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CNU solid earnings...


Continucare Corporation Reports Record Financial Results for Third Quarter of Fiscal 2010
Last update: 5/5/2010 7:02:00 AM
MIAMI, May 05, 2010 (BUSINESS WIRE) -- Continucare Corporation (CNU) today reported financial results for its third quarter of fiscal 2010. Financial highlights for the quarter include:
-- Total revenue of $80.3 million, a 6% increase compared to $75.4 million for the same period last year;
-- Income from operations of $9.7 million, a 38% increase compared to $7.0 million for the same period last year;
-- Net income of $5.9 million, a 36% increase compared to $4.3 million for the same period last year; and
-- Earnings per diluted share increased to $0.09 compared to $0.07 per diluted share for the same period last year.
For the nine-months ended March 31, 2010, total revenue increased 12% to $231.5 million compared to $206.0 million for the same period last year. Income from operations during the nine-month period increased 59% to $27.0 million compared to $17.0 million for the same period last year. Net income for the nine-month period increased 57% to $16.5 million, or $0.27 per diluted share, compared to $10.5 million, or $0.17 per diluted share, for the same period last year.
Continucare's cash and cash equivalents increased to $32.8 million at March 31, 2010 compared to $13.9 million at June 30, 2009, while working capital increased to $42.8 million at March 31, 2010 compared to $25.5 million at June 30, 2009. Total liabilities were $15.9 million at March 31, 2010 compared to $14.1 million at June 30, 2009. Shareholders' equity was $130.0 million at March 31, 2010 compared to $111.2 million at June 30, 2009.
"We are extremely pleased with our third quarter performance which represents our 12th consecutive quarter of year-over-year improvement," said Richard C. Pfenniger, Jr., Continucare's Chairman and Chief Executive Officer. "Record revenues and improved utilization outcomes yielded an improved medical loss ratio and increased operating profits. Continued strong operating results further strengthened our financial position as evidenced by our quarter-end cash and working capital positions which were at record levels and our balance sheet which remained virtually free of long-term indebtedness."
About Continucare Corporation
Continucare provides primary care physician services on an outpatient basis through a network of medical facilities and independent physician affiliates (IPAs) in the State of Florida. Continucare has 18 medical offices equipped with state-of-the-practice technology and staffed with experienced physicians and a comprehensive support staff. In addition, Continucare provides health practice management services to IPAs who practice primary care medicine in South Florida. Continucare assists these physicians with medical utilization and pharmacy management and specialist network development, freeing them to devote more time to patient care. Also, through its subsidiary, Seredor Corporation, Continucare operates sleep diagnostic centers in seven states. For more information on Continucare please visit , and for more information on Seredor please visit .
Except for historical matters contained herein, statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors and others are cautioned that forward-looking statements are subject to risks and uncertainties that may affect our business and prospects and cause our actual results to differ materially from those set forth in the forward-looking statements including the following: our operations are dependent on three health maintenance organizations; under our most important contracts we are responsible for the cost of medical services to our patients in return for a capitated fee; our revenues will be affected by the Medicare Risk Adjustment program; if we are unable to manage medical benefits expense effectively, our profitability will likely be reduced; a failure to estimate incurred but not reported medical benefits expense accurately will affect our profitability; we compete with many health care providers for patients and HMO affiliations; we may not be able to successfully recruit or retain existing relationships with qualified physicians and medical professionals; our business exposes us to the risk of medical malpractice lawsuits; we primarily operate in Florida; a significant portion of our voting power is concentrated; we are dependent on our executive officers and other key employees; we depend on the management information systems of our affiliated HMOs; we depend on our information processing systems; the volatility of our stock price; a failure to successfully implement our business strategy could materially and adversely affect our operations and growth opportunities; our intangible assets represent a substantial portion of our total assets; competition for acquisition targets and acquisition financing and other factors may impede our ability to acquire other businesses and may inhibit our growth; our acquisitions could result in integration difficulties, unexpected expenses, diversion of management's attention and other negative consequences; enacted health care reform could adversely affect our business; a decrease to our Medicare capitation payments may have a material adverse effect on our results of operations, financial position and cash flows; we are subject to government regulation; the health care industry is subject to continued scrutiny; our insurance coverage may not be adequate, and rising insurance premiums could negatively affect our profitability; deficit spending and economic downturns could negatively impact our results of operations; and many factors that increase health care costs are largely beyond our ability to control. These and other applicable risks, cautionary statements and factors that could cause actual results to differ from our forward-looking statements are included in our most recent annual report on Form 10-K and other filings with the SEC and we urge you to read those documents. We undertake no obligation to update or revise these forward-looking statements to reflect events or circumstances after the date hereof except as required by law.

C ONTINUCARE CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) ASSETS March 31, June 30, 2010 2009 ----------------- -----------------Current assets: Cash and cash equivalents $ 32,778,393 $ 13,895,823 6 - Certificate of deposit 66,418 Due from HMOs, net of a liability for incurred but not reported 1 1 medical claims expense of approximately $23,105,000 and $23,719,000 6,474,615 7,323,599 at March 31, 2010 and June 30, 2009, respectively Prepaid expenses and other current assets 1,682,126 812,970 Deferred income tax assets 140,584 141,420 ----------- ----------- Total current assets 51,742,136 32,173,812Certificates of deposit, restricted - 1,233,653Property and equipment, net 12,519,657 10,489,383Goodwill 74,021,585 73,204,582Intangible assets, net of accumulated amortization of approximately 4 5$4,379,000 and $3,406,000 at March 31, 2010 and June 30, 2009, ,623,274 ,253,666respectivelyDeferred income tax assets 2,869,348 2,795,588Other assets, net 89,614 152,702 ----------- -----------Total assets $ 145,865,614 $ 125,303,386 ====== =========== ====== =========== LIABILITIES AND SHAREHOLDERS' EQUITYCurrent liabilities: Accounts payable $ 868,379 $ 652,305 Accrued expenses and other current liabilities 6,973,009 4,455,675 Income taxes payable 1,084,566 1,575,511 ----------- -----------Total current liabilities 8,925,954 6,683,491Deferred income tax liabilities 6,714,894 6,435,732Other liabilities 217,969 981,640 ----------- ----------- Total liabilities 15,858,817 14,100,863Commitments and contingenciesShareholders' equity: Common stock, $0.0001 par value: 100,000,000 shares authorized; 6 5 60,077,299 shares issued and outstanding at March 31, 2010 and ,008 ,939 59,391,049 shares issued and outstanding at June 30, 2009 Additional paid-in capital 107,517,094 105,210,519 Accumulated earnings 22,483,695 5,986,065 ----------- ----------- Total shareholders' equity 130,006,797 111,202,523 ----------- ----------- Total liabilities and shareholders' equity $ 145,865,614 $ 125,303,386 ====== =========== ====== ===========

C ONTINUCARE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended March 31, ---------------------------------- 2010 2009 -------------------- --------------------Revenue $ 80,274,545 $ 75,395,799Operating expenses: Medical services: Medical claims 52,081,382 53,217,866 Other direct costs 8,052,068 7,232,634 ---------- ---------- Total medical services 60,133,450 60,450,500 ---------- ---------- Administrative payroll and employee benefits 5,208,903 3,539,646 General and administrative 5,194,384 4,364,000 ---------- ---------- Total operating expenses 70,536,737 68,354,146 ---------- ----------Income from operations 9,737,808 7,041,653Other income (expense): Interest income 13,509 27,843 Interest expense (104,614 ) (9,087 ) ---------- - ---------- -Income before income tax provision 9,646,703 7,060,409Income tax provision 3,746,092 2,733,906 ---------- ----------Net income $ 5,900,611 $ 4,326,503 ====== ========== ====== ==========Net income per common share: Basic $ .10 $ .07 ====== ========== ====== ========== Diluted $ .09 $ .07 ====== ========== ====== ==========Weighted average common shares outstanding: Basic 59,984,393 59,904,532 ========== ========== Diluted 62,186,634 60,848,054 ========== ==========

C ONTINUCARE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Nine Months Ended March 31, ------------------------------------ 2010 2009 --------------------- ---------------------Revenue $ 231,503,010 $ 206,000,328Operating expenses: Medical services: Medical claims 155,062,089 145,683,860 Other direct costs 23,425,011 21,534,562 ----------- ----------- Total medical services 178,487,100 167,218,422 ----------- ----------- Administrative payroll and employee benefits 12,260,742 9,393,652 General and administrative 13,771,529 12,410,761 ----------- ----------- Total operating expenses 204,519,371 189,022,835 ----------- -----------Income from operations 26,983,639 16,977,493Other income (expense): Interest income 46,692 151,634 Interest expense (111,120 ) (17,184 ) ----------- - ----------- -Income before income tax provision 26,919,211 17,111,943Income tax provision 10,421,581 6,629,498 ----------- -----------Net income $ 16,497,630 $ 10,482,445 ====== =========== ====== ===========Net income per common share: Basic $ .28 $ .17 ====== =========== ====== =========== Diluted $ .27 $ .17 ====== =========== ====== ===========Weighted average common shares outstanding: Basic 59,657,867 62,059,381 =========== =========== Diluted 61,531,035 63,119,454 =========== ===========

C ONTINUCARE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Nine Months Ended March 31, ----------------------------------- 2010 2009 -------------------- ---------------------CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 16,497,630 $ 10,482,445 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 2,114,468 1,660,956 Loss on disposal of fixed assets 10,946 64,586 Loss on impairment of fixed assets 96,000 - Compensation expense related to issuance of stock options 1,125,443 908,954 Excess tax benefits related to exercise of stock options (336,288 ) - Deferred income tax expense 206,238 (161,856 ) Changes in operating assets and liabilities: Due from HMOs, net 848,984 1,153,491 Prepaid expenses and other current assets (253,450 ) (148,336 ) Other assets, net 79,498 93,555 Accounts payable 205,799 498,004 Accrued expenses and other current liabilities 1,209,457 (1,079,590 ) Income taxes payable (154,657 ) (188,646 ) ---------- - ----------- -Net cash provided by operating activities 21,650,068 13,283,563CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sales of certificates of deposit 575,603 - Purchase of certificates of deposit (8,368 ) (19,888 ) Acquisition of sleep diagnostic centers, net of cash acquired (1,592,346 ) - Purchase of property and equipment (2,672,866 ) (2,161,231 ) ---------- - ----------- -Net cash used in investing activities (3,697,977 ) (2,181,119 )CASH FLOWS FROM FINANCING ACTIVITIES Principal repayments under capital lease obligations (250,722 ) (83,092 ) Proceeds from exercise of stock options 844,913 10,625 Excess tax benefits related to exercise of stock options 336,288 - Repurchase of common stock - (10,608,315 ) ---------- ----------- -Net cash provided by (used in) financing activities 930,479 (10,680,782 ) ---------- ----------- -Net increase in cash and cash equivalents 18,882,570 421,662Cash and cash equivalents at beginning of period 13,895,823 9,905,740 ---------- -----------Cash and cash equivalents at end of period $ 32,778,393 $ 10,327,402 ====== ========== ====== ===========SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCINGACTIVITIES: Purchase of property and equipment with proceeds of capital lease $ 222,172 $ 103,667 obligations ====== ========== = ====== =========== = Retirement of treasury stock $ - $ 10,608,315 ====== ========== ====== ===========SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid for taxes $ 10,370,000 $ 6,980,000 ====== ========== ====== =========== Cash paid for interest $ 14,120 $ 12,184 ====== ========== ====== ===========

SOURCE: Continucare Corporation

Continucare Corporation Fernando L. Fernandez, Senior Vice President -- Finance, 305-500-2105

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CFW news AH

Cano Announces Mid-Year Fiscal 2010 Reserves

FORT WORTH, Texas--(BUSINESS WIRE)--Cano Petroleum, Inc. (NYSE Amex:CFW) today announced the results of a mid-year Fiscal 2010 Reserves review as prepared by Haas Petroleum Engineering Services, Inc. (Haas), its new independent petroleum engineer. Haas prepared 100% of the reserves for the properties. The Company replaced approximately 300% of estimated mid-year 2010 fiscal year production of 197.5 MBOE at an estimated reserve replacement cost of $15.84/BOE (including extensions and discoveries, excluding asset sales and production, and capital expenditures of $9.4 million). Over a two-and-one-half-year period, Cano had an estimated reserve replacement cost of $16.30/BOE.

Haas estimates Cano’s proved oil and gas reserves at December 31, 2009 to be 43.0 MMBOE, of which Proved Developed reserves were 8.8 MMBOE, down 6.3% as compared to 10.1 MMBOE at June 30, 2009, including property sales (510.6 MBOE) and production (197.5 MBOE). Reserves by property are as follows:
(in MBOE) FY 2009 Mid-Year 2010
Properties PDP PDNP PUD Proved PDP PDNP PUD Proved
Panhandle 3,440 - 25,433 28,873 2,462 383 20,990 23,835
Cato 1,858 530 13,582 15,970 1,095 724 13,216 15,035
Nowata 1,547 - - 1,547 1,584 53 - 1,637
Davenport 744 565 - 1,309 685 507 - 1,192
Desdemona 147 1,251 - 1,398 419 888 16 1,323
Total 7,736 2,346 39,015 49,097 6,245 2,555 34,222 43,022

Proved reserves declined 10.9%, net of asset sales and production, to 43.0 MMBOE. The majority of the reduction was due to a reduction in the PUD waterflood secondary to primary ratio at 15 of our 33 leases in the Panhandle Properties. All reserves associated with the Panhandle PUD reduction were reclassified into the probable reserve category. A divestiture at our Panhandle properties (containing 18 gas wells and one oil well) accounted for a reduction in PDP reserves of 510.6 MBOE. The sale was closed in January 2010, with an effective date of December 31, 2009. Net of the PUD reclassification and asset sales at the Panhandle Properties, all other Proved reserves declined 2.1%.

The estimates above do not include the effects of the SEC’s final rule, “Modernization of Oil and Gas Reporting,” issued in December 2008. This final rule is effective for annual reports on Forms 10-K for years ending on or after December 31, 2009. Haas utilized pricing at December 31, 2009 of $79.39 per barrel of oil and $5.82 per mcf of gas. Since early adoption of the final rule is prohibited, the final rule will be fully applied in the Company’s annual report on Form 10-K for the year ending June 30.

Oil reserves account for 77% (versus 79% at June 30, 2009) of Proved reserves and Proved Developed reserves account for 20% (versus 21% at June 30, 2009) of Proved reserves. Pre-tax PV-10 of our Proved reserves as of December 31, 2009 is $513.4 million (versus $471.3 million at June 30, 2009), of which $99.7 million is associated with Proved Developed reserves (versus $78.4 million at June 30, 2009).

The 593.0 MBOE of Extensions and Discoveries include newly identified behind-pipe opportunities at the Cato and Panhandle Properties. Additionally, approximately 311 MBOE of previously categorized PDNP reserves at Desdemona were reclassified to PDP as we re-activated prior shut-in Duke Sand gas production.
Summary of Changes in Proved Reserves MBOE
Reserves at June 30, 2009 49,097
Extensions and Discoveries 593
Producing Property Sales (511 )
Forecast Revisions (5,959 )
Estimated Production (198 )
Reserves at December 31, 2009 43,022

Reserve replacement is calculated by dividing the sum of reserve extensions, discoveries and acquisitions by production. Reserve replacement cost is calculated by dividing the sum of reserve extensions, discoveries and acquisitions by capital expenditures.

ABOUT CANO PETROLEUM:

Cano Petroleum Inc. is an independent Texas-based energy producer with properties in the midcontinent region of the United States. Led by an experienced management team, Cano’s primary focus is on increasing domestic production from proven fields using enhanced recovery methods. Cano trades on the American Stock Exchange under the ticker symbol CFW. Additional information is available at www.canopetro.com.

Safe-Harbor Statement -- Except for the historical information contained herein, the matters set forth 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. The Company intends that all such statements be subject to the “safe-harbor” provisions of those Acts. Many important risks, factors and conditions may cause the Company’s actual results to differ materially from those discussed in any such forward-looking statement. These risks include, but are not limited to, estimates or forecasts of reserves, estimates or forecasts of production, future commodity prices, exchange rates, interest rates, geological and political risks, drilling risks, product demand, transportation restrictions, the ability of Cano Petroleum, Inc. to obtain additional capital, and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. The historical results achieved by the Company are not necessarily indicative of its future prospects. 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.

Contacts

Cano Petroleum, Inc.
Ben Daitch, 877-698-0900
Senior Vice President & CFO
INFO@canopetro.com

DYAX news AH

Dyax Announces Underwriter’s Exercise of Over-allotment Option

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dyax Corp. (NASDAQ: DYAX) announced today that Jefferies & Company, Inc. exercised in full its over-allotment option to purchase an additional 2,550,000 shares of the Company’s common stock at a public offering price of $3.25 per share. The over-allotment option was granted to the underwriters by Dyax in connection with its recent offering of common stock. The exercise of the option brings the aggregate net proceeds from the offering to approximately $59.6 million. The sale of the additional shares closed on April 5, 2010.

Jefferies & Company, Inc. acted as the sole book-running manager of the offering with Needham & Company, LLC acting as the co-lead manager.

Dyax intends to use the net proceeds from this offering to fund commercialization and distribution activities for KALBITOR® (ecallantide), its lead product for the treatment of acute attacks for hereditary angioedema, to fund other research and preclinical development activities, and for general corporate purposes.

A registration statement relating to the shares of Dyax common stock being offered has been filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”). A final prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and related prospectus may be obtained from Jefferies & Company, Inc., Attention: Syndicate Prospectus Department, 520 Madison Avenue, New York, NY, 10022 or at (888) 449-2342. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Dyax

Dyax is a fully integrated biopharmaceutical company focused on discovering, developing and commercializing novel biotherapeutics for unmet medical needs, with an emphasis on inflammatory and oncology indications. Dyax utilizes its proprietary drug discovery technology to identify antibody, small protein and peptide compounds for clinical development. Dyax’s first product, KALBITOR® (ecallantide), is available in the United States for the treatment of acute attacks of hereditary angioedema in patients 16 years of age and older.

Dyax’s lead product candidate is DX-88, a recombinant, small protein that is being evaluated for its therapeutic potential in other angioedema indications (ACE inhibitor-induced and acquired angioedemas). DX-88 is also being evaluated through Dyax’s partner, Fovea Pharmaceuticals (sanofi aventis), in a Phase 1 trial for retinal vein occlusion-induced macular edema.

DX-88 and other compounds in Dyax’s pipeline were identified using its patented phage display technology, which rapidly selects compounds that bind with high affinity and specificity to therapeutic targets. Dyax leverages this technology broadly with over 70 revenue generating licenses and collaborations for therapeutic discovery, as well as in non-core areas such as affinity separations, diagnostic imaging, and research reagents. Dyax is headquartered in Cambridge, Massachusetts. For online information about Dyax Corp., please visit www.dyax.com.

Dyax and the Dyax logo are registered trademarks of Dyax Corp.

Contacts

Dyax Corp.
George Migausky, 617-250-5733
Executive Vice President
and Chief Financial Officer
gmigausky@dyax.com
or
Nicole Jones, 617-250-5744
Director, Investor Relations and
Corporate Communications
njones@dyax.com

CDCS news PM

CDC Software’s Cloud-Based On-Demand eCommerce Platform to Integrate with Bidz.com’s Premier Auction Marketplace

Integration Part of Strategic Partnership with One of North America’s Leading Jewelry Auctioneers

ATLANTA & SHANGHAI--(BUSINESS WIRE)--CDC Software (NASDAQ: CDCS), a global provider of enterprise software applications and services, today announced it plans to integrate its cloud-based on-demand eCommerce platform with one of North America’s premier auction marketplaces as part of a strategic partnership with Bidz.com (NASDAQ: BIDZ), a leading online jewelry auctioneer in North America.

“Customers can utilize this new channel to help increase their sales and ultimately grow their bottom line.”

This partnership is expected to help CDC eCommerce customers, that include some of the world’s leading brand manufacturers and retailers, increase sales volume, as well as leverage an alternate channel of distribution for their products. As part of this partnership, customers can list items, like consumer electronics, computers and sports related products, which are not specialities of this jewelry auctioneer, exclusively into Bidz.com through its CDC cloud-based eCommerce system. This will help CDC eCommerce customers’ help increase online sales though auctioning off excess inventory into a highly visible distribution channel. In turn, CDC eCommerce customers also will provide Bidz.com with access to products beyond jewelry which helps them expand in the growing online auction marketplace.

CDC eCommerce is a cloud-based on-demand eCommerce platform based on a 100 percent multi-tenant architecture that helps retailers and manufacturers effectively sell products through multiple online sales channels and across international boundaries. CDC eCommerce powers more than 150 ecommerce sites in 10 countries that include some of the world’s leading brands such as Sirius XM Satellite Radio, Dell Financial Services, Philips, Major League Baseball, Wolford, Genco, American Airlines, National Football League (NFL), Sears, Starwood, United Airlines and National Hockey League (NHL).

Bidz.com offers live auctions on its website 24 hours a day, seven days a week. Bidz.com also features a unique live auction process where bidding ends at a preset deadline, unlike other sites where auctions can last for days. Bidz.com auctions are fast-paced with auctions that last as long as there are bidding, and close if there has not been a bid in 15 seconds.

“This partnership provides CDC Software with a new exclusive distribution channel for customers while adding additional opportunities for transactional revenue,” said Gary Black, general manager of CDC eCommerce product line of CDC Software. “Customers can utilize this new channel to help increase their sales and ultimately grow their bottom line.”

“We are delighted to partner with CDC Software and provide their world class customers exclusive access to our unique auction marketplace,” said Leon Kuperman, president of Bidz.com. “We believe that Bidz.com can help bring these customers’ excess inventory into a highly visible distribution channel that has bidders from as many as 130 countries. CDC eCommerce customers also will provide us with access to products beyond jewelry that will help us expand even further in the growing online auction marketplace.”

About Bidz.com

Bidz.com, founded in 1998, is a leading online retailer of jewelry. Bidz offers its products through a live auction format as well as a fixed price online retail store, Buyz.com. Bidz.com's auctions are also available in Arabic, German and Spanish. To learn more about Bidz.com visit its website at www.bidz.com, which is not part of this press release. Bidz also operates Modnique, a division of Bidz.com, an exclusive private sale shopping site for members-only, offering authentic premium brand name merchandise. Modnique offers its members exclusive access to 24-72 hour sales events on designer apparel, accessories, shoes, and houseware and much more at price points up to 85 percent below traditional retail prices. To learn more about Modnique visit its website at www.modnique.com, which is not part of this press release.

About CDC eCommerce

CDC eCommerce (www.cdcecommerce.com) is a leading cloud-based on-demand eCommerce platform for retailers and manufacturers that helps them effectively sell products through multiple online sales channels and across international boundaries. Powering more than 150 ecommerce sites in 10 countries, CDC eCommerce provides its client base with a unique combination of technology and professional services, allowing these organizations to effectively outsource core elements of their eCommerce operations. Many of the most well respected brands in the world, such as Sirius Satellite Radio, Major League Baseball, and Dell Financial Services, use CDC eCommerce.

About CDC Software

CDC Software (NASDAQ: CDCS), The Customer-Driven Company™, is a provider of enterprise software applications and a full range of services designed to help organizations deliver a superior customer experience, while increasing efficiencies and profitability. Leveraging a service-oriented architecture (SOA), CDC Software offers multiple delivery options for their solutions including on-premise, hosted, cloud-based Software as a Service (SaaS) or blended-hybrid deployment offerings. CDC Software’s solutions include enterprise requirements planning (ERP), manufacturing operations management, enterprise manufacturing intelligence, supply chain management (demand management, order management and warehouse and transportation management), e-Commerce, human capital management, customer relationship management (CRM), complaint management and aged care solutions.

CDC Software’s recent acquisitions are part of its “acquire, integrate, innovate and grow” strategy. Fueling the success of this strategy is the company’s global scalable business and technology infrastructure featuring multiple complementary applications and services, domain expertise in vertical markets, cost effective product engineering centers in India and China, a highly collaborative and fast product development process utilizing Agile methodologies, and a worldwide network of direct sales and channel operations. This strategy has helped CDC Software deliver innovative and industry-specific solutions to more than 6,000 customers worldwide within the manufacturing, distribution, transportation, retail, government, real estate, financial services, health care, and not-for-profit industries. For more information, please visit www.cdcsoftware.com.

Cautionary Note Regarding Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding our and bidz.com expectations regarding this strategic partnership and relationship and the potential benefits of this relationship to each party and their respective customers including potential increases in sales volumes, our beliefs and expectations regarding this partnership to target markets, our beliefs regarding the intentions and beliefs of both parties relating to market expansion and penetration and performance under this strategic partnership, our beliefs relating to the leveraging of the Bidz.com auction marketplace by CDC eCommerce customers, our expectations and those of bidz.com with respect to market and customer needs, demands and preferences, and other statements that are not historical fact, the achievement of which involve risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions proves incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. These statements are based on management's current expectations and are subject to risks and uncertainties and changes in circumstances. There are important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, including the following: (a) the ability to realize strategic objectives by taking advantage of market opportunities; (b) the ability to make changes in business strategy, development plans and product offerings to respond to the needs of current, new and potential customers, in the process manufacturing industries; (c) the ability to address technological changes and developments including the development and enhancement of products; (d) the fulfillment of contractual obligations by our partners. Further information on risks or other factors that could cause results to differ is detailed in our filings or submissions with the United States Securities and Exchange Commission, and those of our ultimate parent company, CDC Corporation, located at www.sec.gov. All forward-looking statements included in this press release are based upon information available to management as of the date of the press release, and you are cautioned not to place undue reliance on any forward looking statements which speak only as of the date of this press release. The company assumes no obligation to update or alter the forward looking statements whether as a result of new information, future events or otherwise. Historical results are not indicative of future performance.
Contacts

CDC Corporation
Investor Relations:
Monish Bahl, 678-259-8510
mbahl@cdcsoftware.com
or
Media Relations:
CDC Software
Lorretta Gasper, 678-259-8631
lgasper@cdcsoftware.com
or
Bidz Investor Relations:
Addo Communications, Inc.
Andrew Greenebaum, 310-829-5400
andrewg@addocommunications.com
Permalink: http://www.businesswire.com/news/home/20100405005519/en/CDC-Software%E2%80%99s-Cloud-Based-On-Demand-eCommerce-Platform-Integrate

DYAX news PM

First-Ever Published Study Underscores Significant Economic Burden of Hereditary Angioedema on Patients, Families and the Healthcare System

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dyax Corp. (NASDAQ: DYAX) announced the publication of a first-ever comprehensive examination of the economic burden associated with the treatment of acute attacks and chronic management of hereditary angioedema (HAE). The results, published today in the Annals of Allergy, Asthma, and Immunology, bring to light the substantial direct and indirect medical costs of the disease on patients, payers and society. The economic study is one component of a larger survey-based Burden of Illness (BOI) study which assessed both the economic and humanistic burden of HAE. The BOI study was conducted by Dyax in conjunction with the United States Hereditary Angioedema Association (HAEA) and United Biosource Corporation (UBC).

“I have made several sacrifices in my career and personal life because of HAE. The unpredictability and frequency of my laryngeal attacks have made it impossible for me to continue working as a computer operator and, as a result, I’ve been out of work for twelve years”

Monetizable and non-monetizable costs were captured in the study and highlighted HAE’s costly and detrimental impact for patients, payers and society. Monetizable costs averaged $42,000 annually per HAE patient. Costs included direct costs associated with emergency care, physician visits, hospital stays, tests and procedures, and medications, as well as indirect costs such as missed work days and reduced productivity. Costs increased with disease severity. Patients who reported their most recent attack as severe amassed an estimated $96,000 in annual per patient costs. The largest cost component, accounting for approximately 48% of total costs for the average HAE patient, is emergency room visits and hospital stays for managing acute attacks.

Additional non-monetizable costs were reflected in the study yet were not part of the quantifiable analysis. These costs, which further exacerbate the economic burden on patients, payers and society, included the burden of increased depression, reduced income potential and missed opportunities. These non-monetizable costs consist of the cost of managing depression (42.5% percent of patients showed signs of at least mild depression and 19.5% reported that they were taking psychotropic or antidepressant medication), and the financial consequence of common activities being impacted such as driving, exercising and studying. Other costs that were not part of the analyses include the expense of improper procedures and medications as well as indirect costs related to non-paid caregivers. As such, these compounding costs underestimate the total costs associated with HAE.

“I have made several sacrifices in my career and personal life because of HAE. The unpredictability and frequency of my laryngeal attacks have made it impossible for me to continue working as a computer operator and, as a result, I’ve been out of work for twelve years,” said Joan Angert, who was not officially diagnosed with HAE until nine years ago, though she suffered from its symptoms for 30 years.

HAE is a rare genetic disease characterized by unpredictable acute episodes of severe, often painful swelling affecting the extremities, abdomen and the larynx. On average, participants experienced 26.9 acute attacks per year. HAE is estimated to affect 1:10,000 to 1:50,000 individuals. More than half (56.5%) of the respondents from the study reported that they experienced painful abdominal symptoms for their most recent attacks while 24.5% reported laryngeal symptoms. Laryngeal attacks pose the greatest risk with the potential for asphyxiation.

“Our study provides a comprehensive survey of the burden patients with HAE live with,” explained lead author David Wilson, MA, Assistant Professor, MGH Institute of Health Professions. “The breadth of the economic consequences highlighted in this study hopefully will raise people’s understanding of the disease and inform them of the value of having new therapies available for the people with HAE.”

Study Methodology

The Burden of Illness study, developed in consultation with expert health economists, HAE experts, and HAE patients, was conducted from November 2007 to January 2008. Study participants were recruited using the HAEA database of HAE patients. The study collected responses from 457 HAE patients via an Institutional Review Board-approved, web-based survey that solicited information on attack characterization, acute attack treatment, chronic disease management, impact on work and patient costs. A standardized instrument, the Work Productivity and Activity Impairment (WPAI) tool, was included to assess impact on work and productivity. Standard medical costs and U.S. average wage costs were assigned to survey items to assess direct medical and indirect costs, respectively.

About HAE

Hereditary angioedema (HAE) is a rare acute inflammatory condition characterized by episodes of severe, often painful swelling affecting the extremities, the gastrointestinal tract, the genitalia, and in the larynx. HAE is caused by low or dysfunctional levels of C1 esterase inhibitor (C1-INH), a naturally occurring molecule that inhibits plasma kallikrein, a key mediator of inflammation, and other serine proteases in the blood. HAE is estimated to affect 1:10,000 to 1:50,000 individuals. Learn more at www.HAEHope.com.

About Dyax

Dyax is a fully integrated biopharmaceutical company focused on discovering, developing and commercializing novel biotherapeutics for unmet medical needs, with an emphasis on inflammatory and oncology indications. The Company utilizes its proprietary drug discovery technology, phage display, to identify antibody, small protein and peptide compounds for clinical development. Dyax also leverages this technology broadly with over 70 revenue generating licenses and collaborations for therapeutic discovery, as well as in non-core areas such as affinity separations, diagnostic imaging, and research reagents. Dyax is headquartered in Cambridge, Massachusetts. For online information about Dyax Corp., please visit www.dyax.com.

Contacts

Dyax Corp.
Ivana Magovcevic-Liebisch, 617-250-5759
Executive Vice President Corporate Development and General Counsel
imagovcevic@dyax.com
or
Nicole Jones, 617-250-5744
Director, Investor Relations and Corporate Communications
njones@dyax.com

Permalink: http://www.businesswire.com/news/home/20100405005194/en/First-Ever-Published-Study-Underscores-Significant-Economic-Burden

HDNG news, PM

Hardinge’s Board of Directors Unanimously Recommends Rejection of Romi’s Tender Offer

Reiterates That Romi’s Unsolicited Bid is Grossly Inadequate and Opportunistic Files 14D-9 with SEC Detailing Reasons for Board’s Recommendation

ELMIRA, N.Y.--(BUSINESS WIRE)--Hardinge Inc. (NASDAQ: HDNG) (“Hardinge”) today announced that its Board of Directors voted unanimously to recommend that Hardinge shareholders reject Indústrias Romi S.A.’s (Bovespa: ROMI3) (“Romi”) $8.00 per common share cash tender offer (the “Offer”) as grossly inadequate, opportunistic, and not in the best interests of Hardinge and its shareholders.

“or any other merger or other similar business combination with the Company”

The Board noted that it unanimously rejected a proposal from Romi at the same price on February 18, 2010. The Company has filed a Schedule 14D-9 with the Securities and Exchange Commission (“SEC”) detailing the reasons for its rejection of Romi’s offer. The full text of the filing will be available in the Investor Relations section of Hardinge’s website at http://www.hardinge.com and on the SEC website at http://www.sec.gov/.

Kyle H. Seymour, Non-Executive Chairman of the Board of Directors of Hardinge, said, “Our Board’s position remains clear and unanimous – this is an opportunistic attempt by Romi to acquire Hardinge at a grossly inadequate price that fails to reflect the value of our significant industry position, global market presence, and future growth prospects. The Hardinge Board strongly urges shareholders to reject Romi’s offer and not tender their shares.”

Richard L. Simons, President & Chief Executive Officer of Hardinge, added, “Over the past year, we have made substantial progress positioning Hardinge for significantly improved performance, including taking steps that have generated annual fixed cost savings of approximately $30 million. Management and the Board believe that the Company is poised to reap the benefits of its streamlined operating structure and to outperform market improvements as the machine tool industry recovers.”

In making its determination, the Hardinge Board, taking into account advice received from its legal and financial advisors and senior management of the Company, considered numerous factors, including their belief that:

Hardinge is well-positioned to emerge strongly from the current economic downturn and to benefit significantly as the machine tool industry recovers.

* The Board believes that Hardinge and its shareholders are poised to realize significant benefits as the economy emerges from the recession and as industrial production rebounds in Hardinge’s key geographical markets.
* A successful acquisition of Hardinge by Romi at this time would enable Romi, instead of Hardinge shareholders, to capture the benefits of Hardinge’s improved financial performance in such a recovery.

Romi’s Offer is grossly inadequate.

* The Board does not believe that the $8.00 per share price offered by Romi reflects the underlying value of Hardinge’s assets, operations and growth prospects, and the significant additional value that the Board and senior management believe would result from the continued implementation of Hardinge’s strategic plan.
* Various value-creating and cost-saving initiatives have provided additional value to Hardinge and its shareholders that is not reflected in Romi’s Offer. Several initiatives undertaken by Hardinge in 2008 and 2009 have significantly improved the Company’s operating cost structure, working capital levels and business model, generating annual fixed cost savings of approximately $30 million and a significantly reduced breakeven point in U.S. operations.

Romi’s Offer is opportunistic.

* The Board believes that Romi, a fellow industry participant, recognizes the significant medium- and long-term value creation potential of Hardinge’s assets and strategic plan, recent value-creation and cost-saving initiatives and potential returns from the pursuit of new marketplace opportunities, and has opportunistically timed its Offer to acquire Hardinge before the full impact of these factors and the industry’s recovery can be reflected in Hardinge’s results of operations and share price.
* The Board also notes that, even though after Romi first made its $8.00 per share proposal Hardinge announced an approximate $27 million improvement in the funded status of its pension plans, Romi commenced its tender offer at the same $8.00 price previously proposed and rejected without giving any credit for this increased value.

Romi’s Offer values Hardinge at a price significantly below historical valuations.

* Prior to the fourth quarter of 2008, when the economic recession took a significant toll on Hardinge and the machine tool industry as a whole, the market price of Hardinge common stock regularly traded in the double digits, ranging from the mid-teens to significantly higher trading levels in previous periods.
* The Board believes that a return to a double digit stock price for Hardinge’s common shares is realistically attainable in the medium term if management projections are met, with the key variables being how soon the industry will turn upward and the strength of the rebound.

Romi’s Offer is highly conditional.

* The Offer includes over 20 conditions to the obligations of Romi, several of which are vague, have very low thresholds or give Romi broad discretion to determine whether or not they are satisfied, resulting in substantial uncertainty as to whether Romi would be obligated to consummate the Offer.

Romi’s Offer is coercive.

* The Board believes that a tender offer for a small-cap company like Hardinge is structurally coercive. In the Offer, Romi specifically states that shareholders who do not tender their shares may be left holding illiquid securities, because of the small public float and the risk that the issuer is delisted.
* The terms of the Offer further validate this concern and justify the Board’s prior actions. In the Offer, Romi indicates that even if the Offer is consummated, it reserves the right not to propose the second-step merger “or any other merger or other similar business combination with the Company” in the Offer.

Jefferies & Company, Inc. is acting as financial advisor to Hardinge and Wachtell, Lipton, Rosen & Katz is providing legal advice. Questions and requests for assistance regarding the tender offer may be directed to Hardinge’s Information Agent, Okapi Partners LLC, toll-free at (877) 279-2311.

About Hardinge Inc.

Hardinge is a global designer, manufacturer and distributor of machine tools, specializing in SUPER PRECISION™ and precision CNC Lathes, high performance Machining Centers, high-end cylindrical and jig Grinding Machines, and technologically advanced Workholding & Rotary Products. The Company’s products are distributed to most of the industrialized markets around the world with approximately 70% of the 2009 sales outside of North America. Hardinge has a very diverse international customer base and serves a wide variety of end-user markets. This customer base includes metalworking manufacturers which make parts for a variety of industries, as well as a wide range of end users in the aerospace, agricultural, transportation, basic consumer goods, communications and electronics, construction, defense, energy, pharmaceutical and medical equipment, and recreation industries, among others. The Company has manufacturing operations in the United States, Switzerland, Taiwan, and China. Hardinge’s common stock trades on NASDAQ Global Select Market under the symbol, “HDNG.” For more information, please visit http://www.hardinge.com.

This news release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended). Such statements are based on management’s current expectations that involve risks and uncertainties. Any statements that are not statements of historical fact or that are about future events may be deemed to be forward-looking statements. For example, words such as "may," "will," "should," "estimates," "predicts," "potential," "continue," "strategy," "believes," "anticipates," "plans," "expects," "intends," and similar expressions are intended to identify forward-looking statements. Hardinge’s actual results or outcomes and the timing of certain events may differ significantly from those discussed in any forward-looking statements due to a variety of factors, including those described in Hardinge’s SEC reports, including its March 15, 2010 Form 10-K. Hardinge undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Hardinge notes that forward-looking statements made in connection with a tender offer are not subject to the safe harbors created by the Private Securities Litigation Reform Act of 1995. Hardinge is not waiving any other defenses that may be available under applicable law.

Contacts

Investors:
Hardinge Inc.
Ed Gaio, 607-378-4207
VP & Chief Financial Officer
or
Okapi Partners
Bruce H. Goldfarb / Patrick McHugh
212-297-0720 or 877-279-2311
or
Media:
Sard Verbinnen & Co
Denise DesChenes / Nat Garnick
212-687-8080
Permalink: http://www.businesswire.com/news/home/20100405005555/en/Hardinge%E2%80%99s-Board-Directors-Unanimously-Recommends-Rejection-Romi%E2%80%99s

MVIS news

Microvision Receives $8.5 Million Purchase Order for New PicoP Laser Projection Display Engine

REDMOND, Wash.--(BUSINESS WIRE)--Microvision (NASDAQ:MVIS), a leading developer of ultra-miniature projection display products, announced today that it has received an $8.5 million purchase order for its new ultra-miniature PicoP® laser projection display engine from a consumer electronics customer. The OEM plans to embed the PicoP engine inside a high-end mobile media player for release in late 2010 and plans to announce its launch at that time.

“This embedded application in a high-end mobile media player is part of our strategy to develop multiple premium distribution channels as we continue to advance the PicoP engine design and mature production capacity to meet anticipated demand across a variety of consumer electronic products including handsets.”

Microvision recently announced the completion and shipment of initial samples of its new display engine that incorporates a proprietary ASIC chipset half the original size and weight and that consumes one third less power than its predecessor while delivering uniformly bright, vivid color WVGA (848 X 480) images up to 200 inches. It also provides a 5000:1 contrast ratio – 5 times greater than other pico projector engines in the market today and is always in focus without the need for focusing dials or optics - an especially desirable benefit for mobile consumers.

“We are very pleased to receive the first purchase order for our new display engine,” said Alexander Tokman, President and CEO of Microvision. “This embedded application in a high-end mobile media player is part of our strategy to develop multiple premium distribution channels as we continue to advance the PicoP engine design and mature production capacity to meet anticipated demand across a variety of consumer electronic products including handsets.”

About Microvision (www.microvision.com)

Microvision provides the PicoP display technology platform designed to enable next-generation display and imaging products for pico projectors, vehicles displays, and wearable displays that interface to mobile devices. The company’s projection display engine uses highly efficient laser light sources which can create vivid images with high contrast and brightness. For more information, visit the company’s website (www.microvision.com) and corporate blog (www.microvision.com/displayground).

Forward-Looking Statements Disclaimer

Certain statements contained in this release, including those relating to OEM new product introduction are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the Company's forward-looking statements include the following: our ability to raise additional capital when needed; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; and potential product liability claims and other risk factors identified from time to time in the Company's SEC reports, including the Company's Annual Report on Form 10-K filed with the SEC. Except as expressly required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.

Contacts

Microvision
Media:
Matt Nichols, 206-940-4318
or
Maria Vetrano, 617-876-2770
or
Investors:
Tiffany Bradford, 425-936-6847
or

CNAM booyah!

COIN bid UT .87 x .92

COIN news out 10-k

Converted Organics Inc. Announces over $2.6 Million in Revenue

Shareholder Conference Call Scheduled to Review Business Developments

BOSTON--(BUSINESS WIRE)--Converted Organics Inc. (NASDAQ:COIN) announced today that the Company has filed its Form 10-K annual report with the Securities and Exchange Commission (SEC), announcing revenue of $2,634,000 for the year ended December 31, 2009.

“Converted Organics continues to be pleased with the progress of the Company”

"Converted Organics continues to be pleased with the progress of the Company," said Edward J. Gildea, President of Converted Organics. "We look forward to updating shareholders about the status of the business, including our recent acquisition activities."

Converted Organics' management will update shareholders on recent business developments in a conference call scheduled for 10:00 a.m. ET on Tuesday, April 6, 2010. Shareholders who wish to participate in the conference call may telephone (888) 567-1602 from the U.S. or (201) 604-5049 from international locations, approximately 15 minutes prior to the call. A digital replay will be available by telephone for two weeks and may be accessed by dialing (888) 632-8973 using digital replay code 47169167. The call will also be broadcasted simultaneously via a live webcast on the Converted Organics website at www.convertedorganics.com under the tab Investors and submenu Events & Presentations.

About Converted Organics Inc.

Converted Organics (NASDAQ: COIN, www.convertedorganics.com), based in Boston, MA, is dedicated to producing high-quality, all-natural, organic fertilizer products through food waste recycling.

This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors, not all of which are known to the company, described in the "Risk Factors" section in the company's most recently filed annual report on Form 10-K, as updated in the company's quarterly reports on Form 10-Q filed since the annual report and most recently in the registration statement filed in relation to this offering. Neither the company nor any other person assumes responsibility for the accuracy or completeness of these statements. The company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.

COIN-G

Contacts

PR Financial Marketing
Investor Contact:
Jim Blackman, 713-256-0369
jim@prfmonline.com
or
Sterling Communications
Public Relations Contact:
Pat Fiaschetti, 908-996-7945
sterling.pf@att.net

RGDX news AH

Response Genetics, Inc. Reports Full Year 2009 and Fourth Quarter Financial Results

Fourth Quarter ResponseDX™ Revenue Increases 81 Percent from Third Quarter 2009

LOS ANGELES--(BUSINESS WIRE)--Response Genetics, Inc. (Nasdaq: RGDX), a company focused on the development and sale of molecular diagnostic tests for cancer, today announced consolidated financial results for the fourth quarter and year ended December 31, 2009, as well as an update on the Company’s ResponseDX™ sales activities.

“2009 was a very exciting year for Response Genetics as we saw significant growth and acceptance of our ResponseDX™ diagnostic tests. This trend has continued into 2010, with approximately 800 tests sold in March alone”

“2009 was a very exciting year for Response Genetics as we saw significant growth and acceptance of our ResponseDX™ diagnostic tests. This trend has continued into 2010, with approximately 800 tests sold in March alone,” said Kathleen Danenberg, Response Genetics president and CEO. “We continue to execute on our successful growth strategy; expanding our sales force, strengthening our balance sheet and establishing an international distribution network. For the coming year, we look forward to building on the momentum we have gained to further increase sales of our diagnostic tests and to advance our pipeline of products.”

Corporate Development Highlights

* ResponseDX™ Test Sales Continue to Ramp – Approximately 1,700 ResponseDX™ genetic tests were ordered in the fourth quarter of 2009. Revenue recorded from ResponseDX™ products increased 81 percent to $1.7 million in the fourth quarter of 2009, compared to $0.9 million in the third quarter of 2009. The Company continues to record revenues primarily on a cash basis from certain insurance providers until collection patterns are better determined. Cash collections continue to increase and we expect the cash associated with the majority of the tests processed during the fourth quarter of 2009 will be collected during the first quarter of 2010.
* Expanded Sales and Distribution – Response Genetics continued to expand its national sales force to meet demand for its Response DX™ tests, from three sales people in January 2009 to 15 currently. Company operations have seamlessly kept pace with the increased volume of ResponseDX™ tests to maintain the Company’s five-to-seven-day turnaround time. Response Genetics also established an international presence through a distribution partnership with Genetic Technologies, the largest private laboratory in Australia. ResponseDX™ tests are now available in Australia and certain Asian countries.

* Increased Reimbursement Due to Expanded ResponseDX™ Panels – With the addition of epidermal growth factor receptor (EGFR) mutational analysis, reimbursement of the Company’s ResponseDX: Lung™ panel increased from approximately $1,000 to $1,950, and ResponseDX: Colon™ test from approximately $950 to $1,100 with the addition of EGFR mutational analysis and BRAF mutational analysis. Approximately 50 percent of our ResponseDX™ revenue in 2009 was derived from our expanded ResponseDX: Lung™ panel. Response Genetics’ flexible technology allows the addition of new analytic capabilities as genes associated with therapeutic benefit to chemotherapy agents are identified.
* New ResponseDX™ Panel Launched Nationally – In September 2009, Response Genetics announced the nation-wide availability of its newest test panel, ResponseDX: Gastric™, a proprietary PCR-based diagnostic test that quantitatively analyzes three key genes – ERCC1, TS and HER2 – in tumors to help physicians make treatment decisions for patients with gastric cancer and gastroesophageal (GE) junction cancer. This new ResponseDX™ test is a product of the Company’s R&D pipeline and underscores its product development capabilities.
* $4 Million Private Placement – On March 5, 2010, Response Genetics entered into an agreement with funds managed by Lansdowne Partners Limited Partnership, Greenway Capital Partners and Paragon Associates whereby approximately $4 million was raised from a private placement of approximately 3 million newly issued shares of its common stock. Additionally, the Company announced two separate purchase agreements in 2009 with certain new and existing investors and raised a total of approximately $6 million. These funds are to be used by the Company to facilitate its sales goals and to expand its ResponseDX™ product offerings.
* Data Presented at ASCO and WCLC – At the annual meeting of the American Society of Clinical Oncology in Orlando, Response Genetics announced the results of studies identifying genes associated with positive chemotherapy outcome and tumor recurrence. And at the 13th World Conference on Lung Cancer in San Francisco, Response Genetics announced the results of separate analyses of KRAS gene mutations and TS and RRM1 gene expression in non-small cell lung cancer (NSCLC). These results, which were presented by Dr. David R. Gandara, University of California, Davis Cancer Center, and Dr. Philip Mack, University of California, Davis, provided insights into which patients are most likely to benefit from the commonly prescribed chemotherapies.

Financial Results for the Fourth Quarter Ended December 31, 2009

Total revenue increased by 134 percent to $3.4 million for the fourth quarter ended December 31, 2009, compared to $1.4 million for the same period last year. Revenue from our ResponseDX™ genetic tests, which we started to sell in the third quarter of 2008, increased to $1.7 million for the fourth quarter ended December 31, 2009, compared to $0.2 million for the same period in 2008. Our pharmaceutical client revenue increased 38 percent to $1.7 million, compared to $1.3 million in the fourth quarter of 2008.

Cost of revenue for the fourth quarter ended December 31, 2009 was $1.8 million, compared with $0.9 million for the same period ended 2008. Research and development expenses were $0.6 million for the fourth quarter of 2009, compared with $0.4 million for the same period in the prior year. General and administrative expenses were $1.6 million for the fourth quarter ended December 31, 2009, compared with $1.8 million for the same period in 2008. Selling and marketing costs primarily related to the expansion of our ResponseDX™ tests totaled $1.1 million compared with $0.4 million for the same period in the prior year. Total operating expenses for the fourth quarter of 2009 were $5.1 million, compared with $4.9 million for the same period last year. Included in total operating expenses were costs related to the continued expansion of the Company’s ResponseDX™ tests, and its costs related to marketing and its sales force additions, which totaled $1.1 million for the fourth quarter. The increase in total operating expenses in the fourth quarter of 2009 were offset by lower costs of $1.4 million for the operations of our United Kingdom laboratory due to the closure of that facility in March 2009.

Response Genetics’ net loss for the fourth quarter ended December 31, 2009 was $1.7 million, or $0.11 per share, compared with a net loss of $3.4 million, or $0.33 per share, for the same period last year.

Financial Results for the Year Ended December 31, 2009

Total revenue was $9.1 million for the year ended December 31, 2009, compared to $7.1 million for the year ended December 31, 2008, an increase of 28 percent. Revenue from our ResponseDX™ genetic tests totaled approximately $3.3 million. Our pharmaceutical client revenue decreased 16 percent to $5.8 million. As previously announced, this decrease was primarily due to a delay in the receipt of clinical samples from one of our major pharmaceutical clients, which the Company anticipates receiving in subsequent quarters through 2010.

Cost of revenue for the year ended December 31, 2009 was $5.7 million, compared with $4.0 million for the year ended December 31, 2008. Research and development expenses were $2.3 million for the year ended December 31, 2009, compared with $2.1 million for the year ended December 31, 2008. General and administrative expenses were $6.1 million for the year ended December 31, 2009, compared with $6.7 million for the year ended December 31, 2008. Selling and marketing costs primarily related to the expansion of our ResponseDX™ tests totaled $3.6 million for the year ended December 31, 2009 compared with $0.9 million for the same period in the prior year. Total costs for our now closed United Kingdom laboratory decreased to $0.7 million for the year ended December 31, 2009 compared to $3.4 million for the same period in 2008. Total operating expenses for the year ended December 31, 2009 were $18.5 million, compared with $17.0 million for the year ended December 31, 2008. The primary reasons for the increase in total operating expenses were costs related to the continued expansion of the Company’s ResponseDX™ tests and its sales force additions, which totaled $3.6 million for the year ended December 31, 2009. These expenses were offset by lower costs of 2.6 million for the operations of our United Kingdom lab due to the closure of that facility.

Response Genetics’ net loss for the twelve months ended December 31, 2009 was $9.3 million or $0.70 per share, compared with a net loss of $9.5 million, or $0.93 per share, for the same period last year.

Cash and Cash Equivalents

Cash and cash equivalents at December 31, 2009, were $7.1 million, compared to $9.5 million at December 31, 2008. As previously announced, Response Genetics completed a private placement of approximately 3.0 million newly issued common shares at a per-share price of $1.31. The Company received net proceeds of approximately $4.0 million from this private placement on March 5, 2010.

Reclassifications

Prior year amounts in the consolidated financial statements have been reclassified to conform to the current year presentation. Reclassified amounts had no impact on the Company’s net operating results.

About Response Genetics, Inc.

Response Genetics, Inc. (“RGI”) (the “Company”) (Nasdaq: RGDX) is engaged in the research and development of pharmacogenomic cancer diagnostic tests based on its proprietary and patented technologies. RGI’s technologies enable extraction and analysis of genetic information from genes derived from tumor samples stored as formalin-fixed and paraffin-embedded specimens. In addition to diagnostic testing services, RGI generates revenue from the sales of its proprietary analytical pharmacogenomic testing services of clinical trial specimens to the pharmaceutical industry. The Company was founded in 1999 and its principal headquarters are located in Los Angeles, California. For more information, please visit www.responsegenetics.com.

Forward-Looking Statement Notice

Except for the historical information contained herein, this press release and the statements of representatives of RGI related thereto contain or may contain, among other things, certain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.

Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company’s plans, objectives, projections, expectations and intentions, such as the ability of the Company to analyze cancer samples, the potential for using the results of this research to develop diagnostic tests for cancer, the usefulness of genetic information to tailor treatment to patients, the ability of the Company to expand its ResponseDX: Lung™ and ResponseDX: Colon™ test availability, the ability of the Company to continue to offer its ResponseDX Gastric™ tests, the ability of the Company to maintain or receive increased reimbursement of its tests, the ability of the Company to expand its sales force, the ability to continue to ramp the sales of ResponseDX and other statements identified by words such as “projects,” “may,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans” or similar expressions.

These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission. Actual results, including, without limitation, actual sales results, if any, or the application of funds, may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). The Company undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise, except as required by law.

RESPONSE GENETICS, INC.


CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS



Three Months Ended

December 31,
Year Ended

December 31,



2008


2009
2008 2009


(Unaudited)


(Unaudited)

Net revenue $ 1,441,362 $ 3,371,695 $ 7,124,771 $ 9,066,683
Operating expenses:
Cost of revenue 867,518 1,822,696 3,965,888 5,720,825
Selling and marketing 352,623 1,113,693 878,706 3,621,030
General and administrative 1,811,552 1,632,424 6,679,992 6,085,628
UK operating expenses 1,431,685 18,617 3,371,513 752,901
Research and development 433,044 559,080 2,088,832 2,293,303
Total operating expenses 4,896,422 5,146,510 16,984,931 18,473,687
Operating loss (3,455,060 ) (1,774,815 ) (9,860,160 ) (9,407,004 )
Other income (expense):
Interest expense (848 ) (2,623 ) (3,875 ) (10,822 )
Interest income 55,276 108 374,659 22,265
Other (5,219 ) 49,718 (8,911 ) 49,718
Loss before income taxes (3,405,851 ) (1,727,612 ) (9,498,287 ) (9,345,843 )
Provision for income taxes (12,749 ) (4,788) (12,749 ) (4,788)
Net loss $ (3,393,102 ) $ (1,722,824 ) $ (9,485,538 ) $ (9,341,055 )
Unrealized loss on foreign currency translation - 10,642 - 46,350
Total comprehensive loss $ (3,393,102 ) $ (1,712,182 ) $ (9,485,538 ) $ (9,294,705 )
Net loss per share — basic and diluted $ (0.33 ) $ (0.11 ) $ (0.93 ) $

(0.70
)
Weighted-average common shares — basic and diluted

10,239,276
15,297,183 10,239,276 13,276,095


Contacts

Trout Group
Investor Relations:
Peter Rahmer, 646-272-8526
or
Fleishman-Hillard
Media Relations:
Barry Sudbeck, 415-318-4261

ANGO earnings news AH

AngioDynamics Reports Fiscal Third Quarter 2010 Results

* Net Sales Increase 6% to $52.2 million
* NanoKnife® IRE System Net Sales of $724,000
* Net Income of $3.3 Million, or $0.13 EPS
* Operating Cash Flow of $11.4 Million
* Company Reiterates Fiscal 2010 Guidance
* Conference Call Begins Today at 4:30 p.m. Eastern Time

ALBANY, N.Y.--(BUSINESS WIRE)--AngioDynamics (NASDAQ:ANGO), a leading provider of innovative medical devices for the minimally-invasive treatment of cancer and peripheral vascular disease, today reported financial results for the fiscal third quarter ended February 28, 2010.

“Our third quarter results were driven by continued revenue growth in our Oncology/Surgery and Peripheral Vascular businesses, offset by market pricing pressure and delayed product launches in our Access business”

Net sales in the third quarter totaled $52.2 million, a 6% increase over the $49.4 million reported for the third quarter last year. Oncology/Surgery sales increased 19% to $13.7 million from the third quarter a year ago and included $724,000 in NanoKnife® IRE System sales. Year-to-date NanoKnife IRE System sales totaled $1.5 million. Peripheral Vascular sales grew 8% from the third quarter a year ago to $22.4 million. Access sales were $16.1 million in the quarter, a decrease of 6% from the third quarter a year ago.

Gross margin was 58.0% compared with 61.1% a year ago, with the decline primarily attributable to lower selling prices for certain Access and Peripheral Vascular products due to a competitive pricing environment and higher material costs for certain Access products. Operating income was $5.6 million in the quarter compared with $2.6 million a year ago, which included $2.8 million in costs associated with the CEO transition. Net income was $3.3 million, or $0.13 per share, compared with $1.9 million, or $0.08 per share, a year ago.

The Company generated $11.4 million in cash flow from operations in the third quarter. At February 28, 2010, cash and investments totaled $85.8 million, and long-term debt was $6.6 million.

For the nine months ended February 28, 2010, net sales were $155.8 million, a 10% increase over the $142.2 million reported for the prior year period; gross margin was 59.1% compared with 61.4% for the prior year; operating income was $14.5 million compared with $11.3 million for the prior year; and net income was $8.6 million, or $0.35 per share, compared with $7.0 million, or $0.29 per share, last year.

“Our third quarter results were driven by continued revenue growth in our Oncology/Surgery and Peripheral Vascular businesses, offset by market pricing pressure and delayed product launches in our Access business,” said Jan Keltjens, President and CEO. “We are pleased with the revenue generated by our NanoKnife IRE System in its second quarter of commercial launch. Our IRE technology continues to gain clinician interest and five hospitals acquired the system this quarter. In addition, we are also pleased with the increasing strength of our Varicose Vein business, as well as the performance of our recently launched new Micro-Introducer product line.

“In the face of the difficult pricing environment for some of our products, we have managed operating expenses tightly to offset the resulting pressure on gross margins, thereby preserving operating profitability and margin,” Mr. Keltjens continued. “New product launches, sales momentum in Peripheral Vascular and Oncology, strong expense management and the impact of operational improvements position us for continued growth in fiscal 2010 and we expect sequential improvement in our gross margin in the fiscal fourth quarter. In addition, today we are reiterating our overall guidance for the year.”

Highlights of the quarter, and more recent activities, include the following:

* The strong market response to AngioDynamics’ NanoKnife IRE System commercial sales program continued as physicians at numerous institutions treated an additional 50 patients since early January. The total number of patients treated to date with the NanoKnife system at 11 centers now stands at 154. Procedures have been performed in many organs, including prostate, liver, lung, and pancreas.
* The protocol for an international pilot study of the use of the NanoKnife IRE System in the treatment of early stage hepatocellular carcinoma was approved and patient recruitment has started. This study, titled “A Prospective, Multi-Center, Clinical Trial Using Irreversible Electroporation (IRE) for the Treatment of Early-Stage Hepatocellular Carcinoma (HCC),” is being conducted under the supervision of Dr. Riccardo Lencioni of the University of Pisa School of Medicine and Dr. Jordi Bruix of the Barcelona Liver Cancer Group of the University of Barcelona. Updates on the status of the study can be found at www.clinicaltrials.gov.
* A book titled “Irreversible Electroporation” was recently published by Springer Berlin Heidelberg. It is edited by Boris Rubinsky, a Professor of the Graduate School at the University of California, Berkeley. The book’s chapters include one by the book’s editor and Dr. Gary Onik of the School of Medicine at the University of Central Florida, titled, ‘Irreversible Electroporation: First Patient Experience Focal Therapy of Prostate Cancer,’ and another by Dr. Kenneth Thomson of The Alfred hospital in Melbourne Australia titled, ‘Human Experience with Irreversible Electroporation.’
* AngioDynamics entered into a Fourth Amendment of the Company’s April 2006 agreement with Biocompatibles UK Limited under which AngioDynamics’ exclusive US distribution rights to the embolization product, LC Bead™, were extended to December 31, 2011.
* The new Centros® self-centering, chronic hemodialysis access catheter was introduced. Using Curved Tip™ Catheter Technology, Centros is designed to reduce clots and sheathing by preventing contact between the catheter tips and vascular wall.
* The Benephit® PROVIDE registry has made substantial progress and is actively enrolling patients. As of today, 18 patients have been enrolled at six sites, and additional sites are expected to begin enrolling patients in the near future. PROVIDE is an independently managed clinical registry designed to gather data from interventional radiologists, nephrologists and surgeons on the clinical use of the Benephit catheter for Targeted Renal Therapy from approximately 1,000 patients during the next year.

Fiscal 2010 Guidance

The Company’s outlook for fiscal 2010 remains unchanged from its last update on January 5, 2010, and is as follows:

* Net sales in the range of $214 million to $217 million, an increase of 10-11% over fiscal 2009 net sales
* Gross margin in the range of 59-60% of net sales
* GAAP operating income in the range of $19 million to $21 million
* EBITDA in the range of $31 million to $33 million
* GAAP EPS in the range of $0.46 to $0.48, inclusive of a $0.24 EPS impact from IRE investments

Conference Call

AngioDynamics management will host a conference call to discuss its fiscal third quarter results today beginning at 4:30 p.m. Eastern Time. To participate in the live call by telephone, please dial 1 (800) 762-8779.

In addition, individuals can listen to the call on the Internet by visiting the investor relations portion of the AngioDynamics Web site at http://investors.angiodynamics.com. To listen to the live call, please go to the Web site 15 minutes prior to its start to register, download and install the necessary audio software. In addition, a replay of the call will be available at http://investors.angiodynamics.com.

Use of Non-GAAP Measures

Management uses non-GAAP measures to establish operational goals, and believes that non-GAAP measures may assist investors in analyzing the underlying trends in AngioDynamics’ business over time. Investors should consider these non-GAAP measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. In this news release, AngioDynamics has reported non-GAAP EBITDA (income before interest, taxes, depreciation and amortization). Management uses this measure in its internal analysis and review of operational performance. Management believes that this measure provides investors with useful information in comparing AngioDynamics’ performance over different periods. By using this non-GAAP measure, management believes that investors get a better picture of the performance of AngioDynamics’ underlying business. Management encourages investors to review AngioDynamics’ financial results prepared in accordance with GAAP to understand AngioDynamics’ performance taking into account all relevant factors, including those that may only occur from time to time but have a material impact on AngioDynamics’ financial results. Please see the tables that follow for a reconciliation of Operating Income to non-GAAP measures.

About AngioDynamics

AngioDynamics, Inc. (“AngioDynamics” or the “Company”) is a leading provider of innovative medical devices used by interventional radiologists, surgeons and other physicians for the minimally-invasive treatment of cancer and peripheral vascular disease. The Company’s diverse product lines include market-leading radiofrequency and irreversible electroporation ablation systems, vascular access products, angiographic products and accessories, dialysis products, angioplasty products, drainage products, thrombolytic products, embolization products and venous products. More information is available at www.angiodynamics.com.

Safe Harbor

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics’ expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as “expects,” “reaffirms” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” or variations of such words and similar expressions, are forward-looking statements. These forward looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ from AngioDynamics’ expectations. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the ability of AngioDynamics to develop its existing and new products, future actions by the FDA or other regulatory agencies, results of pending or future clinical trials, overall economic conditions, the results of on-going litigation, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of AngioDynamics to integrate purchased businesses, as well as the risk factors listed from time to time in AngioDynamics’ SEC filings, including but not limited to its Annual Report on Form 10-K for the year ended May 31, 2009. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.

In the United States, NanoKnife has been cleared by the FDA for use in the surgical ablation of soft tissue. This document may discuss the use of NanoKnife for specific clinical indications for which it is not cleared in the United States at this time.

ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS
(in thousands, except per share data)



Three months ended Nine months ended
Feb 28, Feb 28, Feb 28, Feb 28,
2010 2009 2010 2009
(unaudited) (unaudited)

Net sales $ 52,207 $ 49,447 $ 155,758 $ 142,234
Cost of sales 21,934 19,225 63,746 54,862
Gross profit 30,273 30,222 92,012 87,372
% of net sales 58.0 % 61.1 % 59.1 % 61.4 %

Operating expenses
Research and development 4,289 4,692 13,901 13,079
Sales and marketing 14,032 13,906 44,433 41,516
General and administrative 4,075 3,830 12,183 11,578
CEO Transition Costs - 2,841 - 3,041
Amortization of intangibles 2,284 2,323 7,007 6,816
Total operating expenses 24,680 27,592 77,524 76,030
Operating income 5,593 2,630 14,488 11,342
Other income (expense), net (233 ) 93 (688 ) (658 )
Income before income taxes 5,360 2,723 13,800 10,684
Provision for income taxes 2,027 811 5,227 3,654
Net income $ 3,333 $ 1,912 $ 8,573 $ 7,030

Earnings per common share
Basic $ 0.14 $ 0.08 $ 0.35 $ 0.29
Diluted $ 0.13 $ 0.08 $ 0.35 $ 0.29

Weighted average common shares
Basic 24,622 24,366 24,523 24,342
Diluted 24,867 24,484 24,722 24,501


ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS
(in thousands, except per share data)



Reconciliation of Operating Income to non-GAAP EBITDA:

Three months ended Nine months ended
Feb 28, Feb 28, Feb 28, Feb 28,
2010 2009 2010 2009
(unaudited) (unaudited)

Operating income $ 5,593 $ 2,630 $ 14,488 $ 11,342

Amortization of intangibles 2,284 2,323 7,007 6,816
Depreciation 753 709 2,249 1,998
EBITDA $ 8,630 $ 5,662 $ 23,744 $ 20,156

EBITDA per common share
Basic $ 0.35 $ 0.23 $ 0.97 $ 0.83
Diluted $ 0.35 $ 0.23 $ 0.96 $ 0.82

Weighted average common shares
Basic 24,622 24,366 24,523 24,342
Diluted 24,867 24,484 24,722 24,501
ANGIODYNAMICS, INC. AND SUBSIDIARIES
NET SALES BY BUSINESS UNIT AND BY GEOGRAPHY
(in thousands)


Three months ended Nine months ended
Feb 28, Feb 28, Feb 28, Feb 28,
2010 2009 2010 2009
(unaudited) (unaudited)

Net Sales by Business Unit
Peripheral Vascular $ 22,412 $ 20,743 $ 66,639 $ 60,947
Access 16,087 17,176 48,994 48,931
Oncology/Surgery 13,708 11,528 40,125 32,356
Total $ 52,207 $ 49,447 $ 155,758 $ 142,234


Net Sales by Geography
United States $ 46,380 $ 44,074 $ 138,781 $ 126,262
International 5,827 5,373 16,977 15,972
Total $ 52,207 $ 49,447 $ 155,758 $ 142,234
ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands)



Feb 28, May 31,
2010 2009
(unaudited)

(2)



Assets
Current Assets
Cash and cash equivalents $ 37,513 $ 27,909
Marketable securities 48,265 40,278
Total cash and investments 85,778 68,187

Receivables, net 26,536 27,181
Inventories, net 34,115 36,928
Deferred income taxes 6,049 9,337
Prepaid income taxes 3,986 3,694
Prepaid expenses and other 1,887 3,271
Total current assets 158,351 148,598

Property, plant and equipment, net 23,293 22,183
Intangible assets, net 60,738 67,770
Goodwill 161,974 161,974
Deferred income taxes 2,641 4,263
Other non-current assets 5,298 3,915
Total Assets $ 412,295 $ 408,703

Liabilities and Stockholders' Equity
Current portion of long-term debt $ 255 $ 265
Contractual payments on acquisition of business, net - 5,227
Other current liabilities 18,515 24,207
Long-term debt, net of current portion 6,615 6,810
Total Liabilities 25,385 36,509

Stockholders' equity 386,910 372,194
Total Liabilities and Stockholders' Equity $ 412,295 $ 408,703

Shares outstanding 24,725 24,428


(2) Derived from audited financial statements
ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)


Nine months ended
Feb 28, Feb 28,
2010 2009
(unaudited) (unaudited)

Cash flows from operating activities:
Net income $ 8,573 $ 7,030
Depreciation and amortization 9,256 8,814
Tax effect of exercise of stock options (145 ) (104 )
Deferred income taxes 4,943 2,438
Stock-based compensation 3,672 4,508
Other (652 ) 912
Changes in operating assets and liabilities
Receivables 713 1,198
Inventories 3,170 (6,444 )
Accounts payable and accrued liabilities (5,708 ) 1,704
Litigation provision - (6,757 )
Other (8 ) (259 )
Net cash provided by operating activities 23,814 13,040

Cash flows from investing activities:
Additions to property, plant and equipment (3,394 ) (3,472 )
Acquisition of intangible assets and businesses (5,342 ) (17,078 )
Change in restricted cash - 68
Purchases, sales and maturities of marketable securities, net (8,185 ) 10,516
Net cash provided by (used in) investing activities (16,921 ) (9,966 )

Cash flows from financing activities:
Repayment of long-term debt (205 ) (9,955 )
Proceeds from exercise of stock options and ESPP 2,934 1,765
Net cash provided by (used in) financing activities 2,729 (8,190 )

Effect of exchange rate changes on cash (18 ) (148 )
Increase (Decrease) in cash and cash equivalents 9,604 (5,264 )

Cash and cash equivalents
Beginning of period 27,909 32,040
End of period $ 37,513 $ 26,776

Contacts

AngioDynamics, Inc.
D. Joseph Gersuk, CFO, 800-772-6446 ext. 1608
jgersuk@AngioDynamics.com
or
EVC Group, Inc.
Doug Sherk or Jenifer Kirtland, 415-896-6820 (Investor Relations)
dsherk@evcgroup.com
jkirtland@evcgroup.com
or
Chris Gale, 646-201-5431 (Media)
cgale@evcgroup.com

Permalink: http://www.businesswire.com/news/home/20100331006679/en/AngioDynamics-Reports-Fiscal-Quarter-2010-Results
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NASDAQ:ANGO

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Business Wire

BPSG news AH

Broadpoint.Gleacher Announces Corporate Changes

Firm to Be Renamed Gleacher & Company

Robert Turner resigns as CFO, Jeffrey Kugler named Acting CFO

Company plans to reincorporate in Delaware

NEW YORK--(BUSINESS WIRE)--Broadpoint Gleacher Securities Group, Inc. (NASDAQ: BPSG) today announced that its Board of Directors has voted to rename the Company “Gleacher & Company, Inc.” and to reincorporate in Delaware. The Company plans to submit these proposals to its shareholders at its 2010 Annual Meeting of Shareholders scheduled for May 27, 2010. In addition, the Company announced today that Jeffrey Kugler, the Controller of the Company’s principal broker-dealer subsidiary, Broadpoint Capital, Inc., has been named Acting Chief Financial Officer following the resignation of Robert Turner from the firm. The Company is conducting a search to find a permanent Chief Financial Officer and will consider both internal and external candidates.

“I want to offer my sincere thanks to Rob Turner for helping to build our finance and administrative functions. We wish him all the best with his future endeavors.”

Eric Gleacher, Chairman and Chief Executive Officer, said, “Our firm has grown substantially over the last two years and there continues to be unprecedented opportunities to further expand and grow. Our culture is based on teamwork and our team is clearly focused on capitalizing on the opportunities that exist in the market today.” Mr. Gleacher also said, “I want to offer my sincere thanks to Rob Turner for helping to build our finance and administrative functions. We wish him all the best with his future endeavors.”

Peter McNierney, President and Chief Operating Officer, said, “Growth in our advisory and capital markets origination businesses is key to our success in 2010 and over the long-term. The Gleacher name has been synonymous with high-quality investment banking services for over 30 years and is the strongest brand for us to unify under in marketing to our clients.”

Mr. Kugler has been Controller and Chief Operations Officer of Broadpoint Capital, Inc. since March 2008. He has over 20 years of experience in the securities and financial services industries. Mr. Kugler received his B.A. from Rutgers University and is a registered C.P.A. in the states of New York and New Jersey.

About Broadpoint.Gleacher

Broadpoint Gleacher Securities Group, Inc. (NASDAQ: BPSG) is an independent investment bank that provides corporations and institutional investors with strategic, research-based investment opportunities, capital raising, and financial advisory services, including merger and acquisition, restructuring, recapitalization and strategic alternative analysis services. The Company offers a diverse range of products through the Debt Capital Markets, Investment Banking and Broadpoint DESCAP divisions of Broadpoint Capital, Inc., its Equity Capital Markets subsidiary, Broadpoint AmTech, and FA Technology Ventures Inc., its venture capital subsidiary. For more information, please visit www.bpsg.com.

Forward Looking Statements

This press release contains "forward-looking statements." These statements are not historical facts but instead represent the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. The Company's forward-looking statements are subject to various risks and uncertainties, including the conditions of the securities markets, generally, and acceptance of the Company's services within those markets and other risks and factors identified from time to time in the Company's filings with the Securities and Exchange Commission. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in its forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake to update any of its forward-looking statements.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

This press release is not a substitute for the proxy statement that the Company intends to file with the SEC. In connection with the Company name change and reincorporation in Delaware, the Company will prepare a proxy statement for the Company’s shareholders. When completed, a definitive proxy statement and form of proxy will be filed with the SEC and mailed to the Company’s shareholders of record. BEFORE MAKING ANY VOTING DECISION, THE COMPANY’S SHAREHOLDERS ARE ADVISED TO CAREFULLY READ THE PRELIMINARY PROXY STATEMENT AND THE DEFINITIVE PROXY STATEMENT, WHEN AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PROPOSALS TO BE ACTED UPON AT THE COMPANY’S ANNUAL MEETING. The Company’s stockholders may obtain a free copy of the preliminary proxy statement and the definitive proxy statement (when available) and other documents filed by the Company with the SEC at the SEC’s website at www.sec.gov. The Company’s shareholders may also obtain a free copy of the preliminary proxy statement and definitive proxy statement (when available) and such other documents by visiting the Company’s website at www.bpsg.com under the heading “Investor Relations – Proxy” or by directing such request to Broadpoint Gleacher Securities Group, Inc., 12 East 49 th Street, 31 st Floor, New York, New York, 10017, Attn: Corporate Secretary.

The Company and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed name change and reincorporation. Information concerning the Company and its directors and executive officers will be set forth in the Company’s proxy statement.
Contacts

Investor
Broadpoint Gleacher Securities Group, Inc.
Peter McNierney, 212-273-7100
President and Chief Operating Officer
or
Media
Halldin Public Relations
Ray Young, 916-781-0659
ray@halldinpr.com

ARQL/OXGN moving pre-market

Rite Aid Reports 0.1 Percent Same Store Sales Decrease for March

CAMP HILL, Pa.--(BUSINESS WIRE)--Rite Aid Corporation (NYSE: RAD) today announced sales results for March.

Monthly Sales

For the four weeks ended March 27, 2010, same store sales decreased 0.1 percent over the prior-year period. Front end same store sales increased 1.8 percent, positively impacted by an earlier Easter (April 4, 2010 versus April 12, 2009). Pharmacy same store sales, which included an approximate 189 basis points negative impact from new generic introductions, declined 1.0 percent. Prescriptions filled at comparable stores decreased 1.3 percent over the prior-year period.

Total drugstore sales for the four-week period decreased 1.4 percent to $1.968 billion compared to $1.996 billion for the same period last year. Prescription revenue accounted for 68.7 percent of drugstore sales, and third party prescription revenue represented 96.3 percent of pharmacy sales.

Rite Aid is one of the nation’s largest drugstore chains. On March 27, 2010, the company operated 4,777 stores compared to 4,882 stores in the like period a year ago. Information about Rite Aid, including corporate background and press releases, is available through the company’s website at http://www.riteaid.com.

Contacts

Rite Aid Corporation
INVESTORS:
Matt Schroeder
(717) 214-8867
or investor@riteaid.com
or
MEDIA:
Karen Rugen
(717) 730-7766

CPQQ earnings

China Power Equipment Reports Higher Revenues and Net Income
Last update: 3/31/2010 7:30:00 AM
XI'AN, China, March 31, 2010 /PRNewswire via COMTEX/ -- China Power Equipment, Inc. ("China Power Equipment" or the "Company") (CPQQ), the manufacturer of a new generation of energy saving electric transformers and transformer cores in the People's Republic of China, today reported higher revenues and net income for the year ended December 31, 2009.

Year 2009 Highlights -- Net revenues increased 154.0% to $23.87 million in 2009 from $9.39 million in 2008. -- Gross profit increased 143.1% to $5.70 million in 2009 from $2.34 million in 2008. -- Net income increased 190.0% to $4.22 million in 2009 from $1.46 million in 2008. -- Diluted earnings per common share decreased 357.1% to $(0.32) per share in 2009 from $(0.07) per share in 2008, mainly due to a deemed dividend from the beneficial conversion feature of preferred stock and higher average common shares outstanding.

Net revenues increased $14.47 million or 154.0 percent to $23.87 million for the year ended December 31, 2009 from $9.39 million in the year 2008, mainly due to higher volumes of amorphous alloy cores and transformers sold. Net income increased $2.76 million or 190.0 percent to $4.22 million in 2009 from $1.46 million in 2008, mainly due to the higher revenues and continuing good control of expenses. Diluted earnings per share decreased 357.1 percent to $(0.32) per common share in 2009 from $(0.07) per share in 2008, mainly due to a deemed dividend from the beneficial conversion feature of preferred stock and higher average common shares outstanding that increased 35.1 percent in 2009 from 2008.
Mr. Yong Xing Song, Chairman of the Board of China Power Equipment, said, "Our strong increases in revenues and net income for the year 2009 reflect the high demand in the Chinese market for our energy-efficient amorphous alloy electric transformer equipment."
Looking at the company's products, revenues from amorphous alloy cores were up $10.84 million or 202.1 percent to $16.21 million in 2009 from $5.37 million in 2008. Revenues from amorphous alloy transformers were up $4.05 million or 115.4 percent to $7.56 million in 2009 from $3.51 million in 2008. Revenues from traditional silicon steel transformers and cores were down $0.42 million or (81.1) percent to $0.10 million in 2009 from $0.52 million in 2008 because the Company exited that business entirely in 2009.
To help fulfill the large increase in customers' orders for amorphous alloy transformers and cores, the Company subcontracted out some of the production to another manufacturer in 2009.
Operating expenses remained under good control, with its gross profit margin declining just 1 percentage point to 23.9 percent in 2009 from 24.9 percent in 2008 on somewhat higher prices for its primary raw material. The Company's operating profit margin increased to 18.9 percent in 2009 from 16.7 percent in 2008.
Total other income increased $0.32 million or 197.4 percent to $0.48 million in 2009 from $0.16 million in 2008, mainly due to higher consulting income for technical support work performed in 2009 that was not offered in 2008 and due to lower interest expense on lower average borrowings in 2009 compared with 2008. The Company's effective income tax rate was down a little to 15.3 percent in 2009 from 15.7 percent in 2008.
As a result, China Power Equipment's net income increased $2.76 million or 190.0 percent to $4.22 million in 2009 from $1.46 million in 2008. Its net profit margin improved to 17.68 percent in 2009 from 15.50 percent in 2008.
Net cash flow provided by operating activities was $5.38 million in 2009, net cash flow used in investing activities was $(2.51) million, mostly in support of capacity expansion, and net cash flow provided from financing activities was $4.94 million, with nearly all of that provided by the net proceeds the Company received from issuing preferred stock in 2009. Adding in a small cash flow benefit due to foreign currency exchange rate changes, China Power Equipment's net cash flow in 2009 resulted in a net increase in cash of $7.81 million. The Company's cash outstanding on December 31, 2009 was $8.88 million.
The Company's debt leverage at yearend 2009 was very modest at 0.3 percent, since it had only one small interest-bearing note payable.
Mr. Song continued, "I believe our results in 2009 represent a very good performance in a very high growth year. With our good cash position, internal cash generation, modest debt leverage, and financing flexibility, we believe we have sufficient financial strength to continue to invest in new product development, capacity expansion, and working capital to support good sales growth in our amorphous alloy cores and amorphous alloy transformers."
Mr. Song continued, "We expect that a new source of amorphous alloy strip will soon be available from Beijing Advanced Technology & Science Materials Co., Ltd. ("AT&M"). We have signed an agreement with AT&M in which we have been given priority to purchase amorphous alloy strip products.
"In September 2009, AT&M completed their test production of amorphous alloy strip, using their facility that has an annual capacity of 10,000 metric tons. We have used some of AT&M's test strip to manufacture test cores and transformers and are pleased to be the first company to do so. Our test cores and transformers are permitting electric power grid organizations and other transformer makers to test and to validate that our cores and transformers using AT&M's amorphous alloy will perform as expected, are essentially equivalent in quality and performance to production that uses Hitachi's amorphous alloy, and are qualified for production purchases. We believe that this second source for amorphous alloy strip, when approved for production, is likely to help alleviate the raw material constraint that has been a concern in the global transformer industry. AT&M's alloy is likely to be quite cost competitive and may accelerate the use of amorphous alloy transformers by China's electric power grid companies."
Mr. Song concluded, "China's economic outlook continues to be encouraging, and China's adoption of amorphous alloy electric transformers in both urban and rural areas appears to be increasing at an increasing rate. As a result, we believe that the high demand for amorphous alloy cores and transformers should continue for several years."

Financial statements follow. China Power Equipment, Inc. Consolidated Statements of Operations Year Ended December 31, 2009 2008 Revenue, net $23,866,239 $9,394,491 Cost of goods sold (18,167,768) (7,050,739) Gross profit 5,698,471 2,343,752 Operating expenses: Selling, general, and administrative expenses 1,170,932 779,350 Stock-based compensation 25,697 -- Total operating expenses 1,196,629 779,350 Net income from operations 4,501,842 1,564,402 Other income (expenses) Gain on investment 89,755 67,505 Other income 393,224 279,436 Interest income 12,902 3,119 Interest expense (14,268) (188,110) Total other income 481,613 161,950 Net income before income taxes 4,983,455 1,726,352 Income taxes 763,455 270,559 Net income $4,220,000 $1,455,793 Deemed dividend from beneficial conversion feature of preferred stocks (9,045,005) (2,193,483) Net loss applicable to common shareholders $(4,825,005) $(737,690) Loss per share - basic $(0.32) $(0.07) Loss per share - diluted $(0.32) $(0.07) Weighted average common shares outstanding: Basic 14,908,313 11,036,692 Diluted 14,908,313 11,036,692 The accompanying notes are an integral part of these consolidated financial statements. China Power Equipment, Inc. Consolidated Balance Sheets December 31, December 31, 2009 2008 Assets Current Assets Cash $8,883,188 $1,071,038 Accounts receivable, net 1,949,818 2,013,305 Advance to suppliers -- 771,407 Inventory, net (Note 3) 363,312 461,634 Prepaid expenses and other receivables 220,939 257,700 Total Current Assets 11,417,257 4,575,084 Related party receivables (Note 11) 731 97,248 Property, plant and equipment, net (Note 4) 4,593,068 3,116,422 Intangible assets, net (Note 6) 391,513 220,742 Long-term investment (Note 5) 282,897 236,384 Deposit on contract rights (Note 12) 1,316,328 1,313,064 Deposit for purchase of equipment 767,858 -- Prepaid capital lease (Note 9) 111,482 116,694 Total Assets $18,881,134 $9,675,638 Liabilities and Stockholders' Equity Current Liabilities Accounts payable $549,065 $710,480 Accrued liabilities and other payables 395,486 409,040 Advance from customers 32,760 142,156 Lease payable - current portion (Note 9) 2,156 1,944 Note payable (Note 8) 58,503 58,358 Value-added tax payable 219,398 64,686 Income taxes payable (Note 7) 365,751 235,262 Related party payable (Note 11) 1,170 1,167 Total Current Liabilities 1,624,289 1,623,093 Long-term Liabilities Lease payable - non current portion (Note 9) 115,463 117,327 Total Long-term Liabilities 115,463 117,327 Stockholders' Equity Series B convertible preferred stock, $0.001 par value, 5,000,000 shares authorized, 4,166,667 shares and Nil issued and outstanding at December 31, 2009 and 2008 4,167 -- Common stock: par value $0.001 per share, 100,000,000 shares authorized; 14,908,313 shares issued and outstanding at December 31, 2009 and 2008 14,908 14,908 Additional paid-in capital 21,182,026 7,176,041 Statutory surplus reserve fund (Note 10) 642,819 202,665 Retained earnings (Accumulated deficit) (5,728,130) (462,971) Accumulated other comprehensive income 1,025,592 1,004,575 Total stockholders' equity 17,141,382 7,935,218 Total Liabilities and Stockholders' Equity $18,881,134 $9,675,638 The accompanying notes are an integral part of these consolidated financial statements. China Power Equipment, Inc. Consolidated Statements of Cash Flows Year Ended December 31, 2009 2008 Cash Flows from Operating Activities Net income $4,220,000 $1,455,793 Adjustments to reconcile net income to net cash: Depreciation and amortization expense 249,592 232,607 Stock-based compensation 25,697 -- Provision of bad debts 90,594 40,467 Provision of impairment loss of advance to suppliers -- 107,885 Gain on investment (89,755) (67,505) Changes in operating assets and liabilities: Accounts receivable (22,138) (210,710) Advance to suppliers 772,909 83,518 Inventory 99,416 (92,297) Prepaid expenses and other receivables 37,380 17,051 Accounts payable (163,094) (442,875) Accrued expenses and other payables (14,558) (39,973) VAT tax payable 154,468 (36,449) Income taxes payable 129,834 105,293 Advance from customers (109,690) (17,473) Net cash provided by (used in) operating activities 5,380,655 1,135,332 Cash Flows from Investing Activities Acquisitions of property, plant, and equipment (18,422) (49,266) Addition in construction in progress (1,620,844) -- Acquisitions of intangible assets (219,270) -- Deposit for purchase of equipment (767,445) -- Repayment from related parties 72,913 65,724 Dividend from equity interest subsidiary 43,854 71,816 Net cash provided by (used in) investing activities (2,509,214) 88,274 Cash Flows from Financing Activities Principal payments on capital lease (1,948) (1,731) Repayment to related parties -- (186,575) Proceeds from issuing preferred stock 4,939,450 -- Repayment to short-term loans -- (1,098,783) Net cash provided by (used in) financing activities 4,937,502 (1,287,089) Effect of exchange rate changes on cash and cash equivalents: 3,207 60,626 Increase (decrease) in cash and cash equivalents 7,812,150 (2,857) Cash and cash equivalents, beginning of period 1,071,038 1,073,895 Cash and cash equivalents, end of period $8,883,188 $1,071,038 Supplemental disclosure of cash flow information Interest paid in cash $14,268 $188,110 Income taxes paid in cash $633,621 $165,265 Non-cash investing and financing activities: Issuance of stocks for advance from investor $-- $100,000 Reclass long-term investment to advance to suppliers $-- $706,823 Conversion of preferred stock to common stock $-- $93 Construction in progress in lieu of repayment from related party $23,794 $-- The accompanying notes are an integral part of these consolidated financial statements." China Power Equipment, Inc. Consolidated Statements Of Stockholders' Equity Additional Preferred Stock Capital Stock Paid-in Shares Amount Shares Amount Capital BALANCE, JANUARY 1, 2008 92,500 $93 10,451,613 $10,452 $4,886,921 Conversion of Series A preferred stock (92,500) (93) 4,021,900 4,022 (3,929) Deemed dividend on preferred stock -- -- -- -- 2,193,483 Issuance of common stock -- -- 434,800 434 99,566 Transfer to statutory reserve -- -- -- -- -- Comprehensive income: Net income -- -- -- -- -- Foreign currency translation adjustment -- -- -- -- -- Total comprehensive income BALANCE, DECEMBER 31, 2008 -- -- 14,908,313 14,908 7,176,041 Issuance of preferred stock 4,166,667 4,167 -- -- 4,935,283 Deemed dividend on preferred stock -- -- -- -- 9,045,005 Stock-Based Compensation -- -- -- -- 25,697 Transfer to statutory reserve -- -- -- -- -- Comprehensive income: Net income -- -- -- -- -- Foreign currency translation adjustment -- -- -- -- -- Total comprehensive income BALANCE, DECEMBER 31, 2009 4,166,667 $4,167 14,908,313 $14,908 $21,182,026 China Power Equipment, Inc. Consolidated Statements Of Stockholders' Equity Accumulated Retained Other Statutory Earnings Compre- Total Surplus (Accumulated hensive Stockholders' Reserve deficit) Income (Loss) Equity BALANCE, JANUARY 1, 2008 $38,629 $438,755 $585,381 $5,960,231 Conversion of Series A preferred stock -- -- -- -- Deemed dividend on preferred stock -- (2,193,483) -- -- Issuance of common stock -- -- -- 100,000 Transfer to statutory reserve 164,036 (164,036) -- -- Comprehensive income: Net income -- 1,455,793 -- 1,455,793 Foreign currency translation adjustment -- -- 419,194 419,194 Total comprehensive income 1,874,987 BALANCE, DECEMBER 31, 2008 202,665 (462,971) 1,004,575 7,935,218 Issuance of preferred stock -- -- -- 4,939,450 Deemed dividend on preferred stock -- (9,045,005) -- -- Stock-Based Compensation -- -- -- 25,697 Transfer to statutory reserve 440,154 (440,154) -- -- Comprehensive income: Net income -- 4,220,000 -- 4,220,000 Foreign currency translation adjustment -- -- 21,017 21,017 Total comprehensive income 4,241,017 BALANCE, DECEMBER 31, 2009 $642,819 $(5,728,130) $1,025,592 $17,141,382 The accompanying notes are an integral part of these consolidated financial statements.

About China Power Equipment, Inc.
China Power Equipment, Inc., is a U.S. corporation, which through its wholly-owned subsidiary, An Sen (Xi'an) Power Science & Technology Co., Ltd. and its affiliated operating company, Xi'an Amorphous Zhongxi Co., Ltd., designs, manufactures, and distributes amorphous alloy transformer cores and amorphous alloy core electricity transformers in the People's Republic of China. The company currently manufactures 59 different products, primarily amorphous alloy cores and amorphous alloy core transformers.
Safe harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.
The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, our ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts and legal restrictions on raising capital or acquiring companies outside China.
Additional risks that could affect our future operating results are more fully described in our filings with United States Securities and Exchange Commission. These filings are available at .
We may, from time to time, make additional written and oral forward- looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by or on our behalf.
For more information on China Power Equipment please visit our website at .

For more information, please contact: China Power Equipment, Inc. Phone: +1-646-623-6999 in the USA Email: xa-fj@xa-fj.com or Christensen Mr. Yuanyuan Chen (English and Chinese) Mobile: +86-139-2337-7882 in Beijing Email: ychen@christensenir.com Mr. Tom Myers (English) Mobile: +86-139-1141-3520 in Beijing Email: tmyers@christensenir.com Ms. Kathy Li (English and Chinese) Telephone +1-212-618-1978 in the USA Email: kli@christensenir.com

SOURCE China Power Equipment, Inc.
Copyright (C) 2010 PR Newswire. All rights reserved

CAE news AH, also like DEPO here

DEPO gonna move?

GNVC .78 9 mill pre-market volume

XRM news PM

Xerium Technologies Receives Overwhelming Support from Lenders for Plan to Reduce Approximately $150 Million in Debt

Operations to Continue as Usual

Company Files Papers to Assure Customers, Employees, and Suppliers Are Not Impacted

RALEIGH, N.C.--(BUSINESS WIRE)--Xerium Technologies, Inc. (NYSE:XRM), a leading global manufacturer of industrial textiles and rolls used primarily in the paper production process, today announced that it has received overwhelming support from its lenders for a restructuring plan to reduce the Company’s debt by approximately $150 million and significantly strengthen its long-term financial health. The Company will implement the “pre-packaged” plan of reorganization with court assistance under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.

“This is a major accomplishment for the Company that will enable us to continue implementing our three-part operating strategy; reducing our debt load, introducing new products that our customers value and maximizing the contribution of our employees.”

The Company will operate as usual during the court process, which is anticipated to be concluded in 30 to 60 days. The restructuring involves Xerium’s companies located in the United States, Canada, Austria and its non-operating holding companies in Italy and Germany. The Company’s operating entities in Europe, Asia, South America, Italy, and Germany are not part of the court process or the restructuring.

“We are delighted to receive such overwhelming support from our lenders, which allows us to quickly move forward with our pre-packaged restructuring plan,” commented Stephen R. Light, Xerium’s Chairman, CEO and President. “This is a major accomplishment for the Company that will enable us to continue implementing our three-part operating strategy; reducing our debt load, introducing new products that our customers value and maximizing the contribution of our employees.”

“As a result of the restructuring, the Company will be well positioned to compete successfully in our served markets,” said Mr. Light. “The restructuring will allow the company to remain focused on our primary goals, manufacturing and supplying the best products possible to our global customers.”

The filing is not intended to impact employees, suppliers or customers. As part of its initial filings, the Company filed motions seeking assurances from the court that employees will continue to receive their usual pay and benefits on an uninterrupted basis, customers receive goods as they normally would, and suppliers will receive all amounts owed to them both before and after the filing in the normal course of business. Additionally, to assure its liquidity during the restructuring process, the Company has secured a commitment from its lenders for an $80 million term and revolving credit facility and has filed motions seeking the Court’s approval of the financing.

Among other things, the pre-packaged plan provides that approximately $620 million of existing debt would be exchanged for approximately $10 million in cash, $410 million in new terms loans maturing in 2015, and approximately 82.6% of the common stock of the Company. Existing shareholders would retain a meaningful minority equity ownership of the Company of approximately 17.4% of the common stock and receive four year warrants to purchase up to an additional 10% of the common stock. In addition, the Company would enter into a new revolving loan of up to $20 million and a term loan of $60 million. The implementation of the pre-packaged plan is dependent upon a number of factors, including final documentation, the approval of a disclosure statement and confirmation of the plan in accordance with the provisions of the Bankruptcy Code.

The Company expects that the NYSE will continue the listing of its common stock in light of the expected meaningful continuing equity value to be received by current common equity holders and the anticipated accelerated path to emergence facilitated by a pre-packaged Chapter 11 filing. However, the continued listing will be subject to ongoing reassessment by the staff of NYSE Regulation, Inc. based on current information and circumstances. Separately, the Company is operating under an NYSE-approved plan to address quantitative non-compliance with certain continued listing requirements. If the proposed restructuring is successfully completed, the Company expects that its quantitative non-compliance would also be addressed within the timeframes required under NYSE rules.

Parties who have additional questions regarding Xerium’s Chapter 11 filing may contact the Company’s Information Hotline at 888-369-8914. All media inquiries should be referred to Geoffrey Buscher at 1-508-532-1790, or email IR@xerium.com.

About Xerium Technologies

Xerium Technologies, Inc. (NYSE: XRM) is a leading global manufacturer and supplier of two types of consumable products used primarily in the production of paper: clothing and roll covers. The Company, which operates around the world under a variety of brand names, utilizes a broad portfolio of patented and proprietary technologies to provide customers with tailored solutions and products integral to production, all designed to optimize performance and reduce operational costs. With 32 manufacturing facilities in 13 countries around the world, Xerium has approximately 3,300 employees.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. These risks and uncertainties include the following items: (1) the Company’s ability to obtain court approval with respect to motions in the Chapter 11 proceedings; (2) court rulings in the Chapter 11 case, including whether the court approves the Company’s pre-packaged plan; (3) the possibility of delays in the Chapter 11 proceedings; (4) the Company’s ability to enter into the debtor-in-possession financing; (5) the potential adverse impact of any restructuring and the Chapter 11 filing on our business, results of operations, financial condition and liquidity; (6) the Company’s ability to achieve compliance with NYSE continued listing standards or otherwise maintain its NYSE listing status; (7) management of cash resources; (8) restrictions imposed by, and as a result of, the Company’s substantial leverage; (9) the Company’s ability to obtain and maintain normal terms with customers, suppliers and service providers and to retain key executives, managers and employees; (10) the effects of the global economic crisis and associated unpredictable market conditions; (11) the rate of market improvement in the industry occurring slower than expected; and (12) the other risks and uncertainties discussed elsewhere in this press release, our Form 10-K for the year ended December 31, 2009, and our subsequent SEC filings. If any of these risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary significantly from what we projected. Any forward-looking statement in this press release reflects our current views with respect to future events. We assume no obligation to publicly update or revise these forward-looking statements for any reason, whether as a result of new information, future events, or otherwise. As discussed above, we are subject to substantial risks and uncertainties related to the current economic downturn and our credit issues, and we encourage investors to refer to our SEC filings for additional information. Copies of these filings are available from the SEC and in the investor relations section of our website at www.xerium.com.
Contacts

SBG Investor Relations
Geoffrey Buscher, 508-532-1790
IR@xerium.com

CLDA news, PM

March 30, 2010 07:09 AM Eastern Daylight Time
Clinical Data, Inc. Reports Results of Phase I Studies of Stedivaze™ Demonstrating Safety and Tolerability in Patients with Asthma and COPD

Enrollment continues in Phase III ASPECT trial of Stedivaze

NEWTON, Mass.--(BUSINESS WIRE)--Clinical Data, Inc. (NASDAQ: CLDA), today announced results from two Phase I studies of Stedivaze™ (apadenoson), which demonstrated that Stedivaze was safe and well tolerated in patients with asthma and chronic obstructive pulmonary disease (COPD). Stedivaze is a potent and highly selective agonist of the adenosine A2A receptor subtype in development as a pharmacologic stress agent for myocardial perfusion imaging (MPI). Currently available adenosine agonists must be used with caution or are contraindicated in patients with asthma and COPD. The high selectivity of Stedivaze offers a potential advantage for the safe use in this population, accounting for approximately 10 percent of the 7.6M MPI tests performed annually.1 The Company is also actively enrolling patients in ASPECT 1, a Phase III trial designed to demonstrate the safety and effectiveness of Stedivaze.

“A2A – adenosine Receptor Reserve for Coronary Vasodilation”

“The positive results from our preliminary studies in asthmatics and COPD patients are encouraging and represent a milestone toward our goal of developing a coronary vasodilator that is both safe and well tolerated in these populations,” said Carol R. Reed, M.D., Executive Vice President and Chief Medical Officer of Clinical Data. “We intend to expand these findings by initiating further safety studies of Stedivaze in patients with asthma and COPD, while continuing to evaluate the efficacy and potential for superior tolerability of Stedivaze in our ongoing Phase III program.”

In both of these placebo-controlled studies, Stedivaze was administered as a single IV bolus, at the same dose utilized in the ASPECT 1 trial. In 49 patients with mild to moderate asthma and 50 patients with moderate to severe COPD, Stedivaze had no effects on pulmonary function tests. Adverse events overall were similar in both incidence and severity to the adverse event profile seen in previous studies of Stedivaze in patients without lung disease, and continue to support its potential for improved tolerability. Most frequently observed adverse events, common to this class of agents, included palpitations, flushing, chest discomfort and shortness of breath. Results of both of these trials support the continued study of Stedivaze in patients with asthma and COPD.

In addition to completing these Phase I studies, the Company is continuing to enroll patients in its ASPECT 1 trial of Stedivaze, a Phase III randomized, double blind, active control study initiated in November 2009, which is designed to demonstrate both efficacy and the potential for improved tolerability for Stedivaze in patients undergoing SPECT MPI. ASPECT 2, a second Phase III trial similar in design to ASPECT 1, is expected to begin in the second half 2010.

About Stedivaze

Stedivaze (apadenoson) is a potent agonist of the adenosine A2A receptor subtype and offers improved selectivity for this receptor over other subtypes (A1 and A2B). Phase II studies suggest that Stedivaze produces ample coronary artery vasodilation required for SPECT MPI testing and has a pharmacokinetic profile that will allow it to be administered as a fixed dose bolus injection. Because of its superior selectivity for the A2A receptor subtype and its optimal pharmacokinetic profile, Stedivaze may offer improved tolerability over other adenosine receptor agonists currently marketed for use in pharmacologic stress MPI.

About Myocardial Perfusion Imaging

Myocardial perfusion imaging is used as a primary screen to identify the presence of coronary artery disease (CAD) as evidenced by detection of areas of poor blood flow in the heart that can be caused by the presence of plaques that can reduce or block the normal flow of blood to the heart. A pharmacologic stress agent is used to temporarily increase blood flow through normal coronary arteries in order to define areas of the heart that may be receiving reduced blood flow under rest and then stress conditions. The A2A adenosine receptor is the receptor subtype responsible for coronary vasodilation, or the widening of blood vessels that supply the heart muscle.2

The U.S. market for MPI testing is projected to be $800 million in 2011. Over 7.6 million MPI tests were performed in the U.S. in 2008 and approximately 3.5 million of these tests required the use of a pharmacological agent to generate maximum coronary blood flow in lieu of exercise.3 The market is expected to continue to grow due to an aging population, a rise in the number of patients unable to perform exercise during diagnostic procedures, and emerging imaging modalities that require the use of a vasodilator.

About Clinical Data, Inc.

Clinical Data develops first-in-class and best-in-category therapeutics. The Company is advancing its late-stage drug candidates for central nervous system disorders and cardiovascular diseases, to be followed by promising drug candidates in other major therapeutic areas. Clinical Data combines its drug development and biomarker expertise in an effort to develop products with enhanced efficacy and tolerability to improve patient health and reduce costs. To learn more, please visit the Company's website at www.clda.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains certain forward-looking information and statements that are intended to be covered by the safe harbor for forward looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)", "feel(s)", "believe(s)", "will", "may", "anticipate(s)" and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about our ability to obtain regulatory approval for, and successfully introduce Stedivaze; our ability to expand our long-term business opportunities; and all other statements regarding future performance. All such information and statements are subject to certain risks and uncertainties, the effects of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to, risks related to whether Stedivaze or any of our therapeutic products will advance further in the clinical trials process and whether and when, if at all, they will receive final approval from the U.S. Food and Drug Administration and equivalent foreign regulatory agencies and for which indications; whether Stedivaze or any of our other therapeutic products will be successfully marketed if approved; and those risks identified and discussed by Clinical Data in its filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward looking statements that speak only as of the date hereof. Clinical Data does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures in Clinical Data's SEC periodic and interim reports, including but not limited to its Annual Report on Form 10-K for the fiscal year ended March 31, 2009, Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2009, and Current Reports on Form 8-K filed from time to time by the Company.

1Eliana Reyes, MD, et al. Adenosine myocardial perfusion scintigraphy in obstructive airway disease. Journal of Nuclear Cardiology, November/December 2007

2Shryock, J.C., Snowdy, S., Baraldi, P.G., et al. “A2A – adenosine Receptor Reserve for Coronary Vasodilation,” Circulation, 1998, pp. 711-718.

3AMR Monthly Monitor SNM: Advanced Molecular Imaging and Therapy, September 15, 2008.

Looking for AEN to open tomorrow in the $2s all over yahoo about a deal in the works with Pfizer

GNVC 2.81 after hours .69

GenVec, Inc. (Nasdaq: GNVC) announced today that it is discontinuing its Phase 3 clinical trial of TNFerade(TM) in patients with locally advanced pancreatic cancer based on results of an interim analysis. This interim analysis of overall survival, conducted after the 184th death (two-thirds of total expected events), was designed to determine whether the study should continue.

GenVec has determined, after conferring with its independent Data Safety Monitoring Board, that the PACT trial would not meet the goal of demonstrating persuasive evidence of clinical effectiveness that could form the basis for regulatory approval in the population chosen for study. This randomized, controlled trial compared treatment with TNFerade (in combination with standard of care (SOC)) to SOC alone in patients with locally advanced pancreatic cancer.

These interim data demonstrated an approximately 8% lower risk of death in the TNFerade plus SOC arm relative to the SOC alone (hazard ratio= 0.921; 95% Confidence Interval [0.678 -1.252]). Accordingly, these data strongly suggest the trial will not achieve the statistical significance required to form the basis for approval of a biological license application in the population chosen for study, thereby warranting discontinuing the trial.

The Company is in the process of notifying the investigators and regulatory agencies of the discontinuation of the PACT trial.

"We are disappointed that the PACT trial did not provide sufficient evidence of the clinical effectiveness of TNFerade to warrant completion of the trial," said Mark Thornton, M.D., Ph.D., Senior Vice President of Product Development at GenVec. "We will, of course, continue to follow the patients currently enrolled in the trial and are conducting additional analyses of the data from the trial and expect that the results will be presented in the future at an appropriate scientific meeting."

ARWR had a good day. not expecting news anytime soon but I will find out when the next news be coming~

AEN after hrs news: NYSE: Adeona Pharma Says Policy Not To Comment On Market ActivityLast update: 3/29/2010 5:43:39 PM(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)March 29, 2010 17:43 ET (21:43 GMT)


THIS IS ONE HOT STOCK!

fyi: no news by april 1st and it will crash

I think MRNA and AEN are strong buys now, as well as ATPG

anything moving tonight?

in MRNA 1.31

CHINA up .07 PM

AEN chart http://stockcharts.com/h-sc/ui?s=AEN&p=D&b=5&g=0&id=p15637474399

CHINA chart http://stockcharts.com/h-sc/ui?s=CHINA&p=D&b=5&g=0&id=p84293332162

AEN and CHINA, 2 solid plays right now. 2 beautiful charts

you watching ARWR next week????? or playing it ??

CPWM up 23% pre market. Earnings out yesterday after bell

SLW up .37 PM, silver play

Looking for AEN to open up big today, also CHINA gapping up

remind me to follow up on ARWR next week. Got us a nice tip to buy in this before news in June

Doug, i also see it listed as a shell/RM candidate on pinksheets

Joe this is unusual for an Amex stock to have that much volume after hours! Something is up plus it had a good trading day. O/S low too!

http://www.nasdaq.com/aspxcontent/ExtendedTradingTrades.aspx?selected=AEN&mkttype=after

AEN up AH, possible MS drug news ?

CHINA bid UT, looking strong today, SLW , COIN and SCLN all up PM

NMTI earnings news out

NMT Medical Announces Fourth-Quarter and Year-End 2009 Financial Results
Last update: 3/25/2010 7:30:15 AM
CLOSURE I Trial Data Analysis to Commence in Mid-April 2010;
BOSTON, Mar 25, 2010 (BUSINESS WIRE) -- --$5.8 Million Financing Closed in February will Fund Ongoing Clinical Trials and Development Programs
NMT Medical, Inc. (NMTI), an advanced medical technology company that designs, develops, manufactures and markets proprietary implant technologies that allow interventional cardiologists to treat structural heart disease through minimally invasive, catheter-based procedures, today announced financial results for the quarter and fiscal year ended December 31, 2009.
Fourth-Quarter Results
Fourth-quarter 2009 total revenues were approximately $3.6 million compared with approximately $4.4 million for the quarter ended December 31, 2008.
Cardiac septal repair implant sales in North America for the fourth quarter of 2009 were approximately $2.1 million compared with approximately $3.0 million in the fourth quarter of 2008. Implant sales outside of North America were approximately $1.5 million in the fourth quarter of 2009 compared with $1.4 million in the corresponding period of 2008.
For the fourth quarter of 2009, NMT narrowed its net loss to approximately $1.9 million, or $0.15 per share, compared with a net loss of approximately $4.2 million, or $0.32 per share, for the corresponding period in 2008.
Full-Year Results
Total revenues for the twelve months ended December 31, 2009 were approximately $13.2 million compared with approximately $17.9 million for the same period in 2008.
Full-year 2009 cardiac septal repair implant sales in North America were approximately $9.1 million compared with approximately $11.7 million for the twelve-month period ended December 31, 2008. Implant sales outside of North America were approximately $4.1 million for the twelve-month period ended December 31, 2009 compared with approximately $6.1 million for the same period in 2008.
The net loss for the twelve months ended December 31, 2009 narrowed to approximately $12.4 million, or $0.94 per share, compared with a net loss of approximately $18.1 million, or $1.39 per share, for the corresponding period in 2008.
Management Comments
"We were pleased to achieve full-year revenues within our previously provided guidance range," said President and Chief Executive Officer Frank Martin. "Our strategy and efforts to increase unit sales of BioSTAR(R) in new territories outside of North America by entering and establishing distribution partnerships has resulted in BioSTAR(R) currently being available for commercial sale in 25 countries. In the fourth quarter, we began marketing our products in Brazil, Turkey and several countries in the Middle East. We are confident that NMT is well positioned to continue increasing its distribution outside of North America. As expected, tightly managed hospital inventory levels and the regulatory and product labeling requirements continue to limit our sales in North America."
"We believe 2010 is going to be a landmark year for NMT," said Martin. "We are approaching completion of CLOSURE I, our pivotal patent foramen ovale (PFO)/stroke and transient ischemic attack (TIA) trial in the United States. Data analysis is on schedule to commence in mid-April. Assuming positive results, we currently are targeting a third-quarter 2010 submission to the U.S. Food and Drug Administration for Pre-Market Approval of our STARFlex(R) device for the stroke and TIA indication. At that time, 100 percent of the randomized patient follow-up data will be available. In addition, we recently announced the formation of our Scientific Advisory Board, and that John E. Ahern, NMT's former Chairman and CEO, who had been actively involved with CLOSURE I since its inception, has stepped out of retirement to rejoin our Board of Directors."
Chief Operating Officer, Richard E. Davis, said, "The financial results of 2009 demonstrate that we have effectively managed our expenses as we narrowed our net loss and cash burn while expanding our worldwide distribution network. In 2009, we lowered our total operating costs by more than 25 percent over 2008. At the same time, we invested in and strengthened NMT's commercial infrastructure outside of North America. At December 31, 2009, cash and cash equivalents were approximately $8.9 million, which included two payments received in the fourth quarter related to settled patent infringement lawsuits -- a $2.75 million payment from W.L. Gore and the final payment of $250,000 from Cardia."
"In early 2010, we continued to strengthen our balance sheet with a $5.8 million financing through a private placement of common stock and warrants. In combination with the $4 million of availability under our current credit facility, we are confident that we have the financial resources necessary to support our ongoing clinical trials and development programs and fully execute our business plan. Pending results of the CLOSURE I trial, we currently anticipate full year 2010 revenues to increase modestly from 2009 levels," concluded Davis.
Conference Call Reminder
Management will conduct a conference call at 9:30 a.m. ET today to review the Company's financial results and provide a business update. Individuals who are interested in listening to the live webcast should log on to the "Investors" section of NMT Medical's website at . The conference call also may be accessed by dialing (877) 407-5790 or (201) 689-8328. For interested individuals unable to join the live conference call, a replay will be archived for one year via webcast on the Company's website.
About NMT Medical, Inc.
NMT Medical is an advanced medical technology company that designs, develops, manufactures and markets proprietary implant technologies that allow interventional cardiologists to treat structural heart disease through minimally invasive, catheter-based procedures. NMT is currently investigating the potential connection between a common heart defect that allows a right-to-left shunt or flow of blood through a defect like a patent foramen ovale (PFO) and brain attacks such as embolic stroke, transient ischemic attacks (TIAs) and migraine headaches. A common right-to-left shunt can allow venous blood, unfiltered and unmanaged by the lungs, to enter the arterial circulation of the brain, possibly triggering a cerebral event or brain attack. More than 32,000 PFOs have been treated globally with NMT's minimally invasive, catheter-based implant technology.
Stroke is a leading cause of death in the United States and the leading cause of disability in adults. Each year, 750,000 Americans suffer a new or recurrent stroke and an additional 500,000 Americans experience a TIA.
For more information about NMT Medical, please visit .
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements -- including statements regarding the timing, cost, clinical status, and outcome of the Company's CLOSURE I trial, its ongoing clinical trials and development programs, the Company's expected savings from cost reductions, the Company's revenue expectations for 2010, the success of our new distribution partnerships, expansion of the Company's cardiovascular business and market opportunities, including stroke, TIA and any other new applications for the Company's technology or products, regulatory approvals for the Company's products in the United States and abroad and the Company's investment in product development -- involve known and unknown risks, uncertainties or other factors that may cause 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. Factors that may cause such a difference include, but are not limited to, the Company's ability to develop and commercialize new products, a potential delay in the regulatory process with the U.S. Food and Drug Administration and foreign regulatory agencies, as well as risk factors discussed under the heading "Risk Factors" included in the Company's Annual Report on Form 10-K for the year ended December 31, 2008, Quarterly Report on Form 10-Q for the quarter ended September 30, 2009, and subsequent filings with the U.S. Securities and Exchange Commission.

NMT Medical, Inc. and SubsidiariesConsolidated Statements of Operations For The Three Months Ended For The Twelve Months Ended December 31, December 31, 2009 2008 2009 2008 Revenues: Product sales $ 3,557,671 $ 4,437,954 $ 13,220,117 17,856,449 Net royalty income - - - 18,170 Total revenues 3,557,671 4,437,954 13,220,117 17,874,619 Costs and expenses: Cost of product sales 1,483,145 1,606,766 5,504,232 5,968,933 Research and development 2,286,961 3,573,096 8,923,462 13,194,376 General and administrative 1,268,651 1,589,532 6,763,779 8,578,640 Selling and marketing 1,374,693 1,917,974 5,466,823 8,783,784 Total cost and expenses 6,413,450 8,687,368 26,658,296 36,525,733 Net gain from settlement of litigation 950,500 - 950,500 - Loss from operations (1,905,279 ) (4,249,414 ) (12,487,679 ) (18,651,114 ) Other (expense) income: Currency transaction loss (15,518 ) (50,837 ) (1,554 ) (123,192 ) Interest income 1,047 105,287 89,366 767,724 Total other (expense) income (14,471 ) 54,450 87,812 644,532 Loss before income taxes (1,919,750 ) (4,194,964 ) (12,399,867 ) (18,006,582 ) Income tax expense 13,937 11,197 43,903 69,169 Net loss $ (1,933,687 ) $ (4,206,161 ) $ (12,443,770 ) $ (18,075,751 ) Basic & diluted loss per common share: $ (0.15 ) $ (0.32 ) $ (0.94 ) $ (1.39 ) Basic & diluted weighted average common shares outstanding: 13,228,294 13,082,391 13,189,137 13,019,653

NMT Medical, Inc. and SubsidiariesConsolidated Balance Sheets At December 31, At December 31, 2009 2008 Assets Current assets: Cash and cash equivalents $ 8,926,329 $ 4,899,179 Marketable securities - 12,674,639 Accounts receivable, net 1,683,829 2,511,934 Inventories 1,658,646 2,018,173 Prepaid expenses and other current assets 1,029,348 1,212,947 Total current assets 13,298,152 23,316,872 Property and equipment, net 694,520 928,693 $ 13,992,672 $ 24,245,565 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 5,017,863 $ 2,870,606 Accrued expenses 5,840,908 6,468,167 Total current liabilities 10,858,771 9,338,773 Long-term liabilities 554,143 507,426 Stockholders' equity: Preferred stock, $.001 par value Authorized--3,000,000 shares Issued and outstanding--none - - Common stock, $.001 par value Authorized--30,000,000 shares Issued and outstanding--13,268,294 and 13,122,391 shares in 2009 and 2008, respectively 13,268 13,122 Additional paid-in capital 53,175,464 52,659,855 Less treasury stock - 40,000 shares at cost (119,600 ) (119,600 ) Accumulated other comprehensive loss - (108,407 ) Accumulated deficit (50,489,374 ) (38,045,604 ) Total stockholders' equity 2,579,758 14,399,366 $ 13,992,672 $ 24,245,565

SOURCE: NMT Medical, Inc.

NMT Medical, Inc. Richard E. Davis, 617-737-0930 Chief Operating Officer red@nmtmedical.com

Copyright Business Wire 2010

CHINA bid UT

CHINA up nice today, looking for a follow through, and a break of 2.95

nice find on that news but not moving this morning.Shares Outstanding: 165,749,000 little high imo

COIN up .035 PM

APCVZ up PM

MF holding strong after announcing Corzine to company