Press Releases

TRAVERSE CITY, Mich., Nov. 11 /PRNewswire/ -- Since its premiere in 2007, the popular AMC show "MAD MEN" has renewed an interest in the sophisticated lifestyle of the early 1960s. For professionals of this era, the ultimate sign of success was a new car.

(Photo: http://www.newscom.com/cgi-bin/prnh/20091111/LA09314)

Hagerty, the country's leading provider of collector car insurance, has put together its picks of the collector cars that the most powerful and influential professionals of the MAD MEN era would have driven.

"Collector cars are a unique way to show off your sense of style and express your personality," said McKeel Hagerty, CEO of Hagerty. "The early '60s especially were an era when quality products and cutting-edge design still ruled in America. The ten cars on our list are great examples of the understated and sophisticated design style of this period, and their solid value today makes them a smart way to capture the essence of MAD MEN era."

Below are Hagerty's picks of "How to Drive like the MAD MEN: Top 10 Cars of the MAD MEN Era." The leading collectible car price guide, Hagerty's Cars that Matter, has determined approximately what each vehicle is valued at today.

    1. 1963 Buick Riviera ($28,000-$36,100):  When Cadillac decided against
       producing the Riviera, Buick enlisted McCann Erickson ad agency to
       convince GM brass that the car should be a Buick. GM styling chief Bill
       Mitchell drew inspiration from Rolls-Royce and Ferrari. Owners knew the
       value of a powerful, yet beautifully understated car with plenty of room
       for the mistress and weekend's luggage. And the iconic 1963 Riviera
       certainly filled the bill.
    2. 1963 Corvette Sting Ray ($61,000-$74,000): The 1963 Corvette was perhaps
       the last truly elegant Corvette before the muscle car era arrived with
       all its ducts and scoops. A man could "expect a subtle, extra measure of
       attention and respect" by arriving in such a potent machine.
    3. 1961-63 Ford Thunderbird ($35,000-$45,000): With the 1955 Thunderbird,
       Ford introduced Americans to the concept of a personal luxury car.  By
       the early sixties, the boys from Dearborn had perfected the notion. Big
       power, big comfort, "suddenly, you're in Thunderbird Country."
    4. 1961-63 Lincoln Continental Sedan ($18,000-$24,000): Conceived just
       before the beginning of the design-by-committee era, Elwood Engel's
       magnum opus was the last mass-produced automobile to be designed by a
       single man.  A 1963 print ad showed the Continental, with doors open in
       welcome. Below, the tagline stated: "For 1963, we have enlarged your
       private world and provided you with added power."
    5. 1961 Chrysler 300G ($59,000-$67,000): The G's styling was unabashedly
       50's. But with up to 400 horsepower available and one of the best
       suspension and brake packages available, the big Chrysler was more than
       met the eye.  Though outwardly traditional, its looks concealed inner
       fury.
    6. 1963 Studebaker Avanti ($23,000-$31,000): Studebaker was among the last
       of America's independent automakers. Styled by a team led by famed
       industrial designer Raymond Loewy, the Avanti was Studebaker's last gasp.
       A Hail Mary Pass of a European-style GT, the Avanti was a lasting icon of
       an era when the fiercely independent were heroes.  While Studebaker
       succumbed to a creeping death, Avanti production continued into the
       1980s.
    7. 1962-63 Cadillac Coupe De Ville ($14,000-$20,000): No list of great 1960s
       cars is complete without a Cadillac. The Coupe De Ville was a neon sign
       announcing the "arrival" of a top executive. Young businessmen did not
       want or even yearn for a new Cadillac, they aspired to one.
    8. 1962-64 Studebaker Gran Turismo Hawk ($27,000-$32,000): Although
       Studebaker went out of business in 1966, it wasn't because their products
       lacked style. The GT Hawk was fast, elegant, and understated.  Though
       larger and more staid than its Avanti stable mate, the Hawk was still a
       bold statement of independence.
    9. 1963 Buick Electra 225 ($13,000-$19,000): Though it was built by GM's
       "near luxury" division, the Electra 225 carried plenty of prestige.  Four
       vents on each front fender indicated Buick's largest available engine and
       the big 401 cubic-inch V8 provided enough power to make even Cadillac
       owners think twice.  Though not as flashy as the Cadillac, the Buick was
       grace and style made manifest.

    10. 1963 Ford Galaxie XL Convertible ($31,000-$36,000): If the world or even
        the solar system simply wasn't big enough, there was the Galaxie. With a
        whopping 119" wheelbase the Galaxie convertible wasn't a car you wanted
        to parallel park in Manhattan. Which is why the French invented valet
        parking. True story, sweetheart.

Hagerty Insurance Agency, Inc. is the leading insurance agency for collector vehicles in the world and host to the largest network of collector car owners. Hagerty offers insurance for collector cars, motorcycles and motorcycle safety equipment, tractors, automotive tools and spare parts, and even "automobilia" (any historic or collectible item linked with motor vehicles). Hagerty also offers overseas shipping/touring insurance coverage, commercial coverage and club liability coverage. For more information, call (800) 922-4050 or visit www.hagerty.com.

SOURCE Hagerty Insurance Agency, Inc.

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/cb32f4/ghana_mining_repor) has announced the addition of the "Ghana Mining Report Q4 2009" report to their offering.

This Ghana Mining Report provides industry professionals and strategists, corporate analysts, mining associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Ghana's mining industry.

Ghana contains the second largest area of gold deposits in the African region after South Africa. The nation derives the bulk of its external revenue from gold mining, which accounts for over 90% of Ghana's total mineral exports. Apart from gold, Ghana also produces significant quantities of bauxite and diamonds. The country is also counted among the top five nations across the globe for its manganese ore production. Ghana is home to some of the biggest names from the global extractive industry: Gold Fields (Ghana), Newmont Ghana and South Africa's AngloGold Ashanti.

In 2008, overall revenues from the Ghanaian mining sector reached US$2.3bn, an increase of 28% year-on-year (y-o-y), according to figures released by the Ghana Chamber of Mines in June 2009. Gold revenues stood at US$2.2bn, with output of 2.6mn oz (up 4% y-o-y) selling at an average realised price of US$852 per oz. Manganese revenue was up by a stellar 69%, to US$62.34mn, while bauxite revenue was essentially flat, at US$19.81mn.

Looking forward, Chamber of Mines President Jurgen Eijgendaal said that 2009 would be a mixed year for Ghana's mining industry. He expects gold to perform well, while bauxite and manganese exports could fall as a result of a decline in demand.

Though the mining industry has been successful in attracting foreign capital, it has also been subject to criticism from the Ghanaian government, environmentalists and human rights activists. Foreign players have been known to exploit legal loopholes and abuse both human rights as well as the environment. However, stakeholders in the mining sector claim that regulations pertaining to compensation need to be updated; that the price levels for valuing crops, livestock and landed property have not been reviewed for a number of years. They also point out that in other African countries, such as Tanzania, the state pays the compensation and not the miner.

The basic law governing the mining industry is the Minerals and Mining Act 2006 (Act 703). Under the law, the president holds the power to grant mining rights. However, the pressure to amend the law and allow farmers to have a say in authorising their lands for mining activity is increasingly gaining favour in the country, and is being seen as a necessary move to crack down on the rampant exploitation of the environment by mining industries.

Frequent disruption to power supplies is another challenge and continues to escalate operating costs in mining operations. In June 2008, the Ghanaian cabinet gave the go-ahead for the country to develop a nuclear power sector. If realised, the new plant will diversify the country's power sector and offer the boost in generation that Ghana requires to meet demand.

Industry Forecast With gold being Ghana's principal asset and prices remaining strong, forecasts for the mining sector in Ghana are more positive than for some of its African neighbours. In calculating its forecasts, BMI has also taken account of the vast untapped potential of Ghana's mining industry. In recognition of this potential, the publisher expects the value of the mining industry to increase from US$0.74bn in 2008 to US$1.02bn in 2013.

However, Ghana is still many leagues behind South Africa when it comes to regulations to protect the rights of communities in the vicinity of mining operations. Injustice against the mining communities and lack of proper compensation is an everyday affair that usually passes unnoticed. Indeed, according to the Ministry of Mines and Energy, approximately 30% of Ghana's land is under concession to mining companies, and every year more farmland is converted for this use. The Commission on Human Rights and Administrative Justice (CHRAJ) claims that Ghana's mining laws are designed to attract foreign investors and not to protect the rights of communities. Particular problems include the pollution of water sources, the deprivation of land and the loss of livelihoods.

Key Topics Covered:

    --  Executive Summary
    --  SWOT Analysis
    --  Special Focus: Outlook For Global Mining
    --  Industry Trends And Developments
    --  Business Environment
    --  Industry Forecast Scenario
    --  Competitive Landscape
    --  Global Assumptions
    --  Appendix: Business Environment Ratings

Companies Mentioned:

    --  Gold Fields,
    --  Newmont Ghana,
    --  AngloGold Ashanti

For more information visit http://www.researchandmarkets.com/research/cb32f4/ghana_mining_repor

    Source: Research and Markets Ltd

ROSH HAAYIN, Israel, November 11 /PRNewswire-FirstCall/ -- Pointer Telocation Ltd. (Nasdaq Capital Market: PNTR, Tel-Aviv Stock Exchange: PNTR) - a leading provider of Automatic Vehicle Location (AVL) technology, stolen vehicle retrieval services, fleet management, car & driver safety, public safety, vehicle security, asset management and road side assistance, announced today its financial results for the first nine months and third quarter of 2009.

Financial Highlights:

Revenues: Pointer's revenues for the third quarter of 2009 decreased by 18%, to $16.9 million, from $20.7 million in the comparable period in 2008. In the first nine months of 2009, revenues were $48.5 million, a 17% decrease over the same period of 2008. Pointer's revenues from services in the third quarter and the first nine months of 2009 were 68% and 69%, respectively, of total revenues, as compared with 58% and 59% for these periods in 2008, respectively. International activities for the third quarter of 2009 were 21% of total revenue compared to 31.5% in the comparable period in 2008.

Gross Profit: For the third quarter of 2009, gross profit decreased 8% to $7 million from $7.7 million in the third quarter of 2008. As a percentage of revenues, gross profit was 41% in the third quarter of 2009, as compared to 37% in the third quarter of 2008. In the first nine months of 2009, gross profit decreased 7.7% to $20.5 million from $22.3 million in the first nine months of 2008. Gross margin for the first nine months of 2009 was 42%, as compared to 38% for the first nine months of 2008.

Operating Income: Pointer's operating income increased 9% to $2.5 million in the third quarter of 2009, compared to operating income of $2.3 million for the third quarter of 2008. Operating margin was 15% in the third quarter of 2009, as compared to approximately 11% in the third quarter of 2008. In the first nine months of 2009, operating income was $2.7 million compared to $7.1 million for the same period of 2008. In the first nine months of 2009, the operating income was primarily affected by the non-cash impairment of $3.0 million, attributable to a revised estimate of the fair market value of the business with certain customers of the Cellocator business which we acquired in September 2007. Excluding this non-cash impairment, operating income during the first nine months of 2009 was $5.7 million.

Net Income: Pointer recorded net income attributable to Pointer shareholders of $1.1 million or $0.23 per share in the third quarter of 2009, as compared to net income of $0.7 million or $0.15 per share in the third quarter of 2008. Net income attributable to a non-controlling interest in affiliates in the third quarter of 2009 was $0.7 million compared to $0.4 million for the third quarter of 2008. For the third quarter of 2009 the net income, before giving effect to the exclusion of those earnings relating to non-controlling interests in accordance with SFAS 160, was $1.8 million.

For the first nine months of 2009, Pointer recorded net loss attributable to Pointer shareholders of $1.7 million or ($0.38) per share, compared to net income of $2.3 million or $0.48 per share in the same period of 2008. Net income attributable to non-controlling interest in affiliates in the first nine months of 2009 was $2.4 million compared to $1.3 million for the third quarter of 2008. For the first nine months of 2009, the net income, before giving effect to the exclusion of those earnings relating to non-controlling interests in accordance with SFAS 160, was $0.7 million.

Non-GAAP net income attributable to Pointer: Pointer recorded non-GAAP net income of $1.9 million during the third quarter of 2009, as compared to non-GAAP net income of $1.6 million in the third quarter of 2008. For the first nine months of 2009, Pointer's non-GAAP net income was $3.5 million, compared to non-GAAP net income of $5.1 million in the same period of 2008. An explanation of how we derive Non-GAAP net income is included on the first paragraph in page four of this press release.

EBITDA: Pointer's EBITDA for the third quarter of 2009 and for the first nine months of 2009 was $3.6 million and $9.3 million, respectively, as compared to $3.8 million and $11.9 million in the comparable periods of 2008.

Danny Stern, Pointer CEO, said: "We are proud to report improved gross margins. These are the outcome of measures taken to improve our efficiency over the past challenging four quarters of industrial and global slowdown. The gross margins will support profitability when the economy picks-up. Our services sector seems to have overcome the slowdown. Our product & technology division still demonstrates weakness in revenues, although the above-mentioned efficiency measures partly offset the slowdown's negative impact on income. Our Latin American subsidiaries have reported improved performance. As we have stated in previous quarters, our strong cash generative business, which yielded $9.3M in EBITDA during the first nine month of 2009, enables us to continue our R&D efforts. Our R&D efforts are designed to offer our partners as-of mid 2010, the next generation of our products & technologies. These efforts, we believe, will further contribute to our showing of improved profitability."

Mr. Stern concluded that Pointer expects to be able to leverage a market upturn as a result of its decreasing debt to equity ratio. He also noted that this reduction in debt is a key indicator of the group's strength.

Conference Call Information:

Pointer Telocation's management will host a conference call with the investment community to review and discuss the financial results:

Conference call will take place today, November 11th, 2009 on 9:30 AM EST, 16:30 Israel time.

To listen to the call, please dial in to one of the following teleconferencing numbers. Please begin placing your call at least 5 minutes before the conference call commences.

                            From USA: +1-888-407-2553

                            From Israel: 03-918-0609

                         International: +972-3-918-0609

A replay of the conference call will be available through November 12th, 2009 on the Company's website at http://www.pointer.com.

Reconciliation between results on a GAAP and Non-GAAP basis.

Reconciliation between results on a GAAP and Non-GAAP basis is provided in a table immediately following the Condensed Interim Consolidated Statements of Cash Flows. Non-GAAP net income consist of GAAP net income adjusted to exclude amortization of acquired intangible assets, deferred income tax, impairment of long-lived assets and a onetime non-cash expense relating to a loan discount in the amount of $0.7 million as part of a loan replacement which we reported in the second quarter of 2009, as well as certain business combination accounting entries. The purpose of such adjustments is to give an indication of our performance exclusive of non-GAAP charges and other items that are considered by management to be outside of our core operating results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP.

Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. We believe that these non-GAAP measures help investors to understand our current and future operating cash flow and performance, especially as our three most recent acquisitions have resulted in amortization and non-cash items that have had a material impact on our GAAP profits. These non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies. Reconciliation between results on a GAAP and non-GAAP basis is provided in a table immediately following the consolidated statements of cash flows in this press release.

Pointer uses EBITDA as a non-GAAP financial performance measurement. EBITDA is calculated by adding back to net income interest, taxes and depreciation and amortization including in respect of our non-cash impairment charge related to the fair market value of the business with certain customers from our acquisition of Cellocator. EBITDA is provided to investors to complement results provided in accordance with GAAP, as management believes the measure helps illustrate underlying operating trends in the Company's business and uses the measure to establish internal budgets and goals, manage the business and evaluate performance. EBITDA should not be considered in isolation or as a substitute for comparable measures calculated and presented in accordance with GAAP. A reconciliation of EBITDA to GAAP measures is provided in a table immediately following the consolidated statements of cash flows in this press release.

Forward Looking Statements

This press release contains historical information and forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 with respect to the business, financial condition and results of operations of the Company. The words "believe," "expect," "anticipate," "intend," "seems," "plan," "aim," "should" and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views, assumptions and expectations of the Company with respect to future events and are subject to risks and uncertainties. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in the markets in which the Company operates and in general economic and business conditions, loss or gain of key customers and unpredictable sales cycles, competitive pressures, market acceptance of new products, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, both referenced and not referenced in this press release. Various risks and uncertainties may affect the Company and its results of operations, as described in reports filed by the Company with the Securities and Exchange Commission from time to time. The Company does not assume any obligation to update these forward-looking statements.

About Pointer Telocation:

Pointer Telocation is a leading provider of technology and services to the automotive and insurance industries, offering a set of services including Road Side Assistance, Stolen Vehicle Recovery and Fleet Management. Pointer has a growing client list with products installed in over 400,000 vehicles across the globe: the UK, Greece, Mexico, Argentina, Brazil, Russia, Croatia, Germany, Czech Republic, Latvia, Turkey, Hong Kong, Singapore, India, Costa Rica, Norway, Venezuela, Hungary, Israel and more. Cellocator, a Pointer Products Division, is a leading AVL (Automatic Vehicle Location) solutions provider for stolen vehicle retrieval, fleet management, car & driver safety, public safety, vehicle security and more. In 2004, Cellocator was selected as the official security and location equipment supplier for the Olympic Games in Athens. For more information: http://www.pointer.com.

    CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS
    U.S. dollars in thousands

                                                  September 30,  December 31,
                                                       2009           2008
                                                     Unaudited

    ASSETS

    CURRENT ASSETS:
    Cash and cash equivalents                           $ 3,013       $ 2,708
    Trade receivables, net                               14,250        13,509
    Other accounts receivable and prepaid
    expenses                                              3,451         2,774
    Inventories                                           2,642         3,999

    Total current assets                                 23,356        22,990

    LONG-TERM ASSETS:
    Long-term accounts receivable and deferred
    expenses                                                647           339
    Severance pay fund                                    5,993         4,925
    Property and equipment, net                           8,838         7,998
    Deferred income taxes                                 1,049         1,037
    Other intangible assets, net                          9,736        14,894
    Goodwill                                             51,411        50,416

    Total long-term assets                               77,674        79,609

    Total assets                                      $ 101,030     $ 102,599


    CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS
    U.S. dollars in thousands (except share and per share data)

                                                   September 30, December 31,
                                                       2009           2008
                                                     Unaudited

    LIABILITIES AND SHAREHOLDERS' EQUITY

    CURRENT LIABILITIES:
    Short-term bank credit and current maturities
    of long-term loans                                $ 10,698       $ 7,849
    Trade payables                                       8,092         8,613
    Deferred revenues and customer advances              9,792         8,701
    Other accounts payable and accrued expenses          6,107         5,792

    Total current liabilities                           34,689        30,955

    LONG-TERM LIABILITIES:
    Long-term loans from banks                          15,963        20,520
    Long-term loans from shareholders and others           974         3,305
    Other long-term liabilities                            580           257
    Accrued severance pay                                7,036         6,375

    Total long-term liabilities                         24,553        30,457

    Shareholders' equity *)                             41,788        41,187

    Total liabilities and shareholders' equity       $ 101,030     $ 102,599


    *) Reclassification due to the adoption of SFAS 160.
    INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
    U.S. dollars in thousands (except share and per share data)

                              Nine months           Three months        Year
                                 ended                  ended          ended
                                                                     December
                             September 30,          September 30,       31,
                           2009        2008      2009        2008      2008
                                           Unaudited
    Revenues:
    Products
                        $15,101      $24,029    $ 5,395     $ 8,708  $ 30,645
    Services             33,354       34,567     11,500      12,003    46,010

    Total revenues       48,455       58,596     16,895      20,711    76,655

    Cost of revenues:
    Products              7,974       12,837      2,555       4,725    16,392
    Services             19,190       22,757      7,086       8,084    29,869
    Amortization of
    intangible assets       738          735        246         245       980

    Total cost of
    revenues             27,902       36,329      9,887      13,054    47,241

    Gross profit         20,553       22,267      7,008       7,657    29,414

    Operating expenses:
    Research and
    development, net      2,113        1,792        653         621     2,511
    Selling and
    marketing             4,461        5,408      1,482       1,931     6,934
    General and
    administrative        6,777        6,130      1,903       2,210     8,311
    Amortization of
    intangible assets     1,489        1,818        442         583     2,365
    Impairment of
    intangible assets     2,959            -          -           -         -

    Total operating
    expenses             17,799       15,148      4,480       5,345    20,121

    Operating income      2,754        7,119      2,528       2,312     9,293
    Financial expenses,
    net                   1,574        3,252        477       1,077     4,054
    Other( income)
    expenses, net            15         (19)          3           -      (22)

    Income before taxes
    on income              1,165       3,886      2,048       1,235     5,261
    Taxes on income           79         320         38          90       640

    Income after Income
    taxes                  1,086       3,566      2,010       1,145     4,621
    Equity in losses of
    affiliate                382           -        191           -         -

    Net income *)
                           $ 704      $3,566     $ 1,819     $ 1,145  $ 4,621

    Less: net income
    attributable to the
    noncontrolling
    interest *)          $ 2,429      $1,303       $ 692       $ 431  $ 2,248

    Net income (loss)
    attributable to
    Pointer's
    shareholders        $(1,725)      $2,263     $ 1,127       $ 714  $ 2,373

    Basic net earnings
    (loss) per share     $(0.36)      $ 0.49      $ 0.24      $ 0.15   $ 0.51

    Diluted net earnings
    (loss) per share     $(0.38)      $ 0.48      $ 0.23      $ 0.15   $ 0.50


    *) Reclassification due to the adoption of SFAS 160.
    INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
    U.S. dollars in thousands

                                                    Three months        Year
                          Nine months ended             ended          ended
                                                                     December
                            September 30,           September 30,       31,
                          2009         2008       2009        2008      2008
                                          Unaudited
    Cash flows from
    operating
    activities:
    Net income *)        $ 704       $ 3,566     $ 1,819     $ 1,145  $ 4,621

    Adjustments
    required to
    reconcile net
    income to net cash
    provided by
    operating
    activities:
    Depreciation
    ,amortization and
    impairment           6,934         5,036       1,281       1,613    6,918

    Accrued interest
    and exchange rate
    changes of
    convertible
    debenture and
    long-term loans      (113)         1,214          16        (30)    1,187

    Accrued severance
    pay, net             (415)           365       (160)         198      619

    Gain (loss) from
    sale of property
    and equipment, net   (205)         (133)        (67)          25     (36)

    Equity in losses of
    affiliate              382             -         191           -        -

    Amortization of
    deferred
    stock-based
    compensation           318           226          48          86      350

    Decrease (increase)
    in trade
    receivables, net     (568)       (3,313)          91     (1,039)  (1,773)

    Decrease (increase)
    in other accounts
    receivable and
    prepaid expenses     (384)         (551)       (229)         175      (6)

    Decrease (increase)
    in inventories         156       (1,088)       (150)       (821)  (2,088)

    Decrease (increase)
    in long-term
    accounts receivable
    and deferred
    expenses             (226)            49        (63)           1       23

    Write-off of
    inventories             39            75                      75      112

    Increase in
    deferred income
    taxes                    -             -           -           -    (178)

    Increase (decrease)
    in trade payables    (339)         1,958         347       1,821      888

    Increase (decrease)
    in other accounts
    payable and accrued
    expenses             1,072           163       (820)     (1,418)      379

    Net cash provided
    by operating
    activities           7,355         7,567       2,304       1,831   11,016

    Cash flows from
    investing
    activities:
    Purchase of
    property and
    equipment          (2,525)       (2,537)     (1,188)       (761)  (3,476)

    Proceeds from sale
    of property and
    equipment              861           512         302         133      605

    Investments in
    affiliate            (300)             -       (100)           -        -

    Acquisition of
    subsidiary (a)        (38)             -           -           -        -

    Increase in
    long-term accounts
    receivable               -         (247)           -        (19)    (357)

    Net cash used in
    investing
    activities         (2,002)       (2,272)       (986)       (647)  (3,228)

    Cash flows from
    financing
    activities:
    Receipt of
    long-term loans
    from banks               -         9,254           -       2,155    9,064

    Repayment of
    long-term loans
    from banks         (4,423)       (2,727)     (1,553)       (639)  (4,930)
    Repayment of
    long-term loans
    from shareholders
    and others            (23)      (10,394)         (8)     (1,526) (10,201)
    Dividend paid to
    the noncontrolling
    interest             (871)             -       (285)           -
    Proceeds from
    issuance of shares
    and exercise of
    warrants, net            -         1,000           -       1,000    1,000
    Short-term bank
    credit, net            414       (1,137)         848       (512)    (970)

    Net cash provided
    by (used in)
    financing
    activities         (4,903)       (4,004)       (998)         478  (6,037)

    Effect of exchange
    rate on cash and
    cash equivalents     (145)          (44)       (135)         247    (243)

    Increase in cash
    and cash
    equivalents            305         1,247         185       1,909    1,508
    Cash and cash
    equivalents at the
    beginning of the
    period               2,708         1,200       2,828         538    1,200

    Cash and cash
    equivalents at the
    end of the period  $ 3,013       $ 2,447     $ 3,013     $ 2,447  $ 2,708


    *) Reclassification due to the adoption of SFAS 160.
    CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
    U.S. dollars in thousands

                                   Nine months         Three months
                                      ended               ended         Year
                                                                       ended
                                  September 30,         September    December
                                                           30,          31,
                               2009        2008     2009      2008    2008
                                             Unaudited

        Acquisition of
    (a) subsidiary

        Fair value of assets
        acquired and
        liabilities assumed
        at date of
        acquisition:

        Working capital         (40)          -        -        -         -
        Property and
        equipment                 60          -        -        -         -
        Customer list             24          -        -        -         -
        Goodwill                 384          -        -        -         -
        Accrued severance
        pay, net                (12)          -        -        -         -
        Shareholders loan      (122)          -        -        -         -
        Minority interest      (256)          -        -        -         -

                                  38          -        -        -         -



    Reconciliation Tables of Non-GAAP Measures
    U.S. dollars in thousands
    Reconciliation of GAAP net income to non-GAAP net income is as follows:

                                                                       Year
                                                    Three months       ended
                            Nine months ended           ended
                                                                     December
                              September 30          September 30        31
                            2009        2008       2009       2008     2008
                           Unaudited

    GAAP Net income as
    reported:              $ 704       $ 3,566    $1,819     $1,145   $ 4,621
    Net income
    attributable to the
    noncontrolling
    interest              (2,429)      (1,303)     (692)      (431)   (2,248)

    Amortization of
    intangible assets       2,227       2,553        688        828     3,345

    Impairment of
    long-lived assets       2,959           -          -          -         -

    Loan Discount               -           -          -          -       704

    Tax on income              79         320         38         90       640

    Non-GAAP Net income
                          $ 3,540     $ 5,136     $1,853     $1,632   $ 7,062

Reconciliation of GAAP net income to EBITDA

To supplement the consolidated financial statements presented in accordance with generally accepted accounting principles ("GAAP"), the Company uses EBITDA as a non-GAAP financial performance measurement. EBITDA is calculated by adding back to net income interest, taxes, depreciation, amortization and minority interest. EBITDA is provided to investors to complement results provided in accordance with GAAP, as management believes the measure helps illustrate underlying operating trends in the Company's business and uses the measure to establish internal budgets and goals, manage the business and evaluate performance. EBITDA should not be considered in isolation or as a substitute for comparable measures calculated and presented in accordance with GAAP. Reconciliation of the GAAP to non-GAAP operating results is as follows:

    CONDENSED EBITDA
    US dollars in thousands

                                                                       Year
                                                                      ended
                         Nine months ended      Three months ended
                                                                     December
                           September 30            September 30         31
                          2009        2008       2009        2008      2008
                        Unaudited

    GAAP Net income as
    reported:              $ 704     $3,566      $1,819     $ 1,145  $ 4,621
    Financial
    expenses, net          1,574      3,252         477       1,077    4,054
    Tax on income             79        320          38          90      640
    Depreciation
    ,amortization and
    impairment             6,933      4,719       1,279       1,524    6,116

    EBITDA
                        $ 9,290     $11,857     $ 3,613      $3,836  $15,431



    Contact:

    Zvi Fried, V.P. and           Yael Nevat,
    Chief Financial Officer       Commitment-IR.com
    Tel: +972-3-572-3111          Tel: +972-9-741-8866
    E-mail: zvif@pointer.com      E-mail: yael@commitment-IR.com

SOURCE Pointer Telocation Ltd

SAN FRANCISCO, Nov. 11 /PRNewswire-FirstCall/ -- The National PTA and Jamba Inc. announced today a three-year partnership to support parents and teachers in creating school-based programs that encourage healthy lifestyle choices. With the goal of raising $1 million to support these initiatives, the partnership between National PTA and Jamba Juice leverages the strengths of both organizations to improve the health and academic performance of the nation's students by providing local PTAs with additional funding for their wellness programs. The partnership builds upon Jamba's longtime commitment to supporting local schools through fundraising efforts at the store level and furthers National PTA's mission to increase family engagement in their children's school by providing additional funding for local PTAs to create and execute programs that promote physical activity and encourage healthier eating.

To view the Multimedia News Release, go to: http://multivu.prnewswire.com/mnr/jambajuice/41115/

(Photo: http://www.newscom.com/cgi-bin/prnh/20091111/NY09282)

These initiatives can run the gamut from bike-to-school programs, family fit nights, walkathons, health fairs and a myriad of other activities to get kids excited about exercising and making smarter food choices. To support these initiatives, Jamba and National PTA have created a School Appreciation Card -- a keychain sized swipe card that can be used with every purchase at participating Jamba Juice locations. Simply go to a participating Jamba Juice store, make a purchase, swipe the card and 12% of sales will be donated back to PTA --10% to Local PTA and 2% to National PTA. Local PTAs can visit www.jambajuice.com/PTA, register for the swipe cards and a Jamba Juice team member will ship them out, letting the fun-draising begin! With a strong correlation between parent involvement in their children's schools and overall student achievement, the Jamba Juice and National PTA partnership is designed to empower local parents and communities to take charge of their children's health and academic achievement.

"Jamba Juice has a great history of supporting schools and students through local event sponsorships and fundraising initiatives where neighborhood Jamba Juice stores donate a percentage of the sales back to participating schools," said Charles J. "Chuck" Saylors, National PTA president. "We are excited to join with the company in this new partnership, which will enable us to further support the impressive grassroots efforts of local PTAs across the country in improving the health and academic performance of their student bodies."

"We have always had a strong presence in our local schools and communities and this new partnership will allow us to further assist in improving the wellbeing and academic achievement of our nation's students," said James D. White, president and CEO, Jamba Juice. "Joining with National PTA in this type of partnership is a natural fit for Jamba and will enable us to support schools and communities more effectively than ever before. For many of these local PTAs, the ingenuity to create solutions is there, but the funds may not be and we look forward to the opportunity to lend a hand in support."

Jamba Juice and National PTA officially kicked-off the partnership Monday with an event in San Francisco honoring 45 PTA schools from across the country for their innovative efforts in improving the health and academic success of their children. Hosted by the Chinese Immersion School at DeAvila in San Francisco - one of this year's honorees - the event is part of National PTA's Healthy Lifestyles Month and each winning school will receive up to a $1,000 grant in recognition of their outstanding achievement. The National PTA was able to double the number of grants it usually awards with a generous donation from Jamba Juice, allowing it to better recognize the great work of the nation's top performing PTAs.

About National PTA: National PTA comprises millions of families, students, teachers, administrators, and business and community leaders devoted to the educational success of children and the promotion of parent involvement in schools. PTA is a registered 501(c)(3) nonprofit association that prides itself on being a powerful voice for all children, a relevant resource for families and communities, and a strong advocate for public education. Membership in PTA is open to anyone who wants to be involved and make a difference for the education, health, and welfare of children and youth.

About Jamba, Inc.: Jamba, Inc. (Nasdaq: JMBA) is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE® stores. Founded in 1990, Jamba Juice is a leading restaurant retailer of better-for-you food and beverage offerings, including great tasting fruit smoothies, juices, and teas, hot oatmeal made with organic steel cut oats, wraps, salads, sandwiches, and California Flatbreads(TM), and a variety of baked goods and snacks. As of October 6, 2009, Jamba Juice had 742 locations consisting of 488 company-owned and operated stores and 254 franchise stores. For the nearest location or a complete menu, visit the Jamba Juice website at www.jambajuice.com or call 1-866-4R-FRUIT.

Forward-looking Statements

This press release (including information incorporated or deemed incorporated by reference herein) contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations, estimates, forecasts, and projects as well as the current beliefs and assumptions of our management. Words such as "outlook", "believes", "expects", "appears", "may", "will", "should", "anticipates", or the negative thereof or comparable terminology, are intended to identify such forward looking statements. Any statement that is not a historical fact, including estimates, projections, future trends and the outcome of events that have not yet occurred, is a forward-looking statement. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. Therefore actual results may differ materially and adversely from those expressed in any forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed under the section entitled "Risk Factors" in our reports filed with the SEC. Many of such factors relate to events and circumstances that are beyond our control. You should not place undue reliance on forward-looking statements. The Company does not assume any obligation to update the information contained in this press release.

SOURCE Jamba, Inc.

SAN FRANCISCO, Nov. 11 /PRNewswire/ -- Rutberg & Company today announced the attendees for Future:Mobile 2009, its invitation-only conference for 200 senior executives, taking place December 1, 2009 in Silicon Valley.

Notably, nearly one in four of all registered attendees are from the company headquarters of leading domestic and international carriers. Further, almost half of confirmed participants are from global device manufacturers, infrastructure vendors, content providers, and Internet companies.

"In partnership with GSMA Mobile Innovation, Rutberg & Company is assembling, for the first time, a group of major carrier and vendor executives and bringing them to Silicon Valley to connect with leading venture capital firms and their portfolio companies," observed Rajeev Chand, Managing Director and Senior Equity Analyst, Wireless, Rutberg & Company. "We are pleased with the global, high level participation from these constituencies, which will create a unique opportunity to examine innovation across the ecosystem and to facilitate new business and corporate development opportunities among the participants."

Future:Mobile 2009, featuring the GSMA Mobile Innovation Grand Prix - Americas Tournament, is a one-day forum that catalyzes information exchange and deal making between private companies, public companies, investors, and service providers in the wireless industry. Attendance is limited to senior executives who are responsible for innovation assessment and adoption, strategic partnerships, investments, and acquisitions within their organizations.

    Selected confirmed Future:Mobile 2009 participants include:

    Bill Alberth, VP and CTO, Mobile Devices, Motorola
    Bob Azzi, SVP, Networks, Sprint Nextel
    Eric Bader, Partner, Brand in Hand
    Hugh Bradlow, CTO, Telstra
    Alan Brenner, SVP, BlackBerry Platform, Research In Motion
    Rob Chandhok, SVP, Qualcomm
    David Christopher, CMO, AT&T Mobility and Consumer Markets
    Steve Glagow, VP, Marketing Operations, Orange Group
    Louis Gump, VP, Mobile, CNN
    Jack Hakimian, Director, Strategy, Zain
    Brian Higgins, Executive Director, Ecosystem Development, Verizon Wireless
    Nikos Katinakis, VP, Strategy and Technology, Rogers Wireless
    Terry Kramer, Regional President, Vodafone Americas
    Linda Liu, Chief Representative, China Mobile Communications Company, US
    Brandon Lucas, VP and GM, Mobile, Black Entertainment Television
    Kyle Malady, VP, Product Development, Verizon Wireless
    Ian McKerlich, Director, Broadband Products and Services, T-Mobile USA
    Toshio Miki, Managing Director, Communication Device Development
     Department, NTT DOCOMO
    Henri Moissinac, Director, Mobile, Facebook
    Dinesh Moorjani, SVP, Mobile, IAC
    David Neale, SVP, Products and Services, TELUS
    Mike Roudi, Group VP, Wireless Services, Time Warner Cable
    Ira Rubenstein, EVP, Global Digital Media Group, Marvel Entertainment
    Frederic Schepens, EVP, Strategic Business Development, Belgacom
    Andrew Stalbow, SVP, Fox Mobile Entertainment
    Jan Uddenfeldt, SVP and Senior Technology Advisor to the CEO, Ericsson
    Michiel Van Eldik, Group Director, New Business and Innovation, Telefonica
    Matt Waddell, Chief of Staff, Mobile and Developer Products, Google

If you would like to be considered to attend Future:Mobile 2009, please send an email to futuremobile@rutbergco.com.

More information about Future:Mobile 2009 can be found at www.rutbergco.com/conferences/future-mobile-2009/index.html.

Partners and Sponsors

We are appreciative of the support from our sponsors: Generalitat de Catalonia, Townsend and Townsend and Crew, RingCentral, Sequoia Capital Partners, KPMG, Silicon Valley Bank Financial Group, Good Technology, DCM, and Harris Stratex Networks.

About Rutberg & Company

Established in 2001, Rutberg & Company is a research-centric investment bank that provides mergers and acquisitions advisory and private capital raising services to public and private companies in the wireless and digital media industries.

Through its conferences and executive forums, Rutberg & Company assembles global senior executives and financiers to network and to identify and evaluate meaningful business building opportunities within the industries under research and investment banking coverage by the firm. For additional information about Rutberg & Company, please visit www.rutbergco.com.

    Contact:
    Lanessa Izumoto
    Rutberg & Company
    415-371-1186

SOURCE Rutberg & Company, LLC