Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Nuverra Environmental Soultions, Inc.

NEW YORK--(BUSINESS WIRE)-- Robbins Geller Rudman & Dowd LLP ("Robbins Geller") (http://www.rgrdlaw.com/cases/nuverra/) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Nuverra Environmental Soultions, Inc. ("Nuverra" ) (NYS: NES) common stock during the period between March 12, 2013 and August 23, 2013 (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/nuverra/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Nuverra and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Nuverra provides full-cycle environmental cleanup services to customers in energy and industrial end-markets in the United States. It focuses on the delivery, collection, treatment, recycling, and disposal of restricted solids, water, waste water, used motor oil, spent antifreeze, waste fluids, and hydrocarbons through its two operating segments: Shale Solutions and Industrial Solutions.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's financial performance and future prospects. As a result of defendants' false statements, Nuverra shares traded at artificially inflated prices during the Class Period.

On July 30, 2013, the Company issued a press release announcing its "preliminary" second quarter 2013 financial results for the quarter ended June 30, 2013. Rather than the EBITDA of $46.7 million on revenues of $186.4 million that Nuverra had led the investment community to expect, Nuverra stated EBITDA would only be in the range of $32.8 to $33.6 million on $165.5 million in revenues. According to Nuverra: (i) weakness in the used oil market drew down revenues and profits in the Company's Industrial Solutions segment; (ii) snow and rain hampered performance in the Company's Shale Solutions segment; (iii) the Company was experiencing unspecified operational issues in its Eagle Ford area; and (iv) heavy demand in its Marcellus and Utica shale areas forced the Company to hire subcontractors, which lowered overall margins. On this news, the price of Nuverra common stock, which had traded as high as $4.42 per share in intraday trading during the Class Period, fell more than 30% to close at $3.04 per share on July 30, 2013.

Then on August 8, 2013, Nuverra announced its actual second quarter 2013 earnings results, disclosing an adjusted earnings per share loss of $0.05 per share, rather than the loss of $0.03 per share Nuverra had led the investment community to expect. Finally, on August 23, 2013, after the close of trading, stock blog Seeking Alpha.com published a research report that disclosed, among other things, specifics concerning the Power Fuels acquisition and discussed how that acquisition was weighing the Company's financial performance down. On this news, the price of Nuverra common stock declined another 11.76%, closing at $2.40 per share on August 26, 2013.

Plaintiff seeks to recover damages on behalf of all purchasers of Nuverra common stock during the Class Period (the "Class"). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Robbins Geller represents U.S. and international institutional investors in contingency-based securities and corporate litigation. With nearly 200 lawyers in nine offices, the firm represents hundreds of public and multi-employer pension funds with combined assets under management in excess of $2 trillion. The firm has obtained many of the largest recoveries and has been ranked number one in the number of shareholder class action recoveries in MSCI's Top SCAS 50 every year since 2003. Please visit http://www.rgrdlaw.com for more information.

Robbins Geller Rudman & Dowd LLP
Samuel H. Rudman, 800-449-4900
David A. Rosenfeld
djr@rgrdlaw.com

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

ABM Industries Announces 2013 Third Quarter Financial Results

Acquisitions and Organic Growth Increase Revenue by 13%

Reported EPS $0.29; Adjusted EPS $0.41, up 11%

Guidance for FY13 Adjusted EPS $1.45 - $1.50; Higher-End of Range

Declares 190 ^th Consecutive Quarterly Dividend

NEW YORK--(BUSINESS WIRE)-- ABM (NYSE: ABM), a leading provider of integrated facility solutions, today announced financial results for the fiscal 2013 third quarter that ended July 31, 2013.

(This release refers to non-GAAP financial measures described as "Adjusted EBITDA", "Adjusted income from continuing operations", and "Adjusted income from continuing operations per diluted share" (or "Adjusted EPS"). Refer to the accompanying financial schedules for supplemental financial data and corresponding reconciliation of these non-GAAP financial measures to certain GAAP financial measures.)

Executive Summary:

• Revenues were $1.2 billion in the third quarter of fiscal 2013, up almost 13% compared to $1.08 billion last year, due to $105.7 million in contributions from recent acquisitions and $31.9 million in organic growth or 3.0%.
• Janitorial, Facility Services, and Security segments achieved organic growth of 3.2%, 6.3%, and 5.0%, respectively, from new business and increased scope of work with existing clients.
• Adjusted income from continuing operations for the fiscal 2013 third quarter was $0.41 per diluted share, up 10.8%, compared to $0.37 per diluted share in the prior year.
• Adjusted EBITDA increased 14.9% to $57.2 million as a result of contributions from recent acquisitions and new business.
• Net cash from operations was $84.3 million for the first nine months of fiscal 2013, compared to net cash from operations of $83.8 million for the same period last year.
• Outstanding borrowings under the Company's credit facility decreased by $36 million in the third quarter to $348 million.

Third Quarter Results and Recent Events

"We are very pleased with our third quarter financial results as underlying business trends continue to strengthen," said ABM's president and chief executive officer Henrik Slipsager. "The momentum across our businesses grew throughout the quarter and we achieved a 12.8% increase in revenue due to our recent acquisitions and strong organic growth in our Janitorial, Facility Services and Security segments. Janitorial sales increased 3.2%, representing our largest quarterly organic sales improvement in 5 years and reflecting new significant business wins. We're also encouraged by progress in our Building & Energy Solutions segment, where sales increased 21.6% due to acquisitions and new commercial service and maintenance contracts, which included bundled energy solutions jobs. Operating profits were up 82.5% for Building & Energy Solutions as we are beginning to benefit from our investments in our healthcare vertical and energy business as well as effective cost control. We continue to expand our pipeline of new sales in a number of key verticals and we are further developing our capabilities in a number of areas to drive long-term growth."

Slipsager continued, "Adjusted income from continuing operations in the third quarter increased $2.8 million, or approximately 14%, as the benefits from acquisitions, new sales and expense management were partially offset by higher initial costs associated with new contracts in our Janitorial and Air Serv businesses.

"On a reported basis, we achieved a 27.8% increase in net income, primarily due to contributions from recent acquisitions and new business. Based on the results of an independent external actuarial evaluation conducted in the quarter, we increased insurance reserves related to claims from prior years by $9.9 million ($6.0 million after-tax), compared to the $9.5 million ($5.6 million after-tax) increase in the third quarter of fiscal 2012."

Interest expense for the third quarter of fiscal 2013 was $3.3 million, an increase from $2.4 million in the third quarter of 2012 due to higher average borrowings on the Company's credit facility to fund acquisitions made in early fiscal 2013.

James Lusk, executive vice president and chief financial officer, added, "We continue to deliver strong free cash flow and to return value to our shareholders through the payment of a quarterly cash dividend. During the third quarter, we reduced our debt levels by $36 million, ending the quarter with $348 million in borrowings under our credit facility."

The effective tax rate for the third quarter of fiscal 2013 was 40.4%, compared to 41.3% in the same period last year.

Slipsager concluded, "The combination of strong revenue momentum, anticipated margin improvement and good progress on the integration of our acquisitions gives us confidence in our earnings outlook for the remainder of the fiscal year. We remain highly encouraged by our business and expect to see continued earnings growth as recent client wins ramp up fully in the fourth quarter and operating leverage improves as we benefit from the ongoing cost initiatives within the Onsite businesses. We remain pleased with the pace of integration from businesses acquired earlier in fiscal 2013, and sales contributions from these acquisitions continue to exceed our expectations. Our reorganization efforts remain on track and we believe we are well positioned to capitalize on the substantial market opportunities before us and to continue improving our long-term growth prospects."

Nine Months Results

The Company reported revenues for the nine months ended July 31, 2013 of $3.57 billion, which represents an 11.3% increase compared to year-ago revenues of $3.21 billion. The growth was driven by a combination of revenue from recent acquisitions and organic growth of 1.7% in the first nine months of fiscal 2013.

Income from continuing operations for the first nine months of fiscal year 2013 was $48.7 million, or $0.87 per diluted share, compared to $35.0 million, or $0.64 per diluted share, for the first nine months of fiscal year 2012.

Adjusted income from continuing operations for the first nine months of fiscal year 2013 was $58.0 million, or $1.04 per diluted share, compared to $48.4 million, or $0.88 per diluted share, for the first nine months of fiscal year 2012. The increase of $9.6 million is primarily the result of higher revenue from acquisitions and organic growth, lower payroll and payroll related expenses as a result of one less working day, and an improvement in operating margins due to continued expense control, partially offset by higher interest expense.

Dividend

The Company also announced that the Board of Directors has declared a fourth quarter cash dividend of $0.15 per common share payable on November 4, 2013 to stockholders of record on October 3, 2013. This will be ABM's 190^th consecutive quarterly cash dividend.

Guidance

Based on ABM's strong year-to-date performance and outlook for the remainder of the year, the Company is narrowing its guidance for fiscal year 2013 to the high end of the previously issued guidance range. The Company now anticipates income from continuing operations of $1.26 to $1.31 per diluted share and adjusted income from continuing operations of $1.45 to $1.50 per diluted share.

Earnings Webcast

On Wednesday, September 4, at 9:00 a.m. ET, ABM will host a live webcast of remarks by president and chief executive officer Henrik Slipsager, executive vice president and chief financial officer James Lusk, executive vice president Jim McClure, and executive vice president Tracy Price. A supplemental presentation will accompany the webcast and will be accessible through the Investor Relations portion of ABM's website by clicking on the "Presentations" tab.

The webcast will be accessible at: http://investor.abm.com/eventdetail.cfm?eventid=133592

Listeners are asked to be online at least 15 minutes early to register, as well as to download and install any complimentary audio software that might be required. Following the call, the webcast will be available at this URL for a period of 90 days.

In addition to the webcast, a limited number of toll-free telephone lines will also be available for listeners who are among the first to call (877) 664-7395 within 15 minutes before the event. Telephonic replays will be accessible during the period from two hours to seven days after the call by dialing (855) 859-2056 and then entering ID #32550158.

Earnings Webcast Presentation

In connection with the webcast to discuss earnings (see above), a slide presentation related to earnings and operations will be available on the Company's website at www.abm.com and can be accessed through the Investor Relations section of ABM's website by clicking on the "Presentations" tab.

ABOUT ABM

ABM (NYSE: ABM) is a leading provider of facility solutions with revenues exceeding $4 billion and 100,000 employees in over 350 offices deployed throughout the United States and various international locations. ABM's comprehensive capabilities include facilities engineering, commercial cleaning, energy solutions, HVAC, electrical, landscaping, parking and security, provided through stand-alone or integrated solutions. ABM provides custom facility solutions in urban, suburban and rural areas to properties of all sizes — from schools and hospitals to the largest and most complex facilities, such as manufacturing plants and major airports. ABM Industries Incorporated, which operates through its subsidiaries, was founded in 1909. For more information, visit www.abm.com.

Cautionary Statement under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements that set forth management's anticipated results based on management's current plans and assumptions. Any number of factors could cause the Company's actual results to differ materially from those anticipated. These factors include but are not limited to the following: (1) risks relating to our acquisition strategy may adversely impact our results of operations; (2) our strategy of moving to an integrated facility solutions provider platform, which focuses on vertical market strategy, may not generate the growth in revenues or profitability that we expect; (3) we are subject to intense competition that can constrain our ability to gain business, as well as our profitability; (4) increases in costs that we cannot pass on to clients could affect our profitability; (5) we have high deductibles for certain insurable risks, and therefore we are subject to volatility associated with those risks; (6) we primarily provide our services pursuant to agreements that are cancelable by either party upon 30 to 90 days' notice; (7) our success depends on our ability to preserve our long-term relationships with clients; (8) we are at risk of losses and adverse publicity stemming from any accident or other incident involving our airport operations; (9) our international business exposes us to additional risks; (10) we conduct some of our operations through joint ventures, and our ability to do business may be affected by the failure of our joint venture partners to perform their obligations or the improper conduct of joint venture employees, partners, or agents; (11) significant delays or reductions in appropriations for our government contracts may negatively affect our business and could have an adverse effect on our financial position, results of operations, or cash flows; (12) we are subject to a number of procurement rules and regulations relating to our business with the U.S. Government and if we fail to comply with those rules, our business and our reputation could be adversely affected; (13) negative or unexpected tax consequences could adversely affect our results of operations; (14) we are subject to business continuity risks associated with centralization of certain administrative functions; (15) a decline in commercial office building occupancy and rental rates could affect our revenues and profitability; (16) deterioration in economic conditions in general could reduce the demand for facility services and, as a result,reduce our earnings and adversely affect our financial condition; (17) a variety of factors could adversely affect the results of operations of our building and energy services business; (18) financial difficulties or bankruptcy of one or more of our major clients could adversely affect ourresults; (19) our ability to operate and pay ourdebt obligations depends upon our access to cash; (20) future declines in the fair value of our investments in auction rate securities could negatively impact our earnings; (21) uncertainty in the credit markets may negatively impact our costs of borrowing, our ability to collect receivables on a timely basis, and our cash flow; (22) we incur accounting and other control costs that reduce profitability; (23) sequestration under the Budget Control Act of 2011 or alternative measures that may be adopted in lieu of sequestration may negatively impact our business; (24) any future increase in our level of debt or in interest rates could affect our results of operations; (25) an impairment charge could have a material adverse effect on our financial condition and results of operations; (26) we are defendants in class and representative actions and other lawsuits alleging various claims that could cause us to incur substantial liabilities; (27) federal health care reform legislation may adversely affect our business and results of operations; (28) changes in immigration laws or enforcement actions or investigations under such laws could significantly adversely affect our labor force, operations, and financial results; (29) labor disputes could lead to loss of revenues or expense variations; (30) we participate in multi-employer pension plans which, under certain circumstances, could result in material liabilities being incurred; and (31) natural disasters or acts of terrorism could disrupt services.

Additional information regarding these and other risks and uncertainties the Company faces is contained in the Company's Annual Report on Form 10-K for the year ended October 31, 2012 and in other reports the Company files from time to time with the Securities and Exchange Commission. The Company urges readers to consider these risks and uncertainties in evaluating its forward-looking statements. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statement is based.

Use of Non-GAAP Financial Information

To supplement ABM's consolidated financial information, the Company has presented income from continuing operations, as adjusted for items impacting comparability, for the third quarter and nine months of fiscal years 2013 and 2012. These adjustments have been made with the intent of providing financial measures that give management and investors a better understanding of the underlying operational results and trends as well as ABM's marketplace performance. In addition, the Company has presented earnings before interest, taxes, depreciation and amortization and excluding discontinued operations and items impacting comparability (adjusted EBITDA) for the third quarter and nine months of fiscal years 2013 and 2012. Adjusted EBITDA is among the indicators management uses as a basis for planning and forecasting future periods. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial statements prepared in accordance with accounting principles generally accepted in the United States of America. (See accompanying financial tables for supplemental financial data and corresponding reconciliations to certain GAAP financial measures.)

Bard to Host Conference Call on September 4, 2013

MURRAY HILL, N.J.--(BUSINESS WIRE)-- C. R. Bard, Inc. (NYS: BCR) today announced that it will host a conference call on Wednesday, September 4, 2013 at 8:30 AM EDT, to discuss recent business development activity.

A live audio webcast of Bard's investor conference call will be accessible to all investors through Bard's website at http://investorrelations.crbard.com.

The recommended browser is Internet Explorer 7+. Users also should have the most recent version of Windows Media Player™, which can be downloaded at:
http://microsoft.com/windows/windowsmedia/en/download/. Users may experience varying levels of performance based on their connection speed, system capabilities and the presence of a system firewall.

C. R. Bard, Inc. ( www.crbard.com ), headquartered in Murray Hill, NJ, is a leading multinational developer, manufacturer and marketer of innovative, life-enhancing medical technologies in the fields of vascular, urology, oncology and surgical specialty products.

C. R. Bard, Inc.
Investor Relations:
Todd W. Garner, 908-277-8065
Vice President, Investor Relations
or
Media Relations:
Scott T. Lowry, 908-277-8365
Vice President and Treasurer

KEYWORDS:   United States  North America  New Jersey

INDUSTRY KEYWORDS:

PAA NATURAL GAS STORAGE INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates PAA Natural Gas Storage, L.P. Following Announcement of Proposed Buyout of Company by Plains All American Pipeline, L.P.

NEW ORLEANS--(BUSINESS WIRE)-- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") announce that KSF has commenced an investigation into the Board of Directors of PAA Natural Gas Storage, L.P. ("PNG" or the "Company") (NYS: PNG) in connection with their conduct related to the proposed buyout of the Company by Plains All American Pipeline, L.P. (NYS: PAA) . Under the terms of the proposed transaction, shareholders of PNG would receive 0.435 common units of Plains All American Pipeline, L.P. for each share of PNG common stock that they own.

KSF's investigation is focusing on the Board's process for considering the proposed transaction; whether PNG and/or its officers and directors are working in shareholders' best interests; and whether the proposed consideration is adequate, fair, and consistent with the fair or inherent value of PNG.

If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) or attorney Michael Palestina (michael.palestina@ksfcounsel.com) toll free at 855-768-1857 or via cell phone any time at 504-236-7315.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on transactional litigation, as well as securities class action and shareholder derivative litigation. With offices in New York and Louisiana, KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders.

To learn more about KSF, you may visit www.ksfcounsel.com.

Kahn Swick & Foti, LLC
Michael Palestina, Esq., 855-768-1857
or after hours via cell phone 504-236-7315
michael.palestina@ksfcounsel.com

KEYWORDS:   United States  North America  Louisiana

INDUSTRY KEYWORDS:

Tortoise Energy Independence Fund, Inc. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of Aug. 31, 2013

LEAWOOD, Kan.--(BUSINESS WIRE)-- Tortoise Energy Independence Fund, Inc. (NYS: NDP) today announced that as of Aug. 31, 2013, the company's unaudited total assets were approximately $431.9 million and its unaudited net asset value was $374.9 million, or $25.82 per share.

As of Aug. 31, 2013, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act). The company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 875 percent. For more information on calculation of coverage ratios, please refer to the company's most recent applicable prospectus.

Set forth below is a summary of the company's unaudited balance sheet at Aug. 31, 2013 and a summary of its top 10 holdings.

⁽¹⁾ Percent of Investments and Cash Equivalents

About Tortoise Energy Independence Fund, Inc.

Tortoise Energy Independence Fund, Inc. (NYS: NDP) is a non-diversified, closed-end management investment company that seeks to obtain a high level of total return with an emphasis on current distributions. NDP invests primarily in North American energy companies that engage in the exploration and production of crude oil, condensate, natural gas and natural gas liquids.

About Tortoise Capital Advisors, L.L.C.

Tortoise Capital Advisors, L.L.C. is an investment manager specializing in listed energy investments. As of July 31, 2013, the adviser had approximately $13.1 billion of assets under management in NYSE-listed closed-end investment companies, open-end funds and other accounts. For more information, visit www.tortoiseadvisors.com.

Safe Harbor Statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Forward-Looking Statement

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the Fund and Tortoise Capital Advisors believe the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Fund's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the Fund and Tortoise Capital Advisors do not assume a duty to update any forward-looking statement.

Tortoise Capital Advisors, L.L.C.
Pam Kearney, 866-362-9331
Investor Relations
pkearney@tortoiseadvisors.com

KEYWORDS:   United States  North America  Kansas

INDUSTRY KEYWORDS:

SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Hi-Tech Pharmacal Co.

BALA CYNWYD, Pa.--(BUSINESS WIRE)-- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Hi-Tech Pharmacal Co. ("Hi-Tech" or the "Company") (NAS: HITK) relating to the proposed acquisition by Akorn, Inc. ("Akorn").

Click here to learn more about the investigation http://brodsky-smith.com/632-hitk-hi-tech-pharmacal-co.html, or call: 877-534-2590. There is no cost or obligation to you.

Under the terms of the transaction, Hi-Tech shareholders will receive only $43.50 in cash for each share of Hi-Tech stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Hi-Tech for not acting in the Company's shareholders' best interests in connection with the sale process. The transaction may undervalue the Company as after the acquisition of Hi-Tech is completed Akorn will become the third-largest drug company focused on ophthalmic treatments. In addition, the transaction will provide Akorn with an expanded line of over-the-counter sinus products and will result in an estimated cost savings of $15 million annually.

If you own shares of Hi-Tech common stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, by visiting http://brodsky-smith.com/632-hitk-hi-tech-pharmacal-co.html, or calling toll free 877-LEGAL-90.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

Brodsky & Smith, LLC
Jason L. Brodsky, Esquire
Evan J. Smith, Esquire
877-LEGAL-90
investorrelations@brodsky-smith.com
http://brodsky-smith.com/632-hitk-hi-tech-pharmacal-co.html

KEYWORDS:   United States  North America  Pennsylvania

INDUSTRY KEYWORDS:

Samson Oil & Gas Operational Advisory

DENVER & PERTH, Australia--(BUSINESS WIRE)-- Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):

NORTH STOCKYARD PROJECT, WILLIAMS COUNTY, NORTH DAKOTA

Tooheys 4-15-14HBK and Coopers 2-15-14HBK wells (SSN WI 27.76%)

The curve portion of the Tooheys 4-15-14HBK well was drilled and landed in the top of the Middle Bakken Formation at a depth of 11,695 feet. The rig is currently running 7 inch casing into the hole. Once the rig is finished running the casing, the 7 inch will be cemented in place. The rig will then skid over to drill the 8 ¾ inch intermediate portion of the Coopers 2-15-14HBK well as a time saving measure, to capitalize on operating efficiencies of rig skidding capabilities. The Coopers well will be drilled to a total measured depth of 17,827 feet and subsequently the rig will skid back to the Tooheys well to finish the lateral portion of the well.

Sail and Anchor 1-13-14HBK well

Fracture stimulation of the Sail and Anchor well is currently anticipated to commence September 5^th.

ROOSEVELT PROJECT, ROOSEVELT COUNTY, MONTANA

As previously advised, Samson amended the Asset Purchase and Sale Agreement which provided for the sale of the Company's Roosevelt County project for $13.533 million to allow the buyer to close by August 31^st, after the buyer provided evidence of the availability of funds to complete the purchase. The buyer nevertheless failed to close by the extended closing date. Accordingly, Samson has terminated the agreement and is exploring other alternatives for the property.

As previously reported, Samson still expects to realize substantial value from this contiguous 45,000 acre project (of which Samson owns 30,000 acres), through a joint development project, sale or other means.

About Samson Oil & Gas Limited

Samson's Ordinary Shares are traded on the Australian Securities Exchange under the symbol "SSN". Samson's American Depository Shares (ADSs) are traded on the New York Stock Exchange MKT under the symbol "SSN". Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 2,490 million ordinary shares issued and outstanding (including 97,307,525 million options exercisable at AUD 3.8 cents), which would be the equivalent of 124.5 million ADSs. Accordingly, based on the NYSE MKT closing price of US$0.46 per ADS on September 3rd, 2013 the Company has a current market capitalization of approximately US$58.32 million (the options have been valued at an exchange rate of 0.9033). Correspondingly, based on the ASX closing price of A$0.024 for ordinary shares and an closing price of A$0.012 for the 2017 options, on September 3rd, 2013, the Company has a current market capitalization of approximately A$60.92 million.

SAMSON OIL & GAS LIMITED

TERRY BARR
Managing Director

Statements made in this press release that are not historical facts may be forward-looking statements, including but not limited to statements using words like "may", "believe", "expect", "anticipate", "should" or "will."

Actual results may differ materially from those projected in any forward-looking statement. There are a number of important factors that could cause actual results to differ materially from those anticipated or estimated by any forward-looking information, including uncertainties inherent in estimating the methods, timing and results of oil and gas exploration activities. A description of the risks and uncertainties that are generally attendant to Samson and its industry, as well as other factors that could affect Samson's financial results, are included in the prospectus and prospectus supplement for its recent Rights Offering as well as the Company's report to the U.S. Securities and Exchange Commission on Form 10-K, which are available at www.sec.gov/edgar/searchedgar/webusers.htm.

Samson Oil & Gas Limited
Terry Barr, CEO, 303-296-3994 (US office)
US cell: 970-389-5047

KEYWORDS:   Australia  United States  North America  Australia/Oceania  Colorado

INDUSTRY KEYWORDS:

U.S. Unconventional Oil and Gas Revolution to Increase Disposable Income by More than $2,700 per Household and Boost U.S. Trade Position by More than $164 billion in 2020, New IHS Study Says

More than 3.3 million jobs will be supported in 2020 as the unconventional oil and gas revolution boosts industry competitiveness and manufacturing growth

WASHINGTON--(BUSINESS WIRE)-- The economic and employment contributions from U.S. unconventional oil and gas production are now being felt throughout the U.S. economy, increasing household incomes, boosting trade and contributing to a new increase in U.S. competitiveness in the world economy, a new study by IHS finds.

Unconventional oil and gas activity increased disposable income by an average of $1,200 per U.S. household in 2012 as savings from lower energy costs were passed along to consumers in the form of lower energy bills as well as lower costs for all other goods and services. That figure is expected to grow to just over $2,000 in 2015 and reach more than $3,500 in 2025, the study says.

U.S. trade position will continue to improve, owing to the significant reduction in energy imports and the increased global competiveness of U.S.-based energy-intensive industries, the study says. Driven by a rise in domestic production and manufacturing that will displace imports, as well as a favorable export position for these industries, the trade deficit will be reduced by more than $164 billion in 2020—equivalent to one-third of the current U.S. trade deficit.

The new study, entitled America's New Energy Future: The Unconventional Oil and Gas Revolution and the Economy - Volume 3: A Manufacturing Renaissance, builds on previous IHS research on the economic contributions of unconventional oil and gas activity. The previous studies focused solely on upstream unconventional activity and found that that sector of the energy value chain currently supports more than 1.7 million jobs and will grow to nearly 3 million by the end of the decade.

The new study widens the breadth of the research to include the full energy value chain (upstream, midstream and downstream energy and energy-related chemicals) and the overall macroeconomic contributions on the manufacturing sector and broader U.S. economy. Midstream and downstream unconventional energy and energy-related chemicals activity currently support nearly 377,000 jobs throughout the economy, the study finds. Combined with upstream activity, the entire unconventional oil and gas value chain currently supports more than 2.1 million jobs. Total jobs supported by this value chain will rise to more than 3.3 million in 2020 and reach nearly 3.9 million by 2025, the study says.

"The unconventional oil and gas revolution is not only an energy story, it is also a very big economic story that flows throughout the U.S. economy in a way that is only now becoming apparent," said Daniel Yergin, IHS Vice Chairman and author of The Quest: Energy, Security and the Remaking of the Modern World. "In addition to significant job and economic impacts from energy production and its extensive supply chains, the growth of long-term, low-cost energy supplies is benefiting households and helping to revitalize U.S. manufacturing, creating a competitive advantage for U.S. industry and for the United States itself."

Energy-related chemicals and other energy-intensive industries such as petroleum refining, aluminum, glass, cement, and the food industry are some of the primary beneficiaries from secure supplies of low-cost energy from unconventional production, the study says. More than 70 percent of the cash cost of producing energy-related chemicals— which include major commodity petrochemicals such as olefins, methanol and ammonia—is the cost of raw materials and energy feedstocks.

The chemical manufacturing industry accounted for 13 percent of all U.S. merchandise exports ($198 billion) in 2012—compared to $152 billion in 2007. This trend is expected to continue as energy-intensive industries benefit from lower energy prices, lower electricity prices and increased demand for their products as growth in investment spurs domestic consumption, the study says.

In addition to measuring jobs supported by the full unconventional value chain, the study also quantifies the additional manufacturing jobs attributed to the broader macroeconomic contributions that begin with unconventional oil and natural gas. More than 460,000 combined manufacturing jobs (3.7 percent of all manufacturing jobs) will be supported in 2020, rising to nearly 515,000 (4.2 percent of total manufacturing jobs) in 2025. The manufacturing sector will become increasingly connected to unconventional development as a primary source to create and sustain jobs over the course of the study period. Manufacturing jobs will represent one out of every eight jobs supported by unconventional oil and gas development during that time, the study says.

"This study illustrates the extended contributions of the unconventional revolution to the U.S. economy as energy intensive industries move to capitalize on this newfound abundance and the contribution to overall competitiveness that it brings," said John Larson, Vice President, IHS Economics. "It puts the unconventional revolution in context as an important, but little understood pocketbook issue for all Americans."

Other Key Findings

• The entire unconventional oil and gas value chain and energy-related chemicals will contribute $284 billion in value-added contributions to GDP in 2012, a figure that will increase to nearly $533 billion annually in 2025.
• The full value chain of industrial activity and employment associated with unconventional oil and natural gas contributed more than $74 billion in federal and state government revenues in 2012. Tax receipts will rise to more than $125 billion annually by 2020 and reach $138 billion by 2025.
• Workers' earnings from all unconventional energy and chemicals activity were nearly $150 billion in 2012. This total will rise to $207 billion in 2015 and will be nearly $269 billion in 2025.
• Industrial production increases directly resulting from lower feedstock prices and energy costs associated with the full value chain of unconventional activity will be $258 billion (3.5 percent increase) by 2020 and rise to $328 billion (3.9 percent increase) in 2025.
• Between 2012 and 2025, IHS projects a cumulative investment of nearly $346 billion across the midstream and downstream energy and energy-related chemicals value chains. Close to $216 million of this will come in the midstream and downstream segments of the unconventional value chain, including 47,000 miles of new or modified pipeline infrastructure.
• More than $31 billion in new capital investments will drive the addition of more than 16 million tons of chemical capacity by 2016. Cumulative investment will grow to more than $129 billion to support nearly 89 million tons of capacity by 2025.
• Employment contributions from the midstream and downstream sector are at their greatest in the near term (currently supporting nearly 324,000 jobs), as expansions and other capital expenditures are made to increase capacity connecting the resource base with broader end-users.
• Energy-related chemicals (currently supporting more than 53,000 jobs) will support a growing number of jobs in the long term. By the end of the decade, energy-related chemicals will support more than 277,000 jobs—a fivefold increase—and rise to nearly 319,000 by 2025.

America's New Energy Future also includes a Low Production Case which measures the potential loss of economic contributions from a more restrictive regulatory environment than currently exists today. The results of this Low Production Case include:

• 1.4 million less jobs supported by 2015 than otherwise expected. Nearly 2.8 million less by 2025.
• $127 billion less in value-added contributions to U.S. GDP in 2015 and $300 billion less by 2025.
• $29 billion less in federal and state revenues in 2015. The loss would grow to $72 billion by 2025. The cumulative loss for federal and state revenues over the entire 2012-2025 study period would be nearly $535 billion.
• The benefit to U.S. trade position would be reduced to $94 billion -- 57 percent of what is currently expected.
• On average, disposable income per household would be $1,730 less per year than is otherwise expected.

"The availability of a long-term supply of low-cost feedstock derived from unconventional resources is revitalizing the petrochemical industry in North America," said Mark Wegenka, Managing Director, Chemical Consulting at IHS, and a contributing author of the study. "Prior to the recent expansion of unconventional gas, the outlook for the industry was bleak—it was suffering from significant plant shut-downs and capacity reductions. However, as a result of these unconventional oil and gas supplies, we've witnessed a complete turnaround. The industry is not only competitiveagain, but it is attracting significant domestic and foreign investment and adding capacity that is resulting in more high-quality U.S. jobs that pay well."

About The Report

America's New Energy Future: The Unconventional Oil and Gas Revolution and the U.S. Economy is a three-volume series based on IHS analyses of each play, which calculates the investment of capital, labor and other inputs required to produce these hydrocarbons. The economic contributions of these investments are then calculated using the proprietary IHS economic contribution assessment and macroeconomic models to generate the contributions to employment, GDP growth, labor income and tax revenues that will result from the higher level of unconventional oil and natural gas development. This research was supported by the American Chemistry Council, America's Natural Gas Alliance, the American Petroleum Institute, the Fertilizer Institute, the U.S. Chamber of Commerce - Institute for 21^st Century Energy, the National Association of Manufacturers, the Natural Gas Supply Association, Rio Tinto and the Society of the Plastics Industry. IHS is exclusively responsible for all of the analysis and content.

Note: The "full value chain" refers to the entire range of economic activity that begins with the development of oil and gas production (upstream), flows into the transportation of these resources (midstream), and then into their transformation into products (downstream) and then into industrial uses, such as the production of petrochemicals.

Download the complete report and methodology : America's New Energy Future: The Unconventional Oil and Gas Revolution and the Economy - Volume 3: A Manufacturing Renaissance.

About IHS ( www.ihs.com )

IHS (NYS: IHS) is the leading source of information, insight and analytics in critical areas that shape today's business landscape. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS is committed to sustainable, profitable growth and employs approximately 8,000 people in 31 countries around the world.

IHS is a registered trademark of IHS Inc. All other company and product names may be trademarks of their respective owners. Copyright © 2013 IHS Inc. All rights reserved.

IHS, Inc.
Jeff Marn, +1 202-463-8213
Jeff.marn@ihs.com
or
IHS Press Desk
+1 303-305-8021
press@ihs.com

KEYWORDS:   United States  North America  Colorado  District of Columbia

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HDMI Forum Releases Version 2.0 of the HDMI Specification

Increased bandwidth provides the infrastructure for new features that will drive the next generation of consumer entertainment

BERLIN--(BUSINESS WIRE)-- HDMI Forum, Inc., a non-profit, mutual benefit corporation, today announced the release of Version 2.0 of the HDMI Specification. This latest HDMI Specification, the first to be developed by the HDMI Forum, offers a significant increase in bandwidth (up to 18Gbps) to support new features such as 4K@50/60 (2160p), which is 4 times the clarity of 1080p/60 video resolution; 32 audio channels; as well as dynamic auto lip-sync and extensions to CEC. The complete Version 2.0 of the HDMI Specification is available to Adopters on the HDMI Adopter Extranet. HDMI Licensing, LLC will host a press conference to discuss the new features of the HDMI 2.0 Specification at IFA 2013 in Berlin on Friday, September 6 at 12:00pm in the TecWatch Forum area of Hall 11.1.

Version 2.0 of the HDMI Specification, which is backward compatible with earlier versions of the Specification, was developed by the HDMI Forum's Technical Working Group whose members represent some of the world's leading manufacturers of consumer electronics, personal computers, mobile devices, cables and components. The HDMI Forum currently has a membership of 88 companies.

"The introduction of the HDMI 2.0 Specification represents a major milestone for the HDMI Forum," said Robert Blanchard of Sony Corporation, president of the HDMI Forum. "Our members collaborated closely to take the highly successful HDMI Specification to the next level by expanding audio and video features for consumer electronics applications."

The HDMI Forum has chosen HDMI Licensing, LLC to be the Agent to license Version 2.0 of the HDMI Specification. In this role, HDMI Licensing, LLC will provide marketing, promotional, licensing and administrative services, as well as education on the benefits of the HDMI Specification to adopters, retailers, and consumers.

"We are pleased to continue our work in supporting the HDMI Adopter base as well as the entire HDMI ecosystem," said Steve Venuti, president of HDMI Licensing, LLC. "Adopters can now continue to develop new product functionality over the HDMI interface as well as look to HDMI Licensing, LLC as their single contact for all their licensing and administrative needs."

Version 2.0 of the HDMI Specification does not define new cables or new connectors. Current High Speed cables (category 2 cables) are capable of carrying the increased bandwidth.

The HDMI 2.0 Compliance Test Specification (CTS) is expected to be released before the end of 2013.

For more information about Version 2.0 of the HDMI Specification please visit http://www.hdmi.org.

About HDMI Licensing, LLC

HDMI Licensing, LLC is the agent appointed by the HDMI Forum to license Version 2.0 of the HDMI Specification and is the agent appointed by the HDMI Founders to license all earlier HDMI Specifications. The HDMI Specification combines uncompressed high-definition video, multi-channel audio, and data in a single digital interface to provide crystal-clear digital quality over a single cable. HDMI Licensing, LLC provides marketing, promotional, licensing and administrative services, as well as education on the benefits of the HDMI Specification to adopters, retailers, and consumers. HDMI Licensing, LLC is a wholly owned subsidiary of Silicon Image, Inc. (NAS: SIMG) . For more information about the HDMI Specification, please visit www.hdmi.org.

About HDMI Forum, Inc.

The HDMI Forum, Inc. is comprised of the world's leading manufacturers of consumer electronics, personal computers, mobile devices, cables and components. An open trade association, The HDMI Forum's mission is to foster broader industry participation in the development of future versions of the HDMI Specification and to further expand the ecosystem of interoperable, HDMI-enabled products. For more information, please visit www.hdmiforum.org.

HDMI, the HDMI logo, and High-Definition Multimedia Interface are trademarks or registered trademarks of HDMI Licensing, LLC in the United States and/or other countries. All other trademarks and registered trademarks are the property of their respective owners in the United States and/or other countries.

HDMI Licensing, LLC
Gabriele Collier, 408-616-4088
gcollier@hdmi.org

KEYWORDS:   United States  Europe  Asia Pacific  North America  California  Germany

INDUSTRY KEYWORDS:

Kofax Reports Financial Results for Its Fourth Quarter and Fiscal Year Ended June 30, 2013

Results in Line with Company's July 24 Trading Update

IRVINE, Calif.--(BUSINESS WIRE)-- Kofax plc. (ISE: KFX) , a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today reported its unaudited financial results for the fourth quarter and audited financial results for the fiscal year ended June 30, 2013.

Fourth Quarter Financial Highlights:

• Software license revenue increased 2.3% to $38.7 million (Prior Year: $37.8 million) or 3.1% in constant currency (CC)
• Total revenues increased 3.8% to $78.2 million (Prior Year: $75.3 million) or 4.3% in CC
• Income from operations increased 16.6% to $17.7 million (Prior Year: $15.2 million)
• Adjusted income from operations¹ (Adjusted EBITDA) increased 3.1% to $21.8 million (Prior Year: $21.2 million) or a 27.9% margin
• Adjusted diluted EPS² was $0.16 (Prior Year: $0.13)
• Adjusted cash generated from operations was $11.0 million (Prior Year: $8.8 million)
• Quarter end cash increased to $93.4 million (Prior Quarter End: $86.8 million)

Fiscal Year Financial Highlights:

• Software license revenue decreased 4.3% to $112.2 million (Prior Year: $117.3 million) or 3.1% in CC
• Total revenues increased 1.5% to $266.3 million (Prior Year: $262.5 million) or 2.7% in CC
• Income from operations increased 13.5% to $25.1 million (Prior Year: $22.1 million)
• Adjusted income from operations (Adjusted EBITDA) decreased 4.5% to $46.3 million (Prior Year: $48.5 million) or a 17.4% margin
• Adjusted diluted EPS was $0.31 (Prior Year: $0.34)
• Adjusted cash generated from operations was $42.1 million (Prior Year: $34.3 million)
• Year end cash increased to $93.4 million (Prior Year End: $81.1 million)

Fourth Quarter Operating Highlights:

• Launched Kofax Analytics for Capture™, which provides business intelligence and analytics for Kofax Capture™ and Kofax Transformation Modules™
• Named a "Leader" by Forrester Research, Inc. in the industry analyst firm's April 2013 report entitled "The Forrester Wave™: Smart Process Applications, Q2 2013"
• Received U.S. patent number 8,451,475, which covers technology invented to improve the efficiency of fax communications based on their content

Subsequent Event:

• On July 31, 2013 announced the acquisition of Kapow Technologies, Inc., a leading provider of data integration software, allowing Kofax to speed its time to market with new solutions and customers' ROIs

A summary of Kofax's revenues and adjusted EBITDA for the fourth quarter and fiscal year ended June 30, 2013 compared to the prior year periods is as follows:

Commenting on these results, Reynolds C. Bish, Chief Executive Officer, said: "Following a strong third quarter, we were pleased to continue that momentum into the fourth quarter, realizing record software license and total revenues. We continued to make progress in strengthening and growing our sales organization and improving our execution across all geographies and product lines, including our legacy capture as well as acquired and new product offerings in the faster growing segments of our target markets. During the second half of the fiscal year we returned to year over year software license revenue growth of 8.9% and total revenues growth of 6.4%. This is in contrast to the first half of the fiscal year, and we believe it represents a significant and positive turning point in the Company's performance. We were also pleased with our adjusted EBITDA, adjusted cash generated from operations and fiscal year end cash, which were all as we would have expected given our results and the acquisition of Altosoft at the end of February 2013."

