Press Releases

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Emergency Medical Services (NYSE: EMS) ("EMSC" or "the Company") announced today that Standard & Poor's Rating Services has raised the corporate credit rating on EMSC to 'BB' from 'BB-,' reflecting an improved financial risk profile and improved liquidity. In its November 11, 2009, report, Standard and Poor's cited the Company's EBITDA growth, improved cash flow and financial discipline as contributors to the rating upgrade.

William A. Sanger, Chairman and Chief Executive Officer, said, "We are very pleased that Standard & Poor's has acknowledged our financial performance improvements with this rating upgrade. We believe the improved rating reflects both the Company's revenue growth and our focus on effective resource utilization, which have helped to contribute to improved overall financial performance."

About Emergency Medical Services Corporation

Emergency Medical Services Corporation (EMSC) is a leading provider of emergency medical services in the United States. EMSC operates two business segments: American Medical Response, Inc. (AMR), the Company's healthcare transportation services segment, and EmCare Holdings Inc. (EmCare), the Company's outsourced hospital-based physician services segment. AMR is the leading provider of ambulance services in the United States. EmCare is a leading provider of outsourced hospital-based physician services. In 2008, EMSC provided services to 11.4 million patients in nearly 2,100 communities nationwide. EMSC is headquartered in Greenwood Village, Colorado. For additional information, visit www.emsc.net.

    Source: Emergency Medical Services Corporation

LAVAL, QUEBEC--(Marketwire - Nov. 11, 2009) - Savaria Corporation (TSX: SIS), Canada's leader in the accessibility industry, today discloses its financial results for the third quarter ended September 30, 2009.

Third-Quarter Highlights

- Repurchase of 4.7 million common shares by the Corporation, being the equivalent of 17% of its capital stock;

- Sustained sales for the Corporation, despite unfavourable economic conditions;

- Significant growth of the Corporation's operations in Asia;

- Substantial increase in cash flows from operating activities, which rise to $1,243,088.

The Corporation generated third-quarter revenues of $14,350,000 from its continuing business operations, compared with revenues of approximately $14,681,000 for the corresponding quarter of 2008. The Corporation's sustained revenues can be explained by current conditions in the U.S. real estate market, which temporarily brought down Savaria's export potential in the same territory. Revenues from sales in Europe and Asia amounted to $1,400,514, up 66% over $843,666 for the corresponding quarter of the previous fiscal year.

"In light of the rather challenging global economic context, we are obviously pleased with these results, which attest to both the relevance of our products and our ability to increase efficiencies," indicated Marcel Bourassa, President and Chief Executive Officer of the Corporation. "Based on a progressive and diversified growth strategy, we already expect Savaria to achieve significant breakthroughs in high-business-potential foreign markets. The aging population is definitely an issue worldwide that will allow us to continue to capitalize on our expertise in equipment for people with mobility challenges on more than one continent," added the President and Chief Executive Officer.

The Corporation posted net earnings of 1 cent per share in the third quarter of 2009, compared with 2.3 cents for the corresponding period of 2008(1). Gross profit as a percentage of sales worked out to 26.7% for the third quarter of 2009, an increase of 2.1% over the figure obtained in the third quarter of 2008.

(1) The recent repurchase of 17% of the Corporation's capital stock could logically lead to an increase in net earnings per share as of the next quarter.

Cash flows from operating activities totalled $1,243,088 for the third quarter of 2009, up 93% over $644,506 for the third quarter of 2008. These inflows come primarily from foreign exchange contracts of $1 million cashed-in in advance. During the same period, the Corporation's long-term debt increased by $4 million. This increase was planned for the repurchase of 4.7 million common shares, being the equivalent of 17% of the Corporation's capital stock, at a price of 90 cents per share(2).

(2) Fees of 2.9 cents were added for each of the repurchased shares, for a total of 92.9 cents per share.

"We are obviously pleased that the Corporation benefits from such substantial cash flows. This liquidity not only attests to our sound and effective management, but also provides us with the flexibility to pursue our expansion. As for the repurchase of 17% of our capital stock, this is excellent news for our present and future investors, given that the value of their shares and dividends will likely rise in the short and long term. All in all, there is no doubt in our minds that the outlook for Savaria's future is very bright," concluded Marcel Bourassa.

New Markets, New Products

Thanks to its Huizhou-based Chinese plant employing more than 70 people, the Corporation can bank on steadily deploying its efforts in Asia in order to diversify and multiply its revenue streams. With its efficient production and marketing teams, Savaria aims to ensure the gradual development of this fast-growing market.

Van-Action, a wholly-owned subsidiary of Savaria, recently finalized the tests prerequisite to marketing a new wheelchair-accessible vehicle equipped with both a rear and a side entry. Unique in North America, the vehicle is now offered to the adapted taxi industry, which has further diversified the Corporation's operations and revenue streams.

Forward-Looking Statements

Certain statements in this press release may be forward-looking. Forward-looking statements involve known and unknown risks, uncertainties or other factors that may cause the Corporation's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The reader is warned against the risk of giving excessive credibility to these forward-looking statements.

Compliance with Canadian Generally Accepted Accounting Principles

The information appearing in this press release has been prepared in accordance with Canadian generally accepted accounting principles ("GAAP"). However, the Corporation uses earnings before interest, income taxes and amortization ("EBITDA") for analysis purposes to measure its financial performance. This measure has no standardized definition in accordance with GAAP and is therefore regarded as a non-GAAP measure. This measure may therefore not be comparable to similar measures reported by other companies. A reconciliation between net earnings and EBITDA is provided in the Financial Highlights section below.

Savaria Corporation

(www.savariaconcord.com) is Canada's leader and the second largest accessibility company in North America responding to the needs of people with mobility challenges. The Corporation designs, manufactures and distributes primarily elevators for residential and commercial use, as well as stairlifts and inclined platform lifts. Through its subsidiary Van-Action, Savaria converts and adapts automotive vehicles for the disabled and offers scooters and motorized wheelchairs as well. Its line of products, one of the world's most comprehensive, enables Savaria to stand out by proposing an integrated and customized solution for its disabled and elderly customers' mobility needs. Savaria records approximately 60% of its sales outside Canada, primarily in the United States, and is currently penetrating the Chinese market. The Corporation has a network of some 600 retailers in North America and employs more than 370 people in its plants in Ville Saint-Laurent, Quebec, Brampton, Ontario and Huizhou, China.

Complete financial statements and the management's report for the quarter ended September 30, 2009 will shortly be available on Savaria's website and at SEDAR (www.sedar.com).

Savaria Corporation
Financial Highlights

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(in thousands of
 dollars, except
 per-share amounts,
 percentages and
 exchange rates              Quarters Ended      Nine-Month Periods Ended
 - unaudited)                  September 30,                 September 30,
-------------------------------------------------------------------------
                     2009    2008    Change        2009    2008    Change
-------------------------------------------------------------------------
Average effective
 exchange rate(1)  1.0642  1.0289    0.0353      1.0650  1.0151    0.0499
-------------------------------------------------------------------------
Sales             $14,350 $14,681      (2.3)%   $40,204 $40,557      (0.9)%
-------------------------------------------------------------------------
Gross profit as
 a % of sales        26.7%   24.6%      n/a        26.8%   21.8%      n/a
-------------------------------------------------------------------------
Selling and
 administrative
 expenses          $3,023   $2,631     14.9%     $8,562  $8,066       6.1%

Selling and
 administrative
 expenses
 as a % of sales     21.1%   17.9%      n/a        21.3%   19.9%      n/a
-------------------------------------------------------------------------
Operating earnings
 (loss)              $599    $796     (24.7)%    $1,602  $2,198     (27.1)%

Operating earnings
 (loss) as a % of
 sales                4.2%    5.4%      n/a         4.0%    5.4%      n/a
-------------------------------------------------------------------------
EBITDA(2)            $413  $1,357     (69.6)%    $2,819  $3,232     (12.8)%
-------------------------------------------------------------------------
EBITDA per share   $0.016  $0.050       (68)%    $0.105  $0.119     (11.8)%
-------------------------------------------------------------------------
Cash flows from
 operating
 activities        $1,243    $645      92.7%     $3,877   $(427)    1,008%
-------------------------------------------------------------------------
Exchange gain
 (loss)             $(472)   $400      (218)%     $(317)   $611      (152)%
-------------------------------------------------------------------------
Net earnings         $224    $631     (64.5)%    $1,442  $1,696     (15.0)%
-------------------------------------------------------------------------
Net earnings
 per share -
 basic and
 diluted           $0.009  $0.023     (60.9)%    $0.054  $0.062     (12.9)%
-------------------------------------------------------------------------
Dividends
 declared
 per share              -       -       n/a       $0.03  $0.063       n/a
-------------------------------------------------------------------------
Weighted average
 number of common
 shares outstanding
 - diluted         26,047  27,298      (4.6)%    26,722  27,414      (2.5)%
-------------------------------------------------------------------------
-------------------------------------------------------------------------
                             As at Sept. 30, 2009     As at Dec. 31, 2008
-------------------------------------------------------------------------
Total assets                              $41,537                 $40,683

Total liabilities                         $21,745                 $22,844

Shareholders' equity                      $19,792                 $17,839
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-------------------------------------------------------------------------

(1) Calculated considering the hedge accounting applied to foreign exchange
    contracts maturing during the period
(2) Reconciliation of EBITDA with net earnings provided in the following
    table



Reconciliation of Earnings before Interest, Income Taxes and Amortization
("EBITDA") with Net Earnings

-------------------------------------------------------------------------
-------------------------------------------------------------------------
(in thousands of dollars           Quarters Ended      Nine-Month Periods
 - unaudited)                        September 30,     Ended September 30,
-------------------------------------------------------------------------
                                 2009        2008        2009        2008
-------------------------------------------------------------------------
Net earnings                     $224        $631      $1,442      $1,696
-------------------------------------------------------------------------
Plus:

Interest on long-term debt         70          27         223          93
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Interest expense and banking fees  29          44          98         169
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Income taxes                     (117)        486         479         733
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Amortization of fixed assets      104          73         287         276
-------------------------------------------------------------------------
Amortization of deferred
 development costs                 74          70         224         211
-------------------------------------------------------------------------
Amortization of intangible assets  34          38         102         114
-------------------------------------------------------------------------
Less:

Interest income and dividends       5          12          36          60
-------------------------------------------------------------------------
Earnings before interest,
 income taxes and amortization
 ("EBITDA")                      $413      $1,357      $2,819      $3,232
-------------------------------------------------------------------------
-------------------------------------------------------------------------

FOR FURTHER INFORMATION PLEASE CONTACT:
        Savaria Corporation
        Marcel Bourassa
        Chairman of the Board, President and Chief Executive Officer
        1-800-931-5655

        Savaria Corporation
        Helene Bernier, CA
        Vice-President, Finance
        1-800-931-5655
        www.savariaconcord.com

Source: Savaria Corporation

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/4ee770/lower_barriers_to) has announced the addition of the "Lower Barriers to Entry Will Drive China's Smartphone Market" report to their offering.

Smartphone shipments in China grew 30% to 23.6 million in 2008 despite China's uncertain economy and overall stagnation in handset shipment growth. Mobile Internet applications, GPS, and multimedia functionality have been the most important drivers of this growth.

In-Stat estimates that the compound annual growth rate of China's smartphone market will be 25% throughout the period 2009 to 2013 and that the next wave of smartphone market growth will be driven by lowered barriers-to-entry on both the OS and chipset platform solution sides. This report examines the changing dynamics of China's smartphone OS and chipset platform markets and analyzes how these will drive the smartphone market in coming years. Details of other significant drivers are also provided.

This report includes:

    --  2008 market share for China's smartphone market by vendor and OS
    --  New smartphone models and product design trends
    --  In-depth analysis of smartphone OS market trends, especially with regard
        to Android, Symbian, and OMS
    --  An outline of the current dynamic changes in the smartphone chipset
        platform market
    --  A list of market drivers
    --  Market forecasts through 2013

HIGHLIGHTS

    --  China's smartphone shipments increased 30% in 2008 to 23.6 million units
        and are projected to reach 73.6 million, or 31.5% of total handset
        shipments, by 2013.
    --  The next wave of smartphone market growth will be driven by lower
        barriers to entry with regard to both OS and chipset platform solutions.
    --  Free and complete smartphone software platform from OHA and the Symbian
        Foundation will fuel smartphone market growth in the coming years.
    --  Turnkey chipset platform solutions from Huawei and MediaTek are another
        important factor in lowering barriers to entry.

Key Topics Covered:

Introduction

Definitions

Overview

Smartphone Value Chain Analysis

Drivers and Barriers

Market Forecasts

Methodology

List of Table

List of Figures

Companies Mentioned:

    --  Google
    --  Nokia
    --  Microsoft
    --  Symbian
    --  Linux
    --  MediaTek
    --  Huawei Turnkey

For more information visit http://www.researchandmarkets.com/research/4ee770/lower_barriers_to

    Source: Research and Markets

BATAVIA, N.Y.--(BUSINESS WIRE)-- Graham Corporation (NYSE Amex: GHM) a manufacturer of critical equipment for energy, petrochemical and other process industries, today announced that its quality management system for product design, fabrication and servicing has received certification in accordance with ISO 9001:2008, the world's most widely recognized standard for quality management systems. Although Graham's quality management system has been ISO 9001-compliant since 1999, in recent years Graham has taken additional steps to advance its system to continue to meet the high standards of its customers.

James R. Lines, Graham's President and Chief Executive Officer, commented, "We have a strong commitment to customer satisfaction that is supported by our company-wide strategy for continuous improvement. This commitment led us to add even more rigor to the Graham quality management system. We believe that these process enhancements will enable Graham to continue to create products that meet or exceed customer expectations."

"The credit for this achievement belongs to Graham's employees for the tremendous energy and drive displayed during the certification process. They understand the benefits derived from continuous improvement and are focused on the ultimate goals of achieving superior customer satisfaction and eliminating errors. We strive to create an environment where we do it right the first time, every time," he concluded.

ABOUT GRAHAM CORPORATION

With world-renowned engineering expertise in vacuum and heat transfer technology, Graham Corporation is a global designer, manufacturer and supplier of custom-engineered ejectors, pumps, condensers, vacuum systems and heat exchangers. For over 70 years, Graham has built a reputation for top quality, reliable products and high-standards of customer service. Sold either as components or complete system solutions, the principal markets for Graham's equipment are the energy, petrochemical and other process industries. Graham's equipment can be found in diverse applications, such as metal refining, pulp and paper processing, ship-building, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning.

Graham Corporation's reach spans the globe. Its equipment is installed in facilities from North and South America to Europe, Asia, Africa and the Middle East. Graham routinely posts news and other important information on its website, www.graham-mfg.com, where additional comprehensive information on the Company can be found.

Safe Harbor Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, statements relating to anticipated revenue, profit margins, foreign sales operations, its strategy to build its global sales representative channel, the effectiveness of automation in expanding its engineering capacity, its ability to improve cost competitiveness, customer preferences, changes in market conditions in the industries in which it operates, changes in general economic conditions and customer behavior and its acquisition strategy are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation's most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled "Risk Factors."

Should one or more of these risks or uncertainties materialize, or should any of Graham Corporation's underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation's forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.

    Source: Graham Corporation

NEW YORK--(BUSINESS WIRE)-- Earlier today in Beijing, the ICBC Mobile Payment American Express(R) Card, China's first dual-currency credit card with mobile account payment capabilities and features, was officially launched by the Industrial and Commercial Bank of China (ICBC), Union Mobile Pay (UMPay) and American Express.

ICBC is the largest commercial bank in the world by assets and profitability, and the largest credit card issuer in China. The ICBC Mobile Payment American Express Card combines the leading credit card platform of ICBC, the advanced mobile e-commerce services of UMPay (a leading mobile payments company in China), and the global merchant network and marketing resources of American Express. The Card signals a new era of collaboration among banks, mobile payment providers and credit card organizations, and will provide unparalleled levels of integration, efficiency and control for Chinese consumers.

The new Card leverages the "anywhere-and-anytime" advantages of mobile phones and the payment advantages of credit cards to provide consumers with secure, convenient, and flexible online, offline, and mobile payment options.

After designating their mobile phone number to their credit card account and activating their mobile payment function, Cardmembers can select merchants accepting mobile payments from their mobile phones, and authorize their payments for digital downloads, utilities, and other online and offline goods. The transactions will be automatically charged to their ICBC Mobile Payment American Express Card accounts. Cardmembers can choose to settle their charges in either US dollar or Renminbi and they don't have to pay those charges until they receive their credit card statement.

"ICBC is the biggest commercial bank in China, and we continue to reinvent our products and services to meet the changing needs of our customers," said Luan Jian Sheng, President and Head of Card Center from ICBC. "ICBC has issued more than 50 million credit cards and is the leading credit card brand in China. By integrating the respective advantages of ICBC, American Express and UMPay, we are able to bring our success in the credit card business to new heights by providing advanced and more convenient payment products to consumers in China."

"As a leading global merchant acquirer and worldwide payment network, American Express believes emerging payments will provide significant potential going forward. We intend to remain active in this space," said Kula Kulendran, American Express Executive Vice President and Head of Global Network Services in Japan, Asia Pacific and Australia.

"China has the largest mobile phone subscriber population in the world, and we are delighted to work with ICBC and UMPay to develop new mobile payment opportunities in this market. The launch of this new Card marks a new milestone for American Express in China. It will bring a new transaction channel, a new marketing tool and, ultimately, all new potential for the business growth of merchants throughout China. We look forward to a long-term, successful partnership," added Kulendran.

"With mobile handset users in China fast approaching 700 million, mobile e-commerce has been a growing consumer need and market trend in China," said Zhang Bin, General Manager of UMPay. "Convenient, prompt, and reliable mobile payment is a pre-requisite for the development of mobile e-commerce. UMPay has market leading infrastructure and know-how in China's mobile e-commerce market. We fully expect the new ICBC Mobile Payment American Express Card to play an important role in the country's mobile payment and e-commerce markets."

About Industrial and Commercial Bank of China

ICBC is the largest wholesale and retail bank in China by assets and deposits and is a market leader in many business areas including corporate and personal loans, deposits, mortgages, e-banking, custodian services and inter-bank clearing. It provides a wide range of commercial banking services to corporate and individual customers. ICBC has approximately 16,000 outlets and employs 382,000 people across China. It had total assets of RMB 11.43 trillion at the end of June, 2009.

About Union Mobile Pay

UMPay is a joint venture founded in August 2003 by China Mobile and China UnionPay. UMPay specializes in mobile payment, providing China Mobile subscribers with innovative payment products such as Mobile Wallet and the Financial Message Service, and allows merchants to enjoy broader, faster and easier payment channels.

About American Express

American Express Company is a leading global payments, network and travel company founded in 1850. Since 1996, American Express has been pursuing a strategy of opening its merchant network and card product portfolio to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, American Express has gained even broader reach for its network worldwide. American Express has now established 131 partnerships in 130 markets across the world.

    Source: American Express Company