Archive for October, 2011

Alvarion (ALVR) Highlights Growing Portfolio of Wireless Broadband Solutions at 4G World

Alvarion Ltd. (NASDAQ:ALVR), the world’s leading provider of 4G networks in the Broadband Wireless Access (BWA) market, is returning to 4G World 2011, October 24 – 27, at McCormick Place, Chicago, to unveil its latest 4G wireless broadband solutions, as well as present executive perspectives during keynotes and panel sessions. Alvarion’s presence at the show is titled “Going the Extra Mile” to reflect the company’s commitment to meeting its customers’ current and future needs.

Alvarion will feature a keynote presentation on October 26th and Power Breakfast on October 25th. Alvarion’s Vice President, Innovation and Marketing, Dr. Mo Shakouri will also be speaking at the WCAI Spectrum Summit about “Spectrum for Smart Grid and Government Networks”. Alvarion executives will be hosting meetings at executive meeting room number 2807. In the executive meeting room, Alvarion will also be presenting a few of its recent portfolio enhancements, including the new BreezeCELL® TrueActive™ DAS solution for in-building capacity, the new BreezeCOMPACT micro base station, WALKair 5000 and the BreezeMAX® Extreme 1.8.

“The keystone of our business has always been our commitment to meeting our customers’ network needs and we continue to grow and advance our offering in line with this principle,” said Eran Gorev, Alvarion’s President and CEO. “We offer a flexible, powerful line-up of wireless broadband solutions that are designed to support the growth of our customers in a variety of carrier and vertical markets. We are excited about the 4G World show in Chicago and looking forward to another invaluable industry encounter.”

Show activities featuring Alvarion executives and customers include:

Keynote/Featured Session: The Promise of Wireless Broadband Connectivity – From Smart City To Education To National Broadband – Wednesday, October 26 at 09:40 a.m. CT in South Building Grand Ballroom; Speaker: Eran Gorev, Alvarion’s President and CEO, and Alvarion customers: Brian Anderson, Senior Consultant and Program Director, City of Houston Wireless Broadband Initiative; Margarita Solís, Director of IJALTI (Technology Institution of Jalisco, Mexico) and Jeff Burlock, Senior Vice President Strategic Technology, Xplornet Communications Inc.

  • WCAI Spectrum Summit: Spectrum for Smart Grid and Government Networks Monday, October 24 at 03:00 p.m. CT in room S-404D; Speaker: Dr. Mo Shakouri, Corporate Vice President, Innovation and Marketing, Alvarion
  • Alvarion Power Breakfast: Wireless Capacity and Coverage in the 4G Era Tuesday, Oct. 25 at 8:00 a.m. CT in South Building Grand Ballroom; presented by Alvarion Senior Director Marketing, Gil Shacham; Additional speakers: Mo Shakouri of Alvarion and Haig Sarkissian, Consultant at Wireless 20/20
  • Solutions Theater: Upgrading 3G Indoor Solutions to Meet 4G Capacity Requirements Tuesday, Oct. 25 at 1:00 p.m. CT in the Solutions Theater on the Expo floor; Speaker: Alvarion Senior Director Marketing and BD, Gil Shacham
  • Conference Track: 4G Applications: WiMAX and LTE Coexistence and Convergence; Opportunities for Network Operators Wednesday, Oct. 26 at 3:30 p.m. CT in room S-404abc; Speaker: Shaul Ben Nun, General Manager, Alvarion Carrier Global Business Unit with Jeff Burlock, Senior Vice President Strategic Technology, Xplornet Communications Inc.
  • Panel: Beyond the Macro: In-Building DAS Considerations for 4G Thursday, Oct. 27 at 1:30 p.m. CT in room S-401; Speaker: Ron Agam, General Manager of the Wireless Capacity and Coverage Business Unit, Alvarion

If you are interested in meeting with Alvarion at the show, please contact John Conrad at conrad@merrittgrp.com or follow us on Twitter at www.twitter.com/Alvarion4G.

About Alvarion

Alvarion (NASDAQ:ALVR) is a global 4G communications leader with the industry’s most extensive customer base, including hundreds of commercial 4G deployments. Alvarion’s industry leading network solutions for broadband wireless technologies WiMAX, TD-LTE and WiFi, enable broadband applications for service providers and enterprises covering a variety of industries such as mobile broadband, residential and business broadband, utilities, municipalities and public safety agencies. Through an open network strategy, superior IP and OFDMA know-how, and ability to deploy large scale end-to-end turnkey networks, Alvarion is delivering the true 4G broadband experience today (www.alvarion.com)

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Alvarion’s management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: potential impact on our business of the current global recession, the inability of our customers to obtain credit to purchase our products as a result of global credit market conditions, the failure to fund projects under the U.S. broadband stimulus program, continued delays in 4G license allocation in certain countries; the failure of the products for the 4G market to develop as anticipated;, Alvarion’s inability to capture market share in the expected growth of the 4G market as anticipated, due to, among other things, competitive reasons or failure to execute in our sales, marketing or manufacturing objectives; the failure of the Alvarion’s strategic initiatives to enable Alvarion to more effectively capitalize on market opportunities as anticipated; inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; as well as the inability to establish and maintain relationships with commerce, advertising, marketing, and technology providers and other risks detailed from time to time in the Company’s 20-F Annual Report Risk Factors section as well as in other filings with the Securities and Exchange Commission.

Information set forth in this press release pertaining to third parties has not been independently verified by Alvarion and is based solely on publicly available information or on information provided to Alvarion by such third parties for inclusion in this press release. The web sites appearing in this press release are not and will not be included or incorporated by reference in any filing made by Alvarion with the Securities and Exchange Commission, which this press release will be a part of.

You may request Alvarion’s future press releases by contacting Sivan Fafuri, Sivan.farfuri@alvarion.com or +972.3.767.4159. For more information visit the Investor section of the Alvarion website at http://www.alvarion.com/index.php/en/investors

Alvarion®, its logo and certain names, product and service names referenced herein are either registered trademarks, trademarks, trade names or service marks of Alvarion Ltd. in certain jurisdictions. All other names are or may be the trademarks of their respective owners. “WiMAX Forum” is a registered trademark of the WiMAX Forum. “WiMAX,” the WiMAX Forum logo, “WiMAX Forum Certified” and the WiMAX Forum Certified logo are trademarks of the WiMAX Forum.

Tuesday, October 25th, 2011 Uncategorized Comments Off on Alvarion (ALVR) Highlights Growing Portfolio of Wireless Broadband Solutions at 4G World

LightPath Technologies (LPTH) Announces Preliminary First Quarter Fiscal 2012 Results

ORLANDO, FL — (Marketwire) — 10/25/11 — LightPath Technologies, Inc. (NASDAQ: LPTH) (the “Company,” “LightPath” or “we”), a global manufacturer, distributor and integrator of patented optical components and assemblies, announced today its preliminary financial results for the first quarter ended September 30, 2011.

The Company reported preliminary revenue of $2.73 million for the first quarter of fiscal 2012, an increase of 21%, as compared to $2.25 million for the same period last year.

Cash on hand as of September 30, 2011 was $0.69 million as compared to $0.93 million on June 30, 2011. Backlog scheduled to ship within the next 12 months was $4.20 million as of September 30, 2011, an increase of $1.02 million as compared to backlog on September 30, 2010 and a $330,000 increase as compared to June 30, 2011.

Jim Gaynor, President and CEO of LightPath, stated, “Economic conditions affecting some of the markets we serve had an effect on our quarterly revenue. In particular, such conditions have affected the telecom market and caused our telecom customers to delay new orders. Also, the Chinese government has continued its tight monetary policy in an effort to slow expansion of the economy and reduce inflation. As a result, construction in China has slowed which negatively impacted our industrial tool market in China. These issues resulted in a reduction of anticipated quarterly revenue from our telecom and industrial tools customers. By taking advantage of our diversified markets and customer base, we were able to offset this revenue loss with increases in revenues from our defense and industrial customers particularly with our collimator and custom optics lines. The first quarter of fiscal 2012 was our third consecutive quarter of bookings greater than $3 million and also the third consecutive quarter of bookings higher than the previous quarter.”

Mr. Gaynor continued, “We continue to focus on increasing our revenue. This past quarter, we achieved our highest first fiscal quarter revenue level since 2007. As we look forward, we believe we have positioned the Company for continued growth and are excited by the opportunities available to us.”

LightPath will host a conference call to discuss the Company’s financial and operational results for the first quarter ended September 30, 2011. Details of the call are as follows:

Date: Thursday, November 10, 2011
Time: 4:00 PM (ET)
Dial-in Number: 1-877-407-8033
International Dial-in Number: 1-201-689-8033
Webcast available at Precision IR: www.precisionir.com

Participants are recommended to dial-in approximately 5 to 10 minutes prior to the start of the call. A replay of the call will be available approximately three hours after completion through, 2011. To listen to the replay, dial 1-877-660-6853 (within the U.S.) and 1-201-612-7415 (international calls), and enter account # 286 and conference ID # 381927.

About LightPath Technologies

LightPath manufactures optical products including precision molded aspheric optics, GRADIUM® glass products, proprietary collimator assemblies, laser components utilizing proprietary automation technology, higher-level assemblies and packing solutions. The Company’s products are used in various markets, including industrial, medical, defense, test & measurement and telecommunications. LightPath has a strong patent portfolio that has been granted or licensed to us in these fields. For more information, visit www.lightpath.com.

This news release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, the Company does not have any intention or obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise.

GRADIUM® is a registered trademark of LightPath Technologies.

Contact:
Dorothy Cipolla
CFO
LightPath Technologies, Inc.
Tel: 407-382-4003 x305
Email: dcipolla@lightpath.com
Web: www.lightpath.com

Tuesday, October 25th, 2011 Uncategorized Comments Off on LightPath Technologies (LPTH) Announces Preliminary First Quarter Fiscal 2012 Results

Hudson Technologies (HDSN) Reports Record Revenues for Third Quarter and First Nine Months

Hudson Technologies, Inc. (NASDAQ: HDSN), announced results for the third quarter and nine months ended September 30, 2011.

Revenues for the three months ended September 30, 2011 increased 49% to $11,935,000 from $7,996,000 in the comparable 2010 period. Hudson reported gross profit margins of 12% for the third quarter of 2011 compared to 23% in the third quarter last year. The Company also reported a net loss of $113,000, or $0.00 per basic and diluted share for the third quarter of 2011, compared to net income of $200,000, or $0.01 per basic and diluted share, for the third quarter of 2010.

For the nine months ended September 30, 2011, revenues increased 22% to $40,465,000 as compared to revenues of $33,133,000 in the first nine months of 2010. Gross profit margin in the first nine months of 2011 was 19% compared to 20% in the first nine months of 2010. The Company reported net income of $1,756,000, or $0.07 per basic and diluted share in the first nine months of 2011 compared to net income of $1,257,000 or $0.06 per basic share and $0.05 per diluted share in the first nine months of 2010. Income tax expense of $1,077,000 and $628,000 for the 2011 and 2010 periods, respectively, is largely a non-cash item as a result of the Company’s deferred tax asset.

Kevin J. Zugibe, Chairman and Chief Executive Officer of Hudson Technologies commented, “Our third quarter results demonstrate that we continue to grow our business and expand our customer base. We achieved record revenues in the third quarter, significantly surpassing our revenues for the third quarter in 2010. Furthermore, our nine months revenues surpass our record 2010 full year revenues. Despite an industry-wide decline in the price of R-22 refrigerant (“R-22”) which impacted our margins, we achieved strong revenue growth due to increases in the total volumes of product sold and in services performed in the third quarter. While our pricing expectations for R-22 did not materialize, the expansion of our business and customer base should serve us well when market conditions stabilize.

“Our revenue growth during the quarter was also achieved without a material increase in reclamation. Despite the EPA’s efforts, through the phase down and ultimate phase out of R-22, to reduce the supply of virgin R-22, there is clearly an oversupply, which we believe is a primary cause for the reduced pricing in the industry. Consequently, we have yet to see the price increases in R-22 that were anticipated during the phase down period, and as a result, the industry has experienced an approximate 20% decline in the volumes of R-22 reclaimed when compared to 2008 levels. The EPA is currently evaluating the existing phase down schedule for the production and import of R-22 and has solicited stakeholder comments on whether it should revise the phase down levels for the 2012, 2013 and 2014 years. Without exception, every stakeholder that has publicly commented on the current R-22 phase down levels has indicated that it is their belief that the levels for R-22 production and importation are too high and should be reduced. It is our expectation that the EPA will issue new regulations to establish R-22 production and import levels for the 2012 year in the near future. While we cannot control the market dynamics around refrigerant pricing, we remain focused on expanding our customer base and enhancing our relationships with the goal of continuing to deliver sustainable revenue growth despite pricing volatility.

“The establishment of our joint venture, Hudson Technologies Europe S.r.l., for the development of reclamation, remediation and energy optimization services throughout most of Europe, the Middle East and North Africa continues to progress. We believe that this joint venture positions us well to capitalize on servicing and efficiency opportunities created by the regulatory environment and high energy prices in Europe and in emerging markets where the use of refrigeration and cooling systems is increasing.

“As the market landscape for our industry continues to evolve, we recognize the importance of ensuring that our broad product and service offerings provide the right solution in the right place at the right time. As we focus our efforts to execute on this strategy, we believe we can drive sustainable revenue and earnings growth.”

CONFERENCE CALL INFORMATION

The Company will host a conference call to discuss the third quarter results today, October 25, 2011 at 10:00 A.M. Eastern Time.

To access the live webcast log onto the Hudson Technologies website at www.hudsontech.com and click on “Investor Relations”.

To participate in the call by phone, dial (877) 407-9205 approximately five minutes prior to the scheduled start time. International callers please dial (201) 689-8054.

A replay of the webcast will be available until November 1, 2011 and may be accessed by dialing (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use account number 286 and pass code 381557.

About Hudson Technologies

Hudson Technologies, Inc. is a leading provider of innovative solutions to recurring problems within the refrigeration industry. Hudson’s proprietary RefrigerantSide® Services increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. Performed at a customer’s site as an integral part of an effective scheduled maintenance program or in response to emergencies, RefrigerantSide® Services offer significant savings to customers due to their ability to be completed rapidly and at higher purity levels, and can be utilized while the customer’s system continues to operate. In addition, the Company sells refrigerants and provides traditional reclamation services to the commercial and industrial air conditioning and refrigeration markets. For further information on Hudson, please visit the Company’s web site at www.hudsontech.com.

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

Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the markets for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of, refrigerants), the Company’s ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements which become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing, risks associated with the Company’s joint venture which include the ability of the parties to perform their obligations under the joint venture agreement, any delays or interruptions in bringing products and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies, and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which the joint venture may seek to conduct business, and other risks detailed in the Company’s periodic reports filed with the Securities and Exchange Commission. The words “believe”, “expect”, “anticipate”, “may”, “plan”, “should” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

Hudson Technologies, Inc. and subsidiaries
Consolidated Balance Sheets
(Amounts in thousands, except for share and par value amounts)
September 30, December 31,
2011 2010
(unaudited)
Assets
Current assets:
Cash and cash equivalents $ 5,189 $ 3,926
Trade accounts receivable – net of allowance for doubtful
accounts of $290 and $220 4,617 1,767
Inventories 10,008 18,211
Prepaid expenses and other current assets 1,781 376
Total current assets 21,595 24,280
Property, plant and equipment, less accumulated depreciation and amortization 3,043 3,008
Other assets 79 66
Deferred tax assets – net 2,640 3,669
Intangible assets, less accumulated amortization 79 73
Total Assets $ 27,436 $ 31,096
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses $ 3,332 $ 6,350
Accrued payroll 378 693
Short-term debt and current maturities of long-term debt 3,821 5,012
Total current liabilities 7,531 12,055
Long-term debt, less current maturities 150 1,018
Total Liabilities 7,681 13,073
Commitments and contingencies
Stockholders’ equity:
Preferred stock shares authorized 5,000,000
Series A Convertible Preferred stock, $0.01 par value ($100
liquidation preference value); shares authorized 150,000 ; none issued or outstanding
Common stock, $0.01 par value; shares authorized 50,000,000;
23,780,606 issued and outstanding 238 238
Additional paid-in capital 42,863 42,887
Accumulated deficit (23,346 ) (25,102 )
Total Stockholders’ Equity 19,755 18,023
Total Liabilities and Stockholders’ Equity $ 27,436 $ 31,096
Hudson Technologies, Inc. and subsidiaries
Consolidated Income Statements
(unaudited)
(Amounts in thousands, except for share and per share amounts)
Three month period Nine month period
ended September 30, ended September 30,
2011 2010 2011 2010
Revenues $ 11,935 $ 7,996 $ 40,465 $ 33,133
Cost of sales 10,465 6,192 32,586 26,455
Gross Profit 1,470 1,804 7,879 6,678
Operating expenses:
Selling and marketing 563 541 1,660 1,545
General and administrative 900 865 2,693 2,457
Total operating expenses 1,463 1,406 4,353 4,002
Operating income 7 398 3,526 2,676
Other income (expense):
Interest expense (190 ) (224 ) (707 ) (797 )
Interest income 2 6 14 6
Total other income (expense) (188 ) (218 ) (693 ) (791 )
Income (loss) before income taxes (181 ) 180 2,833 1,885
Income tax expense (benefit) (68 ) (20 ) 1,077 628
Net income (loss) ($113 ) $ 200 $ 1,756 $ 1,257
Net income (loss) per common share – Basic ($0.00 ) $ 0.01 $ 0.07 $ 0.06
Net income (loss) per common share – Diluted ($0.00 ) $ 0.01 $ 0.07 $ 0.05
Weighted average number of shares
outstanding – Basic 23,780,606 23,780,606 23,780,606 21,904,828
Weighted average number of shares
outstanding – Diluted 23,780,606 25,228,525 24,921,835 23,363,760
Tuesday, October 25th, 2011 Uncategorized Comments Off on Hudson Technologies (HDSN) Reports Record Revenues for Third Quarter and First Nine Months

RFM (RFMI) Named to 2012 CW 100 For Fifth Consecutive Year

RF Monolithics, Inc. (“RFM”) (NASDAQ: RFMI) was named by Connected World magazine (formerly M2M Magazine) to the 2012 CW 100, its annual listing of top companies that demonstrate significant market traction and pursuit of game-changing technologies in machine-to-machine (M2M) connectivity. The list provides a guide to the companies making a difference in M2M, as chosen by the editors of Connected World magazine.

“To be recognized for a fifth consecutive year by the editors of Connected World testifies to RFM’s ability to visualize and then bring to the marketplace a broad spectrum of new and innovative M2M solutions across a wide range of industries,” said Farlin A. Halsey, CEO and president of RFM. “However, this five year milestone has been no small feat considering the economic climate during this time, the ever-changing landscape in wireless standards, and the natural disasters in the Asian regions. While proud of our accomplishments, we are also humbly grateful for our increased opportunities in this evolving market.”

Five years ago, RFM began adding module products targeting WSN and M2M applications to their existing low power ZigBee and 802.15.4 products. During the 5 year period, RFM has introduced a number of module products specifically aimed at M2M applications including low-power Wi-Fi, WirelessHART, as well as low-power proprietary FHSS modules that have enabled OEMs to simply and cost-effectively add M2M capabilities to their products.

More recently, RFM has announced a series of ready-to-use battery-powered sensor modems and gateways to allow systems integrators and application developers to wirelessly collect sensor data and send it to the Cloud. These products have enabled a variety of M2M applications that were previously economically unfeasible due to the expense of reading and collecting the sensor data. Applications have included freezer monitoring, well-head monitoring, trailer monitoring, as well as industrial automation monitoring.

As standards-based wireless technologies began to emerge as key drivers of M2M OEM products, this year RFM introduced two new standards-based products. In April 2011, RFM introduced the Wi-Fi and Wi-Fi + Bluetooth Combo Modules that feature Bluetooth Low-Energy 4.0 (BLE) for battery-powered applications. As a newly approved Bluetooth standard during 2011, the new Bluetooth BLE feature greatly expands the range of battery-powered applications that are now suitable for Bluetooth communications M2M space.

Then in May 2011, RFM introduced a ZigBee Pro pre-certified module that features the ZigBee Smart Energy and Home Automation Profiles. This new module boasts a 20-50% smaller footprint than competing modules and includes a 1MB flash memory for data logging without adding to the footprint. Smart energy and smart homes are rapidly growing M2M applications and the ZigBee Pro standard is in part driving that growth. The ZigBee Pro standard provides end-to-end vendor interoperability through the Smart Energy and Home Automation operation.

Companies appearing on the CW 100 are chosen from a selection of hundreds of firms, both private and publicly traded. The criteria for the listing include: sales and earnings growth, contribution to the M2M space, and innovation in multiple markets served during the past 12 months.

About RFM

RFM, headquartered in Dallas, Texas, is a provider of solutions-driven, technology-enabled wireless connectivity for a broad range of wireless applications – from individual standard and custom components to modules for comprehensive industrial wireless sensor networks and machine-to-machine (M2M) technology. For more information on RFM, please visit the Company’s website at www.RFM.com.

Forward-Looking Statements

This news release contains forward-looking statements, made pursuant to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Statements of the plans, objectives, expectations and intentions of RFM and/or its wholly-owned subsidiaries (collectively, the “Company” or “we”) involve risks and uncertainties. Statements containing terms such as “believe”, “expect”, “plan”, “anticipate”, “may” or similar terms are considered to contain uncertainty and are forward-looking statements. Such statements are based on information available to management as of the time of such statements and relate to, among other things, expectations of the business environment in which we operate, projections of future performance, perceived opportunities in the market and statements regarding our mission and vision. Such statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, including risks related to economic conditions as related to our customer base, collection of receivables from customers who may be affected by economic conditions, maintaining favorable terms of sales, the highly competitive market in which we operate, rapid changes in technologies that may displace products sold by us, declining prices of products, our reliance on distributors, delays in product development efforts, uncertainty in consumer acceptance of our products, changes in our level of sales or profitability, manufacturing and sourcing risks, availability of materials, cost of components for our products, product defects and returns, as well as the other risks detailed from time to time in our SEC reports, including the report on Form 10-K for the year ended August 31, 2010. We do not assume any obligation to update any information contained in this release.

Tuesday, October 25th, 2011 Uncategorized Comments Off on RFM (RFMI) Named to 2012 CW 100 For Fifth Consecutive Year

LCA-Vision (LCAV) Third Quarter Results Feature 7.5% Growth in Revenues

CINCINNATI, Oct. 25, 2011 /PRNewswire/ — LCA-Vision Inc. (NASDAQ: LCAV), a leading provider of laser vision correction services under the LasikPlus® brand, today announced financial and operating results for the three and nine months ended September 30, 2011.

Third Quarter 2011 Financial and Operating Highlights (all comparisons are with the third quarter of 2010)

  • Revenues increased 7.5% to $21.8 million compared with $20.3 million; adjusted revenues increased 10.5% to $20.8 million compared with $18.8 million.
  • Procedure volume was 12,444, compared with 11,497 procedures (60 vision centers) and 10,569 same-store procedures (53 vision centers), marking the fourth consecutive quarter of year-over-year growth in same-store procedures.
  • Same-store revenues increased 15.6%; adjusted same-store revenues increased 19.5%.
  • Operating loss decreased to $4.1 million from $8.5 million; adjusted operating loss decreased to $5.0 million from $9.8 million. The improvement in operating loss and adjusted operating loss reflects increased procedure volume and revenue, the closing of under-performing vision centers, and lower depreciation expense from assets that are now fully depreciated. The 2010 quarter included $1.8 million in impairment and restructuring charges. Marketing cost per eye was $426 compared with $444.
  • Net loss was $3.8 million, or $0.20 per share, compared with net loss of $8.4 million, or $0.45 per share.

Year-to-Date 2011 Financial and Operating Highlights (all comparisons are with the same period of 2010)

  • Revenues were $78.5 million compared with $80.6 million; adjusted revenues were $75.1 million compared with $75.8 million.
  • Procedure volume was 45,382, compared with 45,829 procedures and 41,920 same-store procedures.
  • Same-store revenues increased 5.4%; adjusted same-store revenues increased 7.7%.
  • Operating loss decreased to $4.9 million from $14.6 million; adjusted operating loss decreased to $8.0 million from $18.9 million. The improvement in operating loss and adjusted operating loss reflects increased same-store procedure volume, the closing of under-performing vision centers, lower marketing and advertising expense and lower depreciation expense. The year-to-date results of 2011 included $498,000 of gain on sales of assets from closed visions centers and $56,000 in impairment and restructuring charges. The year-to-date results of 2010 included $1.6 million of gain on sale of assets and $2.5 million in impairment and restructuring charges. Marketing cost per eye decreased to $391 from $421.
  • Net loss was $4.5 million, or $0.24 per share, compared with net loss of $13.3 million, or $0.71 per share.
  • Net cash used in operations was $2.4 million compared with net cash provided by operations of $4.6 million. The net cash provided by operations for 2010 included an $11.8 million tax refund. We are now in a net operating loss carryforward position and did not receive a tax refund in 2011.
  • Cash and investments totaled $47.1 million as of September 30, 2011, compared with $52.2 million as of December 31, 2010.

Adjusted revenues and operating losses are provided as a means of measuring performance that adjusts for the non-cash impact of accounting for separately priced extended warranties. A reconciliation of revenues and operating losses as reported in accordance with U.S. Generally Accepted Accounting Principles (GAAP) is provided at the end of this news release. Management believes the adjusted information better reflects operating performance and, therefore, is more meaningful to investors.

“We are reporting significant improvements in financial and operating results, although we recognize that further improvement is needed,” said LCA-Vision Chief Financial Officer Michael J. Celebrezze. “Revenue growth reflects our first year-over-year increase in total procedure volume in four years, as well as a higher average price per procedure. The 18% increase in same-store procedure volume was significantly higher than the single-digit year-over-year increases in the past three quarters. We accomplished these results despite continued low consumer confidence levels and cautious discretionary spending by consumers. Further, our actions to control expenses resulted in a substantial reduction in our operating loss.”

Adjusted price per procedure for the third quarter of 2011 increased to $1,668, up $15 from the second quarter of 2011 and $34 from the third quarter of 2010. Marketing expense for the third quarter of 2011 was $5.3 million, bringing marketing spend per procedure to $426, up $5 from the second quarter of 2011 and down $18 from the third quarter of 2010 when the company launched its new marketing campaign.

LCA-Vision Chief Operating Officer David L. Thomas said, “Our marketing programs drove considerably more scheduled and attended pre-operative appointments compared with the prior year. Conversion and treatment show rates declined for a second consecutive quarter as we attracted many prospective patients earlier in their decision-making process; however, we are executing new training activities to improve these metrics and better educate prospective patients about the procedure.

