Companies news of 2006-12-22 (page 1)

  • Envoy Communications Group Inc. announces formation of soliciting dealer group under...
  • Synergx Systems Inc. Announces Fourth Quarter and Twelve Month Results
  • TTI Announces Acquisition By Berkshire Hathaway
  • Panasonic Names John Iacoviello to Lead Combined Sales, Marketing Functions
  • Flemington's Christine Horbacz Awarded Verizon Wireless HopeLine Hero AwardCompany donates...
  • Inter-Tel(R) 7000 Receives Internet Telephony Excellence AwardState-of-the-Art IP...
  • Broadband Wireless Network Speeds Into Metropolitan Fresno, CaliforniaVerizon Wireless...
  • Lockheed Martin Delivers Key Hardware for Third Advanced EHF Military Communications...
  • Integrated Management Information (IMI Global) Closes $571,000 Private Placement of Common...
  • Qiao Xing Universal Telephone, Inc. Releases Its Income Statement for the Three Months...
  • EDS' Eight Financial Services 2007 Trends: Resolutions for a Financially Good Year
  • Microsoft Extends Xbox 360 Warranty to One YearShoppers can buy with added confidence this...
  • Ness Technologies Wins Multi-Million Dollar Contract With Quintiles Transnational Corp.
  • AsiaInfo to Announce Fourth Quarter And 2006 Year-End Results on January 24, 2007
  • Bally Technologies Announces Business UpdateCompany Files Form 10-Q for First Two Quarters...
  • AsiaInfo Enhances Beijing Mobile's Business Intelligence System
  • XRT : signature d'un accord de cession des activites liées aux progiciels TWS et Globe$
  • Insure.com, Inc. Announces Trading Symbol Change to NSUR Effective January 8, 2007
  • S1 Corporation Announces Final Results of Tender Offer
  • QUALCOMM Updates Financial Guidance for the First Fiscal Quarter of 2007
  • Adelphia Announces Additional Information on Timing of Decision on Confirmation of Plan of...
  • QUALCOMM Updates Financial Guidance for the First Fiscal Quarter of 2007
  • Silicon Image and Genesis Microchip Sign Settlement and License Agreement; Silicon Image...



    Envoy Communications Group Inc. announces formation of soliciting dealer group under substantial issuer bid

    TORONTO, Dec. 22 /PRNewswire-FirstCall/ -- Envoy Communications Group Inc. announced today that Canaccord Capital Corporation, the dealer manager under the Company's offer to purchase up to 8.5 million common shares of the Company at a price of not more than US$2.70 per share and not less than US$2.55 per share (the "Offer"), has formed a soliciting dealer group to solicit tenders of common shares under the Offer.

    The Company has agreed to pay to each soliciting dealer a solicitation fee of $0.07 per common share tendered by each client of such soliciting dealer, subject to a minimum fee of $70.00 and a maximum fee of $1,000.00 with respect to each beneficial owner of common shares. No solicitations will be made in the United States, nor will any solicitation fees be payable in respect of deposits by U.S. shareholders. Inquiries regarding the soliciting dealer group may be directed to Cameron McDonald (Tel.: (514) 284-1467) or Francois Carrier (Tel.: (514) 844-3970) at Canaccord Capital Corporation.

    The Offer will expire at 5:00 p.m. (Toronto time) on December 29, 2006, unless the Offer is extended by the Company.

    This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Envoy common shares. The solicitation and the offer to buy Envoy common shares is only made pursuant to a separate offer to purchase and issuer bid circular, and related materials. Envoy has filed the offer to purchase, issuer bid circular and related documents with Canadian securities regulatory authorities and the Tender Offer Statement on Schedule TO with the United States Securities and Exchange Commission (the "SEC"). Shareholders should carefully read the Tender Offer Statement (and all amendments thereto), the offer to purchase and issuer bid circular, the related letter of transmittal, the notice of variation and extension and other related materials because they contain important information, including the various terms and conditions of the offer. The Tender Offer Statement is also available at no charge at the SEC's website at http://www.sec.gov/. and the website of the Canadian securities administrators at http://www.sedar.com/. Shareholders are urged to read these materials carefully prior to making any decision with respect to the tender offer.

    About Envoy

    Envoy Communications Group Inc. businesses include the Watt Group, an international consumer and retail branding group of companies, and Envoy Capital Group, a merchant banking and financial services company. For more information on Envoy Communications Group Inc., visit our website at http://www.envoy.to/

    Cautionary Statement

    Certain statements contained in this press release may constitute "forward-looking statements" or "forward-looking information" within the meaning of Section 21E (i) (1) of the United States Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events or Envoy's actual results to be materially different from any events or future results expressed or implied by these statements. Such factors include but are not limited to, the following: general economic and business conditions, changes in demand for Envoy's services, changes in competition, the ability of Envoy to integrate acquisitions or complete future acquisitions, interest rate fluctuations, currency exchange rate fluctuations, volatility in the market price of Envoy's common shares, there is no assurance that regulatory approvals or exemptions will be obtained or offer conditions will be satisfied, the extent to which holders of common shares determine to tender their shares to any offer, dependence upon and availability of qualified personnel and changes in government regulation. In light of these and other uncertainties, the forward-looking statements included in this press release should not be regarded as a representation by Envoy that Envoy's plans and objectives will be achieved. These forward-looking statements speak only as of the date of this press release, and we undertake no obligation to update or revise the statements.

    Envoy Communications Group Inc.

    CONTACT: Envoy Communications Group Inc., Contact: Geoffrey Genovese,
    Tel: (416) 593-1212; Or contact our investor relations department at:
    info@envoy.to




    Synergx Systems Inc. Announces Fourth Quarter and Twelve Month Results

    SYOSSET, N.Y., Dec. 22 /PRNewswire-FirstCall/ -- Synergx Systems Inc. reported the following results for its fourth quarter and twelve month period ended September 30, 2006 and 2005:

    THREE MONTHS TWELVE MONTHS 2006 2005 2006 2005 Revenues $4,455,000 $5,119,000 $15,826,000 $17,630,000 (Loss)Income From Continuing Operations Before Interest, Equity Investment And Taxes 2,000 139,000 (398,000) 293,000 Interest (Expense) (25,000) (32,000) (106,000) (110,000) (Loss) on Equity Investment (377,000) (21,000) (437,000) (76,000) (Loss) Income Before Taxes from Continuing operations (400,000) 86,000 (941,000) 106,000 Net (Loss) Income from continuing operations (284,000) 46,000 (613,000) 50,000 Net (Loss) Income from discontinued operation (33,000) 143,000 (132,000) 80,000 Net (Loss) Income (317,000) 189,000 (745,000) 130,000 Diluted Earnings (Loss) per Share Continuing Operations ($.05) $.01 ($.12) $.01 Discontinued Operations ($.01) $.03 ($.02) $.02 Net (loss) Income ($.06) $.04 ($.14) $.03 Weighted Average Common and Potential Dilutive Common Shares Outstanding 5,210,950 5,192,118 5,206,453 5,193,276

    The decrease in revenues and gross profit from continuing operations during the three and twelve month periods ended September 30, 2006 resulted primarily from lower shipments of transit products that reflected a lower level of orders and the timing of releases required by customers. Due to the retirement of key personnel involved in transit work, the Company substantially overhauled the management structure and marketing strategies for transit products. Due to the lead time to secure transit projects, the restructuring and marketing strategies did not result in shipments during 2006, however, the Company has recently booked a number of large jobs and is finalizing and/or quoting significant additional work much of which will be shipped during the 2007 fiscal year.

    The 2006 twelve months period was impacted by $270,000 of higher than normal expenses due to restructuring in 2006 and consists of $29,000 of additional recruitment fees (total of $104,000 in 2006), $176,000 of budgeted severance costs, $41,000 of additional computer consulting costs to upgrade the Company's information technology system, and $24,000 of additional professional fees related to the sale of discontinued operations in Dallas and employment compliance regarding staff reductions.

    In May 2006, the Company's wholly owned subsidiary, General Sound (Texas) Company that operated in Dallas/Ft. Worth, Texas sold its inventory, property, trade name, business and operations and received cash proceeds from the buyer of $518,000. These operations are shown as discontinued operations and the 2006 twelve month period includes a gain of $197,000 ($130,000 after income taxes) on the sale of the assets. The prior year periods for continuing operations have been adjusted to reflect this sale.

    The Company recorded a loss of $437,000 on its equity investment in and notes receivable from Secure 724 mostly due to its decision to impair the investment and notes, compared to a loss of $76,000 in 2005. The Company is negotiating to sell its interest in Secure 724, however, there is no assurance that the sale will be effected.

    Management commented "2006 was a year of transition as we changed managers, IT systems, sales and marketing and project management personnel and procedures and overall radically changed the way we do business. The Board decided to sell the Dallas operation and impair the investment in the wireless technology company in Canada to focus on our core systems integration business in New York. While our performance in 2006 was disappointing, after eliminating the impact of the discontinued operations and the impairment of the investment and recognizing that approximately $270,000 of costs directly related to the above restructuring, our loss in 2006 was manageable. With our increasing order position and growing service revenues we do expect stronger revenues, which together with relatively fixed overhead should result in a return to profitability. To that end, we are realizing significant marketing success related to transit infrastructure including ship terminals, airport facilities and subway projects. The retooling of our transit unit has resulted in large bookings with the NYCTA and we expect that we have an opportunity to play a key role in the major transit projects facing New York City over the next few years".

    Synergx is engaged in the design, manufacture, marketing and service of a variety of data communication products and systems with applications in the fire alarm, life safety, security and communication industries. For further information about Synergx please go to our website at WWW.SYNERGXSYSTEMS.COM

    "Safe Harbor" statement under the Private Securities Reform Act of 1995: This release contains forward-looking statements, which reflect management's current views of future events and operations. These forward-looking statements are based on assumptions and external factors, including assumptions relating to product pricing, competitive market conditions, financial data, and other risks or uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release and any changes in the assumptions of external factors could produce significantly different results.

    Synergx Systems Inc.

    CONTACT: Corporate, John Poserina, Chief Financial Officer,
    +1-516-433-4700

    Web site: http://www.synergxsystems.com/




    TTI Announces Acquisition By Berkshire Hathaway

    FORT WORTH, Texas and OMAHA, Neb., Dec. 22 /PRNewswire/ -- TTI, Inc. and Berkshire Hathaway Inc. (NYSE: BRK.A; BRK.B) announced today that they have entered into a definitive agreement pursuant to which Berkshire Hathaway will acquire TTI, Inc., a privately held electronic component distributor headquartered in Fort Worth, Texas. The acquisition will also include TTI's subsidiary Mouser Electronics. The terms of the transaction were not disclosed.

    TTI, Inc. will operate as a wholly owned subsidiary of Berkshire Hathaway. TTI's management will remain in place and will continue to run TTI's day to day activities. Paul Andrews will continue in his current capacity as Chairman and Chief Executive Officer. Operations will not be affected by the ownership change. The acquisition is subject to customary closing conditions along with the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is expected to close during the first quarter of 2007.

    Warren Buffett, Berkshire Hathaway's Chairman and Chief Executive Officer, stated, "Paul Andrews is a remarkable man who has built an outstanding business. We are pleased to have the opportunity to add TTI to the Berkshire Hathaway Group."

    Paul Andrews, TTI's founder, Chairman, and Chief Executive Officer, said, "It is a real honor for TTI and Mouser to become part of the Berkshire Hathaway Group. Berkshire is recognized as being one of the most admired companies in the world. They take a long term view of the business and will allow TTI to continue with our growth plans. They have an excellent reputation and fit very well with TTI's values. TTI has enjoyed a successful 35 years and I am confident in our future as being part of Berkshire Hathaway."

    TTI and Mouser have enjoyed consistent growth for many years and are embarking on a growth strategy that includes international expansion and new product expansion, along with the addition of several key franchise additions. Today, TTI operates in over 19 countries with over 50 branch locations. In addition, Mouser has recently completed a major facility expansion which has more than doubled its capacity.

    About Berkshire Hathaway:

    Berkshire Hathaway and its subsidiaries engage in a number of diverse business activities including property and casualty insurance and reinsurance, utilities and energy, finance, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B. For more information about Berkshire Hathaway visit http://www.berkshirehathaway.com/ .

    About TTI, Inc.

    Headquartered in Fort Worth, Texas, TTI, Inc. is the largest distributor specialist of passive, interconnect and electromechanical components. TTI is the distributor of choice for industrial and consumer electronic manufacturers worldwide. TTI's extensive product line includes: resistors, capacitors, connectors, potentiometers, trimmers, magnetic and circuit protection components, wire and cable, identification products, application tools and electromechanical devices. TTI is recognized as the industry's leader in service and quality and provides a broad array of supply chain services to their customer base. TTI employs 1,700+ with more than 50 locations throughout North America, Europe and Asia. For more information about TTI visit http://www.ttiinc.com/ .

    About Mouser

    Mouser Electronics, Inc. is an electronic component distributor, focused on the rapid introduction of new products and technologies to electronic design engineers. Mouser.com features over 730,000 products online from more than 300 manufacturers. Mouser's 1,800+ page catalog is published every 90 days, providing designers with up-to-date data on the components now available for the next generation of electronic devices. Mouser ships globally to over 280,000 customers in 170 countries from its 432,000 sq. ft. state-of-the-art facility in Mansfield, Texas. For more information, visit http://www.mouser.com/ .

    TTI, Inc.

    CONTACT: Cathy Walensky of TTI, Inc., +1-817-740-9000

    Web site: http://www.ttiinc.com/
    http://www.berkshirehathaway.com/
    http://www.mouser.com/




    Panasonic Names John Iacoviello to Lead Combined Sales, Marketing Functions

    SECAUCUS, N.J., Dec. 22 /PRNewswire/ -- Panasonic Consumer Electronics Company has named John Iacoviello President of the company's newly consolidated Sales & Marketing Group. Mr. Iacoviello is currently Senior Vice President in charge of the Product and Marketing Group, which will be incorporated into the new structure.

    "This management change enables us to show a single face to our channel partners and customers," said Panasonic Consumer Electronics Company President Martin Kono. "And in addition, it will speed up decision-making and communication within Panasonic's supply chain. John Iacoviello has just the right combination of marketing leadership and sales experience to make this newly consolidated group successful."

    "Panasonic is a technology leader, with the best Plasma TVs, digital cameras and optical disc products on the market," Mr. Iacoviello said. "I look forward to this opportunity to work even more closely with our channel partners."

    About Panasonic Consumer Electronics Company

    Based in Secaucus, N.J., Panasonic Consumer Electronics Company is a division of Panasonic Corporation of North America, the principal North American subsidiary of Matsushita Electric Industrial Co. Ltd. and the hub of Panasonic's U.S. marketing, sales, service and R&D operations. For more information about Panasonic, its leadership in Plasma TV and other digital products visit http://www.panasonic.com/. Additional company information for journalists is available at http://www.panasonic.com/pressroom.

    Panasonic Consumer Electronics Company

    CONTACT: Chris Demaria, +1-201-348-7182, DemariaC@us.panasonic.com, or
    Jeff Samuels, +1-201-392-4571, samuelsj@us.panasonic.com, both of Panasonic

    Web site: http://www.panasonic.com/




    Flemington's Christine Horbacz Awarded Verizon Wireless HopeLine Hero AwardCompany donates $1,000 to Women's Crisis Services

    MORRISTOWN, N.J., Dec. 22 /PRNewswire/ -- Christine Horbacz, of Flemington, New Jersey, was named a Verizon Wireless HopeLine(R) Hero in recognition of her outstanding support of the company's HopeLine Phone Recycling Program, which turns no-longer-used cell phones into grants and services for domestic violence survivors.

    Horbacz has been instrumental in managing the company's HopeLine program for the entire Northeast area, from Maine to Virginia, for the past two years. Her commitment to the success of the program represents not simply dedication to her job, but to doing the right thing for society.

    At a recent ceremony, Horbacz was presented with a plaque and a check for $1,000, which will be donated in her name to the Women's Crisis Services, one of the county's leading providers of safe haven and caring services to survivors of domestic violence. In addition to the $1,000, Verizon Wireless has donated 25 wireless phones and free airtime to the agency to lend to survivors of domestic violence who are still at risk. The phones will allow the women to call for help in emergencies and to make phone calls necessary to find employment and housing free from the abusers.

    The donation was made possible through the company's HopeLine phone recycling program. No-longer-used wireless phones, collected at Verizon Wireless Communications Stores throughout the New York Metro area, are refurbished, recycled or sold and the proceeds are donated to domestic violence advocacy groups or used to purchase wireless phones for victims. Phones that cannot be refurbished are disposed of in an environmentally friendly manner.

    "The HopeLine Phone Recycling program is effective because of individuals, businesses and communities dedicated to the prevention of domestic violence," said Charles Hand, president of the company's New York Metro Region. "It takes time, energy and effort to organize and execute wireless phone drives. We created the HopeLine Hero Award to express our gratitude to dedicated people like Christine, who have gone above and beyond to support the program and the domestic violence survivors it benefits."

    In addition to a successful phone recycling program, HopeLine includes free wireless phones, service and voice mailboxes for survivors, community and corporate awareness initiatives, and a bilingual "Invest in Yourself" program designed to help survivors develop readiness skills.

    Since 1999, three million used wireless phones have been recycled or refurbished and sold through the Verizon Wireless national HopeLine program with more than 600,000 donated phones recycled. Verizon Wireless has distributed nearly $10 million in cash grants and wireless service to domestic violence prevention and awareness programs across the country.

    Phone donations are accepted at 139 Verizon Wireless Communications Stores in the New York Metro area. For store locations and additional information, visit http://www.verizonwireless.com/hopeline.

    Verizon Wireless also offers customers a quick and easy way to access professional and confidential help through the National Domestic Violence Hotline. Any victim or anyone looking for information on the issue can dial #HOPE (#4673) from any Verizon Wireless phone to reach the hotline. The call is toll and airtime free.

    About Verizon Wireless

    Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 57 million customers. The largest US wireless company and largest wireless data provider, based on revenues, Verizon Wireless is headquartered in Basking Ridge, NJ, with 60,000 employees nationwide. The company is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). Find more information on the Web at http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

    Verizon Wireless

    CONTACT: David Samberg, +1-845-365-7212,
    david.samberg@verizonwireless.com, or Kimberly Ancin, +1-845-329-5429,
    kimberly.ancin@vivianipr.com

    Web site: http://www.verizonwireless.com/




    Inter-Tel(R) 7000 Receives Internet Telephony Excellence AwardState-of-the-Art IP Communications System Also Named 'Best in Show' at IT Expo West

    TEMPE, Ariz., Dec. 22 /PRNewswire-FirstCall/ -- Inter-Tel (Delaware), Incorporated , a leading communications provider, announced that its new Inter-Tel(R) 7000 standards-based communications system has been named a recipient of Technology Marketing Corporation's (TMC) Internet Telephony Excellence Award. The Inter-Tel 7000 was also selected "Best in Show" at the Internet Telephony Conference & Expo held in San Diego this past October.

    "Inter-Tel has done a remarkable job in developing a pure standards-based, IP solution that delivers the functionality, reliability and security that businesses demand," remarked Rich Tehrani, president of TMC. "The Inter-Tel 7000 is certainly a prime example of excellence in IP communications."

    Serving businesses with up to 2,500 users per site, the Inter-Tel 7000 is one of the first business communications systems developed with SIP (Session Initiation Protocol) at the core. The system offers PBX-style functionality and is designed to feature a number of advanced capabilities, such as embedded presence management tools and mobility features. As a standards-based system, the Inter-Tel 7000 gives customers the flexibility to integrate existing and future standards-based devices and applications into their infrastructure.

    "We are delighted that the Inter-Tel 7000 is generating so much interest and excitement among industry analysts, media, channel partners and, most importantly, customers," remarked Craig W. Rauchle, president and chief operating officer for Inter-Tel. "We believe they recognize that this platform represents a new direction for businesses looking to leverage the power of IP communications both now and into the future."

    "Our company had the foresight and courage to invest over three years and tens of millions of dollars in developing a next-generation system that we believe will help redefine enterprise communications," noted Jeffrey T. Ford, Inter-Tel's chief technology officer. "We are extremely proud that this investment has become reality. We believe the Inter-Tel 7000 offers a compelling solution that can help businesses meet communications requirements through advanced technology designed to improve business performance."

    This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and 21E of the Securities Exchange Act of 1934, including statements regarding the features and capabilities of the Inter-Tel 7000, as well as statements regarding a next-generation system that will help redefine enterprise communications and one that offers a compelling solution that can help businesses meet communications requirements through advanced technology designed to improve business performance. Such statements are based on current assumptions that involve risks and uncertainties that include, among others, dependence on new product or software development; the presence of software "bugs"; market acceptance of the product and related software; and intended uses identified above. For a further list and description of such risks and uncertainties, which could cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements, please see the Company's Form 10-K, filed with the SEC on March 16, 2006, other subsequently filed current and periodic reports, and the Company's most recent Form 10-Q dated November 9, 2006. Inter-Tel disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All products and services mentioned are the trademarks, service marks, registered marks or registered service marks of their respective owners.

    About Inter-Tel (Delaware), Incorporated

    Inter-Tel offers value-driven communications products; applications utilizing networks and server-based communications software; and a wide range of managed services that include voice and data network design and traffic provisioning, custom application development, and financial solutions packages. An industry-leading provider focused on the communication needs of business enterprises, Inter-Tel employs approximately 1,900 communications professionals, and services business customers through a network of 58 company-owned, direct sales offices and approximately 300 authorized providers in North America, the United Kingdom, Ireland, Australia and South Africa. More information is available at http://www.inter-tel.com/.

    Inter-Tel

    CONTACT: Norman Stout, CEO, +1-480-449-8900, or Craig W. Rauchle,
    President and COO, +1-775-954-1200, or Jeffrey T. Ford, Sr. Vice President and
    CTO, +1-480-449-8900, or Kurt R. Kneip, Sr. Vice President and CFO,
    +1-480-449-8900, or Jeanne Leckie, Vice President of Marketing,
    +1-480-961-9000, all of Inter-Tel

    Web site: http://www.inter-tel.com/




    Broadband Wireless Network Speeds Into Metropolitan Fresno, CaliforniaVerizon Wireless gives customers access to high-speed wireless Internet, e-mail, mobile music and more

    WALNUT CREEK, Calif., Dec. 22 /PRNewswire/ -- Customers in Fresno's metropolitan area in Northern California can now access the latest high-speed business and entertainment services on their wireless phones, laptop computers, and other wireless devices thanks to Verizon Wireless.

    New capabilities come with the downtown Fresno expansion of the company's Evolution-Data Optimized (EV-DO) network, enabling both its BroadbandAccess and V CAST services. Verizon Wireless' EV-DO coverage will be available throughout Fresno before the end of this year. The service is already available in the San Francisco Bay Area, Sacramento, the Central Valley and Bakersfield, among other Northern California and Nevada markets.

    "This expansion is part of our ongoing network investment," said Rich Garwood, Northern California/Nevada regional president for Verizon Wireless. "We're committed to providing innovative high-speed data services to our customers across the country and right here in Northern California."

    BroadbandAccess

    BroadbandAccess provides on-the-go professionals with full, mobile access to their corporate information as if they were attached to the information via a high-speed wired connection. Users can conduct business anytime, anywhere in the BroadbandAccess coverage area via a secure, true high-speed data connection.

    With average access speeds of 400-700 kilobits per second (kbps), users can download a 1 Megabyte e-mail attachment - the equivalent of a small PowerPoint(R) presentation or a large PDF file - in about 20 seconds.

    Connecting to BroadbandAccess is easy, using a PC Card that slides directly into most laptop computers, through an integrated option on select notebook computers or by connecting a laptop to a BroadbandAccess-capable PDA or phone.

    V CAST

    V CAST, the nation's first wireless broadband multimedia service for consumers, offers the most comprehensive selection available of music, videos and 3D games on demand. Users can stream video clips (up to five minutes long) of the hottest entertainment, music videos, movie trailers, sports highlights, news and breaking weather directly to their Verizon Wireless V CAST-capable phone.

    With V CAST Music, customers can browse and download songs from the V CAST Music library of more than 1.5 million songs directly onto their V CAST Music- enabled phone or Windows(R) XP-enabled PC. They can also transfer music from their PC to their V CAST Music-enabled phone and take their tunes with them without a second device.

    In California, the company has invested nearly $4 billion since the year 2000 - part of its $35 billion nationwide network investment over the last seven years to increase the coverage and capacity of its national network and to add new services.

    Coverage

    With the launch, Verizon Wireless' EV-DO coverage in metropolitan Fresno now includes:

    * City of Fresno * Yosemite International Airport * River Park Shopping Mall * Manchester Center * Sierra Vista Mall * Fashion Fair Mall * Fresno State University

    Verizon Wireless was the first national wireless provider to launch a high-speed wireless broadband network commercially in the United States. Verizon Wireless' EV-DO network coverage area covers more than 150 million Americans.

    BroadbandAccess customers who travel outside the coverage area with an EV- DO-capable device will switch seamlessly to Verizon Wireless' existing NationalAccess network that offers average data transmission speeds between 60 and 80 kbps, with bursts up to 144 kbps.

    BroadbandAccess and V CAST pricing and product information is available at http://www.verizonwireless.com/.

    About Verizon Wireless

    Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 57 million customers. The largest US wireless company and largest wireless data provider, based on revenues, Verizon Wireless is headquartered in Basking Ridge, N.J., with 60,000 employees nationwide. The company is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). Find more information on the Web at http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

    Verizon Wireless

    CONTACT: Heidi Flato, +1-925-279-6545, Heidi.Flato@verizonwireless.com

    Web site: http://www.verizonwireless.com/




    Lockheed Martin Delivers Key Hardware for Third Advanced EHF Military Communications SatelliteMajor Delivery Milestones on First AEHF Satellite Planned for Early 2007

    SUNNYVALE, Calif., Dec. 22 /PRNewswire-FirstCall/ -- Lockheed Martin today announced that it has delivered ahead of schedule the flight structure for the third space vehicle in the Advanced Extremely High Frequency (AEHF) program to the company's Mississippi facility for integration with its propulsion subsystem. AEHF satellites will provide global, highly secure, protected, survivable communications for warfighters in all services within the Department of Defense.

    Over the next several months, a team of engineers and technicians at Lockheed Martin's Mississippi Space & Technology Center, an advanced propulsion, thermal, and metrology facility located at the John C. Stennis Space Center, will integrate the spacecraft's propulsion subsystem, which is essential for maneuvering the satellite during transfer orbit to its final location as well as conducting on-orbit operations and repositioning maneuvers throughout its mission life.

    AEHF satellites are based on Lockheed Martin's flight-proven A2100 geosynchronous spacecraft series and will deliver 10 times greater total capacity and channel data rates six times higher than that of Milstar II communications satellites. The higher data rates permit transmission of tactical military communications such as real-time video, battlefield maps and targeting data.

    Lockheed Martin is currently under contract to provide three Advanced EHF satellites and command control system to its customer, the Military Satellite Communications Systems Wing at the Air Force's Space and Missile Systems Center, Los Angeles, Calif. The contract for a third AEHF spacecraft was awarded early this year.

    "Delivery of the third AEHF flight structure in just 10 months since contract start is a significant achievement and reflects the team's commitment to successfully executing this critical program," said Julie Sattler, vice president, Lockheed Martin Space Systems. "AEHF will provide unprecedented communications capabilities to the warfighter and we look forward to achieving mission success for our customer."

    Production of the first two satellites is also progressing on-schedule. In early 2007, the integrated propulsion module for the first AEHF space vehicle is scheduled for delivery from Mississippi to Lockheed Martin's facilities in Sunnyvale, Calif. Northrop Grumman Space Technology, Redondo Beach, Calif., the AEHF payload provider, is also on track to ship the first payload module to Sunnyvale early next year.

    With the propulsion module and payload in place, the team will begin final assembly, integration and test in preparation for launch in April 2008. Development of the second AEHF satellite is following close behind and proceeding on schedule for launch in April 2009.

    Lockheed Martin Space Systems Company, a major operating unit of Lockheed Martin Corporation, designs, develops, tests, manufactures and operates a full spectrum of advanced-technology systems for national security, civil and commercial customers. Chief products include human space flight systems; a full range of remote sensing, navigation, meteorological and communications satellites and instruments; space observatories and interplanetary spacecraft; laser radar; fleet ballistic missiles; and missile defense systems.

    Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2005 sales of $37.2 billion.

    Contact: Steve Tatum, +1-408-742-7531, or Stephen.o.tatum@lmco.com.

    Lockheed Martin

    CONTACT: Steve Tatum, +1-408-742-7531, or Stephen.o.tatum@lmco.com

    Web site: http://www.lockheedmartin.com/




    Integrated Management Information (IMI Global) Closes $571,000 Private Placement of Common Stock

    CASTLE ROCK, Colo., Dec. 22 /PRNewswire-FirstCall/ -- Integrated Management Information, Inc. (IMI Global) (BULLETIN BOARD: INMG) , a leading provider of verification and Internet solutions for the agricultural/livestock industry, today announced it has closed a private placement in which it raised $571,000 in exchange for 905,768 shares of common stock.

    John Saunders, president and CEO of IMI Global, said proceeds from the private placement would support the Company's growth initiatives. "This additional capital was necessary to strengthen our balance sheet and support growth initiatives that we'll be rolling out in 2007," Saunders said. "As indicated by our recent third quarter and year-to-date results, IMI Global is on an aggressive growth path driven by strong customer demand for our core verification and Internet solutions. Our growth plans in 2007 call for enhancements to our verification service offerings as well as introduction of new revenue streams on the Internet side of the business. We are optimistic about achieving strong year-over-year revenue growth in 2007 and building long-term value for our customers and shareholders."

    About IMI Global

    Founded in 1995, IMI Global is a leading provider of verification and Internet solutions for the agricultural/livestock industry. Go to http://www.imiglobal.com/ for additional information. IMI has worked with some of the largest agricultural organizations in the United States, providing web-based applications for verification and identification as well as a range of consulting services tailored to meet each customer's needs. IMI operations include CattleNetwork.com, an online service offering market information and industry news to the cattle industry, and CattleStore.com, an online source for livestock supplies, such as animal identification, medical equipment and veterinarian supplies. Additional IMI web sites include USVerified.com and AgNetwork.com.

    CAUTIONARY STATEMENT

    This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Forward- looking statements are inherently uncertain, and actual events could differ materially from the Company's predictions. Important factors that could cause actual events to vary from predictions include those discussed in our SEC filings. Specifically, statements in this news release about revenue growth, introduction of new revenue streams, building value, the impact and efficacy of, and demand for, the Company's products and services in the marketplace, are forward-looking statements. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update its forward-looking statements to reflect new information or developments. For a more extensive discussion of the Company's business, please refer to the Company's SEC filings at http://www.sec.gov/.

    Integrated Management Information, Inc.

    CONTACT: John Saunders, Chief Executive Officer of Integrated Management
    Information, Inc., +1-303-895-3002; or Jay Pfeiffer of Pfeiffer High Investor
    Relations, Inc., +1-303-393-7044, for Integrated Management Information, Inc.

    Web site: http://www.imiglobal.com/




    Qiao Xing Universal Telephone, Inc. Releases Its Income Statement for the Three Months Ended September 30, Balance Sheet as at June 30, 2006 and Income Statement for the Six Months Ended June 30, 2006, and Provides an Update on an Acquisition

    HUIZHOU, Guangdong, China, Dec. 22 /Xinhua-PRNewswire/ -- Qiao Xing Universal Telephone, Inc. releases today its Un-audited Income Statement for the Three Months Ended September 30, Un-audited Balance Sheet as at June 30, 2006 and Income Statement for the Six Months Ended June 30, 2006, and provides an update on the acquisition of the remaining 20% equity in Qiao Xing Mobile Communication Co., Ltd.

    Un-audited Income Statement for the Three Months Ended September 30

    For the third quarter of 2006, XING's sales revenue, income from operations and net income all increased significantly to reach USD107.7 Million, USD21.0 Million and USD13.2 Million respectively. The significant growth was primarily driven by the popularity of the "CECT" branded 'A1000' and 'IP1000' Models and the increasing brand recognition and the expanding distribution network of its 'COSUN' branded mobile phones business. The Basic earnings per common share after extraordinary gain for the third quarter was USD56 cents. The Un-audited Income Statement for the Three Months Ended September 30 can be found in Appendix I below

    Un-audited Balance Sheet as at June 30, 2006 and Income Statement for the Six Months Ended June 30, 2006

    For the six months ended June 30, 2006, the company recorded USD177.5 million, USD15.4million and USD12.5 million for its Net sales, Income from operations and net income before option charge respectively.

    In the first half of 2006, the Company granted to certain employees and an external consultant stock options to purchase all the 2,000,000 shares of common stock authorized and reserved for issuance under the Stock Compensation Plan set up in 2005.

    Mr. Wu Rui Lin, Chairman of XING, said, "The granting of stock options, though representing an expense in the income statement and having a dilutive effect on earnings, has the advantage of not involving any outflow of cash. In fact, for some senior employees, the lion's share of their total remuneration package is in stock options. The share-based compensation recorded for 2006 H1 related to the 2005 Plan, and was for services rendered over a long period of time.

    "There are many different approaches to the treatment of options. The Black-Scholes Model has been used for the income statement for the six months ended June 30, 2006 of XING presented in this press release. RMB 58.4 million (USD 7.3 million) of share-based compensation expenses has been recorded as a result.

    "However, as all the options to purchase 2,000,000 shares were exercised within a very short period of time (less than two months) of their grant, a case can be made for using the intrinsic value method for compensation cost measurement. Intrinsic value is the excess of the market price of the underlying stock over the exercise price of a related stock option. "Using the Black-Scholes Model, the net income was $5.2 million. Using the intrinsic value approach, the net income would have been $ 12.5 million instead. No matter which approach to use, it has no impact on the cash flow situation of the company."

    For nine months ended September 30, 2006, the company recorded net sales of US$285.2 million and income from operation of US$36.3 million. Net income and basic earnings per share were US$18.4 million and USD 80 cents respectively using the Black-Scholes Model. If the intrinsic value method had been used, they respectively would have been US$25.7 million and USD1.13 instead.

    The un-audited consolidated balance sheet as at June 30, 2006 and the un- audited consolidated income statement for the six months ended June 30, 2006 can be found in Appendix II below

    Other Event

    In November, the Company completed the acquisition from the minority shareholder of the remaining 20% equity in Qiao Xing Mobile Communication Co., Ltd, an investment holding company that owns 93.4% of the equity interests in the mobile phone handset maker CEC Telecom Co., Ltd. (CECT). As a result, Qiao Xing Universal's effective shareholding in CECT has increased from 74.7% to 93.4%.

    On a pro forma basis assuming that the transaction had taken place on January 1, 2006, it would increase the net income of the company for the nine months ended September 30, 2006 to USD 24.8 million using the Black-Scholes Model for the measurement of stock-based compensation cost. If the intrinsic value method had been used, it would have been USD 32.1 million instead.

    Appendix I QIAO XING UNIVERSAL TELEPHONE, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS AND NET INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2006 2006 Q3 Rmb'000 US$'000 (Un-audited) (Un-audited) Net sales 851,236 107,697 Cost of goods sold (659,771) (83,473) Gross profit 191,465 24,224 Operating expenses: Selling expenses (8,826) (1,117) General, administrative and R&D expenses (14,465) (1,830) Amortization of acquired intangible assets (2,405) (304) Income from operations 165,769 20,973 Interest expense, net (12,880) (1,630) Exchange gain, net 4,425 560 Amortization of discount on bonds (9,489) (1,201) Other expenses, net (249) (32) Income before income tax 147,576 18,671 Provision for income tax (23,804) (3,012) Income before minority interests 123,771 15,659 Minority interests (34,219) (4,329) Net income before extraordinary item 89,552 11,330 Extraordinary item - gain on acquisition of additional equity interest in a subsidiary 14,398 1,822 Net income 103,950 13,152 Basic earnings per common share Before extraordinary gain Rmb US$ 3.74 0.48 Extraordinary gain Rmb US$ 0.61 0.08 After extraordinary gain Rmb US$ 4.35 0.56 Diluted earnings per common share Before extraordinary gain Rmb US$ 3.39 0.43 Extraordinary gain Rmb US$ 0.48 0.06 After extraordinary gain Rmb US$ 3.87 0.49 Weighted average number of shares outstanding - Basic 23,707,000 23,707,000 - Diluted 29,726,000 29,726,000 Appendix II QIAO XING UNIVERSAL TELEPHONE, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET AS OF JUNE 30, 2006 June 30, 2006 Rmb'000 US$'000 (Un-audited) (Un-audited) ASSETS Current assets: Cash and cash equivalents 579,528 72,493 Restricted cash 195,109 24,406 Accounts and bills receivable 891,381 111,503 Inventories 211,037 26,398 Prepayments and other current assets 641,449 80,238 Total current assets 2,518,504 315,038 Property, plant and equipment 292,372 36,573 Prepayment for purchase of property, plant and equipment 358,742 44,875 Other non-current assets 9,046 1,132 Investments at cost 7,634 955 Goodwill 72,088 9,017 Other acquired intangible assets, net 43,418 5,431 Discount on bonds 57,139 7,147 Total assets 3,358,943 420,168 LIABILITIES, MINORITY INTERESTS AND SHAREHOLDERS' EQUITY Current liabilities: Short-term borrowings 920,880 115,192 Accounts payable 212,100 26,531 Accrued liabilities 79,637 9,962 Deposits received, deferred revenues and other current liabilities 114,216 14,287 Total current liabilities 1,326,833 165,972 Shareholders' loans 7,885 986 Bonds 319,772 40,000 Total liabilities 1,654,490 206,958 Minority interests 270,001 33,774 Shareholders' equity: Common stock, par value Rmb0.008 (equivalent of US$0.001); authorized 50,000,000 shares; outstanding and fully paid - 23,651,692 as of June 30, 2006 195 24 Additional paid-in capital 907,768 113,552 Retained earnings 525,267 65,705 Cumulative translation adjustments 1,224 153 Total shareholders' equity 1,434,454 179,434 Total liabilities, minority interests and shareholders' equity 3,358,945 420,166 QIAO XING UNIVERSAL TELEPHONE, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS AND NET INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2006 2006 First half Rmb'000 US$'000 (Un-audited) (Un-audited) Net sales 1,419,316 177,541 Cost of goods sold (1,165,215) (145,756) Gross profit 254,101 31,785 Operating expenses: Selling expenses (22,438) (2,807) General and administrative expenses including stock-based compensation (91,241) (11,413) Research and development (12,754) (1,595) Amortization of acquired intangible assets (4,809) (602) Income from operations 122,859 15,368 Interest income 3,412 427 Exchange gain, net 473 59 Interest expense (23,890) (2,988) Amortization of discount on bonds (1,736) (217) Other income, net 2,865 358 Income before income tax 103,983 13,007 Provision for income tax (23,329) (2,918) Income before minority interests 80,654 10,089 Minority interests (38,800) (4,853) Net income 41,854 5,236 Earnings per common share - Basic Rmb US$ 1.89 0.24 - Diluted Rmb US$ 1.83 0.23 Weighted average number of shares outstanding - Basic 22,175,000 22,175,000 - Diluted 22,834,000 22,834,000 Forward-looking statements

    This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements present management's expectations, beliefs, plans and objectives regarding future financial performance and are subject to change. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward- looking statements. Such factors are detailed in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2005 and subsequent reports filed with the Securities and Exchange Commission.

    About Qiao Xing Universal Telephone, Inc.

