Versar Team (VSR) Selected for up to $45 Million Task Order at Tinker Air Force Base, Oklahoma

BIOLASE (BLTI) Announces Stock Repurchase Program

IRVINE, CA — (Marketwire) — 08/10/11 — BIOLASE Technology, Inc. (NASDAQ: BLTI), the World’s leading dental laser manufacturer and distributor, today announced that its Board of Directors has approved a stock repurchase program of up to 2,000,000 shares of the Company’s outstanding common stock.

The stock repurchase program will be effective commencing on the business day following the filing of the Company’s quarterly report on Form 10-Q for the quarter ended June 30, 2011 with the Securities and Exchange Commission and will expire on the same day 24 months thereafter. Purchases may be made from time to time through a variety of methods, including open market purchases, privately negotiated transactions, and block transactions. The Company has no obligation to repurchase shares under the stock repurchase program, and the timing, actual number, and value of the shares that are repurchased will be at the discretion of the Company’s management and will depend upon a number of considerations, including the trading price of the Company’s common stock, general market conditions, applicable legal requirements, and other factors. The Company expects to fund the stock repurchase program with existing cash and cash equivalents on hand. Any shares repurchased will be retired and shall resume the status of authorized and unissued shares.

Federico Pignatelli, Chairman and CEO, said, “The management and the Board of Directors believe that the use of BIOLASE’s capital has to be based on flexibility and opportunity. I see great value in repurchasing shares when irrational valuations occur.”

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.

Certain statements in this release concerning the Biolase Technology, Inc. and its prospects and future growth are forward-looking and involved a number of uncertainties and risks. Factors that could cause actual events or results to differ materially from those suggested by these forward-looking statements include, but are not limited to, the performance of the global economy and the growth in dental laser sales, dental imaging equipments and other products that we manufacture and/or distribute that are focused on technologies that advance the practice of dentistry and medicine; market acceptance of the Company’s products and services; customer and industry analyst perception of the company and its technology vision and future prospects; the success of certain business combinations engaged in by the Company or by competitors; political unrest or acts of war; possible disruptive effects of organizational or personnel changes; and other factors described in Biolase Technology, Inc.’s periodic reports filed with the U.S. Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2010 and its quarterly report on Form 10-Q for the three and six-month periods ended June 30, 2011. Such information is subject to change, and we undertake no obligation to update such statements.

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

The views expressed on blogs distributed by Newstex and its re-distributors (“Blogs on Demand®”) are solely the author’s and not necessarily the views of Newstex or its re-distributors. Posts from such authors are provided “AS IS”, with no warranties, and confer no rights. The material and information provided in Blogs on Demand® are for general information only and should not, in any respect, be relied on as professional advice. No content on such Blogs on Demand® is “read and approved” before it is posted. Accordingly, neither Newstex nor its re-distributors make any claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained therein or linked to from such blogs, nor take responsibility for any aspect of such blog content. All content on Blogs on Demand® shall be construed as author-based content and commentary. Accordingly, no warranties or other guarantees will be offered as to the quality of the opinions, commentary or anything else offered on such Blogs on Demand®. Reader’s comments reflect their individual opinion and their publication within Blogs on Demand® shall not infer or connote an endorsement by Newstex or its re-distributors of such reader’s comments or views. Newstex and its re-distributors expressly reserve the right to delete posts and comments at its and their sole discretion.

Digital Power Corp. (DPW) Reports Financial Results for the Second Quarter Ended June 30, 2011

Ballantyne (BTN) Reports Diluted EPS of $0.17 on 15% Increase in Net Revenues to $37.6 Million

Ballantyne Strong, Inc. (NYSE Amex: BTN), a provider of digital cinema projection equipment and services, cinema screens and other cinema products, today reported financial results for the second quarter (Q2) and six months ended June 30, 2011.

Second Quarter Highlights

• Increased net revenues 15% to $37.6 million compared to Q2 2010.
• Increased operating income 17% to $3.7 million compared to Q2 2010.
• Improved cash flow by $9.2 million over first quarter 2011.
• Achieved net earnings per diluted share of $0.17 compared to $0.13 per share in Q2 2010 (excluding $0.06 per share of equity income and gains pertaining to the Company’s 44.4% ownership in the Digital Link II, LLC joint venture).

Second Quarter Results

Ballantyne Strong’s net revenues rose 15% to $37.6 million, led by digital projection system and cinema service revenues, which increased 34% and 38% year-over-year to $26.4 million and $2.9 million, respectively. Cinema screen sales grew approximately 9% to $4.9 million. The Q2 screen business was lower sequentially compared to a very strong performance in the prior quarter as some of the Company’s larger domestic customers slowed their 3-D compatible silver screen orders as certain exhibitors had previously accelerated their digital rollouts to meet certain 3-D movie releases.

The strong Q2 2011 digital projection system sales more than offset lower sales of film-based products during the period compared to a year ago. With the ongoing momentum of the global digital cinema transformation, film-based products continue to be a smaller contributor to the Company’s top-line results, generating $2.6 million in aggregate, versus $5.5 million in the 2010 second quarter.

Ballantyne generated $3.7 million of operating income, compared to $3.2 million in the year-ago quarter, due to the increased sales achieved by the Company as operating margins remained consistent with the prior year. Ballantyne’s net earnings were $2.5 million, or $0.17 per diluted share, compared to $2.8 million, or $0.19 in Q2 2010. The prior-year period results were positively impacted by approximately $1.3 million ($0.8 million after-tax), or $0.06 per diluted share, of equity income and gains pertaining to the Company’s Digital Link II joint venture with RealD (NYSE: RLD).

Consolidated gross profit increased 14% to $6.8 million, or an 18.0% gross margin on net revenues, compared to gross profit of $6.0 million, or 18.2% of net revenues in the year-earlier period. Selling expenses were $1.0 million, or 2.7% of net revenues, up from $0.8 million in Q2 2010, or 2.6% of net sales. The year-over-year increase was primarily the result of additional personnel to expand our international and service marketing efforts and to support our sales offices in China. General and administrative expenditures were essentially flat on a year-over-year basis at $2.1 million, but declined to 5.6% of net revenue, compared to 6.5% in the prior year.

Six-Month Results

Net revenues rose approximately 20% to $69.5 million. Gross profit was $12.8 million, or 18.5% of net revenues, compared to 2010 gross profit through the first six months of $10.3 million, or 17.7% of net revenues. Net earnings were $4.0 million, or $0.28 per diluted share, compared to net earnings of $3.8 million, or $0.26 per diluted share, in the first half of 2010.

Balance Sheet and Cash Flow Update

Ballantyne’s cash and cash equivalents balance at quarter-end increased significantly to $20.8 million, up from $11.6 million at March 31, 2011. As previously disclosed, the lower cash balance at Q1 2011 was largely due to a temporary inventory increase to support future digital projection equipment sales. In Q2, the Company generated cash flow from operations of $9.2 million and spent approximately $0.2 million on capital expenditures.

President and CEO Gary L. Cavey stated, “Ballantyne’s domestic cinema business performed very well during the second quarter as we generated strong year-over-year comparisons in digital projection equipment sales and service. We continue to benefit from the Company’s unique positioning as a turnkey cinema product and services provider, with a wealth of industry relationships established over approximately eight decades in the cinema business. Our service group remains very active with projection system installs and integrations and we are also more aggressively marketing our NOC services to a receptive audience, including many potential targeted customers who did not originally purchase equipment and/or installations from us.

“We are focused on driving more international screen sales and also recently bolstered Ballantyne’s Asian senior management team with the addition of an experienced Chief Operating Officer to support sales efforts in China and other Far Eastern countries where we continue to see opportunities to sell our products and services.

“Given our cash position and untapped $20 million credit facility, we continue to be well-positioned to both fund our working capital needs and explore M&A activities. We intend to effectively deploy this capital as we pursue strategic growth opportunities developed through our merger and acquisition strategy and other strategic initiatives. To assist with these efforts we have retained the investment banking firm of George K. Baum & Company.

“Our management team remains focused on completing accretive purchases that most effectively leverage and build upon our unique positioning as a leading turnkey provider of digital cinema products and services and our core competencies including strong customer service, global distribution and service networks, and proven skills in providing integration and installation of electronic components, among other items. While Management and the Board continually explore capital deployment strategies, we collectively agree that the time is not right for alternative allocations of capital, including, but not limited to, dividends and stock repurchases.

“We expanded and further enhanced our U.S. senior management team with the recent appointment of seasoned corporate executive Mary A. Carstens as the Company’s new CFO. Mary brings three decades of relevant financial experience to Ballantyne, as well as expertise in navigating international markets, including Asia. Importantly, former CFO, Kevin Herrmann will continue to serve the Company in a senior financial role as Vice President, Secretary and Treasurer. He will also remain active in shareholder relations. Kevin has very strong industry knowledge and a long, successful tenure with our organization. Lastly, we welcomed two new directors in June when Samuel C. Freitag and Donde Plowman agreed to join our Board.”

About Ballantyne Strong, Inc. (www.strong-world.com)

Ballantyne Strong is a provider of digital cinema projection equipment and services as well as cinema screens, motion picture projectors and specialty lighting equipment and services. The Company supplies major and independent theater chains, top arenas, theme parks and architectural sites around the world.

Except for the historical information in this press release, it includes forward-looking statements that involve risks and uncertainties, including but not limited to, quarterly fluctuations in results; customer demand for the Company’s products; the development of new technology for alternate means of motion picture presentation; domestic and international economic conditions; the management of growth; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings. Actual results may differ materially from management’s expectations.

-tables follow-

Scorpex (SRPX) Engages Accounting Group to Prepare for its Audit

Hollysys Automation Technologies (HOLI) to Participate in Upcoming Investor Events

BroadSoft (BSFT) Reports Record Second Quarter 2011 Financial Results

GAITHERSBURG, MD — (Marketwire) — 08/08/11 — BroadSoft, Inc. (NASDAQ: BSFT), the leading global provider of software that enables mobile, fixed-line, and cable service providers to deliver real time voice and multimedia communications services over their IP-based networks, today announced financial results for the quarter and six months ended June 30, 2011.

Financial Highlights for the Second Quarter of 2011

• Total revenue increased 63% year-over-year to $32.2 million
• License revenue increased 82% year-over-year to $19.2 million
• GAAP gross profit increased to 81% of total revenue; non-GAAP gross profit increased to 82% of total revenue
• GAAP income from operations increased to $5.6 million or 18% of revenue; non-GAAP income from operations increased to $7.8 million, or 24% of revenue.
• GAAP diluted EPS increased to $0.57 per common share; non-GAAP diluted EPS increased to $0.29 per common share

Results for the three months ended June 30, 2011

Total revenue rose to $32.2 million in the second quarter of 2011, an increase of 63% compared to $19.8 million in the second quarter of 2010.

Net income for the second quarter of 2011 was $15.8 million, or $0.57 per diluted common share, compared to a net loss of ($1.8) million, or $(0.20) per basic and diluted common share, for the second quarter of 2010. In addition, GAAP results for the second quarter of 2011 included an income tax benefit of $9.9 million, or $0.36 per diluted common share, resulting from the release of a tax valuation allowance relating to net deferred tax assets.

On a non-GAAP basis, net income for the second quarter of 2011 was $8.2 million, or $0.29 per diluted common share, compared to a non-GAAP net loss of $0.5 million, or $(0.03) per basic and diluted common share, in the second quarter of 2010. A reconciliation of non-GAAP and GAAP results is included in the financial tables below.

Results for the six months ended June 30, 2011

Total revenue was $61.8 million for the first six months of 2011, compared to $37.6 million for the first six months of 2010, reflecting year-over-year growth of 65%.

Net income for the first six months of 2011 was $19.5 million, or $0.70 per diluted share, compared to a net loss of ($4.4) million, or $(0.58) per basic and diluted share for the first six months of 2010. In addition, GAAP results for the six months ended June 30, 2011 included an income tax benefit of $9.9 million, or $0.36 per diluted common share, resulting from the release of a tax valuation allowance.

On a non-GAAP basis, net income for the first six months of 2011 was $13.2 million or $0.48 per diluted share, compared to a non-GAAP net loss of ($2.6) million, or $(0.13) per basic and diluted share in the first six months of 2010. A reconciliation of non-GAAP and GAAP results is included in the financial tables below.

Management Commentary

“We continue to see demand across our product line grow globally, helping drive our record second quarter financial results,” said Michael Tessler, president and chief executive officer, BroadSoft. “We believe our financial performance for the first half of 2011 demonstrates our ability to execute our long-term strategy of enabling our customers to deliver innovative, real-time communications services to their subscribers.”

“We are again delighted to deliver another strong quarter, marked by an 82% increase in license revenue compared to the same period in 2010, driven primarily by robust demand from our North American service provider customers,” said Jim Tholen, chief financial officer, BroadSoft. “Our margins and profitability improved significantly relative to last year’s second quarter, as operating margins rose to 24% on a non-GAAP basis. In addition, we generated $8.9 million in cash flow from operations during the second quarter and ended the quarter with cash, cash equivalents and marketable securities totaling $194.1 million.”

Guidance

For the third quarter of 2011, BroadSoft anticipates revenue of $31.0 million to $33.0 million, which represents growth of 39% to 48% over third quarter 2010 revenue of $22.3 million. The Company expects to achieve third quarter earnings on a non-GAAP basis of $0.20 to $0.23 per diluted common share and on a GAAP basis of $0.16 to $0.19 per diluted common share.

For the full year 2011, BroadSoft is increasing its guidance and now expects revenue of $127.0 to $130.0 million, reflecting growth of 33% to 36% over 2010 revenue of $95.6 million. The Company anticipates full year 2011 earnings on a non-GAAP basis of $0.90 to $0.95 per diluted common share and on a GAAP basis of $1.10 to $1.15 per diluted common share, which includes an estimated income tax benefit of $0.52 per diluted common share resulting from the release of a tax valuation allowance.

Conference Call

BroadSoft will discuss its second quarter results and business outlook today via teleconference at 8:00 a.m. Eastern Time. To participate in the teleconference, callers can dial the toll free number 1-877-312-5517 (U.S. callers only) or +1-760-666-3772 (from outside the U.S.). The conference call can also be heard live via audio webcast at http://investors.broadsoft.com/events.cfm. To help ensure the conference begins on time, please dial in or connect via the web five minutes prior to the scheduled start time.

For those unable to participate in the live call, an audio replay will be available between 11:00 a.m. Eastern Time August 8, 2011 and 11:59 p.m. Eastern Time August 25, 2011 by calling 1-855-859-2056 or +1-404-537-3406, with Conference ID 83055974. A recording of the call will be available at http://investors.broadsoft.com beginning two hours following the conclusion of the call until September 8, 2011.

Use of Non-GAAP Financial Measures

BroadSoft has provided in this release, and will provide on this morning’s teleconference, financial information that has not been prepared in accordance with generally accepted accounting principles, or GAAP. BroadSoft uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating BroadSoft’s ongoing operational performance. BroadSoft’s management regularly uses these non-GAAP financial measures to understand and manage its business and believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain non-cash expenses, and may include additional adjustments for items that are infrequent in nature. BroadSoft believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial results with other companies in BroadSoft’s industry, many of which present similar non-GAAP financial measures to investors. A reconciliation of the non-GAAP financial measures included in this release and to be discussed on this morning’s teleconference to the most directly comparable GAAP financial measures is set forth below.

Non-GAAP net income (loss) and net income (loss) per share. BroadSoft defines non-GAAP net income (loss) as net income (loss) plus stock-based compensation expense, amortization expense for acquired intangible assets and non-cash interest expense on the Company’s convertible notes, less the tax benefit related to a valuation allowance release. BroadSoft defines non-GAAP income (loss) per share as non-GAAP net income (loss) divided by the weighted average shares outstanding. Also, in calculating non-GAAP net loss per share for the three and six months ended June 30, 2010, BroadSoft adjusted the GAAP weighted average shares outstanding to include shares of redeemable convertible preferred stock on an “as-if-converted to common stock” basis. BroadSoft considers these non-GAAP financial measures to be useful metrics for management and investors because they exclude the effect of certain non-cash expenses so that management and investors can compare BroadSoft’s core business operating results over multiple periods.

Non-GAAP gross margin, license gross margin and maintenance and services gross margin. BroadSoft defines non-GAAP gross margin as gross margin plus stock-based compensation expense and amortization expense for acquired intangible assets. BroadSoft considers non-GAAP gross margin to be a useful metric for management and investors because it excludes the effect of certain non-cash expenses so that management and investors can compare BroadSoft’s sales margins over multiple periods. Where BroadSoft provides further breakdown of non-GAAP gross margin between license and maintenance services, the Company adds back the stock-based compensation expense and amortization expense, as applicable, to the related gross margin.

Non-GAAP income (loss) from operations. BroadSoft defines non-GAAP income (loss) from operations as income (loss) from operations plus stock-based compensation expense and amortization expense for acquired intangible assets. BroadSoft considers non-GAAP income (loss) from operations to be a useful metric for management and investors because it excludes the effect of certain non-cash expenses so that management and investors can compare BroadSoft’s core business operating results over multiple periods. Where BroadSoft provides further breakdown of non-GAAP operating expenses for sales and marketing, research and development and general and administrative, the Company deducts stock-based compensation expense included in the applicable expense item.

The presentation of non-GAAP net income (loss), non-GAAP net income (loss) per share, non-GAAP gross margin, non-GAAP income (loss) from operations and other non-GAAP financial measures in this release and on this morning’s teleconference is not meant to be a substitute for “net income (loss),” “net income (loss) per share,” “gross margin,” “income (loss) from operations” or other financial measures presented in accordance with GAAP, but rather should be evaluated in conjunction with such data. BroadSoft’s definition of “non-GAAP net income (loss),” “non-GAAP net income (loss) per share,” “non-GAAP gross margin,” “non-GAAP income (loss) from operations” and other non-GAAP financial measures may differ from similarly titled non-GAAP measures used by other companies and may differ from period to period. In reporting non-GAAP measures in the future, management may make other adjustments for expenses and gains that it does not consider reflective of core operating performance in a particular period and may modify “non-GAAP net income (loss),” “non-GAAP net income (loss) per share,” “non-GAAP gross margin,” “non-GAAP income (loss) from operations” and such other non-GAAP measures by excluding these expenses and gains.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by their use of terms and phrases such as “anticipate, “enable,” “estimate,” “expect,” “will,” “believe” and other similar terms and phrases, and such forward-looking statements include, but are not limited to, the statements regarding the Company’s future financial performance set forth under the heading “Guidance.” The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including, but not limited to: the Company’s dependence on the success of BroadWorks® and on its service provider customers to sell services using its applications; claims that the Company infringes the intellectual property rights of others; the Company’s dependence in large part on service providers’ continued deployment of, and investment in, their IP-based networks; and the Company’s ability to expand its product offerings, as well as those factors contained in the “Risk Factors” section of the Company’s Form 10-Q for the quarter ended June 30, 2011 filed with the Securities and Exchange Commission, or SEC, on August 8, 2011, and in the Company’s other filings with the SEC. All information in this release is as of August 8, 2011. Except as required by law, the Company undertakes no obligation to update publicly any forward-looking statement made herein for any reason to conform the statement to actual results or changes in the Company’s expectations.

About BroadSoft

BroadSoft provides software that enables mobile, fixed-line and cable service providers to deliver voice and multimedia services over their IP-based networks. The Company’s software, BroadWorks, enables service providers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications, such as hosted IP private branch exchanges, video calling, unified communications, collaboration and converged mobile and fixed-line services.

Financial Statements

The financial statements set forth below are not the complete set of the Company’s financial statements for the quarter and are presented below without footnotes. Readers are encouraged to obtain and carefully review BroadSoft’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, including all financial statements contained therein and the footnotes thereto, as filed with the SEC on August 8, 2011. The SEC, the Form 10-Q may be retrieved from the SEC’s website at www.sec.gov or from BroadSoft’s website at www.broadsoft.com.

                               BroadSoft, Inc
                   Condensed Consolidated Balance Sheets
                                (unaudited)

                                                   June 30,    December 31,
                                                      2011          2010
                                                 ------------  ------------
                                                    (In thousands, except
                                                  share and per share data)
Assets:
Current assets:
  Cash and cash equivalents                      $    157,984  $     47,254
  Short-term investments                               36,125        13,703
  Accounts receivable, net of allowance for
   doubtful accounts of $54 and $38 at June 30,
   2011 and December 31, 2010, respectively            34,083        40,491
  Deferred tax asset                                   16,481             -
  Other current assets                                  5,740         4,866
                                                 ------------  ------------

    Total current assets                              250,413       106,314
                                                 ------------  ------------
Long-term assets:
  Property and equipment, net                           3,657         3,590
  Long-term investments                                   759         4,970
  Restricted cash                                         937           972
  Intangible assets, net                                3,219         3,709
  Goodwill                                              6,226         6,226
  Other long-term assets                                3,329         1,575
                                                 ------------  ------------
    Total long-term assets                             18,127        21,042
                                                 ------------  ------------
      Total assets                               $    268,540  $    127,356
                                                 ============  ============
Liabilities and stockholders' equity:
Current liabilities:
  Accounts payable and accrued expenses          $      9,232  $     12,439
  Notes payable and bank loans, current portion         1,194         1,170
  Deferred revenue, current portion                    53,014        57,437
                                                 ------------  ------------
      Total current liabilities                        63,440        71,046

Convertible senior notes                               79,551             -
Notes payable and bank loans                                -           800
Deferred revenue, net of current portion                1,365         1,827
Deferred tax liability                                  6,589             -
Other long-term liabilities                             1,066         1,138
                                                 ------------  ------------
      Total liabilities                               152,011        74,811
                                                 ------------  ------------

Stockholders' equity:

  Preferred stock, $0.01 par value per share;
   5,000,000 shares authorized at June 30, 2011
   and December 31, 2010; no shares issued and
   outstanding at June 30, 2011 and December 31,
   2010                                                     -             -
  Common stock, par value $0.01 per share;
   100,000,000 shares authorized at June 30,
   2011 and December 31, 2010; 26,889,058 and
   25,452,227 shares issued and outstanding at
   June 30, 2011 and December 31, 2010,
   respectively                                           269           255
  Additional paid-in capital                          187,260       142,508
  Accumulated other comprehensive loss                 (2,004)       (1,736)
  Accumulated deficit                                 (68,996)      (88,482)
                                                 ------------  ------------
Total stockholders' equity                            116,529        52,545
                                                 ------------  ------------
Total liabilities and stockholders' equity       $    268,540  $    127,356
                                                 ============  ============

                               BroadSoft, Inc
              Condensed Consolidated Statements of Operations
                                (unaudited)

                                     Three Months Ended   Six Months Ended
                                          June 30,            June 30,
                                     ------------------  ------------------
                                       2011      2010      2011      2010
                                     --------  --------  --------  --------
                                      (In thousands, except per share data)
Revenue:
  Licenses                           $ 19,202  $ 10,555  $ 34,393  $ 19,338
  Maintenance and services             12,977     9,216    27,440    18,237
                                     --------  --------  --------  --------
    Total revenue                      32,179    19,771    61,833    37,575

Cost of revenue:
  Licenses                              1,345     1,026     2,621     2,242
  Maintenance and services              4,635     3,842     8,950     7,227
  Amortization of intangibles             251       192       490       385
                                     --------  --------  --------  --------
    Total cost of revenue               6,231     5,060    12,061     9,854
                                     --------  --------  --------  --------

Gross profit                           25,948    14,711    49,772    27,721

Operating expenses:
  Sales and marketing                   9,077     7,710    17,561    14,812
  Research and development              6,730     4,952    13,546     9,443
  General and administrative            4,496     3,608     8,882     6,887
                                     --------  --------  --------  --------
    Total operating expenses           20,303    16,270    39,989    31,142
                                     --------  --------  --------  --------

Income (loss) from operations           5,645    (1,559)    9,783    (3,421)

Other expense (income):
  Interest income                         (44)      (10)      (87)      (12)
  Interest expense                        238       393       258       699
  Other (income) expense, net               -       (12)        -       173
                                     --------  --------  --------  --------
    Total other expense                   194       371       171       860
                                     --------  --------  --------  --------
Income (loss) before income taxes       5,451    (1,930)    9,612    (4,281)
  (Benefit from) provision for
   income taxes                       (10,340)     (156)   (9,874)      126
                                     --------  --------  --------  --------
Net income (loss)                    $ 15,791  $ (1,774) $ 19,486  $ (4,407)
                                     ========  ========  ========  ========

Net income (loss) per common share
 available to BroadSoft, Inc. common
 stockholders:
  Basic                              $   0.59  $  (0.20) $   0.74  $  (0.58)
  Diluted                            $   0.57  $  (0.20) $   0.70  $  (0.58)

Weighted average common shares
 outstanding:
  Basic                                26,670     8,824    26,189     7,615
  Diluted                              27,939     8,824    27,796     7,615

Stock-based compensation expense
 included above:
  Cost of revenue                    $    211  $     57  $    277  $     92
  Sales and marketing                     415       254       749       365
  Research and development                510       201       757       267
  General and administrative              765       551     1,220       660

                              BroadSoft, Inc.
           Summary of Condensed Consolidated Cash Flow Activity
                                (unaudited)
                                                         Six months ended
                                                           June 30, 2011
                                                        --------------------

Net cash provided by operating activities               $            11,990
Net cash used in investing activities                               (19,055)
Net cash provided by financing activities                           117,727

                              BroadSoft, Inc.

               Reconciliation of Non-GAAP Financial Measures
                                (Unaudited)

                     Three Months Ended   Three Months    Six Months Ended
                          June 30,            Ended           June 30,
                       2011      2010    March 31, 2011    2011      2010
                     --------  --------  --------------  --------  --------
                                         (In thousands)

Non-GAAP gross
 profit:
GAAP gross profit    $ 25,948  $ 14,711  $       23,824  $ 49,772  $ 27,721
  (percent of total
   revenue)                81%       74%             80%       80%       74%
Plus:
  Stock-based
   compensation
   expense                211        57              66       277        92
  Amortization of
   acquired
   intangible assets      251       192             239       490       385
                     --------  --------  --------------  --------  --------

Non-GAAP gross
 profit              $ 26,410  $ 14,960  $       24,129  $ 50,539  $ 28,198
                     ========  ========  ==============  ========  ========
  (percent of total
   revenue)                82%       76%             81%       82%       75%

GAAP license gross
 profit              $ 17,606  $  9,337  $       13,676  $ 31,282  $ 16,711
  (percent of
   related revenue)        92%       88%             90%       91%       86%
Plus:
  Stock-based
   compensation
   expense                 62        31              30        92        48
  Amortization of
   acquired
   intangible assets      251       192             239       490       385

Non-GAAP license
 gross profit        $ 17,919  $  9,560  $       13,945  $ 31,864  $ 17,144
                     ========  ========  ==============  ========  ========
  (percent of
   related revenue)        93%       91%             92%       93%       89%

GAAP maintenance and
 services gross
 profit              $  8,342  $  5,374  $       10,148  $ 18,490  $ 11,010
  (percent of
   related revenue)        64%       58%             70%       67%       60%
Plus:
  Stock-based
   compensation
   expense                149        26              36       185        44

Non-GAAP maintenance
 and services gross
 profit              $  8,491  $  5,400  $       10,184  $ 18,675  $ 11,054
                     ========  ========  ==============  ========  ========
  (percent of
   related revenue)        65%       59%             70%       68%       61%

                              BroadSoft, Inc.

               Reconciliation of Non-GAAP Financial Measures
                                (Unaudited)

                   Three Months Ended    Three Months    Six Months Ended
                        June 30,             Ended           June 30,
                     2011      2010     March 31, 2011    2011      2010
                   --------  --------   --------------  --------  --------
                                        (In thousands)
Non-GAAP income
 (loss) from
 operations:
GAAP income (loss)
 from operations   $  5,645  $ (1,559)  $        4,138  $  9,783  $ (3,421)
  (percent of
   total revenue)        18%       (8)%             14%       16%       (9)%
Plus:
  Stock-based
   compensation
   expense            1,901     1,063            1,102     3,003     1,384
  Amortization of
   acquired
   intangible
   assets               251       192              239       490       385
                   --------  --------   --------------  --------  --------

Non-GAAP income
 (loss) from
 operations        $  7,797  $   (304)  $        5,479  $ 13,276  $ (1,652)
                   ========  ========   ==============  ========  ========
  (percent of
   total revenue)        24%       (2)%             18%       21%       (4)%

GAAP operating
 expense           $ 20,303  $ 16,270   $       19,686  $ 39,989  $ 31,142

Less:
  Stock-based
   compensation
   expense            1,690     1,006            1,036     2,726     1,292
                   --------  --------   --------------  --------  --------

Non-GAAP operating
 expense           $ 18,613  $ 15,264   $       18,650  $ 37,263  $ 29,850
                   ========  ========   ==============  ========  ========
  (as percent of
   total revenue)        58%       77%              63%       60%       79%

GAAP sales and
 marketing expense $  9,077  $  7,710   $        8,484  $ 17,561  $ 14,812

Less:
  Stock-based
   compensation
   expense              415       254              334       749       365
                   --------  --------   --------------  --------  --------

Non-GAAP sales and
 marketing expense $  8,662  $  7,456   $        8,150  $ 16,812  $ 14,447
                   ========  ========   ==============  ========  ========
  (as percent of
   total revenue)        27%       38%              27%       27%       38%

GAAP research and
 development
 expense           $  6,730  $  4,952   $        6,816  $ 13,546  $  9,443

Less:
  Stock-based
   compensation
   expense              510       201              247       757       267
                   --------  --------   --------------  --------  --------

Non-GAAP research
 and development
 expense           $  6,220  $  4,751   $        6,569  $ 12,789  $  9,176
                   ========  ========   ==============  ========  ========
  (as percent of
   total revenue)        19%       24%              22%       21%       24%

GAAP general and
 administrative
 expense           $  4,496  $  3,608   $        4,386  $  8,882  $  6,887

Less:
  Stock-based
   compensation
   expense              765       551              455     1,220       660
                   --------  --------   --------------  --------  --------

Non-GAAP general
 and
 administrative
 expense           $  3,731  $  3,057   $        3,931  $  7,662  $  6,227
                   ========  ========   ==============  ========  ========
  (as percent of
   total revenue)        12%       15%              13%       12%       17%

                              BroadSoft, Inc.

               Reconciliation of Non-GAAP Financial Measures
                                (Unaudited)

                      Three Months Ended   Three Months   Six Months Ended
                           June 30,            Ended          June 30,
                        2011      2010    March 31, 2011   2011      2010
                      --------  --------  -------------- --------  --------
                              (In thousands, except per share data)

Non-GAAP net income
 (loss) and income
 (loss) per share:
GAAP net income
 (loss)               $ 15,791  $ (1,774) $        3,695 $ 19,486  $ (4,407)

Adjusted for:
  Stock-based
   compensation
   expense               1,901     1,063           1,102    3,003     1,384
  Amortization of
   acquired
   intangible assets       251       192             239      490       385
  Non-cash interest
   expense on our
   convertible notes       172         -               -      172         -
  Tax benefit related
   to valuation
   allowance release    (9,926)        -               -   (9,926)        -
                      --------  --------  -------------- --------  --------

Non-GAAP net income
 (loss)               $  8,189  $   (519) $        5,036 $ 13,225  $ (2,638)
                      ========  ========  ============== ========  ========

GAAP net income
 (loss) per basic
 common share         $   0.59  $  (0.20) $         0.14 $   0.74  $  (0.58)

Adjusted for:
  Adjustment for
   preferred stock
   conversion (1)            -      0.11               -        -      0.36
  Stock-based
   compensation
   expense                0.07      0.05            0.04     0.11      0.07
  Amortization of
   acquired
   intangible assets      0.01      0.01            0.01     0.02      0.02
  Non-cash interest
   expense on our
   convertible notes      0.01         -               -     0.01         -
  Tax benefit related
   to valuation
   allowance release     (0.37)        -               -    (0.38)        -
                      --------  --------  -------------- --------  --------

Non-GAAP net income
 (loss) per basic
 common share         $   0.31  $  (0.03) $         0.19 $   0.50  $  (0.13)
                      ========  ========  ============== ========  ========

GAAP net income per
 diluted common share
 (2)                  $   0.57            $         0.13 $   0.70

Adjusted for:
  Stock-based
   compensation
   expense                0.06                      0.04     0.11
  Amortization of
   acquired
   intangible assets      0.01                      0.01     0.02
  Non-cash interest
   expense on our
   convertible notes      0.01                         -     0.01
  Tax benefit related
   to valuation
   allowance release     (0.36)                        -    (0.36)
                      --------            -------------- --------

Non-GAAP net income
 per diluted common
 share                $   0.29            $         0.18 $   0.48
                      ========            ============== ========

Non-GAAP weighted
 average shares
 outstanding:(3)
GAAP weighted average
 shares outstanding                8,824                              7,615

Adjusted for:
  Adjustment for
   convertible
   preferred stock
   conversion                     11,538                             12,246

Non-GAAP weighted
 average shares
 outstanding                      20,362                             19,861

(1) For purposes of the calculation of non-GAAP net loss per basic and
diluted common share for the three and six months ended June 30, 2010, GAAP
weighted average shares outstanding was adjusted as if the conversion of all
shares of redeemable convertible preferred stock into common stock occurred
at the beginning of the period.

(2) Net loss per diluted common share for the three and six months ended
June 30, 2010 is not presented because the effect of the share equivalents
is anti-dilutive given the Company's losses for this period. As a result,
non-GAAP net loss per diluted common share is equal to non-GAAP net loss per
basic common share for these periods.

(3) For the calculation of GAAP weighted average shares outstanding, the
shares of common stock underlying shares of redeemable convertible preferred
stock were not included for the period prior to the Company's initial public
offering of its common stock, whereas for the non-GAAP weighted average
shares outstanding, the conversion of all shares of redeemable convertible
preferred stock was assumed to have occurred at the beginning of the
respective periods.

                              BroadSoft, Inc.

               Reconciliation of Non-GAAP Financial Measures
                                (Unaudited)

                            Three Months Ending           Year Ending
                            September 30, 2011         December 31, 2011
                         ------------------------  ------------------------
                           Low End      High End     Low End      High End
                         -----------  -----------  -----------  -----------
                                (In thousands, except per share data)
Non-GAAP net income:

GAAP net income          $     4,400  $     5,400  $    30,700  $    32,300

Adjusted for:
  Stock-based
   compensation expense        1,900        1,900        6,800        6,800
  Amortization of
   acquired intangible
   assets                        250          250        1,000        1,000
  Non-cash interest
   expense on our
   convertible notes             500          500        1,130        1,130
  Tax benefit related to
   valuation allowance
   release                    (1,610)      (1,610)     (14,500)     (14,500)
                         -----------  -----------  -----------  -----------

Non-GAAP net income      $     5,440  $     6,440  $    25,130  $    26,730
                         ===========  ===========  ===========  ===========

Non-GAAP net income per
 share:

GAAP net income per
 diluted common share    $      0.16  $      0.19  $      1.10  $      1.15

Adjusted for:
  Stock-based
   compensation expense         0.07         0.07         0.24         0.24
  Amortization of
   acquired intangible
   assets                       0.01         0.01         0.04         0.04
  Non-cash interest
   expense on our
   convertible notes            0.02         0.02         0.04         0.04
  Tax benefit related to
   valuation allowance
   release                     (0.06)       (0.06)       (0.52)       (0.52)
                         -----------  -----------  -----------  -----------

Non-GAAP net income per
 diluted common share    $      0.20  $      0.23  $      0.90  $      0.95
                         -----------  -----------  -----------  -----------

Contact Information
For further information contact:
Investor Relations:
Monica Gould
+1-212-871-3927
monica@blueshirtgroup.com

Industry Analyst / Media Relations:
Elaine Myada
+1-240-720-9558
emyada@broadsoft.com

Brian Lustig
+1-301-775-6203
brian@lustigcommunications.com

The Dixie Group (DXYN) Reports Second Quarter 2011 Results

The Dixie Group, Inc. (NASDAQ:DXYN) today reported financial results for the second quarter ended July 2, 2011. In the second quarter of 2011, the Company had sales of $69,200,000 and income from continuing operations of $808,000, or $0.06 per diluted share, compared with a loss from continuing operations of $684,000, or $0.05 per diluted share for the second quarter of 2010. Net sales increased 17.2% for the fiscal second quarter of 2011 as compared with the second quarter of 2010. For the year-to-date, sales are $135,154,000 and income from continuing operations is $1,452,000 or $0.11 per diluted share, compared with sales of $109,512,000 and a loss from continuing operations of $3,143,000, or $0.25 per diluted share, for the year-ago period. Net sales for the year-to-date are 23.4% above the same period of 2010.

Commenting on the results, Daniel K. Frierson, chairman and chief executive officer, said, Dixie had strong growth in the quarter with a 17% improvement in sales compared to modest growth for the industry. Our commercial products had growth of 20%, which we believe is significantly above the industry. Notable was growth in the modular carpet tile sector, which continues to exceed that of the broadloom product category in commercial products for both Dixie and the industry. Likewise, our residential product sales grew over 15% above the same period in 2010. This increase is in contrast with sales decline for the residential market. The residential carpet market, plagued by low sales of new and existing residential homes as well as by tight credit, is still working its way through the recovery from the severe economic downturn of the last few years.

Having completed six consecutive quarters of sales growth in excess of the industry, we believe that our strategy of continuing to invest in new products during this historic downturn has proven successful and positions us for the future. We have seen significant sales growth at the very high end as evidenced by double-digit sales growth during the period for our Fabrica business as well as for our Masland wool and rug products. We continue to believe that the upper end customer has regained confidence, as demonstrated by our improved sales to the upper end of the market. Our Dixie Home line has had particular success with the Stainmaster products introduced in the last year. Masland Contract continues to see excellent growth in the commercial market, particularly its modular carpet tile products and sales to end users.

During the second quarter we had rising raw material costs. We implemented a price increase but due to the timing differences, margins were compressed during the period. In addition, we had unusually heavy shipments to our larger commercial accounts; therefore, our gross profit, at 24.2% of net sales was below our margin of 25.8% for the same period a year ago. We have taken advantage of one-time opportunities for added business during the summer months, which we anticipate will continue to cause us to have tight margins during the third quarter. However, our selling, general and administrative expenses will continue to compare favorably to the prior year due to higher sales volumes in the current year. Our S,GA, at 21.6% of sales, was 3.8 percentage points below last years 25.4% of sales for the second quarter.

As we saw the industry slowdown late in the second quarter, we maintained a tight rein on running schedules, inventories and overtime; however, we have continued to see growth in all of our brands in the first four weeks of the third quarter.

Capital expenditures were $2.1 million for the year-to-date, while depreciation and amortization was $4.9million. We continue to underspend our depreciation and amortization levels. We anticipate total capital expenditures of $6.2 million for the year, the bulk of which will be used to expand our capacity and capabilities in our yarn operations. Total debt, which normally rises during the middle of the year, increased by $4.0 million during the quarter to $72.3 million. We recorded a gain of $563,000 in our facility consolidation and severance expense primarily due to the settlement of the lease on our Pullman facility, thus completing the last of the restructuring plans initiated during the recent economic downturn. The unused borrowing capacity under our credit lines was $11.3 million as of July 2, 2011, and $14.8 million as of August 3, 2011. We are in the due diligence phase with potential lenders regarding the replacement of our current revolving and term credit agreements. The purpose of such transactions is to repay the $9.7million of convertible subordinated debentures due in May of 2012, to extend our financing for another five-year period and to provide the funding needed to continue our growth.

Continued uncertainty in the economy, along with a stubbornly high unemployment rate and a weak housing recovery, will likely remain through the rest of the year. We continue to invest, however, in new products and processes as we maintain our goal of being the fashion leader in the industry. We feel that the continued investment in beautiful products, responsive operations and strong controls over expenses are the formulas needed to be able to continue to outgrow the industry during these uncertain times, Frierson concluded.

The Companys loss from discontinued operations was $42,000, or $0.00 per diluted share, for the second quarter of 2011, compared with a loss from discontinued operations of $60,000, or $0.01 per diluted share, for the prior year. Including discontinued operations, the Company reported net income of $766,000, or $0.06 per diluted share, for the second quarter of 2011 compared with a net loss of $744,000, or $0.06 per diluted share, for the year-earlier period. The Companys loss from discontinued operations was $62,000, or $0.00 per diluted share, for the six months ended July 2, 2011, compared with a loss from discontinued operations of $130,000, or $0.01 per diluted share, for the six-month period ended June 26, 2010. Including discontinued operations, the Company reported net income of $1,390,000 of $0.11 per diluted share, for the first six months of 2011 compared with a net loss of $3,273,000, or $0.26 per diluted share, for the prior period.

A listen-only Internet simulcast and replay of Dixie’s conference call may be accessed with appropriate software at the Company’s website or at www.earnings.com. The simulcast will begin at approximately 11:00 a.m. Eastern Time on August 4, 2011. A replay will be available approximately two hours later and will continue for approximately 30 days. If Internet access is unavailable, a listen-only telephonic conference will be available by dialing (913) 312-1481 at least ten minutes before the appointed time. A seven-day telephonic replay will be available two hours after the call ends by dialing (719) 457-0820 and entering 4372890 when prompted for the access code. For further information, please see updated investor presentation at www.thedixiegroup.com and click on the Investor Relations tab; file is listed under Overview – Featured Reports.

The Dixie Group (www.thedixiegroup.com) is a leading marketer and manufacturer of carpet and rugs to higher-end residential and commercial customers through the Fabrica International, Masland Carpets, Dixie Home, Masland Contract and Whitespace brands.

Statements in this news release, which relate to the future, are subject to risk factors and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements. Such factors include the levels of demand for the products produced by the Company. Other factors that could affect the Company’s results include, but are not limited to, raw material and transportation costs related to petroleum prices, the cost and availability of capital, and general economic and competitive conditions related to the Company’s business. Issues related to the availability and price of energy may adversely affect the Company’s operations. Additional information regarding these and other risk factors and uncertainties may be found in the Company’s filings with the Securities and Exchange Commission.

Use of Non-GAAP Financial Information:

(in thousands)

The Company believes that non-GAAP performance measures, which management uses in evaluating the Company’s business, may provide users of the Company’s financial information with additional meaningful bases for comparing the Company’s current results and results in a prior period, as these measures reflect factors that are unique to one period relative to the comparable period. However, the non-GAAP performance measures should be viewed in addition to, not as an alternative for, the Company’s reported results under accounting principles generally accepted in the United States.

The first six months of 2011 contained 27 operating weeks compared with 26 operating weeks in the first six months of 2010. Percentage changes in net sales have been adjusted to reflect the comparable number of weeks in the reporting periods.

The Company defines Adjusted Operating Income (Loss) as Operating Income (Loss) plus facility consolidation expenses and severance expenses, plus impairment of assets, plus impairment of goodwill, plus one-time items so defined.

Ultralife Corp. (ULBI) Reports Second Quarter Results

Ultralife Corporation (NASDAQ: ULBI) reported operating income from continuing operations of $2.9 million on revenue of $43.6 million for the quarter ended July 3, 2011. For the second quarter of 2010, the company reported operating income from continuing operations of $1.0 million on revenue of $33.6 million.

Revenue for our second quarter increased by 29% over last year. The growth was driven by solid demand from our defense customers, including resumed order activity from our core U.S. government customer, and further penetration of our batteries into the metering business in China, said Michael D. Popielec, Ultralifes president and chief executive officer. We are continuing to make progress towards improving the companys profitability through lean manufacturing, reductions in non-value-added overhead and the implementation of plans to further consolidate our facilities footprint. These operational efficiencies are unlocking resources that we are allocating to new product development and expanded sales coverage. Having exited the Energy Services business one quarter ahead of schedule, we are now channeling all of our attention on positioning the company for sustainable, profitable growth.

As a result of our financial performance, working capital management and cash generated from lean initiatives, we reduced our revolver balance by $6.5 million during the second quarter to $3.7 million at quarter end. Working capital efficiencies included the reduction in inventory levels and improved accounts receivable collections, added Philip A. Fain, Ultralifes chief financial officer.

Second Quarter 2011 Financial Results

During the quarter, Ultralife completed the exit of the Energy Services business. As a result, the Energy Services segment has been reclassified as a discontinued operation. In connection with exiting the Energy Services business, the company incurred closing costs of $2.9 million for the first six months of 2011, the cash component of which amounted to $2.0 million. All figures presented below represent results from continuing operations.

Revenue increased by 29% to $43.6 million, compared to $33.6 million for the second quarter of 2010, consisting of a 23% increase in Battery Energy Product sales and a 49% increase in Communications Systems sales.

Gross margin was $11.8 million, or 27.1% of revenue, compared to $9.0 million, or 26.8% of revenue, for the same quarter a year ago, reflecting a favorable mix of high-margin Communications Systems sales. Included in gross margin for the second quarter of 2011 was a $0.3 million severance charge related to overhead reductions.

Operating expenses were $8.9 million, compared to $8.0 million a year ago reflecting higher new product development costs, higher selling expenses, and relocation and severance expenses that did not occur in the same period last year. As a percent of revenue, operating expenses were 20.5%, compared to 23.8% a year ago. Operating income grew to $2.9 million, representing an operating margin of 6.6%, compared to $1.0 million, for an operating margin of 2.9%, for the same quarter last year.

Net income from continuing operations was $2.6 million, or $0.15 per share, compared to $0.6 million, or $0.03 per share, for the second quarter of 2010. Net loss from discontinued operations was $2.1 million, or $0.12 per share, reflecting the cost of exiting the Energy Services business, compared to a net loss of $0.6 million, or $0.03 per share, for the same quarter last year. For the second quarter of 2010, the net loss from discontinued operations represented the operating loss of the Energy Services business.

Six Months Ended July 3, 2011 Financial Results

For the six month period ended July 3, 2011, revenue from continuing operations was $72.0 million, compared to $70.1 million for the same period a year ago. Year-to-date 2011 revenue was negatively impacted by a $2.7 million charge recorded in the first quarter to reflect the settlement with the U.S. Government related to exigent contracts completed between 2003 and 2004. This charge resulted in an operating loss of $1.3 million, compared to operating income of $2.8 million for the first half of 2010. The net loss from continuing operations was $1.5 million, or $0.08 per share, compared to net income of $1.8 million, or $0.11 per share, for the same period a year ago. The net loss from discontinued operations was $3.8 million, or $0.22 per share, including $2.9 million of costs related to the exit of the Energy Services business, compared to a net loss of $1.5 million, or $0.09 per share, for the first half of 2010.

Outlook

Management reaffirmed its guidance for 2011, which calls for revenue of approximately $162 million and operating income of approximately $7.8 million. Management cautions that the timing of orders and shipments may cause variability in quarterly results.

About Ultralife Corporation

Ultralife Corporation serves its markets with products and services ranging from portable power solutions to communications and electronics systems. Through its engineering and collaborative approach to problem solving, Ultralife serves government, defense and commercial customers across the globe.

Headquartered in Newark, New York, the company’s business segments include: Battery Energy Products and Communications Systems. Ultralife has operations in North America, Europe and Asia. For more information, visit www.ultralifecorp.com.

This press release may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. The potential risks and uncertainties that could cause actual results to differ materially include: uncertain global economic conditions, increased competitive environment and pricing pressures, disruptions related to restructuring actions and delays. The Company cautions investors not to place undue reliance on forward-looking statements, which reflect the Company’s analysis only as of today’s date. The Company undertakes no obligation to publicly update forward-looking statements to reflect subsequent events or circumstances. Further information on these factors and other factors that could affect Ultralife’s financial results is included in Ultralife’s Securities and Exchange Commission (SEC) filings, including the latest Annual Report on Form 10-K.

Conference Call Information

Ultralife will hold its second quarter earnings conference call today at 10:00 AM ET. To participate, please call (800) 915-4836, identify yourself and ask for the Ultralife call. The conference call will also be broadcast live over the Internet at http://investor.ultralifecorp.com. To listen to the call, please go to the web site at least fifteen minutes early to download and install any necessary audio software. For those who cannot listen to the live webcast, a replay of the webcast will be available shortly after the call at the same location.

Hardinge (HDNG) Reports Second Quarter 2011 Net Income of $3.1 Million

ELMIRA, N.Y., Aug. 4, 2011 /PRNewswire/ — Hardinge Inc. (NASDAQ: HDNG), a leading international provider of advanced metal-cutting solutions, today announced increased net income, sales and orders for the Company’s second quarter ended June 30, 2011.

Second Quarter 2011 Highlights:

• Orders were $108.1 million, a 26% increase compared to the prior year
• Sales were $86.7 million, a 45% increase compared to the prior year
• Net income was $3.1 million, or $0.27 per diluted share, compared with a net loss of $0.8 million, or ($0.07) per diluted share for the same period of 2010
• Dividend of $0.02 declared, up from $0.005

“Second quarter order and sales activity remained robust, consistent with the strengthening activity we’re seeing across much of the globe,” said Richard L. Simons, President and Chief Executive Officer. “The Company’s six month EBITDA of $10.5 million reflected the benefits of our comprehensive repositioning in 2009 which provided permanent cost reductions, along with more efficient coordination and utilization of our worldwide resources. As expected, we are now leveraging our lower cost structure to provide improved results as global demand for machine tools returns.”

“From all perspectives, our second quarter performance was very strong, and we are pleased by order and sales trends, improved margins, and focused expense management, all of which are contributing to improved profitability. We are gratified by our continued ability to leverage the Company’s global manufacturing and sales platform to effectively compete for new orders regardless of the point of origin. We remain confident that we’ll have a strong performance for the remainder of 2011,” said Mr. Simons.

The following tables summarize orders and sales by geographic region for the quarters and six months ended June 30, 2011 and 2010:

The strong growth in our North America order activity reflected industry demand trends, along with the growing effectiveness of our new distribution partners with whom we’ve been working for just over a year. European order activity for the first half of 2011 increased by 76% over the prior year, and our second quarter orders were the highest level since third quarter 2008. The growth rate for Asia and Other orders for the first half of 2011, slowed in comparison to prior periods, and second quarter orders were down 8%, reflecting the absence of any orders from the Chinese consumer electronics industry supplier which has contributed significantly to our orders in prior quarters. Absent these large orders from a single customer, Asia and Other orders for the second quarter and six months were up 82% and 94%, respectively.

“We remain pleased with the growing pace of demand for machine tools, which is occurring despite the uneven appearance of the economic recovery,” Mr. Simons said. “Some of the current strength of our product demand appears to be coming from customers who are anticipating inflationary pressure on pricing, along with customers looking to avoid the possibility of longer lead times for delivery.”

The Company’s second quarter 2011 gross profit was $23.3 million, an increase of $8.6 million, or 58.8%, compared to the prior year second quarter. Gross margin for the quarter was 26.9%, up from 24.5% for the same period in 2010. The improvement in the Company’s second quarter 2011 gross margin was driven by our product mix along with the continued favorable impact of volume against fixed expenses, cost management initiatives and lower competitive price discounting compared with 2010.

Selling, general and administrative expenses were $19.0 million, or 21.9% of net sales, for second quarter 2011 compared to $16.0 million, or 26.8% of net sales, for the prior year second quarter. The improvement in SGA as a percent of net sales is reflective of increasing sales volume as well as the favorable impact of the Company’s comprehensive restructuring program and the corresponding reduction in fixed expenses.

For the six months ended June 30, 2011, Hardinge generated net income of $4.5 million, or $0.39 per share, compared with a net loss of $6.0 million, or ($0.52) per share for 2010.

Dividend Declared

The Company’s Board of Directors declared a cash dividend of $0.02 per share on the Company’s common stock, payable on September 9, 2011 to stockholders of record as of August 31, 2011.

Non-GAAP Measures

This release contains the non-GAAP measure EBITDA (Earnings Before Interest Tax Depreciation and Amortization). Refer to the accompanying schedules for a discussion of this non-GAAP measure and reconciliation to the reported GAAP measure.

Conference Call

The Company will host a conference call today at 11:00 a.m. Eastern Time to discuss the results for the quarter. The call can be accessed live at 1-866-411-4706 (904-271-2008 for calls originating outside the U.S. and Canada) or via the internet at http://www.videonewswire.com/event.asp?id=80880. A recording of the call will be available approximately one hour after its conclusion at 888-284-7564 (904-596-3174 outside the U.S. Canada) using the reference number: 2670151. This telephone recording will be available through September 30, 2011.A transcript of the call will be available from the “Investor Relations” section of the Company’s website, www.hardinge.com, for one year.

Hardinge is a global designer, manufacturer and distributor of machine tools, specializing in SUPER PRECISION and precision CNC Lathes, high performance Machining Centers, high-end cylindrical and jig Grinding Machines, and technologically advanced Workholding Rotary Products. The Company’s products are distributed to most of the industrialized markets around the world with approximately 77% of the 2010 sales outside of North America. Hardinge has a very diverse international customer base and serves a wide variety of end-user markets. This customer base includes metalworking manufacturers which make parts for a variety of industries, as well as a wide range of end users in the aerospace, agricultural, transportation, basic consumer goods, communications and electronics, construction, defense, energy, pharmaceutical and medical equipment, and recreation industries, among others. The Company has manufacturing operations in Switzerland, Taiwan, the United States, China and the United Kingdom. Hardinge’s common stock trades on the NASDAQ Global Select Market under the symbol, “HDNG.” For more information, please visit http://www.hardinge.com.

This news 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). Such statements are based on management’s current expectations that involve risks and uncertainties. Any statements that are not statements of historical fact or that are about future events may be deemed to be forward-looking statements. For example, words such as “may,” “will,” “should,” “estimates,” “predicts,” “potential,” “continue,” “strategy,” “believes,” “anticipates,” “plans,” “expects,” “intends,” and similar expressions are intended to identify forward-looking statements. The Company’s actual results or outcomes and the timing of certain events may differ significantly from those discussed in any forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

1. EBITDA, a non-GAAP financial measure, is defined as earnings before interest, taxes, depreciation and amortization. EBITDA is used by management to internally measure our operating and management performance and by investors as a supplemental financial measure to evaluate the performance of our business that, when viewed with our GAAP results and the accompanying reconciliation, we believe provides additional information that is useful to gain an understanding of the factors and trends affecting our business.

Contact:
Edward Gaio
Vice President and CFO
(607) 378-4207

Allied Motion (AMOT) Declares Dividend

Allied Motion Technologies Inc. (NASDAQ: AMOT) today announced that it will begin a quarterly cash dividend program. The Board of Directors has declared the first quarterly dividend payment of $.02 per share payable on August 29, 2011 to shareholders of record on August 17, 2011.

The dividend, when annualized, represents approximately 14% of net income achieved for the last twelve months, commented Dick Warzala, President and CEO of Allied Motion. The payment of a cash dividend is in keeping with managements commitment to increase shareholder value and is a demonstration of our confidence in the future of the company. The dividend does not affect our growth strategy as we fully intend to invest in the Company both organically and through acquisitions in the future. In addition, with the payment of a dividend, we would expect to attract new investors into our stock in the future.

Headquartered in Denver, Colorado, Allied Motion designs, manufactures and sells motion control products into applications that serve many industry sectors. Allied Motion is a leading supplier of precision and specialty motion control components and systems to a broad spectrum of customers throughout the world.

The statements in this press release that relate to future plans, events or performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and may contain the word believe, anticipate, expect, project, intend, will continue, will likely result, should or words or phrases of similar meaning. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results of the Company to differ materially from the forward-looking statements. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements as a prediction of actual results. The Company has no obligation or intent to release publicly any revisions to any forward looking statements, whether as a result of new information, future events, or otherwise.

AuthenTec (AUTH) Reports Second Quarter Financial Results

AuthenTec (NASDAQ:AUTH), a leading provider of security and identity management solutions, today reported financial results for the second quarter ended July 1, 2011.

Highlights:

• Second quarter revenue of $16.2 million exceeded guidance and was up 5 percent sequentially
• Smart Sensor revenue grew 5 percent sequentially and 43 percent year over year
• Embedded Security revenue grew 4 percent sequentially and 75 percent year over year
• Forecast third quarter revenue of $18.2 million to $19.2 million and a return to non-GAAP profitability

Revenue for the second quarter of 2011 was $16.2 million, which was above the Companys guidance of $15.0 million to $16.0 million. Second quarter revenue included $11.3 million from Smart Sensor Solutions (SSS), and $4.9 million from Embedded Security Solutions (ESS). This compares to revenue of $15.5 million in the first quarter of 2011, which consisted of $10.8 million of SSS revenue and $4.7 million of ESS revenue, and $10.7 million in the second quarter of 2010, which consisted of $7.9 million of SSS revenue and $2.8 million of ESS revenue.

GAAP Results:

Under Generally Accepted Accounting Principles in the United States of America (GAAP), consolidated net loss for the second quarter of 2011 was $4.8 million, or $0.11 per diluted share. This compares to a GAAP net loss of $5.6 million, or $0.13 per diluted share, in the first quarter of 2011 and a GAAP net loss of $3.9 million, or $0.13 per diluted share, in the second quarter of 2010.

GAAP gross margin in the second quarter of 47.8 percent was in line with the 48.0 percent in the first quarter of 2011 and compares to 51.4 percent in the second quarter of 2010. The year over year decrease in GAAP gross margin was due to increased sales mix of certain PC products acquired in connection with the UPEK transaction along with increased amortization of purchased intangibles. This impact was partially offset by higher margins in the Embedded Security Segment from increased licensing and royalty revenue in the quarter. Total operating expenses on a GAAP basis were $12.3 million, compared to $12.6 million in the first quarter of 2011 and $10.1 million in the second quarter of 2010. The $0.3 million sequential decrease in operating expenses was due to lower Selling and Marketing, General and Administrative and restructuring costs, which were slightly offset by higher RD spending in the quarter.

Non-GAAP Results:

On a non-GAAP basis, consolidated net loss for the second quarter of 2011 was $1.9 million, or $0.04 per diluted share, which exceeded the Companys guidance of a non-GAAP loss of $0.05 to $0.07 per share. Non-GAAP results exclude certain legal and other costs as well as stock-based compensation, the amortization of acquired intangible assets and severance. The second quarter loss compares to a non-GAAP net loss of $2.6 million, or $0.06 per diluted share, in the first quarter of 2011 and a non-GAAP net loss of $2.5 million, or $0.08 per diluted share, in the second quarter of 2010.

Non-GAAP gross margin in the second quarter was 53.7 percent, compared to 52.6 percent in the first quarter of 2011 and 54.6 percent in the second quarter of 2010. The sequential increase in gross margin was due primarily to the higher mix of Government and Access Control revenue and the year-over-year decrease can be attributed to increased sales mix of certain PC products in the Smart Sensor business in the quarter.

Total operating expenses on a non-GAAP basis were $10.4 million, which were in line with the first quarter of 2011 and up from $8.3 million in the second quarter of 2010. Operating expenses reflect higher R D expenses within the Embedded Security business partially offset by lower General and Administrative expenses in the quarter. A reconciliation of second quarter GAAP to non-GAAP results is provided in Table 2 following the text of this press release.

As of July 1, 2011, AuthenTec had approximately $20.2 million in cash and investments, compared to $24.4 million in cash and investments at the end of the first quarter of 2011. AuthenTec had no debt as of July 1, 2011 and April 1, 2011.

Business Update:

Our strong second quarter results reflect continued growth across both of our business segments, driven by increased demand for our portfolio of mobile and network security solutions. This growth, combined with the cost synergies realized as a result of the UPEK acquisition, contributed to revenue and EPS exceeding our guidance for the quarter, said AuthenTec CEO Larry Ciaccia.

During this past quarter, we increased sales of our TrueSuite identity management software which is now being shipped on HP consumer notebooks and is available on our new Web store. As the year continues, we expect versions of our software to be integrated on many more consumer notebook models. Also during the quarter, we secured several new sensor design wins for both the remainder of 2011 and into the 2012 production cycle, including a new laptop design win from a major OEM that should start volume production later this year.

In our Embedded Security business, we posted our fifth consecutive quarter of sequential revenue growth while also securing new customer wins in mobile and network security applications. Our products now provide security from the device to the cloud by securing data and communications, and by protecting content and streaming programming. Highlighting these expanding capabilities in mobile security, our content protection services are being utilized in the popular HBO GO application which has registered nearly 4 million downloads on iPhones, iPads and Android phones. During the quarter we also secured additional design wins around our IPsec solutions for VPN applications on mobile phones. At the device level, we announced new wins in the quarter with semiconductor chip providers who are incorporating our SafeXcel security engines in new gateway and multi-core processor chipsets. Companies are integrating our IP security (IPsec) into new chip designs to enhance the security and high-speed networking compatibility of their offerings.

To leverage what is expected to be a growth opportunity for our sensors in Near Field Communication (NFC)-based mobile commerce, we recently joined forces with several of the leading technology providers in the NFC mobile payment space. This week we announced collaboration with NXP and DeviceFidelity to create secure NFC mobile payment solutions, one of which was used to complete the first biometrically-enabled NFC mobile payment transaction in the U.S. We believe AuthenTec-enabled NFC reference designs created through these and other development efforts will help mobile phone OEMs and wireless carriers address the tremendous growth opportunity as the mobile payment ecosystem continues to mature.

Business Outlook:

Mr. Ciaccia concluded, For the third quarter, revenue is expected to sequentially increase 12 to 18 percent to a range of $18.2 million to $19.2 million. I am pleased to note, given this continued growth and cost management, we also expect to achieve non-GAAP profitability during the third quarter. Non-GAAP operating expenses are expected to be in a range between $9.7 million and $10.3 million. We exceeded our goal of achieving $10 million in annualized cost synergies with full realization of those synergies expected in the third quarter. Looking ahead, I am very excited about the opportunities before us. Our unique portfolio of solutions address growing markets around mobile and network security, and we strongly believe that AuthenTec is on the right course for revenue growth, profitability and continued success in the second half of 2011.

Second Quarter 2011 Financial Results Webcast and Conference Call:

AuthenTec will host a conference call to discuss its second quarter financial results and other information that may be material to investors at 5:00 p.m. Eastern Time (ET) today, August 4, 2011. Investors and analysts may join the conference call by dialing 800-215-2410 and providing the participant pass code 83712978. International callers may join the teleconference by dialing +1-617-597-5410 and using the same pass code. A replay of the conference call will be available beginning at 8:00 p.m. ET and will remain available until midnight ET on Thursday, August 11, 2011. The U.S. replay number is 888-286-8010, with a confirmation code of 96242881. International callers should dial +1-617-801-6888, with the same confirmation code. A live web cast of the conference call will be accessible from the Investor section of the Company’s web site athttp://investors.authentec.com. Following the live webcast, an archived version will be made available on AuthenTecs web site.

Use of GAAP and Non-GAAP Financial Metrics:

To supplement AuthenTecs consolidated financial statements presented in accordance with GAAP, the Company uses non-GAAP financial measures that exclude from the statement of operations the effects of stock-based compensation, certain acquisition-related charges, amortization of certain intangible assets, impairments on investments, and costs related to a reduction in workforce. AuthenTec uses the above non-GAAP financial measures internally to understand, manage and evaluate the business. Management believes it is useful for itself and investors to review, as applicable, both GAAP information and the non-GAAP measures in order to assess the performance of continuing operations and for planning and forecasting in future periods. The presentation of these non-GAAP measures is intended to provide investors with an understanding of the Companys operational results and trends that enables them to analyze the base financial and operating performance and facilitate period-to-period comparisons and analysis of operational trends. AuthenTec believes the presentation of these non-GAAP financial measures is useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision-making. Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered substitutes for or superior to GAAP results. In addition, our non-GAAP financial measures may not be comparable to similarly titled measures utilized by other companies since such other companies may not calculate such measures in the same manner as we do.

Investors are encouraged to review the reconciliation of these non-GAAP financial measures to the comparable GAAP results, which is provided in Table 2 after the text of this release. For additional information regarding these non-GAAP financial measures, and management’s explanation of why it considers such measures to be useful, refer to the filings made from time to time with the Securities and Exchange Commission.

Forward Looking Statements:

This press release contains statements that may relate to expected future results and business trends that are based upon AuthenTecs current estimate, expectations, and projections about the industry, and upon managements beliefs, and certain assumptions it has made that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements relating to integration of our TrueSuite identity management software on additional consumer notebook models by year end, the timing of volume production from design wins for 2011 and 2012, our growth opportunities in the NFC market, revenue, operating expenses and non-GAAP net income in our third quarter, growth opportunities for our technologies and software, annual cost-savings from the UPEK acquisition and revenue growth, profitability and continued success in the second half of 2011. Words such as anticipates, guidance, expects, intends, plans, believes, seeks, estimates, may, should, will, prospects, outlook, forecast, and variations of these words or similar expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, the Companys actual results may differ materially and adversely from those expressed in any forward-looking statement as a result of various factors. These factors include, but are not limited to:the Companys ability to integrate the UPEK business, the Companys ability to operate the acquired business profitably, demand for, and market acceptance of, new and existing fingerprint sensors, identity management software and embedded security products, the Companys ability to secure design wins for enterprise and consumer laptops, wireless devices and products aimed at Government markets, customer design wins materializing into production programs, the timely introduction of new products, the rate at which the Company increases its activity and opportunities in the wireless market, and additional opportunities in various markets for applications that might use AuthenTecs products, the Companys ability to develop and capitalize on its NFC solutions and changes in product mix, as well as other risks detailed from time to time in its SEC filings, including those described in AuthenTecs annual report on Form 10-K filed with the SEC on March 17, 2011. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

About AuthenTec

AuthenTec is the worlds #1 provider of fingerprint sensors, identity management software, and embedded security solutions. AuthenTec solutions address enterprise, consumer and government applications for a growing base of top tier global customers. Already shipped on hundreds of millions of devices, the Company’s smart sensor products, software and embedded security solutions are used virtually everywhere, from the PC on your desk to the mobile device in your hand to the server in the cloud. AuthenTec offers developers and users secure and convenient ways to manage today’s rapidly evolving digital identities and security needs. For more information, visitwww.authentec.com or follow us at twitter.com/authentecnews.