Braintech, Inc., a provider of software products that offer robust, scalable and transferable Vision Guided Robotic (VGR) solutions used for industrial and government and defense service applications, recently announced that the company’s wholly owned subsidiary, Braintech Government & Defense, Inc., received a subcontract from BAE Systems on a U.S. government and defense contract. Braintech is currently developing automated assembly solutions based on its industry-leading VGR technology in Phase II of the Automated Weapons Assembly project for the Office of Naval Research.

Adam Marsh, BAE Systems’ program manager, commented, “With its unique vision guidance software technology and dedicated technical team, Braintech is developing a critical system component that was key to proving to the customer that weapon assembly could be automated. Mr. Marsh concluded, “This will reduce the number of sailors required, reduce the risk of injuries and provide a reliable, repeatable process for the Navy. BAE Systems is very pleased

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Yesterday, China Crescent Enterprises, Inc. released an on-demand Webcast presentation featuring CEO Paul Danner with a review of the company’s recently announced acquisition plans. The webcast featured China Crescent’s announcement last week of its intention to acquire a subsidiary of China Radio Technology, Ltd.

A Hong Kong-registered company, China Radio Technology Ltd. is a mobile communication hardware and software company. The subsidiary is anticipated to bring in $20 million in annual revenue. China Crescent currently generates approximately $40 million in annual revenue; therefore the contemplated acquisition could increase annual revenue in 2010 by approximately fifty percent. The company also anticipates that it could increase China Crescent’s product offerings in the growing mobile technology industry, in addition to expanding the Company’s geographical footprint in China.

A link to the Webcast is now available at the corporate website www.chinacrescent.com under ‘Recent Webcasts’ titled ‘China Crescent – China Radio Technology Ltd’.

Let us hear

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Digital River, Inc. (DRIV) recently reported third-quarter revenues of $99.4 million, up 3.2% from the year-ago level and surpassed management’s revenue guidance of $96.5 million – $98.5 million. The growth in revenues was driven by strength in software, consumer electronics and games markets where the company expanded existing client relationships and closed new business as well. Earnings per share of 42 cents easily beat the Zacks Consensus Estimate of 33 cents and exceeded management’s forecast of 38 cents – 41 cents. Earlier, prime customer Symantec announced that it would not renew its existing e-commerce agreement with Digital River beyond June 30, 2010, when its existing contract expires. However, management is encouraged by the future prospects of its existing business. Going forward, management continues to work on its business plans in response to Symantec’s decision to not renew its e-commerce contract. The company stated that it does

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ChinaNet Online Holdings, Inc., an online technology and software provider which has, since its inception in 2003, led the field in full-service media development for small and medium enterprises (SME’s), today announced the appointment of a new Chief Technology Officer (CTO).

Mr. Hongli Xu will be taking the job of CTO at ChinaNet. CEO of ChinaNet, Mr. Handong Cheng, proclaimed that “he will provide critical leadership as we continue to elevate ChinaNet’s position in the Chinese media and advertising markets”.

Cheng went on to extol the appointment, saying of the candidate that “Mr. Xu brings over two decades of experience in the internet and software development industry in various sectors”.

With two years as head of development and management of an entire suite of software products for ThinkingPower Technology Co., Ltd. – a company working in broadcast and television markets via e-government software applications – Mr. Xu has the experience

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Today, we are featuring top-performing “Technology" equity mutual funds, which primarily invest in equity securities of companies that deal in advanced technologies.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Technology Equity Funds.

3 Hi-Tech Choices

T. Rowe Price Global Technology (PRGTX) seeks long-term capital growth. It may purchase stocks ranging from small companies to blue chip firms with established track records.

The fund invests at least 80% of its net assets throughout the world in the common stocks of companies that generate a majority of their revenues from the development, advancement, and use of technology. It looks to invest at least 30% of its assets in established as well as emerging foreign markets.

Shareholders have to make a minimum initial investment of $2,500 to enter this Zacks#1 Rank (“Strong Buy") fund. As of June 2009, it has a portfolio turnover of 104.6%.

David J.

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Power3 Medical Products, Inc. (OTCBB: PWRM), a leader in neurodegenerative disease and cancer biomarkers and diagnostic tests, announces further international recognition of validity as the company’s President and CSO, Dr. Ira Goldknopf, will deliver an invited Keynote address and chair a session on “Biomarkers and Diagnostics in Personalized Medicine (Track 6-4),” at the BIT Life Sciences 2nd International Congress and Expo of Molecular Diagnostics in Beijing, China, November 19-21, 2009. The Theme of the meeting is “New Leadership of

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Compuware Corp. (CPWR) yesterday reported revenues of $217.9 million in its fiscal second quarter, down 19.2% year over year but up 1.6% sequentially.

Software license fees grew 18.7% year over year to $50.1 million. Maintenance fees declined 12.0% year over year to $109.7 million. Revenues from professional services came in at $58.1 million compared to $102.9 million in the same quarter last year. Compuware plans to have a smaller but more profitable Professional Services Business going forward.

Operating margin improved to 19% from 10% in the year-ago quarter due to a 27% decrease in operating expenses. The company has divested a few of its peripheral products and services (Quality family of products and DevPartner software) thereby reducing unprofitable revenue streams and increasing margins. The company plans to concentrate on its software business and deliver superior end-to-end application performance, which the company calls Business Service Delivery. 

These divestitures have reduced the top-line by

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In a filing with the SEC, Sun Microsystems Inc. (JAVA) announced to cut its headcount by 3,000 or 10% over the next 12 months, given the delay in getting European Commission clearance for its merger with Oracle Corp. (ORCL).  Sun said that the job cuts will affect all of the company’s major regions, including North America, Europe, Asia and emerging markets. The company expects to incur $75 – $125 million in restructuring charges over the next several quarters. The company said it will record the majority of the charges in the second and third quarters of fiscal 2010.  Oracle, the largest software company, had proposed the acquisition of Sun Microsystems for $7.4 billion ($9.50 a share), which has been slowed by an ongoing antitrust review in Europe and the company is still waiting for clearance by the European Commission.  The delay in approval from the ...

This month marks Advanced Visual Systems Inc.’s eighteenth year of operations. The Boston-area company, which has provided software and solutions to over 2,000 customers and an estimated 10 million end-users, was one of the first to commercialize data visualization technology and now offers a lineup of six branded products that serve the diverse needs of global corporations, software makers, researchers and engineers.

David M. Murray, CEO, stated, “With nearly two decades of experience providing software and solutions to a long list of leading global corporations, AVS understands what all types of decision-makers need to succeed. Our early customers were software developers and researchers working on smaller, specialized projects. But for the past decade, our customers are more frequently executives trying to squeeze every drop of efficiency out of their business — and they are using data visualization as a key component of

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NEW YORK, Oct. 20 /CRWENEWSWIRE/ — Deloitte today released the 2009 Technology Fast 500(TM), an annual ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America based on five-year fiscal revenue growth. ReachLocal, a global provider of localized internet advertising solutions, achieved the coveted top spot on the list with 2008 fiscal year revenue of $146.69 million and a five-year fiscal growth rate of 146,050 percent. The company is privately held and based in Woodland Hills, California.

“Deloitte’s Technology Fast 500(TM) identifies some

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