AT&T U-verse Voice Launches in SacramentoNext-Generation Voice Service Offers Convenient Integrated Wired and Wireless Features, Reliable Call Quality
SACRAMENTO, Calif., March 17 /PRNewswire-FirstCall/ -- AT&T Inc. today announced the availability of AT&T U-verse(SM) Voice in Sacramento, bringing consumers a next-generation digital voice service delivered over the AT&T U-verse Internet Protocol (IP) network. U-verse Voice brings together customers' AT&T wireline and wireless voice, broadband and TV services with unique features that provide a new level of integration, convenience and control.
AT&T U-verse Voice completes the company's IP triple play. With U-verse Voice, customers receive a new set of features that highlight the benefits of having advanced video, broadband, wireless and wireline voice services from a single provider -- and all on one bill.
AT&T U-verse Voice is a managed IP-based service that is delivered over AT&T's fiber-rich network, unlike many Voice over IP (VoIP) providers that offer best-effort digital phone services over the public Internet. This allows U-verse Voice customers to enjoy great sound quality and reliability, as well as unmatched calling features that combine with customers' AT&T U-verse TV, broadband and AT&T wireless services.
"Sacramento is one of the first areas to receive U-verse Voice, and we're excited for our customers to see what true integration is all about," said Loretta Walker, AT&T vice president and general manager for the Sacramento area. "With U-verse Voice, we're going beyond your basic bundles to make services work together in new and exciting ways -- all around you."
AT&T U-verse Voice has advanced features that go beyond traditional phone service and many competitors' offerings, including:
-- Combined AT&T U-verse Voice and AT&T wireless voice mail with U-verse
Messaging, which provides a single voice mailbox that can be accessed
from any phone line or PC.
-- U-verse Central, an online management portal that gives users the
option to easily and conveniently manage their call preferences, voice
mail, contacts, call history and more from any PC, in addition to the
ability to control call preferences from their home phone.
-- An online voice mailbox so that customers can listen to, manage and
forward voice mail from the online portal, much like an e-mail inbox.
-- Call History, which enables customers to view their most recent
incoming and outgoing calls online or to view their most recent
incoming calls on their AT&T U-verse TV screen.
-- Click to Call, which will initiate a call from the customer's home
phone to any number in a customer's Call History with one click of a
mouse or the U-verse TV remote control.
-- An online Address Book that is accessible from any PC and allows
customers to Click to Call from their home phone, to create and share
contact groups with other U-verse Voice customers or to set up
distribution lists for voice messages.
-- Locate Me, a feature that provides simultaneous ringing on up to four
wireless or landline numbers so that a customer never misses an
important incoming call.
-- Traditional calling features, such as Call Screening, Call Blocking,
Do Not Disturb and privacy settings.
All U-verse Voice customers will have 911 service. Where available via the local 911 network, U-verse Voice customers will have Enhanced 911 (E911) service.
U-verse TV customers can choose from two flexible U-verse Voice calling plans:
-- U-verse Voice Unlimited, which includes unlimited local and nationwide
minutes to any location in the U.S., Canada or U.S. territories for
$40 a month.
-- U-verse Voice 1000, which includes 1,000 Call Anywhere minutes to any
location in the U.S. or U.S. territories for $30 a month.
A second phone line, which shares the primary line's calling plan, can be added for $20 a month, and each plan features competitive international rates with no recurring monthly charge. Professional installation is included for new AT&T U-verse TV customers.
AT&T wireless customers who subscribe to an AT&T Unity(SM) plan can call any AT&T U-verse Voice number from their mobile phone as part of the nation's largest free calling community without using up any wireless Anytime Minutes.
Customers who want additional information on AT&T U-verse can visit http://uverse.att.com/.
About AT&T
AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.
(C) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.
This AT&T news release and other announcements are available as part of an RSS feed at http://www.att.com/rss. For more information, please review this announcement in the AT&T newsroom at http://www.att.com/newsroom.
AT&T U-verse Voice: Available in limited areas and only with purchase of AT&T U-verse TV. Prices subject to change. Residential customers only. Taxes, fees, and other charges, including Universal Service Fund charge, are extra. Installation charge applies, unless waived as part of promotion. International calls billed at additional per-minute rates; higher rates may apply for calls terminating on mobile phones or other wireless devices. U-verse Voice, including 911 dialing, will not function during a power outage without battery backup power. Non-returned equipment charges will apply if equipment is not returned within required timeframe upon disconnect of services. Service is not portable; will function only in your home. May be incompatible with monitored home alarms and medical monitoring systems Refer to Learn More pages for U-verse Voice at http://www.uverse.att.com/ for more information on 911, battery backup, and home alarms. Acceptance of Terms of Service and 911 Acknowledgement required. Credit and other restrictions apply. U-verse Voice 1000: Minutes over 1000 are 7 cents/min.; minutes are rounded up.
AT&T U-verse Installation Offer: No charge for standard installation for new AT&T U-verse customers who order prior to 05/24/08 and whose order includes AT&T U-verse TV.
AT&T Inc.
CONTACT: Brooke Burgess of AT&T Inc., +1-916-492-5321,
bburgess@attnews.us
Web site: http://www.att.com/
Formula Systems Reports Fourth Quarter and Fiscal Year 2007 ResultsAnnual Net Income of $37.3 Million
HERZLIYA, Israel, March 17 /PRNewswire-FirstCall/ -- Formula Systems (1985) Ltd. a leading provider of information technology products, solutions and services, announced today results for the fourth quarter and year ended December 31, 2007.
Revenues for the fourth quarter totaled $135.9 million an increase of 21% compared to $111.9 million in the fourth quarter of 2006.
Revenues for the year ended December 31, 2007 totaled $493.4 million compared to $416.8 million in 2006.
Operating income in the fourth quarter of 2007 was $8.1 million compared to $4.8 million in the same quarter of 2006, an increase of 67%. Operating income in 2007 was $27.2 million compared to $10.1 million in 2006, an increase of 170%.
Net income for the fourth quarter of 2007 was $6.5 million. In 2007 the company recorded a net income of $37.3 million compared to a net income of $10.0 million in 2006.
Cash and Short term investment at December 31, 2007 increased to $200.2 million from $115.0 million at December 31,2006.
Current Ratio at December 31, 2007 significantly improved to 2.38 from 1.71 at December 31,2006.
Shareholder's Equity at December 31, 2007 totaled $198.4 million.
During the year we sold our entire holdings in BluePhoenix Solutions Ltd for a consideration of approximately $64 million, which resulted in capital gain of approximately $18 million and our subsidiary Magic sold its wholly owned subsidiary Advanced Answer on Demand (AAOD) for the consideration of $17 million in cash.
Guy Berenstein, CEO of Formula, commented: "Formula has experienced an exceptional year both from the financial and the operational points of view. At the beginning of 2007 a new Formula was presented, comprising large and mostly publicly traded subsidiaries all of which contributed positively to our operational profit. During the year 2007 the Group's Financial resources increased significantly due to the issue of debentures in our subsidiary Matrix, a private placement in Sapiens, the sale of a subsidiary of Magic and the sale of the entire holdings in BluePhoenix. These financial activities resulted in over $150 million in cash to the Formula Group.
Our strong balance sheet will enable us to consider and pursue new investments and mainly to react swiftly and efficiently to the market fluctuations in these turbulent times."
About Formula
Formula Systems Ltd. is a global information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services, developing proprietary software products and providing computer-based business solutions.
Statements made in this press release that are not historical facts are forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks and uncertainties include, but are not limited to: market demand for the company's products, dependence on strategic partners, integration of new business, successful implementation of Formula's products, economic and competitive factors, international market conditions, management of growth, technological developments, the ability to finance operations and other factors which are detailed in Formula's Securities and Exchange Commission filings, including its most recent report on Form 20-F. Formula undertakes no obligation to publicly release any revision to any forward-looking statement.