“We face a more difficult prior-year comparison in the fourth quarter. We began this year’s fourth quarter by offering the same $500 discount promotion as last year to maximize procedure volume prior to the seasonally strong first quarter, in which we have historically benefitted from flex spending. Even with the price discount, we expect that price per procedure for the fourth quarter will be in the $1,630 to $1,650 range.

“Over the past six weeks, we have begun offering cataract surgery in two markets under our new Visium Eye Institute™ cataract brand, although we have yet to treat any cataract patients. This offering marks a major step in our business diversification programs to support future growth and profitability, and lessen our exposure to economic downturns,” added Thomas. “We now accept Medicare in these two markets and have taken a number of preparatory steps, including training staff, developing marketing materials, incorporating electronic medical record capabilities and launching a website. We are employing a multi-pronged marketing campaign for this offering that includes print advertising, direct contact with past patients and community outreach.”

Near-term Financial Outlook

LCA-Vision intends to manage expenses conservatively in 2011. The company’s plans and outlook for the remainder of the year include:

  • The company does not plan to open any new vision centers in the near term. LCA-Vision will consider restarting its de novo vision center opening program when market conditions improve.
  • The company expects marketing and advertising spend for the 2011 fourth quarter to be between $5.0 million and $5.5 million.
  • The company expects capital expenditures in 2011 to be between $1.2 million and $1.5 million for vision center renovations, relocations and equipment replacement.
  • The company does not expect to receive a tax refund in 2011.

The company affirms that the number of procedures companywide required for breakeven cash flow, after capital expenditures and debt service, is approximately 70,000 per year. The average number of procedures required for each vision center to reach breakeven remains at 95 per month.

Conference Call and Webcast

As previously announced, a conference call and webcast will be held today beginning at 10:00 a.m. Eastern Time. To access the conference call, dial 866-322-1352 (U.S. and Canada) or 706-643-6246 (international callers). The webcast will also be available in the investor relations section of LCA-Vision’s website. A replay of the call and webcast will begin approximately two hours after the live call has ended. To access the replay, dial 855-859-2056 (U.S. and Canada) or 404-537-3406 (international callers) and enter the conference ID number: 99896255

Forward-Looking Statements

This news release contains forward-looking statements based on current expectations, forecasts and assumptions of LCA-Vision that are subject to risks and uncertainties. The forward-looking statements in this release are based on information available to the company as of the date hereof. Actual results could differ materially from those stated or implied in the forward-looking statements due to risks and uncertainties associated with its business. In addition to the risk factors discussed in the company’s Form 10-K and other filings with the Securities and Exchange Commission, there are a number of other risks and uncertainties associated with its business including, without limitation, the successful execution of cost effective marketing strategies to drive patients to its vision centers; the impact of low consumer confidence and discretionary spending; competition in the laser vision correction industry; the company’s ability to attract patients; the possibility of adverse outcomes or long-term side effects of laser vision correction and negative publicity regarding laser vision correction; the company’s ability to operate profitable vision centers and retain qualified personnel during periods of lower procedure volumes; the continued availability of non-recourse third-party financing for its patients on terms similar to what it has paid historically; and the future value of revenues financed by the company and its ability to collect on such financings, which will in turn depend on a number of factors, including the consumer credit environment and the company’s ability to manage credit risk related to consumer debt, bankruptcies and other credit trends.

Further, the Food and Drug Administration’s (FDA) advisory board on ophthalmic devices currently is reviewing concerns about post-LASIK quality of life matters, and the FDA has undertaken a study on LASIK outcomes and quality of life that is expected to end in 2012. The FDA or another regulatory body could take legal or regulatory action against the company or others in the laser vision correction industry. The outcome of this review or legal or regulatory action could potentially impact negatively the acceptance of LASIK. In addition, the acceptance rate of new technologies and our ability to implement successfully new technologies on a national basis create additional risk.

Except to the extent required under the federal securities laws and the rules and regulations promulgated by the Securities and Exchange Commission, the company assumes no obligation to update the information included in this news release, whether as a result of new information, future events or circumstances, or otherwise.

About LCA-Vision Inc./LasikPlus®

LCA-Vision Inc., a leading provider of laser vision correction services under the LasikPlus® brand, operates 53 LasikPlus® fixed-site laser vision centers in 26 states and 41 markets in the United States. Additional company information is available at www.lca-vision.com and www.lasikplus.com.

Earning Trust Every Moment; Transforming Lives Every Day.

For Additional Information

Company Contact:

Investor Relations Contact:

Barb Kise

Jody Cain

LCA-Vision Inc.

LHA

513-792-9292

310-691-7100

LCA-Vision Inc.

Condensed Consolidated Balance Sheets (Unaudited)

(Dollars in thousands)

September 30,

2011

December 31,

2010

Assets

Current assets

Cash and cash equivalents

$ 19,545

$ 19,350

Short-term investments

26,616

31,947

Patient receivables, net of allowances of $1,124 and $1,392, respectively

2,209

2,256

Other accounts receivable, net

1,385

1,867

Prepaid expenses and other

4,196

5,641

Total current assets

53,951

61,061

Property and equipment

72,235

72,286

Accumulated depreciation and amortization

(60,754)

(57,322)

Property and equipment, net

11,481

14,964

Long-term investments

933

951

Patient receivables, net of allowances of $595 and $330 respectively

725

413

Other assets

2,036

3,092

Total assets

$ 69,126

$ 80,481

Liabilities and Stockholders’ Investment

Current liabilities

Accounts payable

$ 6,799

$ 8,110

Accrued liabilities and other

13,947

12,266

Deferred revenue

2,981

4,376

Debt obligations maturing within one year

2,937

3,039

Total current liabilities

26,664

27,791

Long-term rent obligations and other

2,685

3,368

Long-term debt obligations, less current portion

1,784

4,245

Insurance reserves

7,183

7,406

Deferred license fee

2,044

3,065

Deferred revenue

1,433

3,476

Stockholders’ investment

Common stock ($.001 par value; 25,291,637 shares issued and

18,849,527 and 18,711,365 shares outstanding, respectively)

25

25

Contributed capital

176,869

175,610

Common stock in treasury, at cost (6,442,110 shares and 6,580,272 shares, respectively)

(112,974)

(114,033)

Retained deficit

(37,003)

(31,134)

Accumulated other comprehensive income

416

662

Total stockholders’ investment

27,333

31,130

Total liabilities and stockholders’ investment

$ 69,126

$ 80,481

LCA-Vision Inc.

Condensed Consolidated Statements of Operations (Unaudited)

(Amounts in thousands except per share data)

Three months ended September 30,

Nine months ended September 30,

2011

2010

2011

2010

Revenues

$ 21,790

$ 20,263

$ 78,489

$ 80,566

Operating costs and expenses

Medical professional and license fees

5,181

4,966

19,236

19,406

Direct costs of services

10,461

11,499

31,931

37,390

General and administrative expenses

3,586

3,336

10,577

10,768

Marketing and advertising

5,305

5,100

17,730

19,298

Depreciation

1,458

2,379

4,346

7,375

Impairment charges

1,608

1,694

Restructuring charges

145

56

794

25,991

29,033

83,876

96,725

Gain on sale of assets

99

266

498

1,577

Operating loss

(4,102)

(8,504)

(4,889)

(14,582)

Net investment income and other

334

103

492

1,424

Loss before taxes on income

(3,768)

(8,401)

(4,397)

(13,158)

Income tax expense

32

39

149

134

Net loss

$ (3,800)

$ (8,440)

$ (4,546)

$ (13,292)

Loss per common share

Basic

$ (0.20)

$ (0.45)

$ (0.24)

$ (0.71)

Diluted

$ (0.20)

$ (0.45)

$ (0.24)

$ (0.71)

Weighted average shares outstanding

Basic

18,838

18,703

18,798

18,672

Diluted

18,838

18,703

18,798

18,672

LCA-Vision Inc.

Condensed Consolidated Statements of Cash Flows (Unaudited)

(Dollars in thousands)

Nine months ended September 30,

2011

2010

Cash flow from operating activities:

Net loss

$ (4,546)

$ (13,292)

Adjustments to reconcile net loss to net cash provided by operating activities:

Depreciation

4,346

7,375

Provision for loss on doubtful accounts

554

1,333

Loss (gain) on sale of investments

9

(1,008)

Impairment charges

1,694

Gain on sale of property and equipment

(498)

(1,577)

Deferred income taxes

377

Stock-based compensation

1,259

957

Insurance reserve

(223)

(796)

Changes in operating assets and liabilities:

Patient accounts receivable

(754)

1,311

Other accounts receivable

138

237

Prepaid income taxes

397

11,651

Prepaid expenses and other

499

1,385

Accounts payable

(1,311)

543

Deferred revenue, net of professional fees

(3,094)

(4,293)

Accrued liabilities and other

777

(1,284)

Net cash (used in) provided by operations

(2,447)

4,613

Cash flow from investing activities:

Purchases of property and equipment

(869)

(176)

Proceeds from sale of assets

1,252

1,721

Purchases of investment securities

(137,480)

(328,120)

Proceeds from sale of investment securities

142,716

325,133

Other

(6)

(34)

Net cash provided by (used in) investing activities

5,613

(1,476)

Cash flow from financing activities:

Principal payments of capital lease obligations and loan

(2,563)

(4,089)

Shares repurchased for treasury stock

(288)

(192)

Proceeds from exercise of stock options

23

14

Net cash used in financing activities

(2,828)

(4,267)

Net effect of exchange rate changes on cash and cash equivalents

(143)

82

Increase (decrease) in cash and cash equivalents

195

(1,048)

Cash and cash equivalents at beginning of period

19,350

24,529

Cash and cash equivalents at end of period

$ 19,545

$ 23,481

LCA-Vision Inc.

Effect of the Change in Accounting for Deferred Revenues on Financial Results

(Dollars in thousands)

(Unaudited)

To supplement its Condensed Consolidated Financial Statements presented in accordance with accounting principles generally accepted in the United States, LCA-Vision discusses adjusted revenues and operating loss. Management utilizes this information as a means of measuring performance that adjusts for the non-cash impact of the accounting for separately priced extended warranties and believes that including this additional disclosure is meaningful to investors for the same reason.

Accordingly, this news release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. A reconciliation of the difference between the non-GAAP measures with the most directly comparable financial measures calculated in accordance with GAAP follows:

Three Months Ended September 30,

Nine Months Ended September 30,

2011

2010

2011

2010

Revenues

Reported U.S. GAAP

$ 21,790

$ 20,263

$ 78,489

$ 80,566

Adjustments

Amortization of prior deferred revenue

(1,031)

(1,475)

(3,437)

(4,770)

Adjusted revenues

$ 20,759

$ 18,788

$ 75,052

$ 75,796

Operating Loss

Reported U.S. GAAP

$ (4,102)

$ (8,504)

$ (4,889)

$ (14,582)

Adjustments

Amortization of prior deferred revenue

(1,031)

(1,475)

(3,437)

(4,770)

Amortization of prior professional fees

103

148

344

477

Adjusted operating loss

$ (5,030)

$ (9,831)

$ (7,982)

$ (18,875)

SOURCE LCA-Vision Inc.

Tuesday, October 25th, 2011 Uncategorized Comments Off on LCA-Vision (LCAV) Third Quarter Results Feature 7.5% Growth in Revenues

VistaGen Therapeutics (VSTA) Reports Identification of Cell Surface Marker That Permits High-Yield Purification

SOUTH SAN FRANCISCO, CA — (Marketwire) — 10/25/11 — VistaGen Therapeutics, Inc. (OTCBB: VSTA), a biotechnology company applying stem cell technology for drug rescue and cell therapy, announces the publication of original research funded by the Company that identifies an antibody useful in the identification and purification of cardiac progenitors and cardiomyocytes.

The research, titled Novel Use for SIRPA as a Specific Cell Surface Marker for the Isolation of Human Pluripotent Stem Cell-Derived Cardiomyocytes, stems from research funded in part by VistaGen and conducted by a collaborative team led by Dr. Gordon Keller at the University Health Network’s McEwen Centre for Regenerative Medicine in Toronto. The results of these studies were published in the peer-reviewed journal, Nature Biotechnology, on October 23, 2011.

“The identification and use of the SIRPA antibody permits us to select the very earliest human cardiac progenitors, as well as mature cardiomyocytes, and study the important role of non-cardiomyocytes in the function and maturation of cardiomyocytes,” said Dr. Ralph Snodgrass, President and Chief Scientific Officer of VistaGen. “Using this antibody, we can produce human cardiomyocytes with greater than 95% purity, without genetically modifying the cells and without antibiotic selection, which is a significant step forward for our cardiotoxicity bioassay system, CardioSafe 3D™, and our cell therapy initiatives.”

The Keller team identified human cardiomyocyte specific markers by screening human embryonic stem cell (hESC)-derived cardiovascular populations with known antibodies. From this screen, the signal-regulatory protein alpha (SIRPA) was identified as a marker expressed specifically on hESC and induced pluripotent stem cell (iPSC)-derived cardiomyocytes and their precursors. Cell sorting and selection with the SIRPA antibody allowed for the enrichment of cardiac precursors and cardiomyocytes from hESC/iPSC differentiation cultures, yielding populations of up to 98% cardiac troponin T-positive cells. SIRPA-positive cells, when cultured, express the expected markers, transcription factors and cytoskeletal markers of cardiomyocytes, and can be maintained in culture for extended periods of time. These findings provide, for the first time, a simple method for isolating some of the earliest populations of cardiac precursors and mature cardiomyocytes from human pluripotent stem cell cultures. This readily adaptable technology offers a viable approach for generating large numbers of enriched, non-genetically modified, cardiomyocytes for numerous therapeutic applications.

Through its long-standing collaboration with Dr. Gordon Keller, who is also Chairman of the Company’s Scientific Advisory Board, and a license agreement with the University Health Network, VistaGen has exclusive worldwide rights to intellectual property arising from this research conducted by Dr. Keller’s laboratory. These studies, funded by VistaGen, are part of the Company’s Human Clinical Trials in a Test Tube™ platform, which has proprietary applications in drug screening, cell therapy, and regenerative medicine.

About VistaGen Therapeutics
VistaGen is a biotechnology company applying human pluripotent stem cell technology for drug rescue and cell therapy. Drug rescue involves the combination of human pluripotent stem cell technology with modern medicinal chemistry to generate new chemical variants of once promising small molecule drug candidates that pharmaceutical companies have discontinued during preclinical or early clinical development due to heart or liver toxicity, despite positive efficacy data demonstrating their potential therapeutic and commercial benefits. VistaGen plans to use its pluripotent stem cell technology to generate early indications, or predictions, of how humans will ultimately respond to new drug candidates before they are ever tested in humans.

In parallel with its drug rescue activities, VistaGen is funding early-stage nonclinical studies focused on potential cell therapy applications of its Human Clinical Trials in a Test Tube™ platform.

Additionally, VistaGen will begin a Phase 1b clinical study of AV-101, a small molecule drug candidate for treatment of neuropathic pain, before the end of 2011. This study includes testing AV-101 in healthy volunteers using the intradermal capsaicin model of neuropathic pain. Neuropathic pain, a serious and chronic condition causing pain after an injury or disease of the peripheral or central nervous system, affects approximately 1.8 million people in the U.S. alone. VistaGen plans to initiate Phase 2 clinical studies of AV-101 in the fourth quarter of 2012. VistaGen is also exploring additional opportunities to leverage its current Phase 1 clinical program to enable additional Phase 2 clinical studies of AV-101 for epilepsy, Parkinson’s disease and depression. To date, VistaGen has been awarded over $8.5 million from the U.S. National Institutes of Health (NIH) for development of AV-101.

Visit us at http://www.VistaGen.com, follow us at http://www.twitter.com/VistaGen or view our Facebook page at http://www.facebook.com/VistaGen.

Cautionary Statement Regarding Forward Looking Statements
The statements in this press release that are not historical facts may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to regulatory approvals and the success of VistaGen’s ongoing clinical studies, including the safety and efficacy of its drug candidate, AV-101, the failure of future drug rescue and pilot preclinical cell therapy programs related to VistaGen’s stem cell technology-based Human Clinical Trial in a Test Tube™ platform, its ability to enter into drug rescue collaborations, risks and uncertainties relating to the availability of substantial additional capital to support VistaGen’s research, development and commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to AV-101 and any drug rescue variants identified and developed by VistaGen. These and other risks and uncertainties are identified and described in more detail in VistaGen’s filings with the Securities and Exchange Commission (SEC). These filings are available on the SEC’s website at www.sec.gov. VistaGen undertakes no obligation to publicly update or revise any forward-looking statements.

For More Information:

H. Ralph Snodgrass, Ph.D.
President and Chief Scientific Officer
VistaGen Therapeutics, Inc.
650-244-9990 x222
investor.relations@vistagen.com

Mission Investor Relations
Atlanta, Georgia
http://www.MissionIR.com
404-941-8975
Investors@MissionIR.com

Tuesday, October 25th, 2011 Uncategorized Comments Off on VistaGen Therapeutics (VSTA) Reports Identification of Cell Surface Marker That Permits High-Yield Purification

Major Asian Foundry Selects Mattson Technology (MTSN) Helios XP RTP System as Process of Record

FREMONT, CA — (Marketwire) — 10/19/11 — Mattson Technology, Inc. (NASDAQ: MTSN), a leading supplier of advanced process equipment used to manufacture semiconductors, today announced that it has won acceptance for its Helios® XP rapid thermal processing (RTP) system for process of record from a major Asian foundry. The order follows an extensive evaluation of the system and marks the first sale of the Helios XP to a major foundry. The system is now in volume production for advanced chips.

“As devices scale to smaller geometries and IC production moves to larger die-sizes and more complex intra-dies structures, pattern loading effects can reduce device yields and are becoming a critical challenge for chipmakers to overcome,” said Andreas Toennis, senior vice president and general manager of Mattson Technology’s Thermal Products Group. “The Helios XP’s unique Hotshield and differential energy control, DEC, technology successfully minimizes these pattern-related thermal effects to help provide high yields for our customers’ volume production at sub-4X nanometer nodes.”

“Our strategic investment to expand RTP into the foundry market is paying off as evidenced by this acceptance by the first foundry customer of the Helios XP. Our new RTP positions in the foundry market should enable Mattson Technology to outgrow the overall market,” concluded Toennis.

About Mattson Technology, Inc.
Mattson Technology, Inc. designs, manufactures and markets semiconductor wafer processing equipment used in the fabrication of integrated circuits. We are a leading supplier of plasma and rapid thermal processing equipment to the global semiconductor industry, and operate in three primary product sectors: Dry Strip, Rapid Thermal Processing and Etch. Through manufacturing and design innovation, we have produced technologically advanced systems that provide productive and cost-effective solutions for customers fabricating current- and next-generation semiconductor devices. For more information, please contact Mattson Technology, Inc., 47131 Bayside Parkway, Fremont, CA, 94538. Telephone: (800) MATTSON / (510) 657-5900. Internet: www.mattson.com.

Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations. Forward-looking statements address matters that are subject to a number of risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such forward-looking statements and assumptions. Such risks and uncertainties include, but are not limited to: macroeconomic and geopolitical trends and events; end-user demand for semiconductors; customer demand for semiconductor manufacturing equipment; the timing of significant customer orders for the Company’s products; customer acceptance of delivered products and the Company’s ability to collect amounts due upon shipment and upon acceptance; the Company’s ability to timely manufacture, deliver and support ordered products; the Company’s ability to bring new products to market and to gain market share with such products; customer rate of adoption of new technologies; risks inherent in the development of complex technology; the timing and competitiveness of new product releases by the Company’s competitors; the Company’s ability to align its cost structure with market conditions; and other risks and uncertainties described in the Company’s Forms 10-K, 10-Q and other filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information provided in this news release.

Mattson Technology Contact
Lauren Vu
Mattson Technology, Inc.
tel +1-510-492-6250
fax +1-510-492-5930
lauren.vu@mattson.com

Investor Contact
Laura Guerrant-Oiye
Guerrant Associates
tel +1-808-882-1467
lguerrant@guerrantir.com

Wednesday, October 19th, 2011 Uncategorized Comments Off on Major Asian Foundry Selects Mattson Technology (MTSN) Helios XP RTP System as Process of Record

T3 (TTTM) Motion Launches New Product Line

COSTA MESA, Calif., Oct. 19, 2011 /PRNewswire/ — www.t3motion.com T3 Motion, Inc. (NYSE AMEX:TTTM) T3 Motion, Inc. today announced the launch of the T3 Non-Lethal Response Vehicle (NLRV), designed specifically to provide law enforcement with humane and safe initiatives used during riots and violent protests. This new product line is designed with proven T3 technologies in mind, featuring the identical acute maneuverability, clean-technology and 24-hour patrol capabilities that T3 Motion products are known for. The T3 NLRV will be unveiled at the International Association of Chiefs of Police conference in Chicago on October 23.

(Photo: http://photos.prnewswire.com/prnh/20111019/LA89315)

The T3 NLRV’s effectiveness for humane crowd control is based on a threefold approach. Semi-automatic, non-lethal launchers will be stowed away and are easily accessed by the officer in the event of a violent outbreak. The launchers will be compatible with various types of non-lethal ammunition including pepper balls, water balls, dye markers or rubber projectiles, none of which would seriously injure rioters. Each vehicle can store up to 10,000 rounds, allowing for long deployments that could not be achieved by an officer on foot. High-intensity LED deterrent strobe lights, specifically designed to deter a disorderly crowd, are incorporated into the vehicle. These deterrent lights provide long-life LED operation with low energy consumption and were designed with Whelen Engineering. The vehicle is equipped with a riot shield to physically protect the officer from crowds.

“T3 Motion continues to provide solutions for the modern day law enforcement agency. The T3 NLRV incorporates the core of T3 technologies, capitalizing on our flagship stand-up platform to expand the T3 Series ESV line,” stated Ki Nam, T3 Motion CEO. “As the number of global riots and protests increase, law enforcement agencies are adjusting tactical responses to humanely and effectively restore the peace and control the crowd. The T3 NLRV offers agencies the tools to swiftly take control of the situation while preserving the safety of citizens and police departments alike.”

The T3 NLRV launch is on the heels of its mobile T3 Automated License Plate Recognition System (ALPR) announced in June of this year. The T3 ALPR automatically scans license plates at a rate up to 7,500 vehicles per hour, notifying the officer of a wanted plate in seconds and providing agencies with real-time knowledge and post-action criminal intelligence.

T3 Motion’s flagship product, the T3 Series Electric Stand-up Vehicle, has been on the market since 2006 and is known worldwide as a cost-effective, clean-technology tactical vehicle. T3 NLRV model utilizes proven T3 technologies known for easy operation, maneuverability and cost-effectiveness, but is specifically designed for larger crowds with stronger response requirements. Currently, T3 ESVs are deployed at over 180 law enforcement agencies in over 30 countries worldwide.

To watch the T3 NLRV in action, refer to T3 Motion’s YouTube Channel, T3MotionTV.

T3 NLRV Features:

  • High-intensity LED deterrent light — up to 40,000 lumens
  • 700 rounds per minute non-lethal shooting capabilities
  • High-capacity air tanks with up to 10,000 round shooting capability
  • PA system
  • Riot shield
  • High-capacity, swappable batteries
  • Video recording capability
  • Puncture-proof tires
  • Fast, mobile and agile
  • All-electric

About T3 Motion, Inc.

T3 Motion, Inc. (AMEX: TTTM) revolutionized the world of personal mobility with the introduction of their flagship electric T3 Series law enforcement vehicles at the International Association of Chiefs of Police conference held in October 2006. Headquartered in Orange County, California, T3 Motion, Inc. is dedicated to raising the bar on environmental standards and law enforcement and security capabilities in personal mobility technology. For more information, visit www.t3motion.com.

About Whelen Engineering:

Whelen Engineering is a leading manufacturer of automotive, aviation, and mass notification technologies. Whelen is the only US manufacturer of emergency warning equipment to still manufacture its products entirely in the United States. Learn more on their website www.whelen.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding T3 Motion’s business, which are not historical facts, are “forward-looking statements” that are not guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, among others, factors associated with market conditions and the satisfaction of customary closing conditions related to the proposed public offering. For additional information concerning these and other factors that may cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Registration Statement filed on Form S-1, as amended, and in the periodic reports the Company files from time to time with the Securities and Exchange Commission.

SOURCE T3 Motion, Inc.

Wednesday, October 19th, 2011 Uncategorized Comments Off on T3 (TTTM) Motion Launches New Product Line

Arabian American (ARSD) Expects Record Quarterly Revenue and Volume for Third Quarter 2011

SUGAR LAND, Texas, Oct. 19, 2011 /PRNewswire/ — Arabian American Development Co. (Nasdaq: ARSD) announced today that based on its preliminary financial review, it expects to report record quarterly revenues and volume for the quarter ended September 30, 2011. The Company expects to report overall financial results for the fiscal quarter on November 3, 2011, and will release dial-in and webcast information the week of October 24th.

Nick Carter, President and Chief Executive Officer, commented, “We attribute the record quarter to the continuation of the strong volume demand that we indicated in our second quarter 2011 conference call. This was driven by new business both domestically and internationally, as well as, strong customer retention. Our previous quarterly revenue record was $48 million in the third quarter 2008. Hand in hand with the record revenue was record volume. The previous record of 12.7 million gallons was reported in the second quarter 2009. We are excited to see our volume increase according to our plan when we committed to the expanded facility in 2008. . With the increased volume, which in turn relates to decreased per unit operating costs, we expect to report earnings per share in excess of the $0.09 estimated by analysts. We look forward to reporting complete financial results for the three and nine months ended September 30, 2011, and discussing operational details in the upcoming press release and earnings call on November 3rd.”

About Arabian American Development Company (ARSD)

ARSD owns and operates a petrochemical facility located in southeast Texas just north of Beaumont which specializes in high purity petrochemical solvents and other solvent type manufacturing. The Company is also the original developer and now a 37% owner of Al-Masane Al-Kobra Mining Company (AMAK), a Saudi Arabian joint stock company which is in the final stages of development in Najran Province of southwestern Saudi Arabia. The mine is scheduled to be in production in early 2012 and will produce economic quantities of copper, zinc, gold, and silver.

Safe Harbor

Statements in this release that are not historical facts are forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon management’s belief as well as assumptions made by and information currently available to management. Because such statements are based upon expectations as to future economic performance and are not statements of fact, actual results may differ from those projected. These risks, as well as others, are discussed in greater detail in Arabian American’s filings with the Securities and Exchange Commission, including Arabian American’s Annual Report on Form 10-K for the year ended December 31, 2010, and the Company’s subsequent Quarterly Reports on Form 10-Q.

Company Contact:

Nick Carter, President and Chief Executive Officer

(409) 385-8300

ncarter@southhamptonr.com

Investor Contact:

Cameron Donahue

Hayden IR

(651) 653-1854

Cameron@haydenir.com

Wednesday, October 19th, 2011 Uncategorized Comments Off on Arabian American (ARSD) Expects Record Quarterly Revenue and Volume for Third Quarter 2011

BioMimetic Therapeutics, Inc. (BMTI) Receives Approval to Commercialize Augment® Bone Graft in Australia

BioMimetic Therapeutics, Inc. (NASDAQ: BMTI) today announced that the Therapeutic Goods Administration (TGA) has approved the Company’s medical device application for Augment® Bone Graft clearing the way for commercialization of the product in Australia and its listing on the Australian Register of Therapeutic Goods (ARTG). Based on the clinical data from the North American pivotal trial and Canadian registration trial evaluating Augment Bone Graft, the product has been approved in Australia for use as an alternative to autograft, the current gold standard in bone grafting, in hindfoot and ankle fusion procedures.

“Approval of Augment Bone Graft by another major regulatory agency, such as the TGA, marks a significant achievement in BioMimetic’s global product development program and further validates our technology, clinical data and ability to gain regulatory approvals,” said Dr. Samuel Lynch, president and CEO of BioMimetic Therapeutics. “Given that obtaining autograft often requires a second surgical procedure, increasing the pain and potential for complications for the patient, and that Augment will be the first alternative approved in foot and ankle fusion surgery with large, randomized controlled clinical data, we are optimistic that Augment will find broad support from Australian hospitals, surgeons and patients alike. We are completing the final steps for pricing and reimbursement and expect a full launch of the product in the first quarter of 2012.”

Augment Bone Graft

Augment was approved in Canada in November 2009 as an alternative to the use of autograft in midfoot, hindfoot and ankle fusion indications and approvability decisions are currently pending in the United States and European Union. Augment is a completely synthetic two-component grafting system for bone regeneration and is composed of a purified bone and tissue growth factor, recombinant human platelet derived growth factor (rhPDGF-BB), and a synthetic calcium phosphate matrix, beta-tricalcium phosphate (β-TCP). When combined the rhPDGF-BB provides the biological stimulus for tissue repair by stimulating the recruitment and proliferation of new bone forming and wound healing cells and blood vessels, while the β-TCP provides the framework or scaffold for new bone growth to occur. Clinicians are referred to the Augment package insert for additional information on the use of this product.

Market Opportunity and Distribution

Millennium Research estimates that the 2011 market for bone graft substitute products in Australia is $52M with the total number of bone graft substitute procedures equaling more than 55,000. Millennium also estimates that the market is growing at a nine and a half percent compound annual growth rate (CAGR). Further, the Australian Institute of Health and Welfare National Hospital Morbidity Database estimates that the number of foot and ankle fusion procedures performed in Australia from 2009 – 2010 equaled more than 6,500, which is approximately five percent of the U.S. market.

With its team of 30 experienced sales representatives, Surgical Specialties Pty Limited, an independent distributor of medical devices in the Australian and New Zealand orthobiologics space, is the exclusive distributor of BioMimetic’s Augment Bone Graft product in Australia. The Company expects Augment will be available to customers in Australia through a soft launch of the product by year end with a full launch anticipated in conjunction with Augment’s inclusion on the February 2012 publication of the Department of Health and Ageing Prosthesis List (PLAC).

About BioMimetic Therapeutics

BioMimetic Therapeutics (NASDAQ: BMTI) is a biotechnology company specializing in the development and commercialization of clinically proven products to promote the healing of musculoskeletal injuries and diseases, including therapies for orthopedics, sports medicine and spine applications. All Augment branded products are based upon recombinant human platelet-derived growth factor (rhPDGF-BB), which is an engineered form of PDGF, one of the body’s principal agents to stimulate and direct healing and regeneration. Through the commercialization of this patented technology, BioMimetic seeks to become the leading company in the field of regenerative medicine by providing new treatment options for the repair of bone, cartilage, tendons and ligaments.

In May 2011, BioMimetic’s Pre-Marketing Approval (PMA) application for Augment Bone Graft received a positive orthopedic advisory panel recommendation on the safety, efficacy and risk profile for the use of the product as an alternative to autograft in hindfoot and ankle fusions and is currently under review by the FDA. Additionally, BioMimetic received regulatory approval in 2009 and 2011 to market the product in Canada and Australia, respectively and is awaiting an approvability decision in Europe, which is expected during the first half of 2012.

For further information contact Kearstin Patterson, director of corporate communications, at 615-236-4419.

Forward-looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current intent and expectations of the management of BioMimetic. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Forward-looking statements include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations that are not historical facts. The words “may,” “continue,” “estimate,” “intend,” “plan,” “will,” “believe,” “project,” “expect,” “anticipate,” “optimistic” and similar expressions may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. There are many important factors that could cause actual results to differ materially from those indicated in the forward-looking statements, including that: (i) despite the Company’s future marketing and commercialization efforts, Augment may not achieve broad market acceptance in Australia; and (ii) despite other regulatory approvals of Augment and the FDA Advisory Panel’s votes in favor of Augment, the FDA may determine that Augment’s Pre-Marketing Application is not approvable, or require additional clinical and/or non-clinical studies before approving Augment, or impose labeling restrictions on any approval of Augment that would significantly reduce Augment’s potential market. Further, BioMimetic’s actual results and the timing and outcome of events may differ materially from those expressed in or implied by the forward-looking statements because of risks associated with the marketing of BioMimetic’s products, the approval process for and the commercialization of its product candidates, preclinical and clinical development activities, risks relating to potential securities claims, product liability claims, other litigation or claims or regulatory inquiries that have been and may be brought against BioMimetic and its officers and directors, regulatory oversight, and other risks detailed in BioMimetic’s filings with the Securities and Exchange Commission. Except as required by law, BioMimetic undertakes no responsibility for updating the information contained in this press release beyond the published date, whether as a result of new information, future events or otherwise, and has no policy of doing so. In addition, BioMimetic undertakes no responsibility for changes made to this document by wire services or Internet services.

Wednesday, October 19th, 2011 Uncategorized Comments Off on BioMimetic Therapeutics, Inc. (BMTI) Receives Approval to Commercialize Augment® Bone Graft in Australia

Marina Biotech (MRNA) Demonstrates In Vivo Dose-Dependent Efficacy and High Tolerability With a CRN-Substituted miRNA Antagonist

BOTHELL, WA — (Marketwire) — 10/19/11 — Marina Biotech, Inc. (NASDAQ: MRNA), a leading oligonucleotide-based drug discovery and development company, reported in vivo dose-dependent efficacy with a CRN-substituted miRNA antagonist, or antagomir, against microRNA-122 (miR-122). The efficacy in a rodent model was demonstrated by up to a 5-fold increase in AldoA, a well-known downstream gene regulated by miR-122. Downstream targets Glycogen Synthase I (GYS1) and Solute Carrier Family 7 member 1 (SLC7A1) were also elevated. The increase in these downstream gene targets was achieved by the sequestration of miR-122 by a high affinity CRN-substituted antagomir. In addition, the CRN-substituted antagomir, which was dosed for three consecutive days at up to 50 mg/kg/day, was extremely well tolerated in rodents as evidenced by normal serum chemistry parameters and no body weight changes.

“Dose-dependent and robust efficacy and tolerability at high doses are significant achievements in the development of both our CRN technology as well as our broad oligonucleotide-based drug discovery platform,” stated Richard T. Ho, M.D.-Ph.D, Executive Vice President, Research and Development at Marina Biotech. “Establishing proof-of-concept data enables us to use CRN technology for both single-stranded and double-stranded oligonucleotide-based therapeutic applications. This work also demonstrates that our proprietary CRN technology is well tolerated in a repeat dose regimen at high doses in a rodent model.”

MicroRNAs are a novel class of small non-coding RNAs that have been shown to regulate gene expression at the post-transcriptional level by binding to their target genes. The vast number of complex gene networks tightly regulated by microRNA includes cell growth, differentiation, and apoptosis. Low expression or overexpression of specific microRNAs can lead to abnormal expression of downstream target messenger RNAs causing physiological changes associated with certain disease pathologies. Inhibition of an aberrant microRNA with an antagonist, or supplementation with a microRNA mimetic, are novel approaches to develop much needed therapeutic modalities for cancers and other diseases.

About Conformationally Restricted Nucleotides.

Conformationally Restricted Nucleotides are analogs in which a chemical bridge connects the C2′ and C4′ carbons of ribose. Ribose, a five-carbon ring-like structure, forms the central region of a nucleotide (comprised of a nucleobase, ribose, and phosphate group). The chemical bridge in the ribose of a CRN locks the ribose in a fixed position, which in turn restricts the flexibility of the nucleobase and phosphate group. Substitution of a CRN within an RNA- or DNA-based oligonucleotide has the advantages of increased hybridization affinity and enhanced resistance to nuclease degradation. CRN technology provides a direct means of developing highly potent and specific oligonucleotide-based therapeutics to target messenger RNAs or microRNAs. These targets connect disease pathways that are typically “undruggable” or “difficult to target” with small molecules or monoclonal antibodies, and may be critical in disease areas with significant unmet needs, such as inflammation, metabolic disease, and cancers. Marina Biotech’s CRN patent estate consists of two issued patents broadly covering CRN compounds and CRN containing oligonucleotides, and one pending patent application covering additional applications of CRNs.

About Marina Biotech, Inc.

Marina Biotech is a biotechnology company, focused on the development and commercialization of oligonucleotide-based therapeutics utilizing multiple mechanisms of action including RNA interference (RNAi) and messenger RNA translational blocking. The Marina Biotech pipeline currently includes a clinical program in Familial Adenomatous Polyposis (a precancerous syndrome) and two preclinical programs — in bladder cancer and malignant ascites. Marina Biotech entered into an exclusive agreement with Debiopharm Group for the development and commercialization of the bladder cancer program. Marina Biotech’s goal is to improve human health through the development of RNAi- and oligonucleotide-based compounds and drug delivery technologies that together provide superior therapeutic options for patients. Additional information about Marina Biotech is available at http://www.marinabio.com.

Forward-Looking Statements

Statements made in this news release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (i) the ability of Marina Biotech to obtain additional funding; (ii) the ability of Marina Biotech to attract and/or maintain manufacturing, research, development and commercialization partners; (iii) the ability of Marina Biotech and/or a partner to successfully complete product research and development, including preclinical and clinical studies and commercialization; (iv) the ability of Marina Biotech and/or a partner to obtain required governmental approvals; and (v) the ability of Marina Biotech and/or a partner to develop and commercialize products that can compete favorably with those of competitors. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in Marina Biotech’s most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. Marina Biotech assumes no obligation to update and supplement forward-looking statements because of subsequent events.

Contact:
Marina Biotech, Inc.
Philip Ranker
Interim Chief Financial Officer
(425) 908-3615
pranker@marinabio.com

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Cyclacel (CYCC) to Present at BIO Investor Forum

BERKELEY HEIGHTS, N.J., Oct. 19, 2011 (GLOBE NEWSWIRE) — Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC) (Nasdaq:CYCCP) (Cyclacel or the Company), announced today that Spiro Rombotis, President and Chief Executive Officer, will present at the 10th Annual BIO Investor Forum in San Francisco, California. Cyclacel’s presentation will take place on Wednesday, October 26 at 11:30 a.m. Pacific Time.

The presentation will be webcast live and archived for 90 days on the Corporate Presentations page of the Cyclacel website at www.cyclacel.com.

About Cyclacel Pharmaceuticals, Inc.

Cyclacel is a biopharmaceutical company developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious diseases. Sapacitabine (CYC682), an orally-available, cell cycle modulating, nucleoside analogue, is in Phase 3 development for the front-line treatment of acute myeloid leukemia in the elderly and Phase 2 studies for myelodysplastic syndromes, lung cancer and chronic lymphocytic leukemia. Seliciclib (CYC202 or R-roscovitine), an orally-available, CDK (cyclin dependent kinase) inhibitor, is in Phase 2 studies for the treatment of lung cancer and nasopharyngeal cancer and in a Phase 1 trial in combination with sapacitabine. Cyclacel’s ALIGN Pharmaceuticals subsidiary markets directly in the U.S. Xclair® Cream for radiation dermatitis, Numoisyn® Liquid and Numoisyn® Lozenges for xerostomia. Cyclacel’s strategy is to build a diversified biopharmaceutical business focused in hematology and oncology based on a portfolio of commercial products and a development pipeline of novel drug candidates. Please visit www.cyclacel.com for additional information.

Forward-looking Statements

This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, the efficacy, safety, and intended utilization of Cyclacel’s product candidates, the conduct and results of future clinical trials, plans regarding regulatory filings, future research and clinical trials and plans regarding partnering activities. Factors that may cause actual results to differ materially include the risk that product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later clinical trials, trials may have difficulty enrolling, Cyclacel may not obtain approval to market its products, the risks associated with reliance on outside financing to meet capital requirements, and the risks associated with reliance on collaborative partners for further clinical trials, development and commercialization of product candidates. You are urged to consider statements that include the words “may,” “will,” “would,” “could,” “should,” “believes,” “estimates,” “projects,” “potential,” “expects,” “plans,” “anticipates,” “intends,” “continues,” “forecast,” “designed,” “goal,” or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties the Company faces, please refer to our most recent Annual Report on Form 10-K and other periodic and current filings that have been filed with the Securities and Exchange Commission and are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

© Copyright 2011 Cyclacel Pharmaceuticals, Inc. All Rights Reserved. The Cyclacel logo and Cyclacel® are trademarks of Cyclacel Pharmaceuticals, Inc. Numoisyn® and Xclair® are trademarks of Sinclair Pharma plc.

CONTACT: Investors/Media:
         Corey Sohmer
         (908) 517-7330
         csohmer@cyclacel.com
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China Information Technology Inc. (CNIT) Announces Newly Signed Contracts During the Third Quarter of 2011

SHENZHEN, China, Oct. 17, 2011 /PRNewswire-Asia-FirstCall/ — China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of information technologies and display technologies based in China, today announced that it signed $24.6 million in new contracts during the third quarter of 2011. The Company’s core IT business segment contributed 44%, or $10.8 million, of the total contract wins, while its Digital Display segment contributed 56%, or $13.8 million.

The Company’s third quarter contract wins came from 28 provinces and provincial cities in China. Some of the important contracts secured include:

  • $1.35 million for work with the City Authority of Pingshan New Zone in Shenzhen. Under the contract, CNIT is expected to provide a custom, integrated application platform for digital city management, as well as system integration software;
  • $0.8 million to create a digital vehicle service monitoring and support system for the Shenzhen Public Security Bureau;
  • $0.73 million to create a digital city management system, including a specialized database, for the Chenzhou Municipal Bureau of Urban Management and Administration;
  • $0.6 million to supply CNIT-brand 60″ and 65″ All-in-One touch screen displays to Shandong Province Education Technology Equipment Co., Ltd; and,
  • $0.47 million to supply CNIT-brand 63″ All-in-One touch screen displays to Suzhou Xinpujie Intelligent Technology Co., Ltd.

Mr. Jiang Huai Lin, Chairman and CEO of the Company, commented, “We saw a decline in the total value of our third quarter contracts, as compared to the same period one year ago. This was the result of a continued slow-down in many government projects following China’s implementation of monetary tightening measures at the start of 2011. Still, we remain positive on the long-term outlook for our IT segment, and believe there will be meaningful opportunities for us in the near future. Our Display Technologies segment contributed 56% of total contract value this quarter, supporting our earlier decision to focus on and expand this segment of our business.”

About China Information Technology, Inc.

China Information Technology, Inc., through its subsidiaries and other consolidated entities, specializes in information technologies and display technologies. Headquartered in Shenzhen, China, the Company’s integrated solutions include specialized software, hardware, systems integration, and related services. To learn more about the Company, please visit its corporate website at http://www.chinacnit.com.

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of China Information Technology, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the significance of the third quarter 2011 contract wins to the Company’s business and the Company’s ability to successfully fulfill its obligations under the contracts; the general ability of the Company to achieve its commercial objectives, including the Company’s plan to sustain growth while creating shareholder value; the outlook for the Company’s information technologies segment and future opportunities; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

For further information, please contact:

China Information Technology, Inc.

Ivy Liang

Tel: +86-755-8370-4734

Email: IR@chinacnit.com

Christensen

Teal Willingham

Tel: +86 10 5826 4939

Email: twillingham@christensenir.com

SOURCE China Information Technology, Inc.

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GeoMet (GMET) Announces Agreement to Purchase Coalbed Methane Assets in Core Areas

HOUSTON, TX — (Marketwire) — 10/17/11 — GeoMet, Inc. (NASDAQ: GMET) (the “Company” or “GeoMet”) announced today that it has executed definitive agreements with a privately-held company to purchase coalbed methane (“CBM”) assets in Alabama and West Virginia, certain natural gas hedge positions, and a license to use a certain drilling technology. The effective date of the transaction is July 1, 2011 (the “Effective Date”) and is subject to customary closing conditions and purchase price adjustments, including the exercise, waiver or expiration of the preferential purchase rights described below. The Company also announced a new amended and restated bank credit agreement which it intends to use to finance the acquisition.

The Transaction

Under the agreement, GeoMet will purchase:

  • Approximately 50 Bcf of estimated net proved CBM reserves (calculated in accordance with SEC guidelines) as of the Effective Date.
  • Net daily gas sales volumes which averaged approximately 22 MMcf per day for the first six months of 2011.
  • Natural gas hedge positions totaling approximately 6.5 Bcf from the Effective Date through December 2012 with an average fixed price of $6.44/Mcf.
  • A royalty free license to use a certain drilling technology in nine counties in West Virginia and one county in Virginia.
  • Approximately 70,000 net acres of undeveloped leasehold in West Virginia.

Total consideration for the acquired assets is $90.2 million, subject to adjustment for net proceeds of production after the Effective Date, realized hedging gains subsequent to the Effective Date, any exercise of preferential purchase rights and other customary purchase price adjustments. Closing of this transaction is expected within the next four to eight weeks dependent on the timing of the exercise, waiver or expiration of the preferential purchase rights described below.

Preferential Purchase Rights

A portion of the CBM properties to be acquired in Alabama, subject to two separate preferential rights to purchase by a single party, have an allocated value of $30.8 million. These preferential rights to purchase are expected to expire on or about October 31, 2011, if not earlier exercised or waived. A portion of the CBM properties to be acquired in West Virginia, subject to a preferential right to purchase by a single party, have an allocated value of $23.4 million. The preferential right to purchase is expected to expire on or about December 6, 2011, if not earlier exercised or waived.

In the event that any one or all of these preferential purchase rights are exercised and the other conditions to closing are satisfied or waived, the Company is obligated to close on the remainder of the transaction.

New Bank Credit Agreement

The Company also announced today that it has entered into an amended and restated bank credit agreement which will become effective upon the closing of the transaction described above. The key elements of this new credit agreement are as follows:

  • The notional amount of the credit agreement will be increased from $180 million to $250 million, and the borrowing base will be increased from $90 million to $180 million (assuming no preferential purchase rights are exercised).
  • The group of lenders, with Bank of America, N.A. as Administrative Agent, BNP Paribas as Syndication Agent and US Bank National Association and Bank of Scotland plc as co-documentation agents, will be increased from five to six banks.
  • The new credit facility will have a four year maturity, an extension of the Company’s current facility by more than two years.
  • The Company’s borrowing rate has been reduced by 50 basis points and certain financial and other covenants have been improved.

Forward-Looking Statements Notice

This press release may contain “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. The anticipated final purchase price, the closing of the acquisition, the closing date, financing of the transaction and other statements that express anticipated events are all forward-looking statements. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those risks, trends and uncertainties are the results of our continuing due diligence, our continued compliance with our existing credit facility, other financing alternatives available to the Company, reserve estimates, future prices and production costs, and actions by holders of preferential rights. In particular, careful consideration should be given to cautionary statements made in the various reports the Company has filed with the SEC, including its Form 10-K for fiscal year 2010. GeoMet undertakes no duty to update or revise these forward-looking statements.

About GeoMet, Inc.

GeoMet, Inc. is an independent energy company primarily engaged in the exploration for and development and production of natural gas from coal seams (“coalbed methane”) and non-conventional shallow gas. Our principal operations and producing properties are located in the Cahaba Basin in Alabama and the Central Appalachian Basin in West Virginia and Virginia. We also control additional coalbed methane and oil and gas development rights, principally in Alabama, British Columbia, Virginia, and West Virginia.

For more information please contact
Steve Smith
(713) 287-2251
Email Contact
www.geometinc.com

Monday, October 17th, 2011 Uncategorized Comments Off on GeoMet (GMET) Announces Agreement to Purchase Coalbed Methane Assets in Core Areas

Inuvo (INUV) Announces Plans to Acquire Vertro (VTRO)

NEW YORK, NY — (Marketwire) — 10/17/11 — New York City-based Vertro™, Inc. (NASDAQ: VTRO) and Clearwater, Florida-based Inuvo®, Inc. (NYSE Amex: INUV), both delivering digital media to millions of consumers, announced today that the parties have entered into a definitive agreement pursuant to which Inuvo will acquire Vertro in an all stock transaction. The deal will bring together two public digital media companies whose combined distribution, expertise, partnerships, technology and synergies should position them well to effectively compete in the evolving digital marketplace across platforms.

Richard K. Howe, Inuvo’s President and Chief Executive Officer, who is expected to be the Executive Chairman in the combined company, commented, “Both companies share a core digital media delivery competency that together should improve our ability to compete and increase shareholder value as a result. Strategically, Vertro’s ALOT™ branded consumer applications business provides an excellent application platform for Inuvo’s BargainMatch® and Kowabunga® branded consumer-facing innovations.”

Vertro’s President and Chief Executive Officer, Peter Corrao, who is expected to be the President and Chief Executive Officer of the combined entity, added, “The anticipated operating synergies and cost savings in this transaction are substantial and should make this a win-win for both sets of stockholders. Separately, this merger should empower and position us to compete aggressively in the multi-platform distribution arena.”

Management of Inuvo and Vertro expect that the combined companies will have the ability to build on an asset base that includes:

  • Combined access to over 132 million unique Internet users each and every month.
  • Approximately 2.5 billion page views per year.
  • A search marketplace that experiences approximately 240 million search queries per month.
  • A distribution capability that produces in excess of 20 million revenue-generating clicks per month.
  • A vibrant App platform and marketplace with hundreds of relevant consumer apps generating usage in the millions of clicks per month.
  • Client software on the desktops of over 8 million users.
  • Hundreds of thousands of ads on over 25 thousand web sites per month.
  • Marketing channels that include search, affiliate, online shopping and daily deals.
  • Relationships with both Google and Yahoo!

Under terms of the agreement, which was unanimously approved by the Board of Directors of each company, at closing of the transaction Vertro will become a wholly-owned subsidiary of Inuvo in a tax-free exchange of shares at an exchange ratio of 1.546 shares of Inuvo common stock per each share of Vertro common stock. The merger is expected to close in the fourth quarter of 2011 or the first quarter of 2012, subject to satisfaction of the closing conditions.

Conference Call Information

The companies will host a joint conference call Tuesday, October 18, 2011 at 4:30 p.m. Eastern Time.

Participants can access the call by dialing 888-669-0684 (domestic) or 201-604-0469 (international). In addition, the call will be webcast with a viewable presentation on both the Inuvo (http://investor.inuvo.com) and Vertro (http://ir.vertro.com/events.cfm) Investor websites where it will also be archived for 45 days. A telephone replay will be available through November 1, 2011.

To access the replay, please dial 888-632-8973 (domestic) or 201-499-0429 (international). At the system prompt, enter the code 37517088 followed by the # sign. Playback will automatically begin.

Transaction Notes:

The completion of the merger is conditioned upon registration of the shares issued to Vertro stockholders on a Registration Statement on Form S-4, approval from stockholders of Vertro and Inuvo, approval of the listing of the shares to be issued on the NYSE Amex, execution of a new credit agreement for the combined company and other customary closing conditions. As a result, the merger may not be consummated. The two companies’ respective stockholders are expected to vote on the merger agreement and the merger, among other things, at stockholder meetings expected to be held in the fourth quarter of 2011 or the first quarter of 2012. America’s Growth Capital has served as financial advisor to Vertro, and Craig-Hallum Capital Group, LLC has served as financial advisor to Inuvo.

About Vertro, Inc.

Vertro, Inc., together with its wholly-owned subsidiaries, is an Internet company that owns and operates the ALOT product portfolio. ALOT offers two primary products to consumers: ALOT Home, a homepage product, and ALOT Appbar, a piece of software that integrates into users’ web browsers. ALOT Home and the ALOT Appbar are used by consumers to display apps (also sometimes referred to as widgets or buttons). These apps provide consumers with a quick and easy way to access their favorite content online. There are hundreds of apps available for consumers to choose from, ranging from a weather app that provides an at-a-glance snapshot of the weather for the coming four days, to a radio app that enables consumers to listen to thousands of radio stations from around the world. All ALOT products and apps are free to download and use.

Source : VTRO-G

About Inuvo, Inc.

Inuvo®, Inc. (NYSE Amex: INUV), is an Internet company proficient at delivering clicks, leads and sales to advertisers through targeting that utilizes unique data and sophisticated analytics. The Company operates as two business segments: Performance Marketing and Web Properties. The Performance Marketing segment provides performance-based marketing and technology solutions to advertisers and publishers, while the Web Properties segment designs and operates websites monetized with advertising inventory supplied from the Performance Marketing segment. To learn more about Inuvo, please visit www.inuvo.com.

Important Information for Investors and Stockholders

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. The proposed merger transaction between Inuvo and Vertro will be submitted to the respective stockholders of Vertro and Inuvo for their consideration. Inuvo will file with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that will include a joint proxy statement of Inuvo and Vertro that also constitutes a prospectus of Inuvo. Inuvo and Vertro will mail the joint proxy statement/prospectus to their respective stockholders. Inuvo and Vertro also plan to file other documents with the SEC regarding the proposed transaction. INVESTORS AND SECURITY HOLDERS OF VERTRO AND INUVO ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and stockholders will be able to obtain free copies of the joint proxy statement/prospectus and other documents containing important information about Inuvo and Vertro, once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov. Inuvo and Vertro make available free of charge at www.inuvo.com and www.vertro.com, respectively (in the “Investors – Filings” and “Financial Information – SEC Filings” sections, respectively), copies of materials they file with, or furnish to, the SEC, or investors and stockholders may contact Inuvo at (727) 324-0211 or Vertro at (646) 253-0606 to receive copies of such documents.

Participants in the Merger Solicitation

Inuvo, Vertro, and certain of their respective directors and executive officers and certain other members of management and employees may be deemed to be participants in the solicitation of proxies from the stockholders of Vertro and Inuvo in connection with the proposed transaction. Information about the directors and executive officers of Inuvo is set forth in its proxy statement for its 2011 annual meeting of stockholders, which was filed with the SEC on May 2, 2011. Information about the directors and executive officers of Vertro is set forth in its proxy statement for its 2011 annual meeting of stockholders, which was filed with the SEC on April 29, 2011. These documents can be obtained free of charge from the sources indicated above. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available.

Forward-looking Statements

This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as “anticipate,” “plan,” “will,” “intend,” “believe” or “expect'” or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to expectations with respect to: the strategy, markets, synergies, costs, efficiencies, and other anticipated financial impacts of the proposed transaction; the combined company’s plans, objectives, expectations, and intentions with respect to future operations; approval of the proposed transaction by stockholders of Inuvo and Vertro; the satisfaction of closing conditions to the proposed transaction and the timing of the proposed transaction. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of Inuvo and Vertro and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, the possibility that the proposed transaction is delayed or does not close, including due to the failure to receive required stockholder approvals, the taking of governmental action (including the passage of legislation) to block the transaction, or the failure to satisfy other closing conditions, and the possibility of adverse publicity or litigation, including an adverse outcome thereof and the costs and expenses associated therewith. Additional factors include, but are not limited to uncertainties and other factors that could cause or contribute to Inuvo’s actual results differing materially from those expressed or implied for the forward- looking statements include, but are not limited to fluctuations in demand; changes to economic growth in the U.S. economy; government policies and regulations, including, but not limited to those affecting the Internet. Inuvo undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Additional factors related to Vertro include, but are not limited to, (1) Vertro’s ability to successfully execute upon its corporate strategies, (2) Vertro’s ability to distribute and monetize our international products at rates sufficient to meet its expectations, (3) Vertro’s ability to develop and successfully market new products and services, including its new homepage, (4) the potential acceptance of new products in the market, and (5) the impact of changes to Vertro’s monetization partners implementation guidelines. Additional key risks are described in the filings made by each of Inuvo and Vertro filed with the U.S. Securities and Exchange Commission, including their respective Form 10-Ks for the year ended December 31, 2010, and Form 10-Qs for quarters ended March 31, 2011 and June 30, 2011.

Monday, October 17th, 2011 Uncategorized Comments Off on Inuvo (INUV) Announces Plans to Acquire Vertro (VTRO)

Marina Biotech, Inc. (MRNA) Announces a $15 Million Purchase Agreement With Lincoln Park Capital Fund, LLC

BOTHELL, WA — (Marketwire) — 10/17/11 — Marina Biotech, Inc. (NASDAQ: MRNA), a leading oligonucleotide-based drug discovery and development company, announced today that it has entered into a purchase agreement with Lincoln Park Capital Fund, LLC (“LPC”), a Chicago-based institutional investor, whereby LPC has committed to invest, at the Company’s sole option, up to $15 million of equity capital.

“LPC has participated in the past as an institutional investor in Marina and we look forward to working with them as a financial partner,” said J. Michael French, President and Chief Executive Officer at Marina Biotech, Inc. “This commitment by LPC provides additional financial flexibility as we continue our research and development efforts.”

During the 30-month term of the purchase agreement the Company controls the timing and amount of any future investment, if and when the Company decides in accordance with the purchase agreement. LPC has no right to require the Company to sell any shares to LPC but LPC is obligated to make purchases as Marina directs, subject to certain conditions, which include the effectiveness of a registration statement with the U.S. Securities and Exchange Commission covering the sale of the shares that may be issued to LPC.

There are no upper limits to the price LPC may pay to purchase the Company’s common stock and the purchase price of the shares related to any future investments will be based on the prevailing market prices of the Company’s shares immediately preceding the notice of sale to LPC without any fixed discount. There are no penalties or liquidated damages in the purchase agreement. The agreement may be terminated by the Company at any time, at its sole discretion, without any cost or penalty. The proceeds from this investment will be used to advance both the Company’s FAP clinical program and broad nucleic acid-based drug discovery platform as well as other general Corporate purposes.

A more detailed description of the agreement is set forth in the Company’s Current Report on Form 8-K filed with the SEC on October 17, 2011 which the Company encourages be reviewed carefully.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale are unlawful prior to registration or qualification under securities laws of any such jurisdiction.

About Marina Biotech, Inc.

Marina Biotech is a biotechnology company, focused on the development and commercialization of oligonucleotide-based therapeutics utilizing multiple mechanisms of action including RNA interference (RNAi) and messenger RNA translational blocking. The Marina Biotech pipeline currently includes a clinical program in Familial Adenomatous Polyposis (a precancerous syndrome) and two preclinical programs — in bladder cancer and malignant ascites. Marina Biotech entered into an exclusive agreement with Debiopharm Group for the development and commercialization of the bladder cancer program. Marina Biotech’s goal is to improve human health through the development of RNAi- and oligonucleotide-based compounds and drug delivery technologies that together provide superior therapeutic options for patients. Additional information about Marina Biotech is available at http://www.marinabio.com.

About Lincoln Park Capital (“LPC”)

LPC is an institutional investor headquartered in Chicago, Illinois. LPC’s experienced professionals manage a portfolio of investments in public and private entities. These investments are in a wide range of companies and industries emphasizing life sciences, energy and technology. LPC’s investments range from multiyear financial commitments to fund growth to special situation financings to long-term strategic capital offering companies certainty, flexibility and consistency. For more information, visit www.LincolnParkCapital.com.

Forward-Looking Statements
Statements made in this news release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (i) the ability of Marina Biotech to obtain additional funding; (ii) the ability of Marina Biotech to attract and/or maintain manufacturing, research, development and commercialization partners; (iii) the ability of Marina Biotech and/or a partner to successfully complete product research and development, including preclinical and clinical studies and commercialization; (iv) the ability of Marina Biotech and/or a partner to obtain required governmental approvals; and (v) the ability of Marina Biotech and/or a partner to develop and commercialize products that can compete favorably with those of competitors. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in Marina Biotech’s most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. Marina Biotech assumes no obligation to update and supplement forward-looking statements because of subsequent events.

For additional information, please contact:
Marina Biotech, Inc.
Phil Ranker
Interim Chief Financial Officer
(425) 908-3615
Email contact: pranker@marinabio.com

Monday, October 17th, 2011 Uncategorized Comments Off on Marina Biotech, Inc. (MRNA) Announces a $15 Million Purchase Agreement With Lincoln Park Capital Fund, LLC

Anadys (ANDS) Announces Agreement To Be Acquired By Roche

SAN DIEGO, Oct. 17, 2011 /PRNewswire/ — Anadys Pharmaceuticals, Inc. (NASDAQ: ANDS) today announced that it has entered into a definitive merger agreement to be acquired by Roche (SIX: RO, ROG; OTCQX: RHHBY). Under the terms of the merger agreement, Roche will commence an all cash tender offer for all outstanding shares of common stock of Anadys at USD 3.70 per share.

The USD 3.70 per share cash offer price represents a 256% premium over the closing price of USD 1.04 on October 14, 2011.

Steve Worland, President and Chief Executive Officer of Anadys, said: “Since Anadys’ formation, our focus has been on driving forward research and development that would make a real difference to the lives of patients, especially those with hepatitis. With Roche’s considerable capabilities and experience in HCV, we believe this acquisition provides the best chance of success for the new potential treatments to reach patients. I would like to thank all our contributors for their dedicated efforts to advance the compounds to their current position.”

Jean-Jacques Garaud, Global Head of Roche Pharma Research and Early Development, said: “This acquisition augments Roche’s already strong HCV portfolio. Our aim is to offer physicians and hepatitis patients a powerful combination of therapies that bring us closer to a cure, even without the use of interferon. Anadys’ compounds provide additional modes of action that could lead to interferon-free treatment regimens without viral resistance.”

Anadys’ Board of Directors determined that the merger agreement and the transactions contemplated thereby are advisable, fair to and in the best interests of Anadys and its stockholders, and recommends that Anadys’ stockholders tender their shares and, if necessary, adopt the merger agreement.

Each of Anadys’ directors and executive officers has agreed to tender their shares in the offer.

The closing of the tender offer will be subject to the tender of a number of shares that, together with the shares owned by Roche, represent a majority of the total number of outstanding shares (assuming the exercise of all vested and unvested options and warrants having an exercise price per share less than the tender offer price) and other customary conditions. In addition, the transaction is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The tender offer is expected to close within the fourth quarter of 2011.

The terms and conditions of the tender offer will be described in the tender offer documents, which will be filed with the U.S. Securities and Exchange Commission (“SEC”).

Lazard is acting as financial advisor to Anadys and Cooley LLP is serving as Anadys’ legal advisor.

About Anadys

Anadys Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to improving patient care by developing novel medicines for the treatment of hepatitis C. The Company believes hepatitis C represents a large unmet medical need in which meaningful improvements in treatment outcomes may be attainable with the introduction of new medicines. Anadys is conducting a Phase IIb study of setrobuvir (ANA598), the Company’s DAA, added to current standard of care for the treatment of hepatitis C. The Company is also developing ANA773, the Company’s oral, small-molecule inducer of endogenous interferons that acts via the Toll like receptor 7, or TLR7, pathway in hepatitis C.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

THE TENDER OFFER FOR THE OUTSTANDING COMMON STOCK OF ANADYS HAS NOT BEEN COMMENCED. THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO PURCHASE OR A SOLICITATION OF AN OFFER TO SELL ANADYS COMMON STOCK. THE SOLICITATION AND OFFER TO BUY ANADYS COMMON STOCK WILL ONLY BE MADE PURSUANT TO AN OFFER TO PURCHASE AND RELATED MATERIALS. AT THE TIME THE OFFER IS COMMENCED, ROCHE WILL FILE A TENDER OFFER STATEMENT ON SCHEDULE TO WITH THE SECURITIES AND EXCHANGE COMMISSION AND THEREAFTER ANADYS WILL FILE A SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 WITH RESPECT TO THE OFFER. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THESE MATERIALS CAREFULLY WHEN THEY BECOME AVAILABLE SINCE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER. THE OFFER TO PURCHASE, SOLICITATION/RECOMMENDATION STATEMENT AND RELATED MATERIALS WILL BE FILED BY ROCHE AND ANADYS WITH THE SECURITIES AND EXCHANGE COMMISSION (SEC), AND INVESTORS AND SECURITY HOLDERS MAY OBTAIN A FREE COPY OF THESE MATERIALS (WHEN AVAILABLE) AND OTHER DOCUMENTS FILED BY ROCHE AND ANADYS WITH THE SEC AT THE WEBSITE MAINTAINED BY THE SEC AT WWW.SEC.GOV. INVESTORS AND SECURITY HOLDERS MAY ALSO OBTAIN FREE COPIES OF THE DOCUMENTS FILED WITH THE SEC BY ANADYS BY CONTACTING ANADYS AT IR@ANADYSPHARMA.COM.

Safe Harbor Statement

Statements in this press release that relate to future results and events are forward-looking statements based on Anadys’ current expectations regarding the tender offer and transactions contemplated by the merger agreement. Actual results and events in future periods may differ materially from those expressed or implied by these forward-looking statements because of a number of risks, uncertainties and other factors. There can be no assurances that a transaction will be consummated. Other risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that the transaction may not be timely completed, if at all; that, prior to the completion of the transaction, if at all, Anadys may not satisfy one or more closing conditions; that the merger agreement may be terminated; and the impact of the current economic environment, risks related to Anadys’ ongoing development activities and clinical trial, and other risks that are described in Anadys’ most recent Form 10-Q for the quarter ended June 30, 2011. Anadys undertakes no obligation to update these forward-looking statements except to the extent otherwise required by law.

SOURCE Anadys Pharmaceuticals, Inc.

Monday, October 17th, 2011 Uncategorized Comments Off on Anadys (ANDS) Announces Agreement To Be Acquired By Roche

T3 Motion (TTTM) Receives Follow-On Order from Kuwait, Bringing

COSTA MESA, Calif., Oct. 12, 2011 /PRNewswire/ — www.t3motion.com – T3 Motion, Inc. (NYSE AMEX: TTTM) T3 Motion, Inc. today announced that the Kuwaiti Ministry of the Interior has placed additional orders bringing the total deployment in Kuwait to $448,000 for T3 Electric Stand-up Vehicles (ESV). The initial shipments have been delivered to the Kuwaiti Ministry of Interior to use for airport security and coastal patrols.

(Logo: http://photos.prnewswire.com/prnh/20110912/LA66230)

“The use of T3 ESVs for Kuwaiti airport homeland security initiatives is just the first step in how T3 Motion will help to bring Kuwait to the cutting edge of modern security,” stated Ki Nam, T3 Motion CEO. “As nations around the world modernize their security initiatives to meet the requirements of evolving technologies, many nations are increasingly taking advantage of T3 ESV’s strong command presence and iconic design for security alternatives. We look forward to this relationship with Kuwait and welcome it as a strong and lasting partnership.”

The Ministry of Interior unveiled their fleet of T3 ESVs at the 2011 Police Academy graduation ceremony, replacing the traditional horseback riders for the ceremony. The Emir of Kuwait as well as other government and security officials were in attendance at the ceremony.

The orders were placed through distributor A&M Ltd. In 2010, T3 Motion and A&M Ltd. executives signed a distribution agreement appointing A&M as the exclusive distributor of the T3 Series ESV in Kuwait. A&M is a long-standing and respected company in Kuwait with an impressive government and private clientele and will provide all operator training and technical support for customers throughout the region. Half of the purchased T3 ESVs have been delivered to Kuwait. The other half are due to be shipped in coming weeks.

This agreement further solidifies T3 Motion’s presence in the Middle East, with contractual agreements in Qatar, Iraq, Jordan, Lebanon, Saudi Arabia and the UAE. T3 ESVs will be featured at the Gulf Defense Show in Kuwait this December.

Want to see the T3 ESVs in action in Kuwait? Watch T3 ESVs in action at the 2011 Police Academy graduation ceremony and T3 ESVs be presented to the Emir.

T3 Series Features

The cutting-edge green technology provides a low cost of operation, at less than 10 cents per day and two re-chargeable, swap-able batteries. The T3 has 24/7 operation with an unlimited range.

  • Zero-degree turning radius
  • Swap-able batteries
  • Speeds up to 25 km/h, the equivalent of 15 mph
  • 9-inch raised platform provides a superior vantage point

About T3 Motion, Inc.

T3 Motion, Inc. (AMEX: TTTM) revolutionized the world of personal mobility with the introduction of their flagship electric T3 Series law enforcement vehicles at the International Association of Chiefs of Police conference held in October 2006. Headquartered in Orange County, California, T3 Motion, Inc. is dedicated to raising the bar on environmental standards and law enforcement and security capabilities in personal mobility technology. For more information, visit www.t3motion.com

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding the completion of this offering T3 Motion’s business, which are not historical facts, are “forward-looking statements” that are not guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, among others, factors associated with market conditions and the satisfaction of customary closing conditions related to the proposed public offering. For additional information concerning these and other factors that may cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Registration Statement filed on Form S-1, as amended, and in the periodic reports the Company files from time to time with the Securities and Exchange Commission.

SOURCE T3 Motion, Inc.

Wednesday, October 12th, 2011 Uncategorized Comments Off on T3 Motion (TTTM) Receives Follow-On Order from Kuwait, Bringing

Gran Tierra Energy (GTE) Initiates Exploration Drilling Operations in Brazil and Colombia

CALGARY, Oct. 12, 2011 /CNW/ – Gran Tierra Energy Inc. (“Gran Tierra Energy”) (NYSE Amex: GTE, TSX: GTE), a company focused on oil exploration and production in South America, today announced that it has initiated exploration drilling operations on two oil prospects in Brazil and exploration drilling operations on one oil prospect in Colombia. Delineation and development drilling is ongoing in Colombia, with additional oil column identified in the Moqueta-6 delineation well.

“Two years after announcing a strategic decision to enter Brazil, Gran Tierra Energy has assembled a large land position and a diverse exploration and development drilling portfolio, with exploration drilling operations now initiated on two prospects, one onshore and one offshore. In parallel, our delineation and development drilling operations on recently discovered reserves in Colombia are ongoing, with exciting new delineation results indicating additional oil column in the Moqueta oil discovery. We have also begun additional exploration drilling on our lands in the Putumayo Basin of Colombia,” said Dana Coffield, President and Chief Executive Officer of Gran Tierra Energy.

Brazil

BM-CAL-10 Block (Statoil 45% WI & Operator, Petrobras 40% WI, Gran Tierra Energy 15% WI)

Statoil do Brasil Ltda. (“Statoil”) commenced drilling operations on October 1, 2011 on the 1-STAT-7-BAS exploration well. The well is located in the deepwater portion of the Camamu Basin at a water depth of 6,200 feet, directly offshore from Salvador and the onshore Recôncavo Basin where Gran Tierra Energy’s operated acreage is located, and is expected to take 60 days to drill.

Documents associated with Gran Tierra Energy’s two farm-in agreements with Statoil, whereby Gran Tierra Energy will be entitled to earn a 10% working interest in Concession Contract BM-CAL-7 operated by PetróleoBrasileiro S.A. (“Petrobras”), and a 15% working interest in Concession Contract BM-CAL-10 operated by Statoil, in the offshore Camamu Basin, are being prepared for submission to the Agência Nacional de Petróleo, Gás Natural e Biocombustíveis (“ANP”) for regulatory approval.

REC-T-142 Block (Gran Tierra Energy 70% WI & Operator, Alvorada 30% WI)

Drilling of the 1-GTE-01-BA oil exploration well began on October 7, 2011. The well is located in Block REC-T-142 in the prolific onshore Recôncavo Basin. This operation is commencing with the drilling of a vertical pilot hole from which core will be acquired from the prospective reservoir section. The pilot well is planned to reach a total measured depth of approximately 6,070 feet and take approximately 35 days to drill.

Upon completion of the well and subsequent evaluation to determine if adequate reservoir is present, a drilling rig is planned to return late in 2011 to drill a horizontal sidetrack from the pilot hole at the optimum depth to test the productivity of the sandstone reservoir target. This will be the first of three horizontal wells Gran Tierra Energy plans to drill in late 2011 and continuing into the first quarter of 2012.

REC-T-129 Block (Gran Tierra Energy 70% WI & Operator, Alvorada 30% WI)

Drilling of the 1-GTE-02-BA oil exploration well is scheduled to begin in mid-October, 2011. This well is located in Block REC-T-129 in the Recôncavo Basin and is targeting two independent light oil reservoir targets. The well is expected to reach a total measured depth of approximately 6,400 feet and take approximately 35 days to drill.

Colombia

Rumiyaco Block (Gran Tierra Energy 100% WI and Operator)

The Rumiyaco-1 oil exploration well began drilling on October 9, 2011. This prospect lies in the southern Putumayo Basin approximately 85 kilometers southwest of Gran Tierra Energy’s existing producing properties, and between two existing oil producing trends. The well is expected to test a structural closure defined by 3-D seismic data at a total measured depth of approximately 10,700 feet and take approximately 45 days to drill.

Chaza Block (Gran Tierra Energy 100% WI and Operator)

The Moqueta-6ST1 delineation well in the 2010 Moqueta oil discovery reached total measured depth of 5,724 feet in basement after encountering oil shows in the Kg Sandstone, the U Sandstone, the T Sandstone and the Caballos reservoirs. The primary T Sandstone and Caballos reservoirs were encountered approximately 250 feet deeper than the equivalent reservoirs in Moqueta-5. Electric log interpretations and pressure gradient data indicate oil pay in the T Sandstone and Caballos reservoirs. A testing program is currently being designed to confirm the nature of the fluids and reservoir productivity of the sandstones.

Testing results are expected in approximately one month.

Sierra Nevada Block (Gran Tierra Energy 100% WI and Operator)

Drilling of the Brillante SE-2 delineation well is expected to begin late October, 2011. This gas field was discovered in 2010 and lies in the Lower Magdalena Basin in northern Colombia. This is the first of two delineation wells that are planned to be drilled in late 2011 and early 2012, with the intent to define adequate reserves to justify the construction of a gas pipeline and commit to long term gas sales contracts. The field is currently producing a nominal volume of gas which is transported by a third party utilizing compressed natural gas trucks. Gran Tierra Energy plans to increase this production to approximately 2 million standard cubic feet of gas per day before the end of 2011. The well is expected to reach total measured depth of approximately 6,000 feet and take approximately 25 days to drill.

Garibay Block (CEPSA 50% WI and Operator, Gran Tierra Energy 50% WI)

Drilling of the Jilguero-2 delineation well in the 2010 Jilguero oil discovery in the Llanos Basin of eastern Colombia is ahead of schedule. The well is expected to reach total measured depth of approximately 9,830 feet in mid-October.

Planning for the initiation of long-term testing of Melero-1, a new oil discovery made in 2011, is continuing, with first production expected in December.

“In summary, the Fourth Quarter of 2011 is going to be a very exciting time for our company, with exploration, delineation and development drilling results expected in Brazil and Colombia, and planning ongoing for a robust 2012 drilling program in those countries as well as in Peru and Argentina, all expected to be fully funded with cash and cash flow at current oil prices and production volumes,” concluded Coffield.

About Gran Tierra Energy Inc.

Gran Tierra Energy is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated in the United States, trading on the NYSE Amex Exchange (GTE) and the Toronto Stock Exchange (GTE), and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Colombia, Argentina, Peru, and Brazil. Gran Tierra Energy has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth.

Gran Tierra Energy’s Securities and Exchange Commission filings are available on a web site maintained by the Securities and Exchange Commission at http://www.sec.gov and on SEDAR at http://www.sedar.com.

Forward Looking Statements:

This news release contains certain forward-looking information and forward-looking statements (collectively, “forward-looking statements”) under the meaning of applicable securities laws, including Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations and the United States Private Securities Litigation Reform Act of 1995. The use of the words “expected”, “planned”, “plans”, “scheduled”, “may”, “will” and derivations thereof similar terms identify forward-looking statements. In particular, but without limiting the foregoing, this news release contains forward-looking statements regarding Gran Tierra Energy’s planned and expected drilling operations in Brazil and Colombia including, without limitation: anticipated drilling locations, depths and timelines; the results of Gran Tierra Energy’s two farm-in agreements with Statoil; expectations respecting testing, pilot hole and delineation drilling; the timing and amount of production expected from drilling activities; and the funding of drilling and operations.

The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of Gran Tierra Energy including, without limitation: assumptions relating to log evaluations; that Gran Tierra Energy will continue to conduct its operations in a manner consistent with past operations, the accuracy of testing and production results and seismic data, the effects of certain drilling techniques and the general continuance of current or, where applicable, assumed operational, regulatory and industry conditions. Gran Tierra Energy believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct.

The forward-looking statements contained in this news release are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements, including, among others: the two farm-in agreements with Statoil are subject to regulatory approval by the ANP, the timing and results of which are outside of Gran Tierra Energy’s control, which approval if not obtained or delayed could cause these farm-ins not to occur or to be delayed; unexpected technical difficulties and operational difficulties may occur, or the obtaining of environmental permits may be delayed, which could impact or delay the commencement of drilling exploration, development and/or delineation wells; geographic, political and weather conditions can impede testing, which could impact or delay the commencement of drilling exploration, development and/or delineation wells; and the risk that current global economic and credit market conditions may impact oil prices and oil consumption more than Gran Tierra Energy currently predicts, which could cause Gran Tierra Energy to not realize the benefit that it expects from the contracts, or to fund the drilling operations solely from cash and cash flow from operations. Although Gran Tierra Energy’s plans for its drilling operations and the funding thereof are based upon the current expectations of the management of Gran Tierra Energy, there may be circumstances where, for unforeseen reasons, a change in such plans may be necessary as may be determined at the discretion of Gran Tierra Energy and there can be no assurance as at the date of this press release as to how drilling operations may be altered or funds reallocated. Should any one of a number of issues arise, Gran Tierra Energy may find it necessary to alter its current business strategy and/or capital spending program. Further information on potential factors that could affect Gran Tierra Energy are included in risks detailed from time to time in Gran Tierra Energy’s Securities and Exchange Commission filings, including, without limitation, under the caption “Risk Factors” in Gran Tierra Energy’s Quarterly Report on Form 10-Q filed August 9, 2011. These filings are available on a Web site maintained by the Securities and Exchange Commission at http://www.sec.gov and on SEDAR at www.sedar.com. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this press release are made as of the date of this press release and Gran Tierra Energy disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Wednesday, October 12th, 2011 Uncategorized Comments Off on Gran Tierra Energy (GTE) Initiates Exploration Drilling Operations in Brazil and Colombia

MoSys (MOSY) Announces Bandwidth Engine Development Kits

MoSys, Inc., (NASDAQ: MOSY), a leading provider of serial chip-to-chip communications solutions that deliver unparalleled bandwidth performance for next generation networking systems and advanced system-on-chip (SoC) designs, announces the availability of its Bandwidth Engine® FPGA Companion Kit and Characterization Kit.

These Bandwidth Engine development kits allow system designers to evaluate and develop code for next-generation networking systems that incorporate Bandwidth Engine ICs. The FPGA Companion Kit includes a MoSys Bandwidth Engine evaluation board with FCI AirMax VS® connectors arranged in accordance to Interlaken Physical Interop Recommendations, which allow for integration with standard FPGA 100G development kits.

The Characterization Kit contains a board populated with SMA connectors to interface to any suitable FPGA or ASIC development system purpose of SerDes evaluation, the Characterization Kit can be operated in loopback mode connected to high-performance test equipment.

Both kits allow for connection of all 16 OIF CEI-11 compatible SerDes lanes that operate at up to 10.3125 Gbps and communicate with the host using the GigaChip™ Interface. The boards are available with either a test socket or with a Bandwidth Engine IC soldered onto the board.

“MoSys’ FPGA Companion Kit and Characterization Kit enable customers to evaluate Bandwidth Engine ICs and develop products on fully-functional hardware platforms,” stated David DeMaria, Vice President of Business Operations. “This is an important milestone in enabling our customers to incorporate Bandwidth Engine ICs into their next generation of products.”

About MoSys, Inc.

MoSys, Inc. (NASDAQ: MOSY) is a leading provider of high-performance networking memory solutions and high-speed, multi-protocol serial interface intellectual property (SerDes IP). MoSys’ leading edge Bandwidth Engine® ICs combine the company’s patented 1T-SRAM® high-density memory with its SerDes IP and are initially targeted at providing breakthroughs in bandwidth and access performance in next generation networking systems. MoSys’ SerDes IP and DDR3 PHYs support a wide range of data rates across a variety of standards, while its 1T-SRAM memory cores provide a combination of high-density, low-power consumption, high-speed and low cost advantages for high-performance applications. MoSys is headquartered in Santa Clara, California. More information is available on MoSys’ website at www.mosys.com.

MoSys, 1T-SRAM and Bandwidth Engine are registered trademarks of MoSys, Inc. in the US and/or other countries. The MoSys logo and GigaChip are trademarks of MoSys, Inc. All other marks mentioned herein are the property of their respective owners.

Wednesday, October 12th, 2011 Uncategorized Comments Off on MoSys (MOSY) Announces Bandwidth Engine Development Kits