Ceragon (CRNT) Receives Orders for Mobile Backhaul Equipment from One of India’s Leading Operators

PARAMUS, New Jersey, August 30, 2010 /PRNewswire-FirstCall/ — Ceragon Networks Ltd. (NASDAQ:CRNT – News), the provider of high-capacity, 4G/LTE-Ready wireless backhaul networks, today announced that it has received new orders for its advanced FibeAir(R) platforms from a leading Indian operator. Ceragon’s equipment will be deployed in a number of circles to facilitate the operator’s network expansion.

“We are very happy to see that the regulatory process related to security considerations in India is in place and orders are beginning to be released by operators as they receive clearance from the Indian government,” said Ira Palti, President and Chief Executive Officer of Ceragon. “We expect revenue from the current orders to be recognized during 2011, while continuing to target revenue growth in the range of 30-35% for 2010.”

With more than 110 million users added in the first half of 2010, India’s mobile subscriber-base has grown to over 635 million. According the Telecom Regulatory Authority of India (TRAI) more than 94% of telephony services in India are passed over wireless networks.

Ceragon is an important player in India’s expanding wireless backhaul market. The company’s advanced hybrid (IP/TDM) and all-IP solutions are used by most of India’s leading mobile operators to provide vital, high quality and high-capacity connectivity.

About Ceragon Networks Ltd.

Ceragon Networks Ltd. (NASDAQ:CRNT – News) is a leading provider of high capacity LTE/4G ready wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services, such as Internet browsing, music and video applications. Our wireless backhaul solutions use microwave technology to transfer large amounts of telecommunication traffic between base stations and the core of the service provider’s network. Designed to enable risk-free migration from legacy to next-generation backhaul networks, our solutions provide fiber-like connectivity for circuit-switched, or SONET/SDH, networks, next generation Ethernet/Internet Protocol, or IP-based, networks, and hybrid networks that combine circuit-switched and IP-based networks. Our solutions support all wireless access technologies, including GSM, CDMA, EV-DO, HSPA, LTE and WiMAX. These solutions allow wireless service providers to cost-effectively and seamlessly evolve their network from circuit-switched and hybrid concepts to all IP thereby meeting the increasing demands by the growing numbers of subscribers and the increasing demand for mobile data services. We also provide our solutions to businesses and public institutions that operate their own private communications networks. Our solutions are deployed by more than 200 service providers of all sizes, as well as in hundreds of private networks, in more than 130 countries. More information is available at http://www.ceragon.com.

Ceragon Networks(R), CeraView(R), FibeAir(R), the FibeAir(R) design mark and Native2(R) are registered trademarks, and Ceragon(TM), PolyView(TM), ConfigAir(TM), CeraMon(TM), EtherAir(TM), QuickAir(TM), QuickAir Partner Program(TM), QuickAir Partner Certification Program(TM), QuickAir Partner Zone(TM), EncryptAir(TM) and Microwave Fiber(TM) are trademarks of Ceragon Networks Ltd.

This press release may contain statements concerning Ceragon’s future prospects that are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and projections that involve a number of risks and uncertainties. There can be no assurance that future results will be achieved, and actual results could differ materially from forecasts and estimates. These are important factors that could cause actual results to differ materially from forecasts and estimates. These risks and uncertainties, as well as others, are discussed in greater detail in Ceragon’s Annual Report on Form 20-F and Ceragon’s other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made and Ceragon undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made.

Uranium Energy Corp (UEC) Completes Phase One of Wellfield Development at Palangana in South Texas

CORPUS CHRISTI, TX, Aug. 30 /PRNewswire-FirstCall/ – Uranium Energy Corp (NYSE-AMEX: UEC, the “Company”) is pleased to announce that the Company has now completed the first of three phases of wellfield development at Production Area One (“PAA-1”) at the Palangana ISR uranium project located in South Texas.

The Company has completed 40 injection and production wells thus far, which completed Phase One in the development of PAA-1. The wells will be brought on-stream in three approximately equivalent phases as part of the build-up to initial sustainable levels of production. Construction of Palangana’s ion-exchange satellite facility is also underway with pumps and tanks to be installed in mid-September.

Harry Anthony, Chief Operating Officer, stated, “The development progress at Palangana is on-track, on-schedule and on-budget for initial production starting in November this year. We are continuing the drilling, electrical build-out and wellfield piping, and are pleased with the pace and testing to date.”

The Company has also completed drilling and flow-testing the Class 1 non-hazardous waste disposal well, known as WDW 419, that is needed for the Palangana project. WDW 419 is permitted for injection of by-product solutions generated during in-situ recovery of uranium and during restoration of the field. The well was drilled and cased to a depth of 6,950 feet in June and July. It was perforated in early August with two perforation intervals.

The well has now been flow-tested using filtered brine at several rates ranging between 42 and 176 gallons per minute at wellhead pressures ranging from 0, or a vacuum, up to 300 pounds per square inch, and was successful from applying just these modest wellhead pressures. WDW 419 is in the top 99 percentile of all Class I uranium wells based on superb flow rates at modest injection pressures.

About In-Situ Recovery (ISR) Mining

Uranium Energy Corp will be employing in-situ recovery or ISR mining technology at the Palangana uranium project. ISR is injected-solution mining that reverses the natural process that deposited the uranium in the sandstones. On-site ground water is fortified with gaseous oxygen and is introduced to the uranium ore body through a pattern of injection wells. The solution dissolves the uranium in the sandstone uranium host. The uranium-bearing solution is brought back to surface through production wells where the uranium is concentrated on resins for trucking to the Company’s Hobson processing plant to be concentrated further and dried into yellowcake for market. This pattern of injection and recovery wells is called a wellfield. For more information, including photographs and detailed captions, please read the President’s Mid-Year Report to Shareholders dated July 27, 2010 at www.uraniumenergy.com.

About Uranium Energy Corp

Uranium Energy Corp. (NYSE-AMEX: UEC) is a U.S.-based exploration and development company with the objective of near-term uranium production in the U.S. The Company’s fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the fully-permitted Palangana in-situ recovery project, and the Goliad in-situ recovery project which is in the final stages of mine permitting for production. The Company’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.

    Stock Exchange Information:
    NYSE-AMEX: UEC
    Frankfurt Stock Exchange Symbol: U6Z
    WKN: AØJDRR
    ISN: US916896103

Safe Harbor Statement

Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labour disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.

Peerless Systems Corp. (PRLS) Announces Self Tender of up to $45 Million of Its Outstanding Shares at $3.25 Per Share

EL SEGUNDO, Calif., Aug. 27 /PRNewswire-FirstCall/ — Peerless Systems Corporation (Nasdaq:PRLS – News), a provider of imaging and networking technologies to the digital document market, announced today that it intends to commence a public tender offer to repurchase from its stockholders up to $45 million (or approximately 13.85 million shares) of its common stock at a price of $3.25 per share in cash.

Two years ago, the Company’s Board of Directors was reconstituted in order to ensure that Peerless was focused on enhancing stockholder value.  At that time, Peerless’ common stock was trading at approximately $1.80 per share and the then current CEO presented the Board with a proposed budget that projected an operating LOSS in fiscal year 2009 of approximately $9 million.

Since then management, with significant oversight by Timothy Brog, the Chairman of the Board, and the other directors, refocused the Company and was able to preserve, and then increase, capital, and maximize stockholder value for Peerless’ stockholders.

These results were achieved through initiatives such as:

• Terminating money losing projects that would have consumed a significant amount of Peerless’ cash;

• Negotiating an exit from a 10 year lease that was costing the Company approximately $1.5 million per year;

• Reducing office space from over 50,000 square feet to approximately 2,000 square feet;

• Slashing the head count from 27 to 4;

• Generating a pre-tax profit in excess of $10 million on our investment in Highbury Financial;

• Reducing accrued liabilities by restructuring licenses with third parties;

• Executing perpetual licenses with customers;

• Negotiating the early release of escrowed funds from the sale of our assets to Kyocera Mita Corporation;

• Adding a new customer for the first time in many years; and

• Eliminating unnecessary expenses and generating significant free cash flow in each of the past two years.

Timothy E. Brog, Chairman of Peerless’ Board of Directors, said, “Peerless will continue to execute its publicly announced strategy.  However, we are pleased to be able to offer the opportunity for liquidity to stockholders who desire to sell some or all of their shares.”  As for the future of Peerless, Mr. Brog added, “For those stockholders that decide to retain some or all of their shares, we intend to continue to focus on delivering value by seeking acquisitions and maximizing the value of our historical licensing business.”

The tender offer will afford tendering stockholders liquidity for some or all of their shares and will permit them to have their shares repurchased at a 14.4% premium over the closing price per share of $2.84 on August 26, 2010, the last full trading day before the date of this announcement. Stockholders who elect not to tender their shares in the offer will increase their relative percentage ownership in Peerless following completion of the offer.

Mr. Brog has informed the Company that he does not intend to tender any of his shares.  Bandera Partners and Caburn Management, which beneficially own approximately 22.5% and 2.0% of the Company’s outstanding shares, respectively, have agreed to tender all of their shares in the offer.

At the closing of the tender offer, Gregory Bylinsky, a representative of Bandera, and Eddie Ramsden, a representative of Caburn, will resign as directors of the Company and Eric Kuby, a representative of North Star Investment Management Corporation, which beneficially owns 351,547 shares of Peerless common stock, will be appointed as a new a director.  North Star does not intend to tender any of its shares.  If Bandera owns less than 450,000 shares following the closing of the tender offer, Robert Frankfurt will be appointed to the Board.  Jefferson Gramm, Bandera’s other Board representative, will resign if Bandera owns less than 360,000 shares following the closing of the tender offer. Background information regarding Messrs. Kuby and Frankfurt is included in the Company’s Form 8-K filed with the Securities and Exchange Commission today.

The Company intends to commence the tender offer as soon as practicable and it will remain open for at least 20 business days.  Under the terms of the offer, stockholders may tender all or a portion of their shares.  Neither Peerless nor its Board of Directors anticipates making any recommendation to stockholders as to whether to tender or, if so, how many shares to tender.  The tender offer is subject to market, economic and business conditions affecting the Company and other customary conditions set forth in the Offer to Purchase and related Letter of Transmittal documents to be sent to the stockholders.  Tenders of shares must be made on or prior to the expiration of the tender offer and shares may be withdrawn at any time on or prior to the expiration of the tender offer.  If the offer is oversubscribed by stockholders, the Company will purchase shares on a pro rata basis in accordance with the number of shares tendered.

Further information regarding these matters is included in the filings made by the Company with the Securities and Exchange Commission today, including the Current Report on Form 8-K.

The Company has not commenced the tender offer and the description of the tender offer included in this press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any of the Company’s common stock. There can be no assurance that any tender offer will be commenced or if commenced that it will be consummated. The offer to purchase and the solicitation of the Company’s common stock will be made only pursuant to the Offer to Purchase, the related Letter of Transmittal and other related materials that the Company expects to mail to its stockholders promptly after commencement of the offer, at no expense to stockholders. Stockholders should read those materials and the documents incorporated therein by reference carefully when they become available because they will include important information, including the various terms of, and conditions to, the tender offer. The Company will file a Tender Offer Statement on Schedule TO with the SEC in connection with the tender offer, which will include as exhibits the Offer to Purchase and the related Letter of Transmittal, as well as any amendments or supplements to the Tender Offer Statement when they become available. The Tender Offer Statement (including the Offer to Purchase, the related Letter of Transmittal and other related materials) when filed will be available to stockholders at no charge at the SEC’s website at www.sec.gov, or the Investor Relations section of the Company’s website located at www.peerless.com. Stockholders are urged to read those materials carefully prior to making any decisions with respect to the tender offer.

About Peerless Systems Corporation

Founded in 1982, Peerless Systems Corporation historically licensed imaging and networking technologies to the digital document markets, which include manufacturers of color, monochrome and multifunction office products and digital appliances.  Effective April 30, 2008, Peerless sold its imaging and networking technologies and certain other assets to Kyocera Mita Corporation.  Peerless retains the rights to continue licensing these technologies to customers in the digital document markets.  Peerless intends to use its cash on hand to explore investment opportunities that it believes will enhance stockholder value.

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

Some statements included in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, therefore, involve uncertainties or risks that could cause actual results to differ materially there from.  These statements may contain words such as “desires,” “believes,” “anticipates,” “plans,” “expects,” “intends,” “estimates” or similar expressions.  These statements are not guarantees of the Company’s future performance and are subject to risks, uncertainties and other important factors that could cause actual performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Such statements include, but are not limited to, the Company’s ability to find one or more suitable investment opportunities and to successfully complete any such investment, the Company’s current licensing business, the effects of the Company’s downsizing, the ability of the Company to commence and complete the tender offer, and the ability of the Company to achieve the benefits contemplated by the tender offer.  Additional information regarding factors that could cause results to differ materially from management’s expectations is found in the section entitled “Risk Factors” in the Company’s 2010 Annual Report on Form 10-K.  The Company intends that the forward-looking statements included herein be subject to the above-mentioned statutory safe harbors. Investors are cautioned not to rely on forward-looking statements.  The Company does not undertake, and expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Travelzoo (TZOO) Surpasses 1 Million Subscriber Milestone in Germany

MUNICH–(BUSINESS WIRE)–Travelzoo (NASDAQ: TZOO – News), a global Internet media company, announced today that it now has more than 1 million unduplicated subscribers to its German publications, including the Travelzoo Top 20^® and Newsflash™ email alert service. The number of German subscribers has grown by 385,964 over the past 12 months, an annual increase of 62%.

As its audience has grown in Germany, subscribers have become increasingly responsive to Travelzoo’s recommendations. In the first six months of 2010, average weekly clicks to the German edition of the Top 20 were 303,572, up 112% over the prior year period and almost twice the rate of new subscribers. The single biggest week so far this year, in terms of click volume, was 28 July, when Travelzoo’s German subscribers clicked a record 423,492 times on deals recommended in the Top 20.

“With 1 million highly-committed, quality subscribers, Travelzoo has established itself as one of the most trusted publishers of travel and entertainment deals,” says Carsten Schwecke, general manager of Travelzoo Germany. “We attribute our continued success to an unwavering focus on quality. We really do check every deal we publish for outstanding value and availability. We see ourselves as a trusted friend that our subscribers can turn to with confidence, for honest, informed advice about deals.”

About Travelzoo
Travelzoo Inc. is a global Internet media company. With more than 21 million subscribers in North America, Europe and Asia Pacific, and 22 offices worldwide, Travelzoo^® publishes deals from more than 2,000 travel and entertainment companies. Travelzoo’s deal experts research, evaluate and test offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect”, “predict”, “project”, “anticipate”, “believe”, “estimate”, “intend”, “plan”, “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo. All other names are trademarks and/or registered trademarks of their respective owners.

Tel-Instrument Electronics Corp (TIK) Announces Results for First Quarter of 2011 Fiscal Year

CARLSTADT, N.J.–(BUSINESS WIRE)– Tel Instrument Electronics Corp. (“Tel” or “Company”) announced today that it sustained a net loss of approximately $275,000 in the first quarter of fiscal year 2011.

Sales in the first quarter increased to $2,455,280, an increase of $113,081 (4.8%) over the same period in the prior fiscal year. Further sales increases for this quarter were held back by production delays and the timing of the receipt of export licenses. However, the units not shipped in the first quarter are expected to be shipped in the balance of this fiscal year in addition to the units originally scheduled for shipment later in the year.

As predicted, operating expenses in the first quarter declined by approximately $240,000, or 14%, over the same period in the prior year primarily as a result of lower engineering costs due to two of the three key Company products nearing the completion of development. Both of these key new products are currently undergoing evaluation by the U.S. Navy. The Company believes that both products will be successfully evaluated and that upon successful completion of the evaluation, the Navy will exercise the remaining production options for the CRAFT AN/USM-708, and will allow the Company to begin production of the order for 102 units of the ITATS AN/ARM-206 already received.

The Company has also received a total of $17 million of delivery orders from the U.S. Army for the TS-4530A program, and the Company expects to begin shipping the qualification units by the end of the calendar year, which the Army will use for testing and evaluation.

Also in July 2010, the Company received an additional order for 160 AN/USM-708 pilot production units with a contract value of $3.6 million. Shipment of these units is scheduled to begin in September 2010.

As a result of the foregoing, as well as projected sales of other products, the Company anticipates a substantial increase in revenues and solid profits in this fiscal year ending March 31, 2011.

At June 30, 2010 the Company’s backlog was approximately $25.4 million as compared to approximately $14.7 million at June 30, 2009. The backlog at June 30, 2010 includes only the amount of currently exercised delivery orders on open IDIQ contracts, and the Company’s backlog is expected to materially increase when the large volume production orders for the AN/USM-708 and AN/USM-719 units are received.

The Company’s working capital and cash flow have substantially declined. The Company had raised approximately $800,000 in additional equity and debt financing, in addition to its borrowings from the bank on its line of credit, in the last fiscal year to support its operations. However, the Company requires additional capital to support its aggressive growth plans. As a result, on June 24, 2010 the Company entered into a non-binding term sheet with a private lender, providing that the Company and the Lender finish negotiating an agreement for a five year loan to the Company for $2.5 million at an interest rate of 14% per year. The nonbinding term sheet provides for additional terms to be included in the agreement, customary to these kinds of agreements, including a provision for warrants to the lender to purchase common shares at an exercise price equal to the closing price of the common shares on the NYSE-Amex at the date of the closing of the loan agreement. In the event of certain major corporate events, the lender would have the right to require the Company to purchase the warrant or warrant shares at prices related to the market price of the shares or related to Company operating income. Any final agreement will have other provisions negotiated by the parties. Although no assurance can be given, the Company is reasonably confident that an acceptable agreement can be concluded by the end of August 2010.

This press release includes statements that are not historical in nature and may be characterized as “forward-looking statements,” including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company’s outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for the Company’s products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company’s previous filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

Tel-Instrument is a leading designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. Tel-Instrument provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment. For further information please visit our website at www.telinstrument.com.

The Company’s stock is traded in the American Stock Exchange under the symbol TIK.

Radient Pharmaceuticals (RPC) Provides Domestic and International Target Market Details for Its Onko-Sure(R) IVD Cancer Diagnostic Test

TUSTIN, CA–(Marketwire – August 11, 2010) –   Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) announced today it will present its Onko-Sure in vitro diagnostic (IVD) cancer test to distribution partners at the annual Vietnam International Medical, Hospital and Pharmaceutical exhibition — Vietnam Medi-Pharm Expo, held August 18-21 at the Tan Binh International Exhibition & Convention Center in Ho Chi Minh City, Vietnam. RPC will present at Booth 112 in Hall 3 of the exhibition and convention center.

“The Vietnam Medi Pharm Expo in Ho Chi Minh City is the most prestigious specialized exhibition in Vietnam, with participation from hundreds of local and foreign organizations, groups and enterprises,” commented Dr. Nguyen Quoc Trieu, Minister of Health for Vietnam. “The exhibition offers a premier venue for the medical circle to showcase their latest advancements, achievements, modern technologies, new medicines and healthcare and treatment services.”

Douglas MacLellan, Chairman and CEO of RPC, also commented saying, “We are committed to expanding commercialization efforts for Onko-Sure® in Asia and ASEAN partner countries healthcare markets. Vietnam is an important growth market for RPC and our goal is to leverage this event to increase product sales and distribution in Asia and other ASEAN member states this year.”

Target ASEAN states for RPC include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. The total population for ASEAN is approximately 580 million people or 8.7% of the world population. In 2009, this region’s combined nominal gross domestic product (GDP) exceeded more than USD $1.5 trillion, and as a single country, ASEAN ranks as the 9th largest economy worldwide in terms of GDP.

