Saturday, February 27, 2010

Radiant Energy Corporation Announces 2009 Year End Results

Defense News ~ TORONTO, ONTARIO--(Marketwire - 02/26/10) - Radiant Energy Corporation (TSX-V:RDT - News) ("Radiant" or the "Company") (amounts in U.S. dollars), the developer and marketer of radiant aircraft de-icing systems, announced its results for the year ended October 31, 2009, which are also available on SEDAR.

The Company reported a loss of $2,048,453, or $0.01 per share for the year ended October 31, 2009 compared with a loss of $3,831,130, or $0.02 per share for the year ended October 31, 2008. The loss reported for 2009 from the Company's continuing operations was $1,838,622 compared with a loss for the 2008 year of $3,534,365. Revenues of $431,948 for the year ended October 31, 2009 were sixty percent higher than in 2008. Operating expenses decreased substantially during 2009 as a result of a reduction of accruals related to the dismantling of a de-icing facility expensed in the prior year, lower amounts recorded on the granting of stock options, lower professional fees and other cost reductions. The results of the Company's Norwegian operation are reported as a discontinued operation in the Company's consolidated financial statements. Losses from the discontinued operation of $209,831 resulted from foreign exchange translation.

For the three months ended October 31, 2009, the Company reported a loss of $431,876 compared with income $759,169 for the three-month period ended October 31, 2008. The loss from continuing operations of $344,726 for the three-month period in 2009 was $513,533 lower than the loss of $858,259 in 2008, as a result of lower operating costs, the positive impact of a foreign exchange translation gain and a decrease in losses from debt settlements. A loss of $87,150 for the discontinued operation for the three month period ended October 31, 2009 resulted from foreign exchange translation. This compared with a large gain in the prior year period of $1,617,428 resulting from debt settlement gains, gains related to the disposal of the de-icing facility and foreign exchange translation gains.

About Radiant Energy Corporation
Radiant is the developer and marketer of Radiant Deicing Systems. The Company's product is the only non-glycol based alternative approved by the US Federal Aviation Administration for the pre-flight ground deicing of aircraft. Aircraft deicing with Radiant's technology offers savings to airports and airlines over the use of conventional glycol-based deicing systems, reducing aircraft treatment costs and significantly reducing the negative impact of glycol on the environment.

This press release contains "forward-looking statements", including statements regarding the business and anticipated financial performance of Radiant Energy Corporation, which involve risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements, regarding financial and business prospects and financial outlook) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks, uncertainties and assumptions that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in general economic and market conditions, changes to regulations affecting the Company's activities, and uncertainties relating to the availability and costs of financing needed in the future. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Radiant Energy Corporation
David Williams
President and Chairman

EchoStar to Acquire Mexican Satellite Operator Satmex

Defense News ~ ENGLEWOOD, CO and MEXICO CITY--(Marketwire - 02/26/10) - EchoStar Satellite Services, L.L.C., a subsidiary of EchoStar Corporation (NASDAQ:SATS - News), and Satelites Mexicanos, S.A. de C.V. (Satmex) announced today an agreement pursuant to which EchoStar will acquire an ownership interest in Satmex. Satmex is Mexico's leading satellite operator and delivers video, audio and data services to the Americas. MVS Comunicaciones, one of the largest media and telecommunications companies in Mexico and EchoStar's partner in the fast growing Mexican direct-to-home TV service Dish Mexico, will also participate in the ownership of Satmex through a joint venture with EchoStar. Together, EchoStar and MVS Comunicaciones will acquire all of the outstanding stock of Satmex.

Satmex will be acquired for approximately $267 million in cash, plus up to $107 million in cash on Satmex's balance sheet at closing, resulting in total cash of up to $374 million available for distribution to Satmex's stakeholders. The transaction is expected to close early in the third quarter 2010.

Established in the mid 1980s as part of a government operation before becoming a commercial organization, Satmex owns and operates three satellites and two satellite uplink facilities, and has approximately 200 employees, which are all included as part of the transaction.

"We are pleased to make this announcement with EchoStar, a major provider of satellite services in the United States with a significant and growing presence in Mexico," said Satmex CEO Patricio Northland. "Our companies have common goals in delivering satellite communications services across the Americas, and EchoStar has the dedication and expertise for continued growth."

"The Satmex acquisition provides us with a footprint over Mexico and South America and presents us the opportunity to serve a growing global demand for satellite services," said Dean Olmstead, president of EchoStar Satellite Services L.L.C. "We look forward to leveraging our satellite operations and uplink expertise in North America to expand our fixed satellite services throughout the Americas, including the delivery of satellite Internet to rural communities."

In connection with the sale, Satmex intends to offer to purchase all of its outstanding Senior Secured Notes for cash upon the closing of the sale of the Satmex shares. The offer to purchase the Senior Secured Notes and the sale of the shares are subject to the receipt of certain consents from the holders of the Senior Secured Notes, including consents to modify or eliminate most of the covenants in the indentures under which the Senior Secured Notes have been issued, and various corporate approvals. The consummation of the sale of the Satmex shares is conditioned upon successful completion of the offer to purchase the Senior Secured Notes.

The transaction is also contingent upon other closing conditions, including actions with respect to the construction of a replacement satellite for Satmex 5, verification of the operational capabilities of Satmex's in-orbit satellites, approvals under applicable U.S. export laws, and completion of regulatory review and receipt of regulatory approvals.

There can be no assurance that the transaction will receive the requisite corporate approvals or approvals from the Satmex bondholders, some of which have indicated that they are opposed to the transaction. EchoStar may terminate the agreement under certain circumstances, including the failure to obtain the requisite approval by the Satmex bondholders.

EchoStar's financial advisors are Deutsche Bank Securities and Peter J. Solomon Company. The financial advisor for Satmex is Perella Weinberg Partners LP.

Additional Information

The tender offers described in this press release have not yet commenced, and this press release is for informational purposes only and is not an offer to buy, or the solicitation of an offer to sell, any securities. Satmex has not yet commenced any tender offer. Any tender offer will be made only pursuant to an offer to purchase and related materials distributed by Satmex to holders of securities. Security holders are strongly encouraged to read carefully the offers to purchase, the letters of transmittal and any other related materials because they will contain important information.

About Satmex
Satelites Mexicanos, S.A. de C.V. is the leading satellite service provider in Latin America. The Satmex fleet offers hemispheric and regional coverage throughout the Americas. Satmex owns and operates three satellites for full-time and occasional services in both C- and Ku-Bands: Solidaridad 2, Satmex 5 and Satmex 6. Thousands of users on the American continent, regardless of region or culture, benefit from Satmex services in applications such as broadband, voice and data transmission, and video broadcasting, among others. With over 30 years of experience and landing rights in 46 countries and territories, Satmex offers creative business technology solutions to improve the profitability of its customers. Satmex's priority is empowering its customers' businesses by providing a service of excellence for every need, all the time, anywhere in the Americas. Visit

About MVS Comunicaciones
After 30 years of experience, MVS Comunicaciones, based in Mexico City, is a significant player in radio, television, broadband and publishing, and is recognized for providing innovative services. MVS Multivision service was launched in 1989 as the first television system with MMDS technology (microwave transmission) that became one of the fastest growing systems in the world, offering exclusive programming and the latest technologies. Since 2002, MVS Multivision has offered MASTV, a television system accessible in Mexico, with 15 channels offered at competitive prices. Visit

About EchoStar Satellite Services
EchoStar Satellite Services L.L.C. is a wholly owned subsidiary of EchoStar Corporation (NASDAQ:SATS -News) and provides a reliable network for aggregation and distribution of video, audio and data domestically and internationally, including a joint venture to deliver Dish Mexico direct-to-home satellite TV services. EchoStar also offers IPTV solutions through its ViP-TV platform. EchoStar represents a significant source of Ku-band and Ka-band satellite capacity and spacecraft operation services with nine satellites, ground-based teleport facilities, and an expansive terrestrial backhaul network along with 24-hour Satellite Access Centers. Visit

Safe Harbor and Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words "will," "plan," "anticipate," and "intend," and other similar expressions are intended to identify forward-looking statements and information. Such statements may include, but are not limited to, statements about the benefits of the proposed acquisition of Satmex, including EchoStar's plans for Satmex and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of EchoStar's and Satmex's management and are subject to significant risks and uncertainties. Actual results may differ materially from anticipated results.

The proposed transaction may not be able to be consummated on the terms on which the parties have agreed, or at all, due to a number of factors, including, the inability to repurchase or redeem the Notes and obtain consent to amend the indentures, the failure to obtain the requisite government approvals or the failure to satisfy any of the other conditions to consummation of the transaction. Other risks are identified in EchoStar's Disclosure Regarding Forward-Looking Statements included in its recent filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended Dec. 31, 2008, and its most recent Quarterly Report on Form 10-Q and in Satmex's Annual Report on Form 20-F for the year ended Dec. 31, 2008, and subsequent Periodic Reports on Form 6-K. The forward-looking statements speak only as of the date made, and both EchoStar and Satmex expressly disclaim any obligation to update these forward-looking statements.

Press Contacts:
Marc Lumpkin
Felipe Chao
011 (5255) 5283-4324

Military Communications Satellite Built by Lockheed Martin Achieves 10 Years in Service

Defense News ~ SUNNYVALE, Calif., Feb. 26 /PRNewswire/ -- The U.S. Air Force's Defense Satellite Communications System (DSCS) B8 satellite, built by Lockheed Martin (NYSE:LMT - News), has surpassed its 10-year design life of on-orbit service in providing secure and reliable communications capabilities for the warfighter.

Launched from Cape Canaveral on Jan. 20, 2000, the B8 satellite is one of 14 DSCS III spacecraft designed and built by Lockheed Martin Space Systems for the MILSATCOM Systems Wing at the Air Force's Space and Missile Systems Center, Los Angeles Air Force Base, Calif.

The satellite is also the first of four DSCS III satellites to feature Service Life Enhancement Program (SLEP) upgrades that enabled a 200-percent increase in communication capacity over original DSCS III spacecraft with its 50-watt Traveling Wave Tube Amplifiers.

"The high performance and longevity of the DSCS III constellation is direct testimony to a joint U.S. Air Force/Lockheed Martin team dedicated to providing the warfighter with secure and reliable satellite communications," said Kevin Bilger, Lockheed Martin's vice president and general manager of Global Communications Systems. "The DSCS III constellation has provided the Department of Defense with its core communications capability for over two decades and will continue to make a significant contribution to our national security well into the future."

The system provides uninterrupted secure voice and high-data rate communications to Department of Defense users; essential tools in monitoring events and deploying and sustaining forces anywhere in the world. In 2009, the overall DSCS III constellation surpassed 200 years of on-orbit operations, the longest total operational experience of any U.S. military communications satellite constellation.

Lockheed Martin is also progressing on the Department of Defense's highly secure communications satellite system, the Advanced Extremely High Frequency (AEHF) program. As the successor to Milstar, AEHF will increase data rates by a factor of five, permitting transmission of more tactical military communications, such as real-time video, battlefield maps and targeting data. The first AEHF spacecraft has completed final testing and is planned for delivery to the Air Force in second quarter 2010.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2009 sales of $45.2 billion.

Media Contacts: Steve Tatum, 408-742-7531; e-mail,
Samantha Un, 408-742-3516; e-mail,

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Bell Helicopter Expands Service Offerings in Europe

Defense News ~ FORT WORTH, Texas--(BUSINESS WIRE)--Bell Helicopter, a Textron Inc. (NYSE: TXT - News) company, today announced the acquisition of Aviation Service, a world-class provider of modifications and upgrades, avionics and special mission packages, based in Prague, Czech Republic with annual revenues of about $14 million.

“Bell is committed to meeting the needs of our European customers; this acquisition allows us to more rapidly provide support and service to this important region,” said John L. Garrison, Bell president and CEO. “This facility provides us with the capabilities to meet the maintenance and modernization needs of Bell’s current European fleet of aircraft, while providing a foundation to accommodate future growth with local completion and customizing capability for new aircraft deliveries.”

“This central European location will further enhance our industry-leading Customer Support and Service organization, bringing the complete suite of Bell’s support and service offerings closer to our European customers,” said Danny Maldonado, senior vice president of Customer Support and Services and Chief Service Officer. “Supporting the European fleet is a priority for Bell, acquiring Aviation Service is one of the first steps to increase Bell’s rising presence in Europe.”

As part of the new acquisition Bell expects to be able to generate supplemental type certifications to meet customer requirements, building on Aviation Service’s EASA Part 21 Design Organization and 145 Repair Station certifications.

Leading this new venture is Gordon Harveson, general manager Bell Europe and a long-time leader at Bell. Among his recent accomplishments, Harveson managed the Bell Customer Supply Center in Amsterdam, a facility he will once again have responsibility for. “Building on the existing experience of Aviation Service, the introduction of the 429 and the world class supply capabilities at our Amsterdam facility, this acquisition signals the commitment of Bell in the European market,” said Harveson.

About Bell Helicopter

Bell Helicopter, a wholly owned subsidiary of Textron Inc., is an industry-leading producer of commercial and military, manned and unmanned vertical lift aircraft and the pioneer of the revolutionary tiltrotor aircraft. Globally recognized for world-class customer service, innovation and superior quality, Bell’s global workforce serves customers flying Bell aircraft in more than 120 countries.

About Textron Inc.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron in known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at

Investor Contact:
Doug Wilburne, 401-457-2288
Bill Pitts, 401-457-2288
Media Contact:
Bell Helicopter
Bridget Meyer, 817-280-7963
TextronMichael Maynard, 401-457-2474

Oshkosh Defense Named Wisconsin Manufacturer of the Year

Defense News ~OSHKOSH, Wis.--(BUSINESS WIRE)--Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK - News), received the 2009 Wisconsin Manufacturer of the Year (MOTY), winning the Grand Award in the “Mega” category for companies with more than 750 employees. Oshkosh was selected as the top company in this annual state-wide competition among Wisconsin-based manufacturers.

Oshkosh Defense was recognized for its operations and business excellence during the past year, and was judged on criteria, including financial growth, environmental solutions, technological advancement, operational excellence, commitment to employees and community support.

“The award acknowledges the progress and growth at Oshkosh Defense, as well the hard work and experience of our employees,” said Andy Hove, Oshkosh Corporation executive vice president and president, Defense. “This award is a tribute to the dedication of our workforce in building the finest military tactical wheeled vehicles to help supply our Armed Forces and help protect the lives of someone’s son, daughter, mother or father.”

For Oshkosh Defense, 2009 was a remarkable year. The Defense division won two major contracts and hired hundreds of new employees. The division first received an award on June 30, 2009 for the MRAP All-Terrain Vehicle (M-ATV) program, resulting in a $4.74 billion contract for 8.079 vehicles to be used in Afghanistan’s harsh rugged terrain. The contract award brought an immediate ramp up in production for this brand-new vehicle. This was an “urgent” needs project for the U.S. Army, and Oshkosh and its employees were able to design, test, build and begin delivering these life-saving vehicles to Afghanistan in less than a year -- a truly remarkable accomplishment.

The next significant award came on Aug. 26, 2009 for the Army’s Family of Medium Tactical Vehicles (FMTV).These two momentous programs are in addition to the existing programs and vehicles that Oshkosh provides for medium tactical wheeled vehicles for the Marine Corps and the Family of Heavy Tactical Vehicles (FHTV) for the Army.

“Our success is the direct result of attention to detail from our management, the skill and determination of our employees and a companywide commitment to continuous improvement. Each day we come to work with a purpose and leave with a great sense of pride,” said Hove.

Nominees for the Wisconsin MOTY awards must have major manufacturing operations in the state. Winning companies are also recognized for having made Wisconsin a better place to live and work through their operations and business excellence.

MOTY winners were announced at an awards program on Thursday, Feb. 25 at The Pfister Hotel in Milwaukee. The MOTY Awards Program is co-sponsored by Michael Best and Friedrich LLP, Baker Tilly Virchow Krause LLP, and Wisconsin Manufacturers & Commerce.

About Oshkosh Defense

Oshkosh Defense, a division of Oshkosh Corporation, is an industry-leading global designer and manufacturer of tactical military trucks and armored wheeled vehicles, delivering a full product line of conventional and hybrid vehicles, advanced armor options, proprietary suspensions and vehicles with payloads that can exceed 70 tons. Oshkosh Defense provides a global service and supply network including full life-cycle support and remanufacturing, and its vehicles are recognized the world over for superior performance, reliability and protection. For more information, visit

About Oshkosh Corporation

Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh Corp. manufactures, distributes and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Medtec®, Jerr-Dan®, Oshkosh Specialty Vehicles, Frontline™, SMIT™, CON-E-CO®, London® and IMT®. Oshkosh products are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, log on to®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.

Forward-Looking Statements

This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include risks related to sustaining the required rate of production for the M-ATV contract and the amount, if any, of additional orders for M-ATVs that the Company may receive; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and tight credit markets; the duration of the global recession, which could lead to additional impairment charges related to many of the Company’s intangible assets; the expected level and timing of U.S. Department of Defense procurement of products and services and funding thereof, risks related to reductions in government expenditures, the potential for the government to competitively bid the Company’s Army and Marine contracts and the uncertainty of government contracts generally; the consequences of financial leverage associated with the JLG acquisition, which could limit the Company’s ability to pursue various opportunities; risks related to the collectability of receivables during a recession, particularly for those businesses with exposure to construction markets; risks related to production delays as a result of the economy’s impact on the Company’s suppliers; the potential for commodity costs to rise sharply, including in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; and the potential for increased costs relating to compliance with changes in laws and regulations. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this press release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.

Oshkosh Corporation
Patrick Davidson
Vice President, Investor Relations
Ann StawskiVice President, Marketing Communications

General Dynamics wins over $900 mln in Navy deals

Defense News ~ WASHINGTON, Feb 26 (Reuters) - General Dynamics Corp (GD.N) has won a $824.6 million contract modification for continued work on two T-AKE dry cargo ships, and a separate contract for $114 million for long-lead time procurement for another DDG-51 destroyer, the U.S. Defense Department said on Friday.

The Navy awarded National Steel and Shipbuilding Co (NASSCO), a General Dynamics unit, a contract for work on T-AKE 13 to be completed by December 2013, and T-AKE 14, to be completed by November 2014.

The Navy also awarded General Dynamics' Bath Iron Works shipyard $114 million to buy materials needed for construction of DDG 115 under the DDG-51 destroyer program. That work is due to be completed by December 2012, the Pentagon said in its daily digest of major weapons contracts.

(Reporting by Andrea Shalal-Esa)