Companies news of 2008-03-11 (page 1)
Leggett & Platt Announces Development of Innovative Uses for Wireless TechnologyCompany...
TECH Semiconductor Chooses Vector Express for High Productivity and Improved...
McGraw-Hill Construction Launches Network Express to Empower CRM UsersProvides...
Conolog Reports Financial Results for the Quarter Ended January 31, 2008; Revenues...
Avensys Inc. Announces its Intention to Acquire the Assets of Willer Engineering...
Lockheed Martin Installs WindTracer Lidar System at Narita International AirportLaser...
Synergx Systems Inc. Announces New Transit Contracts
New comScore Report, 'Digital World: State Of The Internet,' Now Available for...
PacificNet Receives Notification From Nasdaq
International Lottery & Totalizator Systems, Inc. Delivers Customized Intelimark FLX...
Thomson Scientific présente Newport Horizon Premium et Newport Vision Premium
Vista Partners Updates Coverage on Orbit International Corp. (NASDAQ: ORBT) With $14.40...
TIE Technologies Appoints New Executive Vice President
Lottomatica Subsidiary GTECH Corporation Announces Developments in Pennsylvania
Harbin Electric Announces 2007 Annual Results Sales Grew Sixty-Two Percent Over Prior Year
Cognizant ouvre un nouveau centre de prestation de services en Argentine afin d'appuyer la...
eFuture to Roll Out Distribution Management Solution for Kimberly-Clark China
President Clinton to Inaugurate mtvU 'Editorial Board' Series at CGI U in New...
USA TODAY Launches Online Consumer Advertising Campaign
Alexander M. Cutler Nominated for Election to DuPont Board of DirectorsMasahisa Naitoh to...
Social Media: The Next Frontier in Employee CommunicationWatson Wyatt Experts Say Social...
Harford County, Maryland Residents to Benefit from Verizon Wireless Network...
Verizon Making Broadband a Reality in New Jersey in 2008 and BeyondVerizon's Wireline and...
Micromem Technologies Inc. appoints Henry N. Dreifus to board of directors
Calvert County, Maryland Residents to Benefit From Verizon Wireless Network...
AT&T Announces OPT-E-WAN, a Virtual Private LAN Service With National and Global Reach
Currituck County, North Carolina Residents to Benefit from Verizon Wireless Network...
Northampton County, Virginia Residents to Benefit from Verizon Wireless Network...
Charles County, Maryland Residents to Benefit from Verizon Wireless Network...
Leggett & Platt Announces Development of Innovative Uses for Wireless TechnologyCompany Pioneering Development for eCoupled Technology
CARTHAGE, Mo., March 11 /PRNewswire-FirstCall/ -- FORTUNE 500 diversified manufacturer Leggett & Platt, Incorporated today announced it has entered into a partnership with Fulton Innovation to develop applications for Fulton's eCoupled technology. Leggett plans to pioneer a variety of consumer and commercial products using Fulton's wireless power technology.
Leggett's first application of the technology debuted at the 2008 Work Truck Show in February. The Leggett & Platt Commercial Vehicle Products group showcased eCoupled technology that was integrated into interior shelving systems, rugged docking stations and vehicle mounts of commercial vehicles such as work trucks, emergency response vehicles and vans. Out of nearly 80 new product introductions at the Work Truck Show, Leggett received the New Product Innovation award.
"Leggett's use of wireless power technology demonstrates our commitment to develop innovative products through the use of new and advanced technologies with applications across many markets," said David S. Haffner, Leggett & Platt President and Chief Executive Officer.
Leggett identified eCoupled technology for potential applications when it was unveiled by Fulton Innovation at the Consumer Electronics Show in 2007. Within ten months, Leggett had entered into its agreement with Fulton Innovation and developed the first working prototype, which was unveiled at the 2008 Work Truck Show. Leggett anticipates its commercial and emergency vehicle products equipped with eCoupled technology will be in the market by early 2009.
Leggett's partnership with Fulton Innovation allows it to extend the use of eCoupled technology across multiple markets including retail store fixtures and point-of-purchase displays; commercial/industrial storage, shelving systems, work surfaces and food service preparation equipment; specialized commercial and emergency response vehicle power delivery applications; residential and bedroom furniture; and mattresses, mattress support and bedroom furniture.
How eCoupled Technology Works
Fulton Innovation's eCoupled technology is wireless power that uses an inductively coupled circuit to transfer power from surfaces to eCoupled-compatible devices. Secondary coils strategically placed in the surface areas adapt eCoupled technology's operation to match the needs of the devices it powers.
The eCoupled surface communicates with devices to determine not only its power needs, but also battery life and charging lifecycles. This two-way communication keeps devices running at peak efficiency.
Once placed on an eCoupled-enabled surface, devices charge at a rate comparable to traditional power sources. Additionally, eCoupled technology can charge multiple devices regardless of varying voltage requirements.
In terms of energy costs, eCoupled wireless power maximizes energy transfer efficiency at nearly 98 percent. This rate of efficiency makes eCoupled technology comparable to traditional hardwired power sources.
"At Leggett, we embrace new technology like eCoupled as an opportunity to grow in today's competitive global market," said Vincent Lyons, Leggett's Vice President of Engineering and Product Development and President of the Machinery and Technology Group. "The versatility of eCoupled technology offers Leggett the potential for new product development across multiple company sectors."
COMPANY DESCRIPTION: Leggett & Platt is a FORTUNE 500 diversified manufacturer that conceives, designs and produces a broad variety of engineered components and products that can be found in virtually every home, office, retail store, and automobile. The company serves a broad suite of customers that comprise a "Who's Who" of U.S. manufacturers and retailers. The 125-year-old firm's continuing operations are composed of 22 business units, 24,000 employee-partners, and more than 250 facilities located in 20 countries.
Leggett & Platt is North America's leading independent manufacturer of: a) components for residential furniture and bedding; b) retail store fixtures and point of purchase displays; c) components for office furniture; d) drawn steel wire; e) automotive seat support and lumbar systems; f) carpet underlay; g) adjustable beds; and h) bedding industry machinery for wire forming, sewing and quilting.
Leggett & Platt
CONTACT: Leggett & Platt, +1-417-358-8131
Web site: http://www.leggett.com/
TECH Semiconductor Chooses Vector Express for High Productivity and Improved PerformanceShipment Marks the 100th 300 mm Novellus Tool in the Southeast Asia Region
SAN JOSE, Calif., March 11 /PRNewswire-FirstCall/ -- Novellus Systems, Inc. , today announced that its VECTOR Express(TM) plasma enhanced chemical vapor deposition (PECVD) system has been successfully qualified for production at TECH Semiconductor. The Singapore-based DRAM manufacturer has selected VECTOR Express for its productivity enhancements, low defectivity and high yield at 300 mm.
The shipment also marks a major milestone in Novellus' rapid growth in the Southeast Asia market -- this is the 100th 300 mm tool from Novellus to be placed in the region.
"The unparalleled productivity demonstrated by VECTOR Express has helped TECH Semiconductor continuously drive down cost of ownership in the challenging DRAM marketplace," said Andrew Goh, president of Novellus' Southeast Asia operations. "TECH is pleased with Novellus' responsiveness and our commitment to improve productivity for a variety of applications, including AHM, TEOS, SiN and SiON films."
According to SEMI, the wafer processing equipment market in Southeast Asia is expected to grow at a rate of more than 7 percent in 2008. Singapore in particular continues to be a high-growth area for semiconductor manufacturing, with the addition of several new fabs and the expansion of existing ones.
"Southeast Asia is expected to be a growth region for semiconductor manufacturing in the coming years -- driven largely by memory manufacturers," said Tom Caulfield, executive vice president of sales, marketing and customer service at Novellus. "Our focus has always been on providing the highest value in capital productivity to our customers, and introducing the VECTOR Express into this region is another example of our goal to meet our customers' need for tools with lower cost of ownership."
About Novellus:
Novellus Systems, Inc. is a leading provider of advanced process equipment for the global semiconductor industry. The company's products deliver value to customers by providing innovative technology backed by trusted productivity. An S&P 500 company, Novellus is headquartered in San Jose, Calif. with subsidiary offices across the globe. For more information, please visit http://www.novellus.com/
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to (i) the expectation that the wafer processing equipment market in Southeast Asia will grow at a rate of more than 7 percent in 2008; (ii) the belief that Singapore continues to be a high-growth area for semiconductor growth; (iii) the expectation that Southeast Asia will be a growth region for semiconductor manufacturing in the coming years and that such growth will be driven by memory manufacturers and (iv) our goal of meeting our customer's needs for tools with lower cost of ownership. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. Such risks and uncertainties include, but are not limited to, fluctuations in the wafer processing equipment market; economic turmoil in Singapore and other parts of Southeast Asia; increased costs and unforeseen disruptions in the production of memory manufacturing; as well as other risks indicated in our filings with the Securities and Exchange Commission (SEC). For more details, please refer to our SEC filings and the amendments thereto, including our Annual Report on Form 10-K for the year ended December 31, 2007, and our Current Reports on Form 8-K. Forward-looking statements are made and based on information available to us on the date of this press release, and we assume no obligation to update them.
VECTOR Express is a trademark of Novellus Systems, Inc.
Novellus Systems, Inc.
CONTACT: Pushpita Prasad of Novellus Systems, Inc., +1-408-943-9700, pushpita.prasad@novellus.com; or Joseph R. Kilmer of The Hoffman Agency, +1-408-975-3032, jkilmer@hoffman.com, for Novellus Systems, Inc.
Web site: http://www.novellus.com/
McGraw-Hill Construction Launches Network Express to Empower CRM UsersProvides industry-leading content that easily integrates with CRM and Sales Force Automation (SFA) systems for smoother workflow, more leads, and increased sales
NEW YORK, March 11 /PRNewswire-FirstCall/ -- McGraw-Hill Construction, part of The McGraw-Hill Companies and the leading provider of information and intelligence to the construction industry, today announced the launch of Network Express. Network Express provides comprehensive project information from the industry-leading McGraw-Hill Construction Network(R), built on the Dodge database, for easy and flexible integration with CRM systems. The service also offers company data that has been cleansed of duplication, as well as leads generated from the McGraw-Hill Construction Sweets Network, media sites, and Target Leads/Spec Alerts.
"Many leading companies in the design and construction industry are increasingly investing in CRM systems to help their sales and marketing teams focus their efforts and identify and pursue the best opportunities. A CRM system is a great starting point, but to be successful you have to fill it with prospects and promising sales leads. That's what Network Express will do," said Potoula Chresomales, vice president of marketing and product development for McGraw-Hill Construction. "Network Express provides a daily feed of our construction leads from the McGraw-Hill Construction Network(R) directly and seamlessly into any CRM system. Network Express will turbo-charge a company's CRM investment," she added.
McGraw-Hill Construction has led the industry in content for more than a century. The Dodge database contains over 90% of all construction projects in the U.S. and Canada with construction values of $500,000 or more, plus:
-- 56% of the projects are private
-- 1.4 million companies
-- Coverage in the planning, bid, and post-bid stages of construction
McGraw-Hill also uses the Dodge database to pre-qualify users of the Sweets Network (http://www.sweets.com/), building product information, http://www.architecturalrecord.com,and/ http://www.enr.com/ to provide a broader range of leads that support the full spectrum of its clients' sales and marketing activities.
Network Express now provides easy integration of this content directly into any CRM system. It enables front-line sales personnel to quickly identify and prioritize people, companies, and projects of interest. Users can also follow up on hot sales leads from McGraw-Hill Construction Media and the Sweets Network, access plans and specifications, track project status through the sales cycle, and maximize their personal productivity -- resulting in better business decisions that yield more profitable results.
"To meet the varied needs of our customers, Network Express has two elements: a direct feed of content available through the Network Express service and set of Certified Partners that have deep expertise with integrating content into each of the leading CRM platforms," said Andrew Fischer, senior director, McGraw-Hill Construction Network. "McGraw-Hill Construction's certified partners are Astadia (http://www.astadia.com/, Salesforce.com); Code Theatre (http://www.ctcrmondemand.com/, Siebel On Demand); Infinity Info Systems (http://www.infinityinfo.com/, Microsoft CRM and Sage SalesLogix); and Ingenium (sso.constructionpoints.com, Construction Points). This group is growing, with new potential partners currently being assessed," he added. "By partnering with companies that have extensive experience with these platforms, we provide world-class service to our customers. Network Express will enable flexibility and seamless integration into our customers' CRM systems, whether by our partner integrators, or by our customers' own IT teams. Our goal is to make integration quick and easy so our customers don't miss a beat. Whether our customers want to integrate project leads into their home-grown CRM system, an off-the-shelf SFA tool, or a complex enterprise wide CRM implementation, we're ready to make it easy so they can maximize their return on investment."
Ms. Chresomales added, "We have worked very closely with our customers to understand how they work, the tools they use, and the approaches they take. Day-in-the-life market research techniques are helping us learn to walk in their shoes. With our strategic partners, we are embedding our rich content directly into the workflow tools that our customers use on a daily basis. Enabling CRM integration is one element of that strategy. We are pursuing similar integrations with leading document management systems, project management systems, architect workflow tools and other applications that are at the heart of our industry."
For more information, visit http://www.construction.com/network/network-express/.
About McGraw-Hill Construction
McGraw-Hill Construction connects people, projects and products across the design and construction industry. For more than a century, the Company has remained North America's leading provider of construction project information, plans and specifications, product information, industry news, and industry trends and forecasts. In print and online, The Company offers a variety of tools, applications, and resources that easily integrate with its customers' workflows. Backed by the power of Dodge, Sweets (http://www.sweets.com/), Architectural Record (http://www.architecturalrecord.com/), Engineering News-Record (http://www.enr.com/), GreenSource (http://www.greensourcemag.com/) and 11 regional publications, McGraw-Hill Construction serves more than one million customers within the $4.6 trillion global construction community. To learn more, visit http://www.construction.com/.
About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands including Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com/.
McGraw-Hill Construction
CONTACT: Kathy Malangone McGraw-Hill Construction +1-212-904-4376 kathy_malangone@mcgraw-hill.com
Web site: http://www.mcgraw-hill.com/ http://www.construction.com/ http://www.construction.com/network/network-express
Conolog Reports Financial Results for the Quarter Ended January 31, 2008; Revenues Increase 134% Year-Over-Year
SOMERVILLE, N.J., March 11 /PRNewswire-FirstCall/ -- Conolog Corporation announced today the results for the three and six months ended January 31, 2008.
Product revenues for the six months ended January 31, 2008 totaled $522,727, an increase of 92% from the $272,324 reported for the same period last year. The Company attributes the gain from increased order releases from utilities. For the three months ended January 31, 2008, product revenues totaled $338,174, an increase of 134% over the same three-month period last year.
Gross profit from operations for the three and six months ended January 31, 2008 were $244,721 and $226,125, respectively.
Selling, general and administrative expenses for the three and six months ended January 31, 2008 were $1,316,604 and $2,188,990, respectively, including for the six months, non-operating expenses for stock compensation of $779,030, stock compliance costs of $166,792, research and development costs of $77,262, professional fees of $224,119 and marketing/trade show costs of $215,930.
Other non-cash non-operating expenses for the six-month period ended January 31, 2008 included an induced conversion cost of $944,362, discount on converted debt of $705,088, deferred debenture discount of $349,939 and deferred debenture costs of $252,370.
As a result of the foregoing, the Company reported a net loss from operations for the six months ended January 31, 2008 of ($0.84) per share, respectively, compared to a loss of ($2.54) per share for the same period of last year.
About Conolog Corporation
Conolog Corporation is a provider of digital signal processing and digital security solutions to electric utilities worldwide. The Company designs and assembles electromagnetic products to the military and provides engineering and design services to a variety of industries, government organizations and public utilities nationwide. The Company's INIVEN division is a provider of a line of digital signal processing systems, including transmitters, receivers and multiplexers.
Contact: Conolog Corporation: Robert Benou, Chairman, 908-722-8081
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products introduced by competitors, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Conolog Corporation
CONTACT: Robert Benou, Chairman of Conolog Corporation, +1-908-722-8081
Web site: http://www.conolog.com/
Avensys Inc. Announces its Intention to Acquire the Assets of Willer Engineering LimitedAvensys Inc.'s Environmental Solutions Division Signs Definitive Asset Purchase AgreementThe Business Combination Is Expected to generate $15 Million Dollar in Annual Revenues
MONTREAL, March 11 /PRNewswire/ -- Avensys Inc., a leading manufacturer and distributor of fiber optic components and integrator of instrumentation and turn-key systems for environmental monitoring and a wholly owned subsidiary of Avensys Corporation (OTC Bulletin Board: AVNY; FRANKFURT WKN: A0M9YA) today announced it has entered into an asset purchase agreement with Willer Engineering Limited, a privately-owned Toronto-based company providing the Canadian Industrial marketplace with industrial process measurement and Continuous Emission Monitoring (CEM) instrumentation solutions for more than 45 years.
Upon the close of the acquisition, the assets of Willer Engineering will be merged with Avensys Inc.'s environmental instrumentation division, Avensys Environmental Solutions. The merger is expected to result in a business generating $15 million a year in revenues, in a market where most players are significantly smaller. It will also result in significant cost synergies and the ability to expand product lines and services beyond current capabilities.
As a result of this acquisition, Avensys Environmental Solutions will expand its value-added turn-key solutions capabilities and will be better positioned to respond to the needs of large industrial customers requiring tighter integration of process and emission monitoring instrumentation and data acquisition.
The combination of Willer's know-how in the industrial process industry combined with the strength of Avensys' Environmental monitoring solutions and its wider geographical coverage will position the merged entity to take advantage of the growth associated with tighter control of industrial emissions and greenhouse effect gases.
"We have identified significant new revenue growth opportunities resulting from the synergies derived from the combination of our respective expertise, market niches, product lines, sales skills and geographical coverage," says Marie-Annick Riel, General Manager of Avensys Environmental Solutions.
"Willer has been a solid company and carries an excellent reputation in its marketplace," adds Ed Allen, President of Willer Engineering Limited. "We bring the engineering credibility needed to take the new Avensys Environmental Solutions to new key industrial markets."
About Willer Engineering Limited
For over 45 years, Willer Engineering has provided professional instrumentation solutions, products and service to the industrial, process and scientific markets in Eastern Canada. Its goal has been to provide consistent solutions to process measurement and control applications utilizing top performing products from proven manufacturers in step with the latest technologies. It applies the knowledge of its people and associates to offer equipment, systems and service to improve customer product quality, increase productivity, reduce downtime and meet environmental regulations.
About Avensys Corporation
Avensys Corporation operates Avensys Inc., its wholly-owned core subsidiary. Avensys Inc., through its manufacturing division Avensys Technologies, designs, manufactures, distributes, and markets high reliability optical components and modules as well as FBGs for the telecom market and high power devices and sub-assemblies for the industrial market. Avensys Technologies is also a pioneer in the development of packaged fiber-based sensors and possesses leading edge intellectual property. Avensys Environmental Solutions, also a division of Avensys Inc., is an industry leader in providing environmental monitoring solutions for air, water and soil in the Canadian marketplace. To find out more about Avensys Environmental Solutions, please visit our webiste at http://www.avensyssolutions.com/ . For Avensys Corporation company news and updates you can also visit http://www.avensyscorporation.com/
Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
For more information, please contact:
Truc Nguyen or Christopher Chu
The Global Consulting Group
T: +1-646-284-9400
E: tnguyen@hfgcg.com | E: cchu@hfgcg.com
Avensys Inc.
CONTACT: Truc Nguyen, tnguyen@hfgcg.com, or Christopher Chu, cchu@hfgcg.com, both of The Global Consulting Group, +1-646-284-9400
Web site: http://www.avensyssolutions.com/ http://www.avensyscorporation.com/
Lockheed Martin Installs WindTracer Lidar System at Narita International AirportLaser Radar System Detects Low-Level Wind Shear, Improves Flight Safety in Tokyo
DENVER, March 11 /PRNewswire/ -- Lockheed Martin announced the Japan Meteorological Agency has purchased a second WindTracer(R) lidar system, which will operate at the Narita International Airport in Tokyo.
Developed and produced by Lockheed Martin Coherent Technologies, the WindTracer is providing advanced warning of wind hazards by continuously scanning the approach and departure corridors, enabling air traffic control personnel to offer precise, timely direction to pilots during their most critical phase of flight.
Lockheed Martin collaborated with the Kanematsu Corporation of Japan to introduce the WindTracer to the Japan Meteorological Agency (JMA). The first WindTracer was installed at Tokyo's Haneda Airport in 2006. The internationalization and localization of the system into the Japanese language was completed in time for this recent deployment at the Narita Airport. Lockheed Martin is now able to quickly and easily localize the user interface, thus expanding the market reach of WindTracer to airports worldwide.
"We are honored to continue our work with JMA," said Dr. Stephen Hannon, Products Group director for Lockheed Martin Coherent Technologies. "It's exciting to install a second WindTracer in Japan and see how it's benefiting passengers flying in and out of that country's premier international airport. WindTracer's Doppler lidar technology has made a significant contribution to aviation safety and airport operational efficiency with its wind-hazard alerting capabilities."
The JMA is the Japanese government's weather service. Charged with gathering and reporting weather data and forecasts in Japan, it is an extra-ministerial bureau of the Ministry of Land, Infrastructure and Transport and Tourism. Narita International Airport is the second-busiest passenger airport in Japan. It handles the majority of international passenger traffic to and from Japan, and is a major connecting point for air traffic between Asia and the Americas.
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.
MEDIA CONTACT:
Gary Napier, Lockheed Martin Space Systems Company; (303) 971-4012;
gary.p.napier@lmco.com
Lockheed Martin
CONTACT: Gary Napier of Lockheed Martin Space Systems Company, +1-303-971-4012, gary.p.napier@lmco.com
Web site: http://www.lockheedmartin.com/
Synergx Systems Inc. Announces New Transit Contracts
SYOSSET, N.Y., March 11 /PRNewswire-FirstCall/ -- Synergx announces that its Casey Systems subsidiary has secured two contracts for an aggregate of approximately $4.8 million to provide security and data systems to the New York City Transit Authority. Although Management expects these projects to be performed substantially during the next twelve months there can be no assurance that changes in schedules will not be experienced which could impact results in any given period.
Synergx is engaged in the design, manufacture, marketing and service of a variety of data communication products and systems with applications in the fire alarm, life safety, security and communication industries. For further information about Synergx please go to our website at WWW.SYNERGXSYSTEMS.COM.
"Safe Harbor" statement under the Private Securities Reform Act of 1995: This release contains forward-looking statements, which reflect management's current views of future events and operations. These forward-looking statements are based on assumptions and external factors, including assumptions relating to product pricing, competitive market conditions, financial data, and other risks or uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release and any changes in the assumptions of external factors could produce significantly different results.
Synergx Systems Inc.
CONTACT: John Poserina, Chief Financial Officer of Synergx, +1-516-433-4700
Web site: http://www.synergxsystems.com/
New comScore Report, 'Digital World: State Of The Internet,' Now Available for PurchaseReport Analyzes Trends Across Worldwide Regions and 23 Individual Countries
RESTON, Va., March 11 /PRNewswire-FirstCall/ -- comScore, Inc. , a leader in measuring the digital world, today announced the availability of its new report, "Digital World: State of the Internet," for purchase. The report is the first publicly available, comprehensive global view of Internet usage trends across various worldwide regions, including in-depth spotlights on 23 countries.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO)
The Internet has become an integral part of work life, personal life, and even social life in most parts of the world. Despite frequent news stories about a burgeoning world of online developments, until now there has never been a single reference volume that synthesizes the threads of global Internet activity into an easy to read, comprehensive report, making it an indispensable reference tool for any marketer, Web site publisher, or investor who needs to understand how the Internet is being used, what online trends are emerging across categories and across countries, and where future growth indicates new online investment opportunities exist.
The 80-page report also includes the first look into a number of worldwide markets, including China, Japan, and India, and covers online activities such as search, email, social networking, entertainment, gaming, news, among others.
"This is a great paper," said Joe Schoendorf, General Partner at Accel and strategic partner of the World Economic Forum. "In many ways, comScore is tracking the economic heartbeat of the globe."
The report is priced at $4,999 for the first copy, $999 for each additional copy shipped to the same address, and can be purchased online at http://www.comscore.com/reports. The report will begin shipping on March 17.
About comScore
comScore, Inc. is a global leader in measuring the digital world. This capability is based on a massive, global cross-section of more than 2 million consumers who have given comScore permission to confidentially capture their browsing and transaction behavior, including online and offline purchasing. comScore panelists also participate in survey research that captures and integrates their attitudes and intentions. Through its proprietary technology, comScore measures what matters across a broad spectrum of behavior and attitudes. comScore analysts apply this deep knowledge of customers and competitors to help clients design powerful marketing strategies and tactics that deliver superior ROI. comScore services are used by nearly 900 clients, including global leaders such as AOL, Microsoft, Yahoo!, BBC, Carat, Cyworld, Deutsche Bank, France Telecom, Best Buy, The Newspaper Association of America, Financial Times, ESPN, Fox Sports, Nestle, Starcom, Universal McCann, the United States Postal Service, Verizon, ViaMichelin, Merck and Expedia. For more information, please visit http://www.comscore.com/
Photo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
comScore, Inc.
CONTACT: Andrew Lipsman of comScore, Inc., +1-312-775-6510, press@comscore.com
Web site: http://www.comscore.com/
PacificNet Receives Notification From Nasdaq
BEIJING, March 11 /Xinhua-PRNewswire-FirstCall/ -- PacificNet, Inc. reported today that the Nasdaq Stock Market (''Nasdaq'') has indicated that it previously sent a letter to the effect that as a result of the resignation of one of the Company's directors, the Company was no longer in compliance with the independent director requirement of Rule 4350 of Nasdaq's Marketplace Rules. Due to the fact that the letter was sent to an incorrect email address at PacificNet on February 29th, however, PacificNet was not actually made aware of such deficiency notification until subsequent to the appointment of Mr. Stephen Crystal to the Company's board of directors, as previously reported on March 3, 2008. PacificNet believes it is now in full compliance with the independent director requirement of Rule 4350 and although it has not yet received a compliance letter from Nasdaq in this regard, it expects that one will be issued in due course.
On March 3, PacificNet announced that it had elected Stephen Crystal to be a member of the Board of Directors of PacificNet as an Independent Director.
Mr. Crystal is currently Chief Executive Officer and President of TableMAX Holdings, LLC, a leading provider of electronic table games. Mr. Crystal is also a former board member of Las Vegas Gaming, Inc., a game management system operator as well as founder and managing member of JMC Investments, LLC, an investment company whose portfolio includes gaming real estate and operations, gaming technology, hospitality and entertainment, and franchise assets. Prior to that, Mr. Crystal co-founded Barrick Gaming Corporation, which owned and operated six hotel casinos in Las Vegas. Prior to entering the gaming world, Mr. Crystal practiced law at Armstrong Teasdale, LLP, Gage & Tucker L.C, and Wirken & King, P.C. Mr. Crystal also served as an Equal Opportunity Specialist for the United States Department of Labor from May 1990 to May 1992 and served in the New Hampshire House of Representatives from December 1988 to August 1989. Mr. Crystal received his law degree from the American University, Washington College of Law in 1992 and his Bachelor degree from Dartmouth College in Political Science in 1986.
About PacificNet
PacificNet, Inc. ( http://www.pacificnet.com/ ) is a leading provider of gaming and mobile game technology worldwide with a focus on emerging markets in Asia, Latin America and Europe. PacificNet's gaming products are localized to their specific markets creating an enhanced user experience for players and larger profits for operators. PacificNet's gaming products include multi-player electronic table games such as baccarat, sicbo and fish-prawn-crab, roulette machines, Server-Based Games (SBG) with multiple client betting stations, slot and bingo machines, Video Lottery Terminals (VLTs), Amusement With Prizes (AWP) machines, gaming cabinet and client/server system designs, online i-gaming software design, and multimedia entertainment kiosks as well as the Octavian line of casino management software, hardware and games. PacificNet's gaming clients include the leading hotels, casinos, and gaming operators in Macau, Europe and elsewhere around the world. PacificNet also maintains legacy subsidiaries in the call center and ecommerce business in China. PacificNet employs about 1,800 staff in its various subsidiaries with offices in the US, Hong Kong, China, UK, Russia, Ukraine, Italy, Germany, Argentina, Colombia, India and Australia. For more information please visit http://www.pacificnet.com/ and http://www.octavianinternational.com/ .
Safe Harbor Statement
This Company's announcement contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic reports to the SEC on Forms 10-K, 10-Q, 8-K, etc., in our annual report to shareholders, in our proxy statements, in press releases and other written materials and in oral statements made by our officers, directors or employees to third parties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, PacificNet's historical and possible future losses, limited operating history, uncertain regulatory landscape in China, and fluctuations in quarterly and annual operating results. Further information regarding these and other risks is included in PacificNet's Form 10K and other filings with the SEC.
For more information, please contact:
If to PacificNet:
PacificNet USA office:
Jacob Lakhany
Tel: +1-605-229-6678
Email: investor@pacificnet.com
PacificNet, Inc.
CONTACT: Jacob Lakhany of PacificNet USA office, +1-605-229-6678, or investor@pacificnet.com
Web Site: http://www.pacificnet.com/ http://www.octavianinternational.com/
International Lottery & Totalizator Systems, Inc. Delivers Customized Intelimark FLX Terminals to Sports Toto Malaysia
VISTA, Calif., March 11 /PRNewswire-FirstCall/ -- INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS, INC. (BULLETIN BOARD: ITSI) announced that it has completed delivery of new Intelimark FLX terminals to Sports Toto Malaysia. Installations of the new customized Intelimark FLX terminals began on February 21 in selected existing outlets throughout Malaysia. The terminals are installed to provide for a higher level of service during peak sales periods and additional convenience to players. Sports Toto Malaysia is the sole national lotto operator in Malaysia.
"Sports Toto is the largest lottery operator in Malaysia, and we are extremely pleased with their continued confidence in our products and services," said ILTS President, Jeff Johnson. "These Intelimark FLX terminals are a customized modular version specifically configured for Sports Toto Malaysia."
International Lottery & Totalizator Systems, Inc. provides computerized wagering systems, equipment and services to lottery and racing organizations worldwide. ILTS can be found on the World Wide Web at http://www.ilts.com/.
This press release includes forward.looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This Act provides a "safe harbor" for forward.looking statements to encourage companies to provide prospective information about themselves so long as they identify these statements as forward looking and provide meaningful cautionary statements identifying important factors that could cause actual results to differ from the projected results. All statements other than statements of historical fact, including statements regarding industry prospects and future results of operations or financial position, made in this press release are forward.looking. We use words such as "anticipate," "believe," "expect," "future," "intend" and similar expressions to identify forward.looking statements. Forward.looking statements reflect management's current expectations, plans or projections and are inherently uncertain. Our actual results may differ significantly from management's expectations, plans or projections. Readers are cautioned not to place undue reliance on these forward.looking statements, which speak only as of the date hereof. We undertake no obligation to publicly release any revisions to these forward.looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are urged, however, to review the factors set forth in reports that we file from time to time with the Securities and Exchange Commission.
International Lottery & Totalizator Systems, Inc.
CONTACT: Jim Snow of International Lottery & Totalizator Systems, Inc., +1-760-598-1655
Web site: http://www.ilts.com/
Thomson Scientific présente Newport Horizon Premium et Newport Vision Premium
PHILADELPHIE et LONDRES, March 11 /PRNewswire/ --
- Le leader de l'industrie en matière d'informations sur le marché des
génériques offre deux nouvelles solutions pour optimiser l'avantage
concurrentiel
Thomson Scientific, société de The Thomson Corporation (NYSE : TOC ;
TSX : TOC) et principal fournisseur de solutions d'informations aux
communautés de recherche et commerciales du monde entier, a annoncé
aujourd'hui le lancement des solutions Newport Horizon Premium et Newport
Vision Premium, conçues spécifiquement pour les professionnels travaillant
dans la sélection des produits, le développement commercial, l'intelligence
concurrentielle et la fourniture d'API (Active Pharmaceutical Ingredient).
L'utilisation de ces solutions permettra aux sociétés d'innovation, de
produits génériques et de produits pharmaceutiques en vente libre ainsi
qu'aux fabricants d'API du monde entier de trouver plus rapidement les
meilleures opportunités de développement pour leurs produits, et permettra
aux innovateurs de réaliser des analyses approfondies sur l'émergence de la
concurrence des produits génériques.
Newport Horizon Premium et Newport Vision Premium associent des
informations sur les ventes, le lancement, les brevets, les brevets en
instance, l'exclusivité, la chimie, la prescription et la réglementation pour
plus de 10 000 molécules, 18 000 entreprises, 67 marchés et 90 pays dans le
monde présentant un développement d'API unique et précoce et une intelligence
de fabrication. Ces solutions reposent sur le succès important d'Horizon
Global et de Vision CI, en ajoutant les données de consommation d'API en
kilogrammes et UI (Unités internationales) d'IMS Health aux données et
capacités déjà disponibles. Ces données seront dorénavant disponibles pour
des milliers de médicaments par région et forme de dose pour l'année en cours
et l'année précédente, et permettront aux clients d'évaluer l'échelle, les
tendances de consommation et les prix des ingrédients actifs, autant
d'informations qui peuvent être difficiles à évaluer uniquement sur la base
des données de vente.
<< En tant qu'autorité de l'industrie sur le marché mondial des
médicaments génériques, nous reconnaissons le besoin d'informations complètes
sur le marché des génériques, qui donneront aux clients un avantage
concurrentiel clair sur leurs compétiteurs >>, a déclaré Claude Basset,
vice-président, PharmaChem Specialty Markets, Thomson Scientific. << Nous
avons développé Newport Horizon Premium et Newport Vision Premium pour aider
les clients à améliorer leur productivité, accélérer les délais de
commercialisation, et gagner en compétitivité sur le marché des
génériques. >>
Ces deux nouvelles solutions, Newport Horizon Premium et Newport Vision
Premium, répondent aux besoins des petits et grands acteurs du marché des
produits pharmaceutiques et offrent de puissantes fonctions de recherche à
critères multiples. Newport Horizon Premium est destiné à aider les sociétés
de produits génériques, produits en vente libre et API dans leur lutte
constante pour conclure des affaires plus rapidement et accélérer les délais
de commercialisation. Newport Vision Premium vise à aider les principales
sociétés pharmaceutiques à évaluer les premiers signes de concurrence des
produits génériques pour leurs marques, et identifier des sources de
sauvegarde ou d'autres sources de fourniture d'API.
A propos de The Thomson Corporation
The Thomson Corporation (www.thomson.com) est un leader mondial de la
fourniture de solutions électroniques cruciales de flux de travaux pour les
clients commerciaux et professionnels, son siège opérationnel se trouve à
Stamford (Connecticut). Thomson fournit des informations à valeur ajoutée,
des outils logiciels et des applications aux professionnels dans les domaines
du droit, de la fiscalité, de la comptabilité, des services financiers, de la
recherche scientifique et des soins de santé. Les actions ordinaires de The
Thomson Corporation sont cotées aux bourses de New York et Toronto
(NYSE : TOC ; TSX : TOC).
Thomson Scientific est une société de The Thomson Corporation. Ses
solutions d'information assistent les professionnels à chaque stade de la
recherche et du développement, qu'il s'agisse de la découverte, de l'analyse,
du développement ou de la distribution des produits. Les solutions
d'information de Thomson Scientific sont disponibles sur
scientific.thomson.com.
Site Web : http://www.scientific.thomson.com
http://www.thomson.com
Thomson Scientific
Eoin Bedford, Thomson Scientific, +44-207-433-4691, eoin.bedford@thomson.com
Vista Partners Updates Coverage on Orbit International Corp. (NASDAQ: ORBT) With $14.40 Target Price
LOS ANGELES, March 11 /PRNewswire/ -- Vista Partners announced today that it has updated its coverage on Orbit International Corp. following the release of Orbit's fourth quarter and 2007 year end earnings. Vista Partners raised its target price on ORBT to $14.40. Ross Silver, Director of Research of Vista Partners stated, "Orbit is one of the best small cap investment opportunities investors will come across. Orbit is lead by a top tier management team which has the company highly profitable and growing. Management recently issued guidance and the midpoint of sales guidance represents 34% year over year growth. Despite the turmoil in the global markets, Orbit has seen minimal erosion in its value because the company continues to perform."
About Vista Partners:
Vista Partners provides independent, equity research to institutional and individual investors, with a focus on publicly traded small capitalization companies. With offices in Los Angeles and San Francisco, Vista Partners is one of the fastest growing independently owned equity research firms. Vista Partners professional staff has backgrounds in finance, corporate communications and investment banking. More information is available at http://www.vistap.com/.
About Orbit International Corp.:
Orbit International Corp. is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facilities in Hauppauge, New York, Quakertown, Pennsylvania and Louisville, Kentucky. Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units, AC power sources, frequency converters, uninterruptible power supplies and associated analytical equipment. The Behlman military division designs, manufactures and sells power units and electronic products for measurement and display.
Contact:
Vista Partners LLC
Ross Silver
(415) 738-6229
info@vistap.com
http://www.vistap.com/
Vista Partners
CONTACT: Ross Silver of Vista Partners LLC, +1-415-738-6229, info@vistap.com
Web site: http://www.vistap.com/
TIE Technologies Appoints New Executive Vice President
NEW YORK, March 11 /PRNewswire-FirstCall/ -- TIE Technologies, Inc. announced today the appointment of Mark Marangella as executive vice president of strategic planning and business development for TIE Technologies. Marangella has been a top telecommunications executive for several Fortune 500 companies specializing in the wireless and satellite sectors.
"Mark Marangella's extensive experience in the identification, analysis, and selection of new business opportunities make him the perfect choice to be the architect of TIE's next phase of growth," said Edward Andercheck, TIE Technologies' chairman and CEO.
Marangella has established and managed a number of global strategic alliances and partnerships, preparing and implementing complex operating plans including joint ventures, mergers and acquisitions. He has been the chief development officer for Loral/Qualcomm's Globalstar, Lockheed-Martin's Satphone, and EADS's EAST. As founding development director for wireless solutions at NEC Technologies, Marangella pioneered the technology integration of the computer laptop and cell-phone that led to the first operational PCMCIA card and the emergence of wireless laptop communication.
ABOUT TIE TECHNOLOGIES, INC.
TIE Technologies is a systems integration and telecommunications company focused on engineering and delivering innovative solutions within the competitive global voice, video and data communications markets. The company brings managed IT, telecommunications and wireless services to support its clients. Services and outsource solutions include application and database hosting, disaster recovery, redundancy, data transport, customer service, billing, etc. TIE Technologies (TIE) is a development stage public company introducing new products to the marketplace in 2008, and traded on the Pink Sheets under the symbol "TIET".
Safe Harbor Statement
The information in this release, other than historical information, may be considered forward-looking statements within the provisions of the Private Securities Litigation Reform Act of 1995. Projection and other forward-looking statements and management expectations regarding future events and/or financial performance of the Company -- although given in good faith -- are inherently uncertain and actual events and/or results may differ materially.
Contact: Total Communications
212-494-3400
Investor.relations@tietechnologies.com
TIE Technologies, Inc.
CONTACT: Total Communications, +1-212-494-3400, Investor.relations@tietechnologies.com
Web site: http://www.tietechnologies.com/
Lottomatica Subsidiary GTECH Corporation Announces Developments in Pennsylvania
ROME and PROVIDENCE, R.I., March 11 /PRNewswire-FirstCall/ -- Lottomatica S.p.A.'s (Pink Sheets: LTTOY) wholly-owned subsidiary, GTECH Corporation, today announced that it has been informed by the Pennsylvania Lottery of their intent to seek best and final offers (BAFO) from the two bidders who submitted proposals for the Lottery's online and instants-system procurement. Previously, the Lottery had announced its intent to award the contract to GTECH and had entered into negotiations with the Company.
During the negotiations, GTECH proposed its Altura(R) terminal as an alternative to the Imagine(TM) terminal that was included in the original proposal. The formal market launch of the Imagine terminal has been delayed. It will now enter into production in late 2008 which would not meet the implementation schedule of the Lottery.
Although the Altura meets the requirements of the Lottery's Request for Proposal (RFP), it was not proposed and therefore not evaluated as part of the process. For this reason, the Lottery decided to seek BAFOs from the bidders.
Commenting on the matter, GTECH CEO Jaymin B. Patel said, "We are awaiting further instructions on the BAFO process and look forward to responding. The delayed launch of the Imagine terminal is unfortunate but necessary. The Imagine terminal has been under development for the past three years, and the Company is confident that it will become the standard for the next generation of terminal technology."
"GTECH has a family of terminals that is field proven, highly reliable, and sets the standard in lottery ticket sales around the world," continued Mr. Patel. "We have every expectation of successfully meeting the Lottery's requirements in Pennsylvania."
The delay in the launch of the Imagine impacts a limited number of customers with whom GTECH has been successfully developing alternatives. The Company does not anticipate that the delayed launch will have any material financial impact on its long term outlook.
Lottomatica is one of the world's largest commercial lottery operators and a market leader in the Italian gaming industry. GTECH is a leading gaming technology and services company, providing innovative technology, creative content, and superior service delivery. GTECH and Lottomatica together create a fully integrated lottery operator and gaming technology solutions provider -- a combined company with worldwide scale, considerable financial strength, and industry-leading customer solutions. Lottomatica is majority owned by De Agostini, which belongs to a century-old publishing, media, and financial services group. Lottomatica is publicly traded on the Italian Stock Exchange (LTO), and in 2007, had approximately euro 1.7 billion in revenues and 5,900 employees in over 45 countries when combined with GTECH.
For further information:
AD HOC Communication Advisors 02/7606741 -- Mario Pellegatta -- Matteo Cidda
This press release and the previous ones are available on the web site:
http://www.adhoccommunication.it/
Lottomatica web site: http://www.gruppolottomatica.it/
GTECH contact: Robert K. Vincent Public Affairs 1-401-392-7452
GTECH web site: http://www.gtech.com/
GTECH Corporation
CONTACT: Robert K. Vincent, Public Affairs for GTECH Corporation, +1-401-392-7452
Web site: http://www.gtech.com/ http://www.adhoccommunication.it/
Harbin Electric Announces 2007 Annual Results Sales Grew Sixty-Two Percent Over Prior Year
Fiscal Year 2007 Financial Highlights
-- Total revenues were $65.4 million, an increase of 62% compared to $40.4
million in 2006
-- Operating profit was $23.7 million, up 69% year-over-year
-- Gross profit margin increased to 49.6% from 48.6% in 2006
-- Net income was $16.9 million, down 8% from $18.4 million in 2006 which
benefited from a one-time non-cash income of approximately $6.4 million
-- Diluted earnings per share were $0.91 for 2007, compared to $1.01 for
2006. Excluding the non-cash charge related to the amortization
expense of the debt discount and the effect of the accounting
adjustment on the fair value of the warrants, diluted earnings per
share would have increased 55% to $1.15 for 2007 compared to $0.74 for
2006
HARBIN, China, March 11 /Xinhua-PRNewswire-FirstCall/ -- Harbin Electric, Inc., (or the ''Company'', Nasdaq: HRBN), a market leader in customized linear motors, motor/controller automation systems, automobile specialty micro-motors, and other special motors, announced its financial results and filed its 10-KSB on March 10, 2008 for the fiscal year ended December 31, 2007.
Financial Highlights for 2007
2007 2006 YoY%
Change
Revenue $65,402,864 $40,415,777 62%
Gross Profit $32,434,977 $19,661,495 65%
Gross Profit
Margin 49.6% 48.6%
Operating Income $23,711,292 $13,994,235 69%
Operating Margin 36.3% 34.6%
Net Income $16,902,684 $18,438,512 (8%)
Net Profit Margin 25.8% 45.6%
Diluted EPS $0.91 $1.01 (10%)
Tianfu Yang, Harbin Electric Chairman and Chief Executive Officer commented, ''We are very happy with our financial performance in 2007 which built on the momentum from 2006. We believe that our solid year-over-year growth demonstrates the successful execution of the business strategy that we have laid out for the Company. Particularly, our proprietary technology and product development capability helped gross profit margin increase to 49.6% in 2007, in our view, a remarkable achievement given that gross margin very rarely exceeds 45% in our industry. We believe that this further demonstrates our unique and strong competitive position in the market place. Our successful acquisition and integration of the automobile specialty micro-motors business was, in our view, a key factor in our growth. Although this business only contributed to our second half of the year results, it already accounted for approximately 16% of total revenues for the entire year. Sales of our core linear motor business including our new Tower Type Oil Pump also expanded alongside the growth in sales to our existing customers. Direct sales of our products to markets outside China also increased significantly.''
Revenues
For the 2007 fiscal year, revenues increased by $25.0 million or 62% to $65.4 million from $40.4 million in 2006. Linear motors and related integrated application systems generated 56% of our revenues, automobile specialty micro-motors generated 16% of our revenues, and controllers, armatures, and other special motors generated 28% of our revenues compared to 67%, 0%, and 33% respectively in 2006.
The sixty-two percent year-over-year increase in revenues was primarily driven by increased sales from existing customers and from the acquisition of Harbin Taifu Auto Electric Co., Ltd., a manufacturer of automobile specialty micro-motors that the Company acquired in July 2007. Revenues from the acquired automobile specialty micro-motors business contributed approximately $10.5 million to total revenues, representing 42% of the total revenue growth. The remaining 58% of total revenue growth came from increased purchases by existing customers of linear motor, armature and micro-motor products, and the new Tower Type Oil Pump which was launched in early 2007. The Company delivered 13 units of the Tower Type Oil Pump in 2007.
The Company's products that were sold directly to markets outside China increased to 12.4% of total sales in 2007 from 3.1% in 2006, reflecting the rapid growth of the Company's international business.
Gross Profit
The Company reported a gross profit of $32.4 million in 2007 compared to $19.7 million in 2006, representing a 65% year-over-year increase primarily driven by higher sales volume and improved product mix. The overall gross profit margin, as a percentage of revenue, was 49.6% in 2007 compared to 48.6% in 2006. The increase in gross profit margin was largely driven by growth in the sales of higher margin linear motors including the Tower Type Oil Pump. By segment, the gross profit margin was 52% for linear motors, and 44% for automobile specialty micro-motors. Gross profit margin for the Tower Type Oil Pump product was 53%. Changes in raw materials prices did not have a material impact on gross margins in either 2007 or 2006.
Operating Income
The Company achieved a 69% year-over-year growth in operating profit, to $23.7 million in 2007 from $14.0 million in 2006. The significant growth in operating profit was primarily attributable to the overall growth in sales. Operating margin for 2007 was 36.3%, up from 34.6% in 2006, reflecting what we believe to be our improved operating efficiency and better diversified product mix.
Selling, general and administrative expense was $7.7 million, or 11.7% of sales, in 2007, compared to $4.2 million, or 10.3% of sales, in 2006. The year-over-year increase in SG&A was primarily due to higher shipping, sales and marketing, and administrative costs as a result of volume growth and increased sales activity. Additionally, higher consulting, auditing, legal and administrative expenses associated with the Company's listing on NASDAQ in January 2007 contributed significantly to the increase in SG&A costs.
However, as a percentage of total sales, the Company's total operating expenses declined to 13.3% in 2007 from 14.0% in 2006, reflecting the Company's success in controlling cost and improved efficiency derived from the substantial year-over-year revenue growth.
Net Income
Net Income for 2007 was $16.9 million ($0.91 per diluted share) compared to $18.4 million ($1.01 per diluted share) for 2006 which included a one-time non-cash income of approximately $6.4 million as a result of an accounting adjustment in the fair value of the warrants due to a change in accounting principle. This accounting adjustment increased net earnings by $0.35 per diluted share in 2006.
Excluding the accounting adjustment, net income increased 40% to $16.9 million in 2007 ($0.91 per diluted share) from $12.1 million in 2006 ($0.66 per diluted share). This increase in net income was mainly due to sales to new customers, new products, and increased sales to existing customers, especially sales of automobile specialty micro-motors and Tower Type Oil Pump products.
Additionally, the non-cash amortization expense related to the debt discount on the $50 million notes issued on August 30, 2006 amounted to approximately $4.5 million in 2007 compared to about $1.5 million in 2006. This non-operating charge reduced annual net earnings by $0.24 per diluted share in 2007 compared to only $0.08 per diluted share in 2006. As of December 31, 2007, the unamortized debt discount totaled approximately $16.9 million.
Diluted earnings per share were $0.91 for 2007, compared to $1.01 for 2006. Excluding the non-cash charge related to the amortization expense of the debt discount and the effect of the accounting adjustment on the fair value of the warrants, diluted earnings per share would have increased 55% to $1.15 for 2007 compared to $0.74 for 2006.
The Company's total diluted share count at the end of 2007 was 18,634,739 compared to 18,306,569 at the end of 2006. The increase was mainly driven by an increase in options and warrants exercised in 2007.
Financial Results for the Quarter Ended December 31, 2007
For the quarter ended December 31, 2007, total revenue increased 61% to $19.3 million compared to $12.0 million reported for 4Q2006. This growth was largely attributable to the automobile specialty micro-motors business that the Company acquired in July 2007. Sales of the new Tower Type Oil Pump also contributed to revenue growth.
Gross profit increased 61% to $9.3 million in 4Q2007 compared to $5.8 million in the same period of 2006. Gross profit margin remained stable at 48.2% in both periods.
Operating income totaled $6.0 million in 4Q2007, representing a 36% growth from $4.4 million in 4Q2006. Operating margin for the quarter ended December 31, 2007 declined to 31.0% from 36.7% in 4Q2006. The decline was primarily attributed to higher SG&A for 4Q2007 compared to 4Q2006.
Looking ahead, Mr. Yang commented, ''As we move into 2008, we expect continued sales growth from our automobile specialty micro-motors business, our core linear motors business including Tower Type Oil Pumps, and from others including armatures, controllers, and other specialty motors. In 2008, we expect to increase the production of automobile specialty micro-motors and begin shipping some of the new products we developed to new customers, particularly as our new manufacturing facility in Shanghai becomes operational. We also have several new products under development in the automobile segment and expect to bring them to market in 2008. While we delivered 13 Tower Type Oil Pump units in 2007, we expect a dramatic increase to more than 200 units in 2008. Finally, we are continuing the joint development of the linear motor driven train system for urban mass transportation with the Institute of Electrical Engineering of the Chinese Academy of Sciences (''IEECAS'') and expect that this product could begin to contribute to our business in 2009, assuming a successful test run at the end of 2008.''
Mr. Yang concluded, ''We believe that we have laid a solid foundation for business growth and made notable progress in the past several years as we strengthened R&D capabilities, broadened product offerings, improved manufacturing processes and efficiencies, and strengthened our management team. We expect that we will fully capitalize on all these investments over the next few years to maximize shareholder value.''
About Harbin Electric, Inc.
Harbin Electric, headquartered in Harbin, China, is a market leader in linear motors, motor/controller automation systems, automobile specialty micro-motors, and other special motors. It is the first and currently, to our knowledge, the only Chinese company to provide product development and integrated production tailored to customer applications in this industry. The Company takes pride in its environmental and social policies. The Company believes that it provides customers with energy efficient products and its employees with a family-friendly working environment, based on competitive compensation and humane work schedules.
A strong focus of Harbin Electric is its emphasis on technology, innovation and creativity, based on a strong research and development (R&D) capability. It recruits talent worldwide and through collaboration with top scientific institutions. Its ISO certified manufacturing facility is equipped with state-of-the-art production lines and quality control systems to ensure product quality.
China's rapidly expanding economy and government policy supporting the industry have provided a strong growth platform for Harbin Electric. To learn more about Harbin Electric, visit http://www.harbinelectric.com/ .
(Financial tables to follow)
HARBIN ELECTRIC, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006
A S S E T S
2007 2006
CURRENT ASSETS:
Cash $45,533,893 $67,313,919
Accounts receivable, net of
allowance for doubtful accounts of
$116,238 and $44,552 as of December 31,
2007 and 2006, respectively 23,216,543 8,827,799
Inventories 2,570,929 583,287
Other receivables 326,639 148,243
Other receivables - related parties -- 44,998
Advances on inventory purchases 1,772,204 834,590
Total current assets 73,420,208 77,752,836
PLANT AND EQUIPMENT, net 23,858,035 9,219,534
OTHER ASSETS:
Debt issue costs, net of
amortization 2,214,717 2,757,155
Advances on equipment purchases 24,328,386 --
Advances on intangible assets 1,384,710 1,487,120
Intangible assets, net of
accumulated amortization 5,899,989 640,337
Other assets 397,263 1,101,839
Cross currency hedge receivable 145,945 --
Deposit in derivative hedge 1,000,000 --
Total other assets 35,371,010 5,986,451
Total assets $132,649,253 $92,958,821
L I A B I L I T I E S A N D
S H A R E H O L D E R S' E Q U I T Y
CURRENT LIABILITIES:
Accounts payable $263,314 $258,911
Other payables 1,380,119 406,520
Other payables - related party 45,491 --
Accrued liabilities 83,099 107,263
Customer deposits 333,253 319,261
Taxes payable 839,299 556,943
Interest payable 1,122,000 1,122,000
Total current liabilities 4,066,575 2,770,898
NOTES PAYABLE, net of debt discount
$16,878,269 and $21,410,401 as of
December 31, 2007 and 2006, respectively 33,121,731 28,589,599
FAIR VALUE OF DERIVATIVE INSTRUMENT 10,844,372 --
WARRANT LIABILITIES -- 16,568,080
Total liabilities 48,032,678 47,928,577
COMMITMENTS AND CONTINGENCIES -- --
SHAREHOLDERS' EQUITY:
Common Stock, $0.00001 par value,
100,000,000 shares authorized,
18,143,156 and 16,600,451 shares
issued and outstanding as of
December 31, 2007 and 2006,
respectively 181 166
Paid-in-capital 44,970,589 12,252,064
Retained earnings 32,281,312 26,222,408
Statutory reserves 9,014,462 4,523,715
Accumulated other comprehensive
(loss) income (1,649,969) 2,031,891
Total shareholders' equity 84,616,575 45,030,244
Total liabilities and
shareholders' equity $132,649,253 $92,958,821
HARBIN ELECTRIC, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006
2007 2006
REVENUES $65,402,864 $40,415,777
COST OF SALES 32,967,887 20,754,282
GROSS PROFIT 32,434,977 19,661,495
RESEARCH AND DEVELOPMENT EXPENSE 1,064,074 1,491,316
SELLING, GENERAL AND ADMINISTRATIVE
EXPENSES 7,659,611 4,175,944
INCOME FROM OPERATIONS 23,711,292 13,994,235
OTHER EXPENSE (INCOME), NET
Other income, net -- (5,196)
Non-operating expense, net 188,654 40,774
Realized gain on sale of
marketable securities -- (577,071)
Interest expense, net 6,619,954 2,450,248
Change in fair value of warrant -- (6,353,032)
Total other expense (income), net 6,808,608 (4,444,277)
INCOME BEFORE PROVISION FOR INCOME
TAXES 16,902,684 18,438,512
PROVISION FOR INCOME TAXES -- --
NET INCOME 16,902,684 18,438,512
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation
adjustment 7,162,512 1,034,425
Change in fair value of derivative
instrument (10,844,372) --
COMPREHENSIVE INCOME $13,220,824 $19,472,937
EARNINGS PER SHARE
Basic
Weighted average number of
shares 17,082,300 16,600,451
Earning per share $0.99 $1.11
Diluted
Weighted average number of
shares 18,634,739 18,306,569
Earning per share $0.91 $1.01
HARBIN ELECTRIC, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006
2007 2006
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $16,902,684 $18,438,512
Adjustments to reconcile net income
to cash provided by (used in) operating
activities:
Depreciation 567,069 373,539
Amortization of intangible assets 510,023 93,889
Amortization of debt issuance
costs 542,438 197,470
Amortization of debt discount 4,532,132 1,510,711
Loss on disposal of equipment -- (1,945)
Bad debt expense 65,876 14,020
Gain on derivative instrument (700,496) --
Realized gain on sale of
marketable securities -- (577,071)
Change in fair value of warrants -- (6,353,032)
Stock based compensation 1,584,234 918,088
Change in operating assets and
liabilities
Accounts receivable (12,197,768) (2,961,574)
Inventories (1,615,757) 788,713
Other receivables (154,244) 72,579
Other receivables - related
parties 46,216 86,538
Advances on inventory purchases (844,177) 1,959,588
Other assets (24,781) (130,972)
Accounts payable (1,302,212) 148,908
Other payables 947,581 401,533
Other payables - Related Party 43,689 --
Accrued liabilities (25,497) 49,118
Customer deposits (7,848) 309,462
Taxes payable 234,702 445,604
Other liabilities -- 7,590
Net cash provided by operating
activities 9,103,864 15,791,268
CASH FLOWS FROM INVESTING
ACTIVITIES:
Advances on intangible assets -- (2,549,389)
Advances on equipment purchases (23,315,185) --
Additions to intangible assets (1,117,024) (1,444,350)
Additions to plant and equipment (12,138,676) (1,579,273)
Proceed from cross currency hedge 554,551 --
Proceeds from sale of marketable
securities -- 1,093,165
Net cash used in investing
activities (36,016,334) (4,479,847)
CASH FLOWS FINANCING ACTIVITIES:
Proceeds received from conversion
of warrants 1,713,193 --
Deposit to secure derivative
instrument (1,000,000) --
Capital contribution -- 36,300
Net proceeds from debt issued -- 47,045,375
Interest payable -- 1,122,000
Net cash provided by financing
activities 713,193 48,203,675
EFFECTS OF EXCHANGE RATE CHANGE IN
CASH 4,419,251 2,059,804
(DECREASE) INCREASE IN CASH (21,780,026) 61,574,900
CASH, beginning of year 67,313,919 5,739,019
CASH, end of year $45,533,893 $67,313,919
For investor and media inquiries, please contact:
Harbin Electric, Inc.
In China
Tel: +86-451-8611-6757
Email: MainlandIR@Tech-full.com
In the U.S.
Christy Shue
Executive VP, Finance & Investor Relations
Tel: +1-631-312-8612
Email: cshue@HarbinElectric.com
Harbin Electric, Inc.
CONTACT: Harbin Electric, Inc, in China, +86-451-8611-6757, or MainlandIR@Tech-full.com, or in the U.S., Christy Shue, Executive VP, Finance & Investor Relations, +1-631-312-8612, or cshue@HarbinElectric.com
Web Site: http://www.harbinelectric.com/
Cognizant ouvre un nouveau centre de prestation de services en Argentine afin d'appuyer la création de valeur pour les clients
TEANECK, New Jersey et BUENOS AIRES, Argentine, March 11 /PRNewswire/ --
- Le chef du service informatique de Kimberly-Clark inaugure
officiellement les nouvelles installations
Cognizant (Nasdaq : CTSH), un important fournisseur de services de
consultation, de logiciel, d'infrastructure informatique et de processus
d'affaires, a annoncé aujourd'hui l'inauguration officielle de son 35e centre
mondial de prestation de services à Buenos Aires, en Argentine. Le nouveau
centre subviendra aux besoins de la clientèle nord-américaine de Cognizant
dans un fuseau horaire semblable, exploitera les capacités
techno-fonctionnelles et linguistiques disponibles dans la région afin de
desservir ses clients internationaux, et fournira à Cognizant la base de
connaissances locales nécessaires pour permettre à Cognizant de servir les
intérêts de ses clients en Amérique du Sud.
Parmi les autres invités d'honneur présents à l'inauguration figurent M.
Mauricio Macri, chef de gouvernement de la ville de Buenos Aires, M. Earl
Anthony Wayne, ambassadeur des Etats-Unis d'Amérique, et Mme Gloria Gangte,
première secrétaire de l'ambassade indienne en Argentine.
L'association de Cognizant et de Buenos Aires a débuté en 2007 dans le
cadre d'un modèle unique de création commune de valeur pour Kimberly-Clark
Corporation (K-C), de concert avec leurs équipes locales. Compte tenu de la
rapidité avec laquelle elle augmente sa collaboration avec K-C et de
l'intérêt manifesté par d'autres clients de marque oeuvrant dans des secteurs
clés tels que les biens de consommation, le commerce de détail, les services
financiers et l'assurance pour exploiter le même fuseau horaire, Cognizant a
donc décidé de mettre en place ces nouvelles installations pouvant accueillir
jusqu'à 250 professionnels.
<< Cognizant tient ses engagements, qui consistent à fournir à
Kimberly-Clark une gamme complète de services informatiques internationaux.
La société établit des critères élevés de satisfaction de la clientèle et a
fait ses preuves dans l'exécution de programmes d'externalisation
transformationnels >>, souligne Ramon F. Baez, chef du service informatique
de Kimberly-Clark. << Nous sommes heureux d'avoir aidé Cognizant à faire sa
marque à Buenos Aires, tout en permettant à notre fonction de TI de franchir
une nouvelle étape. L'Argentine est un endroit clé pour la structure
d'approvisionnement mondiale de K-C. >>
<< Notre architecture répartie, appuyée par une saine gestion des
relations locales et des capacités d'approvisionnement internationales, sera
renforcée par notre nouveau centre de prestation de services en Argentine >>,
explique pour sa part Francisco D'Souza, président et PDG de Cognizant. <<
Nos investissements dans de nouveaux centres de prestation internationaux,
régionaux et locaux aideront notre clientèle à mobiliser en douceur les
meilleurs talents partout dans le monde de manière à offrir une valeur
distincte à leurs clients finaux. Il s'agit vraiment d'un moment idéal pour
être en Argentine, du fait que le pays continue d'accroître ses exportations
de technologies. Avec notre solide base de talents en Inde, nous sommes
heureux de faire partie des relations grandissantes entre l'Inde et
l'Argentine. >>
Le centre de prestation régional de Cognizant à Buenos Aires tirera le
maximum de la plate-forme Cognizant 2.0, lancée récemment. Celle-ci permet à
tous les centres de développement mondiaux, régionaux et locaux de Cognizant
de collaborer virtuellement et de façon continue par le biais d'une seule
plate-forme centrale utilisant les technologies Web 2.0, fournissant ainsi
aux clients une valeur transformationnelle importante en matière de délai de
lancement et de coûts.
L'Argentine est l'une des économies mondiales dont la croissance est la
plus rapide en raison de l'appui gouvernemental et de l'augmentation de la
demande pour des entreprises locales. Le pays possède un excellent niveau
d'éducation, ce qui est confirmé par un taux élevé de recrutement de diplômés
talentueux en technologie et en administration. Outre les avantages en raison
des frais ainsi que la qualité de ses infrastructures informatiques et de
télécommunication, le pays offre un vaste bassin de talents en informatique
ayant une bonne maîtrise de l'espagnol.
À propos de Cognizant
Cognizant (Nasdaq : CTSH) est l'un des principaux fournisseurs de
services informatiques, de conseils et d'externalisation des processus
d'affaires. La passion constante de Cognizant est de consacrer notre
technologie et notre savoir-faire en matière d'innovation, notre expertise
industrielle et nos ressources mondiales à l'entretien de collaborations avec
les clients de manière à renforcer leurs activités. Comptant plus de 35
centres mondiaux de prestation de services et plus de 55 000 employés au 31
décembre 2007, nous associons un modèle de prestation sur
site/extraterritorial unique insufflé par une culture différente de la
satisfaction de la clientèle. Cotée au NASDAQ-100 et au S&P 500, Cognizant
figure dans le classement Forbes Global 2000 et se positionne parmi les
meilleures sociétés informatiques selon les classements Info Tech 100, Hot
Growth et Top 50 Performers de BusinessWeek. Pour en savoir davantage,
veuillez consulter le site www.cognizant.com.
Énoncés prospectifs
Le présent communiqué peut contenir des énoncés prospectifs au sens de la
Private Securities Litigation Reform Act de 1995, dont la précision est
nécessairement assujettie à des risques, à des incertitudes et à des
hypothèses concernant des événements futurs qui pourraient s'avérer inexacts.
Les facteurs susceptibles de créer un écart notable entre les résultats réels
et les résultats prévus dans certains énoncés exprimés ou sous-entendus
comprennent la conjoncture économique générale et les facteurs qui sont
abordés dans le formulaire 10-K le plus récent et les autres documents
déposés par la société auprès de la Commission des valeurs mobilières des
Etats-Unis (SEC). Cognizant n'assume pas l'obligation d'actualiser ou de
revoir les énoncés prospectifs, que ce soit à la lumière de nouvelles
informations, d'événements futurs ou autres.
Site Internet : http://www.cognizant.com
Cognizant
Kirsten Paragona, directrice des relations avec les médias chez Cognizant, +1-201-673-8379, Kirsten.paragona@cognizant.com ; Investisseurs : Scot Hoffman, Financial Dynamics, +1-212-850-5617, scot.hoffman@fd.com, pour Cognizant
eFuture to Roll Out Distribution Management Solution for Kimberly-Clark China
BEIJING, March 11 /Xinhua-PRNewswire/ -- eFuture Information Technology Inc. (''eFuture''), a leading front-end supply chain management software and service company in China, today announced that it will roll out the deployment of its eFuture ONE DMS, a real-time visual distribution management solution (''DMS''), for Kimberly-Clark (China) Co., Ltd ("K-C").
''We are excited for the opportunity to continue optimizing Kimberly-Clark's distribution processes in China," said Adam Yan, eFuture's chairman and chief executive officer. ''The rapid growth of China's retail and Fast-Moving Consumer Goods industries is intensifying competition, and businesses must streamline their operations to stay competitive. With products that reduce costs and increase efficiency, I'm confident in our ability to deliver a broad set of solutions to fulfill the front-end supply chain needs of retailers in China.''
eFuture recently completed the implementation of the first stage of the eFuture ONE DMS in a pilot project, and the second stage will expand the solution throughout K-C's distribution network in China, including Hong Kong and Macao. eFuture will roll out the solution to K-C's China-based distribution network as well as to distributors critical to K-C's China growth plan.
K-C is a leading global health and hygiene company employing more than 55,000 people worldwide and posting sales of $18.3 billion in 2007. Headquartered in Dallas, Texas, with operations in 37 countries worldwide, K-C's global brands are sold in more than 150 countries around the globe.
About Kimberly-Clark Corporation
Kimberly-Clark Corporation and its well-known global brands are an indispensable part of life for people in more than 150 countries. Every day, 1.3 billion people --nearly a quarter of the world's population -- trust K-C's brands and the solutions they provide to enhance their health, hygiene and well being. With brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend, K-C holds the No. 1 or No. 2 market share position in more than 80 countries.
Kimberly-Clark's business development in China began in 1994. To keep up with the latest Kimberly-Clark news and to learn more about the company's 136-year history of innovation, please visit http://www.kimberly-clark.com/ .
About eFuture Information Technology Inc.
eFuture is a leading provider of front-end supply chain management software and services in China. The company provides one-stop-shop software and service solutions to manufacturers, distributors, wholesalers, logistics companies and retailers in China's front-end supply chain market, especially in the retail and Fast Moving Consumer Goods (''FMCG'') industries. The company currently serves more than 900 clients, including Fortune 500 companies, over 700 retailers and over 200 distributors operating in China. eFuture is also one of IBM's premier business partners in Asia Pacific and is a strategic partner with Oracle, Microsoft, JDA, Motorola and Samsung Network China. The company has 20 branch offices across China.
For more information about eFuture, please visit http://www.e-future.com.cn/
FORWARD-LOOKING STATEMENTS
This announcement contains statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. We caution investors that any forward-looking statements presented in this report, or which management may make orally or in writing from time to time, are based on beliefs and assumptions made by, and information currently available to, management. When used, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "project," "result," "should," "will" and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. Such statements are subject to risks, uncertainties and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties and factors that are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected by the forward-looking statements. We caution you that while forward-looking statements reflect our good-faith beliefs when we make them, they are not guarantees of future performance and are affected by actual events when they occur after we make such statements. Accordingly, investors should use caution in relying on forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.
Some of the risks and uncertainties that may cause our actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, among others, the following:
-- general risks affecting the Chinese retail industry;
-- failure to effectively manage our growth and expansion or to integrate
acquisitions and developments successfully;
-- risks and uncertainties affecting software development;
-- risks associated with downturns in the Chinese national and local
economies;
-- risks associated with our dependence on key personnel whose continued
service is not guaranteed; and
-- the other risk factors identified in our most recently filed Annual
Report on Form 20-F, including those described under the caption "Risk
Factors."
The risks set forth above are not exhaustive. Other sections of this report may include additional factors that could adversely affect our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time and it is not possible for management to predict all risk factors, nor can it assess the impact of all risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward- looking statements as a prediction of actual results. Investors should also refer to our most recent Annual Report on Form 20-F for future periods and reports on Form 6-K as we file them with the SEC, and to other materials we may furnish to the public from time to time through Forms 6-K or otherwise, for a discussion of risks and uncertainties that may cause actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements. We expressly disclaim any responsibility to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events, or otherwise, and you should not rely upon these forward-looking statements after the date of this report.
eFuture Information Technology Inc.
CONTACT: eFuture Information Technology Inc., +86-10-5165-0998 x8804, or ir@e-future.com.cn; or Justin Knapp of Ogilvy Public Relations Worldwide, Beijing, +86-10-8520-6556, or justin.knapp@ogilvy.com, for eFuture
Web Site: http://www.kimberly-clark.com/ http://www.e-future.com.cn/
President Clinton to Inaugurate mtvU 'Editorial Board' Series at CGI U in New OrleansGroundbreaking Forums to Feature Top Student Journalists Pressing National Influencers on College Students' Key ConcernsSeries Kicks Off at First Clinton Global Initiative University Meeting, March 14-16 at Tulane University
NEW YORK, March 11 /PRNewswire/ -- mtvU, MTV's Emmy-winning college network, today greenlighted a new series that will break down the walls between top student journalists and the influential national figures shaping the world college students will soon inherit. Former U.S. President William Jefferson Clinton will be the first participant in the mtvU "Editorial Board" series, which will build on the time-honored publishing tradition of the editorial board meeting. The sessions will give selected writers and editors from mtvU's College Media Network, a collection of more than 550 online college publications, an unprecedented opportunity to go well beyond canned answers and sound bytes -- delving deep into the issues that matter most to today's college students.
As part of the inaugural Clinton Global Initiative University (CGI U) meeting, Bill Clinton, the 42nd President of the United States of America, will kick off the mtvU "Editorial Board" series March 16th in New Orleans, Louisiana, in conjunction with the Tulane Hullabaloo, the independent student newspaper of Tulane University. The session will feature four standout student journalists from around the country -- serving as the voice of the national college audience -- going in depth with President Clinton on the critical issues of our time. The student participants will come armed with questions submitted by journalists from across the College Media Network. Highlights from the forum will be available on mtvU.com later in the day; the full short-form episode, "mtvU Editorial Board: President Bill Clinton" will premiere on mtvU and mtvU.com March 26th at noon ET/PT.
"mtvU 'Editorial Boards' will empower college students to advance the rich tradition of the editorial board meeting, fostering an intimate, candid discussion between tomorrow's leaders and those making history today," said Stephen Friedman, GM, mtvU. "The series is part of our commitment to shining a national spotlight on top student talent -- always serving up new, career-launching opportunities -- and we're honored to have President Clinton's participation for the first of these groundbreaking forums."
The first-ever mtvU "Editorial Board," with President Clinton, will coincide with the inaugural meeting of CGI U, a new project from the Clinton Global Initiative (CGI), taking place in New Orleans from March 14th-16th. The project will challenge college students and universities to tackle global problems with practical, innovative solutions. More than 700 college students are expected to come together for the meeting, to learn about pressing global issues and make commitments to take action. The students will be joined by university presidents and administrators, leading non-profits, social entrepreneurs and youth leaders. Students who do not attend the meeting in New Orleans can watch it live on CGI U's website http://www.cgiu.org/ and participate virtually by making their own commitment.
Students hand-picked to participate in the mtvU "Editorial Board" series will have established themselves as among the smartest, most aggressive and enterprising student journalists in the country. Each editorial board meeting will be presented in conjunction with a different College Media Network member paper. Future installments of the series will be announced in the weeks and months ahead.
mtvU's College Media Network is the largest interactive network of online college newspapers in the US, including nearly 550 campus publications that serve institutions such as Brown University, the University of Illinois, the University of Southern California, the University of Texas at Austin and Duke University. In total, the network serves universities with a combined enrollment of over 5.5 million students, and reaches an average of 5 million unique users each month. Student publications in the Network have free access to College Publisher, the only online publishing system designed specifically for the needs of today's campus newspaper. This cutting edge, web-based suite of tools allows multiple users to control all facets of digital publishing, including content management, multimedia administration and online advertising.
About CGI U
The Clinton Global Initiative and CGI U are non-partisan projects of the William J. Clinton Foundation with an emphasis on results. CGI U attendees will participate in workshops and meetings focused on four main topics that are of particular importance to college students: energy & climate change, human rights and peace, global health, and poverty alleviation. Attendees make specific commitments to address one of the topics covered and report to President Clinton on the progress made throughout the course of the coming year. On the Web at http://www.cgiu.org/ and http://www.clintonfoundation.org/.
About mtvU
Broadcast to more than 750 college campuses and via top cable distributors in 700 college communities nationwide, mtvU reaches upwards of 9 million U.S. college students -- making it the largest, most comprehensive television network just for college students. Twenty-four hours a day, seven days a week, mtvU can be seen in the dining areas, fitness centers, student lounges and dorm rooms of campuses throughout the U.S., as well as on cable systems from Charter Communications, Verizon FiOS TV, Suddenlink Communications, AT&T u-Verse and nearly 70 others. mtvU is dedicated to every aspect of college life, reaching students everywhere they are: on-air, online and on campus. mtvU programs music videos from emerging artists that can't be seen anywhere else, news, student life features and initiatives that give college students the tools to advance positive social change. mtvU is always on campus, with more than 500 events per year, including exclusive concerts, giveaways, shooting mtvU series and more. For more information about mtvU, and a complete programming schedule, visit http://www.mtvu.com/.
mtvU also owns and operates the College Media Network, the largest interactive network of online college newspapers in the US, and RateMyProfessors.com, the Internet's largest listing of collegiate professor ratings. The College Media Network comprises 550 campus publications that serve institutions including Brown University, the University of Illinois, the University of Southern California, the University of Texas at Austin and Duke University, with a combined enrollment of over 5.5 million students, reaching an average of 5 million unique users each month. RateMyProfessors.com reaches approximately 2.9 million college students each month, via the site's more than 6.6 million student-generated ratings of over 1,000,000 college professors.
MTV Networks, a unit of Viacom , is one of the world's leading creators of programming and content across all media platforms. MTV Networks, with more than 150 channels worldwide, owns and operates the following television programming services - MTV: MUSIC TELEVISION, MTV2, VH1, mtvU, NICKELODEON, NICK at NITE, COMEDY CENTRAL, TV LAND, SPIKE TV, CMT, NOGGIN/THE N, VH1 CLASSIC, MTVN INTERNATIONAL and THE DIGITAL SUITE FROM MTV NETWORKS, a package of 13 digital services, all of these networks trademarks of MTV Networks. MTV Networks connects with its audiences through its robust consumer products businesses and its more than 300 interactive properties worldwide, including online, broadband, wireless and interactive television services and also has licensing agreements, joint ventures, and syndication deals whereby all of its programming services can be seen worldwide.
MTV
CONTACT: Jason Rzepka of mtvU, +1-212-654-7198, jason.rzepka@mtvstaff.com; or David French of MTV, +1-212-846-6406, david.french@mtvstaff.com
Web site: http://www.mtvu.com/ http://www.cgiu.org/ http://www.clintonfoundation.org/ http://www.mtv.com/
USA TODAY Launches Online Consumer Advertising Campaign
MCLEAN, Va., March 11 /PRNewswire-USNewswire/ -- USA TODAY announces the launch of a new online consumer advertising campaign. The campaign will feature banner advertising within online ad networks, internet portals, social networks and on entertainment, leisure and lifestyle websites. The campaign encourages consumers to become active members of the USA TODAY online community and was developed by Arnold Worldwide.
"This campaign is an invitation to join in the conversation at USATODAY.com," said Susan Lavington, senior vice president of marketing, USA TODAY. "USA TODAY truly pioneered media-driven social network applications and we embrace and encourage the fact that our visitors can communicate directly with one another about topics they care about."
This campaign is part of an ongoing trade and consumer advertising campaign whose elements are tied together with the recently introduced tagline "We're all in this together." This tagline is a continuation of USA TODAY's original mission statement written 25 years ago: "To serve as a forum for better understanding and unity to help make the USA truly one nation." The tagline and campaign reflect USA TODAY's ability to create a common ground for all Americans and extend into the community-building elements featured on USATODAY.com including: USATODAY.com's ground-breaking network journalism application, the website's extremely popular and engaging blogs, its recently-launched widgets, and its numerous platforms and services for today's mobile consumers.
USA TODAY is the nation's top-selling newspaper. It is published via satellite at 34 locations in the USA and at four sites abroad. With a total average daily circulation of 2.3 million, USA TODAY is available worldwide. USA TODAY is published by Gannett Co., Inc. . The USA TODAY brand also includes: USATODAY.com, an award-winning news and information Web site that is updated 24 hours per day; USA TODAY Sports Weekly, a magazine for enthusiasts of college and professional football and baseball; USA TODAY Mobile, offering up-to-the minute news and information on a variety of mobile platforms and devices; and USA TODAY LIVE, the television arm of the USA TODAY brand that brings the spirit and quality of the newspaper to television.
USA TODAY
CONTACT: Heidi Zimmerman, Director/Communications, +1-703-854-5304, hzimmerman@usatoday.com, or Alexandra Nicholson, Manager/Communications, +1-703-854-5872, anicholson@usatoday.com, both of USA TODAY
Web Site: http://www.usatoday.com/
Alexander M. Cutler Nominated for Election to DuPont Board of DirectorsMasahisa Naitoh to Retire from DuPont Board
WILMINGTON, Del., March 11 /PRNewswire-FirstCall/ -- DuPont today announced that Alexander "Sandy" M. Cutler, chairman and CEO of Eaton Corporation, will be a nominee for election to its board of directors during the company's annual stockholders meeting on April 30.
DuPont also said board member Masahisa Naitoh, 70, chairman and CEO of The Institute of Energy Economics in Japan, has reached the board's mandatory retirement age after eight years of service and will not stand for election at the annual meeting.
"The contributions of Naitoh-san have been instrumental in the transformation of DuPont into a market-driven science company," said Charles O. Holliday, Jr., DuPont chairman and CEO. "We are appreciative of his commitment and service on the board. We wish Naitoh-san the very best."
"Sandy leads a diverse, global business and understands the dynamics of the marketplace. We look forward to the wealth of knowledge and insight that he will bring to the DuPont board," Holliday added. "We will benefit from his experience and perspectives as we accelerate our progress to achieve higher profitable growth."
Cutler, 57, has been chairman and CEO of Eaton Corporation, a global diversified industrial manufacturer headquartered in Cleveland, Ohio, since 2000. He previously served as its president and chief operating officer for five years. During his 33-year career at Eaton, Cutler has led a broad range of businesses and strategic functions, including its global Operations and earlier its Controls Group.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
DuPont
CONTACT: Anthony Farina of DuPont, +1-302-774-4005, anthony.r.farina@usa.dupont.com
Web site: http://www.dupont.com/
Social Media: The Next Frontier in Employee CommunicationWatson Wyatt Experts Say Social Media Can Benefit Employers; Guidelines for Use, Change Management the Key
WASHINGTON, March 11 /PRNewswire-FirstCall/ -- Social media has begun to improve companies' ability to enhance employee communication, say experts at Watson Wyatt Worldwide, a leading global consulting firm.
"When properly rolled out, social media and Enterprise 2.0 tools can help companies meet their No. 1 internal communication goal -- engaging employees," said Michael Rudnick, global intranet and portal leader at Watson Wyatt. "Instead of simply mass e-mailing information or posting to an intranet in hopes employees will see it, social media tools help employees actively participate in creating and sharing information. This shift to employee- generated content has resulted in employees' becoming more engaged online."
However, at the moment, many companies are focused on the risks of social media. Executives often express concern about giving employees the ability to create content, and many information technology departments are blocking employee access to the most popular external social media tools.
Rudnick says these concerns are reminiscent of the productivity fears raised, and subsequently disproved, when the Internet was introduced into the workplace in the mid-1990s. The way for employers to address these concerns is to do just as they did 10 years ago -- setting clear guidelines for acceptable use while adopting social media for a productive, internal purpose.
"Companies need a plan to introduce these new technologies into the workforce. Simply deploying the technology is not enough -- and can even be counterproductive," Rudnick said. "However, employers that avoid social media altogether are missing an important opportunity and running the risk of alienating Generation X-ers and Millennials. Embracing the technology with proper planning, guidelines and change management for its use are effective approaches to ensuring success."
A good example of how employers can adopt social media internally is to enhance their static intranet with more dynamic Web 2.0 technology. On most intranets, news is posted primarily by a limited number of communicators. A social media-driven intranet allows most, if not all, employees to create information and participate in a companywide dialogue. Content can be contributed in a variety of ways, including blogs, blog feedback, wikis, vlogs, podcasts and other Web 2.0 tools. This more collaborative approach provides for relevant and up-to-date content on intranets without dramatically increasing the burden on a company's communications function.
However, guidelines, training and change management about appropriate use, along with strong firewalls (to keep prying eyes out), are needed to ensure that social media is used productively and sensitive information is not inappropriately or inadvertently disseminated, Rudnick said.
About Watson Wyatt Worldwide
Watson Wyatt is the trusted business partner to the world's leading organizations on people and financial issues. The firm's global services include: managing the cost and effectiveness of employee benefit programs; developing attraction, retention and reward strategies; advising pension plan sponsors and other institutions on optimal investment strategies; providing strategic and financial advice to insurance and financial services companies; and delivering related technology, outsourcing and data services. Watson Wyatt has 7,000 associates in 32 countries and is located on the Web at http://www.watsonwyatt.com/.
Watson Wyatt Worldwide
CONTACT: Ed Emerman, +1-609-275-5162, eemerman@eaglepr.com, for Watson Wyatt Worldwide
Web site: http://www.watsonwyatt.com/
Harford County, Maryland Residents to Benefit from Verizon Wireless Network ExpansionInvesting to Stay Ahead of Growing Demand for Wireless Calling, Data Access and Music
LAUREL, Md., March 11 /PRNewswire/ -- In a continuing effort to provide the best wireless service for residents and visitors in Harford County, Verizon Wireless has expanded its network with a new cell site in Darlington. The new cell site increases coverage and capacity along Route 161, Deer Creek Rd. and Poole Rd.
The network expansion is part of an aggressive multi-billion dollar network investment each year to stay ahead of the growing demand for Verizon Wireless' voice and data services. The company spent $300 million to enhance services and coverage throughout Washington, Baltimore and Virginia in 2007, bringing the network investment in the region to more than $1.8 billion since 2000.
Nationally, the company has invested nearly $44 billion since it was formed -- $5.5 billion on average every year -- to offer customers the most reliable service available, including wireless data services such as picture messaging, text messaging, and the company's exclusive V CAST service. V CAST brings video clips of TV shows, music on demand and other multimedia services to wireless phones over Verizon Wireless' high-speed EV-DO network. Verizon Wireless's high-speed third generation wireless broadband network has been enhanced with EV-DO Rev. A technology.
This enhancement allows customers who use the company's flagship business data service, BroadbandAccess, to interact with Web-based applications, download music over-the-air, access to e-mail, everyday corporate data, the Internet, and more at speeds that are eight to nine times faster than before. For example, BroadbandAccess customers with Rev. A compatible devices can now expect average download speeds of 600 kilobits per second (kbps) to 1.4 megabits per second and average upload speeds of 500-800 kbps, which means customers can download a 1 megabyte e-mail attachment -- the equivalent of a small PowerPoint(R) presentation or a large PDF file -- in about eight seconds and upload the same-sized file in less than 13 seconds.
Strong demand for Verizon Wireless services continued during the fourth quarter of 2007 as the company added 2.0 million net new customers. For the 13th consecutive quarter, Verizon Wireless also led the wireless industry in customer loyalty. The company posted a churn (customer turnover) rate of just 1.2%, below the rate reported by the other major wireless carriers.
Verizon Wireless tests its network and those of its competitors to ensure the Verizon Wireless network remains the nation's most reliable. Nationally, Verizon Wireless' real-life test men and women drive 91 specially equipped vehicles almost 1,000,000 miles annually on Interstate, U.S. and state highways, as well as major roads and surface streets in high-population areas, based upon U.S. Census counts, to determine if voice calls and data connections are successful on the first attempt and stay connected. Vehicles are equipped with computers that automatically make more than three million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 65.7 million customers. Headquartered in Basking Ridge, N.J., with 69,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
Verizon Wireless
CONTACT: Sherri Cunningham, +1-202-364-5856, or John Johnson, +1-240-568-1429, john.h.johnson@verizonwireless.com, both of Verizon Wireless
Web site: http://www.verizonwireless.com/ http://www.verizonwireless.com/multimedia
Verizon Making Broadband a Reality in New Jersey in 2008 and BeyondVerizon's Wireline and Wireless Networks Help Make New Jersey a National Leader in Broadband Infrastructure
TRENTON, N.J., March 11 /PRNewswire/ -- Verizon reaffirmed its commitment Tuesday (March 11) to providing consumers and businesses the best broadband networks available. The pledge came at the New Jersey Connected Broadband Summit here. The summit examined and showcased the state's broadband assets and highlighted new and industry-moving applications that can benefit the state's varied communities and residents.
"Over the past several years, Verizon and Verizon Wireless have aggressively rolled out new land-based and wireless networks that have changed the way New Jerseyans work and live," said Dennis Bone, president of Verizon New Jersey. "Whether it's our award-winning FiOS broadband network, our speedy High Speed Internet (DSL), our industry-leading EVDO network from Verizon Wireless, or our extensive long-haul networks from Verizon Business, we're revolutionizing the way consumers and businesses communicate."
As part of Verizon's ever-growing broadband expansion efforts in New Jersey, the company is in the midst of building and expanding its FiOS network in hundreds of communities throughout the state. As of today, FiOS broadband and video services are available to consumers in about 270 towns, with many more to come.
FiOS brings consumers and small businesses super-fast Internet speeds, a spectacular video product and crystal-clear voice services. Last year, the company announced it would spend $1.5 billion to deploy and expand its FiOS network in New Jersey. In addition, Verizon High Speed Internet service is deployed in each of the company's central offices in the state.
Verizon Wireless is simultaneously building its super-fast EVDO in the state. The wireless broadband service allows consumers to remain productive and responsive while on the go, right from their laptops, with average download speeds of 600 Kbps (kilobits per second) to 1.4 Mbps (megabits per second) and at average upload speeds of 500 to 800 Kbps.
Since 2000, Verizon Wireless has spent more than $1 billion dollars on its leading networks in New Jersey and has made EVDO available to about 96 per cent of the state's consumers.
"Reliable networks aren't built overnight," said Chris Baron, president of Verizon Wireless' Philadelphia and tri-state region. "Today's wireless customers demand so much more than voice service, and this network expansion reflects our ongoing commitment to stay ahead of the curve. We will continue to efficiently invest in network enhancements to deliver the most reliable voice, data and multimedia services available."
In addition to FiOS, High Speed Internet and EVDO, 100 percent of schools in the Verizon footprint have access to the company's Access New Jersey network.
"These tremendous network investments have helped make New Jersey a national leader in ways industries and consumers utilize the power of broadband," said Bone. "We believe this state is well-positioned to use broadband services in its efforts to remain competitive in the global economy, and Verizon is committed to helping New Jersey keep its competitive advantages."
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/espanol.
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/noticias. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Verizon
CONTACT: Rich Young, Verizon, +1-973-649-2279, richard.j.young@verizon.com, or David Samberg, Verizon Wireless, +1-845-365-7212, or mobile, +1-914-329-5429, david.samberg@verizonwireless.com
Web site: http://www.verizon.com/ http://www.verizon.com/espanol http://www.verizon.com/noticias
Company News On-Call: http://www.prnewswire.com/comp/094251.html
Micromem Technologies Inc. appoints Henry N. Dreifus to board of directors
TORONTO, March 11 /PRNewswire-FirstCall/ -- Micromem Technologies Inc. (OTC-BB:MMTIF) a Toronto-based developer of magnetic random access memory (MRAM), announced today that it has appointed Henry N. Dreifus to serve on the company's board of directors.
Mr. Dreifus is the founder and managing director of Dreifus Associates Limited, Inc. (DAL), a technology, systems development and solutions integration organization. Among his accomplishments Mr. Dreifus holds a key patent on smart card technology and portable electronic transaction technology. Mr. Dreifus has more than 25 years of experience in the high technology field including extensive experience on strategic engagements ranging from magnetic, optical and intelligent (smart cards) for financial, security, consumer marketing and information applications. He is a recognized world expert in the card technology industry, providing vision for the application of enabling technologies to solve business problems, and advises industry, governments and the U.S. Congress on computer and information technology matters.
In addition to his new appointment to the Micromem board, Mr. Dreifus also currently serves on the boards of Viewzi, Inc. a visual search engine company, TelaDoc Medical Services, Inc., a national medical cross-coverage service, and the Defense Business Board of the United States Department of Defense.
"We are pleased to appoint Mr. Dreifus to this position," said Joseph Fuda, CEO of Micromem. "His background in delivering advanced technology solutions and in the semiconductor industry will bring to Micromem a dimension and skill set that will help the company as it prepares to commercialize its MRAM and magnetic sensor technologies."
Listing: NASD OTC-Bulletin Board - Symbol: "MMTIF"
Shares issued: 75,263,277
SEC File No: 0-26005
About Micromem Technologies Inc.
--------------------------------
Micromem Technologies, Inc. (http://www.micromeminc.com/) is focused on the development of magnetic random access memory (MRAM) technology.
Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties, which may cause Micromem's actual results in future periods to differ materially from those expressed or suggested herein. These uncertainties and risks include, without limitation, the inherent uncertainty of research, product development and commercialization, the impact of competitive products and patents, our ability to fund our current and future business strategies and respond to the effect of economic and business conditions generally as well as other risks and uncertainties detailed from time to time in Micromem's filings with the Securities & Exchange Commission. There can be no guarantee that Micromem will be able to enter into any commercial arrangements on terms that are favorable to it, or at all. For more information, please refer to Micromem's Annual Report on Form 20-F and its Form 6-Ks as filed with the U.S. Securities and Exchange Commission. Micromem is under no obligation (and expressly disclaims any obligation) to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Micromem Technologies Inc.
CONTACT: Jason Baun, Chief Information Officer, 1-877-388-8930
Calvert County, Maryland Residents to Benefit From Verizon Wireless Network ExpansionInvesting to Stay Ahead of Growing Demand for Wireless Calling, Data Access and Music
LAUREL, Md., March 11 /PRNewswire/ -- In a continuing effort to provide the best wireless service for residents and visitors in Calvert County, Verizon Wireless has expanded its network with a new cell site in Lusby. The new cell site increases coverage and capacity along Route 2, Nursery Rd., Santa Cruz Dr., Catalina Dr., Turner Rd. and Mill Bridge Rd.
The network expansion is part of an aggressive multi-billion dollar network investment each year to stay ahead of the growing demand for Verizon Wireless' voice and data services. The company spent $300 million to enhance services and coverage throughout Washington, Baltimore and Virginia in 2007, bringing the network investment in the region to more than $1.8 billion since 2000.
Nationally, the company has invested nearly $44 billion since it was formed -- $5.5 billion on average every year -- to offer customers the most reliable service available, including wireless data services such as picture messaging, text messaging, and the company's exclusive V CAST service. V CAST brings video clips of TV shows, music on demand and other multimedia services to wireless phones over Verizon Wireless' high-speed EV-DO network. Verizon Wireless's high-speed third generation wireless broadband network has been enhanced with EV-DO Rev. A technology.
This enhancement allows customers who use the company's flagship business data service, BroadbandAccess, to interact with Web-based applications, download music over-the-air, access to e-mail, everyday corporate data, the Internet, and more at speeds that are eight to nine times faster than before. For example, BroadbandAccess customers with Rev. A compatible devices can now expect average download speeds of 600 kilobits per second (kbps) to 1.4 megabits per second and average upload speeds of 500-800 kbps, which means customers can download a 1 megabyte e-mail attachment -- the equivalent of a small PowerPoint(R) presentation or a large PDF file -- in about eight seconds and upload the same-sized file in less than 13 seconds.
Strong demand for Verizon Wireless services continued during the fourth quarter of 2007 as the company added 2.0 million net new customers. For the 13th consecutive quarter, Verizon Wireless also led the wireless industry in customer loyalty. The company posted a churn (customer turnover) rate of just 1.2%, below the rate reported by the other major wireless carriers.
Verizon Wireless tests its network and those of its competitors to ensure the Verizon Wireless network remains the nation's most reliable. Nationally, Verizon Wireless' real-life test men and women drive 91 specially equipped vehicles almost 1,000,000 miles annually on Interstate, U.S. and state highways, as well as major roads and surface streets in high-population areas, based upon U.S. Census counts, to determine if voice calls and data connections are successful on the first attempt and stay connected. Vehicles are equipped with computers that automatically make more than three million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 65.7 million customers. Headquartered in Basking Ridge, N.J., with 69,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/. To preview and request broadcast- quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
Verizon Wireless
CONTACT: Sherri Cunningham, +1-202-364-5856, or John Johnson, +1-240-568-1429, john.h.johnson@verizonwireless.com, both of Verizon Wireless
Web site: http://www.verizonwireless.com/
AT&T Announces OPT-E-WAN, a Virtual Private LAN Service With National and Global Reach
SAN ANTONIO, Texas, March 11 /PRNewswire/ --
- Company Also Expands Midband Ethernet Capability by Introducing Three
New Connection Speeds Below 10 Mbps
AT&T Inc. (NYSE: T) today announced the introduction of expanded
capabilities of AT&T's Ethernet portfolio with the rollout of a global
virtual private local area network service (VPLS) and expanded midband
Ethernet connection speeds - including speeds below 10 Mbps -- that enable
businesses to use Ethernet services over copper wires.
AT&T's VPLS service called OPT-E-WAN(SM), will enable businesses to link
multiple locations - whether across town or around the world - with all the
ease and efficiency of a point-to-point Ethernet connection. The service is
expected to be available beginning this summer. Throughout 2008, AT&T plans
to make these services available in the U.S. and in 14 overseas locations -
Frankfurt, London, Brussels, Paris, Amsterdam, Stockholm, Dublin/Cork, Milan,
Madrid and Zurich in Europe; and Hong Kong, Sydney, Singapore, Tokyo in Asia
Pacific.
Because OPT-E-WAN uses the same simple and highly scalable Ethernet
interfaces, businesses will have a great deal of flexibility to mix and match
bandwidth and security among locations. This will allow network managers to
assign network resources across the virtual LANs with a level of
sophistication not possible before.
Demand for Ethernet services worldwide continues to expand, reaching a
global market size of nearly US$12 billion in 2007, according to the research
firm, Ovum(1). That growth is being driven by the need that businesses of all
sizes have for affordable and easy-to-manage bandwidth to support
next-generation enterprise applications including disaster recovery, storage
and converged voice and video. Ovum also notes that Ethernet service over
copper wires is the fastest-growing segment of the Ethernet market, with
growth expected to continue.
"OPT-E-WAN will provide users with a new level of choices for
establishing virtual LAN or WAN connections, unlike other services - such as
traditional Frame Relay - that typically limit users to point-to-point
connections," said Sanford Brown, vice president, AT&T Connectivity and Metro
Network Services. "Because it uses Ethernet interfaces, OPT-E-WAN can be
configured easily in a variety of ways to meet customer needs whether they
require point-to-point, multipoint or multipoint-to-multipoint connections.
"And when combined with the power and global reach of AT&T's
Multiprotocol Label Switching (MPLS) core, customers will get the look and
feel of a metro Ethernet network that can handle converged voice, data and
video applications globally, along with the ability to scale it seamlessly,"
Brown said.
New OPT-E-MAN Connection Speeds
At the same time, AT&T is adding new connection speeds of 2 Mbps, 4 Mbps,
and 8 Mbps to its OPT-E-MAN(R) switched metro Ethernet service that uses
AT&T's MPLS network backbone to transport voice, data and video applications
to multiple locations. The new speeds will be available in AT&T's 13-state
legacy footprint, and will be supported by AT&T's industry-leading service
level agreements offered with OPT-E-MAN service. AT&T already offers 2 Mbps,
4 Mbps, and 8 Mbps Metro Ethernet(R) speeds in the nine-state Southeast
footprint.
The lower speeds will help businesses connect to Ethernet services over
fiber facilities or over copper facilities, eliminating the need for
businesses to invest in expensive fiber build outs when copper facilities are
readily available. For example, businesses with large data centers located in
a metro area may need to connect multiple smaller offices, or branch offices,
to their centrally located centers. These smaller locations may require less
bandwidth and may reside in suburban or rural areas where copper facilities
are more accessible.
Pricing for the new connection speeds is based on a combination of the
rate, level of support and grade of service, and contract terms range from
one to five years.
For more information on AT&T's portfolio of Ethernet services, go to
http://www.business.att.com/access_and_local .
(1) Ovum RHK, "Forecast: Enterprise Ethernet Services, Global," Oct. 15,
2007
Find More Information Online:
Web Site Links:
AT&T Web Site
(http://www.att.com)
Small Business Services
(http://www.att.com/gen/general?pid=7464)
Onward Small Biz
(http://smallbiz.att.com/)
AT&T Business Customer News
(http://www.att.com/gen/general?pid=5479)
OPT-E-MAN for Wholesale
(https://primeaccess.att.com/shell.cfm?section=89)
Related Media Kits:
AT&T BusinessDirect: Manage Your Network from Anyplace, Anytime
(http://www.att.com/gen/press-room?pid=9389)
AT&T's Internet Protocol Virtual Private Network
(http://www.att.com/gen/press-room?pid=9659)
Related Fact Sheet:
The Wireless Advantage: Business Scenarios for Mobile Solutions
(http://www.att.com/Common/merger/files/pdf/Wirelesscasestudies.pdf)
Related News Releases:
New AT&T Business in a Box Simplifies Communications for Smaller
Businesses and Satellite Offices
(http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25231)
Technorati Tags:
AT&T
(http://technorati.com/tag/AT%26T),
VPN
(http://www.technorati.com/tag/vpn),
Managed Network Services
(http://www.technorati.com/tag/Managed+Network+Services),
Networking Solutions
(http://www.technorati.com/tag/networking+solutions),
Small Business
(http://www.technorati.com/tag/Small+Business),
Web 2.0
(http://www.technorati.com/tag/Web+2.0).
About AT&T
AT&T Inc. (NYSE:T) is a premier communications holding company. Its
subsidiaries and affiliates, AT&T operating companies, are the providers of
AT&T services in the United States and around the world. Among their
offerings are the world's most advanced IP-based business communications
services and the nation's leading wireless, high speed Internet access and
voice services. In domestic markets, AT&T is known for the directory
publishing and advertising sales leadership of its Yellow Pages and
YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators
in such fields as communications equipment. As part of its three-screen
integration strategy, AT&T is expanding its TV entertainment offerings.
Additional information about AT&T Inc. and the products and services provided
by AT&T subsidiaries and affiliates is available at http://www.att.com.
(c) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T
logo and all other marks contained herein are trademarks of AT&T Intellectual
Property and/or AT&T affiliated companies. For more information, please
review this announcement in the AT&T newsroom at http://www.att.com/newsroom.
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
For more information, contact: Michael Lordi for AT&T, Office: +1-908-234-6071, Mobile: +1-908-329-4854, E-mail: mlordi@attnews.us; Janet Wyles, AT&T, Office: +1-908-234-6067, Mobile: +1-732-331-6754, E-mail: wyles@att.com.
Currituck County, North Carolina Residents to Benefit from Verizon Wireless Network ExpansionInvesting to Stay Ahead of Growing Demand for Wireless Calling, Data Access and Music
LAUREL, Md., March 11 /PRNewswire/ -- In a continuing effort to provide the best wireless service for residents and visitors in Currituck County, Verizon Wireless has expanded its network with a new cell site in Jarvisburg. The new cell site increases coverage and capacity along Fisher Landing Rd. and surrounding areas.
The network expansion is part of an aggressive multi-billion dollar network investment each year to stay ahead of the growing demand for Verizon Wireless' voice and data services. The company spent 300 million to enhance services and coverage throughout Washington, Baltimore and Virginia in 2007, bringing the network investment in the region to more than $1.8 billion since 2000.
Nationally, the company has invested nearly $44 billion since it was formed -- $5.5 billion on average every year -- to offer customers the most reliable service available, including wireless data services such as picture messaging, text messaging, and the company's exclusive V CAST service. V CAST brings video clips of TV shows, music on demand and other multimedia services to wireless phones over Verizon Wireless' high-speed EV-DO network. Verizon Wireless's high-speed third generation wireless broadband network has been enhanced with EV-DO Rev. A technology.
This enhancement allows customers who use the company's flagship business data service, BroadbandAccess, to interact with Web-based applications, download music over-the-air, access to e-mail, everyday corporate data, the Internet, and more at speeds that are eight to nine times faster than before. For example, BroadbandAccess customers with Rev. A compatible devices can now expect average download speeds of 600 kilobits per second (kbps) to 1.4 megabits per second and average upload speeds of 500-800 kbps, which means customers can download a 1 megabyte e-mail attachment -- the equivalent of a small PowerPoint(R) presentation or a large PDF file -- in about eight seconds and upload the same-sized file in less than 13 seconds.
Strong demand for Verizon Wireless services continued during the fourth quarter of 2007 as the company added 2.0 million net new customers. For the 13th consecutive quarter, Verizon Wireless also led the wireless industry in customer loyalty. The company posted a churn (customer turnover) rate of just 1.2%, below the rate reported by the other major wireless carriers.
Verizon Wireless tests its network and those of its competitors to ensure the Verizon Wireless network remains the nation's most reliable. Nationally, Verizon Wireless' real-life test men and women drive 91 specially equipped vehicles almost 1,000,000 miles annually on Interstate, U.S. and state highways, as well as major roads and surface streets in high-population areas, based upon U.S. Census counts, to determine if voice calls and data connections are successful on the first attempt and stay connected. Vehicles are equipped with computers that automatically make more than three million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 65.7 million customers. Headquartered in Basking Ridge, N.J., with 69,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/. To preview and request broadcast- quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia .
Verizon Wireless
CONTACT: Sherri Cunningham, +1-202-364-5856, for Verizon Wireless; or John Johnson, +1-240-568-1429, john.h.johnson@verizonwireless.com, of Verizon Wireles
Web site: http://www.verizonwireless.com/ http://www.verizonwireless.com/multimedia
Northampton County, Virginia Residents to Benefit from Verizon Wireless Network ExpansionInvesting to Stay Ahead of Growing Demand for Wireless Calling, Data Access and Music
LAUREL, Md., March 11 /PRNewswire/ -- In a continuing effort to provide the best wireless service for residents and visitors in Northampton County, Verizon Wireless has expanded its network with a new cell site in Cape Charles. The new cell site increases coverage and capacity in Bay Creek and surrounding areas.
The network expansion is part of an aggressive multi-billion dollar network investment each year to stay ahead of the growing demand for Verizon Wireless' voice and data services. The company spent $300 million to enhance services and coverage throughout Washington, Baltimore and Virginia in 2007, bringing the network investment in the region to more than $1.8 billion since 2000.
Nationally, the company has invested nearly $44 billion since it was formed -- $5.5 billion on average every year -- to offer customers the most reliable service available, including wireless data services such as picture messaging, text messaging, and the company's exclusive V CAST service. V CAST brings video clips of TV shows, music on demand and other multimedia services to wireless phones over Verizon Wireless' high-speed EV-DO network. Verizon Wireless's high-speed third generation wireless broadband network has been enhanced with EV-DO Rev. A technology.
This enhancement allows customers who use the company's flagship business data service, BroadbandAccess, to interact with Web-based applications, download music over-the-air, access to e-mail, everyday corporate data, the Internet, and more at speeds that are eight to nine times faster than before. For example, BroadbandAccess customers with Rev. A compatible devices can now expect average download speeds of 600 kilobits per second (kbps) to 1.4 megabits per second and average upload speeds of 500-800 kbps, which means customers can download a 1 megabyte e-mail attachment -- the equivalent of a small PowerPoint(R) presentation or a large PDF file -- in about eight seconds and upload the same sized file in less than 13 seconds.
Strong demand for Verizon Wireless services continued during the fourth quarter of 2007 as the company added 2.0 million net new customers. For the 13th consecutive quarter, Verizon Wireless also led the wireless industry in customer loyalty. The company posted a churn (customer turnover) rate of just 1.2%, below the rate reported by the other major wireless carriers.
Verizon Wireless tests its network and those of its competitors to ensure the Verizon Wireless network remains the nation's most reliable. Nationally, Verizon Wireless' real-life test men and women drive 91 specially equipped vehicles almost 1,000,000 miles annually on Interstate, U.S. and state highways, as well as major roads and surface streets in high-population areas, based upon U.S. Census counts, to determine if voice calls and data connections are successful on the first attempt and stay connected. Vehicles are equipped with computers that automatically make more than three million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 65.7 million customers. Headquartered in Basking Ridge, N.J., with 69,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
Verizon Wireless
CONTACT: Sherri Cunningham, +1-202-364-5856, or John Johnson, +1-240-568-1429, both of Verizon Wireless
Web site: http://www.verizonwireless.com/ http://www.verizonwireless.com/multimedia
Charles County, Maryland Residents to Benefit from Verizon Wireless Network ExpansionInvesting to Stay Ahead of Growing Demand for Wireless Calling, Data Access and Music
LAUREL, Md., March 11 /PRNewswire/ -- In a continuing effort to provide the best wireless service for residents and visitors in Charles County, Verizon Wireless has expanded its network with a new cell site in Faulkner. The new cell site increases coverage and capacity along Route 301, Route 234 and Pope's Creek Rd.
The network expansion is part of an aggressive multi-billion dollar network investment each year to stay ahead of the growing demand for Verizon Wireless' voice and data services. The company spent $300 million to enhance services and coverage throughout Washington, Baltimore and Virginia in 2007, bringing the network investment in the region to more than $1.8 billion since 2000.
Nationally, the company has invested nearly $44 billion since it was formed -- $5.5 billion on average every year -- to offer customers the most reliable service available, including wireless data services such as picture messaging, text messaging, and the company's exclusive V CAST service. V CAST brings video clips of TV shows, music on demand and other multimedia services to wireless phones over Verizon Wireless' high-speed EV-DO network. Verizon Wireless's high-speed third generation wireless broadband network has been enhanced with EV-DO Rev. A technology.
This enhancement allows customers who use the company's flagship business data service, BroadbandAccess, to interact with Web-based applications, download music over-the-air, access to e-mail, everyday corporate data, the Internet, and more at speeds that are eight to nine times faster than before. For example, BroadbandAccess customers with Rev. A compatible devices can now expect average download speeds of 600 kilobits per second (kbps) to 1.4 megabits per second and average upload speeds of 500-800 kbps, which means customers can download a 1 megabyte e-mail attachment -- the equivalent of a small PowerPoint(R) presentation or a large PDF file -- in about eight seconds and upload the same-sized file in less than 13 seconds.
Strong demand for Verizon Wireless services continued during the fourth quarter of 2007 as the company added 2.0 million net new customers. For the 13th consecutive quarter, Verizon Wireless also led the wireless industry in customer loyalty. The company posted a churn (customer turnover) rate of just 1.2%, below the rate reported by the other major wireless carriers.
Verizon Wireless tests its network and those of its competitors to ensure the Verizon Wireless network remains the nation's most reliable. Nationally, Verizon Wireless' real-life test men and women drive 91 specially equipped vehicles almost 1,000,000 miles annually on Interstate, U.S. and state highways, as well as major roads and surface streets in high-population areas, based upon U.S. Census counts, to determine if voice calls and data connections are successful on the first attempt and stay connected. Vehicles are equipped with computers that automatically make more than three million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 65.7 million customers. Headquartered in Basking Ridge, N.J., with 69,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/ . To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia .
Verizon Wireless
CONTACT: Sherri Cunningham for Verizon Wireless, +1-202-364-5856; or John Johnson of Verizon Wireless, +1-240-568-1429, john.h.johnson@verizonwireless.com
Web site: http://www.verizonwireless.com/ http://www.verizonwireless.com/multimedia
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