RPC’s Onko-Sure IVD cancer test is a simple, non-invasive, patent-pending and regulatory-approved in vitro diagnostic (IVD) test used for the detection and monitoring of the treatment and/or recurrence of various types of cancer. The test enables physicians and healthcare professionals to effectively detect and/or monitor certain types of cancers by measuring the accumulation of Fibrin and Fibrinogen Degradation Products (FDP) in the blood. FDP levels rise dramatically with the progression of cancer. Onko-Sure® is cleared by the US FDA for the treatment and/or recurrence monitoring of colorectal cancer and by Health Canada for the detection, treatment and/or recurrence monitoring of lung cancer. For more information visit www.onko-sure.com.

RPC Contact Information:
For additional information on Radient Pharmaceuticals, ADI and its portfolio of products visit the Company’s corporate website at www.Radient-Pharma.com. For Investor Relations information contact Kristine Szarkowitz at IR@Radient-Pharma.com or 1.206.310.5323.

About Radient Pharmaceuticals:
Headquartered in Tustin, California, Radient Pharmaceuticals is dedicated to saving lives and money for patients and global healthcare systems through the deployment of its Onko-Sure® In Vitro Diagnostic cancer test. The company’s focus is on the discovery, development and commercialization of unique high-value diagnostic tests that help physicians answer important clinical questions related to early disease detection; treatment strategy; and the monitoring of disease progression, prognosis, and diagnosis to ultimately improve patient outcomes. Radient Pharmaceutical’s current Onko-Sure cancer test is used to guide decisions regarding patient treatment, which may include decisions to refer patients to specialists, perform additional testing, or assist in the selection of therapy. To learn more about our company, people and potentially life-saving cancer test, visit www.radient-pharma.com.

Forward-Looking Statements:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company’s operations, markets, services, products, and prices. With respect to Radient Pharmaceuticals Corporation, except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.

Geokinetics (GOK) Announces Project Award Valued in Excess of $110 Million

HOUSTON, Aug. 26 /PRNewswire-FirstCall/ — Geokinetics Inc. (NYSE Amex: GOK) today announced that Petroleos Mexicanos (PEMEX) has awarded its Mexican subsidiary a seismic acquisition contract valued in excess of $110 million for work in Mexico.  The project will be for a seamless Ocean Bottom Cable, Transition Zone and land seismic data acquisition survey that is scheduled to commence late in the fourth quarter 2010 and last through early 2012.

Richard F. Miles, President and Chief Executive Officer, commented, “We are especially pleased to have been chosen for this project as this award highlights the strategic rationale behind our recent acquisition of PGS Onshore.

“Sustained solid bidding activity gives us confidence that our backlog will continue to grow and that Geokinetics is well positioned to benefit as the industry continues to recover.”

About Geokinetics Inc.

Geokinetics Inc. is a leading provider of seismic data acquisition, seismic data processing services and multi-client seismic data to the oil and gas industry worldwide. Headquartered in Houston, Texas, Geokinetics is the largest Western contractor acquiring seismic data onshore and in transition zones in oil and gas basins around the world. Geokinetics has the crews, experience and capacity to provide cost-effective world class data to our international and North American clients. For more information on Geokinetics, visit www.geokinetics.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Geokinetics expects, believes or anticipates will or may occur in the future are forward-looking statements.  These statements include but are not limited to statements about the business outlook for the year, backlog and bid activity, future contract awards, financial performance and statements with respect to future events. These statements are based on certain assumptions made by Geokinetics based on management’s experience and perception of historical trends, industry conditions, market position, future operations, profitability, liquidity, backlog, capital resources and other factors believed to be appropriate.  Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Geokinetics, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks relating to general economic conditions and conditions in the oil and gas industry, financial performance and results, job delays or cancellations, reductions in oil and gas prices, impact from severe weather conditions and other important factors that could cause actual results to differ materially from those projected, or backlog not to be completed, as described in the Company’s reports filed with the Securities and Exchange Commission. Backlog consists of written orders and estimates of Geokinetics’ services which it believes to be firm, however, in many instances, the contracts are cancelable by customers so Geokinetics may never realize some or all of its backlog which may lead to lower than expected financial performance.

Although Geokinetics believes that the expectations reflected in such statements are reasonable, it can give no assurance that such expectations will be correct.  All of Geokinetics’ forward-looking statements, whether written or oral, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany such forward-looking statements.  Any forward-looking statement speaks only as of the date on which such statement is made and Geokinetics undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.

Shengkai Innovations (VALV) Wins Contract from Hong Kong’s Power Generation Industry

TIANJIN, China, Aug. 26 /PRNewswire-Asia-FirstCall/ — Shengkai Innovations, Inc. (Nasdaq: VALV; “Shengkai Innovations” or the “Company”), a leading ceramic valve manufacturer with operations in the People’s Republic of China (the “PRC”), today announced that it has won its first key contract in Hong Kong.

After one year of testing and stringent selection procedures, Shengkai Innovations’ valve products have been well received by Hong Kong power generation companies due to its products’ long durability and high quality under both high temperature and high pressure. Shengkai’s V-shape ceramic ball valves can serve as direct replacements for its Indian counterparts, which its new Hong Kong customers previously used. As of August 16, 2010, Shengkai Innovations has filled 3 commercial orders under the new contract from major power generator in Hong Kong.

Mr. Chen Wang, Chairman and Chief Executive Officer of Shengkai Innovations, remarked, “We are excited about our entrance in Hong Kong as this represents a key milestone: our entry into another important market with high quality standards. With over 7 million residents, massive tourist traffic and some of world’s most active ports, Hong Kong’s power generators are under tremendous pressure to ensure ongoing electricity supplies and to avoid power outages. The selection of our valves by Hong Kong power company is an encouraging endorsement on the reliability of our ceramic products’ quality.”

About Shengkai Innovations, Inc.

Shengkai Innovations is engaged in the design, manufacture and sale of ceramic valves, high-tech ceramic materials and the provision of technical consultation and related services. The Company’s industrial valve products are used by companies in the electric power, petrochemical, metallurgy, and environmental protection industries as high-performance, more durable alternatives to traditional metal valves. The Company was founded in 1994 and is headquartered in Tianjin, the PRC.

The Company is one of the few ceramic valve manufacturers in the world with research and development, engineering, and production capacity for structural ceramics and is the only valve manufacturer in China that is able to produce large-sized ceramic valves with calibers of 6″ or more. The Company’s product portfolio includes a broad range of valves that are sold throughout the PRC, to Europe, North America, United Arab Emirates, and other countries in the Asia-Pacific region. The Company has over 400 customers, and is the only ceramic valve supplier qualified to supply SINOPEC. The Company also became a member of the PetroChina supply network in 2006.

Safe Harbor Statements

Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the effect of political, economic, and market conditions and geopolitical events, legislative and regulatory changes, the Company’s ability to expand and upgrade its production capacity, the actions and initiatives of current and potential competitors, and other factors detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission and other regulatory authorities. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    For more information, please contact:

    Shengkai Innovations, Inc.
     David Ming He
     Chief Financial Officer
     Phone: +86-22-2858-8899
     Email: ir@shengkai.com
     Web:   http://www.shengkaiinnovations.com

Deltron (DTRO) Secures International Patent Rights for Breathing Valve Technology

GARDEN GROVE, Calif.–(BUSINESS WIRE)–Deltron, Inc. (OTCBB: DTRO – News) is pleased to announce that on August 4, 2010 the Company signed an agreement to secure both domestic and international patent rights for integral components of its highly innovative rebreather technology. Deltron’s Blu Vu division designs and develops components as well as complete systems for closed-circuit rebreathers, underwater life support systems that recirculate breathing gases to enable deeper, longer and more productive commercial and recreational dives.

Deltron has acquired the marketing and development rights to a highly innovative breathing valve and mouthpiece design comprised of a bailout valve, mouthpiece and valve unit for its leading edge rebreather systems. The acquisition gives its Blu Vu division the rights to develop new products based on the technology and to license the technology to other manufacturers of rebreathers and rebreather components throughout the United States, Europe and Australia. Patent applications for the technology have been filed and are awaiting approval.

Henry Larrucea, Deltron CEO, commented: “Securing international and domestic patent rights for these critical designs puts Blu Vu on firm footing for growth and leadership in the rebreather sector. We are proud of the design and development of these components and believe they add significantly to the value of Deltron’s intellectual property portfolio.”

Blu Vu designs and develops proprietary closed-circuit rebreathers and components for deep sea oil & gas exploration, mining, search and rescue, fire, building safety and hazardous materials applications as well as for recreational diving. Rebreathers are highly efficient breathing systems that recirculate the gas a diver breathes, removing the carbon dioxide generated by human metabolism and adding oxygen and other gases to replace what is consumed. Rebreathers are more efficient and less limiting than conventional scuba systems, enabling commercial and recreational divers to go deeper, stay underwater longer, increase productivity during dives, and minimize decompression obligations.

About Deltron, Inc. (DTRO.OB)

Deltron acquires profitable businesses with strong management teams, substantial revenue and established market positions. Wholly owned Elasco is a proven innovator in product manufacturing with a 31-year operating history, diverse customer base and vertically integrated manufacturing facility in Garden Grove, California. Blu Vu, a division of Deltron, is a developer of proprietary closed circuit rebreather technology and components that go beyond conventional scuba systems to enable commercial and recreational divers to go deeper, stay underwater longer and recover faster.

This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. DTRO has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates”, “believes”, “estimates”, “expects”, “plans”, “intends”, “potential” and similar expressions. These statements reflect DTRO’s current beliefs and are based upon information currently available to it.

Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause DTRO’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. DTRO undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.

Fronteer Gold Inc. (FRG) Emerging Copper-Gold Porphyry Returns 646.50 Metres of Continuous Copper-Gold Mineralization

VANCOUVER, BRITISH COLUMBIA–(Marketwire – 08/25/10) – Fronteer Gold (TSX:FRG – News)(AMEX:FRG – News) announces that a new drill hole has returned the longest interval of continuous copper-gold mineralization ever intersected at the early-stage Halilaga porphyry project in northwestern Turkey.

Assay highlights from HD-54, drilled within Halilaga’s Central Zone, are as follows:

 

--  0.26 g/t gold and 0.33% copper over 646.50 metres starting from surface
    and including:
    --  0.65 g/t gold and 0.89% copper over 106.80 metres, including 0.63
        g/t gold and 1.50% copper over 33.0 metres; and,
    --  a deeper zone averaging 0.23 g/t gold and 0.24% copper over 143.70
        metres.

Based on the success of this significant hole, the drill plan has been modified and an additional rig has been added to the program, for a total of four rigs.

“Halilaga’s Central Zone and the surrounding prospective district have seen relatively minimal exploration. This drill hole demonstrates the continuation of the deposit to the north, well beyond what was previously thought to be the edge of the system,” says Fronteer Gold President and CEO, Mark O’Dea. “Halilaga provides Fronteer Gold with excellent upside exposure to an exciting new deposit. Porphyry copper-gold deposits are an increasingly important part of global gold production because of their size, long mine life and strong cash-flow potential.”

The Halilaga project is accessible by road; situated in favourable terrain; and surrounded by excellent infrastructure.

HD-54 cored mineralized porphyry for its entire length, including two zones of moderate- to higher grade copper-gold mineralization. The hole cored the main zone of copper-gold porphyry mineralization and supergene enrichment before passing through a prominent east-west near-vertical fault and then intersecting a postulated down-dropped block of porphyry mineralization under younger volcanic cover on the northern portion of the property.

Teck Resources Limited’s Turkish subsidiary, (“TMST”) is Fronteer Gold’s 60% joint venture partner and project operator. There are currently three core rigs and one RC rig operating as part of a $2.7 million drill program, funded 60%/40% by TMST and Fronteer Gold. The program includes 10,000 metres of core drilling, with 8,500 metres of drilling planned for the Central Zone, and the remainder planned for regional porphyry targets through the property. This program is currently one-third complete.

Fronteer Gold anticipates completing the first resource estimate for the project by Q1-2011, dependent on sufficient drilling being completed.

 

Drill highlights
---------------------------------------------------------------------------
                       From               Intercept
Hole ID             (metres) To (metres)    (metres)    Au (g/t)      Cu (%)
---------------------------------------------------------------------------
HD-54                  0.00      646.50      646.50        0.26        0.33
---------------------------------------------------------------------------
Including              0.00      392.80      392.80        0.32        0.41
---------------------------------------------------------------------------
Including              4.50      111.30      106.80        0.65        0.89
---------------------------------------------------------------------------
Including             17.00       50.00       33.00        0.63        1.50
---------------------------------------------------------------------------
and
including            502.80      646.50      143.70        0.21        0.23
---------------------------------------------------------------------------
All true widths are 80-90% of reported widths unless otherwise stated.
All intervals of no sampling have been assigned zero grade for the purposes
of compositing.

For a cross-section highlighting HD-54, please clickhttp://www.fronteergold.com/sites/files/fronteer_admin/HalilagaCrossSection1028.pdf

Drill samples and analytical data for Halilaga are collected under the supervision of TMST, Fronteer Gold’s joint venture partner and project operator, using industry standard QA-QC protocols. Ian Cunningham-Dunlop, P. Eng, Vice President Exploration for Fronteer Gold, who is the QP responsible for compiling the data contained in this release, has not verified all the data; however, the grades and widths reported here agree well with the company’s past results on the project and correspondence with TMST has given him no reason to doubt their authenticity. For further details on Halilaga, please view the NI 43-101 technical report entitled “NI 43-101 Technical Report on the Halilaga Exploration Property, Canakkale, Western Turkey”, dated March 30, 2009, prepared by Peter Grieve, of Geology and Resource Solutions Limited, on SEDAR at http://www.sedar.com.

ABOUT FRONTEER GOLD

We intend to become a significant gold producer. Our solid financial position and strong operational team give us the ability to advance our key gold projects through to production. Our future potential production platform includes our Long Canyon, Sandman and Northumberland projects – all located in Nevada, one of the friendliest gold-mining jurisdictions in the world.

Except for the statements of historical fact contained herein, certain information presented constitutes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to, those with respect to potential expansion of mineralization, potential size of mineralized zone, and size of exploration program involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Fronteer Gold to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to international operations and joint ventures , the actual results of current exploration activities, conclusions of economic evaluations, uncertainty in the estimation of ore reserves and mineral resources, changes in project parameters as plans continue to be refined, future prices of gold and silver, environmental risks and hazards, increased infrastructure and/or operating costs, labor and employment matters, and government regulation and permitting requirements as well as those factors discussed in the section entitled “Risk Factors” in Fronteer Gold’s Annual Information form and Fronteer Gold’s latest Form 40-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although Fronteer Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Fronteer Gold disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements.

Occam Networks (OCNW) Provides PSC with FTTH Solutions for Santa Claus, Indiana Network

Aug. 25, 2010 (Business Wire) — Occam Networks (NASDAQ:OCNW) today announced that Perry-Spencer Rural Telephone Cooperative, Inc. (d/b/a PSC), has deployed the Occam BLC 6000 multiservice access platform (MSAP) in a FTTH project serving Christmas Lake Village in Santa Claus, Indiana. PSC selected Occam to provide equipment for an ILEC fiber overbuild as PSC looks to enhance its broadband service. This FTTH upgrade of PSC’s network, which also provides broadband services throughout a three county region of southern Indiana, is further enhancing the voice, video and data needs of the community.

“It has always been PSC’s goal to assist in the economic development of our rural community by providing quality and affordable telecommunications services,” said Daren Brown, Plant Manager of PSC. “In working with Occam over the past six years, their outstanding operational support has allowed us to improve our service offerings with ease. Now, we have once again improved the user experience with new and more video services and more Internet bandwidth.”

As a customer since 2004, PSC experienced success with its deployment of Occam’s copper solutions and 10Gigabit Ethernet. Prior to selecting Occam, PSC was delivering DSL at low speed with limited video capabilities. When it became necessary to provide its customers with more service options, PSC began work on a new infrastructure that would provide capacity for high-bandwidth services today and in the future. Over the last six months, PSC has installed a mix of Active Ethernet and GPON technologies from the BLC 6000 MSAP and transitioned some of their ILEC customers from copper and added new CLEC customers to a fiber-based network.

“Since PSC first partnered with Occam on their copper deployment, we have helped them branch into competitive service areas and now support them through their fiber overbuild,” said Juan Vela, Director, Solutions Marketing and Strategy for Occam Networks. “Because PSC made a future-looking commitment to its network and service offerings, they are able to target new revenue streams and grow their business into competitive communities. We are very pleased to align with PSC’s commitment to develop advanced broadband services in rural and underserved areas.”

In addition to the new fiber deployment in Santa Claus, Indiana, earlier this year PSC added Active Ethernet to serve business customers from its existing 10Gigabit Ethernet ring. The network was initially deployed for fixed wireless backhaul and has facilitated the convergence of wireless and business Ethernet traffic. PSC is currently in the process of connecting hospitals and small to medium businesses (SMBs) with high-speed voice, video and data over copper, fiber and native Ethernet services. Occam currently supports over 2,000 total access lines throughout PSC’s service network.

About Occam Networks, Inc.

Occam Networks’ broadband access solutions empower service providers to offer profitable new voice, data and video services over copper and fiber. Occam systems deliver flexibility and scalability in a Triple Play world. Over 3 million BLC 6000 ports are currently deployed at over 380 service providers worldwide. For more information, please visit www.occamnetworks.com.

Cautionary Note About Forward-Looking Statements

Portions of this press release may contain forward-looking statements regarding future events or the future performance of Occam Networks, including statements predicting increased adoption of products and technologies offered by Occam and the willingness and ability of our customers to purchase additional Occam products and upgrade their product offerings. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from any future performance suggested in such statements. In particular, rapidly changing technologies and market conditions may require changes to Occam’s products, and the willingness of our customers to purchase upgraded products such as Triple Play will depend in part on customers’ existing network configurations and any incremental costs associated with implementing upgrades. Occam does not undertake any obligation to publicly update any forward-looking statements as a result of new information, future events or otherwise. Please also refer to the company’s most recent quarterly report on Form 10-Q, annual report on Form 10-K and other filings with the SEC. These filings contain and identify other important factors that could cause actual results to differ materially from those contained in any forward-looking statements.

Occam Networks and Occam BLC 6000 are either registered trademarks or trademarks of Occam Networks, Inc. in the United States and/or other countries.

All other trademarks mentioned are the property of their respective owners.

Somaxon Pharmaceuticals (SOMX) Announces Silenor(R) Co-Promotion Agreement with Procter & Gamble

Aug. 25, 2010 (Business Wire) — Somaxon Pharmaceuticals, Inc. (Nasdaq:SOMX) today announced that Somaxon and Procter & Gamble (NYSE:PG) have entered into a co-promotion agreement for Silenor® (doxepin), a newly-approved treatment for insomnia characterized by difficulty with sleep maintenance.

Under the terms of the agreement, Somaxon and Procter & Gamble will co-promote Silenor with a combined 215 sales representatives in the U.S. market. Procter & Gamble’s professional health care sales force will promote Silenor to targeted primary care and other high-prescribing physicians. Somaxon’s focus will be on specialists and other top-decile physicians who treat insomnia. In addition, Procter & Gamble will promote Silenor to targeted pharmacies and will provide supplemental managed care support services for Silenor. Somaxon has also granted Procter & Gamble a right of first negotiation relating to rights to develop and market Silenor as an over-the-counter medication in the U.S.

“We are extremely excited to add Procter & Gamble’s highly regarded and tenured professional sales force to our commercialization effort for Silenor,” said Richard W. Pascoe, Somaxon’s President and Chief Executive Officer. “With the combined effort of both sales forces, we will target 35,000 of the highest prescribers of insomnia products as well as 25,000 pharmacies, which we believe will allow us to be highly competitive in the insomnia market. In addition, we are excited about the potential to partner with Procter & Gamble for the OTC rights to Silenor as a future life cycle management opportunity.”

“We are thrilled to partner with Somaxon to co-promote Silenor,” said Thomas M. Finn, President, Global Health Care at Procter & Gamble. “This opportunity is an excellent fit with P&G Health Care’s current and future business interests, and we are confident P&G’s professional sales force will help Silenor deliver both for patients and in the marketplace.”

Somaxon will record all sales of Silenor and will pay Procter & Gamble a combination of fixed fees and a royalty based on U.S. net sales. Each party will be responsible for the costs of maintaining and operating its own sales force, and Somaxon is responsible for all other costs pertaining to the commercialization of Silenor. The term of the agreement runs through December 31, 2012, renewable thereafter, and Somaxon will pay Procter & Gamble a reduced royalty based on U.S. net sales of Silenor for one year after the expiration of the agreement or its earlier termination under certain circumstances. Governance of the collaboration will occur through a joint commercialization committee.

Conference Call Information and Forward-Looking Statements

On Wednesday, August 25, 2010, Somaxon will conduct a conference call with interested parties beginning at 9:00 a.m. ET (6:00 a.m. PT) to discuss the contents of this press release. The conference call will be available to interested parties through a live audio Internet broadcast at http://investors.somaxon.com/eventdetail.cfm. The call will also be archived and accessible for approximately two weeks. Alternatively, callers may participate in the conference call by dialing (480) 629-9822. A telephonic replay will be available for approximately one week following the conclusion of the call by dialing (303) 590-3030, and entering passcode 4356913.

Discussion during the conference call may include forward-looking statements regarding such topics as, but not limited to, commercialization plans for Silenor®, Somaxon’s financial status and performance and any comments Somaxon may make about its future plans or prospects in response to questions from participants on the conference call.

About Silenor®

Silenor is a low-dose (3 mg, 6 mg) oral tablet formulation of doxepin that is patent protected for use in insomnia. The Silenor NDA was approved in March 2010 for the treatment of insomnia characterized by difficulties with sleep maintenance. The NDA included all of the data from the company’s development program, including data from Somaxon’s clinical trial program that evaluated 1,017 subjects exposed to Silenor from 12 studies.

Important Safety Information

A doctor should be consulted if insomnia worsens or is not better within 7 to 10 days. This may mean that there is another condition causing the sleep problem.

Patients should be sure that they are able to devote 7 to 8 hours to sleep before being active again. Silenor should be taken within 30 minutes of bedtime. Patients should not take Silenor with alcohol or with other medicines that can cause drowsiness. Silenor should not be taken with or within two weeks after taking a monoamine oxidase inhibitor (MAOI). Patients should not take Silenor if they have untreated narrow angle glaucoma, if they have severe urinary retention, if they have severe sleep apnea or if they are allergic to any of the ingredients in Silenor. Until patients know how they will react to Silenor, they should not drive or operate machinery at night after taking Silenor, and they should be careful in performing such activities during the day following taking Silenor. Before taking Silenor, patients should tell their doctors if they have a history of depression, mental illness or suicidal thoughts. Patients should call their doctors right away if after taking Silenor they walk, drive, eat or engage in other activities while asleep. Drowsiness was the most common adverse event observed in clinical trials.

For more information, please see the complete Prescribing Information, including the Medication Guide, at www.silenor.com or www.somaxon.com.

About Somaxon Pharmaceuticals, Inc.

Headquartered in San Diego, CA, Somaxon Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the in-licensing, development and commercialization of proprietary branded pharmaceutical products and late-stage product candidates for the treatment of diseases and disorders in the central nervous system therapeutic area. Somaxon’s product Silenor® (doxepin) has been approved by the FDA for the treatment of insomnia characterized by difficulty with sleep maintenance.

For more information, please visit the company’s web site at www.somaxon.com.

Somaxon cautions readers that statements included in this press release and the conference call that are not a description of historical facts are forward-looking statements. For example, statements regarding the commercialization of Silenor, including the number of sales representatives to be deployed and the numbers of physicians and pharmacies to be targeted, the potential to license over-the-counter rights to Silenor to Procter & Gamble, and Somaxon’s operating expense guidance are forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Somaxon that its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in Somaxon’s business, including, without limitation, Somaxon’s ability to successfully commercialize Silenor; Somaxon’s reliance on third parties, Procter & Gamble and Publicis, for critical aspects of the commercial sales process for Silenor; the performance of Procter & Gamble and Publicis and their adherence to the terms of their contracts with Somaxon; the ability of Somaxon’s sales management personnel to effectively manage the sales representatives employed by Publicis; the ability of Somaxon to ensure adequate and continued supply of Silenor to successfully launch commercial sales or meet anticipated market demand; the scope, validity and duration of patent protection and other intellectual property rights for Silenor; whether the approved label for Silenor is sufficiently consistent with such patent protection to provide exclusivity for Silenor; Somaxon’s ability to operate its business without infringing the intellectual property rights of others; the market potential for insomnia treatments, and Somaxon’s ability to compete within that market; inadequate therapeutic efficacy or unexpected adverse side effects relating to Silenor that could delay or prevent commercialization, or that could result in recalls or product liability claims; other difficulties or delays in development, testing, manufacturing and marketing of Silenor; the timing and results of post-approval regulatory requirements for Silenor, and the FDA’s agreement with Somaxon’s interpretation of such results; Somaxon’s ability to raise sufficient capital to fund its operations, and the impact of any such financing activity on the level of its stock price; the impact of any inability to raise sufficient capital to fund ongoing operations; and other risks detailed in Somaxon’s prior press releases as well as in its periodic filings with the Securities and Exchange Commission.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Somaxon undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934.

Coldwater Creek (CWTR) Announces Second Quarter 2010 Results

SANDPOINT, Idaho — Coldwater Creek Inc. (Nasdaq: CWTR) today reported financial results for the three- and six-month periods ended July 31, 2010.

Second Quarter 2010 Operating Results

• Net sales were $253.5 million, compared with $225.2 million in the fiscal 2009 second quarter. Sales from the retail segment, which includes the Company’s premium retail stores, outlet stores and day spa locations, were $195.4 million versus $183.4 million in the fiscal 2009 second quarter. Comparable premium store sales increased 4.8 percent in the second quarter versus the second quarter of fiscal 2009.  Direct sales (internet and phone) increased 39.0% to $58.1 million from $41.8 million in the same period last year.
• Gross profit for the fiscal 2010 second quarter was $84.7 million, or 33.4 percent of net sales, compared with $75.7 million, or 33.6 percent of net sales, for the fiscal 2009 second quarter. The 20 basis point decrease in gross profit margin was primarily due to increased promotional activity as compared to last year, which was partially offset by improvements in IMU and occupancy leverage.
• Selling, general and administrative expenses (“SG&A”) for the fiscal 2010 second quarter were $82.5 million, or 32.6 percent of net sales, compared with $82.8 million, or 36.8 percent of net sales, for the fiscal 2009 second quarter. The decline in SG&A as a percentage of net sales was driven primarily by leveraging of employee-related expenses, partially offset by a planned increase in marketing expense as compared to last year.
• Net income for the three-month period was $1.5 million, or $0.02 per diluted share, compared with a net loss of $4.9 million, or $0.05 per share, for the three-month period ended August 1, 2009.

“During the second quarter, we generated our fourth consecutive quarter of positive comparable premium store sales and a 39% increase in Direct sales, while maintaining disciplined cost controls resulting in our lowest ever quarterly SG&A rate as a public company, all of which contributed to our second straight quarter of profitability,” stated Dennis Pence, Chairman and Chief Executive Officer of Coldwater Creek. “In addition, we made considerable progress toward achieving our inventory goals. Most encouraging is that the initiatives we implemented at the start of the year are bringing back a level of predictability and consistency to our business despite the challenges of the difficult economy.”

“I am confident in our merchandising and creative direction for fall, which shows further progress to return our offerings and aesthetic to the eclectic and natural fashion sensibility that our customers look to us for,” Mr. Pence continued.  “In the second half of 2010, we expect to realize increased merchandise margins due to more conservative inventory plans, which, combined with our continued focus on expense control, position us well to meet our profitability expectations for the fall and holiday seasons.”

First Six Months Operating Results

• Net sales were $496.6 million, compared with $453.6 million in the first six months of fiscal 2009. Sales from the retail segment were $371.4 million versus $354.1 million in the first half of fiscal 2009. Direct sales (internet and phone) were $125.2 million, compared with $99.5 million in the same period last year.
• Gross profit for the first half of fiscal 2010 was $175.6 million, or 35.4 percent of net sales, compared with $146.8 million, or 32.4 percent of net sales, for the first half of fiscal 2009. The increase in gross profit was primarily due to higher merchandise margins as well as leveraging of occupancy expenses.
• Selling, general and administrative expenses for the first six months of fiscal 2010 were $169.0 million, or 34.0 percent of net sales, compared with $165.5 million, or 36.5 percent of net sales, for the first half of fiscal 2009. The decline in SG&A as a percentage of sales was primarily related to leveraging of employee-related costs, partially offset by increased marketing expenses.
• Net income for the six-month period was $3.8 million, or $0.04 per diluted share, compared with a net loss of $12.5 million, or $0.14 per share, for the first half of fiscal 2009.

Balance Sheet

At July 31, 2010, cash totaled $72.3 million, as compared with $85.4 million in cash at August 1, 2009.  Premium retail store inventory per square foot, including retail inventory in the distribution center, decreased by approximately 4.0 percent. Total inventory increased 17.7% to $166.4 million from $141.3 million at the end of the second quarter of 2009. Working capital increased by $16.0 million to $114.6 million from $98.6 million at August 1, 2009.

Store Openings

The Company opened five new premium retail stores during the three-month period ended July 31, 2010, ending the quarter with 364 premium retail stores.  The Company remains on track to open approximately 20 new premium retail stores in fiscal 2010.

Outlook

For the third quarter of fiscal 2010, the Company expects to report earnings per share in the range of $0.01 to $0.04, which compares to actual third quarter fiscal 2009 net loss per share of $0.37, which included approximately $0.33 per share in charges related to a valuation allowance against net deferred tax assets and separation agreement charges.  Our expected results for the third quarter assume, among other things, a low single digit year-over-year increase in total net sales.

For fiscal 2010, the Company continues to expect to report earnings per share between $0.08 and $0.12.  This compares to actual fiscal 2009 net loss per share of $0.61, which included approximately $0.33 per share in charges related to a valuation allowance against net deferred tax assets, separation agreement charges, and non-cash asset impairment charges.

Conference Call Information

Coldwater Creek will host a conference call on Wednesday, August 25, 2010, at 8:30 a.m. (Eastern) to discuss fiscal 2010 second quarter results. To listen to the live Web cast, log on to the Investor Relations section of the Company’s Web site at http://www.coldwatercreek.com/. The call will be archived from approximately one hour after the conference call until Wednesday, September 8, 2010. The replay can be accessed by dialing (877) 660-6853 and providing account number 3055 and conference ID 355008. A replay and transcript of the call will also be available in the investor relations section of the Company’s Web site.

Founded in 1984, and headquartered in Sandpoint, Idaho, Coldwater Creek is a leading specialty retailer of women’s apparel, gifts, jewelry, and accessories. The company sells its merchandise through premium retail stores across the country, online at coldwatercreek.com and through its catalogs.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release contains “forward-looking statements” within the meaning of the securities laws, including statements relating to our operating results for our third fiscal quarter and 2010 fiscal year; customer acceptance of our new merchandise offerings; future merchandise margins, expense and inventory levels; and new store openings.  These statements are based on management’s current expectations and are subject to a number of uncertainties, risks and assumptions that may not fully materialize or may prove incorrect. As a result, our actual results may differ materially from those expressed or implied by the forward-looking statements. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, but are not limited to:

• the inherent difficulty in forecasting consumer buying and retail traffic patterns and trends, which continue to be erratic and are affected by factors beyond our control, such as the current macroeconomic conditions, high unemployment, continuing heavy promotional activity in the specialty retail marketplace, and competitive conditions and the possibility that because of lower than expected customer response, or because of competitive pricing pressures, we may be required to sell merchandise at lower than expected margins, or at a loss;
• difficulties in forecasting consumer demand as a result of changing fashion trends and consumer preferences;
• the possibility that our sales and earnings expectations will not be realized, due to changing business and economic conditions;
• our potential inability to recover the substantial fixed costs of our retail store base due to sluggish sales;
• our potential inability to continue to fund our operations solely with operating cash as a result of either lower sales or higher than anticipated costs, or both;
• delays we may encounter in sourcing merchandise from our foreign and domestic vendors, including the potential inability of our vendors to finance production of the goods we order or meet our production needs due to raw material or labor shortages; risks related to our foreign sourcing strategy; and the possibility that foreign sourcing may not lead to any reduction of our sourcing costs or improvement in our margins;
• increasing competition from discount retailers and companies that have introduced concepts or products similar to ours;
• difficulties encountered in anticipating and managing customer returns and the possibility that customer returns will be greater than expected;
• the inherent difficulties in catalog management, for which we incur substantial costs prior to mailing that we may not be able to recover, and the possibility of unanticipated increases in mailing and printing costs;
• unexpected costs or problems associated with our efforts to manage our expanding and increasingly complex business, including our current efforts to improve key management information systems and controls;
• the risk that the benefits expected from our strategic initiatives will not be achieved or may take longer to achieve than we expect;

and such other factors as are discussed in our most recent Annual Report on Form 10-K and quarterly report on 10-Q filed with the U.S. Securities and Exchange Commission. You should not place undue reliance on forward-looking statements, which are based on current expectations and speak only as of the date of this release. We do not assume any obligation to publicly release any revisions to forward-looking statements to reflect events or changes in our expectations occurring after the date of this release.

PROLOR Biotech (PBTH) Receives FDA Clearance for a Phase II Trial of Its Long-Acting Human Growth Hormone

NES-ZIONA, Israel, Aug. 24 /PRNewswire-FirstCall/ — PROLOR Biotech, Inc. (NYSE Amex: PBTH), a company developing next generation biobetter therapeutic proteins, today announced that it has received regulatory clearance from the U.S. Food and Drug Administration (FDA) to conduct a Phase II clinical trial in the U.S. of its longer-acting version of human growth hormone, hGH-CTP.  The regulatory clearance followed PROLOR’s submission of an Investigational New Drug (IND) application for hGH-CTP that included preclinical and Phase I clinical data, as well as plans for additional animal studies that the company intends to complete prior to initiation of Phase III trials. The hGH-CTP Phase II clinical program is currently ongoing in various clinical centers in Europe.

“The FDA regulatory clearance for conducting a Phase II trial of hGH-CTP in the U.S. is an important milestone for PROLOR,” said Dr. Abraham Havron, CEO of PROLOR. “This Phase II trial, which is underway at centers in a number of European countries, is an integral part of a comprehensive and coordinated clinical development program that has been carefully designed to generate the data that we anticipate will be necessary to obtain future marketing authorization in the U.S. and Europe, as well as in other localities.  We currently do not plan to include sites in the U.S. in this Phase II trial, but the FDA clearance helps ensure that we will be fully in sync with regulatory requirements in key territories, including the U.S., allowing us to utilize the hGH-CTP European Phase II program as the basis for our anticipated submission of applications to conduct Phase III trials in both the U.S. and Europe.”

PROLOR is developing hGH-CTP to provide growth hormone deficient adults and children with growth hormone therapy that requires only once-weekly or bi-monthly injections, rather than the multiple injections per week required by current hGH regimens.  The hGH-CTP Phase II clinical program follows a successful Phase I trial that suggested that hGH-CTP, in addition to meeting all safety and tolerability endpoints, could potentially be effective when injected just twice per month.

The hGH-CTP Phase II trial is a randomized, open-label, dose-finding study to evaluate the safety, tolerability, pharmacokinetics and pharmacodynamic properties of hGH-CTP injected either weekly or twice-monthly in patients with growth hormone deficiency who currently receive daily injections of growth hormone.  The trial is being conducted at up to 14 sites in six countries.

ABOUT PROLOR BIOTECH

PROLOR Biotech, Inc. is a biopharmaceutical company applying unique technologies, including its patented CTP technology, primarily to develop longer-acting, biobetter, proprietary versions of already-approved therapeutic proteins that currently generate billions of dollars in annual global sales.  The CTP technology is applicable to virtually all proteins, and PROLOR is currently developing long-acting versions of human growth hormone, which is in clinical development, and interferon beta, factor VII, factor IX and erythropoietin, which are in preclinical development, as well as GLP-1 and other therapeutic peptides.  For more information on PROLOR, visit www.prolor-biotech.com.

Safe Harbor Statement:  This press release contains forward-looking statements, which may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “would”, “intends,” “estimates,” “suggests” and other words of similar meaning, including statements regarding the results of current clinical studies and preclinical experiments and the effectiveness of PROLOR’s long-acting protein programs, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect PROLOR’s business and prospects, including the risks that PROLOR may not succeed in generating any revenues or developing any commercial products, including any long-acting versions of human growth hormone, erythropoietin, interferon beta, GLP-1 and other products; that the long-acting products in development may fail, may not achieve the expected results or effectiveness and/or may not generate data that would support the approval or marketing of these products for the indications being studied or for other indications; that ongoing studies may not continue to show substantial or any activity; that the actual dollar amount of any grants from Israel‘s Office of the Chief Scientist is uncertain and is subject to policy changes of the Israeli government, and that such grants may be insufficient to assist with product development; and other risks and uncertainties that may cause results to differ materially from those set forth in the forward-looking statements. The results of clinical trials in humans may produce results that differ significantly from the results of clinical and other trials in animals. The results of early-stage trials may differ significantly from the results of more developed, later-stage trials. The development of any products using the CTP platform technology could also be affected by a number of other factors, including unexpected safety, efficacy or manufacturing issues, additional time requirements for data analyses and decision making, the impact of pharmaceutical industry regulation, the impact of competitive products and pricing and the impact of patents and other proprietary rights held by competitors and other third parties.  In addition to the risk factors described above, investors should consider the economic, competitive, governmental, technological and other factors discussed in PROLOR’s filings with the Securities and Exchange Commission.  The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements, except as required under applicable law.

Prana (PRAN) Secures Key PBT2 Patents in the United States and Europe

MELBOURNE, AUSTRALIA–(Marketwire – 08/24/10) – Prana Biotechnology (NASDAQ:PRAN – News) (ASX:PBT – News) today announced that it has secured key PBT2 patents in Europe and the United States.

The United States Patent and Trademark Office (USPTO) has Granted a composition of matter patent for selected 8-hydroxyquinoline compounds, including its lead clinical asset, PBT2, in the United States. The patent titled ‘8-Hydroxyquinoline derivatives’ also covers pharmaceutical compositions containing PBT2 and selected 8-hydroxyquinoline compounds.

The USPTO has additionally extended the term of this patent by approximately 2.5 years resulting in an expiry date calculated to be 21 December 2025. This expiry date may in the future be further extended by the application of pharmaceutical extension of term provisions in that country.

Since previously announcing the grant of the related European case, the company is also pleased to confirm the expiry of the mandatory 9 month post-grant opposition period whereby third parties can register objections. Absent any third party opposition, the European case has now been placed on the Register of European patents.

The European patent has a twenty year term expiring on 16 July 2023, with a possible extension of term of up to 5 years under supplementary protection provisions.

Prana has announced new results highlighting the therapeutic opportunity for PBT2 in Huntington’s disease in addition to Alzheimer’s disease. The announcement was made during a Hot Topic session at the ICAD meeting in Honolulu in July 2010.

Geoffrey Kempler, Prana’s Executive Chairman, said, “The grant and extension of PBT2 patent rights in the United States together with securing European patent rights marks a critical milestone in our commercialization plans, offering opportunity in both Huntington’s disease and Alzheimer’s disease.”

About Prana Biotechnology Limited
Prana Biotechnology was established to commercialise research into Alzheimer’s Disease and other major age-related neurodegenerative disorders. The Company was incorporated in 1997 and listed on the Australian Stock Exchange in March 2000 and listed on NASDAQ in September 2002. Researchers at prominent international institutions including The University of Melbourne, The Mental Health Research Institute (Melbourne) and Massachusetts General Hospital, a teaching hospital of Harvard Medical School, contributed to the discovery of Prana’s technology.

For further information please visit the Company’s web site at www.pranabio.com.

Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. The Company has tried to identify such forward-looking statements by use of such words as “expects,” “intends,” “hopes,” “anticipates,” “believes,” “could,” “may,” “evidences” and “estimates,” and other similar expressions, but these words are not the exclusive means of identifying such statements. Such statements include, but are not limited to any statements relating to the Company’s drug development program, including, but not limited to the initiation, progress and outcomes of clinical trials of the Company’s drug development program, including, but not limited to, PBT2, and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to the difficulties or delays in financing, development, testing, regulatory approval, production and marketing of the Company’s drug components, including, but not limited to, PBT2, the ability of the Company to procure additional future sources of financing, unexpected adverse side effects or inadequate therapeutic efficacy of the Company’s drug compounds, including, but not limited to, PBT2, that could slow or prevent products coming to market, the uncertainty of patent protection for the Company’s intellectual property or trade secrets, including, but not limited to, the intellectual property relating to PBT2, and other risks detailed from time to time in the filings the Company makes with Securities and Exchange Commission including its annual reports on Form 20-F and its reports on Form 6-K. Such statements are based on management’s current expectations, but actual results may differ materially due to various factions including those risks and uncertainties mentioned or referred to in this press release. Accordingly, you should not rely on those forward-looking statements as a prediction of actual future results.

TradeStation (TRAD) Now Offers Futures Trading on Eurex

PLANTATION, Fla., Aug. 24, 2010 (GLOBE NEWSWIRE) — TradeStation Securities, the award-winning broker-dealer for active traders, and a leading provider of custom analysis and trading solutions, today announced the launch of real-time trading in Eurex futures, competitively priced and seamlessly integrated into the TradeStation platform. Eurex is one of the world’s leading global derivatives exchanges, notably for futures, with a product suite comprising the world’s most actively traded and liquid market in EUR-denominated equity index derivatives.

The TradeStation platform can now be used to trade DAX and Euro Stoxx Index futures along with 19 other popular Eurex products. In addition, TradeStation‘s TradeManager Balances tab now displays non-U.S. dollar (USD) currency account ledgers. This means that futures traders now have the option of funding their accounts in one of the major local currencies (CAD, CHF, EUR, GBP and JPY), in addition to USD, and viewing their buying power, realized P&L and unrealized P&L in a USD-equivalent account.

“The ability to trade more futures markets around the world, and being able to fund accounts in foreign currencies, have been two of our most requested enhancements,” said Salomon Sredni, Chief Executive Officer of TradeStation Group, Inc., the parent company of TradeStation Securities. “For traders who trade CME, ICE and Eurex futures — and wish to fund their accounts in a major local currency of their choice — this represents a significant addition to TradeStation’s product offerings.”

To speak with a registered representative about TradeStation or opening an equities, futures or forex account with TradeStation Securities, a FINRA, NYSE, SIPC and NFA member firm, call 1-800-808-9336, or visit http://www.tradestation.com. Institutional traders should call 1-800-579-7616.

Please join TradeStation for a LiveOnTheWeb online seminar on September 14, 2010 at 4:30 p.m., Eastern Time, demonstrating our new Eurex offering. This event will be hosted by Stanley Dash, Vice President of Applied Technical Analysis, and special guest Paul Curtis, Vice President of Business Development at Eurex. To register for this event, please visit us at: https://www.tradestation.com/support/webinars/.

About TradeStation Group, Inc.

TradeStation Group, Inc. (Nasdaq:TRAD – News), through its principal operating subsidiary, TradeStation Securities, Inc., offers the TradeStation platform to the active trader and certain institutional trader markets. TradeStation is an electronic trading platform that offers state-of-the-art electronic order execution and enables clients to design, test, optimize, monitor and automate their own custom Equities, Options, Futures and Forex trading strategies.

TradeStation Securities, Inc. (Member NYSE, FINRA, SIPC, DTCC, OCC & NFA) is a licensed securities broker-dealer and a registered futures commission merchant, and also a member of the Boston Options Exchange, Chicago Board Options Exchange, Chicago Stock Exchange, International Securities Exchange and NASDAQ OMX. Its TradeStation Prime Services division, based in New York, seeks to provide prime brokerage services to small and mid-sized hedge funds and other firms. The company’s technology subsidiary, TradeStation Technologies, Inc., develops and offers strategy trading software tools and subscription services. Its London-based subsidiary, TradeStation Europe Limited, an FSA-authorized brokerage firm, introduces UK and other European accounts to TradeStation Securities.

Forward-Looking Statements — Issues, Uncertainties and Risk Factors

This press release contains statements that are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “believe,” “will,” and similar expressions, if and to the extent used, are intended to identify forward-looking statements. All forward-looking statements are based largely on current expectations and beliefs concerning future events that are subject to substantial risks and uncertainties. Actual results and events may differ materially from those suggested herein. Factors that may cause or contribute to the potential differences include, but are not limited to, (i) unanticipated delays in the rollout of TradeStation’s new Eurex offering as a result of discoveries or comments made by or from brokerage clients and subscribers, or otherwise as a result of design flaws or other technical issues that may arise or become known, (ii) the company’s brokerage clients or the active or institutional trader markets not considering the quality or performance of TradeStation’s new Eurex offering to be as valuable or useful as the company believes they will, (iii) the size of the Eurex trader market not being as large as the company believes it is, and (iv) the issues, risks and uncertainties described in the company’s filings with the Securities and Exchange Commission including, but not limited to, the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009, and other SEC filings, and company press releases, conference calls and public presentations or statements.

Daktronics, Inc. (DAKT) Announces First Quarter Fiscal 2011 Results

BROOKINGS, S.D., Aug. 24, 2010 (GLOBE NEWSWIRE) — Daktronics, Inc. (Nasdaq:DAKT) today reported fiscal 2011 first quarter net sales of $100.5 million and net income of $2.4 million, or $0.06 per diluted share, compared to net sales of $113.5 million and net income of $1.4 million, or $0.03 per diluted share, for the first quarter of fiscal 2010. Backlog at the end of the 2011 first quarter was approximately $144 million, compared with a backlog of approximately $113 million a year earlier and $127 million at the end of the fourth quarter of fiscal 2010.

Free cash flow, defined as cash provided by operations, less net purchases of property and equipment, was $11.9 million in the first quarter of fiscal 2011, compared to $3.8 million in the first quarter of fiscal 2010. Cash on hand at the end of the first quarter of fiscal 2011 was $71.8 million.

“We were pleased with the order performance for the quarter,” said Jim Morgan, president and chief executive officer. “Although orders tend to be lumpy, especially for our large contract business, a look at orders over the most recent two fiscal quarters compared to the same quarters a year ago show increases in the Commercial, International and Transportation business units, while the Live Events and Schools and Theaters business units have declined over that time. It appears that the business units that turned down first with the economic decline are the first to show signs of recovery. Live Events is especially dependent on large contracts, which tend to have a longer sales cycle. The net result is that total orders for the company are up for the most recent two fiscal quarters compared to the same two fiscal quarters a year ago. Subject to the general uncertainties of the economy, it seems that we might be through the worst of the downturn for our business.”

Morgan continued, “We are pleased to report that we received a significant order from a major outdoor advertising company that had not placed significant orders with us during the previous 12 months. This is indicative of the fact that digital boards are providing an attractive return-on-investment for the outdoor advertising companies, which encourages them to continue to invest in digital. It also represents the positive response we have had to our new Series 4000 digital billboard technology, which we announced at the end of fiscal 2010. During the last six weeks, we also booked two orders for our architectural lighting technology – one for a new construction commercial project in Hong Kong and the other for an existing office building in Minneapolis. We are excited about the growth opportunities for this new technology. The order for Hong Kong was booked in our second quarter of fiscal 2011, as was the previously announced order for Miller Park, home of the Milwaukee Brewers. Therefore, these orders are not included in our reported backlog numbers, but they give us a nice start on orders for our second fiscal quarter. Orders in our Schools and Theaters business unit included a number of transactions over $500,000 each, which offset a decline in smaller standard product orders. A number of these larger orders were facilitated by our sports marketing group, which assists the schools in procuring the necessary funding through sponsorships.”

“Our operating expenses were down more than 26% from the first quarter of fiscal 2009, the quarter preceding the downturn in our business, and down 16% from the first quarter of fiscal 2010, as a result of our cost reduction efforts,” said Bill Retterath, chief financial officer. “We expect our non-manufacturing cost structure to remain generally flat, while our manufacturing costs will fluctuate with volumes. Operating expenses could be up slightly in the second quarter of fiscal 2011. This would be due to some unusually low costs in the first quarter of fiscal 2011 and the inherent variability quarter to quarter in the amount of engineering work applied to contracts, and hence cost of goods sold, as opposed to product development which gets applied to operating expenses.

“Gross profit percentage was higher as compared to the fourth quarter of fiscal 2010 as a result of lower warranty and reduced inventory write down costs, combined with better plant utilization due to higher sales,” continued Retterath. “Given the current pricing environment, and based on the orders in our backlog, we anticipate continued pressure on gross profit margins. We will continue our efforts at reducing our costs of delivering a high quality product to our customers on a timely basis. We are seeing some parts shortages in the industry, resulting in longer lead times from our suppliers, especially with electronic parts. This can cause higher costs due to expediting and rearranging manufacturing schedules. It could also negatively impact sales in the second quarter of fiscal 2011.”

Morgan concluded, “Looking forward, a significant portion of our backlog remains scheduled beyond our second quarter; however, we expect net sales to rise slightly in second quarter compared to the first quarter of fiscal 2011. Our focus remains the same and includes increasing order bookings, reducing costs throughout our value streams, improving reliability and quality, maintaining a high level of on-time delivery, and strengthening our after sales service delivery. This includes an increased focus on strategic sourcing initiatives by leveraging a global supply chain. We will continue to focus on free cash flow, with our priorities for cash being funding operations, including developing new and improved product offerings, expanding markets for existing products, and investing in business process improvement initiatives to create shareholder value over time.”

Webcast Information

The company will host a conference call and webcast to discuss its financial results today at 10:00 am (Central Time). This call will be broadcast live at http://investor.daktronics.com and available for replay shortly after the event.

About Daktronics

Daktronics has strong leadership positions in, and is the world’s largest supplier of, large screen video displays, electronic scoreboards, LED text and graphics displays, and related control systems. The company excels in the control of display systems, including those that require integration of multiple complex displays showing real-time information, graphics, animation and video. Daktronics designs, manufactures, markets and services display systems for customers around the world, in Sport, Business, Schools and Theaters and Transportation segments. For more information, visit the company’s World Wide Web site at: http://www.daktronics.com, e-mail the company at investor@daktronics.com, call (605) 692-0200 or toll-free (800) 843-5843 in the United States or write to the company at 201 Daktronics Dr., PO Box 5128 Brookings, S.D. 57006-5128.

The Daktronics logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5476

Safe Harbor Statement

Cautionary Notice: In addition to statements of historical fact, this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to enjoy the protection of that Act. These forward-looking statements reflect the Company’s expectations or beliefs concerning future events. The Company cautions that these and similar statements involve risk and uncertainties which could cause actual results to differ materially from our expectation, including, but not limited to, changes in economic and market conditions, management of growth, timing and magnitude of future contracts, parts shortages and longer lead times, fluctuations in margins, the introduction of new products and technology, and other risks noted in the company’s SEC filings, including its Annual Report on Form 10-K for its 2010 fiscal year. Forward-looking statements are made in the context of information available as of the date stated. The Company undertakes no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.

CONTACT:  Daktronics, Inc.
          Investor Relations:
          Bill Retterath, Chief Financial Officer
          (605) 692-0200
          Investor@daktronics.com

PricewaterhouseCoopers LLP to Acquire Diamond Management & Technology Consultants, Inc. (DTPI) for $378 Million

MEDIA: PricewaterhouseCoopers LLP, Caroline Nolan, +1-202-312-7510, Caroline.S.Nolan@us.pwc.com; or Diamond Management and Technology Consultants, Inc., David Moon, +1-312-255-4560, David.Moon@diamondconsultants.com; or INVESTORS: Diamond Management and Technology Consultants, Inc., Christian Sadlier, +1-312-255-5711, Christian.Sadlier@diamondconsultants.com

Samson Oil & Gas (SSN) to Present at EnerCom’s The Oil & Gas Conference® 15

DENVER–(BUSINESS WIRE)–Samson Oil & Gas Limited (ASX:SSN – News) (NYSE AMEX:SSN) is scheduled to present at EnerCom’s The Oil and Gas Conference® 15 on Monday, August 23, at 1445 hours MST in the US (Tuesday 24^th, 0445 hours EST in Australia). The conference, which is being held in Denver, is dedicated to the energy industry and is the premier event in the US conference circuit, attended by a diverse range of institutional investors, research analysts and investment professionals. The event is being webcast and can be accessed at: http://www.vcall.com/customevent/conferences/enercom/20100823/webcast.html

The presentation is available on Samson’s website (www.samsonoilandgas.com).

Samson’s Ordinary Shares are traded on the Australian Securities Exchange under the symbol “SSN”. Samson’s American Depository Shares (ADSs) are traded on the New York Stock Exchange AMEX under the symbol “SSN”. Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 1,663 million ordinary shares issued and outstanding, which is the equivalent of 83.15 million ADSs. Accordingly, based on the NYSE AMEX closing price of US$1.16 per ADS on August 20^th, 2010 the company has a market capitalization of approximately US$99.4 million. Correspondingly, based on the ASX closing price of A$0.066 on August 11^th, 2010, the company has a market capitalization of A$108.1 million.

For and on behalf of the board of

SAMSON OIL & GAS LIMITED

TERRY BARR
Managing Director

Statements made in the presentation that is available on Samson’s website that are not historical facts may be forward looking statements, including but not limited to statements using words like “may”, “believe”, “expect”, “anticipate”, “should” or “will.”

Actual results may differ materially from those projected in any forward-looking statement. There are a number of important factors that could cause actual results to differ materially from those anticipated or estimated by any forward looking information, including uncertainties inherent in estimating the methods, timing and results of exploration activities.

A description of the risks and uncertainties that are generally attendant to Samson and its industry, as well as other factors that could affect Samson’s financial results, are included in the Company’s registration statement and report to the U.S. Securities and Exchange Commission on Form 20-F, as amended, a copy of which is available at www.sec.gov/edgar/searchedgar/webusers.htm.

Great Basin (GBG) Provides Mineral Resource Update for its Burnstone Gold Project in South Africa

VANCOUVER, Aug. 23 /PRNewswire-FirstCall/ – Great Basin Gold Ltd, (“Great Basin” or the “Company”), (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces an updated mineral resource estimate for its Burnstone Project in the Mpumalanga Province, South Africa.

The updated mineral resource estimate, inclusive of all drilling and underground evaluation up to June 30, 2010 and at a range of cutoffs, is tabulated below. At a cutoff of 400 cmg/t the total Measured and Indicated Resources has increased by 3% from approximately 11.7 million ounces to 12.1 million ounces of gold.

    -------------------------------------------------------------------------
                              Burnstone Project
                       Mineral Resources - August 2010
    -------------------------------------------------------------------------
                                                               Au
                          Cut off       Millions       ----------------------
    Classification         cmg/t         Tonnes         g/t           oz
    -------------------------------------------------------------------------
                            300           40.0          5.78       7,435,000
                          ---------------------------------------------------
    Measured                350           36.5          5.90       6,927,180
                          ---------------------------------------------------
                            400           33.7          6.01       6,514,390
    -------------------------------------------------------------------------
                            300           31.2          6.44       6,472,770
                          ---------------------------------------------------
    Indicated               350           27.2          6.84       5,978,830
                          ---------------------------------------------------
                            400           24.1          7.20       5,567,960
    -------------------------------------------------------------------------
                            300           71.2          6.07      13,907,770
    Measured +            ---------------------------------------------------
    Indicated               350           63.7          6.30      12,906,010
                          ---------------------------------------------------
                            400           57.8          6.50      12,082,350
    -------------------------------------------------------------------------

Contained gold in the inferred resources at a cutoff of 400 cmg/t is estimated to total approximately 8.0 million ounces, a 74% increase from the previous estimate of 4.6 million ounces.

    -------------------------------------------------------------------------
                              Burnstone Project
                       Mineral Resources - August 2010
    -------------------------------------------------------------------------
                                                               Au
                          Cut off       Millions       ----------------------
    Classification         cmg/t         Tonnes         g/t           oz
    -------------------------------------------------------------------------
                            300           67.5          4.33       9,392,970
                          ---------------------------------------------------
    Inferred                350           61.0          4.49       8,799,830
                          ---------------------------------------------------
                            400           52.2          4.75       7,977,520
    -------------------------------------------------------------------------

    Notes to tables:

    1.  Mineral resources that are not mineral reserves do not have
        demonstrated economic viability.
    2.  Metallurgical recoveries are not applied to resource values.

As this project is now moving into production, the mineral resource classification method applied in this update is more rigorous in terms of the minimum number of informing samples for Measured (4), Indicated (2), and Inferred (1). The number of informing Kimberley Reef intersections utilized in this resource estimate totals 610, inclusive of 339 surface boreholes, 35 underground boreholes, and 362 underground channel intersections. In addition, historic deflections from surface boreholes totalling 819 have been used where appropriate for assay and sedimentological confirmation. Geozones of the area of interest were updated as part of the basis for the estimation, but have remained very similar to the previous June 2009 update. These zones are delineated by a combination of variable geological parameters such as channel width, gold grade (g/t) and gold accumulation (cm.g/t), footwall lithology, and sedimentary facies.

Variography generated from the current geostatistical analyses have confirmed sediment influx from the NE in Geozones 1 and 3, mixing with an overall NW – SE paleofacies trend, and in line with previous observations. The continued underground exposure of Kimberley Reef is providing a basis for detailed evaluation data (channel samples) and structural mapping. All told, the results demonstrate higher confidence in the estimated total Measured and Indicated resources.

President and CEO Ferdi Dippenaar commented: “The focus in the past 12 months has been on construction and development of this exciting project, with exploration limited to strategically-placed surface drilling, and closer-spaced underground delineation and cover drilling. Nevertheless we have increased the overall resources, by some 75% in inferred and 3% in the more detailed measured and indicated categories, and added to the life of the mine. Concurrent sampling of approximately 3,600 metres of underground development on the reef has contributed to an improved understanding and higher confidence in the orebody. This is valuable information that will assist in achieving the increased rate of mining planned for the remainder of 2010 and 2011.”

The Burnstone goldfield is defined by an 18 kilometer long, northwesterly trending mineralized corridor hosting the Kimberley Reef, one of four main gold-bearing units in the Witwatersrand Basin. At Burnstone, the central portion of the gold corridor has been uplifted by two northwesterly trending sub-parallel faults and, as a result, a significant portion of the deposit areas along the trend occur at relatively shallow depths of 200-750 meters below surface.

The mineral resource estimation was done using geostatistical methods by Freddie de Bruin, Pr.Sci.Nat., and John Murgatroyd, Pr.Sci.Nat., of Deswiks Mining Consultants (Pty) Ltd., independent Qualified Persons as defined by Canadian Securities Regulations in National Instrument 43-101. The primary analytical facility for the Burnstone Project from 2003-2005 has been SGS Lakefield Research Africa (Pty) Limited and subsequently (2006-2010), ALS Chemex has been the primary laboratory. Both facilities are located in Johannesburg, South Africa.

Phil Bentley, Pr.Sci.Nat., VP: Geology and Exploration for Great Basin Gold Ltd., a Qualified Person as defined by Canadian Securities Regulations in National Instrument 43-101, has reviewed and approved the information within this news release.

No regulatory authority has approved or disapproved the information contained in this news release.

Information Concerning Estimates of Measured, Indicated and Inferred Resources

This news release also uses the terms “measured resources”, “indicated resources” and “inferred resources”. The Company advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, ‘inferred resources’ have a great amount of uncertainty as to their existence, and 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, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

Cautionary and Forward Looking Statement Information

This document contains “forward-looking statements” that were based on Great Basin’s expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “outlook”, “anticipate”, “project”, “target”, “believe”, “estimate”, “expect”, “intend”, “should” and similar expressions. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These include but are not limited to:

    -   uncertainties and costs related to the Company's exploration and
        development activities, such as those associated with determining
        whether mineral resources or reserves exist on a property;
    -   uncertainties related to feasibility studies that provide estimates
        of expected or anticipated costs, expenditures and economic returns
        from a mining project; uncertainties related to expected production
        rates, timing of production and the cash and total costs of
        production and milling;
    -   uncertainties related to the ability to obtain necessary licenses,
        permits, electricity, surface rights and title for development
        projects;
    -   operating and technical difficulties in connection with mining
        development activities;
    -   uncertainties related to the accuracy of our mineral reserve and
        mineral resource estimates and our estimates of future production and
        future cash and total costs of production, and the geotechnical or
        hydrogeological nature of ore deposits, and diminishing quantities or
        grades of mineral reserves;
    -   uncertainties related to unexpected judicial or regulatory
        proceedings;
    -   changes in, and the effects of, the laws, regulations and government
        policies affecting our mining operations, particularly laws,
        regulations and policies relating to
        -  mine expansions, environmental protection and associated
           compliance costs arising from exploration, mine development, mine
           operations and mine closures;
        -  expected effective future tax rates in jurisdictions in which our
           operations are located;
        -  the protection of the health and safety of mine workers; and
        -  mineral rights ownership in countries where our mineral deposits
           are located, including the effect of the Mineral and Petroleum
           Resources Development Act (South Africa);
    -   changes in general economic conditions, the financial markets and in
        the demand and market price for gold, silver and other minerals and
        commodities, such as diesel fuel, coal, petroleum coke, steel,
        concrete, electricity and other forms of energy, mining equipment,
        and fluctuations in exchange rates, particularly with respect to the
        value of the U.S. dollar, Canadian dollar and South African rand;
    -   unusual or unexpected formation, cave-ins, flooding, pressures, and
        precious metals losses (and the risk of inadequate insurance or
        inability to obtain insurance to cover these risks);
    -   changes in accounting policies and methods we use to report our
        financial condition, including uncertainties associated with critical
        accounting assumptions and estimates;
    -   environmental issues and liabilities associated with mining including
        processing and stock piling ore;
    -   geopolitical uncertainty and political and economic instability in
        countries which we operate; and
    -   labour strikes, work stoppages, or other interruptions to, or
        difficulties in, the employment of labour in markets in which we
        operate mines, or environmental hazards, industrial accidents or
        other events or occurrences, including third party interference that
        interrupt the production of minerals in our mines.

For further information on Great Basin Gold, investors should review the Company’s annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.com and home jurisdiction filings that are available at www.sedar.com.

Applied Energetics (AERG) Enters Into Teaming Agreement With L-3 Interstate Electronics Corporation

TUCSON, Ariz. — Applied Energetics, Inc. (Nasdaq: AERG) today announced that it has entered into a strategic teaming agreement with L-3 Interstate Electronics Corporation (IEC) to pursue DoD contracts involving counter-IED systems. L-3 Communications is the 6th largest defense contractor in the United States, and IEC is an operating division of L-3 Communications. Under the terms of this agreement, Applied Energetics will serve as prime contractor with L-3 IEC positioned as subcontractor. The two companies intend to collaborate on proposal development, marketing of systems and services and activities mutually agreed in the pursuit of new business.

The agreement will provide Applied Energetics a leading engineering, technical and manufacturing group capability. Applied Energetics intends to focus its efforts in technical areas requiring high voltage electronics, systems integration, systems testing and development for support of advanced counter-IED technologies. L-3 IEC is expected to contribute expertise in power electronics, systems engineering, configuration control and production management.

Joseph Hayden, President and Chief Operating Officer of Applied Energetics, commented, “We are very pleased to be able to work closely with L-3 Interstate Electronics Corporation and formalize the relationship that has been growing between our companies. L-3 IEC has been providing field support for our counter-IED systems and their responsiveness, professionalism and quality of personnel have been superb. This agreement is expected to allow us to leverage their experience and capabilities to establish a solid reputation for delivering quality electronics to the DoD and commercial customers. Our companies will continue to examine ways in which we can work together to provide outstanding service, products and value to our customers.”

About Applied Energetics, Inc.

Applied Energetics, Inc., based in Tucson, Arizona, specializes in development and manufacture of advanced high performance lasers, high voltage electronics, advanced optical systems, and integrated guided energy systems for defense, aerospace, industrial, and scientific customers worldwide. Applied Energetics pioneered the development of Laser Guided Energy™ (LGE™) technology, and related solutions for defense and security applications. For more information about Applied Energetics, please visit www.appliedenergetics.com.

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

Certain statements contained in this News Release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Such factors include, but are not limited to: the dependence on sales of a limited number of products and the uncertainty of the timing and magnitude of government funding and orders, dependence on sales to government customers; the uncertainty of patent protection; the uncertainty of strategic alliances; the uncertainty of management tenure; the impact of third-party suppliers’ manufacturing constraints or difficulties; management’s ability to achieve business performance objectives, market acceptance of, and demand for, the Company’s products, and resulting revenues; development and testing of technology and products; manufacturing capabilities; impact of competitive products and pricing; litigation and other risks detailed in the Company’s filings with the Securities and Exchange Commission. The words “looking forward,” “believe,” “demonstrate,” “intend,” “expect,” “contemplate,” “estimate,” “anticipate,” “likely” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Applied Energetics undertakes no obligation to update any forward-looking statements contained in this news release.

CI Investments Modernizes Data Management and Protection by Standardizing on CommVault (CVLT) Software

Aug. 23, 2010 (Business Wire) — CommVault (NASDAQ: CVLT):

News Facts

• CI Investments, a subsidiary of CI Financial Corp., an independent wealth management firm with approximately $94 billion in fee-earning assets, has implemented CommVault® Simpana® software to drive significant disaster recovery cost savings and operational efficiencies. By investing in Simpana enterprise data and information management software, CI Investments projects a 12-to-18 month ROI and forecasts a savings in storage-related costs of more than $1 million over a four-year period.
• To enhance investor protection, ensure excellent customer service and better comply with key Canadian regulations, CI Investments is leveraging Simpana software including Simpana Backup & Recovery, Replication and Archive modules, as well as Simpana software’s integrated Deduplication feature.
• CommVault Simpana software provides scalability, simplified administration, support for multiple applications, and a single pane of glass management view of data across the organization. As a result, CI Investments cites major strides in accommodating rapid business growth, more automated business processes, and improved availability of mission-critical financial data.
• CI Investments manages a mix of 250 physical and virtual file servers running Microsoft Windows, IBM AIX and Sun Solaris and 135 TBs of near-line storage to support crucial Sybase, Oracle and SQL databases that fuel essential fund administration and trading systems.

Tweet This: CI Investments projects saving over $1 million after implementing @CommVault Simpana http://bit.ly/tHOP

Investing in Simpana Software’s Singular Platform to Boost Efficiency, Lower Costs

• According to the investment management company, Simpana software’s singular platform facilitates access to different types of scalable, flexible functionality that helps increase efficiencies, enable business process improvement and reduce costs.
• CI Investments selected CommVault’s embedded deduplication capability as the company felt Simpana software’s hardware-independent approach would scale more affordably. With the addition of deduplication, storage requirements are expected to be slashed by 50 percent to save a projected $288,000 in media and offsite storage costs over a four-year period.
• To ensure the highest levels of protection, encrypted and compressed deduplicated data is replicated to a central site using the Simpana Replication module, which eases disaster recovery. According to the company, the elimination of daily backups to tape, which CI Investments reports saves 25-percent in tape storage costs, has led to the projection of an additional savings of $433,000 over four years.
• CI Investments also takes advantage of the Simpana Archive module to migrate less-critical data from Tier 1 to less-expensive Tier 2 storage. The company reports that secondary storage yields a 30 percent savings over Tier 1 SAN costs, which is projected to save $480,000 over the same four-year period.
• Using the Simpana backup module, CI Investments reports a 40 percent reduction in its nightly backup window, decreasing the time it takes to backup data from 11 hours to less than six. Meanwhile, the company has migrated from tape to disk for daily backups and restores, which has decreased recovery times from 15 hours to less than two.
• The customer also reports plans to further leverage CommVault’s virtualization support as well as other Simpana software features to simplify the search and discovery of Exchange data to reinforce compliance, audit and eDiscovery capabilities.

Supporting Quotes

From Terry Tick, vice president of infrastructure at CI Investments:

• “With Simpana software, we’ve streamlined business processes so we can better allocate resources while taking business continuity to a whole new level. Along the way, we’ve driven down disaster recovery costs while delivering unparalleled customer service.”
• “The closer we looked at Simpana software, it became clear that we could take advantage of a single platform to deal with rapid business growth as well as facilitate fast data recovery without overburdening our infrastructure.”
• “CommVault Simpana software’s flexibility, scalability and ease of use combined to clinch the deal. We also were able to project a 12-to-18 month ROI in Simpana software, which enabled us to build a compelling business case for standardizing on CommVault.”
• “With Simpana software, we have access to all types of functionality that will continually give us a leg up in increasing efficiencies while reducing costs. So far, our total projected savings in storage-related costs over the next four years exceed $1 million and we’re not done yet. We look forward to working with CommVault to reach new heights in DR preparedness and enterprise data management.”

From Brian D’Souza, manager of UNIX infrastructure at CI Investments:

• “CommVault’s global dedupe works across all data types, sources and platforms without the same limitations as dedupe appliances. With CommVault’s hardware-agnostic solution, scaling would be more affordable since we could add commodity hardware as our data grew without being tied to a dedicated and expensive appliance.”
• “Consolidating and automating backups with Simpana software is huge for us. We no longer have to deal with multiple software products or manage separate contracts all over the country.”
• “The Simpana archive module is enabling another great data reduction strategy for us, but it’s also helping us improve overall information management so we can address data retention and information lifecycle issues more effectively.”
• “With CommVault technology, we also can ease the search and discovery of all Exchange data as part of a plan to reinforce compliance, audit and eDiscovery capabilities.”

Resources

• CI Investments case studyhttp://news.commvault.com/pdf/ci-investments.pdf
• CommVault® Simpana® 8 Softwarehttp://www.commvault.com/products.html
• CommVault Simpana Deduplication Softwarehttp://www.commvault.com/solutions-deduplication.html
• CommVault Simpana Replication Softwarehttp://www.commvault.com/products-replication.html
• More on CommVault Archivehttp://www.commvault.com/products-archive.html
• More CommVault newshttp://news.commvault.com/
• Follow CommVault on Twitterhttp://twitter.com/CommVault

About CommVault

A singular vision – a belief in a better way to address current and future data and information management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault’s exclusive single-platform architecture gives companies unprecedented control over data growth, costs and risk. CommVault’s Simpana® software modules were designed to work together seamlessly from the ground up, sharing a single code and common function set, to deliver superlative Data Backup, Archive, Replication, Search and Resource Management capabilities. More companies every day join those who have discovered the unparalleled efficiency, performance, reliability, and control only CommVault can offer. Information about CommVault is available at www.commvault.com. CommVault’s corporate headquarters is located in Oceanport, New Jersey in the United States.

Safe Harbor Statement

Customers’ results may differ materially from those stated herein; CommVault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding CommVault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. CommVault does not undertake to update its forward-looking statements.

©1999-2010 CommVault Systems, Inc. All rights reserved. CommVault, CommVault and logo, the “CV” logo, CommVault Systems, Solving Forward, SIM, Singular Information Management, Simpana, CommVault Galaxy, Unified Data Management, QiNetix, Quick Recovery, QR, CommNet, GridStor, Vault Tracker, InnerVault, Quick Snap, QSnap, Recovery Director, CommServe, CommCell, SnapProtect, ROMS and CommValue, are trademarks or registered trademarks of CommVault Systems, Inc. All other third party brands, products, service names, trademarks, or registered service marks are the property of and used to identify the products or services of their respective owners. All specifications are subject to change without notice.

Qiao Xing Universal Resources, Inc. (XING) Reports First Quarter 2010 Financial Results

HUIZHOU, China — Qiao Xing Universal Resources, Inc. (Nasdaq: XING) (“the Company” or “XING”), an emerging Chinese resources company headquartered in Huizhou, Guangdong Province, today announced its unaudited results for the three months ended March 31, 2010.

    First Quarter Highlights
    -- The Company reported net income of RMB73.0 million (US$10.7 million),
       or RMB0.81 (US$0.12) per basic share, compared to a net loss of RMB21.5
       million or RMB0.69 per basic share in the first quarter of 2009.

    -- Net sales were RMB195.4 million (US$28.6 million) compared to RMB460.8
       million in the first quarter of 2009.

    -- Gross profit was RMB27.4 million (US$4.0 million) compared to RMB82.3
       million in the first quarter of 2009. Gross margin was 14.1% compared
       to 17.9% in the first quarter of 2009.

    Financial Review of Operations for the Molybdenum Mine Business
    -- Consolidated revenue from the mining business for the first quarter of
       2010 totaled RMB58.0 million (US$8.5 million). Gross profit was RMB26.5
       million (US$3.9 million), resulting in gross margin of 45.7%. Net
       income totaled RMB17.9 million (US$2.6 million) in the first quarter of
       2010, a decrease of 47.3% from the fourth quarter of 2009, primarily
       due to seasonal factors related to the long Chinese New Year holiday
       in February 2010, when most mining businesses in North China shut down
       operations

    -- Molybdenum concentrate production in the first quarter of 2010 was
       620.3 tons, equivalent to 298.1 tons (0.66 million pounds) of
       molybdenum metal.

    -- Average cost of sales per ton of molybdenum metal produced in the first
       quarter of 2010 was RMB105,647 (US$15,478), or RMB47.91 (US$7.02) per
       pound. Average cash cost of sales per ton of molybdenum metal produced
       in the first quarter of 2010 was RMB66,004 (US$9,670), or RMB29.93
       (US$4.38) per pound  (The Company produces molybdenum concentrate and
       does not engage in smelting operations, so the cash cost does not
       include the cost of smelting.)

    -- Capital expenditures for the mining business in the first quarter of
       2010 totaled RMB33.6 million (US$4.9 million). These capital
       expenditures were all used for the construction of the mine.

Financial Conditions

As of March 31, 2010, XING and its subsidiary held $554.4 million in cash and cash equivalents and $515.9 million in working capital. Shareholders’ equity was $643.3 million as of March 31, 2010.

Upcoming Events

The Company is close to coming up with a proposal on sorting out its relationship with its subsidiary Qiao Xing Mobile Communication Co., Ltd. (NYSE: QXM) and expects to announce the proposal once it is approved by the Board of Directors.

The Company will release its earnings results for the second quarter and six months ended June 30, 2010 by September 15. The Company expects that earnings from its mining business in the second quarter will be better than the first quarter.

                             FINANCIAL TABLES FOLLOW

               Qiao Xing Universal Resources Inc. and its Subsidiaries
                   Condensed Consolidated Profit and Loss Account
                          For three months ended March 31

                                               2009              2010
                                              RMB'000     RMB'000     US$'000

     Net sales                                460,756     195,427      28,631
     Cost of goods sold                      (378,498)   (167,978)    (24,609)
           Gross profit                        82,258      27,449       4,021
        Total operating expenses              (42,037)    (42,373)     (6,208)
           Income from operation               40,221     (14,924)     (2,186)
        Net non-operating income (loss)       (38,280)     90,520      13,261
           Income before income tax             1,941      75,596      11,075
     Provision for income tax                 (12,665)     (7,993)     (1,171)
           Net income from continuing
            operations, net of tax            (10,724)     67,603       9,904
     Discontinued operations, net of tax       (7,984)         --          --
           Net income (loss) for the
            period                            (18,708)     67,603       9,904
     Net loss (income) attributable to the
      noncontrolling interest                  (2,800)      5,374         787
           Net income (loss) after
            attribution of the
            noncontrolling interest           (21,508)     72,977      10,691
     To participatory convertible notes            --      (1,605)       (235)
     To common stock                          (21,508)     71,372      10,456
     Basic earnings (loss) per common
      share:
           Before extraordinary gain            (0.69)       0.81        0.12
           Extraordinary gain                      --          --          --
           After extraordinary gain             (0.69)       0.81        0.12
     Weighted average number of shares
      outstanding
           Basic                           30,948,836  87,725,193  87,725,193

               Qiao Xing Universal Resources Inc. and its Subsidiaries
                        Condensed Consolidated Balance Sheet

                                           December 31,        March 31,
                                               2009              2010
                                             RMB'000      RMB'000     US$'000
     ASSETS
     CURRENT ASSETS
        Cash and cash equivalents           3,709,503    3,784,205    554,397
        Restricted cash                       251,720      204,090     29,900
        Bills receivable                           --       24,000      3,516
        Accounts receivable, net              123,082      208,801     30,590
        Inventories                            98,012      156,174     22,880
        Prepaid expenses                      184,339      165,191     24,201
        Other current assets                   37,025       39,061      5,723
        Due from related parties                   25        1,136        166
        Deferred income taxes                  15,942       13,089      1,918
        Deferred debt issuance costs, net          --           --         --
        Assets held for sale                  163,000          548         80
        Due from discontinued operations      200,000      200,000     29,301
          TOTAL CURRENT ASSETS              4,782,648    4,796,294    702,671
     NON-CURRENT ASSETS
        Property, machinery and
         equipment, net                       170,485      226,460     33,177
        Proven and probable reserves          712,121      705,059    103,293
        Construction-in-progress               86,591       37,231      5,454
        Investment at cost                      5,000        5,000        733
        Goodwill                               82,058       82,058     12,022
        Value beyond proven and probable
         reserves                              67,295       67,295      9,859
        Other acquired intangible assets,
         net                                    4,433        3,325        487
        Deferred income taxes -
         noncurrent                                --        2,272        333
          TOTAL NON-CURRENT ASSETS          1,127,983    1,128,698    165,358
          TOTAL ASSETS                      5,910,631    5,924,993    868,029
     LIABILITIES, MINORITY INTERESTS AND
      SHAREHOLDERS' EQUITY
     CURRENT LIABILITIES
        Short term bank borrowings            884,708      924,430    135,432
        Accounts payable                       60,750       70,358     10,308
        Other payables                         57,238        8,953      1,312
        Accrued liabilities                    40,472       42,053      6,161
        Deposits received                       1,310        1,310        192
        Deferred revenues                      16,370       47,986      7,030
        Due to related parties                  5,118           --         --
        Taxation payable                       15,016       14,421      2,113
        Convertible notes                     233,716      139,604     20,452
        Embedded derivatives liabilities       63,096       20,698      3,032
        Assets retirement obligation            4,013        5,212        764
          TOTAL CURRENT LIABILITIES         1,381,807    1,275,026    186,795
     LONG-TERM LIABILITIES
        Shareholders loans                      6,732        6,732        986
        Warrants liabilities                  148,921       76,637     11,228
        Deferred tax liabilities              175,281      175,435     25,702
          TOTAL NON-CURRENT LIABILITIES       330,934      258,804     37,916
          TOTAL LIABILITIES                 1,712,741    1,533,830    224,711

    SHAREHOLDERS' EQUITY
     XING equity
        Common stock, par value RMB0.008
         (equivalent of US$0.001);
         authorised 200,000,000 shares as
         of December 31, 2009 and March
         31, 2010; outstanding and fully
         paid - 82,327,993 shares as of
         December 31, 2009 and
         90,294,134 shares as of March
         31, 2010                                602           657         96
        Additional paid-in capital         2,404,998     2,528,186    370,387
        Cumulative translation
         adjustments                        (160,352)      869,713    127,416
        Retained earnings                    796,736      (160,236)   (23,475)
           TOTAL XING EQUITY               3,041,984     3,238,321    474,424
     NONCONTROLLING INTEREST               1,156,086     1,152,843    168,895
           TOTAL EQUITY                    4,198,070     4,391,163    643,318
     TOTAL LIABILITIES & SHAREHOLDERS'
      EQUITY                               5,910,631     5,924,993    868,029

About Qiao Xing Universal Resources, Inc.

Qiao Xing Universal Resources, Inc. is an emerging Chinese resources company headquartered in Huizhou, Guangdong Province, China. The Company was previously one of the leading players of telecommunication terminal products in China, but made the strategic decision to diversify into the resources industry in 2007. In April 2009, the Company acquired the 100% equity interest in China Luxuriance Jade Company, Ltd (“CLJC”). CLJC, through its wholly owned Chinese subsidiaries, owns the rights to receive the expected residual returns from Chifeng Haozhou Mining Co., Ltd. (“Haozhou Mining”), a large copper- molybdenum poly-metallic mining company in Inner Mongolia, China. Since then, the Company has further refined its strategy to become a pure resources company and is actively seeking additional acquisition targets in the resources industry.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties. These include statements about our expectations, plans, objectives, assumptions or future events. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “estimate,” “plans,” “potential,” “projects,” “continuing,” “ongoing,” “expects,” “management believes,” “we believe,” “we intend” and similar expressions. These statements involve estimates, assumptions and uncertainties that could cause actual results to differ materially from those expressed. You should not place undue reliance on these forward-looking statements.

Forward-looking statements include all statements other than statements of historical facts, such as statements regarding anticipated mining production volumes, unit net costs of mining production, mining sales volumes, ore grades, molybdenum and other commodity prices, mine development and capital expenditures, mine production and development plans, availability of power, water, labor and equipment, environmental reclamation and closure costs and plans, environmental liabilities and expenditures, litigation liabilities and expenses, dividend payments, estimates of proven and probable reserves and other mineralized material, political, economic and social conditions in the areas of the Company’s operations and exploration efforts and results. Readers are cautioned that forward-looking statements are not guarantees of future performance and actual results may differ materially from those projected, anticipated or assumed in the forward-looking statements. Important factors that could cause the Company’s actual results to differ materially from those anticipated in the 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. Information regarding these factors is included in our filings with the Securities and Exchange Commission. Qiao Xing Universal Resources, Inc. 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 August 23, 2010.

Golden Minerals (AUMN) Announces a Significant Increase in the El Quevar Project Resource Estimate

GOLDEN, CO–(Marketwire – 08/19/10) – Golden Minerals Company (AMEX:AUMN – News) (TSX:AUM – News) (“Golden Minerals” or “the Company”) is pleased to provide an updated resource estimate for the Yaxtché deposit of its 100% controlled El Quevar project located in the Salta Province of northwestern Argentina. The new resource estimate shows an increase of 42% from the January 2010 resource estimate. The new resource estimate is based on a Canadian National Instrument 43-101 (“NI 43-101”) compliant technical report prepared by Micon International Limited (“Micon”) dated August 10, 2010.

Presented in the table below is the current resource estimate for the Yaxtché deposit at the El Quevar Project, at a 100 gram per tonne silver cut-off grade:

 
           ==========================================================
                                      Avg. Silver
           Category       Tonnage     Grade (g/t)      Silver Ounces
           ----------------------------------------------------------
           Indicated      902,000         310             8,991,000
           ----------------------------------------------------------
           Inferred      4,768,000        336            51,514,000
           ==========================================================

This latest estimate is an update to the previous report issued by Chlumsky, Armbrust and Meyer (“CAM”) in a NI 43-101 Technical Report dated January 2010. The major differences in the two estimates include the use in the Micon estimate of data from 12 drill holes that was not available when the CAM estimate was prepared and the geostatistical method by which the resource was estimated. In addition, the Micon resource estimate assumes a three meter minimum mining width, which results in a partially diluted resource grade, while the CAM resource estimate used the entire mineralized envelope and did not assume a minimum mining width. The Micon resource estimate also capped the grade at 3,000 grams per tonne of silver for the entire deposit. The CAM resource estimate did not cap the grade. This capping technique tends to reduce the overall grade and contained ounces. In addition, the Micon resource estimate uses an updated specific gravity (density) value, which is higher than the density value used in the CAM estimate and has resulted in an increase in total tonnes and contained ounces of silver.

Over 245 diamond drill holes have been completed to date at the El Quevar project, including 185 holes drilled on the Yaxtché deposit. Micon used data from 168 drill holes (through Hole QVD-204) from the Yaxtché deposit in the new resource estimate. The Yaxtché deposit remains open along strike and both up and down dip.

Previous drilling established that mineralization extends under a post mineral cover on the western extension of the Yaxtché zone. Hole QVD-195, drilled through the post mineral cover, included approximately seven meters of greater than 1,000 grams silver per tonne. Preparations are now underway to drill on the west side of the post mineral cover in order to test the potential extension of the Yaxtché deposit through the post mineral cover. If the mineralized zone is established on the west side of the post mineral cover, the Yaxtché deposit could more than double in length from the current 2.4 kilometer strike length.

The Company controls mineral and surface rights to approximately 64,000 hectares at the El Quevar project. Drilling to date has primarily been focused on the Yaxtché deposit, which is one of at least13 targets in the El Quevar project area. An initial six hole drill program was previously completed at the Quevar Norte target located approximately three kilometers north of the Yaxtché zone, with three of the six holes intersecting silver mineralization of greater than 100 grams per tonne, including Hole QND-002, which averaged 1,289 grams per tonne over an intercept of 28 meters.

Construction of the underground decline at the Yaxtché deposit has advanced approximately 85 of the 225 meters required to access ore and remains on schedule, with completion of the feasibility study anticipated at the end of 2010. The production sized decline will be used to confirm the mine model and mining methods, take bulk samples for metallurgical testing, and to support the feasibility study currently underway.

A drill hole location map and listing of all drill intercepts for the holes at El Quevar for which the Company has received and verified results are available at http://www.goldenminerals.com/.

Review by Qualified Person, Quality Control and Reports

The new resource estimation was performed by William J. Lewis, BSc., P.Geo, and Ing. Alan J. San Martin, MAusIMM, Qualified Persons as defined by NI 43-101, who are independent of Golden Minerals. The mineral resources in this estimate were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), Standards on Mineral Resources and Reserves, Definitions and Guidelines, prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council on December 11, 2005.

Results of the Company’s drilling program have been reviewed, verified, and compiled under the direction of the Company’s Senior Vice President of Exploration, Robert Blakestad, M.Sc., P.Geo, L.P.G., a Qualified Person for the purpose of NI 43-101. Mr. Blakestad has over 35 years of mineral exploration experience, is a Professional Geoscientist registered in Nova Scotia and a Licensed Professional Geologist in the state of Washington.

To ensure reliable sample results, Golden Minerals uses a quality assurance/quality control program that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. Core is photographed and sawn in half with one half retained in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at an independent ISO 9001:2001 certified laboratory in Mendoza, Argentina. Prepared samples are direct-shipped to ISO 9001:2001 certified laboratories in Santiago, Chile or Vancouver, B.C. Pulp splits of mineralized intervals are re-assayed at certified independent referee laboratories in Chile and Canada.

The independent NI 43-101 technical reports and related information are available on the Company’s website, http://www.goldenminerals.com/.

About Golden Minerals

Golden Minerals is a Delaware corporation based in Golden, Colorado, primarily engaged in the advancement of its pipeline of exploration projects in Mexico and South America. The Company has a portfolio of 30 exploration projects, including the feasibility stage El Quevar project in the Salta Province of northwestern Argentina and advanced stage drilling projects in Mexico and Peru. The Company’s experienced management team has proven in house ability to explore, develop and operate mining projects.

Cautionary Note to U.S. Investors concerning Estimates of Indicated and Inferred Resources: This press release uses the terms “indicated resources” and “inferred resources” which are defined in, and required to be disclosed by, NI 43-101. We advise U.S. investors that these terms are not recognized by the United States Securities and Exchange Commission (the “SEC”). The estimation of indicated resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that indicated mineral resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations, however the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar information made public by U.S. companies that are not subject NI 43-101.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including statements regarding indicated and inferred resource estimates at the El Quevar project; the exploration results and programs at the El Quevar project; results of exploration activities; planned exploration activities; planned feasibility work, the schedule for the construction of the underground decline at the Yaxtché deposit and completion of the planned feasibility study, and planned uses of the underground decline. These statements are subject to risks and uncertainties, including results of exploration and whether the results support engineering and other feasibility work on El Quevar; changes in geological, geostatistical and other interpretations of the Yaxtché deposit including the interpretations regarding the westward extension, continuity and strike length of the Yaxtché deposit, which may include changes resulting from additional drilling, exploration and feasibility work; availability of drills; unexpected variations in ore grade, types and metallurgy; whether the resources reported will be converted to reserves and whether the resources reported, including information regarding contained ounces, will be reduced as additional exploration and feasibility work is completed, including feasibility work on processing alternatives, projected recovery rates and costs including capital costs, operating costs and taxes; results of El Quevar feasibility work and uncertainties regarding whether El Quevar project feasibility will be supported; financial market conditions; unexpected increases in costs of materials, supplies and personnel used in exploration or mining activities; fluctuations in silver and other metal prices; technical and permitting issues; changes in applicable law that might increase the cost or otherwise negatively affect the Company in advancing the El Quevar project; and the ability and success of the Company in raising adequate capital and implementing its plans. Golden Minerals Company assumes no obligation to update this information. Additional risks relating to Golden Minerals Company may be found in the periodic and current reports filed with the Securities Exchange Commission by Golden Minerals Company, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2009.

For additional information please visit http://www.goldenminerals.com/

QlikTech (QLIK) Announces Second Quarter 2010 Financial Results

RADNOR, Pa.–(BUSINESS WIRE)–Qlik Technologies Inc. (“QlikTech”) (NASDAQ:QLIK – News), a provider of business intelligence software, today announced financial results for the three month period ended June 30, 2010.

Lars Björk, chief executive officer of QlikTech, stated, “We are pleased with QlikTech’s business momentum during the second quarter, which was highlighted by revenue growth of 56% compared to the second quarter of 2009. We saw strong demand across each of our major global regions, and business was well balanced across both new and existing customers as we executed against our land and expand strategy. This performance also contributed to a strong increase in our company’s operating profitability and margin.”

Björk added, “We are excited to have completed our company’s initial public offering, which marked a major milestone in QlikTech’s history. We believe our expanded resources and market awareness will further enhance our ability to realize the company’s long-term potential. QlikTech is redefining the business intelligence market, and creating a market opportunity with QlikView that we believe is much larger than that served by traditional BI vendors. Our ability to meet a previously unmet need in the market place is the result of the disruptive benefits of our product offering, which is faster to deploy, much easier to use, lower cost, and ultimately helps customers gain real-time insights into their critical business data that is not possible with alternative solutions.”

Financial Highlights for the Second Quarter Ended June 30, 2010

Total revenue for the second quarter of 2010 was $51.1 million, an increase of 56% from $32.8 million in the second quarter of 2009. License revenue was $32.5 million, an increase of 62% from $20.0 million in the second quarter of 2009. Maintenance revenue was $13.5 million, an increase of 43% from $9.5 million in the second quarter of 2009. Professional services revenue was $5.1 million, an increase of 53% from $3.3 million in the second quarter of 2009.

GAAP operating income for the second quarter of 2010 was $5.8 million, or 11.4% of revenue, an increase compared to a GAAP operating loss of ($2.7 million) for the second quarter of 2009. GAAP net income was $3.5 million, or $0.02 per common share on a diluted basis, an increase compared to a GAAP net loss of ($2.7 million), or ($0.17) per common share on a diluted basis, in the second quarter of 2009. GAAP net income (loss) includes a charge for the change in the fair value of warrants of $1.4 million for the second quarter of 2010 and $0.1 million for the second quarter of 2009. Beginning in the third quarter of 2010, QlikTech will no longer incur these charges due to the conversion of these preferred stock warrants to common stock warrants upon the effectiveness of its initial public offering.

Non-GAAP operating income, which excludes stock-based compensation, was $6.4 million, or 12.5% of revenue, for the second quarter of 2010, compared to a non-GAAP operating loss of ($2.3 million) for the second quarter of 2009. Non-GAAP net income was $3.9 million for the second quarter of 2010, compared to a non-GAAP net loss of ($2.3 million) for the second quarter of 2009. After accounting for the automatic conversion of QlikTech’s then outstanding shares of convertible preferred stock into 46.7 million shares of common stock and the issuance of 12.9 million shares of common stock as though the completion of the company’s initial public offering had occurred at the beginning of the period, non-GAAP income per common share on a diluted basis for the second quarter of 2010 was $0.05, compared to a non-GAAP loss per common share of ($0.03) on a diluted basis for the second quarter of 2009. Non-GAAP net income (loss) includes a charge for a change in the fair value of warrants of $1.4 million for the second quarter of 2010 and $0.1 million for the second quarter of 2009. Beginning in the third quarter of 2010, QlikTech will no longer incur these charges due to the conversion of these preferred stock warrants to common stock warrants upon the effectiveness of its initial public offering.

The tables at the end of this press release include a reconciliation of GAAP to non-GAAP income from operations and net income for the three and six months ended June 30, 2009 and 2010. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

Cash and cash equivalents were $35.8 million on June 30, 2010, compared to $37.4 million on March 31, 2010. The cash balance on June 30, 2010 does not include approximately $120 million in net proceeds that were raised through the company’s initial public offering, which was completed on July 21, 2010.

Other Second Quarter and Recent Business Highlights:

• Added over 1,400 new customers during the quarter to bring total customer count to over 15,000, up from over 11,000 customers at the end of the second quarter of 2009.
• Revenue in the Americas was $15.8 million, up 84% over the prior year period and representing 31% of total revenue. European countries generated $31.9 million in revenue, up 46% over the prior year period and representing 62% of total revenue. Rest of World revenue was $3.4 million, up 45% over the prior year period and representing 7% of total revenue.
• Launched QlikView Labs to capture ideas and focus research initiatives in a creative “sandbox” environment. QlikView Labs allows internal, partner and customer developers to prototype ideas as the preliminary phase of our product development process. In this environment, QlikTech will leverage both a hands-on development center and its virtual community organized through Qlik Community.
• Announced the immediate availability of QlikView for iPad. This mobile, interactive enterprise business intelligence solution provides mobile professionals access to decision-critical information through Apple iPads’s native multi-touch interface. QlikView for iPad takes mobile business intelligence to a new level of touch-based interactivity, enabling freeform exploration of business data without the limits of static reporting.

Business Outlook

Based on information available as of August 19, 2010, QlikTech is issuing guidance for the third quarter and full year 2010 as follows:

Third Quarter 2010: The company expects total revenue for the third quarter to be in the range of $44.0 million to $47.0 million, non-GAAP operating income to be in the range of $4.0 million to $4.5 million and non-GAAP net income per diluted share to be in the range of $0.02 to $0.03. QlikTech’s expectations of non-GAAP net income per diluted share for the third quarter exclude stock-based compensation expense and assume a tax rate of 28% and weighted average shares outstanding of approximately 86 million.

Full Year 2010: The company expects 2010 total revenue to be in the range of $204.0 million to $207.0 million, non-GAAP operating income to be in the range of $29.0 million to $31.0 million and non-GAAP net income per diluted share to be in the range of $0.21 to $0.23. QlikTech’s expectations of non-GAAP net income per diluted share for the full year exclude stock-based compensation expense and assume a tax rate of 28% and weighted average shares outstanding of approximately 85 million.

Conference Call and Webcast Information

QlikTech will host a conference call on August 19, 2010, at 8:00 a.m. Eastern Time (ET) to discuss the company’s second quarter financial results and its business outlook. To access this call, dial 877-312-5507 (domestic) or 253-237-1134 (international). A replay of this conference call will be available until August 26, 2010 at 800-642-1687 (domestic) or 706-645-9291 (international). The replay pass code is 93016312. A live web cast of this conference call will also be available under the “Events & Presentations” section on the company’s investor relations website at http://investor.qlikview.com/, and a replay will be archived on the website as well.

Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with generally accepted accounting principles, or GAAP, QlikTech uses measures of non-GAAP operating income, non-GAAP net income and non-GAAP income or loss per share. A reconciliation of these non-GAAP financial measures to the closest GAAP financial measure, is presented in the financial tables below under the heading “Reconciliation of Non-GAAP Measures to GAAP” QlikTech believes that the non-GAAP financial information provided in this release can assist investors in understanding and assessing QlikTech’s on-going core operations and prospects for the future and provides an additional tool for investors to use in comparing QlikTech’s financial results with other companies in QlikTech’s industry, many of which present similar non-GAAP financial measures to investors.

Non-GAAP operating income (loss) is determined by taking income or loss from operations and adding back non-cash stock-based compensation expense. Non-GAAP net income (loss) is determined by taking pretax income or loss and adding back non-cash stock-based compensation expense, and the result is tax affected at an estimated 28% tax rate. QlikTech believes this adjustment provides useful information to both management and investors. Non-GAAP income or loss per share is determined by taking Non-GAAP net income and adjusting the weighted average outstanding common share calculations for the automatic conversion of the convertible preferred stock and issuance of common stock in connection with the company’s initial public offering as if the offering had occurred at the beginning of each respective period.

This press release includes forward-looking non-GAAP financial measures under the heading “Business Outlook”. These non-GAAP financial measures include adjustments as discussed above. We are unable to reconcile this non-GAAP guidance to GAAP because it is difficult to predict the future impact of these adjustments.

The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant elements that are required by GAAP to be recorded in QlikTech’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management in determining these non-GAAP financial measures. In order to compensate for these limitations, management of QlikTech presents its non-GAAP financial measures in connection with its GAAP results. Investors are encouraged to review the reconciliation of our non-GAAP financial measures to their most directly comparable GAAP financial measure. As previously mentioned, a reconciliation of our historic non-GAAP financial measures to their most directly comparable GAAP measures has been provided below.

About QlikTech

QlikTech’s powerful, accessible business intelligence solution enables organizations to make better and faster decisions. Its QlikView product delivers enterprise-class analytics and search with the simplicity and ease of use of office productivity software. The in-memory associative search technology it pioneered makes calculations in real-time enabling business professionals to gain insight through intuitive data exploration. Unlike traditional business intelligence products, QlikView can deliver value in days or weeks rather than months, years, or not at all. It can be deployed on premise, in the cloud, or on a laptop or mobile device—from a single user to large global enterprises. QlikTech is headquartered in Radnor, Pennsylvania, with offices around the world and a network of over 1,100 partners to serve more than 15,000 customers in over 100 countries worldwide.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements, including, but not limited to, statements regarding the value and effectiveness of QlikTech’s products, the introduction of product enhancements or additional products and QlikTech’s growth, expansion and market leadership, that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause QlikTech’s results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words “plan,” “expects,” “anticipates,” “believes,” “goal,” “estimate,” “potential,” “may”, “will,” “might,” “could,” and similar words. QlikTech intends all such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in such statements due to various factors, including but not limited to: risks and uncertainties inherent in our business; our ability to attract new customers and retain existing customers; our ability to effectively sell, service and support our products; our ability to manage our international operations; our ability to compete effectively; our ability to develop and introduce new products and add-ons or enhancements to existing products; our ability to continue to promote and maintain our brand in a cost-effective manner; our ability to manage growth; our ability to attract and retain key personnel; the scope and validity of intellectual property rights applicable to our products; adverse economic conditions in general and adverse economic conditions specifically affecting the markets in which we operate; and other risks more fully described in QlikTech’s publicly available filings with the Securities and Exchange Commission. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent QlikTech’s views as of the date of this press release. QlikTech anticipates that subsequent events and developments will cause its views to change. QlikTech undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing QlikTech’s views as of any date subsequent to the date of this press release.

Qlik and QlikView are trademarks or registered trademarks of QlikTech or its subsidiaries in the U.S. and other countries. iPad is a trademark of Apple, Inc. in the U.S. and other countries around the world.

Casual Male Retail Group, Inc. (CMRG) Reports Second Quarter Results

CANTON, Mass., Aug. 19 /PRNewswire-FirstCall/ — Casual Male Retail Group, Inc. (Nasdaq:CMRG – News), the largest retailer of big & tall men’s apparel and accessories, today reported operating results for the second quarter and six month period ended July 31, 2010.

Second Quarter Highlights (2010 vs. 2009)

• Net income increased 56% to $5.6 million, or $0.12 per diluted share, from $3.6 million, or $0.09 per diluted share
• Comparable sales  increased  0.8% and total sales decreased 1.0% to $97.3 million
• Gross margin increased 180 basis points to 46.4%

Six Month Highlights (2010 vs. 2009)

• Net income increased 145% to $9.8 million, or $0.21 per diluted share, from a net income of $4.0 million, or $0.10 per diluted share
• Comparable sales increased 0.1% and total sales decreased 1.8% to $192.2 million
• Gross margin increased 250 basis points to 46.1%

David Levin, President and CEO, stated, “We are pleased with our results for the second quarter and continuing progress toward our immediate initiatives to expand operating margin and drive free cash flow. In the quarter, strong inventory control as well as lower occupancy and merchandise costs combined to drive a 180 basis point improvement in gross margin. At the same time, we continued to see a slow but steady improvement in sales – as comparable sales trends flattened in the quarter.”

Levin continued, “We are very excited about the opening of our first three DXL stores and the early customer feedback. While only opened for a few weeks and with no marketing events, these stores appear to be attracting a diverse target customer from a wide geographic area. In addition, higher average transaction values suggest customers like what they see and are cross-shopping the store as we intended.”

Sales

For the second quarter of fiscal 2010, comparable sales increased 0.8% while total sales declined 1.0% to $97.3 million as compared to the prior year’s second quarter. During the second quarter of fiscal 2010, comparable sales for our Casual Male XL business increased 0.3% to last year while comparable sales from our Rochester business decreased by 2.2%. Sales across our direct businesses increased by 5.2% while comparable sales from the Company’s retail stores decreased 0.2% for the second quarter of fiscal 2010 as compared to the prior year’s second quarter.

For the first six months of fiscal 2010, comparable sales increased 0.1% while total sales declined 1.8% to $192.2 million as compared to the prior year’s first six months.  For the first six months of fiscal 2010, comparable sales from our Rochester business increased 1.2% while comparable sales from our Casual Male XL business decreased 1.0%.  Sales from our direct businesses increased by 2.9% while sales from the Company’s retail stores dropped by 0.6% for the first six months of fiscal 2010 as compared to the first six months of the prior year.

Gross Profit Margin

For the second quarter of fiscal 2010, gross margin increased 180 basis points to 46.4%.  The increase was the result of a 100 basis point improvement in merchandise margin and an 80 basis point improvement in occupancy costs.  For the first six months of fiscal 2010, gross margin increased 250 basis points to 46.1%.  The increase was the result of a 190 basis point improvement in merchandise margin and a 60 basis point improvement in occupancy costs.

SG&A

On a dollar basis, SG&A expenses were relatively flat for the second quarter of fiscal 2010 as compared to last year’s second quarter. As a percentage of sales, SG&A expenses for the second quarter of fiscal 2010 were 36.4% of sales as compared to 36.1% of sales in the second quarter of fiscal 2009.

For the first six months of fiscal 2010, on a dollar basis, SG&A expenses decreased 2.2% as compared to the first six months of fiscal 2009.  As a percentage of sales, SG&A expenses for the first six months were 37.0% of sales as compared to 37.1% of sales for the first six months of fiscal 2009.

During the first six months of fiscal 2010, we continued to benefit from the cost reductions that we took during fiscal 2009.  Approximately two-thirds of the savings were the result of store payroll reductions and store operating efficiencies with the remaining cost savings resulting from reduced marketing costs.

Interest Expense

Net interest expense for the second quarter of fiscal 2010 decreased by $0.1 million to $0.2 million from $0.3 million in the prior year.  For the first six months of fiscal 2010, net interest expense decreased by $0.3 million to $0.3 million from $0.6 million for the first six months of the prior year.  This decrease was primarily the result of a decrease in total indebtedness over the prior year.

Cash Flow

Free cash flow from operations improved by $3.1 million to $9.0 million for the first six months of fiscal 2010 as compared to $5.9 million for the first six months of fiscal 2009.

Balance Sheet & Liquidity

Total debt decreased 88.8%, or $40.8 million, to $5.1 million at the end of the second quarter of fiscal 2010 from $45.9 million at the end of the second quarter of fiscal 2009. At July 31, 2010, the Company had $64.9 million available under its credit line facility.

Inventory levels of $94.2 million at the end of the second quarter of fiscal 2010 are flat to the $94.3 million at the end of the second quarter of fiscal 2009.

Destination XL

During the second quarter of fiscal 2010, the Company opened its first Destination XL™ store in Schaumburg, Illinois. Subsequent to the end of the second quarter, the Company opened two additional Destination XL stores in Memphis, Tennessee on August 5, 2010 and in Las Vegas, Nevada on August 14, 2010.   The Company plans to open one additional Destination XL store during fiscal 2010 in Houston, Texas by the middle of the third quarter.

Updated Fiscal 2010 Outlook

Based on the Company’s performance during the first six months of fiscal 2010, the Company has revised its earnings guidance to $0.29-$0.32 per diluted share.  As of August 19, 2010, the Company is projecting the following for the fiscal year ending January 29, 2011:

• Comparable sales flat to +1% with total sales of $390 – $395 million (slightly up from a low of $385 million)
• Gross profit margin of 45.3% to 45.6% (previous range 44.9% to 45.4%)
• SG&A expenses to decline by approximately 2.0% (unchanged)
• Diluted earnings per share of $0.29 – $0.32 (previous range $0.26-$0.29)
• On a quarterly basis, expect to see improvements in earnings in the third and fourth quarters of fiscal 2010, consistent with the expected 2010 annual improvement to 2009
• Free cash flow of approximately $24 million, which is based on operating cash flow of approximately $34 million less capital expenditures of approximately $10 million (previous estimate of free cash flow was $20 million)
• The company’s cash balances at the end of the year are expected to approximate between $15-$20 million

Non-GAAP Measures

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), the above discussion also refers to non-GAAP free cash flow of $9.0 million and $5.9 million for the six months ended July 31, 2010 and August 1, 2009, respectively, and estimated non-GAAP free cash flow of $24.0 million for fiscal 2010.  The presentation of non-GAAP free cash flow is not a measure determined by GAAP and should not be considered superior to or as a substitute for net income or cash flows from operating activities or any other measure of performance derived in accordance with GAAP. In addition, all companies do not calculate non-GAAP financial measures in the same manner and, accordingly, “free cash flows” presented in this release may not be comparable to similar measures used by other companies. The Company calculates free cash flows as cash flow from operating activities less capital expenditures and less discretionary store asset acquisitions.

Investors are invited to listen to a broadcast of the Company’s conference call to discuss its earnings results for the second quarter and first six months of fiscal 2010.  The conference call will be broadcast live today, Thursday, August 19, 2010 at 9:00 a.m. Eastern Daylight Time and can be accessed at www.casualmalexl.com and then clicking on the investor relations icon.  The call will be archived online within one hour after its completion.  Participating in the call will be David Levin, President and Chief Executive Officer, and Dennis Hernreich, Executive Vice President, Chief Operating Officer and Chief Financial Officer.

During the conference call, the Company may discuss and answer questions concerning business and financial developments and trends.  The Company’s responses to questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been disclosed previously.

Casual Male Retail Group, Inc., the largest retailer of big and tall men’s apparel with operations throughout the United States, Canada and Europe, operates 451 Casual Male XL retail and outlet stores, 3 Destination XL stores, 18 Rochester Clothing stores, and direct to consumer businesses which include several catalogs and e-commerce sites. The Company is headquartered in Canton, Massachusetts, and its common stock is listed on the NASDAQ Global Market under the symbol “CMRG.”

Certain information contained in this press release, including the Company’s expectations regarding fiscal 2010, constitutes forward-looking statements under the federal securities laws. The discussion of forward-looking information requires management of the Company to make certain estimates and assumptions regarding the Company’s strategic direction and the effect of such plans on the Company’s financial results. The Company’s actual results and the implementation of its plans and operations may differ materially from forward-looking statements made by the Company. The Company encourages readers of forward-looking information concerning the Company to refer to its prior filings with the Securities and Exchange Commission, including without limitation, its Annual Report on Form 10-K filed on March 19, 2010, that set forth certain risks and uncertainties that may have an impact on future results and direction of the Company.

Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The Company undertakes no obligation and expressly disclaims any duty to update such statements.

ShopNBC (VVTV) Q2 Net Sales Rise 6% to $126.2 Million and Adjusted EBITDA Loss Reduced

ShopNBC (NASDAQ:VVTV – News), the premium lifestyle brand in multi-media retailing, today announced improved financial results for its fiscal second quarter ended July 31, 2010. The company will host a conference call to review its results today at 11:00 a.m. ET; details below.

 
SUMMARY RESULTS AND KEY OPERATING METRICS
($ Millions, except average price points)

                            Q2                            YTD
               For the three months ending     For the six months ending
              -----------------------------  -----------------------------
              7/31/2010  8/1/2009   Change   7/31/2010  8/1/2009   Change
              ---------  ---------  -------  ---------  ---------  -------
Net Sales     $   126.2  $   119.3      5.7% $   251.2  $   253.1     -0.8%
EBITDA        $    (1.9) $    (5.7)    66.1% $    (6.2) $   (12.5)    50.2%
as adjusted
Net Loss      $    (7.7) $    (8.2)     6.6% $   (18.7) $   (20.2)     7.8%

Homes            75,571     73,410      2.9%    75,715     73,183      3.5%
(Average 000s)
Net Shipped       1,195        980     21.9%     2,273      1,857     22.4%
 Units (000s)
Average Price $      97  $     112    -13.2% $     103  $     127    -19.2%

Return Rate %      20.6%      21.8% -120bps       19.9%      21.7% -180bps
Gross Margin %     37.4%      34.8% 260 bps       37.0%      33.1% 390 bps
Internet Net       39.4%      30.8% 860 bps       39.5%      30.4% 910 bps
Sales %
New Customers   573,545    411,029     39.5%       N/A        N/A
 12 month
 rolling
Active
 Customers    1,089,682    861,080     26.5%       N/A        N/A
 12 month
 rolling

“We are pleased with our second quarter progress, reflecting another consecutive quarter of overall improved performance,” said Keith Stewart, CEO of ShopNBC. “Positive customer activity trends and strong gross margin rates, along with disciplined execution in merchandising and financial planning, helped drive the business on the top- and bottom-line. Going forward, we recognize there is still much work to be done. We continue to prudently manage our working capital while focusing on increasing the top line through improved merchandising strategies, aligning price points with consumer demand, and refining our customer outreach initiatives during the second half of the year.”

Second Quarter 2010 Results

Second quarter revenues rose 5.7% to $126.2 million vs. Q2 of last year. As part of its on-going strategic initiatives, the company further lowered its net average selling price to $97 from $112 in the year-ago quarter, while increasing net shipped units by 22%. E-commerce sales penetration represented 39.4% of total company sales in the quarter, up 860 basis points from the prior-year period.

Customer trends continued to improve with new and active customers increasing 39.5% and 26.5%, respectively, on a 12-month rolling basis vs. same period last year. Return rates for the quarter declined to 20.6% vs. 21.8% in the year-ago quarter, reflecting improvements in overall customer satisfaction and the benefit of strategic pricing changes.

Gross profit increased 13% to $47.2 million and gross profit margin improved 260 basis points to 37.4% vs. 34.8% last year, largely driven by merchandise margin rate improvements across several key categories.

Adjusted EBITDA was a loss of ($1.9) million compared to an Adjusted EBITDA loss of ($5.7) million in the year-ago period, driven by improvements in sales and gross margin.

Operating expenses in the second quarter increased approximately 2% to $53.4 million, as a result of the company’s net sales growth.

Net loss for the second quarter declined to ($7.7) million compared to a net loss of ($8.2) million for the same quarter last year.

Liquidity and Capital Resources

Second quarter cash and cash equivalents balance ended at $22.9 million, including $5.0 million of restricted cash. The cash and cash equivalents balance declined $3.0 million from Q1 driven by increased capital expenditures to support the company’s sales growth. On a year-to-date basis, cash and cash equivalents has increased by $0.9 million. Additionally, the company currently has up to $20 million available to it under a 3-year revolving credit facility, of which $12 million of such availability is subject to meeting certain future financial objectives to finance working capital investment and fund other company growth initiatives. To date, the company has no outstanding borrowings on the facility.

Management Update

The company recently announced the appointment of Mr. William J. McGrath as Senior Vice President and Chief Financial Officer of ShopNBC. Mr. McGrath has over 20 years of multi-channel industry expertise as well as global operations and financial leadership experience. Prior to joining ShopNBC, Mr. McGrath served as Vice President Global Sourcing Operations and Finance at QVC.

In addition, the company today announced that Ms. Kris Kulesza, Senior Vice President of Merchandising, is leaving the company effective August 20 to pursue other interests. The company currently does not plan to fill this position, and instead will spread the responsibilities across its current team of seasoned multi-channel executives.

The company also recently appointed multi-channel retailing veterans Stephanie Juaire as Director of Consumer Electronics, and Tom Long as Director of Quality Assurance in the second quarter. Ms. Juaire brings 14 years of consumer electronics experience to the company, previously having held merchandising and business development roles at Imation, ShopKo, Circuit City, and Best Buy. Mr. Long brings 25 years of industry experience to ShopNBC, having held a variety of distribution and manufacturing leadership roles at QVC, Bentley-Harrison Manufacturing, and Kiwi Brands.

Conference Call Information

To participate in the conference call at 11:00 a.m. ET, please dial 1-800-369-2063 (pass code: 7467622; keypad: SHOPNBC) five to ten minutes prior to the call time. If you are unable to participate live in the conference call, a replay will be available for 30 days. To access the replay, please dial 1-800-294-7483 with pass code 81810.

You also may participate via live audio stream by logging on to https://e-meetings.verizonbusiness.com. To access the audio stream, please use conference number 3811097 with pass code: SHOPNBC. A rebroadcast of the audio stream will be available using the same access information for 30 days after the initial broadcast.

About ShopNBC

ShopNBC is a multi-media retailer operating with a premium lifestyle brand. Over 1 million customers benefit from ShopNBC as an authority and destination in the categories of home, electronics, beauty, health, fitness, fashion, jewelry and watches. As part of the company’s “ShopNBC Anywhere” initiative, customers can interact and shop via cable and satellite TV in 76 million homes (DISH Network channels 134 and 228; DIRECTV channel 316); mobile devices including iPhone, BlackBerry and Droid; online at www.ShopNBC.com live streaming at www.ShopNBC.TV and social networking sites Facebook, Twitter and YouTube. ShopNBC is owned and operated by ValueVision Media (NASDAQ:VVTV – News). For more information, please visit www.ShopNBC.com/IR.

EBITDA and EBITDA, as adjusted

EBITDA represents net loss for the respective periods excluding depreciation and amortization expense, interest income (expense) and income taxes. The company defines Adjusted EBITDA as EBITDA excluding non-operating gains (losses); non-cash impairment charges and write-downs; restructuring and chief executive officer transition costs; and non-cash share-based compensation expense. The company has included the term “Adjusted EBITDA” in our EBITDA reconciliation in order to adequately assess the operating performance of our “core” television and internet businesses and in order to maintain comparability to our analyst’s coverage and financial guidance, when given. Management believes that Adjusted EBITDA allows investors to make a more meaningful comparison between our core business operating results over different periods of time with those of other similar companies. In addition, management uses Adjusted EBITDA as a metric measure to evaluate operating performance under its management and executive incentive compensation programs. Adjusted EBITDA should not be construed as an alternative to operating income (loss) or to cash flows from operating activities as determined in accordance with generally accepted accounting principles and should not be construed as a measure of liquidity. Adjusted EBITDA may not be comparable to similarly entitled measures reported by other companies.

Forward-Looking Information

This release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and accordingly are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein due to various important factors, including (but not limited to): consumer spending and debt levels; interest rates; competitive pressures on sales, pricing and gross profit margins; the level of cable and satellite distribution for the company’s programming and the fees associated therewith; the success of the company’s e-commerce and new sales initiatives; the success of its strategic alliances and relationships; the ability of the company to manage its operating expenses successfully; the ability of the Company to establish and maintain acceptable commercial terms with third party vendors and other third parties with whom the Company has contractual relationships; changes in governmental or regulatory requirements; litigation or governmental proceedings affecting the company’s operations; and the ability of the company to obtain and retain key executives and employees. More detailed information about those factors is set forth in the company’s filings with the Securities and Exchange Commission, including the company’s annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. The company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

 
                          VALUEVISION MEDIA, INC.
                             AND SUBSIDIARIES
                       CONSOLIDATED BALANCE SHEETS
              (In thousands except share and per share data)

                                                   July 31,    January 30,
                                                     2010         2010
                                                  -----------  -----------
                                                  (Unaudited)

                             ASSETS
Current assets:
   Cash and cash equivalents                      $    17,952  $    17,000
   Restricted cash and investments                      4,961        5,060
   Accounts receivable, net                            52,382       68,891
   Inventories                                         47,156       44,077
   Prepaid expenses and other                           4,545        4,333
                                                  -----------  -----------
     Total current assets                             126,996      139,361
Property and equipment, net                            27,443       28,342
FCC broadcasting license                               23,111       23,111
NBC Trademark License Agreement, net                    2,541        4,154
Other Assets                                            1,262        1,246
                                                  -----------  -----------
                                                  $   181,353  $   196,214
                                                  ===========  ===========

           LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
   Accounts payable                               $    50,695  $    58,777
   Accrued liabilities                                 38,591       26,487
   Deferred revenue                                       728          728
                                                  -----------  -----------
     Total current liabilities                         90,014       85,992

Deferred revenue                                          789        1,153
Long Term Payable                                           -        4,841
Accrued Dividends - Series B Preferred Stock            7,454        4,681
Series B Mandatorily Redeemable Preferred Stock        11,954       11,243
   $.01 par value, 4,929,266 shares authorized;
    4,929,266 shares issued and outstanding
                                                  -----------  -----------
     Total liabilities                                110,211      107,910

Commitments and Contingencies

Shareholders' equity:
   Common stock, $.01 par value, 100,000,000
    shares authorized; 32,726,077 and 32,672,735
    shares issued and outstanding                         327          327
   Warrants to purchase 6,022,115 shares of
    common stock                                          637          637
   Additional paid-in capital                         318,223      316,721
   Accumulated deficit                               (248,045)    (229,381)
                                                  -----------  -----------
     Total shareholders' equity                        71,142       88,304
                                                  -----------  -----------
                                                  $   181,353  $   196,214
                                                  ===========  ===========

                          VALUEVISION MEDIA, INC.
                             AND SUBSIDIARIES
                  CONSOLIDATED STATEMENTS OF OPERATIONS
             (In thousands, except share and per share data)
                               (Unaudited)

                              For the Three Month     For the Six Month
                                 Periods Ended          Periods Ended
                            ----------------------  ----------------------

                             July 31,    August 1,   July 31,    August 1,
                               2010        2009        2010        2009
                            ----------  ----------  ----------  ----------
Net sales                   $  126,177  $  119,345  $  251,154  $  253,147
Cost of sales                   79,021      77,785     158,261     169,398
  (exclusive of depreciation
   and amortization shown
   below)
Operating expense:
  Distribution and selling      45,021      43,885      91,063      89,124
  General and
   administrative                4,795       4,309       9,562       8,936
  Depreciation and
   amortization                  3,527       3,427       7,218       7,216
  Restructuring costs               50         485         426         589
  CEO transition costs               -         223           -         300
                            ----------  ----------  ----------  ----------
    Total operating expense     53,393      52,329     108,269     106,165
                            ----------  ----------  ----------  ----------
Operating loss                  (6,237)    (10,769)    (15,376)    (22,416)
                            ----------  ----------  ----------  ----------
Other income (expense):
  Interest income                    9         146          51         363
  Interest expense              (2,095)     (1,235)     (3,945)     (1,978)
  Gain on sale of
   investments                       -       3,628           -       3,628
                            ----------  ----------  ----------  ----------
   Total other income
    (expense)                   (2,086)      2,539      (3,894)      2,013
                            ----------  ----------  ----------  ----------
Loss before income taxes        (8,323)     (8,230)    (19,270)    (20,403)
Income tax (provision)
 benefit                           630          (5)        606         157
                            ----------  ----------  ----------  ----------

Net loss                        (7,693)     (8,235)    (18,664)    (20,246)

Excess of preferred stock
 carrying value over
 redemption value                    -           -           -      27,362

Accretion of redeemable
 Series A preferred stock            -           -           -         (62)
                            ----------  ----------  ----------  ----------
Net income (loss) available
 to common shareholders     $   (7,693) $   (8,235) $  (18,664) $    7,054
                            ==========  ==========  ==========  ==========

Net income (loss) per
 common share               $    (0.24) $    (0.26) $    (0.57) $     0.22
                            ==========  ==========  ==========  ==========

Net income (loss) per
 common share
 ---assuming dilution       $    (0.24) $    (0.26) $    (0.57) $     0.21
                            ==========  ==========  ==========  ==========

Weighted average number of
 common shares outstanding:
     Basic                  32,703,164  32,272,841  32,691,334  32,688,289
                            ==========  ==========  ==========  ==========
     Diluted                32,703,164  32,272,841  32,691,334  33,391,279
                            ==========  ==========  ==========  ==========

                          VALUEVISION MEDIA, INC.
                             AND SUBSIDIARIES

            Reconciliation of EBITDA, as adjusted, to Net Loss:

                                 For the Three Month    For the Six Month
                                    Periods Ended         Periods Ended
                                --------------------  --------------------

                                July 31,   August 1,  July 31,   August 1,
                                  2010       2009       2010       2009
                                ---------  ---------  ---------  ---------

EBITDA, as adjusted (000's)     $  (1,943) $  (5,733) $  (6,234) $ (12,521)
Less:
     Non-operating gain on sale
      of investments                    -      3,628          -      3,628
     Restructuring costs              (50)      (485)      (426)      (589)
     CEO transition costs               -       (223)         -       (300)
     Non-cash share-based
      compensation                   (717)      (901)    (1,498)    (1,790)
                                ---------  ---------  ---------  ---------
EBITDA (as defined) (a)            (2,710)    (3,714)    (8,158)   (11,572)
                                ---------  ---------  ---------  ---------

A reconciliation of EBITDA to
 net loss is as follows:

EBITDA, as defined                 (2,710)    (3,714)    (8,158)   (11,572)
Adjustments:
Depreciation and amortization      (3,527)    (3,427)    (7,218)    (7,216)
Interest income                         9        146         51        363
Interest expense                   (2,095)    (1,235)    (3,945)    (1,978)
Income taxes                          630         (5)       606        157
                                ---------  ---------  ---------  ---------
     Net loss                   $  (7,693) $  (8,235) $ (18,664) $ (20,246)
                                =========  =========  =========  =========

(a) EBITDA as defined for this statistical presentation represents net income (loss) for the respective periods excluding depreciation and amortization expense, interest income (expense) and income taxes. The Company defines EBITDA, as adjusted, as EBITDA excluding non-operating gains (losses); non-cash impairment charges and writedowns, restructuring and CEO transition costs; and non-cash share-based compensation expense.

Management has included the term EBITDA, as adjusted, in its EBITDA reconciliation in order to adequately assess the operating performance of the Company’s “core” television and Internet businesses and in order to maintain comparability to its analyst’s coverage and financial guidance when given. Management believes that EBITDA, as adjusted, allows investors to make a more meaningful comparison between our core business operating results over different periods of time with those of other similar companies. In addition, management uses EBITDA, as adjusted, as a metric measure to evaluate operating performance under its management and executive incentive compensation programs. EBITDA, as adjusted, should not be construed as an alternative to operating income (loss) or to cash flows from operating activities as determined in accordance with GAAP and should not be construed as a measure of liquidity. EBITDA, as adjusted, may not be comparable to similarly entitled measures reported by other companies.

Patrick Industries, Inc. (PATK) Signs Definitive Agreement to Acquire Wiring and Electrical Products Distribution Business

ELKHART, Ind., Aug. 18 /PRNewswire-FirstCall/ — Patrick Industries, Inc. (Nasdaq:PATK – News) (the “Company”), a major manufacturer and distributor of building and component products for the recreational vehicle (RV), manufactured housing (MH) and industrial markets, announced today that it has signed a definitive agreement to acquire certain assets of Blazon International Group (“Blazon”), a distributor of various wiring, electrical, lighting, plumbing and other building products to the RV and MH industries. The transaction is expected to be completed by the end of August 2010.

“This acquisition fits within the scope of our strategic plan by adding new products that will expand our existing RV and MH distribution presence, and further demonstrates our continued commitment to serve these industries,” stated Todd Cleveland,  President and Chief Executive Officer. “We are excited about establishing long-term relationships with Blazon’s supplier base, and believe we possess the financial resources and geographic footprint to further grow these relationships and product lines through our existing established distribution channels.”

“We also look forward to enhancing our customer relationships by supplying our customers with the solid product lines brought over from Blazon and with the expertise that Blazon’s associates and product managers possess,” Cleveland further added.

About Patrick Industries

Patrick Industries, Inc. (www.patrickind.com) is a major manufacturer of component products and distributor of building products serving the recreational vehicle, manufactured housing, kitchen cabinet, household furniture, fixtures and commercial furnishings, marine, and other industrial markets and operates coast-to-coast through locations in 12 states.  Patrick’s major manufactured products include decorative vinyl and paper panels, wrapped mouldings, cabinet doors and components, interior passage doors, slotwall and slotwall components, and countertops.  The Company also distributes drywall and drywall finishing products, electronics, adhesives, cement siding, interior passage doors, roofing products, laminate flooring, and other miscellaneous products.

Forward-Looking Statements

This press release contains certain statements related to future results, or states our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995.  These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors.  Potential factors that could impact results include:  pricing pressures due to competition, costs and availability of raw materials, availability of commercial credit, availability of retail and wholesale financing for residential and manufactured homes, availability and costs of labor, inventory levels of retailers and manufacturers, levels of repossessed residential and manufactured homes, the financial condition of our customers, the ability to generate cash flow or obtain financing to fund growth, future growth rates in the Company’s core businesses, interest rates, oil and gasoline prices, the outcome of litigation, adverse weather conditions impacting retail sales, our ability to remain in compliance with our credit agreement covenants, and our ability to refinance or replace our credit facility.  In addition, national and regional economic conditions and consumer confidence may affect the retail sale of recreational vehicles and residential and manufactured homes.  The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.  Further information regarding these and other risks, uncertainties and factors is contained in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009, and in the Company’s Form 10-Qs for subsequent quarterly periods, which are filed with the Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov.

BSD Medical (BSDM) Receives FDA 510(k) Clearance to Market the MicroThermX Microwave Ablation System

SALT LAKE CITY–(BUSINESS WIRE)–BSD Medical Corporation (NASDAQ:BSDM – News) (Company or BSD) today announced that the U.S. Food and Drug Administration (FDA) has granted the Company a 510(k) clearance to market its MicroThermX Microwave Ablation System (MTX-180) for ablation of soft tissue. Clearance from the FDA of BSD’s 510(k) Premarket Notification submission authorizes the commercial sale of the MTX-180 in the United States. The MTX-180 was designed to provide a higher power, optimized system targeted to the growing therapeutic interventional and surgical oncology market.

The MTX-180 utilizes innovative synchronous phased array technology that was developed and patented by BSD to deliver targeted microwave energy to ablate (destroy) soft tissue. BSD employed its extensive 32-year background in developing thermal therapy systems in the design of the MTX-180. BSD’s patented and patents pending technology allows the MTX-180 to provide larger and more uniform zones of ablation during a single procedure. Third party independent testing was conducted at a U.S. university medical center that is a world leader in ablation treatments. The testing data demonstrated that the MTX-180 is a user-friendly system that delivers larger, more uniform ablation zones in shorter periods of time.

The MTX-180 is a compact, mobile, state-of-the-art, proprietary system that includes a microwave generator, single-patient-use disposable antennas, and a thermistor-based temperature monitoring system. The innovative design of the MTX-180 is the first of its kind that allows delivery of higher power levels using a single generator. The delivery of microwave energy is controlled utilizing an interactive, touch screen monitor that allows the operator to quickly and easily control the treatment.

“The MTX-180 represents a significant advance in our strategy to diversify BSD’s products and increase revenue,” said Harold Wolcott, BSD President. “The MTX-180 introduces into the Company’s product line an innovative, high-end disposable that is used in each ablation treatment, and will provide a significant ongoing revenue stream. The soft tissue ablation world market potential is estimated to exceed $2 billion. We believe that the MicroThermX System provides significant advantages over currently available devices that will allow us to capitalize on this rapidly expanding market.”

Currently, radiofrequency (RF) energy is utilized most frequently in the interventional oncology ablation market. Published studies have demonstrated that the use of microwave energy has numerous advantages over RF energy for the delivery of ablation therapy, including faster set-up, shorter ablation times, larger ablation zones, and higher intratumoral temperatures. For these reasons, interventional oncology key opinion leaders regard microwave as the future of soft tissue ablation therapy. The MTX-180 has been designed to provide optimized microwave ablation therapy.

The MTX-180 provides minimally invasive access to the target tissue and can be used in open surgical as well as in percutaneous ablation procedures, which will allow the MTX-180 to be used by both surgeons and interventional radiologists.

CE Marking approval for the MTX-180 System is imminent and will allow BSD to initiate a European market launch.

About BSD Medical Corporation

BSD Medical Corporation develops, manufactures, markets and services systems to treat cancer and benign diseases using heat therapy delivered using focused radiofrequency (RF) and microwave energy. BSD’s product lines include both hyperthermia and ablation treatment systems. BSD’s hyperthermia cancer treatment systems, which have been in use for several years in the United States, Europe and Asia, are used to treat certain tumors with heat (hyperthermia) while increasing the effectiveness of other therapies such as radiation therapy. BSD’s microwave ablation system has been developed as a stand-alone therapy to ablate and destroy soft tissue. The Company has developed extensive intellectual property, multiple products in the market and well established distribution in the United States, Europe and Asia. Certain of the Company’s products have received regulatory approvals in the United States, Europe and China. For further information visit BSD Medical’s website at www.BSDMedical.com.

Statements contained in this press release that are not historical facts are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to risks and uncertainties detailed in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date on which such statements are made, and the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date.

Fronteer Gold Inc. (FRG) Drilling Along Northern Extension Intersects 44.2 Metres of 10.14 g/t Gold

VANCOUVER, BRITISH COLUMBIA–(Marketwire – 08/18/10) – Fronteer Gold Inc. (TSX:FRG – News)(AMEX:FRG – News) provides an update on exploration and development activities at its Long Canyon gold project, including the reporting of significant intervals of high-grade oxide gold intersected northeast and southwest of the current resource area.

Long Canyon, Sandman and Northumberland gold projects comprise Fronteer Gold’s development platform in Nevada. Long Canyon’s 2010 program is multidisciplinary and focused on resource definition and expansion, as well as metallurgical, engineering, and environmental work necessary to advance the project toward production in the near-term.

EXPLORATION UPDATE

Drilling in 2010 is largely focused in the northern half of the deposit. Five drill rigs are currently operating on the property and more than 40,000 metres of the year’s originally planned 45,000 metres have been drilled to date (an additional 15,000 metres of drilling is forecasted through November).

Drill result highlights from the northern part of the deposit include:

 

--  10.14 grams per tonne gold (0.296 ounces per ton) over 44.2 metres,
    including 15.39 g/t (0.449 oz/ton) over 24.7 metres in LC529C;
--  6.51 g/t (0.190 oz/ton) over 41.8 metres, including 20.00 g/t (0.584
    oz/ton) over 11.0 metres in LC515C;
--  8.48 g/t (0.248 oz/ton) over 20.3 metres in LC537C(i);
--  5.75 g/t (0.168 oz/ton) over 29.0 metres, including 13.54 g/t (0.395
    oz/ton) over 9.1 metres in LC518.
--  4.72 g/t (0.138 oz/ton) over 24.4 metres, including 14.32 g/t (0.418
    oz/ton) over 2.7 metres in LC506C.

(i)Hole abandoned in mineralization due to poor ground conditions. Assays from successful re-drill pending.

In addition, new results indicate the deposit’s growth potential to the southwest. Drilling 300 metres to the southwest of the resource area along trend returned several shallow intercepts, including:

 

--  3.10 g/t (0.091 oz/ton) over 9.1 metres and 1.66 g/t (0.049 oz/ton) over
    16.8 metres in LC560.

The deposit is now 2.7-km long and remains open for expansion. For a map highlighting recent drilling, please click: http://www.fronteergold.com/sites/files/fronteer_admin/LongCanyonDrillMap1027.pdf.

Five out of nine planned monitoring wells have also been installed at the project, with the remaining four to be completed by the end of August.

Four, 15-ton surface bulk samples and one three-ton large-diametre core sample have also been collected for large-column metallurgical testing. Run-of-mine, heap-leach conditions will be simulated.

Drill highlights

 

---------------------------------------------------------------------------
                                          Intercept
Hole ID                From          To      Length          Au          Au
                    (metres)    (metres)    (metres)       (g/t)     oz/ton
---------------------------------------------------------------------------
LC368C                 18.2        45.4        27.2        4.29       0.125
---------------------------------------------------------------------------
LC484C                148.7       180.7        32.0        3.24       0.095
---------------------------------------------------------------------------
LC485C                212.4       215.5         3.1        1.71       0.050
---------------------------------------------------------------------------
and                   241.7       247.5         5.8        2.53       0.074
---------------------------------------------------------------------------
LC491C                138.1       141.1         3.1        1.80       0.052
---------------------------------------------------------------------------
and                   147.2       167.9        20.7        5.18       0.151
---------------------------------------------------------------------------
including             157.9       164.0         6.1       12.64       0.369
---------------------------------------------------------------------------
LC493C                125.3       153.9        28.7        3.65       0.107
---------------------------------------------------------------------------
including             137.8       142.6         4.9        9.28       0.271
---------------------------------------------------------------------------
LC498C                110.3       117.7         7.3        1.50       0.044
---------------------------------------------------------------------------
and                   136.2       146.3        10.1        3.53       0.103
---------------------------------------------------------------------------
including             139.3       141.9         2.6       10.94       0.319
---------------------------------------------------------------------------
LC502                  57.9        62.5         4.6        1.13       0.033
---------------------------------------------------------------------------
LC506C                102.7       127.1        24.4        4.72       0.138
---------------------------------------------------------------------------
including             107.0       109.7         2.7       14.32       0.418
---------------------------------------------------------------------------
LC515                  85.0       126.8        41.8        6.51       0.190
---------------------------------------------------------------------------
including             101.8       112.8        11.0       20.00       0.584
---------------------------------------------------------------------------
and                   135.0       137.0         2.0        2.49       0.073
---------------------------------------------------------------------------
LC518                 163.1       192.0        29.0        5.75       0.168
---------------------------------------------------------------------------
including             175.3       184.4         9.1       13.54       0.395
---------------------------------------------------------------------------
LC519C                109.4       114.9         5.5        2.28       0.067
---------------------------------------------------------------------------
LC521CB               130.1       140.8        10.7        2.74       0.080
---------------------------------------------------------------------------
LC523                   9.1        12.2         3.1        4.56       0.133
---------------------------------------------------------------------------
LC524C                197.2       201.6         4.4        1.75       0.051
---------------------------------------------------------------------------
LC525                 239.3       280.4        41.2        2.17       0.063
---------------------------------------------------------------------------
including             257.6       265.2         7.6        5.52       0.161
---------------------------------------------------------------------------
LC526C                 91.6       114.3        22.7        2.79       0.081
---------------------------------------------------------------------------
LC529C                159.4       203.6        44.2       10.14       0.296
---------------------------------------------------------------------------
including             174.7       199.3        24.7       15.39       0.449
---------------------------------------------------------------------------
LC537C                112.2       132.4        20.3        8.48       0.248
---------------------------------------------------------------------------
LC538                 269.7       271.3         1.5        1.28       0.037
---------------------------------------------------------------------------
LC539C                266.2       269.1         2.9        1.38       0.040
---------------------------------------------------------------------------
and                   282.9       295.4        12.5        6.27       0.183
---------------------------------------------------------------------------
including             286.1       288.3         2.3       14.82       0.433
---------------------------------------------------------------------------
LC558                  27.4        38.1        10.7        2.87       0.084
---------------------------------------------------------------------------
LC560                   9.1        18.3         9.1        3.10       0.091
---------------------------------------------------------------------------
and                    74.7        91.4        16.8        1.66       0.049
---------------------------------------------------------------------------

Primary drill composites were calculated using a cut-off of 0.30 g/t, with variably higher cut-offs for the sub-intervals. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be between 30-100% of the reported lengths. Intervals less than 1 g/t are not reported in this press-release table. “C” indicates a core hole. For a PDF of comprehensive drill results, including non-reportable intercepts, please click: http://www.fronteergold.com/sites/files/fronteer_admin/LongCanyonDrillResults1027.pdf

Fronteer Gold is majority owner (51%) and operator of Long Canyon in joint venture with AuEx Ventures (49%).

Moira Smith, P. Geo., Nevada Chief Geologist for Fronteer Gold, is the company’s designated Qualified Person for this news release and has reviewed and validated that the information contained in the release accurate. Drill composites were calculated using a cut-off of 0.30 g/t. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals are interpreted to be between 30-100% of the reported lengths. Reverse circulation cuttings were sampled on 5.0 feet (1.52 metre) intervals and core was sampled at geologically selected intervals. Drill samples were assayed by ALS Chemex (ISO9001:2000) in Reno, Nevada for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these samples, the gravimetric data were utilized in calculating gold intersections. QA/QC included the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected holes are also analyzed for a 72-element geochemical suite by ICP-MS.

ABOUT FRONTEER GOLD

We intend to become a significant gold producer. Our solid financial position and strong operational team give us the ability to advance our key gold projects through to production. Our future potential production platform includes our Long Canyon, Sandman and Northumberland projects – all located in Nevada, one of the friendliest gold-mining jurisdictions in the world. For further information on Fronteer Gold visit www.fronteergold.com.

Except for the statements of historical fact contained herein, certain information presented constitutes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to, those with respect to potential expansion of mineralization, potential size of mineralized zone, and size of exploration program involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Fronteer Gold to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to international operations and joint ventures , the actual results of current exploration activities, conclusions of economic evaluations, uncertainty in the estimation of ore reserves and mineral resources, changes in project parameters as plans continue to be refined, future prices of gold and silver, environmental risks and hazards, increased infrastructure and/or operating costs, labor and employment matters, and government regulation and permitting requirements as well as those factors discussed in the section entitled “Risk Factors” in Fronteer Gold’s Annual Information form and Fronteer Gold’s latest Form 40-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although Fronteer Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Fronteer Gold disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements.