Companies news of 2008-03-11 (page 5)
IXI Mobile, Inc. to Host Conference Call Announcing Fourth Quarter and Year End 2007...
Verizon Business Expands Leading Global Network and Moves Deeper Into Emerging Market...
Mothers Work Elects Arnaud Ajdler to Board of Directors
European Travel Strong in '08 as 50 Percent of Americans Trekking Across the Pond This...
eCollege Honored as Finalist in Software & Information Industry Association's 23rd Annual...
AU Optronics Announced the World's First 16:9 Full HD 24-inch TFT-LCD for Desktop Monitor
AT&T, Energy City Qatar, Qtel, and Navlink Sign Agreement to Develop Advanced Networking...
Vercadia Systems Joins as Autonomy ZANTAZ Consulting Services PartnerBrings Extensive...
Elbit Systems Reports Fourth Quarter and Full Year Results for 2007Record Revenues, Net...
Social Networking Threats Addressed at MAAWG Meeting; Industry Advances to Combat Other...
Qualcomm Acquires Xiam Technologies Limited, Leading Provider of Wireless Content...
AT&T, Energy City Qatar, Qtel, and NavLink Sign Agreement to Develop Advanced Networking...
China Life to Optimize Business Processes With SAP to Enable GrowthLargest Life Insurer in...
Qualcomm Acquires Xiam Technologies Limited, Leading Provider of Wireless Content...
Réponses aux menaces pesant sur le réseautage social lors de la réunion du MAAWG ; progrès...
Cellcom Israel Announces a Purported Class Action Filed Against the Company
Global Sources Announces Fourth Quarter and Fiscal Year 2007 Results
ILOG Enables Leading Insurer, Hiscox, to Support Business Growth and New Product...
Thomson Scientific Introduces Newport Horizon Premium and Newport Vision PremiumIndustry...
Universal Electronics Inc. Licenses Hillcrest Labs' Freespace Pointing and Motion Control...
Thomson Scientific Introduces Newport Horizon Premium and Newport Vision Premium
IXI Mobile, Inc. to Host Conference Call Announcing Fourth Quarter and Year End 2007 Earnings Results
BELMONT, California, March 11 /PRNewswire-FirstCall/ -- IXI Mobile, Inc. (OTCBB: IXMO.OB, IXMOW.OB, IXMOU.OB ) expects to issue its fourth quarter and year end 2007 earnings results on Wednesday, March 26, 2008, and has scheduled a conference call to discuss the results at 9:00 A.M. EST that morning. To participate, please dial (800)-254-5933 (U.S. and Canada) or +1-973-409-9255 (International) and provide the conference ID 38914193.
The conference call will be broadcast live as a listen-only webcast. To listen live, please go to http://www.kcsa.com/ approximately five minutes before the conference call is scheduled to begin. You will need to register, and may need to download and install the required audio software. The webcast will be archived for 30 days following the call.
About IXI Mobile
Headquartered in Belmont, CA, IXI Mobile, Inc.(OTCBB: IXMOU.OB, IXMO.OB, IXMOW.OB) offers solutions that bring innovative, data-centric mobile devices and services to the mass market. IXI Mobile's Ogo devices are designed to improve the mobile user experience and increase mobile voice and data usage. The company provides a turn-key solution to mobile operators and Internet service providers around the world to launch and support Ogo products. For more information on IXI Mobile, please visit http://www.ixi.com/.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to ITAC's and IXI's future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," " seek, " "achieve," and similar expressions, or future or conditional verbs such as "will," " would," "should," "could," "may" and similar expressions.
Please direct inquiries to:
IXI Mobile:
Ariella Shoham
Marketing Manager
Press@ixi.com
KCSA Worldwide
Lee Roth / Marybeth Csaby
+1-212-896-1209 / 1236
lroth@kcsa.com / mcsaby@kcsa.com
IXI Mobile, Inc.
CONTACT: Please direct inquiries to: IXI Mobile: Ariella Shoham, Marketing Manager, Press@ixi.com; KCSA Worldwide, Lee Roth / Marybeth Csaby, +1-212-896-1209 / 1236, lroth@kcsa.com / mcsaby@kcsa.com
Verizon Business Expands Leading Global Network and Moves Deeper Into Emerging Market Regions to Serve Customers' High Growth Data and IP NeedsNetwork Enhancements Provide Additional Reliability, Scalability, Capacity and Speed for Multinational Business and Government Customers
BASKING RIDGE, N.J., March 11 /PRNewswire/ -- Focused on meeting the growing needs of its large-business and government customers worldwide, Verizon Business will expand its global network footprint in 2008 while it continues to invest in numerous network programs and enhancements around the world.
The Verizon Business global network serves 97 percent of the Fortune 500 and many U.S. government and state agencies. The company's global enterprise revenue base grew 3.1 percent in 2007 compared with 2006. Strategic services such as IP, Ethernet and managed services have been driving revenue growth, finishing 2007 with a 25 percent increase from fourth quarter 2006.
To meet the worldwide growth in voice, data and video services, Verizon Business' 2008 network expansion programs include a significant focus on China, India, Mexico, Brazil, Australia, Singapore, Hong Kong and Canada. Additionally, global network enhancements are planned that will increase network capacity, decrease provisioning time, reduce latency (the time it takes for data sent from its entry point in the network to reach its destination), and improve reliability and efficiency.
"Our world-class network is the essential platform for global commerce and business," said Fred Briggs, Verizon Business executive vice president of operations and technology. "As the world's leading companies grow their presence in the emerging market regions, they can rely on our continued network investment to support the critical business applications they're entrusting to our care. Our customers expect us to be where they need us, when they need us, and to offer our services and solutions regardless of the region of the world."
With decades of engineering and network-design expertise building and operating one of the largest facilities-based data and IP networks in the world, Verizon Business currently provides services in more than 2,700 cities and 150 countries, and is involved in more than 65 submarine cable systems around the world. The Verizon Business global IP network has also been ranked as the most-connected Internet backbone network, based on autonomous system connections, for nine consecutive years, according to TeleGeography, a research division of PriMetrica Inc.
"We're expanding and transforming what is already a leading global IP network," said Briggs. "As we expand our network into new growth regions, we're also moving deeper into countries where we offer services today. For example, one of the fastest-growing countries in the world is China, and we have expanded our capabilities and added significant capacity building on our strong partnerships with Chinese carriers."
In India, another fast-paced growth country, the company is currently implementing a diverse five-city IP, Ethernet and Global Data Link network in Mumbai, Bangalore, Delhi, Chennai and Hyderabad. Verizon Business recently received its international and national long-distance licenses (ILD/NLD) to offer advanced communications services to India-based and multinational companies with operations in India.
Responding to customer needs in Latin America, the company is adding multi-protocol label switching (MPLS) nodes in Mexico City and Monterrey, Mexico. When completed, the network will support Private IP and Public IP services. Future phases including other services like Ethernet Virtual Private Line Services will be offered in these cities. Also in Brazil, another large market with high growth potential, Verizon Business recently completed an expansion of network capabilities by deploying Private IP, Public IP and Global Data Link nodes in Rio de Janeiro and Sao Paulo. Global Data Link is a point-to-point full circuit private line service.
Verizon Business also is implementing national long-distance network expansions in Australia, building an optical backbone serving the cities of Sydney, Melbourne, Brisbane, Adelaide, Canberra and Perth; adding VoIP capabilities in Singapore and Hong Kong; and upgrading the network in Canada with a high-speed optical backbone in Toronto.
In addition to network expansion plans, Verizon Business will use 2008 capital dollars to fund innovative network programs that will enhance the operation of the network while providing many new customer benefits. Those network programs include:
-- Private IP Deployment -- Supporting Verizon Business' fastest-growing
service already in more than 121 countries, the company will deploy
MPLS nodes for additional PIP expansion to countries in the Middle East
and Latin America. MPLS nodes also will be deployed for broader
penetration in countries like India, Vietnam, Australia, South Africa
and the U.S.
-- Converged Packet Architecture -- After an aggressive 39-city, 18-
country CPA deployment in 2007, Verizon Business will add multiple
nodes in six more countries, including India, Taiwan, South Korea,
China, Mexico and Canada, which will expand its global Ethernet
footprint. Verizon Business already offers Ethernet access to Private
IP in 40 countries and plans to reach more than 50 countries by year-
end. CPA allows customers to move seamlessly from legacy time division
multiplexing (TDM) to a packet-based technology resulting in improved
efficiency.
-- Submarine Cables -- With participation in more than 65 submarine cables
in the world, the company is making additional investments in submarine
cable capacity in Asia-Pacific, Latin America, India, the Middle East
and Africa to support the growing needs of network requirements and
deliver world-class performance. Verizon Business will activate in
the third quarter the first submarine cable system with direct 10
gigabit per second (Gbps) wavelength access from the U.S. to mainland
China. In addition to greater speed and capacity, the Trans-Pacific
Express Cable will offer enhanced reliability by adding another major
path and geographic diverse routing to the fast-growing Asia-Pacific
region. With Verizon Business' longstanding leadership position in the
submarine cable industry, the company is able to expedite use of
multiple cables around the world during service interruptions.
-- Optical Global Mesh -- As an industry leader implementing mesh
architecture on its Atlantic and Pacific submarine cables routes in
2006 and 2007 respectively, Verizon Business will expand this optical
mesh architecture into North America and North Asia. When the TPE
cable in the Pacific is completed, the Pacific global mesh network will
increase from five-way to seven-way diversity. The mesh network design
creates additional paths for use in the event of multiple undersea
breaks or network disruptions significantly enhancing reliability for
customer voice, data, video and IP traffic.
-- Ultra Long Haul -- Deployment of 2,000 additional ultra long haul (ULH)
miles on the U.S. core backbone network and 1,940 miles on the European
network will increase to more than 34,000 the ULH miles deployed on the
global network, under a multiyear project. ULH reduces the number of
network elements by 70 percent, allowing the network to operate more
efficiently while enabling wavelength services. ULH provides customers
with reduced provisioning times, improved reliability and lower
latency.
-- Deployment of ROADM (Reconfigurable Optical Add/Drop Multiplexer)
technology -- As more customers drive toward higher bandwidth
requirements, ROADM technology is being used to remotely configure
wavelengths on the network in local markets. The technology allows for
faster provisioning and trouble isolation. Verizon Business will
deploy ROADM technology in 19 U.S. markets this year.
-- 40 Gbps and 100 Gbps technology -- Looking toward higher circuit speeds
demanded by customers, Verizon Business will continue deploying 40 Gbps
on network routes in the United States. At the same time, the company
will continue its aggressive testing of 100 Gbps capabilities in
efforts to move the industry toward production quality 100 Gbps in late
2009.
"Many of these network programs will help meet an important business objective for large-business customers -- low latency," Briggs said. "Very low latency and predictable latency are becoming real needs for large-business customers today. Low latency not only is an issue for the financial industry where one or two milliseconds can determine if an electronic trade is completed, but also for industries consolidating data centers around the world. We don't want our customers waiting for their data, and that is why we are heavily investing in network programs focused on driving lower latency."
Briggs added, "All of our investments in global network expansions, network projects and new technology reinforce our commitment to our large- business, multinational and government customers. Whether it's an end-to-end global solution or a stand-alone communications service, we are bringing the power of IP to bear in helping our customers do business better."
About Verizon Business
Verizon Business, a unit of Verizon Communications , is a leading provider of advanced communications and information technology (IT) solutions to large-business and government customers worldwide. Combining unsurpassed global network reach with advanced communications, security and other professional service capabilities, Verizon Business delivers innovative and seamless business solutions to customers around the world. For more information, visit http://www.verizonbusiness.com/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Verizon Business
CONTACT: Linda Laughlin, +1-918-590-5595, linda.laughlin@verizonbusiness.com; Jo Perrin, +44-770-252-5868, jo.perrin@verizonbusiness.com, both of Verizon Business
Web site: http://www.verizonbusiness.com/ http://www.verizon.com/
Company News On-Call: http://www.prnewswire.com/comp/618232.html http://www.prnewswire.com/comp/094251.html
Mothers Work Elects Arnaud Ajdler to Board of Directors
PHILADELPHIA, March 11 /PRNewswire-FirstCall/ -- Mothers Work, Inc. , the world's leading maternity apparel retailer, today announced that Arnaud Ajdler, a Managing Director of Crescendo Partners, has been appointed to the Company's Board of Directors as well as to the Board's Compensation Committee. Mr. Ajdler was appointed to the Board at the recommendation of Crescendo Partners, a holder of approximately 11.2% of Mothers Work's outstanding shares of common stock. In connection with the election of Mr. Ajdler to the Board, Crescendo Partners and certain of its affiliates have entered into a confidentiality agreement with the Company. Additional information relating to the agreement with Crescendo will be contained in a Form 8-K to be filed by the Company.
Dan Matthias, Chairman and Chief Executive Officer of Mothers Work, Inc., noted, "We are pleased to have Mr. Ajdler on our Board, and we look forward to the positive contributions he will make to our Company."
Mothers Work is the world's largest designer and retailer of maternity apparel, using its custom TrendTrack(TM) merchandise analysis and planning system as well as its quick response replenishment process to "give the customer what she wants, when she wants it." As of February 29, 2008, Mothers Work operates 1,536 maternity locations, including 766 stores, predominantly under the tradenames Motherhood Maternity(R), A Pea in the Pod(R), Mimi Maternity(R), and Destination Maternity(R), and sells on the web through its DestinationMaternity.com and brand-specific websites. In addition, Mothers Work distributes its Oh Baby by Motherhood(TM) collection through a licensed arrangement at Kohl's(R) stores throughout the United States and on Kohls.com.
The Company cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or made from time to time by management of the Company, including those regarding expected results of operations, liquidity and financial condition and various business initiatives, involve risks and uncertainties, and are subject to change based on various important factors. The following factors, among others, in some cases have affected and in the future could affect the Company's financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any such forward-looking statements: our ability to successfully manage our various business initiatives, our ability to successfully manage and retain our leased department and licensed relationships and marketing partnerships, future sales trends in our existing store base, weather, changes in consumer spending patterns, raw material price increases, consumer preferences and overall economic conditions, the impact of competition and pricing, availability of suitable store locations, continued availability of capital and financing, ability to hire and develop senior management and sales associates, ability to develop and source merchandise, ability to receive production from foreign sources on a timely basis, potential stock repurchases, potential debt prepayments, changes in market interest rates, war or acts of terrorism, and other factors set forth in the Company's periodic filings with the Securities and Exchange Commission, or in materials incorporated therein by reference.
Mothers Work press releases available through Company News On-Call at http://www.prnewswire.com/comp/581877.htm
Mothers Work, Inc.
CONTACT: Edward M. Krell, Chief Operating Officer and Chief Financial Officer of Mothers Work, Inc., +1-215-873-2220
Web site: http://www.motherswork.com/
Company News On-Call: http://www.prnewswire.com/comp/581877.html
European Travel Strong in '08 as 50 Percent of Americans Trekking Across the Pond This YearTripAdvisor Survey Reveals Best and Worst of Europe
NEEDHAM, Mass., March 11 /PRNewswire/ -- TripAdvisor(R), the world's largest travel community, today announced the results of its annual European travel survey, concluded last week, of more than 1,400 travelers worldwide. Sixty-five percent of respondents are planning to travel to/within Europe in the next 12 months, nearly equal to last year. Despite the weak dollar, exactly half of U.S. respondents intend to visit Europe this year, the same amount as one year ago.
September appears to be the busiest month for travel in Europe this year, as 20 percent of respondents intend to visit at that time. Thirty percent of travelers said they are most likely to save money on their excursion to or within Europe by going off-peak. Forty-two percent of travelers (and 51 percent of Americans) expect to spend more money on this year's trip to Europe than on their previous trip there.
