Companies news of 2008-03-05 (page 1)
Harris Corporation Provides FY 2009 Initial Guidance of $4.00 to $4.10 EPS in Advance of...
Document Capture Technologies Files Form 10KSB With Audited Full Year 2007...
TiVo Reports Results for the Fourth Quarter and Fiscal Year Ended January 31, 2008-...
inTEST Reports Fourth Quarter and Year End 2007 Results
Defense Advanced Research Projects Agency (DARPA) Awards F6 Satellite Program Contract to...
InRob Continues International Expansion: Secures Manufacturing Facilities in the...
Mikros Design Tools To Be Used by U.S. Navy for New Shipboard Wireless Networks
Landstar Named to Fortune Magazine's List of 'America's Most Admired Companies' for Fifth...
TRX and COA Solutions Partner Offer New Card Management ServicesAlternative Payment...
LSI to Showcase Accelerator Technology Using Microsoft Silverlight at Microsoft MIX08...
ID Media Partners with FIT to Cultivate Tomorrow's Direct Marketers
Verizon and Web Wise Kids Join Forces to Educate Youth on the Responsible Use of the...
Microsoft Unlocks the Power of the Web for Connected Customer ExperiencesUnveiled at...
Zix Corporation's ZixDirectory(TM) Marks Industry Record with 10 Million Email Encryption...
Teltronics Wins the Von Magazine Innovator AwardThe Magazine Recognized Teltronics' Cerato...
STMicroelectronics Announces the Filing of its Form 20-F with SEC
UTC Reaffirms $40 Per Share Cash Proposal to Diebold
Packeteer Board to Evaluate Unsolicited Acquisition Proposal
GeoEye to Webcast Fourth Quarter and Year-End 2007 Earnings Conference Call- Scheduled for...
VisualCV.com Doubles Company Participation and Signs up Thousands of MembersIn Under a...
Aon Consulting Hires Southeast Region LeaderMary Kay Vona joins as executive vice...
/C O R R E C T I O N -- AT&T Inc./In the news release, AT&T to Invest $1 Billion in Global...
AT&T Brings Exciting Wireless Products and Services to Eight Counties in West...
IFC Entertainment and BLOCKBUSTER Sign Two-Year Exclusive Rental DealBLOCKBUSTER to be...
Virgin Mobile USA to Announce Fourth Quarter and Full Year 2007 Financial Results and Host...
Conspiracy Entertainment's 'Best of Tests DS(TM)' Ships to North American Stores
TIM Participacoes S.A. Announces its Consolidated Results for the Fourth Quarter and Full...
VIASPACE Reports on Tokyo Fuel Cell Expo and Asian Sales Efforts
Quantum and German Solar Partner Asola Awarded $135 Million Contract to Supply Solar...
Harris Corporation Provides FY 2009 Initial Guidance of $4.00 to $4.10 EPS in Advance of Annual Analyst Meeting
MELBOURNE, Fla., March 5 /PRNewswire-FirstCall/ -- Harris Corporation , an international communications and information technology company, today provided initial GAAP earnings guidance for fiscal year 2009, beginning June 28, 2008, of $4.00 to $4.10 per diluted share, representing an increase of about 16 to 19 percent, compared to the company's current non-GAAP earnings guidance for fiscal year 2008. Revenue for fiscal year 2009 is expected to increase to a range of $5.7 billion to $5.8 billion, an increase of 8 to 10 percent above current fiscal 2008 guidance. The company announced the initial guidance in advance of its annual analyst meeting, scheduled for March 6-7 in Melbourne, Florida.
Fiscal year 2008 non-GAAP earnings exclude charges related to acquisitions and the formation of Harris Stratex Networks. A reconciliation of GAAP to non- GAAP financial measures is provided in Table 1 and in the accompanying notes.
"We expect fiscal year 2009 to be another excellent year for Harris," said Howard L. Lance, chairman, president and chief executive officer. "Our initial guidance is driven by continuing strong demand and expanding worldwide markets for high-reliability, mission-critical communications and information technology products, systems and services.
"We anticipate that growth in fiscal year 2009 will be driven by higher revenue and operating income from all four of our operating segments. In particular, we expect continuing strength in our Defense Communications and Electronics segment, where our RF Communications tactical radio business continues to gain market share and expand the markets that we serve. The U.S. and international opportunities pipeline for secure, networked, software- defined tactical communications remains large and robust. We expect to finish fiscal year 2008 with a substantial backlog, which is expected to drive double-digit revenue growth in RF Communications in fiscal year 2009. In addition, we expect continued growth in our Government Communications Systems business, which will benefit from expanding markets for IT services, from high-reliability, high-speed communications and information networks, and from expansion into new and adjacent markets such as health care, information assurance, and service-oriented architecture.
"We also expect top-line growth and improved operating performance in our two commercial businesses in fiscal year 2009," Lance continued. "In Broadcast Communications, investments to provide broad capabilities across the entire broadcast value chain have positioned Harris as the ONE(TM) source for customers to team with whether they are broadcasting over the air, cable, satellite, the emerging mobile television platforms, or the Internet. Finally, we expect Harris Stratex Networks to produce revenue growth and further gross margin improvements as a result of strong demand for wireless transmission systems in global markets and continued focus on cost reduction."
Harris will host a live audio webcast and listen-only conference call on Thursday, March 6, at 1 p.m. ET in conjunction with its annual analyst meeting being held in Melbourne, Florida. The webcast and call will include presentations on the company's business update and strategy review by Mr. Lance, and its financial summary by Gary L. McArthur, vice president and chief financial officer.
The webcast will be broadcast live via the Internet at http://www.harris.com/webcast. The dial-in number for the conference call is (913) 312-0718, access code 7197247. A replay of the conference call is available at (719) 457-0820, access code 7197247 from 6 p.m. March 6 (ET) through midnight (ET) on March 13. A replay of the webcast will be available on the company's website.
About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has annual revenue of almost $5 billion and more than 16,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications(TM) products, systems, and services. Additional information about Harris Corporation is available at http://www.harris.com/.
Non-GAAP Financial Measures
This press release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the SEC, including earnings per share guidance percentage increase from fiscal 2008 non-GAAP earnings guidance, which excludes costs associated with our acquisitions and with the formation of Harris Stratex Networks. Harris management believes that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is useful to investors in understanding period-over- period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. Management also believes that these non-GAAP financial measures enhance the ability of investors to analyze Harris business trends and to understand Harris performance. In addition, Harris may utilize non-GAAP financial measures as a guide in its forecasting, budgeting, and long-term planning process and to measure operating performance for some management compensation purposes. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP.
Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements in this release include but are not limited to: earnings guidance for fiscal 2008 and fiscal 2009; and statements regarding outlook, including expected revenue growth. The Company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. The Company's consolidated results and the forward-looking statements could be affected by many factors, including but not limited to: our participation in markets that are often subject to uncertain economic conditions which makes it difficult to estimate growth in our markets and, as a result, future income and expenditures; our dependence on the U.S. government for a significant portion of our revenue, as the loss of this relationship or a shift in U.S. government funding could have adverse consequences on our future business; potential changes in U.S. government or customer priorities due to program reviews or revisions to strategic objectives, including termination of or potential failure to fund U.S. government contracts; risks inherent with large long-term fixed-price contracts, particularly the ability to contain cost overruns; the performance of critical subcontractors or suppliers; financial and government and regulatory risks relating to international sales and operations, including fluctuations in foreign currency exchange rates and the effectiveness of our currency hedging program; our ability to continue to develop new products that achieve market acceptance; the consequences of future geo-political events, which may affect adversely the markets in which we operate, our ability to insure against risks, our operations or our profitability; strategic acquisitions and the risks and uncertainties related thereto, including our ability to manage and integrate acquired businesses; potential claims that we are infringing the intellectual property rights of third parties; the successful resolution of patent infringement claims and the ultimate outcome of other contingencies, litigation and legal matters; customer credit risk; the fair values of our portfolio of passive investments, which values are subject to significant price volatility or erosion; risks inherent in developing new technologies; changes in our effective tax rate that may have an adverse effect on our results of operations; the impact of the results of Harris Stratex Networks, which may vary significantly and may be difficult to forecast; the potential impact of natural disasters on our significant operations in Florida, California and other locations; general economic conditions in the markets in which we operate; changes in future business conditions that could cause business investments and/or recorded goodwill to become impaired; and our ability to attract and retain key employees. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. Harris disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Table 1
HARRIS CORPORATION
Reconciliation of FY'09 GAAP EPS Guidance to FY'08 GAAP and Non-GAAP EPS
Guidance
(Unaudited)
Fiscal Year Fiscal Year Percentage
2008 2009 Growth *
GAAP Earnings Per Share Guidance $3.35 $4.00 to $4.10 21%
Charges associated with the
combination with Stratex
Networks, Inc. (A) $0.07
Charges associated with the
acquisition of Multimax
Incorporated (B) $0.01
Charges associated with the
acquisition of Zandar
Technologies plc (C) $0.02
Non-GAAP Earnings Per Share
Guidance $3.45 $4.00 to $4.10 17%
* Percentage growth at mid-point of Fiscal Year 2009 guidance.
Note A - Adjustment for the estimated $0.07 per diluted share impact, after minority interest, is due to the impact of a step up in fixed assets and integration costs associated with the Stratex Networks, Inc. ("Stratex") combination.
Note B - Adjustment for the estimated $0.01 per diluted share impact is for the estimated impact from integration and other charges associated with the acquisition of Multimax Incorporated ("Multimax").
Note C - Adjustment for the estimated $0.02 per diluted share impact is for the estimated impact from integration and other charges associated with the acquisition of Zandar Technologies plc ("Zandar").
Harris Corporation
CONTACT: Investor Relations inquiries: Pamela Padgett, +1-321-727-9383, pamela.padgett@harris.com; Media inquiries: Jim Burke, +1-321-727-9131, jim.burke@harris.com, both of Harris Corporation; for additional information, webmaster@harris.com
Web site: http://www.harris.com/ http://www.harris.com/webcast
Document Capture Technologies Files Form 10KSB With Audited Full Year 2007 ResultsConference Call Scheduled for March 5, 2008, 4:30 PM ET Concurrent with Filing of Form 10KSBNo Material Changes to the Initial Release of Financial Results
SAN JOSE, Calif., March 5 /PRNewswire-FirstCall/ -- Document Capture Technologies, Inc. (BULLETIN BOARD: DCMT) , a leading provider of secure imaging solutions, today announced that it has filed its Form 10KSB with the Securities and Exchange Commission with audited financial results for the year ended December 31, 2007. This follows the Company's electronic distribution of preliminary, un-audited financial results on February 27, 2008. There are no material changes to the initial release of financial results.
Conference Call on March 5, 2008, at 4:30 PM ET:
Management will host a conference call today to discuss the audited results at 4:30 PM ET concurrent with filing the Form 10KSB with the Securities and Exchange Commission. Anyone interested in participating should dial in to 800-762-8795 if calling within the United States or 480-248-5085 if calling internationally. A re-play will be available until March 12, 2008, which can be accessed by dialing 800-406-7325 if calling within the United States or 303-590-3030 if calling internationally. Please use passcode 3850254 to access the replay.
The call will also be accompanied by a live webcast over the Internet and can be accessed at DCT's corporate website at http://www.docucap.com/ or at http://viavid.net/dce.aspx?sid=00004C48.
About Document Capture Technologies, Inc.
Document Capture Technologies, Inc. (OTCBB: DCMT.OB), headquartered in San Jose, Calif., designs and manufactures document capture solutions for OEM customers worldwide. The company currently manufactures over 20 proprietary document capture products and has become one of the world's largest private-label manufacturers of USB-powered mobile document scanning devices. The Company's growing intellectual property portfolio in document capture includes four key patents with an additional one patent pending.
Forward-Looking Statements
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond the Company's control that could cause actual events and results to differ materially from these statements. These risks include, without limitation, that there can be no assurance that any strategic opportunities will be available to the Company and that any strategic opportunities may only be available on terms not acceptable to the Company. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Document Capture undertakes no obligation to update publicly any forward- looking statements.
Company Contact:
Document Capture Technologies, Inc.
David P. Clark
(561) 835-4069
dclark@docucap.com
Investor Contact:
Hayden Communications, Inc.
Peter Seltzberg
(646) 415-8972
peter@haydenir.com
Document Capture Technologies, Inc.
CONTACT: David P. Clark of Document Capture Technologies, Inc., +1-561-835-4069, dclark@docucap.com; or investors, Peter Seltzberg of Hayden Communications, Inc., +1-646-415-8972, peter@haydenir.com, for Document Capture Technologies, Inc.
Web site: http://www.docucap.com/
TiVo Reports Results for the Fourth Quarter and Fiscal Year Ended January 31, 2008- Adjusted EBITDA for the fourth quarter was $1.0 million compared to a loss of $15.0 million in the year-ago quarter, exceeding guidance- Fiscal year 2008 Adjusted EBITDA closes in on breakeven- Net loss for the fourth quarter was $6.4 million compared to a loss of $19.5 million in the year ago quarter- Fiscal year 2008 net loss significantly better than prior year- Favorable ruling in EchoStar patent infringement case; damages and injunction upheld- Announced today Cox tech trial underway; New England to be first market- Comcast fully launched in New England; integrated marketing has begun- Added Omnicom Media Group to list of major advertising agency research clients- Added CBS to list of networks and advertisers signing on to TiVo audience research
ALVISO, Calif., March 5 /PRNewswire-FirstCall/ -- TiVo Inc. , the creator of and a leader in television services for digital video recorders (DVRs), today reported financial results for the fourth quarter and fiscal year ended January 31, 2008.
"This was a strong quarter and year for TiVo as we significantly improved our financial profile and made tremendous progress on the many elements driving our business forward," said Tom Rogers, President and CEO of TiVo. "Our progress can be especially noted with our financial results for the full-year, as we neared breakeven for the year on an Adjusted EBITDA basis, exceeding our goals. These results really underscore the success of our strategy to effectively manage our TiVo-Owned business in a way that does not cloud the enthusiasm for the many long-term growth drivers we have in place."
Mr. Rogers continued, "Importantly, just a few weeks ago we had a very big day at TiVo when the United States Court of Appeals for the Federal Circuit unanimously upheld the District Court's ruling that EchoStar had infringed on our Multimedia Time Warp patent. The Appeals Court decision was clear, unambiguous and unanimous that EchoStar violated our patent. The Court upheld the full monetary award, as well as the injunction issued by the trial court. We view EchoStar's latest attempt to appeal this ruling as merely a delay tactic that is intended to postpone the inevitable and we remain confident that the Federal Circuit will reject their rehearing request. We are very excited about this victory as it more significantly solidifies the strength of our intellectual property."
For the fourth quarter, service and technology revenues were $58.1 million, compared with $57.0 million for the same period last year. Note that during the quarter, the revenue recognition period of product lifetime subscriptions, primarily consisting of TiVo standard definition DVRs sold before November 1, 2007 was increased from 48 months to 54 months as these subscriptions are keeping the TiVo service longer than we originally estimated. This change to a longer estimated amortization period reduced service and technology revenues by approximately $2.5 million in the fourth quarter. We also increased the amortization period to 60 months for new product lifetime subscriptions which are offered on a limited basis and primarily related to the TiVo HD DVR.
TiVo reported a net loss of ($6.4) million and a net loss per share of ($0.06), compared to a net loss of ($19.5) million, or ($0.20) per share, for the fourth quarter of last year. Adjusted EBITDA was $1.0 million, compared to an Adjusted EBITDA loss of ($15.0) million in the year-ago period and guidance of a ($2) million to ($5) million Adjusted EBITDA loss. Both net loss and Adjusted EBITDA for the fourth quarter of fiscal year 2008 benefited from better than anticipated sales of our standard definition product as approximately $4.1 million of the previously recorded inventory reserve was utilized.
For the full fiscal year 2008, service and technology revenues were $230.9 million, compared with $217.3 million for the same period last year. TiVo reported a net loss of ($31.5) million and a net loss per share of ($0.32), compared to a net loss of ($47.8) million, or ($0.53) per share, for the full year of last year. Adjusted EBITDA loss was ($3.2) million, compared to an Adjusted EBITDA loss of ($29.9) million in the last fiscal year.
Mr. Rogers continued, "In terms of our mass distribution strategy, we continue to focus on increasing subscriptions through significant partnerships with leading MSOs in the U.S. and internationally. On that front, the TiVo service on Comcast is now operational in New England, Comcast's largest market with almost two million subscribers. Comcast is marketing the services to these subscribers and we expect marketing of the product to increase as Comcast gains greater experience with the offering.
"In addition, we are announcing today that the TiVo service on Cox is currently in tech trials and we will be launching in Cox's New England market. With both Comcast a reality and Cox in trial, our mass distribution strategy is making significant in-roads, effectively unleashing the power of TiVo beyond the confines of a dedicated hardware consumer electronic business.
"Along these lines, cable operators are beginning to realize the benefits of providing their customers with a feature set that goes beyond the applications that they have been offering to this point. In this regard, we are working in conjunction with CableLabs toward creating a standalone box that would be capable of providing the two way services provided by cable operators. In addition, we continue to stay ahead of the curve in this area, and have progressed on our work with the National Cable Television Association to make certain that not only will TiVo HD DVR users be able to access programming channels delivered using switched digital technology, but also that the cable industry is involved in making the TiVo installation process easier for consumers.
"On the international front, we began selling TiVo DVRs at key retailers in Canada and we continue to believe that there is a tremendous growth opportunity to drive TiVo's differentiated offering internationally. Through our existing international work in Australia, Mexico and Taiwan, and our domestic work with Comcast and Cox, we have learned how to provide TiVo through a variety of platforms and can drive our distribution growth via multiple paths.
"On the TiVo-Owned side of the business, we are very focused on effectively managing subscription acquisition costs, keeping a sharp eye on how all initiatives related to this part of the business impact profitability. It is important to note that it is difficult to compare this year's holiday results with those from fiscal 2007. Compared to last year, we have pulled back our marketing spend substantially, we have significantly reduced our hardware subsidy, and our main offering is now our $299 TiVo HD box versus the free standard definition offer that was our focus during last year's holiday season. We plan to maintain our more limited spend on marketing while we assess the speed with which consumers recognize the value and importance of broadband distribution of digital video. Subscription acquisition costs are the lowest they have been in almost two years. Looking ahead, we believe that our feature set of delivering digital content directly to the television is becoming rich and deep enough that there are opportunities to spark new growth in TiVo-Owned sales. We are also in the process of re-launching TiVo.com so that we can more effectively market TiVo in the most efficient way possible. We plan to continue our focus on managing acquisition costs and more efficient marketing spend."
TiVo-Owned subscription gross additions for the fourth quarter were 109,000, compared to 163,000 gross additions for the year-ago period. Overall, TiVo-Owned subscriptions increased slightly from the prior quarter to 1.75 million. As expected, TiVo reported a net decline in MSO/Broadcaster subscriptions during the period as DIRECTV is no longer deploying new TiVo boxes and other mass distribution deals are still in early phases of deployment. Cumulative total subscriptions as of January 31, 2008 were 3.95 million. Additionally, the monthly churn rate was 1.5% up from 1.2% in the year-ago period and 1.3% in the prior quarter. This increase was the result of a number of factors including inactive lifetime subs that reached the end of their amortization period as well as from satellite standard definition subscribers migrating to HD offerings from satellite providers.
Mr. Rogers continued, "Whether music, movies, television shows, photos or home movies, our broadband strategy continues to focus on delivering consumers what they want, when they want it. Over the course of the year, TiVo has made major strides in building and developing features that can access and bring directly to the television a powerful repertoire of content that goes way beyond typical television broadcasting, thus making TiVo not just a digital video recorder, but also a digital video retriever. Already TiVo offers 20,000 titles from Amazon, four million songs from Rhapsody, the entire Music Choice library of music programming, photo sharing through Photobucket and Picasa web Albums, content from over 40 TiVoCast content partners, and soon thousands of independent films through Jaman.com. Importantly, as we announced at the Consumer Electronics Show, we are integrating broadband content into our Season Pass feature, which will make it possible for users to search, record and catalogue web-based content for delivery to their television, just as they do for their favorite broadcast television shows. Certainly our ability to offer this kind of differentiated content and the ability to easily find and retrieve it, is becoming increasingly important as most of our new HD subscriptions are connecting via broadband. TiVo continues to distinguish itself as the one box, one user interface, one remote, one stop shop for delivering all forms of broadband content to the television set.
"On the advertising front, DVR viewing is becoming a more significant part of the advertising buying equation every day, and most industry experts expect DVR penetration to grow from 20 percent today to 35 percent in the next 18 months. As such, it will be critical for advertisers to become experts in consumption patterns in DVR homes and we are the only player out there providing them with both new forms of inventory as well as measurement and accountability tools that enable them to better assess how to reach the television audience increasingly looking to avoid commercials. Because we can provide a ratings measurement system with enough granularity and because we have developed unique ways for viewers to connect with advertising, over the course of the year we have broken through to many of the major players in the media world on both the research and advertising fronts, including: two of the largest broadcast networks in NBC and CBS; six of the world's largest advertising companies including WPP, IPG, Publicis, Havas, Carat, a unit of Aegis Group, OMG, which we announced just today; and major advertisers such as American Express, Fox Broadcasting, Honda, IBM, Norwegian Cruise Lines, Sony Pictures, Toyota and many others.
Mr. Rogers concluded, "We continue to focus the company on the many major growth opportunities we see in front of us, specifically in our advertising solutions, our audience research, our software development for the cable industry, our ability to expand internationally, our approach to delivering all forms of digital content to the television, and how we will exploit our intellectual property. We are beginning to see the results of our work and believe that we enter fiscal 2009 with strong momentum and a business plan in place that will lead to additional growth."
Management Provides Financial Guidance
For fiscal year 2009, TiVo anticipates continued improvement in Adjusted EBITDA and Net Loss as compared to fiscal year 2008.
For the first quarter of fiscal 2009, TiVo anticipates service and technology revenues in the range of $53 million to $55 million, a net loss in the range of ($1.0) million to ($3.0) million, and Adjusted EBITDA in the range of $5.0 million to $7.0 million. Note that first quarter service and technology revenues, net loss and Adjusted EBITDA will be impacted by the longer product lifetime amortization period.
This financial guidance is based on information available to management as of March 5, 2008. TiVo expressly disclaims any duty to update this guidance.
Management's guidance includes Adjusted EBITDA, a non-GAAP financial measure as defined in Regulation G. TiVo has provided a reconciliation of EBITDA and Adjusted EBITDA to net income (loss) in the attached schedules solely for the purpose of complying with Regulation G and not as an indication that EBITDA or Adjusted EBITDA is a substitute measure for net income (loss).
Conference Call and Webcast
TiVo will host a conference call and Webcast to discuss the second quarter financial and operating results and guidance outlook at 2:00 pm PT 5:00 pm ET), today, March 5, 2008. To listen to the discussion, please visit http://www.tivo.com/ir and click on the link provided for the Webcast or dial (888) 239-5348 (no password required). The Webcast will be archived and available through March 12, 2008 at http://www.tivo.com/ir or by calling (719) 457-0820 and entering the conference ID number 4535346.
About TiVo Inc.
Founded in 1997, TiVo pioneered a brand new category of products with the development of the first commercially available digital video recorder (DVR). Sold through leading consumer electronic retailers and TiVo.com, TiVo has developed a brand which resonates boldly with consumers as providing a superior television experience. Through agreements with leading satellite and cable providers, TiVo also integrates its DVR service features into the set-top boxes of mass distributors. TiVo's DVR functionality and ease of use, with such features as Season Pass(TM) recordings and WishList(R) searches and TiVo KidZone, have elevated its popularity among consumers and have created a whole new way for viewers to watch television. With a continued investment in its patented technologies, TiVo is revolutionizing the way consumers watch and access home entertainment. Rapidly becoming the focal point of the digital living room, TiVo's DVR is at the center of experiencing new forms of content on the TV, such as broadband delivered video, music and photos. With innovative features, such as TiVoToGo(TM) transfers and online scheduling, TiVo is expanding the notion of consumers experiencing "TiVo, TV your way.(R)" The TiVo(R) service is also at the forefront of providing innovative marketing solutions for the television industry, including a unique platform for advertisers and audience research measurement.
TiVo, 'TiVo, TV your way.' Season Pass, WishList, TiVoToGo, and the TiVo Logo are trademarks or registered trademarks of TiVo Inc.'s subsidiaries worldwide. (C) 2008 TiVo Inc. All rights reserved
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, TiVo's future business and growth strategies, profitability and financial guidance, distribution of the TiVo service domestically with Comcast and Cox and internationally in Australia, Mexico, Canada and Taiwan, growth and innovation in TiVo's advertising and audience research measurement business, TiVo's software development for the cable industry, the results of TiVo's litigation with EchoStar, how TiVo intends to exploit its intellectual property, TiVo's future marketing spend and related activities, and financial performance. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "believe," "expect," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include delays in development, competitive service offerings and lack of market acceptance, as well as the other potential factors described under "Risk Factors" in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2007, Quarterly Reports on Form 10-Q for the three months ended April 30, 2007, July 31, 2007, and October 31, 2007, and Current Reports on Form 8-K. The Company cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. TiVo disclaims any obligation to update these forward-looking statements.
TIVO INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share and share amounts)
(unaudited)
Three Months Ended Twelve Months Ended
January 31, January 31,
2008 2007 2008 2007
Revenues
Service revenues $51,025 $53,543 $211,496 $198,924
Technology revenues 7,027 3,417 19,382 18,409
Hardware revenues 16,066 19,890 41,798 41,588
Net revenues 74,118 76,850 272,676 258,921
Cost of revenues
Cost of service revenues (1) 12,019 12,445 42,976 43,328
Cost of technology
revenues(1) 5,252 3,476 17,367 16,849
Cost of hardware revenues 23,885 43,534 91,918 112,212
Total cost of revenues 41,156 59,455 152,261 172,389
Gross margin 32,962 17,395 120,415 86,532
Research and development (1) 15,416 12,755 58,780 50,728
Sales and marketing (1) 7,336 6,784 23,987 22,520
Sales and marketing,
subscription acquisition
costs 7,195 9,915 31,050 20,767
General and
administrative (1) 10,234 8,852 42,954 44,813
Total operating expenses 40,181 38,306 156,771 138,828
Loss from operations (7,219) (20,911) (36,356) (52,296)
Interest income 1,066 1,426 5,031 4,767
Interest expense and other (183) (8) (102) (173)
Loss before income
taxes (6,336) (19,493) (31,427) (47,702)
Provision for income
taxes (22) (17) (30) (52)
Net loss $(6,358) $(19,510) $(31,457) $(47,754)
Net loss per common
share - basic and diluted $(0.06) $(0.20) $(0.32) $(0.53)
Weighted average common
shares used to calculate
basic and diluted net
loss per share 98,517,991 96,415,236 97,510,576 89,864,237
(1) Includes stock-based
compensation expense as
follows :
Cost of service
revenues $216 $117 $729 $470
Cost of technology
revenues 729 338 2,422 1,020
Research and
development 1,934 1,419 7,326 5,596
Sales and marketing 737 385 2,205 1,649
General and
administrative 2,081 1,720 10,157 5,977
TIVO INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share amounts)
(unaudited)
January 31, 2008 January 31, 2007
ASSETS
CURRENT ASSETS
Cash and cash equivalents $78,812 $89,079
Short-term investments 20,294 39,686
Accounts receivable, net of allowance
for doubtful accounts of $1,194 and $271 20,019 20,641
Inventories 17,748 29,980
Prepaid expenses and other, current 3,792 3,071
Total current assets 140,665 182,457
LONG-TERM ASSETS
Property and equipment, net 11,349 11,706
Purchased technology, capitalized software,
and intangible assets, net 13,522 16,769
Prepaid expenses and other, long-term 1,513 1,018
Total long-term assets 26,384 29,493
Total assets $167,049 $211,950
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
CURRENT LIABILITIES
Accounts payable $23,615 $37,127
Accrued liabilities 27,050 36,542
Deferred revenue, current 59,341 64,872
Total current liabilities 110,006 138,541
LONG-TERM LIABILITIES
Deferred revenue, long-term 38,128 54,851
Deferred rent and other 309 1,562
Total long-term liabilities 38,437 56,413
Total liabilities 148,443 194,954
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock, par value $0.001:
Authorized shares are 10,000,000;
Issued and outstanding shares - none - -
Common stock, par value $0.001:
Authorized shares are 150,000,000;
Issued shares are 100,098,426 and
97,311,986, respectively and outstanding
shares are 99,970,947 and 97,231,483,
respectively 100 97
Additional paid-in capital 792,654 759,314
Accumulated deficit (773,302) (741,845)
Less: Treasury stock, at cost - 127,479
and 80,503 shares, respectively (846) (570)
Total stockholders' equity 18,606 16,996
Total liabilities and stockholders'
equity $167,049 $211,950
TIVO INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(unaudited)
Twelve Months Ended January 31,
2008 2007
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $(31,457) $(47,754)
Adjustments to reconcile net loss to net
cash used in operating activities:
Depreciation and amortization of
property and equipment and intangibles 10,326 7,759
Stock-based compensation expense 22,839 14,712
Inventory write-down 5,892 -
Loss on inventory barter transaction and
utilization of trade credits 1,331 -
Allowance for doubtful accounts 923 215
Changes in assets and liabilities:
Accounts receivable (301) (745)
Inventories 3,566 (19,041)
Prepaid expenses and other 227 5,643
Accounts payable (12,437) 11,963
Accrued liabilities (9,492) (663)
Deferred revenue (22,254) (5,754)
Deferred rent and other long-term
liabilities (1,253) 158
Net cash used in operating activities $(32,090) $(33,507)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of short-term investments (30,808) (28,621)
Sales of short-term investments 50,200 7,850
Acquisition of property and equipment (7,422) (7,341)
Acquisition of capitalized software and
intangibles (375) (13,125)
Net cash provided by (used in)
investing activities $11,595 $(41,237)
CASH FLOWS FROM FINANCING ACTIVITIES
Payment of financing expenses related to
line of credit - (641)
Proceeds from issuance of common stock, net - 64,539
Proceeds from issuance of common stock related
to exercise of warrants - 3,330
Proceeds from issuance of common stock related
to exercise of common stock options 7,107 9,075
Proceeds from issuance of common stock related
to employee stock purchase plan 3,397 2,792
Treasury Stock - repurchase of stock for tax
withholding (276) (570)
Net cash provided by financing
activities $10,228 $78,525
NET INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS $(10,267) $3,781
CASH AND CASH EQUIVALENTS:
Balance at beginning of period 89,079 85,298
Balance at end of period $78,812 $89,079
TIVO INC.
OTHER DATA
Three Months Ended Twelve Months Ended
January 31, January 31,
2008 2007 2008 2007
Net income (loss) $(6,358) $(19,510) $(31,457) $(47,754)
Add back:
Depreciation & amortization 2,675 1,944 10,326 7,759
Interest income & expense (1,050) (1,423) (4,975) (4,717)
Provision for income tax 22 17 30 52
EBITDA (4,711) (18,972) (26,076) (44,660)
Stock-based compensation 5,697 3,979 22,839 14,712
Adjusted EBITDA $986 $(14,993) $(3,237) $(29,948)
EBITDA and Adjusted EBITDA Results. TiVo's "EBITDA" means income before interest income and expense, provision for income taxes and depreciation and amortization. TiVo's "Adjusted EBITDA" is EBITDA less expense for stock-based compensation. EBITDA and Adjusted EBITDA are not measures of financial performance under generally accepted accounting principles, which we refer to as GAAP. A table reconciling TiVo's EBITDA and Adjusted EBITDA to GAAP net income is included with the condensed consolidated financial statements attached to this release. We have presented EBITDA and Adjusted EBITDA solely as supplemental disclosure because we believe they allow for a more complete analysis of our results of operations and we believe that EBITDA and Adjusted EBITDA are useful to investors because EBITDA and Adjusted EBITDA are commonly used to analyze companies on the basis of operating performance, leverage and liquidity. In addition, because of the variety of equity awards used by companies, the varying methodologies for determining stock-based compensation expense, and the subjective assumptions involved in those determinations, we believe excluding stock-based compensation enhances the ability of management and investors evaluate our operating performance over multiple periods. Management does not use EBITDA or AEBITDA as a measure of liquidity because, among other things, they do not exclude the impact of deferred revenues associated with the amortization of product lifetime subscriptions. We do not use stock-based compensation expense in our internal measures. A limitation associated with these non-GAAP measures is that they do not include any stock- based compensation expense related to hiring, retaining, and incentivizing the Company's workforce. EBITDA and Adjusted EBITDA are not intended to represent, and should not be considered more meaningful than, or as an alternative to, measures of operating performance as determined in accordance with GAAP.
TIVO INC.
OTHER DATA
Subscriptions
Three Months Ended Twelve Months Ended
January 31, January 31,
(Subscriptions in thousands) 2008 2007 2008 2007
TiVo-Owned Subscription Gross Additions 109 163 276 429
Subscription Net Additions/(Losses):
TiVo-Owned 33 101 19 235
MSOs/Broadcasters (155) (91) (518) (155)
Total Subscription Net
Additions/(Losses) (122) 10 (499) 80
Cumulative Subscriptions:
TiVo-Owned 1,745 1,726 1,745 1,726
MSOs/Broadcasters 2,201 2,718 2,201 2,718
Total Cumulative Subscriptions 3,946 4,444 3,946 4,444
% of TiVo-Owned Cumulative
Subscriptions paying recurring fees 61% 58% 61% 58%
Included in the 3,946,000 subscriptions are approximately 175,000
lifetime subscriptions that have reached the end of the period TiVo uses
to recognize lifetime subscription revenue. These lifetime subscriptions
no longer generate subscription revenue.
Subscriptions. Management reviews this metric, and believes it may be useful to investors, in order to evaluate our relative position in the marketplace and to forecast future potential service revenues. The TiVo-Owned lines refer to subscriptions sold directly or indirectly by TiVo to consumers who have TiVo-enabled DVRs and for which TiVo incurs acquisition costs. The MSO's/Broadcasters lines refer to subscriptions sold to consumers by MSOs/Broadcasters such as DIRECTV, Cablevision Mexico, and Comcast, and in the future Cox and Seven and for which TiVo expects to incur little or no acquisition costs. Additionally, we provide a breakdown of the percent of TiVo-Owned subscriptions for which consumers pay recurring fees, including on a monthly and a prepaid one, two, or three year basis, as opposed to a one- time prepaid product lifetime fee.
We define a "subscription" as a contract referencing a TiVo-enabled DVR for which (i) a consumer has committed to pay for the TiVo service and (ii) service is not canceled. We have from time-to-time offered a product lifetime subscription for general sale, under which consumers could purchase a subscription that is valid for the lifetime of a particular DVR. We count these as subscriptions until both of the following conditions are met: (i) the period we use to recognize lifetime subscription revenues ends; and (ii) the related DVR has not made contact to the TiVo service within the prior six- month period. Lifetime subscriptions past this period which have not called into the TiVo service for six months are not counted in this total. During the quarter ended April 30, 2006, we discontinued general sale of the product lifetime service option. During the quarter ended January 31, 2008, we began offering product lifetime service subscriptions only to existing customers. Additionally, we have extended the period we use to recognize product lifetime subscription revenues from 48 months to 54 months for lifetime subscriptions acquired on or before October 31, 2007 and 60 months for product lifetime subscriptions acquired on or after November 1, 2007 which are offered on a limited basis and primarily related to the TiVo HD DVR. We are not aware of any uniform standards for defining subscriptions and caution that our presentation may not be consistent with that of other companies. Additionally, the subscription fees that some of our MSO/Broadcasters pay us may be based upon a specific contractual definition of a subscriber or subscription which may not be consistent with how we define subscription for our reporting purposes.
TIVO INC.
OTHER DATA - KEY BUSINESS METRICS
Three Months Ended Twelve Months Ended
January 31, January 31,
TiVo-Owned Churn Rate 2008 2007 2008 2007
(In thousands) (In thousands)
Average TiVo-Owned subscriptions 1,727 1,672 1,721 1,584
TiVo-Owned subscription cancellations (76) (62) (257) (194)
TiVo-Owned Churn Rate per month -1.5% -1.2% -1.2% -1.0%
TiVo-Owned Churn Rate per Month. Management reviews this metric, and believes it may be useful to investors, in order to evaluate our ability to retain existing TiVo-Owned subscriptions (including both monthly and product lifetime subscriptions) by providing services that are competitive in the market. Management believes factors such as service enhancements, service commitments, higher customer satisfaction, and improved customer support may improve this metric. Conversely, management believes factors such as increased competition, lack of competitive service features such as high definition television recording capabilities for our low cost product offerings, and increased price sensitivity may cause our TiVo-Owned Churn Rate per month to increase.
We define the TiVo-Owned Churn Rate per month as the total TiVo-Owned subscription cancellations in the period divided by the Average TiVo-Owned subscriptions for the period (including both monthly and product lifetime subscriptions), which then is divided by the number of months in the period. We calculate Average TiVo-Owned subscriptions for the period by adding the average TiVo-Owned subscriptions for each month and dividing by the number of months in the period. We calculate the average TiVo-Owned subscriptions for each month by adding the beginning and ending subscriptions for the month and dividing by two. We are not aware of any uniform standards for calculating churn and caution that our presentation may not be consistent with that of other companies.
Three Months Ended Twelve Months Ended
January 31, January 31,
2008 2007 2008 2007
(In thousands, (In thousands,
Subscription Acquisition Costs except SAC) except SAC)
Sales and marketing, subscription
acquisition costs $7,195 $9,915 $31,050 $20,767
Hardware revenues $(16,066) $(19,890) $(41,798) $(41,588)
Cost of hardware revenues $23,885 $43,534 $91,918 $112,212
Total Acquisition Costs 15,014 33,559 81,170 91,391
TiVo-Owned Subscription Gross
Additions 109 163 276 429
Subscription Acquisition
Costs (SAC) $138 $206 $294 $213
Subscription Acquisition Cost or SAC. Management reviews this metric, and believes it may be useful to investors, in order to evaluate trends in the efficiency of our marketing programs and subscription acquisition strategies. We define SAC as our total acquisition costs for a given period divided by TiVo-Owned subscription gross additions for the same period. In the first fiscal quarter of 2008, we revised our definition of total acquisition costs. We now define total acquisition costs as sales and marketing, subscription acquisition costs less net hardware revenues (defined as gross hardware revenues less rebates, revenue share and market development funds paid to retailers) plus cost of hardware revenues. The sales and marketing, subscription acquisition costs line item includes advertising expenses and promotion-related expenses directly related to subscription acquisition activities, but does not include expenses related to advertising sales. We do not include third parties subscription gross additions, such as MSOs/Broadcasters' gross additions with TiVo subscriptions, in our calculation of SAC because we incur limited or no acquisition costs for these new subscriptions. We are not aware of any uniform standards for calculating total acquisition costs or SAC and caution that our presentation may not be consistent with that of other companies.
Three Months Ended Twelve Months Ended
TiVo-Owned Average Revenue per January 31, January 31,
Subscription 2008 2007 2008 2007
(In thousands, except ARPU)
Total Service revenues $51,025 $53,543 $211,496 $198,924
Less: MSOs/Broadcasters-related
service revenues (7,133) (8,452) (27,440) (32,257)
TiVo-Owned-related service revenues 43,892 45,091 184,056 166,667
Average TiVo-Owned revenues per
month 14,631 15,030 15,338 13,889
Average TiVo-Owned per month
subscriptions 1,727 1,673 1,721 1,584
TiVo-Owned ARPU per month $8.47 $8.98 $8.91 $8.77
Three Months Ended Twelve Months Ended
MSOs/Broadcasters Average Revenue January 31, January 31,
per Subscription 2008 2007 2008 2007
(In thousands, except ARPU)
Total Service revenues $51,025 $53,543 $211,496 $198,924
Less: TiVo-Owned-related service
revenues (43,892) (45,091) (184,056) (166,667)
MSOs/Broadcasters-related service
revenues 7,133 8,452 27,440 32,257
Average MSOs/Broadcasters revenues
per month 2,378 2,817 2,287 2,688
Average MSOs/Broadcasters per month
subscriptions 2,279 2,767 2,481 2,836
MSOs/Broadcasters ARPU per month $1.04 $1.02 $0.92 $0.95
Average Revenue Per Subscription or ARPU. Management reviews this metric, and believes it may be useful to investors, in order to evaluate the potential of our subscription base to generate revenues from a variety of sources, including subscription fees, advertising, and audience research measurement. ARPU does not include rebates, revenue share and other payments to channel that reduce our GAAP revenues. As a result, you should not use ARPU as a substitute for measures of financial performance calculated in accordance with GAAP. Management believes it is useful to consider this metric excluding the costs associated with rebates, revenue share and other payments to channel because of the discretionary and varying nature of these expenses and because management believes these expenses, which are included in hardware revenues, net, are more appropriately monitored as part of SAC. We are not aware of any uniform standards for calculating ARPU and caution that our presentation may not be consistent with that of other companies.
We calculate ARPU per month for TiVo-Owned subscriptions by subtracting MSOs/Broadcaster-related service revenues (which includes MSOs/Broadcasters' subscription service revenues and MSOs/Broadcasters'-related advertising revenues) from our total reported net service revenues and dividing the result by the number of months in the period. We then divide by Average TiVo-Owned subscriptions for the period, calculated as described above for churn rate. The above table shows this calculation. The decrease in ARPU per month for TiVo-Owned subscriptions during the fourth quarter ended January 31, 2008 as compared to the prior year period was the result of the recent change in amortization period for product lifetime subscription.
We calculate ARPU per month for MSOs/Broadcasters' subscriptions by first subtracting TiVo-Owned-related service revenues (which includes TiVo-Owned subscription service revenues and TiVo-Owned related advertising revenues) from our total reported service revenues. Then we divide average revenues per month for MSOs/Broadcasters'-related service revenues by the average MSOs/Broadcasters' subscriptions for the period. The above table shows this calculation.
Beginning in February 2006, pursuant to the most recent amendment of our agreement with DIRECTV, TiVo defers a portion of the DIRECTV subscription fees equal to the fair value of the undelivered development services. Additionally, beginning in February 2007, DIRECTV began paying us a monthly fee for all DIRECTV households with DIRECTV receivers with TiVo service similar to the lower amount paid by DIRECTV for households with DIRECTV receivers with TiVo service deployed since March 15, 2002, subject to a monthly minimum payment by DIRECTV.
TiVo Inc.
CONTACT: Investor Relations, Derrick Nueman of TiVo Inc., +1-408-519-9677, ir@tivo.com; or Media Relations, Whit Clay of Sloane & Company, +1-212-446-1864, wclay@sloanepr.com, for TiVo Inc.
Web site: http://www.tivo.com/
inTEST Reports Fourth Quarter and Year End 2007 Results
CHERRY HILL, N.J., March 5 /PRNewswire-FirstCall/ -- inTEST Corporation , an independent designer, manufacturer and marketer of semiconductor automatic test equipment (ATE) interface solutions and temperature management products, today announced results for the quarter and year ended December 31, 2007.
Net revenues for the quarter ended December 31, 2007 were $11.4 million, compared to $13.1 million in the third quarter of 2007. Our net loss for the fourth quarter of 2007 was $(4.2) million or $(0.45) per diluted share, compared to a net loss of $(252,000) or $(0.03) per diluted share for the third quarter of 2007. Included in the fourth quarter results were charges of $(2.8) million or $(0.30) per diluted share for the full impairment of goodwill related to prior acquisitions and $(535,000) or $(0.06) per diluted share for the partial impairment of certain long-lived assets; both of these impairment charges were in our Manipulator and Docking Hardware product segment. Without these impairment charges, our net loss for the quarter ended December 31, 2007 was $(797,000) or $(0.09) per diluted share. The attached selected financial data includes a table reconciling our net loss excluding impairment charges to our net loss calculated according to Generally Accepted Accounting Principles ("GAAP"). Net revenues for the year ended December 31, 2007 were $48.7 million, compared to $62.3 million for 2006. Our net loss for the year ended December 31, 2007 was $(6.7) million or $(0.73) per diluted share, compared to net income of $2.9 million or $0.31 per diluted share for 2006.
Robert E. Matthiessen, President and Chief Executive Officer of inTEST commented, "The overall market conditions remain challenging. Bookings decreased in the fourth quarter of 2007 to $10.5 million, compared to $11.1 million in the third quarter of 2007. We have commenced a major review of our operations to more aggressively streamline our cost structure in line with this business environment. Our primary objectives underlying this initiative are the return to profitability, the expansion of existing markets and the pursuit of new growth opportunities. During 2007, we continued investing in developing our technologies and reorganizing our distribution channels, with results that we are beginning to see in the form of increased bookings in our Tester Interface product segment during the first quarter of 2008."
Investor Conference Call / Webcast Details
inTEST will review fourth quarter 2007 results today, Wednesday, March 5, 2008 at 5:00 p.m. EST. The conference call will be available at http://www.intest.com/ and by telephone at (201) 689-8560 or toll free at (877) 407-0784. A replay of the call will be available 2 hours following the call through 11:59 p.m. EST on Wednesday, March 12, 2008 at http://www.intest.com/ and by telephone at (201) 612-7415 or toll free at (877) 660-6853. The account number to access the replay is 3055 and the conference ID number is 273735. A transcript of the conference call will be filed as an exhibit to a Current Report on Form 8-K as soon as practicable after the conference call is completed.
About inTEST Corporation
inTEST Corporation is an independent designer, manufacturer and marketer of ATE interface solutions and temperature management products, which are used by semiconductor manufacturers to perform final testing of integrated circuits (ICs) and wafers. The Company's high-performance products are designed to enable semiconductor manufacturers to improve the speed, reliability, efficiency and profitability of IC test processes. Specific products include positioner and docking hardware products, temperature management systems and customized interface solutions. The Company has established strong relationships with semiconductor manufacturers globally, which it supports through a network of local offices. For more information visit http://www.intest.com/.
Forward-Looking Statements:
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not convey historical information, but relate to predicted or potential future events that are based upon management's current expectations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In addition to the factors mentioned in this press release, such risks and uncertainties include, but are not limited to, changes in business conditions and the economy, generally; changes in the demand for semiconductors, generally; changes in the rates of, and timing of, capital expenditures by semiconductor manufacturers; progress of product development programs; increases in raw material and fabrication costs associated with our products; implementation of additional restructuring initiatives; costs associated with compliance with Sarbanes Oxley and other risk factors set forth from time to time in our SEC filings, including, but not limited to, our periodic reports on Form 10-K and Form 10-Q. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
Hugh T. Regan, Jr., Treasurer and Chief Financial Officer,
inTEST Corporation, 856-424-6886, ext 201.
Joseph Villalta of The Ruth Group, 646-536-7003
SELECTED FINANCIAL DATA
(Unaudited)
(In thousands, except per share data)
Condensed Consolidated Statements of Operations Data:
Three Months Ended Year Ended
12/31/2007 12/31/2006 9/30/2007 12/31/2007 12/31/2006
Net revenues $ 11,411 $ 13,159 $ 13,114 $ 48,705 $ 62,346
Gross margin 4,617 5,226 5,133 18,781 26,394
Operating expenses:
Selling expense 1,904 2,001 2,121 8,482 8,955
Engineering and
product development
expense 1,357 1,419 1,364 5,519 5,919
General and
administrative
expense 2,069 1,866 1,970 8,250 7,977
Impairment of
goodwill 2,848 - - 2,848 -
Impairment of
long-lived assets 535 - - 535 -
Restructuring and
other charges - 23 - - 23
Operating income
(loss) (4,096) (83) (322) (6,853) 3,520
Other income (expense) (3) 241 148 392 470
Earnings (loss) before
income taxes (4,099) 158 (174) (6,461) 3,990
Income tax expense 81 77 78 278 1,119
Net earnings (loss) (4,180) 81 (252) (6,739) 2,871
Net earnings (loss)
per share - basic $ (0.45) $ 0.01 $ (0.03) $ (0.73) $ 0.32
Weighted average
shares outstanding
- basic 9,268 9,125 9,216 9,215 9,047
Net earnings (loss)
per share - diluted $ (0.45) $ 0.01 $ (0.03) $ (0.73) $ 0.31
Weighted average
shares outstanding
- diluted 9,268 9,293 9,216 9,215 9,188
Reconciliation of non-GAAP financial measure -- net loss to net loss
excluding impairment charges
Net earnings (loss) (4,180) 81 (252) (6,739) 2,871
Impairment of
goodwill 2,848 - - 2,848 -
Impairment of
long-lived assets 535 - - 535 -
Net earnings (loss)
excluding impairment
charges (797) 81 (252) (3,356) 2,871
Per Share Amounts - Diluted
Net earnings (loss) $ (0.45) $ 0.01 $ (0.03) $ (0.73) $ 0.31
Impairment of
goodwill $ 0.30 $ - $ - $ 0.30 $ -
Impairment of
long-lived
assets $ 0.06 $ - $ - $ 0.06 $ -
Net earnings (loss)
excluding impairment
charges $ (0.09) $ 0.01 $ (0.03) $ (0.37) $ 0.31
We believe the adjusted net loss excluding impairment charges provides a meaningful insight into our operations by adjusting for material unusual items. Non-GAAP numbers should be read in conjunction with the GAAP measures, as non-GAAP metrics are merely supplemental to, and not a replacement for, GAAP financial measures. It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.
Condensed Consolidated Balance Sheets Data:
As of:
12/31/2007 9/30/2007 12/31/2006
Cash and cash equivalents $ 12,215 $ 10,659 $ 13,174
Trade accounts and notes receivable,
net 6,034 7,873 8,678
Inventories 5,097 6,149 6,193
Total current assets 24,464 25,938 28,803
Net property and equipment 2,198 2,845 3,328
Total assets 27,723 32,602 35,759
Accounts payable 1,923 2,858 3,145
Accrued expenses 3,545 3,753 4,169
Total current liabilities 5,815 6,902 8,410
Noncurrent liabilities 401 432 527
Total stockholders' equity 21,507 25,268 26,822
inTEST Corporation
CONTACT: Hugh T. Regan, Jr., Treasurer and Chief Financial Officer, inTEST Corporation, +1-856-424-6886, ext. 201; or Joseph Villalta of The Ruth Group for inTEST Corporation, +1-646-536-7003
Web site: http://www.intest.com/
Defense Advanced Research Projects Agency (DARPA) Awards F6 Satellite Program Contract to Lockheed Martin
PALO ALTO, Calif., March 5 /PRNewswire/ -- A team headed by Lockheed Martin Space Systems Company (LMSSC) has received a $5.7 million contract from DARPA to compete in Phase 1 development of their System F6 space technology and demonstration program. F6 is shorthand for "Future, Fast, Flexible, Fractionated, Free-Flying Spacecraft United by Information Exchange."
The DARPA System F6 program intends to demonstrate that a traditional, large, monolithic satellite can be replaced by a group of smaller, individually launched, wirelessly networked and cluster-flown spacecraft modules. Each "fractionated" module can contribute a unique capability to the rest of the network, such as computing, ground communications, or payload functionality. The ultimate goal of the program is to launch a fractionated spacecraft system and demonstrate it in orbit in approximately four years.
"Our team brings together the perfect combination of innovation, expertise, experience and past performance to successfully demonstrate the value and flexibility of a fractionated approach to satellite systems," said Dr. Jim Ryder, vice president of the Lockheed Martin Space Systems Advanced Technology Center (ATC) in Palo Alto. "For our 12 Month Phase 1 preliminary design effort, we will evaluate fractionation technologies and system econometrics, simulate the fractionated space network mission with our extensive space-qualified hardware-in-the-loop (HIL) and Controls & Automation Laboratory testbeds and work closely with our DARPA partner to conduct a thorough stakeholder analysis to identify potential mission partners."
The Lockheed Martin effort comprises a multi-disciplinary team of leaders for all System F6 technology pillars. The ATC delivers advanced research in space system network architectures and control for fractionation. The LMSSC Surveillance & Navigation Systems (SNS) line of business delivers experience in mission partner concepts and fielding SmallSats for proximity operations. Lockheed Martin Information Systems & Global Services (IS&GS) delivers ground systems. Other teammates include Colbaugh & Heinsheimer (supported by several Stanford University professors), Aurora Flight Sciences (supported by several MIT professors), and Vanderbilt University.
The ATC is the research and development organization of Lockheed Martin Space Systems Company (LMSSC). LMSSC, a major operating unit of Lockheed Martin Corporation, designs, develops, tests, manufactures and operates a full spectrum of advanced-technology systems for national security, civil and commercial customers. Chief products include human space flight systems; a full range of remote sensing, navigation, meteorological and communications satellites and instruments; space observatories and interplanetary spacecraft; laser radar; fleet ballistic missiles; and missile defense systems.
Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2007 sales of $41.9 billion.
Buddy Nelson, (510) 797-0349; e-mail, buddynelson@mac.com,
For additional information about Lockheed Martin, visit our website:
http://www.lockheedmartin.com/
Lockheed Martin
CONTACT: Buddy Nelson, +1-510-797-0349, buddynelson@mac.com, for Lockheed Martin
Web site: http://www.lockheedmartin.com/
InRob Continues International Expansion: Secures Manufacturing Facilities in the Philippines
LAS VEGAS, March 5 /PRNewswire-FirstCall/ -- InRob Tech Ltd. ("InRob") (BULLETIN BOARD: IRBL) a leader in advanced wireless control systems for unmanned ground vehicles (UGV), today announced it has secured use of premises in the Philippines on a full turnkey basis. The premises include floor space, utilities, equipment and machinery that can be used to manufacture various components of mobile robots and other products for both civilian and military applications. These products will be marketed and sold by InRob and its strategic partners.
Under the terms of the agreements, InRob has the capabilities to manufacture products with a total value of up to $28,500,000. Full details of this agreement are included in the Form 8-K recently filed with the SEC.
"International expansion is an integral part of our corporate strategy," says Ben Tsur Joseph, InRob's President. "This agreement secures important and advanced manufacturing facilities for our world-wide operations. We are seeing very strong market interest in our wireless remote control systems and robot solutions, and these facilities will enable us to meet the demand for our products in 2008 and beyond. This agreement also gives us a strong base in the important Asia Pacific region and the ability to react quickly to our customers' needs. This is particularly critical for our military customers who face constantly changing tactical environments and require solutions as quickly as possible."
About InRob
InRob is an Israeli-based high-tech company specializing in the planning, manufacturing and service support of advanced wireless and remote control systems, operating all types of robots and other vehicles. The Company is Israel's leader in its field, and supports the IDF (Israeli Defence Forces), Israeli police, and other military and civilian companies dealing with security. Founded in 1988, the Company works closely with other high-tech companies to provide the most advanced and comprehensive UGV solutions on the market.
For more information, please visit our web site at http://www.inrobtech.com/.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward- looking statements that may involve risks and uncertainties.
There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward- looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.
InRob Tech Ltd.
CONTACT: Mr. Nissim Lavi of InRob Tech Ltd., +1-866-668-2929
Web site: http://www.inrobtech.com/
Mikros Design Tools To Be Used by U.S. Navy for New Shipboard Wireless Networks
PRINCETON, N.J., March 5 /PRNewswire-FirstCall/ -- Mikros Systems Corporation (BULLETIN BOARD: MKRS) , announced today a significant expansion of the Company's wireless network planning activity with the U.S. Navy.
Under the SBIR program, the Navy has funded Mikros and subcontractor Mobilisa, Inc. (Port Townsend, WA) to develop a Shipboard Wireless Network Design Tool, designated AIRchitect-EMC. This tool is a result of a joint software development between Mobilisa and Mikros over the past several years.
The Navy eventually plans to install wireless networks on 34 L-class amphibious ships. The Office of Naval Research (ONR) has funded a pilot program, known as Classified Wireless Network for Embarked Forces, to install networks on the first two ships of the class. The proposed Mikros program will use the AIRchitect-EMC software to support wireless network design and installation for the lead LHD, a very large amphibious assault ship for Marine Corps missions. Mikros engineers visited one LHD ship in San Diego in January 2008 and plan another pre-install survey in May. Mikros will work closely with the Navy's wireless network experts in Charleston, South Carolina and San Diego, California.
The Company anticipates that new opportunities for applications using AIRchitect-EMC to design wireless networks for different ship classes, including other amphibious ships and aircraft carriers, will be increasing in the coming months. The Company is currently negotiating a similar program for one of the new Navy aircraft carriers.
About Mikros
Mikros Systems Corporation is an advanced technology company specializing in the research and development of electronic systems technology primarily for military applications. Classified by the U.S. Department of Defense as a small business, its capabilities include technology management, electronic systems engineering and integration, radar systems engineering, combat/command, control, communications, computers and intelligence systems engineering, and communications engineering. Mikros' primary business is to pursue and obtain contracts from the Department of Homeland Security, U.S. Navy, and other governmental authorities.
Important Information about Forward-Looking Statements: All statements in this news release other than statements of historical facts are forward- looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial positions to differ materially from those included within the forward-looking statements. Such factors include, but are not limited to, changes in business conditions, changes in our sales strategy and product development plans, changes in the marketplace, continued services of our executive management team, our limited marketing experience, competition between us and other companies seeking SBIR grants, competitive pricing pressures, market acceptance of our products under development, delays in the development of products, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-KSB for the year ended December 31, 2006 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date hereof.
Mikros Systems Corporation
CONTACT: Thomas J. Meaney of Mikros Systems Corporation, +1-609-987-1513
Web site: http://www.mikros.us/
Landstar Named to Fortune Magazine's List of 'America's Most Admired Companies' for Fifth Consecutive Year
JACKSONVILLE, Fla., March 5 /PRNewswire-FirstCall/ -- Landstar System, Inc., a safety-first non-asset based provider of transportation and logistics services, announced its selection to Fortune magazine's 2008 list of "America's Most Admired Companies." The recognition marks Landstar's fifth consecutive year on the list of rankings acknowledging corporate excellence. Landstar ranked third among companies in its industry.
"We're honored to be chosen once again as one of America's Most Admired Companies," said Landstar President and CEO Henry Gerkens. "The recognition is a direct reflection of the contributions made by Landstar independent sales agents, third-party capacity providers and employees."
Now in its 26th year, the selection of America's Most Admired Companies by Fortune and its consulting partner, the Hay Group, is based on the revenue of the 1,000 largest U.S. companies and the top foreign companies operating in the U.S. The companies are sorted and the 10 largest companies in each industry are selected. Executives, directors and financial analysts are then asked to rate companies in each industry on eight criteria, ranging from innovation to quality of products/services. According to Fortune, "the Most Admired list is the definitive report on corporate reputations."
Fortune's special report on America's Most Admired Companies appears in the March 17, 2008 issue. The complete list can also be found on http://www.money.cnn.com/magazines/fortune/rankings.
About Landstar:
Landstar System, Inc. delivers safe, specialized transportation and logistics services to a broad range of customers worldwide. The Company identifies and fulfills shippers' needs through the coordination of individual businesses comprised of independent sales agents and third-party transportation capacity providers. Landstar's carrier group, which is comprised of Landstar Express America, Inc., Landstar Gemini, Inc., Landstar Inway, Inc., Landstar Ligon, Inc., Landstar Ranger, Inc. and Landstar Carrier Services, Inc., delivers excellence in complete over-the-road transportation services. Landstar Global Logistics, Inc. is a third party logistics company, providing international and domestic multimodal (over-the-road, air, ocean and rail) transportation, contract logistics and warehousing services. All Landstar operating companies are certified to ISO 9001:2000 quality management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. Its common stock trades on The NASDAQ Stock Market(R) under the symbol LSTR.
Landstar System, Inc.
CONTACT: Ginger Whitcher, Landstar System, Inc., +1-904-390-1457
Web site: http://www.landstar.com/ http://www.money.cnn.com/magazines/fortune/rankings
TRX and COA Solutions Partner Offer New Card Management ServicesAlternative Payment Solution Helps Airlines Reduce Distribution Costs & Increase Service to Customers
ATLANTA and LONDON, March 5 /PRNewswire-FirstCall/ -- TRX, Inc. , a global technology company that develops and hosts software applications to process travel and financial data records and automate manual processes, and COA Solutions Ltd, a business applications software company, today announced the launch of a joint Card Management Services solution for airlines desiring to lower their distribution costs and credit card fees.
The solution supports the airlines' corporate direct invoicing and payment solutions as well as the Universal Air Travel Plan (UATP) network. In production since October 2007, the system is already processing approximately $600 million on an annualized basis in UATP and various payment products for a major North American airline.
COA and TRX's hosted solution makes it easy for airlines to run their own payment and UATP programs through an outsourced transaction processing and business intelligence platform. The hosted card management solution, which also provides industry-leading business intelligence and ERP integration, helps reduce carriers' operating costs, increase service to corporate customers, improve customer loyalty, increase market share, and reduce credit card fees.
The corporate travel arena has recently started to focus on the cost savings opportunities related to payment processing fees for corporate travel expenses. According to Pascal Burg, Edgar Dunn & Company, airline ticket purchases by credit card include fees amounting to 2.5% or more of the cost of the ticket. The UATP corporate travel payment network offers airlines a low- cost payment option, better enabling them to pass savings along to corporate travelers.
Said TRX President & CEO Trip Davis, "While helping carriers reduce distribution costs and increase service to their corporate customers, COA and TRX's Card Management Services help airlines provide corporations better data, better reporting, and better economics. We are very excited to expand our travel and financial data expertise to the airlines in partnership with COA. We are looking forward to demonstrating the value of our integrated and hosted card management and business intelligence platform to our airline clients and their corporate customers."
COA and TRX have integrated key components of their technology suites - the COA e5 Card Management software and TRX's DATATRAX file delivery and business intelligence platforms - to create end-to-end corporate Card Management Services. TRX is hosting the platform, building on its 20-year history of data consolidation, warehousing, and business intelligence for the travel and financial services arenas. In addition to leading edge technology from COA and TRX, the scalable solution provides proven data security and business continuity, freeing airlines to focus on their core business.
Mark Thompson, Managing Director, COA, said, "All service industries like the airline market have a real opportunity to increase profitability and customer experience by outsourcing and improving the management of their core business processes. The COA platform, coupled with TRX's expertise in hosted financial applications, offers the global airlines an immediate opportunity to realize these benefits."
The TRX/COA Card Management Services package offers airlines the following features and benefits:
* Manages corporate discounts and rebates per client, per route
* Bills in any local currency
* Support direct debits
* Stores two years of data allowing for year-over-year reporting
* Emails statements directly to corporations
* Provides corporations with online reporting and business intelligence
-- Issuer and corporate access to a library of standard card-based
reports
-- "Power users" can create ad-hoc reports at no additional expense
-- Reporting User Interface supports 10 languages and two dialects of
English and Chinese
-- GSA SmartPay complaint reporting
* Ability to send ERP and Expense Management files directly to the
corporate accounts
* Integrates currently with all UATP systems
* Includes a Continuity of Business site and 24x7 application monitoring
About TRX
TRX is a global technology company. We develop and host software applications that process data records and automate manual processes, enabling our clients to optimize performance and control costs. We are a leading provider to the travel industry and are expanding into financial services and healthcare. We deliver our technology applications in an on- demand environment to travel agencies, corporations, travel suppliers, government agencies, credit card associations, credit card issuing banks, and third-party administrators. TRX is headquartered in Atlanta with operations and associates in North America, Europe, and Asia.
About COA Solutions
COA Solutions (formerly CedarOpenAccounts) is a leading supplier of integrated business management and information systems to public, private and not-for-profit service sector organisations.
COA's Smart Business Suite of applications combines core financial management, procurement, human resource and payroll systems, integrated with a range of collaborative, document management and business intelligence solutions. These capabilities extend the value and effectiveness of the Finance, HR & Payroll departments across the organisation and enable managers in the business to monitor, analyse and continually improve corporate performance.
COA has more than 450 experienced professional staff supporting and servicing over 3,000 clients across Service sectors worldwide, including British Airways, US Airways, Royal Bank of Scotland, Aer Lingus, London City Airport, Nuance Group, British Airways Regional Cargo, Jet2.com and GB Airways.
For more information visit http://www.coasolutions.com/ or contact marketing@coasolutions.com
TRX, Inc.
CONTACT: Kira Perdue of Trevelino-Keller Communications Group for TRX, Inc., +1-404-214-0722, ext. 101, kperdue@trevelinokeller.com; or Rob Skinner, +44 (0)161 435 6520, Mobile: +44 (0)7899 997080, or Martine Levene, +44 (0)161 435 6462, Mobile, +44 (0)799 0628 304, both of Chameleon PR Ltd for COA Solutions Ltd,
Web site: http://www.trx.com/ http://www.coasolutions.com/
LSI to Showcase Accelerator Technology Using Microsoft Silverlight at Microsoft MIX08 ConferenceLSI(TM) Tarari(R) providing technology that enables acceleration of content creation using Microsoft(R) Silverlight(TM) platform
LAS VEGAS, March 5 /PRNewswire-FirstCall/ -- LSI Corporation , a leader in deep packet inspection silicon, today announced that it is supplying accelerator technology for Microsoft Silverlight. Silverlight is a cross-browser, cross-platform plug-in for delivering the next generation of media experiences and rich interactive applications for the web. LSI offers capabilities to the Silverlight platform that result in shorter time to market for developers creating complex video applications for the online video, broadcast and High Definition DVD markets. LSI's silicon components for Silverlight result in a high performance system for content developers and hardware OEMs.
LSI has adapted its deep packet inspection (DPI) technology to create a deep frame inspection (DFI) capability. In contrast to DPI, which looks for viruses and intrusive code in packets, DFI examines each frame of video to calculate what has changed from the previous frame. The result is a compressed video stream -- up to 10 to 1 -- that enables richer video formats such as high-definition to be streamed over the Internet or corporate networks and saved efficiently on storage systems while still maintaining a high level of video quality.
LSI will demonstrate its LSI Tarari Encoder Accelerator (TEA) for Windows Media(R) accelerating the Microsoft Expression(R) Encoder at the upcoming MIX08 conference, March 5-7, 2008, at the Venetian Resort Hotel Casino in Las Vegas.
Web developers now can design new applications that efficiently include video content that can be merged with live data to create a layered application of multiple data types. Previously, it was time consuming to create those applications because of the long encoding time for video objects. LSI's implementation of Silverlight turns the possible into the practical by accelerating the underlying Microsoft Windows Media codec while maintaining a high degree of video quality for standard or high-definition output on a fully compliant, production ready, Windows VC-1-based codec SDK platform.
"The collaboration between LSI and Microsoft is strategic as exemplified by our charter membership in the Silverlight Partner Initiative," said Jim Wilson, Director of Engineering Programs at LSI. "Close involvement and long-term interaction between Microsoft and LSI developers have been key to delivering LSI-enabled Silverlight products. As more and more content-aware applications are developed, LSI's key technologies will be used to help deliver efficient storage, networking and video solutions on the Microsoft platform."
Brian Goldfarb, group product manager in the Developer Division at Microsoft Corp. said, "We are pleased to have LSI engineers working directly with our development teams to enable hardware acceleration for Silverlight."
About LSI
LSI Corporation is a leading provider of innovative silicon, systems and software technologies that enable products which seamlessly bring people, information and digital content together. The company offers a broad portfolio of capabilities and services including custom and standard product ICs, adapters, systems and software that are trusted by the world's best known brands to power leading solutions in the Storage and Networking markets. More information is available at http://www.lsi.com/.
Editor's Notes:
1. All LSI news releases (financial, acquisitions, manufacturing, products,
technology, etc.) are issued exclusively by PR Newswire and are
immediately thereafter posted on the company's external website,
http://www.lsi.com/.
2. LSI, Tarari, and the LSI logo design are trademarks or registered
trademarks of LSI Corporation.
3. Microsoft, Silverlight, Windows Media, and Expression are trademarks or
registered trademarks of Microsoft Corporation.
4. All other brand or product names may be trademarks or registered
trademarks of their respective companies.
LSI Corporation
CONTACT: Dan Devine of LSI Corporation, +1-610-712-6802, dan.devine@lsi.com
Web site: http://www.lsilogic.com/
ID Media Partners with FIT to Cultivate Tomorrow's Direct Marketers
NEW YORK, March 5 /PRNewswire/ -- ID Media, the largest direct and digital media services company in the U.S., has recently partnered with the Fashion Institute of Technology's Direct and Interactive Marketing program to help provide insight and industry experience for today's students and tomorrow's direct marketing professionals. In the rapidly developing world of direct and interactive business, the partnership aims to help educate and inform students of advancement and progress in the industry. It will also allow students the opportunity to get a glimpse of the many innovative career options that are now available for those interested in a direct and interactive marketing career.
Says Roberta Elins, Associate Chair of FIT's Direct and Interactive Marketing department, "We are very excited to work with ID Media, a leading practitioner in the direct and digital space. When they come into the classroom with us, they take the discussion from the conceptual to the practical, and it's particularly powerful since they work with many of the world's best marketing companies."
ID Media's primary role in the partnership will be to provide speakers for courses on a range of direct and digital topics. For example, ID Media recently presented a session in February on emerging media. This session provided core content on video on demand, mobile, podcasts, blogs, RSS, interactive TV, and interactive programming guides. In addition, ID Media shared insights about the reach and pricing of these emerging vehicles and how to incorporate them into a direct marketing program.
"We are delighted to work with students from FIT. A number of the 'stars' I've known during my career have come out of FIT. The fact that FIT is so attuned to direct and digital media promises that we'll continue to see top talent emerging from their classrooms," says ID Media Chairman and CEO, Lynn Fantom.
The only college to offer a bachelor's degree program in Direct and Interactive Marketing, FIT exposes students to a full spectrum of industries and companies using direct and interactive marketing, as well as a wide variety of internship opportunities, mentors, and speakers. Hands-on experience includes developing multifaceted direct and interactive marketing campaigns for actual products and a required internship at one of New York's many companies and agencies currently using direct and interactive marketing. The faculty work and consult in the field, so they're at the forefront of the latest developments in this rapidly expanding industry. In addition, FIT's membership in the Direct Marketing Educational Foundation provides students and faculty with extensive industry support.
About FIT
FIT is a college of art and design, business and technology of the State University of New York (SUNY). It offers more than 45 majors leading to the AAS, BFA, BS, MA, and MPS degrees.
About ID Media
ID Media helps leading advertisers profit in today's fast-changing media marketplace. The company, which is the largest direct and digital media services company in the country, delivers the best possible return on media investments because of its superior rates, research resources, and reporting systems. ID Media serves clients including American Express, Brink's Home Security, CA, HBO, Jamaica Tourism, Johnson & Johnson, Kaiser Permanente, Nautilus, Nikon, SC Johnson, and Verizon from locations in New York, Chicago, and Los Angeles. ID Media is part of The Interpublic Group of Companies .
ID Media
CONTACT: Emily A. Burns of ID MEDIA, +1-212-907-7007, eburns@idmediaww.com; or Cheri Fein of FIT, +1-212-217-4700, Cheryl_fein@fitnyc.edu
Web site: http://www.idmediaww.com/
Verizon and Web Wise Kids Join Forces to Educate Youth on the Responsible Use of the Internet and Cell Phones$300,000 Grant Funds Creation of Educational Game to Thwart Thieves, Hackers, Predators
BURBANK, Calif., March 5 /PRNewswire/ -- Web Wise Kids, a national nonprofit dedicated to empowering youth to make wise choices online, will help teach young people how to use wireless phones safely and responsibly, thanks to a $300,000 grant from Verizon.
The grant will enable Web Wise Kids to develop and distribute a new educational Internet safety game especially designed to help young people establish safe and responsible behavior when they are online or using wireless phones, and safeguard them from being victimized by predators, hackers and thieves.
The teen and pre-teen cell phone market has grown exponentially, making educating youth about wireless and online safety a critical issue.
"Verizon's goal is to build America's best wireless and fiber-optic networks while ensuring that our customers have the best possible experience using those networks," said Verizon West Region President Tim McCallion. "This program furthers that goal by creating a dynamic and engaging educational game to teach young people how to protect themselves online and enjoy all the positive aspects of the technological revolution."
Judi Westberg Warren, president of Web Wise Kids, said: "The goal is to provide parents, law enforcement and educators with an innovative program to help youth understand the importance of using the Internet and cell phones responsibly. We are most grateful to Verizon for its generous support and vision in this area. This new partnership will provide answers to the questions that young people have about the new frontier in modern communications."
The grant, funded by the Verizon Foundation, was announced in Burbank at the California Cyber Security Summit 2008 presented by the California Department of Consumer Affairs, California Office of Privacy Protection and State and Consumer Services Agency.
Los Angeles County Sheriff Lee Baca, who joined with Web Wise Kids and Verizon in announcing the grant, said: "In this modern day of communication technology, many young people are subject to many challenges, so I applaud Web Wise Kids and Verizon for taking innovative steps to protect our young people against the inappropriate use of technology."
Other summit attendees included Katie Canton, ambassador to youth for Web Wise Kids. When she was 15, Canton was contacted online by someone who convinced her that they were in love. Through playing one of Web Wise Kids' games, she realized that she was being taken in by an online predator.
Support for the Web Wise Kids project is part of Verizon's ongoing effort to educate its customers about ways technology can benefit them and offer tools that put more control in the hands of consumers. Examples of Verizon's commitment to the safe, secure and smart use of technology include:
-- Strong cyber-security tools, including content, spam and virus filters,
to safeguard customers' personal information and their PCs, and robust
parental controls for Verizon's TV and Internet services.
-- An active online-safety education program designed for kids, parents
and community organizations.
-- A long history of working cooperatively with law enforcement in the
investigation of online criminal activity, including fighting child
pornography. Through these efforts Verizon has played an important
role in securing the safe return of missing children, even in saving
lives.
-- Verizon Wireless' Chaperone service, which helps parents locate their
children, and an option for wireless phone users to receive Amber Alert
text messages regarding child abductions.
-- The option to block wireless text messages -- either entirely or from
specific numbers -- through http://www.vtext.com/.
About the Verizon Foundation
The Verizon Foundation supports the advancement of literacy and K-12 education through its signature program, Thinkfinity.org, and fosters awareness and prevention of domestic violence. In 2007, the Foundation awarded more than $67.4 million in grants to nonprofit agencies in the United States and abroad. The Foundation also matched the charitable donations of Verizon employees and retirees, resulting in $25.1 million in combined contributions. Through Verizon Volunteers, one of the nation's largest employee volunteer programs, Verizon employees and retirees have volunteered more than 3 million hours of community service since Verizon's inception in 2000.
For more information on the foundation, visit http://www.verizon.com/foundation.
About Web Wise Kids
Web Wise Kids (WWK), established in 2000, is a nonprofit organization that receives partial funding from the U.S. Congress through the Office of Juvenile Justice and Delinquency Prevention, Office of Justice Programs. WWK is dedicated to empowering today's youth to make wise choices online and specializes in providing easy to use, school-approved Internet safety education for youth ages 11 to 16. Today's e-generation is taught valuable lessons in their own medium using computer games with high tech simulations based on real life criminal cases. For more information about Web Wise Kids please visit http://www.webwisekids.org/.
Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving nearly 66 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of nearly 235,000 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Verizon
CONTACT: Jon Davies of Verizon, +1-805-372-6969, jon.davies@verizon.com; or Mary Davis of Web Wise Kids, +1-714-435-2885 Ext. 204, maryd@webwisekids.org
Web site: http://www.verizon.com/ http://www.webwisekids.org/ http://thinkfinity.org/ http://www.vtext.com/
Company News On-Call: http://www.prnewswire.com/comp/094251.html
Microsoft Unlocks the Power of the Web for Connected Customer ExperiencesUnveiled at MIX08, new releases of Microsoft Internet Explorer, Microsoft Silverlight and Microsoft Expression Studio provide Web developers and designers with game-changing benefits and business opportunities.
LAS VEGAS, March 5 /PRNewswire-FirstCall/ -- At MIX08, Microsoft Corp.'s Web designer and developer conference, Microsoft demonstrated the power of its platform to enable delivery of richer, more interactive customer experiences on the Web. Backed by major customers including AOL, Aston Martin, Cirque du Soleil, Hard Rock and NBCOlympics.com on MSN, Microsoft unveiled the next generation of its Web technologies with beta releases of Internet Explorer 8, Silverlight 2 and Expression Studio 2. Additional MIX08 news included a preview of Microsoft SQL Server Data Services, the announcement of a strategic relationship with Move Networks Inc., and DoubleClick Inc.'s preview of its Silverlight 2 software development kit (SDK) for in-stream advertising.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)
In Wednesday's MIX08 keynote address, Ray Ozzie, chief software architect, shared his vision for the role of the Web and the services opportunity across Microsoft businesses. Dean Hachamovitch, general manager of the Internet Explorer team, demonstrated new features in Internet Explorer 8 for Web developers and end users, and Scott Guthrie, corporate vice president of the .NET Developer Division, highlighted advances in Silverlight, Expression Studio and Visual Studio that make it easier to deliver rich, connected experiences on the desktop, Web and beyond.
"The Web is at the center of everything Microsoft is doing," Ozzie said. "The investments we're making will enable developers and designers to deliver a range of seamless, connected experiences across the continuum of Web applications, rich clients, mobile and other devices."
With a focus on bridging developer-to-designer workflow while providing a common development model across a range of form factors and devices, Microsoft introduced advancements to the following tools and technologies:
-- First public beta of Internet Explorer 8. Internet Explorer 8 is the
next version of Microsoft's popular browser, and in beta 1 it delivers
significantly improved standards support and developer platform
investments with enhanced user experiences. Internet Explorer 8 beta 1
delivers increased interoperability, offers developers better
predictability when designing sites, and will feature full support for
cascading style sheet (CSS) 2.1 at release to manufacturing. Internet
Explorer 8 beta 1 includes integrated developer tools to quickly debug
HTML, CSS and scripts in a visual environment. Two new features,
Activities and WebSlices, will enable developers to reach beyond the
page and introduce news ways for users to stay connected to the
content and services of their choice. To download Internet Explorer 8
beta 1, developers can visit http://www.microsoft.com/ie/ie8.
-- Silverlight 2 beta available for download; support for mobile devices.
Microsoft Silverlight answers customer desire for rich, cross-platform
media and "zero-click" applications that match the rich interactive
application experience while bringing the robustness and power of
Microsoft .NET to the browser. Silverlight 2 beta includes innovative
new features like Deep Zoom, more than 40 new controls and a rich .NET
base class library of functionality. In addition to the beta release,
Microsoft announced plans to deliver Silverlight for Windows Mobile
and to work with Nokia on support for S60 on Symbian OS, the world's
leading smartphone software, as well as for Series 40 devices and
Nokia Internet tablets. To download Silverlight 2 beta and learn about
Silverlight for devices, developers can visit
http://www.microsoft.com/silverlight.
-- Expression Studio 2 beta. Today Microsoft released a beta of
Expression Studio 2, designed to work seamlessly with Visual Studio,
enabling designers and developers to collaborate on the creation of
better user experiences. Key new features of Expression Studio 2
include PHP support in Expression Web and support for Silverlight in
Expression Web, Expression Blend, Expression Media Encoder and
Expression Design. To enable designers to start immediately exploring
the power of Silverlight 2, Microsoft also announced the availability
of Expression Blend 2.5 March 2008 Preview. Microsoft also introduced
the Expression Professional Subscription, which includes the full
suite along with a number of other programs to help users get started
at an exceptional value. To download Expression Studio developers can
visit http://www.microsoft.com/expression.
Silverlight Shines
MIX08 features a diverse set of customers and partners demonstrating rich Web applications that enable new business opportunities. With an average of 1.5 million daily downloads of the Silverlight plug-in, thousands of existing Silverlight applications and more than 85 members in the Silverlight Partner Initiative, Silverlight is attracting industry-leading content providers, content delivery networks, design agencies, ISVs and solution providers.
As demonstrated on stage, AOL, Aston Martin, Cirque du Soleil, Hard Rock and NBCOlympics.com on MSN have selected Silverlight for their Web applications due to its high performance capabilities, integration with the .NET Framework and customizable advertising opportunities.
"NBCOlympics has always taken the lead in bringing Olympics fans immersive experiences through in-depth analysis and leading technology," said Perkins Miller, senior vice president of Digital Media for NBC Sports & Olympics. "Working with Microsoft Silverlight, we will again push the boundary of sports coverage by delivering a new level of rich, high-quality viewing to the Web for the 2008 Olympic Games."
Microsoft is also working with a broad set of customers and partners in the ad-serving, analytics, creative agency and content delivery network sectors. Today, DoubleClick demonstrated its Silverlight 2 SDK for in-stream advertising. Content publishers that deliver video content will be able to use this SDK within a Silverlight environment to target, serve, forecast and report on video-based advertising.
Microsoft Announces Strategic Relationship With Move Networks
Microsoft announced plans for a strategic alliance with Move Networks, a leading provider of live and on-demand long-form video content such as television episodes, news and sports programming. Silverlight would enable Move Networks to deliver an interactive, rich media navigation and integrated advertising on top of its hallmark high-quality online television experience that reaches all the way to HD. Move Networks' current customers include some of the largest media companies in the world such as ABC, FOX Broadcasting Company, ESPN, the CW, Televisa and others. These customers use Move Networks to stream their most popular shows including "Grey's Anatomy," "Terminator: The Sarah Connor Chronicles" and "Lost."
"Our strategic relationship with Microsoft represents a natural progression in the rapid evolution of online video delivery," said John Edwards, CEO of Move Networks. "Microsoft Silverlight is emerging as a platform of choice for media companies seeking a reliable and highly configurable environment for the creation of rich video content. The integration of Move Networks' streaming technology with Silverlight will allow customers to deliver the highest-quality viewing experience available online -- driving online revenue and a competitive edge in a crowded marketplace."
Microsoft SQL Server Data Services Preview
Microsoft also announced a new building-block software service, Microsoft SQL Server Data Services. The service is designed for developers building Web-based applications that need a scalable, easily programmable and highly available utility-based data store. MIX08 attendees will be able to register for a preview of SQL Server Data Services.
About Microsoft
Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Microsoft Corp.
CONTACT: Rapid Response Team, Waggener Edstrom Worldwide, +1-503-443-7070, rrt@waggeneredstrom.com, for Microsoft Corp.
Web site: http://www.microsoft.com/
Zix Corporation's ZixDirectory(TM) Marks Industry Record with 10 Million Email Encryption MembersWorld's largest email encryption directory accelerates growth
DALLAS, March 5 /PRNewswire-FirstCall/ -- Zix Corporation (ZixCorp(R)), , the leader in hosted services for email encryption and e-prescribing, today announced that its ZixDirectory, the foundation of ZixCorp's outsourced email encryption service, marked an industry first: 10 million members. The ZixDirectory members represent everyone who sends or receives encrypted email using ZixCorp's Email Encryption Service. The growth rate of the ZixDirectory has increased over the last 18 months from an average of 45,000 new members per week to an average of over 70,000 new members per week since the beginning of 2008.
ZixDirectory connects all ZixCorp customers for seamless, transparent, and secure email. There are more than 1,000 hospitals in the directory, more than 30 Blues organizations, 500 financial institutions, the federal banking regulators, 19 state banking regulatory agencies and a growing number of federal, state and county governments. These customers, plus many more, secure email among themselves with no need for user intervention.
"ZixDirectory offers the perfect solution for securing email to protect the communication of sensitive data -- beyond its ease of implementation, it offers flexible delivery options that are compatible with any recipient's needs, ensuring that we are both productive and compliant," said Don Smith, information security officer for STAR Financial Group, the parent company of STAR Financial Bank with more than $1.4 billion in assets and 40 banking centers in Indiana. "Through ZixDirectory, we can seamlessly and securely exchange protected information with our financial regulators, all of which utilize ZixCorp email encryption for secure communications."
"ZixDirectory is the core of our Email Encryption Service," said Nigel Johnson, vice president of business development and product management for ZixCorp. "Our system architecture was specifically built to connect communities of interest. Less sophisticated systems create secure silos, which is like having a separate telephone for every one of your friends. Like an advanced phone network, ZixDirectory ties our customers together creating simple connectivity for everyone from just one service. Both our existing and prospective users benefit from the 'network effect,' where the value of the ZixDirectory grows exponentially as we add new members."
About Zix Corporation
ZixCorp is the leading provider of easy-to-use-and-deploy email encryption and e-prescribing services that Connect entities with their customers and partners to Protect and Deliver sensitive information in the healthcare, finance, insurance and government industries. ZixCorp's hosted Email Encryption Service provides an easy and cost-effective way to ensure customer privacy and regulatory compliance for corporate email. Its PocketScript(R) e-prescribing service saves lives and saves money by automating the prescription process between payors, doctors and pharmacies. For more information, visit http://www.zixcorp.com/.
Zix Corporation
CONTACT: Public Relations, Farrah Corley, +1-214-370-2175, publicrelations@zixcorp.com, or Investor Relations, Peter Wilensky, +1-214-515-7357, invest@zixcorp.com, both of Zix Corporation
Web site: http://www.zixcorp.com/
Teltronics Wins the Von Magazine Innovator AwardThe Magazine Recognized Teltronics' Cerato SE, as One of the Top Hardware Products Available to the Small Business Market
NORWOOD, Mass., March 5 /PRNewswire-FirstCall/ -- Teltronics, Inc. (BULLETIN BOARD: TELT) , a leading provider of communication solutions and services, today announced that it has received the 2008 VON Magazine Innovator Award for Hardware, which is the foremost listing of innovative companies that represent the future of the Internet Communications industry. Teltronics has been named to the list due to its state-of-the-art, Cerato SE communications solution, which accommodates the needs for Small Enterprises.
For over thirty-nine years, Teltronics, Inc. has been dedicated to the excellence in the design, development and manufacture of hardware and software that enhances the performance of communications networks. Teltronics' reputation in the industry has afforded it long-term customers, including: the largest school district in the USA, 99% of the Federal Bureau of Prisons, government networks in Mexico, Central and South America, the Middle East and Asia and major public telephone operating companies worldwide.
Teltronics' innovation in the communications industry expanded into the growing small business market with the introduction of the Cerato SE in 2007. The Cerato SE integrated all the communication needs of a small business into a single platform, including digital and Voice over IP (VoIP) communication, voice mail, automated attendant, unified messaging and computer telephony.
"The Von Magazine Innovator Awards recognize the Internet Communications industry's best and brightest companies, and we are pleased to include Teltronics as an inaugural winner, " said Bill Sell, Publisher, VON Media Group. "Companies like Teltronics should take pride in their accomplishments, because, the selection committee unanimously felt as though Teltronics' Cerato SE stood apart from the large field of companies that participated in the nomination process."
"Teltronics is honored to be a prominent leader in the Internet Communications industry," Ewen Cameron, President and CEO for Teltronics said. "Teltronics' reputation of providing cutting-edge products, reliable performance and personal interaction to all of our customers continues to be our top priority."
Teltronics will be listed as an award winner in the March/April print edition of VON Magazine, on-line at http://www.vonmag.com/ on March 7, 2008 and through the von: focus electronic newsletter received by 90,000 subscribers. VON Magazine Innovators will be honored at the Spring VON.x event in San Jose, CA on Tuesday, March 18, 2008, at 6 PM, at the VON Theater on the expo floor.
About the VON Innovator's Award:
Building on the legacy of the Pulver 100, the VON Innovator Awards have evolved to recognize all companies - start-ups to publicly-traded companies - which represent the future of Internet Communications. Each participating company completed a lengthy and comprehensive nomination process, and the recipients have been selected from a committee made up of VON Magazine editors, columnists, and contributors, as well as the leading content producer for the VON.x conferences. The Inaugural VON Magazine Innovator Award winners will be honored at Spring VON.x at 6:00 PM Pacific time on March 18th in the VON Theatre in San Jose. For additional information, please visit: http://vonmag.com/innovators/.
About Teltronics:
Teltronics, Inc. is a leading, global provider of communications solutions and services that help businesses communicate. The Company designs, develops and manufactures electronic equipment and applications software systems that enhance the performance of communications networks. Teltronics develops VoIP and digital telephone switching systems and software and contact center solutions for small-to-large size businesses and government facilities. Teltronics also provides network management hardware and software solutions to help large organizations and regional telephone companies effectively monitor and maintain their voice and data networks. The Company serves as an electronic contract-manufacturing partner to customers nationwide. Further information regarding Teltronics is available at the web site, http://www.teltronics.com/.
A number of statements contained in this press release are forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as we "believe," "anticipate," "expect," or words of similar import. Similarly, statements that describe our future plans, objectives, strategies or goals are also forward-looking statements. These forward-looking statements involve a number of risks and uncertainties that may materially adversely affect the anticipated results. Such risks and uncertainties include, but are not limited to, the timely development and market acceptance of products and technologies, competitive market conditions, payment of the consideration under our acquisition agreements, successful integration of acquisitions and the failure to realize the expected benefits of such acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, the ability to make payments under our outstanding indebtedness, the ability to pay dividends on our preferred stock, risks relating to foreign currency translations, and other factors described in the Company's filings with the Securities and Exchange Commission. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements made herein and are cautioned not to place undue reliance on such forward- looking statements. The forward-looking statements made herein are only made as of the date of this press release and we disclaim any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Teltronics, Inc.
CONTACT: Ewen R. Cameron, President & CEO of Teltronics, +1-941-753-5000, ecameron@teltronics.com; or Todd Keefe of Pulvermedia-VON Magazine, +1-617-262-1968 x 100, todd@pulvermedia.com
Web site: http://www.teltronics.com/ http://www.vonmag.com/ http://vonmag.com/innovators
STMicroelectronics Announces the Filing of its Form 20-F with SEC
GENEVA, March 5 /PRNewswire-FirstCall/ -- STMicroelectronics announced that it has filed its Annual Report on Form 20-F for the year ended December 31, 2007 with the SEC on March 4th, 2008. The Company's Form 20-F and complete audited financial statements can be found at http://www.st.com/.
Hard copy versions of the complete audited financial statements are available free of charge upon request beginning March 12th, 2008 from ST's Investor Relations: +1 212 821 8920.
About STMicroelectronics
STMicroelectronics is a global leader in developing and delivering semiconductor solutions across the spectrum of microelectronics applications. An unrivalled combination of silicon and system expertise, manufacturing strength, Intellectual Property (IP) portfolio and strategic partners positions the Company at the forefront of System-on-Chip (SoC) technology and its products play a key role in enabling today's convergence markets. The Company's shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. In 2007, the Company's net revenues were $10 billion. Further information on ST can be found at http://www.st.com/.
STMicroelectronics
CONTACT: Michael Markowitz of STMicroelectronics, +1-212-821-8959, michael.markowitz@st.com
Web site: http://www.st.com/
UTC Reaffirms $40 Per Share Cash Proposal to Diebold
HARTFORD, Conn., March 5 /PRNewswire-FirstCall/ -- United Technologies Corporation today issued the following statement regarding its offer to Diebold Inc.'s Board of Directors:
United Technologies Corporation remains committed to its offer. Diebold's financial and stock performance and the inability of Diebold's leadership to file timely financial statements are not valid reasons to avoid a dialogue with UTC.
UTC reaffirms its proposal to purchase the outstanding shares of Diebold for $40 per share cash, a 66% premium to Diebold's closing stock price on February 29th. UTC remains ready to discuss its proposal with the Diebold Board of Directors. UTC's management team, and financial and legal advisors are available to meet with Diebold and begin due diligence immediately.
United Technologies, based in Hartford, Conn., is a diversified company that provides high technology products and services to the building and aerospace industries.
This communication does not constitute an offer, or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. All information in this communication is as of March 5, 2008. United Technologies Corporation undertakes no duty to update any forward- looking statement to conform the statement to future events or to changes in the company's expectations.
Contacts:
Peter Murphy, UTC Judith Wilkinson / Eric Brielmann
(860) 728-7977 Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
John Moran, UTC
(860) 728-7062
UTC-IR
United Technologies Corp.
CONTACT: Peter Murphy, +1-860-728-7977, or John Moran, +1-860-728-7062, both of United Technologies Corp.; or Judith Wilkinson or Eric Brielmann, both of Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449
Web site: http://www.utc.com/
Company News On-Call: http://www.prnewswire.com/comp/913919.html
Packeteer Board to Evaluate Unsolicited Acquisition Proposal
CUPERTINO, Calif., March 5 /PRNewswire-FirstCall/ Packeteer(R), Inc. , the global leader in high-performance, intelligent WAN Application Delivery, today announced that it has received an unsolicited acquisition proposal from Elliott Associates LP and Elliott International, L.P. The Company said that its Board of Directors will evaluate this proposal carefully and promptly, consistent with its fiduciary duties and in light of the best interests of the Company's stockholders.
About Packeteer
Packeteer is the global market leader in Application Traffic Management for wide area networks. Deployed at more than 7,000 companies in 50 countries, Packeteer solutions empower IT organizations with patented network visibility, control, and acceleration capabilities delivered through a family of intelligent, scalable appliances. For more information, contact Packeteer via telephone at +1 (408) 873-4400, fax at + 1 (408) 873-4410, or by email at info@packeteer.com, or visit the Company's website at http://www.packeteer.com/. Packeteer is headquartered in Cupertino, CA.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including statements regarding Packeteer's expectations, beliefs, intentions or strategies regarding the future. Forward-looking statements include, but are not limited to, express or implied statements regarding future revenue growth and profitability, spending levels by existing and prospective customers, the markets for our products, new product development, liquidity and macro economic conditions. All forward-looking statements included in this press release are based upon information available to Packeteer as of the date hereof. Packeteer assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. Actual results may differ materially due to a number of factors including the perceived need for our products, our ability to convince potential customers of our value proposition, the costs of competitive solutions, continued capital spending by prospective customers and macro economic conditions. These and other risks relating to Packeteer's business are set forth in Packeteer's Form 10-K filed with the Securities and Exchange Commission on March 4, 2008, and Packeteer's Form 10-Qs and other reports filed from time to time with the Securities and Exchange Commission.
Packeteer, PacketShaper, PacketShaper Express are trademarks or registered trademarks of Packeteer, Inc. All other products and services are the trademarks of their respective owners.
Packeteer, Inc.
CONTACT: David C. Yntema, Chief Financial Officer of Packeteer, Inc., +1-408-873-4518, dyntema@packeteer.com
Web site: http://www.packeteer.com/
GeoEye to Webcast Fourth Quarter and Year-End 2007 Earnings Conference Call- Scheduled for 11:00 a.m. EDT Thursday, March 13, 2008 -
DULLES, Va., March 5 /PRNewswire-FirstCall/ -- GeoEye will Webcast its quarterly conference call on Thursday, March 13, 2008 beginning at 11:00 a.m. EDT. The call will include a review of the fourth quarter and year-end 2007 financial results and updates on the company's operations.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060112/DCTH008LOGO)
The conference call will be hosted by GeoEye's senior executives, including:
-- Mr. Matthew O'Connell, Chief Executive Officer, President and Director
-- Mr. Henry Dubois, Executive Vice President and Chief Financial Officer
-- Mr. William (Bill) Schuster, Chief Operating Officer
-- Mr. William Warren, Senior Vice President and General Counsel
The conference call will be Webcast on the "Investor Relations" section of the company's corporate Web site http://www.geoeye.com/. To directly access the live Webcast go to: http://www.geoeye.com/corporate/invrelations/default.htm and click on the "March 13, 2008 Investor Update Webcast" button. Please allow 15 minutes before the scheduled start time to register, download and install any necessary audio software. An archived Webcast of the call will be available at the same URL address approximately two hours after the conclusion of the call.
If you would like to call in rather than listening to the live broadcast online, please send an email directly to investorrelations@geoeye.com by March 11 with your name, company and contact information in order to request the dial-in instructions.
About GeoEye
GeoEye is the premier provider of geospatial information, imagery and solutions for the national security community, strategic partners, resellers and commercial customers to help them better map, measure and monitor the world. GeoEye operates a constellation of Earth imaging satellites, mapping aircraft and has an international network of ground stations, a robust imagery archive, and advanced geospatial imagery processing capabilities. GeoEye-1 will be launched in the coming months from Vandenberg Air Force Base in California. GeoEye-1 will be the world's highest resolution and most accurate commercial imaging satellite. GeoEye is a public company listed on the Nasdaq stock exchange under the symbol GEOY. GeoEye provides support to academic institutions and non-governmental organizations through the GeoEye Foundation. Headquartered in Dulles, Virginia, GeoEye maintains a comprehensive Quality Management System (QMS), and has achieved company-wide ISO accreditation. For more information, visit http://www.geoeye.com/.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks and uncertainties. GeoEye's actual financial and operational results could differ materially from those anticipated. Additional information regarding these risk factors and uncertainties is described more fully in the Company's SEC filings. A copy of all SEC filings may be obtained from the SEC's EDGAR web site, http://www.sec.gov/, or by contacting: William L. Warren, Senior Vice President, General Counsel and Secretary, at 703-480-5672.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060112/DCTH008LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
GeoEye
CONTACT: Mark Brender of GeoEye, +1-703-480-9562, brender.mark@geoeye.com; or Amy Estes of LeGrand Hart, +1-303-298-8470, ext. 218, aestes@legrandhart.com, for GeoEye
Web site: http://www.geoeye.com/
VisualCV.com Doubles Company Participation and Signs up Thousands of MembersIn Under a Month New Site Has Attracted Thousands of Members and Over 125 Top Employers
RESTON, Va., March 5 /PRNewswire/ -- VisualCV, Inc., a next-generation Internet recruiting company that revolutionizes the resume, today announced that only three weeks after initial beta launch it has registered thousands of international members, and over 125 participating top employers have joined to receive VisualCVs. Employers have already made new hires through VisualCV.com, using the site as a platform for attracting and recruiting new talent.
"The initial reaction to our beta launch has been phenomenal," said Clint Heiden, CEO of VisualCV, Inc. "Individual members have built impressive and informative VisualCVs and are making connections with companies on the site. And, we have fast-growing interest from employers to join the site. Since our launch, we have more than doubled the number of companies participating at VisualCV.com. It's clear that professionals and employers were ready for the new tools we're providing."
Employers can sign up at VisualCV.com to highlight their company as an employer of choice through a company-specific VisualCV that can include video, audio, and other web and multimedia content. Individual members can then share their VisualCVs directly with these companies. By taking advantage of these capabilities, VisualCV.com allows employers to attract, qualify and hire better candidates faster.
Over 125 Hundred Employers Now Directly Receiving VisualCVs and Attracting and Evaluating Talent at VisualCV.com
VisualCV.com has already attracted and registered over 125 companies to receive VisualCVs from interested candidates. With its rich features enabling more depth, breadth and quality of candidate information, companies get more information about applicants upfront, allowing them to qualify candidates more easily. With VisualCV, companies can (for free):
-- Put their brand in front of thousands of qualified professionals and differentiate the company as an employer of choice
-- Find and evaluate professionals more efficiently
-- Source new candidates
-- Reduce the time and cost to locate qualified candidates
-- Allow organizations to emphasize fit and compatibility, therefore hiring capable individuals who fit the culture, improving retention
-- Track talented professionals throughout their career
-- Reach passive candidates
To join the growing list of employers participating at VisualCV.com, please visit http://www.visualcv.com/registrations/new. Employer access to VisualCV.com is free, and will remain so at the current level of service. Certain premium value-added services for employers will be added later this year.
Companies already receiving VisualCVs include Heidrick & Struggles, BroadSoft Inc., Federated Media, EnterpriseDB, Parature, Lagan Technologies, Connected Ventures, Socialight, FootageFirm, Tatto Media, Thrillist, Bisnow on Business, RollStream, Approva, buySafe, Grotech Capital Group, Content Analyst, Rivermine, JackBe, Sourcefire, Centrifuge Systems, GlobalLogic, Razorsight, Customer Value Partners (CVP), LeverPoint, Intridea, Objective Paradigm, Kastle Systems, SE Solutions, Valhalla Partners, The Heiden Group and Acronis. To see a complete list of registered companies, please visit:
http://www.visualcv.com/www/for_companies/join_in.html.
On February 11, 2008, VisualCV announced its revolutionary approach to creating an Internet-based resume, building and managing an online career portfolio, and securely sharing professional qualifications with employers, customers, partners and colleagues. VisualCV.com is the first website to allow professionals to do this all in one place, with unmatched privacy and control, and for free.
About VisualCV, Inc.
VisualCV reinvents the resume using technologies that transform the way in which resume data is presented, accessed and shared. A VisualCV allows professionals to easily build and manage an online career portfolio that comes alive with informational keyword pop-ups, video, pictures, and professional networking. VisualCV.com enables secure sharing of VisualCVs for networking, career advancement and business development. And, it's free. Based in Reston, Virginia, the company has received investments from one of the world's leading executive search firms, Heidrick & Struggles , and Valhalla Partners. For more information, to register and start standing out, please visit http://www.visualcv.com/.
VisualCV, Inc.
CONTACT: George Atallah, +1-202-683-3147, gatallah@qorvis.com, for VisualCV, Inc.
Web Site: http://www.visualcv.com/
Aon Consulting Hires Southeast Region LeaderMary Kay Vona joins as executive vice president, leads region's operations
TAMPA, Fla., March 5 /PRNewswire-FirstCall/ -- Aon Consulting Worldwide, the global human capital consulting organization of Aon Corporation , today announced that Mary Kay Vona has joined the Tampa office as executive vice president and southeast region* leader.
(Logo: http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO)
Vona, 47, brings nearly 25 years of human capital consulting experience to Aon Consulting. As the southeast region leader, she will be responsible for the region's operations including account management and business development as well as professional staff development and retention. Vona joins Aon Consulting from IBM, where she was the global learning executive and partner in the Human Capital Management practice. While at IBM she also led human capital management for the company's Communications sector. Prior to joining IBM, Vona was a partner in the Management Consulting practice of PricewaterhouseCoopers. She has consulted with clients in numerous industries including telecommunications, financial services, automotive, manufacturing, energy and utilities, and media and entertainment.
Vona earned a doctorate of education from The George Washington University. She has co-authored several research papers on human capital, innovation and the strategic value of learning. Vona also has been a speaker at numerous industry conferences and web lectures.
*Aon Consulting's southeast region consists of Maryland, Washington, D.C., Virginia, North Carolina, South Carolina, Georgia and Florida.
About Aon
Aon Corporation is the leading global provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. Through its 43,000 professionals worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Our industry-leading global resources, technical expertise and industry knowledge are delivered locally through more than 500 offices in more than 120 countries. Aon was ranked by A.M. Best as the number one global insurance brokerage in 2007 based on brokerage revenues, and voted best insurance intermediary, best reinsurance intermediary, and best employee benefits consulting firm in 2007 by the readers of Business Insurance. For more information on Aon, log onto http://www.aon.com/.
About Aon Consulting
Aon Consulting Worldwide (http://www.aon.com/hcc) is among the top global human capital consulting firms, with 2007 revenues of $1.352 billion and 6,335 professionals in 117 offices worldwide. Aon Consulting is shaping the workplace of the future through benefits, talent management and rewards strategies and solutions. Aon Consulting was named the best employee benefit consulting firm by the readers of Business Insurance magazine in 2006 and 2007.
Media Contact:
Sara Carlson
312-381-5045
Sara_carlson@aon.com
Photo: http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Aon Corporation
CONTACT: Sara Carlson of Aon Corporation, +1-312-381-5045, Sara_carlson@aon.com
Web site: http://www.aon.com/
/C O R R E C T I O N -- AT&T Inc./In the news release, AT&T to Invest $1 Billion in Global Network and Services for Multinational Customers in 2008, issued earlier today by AT&T Inc. over PR Newswire, we are advised by the company that the forward-looking statement was inadvertently omitted. Complete, corrected release follows:AT&T to Invest $1 Billion in Global Network and Services for Multinational Customers in 2008Global Networking Platform for Delivering On-Demand Network Applications Is Key to AT&T Efforts
SAN ANTONIO, March 5 /PRNewswire-FirstCall/ -- AT&T Inc. today announced plans to invest $1 billion in 2008 to continue the expansion of AT&T's industry-leading network and portfolio of solutions for multinational companies with operations and applications in key markets worldwide.
The 2008 program -- which is 33 per cent more than last year's enterprise investment and more than double AT&T's investment in 2006 -- is being driven by demand for Internet Protocol (IP) networks and services as companies deal with the explosive surge in data, voice and video traffic made possible by the proliferation of high speed networks and devices worldwide.
Responding to this demand, AT&T is accelerating its efforts to: 1) extend its global network reach and capacity; 2) globalize its portfolio of business services and 3) embed the latest utility computing and other technologies in the network so that companies can deliver real-time applications to their customers, suppliers and partners.
In 2008 AT&T plans to invest in:
-- New subsea fiber optic cable capacity to Japan and Asia, increasing
diversity and reliability on these critical routes. This would include
increased investments in multiple under sea cable systems into South
East Asia and Australia, investment in several subsea cable system
upgrades to significantly grow capacity on multiples routes in the
Caribbean, including Puerto Rico, as well as subsea investments on
existing cables servicing India and the Middle East. These subsea
investments will be used to extend AT&T's intelligent optical network
into Europe and Asia with optical mesh restoration.
-- New core MPLS routers in Europe, Asia and the U.S., and the expansion
of access to AT&T's global network with new or additional MPLS based IP
network access nodes in Europe (Paris, Moscow), the Middle East
(Kuwait), India (New Delhi, Kolkata), Japan, Asia (Seoul, Shanghai,
Singapore), and Central America (Guatemala).
-- New network-to-network connections to extend network reach into high
growth markets in Asia Pacific (India, Australia), Eastern Europe
(Russia, Kyrgyzstan, Belarus, Mongolia) and South America.
-- Enhanced Ethernet network capabilities with the rollout of a global
virtual private local area network solution, initially in the U.S.,
Europe and Asia Pacific. In 2008 AT&T plans to make these services
available in 14 cities -- Frankfurt, London, Brussels, Paris,
Amsterdam, Stockholm, Dublin/Cork, Milan, Madrid and Zurich in Europe;
and Hong Kong, Sydney, Singapore, Tokyo in Asia Pacific. By year-end
2008, AT&T expects to have an Ethernet footprint in 39 countries.
-- Adding DSL as an emerging access alternative to China, Finland, Norway
and Saudi Arabia. By year-end, DSL will be available as an access
alternative in 21 countries.
-- Increasing data center hosting capacity with an additional 180,000
square feet of global capacity by mid 2009 throughout the 38 data
centers AT&T has deployed globally. Expansion targets in 2008 will
include space augmentation in Singapore, Amsterdam, Boston and Dallas.
-- New application performance management tools within AT&T's
industry-leading AT&T BusinessDirect(R) portal to help companies manage
and monitor their networks and services online, giving them greater
control and flexibility.
-- Integrating and developing unified communications capabilities made
possible by the recent acquisition of Interwise, a global provider of
Web-based and audio conferencing services to accelerate AT&T's move
into the unified communications space.
-- Integrating the global network operations and processes acquired
through AT&T's recently expanded networking agreement with IBM, thus
enabling greater scope and scale than ever before.
-- Offering global IP-based audio-conferencing services with in-country
dial-in access from more than 140 countries, with in-language support.
These investments complement AT&T's industry-leading position in the mobility space. Today, AT&T offers the largest integrated GSM network in the U.S., covering 290 million people, and has the largest international coverage of any U.S. wireless carrier. Customers can make calls on six continents and in more than 200 countries -- with wireless data-roaming in more than 145 countries for laptops, PDAs and other data services and third-generation (3G) service in 60 countries.
"Companies worldwide are responding to the exploding need to deliver voice, data and video in real time to their end-users, no matter where they are, no matter what the device," said Ron Spears, group president, AT&T Global Business Services. "It is vital that we continue to invest in those geographies and services to meet this demand so our customers can connect their operations, partners and suppliers."
AT&T continues to capitalize on the ongoing shift in network traffic from voice to data -- and more important to IP-based data -- as customers migrate from legacy packet networks to MPLS-based VPNs and managed applications. These trends returned the AT&T Global Business Services' unit within AT&T to year-over-year revenue growth in recurring enterprise services in the third quarter of 2007, a year ahead of expectations. As previously announced, in the fourth quarter of 2007, hosting revenues grew by 19 per cent, enterprise IP data services by 20.9 percent, and VPN revenues by 31 per cent.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.
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.
Note: This AT&T news release and other announcements are available as part of an RSS feed at http://www.att.com/rss. For more information, please review this announcement in the AT&T newsroom at http://www.att.com/newsroom.
AT&T Inc.
AT&T Brings Exciting Wireless Products and Services to Eight Counties in West VirginiaCustomers Have Access to Enhanced Network Coverage; All Cellular One Wireless Stores Converted to AT&T Brand
ELKINS, W.Va., March 5 /PRNewswire-FirstCall/ -- AT&T Inc. , the nation's largest wireless company, announced today that advanced wireless voice, data products and services will be provided to Tucker, Randolph, Upshur, Webster, Nicholas, Pocahontas, Braxton and Clay counties. The launch follows AT&T's January 2 acquisition of the wireless assets of Easterbrooke Cellular Corporation, sold in the state under the Cellular One brand.
AT&T has enhanced Cellular One's wireless network to provide its premier level of devices including the Apple iPhone which will be available later this week. AT&T customers benefit from the nation's largest digital voice and data network, which serves 70.1 million customers and has third-generation (3G) broadband available in more than 265 metropolitan markets.
Newly renovated company stores in Elkins, Summersville and Buckhannon will offer customers access to more than 20 AT&T music and camera phones, PDAs and smartphones. These locations bring the number of AT&T stores in West Virginia to 24. In addition, AT&T's products and services are available throughout the state in more than 60 authorized agent and national retailer locations, such as Wal-Mart, RadioShack and Best Buy.
"We're thrilled to expand our services throughout eastern West Virginia," said Erika K. Thompson, vice president and general manager of AT&T's wireless division in West Virginia and Virginia. "These customers now have access to some of the hottest new voice and data wireless products, including the wildly popular BlackBerry(R) Curve, as well as a wide range of music and video-capable handsets and data devices equipped with e-mail clients and must-have features such as Microsoft's Windows Mobile 6. Our pricing is easy to understand; roaming and long distance are always included. We just introduced unlimited voice plans starting at $99.99 a month for customers who want the predictability of flat pricing for minutes. AT&T is the only company that lets you roll over unused minutes from month to month."
Chris Marr, chairman of Community Connect Foundation, a nonprofit group that works to develop West Virginia's technological resources and infrastructure, said: "Having access to the latest services and products offered by AT&T's advanced network will enable West Virginia businesses and consumers to interact more effectively. The more AT&T invests in the state, the more opportunities our communities have to use technology to address their needs."
Exciting Products and Unique Applications
For the first time, customers in Tucker, Randolph, Upshur, Webster, Nicholas, Pocahontas, Braxton and Clay counties will be able to purchase AT&T's cutting-edge wireless devices like the AT&T Tilt(TM), Pantech duo, BlackBerry Curve 8310 and BlackJack(TM) II. These devices offer exciting features:
-- AT&T Tilt: Operates on Windows Mobile 6, features a 3.0-megapixel
camera and has Wi-Fi and GPS capabilities.
-- Pantech Duo: Boasts an innovative dual-sliding, double-keyboard design
and is powered by Windows Mobile 6.
-- BlackBerry Curve 8310: Includes built-in GPS capabilities, with a
2.0 megapixel camera and Bluetooth(TM) stereo headset support.
-- BlackJack II: Allows customers to sideload their music from Yahoo!(R)
or Napster(R).
Additionally, dynamic AT&T Mobile Music and CV applications let customers manage a variety of multimedia libraries, download and play stereo-quality music, watch TV shows and view exclusive content from HBO, MTV, ESPN and other channels through their AT&T wireless device and service.
New Offerings
Former Cellular One customers have a wide variety of calling plans, and those who choose AT&T will not be charged activation or upgrade fee to join.
Unlimited Calling Plans: The flat-rate calling plans for customers who want predictability in their voice minutes. A variety of text-messaging and data plans are available.
GoPhone: Flexible prepaid offers with no annual credit check, no annual contract, no deposit and no roaming or long distance fees. Rollover(R) Minutes and Mobile to Mobile calling for AT&T's 70.1 million customers are also included.
Rollover Minutes: Customers can roll over their unused minutes from month to month for 12 months, not available with flat-rate pricing.
AT&T Senior Nation Plan: AT&T provides tailored pricing and wireless devices for the special needs of senior citizens.
Mobile to Mobile Feature: Customers can enjoy free mobile calling among AT&T's 70.1 million customers.
International Roaming: AT&T customers can use their wireless services in 200 countries, and they have the flexibility to browse the Web and perform other wireless data functions in more than 145 countries. Customers can also take advantage of special roaming plans available on 75 cruise ships worldwide.
Online Account Management: Customers can pay bills and view their account and rate-plan information online at http://www.wireless.att.com/.
Star Services: Customers can check their account balances, minutes and date usage and make a payment from an AT&T wireless device with Star Services.
Network Enhancements
AT&T has enhanced the network coverage of eight West Virginia counties by launching Enhanced Data Rate for GSM Evolution (EDGE) -- the largest high speed national wireless data network in the U.S. currently available in more than 13,000 cities and towns and along 40,000 miles of highways and secondary roads. The recent acquisition extends AT&T's wireless network in West Virginia to Elkins, Buckhannon, Davis, Canaan Valley, Snowshoe, Webster Springs, Summersville, Richwood and Sutton. Over the past three years, the company has invested $19.5 million and added 29 cell sites to beef up network performance in the state. This year, AT&T plans to invest more than $16 million throughout West Virginia to further expand coverage and deploy its blazing-fast 3G network.
AT&T has an online tool that provides detailed coverage information about its network anywhere in the U.S. at http://www.wireless.att/coverageviewer.
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 AT&T marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners. For more information and detailed disclaimer information, please review this announcement in the AT&T newsroom at http://www.att.com/newsroom.
AT&T Inc.
CONTACT: Elizabeth Gautier of AT&T Inc., +1-202-659-5888, cell, +1-202-270-5724, egautier@attnews.us
Web site: http://www.att.com/
IFC Entertainment and BLOCKBUSTER Sign Two-Year Exclusive Rental DealBLOCKBUSTER to be Exclusive Rental Outlet for IFC Entertainment's Titles Through Stores, Mail and VOD DownloadIFC Entertainment and Blockbuster to Expand Availability of Independent Films
NEW YORK, March 5 /PRNewswire-FirstCall/ -- In a move designed to make independent films available to a wider audience, IFC Entertainment, a subsidiary of Rainbow Media Holdings LLC, and Blockbuster Inc. today announced a two-year agreement that gives BLOCKBUSTER(R) the exclusive U.S. rental rights for IFC Entertainment's titles. The agreement enables IFC Entertainment to reach a broader audience for its films through Blockbuster's stores, by-mail subscription services and digital downloading service, Movielink.com.
Under the terms of the agreement, IFC and Blockbuster will share rental revenues from IFC titles. Blockbuster will have an exclusive 60-day rental window, including both the physical and digital rental distribution channels, for each title as it becomes available. During this period no title will be available on a retail basis in any format. After the 60-day period, the IFC titles will be available on a non-exclusive basis both for retail and digital distribution. However, Blockbuster will retain the exclusive physical rental distribution rights for IFC titles for three years after each street date.
In addition to carrying IFC titles in its stores nationwide, Blockbuster has installed special independent film sections in approximately 1,000 of its locations, which will include not only IFC titles but also independent movies from a variety of distributors. Blockbuster also plans to highlight IFC titles on blockbuster.com and on Movielink.
"We're delighted to join with BLOCKBUSTER as we continue our mission of making independent film available to the widest possible audience," said Lisa Schwartz, IFC's senior vice president of sales and business development. "Blockbuster's national store network combined with its by-mail and downloading services, made this a particularly appealing agreement for us because it gives millions of customers increased access to our movies."
"This agreement with IFC is a great opportunity for BLOCKBUSTER to provide our customers with convenient access to the best of independent film," said Keith Leopard, director, film product, Blockbuster Inc. "Whether it's through our stores, through the mail or through digital downloading, our customers will have access to some of the most exciting, thought-provoking films the indie filmmaking world has to offer. We look forward to working with IFC to dramatically expand our selection of independent titles and to being the exclusive rental outlet for films that otherwise might not have gotten exposure to such a broad audience."
Titles to be exclusively available for rental at BLOCKBUSTER include: Gus Van Sant's Paranoid Park, which opens theatrically on Friday, March 7th and was recently nominated for three Independent Spirit Awards including best picture and best director and won the Piaget Producers Award, which went to producer Neil Kopp; Tom Kalin's Savage Grace, which stars Julianne Moore and was screened at this year's Sundance Film Festival; Hannah Takes the Stairs, a critically-acclaimed film by Joe Swanberg that emerged as part of the Mumblecore movement; and Dans Paris, a French language film directed by Christophe Honore.
Genius Products, Inc. (BULLETIN BOARD: GNPI) , a leading independent home-entertainment distribution company, serves as the sales agent for IFC Entertainment.
ABOUT IFC ENTERTAINMENT
IFC Entertainment consists of IFC Films, a leading theatrical film distribution company bringing the best of independent films to theaters and to the on-demand platform, day and date, reaching over 45 million subscribers. The company's brick and mortar home, The IFC Center, features state-of-the-art cinemas with luxurious seating and high-definition digital and 35mm projection, located in the heart of New York City's West Village. Recent and upcoming IFC releases include: 2007 Palme d'Or winner 4 Months, 3 Weeks And 2 Days, which also received a Golden Globe nomination for Best Foreign Film; Gus Van Sant's award-winning Paranoid Park; Harmony Korine's Mister Lonley; Hou Hsiao Hsien's Flight of the Red Balloon starring Juliette Binoche; and Catherine Breillat's The Last Mistress starring Asia Argento. Other critically acclaimed films include Patrice Lecontes's My Best Friend, Susanne Bier's academy award nominated After the Wedding and Ken Loach's 2006 Palme d'Or winner The Wind that Shakes the Barley.
About Rainbow Media Holdings LLC
Rainbow Media Holdings LLC is a subsidiary of Cablevision Systems Corporation . Rainbow Media is a leading producer of targeted, multi-platform content for global distribution, creating and managing some of the world's most compelling and dynamic entertainment brands, including AMC, IFC, WE tv, and VOOM HD Networks. Through its IFC Entertainment division, Rainbow Media also owns and manages the following: IFC Films, a theatrical feature film distribution company; IFC First Take/IFC in Theaters, a day and date theatrical feature film/VOD initiative; the IFC Center in New York City; IFC Productions, a feature film production company; and IFC Entertainment, which owns and operates a film library. Rainbow Media also operates Rainbow Advertising Sales Corporation, its advertising sales division, and Rainbow Network Communications, its full service network programming origination and distribution company.
About Blockbuster
Blockbuster Inc. is a leading global provider of in- home movie and game entertainment, with more than 7,800 stores throughout the Americas, Europe, Asia and Australia. The Company may be accessed worldwide at http://www.blockbuster.com/.
IFC Entertainment
CONTACT: Jill Dortheimer of Rainbow Media, +1-917-542-6311, for IFC Entertainment
Web site: http://www.blockbuster.com/
Virgin Mobile USA to Announce Fourth Quarter and Full Year 2007 Financial Results and Host Conference Call on March 12, 2008
WARREN, N.J., March 5 /PRNewswire-FirstCall/ -- Virgin Mobile USA, Inc. will release its fourth quarter and full year 2007 financial results after market close on Wednesday, March 12, 2008, and host a related conference call beginning at 5:00 p.m. Eastern Time that day.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070613/VIRGINMOBILE )
Daniel H. Schulman, Chief Executive Officer, and John D. Feehan Jr., Chief Financial Officer, will review Virgin Mobile USA's fourth quarter and full year 2007 financial results. Following the review will be a question and answer session. The conference call is expected to last approximately one hour and a simultaneous audio webcast of the call will be available on the Investor Relations section of Virgin Mobile USA's Web site at http://investorrelations.virginmobileusa.com/.
Investors and analysts may participate in the live conference call by dialing 888.354.3598 (toll-free domestic) or 706.758.4636 (international); passcode: 37431006. Participants should register at least 10 minutes before the conference call begins. A replay of the call will be available for one week via telephone starting approximately two hours after the call ends. The replay can be accessed at (800) 642-1687 (toll-free domestic) or (706) 645- 9291 (international); passcode: 37431006. The webcast will be archived on Virgin Mobile USA's Web site for 30 days after the call.
About Virgin Mobile USA, Inc.
Virgin Mobile USA offers more than five million customers control, flexibility and choice in wireless service, rich data content and innovative products without annual contracts. Voice pricing plans range from monthly options with unlimited nights and weekends to by-the-minute offers, allowing consumers to adjust how and what they pay according to their needs. Virgin Mobile USA's full slate of smart, stylish and affordable handsets, including the Wild Card, Super Slice and Cyclops, are available at top retailers in more than 40,000 locations nationwide and online at http://www.virginmobileusa.com/, with Top-Up cards available at more than 140,000 locations.
J.D. Power and Associates ranked Virgin Mobile USA highest in customer satisfaction among wireless prepaid services in both 2006 and 2007, and its customers report a 90% satisfaction rate. Virgin Mobile USA contributes a portion of profits from downloadable content to The RE*Generation, its pro- social initiative to help homeless youth; and provides postage-paid return envelopes in every new phone package for customers to recycle old phones. Virgin Mobile USA's national coverage is powered by the nationwide Sprint PCS network.
This press release contains certain forward-looking statements and information relating to us that are based on the beliefs of our management as well as assumptions made by, and information currently available to, us. These statements include, but are not limited to, statements about our strategies, plans, objectives, expectations, intentions, expenditures, and assumptions and other statements contained in this document that are not historical facts. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend," "plan" and "project" and similar expressions, as they relate to us are intended to identify forward-looking statements. These statements reflect our current views with respect to future events, are not guarantees of future performance, and involve risks and uncertainties that are difficult to predict. Further, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties discussed in our filings with the Securities and Exchange Commission, copies of which are available on our investor relations website at http://investorrelations.virginmobileusa.com/ and on the SEC website at http://www.sec.gov/. We neither intend nor assume any obligation to update these forward-looking statements, which speak only as of their dates.
Photo: http://www.newscom.com/cgi-bin/prnh/20070613/VIRGINMOBILE AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Virgin Mobile USA, Inc.
CONTACT: Jayne Wallace, +1-908-607-4014, jayne.wallace@virginmobileusa.com or Investors, Erica Bolton, +1-908-607-4108, erica.bolton@virginmobileusa.com, both of Virgin Mobile USA
Web site: http://www.virginmobileusa.com/ http://investorrelations.virginmobileusa.com/
Conspiracy Entertainment's 'Best of Tests DS(TM)' Ships to North American Stores
LOS ANGELES, March 5 /PRNewswire-FirstCall/ -- Conspiracy Entertainment Holdings Inc. ("Conspiracy") (BULLETIN BOARD: CPYE) , a developer, publisher and marketer of interactive entertainment software in North America and Western Europe, announced today that it has shipped "Best of Tests DS(TM)" for the Nintendo DS to North American retail outlets. A quirky and entertaining twist on the famous Intelligence Quotient (IQ) Test, Best of Tests uses a series of interesting, adaptive and enjoyable puzzles and challenges to give players the opportunity to improve their scores and knowledge.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060905/LATU010LOGO )
"With several hundred different questions and incremental difficulty levels, Best of Tests turns the familiar IQ test into a lively, engaging and continually fresh challenge," said Sirus Ahmadi, president of Conspiracy Entertainment. "Research suggests that these types of brain teasers can help stimulate and sharpen our brainpower overtime. We believe a diverse gaming audience, from college students to working professionals, will enjoy the thrill of testing their intellect with Best of Tests available on the portable, handheld DS."
Keith Tanaka, CFO of Conspiracy Entertainment, said, "Best of Tests marks the second of three new release titles planned in the month of March. This aggressive schedule should boost sales by the close of the first quarter, setting the stage for additional sales growth in 2008."
Logic, observation, memory, speed of perception and analysis: these are the qualities that define the famous IQ Test and these same skills will be challenged in Best of Tests DS. A downloadable press kit including images is available at: http://www.calico-media.com/conspiracy/BoT_Press_Kit.zip. Retail review copies of the game are available per request. Please send your request to ted@calico-media.com.
About Conspiracy Entertainment Corp.
Conspiracy Entertainment Corporation is a developer, publisher and marketer of entertainment software in North America and Western Europe. The Company develops and licenses properties from several sources, including global entertainment and media companies and publishes software for DVD media, wireless devices, personal computers and videogame consoles, including those manufactured by Nintendo, Sony Computer Entertainment, and Microsoft Corporation. Conspiracy Entertainment was founded in 1997 and is based in Santa Monica, CA. For more information, please visit http://www.conspiracygames.com/.
NINTENDO DS IS A TRADEMARK OF NINTENDO CO. Ltd.
Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a "Safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward- looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060905/LATU010LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Conspiracy Entertainment Holdings Inc.
CONTACT: Rick McCaffrey, Investor Relations of OTC Financial Network for Conspiracy Entertainment Holdings Inc., +1-781-444-6100, ext. 625, rick@otcfn.com; or Media, Ted Brockwood of Calico Media Communications for Conspiracy Entertainment Holdings Inc., +1-503-342-8067, ted@calico-media.com, Skype and gtalk: tbrockwood, aim: calicomedia
Web site: http://www.conspiracygames.com/ http://www.otcfn.com/cpye
TIM Participacoes S.A. Announces its Consolidated Results for the Fourth Quarter and Full Year of 2007
RIO DE JANEIRO, Brazil, March 5 /PRNewswire-FirstCall/ -- TIM Participacoes S.A. (BOVESPA: TCSL3 and TCSL4; and NYSE: TSU), the company which controls directly TIM Celular S.A. and indirectly TIM Nordeste S.A., announces its results for the fourth quarter 2007 (4Q07). The following financial and operating information, except where otherwise indicated, is presented on a consolidated basis and in Brazilian Reais (R$), pursuant to Brazilian Corporate Law. All comparisons refer to the fourth quarter of 2006 (4Q06), except when otherwise indicated.
4Q07 Highlights
-- Fully delivering 2007 targets:
- Customers: 31.3 million versus 29 million target
- Net Organic Revenues: +14.6% versus >10% target (considering Bill &
Keep Parcial elimination as of January 1, 2006)
- EBITDA margin: 23.1% versus >23% target
- Operating Free Cash Flow: R$761.6 million, versus break-even target
-- Consolidation of convergence as an important strategic pillar: TIM is
confirmed as a provider of convergent services of communication with
mobility.
-- Average revenue per user (ARPU) totaled R$34.5 in 4Q07, remaining above
market average.
-- Net service revenue: R$3,099.7 million in 4Q07, 13.3% up on 4Q06 on a
YoY basis.
-- EBITDA margin in 4Q07 reached 27.1% (to R$914.8 million EBITDA, +16.2%
YoY).
-- Positive net result in the quarter (R$183.4 million) and in the year
(R$76.1 million, a R$361.6 million improvement over 2006's net loss of
R$285.5 million).
-- Net positive cash flow in the quarter (R$814.7 million) and in the year
(R$53.8 million).
-- Substantial purchase of 2.1 GHz frequencies which will enable TIM to
offer 3G services on a nationwide basis. The licenses were acquired for
R$1.3 billion in an auction.
For the full release, please access the Company's website: http://www.timpartri.com.br/.
4Q07/2007 Conference Call in English
March 5, 2008 (Wednesday)
10:00 a.m. US EST
12:00 p.m. Brasilia Time
Phone: +1 (973) 935-8893
Code: 35790213
Replay: +1 (706) 645-9291
IR Contact:
Monique Freitas
(55 21) 4009-4017 / 8113-0790
mpfreitas@timbrasil.com.br
TIM Participacoes S.A.
CONTACT: Monique Freitas, TIM Participacoes, +011-55-21-4009-4017, +011- 55-21-8113-0790, mpfreitas@timbrasil.com.br
Web site: http://www.timpartri.com.br/
VIASPACE Reports on Tokyo Fuel Cell Expo and Asian Sales Efforts
PASADENA, Calif., March 5 /PRNewswire-FirstCall/ -- VIASPACE Inc. (BULLETIN BOARD: VSPC) and its subsidiary Direct Methanol Fuel Cell Corporation (DMFCC) exhibited its line of fuel cell and battery products, and met with Asian partners and customers at FC EXPO 2008, the world's largest fuel cell and hydrogen industry exhibition, which was held February 27-29 in Tokyo. VIASPACE's Vice President of Engineering and Director of Engineering and Operations also spent two weeks each visiting current and potential customers in Japan.
Dr. Carl Kukkonen, CEO of both VIASPACE and DMFCC, said, "Fuel Cell Expo 2008 was very successful. We had tremendous traffic at our booth, and generated over 75 serious sales leads for the VIASENSOR HS-1000 humidity sensor and for the BA-1000 Battery Electrode Health Analyzer. We also met privately with current and potential customers and strategic partners. The 20,000 plus attendees were from over 50 countries. Our Korean and Japanese employees and partners helped man the booth, and we were able to interact with most people in their native language. This is very, very important for business development and sales.
"Both VIASENSOR products are unique and groundbreaking in the marketplace. They are protected by patents pending, and we have no direct competition. Our main challenge is to educate the customers about the new measurements our products enable. The instruments were operating at the show, and we were able to demonstrate them directly to customers. This attracted a lot of attention, and our Vice President of Engineering was there to answer all of the technical questions.
"Our disposable fuel cartridges were also featured at the booth, and we were able to show them to top Japanese and Korean portable electronics manufacturers. Our cartridge manufacturing partner, the Sato Group, helped man the booth and explain the products to Japanese customers.
"Fuel Cell Expo 2008 was a great trade and technical show. It is the largest in the world, and at the center of the large fuel cell industry in Asia. We will be back again next year."
Kukkonen continues, "In the two weeks prior to the show, our top engineering staff visited a large number of major companies in Japan to present and demonstrate our products. We had meetings with three of the top automobile manufacturers in Japan, three of the top consumer electronics companies and other leading companies, universities and research laboratories. These companies are involved in fuel cells and batteries for portable electronics, automobiles and residential applications. These meetings were set up by our Japanese distributor, Tokai Bussan, and I want to thank them for their strong support.
"In the near term, batteries will be the dominant approach for hybrid and electric vehicles. Battery demand will increase dramatically -- perhaps 10 fold, and all of these batteries need to be tested. Better battery materials are being introduced into the marketplace. Our VIASENSOR BA-1000 Battery Electrode Health Analyzer provides a new nondestructive measurement to characterize battery materials. Current methods are very expensive, time-consuming and require destruction of the battery under test.
"In the longer term, fuel cells are important, and the leading automotive companies are making significant investments in fuel cells. Other companies are looking at hydrogen fuel cells for residential and commercial electricity generation applications. The VIASENSOR BA-1000 humidity sensor is important for development and characterization of these fuel cells."
Kukkonen concludes, "The Asia trip was very encouraging, and I want to share my enthusiasm with our shareholders."
About VIASPACE: Originally founded in 1998 with the objective of transforming proven space and defense technologies from NASA and the Department of Defense into hardware and software solutions that solve today's complex problems, VIASPACE benefits from important patent and software licenses from Caltech, which manages NASA's Jet Propulsion Laboratory. For more information, please visit our website at http://www.viaspace.com/, or contact for Investor Relations, Dr. Jan Vandersande, Director of Communications at 800-517-8050, or IR@VIASPACE.com.
This news release includes forward-looking statements. These forward-looking statements relate to future events or our future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Such factors include the risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-KSB, as amended, for the fiscal year ended December 31, 2006, and our Quarterly Report on Form 10-Q for the period ended September 30, 2007, as well as general economic and business conditions, the ability to acquire and develop specific projects and technologies, the ability to fund operations, changes in consumer and business consumption habits, and other factors over which VIASPACE has little or no control.
VIASPACE Inc.
CONTACT: Carl Kukkonen of VIASPACE Inc., +1-626-768-3360
Web site: http://www.viaspace.com/
Quantum and German Solar Partner Asola Awarded $135 Million Contract to Supply Solar Modules
IRVINE, Calif., March 5 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. today announced that its German solar partner, Asola Advanced and Automotive Solar Systems GmbH, has been awarded a contract by AS Solar GmbH for the supply of high-efficiency silicon photovoltaic solar modules. The value of this contract is estimated at $135 million over a three year period, beginning in 2008, and subject to final negotiations on quantity and price in 2009 and 2010.
Asola will supply its state-of-the-art 270 Watt and 230 Watt modules to AS Solar for installations primarily in Spain. AS Solar is a leading German integrated solar energy systems company with a strategic focus on Germany, Italy, and Spain.
"Asola is pleased to be selected by AS Solar to be its long-term supplier supporting their growing portfolio of European projects," said Asola's founder and CEO, Reinhard Wecker. "Our state-of-the-art, high-efficiency modules and high-quality module production processes were key to meeting all of AS Solar's rigorous requirements for these projects."
Quantum has recently announced acquisition of a 25% stake in Asola, and also a long-term supply contract with Ersol Solar Energy AG for the procurement of 155 MW of high-efficiency silicon photovoltaic solar cells, starting in 2008. The Ersol agreement guarantees a supply of solar cells to Quantum and Asola, thereby avoiding any potential future disruptions due to polysilicon shortages, as have been recently experienced by the solar cell industry. Resulting sales from the supply agreement with Ersol are anticipated to generate US $500 million for Asola and Quantum.
"We are excited to be able to announce this contract award for Asola's solar modules so soon after entering into the recently announced long-term photovoltaic cell purchase agreement," said Alan P. Niedzwiecki, President and CEO of Quantum. "Demand for Asola's high-quality solar modules continues to grow in the expanding renewable energy markets in Germany, Spain, Italy, and France. With our supply of solar cells secured, we believe that Quantum and Asola are well-positioned to meet this demand in Europe as well as to capitalize on the opportunities in California and the rest of North America."
The Spanish solar energy market is projected to grow in excess of 67% per year. Both Alan Niedzwiecki and Reinhard Wecker presented Quantum's and Asola's clean energy solutions at 'Genera08' Energy and Environment International Trade-fair in Madrid, Spain, 26-28th of February, 2008.
About Quantum:
Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, fleets, aerospace industry, military and other government entities, and other strategic alliance partners. Quantum has also formed a new company with Fisker Coachbuild, LLC, which is called Fisker Automotive, Inc. Fisker Automotive will offer a range of environmentally friendly premium cars, incorporating Quantum's proprietary high-performance plug-in-hybrid electric vehicle architecture, known as "Q-Drive," into a unique chassis that will enable optimizing the performance and vehicle dynamics.
More information can be found about Quantum's products and services at http://www.qtww.com/ .
About Asola:
Asola Advanced and Automotive Solar Systems GmbH produces and markets high-quality silicon-based photovoltaic modules that comprise 4, 5, 6, or 6+ mono-crystalline or polycrystalline silicon cells. Asola's technologies include high output and high efficiency flat modules for residential and industrial applications, specialized spherical modules for automotive applications and modules for various thin film technologies. More information can be found in http://www.asola-power.com/.
Forward Looking Statements
Except for historical information, the statements, expectations, and assumptions contained in the foregoing press release are forward-looking statements. Such forward-looking statements include, but are not limited to, the Company's expectations regarding expected future revenues and operating results; future opportunities for Asola and Quantum; Asola's ability to secure solar cells and fulfill orders in the future; and other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management. Such statements are subject to a number of risks and uncertainties, and actual results could differ materially from those discussed in any forward-looking statement. Factors that could cause actual results to differ materially from such forward-looking statements include, among other factors, ASOLA's ability to expand production, the overall expansion of the solar industry, and general economic conditions. Reference should also be made to the risk factors set forth from time to time in the Company's SEC reports, including but not limited to those contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2007. The Company does not undertake to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.
For more information regarding Quantum, please contact:
Dale Rasmussen
Investor Relations
Email: DRasmussen@qtww.com
+1-206-315-8242
Dr. Neel Sirosh
Chief Technology Officer
Email: NSirosh@qtww.com
+1-949-399-4698
(C)2008 Quantum Fuel Systems Technologies Worldwide, Inc.
Advanced Technology Center
17872 Cartwright Road, Irvine, CA 92614
Phone 949-399-4500 Fax 949-399-4600
Quantum Fuel Systems Technologies Worldwide, Inc.
CONTACT: Investor Relations, Dale Rasmussen, +1-206-315-8242, DRasmussen@qtww.com, or Dr. Neel Sirosh, Chief Technology Officer, +1-949-399-4698, NSirosh@qtww.com, both of Quantum Fuel Systems Technologies Worldwide, Inc.
Web site: http://www.qtww.com/ http://www.asola-power.com/
News Archives of March 2008
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
News Archives other dates
2009: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2007: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2006: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec |