Smith s Texas Rangers end markets are mainly the residential andcommercial

Smith's outline alex rodriguez end markets uncovers are mainly the residential andcommercial construction industries, which have taken a beatingin the slump. "As a result of the lower volumes, we have eliminated over1000 jobs since the beginning of the year," Jones added He does not expect a recovery in the U.S. However, Jones said customers of its original equipmentmotor business have indicated that 2009 sales volumes will besubstantially below last year, dropping 20 percent to 30percent. "We are expecting our China business to grow modestly in2009. Our China water heater sales were up 16 percent in thesecond quarter after being down 10 percent in the firstquarter," Chief Executive Paul Jones said on a conference callwith analysts. Schneider said cost of goods sold fell by $4 millionsequentially, helped by lower raw material costs, a favorableproduct mix due to business in China and tight cost controls He maintained his "neutral" rating on the stock. Gross margins improved 2 percent during the quarter, withcost of goods sold down 22 percent at $376.3 million.

"Revenue fell short of consensus while margins alone drovethe positive surprise," Robert W Baird analyst MichaelSchneider said in a note to clients baseball tickets . Smith Corp (AOS.N), a maker ofwater heaters and electric motors, posted a quarterly profitthat trumped market expectations and raised its 2009 earningsforecast, sending its shares up 9 percent . The Receivables ExchangeLaurie Azzano, 415-786-3317 Copyright Business Wire 2009 . * Q2 adj EPS $0.72 vs est $0.49: Reuters Estimates Stocks  |  China * Q2 rev $498.7 mln vs est $534.7 mln * Shares up 9 pct (Adds conference call details, share movement, analystcomments) July 17 (Reuters) - A.O . Buyers getdirect access to an $18 trillion new investable asset; Sellers gain access to anew competitive working capital management solution by having their receivablesbid on in real-time by multiple Buyers. The Exchange connects a global networkof accredited institutional investors (Buyers) to the nation`s millions of smalland mid-sized businesses (Sellers) in search of capital to grow.

About The Receivables ExchangeThe Receivables Exchange () is the world`s firstonline marketplace for real-time trading of accounts receivable michael young autograph . Changing thelandscape of small business financing, The Receivables Exchange provides a newdimension in working capital management . "It reduces the wait for payment from 50 days to as little as 24hours and allows them to quickly improve their cash liquidity." For more information on the struggles facing small and mid-sized businessesfollow The Receivables Exchange blog, Capital Matters . Small businesses can nowlook past the looming economy and focus on the day-to-day operations of theircompany." "Instead of the typical 50 - 60 days that most companies wait for theiroutstanding invoices to be paid, at The Receivables Exchange, companies can posttheir receivables one day and receive their funds the next business day," addedMr Brownhill . The Receivables Exchange provides a flexible,alternative source of small business financing.

"Now more than ever, businesses are eager for an alternative financing source,"says Nic Perkin, co-founder and president of The Receivables Exchange texas rangers . "For thefirst time we put businesses back in control of their cash flow so that they areless reliant on a single-source provider of liquidity . At The Receivables Exchange, small and midsize businesses can selltheir receivables on its online marketplace to a global network of majorinstitutional investors . "We welcome small and mid-market businesses nationwideto The Receivables Exchange to help them solve their short-term financing needsthrough our market-based solution that can be counted on to provide adiversified source of liquidity at competitive rates." The Receivables Exchange has experienced growth of 300% in accounts receivablefinancing on the company`s receivables trading auction platform over the pastquarter . As theeconomy falters and large finance organizations become less reliable, small andmid-market businesses have begun to seek out alternative sources of financing.As recently reported by The Receivables Exchange`s second quarter 2009 Cash FlowIndex, small and mid-market businesses are signing up to tap into the $20billion of liquidity available on the Exchange`s centralized marketplace forreceivables financing. "In the current economic climate, SMBs are already operating under a tremendousnumber of constraints while trying to effectively run their businesses, and adisruption of this magnitude could result in a costly and potentially perilousdistraction," said Justin Brownhill, co-founder and chief executive officer ofThe Receivables Exchange. These documents have been filed with the Canadian securitiescommissions and are available on our website () and onSEDAR ().Copyright Copyright TECSYS Inc 2009.

All names, trademarks, products,and services mentioned are registered or unregistered trademarks of theirrespective owners.Contacts:TECSYS Inc.514-866-0001 or 800-922-8649Solutions and general info: Investor relations: Media relations: Copyright 2009, Market Wire, All rights reserved.-0- texas rangers badge . With $20 Billion in liquidity, The Receivables Exchange is an open door ofopportunity in a time of financial obstaclesNEW ORLEANS--(Business Wire)--With small and mid-size businesses (SMBs) already feeling the pain of the creditcrunch for some time now, the instability of CIT represents yet another blow tothe financing sources of the small and mid-market business community . Moreinformation about the risks and uncertainties associated with TECSYSInc.'s business can be found in the MD&A section of the Company's annualreport and annual information form for the fiscal year ended April 30th,2008 . TECSYS' shares are listed on the Toronto Stock Exchange underthe ticker symbol TCS.The statements in this news release relating to matters that are nothistorical fact are forward looking statements that are based onmanagement's beliefs and assumptions . Such statements are not guaranteesof future performance and are subject to a number of uncertainties,including but not limited to future economic conditions, the markets thatTECSYS Inc.