Survey revealed:
Best Bargain European Cities:
1. Prague
2. Budapest
3. Lisbon
Most Expensive European Cities:
1. London
2. Paris
3. Rome
European Cities with the Most Friendly and Helpful Locals:
1. Dublin
2. Amsterdam
3. London
European Cities with the Best Cuisine:
1. Paris
2. Rome
3. Florence
European Cities with the Best Shopping:
1. Paris
2. London
3. Rome
European Cities with the Best Night Life:
1. London
2. Amsterdam
3. Paris
European Cities with the Best Public Parks:
1. London
2. Paris
3. Barcelona, Amsterdam (tie)
Most Romantic European Cities:
1. Paris
2. Venice
3. Rome
European Cities with the Most Attractive Locals:
1. Rome
2. Paris
3. Stockholm
Cleanest European Cities:
1. Zurich
2. Copenhagen
3. Stockholm
Dirtiest European Cities:
1. London
2. Paris
3. Rome
European Cities with the Most Unfriendly Hosts:
1. Paris
2. London
3. Moscow
Most Boring European Cities:
1. Brussels
2. Zurich
3. Warsaw
"Americans are still drawn to Europe, despite unfavorable exchange rates and economic concerns," said Michele Perry, director of communications for TripAdvisor. "Although the best bargain European city may be Prague, according to the survey, the most popular European city to visit this year is also considered the most expensive -- London."
About TripAdvisor Media Network
TripAdvisor(R) Media Network, operated by TripAdvisor, LLC, attracts nearly 30 million monthly visitors (source: comScore Media Metrix, Digital Calculator Report, July 2007) across eight popular travel brands, TripAdvisor(R) sites, bookingbuddy.com (TM), cruisecritic.com(TM), independenttraveler.com(TM), seatguru.com(R), smartertravel.com(TM), travel-library.com(TM) and travelpod.com(TM). TripAdvisor-branded sites make up the largest travel community in the world, with more than 25 million monthly visitors, five million registered members and 10 million reviews and opinions. Featuring real advice from real travelers, TripAdvisor-branded sites cover 280,000+ hotels and attractions and operate in the U.S. (http://www.tripadvisor.com/), the U.K. (http://www.tripadvisor.co.uk/), Ireland (http://www.tripadvisor.ie/), France (http://www.tripadvisor.fr/), Germany (http://www.tripadvisor.de/), Italy (http://www.tripadvisor.it/), and Spain (http://www.tripadvisor.es/). TripAdvisor(R) Media Network provides travel suppliers with graphical advertising opportunities and a cost-per-click marketing platform. Collectively, the sites comprising the TripAdvisor Media Network have won hundreds of awards and accolades from press and industry, worldwide. TripAdvisor and the sites comprising the TripAdvisor Media Network are operating companies of Expedia, Inc. .
TripAdvisor, Seatguru, Travel-library and Travelpod are either registered trademarks or trademarks of TripAdvisor LLC in the U.S. and/or other countries. Bookingbuddy and Smartertravel are either trademarks or registered trademarks of Smarter Travel Media LLC in the U.S. and/or other countries. Cruise Critic and The Independent Traveler are either trademarks or registered trademarks of The Independent Traveler, Inc. in the U.S. and/or other countries. Other logos or product and company names mentioned herein may be the property of their respective owners.
TripAdvisor
CONTACT: Consumer: Brooke Ferencsik, +1-781-444-1113, ext. 275, brooke@tripadvisor.com; or Trade-Business: Brian Payea, +1-781-444-1113, ext. 388, bpayea@tripadvisor.com, both of TripAdvisor
Web site: http://www.tripadvisor.com/
eCollege Honored as Finalist in Software & Information Industry Association's 23rd Annual CODiE AwardsRecognized in Best Postsecondary Enterprise Solution Category
DENVER, March 11 /PRNewswire-FirstCall/ -- eCollege is a finalist in the Software & Information Industry Association's (SIIA) 23rd Annual CODiE Awards. The nation's leading provider of comprehensive eLearning technology and services to the education industry is honored in the Best Postsecondary Enterprise Solution category.
Established in 1986, the CODiE Awards celebrate outstanding achievement and vision in the software, digital information and education technology industries. Through a unique combination of journalist and peer review, the CODiE Awards recognize 68 categories of outstanding products and services. This year's finalists represent an impressive array of technology and business excellence, passion and success. They were chosen from more than 1,100 nominations, submitted by more than 600 companies.
"Competition is tough this year and that makes selection as a CODiE finalist a real achievement," said Ken Wasch, SIIA president. "All the companies on this year's list should feel justifiably proud of their recognition."
A Pearson company, eCollege provides an on-demand eLearning platform used to support online distance education and technology-enhanced education across the education enterprise. Because eCollege provides a Software-as-a-Service solution, as well as key support services, colleges and universities are free to focus on improving education and student success rather than managing technology.
Thirteen Pearson products were named as finalists in this year's (SIIA) CODiE Awards. Honors for Pearson's products span the award program's software, content and education categories. In addition to eCollege, the Pearson products recognized this year are DRA(R)2 Online Writer, ELLIS, FamilyEducation, KnowledgeBox(R), NovaNET(R), PASeries(R) (Progress Assessment Series(R)), Pearson Inform(TM) 4.1, PowerSchool(R) Premier, SuccessMaker(R) Enterprise, WriteToLearn(TM) 4.0, Waterford Early Learning(TM)-Reading and Waterford Early Learning-Math and Science.
In the next step of the CODiE Awards process, SIIA members will select winners in each category. The 2008 CODiE Awards will be presented on May 20 at the CODiE Awards Gala at the Palace Hotel in San Francisco. For a complete list of the 2008 CODiE Award finalists, visit http://www.siia.net/codies/2008/finalists.asp.
About SIIA
The Software & Information Industry Association (SIIA) is the principal trade association for the software and digital content industry. SIIA provides global services in government relations, business development, corporate education and intellectual property protection to more than 800 leading software and information companies. For further information, visit http://www.siia.net/.
About Pearson
Pearson is the global leader in educational publishing, assessment, information and services, helping people of all ages to learn at their own pace, in their own way. The company is home to such respected brands as Scott Foresman, Prentice Hall, PowerSchool, Addison Wesley, Allyn & Bacon, Longman and many others. Pearson's comprehensive offerings help inform targeted instruction and intervention so that success is within reach of every student. Pearson's other primary businesses include the Financial Times Group and the Penguin Group.
Pearson
CONTACT: Lisa Wolfe of L. Wolfe Communications, +1-773-325-9935, lwolfe@lwolfe.com, for Pearson
Web site: http://www.pearson.com/ http://www.siia.net/
AU Optronics Announced the World's First 16:9 Full HD 24-inch TFT-LCD for Desktop Monitor
HSINCHU, Taiwan, March 11 /Xinhua-PRNewswire-FirstCall/ -- AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced the world's first 16:9 Full HD TFT-LCD with 1920 x 1080 resolution for desktop monitor. The 16:9 wide format display is perfect for desktop computers to run the emerging digital media and full HD contents. AUO's new 24-inch LCD panel combines the stylish thin and eco-friendly designs to introduce AUO's product lines for MoniTV application. The company's MoniTV LCD panels adopt the resolutions of Full HD 1080p applicable to both TVs and monitors, and are expected to lead the new trend of widescreen desktop monitor market.
Full HD 1080p high resolutions to display digital media content efficiently
The 24-inch LCD panel is AUO's first 16:9 product for MoniTV application aimed at the combined usage of high definition videos and desktop computers. The resolution of Full HD 1080p is supported by traditional monitors and high definition contents. The 1080p display capability provides excellent image quality for Blu-Ray DVD playback or High Definition TV broadcasting and solves the problem of distorted image when playing such high definition contents on LCDs with conventional 16:10 1680x1050 WSXGA+ or 1920x1200 WUXGA resolutions. It can further provide solutions to the problem of memory buffer allocation on desktop computers and enable users to view perfect high definition contents.
14-mm thinness module featuring ultra thin and light stylish design ready for mass production
AUO improved the mechanical and optical technologies of medium-sized monitor panels and developed new ultra thin and slim bezel technology for large-sized products. The new technology successfully prevents lamp-mura issues easily occurred when reducing the thickness on large-sized LCD panels and provides high uniformity for close look. The ultra thin and light technology also offers more possibilities for monitor industrial design. Compared with the conventional 24-inch monitor panel, AUO is able to reduce over 50% of the module thickness from 35 mm to 14 mm.
The new environmental friendly technology, saving up to 50% in power consumption
AUO has aggressively utilized its "Green Solutions" initiative beginning this year. The practice of environmental-friendly product design is one of the missions. AUO optimized the optical performance and reduced the amount of CCFL backlights of this 24-inch monitor panel. As a result, the power consumption is reduced by up to 50%. With less than half of the energy, the brightness can be retained as 300 nits and contrast ratio reached 1000:1. Furthermore, taking the average 50,000 hours life of a typical LCD monitor for example, the new technology can save consumers 2,500 watts of power which are equal to 1.6 tons of carbon emission reduction.
AUO will continue to develop a series of 16:9 LCD panels for MoniTV application to meet the emerging trends of the convergence between the consumer monitor and personal TV with Full HD resolution. The full lineup includes 15-inch, 18.5-inch, 21.5-inch, 24-inch, 27-inch and 32-inch. Except for the commercialized 15-inch LCD panel, the 27-inch is scheduled to make mass market debut in the forth quarter of 2008. All other models will be mass produced in the second quarter of this year to lead in the 16:9 widescreen monitor panel market.
ABOUT AU OPTRONICS
AU Optronics Corp. ("AUO") is the world largest manufacturer* of large- size thin film transistor liquid crystal display panels ("TFT-LCD"), with approximately 20.3%* of global market share with revenues of NT$480.2 billion (US$14.81billion)* in 2007. TFT-LCD technology is currently the most widely used flat panel display technology. Targeted for 40"+ sized LCD TV panels, AUO's new generation (7.5-generation) fabrication facility production started mass production in the fourth quarter of 2006. The Company currently operates one 7.5-generation, two 6th-generation, four 5th-generation, one 4th- generation, and four 3.5-generation TFT- LCD fabs, in addition to eight module assembly facilities and the AUO Technology Center specializes in new technology platform and new product development. AUO is one of few top-tier TFT-LCD manufacturers capable of offering a wide range of small- to large- size (1.5"-65") TFT-LCD panels, which enables it to offer a broad and diversified product portfolio.
* DisplaySearch 4Q2007 WW Large-Area TFT-LCD Shipment Report dated Jan 23, 2008. This data is used as reference only and AUO does not make any endorsement or representation in connection therewith. 2007 year end revenue converted by an exchange rate of NTD32.43:USD1.
AU Optronics Corp.
CONTACT: Rose Lee of the Corporate Communications Dept at AU Optronics Corp, +886-3-5008899 ext 3204, or fax, +886-3-5772730, or email, rose.lee@auo.com; Yawen Hsiao of the Corporate Communications Dept. at AU Optronics Corp., +886-3-5008899 ext 3211, or fax, +886-3-5772730, or email, yawen.hsiao@auo.com, both for AU Optronics Corp.
Web site: http://www.auo.com/
AT&T, Energy City Qatar, Qtel, and Navlink Sign Agreement to Develop Advanced Networking Services
DOHA, Qatar, March 11 /PRNewswire/ --
- Energy City Qatar, the Region's First Integrated Business and
Residential hub for the Hydrocarbon Industry Will Connect Businesses to
Global Markets
- Oil, gas Companies to Benefit From Access to AT&T's Worldwide Network
AT&T Inc. (NYSE:T) today announced that an AT&T subsidiary, in
association with Qtel and NavLink, has signed a memorandum of understanding
with Energy City Qatar (ECQ) to jointly develop and deliver advanced data
communications services and solutions to the "first-of-its kind" landmark
business centre in the Middle East.
ECQ is a major US$2.6 billion development to create the Middle
East's first integrated energy and business centre for the oil and gas
industry. With today's announcement, ECQ is moving rapidly to provide its
commercial tenants with the networking expertise, data and voice
telecommunications, Internet Protocol (IP) and Internet, hosting and managed
services needed for companies to do business both locally and globally.
ECQ will build and provide the facilities and infrastructure required to
equip a carrier class Internet data centre (IDC) and a network operations
centre ("NOC") in the Energy City service centre in Qatar. The two centres
will comply with AT&T's and Qtel's standards for these types of facilities.
NavLink, (a company in which AT&T and Qtel both hold a minority
shareholding) will supply network management tools and use both the NOC and
IDC to deliver a variety of AT&T managed and hosting services to the ECQ
tenants. AT&T and Qtel will jointly deliver global and local network IP data
and voice services to Energy City tenants in Qatar.
Today's announcement reflects the continuing focus that AT&T is placing
in the Middle East, where the company has made significant investments in
recent years. AT&T placed its first Middle East global network node in Doha,
in cooperation with Qtel in 2005. Since then, AT&T has developed agreements
to deploy its infrastructure in the United Arab Emirates, Saudi Arabia and
Kuwait. AT&T opened its regional headquarters in Dubai in 2006 to meet the
needs of its customers in this emerging and high-growth market.
AT&T provides advanced communications services to global multinational
customers and offers consistent, resilient, standardized IP services to
business customers around the world. These services include IP-based Virtual
Private Networks (VPN), which use the latest Multiprotocol Label Switching
(MPLS) technology, and are complemented by an advanced portfolio of
data-hosting services and leading IP security offerings.
This week AT&T was named by Fortune magazine as among the Top 50 Most
Admired companies in the world for the first time. AT&T placed No. 34 on the
overall World's Most Admired Companies list. Fortune also named AT&T the
World's Most Admired Telecommunications Company.
"AT&T is pleased to be able to play such an important role in this
prestigious, landmark project," said John Gibson president of Business
Development, Middle East and Africa, AT&T Global Business Services. "Today's
announcement is an important opportunity for AT&T to help connect businesses
around the world, using the best networking solutions at its disposal to
benefit this major business centre in the Middle East, one of the world's
fastest growing economies."
Qtel is a major telecommunications service provider of both fixed and
mobile telecommunications in the state of Qatar and is expanding its presence
in the Middle East, North Africa, and Asia to become one of the world's top
20 telecommunications companies by 2020. Today's announcement underlines the
strategic investment of resources into consumer wireless, fixed wireless, and
managed data services, the latter serving large and corporate business both
in Qatar and abroad.
"Qtel is delighted to be involved with this very important initiative as
part of our continuous and committed support to Qatar's business community,
represented by this ground breaking project at Energy City." said Dr. Nasser
Marafih, CEO, of Qtel. "Providing local expertise in conjunction with
established partners is a win-win situation for all involved and gives Energy
City Qatar the support it needs on its journey towards being a major business
centre in the Middle East."
ECQ is proud to be associated with Qtel, Qatar's leading
telecommunications company and AT&T -- one of the world's preeminent
telecommunications companies," said Mr. Hesham Al Emadi, Energy City Qatar
CEO. "Joining Qtel and AT&T's advanced telecoms technologies and expertise
will play a major role in connecting companies to global markets and
expertise within the hydrocarbon industry, thus securing Energy City Qatar's
status as the first global hub for companies in this sector."
Laurent Delifer, Co-President & COO of NavLink commented, "NavLink is
keen on working with ECQ on introducing world-class ICT services, hence,
creating more value to ECQ tenants. This is an exciting collaboration and we
are looking forward, with our strategic partners, to enable ECQ to offer
advanced IP-based services to its tenants within the city as well as managed
global connectivity to fulfill their most demanding telecommunications
needs."
