Industry Veteran Brings Nuclear Gauge, Product Quality and Vision System Experience to New Role

ANN ARBOR, Mich., March 9, 2010 /PRNewswire via COMTEX News Network/ — Advanced Photonix, Inc. (R) (NYSE Amex: API) announced today that it has hired John J. Riccardi, who has more than 25 years of national and international experience in capital equipment technology sales, for the new position of National Sales Account Manager for its Terahertz product platform, effective March 1, 2010.

Most recently Mr. Riccardi has been Director of Global Business Development and North American Sales Director for ISRA Vision AG, a euro 60 million global machine vision technology company based in Germany. Prior to that he was Manager, Global Business Development at NDC Infrared Engineering, a $60 million global operating unit of Spectris PLC, London, which specializes in physics-based, online sensors used to manufacture hygienic and medical non-wovens, plastics, packaging, pharmaceuticals and foods. Between 1998 and 2005, Mr. Riccardi held a variety of management, business development and product development marketing positions at Cognex Corporation in their Surface Inspection Systems Division. He also spent 15 years in a variety of sales and management positions in the Industrial Systems Division of Measurex Corporation.

"John is a highly experienced and effective business development and sales manager with a proven track record of national and international accomplishments," commented Richard (Rick) Kurtz, API’s CEO. "We are eager to utilize his expertise by tapping into his knowledge of our markets. With his experience in the nuclear gauge industry, where Measurex is now the market leader (acquired by Honeywell), as well as his significant background in quality control and his vast understanding of the use of vision systems to find defects in the surface of products that are optical in nature, we know that his ability to strategize new opportunities for the Company will be a valuable asset as we move forward to expand our Terahertz product platform."

"Advanced Photonix has an outstanding reputation in the industry," commented Mr. Riccardi. "I look forward to driving the sales initiative for the Terahertz product platform, leveraging its reach in its current marketplace, expanding the platform’s visibility, and developing new markets for the high-quality, high-performance products."

About Advanced Photonix, Inc.
Advanced Photonix, Inc. (R) (NYSE Amex: API) is a leading supplier with a broad offering of optoelectronic products to a global customer base. We provide optoelectronic solutions, high-speed optical receivers and terahertz instrumentation for telecom, homeland security, military, medical and industrial markets. With our patented technology and state-of-the-art manufacturing we offer industry leading performance, exceptional quality, and high value added products to our OEM customer base. For more information visit us on the web at www.advancedphotonix.com.

ANN ARBOR, Mich., March 11 /PRNewswire-FirstCall/ — Tecumseh Products Company (Nasdaq – TECUA, TECUB), a leading global manufacturer of compressors and related products, today reported a net loss of $30.5 million, or $1.65 per diluted share, for the fourth quarter of 2009, compared with a net loss of $63.3 million, or $3.43 per diluted share, in the same period in 2008. 

The fourth quarter net loss from continuing operations was $26.8 million, or $1.45 per diluted share, which compares with a net loss from continuing operations of $43.5 million, or $2.35 per diluted share, in the same period in 2008.

The operating loss in the fourth quarter was $20.5 million, which included $13.8 million in impairments, restructuring charges and other items.  The operating loss in the fourth quarter of 2008 was $48.1 million, which included impairments, restructuring charges and other items totaling $23.7 million. 

Gross profit (net sales less cost of sales and operating expenses) in the quarter was $23.2 million, or 11 percent of sales, compared with $5 million, or 3 percent of sales, a year ago. For the quarter, net sales were $209.6 million, up 24 percent from $169.3 million in the same period in 2008.   The cost of sales and operating expenses were $186.4 million for the quarter, compared with $164.3 million in the same period in 2008.  

"Our strategy of focusing on customers, product innovation and making Tecumseh leaner and more efficient at every level is leading to improved performance in a very difficult market," said company President James Wainright.  "We are encouraged that the year-over-year sales decline in the last half of 2009 was less dramatic then we saw in the first half.  Nevertheless, we will continue to focus on cash and capital preservation, cost reductions and operating improvements."

Prior-year results have been restated to reflect the reclassification of the company’s Paris, Tenn. operations from discontinued operations to continuing operations.  In 2008, this change decreased the net loss from continuing operations by $1.9 million, or 10 cents per share.  The impact in the fourth quarter was not significant.

Full-Year Results

In 2009, net sales were $735.9 million, compared with $996.4 million in 2008.  Excluding the impact of currency translation, net sales during the first half of 2009 across all product lines were approximately 26 percent lower than during the first half of 2008, and volumes during the second half of 2009 were approximately 14 percent lower than the second half of 2008. 

For the full year 2009, the company reported a net loss of $93.4 million, or $5.06 per diluted share, compared with a net loss of $50.5 million, or $2.73 per diluted share, in 2008. 

The company’s net loss from continuing operations was $91.8 million in 2009, or $4.97 per diluted share, compared with $78 million, or $4.22 per diluted share, in 2008. 

Gross profit in 2009 was $55.7 million, down from $105.1 million in 2008.  Cost of sales and operating expenses was $680.2 million in 2009, compared with $891.3 million in 2008.  Volume declines reduced 2009 gross profit (including the effect of lower sales on fixed costs) by $60.4 million, compared to 2008. 

Current-year gross profit was also unfavorably impacted $34.1 million as a result of changes in sales mix.  Other raw material variances were also unfavorable by $0.6 million.  An unfavorable one-time cumulative catch-up depreciation expense of $3.5 million was recorded in 2009 as a result of the reclassification of our Paris, Tenn. facility. 

Also, favorable 2008 items did not recur in 2009, including a $4.2 million gain on the sale of an airplane and a $2.2 million favorable litigation settlement in 2008.   The company also recorded $6.1 million less in pension and other post-retirement benefit credits in 2009.  Productivity improvements of $30.5 million, favorable currency effects of $24.2 million and lower commodity costs of $11.3 million improved 2009 gross profit, compared with the same period in 2008.  The effect of all other income and expense items included in cost of sales was unfavorable to 2009 results by $4.3 million.

Selling and administrative expenses declined by $4.4 million in 2009 to $125.2 million, compared with 2008.  However, these expenses increased as a percentage of revenue, primarily due to lower sales volume.  Over the course of the year, costs for recurring professional fees and professional fees outside the ordinary course of business declined by $4.5 million, and payroll, benefits and other employee-related expenses declined by $8.3 million. 

A reversal of an accrual for environmental expenses and a favorable change in estimate in 2008 totaling $3.6 million did not recur in 2009.  All other selling and administrative expenses increased by $4.8 million.

The company recorded impairments, restructuring and other charges of $24.4 million in 2009, mostly for employee severance, restructuring costs and special termination benefits, which was down from $43.8 million in 2008, which included a $20.0 million excise tax and $18.2 million of goodwill impairments.  

Cash and Liquidity

The company ended the year with cash and cash equivalents of $90.7 million, down from $113.1 million at the end of 2008. The availability of various credit facilities on Dec. 31, 2009, was $38.6 million, mostly at foreign subsidiaries.  Long-term debt was $8 million.  Cash provided by operations was $1.6 million in 2009, compared with $70.6 million in 2008. 

The company expects to receive non operating cash inflows in 2010, primarily from tax refunds in the United States and Brazil, and the reversion of the company’s hourly pension plan.  The increase in net cash for 2010 is expected to be approximately $35 million to $40 million from the pension plan reversion, and approximately $1.9 million from additional U.S. tax refunds.  The company expects to recover $29.2 million of refundable taxes in Brazil before the end of 2010, based upon the historical payment patterns of the Brazilian tax authority and the U.S. dollar-to-real exchange rate as of Dec. 31, 2009.  Capital expenditures in 2010 are projected to remain below $17 million, as the company prioritizes expenditures.

Conference Call

The company will broadcast its financial results conference call live over the Internet on Fri., March 12, 2010 at 11:00 a.m. Eastern. Webcast information can be found in the Investor Relations section of www.tecumseh.com.

