General Moly (GMO) Announces Third Quarter Results

LAKEWOOD, Colo.–(BUSINESS WIRE)– General Moly (NYSE Amex: GMO) (TSX:GMO.to – News) announced its unaudited financial results for the third quarter ended September 30, 2010. Net loss for the three month period ended September 30, 2010 was approximately $6.3 million ($0.09 per share), compared to a loss of $2.4 million ($0.03 per share) for the year ago period. Net loss for the nine month period ended September 30, 2010 was approximately $12.4 million ($0.17 per share), compared to a loss of $8.1 million ($0.11 per share) for the year ago period. Net loss for the third quarter was impacted by the previously-announced $5 million ($4 million attributable to General Moly) write down associated with the release of the Eureka Canyon Subdivision Lease.

Consolidated cash balance at the end of the third quarter was approximately $17 million compared to approximately $23 million at the end of the second quarter and approximately $49 million at the end of 2009. During the third quarter, cash use of approximately $6 million was the result of $4 million in development and milling equipment deposit costs and approximately $2 million in General and Administrative costs. The Company anticipates receiving $40 million from the closing of Tranche 1 of the Hanlong equity financing on December 20, 2010, as announced in a separate release on October 26, 2010.

The Company anticipates spending approximately $2 million on previously contracted long-lead milling equipment and associated freight and tax payments in the fourth quarter, in addition to ongoing administrative costs of approximately $3 million. Financial information is included at the end of this release.

FINANCING UPDATE

As announced on October 8, Hanlong received formal approval for the equity investment from the Chinese National Development and Reform Commission. On October 12, Hanlong received the Certificate of Overseas Investment as approval from the Chinese Ministry of Commerce and has filed that Certificate with the State Administration of Foreign Exchange, thus substantially satisfying Hanlong’s Tranche 1 investment conditions. As previously announced, Hanlong will close its purchase of the first $40 million equity tranche in General Moly, representing a 12.5% fully diluted stake and approximately 12 million shares, on December 20, 2010.

PERMITTING UPDATE

The Preliminary Draft Environmental Impact Statement (PDEIS) was completed and provided to Cooperating Agencies on August 18, 2010. These Agencies, in addition to the Company and the Environmental Protection Agency, provided comments on the PDEIS to the Bureau of Land Management (BLM) on September 23, 2010. The BLM and its independent EIS contractor are currently in the process of reviewing and incorporating the comments into a Draft EIS (DEIS). Once the DEIS is complete, the BLM will advance the DEIS through the Notice of Availability process, which is the procedural step to publishing the document in the Federal Register. The Company continues to expect the DEIS to be published later this year, but the time requirement for the BLM to assess comments and to revise the PDEIS, which the Company does not control, could push DEIS publication into early-2011. Following publication of the DEIS, the general public will review and comment on the DEIS and these comments will be considered by the BLM in preparing a Final EIS prior to the issuance of the Record of Decision, which the Company continues to anticipate receiving in mid-2011.

In June 2010, the Company filed change applications with the State Engineer’s office requesting permits to withdraw water at well locations matching those incorporated in the Company’s final hydrology models now approved by the BLM. These change applications went through a publication and protest period, which ended August 23, 2010. The State Engineer has set a hearing date for December 6, 2010, where protests to the Company’s water applications will be heard. Following the hearing, the State Engineer will issue a ruling with respect to the Company’s water applications. The Company remains confident that the State Engineer will rule favorably, and it will be granted required water permits for the Mt. Hope Project in sufficient time to maintain the Company’s current project development timeline.

Following the creation of the Agricultural Sustainability Trust and the Eureka Producer’s Cooperative’s withdrawal of all protests and appeals with respect to the Company’s water applications, the Company has focused on working with the Commissioners of Eureka County to find a solution to the County’s opposition of the Company’s water applications. The Company’s scientific studies continue to indicate that Mt. Hope’s water pumping in Kobeh Valley will have virtually no impact to water in Diamond Valley.

ENGINEERING AND EQUIPMENT PROCUREMENT UPDATE

The Company will restart engineering efforts, which had been paused in March 2009 to conserve cash, following the publication of the Draft EIS. Equipment procurement efforts, which had also been paused, will resume later in the year or early next year. Although the Company has secured orders for most of the long-lead milling equipment, firm orders for much of the mobile mine fleet and other process equipment must still be placed.

MOLYBDENUM MARKET UPDATE

Over the third quarter of 2010, according to Platts Metals Week, spot molybdenum prices peaked at $16.03 per pound at the beginning of September after trading up from a low of $13.88 per pound in mid-July. The market ended the third quarter with a price of $15.35. Price weakness in July was attributed to seasonal summer slowdown due to the European holiday season while higher prices later in the quarter were attributed to a resumption of normal market activities after the summer slowdown. At present, the market seems relatively balanced with prices hovering around the $15 per pound level.

China remains a net importer of molybdenum through August, importing approximately 5.5 million net pounds year-to-date. Low levels of raw exports from China continue to force Korean and Japanese steel producers to source molybdenum from the West.

Additional information on the Company’s third quarter 2010 results will be available in General Moly’s 2010 Form 10-Q, which will be filed with the Securities and Exchange Commission and posted on the Company’s website.

General Moly is a U.S.-based molybdenum mineral development, exploration and mining company listed on the NYSE Amex (formerly the American Stock Exchange) and the Toronto Stock Exchange under the symbol GMO. Our primary asset, our interest in the Mt. Hope project located in central Nevada, is considered one of the world’s largest and highest grade molybdenum deposits. Combined with our second molybdenum property, the Liberty project that is also located in central Nevada, our goal is to become the largest primary molybdenum producer by the middle of the decade. For more information on the Company, please visit our website at http://www.generalmoly.com.

Forward-Looking Statements

Statements herein that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and are intended to be covered by the safe harbor created by such sections. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected, or implied by the Company. These risks and uncertainties include, but are not limited to, metals price and production volatility, global economic conditions, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, exploration risks and results, political, operational and project development risks, including the Company’s ability to obtain required permits to commence production and its ability to raise required financing, adverse governmental regulation and judicial outcomes. The closing of the Hanlong transaction and obtaining bank financing are subject to a number of conditions precedent that may not be fulfilled. For a detailed discussion of risks and other factors that may impact these forward-looking statements, please refer to the Risk Factors and other discussion contained in the Company’s quarterly and annual periodic reports on Forms 10-Q and 10-K, on file with the SEC. The Company undertakes no obligation to update forward-looking statements.

