Fiscal Revenues improved by 37%
Fiscal EBITDA improved by $2.1 million

ANN ARBOR, Mich.–(BUSINESS WIRE)– Advanced Photonix, Inc.® (NYSE Amex: API) (the "Company") today reported its fourth quarter and year end fiscal 2011 results ending March 31, 2011.

Financial Highlights for the Fourth Quarter and Fiscal Year Ended March 31, 2011

Net Sales for the quarter were $7.8 million, an increase of $2.7 million or 52% from the fourth quarter ended March 31, 2010. Sequentially, revenues improved 1.2% compared to the $7.7 million for the third quarter of fiscal 2011.
Net sales for the fiscal year were $28.8 million, an increase of 37% over the prior year. The increase was broad based across the Company’s markets, led by the telecommunication, industrial, homeland security and medical markets.
Gross profit margin for Q4 2011 was 44% of sales compared to 46% for the quarter ended March 31, 2010. The decrease in gross profit margin percentage was due primarily to ramp up in expenses associated with new products.
Gross profit margin for the fiscal year 2011 was 43% or flat compared to the prior year.
Operating loss for the quarter was $208,000 as compared to an operating loss of $891,000 for the quarter ended March 31, 2010.
Operating loss for the fiscal year 2011 was $825,000 compared to an operating loss of $3.7 million for the prior year.
Quarterly net loss was $563,000 or $0.02 per diluted share, as compared to a quarterly net loss of $846,000, or $0.03 per diluted share for the quarter ended March 31, 2010.
Net loss for the fiscal year 2011 was $1.9 million or $0.07 per diluted share, as compared to $3.8 million, or $0.15 per diluted share, for the prior year period.
The Non-GAAP net income for the fourth quarter of fiscal 2011 was $221,000 or $0.01 per diluted share, as compared to a Non-GAAP net loss of $324,000, or $.01 per diluted share, for the fourth quarter of the previous year. The Company reported full-year Non-GAAP net income of $785,000, or $0.03 per diluted share, as compared to a Non-GAAP net loss of $1.4 million, or $0.06 per diluted share, for the comparable prior year period.
EBITDA (which is defined as GAAP earnings before interest, taxes, depreciation, and amortization), was a positive $430,000 for the fourth quarter of fiscal 2011 as compared to a negative EBITDA of $13,000 for the quarter ended March 31, 2010. For year to date, the Company reported positive EBITDA of $1.7 million as compared to a negative EBITDA of $325,000 for the comparable prior year period.

Operating Expenses

The Company’s total operating expenses for the quarter were $3.7 million, up 12% compared to the $3.3 million reported for the fourth quarter last year. As a percent of revenue, total operating expenses were 46.6% compared to 63.6% for the fourth quarter last year. For the year, total operating expenses were $13.2 million, or 45.7% of revenue, compared to $12.7 million, or 60.1% of revenue last year.

Balance Sheet

The Company completed the year with $5.2 million in cash compared to $2.3 million as of March 31, 2010. Working capital as of March 31, 2011 was $7.6 million and the Company reported a current ratio of 2.1 to 1.

Richard Kurtz, Chairman and Chief Executive Officer, commented, "We have had a very successful year and exceeded our original growth targets of 15% to 25%, by a wide margin. The comparative revenue growth of 52% for the fourth quarter is a validation that we made the correct decision by continuing to invest in our high growth platforms. This was particularly evidenced with our High Speed Optical Receiver product line which grew at 182% on a comparative quarterly basis. We positioned the company for growth during the downturn and are pleased with the success we have had in capturing market share and participating in the explosive growth of the 40G and 100G line-side market roll out. The capital raised earlier this year helped to de-leverage our balance sheet and provided funding to fuel our growth. The success of our various Terahertz application developments for industrial use is also a strong indication of our technology being embraced by various markets. We are looking forward to continuing our growth this coming year."

ANN ARBOR, MI – McKinley is pleased to announce that Shepherd Intelligent Systems signed a lease

ANN ARBOR, MI – McKinley is pleased to announce that Shepherd Intelligent Systems signed a lease to occupy 781 square feet at the offices in Liberty Square at the McKinley Towne Centre. Shepherd Intelligent Systems is leading the advancement of AVL technology and communications delivery for private and public fleets. Shepherd joins Barre Bee Fit and the University of Michigan’s Tech Arb at Liberty Square. www.shepherdis.com

“We are very excited to welcome Shepherd to the center of innovation in the State of Michigan.” Said Albert M. Berriz, CEO “Shepherd joins Tech-Arb as this location takes on a major importance in the start-up community linked to the University of Michigan.”

ANN ARBOR, Mich., June 14, 2011 /PRNewswire via COMTEX/ —

Domino’s Pizza (NYSE: DPZ), the recognized world leader in pizza delivery, today announced its Domino’s App for iPhone and iPod touch is now available on the App Store. The app gives users the ability to order from Domino’s with just a few taps of the screen.

The Domino’s App gives customers instant access to the full Domino’s menu, as well as local and national coupons. Users can also search for the closest Domino’s location, and can utilize the fan favorite Pizza Tracker to follow the stages of their order, from the oven to their door.

"We’re excited to unveil another convenient way customers can access the menu we’ve worked so hard to build and reinvent," said Russell Weiner, Domino’s Pizza chief marketing officer. "We’re confident that Domino’s is the best-tasting pizza you can order using your iPhone or iPod touch."

Domino’s incredible platform for online ordering averages nearly 25 percent of sales. Domino’s estimates it is one of the top ten e-commerce retailers when measured by number of transactions. Customers can order online at www.dominos.com.

"We are committed to making sure we’re connecting with our customers wherever they are, and now that means providing users with the convenience of ordering using their iPhone or iPod touch," said Chris McGlothlin, Domino’s Pizza chief information officer. "The Domino’s App engages customers who are looking for the easiest and most convenient ways to order online, and we’re excited to offer this new option."

The Domino’s App is available for free from the App Store on iPhone and iPod touch or at www.itunes.com/appstore.

About Domino’s Pizza®

Founded in 1960, Domino’s Pizza is the recognized world leader in pizza delivery. Domino’s is listed on the NYSE under the symbol "DPZ." As of the first quarter of 2011, through its primarily locally-owned and operated franchised system, Domino’s operated a network of 9,379 franchised and Company-owned stores in the United States and 70 international markets. During the first quarter of 2011, Domino’s had global retail sales of nearly $1.6 billion, comprised of nearly $815 million domestically and nearly $774 million internationally. Domino’s Pizza had global retail sales of over $6.2 billion in 2010, comprised of over $3.3 billion domestically and over $2.9 billion internationally.

In May 2011, Pizza Today named Domino’s its "Chain of the Year" for the second straight year – making the company a three-time overall winner, and the first pizza delivery company to receive the honor in back-to-back years. In 2011, Domino’s was ranked #1 in Forbes Magazine’s "Top 20 Franchises for the Money" list. Helped by the launch of its Domino’s Smart Slice school lunch pizza in late 2010, Domino’s is collaborating with the Alliance for a Healthier Generation to serve healthier school foods and beverages in the United States. In late 2009, Domino’s debuted its "Inspired New Pizza" – a permanent change to its hand-tossed product, reinvented from the crust up.

ANN ARBOR, MI (June 9, 2011)—Barr Engineering Co. has relocated its Ann Arbor office to 3005 Boardwalk Street, Suite 100. The company provides environmental and engineering services to utilities, manufacturing and mining clients, public-sector clients, and state and federal agencies. The new office’s phone number is (734) 922-4400.

According to Barr’s office coordinator, Jason Linkimer, the move will facilitate staff growth and enable the company to better assist clients in the region in meeting their project goals. He notes that the Ann Arbor office, which opened in 1996 with one employee, has grown to 25 engineers, scientists, and support personnel and plans continued expansion.

Barr is an employee-owned consulting company providing integrated engineering and environmental services to help clients develop, manage, and restore natural resources. Incorporated in 1966, the company has a staff of more than 500 engineers, scientists, and technical specialists and offices in Michigan, Minnesota, Missouri, North Dakota, and Alberta, Canada. For more information, visit the company’s website at www.barr.com.

Saline, MI (June 20, 2011) – DesignHub, Inc. (www.design-hub.com) of Saline has designed and developed the new website for Ann Arbor Tower Plaza Condominiums (www.towerplaza.com).

This 26-story residential property – Ann Arbor’s tallest building – is on E. William St., one block from the University of Michigan’s central campus.

Visitors to the new website learn how Tower Plaza provides students and their parents with private, quiet, comfortable, and secure student residences available for purchase. There are also Tower Plaza units for rent from their co-owners.

