Companies news of 2008-03-12 (page 4)
Hughes CEO Awarded World Trade Center Institute's International Leadership AwardKaul...
Level 3 Honored With Excellence Award by Frost & SullivanCompany Receives Frost & Sullivan...
Suntech Prices US$500 Million Convertible Senior Notes
CCID Consulting: Technology Convergence Trends in China's Digital Image Market
EGIL Launches The PC Edge Line of Accessories
Motorola Introduces 802.11n Wireless LAN Switch Enabling the All-Wireless EnterpriseNew...
Motorola Introduces Industry's First Tri-Radio 802.11n Access PointNew Mesh-Enabled...
Oracle Announces New Mobile Interoperability With Nokia DevicesOracle and Nokia Deliver...
CareerBuilder.com Survey Reveals Top Ten Wackiest Mistakes Candidates Made in Job...
Boats.com and YachtWorld.com are 'Ship-Shape' With Salesforce.comSalesforce...
Independent Research Firm Cites BEA Systems as a Leader In Information-As-A-Service Report...
McAfee, Inc. to Present at the Citi Investment Research Small & Mid-Cap Conference
Varian, Inc. to Present at the Lehman Brothers Global Healthcare Conference
Seagate Increases Commitment to Evolving Market NeedsForms New Consumer Solutions Division...
New Chip Scale Packaging for AnalogicTech Converters Offers Portable Systems Designers...
BAXL Technologies Announces New Reseller Partnership in EuropeBAXL Expands European Reach...
finetunes and Qtrax Sign Digital Licensing Agreement
Global Crossing Announces Fourth Quarter and Full Year 2007 Results-- Consolidated revenue...
Investools' Brokerage and Education Metrics for February 2008
Perfect World Launched 'Zi Long's Spear' Expansion Pack for 'Chi Bi' on February 28
China Public Security Technology, Inc. Files Application for NASDAQ Listing
Rainmaker to Present at Sidoti & Company Emerging Growth Investor Conference in New York...
Comarco Announces Leadership TransitionSam Inman, Director, Named Interim President and...
Aladdin eSafe Wins Highest Five-Star Rating From SC MagazineSC Magazine gives Aladdin...
MTV Networks International, Paramount Digital Entertainment and Dickhouse Productions to...
T-Mobile(R) Sidekick(R) Announces Partnership With The Recording Academy(R) to Create the...
The Motley Fool and MSN Money Combine Resources to Create 'Fantasy' Stock ChallengeThe...
Bill Gates Asks Congress to Act Now to Maintain U.S. Innovation LeadIn House testimony,...
Esurance Inks Multi-Year Deal With AutoWatchAuto Insurance Company Experiences Success...
MIPS Technologies Offers Silicon-Proven Hi-Fi Quality Audio IP in Deep Submicron...
Hughes CEO Awarded World Trade Center Institute's International Leadership AwardKaul Recognized for Outstanding Leadership and Creative Strategy in International Business
GERMANTOWN, Md., March 12 /PRNewswire-FirstCall/ -- Pradman Kaul, chairman and CEO of Hughes Network Systems, LLC (HUGHES), will be among several recipients of the 12th Annual International Leadership Award from the World Trade Center Institute during the Annual Leadership Awards ceremony tonight in Baltimore, Md. The coveted award is given to company leaders who have demonstrated exceptional business leadership, determination, and creative strategy in international business.
"Under Kaul's leadership, Hughes' remarkable accomplishments and strong growth record make the company a terrific model for other Maryland firms on the global horizon," said Gary Collins, senior vice president, Bank of America and Chairman of the Leadership Awards Committee. "The 2008 honorees boast great Maryland stories, tremendous success, and impressive growth."
Kaul is among six other recipients honored for their work in taking their companies to new global heights. The winners were selected from a competitive roster of 80 business leaders and voted on by the International Business Leadership Awards Committee.
"I am honored for Hughes to be recognized in this manner and extend my congratulations to the other recipients of this coveted award," said Kaul. "Our employees are the reason for our success, and together we pride ourselves in helping shrink the world's boundaries by bringing reliable satellite communications solutions to international governments and enterprises in over 100 countries across the globe."
Awarded for the past 11 years, the International Business Leadership Award has become widely recognized as one of the most prestigious honors in the Maryland business world.
About the World Trade Center Institute
Established in Baltimore in 1989 to help connect Maryland to the globe, today the World Trade Center Institute is Maryland's premier global business partner. The members and program participants benefit from valuable international business training, global connections, and customized consulting. With extensive global reach via 300 fellow World Trade Centers around the world, the Baltimore center operates as a private, non-profit organization.
About Hughes Network Systems
Hughes Network Systems, LLC (HUGHES) is the global leader in providing broadband satellite networks and services for large enterprises, governments, small businesses, and consumers. HughesNet(R) encompasses all broadband solutions and managed services from Hughes, bridging the best of satellite and terrestrial technologies. Hughes has shipped more than 1.5 million systems to customers in over 100 countries. Its broadband satellite products are based on global standards approved by the TIA, ETSI and ITU standards organizations, including IPoS/DVB-D2, RSM-A, and GMR-1.
Headquartered outside Washington, D.C., in Germantown, Maryland, USA, Hughes maintains sales and support offices worldwide. Hughes is a wholly owned subsidiary of Hughes Communications, Inc. . For additional information, please visit http://www.hughes.com/ .
Hughes and HughesNet are registered trademarks of Hughes Network Systems, LLC.
Hughes Network Systems, LLC
CONTACT: Judy Blake of Hughes Network Systems, +1-301-601-7330, jblake@hns.com; or Donna Armstrong of Brodeur, +1-202-775-2650, darmstrong@brodeur.com, for Hughes Network Systems
Web site: http://www.hughes.com/
Level 3 Honored With Excellence Award by Frost & SullivanCompany Receives Frost & Sullivan 2007 North American Growth Strategy Leadership Award in Carrier Ethernet Services
BROOMFIELD, Colo., March 12 /PRNewswire-FirstCall/ -- Level 3 Communications today announced that it has been awarded the 2007 Frost & Sullivan North American Growth Strategy Leadership Award in Carrier Ethernet Services. Frost & Sullivan presented Level 3 with the award in recognition of the company's ability to foresee the growth potential of Ethernet services beyond the LAN and address this potential by adding capabilities through strategic acquisitions.
"Level 3 has strategically moved away from being branded as a wholesale-only provider and has proven its ability to quickly perceive the market demand for retail Ethernet services and effectively equip itself to meet that demand," said Roopashree Honnachari, senior industry analyst for Frost & Sullivan. "The company has strongly positioned itself as a provider of end-to-end solutions to medium and large business enterprises."
This Frost & Sullivan award is presented each year to the company that has demonstrated an exceptional growth strategy within the industry. Frost & Sullivan noted Level 3's significant growth associated with its Ethernet services portfolio and an acquisition strategy that positions the company to support a wide range of business applications including: Business Continuity/Disaster Recovery, Storage Area Networks and Data Center Connectivity, Supply Chain Communications, WAN Connectivity, Imaging Video and Tele-presence, E-Content/Applications, Secure Internet Access and Voice Communications.
"Level 3 embarked on an aggressive strategy to meet our customers' growing demands for Ethernet services and made Ethernet a primary focus of our service development efforts," said Raouf Abdel, president of Business Markets Group for Level 3. "We are pleased that Frost & Sullivan has recognized our industry leadership in delivering reliable, scalable, high bandwidth, end-to-end solutions to medium and large enterprises. We continue to focus on developing and implementing our Ethernet services strategy and on delivering innovative and cost efficient services to our customers across all our market groups."
Level 3 has focused on Enterprise demand for high-performance Ethernet services as a way to control the customer's communications costs, improve productivity and build resilient communications. Through strategic acquisitions, it has compiled an award winning portfolio of Ethernet offerings that includes Ethernet Private Line, Ethernet Wavelengths, Ethernet Virtual Private Line, Virtual Private LAN Service, Ethernet Internet Access and Ethernet over TDM. These services, coupled with Level 3's extensive North American footprint and comprehensive service level agreements, combine to create a unique value proposition for its customers.
For more information about Frost & Sullivan's Best Practices Awards, visit http://www.awards.frost.com/.
About Level 3 Communications
Level 3 Communications, Inc. , an international communications company, operates one of the largest Internet backbones in the world, connecting more than 180 markets in 20 countries. The company serves a broad range of wholesale, enterprise and content customers with a comprehensive suite of services including: Internet Protocol (IP) services, broadband transport and infrastructure services, colocation services, voice and voice over IP services, and content delivery and media distribution services. These services provide the building blocks to enable Level 3's customers to meet their growing demands for advanced communications solutions. The company's Web address is http://www.level3.com/.
Level 3 Communications, Level 3, the red 3D brackets and the Level 3 Communications logo are registered service marks of Level 3 Communications, LLC and/or its affiliates in the United States and/or other countries. Level 3 services are provided by wholly owned subsidiaries of Level 3 Communications, Inc. Any other service, product or company names recited herein are trademarks or service marks of their respective owners.
Forward-Looking Statement
Some of the statements made in this press release are forward looking in nature. These statements are based on management's current expectations or beliefs. These forward looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside Level 3's control, which could cause actual events to differ materially from those expressed or implied by the statements. The most important factors that could prevent Level 3 from achieving its stated goals include, but are not limited to the company's ability to: successfully integrate acquisitions; increase the volume of traffic on the network; defend intellectual property and proprietary rights; develop new products and services that meet customer demands and generate acceptable margins; successfully complete commercial testing of new technology and information systems to support new products and services; attract and retain qualified management and other personnel; and meet all of the terms and conditions of debt obligations. Additional information concerning these and other important factors can be found within Level 3's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors. Level 3 is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
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Level 3 Communications, Inc.
CONTACT: media, Jennifer Daumler, +1-720-888-3356, or Debra Havins, +1-720-888-7466, or investors, Valerie Finberg, +1-720-888-2501, or Mark Stoutenberg, +1-720-888-2518, all of Level 3 Communications, Inc.
Web site: http://www.level3.com/
Suntech Prices US$500 Million Convertible Senior Notes
WUXI, China, March 12 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd. announced today the pricing of US$500 million of 3.00% Convertible Senior Notes due 2013 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Suntech also granted the initial purchasers a 30-day option to purchase up to an additional US$75 million of the notes to cover over-allotments, if any. The notes will pay cash interest semiannually at a rate of 3.00 percent per annum and in certain circumstances, will be convertible into cash, American depositary shares ("ADSs") representing Suntech's ordinary shares, or a combination of cash and ADSs, at Suntech's election. The initial conversion rate, subject to adjustment, is 24.3153 ADSs per US$1,000 principal amount of notes (which represents an initial conversion price of approximately US$41.13 per ADS). The sale of the notes is expected to close on March 17, 2008.
Suntech currently expects to use approximately US$300 million of the net proceeds from the offering of the notes for procuring upstream supplies and the balance for production capacity expansion and new technology commercialization. Suntech will use any additional net proceeds received from the initial purchasers' exercise of their option to purchase additional notes, if any, for general corporate purposes and for potential acquisitions of, or investments in, businesses and technologies that it believes will complement its current operations and its expansion strategies.
The convertible senior notes and Suntech's ordinary shares represented by the ADSs, if any, issuable upon conversion of the notes have not been registered under the Securities Act or the securities laws of any other jurisdiction. Suntech will file a shelf registration statement for resale of the notes and Suntech's ordinary shares represented by the ADSs, if any, issuable upon conversion of the notes and use its reasonable best efforts to cause such registration statement to become effective under the Securities Act by the 180th day after the notes are issued. Unless they are registered, these notes may be offered or sold only in transactions that are exempt from registration under the Securities Act and the securities laws of any other jurisdiction.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the notes will be made only by means of a private offering memorandum.
Forward-looking Statements
This press release contains forward-looking statements. The matters discussed herein, including Suntech's intention to complete the notes offering, are based on current management expectations. Completion of the proposed notes offering is subject to market conditions and other factors.
For more information, please contact:
In China:
Rory Macpherson
Investor Relations Manager
Suntech Power Holdings Co., Ltd.
Tel: +86-510-8531-8922
Email: rory@suntech-power.com
In the United States:
Sanjay M. Hurry
Vice President
The Piacente Group, Inc.
Tel: +1-212-481-2050
Email: suntech@tpg-ir.com
Suntech Power Holdings Co., Ltd.
CONTACT: In China: Rory Macpherson, Investor Relations Manager of Suntech Power Holdings Co., Ltd., +86-510-8531-8922, or rory@suntech-power.com; Or In the United States: Sanjay M. Hurry, Vice President of The Piacente Group, Inc., +1-212-481-2050, or suntech@tpg-ir.com, for STP
CCID Consulting: Technology Convergence Trends in China's Digital Image Market
BEIJING, March 12 /Xinhua-PRNewswire/ -- CCID Consulting, China's leading research, consulting and IT outsourcing service provider, and the first Chinese consulting firm listed in Hong Kong (Hong Kong Stock Exchange: HK08235), recently released its 2007-2008 Annual Report on China's Digital Image (DC and DV) Market.
In 2007, China's DC market maintained rapid growth, with sales volume of 8.552 million sets, up 32.8% over 2006. Sales volume of China's DV market reached 1.221 million sets, up 0.7% over 2006. However, the annual growth rate in 2007 was lower than that in 2006. According to CCID Consulting, market potential have not been fully exploited in 2007, and that DC's substitute function is limited by high price. In general, consumers' acceptance degree to DC is limited.
Table 1: The sales volume and growth rate of China's digital camera
market, 2005-2007
Year 2005 2006 2007
Sales Volume (10,000 sets) 449.5 644.2 855.2
Growth Rate of Sales Volume 65.9% 43.3% 32.8%
Sales Revenue (in a hundred
million Yuan) 103.43 137.2 179.2
Growth Rate of Sales
Revenue 58.6% 32.7% 30.6%
Source: Jan. 2008, CCID Consulting
Table 2: The sales volume and growth rate of China's digital video,
2005-2007
Year 2005 2006 2007
Sales Volume (10,000 sets) 103.8 121.3 122.1
Growth Rate of Sales Volume 29.6% 16.9% 0.7%
Sales Revenue (in a hundred
million Yuan) 48.6 55.4 53.7
Growth Rate of Sales
Revenue 24.3% 14.0% -3.1%
Source: Jan. 2008, CCID Consulting
Present Status
I. Anti-shake function becomes a standard; face recognition gaining consumers' attention
"Anti-shake" is now seen as one of DC's necessary functions. From electric anti-shake to optical anti-shake, from single anti-shake to multi-technology anti-shake, DC's anti-shake technology gradually matured in 2007. "Face recognition" entered into spotlight, with several 2007 debuts by major manufacturers capturing consumers' attention.
II. DC product line-up
In 2007, the main stream products were 7-7.99 megapixels with a market share of 38.3%. In the second half of 2007, 8 megapixels products gradually picked up more attention. In the field of SLRs, ten megapixels products became increasingly popular.
III. SLR products polarized
SLR products are developing into opposite directions -- entry level and professional level, with more manufacturers cultivating entry level SLR market. Adjustments in price has also driven up consumer demand in SLR entry- level products, which are increasingly becoming a competition ground for major enterprises.
IV. Regional differences
In terms of regional distribution, North China, East China and South China account for a large proportion of China's digital image market. However, with the growing popularity of DCs, demands are moving towards a more balanced trend.
V. Rise of HDD Videos
HDD Videos are becoming increasingly popular and played an important role in digital image market in 2007. The market enters into HDD Video era, with DV market transfering from standard definition to high-definition.
Future trends
I. Convergence of DC and DV. With the development of technologies and the market, the products with high resolution photograph and high resolution video recording functions will become the mainstream of the digital image market.
II. High definition products will become the highlight in the next two years. In 2007, many digital cameras began to turn themselves from video shooting to high definition video shooting, represented by SONY W200, KODAK Z1275 and CASIO Z1200. In digital video field, dating back in the year 2003, four companies including SONY, CANON, SHARP and JVC jointly declared HDV standard, setting the development direction of high definition digital videos, followed by product developments.
III. High speed CMOS picture processors will possibly surpass CCD. Advancements in technology, including stronger picture processors, faster ADCs and image transmission's wireless connection NAND flash memory and image sensor with high resolution have driven product standards up. SONY and CANON are both investing heavily to strengthen their COMS product lines, targeting at an increase in production capability by millions each year. Not only DSLRs, but also minitype domestic camera will be equipped with CMOS in the near future. The increasing combination of CMOS and digital videos will drive development of digital video market.
IV. In the field of digital videos and DSLRs, Chinese consumers are highly sensitive in prices. Thus, competition in Chinese market will concentrate in low- and middle-end products and vendors should invest more in this field.
V. The prices of entry level digital DSLRs are still low. Apart from highly professional models, more and more vendors now pay attention on brand- new DSLRs in low prices.
VI. Digital videos are becoming increasingly common as prices become more affordable, while offering more functions and with better performances. It is likely that digital products vendors will continuously perform the low-price strategy, offering products that are more easily reached by ordinary consumers.
Figure 1: Forecast on sales volume and growth rate of China's digital camera market, 2008-2012
http://www.ccidconsulting.com/upload/12726.JPG
Source: Jan. 2008, CCID Consulting
Figure 2: Forecast on sales volume and growth rate of China's digital video market, 2008-2012
http://www.ccidconsulting.com/upload/12727.JPG
Source: Jan. 2008, CCID Consulting
About CCID Consulting
CCID Consulting Co., Ltd. (hereinafter known as "CCID Consulting"), the first Chinese consulting firm listed in the Growth Enterprise Market of the Stock Exchange (GEM) of Hong Kong (stock code: HK08235), is directly affiliated to the China Center for Information Industry Development (hereinafter known as "CCID Group"). Headquartered in Beijing, CCID Consulting has set up branch offices in Shanghai, Guangzhou, Shenzhen, and Harbin, with over 300 professional consultants and industry experts. The company's business covers over 200 large and medium-sized cities in China. Apart from home market development, CCID Consulting establishes international cooperation links across the United States, the Asia-Pacific region and Europe with agents in the U.S., Japan, South Korea, Australia, Singapore, Italy and Russia, with the aim of going global.
Based on four major competitive areas: powerful data channels, industrial resources, intense knowledge and a deep understanding of information technology, CCID Consulting provides customers with consulting, research and IT outsourcing services covering strategic planning, IT applications, marketing strategies, human resources and information technology outsourcing. Customers range from industrial IT users, telecommunications companies, energy companies, finance companies, and automobile companies, to government departments at all levels and diversified industrial parks. CCID Consulting commits itself to be the number 1 consultant in strategy consulting, the number 1 advisor for enterprise management and the number 1 consultant for government decision-making.
For more information, please contact:
Cynthia Liu
Coordinating Manager
CCID Consulting Co., Ltd.
Tel: +86-10-8855-9080
Email: liuyan@ccidconsulting.com
CCID Consulting Co., Ltd.
CONTACT: Cynthia Liu of CCID Consulting Co., Ltd., +86-10-8855-9080, or liuyan@ccidconsulting.com
Web site: http://en.ccidconsulting.com/
EGIL Launches The PC Edge Line of Accessories
LAUDERDALE BY THE SEA, Fla., March 12 /PRNewswire-FirstCall/ -- Edgetech International, Inc. (together with its wholly-owned subsidiary, "Edgetech" or the "Company") is pleased to announce that the Company has received shipment for the first line of The PC Edge accessories. The PC Edge line of accessories includes a leather case with a belt clip and a plastic cover to protect the screen. The line also includes a car charger which supports The PC Edge as a mobile computing device. Both accessories are available for purchase at our website http://www.thepcedge.com/, our retail partner locations, as well as our Fulfillment Center at 1-866-439-EDGE (3343). Both the leather case and car charger retails for $19.99.
"The PC Edge" is a robust, handheld wireless internet access device which delivers High Speed Internet Access, displaying full content HTML, web pages, graphics and java script. "The PC Edge" offers a full desktop web experience, together with a larger functional keyboard than competitive products.
Edgetech Vice President of Sales, Keith R. Jones, stated," We are very excited to offer these new products to our customers. This line of accessories not only enhances the customer experience but also generates revenue for the company. We are looking forward to adding additional content and products to The PC Edge Line."
About Edgetech International:
We are an authorized distributor of "The PC Edge". "The PC Edge" is a robust, handheld wireless internet access device which delivers High Speed Internet Access, displaying full content HTML, web pages, graphics and java script. "The PC Edge" offers a full desktop web experience, together with a larger functional keyboard than competitive products.
The Company's executive office facility is located at 218 E. Commercial Blvd., Suite 208 I, Lauderdale by the Sea, Florida 33308. Its telephone number is 954-772-7782 and its website address is http://www.thepcedge.com/.
Except for historical information, the matters discussed in this press release are "forward looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are subject to risks and uncertainties that could cause actual results to be materially different from historical results or from any results expressed or implied by such forward looking statements. Any forward looking statements speak only as of the date on which such statement is made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward looking statements, whether as result of new information, future events or otherwise. Factors that could cause such results to differ materially from the results discussed in such forward looking statements include, without limitation: uncertain continued ability to meet our operational needs in view of continued severe ongoing working capital constraints; need for substantial additional capital to fully implement our plan of operations; no assurances of and uncertainty of profitability; no assurances of the Company's ability to effect sufficient product sales so as to maintain exclusivity in certain territorial markets, the result of which could materially adversely effect the Company's results of operations; need for additional management, sales and marketing personnel, which is contingent upon our receipt of additional capital; competition from companies having substantially great financial, marketing and other resources than the Company, including name and brand recognition; the impact of competitive services and pricing; changing consumer tastes and trends; and the legal, auditing and administrative cost of compliance associated with the Sarbanes Oxley Act. Many of such risk factors are beyond the Company's control. New factors emerge from time to time and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business of the Company or the extent to which any factor, or combination of factors may cause actual results to differ materially from those contained in any forward looking statements. In light of these risks and uncertainties, there can be no assurance that the results anticipated in these forward looking statements will in fact occur. The Company undertakes no obligation to update any such forward looking statements.
Edgetech International, Inc.
CONTACT: Gabriel Goldfine of Southeastern Financial Holdings LLC, +1-786-629-0334; or Keith R. Jones, Vice President of Sales of Edgetech International, Inc., +1-954-772-7782
Web site: http://www.thepcedge.com/
Motorola Introduces 802.11n Wireless LAN Switch Enabling the All-Wireless EnterpriseNew RFS6000 Solution Mobilizes Mid-Sized Enterprises at a Fraction of the Cost of Wired Equivalents
SAN JOSE, Calif., March 12 /PRNewswire-FirstCall/ -- The Enterprise Mobility business of Motorola, Inc. today announced its Motorola RFS6000, the latest addition to a family of high-performance multi-core processor-based wireless LAN (WLAN) switches, targeted at mid-sized enterprises. The RFS6000 supports an all-wireless enterprise vision, enabling businesses to build an enterprise WLAN that serves the entire organization from workers in corporate headquarters to manufacturing and distribution plants to remote branch offices.
With the industry's leading installed base of more than 125,000 WLAN switches, Motorola has the market's most thoroughly tested WLAN offering. The addition of the RFS6000 and mesh-enabled adaptive 802.11a/b/g/n access points (APs) gives Motorola the industry's most complete indoor and outdoor WLAN portfolio to enable a truly wireless enterprise.
"We expect more than 75 percent of enterprise end-point devices to be wirelessly connected to the company network within four to five years," says Jack Gold, President, J.Gold Associates. "This will include not only data-centric devices, but voice and collaboration-centric devices as well, many with multiple wireless communication options seamlessly available to the user."
Based on the Wireless Next Generation (Wi-NG) architecture this network-in-a-box solution is the industry's first wireless switch to include the combination of eight high-power PoE ports for 802.11n; a PCI express slot for wireless WAN backhaul 3G/4G services such as EVDO, HSDPA and WiMAX; and a PCI expansion slot for services such as IP PBX. The RFS6000 supports up to 48 802.11a/b/g/n APs and is capable of providing Wi-Fi coverage for up to 2,000 users. The RFS6000 also provides significant cost savings compared to wired Ethernet networks by completely eliminating the need to run separate voice and data cables to each user within the enterprise.
The RFS6000 offers enterprise-class security with integrated 802.1x, WPA/WPA2, stateful inspection firewall, VPN, AAA server and NAC support. The wireless switch is also PCI and HIPAA compliance-capable out-of-the-box.
"Mid-size organizations face difficulties in deploying a robust wireless infrastructure that can be managed effectively," continued Gold. "What they need are products that contain many of the features such as backhaul connection redundancy, embedded firewall and VPN, security and management capability of higher end systems targeted at large enterprises, but at a price geared to their needs."
The RFS6000 also offers a high level of network resilience with mesh, adaptive technology and switch clustering capabilities that enable business-critical wireless. RFS6000-based wireless networks can offer end-to-end resilience at a much lower cost than wired equivalents. In addition, wireless networks have the added benefit of enabling applications such as asset tracking, fixed mobile convergence (FMC) and location-based security to unleash the next level of mobility within the enterprise.
"With the RFS6000, adaptive APs, enterprise mesh and outdoors wireless offerings we are the only company in the industry with a complete portfolio to help enterprises truly realize the vision of a secure and reliable wireless enterprise inside and out," said Sujai Hajela, vice president and general manager of Enterprise WLAN, Motorola Enterprise Mobility business.
Use of Voice over WLAN is also growing within enterprises with the arrival of Wi-Fi phones and inexpensive VoIP services. The RFS6000 wireless switch supports toll quality voice over WLAN with Quality of Service (QoS) and Wi-Fi Multimedia Extensions and seamless roaming across Layer 3 boundaries both inside and outside helping to ensure superior performance for voice and multimedia applications.
Enterprise WLAN is part of Motorola's portfolio of innovative wireless broadband solutions and services that complement and complete IP networks. Delivering IP coverage to virtually all spaces both indoors and outdoors, the portfolio includes fixed broadband, mesh, broadband over powerline, WiMAX and Enterprise WLAN solutions for private and public networks.
To learn more about Motorola's Enterprise Mobility Business, please visit http://www.motorola.com/Enterprise/WirelessLAN/RFS6000
About Motorola
Motorola is known around the world for innovation in communications. The company develops technologies, products and services that make mobile experiences possible. Our portfolio includes communications infrastructure, enterprise mobility solutions, digital set-tops, cable modems, mobile devices and Bluetooth accessories. Motorola is committed to delivering next generation communication solutions to people, businesses and governments. A Fortune 100 company with global presence and impact, Motorola had sales of US $36.6 billion in 2007. For more information about our company, our people and our innovations, please visit http://www.motorola.com/.
MOTOROLA and the stylized M Logo are registered in the US Patent & Trademark Office. All other product or service names are the property of their respective owners. (C) Motorola, Inc. 2008. All rights reserved.
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Motorola, Inc.
CONTACT: Bill Abelson of Motorola Enterprise Mobility business, +1-631-738-4751, bill.abelson@motorola.com
Web site: http://www.motorola.com/
Motorola Introduces Industry's First Tri-Radio 802.11n Access PointNew Mesh-Enabled AP-7131 Access Point Enables All-Wireless Enterprise
SAN JOSE, Calif., March 12 /PRNewswire-FirstCall/ -- The Enterprise Mobility business of Motorola, Inc. today announced its AP-7131, the industry's first tri-radio 802.11n access point (AP) featuring Motorola's new adaptive AP architecture. The unique tri-radio design integrates three 802.11n radios that simultaneously support high-speed client access, mesh backhaul and dedicated dual-band intrusion protection for enabling the all-wireless enterprise. Using an expansion slot, the third radio can be field upgraded to enable next-generation 3G/4G technologies like WiMAX for primary or redundant WAN connectivity.
Motorola and Moonblink Communications, a partner providing Wi-Fi, WiMAX, and other broadband wireless solutions, also announced today that San Marino Unified School District will be the first customer worldwide that will combine an 802.11n WLAN deployment using the new AP-7131 along with Motorola's award-winning Point-to-Point (PTP) solutions to connect four school campuses -- delivering an end-to-end wireless network.
In a new enterprise wireless LAN (WLAN) survey commissioned by Motorola(1), the research results of more than 550 enterprise WLAN decision-makers found that nearly four out of 10 respondents are planning to deploy 802.11n technology in the next 12 months. More importantly, the number of enterprises planning to use WLANs as their primary network will more than double in the next 12 months, growing from 8 to 17 percent. Gartner predicts that "by year-end 2011, 70 percent of all new worldwide voice and data client-to-LAN connections will be wireless."(2)
"We're thrilled to be deploying Motorola's new AP-7131 802.11n access points," said Stephen Choi, director of technology, San Marino Unified School District. "In evaluating vendors for WLAN, only Motorola provided an end-to-end wireless solution with the advantage of smart adaptability and mesh that met our evolving needs. We are looking forward to providing students and faculty with a fast, reliable wireless network that allows us to meet our educational goals."
Motorola's new AP-7131 access point has been engineered for flexibility and ease-of-use for wireless enterprise deployments. It can be used as a stand-alone AP within small to medium businesses. In adaptive mode, the AP-7131 combines the benefits of central management and site-survivability to help reduce the complexity of deployments in remote offices. In a campus WLAN switch environment using the thin AP mode, the AP-7131 can be centrally managed for large scale deployments. This unique multi-mode operation is supported by the same firmware version to greatly simplify the task of building a large scale multi-site wireless enterprise.
"The mesh-enabled AP-7131 provides the security and performance that enterprises require at a fraction of the cost of wired networks and realizes the long promised vision of the wireless enterprise," said Sujai Hajela, vice president and general manager of Enterprise WLAN, Motorola Enterprise Mobility business. "Leveraging the industry's first tri-radio 802.11n AP, users will be able to unleash the full-potential of 802.11n for superior performance of data, video and voice applications along with mesh backhaul and security on the network."
The AP-7131 provides 24/7 intrusion protection, which can significantly lower the cost of building a secure wireless enterprise. Traditional solutions time-slice the radio for both access and intrusion protection, limiting 802.11n performance and security capabilities. Motorola's new AP-7131 with the third radio eliminates the need for time-slicing or the need for a dedicated sensor AP for security thus reducing the cost of secure and manageable deployments. Featuring a fully Dynamic Frequency Selection (DFS2)-compliant chipset, a fast MIPS network processor with hardware-accelerated encryption and dual Gigabit Ethernet interfaces, the AP-7131 delivers full 600Mbps connection speeds, while simultaneously providing enterprise-class security.
To help customers with AP-7131 802.11n network rollouts, Motorola will launch its industry leading LANPlanner tool with 802.11n capability in the second quarter of 2008. The LANPlanner will allow customers to view 802.11n AP placements along with AP-7131 MIMO performance maps for the first time. In addition, an Automated Migration Wizard will greatly simplify migration to 802.11n by allowing businesses to specify migration paths, view mixed network coverage and determine the exact number of AP-7131 AP's required in the final network design.
Motorola's AP-7131 also includes an innovative industrial design that allows the same AP to work in both carpeted areas and industrial environments by attaching an aesthetically appealing "snap-on facade" with integrated antenna elements. The AP-7131, designed by renowned Italian designers Giugiaro Design, delivers an elegantly fashioned MIMO AP suitable for installation in hospitality and carpeted office environments.
Enterprise WLAN is part of Motorola's portfolio of innovative wireless broadband solutions and services that complement and complete Internet Protocol (IP) networks. Delivering IP coverage to virtually all spaces both indoors and outdoors, the portfolio includes fixed broadband, mesh, broadband over powerline, WiMAX and Enterprise WLAN solutions for private and public networks.
To learn more about Motorola's AP-7131 access point, please visit http://www.motorola.com/AP7131
(1) "E-WLAN Market Monitor Report" CWMP/eRewards Market Research, February
2008
(2) "Predicts 2008: Mobile and Wireless Set New Directions in Devices and
Networking," Gartner, 17 December 2007, by Ken Dulaney, David Willis
et al
About Motorola
Motorola is known around the world for innovation in communications. The company develops technologies, products and services that make mobile experiences possible. Our portfolio includes communications infrastructure, enterprise mobility solutions, digital set-tops, cable modems, mobile devices and Bluetooth accessories. Motorola is committed to delivering next generation communication solutions to people, businesses and governments. A Fortune 100 company with global presence and impact, Motorola had sales of US $36.6 billion in 2007. For more information about our company, our people and our innovations, please visit http://www.motorola.com/.
MOTOROLA and the stylized M Logo are registered in the US Patent & Trademark Office. All other product or service names are the property of their respective owners. (C) Motorola, Inc. 2008. All rights reserved.
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Motorola, Inc.
CONTACT: Bill Abelson of Motorola Enterprise Mobility business, +1-631-738-4751, bill.abelson@motorola.com
Web site: http://www.motorola.com/
Oracle Announces New Mobile Interoperability With Nokia DevicesOracle and Nokia Deliver Unrivalled Support and Capabilities for Oracle Mobile End-users and Developers
REDWOOD SHORES, Calif., March 12 /PRNewswire-FirstCall/ -- Oracle today announced new mobile interoperability with Nokia devices and technology, as a result of the ongoing cooperation and co-development between the two companies. Oracle has validated the Nokia Intellisync Device Management solution working with Oracle's Siebel CRM platform, Oracle(R) Database Lite is now available on Symbian Version 9/S60 Version 3 enabling enterprises to mobilize their applications using Nokia devices and Siebel Wireless is now available on the Nokia E90 Communicator, an Eseries device designed for enterprise users.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO)
Since 2003 Oracle and Nokia have leveraged their leadership positions to accelerate the adoption of mobile technology into the enterprise. IT organizations gain maximum benefits from the ability to develop, implement, and manage their mobile applications in a secure and efficient manner, enabling cost savings, increased operational efficiency, and higher customer satisfaction.
Validation of Nokia Intellisync Device Management with the Siebel CRM
Nokia Intellisync Device Management complements deployments of Siebel Wireless and Siebel Handheld mobile applications with advanced device management functionalities such as device configuration, application management including over the air provisioning, asset collection, help desk, theft-loss protection and recovery. In addition to these features, validation of Nokia Intellisync Device Management solution with Siebel Handheld applications enables mobile users to reduce expenses and save time through features allowing them to easily create new users, send and accept new device management profiles, set up GPRS/EDGE network settings and push out URLs to Siebel Wireless that aide in updates or locking out, or wiping devices as needed.
Oracle Database Lite now supports Symbian 9 (S60 v3)
The new Oracle Database Lite now supports Symbian 9 (S60 v3). With Oracle Database Lite, mobile devices can operate in occasionally-connected environments, periodically synchronizing with back-end database servers. Oracle Database Lite also provides centralized application, user and device provisioning, as well as management and mobile application tools, enabling developers to build the latest mobile enterprise applications for the leading mobile platform.
Oracle Siebel Wireless on Nokia E90 Communicator
The Nokia E90 Communicator, developed for the world's leading smartphone platform S60, includes the benefits of a laptop in a pocket-size device. By supporting the S60 Open Source Software (OSS) browser, Siebel Wireless is available on the Nokia E90. Nokia E90 Communicator provides mobile workers with ubiquitous enterprise users access to Siebel Sales Wireless, Siebel Field Service Wireless, Siebel Partner Relationship Management Wireless and Siebel eService Wireless, providing them maximum flexibility for viewing and editing CRM data.
"Over the past five years, Oracle and Nokia have worked together for one common goal -- to achieve seamless interoperability between our products and enable developers and end-users to gain the greatest potential from the use of Oracle and Nokia technologies together," said Anthony Lye, Senior Vice President of CRM Development at Oracle. "Our latest support and capabilities for Siebel CRM Mobile with Nokia technologies and devices helps customers realize further usability, efficiencies, and freedom."
"Our collaboration with Oracle has been to meet the demands of enterprises -- making these developments beneficial not only for enterprise customers and end-users, but for the entire mobile industry," said Clyde Foster, Vice President, Software & Services, Nokia. "Nokia Intellisync Device Management is a strategic platform for enterprises and service providers to manage mobility, and I am pleased to say that integrating Siebel Handheld applications brings clear benefits to enterprises."
About Nokia
Nokia is the world leader in mobility, driving the transformation and growth of the converging Internet and communications industries. Nokia makes a wide range of mobile devices and provides people with experiences in music, navigation, video, television, imaging, games and business mobility through these devices. Nokia also provides equipment, solutions and services for communications networks.
About Oracle
Oracle is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com/.
Trademarks
Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.
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Oracle
CONTACT: Susie Penner of Oracle, +1-650-506-1973, susanne.penner@oracle.com; or Aaron Wessels of Blanc and Otus, +1-415-378-8090, awessels@blancandotus.com, for Oracle
Web site: http://www.oracle.com/
CareerBuilder.com Survey Reveals Top Ten Wackiest Mistakes Candidates Made in Job Interviews
CHICAGO, March 12 /PRNewswire-FirstCall/ -- What's the most unusual thing a candidate did in a job interview? Fall asleep? Disappear? Bring his/her mom? CareerBuilder.com released its annual survey of the most outrageous interview mistakes candidates have made, according to over 3,000 hiring managers and HR professionals nationwide. This year's Top Ten list includes:
-- Candidate answered cell phone and asked the interviewer to leave her
own office because it was a "private" conversation.
-- Candidate told the interviewer he wouldn't be able to stay with the job
long because he thought he might get an inheritance if his uncle died
-- and his uncle wasn't "looking too good."
-- Candidate asked the interviewer for a ride home after the interview.
-- Candidate smelled his armpits on the way to the interview room.
-- Candidate said she could not provide a writing sample because all of
her writing had been for the CIA and it was "classified."
-- Candidate told the interviewer he was fired for beating up his last
boss.
-- When applicant was offered food before the interview, he declined
saying he didn't want to line his stomach with grease before going out
drinking.
-- A candidate for an accounting position said she was a "people person"
not a "numbers person."
-- Candidate flushed the toilet while talking to interviewer during phone
interview.
-- Candidate took out a hair brush and brushed her hair.
In addition to the most unusual blunders, employers were also asked about the most common and detrimental mistakes candidates have made during an interview. More than half (51 percent) of hiring managers cited dressing inappropriately as the most detrimental mistake a candidate can make in an interview. Speaking negatively about a current or previous employer came in second at 49 percent and appearing disinterested ranked third at 48 percent. Other mistakes included appearing arrogant (44 percent), not providing specific answers (30 percent) and not asking good questions (29 percent).
"Interviews give employers a window into what it's really like to work with a candidate -- how they react under pressure, what motivates them and how they interact with others," said Rosemary Haefner, vice-president of Human Resources for CareerBuilder.com. "If a candidate is overly negative, plays the blame game, is easily frazzled or doesn't come prepared, it usually sends up a red flag for employers. Be knowledgeable about the company, rehearse answers to potential questions and always maintain a professional manner."
Haefner offers the following tips for successful interviews:
-- Do your homework: Nothing says "I'm not that interested in this job"
like someone who has done no research and knows little about a company.
It's easier than ever to find information about a company and its
activities -- candidates who don't could be perceived as lazy,
unmotivated or disinterested.
-- Don't get too personal: The last thing an employer wants to do is to
hire someone who brings all their personal drama to the office. Even
if the interview seems casual, always keep it professional and avoid
sharing unnecessary personal information.
-- Be honest: Interviewers don't expect you to have all the answers.
Often they are testing your reaction to "tough questions" to see how
you respond under pressure. It's much worse to get caught in a lie
than admit you don't know something. If you are unsure of an answer,
it's ok to say you don't know but then outline the steps you would take
to find out -- this will demonstrate you're a problem solver.
-- Prepare for these common open-ended questions: "Tell me about
yourself?" "Why do you want to work here?" "What motivates you?" These
questions may seem easy, but because they are so broad, candidates can
get tripped up by them if they don't know where to start or when to
end.
-- Don't go negative: No matter how tempting it is to share woes from
prior jobs or how much an interviewer is pushing you to do so, it's
never a good idea to say negative things about a previous employer.
The interviewer will assume you will also be likely to bad mouth their
company in the future.
Survey Methodology
This survey was conducted online within the U.S. by Harris Interactive on behalf of CareerBuilder.com among 3,016, hiring managers and human resource professionals (employed full-time; not self-employed; with at least significant involvement in hiring decisions); ages 18 and over between November 13 and December 3, 2007. With a pure probability sample of 3,016, one could say with a 95 percent probability that the overall results have a sampling error of +/- 1.8 percentage points, respectively. Sampling error for data from sub-samples is higher and varies. A full methodology is available upon request.
About CareerBuilder.com
CareerBuilder.com is the nation's largest online job site with more than 23 million unique visitors and over 1.6 million jobs. Owned by Gannett Co., Inc. , Tribune Company, The McClatchy Company and Microsoft Corp. , the company offers a vast online and print network to help job seekers connect with employers. CareerBuilder.com powers the career centers for more than 1,600 partners, including 140 newspapers and leading portals such as America Online and MSN. More than 300,000 employers take advantage of CareerBuilder.com's easy job postings, 26 million-plus resumes, Diversity Channel and more. CareerBuilder.com and its subsidiaries operate in the U.S., Europe, Canada and Asia. For more information, visit http://www.careerbuilder.com/.
Media Contact
Tanya Flynn
773-527-5393
Tanya.Flynn@careerbuilder.com
CareerBuilder.com
CONTACT: Tanya Flynn of CareerBuilder.com, +1-773-527-5393, Tanya.Flynn@careerbuilder.com
Web site: http://www.careerbuilder.com/
Boats.com and YachtWorld.com are 'Ship-Shape' With Salesforce.comSalesforce Software-as-a-Service helps sales teams and service teams drive revenue and increase customer satisfaction
SAN FRANCISCO, March 12 /PRNewswire-FirstCall/ -- Salesforce.com , the market and technology leader in Software-as-a-Service and Platform-as-a-Service, today announced that Boats.com and YachtWorld.com are leveraging Salesforce Software-as-a-Service (SaaS) CRM to expand their business and increase customer satisfaction. The company is using Salesforce SFA to gain complete visibility into the sales cycle, which enables the company to more effectively drive revenues. Salesforce Call Center empowers the service team to resolve most issues on the first call, which delights customers and helps reinforce the Boats.com and YachtWorld.com brand promise.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050216/SFW105LOGO)
Boats.com and YachtWorld.com is one of the 41,100 companies of all sizes, industries and geographies that comprised the salesforce.com customer base as of January 31, 2008. Revenue and subscribers will be recognized as the service is delivered.
"We have been using Salesforce since we started our business in 2000. We've gone from three people in sales using Salesforce SFA to having everyone in sales, marketing and customer service using the full suite of Salesforce SaaS CRM applications," said Debra Keene Bergeron, general manager at Boats.com and YachtWorld.com. "Salesforce has provided tremendous value and has been instrumental to our growth over the last seven years."
By centralizing its data within Salesforce, users have instant access to needed information around the clock and from any location. Also, management has a complete view of the sales pipeline, from initial point of contact through the proposal and final close date. The company recently deployed EchoSign Contract Management Service, which it downloaded from the AppExchange, to automate contract finalization. The process saves significant time and greatly decreases post-sale administration.
"Over the years, Salesforce has allowed us to easily add functionality and customize the solution as our business grows and changes," added Keene Bergeron. "Looking ahead, we're excited to explore the AppExchange further and continue to increase our success with Salesforce CRM."
About Boats.com (http://www.boats.com/) and Yachtworld.com (http://www.yachtworld.com/)
Together, YachtWorld.com and Boats.com are the single most powerful and effective global marketing solution for the boating industry. With over 140,000 new and used boat listings worldwide offered by over 4000 brokers, dealers and builders in 115 countries, YachtWorld.com and Boats.com are visited by over 4 million boating consumers every month who click through over 95 million page views. YachtWorld.com is the premier online sales channel for yacht brokers around the world, providing a complete suite of online marketing services through BoatWizard(TM), its proprietary back-end tool. Boats.com provides marketing and web services to new boat dealers and builders, and offers a For Sale By Owner classified service. Headquartered in Seattle, Washington, YachtWorld.com and Boats.com have their European headquarters in the United Kingdom, with sales offices in Germany, Italy and Russia and sales representation in Dubai, Australia and China. Both companies are business units of Dominion Enterprises, based in Norfolk, Virginia.
About salesforce.com
Salesforce.com is the market and technology leader in Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS). The company's portfolio of SaaS applications, including its award-winning CRM, available at http://www.salesforce.com/products/, has revolutionized the ways that customers manage and share business information over the Internet. The company's Force.com PaaS enables customers, developers and partners to build powerful on-demand applications that deliver the benefits of multi-tenancy across the enterprise. Applications built on the Force.com platform, available at http://www.force.com/, can be easily shared, exchanged and installed with a few simple clicks via salesforce.com's AppExchange marketplace available at http://www.salesforce.com/appexchange/.
As of January 31, 2008, salesforce.com manages customer information for approximately 41,000 customers including ABN AMRO, Dow Jones Newswires, Japan Post, Kaiser Permanente, KONE, Sprint Nextel, and SunTrust Banks. Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase salesforce.com applications should make their purchase decisions based upon features that are currently available. Salesforce.com has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM". For more information please visit http://www.salesforce.com/, or call 1-800-NO-SOFTWARE.
Copyright (c) 2008 salesforce.com, inc. All rights reserved. Salesforce and the "no software" logo are registered trademarks of salesforce.com, inc., and salesforce.com owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners.
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salesforce.com, inc.
CONTACT: Katy Dormer of salesforce.com, +1-415-901-8595, kdormer@salesforce.com
Web site: http://www.salesforce.com/
Independent Research Firm Cites BEA Systems as a Leader In Information-As-A-Service Report
SAN JOSE, Calif., March 12 /PRNewswire-FirstCall/ -- BEA Systems, a world leader in enterprise infrastructure software, today announced it was among the select companies that Forrester invited to participate in its January 23, 2008 report, The Forrester Wave: Information-As-A-Service (IaaS), Q1 2008. In this evaluation, BEA is cited as a Leader in all four categories, Complete IaaS Implementation, A Single Version Of The Truth, High-Performance Applications, and Enterprise Search And Reporting. BEA's position as a leader in the information-as-a-service space demonstrates the company's long-standing commitment to making diverse information easier to consume and reflects the company's service-oriented architecture (SOA) strategy, as well as BEA's Genesis vision for next-generation Dynamic Business Applications.
In this report Forrester investigates the information services offerings of 10 vendors including BEA. Forrester identifies four different use case scenarios for customer requirements: complete IaaS implementation; a single version of the truth; high-performance applications; and enterprise search and reporting. The report states, "BEA Systems is a Leader across all four use cases, riding the strength of the extensive features built into its AquaLogic Data Services Platform and its strong strategy and market presence."
The Forrester report concludes that of the 10 vendors it investigated, BEA was one of only two vendors recognized as a Leader in all four use cases. BEA AquaLogic(R) Data Services Platform is cited for "federating all types of data sources including connectivity to database management systems (DBMSes), files, applications, and other data sources. AquaLogic Data Services Platform (ALDSP) offers strong data security for IaaS and is well positioned to manage transactions across various data sources."
"We are proud to be recognized as a leader in the information-as-a-service market by Forrester," said Thanh Tran, senior vice president, AquaLogic Products, BEA Systems. "We've been a leader in this industry for quite some time, and this report further reflects our leadership position in this space. We will continue to set the bar for other information services solutions and execute upon our SOA strategy in an effort to improve our AquaLogic Platform."
BEA AquaLogic Data Services Platform is designed to help organizations rapidly provide consistent, integrated information to people, processes, and applications in the context and form required regardless of data location or format. This product transforms heterogeneous, siloed enterprise data into integrated, bidirectional, reusable information services which improve agility by increasing data reuse and reducing data inconsistency across the enterprise. BEA AquaLogic Data Services Platform is an integral part of single view of the customer, master data management, SOA integration, business intelligence, and search enablement projects.
BEA AquaLogic(R) offers an open and independent platform for developing, deploying, managing and operating a complete SOA in heterogeneous computing environments, including .Net, Java or legacy systems. For more information about BEA AquaLogic Data Services Platform or the BEA AquaLogic family of products, please visit: http://www.bea.com/aqualogic.
About BEA
BEA Systems, Inc. is a world leader in enterprise infrastructure software. Information about how BEA helps customers build a Liquid Enterprise(TM) that transforms their business can be found at http://www.bea.com/.
Copyright 1995-2007, BEA Systems, Inc. All rights reserved. BEA, BEA AquaLogic, BEA eLink, BEA WebLogic, BEA WebLogic Portal, BEA WebLogic Server, Connectera, Compoze Software, Jolt, JoltBeans, JRockit, SteelThread, Think Liquid, Top End, Tuxedo, and WebLogic are registered trademarks of BEA Systems, Inc. BEA Blended Application Development, BEA Blended Development Model, BEA Blended Strategy, BEA Builder, BEA Guardian, BEA Manager, BEA MessageQ, BEA microService Architecture, BEA SOA 360, BEA Workshop, BEA WorkSpace 360, Signature Editor, Signature Engine, Signature Patterns, Support Patterns, Arch2Arch, Arch2Arch Advisor, Dev2Dev, Dev2Dev Dispatch, Exec2Exec, Exec2Exec Voice, IT2IT, IT2IT Insight, Business LiquidITy, and Liquid Thinker are trademarks of BEA Systems, Inc. BEA Mission Critical Support, BEA Mission Critical Support Continuum, BEA SOA Self Assessment, and Fluid Framework are service marks of BEA Systems, Inc. All other company and product names may be the subject of intellectual property rights reserved by third parties. All other trademarks are the property of their respective companies.
BEA Systems
CONTACT: Press Contact, Jim Rivas, +1-408-570-8834, jrivas@bea.com, or Analyst Contact, Joe Hnilo, +1-408-570-8314, jhnilo@bea.com, both of BEA Systems, Inc.
Web site: http://www.bea.com/
McAfee, Inc. to Present at the Citi Investment Research Small & Mid-Cap Conference
SANTA CLARA, Calif., March 12 /PRNewswire-FirstCall/ -- McAfee, Inc. today announced that Dave DeWalt, chief executive officer and president of McAfee, Inc., will discuss recent business performance and initiatives at the Citi Investment Research Small & Mid-Cap Conference in Las Vegas on Wednesday, March 19 at 8:45 a.m. PDT.
The presentation will be webcast live and a replay will be archived on the investor relations Web site at http://investor.mcafee.com/. Investors interested in accessing the webcast should go to the appropriate link listed above at least 10 minutes prior to the broadcast.
About McAfee, Inc.
McAfee, Inc., headquartered in Santa Clara, California, is the world's largest dedicated security technology company. It delivers proactive and proven solutions and services that secure systems and networks around the world, allowing users to browse and shop the Web securely. With its unmatched security expertise and commitment to innovation, McAfee empowers home users, businesses, the public sector and service providers by enabling them to comply with regulations, protect data, prevent disruptions, identify vulnerabilities and continuously monitor and improve their security. http://www.mcafee.com/.
McAfee, Inc. 3965 Freedom Circle, Santa Clara, CA 95054, 888.847.8766, http://www.mcafee.com/
McAfee and/or other noted McAfee related products contained herein are registered trademarks or trademarks of McAfee, Inc., and/or its affiliates in the US and/or other countries. McAfee Red in connection with security is distinctive of McAfee brand products. Any other non-McAfee related products, registered and/or unregistered trademarks contained herein is only by reference and are the sole property of their respective owners. (C) 2008 McAfee, Inc. All rights reserved.
McAfee, Inc.
CONTACT: Investors, Brandie Claborn, +1-972-987-2124, brandie_claborn@mcafee.com, or Media, Tracy Ross, +1-408-346-5965, tracy_ross@mcafee.com both of McAfee, Inc.
Web site: http://www.mcafee.com/
Varian, Inc. to Present at the Lehman Brothers Global Healthcare Conference
PALO ALTO, Calif., March 12 /PRNewswire-FirstCall/ -- Garry W. Rogerson, President and CEO of Varian, Inc. (NasdaqGS: VARI) will speak at the Lehman Brothers Eleventh Annual Global Healthcare Conference in Miami on Tuesday, March 18th, 2008, at 5:15 p.m. Eastern time.
A live webcast of the presentation will be publicly available from Varian, Inc.'s Web site at http://www.varianinc.com/. Go to http://www.varianinc.com/ and click on "Investors." An archived replay will be available to the public from Varian, Inc.'s Web site for three months following the conference.
Varian, Inc. is a leading worldwide supplier of scientific instruments and vacuum technologies for life science and industrial applications. The company provides complete solutions, including instruments, vacuum products, laboratory consumable supplies, software, training and support through its global distribution and support systems. Varian, Inc. employs approximately 3,900 people worldwide and operates manufacturing facilities in North America, Europe and Asia Pacific. Varian, Inc. had fiscal year 2007 sales of $921 million, and its common stock is traded on the NASDAQ Global Select Market under the symbol, "VARI." Further information is available on the company's Web site: http://www.varianinc.com/.
For More Information, Contact:
Investor Relations
Varian, Inc.
650.424.5471
ir@varianinc.com
Varian, Inc.
CONTACT: Investor Relations of Varian, Inc., +1-650-424-5471, ir@varianinc.com
Web site: http://www.varianinc.com/
Seagate Increases Commitment to Evolving Market NeedsForms New Consumer Solutions Division to Leverage Consumer Electronics and Branded Solutions Businesses; Enterprise, Personal Compute and New Business Initiatives Units Strengthen Operational Linkage
SCOTTS VALLEY, Calif., March 12 /PRNewswire-FirstCall/ -- Seagate Technology today announced organizational refinements that represent the next step in the company's evolution to better serve both traditional and emerging storage markets.
Seagate has formed the Seagate Consumer Solutions division, which leverages the company's current consumer electronics (CE) component relationships with the growing scale of its branded solutions business.
Brian Dexheimer, currently EVP and chief sales and marketing officer, will become division president, assuming direct responsibility for this new organization. The Consumer Solutions division is comprised of the former Seagate Branded Solutions (SBS) business unit dedicated to delivering branded storage solutions under the Seagate and Maxtor brands, along with the company's CE business unit. The CE business unit currently serves customers who design and distribute consumer electronics products such as game consoles, personal media players, digital video recorders and other home media devices. Within the new combined organization, the CE business will remain under the direct management of general manager Pat King, who will also lead branded sales and marketing activities.
Dave Wickersham, president and COO, will assume responsibility for Seagate's Enterprise Compute business unit under general manager Sherman Black's management; the Personal Compute business unit led by general manager Mike Wingert; and the New Business Initiatives/Advanced Technology business unit led by general manager Phil Pollok.
"The home storage market is expected to grow tenfold in the next five years and represents an increasingly significant opportunity for Seagate," said Bill Watkins, Seagate CEO. "By combining the branded and CE business units we leverage our strength in both areas to deliver a consolidated vision and innovative integrated storage solutions designed to accommodate the rapidly escalating requirements of digital content storage, protection, expansion and organization in the home. In addition, we believe there are secondary benefits that will allow us to optimize cost and process efficiency while offering greater scale and consistency in product development, and increase coordination and leverage in sales and marketing.
"The Enterprise and Personal Compute business units share common DNA in the technical innovation around capacity, performance, power consumption and other customer requirements," continued Watkins. "I believe that a closer and more formal alignment between these business units and the core Design, Development, Operations, and Quality organizations reporting in to Dave will facilitate faster communication, faster prioritization, and faster decision making, further benefiting how we execute in these critical markets."
About Seagate
Seagate is the worldwide leader in the design, manufacture and marketing of hard disc drives, providing products for a wide-range of applications, including Enterprise, Desktop, Mobile Computing, Consumer Electronics and Branded Solutions. Seagate's business model leverages technology leadership and world-class manufacturing to deliver industry-leading innovation and quality to its global customers, with the goal of being the low cost producer in all markets in which it participates. The company is committed to providing award-winning products, customer support and reliability to meet the world's growing demand for information storage. Seagate can be found around the globe and at http://www.seagate.com/.
Seagate, Seagate Technology and the Wave logo are registered trademarks of Seagate Technology LLC.
Seagate Technology
CONTACT: Brian Ziel of Seagate Technology, +1-831-439-5429, brian.ziel@seagate.com
Web site: http://www.seagate.com/
New Chip Scale Packaging for AnalogicTech Converters Offers Portable Systems Designers Major Space SavingsHighly Dense Packaging Also Improves Electrical Characteristics, Reduces Noise
SANTA CLARA, Calif., March 12 /PRNewswire-FirstCall/ -- Advanced Analogic Technologies Inc. (AnalogicTech) , a developer of power management semiconductors for mobile consumer electronic devices, announced today the availability of Chip Scale Packages (CSPs) for its AAT1149 and AAT1171 DC/DC converters. By eliminating bond wires, the new CSP option offers a dramatic reduction in footprint. The new packaging option also reduces stray inductance, capacitance and resistance and therefore noise, compared to traditional packaging with bond wires.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050829/SFTU089LOGO)
"CSP has quickly evolved from an interesting packaging innovation to a mainstream packaging technology," said Bill Weiss, product line director at AnalogicTech. "By taking advantage of lower component profiles, reduced stray inductance, capacitance and resistance and enhanced electrical characteristics, these new packages will enable designers of cell phones, Bluetooth(TM) headsets and other space-constrained portable systems to reduce footprint, improve AC performance, and drive down manufacturing costs."
The space savings offered by the new CSP options are dramatic. The AAT1149 was originally introduced in a 2 x 2.1-mm 8-pin SC70JW package. At 1.235 x 0.91-mm, the new CSP option reduces the required PCB footprint by 73%. Similarly, the AAT1171, originally introduced in a 3x3-mm 12-pin TDFN package, is now available in a CSP which, at 1.5 x 2.2-mm, reduces the required PCB footprint by 64%, when compared to the original package.
High Efficiency Converters
Targeted at meeting tight portable design space requirements, the AAT1149 step-down converter delivers up to 400 mA of load current from a 2.7-V to 5.5-V input while operating with low profile, 1-mm high 0603 inductors. Output voltage is programmable via external feedback resistors from 1.0V to VIN. The device attains up to a high 98 percent efficiency. No load quiescent current is only 45 uA.
The AAT1171 is a dynamic voltage-scaling DC/DC converter optimized to support Power Amplifiers (PAs) in WCDMA and CDMA handsets. Operating across a wide 2.7 to 5.5 V input voltage range, the device delivers up to 600 mA of continuous load current. The converter optimizes PA efficiency at both low and high transmit levels by supplying a variable output voltage of 0.6 to 3.6 V. No load quiescent current is only 45 uA. Using an AAT1171 step-down converter can result in a 60% power savings when compared to connecting the PA directly to the system battery and thereby dramatically increase the talk-time of the mobile handset.
Price and Availability
Both the AAT1149 and AAT1171 are qualified across the -40 C to +85 C temperature range. In a CSP the AAT1149 sells for $0.87 in 1K quantities and the AAT1171 sells for $1.31 in 1K quantities.
About AnalogicTech
Advanced Analogic Technologies, Inc. (AnalogicTech) is a supplier of Total Power Management(TM) semiconductor solutions for mobile consumer electronic devices, such as wireless handsets, notebook and tablet computers, smartphones, digital cameras, wireless LAN, and personal media players. The company focuses its design and marketing efforts on the application-specific power management needs of consumer, communications, and computing applications in these rapidly evolving devices. AnalogicTech also develops and licenses device, process, package, and application-related technology. AnalogicTech is headquartered in Santa Clara, California and Macau, S.A.R., with offices in China (Beijing, Shanghai and Shenzhen), Hong Kong, Taiwan, Japan, South Korea, Sweden, France and United Kingdom, as well as a worldwide network of sales representatives and distributors. The company is listed on the NASDAQ exchange under the ticker symbol AATI. For more information, please visit the AnalogicTech website: http://www.analogictech.com/. (AnalogicTech - G)
AnalogicTech and the AnalogicTech logo are trademarks of Advanced Analogic Technologies Incorporated. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders.
Photo: http://www.newscom.com/cgi-bin/prnh/20050829/SFTU089LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Advanced Analogic Technologies Inc.
CONTACT: Headquarters Contact, Karolien Cools-Wittry of AnalogicTech, +1-408-737-4600, karoliencw at analogictech.com; or Agency Contact, Matthew Quint of Quint Public Relations, +1-650-599-9450, mquint@quintpr.com, for Advanced Analogic Technologies Inc.
Web site: http://www.analogictech.com/
BAXL Technologies Announces New Reseller Partnership in EuropeBAXL Expands European Reach with Swiss-based Atel Gebaudetechnik AG
BETHEL, Conn., March 12 /PRNewswire-FirstCall/ -- BAXL Technologies, Inc. (BULLETIN BOARD: BXLH) , the leading technology solutions provider enabling broadband for voice, data and video over existing wiring, today announced a reseller agreement with Olten, Switzerland-based Atel Gebaudetechnik AG. Under the terms of the agreement, Atel will resell and support BAXL's solutions to customers and enterprises throughout Europe from the Black Sea to the Atlantic, and from the Arctic Circle to the southern Mediterranean.
Eric Vold, Senior VP Global Sales for BAXL said, "We are pleased to welcome Atel to our Reseller Partner Program. Atel holds a leadership position in this market, having well-established relationships with many of BAXL's target customers within the Hospitality, MDU/MTU and Healthcare markets. We look forward to working together to build the European market's broadband infrastructure for delivering profitable, differentiated services, as well as sophisticated technical support and training, and global account strategic support."
Peter Limacher, CEO of Atel Installationstechnik AG said, "We surveyed the market for solutions that are flexible, cost-effective, and that provide fixed bandwidth with a minimum of new equipment and infrastructure alteration. BAXL is the hands-down winner in that head-to-head competition. Their technology is robust, rugged, and has an R&D path that will take it to 100+ Mbps within the coming months."
Atel Gebaudetechnik AG (http://www.atel.eu/en/group) is one of the top European power producers with a large number of wholly owned industrial companies. Its largest subsidiary, Atel Installationstechnik, is engaged in electrical contracting and IT installations, and selected BAXL because the Company's technology offers a simple and robust solution for providing broadband access for a variety of infrastructure classes.
About BAXL Technologies
BAXL Technologies, Inc., is a solutions provider enabling the reliable delivery of wired and wireless broadband applications including voice, video and data, over any existing wiring. The BAXL Merlot Solution is easy to install and use; yet powerful enough to fully utilize all the benefits of present day and future broadband applications with continuous fixed bandwidth. The Merlot Solution allows the delivery of advanced applications including High Speed Internet Access (HSIA), Video on Demand (VOD), Voice over Internet Protocol (VoIP) and Video Security & Surveillance, without the added expense of wire upgrades, or the need for modems or local power. BAXL's customers include many of the world's leading hotels, as well as multiple tenant properties and is marketed and sold through Telecom, Cable, Satellite and Technology Providers. Founded in 1997, BAXL is headquartered in Bethel, Connecticut. For more information please visit http://www.baxl.net/.
Safe Harbor
Certain statements in this Press Release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These statements include, without limitation, statements concerning the impact of the settlement agreement on our future business prospects and our ability to successfully complete the commercialization of our product. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risk factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include the risk that the settlement agreement will not produce the results we intend and all of the risks inherent in commercializing a new product (including technology risks, market risks, financial risks and implementation risks, as well as other risks and uncertainties affecting the Company, included in filings with the Securities and Exchange Commission, all of which are available at http://www.sec.gov/. We disclaim any intention or obligation to revise any forward-looking statements, including, without limitation, financial estimates, whether as a result of new information, future events, or otherwise.
Contact:
Allen & Caron BAXL Technologies
(212) 691-8087 (203) 730-1791
Rudy Barrio (US Investors) Media Contact:
r.barrio@allencaron.com Jeffery Romano
Director of Marketing
Brian Kennedy (US Media) jromano@baxl.net
brian@allencaron.com
BAXL Technologies, Inc.
CONTACT: US Investors, Rudy Barrio, r.barrio@allencaron.com, or US Media, Brian Kennedy, brian@allencaron.com, both of Allen & Caron, +1-212-691-8087, for BAXL Technologies, Inc.; or Jeffery Romano, Director of Marketing of BAXL Technologies, Inc., +1-203-730-1791, jromano@baxl.net
Web site: http://www.baxl.net/ http://www.atel.eu/en/group
finetunes and Qtrax Sign Digital Licensing Agreement
NEW YORK, March 12 /PRNewswire/ --
Digital distribution industry leader finetunes and Qtrax, the world's
first free and legal peer-to-peer (P2P) music service, today announce that
they have signed a digital licensing agreement.
For more than four years, finetunes has been a pioneer in creating
opportunities for independent labels in the digital music markets. Initially
focused on providing digital solutions for the German independent labels, the
Hamburg-based company now represents more than 1,000 record labels from
around the world.
A leading distributor in the field of electronic music, finetunes also
represents labels from across the musical spectrum, from jazz to reggae, pop
to world music. finetunes stands out from other digital distributors in that
it handles all its technical development and operations in-house, giving the
company the ability to react fast and innovate -- providing labels with
solutions such as its recently-launched sales tracking software, enabling its
partners to gain a detailed overview of their position in the digital market
Also at the heart of finetunes operation is its global network of
satellite offices, which work together with finetunes HQ to secure strategic,
focused and truly coordinated international retail marketing for new
releases. Furthermore, finetunes is developing new and innovative solutions
for catalogue marketing, and also focusing on providing digital marketing
opportunities for labels outside of the core market of digital music stores.
"finetunes has been at the forefront of the evolving music market
online," said Founder and Chairman of Qtrax Allan Klepfisz. "They truly
pioneered digital distribution and have shown great vision. We are delighted
to be able to offer finetunes' catalogue of top artists and songwriters."
About finetunes (http://www.finetunes.net)
For more than four years, finetunes has been a pioneer in creating
opportunities for independent labels in the digital music markets. Initially
focused on providing digital solutions for the German independent labels, the
Hamburg-based company now represents more than 1,000 record labels from
around the world and has a network of satellite offices in London, Paris,
Montreal, Tokyo and Barcelona.
About Qtrax (http://www.qtrax.com)
Qtrax is the world's first legal and free peer-to-peer (P2P) music
service. Qtrax showcases an innovative ad-supported delivery model that
easily directs revenue back to artists and rights holders. Qtrax is available
for browsing now and soon will provide fans with access to a colorful and
diverse catalog with millions of high-quality digital music files
representing the broadest artist-based fan-directed array of products
available anywhere. Based in New York City, Qtrax is a subsidiary of
Brilliant Technologies Corporation (OTC: BLLN.PK), a publicly traded
technology holding company.
Safe Harbor
This announcement contains express or implied forward-looking statements
which involve known and unknown risks and uncertainties that could cause
actual results to differ materially from those suggested, including but not
limited to risks identified and discussed in company filings with the
Securities and Exchange Commission. These forward-looking statements are
based on information and management's expectations as of the date hereof and
future results may differ materially from expectations and the company
disclaims any obligation to update them except as required by law.
Web site: http://www.qtrax.com
http://www.finetunes.net
Qtrax
Shamin Abas, +1-561-366-1226, or +1-917-494-9288, shamin@shaminabaspr.com, for Qtrax
Global Crossing Announces Fourth Quarter and Full Year 2007 Results-- Consolidated revenue grew 4 percent sequentially to $616 million in the fourth quarter.-- Company generated $323 million or 52 percent adjusted gross margin in the fourth quarter.-- Consolidated revenue grew to $2.26 billion in 2007.-- Company generated $174 million in adjusted cash EBITDA for 2007.
FLORHAM PARK, N.J., March 12 /PRNewswire-FirstCall/ -- Global Crossing , a leading global IP solutions provider, today reported its consolidated financial and operational results for the fourth quarter and full year 2007. The following table highlights financial results:
Results at a Glance
(Dollars in millions) Fourth Quarter Full Year
2007 2006 Growth 2007 2006 Growth
Consolidated Revenues $ 616 $ 488 $ 26% $ 2,261 $ 1,871 $ 21%
"Invest and Grow" Revenues $ 504 $ 351 $ 44% $ 1,794 $ 1,249 $ 44%
Adjusted Gross Margin $ 323 $ 214 $ 51% $ 1,115 $ 751 $ 48%
Adjusted Gross Margin % 52% 44% 800 Bps 49% 40% 900 Bps
"Invest and Grow" Adjusted
Gross Margin $ 305 $ 196 $ 56% $ 1,053 $ 673 56%
Adjusted Cash EBITDA $ 100 $ 12 733% $ 174 $ (25) 796%
Definitions of the company's adjusted cash EBITDA and adjusted gross margin non-GAAP measures and reconciliations to the most directly comparable GAAP measures are included in the attached financial tables.
"The transformation we started three years ago has generated improvements in our results and strategic positioning," said John Legere, Global Crossing's chief executive officer. "We're seeing benefits from our two acquisitions, and our revenue and adjusted cash EBITDA have increased. We are focused on continuing the execution of our strategy to continue these trends in 2008."
Business Highlights
Global Crossing reported consolidated revenue of $2.26 billion, and adjusted gross margin of $1.12 billion in 2007. The company generated $174 million of adjusted cash EBITDA for the year. In the fourth quarter, all three reporting segments generated positive adjusted cash EBITDA, and the company generated cash. Other highlights in the fourth quarter and 2007 included:
-- The company's "invest and grow" category showed strong revenue growth
of 6 percent sequentially in the fourth quarter.
-- "Invest and grow" adjusted gross margin grew to 61 percent in the
fourth quarter, an increase from 56 percent in the fourth quarter of
last year.
-- Adjusted cash EBITDA of $100 million was generated in the fourth
quarter which included a net $30 million non-cash benefit relating to
changes in the restructuring reserve.
Strong order levels during 2007 are continuing into 2008, matching a record monthly high of $4.8 million in January.
Fourth Quarter Results
Global Crossing's consolidated business generated $616 million in revenue in the fourth quarter of 2007, representing $128 million or 26 percent year- over-year growth and $22 million or 4 percent sequential growth. The company's "invest and grow" category - namely that part of the business focused on serving global enterprises and carrier customers excluding wholesale voice - generated revenue of $504 million for the fourth quarter, an increase of $153 million or 44 percent year over year and $27 million or 6 percent sequentially. The sequential increase in "invest and grow" revenue reflected strong demand for advanced IP and managed solutions.
The company's rest-of-world (ROW) segment generated strong "invest and grow" revenue of $267 million in the fourth quarter. This represented a year- over-year increase of $49 million or 22 percent and a sequential increase of $9 million or 3 percent. Impsat generated $91 million in "invest and grow" revenue, an increase of $8 million or 10 percent sequentially. GCUK generated $151 million in "invest and grow" revenue, a 14 percent or $18 million year- over-year increase, and a 7 percent or $10 million sequential increase, in each case including foreign currency benefits. Of the sequential growth, $3 million was due to an increase in equipment sales.
Wholesale voice revenue began to stabilize in the second half of 2007, and management expects this business to remain relatively steady going forward. For the fourth quarter, wholesale voice revenue decreased by $4 million on a sequential basis and by $24 million year over year to $111 million.
Global Crossing reported adjusted gross margin for the fourth quarter of 52 percent of revenue or $323 million in absolute terms. This compared with 44 percent or $214 million in the fourth quarter of 2006 and 52 percent or $306 million in the third quarter of 2007. The year-over-year improvement in adjusted gross margin resulted from a continued shift in Global Crossing's revenue mix, the addition of Impsat and initiatives aimed at reducing cost of access expenses. The "invest and grow" business generated $305 million of adjusted gross margin or 61 percent of revenue, compared with $196 million or 56 percent in the fourth quarter of 2006 and $289 million or 61 percent in the third quarter of 2007.
The company recorded savings of $10 million in the fourth quarter from its cost of access initiatives, which included a settlement of $3 million, bringing the total amount of such savings to approximately $80 million for the year. Consolidated cost of access expense for the fourth quarter was $293 million, compared with $288 million in the third quarter of 2007 and $274 million in the fourth quarter of 2006. The year-over- year increase was attributable to the inclusion of Impsat, and the sequential increase was due to strong revenue growth.
Cost of revenue -- which includes cost of access; technical real estate, network and operations; third party maintenance; and cost of equipment sales - - was $436 million in the fourth quarter, compared with $435 million in the previous quarter and $403 million in the fourth quarter of 2006. Excluding cost of access, cost of revenue increased by $14 million year over year and declined by $4 million sequentially. The sequential decline was attributable to a lower charge from the 2007 retention and motivation grants, offset by increased cost of equipment sales for GCUK in the fourth quarter. The year- over-year increase was primarily due to the addition of Impsat.
Sales, general and administrative (SG&A) expenses were $84 million in the fourth quarter of 2007, compared with $98 million in the third quarter of 2007 and $79 million in the fourth quarter of 2006. The fourth quarter included a net $30 million non-cash benefit relating to changes in the restructuring reserve comprised of a $31 million reserve release related to the decision to convert idle real estate into productive assets in connection with the establishment of the company's collocation and data center business in Europe, offset by other minor changes in estimate. The company also reduced its real estate restructuring reserve by $11 million during the third quarter, all of which affected Global Crossing's ROW segment. Excluding the impact of these real estate accrual reversals, SG&A grew $35 million year over year and $5 million sequentially.
Global Crossing reported $100 million of adjusted cash EBITDA in the fourth quarter, a sequential increase of $26 million and an $88 million year- over-year improvement. In the fourth quarter, the ROW segment generated positive adjusted cash EBITDA of $35 million. Impsat and GCUK contributed $43 million and $22 million, respectively, of adjusted cash EBITDA in the fourth quarter. As stated above, adjusted cash EBITDA in the third and fourth quarters included benefits of $11 million and $30 million, respectively, relating to changes in the restructuring reserve. Excluding the impact of these restructuring reserve changes, adjusted cash EBITDA grew $7 million sequentially, from $63 million in the third quarter to $70 million in the fourth quarter.
Full Year Results
Global Crossing's consolidated business generated $2.26 billion in revenue for 2007, representing $390 million or 21 percent year-over-year growth. The company generated $1.79 billion "invest and grow" revenue for 2007, an increase of $545 million or 44 percent year over year, or 20 percent year over year, excluding revenue from acquisitions.
The company's ROW segment generated $1.01 billion of "invest and grow" revenue in 2007, a year-over-year increase of $205 million or 25 percent. GCUK generated $572 million of "invest and grow" revenue in 2007, compared with $442 million in 2006 or an increase of 29 percent year over year. The majority of the year-over-year improvement in GCUK was attributable to the inclusion of Fibernet and foreign currency benefits. Impsat generated $223 million in "invest and grow" revenue in 2007.
Wholesale voice revenue declined by 25 percent or $152 million year over year to $462 million. As noted last quarter, the company expects this segment to remain relatively stable going forward.
Global Crossing reported adjusted gross margin of 49 percent or $1.12 billion for 2007. This compared with 40 percent or $751 million in 2006. The "invest and grow" segment generated $1.05 billion of adjusted gross margin or 59 percent of "invest and grow" revenue, compared to 54 percent or $673 million in 2006. The growth in adjusted gross margin percentage of "invest and grow" revenue was due to the continuing shift of Global Crossing's revenue mix to higher margin products, the acquisitions of Fibernet and Impsat, and approximately $80 million of savings from cost of access initiatives during the year. "Invest and grow" adjusted gross margin accounted for 94 percent of the company's total adjusted gross margin in 2007.
Cost of revenue was $1.72 billion in 2007, compared with $1.58 billion in 2006. The $144 million year-over-year increase was primarily due to the inclusion of Impsat and Fibernet, increased salaries and benefits, increased cash and stock compensation relative to 2006, when the company missed its bonus goals, and increased equipment sales, offset by cost of access in ROW.
SG&A expenses were $416 million in 2007, compared with $342 million in 2006. The year-over-year change was primarily due to the inclusion of Impsat and Fibernet, increased salaries and sales commissions and the previously noted retention and motivation grant expenses, and charges relating to the company's May 2007 restructuring plan, all of which were partially offset by the previously noted real estate related reserve releases in the third and fourth quarters.
In both the third and fourth quarters, all reporting segments generated positive adjusted cash EBITDA. The company reported $174 million of adjusted cash EBITDA for 2007, a $199 million year-over-year improvement.
Global Crossing's consolidated net loss applicable to common shareholders was $310 million for 2007, compared with a loss of $327 million in 2006.
