Thursday, April 15, 2010

FACTBOX-Corporate America books healthcare reform charges

Defense News:
April 15 (Reuters) - U.S. companies have begun to tally the financial hit they say they will take as a result of the U.S. healthcare overhaul signed into law last month by President Barack Obama.

The government continues to pay subsidies to large companies, including AT&T Inc (T.N), Caterpillar Inc (CAT.N) and Boeing Co (BA.N), to help fund prescription drug benefits for their large ranks of retirees. [ID:nHEALTH]

However, the revamped law no longer allows companies to deduct the amount of the subsidies from their taxable income. Corporate America complains that the change amounts to a tax increase, while the White House says it essentially closes a tax loophole.

The charges are noncash accounting items.

Not all big companies are warning of trouble. General Electric Co (GE.N), for example, said it did not expect a "significant material impact" on its first-quarter results.

Coating and chemical maker PPG Industries Inc (PPG.N) joined the ranks of companies taking such a charge on Thursday.

Below are 10 of the largest charges forecast:

* AT&T, the largest U.S. telephone company, said it would record a $1 billion noncash charge for the first quarter and evaluate prospective changes to the healthcare benefits it offers to both active and retired workers. [ID:nN26192636]

* Verizon Communications Inc (VZ.N), the No. 2 U.S. phone company, anticipates a $970 million noncash charge for the change. [ID:nN01142694]

* Deere & Co (DE.N), which makes farm equipment, said it expected to record a $150 million charge, mostly in its current fiscal second quarter. [ID:nN25216862]

* No. 2 plane maker Boeing said it would take an income tax charge of $150 million, or 20 cents per share, against first-quarter results. [ID:nN31202447]

* Caterpillar said accounting standards required the world's largest maker of earth-moving equipment to book a $100 million after-tax charge for the first quarter to reflect the change. [ID:nN24185079]

* No. 2 life insurer Prudential Financial Inc (PRU.N) said it expected a $100 million charge for the first quarter. [ID:nWNAB4727]

* Lockheed Martin Corp (LMT.N), the world's biggest defense contractor, said it expected to record a $96 million after-tax charge for the first quarter, which would translate to around 25 cents per share. [ID:nN31242589]

* 3M Co (MMM.N), which makes products ranging from Post-It notes to optical films for flat-panel televisions, will record a one-time, noncash charge of up to $90 million, or 12 cents per share. [ID:nN26208452]

* PPG took an $85 million charge related to the change. [ID:nN15213654]

* Aluminum producer Alcoa Inc (AA.N) expects to record a charge of about $80 million. [ID:nN05147044]

Sanswire Delivers Update on Corporate Outlook for 2010

Defense News:
AVENTURA, FL--(Marketwire - 04/15/10) - Sanswire Corporation (OTC.BB:SNSR - News), a developer and producer of unmanned aerial vehicles (UAVs) and related technologies, today announced an update of the company's strategic goals. The update follows a series of meetings with current and potential strategic partners and the Sanswire-TAO joint venture partners. John Robusto, a decorated defense and reconnaissance expert with more than 30 years of experience, was recently retained by Sanswire as an executive advisor to help craft the company's strategic direction and aid in its execution.

In 2010, the company intends to take advantage of the many technologies developed throughout our development cycle. Key initiatives and procedures recently implemented include:

  • Immediately begin shipment of certain UAV components to the United States for testing and evaluation by our partners
  • Expansion of our product portfolio by offering technologies developed during our spiral development process to enhance the function of existing UAV platforms
  • Focus on providing both segmented and traditional airship designs to meet the needs identified by potential customers
  • Expansion of research and development in the United States
  • Working closely with our partners to identify new government and commercial opportunities using our expanded product offerings

Sanswire's Chairman of the Board, Major General Wayne P. Jackson, US Army, Retired, stated: "By achieving the goals we have outlined, we strongly believe that Sanswire will accelerate the development and commercialization of its technologies and set the stage for significant long-term growth. In addition, we will diligently undertake the process of building our executive management team and independent board of directors. We will continue to provide timely updates on our company, as we work toward building a sustainable business."

About Sanswire Corp.
Sanswire Corp. (OTC.BB:
SNSR - News) is a developer of integrated aerospace communications products and services. The company specializes in the design and construction of autonomous, lighter-than-air UAVs (Unmanned Aerial Vehicles) capable of carrying payloads that provide persistent security solutions at low, mid, and high altitudes. Sanswire's airships and auxiliary products are designed for use by commercial and government-related entities that require real-time intelligence, surveillance, and reconnaissance support for homeland defense, maritime, and border missions. The company's long-term objective is to develop and deliver state-of-the-art airship technology that provides surveillance sensor suites and other advanced wireless broadband capabilities to the broader commercial markets.

Forward-Looking Statements
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.


The Investor Relations Group
Jason Strominger (Investor Relations)
Mike Graff (Media Relations)

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Laser Energetics Attends Counter Terror Expo and the SpecOps Warfighter Expo East

Dazer Laser(TM) - Light Fighting Technologies Met With Excitement From Military and Law Enforcement Officials

Defense News: MERCERVILLE, N.J., April 15 /PRNewswire-FirstCall/ -- Laser Energetics, Inc. (Pink - News) is proud to announce that it is currently in attendance at two prominent tradeshows designed for companies whose products are utilized by Military Special Ops Forces, Security, Law Enforcement and Corrections officials engaged in the war against terrorism.

The Counter Terror Expo, currently going on in London, is a secure exhibition showcasing the latest in specialist security technologies and products as well as solutions which form a crucial part of counter terrorism capabilities internationally. The Counter Terror Expo offers a forum for senior buyers and specifiers to see the latest solutions which assist in the prevention and protection from terrorists globally. Last year's 2009 event broke expected attendance figures by a factor of 50 percent, where more than 4,000 qualified personnel from government, military, law enforcement, intelligence and private sector organizations from the UK, US and other nations, attended the event. This year's event looks even better.

The SpecOps Warfighter Expo, currently going on in Fayetteville, North Carolina, is designed for military personnel who require and demand the best tools of the trade as they serve as fighters of terrorism. The Special Operations Group, as well as the entire force, is facing an unprecedented operational tempo with tireless determination and self-sacrifice. The right equipment and training is imperative as a credible force multiplier. The Expo enhances opportunities for military personnel to view first hand the latest products, innovations and technology available to protect and enhance their capabilities. The event is an excellent opportunity for the introduction and promotion of new technologies and solutions to the elite forces. In addition, it is a venue for interaction between users of the technologies and the manufacturers with the goal of increasing the mission effectiveness of our nation's forces.

"We are very excited to be attending these prestigious shows," said Robert D. Battis, CEO and Founder of Laser Energetics, Inc. "Our team has been presenting and demonstrating our 'Non-Lethal - Less Violent' technology to all branches of military and law enforcement, and the reception has been spectacular at both shows. Our Dazer Laser – Light Fighting Technologies 'optical distracters' which are designed to operate 'eye-safe' at all ranges, has been a real hit at the shows. The marketplace is recognizing the need for this tactic changing technology. Pictures of our booths at the shows are now posted on our website More pictures will follow over the next few days. We expect to make several important announcements as a result of activity taking place at these shows.

About Laser Energetics, Inc.:

The Company has had a primary focus on its Alexandrite laser technology, its Dazer Laser – Light Fighting Technologies and its Total Reflectance Transmitter (TRT) technology. Laser Energetics has and continues to develop a comprehensive and strategic laser product line that addresses laser applications in Industry, Science, Medicine, Homeland Security and the Military.

Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

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