Parents who co-own at Tower Plaza can build equity and gain tax advantages while their student lives there. There are also opportunities for profitable resale or ongoing rental income. The advantages of ownership are detailed in the site.

Tower Plaza’s location, views, features, and amenities – also covered in the site – appeal to others besides students. Co-owners and tenants include retirees, second-home owners, academics, professional services providers, and more,

The site highlights Tower Plaza condos currently available for sale or rent. Site visitors can also view floor plans for the property’s studio, large studio, grand studio, one-bedroom, large one-bedroom, and grand one-bedroom units.

In the password-protected “Residents E-Clubhouse” area of the site, Tower Plaza co-owners and tenants find useful information including updates on current maintenance projects at the property and special offers and discounts available to residents. A directory of co-owners and tenants is under construction.

On the “Broker’s Corner” page, prospective Tower Plaza buyers get contact information for area realtors experienced in showing and selling the property’s units.

More information can be obtained from Ann Arbor Tower Plaza Condominium Association, 555 E. William St., Ann Arbor, MI 48104. Phone: (734) 531-2125.

About DesignHub

DesignHub, Inc. is a creative services and marketing firm that works with clients on website design and development, brand development, brochures, annual reports, newsletters, advertising, public relations, direct marketing, search marketing, social media marketing, packaging designs, signage, and exhibits, as well as marketing strategies and plans. The company was founded in 1999.

In addition to Ann Arbor Tower Plaza Condominiums, DesignHub’s clients include Advanced Photonix Inc., Berry & Associates, BioMedware, Center for Automotive Research (CAR), Chelsea-Area Wellness Foundation, Chelsea Lumber, Creative Windows, Daycroft Montessori School, Dexter Research, Dimensional Engineering, Electrocon International, Great Lakes Educational Group, Hardwood Solutions, Hemophilia Foundation of Michigan, HiBlow USA, Homeowner Services of America (HSA), InPore Technologies, Lamaze Family Center of Ann Arbor, Lenawee County Health Department, McMullen Properties, Metropolitan Building Services, Michigan Business Connection, Motawi Tileworks, National Employment Law Project, Newcomers Welcome Service, OptiMetrics Inc., PTC, Phoenix Contractors, Recycle Ann Arbor, Renewal Ministries, City of Saline, Saline Area Chamber of Commerce, Saline Parks and Recreation Department, SignGraphix, Sun Engineering, the University of Michigan School of Music, Theatre & Dance, and others.

Further information is available from DesignHub, Inc., 600 W. Michigan Ave., Saline, MI 48176. Phone: (734) 944-8705. Email: info@design-hub.com. Online: www.design-hub.com.

ANN ARBOR, Mich., 7 June 2011 – New Enterprise Forum will host a panel discussion on the specifics of building your first team. This discussion should help entrepreneurs better understand how to you find, recruit, and pay for the talent needed to help grow a start-up. The event takes place at 5:00 p.m. on Thursday, June 16, at the Holiday Inn on Plymouth Road in Ann Arbor.

The participants for this event include:

Bhushan Kulkarni – CEO, InfoReady Corporation and former CEO of GDI Infotech. Kulkarni resigned from GDI in March 2010 to lead the spinoff, a software start-up whose initial product helps users mine databases for government funding opportunities. InfoReady has since landed $1.1M in venture capital to fund sales and product expansion.

Ted Dacko – Founder and CEO of Arbor Dakota and previously CEO of HealthMedia® Inc. Arbor Dakota “helps early stage companies implement growth strategy which will in turn, enhance shareholder value.” The firm has “particular expertise with ‘Software as a Service’ (SaaS)…and helps companies with their growth acceleration strategies, strategic marketing plans, and sales discipline.”.

Adrian Fortino – CEO, Shepherd Intelligent Systems, which is commercializing the University of Michigan’s Magic Bus program. That software, tested by the Ann Arbor Transportation Authority earlier this year, allows system riders to follow bus progress on their smart phones. Adrian has an extensive background in engineering, operations, entrepreneurship, venture capital and private equity. He also volunteers at Ann Arbor Spark, helping area talent transition from corporate to entrepreneurial environments.

Our moderator will be Elliot Forsyth, Vice President and COO for talent enhancement at the Michigan Economic Development Corp. Forsyth was previously vice president of human resources and business services at Ann Arbor-based information technology company ProQuest. In his new position at MEDC, he oversees all work force development and adult education programs.

Showcase Presentation: Each month, NEF highlights emerging companies and provides them a Showcase Presentation. This month, our presenter will be Verdi Ergun of Own Point of Sale Corporation, which provides a web-based cash register that allows business owners to track sales by product, keep tabs on revenues, run reports, and more.

Business Introductions/Open Forum: The evening’s agenda includes Business Introductions/Open Forum, during which attendees have the opportunity to make a concise, 10-second pitch for themselves, their company, product/service, or need.

Meeting location: Holiday Inn, 3600 Plymouth Rd. in Ann Arbor. Registration and networking begin at 5:00 p.m. with the program starting at 5:45 p.m. Free to NEF members, the cost is $20 for non-members and $5 for students. The event is sponsored by NEF stakeholder sponsor, Brown & Brown (www.bbdetroit.com).

ABOUT NEF

Through its hands-on work with entrepreneurs, NEF has been planting the seeds for Michigan’s economic prosperity for over two decades. NEF serves Michigan entrepreneurs by linking them with management expertise, venture partners, business services, capital, and other critical resources. NEF also provides free coaching teams who assist entrepreneurs with investor presentations and business planning in preparation for fundraising meetings. For information, visit www.NewEnterpriseForum.org.

Saline, MI (June 13, 2011) – Hemophilia Foundation of Michigan (HFM) – the Ypsilanti-based non-profit organization dedicated to improving the quality of life for those with bleeding and clotting disorders – has launched its new website: www.hfmich.org.

The site was designed and developed by DesignHub, Inc. (www.design-hub.com) of Saline.

HFM strives to find better treatments and cures for hemophilia, Willebrand disease, and other coagulation disorders including HIV/AIDS and hepatitis. The organization’s new website describes its support programs, resources, and advocacy initiatives for adults and youth affected by these conditions. The site also provides educational information about bleeding and clotting disorders.

Visitors to the site learn how they can support HFM by volunteering, signing up for membership, and making financial contributions. A simple form lets them donate online to the organization through secure credit-card transactions.

HFM news and events are highlighted on the site’s home page. A search feature helps visitors quickly find the information they seek on the site.

In a password-protected login area of the site, medical clinics can order tags for their patients with bleeding and clotting disorders. Another password-protected login area lets HFM’s board of directors download internal documents securely.

The site features an online store where visitors can order and purchase HFM-branded merchandise including cups, mugs, t-shirts, and hoodies.

About Hemophilia Foundation of Michigan

HFM began in 1956 as Hemophilia of Michigan, an all-volunteer chapter of the National Hemophilia Foundation. Its mission was to promote the welfare of those afflicted with hemophilia or related hemorrhagic disorders.

Hemophilia summer camp began in 1969. That same year, HFM received United Way funding, leading to incorporation in 1970 and the hiring of a staff. In 1975, HFM became the regional core center for the Michigan, Ohio, and Indiana treatment centers, with responsibility for handling the federal funding for the University of Michigan, Michigan State University, and Cincinnati Children’s Hospital treatment centers.

During the early years, HFM existed as part of the University of Michigan Hemophilia Treatment Center. The foundation separated from the HTC in 1980. In 1986, the Centers for Disease Control and Prevention initiated AIDS Risk Reduction funding, leading to the hiring of psychosocial members of the HTC teams, and expanding federal funding into all Ohio and Michigan HTCs.

Presently there are nine HTCs in Michigan, nine in Ohio, and one in Indiana – together making up Region V-East. As the regional core center, HFM has fiduciary responsibility for all federal funding for the 19 centers, and provides administrative oversight of the comprehensive care and prevention programs that are funded by the U.S. Maternal and Child Health Bureau and the Centers for Disease Control and Prevention.

The National Hemophilia Foundation amended its bylaws in 1996 to change its formal relationship with its chapters. As a result, HFM was granted its own 501(c)(3) status (federal tax exemption) in 1997 after many years of being under NHF’s umbrella.

More information is available from Hemophilia Foundation of Michigan, 1921 W. Michigan Ave., Ypsilanti, MI 48197. Phone: (734) 544-0015. Toll-free: (800) 482-3041. Online: www.hfmich.org. HFM’s offices are close to I-94, on the south side of Ypsilanti.

About DesignHub

DesignHub, Inc. is a creative services and marketing firm that works with clients on website design and development, brand development, brochures, annual reports, newsletters, advertising, public relations, direct marketing, search marketing, social media marketing, packaging designs, signage, and exhibits, as well as marketing strategies and plans. The company was founded in 1999.

In addition to Hemophilia Foundation of Michigan, DesignHub’s clients include Advanced Photonix Inc., Ann Arbor Tower Plaza Condominium Association, Berry & Associates, BioMedware, Center for Automotive Research (CAR), Chelsea-Area Wellness Foundation, Chelsea Lumber, Daycroft Montessori School, Dexter Research, Dimensional Engineering, Electrocon International, Great Lakes Educational Group, Hardwood Solutions, Homeowner Services of America (HSA), Lamaze Family Center of Ann Arbor, McMullen Company, Michigan Business Connection, Motawi Tileworks, National Employment Law Project, Newcomers Welcome Service, OptiMetrics Inc., PTC, Phoenix Contractors, Recycle Ann Arbor, Renewal Ministries, City of Saline, Saline Area Chamber of Commerce, Saline Parks and Recreation Department, SignGraphix, Sun Engineering, the University of Michigan School of Music, Theatre & Dance, and others.

Further information is available from DesignHub, Inc., 600 W. Michigan Ave., Saline, MI 48176. Phone: (734) 944-8705. Email: info@design-hub.com. Online: www.design-hub.com.

Thursday • August 18 • 5:00 to 8:30 PM

Afterglow at Braun Court/Aut Bar 8:30 to 10:00 PM.

May 24, 2011 — Ann Arbor, Mich. — Country artist Paul Burch headlines the Kerrytown District Association’s fifth annual Nashbash, which has a tradition of showcasing the music of Nashville. Set in the Ann Arbor Farmers Market, the festival features a roster of first-class national and local performers in an intimate neighborhood atmosphere, making Kerrytown the place to be on a Thursday evening during the dog days of summer. The artistic force behind Nashbash is Whit Hill, a longtime member of the Ann Arbor arts community who now lives in Nashville. She and her band Whit Hill and the Postcards join the Nashbash roster, which also includes returning favorites

Pam Kennedy Boylan and Steve Mitchell (both from Nashville) promoting their new CD Haphazzard, as well as local acts to be announced.

Nashbash is free and open to the public. Contributing to the festival atmosphere, the Ann Arbor Artisans Market along with the Trunkers of Trunkapalooza will be operating under the Farmers Market canopy. Food and drinks (including beer and wine) will be available, including barbeque served up by Aut Bar owners Keith Orr and Martin Contrares. Immediately following Nashbash, the Aut Bar (315 Braun Court) will host an Afterglow party from 8:30 to 10:00 pm where many favorite locals will take the mic on the courtyard stage.

Guitarist/singer/songwriter Paul Burch and his band WPA Ballclub arrived in Nashville in the early 90’s, drawing world press to its live honkytonk music scene and helping to sound the arrival of Americana in Music City USA. Critics have praised Burch’s albums as “music that sounds thoroughly modern but completely unlike contemporary country” (USA Today) and Entertainment Weekly has called him "a modern day Jimmie Rodgers". Burch’s 2009 album Still Your Man, produced with Dennis Crouch and Jen Gunderman, features guests Kelly Hogan and Tim O’Brien and earned a place on the Grammy ballot for “Best Americana Album of 2009”.

Whit Hill and the Postcards features singer/songwriter Whitley Hill, singer/keyboardist/guitarist/husband Al Hill,

bassist Patrick Prouty, and drummer Chuck Navyac. Driven by Whitley Hill, the Postcards was formed in 2001 in order to bring interesting, literate, and unexpectedly beautiful alt-country music to the greater Detroit area. Hill, well-known for her versatile creative talents, spent much of her creative life in Ann Arbor but recently moved with her husband Al Hill to Nashville where they are quickly becoming a vital part of music community.

Pam Kennedy Boylan grew up in Texas and moved to Nashville nearly 15 years ago to join the city’s renowned singer-songwriter scene. She performed in the acclaimed musical Warrior by songwriter Marcus Hummon in 2001 and has since performed backup vocals for a variety of musicians around Nashville. Boylan has appeared in many of the Nashville music rooms such as the Douglas Corner Café, the BlueBird, and the Wildhorse Saloon, where she opened for the band Sons of the Desert. She has also appeared as a featured actress in many independent films that were presented at various Sundance Festivals around the country. Nashville-based guitarist and composer Steve Mitchell has toured extensively around the world, performing in Canada, the U.S., the United Kingdom, Germany, Switzerland, Denmark, and Norway. He is a former member and songwriter for the Juno-Award Winning band The Paperboys and has performed multiple times at Nashville’s world-famous Bluebird Café. Several of Mitchell’s compositions were featured in the award-winning documentary The Yenissey River Adventure. He appeared as a member of a band in the movie Lunch With Charles, starring Bif Naked.

ANN ARBOR, Mich – May 04, 2011

Con-way Inc. (NYSE:CNW) today reported net income for the first quarter of 2011 of $6.9 million, or 12 cents per diluted share. The results compare to a first quarter 2010 net loss of $4.0 million, or 8 cents per share.

On a non-GAAP basis, net income in the 2011 first quarter was $13.2 million, or 24 cents per diluted share compared to a loss of $0.8 million, or 2 cents per share in 2010, excluding the following:

2011: $6.3 million of increased tax expense from adjustments for discrete and other tax items.
2010: A $2.8 million charge for the write-off of a customer-relationship intangible asset and $1.2 million of increased tax expense from adjustments for discrete and other tax items.

Revenue for the 2011 first quarter was $1.25 billion, a 7.2 percent increase from last year’s first quarter. Operating income in the 2011 first quarter was $36.7 million compared to $14.4 million in the first quarter a year ago.

Douglas W. Stotlar, Con-way’s president and CEO, noted that despite severe winter weather, both Con-way Freight and Con-way Truckload achieved increased profits, while Menlo Worldwide Logistics posted a good quarter against a record performance last year.

“Con-way Freight’s employees are doing a commendable job executing our strategy,” said Stotlar. “The improvement initiatives that we launched last year at our less-than-truckload (LTL) company are beginning to influence bottom-line results. The network is operating with high levels of efficiency and consistency as we continue to improve the fundamentals of the business.”

Menlo Worldwide Logistics delivered a solid performance in the 2011 first quarter. “Facing a tough comparison from a record first quarter last year, Menlo generated consistent results, growing net revenue and operating income sequentially over the fourth quarter of 2010,”Stotlar noted. “Menlo is well positioned, particularly with its growing international business and a strengthening sales pipeline in North America.”

Con-way Truckload continued to improve, recording increases in revenue, profits and operating efficiencies compared to last year’s first quarter. “Strong operating discipline, tighter capacity and improved pricing led to a good quarter for Con-way Truckload,” said Stotlar. “Empty miles are declining and revenue per loaded mile is rising. Results from the first quarter bid cycle were encouraging. Con-way Truckload continues to increase productivity and asset utilization while maintaining its position as a premium service carrier.”

In the 2011 first quarter, Con-way Inc. recognized income tax expense of $14.4 million, including the earlier-mentioned adjustments, on $21.4 million of income before taxes. In the 2010 first quarter, income tax expense of $1.1 million, including the earlier-mentioned adjustments, was reported on a $2.9 million loss before taxes.

Segment results in the 2011 first quarter for Con-way’s principal operations were as follows:

FREIGHT

For the 2011 first quarter, Con-way Freight, the company’s less-than-truckload operation, reported:

Revenue of $767.7 million, a 5.9 percent increase over last year’s first-quarter revenue of $725.0 million. Improved yield and higher fuel surcharge revenue contributed to revenue growth.
Operating income of $20.3 million compared to an operating loss of $3.2 million in the year-ago period. The quarter benefited from effective cost controls, lower health care expense, improved balance in network tonnages, strong operating efficiencies and improved yield.
Revenue per hundredweight, or yield, increased 9.7 percent from the previous-year first quarter. Excluding the fuel surcharge, yield rose 5.6 percent.
Tonnage per day declined 4.7 percent compared to the previous-year first quarter, reflecting efforts over the past year to moderate tonnage to improve network efficiency.
Operating ratio was 97.4 in the 2011 first quarter compared to 100.4 in the previous-year period.

LOGISTICS

For the first quarter of 2011, Menlo Worldwide Logistics, the company’s global logistics and supply chain management operations, reported:

Revenue of $370.0 million, an increase of 4.2 percent from the prior year first-quarter revenue of $355.2 million, due to increased revenue from transportation-management services, partially offset by lower revenue from warehouse-management services.
Net revenue of $142.3 million, a 1.3 percent decline from $144.2 million in the previous year first quarter, which benefited primarily from higher performance-based revenue compared to the current quarter.
Operating income of $8.6 million, a 32.7 percent decline from last year’s first-quarter operating income of $12.9 million, which benefited from higher performance-based revenue. Lower operating income in the 2011 period also was affected by lower margins on both warehouse- and transportation-management services. First quarter 2010 included the previously mentioned $2.8 million impairment charge.

TRUCKLOAD

For the first quarter of 2011, Con-way Truckload, the company’s full-truckload transportation operation, reported:

Revenue of $145.2 million compared to prior-year first-quarter revenue of $140.6 million, reflecting the positive effect of higher fuel surcharges and improved revenue per loaded mile (excluding fuel surcharges).
Operating income of $7.1 million compared to $3.0 million in the previous-year period. The increase in first-quarter operating income resulted largely from improved pricing and operating costs that declined as a percentage of revenue.
Revenue per loaded mile (excluding fuel surcharges) increased 3.8 percent from the previous-year first quarter.
Empty miles were 9.6 percent of total miles compared to 10.1 percent in the previous-year first quarter.
Operating ratio exclusive of fuel surcharges was 93.8, compared to 97.5 in the first quarter of 2010.

CON-WAY OTHER

Con-way Other includes the company’s Road Systems, Inc. trailer manufacturing unit as well as other corporate activities. These activities produced first-quarter operating income of $0.6 million and $1.7 million in 2011 and 2010, respectively.

INVESTOR CONFERENCE CALL

Con-way will host a conference call for the investment community tomorrow, Thursday, May 5, beginning at 8:30 a.m. Eastern Daylight Time (5:30 a.m. Pacific).

The call can be accessed by dialing (866) 264-3634 or (706) 643-3632 (for international callers) and is expected to last approximately one hour. The call will also be available through a live internet webcast at www.con-way.com, in the investor relations section.

An audio replay will be available for two weeks following the call dialing (800) 642-1687 or (706) 645-9291 (for international callers) and using access code 57077418. An Internet replay of the presentation will also be available at the Con-way website.

About Con-way
Con-way Inc. (NYSE:CNW) is a $5.0 billion freight transportation and logistics services company headquartered in Ann Arbor, Mich. A diversified transportation company, Con-way delivers industry-leading services through three primary operating companies: Con-way Freight, Con-way Truckload and Menlo Worldwide Logistics. These operating units provide high-performance, day-definite less-than-truckload and full truckload freight transportation, as well as logistics, warehousing, multimodal and supply chain management services, and trailer manufacturing. Con-way Inc. and its subsidiaries operate from more than 500 locations across North America and in 20 countries. For more information about Con-way, visit us on the Web at www.con-way.com.

Analysis by Altarum Institute’s Center for Studying Health Spending indicates that health care prices in March 2011 were 1.9 percent higher than in March 2010 – the third consecutive month of less than 2 percent growth.

“For the first time since 1997-98, health care price inflation has dropped below 2 percent for three consecutive months” said the director of the center, Dr. Charles Roehrig. “This bodes well for continued low growth in health spending as we move into the second quarter of 2011.”

Altarum’s latest “Health Sector Economic Indicators” report shows that prices for hospitals grew by only 1.4 percent in March, while physician prices increased by only 1.6 percent. These two sectors were large enough to offset the 4.0 percent growth in prices for prescription drugs and hold overall growth below 2 percent.

While this brief emphasizes prices, it also incorporates data from Altarum’s March health spending brief, thus revealing the striking role of utilization in health spending growth trends. The report shows that health care utilization has been more important than prices in determining the rate of growth in national health spending.

“In our March 2011 spending brief, we noted a continuation of historically low rates of growth in health spending,” said Altarum’s Roehrig. “Over the past 10 years or so, the rate of increase in health care utilization has slowed considerably and been the main contributor to slower spending growth. However, over the past few months, slower price growth has offset a rebound in utilization to keep spending growth at low levels. We are particularly interested in understanding the determinants of the utilization trends.”

Altarum’s analysis is based on U.S. Bureau of Labor Statistics price data, and its own monthly composite health care price index, which is patterned after the price index developed by the Centers for Medicare & Medicaid Services. To see the April and previous “Health Sector Economic Indicators” reports, visit Altarum’s website at www.altarum.org/healthindicators. You may also join Altarum’s distribution list to receive email alerts of all future releases of the “Health Sector Economic Indicators” reports.