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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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Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
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The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Akana has announced the availability of version 8 of its API Management solution. The Akana Platform provides an end-to-end API Management solution for designing, implementing, securing, managing, monitoring, and publishing APIs. It is available as a SaaS platform, on-premises, and as a hybrid deployment. Version 8 introduces a lot of new functionality, all aimed at offering customers the richest API Management capabilities in a way that is easier than ever for API and app developers to use.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...