About Tecumseh Products Company
Tecumseh Products Company is a full-line, independent global manufacturer of hermetically sealed compressors for residential and specialty air conditioning, household refrigerators and freezers, and commercial refrigeration applications, including air conditioning and refrigeration compressors, as well as condensing units, heat pumps and complete refrigeration systems.  Press releases and other investor information can be accessed via the Investor Relations section of Tecumseh Products Company’s Website at www.tecumseh.com.  

WATERTOWN, Mass., March 9, 2010 (GLOBE NEWSWIRE) — A123 Systems (Nasdaq:AONE), a developer and manufacturer of advanced Nanophosphate™ lithium ion batteries and battery systems, today announced financial results for the fourth quarter and full year ended December 31, 2009.

David Vieau, CEO of A123 Systems, said, "The fourth quarter capped off a record year for A123 Systems and our momentum is strong entering 2010. In recent months we signed new or expanded relationships with Fisker Automotive and SAIC Motor in the passenger vehicle market, as well as Navistar in the heavy duty vehicle market. We also shipped battery systems to Southern California Edison Company (SCE) during the fourth quarter, and SCE and DTE energy won DOE awards for projects that were designed based on A123’s advanced lithium ion batteries."

Vieau added, "With our IPO proceeds in place and the closure of our DOE grant during the fourth quarter, we are investing aggressively in worldwide sales, R&D and manufacturing capacity. We recently announced a 120 megawatt-hour capacity expansion to our Livonia, Michigan facility. We are today announcing a further capacity increase of 200 megawatt-hours, which is expected to increase A123’s final cell manufacturing capacity to approximately 560 megawatt-hours when the new capacity moves into production. Demand is strong across our expanded portfolio of customers, and 2010 will be a year of focus on execution and establishing the foundation to support significant growth in 2011 and 2012 as customer programs are expected to move into full scale production."

Financial Highlights

Revenue: Total revenue for the fourth quarter of 2009 was $24.5 million, compared to $23.6 million for the fourth quarter of 2008. Within total revenue, product revenue was $19.9 million, compared to $21.4 million in the fourth quarter of 2008, and research and development services revenue was $4.7 million, compared to $2.3 million in the year ago period.

Total revenue for the year ended December 31, 2009, was $91.0 million, an increase of 33% compared to the year ended 2008. Product revenue for the year ended 2009 of $76.5 million increased 43% compared to the year ended 2008, and research and development services revenue of $14.5 million decreased from $15.0 million over the same time period.

Gross Profit/(Loss): Gross loss was ($48,000) in the fourth quarter of 2009, compared to ($8.5) million in the fourth quarter of 2008. For the year ended December 31, 2009, gross loss was ($2.7) million, compared to ($12.2) million for the full year 2008.  

Net Income/(Loss): Net loss attributable to A123 Systems common stockholders was ($22.3) million, or ($0.22) per share, based on 102.5 million weighted average common shares outstanding in the fourth quarter of 2009. This compared to a net loss attributable to A123 Systems common stockholders of ($28.5) million in the fourth quarter of 2008, or ($3.08) per share based on 9.2 million weighted average common shares outstanding.

For the year ended December 31, 2009, net loss attributable to A123 Systems common stockholders was ($85.8) million, or ($2.55) per share based on 33.7 million weighted average common shares outstanding. This compares to a net loss attributable to A123 Systems common stockholders of ($80.5) million for the full year 2008, or ($9.04) based on 8.9 million weighted average common shares outstanding.

Adjusted EBITDA: Adjusted EBITDA, a non-GAAP financial measure, was ($17.4) million in the fourth quarter of 2009, compared to ($25.3) million in the fourth quarter of 2008. For the year ended December 31, 2009, Adjusted EBITDA was ($63.7) million, compared to ($66.9) million for the full year 2008.

A reconciliation of GAAP to non-GAAP results has been provided in the financial statement tables included at the end of this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."

Cash: A123 Systems had cash and cash equivalents of $457 million at December 31, 2009, a decrease from $494 million at the end of the prior quarter.

Other Fourth Quarter and Full Year Business Metrics

Revenue Mix: During the fourth quarter of 2009, transportation revenue was $11.3 million, electric grid revenue was $4.8 million and consumer revenue was $3.8 million, compared to a revenue mix of $7.6 million, $2.9 million and $10.9 million, respectively, in the fourth quarter of 2008.

For the full year 2009, transportation revenue grew 359% to $45.3 million, electric grid revenue grew 282% to $11.1 million and consumer revenue decreased 51% to $20.1 million, each compared to the full year 2008.

Product shipments: During the fourth quarter of 2009, A123 Systems recorded product shipments equivalent to 21.7 million watt hours, compared to 13.3 million in the year ago quarter. For the full year 2009, product shipments were equivalent to 66.5 million watt hours, compared to 44.9 million for the full year 2008.

About A123 Systems

A123 Systems, Inc. (Nasdaq:AONE) develops and manufactures advanced lithium ion batteries and battery systems for the transportation, electric grid services and consumer markets. Headquartered in Massachusetts and founded in 2001, A123 Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology. Among the companies selecting A123 batteries, battery systems and technology in the fields of transportation, grid energy storage and consumer products are AES Energy Storage, LLC, BAE Systems, The Black & Decker Corporation, BMW, Daimler, Delphi, Fisker Automotive, and Shanghai Automotive Industry Corporation. For additional information please visit www.a123systems.com.

Ann Arbor, MICH. – March 8, 2010 – HealthMedia®, a Johnson & Johnson company and part of the Wellness & Prevention business, announced that Bill Needham is its new Vice President of Product Development. HealthMedia, Inc. is the pioneer in combining advanced technology and behavioral science to deliver web-based Digital Health Coaching programs to health plans and employers.

Needham will provide overall leadership, strategy, and direction to HealthMedia’s Product Development organization and Information Technology platform. He will also be responsible for ensuring the successful evaluation, development, and delivery of the HealthMedia digital coaching application.

“Bill brings more than two decades of experience in information technology, leadership, and strategic product development to HealthMedia,” said Calvin Schmidt, President, Wellness & Prevention, Inc. “His invaluable expertise will help us continue to explore innovative product solutions to meet customer demands.”

Most recently, Bill served as Vice President of Application Development for the Healthcare division of Thomson Reuters, leading teams that delivered high-availability clinical and management decision support solutions for the health care provider market.

Prior to this, he spent seven years at Braun Consulting (now part of Fair Isaac), where he launched and led its eBusiness consulting practice which focused on helping health care organizations better understand and serve their customers.

About HealthMedia, Inc.
HealthMedia, Inc., a Johnson & Johnson company and part of the Wellness & Prevention business, is a leading innovator in combining advanced technology and behavioral science to effectively deliver digital health coaching interventions via the web. The company applies its HealthMedia® Fusion™ technology to address the most problematic pain points facing the health industry today: participation, scalability, cost, efficacy, individual ownership, and return on investment. HealthMedia’s suite of interventions provides automated web-based coaching for wellness, disease management, behavioral health, and medication adherence. HealthMedia digital health coaching programs deliver proven outcomes, increased compliance, reduced medical utilization, and increased productivity – boosting profitability for health plans, employers, pharmaceutical companies, and behavioral health organizations. Clients include Kaiser Permanente, Daiichi Sankyo, Fresh & Easy Neighborhood Market, Inc., Community First Health Plans, and nine Blue Cross Blue Shield organizations across the United States. HealthMedia partners include APS Healthcare, LifeSynch, SHPS, and StayWell Custom Communications, LLC. For more information, visit www.healthmedia.com.

Written by Amanda Ferrante – Thursday, 04 March 2010 12:30

Although social media has been a hot button for retailers, it seems that 2010 is the year for social commerce to materialize. In an effort to better understand consumer perception and social media habits, ForeSee Results conducted a research study of nearly 10,000 visitors to the most popular U.S. e-tail sites.

“Everyone is talking about social media, and there are lots of opinions about how to do it right,” said Kevin Ertell, VP of Retail Strategy, ForeSee Results and author of the report. “We thought it was important to check in with customers to get their thoughts.” The survey aimed to answer questions like: How do they interact with retailers via social media? How would they prefer to interact? What value are they seeking from their interactions with retailers via social media?

The study found that social media could be validated as a viable marketing strategy when retailers understand what consumers want. ForeSee Results used the methodology of the American Customer Satisfaction Index (ACSI) to examine these issues. The ACSI is able to show how different elements of a shopper’s interactions with a company (including on social media) impact their purchase intent, loyalty and recommendations, according to the report.

Key findings include:

•  56% of shoppers to top e-tail Web sites who interact with social media websites have elected to “friend” or “follow” or “subscribe” to a retailer on a social networking site like Facebook, Twitter, and YouTube.

•  Facebook is, by far, the best place to reach shoppers — both because it’s where they already are, and it’s where they want to hear from retailers.

•  Customers mainly interact with retailers on social media sites to learn about products and promotions.

Of the 69% of online shoppers who say they use social media sites, more than half (56%) choose to proactively interact with companies on social sites by “friending” or “following” at least one retailer. “This is an amazing testament to customer loyalty and interest in social engagement,” Ertell said in the report. “Shoppers are actually choosing to engage in relationships with retailers on social sites.”

The report stresses Facebook as prime real estate for customer engagement. More than half of all online shoppers surveyed frequent Facebook. Among online shoppers who engage in social media, more than 80% are using Facebook.

But the report found that about 25% of the Top 100 online retailers (by sales volume) do not have any formal Facebook presence. Another 25% of the retailers from that list have fewer than 10,000 fans.

How “Fans” Fare
Although “engagement” is the broad term used most to describe the opportunity for retailers on Facebook, the study found that more people use social networking with retailers to learn about sales and product information. 49% of respondents who “friend” or “follow” companies through social media do so to find out about special deals options. 45% of respondents use social media to learn about products. While more retailers employ social media to answer customers’ technical questions, the study found that only 5% of respondents use social media primarily for customer support.

In the report, Ertell advises retailers to find out more about their customers and what they are looking for from you. “Find out how satisfied they are with your current social media efforts and how likely they are to purchase, return and recommend your business as a result of your interactions,” he said in the report. “There’s a lot about social media and online marketing initiatives that is really hard to figure out, but asking customers what they want from you is a great way to begin.”

Click here to download “The Key to Driving Retail Success With Social Media.”

March 6, 2010 – WeWearYou.com, an Ann Arbor start-up wants to wear your company on their backs — literally.

Christopher Boll and Brian Hurd, two Juniors at the University of Michigan, recently launched WeWearYou.com, an advertising and marketing agency built upon “t-shirt” advertising. The company outfits students with shirts bearing a client’s logo and they continue their day, wearing the shirts wherever they go. 

In addition, the client receives exposure via Facebook, Twitter, flyering, and numerous other avenues. Interested businesses simply pick a given number of calendar days and send in their design.

In less than a month, WeWearYou.com has already had over 2,000 unique visits to its website.  This led the Ann Arbor T-Shirt Company, a full service t-shirt printing studio, to forge a partnership with the young entrepreneurs. At about $100 per day, WeWearYou offers effective advertising priced well below other forms of marketing.

“We realized a glaring vacancy in the world of traditional advertising, the absence of mobility and exposure”, said Christopher Boll.  “Stationary ads such as billboards, web, and print ads remain stagnant in the mobile world we live in today. WeWearYou recognizes this reality and redefines how businesses broadcast their services”.

The site can be accessed at www.WeWearYou.com or contacted at: Contact@Wewearyou.com

SALINE, MI (March 5, 2010) – DesignHub, Inc. (www.design-hub.com), a Saline-based creative services and marketing firm, has designed and produced the 2010 Wholesale Gift Tile Catalog for Motawi Tileworks (www.motawi.com) of Ann Arbor.

The 2010 catalog updates previous editions, also produced by DesignHub, with a refreshed design and details on new decorative tiles from Motawi Tileworks.

The catalog spotlights tiles based on the designs of artist Yoshiko Yamamoto, whose works fuse Japanese design sensibility with fine craftsmanship.

Also featured are architecturally inspired tiles. These include the exclusive Frank Lloyd Wright Collection® (www.motawi.com/FLW) and a tile inspired by the iconic front door of the Gamble House (www.gamblehouse.org), by Greene and Greene, in Pasadena, CA.

Nature-themed pieces include Motawi’s Pine Landscape tiles drawing upon the works of artists Addison LeBoutillier and Grueby Faience of Boston from a century ago.

There are also art tiles with holiday themes. Options for wood framing and gift packaging are shown in the catalog. Clocks and pendant jewelry built around Motawi tiles are highlighted.

The full-color, 20-page, 8-1/2” x 11” catalog depicts over 150 of Motawi’s most popular handmade art tiles available for resale. The catalog includes notes on displaying Motawi tile, whether framed, hung on walls, or on stands.

The catalog’s design complements the Arts and Crafts aesthetic of the tiles themselves, whose designs are influenced by early 20th Century decorative artists such as Mary Chase Stratton, Adelaide Robineau, Louis Sullivan, C. F. Voysey, William DeMorgan, and Dard Hunter.

Motawi’s handcrafted tile is found in homes and public places nationwide. It is made by Nawal Motawi and her staff of artisans in the company’s Ann Arbor studio. The Motawi team uses locally produced clay and glazes mixed onsite to the company’s own recipes.

Motawi Tileworks was founded in 1992. It today employs 25 people.

More information on Motawi Tileworks is available from the company at 170 Enterprise Dr., Ann Arbor, MI 48103. Phone: 734/213-0017. Email: info@motawi.com.

About DesignHub
DesignHub works with clients on website design and development, brand development, brochures, annual reports, newsletters, advertising, public relations, direct marketing, packaging designs, signage, and exhibits, as well as marketing strategies and plans. The company was founded in 1999.

Principals of DesignHub include: Karen Ragland, business manager and account executive; Ted Chesky, creative director and graphic designer; and Chris Kochmanski, marketing strategist, account executive, and copywriter. The firm has on-staff and freelance professionals for graphic design and Web site design and development.

ANN ARBOR, Mich., March 3, 2010 /PRNewswire via COMTEX/ — Having recently delivered to needy children across the nation more than 900,000 new books collected during its winter book drive, Borders has launched its company wide, community-based spring book drive that will last through April 6. Staff at more than 700 Borders(R) and Waldenbooks(R) stores nationwide are encouraging customers to open their hearts and give the gift of new books to children within their communities. Customers can also donate Borders’ own Easter-themed "Pickles the Bunny," an adorable grey and white plush toy rabbit. All books and bunnies will be directly donated to non-profit organizations chosen by each store.

"Borders customers have shown tremendous generosity even when many are tightening their belts during these difficult economic times," said Larry Norton, Senior Vice President of Merchandising-Adult Trade, Children’s and Bargain. "We had an outstanding winter book drive in which we teamed with customers and hundreds of charities nationwide to collect more than 900,000 books for children. That outpouring of generosity is a huge testament to our and our customers’ desire to promote literacy in local communities. We are excited about our spring book drive and hope to once again deliver a generous number of books to children in need across the nation."

A number of non-profit organizations have directly benefited from Borders’ book drives over the years including UC Davis Children’s Hospital, Ronald McDonald House Charities, Rock for Reading, Starlight Children’s Foundation, the Make-A-Wish Foundation, Reach Out and Read Michigan, Boys Town, Shriners Hospital for Children, Wednesday’s Child and many others.

"Words cannot begin to express our enormous gratitude and sincere appreciation to Borders and your amazing customers," said Pat Lockerd of Wednesday’s Child, a north Texas non-profit that partnered with an area Borders store on its winter book drive. "The gift of a book to a child is a gift of hope and dreams. While every child deserves a new book to call his or her own, a new book for a child in foster care is invaluable. It improves reading skills, is a source of ownership and pride, and most importantly, it provides a chance to escape into their imagination and dream of good things to come. Your customers provided a perfect blend of books for all ages — from the very youngest to our teens!"

Whether searching for a beloved classic from their childhood or discovering a new author or illustrator, customers will enjoy browsing Borders and Waldenbooks stores’ selection of thousands of titles. The retailer expects some of the most popular books donated to include "Where the Wild Things Are," "Ramona the Pest," "Fancy Nancy: Pajama Day," "The Poky Little Puppy" and "Magic Tree House" titles. Customers can choose to donate these titles or they can donate their favorite age-appropriate children’s book.

Customers may contact their local Borders or Waldenbooks store to learn more about the spring book drive. To find a store, go to the store locator tab on Borders.com.

About Borders Group, Inc.
Headquartered in Ann Arbor, Mich., Borders Group, Inc. (NYSE: BGP) is a leading specialty retailer of books as well as other educational and entertainment items. The company employs approximately 19,500 throughout the U.S., primarily in its Borders(R) and Waldenbooks(R) stores. Online shopping is offered through borders.com. Find author interviews and vibrant discussions of the products we and our customers are passionate about online at facebook.com/borders, twitter.com/borders and youtube.com/bordersmedia. For more information about the company, visit borders.com/media.

ANN ARBOR, Mich., March 2 /PRNewswire/ — Tecumseh Products Company (Nasdaq: TECUA, TECUB) announced today that it will release its 2009 fourth quarter and full-year financial results after the market close on Tues., March 9, 2010. The company will broadcast its financial results conference call live over the Internet on Wed., March 10, 2010 at 11:00 a.m. Eastern.

Those who wish to listen to this conference call should visit the Investor Relations section of the Company’s web site at http://tecumseh.investorroom.com/ at least ten minutes prior to the event. Please follow the instructions provided to assure that the necessary audio applications are downloaded and installed. These programs can be obtained at no charge to the user.

Tecumseh Products Company is a full-line independent global manufacturer of hermetically sealed compressors for residential and commercial refrigerators, freezers, water coolers, dehumidifiers, window air conditioning units and residential and commercial central system air conditioners and heat pumps.

Press releases and other investor information can be accessed via the Investor Relations section of Tecumseh Products Company’s Internet web site at http://tecumseh.investorroom.com/

About Tecumseh Products Company
Tecumseh Products Company is a full-line independent global manufacturer of hermetically sealed compressors for residential and commercial refrigerators, freezers, water coolers, dehumidifiers, window air conditioning units and residential and commercial central system air conditioners and heat pumps. Press releases and other investor information can be accessed via the Investor Relations section of Tecumseh Products Company’s website at www.tecumseh.com.

Osaka, Japan, Atlanta, GA and Ann Arbor, MI— Shionogi & Co., Ltd. and QuatRx Pharmaceuticals Company, a privately-held pharmaceutical company, today announced that they have entered into a worldwide license agreement to develop and market ospemifene, a selective estrogen receptor modulator (“SERM”).
Under the terms of this agreement, Shionogi will have worldwide marketing rights to ospemifene. QuatRx will receive an up-front payment of $25 million and is eligible to receive in excess of $100 million in development and regulatory milestone payments. QuatRx will also be eligible to receive additional payments for approval of ospemifene outside the US as well as sales milestones and royalties on product sales. A New Drug Application (“NDA”) with the FDA is planned to be filed in 2010 for ospemifene for the treatment of post-menopausal vulvovaginal atrophy (“VVA”), utilizing the Phase 3 clinical trials that were conducted by QuatRx.

Patrick Fourteau, President and CEO of Shionogi Pharma, Inc., a US-based group company of Shionogi, said, “All of us at Shionogi are excited about the potential of ospemifene and, upon FDA approval, we look forward to bringing the first non-estrogen treatment option to millions of women in the US who are living with post-menopausal vulvovaginal atrophy. Our efforts to market ospemifene represent an important step in our strategy to further diversify Shionogi Pharma’s Women’s Health portfolio and broaden the Company’s R&D pipeline.”

Ospemifene is a SERM designed to mimic the positive effects of estrogen on the vaginal epithelium while avoiding estrogen stimulation of breast and other tissues. In September 2009, QuatRx announced the results of a second pivotal Phase 3 study for ospemifene. The results showed highly statistically significant positive results in four co-primary endpoints (p=0.0001), including a decrease in percentage of parabasal cells and an increase in percentage of superficial cells from the vaginal smear, decrease in vaginal pH and improvement in the patient’s most bothersome moderate to severe symptom of dyspareunia. The first Phase 3 trial for ospemifene met all the co-primary endpoints at a 60 mg dosage, with statistically significant improvements in vaginal dryness and dyspareunia, as well as statistically significant improvement in the proportion of parabasal and superficial cells in the epithelium of vaginal walls and a decline in vaginal pH levels. Data from the long term safety studies demonstrated that daily doses of 60 mg of ospemifene are well-tolerated.

Robert L. Zerbe M.D., CEO and Co-Founder of QuatRx, said, “QuatRx is very pleased to have completed the comprehensive development program for ospemifene. Pending regulatory approval, the results of our clinical research for ospemifene indicate that this promising non-estrogen therapy could play a significant role in the treatment of vulvovaginal atrophy in the years ahead. Shionogi is the ideal company to successfully support the effort to commercialize ospemifene in the U.S. and around the world.”

About Post-menopausal Vaginal Atrophy

Post-menopausal vulvovaginal atrophy is a chronic and progressive condition characterized by symptoms including vaginal dryness, sexual pain (dyspareunia) and irritation. Declining estrogen levels during menopause can cause tissues of the vaginal lining to grow thinner and to lose elasticity, a condition known as atrophy. Dryness and irritation associated with reductions in vaginal secretions often cause pain or bleeding during sexual intercourse. It is estimated that 45-75 percent of postmenopausal women experience chronic symptoms of vaginal atrophy, and in most cases these symptoms are highly bothersome to patients. Current prescription treatments approved for this condition all contain estrogen, administered either systemically or locally in the vagina. SERMs that are currently approved and marketed in the United States have not been shown to have beneficial effects on vaginal tissue and none are approved for use in treating vaginal atrophy symptoms.

About Shionogi & Co., Ltd.

Headquartered in Osaka, Japan, Shionogi & Co., Ltd. is a major research-driven pharmaceutical company dedicated to placing the highest value on patients. Shionogi’s Research and Development currently targets three therapeutic areas: Infectious Diseases, Pain, and Metabolic Syndrome. The Company has provided such innovative medicines as Crestor and Doripenem, which have been successfully delivered to millions of patients. In addition, Shionogi is engaged in new research areas such as allergy and cancer. Contributing to the health of patients around the world through development in these therapeutic areas is Shionogi’s primary goal. For more details, please visit www.shionogi.co.jp. For more information on Shionogi Pharma, Inc. based in Atlanta, Georgia, please visit www.shionogipharma.com.

About QuatRx

QuatRx Pharmaceuticals is focused on the discovery, licensing, development and commercialization of compounds in the endocrine, metabolic and cardiovascular therapeutic areas. In addition to ospemifene, QuatRx has three other product candidates in clinical development and a preclinical program. Fispemifene is a new selective estrogen receptor antagonist that is in Phase 2 studies as an oral treatment for the symptoms of secondary hypogonadism in men. Sobetirome, a novel, selective thyroid receptor beta agonist, is in Phase 1 as a potential treatment for dyslipidemia. Becocalcidiol, a novel Vitamin D analogue, is in Phase 2 clinical studies for the treatment of psoriasis through QuatRx’s partner, Galderma. QuatRx’s preclinical program is designed to address sex steroid dependent diseases through inhibition of 17beta-HSD enzymes. In Europe, QuatRx operates through its Finnish subsidiary, Hormos Medical Ltd, located in Turku, Finland. For press releases and other Company information, please visit www.quatrx.com.