Archive for November, 2010

Dreams (DRJ) Sets Record on Cyber Monday

Nov. 30, 2010 (Business Wire) — Dreams, Inc. (NYSE Amex: DRJ), through its Internet Division, received $2.5 million in on-line orders on Monday, November 29, 2010, up 78.5%, versus $1.4 million in orders received last year on *Cyber Monday. This is an all-time, single day record.

“The dedication and commitment to excellence displayed throughout the year by the entire eCommerce team has positioned our Company to enjoy these record results,” observed Kevin Bates, www.FansEdge.com founder and president of Dreams Retail.

*The name given by online retailers and e-commerce experts to the Monday following the Thanksgiving holiday. With its Black Friday counterpart in actual store-based traffic, analysts have pointed to significant spikes in online shopping on Cyber Monday. Coined in 2005, Cyber Monday was fueled by promotions such as free gifts and free shipping as well as by the faster Internet connections many people had at work.

DREAMS, INC. trades under the ticker symbol: NYSE Amex: DRJ

www.DreamsCorp.com

www.FansEdge.com

Statements contained in this press release, which are not historical facts, are forward looking statements. The forward-looking statements in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such statements are indicated by words or phrases such as “anticipates,” “projects,” “management believes,” “Dreams believes,” “intends,” “expects,” and similar words or phrases. Such factors include, among others, the following: competition; seasonality; success of operating initiatives; new product development and introduction schedules; acceptance of new product offerings; franchise sales; advertising and promotional efforts; adverse publicity; expansion of the franchise chain; availability, locations and terms of sites for franchise development; changes in business strategy or development plans; availability and terms of capital including the continuing availability of our credit facility with Regions Bank or a similar facility with another financial institution; labor and employee benefit costs; changes in government regulations; and other factors particular to the Company.

Dreams, Inc.

Investor Relations :

David M. Greene, Senior Vice-President, 954-377-0002

Fax: 954-475-8785

dgreene@dreamscorp.com

or

Public Relations:

Boardroom Communications

Jennifer Clarin and/or Caren Berg, 954-370-8999

Fax: 954-370-8892

cberg@boardroompr.com

Tuesday, November 30th, 2010 Uncategorized Comments Off on Dreams (DRJ) Sets Record on Cyber Monday

Brigus Gold (BRD) Reports Positive Exploration Drilling Results at Black Fox Complex

Nov. 30, 2010 (Business Wire) — Brigus Gold Corp. (“Brigus Gold” or the “Company”) (NYSE Amex: BRD)(TSX: BRD) has received assay results from 12 drill holes totalling 5,327 metres as part of an ongoing exploration program at the Company’s 100% owned Black Fox Complex located in the Timmins Mining District, Ontario. The current exploration program continues to return positive results and is designed to expand the Black Fox Complex gold resource by systematically drilling mineralized structures. Highlights from returned assay results include (all uncut, average gold grades with estimated true widths, unless otherwise noted):

Contact Zone

  • GF10-90:
    • 14.92 grams of gold per tonne over 2.41 metres and
    • 14.88 grams of gold per tonne over 3.58 metres
  • GF10-94:
    • 7.05 grams of gold per tonne over 6.34 metres
      • including 10.22 grams of gold per tonne over 3.62 metres
    • 25.78 grams of gold per tonne over 1.13 metres and
    • 10.47 grams of gold per tonne over 2.11 metres
  • GF10-98:
    • 2.03 grams of gold per tonne over 4.26 metres and
    • 3.68 grams of gold per tonne over 8.89 metres
      • including 6.67 grams of gold per tonne over 3.17 metres

Gibson Shear

  • Hole GF10-88:
    • 5.45 grams of gold per tonne over core length 3.0 metres
  • Hole GF10-92 :
    • 2.02 grams of gold per tonne over core length 41.8 metres
      • including 4.04 grams of gold per tonne over core length 12.0 metres

The exploration program is following up on historical data and drill results while also testing new gold occurrences within the Black Fox Complex. Three rigs are in the process of drilling at least six exploration targets at the Black Fox Complex including: the Contact Zone, the Historic Gibson Deposit, the Gibson Shear, the School House Zone and the Hislop North Zone. All targets are located within four kilometres of the Company’s operating Black Fox Mine, providing the opportunity for rapid advancement. A fourth drill rig is drilling deep exploration targets at the Black Fox Mine.

Howard Bird, Vice President of Exploration for Brigus Gold, said, “These drill results continue to expand the gold mineralization at the Contact Zone. We are also very encouraged by additional positive results at the Gibson Shear target, located approximately 500 metres west of the Contact Zone. Our exploration goal during 2011 and 2012 is to significantly expand the gold resources at the Black Fox Complex while pursuing new target areas. There is considerable near-term exploration potential at the Contact and Gibson Shear zones, as well as at the Black Fox Mine where the ore body remains open down-dip, both at depth and along strike.”

Contact Zone

The Contact Zone consists of a steeply dipping mineralized fault contact between the north-south trending metasediments and mafic volcanic rocks, and two other parallel mineralized zones. The Contact Zone extends for at least 1,200 metres (“m”) and is open along strike and at depth. The general dip of the feature is 78 degrees to the east with horizontal widths varying from 3.5 m to 35 m. During the 2008 and 2009 drill program, most of the 65 drill holes completed were concentrated within a strike length of approximately 400 m and tested to an approximate depth of 120 m from surface. During 2010, the Contact Zone drill program has concentrated on testing continuity of the gold mineralization below (down dip) and along strike of the 2008 and 2009 drill holes.

In light of recent encouraging high-grade drill results from the Contact Zone, Brigus has expanded the drill program in this area to increase the size of the mineralized zone. Assay results from the most recent six holes from the Contact Zone trend were positive and consistent with past results from the Contact Zone. A previously planned initial gold mineral resource estimate for the Contact Zone has been postponed until completion of the expanded drill program.

Drilling along strike and below the 65 drill holes from the 2008 and 2009 exploration program has confirmed good down dip continuity of significant gold mineralization.

GF10-90, highlighted above ,which followed up on GF 09-66 drilled by Brigus in 2009 and historic hole PR975-28, intersected a mineralized zone approximately 140 m from surface and 50 m down dip of GF09-66 while PR95-28 intersected the same zone approximately 75 m down dip of GF10-90. High interest assays from hole GF09-66 returned 3.37 grams per tonne (“gpt”) gold over true width 6.39 m including 11.14 gpt gold over true width 1.42 m, and from historic hole PR95-28 assays returned 3.74 gpt gold over true width 7.55 m including 7.47 gpt gold over true width 2.22 m.

GF10-94, highlighted above, intersected mineralization approximately 190 m from surface and 75 m down dip of GF09-25. Hole GF09-25 intersected the zone approximately 120 m from surface and GF09-29 intersected the zone approximately 50 m from surface. High interest assays from hole GF09-25 returned 2.17 gpt gold over true width 2.43 m, including 5.69 gpt over true width 0.81 m, and GF09-29 returned 5.31 gpt over true width 3.24 m, including 8.57 gpt over true width 0.81 m.

GF10-98, highlighted above, intersected the mineralized zone approximately 160 m from surface and 60 m down dip of GF09-64 and GF09-65. Holes GF09-64 and GF09-65 both intersected the zone approximately 80 m from surface. High interest assays from hole GF09-64 returned 3.03 gpt gold over true width 4.27 m, including 8.57 gpt gold over true width 0.78 m, and GF09-65 returned 19.37 gpt gold over true width 4.21 m, including 85.99 gpt gold over true width 0.76 m.

Assay results over 2.0 gpt gold are listed in a table in Appendix 1 of this news release and posted on the Company’s website at www.brigusgold.com.

Gibson Shear (“GS”)

Drilling results from the Gibson Shear target continue to demonstrate encouraging results with five out of six holes intercepting average gold grades over 2.0 gpt. The best hole, GF10-92, highlighted above, was drilled on the southern portion of the Gibson Shear (Gibson South) and returned 2.02 gpt gold over core length 41.8 m, including 4.04 gpt gold over 12.0 m. GF10-92 was drilled 55 m to the northwest of GF10-73, which returned 2.11 gpt gold over core length 22.94 m. Further drilling is underway; a shallow drill hole is currently in progress in order to determine the extent of mineralization closer to surface and to better define the dip of the mineralized zone.

Geophysical Programs

Brigus Gold has received the final airborne magnetic geophysical survey data results from the Black Fox Complex, which distinctly define the key gold-bearing Contact Zone and Gibson Shear linear structures, as well as numerous similar looking untested linear structures. In addition, a Quantec Titan 24 Deep IP ground based geophysical program was recently completed at the Black Fox Complex with 22 lines (each line spaced 200 m apart) surveyed. The Titan system detects conductive mineralization, disseminated mineralization, alteration, structure and geology resulting in the identification of prospective drill targets. Final survey results are expected later this quarter.

Surface drilling was conducted by Norex Drilling and was supervised by the Black Fox exploration staff. All 2010 sample analyses reported herein were performed by Polymet Labs of Cobalt, Ontario, which is ISO 9001:2000 certified in North America, and by SGS Laboratories of Sudbury, Ontario, using standard fire assay procedures. Intercepts cited do not necessarily represent true widths, unless otherwise noted. Brigus Gold’s quality control checks include insertion of blanks and standards to ensure laboratory accuracy.

Senior Exploration Project Manager John A. Dixon P. Geo reviewed the technical exploration information in this release as the Qualified Person for the Company.

About Brigus Gold

Brigus Gold is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The company operates the wholly owned Black Fox Mine and Mill in the Timmins Gold District of Ontario, Canada. The Black Fox Complex encompasses the Black Fox Mine and adjoining properties in the Township of Black River-Matheson, Ontario, Canada. Brigus Gold is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus Gold holds a 100 percent interest in the Ixhuatan Project located in the state of Chiapas, and an 80 percent interest in the Huizopa Joint Venture, an early stage, gold-silver exploration project located in the State of Chihuahua. In the Dominican Republic, Brigus Gold has a joint venture covering three mineral exploration projects.

Cautionary Note to U.S. Investors Concerning Estimates of Mineral Resources

This news release uses the term mineral “resources”. The Company advises U.S. investors that while these terms are defined in and required by Canadian regulations, these terms are not defined terms under the U.S. Securities and Exchange Commission (“SEC”) Industry Guide 7 and are generally not permitted to be used in reports and registration statements filed with the SEC. The SEC generally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.

Cautionary and Forward-Looking Statements

This news release includes “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements regarding the resource potential, resource addition or expansion, continuity of mineralization, plans for the Company’s surface and underground exploration drilling programs and the results associated therewith, the amount of surface drilling, the drill rigs operating at Black Fox Complex and the timing associated therewith, increase of Black Fox resources, matters relating to the geophysical survey of the Black Fox Complex and the timing thereof, release date of a National Instrument 43-101-compliant mineral resource estimate for the Contact Zone, and additions to resources in 2011 and 2012 are forward-looking statements and estimates that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from these forward-looking statements include environmental risks and other factors disclosed under the heading “Risk Factors” in Brigus Gold’s and its predecessor companies’ most recent annual report on Form 10-K filed with the United States Securities and Exchange Commission and elsewhere in Brigus Gold’s documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex, the United States Securities and Exchange Commission and other regulatory authorities. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

Brigus Gold Corp.

Wendy Yang, Vice President of Investor Relations

303-524-3203

ir@brigusgold.com

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Alexco (AXU) Discovers Extension of Bellekeno Deposit, Further Underground Drilling Planned

VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 11/30/10 — Alexco Resource Corp. (TSX: AXR)(NYSE Amex: AXU) (“Alexco” or the “Company”) is pleased to announce that step-out surface exploration drilling conducted to the southwest of the newly commissioned Bellekeno Mine has successfully located high grade lead-silver mineralization approximately 130 meters down plunge from the existing Bellekeno resource. The Bellekeno deep drilling program was completed as part of Alexco’s planned 2010 25,000 meter drilling program in the Keno Hill Silver District in Canada’s Yukon Territory. The one drill hole for which assay results have been received targeted the silver rich “48” vein at depth and within a stratigraphic sequence not previously tested at Bellekeno. For these reasons, the Company attaches considerable significance to this new discovery.

Highlights

Complete assay results have been received from one of two holes drilled down plunge from the Bellekeno resource area. Results include the following:

--  DDH K10-260 cut an interval grading: 2,729.0 grams per tonne silver
    (79.6 ounces per ton), 0.472 grams per tonne gold, 52.16% lead and 6.29%
    zinc over 0.40 meters from 508.15 to 508.55 meters within a wider
    interval grading 690.1 grams per tonne silver (20.1 ounces per ton),
    0.303 grams per tonne gold, 13.56% lead and 9.62% zinc over 1.91 meters
    from 508.15 to 510.06 meters.

2010 Bellekeno Surface Drilling – Deep Southwest Target

The 2010 Bellekeno deep drilling program focused on a distal but broad target developed in an untested stratigraphic zone with suspected structural conditions similar to that hosting silver-lead-zinc mineralization within the Bellekeno deposit. The successful hole penetrated the “48” vein approximately 130 meters down plunge from the southernmost zone of the existing resource. A companion hole to K10-260 has been recently completed to accurately ascertain the strike and dip of the newly discovered extension of the “48” vein. Assay results are not yet available for this hole.

Results from the deep surface drilling are currently being used to guide approximately 160 meters of underground development off the “800 level” (deepest active level in the existing mine). This new development will serve as a drill platform for close spaced definition drilling and, if warranted, calculation of additional resource in the area of the new discovery. The current resource at the Bellekeno Mine stands at 401,000 tonnes grading 921 grams silver, 9.4% lead and 6.5% zinc as outlined in 2009 (see news release dated November 11, 2009 entitled “Alexco Completes Positive Bellekeno Mine Development Plan, Silver Wheaton Concurs – Initiation of Construction Approved”).

2010 Bellekeno Surface Drilling – 99 Zone “Up Plunge” Target

A separate phase of surface exploration drilling at Bellekeno, designed to test the “up plunge” extension of the existing resource in the area of the 99 Zone, was also completed. This program, located approximately 800 meters northeast of the deep southwest target, consisted of three shallow drill holes all of which intersected the “48” and “50” veins where anticipated. Mineralization consisted mainly of oxidized siderite with local sub-ore grade silver intercepts.

The surface drill programs at Bellekeno complement an ongoing 5,000 meter underground exploration drill program testing potential down dip extensions of the 99 and Southwest resource zones. Results from this work will be used to update the current resource estimate planned for the second quarter of calendar 2011.

A composite table listing those 2010 Bellekeno surface drill holes having complete assay results is available for review along with a long section showing drill hole pierce points on the “48” vein on the Company website at www.alexcoresource.com.

Notes

True widths have not yet been determined for the above reported drill intercepts.

The 2010 exploration drill program and sampling protocol has been reviewed, verified and compiled by Alexco’s geologic staff under the oversight of Stan Dodd, Vice President, Exploration for Alexco and a Qualified Person as defined by NI 43-101. A rigorous quality control and quality assurance protocol is used on the project, including blank, duplicate and standard reference samples in each batch of 20 samples that were delivered to the lab. Drill core samples were shipped to either Agat Labs or ALS Minerals Labs at Whitehorse, Yukon Territory for preparation, with fire assay and multi-element ICP analyses done at either Agat Labs facility at Mississauga, Ontario or ALS Minerals facility in North Vancouver, British Columbia. The scientific and technical information about Alexco’s mineral projects contained in this news release has also been reviewed and verified by Mr. Dodd.

Continued 2010 District Exploration

Alexco continues exploration work within the Keno Hill district with ongoing surface core drilling at the historical Husky mine area. Core drilling programs for 2010 have been completed in the areas of the historical Lucky Queen, Silver King, Onek, Galkeno and Bermingham mines and the Flame & Moth prospect located adjacent to the new Bellekeno mill. A reverse circulation drill program in the McQuesten Valley, designed mainly to capture stratigraphic information, was also completed earlier this month.

Keno Hill Silver District History

Between 1921 and 1988, the Keno Hill Silver District produced more than 217 million ounces of silver with average grades of 40.5 ounces per ton silver, 5.6% lead and 3.1% zinc (Yukon Government’s Minfile database). The historical production grades would rank Keno Hill in the top 3% by grade of today’s global silver producers. The Keno Hill district is the second-largest historical silver producer in Canada.

About Alexco

Alexco’s business is to unlock value and manage risk at mature, closed or abandoned mine sites through integration and implementation of the Company’s core competencies which include management of environmental services, execution of mine reclamation and closure operations and if appropriate, rejuvenation of exploration and development of new mining opportunities.

Some statements in this news release contain forward-looking information concerning the Company’s anticipated results and developments in the Company’s operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future, made as of the date of this press release. Forward-looking statements may include, but are not limited to, statements with respect to future remediation and reclamation activities, future mineral exploration, the estimation of mineral reserves and mineral resources, the realization of mineral reserve and mineral resource estimates, the timing of activities and the amount of estimated revenues and expenses, the success of exploration activities, permitting time lines, requirements for additional capital and sources and uses of funds. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of remediation and reclamation activities; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, silver and other commodities; possible variations in ore bodies, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development activities.

Contacts:
Alexco Resource Corp.
Clynton R. Nauman
President and Chief Executive Officer
604-633-4888
604-633-4887 (FAX)
info@alexcoresource.com
www.alexcoresource.com

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Etisalat Lanka Expands IP Interconnects with Acme Packet (APKT)

Nov. 30, 2010 (Business Wire) — Acme Packet® (NASDAQ: APKT), the leader in session border control solutions, today announced that Etisalat Lanka, a wholly-owned subsidiary of the United Arab Emirates-based Etisalat Telecommunications Corporation, is deploying Acme Packet Net-Net® session border controllers (SBCs) to support its IP interconnects for international calls. Etisalat Lanka uses IP interconnects to enhance international voice traffic and selected Acme Packet to secure and optimize those connections for expansion. The deployment of SBCs also complements Etisalat Lanka’s migration to all-IP networks for lower total cost of ownership and the delivery of new services.

“Acme Packet provides Etisalat Lanka with the means to securely and efficiently grow our IP interconnects so we can maximize revenue,” said Mr. Sanath Pilapitiya, CTO of Etisalat Lanka. “With the Net-Net SBCs we have the industry’s leading security and control functions for our international VoIP traffic.”

Etisalat Lanka selected Acme Packet’s Net-Net 3820 Session Director to improve revenue from international calls by increasing call completion rates and providing fault tolerance and resiliency for the network by detecting and routing around network failures. The Net-Net SBC SIP header manipulation feature enables wider interoperability and expedites time to market. Call detail records and quality of service (QoS) monitoring provide real-time information on quality of calls in the network for reporting, planning and settlement.

With Acme Packet’s policy-based routing features, Etisalat Lanka has the flexibility to implement QoS-based and codec-based routing to further optimize the network in the future.

“Mobile service providers are making the transition to IP interconnects to drive down costs and prepare for the all-IP future,” said Mr. Sumant Sharma, managing director, Asia Pacific region for Acme Packet. “Etisalat Lanka is an early mover in this regard and uses Acme Packet’s rich feature set to optimize its IP interconnections.”

The Net-Net SBCs were installed by MillenniumESP, an Acme Packet channel and integration partner in Sri Lanka. MillenniumESP pioneered the deployment of SBCs in Sri Lanka and has been a leading solutions provider for service providers in the areas of voice over IP, core networks, security and data center technologies.

“We are pleased that Etisalat Lanka chose MillenniumESP to provide for their next generation IP interconnect needs,” said Mr. Faiq Faaiz, executive vice president, MillenniumIT. “I am confident that Etisalat Lanka will benefit immensely from the vast experience of MillenniumESP in the area of session border controllers in providing future next generation network services.”

About Acme Packet

Acme Packet (NASDAQ: APKT), the leader in session border control solutions, enables the delivery of trusted, first-class interactive communications—voice, video and multimedia sessions—and data services across IP network borders. Our Net-Net family of session border controllers, multiservice security gateways and session routing proxies supports multiple applications in service provider, enterprise and contact center networks—from VoIP trunking to hosted enterprise and residential services to fixed-mobile convergence. They satisfy critical security, service assurance and regulatory requirements in wireline, cable and wireless networks; and support multiple protocols—SIP, H.323, MGCP/NCS, H.248 and RTSP—and multiple border points—service provider access and interconnect, and enterprise access and trunking. Over 10,000 Acme Packet systems have been deployed by more than 1,180 customers in 105 countries. They include 92 of the top 100 service providers in the world and 11 of the Fortune 25. For more information, contact us at +1 781.328.4400, or visit www.acmepacket.com.

About Etisalat Lanka

100% owned subsidiary of Etisalat UAE, who is the world’s 13th largest telco operator with subscribers exceeding 107 million worldwide. Etisalat UAE is on a very sound financial footing with S&P recently upgrading their rating to AA-/A-1+ and Fitch reaffirming their rating to A+.

With the entry of Etisalat into Sri Lanka and re-branding of the Sri Lankan operation as Etisalat in February 2010, the name Etisalat has become a household name in the Sri Lankan market. The local company, Etisalat Lanka with the support and guidance of the giant parent telco of UAE is making in-roads into the telco market shares in Sri Lanka. Locally one of the most efficient and dynamic operators, Etisalat Lanka will continue to grow in strength whilst contributing to the economic growth of the country too.

About MillenniumESP

Part of the London Stock Exchange Group, MillenniumESP, the enterprise and service provider business of MillenniumIT, is a leading Sri Lankan information technology solutions provider, specialising in IT solutions for the financial and telecom industries. MillenniumESP also offers information technology infrastructure and consulting services.

MillenniumIT is a premier technology solutions provider serving the global capital markets industry. The company’s products currently powers exchanges, depositories, brokerages and regulatory bodies in the United States, Europe, Africa and the Asia-Pacific region.

For more information, please visit www.millenniumit.com

Acme Packet, Inc. Safe Harbor Statement

Statements contained herein that are not historical fact may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may relate, among other things, to our position in the session border control market, our expected financial and operating results, our ability to establish and maintain intellectual property rights, our ability to build and grow Acme Packet, the benefits and advantages of our products, including any enhancements or new features, services and programs, and our ability to achieve our goals, plans and objectives. Such forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from those anticipated. These include, but are not limited to: difficulties in growing our customer base, difficulties leveraging market opportunities, difficulties providing solutions that meet the needs of customers, poor product sales, long sales cycles, difficulty developing new products, difficulty in relationships with vendors and partners, higher risk in international operations, difficulty managing rapid growth, and increased competition. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in our recent filings with the Securities and Exchange Commission, including those factors discussed under the caption “Risk Factors” in such filings.

Media Contact:

CHEN PR

Ramya Kumaraswamy, +1 781-672-3147

rkumaraswarmy@chenpr.com

or

Investor Relations:

Acme Packet

Brian Norris, +1 781-328-4790

bnorris@acmepacket.com

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Icagen (ICGN) and Pfizer Select Compound for Advancement in Nav1.7 Program

RESEARCH TRIANGLE PARK, N.C., Nov. 30, 2010 (GLOBE NEWSWIRE) — Icagen, Inc. (Nasdaq:ICGN) today provided an update on its sodium channel program for pain and related disorders which is being conducted in collaboration with Pfizer. As previously reported, the companies recently conducted a clinical study in healthy volunteers of several collaboration compounds targeting the sodium ion channel Nav1.7.  Based upon data obtained in this study, the companies have now selected one of these compounds to advance into further clinical studies. The selection of this compound has triggered a milestone payment to Icagen of $1.0 million.

P. Kay Wagoner, CEO of Icagen, stated, “We are very pleased that, in collaboration with Pfizer, we have now selected a novel compound for further clinical development in our Nav1.7 program.  This marks an important achievement, as we believe, based upon a wide range of genetic and scientific evidence, that subtype selective sodium channel blockers represent a promising approach for the treatment of pain and related disorders. In achieving this milestone, we feel fortunate to be working with one of the world’s leading pain research groups at Pfizer.”

As previously noted, Pfizer and Icagen recently renewed and extended the research term of their collaboration through year-end 2011. In addition to Nav1.7, the collaboration also includes certain other sodium ion channel targets. Pfizer will continue to fund all aspects of the collaboration, including research and preclinical development efforts at Icagen, and has exclusive worldwide rights to commercialize products that result from the collaboration. Icagen is eligible to receive approximately $359 million upon achievement of specified research, development, regulatory and commercialization milestones for products under the collaboration, and is also eligible to receive tiered royalties, against which the commercialization milestones are creditable, based upon product sales.

About Icagen

Icagen, Inc. is a biopharmaceutical company based in Research Triangle Park, North Carolina, focused on the discovery, development and commercialization of novel orally-administered small molecule drugs that modulate ion channel targets. Utilizing its proprietary know-how and integrated scientific and drug development capabilities, Icagen has identified multiple drug candidates that modulate ion channels. The Company is conducting research and development activities in a number of disease areas, including epilepsy, pain and inflammation. The Company has a clinical stage program in epilepsy and pain. To learn more about Icagen, please visit our website at www.icagen.com.

The Icagen, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5735

Forward Looking Statements

This press release may contain forward-looking statements that involve a number of risks and uncertainties. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words “believes,” “anticipates,” “plans,” “expects,” “intends,” and similar expressions are intended to identify forward-looking statements. Important factors that could cause actual results to differ materially from the expectations described in these forward-looking statements are set forth under the caption “Risk Factors” in Icagen’s most recent Quarterly Report on Form 10-Q, filed with the SEC on November 10, 2010. These risk factors include risks as to Icagen’s lack of liquidity and substantial doubt about Icagen’s ability to continue as a “going concern;” Icagen’s ability to raise additional funding; Icagen’s history of net losses and how long Icagen will be able to operate on its existing capital resources; general economic and financial market conditions; Icagen’s ability to maintain compliance with Nasdaq’s continued listing requirements; whether Icagen’s product candidates will advance in the clinical trials process; the timing of such clinical trials; whether the results obtained in preliminary studies will be indicative of results obtained in clinical trials; whether the clinical trial results will warrant continued product development; whether and when, if at all, Icagen’s product candidates, including ICA-105665 and Icagen’s other lead compounds for epilepsy and pain, will receive approval from the U.S. Food and Drug Administration or equivalent regulatory agencies, and for which indications, and if such product candidates receive approval, whether such products will be successfully marketed; and Icagen’s dependence on third parties, including manufacturers, suppliers and collaborators. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

CONTACT:  Icagen, Inc.
          Richard D. Katz, M.D., EVP, Finance and Corporate
           Development; Chief Financial Officer
          (919) 941-5206
          rkatz@icagen.com

Icagen, Inc. Logo

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iMergent, Inc. (IIG) is “One to Watch”

Founded in 1999, iMergent, Inc. is focused on providing superior e-commerce solutions to entrepreneurs and businesses. The company’s proprietary software and services allows clients to sell and market their products and services, accept online orders, analyze marketing performance and manage pricing and customers efficiently over the Internet. iMergent also offers e-commerce enabled web site development and implementation, web site hosting, search engine optimization (SEO) and training.

iMergent distributes its products and services via a combination of direct sales and VARs to businesses, both domestically and internationally, including: United States, Australia, Canada, New Zealand, Singapore, and the United Kingdom. The company has firmly established itself as the leading provider of ecommerce solutions, offering a full suite of website management tools for custom web development in a point-and-click environment.

In light of the recent economic conditions, businesses are increasingly looking for new ways to increase leads and grow sales. iMergent’s feature-rich platform enables businesses to quickly develop an effective online presence, reaching millions of prospective customers across the globe. Leveraging the expertise of its proven management team, the company is poised to continue driving growth and recurring revenues through its superior product offerings and strategic partnerships.

Tuesday, November 30th, 2010 Uncategorized Comments Off on iMergent, Inc. (IIG) is “One to Watch”

Rubicon (RBY) Announces 4.0 Million Ounce Inferred Gold Resource Estimate Grading 20.1 g/t gold (0.59 oz/ton gold)

TORONTO, Nov. 29 /CNW/ – Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) (“Rubicon”) is pleased to provide a NI 43-101 compliant inferred mineral resource estimate for the F2 Gold System, part of its 100%-owned Phoenix Gold Project located in the heart of the prolific Red Lake Gold District of Ontario. The estimate is summarized below:

Inferred Resource
(5 g/t cutoff & 10 gram x metre product minimum) Tonnes Grade (g/t) Grade (oz/ton) Contained ounces
Total Inferred Resource 6,200,000 20.1 0.59 4,007,000

The inferred mineral resource estimate was prepared by Geoex Limited. (“Geoex”) based on 166,886 metres of diamond drilling in 237 drill holes carried out between February 27, 2008 (the date of the initial discovery) and July 31, 2010. The estimate does not include approximately 41,702 metres of drilling completed since July 31, 2010. The inferred resource estimate was prepared using the polygonal calculation method (see below for details) which, in the opinion of Geoex, is the appropriate method and is typically used for this type of deposit. The cut-off used is considered to be an economically reasonable estimate of breakeven mining costs.

“We are very pleased with these initial results. They demonstrate that the F2 Gold System is already a significant sized gold deposit. Importantly, the gold grade of 20.1 g/t gold is high compared to most major gold deposits around the world and is consistent with the overall Red Lake camp average grade, which is Red Lake’s key advantage. Our objective now, through our ongoing delineation program is to upgrade part of this large inferred resource, move towards development and to continue to expand the gold system. Underground development on the project has already cross-cut mineralized zones at the 305 metre level and delineation drilling is underway. Photographs of the new zones are available on the Company website at www.rubiconminerals.com.” stated David Adamson, President and CEO.

Geological Potential

In addition to the above referenced inferred resource estimate, Geoex carried out an evaluation of geological potential based on an analysis of the distribution of current drilling (strike length of 898 meters as of July 31,2010) and opportunity for infill and expansion drilling to depth. The system remains open along strike and to depth beyond the current limit of drilling.

The geological potential is based on the projection and extrapolation of the inferred resource present between 0 to 500 metres below surface as this area is considered well drilled and contains an inferred resource of 3,400,000 tonnes containing 2,680,000 oz at 24.4 g/t or 0.71 oz/ton. In the area between 500 and 1500 metres below surface, drilling is wider spaced and thus large parts of the system in this area have not been adequately drill tested, however, in the opinion of Geoex, based on a review of project data, experience from elsewhere in Red Lake and general observations on lode gold deposits, the grade and tonnage profile of the area above 500 metres is likely to be replicated to depth with additional drilling. The results of this analysis are summarized in the table below:

Depth Potential Tonnes Potential Grade Potential Ounces
Above 500m (well drilled) 3,400,000 to 3,700,000 24.4 to 26.8 g/t 2,680,000 to 3,190,000
500-1500 metres (wide spaced drilling) 6,800,000 to 7,500,000 24.4 to 26.8 g/t 5,330,000 to 6,460,000
1500-2500 metres (no drilling – open) 6,800,000 to 7,500,000 24.4 to 26.8 g/t 5,330,000 to 6,460,000
Total to 2500 metres (open at depth) 17,000,000 to 18,700,000 24.4 to 26.8 g/t 13,340,000 to 16,110,000

The potential tonnages, grades and ounces set forth in the analysis of geological potential are conceptual in nature, as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

“From the early days of the discovery, we have always recognized that we are exploring a very robust and large mineralizing system, which is why we have dedicated significant drilling efforts to the 9X target area. As suggested by Geoex, the current 4.01 million ounce inferred gold resource may be only a small part of the overall gold potential of the F2 Gold System. Large areas remain to be infill-drilled and the system is open in all directions. We should also point out, we own 40% of the exploration real estate in Red Lake giving us a unique opportunity to find the next F2 Gold Deposit,” stated David Adamson, President and CEO.

Geoex will prepare an NI 43-101 compliant technical report in respect of the inferred resource estimate and geological potential discussed in this release which Rubicon will file on SEDAR within 45 days of the date this release was disseminated, and plans to complete a Preliminary Economic Assessment in respect of the F2 Gold System by the end of Q1, 2011.

Resource Calculation Methodology

The construction of the polygonal and block models was a product of collaboration between Rubicon and Geoex. Rubicon personnel included Matt Wunder P.Geo, V.P. Exploration and Eric Hinton P.Eng., Project Manager. All data in the resource evaluation were reviewed by Geoex with Mr. Peter George of Geoex assuming responsibility for the resource and geological potential estimates upon which the statements reported herein are based.

Polygonal Resource calculation

Source assay data were audited by a third party consulting firm (IoGlobal) specializing in data management and QA/QC analysis and composite intervals were calculated utilizing a minimum three and also a five gram cut-off and minimum 10 gram times metre product for all F2 system data to July 31, 2010. No top cut was applied to the data because, in the opinion of Geoex there is insufficient geostatistical data to properly determine an accurate top cut value at this time. The X, Y and Z centroid points were calculated and horizontal thickness for each composite interval was calculated utilizing a set of east-west cross sections (local mine grid). The composite intervals were classified by geological unit and centroid points for each composite interval were plotted on long sections for each geological domain utilizing AMine software. Individual zones were then interpreted in AMine.

The interpretation is largely based on a series of detailed cross sections confirming geological continuity vertically down dip and along strike (mine grid north-south). Polygons were plotted on long sections for each sub zone with ellipse parameters for the inferred resource of 75 metre vertical radius and 37.5 metre horizontal radius. Polygons were clipped where overlapping, clipped where the claim boundary and 15 metres below where the lake bottom surface was contacted. Polygon areas were calculated for each centroid point, horizontal thickness was applied to determine the volume, a specific gravity (“SG”) of 2.85 g/cm3 was applied, being derived from the average SG in preliminary metallurgical studies (see news release dated October 19, 2010). The volume of each polygon was calculated and assigned a gold grade. The sum of the polygons constitutes the inferred resource.

Block Model calculation

In addition to the polygonal resource calculation, as a means of validating the inferred resource estimate by an independent method, a block model was calculated utilizing Surpac software resulting in 5,830,000 tonnes, 3,210,000 ounces at 17.2 g/t or 0.50 opt. The block model results are within 6.7% of the tonnage, 17.1% of the contained ounces and 24.9% of the grade of the polygonal estimate (6,200,000 tonnes, 4,007,000 ounces at 20.1g/t gold or 0.59 opt). While Geoex does not consider the block model the most appropriate method for this type of deposit, the results are considered to provide strong supporting validation for the preferred polygonal estimate reported above. It should be noted that the block model results do not differ significantly regardless of whether a northeast (East Bay trend) or northwest (F2 trend) oriented search ellipse is used in the block model.

Data were audited prior to completion of the block model. For this inferred resource estimate, the data were treated as one domain. Assay data were composited at 1.0 metre intervals (no top cut was applied) and variogram analysis was completed. Two times the variogram range was utilized for oriented search ellipse parameters (list parameters) for the inferred resource calculation. A block size of 2m (E-W) by 4m (N-S) by 12m (vertical) was selected through an optimization process. Data were constrained by the lake bottom surface, the claim boundary and a western boundary was included to exclude any unrelated drilling carried out prior to February 2008. A SG of 2.85 g/cm3 was utilized.

Rubicon is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Project in Red Lake, Ontario. Rubicon controls over 100 square miles of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Mine.

RUBICON MINERALS CORPORATION
“David W. Adamson”
President & CEO

Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category. The mineral resources in this press release were estimated using CIM Standards.

Qualified Persons

Rubicon has implemented a rigorous QA/QC program to ensure best practices in the sampling and analysis of drill core. Assays were conducted on sawn NQ-sized half core sections. Delineation drilling intercepts represent true horizontal width. The saw blade is routinely cleaned between samples when visible gold is noted during logging and sampling of the drill core. Assays were conducted by SGS Minerals Services using standard fire assay on a 30 gram (1 assay ton) sample with a gravimetric finish procedure. Assays are uncut as is standard practice in Red Lake. Standards, blanks and check assays were included at regular intervals in each sample batch. Check assays on 5% of samples are carried out at a third party independent laboratory. Gold standards were prepared by CDN Resource Laboratories Ltd. Exploration drill programs and all data forming the basis of the inferred resource estimate described in this release were supervised and verified by Terry Bursey, P.Geo,. Regional Manager for Rubicon and a Qualified Person as defined by NI 43-101. All data required for the block calculation described in this release was prepared and verified by Eric Hinton, P.Eng, Project Manager of Rubicon and a Qualified Person as defined by NI 43-10. The inferred resource estimate, including the polygonal resource calculation and the block model calculation, and the geological potential analysis were prepared by Peter George, P.Geo., President and consulting geologist of Geoex, an independent Qualified Person as defined by NI 43-101, and he verified all data received from Rubicon in connection with same.

Cautionary Note to U.S. Readers Regarding Estimates of Measured, Indicated and Inferred Resources

This press release uses the term “inferred resources.” We advise U.S. investors that while this term is recognized and required by Canadian regulations, it is not recognized by the SEC. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Under Canadian rules, estimates of “inferred mineral resources” may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute “reserves” as in-place tonnage and grade without reference to unit measures. The term “contained gold ounces” used in this press release is not permitted under the rules of the SEC. U.S. investors are cautioned not to assume that any part or all of a measured, indicated or inferred resource exists or is economically or legally mineable.

Forward Looking Statements
This news release contains statements that constitute “forward-looking statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934 and “forward looking information” within the meaning of applicable Canadian provincial securities legislation (collectively, “forward-looking statements”) . Forward-looking statements often, but not always, are identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “targeting” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, or “might” occur or be achieved and other similar expressions. Forward-looking statements in this document include statements regarding estimates of mineral resources, estimates of gold grades and in-place ounces, the preparation and timing of a technical report in respect of the inferred resource estimate and the proposed Preliminary Economic Assessment and the timing and nature of future exploration programs. Our exploration programs are dependent on projections which may change as drilling continues, or if unexpected ground conditions are encountered. In addition, areas of exploration potential are identified which will require substantial drilling to determine whether or not they contain similar mineralization to areas which have been explored in more detail. The description of the extent of mineralized zones is not intended to imply that any economically mineable estimate of reserves or resources exists on the Phoenix project. Similarly, although geological features of the F2 Gold System are interpreted to show similarities to nearby gold producing mines owned by third parties, this should not be interpreted to mean that the F2Gold System has, or that it will generate similar reserves or resources. Significant additional drilling is required at F2 to fully understand system size before a meaningful resource calculation can be completed.

The forward-looking statements that are contained in this news release are based on various assumptions and estimates by Rubicon and involve a number of risks and uncertainties. As a consequence, actual results might differ materially from results forecast or suggested in these forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Rubicon to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause the actual results to differ include; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; results of exploration, availability of capital and financing on acceptable terms, inability to obtain required regulatory approvals, unanticipated difficulties or costs in any rehabilitation which may be necessary, market conditions and general business, economic, competitive, political and social conditions. These statements are based on a number of assumptions, including assumptions regarding general market conditions, timing and receipt of regulatory approvals, the ability of Rubicon and other relevant parties to satisfy regulatory requirements, the availability of financing for proposed transactions and programs on reasonable terms and the ability of third-party service providers to deliver services in a timely manner. Although Rubicon has attempted to identify important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there may be other factors which cause actual results to differ. Forward-looking statements contained herein are made as of the date of this news release and Rubicon disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Monday, November 29th, 2010 Uncategorized Comments Off on Rubicon (RBY) Announces 4.0 Million Ounce Inferred Gold Resource Estimate Grading 20.1 g/t gold (0.59 oz/ton gold)

Beacon Roofing Supply (BECN) Reports Fourth Quarter and Annual 2010 Results

Nov. 29, 2010 (Business Wire) — Beacon Roofing Supply, Inc. (the “Company”) (NASDAQ: BECN) announced results today for its fourth quarter and fiscal year ended September 30, 2010.

Robert Buck, the Company’s Chairman & Chief Executive Officer, stated: “Our fourth quarter and fiscal 2010 results were disappointing as industry and economic conditions remained more challenging than anticipated. We were also up against a year that had significant storm business and record annual earnings. Despite these factors, our total sales declined only 1% in the fourth quarter due, in part, to the positive impact from our current year acquisitions. In addition, our non-residential roofing and complementary product sales continued to rebound. We started to see some gains in residential business later in the year in a few of our regions that did not benefit from storms last year. Our operating expenses were well-controlled and we achieved a substantial build-up of cash in the fourth quarter. We believe the favorable long-term industry growth factors remain in place and we are in a good position to expand our Company in 2011.”

Fourth Quarter

Total sales declined 1.1% to $482.6 million in 2010 from $487.7 million in 2009, while existing market (organic) sales declined 3.8%. Excluded from the existing market results were seven additional branches in operation at the end of this year compared to September 30, 2009. Residential roofing sales in existing markets decreased 16.8%, while non-residential roofing and complementary product sales increased 11.5% and 3.3%, respectively. Residential roofing sales and gross margin were unfavorably impacted by lower average selling prices in 2010 and less re-roofing activity in post storm-affected regions.

Net income for the fourth quarter was $16.9 million compared to $19.0 million in 2009, a decline of 11.4%. Diluted net income per share was $0.37 compared to $0.42 in 2009, a decline of 11.9%. The lower net income was primarily due to a lower gross margin rate, partially offset by the benefit from reduced expenses, including lower interest expense and income taxes.

Earnings before interest, taxes, depreciation and amortization, and stock-based compensation (“Adjusted EBITDA”), which is reconciled to the net income in this press release, was $38.9 million in 2010 compared to $45.2 million in 2009, a decline of 13.9%.

Fiscal Year

Sales declined 7.2% to $1.61 billion in 2010 from $1.73 billion in 2009, while existing market sales decreased 8.7%. Residential roofing sales in existing markets decreased 18.0%, while non-residential roofing sales and complementary product sales increased 1.2% and 2.1%, respectively. Residential roofing sales and gross margin were unfavorably impacted by the same factors mentioned above for the fourth quarter and especially in the areas affected by Hurricane Ike in the first half of 2009.

Net income was $34.5 million compared to $52.4 million in 2009, a decline of 34.1%. Diluted net income per share was $0.75 compared to $1.15 in 2009, a decline of 34.8%. The lower net income was due to the decline in sales and a lower gross margin rate, partially offset by reduced expenses.

Adjusted EBITDA was $106.3 million in 2010 compared to $144.4 million in 2009, a decline of 26.4%.

Cash flow from operations was $74.5 million compared to $87.6 million in 2009. This year’s cash flows were influenced mostly by the lower net income and an increase in accounts receivable, partially offset by the benefits from a lower reduction in accounts payable and accrued expenses, a much larger decrease in inventories, and a decrease in prepaid expenses and other assets. The Company spent $19.3 million on acquisitions this year and continued to pay down debt. Cash on hand increased by $34.4 million in 2010 to $117.1 million at the end of this year compared to $82.7 million at September 30, 2009.

The Company will host a webcast and conference call today at 10:00 a.m. ET to discuss these results. The live webcast of the call, along with a webcast replay after the call, can be accessed at http://ir.beaconroofingsupply.com/events.cfm (the “Events & Presentations” page of the “Investor Relations” section of the Company’s web site). There will be a slide presentation of the results available on that page of the website as well. For those unable to connect to the Internet or who may wish to ask questions, the conference call dial-in number is 720-545-0063. To assure timely access, call participants should call in before 10:00 a.m.

Beacon Roofing Supply, Inc. is a leading distributor of roofing materials and complementary building products, operating 179 branches in 37 states in the United States and in three provinces in Eastern Canada.

Forward-Looking Statements: This release contains information about management’s view of the Company’s future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the “Risk Factors” section of the Company’s latest Form 10-K. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

BEACON ROOFING SUPPLY, INC
Condensed Consolidated Statements of Operations
(Dollars in thousands, except per share data)
Fiscal Quarter Ended Fiscal Year Ended
September 30, 2010 % of Net Sales September 30, 2009 % of Net Sales September 30, 2010 % of Net Sales September 30, 2009 % of Net Sales
Net sales $ 482,603 100.0 % $ 487,749 100.0 % $ 1,609,969 100.0 % $ 1,733,967 100.0 %
Cost of products sold 376,196 78.0 % 374,728 76.8 % 1,249,869 77.6 % 1,322,845 76.3 %
Gross profit 106,407 22.0 % 113,021 23.2 % 360,100 22.4 % 411,122 23.7 %
Operating expenses 75,647 15.7 % 76,531 15.7 % 286,583 17.8 % 301,913 17.4 %
Income from operations 30,760 6.4 % 36,490 7.5 % 73,517 4.6 % 109,209 6.3 %
Interest expense 3,528 0.6 % 5,583 1.1 % 18,210 1.1 % 22,887 1.3 %
Income before income taxes 27,232 5.6 % 30,907 6.3 % 55,307 3.4 % 86,322 5.0 %
Income taxes 10,368 2.1 % 11,875 2.4 % 20,781 1.3 % 33,904 2.0 %
Net income $ 16,864 3.5 % $ 19,032 3.9 % $ 34,526 2.1 % $ 52,418 3.0 %
Net income per share:
Basic $ 0.37 $ 0.42 $ 0.76 $ 1.16
Diluted $ 0.37 $ 0.42 $ 0.75 $ 1.15
Weighted average shares used in computing net income per share:
Basic 45,655,108 45,165,603 45,480,922 45,007,313
Diluted 46,092,099 45,640,450 46,031,593 45,493,786
BEACON ROOFING SUPPLY, INC
Condensed Consolidated Balance Sheets
September 30, 2010 September 30, 2009
(In thousands)
Assets
Current assets:
Cash and cash equivalents $ 117,136 $ 82,742
Accounts receivable, net 241,341 227,379
Inventories 158,774 195,011
Prepaid expenses and other assets 43,115 52,714
Deferred income taxes 17,178 19,323
Total current assets 577,544 577,169
Property and equipment, net 47,751 52,965
Goodwill 365,061 354,193
Other assets, net 51,833 56,459
Total assets $ 1,042,189 $ 1,040,786
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable $ 144,064 $ 151,683
Accrued expenses 50,132 75,536
Current portion of long-term obligations 15,734 15,092
Total current liabilities 209,930 242,311
Senior notes payable and other obligations, net of current portion 323,681 338,347
Deferred income taxes 39,734 36,555
Common stock 457 452
Additional paid-in capital 236,136 226,793
Retained earnings 233,890 199,364
Accumulated other comprehensive loss (1,639 ) (3,036 )
Total stockholders’ equity 468,844 423,573
Total liabilities and stockholders’ equity $ 1,042,189 $ 1,040,786
BEACON ROOFING SUPPLY, INC
Condensed Consolidated Statements of Cash Flows
Fiscal Year Ended
September 30, 2010 September 30, 2009
(In thousands)
Operating activities:
Net income $ 34,526 $ 52,418
Adjustments to reconcile net income
to net cash provided by operating activities:
Depreciation and amortization 27,773 30,389
Stock-based compensation 5,001 4,780
Deferred income taxes 3,060 (599 )
Changes in assets and liabilities, excluding the effects of acquisitions:
Accounts receivable (6,486 ) 56,143
Inventories 40,952 14,168
Prepaid expenses and other assets 8,723 (2,256 )
Accounts payable and accrued expenses (39,051 ) (67,467 )
Net cash provided by operating activities 74,498 87,576
Investing activities:
Purchases of property and equipment (10,107 ) (13,656 )
Acquisition of businesses (19,328 )
Net cash used in investing activities (29,435 ) (13,656 )
Financing activities:
Borrowings (repayments) under revolving lines of credit 67 (4,955 )
Repayments under senior notes & other (15,193 ) (14,969 )
Proceeds from exercise of options 3,561 1,717
Income tax benefit from stock-based compensation deductions in excess of
the associated compensation cost 786 631
Net cash used by financing activities (10,779 ) (17,576 )
Effect of exchange rate changes on cash 110 360
Net increase in cash and cash equivalents 34,394 56,704
Cash and cash equivalents at beginning of period 82,742 26,038
Cash and cash equivalents at end of period $ 117,136 $ 82,742
BEACON ROOFING SUPPLY, INC
Consolidated Sales by Product Line-Unaudited
For the Fourth Quarters Ended:
September 30, 2010 September 30, 2009
(dollars in millions) Net Sales Mix % Net Sales Mix % Change
Residential roofing products $ 208.2 43.1 % $ 245.3 50.3 % $ (37.1 ) -15.1 %
Non-residential roofing products 205.9 42.7 % 176.4 36.2 % 29.5 16.7 %
Complementary building products 68.5 14.2 % 66.0 13.5 % 2.5 3.9 %
$ 482.6 100.0 % $ 487.7 100.0 % $ (5.1 ) -1.0 %
Consolidated Sales by Product Line for Existing Markets*
For the Fourth Quarters Ended:
September 30, 2010 September 30, 2009
(dollars in millions) Net Sales Mix % Net Sales Mix % Change
Residential roofing products $ 204.2 43.5 % $ 245.3 50.3 % $ (41.1 ) -16.8 %
Non-residential roofing products 196.6 41.9 % 176.4 36.2 % 20.2 11.5 %
Complementary building products 68.2 14.5 % 66.0 13.5 % 2.2 3.3 %
$ 469.0 100.0 % $ 487.7 100.0 % $ (18.7 ) -3.8 %
*Excludes branches acquired during the four quarters prior to the start of the fourth quarter of fiscal 2010.
BEACON ROOFING SUPPLY, INC
Consolidated Sales by Product Line-Unaudited
For the Fiscal Years Ended:
September 30, 2010 September 30, 2009
(dollars in millions) Net Sales Mix % Net Sales Mix % Change
Residential roofing products $ 745.6 46.3 % $ 898.8 51.8 % $ (153.2 ) -17.0 %
Non-residential roofing products 621.0 38.6 % 598.8 34.5 % 22.2 3.7 %
Complementary building products 243.4 15.1 % 236.4 13.6 % 7.0 3.0 %
$ 1,610.0 100.0 % $ 1,734.0 100.0 % $ (124.0 ) -7.2 %
Consolidated Sales by Product Line for Existing Markets*
For the Fiscal Years Ended:
September 30, 2010 September 30, 2009
(dollars in millions) Net Sales Mix % Net Sales Mix % Change
Residential roofing products $ 736.7 46.5 % $ 898.8 51.8 % $ (162.1 ) -18.0 %
Non-residential roofing products 605.7 38.2 % 598.8 34.5 % 6.9 1.2 %
Complementary building products 241.3 15.2 % 236.4 13.6 % 4.9 2.1 %
$ 1,583.7 100.0 % $ 1,734.0 100.0 % $ (150.3 ) -8.7 %
*Excludes branches acquired during fiscal 2010.
BEACON ROOFING SUPPLY, INC
Results in Existing Markets-Unaudited
For the Fourth Quarter Ended:
Existing Markets Acquired Markets Consolidated
September 30, September 30, September 30,
(in thousands) 2010 2009 2010 2009 2010 2009
Net Sales $ 469,014 $ 487,749 $ 13,589 $ $ 482,603 $ 487,749
Gross Profit 103,347 113,021 3,060 106,407 113,021
Gross Margin 22.0 % 23.2 % 22.5 % 22.0 % 23.2 %
Operating Expenses 72,116 76,531 3,531 75,647 76,531
Operating Expenses as a % of net sales 15.4 % 15.7 % 26.0 % 15.7 % 15.7 %
Operating Income $ 31,231 $ 36,490 $ (471 ) $ $ 30,760 $ 36,490
Operating Margin 6.7 % 7.5 % -3.5 % 6.4 % 7.5 %
Beacon Roofing Supply, Inc.
Earnings Before Interest, Taxes, Depreciation and Amortization and Stock-Based Compensation (“Adjusted EBITDA”)
Unaudited
(Dollars in thousands, except per share data)
Three Months Ended September 30, Fiscal Year Ended September 30,
2010 2009 2010 2009
Net income $ 16,864 $ 19,032 $ 34,526 $ 52,418
Interest expense, net 3,528 5,583 18,210 22,887
Income taxes 10,368 11,875 20,781 33,904
Depreciation and amortization 6,939 7,554 27,773 30,389
Stock-based compensation 1,202 1,154 5,001 4,780
Adjusted EBITDA (1) $ 38,900 $ 45,198 $ 106,291 $ 144,378

(1) Adjusted EBITDA is defined as net income plus interest expense (net of interest income), income taxes, depreciation and amortization and stock-based compensation (i.e. stock option expense). EBITDA is a measure commonly used in the distribution industry, and we present Adjusted EBITDA to enhance your understanding of our operating performance. Adjusted EBITDA is used in our bank covenants and we use Adjusted EBITDA as an internal performance measurement and as one criterion for evaluating our performance relative to that of our peers. We believe that Adjusted EBITDA is an operating performance measure that provides investors and analysts with a measure of operating results unaffected by differences in capital structures, capital investment cycles, and ages of related assets among otherwise comparable companies. Further, we believe that Adjusted EBITDA is a useful measure because it improves comparability of results of operations, since purchase accounting used for acquisitions can render depreciation and amortization non-comparable between periods. Management uses these supplemental measures to evaluate performance period over period and to analyze the underlying trends in the Company’s business and to establish operational goals and forecasts that are used in allocating resources. We expect to compute our non-GAAP financial measures using the same consistent method from quarter to quarter and year to year.

While we believe Adjusted EBITDA is a useful measure for investors, it is not a measurement presented in accordance with United States generally accepted accounting principles, or GAAP. You should not consider Adjusted EBITDA in isolation or as a substitute for net income, cash flows from operations, or any other items calculated in accordance with GAAP. In addition, Adjusted EBITDA has inherent material limitations as a performance measure. It does not include interest expense and, because we have borrowed money, interest expense is a necessary element of our costs. In addition, Adjusted EBITDA does not include depreciation and amortization expense. Because we have capital and intangible assets, depreciation and amortization expense is a necessary element of our costs. Adjusted EBITDA also does not include stock-based compensation, which is a necessary element of our costs since we provide stock options to key members of management as an important incentive to maximize overall company performance and as a benefit. Moreover, Adjusted EBITDA does not include taxes, and payment of taxes is a necessary element of our operations. Accordingly, since Adjusted EBITDA excludes these items, it has material limitations as a performance measure. The Company’s management separately monitors capital expenditures, which impact depreciation expense, as well as amortization expense, interest expense, and income tax expense. Because not all companies use identical calculations, our presentation of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies.

BECN-F

Beacon Roofing Supply, Inc.

Dave Grace, 978-535-7668 x14

CFO

dgrace@beaconroofingsupply.com

Monday, November 29th, 2010 Uncategorized Comments Off on Beacon Roofing Supply (BECN) Reports Fourth Quarter and Annual 2010 Results

AMAG Pharmaceuticals (AMAG) Announces Update to Feraheme(R) Label

Nov. 29, 2010 (Business Wire) — AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG), today announced that the company has reached agreement with the U.S. Food and Drug Administration (FDA) regarding an update to the product label for Feraheme® (ferumoxytol) Injection for intravenous (IV) use. The updated product label, also called a package insert, includes, among other things:

  • Bolded warnings and precautions that describe events that have been reported after Feraheme administration in the post-marketing environment, including life-threatening hypersensitivity reactions and clinically significant hypotension,
  • A new section of the label entitled Adverse Reactions from Post-marketing Spontaneous Reports, and
  • An increase in the observation period following Feraheme administration from 30 to 60 minutes to observe patients for signs and symptoms of hypersensitivity.

The updated Feraheme label does not include a boxed warning. Along with the label changes, AMAG has committed to propose a registry to better understand the frequency and timing of adverse events following Feraheme administration.

“We are pleased to have reached resolution with the Agency and have this uncertainty behind us,” said Brian J.G. Pereira, M.D., president and chief executive officer of AMAG. “As we roll out the updated Feraheme label to physicians who treat adult chronic kidney disease patients with iron deficiency anemia (IDA), we look forward to devoting our full attention to the commercialization of Feraheme in this patient population and the advancement of the registrational trials for the broader IDA indication.”

Conference Call and Webcast Access

AMAG Pharmaceuticals, Inc. will host an audio webcast and conference call today at 8:00 a.m. ET to discuss this press release. To access the conference call via telephone, please dial (877) 412‐6083 from the United States or (702) 495‐1202 for international access. A telephone replay will be available from approximately 11:00 a.m. ET on November 29, 2010 through midnight on December 1, 2010. To access a replay of the conference call, dial (800) 642‐1687 from the United States or (706) 645‐9291 for international access. The passcode for the live call and the replay is 27619200.

The call will be webcast and accessible through the Investors section of the company’s website at www.amagpharma.com. The webcast replay will be available from approximately 11:00 a.m. ET on November 29, 2010 through midnight on December 29, 2010.

About AMAG Pharmaceuticals, Inc.

AMAG Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of a therapeutic iron compound to treat iron deficiency anemia. AMAG manufactures and sells Feraheme® (ferumoxytol) Injection for intravenous (IV) use. For additional company or product information, please visit www.amagpharma.com or http://feraheme.com.

Important Safety Information About Feraheme

Indication and contraindications

Feraheme is indicated for the treatment of iron deficiency anemia in adult patients with chronic kidney disease. Feraheme is contraindicated in patients with evidence of iron overload, known hypersensitivity to Feraheme or any of its components, and patients with anemia not caused by iron deficiency.

Warnings and precautions

Feraheme may cause life-threatening hypersensitivity reactions including anaphylaxis and/or anaphylactoid reactions. Anaphylactic type reactions, presenting with cardiac/cardiorespiratory arrest, clinically significant hypotension, syncope, and unresponsiveness have been reported in the post-marketing experience. In clinical studies, serious hypersensitivity reactions were reported in 0.2% (3/1,726) of subjects receiving Feraheme. Patients should be observed for signs and symptoms of hypersensitivity for at least 60 minutes following each Feraheme injection and the drug should only be administered when personnel and therapies are immediately available for the treatment of anaphylaxis and other hypersensitivity reactions.

Severe adverse reactions of clinically significant hypotension have been reported in the post-marketing experience. Please monitor for signs and symptoms of hypotension following each Feraheme injection. Excessive therapy with parenteral iron can lead to excess storage of iron with the possibility of iatrogenic hemosiderosis. As a superparamagnetic iron oxide, Feraheme may transiently affect magnetic resonance diagnostic imaging studies for up to 3 months following the last Feraheme dose. Feraheme will not affect X-ray, CT, PET, SPECT, ultrasound, or nuclear imaging.

Adverse reactions

In clinical trials, the most commonly occurring adverse reactions in Feraheme treated patients versus oral iron treated patients reported in ≥ 2% of chronic kidney disease patients were diarrhea (4.0% vs. 8.2%), nausea (3.1% vs. 7.5%), dizziness (2.6% vs. 1.8%), hypotension (2.5% vs. 0.4%), constipation (2.1% vs. 5.7%) and peripheral edema (2.0% vs. 3.2%).

Post-marketing safety experience

Adverse reactions have been identified during post-approval use of Feraheme. Because adverse reactions are reported voluntarily from a population of uncertain size, it is not always possible to reliably estimate their frequency or establish a causal relationship to drug exposure.

The following serious adverse reactions have been reported from the post-marketing spontaneous reports with Feraheme: life-threatening anaphylactic/anaphylactoid reactions, cardiac/cardiorespiratory arrest, clinically significant hypotension, syncope, unresponsiveness, loss of consciousness, tachycardia/rhythm abnormalities, angioedema, ischemic myocardial events, congestive heart failure, pulse absent, and cyanosis. These adverse reactions have occurred up to 30 minutes after the administration of Feraheme injection. Reactions have occurred following the first dose or subsequent doses of Feraheme.

Please visit http://www.feraheme.com for a copy of the full prescribing information.

AMAG Pharmaceuticals

Amy Sullivan, 617-498-3303

Carol Miceli, 617-498-3361

Monday, November 29th, 2010 Uncategorized Comments Off on AMAG Pharmaceuticals (AMAG) Announces Update to Feraheme(R) Label

Mellanox Technologies Ltd. (MLNX) Announces Definitive Agreement to Acquire Voltaire Ltd. (VOLT) for Cash

Nov. 29, 2010 (Business Wire) — Mellanox® Technologies, Ltd. (NASDAQ:MLNX) (TASE:MLNX), a leading supplier of end-to-end connectivity solutions for servers and storage systems, and Voltaire Ltd. (NASDAQ:VOLT), a leading provider of scale-out data center fabrics, announced today that they have signed a definitive agreement under which Mellanox will acquire 100 percent of Voltaire’s outstanding ordinary shares for cash at a price of $8.75 per share, or a total equity value of approximately $218 million ($176 million net of cash). The terms of the transaction have been unanimously approved by both the Mellanox and Voltaire Boards of Directors. The transaction is currently projected to close in the first quarter of 2011, subject to certain closing conditions. The combination of the two companies will strengthen Mellanox’s position as a premier, end-to-end connectivity solutions provider for the growing worldwide data center server and storage markets. According to Gartner*, worldwide server shipments are expected to increase from approximately 9 million in 2010 to 11.2 million in 2014, and worldwide storage systems are expected to grow from approximately 1.8 million in 2010 to 3.2 million in 2014.

The combined businesses currently have approximately 700 employees and achieved revenues of $217 million for the twelve months ended Sept. 30, 2010.

Mellanox currently anticipates that the transaction will be accretive to its fiscal 2011 non-GAAP earnings by $0.02 – $0.05 or more per share. With highly complementary products, markets, customers and strategies, Mellanox expects the proposed acquisition of Voltaire to enhance its market position as a leading provider of end-to-end connectivity solutions for servers and storage systems. The combination will also help Mellanox achieve meaningful revenue and cost synergies over time, with estimated, annualized cost synergies of at least $10 million by the end of 2012.

Mellanox’s Board of Directors has indicated its intention to nominate Ronnie Kenneth, the chairman and CEO of Voltaire, to join its Board of Directors at Mellanox’s Annual General Meeting of shareholders, which it currently anticipates will be held in May 2011. Mr. Kenneth has indicated his intention to join the Board of Directors of Mellanox.

Mellanox and Voltaire believe that employees represent one of their most important assets, and Mellanox looks forward to combining employees from both organizations under one unified management team. Mellanox expects to run the combined business from both companies’ current offices located in Israel, the United States and around the world. Further, Mellanox intends to retain both companies’ existing product lines and will converge such lines in future product generations to ensure continuity for customers and partners of both companies. Through this acquisition, Mellanox expects to achieve additional scale to permit it to operate as a larger, more successful and more profitable enterprise, thus increasing value for the combined company’s shareholders and customers.

“The combination of Mellanox and Voltaire will create a leading provider of connectivity solutions for our customers by leveraging the complementary strengths of our companies. Together, we believe the combined company will be a stronger business partner and system solutions provider, delivering customers a comprehensive range of end-to-end connectivity solutions,” said Eyal Waldman, president, chairman and CEO of Mellanox Technologies. “We welcome the great talent from Voltaire and look forward to completing the integration of our employees to create a superior combined company.”

“We believe this is a great transaction for our customers, employees and shareholders,” said Ronnie Kenneth, chairman and CEO of Voltaire. “We expect the combined company to offer our customers the financial strength of Mellanox, industry-leading solutions and world-class development teams that drive innovation and enhance market opportunities.”

Mellanox believes that the Voltaire acquisition will strengthen its leadership position in providing end-to-end connectivity systems and will expand its software and product offerings in the growing worldwide data center server and storage markets it serves.

Under the terms of the definitive agreement, Voltaire shareholders will receive $8.75 for each ordinary share of Voltaire that they hold at the closing of the transaction. The proposed acquisition is subject to customary closing conditions, including the receipt of applicable regulatory approvals and the approval of Voltaire’s shareholders.

In connection with the transaction, J.P. Morgan acted as exclusive financial adviser to Mellanox, and Bank of America Merrill Lynch acted as exclusive financial adviser to Voltaire.

Conference Call

Mellanox and Voltaire will jointly conduct an audio webcast to discuss Mellanox’s agreement to acquire Voltaire today at 5:30 a.m. Pacific Time. To listen to the call, dial 973-409-9610 approximately ten minutes prior to the start time. Presentation slides along with audio replay of the call will be available following the call on the investor relations section of the Mellanox website at http://ir.mellanox.com.

About Voltaire

Voltaire (NASDAQ:VOLT) is a leading provider of scale-out computing fabrics for data centers, high performance computing and cloud environments. Voltaire’s family of server and storage fabric switches and advanced management software improve performance of mission-critical applications, increase efficiency and reduce costs through infrastructure consolidation and lower power consumption. Used by more than 30 percent of the Fortune 100 and other premier organizations across many industries, including many of the TOP500 supercomputers, Voltaire products are included in server and blade offerings from Bull, Fujitsu, HP, IBM, NEC and SGI. Founded in 1997, Voltaire is headquartered in Ra’anana, Israel and Chelmsford, Massachusetts. More information is available at www.voltaire.com or by calling 1-800-865-8247

About Mellanox

Mellanox Technologies is a leading supplier of end-to-end connectivity solutions for servers and storage that optimize data center performance. Mellanox products deliver market-leading bandwidth, performance, scalability, power conservation and cost-effectiveness while converging multiple legacy network technologies into one future-proof solution. For the best in performance and scalability, Mellanox is the choice for Fortune 500 data centers and the world’s most powerful supercomputers. Founded in 1999, Mellanox Technologies is headquartered in Sunnyvale, California and Yokneam, Israel. For more information, visit Mellanox at www.mellanox.com.

Important Information:

In connection with the proposed transaction, Voltaire will prepare a proxy statement to be delivered to its shareholders, and intends to furnish such proxy statement to the Securities and Exchange Commission under cover of Form 6-K. Before making any voting or investment decision with respect to the transaction, investors and security holders of Voltaire are urged to read the proxy statement and the other relevant materials when they become available because they will contain important information about the transaction. The proxy statement and other documents may be obtained for free by directing such request to Voltaire Investor Relations, telephone: +1-800-865-8247 or at www.voltaire.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This document 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. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management’s beliefs and certain assumptions made by us, all of which are subject to change.

Forward-looking statements can often be identified by words such as “projects,” “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,” “could,” “potential,” “continue,” “ongoing,” similar expressions and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.

The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the challenges and costs of closing, integrating, restructuring and achieving anticipated annualized cost synergies; the ability to retain key employees; the actual worldwide server shipment growth rate from 2011 to 2014; the actual worldwide storage systems growth rate from 2011 to 2014; the impact of the transaction discussed herein on the Company’s actual financial results; negative customer reaction to the proposed acquisition; the continued growth in demand for our products; the continued, increased demand for industry standards-based technology; our ability to react to trends and challenges in our business and the markets in which we operate; our ability to anticipate market needs or develop new or enhanced products to meet those needs; the adoption rate of our products; our ability to establish and maintain successful relationships with our OEM partners; our ability to effectively compete in our industry; fluctuations in demand; sales cycles and prices for our products and services; our success converting design wins to revenue-generating product shipments; and, our ability to protect our intellectual property rights.

In addition, if Voltaire does not receive required shareholder approval or if the parties fail to satisfy other conditions to closing, the transaction may not be consummated and the anticipated benefits to Mellanox and Voltaire of the proposed acquisition would not be realized. In any forward-looking statement in which Mellanox or Voltaire expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will result or be achieved or accomplished.

In addition, current uncertainty in the global economic environment poses a risk to the overall economy as businesses may defer purchases in response to tighter credit conditions, changing overall demand for our products, and negative financial news. Consequently, our results could differ materially from our prior results due to these general economic and market conditions, political events and other risks and uncertainties described more fully in our documents filed with or furnished to the SEC.

More information about the risks, uncertainties and assumptions that may impact the transaction and the parties’ businesses is set forth in Mellanox’s Form 10-K filed with the SEC on March 5, 2010 and Form 10-Q filed with the SEC on August 4, 2010, and Voltaire’s Form 20-F filed with the SEC on March 25, 2010, including “Risk Factors”. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.

Mellanox, BridgeX, ConnectX, InfiniBlast, InfiniBridge, InfiniHost, InfiniRISC, InfiniScale, InfiniPCI, PhyX and Virtual Protocol Interconnect are registered trademarks of Mellanox Technologies, Ltd. CORE-Direct, and FabricIT are trademarks of Mellanox Technologies, Ltd. All other trademarks are property of their respective owners.

*Gartner: 20 September 2010, ID: G00208105, Forecast: Servers by Form Factor, Worldwide, 3Q10 Update and ID: G00206858, Forecast: External Controller-Based Disk Storage, Worldwide, 2010-2014, 3Q10 Update

Mellanox Technologies, Ltd.

Brian Sparks, 408-970-3400

media@mellanox.com

or

Janine Zanelli, 408-970-3400

janine@mellanox.com

or

Voltaire, Ltd.

Asaf Somekh, +972-74-7129323

asafs@voltaire.com

or

Stapleton Communications Inc.

Deborah Stapleton, 650-470-0200

deb@stapleton.com

or

Gelbart Kahana

Nava Ladin, +972-3-6074717

nava@gk-biz.com

Monday, November 29th, 2010 Uncategorized Comments Off on Mellanox Technologies Ltd. (MLNX) Announces Definitive Agreement to Acquire Voltaire Ltd. (VOLT) for Cash

Amarin’s (AMRN) AMR101 Meets Pivotal Phase 3 Study Endpoints With Highly Statistically Significant Reductions in Triglycerides

MYSTIC, Conn. and DUBLIN, Nov. 29, 2010 /PRNewswire-FirstCall/ — Amarin Corporation plc (Nasdaq: AMRN), a clinical-stage biopharmaceutical company with a focus on cardiovascular disease, today reported positive, statistically significant top-line results from the MARINE study, its first Phase 3 clinical trial of lead drug candidate AMR101. The MARINE study, investigating AMR101 as a treatment for very high triglycerides (≥500 mg/dL), met its primary efficacy endpoints as defined in the clinical trial protocol and demonstrated a positive safety profile.  The Company believes that AMR101 has the potential to be the best-in-class product for this indication and that the MARINE study results may support additional patentable claims that could further protect the Company’s rights to this product through 2030.

The study’s primary endpoint, the percent change in triglyceride (TG) levels from baseline to week 12, was met for both the 4 gram and 2 gram dose groups. The MARINE study was required to meet a stringent level of statistical significance of 1% (p < 0.01), as agreed in the Company’s SPA (Special Protocol Assessment) with the FDA. Twenty-five percent of patients were on background statin therapy. The patient group treated with 4 grams of AMR101 showed a significant median TG decrease of 33 % (P < 0.0001) compared to placebo, and the patient group treated with 2 grams of AMR101 showed a significant median TG decrease of 20 % (P = 0.0051) compared to placebo. The median baseline triglyceride levels were 703 mg/dL, 680 mg/dL and 657 mg/dL for the patient groups treated with placebo, 4 grams of AMR101 and 2 grams of AMR101, respectively.

In a pre-specified secondary analysis in the subgroup of patients with baseline TG > 750 mg/dL, representing 39% of all patients, the effect of AMR101 in reducing TG levels was even more pronounced. In this group, the median decrease in TG levels from placebo was 45% for 4 grams and 33% for 2 grams, both statistically significant (P= 0.0001 for 4 grams and P= 0.0016 for 2 grams, respectively). The median baseline TG levels in this subgroup were 1052 mg/dL, 902 mg/dL and 948 mg/dL for placebo, 4 gram and 2 gram groups, respectively.  In addition, the subgroup of patients on background statin therapy had much greater median reductions in TG, which were also statistically significant, than those not on statin therapy.

Importantly, AMR101 did not result in an increase in median LDL-C compared to placebo at either dose (-2.3% for the 4 gram group and +5.2% for the 2 gram group [p=NS]). This is the first and only triglyceride-lowering therapy studied in this population with very high triglyceride levels to show a lack of elevation in LDL-C. Furthermore, there was a statistically significant decrease in median non-HDL-C (total cholesterol less “good cholesterol”) compared to placebo with both of the AMR101 treated groups (-18% for the 4 gram group [p < 0.001] and -8% for the 2 gram group [p < 0.05]).

There were also statistically significant reductions in several important lipid markers, including Apo B, Lp-PLA2 (Lipoprotein-phospholipase A2), VLDL-C and Total Cholesterol. These results are particularly encouraging given that no other TG-lowering therapy studies have shown such results. For these achieved endpoints, p-values were <0.01 for most and <0.05 for all.  Apo B (Apolipoprotein B) is a sensitive index of residual cardiovascular risk and is generally considered to be a better predictor than LDL-C.  Lp-PLA2 is an enzyme found in blood and atherosclerotic plaque; high levels have been implicated in the development and progression of atherosclerosis. Furthermore, AMR101 appeared to be very well tolerated with a safety profile that appears to be both comparable to placebo and more favorable compared to other triglyceride lowering therapies. There were no treatment-related serious adverse events in the MARINE study.  The Company will present more details of these results at an upcoming scientific meeting.

Commenting on the results of the study, Harold Bays, M.D., Medical Director, Louisville Metabolic and Atherosclerosis Research Center, and Principal Investigator of the study, stated, “The MARINE trial included a study population of patients with very high TG levels (i.e. > 500 mg/dl).  In this study, AMR101 reduced TG levels to within the range observed with common approved triglyceride-lowering drugs.  Clinicians are aware, and some may have concerns, that common TG-lowering agents may raise LDL-C by 40 – 50% in patients with very high TG levels.  In the MARINE trial, AMR101 did not significantly increase LDL-C levels.  Another surprise to me was the degree of TG-lowering efficacy in the statin-treated group, which exceeded the TG lowering in the non-statin treated group.  It was also reassuring that the safety and tolerability of AMR101 was similar to placebo.  Adding these favorable findings to the significant reductions in total cholesterol, non-HDL-C, Apo B, and Lp-PLA2 levels, this suggests that AMR101 may prove to represent an effective, and safe alternative treatment option to improve cardiovascular risk factors in patients with very high triglycerides.  In summary, the results of the MARINE trial suggest that AMR101 may prove to represent a “first in class” EPA TG-lowering agent that not only represents a new chemical entity, but a potential novel therapy with favorable lipid efficacy effects that differ from common TG-lowering agents, such as fibrates and previously approved prescription omega-3 drugs. We very much look forward to presenting the full dataset at a scientific meeting.”

Joseph S. Zakrzewski, Executive Chairman and Chief Executive Officer of Amarin, added, “The MARINE study was conducted in a population representative of millions of people with very high triglyceride levels, including more than 3.8 million in the U.S. alone. We believe that these results and the overall profile of AMR101 position the drug candidate to be best in class in this market. Furthermore, the MARINE study results are encouraging, especially the positive outcomes with respect to LDL-C and other lipids, as we await the results of the ongoing ANCHOR study. This separate Phase 3 study is designed to investigate AMR101 in patients with high triglycerides (≥200 and <500mg/dL) with mixed dyslipidemia treated with statins, a patient population for which no drug in this class is currently approved. While the market for a drug labeled for treatment of triglycerides of ≥500 mg/dL is already proven to be a billion dollar market, there are ten times the number of patients with triglycerides of ≥200 and <500 mg/dL.”

Based on the timing and nature of these results, Amarin intends in 2011 to submit a New Drug Application (NDA) seeking approval to market and sell AMR101 in the U.S.  Previous Company guidance projected 2012 for the NDA submission.  The Company further added that, based on the positive results of the MARINE trial, Amarin has advanced additional patent claims to add to its growing portfolio of U.S. and international intellectual property claims related to AMR101.

Conference Call & Webcast Information

The conference call may be accessed by dialing 877-407-0778 for U.S. callers and 201-689-8565 for callers from outside the U.S. The conference call will be Webcast live under the investor relations section of Amarin’s Web site at http://www.amarincorp.com and will be archived there for 30 days following the call. Please connect to Amarin’s Web site several minutes prior to the start of the broadcast to ensure adequate time for any software download that may be necessary.

About AMR101

AMR101 is ethyl icosapentate (ethyl-EPA). Significant scientific and clinical evidence supports the efficacy of ethyl-EPA in reducing triglyceride levels. In addition to the MARINE trial, Amarin has completed patient screening in a second Phase 3 clinical trial to investigate the efficacy of AMR101 in reducing elevated triglyceride levels in a patient population with high triglycerides (≥200 and <500mg/dL) who also have mixed dyslipidemia (the ANCHOR trial). Top-line results for the ANCHOR trial are expected in mid-2011.

About AMR101 Phase 3 Clinical Trials

The MARINE trial, a multi-center, placebo-controlled, randomized, double-blind, study enrolled 229 patients with fasting triglyceride levels greater than or equal to 500 mg/dL. Patients in this trial were characterized as having very high triglyceride levels according to the National Cholesterol Education Program Adult Treatment Panel III treatment guidelines.  The MARINE trial is the largest controlled therapeutic study ever conducted in patients with very high triglyceride levels (≥500mg/dL). The Company believes that AMR101 is positioned to be best-in-class in this patient population.

The ANCHOR trial is a multi-center, placebo-controlled, randomized, double-blind, 12-week pivotal study to evaluate the efficacy and safety of 2 grams and 4 grams of AMR101 in patients with high triglyceride levels from 200 mg/dL to less than 500 mg/dL who are also on statin therapy.  Patients in this trial are characterized as having high triglyceride levels with mixed dyslipidemia (two or more lipid disorders).  The trial aims to recruit approximately 650 patients into clinical sites in the U.S.  The primary endpoint in the trial is the percent change in triglyceride level from baseline to week 12.  A secondary endpoint in the ANCHOR trial is to show that the addition of AMR101 to statin therapy does not increase LDL-C compared to placebo in this population.  The Company believes that AMR101 is positioned to be first-in-class to address this patient population.

In both the MARINE and ANCHOR trials, prior to randomization into the 12-week double-blind treatment period, all patients underwent a six-to-eight week washout period of lipid altering drugs, as well as diet and lifestyle stabilization.  Both the MARINE and ANCHOR trials received Special Protocol Assessment (SPA) agreements in 2009 from the U.S. Food and Drug Administration (FDA).

About Amarin

Amarin Corporation plc is a clinical-stage biopharmaceutical company with expertise in lipid science focused on the treatment of cardiovascular disease. The Company’s lead product candidate is AMR101 (ethyl icosapentate), which is presently being investigated in a second Phase 3 clinical trial for the treatment of patients on statin therapy with high triglycerides (≥200 and <500mg/dL) with mixed dyslipidemia. The MARINE trial was, and the ANCHOR trial currently is, conducted under Special Protocol Assessment (SPA) agreements with the U.S. Food and Drug Administration (FDA). Amarin also has next-generation lipid candidates under evaluation for preclinical development. For more information please visit www.amarincorp.com.

Investor Contact Information:

John F. Thero

President

In U.S.: +1 (860) 572-4979

investor.relations@amarincorp.com

Lee M. Stern

The Trout Group

In U.S.: +1 (646) 378-2922

lstern@troutgroup.com

Media Contact Information:

David Schull or Martina Schwarzkopf, Ph.D.

Russo Partners

In U.S.: +1 (212) 845-4271 or +1 (212) 845-4292 (office)

+1 (347) 591-8785 (mobile)

david.schull@russopartnersllc.com

martina.schwarzkopf@russopartnersllc.com

Mark Swallow or David Dible

Citigate Dewe Rogerson

In U.K.: +44 (0)207 638 9571

mark.swallow@citigatedr.co.uk

Disclosure Notice

This press release contains forward-looking statements, including statements about the timing and success of clinical trial results and NDA submission, the potential label of any approved drug, intellectual property protection, competitive market positioning and the commercial opportunity for AMR101, including the number of patients that could potentially benefit from AMR101. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. Among the factors that could cause actual results to differ materially from those described or projected herein are the following: anticipated operating losses and the likely need for additional capital to fund future operations; uncertainties associated generally with research and development, clinical trials and related regulatory approvals; the risk that historical clinical trial enrolment and randomization rates may not be predictive of future results; uncertainties relating to the timing of data collection and analysis for the ANCHOR trial; dependence on third-party manufacturers, suppliers and collaborators; significant competition; loss of key personnel; and uncertainties associated with market acceptance and adequacy of reimbursement, technological change and government regulation. A further list and description of these risks, uncertainties and other matters can be found in Amarin’s filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 20-F.  Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.

SOURCE Amarin Corporation plc

Monday, November 29th, 2010 Uncategorized Comments Off on Amarin’s (AMRN) AMR101 Meets Pivotal Phase 3 Study Endpoints With Highly Statistically Significant Reductions in Triglycerides

Orient Paper (ONP) Audit Committee Concludes Independent Investigation

BAODING, Hebei, China, Nov. 24, 2010 /PRNewswire-Asia-FirstCall/ — Orient Paper, Inc. (Amex: ONP) (“Orient Paper” or the “Company”), a leading manufacturer and distributor of diversified paper products in Hebei, China, today announced that the independent investigation that was conducted by the Audit Committee of Orient Paper with the assistance of Loeb & Loeb LLP (“Loeb & Loeb”) and Deloitte & Touche Financial Advisory Services Limited (“Deloitte”) has concluded.

Mr. Drew Bernstein, Chairman of Orient Paper’s Audit Committee, commented, “The independent investigation has concluded.  We would like to thank all the personnel involved in the investigation and are pleased with the results. We expect to issue a press release summarizing the results of the investigation next week.”

About Orient Paper, Inc.

Orient Paper, Inc., through its wholly owned subsidiary, Shengde Holdings, Inc., controls and operates Baoding Shengde Paper Co., Ltd. (“Baoding Shengde”) and Hebei Baoding Orient Paper Milling Co., Ltd (“HBOP”). Founded in 1996, HBOP is engaged in the production and distribution of products such as corrugating medium paper, offset printing paper, and other paper and packaging-related products in China. The Company uses recycled paper as its primary raw material. Baoding Shengde, founded in June 2009 and located in Baoding, is engaged in the production and distribution of digital photo paper. As one of the largest paper producers in Hebei Province, China, HBOP is strategically located in Baoding, a city in close proximity to Beijing where the majority of publishing houses are based. Orient Paper is led by an experienced management team committed to diversifying the Company’s product offering and delivering tailored services to its customers. For more information, please visit http://www.orientpaperinc.com.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the Company’s ability to introduce new products; the Company’s ability to implement the planned capacity expansion of corrugated medium paper; market acceptance of new products; general economic and business conditions; the ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

CCG Investor Relations

Mr. Crocker Coulson, President

Phone: +1-646-213-1915

Email: crocker.coulson@ccgir.com

Website: www.ccgirasia.com

Orient Paper, Inc.

Winston Yen, Chief Financial Officer

Phone: +1-562-818-3817

Email: info@orientpaperinc.com

Wednesday, November 24th, 2010 Uncategorized Comments Off on Orient Paper (ONP) Audit Committee Concludes Independent Investigation

PharmAthene (PIP) Announces Full Exercise of Over-Allotment Option

ANNAPOLIS, Md., Nov. 24, 2010 /PRNewswire-FirstCall/ — PharmAthene, Inc., (NYSE Amex: PIP) a biodefense company developing medical countermeasures against biological and chemical threats, today announced that the 645,000 share over-allotment option granted to the underwriter in conjunction with the registered public offering consummated on November 3, 2010 was exercised in full on November 22, 2010.  The closing of the sale of the related shares occurred on November 23, 2010.

The sale of the over-allotment shares generated net proceeds, before expenses, of approximately $2.1 million, which the Company intends to use for repayment of debt and general corporate purposes.

Roth Capital Partners, LLC served as sole underwriter for the offering. Noble Financial Capital Markets served as the Company’s financial advisor in connection with the offering.

The securities described above were offered by PharmAthene pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission on February 13, 2009. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the prospectus and the final prospectus supplement may be obtained, when available, at the Securities and Exchange Commission’s website at http://www.sec.gov/. Copies of the prospectus and the final prospectus supplement may also be obtained from Roth Capital Partners, LLC Equity Capital Markets, 24 Corporate Plaza, Newport Beach, CA 92660, at 800-678-9147 and Rothecm@roth.com.

About PharmAthene, Inc.

PharmAthene was formed to meet the critical needs of the United States and its allies by developing and commercializing medical countermeasures against biological and chemical weapons. PharmAthene’s lead product development programs include:

  • SparVax™ – a second generation recombinant protective antigen (rPA) anthrax vaccine
  • Valortim® – a fully human monoclonal antibody for the prevention and treatment of anthrax infection
  • Countermeasures for nerve agent poisoning by organophosphate compounds, including nerve gases and pesticides, whose active ingredient is the recombinant enzyme, butyrylcholinesterase (rBChE)

Statement on Cautionary Factors

Except for the historical information presented herein, matters discussed may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements preceded by, followed by, or that include the words “potential”; “believe”; “anticipate”; “intend”; “plan”; “expect”; “estimate”; “could”; “may”; “should”; “will”; “project”; “potential”; or similar statements are forward-looking statements. PharmAthene disclaims any intent or obligation to update these forward-looking statements other than as required by law. Risks and uncertainties include risk associated with the reliability of the results of the studies relating to human safety and possible adverse effects resulting from the administration of the Company’s product candidates, unexpected funding delays and/or reductions or elimination of U.S. government funding for one or more of the Company’s development programs, the award of government contracts to our competitors, unforeseen safety issues, challenges related to the development, scale-up, technology transfer, and/or process validation of manufacturing processes for our product candidates, unexpected determinations that these product candidates prove not to be effective and/or capable of being marketed as products, challenges related to the implementation of our NYSE Amex compliance plan, (for example, if the Exchange deems PharmAthene’s progress toward compliance inadequate or if PharmAthene does not satisfy the NYSE Amex continuing listing standards by January 26, 2010), as well as risks detailed from time to time in PharmAthene’s Forms 10-K and 10-Q under the caption “Risk Factors” and in its other reports filed with the U.S. Securities and Exchange Commission (the “SEC”).

Copies of PharmAthene’s public disclosure filings are available from its investor relations department and our website under the investor relations tab at www.PharmAthene.com.

Wednesday, November 24th, 2010 Uncategorized Comments Off on PharmAthene (PIP) Announces Full Exercise of Over-Allotment Option

Warren Resources (WRES) to Present at the Capital One Southcoast 2010 Energy Conference

NEW YORK, Nov. 24, 2010 (GLOBE NEWSWIRE) — Warren Resources, Inc. (Nasdaq:WRES) today announced that on Tuesday, December 7, 2010, Timothy A. Larkin, the Company’s Executive Vice President & CFO, and David E. Fleming, its Senior Vice President & General Counsel, will present at the Capital One Southcoast 2010 Energy Conference at the Omni Royal Orleans Hotel located at 621 St. Louis Street, New Orleans, Louisiana.

A copy of the presentation will be available on the Company’s website beginning Monday, December 6, 2010 at www.warrenresources.com under “Investors – Webcasts & Presentations.”

Warren Resources, Inc. is an independent energy exploration, development and production company that uses advanced technologies to systematically explore, develop and produce domestic on-shore oil and natural gas reserves. Warren’s activities are primarily focused on oil in the Wilmington field in California and natural gas in the Washakie Basin in Wyoming. The Company is headquartered in New York, New York, and its exploration and development subsidiary, Warren E&P, Inc., has offices in Casper, Wyoming and Long Beach, California.

CONTACT:  Warren Resources, Inc.
          Media Contact:
          David Fleming
          212-697-9660

company logo

Wednesday, November 24th, 2010 Uncategorized Comments Off on Warren Resources (WRES) to Present at the Capital One Southcoast 2010 Energy Conference

CNinsure (CISG) Announces Management’s Plan to Purchase Company Shares

GUANGZHOU, China, Nov. 24, 2010 (GLOBE NEWSWIRE) — CNinsure Inc. (Nasdaq:CISG), (the “Company” or “CNinsure”), a leading independent insurance intermediary company operating in China, today announced that Mr. Yinan Hu, its founder, chairman and chief executive officer, Mr. Peng Ge, its chief financial officer, and other senior management plan to purchase shares of the Company in the open market.

Mr. Yinan Hu commented: “CNinsure has continued its successful track record of delivering solid financial performance in the third quarter 2010 with total net revenues and net income attributable to CNinsure’s shareholders growing 30.4% and 42.7%, respectively. However, in view of the recent stock price which we believe has rendered our stocks significantly undervalued, we’ve decided to purchase shares of the Company in the open market. This plan reflects management’s full confidence in the growth prospects of the Company.”

About CNinsure Inc.

CNinsure is a leading independent insurance intermediary company operating in China. CNinsure’s distribution network reaches many of China’s most economically developed regions and affluent cities. The Company distributes a wide variety of property and casualty and life insurance products underwritten by both domestic and foreign insurance companies operating in China, and provides insurance claims adjusting service as well as other insurance-related services.

Forward-looking Statements

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about CNinsure and the industry. Potential risks and uncertainties include, but are not limited to, those relating to CNinsure’s limited operating history, especially its limited experience in selling life insurance products, its ability to attract and retain productive agents, especially entrepreneurial agents, its ability to maintain existing and develop new business relationships with insurance companies, its ability to execute its growth strategy, its ability to adapt to the evolving regulatory environment in the Chinese insurance industry, its ability to compete effectively against its competitors, quarterly variations in its operating results caused by factors beyond its control and macroeconomic conditions in China and their potential impact on the sales of insurance products. All information provided in this press release is as of November 24, 2010, and CNinsure undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although CNinsure believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by CNinsure is included in CNinsure’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F.

CONTACT:  CNinsure Inc.
          Oasis Qiu, Investor Relations Officer
          +86-20-61222777-850
          qiusr@cninsure.net

Wednesday, November 24th, 2010 Uncategorized Comments Off on CNinsure (CISG) Announces Management’s Plan to Purchase Company Shares

LGL (LGL) Signals Positive Outlook for 2011 in Stockholder Letter

ORLANDO, Fla., Nov. 23, 2010 (GLOBE NEWSWIRE) — The LGL Group, Inc. (NYSE Amex:LGL) (the “Company”) has told stockholders that it enters 2011 with strong customer and technology positions, and its key market segments, which include Telecommunications Infrastructure and Military, Instrumentation, Space and Avionics (“MISA”) Communications, are forecasting growth. In addition, the Company noted that its balance sheet is “significantly improved.”

The Company had recently announced its results for the three and nine months ended September 30, 2010. The Company reported earnings of $0.88 per share and revenues of approximately $12,397,000 for the three months ended September 30, 2010, compared to loss per share of ($0.43) and revenues of approximately $7,321,000 for the comparable period in 2009. For the nine months ended September 30, 2010, the Company reported earnings of $2.32 per share and revenues of approximately $35,633,000, compared to loss per share of ($1.32) and revenues of approximately $22,099,000 for the comparable period in 2009. Due to the utilization of the Company’s U.S. net operating losses, and the corresponding release of the valuation allowance against its otherwise recognizable U.S. net deferred tax assets, the Company’s estimated consolidated annual effective tax rate as of September 30, 2010 was 3.9%.

The outlook for 2011 was announced in a letter to stockholders dated November 15, 2010, by the Company’s President and Chief Executive Officer, Greg Anderson, who also defined a framework for the Company’s growth strategy that Mr. Anderson called the “four pillars of growth.” These included the following:

  • Organic investment: Continued investment in the Company’s core components business, including new product development and efforts to increase and diversify supply capacity;
  • Joint venture: Investments to gain access to intellectual property or new technologies that move the Company higher in the “product value chain”;
  • Acquisitions: Seeking opportunities that provide synergy with our core business or further expand our core competencies in connection with our strategic vision; and
  • Greenfield investment: Exploration of true greenfield opportunities that can bring new markets, new customers and diverse new technologies to the Company

In his letter, Mr. Anderson said, “We are pleased that the improvement in our business fundamentals has been recognized by the investment community. It is management’s intent to continue to create stockholder value by growing our operating platform, aligning senior management incentives with long-term value creation, and by broadening the existing stockholder base.”

Mr. Anderson also highlighted the Company’s current new product design efforts, specifically mentioning development of small format ASIC-based timing devices for very precise timing applications. He noted that such devices will serve as a building block for many new products for both the Telecom and MISA market segments.

About The LGL Group, Inc.

The LGL Group, Inc., through its wholly-owned subsidiary MtronPTI, manufactures and markets highly engineered electronic components used to control the frequency or timing of signals in electronic circuits. These devices are used extensively in infrastructure equipment for the telecommunications and network equipment industries, as well as in electronic systems for military applications, avionics, earth-orbiting satellites, medical devices, instrumentation, industrial devices and global positioning systems. The Company has operations in Orlando, Florida, Yankton, South Dakota and Noida, India. MtronPTI also has sales offices in Hong Kong and Shanghai, China.

For more information on the Company and its products and services, contact R. LaDuane Clifton, Chief Accounting Officer, The LGL Group, Inc., 2525 Shader Rd., Orlando, Florida 32804, (407) 298-2000, or visit the Company’s Web site: www.lglgroup.com.

The LGL Group logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7478

Caution Concerning Forward Looking Statements

This document includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. More detailed information about those factors is contained in the Company’s filings with the U.S. Securities and Exchange Commission.

CONTACT:  The LGL Group, Inc.
          LaDuane Clifton
          (407) 298-2000
          lclifton@lglgroup.com

          VJE Consultants
          Victor Emmanuel
          (914) 305-5198
Tuesday, November 23rd, 2010 Uncategorized Comments Off on LGL (LGL) Signals Positive Outlook for 2011 in Stockholder Letter

Uranerz (URZ) Receives Draft NRC Materials License for Nichols Ranch ISR Project

CASPER, WYOMING — (Marketwire) — 11/23/10 — Uranerz Energy Corporation (“Uranerz” or the “Company”) (TSX: URZ)(NYSE Amex: URZ)(FRANKFURT: U9E) is pleased to announce that the United States Nuclear Regulatory Commission (“NRC”) has issued in draft form the Materials License Number SUA-1597 to the Company on its Nichols Ranch In-Situ Recovery (“ISR”) Project located in Campbell and Johnson Counties, Wyoming, U.S.A.

The draft Materials License is a fundamental step in obtaining the final NRC Materials License that, along with the State of Wyoming Permit To Mine, currently in the final stages of approval, will allow the Company to develop its first ISR uranium mine in Wyoming. “The issuance of this critical document indicates substantial progress in the permitting process,” stated George Hartman, Uranerz Chief Operating Officer. “We are now preparing to initiate the construction stage.”

The issuance of the NRC Materials License in draft form allows the Company to review the document to determine if there have been any material errors or omissions, or if there are any operational, procedural, monitoring or reporting requirements in the draft Materials License that are contrary to the requirements stated in the Company’s current revised application on file with the NRC. If there are material differences in the requirements between those stated in the draft Materials License and those stated in the revised application, the Company will have the opportunity to discuss these differences with the NRC and come to a mutually acceptable resolution. After the draft Materials License review process is completed and thirty days after the final Supplemental Environmental Impact Statement is published, the NRC can then issue the final Materials License for the Nichols Ranch ISR Project; however, there can be no assurance as to when or if the NRC will issue the final Materials License for the Nichols Ranch ISR Project. The issuance of the draft Materials License does not constitute a final licensing decision by the staff of the NRC.

About Uranerz

Uranerz Energy Corporation is a U.S.-based uranium company focused on achieving near-term commercial ISR uranium production in Wyoming, the largest producer of uranium of any U.S. State. The Uranerz management team has specialized expertise in the ISR uranium mining method, and has a record of licensing, constructing, and operating commercial ISR uranium projects. The Company has already entered into long-term uranium sales contracts with two of the largest nuclear utilities in the U.S., including Exelon.

Uranerz Energy Corporation is listed on the NYSE Amex and the Toronto Stock Exchange under the symbol “URZ”, and listed on the Frankfurt Stock Exchange under the symbol “U9E”.

Further Information

For further information, please contact Derek Iwanaka, Manager of Investor Relations at 1-800-689-1659 or by email at info@uranerz.com. Alternatively, please refer to the Company’s website at www.uranerz.com, review the Company’s filings with the United States Securities and Exchange Commission (the “SEC”) at www.sec.gov, or visit the Company’s profile on SEDAR at www.sedar.com.

Forward-looking Statements

This press release may contain or refer to “forward-looking information” and “forward-looking statements” within the meaning of applicable United States and Canadian securities laws, which may include, but are not limited to, statements with respect to anticipated progress or outcome of the Company’s permitting applications, including but not limited to its application to the NRC in respect of which the draft Materials License has been issued, statements as to anticipated plant design and construction progress, and statements which predict or project the impact of the Nichols Ranch ISR Project operations. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the SEC (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We do not undertake to update forward-looking information or forward-looking statements, except as required by law.

Contacts:
Uranerz Energy Corporation
Derek Iwanaka
Manager of Investor Relations
604-689-1659 or 1-800-689-1659
604-689-1722 (FAX)
info@uranerz.com
www.uranerz.com

Tuesday, November 23rd, 2010 Uncategorized Comments Off on Uranerz (URZ) Receives Draft NRC Materials License for Nichols Ranch ISR Project

Gold Resource Corp. (GORO) Commences Mining Arista Vein System

DENVER, CO — (Marketwire) — 11/23/10 — Gold Resource Corporation (GORO) (NYSE Amex: GORO) is pleased to announce the commencement of underground mining and stockpiling of its La Arista deposit ore at the Company’s El Aguila Project. The Company is also pleased to announce the hiring of Mr. Juan Manuel Flores as Mexico Country Manager. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico.

Gold Resource Corporation’s polymetallic Arista vein deposit contains high-grade gold and silver mineralization with by-product credits of copper, lead and zinc. The Arista Vein system is made up of multiple en echelon veins with the two predominant veins being the Baja and the Arista veins. Both veins have been intercepted and as mine development continues high-grade ore is being stockpiled.

Mr. Juan Manuel Flores joins Gold Resource Corporation as Mexico Country Manager. Mr. Flores has over 30+ years of experience in the mining, metallurgy and construction industries. His experience includes country manager, general manager, operations manager, project manager, mine superintendent of different mines and processing operations, in some of the most productive underground and open pit mines in Mexico.

Mr. Flores’ mining company associations include Minera Rio Tinto SA De CV, Constellation Copper, Pan American Gold Fields, Harrison Western, Mine Finders, Minera Frisco, Industrial Minera Mexico (ex-Asarco), Minas de Bacis, Cozamin, Grupo Mexbel and Groupo Summa. Mr. Flores graduated as a Mining and Metallurgist Engineer from the Universidad Autonoma de Chihuahua and in 1973 and 1974 attended the courses of the Master of Science Program, Mineral Economics, at the Colorado School of Mines.

Gold Resource Corporation’s President, Mr. Jason Reid, stated, “We welcome Mr. Flores as he will complement our excellent team of professionals. We are building a first class underground mine under the expert direction of our Project Manager, Mr. Jorge Sanchez Del Toro, and with the addition of Mr. Flores, in concert with our dedicated staff of professionals, the Company is executing its plan for aggressive growth.”

Mr. Jason Reid continued, “Commencement of stockpiling underground Arista ore, in the fourth quarter as planned, is a significant milestone for the El Aquila Project. We are presently mining the Baja vein and developing the Arista vein on the 4th level. Our spiral decline (see photo) will be to level 5 shortly where we will add additional working faces to the mining of the Baja and Arista veins.”

“We have asked our team to evaluate an accelerated schedule to process the Arista deposit high-grade polymetallic ore as soon as practicable. We want to process our highest grade ore during this time of historically high metal prices,” stated Mr. Jason Reid.

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 has 52,998,303 shares outstanding, zero warrants and zero 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.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1432076

Contact:
Greg Patterson
Corporate Development
303-320-7708

Tuesday, November 23rd, 2010 Uncategorized Comments Off on Gold Resource Corp. (GORO) Commences Mining Arista Vein System

Affymax (AFFY) to Webcast Analyst Briefing on Hematide(TM)/Peginesatide Development Program

Nov. 23, 2010 (Business Wire) — Affymax, Inc. (NASDAQ:AFFY) today announced it will host an analyst briefing on Thursday, December 2, 2010 at 9:00 a.m. ET.

Affymax management will provide clinical, regulatory and commercial updates on Hematide™/peginesatide. There will also be a featured presentation by Dr. Steven Fishbane, lead investigator on the Phase 3 program and chief medical officer of Winthrop-University Hospital and chief of the division of Nephrology and medical director of Winthrop’s Dialysis Network.

The live webcast, to begin at 9:00 a.m. ET, may be accessed from the investors section of the company’s website at www.affymax.com. A replay will also be available for 30 days following the presentation.

About Hematide™/peginesatide

Peginesatide is a novel investigational synthetic, PEGylated peptidic compound that binds to and activates the erythropoietin receptor and thus acts as an ESA.

Affymax and Takeda are collaborating on the development of peginesatide and plan to co-commercialize the product once approved in the United States. Phase 3 clinical trials investigated the potential for peginesatide to treat anemia associated with chronic renal failure. The product, upon approval, will be commercialized outside the United States by Takeda.

About Affymax, Inc.

Affymax, Inc. is a biopharmaceutical company committed to developing novel drugs to improve the treatment of serious and often life-threatening conditions. For additional information, please visit www.affymax.com.

Affymax, Inc.

Sylvia Wheeler, 650-812-8861

Vice President, Corporate Communications

Tuesday, November 23rd, 2010 Uncategorized Comments Off on Affymax (AFFY) to Webcast Analyst Briefing on Hematide(TM)/Peginesatide Development Program

Astrotech (ASTC) Wins Contract for NASA Mission

AUSTIN, Texas, Nov. 23, 2010 (GLOBE NEWSWIRE) — Astrotech Corporation (Nasdaq:ASTC), a leading provider of commercial aerospace services, today announced that its Astrotech Space Operations subsidiary has won a fully-funded task order under the $35 million Vandenberg Air Force Base (VAFB) indefinite delivery, indefinite quantity (IDIQ) contract. The Company will provide facilities and payload processing services from its VAFB location in support of NASA’s National Polar-orbiting Operational Environmental Satellite System (NPOESS) Preparatory Project (NPP) mission scheduled to launch October 25, 2011.

Previous missions won under the VAFB IDIQ contract include the Ocean Surface Topography, Interstellar Boundary Explorer, Orbiting Carbon Observatory, GLORY and WISE missions. With the award of the NPP Mission, Astrotech has now been awarded six out of seven of the NASA VAFB IDIQ Missions awarded to date. NPP is a joint mission to extend key measurements in support of long-term monitoring of climate trends and of global biological productivity. The mission will provide atmospheric and sea surface temperatures, humidity sounding, land and ocean biological productivity, and cloud and aerosol properties.

From Titusville, Florida, Vandenberg Air Force Base, California and the Sea Launch Home Port facilities in Long Beach, California, Astrotech Space Operations provides all support necessary for government and commercial customers to successfully process their satellite hardware for launch, including advance planning; use of unique facilities; and spacecraft checkout, encapsulation, fueling, and transport. In its 29 year history, Astrotech has supported the processing of more than 285 spacecraft without impacting a customer’s launch schedule.

About Astrotech Corporation

Astrotech Corporation (Nasdaq:ASTC) is a commercial aerospace company that provides spacecraft payload processing and government services, designs and manufactures space hardware, and commercializes space technologies for use on Earth. The Company serves our government and commercial satellite and spacecraft customers with our pre-launch services from our Astrotech Space Operations (ASO) subsidiary and incubates space technology businesses now focusing on two companies: 1st Detect Corporation, which is developing a mini-mass spectrometer first developed for the International Space Station; and Astrogenetix, Inc., which is developing biotech products in space and has recently developed a vaccine candidate for Salmonella.

The Astrotech Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7456

The statements in this document may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, continued government support and funding for key space programs, product performance and market acceptance of products and services, as well as other risk factors and business considerations described in the company’s Securities & Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.

CONTACT:  Astrotech Corporation
          Scott Haywood, Corporate Marketing and Communications
          512-485-9530
          shaywood@astrotechcorp.com
Tuesday, November 23rd, 2010 Uncategorized Comments Off on Astrotech (ASTC) Wins Contract for NASA Mission