affect their facilities," said Susan Nowakowski, AMN Healthcare's President and Chief Executive Officer.
Only about one in five of those surveyed (22 percent) were greatly or moderately pleased by the passage of healthcare reform, while almost three out of four (72 percent) were either somewhat concerned or very concerned about passage of the new law.
Similarly, 63 percent said health reform will have a somewhat detrimental or very detrimental effect on the quality of care their facilities are able to provide, while only about 23 percent of executives said that healthcare reform will have a somewhat beneficial or very beneficial effect on the quality of care their facilities are able to provide patients.
Sixty-six percent said that healthcare reform will have a somewhat detrimental or a very detrimental effect on the overall quality of care all Americans are able to receive, while 27 percent said that healthcare reform will have a somewhat beneficial effect or a very beneficial effect on the overall quality of care Americans will receive.
In addition, the survey suggests that the majority of healthcare executives believe reform will create more patient demand for the services they offer and therefore a need for more clinicians. Sixty-two percent of those surveyed said healthcare reform will cause them to add more physicians, 56 percent said reform will cause them to add more nurses, and 56 percent said healthcare reform will drive them to add more allied healthcare professionals.
The survey was sent by email to 7,000 healthcare executives on April 7, 2010, two weeks after health reform was signed into law by President Obama. One hundred seventy-two responses were received by April 15. A complete breakdown of AMN's 2010 Survey of Healthcare Executives: Initial Response to Healthcare Reform on Cost, Quality, is available at http://www.amnhealthcare.com/.
About AMN Healthcare
AMN Healthcare is the nation's leading provider of comprehensive healthcare staffing and management services. As a leading provider of travel nurse and allied staffing services, locum tenens (temporary physician staffing) and physician permanent placement services, AMN Healthcare recruits and places healthcare professionals on assignments of variable lengths and in permanent positions with clients throughout the United States, who range from acute-care hospitals and physician practice groups to other healthcare settings, including rehabilitation centers, dialysis clinics, pharmacies, home health service providers and ambulatory surgery centers. For more information, visit http://www.amnhealthcare.com/.Photo: http://www.newscom.com/cgi-bin/prnh/20100111/LA35461LOGO
CONTACT: Don Cowan, Senior Director, Corporate Communications of AMN
Healthcare, +1-858-523-6622, email@example.com
Web Site: http://www.amnhealthcare.com/
WALTHAM, Mass., April 22 /PRNewswire-FirstCall/ -- Steinway Musical Instruments, Inc. , one of the world's leading manufacturers of musical instruments, today announced that it plans to issue an advisory release before the stock market opens on Monday, May 10, 2010, notifying the public that its earnings release for the first quarter ending March 31, 2010 has been posted to the Company's website http://www.steinwaymusical.com/. Interested parties will be able to download a copy of the first quarter earnings release on the Company's home page under "Latest News" or directly from http://www.steinwaymusical.com/news.php.
In conjunction with this release, Company management will host a conference call on Monday, May 10, 2010 at 11:00 a.m. ET to discuss operating performance, general business trends and the Company's outlook for the remainder of 2010. A live audio webcast of the conference call will be accessible through the Investor Relations section of the Company's website. A replay will be available approximately two hours after the call and may be accessed under Investor Relations, Audio Archive.
Steinway Musical Instruments, Inc., through its Steinway and Conn-Selmer subsidiaries, is one of the world's leading manufacturers of musical instruments. Its notable products include Bach Stradivarius trumpets, Selmer Paris saxophones, C.G. Conn French horns, Leblanc clarinets, King trombones, Ludwig snare drums and Steinway & Sons pianos. Through its online music retailer, ArkivMusic, the Company also distributes classical music recordings. For more information about Steinway Musical Instruments, Inc. please visit the Company's website at http://www.steinwaymusical.com/.
Contact: Julie Theriault Steinway Musical Instruments, Inc. Phone: 781-894-9770 Email: firstname.lastname@example.orgSteinway Musical Instruments, Inc.
CONTACT: Julie Theriault, Steinway Musical Instruments, Inc.,
Web Site: http://www.steinwaymusical.com/
NEWARK, N.J., April 22 /PRNewswire-FirstCall/ -- The PSEG Foundation has committed $605,000 for sustainability initiatives championed by Northeastern nonprofits. The announcement marks a significant amount of funding from well-known energy company PSEG for philanthropic initiatives that are teaching people about the value of economic, environmental and social responsibility.
"Earth Day is no longer just about the environment. It's grown into a sustainability celebration," said Vaughn McKoy, PSEG's director of corporate responsibility and sustainability, and president of the PSEG Foundation. "Responsible organizations and leaders know that the only way to long-term success and viability is through taking a balanced approach to people, planet and profits."
-- $150,000 over 2 years to Sustainable Jersey, a program that is helping NJ communities go green, control costs and take steps to maintain their long-term quality of life for residents by giving leaders guidance, training and technical support to help them implement a sustainable development agenda. It is helping communities with solar and wind projects, rain capture and reuse efforts, walking and biking programs, building and operating community food gardens, launching community outreach programs on recycling and energy, among other initiatives.
A specific amount of PSEG's funding will be directed toward towns in Southern New Jersey, since initial feedback indicates that rural and less resourced communities in this region are facing program participation challenges.
-- $400,000 over 3 years for the PSEG Institute for Sustainability Studies at Montclair State University. PSEG's funding will allow Montclair State to host a significant examination of the major issues affecting long-term environmental practices and sustainability issues in New Jersey and spur new partnerships between academia, industry and community. It will fund a program that will begin with a major international conference on sustainability this fall, followed by two years of research to address critical issues, and include a second conference addressing areas requiring further research.
The Institute will conduct research, education and outreach in an effort to balance preservation of Earth's life support systems with its production of sustainable goods and services. Working with the public, industry decision-makers planners and environmental managers, the University will incorporate these concepts into its approach to researching the management of urban watershed-coastal ecosystems.
-- $30,000 to Bridgeport Sustainability Initiative BGreen 2020, a comprehensive sustainability initiative intended to develop programs and policies that move Connecticut's largest city toward environmental, social, and economic sustainability. B-Green 2020 is working to develop immediate and longer term programs which will reduce the city's carbon footprint while growing its economy. To do this, it plans to limit mobile emissions through the provision of transportation alternatives and an emphasis on transit-oriented development, to remediate brownfields and reactivate vacant land as the foundation to vibrant neighborhoods and a growing tax base, to expand the city's recycling capacity and divert more waste from landfills and the waste to energy facility, and importantly to identify opportunities to reduce energy demand through green buildings and meet supply through renewable alternatives.
Burdened by a notable industrial past, declining population and job markets, and numerous instances of environmental injustice, Bridgeport faces significant challenges in steering a course toward sustainable living. BGreen 2020 intends to change the image of the city by positioning it as one that is green, clean, and safe.
-- $25,000 to Clean Air Cool Planet for their Climate Change Backpack, which includes climate change lesson plans and props for educators. Through environmental education for youth, the nonprofit hopes to create a new generation of environmental stewards who will make lifelong contributions to the kind of community greening programs that PSEG supports.
PSEG funds will be used to fund the staff time and travel costs necessary to promote and present five training workshops throughout the State of New Jersey, field educator inquiries and distribute backpacks. Funding will also go towards subsidizing the costs of training for educators who could not otherwise afford to attend.
PSEG is a publicly traded diversified energy company headquartered in Newark, New Jersey, and one of the ten largest electric companies in the U.S. PSEG has been listed numerous times on the Dow Jones Sustainability Index, and is committed to economic, environmental and social responsibility.
Want to know what's new at PSEG? Go to http://www.pseg.com/getnews and sign up to have our press releases and weekly environmental commentaries sent right to your inbox.Public Service Enterprise Group (PSEG)
CONTACT: Jenn Kramer, +1-973-430-6027
Web Site: http://www.pseg.com/
JULIAN, W.Va., April 22 /PRNewswire-FirstCall/ -- The Board of Directors of Massey Energy Company issued the following statement today:
"The Massey Energy family continues to grieve for those lost in the awful tragedy at Upper Big Branch and remains fully committed to the safety of our members. During times like these, a change in senior management is not appropriate or in the best interest of our members and shareholders; therefore, we want to emphasize that Don Blankenship has the full support and confidence of the Massey Energy Board of Directors," said Admiral Bobby R. Inman, Lead Independent Director.
(Logo: http://www.newscom.com/cgi-bin/prnh/20071031/MASSEYENERGYLOGO )
Massey Energy Company, headquartered in Richmond, Virginia, with operations in West Virginia, Kentucky and Virginia, is the largest coal producer in Central Appalachia and is included in the S&P 500 Index.Photo: http://www.newscom.com/cgi-bin/prnh/20071031/MASSEYENERGYLOGO
CONTACT: Media Hotline: +1-877-534-5180
Web Site: http://www.masseyenergyco.com/
PHILADELPHIA, April 22 /PRNewswire-FirstCall/ -- FMC Corporation today announced the following schedule for its first quarter 2010 earnings release and webcast conference call:
-- Earnings Release: Monday, May 3, 2010, after the stock market close via PR Newswire and FMC Corporation's website at: http://www.fmc.com/. -- Webcast Conference Call: Tuesday, May 4, 2010, at 11:00 a.m. ET. The live call is open to the public via Internet broadcast and telephone. Internet broadcast: http://www.fmc.com/ Passcode: FMC Dial-in telephone numbers: U.S. / Canada: (800) 374-1799 International: (706) 643-0900 Conference ID # 6982 2431 -- Webcast Conference Call Replay: Available via the Internet and telephone from 2:00 p.m. ET on Tuesday, May 4, 2010 until Friday, June 4, 2010. Internet replay: http://www.fmc.com/ U.S. / Canada telephone number: (800) 642-1687 International telephone number: (706) 645-9291 Enter Conference ID # 6982 2431
FMC Corporation is a diversified chemical company serving agricultural, industrial and consumer markets globally for more than a century with innovative solutions, applications and quality products. The company employs approximately 4,800 people throughout the world and operates its businesses in three segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals.
Safe Harbor Statement under the private Securities Act of 1995: Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning specific factors described in FMC Corporation's 2009 Form 10-K and other SEC filings. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. FMC Corporation does not intend to update this information and disclaims any legal obligation to the contrary. Historical information is not necessarily indicative of future performance.FMC Corporation
CONTACT: Media: Jim Fitzwater, +1-215-299-6633, or Investor Relations:
Brennen Arndt, +1-215-299-6266, both of FMC Corporation
Web Site: http://www.fmc.com/
NEW YORK, April 22 /PRNewswire-FirstCall/ -- ING U.S. announced today that Prakash Shimpi has been hired as Chief Risk Officer for ING U.S. Shimpi joins ING from Towers Watson where he was the Global Practice Leader for Enterprise Risk Management, as well as President and CEO of Towers Watson Capital Markets.
As Chief Risk Officer for ING U.S., Shimpi will oversee the enterprise-wide risk monitoring and management program for ING's U.S. insurance operations. His responsibilities will include managing the framework for measuring, controlling, hedging, and pricing risk, as well as compliance with all global financial reporting standards for the company.
Prakash has more than 25 years of risk management experience in the financial services industry. In his most recent role with Towers Watson, Shimpi was the managing principal and global leader for the firm's Enterprise Risk Management (ERM) practice. In this role, he oversaw all aspects of the Towers Watson ERM consulting practice, as well as providing finance, risk management and investment management expertise to corporate clients.
"We are fortunate to have someone with Prakash's extensive background and expertise to lead our risk management program in the U.S.," said Rob Leary, Chief Executive Officer, ING U.S. "As a leader in Retirement and Life Insurance, it is incumbent upon ING to appropriately manage the known and unknown risks that may face our customers, distribution partners, shareholders and employees. We believe Prakash is an exceptional addition to our management team and will continue to enhance our risk management practices to benefit key stakeholders."
Prior to his role with Towers Watson, Shimpi was president of Fraime LLC, where he provided counsel to senior executives on implementing ERM in their organizations. He also held executive leadership roles with Swiss Re Group, The Chase Manhattan Bank, and Drexel Burnham Lambert. He also helped develop programs to bridge theory and practice of ERM through fellowships with several leading universities in the U.S. and abroad.
ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in over 40 countries. With a diverse workforce of more than 107,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.
In the U.S., the ING family of companies offers a comprehensive array of financial services to retail and institutional clients, which includes life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits and financial planning. ING holds top-tier rankings in key U.S. markets and serves approximately 30 million customers across the nation. For more information, visit http://www.ing.com/US.ING
CONTACT: Dana E. Ripley, ING U.S., +1-770-980-4865, Cell:
Web Site: http://www.ing.com/US
NEW YORK, April 22, 2010 /PRNewswire/ --
- Arnaud Lagardère admet enfin avoir la preuve de l'actionnariat de Guy Wyser-Pratte - Les résolutions seront présentées aux prochaines AGA/AGE
Selon l'activiste retraité franco-américain Guy Wyser-Pratte, Lagardère SCA (MMB.PA) a notifié aujourd'hui à ses avocats avoir reçu suffisamment de preuves d'actionnariat de sa part, mettant ainsi un terme à un différend long de plusieurs semaines. Il y a quelques jours, Arnaud Lagardère avait publiquement affirmé que M. Wyser-Pratte n'avait pas encore prouvé qu'il détenait une part de la société et que cela pouvait influer sur la validité de ses résolutions soumises aux votes des actionnaires lors des AGA/AGE 2010. << Tout cela n'était qu'un prétexte pour détourner les actionnaires des véritables questions à débattre, la plus importante d'entre elles étant l'orientation stratégique de Lagardère et sa structure juridique, qui n'est plus viable à long terme. J'espère que les actionnaires se battront pour défendre leurs droits et m'aideront à faire avancer la cause d'une valeur actionnariale durable et pérenne >>, a commenté Guy Wyser-Pratte.
Guy Wyser-Pratte a vivement conseillé aux actionnaires d'envoyer un message à Arnaud Lagardère et de soutenir les résolutions qu'il présentera lors des AGA/AGE du 27 avril 2010.
VOTEZ AUJOURD'HUI POUR DÃ‰FENDRE VOS ACTIONS LAGARDÃˆRE SCA ! Votez POUR les résolutions: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 12, 14, A et B Votez CONTRE les résolutions : 11 et 13
Votre vote est important, quel que soit le nombre d'actions que vous possédiez. Si vous avez des questions ou avez besoin d'aide pour exercer votre droit de vote sur vos actions, n'hésitez pas à contacter notre notaire mandaté, MacKenzie Partners, Inc., par numéro vert gratuit aux Ã‰tats-Unis +1-800-322-2885 ou +1-212-929-5500 (PCV) ; ou au Royaume-Uni +44-(0)-203-178-8057 ; ou en France, numéro vert gratuit +33-0800-911181 ou par e-mail à email@example.com.Wyser-Pratte Management Co., Inc.
Bob Marese et Keith Parnell de MacKenzie Partners, Inc., +1-212-929-5500, +44-(0)-203-178-8057
SAN JOSE, Calif., April 22 /PRNewswire-FirstCall/ -- SonicWALL, Inc. , a leading secure network infrastructure company, today announced that on April 21, 2010 the Compensation Committee of the company's Board of Directors approved the grants of options to purchase up to 27,900 shares of common stock with an exercise price equal to the fair market value on the grant date to a total of twenty-seven (27) new employees of the company hired during the first calendar quarter of 2010.
Each option is a non-qualified stock option and has an exercise price equal to the fair market value of the underlying shares as of the grant date. The options vest as to 25% of the covered shares on the first anniversary of the grant date and as to 1/48 of the covered shares each month thereafter, so as to be 100% vested on the fourth anniversary of the grant date, subject to the employee's continued service. The options have a maximum term of seven (7) years.
The options were granted as inducements material to employment under the company's 2008 Inducement Equity Incentive Plan in accordance with NASDAQ Marketplace Rule 5635(c)(4).SonicWALL, Inc.
CONTACT: Qin Zou of SonicWALL, Inc., +1-408-962-6346,
Web Site: http://www.sonicwall.com/
WORCESTER, Mass., April 22 /PRNewswire-FirstCall/ -- U Car Share is expanding its growth as it partners with Assumption College by launching the alternative to vehicle ownership in Worcester, Massachusetts. U Car Share allows members access to cars 24/7, thus eliminating the need to own a car or bring one to campus during the school year. With a unique flexible-rate system, U Car Share members are able to enjoy the benefits of driving without having to worry about over paying for mileage. Members pay only for what they use, in one low hourly rate starting at $4.95 per hour (plus $0.49 per mile). U Car Share takes care of fuel, insurance and maintenance costs. If you drive longer distances, U Car Share offers rates which include 180 miles free starting at $8 per hour, depending on the vehicle.
Anyone 18 years or older with at least two years of driving experience may qualify to become a member and can then access any car in the country on the U Car Share network. U Car Share encourages students at Assumption College to consider using car sharing instead of bringing a car to campus. U Car Share is a convenient alternative that can save thousands of dollars vs. owning a car and having to deal with parking, insurance, fuel and maintenance.
U Car Share vehicles are now positioned for easy access to students, faculty and staff. U Car Share has contracted with Assumption for two car share vehicles, a Honda Insight Hybrid and low-emission Ford Focus. The vehicles are parked at the Plourde Parking Lot.
"We are so excited to add Assumption College to our network of colleges in Massachusetts," exclaimed Matthew Pepin, president, U-Haul Company of Western Mass. and Vermont. "Assumption College has really embraced this program; on the first day in operation we had several reservations on the Honda Insight. We will be delivering a second car, a Ford Focus, in just a few days."
U-Haul has been in the truck-sharing business for more than 61 years. Helping to create greater sustainability through shared-use vehicles is just another way of showing our commitment to our community.
For a limited time, membership is free for all students, faculty and staff (a $25 value). Log on to ucarshare.com today and enter promotion code AMPR when signing up. (This promo code will expire on May 31, 2010.)
"Assumption College is looking forward to its new partnership with U Car Share to help our students and staff find convenient and economical rental transportation right on campus," stated John Langlois, director of Auxiliary Services, Assumption College. "The students are very excited."
Students, faculty and staff will be able to access the vehicle with a U Car Share membership card. They will be able to log on to ucarshare.com at any time and reserve any vehicle of their choice on the U Car Share network. Members can reserve cars for as little as an hour at any time of day. Gas and insurance are all included in one low hourly rate starting at $4.95 per hour ($0.49 per mile). Daily and hourly rates with included miles are available as well.
Car sharing meets the needs of any individual who needs a car occasionally, while being sensitive to the surrounding community and environment. Car sharing reduces the demand for parking and results in greater sustainability while enabling individuals to retain their mobility.
Research shows that car sharing is great for the environment. Every shared car on the road can replace up to 15 personally owned vehicles. This means that fewer cars will need to be manufactured, fewer cars will be on the road and the community's carbon footprint will be reduced. Car sharing is fast becoming a critical element of the transportation network in many cities, enabling residents, students and businesses to get rid of their cars while still meeting their transportation needs.
U Car Share is committed to the community and will work with Assumption College to see that the program is successful. U Car Share is very excited to be in Worcester and looks forward to the growth of car sharing.
U Car Share is also available in: Portland, Maine; Madison, Wis.; Berkeley, Calif.; Portland, Ore.; Regis College, Lewis & Clark College, Linfield College and Virginia Tech. More locations will be coming soon.
For more information about U Car Share, log on to ucarshare.com or call 1-877-990-8227.
Since 1945, U-Haul has been the best choice for the do-it-yourself mover, with a network of more than 15,800 locations in all 50 United States and 10 Canadian provinces. U-Haul customers' patronage has enabled the U-Haul fleet to grow to approximately 101,000 trucks, 76,000 trailers and 34,000 towing devices. U-Haul offers more than 395,000 rooms and approximately 35 million square feet of storage space at nearly 1,091 owned and managed facilities throughout North America. U-Haul is the consumer's number one choice as the largest installer of permanent trailer hitches in the automotive aftermarket industry. As one of the nation's largest retailers of propane, U-Haul supplies alternative-fuel for vehicles and backyard barbecues.
U-Haul was founded by a Navy veteran who grew up during the Great Depression. Tires and gas were still rationed or in short supply during the late 1940s when U-Haul began serving U.S. customers. Today, that background is central to the U-Haul Sustainability Program: "Serving the needs of the present without compromising the ability of future generations to meet their own needs." Our commitment to reduce, reuse and recycle includes fuel efficient moving vans, neighborhood proximity, moving-box reuse, moving pads made from discarded material, and packing peanuts that are 100 percent biodegradable. Learn more about these facts and others at http://www.uhaul.com/sustainability.
Contact: Joanne Fried Ashleigh Wagner U-Haul Public Relations (602) 263-6194 firstname.lastname@example.orgPhoto: http://www.newscom.com/cgi-bin/prnh/20090622/LA34860LOGO-b
CONTACT: Joanne Fried or Ashleigh Wagner, both of U-Haul Public
Relations, +1-602-263-6194, email@example.com
Web Site: https://www.ucarshare.com/
NORFOLK, Va., April 22 /PRNewswire-FirstCall/ -- Ten sons and daughters of employees are receiving college scholarships from Norfolk Southern Corporation under the company's annual scholarship program.
Two are recipients of the National Merit Scholarship: -- Alexander Booth, son of Cary Booth, assistant vice president intermodal service development, and Jane Booth. He will graduate from Norfolk Academy, Norfolk, Va., and -- Rachel McFarland, daughter of John McFarland, engineer, and Julie McFarland. She will graduate from White Knoll High School, Lexington, S.C. Eight are recipients of Norfolk Southern Special Scholarships: -- Haley Beckett, daughter of Kenneth Beckett, retired signal maintainer, and Nancy Beckett. She will graduate from Norwalk High School in Norwalk, Ohio; -- Lauren Dryburgh, daughter of Joseph Dryburgh Jr., general manager Thoroughbred Direct Intermodal Services, and Susan Dryburgh. She will graduate from Upper Merion Area High School in King of Prussia, Pa.; -- Harold Haldren III, son of Andy Haldren Jr., road foreman engines, and Valorie Haldren. He will graduate from Liberty Christian Academy in Lynchburg, Va.; -- Alex Kowalski, son of John Kowalski, conductor, and Kathy Kowalski. He will graduate from Valley High School in New Kensington, Pa.; -- Caitlin McDaniel, daughter of Ricky McDaniel, hy-rail dump truck driver, and Catherine McDaniel. She will graduate from Fauquier High School in Warrenton, Va.; -- Kristin Re, daughter of Arthur Re, sheet metal worker, and Shay Re. She will graduate from North Lincoln High School in Lincolnton, N.C.; -- Sarah Richardson, daughter of Linda Richardson, senior designer, and Stephen Richardson. She will graduate from Atlanta Girls School in Atlanta; and -- Vanessa Taveras, daughter of Timothy Mauch, electrician, and Maria Mauch. She will graduate from Maumee High School in Maumee, Ohio.
National Merit Scholarship Corporation, an independent, nonprofit organization, selects scholarship recipients. For detailed descriptions of the scholarships sponsored by Norfolk Southern and other corporations, refer to the NMSC website, http://www.nationalmerit.org/.
Norfolk Southern Corporation is one of the nation's premier transportation companies. Its Norfolk Southern Railway subsidiary operates approximately 21,000 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is a major transporter of coal and industrial products.Norfolk Southern Corporation
CONTACT: Media: Robin Chapman, +1-757-629-2713,
firstname.lastname@example.org, Scholarship Information: Carol Sensenig,
Web Site: http://www.nscorp.com/
EDMONTON, April 22 /PRNewswire-FirstCall/ -- CN today announced a $250,000 donation to the Royal Alexandra Hospital Foundation in support of children's health and community injury prevention.
With this donation, CN and the Royal Alexandra Hospital have created the CN Injury Prevention Lecture Series featuring prominent Edmonton physician and safety expert Dr. Louis Francescutti.
"Safety is a core principle at CN," says Paul Miller, CN's Chief Safety and Transportation Officer. "We have a strong history of working to promote health and safety, near railway tracks and in our communities, in playgrounds, in homes and schools across our system. We're proud to partner with the Royal Alexandra Hospital Foundation to raise the overall safety."
CN's donation extends past these lecture series and will fund a future study of inner city health, focusing on the health needs of the children most affected by unemployment and homelessness.
Dr. Francescutti, an emergency physician at the Royal Alexandra Hospital and the Northeast Community Health Centre in Edmonton, is an internationally regarded expert on injury control. He was recently named president-elect of the Royal College of Physicians and Surgeons of Canada. In addition, Dr. Francescutti is a judge of the CN Safer Alberta Awards, an annual initiative honouring community and youth safety programs across the province.
A sought-after speaker who presents to private industry and government bodies across the globe, Dr. Francescutti's important and timely presentations for the CN Injury Prevention Lecture Series will be offered free to the public. The inaugural lecture, titled Keeping Youth Safe In the Workplace, is taking place at the hospital the evening of Thursday, April 22, 2010.
"Our twice-annual lecture series has become a must-attend event for many Edmontonians," says Andrew Otway, President and CEO of the Royal Alexandra Hospital Foundation. "Attendees leave our lectures armed with new and vital information on a variety of health topics, and they continue to tell us how grateful they are for this service. The CN Injury Prevention Lecture featuring Dr. Francescutti will add a new and exciting dimension and attract new audiences previously unaware of the series."
As an Imagine Caring Company, CN is committed to contributing one per cent of pre-tax profit to registered, non-profit organizations in communities where our employees work and where we operate our business. Through the CN Stronger Communities Fund, the company supports health and safety programs for young people, transportation education, the CN Railroaders in the Community employee volunteer grant program, and United Way.
CN employs more than 1,500 people in Edmonton and has operated trains here for more than a century.
CN - Canadian National Railway Company and its operating railway subsidiaries - spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul, Memphis, and Jackson, Miss., with connections to all points in North America.
About the Royal Alexandra Hospital Foundation
The Royal Alexandra Hospital Foundation raises funds to support one of northern Alberta's largest teaching and research hospitals. Donor contributions enhance the Royal Alexandra Hospital as a centre for health care excellence, whether for research, education or new equipment. The Foundation is also the charitable arm of Alberta's only dedicated women's hospital, the Lois Hole Hospital for Women, which will open to patients in spring 2010.
The Royal Alexandra Hospital Foundation is currently running several capital campaigns including the Campaign for the C.K. Hui Heart Centre and, in partnership with the University Hospital Foundation, the Campaign for Prostate Health.
The Foundation, a strong advocate for health education, offers a free health lecture series each spring and fall that is open to all members of the general public.
The Royal Alexandra Hospital Foundation is a registered Canadian Charitable Organization. All donors receive an official tax receipt for contributions. For more information, please visit http://www.royalalex.org/.
Dr. Louis Francescutti will be available for interviews at the close of the lecture.CN
CONTACT: Contact for CN: Kelli Svendsen, Senior Manager, Public and
Government Affairs, (604) 240-7037, Kelli.Svendsen@cn.ca; Contact for Royal
Alexandra Hospital Foundation: Sharlene Rutherford, Director, Communications,
Royal Alexandra Hospital, (780) 735-5655 office, (780) 932-4174 cellular
FORT WORTH, Texas, April 22 /PRNewswire-FirstCall/ -- American Airlines has been named the "Official Airline" and partner of the North Texas Super Bowl XLV Host Committee. As the "Official Airline," American will exclusively provide all airline travel for the Host Committee leading up to the big game in Arlington, Texas, on Feb. 6, 2011.
American, the Official Airline of the Dallas Cowboys, already has a significant presence at Cowboys Stadium, the site of Super Bowl XLV. The sponsorship with the North Texas Host Committee will enhance American's support of football in the North Texas community throughout the year.
As part of the agreement, American Airlines and the 2011 North Texas Host Committee are celebrating the rich history of football in the region by letting fans determine which moments are the most outstanding. With the selection process underway and continuing through mid-September 2010, American Airlines and the Host Committee are asking voters to cast their votes online at http://www.centuryinthemaking.com/ for their favorite North Texas football moments through the "Century in the Making" program.
Participants will vote for their favorite football memories in four voting periods online including High School, College, Unique/Special Moments and Professional. Voters will be entered to win prizes from American Airlines and the Host Committee for each phase of voting. All voters receive a promotional code for a discount off their next American Airlines flight purchased on AA.com, and at the end of the promotion, the votes will be compiled to build a list of the "Top 100 Moments in North Texas Football History." For full rules and conditions, log on to http://www.centuryinthemaking.com/.
About American Airlines
American Airlines, American Eagle and American ConnectionÂ® serve 250 cities in 40 countries with, on average, more than 3,400 daily flights. The combined network fleet numbers more than 900 aircraft. American's award-winning Web site, AA.comÂ®, provides users with easy access to check and book fares, plus personalized news, information and travel offers. American Airlines is a founding member of the oneworldÂ® Alliance, which brings together some of the best and biggest names in the airline business, enabling them to offer their customers more services and benefits than any airline can provide on its own. Together, its members serve nearly 700 destinations in more than 130 countries and territories. American Airlines, Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR Corporation. American Airlines, American Eagle, American Connection, AA.com, AAdvantage, AAnytime, MileSAAver and We know why you fly are registered trademarks of American Airlines, Inc.
American AirlinesÂ® We know why you flyÂ® Current AMR Corp. news releases can be accessed via the Internet. The address is http://www.aa.comAmerican Airlines
CONTACT: Billy Sanez, Corporate Communications of American Airlines,
Web Site: http://www.aa.com/
BOSTON, April 22 /PRNewswire-FirstCall/ -- Eaton Vance Floating-Rate Income Trust (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months and the nine months ended February 28, 2010. The Trust's fiscal year ends on May 31, 2010.
For the three months ended February 28, 2010, the Trust had net investment income of $9,142,270 ($0.244 per common share). From this amount, the Trust paid dividends on preferred shares of $293,953 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $8,848,317 or $0.236 per common share. For the nine months ended February 28, 2010, the Trust had net investment income of $27,821,678 ($0.744 per common share). From this amount, the Trust paid dividends on preferred shares of $1,332,905 (equal to $0.036 for each common share), resulting in net investment income after the preferred dividends of $26,488,773 or $0.708 per common share. In comparison, for the three months ended February 28, 2009, the Trust had net investment income of $9,668,937 ($0.259 per common share). From this amount, the Trust paid dividends on preferred shares of $682,224 (equal to $0.018 for each common share), resulting in net investment income after the preferred dividends of $8,986,713 or $0.241 per common share. For the nine months ended February 28, 2009, the Trust had net investment income of $34,542,831 ($0.925 per common share). From this amount, the Trust paid dividends on preferred shares of $3,504,598 (equal to $0.094 for each common share), resulting in net investment income after the preferred dividends of $31,038,233 or $0.831 per common share.
Net realized and unrealized gains for the three months ended February 28, 2010 were $33,023,431 ($0.875 per common share). The Trust's net realized and unrealized gains for the nine months ended February 28, 2010 were $126,855,092 ($3.394 per common share). In comparison, net realized and unrealized gains for the three months ended February 28, 2009 were $14,601,450 ($0.386 per common share). The Trust's net realized and unrealized losses for the nine months ended February 28, 2009 were $266,067,160 ($7.122 per common share).
On February 28, 2010, net assets of the Trust applicable to common shares were $553,484,849. The net asset value per common share on February 28, 2010 was $14.81 based on 37,384,240 common shares outstanding. In comparison, on February 28, 2009, net assets of the Trust applicable to common shares were $343,597,233. The net asset value per common share on February 28, 2009 was $9.19 based on 37,378,350 common shares outstanding.
The Trust is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. , based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $173.1 billion in assets as of March 31, 2010, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors. For more information about Eaton Vance, visit http://www.eatonvance.com/.
EATON VANCE FLOATING-RATE INCOME TRUST SUMMARY OF RESULTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended Nine Months Ended February 28, February 28, 2010 2009 2010 2009 ---- ---- ---- ---- Gross investment income $11,632 $12,720 $34,385 $46,818 Interest expense (974) (747) (2,151) (6,716) Operating expenses (1,516) (2,304) (4,412) (5,559) ------ ------ ------ ------ Net investment income $9,142 $9,669 $27,822 $34,543 Net realized and unrealized gains (losses) on investments $33,023 $14,601 $126,855 ($266,067) Preferred dividends paid from net investment income (294) (682) (1,333) (3,505) Net increase (decrease) in net assets from operations $41,871 $23,588 $153,344 ($235,029) ======= ======= ======== ========= Earnings per Common Share Outstanding ------------------- Gross investment income $0.312 $0.341 $0.920 $1.254 Interest expense (0.027) (0.008) (0.058) (0.168) Operating expenses (0.041) (0.074) (0.118) (0.161) ------ ------ ------ ------ Net investment income $0.244 $0.259 $0.744 $0.925 Net realized and unrealized gains (losses) on investments $0.875 $0.386 $3.394 ($7.122) Preferred dividends paid from net investment income (0.008) (0.018) (0.036) (0.094) ------ ------ ------ ------ Net increase (decrease) in net assets from operations $1.111 $0.627 $4.102 ($6.291) ====== ====== ====== ======= Net investment income $0.244 $0.259 $0.744 $0.925 Preferred dividends paid from net investment income (0.008) (0.018) (0.036) (0.094) ------ ------ ------ ------ Net investment income after preferred dividends $0.236 $0.241 $0.708 $0.831 ====== ====== ====== ====== Net Asset Value at February 28 (Common Share ) -------------------- Net assets (000) $553,485 $343,597 Shares outstanding (000) 37,384 37,378 Net asset value per share outstanding $14.81 $9.19 Market Value Summary (Common Share ) -------------------- Market price on NYSE at February 28 $15.45 $8.33 High market price (nine months ended February 28) $15.45 $15.27 Low market price (nine months ended February 28) $10.24 $6.72Eaton Vance Management
CONTACT: Investor Contact: +1-800-262-1122
Web Site: http://www.eatonvance.com/
BERWICK, Pa., April 22 /PRNewswire-FirstCall/ -- Unit 1 at PPL's Susquehanna nuclear plant near Berwick, Luzerne County, Pa., automatically and safely shut down Thursday morning (4/22) during equipment testing. The unit had returned to service late Wednesday (4/21) following its biennial refueling and maintenance outage.
"As part of the restart, several tests were scheduled at various power levels," said Jeff Helsel, PPL's Susquehanna plant manager. "The unit was operating at 30 percent of its electrical generating capacity when it safely shut down during one of those tests."
During the refueling and maintenance outage, in addition to replacing about 40 percent of the uranium fuel, workers completed a large number of equipment maintenance tasks and upgrades to improve plant safety, reliability and performance, he said. Included in the upgrades was installation of a new state-of-the-art digital control system that was being tested when the unit shut down.
"The unit shut down automatically as it is designed to do," Helsel said. "We perform these tests to ensure the safety and reliability of the unit. We expect to complete an evaluation of the shutdown quickly and have Unit 1 generating electricity again."
The Susquehanna plant, located in Luzerne County about seven miles north of Berwick, is owned jointly by PPL Susquehanna LLC and Allegheny Electric Cooperative Inc. and is operated by PPL Susquehanna.
PPL Susquehanna is one of PPL Corporation's generating facilities. Headquartered in Allentown, Pa., PPL Corporation controls or owns nearly 12,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity to about 4 million customers in Pennsylvania and the United Kingdom. More information is available at http://www.pplweb.com/ .PPL Corporation
CONTACT: Joe Scopelliti of PPL Corporation, +1-866-832-4474
Web Site: http://www.pplweb.com/
NEW YORK, April 22 /PRNewswire/ -- Starting April 22, Earth Day 2010, the Green Restaurant Association announces that Citysearch , one of America's most popular online local guides, will feature Certified Green RestaurantÂ® badges on its business listings nationwide. With the launch of a new search filter, users can sort by Certified Green RestaurantsÂ® to find local restaurants with the Certification seal.
The Green Restaurant Association, a national non-profit organization, will help Citysearch bring transparent, real green information to their users. With a 20-year-old restaurant certification program, the GRA's expertise is incomparable within the restaurant industry.
"Gone are the days of simply searching for a great date restaurant, or an Italian fine-dining location in your neighborhood," says Michael Oshman, Founder and CEO of the Green Restaurant Association. "Consumers want to know what their green dining options are, and Citysearch has acknowledged that demand by adding Certified Green RestaurantsÂ® to their search criteria. They're committed to providing consumers with a transparent, legitimate way to find these restaurants, and that's what makes them a leader in the listing website arena."
To earn the Certified Green RestaurantÂ® distinction, restaurants must meet the requirements of the GRA's rigorous, points-based program:
-- Accumulate a total of 100 Points -- Meet minimum points in 6 of the 7 environmental categories -- Have a full-scale recycling program -- Be free of Polystyrene Foam (aka Styrofoam) -- Complete the GRA's yearly education requirement
Media inquiries: please contact GRA Communications Manager, Colleen Oteri, at 617-737-4425, or email email@example.com or Citysearch's Brandi Willard at 310.360.4602 or email firstname.lastname@example.org
Visit dinegreen.com for more information on the GRA's certification standards.
About Citysearch, LLC
Citysearch, LLC is the leading online local media company, meeting the changing needs of consumers, publishers and local advertisers. Citysearch, LLC enables consumers to stay connected with access to neighborhood restaurants, bars, shopping, beauty and professional services information nationwide through its premium local brands, which include Citysearch.com, Urbanspoon and Insider Pages. The largest local content network, CityGrid, connects consumers and merchants across the Web, by distributing local content to publishers. Citysearch, LLC is an operating business of IAC . For more information, visit http://www.citysearch.com/
About the Green Restaurant Association
The Green Restaurant Association (GRA) is the only official certifier of Green RestaurantsÂ® in the country. The national non-profit organization was founded in 1990 to shift the restaurant industry toward ecological sustainability. For 20 years, the GRA has pioneered the Green RestaurantÂ® movement and currently works with over 650 restaurants throughout the U.S. and Canada. With a transparent and turnkey Certification system, the GRA has made it easy for thousands of restaurants to profit and become more environmentally sustainable. As the industry standard for Greening restaurants, the GRA has the world's largest database of environmental solutions for the foodservice industry. In 2009, the New York State Restaurant Association announced its official endorsement of the GRA, joining EPA Energy Star for Small Business, Environmental Defense Fund, and several other national environmental groups. The GRA has been featured on CNN, NBC Nightly News, NPR, and in The New York Times, and The Washington Post. For more information visit http://www.dinegreen.com/.
Media Contact: Colleen Oteri E. Colleen.email@example.com P. 617-737-4425Green Restaurant Association
CONTACT: Colleen Oteri of the Green Restaurant Association,
Web Site: http://www.dinegreen.com/
MIAMI, April 22 /PRNewswire/ -- Hot on the heels of its recent announcement that all of its widely heralded Solstice-class ships will sail together in Europe in the summer of 2011, today Celebrity Cruises announced that the four stylish vessels also will glide through the waters of the Caribbean later that year and into early 2012. Cruisers can book most of Celebrity's 2011-12 winter cruises and cruisetours beginning today.
"We believe that our 2011-12 winter destination portfolio brings to life the essence of our brand platform, 'Designed for you,'" said Celebrity Cruises President and CEO Dan Hanrahan. "Our guests told us that they wanted more variety in the Caribbean, so we not only sent all four of our newest ships, we also created a line-up of itineraries offering cruisers the opportunity to choose from a wide range of sailing lengths and destinations on our award-winning ships - all of which include Celebrity's signature service, style and world-class cuisine."
With Caribbean offerings on eight ships and itineraries ranging in length from four to 14 nights out of five homeports, discerning cruisers who seek a relaxing warm-weather getaway will have numerous ways to pamper themselves in style. "Firsts" in the season include not only the deployment of four modern, sophisticated Solstice-class ships to sail in the Caribbean, but also the availability of four- and five-night Caribbean cruises on Celebrity Millennium.
For the first time, a Solstice-class ship - Celebrity Silhouette, launching in 2011 - will sail from Cape Liberty (Bayonne), New Jersey, offering cruisers throughout the Northeast easy driving access to a vacation on the newest ship in the line's award-winning Solstice-class fleet. From November 2011 to April 2012, Celebrity Silhouette will sail 14 alternating Southern and Eastern Caribbean voyages of 12 nights in length. The Southern Caribbean itineraries will visit St. Thomas, St. Kitts, Antigua, St. Lucia and St. Maarten. Celebrity Silhouette's Eastern Caribbean cruises include visits to San Juan, Labadee (Celebrity's private-island destination in Haiti), St. Croix, St. Thomas, Antigua and St. Maarten.
Celebrity designed the Bayonne offerings as a result of guests and travel agents expressing a strong desire to experience a Solstice-class ship within driving distance from major Northeast metro areas. First booking rights went to members of Celebrity's loyalty program, Captain's Club, earlier this month. Today, these cruises - as well as Celebrity Silhouette's summer 2011 Europe voyages - opened for booking by the general public.
Sister Solstice-class ship Celebrity Equinox also will offer long Caribbean itineraries in the winter of 2011-12, sailing 15 alternating 10- and 11-night "Ultimate Caribbean" cruises out of Fort Lauderdale. The 10-night line-up focuses on Southern Caribbean experiences, with visits to St. Thomas, St. Kitts, Barbados, Dominica and St. Maarten. The 11-night cruises take cruisers into the Western Caribbean and Panama, with visits to Mexico, Belize or Honduras (depending upon itinerary), Costa Rica, Panama, Colombia and Grand Cayman.
Celebrity Constellation, which this month will undergo the brand's first "Solsticizing" (refitting to include many of the most popular Solstice-class attributes, such as Tuscan Grille and Bistro on Five specialty restaurants, the relaxed-yet-hip hangout, Cafe al Bacio, and more), will present a series of 14-night Southern Caribbean cruises roundtrip out of Fort Lauderdale, from November 2011 through April 2012. Ports of call include Aruba, Curacao, Grenada, Barbados, St. Lucia, Antigua, St. Maarten and St. Thomas.
For the first time, Celebrity Century - which underwent a significant revitalization in 2006, including the addition of 314 new stateroom verandas, a Murano specialty restaurant and the first "Ice Martini Bar" at sea - will present a season of 12-night Eastern Caribbean sailings out of Baltimore. The Caribbean season will be bookended by two Hawaii "mini-seasons" - one in the fall and one in spring - and also will include two special Panama Canal sailings between Baltimore to San Diego. These itineraries will open for sale in the coming weeks.
Continuing to offer popular, port-intensive seven-night voyages will be Celebrity Summit, sailing in the Southern Caribbean on Saturdays, roundtrip from San Juan. Celebrity Summit also will offer guests the opportunity to use technology to share aspects of their Caribbean escape, as it will be retrofitted this May with a "Celebrity iLounge" mirrored after the one debuting on Celebrity Eclipse, the newest Solstice-class vessel launching later this month in Southampton, England. The Celebrity iLounge will replace the Internet Cafe on Celebrity Summit, and feature a retail area offering the latest products through Celebrity's Authorized Apple Reseller status. The venue will be staffed by certified technologists who will offer contemporary online classes through the 'Discover' series of our inspiring and enriching 'Celebrity Life' experience. Also, early in the 2011-12 winter season, Celebrity Summit will join other Millennium-class ships in being "Solsticized."
Joining Celebrity Summit in being retrofitted with a Celebrity iLounge next month is Celebrity's flagship Solstice-class vessel, Celebrity Solstice, which will return to South Florida to offer roundtrip seven-night Caribbean cruises out of Fort Lauderdale in the winter of 2011-12. These will be a series of 25 alternating Eastern and Western Caribbean itineraries, including a special eight-night Eastern Caribbean holiday sailing on December 18 that will feature an extra sea day, giving cruisers even more time to enjoy Celebrity's outstanding cuisine and extraordinary service. Celebrity Solstice also will present a one-time six-night Western Caribbean voyage on January 2, ideal for cruisers who wish to experience a Solstice-class ship in the Caribbean but have less than a week to spend at sea. Celebrity's third Solstice-class ship, Celebrity Eclipse will return for the Caribbean for a second consecutive winter season in 2011-12, offering seven-night Eastern Caribbean cruises roundtrip out of Miami.
Cruisers seeking shorter Caribbean getaways in Celebrity's signature style can experience four- and five-night cruises roundtrip out of South Florida on Celebrity Millennium, for the first time, when the 2,034-guest vessel takes over Celebrity Century's previous five consecutive winter seasons of short Caribbean cruises. Sailing four- and five-night cruises roundtrip out of Miami, Celebrity Millennium will offer a total of 41 sailings with four distinct itineraries visiting a total of six ports.
Building on the variety that Celebrity continues to offer, the brand will continue to offer its popular year-round Galapagos Islands experiences on the 92-guest mega-yacht, Celebrity Xpedition. These all-inclusive voyages that feature naturalist-led excursions through the awe-inspiring region, include pre- and post-cruise stays in Quito, Ecuador. Celebrity Xpedition's 2011-12 cruises opened for sale last month.
Celebrity will continue to sail even further south than the Galapagos Islands with a variety of itineraries in South America - a region will visit for the 12th consecutive year in the winter of 2011-12. From December through February, Celebrity Infinity will present 13-, 14- and 15-night cruises between Valparaiso and Buenos Aires. These will be bookended between a 15-night repositioning cruise from Fort Lauderdale to Valparaiso - including a trip through the Panama Canal - on December 3, and the reverse on March 11.
Celebrity Infinity's line-up also includes a wide range of Panama Canal voyages lengthened from 14 to 15 nights. The Panama Canal voyages will now include the new port of Puerto Quetzal, Guatemala, and two-day Canal experience including a full day spent in the crossing and an extended (full-day) stay in Colon, Panama, allowing cruisers to spend more time in the region. Celebrity Infinity's Panama Canal voyages between the U.S. East and West coasts will be offered in September and October 2011, and March and April 2012. Celebrity Millennium also will offer a 15-night Panama Canal cruise from San Diego to Miami to reposition the ship from Alaska to the Caribbean, departing on September 19, 2011.
Cruisers who wish to make the most of their time in South America in the 2011-12 winter season can choose from a variety of cruisetours - escorted land tours offered pre- or post-cruise that are combined with the cruise itself for a longer, more in-depth destination experience. In South America, Celebrity offers several fully escorted land tours offered in combination with cruises departing from or arriving in Buenos Aires and Valparaiso. The five-day, four-night "Buenos Aires and Iguazu Falls" package includes visits to a gaucho "estancia," Buenos Aires' San Telmo region, and the city's trendy Puerto Madero neighborhood. The package also includes a short inland flight to Iguazu Falls, one of the continent's most stunning natural wonders, where guests spend two days exploring the massive waterfalls during included tours encompassing Devil's Throat, the lower and upper circuits of the Argentinean side of the falls, and a Zodiac ride along the lower Iguazu River. The six-day, five-night "Machu Picchu Adventure" package gives guests the opportunity to experience the Sacred Valley of the Incas in and around the Cuzco region, as well as the capital city of Lima. The package is highlighted by train travel to and from Machu Picchu, and over four hours of exploration time there. The experience also includes a tour of Cuzco and its walled Sacsayhuaman Inca area and the Cuzco Cathedral, as well as a city tour of Lima and several other activities that will enhance guests' South America vacation experience. Several inland flights are included.
Celebrity has designed a variety of shore excursions to round out the cruise experience in the Caribbean, the Panama Canal and South America in 2011-12.
In the Caribbean, Celebrity has designed its line-up of shore excursions to give cruisers a way to unwind in tropical paradise through nature-based activities, and opportunities to experience local history and culture. Examples include:
-- In St. Croix, "Carambola Beach Break" features snorkeling with tropical fish and turtles and over coral reefs -- In St. Maarten, "Loterie Farm Treetop Adventure Tour" presents an adventure course consisting of a pulse-pounding sequence of zip-lines, rope swings and 'bridges' suspended from platforms mounted in the serene forest -- In Costa Maya, "Kohunlich and Dzibanche Mayan Ruins Combo" tour includes the majestic pyramids and manicured lawns at Dzibanche, plus the ancient multilevel Mayan city of Kohunlich, with its magnificent cahoon palms -- In Cozumel, "Mexican Cuisine Workshop Tasting" allows guests to cook fine traditional Mexican cuisine, guided by an experienced chef, before enjoying their creations -- From St. Lucia, "Coastal Cruise to the Pitons" presents the wonder and sights of Petit and Gros Pitons, which are over 2,600 ft. high.
From Machu Picchu to penguin-sighting, Celebrity's South America and Panama Canal cruises are designed to highlight the region's natural beauty and culture, and a variety of shore excursions offer a more in-depth experience.
-- In Peru, "Cuzco and Machu Picchu Adventure" includes intensive exploration of the lost city of the Incas -- In Buenos Aires, "Estancia San Lorenzo Penguin Reserve and Punta Norte" tour pairs a visit to a Magellan penguin colony with lunch at a typical estancia -- From Puerto Montt, "Petrohue River Rafting" is an exhilarating class III-IV rafting trip down the Rio Petrohue River, one of Chile's glacial rivers -- In Colon, Panama, "Panama Canal Tour" lets guests experience the wonder of the Panama Canal from a different perspective - that of a ferry boat as it navigates the Miraflores Locks, Pedro Miguel Locks and Gaylard Cut.
For more information on Celebrity's cruises, cruisetours and shore excursions, travelers are encouraged to visit http://www.celebritycruises.com/sailwithus.
Celebrity Cruises is designed for discerning cruisers, with modern, sophisticated environments, impeccable service, enriching and inspiring onboard programs, and world-class cuisine. The ultimate in premium cruising, Celebrity sails in Alaska, Bermuda, California, Canada/New England, the Caribbean, Europe, Hawaii, the Pacific Coast, Panama Canal, South America, and year-round in the Galapagos Islands. Celebrity also offers immersive cruisetour experiences in Alaska, Canada, Europe and South America. Celebrity's mega-series of honors include being named the top mega-ship line in Conde Nast Traveler's annual Readers' Choice Awards (November 2009). Celebrity's fleet currently consists of 10 ships. Its $3.7-billion investment in building five stylish Solstice Class ships between 2008-2012 represents the largest newbuild commitment for a single brand in industry history. For more information, call your travel agent, dial 1-800-437-3111 or visit http://www.celebritycruises.com/.Celebrity Cruises
CONTACT: MEDIA: Elizabeth Jakeway, +1-305-539-6127,
firstname.lastname@example.org; Tavia Robb, +1-305-539-6721,
Web Site: http://www.celebritycruises.com/
LOS ANGELES, April 22 /PRNewswire-FirstCall/ -- Live Nation Entertainment, Inc. ("Live Nation") today announced the pricing of $250 million aggregate principal amount of Senior Notes due 2018 (the "Notes"). The Notes will be offered in a private placement in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.
The Notes will pay interest semiannually at a rate of 8.125% per annum. Live Nation estimates that the net proceeds from this offering will be approximately $245 million after deducting estimated offering expenses.
Live Nation intends to use the net proceeds from the offering along with borrowings under a new senior secured credit facility to repay in full the borrowings under its existing credit facility and the credit facilities of its wholly-owned subsidiary, Ticketmaster Entertainment LLC ("Ticketmaster"), convert existing preferred stock of one of its subsidiaries into the right to receive a cash payment, solicit consents from holders of $287.0 million of the outstanding principal amount of the 10.75% Senior Notes due 2016 of Ticketmaster and its subsidiary, Ticketmaster Noteco, Inc., and pay related fees and expenses. The completion of the offering of the Notes is conditioned upon Live Nation entering into the new credit facility.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offer of the securities will be made only by means of a private offering memorandum. The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release contains forward-looking statements regarding Live Nation's intention to issue the Notes and its intended use of the resulting proceeds. There is no assurance that Live Nation will successfully complete the proposed offering or use the proceeds as presently intended. Investors should not place undue reliance on forward-looking statements as predictions of future results. Live Nation undertakes no obligation to update or revise any forward-looking statements to reflect developments or information obtained after the date of this press release.
Information found on Live Nation's website is not incorporated by reference.Live Nation Entertainment, Inc.
CONTACT: Linda Bandov of Live Nation, +1-310-867-7000,
Web Site: http://www.livenation.com/
MILWAUKEE, April 22 /PRNewswire-FirstCall/ -- The boards of directors of Wisconsin Energy Corporation and Wisconsin Electric Power Company today declared regular quarterly dividends.
The Wisconsin Energy board of directors declared a quarterly dividend of 40 cents a share on the company's common stock. The dividend is payable June 1, 2010, to stockholders of record on May 14, 2010.
The board of directors of Wisconsin Electric Power Company declared a quarterly dividend of 90 cents a share on the Preferred Stock, 3.60% Series, payable June 1, 2010, to stockholders of record on May 14, 2010. The board further declared a quarterly dividend of $1.50 a share on the Six Per Cent Preferred Stock payable July 31, 2010, to stockholders of record on July 14, 2010.
Wisconsin Energy Corporation , based in Milwaukee, is one of the nation's premier energy companies, serving more than 1.1 million electric customers in Wisconsin and Michigan's Upper Peninsula and more than 1 million natural gas customers in Wisconsin. The company's principal utilities are We Energies and Edison Sault Electric. The company's other major subsidiary, We Power, designs, builds and owns electric generating plants. Wisconsin Energy Corporation (http://www.wisconsinenergy.com/), a component of the S&P 500, has more than $12 billion of assets, approximately 4,700 employees and 46,000 stockholders of record.
Wisconsin Electric Power Company, a principal utility subsidiary of Wisconsin Energy Corporation , is now doing business as We Energies. The company serves more than 1.1 million electric customers in Wisconsin and Michigan's Upper Peninsula and more than 460,000 natural gas customers in Wisconsin. Visit the We Energies Web site at http://www.we-energies.com/.Wisconsin Energy Corporation
CONTACT: Brian Manthey (news media), +1-414-221-4444, or Colleen F.
Henderson, CFA (analysts), +1-414-221-2592,
email@example.com, both of Wisconsin Energy Corporation
Web Site: http://www.wisconsinenergy.com/
SAN JOSE, Calif. and MILPITAS, Calif., April 22 /PRNewswire-FirstCall/ -- In a press conference with California Governor Arnold Schwarzenegger and Flextronics today, SunPower Corp. , a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, announced that it has partnered with Flextronics to begin manufacturing solar panels in Milpitas, Calif. by the end of this year. The announcement comes 25 years to the week since SunPower was founded in Silicon Valley in 1985.
The SunPower and Flextronics partnership is expected to create approximately 100 new jobs this year, and produce 75 megawatts of SunPower solar panels annually. The West Coast location will allow SunPower to quickly and cost-effectively supply SunPower panels to solar installations at homes, commercial and public facilities, and power plants throughout the Western U.S.
"I can think of no better way to celebrate Earth Day than to highlight action that is good for both California's environment and its economy. SunPower is not only enabling homes and businesses to conserve energy and save money by going solar, they are also creating jobs at a time when they are needed most," said Governor Schwarzenegger. "Today's announcement is another example of how our state's nation-leading green policies are encouraging nation-leading green businesses to ramp up investment in California."
"We commend Governor Schwarzenegger and our state and federal leaders for creating the long-term stability and visibility we need in the solar market to open this facility," said SunPower CEO Tom Werner. "The Governor's leadership on the California Solar Initiative, the Renewable Portfolio Standard, incentives for green manufacturing equipment and AB 32 provide us with the confidence to further invest in our home state. We look forward to working with the city of Milpitas to bring back manufacturing jobs and generate new economic opportunity in Silicon Valley, where SunPower was founded 25 years ago."
Establishing a U.S. manufacturing facility is a direct result of SunPower's three-year agreement with the US Department of Energy (DOE) under the Solar Energy Technologies Program. Under the agreement, which was initiated in 2007, SunPower may receive up to $24 million of federal funding to implement improvements across the value chain that reduce solar system costs through improvements in the design and manufacture of integrated solar power systems. Funding from the DOE supports the research and development of both the solar panel manufacturing equipment ordered for this facility as well as commercial rooftop and tracking power plant systems which will incorporate the solar panels. Four of the equipment suppliers for SunPower's solar panel manufacturing line manufacture their tools in the United States. The equipment set used in U.S. will also be exported to a solar panel manufacturing facility located in Europe. SunPower plans to apply a U.S. federal manufacturing tax credit awarded to it from federal stimulus dollars by the DOE to support its investment in the manufacturing equipment purchased for Silicon Valley.
Last year, SunPower launched its new SunPower T5 Solar Roof Tile product, the solar industry's most powerful rooftop system, as a result of the SAI program and less than two years after the company began receiving DOE research and development funding. To date, SunPower has delivered T5 Solar Roof Tile installations for customers such as Agilent Technologies and Harvard University, and recently announced a contract to deliver 200 megawatts of the technology to Southern California Edison for the utility's large solar photovoltaic installation program.
"According to the California Public Utilities Commission, more applications were received under the California Solar Initiative (CSI) last month than in any month since the CSI was launched three years ago," Werner continued. "Solar systems are affordable today for many kinds of customers in the private and public sectors. We are installing solar across the state and around the world - from rooftops to parking lots to power plants - and this manufacturing facility will help supply the growing demand for all of these applications, providing emission-free, renewable solar power."
"We are proud to have been selected as SunPower's manufacturing partner in California," said E.C. Sykes, president of Flextronics Industrial. "Today's announcement solidifies Flextronics' leading position as the clean tech supply chain partner of choice for OEMs participating in this important and rapidly growing market sector."
Founded in 1985, SunPower Corp. designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit http://www.sunpowercorp.com/.
Headquartered in Singapore (Singapore Reg. No. 199002645H), Flextronics is a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to automotive, computing, consumer, industrial, infrastructure, medical and mobile OEMs. Flextronics helps customers design, build, ship, and service electronics products through a network of facilities in 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market. For more information, please visit http://www.flextronics.com/.
SunPower's Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. This press release uses words and phrases such as "expected" "will," "plans" and similar expressions to identify forward-looking statements in this press release, including forward-looking statements regarding: (a) completing the manufacturing facility and manufacturing solar panels in 2010; (b) the expected number of jobs created in 2010; (c) the expected annual megawatt production from the facility; (d) supplying quickly and cost-effectively SunPower panels to solar installations at homes, commercial and public facilities, and power plants throughout the Western U.S.; (e) exporting the equipment set used in the U.S. to a solar panel manufacturing facility located in Europe; (f) SunPower's plans to apply a U.S. federal manufacturing tax credit to support its investment in the manufacturing equipment purchased for Silicon Valley; and (g) growing demand for rooftops, parking lots and power plants. Such forward-looking statements are based on information available to the company as of the date of this release and involve a number of risks and uncertainties, some beyond the company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) potential delays or difficulties in the manufacturing buildout or production processes; (ii) unanticipated delays or difficulties securing necessary permits, licenses or other governmental approvals; (iii) risks associated with the costs or continuation of supply of materials for the manufacturing operation; (iv) general business and economic conditions; (v) growth trends in the solar power industry; (vi) the availability and continuation of governmental and related economic incentives promoting the use of solar power, including tax credits and other incentives; and (vii) other risks described in the company's Annual Report on Form 10-K for the year ended January 3, 2010, and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing SunPower's views as of any subsequent date, and SunPower is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
SunPower is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.SunPower Corp.
CONTACT: Ingrid Ekstrom of SunPower Corp., +1-510-260-8368,
firstname.lastname@example.org; or Renee Brotherton of Flextronics,
Web Site: http://www.sunpowercorp.com/
SACRAMENTO, Calif., April 22 /PRNewswire-FirstCall/ -- Covenant Transport, Inc. was honored for its outstanding safety record at the California Trucking Association's Fleet Safety Awards Banquet in Sacramento on Wednesday, April 7th, at the Sheraton Grand in Sacramento. Covenant received first place in the General Commodity Truckload Over 7 Million Miles Division, and first place in the Local Under 4 Million Miles Division.
Covenant Transport is part of Covenant Transportation Group, Inc., the holding company for several transportation providers that offer premium transportation services for customers throughout the United States. The consolidated group includes operations from Covenant Transport and Covenant Transport Solutions of Chattanooga, Tennessee; Southern Refrigerated Transport of Texarkana, Arkansas; and Star Transportation of Nashville, Tennessee. The Company's Class A common stock is traded on the Nasdaq National Market under the symbol CVTI.
California Trucking Association's safety awards program judges companies on specific safety performance, including accident frequency, personnel and hiring systems, documented safety policies and procedures, driver-safety training, internal accident handling procedures, and participation in the association's safety activities. Top contenders' safety programs are audited, and accident statistics are reviewed by the CTA Safety Staff.Covenant Transport
CONTACT: Doug Cook, Vice President of Safety, Covenant Transport,
Web Site: http://www.covenanttransport.com/
MELBOURNE, Fla., April 22 /PRNewswire-FirstCall/ -- Harris Corporation , an international communications and information technology company, was recognized as one of the 2010 World's Most Ethical Companies by the Ethisphere Institute. This is the second consecutive year the company has secured a spot on the coveted list by implementing business practices that are instrumental to the company's success, benefit the community and raise the bar for ethical standards within the industry.
"Harris Corporation's promotion of a sound, ethical environment shines within its industry," said Alex Brigham, executive director of the Ethisphere Institute. "It shows a clear understanding that operating under the highest standards for business behavior goes beyond goodwill and 'lip-service' and is intimately linked to performance and profitability. This year's World's Most Ethical Companies award was more competitive than ever, because companies realize that making ethics a priority is critical amidst a tough economic environment."
Only 100 companies were selected from among a record number nominated representing 36 industries in 100 nations. Harris is one of three firms recognized in the Aerospace category, along with Rockwell Collins and The Aerospace Corporation. A sampling of other winners includes American Express, Campbell Soup, Caterpillar, Cisco Systems, Ford Motor Company, General Electric, Google, Nike, PepsiCo, Starbucks, T-Mobile USA, UPS and Xerox.
"Harris has long understood the importance of an ethics- and values-based business model," said Howard Lance, chairman, president and chief executive officer of Harris. "It's reflected by our mature corporate governance and business conduct programs as well as our long-standing initiatives in support of the environment, education and social responsibility. This award validates our unwavering commitment to ethics at every level, and we are honored to be named to the list of the World's Most Ethical Companies."
Through in-depth research and a multi-step analysis, Ethisphere reviewed thousands of nominations to determine the winners. The methodology for the ranking includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.
Read about the methodology and view the complete list of the 2010 World's Most Ethical Companies at http://ethisphere.com/wme-2010.
About Ethisphere Institute
The research-based Ethisphere Institute is a leading international think tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. The Institute's associated membership group, the Ethisphere Council, is a forum for business ethics that includes over 200 leading corporations, universities and institutions. The Ethisphere Council is dedicated to the development and advancement of individuals on its membership council through increased efficiency, innovation, tools, mentoring, advice, and unique career opportunities. Ethisphere magazine, which publishes the globally recognized World's Most Ethical Companies Ranking(TM), is the quarterly publication of the Institute. More information on the Ethisphere Institute, including ranking projects and membership, can be found at http://www.ethisphere.com/.
About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has approximately $5 billion of annual revenue and more than 15,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communicationsÂ® products, systems, and services. Additional information about Harris Corporation is available at http://www.harris.com/.Harris Corporation
CONTACT: Jim Burke, Corporate Headquarters, +1-321-727-9131,
Jim.Burke@harris.com, or Cindy Kane, Harris Community Relations,
+1-321-724-3018, email@example.com, both of Harris Corporation
Web Site: http://www.harris.com/
DES PLAINES, Ill., April 22 /PRNewswire-FirstCall/ -- UOP LLC, a Honeywell company, announced today that Honeywell Green Jet Fuel(TM) produced using Honeywell UOP's renewable jet fuel process technology powered a U.S. Navy F/A-18 Super Hornet flight as part of the Navy's efforts to certify the use of alternative fuels in military aircraft.
The F/A-18 Super Hornet, dubbed the Green Hornet by the Navy, was fueled with a 50/50 mixture of Green Jet Fuel made from camelina oil and petroleum-derived military jet fuel. The flight was held at the Naval Air Warfare Center in Patuxent River, Md., and was attended by Secretary of the Navy Ray Mabus. This is one of a series of biofuel test flights that will be conducted by the Navy F/A-18 Super Hornet test program and marks the first flight of a supersonic jet with afterburners flying on a biofuels blend.
The fuel was produced by Honeywell's UOP business unit using its Green Jet Fuel process technology under a project for U.S. Defense Energy Support Center (DESC). Honeywell's UOP is producing up to 190,000 gallons of fuel for the Navy and 400,000 gallons for the U.S. Air Force from sustainable, non-food feedstocks, including animal fats, algae and camelina.
The Navy plans a total of 17 flights as part of the certification program. The Air Force is undergoing similar testing and held its first demonstration flight with an A-10 Thunderbolt II in March. The aircraft also flew with a 50/50 blend of Green Jet Fuel made from camelina and petroleum-derived military jet fuel in both engines.
"These flights are critical to demonstrating the viability of fuels made from non-food, sustainable feedstocks and enabling the certification of Green Jet Fuel for military aircraft," said Jennifer Holmgren, vice president and general manager of UOP's Renewable Energy & Chemicals business. "We have already proven that our technology produces a viable fuel in commercial flight applications and look forward to the results of these certification tests."
Honeywell UOP's Green Jet Fuel process technology was originally developed in 2007 under a contract from the U.S. Defense Advanced Research Projects Agency (DARPA) to produce renewable military jet fuel for the U.S. military.
The process is based on hydroprocessing technology commonly used in today's refineries to produce transportation fuels. It produces an aviation biofuel that can be blended seamlessly with petroleum-based fuel. When used as part of as much as a 50 percent blend with petroleum-derived jet fuel, Green Jet Fuel is a drop-in replacement that requires no changes to the aircraft technology and meets all critical specifications for flight.
Camelina, the biofeedstock that was converted to make the fuel for the Navy test flight, is an inedible plant that grows in conditions where other food crops cannot and is considered a sustainable, second-generation resource because its cultivation and harvesting do not deplete valuable food, land or water resources. Camelina for the Navy demonstration flight was provided by Sustainable Oils.
Honeywell's UOP, a recognized global leader in process technology to convert petroleum feedstocks to fuels and chemicals, is developing a range of processes to produce green fuels from natural feedstocks. In addition to its Green Jet Fuel process technology, the company has commercialized the UOP/Eni Ecofining(TM) process to produce Honeywell Green Diesel(TM) from biological feedstocks. It has also a joint venture with Ensyn Corp. in Envergent Technologies LLC, which offers pyrolysis technology for the production of renewable heat, power and transportation fuels.
Honeywell's Aerospace business unit supplies auxiliary power units, navigation avionics, displays, exterior lighting, wheels, brakes and other mechanical equipment for the F/A-18 Super Hornet.
UOP LLC, headquartered in Des Plaines, Illinois, USA, is a leading international supplier and licensor of process technology, catalysts, adsorbents, process plants, and consulting services to the petroleum refining, petrochemical, and gas processing industries. UOP is a wholly-owned subsidiary of Honeywell International, Inc. and is part of Honeywell's Specialty Materials strategic business group. For more information, go to http://www.uop.com/.
Honeywell International (http://www.honeywell.com/) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit http://www.honeywellnow.com/.
This release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.UOP LLC, a Honeywell company
CONTACT: Susan Gross of UOP, a Honeywell Company, +1-847-391-2380,
Web Site: http://www.uop.com/