DUSA is researching the use of Levulan(R) PDT to preventAKs and squamous cell carcinomas in immunosuppressed solid organtransplant recipients and is supporting research related to oralleukoplakia in collaboration with National Institutes of Health (NIH).DUSA is based in Wilmington, Mass. Please visit our Web site at 2009, Market Wire, All rights reserved.-0-. CLEVELAND--(Business Wire)--Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today announcedthat Alexander M. Cutler, chairman and chief executive officer, will present atthe Electrical Products Group Conference in Longboat Key, Fla., on May 19, from12:30 p.m to 1:10 p.m Eastern time. The purpose of the presentation is todiscuss the company`s business prospects with securities analysts andinstitutional investors. A real-time audio web cast of the presentation and related presentationmaterials will be available at An audio replay will be availablefollowing the presentation at the same link. Eaton Corporation is a diversified power management company with 2008 sales of$15.4 billion.
Eaton is a global technology leader in electrical components andsystems for power quality, distribution and control; hydraulics components,systems and services for industrial and mobile equipment; aerospace fuel,hydraulics and pneumatic systems for commercial and military use; and truck andautomotive drivetrain and powertrain systems for performance, fuel economy andsafety. Eaton has approximately 75,000 employees and sells products to customersin more than 150 countries. For more information, visit Eaton CorporationKelly Jasko, Copyright Business Wire 2009. MEXICO CITY (Reuters) - Mexican homebuilder Geo (GEOB.MX) said on Wednesday it plans to restructure up to 70 percent of its total debt this year as it sticks to solid growth plans by selling houses for low-income buyers. MexicoChairman and Chief Executive Luis Orvananos told the Reuters Latin American Investment Summit in Mexico City that his company plans to build around 60,000 new houses in 2009.(Reporting by Gabriela Lopez, Noel Randewich, Cyntia Barrera and Tomas Sarmiento; Editing by Richard Chang) Mexico. Reuters has stopped distributing the full text of Moody'sInvestors Service press releases on ratings actions, effectiveApril 1, 2009.
The text of this Moody's Investor Service ratingis available at Stocks | Bonds Stocks Bonds. New Molecular Tests and Increased Case Volume Continue to Drive Revenue GrowthALISO VIEJO, Calif., May 6 /PRNewswire-FirstCall/ -- Clarient, Inc. (Nasdaq:CLRT), a premier anatomic pathology and molecular testing services resourcefor pathologists, oncologists and the pharmaceutical industry, today reported$22.4 million in revenue for the three months ended March 31, 2009, a 41%increase as compared with $15.9 million for the same period of 2008, and anincrease from $21.9 million for the fourth quarter of 2008. Case volume in the first quarter increased to 31,765 cases, a 32% increasefrom the same period in 2008.The Company's customer base of oncology andpathology practices in the U.S. increased to more than 950 active clients atMarch 31, 2009, from 900 active clients at December 31, 2008."With our nineteenth consecutive quarter of revenue growth, and 56 newpathology clients within the quarter, we continue to demonstrate the strengthof our brand within the pathology community," said Ron Andrews, Clarient ViceChairman and Chief Executive Officer. "Our record of solid revenue growthcombined with our third consecutive quarter of operating profit and the newstrength of our balance sheet, places Clarient at an important inflectionpoint.
We are now extremely well positioned to take advantage of opportunitiesthat strengthen our menu in key cancers and expand our geographic reach. Thecapital market crisis has left many biotech companies with promising new testsand no way to raise the necessary capital to bring their discoveries tomarket. This has created an opportunity for Clarient to use its powerfulcommercial engine to facilitate commercialization of these new advanced tests.In executing this phase of our strategy, we will maintain a focus onprofitability by applying an investment discipline with a bias for accretivegrowth."The Company's operating income for the first quarter of 2009 was $0.8 millioncompared with an operating loss of $0.1 million for the same period of 2008.Clarient's net loss for the quarter was $0.8 million, or a loss of $0.01 pershare, versus a net loss of $0.9 million, or $0.01 loss per share, in thefirst quarter of 2008. In the current quarter, the Company benefited from a$1.5 million gain on discontinued operations from the satisfaction ofpost-closing conditions related to the divestiture of its instrument systemsbusiness in March of 2007.
Adjusted EBITDA (defined below) for the 2009 first quarter was $2.2 million,compared to adjusted EBITDA of $1.0 million in the first quarter of 2008.Operating expenses were $12.6 million for the first quarter of 2009, up 46%from $8.7 million in the same quarter of 2008.The increase in operatingexpenses was largely driven by an increase in the hiring of 14 salesrepresentatives, increased bad debt expense, higher stock compensationexpense, and legal and accounting expenses related to certain businessdevelopment activities.At March 31, 2009, the Company's cash and cash equivalents totaled $4.7million compared to $1.8 million at December 31, 2008. "With our new breast cancer test now on the market, a solid pipeline of newtests on the horizon, and growing relationships with the pathology community,pharma and academia, we believe Clarient is well positioned to fulfill ourvision of being the leading molecular pathology company in the industry. Ourmutual goal is to assist clinicians in their efforts to treat patients moreefficiently and effectively, through earlier and more complete diagnoses, andby providing pertinent molecular information to clinicians to take advantageof the growing number of targeted therapies."Conference CallClarient will hold a conference call to discuss first quarter 2009 results. The call will include a period for questions and answers.Date:Wednesday, May 6, 2009Time:5:00 p.m. Clarient is that resource, having created a state-of-the-art commercial cancerlaboratory providing the most advanced oncology testing and diagnosticservices available both onsite and over the web.The Company is alsodeveloping new, proprietary "companion" diagnostic markers for therapeutics inbreast, prostate, lung and colon cancers, and leukemia/lymphoma.Clarient isa Safeguard Scientifics, Inc partner company. Oak Investment PartnersOak Investment Partners is a multi-stage venture capital firm with a total of$8.4 billion in committed capital.