    Qiao Xing Universal Telephone, Inc. is one of China's largest manufacturers and distributors of telecommunications products. The Company conducts is operations primarily through two subsidiaries: CEC Telecom Co., Ltd. ("CECT"), its primary subsidiary, and Huizhou Qiao Xing Communication Industry, Limited ("HZQXCI"). CECT sells "CECT" branded cell phones and HZQXCI sell indoor phones and "Cosun" branded mobile phones. The Company's product portfolio includes telecommunications terminals and related products, including fixed wireless phones, VoIP telephones, advanced mobile phones, PDAs and consumer electronic products. This includes a model of PDA phone that combined ultra-small design and handwriting function, the 'T868', and a model of multi-media PDA phone that enjoys 1000 hours stand by time, the 'A1000'. The Company has established relationships with leading telecom and software companies for their China strategy, including Microsoft and Palm, aiding success for its 'High End Mobile Phone Strategy'. XING has launched more than 120 models of mobile phones and has established more than 250 wholesales outlets and more than 350 after sales service centres in 31 provinces and municipalities. In indoor business area, XING currently distributes over 300 models of corded and cordless telephones and is one of China's largest distributors of indoor phones. For its indoor phone segment, the Company has built a strong distribution network comprised of more than 5,000 retail stores throughout China and has established partnerships with major retailers in Europe, North America and Latin America, including Bellsouth and Wal-mart. For more details, please visit http://www.cosun-xing.com/ .

    For more information, please contact: Rick Xiao Qiao Xing Universal Telephone, Inc. Tel: +86-752-282-0268 Email: rick@qiaoxing.com

    Qiao Xing Universal Telephone, Inc.

    CONTACT: Rick Xiao, Qiao Xing Universal Telephone, Inc.,
    +86-752-282-0268, or rick@qiaoxing.com

    Web site: http://www.cosun-xing.com/




    EDS' Eight Financial Services 2007 Trends: Resolutions for a Financially Good Year

    PLANO, Texas, Dec. 22 /PRNewswire-FirstCall/ -- EDS applies 35 years of industry expertise to help clients, including seven of the world's largest 10 banks, to grow their business securely, to reduce costs and comply with changing regulation. More than 200 financial services companies count on EDS for IT and business process services. In 2006 alone, the company's outstanding record for service excellence led EDS to renew or extend its relationship with some of its largest clients, including Bank of America, Commonwealth Bank of Australia, AEGON, Visanet and MERSCORP.

    As a financial services IT leader, EDS continually looks to anticipate its clients' future needs, and as such, predicts the following trends will affect the industry in 2007:

    1. Emerging Economies See Accelerated Growth in Mortgage Lending -- Growing economies are seeing a large segment of their population enter the labor force. With an increased demand for housing, as well as continued stability of interest rates, mortgage lending in these economies will expand at an accelerated rate. Their governments will also change their role from lender to enabler/promoter. Banks skilled at running international operations will have a strong opportunity to expand their geographic footprint. 2. Retailers at the Gates -- The number of retailers crossing over to Financial Services will grow, as they are better positioned to serve the emerging segments of the market. Their strong value proposition in terms of service and convenience, as well as their superior marketing skills, will become a differentiator in cross selling. 3. Se Habla Espanol -- The Hispanic market is the fastest-growing segment, economically speaking, in the United States. This true emerging segment will produce a net growth in the market, but strong language and cultural characteristics mandate a differentiated value proposition. There is also the potential for explosive growth in the short term if immigration issues are resolved and more workers join the formal economy. 4. True Globalization of Global Banks, but Will Life Insurers Enter the Global League? -- A need to improve their profitability will force international banks to look for ways to capture economies of scale. The diversity of products, systems and operations from acquisitions has resulted in low operating efficiencies; therefore the pressure to standardize and leverage regional and global capabilities and volumes will increase. The rationalization of solutions and infrastructure will go from being good business, to being a key to survival. Life insurers too have a remarkable opportunity to grow, as a large retirement bubble exists in virtually every developed and emerging economy. Larger European insurers have been most aggressive in establishing operations in more countries, while the larger North American insurers have been more cautious and selective in new market entry. Demographics, tax incentives, deregulation, technology, market convergence and wealth creation are combining to create the global market opportunity of a lifetime, but life insurers are currently sorting out their roles. Life insurers with ambitions to take on 'global' status will take decisive steps on reinventing their operations this year. 5. Emergence of Individual Consumer Healthcare Investment Accounts -- Beyond revolutionizing healthcare benefits, defined-contribution plans will create 50 to 100 million new individual investment accounts, creating a $1 trillion annual money flow. More than 150 major financial institutions have entered the business already, but institutions that can incorporate consumer-directed healthcare products and partner with healthcare plans that attract large groups of customers will be the ones who gain significant growth at reduced acquisition costs. 6. Security and Privacy Move From Hype to Action -- The growth of online shopping will continue to drive the increased perception of exposure, mainly among the most attractive segments of the market. The pressure to comply with Operational Risk regulations and guidelines will also continue to increase. 7. Good Looking Annuity Moves the Needle -- Leading insurers are finding that appealing annuity product features, designs and packages are increasingly moving the needle more than other performance drivers. Increasing attention will be placed on product development and the supporting systems that enable rapid product configuration and placement in the market. This trend will be made even more critical because of guaranteed income products, which require sophisticated hedging and stochastic modeling methods. More advanced packaging will emerge, because many of the "at retirement" market want an integrated solution that pulls together elements of annuities, investment, cash management, healthcare funding and more, all in one package. 8. Modernizing the Claims Process -- In recent years, property and casualty (P&C) companies have differentiated themselves with data- rich, multivariable underwriting and point of sale productivity applications that attract agencies. These efforts will continue to measurably set the larger P&C insurers apart in profit ratios, new agency signings and growth. However, they will begin to increasingly dedicate their attention and resources to the claims process, which accounts for roughly three-quarters of premiums. As one of the most complex processes in financial services, a focus on system modernization that involves straight-through processing, mobile technology for data capture and communication, along with more advanced predictive modeling and fraud detection will make the claims process more efficient.

    Some 25,000 EDS employees work on finance-related projects for about 200 customers in 30 countries for clients such as ABN Amro, Aon, Bank of Canada, Bank of Queensland, la Caixa, CIBC, Commonwealth Bank Group, KBC, Korea First Bank, Lloyds TSB, Royal Bank of Scotland, Societe Generale, Visa and Westpac.

    About EDS

    EDS is a leading global technology services company delivering business solutions to its clients. EDS founded the information technology outsourcing industry more than 40 years ago. Today, EDS delivers a broad portfolio of information technology and business process outsourcing services to clients in the manufacturing, financial services, healthcare, communications, energy, transportation, and consumer and retail industries and to governments around the world. Learn more at http://www.eds.com/ .

    CONTACT: Annabelle Baxter - EDS Media Relations 972 605 0978 annabelle.baxter@eds.com

    Electronic Data Systems Corporation

    CONTACT: Annabelle Baxter, Media Relations of Electronic Data Systems
    Corporation, +1-972-605-0978, or annabelle.baxter@eds.com

    Web site: http://www.eds.com/




    Microsoft Extends Xbox 360 Warranty to One YearShoppers can buy with added confidence this holiday season as Microsoft expands its warranty for Xbox 360 from 90 days to one year.

    REDMOND, Wash., Dec. 22 /PRNewswire-FirstCall/ -- In a move to benefit customers, Microsoft Corp. announced today that it will change the Xbox 360(TM) warranty from 90 days to one year from the date of purchase in the United States and Canada. Microsoft extended the warranty in these territories to be consistent with the standard one-year Xbox 360 warranty that is available throughout most of the world. The news is reason to celebrate this holiday season; it applies to both would-be purchasers and those who already have Xbox 360 and are still within their first year of ownership.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO )

    Effective today, the one-year warranty is now the standard for the Xbox 360 console. Customers who experience hardware issues with their Xbox 360 within one year of purchase can have their consoles repaired at no cost. Moreover, the new warranty policy is retroactive, so consumers who may have already paid for an out-of-warranty Xbox 360 repair within one year of purchase will be eligible for reimbursement of their console repair charges.

    "Customer satisfaction is a central focus and priority for the Xbox 360 system," said Jeff Bell, corporate vice president of Global Marketing for the Interactive Entertainment Business at Microsoft. "In addition to jaw-dropping features such as high-definition graphics, an amazing catalog of over 160 games, and social online and entertainment experiences on Xbox Live(R), the Xbox 360 system now offers this extended warranty upgrade. It is truly the industry's most compelling home entertainment offering."

    Customers who have already paid out-of-warranty repair charges within their first year of ownership can expect reimbursement checks for the amount of their console repair in approximately 10 weeks. Reimbursements will be automatically distributed, so customers need not contact Microsoft. Customers who have questions regarding this policy change or experience any hardware issues should visit http://www.xbox.com/en-US/support/contact where they can check their warranty status, find troubleshooting information for common issues and find Xbox support contact information.

    About Xbox 360

    Xbox 360 is the most powerful video game and entertainment system, delivering the best games, the next generation of the premier Xbox Live online gaming network and unique digital entertainment experiences that revolve around gamers. Xbox 360 is expected to have a catalog of 160 high-definition games by the end of 2006 and to be available in nearly 40 countries by the end of 2007. More information can be found online at http://www.xbox.com/xbox360 .

    About Microsoft

    Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

    NOTE: Microsoft, Xbox 360, Xbox Live and Xbox are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.

    The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

    Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO
    AP Archive: http://photoarchive.ap.org/
    PRN Photo Desk photodesk@prnewswire.com Microsoft Corp.

    CONTACT: Evan Parker of Edelman, +1-323-202-1052, or
    evan.parker@edelman.com, for Microsoft; or Molly O'Donnell of Microsoft,
    +1-425-706-0292, or mollyo@microsoft.com

    Web site: http://www.microsoft.com/




    Ness Technologies Wins Multi-Million Dollar Contract With Quintiles Transnational Corp.

    HACKENSACK, New Jersey, December 22 /PRNewswire-FirstCall/ -- Ness Technologies , a global provider of IT services and solutions, today announced that it has been awarded a multi-million dollar contract by Quintiles Transnational Corp., a leading provider of pharmaceutical and biotech services from early development through late phase clinical trials and commercialization. Under the terms of the three-year contract (with optional six year extension), Ness Technologies will establish an Extended Development Center (EDC) at Ness Technologies' facility in Bangalore, India.

    The new center, called Quintiles Extended Development and Testing Center, complements Quintiles existing IT resources. The center will provide Quintiles with additional application development, testing and maintenance services in the clinical, laboratory and product commercialization domains. It will help Quintiles accelerate time to market for technology and data integration solutions which are used in support of operations with their extensive global customer base.

    "Quintiles' people and solutions are the gold standard of the pharmaceutical services industry," said Richard Thomas, Chief Technology Officer, Quintiles Transnational Corp. "Ness, through their expertise and specialist knowledge in building and operating systems development labs, has established a similar reputation in the IT services industry. Through this partnership, Ness will provide us with significant additional IT capacity and expertise, which in turn will help us accelerate delivery of innovative solutions and services that will directly benefit our customers."

    "The new contract with Quintiles reflects our process expertise and technology competency along with strength in the pharmaceutical and life sciences practices," said Shashank Samant, President of Ness Managed Strategic Services (Ness MSS). "We are very pleased that Quintiles selected our proven Managed Labs model as a foundation for their extended development center and we are committed to providing Quintiles with the highest quality services."

    Ness Technologies provides outsourcing services from its development centers in India - Bangalore, Mumbai and Hyderabad - and from its centers in Israel, Eastern Europe and Asia-Pacific. Ness offers end-to-end business solutions designed to help clients improve their competitiveness and effectiveness, encompassing all technologies and IT services related to that process. Ness' development centers house extended R&D labs for 30 independent software vendors (ISVs), as well as extended IT centers for applications development, maintenance and support for Information Technology and Information Systems organizations.

    Ness Technologies has been named to Global Outsourcing 100, the International Association of Outsourcing Professionals' (IAOP) list of the world's top outsourcing service providers. Ness has been selected in the Leaders Category of the list, excelling in customer satisfaction and depth of competence. In addition, Ness Technologies has been ranked as one of the top 10 specialty application development leaders on Global Services 100, Global Services' list of the world's most innovative providers of business and technology services. The Company has also been ranked by Brown-Wilson Group as one of the top 50 best managed global outsourcing vendors.

    About Quintiles

    Quintiles Transnational Corp. is powering the next generation of healthcare by providing a broad range of professional services in drug development, information, financial partnering and commercialization for the pharmaceutical and biotechnology industries. With 16,000 employees and offices in more than 50 countries, it is focused on providing customer-centric solutions that are the gold standard of the industry. For more information, please visit the company's Web site at http://www.quintiles.com/.

    About Ness Technologies

    Ness Technologies is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Ness specializes in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training. With 7,300 employees, Ness maintains operations in 16 countries, and partners with over 100 software and hardware vendors worldwide. For more information about Ness Technologies, visit http://www.ness.com/.

    Forward Looking Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects," "may," "anticipates," "plans," "intends," "assumes," "will" or similar expressions. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Ness' actual results could differ materially from those anticipated in these forward looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in Ness' Annual Report of Form 10-K filed with the Securities and Exchange Commission on March 15, 2006.

    Media contact: David Kanaan USA: 1-888-244-4919 Intl: +972-3-540-8188 Email: media.int@ness.com Investor contact: Drew Wright USA:+1-888-267-8160 Email: investor@ness.com

    Ness Technologies Inc

    CONTACT: Media contact: David Kanaan, USA: 1-888-244-4919, Intl:
    +972-3-540-8188, Email: media.int@ness.com. Investor contact: Drew Wright,
    USA:+1-888-267-8160, Email: investor@ness.com




    AsiaInfo to Announce Fourth Quarter And 2006 Year-End Results on January 24, 2007

    BEIJING and SANTA CLARA, Calif., Dec. 22 /Xinhua-PRNewswire-FirstCall/ -- AsiaInfo Holdings, Inc. , a leading provider of telecom software solutions and IT security products and services in China, announced today that it will report its fourth quarter and 2006 year-end financial results on Wednesday, January 24, 2007.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20040312/CNF002LOGO )

    The earnings announcement conference call will take place at 4:00pm Pacific Time/ 7:00pm Eastern Time (Beijing/Hong Kong Time: January 25, 2007 at 8:00am). The management team will be on the call to discuss results and highlights of the quarter, and answer questions. The dial-in number for U.S. callers is +1-866-549-1292, and +852-3005-2050 for Hong Kong and international callers. The passcode for the call is 620250. To participate on the call, please R.S.V.P to Eileen Chu by email at ir@asiainfo.com or by phone at +86-10-8216-6017.

    A replay will be available from 7:00pm Pacific Time on January 24, 2007 until 7:00pm Pacific Time on February 3, 2007 by dialing +1-866-753-0743 for U.S. callers, or +852-3005-2020 for Hong Kong and international callers. The passcode for the replay is 130358.

    Additionally, a live and archived web cast of this call will be available on the Investor Relations section of the AsiaInfo web site at http://www.asiainfo.com/ .

    About AsiaInfo Holdings, Inc.

    AsiaInfo Holdings, Inc. is a leading provider of high- quality telecom software solutions and security products and services to some of China's largest enterprises as well as many small and medium sized companies in China. An established leader in the Chinese telecommunications industry, AsiaInfo became a prominent supplier of security products and services in China with the acquisition of Lenovo's non-telecom related IT services business in 2004.

    Organized as a Delaware corporation, AsiaInfo began operations in the United States in 1993. The Company moved major operations to China in 1995 and played a significant role in the construction of the national backbones and provincial access networks for all of China's major national telecom carriers, including China Telecom, China Mobile, China Unicom and China Netcom. Since 1998, AsiaInfo has continued diversifying its product offerings and is now a major provider of telecom software solutions in China.

    For more information about AsiaInfo, please visit http://www.asiainfo.com/ .

    The information contained in this document is as of December 22, 2006. AsiaInfo assumes no obligation to update any forward-looking statements contained in this document as a result of new information or future events or developments.

    This document contains forward-looking information about AsiaInfo's operating results and business prospects that involve substantial risks and uncertainties. You can identify these statements by the fact that they use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause actual results to differ materially are the following: government telecommunications infrastructure and budgetary policy in China; our ability to maintain our concentrated customer base; the long and variable cycles for our products and services that can cause our revenues and operating results to vary significantly from period to period; our ability to meet our working capital requirements; our ability to retain our executive officers; our ability to attract and retain skilled personnel; potential liabilities we are exposed to because we extend warranties to our customers; risks associated with cost overruns and delays; our ability to develop or acquire new products or enhancements to our software products that are marketable on a timely and cost-effective basis; our ability to adequately protect our proprietary rights; the competitive nature of the markets we operate in; political and economic policies of the Chinese government. A further list and description of these risks, uncertainties, and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2004, and in our periodic reports on Forms 10-Q and 8-K (if any) filed with the United States Securities and Exchange Commission and available at http://www.sec.gov/ .

    For more information, please contact: Eileen Chu (Investors) AsiaInfo Technologies (China), Inc. Tel: +86-10-8216-6017 Email: ir@asiainfo.com Rory Macpherson (Media) Ogilvy Public Relations Worldwide Tel: +86-10-8520-6553 Email: rory.macpherson@ogilvy.com

    Photo: NewsCom:
    http://www.newscom.com/cgi-bin/prnh/20040312/CNF002LOGO
    AP Archive: http://photoarchive.ap.org/
    PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840 AsiaInfo Holdings, Inc.

    Contact: Investors -- Eileen Chu of AsiaInfo, +86-10-8216-6017, or
    ir@asiainfo.com; Media -- Rory Macpherson of Ogilvy Public Relations,
    +86-10-8520-6553, or rory.macpherson@ogilvy.com, for ASIA




    Bally Technologies Announces Business UpdateCompany Files Form 10-Q for First Two Quarters of Fiscal Year 2006

    LAS VEGAS, Dec. 22 /PRNewswire-FirstCall/ -- Bally Technologies, Inc. announced today the following business update.

    BUSINESS UPDATE - FISCAL 2007: * Sales of approximately 9,000 gaming devices (excluding OEM sales) for the first half of fiscal 2007 compared to 6,500 in the first half of fiscal 2006, at higher average selling prices compared to the prior year. Gross margins are also expected to improve in 2007 compared to fiscal 2006. * A record number of gaming device purchase commitments from this year's G2E trade show in November, 2006. * 1,200 units currently installed on a participation basis at the Yonkers Raceway in New York and expectation of another 1,600 units to be operational by February, 2007 when expansion construction is expected to be completed. * Increase in the current installed base of the Hot Shot Progressive game to 1,400 participation units. The Company also plans to introduce three new participation products by the fourth quarter of fiscal 2007. * Growth in the Systems business as a result of a number of new contracts and go-lives which are expected to drive revenue to more than $65 million in the first half of fiscal 2007 compared to $46 million in the first half of fiscal 2006. Gross margins on Systems revenue in the first half of fiscal 2007 are expected to be lower than the first half of fiscal 2006 due to the mix of hardware and software sales. * Interest expense for the first half of fiscal 2007 is expected to be approximately $17.5 million, reflecting higher market interest rates and fees on our bank facilities. * The increase in costs associated with impact of the reduction in the depreciable lives of certain leased products in fiscal 2006 (see additional detailed discussion below) will decrease significantly in the second quarter of fiscal 2007 and is not anticipated to have an impact on future financial results.

    "I am pleased with the customer response at the recent G2E trade show in Las Vegas and the continued progress we are making on our strategic and profitability plans," said Richard Haddrill, Chief Executive Officer. "In the first half of our fiscal 2007, we are beginning to see the benefits of our efforts."

    FINANCIAL FILINGS AND RESULTS - FISCAL 2006: Six Months Ended December 31, 2005

    The Company announced today the filing of its Form 10-Qs for the quarters ended September 30 and December 31, 2005. Information in the Form 10-Qs filed today by the Company contain prior year comparison results which reflect the restated results for fiscal 2005.

    The Company expects to file its Form 10-Q for the quarter ended March 31, 2006 and its Form 10-K for the fiscal year ended June 30, 2006 before March 15, 2007. While the Company believes it can achieve this filing schedule, there can be no assurance that the schedule will be met. As previously disclosed, the Company has not filed its Form 10-Q for the quarter ended September 30, 2006 and the Company anticipates the filing of its Form 10-Q for the quarter ending December 31, 2006 will also be delayed.

    Robert C. Caller, Chief Financial Officer, stated, "We are pleased to have completed these quarterly reports and continue to work diligently on the remaining filings for fiscal 2006 and for the first quarter of fiscal 2007. I am also pleased that we continued our product retooling during the six months ended December 31, 2005 without a material negative impact to our working capital."

    Highlights of the Six Months Ended December 31, 2005 include: * The Company was undergoing a major product retooling during the first half of fiscal 2006 and recorded a loss of $0.33 per share. The loss includes $0.07 per share related to stock compensation expense and $0.22 per share of expenses related to inventory obsolescence, increased depreciation on participation games as a result of shortening the estimated useful lives of those assets, accrual for the probable settlement of class action litigation and higher than normal expenses related to accounting and legal matters. * Total revenues for the second quarter of fiscal 2006 increased to $128.4 million compared to total revenues of $106.4 million for the first quarter of fiscal 2006 and $124.5 million for the second quarter of fiscal 2005. * The average selling price of gaming devices in the first half of fiscal 2006 increased to approximately $10,800 per unit compared to approximately $10,400 per unit in the first half of fiscal 2005 reflecting a shift in the mix of our gaming devices to our new Alpha based products. Total gaming devices sold in the first half of fiscal 2006, excluding OEM units, totaled 6,463 units. * Selling, general and administrative costs increased $4.4 million in the first half of fiscal 2006 compared to the first half of fiscal 2005 reflecting the impact of increased legal and accounting costs related to the restatement of financial information and other matters. * Interest expense increased $5.4 million in the first half of fiscal 2006 compared to the first half of fiscal 2005 due to higher interest rates and fees associated with the Company's bank facility. * As previously disclosed, the reduction in the depreciable lives of certain of the Company's leased gaming equipment negatively impacted financial results for its Gaming Operations business beginning in the second quarter of fiscal 2006. Gross margin for Gaming Operations of 39 percent in the second quarter of fiscal 2006 includes $5.8 million of depreciation related to this change. This change has also negatively impacted the gross margin for Gaming Operations in the third and fourth quarters of fiscal 2006. * Gross margin for the Systems business in the first half of fiscal 2006 was 82 percent compared to 79 percent for the first half of fiscal 2005, reflecting a higher mix of software versus hardware sales. * Cash and cash equivalents were $24.6 million at December 31, 2005, a decrease from a balance of $33.2 million at June 30, 2005. Working capital and debt levels remained relatively unchanged despite the Company's retooling efforts. Accounts and notes receivable increased $24.1 million and deferred revenue increased $26.4 million from June 30, 2005 to December 31, 2005.

    The Company anticipates reporting a net loss per diluted share of between $0.66 and $0.76 for the year ended June 30, 2006. This estimated net loss includes stock compensation expense of approximately $0.16 per share and also includes charges of approximately $0.52 per share related to inventory obsolescence, increased depreciation on participation games as a result of shortening the estimated useful lives of those assets, accrual for the probable settlement of class action litigation, write offs of certain other assets, and higher than normal expenses related to accounting and legal matters. It also includes an impairment charge on certain of the Company's intangible assets of approximately $0.11 per share. In addition, as previously reported, the Company experienced lower gross margins on newer gaming products in fiscal year 2006 as a result of introductory pricing and high initial production costs.

    Bank Covenants

    As of December 31, 2005 and September 30, 2005, the Company was in compliance with its financial covenants consisting of a leverage ratio, a fixed charges coverage ratio and a minimum of Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") (as EBITDA is defined in the Loan Agreement).

    As previously disclosed, the Company amended its bank facility to extend the due date for the delivery of the Company's Form 10-Q for the quarter ended March 31, 2006 and its Form 10-K for the fiscal year ended June 30, 2006 to March 15, 2007.

    Summary of Results for First and Second Quarters of Fiscal 2006 Three Months Ended Three Months Ended Six Months Ended September 30 December 31 December 31 2005 2004 2005 2004 2005 2004 (in millions, except per share amounts) Revenue $106.4 $119.6 $128.4 $124.5 $234.8 $244.1 Operating loss (4.8) (1.2) (6.5) (2.4) (11.3) (3.6) Loss from continuing operations (8.5) (7.3) (8.9) (3.4) (17.3) (6.3) Loss per share $(0.16) $(0.14) $(0.17) $(0.07) $(0.33) $(0.21) Supplemental Business Unit Detail The following chart summarizes the financial information for the Bally Gaming and Systems business unit, as restated as applicable (dollars in millions): Three Months Ended Three Months Ended Six Months Ended September 30 December 31 December 31 2005 2004 2005 2004 2005 2004 Revenues: Game sales $37.3 $50.5 $54.1 $55.8 $91.4 $106.3 System sales 20.6 23.3 25.0 25.5 45.6 48.8 Gaming operations 36.9 33.0 34.9 30.4 71.8 63.4 94.8 106.8 114.0 111.7 208.8 218.5 Casino operations 11.6 12.8 14.4 12.8 26.0 25.6 Total $106.4 $119.6 $128.4 $124.5 $234.8 $244.1 Summary operating statistics: Gross Margin % Games 25% 31% 29% 15% 27% 23% Systems 86% 81% 78% 77% 82% 79% Gaming operations 51% 54% 39% 57% 45% 55% Casino operations 63% 63% 66% 64% 65% 63% New gaming devices sold 2,800 4,057 3,663 2,677 6,463 6,734 OEM units sold 21 250 305 2,657 326 2,907 New unit ASP (excluding OEM) $10,647 $10,513 $10,921 $10,290 $10,802 $10,425 GMU installed base 278,000 281,000 266,000 280,000 Casino management systems base 535 502 532 220

    With a history dating back to 1932, Las Vegas-based Bally Technologies designs, manufactures, operates and distributes advanced gaming devices, systems and technology solutions worldwide. Bally's product line includes reel-spinning slot machines, video slots, wide-area progressives and Class II, lottery and central determination games and platforms. As the world's No. 1 gaming systems company, Bally also offers an array of casino management, slot accounting, bonusing, cashless and table management solutions. The Company also owns and operates Rainbow Casino in Vicksburg, Miss. Additional information on the Company can be found at http://www.ballytech.com/.

    FORWARD LOOKING STATEMENTS

    This news release may contain "forward-looking" statements within the meaning of the Securities Act of 1933, as amended, and is subject to the safe harbor created thereby. Such information involves important risks and uncertainties that could significantly affect the results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements. Future operating results may be adversely affected as a result of a number of risks that are detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update the information in this press release and represents that the information is only valid as of today's date.

    Investor Contact: Media Contact: Mark Lipparelli Marcus Prater (702) 584-7600 (702) 584-7828 mlipparelli@ballytech.com mprater@ballytech.com

    Bally Technologies, Inc.

    CONTACT: Investors, Mark Lipparelli, +1-702-584-7600,
    mlipparelli@ballytech.com, or Media, Marcus Prater, +1-702-584-7828,
    mprater@ballytech.com, both of Bally Technologies, Inc.

    Web site: http://www.ballytech.com/




    AsiaInfo Enhances Beijing Mobile's Business Intelligence System

    BEIJING and SANTA CLARA, Calif., Dec. 22 /Xinhua-PRNewswire-FirstCall/ -- AsiaInfo Holdings, Inc. , a leading provider of telecom software solutions and IT security products and services, today announced that it has signed a contract to develop Phase III of Beijing Mobile's Business Intelligence (BI) system. The Phase III BI project will enhance Beijing Mobile's competitive capabilities by improving data quality, broadening subject domain applications to enable Beijing Mobile to offer more personalized services.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20040312/CNF002LOGO )

    ''AsiaInfo's leading business intelligence systems help telecom operators analyze their user data and develop services tailored to customer needs,'' said Steve Zhang, President and Chief Executive Officer of AsiaInfo. ''We have been investing in business intelligence R&D for several years now and our BI systems and service guarantees are world class. Currently our BI systems support more than 150 million users and over 15 terabytes of data.''

    Mr. Zhang also noted that AsiaInfo's BI system has been successfully deployed for 13 of China Mobile's provincial subsidiaries.

    As a leading telecom operator in China, Beijing Mobile's business and user volume has increased significantly in recent years and the operator is expected to reach 14 million users by the end of 2007. A sophisticated BI system that provides in depth analysis of market and user data is integral to servicing such a large user base. Prior to this agreement, AsiaInfo successfully constructed Phase I and II of Beijing Mobile's BI system establishing a unified data platform and nine major analytical functions.

    About AsiaInfo Holdings, Inc.

    AsiaInfo Holdings, Inc. is a leading provider of high- quality telecom software solutions and security products and services to some of China's largest enterprises as well as many small and medium sized companies in China. An established leader in the Chinese telecommunications industry, AsiaInfo became a prominent supplier of security products and services in China with the acquisition of Lenovo's non-telecom related IT services business in 2004.

    Organized as a Delaware corporation, AsiaInfo began operations in the United States in 1993. The Company moved major operations to China in 1995 and played a significant role in the construction of the national backbones and provincial access networks for all of China's major national telecom carriers, including China Telecom, China Mobile, China Unicom and China Netcom. Since 1998, AsiaInfo has continued diversifying its product offerings and is now a major provider of telecom software solutions in China.

    For more information about AsiaInfo, please visit http://www.asiainfo.com/ .

    The information contained in this document is as of December 22, 2006. AsiaInfo assumes no obligation to update any forward-looking statements contained in this document as a result of new information or future events or developments.

    This document contains forward-looking information about AsiaInfo's operating results and business prospects that involve substantial risks and uncertainties. You can identify these statements by the fact that they use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause actual results to differ materially are the following: government telecommunications infrastructure and budgetary policy in China; our ability to maintain our concentrated customer base; the long and variable cycles for our products and services that can cause our revenues and operating results to vary significantly from period to period; our ability to meet our working capital requirements; our ability to retain our executive officers; our ability to attract and retain skilled personnel; potential liabilities we are exposed to because we extend warranties to our customers; risks associated with cost overruns and delays; our ability to develop or acquire new products or enhancements to our software products that are marketable on a timely and cost-effective basis; our ability to adequately protect our proprietary rights; the competitive nature of the markets we operate in; political and economic policies of the Chinese government. A further list and description of these risks, uncertainties, and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2005, and in our periodic reports on Forms 10-Q and 8-K (if any) filed with the United States Securities and Exchange Commission and available at http://www.sec.gov/ .

    For more information, please contact: For Investors: Eileen Chu AsiaInfo Technologies (China), Inc. Tel: +86-10-8216-6017 Email: ir@asiainfo.com For Media: Rory Macpherson Ogilvy Public Relations Worldwide Tel: +86-10-8520-6553 Email: rory.macpherson@ogilvy.com

    Photo: NewsCom:
    http://www.newscom.com/cgi-bin/prnh/20040312/CNF002LOGO
    AP Archive: http://photoarchive.ap.org/
    PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840 AsiaInfo Holdings, Inc.

    CONTACT: For Investors - Eileen Chu of AsiaInfo Technologies (China),
    Inc., +86-10-8216-6017, or ir@asiainfo.com; For Media - Rory Macpherson of
    Ogilvy Public Relations Worldwide, +86-10-8520-6553, or
    rory.macpherson@ogilvy.com, for ASIA




    XRT : signature d'un accord de cession des activites liées aux progiciels TWS et Globe$

    PARIS, LA DEFENSE, December 22 /PRNewswire/ -- XRT a signé un accord visant à transférer les activités liées aux progiciels TWS et Globe$ au groupe américain Sungard. Ce transfert prendra la forme d'une cession des filiales belge, allemande et américaine de XRT à Sungard et de la reprise par XRT des activités UNIVERSE déployées dans ces pays. Le chiffre d'affaires cédé se monte à 10.5 MEUR au 31/12/2005, et 5 MEUR au 30/06/06. Le résultat d'exploitation ne peut pas être connu dans la mesure où l'opération comprend la cession partielle des actifs Universe préalable à la vente.

    XRT se recentre ainsi sur le métier du << cash management >>. De leur côté, les clients des offres TWS et Globe$ sont assurés de trouver des réponses à leurs éventuels souhaits d'évolution, après l'arrêt du développement de XRT Enterprise.

    Le prix de cession se situera entre 10MEUR et 11MEUR. La cession aura un impact de l'ordre de 8MEUR sur la trésorerie du groupe.

    La cession, notamment soumise à l'accord de l'office du Cartel allemand, devrait intervenir avant le 28 février 2007.

    Un communiqué complémentaire sera diffusé à la levée des conditions suspensives précisant l'impact sur le résultat d'exploitation, les actifs et passifs du Groupe qui seront déterminés à l'arrêté des comptes 2006.

    A propos de XRT : Compartiment C d'Eurolist Paris, ISIN : FR0000054587

    Fort de 20 années d'expertise, XRT crée des solutions novatrices de gestion de trésorerie étendue, utilisées par plus de 7 000 entreprises, dans 55 pays.

    Les solutions XRT adressent l'ensemble de la chaîne de valeur financière : flux de Trésorerie, Liquidité, Risque, Recouvrement, Paiement et Communication Bancaire, valorisant ainsi la gestion du besoin en fonds de roulement.

    En 2005, XRT a généré un chiffre d'affaires de 43,7 millions d'euros, avec un effectif de 400 employés. XRT a été élu par le magazine "Global Finance Magazine" comme éditeur du "Meilleur Logiciel de Gestion de Trésorerie en 2005 et 2006".

    Pour plus d'informations : http://www.xrt.com Contacts Direction Financière Tel : +33(0)1-46-92-60-34 Fax : +33(0)1-46-92-60-60 e-mail : investors@xrt.com Relations Presse - Les Lutins d'la Com Véronique PIGOT Tel : +33(0)1-46-49-18-20 e-mail : veroniquep@leslutins.fr

    Xrt-Cerg

    Contacts, Direction Financière, Tel : +33(0)1-46-92-60-34, Fax : +33(0)1-46-92-60-60, e-mail : investors@xrt.com; Relations Presse - Les Lutins d'la Com, Véronique PIGO, Tel : +33(0)1-46-49-18-20, e-mail : veroniquep@leslutins.fr




    Insure.com, Inc. Announces Trading Symbol Change to NSUR Effective January 8, 2007

    DARIEN, Ill., Dec. 22 /PRNewswire-FirstCall/ -- Insure.com, Inc. today announced that it will change its Nasdaq Capital Market trading symbol to NSUR effective Monday, January 8, 2007, at the opening of the market.

    "Insure.com is experiencing improved financial momentum in both its life insurance commission and click revenue segments," said Robert Bland, chairman and CEO. "The new NSUR trading symbol is designed to help to bring a single identity to our new corporate name and our national advertising efforts. We are very excited about the emerging online insurance sector and about entering 2007 in particular."

    About Insure.com

    Originally founded in 1984 as Quotesmith Corporation, Insure.com owns and operates a comprehensive consumer information service and companion insurance brokerage service that caters to the needs of self-directed insurance shoppers. Visitors to the Company's flagship Web site, http://www.insure.com/ , are able to obtain free, instant quotes from leading insurers and have the freedom to buy online or by phone from any company shown. Insure.com also plays home to over 2,000 originally authored articles on various insurance topics and also provides free insurance decision-making tools that are not available from any other single source. Insure.com generates revenues from receipt of industry-standard commissions, including back-end bonus commissions and volume-based contingent bonus commissions that are paid by participating insurance companies. We also generate click revenues from the sale of Web site traffic to various third parties.

    Insure.com, Inc.

    CONTACT: Phillip A. Perillo, Chief Financial Officer of Insure.com,
    Inc., +1-630-515-0170, ext. 200, phil@insure.com

    Web site: http://www.insure.com/




    S1 Corporation Announces Final Results of Tender Offer

    ATLANTA, Dec. 21 /PRNewswire-FirstCall/ -- S1 Corporation today announced the final results of its modified "Dutch Auction" tender offer, which expired at 12:00 midnight, Eastern Time, on Thursday, December 14, 2006.

    S1 has accepted for purchase 10,476,190 shares of its common stock at a price per share of $5.25, including all "odd lots" properly tendered and not withdrawn. These shares represent approximately 14.7% of S1's currently outstanding shares. S1 has been informed by American Stock Transfer and Trust Company, the depositary for the tender offer, that the final proration factor for the tender offer was 74.7243%.

    Based on the final count by the depositary (and excluding any conditional tenders that were not accepted due to the specified condition not being satisfied), 14,017,526 shares of common stock were validly tendered and not withdrawn at prices at or below the $5.25 per share purchase price.

    The depositary will promptly issue payment for the shares accepted in the tender offer. Any shares properly tendered and not withdrawn, but not purchased due to proration or conditional tenders, will be returned promptly to stockholders by the depositary.

    Following completion of the tender offer, S1 will have approximately 60,643,540 shares of common stock outstanding.

    SunTrust Robinson Humphrey served as dealer manager for the tender offer. Morrow & Co., Inc. served as the information agent and American Stock Transfer and Trust Company served as the depositary. Stockholders and investors who have questions or need information about the tender offer may call Morrow & Co. toll-free at (800) 607-0088.

    About S1 Corporation

    S1 Corporation delivers customer interaction software for financial and payment services and offers unique solution sets for financial institutions, retailers, and processors. S1 employs 1,500 people in operations throughout North America, Europe and Middle East, Africa, and Asia-Pacific regions. Worldwide, more than 3,000 customers use S1 software solutions, which are comprised of applications that address virtually every market segment and delivery channel. S1 partners with best-in-class organizations to provide flexible and extensible software solutions for its customers. Additional information about S1 is available at http://www.s1.com/.

    S1 Corporation

    CONTACT: Morrow & Co., 1-800-607-0088

    Web site: http://www.s1.com/




    QUALCOMM Updates Financial Guidance for the First Fiscal Quarter of 2007

    SAN DIEGO, Dec. 21 /PRNewswire-FirstCall/ -- QUALCOMM Incorporated today updated its financial guidance for the first fiscal quarter ending December 31, 2006.

    The following statements are forward looking and actual results may differ materially. Please see "Note Regarding Forward-Looking Statements" at the end of this news release for a description of certain risk factors and QUALCOMM's annual and quarterly reports on file with the Securities and Exchange Commission (SEC) for a more complete description of risks.

    Pro Forma Defined

    Pro forma results and guidance exclude the QUALCOMM Strategic Initiatives (QSI) segment, estimated share-based compensation, certain tax adjustments related to prior years and acquired in-process research and development (R&D) expense.

    First Fiscal Quarter Business Outlook

    Based on the current business outlook, we now anticipate first fiscal quarter QUALCOMM pro forma revenues to be at the high end of our prior guidance of approximately $1.98 to $2.08 billion. This estimate is based on the shipment of approximately 58 to 59 million Mobile Station Modem(TM) (MSM(TM)) chips during the quarter as compared to our prior estimate of 55 to 58 million. We shipped approximately 47 million MSM chips in the year ago quarter.

    We are deferring current period revenue for which we have not received payment associated with Pantech Group of South Korea due to its debt restructuring consideration. Additionally, our legal expenses in the quarter have increased above our prior expectations as we continue to vigorously defend the legal attacks on our business model. As a result, we now anticipate first fiscal quarter QUALCOMM pro forma diluted earnings per share to be approximately $0.41 to $0.42, compared to $0.39 in the year ago quarter. We previously anticipated first fiscal quarter QUALCOMM pro forma diluted earnings per share of approximately $0.42 to $0.44.

    The majority of our licensees have reported royalties in our first fiscal quarter for products shipped in the September quarter. Based on these reports and an estimate of licensees yet to report, we anticipate September quarter shipments of approximately 75 to 76 million CDMA units (CDMA2000(R) and WCDMA) at an average selling price of approximately $210 compared to our prior estimate of approximately 74 to 76 million units at an average selling price of approximately $209. Approximately 52 million CDMA units were shipped in the year ago quarter.

    "Our updated guidance reflects stronger than expected new orders for our 1xEV-DO chipsets," said Dr. Paul E. Jacobs, chief executive officer of QUALCOMM. "The CDMA market, CDMA2000 and WCDMA, continues to grow at a rapid pace as evidenced by the strong handset shipments reported by our licensees. Operators are taking advantage of the high-speed data capability enabled by their CDMA-based networks to introduce new and innovative applications and services that leverage that capability."

    The following table summarizes total QUALCOMM (GAAP) and QUALCOMM pro forma guidance for the first fiscal quarter of 2007 based on the current business outlook. The pro forma business outlook provided below is presented consistent with the presentation of pro forma results elsewhere herein.

    Due to their nature, certain income and expense items such as realized investment gains or losses in QSI, gains and losses on certain derivative instruments or asset impairments, cannot be accurately forecast. Accordingly, the Company excludes forecasts of such items from its business outlook, and actual results may vary materially from the business outlook if the Company incurs any such income or expense items. Estimated share-based compensation in future periods may vary materially from the business outlook as the methodology used to calculate this estimate is dependent on a variety of assumptions which are subject to market fluctuations and other factors.

    The following estimates are approximations and are based on the current business outlook:

    Business Outlook Summary FIRST FISCAL QUARTER Prior Guidance Current Guidance Q1'06 Q1'07 Q1'07 Results Estimates Estimates QUALCOMM Pro Forma Revenues $1.74B $1.98B - $2.08B High end of prior revenue guidance Year-over-year change increase 14% - 19% Diluted earnings per share (EPS) $0.39 $0.42 - $0.44 $0.41 - $0.42 Year-over-year change increase 8% - 13% increase 5% - 8% Total QUALCOMM (GAAP) Revenues $1.74B $1.98B - $2.08B High end of prior revenue guidance Year-over-year change increase 14% - 19% Diluted earnings per share (EPS) $0.36 $0.35 - $0.37 $0.35 - $0.36 Year-over-year change decrease 3% - increase 3% decrease 3% - even Diluted EPS attributable to QSI ($0.01) ($0.02) ($0.01) Diluted EPS attributable to estimated share-based compensation ($0.05) ($0.05) ($0.05) EPS attributable to tax items related to prior years $0.03 n/a n/a Metrics MSM Shipments approx. 47M approx. 55M - 58M approx. 58M - 59M CDMA/WCDMA handset units shipped approx. 52M* approx. 74M - 76M* approx. 75M - 76M* CDMA/WCDMA handset unit wholesale average selling price approx. $215* approx. $209* approx. $210* * Based on shipments in Sept. quarter, reported in Dec. quarter

    QUALCOMM Incorporated (http://www.qualcomm.com/) is a leader in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies. Headquartered in San Diego, Calif., QUALCOMM is included in the S&P 500 Index and is a 2006 FORTUNE 500(R) company traded on The Nasdaq Stock Market(R) under the ticker symbol QCOM.

    Note Regarding Use of Non-GAAP Financial Measures

    The Company presents pro forma financial information that is used by management (i) to evaluate, assess and benchmark the Company's operating results on a consistent and comparable basis, (ii) to measure the performance and efficiency of the Company's ongoing core operating businesses, including the QUALCOMM CDMA Technologies, QUALCOMM Technology Licensing and QUALCOMM Wireless & Internet segments, and (iii) to compare the performance and efficiency of these segments against each other and against competitors outside the Company. Pro forma measurements of the following financial data are used by the Company's management: revenues, R&D expenses, SG&A expenses, total operating expenses, operating income, net investment income, income before income taxes, effective tax rate, net income, diluted earnings per share, operating cash flow and free cash flow.

    Pro forma information used by management excludes the QUALCOMM Strategic Initiatives (QSI) segment, estimated share-based compensation, certain tax adjustments related to prior years and acquired in-process R&D expense. The QSI segment is excluded because the Company expects to exit its strategic investments at various times and the effects of fluctuations in the value of such investments are viewed by management as unrelated to the Company's operational performance. Estimated share-based compensation is excluded because management views the valuation of options and other share-based compensation as theoretical and unrelated to the Company's operational performance as it is affected by factors that are subject to change on each grant date including the Company's stock price, stock market volatility, expected option life, risk-free interest rates and expected dividend payouts in future years. Moreover, it is not an expense that requires or will require cash payment by the Company. Certain tax adjustments related to prior years are excluded in order to provide a clearer understanding of the Company's ongoing tax rate and after tax earnings. Acquired in-process R&D expense in fiscal 2006 is excluded because such expense is incurred infrequently and is viewed by management as unrelated to the operating activities of the Company's ongoing core businesses.

    Management is able to assess what it believes is a more meaningful and comparable set of financial performance measures for the Company and its business segments by eliminating the episodic impact of strategic investments in QSI and items such as acquired in-process R&D, as well as the inherent, non-operational volatility of share-based compensation. As a result, management compensation decisions and the review of executive compensation by the Compensation Committee of the Board of Directors focus primarily on pro forma financial measures applicable to the Company and its business segments.

    The non-GAAP pro forma financial information presented herein should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. In addition, pro forma is not a term defined by GAAP, and, as a result, the Company's measure of pro forma results might be different than similarly titled measures used by other companies. Reconciliations between total QUALCOMM (GAAP) results and guidance and QUALCOMM pro forma results and guidance are presented herein.

    Note Regarding Forward-Looking Statements

    In addition to the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties. Actual results may differ substantially from those referred to herein due to a number of factors, including but not limited to risks associated with: the rate of development, deployment and commercial acceptance of CDMA-based networks and CDMA-based technology, including CDMA2000 1X, 1xEV- DO, WCDMA and HSDPA both domestically and internationally; our dependence on major customers and licensees; fluctuations in the demand for CDMA-based products, services or applications; foreign currency fluctuations; strategic loans, investments and transactions the Company has or may pursue; our dependence on third party manufacturers and suppliers; our ability to maintain and improve operational efficiencies and profitability; developments in current and future litigation; the development, deployment and commercial acceptance of the MediaFLO(TM) USA network and FLO(TM) technology; as well as the other risks detailed from time-to-time in the Company's SEC reports.

    QUALCOMM(R), Mobile Station Modem(TM), MSM(TM) are trademarks and/or service marks of QUALCOMM Incorporated. CDMA2000(R) is a registered trademark of the Telecommunications Industry Association. All other trademarks are the property of their respective owners.

    QUALCOMM Contact: John Gilbert, Investor Relations Phone: 1-858-658-4813 Email: ir@qualcomm.com Reconciliation of Non-GAAP Financial Measure Related to Prior Periods (In millions, except per share data) First Quarter - Fiscal Year 2006 Reconciling QUALCOMM Segments QCT QTL QWI Items (1) Pro Forma Revenues $1,033 $564 $166 $(22) $1,741 EBT 300 517 17 72 906 Net income (loss) 667 Diluted EPS $0.39 Diluted shares used 1,702 First Quarter - Fiscal Year 2006 Estimated Total Share-Based Tax QUALCOMM Segments Compensation (2) Items (3) QSI (4) (GAAP) Revenues $-- $-- $-- $1,741 EBT (122) -- (48) 736 Net income (loss) (82) 56 (21) 620 Diluted EPS $(0.05) $0.03 $(0.01) $0.36 Diluted shares used 1,702 1,702 1,702 1,702 (1) Reconciling items related to revenues consist primarily of other nonreportable segment revenues less intersegment eliminations. Reconciling items related to earnings before taxes consist primarily of corporate expenses, charges that are not allocated to the segments for management reporting purposes, unallocated net investment income, nonreportable segment results, interest expense and the elimination of intercompany profit. (2) During the first quarter of fiscal 2006, the Company adopted the fair value recognition provisions of FAS 123R using a modified prospective application. Under this method, prior periods are not revised for comparative purposes. Share-based compensation is included in operating expenses as part of employee-related costs but is not allocated to our segments as these estimated costs are not considered relevant by management in evaluating segment performance. (3) During the first quarter of fiscal 2006, the Company recorded a $56 million tax benefit, or $0.03 diluted earnings per share, related to the expected impact of prior year tax audits completed during the quarter. For fiscal 2006 pro forma presentation, results have been adjusted to exclude this tax adjustment attributable to prior years. (4) At fiscal year-end, the sum of the quarterly tax provisions for each column, including QSI, equals the annual tax provisions for each column computed in accordance with GAAP. In interim quarters, the tax provision for the QSI operating segment is computed by subtracting the tax provision for QUALCOMM pro forma, the tax adjustment column and the tax provision related to estimated share-based compensation from the tax provision for total QUALCOMM (GAAP).

    QUALCOMM Incorporated

    CONTACT: John Gilbert, Investor Relations, QUALCOMM Incorporated,
    +1-858-658-4813, ir@qualcomm.com

    Web site: http://www.qualcomm.com/




    Adelphia Announces Additional Information on Timing of Decision on Confirmation of Plan of Reorganization

    GREENWOOD VILLAGE, Colo., Dec. 21 /PRNewswire-FirstCall/ -- On December 21, 2006, the Honorable Robert J. Gerber, the United States Bankruptcy Judge for the Southern District of New York overseeing the Adelphia Communications Corporation reorganization case announced additional information on the timing of a decision regarding the confirmation of Adelphia's First Modified Fifth Amended Joint Chapter 11 Plan of Reorganization (the "Plan").

    Judge Gerber noted that a decision regarding confirmation would not be rendered by December 22, 2006, the deadline for the Effective Date contained in Section 12.2(c) of the Plan. Judge Gerber further noted that a decision may not be rendered by December 31, 2006. The Judge requested that the Settlement Parties let him know whether they will execute a waiver of the deadline for the Effective Date contained in Section 12.2(c).

    About Adelphia

    Prior to the sale of substantially all of the consolidated assets of Adelphia to Time Warner NY Cable LLC ("TW NY") and Comcast Corporation ("Comcast") on July 31, 2006 (the "Sale Transaction"), Adelphia Communications Corporation was the fifth largest cable television company in the country. It served customers in 31 states and offered analog and digital video services, high-speed Internet access and other advanced services over its broadband networks.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release includes forward-looking statements. All statements regarding the Company's and its subsidiaries' and affiliates' expected sources and uses of cash, income tax positions, indemnification obligations and any post-closing purchase price adjustments related to the sale transactions with TW NY and Comcast, settlements with the Securities and Exchange Commission (the "SEC") and the United States Attorney's Office for the Southern District of New York (the "U.S. Attorney") and future course of the Company's pending bankruptcy proceeding, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will" and other similar expressions, are forward-looking statements. Such forward-looking statements are inherently uncertain, and readers must recognize that actual results may differ materially from the Company's expectations. The Company does not undertake a duty to update such forward-looking statements. Factors that may cause actual results to differ materially from those in the forward-looking statements include the potential costs and impacts of the transactions and obligations associated with the sale transactions with TW NY and Comcast, whether and on what timetable a plan of reorganization under Chapter 11 of the Bankruptcy Code will be confirmed and consummated, whether the transactions contemplated by the settlements with the SEC and the U.S. Attorney and any other agreements needed to effect those transactions are consummated, the Company's pending bankruptcy proceeding, results of litigation against the Company, results and impacts of the sale of the Company's assets and those discussed under Item 1A, "Risk Factors," in the Company's Quarterly Report on Form 10-Q for the period ended September 30, 2006 and in the Company's Second Disclosure Statement Supplement, filed with the Bankruptcy Court on October 16, 2006, which is available in the investor relations section of the Company's website at http://www.adelphia.com/. Information contained on the Company's Internet website is not incorporated by reference into this press release. Many of these factors are outside of the Company's control.

    Adelphia Communications Corporation

    CONTACT: Media and Investor Relations, Mark Spiecker of Adelphia
    Communications Corporation, +1-303-268-6545

    Web site: http://www.adelphia.com/




    QUALCOMM Updates Financial Guidance for the First Fiscal Quarter of 2007

    SAN DIEGO, December 22 /PRNewswire/ --

    QUALCOMM Incorporated (Nasdaq: QCOM) today updated its financial guidance for the first fiscal quarter ending December 31, 2006.

    The following statements are forward looking and actual results may differ materially. Please see "Note Regarding Forward-Looking Statements" at the end of this news release for a description of certain risk factors and QUALCOMM's annual and quarterly reports on file with the Securities and Exchange Commission (SEC) for a more complete description of risks.

    Pro Forma Defined

    Pro forma results and guidance exclude the QUALCOMM Strategic Initiatives (QSI) segment, estimated share-based compensation, certain tax adjustments related to prior years and acquired in-process research and development (R&D) expense.

    First Fiscal Quarter Business Outlook

    Based on the current business outlook, we now anticipate first fiscal quarter QUALCOMM pro forma revenues to be at the high end of our prior guidance of approximately US$1.98 to US$2.08 billion. This estimate is based on the shipment of approximately 58 to 59 million Mobile Station Modem(TM) (MSM(TM)) chips during the quarter as compared to our prior estimate of 55 to 58 million. We shipped approximately 47 million MSM chips in the year ago quarter.

    We are deferring current period revenue for which we have not received payment associated with Pantech Group of South Korea due to its debt restructuring consideration. Additionally, our legal expenses in the quarter have increased above our prior expectations as we continue to vigorously defend the legal attacks on our business model. As a result, we now anticipate first fiscal quarter QUALCOMM pro forma diluted earnings per share to be approximately US$0.41 to US$0.42, compared to US$0.39 in the year ago quarter. We previously anticipated first fiscal quarter QUALCOMM pro forma diluted earnings per share of approximately US$0.42 to US$0.44.

    The majority of our licensees have reported royalties in our first fiscal quarter for products shipped in the September quarter. Based on these reports and an estimate of licensees yet to report, we anticipate September quarter shipments of approximately 75 to 76 million CDMA units (CDMA2000(R) and WCDMA) at an average selling price of approximately US$210 compared to our prior estimate of approximately 74 to 76 million units at an average selling price of approximately US$209. Approximately 52 million CDMA units were shipped in the year ago quarter.

    "Our updated guidance reflects stronger than expected new orders for our 1xEV-DO chipsets," said Dr. Paul E. Jacobs, chief executive officer of QUALCOMM. "The CDMA market, CDMA2000 and WCDMA, continues to grow at a rapid pace as evidenced by the strong handset shipments reported by our licensees. Operators are taking advantage of the high-speed data capability enabled by their CDMA-based networks to introduce new and innovative applications and services that leverage that capability."

    The following table summarizes total QUALCOMM (GAAP) and QUALCOMM pro forma guidance for the first fiscal quarter of 2007 based on the current business outlook. The pro forma business outlook provided below is presented consistent with the presentation of pro forma results elsewhere herein.

    Due to their nature, certain income and expense items such as realized investment gains or losses in QSI, gains and losses on certain derivative instruments or asset impairments, cannot be accurately forecast. Accordingly, the Company excludes forecasts of such items from its business outlook, and actual results may vary materially from the business outlook if the Company incurs any such income or expense items. Estimated share-based compensation in future periods may vary materially from the business outlook as the methodology used to calculate this estimate is dependent on a variety of assumptions which are subject to market fluctuations and other factors.

    The following estimates are approximations and are based on the current business outlook:

    (all figures in US$) Business Outlook Summary FIRST FISCAL QUARTER Prior Guidance Current Guidance Q1'06 Q1'07 Q1'07 Results Estimates Estimates QUALCOMM Pro Forma Revenues $1.74B $1.98B - $2.08B High end of prior revenue guidance Year-over-year change increase 14% - 19% Diluted earnings per share (EPS) $0.39 $0.42 - $0.44 $0.41 - $0.42 Year-over-year change increase 8% - 13% increase 5% - 8% Total QUALCOMM (GAAP) Revenues $1.74B $1.98B - $2.08B High end of prior revenue guidance Year-over-year change increase 14% - 19% Diluted earnings per share (EPS) $0.36 $0.35 - $0.37 $0.35 - $0.36 Year-over-year change decrease 3% - increase 3% decrease 3% - even Diluted EPS attributable to QSI ($0.01) ($0.02) ($0.01) Diluted EPS attributable to estimated share-based compensation ($0.05) ($0.05) ($0.05) EPS attributable to tax items related to prior years $0.03 n/a n/a Metrics MSM Shipments approx. 47M approx. 55M - 58M approx. 58M - 59M CDMA/WCDMA handset units shipped approx. 52M(i) approx. 74M - 76M(i) approx. 75M - 76M(i) CDMA/WCDMA handset unit wholesale average selling price approx. $215(i) approx. $209(i) approx. $210(i) (i) Based on shipments in Sept. quarter, reported in Dec. quarter

    QUALCOMM Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies. Headquartered in San Diego, Calif., QUALCOMM is included in the S&P 500 Index and is a 2006 FORTUNE 500(R) company traded on The Nasdaq Stock Market(R) under the ticker symbol QCOM.

    Note Regarding Use of Non-GAAP Financial Measures

    The Company presents pro forma financial information that is used by management (i) to evaluate, assess and benchmark the Company's operating results on a consistent and comparable basis, (ii) to measure the performance and efficiency of the Company's ongoing core operating businesses, including the QUALCOMM CDMA Technologies, QUALCOMM Technology Licensing and QUALCOMM Wireless & Internet segments, and (iii) to compare the performance and efficiency of these segments against each other and against competitors outside the Company. Pro forma measurements of the following financial data are used by the Company's management: revenues, R&D expenses, SG&A expenses, total operating expenses, operating income, net investment income, income before income taxes, effective tax rate, net income, diluted earnings per share, operating cash flow and free cash flow.

    Pro forma information used by management excludes the QUALCOMM Strategic Initiatives (QSI) segment, estimated share-based compensation, certain tax adjustments related to prior years and acquired in-process R&D expense. The QSI segment is excluded because the Company expects to exit its strategic investments at various times and the effects of fluctuations in the value of such investments are viewed by management as unrelated to the Company's operational performance. Estimated share-based compensation is excluded because management views the valuation of options and other share-based compensation as theoretical and unrelated to the Company's operational performance as it is affected by factors that are subject to change on each grant date including the Company's stock price, stock market volatility, expected option life, risk-free interest rates and expected dividend payouts in future years. Moreover, it is not an expense that requires or will require cash payment by the Company. Certain tax adjustments related to prior years are excluded in order to provide a clearer understanding of the Company's ongoing tax rate and after tax earnings. Acquired in-process R&D expense in fiscal 2006 is excluded because such expense is incurred infrequently and is viewed by management as unrelated to the operating activities of the Company's ongoing core businesses.

    Management is able to assess what it believes is a more meaningful and comparable set of financial performance measures for the Company and its business segments by eliminating the episodic impact of strategic investments in QSI and items such as acquired in-process R&D, as well as the inherent, non-operational volatility of share-based compensation. As a result, management compensation decisions and the review of executive compensation by the Compensation Committee of the Board of Directors focus primarily on pro forma financial measures applicable to the Company and its business segments.

    The non-GAAP pro forma financial information presented herein should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. In addition, pro forma is not a term defined by GAAP, and, as a result, the Company's measure of pro forma results might be different than similarly titled measures used by other companies. Reconciliations between total QUALCOMM (GAAP) results and guidance and QUALCOMM pro forma results and guidance are presented herein.

    Note Regarding Forward-Looking Statements

    In addition to the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties. Actual results may differ substantially from those referred to herein due to a number of factors, including but not limited to risks associated with: the rate of development, deployment and commercial acceptance of CDMA-based networks and CDMA-based technology, including CDMA2000 1X, 1xEV-DO, WCDMA and HSDPA both domestically and internationally; our dependence on major customers and licensees; fluctuations in the demand for CDMA-based products, services or applications; foreign currency fluctuations; strategic loans, investments and transactions the Company has or may pursue; our dependence on third party manufacturers and suppliers; our ability to maintain and improve operational efficiencies and profitability; developments in current and future litigation; the development, deployment and commercial acceptance of the MediaFLO(TM) USA network and FLO(TM) technology; as well as the other risks detailed from time-to-time in the Company's SEC reports.

    QUALCOMM(R), Mobile Station Modem(TM), MSM(TM) are trademarks and/or service marks of QUALCOMM Incorporated. CDMA2000(R) is a registered trademark of the Telecommunications Industry Association. All other trademarks are the property of their respective owners.

    QUALCOMM Contact: John Gilbert, Investor Relations Phone: +1-858-658-4813 Email: ir@qualcomm.com Reconciliation of Non-GAAP Financial Measure Related to Prior Periods (In US$ millions, except per share data) First Quarter - Fiscal Year 2006 Reconciling QUALCOMM Segments QCT QTL QWI Items (1) Pro Forma Revenues $1,033 $564 $166 $(22) $1,741 EBT 300 517 17 72 906 Net income (loss) 667 Diluted EPS $0.39 Diluted shares used 1,702 First Quarter - Fiscal Year 2006 Estimated Total Share-Based Tax QUALCOMM Segments Compensation (2) Items (3) QSI (4) (GAAP) Revenues $-- $-- $-- $1,741 EBT (122) -- (48) 736 Net income (loss) (82) 56 (21) 620 Diluted EPS $(0.05) $0.03 $(0.01) $0.36 Diluted shares used 1,702 1,702 1,702 1,702 (1) Reconciling items related to revenues consist primarily of other nonreportable segment revenues less intersegment eliminations. Reconciling items related to earnings before taxes consist primarily of corporate expenses, charges that are not allocated to the segments for management reporting purposes, unallocated net investment income, nonreportable segment results, interest expense and the elimination of intercompany profit. (2) During the first quarter of fiscal 2006, the Company adopted the fair value recognition provisions of FAS 123R using a modified prospective application. Under this method, prior periods are not revised for comparative purposes. Share-based compensation is included in operating expenses as part of employee-related costs but is not allocated to our segments as these estimated costs are not considered relevant by management in evaluating segment performance. (3) During the first quarter of fiscal 2006, the Company recorded a $56 million tax benefit, or $0.03 diluted earnings per share, related to the expected impact of prior year tax audits completed during the quarter. For fiscal 2006 pro forma presentation, results have been adjusted to exclude this tax adjustment attributable to prior years. (4) At fiscal year-end, the sum of the quarterly tax provisions for each column, including QSI, equals the annual tax provisions for each column computed in accordance with GAAP. In interim quarters, the tax provision for the QSI operating segment is computed by subtracting the tax provision for QUALCOMM pro forma, the tax adjustment column and the tax provision related to estimated share-based compensation from the tax provision for total QUALCOMM (GAAP).

    Web site: http://www.qualcomm.com

    QUALCOMM Incorporated

    John Gilbert, Investor Relations, QUALCOMM Incorporated, +1-858-658-4813, ir@qualcomm.com




    Silicon Image and Genesis Microchip Sign Settlement and License Agreement; Silicon Image Expects $13-$15 Million Increase in Fourth Quarter 2006 Operating Income

    SUNNYVALE, Calif., Dec. 21 /PRNewswire-FirstCall/ -- Silicon Image, Inc. , a leader in semiconductors for the secure storage, distribution and presentation of high-definition content, today announced it has signed a settlement and license agreement with Genesis Microchip Inc., which includes provisions for ongoing royalty licensing revenue for Silicon Image on DVI and HDMI products, resolving an outstanding patent matter between the two companies. As a result of this agreement, Silicon Image will record a one-time catch-up of previously earned royalties and a partial recovery of patent assertion costs in its fourth quarter ending Dec. 31, 2006.

    The agreement concludes matters associated with a suit that Silicon Image originally filed in 2001 in the U.S. District Court for the Eastern District of Virginia against Genesis Microchip Corp. and Genesis Microchip Inc. (collectively, "Genesis") for infringement of Silicon Image's patents.

    Genesis had paid Silicon Image $11 million through Sept. 30, 2006 relating to this matter. As a result of the signing of the settlement and license agreement, Genesis is obligated to pay Silicon Image additional monies and Silicon Image expects to record approximately a $13 to $15 million increase (inclusive of the $11 million in payments received from Genesis through Sept. 30, 2006) in operating income in the quarter ending Dec. 31, 2006. The exact composition of increase between licensing revenue, recovery of patent assertion expenses and other items is not currently known as Silicon Image is awaiting required royalty data from Genesis.

    Silicon Image will host a conference call to discuss the settlement and license agreement at 5:30 a.m. Pacific Time on Dec. 22, 2006. To access the conference call, dial 913-981-5559 and enter pass code 1594081. A replay of the conference call will be available until midnight Pacific Time, Jan. 20, 2007. To access the replay, dial 719-457-0820 and enter pass code 1594081. A webcast of the call will also be available on the investor relations site located at http://www.siliconimage.com/ .

    About Silicon Image, Inc.

    Headquartered in Sunnyvale, Calif., Silicon Image, Inc. is a leader in driving the architecture and semiconductor implementations for the secure storage, distribution and presentation of high-definition content in the consumer electronics and personal computing markets. Silicon Image creates and drives industry standards for digital content delivery such as DVI, HDMI(TM) and Serial ATA (SATA), leveraging partnerships with global leaders in the consumer electronics and personal computing markets to meet the growing digital content needs of consumers worldwide. The Simplay HD(TM) Testing Program administered by Silicon Image's wholly-owned subsidiary, Simplay Labs, LLC, provides compatibility testing for high-definition consumer electronics devices such as HDTVs, set-top boxes, audio/video receivers and DVD players, helping manufacturers to achieve compatibility and deliver the highest-quality HDTV experience to consumers. Silicon Image is the leading provider of semiconductor intellectual property solutions for high-definition multimedia and data storage applications. For more information, please visit http://www.siliconimage.com/ .

    NOTE: Silicon Image and Simplay HD are trademarks, registered trademarks or service marks of Silicon Image, Inc. in the United States and other countries. HDMI(TM) and High-Definition Multimedia Interface are trademarks or registered trademarks of HDMI Licensing, LLC in the United States and other countries, and are used under license from HDMI Licensing, LLC. All other trademarks and registered trademarks are the property of their respective owners.

    Forward-Looking Statements

    This news release contains forward-looking information within the meaning of federal securities regulations. These forward-looking statements include statements related to payments that Silicon Image anticipates to receive from Genesis and the anticipated accounting of the settlement and license agreement with Genesis. These forward-looking statements involve risks and uncertainties, including those described from time to time in Silicon Image's filings with the Securities and Exchange Commission (SEC) that could cause the actual results to differ materially from those anticipated by these forward-looking statements. In particular, the actual payments that Silicon Image receives from Genesis and the actual accounting of the settlement and license agreement with Genesis may differ materially from what is currently anticipated. In addition, see the Risk Factors section of the most recent Form 10-K or Form 10-Q filed by Silicon Image with the SEC. Silicon Image assumes no obligation to update any forward-looking information contained in this press release.

    Silicon Image, Inc.

    CONTACT: investors, David H. Allen, +1-408-616-4003, or fax,
    +1-408-830-9531, or david.allen@siliconimage.com, or media, Kasey Holman,
    +1-408-616-4192, or kasey.holman@siliconimage.com, both of Silicon Image,
    Inc.

    Web site: http://www.siliconimage.com/

    page 1    

    News archive of November 2017
    1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  25  26  27  28  29  30 



    News Archives of December 2006
    1   2   3   4   5   6   7   8   9   10   11   12   13   14   15   16   17   18   19   20   21   22   23   24   25   26   27   28   29   30   31  

    News Archives other dates
  •  
    0-C     D-L     M-R     S-Z