Cash and Liquidity
As of December 31, 2007, Global Crossing had $397 million of unrestricted and $53 million of restricted cash and cash equivalents.
Cash flow from operating activities for the fourth quarter was $94 million, including $50 million in interest on indebtedness. Global Crossing received $91 million in proceeds from the sale of indefeasible rights of use (IRUs) and prepaid services in the fourth quarter. Excluding previous financing and M&A activities, the company generated $33 million of cash during the quarter. Cash use for the quarter included $77 million used for capital expenditures and for principal payments on capital leases and long term debt.
Cash flow used in operating activities was $15 million in 2007, including $116 million of interest on indebtedness. Global Crossing received $174 million in proceeds from the sale of IRUs and prepaid services in 2007. Excluding financing and M&A activities, the company used $191 million of cash for the year. Cash use for 2007 included $269 million used for capital expenditures and for principal payments on capital leases and long term debt.
Note regarding contributions from Impsat and Fibernet
Financial results for 2006 do not include contributions from Impsat and include only 81 days of contribution from Fibernet for the fourth quarter of 2006. For purposes of this earnings release, all results have been prepared on the basis that Fibernet results were included in the company's GCUK segment. (See attached financial tables for further explanation.) References made to segment revenue and costs are gross of intersegment eliminations as reported in the following financial tables.
2008 Guidance
"As we enter the next phase of our development, we continue to believe we are well positioned to take advantage of market opportunities. We're planning to grow the business at a healthy rate while expanding adjusted cash EBITDA," said John Legere. "We'll maintain a balanced approach as we focus on growing adjusted cash EBITDA and continue to invest in our future."
Metric 2008 Guidance
($ in millions)
Revenue $2,570 - $2,675
Adjusted Cash EBITDA $320 - $380
Cash Use ($85) - ($35)
Non-GAAP Metrics
Pursuant to the Securities and Exchange Commission's (SEC's) Regulation G, the attached schedules include definitions of Global Crossing's adjusted cash EBITDA and adjusted gross margin measures, as well as reconciliations of such measures to the most directly comparable financial measures calculated and presented in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP).
Conference Call
The company will hold a conference call on Wednesday, March 12, 2008 at 9:00 a.m. EDT to discuss its financial results. The call may be accessed by dialing +1 212 271 4606 or +44 (0) 870 001 3120. Callers are advised to access the call 15 minutes prior to the start time. A Webcast with presentation slides will be available at http://investors.globalcrossing.com/events.cfm.
A replay of the call will be available on Wednesday, March 12, 2008 beginning at 11:00 a.m. EDT and will be accessible until Wednesday, March 19, 2008 at 11:00 a.m. EDT. To access the replay, North American callers should dial +1 402 977 9140 or +1 800 633 8284 and enter reservation number 21378561. Callers in the United Kingdom should dial +44 (0) 870 000 3081 or +44 (0) 800 692 0831 and enter reservation number 21378561.
ABOUT GLOBAL CROSSING
Global Crossing provides telecommunications solutions over the world's first integrated global IP-based network. Its core network connects approximately 390 cities in more than 30 countries worldwide, and delivers services to approximately 690 cities in more than 60 countries and 6 continents around the globe. The company's global sales and support model matches the network footprint and, like the network, delivers a consistent customer experience worldwide.
Global Crossing IP services are global in scale, linking the world's enterprises, governments and carriers with customers, employees and partners worldwide in a secure environment that is ideally suited for IP-based business applications, allowing e-commerce to thrive. The company offers a full range of data, voice and security products to approximately 40 percent of the Fortune 500, as well as 700 carriers, mobile operators and ISPs. Its Professional Services and Managed Solutions provide VoIP, security and network consulting and management services to support its Global Crossing IP VPN service and Global Crossing VoIP services. Global Crossing was the first global communications provider with IPv6 natively deployed in both its private and public backbone networks.
Please visit http://www.globalcrossing.com/ or blogs.globalcrossing.com/ for more information about Global Crossing.
This press release contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties that could cause the actual results to differ materially, including Global Crossing's history of substantial operating losses and the fact that, in the near term, funds from operations will not satisfy cash requirements; greater than anticipated increases in operating expenses and capital expenditures needed to support the company's revenue growth; the company's reliance on cash generated by individually significant prepayments for services; demands from access vendors to reduce the company's days payable outstanding; legal and contractual restrictions on the inter-company transfer of funds by the company's subsidiaries; failure to achieve expected synergies or operating results resulting from the acquisition of Impsat; possible violations of the Foreign Corrupt Practices Act, particularly by acquired businesses; increased competition and pricing pressures resulting from technology advances and regulatory changes; competitive disadvantages relative to competitors with superior resources; political, legal and other risks due to the company's substantial international operations, including currency exchange-related risks; potential weaknesses in internal controls of acquired businesses, and difficulties in integrating internal controls of those businesses with the company's own internal controls; the concentration of revenue in a limited number of customers, and the rights of such customers to terminate their contracts or to simply cease purchasing services thereunder; exposure to contingent liabilities; and other risks referenced from time to time in the company's and Impsat's filings with the Securities and Exchange Commission. Global Crossing undertakes no duty to update information contained in this press release or in other public disclosures at any time.
CONTACT GLOBAL CROSSING:
Press Contacts
Becky Yeamans
+ 1 973 937 0155
PR@globalcrossing.com
Fernanda Marques
Latin America
+ 55 11 3957 2042
LatAmPR@globalcrossing.com
Jo Baker
Europe
+ 44 (0) 1256 732387
EuropePR@globalcrossing.com
Analysts/Investors Contact
Suzanne Lipton
+ 1 800 836 0342
glbc@globalcrossing.com
Gino Mathew
+ 1 800 836 0342
glbc@globalcrossing.com
IR/PR1
FINANCIAL INFORMATION FOLLOWS
Global Crossing Limited and Subsidiaries
Unaudited Pro Forma Reconciliation of Adjusted Gross Margin to Gross
Margin
($ in millions)
Quarter Ended December 31, 2007
GCUK GC Impsat ROW(1) Eliminations Total
Revenues:
Enterprise, carrier
data and indirect
channels $151 $88 $265 $- $504
Wholesale voice 2 3 106 - 111
Other - - 1 - 1
Intersegment revenue - 3 2 (5) -
Consolidated revenues $153 $94 $374 $(5) $616
Cost of access:
Enterprise, carrier
data and indirect
channels $(43) $(21) $(135) $- $(199)
Wholesale voice (2) (2) (90) - (94)
Other - - - - -
Intersegment cost of
access - (2) (2) 4 -
Consolidated cost of
access $(45) $(25) $(227) $4 $(293)
Adjusted Gross Margin:
Enterprise, carrier
data and indirect
channels $108 $67 $130 $- $305
Wholesale voice - 1 16 - 17
Other - - 1 - 1
Intersegment adjusted
gross margin - 1 - (1) -
Consolidated adjusted
gross margin $108 $69 $147 $(1) $323
Quarter Ended December 31, 2006
GCUK ROW(1) Total
Revenues:
Enterprise, carrier
data and indirect
channels $133 $218 $351
Wholesale voice 2 133 135
Other - 2 2
Intersegment revenue - - -
Consolidated revenues $135 $353 $488
Cost of access:
Enterprise, carrier
data and indirect
channels $(38) $(117) $(155)
Wholesale voice (2) (117) (119)
Other - - -
Intersegment cost of
access - - -
Consolidated cost of
access $(40) $(234) $(274)
Adjusted Gross
Margin:
Enterprise, carrier
data and indirect
channels $95 $101 $196
Wholesale voice - 16 16
Other - 2 2
Intersegment adjusted
gross margin - - -
Consolidated adjusted
gross margin $95 $119 $214
Year Ended December 31, 2007
GCUK GC Impsat ROW(1) Eliminations Total
Revenues:
Enterprise, carrier
data and indirect
channels $572 $215 $1,007 $- $1,794
Wholesale voice 10 6 446 - 462
Other - - 5 - 5
Intersegment revenue - 8 5 (13) -
Consolidated revenues $582 $229 $1,463 $(13) $2,261
Cost of access:
Enterprise, carrier
data and indirect
channels $(161) $(54) $(526) $- $(741)
Wholesale voice (8) (4) (392) - (404)
Other - - (1) - (1)
Intersegment cost of
access - (5) (5) 10 -
Consolidated cost of
access $(169) $(63) $(924) $10 $(1,146)
Adjusted Gross Margin:
Enterprise, carrier
data and indirect
channels $411 $161 $481 $- $1,053
Wholesale voice 2 2 54 - 58
Other - - 4 - 4
Intersegment adjusted
gross margin - 3 - (3) -
Consolidated adjusted
gross margin $413 $166 $539 $(3) $1,115
Year Ended December 31, 2006
GCUK ROW(1) Total
Revenues:
Enterprise, carrier data
and indirect channels $442 $807 $1,249
Wholesale voice 8 606 614
Other - 8 8
Intersegment revenue - - -
Consolidated revenues $450 $1,421 $1,871
Cost of access:
Enterprise, carrier data
and indirect channels $(131) $(445) $(576)
Wholesale voice (8) (535) (543)
Other - (1) (1)
Intersegment cost of
access - - -
Consolidated cost of
access $(139) $(981) $(1,120)
Adjusted Gross Margin:
Enterprise, carrier data
and indirect channels $311 $362 $673
Wholesale voice - 71 71
Other - 7 7
Intersegment adjusted
gross margin - - -
Consolidated adjusted
gross margin $311 $440 $751
(1) Rest of World (ROW) represents operations of Global Crossing Limited
and subsidiaries excluding Global Crossing (UK) Telecommunications
Ltd. and subsidiaries (GCUK) and GC Impsat Holdings I Plc and
subsidiaries (GC Impsat).
Pro Forma Explanatory Note for 2006:
On October 11, 2006, GC Acquisitions, a wholly-owned subsidiary of Global
Crossing Limited and affiliate of Global Crossing (UK) Telecommunications
Ltd. (GCUK), took control of Fibernet Group Plc (Fibernet) and since that
date the results of Fibernet have been consolidated into the Global
Crossing's results. On December 28, 2006, a subsidiary of GCUK acquired
all of Fibernet's UK a operations. These unaudited pro forma tables have
been prepared on the basis that GCUK had acquired Fibernet's UK operations
on October 11, 2006.
On May 9, 2007, Global Crossing announced that it had acquired Impsat
Fiber Networks Inc., and since that date Impsat's results have been
consolidated into Global Crossing's results as GC Impsat.
Global Crossing Limited and Subsidiaries
Unaudited Pro Forma Consolidated Statements of Operations
($ in millions)
Quarter Ended December 31, 2007
GCUK GC Impsat ROW(1) Eliminations Total
REVENUES $153 $94 $374 $(5) $616
Cost of revenue
Cost of access (45) (25) (227) 4 (293)
Real estate, network
and operations (20) (15) (59) 1 (93)
Third party maintenance (8) (5) (15) - (28)
Cost of equipment sales (17) - (5) - (22)
Total cost of revenue (90) (45) (306) 5 (436)
Selling, general and
administrative (20) (28) (36) - (84)
Depreciation and
amortization (22) (19) (37) - (78)
OPERATING INCOME (LOSS) 21 2 (5) - 18
OTHER INCOME (EXPENSE)
Interest expense, net (15) (8) (11) - (34)
Other income (expense), net (3) 4 12 - 13
INCOME (LOSS) BEFORE
REORGANIZATION ITEMS, NET
AND INCOME TAXES 3 (2) (4) - (3)
Net gain on preconfirmation
contingencies - - 31 - 31
INCOME (LOSS) FROM
CONTINUING OPERATIONS
BEFORE PROVISION FOR
INCOME TAXES 3 (2) 27 - 28
Provision for income taxes (9) (2) (15) - (26)
NET INCOME (LOSS) (6) (4) 12 - 2
Preferred stock dividends - - (1) - (1)
INCOME (LOSS) APPLICABLE
TO COMMON SHAREHOLDERS $(6) $(4) $11 $- $1
Quarter Ended December 31, 2006
GCUK ROW(1) Total
REVENUES
Cost of revenue
Cost of access $135 $353 $488
Real estate, network
and operations (40) (234) (274)
Third party maintenance (24) (60) (84)
Cost of equipment sales (8) (15) (23)
Total cost of revenue (19) (3) (22)
Selling, general and
administrative (91) (312) (403)
Depreciation and
amortization (18) (61) (79)
OPERATING INCOME (LOSS) (18) (31) (49)
OTHER INCOME (EXPENSE) 8 (51) (43)
Interest expense, net (15) (10) (25)
Other income (expense), net 24 (9) 15
INCOME (LOSS) BEFORE
REORGANIZATION ITEMS, NET
AND INCOME TAXES 17 (70) (53)
Net gain on preconfirmation
contingencies - 3 3
INCOME (LOSS) FROM
CONTINUING OPERATIONS
BEFORE PROVISION FOR
INCOME TAXES 17 (67) (50)
Provision for income taxes (22) (18) (40)
NET INCOME (LOSS) (5) (85) (90)
Preferred stock dividends - - -
INCOME (LOSS) APPLICABLE
TO COMMON SHAREHOLDERS $(5) $(85) $(90)
Year Ended December 31, 2007
GCUK GC Impsat ROW(1) Eliminations Total
REVENUES $582 $229 $1,463 $(13) $2,261
Cost of revenue
Cost of access (169) (63) (924) 10 (1,146)
Real estate, network and
operations (96) (33) (259) 3 (385)
Third party maintenance (35) (12) (56) - (103)
Cost of equipment sales (62) (3) (23) - (88)
Total cost of revenue (362) (111) (1,262) 13 (1,722)
Selling, general and
administrative (78) (68) (270) - (416)
Depreciation and
amortization (84) (41) (139) - (264)
OPERATING INCOME (LOSS) 58 9 (208) - (141)
OTHER INCOME (EXPENSE)
Interest expense, net (60) (21) (69) - (150)
Other income (expense), net 2 3 10 - 15
INCOME (LOSS) BEFORE
REORGANIZATION ITEMS,
NET AND INCOME TAXES - (9) (267) - (276)
Net gain on preconfirmation
contingencies - - 33 - 33
INCOME (LOSS) FROM
CONTINUING OPERATIONS
BEFORE PROVISION FOR
INCOME TAXES - (9) (234) - (243)
Provision for income taxes (11) (7) (45) - (63)
NET INCOME (LOSS) (11) (16) (279) - (306)
Preferred stock dividends - - (4) - (4)
INCOME (LOSS) APPLICABLE
TO COMMON SHAREHOLDERS $(11) $(16) $(283) $- $(310)
Year Ended December 31, 2006
GCUK ROW(1) Total
REVENUES $450 $1,421 $1,871
Cost of revenue
Cost of access (139) (981) (1,120)
Real estate, network and
operations (77) (226) (303)
Third party maintenance (31) (59) (90)
Cost of equipment sales (50) (15) (65)
Total cost of revenue (297) (1,281) (1,578)
Selling, general and
administrative (61) (281) (342)
Depreciation and
amortization (50) (113) (163)
OPERATING INCOME (LOSS) 42 (254) (212)
OTHER INCOME (EXPENSE)
Interest expense, net (48) (41) (89)
Other income (expense), net 41 (29) 12
INCOME (LOSS) BEFORE
REORGANIZATION ITEMS,
NET AND INCOME TAXES 35 (324) (289)
Net gain on preconfirmation
contingencies - 32 32
INCOME (LOSS) FROM
CONTINUING OPERATIONS
BEFORE PROVISION
FOR INCOME TAXES 35 (292) (257)
Provision for income taxes (23) (44) (67)
NET INCOME (LOSS) 12 (336) (324)
Preferred stock dividends - (3) (3)
INCOME (LOSS) APPLICABLE
TO COMMON SHAREHOLDERS $12 $(339) $(327)
(1) Rest of World (ROW) represents operations of Global Crossing Limited
and subsidiaries excluding Global Crossing (UK) Telecommunications
Ltd. and subsidiaries (GCUK) and GC Impsat Holdings I Plc and
subsidiaries (GC Impsat).
Pro Forma Explanatory Note for 2006:
On October 11, 2006, GC Acquisitions, a wholly-owned subsidiary of Global
Crossing Limited and affiliate of Global Crossing (UK) Telecommunications
Ltd. (GCUK), took control of Fibernet Group Plc (Fibernet) and since that
date the results of Fibernet have been consolidated into the Global
Crossing's results. On December 28, 2006, a subsidiary of GCUK acquired
all of Fibernet's UK a operations. These unaudited pro forma tables have
been prepared on the basis that GCUK had acquired Fibernet's UK operations
on October 11, 2006.
On May 9, 2007, Global Crossing announced that it had acquired Impsat
Fiber Networks Inc., and since that date Impsat's results have been
consolidated into Global Crossing's results as GC Impsat.
Pursuant to the SEC's Regulation G, the following table provides a
reconciliation of Adjusted Cash EBITDA, which is considered a non-GAAP
(Generally Accepted Accounting Principles) financial metric, to net
income, which is the most directly comparable GAAP measure. Global
Crossing's calculation of its Adjusted Cash EBITDA measure may not
be consistent with EBITDA measures of other companies. Management
believes that Adjusted Cash EBITDA is a relevant indicator of operating
performance, especially in a capital-intensive industry such as
telecommunications. Adjusted Cash EBITDA is an important aspect of the
company's internal reporting and is also used by the investment community
in assessing financial performance. This non-GAAP measure should be used
in addition to, but not as a substitute for, the analysis provided in the
statement of operations.
Global Crossing Limited
Unaudited Pro Forma Reconciliation of Adjusted EBITDA to Net Loss
($ in millions)
Quarter Ended December 31, 2007
GCUK GC Impsat ROW(1) Total
Adjusted Cash EBITDA $43 $22 $35 $100
Non-cash stock compensation expense - (1) (3) (4)
Depreciation and amortization (22) (19) (37) (78)
Interest expense, net (15) (8) (11) (34)
Other income (expense), net (3) 4 12 13
Net gain on preconfirmation
contingencies, net - - 31 31
Income tax provision (9) (2) (15) (26)
Preferred stock dividends - - (1) (1)
Net income (loss) applicable to
common shareholders $(6) $(4) $11 $1
Quarter Ended December 31, 2006
GCUK ROW(1) Total
Adjusted Cash EBITDA $26 $(14) $12
Non-cash stock compensation expense - (6) (6)
Depreciation and amortization (18) (31) (49)
Interest expense, net (15) (10) (25)
Other income (expense), net 24 (9) 15
Net gain on preconfirmation
contingencies, net - 3 3
Income tax provision (22) (18) (40)
Preferred stock dividends - - -
Net income (loss) applicable to
common shareholders $(5) $(85) $(90)
Year Ended December 31, 2007
GCUK GC Impsat ROW(1) Total
Adjusted Cash EBITDA $147 $52 $(25) $174
Non-cash stock compensation expense (5) (2) (44) (51)
Depreciation and amortization (84) (41) (139) (264)
Interest expense, net (60) (21) (69) (150)
Other income (expense), net 2 3 10 15
Net gain on preconfirmation
contingencies, net - - 33 33
Income tax provision (11) (7) (45) (63)
Preferred stock dividends - - (4) (4)
Net income (loss) applicable to
common shareholders $(11) $(16) $(283) $(310)
Year Ended December 31, 2006
GCUK ROW(1) Total
Adjusted Cash EBITDA $93 $(118) $(25)
Non-cash stock compensation expense (1) (23) (24)
Depreciation and amortization (50) (113) (163)
Interest expense, net (48) (41) (89)
Other income (expense), net 41 (29) 12
Net gain on preconfirmation
contingencies, net - 32 32
Income tax provision (23) (44) (67)
Preferred stock dividends - (3) (3)
Net income (loss) applicable to
common shareholders $12 $(339) $(327)
(1) Rest of World (ROW) represents operations of Global Crossing Limited
and subsidiaries excluding Global Crossing (UK) Telecommunications
Ltd. and subsidiaries (GCUK) and GC Impsat Holdings I Plc and
subsidiaries (GC Impsat).
Pro Forma Explanatory Note for 2006:
On October 11, 2006, GC Acquisitions, a wholly-owned subsidiary of Global
Crossing Limited and affiliate of Global Crossing (UK) Telecommunications
Ltd. (GCUK), took control of Fibernet Group Plc (Fibernet) and since that
date the results of Fibernet have been consolidated into the Global
Crossing's results. On December 28, 2006, a subsidiary of GCUK acquired
all of Fibernet's UK a operations. These unaudited pro forma tables have
been prepared on the basis that GCUK had acquired Fibernet's UK operations
on October 11, 2006.
On May 9, 2007, Global Crossing announced that it had acquired Impsat
Fiber Networks Inc., and since that date Impsat's results have been
consolidated into Global Crossing's results as GC Impsat.
Definition:
Adjusted cash EBITDA is earnings before interest, taxes, depreciation and
amortization, other income/(expense), net, net gain on pre-confirmation
contingencies, preferred stock dividends and non-cash stock compensation.
Pursuant to the SEC's Regulation G, the following table provides
reconciliation of Adjusted Gross Margin, which is considered a non-GAAP
financial metric, to gross margin, which is the most directly comparable
GAAP measure. Management believes that Adjusted Gross Margin is a
relevant indicator of operating performance since it links revenue lines
with the largest and most directly related costs incurred to generate such
revenue. Adjusted Gross Margin should be used in addition to, but not as
a substitute for, the analysis provided in the statement of operations.
Global Crossing Limited and Subsidiaries
Unaudited Pro Forma Reconciliation of Adjusted Gross Margin to Gross
Margin
($ in millions)
Quarter Ended December 31, 2007
GCUK GC Impsat ROW(1) Eliminations Total
Adjusted gross margin $108 $69 $147 $(1) $323
Real estate, network and
operations (20) (15) (59) 1 (93)
Third party maintenance (8) (5) (15) - (28)
Cost of equipment sales (17) - (5) - (22)
Gross margin $63 $49 $68 $- $180
Quarter Ended December 31, 2006
GCUK ROW(1) Total
Adjusted gross margin $95 $119 $214
Real estate, network and
operations (24) (60) (84)
Third party maintenance (8) (15) (23)
Cost of equipment sales (19) (3) (22)
Gross margin $44 $41 $85
Year Ended December 31, 2007
GCUK GC Impsat ROW(1) Eliminations Total
Adjusted gross margin $413 $166 $539 $(3) $1,115
Real estate, network and
operations (96) (33) (259) 3 (385)
Third party maintenance (35) (12) (56) - (103)
Cost of equipment sales (62) (3) (23) - (88)
Gross margin $220 $118 $201 $- $539
Year Ended December 31, 2006
GCUK ROW(1) Total
Adjusted gross margin $311 $440 $751
Real estate, network and
operations (77) (226) (303)
Third party maintenance (31) (59) (90)
Cost of equipment sales (50) (15) (65)
Gross margin $153 $140 $293
(1) Rest of World (ROW) represents operations of Global Crossing Limited
and subsidiaries excluding Global Crossing (UK) Telecommunications
Ltd. and subsidiaries (GCUK) and GC Impsat Holdings I Plc and
subsidiaries (GC Impsat).
Pro Forma Explanatory Note for 2006:
On October 11, 2006, GC Acquisitions, a wholly-owned subsidiary of Global
Crossing Limited and affiliate of Global Crossing (UK) Telecommunications
Ltd. (GCUK), took control of Fibernet Group Plc (Fibernet) and since that
date the results of Fibernet have been consolidated into the Global
Crossing's results. On December 28, 2006, a subsidiary of GCUK acquired
all of Fibernet's UK a operations. These unaudited pro forma tables have
been prepared on the basis that GCUK had acquired Fibernet's UK operations
on October 11, 2006.
On May 9, 2007, Global Crossing announced that it had acquired Impsat
Fiber Networks Inc., and since that date Impsat's results have been
consolidated into Global Crossing's results as GC Impsat.
Definition: Adjusted gross margin is revenue minus cost of access.
Global Crossing Limited
Consolidated Balance Sheets
($ in millions)
December 31, December 31,
2007 2006
ASSETS:
Current assets:
Cash and cash equivalents $397 $459
Restricted cash and cash equivalents
- current portion 18 3
Accounts receivable, net of
allowances of $52 and $43 345 262
Prepaid costs and other current assets 121 84
Total current assets 881 808
Restricted cash and cash equivalents
- long term 35 3
Property and equipment, net of
accumulated depreciation of $664
and $407 1,467 1,132
Intangible assets, net (including
goodwill of $158 and $2) 193 26
Other assets 91 86
Total assets $2,667 $2,055
LIABILITIES:
Current liabilities:
Short term debt $- $6
Accounts payable 286 283
Accrued cost of access 107 107
Current portion of long term debt 26 6
Accrued restructuring costs -
current portion 17 30
Deferred revenue - current portion 164 139
Other current liabilities 395 336
Total current liabilities 995 907
Debt with controlling shareholder - 275
Long term debt 1,249 661
Obligations under capital leases 123 106
Deferred revenue 262 163
Accrued restructuring costs 20 61
Other deferred liabilities 81 77
Total liabilities 2,730 2,250
SHAREHOLDERS' DEFICIT:
Common stock, 110,000,000 and
85,000,000 shares authorized, $.01
par value, 54,552,045 and 36,609,236
shares issued and outstanding as of
December 31, 2007 and 2006, respectively 1 -
Preferred stock with controlling
shareholder, 45,000,000 shares
authorized, $.10 par value, 18,000,000
shares issued and outstanding as of
December 31, 2007 and 2006 2 2
Additional paid-in capital 1,307 857
Accumulated other comprehensive loss (42) (29)
Accumulated deficit (1,331) (1,025)
Total shareholders' deficit (63) (195)
Total liabilities and shareholders' deficit $2,667 $2,055
Global Crossing Limited
Consolidated Statements of Cash Flows
($ in millions)
Year Ended December 31,
2007 2006
Cash flows provided by (used in)
operating activities:
Net loss $(306) $(324)
Adjustments to reconcile net loss to
net cash used in operating activities:
Loss on sale of property and equipment 1 2
Gain on sale of marketable securities - (1)
Non-cash income tax provision 45 45
Deferred income tax 9 21
Non-cash stock compensation expense 51 24
Non-cash inducement charge for
conversion of debt 30 -
Gain on settlement of contracts due
to Fibernet acquisition - (16)
Gain on settlement of contracts due
to Impsat acquisition (27) -
Depreciation and amortization 264 163
Provision for doubtful accounts 6 3
Amortization of prior period IRUs (12) (7)
Deferred reorganization costs - (3)
Gain on preconfirmation contingencies (33) (32)
Changes in long term deferred revenue 102 24
Changes in operating working capital (56) 35
Other (89) 3
Net cash used in operating activities (15) (63)
Cash flows provided by (used in)
investing activities:
Purchases of property and equipment (214) (99)
Purchases of marketable securities - (20)
Fibernet acquisition, net of cash acquired - (79)
Impsat acquisition, net of cash acquired (76) -
Proceeds from sale of marketable securities 7 4
Proceeds from sale of equity interest
in holding companies - 19
Change in restricted cash and
cash equivalents (47) 18
Net cash used in investing activities (330) (157)
Cash flows provided by (used in)
financing activities:
Proceeds from long term debt 597 255
Proceeds from issuance of common stock - 240
Repayment of capital lease obligations (43) (19)
Proceeds from short term debt - 6
Repayment of long term debt
(including current portion) (251) (8)
Finance costs incurred (24) (24)
Proceeds from exercise of stock options 4 5
Net cash provided by (used in)
financing activities 283 455
Net increase (decrease) in cash and
cash equivalents (62) 235
Cash and cash equivalents, beginning
of year 459 224
Cash and cash equivalents, end of
year $397 $459
Global Crossing
CONTACT: Press Contacts: Becky Yeamans, +1-973-937-0155, PR@globalcrossing.com, or Fernanda Marques, Latin America, +55-11-3957-2042, LatAmPR@globalcrossing.com, or Jo Baker, Europe, +44(0)1256-732387, EuropePR@globalcrossing.com; Analysts/Investors Contacts: Suzanne Lipton, +1- 800-836-0342, glbc@globalcrossing.com, Gino Mathew, +1-800-836-0342, glbc@globalcrossing.com
Web site: http://www.globalcrossing.com/
Investools' Brokerage and Education Metrics for February 2008
NEW YORK, March 12 /PRNewswire-FirstCall/ -- Investools Inc. , a leading provider of online brokerage technology and investor education services, announced performance metrics for February 2008.
"Investools' thinkorswim online brokerage segment produced another month of strong growth in all of its operating metrics under highly volatile market conditions. New accounts opened and retail DARTs posted triple-digit increases as compared with the year-ago period, while client assets climbed to $2.59 billion," said Lee K. Barba, Chairman and CEO of Investools. "The investor education segment produced 70% sequential month growth in graduates. We continue to forecast a record year for graduate acquisition as we introduce new pricing initiatives to drive additional volume."
thinkorswim, Inc.
-- New accounts opened* of 7,600. Total accounts opened* of 139,800; 137%
higher than February 2007
-- New funded accounts of 3,275; 22% higher than February 2007
-- Retail DARTs of 41,100; 163% higher than February 2007
-- Active Trader DARTs of 33,000; 73% higher than February 2007
-- Client assets of $2.59 billion at month-end; 101% higher than February
2007
Investor Education Group
-- Total paid graduates of 3,700, compared to 4,720 in February 2007
-- Active subscribers at month-end of 104,500, compared to 89,500 in
February 2007
*accounts opened represents accounts that have initiated the application process with the intent to fund.
About Investools
Investools Inc. offers market-leading investor education and brokerage and related financial products and services for self-directed investors. Investools Education Group offers a full range of investor education products and services that provide lifelong learning in a variety of interactive delivery formats, including instructor-led synchronous and asynchronous online courses, in-person workshops, one-on-one and one-to-many online coaching programs and telephone, live-chat and email support. thinkorswim Inc., Investools' financial technology pioneer and industry-leading online brokerage firm, is focused on providing services to self-directed options traders and active traders. thinkorswim offers customers a broad range of products including equity securities, fixed income, index products, options, futures, other derivatives and foreign exchange. thinkorswim provides unique front end trading platforms that allow its customers to trade electronically and provides sophisticated trading tools and analytics, including tools for implementing complex, multi-leg options strategies. The products and services offered by Investools Inc. have received numerous accolades from third parties including thinkorswim's ranking by Barron's as its top rated software-based online broker and best for options traders (2007 & 2008), and Prophet's top Barron's ranking for best technical analysis tools (2007).
Safe Harbor
This press release may contain forward-looking statements. Such forward- looking statements may be identified by words such as "believe," "intend," "expect," "may," "could," "would," "will," "should," "plan," or similar statements. All forward-looking statements are based largely on current expectations, beliefs and assumptions concerning future events that are subject to substantial risks and uncertainties. These risks and uncertainties include, but are not limited to: general changes in economic conditions and changes in conditions affecting the financial services industry specifically, regulatory developments that affect the way we market or sell our products and services, our inability to protect our proprietary technology, our ability to sell existing products and services in both new and existing markets, and other factors which are more fully described in Investools filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, actual results may vary in material aspects from those currently anticipated. The forward-looking statements made in this press release relate only to events as of the date of this release. We undertake no ongoing obligation to update these statements.
Investor Contact:
Ida Kane, SVP and CFO
801.816.6918
ida.kane@investools.com
Media Contact:
Fran Del Valle
212.717.5499
frances.delvalle@influencecentral.com
Investools Inc.
CONTACT: Investors, Ida Kane, SVP and CFO, +1-801-816-6918, ida.kane@investools.com, or Media, Fran Del Valle, +1-212-717-5499, frances.delvalle@influencecentral.com, both for Investools Inc.
Perfect World Launched 'Zi Long's Spear' Expansion Pack for 'Chi Bi' on February 28
BEIJING, March 12 /Xinhua-PRNewswire/ -- Perfect World Co., Ltd. ("Perfect World" or the "Company"), a leading online game developer and operator in China, today announced that it launched "Zi Long's Spear" expansion pack on February 28, 2008 for "Chi Bi," the Company's first MMORPG based on Chinese history, the famous Three Kingdoms period. Various brand new elements are expected to lead online game players to a world with more interactive pleasures.
"Chi Bi" has been attracting domestic online players' interest since the launch of open beta testing on January 25, 2008. As a result, domestic online game players' attention has been drawn to the Three Kingdoms period. The major update included in "Zi Long's Spear" shows Perfect World's appreciation to online game players for their continuous support.
"Zi Long's Spear" includes the brand new "PVE Battlegrounds System," the new daily missions, "Serial Actions System," "Charms Socketing System," "Armory Set System," advanced "Reputation System" and "Title System," and spear and feather fan under "18 Legendary Weapon System." The quick launch of the expansion pack also demonstrates the Company's powerful game development platform, provides access for online game players to traditional Chinese culture, and promotes the idea of creating a healthy online game environment.
"As the Company's first MMORPG based on Chinese history, the famous Three Kingdoms period, we hope 'Chi Bi' can also serve as a vehicle for promoting traditional Chinese culture," commented Mr. Michael Chi, Chairman and Chief Executive Officer of Perfect World. "We have seen positive feedback since the launch of 'Chi Bi,' which has encouraged us to aggressively enhance the in- game experiences. We believe that the expansion pack will bring more enjoyment to online game players and help the world recognize Chinese culture as well as our efforts at promoting it."
About Perfect World Co., Ltd. ( http://www.pwrd.com/ )
Perfect World Co., Ltd. is a leading online game developer and operator in China. Perfect World primarily develops three-dimensional ("3D") online games based on the proprietary Angelica 3D game engine and game development platform. The Company's strong technology and creative game design capabilities, combined with extensive local knowledge and experience, enable it to frequently and rapidly introduce popular games designed to cater to changing customer preferences and market trends in China. The Company's current portfolio of self-developed 3D massively multiplayer online role playing games ("MMORPGs") includes "Perfect World," "Legend of Martial Arts," "Perfect World II," "Zhu Xian" and "Chi Bi." The Company uses a time-based revenue model for "Perfect World," and an item-based revenue model for "Legend of Martial Arts," "Perfect World II," "Zhu Xian" and "Chi Bi." While most revenues are generated in China, the Company's games have been licensed to leading game operators in more than ten countries and regions. The Company plans to continue to explore new and innovative business models and remains deeply committed to maximizing shareholder value over time.
Safe Harbor Statements
This press release contains forward-looking statements. These statements constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "future," "plans," "believes" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, our limited operating history, our ability to protect our intellectual property rights, our ability to respond to competitive pressure, and changes of the regulatory environment in China. Further information regarding these and other risks is included in Perfect World's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1. Perfect World does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For further information, please contact
Perfect World Co., Ltd.
Vivien Wang
Investor Relations Officer
Tel: +86-10-5885-1813
Fax: +86-10-5885-6899
Email: ir@pwrd.com
Web: http://www.pwrd.com/
Christensen Investor Relations
Peter Homstad
Tel: +1-480-614-3026
Fax: +1-480-614-3033
Email: phomstad@christensenir.com
Jung Chang
Tel: +852-2117-0861
Fax: +852-2117-0869
Email: jchang@christensenir.com
Perfect World Co., Ltd.
CONTACT: Vivien Wang, Investor Relations Officer of Perfect World Co., Ltd., +86-10-5885-1813, or fax, +86-10-5885-6899, or ir@pwrd.com; Or Peter Homstad, +1-480-614-3026, or fax, +1-480-614-3033, or phomstad@christensenir.com; Or Jung Chang, +852-2117-0861, or fax, +852-2117- 0869, or jchang@christensenir.com, both of Christensen Investor Relations for PWRD
China Public Security Technology, Inc. Files Application for NASDAQ Listing
SHENZHEN, China, March 12 /Xinhua-PRNewswire-FirstCall/ -- China Public Security Technology, Inc., (BULLETIN BOARD: CPBY) ("China Public Security" or the "Company"), a leading provider of public security information technology and Geographic Information Systems ("GIS") software services, today announced it has filed an application to list its common stock on the NASDAQ Global Market.
"This application is an important milestone for our company. Since becoming publicly traded, we have delivered consistent, positive revenue and net income growth. We set a goal to upgrade to a major exchange during 2008 and we are working diligently with NASDAQ to meet all of the listing requirements," commented Mr. Jiang Huai Lin, CEO of China Public Security. "The NASDAQ is a prestigious market that is well suited for growth companies such as China Public Security that meet its stringent listing requirements. We believe the successful exchange upgrade of our common stock will enhance our profile in the US capital markets as well as enhance the visibility and marketability of our shares."
About China Public Security Technology, Inc.
Through its wholly-owned Chinese subsidiary, China Public Security is focused on the development and implementation of large scale, high-tech public security and Geographic Information System ("GIS") related projects. The Company provides a broad portfolio of fully integrated solutions and services, including public security information technology (First Responder Coordination Platform, Intelligent Border Control and Intelligent Security Surveillance), Geographic Information System (Police-use GIS and Civil-use GIS), and e- Government Platform services, software sales and maintenance. Through its exclusive contractual arrangement with Shenzhen iASPEC Software Engineering Company Limited (iASPEC), China Public Security has the licenses to 16 registered and copyrighted software applications in China. In addition, iASPEC is considered the Company's variable interest entity, and its financial data and information is consolidated into the Company's accounts. To learn more about the Company, please visit the corporate website at http://www.chinacpby.com/ .
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of China Public Security Technology, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding the ability of the Company to achieve its commercial objectives, the business strategy, plans and objectives of the Company and its subsidiaries and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov/ ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Company Contact:
Mr. Michael Lin
Vice President, Investor Relations
China Public Security Technology, Inc.
Tel: +1-949-743-0868
Email: mlin@chinacpby.com
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Elite Investor Relations
Tel: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
China Public Security Technology, Inc.
CONTACT: Company Contact - Mr. Michael Lin, Vice President, Investor Relations, China Public Security Technology, Inc., +1-949-743-0868, or mlin@chinacpby.com; Investor Relations Contact - Mr. Crocker Coulson, President, CCG Elite Investor Relations, +1-646-213-1915 (NY office), or crocker.coulson@ccgir.com
Web site: http://www.chinacpby.com/
Rainmaker to Present at Sidoti & Company Emerging Growth Investor Conference in New York City
CAMPBELL, Calif., March 12 /PRNewswire-FirstCall/ -- Rainmaker Systems, Inc. , a leading provider of sales and marketing solutions combining hosted application software and execution services, today announced that Steve Valenzuela, Chief Financial Officer, will present at the Sidoti & Company 12th Annual New York Emerging Growth Institutional Investor Forum in New York City on Tuesday, March 25th at 9:40 a.m. (Eastern). The Conference is being held at The Grand Hyatt Hotel, New York City.
Conference Details
Sidoti & Company 12th Annual New York Emerging Growth Institutional
Investor Forum
March 25 & 26, 2008
The Grand Hyatt Hotel, New York City
About Rainmaker
Rainmaker Systems, Inc. delivers sales and marketing solutions, combining hosted application software and execution services designed to drive more revenue for our clients. Our Revenue Delivery Platform(SM) combines proprietary, on-demand application software and advanced analytics with specialized sales and marketing execution services. Rainmaker clients include large enterprises in a range of industries, including computer hardware and software, telecommunications, and financial services industries. For more information, visit http://www.rmkr.com/ or call 800-631-1545.
NOTE: Rainmaker Systems, the Rainmaker logo, Sunset Direct and Contract Renewals Plus are registered with the U.S. Patent and Trademark Office. All other service marks or trademarks are the property of their respective owners.
This press release contains forward-looking statements regarding future events. These forward-looking statements are based on information available to Rainmaker as of this date and they assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance, and actual results could differ materially from current expectations. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are general market conditions, unfavorable economic conditions, our ability to execute our business strategy, our ability to integrate acquisitions without disruption to our business, the effectiveness of our sales team and approach, our ability to target, analyze and forecast the revenue to be derived from a client and the costs associated with providing services to that client, the date during the course of a calendar year that a new client is acquired, the length of the integration cycle for new clients and the timing of revenues and costs associated therewith, our client concentration given that we are currently dependent on a few significant client relationships, our ability to expand our channel hosted contract solution and drive adoption of this solution by resellers, potential competition in the marketplace, the ability to retain and attract employees, market acceptance of our service programs and pricing options, our ability to maintain our existing technology platform and to deploy new technology, our ability to sign new clients and control expenses, the possibility of the discontinuation and/or realignment of some client relationships, and the financial condition of our clients' businesses, and other factors detailed in the Company's filings with the Securities and Exchange Commission, including our filings on Forms 10-K and 10-Q.
Rainmaker Systems, Inc.
CONTACT: Steve Valenzuela, Chief Financial Officer of Rainmaker Systems, Inc., +1-408-626-2439, stevev@rmkr.com; or Todd Kehrli or Jim Byers, Investor Relations, both of MKR Group, Inc., +1-323-468-2300, rmkr@mkr-group.com, for Rainmaker Systems, Inc.
Web site: http://www.rmkr.com/
Comarco Announces Leadership TransitionSam Inman, Director, Named Interim President and CEOJeff Hultman Named Lead Director
LAKE FOREST, Calif., March 12 /PRNewswire-FirstCall/ -- Comarco, Inc. today announced the appointment of Samuel M. Inman III, 56, as Interim President and Chief Executive Officer, effective March 10, 2008. He replaces Thomas A. Franza, who has left the Company as well as the Board of Directors and will become a consultant to Comarco.
The Company also reported the naming of Jeffrey R. Hultman, 68, as Lead Director of the Board, following the resignation of its Chairman, Erik H. van der Kaay from the Board of Directors on March 10, 2008. Following these leadership changes, the Comarco Board is now comprised of five members and the Chairman position will not be filled at this time. The Company also announced that the Board of Directors has dissolved its Executive Committee, established in June 2007. "The entire Board would like to thank Tom and Erik for their years of service to Comarco and wish them well in their future endeavors," said Mr. Hultman.
"With Sam's appointment and the appointment of the two directors who joined us last week, the Company has new dynamism and focus on enhancing shareholder value," continued Mr. Hultman. "This leadership transition positions the Company to more aggressively develop and pursue alternatives that we expect will drive enhanced returns to shareholders from our three business lines: ChargeSource(TM), WTS and Call Box. Sam's experience in the PC and related peripherals industry, his track record of success, and knowledge of Comarco's businesses from his service on the Board since last July, make him the ideal candidate to lead the Company today."
"I look forward to working as part of the Comarco team to capitalize on the significant opportunities ahead," said Mr. Inman. "The recent agreement with Lenovo for our new, ultra-lightweight ChargeSource(TM) adapter, and recent introduction of the next-generation QoS (Quality of Service) system, our first offering with our partner Ascom, are two very significant steps. We will continue to focus on driving success in our three businesses and remain fully committed to building shareholder value."
Mr. Inman worked for IBM for 20 years, beginning in 1972, in a variety of senior management positions, including President of IBM PC Company, Americas, as well as President of the National Distribution Division. Since leaving IBM in 1993, he has served in executive level positions with several technology companies, including President and COO of Ingram Micro, President and CEO of Centura Software Corporation, Co-CEO and Chairman of the Board of Advisors to Viking Components, Inc. until the company was sold to Sanmina-SCI in 2002, and Executive Chairman of Think Outside until the company was sold to Mobility Electronics in June 2006. Mr. Inman holds a B.S. in Mathematics from Purdue University and an Executive Program Certification -- Director Training from the Anderson School of Management at the University of California, Los Angeles.
Mr. Hultman is CEO and a director of IPTV Corporation (Pink Sheets: IPTV), an interactive television company developing video commerce technologies, a position he has held since October 2007. From 2005 to May 2007, he served as CEO and a director of Siena Technologies, Inc., a company that designs and deploys wireless technology and specialty communication systems. From 2002 to 2004, he served as CEO of Edge Focus, Inc., a high speed wireless internet company. From 1998 to 2002, Mr. Hultman was a partner in Big Bear Sports Ranch, a sports summer camp for school age children. He was CEO of Dial Page, Inc., a provider of wireless telecommunications throughout the southeastern U.S. from 1991 through 1996. Prior to 1991, Mr. Hultman was CEO of PacTel Cellular.
About Comarco
Based in Lake Forest, Calif., Comarco is a leading provider of innovative mobile power solutions through its ChargeSource(TM) line of multi-function universal mobile power products which can simultaneously power and charge multiple devices such as notebook computers, mobile phones, iPods(R), and many other rechargeable mobile devices. Comarco is also a provider of wireless test solutions and wireless emergency call box systems. More information about Comarco's product lines can be found at http://www.comarco.com/ and http://www.chargesource.com/.
Comarco, Inc.
CONTACT: Dan Lutz, EVP & CFO of Comarco, Inc., +1-949-599-7556, dlutz@comarco.com; or investors, Doug Sherk, dsherk@evcgroup.com, or Jenifer Kirtland, jkirtland@evcgroup.com, both of EVC Group, +1-415-896-6820, for Comarco, Inc.
Web site: http://www.comarco.com/ http://www.chargesource.com/
Aladdin eSafe Wins Highest Five-Star Rating From SC MagazineSC Magazine gives Aladdin eSafe a perfect rating in every category, Labels leading Web security product a solid gateway malware protection solution
CHICAGO, March 12 /PRNewswire-FirstCall/ -- Aladdin Knowledge Systems , an information security leader specializing in authentication, software DRM and content security, today announced Aladdin eSafe received a perfect five-star rating in every category of SC Magazine's March 2008 anti-malware Group Test, recognizing Aladdin eSafe's real-time protection and "full gambit of email and web safeguards."
(Logo: http://www.newscom.com/cgi-bin/prnh/20040416/CGALADDINLOGO)
Judged on features, ease of use, performance, documentation, support and value for money, Aladdin eSafe was awarded the highest ranking in each SC Magazine category, leading to a perfect overall rating. SC Magazine Technology Editor Peter Stephenson called eSafe, "Easy to manage with a full feature set... This product is an excellent value for the money for almost any size organization looking for solid gateway malware protection."
"I am pleased to see eSafe praised so highly by a publication that is respected worldwide by IT security professionals," said Tsion Gonen, vice president of the Aladdin eSafe business unit. "Aladdin eSafe's recognition further reinforces our dedication to providing our customers with quality products and quality support that meet and advance their objectives."
For the full review, visit http://www.scmagazineus.com/.
About Aladdin eSafe
Aladdin eSafe protects against Web-based malware and zero-day threats through an in-line, wire-speed secure Web gateway featuring powerful anti-spyware, application level controls, and URL filtering. eSafe also controls spam and inspects SMTP and POP3 traffic though a proactive email security gateway. Visit http://www.aladdin.com/eSafe.
About Aladdin
Aladdin Knowledge Systems' Software Rights Management products are the #1 choice of software developers and publishers to protect intellectual property, increase revenues, and reduce losses from software piracy. Aladdin eToken is the world's #1 USB-based authentication solution. The Aladdin eSafe secure Web gateway provides the most advanced protection against the latest Web-based threats and attacks. Aladdin has offices in 12 countries, a worldwide network of channel partners, and has won numerous awards for innovation. For more information, visit the Aladdin Web site at http://www.aladdin.com/.
(C) 2008 Aladdin Knowledge Systems, Ltd. All rights reserved. eSafe, Aladdin Knowledge Systems and the Aladdin logo are trademarks or registered trademarks of Aladdin Knowledge Systems, Ltd. All other product and brand names mentioned in this document are trademarks or registered trademarks of their respective owners.
Press Contact: Investor Relations Contact:
Matthew Zintel Erik Knettel / Andrea Costa
Zintel Public Relations Global Consulting Group
matthew.zintel@zintelpr.com aladdin@hfgcg.com
310.574.8888 646.284.9400
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Aladdin Knowledge Systems
CONTACT: Matthew Zintel of Zintel Public Relations, +1-310-574-8888, matthew.zintel@zintelpr.com; or Investor Relations, Erik Knettel or Andrea Costa, both of Global Consulting Group, +1-646-284-9400, aladdin@hfgcg.com, all for Aladdin Knowledge Systems
Web site: http://www.aladdin.com/ http://www.scmagazineus.com/
MTV Networks International, Paramount Digital Entertainment and Dickhouse Productions to Debut Digital and Film Launches of Hit MTV Franchise Jackass InternationallyInternational Roll-Out to Include Simultaneous Regional Launches of Dedicated JACKASSWORLD.com Website and JACKASS 2.5 Film on DVD and Online
NEW YORK, March 12 /PRNewswire/ -- On the heels of the successful U.S. release, MTV Networks International, Paramount Digital Entertainment, both part of Viacom Inc. , and Dickhouse Productions today announced the international roll-out of JACKASSWORLD.com, a new online community for the Jackass franchise and JACKASS 2.5, the first ever, studio- backed feature film to premiere and be streamed in its entirety online. JACKASS 2.5 will be available online at JACKASSWORLD.com and on DVD. Rolling out first on Wednesday, March 12 in the UK, Italy and Spain, the film and website will debut region by region in eight other territories, including Australia, Brazil, France, Germany, Japan, Mexico, Netherlands, and Nordic in the days and months following.
A joint venture between MTV and Dickhouse Productions, JACKASSWORLD.com is a single global destination for all Jackass content, dynamically localized for all participating regions. Available in over 30 languages, JACKASSWORLD.com is the definitive place where fans can unite with each other, as well as interact with the Jackass cast and crew. JACKASSWORLD.com will feature all three seasons of the Jackass and Wildboyz series, all new and original programming with the cast, editorial features, webisodes, never-before-seen footage, contests, nonsense and other scatological trivialities. Additionally, the site will feature mobile applications, games and a Jackass-take on emerging new media and social networking technologies.
"The hilarious and cringe-inducing antics of the Jackass phenomenon transcend audiences and languages across the globe and in response to this, we're intent on constantly creating original new content everywhere our audience is," said Gideon Bierer, Senior Vice President, MTV Networks International. "The JACKASSWORLD community engages and connects these audiences worldwide with a deeper experience, allowing fans to relive favorite moments, explore behind-the-scenes footage and unprecedented access to the cast."
Available on the JACKASSWORLD community, JACKASS 2.5 is every bit as unbelievable as the preceding movies, combining stunts, pranks and all new lows. Created by MTV New Media and Paramount Digital Entertainment, JACKASS 2.5 includes never-before-seen footage and interviews and features long- standing cast members Johnny Knoxville, Bam Margera, Chris Pontius, Dave England, Steve-O, Ehren McGhehey, Jason "Wee Man" Acuna, Preston Lacy and Ryan Dunn.
In just over two months, fans have watched nearly 4.5MM behind-the-scenes, archival and user-generated videos on JACKASSWORLD.com, while streams of Jackass 2.5 have fast approached the 3MM mark. The site also is proving to be deeply engaging: the average viewer spends nearly 11 minutes on the site at a time and initiates nearly 5 video streams per session.
"We are incredibly pleased with the way U.S. audiences have received Jackass 2.5 since its online premiere," states Alex Carloss, Executive Vice President and General Manager Worldwide Digital Distribution, Paramount Digital Entertainment. "We now are looking forward to rolling out this one- of-a-kind digital property to the rest of the world."
"When we set out to make jackass number two, we made more than a movie - we made almost two movies. All the guys were so red hot, we just couldn't stop filming," said Jeff Tremaine, Producer and Co-Creator of Jackass. "Now with JACKASS 2.5, we finally have a great way to release the rest of this movie- worthy footage."
Simultaneously launching with the JACKASSWORLD community and JACKASS 2.5, the unrated JACKASS 2.5 DVD, from Paramount Home Entertainment, will be available for purchase at all major DVD retailers, as well on JACKASSWORLD.com. A full-blown, full-length DVD that includes totally unrated stunts never before seen, the JACKASS 2.5 Unrated DVD is stuffed with over an hour of special features exclusive to the DVD, including 16 bonus segments and The Making of JACKASS 2.5.
About MTV Networks International
MTV Networks International includes the premier multimedia entertainment brands MTV: Music Television, VH1, Nickelodeon, TMF (The Music Factory), VIVA, Flux, Paramount Comedy, Comedy Central, Game One, Neopets, GameTrailers, Shockwave, Addicting Games, Atom Films and Xfire. MTV Networks' brands are seen globally in 560 million households in 162 countries and 33 languages via more than 150 locally programmed and operated TV channels and more than 350 digital media properties. The company's diverse holdings also include interests in television syndication, digital media, publishing, home video, radio, recorded music, licensing & merchandising and two feature film divisions, MTV Films and Nickelodeon Movies. MTV Networks is a unit of Viacom Inc. .
About Paramount Digital Entertainment
Paramount Digital Entertainment (PDE) is a division of Paramount Pictures Corporation. PDE develops and distributes filmed entertainment across worldwide digital distribution platforms including online, mobile and portable devices, videogames, virtual worlds and emerging technologies. Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom , a leading content company with prominent and respected film, television and digital entertainment brands. The company's labels include Paramount Pictures, Paramount Vantage, Paramount Classics, DreamWorks, MTV Films and Nickelodeon Movies. PPC operations also include Paramount Digital Entertainment, Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing Inc., Paramount Studio Group, and Worldwide Television Distribution.
About Paramount Home Entertainment
Paramount Home Entertainment (PHE) is part of Paramount Pictures Corporation, a unit of Viacom , a global entertainment company that produces and distributes filmed entertainment through the Paramount Motion Picture Group. PHE is responsible for the worldwide sales, marketing and distribution of home entertainment products on behalf of various parties including: Paramount Pictures, DreamWorks SKG, Paramount Vantage, Paramount Classics, Nickelodeon, MTV, Comedy Central, CBS, PBS and Hasbro and for providing home entertainment fulfillment services for DreamWorks Animation Home Entertainment.
MTV Networks International
CONTACT: Sandra Lee, MTV Networks International, +1-212-846-6261, Sandra.Lee@mtvn.com; Martin Blythe, Paramount Pictures, +1-818-906-2448, mblythe@socal.rr.com; or Jodi Lederman, Paramount Digital Entertainment, +1-310-205-0618, Jodi_Lederman@paramount.com
T-Mobile(R) Sidekick(R) Announces Partnership With The Recording Academy(R) to Create the 50th GRAMMY(R) Celebration Concert TourThe GRAMMY(R)s' 50th Anniversary Celebration Continues with a First-Ever, Five-City Concert Tour Featuring GRAMMY-Nominated and -Winning Performers
LOS ANGELES, March 12 /PRNewswire/ -- T-Mobile USA, Inc. and The Recording Academy(R) have announced the 50th GRAMMY(R) Celebration Concert Tour presented by T-Mobile(R) Sidekick(R). The tour will provide music and Sidekick fans exclusive access to a concert tour featuring a broad lineup of GRAMMY-nominated and -winning artists. The five-city tour will kick-off on April 3 in Chicago with a performance by five-time GRAMMY winner John Legend and will continue onto New York then Miami. The tour will make its final stops in Dallas and Los Angeles. Details on the scheduled performers, who will include artists in rock, pop, R&B, hip-hop, country and Latin, and the confirmed performance dates will be revealed in March via http://www.sidekick.com/ and http://www.grammy.com/.
The 50th GRAMMY Celebration Concert Tour presented by T-Mobile Sidekick will be a unique musical experience that not only honors The Recording Academy's extraordinary heritage, but provides music fans and Sidekick customers the opportunity to be a part of a truly exclusive concert experience.
"T-Mobile's Sidekick fans have always been on the cutting-edge of music and entertainment, so this exclusive concert series is a fantastic way to show them our appreciation for their enthusiasm and loyalty," said Mike Belcher, Director of Integrated Marketing, T-Mobile USA, Inc. "T-Mobile's collaboration with The Recording Academy will deliver a special experience exclusively to Sidekick enthusiasts across the nation."
"Through this new partnership, The Recording Academy continues its 50th Anniversary activities, and provides music fans the opportunity to be part of the celebration," said Evan Greene, Chief Marketing Officer of The Recording Academy. "With T-Mobile, we will bring music, entertainment and social communication together, building an important foundation for today's youthful consumers."
A limited portion of tickets for the performances will be available only through special, in-store contest giveaways at select T-Mobile retail locations in the five concert cities. Consumers will also have the chance to enter to win a VIP concert package online at the official Sidekick homepage. No purchase is necessary to enter or win the VIP concert package. For information on the contest, participating T-Mobile retail locations and how to obtain tickets, please visit http://www.sidekick.com/.
With its signature swivel screen and full QWERTY keyboard, the T-Mobile Sidekick family of devices are designed for virtually anytime, anywhere communication. With always-on access to e-mail, instant messaging and text messaging, as well as a robust web experience to access sites such as MySpace, Sidekicks provide the luxury of being the center of one's social circle.
The 50th Annual GRAMMY Awards was broadcasted live on Feb. 10, 2008 from the STAPLES Center Los Angeles on the CBS Television Network, and was distributed internationally to more than 160 countries.
About The Recording Academy
Established in 1957, The Recording Academy is an organization of musicians, producers, engineers and recording professionals that is dedicated to improving the cultural condition and quality of life for music and its makers. Internationally known for the GRAMMY Awards -- the preeminent peer-recognized award for musical excellence and the most credible brand in music -- The Recording Academy is responsible for groundbreaking professional development, cultural enrichment, advocacy, education and human services programs. In its 50th year, The Academy continues to focus on its mission of recognizing musical excellence, advocating for the well-being of music makers and ensuring music remains an indelible part of our culture. For more information about The Academy, please visit http://www.grammy.com/.
About T-Mobile USA, Inc.
Based in Bellevue, Wash., T-Mobile USA, Inc., is the U.S. operation of Deutsche Telekom AG's Mobile Communications Business, and a wholly owned subsidiary of T-Mobile International, one of the world's leading companies in mobile communications. By the end of the fourth quarter of 2007, 120 million mobile customers were served by the mobile communication segments of the Deutsche Telekom group -- 28.7 million by T-Mobile USA -- all via a common technology platform based on GSM, the world's most widely used digital wireless standard. T-Mobile's innovative wireless products and services help empower people to connect effortlessly to those who matter most. Multiple independent research studies continue to rank T-Mobile highest, in numerous regions throughout the U.S. in wireless customer care. For more information, please visit http://www.t-mobile.com/. T-Mobile is a federally registered trademark of Deutsche Telekom AG. Sidekick is a federally registered trademark of T-Mobile USA, Inc.
T-Mobile USA, Inc.
CONTACT: T-Mobile Media Relations of T-Mobile USA, Inc., +1-425-378-4002, mediarelations@t-mobile.com; or Tania Kingsrud of BNC, +1-310-854-4800, tkingsrud@bncpr.com, for T-Mobile USA, Inc.; or Jaime Sarachit of The Recording Academy, +1-310-392-3777, jaime.sarachit@grammy.com
Web site: http://www.t-mobile.com/ http://www.grammy.com/ http://www.sidekick.com/
The Motley Fool and MSN Money Combine Resources to Create 'Fantasy' Stock ChallengeThe Motley Fool CAPS MSN Stock Challenge gives consumers a chance to beat the market, win $15,000 in cash and compete for exclusive getaways.
REDMOND, Wash., March 12 /PRNewswire-FirstCall/ -- The Motley Fool and Microsoft Corp. today announced the kickoff of The Motley Fool CAPS MSN Stock Challenge, an online investment contest created in response to the increasing popularity of the CAPS stock rating service on MSN. Contestants in The Motley Fool CAPS MSN Stock Challenge will create their own "fantasy" stock portfolio using the information from the CAPS community of investors, and then see how their portfolio performs over a period of 15 weeks. Through the competition, contestants will be able to learn about smart investment choices without risking real money while competing for amazing prizes weekly and a grand prize of $15,000 cash.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)
MSN Charm Quest
To win The Motley Fool CAPS MSN Stock Challenge, contestants must earn five charms in the MSN Charm Quest. Players are awarded charms throughout the course of the competition by completing certain tasks such as creating a blog or by reaching certain measurements of success such as having a stock pick with a score of 100 or more. The winners will be the three entrants who have earned all five charms and achieved the greatest increase in their portfolio value as measured from March 12, 2008, through June 26, 2008. The grand prize winner will receive $15,000 cash and the title of MSN CAPS Champ; the first runner-up will receive a four-day, three-night trip to New York; and the second runner-up will receive a four-day, three-night trip to Las Vegas.
In addition to a chance to win these prizes, all participants will be entered into a weekly sweepstakes to have a chance to win prizes such as gift cards, flat-panel TVs and much more. New CAPS users will earn a sweepstakes entry for registering for MSN CAPS and making seven stock picks, and earn an additional entry each time they log in. More information about the contest, including full official rules, is available at http://stockchallenge.msn.com/.
"The MSN stock challenge is a great way for investors to both learn and put their investment ideas to work," said John Keeling, senior vice president of Fool.com. "With the addition of CAPS community-generated stock ratings to the other financial tools found on MSN Money, anyone can get the information they need to create a stellar profile."
"Cool, innovative new ways to help our consumers make smart financial decisions is what MSN Money is all about, and through this fun, fantasy game-like experience with The Motley Fool, we are doing exactly that in the investing arena," said Chris Jolley, group manager for the Financial Products Group at Microsoft. "This is especially important given the current market conditions. We're also excited to strengthen our relationship with The Motley Fool and continue collaborating with the company to help make the important task of investor education more fascinating."
The Motley Fool CAPS on MSN is already one of the most popular services that rates stocks and tracks professional and individual investors to help provide market-beating investment ideas. Powered by a unique process, CAPS is a powerful yet easy-to-use research tool that harnesses investor sentiment and recommendations in real time, with more than 5,000 rated stocks generated from more than 1 million recommendations.
In May 2007, Microsoft and The Motley Fool first joined forces to offer Motley Fool CAPS through MSN Money, combining the intelligence and resources of the MSN Money and Motley Fool communities to help people make more educated decisions in the stock market. The strategic alliance enables users of MSN Money and Microsoft Money to get insight from the stock trading community and see how their picks perform compared with those of professional Wall Street analysts.
About The Motley Fool
A worldwide investment and financial advisory services company, The Motley Fool has helped millions of people grow their wealth and achieve financial independence across a wide variety of online and offline media channels including: its award-winning website at http://www.fool.com/; ten premium investment newsletter services; eight best-selling Simon & Schuster and self-published books; a nationally syndicated weekly newspaper column carried by more than 200 publications; a nationally syndicated PBS television special; and the company's award-winning UK subsidiary, Fool UK (http://www.fool.co.uk/).
About MSN Money
MSN Money is a premier online financial resource, providing great original editorial content plus the tools and community to empower investors and engage spenders and savers. Taxpayers can find helpful tax tips, checklists, a tax estimator and the Deduction Finder to help them make informed decisions about filing. MSN Money also helps users stay informed with in-depth and up-to-the-minute data, investment recommendations, valuable tracking tools and opportunities to connect with other active investors to make smart financial decisions. MSN Money is located on the Web at http://www.money.msn.com/.
About Microsoft
Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
For more information about the contest: http://msncaps.fool.com/Contests.aspx
For more information about The Motley Fool CAPS on MSN: http://caps.msn.com/
For more information about Microsoft Money products: http://www.microsoft.com/money
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Microsoft Corp.
CONTACT: Dawn Myrah of Edelman, +1-503-471-6817, dawn.myrah@edelman.com, for Microsoft; or Chris Hill of The Motley Fool, +1-703-254-1447, Chill@fool.com
Web site: http://www.microsoft.com/ http://www.money.msn.com/ http://www.fool.com/
Bill Gates Asks Congress to Act Now to Maintain U.S. Innovation LeadIn House testimony, Gates urges improvements in country's math and science education, reform of immigration policies, and increased investment in basic research.
WASHINGTON, March 12 /PRNewswire-FirstCall/ -- Microsoft Corp. Chairman Bill Gates will testify before the U.S. House Committee on Science and Technology today at 10 a.m. EDT on the future of innovation and U.S. competitiveness. At a hearing to commemorate the committee's 50th anniversary, Gates will focus on issues of U.S. competitiveness, including education and work-force development, the need for immigration reform to allow highly skilled workers to remain in the U.S, and the need to continue to invest in basic research.
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"I know we all want the United States to continue to be the world's center for innovation. But our position as the global leader in innovation is at risk," Gates said. "If this nation is to continue to be the global center of innovation, Congress, the current administration and the next president must act decisively."
In his testimony today, Gates will address the following important areas:
-- Science and math education must be improved. Gates argues that U.S.
companies face a severe shortfall of scientists and engineers with the
skills necessary to develop future innovative technologies. "If we
don't reverse these trends, our competitive advantage will continue to
erode. Our ability to create new high-paying jobs will suffer," Gates
said. "Companies like Microsoft and organizations like the Bill &
Melinda Gates Foundation cannot address these issues alone. Only the
government has the resources to effect change on a broad scale." Gates
praises Congress for passing the America Creating Opportunities to
Meaningfully Promote Excellence in Technology, Education and Science
Act (COMPETES Act) of 2007, but says it now must follow through by
fully funding the legislation's educational initiatives. He also urges
Congress to increase the use of data to measure student improvement.
-- U.S. immigration policies need to allow American companies to hire the
best talent. Gates calls on Congress to reform immigration policies to
allow more highly skilled professionals to work for companies in the
U.S. "At a time when talent is the key to economic success, it makes no
sense to educate people in our universities, often subsidized by U.S.
taxpayers, and then insist that they return home," he said. "To address
the shortage of scientists and engineers, we must ... reform our
education system and our immigration policies. If we don't, American
companies simply will not have the talent they need to innovate and
compete." Gates urges Congress and the White House to address this
problem by extending the period that foreign students can work in the
U.S. after graduation, raising the cap on H-1B visas, creating a clear
path to permanent residency for high-skilled foreign-born employees and
increasing the number of green cards. "The shortage of scientists and
engineers is so acute that we must do both: reform our education system
and reform our immigration policies."
-- Funding for basic research should be increased. Gates believes basic
research funding is an essential part of keeping American companies
competitive and sparking new industries. "Even though we know that
basic research drives economic progress, real federal spending on basic
research has fallen since 2005," he said. "I urge Congress to increase
funding for basic research by 10 percent annually for the next seven
years." Gates said that federal funding for basic research supports the
education of the next generation of scientists and engineers, and
provides the raw material that U.S. companies transform into
commercially successful products.
Gates said he is optimistic that information technology will continue to transform business productivity and the quality of our day-to-day lives, adding that private companies alone cannot ensure that the U.S. will remain the pre-eminent force in innovation. "Without leadership from Congress and the president ... and the commitment of the private sector to do its part, the center of progress will shift to other nations that are more committed to the pursuit of innovation," Gates said.
Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Microsoft Corp.
CONTACT: Rapid Response Team of Waggener Edstrom Worldwide, +1-503-443-7070, rrt@waggeneredstrom.com, for Microsoft Corp.
Web site: http://www.microsoft.com/
Esurance Inks Multi-Year Deal With AutoWatchAuto Insurance Company Experiences Success with Online Vehicle Repair Monitoring
SAN FRANCISCO, March 12 /PRNewswire/ -- Esurance, the direct-to-consumer personal auto insurance company, announced the signing of a six-year agreement with AutoWatch, a unique Web-enabled system designed for monitoring auto repairs. Esurance launched AutoWatch in January 2007, and the program has been a huge success with the auto insurance company's tech-savvy customer base.
Gary Tolman, Esurance President & CEO, stated, "Our customers use the Internet to manage their lives, so they really appreciate the ability to monitor their vehicle's repair online. In one of our claims surveys, policyholders who used AutoWatch showed increased satisfaction with the claims process because AutoWatch helps expedite vehicle repair." Esurance AutoWatch customers see a 16.5% reduction in repair length, totaling approximately two whole days. This results in a 6% increase in customer satisfaction among Esurance's AutoWatch users, based on the auto insurance company's internal claims surveys.
In addition to the six-year partnership announcement, Esurance recently completed some user interface enhancements to its AutoWatch implementation, making AutoWatch even more integrated with Esurance's online customer experience. Esurance customers using the auto insurance company's direct repair program can monitor their vehicle's repair online in a virtually seamless process.
David Henderson, AutoWatch President, commented, "Esurance is a great partner for us, particularly because of its technology focus and commitment to excellence in user interface design. With a customer base that's so Internet-focused, our partnership with Esurance is a perfect fit."
Tolman concluded, "Our customers deserve to have the information they want 24/7, and we're pleased that we can actually show them their car's repair real-time. Getting into an accident is always stressful, and Esurance is committed to helping our customers during that time. We're very pleased to sign a long-term agreement with AutoWatch."
About Esurance(R)
Esurance, a subsidiary of White Mountains Insurance Group, Ltd. , provides personal auto insurance direct to consumers online and through select online agents. Esurance is dedicated to constantly improving the way people shop for, buy, and manage their auto insurance. By combining the best of technology with industry know-how, Esurance is able to offer hassle-free coverage with 24/7 customer service and claims handling at competitive prices.
Through Esurance's Web site, http://www.esurance.com/, customers can get instant quotes, view comparison quotes, buy an Esurance policy, and print their proof of insurance card -- all in minutes. Esurance also offers policyholders the ability to make policy changes and file claims instantly online, demonstrating its commitment to improving the entire insurance process from quote to claim.
About AutoWatch(TM)
AutoWatch is provided by See Progress, Inc., a recognized pioneer of online customer vehicle tracking. Its product, AutoWatch, is a unique customer service and marketing tool for the collision repair industry. AutoWatch allows vehicle owners to view digital photos of their vehicles via the Internet throughout the repair process. Additional information can be found at: http://www.autowatch.com/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which we expect or anticipate will or may occur in the future are forward-looking statements. The words "will," "believe," "intend," "expect," "anticipate," "project," "estimate," "predict" and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to White Mountains':
* growth in book value per share or return on equity;
* business strategy;
* financial and operating targets or plans;
* incurred losses and the adequacy of its loss and loss adjustment expense
reserves and related reinsurance;
* projections of revenues, income (or loss), earnings (or loss) per share,
dividends, market share or other financial forecasts;
* expansion and growth of our business and operations; and
* future capital expenditures.
These statements are based on certain assumptions and analyses made by White Mountains in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:
* the risks associated with Item 1A of White Mountains' 2007 Annual Report
on Form 10-K;
* claims arising from catastrophic events, such as hurricanes,
earthquakes, floods or terrorist attacks;
* the continued availability of capital and financing;
* general economic, market or business conditions;
* business opportunities (or lack thereof) that may be presented to it and
pursued;
* competitive forces, including the conduct of other property and casualty
insurers and reinsurers;
* changes in domestic or foreign laws or regulations, or their
interpretation, applicable to White Mountains, its competitors or its
clients;
* an economic downturn or other economic conditions adversely affecting
its financial position;
* recorded loss reserves subsequently proving to have been inadequate;
* other factors, most of which are beyond White Mountains' control.
Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by White Mountains will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, White Mountains or its business or operations. White Mountains assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.
Esurance
CONTACT: Susan MacTavish Best of Best Public Relations, +1-415-505-0301, susan@bestpr.net, for Esurance
Web site: http://www.esurance.com/ http://www.autowatch.com/
MIPS Technologies Offers Silicon-Proven Hi-Fi Quality Audio IP in Deep Submicron ProcessesIP Reduces Risk for Developers of Next-Generation Consumer Electronic Devices with Audio
LISBON, Portugal, March 12 /PRNewswire-FirstCall/ -- MIPS Technologies, Inc. , a leading provider of industry-standard architectures, processors and analog IP for digital consumer, home networking, wireless, communications and business applications, today announced that its 96dB Audio IP Codec -- already silicon-proven in multiple deep submicron processes and foundries -- has been silicon-proven in TSMC 90nm and Chartered Semiconductor Manufacturing 130nm processes. This is the world's first true above-96dB Hi-Fi quality, ultra low-power and compact-area audio IP to be silicon-proven in deep submicron processes. System-on-Chip (SoC) developers can leverage the IP to dramatically reduce risk, cost and time-to-market for next-generation consumer electronic devices with audio functionality, including CDs, mini-disks, multi-format and DVD players and recorders; PMPs; PDAs; GPS handheld devices; and cellular and smart phones.
The new generation of Chipidea Hi-Fi Audio IP represents a landmark in MIPS Technologies' analog audio IP development, setting several performance records, including 7.5mW power consumption at 96dB/48kHz playback, 11mW power consumption at 96dB/48kHz record, 1.5sqmm silicon area for a complete stereo codec, and 104dB dynamic range for applications such as high-end portable audio.
"Our audio IP has achieved first-pass silicon success in several deep submicron processes, demonstrating its maturity and associated low risk," said Joao Risques, audio product line manager of Audio and Power Solutions, Analog Business Group, MIPS Technologies. "We help customers achieve 'first time right' differentiated designs to respond to increasingly short product life cycles and the demand for continuous innovation, while remaining competitive in critical areas such as power consumption and true Hi-Fi audio quality. Additionally, we provide the integration support customers need to mitigate their design risk and get to market on time."
Consumers demand Hi-Fi quality, multi-function, feature-rich audio products in a small form factor and at a low price. This presents a challenge to IC designers and audio device manufacturers in finding high-performance, ultra low-power audio analog content at low risk. Until now, this functionality has only been available on standalone chips at high price points, or on discrete, non-optimized analog IP components that pose integration difficulties along with increased risk, time-to-market and cost. To remain competitive, SoC and System-in-Package (SiP) designers must focus on developing the digital features critical to differentiating their chips. They need proven audio analog functions that match or exceed currently-available best-in-class ICs, and are easy to integrate onto their SoC or SiP.
MIPS Technologies' audio codecs offer the widest available range of functions for embeddable audio, including 24-bit A/D and D/A conversion. The CI7823tm Hi-Fi Audio Codec was recently proven on TSMC's 90nm process and the CI7830cl Hi-Fi Audio Codec was proven on Chartered's 130nm process. The CI7824sm Hi-Fi Audio Codec is currently under characterization in Fujitsu's 90nm process, and is achieving a similar level of performance.
Chipidea Audio Solutions are the most complete family of portable, easy-to-integrate audio IP cores on the market. The cores are available at major foundries across multiple process technologies, including mainstream 65nm processes at TSMC and UMC.
Analog Business Group -- Chipidea
Chipidea is the world leader in analog/mixed-signal intellectual property targeting fast-growing market segments, including wireless communications, digital media, consumer electronics, power management, data conversion and connectivity. Chipidea was acquired by MIPS Technologies in August 2007, and today serves as the company's Analog Business Group. Chipidea offers the broadest array of state-of-the-art RF, analog and mixed-signal technologies worldwide with a library of proven IP in today's leading processes across a wide array of foundries. The company's advanced and extensive analog and mixed-signal IP portfolio enables next-generation SoC designers to integrate silicon-proven functionality previously available only to large integrated device manufacturers. Founded in 1997, Chipidea licenses its technology to leading semiconductor companies across all major markets, offering high-precision, single-function blocks to complete analog sub-systems. Based in Lisbon, Portugal, Chipidea can be reached at (+351) 210336300. For more information, visit http://www.chipidea.com/.
About MIPS Technologies, Inc.
MIPS Technologies, Inc. (NasdaqGS: MIPS) is the world's second largest semiconductor design IP company and the number one analog IP company worldwide. With more than 250 customers around the globe, MIPS Technologies powers some of the world's most popular products for the digital consumer, broadband, wireless, networking and portable media markets -- including broadband devices from Linksys, DTVs and entertainment systems from Sony, DVD recordable devices from Pioneer, digital set-top boxes from Motorola, network routers from Cisco, 32-bit microcontrollers from Microchip Technology and laser printers from Hewlett-Packard. Today, the company owns more than 400 patent properties (patents and applications) worldwide. Founded in 1998, MIPS Technologies is headquartered in Mountain View, California, with offices worldwide. For more information, contact (650) 567-5000 or visit http://www.mips.com/.
MIPS is a trademark or registered trademark in the United States and other countries of MIPS Technologies, Inc. Chipidea is a trademark or registered trademark in the United States and other countries of Chipidea-Microelectronica, S.A., Inc. All other trademarks referred to herein are the property of their respective owners.
MIPS Technologies, Inc.
CONTACT: Jen Bernier of MIPS Technologies, Inc., +1-650-567-5178, jenb@mips.com
Web site: http://www.mips.com/ http://www.chipidea.com/
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