General Moly
Investors:
Seth Foreman, 303-928-8591
sforeman@generalmoly.com
or
Business Development:
Greg McClain, 303-928-8601
gmcclain@generalmoly.com
info@generalmoly.com
http://www.generalmoly.com

Graham Corp. (GHM) Reports 10% Net Margin on Sales of $15.7 Million

BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE Amex: GHM), a designer and manufacturer of critical equipment for the oil refining, petrochemical and power industries, today reported its financial position and results of operations for its second quarter and six-month period ended September 30, 2010. Graham’s current fiscal year ends March 31, 2011, and is referred to as “fiscal 2011.”

Net sales were $15.7 million in the second quarter of fiscal 2011, slightly below net sales of $16.1 million in the prior year’s second quarter, but 18% above net sales of $13.4 million in the trailing first quarter of fiscal 2011. Net income in the second quarter was $1.6 million, or $0.16 per diluted share. Net income in the second quarter of fiscal 2011 was up 6% from net income of $1.5 million, or $0.15 per diluted share, in the same period last year and was 77% above net income in the trailing first quarter of fiscal 2011 on higher volume. Net income and earnings per diluted share in the second quarter of the prior fiscal year were negatively impacted by $0.5 million and $0.05, respectively, due to a tax charge and restructuring expenses.

Mr. James R. Lines, Graham’s President and Chief Executive Officer, commented, “The quick action to align costs with our revenue and the productivity gains realized from our continuous improvement program that we have implemented over the past four years enabled us to remain profitable through the trough of the cycle these past four quarters. During this past quarter revenue expanded as we began converting our large backlog into sales. We anticipate that modest revenue expansion will continue in the third quarter and accelerate somewhat in the fourth quarter of FY11.”

Continued Improvement in International Markets

International sales, which represented 52% of total sales in the second quarter of fiscal 2011 compared with 50% of total sales in fiscal 2010’s second quarter, were $8.2 million. The slight increase from $8.0 million during the same quarter of fiscal 2010 helped to offset declines in domestic sales. Sales to South America, Mexico and Africa grew while sales to Asia and the Middle East declined. U.S. sales in the second quarter of fiscal 2011 were $7.5 million, compared with $8.1 million in the prior year’s second quarter, a decline of 7%. U.S. sales comprised 48% of total sales in the current quarter compared with 50% in last year’s second quarter. The decline in U.S. sales, both on a dollar and relative basis, was the result of the continued slowdown in the U.S. refining industry, driven by an uncertain regulatory environment and a decline in demand for petroleum products and gasoline related to the weak economy, sustained high levels of unemployment and increased conservation efforts.

Thirty-four percent of Graham’s sales in the second quarter of fiscal 2011 were to the refining industry compared with 44% of sales in the same period of the prior fiscal year. Approximately 32% of sales were to the chemical/petrochemical industry during the second quarter of fiscal 2011 compared with 33% in the prior year’s second quarter, while sales to other commercial and industrial applications accounted for 34% of sales, approximately half of which were to the renewable energy markets, up from 23% in last year’s second quarter.

Fluctuations in Graham’s sales among geographic locations and industries can vary measurably from quarter to quarter based on the timing and magnitude of projects. Graham does not believe that such quarter-to-quarter fluctuations are indicative of business trends, which it believes are more apparent on at least a trailing 12-month basis. Nevertheless, Graham expects that international sales will continue to comprise a larger portion of future revenue in fiscal 2011 and beyond.

Solid Operating Performance During Bottom of Cycle

Gross profit was $5.3 million, or 34% of sales, in the second quarter of fiscal 2011. Gross profit was $5.9 million, or 36% of sales, in the same period of the prior fiscal year. However, gross profit margin was up from 29% in the trailing first quarter of fiscal 2011. Improvements in gross profit margin were based on increased volume and favorable product and geographic mix.

Selling, general and administrative (“SG&A”) expenses in the second quarter were $3.0 million, approximately the same as in the same prior year period. As a percentage of sales, SG&A was approximately 19% in both periods and was consistent with the level of SG&A spending in the first quarter of fiscal 2011.

Operating profit in the second quarter of fiscal 2011 was $2.3 million, down from operating profit of $2.7 million in the second quarter of fiscal 2010. The decrease was primarily a result of more competitive pricing environment. Operating margin was 15% in the current quarter compared with 17% in the prior year’s second fiscal quarter, but measurably improved over operating margin of 10% in the trailing first quarter of fiscal 2011.

Interest income in the second quarter of fiscal 2011 increased to $18 thousand compared with $15 thousand in the same period of the prior fiscal year primarily as a result of a higher level of invested cash.

Graham’s effective tax rate in the second quarter of fiscal 2011 was 33%. The effective tax rate for the second quarter of fiscal 2010 was 46% and included a charge for unrecognized tax benefits related to the Company’s previously claimed research and development tax credits.

First Half Fiscal 2011 Review

Net sales for the first six months of fiscal 2011 were $29.1 million, a decline of $7.2 million, or 20%, compared with net sales of $36.2 million in the first six months of fiscal 2010. Such decline largely resulted from a significant decline in demand, as order flow stalled 12 to 18 months ago due to very weak economic conditions globally. International sales increased to 55% of sales during the first six months of fiscal 2011 compared with 49% in fiscal 2010. U.S. sales were down to 45% of sales for the six-month period, compared with 51% in the fiscal 2010 six-month period.

Sales to the refining industry accounted for 30% of revenue in the first six months of fiscal 2011, down from 45% in same period of fiscal 2010. Chemical/petrochemical sales were 35% of revenue compared with 28% in the prior year and sales to other commercial and industrial applications represented 35% of sales in the fiscal 2011 six-month period compared with 27% in the six-month period of fiscal 2010.

Gross profit for the fiscal 2011 six-month period was $9.2 million, or 32% of sales, compared with $14.1 million, or 39% of sales, in the prior year period. The decline was primarily related to lower sales, somewhat offset by cost reduction activities, purchasing discipline and improvements in operating efficiencies achieved as part of Graham’s continuous improvement program.

SG&A expenses declined to $5.6 million in the fiscal 2011 six-month period compared with $6.3 million in the first six months of fiscal 2010. The decrease was due primarily to a combination of cost reductions related to fiscal 2010 restructuring initiatives and reduced commissions on lower sales. As a percentage of sales, SG&A was 19% in the first half of fiscal 2011 compared with 17% in the same period the prior year. The increase on a percentage basis was primarily a result of the decline in sales.

Net income in the first six months of fiscal 2011 was $2.4 million, or $0.24 per diluted share, compared with net income of $5.0 million, or $0.50 per diluted share, in the same six-month period of fiscal 2010.

Mr. Jeffrey F. Glajch, Chief Financial Officer, commented, “We believe that this last quarter was the end of a 12-month trough in our business. Although we expect revenue for the second half of fiscal 2011 to continue to trend higher, our margins are not expected to keep pace as we are working through orders won in the highly competitive environment over the past year.”

Balance Sheet Remains Strong with Significant Cash Position

Cash, cash equivalents and investments at September 30, 2010 were $70.8 million compared with $71.2 million at June 30, 2010 and $74.6 million at March 31, 2010. Included in cash and equivalents is a significant amount of negotiated customer deposits which we received near the end of fiscal 2010, approximately $4 million of which has been utilized as planned through the first six months of fiscal 2011 to purchase materials for the related projects. The balance of these remaining deposits is approximately $10 to $12 million and will be used to procure materials for the related projects through fiscal 2013. At September 30, 2010, approximately $64.1 million was invested in U.S. Treasury notes with maturity periods of 91 to 120 days. Graham had no borrowings outstanding at the end of the quarter, excluding $12.4 million in outstanding letters of credit, against its $30.0 million revolving line of credit facility. Graham’s cash and cash equivalents balance at the end of last year’s second quarter was $54.7 million. The notably higher cash balance in the current period when compared with last year resulted both from cash generated from operations during the 12 months ended September 30, 2010, and, as discussed previously, increased customer deposits.

Net cash provided by operating activities for the second quarter of fiscal 2011 was $0.6 million compared with $9.8 million generated in the prior year’s second quarter and $2.8 million used in operations in the fiscal first quarter of 2011. The improvement in cash generated from operations compared with the first quarter was primarily due to higher net income in the current quarter. For the first six months of fiscal 2011, cash used in operations was $2.2 million compared with cash generated from operations of $9.3 million during the same period last year. Graham expects that it will use cash in its operations for the remainder of fiscal 2011 as it continues to utilize customer deposits to purchase inventory for the related customer projects as they enter production.

Capital expenditures were $164 thousand in the second quarter and $689 thousand in the first half of fiscal 2011, compared with $202 thousand for the second quarter and $282 thousand in the first half of fiscal 2010. Capital expenditures in fiscal 2011 are expected to be approximately $2.8 million to $3.3 million, above Graham’s historic annual level of capital spending of $1.5 to $2.0 million. Approximately $1.5 million in equipment will be purchased in order to complete the large U.S. Navy program order that Graham won in the third quarter of fiscal 2010. Approximately 80% of capital spending is expected to be for machinery and equipment. Information technology and other anticipated expenditures are each expected to account for approximately 10% of estimated capital spending.

Outlook

Orders during the second quarter of fiscal 2011 were $10.5 million, above orders of $8.1 million in the first quarter of fiscal 2011, but below orders of $29.6 million in the prior fiscal year’s second quarter. Orders from international customers were 67% of total orders during the second quarter of fiscal 2011, while U.S. customers accounted for 33% of total orders. International orders comprised 47% and 79% of total orders in the first quarter of fiscal 2011 and the second quarter of last year, respectively, while U.S. orders were 53% and 21% of total orders in the respective periods. Graham expects an increasing percentage of orders to come from International customers in fiscal 2011 and beyond.

Mr. Lines commented, “We expect order levels in the second half of fiscal 2011 to improve compared with the first half. We have seen improvements in the Middle East, Asia and recently, South America, and the quality and quantity of inquiries we are receiving is measurably improved. Nonetheless, there remains some hesitation by our customers to commit to projects due to uncertainty in the global outlook.”

Graham’s backlog was $83.3 million at September 30, 2010 compared with $89.1 million at June 30, 2010 and $50.5 million at September 30, 2009. At September 30, 2010, there were two orders in backlog with a value of approximately $2.1 million which remained on hold. An order valued at $3.3 million that was previously on hold was re-activated and is now in production. No orders were cancelled during the second quarter of fiscal 2011. Graham believes it is well-positioned to convert existing backlog to meet customer demand.

Approximately 40% of projects in Graham’s backlog as of the end of the second quarter are for refinery projects, 10% for chemical and petrochemical projects and 50% for power and other markets, compared with 55%, 33% and 12%, respectively, at September 30, 2009. Included in Graham’s backlog are several large orders, including the U.S. Navy’s carrier program order, that are not expected to begin to be delivered until late in fiscal 2011 and beyond. Consequently, Graham expects only about 60% to 70% of its current backlog to ship in the next twelve months, as opposed to the 85% to 90% of backlog that would normally ship in a twelve-month period.

Graham is reaffirming its previous revenue guidance for fiscal 2011 in the range of $65 million to $72 million, an improvement of 5% to 15% over fiscal 2010. However, with 32% gross margin year to date, Graham now expects gross margin for fiscal 2011 will be in the range of 28% to 30%, narrowed from its previous estimate of 27% to 31%. The backlog expected to ship during the latter half of the fiscal year was won in a more competitive pricing environment and, therefore, higher volume and improved capacity utilization will be offset by lower margin opportunity. We expect margins in the third quarter of fiscal 2011 to be particularly affected by the competitive pricing environment of late last year.

Estimated SG&A expense for fiscal 2011 has been lowered slightly, to a range of $11.8 to $12.3 million. The expected annual effective tax rate for fiscal 2011 remains between 30% and 33%.

