Companies news of 2008-03-04 (page 4)
IPC Media Selects Interwoven Optimost to Optimize Their Web PresenceLeading Consumer...
ASAT Holdings Pre-Announces Higher Than Expected Revenue for the Third Quarter of Fiscal...
Brocade and BlueArc Partner to Simplify File Management in Distributed, Heterogeneous IT...
Institute for Supply Management(TM) Signs Exclusive Test Delivery Contract With Pearson...
Atmel and Phoenix Technologies Collaborate to Create Next-generation Security Solutions...
CADCOMMS Relies on Endeavors for On-Demand Application Delivery
Titanium Group Implements Biometric Sign-On Infrastructures for Hong Kong Immigration...
Imation Extends Availability of Memorex Brand Consumer Electronics to U.S. Commercial...
AT&T Answers the Need for Speed in Nassau CountyCompany Expands Wireless Broadband Network...
SAIC Delivers State-of-the-Art Test Facility to NATOFacility Conducts Integration Testing...
AWE and Jacobs Sign Revised Contract for Major Projects
Jacobs Receives General Engineering Services Contract From the Florida Department of...
Trina Solar Announces Fourth Quarter and Fiscal Year 2007 Results
Xilinx Virtex-5 65nm FPGA & Virtex-4 Reference Design Named Finalists in EE Times ACE...
Xilinx Accelerates Development of SFI-5 Applications With Hardware-Verified SolutionsFree...
Xilinx Named to '100 Best Corporate Citizens for 2008' List
VECTr Systems Receives Military Order Valued at up to $2.85 Million
SXC Health Solutions announces services agreement with MAXIMUS BC Health in province of...
AirMedia Signs New Concession Rights Contract to Operate in Wuhan Tianhe Airport
Atmel and Phoenix Technologies Collaborate to Create Next-generation Security Solutions...
Business Travelers Upgrade for Comfort and ConvenienceOrbitz for Business corporate...
Concur to Present at the 2008 Montgomery Technology Conference
Elbit Systems' Subsidiary, Cyclone, Will Supply Spirit AeroSystems With Commercial...
Iomega Announces New Removable REV 120GB Backup DriveThird-Generation REV Technology...
Pharsight Makes Strong Contribution to Inaugural American Conference on...
Simcere Pharmaceutical Group Reports Unaudited Fourth Quarter and Fiscal Year 2007 Results
Netherlands Defense Telematica Organization Deploys Amdocs OSS SolutionsCommunications...
Garmin(R) Introduces Enhanced nuvi(R) 2x5 Series, Bringing More Features, Options to...
Garmin's nuvi 900T: Combo Mobile TV, Navigation Device for Italy
Xyratex Announces High-Performance RAID Controller and Advanced Power Management Software...
IPC Media Selects Interwoven Optimost to Optimize Their Web PresenceLeading Consumer Magazine Publisher to Use Interwoven Multivariable Optimization Solution to Increase Subscription Sales
SAN JOSE, Calif. and LONDON, March 4 /PRNewswire-FirstCall/ -- IPC Media, a leading UK consumer magazine publisher whose titles include Marie Claire, Country Life and What's on TV, has selected the Interwoven Multivariable Optimization solution, powered by Interwoven Optimost, to increase visitor conversion rates on its magazine portfolio subscription site, http://www.giftmags.co.uk/.
(Logo: http://www.newscom.com/cgi-bin/prnh/20071205/INTWOVLOGO)
IPC Media, which sells subscriptions for almost 80 media titles, will use the Interwoven Multivariable Optimization solution to identify the optimal page design and content in order to increase subscription sales.
"Online subscription sales have become a huge focus for us," said Beatriz Montoya, Head of Subscriptions at IPC Media. "We're looking to improve all areas including conversion rates, time spent on each page, pages viewed and ultimately the number of subscriptions sold."
"We are delighted to be working with IPC Media, the UK's leading consumer magazine publisher," said Seth Rosenblatt, vice president of Optimost marketing at Interwoven. "Multivariable optimization can have a profound impact on maximizing a company's online business performance, and we look forward to working with IPC Media to help them deliver a superior customer experience and continue to evolve their brand online."
About the Interwoven Multivariable Optimization Solution
The Interwoven Multivariable Optimization solution, powered by Interwoven Optimost, delivered via a software-as-a-service model, helps companies with one of their biggest challenges: creating a compelling, engaging, and relevant online experience that delivers measurable business results. The solution optimizes virtually every online marketing element including landing pages, registration pages, shopping carts, credit card pages, banner ads, email creatives, and Web applications as well as every content type within them, including headlines, copy, forms, images, and rich media. By exposing different combinations of content to different visitors and then measuring visitors' actions, the Interwoven Multivariable Optimization solution can identify the most compelling combination of content and layout. Businesses can then offer the most effective presentation to visitors.
To learn more about the Interwoven Multivariable Optimization solution, please visit http://www.interwoven.com/optimost.
About Interwoven
Interwoven is a global leader in content management solutions. Interwoven's software and services enable organizations to maximize online business performance and organize, find, and govern business content. Interwoven solutions unlock the value of content by delivering the right content to the right person in the right context at the right time. Over 4,200 of the world's leading companies, professional services firms, and governments have chosen Interwoven, including adidas, Airbus, Avaya, BT, Cisco, Citi, Delta Air Lines, DLA Piper, the Federal Reserve Bank, FedEx, Grant Thornton, Hilton Hotels, Hong Kong Trade and Development Council, HSBC, LexisNexis, MasterCard, Microsoft, Samsung, Shell, Qantas Airways, Tesco, Virgin Mobile, and White & Case. Over 20,000 developers and over 300 partners enrich and extend Interwoven's offerings. To learn more about Interwoven, please visit http://www.interwoven.com/.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20071205/INTWOVLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Interwoven
CONTACT: UK, Ross Furlong of Furlong PR Ltd, +44 07803 900961, ross.furlong@furlongpr.com; or US, Danielle Hamel of Interwoven, Inc., +1-408-953-7251, dhamel@interwoven.com
Web site: http://www.interwoven.com/ http://www.giftmags.co.uk/
ASAT Holdings Pre-Announces Higher Than Expected Revenue for the Third Quarter of Fiscal 2008
HONG KONG and MILPITAS, Calif., March 4 /PRNewswire-FirstCall/ -- ASAT Holdings Limited , a global provider of semiconductor package design, assembly and test services, today announced that it expects revenue for the third quarter of fiscal 2008, ended January 31, 2008, will be approximately $41.7 million, representing an increase of approximately 4 percent above second quarter fiscal 2008 revenue of $40.2 million. It is also above the guidance the Company provided on January 14, 2008 of revenue being inline with the prior quarter.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030414/ASATLOGO)
ASAT cautions that its anticipated revenue results are preliminary and based on the best information currently available and are subject to completion of preparation of the financial statements for the third quarter of fiscal 2008. The Company will hold a conference call to discuss its third quarter fiscal 2008 financial results and other related matters at a later date.
The Company will hold a conference call to discuss its third quarter fiscal 2008 financial results and other related matters in late March. Details of the conference call will be distributed at a later date.
The Company separately announced today that its Board of Directors has approved a compensation award to its acting CEO in the form of a warrant exercisable for an aggregate of up to 41.8 million ordinary shares at an exercise price of US$0.01 per share, subject to certain adjustments. The warrant is exercisable with respect to 20.6 million ordinary shares immediately, with the remainder subject to certain vesting or performance criteria.
ASAT Holdings Limited
ASAT Holdings Limited is a global provider of semiconductor package design, assembly and test services. With 19 years of experience, the Company offers a definitive selection of semiconductor packages and world-class manufacturing lines. ASAT's advanced package portfolio includes standard and high thermal performance ball grid arrays, leadless plastic chip carriers, thin array plastic packages, system-in-package and flip chip. ASAT was the first company to develop moisture sensitive level one capability on standard leaded products. Today the Company has operations in the United States, Asia and Europe. For more information, visit http://www.asat.com/.
Safe Harbor
This news release contains statements and information that involve risks, uncertainties and assumptions. These statements and information constitute "forward-looking statements" within the meaning of federal securities laws including Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Such forward-looking statements, including statements regarding expected revenues, liquidity and financial position in our fiscal quarter, our manufacturing capacity and cost structure, our operational efficiencies, our relocation and reorganization costs, our customer retention, growth and expectations, our obtaining additional financing, possible delisting of the Company's securities from Nasdaq, our continuation as a going concern and our capital needs, involve known and unknown risks, uncertainties, assumptions and other factors that could cause the actual performance, financial condition or results of operations of ASAT Holdings Limited to differ materially from those expressed or implied in any forward-looking statement. Investors are cautioned that actual events and results could differ materially from those contained in these statements as a result of a variety of factors, including conditions in the overall semiconductor market and economy, our progress in ramping the new China facility, acceptance and demand for the Company's products and services, continued operational efficiencies, customer retention, growth and expectations, operational and technological risks and revisions to the preliminary unaudited financial results which may occur during preparation of financial statements and disclosures and the preparation of the Company's quarterly report on Form 6-K and annual report on Form 20-F. The risks, uncertainties and other factors also include, among others, our ability to successfully implement our diversification strategy and our long-term growth strategy, our ability to continue to realize operational efficiencies and improvements to our cost structure, and those risks, uncertainties, assumptions and other factors stated in the section entitled "Risk Factors" in our Annual Report on Form 20-F filed with the United States Securities and Exchange Commission on October 15, 2007 and the section entitled "Risk Factors" in our quarterly reports on Form 6-K filed with the United States Securities and Exchange Commission. The forward-looking statements in this release reflect the current beliefs and expectations of the Company as of this date, and the Company undertakes no obligation to update these projections and forward-looking statements to reflect actual results or events or circumstances that occur after the date of this news release.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20030414/ASATLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
ASAT Holdings Limited
CONTACT: Jim Fanucchi of Summit IR Group Inc., +1-408-404-5400, ir@asat.com, for ASAT Holdings Limited
Web site: http://www.asat.com/
Brocade and BlueArc Partner to Simplify File Management in Distributed, Heterogeneous IT EnvironmentsBlueArc Provides Industry-Leading File Virtualization, Migration, and Replication Solutions with Brocade StorageX
SAN JOSE, Calif., March 4 /PRNewswire-FirstCall/ -- Brocade(R) , a leader in data center networking solutions that help enterprises connect and manage their information, and BlueArc(R) Corporation, a market leader in scalable, high-performance unified network storage, today announced a reseller agreement whereby BlueArc will resell the Brocade StorageX(R) file virtualization and management software solution. Through the agreement, BlueArc will offer its customers the industry-leading Brocade StorageX solution for file virtualization, migration, and replication. Brocade StorageX solves today's most pressing file management challenges in distributed heterogeneous environments, including migration, consolidation, remote office data management, centralized backup, business continuity, and disaster recovery.
"As the number and size of files continue to grow, customers need more efficient and cost-effective file management," said Don Jaworski, Vice President and General Manager of the Brocade Files Division. "The addition of Brocade StorageX to the BlueArc Titan portfolio provides BlueArc customers with a best-in-class solution to help them simplify the management of their ever-increasing amounts of file data."
With Brocade StorageX, BlueArc will be able to expand its portfolio and offer an end-to-end solution with the capability to virtualize heterogeneous file systems and present a consolidated view of all enterprise files. BlueArc customers who deploy Brocade StorageX will gain benefits such as:
-- Increased administrator and end-user productivity by automating key
data management tasks, including migration, consolidation, and
replication
-- Improved business continuity with transparent failover of user access
to replicated file data at a secondary site in the event of an outage
or disaster
-- Centralized backup for remote offices, leading to improved file data
protection and availability
"Brocade StorageX enables centralized management of file data in heterogeneous, distributed IT environments," said Steve Daheb, Vice President of Marketing and Business Development, BlueArc. "By combining Brocade StorageX with BlueArc's Titan 3000 platform, our customers will be able to more efficiently consolidate, migrate, and manage their growing amounts of file data, while enabling operational flexibility and improving IT efficiency."
About Brocade
Brocade is a leading provider of data center networking solutions that help organizations connect, share, and manage their information in the most efficient manner. Organizations that use Brocade products and services are better able to optimize their IT infrastructures and ensure compliant data management. For more information, visit the Brocade Web site at http://www.brocade.com/ or contact the company at info@brocade.com.
About BlueArc
BlueArc is a leading provider of high-performance unified network storage systems to enterprise markets, as well as data-intensive markets, such as electronic discovery, entertainment, federal government, higher education, Internet services, oil and gas, and life sciences. BlueArc products support both network attached storage, or NAS, and storage area network, or SAN, services on a converged network storage platform.
BlueArc enables companies to expand the ways they explore, discover, research, create, process, and innovate in data-intensive environments. BlueArc products replace complex and performance-limited products with high- performance, scalable, and easy-to-use systems capable of handling the most data-intensive applications and environments. Further, BlueArc believes that its energy-efficient design and its products' ability to consolidate legacy storage infrastructures dramatically increases storage utilization rates and reduces customers' total cost of ownership. Information about BlueArc solutions and services can be found at http://www.bluearc.com/.
Brocade, Fabric OS, File Lifecycle Manager, MyView, and StorageX are registered trademarks and the Brocade B-wing symbol, DCX, and SAN Health are trademarks of Brocade Communications Systems, Inc., in the United States and/or in other countries. All other brands, products, or service names are or may be trademarks or service marks of, and are used to identify, products or services of their respective owners.
Brocade
CONTACT: Kathryn Craig, +1-832-230-2249, kcraig@brocade.com, or Alex Lenke, +1-408-333-6758, alenke@brocade.com, both of Brocade; or Ian Yellin of Ogilvy PR, +1-415-677-2714, ian.yellin@ogilvypr.com, for Brocade
Web site: http://www.brocade.com/ http://www.bluearc.com/
Institute for Supply Management(TM) Signs Exclusive Test Delivery Contract With Pearson VUE
BLOOMINGTON, Minn., March 4 /PRNewswire/ -- Pearson VUE, the electronic certification and licensure testing business of Pearson, announced today that it has signed a long-term contract with the Institute for Supply Management(TM) (ISM) to provide certification exam services. The new ISM certification exam, the Certified Professional in Supply Management (CPSM), will be delivered exclusively through international Pearson VUE(R) Authorized Test Center Select locations, as well as company-owned and -operated Pearson Professional Centers around the world.
Institute for Supply Management(TM) (ISM) was founded in 1915 and is one of the most respected and largest supply management associations in the world. As a leader in supply management, ISM developed the new CPSM certification to reflect the expanded education, skills and experience needed to be a successful supply management professional. The CPSM qualification also addresses the realities of supply management, workplace complexities including globalization, greater use of technology, and expanded competencies that supply management professionals employ to drive value in their organizations. The CPSM requires more formal educational achievement and higher levels of competencies than previous designations.
"Our partnership with Pearson VUE allows ISM to bring a new level of service and security to supply management professionals around the world," said Christina Foster, SPHR, vice president, Diversity and Professional Credentials. "The Pearson VUE Professional Centers and Pearson VUE(R) Authorized Test Centers network gives ISM the global reach the organization needs for growing our new CPSM program."
"We are excited that the Institute for Supply Management has chosen Pearson VUE as its testing partner," said Robert Whelan, president, Pearson VUE. "ISM will be able to achieve the global reach and responsiveness their program requires by launching their new certification program with Pearson VUE."
About Pearson VUE
Pearson VUE (http://www.pearsonvue.com/) is the global leader in electronic testing for regulatory and certification boards, providing a full suite of services from test development to test delivery to data management. Pearson VUE offers exams through the world's largest network of test centers in 162 countries, providing testing services for information technology, academic, government and professional clients. Pearson VUE acquired the former Promissor in 2006, thereby extending its leadership in the certification market. The company's innovative technology offers the highest levels of security and program control, while its commitment to service provides clients and individual test takers with an unmatched testing experience.
Pearson VUE is a business of Pearson , the international media company, whose businesses include the Financial Times Group, Pearson Education and the Penguin Group.
About ISM
As the largest supply management institute in the world, the mission of Institute for Supply Management(TM) (ISM) is to lead supply management. By executing and extending its mission through education, research, standards of excellence, influence building and information dissemination -- including the renowned monthly ISM Report On Business(R) -- ISM continues to extend the global impact of supply management. ISM is proud to recognize professional excellence in supply management with awards such as the ISM R. Gene Richter Awards for Leadership and Innovation in Supply Management and the J. Shipman Gold Medal Award. ISM's membership base includes more than 40,000 supply management professionals in 75 countries. Supply management professionals are responsible for trillions of dollars in the purchases of products and services annually. ISM is a member of the International Federation of Purchasing and Supply Management (IFPSM).
Pearson VUE
CONTACT: Mary Beth Mohn, Marketing Director of Pearson VUE, +1-952-681-3000
Web site: http://www.pearsonvue.com/
Atmel and Phoenix Technologies Collaborate to Create Next-generation Security Solutions for PCs
SAN JOSE and MILPITAS, Calif., March 4 /PRNewswire/ -- Atmel(R) Corporation and Phoenix Technologies Ltd. , announced today the integration of Atmel's FingerChip(R) biometric security solutions in Phoenix's FailSafe(TM) and SecureCore Pre-boot Authentication (PBA) products.
This first cooperative design effort between the two industry leaders provides for significantly stronger multifactor authentication and enhanced security and is designed to bring superior security solutions including theft-deterrence and tracking for mobile PCs. Phoenix FailSafe will enable secure, remote tracking of fingerprint sensor data in the event of laptop theft/loss. SecureCore PBA integrated with Atmel's FingerChip Biometric Solutions provides for Biometric User Authentication at the preboot level, providing higher levels of security, since fingerprints demand a user's presence and cannot be shared, stolen or written down.
Atmel offers a very high performance, robust, and competitive range of fingerprint-based biometric solutions for PC platforms, based on Atmel's patented FingerChip Fingerprint sensors. These solutions offer industry leading image quality, biometric performance and security. Phoenix SecureCore PBA requires a user to authenticate identity before the computer boots up. It also enables user authentication from core systems software (also known as BIOS or firmware) to the operating system directly, to achieve single sign-on into the Windows(R) O/S environment.
"Combining FingerChip solutions with the Phoenix products provides an added layer of security which is vital for many enterprise and consumer markets demanding increased security and privacy for stored data and logical access," said Bruno Charrat, Director for Atmel Biometrics Business Unit. "Our collaboration with Phoenix Technologies ensures the highest level of secure authentication -- an increasingly important factor for any PC user. Moving forward, we expect to see other collaborative initiatives by Atmel and Phoenix, dedicated to bringing the best-in-class security solutions to the PC market."
"Our work with Atmel to integrate their fingerprint sensors in our FailSafe theft-deterrence platform enables an additional layer of tracking methodology for mobile PCs. We not only want to provide critical next-generation functionality to our PC OEM customers but also embed certain features that will deter laptop theft," said Surendra Arora, Vice President of Business Development at Phoenix Technologies. "Additionally, our PBA collaboration with Atmel will ensure that our EFI and UEFI-based SecureCore BIOS continues its feature-set dominance."
About Atmel
Atmel is a worldwide leader in the design and manufacture of microcontrollers, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components. Leveraging one of the industry's broadest intellectual property (IP) technology portfolios, Atmel is able to provide the electronics industry with complete system solutions focused on consumer, industrial, security, communications, computing and automotive markets.
About Phoenix Technologies
Phoenix Technologies Ltd. is the global market leader in system firmware that provides the most secure foundation for today's computing environments. The PC industry's top builders and specifiers trust Phoenix to pioneer open standards and deliver innovative solutions that will help them differentiate their systems, reduce time-to-market and increase their revenues. The Company's flagship products, AwardCore, SecureCore, FailSafe and HyperSpace, are revolutionizing the PC user experience by delivering unprecedented security, reliability and ease-of-use. The Company established industry leadership with its original BIOS product in 1983, has 155 technology patents and 139 pending applications, and has shipped in over one billion systems. Phoenix is headquartered in Milpitas, California with offices worldwide. For more information, visit http://www.phoenix.com/.
(C) 2008 Atmel Corporation. All Rights Reserved. Atmel(R), logo and combinations thereof, FingerChip(R), and others are registered trademarks or trademarks of Atmel Corporation or its subsidiaries. Other terms and product names may be trademarks of others.
Atmel Press Contacts:
Nancy Moore, Marketing Communications Manager
Tel: +1-719-540-3262, Email: nmoore@cso.atmel.com
Helen Perlegos, Public Relations
Tel: +1-408-487-2963, Email: hperlegos@atmel.com
Phoenix Technologies Press Contacts:
Shauli Chaudhuri, Phoenix Technologies
Tel: +1-408-570-1060
E-mail: public_relations@phoenix.com
Cedric Vanhaver, GlobalFluency/Neale-May for Phoenix Technologies
Tel: +1-650-433-4154
Email: phoneix@globalfluency.com
Atmel Corporation
CONTACT: Nancy Moore, Marketing Communications Manager, +1-719-540-3262, nmoore@cso.atmel.com, or Helen Perlegos, Public Relations, +1-408-487-2963, hperlegos@atmel.com, both of Atmel Corporation; or Shauli Chaudhuri of Phoenix Technologies, +1-408-570-1060, public_relations@phoenix.com; or Cedric Vanhaver of GlobalFluency|Neale-May, +1-650-433-4154, phoneix@globalfluency.com, for Phoenix Technologies
Web site: http://www.atmel.com/ http://www.phoenix.com/
CADCOMMS Relies on Endeavors for On-Demand Application Delivery
IRVINE, California and LONDON, March 4 /PRNewswire/ --
- Cambodia Advance Communication Company Chooses AppExpress to Provide
Internal Users with On-Demand Access to Applications
Endeavors Technologies, the pioneer in application streaming and
virtualization technology, and its parent company, Tadpole Technology plc,
today announced that Cambodia Advance Communication Company (CADCOMMS) has
chosen AppExpress to provide its employees with application access.
CADCOMMS recently completed a successful proof-of-concept project and is
now deploying AppExpress to provide employees with on-demand access to
Microsoft Project, Visio and other productivity applications.
"CADCOMMS also evaluated Softgrid and undertook a two-month pilot program
to test our technology," said Peter Bondar, CEO at Endeavors Technologies.
"They found that AppExpress provided a more robust and reliable licensing
model which better met their concurrent licensing requirements, resulting in
more-efficient licensing utilization and associated cost savings."
About AppExpress
AppExpress is the leading application deployment and management solution
that enables the rapid deployment of software through the Internet or across
a corporate network. Applications run on the desktop without code
modification, yet perform as if natively installed, regardless of whether the
desktop is connected to the Internet. The solution also provides
organizations with strong anti-piracy and license management control
features.
About Endeavors Technologies
Endeavors Technologies creates, develops and markets innovative
application virtualization and streaming technologies that allow servers to
stream pc-based applications to client computers where they are subsequently
executed. These "next stage" technologies replace thin client computing
paradigms. Application virtualization and streaming enables organizations to
reduce the total cost of ownership while improving service levels,
simplifying the management of computers and improving security and
reliability. This innovative application distribution methodology provides
companies with new revenue opportunities while reducing IT costs and
increasing user productivity. Endeavors Technologies is a pioneer and thought
leader with eight patents granted and 25 pending, including the first patents
granted for streaming applications. Endeavors Technologies provides its
solutions through licensing, royalty and technology transfer models. Visit
http://www.endeavors.com for more details.
About Tadpole Technology plc
Tadpole Technology plc (LSE: TAD) is a company in transition. The company
was formed in 1983 as a developer and manufacturer of high performance
portable workstations. In 2003, Tadpole transitioned to a software group
focused on two sectors; geospatial solutions and system level software
technologies. In mid 2007, Tadpole made a strategic decision to focus
exclusively on the application streaming and virtualization marketplace and
in November 2007 announced the sale of its geospatial interests. The company
established Endeavors Technologies Ltd. as its European trading arm,
complementing the existing Endeavors Technologies Inc. in the US. Subject to
shareholder approval, Tadpole Technology plc intends to rebrand itself under
the Endeavors' name to reflect its focus on a single brand and product set.
For information on Tadpole Technology plc, visit
http://www.tadpoletechnology.com
Web site: http://www.endeavors.com
Endeavors Technologies
Jan Tarzia, +1-949-296-3998, jtarzia@endeavors.com, or Peter Bondar, +44-1845501202, pbondar@endeavors.com, both of Endeavors Technologies
Titanium Group Implements Biometric Sign-On Infrastructures for Hong Kong Immigration DepartmentCompany's Biometric Sign-On Infrastructures (BSI) enhances and tightens security control of e-Passport system in Immigration Department of Hong Kong SAR Government
SAN JOSE, Calif., March 4 /PRNewswire-FirstCall/ -- Titanium Group, Ltd. (BULLETIN BOARD: TTNUF) , a leading biometric and security solutions provider announced a contract was awarded in October 2006 to develop Biometric Sign-on Infrastructure (BSI) using Titanium's Face Recognition Software for the Hong Kong Immigration Department (ImmD). This biometric sign-on solution with audit trail uses human face authentication combined with traditional user ID and password authentication for securing ImmD's Electronic Passport System (e-Passport).
"We are glad to have this exciting opportunity to vastly implement our sophisticated face recognition technology in ImmD for the biometric sign-on infrastructure. Through this challenging implementation, both our hardware and software for face authentication are proven to enhance the security control and maximize the usability. It also strengthens our position and creditability in delivering the similar solutions in the region. This also reflects the continual emergence of biometric technologies in identity management to enhance the traditional means such as password and/or smart card, allowing us to extend our position of leadership within the facial recognition market," said Billy Tang, CEO of Titanium.
About Titanium Group:
Titanium Group, Ltd. (http://www.titanium-tech.com/), and it's wholly owned subsidiary Titanium Technology, is a leading biometric and security solutions provider featuring its proprietary and patented automated Face Recognition Systems (AFRS). Titanium's AFRS products capture human face images electronically, input the facial images into searchable files (faceprint) and, in just seconds, accurately compare the facial images to a database containing millions of faces. These cutting-edge products reduce administration cost, enhance security, and significantly increase overall productivity. Titanium's products are distributed worldwide, either directly or through resellers or OEM partners, to governments, law enforcement agencies, gaming companies, and other organizations. The Company's clients include: IBM, Amway, People's Bank of China, and Governments of Mainland China, Hong Kong, and Turkey, etc.
Safe Harbor Provisions
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Titanium Group, Ltd. (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief or current expectations, estimates or projections of the Company, its Directors or its Officers about the Company and the industry in which it operates, and are based on assumptions made by management. Forward looking statements include without limitation statements regarding: (a) the Company's strategies regarding growth and business expansion, including future acquisitions; (b) the Company's financing plans; (c) trends affecting the Company's financial condition or results of operations; (d) the Company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the Company's ability to respond to changes in customer demand and regulations. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.
Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the Company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the Company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix and the geographic mix of sales.
The Company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions.
Titanium Group, Ltd.
CONTACT: Randy Sasaki, President of Trout Trading Company, +1-303-671-0270, rsasaki@consultant.com, for Titanium Group, Ltd.
Web site: http://www.titanium-tech.com/
Imation Extends Availability of Memorex Brand Consumer Electronics to U.S. Commercial MarketCompany Leverages Significant Channel Presence to Increase Reach of Audio and Video Accessories, Digital Picture Frames, LCD TVs and More
OAKDALE, Minn., March 4 /PRNewswire-FirstCall/ -- Imation Corp. today announced the expanded availability of its popular Memorex brand of consumer electronics, already available at the nation's largest retailers, through U.S. commercial distributors and online resellers. Beginning in March, Imation's Memorex-branded consumer electronics -- including audio and video devices, digital picture frames, and LCD televisions -- will be available for the first time through commercial distribution channels. This additional route to market builds on Imation's marketing, distribution and technical expertise and reinforces Imation's ongoing transition to a brand and product management company.
"The lines between the consumer, prosumer and home office user have blurred as shoppers increasingly purchase electronics through a variety of channels, from brick and mortar to e-tail to office superstore," said Keith Schwartz, director, North America Sales and Marketing, Commercial Division of Imation Corp. "The breadth of products in our Memorex-brand consumer electronics portfolio that meet the needs of small businesses and home consumers makes the extension of the line through these new channels a natural evolutionary step that underscores our corporate strategy."
Initial commercial distribution partners for Memorex consumer electronics include leading technology and storage distributors Accutech, CDW, D&H Distributing Co., DBL Distributing, Dexon Digital Storage, and Ingram Micro, as well as several online resellers.
Memorex consumer electronics include MP3, CD and digital audio players; iPod speaker systems; boom boxes; clock radios and CD/AM-FM radios; set-top and portable DVD players; digital picture frames; and LCD televisions.
Memorex is one of the best known names in the U.S. consumer electronics industry. Memory makers and memory keepers turn to Memorex for simple and stylish products that capture, save and share precious moments in music, video and pictures. For additional information about Memorex brand consumer electronics, please visit http://www.memorexelectronics.com/.
About Imation Corp.
Imation Corp. is the only company in the world solely focused on the development, manufacture and supply of removable data storage products spanning the four pillars of magnetic, optical, flash and removable hard disk storage. With more than 50 years of data storage leadership beginning with the development of the world's first computer tape, in 2006 Imation proudly marked its 10th anniversary as an independent company. In addition to the Imation brand, Imation Corp.'s global brand portfolio includes the Memorex brand, one of the most widely recognized names in the consumer electronics industry, famous for the slogan, "Is it live or is it Memorex?" Imation is also the exclusive licensee of the TDK Life on Record brand, one of the world's leading recording media brands. And as co-developer of Nickelodeon's Npower brand of consumer electronics, Imation helps empower kids of all ages to use the latest technology. Additional information about Imation and its brands is available at http://www.imation.com/ or by calling 1-888-466-3456.
Imation, the Imation logo, Memorex, 'Is it live or is it Memorex?' are trademarks of Imation Corp. and its subsidiaries. The TDK Life on Record logo is a trademark of TDK Corporation. All other trademarks are property of their respective owners.
Imation Corporation
CONTACT: Mary Rawlings-Taylor of Imation Corporation, +1-651-704-6796, mjrawlings-taylor@imation.com; or Lisa Grau, +1-760-635-8640, lgrau@brodeur.com, or Jamie Ernst, +1-210-495-5757, jernst@brodeur.com, both of Brodeur for Imation Corporation
Web site: http://www.imation.com/ http://www.memorexelectronics.com/
AT&T Answers the Need for Speed in Nassau CountyCompany Expands Wireless Broadband Network to Deliver Supercharged Access to Mobile Applications and Interactive Content
HEMPSTEAD, N.Y., March 4 /PRNewswire-FirstCall/ -- AT&T Inc. has announced that customers who live and travel through Nassau County now have more options in how, when and where they can access the Internet, use e-mail or view a variety of entertainment services.
AT&T's 3G network in Nassau County now includes Lake Success, New Hyde Park, Valley Stream, Garden City, Hempstead, Old Westbury, Merrick, Woodbury, Hicksville, Massapequa, Great Neck, North Hills and Glen Cove. The 3G network connects to the mobile broadband network already available in Queens, Brooklyn, Bronx, Manhattan and Staten Island. The blazing-fast high speed network is also available along the Long Island Railroad in Nassau County, the Route 110 corridor and in the Hamptons in Suffolk County.
Since 2005, the company has invested $1.2 billion on wireless network enhancements to expand coverage, add capacity and expand its 3G network on Long Island and in New York City, Westchester and New Jersey. Nationally, AT&T has spent $18 billion on wireless network upgrades during that same time period.
"We are staying ahead of the growing demand for fast, dependable wireless broadband access to feature-rich Internet content, such as streaming video," said Tom DeVito, vice president and general manager for AT&T's wireless unit in New York and New Jersey. "Our goal is to ensure that AT&T customers have the very best wireless experience possible -- which means unmatched coverage and quality of service."
Benefits of the AT&T 3G Network
AT&T's 3G network uses HSDPA/UMTS (High Speed Downlink Packet Access/Universal Mobile Telephone System) technology. The company's 3G network is also based on the GSM (Global Systems for Mobile Communications) standard, the most widely used wireless technology in the world. AT&T is aggressively rolling out its 3G wireless network across the United States. The network is now available in more than 265 leading U.S. markets, with more than 80 additional cities to be added in 2008.
The 3G network also provides the simultaneous delivery of voice and data -- a capability not offered by all wireless providers. An example of a 3G service is AT&T Video Share, which enables users to share live video over wireless phones while carrying on a voice call. A 3G wireless broadband network allows customers to take advantage of the cutting-edge capabilities offered by the growing number of next-generation devices on the market, such as the Samsung BlackJack(TM) II, Pantech Duo or LG Shine(TM).
Consumers have access to razor-sharp clips through CV, an on-demand streaming video service, and can quickly download games, pictures and the latest music, entertainment, news and weather through MEdia Net, the company's mobile Internet portal.
Mobile business users enjoy the speed and freedom of the combination of AT&T's 3G network and LaptopConnect -- which simply requires a LaptopConnect card or a laptop with embedded 3G service, software and an AT&T data plan. The combination is ideal for customers who want to increase business productivity and need to quickly download large files and run corporate applications or access the Internet.
When customers leave AT&T's growing 3G service footprint, they automatically convert to AT&T's EDGE (Enhanced Data Rate for GSM Evolution) network without dropping the call or data connection. The company's EDGE network is the largest high speed wireless data network in the country and is available in more than 13,000 cities and towns and along 40,000 miles of highways and secondary roads.
Customers who use a GSM phone, such as those offered by AT&T, can take their device with them when they travel abroad and benefit from worldwide access enabled by the GSM standard. AT&T subscribers have the ability to browse the Web and perform other data functions in more than 144 countries, and they can make a phone call in 200 countries and territories or on 75 cruise ships worldwide.
Note: This AT&T release and other news announcements are available as part of an RSS feed at http://www.att.com/rss.
About AT&T
AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.
(C) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. For more information, please review this announcement in the AT&T newsroom at http://www.att.com/newsroom.
AT&T Inc.
CONTACT: Ellen Webner of AT&T Inc., +1-973-637-9357, cell, +1-201-532-7292, ellen.webner@att.com
Web site: http://www.att.com/
SAIC Delivers State-of-the-Art Test Facility to NATOFacility Conducts Integration Testing for Missile Defense Program
SAN DIEGO and MCLEAN, Va., March 4 /PRNewswire-FirstCall/ -- Science Applications International Corporation today announced that it has initiated operations of a state-of-the-art integration and test facility for the North Atlantic Treaty Organization (NATO), a key milestone in the organization's effort to help create a ballistic missile defense capability. The facility, located in The Hague, Netherlands, conducted its initial integration testing with two allied nations -- to include initial hardware in the loop testing -- nine months ahead of schedule.
Known as the Integration Test Bed, the facility is run by NATO's Active Layered Theater Ballistic Missile Defense (ALTBMD) Program Office and was developed by a multinational team led by SAIC. The test bed is a major component of a multiyear NATO project to integrate the existing missile defense programs of U.S. and allied NATO nations, helping ensure the protection of deployed forces against short- and medium-range ballistic missiles. The project involves 10 companies from six NATO member nations, and the final system will complement NATO's current capability against aircraft, unmanned aerial vehicles and other aerial threats. SAIC served as the prime contractor under a $110 million systems engineering and integration support contract awarded by NATO in 2006.
The purpose of the test bed is to experiment with and validate the systems architecture for integrating the various NATO and national components of the NATO ALTBMD system, which includes early warning sensors, radar and weapons systems from NATO member countries, as well as NATO-provided command and control and communications capabilities.
Before the opening of the test bed, SAIC thoroughly exercised the test bed, and NATO conducted an acceptance audit verifying that the facility met all contractual requirements. In January, nine months ahead of schedule, milestone tests were conducted in conjunction with Dutch and U.S. facilities, missile defense laboratories, and operational systems in which European and U.S. systems successfully displayed the ongoing events during a simulated ballistic missile attack against NATO forces.
"The opening of the test bed culminates a productive and rewarding year for the highly skilled and dedicated transatlantic team that SAIC has the privilege to lead on this contract," said Beverly Seay, SAIC senior vice president and business unit general manager. "The test bed provides the alliance with enhanced capabilities and the technology it requires to develop optimal ballistic missile defense capability solutions."
About SAIC
SAIC is a leading provider of scientific, engineering, systems integration and technical services and solutions to all branches of the U.S. military, agencies of the Department of Defense, the intelligence community, the U.S. Department of Homeland Security and other U.S. Government civil agencies, as well as to customers in selected commercial markets. With approximately 44,000 employees in more than 150 cities worldwide, SAIC engineers and scientists solve complex technical challenges requiring innovative solutions for customers' mission-critical functions. SAIC had annual revenues of $8.3 billion for its fiscal year ended January 31, 2007.
SAIC: FROM SCIENCE TO SOLUTIONS(R)
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward- looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2007, and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
Melissa Koskovich, McLean Laura Luke, McLean
703/676-6762 703/676-6533
koskovichm@saic.com laura.luke@saic.com
SAIC
CONTACT: Melissa Koskovich, +1-703-676-6762, koskovichm@saic.com, or Laura Luke, +1-703-676-6533, laura.luke@saic.com, both of SAIC
Web site: http://www.saic.com/
AWE and Jacobs Sign Revised Contract for Major Projects
PASADENA, Calif., March 4 /PRNewswire-FirstCall/ -- Atomic Weapons Establishment, Plc and Jacobs Engineering Group Inc. , are pleased to announce that they have reached agreement on an Integrated Management Team support contract at AWE's Aldermaston and Burghfield sites in England.
Jacobs' six-year contract provides personnel, processes, and best practices to complement AWE's world-class project delivery capability to support ongoing capital projects at the sites.
The revised contract provides Jacobs with incentives aimed at securing continuous improvement and optimal value for money on each individual project.
In announcing the new agreement, Director of Business Management and Finance for AWE Jason Smith said, "Jacobs has proven to be a real asset to our continuous improvement initiatives and we are pleased to renew and strengthen our relationship with them."
Jacobs Group Vice President Allyn Taylor stated, "Jacobs is pleased to continue its support of this vital defense mission. Our expertise in safety, project delivery, and value creation is ideally suited to AWE's objectives."
AWE plc operates the Atomic Weapons Establishment on behalf of the U.K. Ministry of Defence, manufacturing and maintaining the warheads for the UK's nuclear deterrent.
Jacobs, with over 54,000 employees and about $9.0 billion in revenues, provides technical, professional, and construction services globally.
Any statements made in this release that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2007 Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We also caution the readers of this release that we do not undertake to update any forward-looking statements made herein.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051021/LAJACOBSEGLOGO)
For additional information contact:
Mary Bloom
626.578.6992
Photo: http://www.newscom.com/cgi-bin/prnh/20051021/LAJACOBSEGLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Jacobs Engineering Group Inc.
CONTACT: Mary Bloom of Jacobs Engineering Group Inc., +1-626-578-6992
Web site: http://www.jacobs.com/
Jacobs Receives General Engineering Services Contract From the Florida Department of Transportation
PASADENA, Calif., March 4 /PRNewswire-FirstCall/ -- Jacobs Engineering Group Inc. announced today that it received a general engineering services contract from the Florida Department of Transportation (FDOT) to provide professional services support to the Office of the Chief Engineer for the development, operation, maintenance, and construction of the state highway system.
Officials did not disclose the value of the 5-year contract.
Jacobs will provide technical and professional personnel to function as an extension of the Department's staff on an as-needed basis, providing services to support design, right-of-way, traffic engineering and operations, construction, maintenance, and materials activities.
In making this announcement, Jacobs Group Vice President Kevin McMahon stated, "We are pleased to continue our long-standing and successful relationship with the FDOT. We are excited to partner with the Office of the Chief Engineer and to help develop and implement effective solutions that continually improve Florida's transportation system."
Jacobs, with over 54,000 employees and about $9.0 billion in revenues, provides technical, professional, and construction services globally.
Any statements made in this release that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2007 Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We also caution the readers of this release that we do not undertake to update any forward-looking statements made herein.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051021/LAJACOBSEGLOGO)
For additional information contact:
Mary Bloom
626.578.6992
Photo: http://www.newscom.com/cgi-bin/prnh/20051021/LAJACOBSEGLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Jacobs Engineering Group Inc.
CONTACT: Mary Bloom of Jacobs Engineering Group Inc., +1-626-578-6992
Web site: http://www.jacobs.com/
Trina Solar Announces Fourth Quarter and Fiscal Year 2007 Results
CHANGZHOU, China, March 4 /Xinhua-PRNewswire-FirstCall/ -- Trina Solar Limited ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced its financial results for the fourth quarter and fiscal year 2007.
Fourth Quarter 2007 Highlights
-- Total net revenues increased 22.8% sequentially and 161.6% year-over-
year to $101.4 million
-- Gross profit increased 66.3% sequentially and 205.7% year-over-year to
$27.6 million
-- Net income increased 116.8% sequentially and 242.2% year-over-year to
$15.7 million
-- Solar module shipments increased 13.0% to 23.91 MW from 21.15 MW in the
third quarter of 2007 and 166.3% from 8.98 MW in the fourth quarter of
2006
"We are extremely pleased with our results in the quarter to cap a year of many important achievements. We met or exceeded our annual 2007 targets for product shipment, revenue and net income, as the benefits of our fully integrated business model increased our bottom line," said Trina Solar's Chairman and CEO, Jifan Gao. "During the quarter we have tripled our in-house cell production to meet our integrated capacity expansion targets and reached historical highs in our in-house cell and module efficiencies, which combined drove significant margin expansion. In 2008, we continue to focus efforts to lower our module manufacturing costs through constant improvements in cell efficiencies, wafer thickness reduction, and manufacturing process innovation as we increase our production capacity and execute on our technology roadmap. These developments are central to our three core long-term strategies: developing a strong brand in the marketplace, investing continuously in our technology platform and ensuring our low cost position through our vertically integrated model."
During the quarter, the Company achieved the following milestones:
-- Expanded capacity to 150MW for each of ingot, wafer, cell and module
production
-- Successfully ramped four new cell production lines (No. 3, 4, 5, and 6)
-- Increased in-house cell processing proportion from 25% to over 75%
-- Launched commercial production of multicrystalline ingots of up to 420
kg in size
-- Commenced commercial production of 220-watt multicrystalline modules,
based on self-produced 156mm-sized cells
-- Realized in-house cell efficiency rates of up to 17.0% for
monocrystalline-based cells and up to 15.6% for multicrystalline-based
cells
-- Furthered the Company's brand recognition and market share by further
developing sales channels in developing solar markets, including the
Netherlands, Belgium, France, Greece, and Korea.
The geographic breakdown of the Company's sales for the fourth quarter was approximately 56% Spain, 7% Germany, and 16% Italy, thus bringing our full year 2007 geographic breakdown to approximately 34% Germany, 41% Spain, and 19% Italy.
Fourth quarter 2007 Results
Trina Solar's net revenues in the fourth quarter of 2007 were $101.4 million, an increase of 22.8% sequentially and 161.6% year-over-year. Total shipments increased to 23.91 MW, up from 21.15 MW in the third quarter of 2007 and 8.98 MW in the fourth quarter of 2006.
Cost of revenues in the fourth quarter of 2007 was $73.8 million, an increase of 11.8% sequentially and 148.1% year-over-year due to growth of Trina Solar's solar module business.
Gross profit in the fourth quarter of 2007 was $27.6 million, an increase of 66.3% sequentially and 205.7% year-over-year. Gross margin was 27.2% in the fourth quarter of 2007, an increase from 20.1% in the third quarter of 2007 and 23.3% in the fourth quarter of 2006. The sequential and year-over- year increases in gross margin were primarily due to higher module ASP and manufacturing benefits from increased vertical integration.
Operating expenses in the fourth quarter of 2007 were $11.4 million, an increase of 15.8% sequentially and 259.0% year-over-year. The Company's operating expenses were 11.2% of its fourth quarter net revenues, a decrease from 11.9% in the third quarter of 2007 and an increase from 8.2% in the fourth quarter of 2006. The year-over-year increase was primarily due to higher general and administrative ("G&A") expenses and sales and marketing expenses to support the rapid growth of the Company's business. The G&A expense was 6.4% of its fourth quarter revenues, a sequential decrease from 7.2% and an increase from 5.3% in the fourth quarter of 2006. The sequential decrease was due to measures taken by the Company for expense-control while the year-over-year increase was to support the rapid growth of the Company's business. Operating expenses in the fourth quarter of 2007 included approximately $736,000 of share-based compensation expenses.
Operating income in the fourth quarter of 2007 was $16.2 million, an increase of 139.5% sequentially and 177.0% year-over-year. Operating margin was 16.0% in the fourth quarter of 2007, compared to 8.2% in the third quarter of 2007 and 15.1% in the fourth quarter of 2006. The sequential and year- over-year increases in operating margin were due to higher module ASP and manufacturing benefits from increased vertical integration.
Interest expense in the fourth quarter of 2007 was $2.6 million, compared to $2.1 million in the third quarter of 2007 and $1.1 million in the fourth quarter of 2006. The sequential and year-over-year increase were due to additional bank borrowings compared to the third quarter of 2007 and the fourth quarter of 2006 to secure additional silicon materials. Interest Income was $2.4 million in the fourth quarter, compared to $1.5 million in the third quarter and $0.1 million in the fourth quarter of 2006.
The Company recorded an income tax benefit mainly due to tax refund received in the fourth quarter of 2007 relating to the purchase of domestically manufactured equipment.
Net income from continuing operations was $15.5 million in the fourth quarter of 2007, an increase of 119.7% sequentially and 253.8% year-over-year.
Net income was $15.7 million in the fourth quarter of 2007, an increase of 116.8% sequentially and 242.2% year-over-year. Net margin was 15.5% in the fourth quarter of 2007, compared to 8.8% in the third quarter of 2007 and 11.8% in the fourth quarter of 2006. Earnings per ADS in the quarter were $0.62 per fully diluted ADS, up 116.2% sequentially and 124.3% over the fourth quarter of 2006.
Full Year 2007 Results
For the full year 2007, net revenues were $301.8 million, up 163.6% from $114.5 million in 2006. Gross profit for the full year 2007 was $67.9 million, an increase of 126.0% from $30.0 million in 2006. Gross margin was 22.5% in 2007, compared to 26.2% in 2006. Operating income for the full year 2007 was $36.3 million, up 114.4% from $16.9 million in 2006. Operating margin was 12.0% in 2007, compared to 14.8% in 2006. The decline in operating margin in 2007 was primarily due to the lower gross margin in 2007 as a result of lower ASP and higher polysilicon prices. Net income from continuing operations for the full year 2007 was $34.5 million, an increase of 161.9% from 2006, and was due primarily to the growth in sales of the Company's solar module products. Net income for the full year 2007 was $34.9 million, an increase of 180.8% from 2006. Net margin was 11.6% in 2007, compared to 10.8% in 2006. Earnings per ADS for the full year 2007 were $1.47 per fully diluted ADS.
The Company's 4Q and 2007 financial statements are subject to change based on the Company completing its computation of the fair value of foreign exchange derivatives embedded in two of its material long-term silicon supply contracts. Such contracts provide that the purchase price of the silicon to be acquired is denominated in U.S. Dollars, which is not the functional currency of either of the contracting parties. Given the continued strengthening of the RMB against the USD, the Company believes that the ultimate impact would increase the earnings for both 4Q and fiscal 2007. The impact, if material, will be recorded as "Exchange Gain", a non-operating item, in the consolidated income statement.
Financial Condition
As of December 31, 2007, the Company had $59.7 million in cash and cash equivalents, which excludes the Company's restricted cash balance of $103.4 million. The Company's working capital balance was $121.9 million. Total bank borrowings stood at $171.8 million, of which $8.2 million were long term borrowings. Shareholders' equity was $366.6 million, up from $345.5 million at the end of the third quarter 2007.
Operations Outlook for 2008
Presales and Production
As of this date, the Company has contracted 100% and 85% of its first and second half 2008 targeted module production, respectively, representing approximately 90% of its targeted module production from 200MW to 210MW for 2008. The Company also plans to initiate sales in the United States this year, and is in the final process stage to receive its UL certifications. The Company anticipates its geographic breakdown of 2008 sales in its main markets to be approximately 34% Germany, 26% Spain, 18% Italy, 10% Benelux and 5% in the United States.
Silicon Feedstock
The Company has now secured over 80% of its estimated silicon feedstock requirements for 2008, an equivalent of approximately 170MW based on a module production target of 200-210MW of module output.
Capacity Expansion and Technology Roadmap
Trina Solar continues to be on target to meet its fully integrated capacity goal of 350 MW at end of 2008, and will add approximately 50MW of capacity in each quarter in ingot, wafer, cell, and module production value areas.
In the first quarter of 2008 the Company initiated commercial production of 180 micron monocrystalline wafers and cells from a current thickness of 200 microns and multicrystalline-based wafers of 200 microns from a current thickness of 220 microns. The Company expects to produce monocrystalline wafers of 160 microns and multicrystalline wafers of 180 microns by year end.
In 2008 the Company is developing second generation cell technologies to raise its monocrystalline and multicrystalline conversion efficiencies up to 17.5% and 16.0%, respectively. These improvements will result in our module products reaching output power up to 245 watts for monocrystalline and 230 watts for multicrystalline during 2008.
Module Cost Reduction
In the fourth quarter of 2007 the Company's manufacturing cost per watt excluding polysilicon was approximately $1.28 for combined ingot, wafer, cell, and module production. By fourth quarter 2008, we are targeting cost reduction of approximately 18% to reduce these costs to approximately $1.05 per watt. Driven by our technology development, transfer, and manufacturing process improvements, anticipated cost reductions will result from cell conversion improvements, wafer and cell breakage reduction, and production scale advantages.
Polysilicon Project Update
With goals to secure visibility on supply, price, and quality of up to 50% of its long-term polysilicon requirements, the Company is advancing project planning and financing to build and operate a multi-phased polysilicon production facility announced in the fourth quarter of 2007. We are highly confident that the construction of a polysilicon facility is the appropriate strategic direction to enable our vertically integrated platform to drive the necessary cost reductions to secure a sustainable competitive advantage in the global PV module market space.
We have made good progress in several areas in regard to our silicon production project announced in the fourth quarter. In December we announced our strategic development agreement with the Lianyungang Municipality in China's Jiangsu Province, which includes attractive government support in respect of land and electric power. We have also advanced negotiations for long lead time equipment and engineering procurement contractor (EPC) services. Additionally, we have well-progressed our technical and commercial due diligence work for a long term syndicate debt facility associated with the project.
First Quarter and Fiscal Year 2008 Guidance
For the first quarter of 2008, the Company expects to ship between 29 MW to 31 MW of PV modules and has expectations of total net revenues in the range of $112 million to $120 million. The Company believes gross margin for the first quarter will likely be between 23% and 25% and estimates operating margin to range between 13.5% to 15.5% of total net revenues.
For the full year of 2008 the Company expects total net revenues in the range of $770 million to $808 million, with PV module shipments between 200 MW to 210 MW. The Company is expecting gross margin for the year between 23% and 25% and believes operating margin will likely be in the range of 15% to 17% of total net revenues.
Conference Call
The Company will host a conference call at 8:00 a.m. ET on March 4, 2008, to discuss the results for the quarter ended December 31, 2007. Joining Jifan Gao, Chairman and CEO of Trina Solar, will be Sean Shao, Chief Financial Officer, Sean Tzou, Chief Operating Officer, Terry Wang, Senior Vice President of Finance, Andy Klump, Vice President of Business Development, Arturo Herrero, Vice President of Sales and Marketing, and Thomas Young, Director of Investor Relations. To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: +1(888) 552-2116. International callers should dial +1(706)645-9795. Callers in Southern China may also dial 1-0800.1300748. The conference ID for the call is 34931439.
If you are unable to participate in the call at this time, a replay will be available on March 4, at 11:00 a.m. ET, through March 11,at 10:00 a.m. ET. To access the replay, dial +1(800)642-1687 international callers should dial +1(706)645-9291 and enter the conference ID 34931439.
This conference call will be broadcast live over the Internet and can be accessed by all interested parties on Trina Solar's website at http://www.trinasolar.com/ . To listen to the live webcast, please go to Trina Solar's website at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on Trina Solar's website for 90 days.
About Trina Solar Limited
Trina Solar Limited , through its wholly-owned subsidiary Changzhou Trina Solar Energy Co. Ltd, is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is currently one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. This integrated value chain helps to ensure that high quality products can be delivered to its end customers around the globe, including a number of European countries, such as Germany, Spain and Italy. Trina Solar's solar modules provide reliable and environmentally- friendly electric power for residential, commercial, industrial and other applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com/ .
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and marketability of its products; the future trading of the securities of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
- FINANCIAL TABLES FOLLOW -
Trina Solar Limited
Consolidated Statement of Operations
(US dollars in thousands, except ADS and share data)
For the Three Months Ended For the Year Ended
December 31, December 31,
2007 2006 2007 2006
(unaudited) (unaudited) (unaudited)
Net revenues $101,394 $38,766 $301,819 $114,500
Cost of revenues 73,796 29,740 233,905 84,450
Gross profit 27,598 9,026 67,914 30,050
Operating expenses
Selling
expenses 3,860 927 11,019 2,571
General and
administrative
expenses 6,533 2,050 17,817 8,656
Research and
development
expenses 978 190 2,805 1,903
Total operating
expenses 11,371 3,167 31,641 13,130
Operating income 16,227 5,859 36,273 16,920
Exchange gain or
(loss) (1,440) -- (1,999) --
Interest expenses (2,636) (1,069) (7,551) (2,137)
Interest income 2,362 122 4,810 261
Other income
(expenses) 502 3 1,268 (82)
Income before
income taxes 15,015 4,915 32,801 14,962
Income tax
(expenses) benefit 509 (527) 1,707 (1,788)
Net income from
continuing
operations 15,524 4,388 34,508 13,174
Net income (loss)
from discontinued
operations 162 196 368 (753)
Net income $15,686 $4,584 $34,876 $12,421
Earnings per ordinary
share from continuing
operations
Basic 0.006 0.003 0.015 0.010
Diluted 0.006 0.003 0.015 0.010
Earnings per ADS
from continuing
operations
Basic 0.622 0.271 1.475 0.978
Diluted 0.612 0.264 1.455 0.959
Earnings per
ordinary share
Basic 0.006 0.003 0.015 0.009
Diluted 0.006 0.003 0.015 0.009
Earnings per ADS
Basic 0.628 0.283 1.490 0.922
Diluted 0.619 0.276 1.470 0.904
Weighted average
ordinary shares
outstanding
Basic 2,495,985,720 1,152,016,485 2,339,917,459 1,038,316,484
Diluted 2,535,166,603 1,181,277,275 2,371,963,822 1,058,483,593
Weighted average
ADS outstanding
Basic 24,959,857 11,520,165 23,399,175 10,383,165
Diluted 25,351,666 11,812,773 23,719,638 10,584,836
Trina Solar Limited
Consolidated Balance Sheet
(US dollars in thousands)
December 31, December 31,
2007 2006
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents $59,696 $93,380
Restricted cash 103,375 5,004
Inventories 58,548 32,230
Accounts receivable, net 72,323 29,353
Other receivables 3,063 1,228
Advances to suppliers 43,567 34,606
Value-added tax recoverable 1,417 1,035
Deferred tax assets 380 613
Current assets of discontinued operations 33 353
Total current assets 342,402 197,802
Property, plant and equipment 197,124 51,419
Intangible assets, net 5,462 2,372
Advances to suppliers - long-term 53,737 --
Deferred tax assets 1,095 152
TOTAL ASSETS $599,820 $251,745
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term borrowings, including
current portion of long-term debt $163,563 $71,409
Accounts payable 42,691 9,147
Accrued expenses 10,255 5,029
Advances from customers 2,371 1,200
Income tax payable 1,406 850
Current liabilities to be disposed 199 434
Total current liabilities 220,485 88,069
Long-term bank borrowings 8,214 5,122
Accrued warranty costs 4,486 1,400
Total liabilities 233,185 94,591
Ordinary shares 26 21
Additional paid-in capital 304,878 139,671
Retained earnings 50,466 15,622
Other comprehensive income 11,265 1,840
Total shareholders' equity 366,635 157,154
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY $599,820 251,745
For more information, please contact:
Trina Solar Limited
Sean Shao, CFO
Tel: +86-519-8548-6752 (Changzhou)
Thomas Young, Director of Investor Relations
Tel: +86-519-8548-6752 (Changzhou)
Email: ir@trinasolar.com
CCG Elite Investor Relations
Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Ed Job, CFA
Tel: +1-646-213-1914
Email: ed.job@ccgir.com
Trina Solar Limited
CONTACT: Trina Solar Limited - Sean Shao, CFO, +86-519-8548-6752 (Changzhou); or Thomas Young, Director of Investor Relations, +86-519-8548- 6752 (Changzhou), or ir@trinasolar.com; CCG Elite Investor Relations - Crocker Coulson, President, +1-646-213-1915, or crocker.coulson@ccgir.com; or Ed Job, CFA, +1-646-213-1914, or ed.job@ccgir.com, both for Trina Solar Limited
Web Site: http://www.trinasolar.com/
Xilinx Virtex-5 65nm FPGA & Virtex-4 Reference Design Named Finalists in EE Times ACE Award Competition
SAN JOSE, Calif., Mar. 4 /PRNewswire/ -- Xilinx, Inc. , the world's leading supplier of programmable logic solutions, today announced that its flagship Virtex(TM)-5 LX FPGA and Virtex-4 FPGA-based De-serializer Reference Design have been named finalists in the EE Times ACE Awards competition in the Ultimate Products category for logic interface and programmable logic integrated circuits.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020822/XLNXLOGO)
The EE Times ACE Awards is an annual awards gala that celebrates the creators of technology who demonstrate leadership and innovation in the global embedded industry and shape the world we live in. The ACE Award winners will be announced at the gala event on April 15, 2008.
"These finalists represent the top-notch innovators and innovations within the embedded industry," said EE Times Editor-in-Chief Junko Yoshida. "The panel of judges evaluated hundreds of leading companies with breakthrough technologies for this competition and selected only those who we felt really exemplified growth, innovation and commitment to furthering the technology and the industry."
The Ultimate Products of the Year awards are given to the most significant product introduced in the last 12 months in each of seven categories, as determined by large-scale peer review. Finalists in each category were chosen by qualified readers of EE Times and eeProductCenter.com on a quarterly basis via electronic balloting, from a list of nominees submitted to readers by expert editors with accompanying editorial reviews. The top two ranking products from each category over the past four quarters automatically qualify as finalists. Electronic ballots will be sent to frequent responders to select the EE Times ACE Award winner in each category from the field of finalists.
About EE Times ACE Awards
The EE Times ACE Awards honor the innovators who create embedded technology and demonstrate leadership in the global industry. To purchase tickets for the ACE Awards Gala visit: http://www.eetimes-ace.com/AwardsGala.htm. Tickets can be purchased at the EE Times ACE Awards Ticket Desk located in the lobby of the San Jose Convention Center. The gala begins April 15, 2008, includes a networking cocktail reception, three-course sit-down dinner, multi-media awards presentation ceremony, and entertainment by late night talk show host Craig Ferguson.
About Xilinx Virtex-4 FPGAs
The Xilinx Virtex-4 family of domain-optimized FPGAs delivers more options, higher performance and lower power than any other FPGA family in production today. With more than 100 technical innovations, the Virtex-4 family consists of 17 devices and three domain-optimized platforms: Virtex-4 LX FPGAs for logic-intensive designs, Virtex-4 SX FPGAs for high-performance signal processing, and Virtex-4 FX FPGAs for high-speed serial connectivity and embedded processing. Devices are shipping now. For more information on the Virtex-4 product family, visit http://www.xilinx.com/virtex4.
About Xilinx Virtex-5 FPGAs
Built upon the industry's most advanced 65nm triple-oxide technology, breakthrough new ExpressFabric(TM) technology and proven ASMBL(TM) architecture, the award-winning Virtex-5 family represents the fifth generation in the award-winning Virtex product line. Key design team innovations in process technology, architecture and product development methodology have led to unprecedented performance and density gains with Virtex-5 FPGAs while consuming 45 percent less area than previous generation 90nm FPGAs. Devices are shipping now. For more information visit http://www.xilinx.com/virtex5.
About Xilinx
Xilinx is the worldwide leader in complete programmable logic solutions. For more information, visit http://www.xilinx.com/.
#0831c
Editorial Contact:
Bruce Fienberg
Xilinx Public Relations
408-879-4631
bruce.fienberg@xilinx.com
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Xilinx, Inc.
CONTACT: Bruce Fienberg, Public Relations of Xilinx, Inc., +1-408-879-4631, bruce.fienberg@xilinx.com
Web site: http://www.xilinx.com/
Xilinx Accelerates Development of SFI-5 Applications With Hardware-Verified SolutionsFree reference design & 3rd party IP with proven 65nm Virtex-5 LXT devices enable 40G networking system development
SAN JOSE, Calif., March 4 /PRNewswire/ -- Xilinx, Inc. , the world's leading supplier of programmable logic solutions, today announced availability of a free hardware-verified reference design and 3rd party IP for the optical internetworking forum (OIF) SERDES framer interface level 5 (SFI-5) standard. The SFI-5 interface enables communication between the optical transmission devices and the network processing system. Based on its 65nm Xilinx(R) Virtex(TM)-5 LX330T FPGAs, the reference design accelerates the development of wired networking systems requiring 40Gbps payload rates, enabling applications using transport interfaces like OC768/STM256 and OTN OTU-3 in systems such as optical cross connects, fiber optics terminators and repeaters, 40G multiplexers, and test equipment.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020822/XLNXLOGO)
The reference design has been hardware verified on the Xilinx ML525 evaluation platform and characterized for skew, temperature, process, and voltage variations to ensure reliable interface, compatible with the OIF SFI-5 standard. Leveraging the industry's lowest power transceivers -- typically consuming less than 100mW per transmitter/receiver pair -- this Virtex-5 LXT FPGA-based reference design uses 17 transceivers (16 for data and one for calibration).
"Networking equipment is rapidly moving to 40G payload rates where SFI-5 provides the chip-to-chip interface to the optical transponders," said Anil Telikepalli, senior manager of platform solutions marketing at Xilinx. "The Virtex-5 LXT FPGA platform is ideal for implementing the SFI-5 physical layer, as well as additional logic blocks such as forward error correction and framer. The hardware-verified SFI-5 reference design takes advantage of the industry's only 65nm FPGA in production today with built-in low-power transceivers, providing generous deskew margin on the receiver side for sustained operation under changing system conditions."
Wired networking designers seeking additional Virtex-5 LXT FPGA solutions for 40G system design can also benefit from IP offerings from Xilinx Alliance program participant Avalon Microelectronics for 40Gbps applications, including: SxI-5-compliant SFI-5 physical layer core, 40G SONET-768/SDH-256 core with POS and 43G OTU-3 with G.709 FEC or other Enhanced FEC. For more information visit: http://www.avalonmicro.ca/products/index.php?Category=6.
About Xilinx Virtex-5 FPGAs
The Virtex-5 family represents the fifth generation in the award-winning Virtex series. Built upon the industry's most advanced 65nm triple-oxide technology, breakthrough new ExpressFabric(TM) technology and proven ASMBL(TM) architecture, the Virtex-5 family includes four domain-optimized platforms for high-speed logic, digital signal processing (DSP), embedded processing and serial connectivity applications. Production devices are shipping now and may be purchased online or through Xilinx distributors. For further cost reductions, the Xilinx(R) EasyPath(TM) program enables customers to use Virtex-5 devices in high-volume applications. Visit http://www.xilinx.com/virtex5 for more information.
Pricing and Availability
The free reference design for SFI-5 interface is available for download at http://www.xilinx.com/spi_sfi. The Virtex-5 LX330T FPGA is available today and the ML525 development board will be available in May 2008. For more device information visit http://www.xilinx.com/virtex5.
About Xilinx
Xilinx, Inc. is the worldwide leader of programmable logic solutions. For more information, visit http://www.xilinx.com/.
0830p
Editorial Contact:
Silvia Gianelli
Xilinx, Inc. Public Relations
(408) 626-4328
silvia.gianelli@xilinx.com
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Xilinx, Inc.
CONTACT: Silvia Gianelli of Xilinx, Inc., +1-408-626-4328, silvia.gianelli@xilinx.com
Web site: http://www.xilinx.com/
Xilinx Named to '100 Best Corporate Citizens for 2008' List
SAN JOSE, Calif., March 4 /PRNewswire/ -- Xilinx, Inc. , the world's leading provider of programmable logic solutions, today announced that it has been named one of the "100 Best Corporate Citizens for 2008" by CRO Magazine. In compiling this year's list, CRO -- in partnership with IW Financial, a Portland, Maine, research and consulting firm in environment, social and governance issues -- ranked the corporate responsibility efforts of large-cap companies from the Russell 1000 index in eight categories: climate change, employee relations, environment, financial, governance, human rights, lobbying and philanthropy. CRO determined the final ranking as a weighted average of these eight categories.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020822/XLNXLOGO)
"Some companies have good environmental policies," said Mark Bateman, IW Financial's Director of Research. "Some companies have great employee relations. Some companies have exemplary human rights records. CRO's 100 Best Corporate Citizens list answers the question: Which companies do best across a wide variety of citizenship issues? Companies can't make it onto the list if they do poorly in too many categories."
"We're honored to once again be included among such a prestigious list of the best corporate citizens in America," said Moshe Gavrielov, president and CEO of Xilinx. "Since our founding nearly 25 years ago, Xilinx has staked its reputation on running its day-to-day business based upon a core set of values that balance the needs of customers, employees and shareholders."
Xilinx ranks No. 70 on the 100 Best Corporate Citizens for 2008 list. Notably, the company's corporate governance quotient (CGQ) is better than 74 percent of S&P 500 companies and 97 percent of semiconductor and semiconductor equipment companies.
In 2007, Xilinx was recognized for its commitment to the environment by the U.S. Green Building Council, earning a LEED Silver Certification for its building renovation at its San Jose headquarters. Xilinx also received a Green Mark Platinum Award, the highest recognition possible by the Building and Construction Authority, for its new Asia Pacific headquarters building in Singapore.
The company is well known for fostering a spirit of community, corporate giving and volunteerism within its employee base. For example, for more than 17 years, Xilinx and its employees have been committed to the fight against AIDS through the Walk for AIDS Silicon Valley, as a major sponsor and the largest Silicon Valley corporate fundraiser.
The company is also actively involved in supporting local K-12 programs nearby its San Jose, California campus, including: RAFT (resource area for teaching), Junior Achievement, Mouse Squad (technology troubleshooting for youth), Youth Science Institute, YMCA, Positive Coaching Alliance, San Jose Museum of Art, TheatreWorks and Almaden Counseling Services. Equally active are employees at its Longmont, Colorado site, where the company supports the MESA (Mathematics, Engineering, Science Achievement) program, the YMCA, the Boulder Shelter for the Homeless and the Outreach United Resource Center, Inc.
The top ten companies listed in the "100 Best Corporate Citizens for 2008" include: Intel, Cisco, Sun Microsystems, Raytheon, Applied Materials, Motorola, Agilent Technologies, and Lockheed Martin.
About "100 Best Corporate Citizens"
The 2008 list marks the "100 Best Corporate Citizens" ninth year in publication. Business Ethics magazine, which CRO acquired in 2006, published the list for the first seven years and CRO continued the tradition in 2007 and 2008. The list's methodology for 2008 includes two significant updates. First, CRO changed rating agencies, switching from KLD Analytics to IW Financial. In contrast with KLD's interview-and-questionnaire-based method, IW Financial bases rankings solely on publicly-available data and uses its set of patented technologies to do the analysis. Second, the 2008 100 Best Corporate Citizens rankings are limited to the Russell 1000-companies that represent the largest impact on B2B and consumer markets. In previous years, the rankings also included the Domini 400 companies, which include many mid-cap and small-cap firms, and resulted in a perceived bias in favor of the lower-cap enterprises. More details regarding the 100 Best Corporate Citizens list are available on the CRO web site at http://www.thecro.com/.
About Xilinx
Xilinx is the worldwide leader in complete programmable logic solutions. For more information, visit http://www.xilinx.com/.
#0832c
Editorial Contacts:
Lisa Washington
Xilinx, Inc. Public Relations
(408) 626-6272
lisa.washington@xilinx.com
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Xilinx, Inc.
CONTACT: Lisa Washington of Xilinx, Inc. Public Relations, +1-408-626-6272, lisa.washington@xilinx.com
Web site: http://www.xilinx.com/
VECTr Systems Receives Military Order Valued at up to $2.85 Million
FALLS CHURCH, Va., March 4 /PRNewswire-FirstCall/ -- VECTr Systems Inc. (BULLETIN BOARD: VECT) is pleased to announce that it has received an order totaling more than $950,000 for VECTr MG-110 Moving Map and Mission Management Systems. Destined for an overseas special operations customer, the order also contains options for additional systems valued at more than $1.9 million.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070919/NEW014LOGO )
Deliveries are planned to commence in May 2008. Consistent with the customer's schedule, and with all options exercised, orders are to ship prior to the end of 2008. As a result, the 2008 potential revenue from this customer could exceed $2.85 million.
VECTr President & CEO Herb Lustig stated, "We are particularly gratified that, even with some tough competition from larger companies, the features, performance, and reliability of the MG-110 system have won us this order. We believe that many customers now understand the advantages and benefits of VECTr's comprehensive situational awareness solution."
"As our efforts with other customers bear fruit, we expect to announce additional sales later this year," said Randall Cohn, Vice President of Strategic Development for VECTr Systems.
The order announced today is in addition to an approximately $450,000 foreign military sale announced in August 2007. Delivery of MG-100 systems for that order is planned for the second quarter of this year.
About VECTr Systems
VECTr Systems develops and markets mission management systems used in airborne surveillance and reconnaissance applications. VECTr's map-based products couple with and manage airborne sensors to create a comprehensive system to improve situational awareness. Customers worldwide include some of the most demanding and sophisticated users of tracking and mission control tools such as Military, Government Agency, Law Enforcement, Fire Fighting, Search & Rescue, and Utility & Resource Management organizations. More information on VECTr Systems can be found at http://www.vectrsystems.com/
FOR FURTHER INFORMATION PLEASE CONTACT:
Corporate Headquarters Investment Information
Cdr. Randall Cohn USN (Ret.) J.A. Michie, Managing Director
VECTr Systems Inc. G.M. Capital Partners, Ltd
P.O. Box 7206 Usteristrasse19, CH-8023
Falls Church, VA 22040 Zurich, Switzerland
Tel: +1.703.752.9380 Tel: +41.44.226.5000
Email: info@vectrsystems.com Email: jam@gmcapital.com
This News Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. VECTr Systems, Inc. (the "Company") has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this News Release including such forward-looking statements.
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VECTr Systems Inc.
CONTACT: Cdr. Randall Cohn USN (Ret.) of VECTr Systems Inc., +1-703-752-9380, info@vectrsystems.com; or J.A. Michie, Managing Director of G.M. Capital Partners, Ltd, +41-44-226-5000, jam@gmcapital.com
Web site: http://www.vectrsystems.com/
SXC Health Solutions announces services agreement with MAXIMUS BC Health in province of British Columbia- Company plans to deliver in excess of $1.6 million in services associated with upgrade to B.C. PharmaNet System -
MILTON, ON, March 4 /PRNewswire-FirstCall/ -- SXC Health Solutions Corp. ("SXC") (TSX: SXC, NASDAQ: SXCI), a leading provider of pharmacy benefits management ("PBM") services and healthcare IT solutions to the healthcare benefits management industry, announces that it has entered into a two-year $1.6 million services agreement with MAXIMUS BC Health Inc. ("MAXIMUS BC"), a subsidiary of MAXIMUS, Inc. . All dollar amounts in U.S. dollars.
The agreement calls for the delivery of both professional and software development services by SXC to support the PharmaNet upgrade project. SXC's solution provides government and commercial clients with access to proven electronic medication history management and state-of-the-art HL7 Version 3 claims processing technology.
"We are very pleased to extend our relationship with our valued partner MAXIMUS BC," said Gordon Glenn, Chairman and CEO of SXC. "This agreement ensures that MAXIMUS BC will have ongoing access to SXC resources for the consulting and software enhancement services that will be needed as part of our joint PharmaNet upgrade project."
"The current PharmaNet application is a leading edge solution for the provision of patient medication histories, drug use evaluation, claims adjudication and payment reconciliation," said Duff Lang, President, MAXIMUS BC Health Inc. "We look forward to expanding our partnership with SXC to launch the next generation of the DIS as part of the Ministry of Health eHealth Electronic Health Record initiative to create a safer and more efficient health care system. This effort will broaden the quality service we already deliver to the pharmaceutical and medical communities in British Columbia."
SXC's software is the core processing engine for health record transactions in the PharmaNet System. The upgraded solution will include implementation of the pan-Canadian Electronic Drug ("CeRx") Messaging Standard established under the leadership of Canada Health Infoway Inc. Based in HL7 Version 3, CeRx ensures that the software is transferable and interoperable in other Canadian jurisdictions. SXC's DIS software applications have now been licensed in two provinces - British Columbia and the province of Newfoundland and Labrador. Funding for this major upgrade to British Columbia's PharmaNet system comes from the Province and Canada Health Infoway, a federal, non-profit organization with the mandate to accelerate the development of electronic health information systems across Canada.
About SXC Health Solutions Corp.
SXC Health Solutions Corp. (formerly Systems Xcellence, Inc.) 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/.
About MAXIMUS, Inc.
MAXIMUS is a leading provider of program management, consulting and information technology primarily to government clients. The Company has more than 6,000 employees located in more than 220 offices in the United States, Canada and Australia. MAXIMUS is included in the Russell 2000 Index and the S&P SmallCap 600 Index.
Forward-Looking Statements
Certain statements included herein, including those that express management's expectations or estimates of our future performance, constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause our actual financial results, performance, or achievements to be materially different from our estimated future results, performance or achievements expressed or implied by those forward-looking statements. Numerous factors could cause actual results to differ materially from those in the forward-looking statements, including without limitation, our ability to achieve increased market acceptance for our product offerings and penetrate new markets; consolidation in the healthcare industry; the existence of undetected errors or similar problems in our software products; our ability to identify and complete acquisitions, manage our growth and integrate acquisitions; our ability to compete successfully; potential liability for the use of incorrect or incomplete data; the length of the sales cycle for our healthcare software solutions; interruption of our operations due to outside sources; our dependence on key customers; maintaining our intellectual property rights and litigation involving intellectual property rights; our ability to obtain, use or successfully integrate third-party licensed technology; compliance with existing laws, regulations and industry initiatives and future change in laws or regulations in the healthcare industry; breach of our security by third parties; our dependence on the expertise of our key personnel; our access to sufficient capital to fund our future requirements; and potential write-offs of goodwill or other intangible assets. This list is not exhaustive of the factors that may affect any of our forward-looking statements. Other factors that should be considered are discussed from time to time in SXC's filings with the Canadian Securities Administrators, including the risks and uncertainties discussed under Item 8, Risk Factors in our Annual Information Form dated March 23, 2007, which is available at http://www.sedar.com/. Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to SXC or persons acting on our behalf are expressly qualified in their entirety by this notice. We disclaim any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise. Risks and uncertainties about our business are more fully discussed in our Annual Information Form.
Certain of the assumptions made in preparing forward-looking information and management's expectations include: maintenance of our existing customers and contracts, our ability to market our products successfully to anticipated customers, the impact of increasing competition, the growth of prescription drug utilization rates at predicted levels, the retention of our key personnel, our customers continuing to process transactions at historical levels, that our systems will not be interrupted for any significant period of time, that our products will perform free of major errors, our ability to obtain financing on acceptable terms and that there will be no significant changes in the regulation of our business.
SXC Health Solutions, Inc.
CONTACT: Jeff Park, Chief Financial Officer, SXC Health Solutions, Tel: (630) 577-3206, investors@sxc.com; Dave Mason, Investor Relations, 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
AirMedia Signs New Concession Rights Contract to Operate in Wuhan Tianhe Airport
Increases the number of top 30 airports with which it has concession rights to
29
BEIJING, March 4 /Xinhua-PRNewswire-FirstCall/ -- AirMedia Group Inc. , the operator of the largest digital media network in China dedicated to air travel advertising, today announced that it recently obtained the contractual concession rights to operate 140 digital TV screens and 130 46-inch digital frames at the newly constructed Terminal 2 of Wuhan Tianhe Airport from April 2008 to April 2011.
Wuhan is the capital city of Hubei Province. In 2007 Wuhan Tianhe Airport, which handled 8.4 million air passengers, was rated as the 12th largest airport in mainland China in terms of the number of air passengers. With the opening of Terminal 2, which has a floor area of 116,400 square meters, Wuhan Tianhe Airport will increase its passenger handling capacity to 13 million passengers and become the largest airport in central China. Terminal 2 of Wuhan Tianhe Airport is scheduled to open in April 2008. Wuhan Tianhe Airport has also been selected to become one of China's international hub airports. International flights will soon start arriving at and leaving from Wuhan Tianhe Airport without first stopping at Beijing, Shanghai or Guangzhou.
"I am very excited about the signing with Wuhan Tianhe Airport which used to be operated by our competitor. This new cooperation increases the number of top 30 airports in China where we have contractual concession rights to operate digital TV screens from 28 airports to 29 airports and increases the total number of airports in China where we have concession rights from 52 airports to 53 airports," commented Herman Man Guo, Chairman and Chief Executive Officer of AirMedia. "Continuously expanding our network and capacity, which will increase our revenue potential, is one of our core growth strategies. The new cooperation once again demonstrates our strong capability to obtain and secure resources and also highlights the importance of having a national digital media network."
About AirMedia Group Inc.
AirMedia Group Inc. operates the largest digital media network in China dedicated to air travel advertising. AirMedia has contractual concession rights to operate digital TV screens in 53 airports, including 29 out of the 30 largest airports in China, and has contractual concession rights to place its programs on the routes operated by 9 airlines, including the three largest airlines in China. In addition, AirMedia also has contractual concession rights to operate 46-inch digital frames and large size digital frames ranging from 63 to 70 inches in several major airports. AirMedia also offers advertisers other media platforms in airports, such as 360-degree LED displays, mega display screens, and shuttle bus displays etc. For more information about AirMedia, please visit http://www.airmedia.net.cn/ .
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "may," "would," "expect," "anticipate," "future," "intend," "plan," "believe," "estimate," "confident" and similar statements. Among other things, the quotations from management in this announcement, as well as AirMedia Group Inc.'s strategic and operational plans, contain forward-looking statements. AirMedia may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about AirMedia's beliefs and expectations, are forward-looking statements. Forward- looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, if advertisers or the viewing public do not accept, or lose interest in, our air travel digital media network, we may be unable to generate sufficient cash flow from our operating activities and our prospects and results of operations could be negatively affected; we derive substantially all of our revenues from the provision of air travel advertising services, and if there is a downturn in the air travel advertising industry, we may not be able to diversify our revenue sources; if we are unable to retain existing concession rights contracts or obtain new concession rights contracts on commercially advantageous terms that allow us to place or operate the digital TV screens in airports or on airplanes, we may be unable to maintain or expand our network coverage and our business and prospects may be harmed; a substantial majority of our revenues are currently concentrated in the five largest airports and three largest airlines in China, and if any of these airports or airlines experiences a material business disruption, our ability to generate revenues and our results of operations would be materially and adversely affected; AirMedia's limited operating history makes it difficult to evaluate our future prospects and results of operations; and other risks outlined in AirMedia's filings with the U.S. Securities and Exchange Commission. AirMedia does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please contact:
Raymond Huang
Investor Relations Director
Tel: +86-10-8460-8678
Email: ir@airmedia.net.cn
FD Beijing
Julian Wilson
Tel: +86-10-8591-1951
Email: julian.wilson@fd.com
AirMedia Group Inc.
CONTACT: Raymond Huang, Investor Relations Director, +86-10-8460-8678, or ir@airmedia.net.cn; or FD Beijing - Julian Wilson, +86-10-8591-1951, or julian.wilson@fd.com, for AirMedia Group Inc.
Web Site: http://www.airmedia.net.cn/
Atmel and Phoenix Technologies Collaborate to Create Next-generation Security Solutions for PCs
SAN JOSE and MILPITAS, California, March 4 /PRNewswire/ --
Atmel(R) Corporation (Nasdaq: ATML) and Phoenix Technologies Ltd.
(Nasdaq: PTEC), announced today the integration of Atmel's FingerChip(R)
biometric security solutions in Phoenix's FailSafe(TM) and SecureCore
Pre-boot Authentication (PBA) products.
This first cooperative design effort between the two industry leaders
provides for significantly stronger multifactor authentication and enhanced
security and is designed to bring superior security solutions including
theft-deterrence and tracking for mobile PCs. Phoenix FailSafe will enable
secure, remote tracking of fingerprint sensor data in the event of laptop
theft/loss. SecureCore PBA integrated with Atmel's FingerChip Biometric
Solutions provides for Biometric User Authentication at the preboot level,
providing higher levels of security, since fingerprints demand a user's
presence and cannot be shared, stolen or written down.
Atmel offers a very high performance, robust, and competitive range of
fingerprint-based biometric solutions for PC platforms, based on Atmel's
patented FingerChip Fingerprint sensors. These solutions offer industry
leading image quality, biometric performance and security. Phoenix SecureCore
PBA requires a user to authenticate identity before the computer boots up. It
also enables user authentication from core systems software (also known as
BIOS or firmware) to the operating system directly, to achieve single sign-on
into the Windows(R) O/S environment.
"Combining FingerChip solutions with the Phoenix products provides an
added layer of security which is vital for many enterprise and consumer
markets demanding increased security and privacy for stored data and logical
access," said Bruno Charrat, Director for Atmel Biometrics Business Unit.
"Our collaboration with Phoenix Technologies ensures the highest level of
secure authentication -- an increasingly important factor for any PC user.
Moving forward, we expect to see other collaborative initiatives by Atmel and
Phoenix, dedicated to bringing the best-in-class security solutions to the PC
market."
"Our work with Atmel to integrate their fingerprint sensors in our
FailSafe theft-deterrence platform enables an additional layer of tracking
methodology for mobile PCs. We not only want to provide critical
next-generation functionality to our PC OEM customers but also embed
certain features that will deter laptop theft," said Surendra Arora, Vice
President of Business Development at Phoenix Technologies. "Additionally, our
PBA collaboration with Atmel will ensure that our EFI and UEFI-based
SecureCore BIOS continues its feature-set dominance."
About Atmel
Atmel is a worldwide leader in the design and manufacture of
microcontrollers, advanced logic, mixed-signal, nonvolatile memory and radio
frequency (RF) components. Leveraging one of the industry's broadest
intellectual property (IP) technology portfolios, Atmel is able to provide
the electronics industry with complete system solutions focused on consumer,
industrial, security, communications, computing and automotive markets.
About Phoenix Technologies
Phoenix Technologies Ltd. (Nasdaq: PTEC) is the global market leader in
system firmware that provides the most secure foundation for today's
computing environments. The PC industry's top builders and specifiers trust
Phoenix to pioneer open standards and deliver innovative solutions that will
help them differentiate their systems, reduce time-to-market and increase
their revenues. The Company's flagship products, AwardCore, SecureCore,
FailSafe and HyperSpace, are revolutionizing the PC user experience by
delivering unprecedented security, reliability and ease-of-use. The Company
established industry leadership with its original BIOS product in 1983, has
155 technology patents and 139 pending applications, and has shipped in over
one billion systems. Phoenix is headquartered in Milpitas, California with
offices worldwide. For more information, visit http://www.phoenix.com.
(C) 2008 Atmel Corporation. All Rights Reserved. Atmel(R), logo and
combinations thereof, FingerChip(R), and others are registered trademarks or
trademarks of Atmel Corporation or its subsidiaries. Other terms and product
names may be trademarks of others.
Atmel Press Contacts:
Nancy Moore, Marketing Communications Manager
Tel: +1-719-540-3262, Email: nmoore@cso.atmel.com
Helen Perlegos, Public Relations
Tel: +1-408-487-2963, Email: hperlegos@atmel.com
Phoenix Technologies Press Contacts:
Shauli Chaudhuri, Phoenix Technologies
Tel: +1-408-570-1060
E-mail: public_relations@phoenix.com
Cedric Vanhaver, GlobalFluency/Neale-May for Phoenix Technologies
Tel: +1-650-433-4154
Email: phoneix@globalfluency.com
Web site: http://www.atmel.com
http://www.phoenix.com
Atmel Corporation
Nancy Moore, Marketing Communications Manager, +1-719-540-3262, nmoore@cso.atmel.com, or Helen Perlegos, Public Relations, +1-408-487-2963, hperlegos@atmel.com, both of Atmel Corporation; or Shauli Chaudhuri of Phoenix Technologies, +1-408-570-1060, public_relations@phoenix.com; or Cedric Vanhaver of GlobalFluency|Neale-May, +1-650-433-4154, phoneix@globalfluency.com, for Phoenix Technologies
Business Travelers Upgrade for Comfort and ConvenienceOrbitz for Business corporate traveler poll finds many business travelers willing to pay for amenities and added flexibility
CHICAGO, March 4 /PRNewswire/ -- Despite numerous indications that businesses are curtailing travel expenditures in a tightening economy, many business travelers aren't sacrificing comfort. In fact, a majority of those surveyed this month by Orbitz for Business (http://www.orbitzforbusiness.com/) are willing to pay for added services, benefits and flexibility while traveling, as sixty-five percent say they would pay extra for benefits such as refundable fares, priority/exit row seating and other conveniences.
Additionally, when it comes to seating upgrades, 40 percent of business travelers surveyed say their company would cover the cost of a seat upgrade of $50 or less at check-in, the March Orbitz for Business corporate traveler survey found.
"Many airlines are catering to business travelers and have enhanced service offerings to make the travel experience more enjoyable," said Dean Sivley, senior vice president, COO and general manager, Orbitz for Business. "We're certainly helping our customers identify cost savings, and while that's top of mind for many, companies also like to ensure their travelers are well-taken care of while away from home."
Traveling with the boss
There appear to be pros and cons to traveling with your boss. When asked whether they would prefer to sit alone on a flight or sit next to their boss, 58 percent of those surveyed say they would rather sit alone. Forty-two percent prefer to take advantage of an opportunity to sit with the boss.
The Orbitz for Business survey also looked into flight time restrictions and found that a majority of business travelers can fly whenever they choose, however some are prohibited from flying during normal business hours if at all possible.
-- 56% say their employer places no restrictions on when they book flights
for business travel.
-- 36% say at times they may be required to travel before or after normal
business hours, but can otherwise select their own flight times.
-- 8% say that their employers mandate traveling before or after business
hours unless it is not possible to do so.
The Orbitz for Business Corporate Traveler Survey was conducted online using a MarketTools panel of 261 adults ages 18-65 who have traveled for business this year. MarketTools is a market research firm that directly manages a nationally-representative online panel of more than 2.5 million individuals, with a global network extending to more than eight million consumers worldwide.
About Orbitz for Business
Orbitz for Business (http://www.orbitzforbusiness.com/) is the corporate travel brand of Orbitz Worldwide. Orbitz for Business serves over 2,000 corporate customers and more than a million business travelers. Launched in 2002, Orbitz for Business was one of the first full-service managed business travel programs offered by an online agency. Orbitz for Business includes a portfolio of business travel products for small to large companies. Its products include self-managed services for small business, managed travel services with fulfillment and service support and international capabilities.
About Orbitz Worldwide
Orbitz Worldwide is a leading global online travel company that uses innovative technology to enable leisure and business travelers to research, plan and book a broad range of travel products. Orbitz Worldwide owns and operates a portfolio of consumer brands that includes Orbitz (http://www.orbitz.com/), CheapTickets (http://www.cheaptickets.com/), ebookers (http://www.ebookers.com/), HotelClub (http://www.hotelclub.com/), RatesToGo (http://www.ratestogo.com/), the Away Network (http://www.away.com/) and corporate travel brand Orbitz for Business (http://www.orbitzforbusiness.com/). For more information, visit the Orbitz Worldwide Investor Relations website at http://www.orbitz-ir.com/.
Orbitz for Business
CONTACT: Jim Cohn of Orbitz.com|Orbitz for Business, +1-312-260-8413, Jim.cohn@orbitz.com; or David Cohen of Brodeur, +1-617-587-2877, dcohen@brodeur.com, for Orbitz for Business
Web site: http://www.orbitzforbusiness.com/ http://www.orbitz.com/
Concur to Present at the 2008 Montgomery Technology Conference
REDMOND, Wash., March 4 /PRNewswire-FirstCall/ -- Concur , the world's leading provider of on-demand Employee Spend Management services, today announced that Executive Vice President, Corporate Development John Torrey will deliver a presentation on behalf of the company at the 2008 Montgomery Technology Conference on Tuesday, March 11th from 9:00 - 9:30 am PST at the Fairmont Miramar Hotel in Santa Monica, CA. The live webcast and a replay of the presentation will be available for a limited time at http://www.concur.com/investors.
About Concur
Concur is the world's leading provider of on-demand Employee Spend Management services. Concur enables organizations to globally control costs by automating the processes they use to manage employee spending. Concur's end-to-end solutions seamlessly unite online travel booking with automated expense reporting, streamline meeting management and optimize the process of managing vendor payments, employee check requests and direct reimbursements. Organizations of all sizes trust Concur to help them control spend before it occurs while eliminating paper and optimizing supplier relations. Concur's unified approach to managing employee spend delivers a 360 degrees view into all employee expenses, helping companies globally enforce policies and monitor vendor compliance, while delivering unprecedented control and valuable insight. Concur's suite of on-demand services reach millions of employees across thousands of organizations around the world -- streamlining business processes, reducing operating costs, improving internal controls and providing enhanced visibility and actionable expense analysis. More information about Concur is available at http://www.concur.com/.
Concur
CONTACT: Investors, John Torrey of Concur, +1-425-497-5986, john.torrey@concur.com; or Media, Stefanie Johansen of Weber Shandwick, +1-425-452-5468, SJohansen@WeberShandwick.com, for Concur
Web site: http://www.concur.com/
Elbit Systems' Subsidiary, Cyclone, Will Supply Spirit AeroSystems With Commercial Aircraft Parts Valued at $160 MillionLargest Ever Contract for Cyclone, an Elbit Systems Subsidiary
HAIFA, Israel, March 4 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. announced that its subsidiary, Cyclone Aviation Products Ltd. (Cyclone), was awarded a contract by Spirit AeroSystems to supply doors for commercial aircraft. The contract, valued at approximately $160 million, is Cyclone's largest contract ever, with deliveries scheduled between 2009 and 2016.
Yoram Shmuely, Co-General Manager of Elbit Systems' Airborne Division said: "The fact that we have been selected, again, by Spirit AeroSystems is a testament to the customer's satisfaction and constitutes an additional milestone in positioning Cyclone as a major supplier to leading aerospace companies worldwide."
Joseph Ackerman, President and CEO of Elbit Systems said: "This important contract win reflects the recognition and trust that Cyclone in particular, and Elbit Systems in general, has established among major global aviation companies. Elbit Systems sees the commercial aviation market as a significant growth engine since it interfaces with a broad spectrum of our activities. Therefore, in addition to the significance we attribute to this contract win for Cyclone, we also view it as an important step in substantiating Elbit Systems' leadership in the fast-growing area of advanced avionics systems applied in the commercial aviation industry."
About Cyclone Aviation Products and Services Ltd.
Cyclone Aviation Products and Services Ltd., located in Karmiel, Israel, is a wholly-owned subsidiary of Elbit Systems Ltd. Cyclone's core business is manufacturing and maintenance of aircraft structures as well as engineering, manufacture, repair and upgrade of aircraft, UAVs and helicopters. Cyclone manufactures both metal and composite structural assemblies for UAVs, military aircraft such as the F-15, F-16 and F-18, and commercial aircraft such as Boeing's 737, 747, 767 and the new "Dreamliner" 787. Cyclone also operates the Israel Air Force's (IAF) aviation schools with Grob G-120A (Snunit) aircraft and B-206 (Saifan) helicopters. Cyclone's customer base includes the IAF, the U.S. Air Force, the U.S. Army and the U.S. Navy, as well as several major aviation companies, such as Boeing, Lockheed Martin, Sikorsky and Spirit AeroSystems.
About Elbit Systems Ltd.:
Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of defense-related programs throughout the world. The Elbit Systems Group, which includes the company and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned air vehicle (UAV) systems, advanced electro-optics, electro-optic space systems, EW suites, airborne warning systems, ELINT systems, data links and military communications systems and radios. The Group also focuses on the upgrading of existing military platforms and developing new technologies for defense, homeland security and commercial aviation applications.
This press release contains or may contain forward-looking statements, including statements regarding the future performance of our operations and our business strategies and commitments. For these statements and all other forward-looking statements, Elbit Systems Ltd. claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy or are otherwise beyond our control and some of which might not even be anticipated. Future events and actual results, affecting our strategic plan as well as our financial position, results of operations and cash flow, could differ materially from those described in or contemplated by the forward-looking statements. Important factors that contribute to such risks include, but are not limited to, governmental regulations and approvals, changes in governmental budgeting priorities, and general market, political and economic conditions in the countries in which the Elbit Systems Group operates or sells, including the United States.
Company Contact:
Joseph Gaspar, Corporate VP & CFO
Dalia Rosen, Director of Corporate Communications
Elbit Systems Ltd.
Tel: +972-4-8316663
Fax: +972-4-8316944
E-mail: gspr@elbit.co.il
daliarosen@elbit.co.il
IR Contact:
Ehud Helft / Kenny Green
G.K. Investor Relations
Tel: +1-646-201-0246
Fax: + 972-3-6074711
E-mail: info@gkir.com
Elbit Systems Ltd
CONTACT: Company Contact: Joseph Gaspar, Corporate VP & CFO, Dalia Rosen, Director of Corporate Communications, Elbit Systems Ltd., Tel: +972-4-8316663, Fax: +972-4-8316944, E-mail: gspr@elbit.co.il, daliarosen@elbit.co.il; IR Contact: Ehud Helft / Kenny Green, G.K. Investor Relations, Tel: +1-646-201-0246, Fax: +972-3-6074711, E-mail: info@gkir.com
Iomega Announces New Removable REV 120GB Backup DriveThird-Generation REV Technology Provides Superior Backup and Archive Performance for Tape-Weary Users and Others In a Data Intensive World
SAN DIEGO, March 4 /PRNewswire-FirstCall/ -- Iomega Corporation , a global leader in data storage and protection, today announced the new Iomega(R) REV(R) 120GB Backup Drive, the third generation of its award-winning REV technology and a benchmark in smart, sensible backup for small and medium-sized businesses, remote work groups and others.
Iomega will unveil the new Iomega REV 120GB Backup Drive and REV 120GB disks at CeBIT 2008, the international technology tradeshow beginning today in Hanover, Germany, and running through March 9. Iomega is located at CeBIT in Hall 2, booth D56.
The Iomega REV 120GB Backup Drive is expected to be available worldwide in April as external USB 2.0 and internal SATA interface models; a REV 120GB ATAPI interface model is planned for mid-year.
"With a REV install base of 350,000 drives and 2,000,000 disks, tape backup for small business has worn out its welcome," said Tom Kampfer, president and COO, Iomega Corporation. "Iomega's removable REV platform is a proven technology that delivers performance and ruggedness that no tape product can match. Compared to entry-level tape products like LTO-1 and DAT160 format tape drives, the new REV 120GB Backup Drive offers more native capacity, near instantaneous random access to files, faster backups and restores, and ruggedized cartridges -- all at a much better drive price. In addition, REV drives offer today's multimedia enthusiast a limitless storage solution for libraries of content with each 120GB REV disk holding approximately 48,000 photos, 2,000 hours of music or 12 hours of high-definition video."
REV Technology
Iomega introduced its REV technology with the first generation REV 35GB Backup Drive in 2004, followed by the second generation REV 70GB Backup Drive in 2006. Iomega's REV products have earned widespread awards from the technology media, strong support from storage software vendors and, most importantly, a worldwide reputation for simple, reliable operation.
Designed to provide the performance of a hard drive with the removability of tape, Iomega's patented REV technology reinvents the hard drive by dividing its components into a drive bay and a low-cost removable disk. The sensitive drive heads and electronics reside in the REV drive; a hard disk platter and fluid-dynamic bearing motor are located in the REV disk. The REV disk is designed for zero maintenance, sealed against outside air contamination while in operation and when not in the drive. The virtual clean room environment of the REV system is supported by automatic head-cleaning, air filtration, and two-stage error correction for automatic data verification.
The unique design and economics of the REV platform have caused Iomega's REV technology to be embraced by many different vertical markets as an ideal tape-replacement solution because of its durability, rewriteability, reliability, and excellent price-performance. In any field with regulatory requirements to archive records, large working files to transfer, or business continuity needs, Iomega's REV 120GB technology is an ideal fit.
Iomega's new REV 120GB Backup Drive features transfer rates of up to 35MB/second (max), extensive third-party software support, and an estimated 30-year archival life, while REV 120GB disks have an estimated one million rewrite durability -- the kind of performance tape backup products can never match. And while tape products require frequent head cleaning, tape retensioning, and an expensive tape replacement regime, REV drives and disks are designed for continuous reliable use with zero maintenance.
REV Technology Versus Competing Backup and Archive Formats
Reliable data backups are a necessity in most businesses today. Yet the most common storage alternatives have limitations as backup devices. Compared to LTO-1 or DAT160, Iomega's REV 120GB drive is up to 5 times faster and offers at least 20 percent more native capacity, and the drive costs upwards of 50 percent less. These advantages translate into the lowest total cost of ownership (TCO) for cost-conscious SMBs. Savings include reduced labor, hardware costs, and system downtime. Higher capacity REV 120GB disks also reduce time spent changing media and provide greater consolidation of data.
Removable HDDs, such as Go Vault and RDX, which claim a low cost of ownership, actually require users to purchase a complete hard drive every time data storage needs increase. With Iomega's REV technology, additional REV disks are more economical because each disk contains only the hard disk platter and the motor.
Where is REV Technology Used Today?
Iomega's REV products are in use today by small businesses in a variety of different industries. Graphic design firms are using REV disks as project disks to save and share their large files. Academic institutions are using REV disks to store and protect students' multi-media files. Network professionals are using REV technology as a cost-effective, random access tape-replacement solution. Through Iomega's Thomson Grass Valley alliance, REV drives are being used for professional video applications. As HD content among consumers becomes widespread, Iomega expects its REV technology to find applications with prosumers in the home as well. Home-based businesses utilize REV for their small business files and to back up their multimedia files. Dental and medical offices are turning to REV to store and archive patient records, including digital x-rays.
STI Computer Services, a Pennsylvania-based VAR that specializes in the development, sale, installation and support of medical computer systems, has installed more than a thousand REV drives for clients, which range from single practician offices to physician offices with upwards of 100 employees. Dan Woods, network administrator for STI Computer Services, said the company has been moving its clients to the REV platform exclusively since the REV 35GB Backup Drive debuted four years ago.
"We have clients up and down the Eastern Seaboard using a mix of REV 35GB and REV 70GB drives," said Woods. "Some of the larger practices were using entry-level tape before, while some of the smaller offices didn't have a data backup and disaster program at all. But all of them have benefited from using REV drives to protect their patient files and other important records. And Iomega has scaled its REV technology to meet our needs. We're already testing the REV 120GB Drive in preparation for using it with clients that need more storage per disk."
Over the last four years, Iomega's REV technology has been utilized in a variety of vertical markets in the U.S. and Europe. With the debut of the REV 120GB Backup Drive, VARs, resellers and other channel distributors are not only focused on existing customers and markets but are also integrating REV technology into new applications and new markets around the world.
AMAX Engineering Corporation, a Fremont, California-based value add contract manufacturer with customers worldwide, has been selling REV products to corporations, government and educational entities and OEM customers since the launch of the REV 35GB Backup Drive. James Huang, Product Marketing Manager at AMAX, notes OEM customers utilizing REV drives in such diverse installations as network and storage appliances, servers, semi-conductor, medical, printing, banking, and entertainment products.
"Iomega's REV products have been very good for our business and our customers' businesses," said Huang. "We've sold thousands of REV drives to resellers, VARs, and corporate entities that moved away from tape-based drives or optical solutions, as well as manufacturers of products that require cost-effective but durable and reliable backup storage. The REV 120GB Drive will be an upgrade for many of our current REV customers. We're also bringing complete integrated storage solutions to customers in China and the Asia market as a whole, and REV technology will play a big role in that part of our business development and market expansion."
About REV Products
The Iomega REV product family includes REV 35GB drives and disks, second generation REV 70GB drives and disks, and the soon-to-be-shipping REV 120GB Backup Drive and REV 120GB disks. Iomega also has a REV automation product, the REV Loader 560, which incorporates one REV 70GB drive and up to eight REV 70GB disks in a convenient automated desktop form factor for 560GB of native storage capacity.
The new Iomega REV 120GB Backup Drive will be backwards read compatible with REV 70GB disks, meaning a REV 120GB Backup Drive will be able to read a REV 70GB disk, allowing REV 70GB drive users a straightforward migration path to the new REV 120GB drive and disk platform.
Valued-Add Backup Software for a Complete Solution
Iomega provides its users with complete storage solutions out of the box. Iomega REV 120GB Backup Drives come complete with EMC(R) award-winning Retrospect(R) Express software for automatic backup and disaster recovery. REV 120GB server solutions ship with CA's BrightStor(R) ArcServe(R) Backup software with disaster recovery.
Where to Buy REV 120GB Products
All Iomega REV products, including future availability of the new REV 120GB Backup Drive, are available from a large base of value-added resellers (VARs), systems integrators (SIs) and others that work directly with small businesses on their storage and data protection needs.
REV Product Pricing
The new Iomega(R) REV(R) 120GB Backup Drive with one removable REV 120GB disk is expected to be available worldwide in April. Iomega REV 120GB disks are also expected to be available in April in single packs and five-packs. Pricing for the Iomega REV 120GB Backup Drive and Iomega REV 120GB disks will be announced closer to product availability.
About Iomega
Iomega Corporation, headquartered in San Diego, is a worldwide leader in innovative storage and network security solutions for small and mid-sized businesses, consumers and others. The Company has sold more than 400 million digital storage drives and disks since its inception in 1980. Today, Iomega's product portfolio includes industry leading network attached storage products, external hard drives, and its own award-winning removable storage technology, the REV(R) Backup Drive. OfficeScreen(R), Iomega's managed security services, which are available in the U.S. and select markets in Europe, provide enterprise quality perimeter security and secure remote network access for SMBs, which help protect small enterprises from data theft and liability. To learn about all of Iomega's digital storage products and managed services solutions, please go to the Web at http://www.iomega.com/. Resellers can visit Iomega at http://www.iomega.com/ipartner.
NOTE: The statements contained in this release regarding development, production and distribution of the new Iomega REV 120GB Backup Drive and disks, the future release of REV products, anticipated product pricing and availability, expected product performance and specifications, future applications for the new product and all other statements that are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements are based upon information available to Iomega as of the date hereof, and Iomega disclaims any intention or obligation to update any such forward-looking statements. Actual results could differ materially from current expectations. Factors that could cause or contribute to such differences include, but are not limited to, the successful completion of product development and testing, market acceptance of, and demand for, the Iomega product, any difficulties encountered in ramping up production or other manufacturing issues, including component availability and pricing, co-development, production, and distribution issues, product pricing and conformity to specifications, dependence upon third party suppliers, competition, intellectual property rights and other risks and uncertainties identified in the reports filed from time to time by Iomega with the U.S. Securities and Exchange Commission, including Iomega's Annual Report on Form 10-K for the year ended December 31, 2006, and its most recent Quarterly Report on Form 10-Q.
* 1 GB = 1,000,000,000 bytes.
Copyright(C) 2008 Iomega Corporation. All rights reserved. Iomega, Zip, REV, OfficeScreen, and StorCenter are either registered trademarks or trademarks of Iomega Corporation in the United States and/or other countries. All other trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.
Media please contact:
Chris Romoser, Iomega Corporation, (858) 314-7148 romoser@iomega.com
Analyst/Investors, please contact:
Preston Romm, Iomega Corporation, (858) 314-7188
Iomega Corporation
CONTACT: Media, Chris Romoser, +1-858-314-7148, romoser@iomega.com, or investors, Preston Romm, +1-858-314-7188, both of Iomega Corporation
Web site: http://www.iomega.com/
Pharsight Makes Strong Contribution to Inaugural American Conference on PharmacometricsPharsight Scientists Will Present at First Joint U.S. National Modeling and Simulation Meeting on March 11-12, 2008
MOUNTAIN VIEW, Calif., Mar. 4 /PRNewswire-FirstCall/ -- Pharsight Corporation , a leading provider of software, strategic consulting, and regulatory services for optimizing clinical drug development, today announced its broad-based participation at the inaugural meeting of the American Conference on Pharmacometrics (ACoP). Pharsight scientists will make a total of 10 scientific contributions at this groundbreaking event, which will be held in Tucson, Arizona at the Westward Look Resort from March 9-12, 2008.
"This meeting illustrates the impact of pharmacometrics on the drug development process," said Shawn O'Connor, president, CEO, and chairman of Pharsight. "Pharmacometrics has been recognized by the FDA for improving new drug approval and labeling decisions, and academia and industry have responded by adding significant numbers to their staff in this area. We are delighted to recognize the significant growth of this profession by sponsoring its first, dedicated national conference."
Pharsight scientists will present on a range of modeling and simulation subject areas, such as drug-disease modeling, clinical utility modeling, and state-of-the-art tools and techniques, during two plenary conference sessions and at three focused poster sessions, including:
-- Model-Based Literature Meta-Analysis: Virtues and Limitations. Dr.
Farkad Ezzet, senior scientist, Strategic Consulting Services, will
present as part of a dedicated conference session on altering disease
progression. Dr. Ezzet's presentation will outline how model-based
approaches for combining proprietary data on a specific compound with
literature data on its likely competitors can provide insight into
disease progression, effectiveness of current marketed therapies, and
tools for exploring the potential of new treatments.
-- Dosing Strategies of Drugs with Narrow Therapeutic Windows: A Simple
Approach to Determine Trade-off Between Efficacy and Toxicity. As part
of a poster session on pharmacometric tools and techniques, Dr. Samer
Mouksassi, associate scientist, Reporting and Analysis Services, will
describe research on how modeling and simulation methods have been
used to determine trade-offs between efficacy and toxicity in order to
design better dosing strategies.
"We look forward to sharing examples of strategic applications of modeling and simulation with industry colleagues and to discussing specific elements of our technology vision for the future of model-based drug development," added Mr. O'Connor.
A complete listing of Pharsight's ACoP presentations and poster contributions is available at http://www.pharsight.com/events/events_conferences.php.
The ACoP is organized and delivered by a cross-section of industry, academic and regulatory experts in the interdisciplinary science of pharmacometrics who also represent several regional U.S. modeling and simulation meetings and associations. Additional information about ACoP can be found at http://mosaicnj.com/acop/index.php.
About Pharsight Corporation
Pharsight Corporation develops and markets integrated products and services that enable pharmaceutical and biotechnology companies to achieve significant and enduring improvements in the development and use of therapeutic products. Pharsight's goal is to help customers reduce the time, cost and risk of drug development, as well as optimize the post-approval marketing and use of pharmaceutical products.
Pharsight's approach enhances the fundamental element of drug development success: strong decision-making. By adopting the Pharsight approach, customers acquire a new decision-making process with the potential to systematically improve every level and phase of their business and scientific processes. Pharsight Corporation is headquartered in Mountain View, California. Information about Pharsight is available at http://www.pharsight.com/.
Registered Trademarks and Trademarks
Pharsight is a registered trademark of Pharsight Corporation. All other brand or product names mentioned in this documentation are trademarks or registered trademarks of their respective companies or organizations.
Pharsight Corporation
CONTACT: Investors, Douglas Sherk, +1-415-896-6820, or Matthew Selinger, +1-415-896-6817, or Media, Steve DiMattia, +1-646-201-5445, all of EVC Group, for Pharsight Corporation
Web site: http://www.pharsight.com/
Simcere Pharmaceutical Group Reports Unaudited Fourth Quarter and Fiscal Year 2007 Results
2007 Total Revenue Increased 46.1%, Net Income Rose 75%
NANJING, China, March 4 /Xinhua-PRNewswire/ -- Simcere Pharmaceutical Group , a leading manufacturer and supplier of branded generic pharmaceuticals and manufacturer and supplier of the patented anti-cancer product Endu in China, today reported unaudited financial results for the quarter ended December 31, 2007 and fiscal year ended December 31, 2007. Financial Highlights
-- Total revenue increased to RMB398.6 million (US$54.7 million) for the
fourth quarter; achieving full year total revenue of RMB1,389.3 million
(US$190.5 million), representing a 46.1% year-over-year growth;
-- Net income increased to RMB78.1 million (US$10.7 million) for the
fourth quarter; achieving full year net income of RMB301.3 million
(US$41.3 million), representing a 75% year-over-year growth;
-- Gross margin remained stable at 82.1% for the fourth quarter; achieving
full year gross margin of 82.3% compared to 79.9% for the full year of
2006.
Mr. Jinsheng Ren, Chairman and CEO of Simcere Pharmaceutical Group, commented: "I am delighted to say Simcere achieved strong growth in 2007. Endu, our innovative anti-cancer drug continues to be rapidly recognized and accepted by an increasing number of specialist physicians and patients during the second year of its launch; Bicun, our first-to-market stroke management drug is being prescribed by a growing number of doctors, and gaining entry into additional hospital departments. Both Endu and Bicun sales growth exceeded our 2007 expectations.
In addition to the continued growth of Endu and Bicun, newly acquired drugs Yidasheng and Jiebasu, the expected SFDA approval of Biapenam later this year and further acquisition projects will drive Simcere to a new high in 2008."
2007 Fourth Quarter and Full Year Financial Results
Total revenue for the fourth quarter of 2007 was RMB398.6 million (US$54.7 million), representing an increase of 56% from RMB255.1 million for the same period in 2006. For the full year of 2007, total revenue was RMB1,389.3 million (US$190.5 million), representing an increase of 46.1% from RMB950.6 million for the full year of 2006.
Revenue from Endu, the Company's patented anti-cancer pharmaceutical launched in July 2006, totaled RMB64.0 million (US$8.8 million) in the fourth quarter of 2007, representing 16.1% of the Company's product revenue for the quarter and an increase from RMB23.7 million in the corresponding period in 2006. For the full year of 2007, revenue from Endu totaled RMB216.2 million (US$29.6 million), representing 15.9% of the Company's product revenue.
Revenue from Edaravone injection products, including Bicun, the Company's first-to-market stroke management product, and Yidasheng, the Company newly acquired product, totaled RMB147.0 million (US$20.1 million) in the fourth quarter of 2007, representing 36.9% of the Company's product revenue for the quarter compared to 29.4% in the comparative period of prior year, and an increase of 96% from RMB75.0 million in the corresponding period in 2006. For the full year of 2007, revenue from Edaravone products increased by 92% to RMB443.4 million (US$60.8 million), representing 32.5% of the Company's product revenue, compared to RMB230.9 million, or 24.4% of product revenue, for the full year of 2006.
Revenue from other branded generic products for the fourth quarter of 2007 totaled RMB187.0 million (US$ 25.6 million), contributing 47.0% of the Company's total revenue and representing an increase of 19.6% from RMB156.4 million for the same period in 2006. For the full year of 2007, revenue from other generic products totaled RMB703.4million (US$96.4 million), representing 52% of total product revenue, compared to RMB682.2 million or 72% of product revenue for the full year of 2006.
Gross margin slightly decreased to 82.1% for the fourth quarter of 2007 compared with 82.6% in the corresponding period of 2006. For the full year of 2007, gross margin increased to RMB82.3% compared to 79.9% for the full year of 2006.
Research and development expenses in the fourth quarter of 2007 totaled RMB15.9 million (US$2.2 million), an increase of 43.5% from RMB11.1 million for the corresponding period of 2006. For the full year of 2007, research and development expenses totaled RMB68.3 million (US$9.4 million), compared to RMB34.3 million for the full year of 2006. The increase in research and development expenses was primarily related to the Phase IV clinical study for Endu, the expansion of the Company's research and development department and other ongoing research projects.
Sales, marketing and distribution expenses in the fourth quarter of 2007 totaled RMB192.7 million (US$26.4 million), an increase of 56% from RMB124.0 million for the corresponding period of 2006. For the full year of 2007, sales and marketing expenses were RMB634.4 million (US$87.0 million), an increase of 43.3% from RMB442.8 million for the full year of 2006. The increase was primarily due to increased marketing expenses associated with the promotion of the Company's first-to-market product Bicun and the new drug Endu.
General and administrative expenses in the fourth quarter of 2007 totaled RMB45.8 million (US$6.3 million) for the fourth quarter of 2007, an increase of 71% from RMB26.8 million for the corresponding period of 2006. For the full year of 2007, general and administrative expenses were RMB161.1 million (US$22.1 million), an increase of 64% from RMB98.2 million for the full year of 2006. The increased expenses were primarily related to share-based compensation expenses, staff costs and professional service fees associated with being a new public company since April 2007.
Included in research and development, sales, marketing and distribution and general and administration expenses were share-based compensation expenses totaling RMB 8.7 million (US$1.2 million) for the fourth quarter of 2007, an increase of RMB5.3 million from RMB3.4 million for the corresponding period of 2006. For the full year of 2007, share-based compensation expenses totaled RMB30.8 million (US$4.2 million), an increase of RMB27.4 million from RMB3.4 million for the full year of 2006.
Operating income was RMB73.2 million (US$10.0 million) for the fourth quarter of 2007, compared to RMB48.9 million for the corresponding period of 2006. For the full year of 2007, operating income was RMB284.4 million (US$39.0 million), an increase of 54% as compared to RMB184.8 million for the full year of 2006.
Interest income for the fourth quarter of 2007 totaled RMB8.9 million (US$1.2 million), an increase of 304% from RMB2.2 million for the corresponding period of 2006. For the full year of 2007, interest income was RMB24.4 million (US$3.3 million) compared to RMB2.8 million for the full year of 2006. The increased interest income was primarily due to the increased average balance of the Company's cash and cash equivalents following the completion of the initial public offering in April 2007.
Interest expense for the fourth quarter of 2007 totaled RMB0.5 million (US$0.1 million), a decrease from RMB2.7 million for the corresponding period of 2006. For the full year of 2007, interest expense was RMB 6.3 million (US$0.9 million) compared to RMB10.7 million for the full year of 2006. The decrease was mainly due to the increased liquidity and decreased average balance of the Company's short-term bank borrowings in 2007.
Foreign currency exchange gains for the fourth quarter of 2007 and full year of 2007 represent unrealized gains resulting from the translation of US dollar denominated intercompany loans, which have fixed repayment terms, to RMB.
Income tax expense for the fourth quarter of 2007 totaled RMB 16.3 million (US$2.2 million), compared to RMB6.9 million income tax benefit for the corresponding period of 2006. For the full year of 2007, income tax expense was RMB13.5 million (US$1.9 million) compared to RMB7.0 million for the full year of 2006. The increased income tax expense and the effective tax rate for the year was primarily due to the recognition of additional deferred income tax expense as a result of the change in enacted China tax rates effective from 2008. Further, the Company recognized an additional deferred income tax charge for the fourth quarter of 2007 resulting from its application of the implementation guidance that was published by the government in December 2007 pertaining to certain provisions of the newly enacted China tax laws.
Net income was RMB78.1 million (US$10.7 million) for the fourth quarter of 2007 as compared to RMB54.1 million in the corresponding period of 2006. The Company's net income as a percentage of revenue was 19.6% for the fourth quarter of 2007 compared to 21.2 % for the corresponding period of 2006. For the full year of 2007, net income was RMB301.3million (US$41.3million), an increase of 75% as compared to RMB172.3 million for the full year of 2006. Net income margin for the full year of 2007 was 21.7% as compared to 18.1 % for the full year of 2006.
The basic earnings per American Depository Share (ADS) for the fourth quarter of 2007 and full year of 2007 were RMB1.25 (US$0.17) and RMB 5.13 (US$0.70) respectively, and the diluted earnings per ADS for the fourth quarter of 2007 and full year of 2007 were RMB1.21 (US$0.17) and RMB4.95 (US$0.68) respectively. Each ADS represents two ordinary shares.
As of December 31, 2007, the Company had cash and cash equivalents, and short-term investments of RMB968.3 million (US$132.7 million) compared to RMB126.8 million as of December 31, 2006.
For the year ended December 31, 2007, the Company has completed the acquisitions of 10% equity interest in Shandong Simcere Medgenn Bio- Pharmaceutical Company Limited, the existing subsidiary, for RMB27.1 million, 51% equity interest in Jilin Province Boda Pharmaceutical Company Limited for RMB123.1 million and 100% equity interest in Master Luck Corporation Limited for RMB32.9 million which in turn holds 85.71% equity interest in Nanjing Tung Chit Pharmaceutical Company Limited.
Financial Outlook
Based on current operating and market conditions, Simcere's targeted total revenues for the full year of 2008 are expected to be between RMB2.0 billion to RMB2.1 billion and Simcere's targeted annual net income for the full year 2008 is expected to be between RMB390 million and RMB400 million.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions. In particular, the quotations from management and information contained in the section Financial Outlook in this press release contain forward-looking statements. These forward looking statements are based upon management's current views and expectations with respect to future events and are not a guarantee of future performance. Furthermore, these statements are, by their nature, subject to a number of risks and uncertainties that could cause actual performance and results to differ materially from those discussed in the forward-looking statements as a result of a number of factors. Further information regarding these and other risks is included in Simcere's filing with the U.S. Securities and Exchange Commission at http://www.sec.gov/ . Simcere does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Conference Call
Simcere Pharmaceutical Group will host a conference call to discuss the fourth quarter 2007 earnings on Tuesday, March 4, at 8 a.m. Eastern Time (Tuesday, March 4, at 9 p.m., Beijing/Hong Kong time). The management team will be on the call to discuss quarterly results and highlights and to answer questions.
To access the conference call, please dial:
United States toll-free dial-in number: + 1 800 561 2601
United States dial-in number: + 1 617 614 3518
China toll-free dial-in number: + 86 10 800 130 0399
Hong Kong dial-in number: + 852 3002 1672
Please ask to be connected to Simcere's fourth quarter 2007 Earnings Call and provide the following passcode: 77061243. Simcere also will broadcast a live audio webcast of the conference call. The broadcast will be available by visiting the "Investor Relations" section of the company's Web site at http://www.simcere.com/ .
Following the earnings conference call, an archive of the call will be available by dialing:
United States toll-free dial-in number: + 1 888 286 8010
International dial-in number: + 1 617 801 6888
The passcode for replay participants is: 29676278. The telephone replay also will be archived on the "Investor Relations" section of the company's Web site at http://www.simcere.com/ for seven days following the earnings announcement.
About Simcere Pharmaceutical Group
Simcere Pharmaceutical Group (NYSE: SCR; Simcere) is a leading manufacturer and supplier of branded generic pharmaceuticals and manufacturer of the patented anti-cancer biotech product Endu in the rapidly growing China market. In recent years, Simcere has been focusing its strategy on the development of first-to-market generic and innovative pharmaceuticals, and has introduced a first-to-market generic stoke management medication under the brand name Bicun and an innovative anti-cancer medication under the brand name Endu. Simcere currently manufactures and sells more than 50 pharmaceutical products including antibiotics, anti-cancer medication and stroke management medication and is the exclusive distributor of three additional pharmaceuticals that are marketed under its brand names. Simcere concentrates its research and development efforts on the treatment of diseases with high incidence and/or mortality rates and for which there is a clear demand for more effective pharmacotherapy such as cancer, strokes, osteoporosis and infectious diseases and currently has more than 12 pipeline products. For more information about Simcere Pharmaceutical Group, please visit http://www.simcere.com/ .
Simcere Pharmaceutical Group
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF INCOME
(Amounts expressed IN THOUSANDS, EXCEPT PER SHARE AND PER ADS DATA)
Three months ended December 31
2006 2007 2007
RMB RMB USD
Product revenue 255,007 397,993 54,560
Other revenue 91 654 90
Total revenue 255,098 398,647 54,650
Cost of materials and
production (44,397) (71,071) (9,743)
Gross profit 210,701 327,576 44,907
Operating expenses:
Research and
development expenses (11,093) (15,914) (2,182)
Sales, marketing and
distribution expenses (123,950) (192,727) (26,421)
General and
administrative
expenses (26,782) (45,778) (6,276)
Income from operations 48,876 73,157 10,028
Interest income 2,210 8,937 1,225
Interest expense (2,695) (535) (73)
Foreign currency
exchange gains -- 19,176 2,629
Earnings before
income taxes and
minority interests 48,391 100,735 13,809
Income tax
benefit/(expense) 6,909 (16,346) (2,241)
Income before
minority interests 55,300 84,389 11,568
Minority interests (1,190) (6,316) (866)
Net income 54,110 78,073 10,702
Earnings per share:
Basic 0.54 0.62 0.09
Diluted 0.54 0.60 0.08
Earnings per ADS:
Basic 1.08 1.25 0.17
Diluted 1.08 1.21 0.17
Year ended December 31
2006 2007 2007
RMB RMB USD
Product revenue 947,797 1,363,014 186,852
Other revenue 2,809 26,260 3,600
Total revenue 950,606 1,389,274 190,452
Cost of materials and
production (190,560) (241,081) (33,049)
Gross profit 760,046 1,148,193 157,403
Operating expenses:
Research and
development expenses (34,289) (68,295) (9,362)
Sales, marketing and
distribution expenses (442,757) (634,449) (86,975)
General and
administrative
expenses (98,249) (161,061) (22,080)
Income from operations 184,751 284,388 38,986
Interest income 2,827 24,361 3,340
Interest expense (10,705) (6,346) (870)
Foreign currency
exchange gains -- 24,670 3,382
Earnings before
income taxes and
minority interests 176,873 327,073 44,838
Income tax
benefit/(expense) (6,952) (13,527) (1,854)
Income before minority
interests 169,921 313,546 42,984
Minority interests 2,337 (12,285) (1,684)
Net income 172,258 301,261 41,300
Earnings per share:
Basic 1.86 2.56 0.35
Diluted 1.86 2.48 0.34
Earnings per ADS:
Basic 3.72 5.13 0.70
Diluted 3.72 4.95 0.68
Simcere Pharmaceutical Group
UNAUDITED CONSOLIDATED CONDENSED Balance Sheets
(Amounts expressed IN THOUSANDS)
December 31, December 31, December 31,
2006 2007 2007
RMB RMB USD
Assets
Current assets
Cash and cash
equivalents (including
pledged bank deposits) 126,814 498,262 68,306
Short term investments -- 470,000 64,431
Accounts and bills
receivables, net of
allowance for doubtful
accounts 162,781 488,374 66,950
Inventories 39,483 65,241 8,944
Other current assets 82,351 35,276 4,836
Total current assets 411,429 1,557,153 213,467
Property, plant and
equipment, less
accumulated depreciation 267,054 374,058 51,279
Land use rights 82,522 116,386 15,955
Intangible assets, net 163,148 251,221 34,439
Goodwill 100,634 161,496 22,139
Other assets 9,760 11,894 1,631
Total assets 1,034,547 2,472,208 338,910
Liabilities
Current liabilities
Short-term bank loans
and borrowings 333,000 19,000 2,605
Accounts and bills
payable 20,089 23,711 3,250
Other payables and
accrued liabilities 194,992 295,411 40,497
Income taxes payable 20,092 24,443 3,351
Total current liabilities 568,173 362,565 49,703
Long term loan -- 52,000 7,129
Deferred income taxes 23,634 61,690 8,457
Total liabilities 591,807 476,255 65,289
Minority interests -- 12,137 1,664
Shareholders' equity
Contributed capital 7,909 9,840 1,349
Additional paid-in capital 265,964 1,550,697 212,581
Accumulated other
comprehensive loss -- (46,849) (6,422)
Retained earnings 168,867 470,128 64,449
Total shareholders' equity 442,740 1,983,816 271,957
Commitments and contingencies
Total liabilities,
minority interests and
shareholders' equity 1,034,547 2,472,208 338,910
Note: The conversions of Renminbi (RMB) into United States dollars (USD) as at the reporting dates are based on the noon buying rate of USD1.00 = RMB7.2946 on December 31, 2007 in The City of New York for cable transfers of Renminbi as certified for customs purposes by the Federal Reserve. No representation is intended to imply that the RMB amounts could have been, or could be, converted, realized or settled into U.S. dollars at that rate on the reporting dates.
Reconciliations of non-GAAP results of operations measures to the nearest
comparable GAAP measures (*)
(UNAUDITED, EXPRESSED IN RMB THOUSANDS)
Three months ended Three months ended
December 31, 2006 December 31,2007
GAAP Adjustment Non-GAAP GAAP Adjustment Non-GAAP
Result Result Result Result
Income from
operations 48,876 3,437 52,313 73,157 8,723 81,880
Net income 54,110 3,437 57,547 78,073 8,723 86,796
The full year ended The full year ended
December 31, 2006 December 31,2007
GAAP Adjustment Non-GAAP GAAP Adjustment Non-GAAP
Result Result Result Result
Income from
operations 184,751 3,437 188,188 284,388 30,764 315,152
Net income 172,258 3,437 175,695 301,261 30,764 332,025
(*) The adjustment is for share-based compensation expenses.
Non-GAAP Disclosure
In addition to the unaudited consolidated financial information presented in accordance with US GAAP, Simcere's management uses a non-GAAP measure of net income excluding non-cash share-based compensation. Simcere's management believes excluding the share-based compensation expenses from non-GAAP financial measures is useful for the investors' understanding of overall current financial performance. Nevertheless, the limitation of using non-GAAP financial measures excluding share-based compensation expenses is that share- based compensation expenses have been and will continue to be a significant recurring expense in the Company's business.
The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with US GAAP. For more information on these non-GAAP financial measures, please see the tables captioned "Reconciliations of non-GAAP results of operations measures to the nearest comparable GAAP measures" set forth at the end of this release, which shall be read in conjunction with the preceding financial information presented in accordance with US GAAP.
For more information, please contact:
Investor and Media Contact:
Email: ir@simcere.com
In Nanjing:
Frank Zhao
Chief Financial Officer
Simcere Pharmaceutical
Tel: +86-25-8556-6666 x8818
In the United States:
Michele Loguidice
Brunswick Group LLC
Tel: +1-212-333-3810
In Beijing:
Wu Kejia
Brunswick Group
Tel: +86-10-6566-2256
In Hong Kong:
Joseph Lo
Brunswick Group
Tel: +852-3512-5000
Simcere Pharmaceutical Group
CONTACT: Investor and Media Contact: ir@simcere.com; Or In Nanjing: Frank Zhao, Chief Financial Officer of Simcere Pharmaceutical, +86-25-8556-6666 x8818; Or In the United States: Michele Loguidice of Brunswick Group LLC, +1- 212-333-3810; Or In Beijing: Wu Kejia of Brunswick Group, +86-10-6566-2256; Or In Hong Kong: Joseph Lo of Brunswick Group, +852-3512-5000
Netherlands Defense Telematica Organization Deploys Amdocs OSS SolutionsCommunications Agency for the Dutch Ministry of Defense to Streamline Network and Resource Management
ST. LOUIS, March 4 /PRNewswire-FirstCall/ -- Amdocs , the leading provider of customer experience systems, today announced that the Defense Telematica Organization (DTO), part of the Netherlands Ministry of Defense, has deployed Amdocs Operations Support Systems (OSS) solutions. Amdocs OSS solutions have replaced a major legacy system for network asset management and enabled the agency to streamline its network operations and manage its network communications resources more efficiently.
The DTO employs 3,200 people to oversee the telecommunications infrastructure for the armed forces in The Netherlands. When fully deployed, Amdocs OSS products will support more than 45,000 users across the agency to support the introduction of new networks and services. As DTO moves from legacy systems and migrates massive amounts of data, it needs a scalable and secure solution to transform the way it delivers services to users-essentially the Defense customers-across the organization. Amdocs OSS solutions provide DTO with unparalleled visibility into its network resources and services to create more efficiency and cost savings, and improve the user experience.
"Amdocs' modular approach to OSS is enabling DTO to transform its network at the pace and security level necessary to support both short and long term objectives," said Charles Born, vice president of corporate communications at Amdocs. "This modular approach is enabling organizations worldwide to support next generation transformation without creating further fragmentation of the OSS environment to deliver accelerated service fulfilment and a superior customer experience."
As part of this initial deployment, the DTO has rolled out Amdocs Cramer Cable Manager, part of the Amdocs Cramer OSS Suite, to provide support for modelling its physical inventory. Combined with other Amdocs Cramer Suite products for network resource management, Cable Manager provides DTO with visibility of its entire network from a single platform, including both logical and physical inventory. This complete model of the network, including cables, fibers and ducts, connects data from both customers and services to the underlying network infrastructure. As a result, any faults, physical or logical, can be immediately associated with the services and the customers or users affected. With a complete view of network inventory, the DTO can manage and measure network capacity, and alter network resources based on demand for "just in time" network expansion and optimized both capital and operational investment. Amdocs OSS Division partnered with LogicaCMG to deploy the solution.
About Amdocs
Amdocs is the market leader in customer experience systems innovation, enabling world-leading service providers to deliver an integrated, innovative and intentional customer experience(TM) at every point of service. Amdocs provides solutions that deliver customer experience excellence, combining the software, service and expertise to help its customers execute their strategies and achieve service, operational and financial excellence. A global company with revenue of $2.84 billion in fiscal 2007, Amdocs has more than 16,000 employees and serves customers in more than 50 countries around the world. For more information, visit Amdocs at http://www.amdocs.com/.
Amdocs Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs ability to grow in the business markets that it serves, Amdocs ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2007, filed on December 3, 2007, and in our quarterly 6-K furnished on February 11, 2008.
Amdocs
CONTACT: Vicky Hayden, Text 100 for Amdocs, +44-208-846-0700, vicky.hayden@text100.co.uk; Kristy Heintz, Weber Shandwick for Amdocs, +1-212-445-9019, kheintz@webershandwick.com
Web site: http://www.amdocs.com/
Garmin(R) Introduces Enhanced nuvi(R) 2x5 Series, Bringing More Features, Options to Affordable Navigation
OLATHE, Kan., March 4 /PRNewswire-FirstCall/ -- Garmin International Inc., a unit of Garmin Ltd. , today announced the next evolution of the nuvi 200 series, the entry-level favorites in Garmin's popular nuvi line. The low-priced nuvi 2x5 models, a family of new products introduced at CeBIT, improve upon the features of their 200-series predecessors while providing the opportunity to add top-of-the-line features such as improved mapping and routing features, faster satellite acquisition, navigation by photos, FM traffic updates or dynamic content from MSN Direct.
(Logo: http://www.newscom.com/cgi-bin/prnh/20061026/CGTH082LOGO)
"The nuvi 2x5 products allow us to meet and exceed the basic needs of the budget-minded consumer while giving them further opportunity to expand," said Dan Bartel, Garmin's vice president of worldwide sales. "By making traffic and MSN Direct content accessible with our most basic nuvi models, the choice is truly in the buyer's hands. Pick a price, and there's your nuvi."
As portable and powerful as ever, the nuvi 2x5 models are available in vibrant 4.3" or 3.5" screens with an all new shaded elevation mapping display. Using Garmin's unique Web site -- Garmin Connect Photos -- users can choose from millions of geo-located photos provided by Google's Panoramio photo sharing community and download them to the nuvi for a richer navigation experience using pictures as a guide. The nuvi 2x5 series features a fast 333 Mhz Microprocessor which greatly enhances the map drawing and routing capability. In addition, satellite reception is even faster than before thanks to Garmin's new HotFix(TM) feature which automatically calculates and stores critical satellite information and can use that information to quickly calculate a position without waiting for data collection from the satellites.
The nuvi 255 and 255W will be available in versions that include comprehensive coverage of North America, Europe, Australia or New Zealand. The nuvi 255 and 255W models for North America, Australia or New Zealand announce street names in their voice prompts, advising you to "Turn right on Walnut Street" rather than just saying "Turn right in 500 feet." The nuvi 205 and 205W will be available in versions that offer mapping choices such as the contiguous United States, Canada or regional sections of Europe.
In addition, each nuvi 2x5 comes standard with the popular "Where am I?" feature. At any time, with a single tap of the screen, drivers can display their exact latitude and longitude coordinates, the nearest address and intersection, and the closest hospitals, police stations and gas stations.
When used with an optional receiver, each nuvi 2x5 can display important updated information from Traffic Message Channel or MSN Direct. The enhanced dynamic content from the second generation of the MSN Direct network includes updated information about traffic conditions, fuel prices, weather reports, movie listings, headline news items, stock listings, local events and custom locations sent directly from Windows Live Local. After the introductory trial period with MSN Direct, owners can re-subscribe for $49.95 a year, or a one-time charge of $129.95. For more information on MSN Direct services and coverage areas, visit http://garmin.msndirect.com/.
For information about pricing and availability, go to http://www.garmin.com/ and http://www.garmin.blogs.com/.
About Garmin
Garmin International, Inc. is a member of the Garmin Ltd. group of companies which designs, manufactures, markets, and sells navigation, communication and information devices and applications -- most of which are enabled by GPS technology. Garmin is a leader in consumer and general aviation navigation and its products serve the automotive/mobile, outdoor/fitness, marine, and aviation markets. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual pressroom at http://www.garmin.com/pressroom or contact the Media Relations department at 913-397-8200. Garmin and nuvi are registered trademarks, and Garmin Lock and Garmin Travel Guide are trademarks of Garmin Ltd. or its subsidiaries.
All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.
Notice on forward-looking statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. All statements regarding the company's future product introductions are forward-looking statements. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 29, 2007 filed by Garmin with the Securities and Exchange Commission (Commission file number 000-31983). A copy of Garmin's Form 10-K can be downloaded at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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Garmin International Inc.
CONTACT: Jake Jacobson of Garmin International Inc., +1-913-397-8200, media.relations@garmin.com
Web site: http://www.garmin.com/
Garmin's nuvi 900T: Combo Mobile TV, Navigation Device for Italy
OLATHE, Kan., March 4 /PRNewswire/ -- Garmin International Inc., a unit of Garmin Ltd. , today announced the nuvi 900T, a personal navigation device (PND) that combines cutting edge navigation features with DVB-H mobile television. The device is being co-branded with wireless carrier 3 Italia -- the Hutchison Whampoa Group's Mobile Media Company -- and will be available exclusively in Italy.
(Logo: http://www.newscom.com/cgi-bin/prnh/20061026/CGTH082LOGO)
"The nuvi 900T is the ultimate device for those who want to mix business with pleasure," said Dan Bartel, Garmin's vice president of worldwide sales. "The new nuvi 900T can play live, streaming digital television and music files. But at its core, the device remains a robust and full-featured navigation device that's straightforward enough for anyone to use."
Using the DVB-H format, video TV content is provided exclusively by La3 TV, the Mobile Digital TV provider of 3 Italia. Each unit comes with a six-month free subscription to La3 TV content as well as access to pay per view offerings. 3 Italia launched La3 TV -- the first Mobile Digital TV based on DVB-H technology in the world, broadcasting the entire FIFA World Cup 2006 on a mobile exclusive basis in Italy. 3 Italia's Digital Mobile TV customers can watch news, sports, movies and entertainment content through an array of digital channels, including Sky, Mediaset, Rai and the "in-house" produced channels La3 Live and La3 Sport.
The nuvi 900T features a bright, 4.3-inch WQVGA color touchscreen display, and can serve as a brilliant picture viewer (with photo navigation capability) and has optional travel guide features as well. Users can also play MP3 audio files, audio books from Audible.com, and pre-loaded games. The nuvi 900T boasts front-firing stereo speakers and a removable lithium-ion battery.
For hands-free phone calls, the nuvi 900T can be paired with compatible phones using Bluetooth wireless technology. Users can find and dial phone numbers (specifically supported phones can even access their history log of received, missed and dialed calls) or nuvi's points of interest database (hotels, restaurants, stores and more).
The nuvi 900T also includes Garmin Locate(TM), which answers age-old questions of a driver's current location or the location of his vehicle in a crowded parking lot. At any time, with a single tap of the screen, drivers can display their exact latitude and longitude coordinates, the nearest address and intersection, and the closest hospitals, police stations and gas stations. Additionally, the unit automatically marks its last known position every time it is removed from the mount.
Negotiating busy highways with the nuvi 900T is easy, thanks to a lifetime traffic subscription that helps drivers avoid gridlock and adjust routes accordingly. The nuvi 900T is also pre-loaded with safety camera data that can be updated free of charge for 30 days.
The nuvi 900T comes pre-programmed with highly detailed road maps of Europe. At startup, users are presented with Garmin's intuitive "Where To?" and "View Map" welcome screen, allowing for quick searches of addresses or millions of points of interest like restaurants, hotels, attractions, gas stations, and more. Turn-by-turn, voice-prompted directions guide drivers to
their destination, announcing streets by name along the way. If they miss a turn, nuvi automatically recalculates a route and gets them back on track.
The nuvi 900T will be available exclusively in Italy in July 2008. Visit http://www.garmin.com/ for more information and pricing.
About Garmin
Garmin International, Inc. is a member of the Garmin Ltd. group of companies which designs, manufactures, markets, and sells navigation, communication and information devices and applications -- most of which are enabled by GPS technology. Garmin is a leader in consumer and general aviation navigation and its products serve the automotive/mobile, outdoor/fitness, marine, and aviation markets. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual pressroom at http://www.garmin.com/pressroom or contact the Media Relations department at 913-397-8200. Garmin, and nuvi are registered trademarks, and Garmin Locate is a trademark of Garmin Ltd. or its subsidiaries.
About 3 Italia
3 Italia, the Hutchison Whampoa Group's Mobile Media Company, is the leader of the UMTS market in Italy with over 8 million customers thanks to a wide offer of multimedia, video communication and internet services, in addition to entertainment, music, information, cinema, sport and Mobile TV. 3 Italia acquired the national license as digital TV operator in 2005 and launched the first Digital Mobile TV based on DVB-H technology in the world the following June. 3 Italia has established itself on the cutting-edge of third generation mobile technology development by launching the first HSDPA commercial offer in Italy and implementing HSUPA to access broadband in mobility with data transmission speeds up to 7.2 Mbps in download and 1.4 Mbps in upload. In June 2007, 3 Italia launched X-Series, the first all-inclusive offer that extends several of the core applications and features of the broadband Internet to third generation mobile handsets: Instant Messaging, e-mail, browsing, Web searching, shopping, VoIP and photosharing directly on the videophone. In November 2007, 3 Italia and Skype launched 3 Skypephone, the first mobile handset exclusively dedicated to VoIP for the mass market. For more information: http://www.tre.it/, http://www.la3tv.it/, http://www.3xseries.it/ and http://www.3skypephone.com/. Contact: Gian Marco Litrico, External and Media Relations Director, Tel. +39.02.4458.1, gianmarco.litrico@h3g.it
Notice on forward-looking statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. All statements regarding the company's future product introductions are forward-looking statements. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 30, 2006 filed by Garmin with the Securities and Exchange Commission (Commission file number 000-31983). A copy of Garmin's Form 10-K can be downloaded at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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Garmin International Inc.
CONTACT: Ted Gartner of Garmin International Inc., +1-913-397-8200, media.relations@garmin.com; or Gian Marco Litrico, External and Media Relations Director of 3 Italia, +39.02.4458.1, gianmarco.litrico@h3g.it
Web site: http://www.garmin.com/ http://www.3skypephone.com/
Xyratex Announces High-Performance RAID Controller and Advanced Power Management Software for High-Density RAID SystemNew Products Offer Server and Storage OEMs Environmentally Responsible Alternatives
HAVANT, England, March 4 /PRNewswire-FirstCall/ -- Xyratex Ltd. , a leading provider of enterprise-class data storage subsystems and storage process technology, today unveiled two major enhancements to its RAID product portfolio: the F6412E RAID controller and Advanced Power Management (APM) software for the industry's highest density RAID system. The Xyratex F6412E sets a new standard for performance and efficiency, delivering up to twice the performance (IOPS) of the previous generation controller while minimizing electronic waste through optimal battery design. In addition, the company's new Advanced Power Management software can save up to 40 percent in power dissipation by automatically spinning down disk drives.
"Increasing cost-efficiency while retaining high performance is the name of the game in the storage business, and it's good to see that Xyratex's latest RAID enhancements continue to deliver against these needs," says analyst Mark Peters, Enterprise Strategy Group. "An additional priority for a growing number of organizations today is the need to be as energy efficient and as environmentally responsible as possible. Xyratex's introduction of a spin-down capability to reduce power consumption when possible, as well as a battery that offers both a longer life and a less environmentally-damaging chemical composition, can only be viewed as goodness. Overall, this announcement combines a performance-oriented solution with better economics and environmental considerations, creating a package that OEMs and solutions integrators can take into a wide variety of markets."
F6412E RAID Controller Doubles the Data Transfer Rate of Previous Generation Products
The Xyratex F6412E is an evolution of the company's highly successful 5000 RAID controllers that have been adopted by a large number of server and storage OEMs. Recognizing the need for vendors to shorten job completion in order to improve staff and business productivity, the F6412E RAID controller sets a new standard for Xyratex RAID storage with up to double the data transfer rate of previous generation products. This increase in transfer rate delivers maximum throughput (MB/s) for high-bandwidth applications ranging from video editing to high speed data protection to database-intensive online transaction processing.
In addition, Xyratex has developed a new battery technology for the F6412E that offers a service life up to 10 years rather than the standard two-to-three years of typical batteries. The extended battery life not only reduces electronic waste, but also minimizes downtime due to component replacement.
Advanced Power Management Software Reduces Energy Consumption in High-Density RAID System
The APM software provides a new level of power efficiency for the industry's highest density, high-availability nearline RAID system (Xyratex F5404E) and increases the eco-efficiency of the entire Xyratex RAID family. The software reduces energy consumption by enabling administrators to create policies that identify disk drives that have not been accessed in order to intelligently spin them down. It identifies groups of physical drives that are accessed in parallel and spins down and spins up drive groups to satisfy requests from applications running on attached servers. A schedulable patrol function regularly evaluates drives that have been spun down to ensure they will spin up on demand without affecting applications' performance, availability or reliability. With these new features, Xyratex OEMs can deliver high-performance storage solutions that appeal to a diverse set of markets, including video editing and high-performance computing at an extremely competitive price.
"Drawing from our expertise in high-efficiency power, reliability, and eco-efficiency, Xyratex continues to enhance customer investment in our products by delivering a new high-performance RAID system and Advanced Power Management software that sets us apart from others in the marketplace," said Lisa Hart, vice president of marketing, Networked Storage Solutions, Xyratex. "Customer commitment is the key to our success. Delivering affordable, adaptable and proven storage solutions is how we will continue to meet our customers' demands."
Product Availability
The Xyratex F6412E RAID controller is available today. The Advanced Power Management software will initially be implemented on the 4U 48-drive F5404E RAID system and incorporated throughout the remaining Xyratex RAID family by mid-2008.
Commitment to Environmental Stewardship
Xyratex embodies a corporate ethic of environmental stewardship that extends to production operations, and the minimization and management of waste including logistics. This code of ethics is translated through localized manufacturing that utilizes recycled materials and reduces the cost of operations to ensure that end-users do not run out of energy capacity.
About Xyratex
Xyratex is a leading provider of enterprise-class data storage subsystems and storage process technology. The company designs and manufactures enabling technology that provides OEM and disk drive manufacturers with data storage products to support high-performance storage and data communication networks. Xyratex has over 20 years of experience in research and development relating to disk drives, storage systems, and high-speed communication protocols.
Founded in 1994 in a management buy-out from IBM, and with headquarters in the UK, Xyratex has an established global base with R&D and operational facilities in Europe, the United States, and Southeast Asia. For more information, visit Xyratex's web site at http://www.xyratex.com/.
Xyratex Ltd.
CONTACT: Brad Driver, +1-408-325-7260, bdriver@us.xyratex.com, or Lisa Hart, +1-303-442-3449, lisa_hart@us.xyratex.com, both of Xyratex Ltd.
Web site: http://www.xyratex.com/
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