Bish continued: "As we look to the fiscal year ending June 30, 2014, we expect software license and total revenue growth but remain aware of the prevailing unpredictable nature of global macroeconomic conditions. We are also reminded of the limited amount of Kapow revenues we will be able to report this fiscal year due to IFRS purchase accounting and the large percentage of term software license bookings it will realize this fiscal year, which yield a significant amount of deferred as opposed to reported revenue. In light of the foregoing and including the expected results of all acquisitions to date, our guidance on a constant currency basis for the fiscal year ending June 30, 2014 is as follows:

Bish concluded: "From an expense perspective, we expect to continue investing in both our product research and development efforts and further strengthening and growing our sales organization in all areas of our business to drive faster software license revenue growth. In addition, Kapow reported an Adjusted EBITDA loss of $2.2 million for the fiscal year ended June 30, 2013 - like many other companies of its size with a large percentage of SaaS or term software license revenue - as a result of the significant amount of deferred as opposed to recognized revenue booked. We therefore expect this part of our business to be dilutive to our Adjusted EBITDA earnings and margins during the current and next fiscal year."

Non-IFRS Pro Forma guidance does not reflect the write off of substantially all of Kapow's deferred revenues as of the acquisition date as a result of IFRS purchase accounting guidelines. The Company believes that disclosing Non-IFRS Pro Forma results and guidance provides useful supplemental data that allows for greater transparency in the review of our financial and operational performance.

Webcast

Reynolds C. Bish and Chief Financial Officer Jamie Arnold will present and review the results and conduct a question and answer session in the London offices of FTI Consulting on September 4 at 9:00 a.m. U.K. time / 4:00 a.m. Eastern Time in the U.S. The event will be webcast live and can be accessed as follows:

The live webcast can be accessed through the investor relations section of the Company website. Participants are advised to dial in 15 minutes before the call in order to register in time for the start of the presentation.

A replay of the webcast will be available on the investor relations section of the Company website by 1:00 p.m. U.K. time / 8:00 a.m. Eastern Time in the U.S. on September 4. These can be accessed at http://www.kofax.com/investors/presentations.php.

About Kofax

Kofax plc. (ISE: KFX) is a leading provider of innovative smart capture and process automation software and solutions for the business critical First Mile™ of customer interactions. These begin with an organization's systems of engagement, which generate real time, information intensive communications from customers, and provide an essential connection to their systems of record, which are typically large scale, rigid enterprise applications and repositories not easily adapted to more contemporary technology. Success in the First Mile™ can dramatically improve an organization's customer experience and greatly reduce operating costs, thus driving increased competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 20,000 customers in financial services, insurance, government, healthcare, business process outsourcing and other markets. Kofax delivers these through its own sales and service organization, and a global network of more than 800 authorized partners in more than 75 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.

1. Adjusted income from operations (Adjusted EBITDA) is IFRS based income from operations excluding the effects of share-based payment expense, depreciation expense, amortization of acquired intangible assets, acquisition related costs, restructuring costs and other operating expense, net.

2. Adjusted diluted EPS is calculated using adjusted income from operations (Adjusted EBITDA) reduced by depreciation and income taxes and the fully diluted shares outstanding.

© 2013 Kofax, plc. "Kofax" is a registered trademark and "First Mile", "Kofax Capture", "Kofax Transformation Modules", "Kofax Mobile Capture" and "Kofax Analytics for Capture" are trademarks of Kofax plc. All other trademarks are the property of their respective owners.

Chief Executive Officer's Review

Financial Performance

During the fiscal year ended June 30, 2013 software license revenue declined 4.3% - or 3.1% in constant currency - and total revenues grew 1.5% - or 2.7% in constant currency. It would, however, be misleading to draw definitive conclusions from these annual results as the fiscal year was characterized by two distinctly different half years.

During the first half we experienced an 18.0% - or 16.6% in constant currency - year over year decline in software license revenue and a 3.6% - or 1.6% in constant currency - year over year decline in total revenues. In contrast, during the second half we returned to year over year software license revenue growth of 8.9% - or 9.6% in constant currency - and total revenues growth of 6.4% - or 6.8% in constant currency. We believe this dramatic turnaround is the direct result of actions we initiated during the first half to accelerate software license revenue growth and address volatile quarterly results arising from a reliance on large, seven figure sales, which are often difficult to control and predict. We also believe it represents a significant and positive turning point in the Company's performance.

Early in the first half we welcomed Howard Dratler as our new Executive Vice President of Field Operations. After a period of diligence and thoughtful analysis, in October we reorganized our sales force to better focus its resources, improve its execution and productivity and reduce our reliance on large, seven figure sales. Shortly following that reorganization we began to see early evidence of the expected benefits emerging in a number of leading indicators. As we entered the second half, we began to slowly realize those benefits in our software license revenue pipeline, forecast and bookings. This continued and we progressively realized more of those benefits, which resulted in the much improved second half performance.

In addition, we experienced significantly different software license revenue performance in our legacy capture versus our newer businesses in mobile and those of acquired companies. Software license revenues in our legacy capture business declined 8.2% during the fiscal year - even more during the first half offset by growth in the second half - while software license revenues in mobile and those of acquired companies grew by 30.3% during the fiscal year. The challenge of slower growth in our legacy capture business market has been confirmed by Forrester, an information technology industry analyst firm, in an independent market assessment commissioned by Kofax. Fortunately, that assessment also concluded that the combined end user markets targeted by Kofax, which include software and maintenance services for the capture, business process management and information intensive smart process applications markets, are expected to grow from $7.1 billion in 2012 at an 18.5% compound annual growth rate to $14.0 billion in 2016. So as software license revenues in mobile and those of acquired companies grow faster and become a larger percentage of our total software license revenue, we expect to realize accelerating overall software license revenue growth.

Despite our strong second half performance, we nonetheless experienced a 4.5% year over year decline in adjusted income from operations - also known as Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization or Adjusted EBITDA - for the fiscal year. This is the result of our explicit decision to continue investing more in both our product research and development efforts and further strengthening and growing our sales organization in all areas of our business to drive faster software license revenue growth. For a definition of adjusted income from operations please refer to the Chief Financial Officer's Review that follows.

We ended the fiscal year with cash of $93.4 million (2012: $81.1 million). This was after paying $11.5 million to Altosoft shareholders for the acquisition of that business and $9.9 million in deferred consideration to shareholders of businesses acquired in prior fiscal years. Our $40.0 million line of credit with Bank of America Merrill Lynch remains in place to further enhance our financial position. As a result, our balance sheet remains strong and we have the resources needed to fund our organic growth while executing our acquisition strategy, even after the acquisition of Kapow subsequent to the end of the fiscal year.

While we certainly could have performed better during the first half of the fiscal year, we are pleased with the turnaround and clear progress during the second half, and we remain confident in our business and optimistic about our future.

Operating Highlights

During the fiscal year we successfully added over 2,641 new customers (2012: 2,348). We also closed 128 sales greater than $100,000 (2012: 142), 28 sales greater than $500,000 (2012: 27) and 7 greater than $1 million (2012: 8). These once again included one of the largest sales in the history of Kofax for $4.8 million to a national government agency in Western Europe for a large scale, nationwide capture project.

Two of the more notable events during and subsequent to the end of the fiscal year were our acquisitions of Altosoft and Kapow Technologies. Both acquisitions were consistent with our stated acquisition strategy and in adjacent areas of interest that we've been talking about for some time now.

At the end of February 2013 we acquired Altosoft, Inc., a leading developer of business intelligence and analytics software. Its products allow us to provide more actionable information to our customers sooner than would otherwise be possible through near real-time process and data analytics, visualization and ETL capabilities, and further enhances our product portfolio by providing a core component needed for smart process applications. The products are available as both perpetual licenses for on-premise deployments and as a hosted SaaS subscription offering.

We acquired all of Altosoft's stock for $13.5 million in cash, with $2.0 million held back for one year being subject to certain indemnification terms and conditions. An additional $3.0 million in cash payments may be made subject to the achievement of specific annual revenue growth rates during calendar years 2013, 2014 and 2015 and certain management employment conditions. Our integration of the company was substantially completed by the end of fiscal year 2013, and our end user customers and resellers have responded favorably to this acquisition.

At the end of July 2013 we acquired Kapow Technologies, Inc., a leading provider of data integration software. Kapow's products will greatly simplify our ability to integrate smart process applications with an organization's systems of engagement and systems of record, allowing us to speed our time to market with new solutions and customers' ROIs. Such integrations are needed for content import and export purposes as well as data validation during a business process.

Kapow Katalyst™ is the only data integration software to provide near real-time application integration and process automation offering both traditional API level integration capabilities as well as an innovative Synthetic API™ approach, which provides business users with an agile "point and click, no coding" approach. The resulting data integration modules can then be deployed via Kapow Kapplets™, lightweight apps instantly accessible on a self-serviced basis. The products are available under both perpetual and term licenses for on-premise deployments, and the company successfully transitioned the majority of its licenses from perpetual to term licenses while growing total revenues during its last four fiscal years.

We acquired all of Kapow's stock for total consideration of $47.5 million in cash, prior to deducting approximately $1.3 million of cash held by Kapow on closing of the transaction. Of this amount, $40.4 million was paid on closing. An additional $2.4 million will be paid upon Kofax's receipt of Kapow's audited financial statements for its fiscal year ended June 30, 2013, $2.2 million will be paid one year from closing and $2.5 million will be paid two years from closing, with said amounts being subject to certain indemnification terms and conditions. We expect to complete our integration of the company by the end of calendar year 2013.

We'll be investing to grow both the Altosoft and Kapow sales organizations in order to accelerate their software revenue growth while also leveraging their products to accelerate growth in our smart process applications software and solutions business.

Our investments in research and development have allowed us to successfully launch eight significant new software product releases during the fiscal year, including:

• Kofax Mobile Capture™ for Mortgage Applications, which allows lenders to bring the mortgage application process directly to borrowers using mobile devices to dramatically accelerate processing and improve the customer experience
• Kofax Mobile Capture^TM for Driver Licenses, which enables mobile apps that require users to capture images of and data contained in U.S. driver licenses
• Kofax Mobile Capture^TM for Auto Claims, a First Notice of Loss (FNOL) for auto accident claims that lets policyholders use mobile devices to capture images of documents and pictures at the scene of an accident, and initiate a claim with their insurer
• Kofax Mailroom Automation, a smart process application for digital mailrooms that combines capture, process management and analytics capabilities, and thereby offers more comprehensive document processing services
• Kofax Customer Onboarding™, a smart process application that lets users submit data and images of new customer enrollment documents from any source - including mobile devices, internet portals, desktop scanners and multifunction peripherals (MFPs) - and then ensures that the onboarding process is completed in a timely, accurate and cost effective manner while optimizing the customer experience
• Kofax MarkView® for Accounts Payable 8.0, which adds mobile capabilities to this accounts payable automation solution for SAP and Oracle ERP users
• Kofax Transformation Modules™ 6.0, which now automatically classifies, separates and extracts content from unstructured in addition to semi-structured and structured documents
• Kofax Analytics for Capture™, which provides robust business intelligence and analytics for Kofax Capture™ and Kofax Transformation Modules™

These investments have also resulted in the issuance of two additional patents to protect Kofax's intellectual property:

• U.S. patent number 8,345,981, which covers technology used to ensure the validity of data extracted from documents by reverse matching that data with information contained in an organization's systems of record
• U.S. patent number 8,451,475, which covers technology invented to improve the efficiency of fax communications based on their content

During the fiscal year we were also pleased to continue receiving widespread recognition for our market position and products. This included:

• Forrester published its first report entitled "The Forrester Wave^TM: Smart Process Applications, Q2 2013", which ranked Kofax a "Leader" and noted the strength of our strategy and strong multichannel capture, mobile capture and process management capabilities
• Forrester, as a result of the independent market assessment commissioned by Kofax noted above, concluded that in 2012 we had a number one, leading 15% share of the capture market
• Kofax Web Capture™ was named to KMWorld Magazine's prestigious list of "Trend Setting Products of 2012"
• Kofax Web Capture received the Editor's Choice Award and Kofax's implementation at Exmoor National Park was named Government Project of the Year at the 2012 Document Manager Awards hosted by DM Magazine
• Kofax was added to the FTSE4Good Index Series, a family of share indexes for companies meeting globally recognized corporate responsibility standards
• I was honored at the 2012 British American Business Awards for leadership in the Southern California business community

Corporate Mission & Strategy

Our mission is to deliver superior value to our stakeholders - customers, partners, employees, suppliers and shareholders - by extending our position as a leading provider of smart process applications software and solutions for the business critical First Mile^TM of customer interactions. Our smart process applications provide an essential connection between an organization's systems of engagement with customers, which generate real time, information intensive communications, and their systems of record, which are typically large scale enterprise applications and repositories used to manage information and internal operations. They combine our market leading capture, process management, dynamic case management, analytics, data integration and mobile capabilities to radically transform and simplify these interactions, and result in an optimized customer experience and greatly reduced operating costs, thus driving increased competitiveness, growth and profitability. As a result of these benefits, many of our users realize a return on investment (ROI) within 12 to 18 months.

We intend to accomplish this mission by pursuing these key strategies:

1. Broadening our smart process applications offerings and markets,
2. Further penetrating our large installed base of over 20,000 end user customers,
3. Expanding and optimizing our hybrid go-to-market model that supports both direct sales to end users and indirect sales through resellers and OEM partners and
4. Continuing to pursue strategic acquisitions.

While doing so we will also make on-going investments in research and development in order to maintain, improve and add to our smart process applications software offerings, while over time prudently reallocating those expenditures to better focus on the more rapidly growing areas of our business. This, combined with our acquisition strategy, will continually expand our vision to encompass additional growth opportunities.

We made a great deal of progress in many of these areas during this last fiscal year and have further solidified a foundation for more aggressively pursuing our mission and strategies during the current and future fiscal years.

Dividend Matters

The Board regularly reviews our strategy, balance sheet and future opportunities, and considers the Company's dividend policy. After careful consideration of these factors throughout fiscal year 2013 and through today, the Board maintained and currently intends to maintain its policy of not paying dividends in order to invest in better growing our business. As a result, no dividends were declared or paid during fiscal year 2013.

Board & Management Changes

There were no changes in our Board of Directors during fiscal year 2013.

We were pleased to welcome Howard Dratler as our new Executive Vice President of Field Operations during July 2012. Howard is responsible for all customer facing functions on a global basis, including sales, pre sales, channel management, business development, sales enablement, professional services, maintenance services and sales operations activities. He is a seasoned software industry executive with more than 25 years of experience across a wide range of applications, including storage, capture, content management, data warehousing and products offered under both perpetual license and SaaS subscription models, and has worked in early stage companies as well as much larger, global organizations. The majority of his background, experience and focus has been in developing hybrid go-to-market strategies and building high performance sales teams. He has an impressive track record of successfully achieving goals and objectives while effecting positive change in a number of companies, including Captiva Software Corporation - where he also worked with me as the Executive Vice President of Field Operations. As a result, Howard has been a valuable addition to our executive management team and will be instrumental in driving our revenue growth strategies.

Alan Kerr, who was our previous Executive Vice President of Field Operations, is no longer a member of our executive management team, and subsequent to the end of fiscal year 2013 Martyn Christian, who was our Chief Marketing Officer, resigned and we are currently conducting a search for his replacement. There were no other changes in the Company's executive management team during or subsequent to the end of fiscal year 2013.

Guidance

As we look to the fiscal year ending June 30, 2014, we expect software license and total revenue growth but remain aware of the prevailing unpredictable nature of global macroeconomic conditions. We are also reminded of the limited amount of Kapow revenues we will be able to report this fiscal year due to IFRS purchase accounting and the large percentage of term software license bookings it will realize this fiscal year, which yield a significant amount of deferred as opposed to reported revenue. In light of the foregoing and including the expected results of all acquisitions to date, our guidance on a constant currency basis for the fiscal year ending June 30, 2014 is as follows:

From an expense perspective, we expect to continue investing in both our product research and development efforts and further strengthening and growing our sales organization in all areas of our business to drive faster software license revenue growth. In addition, Kapow reported an Adjusted EBITDA loss of $2.2 million for the fiscal year ended June 30, 2013 - like many other companies of its size with a large percentage of SaaS or term software license revenue - as a result of the significant amount of deferred as opposed to recognized revenue booked. We therefore expect this part of our business to be dilutive to our Adjusted EBITDA earnings and margins during the current and next fiscal year.

Non-IFRS Pro Forma guidance does not reflect the write off of substantially all of Kapow's deferred revenues as of the acquisition date as a result of IFRS purchase accounting guidelines. We believe that disclosing Non-IFRS Pro Forma results and guidance provides useful supplemental data that allows for greater transparency in the review of our financial and operational performance.

Thank You

Our performance is the direct result of the dedication and hard work of our valued employees, indirect channel partners and suppliers, and the continued support of our customers and shareholders. I would like to once again use this opportunity to sincerely thank all of these stakeholders for their on-going contributions to our success.

Reynolds C. Bish
Chief Executive Officer
September 3, 2013

Chief Financial Officer's Review

We exit fiscal year 2013 with momentum and enthusiasm. While the first half of the fiscal year was disappointing as we reported a decline in license revenue leading to lower total revenue and earnings, it also appears to represent a bottom. In the second half of the fiscal year, we grew license revenue 8.9% year over year, we grew total revenue 6.4% year over year, which gave us the confidence to return to making investments in sales particularly quota carrying sales staff and to a lesser extent product development staff. In addition to generating growth from existing products, we acquired two companies, Altosoft, for analytics and business intelligence, and Kapow, for data integration, after year-end, which further enhance our position as a technology leader in our market.

Revenue

Total revenue increased $3.8 million, or 1.5% in the fiscal year ended June 30, 2013 compared to the fiscal year ended June 30, 2012 due to an $8.4 million increase associated with our acquisitions of Singularity and Altosoft and our new mobile offering, offset by a $4.5 million or 1.8% decrease in organic revenues.

The following tables present revenue by financial statement line, as well as in total for each of our geographic regions:

The Coca-Cola Company (TCCC) and Water and Sanitation for the Urban Poor (WSUP) Launch Partnership

New Partnership Support Sustainable WASH Service Delivery in Africa to Benefit At Least 270,000 People

STOCKHOLM--(BUSINESS WIRE)-- Today at World Water Week in Stockholm, The Coca-Cola Company (TCCC) and Water and Sanitation for the Urban Poor (WSUP) announced the Company's support of new programs in four African countries - Kenya, Zambia, Madagascar, and Mozambique. The funding, a total of $4.6MM from The Coca-Cola Africa Foundation, will support sustainable solutions to clean water and sanitation service delivery for at least 270,000 people in urban and peri-urban areas. Activities to be supported include the development of water kiosks and storage tanks for local communities, sustainable water supply services and capacity building of local service providers. The Coca-Cola funding will also be matched by WSUP partners, local communities and governments. The programs are to be part of the Company's Replenish Africa Initiative (RAIN), an effort providing at least 2MM people with clean water access by the end of 2015.

WSUP, a non-profit partnership between the private sector, NGOs and research institutions, focuses on solving global problems of inadequate water and sanitation in low-income urban communities. Highlights of the work to be supported include a range of approaches that offer lasting clean water and sanitation services in partnership with local water utilities, businesses, authorities and the communities they service to support government objectives, including:

• Kenya - At least 45,000 people will benefit from the RAIN-WSUP intervention in the Kiu, Mirera, Karagita, Kamere, Kwa Muhia and Kasarani peri-urban settlements of Naivasha Municipality, next to the internationally renowned Lake Naivasha in the Rift Valley Province. The effort will establish water treatment, storage and distribution networks to provide safe water to local communities affected by dental and skeletal fluorosis, due to the high levels of fluoride in the underground water. Water kiosks and storage tanks will be constructed with a fluoride filtration system. The project will also rehabilitate boreholes, expanding access to clean and affordable water to low-income inhabitants. Sanitation improvement activities will include the rehabilitation of yard latrine units, the development and implementation of a sanitation marketing strategy, and the training of artisans and community based enterprises in production of sanitation products. Local women will take an active role in the project through leadership roles and potential employment in local water and sanitation enterprises.
• Zambia- The RAIN-WSUP project will provide equitable and safe water access to the 63,000 people of Chainda and Bauleni, low income peri-urban communities near Lusaka. The project will support the development of a sustainable water supply service delivery model by Lusaka Water and Sewerage Company (LWSC), the municipal service provider. Activities will include the improvement of the existing water system, the training of LWSC staff and communities in the use of newly introduced innovative pre-paid water dispensers, the mobilization and engagement of the communities, improved sanitation facilities and the establishment of new delegated management structures. In addition, this project will promote women's empowerment by employing women as water vendors.
• Madagascar - The RAIN-WSUP project will expand service for low income peri-urban communities of Antananarivo by building the capacity of Jiro sy Rano Malagasy (JIRAMA), the local service provider, to support their delivery of water and sanitation services sustainably on a city-wide scale. Specific activities include the construction of 73 water kiosks and eight laundry blocks in the city's seven Communes, the training of the community in facility management, and the capacity building of JIRAMA's staff in Non-Revenue Water (NRW) prevention. The project will benefit 142,000 people and contribute to improvements in health, livelihoods, gender equality and reduced poverty. Women in the community will be encouraged to take on leadership roles throughout the development of the project and have the opportunity to generate income through the newly-built laundry blocks.
• Mozambique - The RAIN-WSUP project will scale activities to provide safe and sustainable drinking water to target peri-urban communities of Maputo and build the capacity of Águas da Região de Maputo (AdeM), the water utility. Sanitation interventions will include the development of communal and shared sanitation facilities, the improvement of sanitation in schools and the implementation of drainage improvements to realize the full health impacts of better water and sanitation. An estimated 28,250 people will benefit from the RAIN-WSUP project. Women will be included in all phases of the project and opportunities for women's employment in water stand-post operations will be provided.

"We value the opportunity to work with a global leader like The Coca-Cola Company to scale up the delivery of affordable and sustainable clean water and sanitation services in Kenya, Zambia, Madagascar and Mozambique. With our strong focus on Africa and the wide footprint of TCCC across the continent, we are very pleased to be working with Coca-Cola in four of the five African countries in which we currently work," said Sam Parker, CEO of WSUP.

"WSUP is a valued partner in helping us to build sustainable communities through access to clean water and sanitation service delivery. Their focus on building local capacity and bringing the private sector, NGOs and research institutions together to focus on challenges in urban areas is directly in line with Coca-Cola's community water partnership strategies. We are delighted to expand our impactful partnership with WSUP under the RAIN initiative," said Dr. Susan Mboya-Kidero, President of The Coca-Cola Africa Foundation.

About Water and Sanitation for the Urban Poor (WSUP)

Water and Sanitation for the Urban Poor (WSUP) is a non-profit partnership between the private sector, NGOs and research institutions focused on solving the global problem of inadequate water and sanitation in low-income urban communities. It brings lasting solutions to low-income areas by working in partnership with service providers including water utilities, local authorities and businesses, and the communities they serve. WSUP strengthens the capacity of service providers to deliver sustainable city-wide water and sanitation services, promote good hygiene and raise the environmental standards of low-income communities.

WSUP is a RAIN partner, implementing projects in Kenya, Madagascar, Mozambique, Uganda and Zambia to improve the lives of hundreds of thousands of individuals and provide communities with clean water and sanitation services.

For more information visit: http://www.wsup.com/

About The Coca-Cola Company

The Coca-Cola Company (NYS: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, the world's most valuable brand, our Company's portfolio features 16 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of more than 1.8 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world's top 10 private employers with more than 700,000 system associates. For more information, visit Coca-Cola Journey at www.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo or visit our blog, Coca-Cola Unbottled, at www.coca-colablog.com.

About RAIN

In response to the severe water challenges faced by the nearly 300 million Africans living without access to clean water, TCCAF introduced the Replenish Africa Initiative (RAIN) in 2009. RAIN recognizes the water projects that TCCC and its bottling partners have already supported on the continent (since 2005) and highlights TCCC's new investment of US$30-million over six years (2010 to 2015) to water projects in Africa. RAIN aims to provide over 2 million people in Africa with access to clean water by the end of 2015. RAIN is TCCC's contribution to helping Africa achieve the United Nation's Millennium Development Goals on clean water and sanitation access. TCCAF will leverage this US$30-million investment and aims to attract dollar-for-dollar match funding through 2015.

Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130904005640/en/

The Coca-Cola Company
Serena Levy, +01 404-676-2683
Director, Corporate External Affairs
or
Global Environment & Technology Foundation (GETF)
Brian Banks, +1-703-379-2713
Communications Manager
brian.banks@getf.org

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Canon Expands Its Cinema Prime Lens Family to Six Models with the Introduction of the New CN-E35mm T1.5 L F for Single-Sensor 35mm Cameras

Designed for Film-Style Operation, the Canon Cinema Prime Lenses Deliver Exceptional 4K / 2K / HD Imaging Performance and a Broad Range of Focal Lengths

MELVILLE, N.Y.--(BUSINESS WIRE)-- Canon U.S.A., Inc., a leader in digital imaging solutions, has announced today the new CN-E35mm T1.5 L Fsingle-focal-length Cinema prime lens designed for large-format single-sensor digital cinematography cameras employing Super 35mm or full-frame 35mm imagers. Delivering outstanding optical performance in contemporary 4K / 2K / HD motion imaging, the new Canon CN-E35mm T1.5 L Fprime lens is the sixth member of Canon's line of compact, precision-matched EF-mount Cinema prime lenses, which also includes 14mm, 24mm, 50mm, 85mm and 135mm EF-mount models.

Collectively, Canon's Cinema prime lens family delivers a wide range of the most important choices in focal lengths to address a myriad of creative digital cinematography choices. All six Canon Cinema prime lenses provide a full-frame 36mm x 24mm image circle for full compatibility with the Canon EOS-1D C, EOS C500, EOS C300 Digital Cinema cameras, the EOS 5D Mark III and EOS-1D X DSLR cameras, the EOS C100 Digital Video Camera and EF-mount cameras made by other manufacturers. The lenses also feature consistent color balance, minimal focus breathing, water-resistant rubber gaskets, and an 11-blade aperture diaphragm to help achieve creative depth-of-field manipulation and pleasing "bokeh" effects. The six Canon Cinema prime lenses are also designed to facilitate production with uniform stepless gear-positioning rings for iris and focus, with an identical 300º smooth rotation angle on the focus ring. These control rings - switchable from feet to metric labeling - maintain just the right amount of resistance with consistent operating torque. Lens barrels are engraved with easy-to-read scale markings, and consistent 114mm front lens diameters can accommodate screw-on filters and other accessories.

"As with all Canon Cinema prime lenses, the new Canon CN-E35mm T1.5 L F lens has been crafted to meet the creative requirements of the most discerning cinematographers, directors and producers," said Yuichi Ishizuka, executive vice president and general manager, Imaging Technologies & Communications Group, Canon U.S.A. "Filmmakers indicated a need for this lens in our lineup and with its launch, we now offer six cinema prime lenses covering some of the most important focal lengths."

Canon EF Mount Advantages

All Canon Cinema prime lenses feature a genuine Canon EF-mount with electronic contacts that interface with corresponding contacts on Canon cameras for direct communication between each device. This communication allows lens data - including F-numbers - to be displayed in the viewfinder. Both the F-number and the lens model name are also recorded in the camera's video file as metadata. The new upcoming firmware announced today for the Canon Cinema EOS C500, EOS C300 and EOS C100 cameras will provide Canon proprietary features, such as the Peripheral Illumination Correction function, for the CN-E14mm, 24mm, 50mm, 85mm and 135mm lenses and is scheduled to be available by the end of 2013. Such features are scheduled to be available for the new CN-E35mm lens in 2014.

Canon Cinema Prime Lens Comparison Chart

**Horizontal Angle of view for full frame 35mm (aspect ratio 1.5:1, 36.0x24.0mm)

***M.O.D: Minimum Object Distance

Canon Cinema Zoom Lenses

The versatility of image-capture options using Canon EOS Cinema Cameras can be further extended with Canon's Cinema Zoom lenses (the CN-E14.5-60mm T2.6 wide-angle and the CN-E30-300mm T2.95-3.7 telephoto) and compact Cinema Zoom lenses (the CN-E15.5-47mm T2.8 wide-angle and CN-E30-105mm T2.8 telephoto). All four lenses are available in both EF- and PL-mount versions; the mount can be switched at a Canon service facility in the United States for added flexibility. Almost all of Canon's EF Series photographic lenses can also be used with Canon Cinema EOS Cameras, including Image Stabilized zoom, tilt-shift and macro lenses.

Pricing and Availability

The Canon CN-E35mm T1.5 L F Cinema prime lens is expected to be available in December 2013 for an estimated retail price of $5,200. For a visual representation of the power of Canon's Cinema optics, please visit: pro.usa.canon.com/cineoptics.

About Canon U.S.A., Inc.

Canon U.S.A., Inc., is a leading provider of consumer, business-to-business, and industrial digital imaging solutions. With approximately $40 billion in global revenue, its parent company, Canon Inc. (NYS: CAJ) , ranks third overall in U.S. patents registered in 2012† and is one of Fortune Magazine's World's Most Admired Companies in 2013. In 2012, Canon U.S.A. has received the PCMag.com Readers' Choice Award for Service and Reliability in the digital camera and printer categories for the ninth consecutive year, and for camcorders for the past two years. Canon U.S.A. is committed to the highest level of customer satisfaction and loyalty, providing 100 percent U.S.-based consumer service and support for all of the products it distributes. Canon U.S.A. is dedicated to its Kyosei philosophy of social and environmental responsibility. To keep apprised of the latest news from Canon U.S.A., sign up for the Company's RSS news feed by visiting www.usa.canon.com/rss and follow us on Twitter @CanonUSA.

†Based on weekly patent counts issued by United States Patent and Trademark Office.

All referenced product names, and other marks, are trademarks of their respective owners.

Availability, specifications and pricing of all products are subject to change without notice.

Editorial Contacts:
Canon U.S.A., Inc.
Ashley Dickerson, 631-330-4286
adickerson@cusa.canon.com
or
Marcomm Group
Brian McKernan, 516-829-0404
bmckernan@marcommgroup.com
or
For sales information/customer support:
1-800-321-HDTV (4388)
www.canonbroadcast.com
or
Canon U.S.A. Web site:
www.usa.canon.com

KEYWORDS:   United States  North America  New York

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Canon Cinema EOS Cameras and XF300-Series Camcorders Receive Enhanced Upgrades Through New Firmware

New Capabilities Include ACESproxy Output, Full RAW 120fps 4096 x 1080 Resolution and DCI-P3+ Color Gamut Support for the EOS C500 Camera, and 80,000 ISO Shooting for All Three Cinema EOS Camera Models

MELVILLE, N.Y.--(BUSINESS WIRE)-- Canon U.S.A., Inc., a leader in digital imaging solutions, has announced significant enhancements for the EOS C500 and EOS C300 Digital Cinema Cameras, and the EOS C100 HD Digital Video Camera, through new firmware scheduled to be available starting in November 2013 for the EOS C300 and EOS C100 camera and December 2013 for the EOS C500. In addition, the XF305 and XF300 series camcorders are scheduled to receive firmware updates in early 2014 that include GPS support and enhanced digital tele-converter capabilities. Based on input from the motion picture and television production communities, these updates are designed to extend image capture capabilities, increase operational convenience, enhance the versatility of recorded files, and facilitate postproduction workflow efficiencies, particularly with regard to maintaining accurate industry-standard color values.

"Canon is committed to supporting the motion picture and television production communities to the fullest extent possible," stated Yuichi Ishizuka, executive vice president and general manager, Imaging Technologies & Communications Group, Canon U.S.A. "Canon listens closely to comments from the production industry. These new Canon firmware updates for Cinema EOS cameras and XF300-series camcorders are designed to enhance the ability of filmmakers and professional content creators to meet their technical and creative needs, and help them tell their stories as they envisioned them."

Among the updates for the Canon Cinema EOS C500 Cinema Camera are: an ACESproxy (Academy Color Encoding System) output from the camera's 3G-SDI monitor terminal for immediate on-set color correction (using a compatible ACES monitor with ASC CDL [The American Society of Cinematographers Color Decision List]) while primary footage is being recorded in RAW; support for the DCI-P3+ color gamut (a selectable function providing a wider range of color than DCI-P3); Canon proprietary Cinema Gamut for an even greater color gamut than industry standards ITU-R BT.709 (Rec. 709) and DCI-P3; and greater still than DCI-P3+. The firmware also includes an increase in ISO of up to 80,000 for capturing usable footage in darker conditions (including moonlight). The ISO increase also applies to the Canon EOS C300 Cinema Camera and the Canon EOS C100 Digital Video Camera, both of which also share additional firmware enhancements with the EOS C500 Cinema Camera, including a Peripheral Lens Correction feature to maintain even illumination from corner to corner of the image when using select EF lenses. A full list of all firmware updates for each EOS camera appears below.

Canon EOS C500 Firmware Updates

• ACESproxy output from the camera's 3G-SDI monitor terminal - Allows filmmakers to grade their footage (which is being recorded in RAW) immediately on-set using a compatible ACES monitor with ASC CDL. This provides an accurate representation of how the footage will look after being color graded in the DI suite when a project uses ACES.

• Support for DCI-P3+ color gamut (Cinema Raw Development) - DCI-P3 is the standard color gamut for digital movie projection. DCI-P3+ is an expanded gamut. This color space shares the same white point as DCI-P3, but encompasses a much greater range of color. By exceeding the DCI-P3 standard, the Canon EOS C500 camera offers filmmakers, in particular the cinematographer, an increase in saturated colors which can be faithfully reproduced, as well as a more accurate representation of the original subject color.

• Canon Proprietary Cinema Gamut- Cinema Gamut is the widest color space currently available for the EOS C500 Cinema Camera. Canon's Cinema Gamut is wider than both Rec. 709 and DCI-P3+, allowing end users to faithfully record highly saturated color while retaining fine variations of both hue and saturation.

• Canon Log LUT (look-up-table) available over the 3G-SDI monitor terminal -When the camera is recording in Canon Log format, the image that is simultaneously outputted over the 3G-SDI terminal to an external monitor can be viewed in its original color space without the apparent lack of contrast and color saturation, resultant of the Log format.

• 4096 x 1080 RAW resolution - In this new shooting mode, in full RAW recording, the vertically cropped center of the EOS C500 camera's Super 35mm CMOS sensor can now record in 4096 x 1080 native resolution, up to 120fps.

Canon EOS C500, C300 and C100 Camera Firmware Updates

• Peripheral lens correction feature - This maintains even illumination from corner to corner of the image and virtually eliminates vignetting across the image. There are 14 Canon EF-Series photographic lenses that benefit from this feature including the EF300mm f/2.8L IS II USM, EF400mm f/2.8L IS II USM, the EF500mm and EF600mm f/4L IS II USM. The seven Canon CN-E Series Cinema Lenses¹ that benefit from this feature include the CN-E15.5-47mm and CN-E30-105mm T2.8L S compact Cinema zooms, the CN-E14mm T3.1L F, the CN-E24mm T1.5L F, the CN-E 50mm T1.3L F, the CN-E85mm T1.3L F, and the CN-E135mm T2.2L F Cinema prime lenses.

• ISO increased up to 80,000 - This provides the EOS C500, EOS C300 and EOS C100 cameras with greater light sensitivity than ever before. Great for documentaries and other forms of reality production, this ISO increase can help capture shots that may have been previously impossible to capture.

• Ability to shift the magnification location in the viewfinder - Allows users to manually move the magnification view area to one of 25 different locations using the joystick on the camera. With this feature, the camera operator can easily check focus even on subjects that are not located directly in the center of the frame.

• Record button lock - The lock setting on the Key Lock now makes it possible to lock all operations, including the RECORD button, to prevent accidental operation during takes.

Canon EOS C500 and C300 Camera Firmware Updates

• Multi-person log-in for the Canon Wi-Fi ^® remote application - This allows two users to log-in to a single camera, allowing for camera operation/control with one log-in and metadata to be inputted by the second log-in simultaneously. This is essential when time is critical and production tasks need to be completed immediately.

• Ability to assign ISO and iris adjustments to the control dial (or, on the EOS C300 camera, the dial on the removable side grip handle) -This gives operators the option to allocate whichever setting they prefer to either dial, allowing for specific changes at a moment's notice.

Canon EOS C300 Camera; XF305 & X300 Camcorder Firmware Updates

• GPS Support - Provides accurate metadata on the location and time of each clip, including longitude, latitude, and altitude for the EOS C300 camera when used with Canon's optional GP-E1 or GPS Receiver and for the XF305 and XF300 camcorders when used with Canon's optional GP-E2 GPS Receiver. This is an especially handy feature for documentaries, ENG (Electronic News Gathering) and reality programming.

Canon EOS C300 Firmware Updates

• Wide DR gamma -With a high dynamic range that maintains highlight detail and preserves perfect gradations of color, this feature is designed to help achieve perfect color without adjustment. Optimized for display monitors, wide DR gamma is well-suited for productions that do not allow for lengthy postproduction processing and color grading, such as budget-conscious indie films, web series, or documentaries.

• 1440 x 1080 35Mbps for broadcast requirements -This highly utilized recording mode (at 60i or 50i) is designed to enable the EOS C300 camera to seamlessly align with the standard workflows used by many major broadcast news networks.

• Push auto iris/one-shot AF -These new additions make the EOS C300 camera increasingly attractive for solo, run-and-gun style cinéma vérité shooting. These features (which are already included in the EOS C100 camera), automatically adjust the exposure and/or focus to the most suitable setting at the push of a button. They also provide support for the Canon EF-S 18-135mm f/3.5-5.6 IS STM standard zoom lens. The new peripheral lens correction feature further benefits the use of this lens by virtually eliminating vignetting and maintaining even illumination across the image.

•Automatic Exposure (AE) Shift/ Selecting the Metering Mode/ Flicker Reduction - AE Shift can be used to compensate the automatic exposure set by the camera when using the push auto iris function. Users can engage AE Shift in the camera menu to make slight adjustments to the image brightness helping compensate for scenes that are slightly over or underexposed. The new AE Shift capability provides 15 steps, from -2 to +2. The new firmware also enables three light metering mode options to be selected: Standard, Backlight or Spotlight. By selecting a light-metering mode to match one of three recording conditions, users will help ensure the EOS C300 camera obtains a suitable exposure level when the push auto iris function is used. When recording under artificial light, the camera's monitor may flicker depending on the shutter speed. By setting Flicker Reduction to "Automatic" the EOS C300 camera will automatically detect and reduce flicker on the camera's monitor.

Canon EOS C100 Camera Firmware Update

• Menu Navigation now possible through buttons on camera body - Previously menu navigation on the EOS C100 camera was only possible through the removable joystick - when the joystick was detached, menu navigation ceased. Allowing users to easily navigate menu options, even with the removable joystick grip detached, buttons on the rear of the camera body will be able to navigate menu options with this new firmware. The buttons on the rear of the camera under the built-in monitor can be assigned as follows: 1) Set, 2) Up, 3) Left, 4) Down, 5) Right.

XF305 and XF300 Camcorder Firmware Update

• Digital Tele-Converter - This update extends the choice of magnification settings with two great options from the current 1.5X to 3X and 6X.

All products in the Canon Cinema EOS line are engineered to provide outstanding image creation capabilities for professionals in the motion picture, television and diverse high-resolution digital production industries. All of these products are designed to contribute to the continued advancement of tools for visual expression and they convey Canon's ongoing commitment to the industry.

About Canon U.S.A., Inc.

Canon U.S.A., Inc., is a leading provider of consumer, business-to-business, and industrial digita imaging solutions. With approximately $40 billion in global revenue, its parent company, Canon Inc. (NYS: CAJ) , ranks third overall in U.S. patents registered in 2012† and is one of Fortune Magazine's World's Most Admired Companies in 2013. In 2012, Canon U.S.A. has received the PCMag.com Readers' Choice Award for Service and Reliability in the digital camera and printer categories for the ninth consecutive year, and for camcorders for the past two years. Canon U.S.A. is committed to the highest level of customer satisfaction and loyalty, providing 100 percent U.S.-based consumer service and support for all of the products it distributes. Canon U.S.A. is dedicated to its Kyosei philosophy of social and environmental responsibility. To keep apprised of the latest news from Canon U.S.A., sign up for the Company's RSS news feed by visiting www.usa.canon.com/rss and follow us on Twitter @CanonUSA.

†Based on weekly patent counts issued by United States Patent and Trademark Office.

All referenced product names, and other marks, are trademarks of their respective owners.
___________________

¹ Both the CN-E14.5-60mm T2.6 L and CN-E30-300mm T2.95-3.7 lenses exhibit no visible signs requiring correction in the final image, and therefore are not affected by this firmware update.

Editorial:
Canon U.S.A., Inc.
Ashley Dickerson, (631) 330-4286
adickerson@cusa.canon.com
or
Marcomm Group
Brian McKernan, (516) 829-0404
bmckernan@marcommgroup.com
or
Canon U.S.A. Web site:
www.usa.canon.com
or
For sales information/customer support:
1-800-321-HDTV (4388)
www.canonbroadcast.com

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS: