Companies news of 2008-02-20 (page 1)
Oracle Announces IBM AIX Support for Oracle(R) Communications Billing and Revenue...
SRA Names Kevin W. Layton Senior Vice President of Technical Operations
GSI Commerce to Participate in Jefferies & Co. Fourth Annual Internet Conference
First Advantage Corporation Reports Operating Results for the Fourth Quarter of and Full...
Centillium Communications Announces Fourth Quarter and 2007 Financial Results
Synopsys Posts Financial Results for First Quarter Fiscal Year 2008
American Software, Inc. Invites You to Join Its Third Quarter Fiscal Year 2008 Conference...
SXC Health Solutions to Host Fiscal 2007 Fourth Quarter and Year End Financial Results...
GSI Schedules Fourth Quarter Earnings Call
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Xbox 360 Becomes First Video Game Console Ever to Invite the World to Create Original...
Level 3 President and COO Kevin O'Hara to Speak at the Merrill Lynch Communications...
CGI to Present at the TD Newcrest Tech-Media-Telecom Conference February 21 in...
Beliefnet Joins With RealGames to Provide Casual Games That Stimulate the Mind, Challenge...
Pratt & Whitney Awarded $521.2 Million Contract for F119 Engine Support
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Nickelodeon's Fairly OddParents' Feb. 18th Special Ranks as TV's Top-Rated Kids' Program...
Malaysia Genome Institute Advances Bioinformatics Research Using SGI TechnologySGI Altix,...
Secured Digital Storage Confirms Name Change; Commences Trading Under New Symbol
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Sky440 Names New Board
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WallSt.net (www.wallst.net) Announces Upcoming Interview With President and CEO of EP...
TV Azteca Investor Relations Website Receives International Design Award
LeGuide.com: Forte progression 2007 vs 2006 : Chiffre d'affaires : + 54% - Résultat...
Conference Call Notice - Cinram International Income Fund Fourth Quarter and Full-Year...
Marriott Recycles Computers and Electronics, Nearly 400,000 Pounds of...
Automated Vending Technologies Enters Into Agreement With 24 HR. PRODUCTS to Build a...
Ma Bell, Meet Joe Gamer: Sony Online Entertainment Ushers in New Era of Voice Chat for...
Oracle Announces IBM AIX Support for Oracle(R) Communications Billing and Revenue ManagementPartnership with IBM Delivers Increased Flexibility to Service Providers
REDWOOD SHORES, Calif., Feb. 20 /PRNewswire-FirstCall/ --
-- Oracle today announced that Oracle Communications Billing and Revenue
Management -- its convergent, real-time billing and revenue management
application -- now supports IBM's AIX operating system.
-- AIX, IBM's UNIX(R) operating system, in combination with IBM's PowerVM
virtualization offerings, provides new levels of flexibility and
performance to allow consolidation of workloads on fewer servers, which
can increase efficiency and conserve energy. AIX operates on the IBM
systems based on Power Architecture(TM) technology.
-- With this announcement, Oracle extends its support for AIX, which it
has previously supported with other Oracle Communications applications
including Oracle Communications Service Activation, Oracle
Communications Unified Inventory Management and Oracle Communications
Order and Service Management - all components of the Oracle Service
Fulfillment Suite - as well as Oracle's Siebel CRM.
-- Oracle's support of AIX gives service providers greater flexibility in
implementing Oracle's applications and strengthens Oracle's
relationship with IBM, a member of the Oracle PartnerNetwork.
-- Oracle Communications Billing and Revenue Management support for AIX is
available now.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO)
Supporting Quotes
-- "By supporting AIX, we give service providers increased flexibility to
choose the operating system that works best for their environments,
helping them implement Oracle Communications Billing and Revenue
Management smoothly to more quickly realize the benefits of its unified
view of customer and revenue data across any service, product,
promotion, or payment method," said David Sharpley, vice president
product marketing and channels, Oracle Communications.
-- "The AIX operating system delivers robust, scalable performance, which
is essential for meeting the demands of today's information technology
environments. Working in concert with the Oracle solution, AIX is an
ideal operating system for handling the heavy-duty transaction
workloads common in the telecommunications industry," said Scott Handy,
vice president of worldwide marketing and strategy, IBM Power Systems.
Supporting Resources
http://www.oracle.com/industries/communications/index.html
http://www.oracle.com/industries/communications/communications-billing- revenue-management.html
http://www.oracle.com/industries/communications/comm-bill-rev- datasheet.pdf
About Oracle Communications
Oracle is #1 in Communications globally with 20 of the world's top 20 communications companies running Oracle applications. Oracle Communications integrates industry-specific BSS and OSS solutions with the capabilities of Oracle's industry-leading enterprise applications, business intelligence tools, and carrier-grade middleware and database technologies. Oracle Communications enables service providers to deliver next generation convergent services rapidly, increase customer satisfaction and loyalty, and reduce costs in the business and the network. For more information, visit http://www.oracle.com/Communications
About Oracle
Oracle is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com/.
Trademark
Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.
Photo: http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Oracle
CONTACT: Caroline Yu of Oracle, +1-650-506-8920, caroline.yu@oracle.com; or Janice Hazen of O'Keeffe & Company, +1-770-938-4753, jhazen@okco.com
Web site: http://www.oracle.com/
SRA Names Kevin W. Layton Senior Vice President of Technical Operations
FAIRFAX, Va., Feb. 20 /PRNewswire-FirstCall/ -- SRA International, Inc. , a leading provider of technology and strategic consulting services and solutions to government organizations, today announced the appointment of Kevin Layton as Senior Vice President Technical Operations. Layton brings to SRA more than 20 years of expertise in leading the development of network, radar and command and control systems on an international scale.
Reporting to SRA President & CEO Stan Sloane, Layton will serve as SRA's Chief Engineer and be responsible for all aspects of systems engineering and technical oversight. Prior to joining SRA he served as Systems Engineering, Integration and Test Director for the Information Systems and Global Services business unit at Lockheed Martin Corporation. He has extensive experience in leading billion-dollar projects through all phases of technical development, integration and production as well as providing oversight for large engineering organizations.
"Kevin is a key addition to the SRA leadership team," said Sloane. "His many years as a leader in technical operations for both domestic and international business programs will be important as we continue to grow our products and services and expand our business footprint in the U.S. and around the world."
Layton has held a number of key technical leadership positions at Lockheed Martin and Sensis Corporation, a global provider of air defense, air traffic control, airline and airport operations management, and data integration and distribution.
About SRA International, Inc.
SRA is a leading provider of technology and strategic consulting services and solutions -- including systems design, development, and integration; and outsourcing and managed services -- to clients in national security, civil government, and health care and public health markets. The Company also delivers business solutions for contingency and disaster response planning, information assurance, business intelligence, environmental strategies, enterprise architecture, infrastructure management, and wireless integration.
FORTUNE(R) magazine has chosen SRA as one of the "100 Best Companies to Work For" for nine consecutive years. The Company's 6,400 employees serve clients from its headquarters in Fairfax, Virginia, and offices around the world. For additional information on SRA, please visit http://www.sra.com/.
Any statements in this press release about future expectations, plans, and prospects for SRA, including statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements included in this press release represent our views as of February 20, 2008. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to February 20, 2008.
SRA International, Inc.
CONTACT: Sheila S. Blackwell, Media Relations for SRA International, Inc., +1-703-227-8345, sheila_blackwell@sra.com
Web site: http://www.sra.com/
GSI Commerce to Participate in Jefferies & Co. Fourth Annual Internet Conference
KING OF PRUSSIA, Pa., Feb. 20 /PRNewswire-FirstCall/ -- Leading e-commerce solutions provider, GSI Commerce Inc. , today announced that Michael R. Conn, the company's executive vice president of finance and chief financial officer, is scheduled to present at the Jefferies & Company's Fourth Annual Internet Conference to be held in New York on Feb. 27 at 8 a.m. EST.
A live audio webcast of the presentation will be available to the public at http://www.wsw.com/webcast/jeff24/register.aspx?conf=jeff24. A replay of the audio webcast will be available through the same link for 90 days after the conference.
About GSI Commerce
GSI Commerce(R) is a leading provider of services that enable e-commerce, multichannel retailing and interactive marketing for large, business-to-consumer (b2c) enterprises in the U.S. and internationally. We deliver customized e-commerce solutions through an e-commerce platform, which is comprised of technology, fulfillment and customer care. We offer each of the platform's components on a modular basis, or as part of an integrated, end-to-end solution. We also offer a full suite of interactive marketing services through two divisions, gsi interactive(SM) and e-Dialog Inc.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements to be made during the presentation, including those in the tape recording, live audio and live Webcast of the presentation, other than statements of historical fact, are or will be forward-looking statements. Actual results might differ materially from what is expressed or implied by these forward-looking statements. Additional information about potential factors that could affect GSI Commerce can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed by GSI Commerce with the SEC. GSI Commerce expressly disclaims any intent or obligation to update these forward-looking statements.
Contact:
GSI Commerce, Inc.
Corporate Marketing
610.491.7474
Fax: 610.265.2866
news@gsicommerce.com
GSI Commerce Inc.
CONTACT: GSI Commerce, Inc., Corporate Marketing, +1-610-491-7474, Fax, +1-610-265-2866, news@gsicommerce.com
Web site: http://www.gsicommerce.com/ http://www.wsw.com/webcast/jeff24/register.aspx?conf=jeff24
First Advantage Corporation Reports Operating Results for the Fourth Quarter of and Full Year 2007
POWAY, Calif., Feb. 20 /PRNewswire-FirstCall/ -- First Advantage Corporation , a global risk mitigation and business solutions provider, today announced operating results for the fourth quarter and full year ended Dec. 31, 2007.
First Advantage reported income from continuing operations of $77.4 million ($1.30 per diluted share) for the quarter ended Dec. 31, 2007, compared to $17.6 million (30 cents per diluted share) for the quarter ended Dec. 31, 2006. Income from continuing operations for the quarter and year ended Dec. 31, 2007, includes a pretax investment gain of $97.4 million ($58.4 million after tax or 99 cents per diluted share) related to the sale of common stock of DealerTrack Holdings, Inc. and a $7.0 million gain ($4.1 million after tax or 7 cents per diluted share) related to DealerTrack in the quarter and year ended Dec. 31, 2006. Excluding these gains, diluted earnings per share from continuing operations was 31 cents in the fourth quarter of 2007, compared to 23 cents in the fourth quarter of 2006, a 35 percent increase.
Income from continuing operations was $124.0 million or $2.10 per diluted share for the year ended Dec. 31, 2007, compared to $65.6 million or $1.13 per diluted share for the year ended Dec. 31, 2006. Excluding the impact of the investment gains recognized in the fourth quarter of 2007 and 2006, earnings per diluted share from continuing operations was $1.11 in 2007, compared to $1.06 in 2006. Results of operations for 2007 include $8.0 million of severance costs incurred in the first quarter of 2007 ($4.7 million after tax or 8 cents per share) and $1.7 million of restructuring charges related to our Employer Services segment ($1.0 million after tax or 2 cents per share) recognized in the third quarter of 2007. Excluding these two items and the investment gains, diluted earnings per share from continuing operations increased from $1.06 in 2006 to $1.21 in 2007, an increase of 14 percent.
Income from discontinued operations for the quarter and year ended Dec. 31, 2007, was $12.2 million (21 cents per diluted share) and $14.1 million (24 cents per diluted share), respectively, which includes a gain of $12.1 million net of tax (21 cents per diluted share) for the sale of US SEARCH.com, our consumer location business.
Service revenue for the company was $192.1 million and $788.1 million for the quarter and year ended Dec. 31, 2007, respectively. Service revenue was $187.2 million and $745.1 million for the quarter and year ended Dec. 31, 2006, respectively.
Earnings before interest, taxes, depreciation and amortization, minority interest, gain on investment and share-based compensation expense (adjusted EBITDA) were $43.9 million and $175.9 million for the quarter and year ended Dec. 31, 2007, respectively. Adjusted EBITDA was $38.6 million and $170.4 million for the quarter and year ended Dec. 31, 2006.
"Considering the stiff headwinds encountered due to the economic environment, particularly in the mortgage credit and lead generation areas, we are pleased with our financial performance for the year 2007," said Anand Nallathambi, First Advantage president and chief executive officer. "The diversity in our business segments combined with the broader set of industry verticals we serve helped deliver results that exceeded expectations.
"Our Employer Services segment reported solid sales growth with improved operating margins during the fourth quarter and full year, and accounted for almost one-third of our total service revenue in the fourth quarter of 2007. This segment benefits from a strong market position, especially in the middle market sector, across many industry verticals. In 2007, the cross-selling of products and services increased by 30 percent over the previous year. Our international operations, more specifically in foreign background screening and hiring management systems, have seen significant organic growth, 38 percent year-over-year. The outlook for further growth internationally is very promising.
"We are also pleased with the results of our Investigative and Litigation Support Services segment. Our e-discovery and professional services business, which includes computer forensics and data recovery, grew 67 percent year-over-year with significant margin improvements.
"While the uncertainty over the economic turnaround in the housing market and lead generation is still there, our 2008 business plan assumes recovery in those markets in the second half of the year. We expect service revenue for 2008 to be in the $825 million to $845 million range with diluted earnings per share of $1.27 to $1.32."
Recently, First Advantage announced the acquisition of CredStar and Verify Ltd.
CredStar, the mortgage credit reporting business of Fiserv, Inc., is a strategic fit for the Lender Services segment. The unit adds scale and product feature functionality to the existing product mix and enhances First Advantage's ability to penetrate adjacent markets for mortgage credit services.
The February purchase of Verify Ltd., a fast growing background screening company in Asia, extends the Employer Services segment's reach into China, Malaysia, Hong Kong, Singapore and India. Specifically, Verify's client base adds top-tier financial services institutions to First Advantage's growing international client base, as well as adding operational scale, management bench strength and new products to build a sustainable competitive advantage in a key global growth market, Asia Pacific.
First Advantage's fourth quarter and full year 2007 results will be discussed in more detail on Wednesday, Feb. 20, 2008, at 5:00 p.m. EST, via teleconference and webcast. The teleconference dial-in number is 888.889.1652 within the U.S. and 210.795.9764 outside the U.S., and the passcode is "Advantage." The live audio webcast of the call will be accessible from the Investor Relations section of First Advantage's Web site at http://www.fadv.com/. An audio replay of the teleconference call will be available through March 5, 2008, by dialing 800.294.9511 within the U.S., or 203.369.3236 outside the U.S. An audio archive of the webcast will also be available for replay on First Advantage's Web site following the call.
Summary Consolidated Income Statement (Unaudited)
(In thousands, except per Three Months Ended Twelve Months Ended
share amounts) Dec. 31, Dec. 31,
2007 2006 2007 2006
Service revenue $192,051 $187,190 $788,135 $745,078
Reimbursed government fee
revenue 12,841 12,780 54,767 52,723
Total revenue 204,892 199,970 842,902 797,801
Cost of service revenue 49,783 60,492 226,984 237,021
Government fees paid 12,841 12,780 54,767 52,723
Total cost of sales 62,624 73,272 281,751 289,744
Gross margin 142,268 126,698 561,151 508,057
Salaries and benefits 68,334 59,058 274,237 234,916
Facilities and
telecommunications 7,999 7,716 32,420 29,548
Other operating expenses 24,930 24,621 94,802 86,403
Depreciation and
amortization 11,097 10,436 42,118 37,774
Income from operations 29,908 24,867 117,574 119,416
Interest (expense) income:
Interest expense (1,368) (3,257) (10,637) (13,319)
Interest income 1,061 356 2,036 909
Interest (expense)
income, net (307) (2,901) (8,601) (12,410)
Equity in earnings of
investee 624 892 2,939 2,299
Gain on investment 97,380 6,993 97,380 6,993
Income from continuing
operations before income
taxes and minority interest 127,605 29,851 209,292 116,298
Provision for income taxes 50,324 11,360 84,080 47,383
Income from continuing
operations before minority
interest 77,281 18,491 125,212 68,915
Minority interest (83) 875 1,177 3,314
Income from continuing
operations 77,364 17,616 124,035 65,601
Income from discontinued
operations, net of tax 63 539 1,935 560
Gain on sale of discontinued
operations, net of tax 12,137 --- 12,137 ---
Net income $89,564 $18,155 $138,107 $66,161
Per share amounts, basic:
Income from continuing
operations $1.31 $0.30 $2.11 $1 .14
Income from discontinued
operations, net of tax --- 0.01 0.03 0.01
Gain on sale of discontinued
operations, net of tax 0.21 --- 0.21 ---
Net Income $1.52 $0.31 $2.35 $1.15
Basic weighted-average
shares outstanding 59,084 58,155 58,871 57,502
Per share amounts, diluted
Income from continuing
operations $1.30 $0.30 $2.10 $1.13
Income from discontinued
operations, net of tax --- 0.01 0.03 0.01
Gain on sale of discontinued
operations, net of tax 0.21 --- 0.21 ---
Net income $1.51 $0.31 $2.34 $1.14
Diluted weighted-average
shares outstanding 59,188 58,294 59,121 58,079
EBITDA calculation:
Net income $89,564 $18,155 $138,107 $66,161
Provision for income taxes 50,324 11,360 84,080 47,383
Minority interest (83) 875 1,177 3,314
Interest expense 307 2,901 8,601 12,410
Depreciation and
amortization 11,097 10,436 42,118 37,774
Gain on investment (97,380) (6,993) (97,380) (6,993)
Income from discontinued
operations, net of tax (63) (539) (1,935) (560)
Gain on sale of
discontinued operations,
net of tax (12,137) --- (12,137) ---
Earnings before interest,
taxes, depreciation and
amortization (EBITDA)* $41,629 $36,195 $162,631 $159,489
Share based compensation
expense 2,316 2,435 13,258 10,919
Adjusted EBITDA $43,945 $38,630 $175,889 $170,408
*EBITDA and adjusted EBITDA are not measures of financial performance under generally accepted accounting principles. EBITDA and adjusted EBITDA are used by certain investors to analyze and compare companies.
Segment Financial Information (Unaudited)
Three Months Ended Twelve Months Ended
Dec. 31, Dec. 31,
(In thousands, except
percentages) 2007 2006 2007 2006
Service revenue
Lender Services $27,583 $40,968 $151,163 $175,991
Data Services 26,352 34,325 121,788 128,961
Dealer Services 25,084 27,990 113,448 120,780
Employer Services 61,629 55,279 233,163 195,180
Multifamily Services 15,296 14,743 72,276 68,811
Investigative & Litigation
Support Services 36,666 14,711 98,955 59,162
Corporate (559) (826) (2,658) (3,807)
Consolidated $192,051 $187,190 $788,135 $745,078
Income (Loss) from
operations
Lender Services $2,107 $11,802 $33,109 $54,271
Data Services 4,914 10,963 33,687 40,113
Dealer Services 3,272 2,299 14,510 16,113
Employer Services 10,666 5,871 29,126 19,832
Multifamily Services 2,365 2,105 18,621 15,128
Investigative & Litigation
Support Services 16,482 2,555 34,154 11,377
Corporate (9,898) (10,728) (45,633) (37,418)
Consolidated $29,908 $24,867 $117,574 $119,416
Operating margin percentage
of service revenue
Lender Services 7.64 % 28.81 % 21.90 % 30.84 %
Data Services 18.65 % 31.94 % 27.66 % 31.10 %
Dealer Services 13.04 % 8.21 % 12.79 % 13.34 %
Employer Services 17.31 % 10.62 % 12.49 % 10.16 %
Multifamily Services 15.46 % 14.28 % 25.76 % 21.98 %
Investigative & Litigation
Support Services 44.95 % 17.37 % 34.51 % 19.23 %
Corporate N/A N/A N/A N/A
Consolidated 15.57 % 13.28 % 14.92 % 16.03 %
About First Advantage Corporation
First Advantage Corporation combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of consumer credit information in the mortgage, automotive and specialty finance markets; business credit information in the transportation industry; lead generation services; motor vehicle record reports; supply chain security consulting; employment background verifications; occupational health services; applicant tracking systems; recruiting solutions; skills and behavioral assessments; business tax consulting services; insurance fraud, corporate and litigation investigations; surveillance; computer forensics; electronic discovery; data recovery; due diligence reporting; resident screening; property management software and renters insurance. First Advantage ranks among the top companies in all of its major business lines. First Advantage is headquartered in Poway, Calif., and has 4,700 employees in offices throughout the United States and abroad. More information about First Advantage can be found at http://www.fadv.com/.
First Advantage is a majority-owned subsidiary of The First American Corporation , a FORTUNE 500(R) company that traces its history to 1889. First American is America's largest provider of business information, supplying businesses and consumers with valuable information products to support the major economic events of people's lives. Additional information about the First American Family of Companies can be found at http://www.firstam.com/.
Certain statements in this press release are forward looking, including those related to earnings per share in 2008 and 2008 service revenue. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include: general volatility of the capital markets and the market price of the company's Class A common stock; the company's ability to successfully raise capital; the company's ability to identify and complete acquisitions and successfully integrate businesses it acquires; changes in applicable government regulations; the degree and nature of the company's competition; increases in the company's expenses; continued consolidation among the company's competitors and customers; unanticipated technological changes and requirements; the company's ability to identify suppliers of quality and cost-effective data; and other risks identified from time-to-time in the company's SEC filings. The forward-looking statements speak only as of the date they are made. The company does not undertake to update forward- looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. Investors are advised to consult the company's filings with the SEC, including its 2006 Annual Report on Form 10-K and subsequent amendments, for a further discussion of these and other risks.
Contacts:
Henri Van Parys Cindy Williams
Corporate Communications Manager Investor Relations Manager
727.214.3411, ext. 4136 727.214.3411, ext. 4160
henri.vanparys@FADV.com clwilliams@FADV.com
First Advantage Corporation
CONTACT: Henri Van Parys, Corporate Communications Manager, +1-727-214-3411, ext. 4136, henri.vanparys@FADV.com; or Cindy Williams, Investor Relations Manager, +1-727-214-3411, ext. 4160, clwilliams@FADV.com, both of First Advantage Corporation
Web site: http://www.fadv.com/ http://www.firstam.com/
Centillium Communications Announces Fourth Quarter and 2007 Financial Results
FREMONT, Calif., Feb. 20 /PRNewswire-FirstCall/ -- Centillium Communications, Inc. , a leading provider of broadband access solutions, today announced financial results for the fourth quarter and year ended Dec. 31, 2007.
Net revenues for the fourth quarter of 2007 were $8.6 million, compared with $10.0 million during the third quarter of 2007 and $10.0 million during the fourth quarter of 2006.
For the year ended Dec. 31, 2007, net revenues were $39.2 million, compared with $64.6 million in 2006.
The GAAP gross margin was 168 percent (64.4 percent, non-GAAP) for the fourth quarter of 2007, compared with 62.4 percent (62.5 percent, non-GAAP) for the third quarter of 2007 and 58.0 percent (58.2 percent, non-GAAP) for the fourth quarter of 2006. The GAAP gross margin for the fourth quarter of 2007 included a 103% benefit from the reversal of accrued royalties. Further information about non-GAAP measures is provided below.
Net income was $2.4 million on a GAAP basis, or $0.06 per share, for the fourth quarter of 2007, compared with a net loss of $5.2 million, or $0.13 per share, for the third quarter of 2007 and a net loss of $6.0 million, or $0.15 per share, for the fourth quarter of 2006. The GAAP net income for the fourth quarter included an $8.9 million benefit from the reversal of accrued royalties; restructuring expense related to surplus space of $518,000; and a $1.4 million impairment of assets charge related to the divestiture of our DSL business. The GAAP results for all periods include charges for stock-based compensation due to the adoption of SFAS 123R, effective Jan. 1, 2006.
Non-GAAP results were a net loss of $4.2 million, or a net loss of $0.10 per share, for the fourth quarter of 2007, compared with a net loss of $4.7 million, or a net loss of $0.11 per share, for the third quarter of 2007 and a net loss of $5.2 million, or $0.13 per share, for the fourth quarter of 2006. The non-GAAP results for the fourth quarter excludes the effect of the $8.9 million benefit from the reversal of accrued royalties; restructuring expense related to surplus space of $518,000; stock-based compensation of $336,000; and a $1.4 million impairment of assets charge related to the divestiture of our DSL business. The non-GAAP results for the third quarter of 2007 and the fourth quarter of 2006 exclude stock-based compensation of $496,000 and $768,000, respectively.
For the year ended Dec. 31, 2007, GAAP results were a net loss of $17.6 million, or a net loss of $0.43 per share, compared with a net loss of $10.7 million, or $0.27 per share in the prior year.
For the year ended Dec. 31, 2007, non-GAAP results were a net loss of $19.8 million, or a net loss of $0.48 per share, compared with a net loss of $7.5 million, or $0.19 per share, in the prior year. The non-GAAP net loss for the year ended Dec. 31, 2007 excludes the effect of the $8.9 million benefit from the reversal of accrued royalties; loss on settlement of $2.5 million; stock-based compensation of $1.9 million; restructuring expense of $827,000; and a $1.4 million impairment of assets charge related to the divestiture of our DSL business.
Total cash and short-term investments were $36.8 million at Dec. 31, 2007, compared with $41.7 million at Sept. 30, 2007.
"On Feb. 13, 2008, we completed the sale of our DSL business to Ikanos Communications, Inc. for $12 million in cash," said Faraj Aalaei, co-founder and CEO of Centillium. "The sale of our DSL business will allow us to focus our resources on Optical and VoIP, our two key growth businesses. We will continue to focus on delivering exceptional products, expanding our worldwide customer base, improving our competitive position and growing our market share," said Aalaei.
Conference Call Information
A conference call to review the fourth quarter and 2007 financial results will follow this press release today at 2:00 p.m. Pacific time/5:00 p.m. Eastern time. To listen to the call, please dial (210) 839-8948, passcode: Centillium. A replay will be made available approximately one hour after the conclusion of the call and will remain available for approximately one week. To access the replay, dial (203) 369-3687. The conference call will also be web cast over the Internet; visit the Investor Relations section of the Centillium Communications website at http://www.centillium.com/ to access the call from the website. This web cast will be recorded and available for replay on the Centillium website from approximately two hours after the conclusion of the conference call until March 31, 2008.
Non-GAAP Financial Measures
In this earnings press release and during the earnings conference call and webcast as described above, Centillium has supplemented and will supplement its reported GAAP financials with non-GAAP measures. Non-GAAP gross margin, operating expenses, net loss and net loss per share, where applicable, exclude the effect of stock-based compensation and, with respect to the twelve months ended Dec. 31, 2007, the effect of the reversal of accrued royalties, restructuring expense, an impairment of assets charge related to the divestiture of our DSL business, and the loss on settlement of litigation. The company uses the non-GAAP information internally to evaluate its continuing operational performance and its cash requirements and to determine incentive compensation, and believes these non-GAAP measures are useful to investors as they provide additional insight into the underlying operating results and the company's cash requirements and its ongoing performance in the ordinary course of its operations. However, non-GAAP measures are not stated in accordance with, should not be considered in isolation from and are not a substitute for GAAP measures, and our non-GAAP measures may be different from similarly titled non-GAAP measures reported by other companies. A reconciliation of GAAP to non-GAAP results is provided in the table immediately below the GAAP Consolidated Statements of Operations included in this earnings press release.
About Centillium Communications, Inc.
Centillium Communications, Inc. is a leading innovator of high performance, cost-effective semiconductor solutions that give consumers, enterprises and service providers the winning edge in broadband access. The company's complete, end-to-end system-on-chip solutions accelerate development time-to-market for "last mile" products with Fiber-To-The-Premises (FTTP) and Voice-over-Internet Protocol (VoIP) technologies. Centillium products include digital and mixed-signal integrated circuits and related software for FTTP central office and customer premises equipment and VoIP solutions for carrier- and enterprise-class gateways and consumer telephony. Centillium is a global company with headquarters in Fremont, CA. Additional information is available at http://www.centillium.com/.
This press release includes statements that are forward-looking statements within the meaning of U.S. federal securities laws. For example, this press release speaks to Centillium's focus and expected growth in its Optical (FTTP) and VoIP businesses, and potential increases in customer base and market share. Actual results may differ materially from those indicated by such forward-looking statements based on a variety of risks and uncertainties, including without limitation the risk that Centillium's new focus on Optical and VoIP products will not be successful and that its growth expectations for those businesses will not be achieved; the risk that the anticipated expense savings and other anticipated benefits from Centillium's divestiture will be larger than currently anticipated; the possibility of business disruption resulting from the divestiture; as well as risks and uncertainties relating to the rate and breadth of deployment of broadband access in general, especially Optical (FTTP) and VoIP technologies, and Centillium's technology solutions in particular; the successful development and market acceptance of Centillium's new products and technology; Centillium's dependence on a few significant customers for a substantial portion of its revenue; Centillium's ability to continue and expand on its relationships with new customers; the timing, rescheduling or cancellation of significant customer orders and Centillium's ability, as well as the ability of its customers, to manage inventory; Centillium's ability to specify, develop or acquire, complete, introduce, market and transition to volume production new products and technologies in a cost-effective and timely manner; competitive pressures and other factors such as the qualification, availability and pricing of competing products and technologies and the resulting effects on sales and pricing of Centillium's products; the timing of customer-industry qualification and certification of Centillium's products and the risks of non-qualification or non-certification; Centillium's ability to timely and accurately predict market requirements and evolving industry standards and to identify opportunities in new markets; changes in Centillium's product or customer mix; the satisfactory completion of the audits of Centillium's financial statements and systems of internal control; intellectual property disputes and customer indemnification claims and other types of litigation risk; the effectiveness of Centillium's expense and product cost control and reduction efforts; and Centillium's ability to attract, retain and motivate qualified personnel, including executive officers and other key management and technical personnel. Centillium undertakes no obligation to update forward-looking statements for any reason. Information about potential factors that could affect Centillium's financial results is included in Centillium's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and in other documents on file with the Securities and Exchange Commission.
Centillium Communications and the Centillium Logo are trademarks of Centillium Communications, Inc. in the United States and certain other countries. All rights reserved.
- Summary Financial Data Attached -
CENTILLIUM COMMUNICATIONS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended Twelve Months Ended
December September December December December
31, 30, 31, 31, 31,
2007 2007 2006 2007 2006
(In thousands, except per share data)
Net revenues $8,593 $10,026 $10,016 $39,175 $64,563
Cost of revenues (a) 3,053 3,767 4,203 16,369 29,391
Reversal of accrued
royalties (8,887) - - (8,887) -
Gross profit 14,427 6,259 5,813 31,693 35,172
Operating expenses:
Research and
development (a) 6,628 8,081 7,575 28,780 27,814
Selling, general and
administrative (a) 3,825 3,904 4,912 17,555 20,747
Loss on settlement - - - 2,500 -
Impairment of assets 1,413 - - 1,413 -
Restructuring charges 518 - - 827 -
Total operating expenses 12,384 11,985 12,487 51,075 48,561
Operating income (loss) 2,043 (5,726) (6,674) (19,382) (13,389)
Interest income and other,
net 450 538 759 2,329 2,861
Income (loss) before
provision for income
taxes 2,493 (5,188) (5,915) (17,053) (10,528)
Provision for income taxes 97 49 75 548 221
Net income (loss) $2,396 $(5,237) $(5,990) $(17,601) $(10,749)
Basic net income (loss) per
share $0.06 $(0.13) $(0.15) $(0.43) $(0.27)
Diluted net income (loss)
per share $0.06 $(0.13) $(0.15) $(0.43) $(0.27)
Shares used to compute
basic net income (loss)
per share 41,633 41,458 40,818 41,369 40,574
Shares used to compute
diluted net income (loss)
per share 41,779 41,458 40,818 41,369 40,574
(a) Includes stock-based
compensation as follows:
Cost of revenues $(4) $10 $14 $25 $63
Research and development 101 196 277 763 1,214
Selling, general and
administrative 239 290 477 1,126 1,957
$336 $496 $768 $1,914 $3,234
CENTILLIUM COMMUNICATIONS, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
December 31, December 31,
2007 2006
(In thousands, except share
and per share data)
ASSETS
Current assets:
Cash and cash equivalents $32,596 $26,121
Short-term investments 4,209 29,278
Accounts receivable - net of
allowance for doubtful accounts of
$22 at December 31, 2007 and $80 at
December 31, 2006 3,757 6,266
Inventories 2,802 4,968
Other current assets 2,685 2,985
Net assets held for sale 706 -
Total current assets 46,755 69,618
Property and equipment, net 1,193 2,702
Other assets 678 578
Total assets $48,626 $72,898
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Short-term borrowings $1,500 $-
Accounts payable 4,765 6,505
Accrued compensation and related
expenses 3,869 3,249
Accrued liabilities and other 11,808 21,118
Total current liabilities 21,942 30,872
Other long-term liabilities 1,829 1,228
Stockholders' equity:
Common stock; $0.001 par value:
Authorized shares: 100,000,000;
Issued and outstanding shares:
41,718,601 at December 31, 2007,
41,147,312 at December 31, 2006 42 41
Additional paid-in capital 254,537 251,964
Accumulated deficit (229,727) (211,189)
Accumulated other comprehensive loss 3 (18)
Total stockholders' equity 24,855 40,798
Total liabilities and stockholders'
equity $48,626 $72,898
CENTILLIUM COMMUNICATIONS, INC.
Supplemental Reconciliation of GAAP Results to Non-GAAP
(Unaudited)
Three Months Ended Twelve Months Ended
December September December December December
31, 30, 31, 31, 31,
2007 2007 2006 2007 2006
(In thousands, except per share data)
GAAP gross margin 167.9% 62.4% 58.0% 80.9% 54.5%
Reversal of accrued
royalties -103.4% - - -22.7% -
Stock-based compensation -0.1% 0.1% 0.2% 0.1% 0.1%
Non-GAAP gross margin 64.4% 62.5% 58.2% 58.3% 54.6%
GAAP research and
development expenses $6,628 $8,081 $7,575 $28,780 $27,814
Stock-based compensation 101 196 277 763 1,214
Non-GAAP research and
development expenses $6,527 $7,885 $7,298 $28,017 $26,600
GAAP selling, general, and
administrative expenses $3,825 $3,904 $4,912 $17,555 $20,747
Stock-based compensation 239 290 477 1,126 1,957
Non-GAAP selling, general,
and administrative
expenses $3,586 $3,614 $4,435 $16,429 $18,790
GAAP operating expenses $12,384 $11,985 $12,487 $51,075 $48,561
Stock-based compensation 340 486 754 1,889 3,171
Loss on settlement - - - 2,500 -
Restructuring charges 518 - - 827 -
Impairment of assets 1,413 - - 1,413 -
Non-GAAP operating
expenses $10,113 $11,499 $11,733 $44,446 $45,390
GAAP net income (loss) $2,396 $(5,237) $(5,990) $(17,601) $(10,749)
Stock-based compensation 336 496 768 1,914 3,234
Loss on settlement - - - 2,500 -
Reversal of accrued
royalties (8,887) - - (8,887) -
Restructuring charges 518 - - 827 -
Impairment of assets 1,413 - - 1,413 -
Non-GAAP net income (loss) $(4,224) $(4,741) $(5,222) $(19,834) $(7,515)
GAAP basic and diluted net
income (loss) per share $0.06 $(0.13) $(0.15) $(0.43) $(0.27)
Loss on settlement - - - 0.06 -
Stock-based compensation 0.01 0.02 0.02 0.04 0.08
Impairment of assets 0.03 - - 0.04 -
Reversal of accrued
royalties (0.21) - - (0.21) -
Restructuring charges 0.01 - - 0.02 -
Non-GAAP basic and diluted
net loss per share $(0.10) $(0.11) $(0.13) $(0.48) $(0.19)
Centillium Communications, Inc.
CONTACT: Hassan Parsa, Vice President, Business Development of Centillium Communications, Inc., +1-510-771-3624, hparsa@centillium.com; or Christina L. Carrabino of CLC Communications, Inc., +1-415-929-9307, christina@clccommunication.com, for Centillium Communications, Inc.
Web site: http://www.centillium.com/
Synopsys Posts Financial Results for First Quarter Fiscal Year 2008
MOUNTAIN VIEW, Calif., Feb. 20 /PRNewswire-FirstCall/ -- Synopsys, Inc. , a world leader in software and IP for semiconductor design and manufacturing, today reported results for its first quarter ended January 31, 2008.
For the first quarter, Synopsys reported revenue of $315.5 million, a 5.1 percent increase compared to $300.2 million for the first quarter of fiscal 2007.
"We exit the first quarter with our year solidly on track in terms of revenue and earnings growth, operating margin expansion, an excellent balance sheet, and advanced technology," said Aart de Geus, chairman and CEO of Synopsys. "And with more than 90 percent of our revenue under time-based licenses, we adhered strongly to our predictable business model."
GAAP Results
On a generally accepted accounting principles (GAAP) basis, net income for the first quarter of fiscal 2008 was $46.4 million, or $0.31 per share, compared to $23.4 million, or $0.16 per share, for the first quarter of fiscal 2007.
Non-GAAP Results
On a non-GAAP basis, net income for the first quarter of fiscal 2008 was $66.0 million, or $0.44 per share, compared to non-GAAP net income of $44.0 million, or $0.30 per share, for the first quarter of fiscal 2007.
Non-GAAP net income consists of GAAP net income excluding employee share-based compensation expense calculated in accordance with FAS 123(R) and, to the extent incurred in a particular quarter or period, amortization of intangible assets, in-process research and development charges, integration and other acquisition-related expenses, facilities and workforce realignment charges, and other significant items which, in the opinion of management, are infrequent or non-recurring. See "GAAP Reconciliation" below.
Financial Targets
Synopsys also provided its operating model targets for the second quarter and full fiscal year 2008. These targets constitute forward-looking information and are based on current expectations. For a discussion of factors that could cause actual results to differ materially from these targets, see "Forward-Looking Statements" below.
Second Quarter of Fiscal Year 2008 Targets:
* Revenue: $317 million - $325 million
* GAAP expenses: $269 million - $283 million
* Non-GAAP expenses: $242 million - $252 million
* Other income and expense: $0 - $4 million
* Tax rate applied in non-GAAP net income calculations: 26 - 27 percent
* Fully diluted outstanding shares: 145 million - 150 million
* GAAP earnings per share: $0.22 - $0.26
* Non-GAAP earnings per share: $0.37 - $0.39
* Revenue from backlog: greater than 90 percent
Full Fiscal Year 2008 Targets:
* Revenue: $1.300 billion - $1.315 billion
* Tax rate applied in non-GAAP net income calculations: 26 - 27 percent
* Fully diluted outstanding shares: 145 million - 150 million
* GAAP earnings per share: $1.03 - $1.12
* Non-GAAP earnings per share: $1.56 - $1.61
* Cash flow from operations: greater than $325 million
GAAP Reconciliation
Synopsys' management evaluates and makes decisions about the Company's business operations primarily based on the bookings, revenue, and direct, ongoing and recurring costs of those operations. Management does not believe amortization of intangible assets, in-process research and development charges, integration and other acquisition-related expenses, facilities and workforce realignment charges and other significant infrequent items are ongoing and recurring operating costs of its core software, intellectual property and service business operations. In addition, while employee share-based compensation expense calculated in accordance with FAS 123(R) and change in the fair value of the Company's non-qualified deferred compensation plan obligations constitute ongoing and recurring expenses of the Company, such expenses are excluded from non-GAAP results because they are not expenses that require cash settlement by the Company and because such expenses are not used by management to assess the core performance of the Company's business operations. Therefore, management excludes such costs, to the extent incurred in a particular quarter, from the following historical and targeted GAAP financial measures included in this earnings release: total cost of revenue, gross margin, total operating expenses, operating income, income before provision (benefit) for income taxes, provision (benefit) for income taxes, net income and net income per share.
For each such measure, excluding these costs provides management with more consistent, comparable information about the Company's core performance. For example, since the Company does not acquire businesses on a predictable cycle, management would have difficulty evaluating the Company's performance as measured by gross margin, operating margin, income before taxes and net income on a period-to-period basis unless it excluded acquisition-related charges. Similarly, the Company does not undertake significant restructuring or realignments on a regular basis, and, as a result, excludes associated charges in order to enable better and more consistent evaluations of the Company's operating expenses before and after such actions are taken. Management also uses these measures to help it make budgeting decisions, for example, as between product development expenses (which affect cost of revenue and gross margin) and research and development, sales and marketing and general and administrative expenses (which affect operating expenses and operating margin). Finally, the availability of such information helps management track performance to both internal and externally communicated financial targets and to its competitors' operating results.
Management recognizes that the use of these non-GAAP measures has certain limitations, including the fact that management must exercise judgment in determining whether certain types of charges, such as those relating to workforce reductions executed in the ordinary course, should be excluded from non-GAAP results. However, management believes that, although it is important for investors to understand GAAP measures, providing investors with these non-GAAP measures gives them additional important information to enable them to assess, in a way management assesses, Synopsys' current and future continuing operations.
Reconciliation of First Quarter Results
The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP net income and earnings per share for periods indicated below:
GAAP to Non-GAAP Reconciliation of First Quarter Results
(unaudited, in thousands, except per share amounts)
Income Statement Reconciliation Three Months Ended
January 31,
2008 2007
GAAP net income $46,445 $23,357
Adjustments:
Amortization of intangible assets 11,624 13,353
Share-based compensation 15,644 16,215
Tax effect (7,697) (8,920)
Non-GAAP net income $66,016 $44,005
Three Months Ended
January 31,
2008 2007
GAAP earnings per share $0.31 $0.16
Adjustments:
Amortization of intangible assets 0.08 0.09
Share-based compensation 0.10 0.11
Tax effect (0.05) (0.06)
Non-GAAP earnings per share $0.44 $0.30
Shares used in calculation 150,683 148,113
Reconciliation of Target Operating Results
The following tables reconcile the specific items excluded from GAAP in the calculation of target non-GAAP operating results for the periods indicated below:
GAAP to non-GAAP Reconciliation of Second Quarter Fiscal Year 2008 Targets
(in thousands, except per share amounts)
Range for Three Months
Ending April 30, 2008
Low High
Target GAAP expenses $269,000 $283,000
Adjustment:
Estimated impact of amortization of
intangible assets (11,000) (13,000)
Estimated impact of share-based compensation (16,000) (18,000)
Target non-GAAP expenses $242,000 $252,000
Range for Three Months
Ending April 30, 2008
Low High
Target GAAP earnings per share $0.22 $0.26
Adjustment:
Estimated impact of amortization of intangible
assets 0.09 0.07
Estimated impact of share-based compensation 0.12 0.11
Net non-GAAP tax effect (0.06) (0.05)
Target non-GAAP earnings per share $0.37 $0.39
Shares used in non-GAAP calculation (midpoint
of target range) 147,500 147,500
GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2008 Targets
Range for Fiscal Year
Ending October 31, 2008
Low High
Target GAAP earnings per share $1.03 $1.12
Adjustment:
Estimated impact of amortization of intangible
assets 0.28 0.26
Estimated impact of share-based compensation 0.47 0.44
Net non-GAAP tax effect (0.22) (0.21)
Target non-GAAP earnings per share $1.56 $1.61
Shares used in non-GAAP calculation
(midpoint of target range) 147,500 147,500
Earnings Call Open to Investors
Synopsys will hold a conference call for financial analysts and investors today at 2:00 p.m., Pacific Time. A live webcast of the call will be available at Synopsys' corporate website at http://www.synopsys.com/corporate/invest/invest.html. A recording of the call will be available by calling +1-800-475-6701 (+1-320-365-3844 for international callers), access code 909867, beginning at 5:30 p.m. Pacific Time today. A webcast replay will also be available on the website from approximately 5:30 p.m. Pacific Time today through the time Synopsys announces its results for the second quarter fiscal 2008 in May 2008. In addition, Synopsys will post copies of the prepared remarks of Aart de Geus, chairman and chief executive officer, and Brian Beattie, chief financial officer, on its website following the call.
Effectiveness of Information
The targets included in this release, the statements made during the earnings conference call and the information contained in the financial supplement represent Synopsys' expectations and beliefs as of the date of this release only. Although this press release, copies of the prepared remarks of the chief executive officer and chief financial officer made during the call and the financial supplement will remain available on Synopsys' website through the date of the second quarter earnings call in May 2008, their continued availability through such date does not mean that Synopsys is reaffirming or confirming their continued validity. Synopsys does not currently intend to report on its progress during the second quarter of fiscal 2008 or comment to analysts or investors on, or otherwise update, the targets given in this earnings release.
Availability of Final Financial Statements
Synopsys will include final financial statements for the first quarter of fiscal 2008 in its quarterly report on Form 10-Q to be filed by March 13, 2008.
About Synopsys
Synopsys, Inc. is a world leader in electronic design automation (EDA) software for semiconductor design. The Company delivers technology-leading system and semiconductor design and verification platforms, IC manufacturing and yield optimization solutions, semiconductor intellectual property and design services to the global electronics market. These solutions enable the development and production of complex integrated circuits and electronic systems. Through its comprehensive solutions, Synopsys addresses the key challenges designers and manufacturers face today, including power management, accelerated time to yield and system-to-silicon verification. Synopsys is headquartered in Mountain View, California, and has more than 60 offices located throughout North America, Europe, Japan and Asia. Visit Synopsys online at http://www.synopsys.com/.
Forward-Looking Statements
The statements made in this press release regarding projected financial results in the sections entitled "Financial Targets," and "Reconciliation of Target Operating Results" and certain statements made in the earnings conference call are forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those described by these statements due to a number of uncertainties, including, but not limited to:
* weakness or continued budgetary caution in the semiconductor or
electronics industries;
* lower-than-expected research and development spending by semiconductor
and electronic systems companies;
* competition in the market for Synopsys' products and services;
* lower-than-anticipated new IC design starts;
* lower-than-anticipated purchases or delays in purchases of software or
consulting services by Synopsys' customers, including delays in the
renewal, or non-renewal, of Synopsys' license arrangements with major
customers;
* failure of customers to pay license fees as scheduled;
* changes in the mix of time-based licenses and upfront licenses;
* lower-than-expected bookings;
* failure of Synopsys' cost control efforts, including recent efforts to
outsource certain internal functions, to result in the anticipated
savings;
* failure to successfully develop additional intellectual property blocks
for its IP business; and
* difficulties in the integration of the products and operations of
acquired companies or assets into Synopsys' products and operations.
In addition, Synopsys' actual expenses and earnings per share on a GAAP and non-GAAP basis for the fiscal quarter ending April 30, 2008 and actual expenses, earnings per share and operating cash flow on a GAAP and non-GAAP basis for fiscal year 2008 could differ materially from the targets stated under "Financial Targets" above for a number of reasons, including, but not limited to, (i) a determination by Synopsys that any portion of its goodwill or intangible assets have become impaired, (ii) application of the actual consolidated GAAP and non-GAAP tax rates for such periods, or judgment by management, based upon the status of pending audits or new accounting interpretations such as FASB Interpretation No. 48, to increase or decrease an income tax asset or liability, (iii) integration and other acquisition-related expenses including amortization of additional intangible assets associated with future acquisitions, if any, (iv) changes in the anticipated amount of employee share-based compensation expense recognized on Synopsys' financial statements, (v) actual change in the fair value of Synopsys' non-qualified deferred compensation plan obligations, (vi) increases or decreases to estimated capital expenditures, (vii) changes driven by new accounting rules, regulations, interpretations or pronouncements, and (viii) other risks as detailed in our SEC filings, including those described in the "Risk Factors" section in our Annual Report on Form 10-K for the fiscal year ended October 31, 2007. Furthermore, Synopsys' actual tax rates applied to income for the second quarter and fiscal year 2008 could differ from the targets given in this press release as a result of a number of factors, including the actual geographic mix of revenue during the quarter. Finally, Synopsys' targets for outstanding shares in the second quarter and fiscal year 2008 could differ from the targets given in this press release as a result of higher than expected employee stock plan issuances or stock option exercises, acquisitions and the extent of Synopsys' stock repurchase activity.
Synopsys is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements made in this earnings release, the conference call or the financial supplement whether as a result of new information, future events or otherwise, unless otherwise required by law.
Synopsys is a registered trademark of Synopsys, Inc. Any other trademarks mentioned in this release are the property of their respective owners.
INVESTOR CONTACT:
Lisa L. Ewbank
Synopsys, Inc.
650-584-1901
EDITORIAL CONTACT:
Yvette Huygen
Synopsys, Inc.
650-584-4547
yvetteh@synopsys.com
SYNOPSYS, INC.
Unaudited Condensed Consolidated Statements of Operations (1)
(in thousands, except per share amounts)
Three Months Ended January 31,
2008 2007
Revenue:
Time-based license $267,860 $251,606
Upfront license 12,521 13,503
Maintenance and service 35,084 35,101
Total revenue 315,465 300,210
Cost of revenue:
License 40,398 35,520
Maintenance and service 15,879 16,146
Amortization of intangible assets 5,033 6,709
Total cost of revenue 61,310 58,375
Gross margin 254,155 241,835
Operating expenses:
Research and development 92,514 95,884
Sales and marketing 77,370 89,808
General and administrative 23,841 29,677
Amortization of intangible assets 6,591 6,644
Total operating expenses 200,316 222,013
Operating income 53,839 19,822
Other income, net 6,330 7,934
Income before income taxes 60,169 27,756
Provision for income taxes 13,724 4,399
Net income $46,445 $23,357
Net income per share:
Basic $0.32 $0.16
Diluted $0.31 $0.16
Shares used in computing per share amounts:
Basic 146,001 142,772
Diluted 150,683 148,113
(1) Synopsys' first quarter ends on February 2, 2008 and February 3,
2007, respectively. For presentation purposes, the Unaudited
Condensed Consolidated Statements of Operations refer to a calendar
month end.
SYNOPSYS, INC.
Unaudited Condensed Consolidated Balance Sheets (1)
(in thousands, except par value amounts)
January 31, 2008 October 31, 2007
ASSETS:
Current assets:
Cash and cash equivalents $428,055 $579,327
Short-term investments 432,260 405,126
Total cash, cash equivalents
and short-term investments 860,315 984,453
Accounts receivable, net 142,054 123,900
Deferred income taxes 126,262 123,165
Income taxes receivable 40,684 42,525
Prepaid expenses and other current
assets 52,187 53,496
Total current assets 1,221,502 1,327,539
Property and equipment, net 128,578 131,866
Goodwill 768,848 767,087
Intangible assets, net 67,173 78,792
Long-term deferred income taxes 181,404 216,642
Other assets 97,366 95,411
Total assets $2,464,871 $2,617,337
LIABILITIES AND STOCKHOLDERS' EQUITY:
Current liabilities:
Accounts payable and accrued
liabilities $165,054 $246,209
Accrued income taxes 16,569 207,572
Deferred revenue 528,932 577,295
Total current liabilities 710,555 1,031,076
Deferred compensation and other
liabilities 88,324 84,648
Accrued income taxes 146,373 -
Long-term deferred revenue 79,693 65,220
Total liabilities 1,024,945 1,180,944
Stockholders' equity:
Preferred stock, $0.01 par value:
2,000 shares authorized; none
outstanding - -
Common stock, $0.01 par value:
400,000 shares authorized;
143,663 and 146,365 shares
outstanding, respectively 1,437 1,464
Capital in excess of par value 1,423,949 1,401,965
Retained earnings 313,413 263,977
Treasury stock, at cost: 10,867 and
16,619 shares, respectively (302,435) (234,918)
Accumulated other comprehensive
income (loss) 3,562 3,905
Total stockholders' equity 1,439,926 1,436,393
Total liabilities and
stockholders' equity $2,464,871 $2,617,337
(1) Synopsys' first quarter ends on February 2, 2008. For presentation
purposes, the Unaudited Condensed Consolidated Balance Sheets refer to
a calendar month end.
SYNOPSYS, INC.
Unaudited Condensed Consolidated Statements of Cash Flows (1)
(in thousands)
Three Months Ended January 31,
2008 2007
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $46,445 $23,357
Adjustments to reconcile net income to net
cash (used in) provided by operating
activities:
Amortization and depreciation 25,333 27,179
Share-based compensation 15,644 16,215
Allowance for doubtful accounts - (130)
(Gain) loss on sale of investments 200 (3)
Deferred income taxes (1,858) 804
Net change in deferred gains and losses on
cash flow hedges 2,104 1,306
Net changes in operating assets and
liabilities, net of acquired assets and
liabilities:
Accounts receivable (17,077) (18,354)
Prepaid expenses and other current assets (1,185) (5,840)
Other assets (488) 217
Accounts payable and accrued liabilities (81,102) (66,075)
Accrued income taxes 2,754 (6,206)
Deferred revenue (42,969) 84,351
Deferred compensation and other
liabilities 1,018 (756)
Net cash (used in) provided by operating
activities (51,181) 56,065
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales and maturities of
short-term investments 150,523 65,129
Purchases of short-term investments (173,675) (126,161)
Purchases of long-term investments (1,500) -
Purchases of property and equipment (9,726) (11,510)
Capitalization of software development costs (704) (783)
Net cash used in investing activities (35,082) (73,325)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuances of common stock 12,097 81,583
Purchases of common stock (82,865) (18,070)
Net cash (used in) provided by financing
activities (70,768) 63,513
Effect of exchange rate changes on cash and
cash equivalents 5,759 144
Net change in cash and cash equivalents (151,272) 46,397
Cash and cash equivalents, beginning of period 579,327 330,759
Cash and cash equivalents, end of period $428,055 $377,156
(1) Synopsys' first quarter ends on February 2, 2008 and February 3, 2007,
respectively. For presentation purposes, the Unaudited Condensed
Consolidated Statements of Cash Flows refer to a calendar month end.
Synopsys, Inc.
CONTACT: Investors, Lisa L. Ewbank, +1-650-584-1901, or Media, Yvette Huygen, +1-650-584-4547, yvetteh@synopsys.com, both of Synopsys, Inc.
Web site: http://www.synopsys.com/
American Software, Inc. Invites You to Join Its Third Quarter Fiscal Year 2008 Conference Call on the Web
ATLANTA, Feb. 20 /PRNewswire-FirstCall/ -- In conjunction with American Software's Third Quarter Fiscal Year 2008 earnings release , you are invited to listen to its conference call that will be broadcast live over the Internet on Tuesday, March 4 at 5:00 pm ET.
What: American Software, Inc.'s Third Quarter Fiscal Year 2008 Earnings
Release
When: March 4, 2008 5:00 pm ET
Where: http://www.amsoftware.com/
How: Live over the Internet -- Simply log on to the web at the address
above
Contact: Pat McManus, pmcmanus@amsoftware.com
About American Software, Inc.
Headquartered in Atlanta, American Software develops, markets and supports one of the industry's most comprehensive offerings of integrated business applications, including supply chain management, Internet commerce, financial, warehouse management and manufacturing packages. e-Intelliprise(TM) is a total ERP/supply chain management suite, which leverages Internet connectivity and includes multiple manufacturing methodologies. American Software owns 88% of Logility, Inc. , a leading supplier of collaborative solutions to optimize the supply chain. New Generation Computing Inc. (NGC), a wholly-owned subsidiary of American Software, is a global software company that has 25 years of experience developing and marketing business applications for apparel manufacturers, brand managers, retailers and importers.
If you are unable to participate during the live webcast, the call will be archived on the Web site http://www.amsoftware.com/. To access the replay, click on Investor Relations.
American Software, Inc.
CONTACT: Pat McManus, IR Coordinator of American Software, Inc., +1-404-364-7615, Fax: +1-404-264-5298, pmcmanus@amsoftware.com
Web site: http://www.amsoftware.com/
SXC Health Solutions to Host Fiscal 2007 Fourth Quarter and Year End Financial Results Conference Call
LISLE, IL, Feb. 20 /PRNewswire-FirstCall/ -- SXC Health Solutions Inc. announces that it will host a conference call on Thursday, March 6, 2008 at 8:30 a.m. ET to discuss the Company's fiscal 2007 fourth quarter and year end financial results. A press release announcing the quarterly results will be issued at 7:00 a.m. ET that same day.
All interested parties can join the call by dialing 416-644-3420 or 1-800-731-5319. Please dial in 15 minutes prior to the call to secure a line. The conference call will be archived for replay until Thursday, March 13, 2008 at midnight. To access the archived conference call, please dial 416-640-1917 or 1-877-289-8525 and enter the reservation code 21263941 followed by the number sign.
A live audio webcast of the conference call will be available http://www.sxc.com/ and http://www.newswire.ca/. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. An archived replay of the webcast will be available for 365 days.
About SXC Health Solutions
SXC Health Solutions, Inc. (SXC) is a leading provider of pharmacy benefits management (PBM) services and healthcare IT solutions to the healthcare benefits management industry. The Company's product offerings and solutions combine a wide range of software applications, application service provider (ASP) processing services and professional services, designed for many of the largest organizations in the pharmaceutical supply chain, such as Federal, provincial, and, state and local governments, pharmacy benefit managers, managed care organizations, retail pharmacy chains and other healthcare intermediaries. SXC is based in Lisle, Illinois with locations in; Scottsdale, Arizona; Warminster, Pennsylvania; Alpharetta, Georgia; Milton, Ontario and Victoria, British Columbia. For more information please visit http://www.sxc.com/.
SXC Health Solutions, Inc.
CONTACT: Jeff Park, Chief Financial Officer, SXC Health Solutions, Inc., Tel: (630) 577-3206, investors@sxc.com; Dave Mason, Investor Relations - Canada, The Equicom Group Inc., (416) 815-0700 ext. 237, dmason@equicomgroup.com; Susan Noonan, Investor Relations - U.S., The SAN Group, LLC, (212) 966-3650, susan@sanoonan.com
GSI Schedules Fourth Quarter Earnings Call
BILLERICA, Mass., Feb. 20 /PRNewswire-FirstCall/ -- GSI Group Inc., will be releasing its fourth quarter earnings on Wednesday, February 27 after the market closes. The Company will be holding a conference call on Thursday, February 28th at 8:30 a.m. eastern daylight time.
Participants are invited to join by dialing (706) 634-5123 with an access code: 34195350. The replay will be available for two weeks by dialing (706) 645-9291 with the replay passcode: 34195350. The conference call also will be broadcast live over the Internet at http://www.gsig.com/.
GSI Group Inc. supplies precision technology and semiconductor systems to the global medical, semiconductor, electronics, and industrial markets. GSI Group Inc.'s common shares are listed on Nasdaq (GSIG). The Company's web site address is http://www.gsig.com/.
For more information:
Raymond Ruddy
GSI Group Inc.
+1-978-439-5511 Ext. 6170
GSI Group Inc.
CONTACT: Raymond Ruddy of GSI Group Inc., +1-978-439-5511, ext. 6170
Web site: http://www.gsig.com/
Company News On-Call: http://www.prnewswire.com/comp/107189.html
Microsoft Provides Thrilling First Look at Xbox 360 Blockbuster Portfolio for 2008, Announces 'Gears of War 2' Ships This NovemberThe world's hottest developers pave the way for a banner year with a blockbuster lineup that includes 'Gears of War 2,' 'Fable 2,' 'Ninja Gaiden II' and a rich mix of indie Xbox LIVE Arcade titles.
SAN FRANCISCO, Feb. 20 /PRNewswire-FirstCall/ -- Today at the Game Developers Conference (GDC) 2008, Microsoft Corp. provided an exciting glimpse at what promises to be another landmark year for games and online entertainment on the Xbox 360 platform and officially announced the launch of "Gears of War 2," exclusively for Xbox 360 this November.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)
Providing a dramatic close to Microsoft's GDC keynote address, Epic Games Inc.'s lead designer Cliff Bleszinski announced that the epic saga of Marcus Fenix and Delta Squad continues exclusively on the Xbox 360 this fall with "Gears of War 2." This highly anticipated sequel to the 4.5 million-selling blockbuster "Gears of War" delves deeper into humanity's struggle for survival against the nightmarish Locust Horde, and promises to take high-definition visuals to a whole new level.
In addition, acclaimed developer Peter Molyneux of Lionhead Studios took the stage to showcase exciting new multiplayer features for "Fable 2," introducing dynamic cooperative play, a first to the franchise. Molyneux also announced that later this year, and before the launch of "Fable 2," gamers can get a sneak peek at the game's world when the "Fable 2" pub games debut as a stand-alone download on Xbox LIVE Arcade. When "Fable 2" launches, gamers will have the ability to transfer currency earned in the pub games directly to their character in "Fable 2." This unique and first-of-its-kind experience, which can be found only on Xbox LIVE Arcade, will give the millions of "Fable" fans and gamers all around the globe the opportunity to jump into the "Fable 2" world with money already in the bank.
Tomonobu Itagaki also revealed new "Ninja Gaiden II" game-sharing features, including Ninja Cinema, which is enabled solely through Xbox LIVE, providing exciting and innovative entertainment experiences for the more than 10 million Xbox LIVE members worldwide by allowing players to record and upload their best ninja moves to Xbox LIVE.
"To our team the original game was just a tease, the appetizer to the 'Gears of War' characters and new style of gameplay. We were so amped to get to the next chapter, and dig deeper into the universe of this franchise," said Cliff Bleszinski, lead designer for Epic Games. "'Gears of War 2' is an even bigger, better, and more badass experience than the first game, and we can't wait to get it in the hands of eager gamers this November."
This year, the most anticipated games will be found exclusively on Xbox 360, including the next chapters of top franchises such as "Gears of War," "Fable" and "Ninja Gaiden," as well as new titles such as "Too Human."
-- "Gears of War 2" (Epic Games). "Gears of War 2" is the sequel to the
4.5 million-selling blockbuster that redefined the third-person
tactical action game genre. "Gears of War 2" continues the story of
Marcus Fenix and Delta Squad in an epic saga of survival, loss and
retribution. Developed by Epic Games exclusively for Xbox 360, "Gears
of War 2" launches this November.
-- "Fable 2" (Lionhead Studios). In addition to the dynamic co-op mode
unveiled onstage, Peter Molyneux also announced that Carbonated Games
is bringing the "Fable 2" experience to Xbox LIVE Arcade. Before the
game's launch, gamers will be able to get an early taste of the "Fable
2" experience and gain a head start on earning currency for use in
"Fable 2" by playing "Fable 2" -- themed pub games that will be
downloadable via Xbox LIVE Arcade. The currency earned in these Xbox
LIVE Arcade titles will enable players to purchase items in "Fable 2"
when the game launches later this year.
-- "Ninja Gaiden II" (TECMO/Team NINJA). Tomonobu Itagaki debuted several
tantalizing new Xbox LIVE features of "Ninja Gaiden II," including the
ability to capture and share videos of a player's glorious battles via
the Ninja Cinema feature and upload them to Xbox LIVE. "Ninja Gaiden
II" launches worldwide this June.
-- "Too Human" (Silicon Knights). Microsoft also showcased the epic
action game from renowned Canadian developer Silicon Knights, "Too
Human," at a media event before today's keynote address. In "Too
Human," players are treated to a nonstop barrage of action powered by
the seamless integration of melee and firearms combat, plus deep
role-playing elements fueled by breathtaking visuals enabled by the
power of Xbox 360.
With online multiplayer gameplay, downloadable content and ways to stay in contact with a global community, these forthcoming blockbusters harness the power of Xbox LIVE to create truly innovative and exciting entertainment experiences. Each game also comes packed with Achievements, so Xbox LIVE members can help add to the more than 1 billion Achievements already unlocked on the service to date. And, as with the "Fable 2" pub games, downloadable content in Xbox LIVE Marketplace allows gamers the opportunity to customize and enhance their gameplay experiences. Since the service launched, Microsoft has seen more than $250 million in digital revenue from Xbox LIVE Marketplace through the purchase of more than 20 billion Microsoft Points.
Xbox LIVE members have been using a large portion of those Microsoft Points in Xbox LIVE Arcade, which is the premier destination for digitally distributed, high-definition original and classic games. With over 116 games to choose from on Xbox LIVE Arcade, everyone's invited to get instantly immersed in the fun. Xbox LIVE Arcade is also home to the world's most innovative independent developers, with more than 25 independent studios serving as the creative fuel behind the original games that represent more than a quarter of the Xbox LIVE Arcade library. The following titles represent a sample of games launching on Xbox LIVE Arcade in the near future from the world's leading independent developers:
-- "Braid" (Number None Inc.). Developed by Independent Games Festival
Winner and experimental game designer Jonathan Blow, "Braid" is a
platform experience that bends all the rules with the manipulation of
time. "Braid" will launch this spring.
-- "Castle Crashers" (The Behemoth). "Castle Crashers" is the second
title currently in development by award-winning independent developer
The Behemoth, creator of "Alien Hominid HD." The role-playing game
(RPG) adventure will let up to four players hack, slash and smash
their way together through a visually stunning hand-drawn landscape.
"Castle Crashes" launches this summer.
-- "Defense Grid: The Awakening" (Hidden Path Entertainment LLC).
"Defense Grid: The Awakening" is the definitive tower defense game
experience designed specifically for Xbox LIVE Arcade and launches
this summer.
-- "Go! Go! Break Steady" (Little Boy Games). An Xbox LIVE Arcade
exclusive, "Go! Go! Break Steady" is the debut title from independent
developer Little Boy Games. The combination music and puzzle game
combines break dancing with novel gameplay and launches this summer.
-- "Penny Arcade Adventures: On the Rain-Slick Precipice of Darkness"
(Hothead Games). The first video game collaboration between Penny
Arcade creators Mike "Gabe" Krahulik and Jerry "Tycho" Holkins and
legendary game designer Ron Gilbert, "Penny Arcade Adventures" is an
RPG-adventure game set in a highly stylized 1920s universe filled with
bizarre characters, outrageous combat and adult humor. The first
episode of the game launches this summer.
About Xbox 360
Xbox 360 is a superior video game and entertainment system delivering the best games, unique entertainment features and a unified online gaming network that revolve around gamers. Xbox 360 has a portfolio of more than 300 games in nearly 40 countries. More information can be found online at http://www.xbox.com/xbox360.
About Microsoft Game Studios
Microsoft Game Studios is a leading worldwide publisher and developer of games for the Xbox and Xbox 360 video game systems, the Windows operating system and online platforms. Comprising a network of top developers, Microsoft Game Studios is committed to creating innovative and diverse games for Windows (http://www.microsoft.com/games), including such franchises as "Age of Empires," "Flight Simulator" and "Zoo Tycoon"; Xbox and Xbox 360 (http://www.xbox.com/), including such games as "Gears of War" and franchises such as "Halo," "Fable," "Project Gotham Racing" and "Forza Motorsport"; and MSN Games (http://www.games.msn.com/), the official games channel for the MSN network and home to such hits as "Bejeweled" and "Hexic."
About Xbox LIVE
Xbox LIVE is the first and most comprehensive unified online entertainment network seamlessly integrated throughout the entire console experience, making it easy for people to find the friends, games and entertainment they want from the moment they power on their Xbox 360 system. Xbox LIVE connects millions of members across 26 countries to enjoy hundreds of multiplayer games, downloadable games via Xbox LIVE Arcade, free and premium playable game demos, music videos, TV shows and movies in the United States as well as new game levels, characters and vehicles for all their favorite retail games. More information can be found online at http://www.xbox.com/en-us/live.
About Xbox LIVE Arcade
Xbox LIVE Arcade on Xbox 360 is the premier destination for digitally distributed high-definition games. Xbox LIVE Arcade is a fast-growing phenomenon with a diverse library of original development and classic titles from the world's best independent and established developers and publishers. With a dynamically updated library and free trials for every title, Xbox LIVE Arcade makes it easy for every type of gamer - from casual to hard-core - to get instantly immersed in the fun. Xbox LIVE Arcade also lets friends connect and play these incredible games either from the same room or from around the world via the Xbox LIVE online entertainment network. More information can be found online at http://www.xbox.com/en-US/games/livearcade.
About Microsoft
Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
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Microsoft Corp.
CONTACT: Mark Van Lommel, +1-206-268-2229, mark.van.lommel@edelman.com, or Chrystina Woody, +1-323-202-1070, chrystina.woody@edelman.com, both of Edelman, for Microsoft Corp.
Web site: http://www.microsoft.com/
Xbox 360 Becomes First Video Game Console Ever to Invite the World to Create Original Games and Share Online With MillionsFlood of community-created games to double leading games library.
SAN FRANCISCO, Feb. 20 /PRNewswire-FirstCall/ -- In a landmark announcement during the keynote address at the annual Game Developers Conference (GDC), Microsoft Corp. promised to soon allow Xbox LIVE members to play, rate and share community-created games. As the first in the industry to pioneer high-speed online gaming and high-definition games, Xbox 360 once again broke new ground by introducing a new, open distribution service for games created by the community and soon playable by its 10 million Xbox LIVE members. Community-created games on Xbox LIVE will quickly double the size of the Xbox 360 game library. By the end of 2008, Xbox 360 owners will have access to more than 1,000 games, making it the largest, most creatively diverse library across all next-generation platforms.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)
"The time has come for the games industry to open its doors to all game creators, enabling anyone to share their creations with the world," said John Schappert, corporate vice president of LIVE, Software and Services for the Interactive Entertainment Business at Microsoft. "Our goal is to drive a creative and social revolution in games with the same transformative power that we've seen in digital music and video sharing."
Inviting Everyone to Share Their Own Games With Millions
Demonstrating a look into the future potential of community-created games on Xbox 360, Chris Satchell, general manager and chief XNA architect at Microsoft, announced that seven games created using XNA Game Studio 2.0 would be available immediately for Xbox 360 owners to download from Xbox LIVE Marketplace:
-- "JellyCar." Created by Walaber from the United States, this game is
about driving a squishy car through squishy worlds, trying to reach the
exit.
-- "Little Gamers." This is a 2-D high definition action side-scroller
based on the famous Web comic "Little Gamers" created by Loic Dansart,
a 24-year-old software developer from Belgium.
-- "The Dishwasher: Dead Samurai." An intense 2-D action platform game
created by James Silva from the United States, "The Dishwasher: Dead
Samurai" has a unique, highly stylized look and fast and fluid action.
-- "TriLinea." This puzzle game created by Edison S. Prata Jr., Renato
Pelizzari da Silva and Davi da Silva Prata from Brazil mixes fast-paced
action with strategy.
-- "RocketBall." Created by Tyler Wanlass, Patrick Murty and Todd Barrons
of the United States, this neighborhood game of dodgeball explodes onto
the street with fast-paced multiplayer action.
-- "ProximityHD." This game, created by Brian Cable from the United
States, takes the essence of strategy games -- battles for control of
territory and armies -- and distills it down to a simple,
easy-to-understand set of rules for casual players.
-- "Culture." Created by independent game development company Hidden Path
Entertainment from the United States, "Culture" contains challenging
games and puzzles based on beautiful flowers.
An Xbox 360 community game created using Microsoft's XNA Game Studio software and XNA Creators Club membership will be able to be submitted for distribution on Xbox LIVE. Each community-created game must then undergo a thorough peer-review process and be evaluated for accuracy in representation and appropriateness. Community game developers will be able to beta test the process this spring and will be able to distribute their games on Xbox LIVE by the end of this year.
About Xbox 360
Xbox 360 is a superior video game and entertainment system delivering the best games, unique entertainment features and a unified online gaming network that revolve around gamers. Xbox 360 has a portfolio of more than 300 games in nearly 40 countries. 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.
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Microsoft Corp.
CONTACT: Jeremy Bartram, +1-206-268-2234, jeremy.bartram@edelman.com, or Jessica Lange, +1-323-202-1419, jessica.lange@edelman.com, both of Edelman, for Microsoft Corp.
Web site: http://www.microsoft.com/ http://www.xbox.com/xbox360
Level 3 President and COO Kevin O'Hara to Speak at the Merrill Lynch Communications Services Forum
BROOMFIELD, Colo., Feb. 20 /PRNewswire-FirstCall/ -- Kevin O'Hara, president and chief operating officer of Level 3 Communications, Inc. will make three investor presentations at the Merrill Lynch Communications Services Forum in New York City on Tuesday, February 26.
Mr. O'Hara's presentations are scheduled to begin at approximately 10:00 a.m., 11:00 a.m. and 1:45 p.m. EST. A webcast of each presentation will be available at http://www.veracast.com/webcasts/ml/communications08/18103586.cfm.
About Level 3 Communications
Level 3 Communications, Inc. , an international communications company, operates one of the largest Internet backbones in the world, connecting more than 180 markets in 20 countries. The company serves a broad range of wholesale, enterprise and content customers with a comprehensive suite of services including: Internet Protocol (IP) services, broadband transport and infrastructure services, colocation services, voice and voice over IP services, and content delivery and media distribution services. These services provide the building blocks to enable Level 3's customers to meet their growing demands for advanced communications solutions. The company's Web address is http://www.level3.com/.
Level 3 Communications, Level 3, the red 3D brackets and the Level 3 Communications logo are registered service marks of Level 3 Communications, LLC and/or its affiliates in the United States and/or other countries. Level 3 services are provided by wholly owned subsidiaries of Level 3 Communications, Inc. Any other service, product or company names recited herein are trademarks or service marks of their respective owners.
Forward-Looking Statement
Some of the statements made in this press release are forward looking in nature. These statements are based on management's current expectations or beliefs. These forward looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside Level 3's control, which could cause actual events to differ materially from those expressed or implied by the statements. The most important factors that could prevent Level 3 from achieving its stated goals include, but are not limited to the company's ability to: successfully integrate acquisitions; increase the volume of traffic on the network; defend intellectual property and proprietary rights; develop new products and services that meet customer demands and generate acceptable margins; successfully complete commercial testing of new technology and information systems to support new products and services; attract and retain qualified management and other personnel; and meet all of the terms and conditions of debt obligations. Additional information concerning these and other important factors can be found within Level 3's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors. Level 3 is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
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Level 3 Communications, Inc.
CONTACT: Media, Chris Hardman, +1-720-888-2292, or Kimberly Tulp, +1-720-888-3675, or Investors, Valerie Finberg, +1-720-888-2501, or Mark Stoutenberg, +1-720-888-1662, all of Level 3 Communications, Inc.
Web site: http://www.level3.com/
CGI to Present at the TD Newcrest Tech-Media-Telecom Conference February 21 in TorontoStock Market Symbols GIB.A (TSX) GIB (NYSE)
MONTREAL, Feb. 20 /PRNewswire-FirstCall/ -- Michael E. Roach, President and CEO of CGI Group Inc. (TSX: GIB.A; NYSE: GIB) will present to investors in Toronto at the TD Newcrest Tech-Media-Telecom Conference at Le Royal Meridien King Edward Hotel, 37 King Street East - Sovereign Ballroom, Thursday, February 21, 2008.
The presentation is scheduled for 2:15 p.m. (EST) and will be available via live audio webcast on CGI's website at http://www.cgi.com/web/en/investors.htm. A replay of the webcast will be archived on CGI's website in the Investors section under Speeches and Webcasts.
About CGI
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 26,500 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $3.7 billion and at December 31st, 2007, CGI's order backlog was $12.04 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: http://www.cgi.com/.
CGI GROUP INC.
CONTACT: Lorne Gorber, Vice-President, Global Communications and Investor Relations, (514) 841-3355
Beliefnet Joins With RealGames to Provide Casual Games That Stimulate the Mind, Challenge the Spirit and Soothe the Soul- More than 500 Games Suitable for Family Fun Now Live on World's Leading Spiritual Web Site -
SAN FRANCISCO, Feb. 20 /PRNewswire-FirstCall/ -- From the Game Developers Conference, RealGames(TM), the casual games business unit for digital entertainment services company RealNetworks(R), Inc. , and Beliefnet.com, the leading online community for spirituality and inspiration, today announced a content partnership that will provide more than 500 downloadable and Web based casual games and puzzles via Beliefnet's Entertainment channel. An array of safe, family-friendly games including Noah's Arc, Da Vinci Code, Bable, GameHouse Sudoku and Scrabble Blast are available for free download and play at http://www.beliefnet.com/.
Recent studies have shown that not only do many Americans prefer online games to TV or movies, but casual gaming can support mental fitness and reduce stress as well. Whether it's taking a few minutes out of a busy day to relax with Sudoku, improving vocabulary and critical thinking skills with a word game -- or just having fun -- casual games have become a spirited part of today's family life.
"Beliefnet serves a truly diverse online community," said Elizabeth Sams, Executive Editor for Beliefnet.com. "Our staff has worked closely with casual game experts from RealGames to select games that are appropriate for the wide variety of interests, ages and digital abilities reflected in our readership. We're thrilled to add these stimulating, high-quality games and puzzles to the roster of quizzes, polls, and memory games our users already enjoy -- let the gaming begin!"
As the world's largest developer, publisher and distributor of casual games, RealGames currently reaches more than 40 million unique visitors monthly via its own direct-to-consumer sites and distribution partners, which now include Beliefnet.com.
"RealGames offers casual games that provide a fun and engaging way for all kinds of people to exercise their brains and soothe their spirits," said Harold Zeitz, senior vice president of RealGames. "Members of the Beliefnet community can now find a new common interest regardless of their specific spiritual beliefs, uniting around their love for challenging and entertaining casual games."
RealGames' popular offerings complement Beliefnet's award-winning assortment of articles, polls, quizzes and community discussion platforms created to help people explore their spiritual paths. In addition, Beliefnet also offers its own "memory game" in which users discover pairs of religious symbols by clicking one and then finding and clicking its twin. One by one, the cards vanish and users enjoy the photo equivalent of a relaxing breath.
ABOUT BELIEFNET
Beliefnet.com, winner of the 2007 National Magazine Award for General Excellence Online, is the largest online community for spirituality and inspiration. Its mission is to help people find and walk a spiritual path that instills comfort, hope, clarity, strength and happiness for those who are exploring their own faith or curious about other spiritual traditions. Beliefnet offers a wide variety of resources including social networking tools, articles, quizzes, devotionals, sacred text searches, photo galleries and intimate interviews with noted politicians, celebrities and spiritual leaders. The site has approximately three million unique visitors each month and a daily email newsletter readership of nearly 11 million subscribers. The company, which is a subsidiary of Fox Digital Media and Fox Entertainment Group, is not affiliated with any spiritual organization or movement, and has partnerships with TIME magazine, Yahoo!, and Chicken Soup for the Soul.
ABOUT REALNETWORKS
RealNetworks, Inc. delivers digital entertainment services to consumers via PC, portable music player, home entertainment system or mobile phone. Real created the streaming media category in 1995 and has continued to lead the market with pioneering products and services, including: RealPlayer(R), the first mainstream media player to enable one-click downloading and recording of Internet video; the award-winning Rhapsody(R) digital music service, which delivers more than 1 billion songs per year; RealArcade(R), one of the largest casual games destinations on the Web; and a variety of mobile entertainment services, such as ringback tones, offered to consumers through leading wireless carriers around the world. RealNetworks' corporate information is located at http://www.realnetworks.com/company.
RealGames, RealNetworks, GameHouse and RealArcade are trademarks or registered trademarks of RealNetworks, Inc. All rights reserved.
RealNetworks, Inc.
CONTACT: Ryan Luckin of RealNetworks, +1-206-892-6330, rluckin@real.com; or Audrey Craipain of SHIFT Communications, +1-415-591-8427, acraipain@shiftcomm.com, for RealNetworks, Inc.
Web site: http://www.realnetworks.com/ http://www.beliefnet.com/
Pratt & Whitney Awarded $521.2 Million Contract for F119 Engine Support
EAST HARTFORD, Conn., Feb. 20 /PRNewswire/ -- Pratt & Whitney was awarded a $521.2 million contract from the U.S. Air Force to maintain F119 engines for the F-22 Raptor. This support program for the Raptor engine (SPaRE) involves activation of Holloman Air Force Base (AFB) in Alamogordo, New Mexico, and sustainment for fielded engines in 2008, with an option to support activation of Hickam AFB in Honolulu, Hawaii, and sustainment services in 2009. Sustainment activities include spare parts and labor support, fleet management and technical support of the F119 engine. Pratt & Whitney is a United Technologies Corp. company.
"Pratt & Whitney's F119 team is focused on meeting its customers' expectations in the areas of engine availability, reliability and maintainability while keeping its customers' fleets at a high level of readiness," said Chris Flynn, director, F119 program for Pratt & Whitney.
As the only fifth generation fighter engine in production, the F119 features a unique thrust-vectoring nozzle allowing unprecedented speed, agility and precision. Two F119 engines enable the F-22 to supercruise, or achieve supersonic speeds without the use of the afterburner. Pratt & Whitney's F119 propulsion system is the exclusive power for the F-22 Raptor and has exceeded 60,000 operational flight hours.
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and building industries.
This press release contains forward-looking statements concerning future business opportunities. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in the USAF's funding related to the F-22 aircraft and F119 engines, changes in government procurement priorities and practices or in the number of aircraft to be built; challenges in the design, development, production and support of technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in United Technologies Corporation's Securities and Exchange Commission filings.
Stephanie Duvall Jennifer Whitlow
Pratt & Whitney Military Engines Pratt & Whitney
860.557.1382 860.565.9600
stephanie.duvall@pw.utc.com jennifer.whitlow@pw.utc.com
Pratt & Whitney
CONTACT: Stephanie Duvall of Pratt & Whitney Military Engines, +1-860-557-1382, stephanie.duvall@pw.utc.com; or Jennifer Whitlow of Pratt & Whitney, +1-860-565-9600, jennifer.whitlow@pw.utc.com
Web site: http://www.pratt-whitney.com/
DuPont Launches Online MarketPoint(SM) Resource for Agriculture IndustryWeb-based Service Links Growers with End Users to Market Quality Grain
DES MOINES, Iowa, Feb. 20 /PRNewswire-FirstCall/ -- DuPont business Pioneer Hi-Bred today introduced MarketPoint(SM) resource, a new online market service that links corn growers with end users to provide producers with enhanced profit opportunities, greater product differentiation and more convenience. It offers end users, such as ethanol plants and livestock feeders, the opportunity to source better quality grain.
"Pioneer MarketPoint(SM) resource is a powerful tool that brings together producers of high-quality grain with those who need it to make their business run more effectively," said Paul Schickler, Pioneer president and DuPont vice president and general manager. "There has never been a tool like this that brings these two groups together so easily."
Available on the Pioneer GrowingPoint(R) website, the MarketPoint(SM) resource allows growers to post their high-quality grain for sale to local buyers who make competitive bids based upon quality and quantity information posted to the site. In turn, end users will be able to source this higher value grain to help maximize efficiency, whether it is in their ethanol plants or feedlot operations.
A pilot program has been initiated for growers and ethanol plants in select areas of Nebraska. Pending the success of this program, Pioneer will expand the MarketPoint(SM) resource to other areas.
"The industry has learned that grain from select Pioneer(R) brand hybrids has quality traits for the end user, whether it is higher ethanol yields from high total fermentable (HTF) products or highly available energy (HAE) grain for the monogastric livestock industry," Schickler said. "The challenge for end users has been to selectively source this grain. Until now, they've had to rely on sourcing commodity corn. Now, through the MarketPoint(SM) resource, these buyers can purchase a higher grade of corn directly from the producer."
The advantage for growers is that they can post bushels to multiple buyers and receive incoming active private bids for their corn from buyers. Producers will be able to do this while telling buyers as much as they can about the high quality of the grain.
Growers can also differentiate their product offering on the MarketPoint(SM) resource by citing the grain's characteristics. Producers can differentiate themselves and increase their profit opportunity by earning the Pioneer "Grain Quality Certification," the result of a special training program showing these growers apply the best practices in grain management to preserve quality.
The MarketPoint(SM) resource offers convenience to participating growers by allowing them access to reports that summarize their grain sales for the year. Growers in the program will also receive cell phone text-message alerts on commodity prices, daily basis range and bid acceptance.
"The MarketPoint(SM) resource is built on the principle of growers differentiating their product of quality corn and putting it in front of as many buyers as possible," Schickler said. "Buyers compete to determine the ultimate price growers receive.
"This idea was generated by talking to our customers about this marketplace," he said. "Farmers told us they would like to keep their autonomy, produce quality grain for the marketplace and earn higher prices for corn in this competitive market. End users want to source large quantities of quality corn. This meets the needs of both parties and improves pricing transparency between both."
Pioneer is partnering with Farms Technology, L.L.C., of Overland Park, Kan., in delivering the user-friendly electronic platform to execute the transactions. Farms Technology has been the leader in providing useful electronic tools for the commodity supply chain since 2001.
"Today's commodity prices are ever changing and highly localized," said Jason Tatge, CEO of Farms Technology. "This tool gives farmers the ability to put their products up for sale either on the farm or to local delivered markets and creates more competition among buyers who may need that product."
The MarketPoint(SM) resource will allow growers to trade grain from corn hybrid products other than Pioneer. However, the website will post quality characteristics based on genetics, such as ethanol yield potential and digestible energy, only on Pioneer products.
Growers can create an account on the Pioneer GrowingPoint(R) website to participate in the MarketPoint(SM) resource. They do not need to be a Pioneer customer.
Pioneer Hi-Bred, a DuPont business, is the world's leading source of customized solutions for farmers, livestock producers and grain and oilseed processors. With headquarters in Des Moines, Iowa, Pioneer provides access to advanced plant genetics in nearly 70 countries.
DuPont is a science company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
The DuPont Oval Logo, DuPont(TM), The miracles of science(TM), and MarketPoint(SM), GrowingPoint(R) and Pioneer(R) are registered trademarks, trademarks or service marks of DuPont or its affiliates.
For additional information about our company or our products, check our worldwide website: http://www.dupont.com/ and http://www.pioneer.com/.
DuPont
CONTACT: Pat Arthur of DuPont, +1-800-247-6803, ext. 6515, pat.arthur@bio1.dupont.com
Web site: http://www.dupont.com/ http://www.pioneer.com/
Nickelodeon's Fairly OddParents' Feb. 18th Special Ranks as TV's Top-Rated Kids' Program for Year to DateHour-Long Fairly OddBaby Special Draws 5.3 Million Kids 2-11 and 8.8 Million Total Viewers
NEW YORK, Feb. 20 /PRNewswire/ -- Nickelodeon's Fairly OddParents' President's Day special, Fairly OddBaby, hit a magical ratings high as the year-to-date's number-one entertainment program on all broadcast and basic cable television in all kids' demos (K2-11; K6-11; Tweens 9-14). As well as ranking second only to Super Bowl programming among overall TV shows this year with kids and tweens, the hour-long animated special (Monday, Feb. 18, 8-9 p.m., ET/PT) scored a whopping 15.4/5.3 million K2-11, up double digits (+96%) over last year's like time period. Standing as the biggest audience ever for a Fairly OddParents episode, it averaged 8.8 million total viewers (+109%), a 19.7/4.2 million among kids 6-11 (+133%); and a 14.9/3.2 million with tweens 9-14 (+165%).
The Fairly OddBaby special was supported online with a Fairly OddParents show page that received more than one million visits since going live on Feb. 7. In addition, a Fairly OddBaby online casual New Game of the Week, which launched on Nick.com on Feb. 14, generated 904,000 game plays within its first four days on the site. A special Fairly OddBaby video generated 1.6 million streams on TurboNick and the Fairly OddParents' message board received 40,000 visitors in just one week's time. (Source: Omniture SiteCatalyst )
In Fairly OddBaby Cosmo and Wanda are expecting a baby! Since a fairy baby hasn't been born in thousands of years, it's up to Timmy, Cosmo, Wanda, Jorgen and some powerful burritos to make sure the first fairy baby born in the past millennia is safe and sound at home with its new family.
From creator Butch Hartman, The Fairly OddParents follows husband-and-wife sprites Cosmo and Wanda as they wreak mayhem and help Timmy conquer typical kid obstacles by granting him wishes. In so doing, they magically fix problems ranging from a tough homework assignment to a bothersome babysitter. Despite the wizardry, though, these overly eager oddballs manage to mess things up every time.
Nickelodeon, in its 28th year, is the number-one entertainment brand for kids. It has built a diverse, global business by putting kids first in everything it does. The company includes television programming and production in the United States and around the world, plus consumer products, online, recreation, books, magazines and feature films. Nickelodeon's U.S. television network is seen in more than 96 million households and has been the number- one-rated basic cable network for 13 consecutive years. Nickelodeon and all related titles, characters and logos are trademarks of Viacom Inc. .
Nickelodeon
CONTACT: Thamar Romero, +1-212-846-7491, or Nicole Parker, +1-818-736-3613, both for Nickelodeon
Web site: http://www.nick.com/
Malaysia Genome Institute Advances Bioinformatics Research Using SGI TechnologySGI Altix, Altix XE Cluster and SGI InfiniteStorage Combination Delivers Cohesive NAS/SAN Workflow Environment for All Stages of Research
SUNNYVALE, Calif. and LORNE, Australia, Feb. 20 /PRNewswire-FirstCall/ -- 29th Annual Lorne Genome Conference -- To create an optimal workflow that encompasses the diverse computing requirements of bioinformatics research, the Malaysia Genomics Institute (MGI) selected SGI to design a unique SGI hybrid computing solution. Because bioinformatics research uses a variety of software at various stages in the workflow, the combined use of shared-memory systems and clusters can provide an optimal environment for the efficient use of each application. MGI looked to SGI to design a seamless, cohesive workflow for the entire process that would integrate into the existing infrastructure. SGI delivered a hybrid computing solution that consists of the new SGI BioCluster as well as an SGI(R) Altix(R) shared memory server and an SGI(R) InfiniteStorage CXFS(TM) SAN shared file system, which makes the entire workflow transparent to the user regardless of software employed or stage of the process at which scientists are performing.
"Bioinformatics brings together an avalanche of systematic biological data with the analytic theory and practical tools of mathematics and computer science," said Mohd Noor Mat Isa, Laboratory Manager, Malaysia Genome Institute. "SGI delivered flexible computing with a hybrid architecture that integrates high-throughput, high-performance and FPGA-based solutions for all of our bioinformatics applications -- a solution that seamlessly runs applications in the environment best suited for optimal performance."
Genomic sequencing operations utilize applications such as PHRAP, Staden Package, JAZZ , Consed, and BLAST each with specific compute requirements necessitating multiple systems. The SGI BioCluster solution includes a software layer providing transparent workload scheduling through which users can submit jobs without hardware concerns. The SGI solution's administrative software intelligently cues submissions to run on the appropriate platform, providing best-in-class performance and optimal load balancing. Integrated cluster management tools and dynamic software controls can change the total system from a single meta-cluster to semi-autonomous sub-clusters as needs dictate. For unexpected time-critical computing challenges, the SGI hybrid solution enables administrators to bring all available resources to bear on a single job.
MGI, also known as GENOMalaysia, is a network-based organization carrying out discovery research on tropical bioresources through projects in genome sequencing, comparative and functional genomics, and structural biology. Several major research projects are currently underway at MGI. For example, the Microbial Genomics Research for Gene and Natural Product Discovery project is focusing on two model organisms, Burkholderia pseudomallei, a locally important soil pathogen and Eimeria tenella, a local avian protozoan. The project will harness the SGI solution to dissect the organisms' genomes to gain new insights on virulence, antibiotic resistance, host specificity and infectivity.
The Institute also collaborates with other research facilities and universities throughout the world, including the Antarctica Research Group at the University of Tasmania, Wellcome Trust Sanger Institute, University of Sheffield, UK and Stanford University.
SGI worked with channel partner Quantum Beez Sdn Bhd (formerly known as Open Source Systems) to design and develop the SGI hybrid solution for MGI.
"Malaysia Genome Institute needed a single, integrated computing platform that leverages the best of two distinct computing environments: a larger shared memory system for high performance computing, and a cluster-based system for high throughput computing, both supported by an SGI InfiniteStorage CXFS SAN shared file system that provides uncompromised data sharing, improved workflow, and reduced costs for these data intensive environments," said Deepak Thakkar, higher education and research segment manager, SGI. "SGI produced one powerful solution with two architectures and a high-speed SAN infrastructure for direct access to all data. This hybrid solution delivers optimum return on investment for heterogeneous or multi-vendor based workflows."
SGI -- Innovation for Results(TM)
SGI is a leader in high-performance computing. SGI delivers a complete range of high-performance server, visualization and storage solutions along with industry-leading professional services and support that enable its customers to overcome the challenges of complex data-intensive workflows and accelerate breakthrough discoveries, innovation and information transformation. SGI helps customers solve significant challenges whether it's enhancing the quality of life through drug research, designing and manufacturing safer and more efficient cars and airplanes, studying global climate change, providing technologies for homeland security and defense, or helping enterprises manage large data. With offices worldwide, the company is headquartered in Sunnyvale, Calif., and can be found on the Web at sgi.com.
(C) 2007 SGI. All rights reserved. SGI, Altix, the SGI cube and the SGI logo are registered trademarks, and CXFS is a trademark of SGI in the United States and/or other countries worldwide. All other trademarks mentioned herein are the property of their respective owners.
This news release contains forward-looking statements regarding SGI technologies and third-party technologies that are subject to risks and uncertainties. These risks and uncertainties could cause actual results to differ materially from those described in such statements. The reader is cautioned not to rely unduly on these forward-looking statements, which are not a guarantee of future or current performance. Such risks and uncertainties include long-term program commitments, the performance of third parties, the sustained performance of current and future products, financing risks, the ability to integrate and support a complex technology solution involving multiple providers and users, and other risks detailed from time to time in the company's most recent SEC reports, including its reports on Form 10-K and Form 10-Q.
MEDIA CONTACT
Marla Robinson
marlar@sgi.com
256.773.2371
SGI PR HOTLINE
650.933.7777
SGI PR FACSIMILE
650.933.0714
SGI
CONTACT: Marla Robinson of SGI, +1-256-773-2371, marlar@sgi.com
Web site: http://www.sgi.com/
Secured Digital Storage Confirms Name Change; Commences Trading Under New Symbol
CHICAGO, Feb. 20 /PRNewswire-FirstCall/ -- Secured Digital Storage Corporation (BULLETIN BOARD: SDGS) , f/k/a Mountains West Exploration, Inc. (previously OTC Bulletin Board: MWXI) (SDS) today announced that, in connection with its recent corporate name change, the Company's ticker symbol on the OTC Bulletin Board has changed to SDGS.OB effective today, Wednesday, February 20, 2008. Voting and all other rights relating to the Company's common stock will not be affected by the name and symbol change. Stockholders are not required to surrender existing certificates as a result of the name or symbol change.
About Secured Digital Storage Corporation
Secured Digital Storage Corporation (f/k/a Mountains West Exploration, Inc.) is a New Mexico corporation which is quoted on the OTC Bulletin Board (OTC.BB) under the symbol SDGS.OB. SDS is a data management and digital storage lifecycle management (DSLM) partner to business and IT operations. The company will offer a comprehensive blend of managed services solutions to meet the industry specific needs of business and government agencies. SDS's service offerings will assist customers to manage growing volumes of data and meet compliance regulations at a lower cost of ownership and gain heightened IT efficiency, business continuity and protection via an on-demand storage network.
Forward-Looking Statements
Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements.
Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the company's inability to accurately forecast its operating results; the company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the company's business. For further information on factors which could impact the company and the statements contained herein, reference should be made to the company's filings with the Securities and Exchange Commission, including annual reports on Form 10-KSB, quarterly reports on Form 10-QSB and current reports on Form 8-K. The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Contact:
Secured Digital Storage
D. Skip Behm
VP Finance
630-271-8590
Secured Digital Storage Corporation
CONTACT: D. Skip Behm, VP Finance of Secured Digital Storage Corporation, +1-630-271-8590
Baldor Electric Company Contributes $17.1 million to Employee Profit Sharing and Savings Plan
FORT SMITH, Ark., Feb. 20 /PRNewswire-FirstCall/ -- Baldor Electric Company markets, designs, and manufactures industrial electric motors, power transmission products, drives, and generators and is based in Fort Smith, Arkansas. Today Baldor announced the results of its 2007 employee profit sharing plan contribution.
This year marks the 51st anniversary of the Baldor Employee Profit Sharing and Savings Plan. In 1957, Baldor Electric Company began sharing its profits as a way of sharing the company's financial success with its employees. This philosophy still applies today and is as equally important as it was back in 1957. The plan also reinforces the significant role Baldor employees play throughout the year in taking care of our customers and contributing to the company's success.
Today, Baldor contributes approximately 12% of the pre-tax earnings to the plan. As a result of record company sales and earnings, this year's profit sharing contribution is $17,135,952. Baldor's sales in 2007 were $1.82 million and profits were $94 million.
For 2007, there were 5,439 eligible employees in Baldor's profit sharing plan and the average contribution was 3.5 weeks of pay. Baldor employees who have worked for the company for two years or more are included in the plan. In the past 5 years, the company has contributed $48,364,944 to the profit sharing plan on behalf of its employees.
Participants in the Baldor Employee Profit Sharing and Savings Plan have approximately $270 million invested in the plan. In addition, employees retiring from Baldor in 2007 withdrew over $20 million from the plan. The plan is fully funded each year and Baldor employees have 10 investment choices for their money.
John McFarland, Chairman and CEO said, "Baldor feels it's the right thing to do to share profits with our employees and has been doing so for 51 years. Our profit sharing plan is a great way for our employees to see how their efforts to continually improve productivity, quality and customer service enable the company to increase profits and our profit sharing contribution. Our profit sharing plan is also an outstanding way for Baldor employees to accumulate money for retirement."
Baldor Electric Company, headquartered in Fort Smith, Arkansas, was founded in 1920 and has approximately 8,000 employees across the United States, Canada, Latin America, Europe and the Far East. Baldor also sells its products in more that 60 countries throughout the world.
Baldor Electric Company
CONTACT: Tracy L. Long, Vice President Investor Relations of Baldor Electric Company, +1-479-648-5769
Web site: http://www.baldor.com/
Sky440 Names New Board
ORANGE, Calif., Feb. 20 /PRNewswire-FirstCall/ -- Sky440, Inc., (Pink Sheets: SKYF), announced today that it has named John Harris, Chet Hong and Barry Nester to its Board of Directors. Mr. Harris will also serve as President and CEO. The new members will serve on the board until the next annual stockholders meeting.
John Harris, President and CEO, has more than 22 years of experience in executive management positions. From 1985 to 1991 he held senior management and staff level positions with several National Mortgage Corporations. Mr. Harris Founded Western Hills Mtg. Corp. in 1991 where he managed operations, technical services, business development, marketing, finance, and human resources. Mr. Harris Founded Silver Bay Mortgage Corp., in 2004 as a diversified brokerage firm consisting of Real Estate, Finance, Escrow, and Land Development operations. Mr. Harris Founded American Homes Direct Lending Corporation in 2005 as a joint venture agreement with an established home building company, where Mr. Harris was responsible for developing the corporate strategy, continuing sustainable business plan growth, and overseeing all corporate activities. In 2005 Mr. Harris Assisted in Real Estate acquisitions, finance operations, and escrow operations of Silver Bay Mtg. Corp., and then he created Silver Bay Development as a wholly owned Subsidiary of Silver Bay Mtg. Corp. His diversified experience in land acquisition, finance, and project management enables him to assist clients with sourcing both debt and equity capital for their development and construction projects. At present time Mr. Harris continues to oversee and manage ongoing land acquisitions, entitlements, and land development transactions as well as consulting with clients on other projects.
Chet Hong, at-large Director, is the founder and Managing Director of the Elixiant Group, a management consulting organization focused on business and corporate development, licensing/technology acquisition strategies and market development. He was formerly an executive consultant for Fujitsu Software, the $2Bn software arm for Fujitsu Limited $40Bn in annual revenues, where he ran their Business Development/Strategy and Compliance practices. Mr. Hong was also retained by Forrester Research's to help develop their Greater China strategies and was the VP of Business/Corporate Development for China.com in charge of their US arm of a $500MM venture fund as well as their strategic alliances. Mr. Hong was also the VP of Business Development for MediaWay, an enterprise software developer of media and brand asset management and previously ran Visioneer's $25 Million software division where he launched software titles targeted at the consumer and business segments. Additionally, he was the co-founder of two digital imaging technology companies, XRS, acquired by Kodak, and ITG, acquired by a large Global Asian business concern.
Barry Nester, an executive with over 25 years sales and marketing expertise in the IT space, was formerly the VP of Channel Sales for Anixter, a $2.5 billion IT leader in supply chain services and distribution of communications and networking products, where he was instrumental in developing the Higher Education and Local Government channel. In addition, Mr. Nester was the VP of Sales and Marketing for Swiftcomm, a leading provider of data collocation, high speed broadband, web/mail hosting and hosted IT services where he secured Fortune 500 accounts such as Boeing, Disney Entertainment, Edison, Lockheed, ABC Entertainment and Grumman and was a key contributor in its acquisition by SBC. His tenure also included stints at Cisco, a leading supplier of networking equipment, where year after year Mr. Nester was in the top 10% of sales representatives and grew his region from $200K to $13M in (3) years and AudioTek, a subsidiary of Toshiba, that distributes electronics and computer hardware, where he ran the US Western Region.
About Sky440
Sky440, Inc., based in Orange, California, is focusing on the electronic hardware and computer component industry. Sky440 is in the business of acquiring and operating regional North American distributors of networking hardware and other computer related components.
More information about Sky440, Inc., can be found at: http://www.sky440.com/
Notes about forward-looking statements:
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.
Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "expects," "intends," "believes," "may," "should" and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date when they are made.
Contact:
Chet Hong
650-557-2182
Sky440, Inc.
CONTACT: Chet Hong of Sky440, Inc., +1-650-557-2182
Kensey Nash Receives FDA 510(k) Clearance for New Safe-Cross(R) Vessel Wall Detection Technology
EXTON, Pa., Feb. 20 /PRNewswire-FirstCall/ -- Kensey Nash Corporation today announced that it has received 510(k) clearance for an important vessel wall detection technology from the U.S. Food and Drug Administration, designed to enhance the guidance provided by the Safe-Cross(R) RF CTO System. The Safe-Cross System combines a forward-looking guidance system and radio frequency (RF) energy to safely cross and recanalize chronic total occlusions in the coronary and peripheral arteries.
The clearance allows Kensey Nash to incorporate a new interferometer with greater dynamic range into the Safe-Cross console, an important element of the System involved in vessel wall detection. The advanced technology will allow the System to sense the vessel wall farther in advance. Earlier vessel wall detection should provide the physician operator with more options to redirect the wire while crossing a chronic total occlusion.
"We believe this will be a very significant advancement for our Safe-Cross technology," commented Douglas G. Evans, Chief Operating Officer of Kensey Nash Corporation. "While the mechanism of detection is identical to our current Safe-Cross System, the new high dynamic range interferometer should allow a physician to detect the vessel wall sooner, and to have more flexibility to make appropriate adjustments with the direction of the wire. We believe this will be a welcome advancement in the treatment of challenging CTO lesions," he concluded.
Safe-Cross consoles incorporating the new technology will undergo a period of user evaluations prior to broader market introduction. This new technology has also been submitted in a design dossier for CE Mark approval, expected later this year. Separately, Kensey Nash has additional improvements underway for the Safe-Cross product line, which will require separate regulatory clearances. Kensey Nash is now finalizing a completely new user interface, designed to simplify the presentation of information important to the physician user. The new user interface, as well as other minor software enhancements, are planned to be introduced in Kensey Nash's fiscal 2009 year.
The Safe-Cross(R) RF CTO System
The Safe-Cross System is designed to safely cross CTOs using Optical Coherence Reflectometry (OCR) technology as guidance and Radio Frequency (RF) as an energy source to penetrate the difficult lesions. The Safe-Cross(R) System is the only commercialized product that combines forward guidance with a crossing mechanism in a familiar guidewire configuration. The System is designed to give the interventionalist real-time feedback as to the proximity of the crossing wire to the arterial wall plus the capability to use RF power on the tip of the wire to assist in penetrating hardened material within the artery, thus facilitating safe and successful passage and placement of therapeutic devices for recanalization in native coronary and peripheral arteries.
This guidance technology is based on optical coherence reflectometry, with near infrared light being transmitted and received through a small optical fiber incorporated into the guidewire. This near infrared signal is analyzed through an interferometer to resolve the reflections by distance, a process analogous to that of ultrasound, but with light rather than acoustic waves. If the vessel wall is detected, RF energy cannot be released and the operator is visually warned of the guidewire's proximity to the wall. The operator can then redirect the guidewire to remain in the lumen and continue its progress through the occlusion. The Safe-Cross System only allows RF energy to be released when the guidewire is directed safely within the lumen of the vessel.
The CTO Market
Chronic Total Occlusions are described as the "last frontier" of interventional cardiology and represent a large market opportunity in both coronary and peripheral markets. It is estimated that 30-50% of people diagnosed with coronary artery disease have at least one CTO, yet patients are rarely treated due to challenging nature of the cases and the inability to cross the CTO with conventional guidewire techniques. Often patients are not treated at all, or are referred for coronary bypass surgeries. Successful interventions of coronary CTOs have been associated with increased survival rates, decreased rates of coronary bypass surgery, and enhanced quality of life.
Peripheral Vascular Disease (PVD) is a large and rapidly growing market affecting well over 9 million people in the United States. There are approximately 2.5 million patients in the U.S. diagnosed annually with lower extremity PVD, which includes atherosclerosis of the SFA, popliteal, and distal arteries below the knee. As lower extremity PVD worsens, Critical Limb Ischemia (CLI) can develop, significantly increasing a patient's risk for amputation and limb loss. An estimated 1.5 - 2 million patients suffer from CLI, and each year, of which approximately 330,000 patients with lower limb PVD are referred to surgery, either for an invasive bypass procedure (170,000) or for amputation (160,000). More broadly, clinicians estimate that 50% of all peripheral lesions, or 1.25 million lower extremity PVD patients, have CTOs, and there is a broad consensus among interventionalists that existing tools are inadequate and that better solutions are required.
About Kensey Nash Corporation
Kensey Nash Corporation is a leading medical technology company providing innovative solutions and technologies for a wide range of medical procedures. The Company provides an extensive range of products into multiple medical markets, primarily in the endovascular, sports medicine and spine markets. Many of the products are based on the Company's significant expertise in the design, development, manufacturing and processing of absorbable biomaterials, which has led to partnerships to commercialize technologies. Kensey Nash has also commercialized a series of innovative products through its own direct endovascular sales force. The Company is known as a pioneer in the field of arterial puncture closure, as the inventor and developer of the Angio-Seal(TM) Vascular Closure Device, which is licensed to St. Jude Medical, Inc.
Cautionary Note for Forward-Looking Statements
This press release contains forward-looking statements that reflect the Company's current expectations about its prospects and opportunities. The Company has tried to identify these forward looking statements by using words such as "expect," "anticipate," "estimate," "plan," "will," "forecast," "believe," or similar expressions, but these words are not the exclusive means for identifying such statements. The Company cautions that a number of risks, uncertainties, and other important factors could cause the Company's actual results to differ materially from those in the forward-looking statements including, without limitation, the Company's success in launching its endovascular products into the marketplace, the Company's dependence on three major customers (St. Jude Medical, Arthrex and Orthovita) and their success in selling Kensey Nash related products in the marketplace, the impact of product recalls and other manufacturing issues, and competition from other technologies, among other important risks. For a more detailed discussion of these and other factors, please see the Company's SEC filings, including the disclosure under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
Kensey Nash Corporation
CONTACT: Joseph W. Kaufmann, President and Chief Executive Officer of Kensey Nash Corporation, +1-484-713-2100
Web site: http://www.kenseynash.com/
WallSt.net (www.wallst.net) Announces Upcoming Interview With President and CEO of EP Global Communications, Inc.
NEW YORK, Feb. 20 /PRNewswire/ -- Joe Valenzano, President and CEO of EP Global Communications, Inc. (BULLETIN BOARD: EPGL) (http://www.eparent.com/) will be featured in an exclusive interview with http://www.wallst.net/ that is scheduled to take place on February 22, at 12:30 p.m. EST. The interview will be posted on http://www.wallst.net/ by 8 p.m. EST on February 22, 2008.
The interview will cover topics including EP Global Communications' market potential, growth initiatives, competitive edge, recent news, and milestones for investors to watch for.
To hear the interview in its entirety, visit http://www.wallst.net/, and click on "Interviews." The interview can be accessed either by locating the company's ticker symbol under the appropriate exchange on the at the top of the "Interviews" section of the site, or by entering the company's ticker symbol in the Search Archive window on the right-hand column of the "Interviews" section once it is posted.
About EP Global Communications
Based in Johnstown, PA, 37-year-old EP Global Communications, Inc. is an award-winning publishing and communications company providing information for families and professionals involved in the care and development of people with disabilities and special healthcare needs. EP uses a multi-media approach to disseminate information via: its publication, Exceptional Parent; Web site (http://www.eparent.com/); custom communications projects; the EP Bookstore of disability books, videos and DVDs; live and on-line interactive seminars through EPLiveOnLine, a joint venture with Vemics, Inc; and community outreach programs such as the national Disability Awareness Night (DAN) campaign.
About WallSt.net
http://www.wallst.net/ is owned and operated by WallStreet Direct, Inc., a wholly owned subsidiary of Financial Media Group, Inc. (http://www.financialmediagroupinc.com/). The Web site is a leading provider of timely business news, executive interviews, multimedia content, and research tools. Financial Media Group, Inc. also owns http://www.mywallst.net/, a financial social network for investors, and Financial Filings Corp. (http://www.financialfilings.com/), a provider of media and compliance solutions to publicly traded companies. In addition to WallSt.net, WallStreet Direct, Inc. owns and operates WallStRadio (http://www.wallstradio.com/), a business and finance podcast Web site. Financial Filings Corp. is expecting to receive two hundred eighty dollars from EP Global Communications, Inc. for the dissemination of this press release. For a complete list of our advertisers, and advertising relationships, visit http://www.wallst.net/disclaimer/disclaimer.asp.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050927/LATU121LOGO)
Contact:
WallSt.net
800-4-WALL-ST
Photo: http://www.newscom.com/cgi-bin/prnh/20050927/LATU121LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
WallStreet Direct, Inc.
CONTACT: WallSt.net, 1-800-4-WALL-ST
Web site: http://www.financialfilings.com/ http://www.eparent.com/ http://www.wallst.net/
TV Azteca Investor Relations Website Receives International Design Award
MEXICO CITY, Feb. 20 /PRNewswire-FirstCall/ -- TV Azteca, S.A. de C.V. (BMV: TVAZTCA; Latibex: XTZA), one of the two largest producers of Spanish- language television programming in the world, announced today that its investor relations website received honors on behalf of iNOVA for design excellence.
iNOVA seeks to recognize important achievements in the creative design of Internet sites, as well as in the originality of their content and functionality. The sites that were considered include those from more than 230 companies in 33 countries, among them, Germany, United States, Canada, Great Britain, Italy, Japan and Mexico.
"Winning an iNOVA Award is a tribute to the creative team that does outstanding work," said the competition's founder, Reni Witt. "This prize endorses all the hard work put into a site's creation and development."
The faculty of distinguished judges is incorporated by the International Academy of Communications Arts and Sciences (IACAS), founded to set high standards for communication specialties, and its members are considered an international Who's Who in the communication industry.
"We are excited to once again receive recognition for the work developed by our team," said Luis J. Echarte, Grupo Salinas VP of International Relations and Finance Strategy. "Our site has proved to be a leader in interactive systems and information with our investors, and is a great tool for all of those interested in our company."
We welcome visits to our website http://www.irtvazteca.com/ and hope to receive comments, which help to improve this important communication tool.
Company Profile
TV Azteca is one of the two largest producers of Spanish-language television programming in the world, operating two national television networks in Mexico, Azteca 13 and Azteca 7, through more than 300 owned and operated stations across the country, and Proyecto 40, which is broadcast in UHF. TV Azteca affiliates include Azteca America Network, a new broadcast television network focused on the rapidly growing U.S. Hispanic market, and Azteca Web, an Internet company for North American Spanish speakers.
TV Azteca is a Grupo Salinas company (http://www.gruposalinas.com/), a group of dynamic, fast growing, and technologically advanced companies focused on creating shareholder value, and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas, Grupo Salinas operates as a management development and decision forum for the top leaders of member companies.
Investor Relations:
Bruno Rangel Carla SanchezArmas
+ 52 (55) 1720 9167 + 52 (55) 1720 0041
jrangelk@tvazteca.com.mx csanchezarmas@tvazteca.com.mx
Press Relations:
Tristan Canales Daniel McCosh
+ 52 (55) 1720 1441 + 52 (55) 1720 0059
tcanales@gruposalinas.com.mx dmccosh@tvazteca.com.mx
TV Azteca, S.A. de C.V.
CONTACT: Investor Relations, Bruno Rangel, +011-52-(55)-1720-9167, jrangelk@tvazteca.com.mx, Carla SanchezArmas, +011-52-(55)-1720-0041, csanchezarmas@tvazteca.com.mx, both of of TV Azteca; or Press Relations, Tristan Canales +011-52-(55)-1720-1441, tcanales@gruposalinas.com.mx, Daniel McCosh, +011-52-(55)-1720-0059, dmccosh@tvazteca.com.mx, both of Grupo Salinas
Web site: http://www.tvazteca.com.mx/ http://www.irtvazteca.com/
LeGuide.com: Forte progression 2007 vs 2006 : Chiffre d'affaires : + 54% - Résultat d'exploitation : + 61% - Résultat net : + 82%
PARIS, February 20 /PRNewswire/ -- LeGuide.com S.A., premier éditeur français indépendant de
guides shopping sur Internet, annonce des résultats en forte hausse sur son
exercice clos au 31 décembre 2007.
Chiffres consolidés en 2007 % CA 2006 % CA Evolution
MEUR
Chiffres d'affaires 12,5 - 8,1 - +54,0%
Résultat d'exploitation 3,9 31,1% 2,4 29,6% +61,5%
Résultat courant avant 4,4 35,0% 2,5 30,4% +77,5%
impôts
Résultat net 3,0 23,9% 1,6 20,2% + 81,7%
Ndegrees1 en France, ndegrees2 en Espagne, fort développement
en Europe
LeGuide.com S.A. s'est fortement développé tant en France (CA
+47%) qu'en Europe (CA multiplié par 2,4). Cette progression, réalisée
uniquement par croissance interne, est nettement supérieure à celle du marché
de l'e-commerce. Elle témoigne donc non seulement du fort potentiel de
croissance de son marché mais aussi du bon positionnement de la société.
En France, LeGuide.com S.A. est devenu le Ndegrees1 des
éditeurs de guides shopping en audience* sur les quatre derniers mois de
2007.
Sur l'ensemble de l'Europe, la société affiche 6 640 000
visiteurs uniques** avec un réseau de sites qui couvre désormais 14 pays
européens.
Une forte hausse du résultat d'exploitation, du résultat net
et du BNPA
Le résultat d'exploitation de LeGuide.com S.A. s'élève à 3,9
MEUR au 31 décembre 2007, soit une progression de 61,5%, supérieure à celle
du chiffre d'affaires.
Grâce à l'efficacité de son modèle économique, le chiffre
d'affaires a progressé de 4,5 MEUR alors que les coûts d'exploitation ont eux
augmenté de moins de 3 MEUR.
Le résultat net atteint 3,0 MEUR au 31 décembre 2007, en très
forte hausse de +81,7% par rapport à 2006. Malgré l'effet dilutif de
l'augmentation de capital menée en juin 2007, le bénéfice net par action
ressort en progression de plus de 50% à 0,98 EUR/action.
Une solide structure financière
L'activité a généré un flux de trésorerie de 3,8 MEUR sur
l'exercice, portant à 21 MEUR la trésorerie nette au 31 décembre 2007. La
situation financière de la société est extrêmement solide avec 22 MEUR de
capitaux propres et aucun endettement.
Excellentes perspectives 2008
LeGuide.com S.A. entend poursuivre la mise en oeuvre de sa
stratégie de développement sur le marché européen des guides shopping tout en
maintenant un niveau de rentabilité élevé.
En France, la société prévoit de consolider sa position de
leader et vise à nouveau pour 2008 une croissance sensiblement supérieure à
celle du e-commerce.
En Europe, LeGuide.com S.A. poursuivra le développement de son
audience et son déploiement commercial avec pour objectif d'augmenter
significativement la contribution de l'international au chiffre d'affaires et
au résultat.de la société.
* Source Médiamétrie Nielsen/Netratings
** Source Médiamétrie Nielsen/Netratings pour France/ Allemagne/
Espagne/Suisse/Italie et estimation pour les autres pays
Publication du chiffre d'affaires du 1er trimestre 2008 le 25
avril 2008, après clôture
A propos de LeGuide.com S.A.
Guide shopping de référence sur Internet, LeGuide.com S.A. a
pour vocation d'une part, d'aider l'internaute dans la recherche, la
comparaison et l'achat de produits en ligne et, d'autre part, de développer
la visibilité, l'audience et les ventes des e-commerçants. Forte de son
succès en France avec les sites www.leguide.com, www.leguide.net et
http://www.webmarchand.com, la société développe son modèle à
l'international. Le réseau LeGuide.com S.A. est opérationnel dans 14 pays :
en France, Belgique, Allemagne, Autriche, Suisse, Luxembourg, Espagne,
Royaume-Uni, Irlande, Pologne, Italie, Pays Bas ainsi qu'en Suède et au
Danemark depuis décembre 2007. La société regroupe une équipe internationale
de 69 collaborateurs et édite ses sites en 9 langues.
LeGuide.com S.A. est qualifiée << Entreprise Innovante >> par
OSEO Anvar et cotée en continu sur Alternext de NYSE-Euronext Paris
(mnémonique ALGUI, code ISIN FR0010146092).
Plus d'information : http://www.leguide.com/finance
LeGuide.com S.A.
Astrid Canevet
Tel : +33(0)1-55-43-36-10
finance@leguide.com
Actifin
Ségolène de Saint Martin
Tél : +33(0)1-56-88-11-14
ssaintmartin@actifin.fr
Euroland Finance (Listing Sponsor)
Julia Temin
Tél : +33(0)1-44-70-20-84
jtemin@euroland-finance.com
LeGuide.com Group
LeGuide.com S.A., Astrid Canevet, Tel : +33(0)1-55-43-36-10, finance@leguide.com, Actifin, Ségolène de Saint Martin, Tél : +33(0)1-56-88-11-14, ssaintmartin@actifin.fr; Euroland Finance (Listing Sponsor), Julia Temin, Tél : +33(0)1-44-70-20-84, jtemin@euroland-finance.com
Conference Call Notice - Cinram International Income Fund Fourth Quarter and Full-Year 2007 Results Conference Call and Webcast
TORONTO, Feb. 20 /PRNewswire-FirstCall/ -- Cinram International Income Fund (TSX: CRW.UN) will report its fourth quarter and full-year 2007 financial results on Wednesday, March 5, 2008, after market close. The news release will be available on Cinram's website http://investors.cinram.com/Default.aspx and on http://www.newswire.ca/ after 4 p.m. on March 5.
Conference Call
Senior management will host a conference call on Thursday, March 6, 2008, at 10 a.m. ET. A supplementary slide package will also be posted on Cinram's website before the call. To participate, please dial:
- In Toronto: (416) 644-3417
- Toll-free: 1 800 732-0232
Replay
A replay of the call will be available from approximately two hours after the call has ended until midnight on Thursday, March 13, 2008. To access the replay, please dial:
- In Toronto: (416) 640-1917 (access code 21261700 followed by the
number sign)
- Toll-free: 1 877 289-8525 (access code 21261700 followed by the
number sign)
Webcast
The conference call will also be webcast live, and archived at:
- http://investors.cinram.com/News.aspx
- http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2160400
About Cinram
Cinram International Inc., an indirect, wholly-owned subsidiary of the Fund, is the world's largest provider of pre-recorded multimedia products and related logistics services. With facilities in North America and Europe, Cinram International Inc. manufactures and distributes pre-recorded DVDs, audio CDs, and CD-ROMs for motion picture studios, music labels, publishers and computer software companies around the world. Cinram now also provides distribution and logistics services to the telecommunications industry in North America and Europe through its wireless subsidiaries. The Fund's units are listed on the Toronto Stock Exchange under the symbol CRW.UN. For more information, visit our website at http://www.cinram.com/.
Cinram International Income Fund
CONTACT: Lyne Beauregard Fisher, Tel: (416) 321-7930, lynefisher@cinram.com
Marriott Recycles Computers and Electronics, Nearly 400,000 Pounds of HardwareComputerworld Magazine Names Marriott Among "Top 12 Green IT Companies"
BETHESDA, Md., Feb. 20 /PRNewswire/ -- Marriott International, Inc. ranked among the top 10 today on Computerworld magazine's first- ever "Top 12 Green IT Companies" list. Marriott, the only hospitality company named, was recognized for IT energy conservation, IT recycling and reduction of carbon emissions.
Marriott's IT environmental achievements include:
-- Establishing ENERGY STAR compliance standards for all IT assets
-- Eliminating 25.6 tons of CO2 output annually by replacing (NUMBER)
printers
-- Reducing IT energy consumption by:
-- utilizing server virtualization, resulting in the elimination of 300
servers;
-- replacing 5,000 desktop PCs with thin client computers, reducing
energy consumption by 50 percent per device; and
-- archiving data, resulting in 65 percent reduction in power usage.
"We are implementing innovative ways to reduce, reuse, and recycle; as well as ensuring we implement technology in the most energy efficient and environmentally friendly ways," said Carl Wilson, executive vice president and chief information officer, Marriott International.
Working with Secure the Call, a not-for-profit organization, Marriott's IT department actively recycles cell phones and PDAs, which are then repurposed for 911/emergency-only use by the community. Marriott is also an active member of Electronic Product Environment Assessment Tool (EPEAT) which is developing a system to help purchasers in the public and private sectors evaluate, compare and select desktop computers, notebooks and monitors based on their environmental attributes.
Marriott's commitment to the environment spans more than 20 years. Focus areas include: water and energy conservation, clean air initiatives, reduce- reuse-recycle waste management, clean-up campaigns, and wildlife preservation. Marriott leads the industry with more than 250 ENERGY STAR hotels and received the Sustained Excellence Award for excellence in energy management by the U.S. Environmental Protection Agency. For more information, visit http://www.marriott.com/environment.
MARRIOTT INTERNATIONAL, Inc. is a leading lodging company with about 3,000 lodging properties in the United States and 67 other countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club, Horizons by Marriott Vacation Club, The Ritz-Carlton Club and Grand Residences by Marriott brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. The company is headquartered in Bethesda, Md., and had approximately 151,000 employees at 2007 year-end. It is ranked as the lodging industry's most admired company and one of the best companies to work for by FORTUNE(R), and has been recognized by the U.S. Environmental Protection Agency (EPA) with the 2007 Sustained Excellence Award and Partner of the Year since 2004. In fiscal year 2007, Marriott International reported sales from continuing operations of $13 billion. For more information or reservations, please visit our web site at http://www.marriott.com/.
Marriott International, Inc.
CONTACT: Dasha Ross, +1-301-380-8521, dasha.ross@marriott.com, or Pia Taylor, +1-301-380-3123, pia.taylor@marriott.com, both of Marriott International, Inc.
Web site: http://www.marriott.com/ http://www.marriott.com/environment
Company News On-Call: http://www.prnewswire.com/comp/532963.html
Automated Vending Technologies Enters Into Agreement With 24 HR. PRODUCTS to Build a Custom Version of a Cellular Phone and Accessories Dispensing System
CORONA, Calif., Feb. 20 /PRNewswire-FirstCall/ -- Automated Vending Technologies, Inc. (Pink Sheets: AVTC), a technology driven vending manufacturer, is pleased to announce its contract with 24 HR. PRODUCTS Company, a progressive company and authorized dealer of metro PCS products and services, specializing in cellular phone sales and services.
AVT is confident that its latest, customized machine will allow the inventive plan developed by 24 HR. PRODUCTS to be successful. The relationship between AVT and 24 HR. PRODUCTS has been a design process with AVT creating an innovational vending machine that dispenses such primary products as Metro PCS cell phones and accompanying accessories. It is a multiphase process that has resulted in increased revenues for Automated Vending Technologies.
James Winsor, AVT's Director of Engineering and Manufacturing, emphasized that "this technologically bold machine built for 24 HR. PRODUCTS is packed with enhanced features. It is powered with AVT's Touch Screen Software and is equipped with a 22" LCD screen for delivering product information. Also, the system has an integrated backlit display showcasing the cell phones and accessories, and, best of all, this dispensing center offers a dual purpose service for consumers. It is unique in that it allows a customer to purchase a cell phone and also to pay a cell phone bill."
"The beauty of this machine," adds Teresa Papac, AVT's Director of Marketing, "is the capability this particular vending unit has to not only utilize our multi-payment system which naturally includes debit and credit, but also this vending system can dispense monetary change in the form of multi-denominational currency."
AVT's National Sales Director Tommy Buzbee stressed that the integrated RAM 4000 technology can "return the consumer's change in the form of bills rather than coin, easily allowing the purchaser of a higher-priced item such as a cell phone (or iPod), as well as personal electronic devices or accessories, to comfortably use cash in $5 through $20-dollar-bill installments or higher."
Mr. Winsor concludes that "AVT's newest, exciting machine designed for 24 HR. PRODUCTS is changing and defining the now progressive world of vending." The new machines are initially being placed in the huge Los Angeles market.
Please visit Automated Vending Technologies' new, updated web site at http://www.avtinconline.com/ to learn more about this product and other cutting edge products developed and produced by AVT.
About Automated Vending Technologies
Automated Vending Technologies has emerged as a leader in integrated vending solutions in the competitive vending industry. Since 2001, the Company has grown from providing vending route operations to a fully operating company with strategically established partnerships and subsidiaries. The Company prides itself on not only providing top quality vending products, but also streaming video through its revolutionary vending technology.
Automated Vending Technologies, Inc. (Pink Sheets: AVTC) is a vending solutions provider based in Corona, California that has developed several significant vending machine technologies that yield a more efficient and reliable yet technically advanced system. This advanced technology provides methods for cashless payment, credit card and debit card use, dynamic advertising with remote tracking and inventory management. AVTC has grown privately for five years and has a strong balance sheet with current revenues, inventory and assets. Automated Vending Technologies currently serves more than 300 government and commercial vending accounts in Southern California.
Forward-Looking Statements
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
Contact:
Automated Vending Technologies, Inc.
Tommy Buzbee (National Sales Director)
951-737-1057
Automated Vending Technologies
CONTACT: Tommy Buzbee, National Sales Director of Automated Vending Technologies, Inc., +1-951-737-1057
Web site: http://www.avtinconline.com/
Ma Bell, Meet Joe Gamer: Sony Online Entertainment Ushers in New Era of Voice Chat for Online Games With Powerful Suite of Communication Services- SOE Gives In-Game Chat an Audio Overhaul in Agreement with Vivox(R) -
SAN FRANCISCO, Feb. 20 /PRNewswire/ -- Sony Online Entertainment LLC (SOE), a worldwide leader in massively multiplayer online games, is poised to revolutionize the way gamers stay connected with sophisticated new voice services where fellow gamers and guild mates are never more than a shout away.
Need standard chat for groups and raids? Check. Don't want to tie up your own bandwidth? Roger that. Want your voice to sound completely different? Done. Late for your raid but want to take part in the group setup by cell phone? Can do. Dream of having in-game voicemail? There ya go. Playing a non-SOE game but want to use this service, free of charge? Aye.
These powerful community building features and tools are coming to SOE games at no additional cost to players and go far beyond basic real-time chat with the usual headset and microphone setup that is commonly used today.
In an agreement announced Wednesday at the Game Developers Conference between SOE and Vivox, Inc., an established provider of high quality voice communications, players will be able to access a suite of voice communication tools including voice mail, voice fonts to synthesize player voices into in-game character voices, and the ability to receive external calls in SOE games.
"We're proud to offer this level of communication power and flexibility to gamers. These new voice services not only replace many of the voice chat options currently available but add a broad range of capabilities that streamline communication and empower gamers to maintain their online relationships in both the real and virtual worlds," said John Smedley, President of Sony Online Entertainment. "We are giving gamers the ultimate one-stop shop to stay in touch at all times."
Beyond voice and guild chat channels, North American players will get a special PIN number to dial in from either a land line or cell phone and connect with fellow guild members. SOE anticipates adding additional features including voicemail, broadcast messages, SMS text messaging and an initial offering of six high-quality voice fonts that replace a player's actual voice with something completely different.
With the 3D voice chat, players will be able to walk their avatars into the taverns in EverQuest II, for example, and strike up a conversation with players like they would walking into a tavern or restaurant in the real world. Gamers can manage their conversations with buddy lists, volume controls and commands to leave and join audio channels at will.
SOE's plan is to add these services to SOE's games, as well as integrate it with SOE's Station Launcher, so anyone who uses the Station Launcher, even if they don't otherwise subscribe to an SOE game, can take advantage of these powerful voice chat capabilities. Furthermore, the voice features will be hosted and professionally managed on the Vivox Network so users won't be cutting into their valuable bandwidth.
"We are thrilled to team up with SOE to bring Vivox voice chat and related services to their game community," said Rob Seaver, CEO of Vivox. "SOE is an industry leader with a long history of offering exceptional games and innovative services to players. Their plan to offer such a comprehensive voice service to their gamers is just another reflection of their commitment to delivering the best possible game experience and fostering community."
SOE's current catalog of massively multiplayer online games includes EverQuest(R), EverQuest(R) II, Star Wars Galaxies, PlanetSide and Vanguard: Saga of Heroes, as well as upcoming titles such as The Agency.
About Sony Online Entertainment
Sony Online Entertainment LLC (SOE) is a recognized worldwide leader in massively multiplayer online games, with hundreds of thousands of subscribers around the globe. SOE creates, develops and provides compelling entertainment for the personal computer, online, game console and wireless markets. Known for its blockbuster franchises and hit titles including EverQuest(R), EverQuest(R) II, Champions of Norrath(R), Untold Legends(TM), and PlanetSide(R), as well as for developing Star Wars Galaxies(TM), SOE continues to redefine the business of online gaming and the creation of active player communities while introducing new genres on various entertainment platforms. Headquartered in San Diego, CA, with additional development studios in Austin, TX, Seattle, WA, Denver, CO and Taiwan, SOE has an array of cutting-edge games in development. SOE is owned by Sony Pictures Digital and Sony Computer Entertainment America.
About Vivox, Inc.
Vivox provides high quality, massively scalable voice chat for online games and virtual worlds. Developers can enhance game play and foster community with Vivox's advanced feature set and unparalleled service. Today, the Vivox Network supports millions of users in more than 180 countries. Customers include CCP Games, Icarus Studios, K2 Network, Linden Lab, Metaversum, Pixel Mine Games, Simutronics, Sony Online Entertainment, Stratics, Wizards of the Coast and others. For more information: http://www.vivox.com/.
Sony Online Entertainment LLC
CONTACT: Courtney Simmons of Sony Online Entertainment LLC, +1-760-505-7879, csimmons@soe.sony.com; or Jennifer Frkanec of Vivox, Inc., +1-978-808-5086, jennifer.frkanec@vivox.com
Web site: http://www.station.com/ http://www.vivox.com/
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