CONSOLIDATED BALANCE SHEETS
December 31, December 31,
2007 2006
U.S. $
(in thousands)
CURRENT ASSETS:
Cash and cash equivalents 161,504 103,548
Short-term investments 38,731 11,385
Marketable securities available for sale 1,545 3,646
Trade receivables 139,676 119,505
Other accounts receivable 33,222 17,582
Inventories 3,157 2,752
377,835 258,418
LONG-TERM INVESTMENTS & DEPOSITES , LOANS AND RECEIVABLES:
Loans and other investments 14,377 3,871
Investments in affiliates 3,682 710
18,059 4,581
SEVERANCE PAY FUND 36,851 29,962
FIXED ASSETS, NET 15,794 15,921
OTHER ASSETS, NET 162,653 141,229
TOTAL ASSETS ATTRIBUTED TO DISCONTINUED OPERATIONS 41 146,383
611,233 596,494
CURRENT LIABILITIES:
Liabilities to banks and others 26,481 40,414
Trade payables 56,172 49,719
Other accounts payable 72,521 56,967
Debentures 3,725 4,450
158,899 151,550
LONG-TERM LIABILITIES:
Debentures 71,679 10,802
Unrealized Gain 85 -
Deferred taxes 3,276 458
Customer advances 2,181 449
Liabilities to banks and others 23,684 59,268
Liability in respect of the acquisition of 1,374 1,489
activities
Accrued severance pay 43,249 35,340
145,528 107,806
TOTAL LIABILITIES ATTRIBUTED TO DISCONTINUED
OPERATIONS 503 98,782
MINORITY INTEREST 107,915 85,066
SHAREHOLDERS' EQUITY 198,388 153,290
611,233 596,494
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
Twelve months Three months
ended ended
December 31, December 31,
2007 2006 2007 2006
U.S.$ U.S.$
(in thousands, except per share data)
493,350 416,807 135,917 111,926
Revenues
Cost of revenues 369,110 309,447 100,041 83,034
Gross profit 124,240 107,360 35,876 28,892
Research and development costs, 6,547 5,508 2,700 1,019
net
Selling, general and
administrative expenses 86,966 84,701 24,231 22,400
Depreciation and amortization 3,282 4,143 873 379
Restructuring and non-recurring 210 2,911 - 269
costs
Operating income 27,235 10,097 8,072 4,825
Financial income (expenses), (3,700) (4,660) (2,257) (1,930)
net
23,535 5,437 5,815 2,895
Gain on realization of 2,039 3,755 53 1,639
investments
Other income (expenses), net (898) (1,102) (715) (238)
Income before taxes on income 24,676 8,090 5,153 4,296
Taxes on income 1,933 3,766 861 971
22,743 4,324 4,292 3,325
Equity in profits (losses) of (559) 47 (13) (5)
affiliated companies, net
Minority interest in profits, 9,723 4,832 2,759 2,753
net
Income from continuing 12,461 (461) 1,520 567
operation
Income (loss) from discontinued
operations 24,798 10,476 4,995 5,796
Net income 37,259 10,015 6,515 6,363
Earnings per share generated from continued operation :
Basic 0.95 0.07 0.12 0.05
Diluted 0.93 0.06 0.11 0.05
Earnings per share generated from discontinuing operation :
Basic 1.87 0.73 0.38 0.46
Diluted 1.86 0.67 0.37 0.45
Weighted average number of shares outstanding:
Basic 13,200 13,200 13,200 13,200
Diluted 13,200 13,200 13,200 13,200
Contact:
Israel:
Naamit Salomon, CFO, Formula Systems Ltd. +972-9-959-8800
USA:
Dennis S. Dobson, for Formula Systems Ltd. +1-203-255-7902
Formula Systems Ltd.
CONTACT: Contact: Israel: Naamit Salomon, CFO, Formula Systems Ltd.
+972-9-959-8800; USA: Dennis S. Dobson, for Formula Systems Ltd.
+1-203-255-7902
