Alliance Announces Commitments for Senior Secured Term Loan

Company Increases 2013 Full Year Guidance for Decrease in Net Debt

Alliance HealthCare Services, Inc. (NASDAQ: AIQ), a leading national provider of outpatient diagnostic imaging and radiation therapy services, announced that it has obtained commitments from lenders with respect to a new senior secured credit agreement.

Howard Aihara, executive vice president and chief financial officer stated, “Our ability to refinance our new senior secured term loan on such favorable terms is a clear testament to the improvements in our business performance and the strength of our balance sheet. The financing represents yet another positive step in our ongoing effort to maximize the efficiency of our capital structure, while providing the flexibility and cash flow necessary to execute upon our strategic initiatives, including ongoing reduction of our debt. This new facility will allow us to significantly reduce our interest rate and associated interest expense on an ongoing basis, which will translate into increased cash flow for the current fiscal year and beyond. The Company intends to use the net proceeds from this new term loan agreement to finance the repayment of our existing credit agreement and to redeem a portion of our outstanding senior notes. We are appreciative of the support we received from our lead bank, Credit Suisse, our existing lenders who renewed their commitments and a significant number of new lenders.”

Debt Refinancing Highlights

• Debt refinancing will save the Company $12 million in cash interest expense annually and approximately $7 million in 2013
• Company increases full year guidance for decrease in net debt by $7 million
• Interest rate decreases to LIBOR plus 3.25% with 1.00% LIBOR floor representing cash savings of approximately $9 million annually
• The prior Credit Agreement had interest rate of LIBOR plus 5.25% with 2.00% LIBOR floor
• Significant over-subscription allowed Alliance to upsize term loan from $340 million to $420 million; $80 million upsize to be used to call $80 million of 8.0% Senior Notes, further reducing annual cash interest expense by $3 million

Senior Secured Term Loan Refinancing

Alliance’s new senior secured credit agreement will be comprised of a $420 million term loan maturing June 2019 and a $50 million revolving credit facility maturing June 2018. Interest on the term loan is expected to be calculated, at Alliance’s option, at a base rate plus a 2.25% margin or LIBOR plus a 3.25% margin, subject to a 1.00% LIBOR floor. Prior to the refinancing of its senior secured term loan, Alliance was paying either a base rate plus a 4.25% margin or LIBOR plus a 5.25% margin with a 2.00% LIBOR floor. Excluding the $80 million upsize in the term loan, the change in interest rate on the term loan would save Alliance approximately $9 million in cash interest on an annualized basis.

Interest on the revolving credit facility is expected to be calculated, at Alliance’s option, at a base rate plus an applicable margin of between 2.00% and 2.25% or LIBOR plus an applicable margin of between 3.00% and 3.25%, subject to a 1.00% LIBOR floor. The applicable margins under the revolving credit facility will be based on Alliance’s applicable leverage ratio as calculated under the new senior secured credit agreement. Alliance will pay a 0.50% upfront fee on the amount of the revolving credit facility, and the term loan will be funded at 99.5% of the principal amount. Alliance will also pay a 0.50% per annum fee on the unused amount of the revolving credit facility, subject to a step-down to 0.375% based on Alliance’s applicable leverage ratio. Closing of the new senior secured credit agreement is subject to completion of satisfactory documentation and satisfaction of other closing conditions.

Alliance intends to use the net proceeds from the new senior secured credit agreement to finance the repayment of the $325 million outstanding aggregate principal balance of its existing credit agreement and to call for redemption $80 million in principal amount of its 8% Senior Notes. Alliance expects to use the remaining borrowings under the new senior secured credit agreement to pay fees and expenses related to the new senior secured term loan and to pay the call premium related to the redemption of the 8% Senior Notes. Alliance’s new senior secured credit agreement is expected to close on or about June 3, 2013. The redemption will be effected pursuant to the terms of the indenture governing the 8% Senior Notes, and Alliance intends to initiate the redemption on or around the date of closing of the new senior secured term loan.

Full Year 2013 Guidance Update

As a result of the decrease in interest rates under the new senior secured term loan, Alliance is updating its guidance impacted by the increase in cash flow. On an annualized basis, the Company expects to lower interest expense by approximately $12 million and expects 2013 interest expense to decrease by $7 million, based on the closing date of the facility. The Company’s guidance for decrease in total long-term debt, net of the change in cash and cash equivalents, excluding fees and expenses related to the refinancing, is now expected to range from $32 to $42 million, which is an increase from the prior range of $25 to $35 million. There are no other changes in Alliance’s previously announced 2013 guidance expected to result from the new senior secured credit agreement.

About Alliance HealthCare Services

Alliance HealthCare Services is a leading national provider of advanced outpatient diagnostic imaging and radiation therapy services based upon annual revenue and number of systems deployed. Alliance focuses on MRI, PET/CT and CT through its Imaging division and radiation therapy through its Oncology division. With approximately 1,800 team members committed to providing exceptional patient care and exceeding customer expectations, Alliance provides quality clinical services for over 1,000 hospitals and other healthcare partners in 44 states. Alliance operates 487 diagnostic imaging and radiation therapy systems. The Company is the nation’s largest provider of advanced diagnostic mobile imaging services and one of the leading operators of fixed-site imaging centers, with 129 locations across the country. Alliance also operates 28 radiation therapy centers, including 17 dedicated stereotactic radiosurgery facilities, many of which are operated in conjunction with local community hospital partners, providing treatment and care for cancer patients. With 17 stereotactic radiosurgery facilities in operation, Alliance is among the leading providers of stereotactic radiosurgery nationwide.

Forward-Looking Statements

This press release contains forward-looking statements relating to future events, including statements related to the terms of the new senior secured credit agreement, the closing of the new senior secured credit agreement and the anticipated use of the proceeds therefrom, including the proposed redemption of $80 million in principal amount of the 8% Senior Notes, and the Company’s 2013 guidance, including the impact of the new senior secured term loan on the Company’s guidance for decrease in total debt, net of the change in cash and cash equivalents.

In this context, forward-looking statements often address the Company’s expected future business and financial results and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks” or “will.” Forward-looking statements by their nature address matters that are uncertain and subject to risks. Such uncertainties and risks include: changes in financial results and guidance in the event of a restatement or review of the Company’s financial statements; the nature, timing and amount of any such restatement or other adjustments; the Company’s ability to make timely filings of its required periodic reports under the Securities Exchange Act of 1934; issues relating to the Company’s ability to maintain effective internal control over financial reporting and disclosure controls and procedures; the Company’s high degree of leverage and its ability to service its debt; factors affecting the Company’s leverage, including interest rates; the risk that the counterparties to the Company’s interest rate swap agreements fail to satisfy their obligations under these agreements; the Company’s ability to obtain financing; the effect of operating and financial restrictions in the Company’s debt instruments; the accuracy of the Company’s estimates regarding its capital requirements; the effect of intense levels of competition in the Company’s industry; changes in the methods of third party reimbursements for diagnostic imaging and radiation oncology services; fluctuations or unpredictability of the Company’s revenues, including as a result of seasonality; changes in the healthcare regulatory environment; the Company’s ability to keep pace with technological developments within its industry; the growth or lack thereof in the market for imaging, radiation oncology and other services; the disruptive effect of hurricanes and other natural disasters; adverse changes in general domestic and worldwide economic conditions and instability and disruption of credit markets; difficulties the Company may face in connection with recent, pending or future acquisitions, including unexpected costs or liabilities resulting from the acquisitions, diversion of management’s attention from the operation of the Company’s business, and risks associated with integration of the acquisitions; and other risks and uncertainties identified in the Risk Factors section of the Company’s Form 10-K for the year ended December 31, 2012, filed with the Securities and Exchange Commission (the “SEC”), as may be modified or supplemented by our subsequent filings with the SEC. These uncertainties may cause actual future results or outcomes to differ materially from those expressed in the Company’s forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake to update its forward-looking statements except as required under the federal securities laws.

GigOptix (GIG) Showcasing RF MMICs and E-Band Products at IMS 2013

GigOptix, Inc. (NYSE MKT: GIG), a leading supplier of advanced semiconductor and optical communications components, will showcase several leading RF MMICs and E-Band products.

At IMS booth #2507, GigOptix will showcase the following leading RM MMICs and E-band products:

• iT2008: a high-performance DC to 26.5GHz power amplifier in test fixture
• iT3011E: a high-sensitivity limiting amplifier with operation from DC to 12.5GHz and high-gain
• iT3018E: a leading DC to 12.5GHz, high-gain receiver limiter amplifier with differential output
• iT4036F: a wideband analog phase delay in an evaluation board
• EXP7603: a 71-76GHz low E-band power amplifier
• EXP8602: a 81-86GHz high E-band power amplifier

GigOptix E-Band Products

GigOptix has two low E-band power amplifiers (71-76GHz), the EXP7602 and EXP7603, and two high E-band power amplifiers (81-86GHz), the EXP8602 and EXP8603. GigOptix provides additional E-band solutions including: the EXO8602ZZ Lange Coupler, and the EXE8602 power detector.

GigOptix has also developed highly-integrated silicon-germanium (SiGe) transmitter and receiver chipsets:

• EXU7610: low E-band transmitter
• EXD7610: low E-band receiver
• EXU8610: high E-band transmitter
• EXD8610: high E-band receiver

These SiGe transmitter and receiver chips are expected to be available for sampling at the end of June 2013.

When the EXP7602/3 and EXU7610 are combined, they provide a competitive 2-chip low E-band solution. When the EXP8602/3 is combined with the EXU8610 a compelling 2-chip solution for the high E-band is achieved.

For more information, please visit GigOptix booth #2507 at IMS 2013 or contact your local sales manager via sales@gigoptix.com.

About GigOptix, Inc.

GigOptix is a leading fabless supplier of semiconductor and optical components that enable high speed information streaming that address emerging high growth opportunities in the communications, industrial, defense and avionics industries. The Company offers a broad portfolio of high performance MMIC solutions that enable next generation wireless microwave systems up to 90GHz and drivers, TIAs and TFPS^TM optical modulators for 40 Gbps and 100 Gbps fiber-optic telecommunications and data-communications networks. GigOptix also offers a wide range of digital and mixed-signal ASIC solutions and enables product lifetime extension through its GigOptix Sunset Rescue Program.

Fuwei (FFHL) Films Receives Positive Outcome in Anti-Dumping Review

BEIJING, May 31, 2013 /PRNewswire/ — Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) (“Fuwei Films” or the “Company”), a manufacturer and distributor of high-quality BOPET plastic films in China, today announced that the United States Court of International Trade, as a result of an administrative challenge brought by Fuwei Films, has found that Fuwei Films’ shipments did not give rise to any anti-dumping duties for the period from November 6, 2008 to October 31, 2009.

On March 18, 2011, Fuwei Films filed an administrative lawsuit against the US Department of Commerce (“the Department”) regarding the anti-dumping duty of 30.91% imposed as a result of the first round of anti-dumping administrative review. The Department, after recalculating the rate following administrative challenge, found that Fuwei Films’ shipments resulted in a level of dumping that was “de minimis” which carries no associated anti-dumping duties. All of Fuwei Films’ importers will receive a full refund of all of the monies deposited as anti-dumping duties for entries made during this period, plus interest.

Mr. Xiaoan He, Chairman and CEO of Fuwei Films, said, “This is exciting news for the growth of Fuwei Films. We have long maintained that we conduct our business relations according to the highest standards and this ruling supports our claim. We plan to continue to expand overseas markets as well as accelerate the R & D of the optical thick films to be produced on the third production line to remain competitive and increase the revenue of the Company.”

About Fuwei Films

Fuwei Films conducts its business through its wholly owned subsidiary, Fuwei Films (Shandong) Co., Ltd. (“Fuwei Shandong”). Fuwei Shandong develops, manufactures and distributes high-quality plastic films using the biaxial oriented stretch technique, otherwise known as BOPET film (biaxially oriented polyethylene terephthalate). Fuwei’s BOPET film is widely used to package food, medicine, cosmetics, tobacco, and alcohol, as well as in the imaging, electronics, and magnetic products industries.

Safe Harbor

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to risks. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission which, among other things, include both the short and long-term effects of the global financial crisis on the Company and the BOPET film industry; competition in the BOPET film industry; growth of, and risks inherent in, the BOPET film industry in China; uncertainty as to future profitability and our ability to obtain adequate financing for our planned capital expenditure requirements; uncertainty as to our ability to continuously develop new BOPET film products and keep up with changes in BOPET film technology; risks associated with possible defects and errors in our products; uncertainty as to our ability to protect and enforce our intellectual property rights; uncertainty as to our ability to attract and retain qualified executives and personnel; and uncertainty in acquiring raw materials on time and on acceptable terms, particularly in view of the volatility in the prices of petroleum products in recent years. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release. Actual results of our operations may differ materially from information contained in the forward-looking statements as a result of the risk factors.

For more information, please contact:

In China:

Miss Lysander Lee
Investor Relations Officer
Phone: +86-133-615-59266
Email: fuweiIR@fuweifilms.com

In the U.S.:

Ms. Leslie Wolf-Creutzfeldt
Investor Relations
Grayling
Phone: +1-646-284-9472
Email: leslie.wolf-creutzfeldt@grayling.com

LipoScience (LPDX) Presents Data At The National Lipid Association Annual Scientific Sessions

Four clinical studies highlight the importance of measuring lipoprotein particles to manage cardiovascular disease

RALEIGH, N.C., May 31, 2013 /PRNewswire/ — LipoScience, Inc. (NASDAQ: LPDX), a diagnostic company pioneering a new field of personalized nuclear magnetic resonance (NMR) diagnostics to advance the quality of patient care, today announced the presentation of data from four clinical studies at the National Lipid Association (NLA) Annual Scientific Sessions in Las Vegas, Nevada. The data demonstrate the value of measuring lipoprotein particles in a patient’s blood sample as a tool for cardiovascular disease (CVD) management.

“Consistently, research is linking low-density lipoprotein particle number (LDL-P) and high-density lipoprotein particle number (HDL-P) to cardiovascular disease progression and events. The studies presented at NLA validate the importance of looking at lipoprotein particle numbers to individualize patient management and minimize cardiovascular risk,” said Robert Honigberg, MD, Chief Medical Officer of LipoScience.

The data are to be presented today in the following posters during sessions starting at 12:30 p.m. PDT:

• Heterogeneity of LDL and HDL Particle Concentration in Subjects Meeting LDL-Cholesterol Goals
  Presenters:  James Underberg, MD and Gregory Pokrywka, MD
  Abstract/Poster #: 101

• HDL Particle Number (HDL-P) Distribution in Patients with Angiographic Coronary Artery Disease on Lipid-Lowering Medication
  Lead presenter: Hector Malave, MD
  Abstract/Poster #: 102

• Lipoprotein Particle Number (LDL-P) Distribution in Polycystic Ovary Syndrome Patients
  Lead presenter: Jason Reingold, MD
  Abstract/Poster #: 105

• Discordance Between LDL Particle Number (LDL-P) and LDL-Cholesterol (LDL-C) Among Patients Treated at Two Medical Systems
  Presenters: Kari Uusinarkaus, MD and Thomas White, MD
  Abstract/Poster #: 107

In each of the studies, LDL-P and HDL-P were measured using LipoScience’s proprietary NMR spectroscopy technology. The studies found that 55 to 75 percent of patients display discordance between low-density lipoprotein cholesterol (LDL-C) and LDL-P levels. Measuring lipoprotein particle number provides an opportunity to personalize patient management.

In one study, “Heterogeneity of LDL and HDL Particle Concentration in Subjects Meeting LDL-Cholesterol Goals,” investigators studied the variations of LDL-P and HDL-P numbers to determine residual CVD risk in more than 6,500 patients who were at target LDL-C and high- density lipoprotein cholesterol (HDL-C) levels. The study found considerable discordance between cholesterol levels and particle numbers for both LDL and HDL, suggesting that quantifying lipoprotein particle concentrations may better identify residual risk for cardiovascular events than measuring cholesterol levels alone.

For more information on LipoScience and the studies being presented at NLA, please visit www.liposcience.com or the LipoScience booth at exhibit hall space #314.

About LipoScience, Inc.
LipoScience, Inc. is pioneering a new field of personalized diagnostics based on nuclear magnetic resonance (NMR) technology. The company’s first proprietary diagnostic test, the NMR LipoProfile^® test, measures the number of low-density lipoprotein particles (LDL-P) in a blood sample and provides physicians and their patients with actionable information to personalize management of risk for heart disease. To date, over 9 million NMR LipoProfile tests have been ordered.  LipoScience’s automated clinical analyzer, Vantera^®, has been cleared by the U.S. Food and Drug Administration (FDA).  It requires no previous knowledge of NMR technology to operate and has been designed to dramatically simplify complex technology through ease of use and walk-away automation. The Vantera Clinical Analyzer will be placed with national and regional clinical laboratories.

LipoScience is driving toward becoming a clinical standard of care by decentralizing its technology and expanding its menu of personalized diagnostic tests to address a broad range of cardiovascular, metabolic and other diseases. For further information on LipoScience, please visit www.liposcience.com and www.theparticletest.com.

Graham Corp. (GHM) Reports Record Revenue for Fiscal 2013

• Fourth quarter revenue was $30.9 million; fiscal 2013 revenue was a record $105.0 million
• Operating margin was 18.4% in the fourth quarter, up from 7.7% in the prior-year fourth quarter
• Fourth quarter diluted earnings per share were $0.41, compared with $0.04 in fourth quarter of fiscal 2012; diluted earnings per share were $1.11 in fiscal 2013, up from $1.06 in fiscal 2012
• Orders for the fourth quarter were $25.9 million; backlog at fiscal year end was $85.8 million
• Fiscal 2014 revenue of approximately $100 million to $115 million expected

BATAVIA, N.Y., May 31, 2013 (GLOBE NEWSWIRE) — Graham Corporation (NYSE MKT:GHM), a global business that designs, manufactures and sells critical equipment for the oil refining, petrochemical and power industries, including the supply of components and raw materials to nuclear energy facilities, today reported its financial results for its fourth quarter and fiscal year ended March 31, 2013 (“fiscal 2013”).

Net sales in the fourth quarter of fiscal 2013 were $30.9 million, up from net sales of $20.3 million in the fourth quarter of the fiscal year ended March 31, 2012 (“fiscal 2012”), with the increase driven primarily by international sales. Higher volume and improved margins drove net income to $4.1 million, or $0.41 per diluted share, compared with $0.4 million, or $0.04 per diluted share, in the prior-year’s fourth quarter.

Fiscal 2013 net sales of $105.0 million increased by $1.8 million, or 1.7%, over net sales of $103.2 million in fiscal 2012. Net income in fiscal 2013 was $11.1 million compared with net income of $10.6 million in fiscal 2012, an increase of $0.6 million, or 5.6%. Per diluted share, fiscal 2013 earnings were $1.11 compared with $1.06 in the prior year. Fiscal 2013 included a $975 thousand, or $0.10 per diluted share, benefit from the reversal of the earn-out reserve related to Graham’s wholly-owned subsidiary Energy Steel & Supply Co. Excluding this benefit, fiscal 2013 adjusted net income was $10.2 million, or $1.01 per diluted share.

Mr. James R. Lines, Graham’s President and Chief Executive Officer, commented, “We executed well in 2013 and delivered solid results while operating in what to date has been a modest market recovery.  During a rather moderate market, our team effectively influenced what was within their control to drive top line growth and earnings.”

Increased Refining Shipments Drove Improved Revenue in Fourth Quarter

International sales increased by 87%, or $6.7 million, to $14.5 million in the fiscal 2013 fourth quarter compared with the same prior-year period. Sales improved across all regions, particularly in Asia and the Middle East. Fourth quarter sales to the U.S. market were $16.4 million, or 53% of total sales, up $3.9 million, or 31.6%, compared with $12.5 million in the same prior-year period.

Fourth Quarter Fiscal 2013 Sales by Industry
($ in millions)

Refining industry sales more than tripled in the fourth quarter of fiscal 2013 compared with the prior-year period on higher demand for Graham’s engineered-to-order products, primarily in China. Higher sales to the power market reflect advancing projects in backlog for new build nuclear facilities. Increased sales to other commercial and industrial markets were primarily related to the progress made on the Naval Nuclear Propulsion Program (“NNPP”) orders in backlog.  Lower sales to the chemical/petrochemical market were mostly associated with project timing.

Fluctuations in Graham’s sales among geographic locations and industries can vary measurably from quarter-to-quarter based on the timing and magnitude of projects. Graham does not believe that such quarter-to-quarter fluctuations are indicative of business trends, which it believes are more apparent on a trailing one to two year basis.

Fourth Quarter Operating Performance

Gross profit was $10.5 million, or 34.1% of sales, in the fourth quarter of fiscal 2013 compared with $5.2 million, or 25.6% of sales, in the same period of the prior fiscal year and compared with $7.1 million, or 27.8% of sales, in the trailing third quarter of fiscal 2013. The improvements in gross profit and margin compared with the same prior-year quarter and the trailing third quarter were the result of both higher volume and sales of aftermarket products.

Selling, general and administrative (“SG&A”) expenses in the fourth quarter of fiscal 2013 were $4.9 million, up from $3.6 million in the prior-year period. SG&A as a percent of sales improved to 15.7% in the fourth quarter of fiscal 2013 compared with 17.9% in the prior-year period.

Operating profit in the fourth quarter of fiscal 2013 was $5.7 million, or 18.4% of sales, compared with $1.6 million, or 7.7% of sales, in the fourth quarter of fiscal 2012.

Earnings before interest, taxes, depreciation, and amortization (“EBITDA”) was $6.2 million, or 20.1% of sales, in the fourth quarter of fiscal 2013 compared with $2.1 million, or 10.5% of sales, in the same period of the prior fiscal year. Graham believes that when used in conjunction with measures prepared in accordance with U. S. generally accepted accounting principles (“GAAP”), EBITDA, which is a non-GAAP measure, helps in the understanding of its operating performance. Graham’s credit facility also contains ratios based on EBITDA. See the attached tables for important disclosures regarding Graham’s use of EBITDA as well as a reconciliation of net income to EBITDA.

Graham’s effective tax rate for the fourth quarter of fiscal 2013 was 28.1% compared with 68.2% in the same prior-year period. The lower tax rate in fiscal 2013 includes research and development (“R&D”) related tax credits retroactive to the start of the fiscal year, due to the extension of the credit in January 2013. The prior-year’s effective tax rate was impacted by adjustments related to a settlement with the IRS.

Fiscal 2013 Full Year Review                                  

Net sales for fiscal 2013 were $105.0 million, up from $103.2 million in fiscal 2012. International sales were $49.3 million and represented 47% of total sales in fiscal 2013 compared with $47.8 million, or 46% of total sales, in fiscal 2012. Compared with fiscal 2012, U.S. sales increased by $0.3 million, or 0.5%, to $55.7 million for fiscal 2013.

Gross profit for fiscal 2013 declined to $31.8 million, or 30.3% of total sales, compared with $32.6 million, or 31.6% of sales, in the same prior-year period. Lower gross profit in fiscal 2013 reflected lower relative margins in the first half of fiscal 2013, a trend that reversed during the second half of the fiscal year. On a comparative basis, the first half of fiscal 2012 benefitted from higher margin projects which were won during the last up cycle.

SG&A expenses of $16.6 million in fiscal 2013 were up from $15.5 million in fiscal 2012. As a percentage of sales, SG&A was 15.8% in fiscal 2013 compared with 15.1% in the prior fiscal year. Excluding the impact of the $975 thousand earn-out reserve reversal related to Energy Steel in the third quarter of fiscal 2013, adjusted SG&A for fiscal 2013 was $17.5 million.  Adjusted SG&A as a percent of fiscal 2013 sales was 16.7%.

EBITDA for fiscal 2013 was $17.3 million, or 16.5% of sales, compared with $19.1 million, or 18.5% of sales, in fiscal 2012. See the attached tables for important disclosures regarding Graham’s use of EBITDA as well as a reconciliation of net income to EBITDA.

Strengthened Balance Sheet with No Debt

Cash flow used in operations in the fourth quarter of fiscal 2013 was $2.5 million compared with $1.3 million in the fourth quarter of fiscal 2012. Cash provided by operations in fiscal 2013 was $12.4 million, up from $2.6 million of cash provided by operations during fiscal 2012. The increase in cash provided by operations in fiscal 2013 was primarily related to improvements in working capital requirements.

Cash, cash equivalents and investments at March 31, 2013 increased to $51.7 million compared with $41.7 million at March 31, 2012. When compared with December 31, 2012, cash, cash equivalents and investments were down by $3.4 million from $55.1 million.

Capital expenditures were $0.7 million in the fourth quarter of fiscal 2013 compared with $0.6 million in the fourth quarter of fiscal 2012. For fiscal 2013, capital expenditures were $1.7 million compared with $3.2 million in fiscal 2012. Capital expenditures in fiscal 2014 are expected to be in the range of $3.5 million to $4.5 million, with the upper end of the range likely to be spent only upon successfully securing orders for the U.S. Navy submarine program.

Graham had neither borrowings outstanding under its credit facility nor any long-term debt at March 31, 2013.

Strong Pipeline of Opportunities and Increasing Bid Activity

Mr. Lines concluded, “We remain encouraged by the quality and quantity of bidding activity for the significant number of what appear to be funded and viable energy industry projects. These expected projects include new petrochemical and fertilizer capacity, new coal to liquids and gas to liquids facilities, refining investments and investments in power generation markets.  Our commitment to realizing our near-term strategy to double Graham across this expansion cycle is unchanged.  While in the midst of the present modest recovery phase in our markets, it remains difficult to predict order timing.  The recent subdued nature of our markets, in my view, is solely a timing issue and not related to fundamentals.”

Orders during the fourth quarter of fiscal 2013 were $25.9 million, down 39% from $42.3 million in the fourth quarter of fiscal 2012 which had a surge of orders from the nuclear power and refining markets. When compared with the trailing third quarter of 2013, orders were up 5% from $24.6 million. Compared with the same prior-year period, orders in the fourth quarter from the power market were down by $9.2 million to $4.2 million, orders from the chemical/petrochemical market decreased by 4.5 million to $3.1 million and refining market orders decreased by $4.1 million to $14.8 million. Orders from other industrial and commercial markets during the fourth quarter of fiscal 2013 were up by $1.5 million to $3.8 million when compared with the same prior-year period.

Orders from U.S. customers represented 58%, or $15.0 million, of total orders during the fourth quarter of fiscal 2013, while orders from international markets accounted for $10.9 million of total orders. Graham expects that orders will continue to be variable between quarters, but that in the long-run orders will be relatively balanced between domestic and international markets.

Graham’s backlog was $85.8 million at March 31, 2013 compared with $90.7 million at December 31, 2012 and $94.9 million at March 31, 2012. Approximately 40% of projects in backlog as of the end of the fourth quarter were for refinery projects, 25% were for power projects, including nuclear, and 8% were for chemical and petrochemical projects. All other industries served by Graham accounted for 27% of backlog.

Approximately 75% to 80% of orders currently in backlog are expected to be converted to sales within the next 12 months. Graham had no projects on hold in backlog as of March 31, 2013.

Graham expects sales will be in a range of $100 million to $115 million in fiscal 2014.  Gross margin for fiscal 2014 is expected to be between 29% and 31% as backlog is expected to continue to reflect moderate recovery levels of its end markets. SG&A expense is expected to be between 15% and 16% of sales for fiscal 2014.  Graham expects its fiscal 2014 full year tax rate to be within a range of 33% to 34%.

Webcast and Conference Call

Graham will host a conference call and live webcast today at 11:00 a.m. Eastern Time to review Graham’s financial condition and operating results for its fourth quarter and fiscal 2013, as well as its strategy and outlook. The review will be accompanied by a slide presentation which will be made available immediately prior to the conference call on Graham’s website at www.graham-mfg.com under the heading “Investor Relations.” A question-and-answer session will follow the formal presentation.

Graham’s conference call can be accessed by calling 1-201-689-8560. Alternatively, the webcast can be monitored on Graham’s website at www.graham-mfg.com.

To listen to the archived call, dial 1-858-384-5517, and enter replay pin number 412392. A telephonic replay will be available from approximately 2:00 p.m. Eastern Time on the day of call through Friday, June 7, 2013. A transcript of the call will be placed on Graham’s website, once available.

ABOUT GRAHAM CORPORATION

With world-renowned engineering expertise in vacuum and heat transfer technology, Graham Corporation is a global designer, manufacturer and supplier of custom-engineered ejectors, pumps, condensers, vacuum systems and heat exchangers. For more than 77 years, Graham has built a reputation for top quality, reliable products and high-standards of customer service. Sold either as components or complete system solutions, the principal markets for Graham’s equipment are energy, including oil and gas refining and nuclear and other power generation, chemical/petrochemical and other process industries. In addition, Graham’s equipment can be found in diverse applications, such as metal refining, pulp and paper processing, shipbuilding, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning, and in nuclear power installations, both inside the reactor vessel and outside the containment vessel.

Graham Corporation’s subsidiary Energy Steel & Supply Co. is a leading code fabrication and specialty machining company dedicated exclusively to the nuclear power industry.

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

Safe Harbor Regarding Forward Looking Statements

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

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

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

FINANCIAL TABLES FOLLOW.

EBITDA is defined as consolidated net income before interest expense and income, income taxes, and depreciation and amortization. EBITDA is not a measure determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Graham believes that providing non-GAAP information such as EBITDA is important for investors and other readers of Graham’s financial statements, as it is used as an analytical indicator by Graham’s management to better understand of operating performance. Graham’s credit facility also contains ratios based on EBITDA. Because EBITDA is a non-GAAP measure and is thus susceptible to varying calculations, EBITDA, as presented, may not be directly comparable to other similarly titled measures used by other companies.

CONTACT: Jeffrey F. Glajch, Vice President - Finance and CFO
         Phone: (585) 343-2216
         Email: jglajch@graham-mfg.com

         Deborah K. Pawlowski, Kei Advisors LLC
         Phone: (716) 843-3908
         Email: dpawlowski@keiadvisors.com

Immunomedics (IMMU) Presents Clinical Progress of Antibody-Drug Conjugate Programs

MORRIS PLAINS, N.J., May 30, 2013 (GLOBE NEWSWIRE) — Immunomedics, Inc. (Nasdaq:IMMU), a biopharmaceutical company primarily focused on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases, announced that during the Company’s presentation at the New York Biotechnology Association’s Annual Meeting yesterday, President and CEO, Cynthia L. Sullivan, updated the audience on the progress of the antibody-drug conjugate (ADC) programs.

“Although we have three ADC’s in clinical development, recent results with the two being studied in patients with advanced solid tumors, particularly metastatic colorectal and triple-negative breast cancers, are particularly encouraging,” Ms. Sullivan remarked. She added that “tumor shrinkage, including partial responses determined by RECIST criteria, was achieved in dose-escalation trials of IMMU-130 and IMMU-132 ADC product candidates.”

Both ADC product candidates involve SN-38, the active metabolite of irinotecan (used to treat metastatic colorectal and other solid cancers), conjugated by the Company’s proprietary technology to labetuzumab (anti-CEACAM5 humanized monoclonal antibody; IMMU-130) or the anti-TROP-2 humanized antibody, hRS7 (IMMU-132). Whereas IMMU-130 is being studied in advanced colorectal cancer patients who have failed irinotecan therapy, IMMU-132 is being tested in 13 cancer types, including colorectal, triple-negative breast, bladder, pancreas, prostate, kidney, and ovarian cancers.

“Since we have seen tumor shrinkage, including partial responses, so early in these trials, and that SN-38 bound to two different antibodies has been active, our confidence is increased regarding the future potential of these ADC candidates for treating these major cancer types after they become refractive to conventional chemotherapeutic agents,” Ms. Sullivan stated. “The major toxicities, to date, have been diarrhea and neutropenia, which generally can be alleviated by other medications, and these appear to be less frequent and milder than with irinotecan therapy,” she remarked further.

Ms. Sullivan also stated that the Phase Ib trial of ⁹⁰Y-clivatuzumab tetraxetan in patients with advanced, third-line, pancreatic cancer is reaching completion of follow-up and survival results continue to be analyzed. This trial compared clivatuzumab alone to the combination of clivatuzumab with low-dose gemcitabine in an open-label, randomized trial.

About Immunomedics

Immunomedics is a New Jersey-based biopharmaceutical company primarily focused on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. We have developed a number of advanced proprietary technologies that allow us to create humanized antibodies that can be used either alone in unlabeled or “naked” form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins, in each case to create highly targeted agents. Using these technologies, we have built a pipeline of therapeutic product candidates that utilize several different mechanisms of action. We also have a majority ownership in IBC Pharmaceuticals, Inc., which is developing a novel DOCK-AND-LOCK™ (DNL™) method with us for making fusion proteins and multifunctional antibodies, and a new method of delivering imaging and therapeutic agents selectively to disease, especially different solid cancers (colorectal, lung, pancreas, etc.), by proprietary, antibody-based, pretargeting methods. We believe that our portfolio of intellectual property, which includes approximately 223 active patents in the United States and more than 400 foreign patents, protects our product candidates and technologies. Our strength in intellectual property has resulted in the top-10 ranking in the 2012 IEEE Spectrum Patent Power Scorecards in the Biotechnology and Pharmaceuticals category. For additional information on us, please visit our website at www.immunomedics.com. The information on our website does not, however, form a part of this press release.

This release, in addition to historical information, may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Such statements, including statements regarding clinical trials, out-licensing arrangements (including the timing and amount of contingent payments), forecasts of future operating results, potential collaborations, and capital raising activities, involve significant risks and uncertainties and actual results could differ materially from those expressed or implied herein. Factors that could cause such differences include, but are not limited to, risks associated with any cash payment that the Company might receive in connection with a sublicense involving a third party and UCB, which is not within the Company’s control, new product development (including clinical trials outcome and regulatory requirements/actions), our dependence on our licensing partners for the further development of epratuzumab and veltuzumab for non-cancer indications, competitive risks to marketed products and availability of required financing and other sources of funds on acceptable terms, if at all, as well as the risks discussed in the Company’s filings with the Securities and Exchange Commission. The Company is not under any obligation, and the Company expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Dr. Chau Cheng
         Senior Director, Investor Relations & Grant Management
         (973) 605-8200, extension 123
         ccheng@immunomedics.com

(YRCW) Milton, Pa. New Penn Facility Celebrates 500 Day Major Safety Milestone

LEBANON, Pa., May 30, 2013 /PRNewswire/ —  (NASDAQ: YRCW) — On May 15, 2013 the New Penn Milton, Pa. facility celebrated its 500^th consecutive day without a single lost time injury. This monumental achievement was reached by all employees at the facility across all operations including dock-workers, drivers, office-workers and sales personnel.

“Working safely every day takes practice, determination and focus. I am proud of the employees at Milton, Pa., and their level of commitment. These employees lead our team through their attention to safety and high quality service each and every day,” said Steve Gast, New Penn president. “I was proud to meet each employee and thank them for their superb commitment to safety on that record-breaking day.”

The Milton terminal serves the North Central Pennsylvania region and currently employs 39 professionals. Terminal Manager Ruth Mull commended those individuals on their achievement, and stressed the significance of workplace safety.

“Achieving this record takes everyone’s involvement,” said Ruth. “As a manager or supervisor you can discuss safety every day and make it your top priority . . . but it all comes down to the employees and what they do. The employees make this happen with their work ethics and diligence to work injury-free. I cannot thank our employees enough.”

In addition to the safety commitment and focus of its employees, New Penn officials cite ongoing safety initiatives and training programs for assisting in the success of its many facilities. These initiatives and programs consist of training videos, sophisticated weather and roadway monitoring technologies, regular safety meetings, and more.

About New Penn
New Penn, a regional less-than-truckload motor carrier based in Lebanon, Pa., provides industry-leading reliability and next-day service through a network of 25 service centers in the northeastern United States, Quebec, Canada and Puerto Rico. New Penn is widely regarded as one of the most efficiently operated transportation providers and has one of the lowest claim ratios in the industry. A recipient of the Quest for Quality Awards from Logistics Management magazine for 18 years, New Penn received two performance excellence recognitions in 2012 in the categories of Northeast/Mid-Atlantic Regional LTL Carriers and Expedited Motor Carriers. For more information, visit www.newpenn.com. New Penn is a subsidiary of YRC Worldwide.

Website: www.newpenn.com
Facebook: http://facebook.com/newpenn
Twitter: https://twitter.com/newpenn

Uroplasty (UPI) Reports Fiscal Fourth Quarter And Full Year 2013 Financial Results

~U.S. Sales of Urgent® PC increase 11% in Fourth Quarter and 35% for Full Fiscal Year onference call today at 4:30 p.m. ET

MINNEAPOLIS, May 30, 2013 /PRNewswire/ — Uroplasty, Inc. (NASDAQ: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today reported financial results for the fourth quarter and fiscal year 2013 ended March 31, 2013.

Fiscal Fourth Quarter 2013 Financial Results

Fiscal fourth quarter 2013 sales in the U.S. increased 2%, driven by an 11% increase in sales of the Urgent^® PC Neuromodulation System, compared with fiscal fourth quarter a year ago.  Global sales declined 1% to $5.5 million in the fourth quarter of fiscal 2013, compared with $5.6 million in the fiscal fourth quarter a year ago.

U.S. Urgent PC Sales in the fiscal fourth quarter of 2013 were $2.6 million.  Macroplastique sales in the U.S. totaled $1.4 million in the recent fiscal fourth quarter, a decrease of 13% over the same quarter last year.

The Company sold 3,365 lead set boxes to 581 active Urgent PC customers in the U.S. in the fiscal fourth quarter compared with 3,501 lead set boxes to 620 active customers during the fiscal third quarter.

“While sales of Urgent PC in the U.S. increased year over year, we were disappointed with our progress,” said Rob Kill, Interim Chief Executive Officer of Uroplasty. “We are executing our strategy to reinvigorate and regain the momentum of Urgent PC sales, especially in the U.S.  By mid-May, under our new sales leadership, we had replaced sales representatives in six territories. We are focused on finding sales representatives with experience in medical device sales, a solid understanding of their regional markets and strong relationships with physician groups in their territories. By end of June we expect to have 45 total sales representatives in place.”

Net sales to customers outside the U.S. for the fiscal fourth quarter totaled $1.5 million, compared to $1.6 million in the fiscal fourth quarter last year.  Excluding the impact of fluctuations in foreign currency exchange rates, sales outside the U.S. were down 7%.

The Company reported a gross margin of 86.5% in the recent fiscal fourth quarter compared with 85.9% in the same quarter a year ago.  The operating loss of $968,000 in the fiscal fourth quarter compares with a $589,000 operating loss in the same quarter last year. Excluding non-cash charges for share-based compensation and depreciation and amortization expense, the non-GAAP operating loss was $477,000 in the fourth quarter of fiscal 2013, compared with a $122,000 non-GAAP operating loss in the fourth quarter a year ago.  The increase in operating loss was primarily attributable to the decrease in sales and an increase in operating expenses.

Full Year Fiscal 2013 Financial Results

For the full year ended March 31, 2013, sales grew $1.9 million to $22.4 million, reflecting an 18% increase in U.S. sales and a 10% decrease in sales outside the U.S.  In the U.S., sales of Urgent PC increased 35% to $10.5 million, and Macroplastique sales decreased 2% to $5.7 million.  At March 31, 2013, cash, cash equivalents and investments totaled $14.9 million compared to $15.6 million at December 31, 2012.

R&D Initiatives

The Company continues to make progress on two R&D initiatives – an implantable tibial nerve stimulator for in-home treatments for OAB for the markets outside of the U.S. and an indication for use of Urgent PC to treat bowel incontinence for the U.S. market.  Both products have the potential to expand Uroplasty’s addressable market.

The implantable tibial nerve stimulator will allow patients to receive the benefits of PTNS treatments at home with the patient controlling the treatment interval.  The Company continues to make progress on prototypes for this new product.

The Company has identified two U.S. centers to conduct a pilot clinical trial for the treatment of bowel incontinence using the Urgent PC Neuromodulation System.  The investigators at those centers are currently in the screening process for potential candidates for treatment.  The pilot trial, for the initial treatments, is scheduled for completion late next year.  Urgent PC has CE Mark approval for the treatment of bowel incontinence and has been used in Europe for this indication for several years.

Outlook

“Our focus in the near term will be on driving sales of Urgent PC through additional investments in sales and marketing. We made progress in the quarter in hiring experienced sales reps with strong relationships in their markets and have also revised our sales incentives to be better aligned with our financial objectives.  We are also adding clinical representatives to the team who will focus on working with our customers to expand patient access to Urgent PC.  We anticipate it will take a few months for our new reps to become productive.

“In addition, we have commenced a search for a new CEO.  Working with an outside search firm, we are seeking a senior executive with experience in leading the commercial expansion of new medical device therapies and scaling an organization in the $25 to $200 million range of revenue for sustained top and bottom line growth.  We remain optimistic about the opportunities ahead for Uroplasty through this transition and our ability to return to sales growth and improved operating results during the second half of the fiscal year,” concluded Mr. Kill.

Conference Call

Uroplasty will host a conference call and webcast today at 3:30 pm Central, 4:30 pm Eastern, to review the financial results for the fiscal fourth quarter and full year of 2013.  Rob Kill, Interim Chief Executive Officer, and Medi Jiwani, Vice President, Chief Financial Officer and Treasurer, will host. Individuals wishing to participate in the conference call should dial 888-549-7750. An audio replay will be available for 30 days following the call at 800-406-7325 with the passcode 4618943#.

To access the live webcast of the call, go to Uroplasty’s website at www.uroplasty.com and click on the Investor Relations section. An archived webcast will also be available at http://investor.uroplasty.com.

About Uroplasty, Inc.

Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom, is a global medical company committed to offering transformative treatment options to specialty physicians. Our products are designed to help providers change the lives of their voiding dysfunction patients and strengthen the efficiency of their practices. Our focus is the continued commercialization of our Urgent® PC Neuromodulation System, the only FDA-cleared system that delivers percutaneous tibial nerve stimulation (PTNS) for the office-based treatment of overactive bladder and associated symptoms of urgency, frequency and urge incontinence. We also offer Macroplastique®, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence primarily due to intrinsic sphincter deficiency. For more information on the company and its products, please visit Uroplasty, Inc. at www.uroplasty.com.

Forward-Looking Information

This press release contains forward-looking statements that reflect our best estimates regarding future events and financial performance. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our anticipated results. We discuss in detail the factors that may affect the achievement of our forward-looking statements in our Annual Report on Form 10-K filed with the SEC.  In particular, we cannot be certain that we will ever achieve sustained profitability, that the rate of reimbursement for PTNS treatments will be adequate to justify the cost of our product, that other Medicare carriers or private payers will provide coverage for this treatment or that existing carriers and payers will not change their coverage decisions, that the rate of adoption of our products by new customers will continue, or that any of the other risks identified in our 10-K will not adversely affect our expectations as described in these forward-looking statements.

Non-GAAP Financial Measures:  The following table reconciles our operating loss calculated in accordance with accounting principles generally accepted in the U.S. (GAAP) to non-GAAP financial measures that exclude non-cash charges for share-based compensation, and depreciation and amortization expenses from gross profit, operating expenses and operating loss.  The non-GAAP financial measures used by management and disclosed by us are not a substitute for, or superior to, financial measures and consolidated financial results calculated in accordance with GAAP, and you should carefully evaluate our reconciliations to non-GAAP.  We may calculate our non-GAAP financial measures differently from similarly titled measures used by other companies.  Therefore, our non-GAAP financial measures may not be comparable to those used by other companies.  We have described the reconciliations of each of our non-GAAP financial measures described above to the most directly comparable GAAP financial measures.

We use these non-GAAP financial measures, and in particular non-GAAP operating loss, for internal managerial purposes and incentive compensation for senior management because we believe such measures are one important indicator of the strength and the operating performance of our business.  Analysts and investors frequently ask us for this information.  We believe that they use these measures to evaluate the overall operating performance of companies in our industry, including as a means of comparing period-to-period results and as a means of evaluating our results with those of other companies.

Our non-GAAP operating loss for the three months ended March 31, 2013 and 2012 was approximately $477,000 and $122,000, respectively.  Our non-GAAP operating loss for fiscal 2013 and 2012 was approximately $1.3 million and $2.5 million, respectively.  The fiscal 2013 decrease in non-GAAP operating loss is attributed primarily to an increase in Net sales which more than offset the increase in non-GAAP spending.

President’s Comments At Goldfield’s (GV) Annual Meeting

MELBOURNE, Fla., May 30, 2013 /PRNewswire/ — The Goldfield Corporation (NYSE MKT: GV) today released the comments to be made later today by Mr. John H. Sottile, President and Chief Executive Officer, at The Goldfield Corporation’s annual meeting of stockholders. The Goldfield Corporation headquartered in Florida, through its subsidiary, Southeast Power Corporation, is a leading provider of construction services to electric utilities, with operations primarily in the southeastern, mid-Atlantic, and western regions of the United States.

THE GOLDFIELD CORPORATION

STATEMENT BY JOHN H. SOTTILE

AT ANNUAL MEETING OF SHAREHOLDERS

May 30, 2013

Welcome to the 106^th Annual Shareholders Meeting of the Goldfield Corporation.  I would like to give you a snapshot of the Company’s activities during 2012, discuss recent business, and outline our strategy to continue maximizing shareholder value in the future.  I will be providing some financial specifics but would encourage you to review the more detailed information which can be found in our SEC filings and our Annual Report available on our website at www.goldfieldcorp.com.  After the comments, I would be pleased to entertain questions you may have.

2012 was a record year for Goldfield.  Revenue more than doubled to $81.6 million from $32.8 million in 2011.  Net income grew to $12 million ($0.47 per share) from $874 thousand ($0.03 per share) in the prior year.  These results reflect not only markedly increased demand for services by utilities upgrading and expanding their transmission infrastructure, but also the strengthening of the capability of our electrical construction subsidiary, Southeast Power.

In 2012 Southeast Power more than doubled its investment in plant and equipment necessary to service efficiently our higher level of business over an expanded geographic footprint.  We invested $16.8 million in new capital equipment to support our expanded operations, enhance productivity and improve safety.  I believe that our upgraded equipment and dedicated workforce rival any in the industry.  We are lean and nimble in staffing projects.  We are now seeing the preliminary impact of our strategy to move beyond our historic Florida base into Texas, the Carolinas and Virginia.  Further expansion is planned as projects become available for bid from new customers.

In addition to increased operating income and revenue, we are experiencing strongly improved operating margins.  Operating margins at Southeast Power increased to 24.7% in 2012 compared to 10.8% in 2011.  We expect quarter to quarter fluctuations in operating margins depending on projects under construction at the time.  We believe that improved operating margins have resulted from several factors which promote efficiency: – increased responsibility and accountability of our regional officers; improved market conditions; geographical expansion leading to exposure to a greater number of projects and customers; a revitalized fleet of equipment; and smaller and more flexible crews.

A highlight of 2012 was the selection of Southeast Power to construct a 110 mile 345kV transmission line as part of a Competitive Renewable Energy Zone project in Texas.  This project, scheduled to be energized by the end of August, contributed about 34% of our revenue in 2012 and will impact favorably 2013 results. But, the CREZ project was hardly the whole story for 2012.  Most significantly, our revenue from other projects increased in 2012 by 68% to $53.2 million from $31.7 million in 2011.  Given the continuing strong demand for our services, we believe that we will meet the challenge of replacing the work from the CREZ project.

Southeast Power’s excellent reputation in the industry, together with our expansion, has enabled us to attract strong new leadership.  John Davis took the helm at Southeast Power as President on January 1 this year. Just last month, John White, formerly Senior Vice President of one of the country’s largest electrical construction companies, joined the Southeast Power team with responsibility for new business development.  I could not be more pleased with the efforts of Mr. Davis and Mr. White – both on operational and new business development fronts.

A few comments about first quarter 2013 results:  Revenue increased 27% to $22.5 million from $17.7 million in first quarter 2012.  Operating income grew 8% to $3.0 million from $2.7 million during the same period last year.  First quarter this year operating income was negatively impacted by unanticipated delays on the STEC project.  We believe the conditions which caused such delays have been rectified.   Backlog at March 31, 2013 declined largely because the March 31, 2012 backlog included the entire STEC project of $52 million.  Backlog is not necessarily a reliable indicator of future revenue and is volatile depending on the projects under construction at any point in time, many of which are short term.  Almost daily we are bidding on new projects, some large and some small.  Although we cannot quantify the size or duration of future projects, we are currently seeing opportunities for significant jobs from existing and new customers, some of which should come to fruition later this year.

Industry prospects appear bright.  A recent report by a prominent Industry analyst noted that 77% of the shareholder-owned electric utilities surveyed are projecting increased spending on electric transmission and distribution networks over the next two years.  Transmission continues to benefit from regulatory drivers such as FERC & NERC reliability standards, growth in renewables, and further migration from coal to natural gas power plants. This report supports the strong demand we are seeing for our services.

In short, Goldfield moved to a new level in 2012.  With the strong team we have assembled at Southeast Power and the robust industry environment, I am optimistic that we will continue to move forward.

About Goldfield

Goldfield is a leading provider of electrical construction and maintenance services in the energy infrastructure industry, primarily in the southeastern, mid-Atlantic, and western regions of the United States. The company specializes in installing and maintaining electrical transmission lines for a wide range of electric utilities.

For additional information on our results, please refer to our filings with the Securities and Exchange Commission which can be found on the Company’s website at http://www.goldfieldcorp.com.

This press release includes forward-looking statements within the meaning of the “safe harbor” provision of the Private Securities Litigation Reform Act of 1995 throughout this document.  You can identify these statements by forward-looking words such as “may,” “will,” “expect,” “anticipate,” “believe,” “estimate,” “plan,” and “continue” or similar words. We have based these statements on our current expectations about future events. Although we believe that our expectations reflected in or suggested by our forward-looking statements are reasonable, we cannot assure you that these expectations will be achieved. Our actual results may differ materially from what we currently expect. Factors that may affect the results of our operations include, among others: the level of construction activities by public utilities; the concentration of revenue from a limited number of utility customers; the loss of one or more significant customers; the timing and duration of construction projects for which we are engaged; our ability to estimate accurately with respect to fixed price construction contracts; and heightened competition in the electrical construction field, including intensification of price competition. Other factors that may affect the results of our operations include, among others: adverse weather; natural disasters; effects of climate changes; changes in generally accepted accounting principles; ability to obtain necessary permits from regulatory agencies; our ability to maintain or increase historical revenue and profit margins; general economic conditions, both nationally and in our region; adverse legislation or regulations; availability of skilled construction labor and materials and material increases in labor and material costs; and our ability to obtain additional and/or renew financing.  Other important factors which could cause our actual results to differ materially from the forward-looking statements in this press release are detailed in the Company’s Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operation sections of our Annual Report on Form 10-K and Goldfield’s other filings with the Securities and Exchange Commission, which are available on Goldfield’s website: http://www.goldfieldcorp.com.  We may not update these forward-looking statements, even in the event that our situation changes in the future, except as required by law.

For further information, please contact:

The Goldfield Corporation
Phone: (321) 724-1700
Email:  investorrelations@goldfieldcorp.com

Crest Financial Urges Clearwire (CLWR) Board to Recommend AGAINST Sprint Merger

Sends letter to Clearwire Board calling DISH’s offer “clearly superior” to Sprint’s and urging the Clearwire Board to pursue a competitive bidding process

HOUSTON, May 30, 2013 /PRNewswire-USNewswire/ — Crest Financial Limited, the largest of the independent minority stockholders of Clearwire Corporation (NASDAQ: CLWR), today urged the Clearwire Board of Directors to reverse its recommendation on the Sprint-Clearwire merger following DISH Network Corporation’s $4.40 per share tender offer announced last night and to pursue an “open and competitive bidding process” for Clearwire.  Crest also urged the Board immediately to “reconstitute the Special Committee with newly appointed, truly independent directors and empower the Special Committee with the full authority of the Board to evaluate the DISH offer and any other offer for the Company that may be made after the Board conducts a fair and transparent process that encourages these offers, and to make decisions about interim financing.”

According to David K. Schumacher, Crest’s General Counsel, “The Board has a fiduciary obligation to give full consideration to DISH’s offer, which is clearly actionable, and any other eventual offers that would trump the DISH offer.  DISH’s offer for Clearwire confirms what Crest and others have been saying for months:  Clearwire is the crown jewel, and the Company can realize its true value only through a competitive bidding process.  DISH has initiated that process, and it is your legal obligation to pursue DISH’s offer and other potential offers now.”

Schumacher added:  “The Board must encourage Clearwire’s stockholders to reject Sprint’s latest bid at tomorrow’s special meeting.  Perhaps the only favorable term in the otherwise oppressive merger agreement with Sprint is the provision that you can change your recommendation and advise the stockholders to vote AGAINST the deal without paying a termination fee. You should exercise that option now. After the Clearwire stockholders accept your revised recommendation and vote AGAINST the Sprint offer, the Clearwire Board can terminate the unfair Sprint merger agreement, consider DISH’s offer, and solicit direct bids from others.  Clearwire can pursue this course with the assurance that it will be able to continue operations during the competitive bidding process because Crest stands by its offer to provide the Company with $240.0 million in convertible financing, and is even willing to improve the exchange ratio to $2.50 per share (from the previous ratio of $2.00 per share) to match DISH’s proposed financing terms.”

Crest’s letter also notes:  “Of course, although superior to Sprint’s current offer, DISH’s offer may turn out still to be inadequate for Clearwire’s stockholders.  As we have said repeatedly, the battle for Clearwire is just beginning.  To ensure that this ensuing battle redounds to the benefit of all Clearwire stockholders, the Board must create an open and transparent process whereby all interested parties can make offers to Clearwire’s stockholders.  Only through such a competitive bidding process can all Clearwire stockholders reap the full value of their shares.”

Schumacher stated: “Throughout the process thus far, we believe the Special Committee has been feckless and Clearwire’s directors have failed to account for the best interests of minority stockholders.  The time has come for that to end.  We hereby request that you appoint a wholly new and truly independent Special Committee made up of newly appointed directors.   Such a reconstitution would ensure completely fresh perspectives, and a Special Committee unencumbered by the past defaults and misjudgments of the current Special Committee—most obviously the flawed recommendations that stockholders accept clearly inadequate Sprint bids at $2.97 and $3.40 per share.   The newly reconstituted Special Committee should be delegated all the powers of the Board, including decisions regarding interim financing, and specifically directed to run a fair and transparent process and evaluate all offers accordingly.  We would welcome minority shareholder input on candidates to be considered for the Special Committee.”

