Under the fiscal 2010 defense authorization act signed into law Wednesday by President Barack Obama, the United States is capping production at 187 of the premier U.S. fighter aircraft.(Reporting by Jim Wolf; Editing Bernard Orr)
11 years ago
Friday, October 30, 2009
Lockheed gets $474.2 mln F-22 fighter contract
WASHINGTON, Oct 29 (Reuters) - Lockheed Martin Corp (LMT.N) has been awarded a $474.2 million U.S. Air Force contract for four more F-22 fighter aircraft and related work as production heads toward an end, the Defense Department said Thursday. Under the fiscal 2010 defense authorization act signed into law Wednesday by President Barack Obama, the United States is capping production at 187 of the premier U.S. fighter aircraft.
(Reporting by Jim Wolf; Editing Bernard Orr)
Under the fiscal 2010 defense authorization act signed into law Wednesday by President Barack Obama, the United States is capping production at 187 of the premier U.S. fighter aircraft.(Reporting by Jim Wolf; Editing Bernard Orr)
U.S. states vie to land F-35 fighter bases
WASHINGTON, Oct 29 (Reuters) - Vermont, Utah, Florida, Idaho and South Carolina moved closer Thursday to landing operating bases for Lockheed Martin Corp's (LMT.N) new F-35 Joint Strike Fighter aircraft. 
The U.S. Air Force also said locations in Idaho, Florida, New Mexico and two in Arizona were being examined as potential training bases for the radar-evading, single-engine jet, now in early production.
Attracting the F-35, the Pentagon's costliest acquisition program at $300 billion over coming decades, would be a shot in the arm to surrounding communities.
An Air Force spokesman, Vincent King, said it was too early to determine how much might be spent to prepare the sites to accommodate the plane.
Next steps in the selection process include a formal environmental impact analysis of each of the 11 final candidate bases, including Shaw Air Force Base and McEntire Air Guard Base in South Carolina. The analysis will give communities around each base a chance to provide input.
The list announced Thursday was based on such criteria as airspace, flight training ranges, weather, support facilities, runways, taxi ramps and environmental concerns.
Also taken in account were "military judgment factors" such as combatant commander requirements, aircraft retirements and delivery schedules, aircraft maintenance and logistics support, and integration with the Air National Guard and Reserve, the Air Force said in a statement.
The announcement sparked celebrations and disappointment among various lawmakers on Capitol Hill.
"Today is a great day for Utah," Republican Sen. Orrin Hatch said in a statement cheering the inclusion of Hill Air Force Base in northern Utah.
Sen. John McCain, Republican of Arizona, said he would continue to work to bring the F-35 to his state's Luke Air Force Base and Tucson International Airport Air Guard Station. McCain said he would engage the Air Force to ensure the final base selection process was "fair, transparent, and takes into consideration the strong history of support by local communities in Arizona."
Sen. Lisa Murkowski, a Republican from Alaska, bemoaned the absence of her state's Eielson Air Force Base and said she would protest to senior defense officials.
Air Force officials expect to winnow the list again next year based on the environmental impact studies and site assessments. Final decisions are expected in early 2011, the Air Force said.
The U.S. Air Force, Navy and Marine Corps will each fly a different model of the F-35. (Reporting by Jim Wolf; Editing by Tim Dobbyn)
The U.S. Air Force also said locations in Idaho, Florida, New Mexico and two in Arizona were being examined as potential training bases for the radar-evading, single-engine jet, now in early production.Attracting the F-35, the Pentagon's costliest acquisition program at $300 billion over coming decades, would be a shot in the arm to surrounding communities.
An Air Force spokesman, Vincent King, said it was too early to determine how much might be spent to prepare the sites to accommodate the plane.
Next steps in the selection process include a formal environmental impact analysis of each of the 11 final candidate bases, including Shaw Air Force Base and McEntire Air Guard Base in South Carolina. The analysis will give communities around each base a chance to provide input.
The list announced Thursday was based on such criteria as airspace, flight training ranges, weather, support facilities, runways, taxi ramps and environmental concerns.
Also taken in account were "military judgment factors" such as combatant commander requirements, aircraft retirements and delivery schedules, aircraft maintenance and logistics support, and integration with the Air National Guard and Reserve, the Air Force said in a statement.
The announcement sparked celebrations and disappointment among various lawmakers on Capitol Hill.
"Today is a great day for Utah," Republican Sen. Orrin Hatch said in a statement cheering the inclusion of Hill Air Force Base in northern Utah.
Sen. John McCain, Republican of Arizona, said he would continue to work to bring the F-35 to his state's Luke Air Force Base and Tucson International Airport Air Guard Station. McCain said he would engage the Air Force to ensure the final base selection process was "fair, transparent, and takes into consideration the strong history of support by local communities in Arizona."
Sen. Lisa Murkowski, a Republican from Alaska, bemoaned the absence of her state's Eielson Air Force Base and said she would protest to senior defense officials.
Air Force officials expect to winnow the list again next year based on the environmental impact studies and site assessments. Final decisions are expected in early 2011, the Air Force said.
The U.S. Air Force, Navy and Marine Corps will each fly a different model of the F-35. (Reporting by Jim Wolf; Editing by Tim Dobbyn)
Navistar, JAC to Explore Diesel Engine Joint Venture in China
Navistar ~ October 30, 2009
WARRENVILLE, Ill.--(BUSINESS WIRE)--Navistar, Inc. and Anhui Jianghuai Automobile Co. Ltd. (“JAC”) will explore a potential engine joint venture to develop, build and market advanced diesel engines for commercial vehicles in China. The potential joint venture, if formed, would have a 50/50 ownership between Navistar, a leading U.S.-based maker of commercial vehicles, motor coaches and diesel engines, and JAC, a leading China-based maker of commercial and consumer vehicles and engines.
The proposed JV would establish a research and design center in China’s Anhui province for application engineering development, product design and technology advancements. Diesel engines produced by the new venture would primarily be used in China, as well as certain export markets.
“This proposed joint venture would bring together the resources of two leaders, JAC in China’s commercial vehicle segment and Navistar in the global diesel engine business,” said Eric Tech, president, Navistar Engine Group. “The result would yield outstanding advanced technology products for commercial truck owners throughout the region.”
“This key initiative would not only give JAC access to world-class engine products, technology and management but would also support our long-term business growth strategy,” said Zuo Yanan, Chairman, JAC.
Formation of the joint venture is subject to the completion of due diligence, approval by each party’s board of directors, negotiation of definitive agreements, corporate and regulatory approvals. Management structure would consist of eight directors, four from JAC and four from Navistar.
About JAC
Anhui Jianghuai Automobile Co. Ltd. (JAC) is principally engaged in the development, manufacture and sale of sport recreational vehicles, passenger cars, commercial vehicles and related parts. The company offers business vehicles under the brand name of Refine, light and heavy trucks, sports recreation vehicles (SRVs) under the brand name of Rein, carriage chassis and cars. http://jacen.jac.com.cn.
About Navistar
Navistar, Inc., the operating company of Navistar International Corporation (NYSE: NAV - News), produces International® brand commercial vehicles, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Additional information is available at www.Navistar.com/newsroom.
Contact:
Navistar
Business Media contact: Roy Wiley, 630-753-2627
Trade Media contact: Steve Schrier, 630-753-2264
Investor Contact: Heather Kos, 630-753-2406
Web site: www.Navistar.com/newsroom
WARRENVILLE, Ill.--(BUSINESS WIRE)--Navistar, Inc. and Anhui Jianghuai Automobile Co. Ltd. (“JAC”) will explore a potential engine joint venture to develop, build and market advanced diesel engines for commercial vehicles in China. The potential joint venture, if formed, would have a 50/50 ownership between Navistar, a leading U.S.-based maker of commercial vehicles, motor coaches and diesel engines, and JAC, a leading China-based maker of commercial and consumer vehicles and engines.
The proposed JV would establish a research and design center in China’s Anhui province for application engineering development, product design and technology advancements. Diesel engines produced by the new venture would primarily be used in China, as well as certain export markets.
“This proposed joint venture would bring together the resources of two leaders, JAC in China’s commercial vehicle segment and Navistar in the global diesel engine business,” said Eric Tech, president, Navistar Engine Group. “The result would yield outstanding advanced technology products for commercial truck owners throughout the region.”
“This key initiative would not only give JAC access to world-class engine products, technology and management but would also support our long-term business growth strategy,” said Zuo Yanan, Chairman, JAC.
Formation of the joint venture is subject to the completion of due diligence, approval by each party’s board of directors, negotiation of definitive agreements, corporate and regulatory approvals. Management structure would consist of eight directors, four from JAC and four from Navistar.
About JAC
Anhui Jianghuai Automobile Co. Ltd. (JAC) is principally engaged in the development, manufacture and sale of sport recreational vehicles, passenger cars, commercial vehicles and related parts. The company offers business vehicles under the brand name of Refine, light and heavy trucks, sports recreation vehicles (SRVs) under the brand name of Rein, carriage chassis and cars. http://jacen.jac.com.cn.
About Navistar
Navistar, Inc., the operating company of Navistar International Corporation (NYSE: NAV - News), produces International® brand commercial vehicles, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse® brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Additional information is available at www.Navistar.com/newsroom.
Contact:
Navistar
Business Media contact: Roy Wiley, 630-753-2627
Trade Media contact: Steve Schrier, 630-753-2264
Investor Contact: Heather Kos, 630-753-2406
Web site: www.Navistar.com/newsroom
Barnes Group Inc. Reports Third Quarter 2009 Financial Results
Revenues of $260.3 million for the third quarter 2009
Third quarter 2009 diluted EPS of $0.20, including restructuring charges
Year-to-date 2009 cash from operating activities improved 51% from the prior year period
Debt-to-Capital ratio improved to 35% as debt declined 23% from year-end 2008 to $360.7 million
Barnes Group Inc. ~ October 30, 2009
BRISTOL, Conn.--(BUSINESS WIRE)--Barnes Group Inc. (NYSE: B - News), a diversified global manufacturer and logistical services company, today reported financial results for the third quarter 2009. The Company reported income from continuing operations of $10.9 million, or $0.20 per diluted share, compared to $29.2 million, or $0.52 per diluted share in the prior year period. Included in the third quarter 2009 results are $3.4 million pre-tax ($1.7 million after-tax) of restructuring charges. Barnes Group’s third quarter 2009 sales totaled $260.3 million, down 22 percent from $333.8 million in the third quarter of 2008.
Barnes Group generated $125.7 million in cash from operations for the first nine months of 2009, reflecting an improvement of 51 percent over the prior year period level of $83.2 million. Cash flow generation driven by working capital improvements helped reduce debt to $360.7 million, a decline of 23 percent from year-end 2008. As a result, the Company’s third quarter 2009 debt-to-capital ratio improved to 35%. The Company’s September 30, 2009 total debt covenant ratio of 3.26 times was appreciably below the required level of 4.0 times. On December 31, 2009 the ratio requirement decreases to 3.75 times.
($ millions; except Three months ended September 30, Nine months ended September 30,
per share data) 2009 2008 Change 2009 2008 Change
Net Sales $ 260.3 $ 333.8 ($73.5 ) (22.0 ) % $ 777.7 $ 1,096.7 ($319.0 ) (29.1 ) %
Operating Income $ 14.6 $ 42.6 ($28.1 ) (65.8 ) % $ 49.2 $ 145.2 ($96.1 ) (66.1 ) %
% of Sales 5.6 % 12.8 % - (7.2 ) pts. 6.3 % 13.2 % - (6.9 ) pts.
Income from Continuing Operations $ 10.9 $ 29.2 ($18.3 ) (62.8 ) % $ 32.8 $ 98.2 ($65.4 ) (66.6 ) %
% of Sales 4.2 % 8.8 % - (4.6 ) pts. 4.2 % 9.0 % - (4.8 ) pts.
Net Income $ 10.9 $ 27.8 ($16.9 ) (60.8 ) % $ 32.8 $ 93.7 ($60.9 ) (65.0 ) %
% of Sales 4.2 % 8.3 % - (4.1 ) pts. 4.2 % 8.5 % - (4.3 ) pts.
Income from Continuing Operations Per Diluted Share $ 0.20 $ 0.52 ($0.32 ) (61.5 ) % $ 0.61 $ 1.73 ($1.12 ) (64.7 ) %
Net Income Per Diluted Share $ 0.20 $ 0.49 ($0.29 ) (59.2 ) % $ 0.61 $ 1.65 ($1.04 ) (63.0 ) %
“We have not yet seen the sustained signs of a turnaround in the global economy. The challenges posed in the third quarter were similar to what we have seen for the preceding six months in many of our end markets. However, we are optimistic about the prospects for economic improvement in 2010, so we continue to pursue internal initiatives we feel are essential to positioning Barnes Group for the future,” said Gregory F. Milzcik, President and Chief Executive Officer, Barnes Group Inc. “During the quarter we strengthened our balance sheet through substantial debt reductions driven by working capital improvements and made strategic investments in people and processes to maximize our competitive position for sustainable long-term growth.
“We are confident that we have positioned Barnes Group well to participate fully in a market recovery as conditions normalize. We are encouraged by the stabilizing trends we are seeing in our transportation and industrial manufacturing businesses and optimistic for an anticipated rebound in aerospace activity in the second half of 2010. We are committed to strengthening our capital structure, pursuing strategic revenue growth, and controlling costs as we navigate near-term economic challenges to maximize the value we bring to our customers and stockholders,” Milzcik added.
Logistics and Manufacturing Services
•Third quarter 2009 sales at Logistics and Manufacturing Services were $131.3 million, down 22 percent from $168.7 million in the same period last year. The decline in sales was driven by softness in the transportation and industrial markets throughout North America and Europe. Additionally, sales declines in the aftermarket aerospace market were driven by lower aircraft utilization and deferred maintenance activities. Foreign exchange negatively impacted sales by $1.8 million in the third quarter.
•Operating profit was $11.9 million, compared with $23.5 million in the third quarter of 2008. Operating profit was driven lower primarily by the reduced sales volumes in each of the businesses due to current macroeconomic conditions on our end-markets. Operational and productivity initiatives implemented in 2008 and throughout 2009 to align the cost structure with sales volumes continued to provide beneficial results that partially offset the adverse profit impact of declining sales.
Precision Components
•Third quarter 2009 sales at Precision Components were $130.0 million, down 23 percent from $168.4 million in the same period last year. The industrial manufacturing businesses in North America and Europe reported significant sales declines primarily resulting from the global recession and were most impacted by the recession’s effect on the transportation industry, most notably automotive. Additionally, sales decreased in the aerospace original equipment manufacturing business as customers reduced inventory and lowered production levels across the commercial engine portfolio. Foreign exchange adversely affected sales by $0.6 million in the third quarter.
•Operating profit for the third quarter of 2009 was $2.7 million, compared with $19.1 million in the third quarter of 2008. The profit impact of lower sales volumes was partially offset by the benefits of cost reduction actions, including personnel reductions and plant consolidations, taken in 2008 and early in 2009.
•Included in Precision Components third quarter 2009 results are $3.4 million (pre-tax) for restructuring charges taken during the third quarter. These actions included the moving of operations of the Burlington, Ontario, Canada facility and the previously idled Monterrey, Mexico facility. The assets and related work of these facilities will be transferred to other operations within the United States to provide a more cost effective manufacturing footprint and improved competitive advantage. The actions are expected to be completed by March 2010.
Additional Information
•Other income, net of other expenses, increased $1.1 million in the third quarter of 2009 compared to the same period of 2008 primarily as a result of a $1.5 million gain on the repurchase of certain convertible notes. Year-to-date, other income, net of other expenses increased $4.3 million, as a result of a $3.8 million gain on the repurchase of certain convertible notes.
•The Company’s effective tax rate from continuing operations for the first nine months of 2009 was 5.1 percent. Included in the year-to-date tax expense is a $1.6 million tax benefit related to the third quarter 2009 restructuring actions. Changes to the Company’s tax rate are largely based on changes in the projected mix of income between taxing jurisdictions.
Conference Call
The Company will conduct a conference call with investors to discuss third quarter 2009 results at 8:30 a.m. EDT today, October 30, 2009. A webcast of the live call and an archived replay will be available on the Barnes Group investor relations link at www.BGInc.com.
Barnes Group Inc. (NYSE:B - News) is a diversified global manufacturer and logistical services company focused on providing precision component manufacturing and operating service support. Founded in 1857, 4,900 dedicated employees at more than 60 locations worldwide are committed to achieving consistent and sustainable profitable growth. For more information, visit www.BGInc.com. Barnes Group, the Critical Components People.
This release may contain certain forward-looking statements as defined in the Private Securities Litigation and Reform Act of 1995. Forward-looking statements are made based upon management’s good faith expectations and beliefs concerning future developments and their potential effect upon the Company and can be identified by the use of words such as “anticipated,” “believe,” “expect,” “plans,” “strategy,” “estimate,” “project,” and other words of similar meaning in connection with a discussion of future operating or financial performance. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements. The risks and uncertainties, which are described in our periodic filings with the Securities and Exchange Commission, include, among others, uncertainties arising from the behavior of financial markets; future financial performance of the industries or customers that we serve; changes in market demand for our products and services; integration of acquired businesses; changes in raw material prices and availability; our dependence upon revenues and earnings from a small number of significant customers; uninsured claims; and numerous other matters of global, regional or national scale, including those of a political, economic, business, competitive, regulatory and public health nature. The Company assumes no obligation to update our forward-looking statements.
Third quarter 2009 diluted EPS of $0.20, including restructuring charges
Year-to-date 2009 cash from operating activities improved 51% from the prior year period
Debt-to-Capital ratio improved to 35% as debt declined 23% from year-end 2008 to $360.7 million
Barnes Group Inc. ~ October 30, 2009
BRISTOL, Conn.--(BUSINESS WIRE)--Barnes Group Inc. (NYSE: B - News), a diversified global manufacturer and logistical services company, today reported financial results for the third quarter 2009. The Company reported income from continuing operations of $10.9 million, or $0.20 per diluted share, compared to $29.2 million, or $0.52 per diluted share in the prior year period. Included in the third quarter 2009 results are $3.4 million pre-tax ($1.7 million after-tax) of restructuring charges. Barnes Group’s third quarter 2009 sales totaled $260.3 million, down 22 percent from $333.8 million in the third quarter of 2008.
Barnes Group generated $125.7 million in cash from operations for the first nine months of 2009, reflecting an improvement of 51 percent over the prior year period level of $83.2 million. Cash flow generation driven by working capital improvements helped reduce debt to $360.7 million, a decline of 23 percent from year-end 2008. As a result, the Company’s third quarter 2009 debt-to-capital ratio improved to 35%. The Company’s September 30, 2009 total debt covenant ratio of 3.26 times was appreciably below the required level of 4.0 times. On December 31, 2009 the ratio requirement decreases to 3.75 times.
($ millions; except Three months ended September 30, Nine months ended September 30,
per share data) 2009 2008 Change 2009 2008 Change
Net Sales $ 260.3 $ 333.8 ($73.5 ) (22.0 ) % $ 777.7 $ 1,096.7 ($319.0 ) (29.1 ) %
Operating Income $ 14.6 $ 42.6 ($28.1 ) (65.8 ) % $ 49.2 $ 145.2 ($96.1 ) (66.1 ) %
% of Sales 5.6 % 12.8 % - (7.2 ) pts. 6.3 % 13.2 % - (6.9 ) pts.
Income from Continuing Operations $ 10.9 $ 29.2 ($18.3 ) (62.8 ) % $ 32.8 $ 98.2 ($65.4 ) (66.6 ) %
% of Sales 4.2 % 8.8 % - (4.6 ) pts. 4.2 % 9.0 % - (4.8 ) pts.
Net Income $ 10.9 $ 27.8 ($16.9 ) (60.8 ) % $ 32.8 $ 93.7 ($60.9 ) (65.0 ) %
% of Sales 4.2 % 8.3 % - (4.1 ) pts. 4.2 % 8.5 % - (4.3 ) pts.
Income from Continuing Operations Per Diluted Share $ 0.20 $ 0.52 ($0.32 ) (61.5 ) % $ 0.61 $ 1.73 ($1.12 ) (64.7 ) %
Net Income Per Diluted Share $ 0.20 $ 0.49 ($0.29 ) (59.2 ) % $ 0.61 $ 1.65 ($1.04 ) (63.0 ) %
“We have not yet seen the sustained signs of a turnaround in the global economy. The challenges posed in the third quarter were similar to what we have seen for the preceding six months in many of our end markets. However, we are optimistic about the prospects for economic improvement in 2010, so we continue to pursue internal initiatives we feel are essential to positioning Barnes Group for the future,” said Gregory F. Milzcik, President and Chief Executive Officer, Barnes Group Inc. “During the quarter we strengthened our balance sheet through substantial debt reductions driven by working capital improvements and made strategic investments in people and processes to maximize our competitive position for sustainable long-term growth.
“We are confident that we have positioned Barnes Group well to participate fully in a market recovery as conditions normalize. We are encouraged by the stabilizing trends we are seeing in our transportation and industrial manufacturing businesses and optimistic for an anticipated rebound in aerospace activity in the second half of 2010. We are committed to strengthening our capital structure, pursuing strategic revenue growth, and controlling costs as we navigate near-term economic challenges to maximize the value we bring to our customers and stockholders,” Milzcik added.
Logistics and Manufacturing Services
•Third quarter 2009 sales at Logistics and Manufacturing Services were $131.3 million, down 22 percent from $168.7 million in the same period last year. The decline in sales was driven by softness in the transportation and industrial markets throughout North America and Europe. Additionally, sales declines in the aftermarket aerospace market were driven by lower aircraft utilization and deferred maintenance activities. Foreign exchange negatively impacted sales by $1.8 million in the third quarter.
•Operating profit was $11.9 million, compared with $23.5 million in the third quarter of 2008. Operating profit was driven lower primarily by the reduced sales volumes in each of the businesses due to current macroeconomic conditions on our end-markets. Operational and productivity initiatives implemented in 2008 and throughout 2009 to align the cost structure with sales volumes continued to provide beneficial results that partially offset the adverse profit impact of declining sales.
Precision Components
•Third quarter 2009 sales at Precision Components were $130.0 million, down 23 percent from $168.4 million in the same period last year. The industrial manufacturing businesses in North America and Europe reported significant sales declines primarily resulting from the global recession and were most impacted by the recession’s effect on the transportation industry, most notably automotive. Additionally, sales decreased in the aerospace original equipment manufacturing business as customers reduced inventory and lowered production levels across the commercial engine portfolio. Foreign exchange adversely affected sales by $0.6 million in the third quarter.
•Operating profit for the third quarter of 2009 was $2.7 million, compared with $19.1 million in the third quarter of 2008. The profit impact of lower sales volumes was partially offset by the benefits of cost reduction actions, including personnel reductions and plant consolidations, taken in 2008 and early in 2009.
•Included in Precision Components third quarter 2009 results are $3.4 million (pre-tax) for restructuring charges taken during the third quarter. These actions included the moving of operations of the Burlington, Ontario, Canada facility and the previously idled Monterrey, Mexico facility. The assets and related work of these facilities will be transferred to other operations within the United States to provide a more cost effective manufacturing footprint and improved competitive advantage. The actions are expected to be completed by March 2010.
Additional Information
•Other income, net of other expenses, increased $1.1 million in the third quarter of 2009 compared to the same period of 2008 primarily as a result of a $1.5 million gain on the repurchase of certain convertible notes. Year-to-date, other income, net of other expenses increased $4.3 million, as a result of a $3.8 million gain on the repurchase of certain convertible notes.
•The Company’s effective tax rate from continuing operations for the first nine months of 2009 was 5.1 percent. Included in the year-to-date tax expense is a $1.6 million tax benefit related to the third quarter 2009 restructuring actions. Changes to the Company’s tax rate are largely based on changes in the projected mix of income between taxing jurisdictions.
Conference Call
The Company will conduct a conference call with investors to discuss third quarter 2009 results at 8:30 a.m. EDT today, October 30, 2009. A webcast of the live call and an archived replay will be available on the Barnes Group investor relations link at www.BGInc.com.
Barnes Group Inc. (NYSE:B - News) is a diversified global manufacturer and logistical services company focused on providing precision component manufacturing and operating service support. Founded in 1857, 4,900 dedicated employees at more than 60 locations worldwide are committed to achieving consistent and sustainable profitable growth. For more information, visit www.BGInc.com. Barnes Group, the Critical Components People.
This release may contain certain forward-looking statements as defined in the Private Securities Litigation and Reform Act of 1995. Forward-looking statements are made based upon management’s good faith expectations and beliefs concerning future developments and their potential effect upon the Company and can be identified by the use of words such as “anticipated,” “believe,” “expect,” “plans,” “strategy,” “estimate,” “project,” and other words of similar meaning in connection with a discussion of future operating or financial performance. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements. The risks and uncertainties, which are described in our periodic filings with the Securities and Exchange Commission, include, among others, uncertainties arising from the behavior of financial markets; future financial performance of the industries or customers that we serve; changes in market demand for our products and services; integration of acquired businesses; changes in raw material prices and availability; our dependence upon revenues and earnings from a small number of significant customers; uninsured claims; and numerous other matters of global, regional or national scale, including those of a political, economic, business, competitive, regulatory and public health nature. The Company assumes no obligation to update our forward-looking statements.
Defenshield Anti-Piracy Equipment Appears on CNN
Defenshield Inc. ~ October 30, 2009
JACKSONVILLE, Fla., Oct. 30 /PRNewswire/ -- Defenshield's bullet and blast resistant Rail Cap appeared on CNN's "The Situation Room with Wolf Blitzer" this week in a segment on ships fighting back against piracy. A video of the show is currently available on CNN's website at http://edition.cnn.com/video/#/video/us/2009/10/28/todd.piracy.countermeasures.cnn.
With the recent hijacking of ships off the coast of Somalia, particularly the British couple apparently kidnapped from their yacht and still being held hostage, the problem of piracy has become more prevalent and visible, and shipping companies and operators are fighting back.
Defenshield is working with International Maritime Security Network (IMSN) to share product knowledge and expertise to protect commercial ships from a variety of threats, primarily in an anti-piracy capacity. The Defenshield Rail Cap is an engineered ballistic solution that can be used in a variety of situations where protection from a range of small arms, up to RPG weaponry, is necessary aboard shipping vessels. It is part of IMSN's "Triton Shield Anti-Piracy System" which encompasses Defenshield's Rail Cap as well as IMSN's training, water system, and security team, and cameras produced by EyeOn Security Systems.