Mr. Lines concluded, “As we have previously mentioned, we expect the second half of this fiscal year will be stronger than the six-months we just completed, although our margins will be pressured coming out of the pricing environment of the last year. We are looking well beyond fiscal 2011, and are focused on winning opportunities in a very rich pipeline. We see the Middle East, Asia and South America as the regions where order activity will likely be strongest during the next business cycle, albeit spotty, as recent fluctuations have demonstrated. In addition, we expect opportunities to surface occasionally in other regions, such as Africa and Canada, which are also showing signs of renewed strength. On the other hand, although the U.S. market, particularly in oil refining, is expected to remain weak for the foreseeable future, we will continue to work with our U.S. customers as we lay the groundwork for an eventual rebound.”

”We have also begun to see more realistic valuations on the acquisition front, as many relatively smaller private companies that are likely acquisition candidates align their expectations with the realities of the downcycle. Our focus is on businesses that provide an opportunity for geographic expansion into stronger markets or product expansion where we can leverage our existing sales channels. In all cases, we are looking for companies with strong management teams offering value-based products that will complement the well-established brand name Graham has built over the last seventy-plus years,” Mr. Lines concluded.

Stock Buyback Program

Graham maintains a stock repurchase program which permits it to repurchase up to one million shares of its common stock through July 29, 2011. Since the initiation of the program in January 2009, Graham has repurchased 351,000 shares at a cost of $3.2 million, including 48,000 shares of common stock repurchased during the second quarter of fiscal 2011 at a cost of $0.7 million.

Webcast and Conference Call

Graham will host a conference call and live webcast today at 11:00 a.m. Eastern Time. During the conference call and webcast, James R. Lines, President and Chief Executive Officer, and Jeffrey F. Glajch, Vice President – Finance & Administration and Chief Financial Officer, will review Graham’s financial condition and operating results for the second quarter of fiscal 2011, as well as Graham’s strategy and outlook. Their review will be accompanied by a slide presentation which will be available on Graham’s Web site at www.graham-mfg.com. A question and answer session will follow the formal discussion.

Graham’s conference call can be accessed by dialing 1-201-689-8560 and requesting conference ID number 358700. The webcast can be monitored on Graham’s Web site at www.graham-mfg.com.

To listen to the archived call, dial 1-858-384-5517, and enter conference ID number 358700. A telephonic replay will be available from 2:00 p.m. Eastern Time on the day of release through November 5, 2010. A transcript will also be available on Graham’s Web site, once available.

ABOUT GRAHAM CORPORATION

With world-renowned engineering expertise in vacuum and heat transfer technology, Graham Corporation is a global designer, manufacturer and supplier of custom-engineered ejectors, pumps, condensers, vacuum systems and heat exchangers. For over 70 years, Graham has built a reputation for top quality, reliable products and high-standards of customer service. Sold either as components or complete system solutions, the principal markets for Graham’s equipment are energy, including oil and gas refining and electrical power generation, chemical/petrochemical and other process industries. In addition, Graham’s equipment can be found in diverse applications, such as metal refining, pulp and paper processing, shipbuilding, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning.

Graham Corporation’s reach spans the globe. Its equipment is installed in facilities from North and South America to Europe, Asia, Africa and the Middle East. Graham routinely posts news and other important information on its website, www.graham-mfg.com, where additional comprehensive information on Graham Corporation can be found.

Safe Harbor Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, statements relating to anticipated revenue, the timing of conversion of backlog to sales, profit margins, foreign sales operations, its ability to improve cost competitiveness, customer preferences, changes in market conditions in the industries in which it operates, changes in general economic conditions and customer behavior, forecasts regarding the timing and scope of the economic recovery in its markets, and its acquisition strategy are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors.”

Should one or more of these risks or uncertainties materialize, or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.

Graham Corporation
Jeffrey Glajch, 585-343-2216
Vice President - Finance and CFO
jglajch@graham-mfg.com
or
Kei Advisors LLC
Deborah K. Pawlowski, 716-843-3908
dpawlowski@keiadvisors.com

Gold Resource Corp. (GORO.OB) Declares Fourth Special Cash Dividend

DENVER, CO–(Marketwire – 10/29/10) – Gold Resource Corporation (GORO) (AMEX:GORO – News) is pleased to announce it has declared its fourth 2010 Special Cash Dividend of $0.03 per common share to its shareholders of record November 12th, payable November 24th, 2010. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico.

Gold Resource Corporation commenced Commercial Production July 1, 2010 from its El Aguila Project’s operations in the southern state of Oaxaca, Mexico. The Company continues to be pleased with the Project’s performance and by using cash flow generated from operations the Board of Directors declared another Special Cash Dividend increasing the year-to-date dividend payment to $0.12.

Gold Resource Corporation’s President, Mr. Jason Reid, stated, “We continue optimizing, ramping up production and zeroing in on our targets at the mill. Though not fully optimized yet, we are pleased with its performance and announce our fourth special cash dividend in as many months.”

About GRC:
Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in five potential high-grade gold and silver properties in Mexico’s southern state of Oaxaca. The company will have 52,998,303 shares outstanding after the close of this transaction, no warrants and no debt. For more information, please visit GRC’s website, located at www.Goldresourcecorp.com and read the Company’s 10-K for an understanding of the risk factors involved.

This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words “plan”, “target”, “anticipate,” “believe,” “estimate,” “intend” and “expect” and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation’s strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company’s actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company’s 10-K filed with the Securities and Exchange Commission.

RADVISION (RVSN) Reports Better Than Forecasted Results for Third Quarter of 2010

Oct. 28, 2010 (Business Wire) — RADVISION® (Nasdaq: RVSN) reported today that revenues for the third quarter of 2010 were $24.5 million, an increase of 20% from $20.4 million in the third quarter of 2009 and above the Company’s forecast.

For the third quarter of 2010, the Company recorded operating income of $0.5 million on a GAAP basis and $1.6 million on a non-GAAP basis, which excludes amortization of purchased intangibles and stock-based compensation expense. For the third quarter of 2009, operating income was $1.4 million on a GAAP basis and $2.5 million on a non-GAAP basis excluding stock-based compensation expense.

Net income for the third quarter of 2010 was $0.3 million, or $0.02 per diluted share. On a non-GAAP basis, net income was $1.6 million, or $0.08 per diluted share. This excludes $0.5 million of expense for amortization of purchased intangibles related to the acquisition of certain assets of Aethra group, $0.6 million for the effects of stock-based compensation expense in accordance with ASC 718 (previously SFAS 123R) and a loss of $0.2 million due to the other than temporary impairment of certain Auction Rate Securities. The total amount excluded for non-GAAP purposes was $1.3 million, equivalent to $0.06 per diluted share.

For the third quarter of 2009, net income was $1.2 million, or $0.06 per diluted share, on a GAAP basis, and $2.5 million, or $0.13 per diluted share, on non-GAAP basis. This excludes stock-based compensation expense of $1.0 million and a loss of $0.3 million due to the other than temporary impairment of certain Auction Rate Securities, with the total of $1.3 million equivalent to $0.07 per diluted share.

For the third quarter of 2010, total revenues consisted of $20.7 million for the Video Business Unit or VBU (formerly the Networking Business Unit or NBU) and $3.9 million for the Technology Business Unit (TBU). This compares with $15.6 million for the VBU and $4.8 million for the TBU reported in the third quarter of 2009.

The Company’s forecast for the third quarter of 2010, presented on August 4, was for revenues of $24.0 million (consisting of VBU revenues of $20.0 million and TBU revenues of $4.0 million), non-GAAP operating income of $0.6 million and non-GAAP net income of $0.5 million or $0.02 per diluted share.

For the first nine months of 2010, revenues were $68.6 million, the operating loss was $4.3 million and the net loss was $4.8 million, or $0.25 per diluted share. This compares with revenues of $58.3 million, operating income of $0.5 million and net income of $0.8 million, or $0.04 per diluted share, in the first nine months of 2009.

On a non-GAAP basis, the Company had operating income of $1.7 million and net income of $1.5 million or $0.07 per diluted share for the first nine months of 2010. This compares with operating income of $3.8 million and net income of $4.6 million or $0.24 per diluted share for the first nine months of 2009. Non-GAAP amounts in the first nine months of 2010 exclude $2.8 million of one-time expenses and $1.3 million of amortization expense related to the acquisition of the Aethra assets, $1.8 million for the effects of stock-based compensation expense and a loss of $0.3 million due to the other than temporary impairment of certain Auction Rate Securities. The total amount excluded for non-GAAP purposes in the first nine of 2010 was $6.2 million, equivalent to $0.32 per diluted share. Non-GAAP amounts in the first nine months of 2009 exclude the effect of stock-based compensation expense of $3.3 million and a loss of $0.6 million due to the write-down of certain Auction Rate Securities, with the total of $3.8 million equivalent to $0.20 per diluted share.

The reconciliation between GAAP net income and Non-GAAP net income is provided in the tables at the end of this release.

The Company ended the third quarter of 2010 with approximately $115.5 million in cash and liquid investments, equivalent to $5.99 per basic share, a decrease of $6.8 million from June 30, 2010. The decrease reflects the use of $7.1 million for a cash self-tender offer for 5% of the company’s shares, completed September 7, 2010, and $0.7 million used for capital expenditures offsetting $1.0 million generated by operating activities and $0.1 million received from the exercise of options.

Boaz Raviv, Chief Executive Officer, commented: “Our third quarter results were better than expected due to the very strong performance of our Video Business Unit. Our VBU revenues grew 32% over the third quarter of 2009, more than overcoming the as-expected 21% step-down in revenues from Cisco.

“Driving our VBU growth was the continued market success of our SCOPIA infrastructure platform, which we continue to advance, combined with our successful introduction of endpoints at the beginning of this year, which has transformed RADVISION into an end-to-end video solution provider.

“Our third quarter revenues from endpoints were double those of the second quarter of 2010 as we benefited from the first full quarter of sales of our SCOPIA XT1000 high definition room conferencing system. When combined with sales of our SCOPIA VC240 all-in-one desktop solution, our total endpoint revenues reached 21% of VBU revenues in the third quarter. Our Technology Business Unit played a critical role in the development of our endpoints.

“Our new position as an end-to-end video solution provider has enabled us to deepen our relationships with current reseller partners as well as expand and diversify our channel in both developed and emerging markets globally.

Mr. Raviv concluded: “The continued execution of our strategy in the third quarter of 2010 produced important and tangible results. This is a time of enormous opportunity in the video market. We remain fully focused on moving quickly to seize it.”

Guidance

The following statements are forward-looking, and actual results may differ materially.

The Company expects to report revenues for the fourth quarter of 2010 of approximately $26.0 million and net income of approximately $1.2 million or $0.06 per diluted share. This includes stock-based compensation expense in accordance with ASC 718 of $0.6 million and amortization of purchased intangible assets of $0.5 million. Excluding these items, non-GAAP net income for the fourth quarter of 2010 is expected to be $2.2 million or $0.12 per diluted share. That compares to revenues in the fourth quarter of 2009 of $22.7 million and a net loss of $1.5 million, or $0.08 per diluted share. This included stock-based compensation expense of $1.0 million, a deferred tax asset write-down of $4.3 million and acquisition-related costs of $0.6 million. Excluding the effect of these items, non-GAAP net income for the fourth quarter of 2009 was $4.4 million, or $0.23 per diluted share. (Full details of the Company’s forecast are available on the Company’s web site at www.radvision.com.)

GAAP versus NON-GAAP Presentation

To supplement the consolidated financial statements presented in accordance with generally accepted accounting principles in the United States (“GAAP”), the Company uses non-GAAP measures of operating results, net income and earnings per share, which are adjusted from results based on GAAP to exclude net profit and loss from other than temporary impairment of available-for-sale marketable securities, the expenses recorded for stock compensation in accordance with ASC 718, amortization of purchased intangibles, acquisition-related costs and acquisition-related restructuring expenses, net. These non-GAAP financial measures are provided to enhance overall understanding of the current financial performance and prospects for the future. Specifically, the Company believes the non-GAAP results provide useful information to both management, and investors as these non-GAAP results exclude other than temporary impairment of available-for-sale marketable securities, the expenses recorded for stock compensation in accordance with ASC 718, amortization of purchased intangibles, acquisition-related costs and acquisition-related restructuring expenses, net that the Company believes are not indicative of the core operating results. Further, these non-GAAP results are one of the primary indicators management uses for assessing the Company’s performance, allocating resources and planning and forecasting future periods. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. These non-GAAP measures may be different from the non-GAAP measures used by other companies.

Third Quarter 2010 Earnings Conference Call/Webcast

RADVISION will hold a conference call to discuss its third quarter 2010 results and fourth quarter outlook, today, Thursday, October 28, at 9:00 a.m. (Eastern). To access the conference call, please dial 1-877-601-3546 (International dialers may call +1-210-839-8500) by 8:45 a.m. (Eastern). The passcode “RADVISION” will be required to access the live conference call. A live webcast of the conference call also will be available on the Company’s website and archived on the site until the next quarter. Simply click on the following link or copy it onto your browser: www.radvision.com/Corporate/Investors/FinancialReports/. A replay of the call will be available beginning approximately one hour after the conclusion of the call through 11:00 p.m. (Eastern) on November 4^th. To access the replay, please dial 1-800-216-3057 (International dialers may call +1-402-220-3763).

The PowerPoint presentation highlighting key financial metrics as well as the fourth quarter 2010 estimate also will be available in the Investor Relations section of the company’s website. The presentation will be available beginning at 8:00 a.m. (Eastern) on October 28^th and will be archived on the website until the end of the third quarter.

About RADVISION

RADVISION (Nasdaq: RVSN) is the industry’s leading provider of market-proven products and technologies for unified visual communications over IP, 3G and IMS networks. With its complete set of standards-based video communications solutions and developer toolkits for voice, video, data and wireless communications, RADVISION is driving the unified communications evolution by combining the power of video, voice, data and wireless – for high definition video conferencing systems, innovative converged mobile services, and highly scalable video-enabled desktop platforms on IP, 3G and emerging next-generation IMS networks. To gain additional insights into our products, technology and opinions, visit blog.radvision.com. For more information about RADVISION, visit www.radvision.com.

This press release contains forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, our ability to integrate the Aethra video assets into our product offerings, general business conditions in the industry, changes in demand for products, the timing and amount or cancellation of orders and other risks detailed from time to time in RADVISION’s filings with the Securities Exchange Commission, including its Annual Report on Form 20-F. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.

(*) Reconciliation of GAAP to Non-GAAP measures (Unaudited)

(*) Reconciliation of GAAP to Non-GAAP measures (Unaudited)

Corporate Contacts:

RADVISION

Adi Sfadia, +1 201-689-6340

Chief Financial Officer

cfo@radvision.com

or

Investor Relations:

Comm-Partners LLC

June Filingeri, +1 203-972-0186

junefil@optonline.net

Arctic Cat (ACAT) Reports Fiscal 2011 Second Quarter Results

Oct. 28, 2010 (Business Wire) — Arctic Cat Inc. (NASDAQ: ACAT) today reported net earnings of $17.8 million, or $0.97 per diluted share, on net sales of $175.8 million for the fiscal 2011 second quarter ended September 30, 2010. Arctic Cat reported net earnings in the prior-year second quarter of $14.8 million, or $0.81 per diluted share, on net sales of $166.3 million.

For the six months ended September 30, 2010, Arctic Cat’s net earnings were $13.3 million, or $0.72 per diluted share, on net sales of $239.2 million. In the first six months of last fiscal year, the company reported net earnings of $8.8 million, or $0.48 per diluted share, on net sales of $235.7 million.

Commented Arctic Cat’s chairman and chief executive officer Christopher A. Twomey: “We are very pleased to report double-digit earnings gains on increased snowmobile and all-terrain vehicle sales in the second quarter. We made further progress on our goal to improve the company’s profitability and strengthen the balance sheet.”

Among the highlights of Arctic Cat’s 2011 second quarter financial results versus the same quarter last year:

• Gross margins improved 200 basis points in the quarter and 350 basis points year to date;
• Operating profit rose 25 percent to $27.4 million from $21.9 million;
• Factory inventory declined 28 percent to $95.9 million from $133.6 million;
• Total cash and short-term investments at quarter end rose to $80.9 million from $11.2 million; and
• The company has no short- or long-term debt.

“Year to date, we have continued to execute against our objectives to improve gross margins, keep operating expenses flat as a percent of sales, while increasing market share and reducing dealer and factory inventory,” said Twomey. “Our improved sales and earnings results in the fiscal 2011 first half demonstrate the traction we are gaining.”

Business Line Results

Snowmobile sales grew 7 percent to $91.5 million in the second quarter compared to $85.7 million in the prior-year quarter, led by higher international sales to distributors. Year-to-date snowmobile sales increased 5 percent to $108.6 million versus $103.7 million in the same period last year.

All-terrain vehicle (ATV) sales rose 9 percent to $56.6 million in the second quarter versus $51.7 million in the prior-year quarter, chiefly driven by sales of the company’s new Prowler HDX utility vehicle. Year to date ATV sales increased 1 percent to $84.5 million compared to $83.9 million in the first six months of fiscal 2010.

Sales of parts, garments and accessories (PG&A) in the second quarter declined 4 percent to $27.6 million versus $28.8 million in the prior-year quarter, primarily due to the timing of shipments. Year to date, PG&A sales totaled $46.1 million compared to $48.1 million in the year-ago period.

Outlook

“We remain on track to deliver improved operating results and increased profitability again this fiscal year,” Twomey said. “Longer-term, Arctic Cat continues to be well-positioned for further growth when the retail power sports market recovers.”

Arctic Cat is focused on improving its profitability in a continued low-demand recreational vehicle market. The company’s fiscal 2011 outlook includes the following assumptions: ATV industry retail sales declining approximately 15 to 20 percent; snowmobile industry retail sales in a range of up or down approximately 5 percent; Arctic Cat dealer inventories declining 20 to 30 percent; improving gross margins between 200 to 300 basis points; achieving flat operating expense levels as a percent of sales; increasing cash flow from operations; and ending the year with more cash on the balance sheet.

Based on its year-to-date results and expectations of future performance, Arctic Cat is raising its full-year sales and earnings guidance for the current fiscal year ending March 31, 2011. Arctic Cat now estimates fiscal 2011 net sales in the range of $453 million to $463 million. The company now anticipates that fiscal 2011 earnings will be in the range of $0.40 to $0.55 per diluted share, driven by increased international revenue, as well as increased gross margins resulting from favorable commodity costs and lower sales incentives than planned. The company’s previous guidance anticipated fiscal 2011 earnings of $0.18 to $0.33 per diluted share on net sales of $447 million to $460 million.

Conference Call

A conference call is scheduled for 10:30 a.m. CT (11:30 a.m. ET) today. To listen to the live webcast or replay of this call via the Internet, go to the corporate portion of the company’s website at www.arcticcat.com. To listen to a telephone replay of the conference call, dial 800-406-7325 and enter conference call passcode 4379096. The telephone replay will be available through Wednesday, November 3, 2010.

About Arctic Cat

Arctic Cat Inc. designs, engineers, manufactures and markets all-terrain vehicles (ATVs) and snowmobiles under the Arctic Cat® brand name, as well as related parts, garments and accessories. Its common stock is traded on the Nasdaq Global Select Market under the ticker symbol “ACAT.” More information about Arctic Cat and its products is available at www.arcticcat.com.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for certain forward-looking statements. The Company’s Annual Report, as well as the Report on Form 10-K and future filings with the Securities and Exchange Commission, the Company’s press releases and oral statements made with the approval of an authorized executive officer, contain forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. The words “aim,” “believe,” “expect,” “anticipate,” “intend,” “estimate” and other expressions that indicate future events and trends identify forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending on a variety of factors, including, but not limited to: product mix and volume; competitive pressure on sales and pricing; cost and availability of financing for the Company, our dealers and our suppliers; increase in material or production cost which cannot be recouped in product pricing; changes in the sourcing of snowmobile engines from Suzuki; warranty expenses; foreign currency exchange rate fluctuations; product liability claims and other legal proceedings in excess of insured amounts; environmental and product safety regulatory activity; effects of the weather; overall economic conditions; and consumer demand and confidence. The Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Note to Editors: In a separate news release, Arctic Cat today announced its leadership succession plans.

Arctic Cat Inc.

Timothy C. Delmore, 763-354-18001

Chief Financial Officer

or

Padilla Speer Beardsley Inc.

Shawn Brumbaugh, 612-455-1754

Chart Industries (GTLS) Reports 2010 Third Quarter Results

CLEVELAND, Oct. 28, 2010 (GLOBE NEWSWIRE) — Chart Industries, Inc. (Nasdaq:GTLS), a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases, today reported results for the third quarter ended September 30, 2010. Highlights include:

• Strongest quarterly order intake in two years
• Earnings guidance revised upward
• Energy & Chemicals margin performance improves over 1^st half 2010
• Completed acquisition of Cryotech International

Net income for the third quarter of 2010 was $6.6 million, or $0.23 per diluted share. This compares with $8.2 million, or $0.28 per diluted share, for the third quarter of 2009. The third quarter of 2010 included $1.5 million or $0.04 per diluted share, of restructuring costs associated with the announced shutdown of the Plainfield, Indiana facility acquired from Covidien and acquisition related costs associated with the Cryotech acquisition. The third quarter of 2009 also included restructuring costs of $1.2 million, or $0.03 per diluted share, primarily related to planned workforce reductions as part of the Company’s cost reduction initiatives.

Third quarter 2010 earnings would have been $0.27 per diluted share excluding the $0.04 per share of restructuring and acquisition related costs. Third quarter of 2009 earnings would have been $0.31 per diluted share excluding the $0.03 per share of restructuring costs in that period.

Net sales for the third quarter of 2010 increased 8% to $139.2 million from $128.8 million in the comparable period a year ago. Gross profit for the third quarter of 2010 was $42.8 million, or 30.7% of sales, versus $39.4 million, or 30.6% of sales, in the comparable quarter of 2009.

Backlog at September 30, 2010 was $212.6 million, up 6% from the June 30, 2010 level of $199.9 million. Orders for the third quarter of 2010 were $146.8 million compared with second quarter 2010 orders of $136.2 million.

“Our financial results for the quarter reflect the improving global market we’re seeing for all of our business segments,” stated Sam Thomas, Chart’s Chairman, President and Chief Executive Officer. “Our strong order intake included equipment for LNG ‘virtual pipeline’ and LNG vehicle fueling projects as this part of our business continues to grow. We are excited about the potential for a range of new LNG opportunities including marine and mining applications, resulting from the push for new sources of cleaner and lower cost energy.”

During the third quarter, the Company announced the acquisition of the Cryotech International business. Cryotech designs, manufactures, sells and services cryogenic injectors, vacuum insulated piping systems, and manifolds, and also repairs liquid cylinders. Cryotech sells its products globally and industry applications include food and beverage packaging, aerospace and defense, semiconductor, pharmaceutical, biotechnology, solar and electronics. Combining Cryotech’s direct to end user sales and existing sales and service capability with Chart’s sales and distribution network should drive incremental sales volume.

“Our liquidity and strong balance sheet position us for accretive growth opportunities such as Cryotech as well as future acquisitions,” stated Mr. Thomas. “We will continue to seek high growth opportunities, including new product applications, as we continue to expand our business. We are excited about Chart being named as a participant in a recent U.S. Department of Energy project award to help develop and test membrane reactors to improve the efficiency of hydrogen production from coal-derived synthesis gas utilizing our core braze manufacturing, plus heat and mass transfer process expertise. This technology has broad application potential to improve the efficiency and cost in the area of hydrogen production, gas to liquids production for stranded natural gas monetization, petrochemical feedstock production from coal in the U.S., China and India, and ultimately production of biofuels.”

Selling, general and administrative (“SG&A”) expenses for the third quarter of 2010 compared to the same period in 2009, increased $5.4 million to $26.2 million. This was primarily due to higher employee-related costs and sales commissions due to acquisitions and improving business conditions.

Income tax expense was $2.3 million for the third quarter of 2010 and represented an effective tax rate of 25.4% compared with $3.5 million in the prior year quarter, or an effective tax rate of 29.9%. The decline in the third quarter 2010 effective tax rate was primarily due to a decrease in domestic earnings, which are taxed at a higher rate than our foreign earnings.

Cash and short-term investments were $208.6 million at September 30, 2010, which is approximately $20 million higher than balances at June 30, 2010 due to strong operating cash flow.

SEGMENT HIGHLIGHTS

Energy & Chemicals (“E&C”) segment sales declined 23% to $38.2 million for the third quarter of 2010 compared with $49.7 million for the same quarter in the prior year as we completed several large higher margin projects during 2009. As expected, E&C gross profit margin declined in the 2010 quarter to 23.4% compared with 29.1% in the same quarter in 2009. However, third quarter margins did improve by about 4% from the first half of 2010 due to several expedited orders in our brazed aluminum heat exchanger product line. In addition, margins are beginning to improve in the systems product line as we ramp up production on several projects.

Distribution and Storage (“D&S”) segment sales increased by 14% to $65.0 million for the third quarter of 2010, compared with $57.1 million for the same quarter in the prior year. The increase in sales was largely due to improved volume in China and in packaged gas systems in the U.S. as well as the recently completed Cryotech acquisition. D&S gross profit margin improved to 30.2% in the quarter compared with 27.7% a year ago largely due to improved volume and mix.

BioMedical segment sales improved 64% to $36.0 million for the third quarter of 2010, compared with $21.9 million for the same quarter in the prior year. The increase was largely due to the acquisition of Covidien’s oxygen therapy business, which closed in fourth quarter 2009. BioMedical gross profit margin declined to 39.5% compared with 41.4% for the same period in 2009 largely due to a stronger euro in the 2009 period. Restructuring charges associated with the announced Plainfield, Indiana facility shutdown during 2010 and the Denver, Colorado facility shutdown during 2009 impacted margins in both periods by about 2%.

OUTLOOK

We continue to see an improving global market in all of our business segments. Bid activity remains very strong, especially in our E&C business, as demonstrated by a $22 million order received by the E&C Systems business for a natural gas liquids project in the Middle East during October 2010, which will be reflected in fourth quarter orders.

Based on year to date results, current order backlog, and business expectations, the Company is revising upward its full year earnings guidance. Sales for 2010 are expected to be in the range of $540 to $555 million, which is within the upper end of the previously provided sales range of $530 to $560 million. Diluted earnings per share are now expected to be in a range of $0.60 to $0.70 per share due to improving margin performance, as compared with the Company’s prior guidance of $0.40 to $0.60 per diluted share, based on approximately 29.2 million weighted average shares outstanding. This revised guidance includes the impact of approximately $0.15 per diluted share for restructuring and acquisition related costs, as well as the write-off of deferred financing costs associated with the refinancing of our Senior Credit Facility. Excluding these charges, full year 2010 earnings would be expected to fall in a range of $0.75 to $0.85 per share.

FORWARD-LOOKING STATEMENTS

Certain statements made in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the Company’s plans, objectives, future orders, revenues, earnings or performance, liquidity and cash flow, capital expenditures, business trends, and other information that is not historical in nature. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance”, “continue,” or the negative of such terms or comparable terminology. Forward-looking statements contained in this news release or in other statements made by the Company are made based on management’s expectations and beliefs concerning future events impacting the Company and are subject to uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control, that could cause the Company’s actual results to differ materially from those matters expressed or implied by forward-looking statements. These factors and uncertainties include, among others, the following: the cyclicality of the markets that the Company serves and the vulnerability of those markets to downturns; the negative impacts of the recent global economic and financial crisis; a delay, significant reduction in or loss of purchases by large customers; fluctuations in energy prices and changes in government energy policy; competition, including enhanced competitive pressures resulting from the economic downturn; our reliance on key suppliers and potential supplier failures or defects; the modification or cancellation of orders in our backlog; the impact of the financial distress of third parties; changes in government healthcare regulations and reimbursement policies; general economic, political, business and market risks associated with the Company’s global operations; fluctuations in foreign currency exchange and interest rates; the Company’s ability to successfully manage its costs and growth, including its ability to successfully manage operational expansions and the challenges associated with efforts to acquire and integrate new product lines or businesses; the loss of key employees and deterioration of employee relations; the pricing and availability of raw materials; the Company’s ability to manage its fixed-price contract exposure; the regulation of our products by the U.S. Food & Drug Administration and other governmental authorities; potential future charges to income associated with potential impairment of the Company’s significant goodwill and other intangibles; the cost of compliance with environmental, health and safety laws; additional liabilities related to taxes; the impact of hurricanes and other severe weather; litigation and disputes involving the Company, including product liability, contract, warranty, pension, intellectual property and employment claims; and volatility and fluctuations in the price of the Company’s stock. For a discussion of these and additional factors that could cause actual results to differ from those described in the forward-looking statements, see the Company’s filings with the Securities and Exchange Commission, including Item 1A (Risk Factors) in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement.

Chart is a leading global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases. The majority of Chart’s products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end-use applications, the largest portion of which are energy-related. Chart has domestic operations located across the United States and an international presence in Asia, Australia and Europe. For more information, visit: http://www.chart-ind.com.

As previously announced, the Company will discuss its third quarter 2010 results on a conference call on Thursday, October 28, 2010 at 10:30 a.m. ET. Participants may join the conference call by dialing (877) 407-4134 in the U.S. or (201) 689-8430 from outside the U.S. A live webcast presentation will also be accessible at 10:30 a.m. ET at http://www.chart-ind.com. Please log-in or dial-in at least five minutes prior to the start time.

A taped replay of the conference call will be archived on the Company’s website, www.chart-ind.com, approximately one hour after the call concludes. You may also listen to a taped replay of the conference call by dialing (877) 660-6853 in the U.S. or (201) 612-7415 outside the U.S. and entering Account Code 356 and Pass Code 358267. The telephone replay will be available beginning approximately one hour after the end of the call until 11:59 p.m. ET, Wednesday, November 10, 2010.

For more information, click here: http://www.b2i.us/irpass.asp?BzID=1444&to=ea&Nav=0&S=0&L=1