Stocks in the News: PureSpectrum, Inc. (PINKSHEETS: PSPM), EXFO
Electro-Optical Engineering Inc. (NASDAQ: EXFO), Universal Detection
Technology (OTC BB:UDTT), ESCO Technologies Inc. (NYSE: ESE)
     Jul 23, 2008 -- PureSpectrum, Inc. (PINKSHEETS: PSPM) has confirmed
through independent testing that the company's proprietary dimmable
ballast technology for Compact Fluorescent Light (CFL) bulbs rates
extremely high in a critical performance area called Power Factor.
Power Factor is a complicated mathematical formula which measures power
quality that is currently unfamiliar to most people, but the
ramifications of this ratio will soon become a high priority in every
household in the United States. A perfect Power Factor rating is 1.0,
and PureSpectrum's dimmable CFL ballast technology rated .974 in
independent testing performed at a NVLAP-certified facility at the
request of multiple prospective licensing partners. "There is no
reliable data to represent the final impact that Power Factor will have
on the fluorescent lighting market, but it will certainly be a
competitive advantage for any manufacturer to be able to offer a CFL
product with high Power Factor," said PureSpectrum president and CEO
Lee Vanatta. "We recognize that Power Factor is going to be
tremendously important part of the equation for the lighting industry
as lighting manufacturers and utility companies begin to digest the
scope of the transition that is about to occur. Our research has made
us aware the widespread use of low Power Factor CFL bulbs during the
next few years will damage power quality and result in expensive
corrective procedures for the utility companies and that expense will
be passed on to the consumer. We have seen one study that estimated the
cost of power factor correction to be as much as $4 for every 20-watt
CFL that is installed." Through exhaustive market research during the
development of its technology, PureSpectrum identified performance
areas for CFL bulbs which would need to be addressed by manufacturers
in order to accelerate the widespread consumer adoption of CFL bulbs.
Additionally, according to Vanatta, the company's advance technology
engineered ballast technology that would also address inevitable
criticisms such as low power factor.
     Jul 23, 2008 -- EXFO Electro-Optical Engineering Inc. (NASDAQ: EXFO)
announced today the launch of the FTB-8525 and FTB-8535 Packet Blazer
modules, providing comprehensive testing capabilities for Fibre Channel
network deployments. The FTB-8525/8535 modules also support an optional
test suite for complete performance validation of Ethernet services.
Housed inside the well-established FTB-200 Compact Platform, these
multi-service modules offer fully integrated datacom testing in the
industry's smallest form factor, providing 1 Gbit/s, 2 Gbit/s, 4 Gbit/s
and 10 Gbit/s full-line-rate Fibre Channel traffic generation and
analysis. Key performance tests include bit-error rate (BER) testing,
round-trip latency measurement and buffer-to-buffer credit estimation.
These modules also combine complete Ethernet service performance
validation through RFC2544 and BER testing, and LAN/WAN Ethernet
testing capabilities from 10 Mbit/s to 10 Gbit/s. As with all other
Packet Blazer modules, the FTB-8525 and FTB-8535 modules are fully
compatible with the FTB-400 Universal Test System and can be combined
with other optical, transport or datacom modules for a solution
tailored to unique testing requirements. "Storage area networks (SANs)
continue to expand over ever-increasing distances, supporting
mission-critical applications including data storage and retrieval as
well as data archiving for disaster recovery implementations," said
Etienne Gagnon, EXFO's Vice-President Product Management and Marketing.
"Fibre Channel has proven to be a reliable technology for efficient
data transmission, while carrier Ethernet drives cost-efficiencies
throughout the network. But both technologies have stringent
performance requirements that must be tested at each network deployment
phase to ensure appropriate service levels. The FTB-8525/8535 Packet
Blazer modules are yet another demonstration of EXFO's continued
dedication to equipping network operators worldwide with the right
combination of tools to simplify test and measurement processes that
are essential in today's multi-service environments."
     Jul 23, 2008 -- Universal Detection Technology (OTC BB:UDTT), a
developer of early-warning monitoring technologies to protect people
from bioterrorism and other infectious health threats and provider of
counter-terrorism consulting and training services, reported today that
it has received an additional contract to provide bioterrorism training
equipment for the 2008 Beijing Olympics. The equipment is designed to
mimic a real-time biological attack thus preparing first responders in
the proper use and handling of bioterrorism detection equipment. UDTT's
simulation/trainer equipment and threat simulation powders are designed
to mimic a bio-threat event that illustrates all potential outcomes of
the 5-agent test device. UDTT had previously received a contract to
supply 5-agent test equipment for the Beijing Olympics. The 5-agent
testing kit is designed to test for Anthrax, Ricin, Botulinum Toxin,
Plague and SEB's in as little as 3 minutes. "The contract for the
bioterrorism training equipment completes the series of contracts we
received providing anti-terror equipment for the Beijing Olympics that
included radiological and bio-weapon detection equipment," said Mr.
Jacques Tizabi, UDTT's Chief Executive Officer.
     Jul 23, 2008 -- ESCO Technologies Inc. (NYSE: ESE) today announced that
the City of New York's Department of Environmental Protection (DEP) has
selected and formally contracted with ESCO's Aclara RF Systems Inc. to
provide its "Citywide Advanced Metering Infrastructure Program" (AMI)
solution for the city's entire water service territory. The total value
of purchase orders anticipated to be issued under this contract is
approximately $68.3 million and the system is expected to be deployed
over a three-year period with the initial orders expected later this
month. This contract will allow the City of New York to automate its
meter reading capabilities and to improve customer service for its
approximately 875,000 metered endpoints serving nearly eight million
customers, representing the largest municipal water utility in North
America. The City of New York is purchasing the industry's most
advanced fixed network water meter modules, utilizing Aclara's STAR
Network system to collect interval data for current billing needs and
to support other programs that are designed to allow the city and its
customers to better manage water consumption, identify leaks and
equipment problems, and effectively control other related operating
costs. The STAR Network AMI system also will provide New York City's
water customers with enhanced account information and accurate usage
data. Gary Moore, President of Aclara RF Systems, commented, "Aclara
appreciates the opportunity to work with the City of New York and
implement a seamless solution that provides additional benefits to the
City with the STAR Network AMI system." Vic Richey, ESCO's Chairman and
Chief Executive Officer, commented, "I am very proud that we have been
selected by the City of New York for this significant contract with
such a valued customer. The technology piloting process and the
performance criteria established by New York were very rigorous and
well planned. I'm happy to say that our industry leading STAR Network
system performed exceptionally well and successfully met the high
standards of read reliability in a very challenging environment."
     Market Wrap for July 23rd, 2008
     Wednesday marked an active session for Wall Street, with 110 companies
releasing their quarterly results, including four Dow components. In
addition, the government announced its weekly energy statistics and the
Fed released its Beige Book. The stock market settled with a modest
gain of 0.4% in volatile and heavy trade. The advance was aided by a
steep drop in crude prices and several better-than-expected earnings
reports. The Nasdaq outperformed its counterparts thanks to strength in
large-cap tech names.
     Defensive investments, such as the utilities sector (-2.3%),
underperformed, while beaten-down areas saw a surge in buying interest,
as investors showed more willingness to take on risk. Consumer
discretionary stocks rose 2.0%, with homebuilders climbing 4.0%.
Automakers rose 3% after General Motors (GM 14.60, +0.28) forecast a
2.5% increase in global 2008 auto sales, as strong emerging market
demand offsets weakness in North America. Meanwhile, retailers advanced
(+2.4%) after crude prices took a tumble. Oil prices fell 3.1% to
$124.48 per barrel, marking its lowest level in more than six weeks.
Crude inventory levels fell by a larger-than-expected amount, but an
increase in gasoline stockpiles raised concerns of demand destruction.
The drop in oil prices weighed heavily on the energy sector (-3.8%),
but provided a huge lift to airline stocks (+8.5%). Commodities as a
whole fell 1.7%, with gold shedding 3.1% as the dollar rose 0.5%. As a
result, the materials sector (-1.7%) underperformed. The financial
sector was once again in focus after Washington Mutual (WM 4.65, -1.17)
reported a larger-than-expected second quarter loss of $3.3 billion.
The sector managed to gain as much as 4.6% on news that lawmakers
reached a deal on a housing bill that, among other things, will allow
for financial aid to Fannie Mae (FNM 15.00, +1.59) and Freddie Mac (FRE
10.80, +1.10) if need be. Financials slipped off their best levels, to
settle the day with a gain of 1.9%, after WaMu reversed into the red on
concerns that it will have to raise more capital. The financial sector
is up 34% since July 15, but is still down 23% this year. The Fed's
Beige Book, a collection of anecdotal economic information, prompted a
brief drop in stocks, but the market quickly recovered from the
knee-jerk reaction as much of the information was already known. The
report stated that the economy has "slowed somewhat" since the previous
report, and that there were increased price pressures. In addition,
consumer spending was "mixed, weak or slowing" in nearly all districts.
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