Sino Clean Energy, Inc. (SCEI) Announces Cooperation MOU with Nathalin Welstar Energy, Company Limited

XI’AN, China, Aug. 29, 2011 /PRNewswire-Asia-FirstCall/ — Sino Clean Energy Inc. (NASDAQ: SCEI) (“Sino Clean Energy,” or the “Company”), a leading producer and distributor of coal-water slurry fuel (“CWSF”) in China, today announced that it has signed a Memorandum of Understanding (“MOU”) and a preliminary engineering, procurement, and construction (“EPC”) agreement with Nathalin Welstar Energy, Company Limited (“Nathalin Welstar Energy” or “Nathalin”) for cooperation in the construction of a coal water slurry plant in Thailand.

Nathalin Welstar Energy, a subsidiary of leading Thai marine petroleum transport company Nathalin Group, focuses on developing environmentally-friendly energy sources, such as solar, wind, and clean coal. Under the agreement, Nathalin would invest in a 50,000 metric ton coal water slurry fuel (“CWSF”) production facility and a minimum 6,000 KW net output electricity power plant along with associated infrastructure. A leader in CWSF manufacturing and distribution in China and what management believes is the first US-listed Chinese company in the CWSF industry, Sino Clean Energy intends to undertake a site visit in Thailand for study and inspection to begin the process of consulting on the technical and financial aspects of the project.

Mr. Baowen Ren, chairman and chief executive officer of Sino Clean Energy, commented, “I am encouraged that we reached a pre-EPC agreement with Nathalin Welstar Energy following five months of negotiations. We highly regard the prospects of cooperation, not only because of the possible economic benefits, but also because of the strategic value of international partnership and expansion for the Company. If the pilot project succeeds, both parties plan to apply the cooperative model to larger scale CWSF facilities and electric power plants in Thailand. The Company believes that this pilot project might open up access for the company to a potentially large CWSF market in South East Asia.”

About Sino Clean Energy

Sino Clean Energy is the third largest producer of coal-water slurry fuel (“CWSF”) by sales in China, according to data provided in Frost Sullivan’s 2010 Chinese CWSF market report. A leader in developing CWSF as a cleaner alternative to burning coal aggregate in heating, industrial and power generation for residential and industrial applications, the Company has seven production lines located in Shaanxi, Liaoning, and Guangdong provinces. For more information about Sino Clean Energy, please visit http://www.sinocei.net.

QLT (QLTI) Shows Positive 4 Week Efficacy in Phase II Study for Glaucoma Using Latanoprost Punctal Plug Delivery System

VANCOUVER, British Columbia, Aug. 29, 2011 (GLOBE NEWSWIRE) — QLT Inc. (Nasdaq:QLTI) (TSX:QLT) today announced results of its Phase II clinical study on the efficacy and safety of the Latanoprost Punctal Plug Delivery System (L-PPDS) in subjects with ocular hypertension (OH) and open-angle glaucoma (OAG).

The Phase II trial featured simultaneous placement of punctal plugs in both the upper and lower puncta for delivery of a daily drug load with a goal of enabling comparable clinical outcomes to that of daily administered Xalatan^® eye drops. The Company’s overall drug development objective was a mean reduction in IOP of 5 mmHg or greater. The primary endpoint in this Phase II study was the mean change in IOP from baseline (measured as mmHg) at 2 weeks. Secondary endpoints were the mean change in IOP from baseline at 4 weeks and mean percentage change in IOP from baseline at 2 weeks and 4 weeks.

A total of 95 ITT (Intent to Treat) subjects were included in the L-PPDS treatments in this study. The mean IOP at baseline was 25.8 mmHg for this group.

After 2 weeks of L-PPDS treatment, IOP showed a statistically significant mean change from baseline of -6.2 mmHg (95% C.I. -6.8, -5.6). At the end of 2 weeks, 73% of subjects showed an IOP reduction vs. baseline of 5 mmHg or greater and 51% of subjects showed a reduction of 6 mmHg or greater. The mean percentage change in IOP from baseline at 2 weeks was -24.3%, which was statistically significant (95% C.I. -26.7, -21.9).

After 4 weeks of L-PPDS treatment, IOP showed a statistically significant mean change from baseline of -5.7 mmHg (95% C.I. -6.5, -4.9). At the end of 4 weeks, 60% of subjects showed an IOP reduction vs. baseline of 5 mmHg or greater and 47% of subjects showed a reduction of 6 mmHg or greater. The mean percentage change in IOP from baseline at 4 weeks was also statistically significant at 22.3% (95% C.I. -25.4, -19.2). Results reported in earlier Phase II L-PPDS studies using different L-PPDS plug designs and doses did not achieve these levels of IOP reduction over a 4 week treatment period.

“Most if not all glaucoma specialists would agree that eye pressure lowering should be taken out of the patients’ hands and left in the hands of the physician,” said Alan L. Robin, MD, Associate Professor Ophthalmology and International Health at Johns Hopkins University and Clinical Professor of Ophthalmology, University of Maryland. “The results of the QLT study find the L-PPDS may offer a breakthrough in the way glaucoma medication can be delivered. The results suggest that the L-PPDS may have the ability to deliver long-lasting clinically significant eye pressure lowering that is relatively well-tolerated by patients so that they do not have to worry about eye drop instillation. Adherence no longer becomes a factor in preventing the development of needless blindness. Additionally, the procedure appears to be relatively safe, minimally-invasive and simple to perform. With further development success, this delivery system could potentially revolutionize our therapy of glaucoma.”

Table 1 – Glau 11 Phase II data *

* Study sample size of 50 subjects was planned to provide a statistically reliable estimate of the mean IOP change from baseline with a 95% Confidence Interval

** Number of subjects who met ITT (Intent to Treat) and plug retention criteria (both upper and lower plug retained in at least one eye)

“We are very excited to see clinically meaningful data showing that a higher dose of latanoprost administered through a double plug approach can successfully decrease IOP by more than 5 mmHg,” said Bob Butchofsky, President and CEO of QLT Inc. “As a result, we plan to move forward with another Phase II trial in glaucoma and broaden this delivery platform by accelerating plans for a second molecule in 2012.”

The trial utilized the Company’s newest version of its later stage proprietary punctal plug in the lower punctum and an early stage prototype upper punctal plug based on a modified commercially available plug, providing a combined latanoprost amount of 141 µg. The proprietary lower punctal plugs were retained in 95% of subjects at 4 weeks. The modified commercially available upper punctal plugs were retained in 45% of subjects at 4 weeks. Using a 4 week benchmark, the subject retention rate for the proprietary lower punctal plug designs utilized in previous studies was 49% – 90%.

The L-PPDS was well tolerated over the testing period with adverse events (AEs) similar to those reported for commercial punctal plugs. The majority of AEs were ocular in nature, with tearing reported as the most frequent. No associated AEs were serious. As assessed by subjective scoring by study subjects, tearing was rated predominantly for L-PPDS treated eyes at week 4 as occasional – 22%, mild – 31%, or moderate – 32%. Few subjects experienced any discomfort related to the punctal plugs with most patients having either no awareness or mild awareness of the punctal plugs by week 4 (87% of eyes for L-PPDS subjects). A total of 42 subjects were not included in the ITT analysis at week 4, with 34 of these due to losses of the early stage prototype upper plug. During the study, 5 subjects discontinued due to AEs, and 3 subjects discontinued for other reasons. All subjects were included in the safety analysis.

About the L-PPDS Phase II Study

This completed Phase II multicenter study was conducted to evaluate the safety and efficacy of the L-PPDS utilizing simultaneous placement of punctal plugs in the upper and lower puncta containing a combined total of 141 µg of latanoprost, a prostaglandin analogue, in subjects with ocular hypertension (OH) or open-angle glaucoma (OAG) over a 4 week period. The original study design randomized subjects into one of two treatment groups: (i) placebo/L-PPDS (4 weeks placebo + 4 weeks L-PPDS), and (ii) sham/Xalatan^® (4 weeks sham + 4 weeks Xalatan^® drops). In April 2011, the trial design was amended to remove the sham/Xalatan^® arm and to remove an initial 4 week placebo plug period from the study. These changes simplified the trial design and provided earlier access to active treatment in the study, which reduced the rate of patient discontinuation in the trial. The Principal Investigator for the study was Dr. Robert Williams, formerly of the Taustine Eye Center in Louisville, KY.

Updated R&D Guidance

Research and Development (R&D) expense in the first half of 2011 was $21.1 million, and the Company previously provided guidance for R&D expense of approximately $10 million to $12 million for the third quarter of 2011. With the results of the Phase II L-PPDS study in hand, the Company is now providing R&D guidance for full year 2011 of $44 million to $46 million. Major R&D initiatives for the remainder of the year relating to the QLT091001 Phase 1b trial in patients with Leber Congenital Amaurosis (LCA) and Retinitis Pigmentosa (RP) include: (i) ongoing follow-up of LCA patients, (ii) initial re-treatment of LCA patients treated in the trial, (iii) completion of enrollment in the RP cohort, and (iv) ongoing formulation and development work. For the punctal plug drug delivery program, near term development goals include further evaluation of the single versus double plug approaches and enabling a longer duration of sustained release. Major R&D plans for this program include commencing another Phase II trial in glaucoma, device work in particular for upper puncta placement, and ongoing formulation and development work in particular for new product candidates.

Conference Call Information

QLT Inc. will hold an investor conference call today to discuss the announcement at 8:30 a.m. ET (5:30 a.m. PT). The call with slides will be broadcast live via the Internet at www.qltinc.com. To participate on the call, please dial 1-800-319-4610 (North America) or 604-638-5340 (International) before 8:30 a.m. ET. For those dialing in to the call, the presentation slides will be available 15 minutes prior to the call on QLT’s web site at www.qltinc.com. A replay of the call will be available via the Internet and also via telephone at 1-800-319-6413 (North America) or 604-638-9010 (International), access code 8762, followed by the “#” sign.

About QLT

QLT is an ocular-focused company dedicated to the development and commercialization of innovative ocular products that address the unmet medical needs of patients and clinicians worldwide. We are focused on developing our synthetic retinoid program for the treatment of certain inherited retinal diseases, developing drugs to be delivered in our proprietary punctal plug delivery system, as well as U.S. marketing of the commercial product Visudyne^® (which we co-developed with Novartis) for the treatment of wet age-related macular degeneration. QLT’s head office is based in Vancouver, Canada and the Company is publicly traded on NASDAQ (symbol: QLTI) and the Toronto Stock Exchange (symbol: QLT). For more information about the Company’s products and developments, please visit our website at www.qltinc.com.

Visudyne^® is a registered trademark of Novartis AG.

Eligard^® is a registered trademark of Sanofi S.A.

Xalatan^® is a registered trademark of Pfizer Health AB.

QLT Inc. is listed on The NASDAQ Stock Market under the trading symbol “QLTI” and on The Toronto Stock Exchange under the trading symbol “QLT.”

The QLT Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6933

Certain statements in this press release constitute “forward-looking statements” of QLT within the meaning of the Private Securities Litigation Reform Act of 1995 and constitute “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to: our financial guidance; statements concerning our clinical development programs and future plans, including plans for our proprietary punctal plug delivery platform (PPDS) and L-PPDS program and our QLT091001 synthetic retinoid program; expected progression of clinical development of these programs and any anticipated timing for development initiatives and receipt of results, including our assumptions related to initiation of new studies, current and future study enrollment and timing to treat and re-treat patients; statements concerning the potential benefits and success of our development programs and product candidates; and statements which contain language such as: “assuming,” “plan,” “potentially,” “prospects,” “future,” “projects,” “believes,” “expects” and “outlook.” Forward-looking statements are predictions only which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed in such statements. Many such risks, uncertainties and other factors are taken into account as part of our assumptions underlying these forward-looking statements and include, among others, the following: the Company’s future operating results are uncertain and likely to fluctuate; the risk that sales of Visudyne or Eligard^® may be less than expected (including due to competitive products and pricing); uncertainties relating to the timing and results of the clinical development and commercialization of our products and technologies (including, but not limited to, Visudyne, our punctal plug technology and synthetic retinoid program); assumptions related to continued enrollment trends, efforts and success, and the associated costs of these programs; outcomes for our clinical trials (including our punctal plug technology and our synthetic retinoid program) may not be favorable or may be less favorable than interim results and/or previous trials; there may be varying interpretations of data produced by one or more of our clinical trials; the timing, expense and uncertainty associated with the regulatory approval process for products; risks and uncertainties associated with the safety and effectiveness of our technology; risks and uncertainties related to the scope, validity, and enforceability of our intellectual property rights and the impact of patents and other intellectual property of third parties; and general economic conditions and other factors described in detail in QLT’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Forward-looking statements are based on the current expectations of QLT and QLT does not assume any obligation to update such information to reflect later events or developments except as required by law.

This press release also contains “forward-looking information” that constitutes “financial outlooks” within the meaning of applicable Canadian securities laws. This information is provided to give investors general guidance on management‘s current expectations of certain factors affecting our business, including our financial results. Given the uncertainties, assumptions and risk factors associated with this type of information, including those described above, investors are cautioned that the information may not be appropriate for other purposes.

CONTACT: QLT Inc. Investor Relations Contact:
         David Climie
         VP, Investor Relations
         Telephone: 604-707-7573
         dclimie@qltinc.com

         QLT Inc. Media Contact:
         Karen Peterson
         Communications Specialist
         Telephone: 604-707-7000 or 1-800-663-5486
         kpeterson@qltinc.com

         The Trout Group Investor Relations Contact:
         Christine Yang (NY)
         Telephone: 646-378-2929
         cyang@troutgroup.com
         or
         Tricia Swanson (Boston)
         Telephone: 646-378-2953
         tswanson@troutgroup.com

Vimicro (VIMC) to Benefit from Government Alliance to Drive the Adoption of the SVAC Digital-Surveillance Standard

BEIJING, Aug. 29, 2011 /PRNewswire-Asia-FirstCall/ — Vimicro International Corporation (NASDAQ: VIMC) (“Vimicro” or the “Company”), a leading multimedia semiconductor and IP-based surveillance solution provider, today announced that on August 25, 2011, five key government agencies formed an alliance to promote the adoption of the Surveillance Video and Audio Coding (SVAC) digital-surveillance standard on a national level.

(Logo: http://photos.prnewswire.com/prnh/20070528/CNM014LOGO )

The alliance is a non-profit organization devoted to accelerating the application and implementation of SVAC, as well as to popularize the standard and assist its industrialization process. Participating government agencies included: the Ministry of Public Security, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the Standardization Administration of China (SAC). During the alliance’s inaugural conference, Mr. Jian Li, the Director of the First Research Institute of the Ministry of Public Security, was elected chairman, and Vimicro’s Chairman and CEO, Dr. John Deng, was elected honorary Chairman and Chief Scientist by the government and industry leaders assembled to promote the SVAC standard. The representatives of the five agencies also delivered speeches at the gathering. One common theme was the continued commitment of the Chinese government to promote the standard nationwide to expand the application of SVAC to other areas such as the Internet of Things and to promote SVAC to become an international standard, among other topics discussed.

“The SVAC national standard was developed to solve the interoperability issues of current video-surveillance systems due to inconsistent source-coding standards. The SVAC national standard will play an important role in national security, the digital intelligent city, intelligent transportation, energy development, business, finance, healthcare and many other areas. The SVAC alliance will improve China‘s audio and video technology for the benefit of national security as well as our general industrial competitiveness, which in turn will encourage more users to purchase our members’ SVAC products,” commented Mr. Wei Sun, the head of the Technology, Information and Automation Department of the SAC.

Mr. Yiping Xie, head of the Technology and Information Bureau of the Ministry of Public Security added, “From a national innovation and independent intellectual-property perspective, the SVAC alliance creates a platform to develop the entire security and surveillance industry chain in China.”

As previously disclosed, the SVAC standard was co-developed by Vimicro and the first Research Institute of the Ministry of Public Security and it also benefited from the contributions of more than 40 scientific research institutes, universities and security-industry companies. The standard was officially released by the SAC on December 31, 2010. SVAC is the first technology standard designed to solve the unique needs of the surveillance industry. It has special significance for the establishment of China‘s public security and crime-prevention system. The implementation of the SVAC standard commenced on May 1, 2011, and it is the preferred protocol for government contracts and is available to all suppliers participating in the surveillance industry.

“This alliance creates the foundation for an exciting new era for the security video and audio-monitoring industry,” commented Dr. Deng. “As the co-initiator and co-developer of the SVAC standard, we believe Vimicro is well-situated to establish a leadership position in this growing field, and being elected as the Alliance’s honorary Chairman and Chief Scientist is a tremendous personal honor. I will devote my efforts to promote and develop the technology necessary for supporting the standard.”

About Vimicro International Corporation

Vimicro International Corporation is a leading multimedia semiconductor and solution provider that designs, develops and markets mixed-signal semiconductor products and system-level solutions that enable multimedia capabilities in a variety of products for the consumer electronics and communications markets. Vimicro is also expanding business into the surveillance market with system-level solutions and semiconductor products. Vimicro’s ADSs, each of which represents four ordinary shares, are currently trading on the NASDAQ Global Market under the ticker symbol “VIMC.”

Forward-Looking Statements

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,” “confident” and similar statements. Among other things, the quotations from management in this announcement, as well as Vimicro’s expectations and forecasts, contain forward-looking statements. Vimicro may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Vimicro’s beliefs and expectations, are 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, including but not limited to the following: the company’s ability to develop and sell new mobile multimedia products; the expected growth of the mobile multimedia market; the company’s ability to increase sales of notebook camera multimedia processors; the company’s ability to retain existing customers and acquire new customers and respond to competitive market conditions; the company’s ability to respond in a timely manner to the evolving multimedia market and changing consumer preferences and industry standards and to stay abreast of technological changes; the company’s ability to secure sufficient foundry capacity in a timely manner; the company’s ability to effectively protect its intellectual property and the risk that it may infringe on the intellectual property of others; and cyclicality of the semiconductor industry. Further information regarding these and other risks is included in Vimicro’s annual report on Form 20-F filed with the Securities and Exchange Commission. Vimicro does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of the date hereof, and Vimicro undertakes no duty to update such information, except as required under applicable law.

Gulf Resources (GURE) Receives Relocation Compensation for Factory No. 4

SHANDONG, China, Aug. 25, 2011 /PRNewswire-Asia-FirstCall/ — Gulf Resources, Inc. (Nasdaq:GURE – News) (“Gulf Resources” or the “Company”), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced that the Company’s subsidiary Shouguang City Haoyuan Chemical Ltd. Co. has signed a compensation agreement with the local government of Yangkou Town, Shouguang City, PRC for costs related to the relocation of the Company’s Factory No. 4 on August 22, 2011.

In mid-May 2011, the government requested to recall the leased land, where the Company’s original Factory No. 4 was located, for civil redevelopment and agreed to lease another parcel of land to the Company nearby to the existing Factory No. 4. The operations of the original Factory No. 4 stopped in early July 2011 as the original facilities were demolished and useful plants and machineries were relocated to the new factory.

The local government of Yangkou Town, Shouguang City has agreed to compensate the company RMB 8,599,835 (approximately USD 1.3 million) for its Factory No. 4 relocation expenses and maintenance cost. The Company expects that the new Factory No. 4 will be in operations before the end of 2011.

About Gulf Resources, Inc.

Gulf Resources, Inc. operates through two wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited (“SCHC”) and Shouguang Yuxin Chemical Industry Co., Limited (“SYCI”). The Company believes that it is one of the largest producers of bromine in China. Elemental Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. Through SYCI, the Company manufactures chemical products utilized in a variety of applications, including oil & gas field explorations and as papermaking chemical agents. For more information about the Company, please visit http://www.gulfresourcesinc.cn/.

Forward-Looking Statements

Certain statements in this news release contain forward-looking information about Gulf Resources and its subsidiaries business and products within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. The actual results may differ materially depending on a number of risk factors including, but not limited to, the general economic and business conditions in the PRC, future product development and production capabilities, shipments to end customers, market acceptance of new and existing products, additional competition from existing and new competitors for bromine and other oilfield and power production chemicals, changes in technology, the ability to make future bromine asset purchases, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in the Company‘s reports filed with the Securities and Exchange Commission. Gulf Resources undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

Midway (MDW) Reports Long Gold Intercepts at Spring Valley Project, Nevada

DENVER–(BUSINESS WIRE)– Midway Gold Corp. (“Midway” or the “Company”) (MDW:TSX-V; MDW:NYSE-AMEX) announces second quarter results calculated from data provided by Barrick Gold Exploration Inc. (“Barrick”), who is earning into Midway’s Spring Valley Project, Nevada. Drill results are from holes that test the northern extent of the known resource and holes that test the area acquired late last year that is to the south of the known resource. The drilling reported in this press release shows gold assays extend the gold zone at least 1.7 kilometers to the southwest of the previously known resource area over a width of approximately 0.5 kilometers.

In the north, long and high grade gold intercepts extend northward the gold zone hosted in feldspar porphyry and include 201 meters of 0.82 grams per tonne (gpt) gold in SV11-515; and 94 meters of 1.06 gpt gold in SV11-517. In the same area, SV11-514 encountered multiple intercepts including 47 meters of 0.72 gpt gold and 18 meters of 1.20 gpt gold. Higher grade intercepts included 1.5 meters of 7.30 gpt gold and 1.5 meters of 6.89 gpt gold in SV11-514, and 9.1 meters of 4.70 gpt gold in SV11-515.

In the south, reconnaissance drilling in widely spaced holes beginning immediately adjacent to the resource area extends the potential for mineralization to an area 1.7 km long by 0.5 km wide for a total strike length of more than 3.5 kilometers long, including the known resource reported last year. Initial results, along with results from SV10-499 reported earlier, suggest that a widespread gold system may exist on land acquired in 2010. The most recent hole drilled furthest to the south, SV11-534, encountered 30.5 meters of 0.89 gpt gold. Higher grade intercepts included 1.5 meters of 15.91 gpt gold in SV11-521, 1.5 meters of 9.46 gpt gold in SV11-530, and 4.6 meters of 7.47 gpt gold in SV11-534. Assays are pending on additional holes in this area.

“We are very pleased to report these long and high grade gold intercepts which expand Spring Valley’s resource potential in two directions. We are particularly pleased about the gold intercepts found south of the resource area on the lands acquired late last year that had not been drilled,” said Ken Brunk, President and COO of Midway. “Spring Valley has the ear marks of a world class gold system. Additional drilling will be needed to confirm the findings of this widely spaced program.”

Spring Valley is a large, porphyry-hosted gold system. A May, 2011 updated resource estimate reported 2.16 million ounces of gold in the combined Measured and Indicated categories at a cut-off grade of 0.14 gpt. There is an additional Inferred resource of 1.97 million ounces of gold at the same cut-off grade. The Measured resource is 0.93 million ounces contained within 59.0 million tonnes grading 0.49 gpt, the Indicated resource is 1.23 million ounces contained within 85.8 million tonnes grading 0.45 gpt, and the Inferred resource is contained within 103.9 million tonnes grading 0.59 gpt. The estimate was prepared for Midway by Gustavson Associates, LLC of Lakewood, Colorado (Midway press release dated May 2, 2011).

Reverse circulation drilling was conducted by Hard Rock Drilling of Elko, Nevada. Core drilling was conducted by TonaTec Exploration of Mapleton, Utah. Drill hole numbers ending with a “C” indicate core holes. Samples were assayed by ALS-Chemex Labs, in Sparks, Nevada by 30-gram fire assays (FA) or 1000-gram metallic screen assays (MS). Results reported represent thickness along the trace of the drill hole and do not necessarily represent true thickness.

Please click on the following link to view the Spring Valley Q2 Drill Holes and Results:
http://www.usetdas.com/pr/midwaypicture08252011.jpg

Drilling for 2011 commenced in early April and there is currently one reverse circulation (RC) rig and one core rig operating on the property. A total of 7,079 meters of RC and 2,363 meters of core in 24 holes were completed through June. Results reported in this news release include core holes SV10-503c and SV10-504c that were drilled at the end of 2010. Hole SV10-507c was started in 2010 and completed in 2011 (See table above). Final metallic screen assay results have been received for 5 holes, the remaining assay results are from preliminary fire assays. Metallic screen assays analyze a larger quantity of the sample and are more reliable when coarse gold is present.

Barrick can earn a 60% interest in the project by completing work expenditures totaling US$30 million before December 31, 2013 under the terms of an agreement executed between Midway and Barrick on March 9, 2009. Barrick has informed Midway that it intends to conduct and fund the required program of US$7 million in 2011, resulting in cumulative expenditures of US$16 million by December 31, 2011.

Data reported to Midway by Barrick and disclosed in this press release have been reviewed for Midway by William S. Neal, (M.Sc., CPG), a “Qualified Person” as that term is defined in National Instrument 43-101.

ON BEHALF OF THE BOARD
“Kenneth A. Brunk”
Kenneth A. Brunk, President, COO and Director

About Midway Gold Corp.

Midway Gold Corp. is a precious metals company with a vision to explore, design, build, and operate gold mines in a manner accountable to all stakeholders while producing an acceptable return to its shareholders. For more information about Midway, please visit our website at www.midwaygold.com or contact R.J. Smith, Vice President of Administration, at (877) 475-3642 (toll-free).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include, but are not limited to, statements about the Company’s intended work plans for the Spring Valley project and resource estimates. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company’s actual results or achievements to differ materially from those expressed in or implied by forward looking statements. These risks, uncertainties and other factors include, without limitation, risks related to the timing and completion of the Company’s intended work plans for the Spring Valley project, risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company’s properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources and reserves; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; and other factors identified in the Company’s SEC filings and its filings with Canadian securities regulatory authorities. Forward-looking statements are based on the beliefs, opinions and expectations of the Company’s management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.

Cautionary note to U.S. investors concerning estimates of reserves and resources: This press release and the technical report referred to in this press release use the terms “resource”, “reserve”, “measured resources”, “indicated resources” and “inferred resources”, which are terms defined under Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. Estimates of mineral resources in this press release and in the technical report referred to in this press release have been prepared in accordance with NI 43-101 and such definitions differ from the definitions in U.S. Securities and Exchange Commission (“SEC”) Industry Guide 7. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. Mineral resources are not mineral reserves and do not have demonstrated economic viability. We advise investors that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves as defined in the SEC’s Guide 7. In addition, “inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit measures. It cannot be assumed that all or any part of mineral deposits in any of the above categories will ever be upgraded to Guide 7 compliant reserves. Accordingly, disclosure in this press release and in the technical reports referred to in this press release may not be comparable to information from U.S. companies subject to the reporting and disclosure requirements of the SEC.

U.K. Asset Management and Financing Group Signs Agreement to Implement NetSol’s (NTWK) Leasesoft Asset Software

CALABASAS, Calif. ,  Aug. 24, 2011  (GLOBE NEWSWIRE) —  NetSol Technologies, Inc.  (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today announced that it has signed an agreement to implement its Leasesoft Asset system for an Asset Management and  Financing Company  that provides business finance and leasing to clients across industries throughout the  United Kingdom .

“This contract was deferred from the last fiscal year, but customers are continuing to regain confidence in the company’s ability to provide robust and cost-effective solutions despite geopolitical pressures,” said  Naeem Ghauri , president of NetSol Americas and  Europe . “We are seeing increasing evidence in the  U.K.  that more companies in the business financing and leasing arena are interested in reinvesting in our systems, and the selection of  NetSol  for this project underscores our experience and leadership in the  U.K.  market.”

The name of the company and total value of the agreement were not disclosed as per the customer’s request, although  NetSol  said the contract includes product licenses, business processes consultancy and on-site implementation services. Additional revenue streams include maintenance,support and product enhancements.  NetSol  anticipates recognizing revenues for the entire value of the contract by  June 30, 2012 .

About  NetSol Technologies

NetSol Technologies, Inc.  (
www.netsoltech.com) is a worldwide provider of global IT and enterprise application solutions that include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, Insurance, Energy, and Technology markets. Headquartered in  Calabasas, Calif. ,  NetSol’s  product and services offerings have achieved ISO 9001, ISO 20000, ISO 27001, and SEI ( Software Engineering Institute ) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by only 178 companies worldwide. The company’s clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies.  Netsol  has delivery and support locations in  San Francisco ,  London ,  Beijing ,  Bangkok ,  Lahore ,  Adelaide  and  Riyadh .

Investors can receive news releases and invitations to special events by accessing our online signup form at
http://bit.ly/NetSol_Investor_Signup_Form.

The  NetSol Technologies, Inc.  logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=9832

Forward-Looking Statements

This press release may contain forward-looking statements relating to the development of the Company’s products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The word “anticipates,” variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company’s actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.

CONTACT:  PondelWilkinson Inc.   Evan Pondel  (310) 279-5973 investors@netsoltech.com

SIGA (SIGA) Awarded a $7.7 Million Grant for the Development of Antiviral Drugs for Arenaviruses

NEW YORK, Aug 24, 2011 (GlobeNewswire via COMTEX) — SIGA Technologies, Inc. (SIGA), a company specializing in the development of pharmaceutical agents to fight bio-warfare pathogens, announced today that it has been awarded a $7.7 million grant from the National Institutes of Health (NIH) to develop an antiviral drug for treating and preventing Lassa fever and other hemorrhagic fevers of Arenavirus origin.

Dr. Eric A. Rose, SIGA’s Chairman and Chief Executive Officer, commented, “This grant is a continuation of our vibrant, long-term relationship with NIH, and it highlights the strength and diversity of our drug development program.”

Dr. Dennis Hruby, SIGA’s Chief Scientific Officer, added, “This grant is similar to the $6.5 million grant for dengue fever drug development awarded to SIGA in May in that both grants are expected to fund development activities that will lead to an investigational new drug application (“IND”) that SIGA can file with the FDA.”

About SIGA Technologies, Inc.

In the United States and around the world, populations face a serious but unmet need for drugs to protect against potentially catastrophic emerging viral pathogens and biological weapons of mass destruction. SIGA Technologies, Inc. is a pharmaceutical company specializing in the development and commercialization of therapeutic solutions for some of the most lethal disease-causing pathogens in the world, including smallpox, Ebola, dengue, Lassa fever and other dangerous viruses. Our business is to discover, develop and commercialize drugs to prevent and treat these high-priority threats. Our mission is to disarm dreaded viral diseases and create robust, modern biodefense countermeasures. For more information about SIGA, please visit SIGA’s web site at www.siga.com.

The SIGA Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4504

Forward-looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements relating to the safety and efficacy of its current or anticipated products, the progress of its development programs and timelines for bringing products to market. Forward-looking statements are based on management’s estimates, assumptions and projections, and are subject to uncertainties, many of which are beyond the control of SIGA. Actual results may differ materially from those anticipated in any forward-looking statement. Factors that may cause such differences include (i) the risk that potential products that appear promising to SIGA or its collaborators cannot be shown to be efficacious or safe in subsequent pre-clinical or clinical trials, (ii) the risk that SIGA or its collaborators will not obtain appropriate or necessary governmental approvals to market these or other potential products, (iii) the risk that SIGA may not be able to obtain anticipated funding for its development projects or other needed funding, (iv) the risk that SIGA may not be able to secure funding from anticipated or current government contracts and grants, (v) the risk that SIGA may not be able to secure or enforce sufficient legal rights in its products, including patent protection, (vi) the risk that any challenge to our patent and other property rights, if adversely determined, could affect our business and, even if determined favorably, could be costly, (vii) the risk that regulatory requirements applicable to SIGA’s products may result in the need for further or additional testing or documentation that will delay or prevent seeking or obtaining needed approvals to market these products, (viii) the risk that one or more protests may be filed or upheld under any government contract or grant in whole or in part, leading to a delay or denial of the contract or grant, (ix) the risk that the volatile and competitive nature of the biotechnology industry may hamper SIGA’s efforts, (x) the risk that the changes in domestic and foreign economic and market conditions may adversely affect SIGA’s ability to advance its research or its products, and (xi) the effect of federal, state, and foreign regulation, including drug regulation and international trade regulation, on SIGA’s businesses. More detailed information about SIGA and risk factors that may affect the realization of forward-looking statements, including the forward-looking statements in this presentation, is set forth in SIGA’s filings with the Securities and Exchange Commission, including SIGA’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010, and in other documents that SIGA has filed with the SEC. SIGA urges investors and security holders to read those documents free of charge at the SEC’s Web site at http://www.sec.gov. Interested parties may also obtain those documents free of charge from SIGA. Forward-looking statements speak only as of the date they are made, and except for our ongoing obligations under the federal securities laws, we undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future events or otherwise.

ATP (ATPG) Delivers Production Success From Third Well at Telemark Hub

ATP Oil & Gas Corporation (NASDAQ:ATPG) today announced first oil production at its Mississippi Canyon (“MC”) Block 941 A-2 (#4) well in the deepwater Gulf of Mexico. The MC Block 941 A-2 well is located on the Mirage Field and is the third well brought on production at the Telemark Hub location utilizing the ATP Titan floating drilling and production platform. The well delivered on ATP’s original expectations with an initial rate exceeding 7,000 Boe per day. When drilled, the A-2 well encountered four Miocene sands that are approximately 500 feet structurally higher than the same sands in the MC 941 A-1 well. The A-2 well is completed at a measured depth of 17,600 feet in the C and D sands. All permits to immediately begin drilling the fourth well, MC 942 #2, have been approved with production projected later this year. Company-wide production now exceeds 31,000 Boe per day.

“Bringing the third Telemark Hub well to first production again demonstrates ATP’s technical expertise and safe operations in the deepwater Gulf of Mexico,” said T. Paul Bulmahn, ATP Chairman and CEO. “We have finally realized the planned material production revenue of this well that has been much anticipated for 16 months. This well was already drilled to 12,000 feet and cased prior to the Macondo spill and became subject to the moratorium. The greater-than-a-billion-dollar investment at Telemark reflects ATP’s continuing commitment to develop America’s energy resources.”

ATP operates the deepwater Telemark Hub in approximately 4,000 feet of water with a 100% working interest and holds a 100% ownership in ATP Titan LLC which owns the ATP Titan and associated pipelines and infrastructure.

About ATP Oil & Gas Corporation

ATP Oil & Gas is an international offshore oil and gas development and production company focused in the Gulf of Mexico, Mediterranean Sea and North Sea. The company trades publicly as ATPG on the NASDAQ Global Select Market. For more information about ATP Oil & Gas Corporation, visit www.atpog.com.

Forward-looking Statements

Certain statements included in this news release are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. ATP cautions that assumptions, expectations, projections, intentions, or beliefs about future events may, and often do, vary from actual results and the differences can be material. Some of the key factors which could cause actual results to vary from those ATP expects include changes in natural gas and oil prices, the timing of planned capital expenditures, availability of acquisitions, uncertainties in estimating proved reserves and forecasting production results, operational factors affecting the commencement or maintenance of producing wells, the condition of the capital markets generally, as well as the company’s ability to access them, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting ATP’s business. More information about the risks and uncertainties relating to ATP’s forward-looking statements is found in the company’s SEC filings.

SOURCE: ATP Oil & Gas Corporation

ATP Oil & Gas Corporation, Houston
T. Paul Bulmahn, 713-622-3311
Chairman and CEO
or
Albert L. Reese Jr., 713-622-3311
Chief Financial Officer
www.atpog.com

EDAP (EDAP) Partnership Wins EUR 2.4 Million Grant

LYON, France, Aug. 24, 2011 (GLOBE NEWSWIRE) — EDAP TMS SA (Nasdaq:EDAP), the global leader in therapeutic ultrasound, announced today that its development partnership has been awarded a EUR 2.4 million grant for further development of Ablatherm-HIFU technology to incorporate improved imaging and diagnostic techniques in line with the focal therapy approach for treating localized prostate cancer. The development partnership, comprised of EDAP, Edouard Herriot Hospital, and SuperSonic Imagine, received the highly competitive grant from Fonds Unique Interministerial (FUI), a French government fund for advancing technical innovation with short and midterm market applications, together with Regional Councils Grand Lyon, PACA, Competitive Clusters Lyonbiopole and Eurobiomed.

Emmanuel Blanc, Chief Technical Officer of EDAP, commented, “Prostate cancer is a multi-focal disease and precise detection of all cancer foci remains a significant challenge in the focal treatment for prostate cancer. The project aims at matching the precision of Ablatherm-HIFU with next generation diagnostic and imaging techniques, combining MRI detection for patient selection with advanced ultrasound imaging for real time monitoring and efficacy control.”

The Edouard Herriot University Hospital is a long term partner of EDAP and brings to the venture sound clinical experience in the HIFU treatment of prostate cancer, as well as a strong expertise in radiology practice, including MRI and contrast-enhanced ultrasound. SuperSonic Imagine is a recognized leader in advanced ultrasound techniques and has developed a unique elastography platform with the capability to provide true local assessment of tissue elasticity.

Marc Oczachowski, Chief Executive Officer of EDAP, concluded, “We are proud that our partnership won this grant, as it is another strong recognition and validation of EDAP as the leading player in the development of HIFU. This project, aimed at developing better imaging solutions that will be integrated in our device, will help advance the focal therapy approach for the prostate cancer treatment. It will strengthen Ablatherm-HIFU’s position as the premier gold standard for the non-invasive treatment of prostate cancer in line with current and future therapeutic strategies.”

About EDAP TMS SA

EDAP TMS SA develops and markets Ablatherm(R), the most advanced and clinically proven choice for high-intensity focused ultrasound (HIFU) treatment of localized prostate cancer. HIFU treatment is shown to be a minimally invasive and effective treatment option with a low occurrence of side effects. Ablatherm-HIFU is generally recommended for patients with localized prostate cancer (stages T1-T2) who are not candidates for surgery or who prefer an alternative option, or for patients who failed radiotherapy treatment. Approved in Europe as a treatment for prostate cancer, Ablatherm-HIFU (High Intensity Focused Ultrasound) is currently undergoing evaluation in a multi-center U.S. Phase II/III clinical trial under an Investigational Device Exemption (IDE) granted by the FDA, the ENLIGHT U.S. clinical study. The Company also is developing this technology for the potential treatment of certain other types of tumors. EDAP TMS SA also produces and commercializes medical equipment (the Sonolith(R) range) for treatment of urinary tract stones using extra-corporeal shockwave lithotripsy (ESWL).

For more information on the Company, please visit http://www.edap-tms.com, and http://www.hifu-planet.com.

About SuperSonic Imagine

Founded in 2005 and based in Aix-en-Provence, France, SuperSonic Imagine is an innovative, multinational medical imaging company dedicated to developing a revolutionary ultrasound system: the Aixplorer(R). This system leverages a unique MultiWave(TM) technology that enables the user to detect, characterize and, in the future, treat palpable and non-palpable masses. This unique technology is based on combining two types of waves: an ultrasound wave that provides exceptional imaging in B-mode, and a shear wave which measures and displays the stiffness of tissue in kilopascals (ShearWave Elastography(TM)). The company now has offices in Aix-en-Provence, Seattle, London and Munich. SuperSonic Imagine holds the exclusive right, title and interest to 25 international patents and submissions in diagnostic imaging and therapy applications.

www.supersonicimagine.com

About Edouard Herriot Hospital

Edouard Herriot Hospital is a University Hospital based in Lyon and owned by Hospices Civils de Lyon (HCL). HCL is a Group owning several hospitals and clinics in the Lyon area.

www.chu-lyon.fr

About Grand Lyon

Grand Lyon is the Greater Lyon Urban Community with prominent responsibilities to promote economic development in the region and support innovation through competitive clusters.

www.business.greaterlyon.com

About Lyonbiopole

Lyonbiopole is a world competitive cluster accredited in 2005. Center of Excellence in vaccines and diagnostics, it is focused on the fight against human and animal infectious diseases and cancers. Since inception, Lyonbiopole’s main mission is to stimulate public and private R & D collaborations.

www.lyonbiopole.org

About Eurobiomed

Eurobiomed is a non-for-profit organisation which has been accredited by the French government as one of the eight Biotech & Pharma “Competitive Clusters” in France. Eurobiomed federates healthcare stakeholders in “Provence-Alpes-Cote d’Azur” and “Languedoc-Roussillon” counties.

www.eurobiomed.org

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements that involve risks and uncertainties. These include statements regarding the Company’s growth and expansion plans, the conclusiveness of the results of and success of its Ablatherm-HIFU clinical trials, expectations regarding the IDE submission to and approval by the FDA of the Ablatherm-HIFU device and the market potential for the Sonolith i-move device. Such statements are based on management’s current expectations and are subject to a number of uncertainties, including the uncertainties of the regulatory process, and risks that could cause actual results to differ materially from those described in these forward-looking statements. Factors that may cause such a difference include, but are not limited to, those described in the Company’s filings with the Securities and Exchange Commission and in particular, in the sections “Cautionary Statement on Forward-Looking Information” and “Risk Factors” in the Company’s Annual Report on Form 20-F. Ablatherm-HIFU treatment is in clinical trials, but not FDA-approved or marketed in the United States.

Blandine Confort
Investor Relations / Legal Affairs
EDAP TMS SA
+33 4 72 15 31 72
bconfort@edap-tms.com
Investors:
Stephanie Carrington
The Ruth Group
646-536-7017
scarrington@theruthgroup.com

IMRIS (IMRS) Sells IMRISneuro and iCT Systems to a Single U.S. Customer

WINNIPEG, Aug. 24, 2011 /PRNewswire/ – IMRIS Inc. (NASDAQ: IMRS; TSX: IM) (“IMRIS” or the “Company”) today announced the sale of two systems, consisting of an IMRISneuro and an iCT system to a single confidential U.S. customer during the first 45 days of the third quarter ending September 30, 2011.

The installation will include an IMRISneuro system delivering on demand intraoperative MR imaging and an iCT system that will provide intraoperative computed tomography imaging capabilities.

About IMRIS

IMRIS (NASDAQ: IMRS; TSX: IM) is a global leader in providing image guided therapy solutions. These solutions feature fully integrated surgical and interventional suites that incorporate magnetic resonance, fluoroscopy and computed tomography to deliver on demand imaging during procedures. The Company’s systems serve the neurosurgical, cardiovascular and neurovascular markets and have been selected by leading medical institutions around the world.

Peregrine (PPHM) Reports Promising 20.7 Month Median Overall Survival From Phase II Advanced Breast Cancer Trial

TUSTIN, CA — (Marketwire) — 07/14/11 — Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM), a clinical-stage biopharmaceutical company developing first-in-class monoclonal antibodies for the treatment of cancer and viral infections, today announced financial results for the fourth quarter and fiscal year (FY) 2011 ended April 30, 2011 and provided an update on its advancing clinical pipeline and other corporate developments.

“During this fiscal year, we advanced our clinical pipeline significantly by reporting promising clinical data from five trials and launching four new randomized Phase II trials and four investigator-sponsored trials for our lead clinical product bavituximab, building for what we expect to be an exciting fiscal year 2012,” said Steven W. King, president and chief executive officer of Peregrine. “Our primary focus for the second half of this year is to continue advancing our three Phase II clinical programs for bavituximab and Cotara® and to reach important and potentially value-building clinical and regulatory milestones. This effort will be led by our management team, which has been expanded with additional clinical, quality, and manufacturing experts with experience in developing and commercializing biological therapies similar to our bavituximab and Cotara programs.”

Clinical Program Update

Bavituximab Clinical Trials

In four ongoing randomized Phase II trials, Peregrine is evaluating bavituximab’s broad therapeutic potential in non-small cell lung cancer, pancreatic cancer, and hepatitis C virus (HCV) infections. Bavituximab is a first-in-class monoclonal antibody that targets the highly immunosuppressive molecule phosphatidylserine (PS), enabling the immune system to recognize and fight cancer and viral infections.

--  Phase II front-line NSCLC trial evaluating bavituximab with carboplatin
    and paclitaxel versus carboplatin and paclitaxel.  Enrollment of up to
    86 patients is expected to be completed over the next few weeks with
    interim data expected by the end of this year.  Last month, Peregrine
    reported promising 12.4 months median overall survival (OS) from a
    prior single-arm Phase II trial using this same therapeutic regimen in
    49 front-line NSCLC patients.  The OS was consistent with encouraging
    earlier data, including 43% objective response rate (ORR) and 6.1
    months median progression-free survival (PFS).  These data exceed the
    10.3 month OS, 15% ORR, and 4.5 months PFS reported from a separate
    historic control trial evaluating carboplatin and paclitaxel alone in a
    similar patient population.

--  Phase II second-line non-small cell lung cancer (NSCLC) trial
    evaluating bavituximab with docetaxel versus docetaxel plus placebo.
    Peregrine has modified patient enrollment criteria and has 37 sites
    open in the U.S. and internationally and expects to complete enrollment
    of up to 120 patients early in the fourth quarter of this year.  The
    primary endpoint for this study is overall response rate and these data
    are expected to be unblinded in the first half of 2012.  Secondary
    endpoints include median OS and median PFS.

--  Phase II pancreatic cancer trial evaluating bavituximab with
    gemcitabine versus gemcitabine is currently enrolling up to 70 patients
    with previously untreated stage IV pancreatic cancer.

--  Phase II trial in patients with previously untreated genotype-1
    hepatitis C virus (HCV) infection, Peregrine is measuring the early
    virologic response (EVR) rate after 12 weeks of therapy with
    bavituximab in combination with ribavirin versus standard of care,
    pegylated interferon alpha 2a and ribavirin.

To further evaluate bavituximab’s broad potential in additional oncology indications and therapeutic combinations, Peregrine’s investigator-sponsored trials (IST) program has four currently enrolling clinical trials.

--  Phase I/II trial evaluating bavituximab combined with sorafenib in
    approximately 50 patients with advanced liver cancer.  This IST is
    being conducted at University of Texas Southwestern Medical Center.

--  Phase I/II trial evaluating bavituximab combined with cabazitaxel in 31
    patients with second-line castration resistant prostate cancer (CRPC).
    This IST is being conducted at the University of California, Irvine.

--  Phase Ib trial evaluating bavituximab combined with pemetrexed and
    carboplatin in up to 25 front-line NSCLC patients.  This IST is being
    conducted at the University of North Carolina at Chapel Hill.

--  Phase I trial evaluating bavituximab combined with paclitaxel in
    patients with HER2-negative metastatic breast cancer.  This IST is
    being conducted at the Arizona Cancer Center at UMC North.

Cotara® Phase II Brain Cancer Program

At the Annual Meeting of the American Society of Clinical Oncology (ASCO) in June, Peregrine reported promising interim OS data of 8.8 months (38 weeks) from a Phase II trial treating 41 patients with recurrent glioblastoma multiforme (GBM) with a single infusion of Cotara. Cotara is a targeted monoclonal antibody linked to a radioisotope that is administered as a single-infusion treatment directly into the tumor, destroying the tumor from the inside out, with minimal exposure to healthy tissue. Peregrine plans to meet with the FDA in the fourth quarter of 2011 to determine the optimal registration pathway for Cotara.

For more information on Peregrine’s clinical trials, please visit http://www.peregrinetrials.com.

Preclinical Research

At a keynote address at the Informa Life Sciences Recombinant Antibodies Conference in May, Dr. Philip Thorpe, inventor of Peregrine’s PS-targeting antibody technology, presented new data on the immune reactivation mechanisms of bavituximab.

At the Annual meeting of the American Association for Cancer Research in April, Peregrine and its collaborators presented four posters highlighting the broad therapeutic and diagnostic potential of bavituximab and other PS-targeting antibodies.

Financial Results

Total revenues for the fourth quarter of FY 2011 were $2,729,000, compared to $4,420,000 for the same quarter of the prior fiscal year. For FY 2011, total revenues were $13,492,000, compared to $27,943,000 for the prior year. The decrease was primarily attributed to a reduction in government contract revenue and lower contract manufacturing revenue from Peregrine’s subsidiary Avid Bioservices, due to a decrease in number of completed manufacturing runs for its third-party clients and the timing of lot release to clients.

Contract manufacturing revenues from Avid’s clinical and commercial biomanufacturing services provided to its third-party clients were $8,502,000 for fiscal year 2011, within Peregrine’s previous guidance range, compared to $13,204,000 for fiscal year 2010. Peregrine expects contract manufacturing revenues for fiscal year 2012 to be in-line with fiscal year 2011. In addition to providing biomanufacturing services to its clients, Avid will continue to utilize available capacity and resources to continue its preparation for later-stage clinical development and potential commercialization of bavituximab and Cotara.

Total costs and expenses in the fourth quarter of FY 2011 were $12,683,000, compared to $11,989,000 in the fourth quarter of FY 2010. For FY 2011, total costs and expenses were $48,179,000, compared to $41,556,000 for the prior fiscal year. This increase primarily was attributable to higher research and development costs to support Peregrine’s advancing randomized Phase II clinical trials for bavituximab and higher general and administrative expenses needed to support later-stage clinical development. For the fourth quarter FY 2011, research and development expenses were $7,998,000, compared to $7,130,000 for the fourth quarter of FY 2010, and for FY2011 were $29,462,000, compared to $24,658,000 for FY 2010.

Peregrine’s consolidated net loss was $10,014,000, or $0.15 per share, for the fourth quarter of FY 2011, compared to a net loss of $7,741,000 or $0.16 per share, for the same quarter of the prior year. For FY 2011, net loss was $34,151,000, or $0.56 per share, compared to $14,494,000, or $0.30 per share, for FY 2010.

Peregrine reported $23,075,000 in cash and cash equivalents at April 30, 2011, compared to $24,068,000 at January 31, 2011 and $19,681,000 at fiscal year ended April 30, 2010.

More detailed financial information and analysis may be found in Peregrine’s Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission today.

Conference Call

Peregrine will host a conference call and webcast today, July 14, 2011, at 4:30 p.m. EDT (1:30 p.m. PDT).

--  To listen to the live webcast or access the archived webcast available
    for 30 days, please visit: http://ir.peregrineinc.com/events.cfm.
--  To listen to the conference call, please call (877) 312-5443 or
    (253) 237-1126 and request the Peregrine Pharmaceuticals call. A replay
    of the call will be available starting approximately two hours after
    the conclusion of the call through July 28, 2011 by calling
    (800) 642-1687 or (706) 645-9291 and using passcode 79032398.

About Peregrine Pharmaceuticals

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative monoclonal antibodies in clinical trials for the treatment of cancer and serious viral infections. The company is pursuing multiple clinical programs in cancer and hepatitis C virus infection with its lead product candidate bavituximab and novel brain cancer agent Cotara®. Peregrine also has in-house cGMP manufacturing capabilities through its wholly-owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and biomanufacturing services for both Peregrine and outside customers. Additional information about Peregrine can be found at www.peregrineinc.com.

Safe Harbor Statement: Statements in this press release which are not purely historical, including statements regarding Peregrine Pharmaceuticals’ intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk the company may experience delays in clinical trial patient enrollment, the risk that the results of the Phase II clinical trials may not correlate with the results from prior clinical and preclinical studies, the risk that the company may not have or be able to raise sufficient financial resources to complete the Phase II trials, the risk that Avid’s revenue growth may slow or decline, the risk that Avid may experience technical difficulties in processing customer orders which could delay delivery of products to customers and receipt of payment, and the risk that one or more existing Avid customers terminates its contract prior to completion. It is important to note that the Company’s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties associated with completing preclinical and clinical trials for our technologies; the early stage of product development; the significant costs to develop our products as all of our products are currently in development, preclinical studies or clinical trials; obtaining additional financing to support our operations and the development of our products; obtaining regulatory approval for our technologies; anticipated timing of regulatory filings and the potential success in gaining regulatory approval and complying with governmental regulations applicable to our business. Our business could be affected by a number of other factors, including the risk factors listed from time to time in the company’s SEC reports including, but not limited to, the annual report on Form 10-K for the fiscal year ended April 30, 2011. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Peregrine Pharmaceuticals, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.

PEREGRINE PHARMACEUTICALS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS

                         Three Months Ended         Twelve Months Ended
                              April 30,                  April 30,
                         2011          2010         2011          2010
                     ------------  -----------  ------------  ------------
                       unaudited    unaudited
REVENUES:
Contract
 manufacturing
 revenue             $  1,970,000  $ 2,881,000  $  8,502,000  $ 13,204,000
Government contract
 revenue                  681,000    1,461,000     4,640,000    14,496,000
License revenue            78,000       78,000       350,000       243,000
                     ------------  -----------  ------------  ------------
     Total revenues     2,729,000    4,420,000    13,492,000    27,943,000

COSTS AND EXPENSES:
Cost of contract
 manufacturing          1,411,000    2,229,000     7,296,000     8,716,000
Research and
 development            7,998,000    7,130,000    29,462,000    24,658,000
Selling, general and
 administrative         3,274,000    2,630,000    11,421,000     8,182,000
                     ------------  -----------  ------------  ------------

     Total costs and
      expenses         12,683,000   11,989,000    48,179,000    41,556,000
                     ------------  -----------  ------------  ------------

LOSS FROM OPERATIONS   (9,954,000)  (7,569,000)  (34,687,000)  (13,613,000)
                     ------------  -----------  ------------  ------------

OTHER INCOME
 (EXPENSE):
Interest and other
 income                    18,000       20,000     1,052,000       116,000
Interest and other
 expense                  (78,000)    (192,000)     (516,000)     (997,000)
                     ------------  -----------  ------------  ------------

NET LOSS             $(10,014,000) $(7,741,000) $(34,151,000) $(14,494,000)
                     ============  ===========  ============  ============

WEIGHTED AVERAGE
 COMMON SHARES
 OUTSTANDING:
     Basic and
      Diluted          68,293,847   51,863,157    60,886,392    49,065,322
                     ============  ===========  ============  ============

BASIC AND DILUTED
 LOSS  PER COMMON
 SHARE               $      (0.15) $     (0.16) $      (0.56) $      (0.30)
                     ============  ===========  ============  ============

PEREGRINE PHARMACEUTICALS, INC.
CONSOLIDATED BALANCE SHEETS
AS OF APRIL 30, 2011 AND 2010

                                                      2011         2010
                                                  -----------  -----------
ASSETS

CURRENT ASSETS:
Cash and cash equivalents                         $23,075,000  $19,681,000
Trade and other receivables, net                    1,389,000    1,481,000
Government contract receivables                        93,000      367,000
Inventories, net                                    5,284,000    3,123,000
Debt issuance costs, current portion                   21,000      122,000
Prepaid expenses and other current assets, net        953,000    2,004,000
                                                  -----------  -----------

     Total current assets                          30,815,000   26,778,000

PROPERTY:
Leasehold improvements                                932,000      697,000
Laboratory equipment                                4,391,000    4,221,000
Furniture, fixtures, office equipment and
 software                                           1,814,000      917,000
                                                  -----------  -----------

                                                    7,137,000    5,835,000
Less accumulated depreciation and amortization     (4,928,000)  (4,366,000)
                                                  -----------  -----------

     Property, net                                  2,209,000    1,469,000

Debt issuance costs, less current portion                   -       21,000
Other assets                                        1,742,000    1,067,000
                                                  -----------  -----------

TOTAL ASSETS                                      $34,766,000  $29,335,000
                                                  ===========  ===========

PEREGRINE PHARMACEUTICALS, INC.
CONSOLIDATED BALANCE SHEETS
AS OF APRIL 30, 2011 AND 2010 (continued)

                                                    2011          2010
                                                ------------  ------------
LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
Accounts payable                                $  4,046,000  $  3,434,000
Accrued clinical trial and related fees            2,292,000     1,308,000
Accrued payroll and related costs                  1,455,000     1,623,000
Notes payable, current portion and net of
 discount                                          1,321,000     1,893,000
Deferred revenue, current portion                  5,617,000     2,406,000
Deferred government contract revenue                       -        78,000
Customer deposits                                  1,759,000     2,618,000
Other current liabilities                          1,189,000       685,000
                                                ------------  ------------
     Total current liabilities                    17,679,000    14,045,000

Notes payable, less current portion and net of
 discount                                                  -     1,315,000
Deferred revenue, less current portion               632,000             -
Other long-term liabilities                        1,037,000       568,000
Commitments and contingencies

STOCKHOLDERS' EQUITY:
Preferred stock - $.001 par value; authorized
 5,000,000 shares; non-voting; none issued                 -             -
Common stock - $.001 par value; authorized
 325,000,000 shares; outstanding - 69,837,142
 and 53,094,896, respectively                         70,000        53,000
Additional paid-in-capital                       311,353,000   275,208,000
Accumulated deficit                             (296,005,000) (261,854,000)
                                                ------------  ------------
     Total stockholders' equity                   15,418,000    13,407,000
                                                ------------  ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY      $ 34,766,000  $ 29,335,000
                                                ============  ============

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Contact:
Amy Figueroa
Peregrine Pharmaceuticals
(800) 987-8256
info@peregrineinc.com

Seven Arts Pictures (SAPX) Announces US Release of “The Pool Boys”

LOS ANGELES, CA — (Marketwire) — 08/17/11 — Seven Arts Pictures PLC (NASDAQ: SAPX) (“Seven Arts”) today announced it has finalized plans for the US release of “The Pool Boys” (the “Film”). Cinedigm Entertainment Group (NASDAQ: CIDM) (“Cinedigm”) will release the Film theatrically on between 75 to 100 screens in the top fifty markets on September 30, 2011. Entertainment One (“eOne”), which acquired North American home entertainment and digital rights for the Film, will then release “The Pool Boys” on DVD, Blu-ray and digital platforms in December.

“The Pool Boys” is the hilarious new comedy from the makers of “American Pie.” Starring Matthew Lillard, Brett Davern, Efren Ramirez, Rachel LeFevre and Tom Arnold, the film chronicles the playful mischief that results when a pool boy and a gardener and some women practicing the world’s oldest profession throw a massive party in the empty home of one of their clients.

“We are thrilled to have put together such an exciting team for the release of ‘Pool Boys,'” said Peter Hoffman, CEO of Seven Arts. “All of our partners on this release are working together on an innovative release that will really get our film seen by its target audience. We couldn’t be more pleased.”

“We look forward to using Cinedigm’s precision marketing and digital cinema distribution capabilities to bring ‘The Pool Boys’ directly to targeted audiences across the nation,” said Jonathan Dern, President of Cinedigm.

Entertainment One’s U.S. President Michael E. Rosenberg said, “eOne is excited to be partnering with Seven Arts on ‘Pool Boys,’ and are thrilled to bring this uproarious comedy to home viewing audiences.”

About Seven Arts: Seven Arts Pictures PLC was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production, and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television.

About eOne: Entertainment One Ltd. (LSE: ETO) is a leading international entertainment company that specializes in the acquisition, production and distribution of film and television content. The company’s comprehensive network extends around the globe including Canada, the U.S., the UK, Ireland, Benelux, France, Germany, Scandinavia, Australia, New Zealand and South Africa. Through established Entertainment and Distribution divisions, the company provides extensive expertise in film distribution, television and music production, family programming and merchandising and licensing. Its current rights library is exploited across all media formats and includes more than 20,000 film and television titles, 2,500 hours of television programming and 45,000 music tracks.

About Cinedigm: Cinedigm is a leader in providing the services, experience, technology and content critical to transforming movie theatres into digital and networked entertainment centers. The Company partners with Hollywood movie studios, independent movie distributors, and exhibitors to bring movies in digital cinema format to audiences across the country. Cinedigm’s digital cinema deployment organization, software, satellite and hard drive digital movie delivery network; pre-show in-theatre advertising services; and marketing and distribution platform for alternative content such as CineLive® 3D and 2D sports and concerts, thematic programming and independent movies is a cornerstone of the digital cinema transformation. Cinedigm™ and Cinedigm Digital Cinema Corp™ are trademarks of Cinedigm Digital Cinema Corp. www.cinedigm.com [CIDM-G]

Cautionary Information Regarding Forward-Looking Statements: Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from the anticipated.

Contact:

Seven Arts Pictures PLC US contact:
Peter Hoffman
+1 323 372 3080
phoffman@7artspictures.com
Or
Seven Arts Pictures plc UK contact:
Kate Hoffman
+44 203 006 8223
khoffman@7artspictures.com

Cinedigm Entertainment Group contact:
Jill Newhouse Calcaterra
+1 818 961 0809
jcalcaterra@cinedigm.com

Unilife (UNIS) CEO to Purchase up to U.S. $1.0 Million in Company Shares

MELA Sciences (MELA) Issues Statement on FDA’s New Draft Guidance on Pivotal Clinical Trials

IRVINGTON, NY — (Marketwire) — 08/17/11 — MELA Sciences, Inc. (NASDAQ: MELA) issued the following statement regarding the U.S. Food and Drug Administration’s (FDA) draft guidance on Design Considerations for Pivotal Clinical Investigations for Medical Devices, including those conducted to support Premarket Approval (PMA) applications. The draft guidance, which was issued August 15, discusses various recommended study designs, including randomized and blinded clinical studies.

“We hold ourselves to the highest, most rigorous clinical standards, and consequently when we designed the pivotal study of MelaFind® with the FDA, we insisted on conducting a blinded study in which patients underwent both tests, investigators’ eyes and MelaFind, which is more rigorous and scientifically preferred to randomization,” said Joseph V. Gulfo, MD, President and CEO of MELA Sciences. “We also set effectiveness thresholds for melanoma detection beyond any standards ever reported in the clinical literature. We met those thresholds — and ultimately enrolled more patients than had any other study previously conducted in melanoma detection. From what I understand about the new FDA draft guidance, the protocol we agreed to with FDA years ago meets or exceeds what the agency is now proposing. Additionally, we believe our approach is in harmony with the draft recommendations, for example, with respect to meeting with FDA and designing a pivotal trial to achieve a desired claim before starting the study. We are pleased that the latest draft guidance is consistent with the commitment MELA and FDA made seven years ago.”

MELA Sciences developed MelaFind® to serve as a tool to help dermatologists detect melanoma at its earliest, most curable stages. Clinical literature shows that approximately 25% or more of these early lesions are being missed with current detection techniques. In the largest clinical trial ever conducted in melanoma detection, MelaFind detected 98.3% of the melanomas, missing fewer than 2% of the early melanomas.

Based on these positive data, the company submitted a PMA application for MelaFind to the FDA over two years ago, yet no final decision has been made.

In its earliest stage, melanoma is limited to the epidermis, the outer layer of skin and the cure rate with surgical removal is virtually 100%.(1) With early detection, surgical removal alone is usually the only required treatment. However, the five year survival rate for patients with stage IV melanoma is less than 15%, with most patients dying within six to ten months.(2)

Detecting early melanoma not only translates to better results for patients, it also reduces overall healthcare costs. If diagnosed early, dermatologists excise melanoma at a cost of approximately $1,800 per patient. Treatment costs increase dramatically as the melanoma progresses, costing close to $170,000 per patient for late stage melanoma.(3)

About MELA Sciences, Inc:
MELA Sciences is a medical technology company focused on developing MelaFind®, a non-invasive and objective multi-spectral computer vision system intended to aid in the detection of early melanoma. MELA Sciences designed MelaFind® to assist in the evaluation of clinically atypical pigmented skin lesions, when a dermatologist chooses to obtain additional information before making a final decision to biopsy to rule out melanoma. MelaFind® acquires and displays multi-spectral (from blue to near infrared) and reconstructed RGB digital images of pigmented skin lesions and uses automatic image analysis and statistical pattern recognition to help identify lesions to be considered for biopsy to rule out melanoma, the deadliest form of skin cancer. Although no cure is currently available for advanced-stage melanoma, melanoma is virtually 100% curable if caught early.

MelaFind® Proposed Indications for Use
MELA Sciences proposes that MelaFind® is indicated for the evaluation of clinically atypical cutaneous pigmented lesions (those having one or more clinical or historical characteristics of melanoma, such as asymmetry, border irregularity, color variegation, diameter greater than 6 mm, evolving, patient concern, regression, and “ugly duckling”), when a dermatologist chooses to obtain additional information before making a final decision to biopsy to rule out melanoma. MelaFind® is a non-invasive and objective multi-spectral computer vision system designed as a tool to aid dermatologists in the detection of early (e.g., non-ulcerated, not bleeding, or less than 2.2 cm in diameter) melanoma.

MelaFind® is not a screening device and is not indicated for non-pigmented lesions, banal pigmented lesions, lesions that are clinically identified as definite melanomas, or lesions on special anatomical sites (i.e., acral, mucosal, subungual).

Regulatory Status
The MelaFind® PMA application was filed with the FDA in June 2009, received positive FDA Advisory Panel recommendations in November 2010 and is currently under review at the FDA. In February 2011, the Company filed an amendment to the MelaFind® PMA application with the FDA, limiting the indication for use to dermatologists and in May 2011 the Company filed another amendment to the MelaFind® PMA that incorporated a training program for users. MELA Sciences cannot predict either the timing of the FDA’s decision on the PMA application or the outcome. FDA approval is required prior to marketing MelaFind® in the United States.

For more information on MELA Sciences, visit www.melasciences.com.

Safe Harbor
This press release includes “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995. These statements include but are not limited to our plans, objectives, expectations and intentions and other statements that contain words such as “expects,” “contemplates,” “anticipates,” “plans,” “intends,” “believes,” “assumes,” “predicts” and variations of such words or similar expressions that predict or indicate future events or trends, or that do not relate to historical matters. These statements are based on our current beliefs or expectations and are inherently subject to significant known and unknown uncertainties and changes in circumstances, many of which are beyond our control. There can be no assurance that our beliefs or expectations will be achieved. Actual results may differ materially from our beliefs or expectations due to financial, economic, business, competitive, market, regulatory and political factors or conditions affecting the company and the medical device industry in general, as well as more specific risks and uncertainties facing the company such as those set forth in its reports on Forms 10-Q and 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”). Factors that might cause such a difference include whether the data from our pre-clinical studies and clinical trials is sufficient to support regulatory approval of MelaFind®, whether we are required to provide the FDA with additional data or perform additional testing on MelaFind® or, even if we do receive regulatory approval, whether any such approval is for the indications we seek. Given the uncertainties affecting companies in the medical device industry such as the company, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. The company urges you to carefully review and consider the disclosures found in its filings with the SEC which are available at www.sec.gov and www.melasciences.com.

(1) American Academy of Dermatology (http://www.aad.org/public/publications/pamphlets/sun_malignant.html)

(2) Tsao H, Atkins MB, Sober AJ. Management of Cutaneous Melanoma. N Engl J Medicine. 2004;251(10):998-1012

(3) Alexandrescu D, Dermatology On-Line Journal. Melanoma Costs: A dynamic model for comparing estimated overall costs of various clinical stages. 15(11): 1, 2009

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For more information contact
MELA Sciences
646-871-8485

Seacoast (SBCF) Announces Payment of Dividends to Treasury and Payment to Investors in Trust Preferred Securities

Claude Resources Inc. (CGR) Intercepts 39.8 Grams of Gold per Tonne Over 10.0 Metres True Width

Kingold Jewelry, Inc. (KGJI) Announces Recently Increased Guidance

Dejour (DEJ) Reports 15% Rise in Sequential Quarterly Revenue

Dejour Energy Inc. (NYSE AMEX: DEJ / TSX: DEJ), an independent oil and natural gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, today announced the release of its financial results for the second quarter period ended June 30, 2011.

Summary of Selected Financial Highlights (Unaudited)

Summary of Selected Operational Highlights

Note:
Effective January 1, 2011, the Company adopted International Financial Reporting standards (“IFRS”), which are also generally accepted accounting principles (“GAAP”) for publicly accountable enterprises in Canada. In accordance with the standard related to the first time adoption of IFRS, the Company’s transition date to IFRS was January 1, 2010 and therefore the comparative information for 2010 has been prepared in accordance with IFRS accounting policies.

Operating netback, EBITDA and Adjusted EBITDA are non-GAAP measures and are defined in detail in the “Non-GAAP Measures” note at the end of this press release.

Q2 2011 Key Achievements

During the quarter, the Company achieved the following major objectives and also made significant progress on key strategic initiatives:

• Increased gross revenue by 15% from Q1 2011
• Generated a positive Adjusted EBITDA for the quarter
• Increased oil production by 37 %, Q2 over Q1, as the Halfway pool began to show good response to the water injection. Oil production averaged more than 400 BOPD in June, up from 131 BOPD in May.
• Received a mid-year updated reserve evaluation report on its Woodrush oil pool valuing the PV-10 proved reserves at $25 million, with proved and probable reserves valued at $42 million net to Dejour’s 75% W.I. The reserve evaluation bears an effective date of June 30, 2011 and was conducted by an independent firm, AJM Petroleum Consultants (“AJM”) of Calgary, Alberta, a qualified reserve evaluator.

• Extended an existing bridge loan credit facility to October 31, 2011. Subsequent to June 30, 2011, the Company signed a Commitment Letter with a Canadian bank for a $7 million revolving operating demand loan to refinance the bridge loan and to provide funds for general corporate purposes. The operating loan is at an interest rate of Prime + 1% (total 4% p.a. currently).
• Completed the drilling of a test well at South Rangely. The test well was drilled to a depth of 3863′ and encountered approximately 90 feet of hydrocarbon bearing siltstone in the Lower Mancos “C” sands. After a thorough review of the well data the well will be completed, fractured and flow tested in Q3 to determine the commercial potential of the Lower Mancos “C” Sand in this area.

H2 2011 Key Corporate Objectives

• Continue to generate positive Adjusted EBITDA in Q3 and Q4 2011;
• Continue to increase oil production at the Woodrush field;
• Complete the project funding package for Phase 1 drilling at Gibson Gulch as debt financing;
• Receive final approval from the BLM on Dejour’s Master Development Plan and first fourteen drilling permits by the end of Q3. Commence pre-drill operations at Gibson Gulch in Q4; and
• Finish the evaluation of the test well at South Rangely.

Comment

“We continue to execute on our strategy and are pleased with the progress made surrounding initiatives at Woodrush, Gibson Gulch and South Rangely. With sustainable rising oil production at Woodrush, $200MM in proved and probable reserve value in our property portfolio and a robust, liquids rich, gas development initiation at Gibson Gulch, we are confident to realize significant value for all of our stakeholders,” stated Robert Hodgkinson, Co-Chairman and CEO.

Second Quarter 2011 Conference Call Information

The Company has scheduled a conference call for Friday, August 12, 2011 at 1:00 p.m. EST. Interested parties can join the live event by dialing 1-866-321-8231 at least 10 minutes prior to the start of the call, conference ID: 4914229. Participants from outside North America can join the event by dialing +1-416-642-5213 and utilizing the same conference ID.

Condensed Consolidated Balance Sheets (Unaudited)

Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

Condensed Consolidated Statements of Cash Flows (Unaudited)

Operating Cash Flow

Operating Cash Flow is a non-GAAP measure defined as net cash provided by operating activities before changes in assets and liabilities.

Operating Netback

Operating Netback is a non-GAAP measure defined as revenues less royalties and operating and transportation expenses.

EBITDA

EBITDA is a non-GAAP measure defined as net income (loss) before income tax expense, finance costs and amortization, depletion and impairment losses.

Adjusted EBITDA

Adjusted EBITDA is a non-GAAP measure and excludes certain items that management believes affect the comparability of operating results. Items excluded generally are non-cash items, one-time items or items whose timing or amount cannot be reasonably estimated.

Revenue

In Q2 2011, the Company recorded $1,816,000 in gross oil and natural gas sales before royalty, as compared to $1,584,000 in Q1 2011 and $2,676,000 in Q2 2010. In 2011 Q2 gas sales were suspended for approximately seven weeks, due to major maintenance at the MacMahon gas processing plant where the company delivers production for processing prior to delivering to the gas sales pipeline. Gas production resumed during the third week of July 2011.

Oil production in April and May averaged 150 BOPD as we continued to operate under pre-waterflood response production limits imposed by the Oil and Gas Conservation Commission of British Columbia. In June 2011, average gross oil production increased to 430 BOPD.

Overcoming suspension of gas sales during Q2 2011, the Company increased gross revenues by approximately 15% from Q1 2011.

Operating Netbacks

On a per BOE basis, operating netbacks for Q2 2011 increased to $38.11 per BOE, as compared to $24.08 for Q1 2011 and $26.87 per BOE for Q2 2010, due to a number of factors, including the Company’s production mix being more heavily weighted towards oil in Q2 2011, higher oil prices, and the temporary suspension of gas sales for seven weeks during the quarter.

Operating netbacks for Q2 2011 was $997,000, as compared to $840,000 for Q1 2011 and $1,465,000 for Q2 2010.

Liquidity and Capital Resources

Cash Balance

The Company had cash and cash equivalents of $1,834,000 as at June 30, 2011. In addition to the cash balance, the Company also had accounts receivable of $1,175,000, most of which related to June 2011 oil and gas sales and had been received subsequent to June 30, 2011.

Bank Line of Credit and Bridge Loan Financing

In March 2010, the Company negotiated a credit facility for a bridge loan of up to $5,000,000. This facility is secured by a first floating charge over all assets of DEAL (the Cdn. subsidiary of Dejour Energy Inc.), bears interest at 12% per annum, plus certain fees. In April 2011, the company extended the credit facility to October 31, 2011.

Subsequent to June 30, 2011, the Company signed a Commitment Letter with a Canadian bank for a $7 million revolving operating demand loan to refinance the $4,200,000 bridge loan balance and to provide additional funds for investment. The operating loan is at an interest rate of Prime + 1% (total 4% p.a. currently).

About Dejour

Dejour Energy Inc. is an independent oil and natural gas exploration and production company operating projects in North America’s Piceance Basin (107,000 net acres) and Peace River Arch regions (15,000 net acres). Dejour’s seasoned management team has consistently been among early identifiers of premium energy assets, repeatedly timing investments and transactions to realize their value to shareholders’ best advantage. Dejour maintains offices in Denver, USA, Calgary and Vancouver, Canada. The company is publicly traded on the New York Stock Exchange Amex (NYSE AMEX: DEJ) and Toronto Stock Exchange (TSX: DEJ).

Non-GAAP Measures: This news release contains references to non-GAAP measures as follows:

Operating Cash Flow is a non-GAAP measure defined as net cash provided by operating activities before changes in assets and liabilities.

Operating Netback is a non-GAAP measure defined as revenues less royalties and operating and transportation expenses.

EBITDA is a non-GAAP measure defined as net income (loss) before income tax expense, interest expense and finance fee, and amortization, depletion and accretion.

Adjusted EBITDA excludes certain items that management believes affect the comparability of operating results. Items excluded generally are non-cash items, one-time items or items whose timing or amount cannot be reasonably estimated.

Certain measures in this document do not have any standardized meaning as prescribed by Canadian GAAP such as Operating Cash Flow, Operating Netback, EBITDA and Adjusted EBITDA and therefore are considered non-GAAP measures. These measures may not be comparable to similar measures presented by other issuers. These measures have been described and presented in this document in order to provide shareholders and potential investors with additional information regarding our liquidity and our ability to generate funds to finance our operations.

BOE Presentation: Barrel of oil equivalent amounts have been calculated using a conversion rate of six thousand cubic feet of gas to one barrel of oil. The term “BOE” may be misleading if used in isolation. A BOE conversion ratio of one barrel of oil to six mcf of gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head. Total BOEs are calculated by multiplying the daily production by the number of days in the period.

Statements Regarding Forward-Looking Information: This news release contains statements about oil and gas production and operating activities that may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities legislation as they involve the implied assessment that the resources described can be profitably produced in the future, based on certain estimates and assumptions. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated by Dejour and described in the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, adverse general economic conditions, operating hazards, drilling risks, inherent uncertainties in interpreting engineering and geologic data, competition, reduced availability of drilling and other well services, fluctuations in oil and gas prices and prices for drilling and other well services, government regulation and foreign political risks, fluctuations in the exchange rate between Canadian and US dollars and other currencies, as well as other risks commonly associated with the exploration and development of oil and gas properties. Additional information on these and other factors, which could affect Dejour’s operations or financial results, are included in Dejour’s reports on file with Canadian and United States securities regulatory authorities. We assume no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change unless otherwise required under securities law.

The TSX does not accept responsibility for the adequacy or accuracy of this news release.

Follow Dejour Energy’s latest developments on Facebook:

http://facebook.com/dejourenergy

AmeriServ Financial Inc. (ASRV) Receives $21 Million of Capital From the Small Business Lending Fund

TranSwitch’s (TXCC) HDMI(R) 1.4 Technology Selected by Samsung Electronics for Next-Generation High-Definition Televisions

SHELTON, CT — (Marketwire) — 08/12/11 — TranSwitch Corporation (NASDAQ: TXCC), a leading provider of semiconductor solutions in the rapidly growing consumer electronics and telecommunications markets, today announced that the Company’s HDMI® 1.4 Intellectual Property (IP) with patented Phaswitch™ technology has been selected by Samsung Electronics for its next generation of televisions.

Under the agreement, Samsung Electronics will incorporate TranSwitch’s HDMI® technology in next-generation video processors across its Visual Display product lines in 2013, including flat panel televisions.

“We are proud that Samsung has selected TranSwitch’s HDMI® solution for its next-generation Digital TVs,” stated Dr. M. Ali Khatibzadeh, President and CEO of TranSwitch Corporation. “The adoption of TranSwitch’s HDMI® 1.4 IP by the global leader in consumer electronics validates our best-in-class technology offering. We have a 14-year track record in licensing our high-speed intellectual property (IP) cores to top tier companies, including some of the largest semiconductor companies in the world. With our comprehensive portfolio of high-speed video IP cores and the introduction of our new HDplay™ semiconductor products, which support both HDMI® and DisplayPort, we believe TranSwitch is now well-positioned to emerge as a leader in high-speed video connectivity market.”

TranSwitch’s HDMI® 1.4 interconnect technology with Phaswitch™ will enable Samsung Electronics’ Visual Display product lines to provide full high definition and industry-leading switching times with low power consumption and minimal footprint.

HDMI® 1.4 Receiver IP Core Product Facts & Highlights:

• Compliant with HDMI® 1.4 and DVI 1.0 standards
• Phaswitch™ feature for fast input ports switching capability
• Supports HDCP 1.4 with hardware-based authentication

* HDMI® (High-Definition Multimedia Interface) is a registered trademark of HDMI LLC.

About TranSwitch Corporation
TranSwitch Corporation (NASDAQ: TXCC) designs, develops and supplies innovative semiconductor and intellectual property (IP) solutions that provide core functionality for voice, data and video communications equipment for network, enterprise and customer premises applications. Founded in 1988, TranSwitch® is headquartered in Shelton, CT. The Company provides integrated multi-core network processor System-on-a-Chip (SoC) solutions and software solutions for fixed, 3G and 4G Mobile, VoIP and Multimedia Infrastructures. For the customer premises market the Company offers a family of communications processors that provide best-in-class performance for a range of applications and also provide interoperable connectivity solutions that enable the reliable distribution and presentation of high-definition (HD) content for consumer electronics and personal computer markets. Our intellectual property (IP) products are compliant with global industry standards such as HDMI and DisplayPort and also feature our proprietary HDP™ and AnyCable™ technologies. For more information, please visit www.transwitch.com.

Safe Harbor Statement
Forward-looking statements in this presentation are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties detailed in the Company’s filings with the Securities and Exchange Commission.

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Media Relations
Glen Turvey
T2 Public Relations
Tel: +1 201.450.9033
Email Contact

Corporate Contact Investor Relations
Charlotte Chiang
TranSwitch Corp.
Tel: +1 203.929.8810
Email Contact

Ted Chung
TranSwitch Corp.
Tel: +1 203.929.8810
Email Contact

Sky-mobi (MOBI) Revises Guidance, Announces Conference Call to Discuss First Quarter Fiscal 2012 Results

HANGZHOU, China, Aug. 12, 2011 (GLOBE NEWSWIRE) — Sky-mobi Limited (“Sky-mobi” or the “Company”) (Nasdaq:MOBI), a leading mobile application store and mobile social network community operator in China, today revised its guidance for the fiscal first quarter ended June 30, 2011 (the “first quarter 2012”) and provided guidance for the 2012 fiscal year.

For the first quarter 2012, Sky-mobi now expects revenues to be in the range of RMB164 million to RMB167 million, down from its previous guidance of RMB180 million to RMB190 million. Revenues for the fiscal year ending March 31, 2012 are expected to be in the range of RMB 680 million to RMB 690 million.

“We expect revenues for the quarter to be approximately 10% below our original expectations due to our lower than expected overall handset sales in China and a more difficult operating environment for mobile service providers, which has lowered our monetization rate on user activities,” said Michael Tao Song, Chairman and Chief Executive Officer of Sky-mobi. “At the same time, we have seen strong growth for the Maopao Community and expect the growth of the Maopao Community to continue in fiscal 2012 and beyond.”

The Company is currently finalizing its financial results and will conduct a conference call at 8:00 a.m. ET on Monday, August 22, 2011, to discuss results for the first quarter 2012.

A live audio webcast of the conference call will be available on Sky-mobi’s website at http://ir.sky-mobi.com/events.cfm.

To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: +1 (877) 275-8968. International callers should dial +1 (706) 643-1666. When prompted by the operator, mention conference pass code 91270572.

If you are unable to participate in the call at this time, a replay will be available for two weeks following the call and can be accessed on the Company website or by dialing the following numbers: +1 (855) 859-2056, international callers dial +1 (404) 537-3406, and enter the pass code 91270572.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as ”believes,” ”expects,” ”anticipates,” ”intends,” ”estimates,” the negative of these terms, or other comparable terminology. Such statements, including the statements relating to the Company’s expectation of its operating and financial results, are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Potential risks and uncertainties include the effectiveness, profitability, and marketability of the company’s solutions; the Company’s limited operating history; measures introduced by the PRC government and mobile network operators aimed at mobile applications-related services; the Company’s ability to maintain cooperation relationships with handset companies, content providers and payment service providers; its dependence on mobile service providers, and ultimately mobile network operators, for the collection of a substantial majority of its revenues; billing and transmission failures, which are often beyond the Company’s control; its ability to compete effectively; its ability to capture opportunities in the expected growth of the smart phone market; its ability to obtain and maintain all applicable permits and approvals; general economic and business conditions; the volatility of the company’s operating results and financial condition; the company’s ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company’s filings with the Securities and Exchange Commission. These forward-looking statements are based on current expectations, assumptions, estimates and projections about the Company and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

About Sky-mobi Limited

Sky-mobi Limited operates the leading mobile application store in China as measured by revenues in 2009, according to Analysys International. The company works with handset companies to pre-install its Maopao mobile application store on handsets and with content providers to provide users with applications and content titles. Users of its Maopao store can browse, download, and enjoy a range of applications and content, such as single-player games, mobile music, and books. The Company’s Maopao store enables mobile applications and content to be downloaded and run on various mobile handsets with different hardware and operating system configurations. The company also operates a mobile social network community in China, the Maopao Community, where it offers mobile social games, as well as applications and content with social network functions to its registered members. The Company is based in Hangzhou, the People’s Republic of China. For more information, please visit: www.sky-mobi.com.

The Sky-mobi Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8458

CONTACT: Sky-mobi Limited
         Mr. Carl Yeung, CFO
         Phone: +(86) 571-87770978 (Hangzhou)
         Email: ir@sky-mobi.com

         CCG Investor Relations
         Elaine Ketchmere, Partner and VP
         Phone: +(1) 310-954-1345 (Los Angeles)
         Email: elaine.ketchmere@ccgir.com

Ever-Glory (EVK) Reports Second Quarter 2011 Financial Results

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

Core Molding Technologies (CMT) Reports Second Quarter 2011 Results

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

BIOLASE (BLTI) Announces Stock Repurchase Program

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

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

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

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

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

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

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

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

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

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

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

Second Quarter Highlights

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

Second Quarter Results

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

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

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

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

Six-Month Results

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

Balance Sheet and Cash Flow Update

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

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

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

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

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

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

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

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

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

-tables follow-

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

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

BroadSoft (BSFT) Reports Record Second Quarter 2011 Financial Results

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

Financial Highlights for the Second Quarter of 2011

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

Results for the three months ended June 30, 2011

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

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

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

Results for the six months ended June 30, 2011

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

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

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

Management Commentary

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

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

Guidance

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

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

Conference Call

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

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

Use of Non-GAAP Financial Measures

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

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

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

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

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

Forward-Looking Statements

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

About BroadSoft

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

Financial Statements

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

                               BroadSoft, Inc
                   Condensed Consolidated Balance Sheets
                                (unaudited)

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

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

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

Stockholders' equity:

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

                               BroadSoft, Inc
              Condensed Consolidated Statements of Operations
                                (unaudited)

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

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

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

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

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

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

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

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

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

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

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

                              BroadSoft, Inc.

               Reconciliation of Non-GAAP Financial Measures
                                (Unaudited)

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

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

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

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

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

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

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

                              BroadSoft, Inc.

               Reconciliation of Non-GAAP Financial Measures
                                (Unaudited)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

                              BroadSoft, Inc.

               Reconciliation of Non-GAAP Financial Measures
                                (Unaudited)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

                              BroadSoft, Inc.

               Reconciliation of Non-GAAP Financial Measures
                                (Unaudited)

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

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

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

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

Non-GAAP net income per
 share:

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

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

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

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

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

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