Defenshield is a global supplier of engineered glass and armor ballistic solutions. Its products are widely used in combat in Iraq and Afghanistan as well as at entry control points on military posts throughout the United States and the world.
International Maritime Security Network's mission is to detect, deter and defend against maritime threats worldwide. IMSN training prepares clients to efficiently detect and intelligently evaluate potential threats, and imparts the practical knowledge, tactical capability and invaluable sense of responsibility to provide for smarter security, secure clients and safer seas. For more information, visit www.imsn.us or call (724) 356-4676.
Defenshield Inc. is a veteran-owned, SBA-certified small business specializing in armor systems for law enforcement, public security, homeland defense and the military. The Defenshield product line offers the highest level of security, defeating armor-piercing weaponry, assault and sniper rifles, as well as handgun and shotgun rounds. For more information, visit www.defenshield.com or call (800) 650-2921.
JACKSONVILLE, Fla., Oct. 30 /PRNewswire/ -- Defenshield's bullet and blast resistant Rail Cap appeared on CNN's "The Situation Room with Wolf Blitzer" this week in a segment on ships fighting back against piracy. A video of the show is currently available on CNN's website at http://edition.cnn.com/video/#/video/us/2009/10/28/todd.piracy.countermeasures.cnn.
With the recent hijacking of ships off the coast of Somalia, particularly the British couple apparently kidnapped from their yacht and still being held hostage, the problem of piracy has become more prevalent and visible, and shipping companies and operators are fighting back.
Defenshield is working with International Maritime Security Network (IMSN) to share product knowledge and expertise to protect commercial ships from a variety of threats, primarily in an anti-piracy capacity. The Defenshield Rail Cap is an engineered ballistic solution that can be used in a variety of situations where protection from a range of small arms, up to RPG weaponry, is necessary aboard shipping vessels. It is part of IMSN's "Triton Shield Anti-Piracy System" which encompasses Defenshield's Rail Cap as well as IMSN's training, water system, and security team, and cameras produced by EyeOn Security Systems.
Defenshield is a global supplier of engineered glass and armor ballistic solutions. Its products are widely used in combat in Iraq and Afghanistan as well as at entry control points on military posts throughout the United States and the world.
International Maritime Security Network's mission is to detect, deter and defend against maritime threats worldwide. IMSN training prepares clients to efficiently detect and intelligently evaluate potential threats, and imparts the practical knowledge, tactical capability and invaluable sense of responsibility to provide for smarter security, secure clients and safer seas. For more information, visit www.imsn.us or call (724) 356-4676.
Defenshield Inc. is a veteran-owned, SBA-certified small business specializing in armor systems for law enforcement, public security, homeland defense and the military. The Defenshield product line offers the highest level of security, defeating armor-piercing weaponry, assault and sniper rifles, as well as handgun and shotgun rounds. For more information, visit www.defenshield.com or call (800) 650-2921.
Universal Detection Technology Brings Anthrax Detection Kits and Bioterrorism Prevention Training to Milipol Paris 2009
Recent Report by U.S. Led Commission on Prevention of Weapons of Mass Destruction Proliferation and Terrorism Reveals Growing Threat of Bio-Weapons; International Security Community to Witness Latest in First Responder Technology
Universal Detection Technology ~ October 30, 2009
LOS ANGELES, CA--(Marketwire - 10/30/09) - Universal Detection Technology (www.udetection.com) (OTC.BB:UNDT - News), a developer of early-warning monitoring technologies and counter-terrorism training programs to protect people from bioterrorism and other infectious health threats, announced today that it will showcase the latest developments in bio-weapons detection technology, including the TS-10-5-agent biodetection kit, at Milipol Paris 2009.
"Our presence at Milipol comes at a time when international security experts are admonishing government agencies to be prepared for the real threat of a bioterrorism attack," said Jacques Tizabi, CEO of Universal Detection Technology. "Bio-weapon detection should be a top priority for all public entities, because for terrorists, they can be purchased or engineered at relatively low costs, can induce mass casualties and are oftentimes undetected by on-the-ground law enforcement," continued Tizabi.
The Commission on Prevention of Weapons of Mass Destruction Proliferation and Terrorism, assembled by the United States Congress post 9/11, issued an interim report last week that called bioterrorism the "most urgent threat" facing the United States. The report said that national security for anti-bioterrorism programs and "appropriate disease surveillance" were severely underfunded and neglected.
"There are bio-weapon monitoring tools immediately available for public and private entities, easy to implement and cost effective," said Tizabi. "Universal Detection Technology's biodetection kits are the first step in meeting the needs of bioterrorism prevention and planning," continued Tizabi.
Universal Detection Technology's kits, certified earlier this year by the U.S. Department of Homeland Security as an "Approved Product for Homeland Security," are the industry's only hand-held assay designed to detect and identify up to five separate threats using one sample in a single, easy-to-use device. The kits equip first responders with an effective tool for the rapid onsite detection of up to five biological warfare agents: anthrax, ricin, botulinum toxin, Y. pestis (plague) and Staphylococcal Enterotoxin B (SEB). Detection time is under three minutes.
Universal Detection Technology will showcase its TS-10-5-agent biodetection kit with live and taped demonstrations at booth #11K059 at Milipol Paris 2009, held November 17 - 21, 2009. Members of UNDT's executive team, including R&D and business development, will be present to answer questions about the products and the company.
Prior to Milipol Paris 2009, Universal Detection Technology will be presenting its biodetection kits to the 2012 London Olympics organizers at the 2009 Terrorism & Security Conference, to be held in London November 17th and 18th.
UNDT has also recently signed agreements with the U.S. Department of Commerce to be the featured exporter of bioterrorism detection equipment in France and South Korea.
For more information, please visit www.udetection.com or email info@udetection.com.
About Universal Detection Technology
Universal Detection Technology is a developer of monitoring technologies, including bioterrorism detection devices. The company on its own and with development partners is positioned to capitalize on opportunities related to Homeland Security. For example, Universal Detection Technology, in cooperation with NASA, has developed a bacterial spore detector that detects certain biohazard substances. The company is also a reseller of handheld assays used for detection of five bioterrorism agents, radiation detection systems and antimicrobial products. www.udetection.com.
Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve known and unknown risks and uncertainties, which may cause the Company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact:
Stefan Pollack/Jonathan Younger
The Pollack PR Marketing Group
310-556-4443
Email Contact
Email Contactor
Company Contact:
Jacques Tizabi
310-248-3655
Email Contact
Universal Detection Technology ~ October 30, 2009
LOS ANGELES, CA--(Marketwire - 10/30/09) - Universal Detection Technology (www.udetection.com) (OTC.BB:UNDT - News), a developer of early-warning monitoring technologies and counter-terrorism training programs to protect people from bioterrorism and other infectious health threats, announced today that it will showcase the latest developments in bio-weapons detection technology, including the TS-10-5-agent biodetection kit, at Milipol Paris 2009.
"Our presence at Milipol comes at a time when international security experts are admonishing government agencies to be prepared for the real threat of a bioterrorism attack," said Jacques Tizabi, CEO of Universal Detection Technology. "Bio-weapon detection should be a top priority for all public entities, because for terrorists, they can be purchased or engineered at relatively low costs, can induce mass casualties and are oftentimes undetected by on-the-ground law enforcement," continued Tizabi.
The Commission on Prevention of Weapons of Mass Destruction Proliferation and Terrorism, assembled by the United States Congress post 9/11, issued an interim report last week that called bioterrorism the "most urgent threat" facing the United States. The report said that national security for anti-bioterrorism programs and "appropriate disease surveillance" were severely underfunded and neglected.
"There are bio-weapon monitoring tools immediately available for public and private entities, easy to implement and cost effective," said Tizabi. "Universal Detection Technology's biodetection kits are the first step in meeting the needs of bioterrorism prevention and planning," continued Tizabi.
Universal Detection Technology's kits, certified earlier this year by the U.S. Department of Homeland Security as an "Approved Product for Homeland Security," are the industry's only hand-held assay designed to detect and identify up to five separate threats using one sample in a single, easy-to-use device. The kits equip first responders with an effective tool for the rapid onsite detection of up to five biological warfare agents: anthrax, ricin, botulinum toxin, Y. pestis (plague) and Staphylococcal Enterotoxin B (SEB). Detection time is under three minutes.
Universal Detection Technology will showcase its TS-10-5-agent biodetection kit with live and taped demonstrations at booth #11K059 at Milipol Paris 2009, held November 17 - 21, 2009. Members of UNDT's executive team, including R&D and business development, will be present to answer questions about the products and the company.
Prior to Milipol Paris 2009, Universal Detection Technology will be presenting its biodetection kits to the 2012 London Olympics organizers at the 2009 Terrorism & Security Conference, to be held in London November 17th and 18th.
UNDT has also recently signed agreements with the U.S. Department of Commerce to be the featured exporter of bioterrorism detection equipment in France and South Korea.
For more information, please visit www.udetection.com or email info@udetection.com.
About Universal Detection Technology
Universal Detection Technology is a developer of monitoring technologies, including bioterrorism detection devices. The company on its own and with development partners is positioned to capitalize on opportunities related to Homeland Security. For example, Universal Detection Technology, in cooperation with NASA, has developed a bacterial spore detector that detects certain biohazard substances. The company is also a reseller of handheld assays used for detection of five bioterrorism agents, radiation detection systems and antimicrobial products. www.udetection.com.
Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve known and unknown risks and uncertainties, which may cause the Company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact:
Stefan Pollack/Jonathan Younger
The Pollack PR Marketing Group
310-556-4443
Email Contact
Email Contactor
Company Contact:
Jacques Tizabi
310-248-3655
Email Contact
MoneyTV with Donald Baillargeon, 10/30
MoneyTV; Xsunx, Inc.; Universal Detection Technology; Platinum Studios, Inc.; Lucas Energy, Inc.; Brewer Investment Group ~ Friday October 30, 2009
LOS ANGELES, CA--(Marketwire - 10/30/09) - Solar power's burgeoning growth, Hollywood studio on the rise, detecting bioterrorism at the Olympics, Forex, domestic oil production; this week on MoneyTV, hosted by anchor Donald Baillargeon. MoneyTV is the internationally syndicated television program all about money and what makes it happen (http://www.moneytv.net), featuring informative interviews with company CEOs, providing insights into their operations and outlooks for their futures.
Free information packages from the featured companies can be requested by sending an email to info@moneytv.net.
The television program can also be viewed online immediately at www.moneytv.net.
Featured companies on this week's program include:
XsunX, Inc. (OTC.BB:XSNX - News) CEO Tom Djokovich talked about the growth of the solar industry as evidenced by the Solar Power International show he attended in Anaheim and reported on the progress the company has made with its new thin film manufacturing process, expecting a working sample by year's end.
Universal Detection Technology (OTC.BB:UNDT - News) CEO Jacques Tizabi announced the company would be traveling to London to present their bio-terrorism detection technology to the 2012 London Olympics.
Platinum Studios, Inc. (OTC.BB:PDOS - News) COO Brian Altounian talked about the status of existing film projects, announced new deals in the works and offered a perspective of the company's value in the wake of Disney's $4 billion buyout of Marvel.
Brewer Investment Group Chief Market Analyst Jim Hyerczyk analyzed the U.S. dollar's roller coaster week.
Lucas Energy, Inc. (AMEX:LEI - News) CEO William Sawyer discussed details behind the company's most recent press release.
Viewers of MoneyTV can receive free information in the mail about featured companies by calling the toll-free phone number on their TV screen. The weekly television program debuted in 1996 and is broadcast nationally in the USA to 70 million U.S. homes on Saturdays at 11:00 AM ET, Sundays at 8:30 AM PT, 8:30 AM ET, 9:30 AM ET, 3:30 PM ET and Mondays at 6:30 PM ET.
MoneyTV is also broadcast to 48 million TV homes in Western Europe, the 21 Caribbean Territories on CaribVision Network and in Asia on Familyland Network.
A complete menu of TV listings is available at the MoneyTV web site, http://www.moneytv.net.
MoneyTV Executive Producer and Anchor Don Baillargeon is also the host of the radio program MoneyRap Radio, http://www.moneyrap.com and the television show Health This Week, http://www.healththisweek.com. For more information about Don, visit http://www.donaldbaillargeon.com.
MoneyTV television program, Copyright MMIX all rights reserved. MoneyTV does not provide an analysis of companies' financial positions and is not soliciting to purchase or sell securities of the companies, nor are we offering a recommendation of featured companies or their stocks. Information discussed herein has been provided by the companies and should be verified independently with the companies and a securities analyst. MoneyTV provides companies a 3 to 4 month corporate profile with multiple appearances for a cash fee of $11,500.00 to $17,250.00, does not accept company stock as payment for services, does not hold any positions, options or warrants in featured companies. The information herein is not an endorsement by Donald Baillargeon, the producers, publisher or parent company of MoneyTV.
Contact:
Donald Baillargeon
Executive Producer
MoneyTV
949 388 5267
Info@moneytv.net
LOS ANGELES, CA--(Marketwire - 10/30/09) - Solar power's burgeoning growth, Hollywood studio on the rise, detecting bioterrorism at the Olympics, Forex, domestic oil production; this week on MoneyTV, hosted by anchor Donald Baillargeon. MoneyTV is the internationally syndicated television program all about money and what makes it happen (http://www.moneytv.net), featuring informative interviews with company CEOs, providing insights into their operations and outlooks for their futures.
Free information packages from the featured companies can be requested by sending an email to info@moneytv.net.
The television program can also be viewed online immediately at www.moneytv.net.
Featured companies on this week's program include:
XsunX, Inc. (OTC.BB:XSNX - News) CEO Tom Djokovich talked about the growth of the solar industry as evidenced by the Solar Power International show he attended in Anaheim and reported on the progress the company has made with its new thin film manufacturing process, expecting a working sample by year's end.
Universal Detection Technology (OTC.BB:UNDT - News) CEO Jacques Tizabi announced the company would be traveling to London to present their bio-terrorism detection technology to the 2012 London Olympics.
Platinum Studios, Inc. (OTC.BB:PDOS - News) COO Brian Altounian talked about the status of existing film projects, announced new deals in the works and offered a perspective of the company's value in the wake of Disney's $4 billion buyout of Marvel.
Brewer Investment Group Chief Market Analyst Jim Hyerczyk analyzed the U.S. dollar's roller coaster week.
Lucas Energy, Inc. (AMEX:LEI - News) CEO William Sawyer discussed details behind the company's most recent press release.
Viewers of MoneyTV can receive free information in the mail about featured companies by calling the toll-free phone number on their TV screen. The weekly television program debuted in 1996 and is broadcast nationally in the USA to 70 million U.S. homes on Saturdays at 11:00 AM ET, Sundays at 8:30 AM PT, 8:30 AM ET, 9:30 AM ET, 3:30 PM ET and Mondays at 6:30 PM ET.
MoneyTV is also broadcast to 48 million TV homes in Western Europe, the 21 Caribbean Territories on CaribVision Network and in Asia on Familyland Network.
A complete menu of TV listings is available at the MoneyTV web site, http://www.moneytv.net.
MoneyTV Executive Producer and Anchor Don Baillargeon is also the host of the radio program MoneyRap Radio, http://www.moneyrap.com and the television show Health This Week, http://www.healththisweek.com. For more information about Don, visit http://www.donaldbaillargeon.com.
MoneyTV television program, Copyright MMIX all rights reserved. MoneyTV does not provide an analysis of companies' financial positions and is not soliciting to purchase or sell securities of the companies, nor are we offering a recommendation of featured companies or their stocks. Information discussed herein has been provided by the companies and should be verified independently with the companies and a securities analyst. MoneyTV provides companies a 3 to 4 month corporate profile with multiple appearances for a cash fee of $11,500.00 to $17,250.00, does not accept company stock as payment for services, does not hold any positions, options or warrants in featured companies. The information herein is not an endorsement by Donald Baillargeon, the producers, publisher or parent company of MoneyTV.
Contact:
Donald Baillargeon
Executive Producer
MoneyTV
949 388 5267
Info@moneytv.net
A New Audio Interview with President and CEO, Josef Obermeier, of The Mundus Group, Inc. is Now Available at SmallCapVoice.com
SmallCapVoice.com, Inc. ~ October 30, 2009
AUSTIN, Texas--(BUSINESS WIRE)--SmallCapVoice.com, Inc. announced today that a new audio interview featuring The Mundus Group, Inc. (Pink Sheets: MNDP - News) is now available. The interview can be heard at http://smallcapvoice.com/blog/tag/mndp/.
SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its clients' financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks they are interested in. Tools like stock charts, stock alerts, and investor fact sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets. To learn more about SmallCapVoice.com and their services, please visit http://www.smallcapvoice.com/services.html.
About The Mundus Group, Inc.
The Mundus Group, Inc. is an advanced aerospace technology consortium providing patented Vertical Take Off and Landing (VTOL) technology for experimental aircraft and Unmanned Air Vehicles (UAV) since 1990 through its fully owned VTOL division, Roadable Aircraft International (RAI).
Mundus is at the cutting edge of jet turbine-ducted fan technology and fuses state of the art design engineering and a prototyping facility with computer assisted auto flight technologies, Remote Controlled (RC) and composite technologies industry segments.
From US Navy co-developed UAVs for aerial observation and environmental testing to advanced VTOL aerospace technology for civilian and military uses, Mundus Group, Inc. is developing revolutionary products with global potential for change that offers economic protection and growth opportunities for investors.
This news announcement may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance and achievements of the company to be materially different from any future results, performance or achievements expressed or implied, and are subject to those risks discussed in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2008, as amended, and other reports and amendments thereto filed with Securities and Exchange Commission which are available for review at www.sec.gov.
Contact:
SmallCapVoice.com, Inc.
Stuart T. Smith,
512-267-2430
info@smallcapvoice.com
AUSTIN, Texas--(BUSINESS WIRE)--SmallCapVoice.com, Inc. announced today that a new audio interview featuring The Mundus Group, Inc. (Pink Sheets: MNDP - News) is now available. The interview can be heard at http://smallcapvoice.com/blog/tag/mndp/.
SmallCapVoice.com is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its clients' financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks they are interested in. Tools like stock charts, stock alerts, and investor fact sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets. To learn more about SmallCapVoice.com and their services, please visit http://www.smallcapvoice.com/services.html.
About The Mundus Group, Inc.
The Mundus Group, Inc. is an advanced aerospace technology consortium providing patented Vertical Take Off and Landing (VTOL) technology for experimental aircraft and Unmanned Air Vehicles (UAV) since 1990 through its fully owned VTOL division, Roadable Aircraft International (RAI).
Mundus is at the cutting edge of jet turbine-ducted fan technology and fuses state of the art design engineering and a prototyping facility with computer assisted auto flight technologies, Remote Controlled (RC) and composite technologies industry segments.
From US Navy co-developed UAVs for aerial observation and environmental testing to advanced VTOL aerospace technology for civilian and military uses, Mundus Group, Inc. is developing revolutionary products with global potential for change that offers economic protection and growth opportunities for investors.
This news announcement may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance and achievements of the company to be materially different from any future results, performance or achievements expressed or implied, and are subject to those risks discussed in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2008, as amended, and other reports and amendments thereto filed with Securities and Exchange Commission which are available for review at www.sec.gov.
Contact:
SmallCapVoice.com, Inc.
Stuart T. Smith,
512-267-2430
info@smallcapvoice.com
Aruba Networks Ranked 17th Fastest Growing Company in North America on Deloitte's 2009 Technology Fast 500(TM)
Rapid Revenue Growth Driven by Best-in-Class Customer Support, Delivered Value of Solutions, and Technological Innovation
Aruba Networks, Inc. ~ October 30, 2009
SUNNYVALE, CA--(Marketwire - 10/30/09) - Aruba Networks, Inc. (NASDAQ:ARUN - News), a global leader in 802.11n wireless LANs and secure mobility solutions, today announced that it was ranked number 17 on Technology Fast 500(TM), Deloitte LLP's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. The ranking is based on fiscal year revenue growth during the five year period from 2004 to 2008. During this period Aruba's revenue grew to $178.26 million in 2008.
"Our growth has been fueled by an unwavering commitment to customer service, maximizing the delivered value of our solutions, and technological innovation," said Dominic Orr, Aruba's President and Chief Executive Officer. "These attributes have resonated with users, for whom our solutions have increased operating efficiency and productivity while cutting capital and operating expenses. As a result our market share has climbed, positioning Aruba as the world's second largest enterprise wireless LAN vendor with an installed base of over 8,000 customers."
"Technology Fast 500 recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth," said Phil Asmundson, Vice Chairman and U.S. Technology, Media and Telecommunications leader, Deloitte LLP. "We congratulate Aruba on this accomplishment."
"With its impressive five-year growth, Aruba has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America," said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP. "Deloitte is proud to honor Aruba for its achievement."
Overall, Technology Fast 500 award winners for 2009 had growth rates ranging from 212 to 146,050 percent over five years, with an average growth rate of 2,486 percent.
Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500 Web site, and public company database research conducted by Deloitte. Technology Fast 500 award winners for 2009 are selected based on percentage fiscal year revenue growth during the five year period from 2004 to 2008.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.
Technology Fast 500 award eligibility requirements also include base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. These revenues must have more than doubled between 2004 and 2008. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Aruba Networks
People move. Networks must follow. Aruba securely delivers networks to users, wherever they work or roam, using a combination of award-winning solutions:
-- Adaptive 802.11n Wi-Fi networks optimize themselves to ensure that
users are always within reach of mission-critical information. Rightsizing
expensive wired LANs by replacing them with high-speed 802.11n Wi-Fi
reduces both capital and operating expenses;
-- Identity-based security assigns access policies to users, enforcing
those policies whenever and wherever a network is accessed;
-- Remote networking solutions for branch offices, fixed telecommuters,
and satellite facilities ensures uninterrupted remote access to
applications;
-- Multi-vendor network management provides a single point of control
while managing both legacy and new wireless networks from Aruba and its
competitors.
The cost, convenience, and security benefits of our secure mobility solutions are fundamentally changing how and where we work. Listed on the NASDAQ and Russell 2000� Index, Aruba is based in Sunnyvale, California, and has operations throughout the Americas, Europe, Middle East, and Asia Pacific regions. To learn more, visit Aruba at http://www.arubanetworks.com. For real-time news updates follow Aruba on Twitter at http://twitter.com/ArubaNetworks.
About Deloitte
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about
for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
� 2009 Aruba Networks, Inc. AirWave�, Aruba Networks�, Aruba Mobility Management System�, Bluescanner, For Wireless That Works�, Mobile Edge Architecture, People Move. Networks Must Follow., RFProtect, The All Wireless Workplace Is Now Open For Business, Green Island, and The Mobile Edge Company� are trademarks of Aruba Networks, Inc. All rights reserved. All other trademarks are the property of their respective owners.
Contact:
Media Contacts:
Michael Tennefoss
Aruba Networks, Inc.
+1-408-754-8034
mtennefoss@arubanetworks.com
Patty Oien
Breakaway Communications
+1-415-358-2482
poien@breakawaycom.com
Aruba Networks, Inc. ~ October 30, 2009
SUNNYVALE, CA--(Marketwire - 10/30/09) - Aruba Networks, Inc. (NASDAQ:ARUN - News), a global leader in 802.11n wireless LANs and secure mobility solutions, today announced that it was ranked number 17 on Technology Fast 500(TM), Deloitte LLP's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. The ranking is based on fiscal year revenue growth during the five year period from 2004 to 2008. During this period Aruba's revenue grew to $178.26 million in 2008.
"Our growth has been fueled by an unwavering commitment to customer service, maximizing the delivered value of our solutions, and technological innovation," said Dominic Orr, Aruba's President and Chief Executive Officer. "These attributes have resonated with users, for whom our solutions have increased operating efficiency and productivity while cutting capital and operating expenses. As a result our market share has climbed, positioning Aruba as the world's second largest enterprise wireless LAN vendor with an installed base of over 8,000 customers."
"Technology Fast 500 recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth," said Phil Asmundson, Vice Chairman and U.S. Technology, Media and Telecommunications leader, Deloitte LLP. "We congratulate Aruba on this accomplishment."
"With its impressive five-year growth, Aruba has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America," said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP. "Deloitte is proud to honor Aruba for its achievement."
Overall, Technology Fast 500 award winners for 2009 had growth rates ranging from 212 to 146,050 percent over five years, with an average growth rate of 2,486 percent.
Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500 Web site, and public company database research conducted by Deloitte. Technology Fast 500 award winners for 2009 are selected based on percentage fiscal year revenue growth during the five year period from 2004 to 2008.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.
Technology Fast 500 award eligibility requirements also include base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. These revenues must have more than doubled between 2004 and 2008. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Aruba Networks
People move. Networks must follow. Aruba securely delivers networks to users, wherever they work or roam, using a combination of award-winning solutions:
-- Adaptive 802.11n Wi-Fi networks optimize themselves to ensure that
users are always within reach of mission-critical information. Rightsizing
expensive wired LANs by replacing them with high-speed 802.11n Wi-Fi
reduces both capital and operating expenses;
-- Identity-based security assigns access policies to users, enforcing
those policies whenever and wherever a network is accessed;
-- Remote networking solutions for branch offices, fixed telecommuters,
and satellite facilities ensures uninterrupted remote access to
applications;
-- Multi-vendor network management provides a single point of control
while managing both legacy and new wireless networks from Aruba and its
competitors.
The cost, convenience, and security benefits of our secure mobility solutions are fundamentally changing how and where we work. Listed on the NASDAQ and Russell 2000� Index, Aruba is based in Sunnyvale, California, and has operations throughout the Americas, Europe, Middle East, and Asia Pacific regions. To learn more, visit Aruba at http://www.arubanetworks.com. For real-time news updates follow Aruba on Twitter at http://twitter.com/ArubaNetworks.
About Deloitte
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about
for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
� 2009 Aruba Networks, Inc. AirWave�, Aruba Networks�, Aruba Mobility Management System�, Bluescanner, For Wireless That Works�, Mobile Edge Architecture, People Move. Networks Must Follow., RFProtect, The All Wireless Workplace Is Now Open For Business, Green Island, and The Mobile Edge Company� are trademarks of Aruba Networks, Inc. All rights reserved. All other trademarks are the property of their respective owners.
Contact:
Media Contacts:
Michael Tennefoss
Aruba Networks, Inc.
+1-408-754-8034
mtennefoss@arubanetworks.com
Patty Oien
Breakaway Communications
+1-415-358-2482
poien@breakawaycom.com
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