Find More Information Online:
Web Site Links:
AT&T Web Site - (http://www.att.com)
NaviLink Website - (http://www.navlink.com)
Related Media Kits:
AT&T's Internet Protocol Virtual Private Network
(http://www.att.com/gen/press-room?pid=9659)
Related Releases:
AT&T to Invest US$1 Billion in Global Network and Services for
Multinational Customers in 2008 -
(http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25257)
Related Fact Sheets:
AT&T VPN Snapshot - http://www.att.com/Common/merger/files/pdf/VPN_Snapshot.pdf
Technorati Tags:
AT&T:(http://www.technorati.com/tag/at&t)
Middle East:(http://www.technorati.com/tag/middle+east)
Africa: (http://www.technorati.com/tag/africa)
John Gibson: (http://www.technorati.com/tag/john+gibson)
About Energy City Qatar (ECQ)
Energy City Qatar (ECQ) is a pioneering development that will be the
Gulf's first oil and gas industry hub. ECQ will be a single point of access
to markets and expertise, the Middle East home for global players in the
hydrocarbon value chain. Envisioned by Gulf Energy, ECQ aims to attract the
industry leaders in Oil & Gas production, IOCs, NOCs, support services,
infrastructure and downstream activities, shipping and trading, market and
resource data, intellectual property and energy trading. ECQ has the full
support of the Qatari Government and aims to lead the way in hydrocarbon
above ground resource development. ECQ forms part of the major new city
development, Lusail, which in addition to major business and entertainment
districts, will be home to up to 200,000 residents. Qatar is the most
progressive, business friendly and the fastest growing economy in the Middle
East. Home to the world's third largest natural gas reserves, Qatar has a
stable and maturing political environment, a free press, and internationally
recognized regulatory environment. ECQ's lead financial advisor is Gulf
Finance House, and PFC Energy is its strategic advisor. Its strategic
partners are Abu Dhabi Investment House and Kuwait Investment Company.
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.
About Qtel
The Qtel Group today operates in 16 countries in the Middle
East, North Africa and Asia-Pacific through its subsidiary and associate
companies and has successfully grown its total mobile subscriber base from
1.3 million in September 2006 to 16 million in December 2007. The Group's
proportionate subscribers in December 2007 stood at 7 million (2006: 1.1
million subscribers).
About NavLink
NavLink (http://www.navlink.com) is a leading provider of
managed data services for hosting, and enterprise networking solutions to a
strong customer base in over 17 countries throughout Europe, the Middle East
and Africa. Founded in 1996, NavLink has built a strong reputation by
delivering state-of-the-art business and technical consulting, enterprise
networking, enterprise hosting, systems integration, and managed services.
NavLink enjoys deep, strategic relationships with leading telecommunications
carriers.
NavLink manages and operates several carrier class data centers in Europe
and the Middle East that are interconnected with AT&T's global network (AGN)
and host AGN nodes. NavLink acts as a service delivery arm for AT&T in the
Middle East and North Africa and works to expand the AGN. AT&T has held a
significant investment in NavLink for a number of years.
(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
For more information, contact: Niall Hickey, E-mail: nhickey@emea.att.com, Office: +44(0)20-7663-5076
Vercadia Systems Joins as Autonomy ZANTAZ Consulting Services PartnerBrings Extensive Electronic Discovery Consulting Expertise to Industry's First Complete Proactive Information Risk Management Solutions
CAMBRIDGE, England and PLEASANTON, California, March 11
/PRNewswire-FirstCall/ -- Autonomy ZANTAZ , the leader in the archiving, eDiscovery and Proactive Information Risk Management (IRM) markets, today announced that Vercadia Systems has joined its Consulting Services Partner Program. This partnership with Vercadia Systems, a leading electronic discovery systems integrator and consultancy, enables ZANTAZ clients to take advantage of Vercadia's more than 45 years of combined expertise in eDiscovery. Vercadia Systems provides professional services to the Electronic Discovery industry, including best practices, workflow automation and data analytics.
"Corporations are facing an unprecedented amount of discovery data and more demanding discovery schedules," said Ellery Dyer, partner at Vercadia Systems. "Increasingly, organizations are looking for a single, seamless discovery solution to meet this challenge, and uniquely, Autonomy ZANTAZ has the complete solution. Vercadia's role is to maximize the benefits of the deployed solution through knowledge transfer, customizations and integration."
Lack of awareness of relevant information within the organization can result in duplication of effort, inefficiency and protracted data search, but these are relatively inconsequential when compared to the potentially disastrous consequences of failing to adhere to regulations such as the Federal Rules of Civil Procedure (FRCP). Autonomy ZANTAZ is the only vendor to offer the full spectrum of IRM solutions. Powered by Autonomy's next generation Meaning-based Computing technology, Autonomy ZANTAZ solutions enable companies to benefit from complete control over all enterprise content for the entire information lifecycle.
"Vercadia's services are high impact. Vercadia fully understands the challenges and risks inherent in the discovery process and how Autonomy ZANTAZ' technologies can be leveraged to gain a competitive advantage. We are confident that Vercadia will be an asset to our customers," said Anthony Bettencourt, CEO of Autonomy ZANTAZ.
About Vercadia
Vercadia Systems provides professional services to the Electronic Discovery industry including best practices, workflow automation, and data analytics. Vercadia Systems serves the OGC and Legal IT of the Fortune 500, the AmLaw 100, and international firms.
Vercadia partners with IT, legal and administrative teams to develop and deploy a unified collection, review, and production process. The Vercadia approach is measurable, repeatable, and fully audited. Vercadia clients experience reduced review times, enhanced work product, and lower overall costs.
About Autonomy ZANTAZ
ZANTAZ, an Autonomy company, is the leader in the archiving, eDiscovery and Proactive Information Risk Management (IRM) markets. It is the only vendor that offers an entire spectrum of Proactive Information Risk Management solutions ranging from consolidated archiving of all information sources including email, IM, enterprise systems, voice and video, to discovery and review, advanced eDiscovery, real-time policy management and analytics - all based on a common platform, IDOL. ZANTAZ solutions, which support more than 100 languages, are available as on-site software applications or on-demand software services (SaaS), or a combination of both. ZANTAZ customers include 10 of the top 10 global law firms, 13 of the Fortune 25 and 14 of the top 20 financial securities firms. Customers include Abbott Laboratories, Capital One, JMP Securities, Johnson & Johnson, Liberty Mutual, Linklaters, Philip Morris International and the U.S. Department of Interior. For more information, visit http://www.zantaz.com/ or call 800.636.0095.
About Autonomy
Autonomy Corporation plc is a global leader in infrastructure software for the enterprise and is spearheading the meaning-based computing movement. Autonomy's technology forms a conceptual and contextual understanding of any piece of electronic data including unstructured information, be it text, email, voice or video. Autonomy's software powers the full spectrum of mission-critical enterprise applications including information access technology, BI, CRM, KM, call center solutions, rich media management, information risk management solutions and security applications, and is recognized by industry analysts as the clear leader in enterprise search.
Autonomy's customer base comprises of more than 17,000 global companies and organizations including: 3, ABN AMRO, AOL, BAE Systems, BBC, Bloomberg, Boeing, Citigroup, Coca Cola, Daimler Chrysler, Deutsche Bank, Ericsson, Ford, GlaxoSmithKline, Lloyd TSB, NASA, Nestle, the New York Stock Exchange, Reuters, Shell, T-Mobile, the U.S. Department of Energy, the U.S. Department of Homeland Security and the U.S. Securities and Exchange Commission. Autonomy also has over 300 OEM partners and more than 400 VARs and Integrators, numbering among them leading companies such as BEA, Business Objects, Citrix, EDS, IBM Global Services, Novell, Satyam, Sybase, Symantec, TIBCO, Vignette and Wipro. The company has offices worldwide.
The Autonomy Group includes: ZANTAZ, the leader in the archiving, e-Discovery and Proactive Information Risk Management (IRM) markets; Cardiff, a leading provider of Intelligent Document solutions; etalk, award-winning provider of enterprise-class contact center products, Virage, a visionary in rich media management and security and surveillance technology and Meridio, a leading provider of records management software.
Autonomy and the Autonomy logo are registered trademarks or trademarks of Autonomy Corporation plc. All other trademarks are the property of their respective owners.
Autonomy ZANTAZ Editorial Contacts:
Winifred Shum
Autonomy (US)
+1-408-771-6668
wshum@autonomy.com
Edward Bridges
Financial Dynamics (UK)
+44(0)207-831-3113
edward.bridges@fd.com
Ali Merifield
Bite Communications (UK)
+44(0)20-8834-3441
+44(0)20-8741-1123
ali.merifield@bitepr.com
Vercadia Systems Editorial Contact:
Ellery Dyer
Vercadia Systems
+1-978-882-2206
ellery.dyer@vercadia.com
Autonomy Corporation plc
CONTACT: Autonomy ZANTAZ Editorial Contacts: Winifred Shum, Autonomy (US), +1-408-771-6668, wshum@autonomy.com; Edward Bridges, Financial Dynamics (UK), +44(0)207-831-3113, edward.bridges@fd.com; Ali Merifield, Bite Communications (UK), +44(0)20-8834-3441, +44(0)20-8741-1123, ali.merifield@bitepr.com; Vercadia Systems Editorial Contact: Ellery Dyer, Vercadia Systems, +1-978-882-2206, ellery.dyer@vercadia.com
Elbit Systems Reports Fourth Quarter and Full Year Results for 2007Record Revenues, Net Profit, Backlog and Operating Cash Flow2007 Revenues Increased by 30% to $1.98 Billion With Year-End Backlog Over $4.6 Billion2007 EPS Increased to $1.81 With Operating Cash Flow of $261 Million
HAIFA, Israel, March 11 /PRNewswire-FirstCall/ -- Elbit Systems Ltd. (the "Company") , the international defense electronics company, today reported its consolidated results for the fourth quarter and year-ended December 31, 2007.
The Company's backlog of orders as of December 31, 2007 reached $4.62 billion, an increase of 22%, as compared to $3.79 billion at the end of 2006. 70% of the backlog relates to orders outside of Israel. Approximately 70% of the Company's backlog as of December 31, 2007 is scheduled to be performed during 2008 and 2009.
Full year 2007 results
Consolidated revenues for the year ended December 31, 2007 increased by 30% to $1,982 million, as compared to $1,523 million in 2006.
Gross profit for the year ended December 31, 2007 was $516.4 million, as compared to gross profit of $373.5 million in 2006, and the gross profit margin in 2007 was 26.1%, as compared to 24.5% in 2006.
The annual results were negatively affected by one-time charges related to the completion of the acquisition of Tadiran Communications on April 26, 2007, which were charged in the second quarter of 2007. The Company recorded $27.1 million in expenses in relation to the acquisition as follows: In-Process Research & Development ("IPR&D") write-off of $16.6 million recorded under operating expenses, and restructuring expenses of $10.5 million recorded under cost of goods sold, which negatively affected the gross profit rate by 0.5%.
Consolidated net earnings for the year ended December 31, 2007 increased by 6.2% to $76.7 million, as compared to $72.2 million in 2006. Diluted earnings per share ("EPS") in 2007 were $1.81, as compared to $1.72 in 2006.
Excluding the above one-time, net charges related to the acquisition of Tadiran Communications, net earnings for the year ended December 31, 2007 were $101 million, and EPS was $2.39.
Operating cash flow produced by the Company in 2007 was $261 million, as compared to $201 million in 2006.
Fourth quarter 2007 results
Consolidated revenues for the fourth quarter of 2007 increased by 26.5% to $591.1 million, as compared to $467.4 million in the corresponding quarter of 2006.
Gross profit for the fourth quarter of 2007 was $156.2 million, as compared to gross profit of $100.2 million in the fourth quarter of 2006, and the gross profit margin in the fourth quarter of 2007 was 26.4%, as compared to 21.4% in the fourth quarter of 2006.
During the fourth quarter of 2007, the Company had a $10 million financial expense related to the write-off of investments Auction Rate Securities, which were rated AAA or AA when acquired, and which have experienced multiple failed auctions due to a lack of liquidity in the market for these securities.
The Company gained a one-time tax benefit of approximately $10 million, related to prior years' adjustments arising from executing tax settlements by the Company and some of its subsidiaries in the last quarter of 2007.
Consolidated net earnings for the fourth quarter of 2007 increased by 33.2% to $31.9 million, as compared to $24.0 million for the same period of 2006. Diluted EPS for the fourth quarter of 2007 was $0.75, as compared to $0.57 for the fourth quarter of 2006.
The President and CEO of Elbit Systems, Joseph Ackerman, commented: "2007 was a banner year in which we continued our top line growth while producing record net profit, EPS, backlog and operating cash flow. We have been very successful in further globalizing our business, with strong growth in Europe, and we now have presence in important and diversified geographic regions, with a cutting edge comprehensive product portfolio for the evolving needs of the markets in which we are active."
He added: "The synergies of our recent acquisitions with the rest of the Company are already bearing fruit, including implementing the successful integration of Tadiran Communications and Ferranti Technologies into the Elbit Systems family. We are gaining access to increased business opportunities, by utilizing our ability to offer more comprehensive and integrated solutions. We have been able to leverage and utilize our ability to offer even more wide-ranging end-to-end systems and solutions for the benefit of our customers and to compete for even larger projects. With our dedicated and professional worldwide workforce, we believe there are still further underlying synergies between our businesses and opportunities to grow. I am confident that we will continue to be able to meet our goals in the years ahead."
The Board of Directors has declared a dividend of $0.18 per share for the fourth quarter of 2007. The dividend will be paid on April 14, 2008, net of taxes and levies, at the rate of 16.29%. The record date of the dividend is April 1, 2008.
Conference Call
The Company will be hosting a conference call on Tuesday, March 11, at 10.00 am EDT.
To participate, please call one of the following teleconferencing numbers. Please begin placing your calls at least 5 minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.
US Dial-in Numbers: 1-888-407-2553
UK Dial-in Number: 0-800-917-9141
ISRAEL Dial-in Number: 03-918-0610
INTERNATIONAL Dial-in Number: +972-3-918-0610
at:
10:00 am Eastern Daylight Time 7:00 am Pacific Time
2:00 pm Greenwich Mean Time 4:00 pm Israel Time
This call will also be broadcast live on Elbit Systems' web-site at http://www.elbitsystems.com/. An online replay will be available from 24 hours after the call ends.
Alternatively, for two days following the end of the call, investors will be able to dial a replay number to listen to the call. Please dial either: +1-888-254-7270 (US) 0-800-917-4256 (UK) or +972-3-925-5938 (Israel and International).
About Elbit Systems Ltd.
Elbit Systems Ltd. is an international defense electronics company engaged in a wide range of defense-related programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned air vehicle (UAV) systems, advanced electro-optics, electro-optic space systems, EW suites, airborne warning systems, ELINT systems, data links and military communications systems and radios. The Company also focuses on the upgrading of existing military platforms and developing new technologies for defense, homeland security and commercial aviation applications.
This press release contains 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) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current fact. Forward Looking Statements are based on management's expectations, estimates, projections and assumptions. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results, performance and trends may differ materially from these forward-looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this release. The Company does not undertake to update its forward-looking statements.
(FINANCIAL TABLES TO FOLLOW)
ELBIT SYSTEMS LTD.
CONSOLIDATED BALANCE SHEETS
(In thousand of US Dollars)
December 31 December 31
2007 2006
Audited Audited
Assets
Current Assets:
Cash and short term deposits 373,955 85,400
Trade receivable and others 569,533 465,429
Inventories, net of advances 480,603 371,962
Total current assets 1,424,091 922,791
Affiliated Companies & other Investments 66,161 235,723
Long-term receivables & others 309,991 190,963
Fixed Assets, net 350,514 294,628
Other assets, net 630,735 128,995
2,781,492 1,773,100
Liabilities and Shareholder's Equity
Current liabilities 1,267,198 810,885
Long-term liabilities 957,200 461,760
Minority Interest 20,085 6,871
Shareholder's equity 537,009 493,584
2,781,492 1,773,100
ELBIT SYSTEMS LTD.
CONSOLIDATED STATEMENTS OF INCOME
(In thousand of US Dollars, except for per share amounts)
For the Year Ended Three Months Ended
December 31 December 31
2007 2006 2007 2006
Audited Unaudited
Revenues 1,981,761 1,523,243 591,056 467,388
Cost of revenues 1,454,913 1,149,768 434,891 367,163
Restructuirng expenses 10,482 - - -
Gross Profit 516,366 373,475 156,165 100,225
Research and development, net 126,995 92,232 39,401 27,869
Marketing and selling 157,411 111,880 44,277 30,853
General and administrative 107,447 77,505 34,265 20,051
IPR&D write-off 16,560 - - -
Total operating expenses 408,413 281,617 117,943 78,773
Operating income 107,953 91,858 38,222 21,452
Financial expenses, net (19,329) (21,456) (10,632) (6,093)
Other income (expenses), net 368 1,814 286 1,423
Income before income taxes 88,992 72,216 27,876 16,782
Provisions for income taxes (13,810) (20,694) 7,501 (4,049)
75,182 51,522 35,377 12,733
Equity in net earnings (losses)
of affiliated companies and
partnership 14,565 14,743 4,544 6,554
Minority rights (13,038) 5,977 (7,995) 4,673
Net income 76,709 72,242 31,926 23,960
Earnings per share
Basic net earnings per share 1.82 1.75 0.75 0.57
Diluted net earnings per share 1.81 1.72 0.75 0.57
Contacts:
Company Contact:
Joseph Gaspar, Corporate VP & CFO
Dalia Rosen, Director of Corporate Communications
Elbit Systems Ltd.
Tel: +972-4-8316663
Fax: +972-4-8316944
E-mail: gspr@elbit.co.il
daliarosen@elbit.co.il
IR Contact:
Ehud Helft
Kenny Green
G.K. Investor Relations
Tel: +1-866-704-6710
Fax: +972-3-607-711
E-mail: info@gkir.com
Elbit Systems Ltd
CONTACT: Contacts: Company Contact: Joseph Gaspar, Corporate VP & CFO, Dalia Rosen, Director of Corporate Communications, Elbit Systems Ltd., Tel: +972-4-8316663, Fax: +972-4-8316944, E-mail: gspr@elbit.co.il, daliarosen@elbit.co.il; IR Contact: Ehud Helft, Kenny Green, G.K. Investor Relations, Tel: +1-866-704-6710, Fax: + 972-3-607-711, E-mail: info@gkir.com
Social Networking Threats Addressed at MAAWG Meeting; Industry Advances to Combat Other Online Abuse
SAN FRANCISCO, March 11 /PRNewswire/ --
Initiating a dialogue with ISPs on how to protect social sites from
exploitation, Craig Newmark, founder of Craigslist, asked network operators
to trust that users will voluntarily report abuse and to cooperate with sites
in building a safe online environment at the Messaging Anti-Abuse Working
Group (MAAWG) general meeting in San Francisco held Feb. 18-20. Over the
course of the event, MAAWG committees completed a white paper on email
authentication and updated best practices for volume email senders, both of
which will be released to the industry within the next few weeks.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070124/CLW180LOGO )
A new subcommittee formed at the meeting began work focusing on DNS abuse
and port 53 management, and the event also featured panels and committee
discussions on filtering, monitoring outbound traffic, and other topics,
according to Jerry Upton, MAAWG executive director. The MAAWG 12th General
Meeting, attended by 300 industry professionals from over 20 countries, was
the first of three meetings the organization will have this year to advance
the technology, public policy and collaborative work necessary to fight
messaging abuse and spam.
The organization's 2008 officers also were named at the meeting with
Michael O'Reirdan, a distinguished engineer in national engineering and
technical operations at Comcast, elected MAAWG chair. MAAWG vice-chairs for
the year are Jonathan Curtis, sr. security architect, technology development
at Bell Canada; and Charles Stiles, Goodmail Systems vice president of
worldwide business development. Laurie Jill Wood, director of enterprise
security at Charter Communications, continues as treasurer. All have been
actively promoting cooperation among ISPs and vendors.
On the social networking panel, Newmark stressed the value of trusting
users to report abuse of his or any other popular site, a theme reiterated by
the other panelists from Google and Six Apart. At the same time, Newmark
recognized the need for increased collaboration between ISPs and socially
oriented sites to improve the experience for all users.
The social networking panel was one of more than 25 sessions and
committee meetings organized during the event. The discussions between ISPs
and social networking site operators will continue at the upcoming 13th MAAWG
General Meeting, June 10-12 in Heidelberg, Germany, along with presentations
on vital technical and public policy issues. More information is available at
the MAAWG Web site, http://www.MAAWG.org.
About the Messaging Anti-Abuse Working Group (MAAWG)
The Messaging Anti-Abuse Working Group (MAAWG) is where the messaging
industry comes together to work against spam, viruses, denial-of-service
attacks and other online exploitation. MAAWG (http://www.MAAWG.org)
represents almost one billion mailboxes from some of the largest network
operators worldwide. It is the only organization addressing messaging abuse
holistically by systematically engaging all aspects of the problem, including
technology, industry collaboration and public policy. MAAWG leverages the
depth and experience of its global membership to tackle abuse on existing
networks and new emerging services. Headquartered in San Francisco, Calif.,
MAAWG is an open forum driven by market needs and supported by major network
operators and messaging providers.
Media Contact: Linda Marcus, APR, +1-714-974-6356, lmarcus@astra.cc,
Astra Communications
MAAWG Board of Directors: AOL; AT&T (NYSE: T); Bell Canada; Charter
Communications (Nasdaq: CHTR); Cloudmark; Comcast (Nasdaq: CMCSA); Cox
Communications; EarthLink (Nasdaq: ELNK); France Telecom (NYSE and Euronext:
FTE); Goodmail Systems; Google Inc.; Openwave Systems (Nasdaq: OPWV); Return
Path, Inc. (Full-Member representative to the Board); Time Warner Cable;
Verizon Communications; and Yahoo! Inc.
MAAWG Full Members: 1&1 Internet AG; AG Interactive; Bizanga LTD;
Internet Initiative Japan, (IIJ Nasdaq: IIJI); IronPort Systems; McAfee Inc.;
MX Logic; Outblaze LTD; Return Path, Inc.; Sprint; Sun Microsystems, Inc.;
Symantec; and Telefonica SA.
Web site: http://www.maawg.org
Messaging Anti-Abuse Working Group
Linda Marcus, APR, of Astra Communications, +1-714-974-6356, lmarcus@astra.cc, for Messaging Anti-Abuse Working Group. Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070124/CLW180LOGO, AP Archive: http://photoarchive.ap.org, PRN Photo Desk, photodesk@prnewswire.com
Qualcomm Acquires Xiam Technologies Limited, Leading Provider of Wireless Content Discovery and Recommendations Technology- Deal Accelerates Commercialization of Intelligent Targeting Technology for Mobile -
SAN DIEGO, March 11 /PRNewswire-FirstCall/ -- Qualcomm Incorporated , a leading developer and innovator of advanced wireless technologies and data solutions, today announced that it has acquired Xiam Technologies Limited (Xiam), an Ireland-based pioneer of wireless content targeting solutions. Xiam's My Personal Offers System (MPOS) provides targeting and personalization technology that accelerates discovery and individualizes the user experience by presenting relevant content offers and advertisements to consumers.
Xiam's MPOS technology enables mobile operators and brands to make personalized recommendations to individual consumers that are tailored to their unique tastes and preferences using advanced profiling techniques. Consumers can receive personalized offers of new and relevant content over wireless and Web channels, both before and after purchase. MPOS also leverages demographic, contextual and behavioral profiling to enable true one- to-one mobile advertising. Coupled with the global reach of Qualcomm's ecosystem, MPOS will provide a powerful way for operators and brands to quickly and easily target their customers with relevant content offers and advertisements.
Qualcomm plans to continue to offer MPOS as a standalone product through Xiam as a wholly owned subsidiary, as well as offer the targeting technology as part of its core solutions and products to present operators and brands with powerful subscriber intelligence and personalization tools that help spur wireless data growth.
"Qualcomm's acquisition of Xiam provides us with advanced content discovery and recommendation technology that strengthens Qualcomm's services portfolio," said Andrew Gilbert, executive vice president of Qualcomm and president of Qualcomm Internet Services, MediaFLO Technologies and Qualcomm Europe. "With this acquisition, we are excited to further demonstrate our ongoing commitment to operators, brands and consumers worldwide."
"Qualcomm and Xiam are both committed to helping operators and brands reach their customers more effectively by providing them with the technology to make informed and relevant content recommendations," said Colm Healy, CEO of Xiam. "Qualcomm's suite of solutions and products are designed to help operators and brands deliver a wide range of content quickly and efficiently, and the addition of MPOS will only make that process more intuitive as consumers receive highly personalized offers attuned to their unique interests."
Qualcomm will pay approximately $32 million for Xiam and estimates the acquisition will be neutral to FY08 earnings per share.
Founded in 2004 and funded with venture capital from Delta Partners and Enterprise Ireland, Xiam is a software company that provides personalized targeting and recommendations technology that enables wireless operators to interact directly with individual customers offering them meaningful, timely and relevant content offers, promotions and advertisements through all wireless channels including WAP, Web and outbound messaging. These individualized offers enable the wireless operator to increase mobile content revenues dramatically, drive discovery of new and relevant products and services, and accurately target customers with meaningful advertisements while enhancing the customer experience and retention.
Qualcomm Internet Services (QIS) enables mobile retailing solutions and Internet services that accelerate consumer adoption and usage of mobile data worldwide for its operator, brand & affinity and content provider customers. Q Signature Solutions, which include BREW(R), BREW Gaming and BrandXtend(TM), are comprehensive solutions for customers seeking to bring high-value wireless services to market and enhance the mobile experience for consumers. Customers can also benefit from the Q Product Suite, a portfolio of adaptable, modular products that can be used to address specific mobile retail challenges from general merchandizing to personalized recommendations.
Qualcomm Incorporated (http://www.qualcomm.com/) is a leader in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies. Headquartered in San Diego, Calif., Qualcomm is included in the S&P 500 Index and is a 2007 FORTUNE 500(R) company traded on The Nasdaq Stock Market(R) under the ticker symbol QCOM.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of Qualcomm could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; management plans relating to the transaction; any statements of the plans, strategies and objectives of management for future operations, including the execution of technology integration plans; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that Qualcomm is unable to successfully implement technology integration strategies; and other risks that are described from time to time in Qualcomm's SEC reports, including the report on Form 10-K for the year ended September 30, 2007, and most recent Form 10-Q.
Qualcomm and BREW are registered trademarks of Qualcomm Incorporated. BrandXtend is a trademark of Qualcomm Incorporated. All other trademarks are the property of their respective owners.
Qualcomm Contacts:
Chris Grandis, Qualcomm Internet Services
Phone: 1-858-651-6022
Email: qis-pr@qualcomm.com
Emily Kilpatrick, Corporate Communications
Phone: 1-858-845-5959
Email: corpcomm@qualcomm.com
John Gilbert, Investor Relations
Phone: 1-858-658-4813
Email: ir@qualcomm.com
Qualcomm Incorporated
CONTACT: Chris Grandis, Qualcomm Internet Services, +1-858-651-6022, qis-pr@qualcomm.com, or Emily Kilpatrick, Corporate Communications, +1-858-845-5959, corpcomm@qualcomm.com, or John Gilbert, Investor Relations, +1-858-658-4813, ir@qualcomm.com, all of Qualcomm
Web site: http://www.qualcomm.com/
AT&T, Energy City Qatar, Qtel, and NavLink Sign Agreement to Develop Advanced Networking ServicesEnergy City Qatar, the region's first integrated business and residential hub for the hydrocarbon industry will connect businesses to Global MarketsOil, Gas companies to benefit from access to AT&T's worldwide network
DOHA, Qatar, March 11 /PRNewswire-FirstCall/ -- AT&T Inc. today announced that an AT&T subsidiary, in association with Qtel and NavLink, has signed a memorandum of understanding with Energy City Qatar (ECQ) to jointly develop and deliver advanced data communications services and solutions to the "first-of-its kind" landmark business centre in the Middle East.
ECQ is a major $2.6 billion development to create the Middle East's first integrated energy and business centre for the oil and gas industry. With today's announcement, ECQ is moving rapidly to provide its commercial tenants with the networking expertise, data and voice telecommunications, Internet Protocol (IP) and Internet, hosting and managed services needed for companies to do business both locally and globally.
ECQ will build and provide the facilities and infrastructure required to equip a carrier class Internet data centre (IDC) and a network operations centre ("NOC") in the Energy City service centre in Qatar. The two centres will comply with AT&T's and Qtel's standards for these types of facilities.
NavLink, (a company in which AT&T and Qtel both hold a minority shareholding) will supply network management tools and use both the NOC and IDC to deliver a variety of AT&T managed and hosting services to the ECQ tenants. AT&T and Qtel will jointly deliver global and local network IP data and voice services to Energy City tenants in Qatar.
Today's announcement reflects the continuing focus that AT&T is placing in the Middle East, where the company has made significant investments in recent years. AT&T placed its first Middle East global network node in Doha, in cooperation with Qtel in 2005. Since then, AT&T has developed agreements to deploy its infrastructure in the United Arab Emirates, Saudi Arabia and Kuwait. AT&T opened its regional headquarters in Dubai in 2006 to meet the needs of its customers in this emerging and high-growth market.
AT&T provides advanced communications services to global multinational customers and offers consistent, resilient, standardized IP services to business customers around the world. These services include IP-based Virtual Private Networks (VPN), which use the latest Multiprotocol Label Switching (MPLS) technology, and are complemented by an advanced portfolio of data- hosting services and leading IP security offerings.
This week AT&T was named by Fortune magazine as among the Top 50 Most Admired companies in the world for the first time. AT&T placed No. 34 on the overall World's Most Admired Companies list. Fortune also named AT&T the World's Most Admired Telecommunications Company.
"AT&T is pleased to be able to play such an important role in this prestigious, landmark project," said John Gibson president of Business Development, Middle East and Africa, AT&T Global Business Services. "Today's announcement is an important opportunity for AT&T to help connect businesses around the world, using the best networking solutions at its disposal to benefit this major business centre in the Middle East, one of the world's fastest growing economies."
Qtel is a major telecommunications service provider of both fixed and mobile telecommunications in the state of Qatar and is expanding its presence in the Middle East, North Africa, and Asia to become one of the world's top 20 telecommunications companies by 2020. Today's announcement underlines the strategic investment of resources into consumer wireless, fixed wireless, and managed data services, the latter serving large and corporate business both in Qatar and abroad.
"Qtel is delighted to be involved with this very important initiative as part of our continuous and committed support to Qatar's business community, represented by this ground breaking project at Energy City." said Dr. Nasser Marafih, CEO, of Qtel. "Providing local expertise in conjunction with established partners is a win-win situation for all involved and gives Energy City Qatar the support it needs on its journey towards being a major business centre in the Middle East."
ECQ is proud to be associated with Qtel, Qatar's leading telecommunications company and AT&T -- one of the world's preeminent telecommunications companies," said Mr. Hesham Al Emadi, Energy City Qatar CEO. "Joining Qtel and AT&T's advanced telecoms technologies and expertise will play a major role in connecting companies to global markets and expertise within the hydrocarbon industry, thus securing Energy City Qatar's status as the first global hub for companies in this sector."
Laurent Delifer, Co-President & COO of NavLink commented, "NavLink is keen on working with ECQ on introducing world-class ICT services, hence, creating more value to ECQ tenants. This is an exciting collaboration and we are looking forward, with our strategic partners, to enable ECQ to offer advanced IP-based services to its tenants within the city as well as managed global connectivity to fulfill their most demanding telecommunications needs."
About Energy City Qatar (ECQ)
Energy City Qatar (ECQ) is a pioneering development that will be the Gulf's first oil and gas industry hub. ECQ will be a single point of access to markets and expertise, the Middle East home for global players in the hydrocarbon value chain. Envisioned by Gulf Energy, ECQ aims to attract the industry leaders in Oil & Gas production, IOCs, NOCs, support services, infrastructure and downstream activities, shipping and trading, market and resource data, intellectual property and energy trading. ECQ has the full support of the Qatari Government and aims to lead the way in hydrocarbon above ground resource development. ECQ forms part of the major new city development, Lusail, which in addition to major business and entertainment districts, will be home to up to 200,000 residents. Qatar is the most progressive, business friendly and the fastest growing economy in the Middle East. Home to the world's third largest natural gas reserves, Qatar has a stable and maturing political environment, a free press, and internationally recognized regulatory environment. ECQ's lead financial advisor is Gulf Finance House, and PFC Energy is its strategic advisor. Its strategic partners are Abu Dhabi Investment House and Kuwait Investment Company.
About AT&T
AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.
About Qtel
The Qtel Group today operates in 16 countries in the Middle East, North Africa and Asia-Pacific through its subsidiary and associate companies and has successfully grown its total mobile subscriber base from 1.3 million in September 2006 to 16 million in December 2007. The Group's proportionate subscribers in December 2007 stood at 7 million (2006: 1.1 million subscribers).
About NavLink
NavLink (http://www.navlink.com/) is a leading provider of managed data services for hosting, and enterprise networking solutions to a strong customer base in over 17 countries throughout Europe, the Middle East and Africa. Founded in 1996, NavLink has built a strong reputation by delivering state-of-the-art business and technical consulting, enterprise networking, enterprise hosting, systems integration, and managed services. NavLink enjoys deep, strategic relationships with leading telecommunications carriers.
NavLink manages and operates several carrier class data centers in Europe and the Middle East that are interconnected with AT&T's global network (AGN) and host AGN nodes. NavLink acts as a service delivery arm for AT&T in the Middle East and North Africa and works to expand the AGN. AT&T has held a significant investment in NavLink for a number of years.
(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.
CONTACT: Niall Hickey, +44 20 7663 5076, nhickey@emea.att.com, for AT&T Inc.
Web site: http://www.att.com/
China Life to Optimize Business Processes With SAP to Enable GrowthLargest Life Insurer in China Selects SAP(R) for Insurance Solutions
BEIJING, March 11 /PRNewswire-FirstCall/ -- Demonstrating ongoing leadership in providing innovative solutions to insurers worldwide, SAP AG , today announced the largest life insurer in China, China Life Insurance Company Limited ("China Life") has selected SAP(R) for Insurance solutions to help the company quickly respond to the changing insurance market and create a stable platform for future growth and evolving business needs. With SAP's flagship enterprise resource planning (ERP) application, China Life aims to optimize its financial and human resource management processes, provide reliable support for its future operations and apply tools for better strategic decision-making on a unified, efficient and information-based platform.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050310/SFTH009LOGO-a)
Since its establishment in 1999, China Life has seized opportunities in China's booming insurance market and grown rapidly in all segments in which it operates. The company was successfully listed on the Hong Kong and the United States stock exchanges in 2003. In light of the need for new business development strategies following its initial public offering (IPO), China Life's management identified broader and more strategic use of information technology as one of the company's key development objectives. Based on the SAP NetWeaver(R) technology platform, SAP for Insurance will support China Life's strategies by unifying its business processes across the organization, enabling its management to make better decisions for day-to-day and future operations. SAP will work together with China Life to leverage SAP's well-established experience in the insurance industry and leading technology, to create an advanced platform on which China Life can streamline its operations.
China Life management believes that optimized financial and human resource management processes are key for effective management of internal operations. SAP(R) ERP will help China Life improve productivity for these core operations of its business while reducing total cost of ownership by aligning all systems on a common, modern platform.
"SAP China continues to strengthen its leadership position in China's rapidly evolving financial services industry," said Geraldine McBride, president and CEO of SAP Asia Pacific Japan. "SAP allows insurers to build their delivery strategy on a stable platform of enterprise management and industry-specific applications. The partnership with China Life further validates SAP's role as China's preferred solution provider for the financial services marketplace."
SAP Commitment to the Insurance Industry in Asia
China Life joins the increasing numbers of insurers globally who have selected SAP as the provider of a single integrated platform for all of their business process needs -- from claims management, distribution and billing to financial and human resources (HR). Nine of the top 10 global insurance companies use SAP software, and SAP has more than 600 insurance companies in 60 countries that run SAP solutions. In addition to China Life, SAP global customers include Co-operative Insurance Society, Montpelier Re and Offentliche Versicherung Braunschweig (OVBS).
SAP has a strong presence in Asia, because of the company's commitment to the insurance industry, vast solution offerings and strong partner ecosystem. New SAP customers from Asia include Dubang (China), Happy Life (China), Kyobo (Korea), New China Life, NTUC Income (Singapore), PICC Health Insurance (China), PICC Holding (China), PICC Life (China) and Taikang (China).
About China Life
Listed respectively in New York, Hong Kong and Shanghai, China Life Insurance Company Limited (China Life) is the world's largest listed life insurer and is a leader in China's insurance market. As the country's largest life insurer, China Life has always maintained its leadership of the life insurance market in the Chinese Mainland. According to China GAAP statistics, China Life took a market share of 45.27% at the end of 2006, continuing its leading position in China's life insurance market.
China Life is a leading provider of individual and group life insurance products and services, as well as annuity, accident insurance and health insurance. The company has, through China Life Insurance Asset Management Company Limited, where China Life has a controlling share, become China's largest insurance asset manager and one of China's largest institutional investors. With a longest history in life insurance operations, a leading market share and the largest countrywide customer base, China Life enjoys the most popularity in China's life insurance sector. According to research on the insurance market across 50 Chinese cities, China Life is a life insurance brand that enjoys the highest brand recognition of up to 92.3% among Chinese consumers.
About SAP
SAP is the world's leading provider of business software*. Today, more than 46,100 customers in more than 120 countries run SAP(R) applications -- from distinct solutions addressing the needs of small businesses and midsize companies to suite offerings for global organizations. Powered by the SAP NetWeaver(R) technology platform to drive innovation and enable business change, SAP software helps enterprises of all sizes around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP solution portfolios support the unique business processes of more than 25 industries, including high tech, retail, financial services, healthcare and the public sector. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol "SAP." (Additional information at http://www.sap.com/)
(*) SAP defines business software as comprising enterprise resource planning and related applications such as supply chain management, customer relationship management, product life-cycle management and supplier relationship management.
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
Copyright (C) 2008 SAP AG. All rights reserved.
SAP, R/3, mySAP, mySAP.com, xApps, xApp, SAP NetWeaver and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies. Data contained in this document serve informational purposes only. National product specifications may vary.
For customers interested in learning more about SAP products:
Global Customer Center: +49 180 534-34-24
United States Only: 1 (800) 872-1SAP (1-800-872-1727)
For more information, press only:
Evan Welsh, +49 (6227) 7-67514, evan.welsh@sap.com, CET
Karen Li, SAP China, +86 (6589) 8304, karen.li@sap.com, GMT +8
Jun Geng, Burson Marsteller, +86 58162556, jun.geng@bm.com, GMT +8
SAP Press Office, +49 (6227) 7-46315, CET; +1 (610) 661-3200, EST;
press@sap.com
Photo: http://www.newscom.com/cgi-bin/prnh/20050310/SFTH009LOGO-a AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
SAP AG
CONTACT: Evan Welsh of SAP AG, +49 (6227) 7-67514, evan.welsh@sap.com, CET, or Karen Li of SAP China, +86 (6589) 8304, karen.li@sap.com, GMT +8; or Jun Geng of Burson Marsteller, +86 58162556, jun.geng@bm.com, GMT +8, for SAP AG; or SAP Press Office, +49 (6227) 7-46315, CET; +1-610-661-3200, EST, press@sap.com
Web site: http://www.sap.com/
Qualcomm Acquires Xiam Technologies Limited, Leading Provider of Wireless Content Discovery and Recommendations Technology
SAN DIEGO, March 11 /PRNewswire/ --
- Deal Accelerates Commercialization of Intelligent Targeting Technology
for Mobile -
Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator
of advanced wireless technologies and data solutions, today announced that it
has acquired Xiam Technologies Limited (Xiam), an Ireland-based pioneer of
wireless content targeting solutions. Xiam's My Personal Offers System (MPOS)
provides targeting and personalization technology that accelerates discovery
and individualizes the user experience by presenting relevant content offers
and advertisements to consumers.
Xiam's MPOS technology enables mobile operators and brands to make
personalized recommendations to individual consumers that are tailored to
their unique tastes and preferences using advanced profiling techniques.
Consumers can receive personalized offers of new and relevant content over
wireless and Web channels, both before and after purchase. MPOS also
leverages demographic, contextual and behavioral profiling to enable true
one-to-one mobile advertising. Coupled with the global reach of
Qualcomm's ecosystem, MPOS will provide a powerful way for operators and
brands to quickly and easily target their customers with relevant content
offers and advertisements.
Qualcomm plans to continue to offer MPOS as a standalone product through
Xiam as a wholly owned subsidiary, as well as offer the targeting technology
as part of its core solutions and products to present operators and brands
with powerful subscriber intelligence and personalization tools that help
spur wireless data growth.
"Qualcomm's acquisition of Xiam provides us with advanced content
discovery and recommendation technology that strengthens Qualcomm's services
portfolio," said Andrew Gilbert, executive vice president of Qualcomm and
president of Qualcomm Internet Services, MediaFLO Technologies and Qualcomm
Europe. "With this acquisition, we are excited to further demonstrate our
ongoing commitment to operators, brands and consumers worldwide."
"Qualcomm and Xiam are both committed to helping operators and brands
reach their customers more effectively by providing them with the technology
to make informed and relevant content recommendations," said Colm Healy, CEO
of Xiam. "Qualcomm's suite of solutions and products are designed to help
operators and brands deliver a wide range of content quickly and efficiently,
and the addition of MPOS will only make that process more intuitive as
consumers receive highly personalized offers attuned to their unique
interests."
Qualcomm will pay approximately US$32 million for Xiam and estimates the
acquisition will be neutral to FY08 earnings per share.
Founded in 2004 and funded with venture capital from Delta Partners and
Enterprise Ireland, Xiam is a software company that provides personalized
targeting and recommendations technology that enables wireless operators to
interact directly with individual customers offering them meaningful, timely
and relevant content offers, promotions and advertisements through all
wireless channels including WAP, Web and outbound messaging. These
individualized offers enable the wireless operator to increase mobile content
revenues dramatically, drive discovery of new and relevant products and
services, and accurately target customers with meaningful advertisements
while enhancing the customer experience and retention.
Qualcomm Internet Services (QIS) enables mobile retailing solutions and
Internet services that accelerate consumer adoption and usage of mobile data
worldwide for its operator, brand & affinity and content provider customers.
Q Signature Solutions, which include BREW(R), BREW Gaming and BrandXtend(TM),
are comprehensive solutions for customers seeking to bring high-value
wireless services to market and enhance the mobile experience for consumers.
Customers can also benefit from the Q Product Suite, a portfolio of
adaptable, modular products that can be used to address specific mobile
retail challenges from general merchandizing to personalized recommendations.
Qualcomm Incorporated (www.qualcomm.com) is a leader in developing and
delivering innovative digital wireless communications products and services
based on CDMA and other advanced technologies. Headquartered in San Diego,
Calif., Qualcomm is included in the S&P 500 Index and is a 2007 FORTUNE
500(R) company traded on The Nasdaq Stock Market(R) under the
ticker symbol QCOM.
Except for the historical information contained herein, this news release
contains forward-looking statements that are subject to risks, uncertainties
and assumptions. If such risks or uncertainties materialize or such
assumptions prove incorrect, the results of Qualcomm could differ materially
from those expressed or implied by such forward-looking statements and
assumptions. All statements other than statements of historical fact are
statements that could be deemed forward-looking statements, including the
expected benefits and costs of the transaction; management plans relating to
the transaction; any statements of the plans, strategies and objectives of
management for future operations, including the execution of technology
integration plans; any statements of expectation or belief; and any
statements of assumptions underlying any of the foregoing. Risks,
uncertainties and assumptions include the possibility that expected benefits
may not materialize as expected; that Qualcomm is unable to successfully
implement technology integration strategies; and other risks that are
described from time to time in Qualcomm's SEC reports, including the report
on Form 10-K for the year ended September 30, 2007, and most recent
Form 10-Q.
Qualcomm and BREW are registered trademarks of Qualcomm Incorporated.
BrandXtend is a trademark of Qualcomm Incorporated. All other trademarks are
the property of their respective owners.
Qualcomm Contacts:
Chris Grandis, Qualcomm Internet Services
Phone: +1-858-651-6022
Email: qis-pr@qualcomm.com
Richard Tinkler, Qualcomm Europe
Phone: +44-208-466-0874
Email: rtinkler@qualcomm.com
John Gilbert, Investor Relations
Phone: +1-858-658-4813
Email: ir@qualcomm.com
Web site: http://www.qualcomm.com
Qualcomm Incorporated
Chris Grandis, Qualcomm Internet Services, +1-858-651-6022, qis-pr@qualcomm.com; or Richard Tinkler, Qualcomm Europe, +44-208-466-0874, rtinkler@qualcomm.com, or John Gilbert, Investor Relations, +1-858-658-4813, ir@qualcomm.com, all of Qualcomm
Réponses aux menaces pesant sur le réseautage social lors de la réunion du MAAWG ; progrès de l'industrie pour lutter contre d'autres formes d'abus en ligne
SAN FRANCISCO, March 11 /PRNewswire/ --
Craig Newmark, fondateur de Craigslist, ouvre le dialogue avec les
fournisseurs d'accès à Internet (FAI) sur la façon de protéger les sites
sociaux d'une exploitation abusive, et demande aux opérateurs de réseaux de
faire confiance aux utilisateurs, certain qu'ils dénonceront volontairement
les abus et coopéreront avec les sites pour construire un cyber-environnement
sûr, lors de l'assemblée générale du Groupe de travail contre les abus de
messagerie électronique (MAAWG - Messaging Anti-Abuse Working Group) qui
s'est tenue du 18 au 20 février à San Francisco. Pendant cet évènement, les
comités du MAAWG ont compilé un livre blanc sur l'authentification des
courriers électroniques et sur une mise à jour des pratiques d'excellence
pour les expéditeurs de courrier électronique en masse, sujets qui seront
diffusés dans l'industrie durant les prochaines semaines.
(Logo : http://www.newscom.com/cgi-bin/prnh/20070124/CLW180LOGO)
Un nouveau sous-comité, formé lors de la réunion, commencera à se pencher
particulièrement sur les abus de système DNS et la gestion de port 53 ; Jerry
Upton, directeur de MAAWG, rapporte que l'évènement comportait également des
tables rondes et des discussions sur la filtration et sur la surveillance du
trafic sortant, entre autres. La 12ème Assemblée annuelle du MAAWG, à
laquelle 300 professionnels du secteur venus de 20 pays ont assisté,
constituait la première des trois réunions tenues par l'organisation cette
année pour faire avancer la technologie, la réglementation publique et la
collaboration nécessaire à la lutte contre les abus de messagerie
électronique et le spam.
Lors de l'assemblée, les membres directeurs de l'organisation ont été
nommés pour 2008, avec Michael O'Reirdan, ingénieur distingué de la direction
technique nationale pour Comcast, élu à la présidence du MAAWG. La
vice-présidence de MAAWG sera assurée cette année par Jonathan Curtis,
architecte sécurité principal, développement technologique chez Bell Canada,
et par Charles Stiles, vice-président de la recherche de clientèle mondiale
pour Goodmail Systems. Laurie Jill Wood, directeur de la sécurité de
l'entreprise chez Charter Communications, conservera le poste de trésorier.
Tous ont déjà participé activement à la promotion de la coopération entre les
FAI et les vendeurs.
Lors de la table ronde sur le réseautage social, M. Newmark à souligné
l'importance de faire confiance aux utilisateurs pour rapporter les abus de
son site ou d'autres sites populaires, thème réitéré par d'autres
participants de Google et de Six Apart. En même temps, Newmark a reconnu la
nécessité d'une collaboration accrue entre les FAI et les sites orientés
réseaux sociaux pour améliorer l'expérience pour tous les utilisateurs.
La table ronde sur le réseautage social était l'une des plus de 25
sessions et réunions de comités organisées pendant l'évènement. Les
discussions entre les FAI et les opérateurs de sites de réseautage social se
poursuivront lors de la 13ème Assemblée générale du MAAWG, du 10 au 12 juin à
Heidelberg, en Allemagne, avec des exposés sur les problèmes essentiels
techniques et de réglementation publique. Vous pouvez obtenir de plus amples
informations sur le site Web du MAAWG à l'adresse http://www.MAAWG.org.
À propos du Groupe de travail contre les abus de messagerie électronique
(MAAWG - Messaging Anti-Abuse Working Group)
Le Groupe de travail contre les abus de messagerie électronique (MAAWG)
rassemble le secteur de la messagerie afin de travailler conjointement contre
le spam, les virus, les attaques de refus de service et autres abus en ligne.
MAAWG (www.MAAWG.org) représente près d'un milliard de boîtes à lettres
électroniques des plus grands opérateurs de réseaux dans le monde. C'est la
seule organisation abordant les abus de la messagerie de manière globale en
prenant en compte systématiquement tous les aspects du problème, notamment la
technologie, la collaboration de l'industrie et la réglementation publique.
Il valorise le potentiel et l'expérience de son effectif international pour
gérer les abus sur les réseaux existants et les nouveaux services émergents.
MAAWG, dont le siège se trouve à San Francisco, en Californie, est un forum
ouvert axé sur les besoins du marché et supporté par les principaux
opérateurs de réseaux et les fournisseurs de messagerie.
Contact médias : Linda Marcus, APR, +1-714-974-6356, lmarcus@astra.cc,
Astra Communications
Conseil d'administration de MAAWG : AOL ; AT&T (NYSE : T) ; Bell Canada ;
Charter Communications (Nasdaq : CHTR) ; Cloudmark ; Comcast
(Nasdaq : CMCSA) ; Cox Communications ; EarthLink (Nasdaq : ELNK) ; France
Telecom (NYSE et Euronext : FTE) ; Goodmail Systems ; Google Inc. ; Openwave
Systems (Nasdaq : OPWV) ; Return Path, Inc. (représentant des membres à part
entière auprès du conseil) ; Time Warner Cable ; Verizon Communications ; et
Yahoo! Inc.
Membres à part entière de MAAWG : 1&1 Internet AG ; AG Interactive ;
Bizanga LTD ; Internet Initiative Japan, (IIJ Nasdaq : IIJI) ; IronPort
Systems ; McAfee Inc. ; MX Logic ; Outblaze LTD ; Return Path, Inc. ;
Sprint ; Sun Microsystems, Inc. ; Symantec ; et Telefonica SA.
Site Web : http://www.maawg.org
Messaging Anti-Abuse Working Group
Linda Marcus, APR, d'Astra Communications, +1-714-974-6356, lmarcus@astra.cc, pour le Groupe de travail contre les abus de messagerie électronique. Photo : NewsCom : http://www.newscom.com/cgi-bin/prnh/20070124/CLW180LOGO, AP Archive : http://photoarchive.ap.org, PRN Photo Desk, photodesk@prnewswire.com
Cellcom Israel Announces a Purported Class Action Filed Against the Company
NETANYA, Israel, March 11 /PRNewswire-FirstCall/ -- Cellcom Israel Ltd. , announced that on March 10, 2008, it was served with a purported class action lawsuit which was filed against the Company, in the District Court of Central Region, by plaintiffs claiming to be subscribers of the Company. The plaintiffs claim that the Company unlawfully charged its subscribers for providing them with call details records.
If the lawsuit is certified as a class action, the total amount claimed from the Company is estimated by the plaintiffs to be approximately NIS 440 million.
At this preliminary stage, the Company is unable to assess the lawsuit's chances of success.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the leading Israeli cellular provider; Cellcom Israel provides its 3 million subscribers with a broad range of value added services including cellular and landline telephony, roaming services for tourists in Israel and for its subscribers abroad and additional services in the areas of music, video, mobile office etc., based on Cellcom Israel's technologically advanced infrastructure. The Company operates an HSPA 3.5 Generation network enabling the fastest high speed content transmission available in the world, in addition to GSM/GPRS/EDGE and TDMA networks. Cellcom Israel offers Israel's broadest and largest customer service infrastructure including telephone customer service centers, retail stores, and service and sale centers, distributed nationwide. Through its broad customer service network Cellcom Israel offers its customers technical support, account information, direct to the door parcel services, internet and fax services, dedicated centers for the hearing impaired, etc. In April 2006 Cellcom Israel, through Cellcom Fixed Line Communications L.P., a limited partnership wholly-owned by Cellcom Israel, became the first cellular operator to be granted a special general license for the provision of landline telephone communication services in Israel, in addition to data communication services. Cellcom Israel's shares are traded both on the New York Stock Exchange (CEL) and the Tel Aviv Stock Exchange (CEL).
For additional information please visit the Company's website http://investors.ircellcom.co.il/
Company Contact
Shiri Israeli
Investor Relations Coordinator
investors@cellcom.co.il
Tel: +972-52-998-9755
Investor Relations Contact
Ehud Helft / Ed Job
CCGK Investor Relations
info@gkir.com / ed.job@ccgir.com
Tel: +1-866-704-6710 / +1-646-213-1914
Cellcom Israel Ltd.
CONTACT: Company Contact: Shiri Israeli, Investor Relations Coordinator, investors@cellcom.co.il, Tel: +972-52-998-9755; Investor Relations Contact, Ehud Helft / Ed Job, CCGK Investor Relations, info@gkir.com / ed.job@ccgir.com, Tel: +1-866-704-6710 / +1-646-213-1914
Global Sources Announces Fourth Quarter and Fiscal Year 2007 Results
2007 Annual Revenue of $182.1 Million and Fourth Quarter Revenue of $60.8
Million, Both Up 16% Compared to Respective Periods in 2006
Reported 2007 GAAP EPS of $0.51 and Non-GAAP EPS of $0.73
NEW YORK, March 11 /Xinhua-PRNewswire-FirstCall/ -- Global Sources Ltd. ( http://www.globalsources.com/ ) reported financial results for the fourth quarter and year ended Dec. 31, 2007.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030303/LNM011LOGO-b )
Global Sources' chairman and CEO, Merle A. Hinrichs, said: "We had a very good year in 2007 financially, and in making investments to establish the foundation for continued success. In 2008 we plan to invest even more heavily in our online and trade show businesses.
"For our export-focused online business, last October we launched Global Sources Online 2.0, offering what we believe is the premier search experience in our industry. In January 2008, we introduced significant additional enhancements with the Six Star ranking system that provides buyers with third party credit check information on all verified suppliers. In January we also rolled out an end-to-end repackaging and repricing of our marketing programs for suppliers.
"We also continue to build on the outstanding success of our China Sourcing Fairs. They address the essential, face-to-face stage of the buying process. Ten new shows are scheduled to be added in 2008 in mainland China, Dubai, Hong Kong and India. To support the investment in our products, we anticipate a substantial increase in our sales representation.
"As we begin 2008, we are extremely pleased with our position in the market, with our products, and with our growth prospects. Our supplier customers typically have three primary objectives: lead generation, branding and differentiation, and opportunities to meet face-to-face with buyers. With our integrated offering of online marketplaces, trade shows and magazines, we address all three objectives, a clear and powerful differentiation from our online competitors who only address the lead generation objective."
Non-GAAP Metrics
Management believes non-GAAP metrics are useful measures of operations and provides GAAP to non-GAAP reconciliation tables at the end of this press release. Effective March 11, 2008, Global Sources defines non-GAAP net income as net income excluding non-cash stock based compensation (SBC) expense or credit, gains or losses on acquisitions and investments, and/or impairment charges, for all historical and future references to non-GAAP metrics. Non- GAAP EPS is defined as non-GAAP net income divided by the weighted average of diluted common shares outstanding.
Highlights: Fourth Quarter 2007 Compared to Fourth Quarter 2006
Revenue was $60.8 million, up 16% from $52.3 million.
-- Online revenue was $20.5 million, up 21% from $16.9 million.
-- Exhibitions revenue was $25.5 million, up 18%.
-- Print revenue was essentially flat at $13.5 million.
-- Revenue from mainland China was $38.6 million, up 28%.
-- Total deferred income and customer prepayments were $83.1 million as at
Dec. 31, 2007, up 30% from $63.8 million as at Dec. 31, 2006.
In accordance with generally accepted accounting principles (GAAP), fourth quarter 2007 net income was $8.1 million, or $0.17 per diluted share, which included:
-- $2.4 million gain from the sale of equity interests in
HC International, Inc.;
-- $3.1 million write-down on the investment in Blue Bamboo; and
-- $3.6 million non-cash stock based compensation expense (SBC) based on
the Dec. 31, 2007 stock price of $28.22.
For the fourth quarter of 2006, GAAP net income was $15.3 million, or $0.33 per diluted share, which included a $7.9 million gain related to the sale of shares of its subsidiary eMedia Asia Ltd. and $1.2 million SBC based upon the Dec. 29, 2006 stock price of $17.78.
For the fourth quarter of 2007, non-GAAP net income was $12.5 million, up 34% when compared to $9.3 million for the fourth quarter of 2006. Fourth quarter 2007 non-GAAP EPS was $0.26, up from $0.20 for the fourth quarter of 2006.
Highlights: Year Ended Dec. 31, 2007
For the fiscal year ended Dec. 31, 2007, revenue was $182.1 million, compared to $156.5 million for the year ended Dec. 31, 2006. GAAP net income for the full year 2007 was $24.0 million, or $0.51 per diluted share, and included:
-- $1.8 million impairment charge on the HC International investment;
-- $2.4 million gain from the sale of equity interests in HC International;
-- $3.1 million write-down on the investment in Blue Bamboo; and
-- $7.8 million SBC based upon stock prices at the end of each quarter.
2006 GAAP net income was $27.9 million, or $0.60 per diluted share. 2007 non-GAAP net income was $34.4 million, up 39% compared to $24.8 million. 2007 Non-GAAP EPS was $0.73, up from $0.53 for 2006.
CFO Eddie Heng said: "Our operational performance and foundation are strong. In 2007, we grew non-GAAP net income by 39% and generated cash from operations of $60.6 million, an increase of 65% as compared to 2006. Our Dec. 31, 2007 cash and securities balance was $197.8 million, and we had no debt."
Financial Expectations: First Half Revenue -- Up 15% to 17%
Revenue for the first quarter 2008 ending March 31, 2008 is expected to be between $39.5 million and $40.0 million, representing a gain of 13% to 15% over first quarter 2007. Based on the stock price of $12.20 on Feb. 29, 2008 compared to the Dec. 31, 2007 stock price of $28.22, SBC for the first quarter of 2008 is estimated to be a credit of $0.04 per diluted share. First quarter 2008 GAAP EPS is expected to be between $0.15 and $0.16. First quarter non- GAAP EPS is expected to be between $0.11 and $0.12, compared to $0.15 per diluted share in the first quarter 2007.
Revenue for the six-month period ending June 30, 2008 is expected to be in the range of $101.0 million to $102.5 million. Compared to $87.5 million for the first six months of 2007, this represents an increase of 15% to 17%. Using the stock price of $12.20 on Feb. 29, 2008, SBC for the quarters ending March 31 and June 30, SBC for the six-month period is estimated to be a credit of $0.02 per diluted share. GAAP EPS for the six-month period is expected to be in the range of $0.32 to $0.34. Non-GAAP EPS for the six-month period is expected to be in the range of $0.30 to $0.32, compared to $0.34 per diluted share for the same period in 2007.
Heng said: "In 2008, online and trade shows are expected to drive our growth, while print is expected to remain soft. We plan to continue investing in five areas related to our online and trade show initiatives: 1) sales representation; 2) IT infrastructure; 3) content development; 4) marketing to suppliers; and 5) marketing to buyers. While this may affect our earnings, we expect these investments to positively impact our growth by 2009."
Recent Corporate Highlights: New Web Sites, Expanded China Sourcing Fairs, and New Programs and Pricing for Suppliers
-- Launched Global Sources Online 2.0 ( http://www.globalsources.com/ ), a
unique new vertical search engine and marketplace, which delivers
comprehensive search results including both verified and unverified
suppliers.
-- Grew lead generation, which is measured as requests for information
from buyers to suppliers through Global Sources Online 2.0, to over
27 million for the 12 months ended Dec. 31, 2007, an increase of over
10 million compared to Dec. 31, 2006.
-- Launched the Six Star Program which enables buyers to evaluate
suppliers based on the amount of third party verification information
provided, and also involves a comprehensive repackaging and repricing
of services for suppliers.
-- Launched a new Chinese-language vertical search engine and online
marketplace called China Global Sources Online
( http://www.globalsources.com.cn/ ) to facilitate domestic B2B trade
within China.
-- Concluded the largest-ever China Sourcing Fairs in October in Hong Kong.
There were approximately 7,520 booths and the shows were profitable for
the first time since their launch in April 2006.
-- The largest-ever International IC-China shows are concluding on
March 11th, with over 1,400 booths, up 37% over 2007. Major expansion
plans also have been announced for 2009 including new locations and
increased frequency.
-- Launched and announced new initiatives for exporters in India: Private
Sourcing Events for Casino, Carrefour, El Corte Ingles, Markant and
Sears, held in February 2008 in New Delhi by the company's sales
representative for India; introduction of the Six Star Program; and the
scheduled launch of India Sourcing Fair: Home Products in Hong Kong in
2009.
-- The first China Sourcing Fairs for the China domestic market were held
in Shanghai in December 2007, and plans were announced for the shows to
also be held in Guangzhou each June.
-- Increased Global Sources' independently certified community of active
buyers to more than 657,000 at the end of the fourth quarter, a 17%
increase compared to the same quarter last year.
-- Announced the authorization of a stock buyback program for up to
$50 million.
-- Announced a one for ten share bonus share issue, which was distributed
on or about Feb. 1, 2008.
Conference Call for Global Sources Fourth Quarter 2007 Earnings
Chairman and CEO, Merle A. Hinrichs, is scheduled to conduct a conference call at 8:00 a.m. ET on March 11, 2008 (8:00 p.m. on March 11, 2008 in Hong Kong) to review these results in more detail. Investors in the United States may participate in the call by dialing (888) 212-8315, and international participants may dial (1-706) 643-0144. Investors in Hong Kong may call (852) 3011-4522. A live webcast of the conference call is scheduled to be available on Global Sources' corporate site at http://www.investor.globalsources.com/ .
For those who cannot listen to the live broadcast, a webcast replay of the call is scheduled to be available on the company's corporate site for at least 30 days. A telephone replay of the call is also scheduled to be available through March 13, 2008. To listen to the telephone replay, dial (800) 642- 1687, or dial (1-706) 645-9291 outside the United States, and enter pass code 31873533#. For those in the Hong Kong area, the replay dial-in number is (852) 3011-4541, and the pass code is 31873533#.
About Global Sources
Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China. The core business is facilitating trade from Greater China to the world, using a wide range of English-language media. The other business segments facilitate trade from the world to Greater China, and trade within China, using Chinese-language media.
The company provides sourcing information to volume buyers and integrated marketing services to suppliers. It helps a community of over 657,000 active buyers source more profitably from complex overseas supply markets. With the goal of providing the most effective ways possible to advertise, market and sell, Global Sources enables suppliers to sell to hard-to-reach buyers in over 230 countries.
The company offers the most extensive range of media and export marketing services in the industries it serves. It delivers information on 2 million products and more than 170,000 suppliers annually through 14 online marketplaces, 13 monthly magazines, over 100 sourcing research reports and 10 specialized trade shows which run 32 times a year across nine cities.
Suppliers receive more than 27 million sales leads annually from buyers through Global Sources Online ( http://www.globalsources.com/ ) alone.
Global Sources has been facilitating global trade for 37 years. Global Sources' network covers more than 69 cities worldwide. In mainland China, Global Sources has over 2,100 team members in more than 44 locations, and a community of over 1 million registered online users and magazine readers for Chinese-language media.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933, as amended and Section 21-E of the Securities Exchange Act of 1934, as amended. The company's actual results could differ materially from those set forth in the forward-looking statements as a result of the risks associated with the company's business, changes in general economic conditions, and changes in the assumptions used in making such forward-looking statements.
-- Tables to Follow --
GLOBAL SOURCES LTD. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In U.S. Dollars Thousands, Except Number of Shares and Per Share Data)
At At
December 31 December 31
2007 2006
(Unaudited)
ASSETS
Current Assets:
Cash and cash equivalents $197,825 $135,093
Available-for-sale securities -- 20,702
Accounts receivable, net 6,665 6,468
Receivables from sales representatives 12,303 13,238
Inventory 1,108 889
Prepaid expenses and other current assets 15,333 14,174
Deferred tax assets 46 --
Total Current Assets 233,280 190,564
Property and equipment, net 35,352 28,374
Long term investments 100 100
Bonds held to maturity, at amortized cost 99 289
Deferred tax assets - long term 196 --
Other assets 2,781 1,562
Total Assets $271,808 $220,889
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts payable $5,577 $6,804
Deferred income and customer prepayments 78,141 62,036
Accrued liabilities 12,546 12,427
Income taxes payable 694 751
Total Current Liabilities 96,958 82,018
Liabilities for incentive and bonus plans -- 102
Deferred income and customer
prepayments - long term 4,934 1,802
Deferred tax liability 283 403
Total Liabilities 102,175 84,325
Minority interest 4,940 2,913
Shareholders' equity:
Common shares, US$0.01 par value;
75,000,000 shares authorized;
46,572,092 (2006: 46,499,492) shares
issued and outstanding 466 465
Additional paid in capital 133,987 125,790
Retained earnings 28,829 4,830
Accumulated other comprehensive income 1,411 2,566
Total Shareholders' Equity 164,693 133,651
Total Liabilities and Shareholders'
Equity $271,808 $220,889
GLOBAL SOURCES LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In U.S. Dollars Thousands, Except Number of Shares and Per Share Data)
Three months ended Year ended
December 31 December 31
2007 2006 2007 2006
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Revenue:
Online and other media
services (Note 1) $33,969 $30,335 $125,818 $113,097
Exhibitions 25,455 21,608 51,608 42,122
Miscellaneous 1,360 361 4,633 1,262
60,784 52,304 182,059 156,481
Operating Expenses:
Sales (Note 2) 20,641 15,451 61,773 50,380
Event production 9,915 9,169 20,155 18,414
Community (Note 2) 9,327 8,231 27,086 24,885
General and
administrative (Note 2) 12,238 10,605 44,167 38,945
Online services
development (Note 2) 1,503 1,145 5,703 4,499
Amortization of software
costs 75 328 193 1,250
Total Operating Expenses 53,699 44,929 159,077 138,373
Income from Operations 7,085 7,375 22,982 18,108
Interest and dividend
income 1,721 1,797 6,595 5,571
Gain on sale of
available-for-sale
securities 2,937 -- 2,937 309
Gain on sale of shares to
minority shareholder and
interest income thereon -- 7,906 -- 7,906
Loss on investment, net -- (743) (1,846) (743)
Impairment of goodwill
and intangible
assets (Note 3) (3,101) -- (3,101) --
Foreign exchange gains
(losses), net (455) (258) (1,213) (714)
Income before Income Taxes 8,187 16,077 26,354 30,437
Income Tax Expense 318 (323) (328) (899)
Net Income before Minority
Interest $8,505 $15,754 $26,026 $29,538
Minority interest (357) (444) (2,027) (1,909)
Net Income before
cumulative effect
of change in
accounting principle $8,148 $15,310 $23,999 $27,629
Cumulative effect of
change in accounting
principle (Note 4) -- -- -- $251
Net Income $8,148 $15,310 $23,999 $27,880
Diluted net income
per share $0.17 $0.33 $0.51 $0.60
Total shares used in
diluted net
income per share
calculations 47,169,292 46,586,590 46,986,861 46,538,312
Note: 1. Online and other media services consists of:
Three months ended Year ended
December 31 December 31
2007 2006 2007 2006
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Online services $20,501 $16,927 $75,919 $64,396
Print services 13,468 13,408 49,899 48,701
$33,969 $30,335 $125,818 $113,097
Note: 2. Non-cash compensation expenses associated with the several
employee equity compensation plans and Directors Purchase Plan
included under various categories of expenses are as follows:
Three months ended Year ended
December 31 December 31
2007 2006 2007 2006
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Sales $2,417 $707 $4,286 $1,790
Community 112 66 269 145
General administrative 919 381 2,875 1,950
Online services development 122 39 347 181
$3,570 $1,193 $7,777 $4,066
Note: 3. Represents the impairment loss recorded on goodwill and
intangible assets associated with the business acquisition of
Blue Bamboo China Ventures.
Note: 4. Represents the cumulative effect of change in accounting
principle, resulting from the adoption of SFAS No. 123(R) with
effect from January 1, 2006.
GLOBAL SOURCES LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In U.S. Dollars Thousands, Except Number of Shares and Per Share Data)
Year ended December 31
2007 2006
(Unaudited)
Cash flows from operating activities:
Net income $23,999 $27,880
Adjustments to reconcile net income to
net cash provided by operating activities
Depreciation and amortization 4,614 4,678
Accretion of U.S. Treasury strips
zero % coupons (15) (26)
Impairment of investment, goodwill
and intangible assets 5,402 --
Profit on sale of equipment (3) (30)
Bad debt expense 444 216
Non-cash compensation expense 7,777 4,066
Income attributable to minority shareholder 2,027 1,909
Gain on sale of shares to minority
shareholder and interest income thereon -- (7,906)
Equipment written off 266 2
Effect of exchange rate changes 825 --
Cumulative effect of change
in accounting principle -- (251)
45,336 30,538
Changes in assets and liabilities:
Accounts receivables (641) (1,139)
Receivables from sales representatives 935 (7,579)
Inventory (219) (23)
Prepaid expenses and other current assets (1,158) (3,589)
Long term assets (1,219) 419
Accounts payable (1,236) 1,320
Accrued liabilities and liabilities for
incentive and bonus plans 17 5,578
Deferred income and customer prepayments 19,237 10,866
Tax liability (419) 313
Net cash provided by operating activities 60,633 36,704
Cash flows from investing activities:
Purchase of property and equipment (11,242) (4,876)
Proceeds from sale of equipment 3 30
Proceeds from matured bonds 205 200
Purchase of intangible assets (3,136) --
Purchase of available-for-sale securities -- (263,463)
Proceeds from sale of
available-for-sale securities 15,834 251,267
Net proceeds from sale of shares to
minority shareholder, interest income
thereon and repurchase of share dividends
from minority shareholder -- 2,719
Net cash used in investing activities 1,664 (14,123)
Cash flows from financing activities:
Amount received towards directors
purchase plan 422 359
Net cash generated from financing activities 422 359
Effect of exchange rate changes on cash
and cash equivalents 13 --
Net increase (decrease) in cash
and cash equivalents 62,719 22,940
Cash and cash equivalents, beginning
of the year 135,093 112,153
Cash and cash equivalents, end
of the year $197,825 $135,093
Supplemental cash flow disclosures:
Income tax Paid $747 $586
GLOBAL SOURCES LTD. AND SUBSIDIARIES
ACTUAL GAAP to NON-GAAP RECONCILIATION
(In U.S. Dollars Thousands, Except Number of Shares and Per Share Data)
Three months ended Three months ended
December 31 December 31
2007 2006
GAAP EPS $0.17 $0.33
GAAP Net Income $8,148 $15,310
Non-cash stock
based compensation
expense / (credit)
(Note 1) 3,570 1,193
Gain on sale of
HC shares (2,361) Note 2 --
Impairment charge
for Blue Bamboo 3,101 Note 3 --
Loss on investment, net -- 743 Note 5
Gain on sale of shares
to minority shareholder
and interest income thereon -- (7,906)Note 6
Non-GAAP Net Income $12,458 $9,340
Non-GAAP diluted
net income per share $0.26 $0.20
Total shares used in
non-GAAP diluted net
income per share
calculations 47,169,292 46,586,590
GLOBAL SOURCES LTD. AND SUBSIDIARIES
CONTINUED ACTUAL GAAP to NON-GAAP RECONCILIATION
(In U.S. Dollars Thousands, Except Number of Shares and Per Share Data)
Year ended Year ended
December 31 December 31
2007 2006
GAAP EPS $0.51 $0.60
GAAP Net Income $23,999 $27,880
Non-cash stock
based compensation
expense / (credit)(Note 1) 7,777 4,066
Gain on sale of
HC shares (2,361) Note 2 --
Impairment charge
for Blue Bamboo 3,101 Note 3 --
Loss on investment, net 1,846 Note 4 743 Note 5
Gain on sale of shares
to minority shareholder
and interest income thereon -- (7,906) Note 6
Non-GAAP Net Income $34,362 $24,783
Non-GAAP diluted net
income per share $0.73 $0.53
Total shares used in
non-GAAP diluted net
income per share
calculations 46,986,861 46,538,312
Notes:
(1) Non-cash stock based compensation expense / (credit).
(2) A gain of approximately $2.4 million arising from the sale of the
shares of HC International.
(3) Impairment charge of approximately $3.1 million recorded by the
company on intangible assets and goodwill pertaining to the
business acquisition of Blue Bamboo China Ventures.
(4) An impairment charge of approximately $2.3 million on the company's
HC International investment, net of $0.5 million received pursuant
to indemnification obligations of the vendor under the purchase
agreement for HC International investment.
(5) An impairment charge of approximately $743,000 on the company's HC
International investment.
(6) A gain of $7.9 million related to the sale of 199 shares of its
subsidiary eMedia Asia Ltd. to minority shareholder and interest
income thereon.
Management believes non-GAAP measures are useful measures and provides GAAP to Non-GAAP reconciliation tables at the end of this press release.
-- Effective March 11, 2008, non-GAAP net income will be defined as net
income excluding non-cash stock based compensation (SBC) expense or
credit, gains or losses on acquisitions and investments and/or
impairment charges.
-- For press releases, presentations, conference calls and other public
references prior to March 11, 2008, the definition of non-GAAP EPS
used includes SBC.
-- Non-GAAP EPS has been and will continue to be defined as non-GAAP
net income divided by the weighted average of diluted common shares
outstanding.
-- Actual SBC is calculated based on the share price of the last day of
the quarter.
-- In 2007, the company estimated SBC using the stock price of
the last day of the prior quarter; for example, using the
September 28th stock price to estimate SBC for the period
ended December 31st.
-- In 2008, the company will estimate SBC using the stock price
approximately 10 days prior to the earnings report press release;
for example, using the February 29th stock price to estimate SBC
for the period ended March 31st.
GLOBAL SOURCES LTD. AND SUBSIDIARIES
GUIDANCE GAAP to NON-GAAP RECONCILIATION
(In U.S. Dollars Million, Except Number of Shares and Per Share Data)
GUIDANCE ACTUAL
Three months Three months
ended March 31 ended March 31
2008 2007
Revenue $39.50 to $40.00 $34.9
GAAP EPS $0.15 to $0.16 $0.14
Non-cash stock
based compensation
expense / (credit)
(Note 1) ($0.04) ($0.04) $0.01
Loss on investment,
net (Note 2) -- -- --
Non-GAAP diluted net
income per share $0.11 to $0.12 $0.15
Total shares used in
non-GAAP diluted
net income per share
calculations 47,319,376 47,319,376 46,647,144
GLOBAL SOURCES LTD. AND SUBSIDIARIES
CONTINUED GUIDANCE GAAP to NON-GAAP RECONCILIATION
(In U.S. Dollars Million, Except Number of Shares and Per Share Data)
GUIDANCE ACTUAL
Six months Six month
ended June 30 ended June 30
2008 2007
Revenue $101.00 to $102.50 $87.5
GAAP EPS $0.32 to $0.34 $0.23
Non-cash
stock based
compensation
expense / (credit)
(Note 1) ($0.02) ($0.02) $0.07
Loss on investment,
net (Note 2) -- -- $0.04
Non-GAAP diluted net
income per share $0.30 to $0.32 $0.34
Total shares used in
non-GAAP diluted
net income per share
calculations 47,437,463 47,437,463 46,843,657
Notes:
(1) Non-cash stock based compensation expense / (credit).
(2) An impairment charge of approximately $2.3 million on the company's
HC International investment, net of $0.5 million received pursuant
to indemnification obligations of the vendor under the purchase
agreement for HC International investment.
Management believes non-GAAP measures are useful measures.
-- Effective March 11, 2008, non-GAAP net income will be defined as net
income excluding non-cash stock based compensation (SBC) expense or
credit, gains or losses on acquisitions and investments and/or
impairment charges.
-- Non-GAAP EPS is defined as non-GAAP net income divided by the
weighted average of diluted common shares outstanding.
-- Actual SBC is calculated based on the share price of the last day of
the quarter.
-- Projected SBC is estimated using the stock price on February 29, 2008
(approximately 10 days prior to the earnings report release). Based
on the stock price of $12.20 on February 29, 2008 compared to the
December 31, 2007 stock price of $28.22. SBC for the first quarter of
2008 is estimated to be a credit of $0.04 per diluted share. Using
the stock price of $12.20 on February 29, 2008 for estimating SBC for
March 31st and June 30th the six-month period is estimated to be
approximately credit of $0.02 per diluted share.
For financial matrix, please visit:
http://xprnnews.xfn.info/GSOL/20080311/HKTU002.pdf
Global Sources Press Contact in Asia:
Camellia So
Tel: +852-2555-5021
Email: cso@globalsources.com
Global Sources Investor Contact in Asia:
Investor Relations Department
Tel: +852-2555-4777
Email: investor@globalsources.com
Global Sources Press Contact in U.S.:
James W.W. Strachan
Tel: +1-480-664-8309
Email: strachan@globalsources.com
Global Sources Investor Contact in U.S.:
Christiane Pelz & Kirsten Chapman
Lippert/Heilshorn & Associates, Inc.
Tel: +1-415-433-3777
Email: investor@globalsources.com
Photo: http://www.newscom.com/cgi-bin/prnh/20030303/LNM011LOGO-b
Global Sources
CONTACT: Press contact in Asia: Camellia So, +852-2555-5021, cso@globalsources.com; Press contact in U.S.: James W.W. Strachan of Global Sources, +1-480-664-8309, strachan@globalsources.com; Investor contact in Asia: IR Department of Global Sources, +852-2555-4777, investor@globalsources.com; Investor contact in U.S.: Kirsten Chapman or Christiane Pelz, both of Lippert- Heilshorn & Associates, Inc., +1-415-433-3777, investor@globalsources.com, for Global Sources
Web Site: http://www.globalsources.com/ http://www.investor.globalsources.com/
ILOG Enables Leading Insurer, Hiscox, to Support Business Growth and New Product DevelopmentHiscox Implements ILOG JRules as Part of Its SOA Infrastructure
BRACKNELL, England, March 11 /PRNewswire-FirstCall/ -- ILOG(R) (Nasdaq: ILOG; Euronext: ILO, ISIN: FR0004042364) today announced that Hiscox, a UK-based leading global insurer, is using ILOG JRules(R), a key offering in ILOG's business rule management system (BRMS) product line, to better support part of the company's growth objectives. ILOG JRules is used as part of its service-oriented architecture (SOA) initiative for a wide range of insurance processes, one of which is new product development. In using ILOG BRMS, Hiscox will be able to easily test and create new insurance products, rates and risk classification tiers much faster.
A FTSE 250 company with offices in thirteen countries and customers around the world, Hiscox is a leader in specialist insurance and covers a wide range of personal and commercial customers that are considered either too complex or risky for more general insurers. Hiscox is Europe's foremost fine art insurer and the world's largest provider of kidnap and ransom insurance by premium income.
When looking to improve their systems, Hiscox had three main objectives. First, Hiscox wanted to be able to add new distribution channels as quickly as possible. Second, the company wanted to reduce the time and cost associated with both making changes to existing products and bringing new products to the market. Finally, Hiscox needed to increase the ability of underwriters and business analysts to make changes to rules directly without having to change complex system logic, allowing the company to improve its business response time.
ILOG's BRMS has been used to enhance a number of in-house IT systems, which were not sufficiently flexible to meet Hiscox's long-term business objectives. Prior to ILOG JRules implementation, it took Hiscox more than six months to launch new products. Soon, business rules will be exposed as decision services and reused across different channels so that regardless of where the transaction comes from, the applicable set of business rules are enforced for greater consistency, transparency and speed. As a result, the time-to-market for new products is expected to dramatically improve, enabling Hiscox to achieve speed-to-market gains of over 50 percent. As far as underwriters are concerned, they will have the ability to manage the rules and rates implemented for each scheme themselves and perform 'what if' scenarios to see the impact of a new rate or risk change on the overall process or book of business. Finally, the BRMS will enable the introduction of Web-based dynamic questioning of customers which means that specific needs can be identified and priced automatically.
"Our aim is to provide a personal service to our customers while also making the most of technology in order to keep costs down," said Alan Millard, Chief Operating Officer at Hiscox. "For us, managing costs is as important as managing risk if we are to remain competitive on premiums. ILOG will allow us to introduce efficiencies into our operations and the rules system provides the necessary flexibility to maintain our unique position."
ILOG has consistently built on its history of product innovation to make it one of the industry's leading providers of business rule management systems. Forrester Research has recognized ILOG as a business rules platform market leader, including the leader in business rules platforms for Java. Customers of ILOG's award-winning BRMS products include Metlife, Nedasco, Barclays Global Investors, Grupo Santander, Samsung Life, AXA Touring Insurance, Visa, Zurich and many other leading Global 2000 companies and governments worldwide. ILOG's business rule management system (BRMS) product line includes ILOG JRules, ILOG Rules for .NET(TM) and Rules (C++)(R)
About ILOG
ILOG delivers software and services that empower customers to make better decisions faster and manage change and complexity. Over 3,000 corporations and more than 465 leading software vendors rely on ILOG's market-leading business rule management system (BRMS), supply chain planning and scheduling applications, and optimization and visualization software components, to achieve dramatic returns on investment, create market-defining products and services, and sharpen their competitive edge. ILOG was founded in 1987 and employs more than 860 people worldwide. For more information, please visit http://www.ilog.com/.
ILOG, ILOG JRules, ILOG Rules for .NET and ILOG Rules (C++) are registered trademarks of ILOG S.A. and ILOG, Inc. All other trademarks are the properties of their respective owners.
ILOG
CONTACT: Monika Raj of ILOG, +1-408-991-7128, mraj@ilog.com
Web site: http://www.ilog.com/
Thomson Scientific Introduces Newport Horizon Premium and Newport Vision PremiumIndustry Leader in Generic Market Information Offers Two New Solutions to Boost Competitive Advantage
PHILADELPHIA and LONDON, March 11 /PRNewswire/ -- Thomson Scientific, part of The Thomson Corporation (NYSE: TOC; TSX: TOC) and leading provider of information solutions to the worldwide research and business communities, today announced the release of Newport Horizon Premium and Newport Vision Premium, designed specifically for professionals working in product selection, business development, competitive intelligence and API (Active Pharmaceutical Ingredient) sourcing. Their use by innovator, generic and OTC pharmaceutical companies and API manufacturers worldwide will enable them to find the most appropriate product development opportunities more quickly, and allow innovators to conduct deeper analysis on emerging generic competition.
Newport Horizon Premium and Newport Vision Premium combine sales, launch, patent, patent challenge, exclusivity, chemistry, prescribing and regulatory information for more than 10,000 molecules, 18,000 companies, 67 markets and 90 patent countries worldwide with unique, early API development and manufacturing intelligence. They build on the substantial success of Horizon Global and Vision CI by adding kilogram and IU (International Units) API consumption data from IMS Health to the data and capabilities already available. This data will now be available for thousands of drugs by region and by dose form for both the current and previous year and will allow customers to evaluate scale, consumption trends and prices for active ingredients, all of which can be difficult to estimate using sales data alone.
"As the industry authority on the global generics market, we recognize the need for authoritative generics market information that will give customers a clear competitive advantage over their competitors," said Claude Basset, vice president, PharmaChem Specialty Markets, Thomson Scientific. "We developed Newport Horizon Premium and Newport Vision Premium to help customers improve productivity, accelerate time to market, and gain that competitive edge in the generics marketplace."
Both new solutions, Newport Horizon Premium and Newport Vision Premium address the needs of large and small players in the pharmaceuticals market and feature powerful multi-criteria search functionalities. Newport Horizon Premium is aimed at helping generic, OTC and API companies in their constant struggle to build deals faster and accelerate time to market. Newport Vision Premium is focused on helping leading pharmaceutical companies evaluate the earliest signs of generic competition for their brands and identify back-up or alternative sources of API supply.
About The Thomson Corporation
The Thomson Corporation (http://www.thomson.com/) is a global leader in providing essential electronic workflow solutions to business and professional customers. With operational headquarters in Stamford, Conn., Thomson provides value-added information, software tools and applications to professionals in the fields of law, tax, accounting, financial services, scientific research and healthcare. The Corporation's common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
Thomson Scientific is a business of The Thomson Corporation. Its information solutions assist professionals at every stage of research and development-from discovery to analysis to product development and distribution. Thomson Scientific information solutions can be found at scientific.thomson.com.
Thomson Scientific
CONTACT: Eoin Bedford, Thomson Scientific, +44 207 433 4691, eoin.bedford@thomson.com
Web site: http://www.scientific.thomson.com/ http://www.thomson.com/
Universal Electronics Inc. Licenses Hillcrest Labs' Freespace Pointing and Motion Control Technology
ROCKVILLE, Md., March 11 /PRNewswire/ -- Hillcrest Labs and Universal Electronics Inc. (UEI), today announced a recently signed license agreement for Hillcrest Labs' patented Freespace(TM) pointing and motion-control technology. Under the agreement, UEI will be exploring potential product concepts to offer pointing and motion-control technology to its customers around the world.
Freespace technology was pioneered by Hillcrest Labs for use in advanced television remote controls such as Hillcrest Labs' iconic concept called the Loop(TM). Freespace technology enables subscription TV service providers and consumer electronics manufacturers to embed advanced motion control and pointing capabilities into a wide range of devices and form factors. These devices can enable advanced digital media applications and services to drive new revenue for service providers and manufacturers.
"As consumer demand for television entertainment and control continues to evolve, we are always seeking new ways to differentiate," said Paul Arling, Chairman and CEO of UEI. "We're pleased to partner with Hillcrest to license Freespace technology and explore innovative ways to help users to more easily interact with their entertainment devices and content."
"As a global leader in the design and manufacture of remote controls, UEI is consistently at the forefront of innovation," said Dan Simpkins, CEO of Hillcrest Labs. "We are very proud that UEI has licensed Freespace technology and is investigating ways to incorporate pointing and motion control in the next generation of remote control technologies. Coupled with our HoME(TM) software platform, Freespace technology enables consumers to browse, discover and interact with digital content on TV in entirely new ways."
Freespace-enabled pointing devices utilize patented digital signal processing algorithms that rely on gravity and other inertial inputs to determine their position in the air. The algorithms translate motion instantaneously, and automatically adjust for natural hand tremors. Unlike older technologies that are based solely on gyroscopes, Freespace-enabled pointing devices work regardless of directional orientation. Also, unlike alternative optical pointing solutions, users do not need to aim the device toward a screen and are, therefore, free to hold the device in whatever position feels most comfortable to them.
For more information about Hillcrest Labs, visit http://www.hillcrestlabs.com/. For more information about UEI, visit http://www.uei.com/.
About Universal Electronics
Founded in 1986, Universal Electronics Inc. (UEI) is the global leader in wireless control technology for the connected home. UEI designs, develops, and delivers innovative solutions that enable consumers to control entertainment devices, digital media, and home systems. The company's broad portfolio of patented technologies and database of infrared control software have been adopted by many Fortune 500 companies in the consumer electronics, subscription broadcast, and computing industries. UEI sells and licenses wireless control products through distributors and retailers under the One For All(R) brand name. UEI also delivers complete home control solutions in the professional custom installation market under the brand name Nevo(R), as well as software solutions for digital media control and enjoyment in the consumer and OEM markets under the brand SimpleCenter(TM).
About Hillcrest Labs
Hillcrest Laboratories (a.k.a. Hillcrest Labs) sells an application creation platform called HoME, which enables consumer electronics manufacturers and service providers to create unique interactive digital media products for TV and other digital media devices. Applications made with HoME are controlled by pointing and provide consumers an intuitive way to browse, discover, and interact with large volumes of digital media. Hillcrest Labs' pointing technology, called Freespace(TM), can be used in a wide range of consumer devices including remote controls, PC mice, and game controllers. The company's iconic reference device is the Loop(TM) -- a pointer-based TV remote that uses just two buttons and a scroll wheel. HoME and Freespace have received numerous awards including the CES Innovations Award and Popular Mechanics' Editors Choice. Based in Rockville, Maryland, Hillcrest Labs was founded in 2001 by Dan Simpkins. The company is funded by NEA, AllianceBernstein, Columbia Capital and Grotech Capital. For additional information, visit http://www.hillcrestlabs.com/.
Hillcrest Labs, Freespace, and the Loop are trademarks of Hillcrest Laboratories, Inc. All other trademarks are the property of their respective owners.
This press release contains forward-looking statements that are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development, ordering, delivery and market acceptance of products and technologies identified in this release; the Company's continued ability to design products in a fashion that results in its technology being accepted by the companies customers and the end users; the continued importance of the Company's database of codes and other technologies; the continued growth in the markets identified in this release to occur as anticipated by management; and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward looking statement due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Hillcrest Labs
CONTACT: Press, Lisa Goodwin of Blanc & Otus Public Relations, +1-415-856-5113, lgoodwin@blancandotus.com, for Universal Electronics Inc.; or Jeremy Pemble, +1-206-381-3600, jeremy@jlmpartners.com, or Sharon Rigbi, +1-206-381-3600, Sharon@jlmpartners.com, both of JLM Partners for Hillcrest Labs
Web site: http://www.hillcrestlabs.com/ http://www.uei.com/
Thomson Scientific Introduces Newport Horizon Premium and Newport Vision Premium
PHILADELPHIA and LONDON, March 11 /PRNewswire/ --
- Industry Leader in Generic Market Information Offers Two New Solutions
to Boost Competitive Advantage
Thomson Scientific, part of The Thomson Corporation (NYSE: TOC; TSX: TOC)
and leading provider of information solutions to the worldwide research and
business communities, today announced the release of Newport Horizon Premium
and Newport Vision Premium, designed specifically for professionals working
in product selection, business development, competitive intelligence and API
(Active Pharmaceutical Ingredient) sourcing. Their use by innovator, generic
and OTC pharmaceutical companies and API manufacturers worldwide will enable
them to find the most appropriate product development opportunities more
quickly, and allow innovators to conduct deeper analysis on emerging generic
competition.
Newport Horizon Premium and Newport Vision Premium combine sales, launch,
patent, patent challenge, exclusivity, chemistry, prescribing and regulatory
information for more than 10,000 molecules, 18,000 companies, 67 markets and
90 patent countries worldwide with unique, early API development and
manufacturing intelligence. They build on the substantial success of Horizon
Global and Vision CI by adding kilogram and IU (International Units) API
consumption data from IMS Health to the data and capabilities already
available. This data will now be available for thousands of drugs by region
and by dose form for both the current and previous year and will allow
customers to evaluate scale, consumption trends and prices for active
ingredients, all of which can be difficult to estimate using sales data
alone.
"As the industry authority on the global generics market, we recognize
the need for authoritative generics market information that will give
customers a clear competitive advantage over their competitors," said Claude
Basset, vice president, PharmaChem Specialty Markets, Thomson Scientific. "We
developed Newport Horizon Premium and Newport Vision Premium to help
customers improve productivity, accelerate time to market, and gain that
competitive edge in the generics marketplace."
Both new solutions, Newport Horizon Premium and Newport Vision Premium
address the needs of large and small players in the pharmaceuticals market
and feature powerful multi-criteria search functionalities. Newport Horizon
Premium is aimed at helping generic, OTC and API companies in their constant
struggle to build deals faster and accelerate time to market. Newport Vision
Premium is focused on helping leading pharmaceutical companies evaluate the
earliest signs of generic competition for their brands and identify back-up
or alternative sources of API supply.
About The Thomson Corporation
The Thomson Corporation (www.thomson.com) is a global leader in providing
essential electronic workflow solutions to business and professional
customers. With operational headquarters in Stamford, Conn., Thomson provides
value-added information, software tools and applications to professionals in
the fields of law, tax, accounting, financial services, scientific research
and healthcare. The Corporation's common shares are listed on the New York
and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
Thomson Scientific is a business of The Thomson Corporation. Its
information solutions assist professionals at every stage of research and
development-from discovery to analysis to product development and
distribution. Thomson Scientific information solutions can be found at
scientific.thomson.com.
Web site: http://www.scientific.thomson.com
http://www.thomson.com
Thomson Scientific
Eoin Bedford, Thomson Scientific, +44-207-433-4691, eoin.bedford@thomson.com
News Archives of March 2008
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
News Archives other dates
2009: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2007: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2006: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec |