Great Panther (GPL) Silver Reports Annual Net Profit of $5 Million

VANCOUVER, BRITISH COLUMBIA–(Marketwire – 03/16/11) – GREAT PANTHER SILVER LIMITED (TSX:GPR – News)(AMEX:GPL – News) (the “Company”) is pleased to announce the audited financial results for the Company’s year ending December 31, 2010. The full version of the financial statements and the management discussion and analysis can be viewed on the Company’s web site at www.greatpanther.com or on SEDAR at www.sedar.com. To view the Company’s Annual Report on Form 20-F which includes the Company’s audited financial statements for the year ended December 31, 2010, please click on the following link http://sec.gov/edgar.shtml.

“Great Panther continued to achieve record revenue and earnings from mining operations in the fourth quarter of 2010, up 40% and 60% respectively, over 2009,” said Kaare Foy, Executive Chairman. “In addition, 2010 marks a significant milestone for the Company as we report our first year of net income.”

 

2010 ANNUAL AND FOURTH QUARTER HIGHLIGHTS

---------------------------------------------------------------------------
                                    Change from                 Change from
                            Fourth       Fourth      Full Year    Full Year
Highlights            Quarter 2010 Quarter 2009           2010         2009
---------------------------------------------------------------------------

Revenue             $ 13.8 million       Up 40% $ 42.2 million       Up 33%
Earnings from
 mining operations
 (1)                $  6.8 million       Up 60% $ 18.7 million       Up 63%
Net income          $  0.8 million     Down 25% $  5.0 million      Up 673%
Earnings per share
 - basic and
   diluted          $         0.01    no change $         0.04      Up 500%
Silver ounces
 produced (excluding
 equivalent
 ounces of gold,
 zinc and lead)            385,022      Down 1%      1,534,958        Up 5%
Silver equivalent
 produced (2)              565,660      Down 9%      2,255,801        Up 2%
Silver payable
 ounces                    369,940        Up 2%      1,428,758        Up 4%
Total cash cost per
 silver ounce (3)   $         8.41       Up 75% $         7.43       Up 33%
Average revenue per
 silver ounce sold  $        28.01       Up 59% $        21.26       Up 42%
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--  33% increase in mineral sales revenues to $42.2 million for the year
    ended December 31, 2010 from $31.7 million for 2009.
--  40% increase in mineral sales revenues to $13.8 million for the three
    months ended December 31, 2010 from $9.9 million for the same period in
    2009.
--  63% increase in earnings from mining operations to $18.7 million for the
    year ended December 31, 2010 from $11.5 million for the same period in
    2009.
--  60% increase in earnings from mining operations to $6.8 million for the
    three months ended December 31, 2010 from $4.2 million for the same
    period in 2009.
--  212% increase in cash flows from operations to $4.2 million for the year
    ended December 31, 2010 from $1.4 million in 2009.
--  $5.8 million increase in net income to $5.0 million for the year ended
    December 31, 2010 from a net loss of $0.9 million for 2009.
--  Record annual metal production of 2,255,802 silver equivalent ounces
    ("Ag eq oz"), up 2% from 2,202,456 Ag eq oz in 2009.
--  Record silver production of 1,534,957 silver ounces, up 5% from
    1,456,830 in 2009.
--  Record metal recoveries of gold and silver at Guanajuato and silver,
    lead and zinc at Topia.
--  33% increase in cash cost per silver ounce, net of by-products, to
    US$7.43 in 2010 from US$5.58 in 2009. This increase in costs during 2010
    was primarily due to lower than forecasted production, lower ore grades,
    higher smelting and refining charges and development costs at
    Guanajuato, and lower ore grades and higher mining costs at Topia.
--  75% increase in cash cost per silver ounce, net of by-products, for the
    fourth quarter of 2010 to US$8.41 from US$4.80 for the fourth quarter of
    2009 primarily due to lower than forecast production and ore grades,
    general inflation and higher power costs.
--  Updated NI 43-101 compliant mineral resource/reserve estimate for the
    Los Pozos, Santa Margarita, and Cata Clavo at the Guanajuato Mine. The
    new Measured and Indicated mineral resource contains 5,455,650 silver
    equivalent ounces. Inferred mineral resources are estimated at 2,676,924
    Ag eq oz. The Measured and Indicated mineral resources include 4,372,000
    Ag eq oz categorized as Proven and Probable mineral reserves, using a
    cut-off grade of 185 g/t silver equivalent.
--  A successful surface drilling program at the San Ignacio mine property
    in Guanajuato commenced during the third quarter of 2010 and is
    continuing throughout 2011. A $2.8 million budget has been approved for
    2011 to drill approximately 24,000 metres and to prove up as many ounces
    as possible in the highly prospective San Ignacio area which has the
    potential to be a separate mine.

RECENT DEVELOPMENTS

 

--  On February 8, 2011, the Company's shares were listed on NYSE Amex stock
    exchange in the United States under the trading symbol "GPL".
--  On February 16, 2011, Minera Mexicana El Rosario S.A. de C.V., Great
    Panther's Mexican subsidiary, was awarded its first distinction as a
    "Socially Responsible Company" for the year 2010 by CEMEFI, Centro
    Mexicano para la Filantropia (Mexican Centre for Philanthropy). This
    annual award is a milestone for the Company and has been awarded for its
    commitment to sustainable environmental, social and economic
    development.
--  Issued an update on March 7, 2011 to the ongoing mineral resource
    development at the Topia mine. The 2011 mineral resource estimate
    increased Measured and Indicated mineral resources to 7,440,000 silver
    equivalent ounces, a 36.3% increase over the 2009 resource estimate, and
    Inferred resources to 11,910,000 silver equivalent ounces, a 109.3%
    increase over the previous estimate.
--  On March 8, 2011, the Company paid off $4.05 million in two outstanding
    8% unsecured convertible loan notes due on July 14, 2011 by the issuance
    of 1,800,000 fully paid common shares of the Company at the originally
    agreed upon conversion price of $2.25 per common share.

2011 OUTLOOK

Great Panther’s three-year strategy to accelerate production to 3.8 million Ag eq oz by 2012 is now commencing its second year. New equipment has been delivered to the mines, new production areas are being added, plant performance continues to excel, plant capacity is being increased, resources have been increased and reserves defined, and exploration drill programs have made significant new discoveries of high grade mineralization.

The combined production target for 2011 has been set at 2.87 million Ag eq oz, consisting of 1.94 million oz silver, 11,200 oz gold, 1,170 tonnes lead and 1,430 tonnes zinc. Silver equivalents for 2011 have been established using prices of US$1,200/oz Au, US$20/oz Ag, US$0.90/lb Pb and Zn.

Production from Guanajuato is planned to increase steadily throughout 2011 as output from the Los Pozos and Santa Margarita areas reach full capacity, Cata production returns to previous levels, and new production is added from the Guanajuatito area. Plant throughput is estimated to be 200,000 tonnes at grades of 240g/t silver and 1.80g/t gold for metal production of 1.38 million oz silver and 10,400 oz gold, equivalent to 2.0 million Ag eq oz.

Output from Topia is estimated to increase as new mine production is added as a result of development on existing and new veins and plant capacity is increased. Plant throughput is estimated to be 40,000 tonnes with metal production of 0.56 million oz silver, 800 oz gold, 1,170 tonnes lead and 1,430 tonnes zinc, equivalent to 0.87 million Ag eq oz.

No production from the new discoveries at the San Ignacio property is included in the 2011 target. However, as resources are estimated and mine plans are developed, it is anticipated that this project will positively impact the plans for 2012. Due to the proximity of San Ignacio to the Company’s main operations at Guanajuato, any ore extracted during the development phase can be trucked to the plant for processing.

Diamond drilling in 2010, from both surface and underground, totaled 30,730 metres at Guanajuato, San Ignacio and Topia. Due to the success of this program in delineating new resources and making new discoveries, the drilling budget for 2011 has been more than doubled to over 60,000 metres, including at least 24,000 metres at San Ignacio, and 30,000 metres from underground at Guanajuato. This compares favourably with the 65,000 metres of diamond drilling originally proposed for the Company’s overall three-year growth strategy.

Some highlights from the 2011 plan include:

 

---------------------------------------------------------------------------
                         Guanajuato               Topia        Consolidated
               ------------------------------------------------------------

Tonnes milled               201,000              39,750             240,750

Silver ounces             1,376,000             562,700           1,938,700
Gold ounces                  10,400                 800              11,200
Lead tonnes                       -               1,170               1,170
Zinc tonnes                       -               1,430               1,430

Silver
 equivalent
 ounces                   1,997,000             873,000           2,870,000
Silver head
 grades
 (grams/tonne)                  240                 490
Silver
 recoveries                     88%                 90%
Production
 costs per ounce  US$5.00 - US$6.00 US$10.00 - US$12.50   US$6.50 - US$8.00
---------------------------------------------------------------------------

Operations produced 1,534,957 silver ounces and sold 1,428,758 ounces at a cash operating cost of US$7.43 per oz of silver, net of by-product credits, for the year 2010. As production increases over the next two years, unit costs will generally reduce due to efficiencies and the positive influence from higher gold production. Ranges in production costs are shown to allow for costs such as power, fuel and materials which are outside of our control and rising faster than average inflation. In addition, other costs, such as a portion of the smelting and refining costs, vary according to metal prices.

Cash flow generated from mining activities will be reinvested in operations for exploration and capital expenditures to increase resources and production. Surplus cash flow will be available for potential acquisitions as the Company continues to grow.

Both operations have demonstrated the ability to achieve higher silver production at a competitive cost per ounce and with a higher profit margin. The Company’s emphasis will be on maintaining positive operating cash flow while developing and exploring to continually increase metal production. The Company’s production strategy is to increase silver production by 20% year-on- year at continually decreasing unit costs.

“Great Panther delivered strong financial results during 2010, setting several new records,” said Robert Archer, President & CEO. “As we move into the second year of our three-year growth strategy, we expect to achieve a significant increase in production to 2.9 million silver equivalent ounces which will allow us to capitalize on the current strong precious metals prices.”

All shareholders have the ability to receive a hard copy of the Company’s complete audited financial statements free of charge upon request. Should you wish to receive Great Panther Silver’s Financial Statements or the Annual Report on Form 20-F in hard copy, please contact us at the Company toll free at 1-888-355-1766 or 604-608-1766, or e-mail info@greatpanther.com.

ON BEHALF OF THE BOARD

Robert A. Archer, President & CEO

Kaare G. Foy, Executive Chairman

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, “forward-looking statements”). Such forward-looking statements may include but are not limited to the Company’s plans for production at its Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company’s operations in a foreign jurisdiction, uncertainty of production and cost estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2010 and reports on Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

(1) “Earnings from mining operations” is a non-GAAP measure and is defined as mineral sales less cost of sales and amortization and depletion.

(2) Silver equivalent ounces in 2010 were established using prices of US$1,000/oz Au, US$16/oz Ag, US$0.80/lb Pb and US$0.80/lb Zn.

(3) The non-GAAP measure of cash cost per ounce of silver is used by the Company to manage and evaluate operating performance at each of the Company’s mines and is widely reported in the silver mining industry as a benchmark for performance, but does not have a standardized meaning.

 

GREAT PANTHER SILVER LIMITED

CONSOLIDATED BALANCE SHEETS

(Expressed in thousands of Canadian Dollars)

December 31, 2010 and 2009

---------------------------------------------------------------------------
                                                          2010        2009
---------------------------------------------------------------------------

Assets

Current assets:
  Cash and cash equivalents                        $    13,967 $    13,312
  Restricted cash                                          151           -
  Marketable securities                                    200          23
  Amounts receivable                                     9,635       5,539
  Income taxes recoverable                                 239         342
  Inventories                                            2,615       1,438
  Prepaid expenses, deposits and advances                1,240       1,585
  -------------------------------------------------------------------------
                                                        28,047      22,239

Mineral properties, plant and equipment                 17,538      14,935
---------------------------------------------------------------------------

                                                   $    45,585 $    37,174
---------------------------------------------------------------------------

Liabilities and Shareholders' Equity

Current liabilities:
  Accounts payable and accrued liabilities         $     4,724 $     2,658
  Current portion of capital lease obligations             369         801
  Current portion of promissory notes                      373         122
  Current portion of convertible loan notes              3,792           -
  Current portion of future income tax liability             -         506
  Liabilities under derivative instruments                  53           -
  -------------------------------------------------------------------------
                                                         9,311       4,087
Long-term liabilities:
  Capital lease obligations                                128          63
  Promissory notes                                          77         118
  Convertible loan notes                                     -       3,356
  Asset retirement obligations                             516       1,382
  Future income tax liability                                -       1,312
  -------------------------------------------------------------------------
                                                        10,032      10,318
Shareholders' equity:
  Share capital                                         83,470      75,910
  Contributed surplus                                    9,470      10,268
  Equity component of convertible loan notes             1,563       1,563
  Accumulated other comprehensive loss                  (3,058)        (23)
  Deficit                                              (55,892)    (60,862)
  -------------------------------------------------------------------------
                                                        35,553      26,856
Nature of operations
Commitments and contingencies
Subsequent events
---------------------------------------------------------------------------

                                                   $    45,585 $    37,174
---------------------------------------------------------------------------
---------------------------------------------------------------------------

GREAT PANTHER SILVER LIMITED

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(Expressed in thousands of Canadian Dollars, except shares data)

Years ended December 31, 2010, 2009 and 2008

---------------------------------------------------------------------------
                                          2010          2009          2008
---------------------------------------------------------------------------

Mineral sales                    $      42,206 $      31,732  $     22,445
Cost of sales                          (21,161)      (16,768)      (18,144)
Amortization and depletion of
 mineral properties, plant
 and equipment                          (2,362)       (3,494)       (4,183)
---------------------------------------------------------------------------
                                        18,683        11,470           118

Expenses:
  Amortization and depreciation             52            83           102
  Accretion on asset retirement
   obligation                              206           277           282
  Mineral property exploration
   expenditures                          7,110         1,582         6,328
  General and administrative             5,858         5,803         5,965
  Stock-based compensation                 869         2,378         1,608
  -------------------------------------------------------------------------
                                        14,095        10,123        14,285
---------------------------------------------------------------------------
                                         4,588         1,347       (14,167)

Income (expenses):
  Interest income                          116            59           241
  Interest expense                        (934)       (1,169)       (1,155)
  Debt settlement expense                    -           (51)            -
  Foreign exchange gain (loss)            (373)         (383)          113
  Gain (loss) on disposal of
   capital assets                          (16)           (2)           31
  Loss on derivative instruments          (148)            -             -
  -------------------------------------------------------------------------
                                        (1,355)       (1,546)         (770)
---------------------------------------------------------------------------

Income (loss) before provision
 for income taxes                        3,233          (199)      (14,937)

Recovery of (provision for)
 income taxes                            1,737          (668)        1,176
---------------------------------------------------------------------------

Income (loss) for the year               4,970          (867)      (13,761)

Other comprehensive income
 (loss), net of tax:
  Cumulative translation
   adjustment                           (3,025)            -             -
  Unrealized gain (loss) on
   marketable securities                   (10)           15           (43)
---------------------------------------------------------------------------

Comprehensive income (loss) for
 the year                        $       1,935 $        (852) $    (13,804)
---------------------------------------------------------------------------

Earnings (loss) per share
  Basic                          $        0.04 $       (0.01) $      (0.17)
  Diluted                        $        0.04 $       (0.01) $      (0.17)

Weighted average number of common
 shares
  Basic                            114,422,226    90,210,438    81,321,733
  Diluted                          118,932,620    90,210,438    81,321,733
---------------------------------------------------------------------------
---------------------------------------------------------------------------

GREAT PANTHER SILVER LIMITED

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in thousands of Canadian Dollars)

Years ended December 31, 2010, 2009 and 2008

---------------------------------------------------------------------------
                                          2010          2009          2008
---------------------------------------------------------------------------

Cash flows provided by (used in)
 operating activities:
  Income (loss) for the year     $       4,970 $        (867) $    (13,761)
  Items not involving cash:
    Amortization and depletion of
     mineral properties, plant and
     equipment                           2,414         3,577         4,285
    Foreign exchange (gain) loss            51          (184)          135
    Stock-based compensation               869         2,378         1,608
    Shares issued for mineral
     exploration expenditures                -             -           191
    Future income taxes                 (1,853)          603        (1,045)
    Interest accretion on
     convertible loan notes                436           628           623
    Debt settlement expense                  -            51             -
    Accretion on asset retirement
     obligations                           206           277           282
    Write-down of inventory                  -             -           241
    Write-down of mineral
     properties                             68             -             -
    Loss on derivative
     instruments                            53             -             -
    Loss (gain) on disposal of
     capital assets                         16             2           (31)
    Other                                    -            (1)           25
    -----------------------------------------------------------------------
                                         7,230         6,464        (7,447)
  Changes in non-cash operating
   working capital:
           Amounts receivable           (4,286)       (1,801)        2,278
           Inventories                  (1,086)         (471)         (358)
           Prepaid expenses,
            deposits and advances          327        (1,090)          371
           Accounts payable and
            accrued liabilities          1,926        (1,840)        1,960
           Income taxes                    104            89           (68)
  -------------------------------------------------------------------------
  Net cash provided by (used in)
   operating activities                  4,215         1,351        (3,264)
  -------------------------------------------------------------------------

Cash flows provided by (used in)
 investing activities:
  Mineral properties, plant and
   equipment                            (8,036)       (1,762)       (1,928)
  Proceeds from disposal of
   capital assets                           37             5           101
  Restricted cash                         (151)            -             -
  -------------------------------------------------------------------------
  Net cash used in investing
   activities                           (8,150)       (1,757)       (1,827)
  -------------------------------------------------------------------------

Cash flows provided by (used in)
 financing activities:
  Repayment of long-term debt                -             -          (105)
  Repayment of capital lease
   obligations                            (938)         (364)         (181)
  Repayment of promissory note            (292)          (10)            -
  Proceeds from advances on share
   subscriptions                             -             -            85
  Proceeds from exercise of
   warrants                              3,054           519           143
  Proceeds from exercise of
   options                               2,871           731           398
  Issuance of shares for cash,
   net of issue costs                     (32)        12,288             -
  -------------------------------------------------------------------------
  Net cash provided by financing
   activities                            4,663        13,164           340
  -------------------------------------------------------------------------
                                           728        12,758        (4,751)
Effect of exchange rate changes on
 cash and cash equivalents                 (73)          (52)           (1)
---------------------------------------------------------------------------

Increase (decrease) in cash and
 cash equivalents                          655        12,706        (4,752)

Cash and cash equivalents,
 beginning of year                      13,312           606         5,358
---------------------------------------------------------------------------

Cash and cash equivalents, end of
 year                            $      13,967 $      13,312  $        606
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Sterling Construction Company, Inc. (STRL) Reports 2010 Fourth Quarter and Full Year Results

EPA Releases Air Toxics Rule Expected to Create Significant Growth for ADA-ES (ADES)

Mar. 16, 2011 (Business Wire) — ADA-ES, Inc. (NASDAQ:ADES) (“ADA” or the “Company”) today announced that it expects significant growth in markets for its products and services as a result of the proposed Mercury and Air Toxics Standards (the “Air Toxics Rule”) released by the Environmental Protection Agency today. The Air Toxics Rule will require over 1100 existing and new coal-fired electricity generating plants to reduce emissions of mercury and other hazardous air pollutants (“HAPs”). ADA provides three different control technologies for mercury emissions and also provides emissions control systems for two of the other four groups of HAPs covered by the rule: dioxin/furans and acid gases. The Air Toxics Rule is scheduled to be made final this November, and the power companies will be required to comply within 36 months.

The Air Toxics Rule is expected to create a significant new market for activated carbon injection (“ACI”) equipment provided by the Company. Activated carbon (“AC”) is effective for control of emissions of both mercury and dioxins/furans. ADA has been a market leader in providing nearly 50 of the 150 ACI systems sold to date to the power industry to meet mercury limits on new power plants and existing plants in 19 states where regulations are in effect. The Air Toxics Rule could create a demand for up to 500-700 new ACI systems over the next three years, which would be a market of approximately $500 million. These systems will require approximately 800 million to one billion pounds of AC to capture mercury. ADA provides AC for the industry through its joint venture ADA Carbon Solutions (“ACS”). The first ACS production plant started up in the summer of 2010 in Red River, Louisiana and has the capacity to produce 150 million pounds of AC per year. To prepare for the additional demand created by the Air Toxics Rule, ACS has permitted a second 150 million pound per year production line at the Red River plant and is pursuing permits for up to four additional AC production plants.

ADA also provides options for reducing mercury with coal treatment technologies. CyClean is a refined coal technology, provided though ADA’s joint venture, Clean Coal Solutions, LLC (“CCS”) that has reduced mercury emissions below the proposed limits for plants with cyclone boilers burning Powder River Basin Coal (“PRB”). CyClean also qualifies for IRS Section 45 tax credits of over $6 per ton of coal. A second technology was recently licensed by Arch Coal to modify its PRB coals at the mine resulting in lower mercury emissions. The licensing agreement provides ADA with a royalty of up to $1/ton from the premium Arch receives from sales of the enhanced coal. The proposed Air Toxics Rule could create a market for this product for a significant percentage of the greater than 100 million tons per year of PRB coal mined by Arch.

Dr. Michael Durham, President and CEO of ADA, stated, “We are enthusiastic about the significant opportunities for the Company expected to result from the proposed Air Toxics Rule. We believe that the Company is well positioned to take advantage of these opportunities with a number of low capital cost approaches to emissions reduction. Our goal is to help our customers comply with the challenges of the new regulation while keeping cleaner-burning coal a viable part of the country’s energy mix.”

Dr. Durham continued, “We are also pleased to welcome EPA Regional Administrator, Jim Martin at our Littleton, Colorado offices later this afternoon to discuss the Air Toxics Rule with the media. At that time, I will discuss ADA’s state-of-the-art air pollution control technologies, the markets they address and the economic benefits of the rule.”

A presentation highlighting the opportunities enhanced by the Air Toxics Rule will be filed in an 8K later today and posted on the Company’s website at www.adaes.com under “Investor Presentations.”

About ADA-ES

ADA-ES is a leader in clean coal technology and the associated specialty chemicals, serving the coal-fueled power plant industry. Our proprietary environmental technologies and specialty chemicals enable power plants to enhance existing air pollution control equipment, minimize mercury, CO₂ and other emissions, maximize capacity, and improve operating efficiencies, to meet the challenges of existing and pending emission control regulations.

With respect to mercury emissions:

• We supply ACI systems, mercury measurement instrumentation, and related services.
• We are also a joint venture participant in ACS, which has commenced operations at its state-of-the-art AC production facility.
• Under an exclusive development and licensing agreement with Arch Coal, we are developing and commercializing an enhanced PRB coal with reduced emissions of mercury and other metals.
• Through our consolidated subsidiary, CCS, we provide our patented refined coal technology, CyClean, to enhance combustion of and reduce emissions from burning PRB coals in cyclone boilers.

In addition, we are developing CO₂ emissions technologies under projects funded by the U.S. Department of Energy and industry participants.

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, which provides a “safe harbor” for such statements in certain circumstances. The forward-looking statements include statements or expectations regarding the growth in markets for the Company’s products and services and expected growth of the Company as a result; changes in supply and demand; the expected timing, results and implementation of the Air Toxics Rule; anticipated opportunities that may result from the proposed Air Toxics Rule and the positioning of the Company to take advantage of those opportunities. These statements are based on current expectations, estimates, projections, beliefs and assumptions of our management. Such statements involve significant risks and uncertainties. Actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors, including but not limited to, changes in laws and regulations and legal challenges to them; economic conditions and market demand; impact of competition; lack of working capital; availability, cost of and demand for alternative energy sources and other technologies; risks related to ACS including lack of continued funding, demand of payment on existing loans and other obligations, our lack of control and further dilution of our interest; additional risks related to CCS including failure of its leased facilities to continue to produce coal which qualifies for IRS Section 45 tax credits, termination of the leases for such facilities, decreases in the production of refined coal by the lessee, seasonality and failure to build new facilities to meet the placed-in-service date for IRS Section 45 tax credits; technical, start-up and operational difficulties at our plants and projects; inability to obtain permits; availability of raw materials and equipment for our businesses; loss of key personnel and other factors discussed in greater detail in our filings with the Securities and Exchange Commission (SEC). You are cautioned not to place undue reliance on our forward-looking statements and to consult filings we make with the SEC for additional risks and uncertainties that may apply to our business and the ownership of our securities. Our forward-looking statements are presented as of the date made, and we disclaim any duty to update such statements unless required by law to do so.

ADA-ES, Inc.

Michael D. Durham, Ph.D., MBA, President & CEO

Mark H. McKinnies, CFO

303-734-1727

www.adaes.com

or

Investor Relations Counsel

The Equity Group Inc.

Melissa Dixon, 212-836-9613

MDixon@equityny.com

Linda Latman, 212-836-9609

LLatman@equityny.com

www.theequitygroup.com

Inovio Pharmaceuticals (INO) Licenses Non-DNA Vaccine Tumor Therapy Technology to OncoSec Medical

BLUE BELL, Pa., March 15, 2011 /PRNewswire/ — Inovio Pharmaceuticals, Inc. (NYSE Amex: INO), a leader in the development of therapeutic and preventive vaccines against cancers and infectious diseases, announced today that it has signed an agreement with OncoSec Medical Inc. providing for the sale to OncoSec of certain non-DNA vaccine technology and intellectual property relating to electroporation technology useful for electrochemical and cytokine based immune therapies for treating solid tumors. OncoSec will pay Inovio an undisclosed purchase price for the assigned assets and cash fees and a royalty on commercial product sales.

Dr. J. Joseph Kim, Inovio’s president and CEO, said: “As Inovio advances its leadership in the DNA vaccine field with several Phase II clinical studies for cervical dysplasia, leukemia, and hepatitis C virus therapies, we are pleased to enable third parties to commit their focus and resources to achieve the commercial potential of Inovio’s non-DNA vaccine assets. Prior clinical testing of our selective electrochemical tumor treatment and cytokine cancer therapies produced promising results and we are excited to monetize this electroporation asset for these applications and see its advancement by OncoSec. We wish the company every success in this endeavor.”

Mr. Punit Dhillon, OncoSec’s president and CEO, said: “We are excited to conclude this agreement with Inovio to acquire this promising technology for locally targeted cancer treatments, which have previously achieved important clinical outcomes, and immediately begin the implementation of our clinical development and commercialization plan. There are millions of people in the US alone who face detrimental cosmetic, functional and pain outcomes resulting from the invasive treatments used today for various skin and other cancers – in addition, the nature of current treatments results in high treatment and post-treatment costs to the medical system.”

The electroporation technology being sold and licensed to OncoSec is based on Inovio’s industry-leading electroporation technology platform that, in addition to DNA vaccines and immune therapeutics, can also be used to efficiently deliver a chemotherapeutic or cytokine agent for the treatment of cancer. When these chemotherapeutic or cytokine agents are injected into a selected treatment area such as a tumor and the predominantly healthy tissue in the margin surrounding a tumor, they have been shown to selectively and quickly destroy the tumor and cancer cells in the tumor margin. The chemotherapeutic agent acts by directly killing cancerous cells at the delivery site. Cytokine agents act by inducing broad, non-antigen specific immune responses that have been shown to kill cancerous cells. These therapies enable heightened concentrations of medicine to be directed to the cancer while reducing overall dosage and moderating or eliminating side effects associated with systemically-applied therapeutic approaches. This optimized delivery is enabled by Inovio’s proprietary electroporation process, which locally applies brief controlled electrical pulses to cells to temporarily and reversibly increase permeability of the cell membranes in selected tissue and dramatically increase cellular uptake of the previously injected agent as seen in previous animal studies and earlier human clinical trials.

About OncoSec Medical Inc.

OncoSec (OTC BB:ONCS.D.ob – News), based in San Diego, California, designs, develops and commercializes innovative and proprietary medical approaches to treat solid tumor cancers with unmet medical needs or where currently approved therapies are inadequate based on their efficacy level or side effect profile. The company’s therapies are based on the use of electroporation delivery in combination with an approved chemotherapeutic drug or a cytokine agent to treat solid tumors. More information is available at www.oncosec.com.

About Inovio Pharmaceuticals, Inc.

Inovio is developing a new generation of vaccines, called DNA vaccines, to treat and prevent cancers and infectious diseases. These SynCon™ vaccines are designed to provide broad cross-strain protection against known as well as newly emergent strains of pathogens such as influenza. These vaccines, in combination with Inovio’s proprietary electroporation delivery devices, have been shown to be safe and generate significant immune responses. Inovio’s clinical programs include three separate programs in Phase II clinical studies, including VGX-3100 for treating cervical dysplasia and cancer. Other Inovio clinical programs include those for avian flu (preventive) and HIV vaccines (both preventive and therapeutic). Inovio is developing universal influenza and other vaccines in collaboration with scientists from the University of Pennsylvania. Other partners and collaborators include Merck, ChronTech, National Cancer Institute, U.S. Military HIV Research Program, NIH, HIV Vaccines Trial Network, University of Southampton, and PATH Malaria Vaccine Initiative. More information is available at www.inovio.com.

This press release contains certain forward-looking statements relating to our business, including our plans to develop electroporation-based drug and gene delivery technologies and DNA vaccines and our capital resources. Actual events or results may differ from the expectations set forth herein as a result of a number of factors, including uncertainties inherent in pre-clinical studies, clinical trials and product development programs (including, but not limited to, the fact that pre-clinical and clinical results referenced in this release may not be indicative of results achievable in other trials or for other indications, that the studies or trials may not be successful or achieve the results desired, that results from one study may not necessarily be reflected or supported by the results of other similar studies and that results from an animal study may not be indicative of results achievable in human studies), the availability of funding to support continuing research and studies in an effort to prove safety and efficacy of electroporation technology as a delivery mechanism or develop viable DNA vaccines, the adequacy of our capital resources, the availability or potential availability of alternative therapies or treatments for the conditions targeted by the company or its collaborators, including alternatives that may be more efficacious or cost-effective than any therapy or treatment that the company and its collaborators hope to develop, evaluation of potential opportunities, issues involving product liability, issues involving patents and whether they or licenses to them will provide the company with meaningful protection from others using the covered technologies, whether such proprietary rights are enforceable or defensible or infringe or allegedly infringe on rights of others or can withstand claims of invalidity and whether the company can finance or devote other significant resources that may be necessary to prosecute, protect or defend them, the level of corporate expenditures, assessments of the company’s technology by potential corporate or other partners or collaborators, capital market conditions, our ability to successfully integrate Inovio and VGX Pharmaceuticals, the impact of government healthcare proposals and other factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2009, our Form 10-Q for the nine months ended September 30, 2010, and other regulatory filings from time to time. There can be no assurance that any product in Inovio’s pipeline will be successfully developed or manufactured, that final results of clinical studies will be supportive of regulatory approvals required to market licensed products, or that any of the forward-looking information provided herein will be proven accurate.

Goldwind Selects Broadwind (BWEN) to Supply Towers for Shady Oaks Project

Mar. 15, 2011 (Business Wire) — When Goldwind USA, Inc. needed a local, experienced partner to produce its 85 meter wind turbine towers in North America it turned to Broadwind Energy, Inc. (NASDAQ: BWEN). Goldwind selected Broadwind to supply approximately 70 wind turbine towers for its Shady Oaks project in Lee County, Illinois, set for installation during the second half of 2011.

Tim Rosenzweig, chief executive officer of Goldwind USA, Inc. stated, “While proximity to the project and an ability to generate opportunity for the local wind industry certainly played a role in our decision, experience, high quality and a proven track record of success were key factors in selecting Broadwind as our tower partner for the Shady Oaks project.”

With almost 800 towers produced to date, Broadwind is a leading U.S. producer of multi-megawatt wind turbine towers. The first in the U.S. to manufacture 100-meter towers, Broadwind applies existing talent to a new American challenge, tapping deep roots in steel fabrication to create the tall steel towers that enable turbines to capture maximum wind energy. Broadwind will produce the wind turbine towers for Goldwind USA’s Shady Oaks project at its Manitowoc, Wisconsin facility, which employees about 275 people.

“We are delighted with Goldwind’s decision to select Broadwind to produce towers for its first utility-scale project in the Americas,” said Peter C. Duprey, president and chief executive officer of Broadwind Energy. “Flexibility, quality and customer focus have been a foundation of our tower business, which has enabled us to work with a diverse set of domestic and international customers. Our partnership on this project is an ideal example of how U.S. and Chinese companies can work together to make the wind industry stronger while creating economic opportunity locally.”

About Broadwind Energy, Inc.

Broadwind Energy (NASDAQ: BWEN) applies decades of deep industrial expertise to innovate integrated solutions for customers in the energy and infrastructure markets. From gears to wind towers, to comprehensive remanufacturing of gearboxes and blades, to operations and maintenance services, and heavy industries, we have solutions for the energy needs of the future. With facilities throughout the U.S., Broadwind Energy’s talented team of more than 800 employees is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com.

About Goldwind USA, Inc.

Chicago-based Goldwind USA was established in early 2010 and is a wholly owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd. Goldwind USA leverages a global network of facilities and partnerships to offer a variety of wind power solutions including sales, manufacturing, operations and other services to customers throughout the Americas. With offices and facilities throughout Asia, Europe and the Americas, Xinjiang Goldwind Science & Technology Co., Ltd is ranked among the leading wind turbine manufacturers in the world.

Forward-Looking Statements

This news release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 – that is, statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words. These forward-looking statements involve certain risks and uncertainties that ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. The Company’s forward looking statements may include or relate to the Company’s plans to grow its business and its expectations regarding its operations and the business of its customers; the sufficiency of the Company’s working capital; and the Company’s expectations regarding the state of the wind energy market generally, as well as the Company’s expectations relating to the economic downturn and the potential impact on its business and the business of its customers. For further discussion of risks and uncertainties, individuals should refer to the Company’s SEC filings. The Company undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. All forward-looking statements are qualified in their entirety by this cautionary statement.

Broadwind

John Segvich, 630.995.7137

john.segvich@bwen.com

or

Goldwind USA

Colin Mahoney, 617.970.4418

cmahoney_ext@goldwindamerica.com

Houston Wire & Cable Company (HWCC) Reports Results for the Fourth Quarter and Year Ended

HOUSTON, TX — (Marketwire) — 03/15/11 — Houston Wire & Cable Company (NASDAQ: HWCC) (the “Company”) announced operating results for the fourth quarter and fiscal year ended December 31, 2010.

Selected highlights for the quarter:

• Record sales of $93.5 million
• Gross margin up 110 basis points over the fourth quarter of 2009
• Revenues increased 47.3% over the fourth quarter of 2009
• Net income up 54.3% over fourth quarter of 2009
• Fully diluted earnings per share (EPS) were $0.16
• The Company declared a dividend of $0.085 per share
• Increased market share with the addition of 98 new customers

Revenues in the fourth quarter of 2010 increased 47.3% when compared to the fourth quarter of 2009. The Company’s organic sales growth was 22.5%. The businesses acquired in late June contributed sales of $15.7 million, nearly all of which was Maintenance, Repair and Operations (MRO) sales.

Management estimates that commodity inflation favorably impacted sales by approximately 7% during the fourth quarter, as compared to 2009. As in prior quarters, previously committed futures for several major projects mitigated the effect of commodity inflation in the quarter. Management estimates that organic sales within the growth initiatives encompassing Utility Power Generation, Environmental Compliance, Engineering & Construction, Industrials and LifeGuard™, our proprietary private-label product, increased by 30 – 35% over the prior year quarter. MRO organic sales increased by an estimated 7 – 10% over the fourth quarter of 2009. Project bookings and backlog also remained solid due to previously funded backlog demand and continued penetration into our targeted markets. Sales from the acquired companies were within our expectations, as the fourth quarter is generally the slowest quarter of the year. In addition, business was negatively impacted by the status of the offshore drilling industry in the Gulf of Mexico.

During the quarter, gross profit increased 55.5% to $19.8 million from the fourth quarter of 2009. Gross margin increased by 110 basis points over the fourth quarter of 2009 and reached its highest level of the year at 21.1%.

Operating expenses increased by 56.8% from the fourth quarter of 2009, due to the businesses acquired in June 2010. The operating expenses of our historical company increased at a lesser rate than the sales activity expansion. Acquisition expenses for the quarter were $0.3 million. Interest expense of $0.4 million was significantly higher than the fourth quarter of 2009, as average debt levels rose from $16.2 million in 2009 to $54.9 million in 2010 as a result of the June 2010 acquisitions. Operating income of $5.1 million was 51.7% higher than 2009 and up 25.2% sequentially from the third quarter of 2010. Net income increased 54.3% over 2009 and was 30.0% higher than the third quarter of 2010. The effective tax rate for the quarter of 38.3% decreased from 40.4% in the third quarter, as the third quarter tax rate was impacted by non-deductible acquisition expenses.

Year-end Results

Sales for the year increased by 21.1% to $308.5 million, as the June 2010 acquisitions contributed 14.8% of the total increase. Gross profit increased 18.2% to $62.6 million in 2010 from $53.0 million in 2009. Operating income improved 9% from 2009, after absorbing acquisition expenses of $0.9 million. Net income increased 7.3% and fully diluted EPS increased from $0.45 to $0.49.

Chuck Sorrentino, President and Chief Executive Officer, commented, “During the fourth quarter, we were pleased to see continued indications of a broad market recovery, increased customer activity and improving demand. We are encouraged by this trend, but remain mindful that we are a later cycle business that lags macro market indicators and as such, must continue to exercise discipline with cost controls and revenue expectations as the business environment slowly improves. I was very pleased with our performance in the latter part of the year. Gross margins continue improving and we continue gaining market share with the addition of new customers. Project business was good in the fourth quarter and the outlook remains solid.

“Momentum appears to be building for 2011, as the rate of growth in our booked orders in the fourth quarter was greater than our sales. Integration of the two acquired companies is going well and we are on schedule. We expect 2011 to be an exciting year for our Company as we look forward to leveraging our combined national sales and distribution network to serve complementary end markets, including oil and gas, marine transportation, utilities, infrastructure and industrial.

“On behalf of the Board of Directors, I would like to thank our team for their commitment to our Company and their outstanding service to our customers. I would also like to thank our customers for their long-term relationships and our investors for their confidence and support.”

Conference Call

The Company will host a conference call to discuss fourth quarter and year-end results on Tuesday, March 15th at 10:00 am CT. Hosting the call will be Charles Sorrentino, President and Chief Executive Officer, and Nicol Graham, Vice President and Chief Financial Officer.

A live audio web cast of the call will be available on the Investor Relations section of the Company’s website, www.houwire.com.

Approximately two hours after the completion of the live call, a telephone replay will be available until March 22, 2010.

                 Replay Dial In:               888.203.1112
                 International Replay:         719.457.0820
                 Confirmation Code:            5990361

About the Company

With 35 years experience in the industry, Houston Wire & Cable Company is one of the largest providers of wire and cable in the U.S. end user market. Headquartered in Houston, Texas, HWCC has sales and distribution facilities strategically located throughout the nation.

Standard stock items available for immediate delivery include continuous and interlocked armor, instrumentation, medium voltage, high temperature, portable cord, power cables, private branded products, including LifeGuard™, a low-smoke, zero-halogen cable, mechanical wire and cable and related hardware, including wire rope, lifting products and synthetic rope and slings. HWCC’s comprehensive value-added services include same-day shipping, knowledgeable sales staff, inventory management programs, just-in-time delivery, logistics support, customized internet-based ordering capabilities and 24/7/365 service.

Forward-Looking Statements

This release contains comments concerning 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. Investors are cautioned that forward-looking statements are inherently uncertain and projections about future events may and often do vary materially from actual results.

Other risk factors that may cause actual results to differ materially from statements made in this press release can be found in the Company’s Annual Report on Form 10-K and other documents filed with the SEC. These documents are available under the Investor Relations section of the Company’s website at www.houwire.com.

Any forward-looking statements speak only as of the date of this press release and the Company undertakes no obligation to publicly update such statements.

                        Houston Wire & Cable Company
                        Consolidated Balance Sheets

                                                          December 31,
                                                    -----------------------
                                                       2010         2009
                                                    ----------   ----------
                                                     (In thousands, except
                                                          share data)
Assets
Current assets:
  Accounts receivable, net                          $   67,838   $   46,859
  Inventories, net                                      67,503       61,325
  Deferred income taxes                                  2,399        1,776
  Prepaids                                                 763        3,649
                                                    ----------   ----------
Total current assets                                   138,503      113,609

Property and equipment, net                              6,255        3,169
Intangible assets, net                                  15,557           --
Goodwill                                                25,082        2,362
Deferred income taxes                                       --        2,855
Other assets                                                93           19
                                                    ----------   ----------
Total assets                                        $  185,490   $  122,014
                                                    ==========   ==========

Liabilities and stockholders' equity
Current liabilities:
  Book overdraft                                    $    3,055   $      907
  Trade accounts payable                                19,987       11,610
  Accrued and other current liabilities                 19,781       10,924
  Income taxes                                           1,036          281
                                                    ----------   ----------
Total current liabilities                               43,859       23,722

Debt                                                    54,825       17,479
Other long-term obligations                                141           --
Deferred income taxes                                      945           --
                                                    ----------   ----------
Total liabilities                                       99,770       41,201
                                                    ----------   ----------

Stockholders' equity:
  Preferred stock, $0.001 par value; 5,000,000
   shares authorized, none issued and outstanding           --           --
  Common stock, $0.001 par value; 100,000,000
   shares authorized: 20,988,952 shares issued:
   17,748,487 and 17,732,737 shares outstanding at
   December 31, 2010 and 2009, respectively                 21           21
  Additional paid-in capital                            58,642       56,609
  Retained earnings                                     80,187       77,571
  Treasury stock                                       (53,130)     (53,388)
                                                    ----------   ----------
Total stockholders' equity                              85,720       80,813
                                                    ----------   ----------

Total liabilities and stockholders' equity          $  185,490   $  122,014
                                                    ==========   ==========

                      Houston Wire & Cable Company
                    Consolidated Statements of Income

                             Three Months Ended            Year Ended
                                December 31,              December 31,
                          ------------------------  ------------------------
                              2010         2009         2010         2009
                          -----------  -----------  -----------  -----------

Sales                     $    93,549  $    63,526  $   308,522  $   254,819
Cost of sales                  73,793       50,819      245,932      201,865
                          -----------  -----------  -----------  -----------
Gross profit                   19,756       12,707       62,590       52,954

Operating expenses:
  Salaries and
   commissions                  7,800        4,714       25,281       20,596
  Other operating
   expenses                     6,102        4,496       20,565       18,023
  Depreciation and
   amortization                   766          142        1,738          563
                          -----------  -----------  -----------  -----------
Total operating expenses       14,668        9,352       47,584       39,182
                          -----------  -----------  -----------  -----------

Operating income                5,088        3,355       15,006       13,772
Interest expense                  378          117          844          520
                          -----------  -----------  -----------  -----------
Income before income
 taxes                          4,710        3,238       14,162       13,252
Income taxes                    1,806        1,356        5,543        5,220
                          -----------  -----------  -----------  -----------
Net income                $     2,904  $     1,882  $     8,619  $     8,032
                          ===========  ===========  ===========  ===========

Earnings per share:
  Basic                   $      0.16  $      0.11  $      0.49  $      0.46
                          ===========  ===========  ===========  ===========
  Diluted                 $      0.16  $      0.11  $      0.49  $      0.45
                          ===========  ===========  ===========  ===========
Weighted average common
 shares outstanding:
  Basic                    17,662,291   17,652,737   17,657,682   17,648,696
                          ===========  ===========  ===========  ===========
  Diluted                  17,731,157   17,683,349   17,710,123   17,665,924
                          ===========  ===========  ===========  ===========

Dividend declared per
 share                    $     0.085  $     0.085  $      0.34  $      0.34
                          ===========  ===========  ===========  ===========

                        Houston Wire & Cable Company
                    Consolidated Statements of Cash Flows

                                                    Year Ended December 31,
                                                    -----------------------
                                                       2010         2009
                                                    ----------   ----------
Operating activities
Net income                                          $    8,619   $    8,032

Adjustments to reconcile net income to net cash
 provided by operating activities:
   Depreciation and amortization                         1,738          563
   Amortization of capitalized loan costs                   46           99
   Amortization of unearned stock compensation           2,260        2,205
   Provision for doubtful accounts                          93           --
   Provision for returns and allowances                   (118)        (109)
   Provision for inventory obsolescence                    734          529
   (Gain) loss on disposals of property and
    equipment                                               26          (15)
   Deferred income taxes                                (1,603)        (741)
   Changes in operating assets and liabilities:
      Accounts receivable                               (9,785)       4,048
      Inventories                                        1,059       11,606
      Prepaids                                           2,954       (2,820)
      Other assets                                         354          (31)
      Book overdraft                                     1,668       (4,026)
      Trade accounts payable                             5,010        1,519
      Accrued and other current liabilities              5,466         (758)
      Long term liabilities                                 (3)          --
      Income taxes                                         755       (1,363)
                                                    ----------   ----------
Net cash provided by operating activities               19,273       18,738

Investing activities
   Expenditures for property and equipment                (459)        (462)
   Proceeds from disposals of property and
    equipment                                              956           19
   Cash paid for acquisition                           (51,162)          --
                                                    ----------   ----------
Net cash used in investing activities                  (50,665)        (443)

Financing activities
   Borrowings on revolver                              352,276      255,829
   Payments on revolver                               (314,930)    (268,158)
   Proceeds from exercise of stock options                  42           22
   Payment of dividends                                 (6,003)      (6,001)
   Excess tax benefit for options                            7           13
   Purchase of treasury stock                               --           --
                                                    ----------   ----------
Net cash provided by (used in) financing activities     31,392      (18,295)
                                                    ----------   ----------

Net change in cash                                          --           --
Cash at beginning of year                                   --           --
                                                    ----------   ----------

Cash at end of year                                 $       --   $       --
                                                    ==========   ==========

Supplemental disclosures
   Cash paid during the year for interest           $      743   $      514
                                                    ==========   ==========

   Cash paid during the year for income taxes       $    6,191   $    7,352
                                                    ==========   ==========

CONTACT:
Hope M. Novosad
Manager, Investor Relations
Direct: 713.609.2110
Fax: 713.609.2168
Email Contact

QKL Stores Inc. (QKLS) to Participate in the Roth Conference; Announces Preliminary 4Q10 Financial Results

ICO Global (ICOG) and DISH Networks Enter into Implementation and Restructuring Support Agreements

Mar. 15, 2011 (Business Wire) — ICO Global Communications (Holdings) Limited (NASDAQ: ICOG) (“ICO”) announced today that it has entered into a Restructuring Support Agreement and Implementation Agreement with DISH Network Corporation (NASDAQ: DISH) (“DISH”). Pursuant to these agreements, ICO has agreed to support a proposed amended Investment Agreement between DISH and ICO’s subsidiary, DBSD North America, Inc. (“DBSD”), has granted to DISH options to acquire certain ICO assets, and has agreed to grant to DBSD certain spectrum priority rights. These agreements do not diminish or otherwise alter ICO’s obligations to Jay & Jayendra (Pty) Ltd, nor do they affect in any manner ICO’s ongoing litigation with The Boeing Company and its subsidiary, Boeing Satellite Services, Inc. ICO retains all rights to such litigation.

As contemplated by these agreements, DISH will, later today, seek approval of the amended Investment Agreement by the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”). Under the terms of the amended Investment Agreement and related plan of reorganization, DISH will offer to purchase all of the outstanding secured debt in DBSD and will agree to pay all outstanding unsecured creditor claims in full.

As consideration for ICO’s commitments under these agreements, DISH will pay ICO approximately $324.5 million, with $35 million paid within five days after Bankruptcy Court approval of the amended Investment Agreement, and all but $10 million of the remainder paid approximately thirty days after such approval.

If the Bankruptcy Court approves the amended Investment Agreement between DBSD and DISH, ICO will enter into a tax matters agreement with DISH that defines various tax‐related obligations and commitments. The tax matters agreement will not have any significant impact on ICO’s existing or future net operating losses. In addition, if DBSD emerges from bankruptcy pursuant to the terms of the related plan of reorganization, ICO will facilitate DBSD’s transition from bankruptcy by entering into a license and radio spectrum coordination agreement with DBSD and a transition services agreement with DBSD.

About ICO

ICO is based in Kirkland, Washington. For more information, visit www.ico.com. ICO’s common stock is publicly traded on NASDAQ under the ticker symbol ICOG.

ICO Global Communications

Christopher Doherty, 703-964-1414

Christopher.Doherty@ico.com

InfuSystem Holdings, Inc. (INFU) Reports $13.1 Million of Revenues and $3.7 Million of Adjusted EBITDA for the Fourth Quarter of 2010

MADISON HEIGHTS, Mich., March 10, 2011 (GLOBE NEWSWIRE) — InfuSystem Holdings, Inc. (NYSE Amex:INFU), the leading provider of infusion pumps and related services, today reported results for the fourth quarter and fiscal year ended December 31, 2010.

Fiscal 2010: Continued Growth in Revenues, Adjusted EBITDA and Cash from Operations

“We are pleased with the fourth quarter and fiscal year performance and the reporting of the thirteenth straight quarter of year over year growth for the company. With the continued steady growth of our core business and strategic initiatives to broaden our product and service offering, we are more confident than ever in the long-term outlook for the company and industry as InfuSystem continues to successfully execute its long-term business strategy. We are a healthcare growth company with healthy profits” said Sean McDevitt, Chairman and Chief Executive officer.

Revenues for fiscal 2010 were $47.2 million, up 21 percent from $39.0 million in the prior year. The increase in revenues is primarily related to obtaining business at new customer facilities, increases from existing customers and expansion into new product lines such as those associated the First Biomedical acquisition.

Gross profit for fiscal 2010 was $33.5 million, up 17 percent from $28.6 million in the prior year. It represented 71 percent of revenues for the latest year, compared with 73 percent in fiscal 2009. The decrease in the gross margin percentage was primarily related to higher pump depreciation and a higher mix of pump sales and services, as compared to third party billings.

Selling, general and administrative expenses (SG&A) were $34.5 million, 48 percent higher than fiscal 2009’s $23.3 million. As a percent of revenues, SGA was 73 percent for the latest year, compared to 60% in fiscal 2009. The increases were primarily related to an increase in stock based compensation, along with the pre/post acquisition expenses of acquired business. Excluding the one-time expenses, on a normalized basis SGA, as a percent of revenues, is approximately the same as the 60% in fiscal 2009.

Adjusted EBITDA was $14.0 million for the latest fiscal year, up 8 percent from $12.9 million a year ago. The company utilizes Adjusted EBITDA as a means to measure its operating performance. A reconciliation from Adjusted EBITDA, a non-GAAP measure, to net income can be found in the appendix.

Other loss for the latest year was $2.3 million versus $3.6 million other loss a year ago, reflecting reduced interest expense, gain on derivatives, and extinguishment of long-term debt. As a result, the fiscal 2010 net loss was $1.9 million, equal to $0.09 loss per diluted share, versus a $0.8 million net income, equal to $0.04 income per diluted share, a year earlier.

Fourth Quarter Growth in Revenues and Adjusted EBITDA

Revenues for the latest quarter were $13.1 million, up 23 percent from $10.7 million for the prior-year period. Gross profit increased to $9.0 million or 16% from $7.8 million in the fiscal 2009 fourth quarter. SG&A increased to $12.0 million from $6.4 million. Other expense of $0.4 million compared with $0.3 million of other income a year ago. The net loss for the most recent quarter was $2.2 million, equal to $0.11 per diluted share, versus the prior year quarter’s net income of $1.0 million, equal to $0.05 per diluted share. Adjusted EBITDA for the latest quarter was $3.7 million, up 15 percent from $3.2 million for the prior-year period.

Financial Condition

Net cash provided by operations for fiscal 2010 was $10.8 million, up 11 percent from $9.7 million for the prior year. The latest year’s results reflected higher levels of stock based compensation, depreciation and amortization of goodwill, accounts payable, inventory and amounts accrued. The company reduced capital expenditures from $4.6 million in fiscal 2009 to $2.4 million and paid $16.6 million in cash for acquisition of First Biomedical in June 2010. The cash balance decreased by $2.7 million and the company ended the year with a cash balance of $5.0 million with $26.6 million in long-term debt, net of current.

Conference Call

InfuSystem Holdings, Inc. will host a conference call to share the results of its fourth quarter and full-year fiscal 2010 results on Thursday, March 10, at 10:00 a.m. Eastern Time. Chairman and Chief Executive Officer Sean McDevitt and Jim Froisland, Chief Financial Officer, will discuss the company’s financial performance and answer questions from the financial community.

The company invites interested investors to listen to the presentation, which will be carried live on the company’s Web site: www.infusystem.com in the Investors section. To participate by telephone, the dial-in number is 800-446-1671 with confirmation number 29138075. Those who wish to listen should either dial in or go to the Web site several minutes prior to the call to register. A replay of the call can be accessed by dialing 888-843-7419, pass-code 29138075#. An online archive of the conference call will remain on the company’s Web site for the following 30 days.

About InfuSystem Holdings, Inc.

InfuSystem Holdings, Inc. is the leading national provider of infusion pumps and related services to hospitals, oncology practices and other alternate site healthcare providers.  Headquartered in Madison Heights, Michigan, the company delivers local, field-based customer support, and also operates Centers of Excellence in Michigan, Kansas, California, and Ontario, Canada. The company’s stock is traded on the NYSE Amex under the symbol INFU.

Forward-Looking Statements

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially form those predicted by such forward-looking statements. These risks and uncertainties include general economic conditions, as well as other risks, detailed from time to time in the company’s publicly filed documents.

Additional information about InfuSystem Holdings, Inc. is available at www.infusystem.com.

FINANCIAL TABLES FOLLOW

CONTACT: INVESTOR CONTACT:
         Pat LaVecchia
         Vice Chairman
         Info@InfuSystem.com
         800-962-9656

Spectrum Pharmaceuticals (SPPI) Reports Profitable Fourth Quarter and Record Revenue Growth

Mar. 10, 2011 (Business Wire) — Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology, today reported financial results for the three and 12-months ended December 31, 2010.

“We are proud of our many accomplishments in 2010, especially the record revenue growth of both of our proprietary, marketed, anti-cancer drugs, FUSILEV^® and ZEVALIN^®, and the licensing of belinostat, a late-stage, potentially best-in-class HDAC inhibitor for potentially multiple indications,” said Rajesh C. Shrotriya, MD, Chairman, Chief Executive Officer, and President of Spectrum Pharmaceuticals, Inc. “We remain committed to lymphoma. The cash generated by the record product sales provides us greater opportunity to help cancer patients by initiating additional studies for ZEVALIN, such as in Diffuse Large B-Cell Lymphoma, and for our other pipeline drugs.”

Fourth Quarter Results Ended December 31, 2010 (All #s are approximates)

Consolidated revenue of $34 million was comprised of product sales of $31 million ($8 million from ZEVALIN, $23 million from FUSILEV) and $3 million from licensing fees. This represents a more than three-fold increase over the $9 million in consolidated revenue in the fourth quarter of 2009, which was comprised of $5 million from product sales and the balance from licensing and milestone fees. The Company recorded net income of $4 million, or $0.09 per basic and $0.08 per diluted share, compared to net income of $10 million, which includes income of $20 million from the change in the fair value of common stock warrant liability, or $0.21 per basic and $0.20 per diluted share, in the fourth quarter of 2009. Total research and development expenses were $7 million, as compared to $4 million in the same period of 2009, primarily due to in-licensing of compounds and continued investment in clinical trials. Selling, general and administrative expenses were $13 million compared to $11 million in the same period in 2009, an increase primarily attributable to sales and marketing expenses, including payroll costs and non cash stock compensation costs incurred with the sales of ZEVALIN and FUSILEV.

12-Month Results Ended December 31, 2010 (All #s are approximates)

Consolidated revenue of $74 million was comprised of product sales of $61 million ($29 million from ZEVALIN, $32 million from FUSILEV) and $13 million from licensing fees. This represents a nearly two-fold increase from $38 million in consolidated revenue recorded in 2009, which was comprised of $28 million from product sales ($16 million from ZEVALIN, $12 million from FUSILEV) and $10 million from milestone and licensing fees. The Company recorded a net loss attributable to stockholders’ of $49 million, or ($0.99) per basic and diluted share, compared to a net loss attributable to stockholders’ of $19 million, or ($0.48) per basic and diluted share, in the same period of 2009. Total research and development expenses were $57 million, as compared to $21 million in the same period of 2009, primarily due to the $30 million upfront payment for the licensing of belinostat, and a one-time charge of $3 million, representing the fair value of 751,956 shares of our common stock issued as consideration for the acquisition and licensing of compounds. Selling, general and administrative expenses were $49 million compared to $34 million in the same period in 2009 an increase primarily due to the $14 million increase attributable to sales and marketing expenses, including payroll costs, incurred with the increase in sales of ZEVALIN and FUSILEV.

Cash, cash equivalents and investments as of December 31, 2010 aggregated $104 million, as compared to $125 million as of December 31, 2009, a net decrease of $21 million including the $30 million used for the in-licensing of belinostat.

There are approximately 51 million shares of common stock issued and outstanding at December 31, 2010. Approximately 7 million warrants expired unexercised in 2010.

2011/2012 Corporate Events and Potential Valuation Catalysts

FUSILEV^®

• FDA PDUFA Action date in metastatic colorectal cancer by April 29, 2011.

ZEVALIN^®

• Anticipate FDA decision on bioscan removal before the end of 2011;
• Initiation of a Diffuse Large B-Cell Lymphoma trial in 2011.

Belinostat

• Complete enrollment in registrational study and file rolling NDA for Peripheral T-Cell Lymphoma in 2011/2012.

Apaziquone

• Anticipate filing NDA for bladder cancer in 2012.

Conference Call

Thursday, March 10, 2011 @ 1:30 p.m. Eastern/10:30 a.m. Pacific

Domestic: (877) 837 – 3910

International: (973) 796 – 5077

Webcast and replays: www.sppirx.com

Audio replays will be available through April 1, 2011

Domestic: (800) 642-1687, passcode 43097899

International: (706) 645-9291, passcode 43097899

About ZEVALIN^® and the ZEVALIN Therapeutic Regimen

ZEVALIN (ibritumomab tiuxetan) is indicated for the treatment of patients with previously untreated follicular non-Hodgkin’s Lymphoma (NHL), who achieve a partial or complete response to first-line chemotherapy. ZEVALIN is also indicated for the treatment of patients with relapsed or refractory, low-grade or follicular B-cell non-Hodgkin’s lymphoma.

ZEVALIN is a CD20-directed radiotherapeutic antibody. The ZEVALIN therapeutic regimen consists of three components: rituximab, Indium-111 (In-111) radiolabeled ZEVALIN for imaging, and Yttrium-90 (Y-90) radiolabeled ZEVALIN for therapy. The ZEVALIN therapeutic regimen is a form of cancer therapy called radioimmunotherapy. Radioimmunotherapy (RIT) is an innovative form of cancer treatment with a mechanism of action that is different from traditional chemotherapy. RIT builds on the combined effect of a targeted biologic monoclonal antibody augmented with the therapeutic effects of a beta-emitting radioisotope.

Full prescribing information can be found at www.ZEVALIN.com.

About FUSILEV^® (levoleucovorin) for Injection

FUSILEV, a novel folate analog, is available in vials for injection as freeze-dried powder. FUSILEV rescue is indicated after high-dose methotrexate therapy in osteosarcoma. FUSILEV is also indicated to diminish the toxicity and counteract the effects of impaired methotrexate elimination and of inadvertent overdosage of folic acid antagonists. FUSILEV (levoleucovorin or (6S)-leucovorin) is the only commercially available formulation containing only the pharmacologically active isomer of leucovorin.

Full prescribing information can be found at www.FUSILEV.com.

About Spectrum Pharmaceuticals, Inc.

Spectrum Pharmaceuticals is a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology. The Company’s strategy is comprised of acquiring, developing and commercializing a broad and diverse pipeline of late-stage clinical and commercial products. The Company markets two oncology drugs, FUSILEV and ZEVALIN and has two drugs, apaziquone and belinostat, in late stage development along with a diversified pipeline of novel drug candidates. The Company has assembled an integrated in-house scientific team, including clinical development, medical research, regulatory affairs, biostatistics and data management, formulation development, and has established a commercial infrastructure for the marketing of its drug products. The Company also leverages the expertise of its worldwide partners to assist in the execution of its strategy. For more information, please visit the Company’s website at www.sppirx.com.

Forward-looking statement – This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements include but are not limited to statements that relate to our business and its future, including certain company milestones, Spectrum’s ability to identify, acquire, develop and commercialize a broad and diverse pipeline of late-stage clinical and commercial products, leveraging the expertise of partners and employees, around the world to assist us in the execution of our strategy, and any statements that relate to the intent, belief, plans or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that our existing and new drug candidates, may not prove safe or effective, the possibility that our existing and new drug candidates may not receive approval from the FDA, and other regulatory agencies in a timely manner or at all, the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs, the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail, our lack of revenues, our limited marketing experience, our dependence on third parties for clinical trials, manufacturing, distribution and quality control and other risks that are described in further detail in the Company’s reports filed with the Securities and Exchange Commission. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law.

SPECTRUM PHARMACEUTICALS, INC. ®, ZEVALIN®, and FUSILEV® are registered trademarks of Spectrum Pharmaceuticals, Inc. REDEFINING CANCER CARE™ and the Spectrum Pharmaceutical logos are trademarks owned by Spectrum Pharmaceuticals, Inc.

^© 2011 Spectrum Pharmaceuticals, Inc. All Rights Reserved.

Non-GAAP Financial Measures

The non-GAAP financial measures contained herein are a supplement to the corresponding financial measures prepared in accordance with generally accepted accounting principles (GAAP). The non-GAAP financial measures presented exclude the items summarized in the below table. Management believes that adjustments for these items assist investors in making comparisons of period-to-period operating results and that these items are not indicative of the Company’s on-going core operating performance.

Management uses non-GAAP net income (loss) in its evaluation of the Company’s core after-tax results of operations and trends between fiscal periods and believes that these measures are important components of its internal performance measurement process. Management believes that providing these non-GAAP financial measures allows investors to view the Company’s financial results in the way that management views the financial results.

The non-GAAP financial measures presented herein have certain limitations in that they do not reflect all of the costs associated with the operations of the Company’s business as determined in accordance with GAAP. Therefore, investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The non-GAAP financial measures presented by the Company may be different from the non-GAAP financial measures used by other companies.

Spectrum Pharmaceuticals

Paul Arndt

Senior Manager, Investor Relations

949-788-6700×216

BIOLASE (BLTI) Reports Fourth Quarter and Year-End Results

IRVINE, CA — (Marketwire) — 03/10/11 — BIOLASE Technology, Inc. (NASDAQ: BLTI) —

-- $9.7 Million in Q4 Revenue

-- Q4 GAAP Profit of $174,000, or $0.01 per Share

-- Q4 Non-GAAP Profit of $787,000, or $0.03 per Share

-- 2011 Revenue Guidance Increasing to $60 - $65 Million Based on
   Anticipated Launch of New Imaging Products in Q3 from $55 - $60 Million

-- Q1 Guidance Increasing to $9.25 - $9.75 Million, up from $8.75 - $9.25
   Million

BIOLASE Technology, Inc., the World’s leading dental laser manufacturer and distributor, today reported unaudited operating results for its fourth quarter and year ended December 31, 2010. The Company’s results for the fourth quarter ended December 31, 2010, underline a return to sequential revenue growth and profitability.

Net revenue for the 2010 fourth quarter was $9.7 million, up 56 percent sequentially from $6.2 million in the 2010 third quarter and down approximately seven percent from $10.4 million in the same quarter for 2009. Revenue, excluding license fees and royalties for the fourth quarter of 2010, was $9.5 million, up 58 percent sequentially from $6.0 million in the 2010 third quarter, driven by BIOLASE’s new direct sales business model implemented during the fourth quarter. The majority of sales in the 2010 fourth quarter were from the sale of the Company’s previous flagship Waterlase MD Turbo™ laser. Revenue of approximately $700,000 of the new wireless iLase™ five Watt diode laser system was deferred until the first quarter of 2011, due to the limited availability of a component part. In response, BIOLASE is undergoing evaluation of additional suppliers to meet the demand for the iLase system.

Net revenue for the fiscal year ended December 31, 2010 was $26.2 million, a 39 percent decrease compared to $43.3 million in the prior year. The year-over-year decrease in revenue in the 2010 fourth quarter and year was in part due to reduced domestic laser purchases by distributor Henry Schein, Inc. (NASDAQ: HSIC). However, sales to Henry Schein worldwide decreased as a percentage of product revenue from 39 percent in the 2010 third quarter to approximately 30 percent in the fourth quarter of 2010, and is expected to stabilize to approximately 20 percent of total revenue in fiscal year 2011.

As announced at the end of the 2010 third quarter, BIOLASE entered into a new North American distribution agreement with Henry Schein, changing its distribution relationship from exclusive to non-exclusive. In addition, Henry Schein is on a non-exclusive basis in certain international markets where the Company does not have exclusive distributors, but continues to be exclusive only in certain high-performing countries with associated minimum purchase commitments in those markets.

Federico Pignatelli, the Company’s Chairman and CEO since August 27, 2010, said, “Our new business model, combined with the refocusing of the entire organization, resulted in sequential growth and regained net profitability in the fourth quarter of 2010. In addition, our direct sales force has gained momentum into 2011 as our new products, in particular our new flagship product, the Waterlase iPlus™ All-Tissue Laser, launched January 27, 2011, began to gain traction in North America, and as new distributors compete for market share among their respective customer segments both domestically and internationally.”

Recent Highlights

With a new Board of Directors and executive team, and under the leadership of Chairman and CEO Federico Pignatelli, a series of actions and key accomplishments include the following:

-- The establishment of increased annual revenue guidance for 2011 of $60
   to $65 million, representing growth of approximately 129 - 148 percent
   over 2010, based in part on the impending launch of the new BIOLASE
   Imaging division. Guidance for net revenue for the first quarter ended
   March 31, 2011, traditionally the lowest quarter of the year, has been
   increased to $9.25 - $9.75 million up from $8.75 - $9.25 million and
   up from $4.4 million in the first quarter of 2010, with positive net
   income.

-- The adoption of a stock dividend policy, with a declared stock dividend
   of one percent, payable March 31, 2011 to shareholders of record on
   March 15, 2011.

-- The successful launch and initial domestic order generation of the
   Waterlase iPlus All-Tissue Laser with improved cutting speeds and
   precision, and a breakthrough intuitive user interface designed for
   broader applications and wider adoption.

-- The receipt of CE Mark Approval for the Waterlase iPlus with commercial
   sales initiated in Europe.

-- The launch of the "BIOLASE Store," at www.biolasestore.com, for dentists
   and hygienists using BIOLASE laser technology products to view and
   purchase consumables, training, warranties and service contracts. The
   website has already surpassed internal revenue goals and is expected to
   become a significant revenue contributor in 2011.

-- The opening of a sales and support office, BIOLASE Asia-Pacific, to
   expand penetration in the fast-growing Asian dental and medical markets
   and provide service and support, education and technical support to the
   Company's existing 15 distributors, and rapidly growing, in the
   Asia-Pacific region. This new support center is soon to be followed by
   the formation of BIOLASE India-Middle East and BIOLASE South America.

-- The formation of a new division, BIOLASE Imaging, to design and
   distribute state-of-the-art extra-oral and intra-oral dental imaging
   devices that complement the minimally invasive dental treatment
   solutions offered by the BIOLASE Laser division.

-- The receipt of approximately $5.9 million in cash, which was raised
   through the sale of approximately 1.8 million shares of BIOLASE common
   stock and $518,000 through the exercise of options. A portion of these
   proceeds were used to pay off the remaining balance of a $3 million debt
   facility in Q1 2011, making BIOLASE free of bank debt.

-- The award of several new patents for use of the Company's patented
   Er,Cr:YSGG laser technology for eye surgery, including for the treatment
   of presbyopia, a condition suffered by 2.5 billion people worldwide.

Pignatelli continued, “The Company embarked on a fundamental companywide reorganization, and achieved financial milestones at a fast pace in the past six months, including the launch of our new flagship product, the Waterlase iPlus All-Tissue Laser, the World’s fastest and most advanced dental surgical laser. Also, a remarkable and exciting development was the launch of the BIOLASE Imaging division. Having built over time a well-known and leading brand and more recently a resurgent dynamic direct sales force addressing the needs of high-tech dentists, it makes perfect sense to fill that distribution channel with more world-class and complementary products that will generate additional selling opportunities and provide an optimal utilization from that sales force investment.”

Gross profit as a percentage of net revenue for this year’s fourth quarter and full year was 50 percent and 34 percent, respectively, compared to 42 percent and 46 percent for the prior year periods. The year-over-year quarterly increase of 8 percent was primarily due to reduced expenses.

Operating expenses in the 2010 fourth quarter and full year were $4.5 million and $20.3 million, respectively, compared to $5.8 million and $23.0 million in the year-earlier periods. The year-over-year reduction in expense was primarily due to recent cost-cutting measures.

Net income for the 2010 fourth quarter was $174,000, or $0.01 per share, compared to a net loss of $1.5 million, or $0.06 loss per share, in the 2009 fourth quarter. Non-GAAP net income was $787,000, or $0.03 per share, for the 2010 fourth quarter compared with a non-GAAP net loss of $888,000, or $0.04 loss per share, for the similar quarter in 2009.

Net loss for 2010 was $12.0 million, or a $0.49 loss per share, compared to a net loss of $3.0 million, or a $0.12 loss per share, in 2009. Non-GAAP net loss was $9.9 million, or a $0.41 loss per share, for 2010 compared with non-GAAP net loss of $97,000, or a $0.00 loss per share, in 2009.

Conference Call

As previously announced, the Company will host a conference call today at 11:00 a.m. Eastern Time to discuss its operating results for the fourth quarter and year ended December 31, 2010, and to answer questions. The dial-in number for the call is toll-free 1-877-941-1427 or toll/international 1-480-629-9664. The live webcast and archived replay of the call can be accessed in the Investors section of the BIOLASE website at www.biolase.com.

About BIOLASE Technology, Inc.

BIOLASE Technology, Inc., the World’s leading Dental Laser company, is a medical technology company that develops, manufactures and markets dental lasers and also distributes and markets dental imaging equipment, products that are focused on technologies that advance the practice of dentistry and medicine. The Company’s laser products incorporate patented and patent pending technologies designed to provide clinically superior performance with less pain and faster recovery times. Its imaging products provide cutting-edge technology at competitive prices to deliver the best results for dentists and patients. BIOLASE’s principal products are dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications, and a full line of dental imaging equipment. Other products under development address ophthalmology and other medical and consumer markets.

For updates and information on laser and Waterlase dentistry, find BIOLASE at http://www.biolase.com, Twitter at http://twitter.com/GoWaterlase, and YouTube at http://www.youtube.com/user/Rossca08.

This press release may contain forward-looking statements within the meaning of safe harbor provided by the Securities Reform Act of 1995 that are based on the current expectations and estimates by our management. These forward-looking statements can be identified through the use of words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,” and variations of these words or similar expressions. Forward-looking statements are based on management’s current, preliminary expectations and are subject to risks, uncertainties and other factors which may cause the Company’s actual results to differ materially from the statements contained herein, and are described in the Company’s reports it files with the Securities and Exchange Commission, including its annual and quarterly reports. No undue reliance should be placed on forward-looking statements. Such information is subject to change, and we undertake no obligation to update such statements.
– TABLES FOLLOW –

                        BIOLASE TECHNOLOGY, INC.
          CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
                (in thousands, except per share data)

                                             Three Months Ended
                                 -----------------------------------------
                                 December 31,  September 30,  December 31,
                                     2010          2010           2009
                                 ------------  -------------  ------------
Products and services revenue    $      9,495  $       6,002  $     10,335
License fees and royalty revenue          223            218            16
                                 ------------  -------------  ------------
Net revenue                             9,718          6,220        10,351
Cost of revenue                         4,885          4,429         5,988
                                 ------------  -------------  ------------
Gross profit                            4,833          1,791         4,363
                                 ------------  -------------  ------------
Operating expenses:
  Sales and marketing                   2,113          2,110         2,995
  General and administrative            1,561          1,330         1,832
  Engineering and development             800            775           945
                                 ------------  -------------  ------------
    Total operating expenses            4,474          4,215         5,772
                                 ------------  -------------  ------------
Profit (loss) from operations             359         (2,424)       (1,409)
                                 ------------  -------------  ------------
(Loss) gain on foreign currency
 transactions                             (35)          (118)           10
Interest income                             1              1             1
Interest expense                         (145)          (157)           (9)
                                 ============  =============  ============
Non-operating (loss) income,
 net                                     (179)          (274)            2
                                 ============  =============  ============
Income (loss) before income
 taxes                                    180         (2,698)       (1,407)
Provision for income taxes                  6             28            62
                                 ------------  -------------  ------------
Net income (loss)                $        174  $      (2,726) $     (1,469)
                                 ============  =============  ============
Net income (loss) per share:
  Basic                          $       0.01  $       (0.11) $      (0.06)
                                 ============  =============  ============
  Diluted                        $       0.01  $       (0.11) $      (0.06)
                                 ============  =============  ============
Shares used in the calculation
 of net income (loss) per share:
  Basic                                24,590         24,428        24,356
                                 ============  =============  ============
  Diluted                              24,734         24,428        24,356
                                 ============  =============  ============

                         BIOLASE TECHNOLOGY, INC.
            CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
                  (in thousands, except per share data)

                                                          Years Ended
                                                          December 31,
                                                      --------------------
                                                        2010       2009
                                                      ---------  ---------
Products and services revenue                         $  24,580  $  42,137
License fees and royalty revenue                          1,645      1,210
                                                      ---------  ---------
Net revenue                                              26,225     43,347
Cost of revenue                                          17,400     23,285
                                                      ---------  ---------
Gross profit                                              8,825     20,062
                                                      ---------  ---------
Operating expenses:
  Sales and marketing                                     9,938     11,041
  General and administrative                              6,592      7,835
  Engineering and development                             3,790      4,146
                                                      ---------  ---------
    Total operating expenses                             20,320     23,022
                                                      ---------  ---------
Loss from operations                                    (11,495)    (2,960)
                                                      ---------  ---------
(Loss) gain on foreign currency transactions               (110)       176
Interest income                                               3          5
Interest expense                                           (361)       (58)
                                                      ---------  ---------
Non-operating (loss) income, net                           (468)       123
                                                      ---------  ---------
Loss before income tax provision                        (11,963)    (2,837)
Income tax provision                                         58        119
                                                      ---------  ---------
Net loss                                              $ (12,021) $  (2,956)
                                                      =========  =========
Net loss per share:
  Basic                                               $   (0.49) $   (0.12)
                                                      =========  =========
  Diluted                                             $   (0.49) $   (0.12)
                                                      =========  =========
Shares used in the calculation of net loss per share:
  Basic                                                  24,450     24,282
                                                      =========  =========
  Diluted                                                24,450     24,282
                                                      =========  =========

                          BIOLASE TECHNOLOGY, INC.
                    CONSOLIDATED BALANCE SHEETS (Unaudited)
                     (in thousands, except per share data)

                                                           December 31,
                                                        ------------------
                                                          2010      2009
                                                        --------  --------
                   ASSETS

Current assets:
  Cash and cash equivalents                             $  1,694  $  2,975
  Accounts receivable, less allowance of $311 and
   $421 in 2010 and 2009, respectively                     3,331     4,229
  Inventory, net                                           6,987     7,861
  Prepaid expenses and other current assets                1,355     1,347
  Assets held for sale                                       576        --
                                                        --------  --------

    Total current assets                                  13,943    16,412
Property, plant and equipment, net                           755     2,180
Intangible assets, net                                       342       472
Goodwill                                                   2,926     2,926
Deferred tax asset                                            11        17
Other assets                                                 170       170
                                                        --------  --------

    Total assets                                        $ 18,147  $ 22,177
                                                        ========  ========

    LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY
Current liabilities:
  Term loan payable, current portion                    $  2,622  $     --
  Accounts payable                                         4,029     4,887
  Accrued liabilities                                      5,482     5,152
  Customer deposits                                        5,877        --
  Deferred revenue, current portion                        1,650     1,123
                                                        --------  --------

    Total current liabilities                             19,660    11,162
Deferred tax liabilities                                     544       473
Warranty accrual, long term                                  424       448
Deferred revenue, long-term                                  433     1,975
Other liabilities, long-term                                 133       190
                                                        --------  --------

    Total liabilities                                     21,194    14,248
                                                        --------  --------

Commitments and contingencies
Stockholders' (deficit) equity:
  Preferred stock, par value $0.001; 1,000 shares
   authorized, no shares issued and outstanding               --        --
  Common stock, par value $0.001; 50,000 shares
   authorized, 26,565 and 26,340 shares issued in
   2010 and 2009, respectively; 24,601 shares and
   24,376 shares outstanding in 2010 and 2009,
   respectively                                               27        27
  Additional paid-in capital                             118,375   117,228
  Accumulated other comprehensive loss                      (324)     (222)
  Accumulated deficit                                   (104,726)  (92,705)
                                                        --------  --------

                                                          13,352    24,328
  Treasury stock (cost of 1,964 shares repurchased)      (16,399)  (16,399)
                                                        --------  --------

    Total stockholders' (deficit) equity                  (3,047)    7,929
                                                        --------  --------

    Total liabilities and stockholders' (deficit)
     equity                                             $ 18,147  $ 22,177
                                                        ========  ========

Non-GAAP Financial Measures

The non-GAAP financial measures contained herein are a supplement to the corresponding financial measures prepared in accordance with generally accepted accounting principles (GAAP). The non-GAAP financial measures presented exclude the items summarized in the below table. Management believes that adjustments for these items assist investors in making comparisons of period-to-period operating results and that these items are not indicative of the Company’s on-going core operating performance.

Management uses non-GAAP net income (loss) and non-GAAP net income (loss) per diluted share in its evaluation of the Company’s core after-tax results of operations and trends between fiscal periods and believes that these measures are important components of its internal performance measurement process. Management believes that providing these non-GAAP financial measures allows investors to view the Company’s financial results in the way that management views the financial results.

The non-GAAP financial measures presented herein have certain limitations in that they do not reflect all of the costs associated with the operations of the Company’s business as determined in accordance with GAAP. Therefore, investors should consider non-GAAP financial measures in addition to, and not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The non-GAAP financial measures presented by the Company may be different from the non-GAAP financial measures used by other companies.

                            BIOLASE TECHNOLOGY, INC.
 Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Measures
                                (Unaudited)
                      (in thousands, except per share data)

                                 Three months ended       Years ended
                                    December 31,          December 31,
                                  2010       2009       2010       2009
                                ---------- ---------  ---------  ---------
GAAP net income (loss)          $      174 $  (1,469) $ (12,021) $  (2,956)

Adjustments:
Interest expense                       145         9        361         58
Depreciation and amortization
 expense                               240       318      1,070      1,444
Stock based compensation
 expense                               228       254        727      1,357

                                ---------- ---------  ---------  ---------
Non-GAAP net income (loss)      $      787 $    (888) $  (9,863) $     (97)
                                ========== =========  =========  =========

GAAP net income (loss) per
 share:
  Basic and Diluted             $     0.01 $   (0.06) $   (0.49) $   (0.12)

Adjustments:
Interest expense                      0.00      0.00       0.02       0.00
Depreciation and amortization
 expense                              0.01      0.01       0.04       0.06
Stock based compensation
 expense                              0.01      0.01       0.02       0.06

Non-GAAP net income (loss) per
 share:
                                ---------- ---------  ---------  ---------
  Basic and Diluted             $     0.03 $   (0.04) $   (0.41) $   (0.00)
                                ========== =========  =========  =========

For further information, please contact:
Jill Bertotti
Allen & Caron
+1-949-474-4300

Starbucks Corp. (SBUX) and Green Mountain Coffee Roasters, Inc. (GMCR) Enter Into Strategic Relationship

Mar. 10, 2011 (Business Wire) — Starbucks Corporation (NASDAQ:SBUX), the world’s premier roaster, marketer and retailer of specialty coffees, and Green Mountain Coffee Roasters, Inc. (GMCR) (NASDAQ:GMCR), a leader in specialty coffee and single-serve brewing systems, today announced a strategic relationship for the manufacturing, marketing, distribution and sale of Starbucks^® and Tazo^® tea branded K-Cup^® portion packs for use in GMCR’s Keurig^® Single-Cup brewing system. The new relationship will provide owners of Keurig Single-Cup Brewers with the additional choice afforded by having Starbucks branded super-premium coffees available for their brewers, and furthers Starbucks stated goals of expanding its presence in premium single-cup coffee, making its premium coffees conveniently available to consumers whenever, wherever and however they want it.

Starbucks is the exclusive, licensed super-premium coffee brand produced by GMCR for the Keurig Single-Cup brewing system. Starbucks and GMCR plan to make Starbucks K-Cup portion packs available through food, drug, mass, club, specialty and department store retailers throughout the U.S. and Canada beginning in the fall of 2011. The companies expect to expand Starbucks K-Cup portion pack and Keurig Single-Cup Brewing system distribution to Starbucks stores and to make Starbucks K-Cup portion packs available through GMCR’s consumer-direct websites: www.greenmountaincoffee.com and www.keurig.com, and Starbucks consumer-direct website: www.starbucks.com beginning in 2012.

“Today’s announcement is a win for Starbucks, a win for GMCR and most importantly a win for consumers who want to enjoy Starbucks coffee with the Keurig Single-Cup Brewing system,” said Howard Schultz, president, ceo and chairman, Starbucks Corporation. “Our research shows that more than 80 percent of current Starbucks customers in the U.S. do not yet own a single-cup brewer and our relationship will enable Starbucks customers to enjoy perfectly brewed Starbucks® coffee at home, one quality cup at a time.”

“We are proud to be the exclusive super-premium licensed coffee brand produced by GMCR for the Keurig Single-Cup Brewing system, and are looking forward to working with our colleagues at GMCR to further accelerate growth in single-serve coffee,” added Jeff Hansberry, president, Starbucks Global Consumer Products Group.

“This relationship is yet another example of GMCR’s strategy of aligning with the strongest coffee brands to support a range of consumer choice and taste profiles in our innovative Keurig Single-Cup Brewing system,” said Lawrence J. Blanford, GMCR president and CEO. “Starbucks loyal consumers will soon be able to choose, brew and enjoy their favorite Starbucks coffee in their own homes through the quality, convenience and consistent preparation of the Keurig Single-Cup Brewing system.”

Overall coffee category growth in the U.S. last year was driven primarily by single-cup coffee sales of nearly $2 billion^*. Starbucks expanded its presence in the category last year through the introduction of Starbucks VIA® Ready Brew. The introduction of Starbucks coffee and Tazo tea K-Cup portion packs reflects Starbucks strategy of continuing to grow its presence in single-cup coffee, and enables Starbucks to better and more conveniently serve its global customers wherever they are and however and whenever they want their Starbucks coffee.

GMCR’s Keurig Single-Cup brewers for in-home and office use utilize patented, innovative brewing and single-cup technology to deliver a fresh-brewed, perfect cup of coffee, tea, or cocoa every time at just the touch of a button. Brewers with Keurig Brewed^® technology were the top five selling coffeemakers in the U.S. on a dollar basis for the period of October through December 2010 and represented an estimated 49 percent of total coffeemaker dollar sales for that period according to The NPD Group.

* Source: Combined data from Euromonitor, Nielsen, Starbucks internal data and GMCR filings.

About Starbucks Corporation

Since 1971, Starbucks Corporation (NASDAQ: SBUX) has been committed to ethically sourcing and roasting the highest quality arabica coffee in the world. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. In addition to its Starbucks retail stores, the company produces a wide range of branded consumer products globally, including ready-to-drink beverages, packaged coffees and premium ice creams. The company’s brand portfolio features Starbucks Coffee, Tazo Tea, Seattle’s Best Coffee and Torrefazione Italia Coffee, enabling Starbucks to appeal to a broad consumer base. For more information, please visit us online at www.starbucks.com.

Starbucks Corporation Forward-Looking Statements

Certain statements contained herein are not based on historical fact and are “forward-looking statements” within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are based on information available to Starbucks as of the date hereof, and Starbucks actual results or performance could differ materially from those stated or implied, due to risks and uncertainties associated with its business. These risks and uncertainties include: evolving understanding of the definition of and consumer preference for super-premium coffee; continued growth in the single-serve sector of the coffee industry and market acceptance of Starbucks coffee in that sector; the ability of Starbucks to accelerate its growth in the single-serve sector; continued consumer success of the Keurig Single-Cup Brewing system, including successful distribution of the System through Starbucks stores; the potential introduction of super-premium coffee by new market entrants including on the Keurig Single-Cup Brewing system; the long-term success of the strategy to make portion packs available through various U.S. and Canadian retailers, including Starbucks stores and GMCR’s consumer-direct website; and the risk factors disclosed in the most recent Annual Report on Form 10-K, which Starbucks filed with the Securities and Exchange Commission on November 22, 2010. Forward-looking statements reflect management’s analysis as of the date of this release. Starbucks does not undertake to revise these statements to reflect subsequent developments, except as required under the federal securities laws.

About Green Mountain Coffee Roasters, Inc.

As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR), is recognized for its award-winning coffees, innovative brewing technology, and socially responsible business practices. GMCR’s operations are managed through three business units. The Keurig business unit is comprised of Keurig, Incorporated, a wholly owned subsidiary of GMCR. Keurig is a pioneer and leading manufacturer of gourmet single-cup brewing systems for both at-home and away-from home use, predominantly in North America. The Specialty Coffee business unit produces, markets and sells coffee, tea, hot cocoa and other beverages in a variety of packaging formats, including K-Cup® portion packs for Keurig Single-Cup Brewers. The Canadian business unit produces, markets and sells coffees in K-Cup portion packs and other packaging formats and is responsible for managing the Van Houtte business as well as the grocery channel for all GMCR coffee brand sales in Canada. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in sustainably-grown coffee, and allocating at least five percent of its pre-tax profits to socially and environmentally responsible initiatives.

GMCR routinely posts information that may be of importance to investors in the Investor Relations section of its website, including news releases and its complete financial statements, as filed with the SEC. The Company encourages investors to consult this section of its website regularly for important information and news. Additionally, by subscribing to the Company’s automatic email news release delivery, individuals can receive news directly from GMCR as it is released. For more information, please visit www.GMCR.com.

GMCR Forward-Looking Statements

Certain statements contained herein are not based on historical fact and are “forward-looking statements” within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements made by GMCR in this press release include: Starbucks loyal consumers will soon be able to choose, brew and enjoy their favorite Starbucks coffee in their own homes through the quality, convenience and consistent preparation of the Keurig Single-Cup Brewing System. These statements are based on information available to the Company as of the date hereof; and GMCR’s actual results or performance could differ materially from those stated or implied, due to risks and uncertainties associated with its business, which include the risk factors disclosed in its Annual Report on Form 10-K, which GMCR filed with the Securities and Exchange Commission on December 9, 2010. Forward-looking statements reflect management’s analysis as of the date of this release. The Company does not undertake to revise these statements to reflect subsequent developments, except as required under the federal securities laws.

GMCR-C

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6641779&lang=en

Starbucks Coffee Company

Alan Hilowitz (Media), +1-206-318-7100

press@starbucks.com

or

Starbucks Coffee Company

JoAnn DeGrande (Investors), +1-206-318-7118

investorrelations@starbucks.com

or

Green Mountain Coffee Roasters, Inc.

Suzanne DuLong, +1-802-882-2100

Suzanne.DuLong@gmcr.com

Vringo (VRNG) Announces Signing of Letter of Intent to Acquire m-Wise, Inc.

NEW YORK, March 8, 2011 (GLOBE NEWSWIRE) — Vringo, Inc. (NYSE Amex:VRNG), a provider of video ringtones and personalization solutions for mobile devices, today announced that it has signed a non-binding Letter of Intent (“LOI”) to acquire substantially all of the assets of m-Wise, Inc. (OTCBB:MWIS).

m-Wise provides a platform used by leading content owners and service providers to manage, deliver and monetize mobile entertainment, content and applications. The m-Wise mobile software as a service (SaaS) platform is used to power over three million daily mobile service transactions world-wide, and m-Wise has performed over one billion mobile transactions in the aggregate since it was founded in March 2000.

m-Wise’s platform has been utilized in over 300 applications across more than 50 mobile networks by more than 50 international content and media providers. m-Wise’s current customers include leading companies such as Jesta Digital, Thumbplay, Universal Music Group, Digicel and Snackable Media. These m-Wise-enabled applications for content and media partners include content delivery services, ringtones, music, video, games, information services, alerts and advertising and promotions, all of which were developed and delivered from the cloud on a hosted basis.

For the nine months ending September 30, 2010, m-Wise reported sales of $2.1 million, gross profit of $1.2 million and a net loss (including non-cash, stock-based expenses and options accounting) of $0.8 million. Vringo anticipates cost savings and operational synergies from combining m-Wise’s business with Vringo’s core business. As a result, Vringo believes that the m-Wise acquisition will be cash flow accretive with the potential to reduce Vringo’s overall burn rate in the first full year of combined operations.

Under the terms of the LOI, Vringo will issue m-Wise 1.9 million shares of its common stock, provide m-Wise’s management with a retention package comprised of options to purchase 500,000 shares of common stock, and assume and pay over a two year period certain of m-Wise’s expenses and related costs in the amount of $615,000. Vringo will also issue a five-year promissory note for $320,000 convertible into 200,000 shares of its common stock for certain services provided in connection with the transaction.

“This business combination makes tremendous sense for Vringo,” said Jon Medved, Vringo’s Chief Executive Officer. “By adding m-Wise’s rich back-end server technology to Vringo’s proven video application ability, we can generate significant product, customer and cost synergies. We intend to use the m-Wise platform to release multiple new video and other mobile consumer services to our growing family of content and carrier partners. We also expect to acquire revenue and margin contribution as a result of this transaction, which would bring us that much closer to profitability.”

Zach Sivan, m-Wise’s CEO, commented, “We are excited about the prospects of joining with Vringo to provide a rich end-to-end mobile application service platform to an expanded list of customers and directly to consumers. Mobile services are moving to the cloud, and video is the coming tsunami which will drive the entire mobile market. Together with Vringo’s creative and market leading video team, we expect to ride this huge wave to our mutual benefit.”

The proposed transaction is subject to the satisfactory completion of due diligence by Vringo, the execution of a definitive agreement, regulatory approval, and the approval of both the boards of directors and stockholders of Vringo and m-Wise. Upon the closing of a definitive agreement, Vringo expects to prepare and file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4 covering the shares issued in this transaction. The parties intend to complete the transaction as soon as practicable after receiving all necessary approvals.

Vringo’s fully-hosted carrier platform is currently deployed for international partners in six markets with new launches anticipated in the next quarter. Vringo’s scalable cloud-based distributed application architecture enables the carrier’s subscribers to browse and download mobile videos, set them as video ringtones and instantly share them with friends. In addition to carrier partners such as Orange, Maxis and Etisalat, Vringo has content partnerships with various major content providers including EMI, T-Pain, Tiesto, Muhammad Ali, Turner, Marvel, Discovery Mobile, RTL, Ingrooves and Agence France-Presse.

About m-Wise

Founded in 2000, m-Wise has established itself as a leading international provider of enabling technologies for the mobile entertainment and marketing industries, powering market leaders such as Thumbplay, Fox Mobile Group and Universal Music Group. m-Wise is the developer of the MOMA (“Mobile Originated Message Access”) platform, the de facto content management and service delivery platform used on or through more than 50 mobile networks throughout Europe, North and Latin America and Asia.

MOMA is an integrated “one stop shop” for mobile operators, wireless ASPs, content providers, and media producers to deliver end-users with a state-of-the-art mobile experience. MOMA makes it easy not only to manage and deliver content such as entertainment, music, games, and video without specific regard to handset compatibility but also adds real-time end-user capabilities such as voting, mobile marketing, advertising and access to live data.

For more information, visit http://www.m-wise.com/

About Vringo

Founded in 2006, Vringo (NYSE Amex:VRNG) is bringing about the evolution of the ringtone. With its award-winning video ringtone application and mobile software platform, Vringo transforms the basic act of making and receiving mobile phone calls into a highly visual, social experience. By installing Vringo’s application, which is compatible with more than 200 handsets, users can create or take video, images and slideshows from virtually anywhere and make it into their personal call signature. Vringo’s patented VringForward™ technology allows users to share video clips with friends with a simple call. Vringo has launched its service with various international mobile operators and dozens of content partners and maintains a library of more than 5,000 video ringtones. For more information, visit http://ir.vringo.com.

For more information about how video ringtones work, visit www.vringo.com/p_video_ringtones.html.

The Vringo, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8289

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. No assurances can be given that Vringo and m-Wise will consummate this transaction. Vringo expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT: Vringo, Inc.
         Jonathan Medved
         CEO
         Email: jon@vringo.com
         Phone: +1 646-525-4319 x 2501

         Investor Relations Firm:
         Crescendo Communications, LLC
         John J. Quirk / David K. Waldman
         Email: vrng@crescendo-ir.com
         Phone: +1 212-671-1020

Biodel Inc. (BIOD) to Present at the Roth 23rd Annual OC Growth Stock Conference on March 16, 2011

Viasystems (VIAS) Announces Strong Fourth Quarter 2010 Earnings

Feb. 8, 2011 (Business Wire) — Viasystems Group, Inc. (NASDAQ:VIAS), a leading provider of complex multi-layer printed circuit boards and electro-mechanical solutions, today announced earnings for the fourth quarter ended December 31, 2010.

Highlights

• Earnings per basic and diluted share were $0.44 for the quarter ended December 31, 2010, on approximately 20 million average shares outstanding.
• Net sales were $243.9 million in the quarter, a year-over-year organic increase of 20.3% and a sequential decline of 6.0%.
• Operating income in the quarter was $19.6 million or 8.1% of sales.
• Adjusted EBITDA was $36.0 million or 14.8% of sales, compared with $18.6 million or 14.2% in the quarter ended December 31, 2009.
• The book-to-bill ratio in the quarter was 1.09:1.

“Our results in the final quarter of 2010 reflect sustained strength of demand for our products,” commented David M. Sindelar, Chief Executive Officer. “Orders placed on our ten factories during the fourth quarter matched our record high bookings in the immediately preceding quarter and were about 10% ahead of the same period last year. Demand for automotive end-use products continued to follow an upward trend, while demand for telecommunications end-use products remained a bit softer than I would like to see.

“Sales from the same ten factories in the fourth quarter of 2010 increased by approximately 20% year over year,” continued Sindelar, “despite temporary reductions of our available productive capacities, which contributed to the 6% sequential quarterly decline in our sales. On top of the annual fourth quarter holiday downtimes, we battled mandated downtimes for some of our Chinese capacity as a result of the government’s limitations on use of energy and water during the Asian Games. We also experienced an unexpected reduction of our Printed Circuit Boards segment capacity during the fourth quarter while we assisted a customer with an investigation of an intermittent quality problem discovered in one of their end products.

“Looking ahead to the first quarter of 2011,” concluded Sindelar, “we expect continuing headwinds of increasing costs of copper and other materials and increasing Chinese labor costs to keep pressure on our margins. Our first quarter will again include capacity limitations during the annual Chinese New Year holidays. In addition, during a routine maintenance cycle, we discovered the need to rebuild one of our printed circuit board plating lines ahead of its normal cycle, leading to an unexpected limitation on total capacity for the early part of the first quarter. I am looking forward to a return to our full capacities in the second quarter in addition to some of our new Printed Circuit Boards segment capacity coming on-line beginning in the third quarter.”

Financial Results

The Company reported net sales of $243.9 million for the three months ended December 31, 2010, a 6.0% decrease compared with the three months ended September 30, 2010, and an 85.7% year-over-year increase compared with net sales during the fourth quarter of 2009. While the year-over-year increase is attributable in part to the acquisition of Merix Corporation in mid-February 2010, the improved market conditions resulted in 20.3% year-over-year organic growth. The sequential decline in sales was due in part to the holiday season reduction of customer delivery requirements, in part to a reduced number of production days available in the fourth quarter compared with the third quarter, and in part to an unplanned printed circuit board capacity limitation during an isolated quality review with a customer.

Cost of goods sold (excluding items shown separately in the income statement) as a percent of sales increased to 78.5% for the quarter ended December 31, 2010, compared to 76.4% in the immediately preceding quarter. While rising costs of materials, including copper-based products, continue to exert pressure on total manufacturing costs, the majority of the increase in total costs as a percent of sales related to inefficiencies caused by sustained fixed costs during unplanned reductions of our Printed Circuit Boards segment’s productive capacity during the quarter ended December 31, 2010.

Operating income was $19.6 million, or 8.1% of sales, for the three months ended December 31, 2010, compared with $25.8 million, or 9.9% of sales in the three months ended September 30, 2010, and $2.5 million or 1.9% of sales in the fourth quarter of 2009. An increase in manufacturing costs as a percent of sales was partially offset by a reduction of costs for selling, general and administrative activities in the quarter ended December 31, 2010, compared with the immediately preceding quarter.

Adjusted EBITDA was $36.0 million, or 14.8% of sales in the three months ended December 31, 2010, compared with $41.9 million or 16.2% of sales in the three months ended September 30, 2010, and $18.6 million or 14.2% of sales in the fourth quarter of 2009. A reconciliation of operating income to Adjusted EBITDA is provided at the end of this news release.

For the three months ended December 31, 2010, net income of $9.5 million, of which $8.9 million was attributable to common stockholders, resulted in $0.44 earnings per basic and diluted share.

Segment Information

Net sales and operating income in the Company’s Printed Circuit Boards segment for the fourth quarter were $196.7 million and $17.5 million, respectively, compared with sales and operating income of $208.9 million and $23.6 million, respectively, in the third quarter of 2010 and $100.6 million and $4.2 million, respectively, in the fourth quarter of 2009. During the fourth quarter in the Printed Circuit Boards segment, non-recurring proceeds from a business interruption insurance claim offset costs of materials scrapped following a product quality review. Compared with the immediately preceding quarter, segment revenues increased in only the military and aerospace end-user market.

Fourth quarter net sales and operating income of the Company’s Assembly segment were $47.2 million and $2.1 million, respectively, compared with third-quarter 2010 segment sales and operating income of $50.4 million and $2.2 million, respectively, and fourth-quarter 2009 segment sales and operating income of $30.8 million and $0.2 million, respectively. The change in segment revenue from the third quarter to the fourth quarter of 2010 was primarily attributable to lower demand in the telecommunications end-user market.

Cash and Working Capital

Cash and cash equivalents of $103.6 million at December 31, 2010, increased $18.1 million from the end of the prior quarter. Cash provided by operating activities of approximately $41.6 million during the three months ended December 31, 2010, was used to i) fund approximately $20.1 million of capital expenditures in the quarter; ii) reduce previously outstanding debt by approximately $1.0 million; and iii) make scheduled payments of $2.5 million on capital lease obligations. The Company’s working capital metrics at December 31, 2010, remained consistent with historical trends.

Pro Forma Combined Net Sales

Merix Corporation’s prior fiscal year ended on May 30, 2009. Pro forma combined net sales of $202.6 million for the three-month period ended December 31, 2009, is composed of Viasystems’ net sales for the three months ended December 31, 2009, plus Merix Corporation’s reported net sales for the three months ended November 28, 2009.

Use of Non-GAAP Financial Measures

In addition to condensed consolidated financial statements presented in accordance with U.S. GAAP, management uses certain non-GAAP financial measures, including “Adjusted EBITDA.”

Adjusted EBITDA is not a recognized financial measure under U.S. GAAP, and does not purport to be an alternative to operating income or an indicator of operating performance. Adjusted EBITDA is presented to enhance an understanding of operating results and is not intended to represent cash flows or results of operations. The Board of Directors and management use Adjusted EBITDA primarily as an additional measure of operating performance for matters including executive compensation and competitor comparisons. The use of this non-GAAP measure provides an indication of the Company’s ability to service debt, and management considers it an appropriate measure to use because of the Company’s highly leveraged position.

Adjusted EBITDA has certain material limitations, primarily due to the exclusion of certain amounts that are material to the Company’s consolidated results of operations, such as interest expense, income tax expense, and depreciation and amortization. In addition, Adjusted EBITDA may differ from the Adjusted EBITDA calculations reported by other companies in the industry, limiting its usefulness as a comparative measure.

The Company uses Adjusted EBITDA to provide meaningful supplemental information regarding operating performance and profitability by excluding from EBITDA certain items that the Company believes are not indicative of its ongoing operating results or will not impact future operating cash flows, which include restructuring and impairment charges, stock compensation and costs associated with the acquisition of Merix.

Investor Conference Call

Viasystems will broadcast live via internet an investor conference call at 2:00 p.m. Eastern Time today, February 8, 2011. The live listen-only audio of the conference call will be available at http://investor.viasystems.com. The live conference call will be available by telephone for professional investors and analysts by dialing 877-640-9867 (toll-free) or 914-495-8546.

A telephonic replay of the conference call will be available for one week at 800-642-1687 or 706-645-9291. Replay listeners should enter the conference ID 39497868. The webcast replay will be available at http://investor.viasystems.com for an indefinite period.

Forward Looking Statements

Certain statements in this communication may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of the current beliefs, expectations and assumptions of the management of Viasystems regarding future events and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. Viasystems undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Actual results may differ materially from those expressed or implied. Such differences may result from a variety of factors, including but not limited to: legal or regulatory proceedings; any actions taken by the Company, including but not limited to, restructuring or strategic initiatives (including capital investments or asset acquisitions or dispositions); or developments beyond the Company’s control, including but not limited to, changes in domestic or global economic conditions, competitive conditions and consumer preferences, adverse weather conditions or natural disasters, health concerns, international, political or military developments, and technological developments. Additional factors that may cause results to differ materially from those described in the forward-looking statements are set forth under the heading “Item 1A. Risk Factors,” in the annual report on form 10-K filed by Viasystems with the SEC on February 25, 2010 and in Viasystems’ other filings made from time to time with the SEC and available at the SEC’s website, www.sec.gov.

About Viasystems

Viasystems Group, Inc. is a technology leader and a worldwide provider of complex multi-layer, printed circuit boards (PCBs) and electro-mechanical solutions (E-M Solutions). Its PCBs serve as the “electronic backbone” of electronic equipment, and its E-M Solutions products and services integrate PCBs and other components into electronic equipment, including metal enclosures, cabinets, racks and sub-racks, backplanes, cable assemblies and busbars. Viasystems’ 14,800 employees around the world serve more than 800 customers in the automotive, telecommunications, industrial & instrumentation, computer and datacommunications and military and aerospace end markets. For additional information about Viasystems, please visit the Company’s website at www.viasystems.com.

SPAR Group (SGRP) Announces Fiscal 2010 EPS of $0.11 for the Year Ended

                              SPAR Group, Inc.
                    Consolidated Statement of Operations
                                (unaudited)
                   (in thousands, except per share data)

                         Three Months Ending        Twelve Months Ending
                     --------------------------  --------------------------

                     December 31,  December 31,  December 31,  December 31,
                         2010          2009          2010          2009
                     ------------  ------------  ------------  ------------

Net revenues         $     18,738  $     14,191  $     63,154  $     57,549
Cost of revenues           12,175         9,262        42,165        40,019
                     ------------  ------------  ------------  ------------
Gross profit                6,563         4,929        20,989        17,530

Selling, general,
 and administrative
 expense                    4,619         4,526        17,140        16,127
Depreciation and
 amortization                 293           280         1,018         1,081
                     ------------  ------------  ------------  ------------
Operating income            1,651           123         2,831           322

Interest expense              171            23           310           178
Other (income)                (36)          (39)          (21)         (582)
                     ------------  ------------  ------------  ------------
Income before
 provision for
 income taxes               1,516           139         2,542           726

Provision (benefit)
 for income taxes             188           (77)          263           169
                     ------------  ------------  ------------  ------------
Net income                  1,328           216         2,279           557

Net (income) loss
 attributable to
 non-controlling
 interest                    (133)           87          (112)          (55)
                     ------------  ------------  ------------  ------------
Net income
 attributable to
 SPAR Group, Inc.    $      1,195  $        303  $      2,167  $        502
                     ============  ============  ============  ============

Basic/diluted net
 income per common
 share:

Net income - basic
 and diluted         $       0.06  $       0.02  $       0.11  $       0.03
                     ============  ============  ============  ============
Weighted average
 common shares -
 basic                     19,290        19,139        19,209        19,139
                     ============  ============  ============  ============
Weighted average
 common shares -
 diluted                   21,047        19,436        20,602        19,434
                     ============  ============  ============  ============

                              SPAR Group, Inc.
                        Consolidated Balance Sheets
                                (unaudited)
              (in thousands, except share and per share data)

                                                           December 31,
                                                          2010       2009
                                                       ---------  ---------

Assets
Current assets:
   Cash and cash equivalents                           $     923  $   1,659
   Accounts receivable, net                               13,999     10,231
   Prepaid expenses and other current assets               1,283      1,182
                                                       ---------  ---------
Total current assets                                      16,205     13,072

Property and equipment, net                                1,452      1,550
Intangibles                                                1,210        798
Other assets                                                 226      1,931
                                                       ---------  ---------
Total assets                                           $  19,093  $  17,351
                                                       =========  =========

Liabilities and equity
Current liabilities:
   Accounts payable                                    $   1,804  $   3,819
   Accrued expenses and other current liabilities          2,733      2,226
   Accrued expense due to affiliates                       1,575      1,436
   Customer deposits                                         471        477
   Lines of credit and other debt                          5,263      4,862
                                                       ---------  ---------
Total current liabilities                                 11,846     12,820

Equity:
SPAR Group, Inc. equity
   Preferred stock, $.01 par value:
      Authorized shares - 3,000,000
      Issued and outstanding shares -
      554,402 - December 31, 2010 and 2009                     6          6
   Common stock, $.01 par value:
      Authorized shares - 47,000,000
      Issued and outstanding shares -
         19,314,306 - December 31, 2010
         19,139,365 - December 31, 2009                      193        191
   Treasury stock                                             (1)        (1)
   Additional paid-in capital                             13,549     13,099
   Accumulated other comprehensive loss                     (142)      (220)
   Accumulated deficit                                    (6,808)    (8,975)
                                                       ---------  ---------
Total SPAR Group, Inc. equity                              6,797      4,100
Non-controlling interest                                     450        431
                                                       ---------  ---------
Total liabilities and equity                           $  19,093  $  17,351
                                                       =========  =========

20,000 Meter Drill Program and 1,550 Line Kilometer Geophysics Survey Underway at Sierra Mojada

China Fire & Security Group, Inc. (CFSG) Announces Receipt of “Going Private” Proposal

BEIJING, March 7, 2011 (GLOBE NEWSWIRE) — China Fire & Security Group, Inc. (Nasdaq:CFSG) (“China Fire” or the “Company”), a leading industrial fire protection product and solution provider in China, announced today that the Special Committee of its Board of Directors (the “Special Committee”) has received a non-binding letter from a leading global private equity firm (the “PE”), pursuant to which the PE proposes to acquire all of the outstanding shares of common stock of China Fire in cash at a price which represents a premium over the current stock price (the “Proposal”).  According to the Proposal, the PE is willing to structure the proposed acquisition to allow the existing members of the Company’s management to exchange all or part of their equity interests in the Company into equity securities in the post-acquisition company. The Proposal is subject to certain conditions, including, among other things, successful completion of due diligence to the satisfaction of the PE.

The Special Committee, which was formed to consider certain potential transactions involving the Company (including the Proposal), has retained Barclays Capital as its financial advisor and Shearman & Sterling LLP as its legal counsel to assist it in consideration of such matters. The Board cautions the Company’s shareholders and others considering trading in its securities that no decision has been made by the Special Committee with respect to the Company’s response to the Proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.

About China Fire & Security Group, Inc.

China Fire & Security Group, Inc. is a leading total solution provider of industrial fire protection systems in China. Leveraging on its proprietary technologies, China Fire is engaged primarily in the design, manufacturing, sales and maintenance services of a broad product portfolio including detectors, controllers, and fire extinguishers. The Company owns a comprehensive portfolio of patents covering fire detection, system control and fire extinguishing technologies, and via its nationwide direct sales force, has built a solid client base including major companies in iron and steel, power, petrochemical and transportation industries throughout China. For more information about the Company, please go to http://www.chinafiresecurity.com.

Cautionary Statement Regarding Forward Looking Information

This press release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative thereof or comparable terminology. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission.  China Fire does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

CONTACT: China Fire & Security Group, Inc.
         Gu Bin, Investor Relations
         Tel: +86-10-8441-7400
         Email: ir@chinafiresecurity.com

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