Press Releases

OREM, UT -- (MARKET WIRE) -- 07/06/09 -- Reflect Scientific, Inc. (OTCBB: RSCF), a provider of diverse scientific products and services for the biotechnology, pharmaceutical and medical industries, announced the Company is continuing the implementation of its T-150 cryogenic freezing system at a major pharmaceutical manufacturer with a tripling of the installed base. The Cryometrix T-150 technology allows a pharma manufacturer to keep critical product at very low temperatures (typically less than -150° Celsius) for extended periods of time. Maintaining a reliable and cost effective method for storing many important products is crucial to a pharma manufacturer's success. Existing mechanical freezing systems are expensive to operate and maintain.

Moving the testing process to Phase II directly results in the sale of additional freezer units and brings Reflect one step closer to very large freezer orders. Major pharma manufacturers, such as the Company completing this testing phase, often deploy many hundreds of freezers at each facility.

With this validation process and resulting FDA certification now complete, additional T-150 cryogenic freezers can be rapidly installed and certified for operation at this facility.

"The advancement of the T-150 to Phase II is excellent. This further demonstrates the ease of accomplishing c-GMP validation for the Cryometrix system. This implementation program continues to show the reliable, repeatable performance of our energy saving cryogenic freezer and we look forward to continuing our relationship as we progress toward implementing our technology throughout their entire manufacturing organization," remarked Dr. Boyd Bowdish, Principal Scientist for Reflect Scientific.

Mr. Kim Boyce, CEO of Reflect Scientific, remarked, "This repeat order is further confirmation that the T-150 freezer is being accepted and utilized in major markets. The T-150 is key for this customer because it will significantly increase capacity, substantially reduce the overall power consumption of the lab and provide redundancy in the operation. Each of these operational aspects are important attributes to any laboratory with precious and perishable biomaterials. It is our goal to sell thousands of these systems to manufacturers and military installations around the world."

About Reflect Scientific, Inc.

Reflect Scientific, Inc. and its subsidiaries provide products for life science, biotechnology and pharmaceutical industries, as well as tools and analytical services for industrial manufacturing. We develop, manufacture and market refrigeration and cryogenic preservation equipment under our brand name Cryometrix. The Ultra Low Temperature model T-150 is an "all in one" cryogenic freezing system. It is the first liquid nitrogen based, programmable cryogenic freezing system in a standard upright format, which allows for exceptional reliability, precise thermal uniformity, and no user or product exposure to liquid nitrogen. The freezer is optimized for bio-repositories, research, forensic, hospital and clinical laboratories, and other life science applications where refrigeration and cryogenic preservation is required. For more information, visit www.reflectscientific.com.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

For information related to the Reflect Scientific, contact:
Investor Relations
Michael Dancy
801-746-3570
email: Email Contact
www.reflectscientific.com

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/5b6824/airports_market_re) has announced the addition of the "Airports Market Report 2009" report to their offering.

After more than a decade of steadily rising terminal-passenger numbers at UK airports, the worsening economic situation in 2008 contributed to a downturn and the number of terminal passengers at UK airports fell by 1.9%. The combination of business failures, such as those of XL Leisure Group and Zoom Airlines, and fluctuating oil prices also had a marked effect on the numbers of trips being taken.

Despite the declining number of terminal passengers, total revenues generated by UK airports reached an estimated 3.4bn in 2008, which represented a 13% rise on 2007. The main factor boosting the value of the market in 2008 was the substantial increase in BAA Ltd's turnover, which is estimated to account for more than 70% of UK airport revenues in a typical year. The two main sources of income for airports are aviation revenue and commercial revenue. In 2008, aviation revenue, which includes aircraft runway movement charges and aircraft parking charges, accounted for the larger proportion of the total.

In March 2009, the Competition Commission confirmed the break-up of the airport operator BAA and ordered the sale of Gatwick and Stansted. In the final report of its 2-year investigation, the Commission also instructed BAA to sell either Edinburgh or Glasgow airport. The airports must be sold within 2 years and in sequence, starting with Gatwick, followed by Stansted, then Edinburgh or Glasgow. The sale by BAA of Gatwick is already under way.

The Department for Transport (DfT) has announced that passengers' needs should be put first, under new measures designed to improve the air-passenger experience and the economic regulation of airports. Under the plans, the aviation regulator, the Civil Aviation Authority (CAA), will be given a new primary duty to promote the interests of passengers. Air passengers will be represented by a new champion -- Passenger Focus -- as is the case for rail and bus users. The CAA will also be given a new secondary duty to ensure that airports meet their environmental obligations.

The global recession is expected to affect the UK air transport sector once again in 2009, with the number of terminal passengers at UK airports forecast to fall for the second year in succession. As such, it will be the first time since 1945 that UK passenger numbers have fallen for two consecutive years. In the longer term, the number of terminal passengers at UK airports is forecast to rise sharply, in line with increasing demand for air travel and the introduction of additional airport capacity.

Key Topics Covered:

Executive Summary

1. Market Definition

2. Market Size

3. Industry Background

4. Competitor Analysis

5. Strengths, Weaknesses, Opportunities and Threats

6. Buying Behaviour

7. Current Issues

8. The Global Market

9. Forecasts

10. Company Profiles

11. Further Sources

Companies Mentioned:

    --  BAA Ltd
    --  Birmingham International Airport Ltd
    --  London City Airport Ltd
    --  The Manchester Airport Group PLC
    --  Newcastle International Airport Ltd
    --  PeEL Holdings (Airports) Ltd
    --  TBI Ltd

For more information visit http://www.researchandmarkets.com/research/5b6824/airports_market_re

    Source: Research and Markets

MINNEAPOLIS--(BUSINESS WIRE)-- Regis Corporation (NYSE: RGS), the global leader in the $170 billion hair care industry, today announced a public offering of common stock and convertible senior notes and also reported fourth quarter and fiscal year 2009 revenue results.

In connection with the common stock and convertible senior note offerings, Regis Corporation (the "Company") has undertaken several initiatives aimed at reequitizing and deleveraging its balance sheet. It has amended its revolving credit facility and term loan facility and private shelf facility in order to provide relief with respect to certain covenants, particularly by lowering its fixed charge coverage ratio requirement from 1.5 to 1.3 times. As of March 31, 2009, the Company's fixed charge coverage ratio was 1.61 times. As a result of the amendments, the capacity under the Company's revolving credit facility has been reduced from $350 million to $300 million and the Company expects the coupon rate on its credit facilities and private placement notes to initially increase by a range of 0% to 1.75%, with an expected weighted average increase of 1.1%. Additionally, the Company plans to use the net proceeds of these offerings to repay $267 million aggregate principal amount of certain outstanding senior notes. The Company has negotiated to prepay these notes with a premium over their principal amount that is less than the current make-whole premium. The Company believes that these initiatives strengthen its balance sheet, improve its leverage ratios and provide additional flexibility to resume its long-term growth strategy when the economy recovers or when customer visitation patterns normalize. These initiatives are contingent upon the completion of the concurrent note and common stock offerings and certain other conditions in the amendments.

In addition, Regis reported that consolidated revenues decreased 2.5 percent in the fourth fiscal quarter of 2009 to $625 million, compared to $641 million a year ago. As expected, fourth quarter total same-store sales decreased 4.0 percent. Fiscal year 2009 same-store sales decreased 3.1 percent.

The Company also provided an update on several fourth quarter items. The Company now believes that total debt at the end of fiscal 2009 is expected to be between $635 and $650 million, significantly below the previously announced goal of $700 million. The Company's debt stood at $807 million as of September 30, 2008. The debt reduction was primarily the result of reducing overhead expenses, efficiently managing working capital and international cash balances, and reducing capital expenditures for new stores and acquisitions.

The Company also noted items which may result in non-cash charges in the fourth quarter. The Company is implementing an initiative to improve U.K. profitability by closing underperforming salons. The economy has been particularly hard on the Company's U.K. operations and there are up to 80 unprofitable salons which the Company is now attempting to close. The Company believes the closure of these salons will add to future profitability. The Company expects to record a non-cash fixed asset write-off in the fourth quarter of approximately $3.5 million related to these closures. Next, the Company has a 30% ownership interest in Provalliance, the largest operator and franchisor of hair salons on the European continent. Until recently, this business had been fairly resilient to the economic slow down; however, in more recent periods the economy has had a significant impact and we are now expecting the economy to negatively impact the Provalliance results of operations for 2009, which may result in a non-cash charge which may be material to this investment. In addition, the earnings of Provalliance, and our reported non-cash 30% equity interest in earnings reported in the fourth quarter, are expected to be well below our historical reported results and our initial expectations. The Provalliance results are reported on the income statement as an equity investment below operating income.

Fourth Quarter Revenues:

Premier Salons Beauty, Inc. (Premier) purchased Trade Secret, Inc. from Regis Corporation on February 16, 2009. The agreement included a provision that Regis Corporation will supply product to Premier at cost for a transition period of approximately six months following the date of the sale, with possible extension to not more than eleven months. Reported fourth quarter 2009 North American product revenues include $20 million of sales to Premier at Regis' cost. These sales favorably impacted consolidated total revenue growth by 3.1 percent and consolidated product revenue growth by 14.3 percent.

                  For the Three Months Ended June 30, 2009

                  Salons                        Hair Restoration

                  North America  International  Centers           Consolidated

(Dollars in
thousands)

Revenues:

 Service          $ 416,521      $ 33,593       $ 16,540          $ 466,654

 Product            97,188         12,387         18,727            128,302

 Product sold to    19,640         -              -                 19,640
 Premier

 Royalties and      9,492          -              631               10,123
 fees

 Total            $ 542,841      $ 45,980       $ 35,898          $ 624,719

                For the Three Months Ended June 30, 2008

                Salons                        Hair Restoration

                North America  International  Centers           Consolidated

(Dollars in
thousands)

Revenues:

 Service        $ 428,518      $ 46,954       $ 16,259          $ 491,731

 Product          102,402        16,799         18,502            137,703

 Royalties and    10,127         -              977               11,104
 fees

 Total          $ 541,047      $ 63,753       $ 35,738          $ 640,538

Fourth Quarter Same-Store Sales:

For the Three Months Ended June 30,

                             2009                       2008

                             Service  Retail   Total    Service  Retail  Total

Regis Salons                 -10.0 %  -16.2 %  -11.0 %  -0.1 %   -5.1 %  -0.9 %

MasterCuts                   -1.8     -7.6     -2.8     5.9      -6.9    3.4

Supercuts                    1.1      -0.1     1.0      4.4      3.1     4.3

Promenade                    -3.6     -9.4     -4.2     3.2      2.8     3.1

SmartStyle                   0.3      -0.5     0.1      6.5      -2.1    3.6

Domestic Same-Store Sales    -3.5  %  -5.8  %  -3.9  %  3.4  %   -2.0 %  2.4  %

International Same-Store     -7.3  %  -4.9  %  -6.6  %  -4.6 %   -4.3 %  -4.5 %
Sales

Hair Restoration Same-Store  -2.3  %  -0.5  %  -1.4  %  3.7  %   2.0  %  2.8  %
Sales

Consolidated Same-Store      -3.7  %  -5.0  %  -4.0  %  2.7  %   -1.9 %  1.7  %
Sales

International same-store sales for the quarter represent the 16-week period ended June 27, 2009 versus the 16-week period ended June 28, 2008.

Fiscal Year Revenues:

Premier Salons Beauty, Inc. (Premier) purchased Trade Secret, Inc. from Regis Corporation on February 16, 2009. The agreement included a provision that Regis Corporation will supply product to Premier at cost for a transition period of approximately six months following the date of the sale, with possible extension to not more than eleven months. Reported fiscal year 2009 North American product revenues include $32 million of sales to Premier at Regis' cost. These sales favorably impacted consolidated total revenue growth by 1.3 percent and consolidated product revenue growth by 5.8 percent.

                  For the 12 Months Ended June 30, 2009

                  Salons                        Hair Restoration

                  North America  International  Centers           Consolidated

(Dollars in
thousands)

Revenues:

 Service          $ 1,646,258    $ 122,672      $ 65,138          $ 1,834,068

 Product            402,124        48,901         72,795            523,820

 Product sold to    32,237         -              -                 32,237
 Premier

 Royalties and      37,114         -              2,509             39,623
 fees

 Total            $ 2,117,733    $ 171,573      $ 140,442         $ 2,429,748

                For the 12 Months Ended June 30, 2008

                Salons                            Hair Restoration

                North America  International (1)  Centers           Consolidated

(Dollars in
thousands)

Revenues:

 Service        $ 1,635,238    $ 165,379          $ 61,873          $ 1,862,490

 Product          414,909        67,078             69,299            551,286

 Royalties and    39,599         23,606             4,410             67,615
 fees

 Total          $ 2,089,746    $ 256,063          $ 135,582         $ 2,481,391

(1) On January 31, 2008, Regis Corporation merged its continental European franchise salon operations with the Franck Provost Salon Group.

Fiscal Year Same-Store Sales:

For the 12 Months Ended June 30,

                               2009                      2008

                               Service  Retail   Total   Service  Retail  Total

Regis Salons                   -8.2 %   -13.3 %  -9.0 %  0.7  %   0.0  %  0.5  %

MasterCuts                     -0.2     -8.3     -1.7    3.5      -6.5    1.5

Supercuts                      1.0      -1.2     0.7     4.4      -1.0    3.8

Promenade                      -1.8     -5.0     -2.2    2.7      1.8     2.6

SmartStyle                     1.2      -2.2     0.1     3.6      -2.1    1.7

Domestic Same-Store Sales      -2.3 %   -5.6  %  -2.9 %  2.6  %   -1.4 %  1.8  %

International Same-Store       -8.0 %   -5.5  %  -7.2 %  -5.1 %   -2.7 %  -4.3 %
Sales

Hair Restoration Same-Store    -0.3 %   -1.3  %  -0.8 %  5.1  %   5.3  %  5.2  %
Sales

Consolidated Same-Store Sales  -2.5 %   -5.1  %  -3.1 %  2.2  %   -0.8 %  1.5  %

International same-store sales for the year represent the 52-week period ended June 27, 2009 versus the 52-week period ended June 28, 2008.

Regis Corporation will announce fourth quarter 2009 earnings results on August 20, 2009. A conference call discussing fourth quarter results will follow at 10:00 a.m., Central time. Interested parties are invited to listen by logging on to Regis' website.

Regis Corporation has filed a registration statement (including a preliminary prospectus) with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the preliminary prospectus in that registration statement and other documents Regis Corporation has filed with the SEC for more complete information about Regis Corporation and the offering. You may get these documents for free by visiting EDGAR on the SEC's website at http://www.sec.gov. Alternatively, copies may be obtained from Merrill Lynch & Co., Attn: Prospectus Department, 4 World Financial Center, New York, NY 10080, (866) 500-5408 or Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue, New York, NY 10010, (800) 221-1037.

About Regis Corporation

Regis Corporation (NYSE: RGS) is the beauty industry's global leader in beauty salons, hair restoration centers and cosmetology education. As of March 31, 2009, the Company owned, franchised or held ownership interests in over 12,800 worldwide locations. Regis' corporate and franchised locations operate under concepts such as Supercuts, Sassoon Salon, Regis Salons, MasterCuts, SmartStyle, Cost Cutters, Cool Cuts 4 Kids and Hair Club for Men and Women. In addition, Regis maintains an ownership interest in Provalliance, which operates salons primarily in Europe, under the brands of Jean Louis David, Franck Provost and Saint Algue. Regis also maintains ownership interests in Empire Education Group and the MY Style concepts in Japan. System-wide, these and other concepts are located in the U.S. and in over 30 other countries in North America, South America, Europe, Africa and Asia. Regis also maintains a 49 percent ownership interest in Intelligent Nutrients, a business that provides a wide variety of certified organic products for health and beauty. For additional information about the company, including a reconciliation of non-GAAP financial information and certain supplemental financial information, please visit the Investor Information section of Regis' website.

This press release contains "forward-looking statements" within the meaning of the federal securities laws, including statements concerning anticipated future events and expectations that are not historical facts. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this document reflect management's best judgment at the time they are made, but all such statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed in or implied by the statements herein. Such forward-looking statements are often identified herein by use of words including, but not limited to, "may," "believe," "project," "forecast," "expect," "estimate," "anticipate" and "plan." In addition, the following factors could affect the Company's actual results and cause such results to differ materially from those expressed in forward-looking statements. These factors include competition within the personal hair care industry, which remains strong, both domestically and internationally; price sensitivity; changes in economic conditions; changes in consumer tastes and fashion trends; the ability of the Company to implement its planned spending and cost reduction plan and to continue to maintain compliance with the financial covenants in its credit agreements; labor and benefit costs; legal claims; risk inherent to international development (including currency fluctuations); the continued ability of the Company and its franchisees to obtain suitable locations for new salon development; governmental initiatives such as minimum wage rates, taxes and possible franchise legislation; the ability of the Company to successfully identify, acquire and integrate salons that support its growth objectives; the ability of the Company to maintain satisfactory relationships with suppliers; the ability of the Company to consummate the planned closure of salons and the related realization of the anticipated costs, benefits and time frame; or other factors not listed above. The ability of the Company to meet its expected revenue target is dependent on salon acquisitions, new salon construction and same-store sales increases, all of which are affected by many of the aforementioned risks. Additional information concerning potential factors that could affect future financial results is set forth in the Company's Annual Report on Form 10-K for the year ended June 30, 2008. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. However, your attention is directed to any further disclosures made in our subsequent annual and periodic reports filed or furnished with the SEC on Forms 10-K, 10-Q and 8-K and Proxy Statements on Schedule 14A.

    Source: Regis Corporation

MINNEAPOLIS--(BUSINESS WIRE)-- Regis Corporation (NYSE: RGS), the global leader in the $170 billion hair care industry, today announced a public offering of common stock and convertible senior notes.

Regis Corporation intends to offer (subject to market and other conditions) approximately 11,500,000 shares of common stock in an underwritten public offering. In connection with this offering, Regis Corporation intends to grant the underwriters an option to purchase up to an additional 1,725,000 shares of common stock.

Regis Corporation also intends to offer concurrently (subject to market and other conditions) $125 million aggregate principal amount of convertible senior notes due 2014 in an underwritten registered public offering. Regis Corporation intends to grant the underwriters an option to purchase up to an additional $18.75 million in aggregate principal amount of convertible senior notes. The convertible senior notes will be convertible at the option of holders, under certain circumstances, into cash, shares of Regis Corporation common stock, or a combination of cash and shares, at the option of Regis Corporation. The offering price, interest rate, conversion price and other terms of the convertible senior notes will be determined by Regis Corporation and the underwriters.

The closing of the convertible notes offering and underwritten offering of common stock will not be contingent on each other.

Regis Corporation intends to use the proceeds to repay $267 million of private placement debt of varying maturities. The remaining proceeds will be used for general corporate purposes including the repayment of bank debt.

Merrill Lynch & Co. and Credit Suisse Securities (USA) LLC are acting as the lead underwriters for the convertible notes offering and the common stock offering.

Regis Corporation has filed a registration statement (including a preliminary prospectus) with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the preliminary prospectus in that registration statement and other documents Regis Corporation has filed with the SEC for more complete information about Regis Corporation and the offering. You may get these documents for free by visiting EDGAR on the SEC's website at http://www.sec.gov. Alternatively, copies may be obtained from Merrill Lynch & Co., Attn: Prospectus Department, 4 World Financial Center, New York, NY 10080, (866) 500-5408 or Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue, New York, NY 10010, (800) 221-1037.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or country in which such offer, solicitation or sale would be unlawful.

    Source: Regis Corporation

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    Source: PennyStockChaser.com