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North Valley Bancorp Reports Unaudited Results for the Fourth Quarter and Year Ended December 31, 2012

REDDING, CA -- (Marketwire) -- 02/06/13 -- North Valley Bancorp (NASDAQ: NOVB), a bank holding company with $902 million in assets, today reported results for the fourth quarter and year ended December 31, 2012. North Valley Bancorp (the "Company") is the parent company for North Valley Bank (the "Bank").

The Company reported net income of $545,000, or $0.08 per diluted share, for the quarter ended December 31, 2012 compared to net income of $809,000, or $0.12 per diluted share, for the quarter ended December 31, 2011. The Company reported net income for the year ended December 31, 2012 of $6,290,000, or $0.92 per diluted share, compared to net income of $3,047,000, or $0.45 per diluted share for the year ended December 31, 2011.

Michael J. Cushman, President and Chief Executive Officer, stated, "2012 was a year of many successes and positions us well for 2013. We had positive loan growth, improved the mix of our deposits, reduced nonperforming assets, and had a good year of profitability, among other achievements. Our team continues to work hard in a challenging environment, and the results are positive. I want to thank them, our customers, and our shareholders for their continued support of our Company."

The Company did not record a provision for loan losses in the fourth quarter ended December 31, 2012 or the fourth quarter ended December 31, 2011. The Company recorded provisions for loan losses of $2,100,000 for the year ended December 31, 2012 compared to provisions for loan losses of $2,650,000 for the year ended December 31, 2011. The allowance for loan losses at December 31, 2012 was $10,458,000 or 2.12% of total loans, compared to $12,656,000, or 2.77% of total loans at December 31, 2011.

At December 31, 2012, total assets were $902,343,000, a decrease of $2,623,000, or 0.3% from $904,966,000 at December 31, 2011. Total loans were $492,211,000 at December 31, 2012, an increase of $35,996,000, or 7.9%, compared to $456,215,000 at December 31, 2011. The loan to deposit ratio at December 31, 2012 was 64.0% as compared to 59.5% at December 31, 2011. Total deposits increased $2,341,000, or 0.3%, to $768,580,000 at December 31, 2012 compared to $766,239,000 at December 31, 2011. Available-for-sale investment securities decreased $26,390,000 to $285,815,000 at December 31, 2012 from $312,205,000 at December 31, 2011, as proceeds and paydowns from the investment portfolio were used to fund loan growth.

At December 31, 2012, the Company's Total Risk-based Capital was $113,028,000, and its capital ratios were: Total Risk-based Capital ratio - 18.3%; Tier 1 risk-based Capital ratio - 17.0%; and Tier 1 Leverage ratio - 11.8%. At December 31, 2012, the Bank's Total Risk-based Capital was $112,938,000, and its capital ratios were: Total Risk-based Capital ratio - 18.3%; Tier 1 risk-based Capital ratio - 17.0%; and Tier 1 Leverage ratio - 11.8%.

Credit Quality

Nonperforming loans (defined as nonaccrual loans and loans 90 days or more past due and still accruing interest) decreased $12,576,000, or 68.3%, to $5,835,000 at December 31, 2012 from $18,411,000 at December 31, 2011. Nonperforming loans as a percentage of total loans were 1.19% at December 31, 2012, compared to 4.04% at December 31, 2011.

The overall level of nonperforming loans decreased $5,744,000 to $5,835,000 at December 31, 2012 from $11,579,000 at September 30, 2012. During the fourth quarter of 2012, the Company identified four loans totaling $777,000 as additional nonperforming loans. These additions were offset by reductions in nonperforming loans totaling $6,521,000 due primarily to the transfer to OREO of five properties totaling $4,755,000, and secondarily due to collections received on certain loans and charge-offs. Of the four loans totaling $777,000 identified as nonaccrual loans and added to nonperforming loans, one loan represented $623,000 of the total. This loan is for a commercial real estate building located in Shasta County. This loan had a charge-off of $78,000 in the fourth quarter of 2012 to write the loan down to its net realizable value. The remaining three loans in this group of nonperforming loans totaled $154,000 and no specific reserve has been established for them.

Gross loan and lease charge-offs for the fourth quarter of 2012 were $1,051,000 and recoveries totaled $82,000 resulting in net charge-offs of $969,000 compared to gross loan and lease charge-offs for the fourth quarter of 2011 of $1,151,000 and recoveries of $136,000 resulting in net charge-offs of $1,015,000. Gross charge-offs for the year ended December 31, 2012 were $4,702,000 and recoveries for the same year totaled $404,000 resulting in net charge-offs of $4,298,000, compared to gross charge-offs for the year ended December 31, 2011 of $5,525,000 and recoveries of $538,000 resulting in net charge-offs of $4,987,000.

Nonperforming assets (nonperforming loans and other real estate owned ("OREO")) totaled $28,258,000 at December 31, 2012, a decrease of $10,259,000, or 26.6%, from the December 31, 2011 balance of $38,517,000. Nonperforming assets as a percentage of total assets were 3.13% at December 31, 2012 compared to 4.26% at December 31, 2011.

The Company's OREO properties increased $734,000 to $22,423,000 at December 31, 2012 from $21,689,000 at September 30, 2012. The increase in OREO was due to the transfer of five properties totaling $4,755,000. The increase in OREO was partially offset by the sale of four properties totaling $2,475,000 with losses of $218,000 associated with those sales and the write-down of certain other OREO properties totaling $1,328,000 during the quarter ended December 31, 2012.

Operating Results

Net interest income, which represents the Company's largest component of revenues and is the difference between interest earned on loans and investments and interest paid on deposits and borrowings, increased $224,000, or 3.0%, for the three months ended December 31, 2012 compared to the same period in 2011. Interest income decreased by $603,000, or 6.8%, for the three months ended December 31, 2012, primarily due to the decrease in interest income on loans due to the decrease in yield on average loan balances. The Company had foregone interest income of $80,000 related to loans currently on nonaccrual status for the three months ended December 31, 2012 compared to $173,000 for the same period in 2011. Average loans increased $19,471,000 in the fourth quarter of 2012 compared to the fourth quarter of 2011 while the yield on the loan portfolio decreased 47 basis points to 5.44% for the fourth quarter of 2012. Offsetting this decrease in interest income for the quarter was a decrease in interest expense of $827,000, or 62.1%, primarily due to a decrease in the rates paid on deposits and secondarily a decrease in interest expense on subordinated debentures. Overall, average earning assets decreased $32,677,000 in the fourth quarter of 2012 compared to the fourth quarter of 2011. Average yields on earning assets decreased 33 basis points from the quarter ended December 31, 2011, to 3.99% for the quarter ended December 31, 2012 while the average rate paid on interest-bearing liabilities decreased by 50 basis points to 0.33%. The Company's net interest margin (tax equivalent basis) for the quarter ended December 31, 2012 was 3.74%, an increase of 6 basis points from 3.68% for the fourth quarter of 2011 and a decrease of 4 basis points from the net interest margin (tax equivalent basis) of 3.78% for the linked quarter ended September 30, 2012. Net interest income decreased $1,153,000, or 3.7%, for the year ended December 31, 2012 compared to the year ended December 31, 2011. Total interest income decreased by $3,414,000, or 9.2%, primarily due to a decrease in income on loans as a result of both the decrease in average balance of loans and a decrease in yield on loans. Interest expense decreased $2,261,000, or 39.1%, due to a decrease in rates paid on deposits and due to a decrease in interest expense on subordinated debentures for the year ended December 31, 2012 compared to the year ended December 31, 2011. The net interest margin for the year ended December 31, 2012 decreased 17 basis points to 3.75% from the net interest margin of 3.92% for the year ended December 31, 2011.

Noninterest income for the quarter ended December 31, 2012 increased $552,000, or 14.9%, to $4,269,000 compared to $3,717,000 for the same period in 2011. Service charges on deposits decreased $33,000 to $1,059,000 for the fourth quarter of 2012 compared to $1,092,000 for the same period in 2011, and other fees and charges decreased by $85,000 to $1,095,000 for the fourth quarter of 2012 compared to $1,180,000 for the same period in 2011. The Company recorded gains on the sale of mortgage loans of $966,000, and gains on the sale of SBA loans of $330,000 for the quarter ended December 31, 2012 compared to gains of $215,000 and zero, respectively, for the same period in 2011. The Company recognized gains on the sale of investment securities of $221,000 for the fourth quarter of 2012 compared to $828,000 for the same period in 2011. Noninterest income for the year ended December 31, 2012 increased by $2,054,000, or 14.3%, to $16,419,000 from $14,365,000 for the year ended December 31, 2011. The primary reason for the increase in noninterest income in 2012 compared to 2011 was due to an increase in gains on the sale of mortgage loans of $2,189,000. Service charges on deposit accounts decreased $302,000 to $4,333,000 for the year ended December 31, 2012 compared to $4,635,000 for the year ended December 31, 2011, while other fees and charges increased $52,000 to $4,715,000 for the year ended December 31, 2012 compared to $4,663,000 for the year ended December 31, 2011. The Company recorded gains on the sale of mortgage loans of $2,682,000, and gains on the sale of SBA loans of $472,000 for the year ended December 31, 2012 compared to $493,000 and $680,000, respectively, for the year ended December 31, 2011. The Company recognized gains on the sale of investment securities of $1,877,000 for the year ended December 31, 2012 compared to $1,677,000 for the year ended December 31, 2011.

Noninterest expenses increased $424,000 to $11,336,000 for the fourth quarter of 2012 from $10,912,000 for the fourth quarter of 2011. Salaries and employee benefits increased $401,000 in the fourth quarter of 2012 from the fourth quarter of 2011, while the Company experienced decreases in occupancy expense and furniture and equipment expense of $40,000, and decreases in FDIC and state assessments of $94,000 in the fourth quarter of 2012 compared to the fourth quarter of 2011. The Company's other real estate owned expense decreased $535,000 to $1,763,000 for the fourth quarter of 2012 compared to $2,298,000 for the fourth quarter of 2011. Other noninterest expense increased $692,000 to $3,323,000 in the fourth quarter of 2012 compared to $2,631,000 for the fourth quarter of 2011. Noninterest expenses for the year ended December 31, 2012 increased $264,000 to $39,979,000 compared to $39,715,000 for the year ended December 31, 2011. The reason for the increase was due primarily to an increase in salaries and employee benefits of $1,620,000 to $20,277,000 for the year ended December 31, 2012 compared to $18,657,000 for the year ended December 31, 2011. The increase was partially offset due to decreases in occupancy expense and furniture and equipment expense of $363,000, decreases in other real estate owned expense of $1,248,000 and FDIC and state assessments of $433,000 for the year ended December 31, 2012 compared to the year ended December 31, 2011.

The Company recorded a provision for income taxes for the quarter ended December 31, 2012 of $160,000, compared to a benefit for income taxes of $456,000, for the quarter ended December 31, 2011. The Company recorded a benefit for income taxes for the year ended December 31, 2012 of $1,744,000, compared to a provision for income taxes of $312,000 for the year ended December 31, 2011.

On January 30, 2013, the Company filed a Current Report on Form 8-K, reporting that its interim financial statements as of and for the three and nine months ended September 30, 2012 would be restated because there was an error in the calculation of the tax benefits recorded in that quarter. In its previously filed third quarter 2012 Form 10-Q, the Company reported tax benefits of $3,893,000 and $3,251,000 for the three and nine months ended September 30, 2012, respectively. The correct amounts were $2,546,000 and $1,904,000, respectively. The Company intends to amend and correct its third quarter Form 10-Q as soon as practicable. The difference in recorded tax benefits is expected to reduce the Company's net income to $4,004,000 and $5,745,000 for the three and nine months ended September 30, 2012, respectively. For additional information, reference should be made to the Company's Current Report on Form 8-K as filed on January 30, 2013.

North Valley Bancorp is a bank holding company headquartered in Redding, California. Its subsidiary, North Valley Bank (the "Bank"), operates twenty-two commercial banking offices in Shasta, Humboldt, Del Norte, Mendocino, Yolo, Sonoma, Placer and Trinity Counties in Northern California, including two in-store supermarket branches and six Business Banking Centers. North Valley Bancorp, through the Bank, offers a wide range of consumer and business banking deposit products and services including internet banking and cash management services. In addition to these depository services, the Bank engages in a full complement of lending activities including consumer, commercial and real estate loans. Additionally, the Bank has SBA Preferred Lender status and provides investment services to its customers. Visit the Company's website address at www.novb.com for more information.

Cautionary Statement: This release contains certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those stated herein. Management's assumptions and projections are based on their anticipation of future events and actual performance may differ materially from those projected. Risks and uncertainties which could impact future financial performance include, among others, (a) competitive pressures in the banking industry; (b) changes in the interest rate environment; (c) general economic conditions, either nationally, regionally or locally, including fluctuations in real estate values; (d) changes in the regulatory environment; (e) changes in business conditions or the securities markets and inflation; and (f) the effects of terrorism, including the events of September 11, 2001, and thereafter, and the conduct of the war on terrorism by the United States and its allies. Therefore, the information set forth herein, together with other information contained in the periodic reports filed by the Company with the Securities and Exchange Commission, should be carefully considered when evaluating the business prospects of the Company. North Valley Bancorp undertakes no obligation to update any forward-looking statements contained in this release, except as required by law.

                           NORTH VALLEY BANCORP
                   CONDENSED CONSOLIDATED FINANCIAL DATA
                                (Unaudited)
          (Dollars in thousands, except share and per share data)

                                  Three Months Ended
                                     December 31,
Statement of Operations Data       2012       2011      $ Change  % Change
                                ---------- ----------  ---------  --------
Interest income
  Loans (including fees)        $    6,605 $    6,885  $    (280)    (4.07%)
  Investment securities              1,660      1,958       (298)   (15.22%)
  Federal funds sold and other          11         36        (25)   (69.44%)
                                ---------- ----------  ---------  --------
    Total interest income            8,276      8,879       (603)    (6.79%)
                                ---------- ----------  ---------  --------
Interest expense
  Interest on deposits                 365        859       (494)   (57.51%)
  Subordinated debentures              139        472       (333)   (70.55%)
  Other borrowings                       -          -          -         -
                                ---------- ----------  ---------  --------
    Total interest expense             504      1,331       (827)   (62.13%)
                                ---------- ----------  ---------  --------
Net interest income                  7,772      7,548        224      2.97%
Provision for loan losses                -          -          -         -
                                ---------- ----------  ---------  --------
Net interest income after
 provision for loan losses           7,772      7,548        224      2.97%
                                ---------- ----------  ---------  --------

Noninterest income
  Service charges on deposit
   accounts                          1,059      1,092        (33)    (3.02%)
  Other fees and charges             1,095      1,180        (85)    (7.20%)
  Gain on sales of mortgage
   loans                               966        215        751    349.30%
  Gain on sales of SBA loans           330          -        330         -
  Gain on sales of securities,
   net                                 221        828       (607)   (73.31%)
  Other                                598        402        196     48.76%
                                ---------- ----------  ---------  --------
    Total noninterest income         4,269      3,717        552     14.85%
                                ---------- ----------  ---------  --------

Noninterest expenses
  Salaries and employee
   benefits                          5,164      4,763        401      8.42%
  Occupancy                            636        662        (26)    (3.93%)
  Furniture and equipment              229        243        (14)    (5.76%)
  Other real estate owned
   expense                           1,763      2,298       (535)   (23.28%)
  FDIC and state assessments           221        315        (94)   (29.84%)
  Other                              3,323      2,631        692     26.30%
                                ---------- ----------  ---------  --------
    Total noninterest expenses      11,336     10,912        424      3.89%
                                ---------- ----------  ---------  --------
    Income before provision
     (benefit) for income taxes        705        353        352     99.72%
Provision (benefit) for income
 taxes                                 160       (456)       616   (135.09%)
                                ---------- ----------  ---------  --------
    Net income                  $      545 $      809  $    (264)   (32.63%)
                                ========== ==========  =========  ========


Common Share Data
Earnings per share
  Basic                         $     0.08 $     0.12  $   (0.04)   (33.33%)
  Diluted                       $     0.08 $     0.12  $   (0.04)   (33.33%)

Weighted average shares
 outstanding                     6,835,192  6,833,752
Weighted average shares
 outstanding - diluted           6,836,192  6,833,752
Book value per share            $    14.07 $    13.09
Tangible book value             $    14.03 $    13.03
Shares outstanding               6,835,192  6,833,752


                           NORTH VALLEY BANCORP
                   CONDENSED CONSOLIDATED FINANCIAL DATA
                                (Unaudited)
          (Dollars in thousands, except share and per share data)

                                  Twelve Months Ended
                                     December 31,
Statement of Operations Data       2012        2011     $ Change  % Change
                                ----------  ---------- ---------  --------
Interest income
  Loans (including fees)        $   26,062  $   28,863 $  (2,801)    (9.70%)
  Investment securities              7,603       8,209      (606)    (7.38%)
  Federal funds sold and other          66          73        (7)    (9.59%)
                                ----------  ---------- ---------  --------
    Total interest income           33,731      37,145    (3,414)    (9.19%)
                                ----------  ---------- ---------  --------
Interest expense
  Interest on deposits               2,165       3,893    (1,728)   (44.39%)
  Subordinated debentures            1,352       1,892      (540)   (28.54%)
  Other borrowings                       8           1         7    700.00%
                                ----------  ---------- ---------  --------
    Total interest expense           3,525       5,786    (2,261)   (39.08%)
                                ----------  ---------- ---------  --------
Net interest income                 30,206      31,359    (1,153)    (3.68%)
Provision for loan losses            2,100       2,650      (550)   (20.75%)
                                ----------  ---------- ---------  --------
Net interest income after
 provision for loan losses          28,106      28,709      (603)    (2.10%)
                                ----------  ---------- ---------  --------

Noninterest income
  Service charges on deposit
   accounts                          4,333       4,635      (302)    (6.52%)
  Other fees and charges             4,715       4,663        52      1.12%
  Gain on sales of mortgage
   loans                             2,682         493     2,189    444.02%
  Gain on sales of SBA loans           472         680      (208)   (30.59%)
  Gain on sales of securities,
   net                               1,877       1,677       200     11.93%
  Other                              2,340       2,217       123      5.55%
                                ----------  ---------- ---------  --------
    Total noninterest income        16,419      14,365     2,054     14.30%
                                ----------  ---------- ---------  --------

Noninterest expenses
  Salaries and employee
   benefits                         20,277      18,657     1,620      8.68%
  Occupancy                          2,547       2,786      (239)    (8.58%)
  Furniture and equipment              938       1,062      (124)   (11.68%)
  Other real estate owned
   expense                           3,556       4,804    (1,248)   (25.98%)
  FDIC and state assessments           922       1,355      (433)   (31.96%)
  Other                             11,739      11,051       688      6.23%
                                ----------  ---------- ---------  --------
    Total noninterest expenses      39,979      39,715       264      0.66%
                                ----------  ---------- ---------  --------
    Income before (benefit)
     provision for income taxes      4,546       3,359     1,187    (35.34%)
(Benefit) provision for income
 taxes                              (1,744)        312    (2,056)   658.97%
                                ----------  ---------- ---------  --------
    Net income                       6,290       3,047     3,243   (106.43%)
                                ----------  ---------- ---------  --------


Common Share Data
Earnings per share
  Basic                         $     0.92  $     0.45 $    0.47   (104.44%)
  Diluted                       $     0.92  $     0.45 $    0.47   (104.44%)

Weighted average shares
 outstanding                     6,835,371   6,833,031
Weighted average shares
 outstanding - diluted           6,836,371   6,833,031
Book value per share            $    14.07  $    13.09
Tangible book value             $    14.03  $    13.03
Shares outstanding               6,835,192   6,833,752


                            NORTH VALLEY BANCORP
                   CONDENSED CONSOLIDATED FINANCIAL DATA
                                (Unaudited)
                           (Dollars in thousands)

                                                December 31,   December 31,
Balance Sheet Data                                  2012           2011
                                               -------------  -------------
Assets
  Cash and due from banks                      $      22,654  $      18,758
  Federal funds sold                                  15,865         40,210
  Time deposits at other financial
   institutions                                        2,219          1,959
  Available-for-sale securities - at fair
   value                                             285,815        312,205
  Held-to-maturity securities - at amortized
   cost                                                    6              6

  Loans net of deferred loan fees                    492,211        456,215
  Allowance for loan losses                          (10,458)       (12,656)
                                               -------------  -------------
    Net loans                                        481,753        443,559

  Premises and equipment, net                          9,181          8,661
  Other real estate owned                             22,423         20,106
  Core deposit intangibles, net                          255            401
  Accrued interest receivable and other assets        62,172         59,101
                                               -------------  -------------
Total assets                                   $     902,343  $     904,966
                                               =============  =============

Liabilities and Shareholders' Equity
  Deposits:
    Demand, noninterest bearing                $     177,855  $     167,506
    Demand, interest bearing                         185,315        170,124
    Savings and money market                         233,034        216,299
    Time                                             172,376        212,310
                                               -------------  -------------
      Total deposits                                 768,580        766,239

  Accrued interest payable and other
   liabilities                                        15,951         17,301
  Subordinated debentures                             21,651         31,961
                                               -------------  -------------
Total liabilities                                    806,182        815,501
  Shareholders' equity                                96,161         89,465
                                               -------------  -------------
Total liabilities and shareholders' equity     $     902,343  $     904,966
                                               =============  =============

Asset Quality
  Nonaccrual loans                             $       5,835  $      18,359
  Loans past due 90 days and accruing interest             -             52
  Other real estate owned                             22,423         20,106
                                               -------------  -------------
    Total nonperforming assets                 $      28,258  $      38,517
                                               =============  =============

  Classified assets                            $      45,297  $      59,742
  Bank Tier 1 Capital + ALLL                   $     115,580  $     126,323
  Classified assets ratio                              39.19%         47.29%

  Allowance for loan losses to total loans              2.12%          2.77%
  Allowance for loan losses to NPL's                  179.23%         68.74%
  Allowance for loan losses to NPA's                   37.01%         32.86%


                            NORTH VALLEY BANCORP
                   CONDENSED CONSOLIDATED FINANCIAL DATA
                                (Unaudited)
                           (Dollars in thousands)

                                  Three Months Ended    Twelve Months Ended
                                     December 31,          December 31,
Selected Financial Ratios           2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------
  Return on average total assets      0.24%      0.35%      0.69%      0.34%
  Return on average
   shareholders' equity               2.19%      3.66%      6.70%      3.54%
  Net interest margin (tax
   equivalent basis)                  3.74%      3.68%      3.75%      3.92%
  Efficiency ratio                   94.15%     96.87%     85.75%     86.86%

Selected Average Balances
  Loans                          $ 481,998  $ 462,527  $ 464,647  $ 482,845
  Taxable investments              279,807    286,708    297,451    280,708
  Tax-exempt investments            10,749     13,974     11,903     14,205
  Federal funds sold and other      17,893     59,915     27,861     31,103
                                 ---------  ---------  ---------  ---------
    Total earning assets         $ 790,447  $ 823,124  $ 801,862  $ 808,861
                                 ---------  ---------  ---------  ---------
    Total assets                 $ 904,083  $ 917,642  $ 910,295  $ 901,271
                                 ---------  ---------  ---------  ---------

  Demand deposits - interest
   bearing                       $ 183,948  $ 168,997  $ 180,038  $ 164,616
  Savings and money market         235,146    219,283    226,070    220,501
  Time deposits                    174,096    215,689    193,476    216,408
  Other borrowings                  21,651     31,961     30,205     32,012
                                 ---------  ---------  ---------  ---------
    Total interest bearing
     liabilities                 $ 614,841  $ 635,930  $ 629,789  $ 633,537
                                 ---------  ---------  ---------  ---------
  Demand deposits - noninterest
   bearing                       $ 173,296  $ 163,157  $ 164,437  $ 159,242
                                 ---------  ---------  ---------  ---------
  Shareholders' equity           $  98,512  $  87,583  $  93,906  $  86,106
                                 ---------  ---------  ---------  ---------


                            NORTH VALLEY BANCORP
                    CONDENSED CONSOLIDATED FINANCIAL DATA
                                 (Unaudited)
                (Dollars in thousands, except per share data)

                                              For the Quarter Ended
                                    ----------------------------------------
                                     December September     June     March
                                       2012      2012       2012      2012
                                    --------- ---------  --------- ---------
Interest income                     $   8,276 $   8,426  $   8,420 $   8,609
Interest expense                          504       713      1,091     1,217
                                    --------- ---------  --------- ---------
  Net interest income                   7,772     7,713      7,329     7,392

Provision for loan losses                   -       700      1,000       400
Noninterest income                      4,269     4,204      4,687     3,259
Noninterest expense                    11,336     9,759      9,228     9,656
                                    --------- ---------  --------- ---------

Income before provision (benefit)
 for income taxes                         705     1,458      1,788       595
Provision (benefit) for income
 taxes                                    160    (2,546)       527       115
                                    --------- ---------  --------- ---------
  Net income                        $     545 $   4,004  $   1,261 $     480
                                    ========= =========  ========= =========

Earnings per common share:
  Basic                             $    0.08 $    0.59  $    0.18 $    0.07
                                    ========= =========  ========= =========
  Diluted                           $    0.08 $    0.59  $    0.18 $    0.07
                                    ========= =========  ========= =========

For further information contact:
Michael J. Cushman
President & Chief Executive Officer
(530) 226-2900
Fax: (530) 221-4877

or

Kevin R. Watson
Executive Vice President & Chief Financial Officer
(530) 226-2900
Fax: (530) 221-4877

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Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, will discuss some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he’ll go over some of the best practices for structured team migrat...
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Taica manufacturers Alpha-GEL brand silicone components and materials, which maintain outstanding performance over a wide temperature range -40C to +200C. For more information, visit http://www.taica.co.jp/english/.
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, will discuss how they bu...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, will discuss how from store operations...
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
SYS-CON Events announced today that Datera will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera offers a radically new approach to data management, where innovative software makes data infrastructure invisible, elastic and able to perform at the highest level. It eliminates hardware lock-in and gives IT organizations the choice to source x86 server nodes, with business model option...
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
Digital transformation is changing the face of business. The IDC predicts that enterprises will commit to a massive new scale of digital transformation, to stake out leadership positions in the "digital transformation economy." Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA, Oct 31-Nov 2, will find fresh new content in a new track called Enterprise Cloud & Digital Transformation.
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp emp...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
SYS-CON Events announced today that Avere Systems, a leading provider of hybrid cloud enablement solutions, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere Systems was created by file systems experts determined to reinvent storage by changing the way enterprises thought about and bought storage resources. With decades of experience behind the company’s founders, Avere got its ...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...