Press Releases

TAMPA, Fla.--(BUSINESS WIRE)-- Sypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc. (Nasdaq/NM: SYPR), announced today that it has been awarded an Indefinite Delivery Indefinite Quantity (IDIQ) contract from the United States Department of Defense (DoD) for its RASKL(R) (KIK-30) electronic key fill device. This contract is in support of the DoD's modernization effort to replace the aging KYK-13 key fill device. The product was designed and will be produced at the Sypris Electronics facility located in Tampa, Florida.

The RASKL IDIQ contract is for a five-year period with a not-to-exceed value of $200 million. The IDIQ contract is the U.S. Government's vehicle for its Services and Agencies to order the RASKL and product ancillaries.

The Really Simple Key Loader, or RASKL, is a modernized electronic key fill product used for loading keying data into secure communication equipments. Due to the demanding, tactical environments for which the product was designed, RASKL is fully ruggedized, small, lightweight, requires no formal training and implements a one-button "key squirt" process for simplified loading operations. The RASKL holds up to 40 modern electronic keys and is depot repairable.

"Sypris Electronics is a strategic partner and key contractor with the Department of Defense in support of their security initiatives and modernization efforts," said John Walsh, President of Sypris Electronics. "This contract award further demonstrates our position as a leading provider of information assurance solutions to the U.S. Government."

Sypris Electronics is a world-class, integrated systems solutions provider. Our ruggedized electronic products, advanced engineering services and complete electronic manufacturing capabilities are aligned to provide our customers the best people, practices and technologies to continually exceed expectations. We consistently promote an agile, innovative culture by strategically partnering with leading-edge technology companies, agencies and universities. With over 40 years of experience, Sypris Electronics is proud to develop, manufacture and integrate leading technologies into mission critical electronics systems that secure America's interest. Visit www.sypriselectronics.com for additional company information.

Key Word Tags:

Sypris Electronics, RASKL, Electronic Key Management, KIK-30, KYK-13 Replacement

    Source: Sypris Electronics, LLC

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has assigned the following ratings to Scotiabank Peru S.A.A. (SBP):

--Foreign currency long-term Issuer Default Rating (IDR) 'BBB';

--Foreign currency short-term IDR 'F2';

--Local currency long-term IDR 'BBB+';

--Local currency short-term IDR 'F2';

--Individual rating 'C/D';

--Support rating '2'.

The Rating Outlook is Stable.

Scotiabank Peru's (SBP) IDRs reflect the support it would likely receive from its parent, the Bank of Nova Scotia (BNS, rated 'AA-'), should it be required. The bank's individual ratings consider its strengthened franchise, adequate reserve coverage, improving capital and sufficient liquidity; they also factor in its tough competitive environment, declining asset quality and somewhat lower profitability. The foreign currency IDR is constrained by Peru's country ceiling.

Given SBP's importance to its parent, there is a high probability that the bank would receive support from BNS, should it be required. Support should be forthcoming, provided that SBP does not suffer from a systemic risk event.

Downward risk for SBP's IDRs is very limited given its parent support and Peru's economic prospects, but some pressure on the individual rating could arise from a significant asset quality decline that would impair its performance and erode its reserve and capital cushion.

SBP's performance during 2008 was driven by strong loan growth (due in part to acquisitions) and resilient margins; growth slowed into 2009, but non-interest revenues sustained their contribution. Costs grew in line with the bank's network expansion, but overall efficiency improved as operating revenues grew faster.

Credit costs, on the other hand, increased significantly reflecting the riskier profile of SBP's loan portfolio and the impact of the economic downturn. Nevertheless, profitability remained adequate with an ROAE of 23% and ROAA of 2.4%. Deposits appear more diversified and capital, which was in line with that of its main competitors, has improved thanks to slower growth and retained earnings.

As the Peruvian economy seems to turn the corner, SBP resumes growth and its loan portfolio should see a moderate increase in 2009-2010. Thus, operating revenues should see slower growth in spite of stable margins. Costs are expected to remain under control as the bank tames its expansion but LLP's (mainly from consumer and micro-credit) should continue pressuring the bottom line.

Overall profitability could see some deterioration but is expected to remain positive into 2010. The relatively benign economic prospects, adequate reserves and continued profitability should underpin capital ratios that may decline in the short run but should remain stable around its current levels in the medium term.

SBP is Peru's third largest bank with a market share of about 16% of the system's assets. The bank was created in 2006 from the merger of Banco Sudamericano (BS) and Banco Wiese Sudameris (BWS). A universal bank active across all segments, SBP is owned at 97.7% by BNS (Canada's third largest bank) which is in turn widely held.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

    Source: Fitch Ratings

Thousands of Businesses to Benefit from Next Generation of Innovative Excel-Based Reporting by Event 1 Software

ATLANTA & VANCOUVER, Wash.--(BUSINESS WIRE)-- Event 1 Software, Inc. unveiled its next-generation of integrated Excel-based reporting software today at both its Vancouver, WA., headquarters and the Sage Summit User Conference in Atlanta, Georgia.

Building on the success of Office Connector for Sage Timberline Office, Event 1 Software announced the name of its newest product line is Liberty Reports.

Liberty Reports represents the company's next-generation technology for integrated Excel-based reporting. The new product enables Event 1 Software to more easily develop connectivity plug-ins for a wide variety of databases without recreating its core product for each target database. The specific edition being released has a connectivity plug-in for Sage Master Builder. Liberty Reports for Sage Master Builder will allow users to design their own reports and will also be accompanied by a library of ready-to-go business reporting templates addressing such things as interactive financial reporting, project reporting, field reporting, scheduling analysis, and others.

"We are very excited to bring this reporting technology to the Sage Master Builder market. This type of reporting solution will empower companies to transform how they think about business reporting. Companies will be able to report their business data while leveraging the capabilities of Microsoft Excel," said Michael Newland, Vice President of Product Management.

James Coyle, President of Event 1 Software added, "This is not an 'export-to-Excel' like you see in other Excel-based solutions. Rather, it is an integrated add-in for Microsoft Excel(R) that transforms Excel into an interactive reporting tool connected directly to a company's databases. That's very powerful."

The company specifically engineered Liberty Reports to allow Event 1 Software to enter virtually any market having a need for business reporting so long as there are accessible databases containing business data. No formal announcements were made identifying the next market for Liberty Reports however the company states that those plans are already under way.

For an online demo of Liberty Reports, contact Event 1 Software at sales@event1software.com, 360-567-3750, or visit www.event1software.com.

About Event 1 Software

Based out of Vancouver, Wash., Event 1 Software, Inc. has been a leading integration software developer specializing in integration with Sage Timberline Office since 1998. Event 1 Software is a family-oriented business aimed at increasing productivity and effectiveness in the workplace. In addition to Liberty Reports for Sage Master Builder, Event 1 Software offers a suite of Excel integration products including Office Connector and Forecast for Sage Timberline Office and Integrator that bridges data between Sage Timberline Office and Meridian Prolog Manager.

    Source: Event 1 Software, Inc.

DUESSELDORF, Germany and ROCKY HILL, Conn., Nov. 11 /PRNewswire-FirstCall/ --

    --  Sales down 7.3 percent to 3,485 million euros
    --  Decline in organic sales reduced to 2.5 percent
    --  Operating profit up 191 million euros to 290 million euros

    --  Adjusted operating profit down 1.5 percent to 385 million euros

In the third quarter of 2009, Henkel generated sales of 3,485 million euros. In a still difficult market environment, this represents a decrease of 7.3 percent compared to the figure for the prior-year quarter. In organic terms, i.e. after adjusting for foreign exchange and acquisitions/divestments, sales showed another improvement compared to the first two quarters of this year, coming in just 2.5 percent below the level of the third quarter of 2008. However, performance of the company's three business sectors continued to show a very mixed picture. Laundry & Home Care again performed well, posting an increase in organic sales of 2.4 percent. Cosmetics/Toiletries saw organic sales rise by 3.7 percent, again outstripping the already very good figures of recent quarters. Due to the volume decline encountered in major customer industries, Adhesive Technologies registered a decrease in organic sales of 7.6 percent. Compared to the second quarter, however, the drop in organic sales has halved.

"In the third quarter, we were again able to continue our positive performance of recent quarters," says Kasper Rorsted, Chairman of the Henkel Management Board. "We achieved excellent results at Laundry & Home Care, and our Cosmetics/Toiletries business sector was also able to once again exceed the very good performance of the previous quarters. There was also a further improvement in the results of the Adhesive Technologies business sector in the course of the year, albeit on a lower level than in the previous year." Rorsted continued: "The encouraging results registered in this last quarter reflect both the stabilization in our markets and our programs on structural and cost alignment."

Due primarily to the burden of restructuring charges on the results of the prior-year quarter, operating profit (EBIT) increased by 51.8 percent, from 191 million euros to 290 million euros. After adjusting for one-time gains and charges and restructuring charges totaling 95 million euros, adjusted operating profit ("adjusted EBIT") decreased slightly by 1.5 percent, from 391 million euros to 385 million euros.

Return on sales (EBIT margin) was 8.3 percent, while adjusted return on sales ("adjusted EBIT margin") increased from 10.4 percent to 11.0 percent.

The investment result fell from 24 million euros to 0 million euros due to the sale of the company's stake in Ecolab in November 2008. Net interest expense improved by 32 million euros, from -72 million euros to -40 million euros, largely attributable to lower interest rates compared to the previous year. Consequently, the financial result improved from -48 million euros to -40 million euros. The tax rate amounted to 28.0 percent.

Due to the increased EBIT, net earnings for the quarter rose by 68.2 percent, from 107 million euros to 180 million euros. After deducting minority interests of 8 million euros, quarterly net earnings totaled 172 million euros compared to 101 million euros in the third quarter of 2008. Adjusted quarterly net earnings after minority interests amounted to 240 million euros versus 251 million euros in the prior-year quarter. Earnings per preferred share increased from 0.23 euros to 0.39 euros. The adjusted figure was 0.55 euros compared to 0.59 euros in the prior-year quarter.

Thanks to a strong cash flow performance, net debt was further reduced compared to the end of the second quarter of 2009 by some 700 million euros to 3.2 billion euros. Good progress was also made with regard to working capital management: compared to the prior-year period, the ratio of net working capital to sales improved from 12.8 percent to 10.3 percent.

Sales and Profits Forecast 2009

Despite the recently apparent stabilization of the markets at their low level of activity, it remains difficult to assess the overall economic situation and how it is likely to develop going forward.

Nevertheless, Henkel is confident of again outperforming its relevant markets in terms of organic sales growth (i.e. after adjusting for foreign exchange and acquisitions/divestments). A number of measures have already been introduced on the operational side, from which Henkel expects further positive momentum to develop. These activities and also relief from easing raw material prices will support the development of operating profit (EBIT) and earnings per preferred share (EPS), adjusted in each case for one-time gains and charges and restructuring charges.

Henkel expects its consumer businesses to continue to perform well in the fourth quarter as they have in the first nine months of this year, albeit with a degree of deceleration. Henkel anticipates that the performance of its Adhesive Technologies business sector will be an improvement on that of the first nine months.

The complete third quarter report can be found at www.henkelna.com/press.

Henkel in North America:

Henkel markets a wide range of well-known consumer and industrial brands in North America, including Dial® soaps, Purex® laundry detergents, Right Guard® antiperspirants, got2b® hair gels, and Loctite® adhesives. Visit www.henkelna.com for more information.

This information contains forward-looking statements which are based on the current estimates and assumptions made by the corporate management of Henkel AG & Co. KGaA. Forward-looking statements are characterized by the use of words such as expect, intend, plan, predict, assume, believe, estimate, anticipate, etc. Such statements are not to be understood as in any way guaranteeing that those expectations will turn out to be accurate. Future performance and the results actually achieved by Henkel AG & Co. KGaA and its affiliated companies depend on a number of risks and uncertainties and may therefore differ materially from the forward-looking statements. Many of these factors are outside Henkel's control and cannot be accurately estimated in advance, such as the future economic environment and the actions of competitors and others involved in the marketplace. Henkel neither plans nor undertakes to update any forward-looking statements.

    Contact:
    Cindy Demers (North America)
    Tel: 480-754-4090
    E-mail: cindy.demers@us.henkel.com

    Lars Witteck (International)
    Phone: +49-211-797-2606
    Fax: +49-211-798-4040

You will find the full report for the third quarter of 2009 and also photo material at http://www.henkel.com/press.

press.henkel.com

SOURCE Henkel North America

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/083b60/tourist_and_travel) has announced the addition of ICAP Group's new report "Tourist and Travel Agencies in Greece 2008" to their offering.

This study considers the tourist and travel agencies sector, focusing especially on inbound, domestic and outbound tourism companies. The sector under assessment is a considerably significant component of the Greek tourist industry, which has proven to be perhaps the most valuable capital for the development of the national economy.

The total size of the Greek service sector of tourist - travel agencies has been on the rise over the past three years (2005-2007). The study examines the tourist - travel agency sector (inbound, domestic and outbound tourism), how it is progressing and the prospects on it. As regards inbound tourism, foreign tourists are the main clients of travel agencies, visiting our country on vacation mostly during the summer period. Domestic and outbound tourism services are mainly provided to Greeks, who either travel within the country or visit destinations abroad.

According to the study, the sector of tourist-travel agencies comprises a significant number of companies (market sources say they are over 4,000) which differ among them in terms of size and to the extent to which they provide the various tourist services. The main activity of most sector companies is inbound tourism yet they also offer related services (ticket issue, etc.). The sector is made up of large-sized companies- many of which represent large international agencies-, medium-sized companies and, predominantly, small-sized companies.

Key Topics Covered:

    --  Summary
    --  Sector Companies and Analysis of their Financial Data
    --  Conclusions and Prospects for the Sector
    --  Benchmarking of Inbound Tourist-Travel Agencies (soft copy)
    --  Benchmarking of Outbound / Domestic Tourist-Travel Agencies (soft copy)
    --  SECTOR COMPANIES' BALANCE SHEETS (soft copy)
    --  TABLES
    --  GRAPHS

Products Mentioned:

    --  Organized inbound tourism
    --  Organized domestic tourism
    --  Organized outbound tourism

For more information visit http://www.researchandmarkets.com/research/083b60/tourist_and_travel

    Source: Research and Markets