Corporate News

OYO Geospace (NASDAQ: OYOG) received an order for $4.3 million of geophysical equipment, including 3,000 channels of the Geospace Seismic Recorder (GSR), the company's new wireless seismic data acquisition system. Delivery of the GSR system and related equipment is expected to occur in the company's fourth fiscal quarter.

OYO Geospace designs and manufactures instruments and equipment used by the oil and gas industry in the acquisition and processing of seismic data as well as in reservoir characterization and monitoring activities. [SM]

RADA Electronic Industries Ltd. (Nasdaq: RADA) has received in the second quarter of 2009 follow-on production and maintenance orders with total value exceeding $3,200,000 to deliver various video and data recorders, inertial navigation systems and various avionics products to customers worldwide. Deliveries are scheduled within a year.

RADA Electronic Industries Ltd. (RADA) develops, manufactures and sells defense electronics (solid-state recorders, computers, inertial navigation systems, and alike) and their supporting ground systems (automated testers, data debriefing stations).[SM]

NetSol Technologies, Inc. (NASDAQ: NTWK) today announced that a Netherlands-based company, focused on the wholesale commercial finance sector, has selected NetSol's Wholesale Finance System offering, within the NetSol Financial Suite, for their Channel Finance business in Europe.

Naeem Ghauri, President and Head of Global Sales for NetSol Technologies Inc., commented, "We are delighted to announce this new European client win for our Wholesale Finance System suite. By working in close partnership with our new client we will deliver robust wholesale finance system capabilities to handle many different types of assets, as well as combining our invoice financing functionality into a single, fully integrated, solution. Europe is a market with huge potential for channel finance and NetSol's multi-asset, multi-lingual, and multi-party system is uniquely designed to help our client realize exceptional results in a highly flexible environment."

IMAX Corporation (NASDAQ: IMAX) announced that the Paramount Pictures release Transformers: Revenge of the Fallen: The IMAX Experience, directed by Michael Bay and featuring scenes filmed with IMAX(R) cameras, posted strong second weekend results, with an estimated $4.6 million coming from 169 IMAX(R) theatres domestically during the three days from Friday, July 3 through Sunday, July 5. The IMAX release contributed more than 10% of the film's $42.5 million weekend total on less than 2% of the screens.

The film also generated approximately $1.4 million from IMAX theatres internationally, bringing the worldwide IMAX total to over $30 million in the first 12 days of release.

Late yesterday, Alcon, Inc. (NYSE: ACL) and its partner, NovaBay Pharmaceuticals, Inc. (AMEX: NBY), announced today that Alcon has begun treating patients in a Phase 2 clinical trial of NovaBay's patented lead Aganocide(R) compound, NVC-422, for viral conjunctivitis, a type of "pink eye." Conjunctivitis is a pervasive and painful condition that affects both adults and children, leading to more than four million doctor and emergency room visits in the United States each year.

NovaBay has a licensing and research collaboration agreement with Alcon, the world's leading eye care company, for use of its Aganocide(R) compounds in the eye, ear and sinus, and in contact lens solutions.

The Phase 2 multi-center, randomized, placebo-controlled trial is designed to determine the safety and efficacy of NVC-422 in people with viral conjunctivitis. The study calls for enrolling approximately 250 patients at more than 30 medical centers, mostly in the United States.