The letter to the Clearwire Board concludes:  “In order to consider DISH’s offer and any other offer that may be forthcoming through a competitive bidding process, the Board must recommend against the Sprint merger at tomorrow’s stockholders meeting, allow the stockholders to vote AGAINST the Sprint offer, and then terminate the merger agreement to break free from Sprint’s oppressive control.  Sprint obtained majority control through the Eagle River transaction, and then secured veto power over alternative transactions and financing proposals through the unfair merger agreement.  Sprint has abused its controlling position, wielding it as a cudgel against fair dealing for minority stockholders.  The Board must not permit those abuses to continue.  Once released from Sprint’s oppressive control following the stockholders’ rejection of the Sprint offer tomorrow, the Company will be free to pursue DISH’s offer or competing bids and thus to realize the true value of Clearwire for all stockholders—not just its controlling stockholder Sprint.”

D.F. King & Co, Inc. has been retained by Crest to assist it in the solicitation of proxies in opposition to the merger. If stockholder have any questions or need assistance in voting the GOLD proxy card, please call D.F. King & Co. at (800) 949-2583. The full letter to the Clearwire Board can be found at http://www.dfking.com/clwr or http://www.bancroftpllc.com/crest.

About Crest Financial Limited
Crest Financial Limited (“Crest“) is a limited partnership under the laws of the State of Texas. Its principal business is investing in securities.

Important Legal Information
In connection with the proposed merger of Clearwire Corporation (“Clearwire“) with Sprint Nextel Corporation (the “Proposed Sprint Merger“), Crest and other persons (the “Participants“) have filed a supplement to its definitive proxy statement with the U.S. Securities and Exchange Commission (“SEC“). The definitive proxy statement and the supplement have been mailed to the stockholders of Clearwire. SECURITYHOLDERS OF CLEARWIRE ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND THE SUPPLEMENT, WHICH ARE AVAILABLE NOW, AND THE PARTICIPANTS’ OTHER PROXY MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING ADDITIONAL INFORMATION RELATED TO THE PARTICIPANTS, CLEARWIRE AND THE PROPOSED SPRINT MERGER. The definitive proxy statement, the supplement and all other proxy materials filed with the SEC are available at no charge on the SEC’s website at http://www.sec.gov.  In addition, the definitive proxy statement and the supplement are also available at no charge on the website of the Participants’ proxy solicitor at http://www.dfking.com/clwr.

Forward-looking Statements
Certain statements contained herein are forward-looking statements including, but not limited to, statements that are predications of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties. Forward-looking statements are not guarantees of future activities and are subject to many risks and uncertainties. Due to such risks and uncertainties, actual events may differ materially from those reflected or contemplated in such forward-looking statements. Forward-looking statements can be identified by the use of the future tense or other forward-looking words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “should,” “may,” “will,” believes,” “continue,” “strategy,” “position” or the negative of those terms or other variations of them or by comparable terminology.

The Fresh Market, Inc. (TFM) Reports First Quarter 2013 Earnings

– Earnings Per Diluted Share Increased 14.6% to $0.46

– Net Sales Increased 12.9%

– Comparable Store Sales Increased 3.0%

GREENSBORO, N.C., May 29, 2013 (GLOBE NEWSWIRE) — The Fresh Market, Inc. (Nasdaq:TFM), a high-growth specialty retailer, today announced unaudited sales and earnings results for its first quarter ended April 28, 2013.

Financial Overview

In the first quarter of fiscal 2013, net sales increased 12.9% to $366.6 million and comparable store sales increased 3.0%, compared to the corresponding thirteen week period ended April 29, 2012. Net income in the first quarter of fiscal 2013 was $22.1 million, compared to $19.3 million in the corresponding thirteen week period in fiscal 2012. Diluted earnings per share in the first quarter of fiscal 2013 were $0.46, an increase of 14.6% over diluted earnings per share of $0.40 for the corresponding thirteen week period in fiscal 2012.

Craig Carlock, President and Chief Executive Officer commented, “We were pleased to see our business and customer traffic improve in the first quarter. New store development remains on track and our solid results give us confidence as we assess customer behavior and our outlook for the balance of the year.”

Operating Performance

First quarter total net sales increased 12.9% to $366.6 million and comparable store sales increased 3.0% to $312.9 million, compared to the corresponding thirteen week period in fiscal 2012. The first quarter comparable store sales increase resulted from a 2.4% increase in average transaction size and a 0.6% increase in the number of transactions.

The Company’s gross profit increased 14.8%, or $16.6 million, to $129.3 million in the first quarter of fiscal 2013, compared to the corresponding thirteen week period of fiscal 2012. For the same period, the gross margin rate increased 60 basis points to 35.3% compared to the corresponding prior year period. This increase in the Company’s gross margin rate was primarily attributable to an increase in the merchandise margin, and also reflected a 10 basis point reduction in LIFO expense as a percentage of sales.

Selling, general, and administrative expenses for the first quarter of fiscal 2013 increased $11.0 million to $81.5 million, compared to the corresponding thirteen week period in fiscal 2012. Selling, general, and administrative expenses as a percentage of sales increased by 50 basis points to 22.2% for the period, compared to 21.7% for the corresponding thirteen week period in fiscal 2012. This increase in the selling, general and administrative expense rate was primarily attributable to employee healthcare claim costs. The Company also incurred higher expenses associated with an additional layer of annual share based compensation. In the first quarter of 2013, the Company opened two new stores compared to three new stores in the corresponding prior year period.

Operating income increased $4.3 million to $35.4 million for the first quarter of fiscal 2013, compared to $31.1 million for the corresponding thirteen week period of fiscal 2012. Operating income as a percentage of sales for the first quarter of fiscal 2013 increased 10 basis points to 9.7%, compared to 9.6% for the corresponding period of fiscal 2012. This increase was primarily attributable to an improvement in gross margin rate.

The effective tax rate for the first quarter of fiscal 2013 was 37.1% of pre-tax income and compares to 37.3% for the corresponding thirteen week period of fiscal 2012. The lower rate was due to various state and federal tax credit opportunities.

Balance Sheet/Cash Flow

During the first quarter of fiscal 2013, the Company generated $45.9 million in cash flow from operations and invested $17.2 million in capital expenditures, of which $13.7 million related to new and remodeled stores.

The Company’s cash balance as of April 28, 2013 was approximately $11.0 million. Total debt as of April 28, 2013 decreased 64.3%, or $27.0 million, to $15.0 million from a balance of $42.0 million as of January 27, 2013.

Average inventory on a FIFO basis per store at the end of the first quarter of fiscal 2013 increased 5.5%, compared to the corresponding period in fiscal 2012. The increase resulted from inventory investments in faster growing categories and new product assortments to support the Company’s overall sales growth. Commodity costs also increased in certain departments, such as produce, meat and dairy.

On a trailing four quarter basis for the period ended April 28, 2013, the Company’s return on assets was 18.4%, return on invested capital, excluding excess cash, was 25.6%, and return on equity was 30.2%. These financial return measures are non-GAAP financial measures. The schedules attached to this press release include a discussion of these non-GAAP measures, as well as the details of our calculations of these financial return measures.

Growth and Development

During the first quarter of fiscal 2013, the Company opened two new stores in Charlottesville, Virginia and Aiken, South Carolina. As of April 28, 2013, the Company operated 131 stores in 25 states.

The following table provides additional information about the Company’s real estate and store opening activities through the first quarter of fiscal 2013. Leases signed as of May 29, 2013 are for stores expected to open during or after fiscal 2013.

Note 1: Includes leases for stores expected to open after May 29, 2013 and such leases typically include customary leasing conditions. In general, we do not announce the location of a new store until all conditions to the lease are satisfied or our involvement in the property or project will be made public in connection with governmental permitting or approvals or in dealing with other third-parties. We generally identify a store as “coming soon” when we take possession of the property and commence our construction related activities. The Company’s website sets forth the most current list of announced lease locations and stores that are “coming soon.”

Note 2: Net of capital contributions, if any, received from landlords, and including building costs but excluding cost of land for owned stores. Lease inducement costs and similar prepayments in connection with acquiring or entering into new leases are not included in the capital cost per store and are included as a long-term asset and expensed over the primary term of the lease.

Fiscal 2013 Outlook

In addressing guidance, Carlock commented, “Our customers are responding well to the current economic climate, which gives us incremental comfort with our full-year outlook for fiscal 2013. We now anticipate comparable store sales to rise 2.5% to 4.5% this fiscal year.”

For fiscal 2013, management expects the Company to:

• Open 19 to 22 new stores, with 4 to 6 new stores opening in the second quarter and 13 to 15 new stores opening in the second half of the year
• Remodel 3 to 5 stores and have no relocations
• Spend approximately $130 million to $150 million in capital expenditures, primarily related to real estate investments
• Increase comparable store sales 2.5% to 4.5%
• Achieve flat to modest growth in operating margin as a percentage of sales, as the Company continues to make operating expense investments related to its accelerated growth plans
• Generate diluted earnings per share of $1.51 to $1.58, assuming an effective tax rate of 37.0%, where earnings per share in the second half of fiscal 2013 exceed earnings per share in the first half of the year

2013 First Quarter Earnings Conference Call

The Company will host a conference call today at 9:00 a.m. Eastern Time. During the conference call, the Company may answer questions concerning its business. The Company’s responses to these questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been previously disclosed.

The call will be broadcast via a live audio webcast at www.thefreshmarket.com, within the Investor Relations section of the Company website, and a recording will be available for 30 days following the date of the event. Investors and analysts interested in participating on the call may do so by dialing (877) 852-2928.

About The Fresh Market, Inc.

Founded in 1982, The Fresh Market, Inc. is a specialty grocery retailer focused on providing high-quality products in a unique and inviting atmosphere with a high level of customer service. As of May 29, 2013, the Company operates 131 stores in 25 states across the United States.  For more information, please visit www.thefreshmarket.com.

Forward Looking Statements: This document contains forward-looking statements that reflect our plans, estimates, and beliefs regarding future business and financial performance and financial condition, and include those in the “Fiscal 2013 Outlook” section above. These statements involve a number of risks and uncertainties. Any statements contained herein (including, but not limited to, statements to the effect that The Fresh Market or its management “anticipates,” “plans,” “estimates,” “expects,” “believes,” and other similar expressions) that are not statements of historical fact should be considered forward-looking statements. The following are some of the factors that could cause or contribute actual future results to differ materially from those expressed in any forward-looking statements: accounting entries and adjustments at the close of our fiscal quarter; unexpected expenses and risks associated with our business; our ability to remain competitive in the areas of merchandise quality, price, breadth of selection, customer service and convenience; the effective management of our merchandise buying and inventory levels; the quality and safety of food products and other items that we may sell; our ability to anticipate and/or react to changes in customer demand; changes in economic and financial conditions, including the outcome of negotiations surrounding U.S. fiscal policy which, even if resolved, may be adverse due to tax increases and spending cuts, and the resulting impact on consumer confidence; other changes in consumer confidence and spending; unexpected consumer responses to promotional programs; unusual, unpredictable and/or severe weather conditions including their effect on our supply chain and our store operations; the effectiveness of our logistics and supply chain model, including the ability of our third-party logistics providers to meet our product demands and restocking needs on a cost competitive basis; the execution and management of our store growth, including the availability and cost of acceptable real estate locations for new store openings, the capital that we utilize in connection with new store development and the anticipated time between lease execution and store opening; the mix of our new store openings as between build to suit sites and second-generation, as-is sites; the actions of third parties involved in our store growth activities, including property owners, landlords, property managers, contractors, subcontractors, government agencies, and current tenants who occupy one or more of our proposed new store locations, all of whom may be impacted by their financial condition, their lenders, their activities outside of those focused on our new store growth and other tenants, customers and business partners of theirs; global economies and credit and financial markets; our ability to maintain the security of electronic and other confidential information; serious disruptions and catastrophic events; competition; personnel recruitment and retention; acquisitions and divestitures including the ability to integrate successfully any such acquisitions; information systems and technology; commodity, energy, fuel, and other cost increases; compliance with laws, regulations and orders; changes in laws and regulations; outcomes of litigation and proceedings and the availability of insurance, indemnification, and other third-party coverage of any losses suffered in connection therewith; tax matters; numerous other matters of national, regional and global scale, including those of a political, economic, business, and competitive nature; and other factors as set forth from time to time in our filings with the Securities and Exchange Commission. Any forward-looking statement, including any contained herein, speaks only as of the time of this release and we do not undertake to update or revise them as more information becomes available or to disclose any facts, events or circumstances after the date of this release that may affect the accuracy of any forward looking statement.

This press release, and access to our earnings call, is also available in the Investor Relations portion of The Fresh Market, Inc. website (http://ir.thefreshmarket.com/).

CONTACT: Investor Relations
         (336) 615-8065
         investorrelations@thefreshmarket.com

Pixelworks (PXLW) to Demonstrate Enhanced Mobility for Projectors at InfoComm

Pixelworks, Inc. (NASDAQ: PXLW), a pioneer in innovative video and display processing technology, today announced that its latest innovations for the projector market will be on display at InfoComm 2013. The company plans to demo new software and feature standards for projectors that not only enhance the projected viewing experience, but also significantly improve collaboration and mobility, as well.

One of the most important advancements the company will be demonstrating is VueMagic. VueMagic enables mobile platforms to connect projectors and displays via a standard WiFi connection to share content for display and collaboration. It is OS independent and requires no additional or special hardware in the mobile device. This provides advanced connectivity and control functions to all types of mobile devices, regardless of manufacturer or age. Presenters and audiences can capture notes, audio recordings, collaborate and much more. For additional information about VueMagic Mobile Presenter, please visit http://pwPresenter.pixelworks.com.

“We’re very much looking forward to showing off our technology at InfoComm,” said Graham Loveridge, Sr. Vice President of Marketing at Pixelworks. “Quite frankly, we’ve been working hard implementing our new technology across all our markets—UHD TVs, projectors and mobile—and now it’s time to display the results.”

To obtain an invitation to the Pixelworks suite at InfoComm, or for additional information about Pixelworks’ products, including the company’s newest connectivity enhancements for projectors, or video display processors, please contact your local Pixelworks office (http://www.pixelworks.com/locations.php).

About Pixelworks, Inc.

Pixelworks creates, develops and markets video display processing technology for digital video applications that demand the very highest quality images. At design centers around the world, Pixelworks engineers constantly push video performance to keep manufacturers of consumer electronics and professional displays worldwide on the leading edge. The company is headquartered in San Jose, CA.

For more information, please visit the company’s Web site at www.pixelworks.com.

Note: Pixelworks, the Pixelworks logo and VueMagic are registered trademarks of Pixelworks, Inc.

Mitek (MITK) Receives Patent for Signature Verification and Fraud Detection

15th Patent Quantifies the Mathematics of Signature Validation

SAN DIEGO, May 29, 2013 (GLOBE NEWSWIRE) — Mitek (Nasdaq:MITK) (www.miteksystems.com), a leading mobile imaging software solutions provider, today announced that it has been issued U.S. Patent No. 8,452,098, “Methods for Applying a Signature Simplicity Analysis for Improving the Accuracy of Signature Validation,” by the U.S. Patent and Trademark Office. This patent describes the process for measuring signature simplicity, and using it to detect fraud. Mitek now has 15 U.S. and international patents issued and 24 patent applications pending in the U.S. and Canada.

Detecting user fraud in the mobile channel is a high priority for financial institutions, especially as consumers demand an increasing array of services on their mobile devices such as paying bills, depositing checks and more. When someone signs a check or other document, their signature is a unique and valuable tool for user verification and fraud detection. Some signatures are clearly presented, while others are an illegible scribble, but both are as individual as a fingerprint and can be used to identify fraudulent activity.

Mitek’s newly-patented method measures signature “simplicity”, the inherent mathematical simplicity of strokes used to create a signature. This allows Mitek to identify patterns of signature style, a key method which recognizes attempts at forgery. A “simplicity” score is used to adjust Mitek’s signature validation on-the-fly thus preventing fraudulent signatures from being accepted. For example, if someone tries to forge a complex signature (signature with lots of pen movements) with a relatively simple one, Mitek’s technology is able to evaluate the simplicity of both versions, compare them, and identify fraudulent patterns.

“Over the past three decades, Mitek has invested in building innovative technologies related to mobile imaging that solve complex business problems with the snap of a mobile device camera,” said Mitek CTO, Michael Strange. “The newest patent reinforces our commitment to creating solutions that leverage intelligent mobile image capture technology for the benefit of our customers and end-users.”

Mitek’s portfolio of mobile imaging solutions include: Mobile Deposit®, Mobile Photo Bill Pay™, Mobile Photo Quoting™ and more. These solutions enable consumers to easily and securely conduct transactions such as depositing a check, paying a bill and getting an insurance quote with a smartphone or tablet camera.

About Mitek

Headquartered in San Diego, CA., Mitek (Nasdaq:MITK) is a mobile imaging software solutions provider that allows users to remotely deposit checks, pay their bills, get insurance quotes, and transfer credit card balances by snapping a picture with their camera-equipped smartphones and tablets instead of using the device keyboard. Mitek’s technology increases convenience for the consumer by eliminating the need to go to the bank branch or automated teller machine, and dramatically reduces processing and customer acquisition costs while increasing customer retention. With a strong patent portfolio, Mitek is positioned as the leading innovator in mobile imaging software and currently provides its solutions to Fortune 500 financial services companies. For more information about Mitek, please visit http://www.miteksystems.com.

Connect with us on Facebook: http://www.facebook.com/MitekSystems

Follow us on Twitter: @miteksystems

See us on YouTube: http://www.youtube.com/miteksystems

Read our latest blog post: http://www.miteksystems.com/blog

CONTACT: Mitek Contacts:
         Ann Reichert
         Director of Marketing
         pr@miteksystems.com

         Sarah Schulz
         Mix Public Relations
         pr@mix-pr.com

Service Corp. (SCI) To Acquire Stewart Enterprises, Inc.

Jameson Stanford Resources (JMSN) Announces Completion of Reverse Merger

LAS VEGAS, NV — (Marketwired) — 05/29/13 — Jameson Stanford Resources Corp. (OTCBB: JMSN) (the “Company”), a metals and minerals exploration, development and production company, today announced that it has completed its reverse merger. The Company is now a fully reporting public company with its shares quoted on the Over The Counter Bulletin Board under the symbol JMSN.

“This is a very proud day and the completion of this reverse merger represents a critical step in the execution of our company’s business model,” said Michael Stanford, President and CEO of Jameson Stanford Resources. “We are building what we believe will soon be recognized as the premier supplier of metal ore, mineral products and metallurgical services to regional customers.”

Jameson Stanford Resources, based in Utah, is currently developing three different areas in the foothills outside of Salt Lake City. Each of the three projects represents a very credible opportunity for the extraction and sale of high quality ores and precious metals. Further details will be provided via a separate press release in the very near future.

About Jameson Stanford Resources Corp.

Jameson Stanford Resources is focused on developing significant mining claims, mineral leases and excavation rights for projects located in historic mining districts and other sites in central and southwestern Utah. The Company is presently engaged in exploration and development activities in connection with two high-grade copper, gold, silver and base metals properties located in historic mining districts in Beaver County and Juab County, Utah. In addition, Jameson Stanford Resources has acquired excavation rights and special permitting related to deposits of alluvial minerals and silica sand located in Weber County, Utah.

Safe Harbor Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors and other risks, including those set forth in the Company’s Form 10-K filed with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and the Company undertakes no obligation to update such statements.

Contact:

Jameson Stanford Resources Corp.
Las Vegas, NV
www.JamesonStanford.com
702-933-0808
IR@JamesonStanford.com

Mission Investor Relations
Atlanta, GA
www.MissionIR.com
404-941-8975
Investors@MissionIR.com

BG Medicine (BGMD) Announces New Data on Test in Heart Failure

European Society of Cardiology Heart Failure Congress Features 15 Presentations and Two Symposia on Galectin-3

WALTHAM, Mass., May 28, 2013 (GLOBE NEWSWIRE) — BG Medicine, Inc. (Nasdaq:BGMD) today announced the presentation of new clinical research data on the BGM Galectin-3® test in heart disease at the 2013 European Society of Cardiology Heart Failure Congress (ESC-HF) in Lisbon, Portugal. Among the highlights was a late-breaking oral presentation of results from the Aldo-DHF Biomarker Substudy which demonstrated the usefulness of galectin-3 testing for assessing functional capacity and clinical prognosis in patients diagnosed with a form of heart failure known as Heart Failure with Preserved Ejection Fraction (HFpEF).ⁱ Heart Failure with Preserved Ejection Fraction is the fastest growing type of clinical heart failure in the United States and Europe, disproportionately affecting women and accounting for one-third to one-half of all hospital admissions for heart failure.ⁱⁱ

The Aldo-DHF study findings were presented by Dr. Frank Edelmann of the Department of Cardiology and Pneumology and the German Center for Cardiovascular Research at the University of Göttingen. The title of Dr. Edelmann’s late-breaking special sessions oral presentation was Galectin-3 Reflects Functional Capacity and Clinical Outcome in Heart Failure with Preserved Ejection Fraction (The Aldo-DHF Biomarker Substudy.)

“Galectin-3 has the potential to be a valuable test in clinical risk stratification for heart failure patients. In this study of 422 patients with diagnosed HFpEF, elevated galectin-3 levels, and particularly changes in galectin-3 over time, were statistically predictive of subsequent hospitalizations and mortality,” commented Dr. Edelmann.

“The data presented at ESC-HF further demonstrate that galectin-3 may be an important determinant of heart failure risk across the clinical spectrum of disease,” stated Paul Sohmer, President and CEO of BG Medicine. “Unplanned hospitalizations of patients with heart failure are a major cost burden on healthcare systems, particularly among patients with a diagnosis of HFpEF, one of the fastest growing but most difficult types of heart failure to identify and treat. The data presented at ESC-HF suggest that galectin-3 testing may help to identify HFpEF patients who are at risk of near-term adverse events.”

In addition to the presentation of the Aldo-DHF Biomarker Substudy, other research on galectin-3 in heart disease presented at the ESC-HF meeting included:

– Reduction in 30 Day Death and Heart Failure Rehospitalization with Mineralocorticoid Receptor Antagonists: An Analysis from the COACH Study, A. Maisel (San Diego, US), et. al.

– Late-breaking Research Abstract Presentation

– Galectin-3 in Heart Failure with Preserved Versus Reduced Ejection Fraction, R. Santhanakrishnan (Singapore), et al.

– Abstract P-1737

– Elevated Plasma Galectin-3 Levels Correlate with Echocardiographic Parameters of Diastolic Dysfunction in Patients with Stable Heart Failure with Preserved Ejection Fraction (HFpEF), B. Munoz Calvo (Alcalá de Henares, Spain), et al. 

– Abstract P-1301

– Galectin-3, Soluble ST-2 Protein and Echocardiographic Parameters in Clinically Stable Dilated Cardiomyopathy Patients, C.A. Wojciechowska (Zabrze, Poland), et al.

– Abstract P-595

In addition to the presentations of original research, two conference satellite symposia were also held at ESC-HF: “Biomarker-guided Therapy in Heart Failure– Role of Galectin-3”, and “Reducing Hospital Readmissions for Heart Failure– Can Galectin-3 Help?”

About BGM Galectin-3 Testing

Galectin-3 has been implicated in a variety of biological processes important in the development and progression of heart failure. Higher levels of galectin-3 are associated with a more aggressive form of heart failure, which may make identification of high-risk patients using galectin-3 testing an important part of patient care. Galectin-3 testing may be useful in helping physicians determine which patients are at higher risk of death or hospitalization, including 30-day readmission. www.galectin-3.com

About BG Medicine, Inc.

BG Medicine, Inc. (Nasdaq:BGMD) is a diagnostics company focused on the development and commercialization of novel cardiovascular tests to address significant unmet medical needs, improve patient outcomes and reduce healthcare costs. For additional information about BG Medicine, heart failure and galectin-3 testing, please visit www.bg-medicine.com and www.galectin-3.com.

The BG Medicine Inc. logo is available for download here

Forward Looking Statements

Certain statements made in this news release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other comparable terms. Forward-looking statements in this news release address our belief in the usefulness of galectin-3 testing for assessing functional capacity and clinical prognosis in patients diagnosed with HFpEF; our belief that HFpEF is the fast growing type of clinical heart failure in the United States and Europe and one of the most difficult types of heart failure to identify and treat; our belief in the usefulness of galectin-3 testing in helping physicians identify which patients are at higher risk of death, hospitalization or readmission; our belief in the ability of elevated galectin-3 levels and changes in galectin-3 over time to predict subsequent hospitalization and mortality; our belief that galectin-3 testing can help clinicians customize treatment to improve patient management for HFpEF patients; our belief that identification of high-risk patients using galectin-3 testing may become an important part of patient care; our belief that unplanned hospitalizations of patients with heart failure are a major cost burden on healthcare systems, particularly among HFpEF patients; and our belief in the importance of repeated testing of galectin-3 for monitoring disease progression and risk stratification. Forward-looking statements are based on management’s current expectations and involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our recent filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

ⁱ Fonarow GC, Stough WG, et al. Characteristics, treatments, and outcomes of patients with preserved systolic function hospitalized for heart failure: a report from the OPTIMIZE-HF Registry. J Am Coll Cardiol. 2007 Aug 21;50(8):768-77.

ⁱⁱ Gurwitz JH, Magid DJ, et al. Contemporary prevalence and correlates of incident heart failure with preserved ejection fraction. Am J Med. 2013 May;126(5):393-400.

CONTACT: Media Contact:
         Douglas MacDougall, MacDougall Biomedical Communications
         (781) 235-3060

         Investor Contact:
         Chuck Abdalian, EVP & Chief Financial Officer
         (781) 434-0210

Ocean Bio-Chem’s (OBCI) CEO, Peter Dornau Interview

FORT LAUDERDALE, Fla., May 28, 2013 /PRNewswire/ — Ocean Bio-Chem, Inc. (NASDAQ: OBCI), a leading manufacturer and distributor of appearance, performance, and maintenance products serving the marine, automotive, power sports, recreational vehicle and outdoor power equipment markets, is pleased to announce that its Chairman and CEO, Peter Dornau, was recently interviewed by CEOLive.TV.

The entire interview is available on YouTube at http://ceolive.tv/ocean-bio-chem/obci-videos/1182-ceolive-investor-insight-series-mr-peter-dornau-ceo-of-ocean-bio-chem-obci .  In the interview, Mr. Dornau explains the Company’s achievements, the unique quality of its products,  growth opportunities and business strategy.

Mr. Dornau focused in the interview on the growth opportunities  Ocean Bio-Chem’s has with its’ recently EPA approved new product, “Xtrem-A-Cide P®, which utilizes Ocean Bio-Chem’s patented technology to generate a chlorine dioxide solution which can be applied as a deep-penetrating spray for easy application for surface eradication of Staphylococcus aureus (MRSA), salmonella, HIV1, Hepatitis A, Herpes Simplex-2, Influenza-A, Rhinovirus Type 37, E-Coli and many other germs, viruses and fungi.

Mr. Dornau explained there is a tremendous market for this new product, from home use to hospitals, cruise ships, hotels and other hospitality facilities, gyms, rest rooms, arenas, food processing operations and schools.

He said the product has the potential to dwarf the current $31 million in annual sales of Ocean Bio-Chem products.  Mr. Dornau explained there is a huge need for a product such as this as nothing in the current market is as effective.

CEOLIVE.TV also has posted a Corporate Profile on the Company at  http://ceolive.tv/ocean-bio-chem .

About Ocean Bio-Chem, Inc.:
Ocean Bio-Chem, Inc. is principally engaged in the manufacturing, marketing and distribution of a broad line of appearance and maintenance products for boats, recreational vehicles, automobiles, power sports, outdoor power equipment and motorcycle markets under the Star brite® StarTron® and other trademarks within the United States of America and Canada. In addition, the Company produces private label formulations of many of its products for various customers and provides custom blending and packaging services for these and other products.

The Company trades publicly under NASDAQ Capital Markets, Ticker Symbol: OBCI.

The Company’s web sites are: www.oceanbiochem.com, www.starbrite.com and www.startron.com and nos-guard.com

About CEOLIVE.TV:

CEOLIVE is an investor media provider featuring publicly traded companies. Presentations address topics related to the company’s business performance and strategy but are not intended to provide the first announcement of material information or developments. They will discuss matters announced through other channels or that are not themselves considered material information under securities laws, even though the matters may be important to shareholders. To find out more, please visit: http://www.ceolive.tv.

Contact:

Peter Dornau
CEO and President
pdornau@starbrite.com
954-587-6280

Jeff Barocas
Vice President & CFO
Jbarocas@starbrite.com
954-587-6280

Paul Knopick
E & E Communications
pknopick@eandecommunications.com
940.262.3584

Sinovac (SVA) Reports Unaudited First Quarter 2013 Financial Results

-Conference call scheduled for Tuesday, May 28, 2013 at 8:00 AM EDT –

BEIJING, May 28, 2013 /PRNewswire/ — Sinovac Biotech Ltd. (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, announced today its unaudited first quarter financial results for the period ended March 31, 2013.

First Quarter 2013 Financial Highlights (Year-over-year comparisons to first quarter 2012)

• Total sales increased by 68% to $10.1 million.
• Gross profit increased by 90% to $7.1 million and gross profit margin percentage increased to 70% from 62%.
• Net loss attributable to common stockholders was $2.0 million, or $0.04 per basic and diluted share, compared to a net loss of $5.6 million, or $0.10 per basic and diluted share, for the first quarter 2012.
• Cash and cash equivalents totaled $91.6 million as of March 31, 2013, compared to $91.2 million as of December 31, 2012.

Business Highlight:

• In January 2013, Sinovac completed a pre-clinical study for its varicella vaccine candidate and submitted an application to the China Food and Drug Administration (CFDA) to commence clinical trials.
• In April, Sinovac Biotech Co., Ltd. or Sinovac Beijing, the main operating subsidiary company of Sinovac, obtained a certificate of Good Manufacturing Practices for Pharmaceutical Products (GMP certificate) from the China Food and Drug Administration (CFDA) for its proprietary vaccines, its Haidian bulk production plants, and its Changping filing and packaging facility. The GMP certificate covers Sinovac Beijing’s vaccines commercialized in China and approved for stockpiling, inclusive of the inactivated hepatitis A vaccine (human diploid cell)； Inactivated hepatitis A and B combined vaccine; influenza vaccine (split virion), inactivated; H5N1 pandemic influenza vaccine (inactivated, adjuvanted); pandemic influenza vaccine (split virion, adjuvanted); and H1N1 influenza A vaccine (split virion, inactivated). The GMP certificate is valid for five years expiring on April 17, 2018.

Dr. Weidong Yin, Chairman, President and CEO, commented, “I am very pleased with the sales performance of our hepatitis A vaccine in the first quarter 2013, which is the primary driver to the total sales growth of 68% year-over-year.  In the first quarter, the mumps vaccine manufactured by our Dalian site was commercialized, which also contributed to the sales growth in the first quarter.”

Dr. Yin continued, “As our commercialized vaccines keep growing, our near-term pipeline product, the enterovirus 71 (EV71) vaccine, realized another significant milestone. Enterovirus 71 (EV71) vaccine remains to be a significant unmet medical need across China and Asia because of the widespread outbreaks of hand, foot and mouth disease (HFMD) caused by EV71 and significant pediatric mortality rates. In 2012, over 2 million cased were reported and over 500 fatal cased published by China National Health and Family Planning Commission ( or “NHFPC”, previously named China Ministry of Health). We announced the approximately 95% efficacy rate of our proprietary EV71 vaccine from the phase III clinical trial on this vaccine. Based on the study results, our EV71 vaccine candidate has a good safety, immunogenicity and efficacy profile. The next step is to file the new drug application to Beijing Drug Administration in order to apply for the new drug certificate and the production license. And it is expected to launch in 2014.”

“We are also committed to advance our other vaccine development pipeline. We have a few pipeline products, including varicella vaccine, pneumococcal vaccines and rubella vaccine that are under the evaluation by CFDA for granting a clinical trial approval. We believe the advancement of these product development programs will maintain our sustainable growth in long term.”

Financial Review for First Quarter Ended March 31, 2013

An analysis of sales and gross profit is as follows:

Total sales for the first quarter 2013 increased by 68% to $10.1 million, from $6.0 million in first quarter of 2012. The total sales growth was primarily driven by sales increase in Healive which was due to the favorable competitive landscape. The mumps vaccine manufactured by our Dalian site was firstly commercialized in the current quarter that also contributed to the total sales growth. The total sales growth was partly offset by the decrease of Bilive sales.

Gross profit of the first quarter 2013 increased by 90% to $7.1 million from $3.7 million in the same period of 2012. Gross profit margin percentage increased to 70% from 62% in 2012 with Healive sales represented 61% of the current quarter sales compared to 27% in same period of 2012.  The main reasons for the increased gross profit margin in first quarter 2013 were the lower unit cost of Healive resulted from higher production volume in response to increased sales and the higher sales mix of Healive vaccines in syringe sold at premium price.

Selling, general and administrative expenses for the first quarter 2013 were $6.4 million, compared to $4.3 million in the same period of 2012. SG&A expenses as a percentage of the sales in first quarter of 2013 were 63%, compared to 72% for the same quarter of prior year. The increase in SG&A expenses was mainly due to increased selling activities and costs that resulted in sales increases in hepatitis A and new mumps vaccines; Material and labor costs mainly for the ongoing validation activities to prepare for GMP certification for the EV71 manufacturing facilities in the Changping site; And higher operating, amortization and utilities costs in current quarter in Changping site, which was under renovation in same period of prior year.

R&D expenses in the first quarter of 2013 were $1.8 million, a significant decrease from $7.3 million in the same period of 2012 as the EV71 vaccine Phase III clinical trial was approaching to the end stage in current quarter where it just started in the same period of 2012. Also, since mumps was commercialized, no research and development expenses in current quarter while it was being developed in the same period of 2012.

Depreciation of property, plant and equipment and amortization of licenses and permits for the first quarter of 2013 was $0.8 million, compared to $0.3 million for the same period of prior year. Depreciation increased because more assets were put into service at the Changping facility since the last quarter of 2012.

Net loss attributable to stockholders in the first quarter of 2013 was $2.0 million, or $0.04 per basic and diluted share, compared to a net loss of $5.6 million, or $0.10 per basic and diluted share, for the same quarter of last year.

As of March 31, 2013, cash and cash equivalents totaled $91.6 million, compared to $91.2 million as of December 31, 2012. Net cash used in operating activities was $5.6 million in the first quarter of 2013. Net cash of $2.1 million was used in investing activities which was mainly used for payment and prepayment for acquiring property, plant and equipment for Changping facility. Net cash provided by financing activities was $8.0 million in the first quarter of 2013, including loan proceeds of $7.5 million drawn under credit facilities already in place supporting EV71 vaccine commercialization and daily operations. When appropriate, the Company will seek new sources of financing to commercialize other pipeline products.

Conference Call Details

The Company will host a conference call on Tuesday, May 28, 2013 at 8:00 a.m. EDT (May 28, 2013 at 8:00 p.m. China Standard Time) to review the Company’s financial results and provide an update on recent corporate developments. To access the conference call, please dial 1-877-407-4018 (USA) or 1-201-689-8471 (International). A replay of the call will be available from 11 a.m. EDT on May 28, 2012 to June 11, 2013 at midnight. To access the replay, please dial 1-877-870-5176 (USA) or 1-858-384-5517 (International) and reference the replay pin number 414862.

A live audio webcast of the call will also be available from the investors section on the corporate web site at www.sinovac.com. A webcast replay can be accessed on the corporate website beginning May 28, 2013 and the replay will remain available for 30 days.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases including hepatitis A and B, seasonal influenza, H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu) and mumps, as well as animal rabies vaccine for canines. The Company recently concluded the phase III clinical trial for enterovirus 71 (against hand, foot and mouth disease).  In 2009, Sinovac was the first company worldwide to receive approval for its H1N1 influenza vaccine, Panflu.1, and has manufactured it for the Chinese Central Government, pursuant to the government-stockpiling program.  The Company is also the only supplier of the H5N1 pandemic influenza vaccine to the government-stockpiling program. Sinovac is developing a number of new pipeline vaccines including vaccines for pneumococcal polysaccharides, pneumococcal conjugate, varicella and rubella. Sinovac sells its vaccines mainly in China and exports selected vaccines to Mongolia, Nepal, and the Philippines. Sinovac has also been granted a license to commercialize seasonal flu vaccine in Mexico.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Sinovac does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Helen Yang/Chris Lee
Sinovac Biotech Ltd.
Tel:  +86-10-8279-9871/9659
Fax:  +86-10-6296-6910
Email: ir@sinovac.com

Investors:
Stephanie Carrington
The Ruth Group
Tel:  +1-646-536-7017
Email: scarrington@theruthgroup.com

Media:
Aaron Estrada
The Ruth Group
Tel:  +1-646-536-7028
Email: aestrada@theruthgroup.com

AstraZeneca to Acquire Omthera Pharmaceuticals (OMTH)

PRINCETON, N.J., May 28, 2013 /PRNewswire/ — AstraZeneca today announced that it has entered into a definitive agreement to acquire Omthera Pharmaceuticals, a specialty pharmaceutical company based in Princeton, New Jersey, focused on the development and commercialization of new therapies for abnormal levels of lipids in the blood, referred to as dyslipidemia.

Omthera’s investigational product, Epanova™, for the potential treatment of patients with very high triglycerides, is a novel omega-3 free fatty acid composition that has been shown to bolster levels of eicosapentaenoic acid and docosahexaenoic acid significantly in the blood. In studies to date, it has been shown to reduce triglyceride levels and improve other key lipid parameters and is expected to increase convenience for patients by providing both two and four gram once-a-day doses with or without meals.

Under the terms of the agreement, AstraZeneca will acquire Omthera for $12.70 per share, or approximately $323 million, which has an Enterprise Value of approximately $260 million after incorporating Omthera’s cash balances of approximately $63 million. This represents a premium of 88% on Omthera’s closing price on Friday 24 May 2013. In addition to the cash payment, each Omthera shareholder will receive Contingent Value Rights (CVRs) of up to approximately $4.70 per share, equating to approximately $120 million in total, if specified milestones related to Epanova are achieved, or if a milestone related to global net sales is achieved. This will bring the total potential acquisition cost to approximately $443 million.

Omthera has completed pharmacokinetic and Phase III clinical studies to investigate the safety and efficacy profile of Epanova, a coated soft gelatin capsule containing a complex mixture of polyunsaturated free fatty acids derived from fish oils. In 2012, Omthera reported positive results from two Phase III trials (EVOLVE and ESPRIT) examining the effectiveness of Epanova in lowering very high triglycerides, and in reducing non-HDL cholesterol in combination with a statin for patients with high triglycerides. Both trials were conducted under a Special Protocol Assessment with the US Food and Drug Administration.

Omthera is expected to file a new drug application (NDA) in the US for Epanova in mid-2013 for patients with severe hypertriglyceridemia (triglyceride levels greater than or equal to 500mg/dL), with regulatory filings in other markets to follow. AstraZeneca aims to file a supplemental NDA as soon as possible for Epanova as a treatment for patients with mixed dyslipidemia (triglyceride levels of 200-499mg/dl), as well as in a fixed dose combination with CRESTOR® (rosuvastatin calcium) for those mixed dyslipidemia patients at high risk of a cardiovascular event. AstraZeneca intends to pursue a large-scale cardiovascular outcomes trial for Epanova in combination with statins.

Pascal Soriot, Chief Executive Officer of AstraZeneca said: “The number of people with elevated triglyceride levels is rising rapidly across the world, due in part to the increasing prevalence of obesity and diabetes. There is a clear need for effective and convenient alternatives to some of the existing treatments. Epanova offers real potential both as a distinctive monotherapy for the treatment of hypertriglyceridemia and in combination with Crestor for patients at high risk of adverse cardiovascular events. This is an exciting acquisition that clearly complements our existing portfolio in cardiovascular and metabolic disease, one of our core therapy areas.”

Gerald L. Wisler President & CEO, Board Member, and Co-Founder of Omthera, commented: “We are delighted to be joining AstraZeneca, a leading pharmaceutical company with a proven track record in the development and commercialization of global brands in the area of cardiovascular disease. We believe strongly that AstraZeneca can maximize the value of Epanova not only as a monotherapy treatment for dyslipidemia but also as a treatment for cardiovascular disease in combination with Crestor.”

The Board of Directors of Omthera has unanimously approved the terms of the agreement, and has recommended that its shareholders approve the transaction. AstraZeneca’s Board has also approved the terms of the agreement. Subject to the approval of Omthera’s shareholders as well as other conditions including customary regulatory approvals, the transaction is expected to close in the third quarter of 2013. Omthera’s shareholders representing approximately 60% of the current total shares outstanding have entered into a voting agreement with AstraZeneca to vote in favor of the transaction, subject to the conditions set out in the voting agreement.

About Epanova™
Epanova is a patent protected, novel, ultra-pure mixture of the free fatty acid forms of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) that meaningfully reduces triglycerides, improves other key lipid parameters and is expected to increase patient convenience with 2-gram once-a-day dosing with or without meals. Epanova is a coated soft gelatin capsule containing a complex mixture of polyunsaturated free fatty acids derived from fish oils, including multiple long-chain omega-3 and omega-6 fatty acids, with EPA, DHA, and docosapentaenoic acid being the most abundant forms of omega-3 fatty acids. Omthera Pharmaceuticals has completed pharmacokinetic and Phase III clinical studies to investigate the safety and efficacy profile of Epanova. In 2012 Omthera reported positive results from its Phase III EVOLVE and ESPRIT trials, both of which were conducted under a Special Protocol Assessment with the U.S. Food and Drug Administration. Omthera is expected to file an NDA for Epanova in mid-2013 for patients with triglyceride levels greater than or equal to 500mg/dL or for severe hypertriglyceridemia. Other planned indications for the monotherapy are as an adjunct to statin therapy and diet in patients with mixed dyslipidemia and increased triglycerides (greater than or equal to 200 and less than 500 mg/dL) and as an adjunct to statin therapy and diet in high-risk patients for the prevention and reduction of major adverse cardiovascular events. Omthera holds worldwide rights to Epanova under a license from Chrysalis Pharma AG, a privately held Swiss company that is the owner of the product.

About hypertriglyceridemia
Hypertriglyceridemia is a serum lipid disorder (dyslipidemia) defined by serum triglyceride levels of greater than or equal to 150 mg/dL. It is associated with an increased risk of cardiovascular diseases, such as coronary artery disease, or acute risk of pancreatitis if triglyceride levels exceed 500 mg/dL. In 2011, dyslipidemia affected 352 million people aged 20 or older across the major pharmaceutical markets (United States, France, Germany, Italy, Spain, United Kingdom, and Japan), caused by genetic predisposition and various secondary/contributing factors, such as lifestyle and dietetic behavior (e.g. obesity, malnutrition, metabolic syndrome), as well as by numerous diseases (e.g. diabetes, renal disease, autoimmune diseases). It is estimated that there are 5 million patients in the U.S. with TG levels > 500 mg/dL. A recent NHANES analysis of dyslipidemia in the US indicated that low-density lipoprotein levels have actually declined since the last analysis, but the percentage of patients with severe hypertriglyceridemia has risen sharply along with the dramatic increases in obesity.

About mixed dyslipidemia
The second most common form of dyslipidemia is mixed dyslipidemia. Physicians estimate that between 22% and 37% of patients have this form of dyslipidemia. The term mixed dyslipidemia refers to a condition in which the patient suffers from hypercholesterolemia, low high-density lipoprotein levels and hypertriglyceridemia. Due to the nature of the condition and the fact that different classes of antidyslipidemics offer different benefits in controlling lipid abnormalities, a combination therapy is often considered the most beneficial in patients with mixed dyslipidemia. Options are a combination of a statin with either fibrate or nicotinic acid or Omega-3 fatty acids.

About Omthera Pharmaceuticals, Inc.
Founded in 2008, Omthera Pharmaceuticals, Inc. is an emerging specialty pharmaceutical company that listed on NASDAQ in April 2013 (NASDAQ: OMTH). Led by a team of experts with exceptional experience in developing new therapies for lipid disorders, Omthera is dedicated to developing innovative therapies for the millions of patients who have elevated triglyceride levels and increased risk of cardiovascular disease. Omthera currently has 14 employees based in Princeton, New Jersey. For more information please visit: www.omthera.com

About AstraZeneca
AstraZeneca is a global, innovation-driven biopharmaceutical business that focuses on the discovery, development and commercialization of prescription medicines, primarily for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection and neuroscience diseases. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com

CONTACTS

Omthera Pharmaceuticals contacts

Chris Schade, Executive Vice President and Chief Financial Officer +1 908 741 6402 (US)

AstraZeneca contacts

Media Enquiries
Ayesha Bharmal                         +44 20 7604 8034 (UK/Global)
Vanessa Rhodes                        +44 20 7604 8037 (UK/Global)
Tony Jewell                                 +1 (302) 885 4594 (US)
Jacob Lund                                 +46 8 553 260 20 (Sweden)

Investor Enquiries
James Ward-Lilley                      +44 20 7604 8122    mob: +44 7785 432613
Karl Hard                                    +44 20 7604 8123  mob: +44 7789 654364
Colleen Proctor                           + 1 302 886 1842     mob: +1 302 357 4882
Ed Seage                                    + 1 302 886 4065     mob: +1 302 373 1361

(WPCS) Announces Reverse Split of Common Stock

EXTON, PA — (Marketwired) — 05/28/13 — WPCS International Incorporated (NASDAQ: WPCS), a leader in design-build engineering services for communications infrastructure, has announced that on May 28, 2013, it effected a one for seven reverse stock split of its issued and outstanding common stock to meet the requirements of a continued listing on the NASDAQ Capital Market.

WPCS initiated the reverse split pursuant to an amendment to its Certificate of Incorporation filed with the Secretary of State of Delaware on May 16, 2013, which became effective at 12:01 am on May 28, 2013. As of the effective date, each seven shares of issued and outstanding common stock will be converted into one share of common stock. The WPCS common stock will trade under a new CUSIP number of 92931L302. The Company’s ticker symbol of (NASDAQ: WPCS) will remain the same, however, the ticker symbol will be represented as (NASDAQ: WPCSD) for twenty trading days commencing from the effective date of May 28, 2013.

The purpose of the reverse stock split is to raise the per share trading price of WPCS common stock to regain compliance with the $1.00 per share minimum bid price requirement for a continued listing on the NASDAQ Capital Market. As previously disclosed, in order to maintain the WPCS listing on the NASDAQ Capital Market, on or before June 24, 2013, the common stock must have a minimum closing bid price of $1.00 per share for a minimum of ten prior consecutive trading days. The total issued and outstanding common stock will be decreased from approximately 6,950,000 shares to about 993,000 shares.

Andrew Hidalgo, Chairman and CEO of WPCS, commented, “WPCS values its NASDAQ Capital Market listing and we will continue to make the efforts necessary to be compliant. The management team has worked diligently to improve our financial results over the last two fiscal years. Now, we are in a better position to seek a shareholder value proposition. With our NASDAQ Capital Market listing, we can continue developing our short term strategy to deliver increased shareholder value.”

About WPCS International Incorporated:

WPCS is a design-build engineering company that focuses on the implementation requirements of communications infrastructure. The company provides its engineering capabilities including wireless communications, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide. For more information, please visit www.wpcs.com

Statements about the company’s future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are “forward looking” statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve risks and uncertainties and are subject to change at any time. The company’s actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward looking statements.

CONTACT:

WPCS International Incorporated
610-903-0400 x101
Email Contact

Cardium (CXM) Announces ISS And Glass Lewis Annual Meeting Proposals Approvals

SAN DIEGO, May 28, 2013 /PRNewswire/ — Cardium Therapeutics (NYSE MKT: CXM) announced today that Institutional Shareholder Services, Inc. (“ISS”) and Glass, Lewis & Co., LLC (“Glass Lewis”), the leading independent U.S. proxy advisory firms, each recommend that Cardium’s stockholders vote “FOR” all proposals in the proxy statement and recommends a “1 Year” advisory say on pay frequency with respect to the matters that will be considered at the Company’s upcoming annual meeting scheduled for June 6, 2013.

“We are pleased that Glass Lewis and ISS, the leading independent proxy and corporate governance advisory firms whose recommendations are relied upon by institutional shareholders, have recommended in favor of all proposals contained in our recent proxy statement.  Each of these firms recommend a vote “For” the following: (1) re-election our Class I Directors, Edward W. Gabrielson, M.D. and Lon E. Otremba; (2) approval of the compensation paid to our named executive officers; (3) approval of the sale of the Series A Convertible Preferred Stock; (4) approval of a reverse stock split (5) approval of an increase to authorized common stock; and (6) ratification of the selection of our independent auditors. Our Board of Directors encourages all stockholders to submit their proxies in support of the Company’s proposals,” stated Christopher J. Reinhard, Cardium’s Chairman and CEO.

On April 29, 2013, the Company filed its definitive proxy statement on Schedule 14A in connection with the annual meeting.  Cardium’s proxy statement and any other materials filed by the Company with the SEC can be obtained free of charge at the SEC’s website at www.sec.gov or from the Company’s website at www.cardiumthx.com.  Only stockholders who held the Company’s common stock as of the record date of April 26, 2013 are eligible to vote at the annual meeting.  Cardium’s stockholders are strongly advised to read the proxy statement carefully before making any voting decision.

Stockholders that have any questions relating to the Company’s annual meeting, voting methods, or require additional proxy materials should contact the Company’s proxy advisor, Georgeson, at 888-219-832.

About Cardium

Cardium is an asset-based health sciences and regenerative medicine company focused on the acquisition and strategic development of innovative products and businesses with the potential to address significant unmet medical needs and having definable pathways to commercialization, partnering or other economic monetizations. Cardium’s current portfolio includes the Tissue Repair Company, Cardium Biologics, and the Company’s newly-acquired To Go Brands^® nutraceutical business. The Company’s lead commercial product, Excellagen^® topical gel for wound care management, has received FDA clearance for marketing and sale in the United States.  Cardium’s lead clinical development product candidate Generx^® is a DNA-based angiogenic biologic intended for the treatment of patients with myocardial ischemia due to coronary artery disease. To Go Brands^® develops, markets and sells dietary supplements through established regional and national retailers.  In addition, consistent with its capital-efficient business model, Cardium continues to actively evaluate new technologies and business opportunities. For more information, visit www.cardiumthx.com.

Forward-Looking Statements

Except for statements of historical fact, the matters discussed in this press release and in the investor presentation available on the Company’s website and to be presented following the annual meeting of stockholders are forward looking and reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control and may cause actual results to differ materially from expectations. For example, there is no assurance that planned product development efforts and clinical studies can be performed in an efficient and effective manner; that results or trends observed in one clinical study or procedure will be reproduced in subsequent studies or in actual use; that new clinical studies will be successful or will lead to approvals or clearances from health regulatory authorities, or that approvals in one jurisdiction will help to support studies or approvals elsewhere; that certain elements of the preferred stock financing or other matters submitted for approval by stockholders will be approved by stockholders; that the Company will satisfy the requirements of its compliance plan and will otherwise continue to satisfy the listing requirements of its exchange or that its shares can continue to be listed on a national exchange; that we can raise sufficient capital from partnering, monetization or other fundraising transactions to maintain our stock exchange listing or adequately fund ongoing operations; that the Company can attract suitable commercialization partners for our products or that we or partners can successfully commercialize them; that our product or product candidates will not be unfavorably compared to competitive products that may be regarded as safer, more effective, easier to use or less expensive or blocked by third party proprietary rights or other means; that the products and product candidates referred to in this report or in our other reports will be successfully commercialized and their use reimbursed, or will enhance our market value; that our To Go Brands business can be successfully integrated and expanded; that new product opportunities or commercialization efforts will be successfully established; that third parties on whom we depend will perform as anticipated; that the preferred stock offering can be completed as proposed or that the Company will not be adversely affected by risks and uncertainties that could impact our operations, business or other matters, as described in more detail in our filings with the Securities and Exchange Commission. We undertake no obligation to release publicly the results of any revisions to these forward-looking statements to reflect events or circumstances arising after the date hereof.

Copyright 2013 Cardium Therapeutics, Inc.  All rights reserved.
For Terms of Use Privacy Policy, please visit www.cardiumthx.com.

Cardium Therapeutics^®, Generx^®,Cardionovo^®, Tissue Repair™, Excellagen^®, Excellarate™, LifeAgain™, Genedexa™, Neo-Apps^®, MedPodium^®, Neo-Energy^®, Neo-Chill™ and Neo-Carb Bloc^® are trademarks of Cardium Therapeutics, Inc. or Tissue Repair Company.  To Go Brands^®,  High Octane^®, Green Tea Energy Fusion™, Acai Natural Energy Boost™, Greens to Go^®, Extreme Berries to Go^®, Healthy Belly^®, VitaRocks^®, Smoothie Complete^®, Trim Green Coffee Bean™, and Trim Energy^®, are trademarks of To Go Brands, Inc.  Other trademarks belong to their respective owners.

(HAST) to Hold 24th Annual Madge Marmaduke Scholarship Golf Tournament

AMARILLO, Texas, May 24, 2013 /PRNewswire/ — Hastings Entertainment, Inc. (NASDAQ: HAST), a leading multimedia entertainment superstore retailer, will hold its 24^th annual Madge Marmaduke Scholarship Golf Tournament on Thursday, May 30,2013 at the Ross Rogers Golf Club in Amarillo. This year 212 golfers, each of whom has donated to the scholarship fund, are expected to compete in this year’s tournament. All proceeds will go into the Madge Marmaduke Scholarship Fund which provides scholarship funds for employees or employee’s family members, who otherwise might not be able to attend college. Since its commencement in 1990, the Madge Marmaduke Scholarship Fund has awarded 175 four-year scholarships totaling over $1,000,000.

The Madge Marmaduke Scholarship, originally established by Madge Marmaduke in 1990, is a merit program with the goal of providing an opportunity for tuition assistance to hardworking, deserving students whose past performance in all areas point to continued academic success.  Students who might not qualify for other academic scholarships are encouraged to apply, as extracurricular activities, volunteer work, work history, ability to communicate, recommendations and financial need, in addition to academic records and test scores, are all considered when evaluating candidates for the scholarship award.

About Hastings
Founded in 1968, Hastings Entertainment, Inc. is a leading multimedia entertainment retailer that combines the sale of new and used books, videos, video games and CDs, as well as trends and consumer electronics merchandise, with the rental of videos and video games in a superstore format.  We currently operate 134 superstores, averaging approximately 24,000 square feet, primarily in medium-sized markets throughout the United States.  We also operate three concept stores, Sun Adventure Sports, located in Amarillo, Texas and Lubbock, Texas, and TRADESMART, located in Littleton, Colorado.

We also operate www.goHastings.com, an e-commerce Internet Web site that makes available to our customers new and used entertainment products and unique, contemporary gifts and toys.  The site features exceptional product and pricing offers.  The Investor Relations section of our web site contains press releases, a link to request financial and other literature and access to our filings with the Securities and Exchange Commission.

DISH Pursues Co-Development of Fixed-Mobile Broadband Offering w/ (NTLS)

DISH Network (NASDAQ: DISH) and NTELOS Holdings Corp. (nTelos)(NASDAQ: NTLS), a leading regional provider of nationwide wireless voice and data communications and home to the “best value in wireless,” announced today that nTelos and a wholly owned subsidiary of DISH have executed a Letter of Intent to pursue a strategic relationship to co-develop a fixed-mobile broadband service within nTelos’s coverage territory serving Virginia, West Virginia and portions of Maryland, North Carolina, Pennsylvania, Ohio and Kentucky.

Once complete, the service is expected to give nTelos and DISH customers, many of whom are located in underserved rural communities, access to reliable high-speed Internet, whether at home or on the go.

“We are pleased to team with nTelos on this exciting opportunity to leverage their mobile capabilities along with our technical service infrastructure to develop broadband services,” said Charlie Ergen, chairman and co-founder of DISH. “With users consuming more data, the demand for fast, reliable Internet service remains stronger than ever, particularly in rural areas where the FCC estimates nearly a fifth of American households lack broadband access. By working with nTelos, we believe we can create a service that simultaneously addresses the mobile and in-home requirements of rural residents, with the potential to serve as a model for how we can utilize spectrum more effectively while creating differentiated consumer offerings.”

“Today’s announcement demonstrates nTelos’s commitment to finding new and innovative ways to serve our customers, while maximizing the value of our network assets to grow our business,” said James A. Hyde, CEO of NTELOS Holdings Corp. “The convergence of fixed and mobile broadband networks holds tremendous promise for consumers and telecom service providers alike, allowing for an improved customer experience and new sources of incremental revenue. Our relationship with DISH puts us at the forefront of that convergence and creates an opportunity for nTelos to establish itself as a thought leader among wireless service providers.”

About NTELOS

NTELOS Holdings Corp. (NASDAQ: NTLS), operating through its subsidiaries as “nTelos Wireless,” is headquartered in Waynesboro, VA, and provides high-speed, dependable nationwide voice and data coverage for approximately 451,000 retail subscribers based in Virginia, West Virginia and portions of Maryland, North Carolina, Pennsylvania, Ohio and Kentucky. nTelos’s licensed territories have a total population of approximately 7.9 million residents, of which its wireless network covers approximately 6.0 million residents. nTelos is also the exclusive wholesale provider of wireless digital PCS services to Sprint Nextel in nTelos’s western Virginia and West Virginia service area for all Sprint CDMA wireless customers. Additional information about nTelos is available at www.ntelos.com or www.facebook.com/nteloswireless and www.twitter.com/ntelos_wireless.

About DISH

DISH Network Corporation (NASDAQ: DISH), through its subsidiary DISH Network L.L.C., provides approximately 14.092 million satellite TV customers, as of March 31, 2013, with the highest quality programming and technology with the most choices at the best value, including HD Free for Life®. Subscribers enjoy the largest high definition line-up with more than 200 national HD channels, the most international channels, and award-winning HD and DVR technology. DISH Network Corporation’s subsidiary, Blockbuster L.L.C., delivers family entertainment to millions of customers around the world. DISH Network Corporation is a Fortune 200 company. Visit www.dish.com.

(YY) Announces the Appointment of Two New Independent Directors

GUANGZHOU, China, May 24, 2013 (GLOBE NEWSWIRE) — YY Inc. (Nasdaq:YY) (“YY” or the “Company”), a revolutionary rich communication social platform, today announced that it has enhanced the independence of its Board of Directors (the “Board”) by appointing two additional independent directors, effective as of May 23, 2013. After the appointment, the Company’s Board will consist of a majority of independent directors.

YY appointed Mr. Richard Weidong Ji as an independent director and a member of the audit committee of the Board and Mr. David Tang, as an independent director and a member of the compensation committee of the Board. Additionally, Mr. Alexander Hartigan, a non-independent director of the Board who has been a director since 2008, has resigned from the Board effective May 23, 2013.

Mr. Richard Weidong Ji served as managing director and head of Asia-Pacific Internet/media investment research at Morgan Stanley Asia Limited from 2005 to 2012. During his time with Morgan Stanley, Mr. Ji was consistently rated as one of the top Internet analysts covering the Chinese Internet according to the Institutional Investor and Greenwich Associates’ annual surveys. Over Mr. Ji’s career, he has received many awards from reputable publications and research groups including the Financial Times, South China Morning Post, Asiamoney, Absolute Return & Alpha magazine and iResearch Consulting Group. Mr. Ji holds a PhD in biological science from Harvard University, an MBA from the Wharton School of Business at the University of Pennsylvania and a Bachelor of Science from Fudan University in China. Mr. Ji is currently establishing his own fund with the goal of investing in Internet technology leaders and consumer brands that help enhance the lives of Chinese consumers.

Mr. David Tang currently serves as a Managing Director of Nokia Growth Partners, a global venture capital firm that specializes in investing in mobile technologies and mobile businesses. Mr. Tang has spent nearly a decade with the Nokia group, having served as the Vice Chairman of Nokia (China) Investment Co., Ltd. and Chairman of Nokia Telecommunications Ltd. where he was responsible for government relations, strategic partnerships, corporate development, and sustainability. Prior to serving in those roles, he was the Vice Chairman and Vice President of Sales for Nokia in the greater China region from 2005 to 2009. Mr. Tang has also held executive positions in other leading global technology firms such as Apple, AMD, 3Com, DEC, and AST.  From 2011 to 2012, Mr. Tang was the Vice President of the European Union Chamber of Commerce in China, Vice Chairman of the China Association of Enterprises with Foreign Investments, and Vice Chairman of the Beijing International Chamber of Commerce. Mr. Tang received his bachelor’s degree in Computer Science and Engineering from California State University at Long Beach and a master’s degree in Business from California State University at Fullerton.

Mr. Jun Lei, chairman of the Board of YY, stated, “We are very excited to bring on two new directors who have extensive knowledge and experience working in the global internet and technology industries. We believe their wealth of knowledge, skills and insights will help us drive our ongoing strategic initiatives going forward. We also believe that the increased independence of our Board further demonstrates our ongoing commitment to strengthening our corporate governance practice. Upon the appointments of Mr. Ji and Mr. Tang, we are in full compliance with the requirements of the NASDAQ Stock Market Rules to have a majority independent board in a relatively short amount of time since becoming a publicly listed company. We also wish to express our sincere gratitude to Mr. Hartigan for his service to YY as our Board member and wish him continued success in his future endeavors.”

Pursuant to these appointments, the Company’s Board is now comprised of nine members, a majority of whom are independent directors. The Company’s audit and compensation committees now both have three members, all of whom are independent directors.

About YY Inc.

YY Inc. (“YY” or the “Company”) is a revolutionary rich communication social platform that engages users in real-time online group activities through voice, text and video. Launched in July 2008, YY Client, the Company’s core product, empowers users to create and organize groups of varying sizes to discover and participate in a wide range of online activities, including online games, karaoke, music concerts, education, live shows and conference calls.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these factors and other risks is included in YY’s filings with the SEC. This press release also contains statements or projections that are based upon information available to the public, as well as other information from sources which the Company believes to be reliable but whose accuracy or completeness the Company cannot guarantee. YY does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

CONTACT: Investor Relations Contact:
         YY Inc.
         Anna Yu
         Tel: (+86) 20 29162000
         Email:IR@YY.com

         ICR, Inc.
         Jeremy Peruski
         Tel: +1 (646) 915-1611
         Email:IR@YY.com

Otelco (OTT) Emerges from Bankruptcy with New Credit Facility

Otelco Inc. announced that it has emerged from bankruptcy and completed its balance sheet restructuring process, including an extension of its senior credit facility.

“Today, we completed the actions necessary to implement the final steps of our restructuring Plan,” said Mike Weaver, President and Chief Executive Officer of Otelco. “Our total debt has been reduced by more than 50%, our senior credit facility has been extended through April 2016, and we have exited Chapter 11 bankruptcy. Our customers have been provided uninterrupted service during our restructuring, and our vendor partners have continued to receive payment in full for the goods and services they provide Otelco.”

The Company repaid $28.7 million on its senior credit facility and extended its maturity through April 2016. The remaining balance of $133.3 million will have quarterly principal payments of 1.25% of the new loan amount plus interest on the outstanding balance at 6.5%. In addition, the Company will utilize 75% of its quarterly free cash flow to further reduce the outstanding balance on the loan each quarter. The facility includes a $5.0 million revolver which was undrawn at closing. These actions, along with the actions described below, complete the requirements of the Company’s pre-packaged Plan and allow Otelco to exit bankruptcy today.

“A special thank you goes to our Board of Directors for guiding the restructuring process,” added Weaver. “We appreciate the years of service provided by Bill Bak, Bob Guth, and Bill Reddersen, as they leave the Otelco Board today. We are excited to have three very experienced new members joining our Board. Norman Frost, Brian Ross and Gary Sugarman bring many years of telecommunications and management experience to their new positions. Short biographical information is included on each individual. Additional details of the Board composition and committee structure will be included in a Form 8-K to be filed shortly.

“Our existing Class A stock and the majority of our subordinated debt traded together as an IDS on both the NASDAQ Global Market and the Toronto Stock Exchange,” noted Weaver. “Today will be the last trading day for our IDSs. Our old Class A shares were part of the IDS and will be extinguished. Five of the subordinated debt bonds, including the bonds that were part of the IDS, will be exchanged for one new Class A share which will trade under the symbol OTEL on the NASDAQ Global Market beginning after the Memorial Day holiday. To provide a simple example, holders of 100 IDS units will receive 20 shares of our new Class A stock. Subject to dilution by a management equity plan, existing sub-note holders will retain over 85% of the ownership of Otelco. Due to the consistent low level of trading on the Toronto Stock Exchange, Otelco’s new Class A shares will not be listed on that exchange.”

New Otelco Board Members

Norman C. Frost – Mr. Frost is currently a private investor. He served on the Board of Directors of Iowa Telecom from 2006 until its acquisition by Windstream in 2010. Mr. Frost worked as an investment banker for over 25 years, focusing primarily on the telecommunications industry, where he executed a wide range of assignments for his clients, including international and domestic mergers and acquisitions, valuations, public and private equity and debt offerings, and project financings. He was a Managing Director of Legg Mason Wood Walker, Inc. and head of that firm’s Technology sector in the Investment Banking Department from 1998 to 2005. Prior to joining Legg Mason, Mr. Frost was a Managing Director in the Communications Group at Bear, Stearns & Co. Inc. and started his investment banking career at The First Boston Corporation.

Brian A. Ross – Mr. Ross is currently an independent consultant. Until December 2012, Mr. Ross served as President and CEO of KnowledgeWorks, an educational non-profit that provides innovative methodologies to teachers, administrators and local community leaders to more effectively prepare their students for college and 21^st century careers. Prior to joining KnowledgeWorks, Mr. Ross served in various financial and operations roles in a 13-year-tenure at Cincinnati Bell (sym: CBB), including Chief Financial Officer and Chief Operating Officer. Mr. Ross has also served in various financial capacities for US Shoe (formerly: USF), Student Loan Funding, and The Mead Corporation (formerly: MEA, now: MWV). He serves on the Board of Directors for Alaska Communications (sym: ALSK) where he is a member of the audit committee and is the chairperson of the compensation committee.

Gary Sugarman – Mr. Sugarman is Managing Member of Richfield Capital Partners, a venture fund formed in May 2010 to provide working capital investments in the technology/media sectors and a principal of Richfield Associates, a telecom investment/merchant bank which he founded in 1993. Over a 20-year period, Mr. Sugarman has invested in and operated numerous telecom/data companies through these entities. Mr. Sugarman sits on the board of TDS Telecom (sym: TDS), a publicly traded telecom company with both wireless and wireline assets; and LICT Corp (sym: LICT), which owns telecom operating companies and other telecom assets. Mr. Sugarman was, until recently, Executive Chairman/Investor- FXecosystem Inc, a private company based in London, and, from 2007 until 2010, Executive Chairman/Investor – Veroxity Technology Partners, a metro fiber provider in Boston. He also served as Chairman and Chief Executive Officer of Mid Maine Communications, a facilities-based telecommunications company he co-founded in 1994, until its sale in 2006 to Otelco.

ABOUT OTELCO

Otelco Inc. provides wireline telecommunications services in Alabama, Maine, Massachusetts, Missouri, New Hampshire, Vermont and West Virginia. The Company’s services include local and long distance telephone, network access, transport, digital high-speed data lines and dial-up internet access, cable television and other telephone related services. With more than 98,000 voice and data access lines, which are collectively referred to as access line equivalents, Otelco is among the top 25 largest local exchange carriers in the United States based on number of access lines. Otelco operates eleven incumbent telephone companies serving rural markets, or rural local exchange carriers. It also provides competitive retail and wholesale communications services through several subsidiaries. For more information, visit the Company’s website at www.OtelcoInc.com.

FORWARD LOOKING STATEMENTS

Statements in this press release that are not statements of historical or current fact constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “plans,” or similar terms to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the Securities and Exchange Commission.

TearLab (TEAR) to Participate in the 10th Annual Craig-Hallum Conference

SAN DIEGO, May 23, 2013 (GLOBE NEWSWIRE) — TearLab Corporation (Nasdaq:TEAR) (TSX:TLB) (“TearLab” or the “Company”) announced today that its Chief Executive Officer, Elias Vamvakas, will present an update on the Company’s business at the 10th Annual Craig-Hallum Institutional Investor Conference on Wednesday, May 29, 2013 at 9:20 a.m. Central Time. The conference will be held at the Minneapolis Marriott City Center.

Mr. Vamvakas’ presentation will not be webcast. Portfolio managers and analysts who wish to request a meeting with the Company at the conference should contact their Craig-Hallum sales representative.

About TearLab Corporation

TearLab Corporation (www.tearlab.com) develops and markets lab-on-a-chip technologies that enable eye care practitioners to improve standard of care by objectively and quantitatively testing for disease markers in tears at the point-of-care. The TearLab® Osmolarity Test, for diagnosing Dry Eye Disease, is the first assay developed for the award-winning TearLab Osmolarity System. Headquartered in San Diego, CA, TearLab Corporation’s common shares trade on the NASDAQ Capital Market under the symbol ‘TEAR’ and on the Toronto Stock Exchange under the symbol ‘TLB.’

Forward-Looking Statements

This press release may contain forward-looking statements. These statements relate to future events and are subject to risks, uncertainties and assumptions about TearLab. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Actual events or results may differ materially. Many factors may cause our actual results to differ materially from any forward-looking statement, including the factors detailed in our filings with the Securities and Exchange Commission and Canadian securities regulatory authorities, including but not limited to our annual and quarterly reports on Forms 10-K and 10-Q. We do not undertake to update any forward-looking statements.

CONTACT: Investors:
         Stephen Kilmer
         (647) 872-4849
         skilmer@tearlab.com

         Media:
         Leonard Zehr
         Managing Director
         Kilmer Lucas Inc.
         (416) 833-9317
         leonard@kilmerlucas.com

(OCZ) Launches the Next Generation Vertex 450 Series Solid State Drives

SAN JOSE, CA–(Marketwired – May 23, 2013) –  OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced the release of the Vertex 450 SATA III SSD Series featuring the company’s proprietary Indilinx Barefoot 3 M10 Series controller. As part of the leading-edge Vertex series, Vertex 450 lives up to its name and bridges the gap between high performance and mainstream solid-state storage. With advanced storage performance, reliability, and quality, the Vertex 450 utilizes 20nm process geometry NAND flash to meet the needs of today’s high-end consumer and client applications.

“As one of the industry’s most highly awarded SSD Series to date, the Vertex name has become synonymous with the latest and greatest in flash-based storage providing an exceptional balance of performance and cost efficiency,” said Daryl Lang, Senior Vice President of Product Management for OCZ Technology. “The Vertex 450 marks the first time this popular OCZ series utilizes in-house ASIC technology delivering an even greater level of speed, reliability and value for our customers.”

Replacing the 25nm-based Vertex 4, the new Vertex 450 uses NAND flash based on the state-of-the-art 20nm process geometry to deliver superior, cost-effective solid state storage and features. The Vertex 450 provides bandwidth of up to 540MB/s read, 530MB/s write, and 4K random write performance of up to 90,000 IOPS, dramatically accelerating gaming, content creation, and multimedia applications, while driving an improved overall computing experience.

With its powerful and feature-rich Barefoot 3 M10 Series controller, the Vertex 450 is fine-tuned to deliver high speed sequential transfers and consistent sustained performance over time, regardless if the data file formats are compressed or uncompressed for faster file transfers, boot-ups, and a more responsive storage experience. The BF3 M10 controller is a derivative of the original product which adds AES-256 encryption and a power-optimized clock. This gives OCZ the ability to offer a power/cost optimized solution targeted for the mainstream market. With a priority on reliability and flash-optimized endurance, the Vertex 450 also features an advanced suite of flash management tools that analyze and dynamically adapt to increasing NAND vulnerabilities as flash cells wear, heightening data integrity over the long term.

Vertex 450 SSDs feature an ultra-slim 7mm alloy housing for compatibility with the latest thin form factor notebooks, and come bundled with a 3.5-inch adapter bracket as well as Acronis® True Image™ cloning software with Windows® 8 support to easily transfer data from legacy hard drive storage. The Vertex 450 will be available in 128GB to 512GB capacities and is backed by a 3-year warranty.

About OCZ Technology Group, Inc.
Founded in 2002, San Jose, CA-based OCZ Technology Group, Inc. (OCZ) is a global leader in the design, manufacturing, and distribution of high-performance solid-state storage solutions and premium computer components. Offering a complete spectrum of solid-state drives (SSDs), OCZ provides SSDs in a variety of form factors and interfaces (i.e. PCIe, SAS and SATA) to address a wide range of client and enterprise applications. Having developed firmware and controller platforms, to virtualization and endurance extending technologies, the company delivers vertically integrated solutions enabling transformational approaches to how digital data is captured, stored, accessed, analyzed and leveraged by customers. For more information, please visit: www.ocz.com.

Forward Looking Statements
Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of OCZ Technology Group, Inc. to be different from those expressed or implied in the forward-looking statements. In this context, words such as “will,” “would,” “expect,” “anticipate,” “should” or other similar words and phrases often identify forward-looking statements made on behalf of OCZ. It is important to note that actual results of OCZ may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, the risk that the process of preparing and auditing the financial statements or other subsequent events would require OCZ to make additional adjustments; the time and effort required to complete the restatement of the financial reports; the ramifications of OCZ’s potential inability to timely file required reports; including potential delisting of OCZ’s common stock on NASDAQ; the risk of litigation or governmental investigations or proceedings relating to such matters; market acceptance of OCZ’s products and OCZ’s ability to continually develop enhanced products; adverse changes both in the general macro-economic environment as well as in the industries OCZ serves, including computer manufacturing, traditional and online retailers, information storage, internet search and content providers and computer system integrators; OCZ’s ability to efficiently manage material and inventory, including integrated circuit chip costs and freight costs; and OCZ’s ability to generate cash from operations, secure external funding for its operations and manage its liquidity needs. Other general economic, business and financing conditions and factors are described in more detail in “Item 1A — Risk Factors” in Part I in OCZ’s Annual Report on Form 10-K filed with the SEC on May 14, 2012, and statements made in other subsequent filings. The filing is available both at www.sec.gov as well as via OCZ’s website at www.ocz.com.OCZ does not undertake to update its forward-looking statements.

All trademarks or brand names referred to herein are the property of their respective owners.

OCZ Press Contact:
Lisa Gregersen
Marketing Manager – Client Solutions
(408) 440-3449
lgregersen@ocztechnology.com

OCZ Investor Relations Contact:
Bonnie Mott
Senior Manager of Investor Relations
(408) 440-3428
bmott@ocztechnology.com

Merger of Chyron (CHYR) and Hego AB Completed, Forming ChyronHego

MELVILLE, NY — (Marketwired) — 05/23/13 — Chyron Corporation (NASDAQ: CHYR), a leading provider of Graphics as a Service for on-air and digital video applications, today announced that its merger with Hego AB has been finalized, creating ChyronHego Corporation. The companies combined in a cash and stock-for-stock transaction on May 22, 2013. The combined company, headquartered in Melville, N.Y., will continue to trade on the NASDAQ under the symbol “CHYR.”

“This is a very exciting day for both companies, as two industry pioneers join forces to create ChyronHego,” said Michael Wellesley-Wesley, chief executive officer at ChyronHego. “The merger of Chyron and Hego brings together our two companies to form a global leader in broadcast graphics creation, playout, and real-time data visualization. This is a truly transformative transaction for Chyron and Hego. By uniting the teams and resources of both companies, we will deliver to our customers a highly diverse and compelling broadcast graphics capability. With a seasoned leadership team in place, we look forward to realizing the benefits of this combination quickly and seamlessly while working toward the long-term success of our new organization. We believe that we are well positioned to accelerate earnings growth for our shareholders, enhance our capabilities for customers and multiply opportunities for our employees.”

“With this merger, we are looking forward to integrating Hego and Chyron solutions and working together to innovate new products and services,” said Johan Apel, president and chief operating officer at ChyronHego, previously chairman and CEO at Hego AB. “Our objective is to develop powerful, easy-to-use solutions for sports, news and live TV. We expect this merger to take us to a whole new level, especially in North and South America where our sports offerings have been generating significant interest. We’re excited about this combined company and I believe that our customers are the real beneficiaries.”

Under the terms of the agreement, Hego AB shareholders received a total of 12,199,431 shares of Chyron common stock and $1,000 in cash in exchange for all of Hego’s outstanding capital stock. Following the transaction, Hego AB shareholders own approximately 40 percent of the combined company, and Chyron shareholders own approximately 60 percent.

In addition, upon the achievement of certain revenue milestones during 2013, 2014 and/or 2015, Hego’s shareholders will also be entitled to receive additional shares of Chyron common stock such that the total number of shares of Chyron common stock issued in the transaction is equal to 50% of the aggregate shares of Chyron common stock outstanding, including certain outstanding options, after the closing.

About ChyronHego
ChyronHego (NASDAQ: CHYR) is a global leader in broadcast graphics creation, playout and real-time data visualization with a comprehensive range of products and services for live television, news and sports production. ChyronHego’s end-to-end graphics offerings include hosted services for graphics creation and order management, on-air graphics systems, clip servers, social media and second screen applications, channel branding, graphics asset management, virtual and touch graphics, telestration, and 3D player tracking. Headquartered in Melville, N.Y., the company also has offices in the Czech Republic, Denmark, Finland, Germany, Mexico, Norway, Singapore, Slovak Republic, Sweden and the United Kingdom. More information about ChyronHego products and services is available at www.chyronhego.com. Click here for the company’s investor relations information.

Special Note Regarding Forward-looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to: (i) our expectation that the combination of Chyron and Hego will form a global leader in broadcast graphics creation, playout and real-time data visualization, (ii) our belief that the combination of the two companies is a transformative transaction that will permit us to deliver a highly diverse and compelling broadcast graphics capability to our customers, (iii) our belief that with the combination of the companies, we are well positioned to accelerate earnings growth, enhance our capabilities for customers and multiply opportunities for our employees, and (iv) our expectation that the combination will take us to a whole new level, especially in North and South America, where we believe our sports offerings have been generating significant interest. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: current and future economic conditions that may adversely affect our business and customers; potential fluctuation of our revenues and profitability from period to period which could result in our failure to meet expectations; our ability to integrate the operations of Chyron and Hego successfully and in a timely manner; our ability to maintain adequate levels of working capital; our ability to successfully maintain the level of operating costs; our ability to obtain financing for our future needs should there be a need; our ability to incentivize and retain our current senior management team and continue to attract and retain qualified scientific, technical and business personnel; our ability to expand our Axis online graphics creation solution or to develop other new products and services; our ability to generate sales and profits from our Axis online graphics services, workflow and asset management solutions; rapid technological changes and new technologies that could render certain of our products and services to be obsolete; competitors with significantly greater financial resources; introduction of new products and services by competitors; challenges associated with expansion into new markets; failure to stay in compliance with all applicable NASDAQ requirements could result in NASDAQ delisting our common stock; and, other factors discussed under the heading “Risk Factors” contained in Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2012, which has been filed with the Securities and Exchange Commission, as well as any updates to those risk factors filed from time to time. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.

All trademarks and registered trademarks mentioned herein are the property of their respective owners.

Social Media
Facebook: http://www.facebook.com/chyronhego
LinkedIn: http://www.linkedin.com/company/chyron
Twitter: http://twitter.com/chyronhego
User Forum: http://forum.chyron.com/vbb/index.php
YouTube: http://www.youtube.com/user/chyronmelville

Contact:
Chyron Investor Relations
Tel: (631) 845-2000, press 7
Email: IRelations@chyron.com

rue21 (RUE) Enters Into Definitive Agreement to be Acquired

Represents 42% Premium to 90-Day Volume Weighted Average Price

Independent Special Committee to Conduct “Go-Shop” Process

Company Expects to Report First Quarter 2013 Diluted EPS of $0.44 per Share

WARRENDALE, Pa. and NEW YORK, May 23, 2013 (GLOBE NEWSWIRE) — rue21, inc. (Nasdaq:RUE), a leading specialty apparel retailer of girls and guys apparel and accessories, and Apax Partners, a global private equity firm, today announced a definitive agreement under which funds advised by Apax Partners will acquire all outstanding shares of rue21 for $42.00 per share in cash. The transaction is valued at approximately $1.1 billion. The transaction price represents a premium of approximately 23% to yesterday’s closing share price and approximately 42% to the 90-day volume weighted average price (VWAP).

The rue21 Board of Directors approved the agreement based on the unanimous recommendation of a Special Committee comprised of three independent directors: Bruce Hartman, Arnold Barron and Harlan Kent. The Special Committee is being advised by Perella Weinberg Partners, as financial advisor, and Kirkland & Ellis LLP and Potter Anderson & Corroon LLP, as legal advisors. Two rue21 directors who are partners of Apax recused themselves from Board discussions and the Board vote regarding the transaction. Bob Fisch, rue21’s Chairman, President and CEO, also recused himself from the Board vote.

As part of the agreement, the Special Committee, with the assistance of its advisors, will conduct an initial 40-day “go-shop” process starting today during which it will actively solicit, evaluate and potentially enter into negotiations with any parties willing to offer a superior acquisition proposal. The go-shop process provides for a low termination fee of 1% (approximately $10 million) to be paid to Apax. rue21 management, including Bob Fisch, has not entered into any arrangements with Apax and is willing to work with any party that emerges through the go-shop process.

The SKM II funds, which collectively own approximately 30% of the outstanding shares of rue21, have entered into a support agreement to vote their shares in favor of the transaction with Apax. Pursuant to the terms of the support agreement, if the agreement with Apax is terminated and rue21 enters into a superior transaction, the SKM II funds have agreed to vote their shares in favor of such superior transaction on the same pro rata basis as unaffiliated stockholders.  In addition, the transaction with Apax is subject to approval by a majority of the rue21 shares excluding SKM II’s shares. The SKM II funds were established in 1998 and the rue21 stake is their last remaining investment. Since 2005, the SKM II funds have been associated with Apax Partners. The SKM II funds were independently advised in this transaction.

Bruce Hartman, Chairman of the Special Committee, stated, “This transaction is the result of diligent analysis and thoughtful deliberations by the Special Committee over many months with the assistance of our advisors. This all-cash transaction delivers substantial and certain value, and we believe it is in the best interests of rue21 stockholders. To ensure we are maximizing value for rue21 stockholders, we are also committed to running a comprehensive go-shop process to determine if there are any superior alternatives that may exist to the Apax transaction.”

John Megrue, Chief Executive Officer of Apax Partners U.S. and Partner in the firm’s Retail & Consumer team, said, “We are very proud of the growth that rue21 has achieved. I have worked closely with Bob Fisch to support the Company’s growth from less than 100 stores at the time of the initial investment in 1998 to over 900 stores today, and Apax is excited to continue the journey with the Company’s senior management team.”

Bob Fisch, Chairman, President and CEO of rue21, said, “Thanks to the hard work of our associates, rue21 has generated strong top and bottom line growth both as a private company and as a public company. We are proud that a sophisticated investor such as Apax continues to believe in our core strategy and recognizes our value-generating capabilities. This transaction will allow us to focus on achieving our long-term objectives, including growing our business to over 1,700 stores in the U.S. and successfully implementing new initiatives such as e-commerce and rueMan.”

Preliminary First Quarter 2013 Results

rue21 also announced preliminary earnings per share and comparable store sales results for the first quarter ending April 30, 2013. Net sales for the quarter increased 9.1%, while comparable store sales decreased 4.6% from the year-ago quarter. Diluted EPS is expected to be $0.44.

Commenting on the results, Fisch said, “This quarter rue21 was impacted by the same challenges that affected the entire industry – unseasonably cool weather, higher payroll taxes and delayed tax refunds. All of these factors affected shopping patterns and resulted in a tougher quarter than we had forecasted in terms of sales growth.   Looking ahead we expect both the weather and consumer spending to improve and believe our 2013 strategic initiatives, including opening 125 stores in 2013, will allow us to deliver consistent, strong profit growth to our stakeholders.”

rue21 will announce full first quarter fiscal 2013 results on June 5, 2013, and host a conference call that day at 4:30 p.m. Eastern Time. The conference call will also be webcast live at www.rue21.com under the Investor Relations section. A replay of this call will be available on the Investor Relations section of the Company’s website, www.rue21.com, within two hours of the conclusion of the call and will remain on the website for 90 days.

Additional Transaction Details

The transaction is expected to close before the end of calendar 2013, subject to approval by the majority of the stockholders unaffiliated with the SKM II funds as well as customary closing conditions. The transaction is not subject to financing. Following completion of the transaction, rue21 will remain headquartered in Warrendale, Pennsylvania.

Perella Weinberg Partners is acting as financial advisor to the Special Committee of the rue21 Board of Directors. Kirkland & Ellis LLP and Potter Anderson & Corroon LLP are acting as legal advisors to the Special Committee.

J.P. Morgan Securities LLC (lead advisor), BofA Merrill Lynch and Goldman Sachs are providing financial advice to Apax. Committed debt financing for the transaction is being provided by BofA Merrill Lynch, J.P. Morgan and Goldman Sachs. Simpson Thacher & Bartlett LLP and Richards, Layton and Finger, P.A. are acting as legal advisors to Apax Partners. Ropes & Gray LLP is acting as legal advisor to the SKM funds.

About rue21, inc.

rue21 is a leading specialty apparel retailer offering exclusive branded merchandise and the newest trends at a great value. rue21 currently operates 932 stores in 47 states. Learn more at www.rue21.com.

About Apax Partners

Apax Partners is one of the world’s leading private equity investment groups. It operates globally and has more than 30 years of investing experience. Funds under the advice of Apax Partners total over $40 billion. These Funds provide long-term equity financing to build and strengthen world-class companies.

Over the past 10 years, funds advised by Apax have invested approximately $6.3 billion of equity in retail and consumer businesses. Apax has extensive experience in fashion apparel, footwear and accessories through current and previous investments including Tommy Hilfiger Corporation, an apparel retail company and one of the world’s leading lifestyle brands, which was acquired by PVH Corp. Apax also partnered with PVH in the company’s successful acquisition of Calvin Klein. Other fund investments include Advantage Sales & Marketing, the premier outsourced sales and marketing services provider to consumer packaged goods companies and retailers in North America, and Cole Haan, a leading designer and retailer of premium footwear and related accessories. Internationally, funds advised by the firm are currently invested in New Look, a UK-based value fashion retailer and Takko, a value apparel retailer operating in Germany, Central Europe and Russia. Notable investments in retail and consumer businesses by Apax include Dollar Tree, Children’s Place, Bob’s Discount Furniture, Sunglass Hut, Charlotte Russe, Tommy Bahama, Hibbett Sporting Goods, Teavana, Ollie’s Bargain Outlet, Comark, CBR, Lifetime Fitness, Spyder Active Sports, Miller’s Ale House and Café Rio.

Important Additional Information and Where to Find It

In connection with the proposed transaction, rue21 intends to file a proxy statement with the Securities and Exchange Commission (the “SEC”) and mail it to its stockholders. Stockholders of rue21 are urged to read the proxy statement and the other relevant material when they become available because they will contain important information about rue21, the proposed transaction and related matters. STOCKHOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT AND THE OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE PROPOSED MERGER. The proxy statement and other relevant materials (when available), and any and all documents filed by rue21 with the SEC, may also be obtained for free at the SEC’s website at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by rue21 by directing a written request to rue21, Attention Corporate Secretary, 800 Commonwealth Drive, Warrendale, Pennsylvania, 15086.

This announcement is neither a solicitation of proxy, an offer to purchase nor a solicitation of an offer to sell shares of rue21. rue21, its executive officers and directors may be deemed to be participants in the solicitation of proxies from the security holders of rue21 in connection with the proposed merger. Information about those executive officers and directors of rue21 and their ownership of rue21 common stock is set forth in the rue21 proxy statement for its 2013 Annual Meeting of Stockholders, which was filed with the SEC on April 26, 2013, and its Annual Report on Form 10-K for the year ended February 2, 2013, which was filed with the SEC on April 3, 2013. These documents may be obtained for free at the SEC’s website at www.sec.gov, and from rue21 by contacting rue21, Attention Corporate Secretary, 800 Commonwealth Drive, Warrendale, Pennsylvania, 15086. Additional information regarding the interests of participants in the solicitation of proxies in connection with the transaction will be included in the proxy statement that rue21 intends to file with the SEC.

Forward-Looking Statements

This release may include predictions, estimates and other information that might be considered forward-looking statements, including, without limitation, statements relating to the completion of this transaction. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors, including: (1) rue21 may be unable to obtain stockholder approval as required for the transaction; (2) conditions to the closing of the transaction may not be satisfied; (3) the transaction may involve unexpected costs, liabilities or delays; (4) the business of rue21 may suffer as a result of uncertainty surrounding the transaction; (5) the outcome of any legal proceedings related to the transaction; (6) rue21 may be adversely affected by other economic, business, and/or competitive factors; (7) the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement; (8) the ability to recognize benefits of the transaction; (9) risks that the transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the transaction; and (10) other risks to consummation of the transaction, including the risk that the transaction will not be consummated within the expected time period or at all. Additional factors that may affect the future results of rue21 are set forth in its filings with the SEC, including its Annual Report on Form 10-K for the year ended February 2, 2013, which is available on the SEC’s website at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. Except as required by applicable law, rue21 undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

CONTACT: For rue21

         George Sard/Andrew Cole/Brooke Gordon
         Sard Verbinnen & Co
         Tel: 212-687-8080
         Email: bgordon@sardverb.com

         Joseph Teklits/Jill Gaul
         ICR, Inc
         Tel: 203-682-8200
         Email: jteklits@icrinc.com
         Email: jill.gaul@icrinc.com

         For Apax Partners

         Sarah Rajani
         Apax Partners
         Tel: +44 (0)20 7872 6573
         Email: sarah.rajani@apax.com

         US inquiries
         Todd Fogarty
         Kekst and Company
         Tel: +1 212 521 4854
         Email: todd-fogarty@kekst.com

(HIHO) Receives Multi-Year OEM Order for Vacuum Cleaner Components

HONG KONG, May 23, 2013 (GLOBE NEWSWIRE) — Highway Holdings Limited (Nasdaq:HIHO) today announced it received a multi-year order for vacuum cleaner components valued at approximately $400,000 per year from a leading international appliance manufacturer.

Production has already commenced, and an initial order of approximately three million components has been delivered to the customer for vacuum cleaner kits that require nine different plastic parts manufactured by Highway Holdings.

“We are gratified by this leading OEM’s confidence in our capabilities and quality and look forward to additional opportunities to work together,” said Roland Kohl, president and chief executive officer of Highway Holdings.

About Highway Holdings

Highway Holdings produces a wide variety of high-quality products for blue chip original equipment manufacturers — from simple parts and components to sub-assemblies and finished products. Highway Holdings’ administrative offices are located in Hong Kong, and its manufacturing facilities are located in Shenzhen in the People’s Republic of China.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements which involve risks and uncertainties, including but not limited to economic, competitive, governmental, political and technological factors affecting the company’s revenues, operations, markets, products and prices, and other factors discussed in the company’s various filings with the Securities and Exchange Commission, including without limitation, the company’s annual reports on Form 20-F.

CONTACT: Gary S. Maier
         Maier & Company, Inc.
         (310) 471-1288