Companies news of 2008-03-25 (page 1)
OMNOVA Solutions to Webcast First Quarter 2008 Earnings Call
ASAT Holdings Limited Updates Date for Third Quarter Fiscal Year 2008 Financial Results...
China GrenTech Corporation Limited Schedules 2007 Fourth Quarter and Full Year Earnings...
Aehr Test Systems Reports 90% Increase in Net Sales for Third Quarter Fiscal 2008
eOn Communications to Sell Investment in Spark
EZENIA! INC. Announces 2007 Fourth Quarter and Annual Financial Results
Telanetix Reports Strong Fourth Quarter Revenue and Gross Profit GrowthCompany grew...
Oracle Achieves World Record Result on the SAP(R) SD-Parallel Standard Application...
TRM Corporation Announces Its Application for the NASDAQ Capital Market Was Denied
Microsoft and Sourcesense Partner to Contribute to Open Source, Apache POI to Support Ecma...
American Red Cross of Northwest Florida Receives $35,000 Contribution From AT&T
SureWest Launches Nationwide Remote Monitoring ServiceMonitor Your Home From Anywhere in...
Autodesk Recognizes Elite Platinum Club of Top-Performing ResellersInductees Upheld as...
comScore Executive Chairman and Co-Founder Gian Fulgoni Will Be Moderating Public Session...
Microsoft and Sourcesense Partner to Contribute to Open Source, Apache POI to Support...
Intrusion Inc. Announces Financial Release Date and Conference Call
ITEX Responds to Western Sizzlin Changes to Unsolicited Tender OfferContinues to Recommend...
Deep Down Ships $1.5 Million of Innovative Subsea Hardware
Conolog Announces Results of Annual Shareholders' Meeting
PLAYSTATION(R)3, PSP(R)(PlayStation(R)Portable), and EA'S Burnout Paradise Star in Wyclef...
Amid 'Graying' Work Force, Need for High-Performance Computing in Oil and Gas More...
Long-E International, Inc. Reports Fiscal 2007 Financial Results
eMoney Advisor in Top Quartile of Retirement Income and Distribution Planning Software...
VUANCE Ltd. to Report Fourth Quarter 2007 Operating Results and Host Investor Conference...
Audiopoint Provides Personalized News and Information Services to EarthLink's Service...
Optimum Lightpath Receives New York State Public Service Commission Commendation for...
Ingram Micro to Release First Quarter 2008 Results on April 24
Venable Selects Anacomp's CaseLogistix for Streamlined Litigation SupportAmLaw 100 Firm...
TV Choice and Competition Near for Residents of Roslyn Harbor and Wappinger,...
OMNOVA Solutions to Webcast First Quarter 2008 Earnings Call
FAIRLAWN, Ohio, March 25 /PRNewswire-FirstCall/ -- OMNOVA Solutions will hold its quarterly conference call to discuss first quarter results on Wednesday, April 2, 2008, at 11:00am ET. The call will be hosted by OMNOVA Solutions Chairman and Chief Executive Officer Kevin McMullen. OMNOVA will release earnings after the market closes on April 1, for the quarter ending February 29, 2008.
The call will be webcast by Thomson/CCBN and can be accessed on OMNOVA Solutions' website at http://www.omnova.com/. OMNOVA will archive the call on its website until noon ET, April 9, 2008. Or, to listen to a digitized telephone replay (2:30pm, April 2 until 11:59pm ET, April 9, 2008), callers should dial:
(USA) 800-475-6701, Access Code 915248
(Int'l) 320-365-3844, Access Code 915248
OMNOVA Solutions is a technology-based company with 2007 sales of approximately $746 million and a current workforce of 2,850 employees worldwide. OMNOVA is a major innovator of emulsion polymers, specialty chemicals, and decorative and functional surfaces for a variety of commercial, industrial and residential end uses. Visit OMNOVA Solutions on the internet at http://www.omnova.com/.
Contact: Sandi Noah Michael Hicks
Communications Investor Relations
(330) 869-4292 (330) 869-4411
OMNOVA Solutions
CONTACT: Sandi Noah, Communications, +1-330-869-4292, or Michael Hicks, Investor Relations, +1-330-869-4411, both of OMNOVA Solutions
Web site: http://www.omnova.com/
ASAT Holdings Limited Updates Date for Third Quarter Fiscal Year 2008 Financial Results Conference Call
HONG KONG and MILPITAS, Calif., March 25 /PRNewswire-FirstCall/ -- ASAT Holdings Limited , a global provider of semiconductor package design, assembly and test services, today revised the date it will hold a conference call to discuss the financial results for its third quarter fiscal year 2008, ended January 31, 2008. The new date is Friday, March 28, 2008, at 8:30 a.m. ET. All other call-in details remain the same.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080325/AQTU023LOGO)
Date: Friday, March 28, 2008
Time: 8:30 a.m. ET/5:30 a.m. PT
Dial-in: (480) 248-5085
Passcode: None required
Replay: (303) 590-3030
Passcode: 3859640
Duration: Through April 4, 2008
Webcast: http://www.asat.com/
About ASAT Holdings Limited
ASAT Holdings Limited is a global provider of semiconductor package design, assembly and test services. With 19 years of experience, the Company offers a definitive selection of semiconductor packages and world-class manufacturing lines. ASAT's advanced package portfolio includes standard and high thermal performance ball grid arrays, leadless plastic chip carriers, thin array plastic packages, system-in-package and flip chip. ASAT was the first company to develop moisture sensitive level one capability on standard leaded products. Today the Company has operations in the United States, Asia and Europe. For more information, visit http://www.asat.com/.
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ASAT Holdings Limited
CONTACT: Jim Fanucchi of Summit IR Group Inc., +1-408-404-5400, ir@asat.com, for ASAT Holdings Limited
Web site: http://www.asat.com/
China GrenTech Corporation Limited Schedules 2007 Fourth Quarter and Full Year Earnings Release
Earnings Conference Call to be held on Friday, April 18, 2008 at 8:00 am
(Eastern) / 5:00 am (Pacific) / 8:00 pm (Beijing/Hong Kong)
SHENZHEN, China, March 25 /Xinhua-PRNewswire-FirstCall/ -- China GrenTech Corporation Limited (Nasdaq: GRRF, "the Company" or "GrenTech"), a leading China-based radio frequency ("RF") technology and product developer and a leading wireless coverage products and services provider, announced that the Company will release unaudited financial results for the fourth quarter and the full year ended December 31, 2007 after the US market close on Thursday, April 17, 2008. The postponement of the fourth quarter and full year 2007 earnings announcement is due to the adoption of a new ERP system which was put in place to improve the Company's financial controls, compliance processes and ultimately reporting efficiency.
The earnings release will be available on the investor relations page of the Company's website at http://www.grentech.com.cn/ .
Following the earnings announcement, GrenTech senior management will host a conference call at 8:00 am (Eastern) / 5:00 am (Pacific) / 8:00 pm (Beijing/Hong Kong) on Friday, April 18, 2008 to discuss its 2007 fourth quarter and full year financial results and recent business activity. To access the live teleconference, please dial 1-617-213-8060 (US), 800-96-3844 (Hong Kong) or 1-866-825-1709 (International), with passcode GRENTECHCALL. Please dial in approximately 10 minutes before the scheduled time of the call.
A replay of the conference call will be available through 10:00 am, Friday, May 2, 2008 Eastern Time by dialing 1-888-286-8010 (international callers use 1-617-801-6888) and entering the following code: 15195783.
A webcast replay of the conference call will be available on the investor relations page of GrenTech's website at http://www.grentech.com.cn/ .
About China GrenTech Corporation Limited
GrenTech is a leading radio frequency ("RF") technology and product developer and a leading provider of wireless coverage products and services to telecommunication operators in China. The Company uses RF technology to design and manufacture wireless coverage products, which enable telecommunication operators to expand the reach of their wireless communication networks to indoor and outdoor areas, such as buildings, highways, railways, tunnels and remote regions.
Based on its in-house RF technology platform, the Company also develops and produces base station RF parts and components sold to base station equipment manufacturers. GrenTech is a qualified supplier of RF parts and components to six major base station equipment manufacturers such as Huawei Technologies, ZTE etc. For more information, please visit GrenTech's website at http://www.grentech.com.cn/ .
For more information, please contact:
Investor Contact:
Qingchang Liu
China GrenTech Corp Ltd.
Tel: +86-755-8350-1527
Email: liuqingchang@powercn.com
Investor Relations (HK):
Ruby Yim
Taylor Rafferty
Tel: +852-3196-3712
Email: GrenTech@Taylor-Rafferty.com
Investor Relations (US):
Delia Cannan
Taylor Rafferty
Tel: +1-212-889-4350
Email: GrenTech@Taylor-Rafferty.com
Media Contact:
John Dooley
Taylor Rafferty
Tel: +1-212-889-4350
Email: GrenTech@Taylor-Rafferty.com
China GrenTech Corporation Limited
CONTACT: Investor Contact: Qingchang Liu of China GrenTech Corp Ltd. at +86-755-8350-1527 or liuqingchang@powercn.com; Ruby Yim, Investor Relations (HK), Taylor Rafferty at +852-3196-3712 or GrenTech@Taylor-Rafferty.com; or Delia Cannan, Investor Relations (US) at +1-212-889-4350 or GrenTech@Taylor-Rafferty.com; or John Dooley, Media Contact at +1-212-889-4350 or GrenTech@Taylor-Rafferty.com
Web site: http://www.grentech.com.cn/
Aehr Test Systems Reports 90% Increase in Net Sales for Third Quarter Fiscal 2008
FREMONT, Calif., March 25 /PRNewswire-FirstCall/ -- Aehr Test Systems , a leading supplier of semiconductor test and burn-in equipment, today announced financial results for the third quarter of fiscal 2008 ended February 29, 2008.
Net sales were $10.8 million in the third quarter of fiscal 2008, an increase of 90% from $5.7 million in the third quarter of fiscal 2007. Aehr Test reported net income of $1.9 million, or $0.23 per diluted share, in the third quarter of fiscal 2008, compared with net income of $265,000, or $0.03 per diluted share, in the third quarter of fiscal 2007.
Net income excluding stock compensation expense of $216,000 was $2.1 million, or $0.25 per diluted share, in the third quarter of fiscal 2008. In the same period of the prior fiscal year, net income excluding stock compensation expense of $171,000 was $433,000, or $0.05 per diluted share. The attached condensed consolidated financial statements include a table reconciling the Company's net income excluding stock compensation expense to net income calculated according to accounting principles generally accepted in the United States ("GAAP") for the three and nine months ended February 29, 2008 and February 28, 2007.
"We are pleased that we continued our strong momentum in the third quarter of fiscal 2008, as we delivered substantial improvement in both net sales and net income compared to the same period of the prior year," said Rhea Posedel, chairman and chief executive officer of Aehr Test Systems. "The strong growth is primarily attributable to increasing shipments of our FOX(TM)-1 full wafer parallel test systems and full wafer test contactors.
"Looking ahead, we believe we have another catalyst that will help drive our future growth. We recently received customer acceptance for our first FOX-15 wafer-level burn-in system. We believe this will open the doors to other customers that are looking for a more cost-effective tool for processing wafers for their automotive and Known Good Die applications," said Posedel.
Net sales were $28.1 million in the first nine months of fiscal 2008, compared with $19.1 million in the first nine months of fiscal 2007. Net income for the first nine months of fiscal 2008 was $4.1 million, or $0.48 per diluted share, compared with net income of $1.5 million, or $0.18 per diluted share, in the same period of the prior fiscal year.
At February 29, 2008, cash and cash equivalents and short-term investments were $6.1 million. Aehr Test closed the third quarter of fiscal 2008 with no outstanding debt and shareholders' equity of $29.5 million, or $3.66 per share outstanding, at February 29, 2008.
Commenting on the outlook for the fourth quarter of fiscal 2008, Gary Larson, vice president and chief financial officer of Aehr Test Systems, said, "We believe that, with our backlog of FOX-1 products and our anticipated revenues associated with the FOX-15 system, our net sales in the fourth quarter of fiscal 2008 will be somewhat higher than those in the third quarter."
Management Conference Call
Management of Aehr Test will host a conference call and webcast today, March 25, 2008 at 5:00 p.m. Eastern (2:00 p.m. Pacific) to discuss the Company's third quarter fiscal 2008 operating results. The conference call will be accessible live via the internet at http://www.aehr.com/. Please go to the website at least 15 minutes before start time to register, download and install any necessary audio software. A replay of the webcast will be available at http://www.aehr.com/ for 90 days.
About Aehr Test Systems
Headquartered in Fremont, California, Aehr Test Systems is a leading worldwide provider of systems for burning-in and testing DRAMs, flash, and other memory and logic integrated circuits and has an installed base of more than 2,500 systems worldwide. Aehr Test has developed and introduced several innovative products, including the FOX, MTX and MAX systems and the DiePak(R) carrier. The FOX system is a full wafer contact test and burn-in system. The MTX system is a massively parallel test system designed to reduce the cost of memory testing by performing both test and burn-in on thousands of devices simultaneously. The MAX system can effectively burn-in and functionally test complex devices, such as digital signal processors, microprocessors, microcontrollers and systems-on-a-chip. The DiePak carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of bare die. For more information, please visit the Company's website at http://www.aehr.com/.
Safe Harbor Statement
This release contains forward-looking statements that involve risks and uncertainties relating to projections regarding revenues and customer demand and acceptance of Aehr Test's products. Actual results may vary from projected results. These risks and uncertainties include without limitation, economic conditions in Asia and elsewhere, acceptance by customers of Aehr Test's technologies, acceptance by customers of the systems shipped upon receipt of a purchase order and the ability of new products to meet customer needs or perform as described, and the Company's development and manufacture of a commercially successful wafer-level test and burn-in system. See Aehr Test's recent 10-K report and other reports from time to time filed with the U.S. Securities and Exchange Commission for a more detailed description of the risks facing our business. The Company disclaims any obligation to update information contained in any forward-looking statement to reflect events or circumstances occurring after the date of this press release.
AEHR TEST SYSTEMS AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(in thousands, except per share data)
(Unaudited)
Three Months Ended Nine Months Ended
February February February February
29, 28, 29, 28,
2008 2007 2008 2007
Net sales $10,792 $5,687 $28,127 $19,072
Cost of sales 5,262 2,369 13,532 9,542
Gross profit 5,530 3,318 14,595 9,530
Operating expenses:
Selling, general and
administrative 2,001 1,619 5,664 4,773
Research and development 1,826 1,634 4,919 4,543
Total operating
expenses 3,827 3,253 10,583 9,316
Income from operations 1,703 65 4,012 214
Interest income 55 134 213 390
Other income (expense), net 38 70 (70) 937
Income before income
tax expense (benefit) 1,796 269 4,155 1,541
Income tax expense (benefit) (130) 4 84 32
Net income $ 1,926 $ 265 $ 4,071 $ 1,509
Net income per share
Basic $ 0.24 $ 0.03 $ 0.51 $ 0.20
Diluted $ 0.23 $ 0.03 $ 0.48 $ 0.18
Shares used in per share
calculations:
Basic 8,025 7,765 7,919 7,732
Diluted 8,476 8,115 8,398 8,228
AEHR TEST SYSTEMS AND SUBSIDIARIES
Reconciliation of GAAP and Non-GAAP Results
(in thousands, except per share data)
(Unaudited)
Reconciliation of non-GAAP Financial Measure -- net income to net
income excluding stock compensation expense
Three Months
Ended Nine Months Ended
February February February February
29, 28, 29, 28,
2008 2007 2008 2007
Net income $1,926 $ 265 $4,071 $1,509
Stock compensation expense 216 171 612 506
Income before income taxes,
excluding stock compensation
expense 2,142 436 4,683 2,015
Income tax expense 4 3 12 9
Net income excluding stock
compensation expense $2,138 $ 433 $4,671 $2,006
Diluted net income per share
excluding stock compensation
expense $ 0.25 $ 0.05 $ 0.56 $ 0.24
Net income excluding stock compensation expense is a non-GAAP measure and should not be considered a replacement for GAAP results.
Net income excluding stock compensation expense is a financial measure the Company uses to evaluate the underlying results and operating performance of the business. The difference between net income (the most comparable GAAP measure) and net income excluding stock compensation expense (the non-GAAP measure) reflects the impact of applying SFAS 123R to the current period. The limitation of this measure is that it excludes an item that impacts the Company's current period net income. This limitation is best addressed by using this measure in combination with net income (the most comparable GAAP measure) because net income excluding stock compensation expense does not reflect the impact of SFAS 123R and may be higher than net income (the most comparable GAAP measure).
AEHR TEST SYSTEMS AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands, except per share data)
(Unaudited)
February 29, May 31,
2008 2007
ASSETS
Current assets:
Cash and cash equivalents $ 5,774 $ 6,564
Short-term investments 300 2,987
Accounts receivable, net 17,977 6,614
Inventories 9,431 9,701
Prepaid expenses and other 346 326
Total current assets 33,828 26,192
Property and equipment, net 1,779 1,689
Goodwill 274 274
Other assets 531 520
Total assets $36,412 $28,675
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 2,522 $ 2,517
Accrued expenses 4,129 2,927
Deferred revenue 167 378
Total current liabilities 6,818 5,822
Deferred lease commitment 110 185
Total liabilities 6,928 6,007
Shareholders' equity 29,484 22,668
Total liabilities and shareholders'
equity $36,412 $28,675
Contact:
Tricia Ross
Financial Relations Board for Aehr Test Systems
Investor/Analyst Contact
(310) 403-7322
Aehr Test Systems
CONTACT: Tricia Ross, Investor|Analyst Contact of Financial Relations Board, +1-310-403-7322, for Aehr Test Systems
Web site: http://www.aehr.com/
eOn Communications to Sell Investment in Spark
SAN JOSE, Calif., March 25 /PRNewswire-FirstCall/ -- eOn Communications Corporation(TM) , a leading provider of telecommunications solutions, today reported that its Board of Directors has decided not to exercise the option to purchase Spark Technologies, Inc. ("Spark") and has elected to sell the 300,000 shares of Spark it presently owns to David Lee for $300,000. After evaluation of the Company's strategic alternatives the Board concluded that it was not in the best interest of the Company to acquire Spark at this time.
On March 31, 2006, the Company entered into an Acquisition Option Agreement with Spark to convert a note receivable of $300,000 to 300,000 shares of Spark common stock with an option to purchase all remaining outstanding Spark shares for 8,665,000 shares of eOn common stock. The option period expires March 31, 2008. Under the agreement, the Company can require David Lee (the majority owner of Spark) to purchase the 300,000 shares for $300,000 with 60 days written notice. The Company delivered the notice to David Lee on March 25, 2008. Mr. Lee is the Chief Executive Officer and a Director of eOn.
About eOn Communications
eOn Communications Corporation is a global provider of innovative communications solutions. Backed by over 20 years of telecommunications engineering expertise, our solutions enable our customers to easily leverage advanced technologies in order to communicate more effectively. To find out more information about eOn Communications and its solutions, visit the World Wide Web at http://www.eoncommunications.com/, or call 800-955-5321.
Note:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, including technical and competitive factors, which could cause the Company's results and the timing of certain events to differ materially from those discussed in the forward-looking statements. Such risks are detailed in eOn Communications Corporation's most recent Form 10-Q filing with the Securities and Exchange Commission.
eOn Communications Corporation, the mark eOn, and eQueue are trademarks of eOn Communications Corporation.
Photo: Newscom: http://www.newscom.com/cgi-bin/prnh/20010517/EONLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
eOn Communications Corporation
CONTACT: Investor Relations of eOn Communications Corporation, +1-800-955-5321, investorrelations@eoncc.com
Web site: http://www.eoncommunications.com/
EZENIA! INC. Announces 2007 Fourth Quarter and Annual Financial Results
NASHUA, N.H., March 25 /PRNewswire-FirstCall/ -- Ezenia! Inc. (BULLETIN BOARD: EZEN) , a leading market provider of real-time collaboration solutions for corporate and government networks, today reported its financial results for the fourth quarter and fiscal year ended December 31, 2007.
For the fourth quarter of 2007, the Company generated revenue of approximately $1.8 million, a 39.4% decrease from approximately $3.0 million for the fourth quarter of 2006. The quarterly loss from operations, which included a restructuring charge of $0.2 million for the Colorado facility transition and $0.4 million for increased legal and professional fees, was approximately ($1.6) million, or ($0.11) per share, as compared to approximately $444 thousand in quarterly income from operations, or $0.03 per share, a year ago. Net quarterly loss, which included an income tax expense of $711 thousand related to an increase in the valuation allowance for deferred tax assets recorded in prior years, was approximately ($2.2) million, or ($0.15) per share, as compared to net quarterly income of approximately $1.0 million, or $0.07 per share, a year ago, which included an income tax benefit of approximately $402 thousand relating to a release of the valuation allowance associated with deferred tax assets.
For the year ended December 31, 2007, revenue was approximately $9.0 million, a 31.8% decrease from approximately $13.2 million for the year ended December 31, 2006. For the same period, annual loss from operations, which included a $1.4 million charge to reserve for an excess third party license purchase commitment, was approximately ($4.4) million, or ($0.30) per share, as compared to annual income from operations in 2006 of approximately $2.9 million, or $0.20 per share. Net annual loss was approximately ($4.5) million, or ($0.31) per share, compared to net annual income in 2006 of approximately $3.9 million, or $0.27 per share. Cash and cash equivalents at year end 2007 were approximately $9.4 million, a $2.7 million decrease from year end 2006. Operating expenses increased to approximately $8.1 million from approximately $5.9 million for 2006, due to continuing investments in product enhancements, the sales and marketing organizations, the transition of the Colorado facility, and increased legal and professional charges.
"Consolidation activities made during the course of 2007 will benefit Ezenia this year in terms of expense control and allow quarterly losses from operations to be significantly reduced when compared to the fourth quarter of 2007," noted Khoa Nguyen, Ezenia's Chairman and Chief Executive Officer. "Prudent investments in future product development will enable the Company to sustain steady improvements to the InfoWorkSpace product line and start introducing new software products targeted for the commercial sector in the second half of the year. Management expects that the Company will continue to be under pressure for at least the first half of 2008 as market conditions remain uncertain. However, continuing investments and recent executive additions in the sales and marketing organizations will increase the Company's focus on the commercial sector while it continues to diversify its federal business. Our primary objective is to return to profitability by growing the top line and continuing vigilance on expense control," concluded Mr. Nguyen.
About Ezenia! Inc.
Ezenia! Inc. (BULLETIN BOARD: EZEN) , founded in 1991, is a leading provider of real-time collaboration solutions, bringing new and valuable levels of interaction and collaboration to corporate networks and eGovernment. By integrating voice, video and data collaboration, the Company's award- winning products enable groups to interact through a natural meeting experience regardless of geographic distance. Ezenia! products allow dispersed groups to work together in real-time using powerful capabilities such as instant messaging, white boarding, screen sharing and text chat. The ability to discuss projects, share information, and modify documents allows users to significantly improve team communication and accelerate the decision-making process. More information about Ezenia! Inc. and its product and service offerings can be found at the Company's Web site, http://www.ezenia.com/.
Note to Investors Regarding Forward-Looking Statements
Statements included herein that are not historical facts may be considered forward-looking statements. You can identify these forward-looking statements by use of the words "expects," "anticipates," "estimates," "believes," "projects," "intends," "plans," "will," "may," and similar words. Such forward-looking statements which include statements regarding the Company's business and financial outlook, product development, sales and marketing efforts, and long-term strategy involve risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements. These risks and uncertainties include the considerations that are discussed in the Company' Annual Report on Form 10-K for the year ended December 31, 2006, such as the evolution of Ezenia!'s market, dependence on the United States government as its largest customer and on other major customers, continued funding of defense programs by the United States government and the timing of such funding, uncertainty associated with the on-going bidding activities sponsored by DISA, rapid technological change and competition within the collaborative software market, its reliance on third-party technology, protection of its propriety technology, acceptance of IWS in the commercial market, retention of key employees, stock price volatility, customer acceptance of Version 3.0 of InfoWorkSpace, its history of liquidity concerns and operating losses, and other considerations that are discussed further in such report. You should not place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation to update forward-looking statements after the date of such statements.
Note: Ezenia! is a registered trademark of Ezenia! Inc., and the Ezenia! Logo and InfoWorkSpace are trademarks of Ezenia! Inc. Additional information on Ezenia! and its products is available at http://www.ezenia.com/.
EZENIA! INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
December 31, December 31,
2007 2006
Assets
Current assets
Cash and cash equivalents $9,395 $12,059
Accounts receivable, less allowances of $413 at
December 31, 2007 and $413 at December 31, 2006. 2,479 3,580
Prepaid software licenses 1,417 2,270
Prepaid expenses and other current assets 307 356
Deferred tax assets - 717
Total current assets 13,598 19,482
Prepaid licenses, net of current portion 169 576
Capitalized software, net 18 87
Equipment and improvements, net of accumulated
depreciation 380 304
Total assets $14,165 $20,449
Liabilities and stockholders' equity
Current liabilities
Accounts payable 497 1,917
Accrued expenses 1,885 535
Employee compensation and benefits 266 229
Accrued restructuring charges 215 -
Deferred revenue 3,512 5,675
Total current liabilities 6,375 8,356
Deferred revenue, net of current portion 17 192
Stockholders' equity
Preferred stock, $.01 par value; 2,000,000 - -
shares authorized, none issued and none
outstanding
Common stock, $.01 par value, 40,000,000
shares authorized, 15,360,629 issued and
14,601,092 outstanding in 2007; 15,311,174
issued and 14,650,737 outstanding in 2006 154 153
Capital in excess of par value 64,870 64,368
Accumulated deficit (54,306) (49,759)
Treasury stock at cost, 759,537 shares at
December 31, 2007 and (2,945) (2,861)
660,437 shares at December 31, 2006
7,773 11,901
Total liabilities and stockholders' equity $14,165 $20,449
EZENIA! INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except for share and per share related data)
(Unaudited)
For the Three For the Twelve
Months Months
Ended December 31, Ended December 31,
2007 2006 2007 2006
Revenues
Product and service revenue $1,819 $2,998 $8,988 $13,192
Cost of revenues
Cost of product and service
revenue 824 1,070 5,315 4,425
Gross profit 995 1,928 3,673 8,767
Operating expenses
Research and development 681 476 2,361 1,723
Sales and marketing 582 370 2,021 1,411
General and administrative 897 497 2,802 2,216
Depreciation 59 33 191 105
Occupancy and other facilities 139 108 493 413
related expenses 215 - 215 -
Restructuring charge
Total operating expenses 2,573 1,484 8,083 5,868
Income (loss) from operations (1,579) 444 (4,410) 2,899
Other income (expense)
Interest income, net 91 153 545 491
Other income (2) 15 29 15
89 168 574 506
Income (loss) before income
taxes (1,490) 612 (3,836) 3,405
Income tax (expense) benefit (711) 402 (711) 513
Net income (loss) $(2,201) $1,014 $(4,547) $3,918
Basic and diluted net earnings
(loss) per share:
Basic $(0.15) $0.07 $(0.31) $0.27
Diluted $(0.15) $0.07 $(0.31) $0.26
Contact: Roger N. Tuttle
Ezenia! Inc.
Investor Relations
investorrelations@ezenia.com
Ezenia! Inc.
CONTACT: Roger N. Tuttle, Investor Relations of Ezenia! Inc., investorrelations@ezenia.com
Web site: http://www.ezenia.com/
Telanetix Reports Strong Fourth Quarter Revenue and Gross Profit GrowthCompany grew revenue to $7.4 million and gross profit to 47.8%
SAN DIEGO, March 25 /PRNewswire-FirstCall/ -- Telanetix, Inc. (OTC BB: TNXI) a leading IP solutions provider offering telepresence and VoIP services to the SMB and SME markets, announced it has exceeded its revenue and gross profit expectation for the fourth quarter of 2007. The company reported fourth quarter 2007 revenue of $7.4 million, exceeding projections of $7.1 million. Gross profit was 47.8% in the fourth quarter of 2007, exceeding the target of 41%.
"We are very pleased to report the programs we engaged in the third quarter of 2007 including the acquisition of AccessLine have proven to be successful in marketplace traction, and our products have been successful in creating new revenue," stated Tom Szabo, Telanetix chairman and CEO. "We continue to fortify our position in the industry with the introduction of key new video and voice product offerings that expand our range of available market, and we continue to focus on product and operational efficiencies to further enhance our gross profit margin."
"2007 was a transformational year for Telanetix," stated Rick Ono, Telanetix COO. "The strong fourth quarter, with the integration of our voice and video businesses, drove our 2007 full year revenue to $12.2 million. Our significantly higher run rate enables us to operate on a much broader scale with the opportunity to enjoy accelerated growth."
Management will conduct a conference call at 1:30 pm PT today to discuss the company's fourth quarter and year end 2007 results. The call will be available for replay for 90 days at http://www.telanetix.com/. A telephone replay will be available two hours after the call through March 27, 2008 by dialing 888-286-8010. International callers should dial 617-801-6888. All parties will need the following replay pass code 61157171.
About Telanetix, Inc.
Telanetix is a leading IP solutions provider offering telepresence and advanced communication services to the SMB and SME markets. By leveraging on ubiquitous network infrastructures, Telanetix's solutions meet the real-world communications demands of its customers. The company's core technologies include a Telepresence offering, called Digital Presence(TM), designed to create fully immersive and interactive meeting environments that incorporate voice, video and data from multiple locations into a single environment; and IP enabled enhanced services that give companies flexible calling solutions at a fraction of the price of traditional telecom providers. Additional information can be found at the Telanetix corporate website, http://www.telanetix.com/.
Telanetix, Inc.
CONTACT: Rick Ono of Telanetix, Inc., +1-858-362-2250, rick@telanetix.com; or Investor Relations, Kirsten Chapman of Lippert-Heilshorn & Associates, +1-415-433-3777, ir@telanetix.com; or Media, Todd Barrish of Dukas PR, +1-212-704-7385, todd@dukaspr.com, both for Telanetix, Inc.
Web site: http://www.telanetix.com/
Oracle Achieves World Record Result on the SAP(R) SD-Parallel Standard Application BenchmarkOracle(R) Database with Oracle Real Application Clusters on IBM System p 570 with POWER6 Processors Demonstrates Superior Scalability and Performance
REDWOOD SHORES, Calif., March 25 /PRNewswire-FirstCall/ -- Oracle today announced a new world-record result on the SAP(R) Sales and Distribution- Parallel (SD-Parallel) Standard Application Benchmark running on the SAP ERP 6.0 application.(1) With these results, Oracle(R) Database with Oracle Real Application Clusters continues to demonstrate exceptional grid computing capabilities, delivering superior performance, scalability, and value.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO)
Running IBM AIX 5L(TM) 5.3 on a 5-node IBM System p(TM) 570 Server cluster, each with 8 dual-core 4.7 GHz POWER6 processors, Oracle Database with Oracle Real Application Clusters achieved 37,040 SAP SD-Parallel Benchmark users, outperforming the previous world record of 36,000 SD-Parallel Benchmark users, held by Oracle on the same platform configuration.(2) This world record is the highest ever measured result on the SAP SD-Parallel Standard Application Benchmark based on the number of SAP SD-Parallel Benchmark users.
In addition, Oracle and IBM also delivered excellent two, three, and four- node results on the IBM System p(TM) 570 Server cluster, demonstrating the exceptional scalability of Oracle Database with Oracle Real Application Clusters running on highly scalable SMP servers.(3) When measured from two, three, four and five-node configurations, as documented and certified by SAP, Oracle Database with Oracle Real Application Clusters shows an impressive 93 percent scalability, achieving 15,520, 22,416, 30,016 and 37,040 SAP SD- Parallel Benchmark users, respectively, while providing a high level of performance and availability.
"These benchmark results are vivid proof that Oracle Real Application Clusters delivers unique capabilities and outstanding value to customers. The stellar SAP benchmark result clearly demonstrates that Oracle Real Application Clusters provides near linear scalability as nodes are added to the cluster, even for highly advanced applications such as those from SAP," said Juan Loaiza, senior vice president, Systems Technology, Oracle. "Further, Oracle Real Application Clusters provides availability benefits that cannot be achieved in single SMP environments. The combination of linear scalability, and high availability on leading platforms such as the IBM System p(TM) 570 Server cluster provides an outstanding platform for deployments of SAP solutions."
About SAP Standard Application Benchmarks
SAP Standard Application Benchmarks were developed by SAP AG to provide comparative load analysis of SAP solutions. These results, as of March 25, 2008, have been certified by SAP AG. The SAP certification number for the latest results was not available at press time and can be found at the following Web page: http://www.sap.com/benchmark.
About Oracle
Oracle is the world's largest enterprise software company. For more information about Oracle, visit our Web site at http://www.oracle.com/.
Trademarks
Oracle is a registered trademark of Oracle Corporation and/or its affiliates. SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. Other names may be trademarks of their respective owners.
(1) The SAP SD-Parallel Standard Application Benchmark performed on
November 26, 2007 by IBM in Beaverton, OR, USA has been certified
with the following data: 37,040 SAP SD-Parallel Benchmark users,
1.86 seconds average dialog response time, 3,749,000 fully processed
order line items per hour, 11,247,000 dialog steps per hour, 187,450
SAPS. Server configuration: IBM System p 570, 8 processors/16
cores/32 threads, POWER6, 4.7 GHz, 128 KB L1 cache and 4 MB L2 cache
per core, 32 MB L3 cache per processor, 128 GM main memory, running
AIX 5L version 5.3, Oracle 10g Real Application Clusters and SAP ERP
6.0. The SAP certification number was not available at press time and
can be found at http://www.sap.com/benchmark.
(2) The SAP SD-Parallel Standard Application Benchmark performed on
November 6, 2007 by IBM in Beaverton, OR, USA has been certified with
the following data: 36,000 SAP SD-Parallel Benchmark users, 1.76
seconds average dialog response time, 3,673,670 fully processed order
line items per hour, 11,021,000 dialog steps per hour, 183,680 SAPS.
Server configuration: IBM System p 570, 8 processors/16 cores/32
threads, POWER6, 4.7 GHz, 128 KB L1 cache and 4 MB L2 cache per core,
32 MB L3 cache per processor, 128 GM main memory, running AIX 5L
version 5.3, Oracle 10g Real Application Clusters and SAP ERP 6.0.
Certification number: 2007066
(http://www.sap.com/solutions/benchmark/pdf/Cert6607.pdf)
(3) The SAP certification number for the following 2, 3 and 4-node results
was not available at press time and can be found at
http://www.sap.com/benchmark.
Four-node Results -- The SAP SD-Parallel Standard Application Benchmark performed on November 14, 2007 by IBM in Beaverton, OR, USA has been certified with the following data: 30,016 SAP SD-Parallel Benchmark users, 1.86 seconds average dialog response time, 3,036,000 fully processed order line items per hour, 9,018,000 dialog steps per hour, 1151,800 SAPS. Server configuration: IBM System p 570, 8 processors/16 cores/32 threads, POWER6, 4.7 GHz, 128 KB L1 cache and 4 MB L2 cache per core, 32 MB L3 cache per processor, 128 GM main memory, running AIX 5L version 5.3, Oracle 10g Real Application Clusters and SAP ERP 6.0.
Three-node Results -- The SAP SD-Parallel Standard Application Benchmark performed on November 16, 2007 by IBM in Beaverton, OR, USA has been certified with the following data: 22,416 SAP SD-Parallel Benchmark users, 1.94 seconds average dialog response time, 2,252,330 fully processed order line items per hour, 6,757,000 dialog steps per hour, 112,620 SAPS. Server configuration: IBM System p 570, 8 processors/16 cores/32 threads, POWER6, 4.7 GHz, 128 KB L1 cache and 4 MB L2 cache per core, 32 MB L3 cache per processor, 128 GM main memory, running AIX 5L version 5.3, Oracle 10g Real Application Clusters and SAP ERP 6.0.
Two-node Results -- The SAP SD-Parallel Standard Application Benchmark performed on November 16, 2007 by IBM in Beaverton, OR, USA has been certified with the following data: 15,520 SAP SD-Parallel Benchmark users, 1.94 seconds average dialog response time, 1,559,330 fully processed order line items per hour, 4,678,000 dialog steps per hour, 77,970 SAPS. Server configuration: IBM System p 570, 8 processors/16 cores/32 threads, POWER6, 4.7 GHz, 128 KB L1 cache and 4 MB L2 cache per core, 32 MB L3 cache per processor, 128 GM main memory, running AIX 5L version 5.3, Oracle 10g Real Application Clusters and SAP ERP 6.0.
Contacts:
Teri Whitaker Kristin Reeves
Oracle Blanc & Otus Public Relations for Oracle
650.506.9915 415.856.5145
teri.whitaker@oracle.com kreeves@bando.com
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Oracle
CONTACT: Teri Whitaker of Oracle, +1-650-506-9915, teri.whitaker@oracle.com; or Kristin Reeves of Blanc & Otus Public Relations, +1-415-856-5145, kreeves@bando.com, for Oracle
Web site: http://www.oracle.com/
TRM Corporation Announces Its Application for the NASDAQ Capital Market Was Denied
PORTLAND, Ore., March 25 /PRNewswire-FirstCall/ -- TRM Corporation today announced that it received a NASDAQ Staff Determination Letter on March 19, 2008 denying TRM's application to transfer its shares to the NASDAQ Capital Market due to its failure to demonstrate compliance with the NASDAQ Capital Market's initial inclusion requirements (other than bid price) as set forth in Marketplace Rule 4310(c). TRM received an additional NASDAQ Staff Determination Letter dated March 19, 2008 stating that TRM's shares will be delisted from the NASDAQ Global Market as a result of the Company's failure to satisfy the minimum stock price requirement of the NASDAQ Global Market as set forth in Marketplace Rule 4450(a).
On March 12, 2008, TRM announced that it had failed to comply with NASDAQ's minimum bid price requirement and as a result, no longer met the requirements for continued listing on the NASDAQ Global Market. After discussions between the Company and NASDAQ staff members, the Company filed its election to transfer to the NASDAQ Capital Market. Based on such discussions with NASDAQ staff members, the Company understood that such filing would result in an additional 180 days to become compliant. Subsequently, NASDAQ informed the Company that it would not receive such additional time because it did not meet initial listing requirements of the NASDAQ Capital Market.
Unless TRM requests an appeal of the delisting determination, NASDAQ will suspend trading of TRM's common stock at the open of business on March 28, 2008, and the common stock will subsequently be delisted. TRM plans to appeal the Staff's determination and request a hearing no later than March 26, 2008, which will stay any delisting action pending the issuance of a decision by the Panel following the hearing.
About TRM Corporation
TRM Corporation is a consumer services company that provides convenience ATM services in high-traffic consumer environments. TRM's ATM customer base is widespread, with retailers throughout the United States. TRM operates the second largest non-bank ATM network in the United States.
Forward-Looking Statements
Statements made in this news release that are not historical facts are forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, such as consumer demand for our services; access to capital; changes in interest rates; maintaining satisfactory relationships with our banking partners; our ability to continue to reduce attrition in our existing ATM estate and to add new ATMs; technological change; our ability to control costs and expenses; competition and our ability to successfully implement our acquisition strategy. Additional information on these factors, which could affect our financial results, is included in our annual report on Form 10-K for the fiscal year ended December 31, 2006 and in our quarterly reports on Form 10-Q for the quarters ended March 30, 2007, June 30, 2007 and September 30, 2007 under the caption "Risk Factors" and elsewhere in such reports. Finally, there may be other factors not mentioned above or included in our SEC filings that could cause actual results to differ materially from those contained in any forward-looking statement. Undue reliance should not be placed on any forward-looking statement, which reflects management's analysis only as of the date of the statement. We assume no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
TRM Corporation
CONTACT: Ashley Ammon MacFarlane, or Brian Prenoveau, CFA, both of ICR, Inc., +1-203-682-8200, for TRM Corporation
Web site: http://www.trm.com/
Microsoft and Sourcesense Partner to Contribute to Open Source, Apache POI to Support Ecma Office Open XML File FormatsCompanies to collaborate on the development of open source solutions for the Microsoft Office product suite.
REDMOND, Wash., and MILAN, Italy, March 25 /PRNewswire-FirstCall/ -- Microsoft Corp. and Sourcesense, a leading European open source systems integration consultancy, today announced that the two companies will collaborate on the strategy, development and deployment of open source solutions for the Microsoft Office product suite.
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One of the initial goals of the partnership is contributing to the development of a new version of Apache POI, a top-level project of the Apache Software Foundation (ASF). Widely used in financial services and critical enterprise applications across related sectors, Apache POI is a leading open source file format reader and writer to create, edit and read Microsoft Office formats used in Excel, Word, PowerPoint and Visio.
Apache POI is a Java application programming interface (API) used to access and manage Microsoft Office binary formats, and can be easily applied to today's billions of binary format documents by alleviating the need for complex programming and/or reverse engineering. Because Apache POI libraries are used in numerous open source projects, developing future libraries to support the Ecma Office Open XML File Formats (the default file format in the 2007 Microsoft Word, Excel and PowerPoint products) will play an important role in new interoperability scenarios where XML-based standard formats will be key for Office documents.
"Donating code to an established, consensus-driven organization such as the Apache Software Foundation benefits both our customers and the open source community at large," said Sam Ramji, senior director of Platform Technology Strategy at Microsoft. "By helping contribute to new Apache solutions, we are putting our intentions into action, and giving back to this dynamic community. We're excited to work with Sourcesense, whose experience in catalyzing Apache technologies and open development practices makes it the ideal partner."
"Apache POI support for Open XML is compelling. It makes it easier to integrate, manage and deploy across the enterprise, and opens up valuable user contributions and feedback -- an essential step to the interoperability and adoption of many collaboratively developed technologies," said Gianugo Rabellino, CEO of Sourcesense. "Microsoft's participation with the Apache community reinforces its commitment to bridging open standards with Open Source. Through our SHARE methodology, companies are able to more efficiently introduce, control and manage Open Source technology across their organization. The timing is perfect, and we're thrilled to be a part of this important milestone."
Apache POI support for Open XML is currently in development within the Apache Software Foundation; its first release is anticipated during the second quarter of 2008. Code contributions are made by ASF members and committers (developers authorized to "commit" or "write" code, patches or documentation to the ASF repository), and overseen by the Apache POI Project Management Committee (PMC).
A half-day training session on how to use Apache POI, led by Nick Burch, Apache POI PMC Chair, will be held at ApacheCon Europe in Amsterdam, Netherlands, taking place April 7-11, 2008. Those interested can visit http://eu.apachecon.com/ for training details and registration.
The community is welcome to participate by joining Apache POI mailing lists, submitting bug fixes, writing documentation and more. Downloads, documentation, participation and community information can be found at http://poi.apache.org/.
About Sourcesense
Sourcesense is Europe's leading Open Source systems integrator. Founded in 2006 as a merger of three consultancies specializing in Open Source implementation, configuration, and support, Sourcesense provides enterprise-grade solutions around key Open Source technologies. From Global Fortune 100 corporations to cutting-edge multimedia start-ups, Sourcesense clients rely on the company's deep expertise in Open Source, with proven success in integration, innovation, and strategic advice on creating and sustaining competitive advantage by leveraging the latest industry developments. Sourcesense team members are highly regarded as long-term contributors to numerous prominent organizations in the Open Source community, including numerous projects and emerging initiatives currently in incubation at The Apache Software Foundation. For more information, visit http://www.sourcesense.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.
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Microsoft Corp.
CONTACT: For more information, press only, Rapid Response Team, Waggener Edstrom Worldwide, +1-503-443-7070, rrt@waggeneredstrom.com, for Microsoft; or Sally Khudairi of HALO Worldwide, +1-617-921-8656, sk@haloworldwide.com, for Sourcesense
Web site: http://www.microsoft.com/ http://www.sourcesense.com/ http://poi.apache.org/
American Red Cross of Northwest Florida Receives $35,000 Contribution From AT&T
PENSACOLA, Fla., Mar. 25 /PRNewswire-FirstCall/ -- AT&T Inc. today announced a $35,000 contribution to the American Red Cross of Northwest Florida for its Shelter Acquisition and Volunteer Training programs. These programs will help the American Red Cross of Northwest Florida be prepared to meet the needs of those in the community who go to shelters for safety and protection during hurricanes and other emergency events.
The Shelter Acquisition program will enable the American Red Cross to dedicate staff and volunteers to the process of identifying, surveying and certifying shelters to house disaster evacuees. The Red Cross strives to have enough shelters to house 10 percent of the combined population of Escambia, Okaloosa, Santa Rosa and Walton counties. The grant will also be applied to the purchase of equipment needed to support shelters and mobile feeding units, which are often used to provide hot meals.
The American Red Cross of Northwest Florida is called on repeatedly to provide vital assistance and keep the residents of the Florida panhandle safe during difficult times," said Marshall Criser, president, AT&T Florida. "AT&T is proud to help the Red Cross to make a positive difference in the lives of those in need by helping it prepare northwest Florida for emergencies."
The grant will also enable the Red Cross to train volunteers in shelter management, mass feeding and bulk distribution of relief supplies. The American Red Cross provides extensive disaster training for all volunteer staff involved in relief operations, at no cost to the volunteers.
"It is imperative that the American Red Cross provide shelter when a disaster strikes, and this grant will help us to respond faster than ever," said Linda Biller, CEO for the American Red Cross of Northwest Florida.
About AT&T
AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.
(C) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.
Note: This AT&T news release and other announcements are available as part of an RSS feed at http://www.att.com/rss. For more information, please review this announcement in the AT&T newsroom at http://www.att.com/newsroom.
About the Red Cross
The American Red Cross helps people prevent, prepare for and respond to emergencies. Last year, almost a million volunteers and 35,000 employees helped victims of almost 75,000 disasters; taught lifesaving skills to millions; and helped U.S. service members separated from their families stay connected. Almost 4 million people gave blood through the Red Cross, the largest supplier of blood and blood products in the United States. The American Red Cross is part of the International Red Cross and Red Crescent Movement. An average of 91 cents of every dollar the Red Cross spends is invested in humanitarian services and programs. The Red Cross is not a government agency; it relies on donations of time, money, and blood to do its work.
AT&T Inc.
CONTACT: Don Sadler of AT&T, +1-305-347-5470, Mobile, +1-305-965-7680, ds4400@att.com; or Linda Biller of American Red Cross of Northwest Florida, +1-850-432-7601, Mobile, +1-850-393-1126
Web site: http://www.att.com/
SureWest Launches Nationwide Remote Monitoring ServiceMonitor Your Home From Anywhere in the World through a Computer or Wireless Device
ROSEVILLE, Calif., March 25 /PRNewswire-FirstCall/ -- Have you ever left for vacation and sat at the airport wondering if you turned off all the lights in your home? Do you sit at work and wonder if your kids are going to call you when they get home from school like you asked them to?
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Leading independent communications holding company SureWest Communications is now helping consumers put an end to those types of questions. SureWest today announced the launch of SureWest Remote Monitoring, a service that allows customers to control and monitor devices in their home from anywhere in the world through computers or wireless devices, including compatible cell phones and PDAs.
Enabling people to stay close to the things they value most, SureWest Remote Monitoring can be programmed to deliver live or recorded video and still images, as well as sensor notifications for things such as motion, door and window activity, water leakage and temperature change. Additionally, consumers can be more environmentally conscious by controlling the energy usage of appliances in their everyday residence, a business location or a vacation home.
"This new and advanced product provides customers with an innovative and convenient way to keep a protective eye on the things that are most valuable in their lives," said Bill DeMuth, SureWest senior vice president and chief technology officer. "It's an affordable and simple option when it comes to managing and monitoring your home or office. You can control your kitchen lights, check on pets, receive e-mail alerts if a window is opened, or watch your kids come home from school from virtually anywhere in the world."
SureWest Remote Monitoring is currently available to anyone in the nation in or out of the SureWest service territory who has a high-speed Internet connection. Due to the uploading and downloading of video files, customers on SureWest's own fiber-to-the-home network, which delivers the fastest residential Internet speeds in the nation, can expect to have a superior experience with the product compared with other Broadband platforms.
A starter package of equipment used with the service features an IP camera, door/window sensor, wireless gateway and software/instructions and is available for a one-time cost of $199.99. The service is provided for $9.99 a month or a one-time annual payment of $105.99 for a full year of service.
Enhancements to the service can be made through additional available equipment, such as additional cameras with pan-and-tilt capability, additional sensors, wireless temperature and water sensors, and wireless power controls for light fixtures or other appliances.
The customer can manage all monitoring equipment online through an integrated Web-based portal. Users can access live video feeds, still images and updates from the portal, as well as create customized alerts when specific conditions occur such as motion detection or temperature activity. Online access is controlled with security codes to prevent unauthorized access.
DeMuth continued, "This is an exciting and progressive product that takes advantage of advanced telecommunications and Internet technology, and adds to our cutting edge suite of Broadband services. Customers who take advantage of our high bandwidth network and blazing Internet speeds will be pleased with the superior experience this product offers."
For more information or to order the service, customers can call 866.534.6236 or visit http://www.surewestrm.com/.
About SureWest
SureWest Communications (http://www.surewest.com/) is one of the nation's leading integrated communications providers and is the bandwidth leader in the markets it serves under the SureWest and Everest brands. Headquartered in Northern California for more than 90 years, SureWest's bundled residential and commercial offerings include an array of advanced IP-based digital video, high-speed Internet, local and long distance telephone, and wireless PCS. Its fiber-to-the-premise IP-based network features high-definition video and symmetrical Internet speeds of up to 50 Mbps. In the greater Kansas City region, Everest (http://www.everestkc.com/) is a network-based residential and commercial provider of voice, digital video and high-speed Internet services.
Ron Rogers of SureWest Communications
+1-916-223-6199
r.rogers@surewest.com
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SureWest Communications
CONTACT: Ron Rogers of SureWest Communications, +1-916-223-6199, r.rogers@surewest.com
Web site: http://www.surewest.com/ http://www.surewestrm.com/
Autodesk Recognizes Elite Platinum Club of Top-Performing ResellersInductees Upheld as Examples in Outstanding Customer Service and Sales Performance
SAN RAFAEL, Calif., March 25 /PRNewswire-FirstCall/ -- At its recent annual channel partner conference, One Team Conference (OTC), Autodesk, Inc. honored 48 value-added resellers by inducting them into Platinum Club 2008, an elite group recognized for top sales performance and outstanding customer service in fiscal year 2008.
"The Autodesk Platinum Club comprises a talented group of professionals dedicated to our customers," said Steve Blum, Autodesk senior vice president of Americas Sales. "By helping customers take advantage of Autodesk's innovative digital design software and encouraging the adoption of forward-thinking capabilities such as digital modeling and visualization, these resellers are enabling customers to gain insight into the impact and function of their design ideas before they are real."
Autodesk Platinum Club members include channel partners who have excelled in sales, growth and other key measures. The Platinum Club also includes channel partners who were the leading education, government or distribution partners in their Americas sales region.
Platinum Club 2008 Winners
Category Partner/Winner Principal/Individual
Winner
25 Years as an Applied Software
Autodesk VAR Technology, Inc. Richard Burroughs, III
25 Years as an
Autodesk VAR Autodraft, Inc. Claire Botkin
25 Years as an CADD Centers of
Autodesk VAR Florida, Inc. Richard Neiman
25 Years as an
Autodesk VAR IRISCO Ricardo Talbort
25 Years as an
Autodesk VAR Kelar Corporation Mo Mansouri
25 Years as an KETIV Technologies of
Autodesk VAR CA, Inc. Kanwar Anand
25 Years as an Robotech CAD
Autodesk VAR Solutions, Inc. Shlomo Marom
Canada Media and
Entertainment
Criteria Annex Pro Kerry Corlett
Canada Top BSD
Growth Autodraft, Inc. Claire Botkin
Canada Top MSD
Growth IRISCO Ricardo Talbort
Canada Top Reseller CAD Microsolutions,
in Total Volume Inc. Brad Porter
Customer Loyalty -
Truly Loyal CAD Masters, Inc. Michael Self
Customer Loyalty -
Truly Loyal JVH Engineering, Inc. James Jacobitz
Education Growth CVIS Dr. William Rice
Education Volume Torcomp, Inc. Frank Nanfara
FY'08 Reseller of
the Year D3 TECHNOLOGIES Kevin Schlack
ISV Partner - Total
Volume 2020 Technologies Steve Compton
ISV Partner - YOY Open Archive/Service
Growth Point Dave Wilson
Latin America Media
and Entertainment Francisco Tripiano
Criteria Cadritech & Claudia Possenti
Latin America Top
Distributor Highest
% of Quota PARS Pedro Da Silva
Latin America Top
Distributor YOY
Growth Incotel Gustavo Crescio
Latin America Top
Reseller in Total
Volume COMGRAP Gabriela Ward
Latin America Top
Vertical Reseller Mapdata Paulo Eduardo Onuchic
M&E Systems - Most
Valued Reseller
Award AltSystems, Inc Lauren Guess
M&E Systems - Most
Valued Reseller
Award CineSys, Inc. Mike Winkelmann
Marketing
Excellence MasterGraphics, Inc. Darin Tessier
Media and
Entertainment Austin Business
Criteria (E) Computers Barbara Bottorf
Media and
Entertainment
Criteria (E) RFX Ray Feeney
Rookie Partner of InterWEST Technology
the Year Group (ITG) Jeremy Hale
Top "Shooting Star" Sandra Birmaher Sandra Birmaher
Applied Technology
Top Bookings Growth Group, Inc. Scott Landers
Top Subscription CADD Microsystems,
Renewal Inc. Jeff Gravatte
Top US Government
Reseller - Growth Microdesk, Inc. Michael Delacey
Top US Government The D.C. CADD
Reseller - Volume Company, Inc. Doug Wietbrock
Vertical Awards - Microsol Resources
M&E V Growth Corp. Emilio Krausz
Vertical Awards -
Top BSD Growth The PPI Group Tigue Howe
Vertical Awards -
Top BSD Volume Ideate, Inc. Bob Palioca
Vertical Awards -
Top ISD Volume Comm-Tech Mike Ontiveros
Vertical Awards - Total Cad Systems,
Top ISD-C Growth Inc. Roger Padamada
Vertical Awards -
Top ISD-G Growth Avatech Solutions George Davis
Vertical Awards - Advanced Micro
Top MSD Growth Systems, Inc. Brad Whittemore
Vertical Awards -
Top MSD Volume ALACAD Kirk Newell
Volume Sales Awards
- AutoCAD Map 3D Construction Industry
Seats Solutions, Corp. Sharon Lechon
Volume Sales Awards Applied Software
- Revit Seats Technology, Inc. Richard Burroughs, III
Volume Sales Awards
- Total Volume
(1st) U.S. Cad, Inc. Danny Counts
Volume Sales Awards
- Total Volume
(2nd) ECAD, Inc. Carole Eckert
Volume Sales
Awards- Autodesk
Inventor
Suite/Autodesk
Inventor Synergis
Professional Seats Technologies, Inc. Betty Broza
Volume Sales
Awards- AutoCAD
Civil 3D Seats CAD-1, Inc. James Sirko, P.E.
About Autodesk
Autodesk, Inc. is the world leader in 2D and 3D design software for the manufacturing, building and construction, and media and entertainment markets. Since its introduction of AutoCAD software in 1982, Autodesk has developed the broadest portfolio of state-of-the-art digital prototyping solutions to help customers experience their ideas before they are real. Fortune 1000 companies rely on Autodesk for the tools to visualize, simulate and analyze real-world performance early in the design process to save time and money, enhance quality and foster innovation. For additional information about Autodesk, visit http://www.autodesk.com/.
Autodesk, AutoCAD, Autodesk Inventor, Civil 3D, Inventor and Revit are registered trademarks or trademarks of Autodesk, Inc., in the USA and/or other countries. All other brand names, product names, or trademarks belong to their respective holders. Autodesk reserves the right to alter product offerings and specifications at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.
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Contact: Angela Simoes, 415-547-2388
Email: angela.simoes@autodesk.com
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Autodesk, Inc.
CONTACT: Angela Simoes of Autodesk, Inc., +1-415-547-2388, angela.simoes@autodesk.com
Web site: http://www.autodesk.com/
comScore Executive Chairman and Co-Founder Gian Fulgoni Will Be Moderating Public Session Entitled, 'Online is the New Primetime' at the 54th Annual ARF Convention & ExpoPresentation Includes a Panel Discussion with Leading Industry Experts from Top Companies on the Latest Trends in Internet AdvertisingMEDIA ADVISORY For March 31, 2008
RESTON, Va., March 25 /PRNewswire-FirstCall/ --
What: comScore Executive Chairman and co-Founder Gian Fulgoni will be
moderating a panel discussion called, Online is the New
Primetime, as part of Re: Think 2008, the 54th Annual ARF
Convention & Expo. During the two-hour public session, leading
industry experts will share the latest insights into the
migration of ads online, while discussing the challenges and
opportunities advertisers are facing as they re-invent the way
they reach customers through the online channel.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO)
The session is free and open to media, even those not
registered for the ARF conference. To gain admission, please
visit http://www.comscore.com/request/Online_New_Primetime.asp
so you can download the event ticket. Print and fill out the
form and bring it with you to the ARF registration area.
Please also RSVP by replying to avollman@comscore.com.
Who: Moderator:
Gian Fulgoni, Executive Chairman and co-Founder, comScore, Inc.
Panelists:
Peter Daboll, Chief of Insights, Yahoo!
Lee Doyle, CEO, Mediaedge: cia North America
Ash ElDifrawi, Chief Marketing Officer, Netshops formerly
Director, Brand Advertising, Google/YouTube
Stephen Kim, Global Marketing Director, Microsoft Digital
Ted McConnell, Director, Interactive Marketing and Innovation,
P&G
Where: New York Marriott Marquis 8th floor, Manhattan Ballroom
1535 Broadway New York, NY 10036
When: Monday, March 31, 2008 from 3 to 5 pm ET
About comScore
comScore, Inc. is a global leader in measuring the digital world. For more information, please visit http://www.comscore.com/boilerplate.
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comScore, Inc.
CONTACT: Andrew Lipsman of comScore, Inc., +1-312-775-6510, press@comscore.com
Web site: http://www.comscore.com/
Microsoft and Sourcesense Partner to Contribute to Open Source, Apache POI to Support Office Open XML File Formats
REDMOND, Washington and MILAN, Italy, March 25 /PRNewswire/ --
- Companies to collaborate on the development of open source solutions
for the Microsoft Office product suite.
Microsoft Corp and Sourcesense, a leading European open source systems
integration consultancy, today announced that the two companies will
collaborate on the strategy, development and deployment of open source
solutions for the Microsoft Office product suite.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO )
One of the initial goals of the partnership is contributing to the
development of a new version of Apache POI, a top-level project of the Apache
Software Foundation (ASF). Widely used in financial services and critical
enterprise applications across related sectors, Apache POI is a leading open
source file format reader and writer to create, edit and read Microsoft
Office formats used in Excel, Word, PowerPoint and Visio.
Apache POI is a Java application programming interface (API) used to
access and manage Microsoft Office binary formats, and can be easily applied
to today's billions of binary format documents by alleviating the need for
complex programming and/or reverse engineering. Because Apache POI libraries
are used in numerous open source projects, developing future libraries to
support the Ecma Office Open XML File Formats (the default file format in the
2007 Microsoft Word, Excel and PowerPoint products) will play an important
role in new interoperability scenarios where XML-based standard formats will
be key for Office documents.
"Donating code to an established, consensus-driven organisation such as
the Apache Software Foundation benefits both our customers and the open
source community at large," said Sam Ramji, senior director of Platform
Technology Strategy at Microsoft. "By helping contribute to new Apache
solutions, we are putting our intentions into action, and giving back to this
dynamic community. We're excited to work with Sourcesense, whose experience
in catalysing Apache technologies and open development practices makes it the
ideal partner."
"Apache POI support for Open XML is compelling. It makes it easier to
integrate, manage and deploy across the enterprise, and opens up valuable
user contributions and feedback - an essential step to the interoperability
and adoption of many collaboratively developed technologies," said Gianugo
Rabellino, CEO of Sourcesense. "Microsoft's participation with the Apache
community reinforces its commitment to bridging open standards with Open
Source. Through our SHARE methodology, companies are able to more efficiently
introduce, control and manage Open Source technology across their
organisation. The timing is perfect, and we're thrilled to be a part of this
important milestone."
Apache POI support for Open XML is currently in development within the
Apache Software Foundation; its first release is anticipated during the
second quarter of 2008. Code contributions are made by ASF members and
committers (developers authorised to "commit" or "write" code, patches or
documentation to the ASF repository), and overseen by the Apache POI Project
Management Committee (PMC).
A half-day training session on how to use Apache POI, led by Nick Burch,
Apache POI PMC Chair, will be held at ApacheCon Europe in Amsterdam,
Netherlands, taking place 7-11 April 2008. Those interested can visit
http://eu.apachecon.com/ for training details and registration.
The community is welcome to participate by joining Apache POI mailing
lists, submitting bug fixes, writing documentation and more. Downloads,
documentation, participation and community information can be found at
http://poi.apache.org.
About Sourcesense
Sourcesense is Europe's leading Open Source systems integrator. Founded
in 2006 as a merger of three consultancies specialising in Open Source
implementation, configuration, and support, Sourcesense provides
enterprise-grade solutions around key Open Source technologies. From Global
Fortune 100 corporations to cutting-edge multimedia start-ups, Sourcesense
clients rely on the company's deep expertise in Open Source, with proven
success in integration, innovation, and strategic advice on creating and
sustaining competitive advantage by leveraging the latest industry
developments. Sourcesense team members are highly regarded as long-term
contributors to numerous prominent organisations in the Open Source
community, including numerous projects and emerging initiatives currently in
incubation at The Apache Software Foundation. For more information, visit
http://www.sourcesense.com/
About Microsoft
Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide leader in
software, services and solutions that help people and businesses realise
their full potential.
About Microsoft EMEA (Europe, Middle East and Africa)
Microsoft has operated in EMEA since 1982. In the region Microsoft
employs more than 16,000 people in over 64 subsidiaries, delivering products
and services in more than 139 countries and territories.
This material is for informational purposes only. Microsoft Corp
disclaims all warranties and conditions with regard to use of the material
for other purposes. Microsoft Corp shall not, at any time, be liable for any
special, direct, indirect or consequential damages, whether in an action of
contract, negligence or other action arising out of or in connection with the
use or performance of the material. Nothing herein should be construed as
constituting any kind of warranty.
Web site: http://www.microsoft.com
Microsoft Corp
Rapid Response Team, Waggener Edstrom Worldwide, +1-503-443-7070, emearesponse@waggeneredstrom.com, for Microsoft; or Sally Khudairi of HALO Worldwide, +1-617-921-8656, sk@haloworldwide.com, for Sourcesense. NOTE TO EDITORS: If you are interested in viewing additional information on Microsoft in EMEA, please visit http://www.microsoft.com/emea or the EMEA Press Centre at http://www.microsoft.com/emea/presscentre. Web links, telephone numbers and titles were correct at the time of publication, but may since have changed. For additional assistance, journalists and analysts may contact the appropriate contacts listed at http://www.microsoft.com/emea/presscentre/contactus.mspx. If you are interested in viewing additional information on Microsoft Corp, please visit the Microsoft web page at http://www.microsoft.com/presspass on Microsoft's corporate information pages. Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO, AP Archive: http://photoarchive.ap.org, PRN Photo Desk photodesk@prnewswire.com
Intrusion Inc. Announces Financial Release Date and Conference Call
RICHARDSON, Texas, March 25 /PRNewswire-FirstCall/ -- Intrusion Inc. (BULLETIN BOARD: INTZ) , ("Intrusion") will announce fourth quarter and year end 2007 financial results on Wednesday, March 26, 2008. The press release will be published over the wire services after the market closes. The release will also be available on the company's web site at http://www.intrusion.com/. Intrusion management will review the Company's financial and operational progress for the fourth quarter and 2007 calendar year during a conference call later that day at 4:00 P.M., CDT.
Interested investors can access the call at 1-800-399-2043 (outside the United States, please dial 1-706-634-5518) at 4:00 P.M., CDT. For those unable to participate in the live conference call, a replay will be accessible beginning March 26, 2008 at approximately 7:00 P.M., CDT until April 2, 2008 by calling 1-800-642-1687 (if outside the United States, 1-706-645-9291). At the replay prompt, enter conference identification number 41042829. In addition, a live and archived audio webcast of the conference call will be available at http://www.intrusion.com/.
About Intrusion Inc.
Intrusion Inc. is a global provider of data leak prevention, regulated information compliance, entity identification systems, and network intrusion prevention and detection solutions. Intrusion's product families include the Compliance Commander(TM) for data leak prevention and regulated information compliance, TraceCop identification and location system, and Intrusion SecureNet(TM) for network intrusion prevention and detection. Intrusion's products help protect critical information assets by quickly detecting, protecting, analyzing and reporting attacks or misuse of classified, private and regulated information for government and enterprise networks. For more information, please visit http://www.intrusion.com/.
Contact
Michael L. Paxton, VP, CFO
972.301.3658, mpaxton@intrusion.com
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Intrusion Inc.
CONTACT: Michael L. Paxton, VP, CFO of Intrusion Inc., +1-972-301-3658, mpaxton@intrusion.com
Web site: http://www.intrusion.com/
ITEX Responds to Western Sizzlin Changes to Unsolicited Tender OfferContinues to Recommend Shareholders Reject Offer
BELLEVUE, Wash., March 25 /PRNewswire-FirstCall/ -- ITEX Corporation (BULLETIN BOARD: ITEX) , The Membership Trading Community(SM), a leading marketplace for cashless business transactions in North America, today issued the following statement regarding Western Sizzlin's decision to remove conditions to its unsolicited exchange offer to acquire shares of ITEX for consideration consisting solely of shares of Western Sizzlin common stock:
"The situation has not changed -- our Board of Directors continues to believe that Western Sizzlin's bid is wholly inadequate and recommends that shareholders NOT tender their shares. Not only is the offer worth less now than originally announced, it does not reflect the true value of ITEX or its growth prospects. Furthermore, the value of the consideration being offered is uncertain, illiquid, and fully dependent on the future value of Western Sizzlin common stock. For the few ITEX shareholders that have tendered, we urge them to withdraw their shares by notifying the Western Sizzlin exchange agent immediately, as they will lose the right to withdraw tomorrow afternoon."
Steven White, ITEX Chairman and Chief Executive Officer explained, "Demonstrating the volatility and illiquidity of Western Sizzlin common stock, since the exchange offer commenced on December 27, 2007, the stock price has declined by approximately 12%, there have been nine days with no trading activity, and at one point their stock hit a low of $12.80. Western Sizzlin believed that obtaining its recent NASDAQ listing would result in enhanced liquidity. But lack of liquidity continues to weigh on Western Sizzlin's stock. ITEX's stock continues to have almost twenty times the average daily trading volume of Western Sizzlin."
"Western Sizzlin has extended its exchange offer twice with the latest extension and shareholder withdrawal rights set to expire tomorrow, Wednesday, March 26, 2008. Western Sizzlin has continued to pursue its offer with minimal success. The vast majority of ITEX shareholders have demonstrated that they recognize the offer is not beneficial to them. In its last update on February 29, 2008, Western Sizzlin reported that shares representing just 5% of ITEX had been tendered. Unfortunately, Western Sizzlin shareholders are burdened with estimated tender costs of $250,000, and ITEX shareholders are forced into their own costs to respond; a poor use of capital and resources in my judgment."
"On March 13, 2008, Western Sizzlin dropped many of the conditions related to its offer, including its previous requirement that Western Sizzlin acquire 60% of ITEX's shares before the exchange could take place," Mr. White continued. "Essentially admitting failure, Western Sizzlin can now accept whatever shares are tendered with no minimum. More concerning to me is that the offer is scheduled to close, terminating ITEX shareholder withdrawal rights, three business days before Western Sizzlin must file its Form 10-K disclosing its operating results for the 2007 fiscal year. Thus, our shareholders are placed in the position of having to make an irrevocable decision shortly before the release of information that might be material."
The Western Sizzlin tender offer is currently scheduled to expire Wednesday, March 26, 2008, at 5:00 PM, New York time. ITEX shareholders who have tendered can withdraw tendered shares at any time until the offer expires, by delivering or faxing a notice of withdrawal to Western Sizzlin's exchange agent with specified information. If you have any questions, you can also call the ITEX investor relations contacts listed below.
Additional Information
ITEX has filed a Solicitation/Recommendation Statement on Schedule 14D-9 (the "Schedule 14D-9") and amendments thereto regarding Western Sizzlin Corporation's exchange offer, which sets forth the reasons for the recommendation of the ITEX Board and related information. The Schedule 14D-9 and other public filings made from time to time by the Company with the SEC are available without charge from the SEC's website at http://www.sec.gov/, or from ITEX's website at http://www.itex.com/.
About ITEX -- ITEX, The Membership Trading Community(SM), is a thriving community of member businesses buying and selling more than $270 million a year in ITEX dollar transactions. Member businesses increase sales through an exclusive distribution channel managed by franchisees, licensees and corporate-owned locations, by utilizing ITEX dollars to exchange goods and services. ITEX is powered by ITEX Payment Systems, the leading payment technology platform for processing cashless business transactions. ITEX is headquartered in Bellevue, WA.
This press release contains forward-looking statements that involve risks and uncertainties concerning our expected performance (as described without limitation in the quotations from current management in this release) and comments within the safe harbor provisions established under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of our future performance. We believe that these potential risks and uncertainties include, without limitation: the continuing development of successful marketing strategies for our concepts; our ability to increase revenues and sustain profitability; the availability of adequate working capital; our dependence both on key personnel and our franchise network; and the effect of changes in the overall economy and in technology. Statements in this release should be evaluated in light of these factors. These risk factors and other important factors that could affect our business and financial results are discussed in our periodic reports and filings with the Securities and Exchange Commission, including our Forms 10-KSB and Forms 10-QSB, which are available at http://www.sec.gov/., including under the caption, "Management's Discussion and Analysis of Financial Condition and Results of Operations." All information set forth in this release is as of March 25, 2008, and ITEX undertakes no duty to update this information.
For more information, please visit http://www.itex.com/
Contact:
Alan Zimmelman
ITEX Corporation
425.463.4017
alan@itex.com
Budd Zuckerman
Genesis Select
303-415-0200
bzuckerman@genesisselect.com
ITEX Corporation
CONTACT: Alan Zimmelman of ITEX Corporation, +1-425-463-4017, alan@itex.com; or Budd Zuckerman of Genesis Select, +1-303-415-0200, bzuckerman@genesisselect.com, for ITEX Corporation
Web site: http://www.itex.com/
Deep Down Ships $1.5 Million of Innovative Subsea Hardware
HOUSTON, March 25 /PRNewswire-FirstCall/ -- Deep Down, Inc. (BULLETIN BOARD: DPDW) announced today, in a continuing effort to create installation-friendly, solution-oriented products for its clients, that it has custom-engineered, produced, and shipped BS Latcher receivers and Messenger Wire Kits to mitigate the problem of marine growth in shallow subsea environments for umbilical systems in the Shell Perdido project. The entire project included more than $1.5 million in ROV-installable subsea hardware consisting of four BS Latchers with fluid-compensated subsea protective debris covers, nine subsea blind flanges, and 13 Messenger Wire Kits, including chain jacks and drifts.
The Messenger Wire Kit includes our standard fluid-compensated debris cover, which completely surrounds the BS Latcher Receiver. This unit is connected to a new, unique, high-strength, pre-tensioned messenger wire chain that is attached to a surface hang-off device, with an upper blind flange sealing off the I-tube and holding the chain under tension with a chain stop. The chain tension and extra slack chain is handled via a surface kit. This surface kit consists of a chain locker and a new double-acting chain jacking system which is mounted on the top of the I-tube hang off device. This enables the debris cover or subsea blind flange to be held under tension or lowered to the installation vessel in a continuous and controlled process. The Messenger Wire Kit also includes cylindrical drifts with internal anodes and port holes to provide circulation and optimum corrosion protection within the I-tube.
In order to protect I-tubes not yet equipped with the BS Latcher receivers, Deep Down has provided another new solution consisting of a subsea blind flange that resembles a hatch cover. This subsea blind flange mounts on the bottom of the I-tube flange and is connected to the messenger wire chain and surface kit. This system also has a hinging assembly, making it easy to install and recover the subsea blind flange offshore during the installation. This system will provide long-term protection for the I-tubes until a BS Latcher is installed at a later time and umbilicals are pulled in and hung off.
"Deep Down, Inc. is proud of its ability to innovate solutions for our clients. Continuing demands force us to make our products and services even better to make installations safer and more efficient than ever before. Every dollar spent onshore in engineering design can save two or more dollars offshore in installation procedures, and the safety benefits are immeasurable. This was an exciting project for us, and we look forward to continuing our support of the project with our core services during the installation and commissioning phases," says President and CEO, Ronald E. Smith.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.
The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems.
The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys.
The Company's strategy is to consolidate service providers to the offshore industry, as well as designers and manufacturers of subsea, surface, and offshore rig equipment used by major, independent, and foreign national oil and gas companies in deep-water exploration and production of oil and gas throughout the world. Deep Down's customers include BP Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess, Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For further company information, please visit http://www.deepdowninc.com/ and http://www.electrowaveusa.com/
Company information distributed through the Market Access Program is based upon information that Standard & Poor's considers to be reliable, but neither Standard & Poor's nor its affiliates warrant its completeness or accuracy, and it should not be relied upon as such. This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Deep Down urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
Deep Down, Inc.
CONTACT: Steven Haag, Investor Relations of Deep Down, Inc., office, +1-281-862-2201, fax, +1-281-862-2522, ir@deepdowninc.com
Web site: http://www.deepdowninc.com/ http://www.electrowaveusa.com/
Conolog Announces Results of Annual Shareholders' Meeting
SOMERVILLE, N.J., March 25 /PRNewswire-FirstCall/ -- Conolog Corporation an engineering and design company that provides digital signal processing solutions to global electric utilities, announced today the results of its Annual Meeting of Shareholders held on March 19, 2008.
Shareholders attending the meeting, and those voting by proxy, approved the following proposals:
1. The election of the following directors to serve until the next Annual
Meeting of Shareholders and until their respective successors have
been duly elected and qualified:
Robert S. Benou, Marc Benou, Louis S. Massad, Edward J. Rielly,
David M. Peison.
2. The Company's 2008 Incentive Stock Plan.
3. The selection of Bagell, Joseph, Levine & Co. as the Company's
independent auditors for the fiscal year ending July 31, 2008: and
4. To act on such other matters as may properly come before the meeting.
About Conolog Corporation
Conolog Corporation is a provider of digital signal processing and digital security solutions to electric utilities worldwide. The Company designs and manufactures electromagnetic products to the military and provides engineering and design services to a variety of industries, government organizations and public utilities nationwide. The Company's INIVEN division manufactures a line of digital signal processing systems, including transmitters, receivers and multiplexers.
Contact: Conolog Corporation: Robert S. Benou, Chairman, 908/722-8081 or rsbenou@conolog.com
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products introduced by competitors, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Conolog Corporation
CONTACT: Robert S. Benou, Chairman of Conolog Corporation, +1-908-722-8081, rsbenou@conolog.com
Web site: http://www.conolog.com/
PLAYSTATION(R)3, PSP(R)(PlayStation(R)Portable), and EA'S Burnout Paradise Star in Wyclef Jean's New Music Video, 'Fast Car'Live Action and In-Game Footage from Burnout Paradise Provide Unique Visual Canvas for New Video, Which Will Be Available on PLAYSTATION(R)Network
FOSTER CITY, Calif., March 25 /PRNewswire/ -- Sony Computer Entertainment America (SCEA) today announced that PLAYSTATION(R)3 (PS3(TM)) and PSP(R)(PlayStation(R)Portable) systems along with the blockbuster hit game title, Burnout(TM) Paradise, from Criterion Games, an Electronic Arts studio, have been integrated into "Fast Car," the new music video from Grammy-winning Sony BMG artist Wyclef Jean. In this unique integration, Jean and the video's other characters utilize the PlayStation platforms to drive the video's storyline, as they interact in a surreal world brought to life with footage from Burnout Paradise. The video will be available for download on PLAYSTATION(R)Store beginning on March 27 for a limited time.
"As an artist, Wyclef Jean is a great match for the PlayStation brand, and SCEA is excited about working with him on this music video because it showcases our platforms in an organic way that's relevant to our audience," said Peter Dille, senior vice president, marketing and PLAYSTATION(R)Network, SCEA. "We're also looking forward to giving our PLAYSTATION Network members the opportunity to download the video in high-definition, which expands the entertainment content offering on PLAYSTATION Store."
"EA has always been a pioneer in integrating our videogames into other forms of media," stated Steve Schnur, worldwide executive of music for Electronic Arts. "Sony BMG has been a terrific partner in that process, and Wyclef Jean has always been an artist who is truly excited about videogames. The result is a very cool, creative collaboration that has produced a groundbreaking music video."
"To see Clef's idea come to life in this innovative marriage of technology and music is a real treat," said Mark DiDia of Columbia Records.
"Fast Car," which features Paul Simon as a guest vocalist, is the second single from Jean's latest hit album, "Carnival Vol. II: Memoirs of an Immigrant." The "Fast Car" video picks up where Jean left off in the video for the chart-topping "Sweetest Girl." The story starts with the multi-platinum artist receiving a message on his PSP system, pointing him to his next mission. From there, Jean accesses his PS3 system to enter the open world racing of Burnout Paradise, which serves as the video's visual backdrop. Burnout Paradise is built to provide the ultimate in freedom and discovery online and offline, where players are able to create their own personal driving experience. PLAYSTATION(R)Eye also makes a cameo appearance in the video.
"When you're on tour, you have plenty of time, and every artist I know spends time on a tour bus with two things: PlayStation(R) and the recording studio," Jean said. "The PlayStation brand and Burnout Paradise fit perfectly with my vision for the 'Fast Car' music video. 'Fast Car' is like life -- the pace of life is moving so fast, where you can burn yourselves out at times. The concept was about taking a song with such meaning and combining it with technology, but still keeping the essence of what we're talking about and getting kids to listen to that message. A game like Burnout Paradise helps us get the attention of youngsters."
Wyclef Jean directed and wrote the concept for the "Fast Car" video with collaboration from Leopoldo Gout of Curious Films.
For a limited time beginning on March 27, PS3 owners will be able to download the video in high-definition from PLAYSTATION Store, and PSP owners will be able to download the video via a PC from http://store.playstation.com/. In addition to offering the "Fast Car" video, PLAYSTATION Store will also have special behind-the-scenes videos featuring an interview with Jean available for PS3 owners to download.
Burnout Paradise is now available worldwide and has been rated E10+ by the ESRB and 3+ by PEGI. For more information about Burnout Paradise, please visit http://burnout.ea.com/ or the EA press website at http://info.ea.com/. For more information on Wyclef Jean and Columbia Records, visit http://www.wyclef.com/ or http://www.columbiarecords.com/.
About Sony Computer Entertainment America Inc.
Sony Computer Entertainment America Inc. continues to redefine the entertainment lifestyle with its PlayStation(R) and PS one(R) game consoles, the PlayStation(R)2 computer entertainment system, the PSP(R) (PlayStation(R)Portable) handheld entertainment system, and the ground-breaking PLAYSTATION(R)3 (PS3(TM)) computer entertainment system.
Recognized as the undisputed industry leader, Sony Computer Entertainment America Inc. markets the PlayStation family of products and develops, publishes, markets, and distributes software for the PS one game console, the PlayStation 2 computer entertainment system, the PSP system and the PS3 system for the North American market. Based in Foster City, Calif., Sony Computer Entertainment America, Inc. serves as headquarters for all North American operations and is a wholly owned subsidiary of Sony Computer Entertainment Inc.
Visit us on the Web at http://www.playstation.com/.
"PlayStation", "PLAYSTATION", "PSP", and "PS one" are registered trademarks of Sony Computer Entertainment Inc. "PS3" is a trademark of Sony Computer Entertainment Inc.
EA and Burnout are trademarks or registered trademarks of Electronic Arts Inc. in the U.S. and/or other countries. All other trademarks are the property of their respective owners.
Sony Computer Entertainment America
CONTACT: Al de Leon, +1-650-655-7348, al_deleon@playstation.sony.com, for SCEA; or Jino Talens, +1-650-628-9111, jtalens@ea.com, for EA; or Yvette Noel-Schure, +1-212-833-4483, Yvette.Noel-Schure@sonybmg.com, for Wyclef Jean
Web site: http://www.playstation.com/ http://www.wyclef.com/ http://www.columbiarecords.com/ http://info.ea.com/ http://burnout.ea.com/ http://store.playstation.com/
Amid 'Graying' Work Force, Need for High-Performance Computing in Oil and Gas More Critical, Reports Microsoft SurveyCompute power drives productivity, decision-making; reduces drilling delays and project risk.
HOUSTON, March 25 /PRNewswire-FirstCall/ -- Faced with an aging work force and a critical need to increase productivity, the oil and gas industry reports that access to high-performance computing (HPC) capability is required now more than ever, according to a new survey released today by Microsoft Corp. at the Microsoft Global Energy Forum 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)
The Microsoft High-Performance Computing Oil and Gas Industry Survey 2008, conducted by Tulsa, Okla.-based Oil & Gas Journal Online Research Center, shows that although most of the industry's geoscientists and engineers have immediate access to the compute power they require, there is still significant room for improvement as computing needs grow more complex. In addition, a large number of respondents believe that more ready access to high-performance computing capability could increase production, enhance decision-making, reduce drilling delays and diminish project risk -- all critical aspects of the oil and gas supply chain.
"Last year, this research revealed that oil and gas high-performance computing experts realize the impact their work has on oil and gas production and their companies' success," said Craig Hodges, U.S. energy and chemicals industry solutions director at Microsoft. "This year, a greater percentage of experts surveyed understand the powerful positive impact high-performance computing can have on workers' productivity, their ability to make smart decisions and the industry's overall ability to find, produce, refine, and deliver oil and gas."
The online survey was conducted in February 2008 and includes responses from 212 qualified oil and gas industry experts at major companies worldwide. Significant findings include the following:
-- 89 percent believe the diminishing work force and necessity to increase
production makes the need for high-performance computing capabilities
more critical today than ever.
-- 89 percent report that more ready access to high-performance computing
capability could increase oil and gas production, up from 81 percent in
2007.
-- 47 percent lack the processing power on their desktop to complete
compute-intensive workloads in a timely manner.
-- 40 percent say that drilling is often delayed because of the time it
takes to perform the required computations.
-- 44 percent admit they sometimes make business decisions before
completing sufficient data analyses.
-- 61 percent report that having the capability to run additional tasks
and iterations would reduce project risk.
-- 41 percent of compute-intensive scientific applications running on a
cluster take from overnight to a week to run, respondents say, up from
25 percent last year.
-- 53 percent say their compute-intensive scientific applications require
four or more iterations to reduce uncertainty. At the same time,
26 percent say the optimal number of iterations to increase their
productivity is more than eight.
"We see these same trends and opportunities," said Robert Frost, technology manager of simulation development for Roxar ASA, a company that develops reservoir management and production optimization software. "Oil and gas professionals must have the tools needed to manage increasing detail and data complexity, quantify uncertainty, and improve physical modeling to keep production decisions on track. Users of our Tempest simulator are increasingly running compute-intensive parallel jobs on HPC clusters."
Continued hardware and software advances, such as more powerful, lower-cost processors and the upcoming launch of Windows HPC Server 2008, the successor to Windows Compute Cluster Server 2003, have made it easier for geoscientists and engineers in both upstream and downstream to install and use clusters and complete high-performance computing jobs. However, as noted in the survey results, the increase in data and computing complexity still poses a challenge for oil and gas companies. Those professionals require even greater access and speed with their high-performance computing resources to make up productivity losses driven by a rapidly retiring work force.
"This research shows a direct correlation between high-performance computing availability and engineers' and geoscientists' abilities to effectively complete their roles in finding, producing, processing and delivering oil and gas and petroleum products," said Robert J. Beck, manager of the Oil & Gas Journal Online Research Center, an organization that also closely watches and reports on all aspects of the industry's activities, including production, refining and construction. "With the level of risk that these industry professionals -- and the industry as a whole -- manage, having access to the right technology tools is critical today more than ever."
Geoscientists in oil and gas use high-performance computing to make better decisions regarding prospect generation, lower the probability of dry holes and speed up the time to first oil. In addition, engineers who rely on computer-aided engineering within drill and platform manufacturers, down-hole tool and drill bit manufacturers, refining and transportation, and the petroleum industry use high-performance computing to improve computational fluid dynamics, design and enhance their equipment, and process troubleshooting capabilities.
"These professionals overwhelmingly agree there is a need for the oil and gas industry to add compute power and continue developing high-performance computing capabilities," said Ali Ferling, worldwide oil and gas industry managing director at Microsoft. "Microsoft is committed to helping this and other industries discover new ways to improve their technical computing capabilities and time to insight with easier cluster management, enhanced collaboration, and common client and cluster development tools."
About the Microsoft High-Performance Computing Oil and Gas Industry Survey 2008
Oil & Gas Journal Online Research Center conducted the Microsoft High-Performance Computing Oil and Gas Industry Survey 2008 in February. More than 200 qualified oil and gas industry experts worldwide, with evenly weighted experience levels from one to 25-plus years, responded to the survey. More than half of the respondents spend at least 25 percent of their time on high-performance computing functions. The majority of survey respondents (69 percent) work for oil and gas companies, with 85 percent of those in super majors or international or national oil companies. The remainder work for consulting or construction/engineering firms, oil field service or equipment/supply companies, drilling contractors or academia. While most respondents work in upstream, some represent downstream.
Seventy-five percent of respondents are direct users of high-performance computing technology. The rest are people who evaluate, recommend and authorize technical computing hardware and software purchases; technical support staffers; application managers; and developers. Full survey results are available at http://www.microsoft.com/oilandgas.
About Microsoft in Oil and Gas
Meeting the challenges of global energy supply and demand depends on integrated business processes, breakthrough innovations and solid business relationships. Together with its partners, Microsoft delivers technology solutions that help people in the oil and gas industry make better decisions faster. More information about Microsoft in the oil and gas industry can be found at http://www.microsoft.com/oilandgas.
About Microsoft
Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk photodesk@prnewswire.com
Microsoft Corp.
CONTACT: Carol Barreyre of Brooks & Associates Public Relations, +1-214-629-5157, carol@barreyre.com, for Microsoft Corp.; or Ted Ladd of Microsoft, +1-646-225-4722, tedladd@microsoft.com
Web site: http://www.microsoft.com/
Long-E International, Inc. Reports Fiscal 2007 Financial Results
SHENZHEN, China, March 25 /Xinhua-PRNewswire/ -- Long-E International, Inc. (Pink Sheets: LOGE), ("Long-E" or the Company"), a leading manufacturer of automotive electronic systems and components in China, announced today financial results for the fiscal year ended December 31, 2007.
Full Year 2007 Highlights
-- Total revenue increased 33.3% to $31.6 million
-- Gross profit increased 28.4% to $9.0 million
-- Operating income decreased 16.7% to $1.4 million
-- Net loss totaled $0.6 million, or $(0.02) per fully diluted share
-- Non-GAAP net income was $1.4 million, or $0.04 per fully diluted share
-- Completed private placement financing generating $5.4 million in gross
proceeds
Full Year 2007 Results
During the fiscal year ended December 31, 2007, total revenue increased 33.3% to $31.6 million from $23.7 million in 2006. This was primarily due to a significant increase of 50.7% in product sales, up to $29.4 million in 2007. The Company's two-way interactive car alarm system remained its top-selling product, accounting for 54% of total revenue in 2007 compared to 66% in 2006. Sales of other car alarm systems, the Company's tire pressure monitoring system ("TPMS"), and its parking sensor system accounted for 19%, 13%, and 14% of total sales, respectively. Sales to distributors for export totaled $6.8 million in 2007, or 23% of total sales, representing an increase of 240% from $2.0 million, or 10% of total sales a year ago. Revenue from assembling and reprocessing accounted for 6.9% of total revenue.
"We are delighted to see double-digit growth in our top line in 2007 and sales growth of higher margin products like our two-way interactive car alarm systems," said Mr. Shengfu Bu, chairman and chief executive officer of Long-E. "We continued to strengthen our domestic and overseas marketing network, particularly with Chinese OEMs/ODMs and the Chinese aftermarket. We have also adjusted our sales strategy to explore opportunities in new markets and enhanced relationships with our key clients."
Gross margin in 2007 was 28.4%, down from 29.5% a year earlier. This was due to a higher cost of goods sold in connection with changes in product offerings, most notably the expanded focus on the production and marketing of two-way interactive visual car alarm systems and TPMS, which also resulted in a $0.5 million write-down of inventory.
Operating expenses were $7.5 million in 2007, up 42.8% from $5.3 million in 2006. This increase was caused by higher general and administrative expenses and increased selling expenses in support of new business. General and administrative expenses increased 99.8%, primarily from increased administrative costs associated with becoming a public company, greater labor costs associated with the additional hiring of qualified staff and the introduction of new management software to improve the Company's competitive capacity. Research and development expenses totaled $0.4 million, compared with $0.6 million in 2006.
Operating income was $1.4 million, down 16.7% from $1.7 million in 2006. Operating margin was 4.5%, down from 7.2% in 2006.
In 2007, net loss was $0.6 million, or ($0.02) per fully diluted share, compared to net income of $0.9 million, or 0.04 per diluted share, a year earlier. Net loss includes the impact of $1.5 million in penalty expenses accrued due to a delay in effectiveness of the registration statement associated with the Company's private placement financing in December 2006. Adjusting net loss to exclude these penalty expenses and non-cash interest expenses associated with the Company's convertible promissory notes and warrants, non-GAAP net income was $1.4 million, or $0.04 per fully diluted share, relatively unchanged from non-GAAP net income of $1.4 million, or $0.07 per fully diluted share, in 2006. Diluted earnings per share reflect increase in weighted average shares outstanding of 10.5 million due to the Company's private placement financings in December 2006 and January 2007.
Financial Condition
As of December 31, 2007, Long-E International had $3.7 million in cash and cash equivalents. Working capital was $8.5 million, up from $3.5 million at December 31, 2006. Total current liabilities, including short-term borrowings, taxes payable and accounts payable was $8.0 million. Shareholders' equity stood at $11.4 million as compared to $4.7 million at December 31, 2006.
In January 2007, the Company completed a private placement financing of convertible promissory notes and warrants, generating $5.4 million in net proceeds. The Company utilized a portion of the proceeds to purchase plant and equipment and working capital requirements.
Business Outlook
In 2008, The Company plans to increase its ongoing investment in research and development, launch the commercial sales of its second generation TPMS and digital parking reverse sensor systems, continue to develop its marketing network, implement stricter and more efficient quality controls, and increase investment in its production management system. Management expects capital expenditures of approximately $15 million in 2008.
The Company foresees expansion in all product areas, however the largest area of growth in the short term is expected to be its TPMS products. The Company is currently working with Tianjin Automotive Research Institute to draft product standards for TPMS in China. In addition, Long-E has recently signed contracts with Hafei, Chery, and SGMW, further strengthening its customer base. With an expanding customer base as well as an increase in orders from existing clients, management expects total revenue growth of 35% to 45% in fiscal 2008.
"We are optimistic that market demand for TPMS will continue to grow with the increasing rate of private car ownership in China," said Mr. Bu. "We look forward to leveraging our technical expertise to provide customers with high quality products to ensure safer driving."
Use of Non-GAAP Financial Measures
GAAP results for the year ended December 31, 2007 and 2006 include non- cash financing charges related to the Company's convertible promissory notes and warrants and penalty expenses related to a delay in the effectiveness of the registration statement associated with its private placement financing in December 2006. To supplement the Company's condensed consolidated financial statements presented on a GAAP basis, the Company has provided non-GAAP financial information excluding the impact of these items in this release. The Company's management believes that this non-GAAP measure provides investors with a better understanding of how the results relate to the Company's historical performance. A reconciliation of adjustment to GAAP results appears in the table accompanying this press release. This additional non-GAAP information is not meant to be considered in isolation or as a substitute for GAAP financials. The non-GAAP financial information that the Company provides also may differ from the non-GAAP information provided by other companies.
About Long-E International, Inc.
Since its establishment in 2000, Long-E's operations have focused on the development, manufacture, marketing and servicing of automotive electronic systems and components, including alarm systems, tire pressure monitoring systems, and reverse sensor systems. Long-E distributes its products to automotive manufacturers and to the aftermarket through its wholesalers and retailers. The Company's customers include Dongfeng Citroen Automobile, Ltd., Fengshen Automobile, Ltd., Dengfeng Nissan, Dongfeng Liuqi, Dongfeng Liuzhou Automobile Co., Ltd., Hafei Automobile, Changfeng Automobile, Chery Automobile and Dongfeng Peugeot.
Forward-Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward- looking statements. These risk factors include changes in the laws of the PRC that may affect the Company's operations, the Company's ability to continue to develop and market new or updated products, The Company's ability to expand its presence in international markets, protection of the Company's intellectual property rights in China and in other international markets and other factors listed in the Company's 10K and other filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
FINANCIAL TABLES BELOW
Long-E International, Inc. and Subsidiaries
AUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
For The Years Ended December 31, 2007 and 2006
December 31, December 31,
2007 2006
Product Sales $ 29,389,508 $ 19,481,024
Assembling / Reprocessing Revenues 2,190,238 4,216,135
Total Revenues 31,579,746 23,697,159
Cost of Sales 22,610,851 16,705,371
Gross Profit 8,968,895 6,991,788
Operating Expenses
Selling expenses 3,561,588 2,461,603
General and administrative expenses 3,578,288 1,791,357
Research and development 404,808 578,789
Merger financing cost -- 114,760
Loss on disposal of assets -- 335,803
Total Operating Expenses 7,544,684 5,282,312
Income from Operations 1,424,211 1,709,476
Other Income (Expenses):
Government grant 21,263 --
Interest income 36,512 7,714
Interest expense (57,286) (97,318)
Amortization of discount on convertible
notes (490,692) (500,000)
Registration rights penalty (1,450,600) --
Gain on extinguishment of debt -- 40,991
Sundry income (expense) 68,317 (28,156)
Total Other Income (Expenses) (1,872,486) (576,769)
Income (Loss) before income taxes (448,275) 1,132,707
Provision for income taxes 194,594 274,235
Net Income (Loss) (642,869) 858,472
Foreign currency translation adjustment 778,377 172,074
Comprehensive Income $ 135,508 $ 1,030,546
Net earnings per share, basic $ (0.02) $ 0.04
Weighted average number of shares
outstanding, basic 31,259,714 20,748,984
Net earnings per share, diluted $ (0.02) $ 0.04
Weighted average number of shares
outstanding, diluted 31,259,714 20,804,933
Long-E International, Inc. and Subsidiaries
AUDITED CONSOLIDATED BALANCE SHEETS
At December 31, 2007 and 2006
December 31, December 31,
2007 2006
ASSETS:
Current Assets:
Cash and cash equivalents $ 3,715,010 $ 2,313,080
Trade Receivables, net 6,768,947 4,405,799
Short-term loans receivable 2,333,656 --
Inventories, net 2,763,930 2,118,373
Value-added taxes (VAT) refundable 22,370 55,340
Due from related parties 23,587 1,048
Prepaid expenses and other receivables 810,668 177,166
Total current assets 16,438,168 9,070,806
Plant and equipment, net 2,146,924 1,089,127
Land use right deposit 1,179,980 --
Intangibles, net 53,835 95,864
Total Assets $ 19,818,907 $ 10,255,797
LIABILITIES AND SHAREHOLDERS' EQUITY:
Current Liabilities:
Accounts payable-Trade $ 2,670,458 $ 1,965,098
Accrued liabilities and other payables 717,661 357,507
Short term loans 1,545,829 1,174,371
Current portion of bank loans payable 261,435 --
Registration rights penalty payable 323,600 --
Other taxes payable 1,212,896 995,376
Wages payable 810,274 570,215
Corporate income taxes payable 239,361 121,948
Due to related parties 175,718 393,267
Total current liabilities 7,957,232 5,577,782
Long-term Liabilities:
Bank loans payable 20,278 --
Convertible debt, net of debt discount
of $4,862,308 490,692 --
Convertible debt, issued for settlement
of liquidating damage, net of
debt discount of $1,127,000 -- --
Total Liabilities 8,468,202 5,577,782
Commitments and Contingencies
Shareholders' Equity:
Common stock, $.001 Par value;
50,000,000 shares authorized;
issued and outstanding 31,259,714 and
31,259,714 shares, respectively 31,260 31,260
Additional paid-in capital 8,623,111 2,066,869
Deferred warrant expense (19,060) --
Accumulated other comprehensive income 983,362 204,985
Statutory reserves 1,252,323 776,491
Retained earnings 479,709 1,598,410
Total Shareholders' Equity 11,350,705 4,678,015
Total Liabilities and Shareholders'
Equity $ 19,818,907 $ 10,255,797
Long-E International, Inc. and Subsidiaries
AUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
For The Years Ended December 31, 2007 and 2006
December 31, December 31,
2007 2006
Cash flows from operating activities
Net Income (loss) $ (642,869) $ 858,472
Adjustments to reconcile net income to
cash provided by (used in) operating
activities:
Depreciation and amortization 671,313 380,488
Loss on disposal of fixed asset -- 335,803
Amortization of debt discount 490,692 500,000
Amortization of CCG warrants 57,182 --
Gain on extinguishment of debts -- (40,991)
Registration rights penalty 1,450,600 --
Chang in operating assets and
liabilities:
(Increase) decrease in assets:
Due from related parties (173,277) 137,951
VAT tax recoverable 35,333 (21,314)
Trade Receivables, net (1,977,573) (1,362,862)
Short-term loans receivable (2,241,277) --
Deposit and other receivables (597,355) (177,166)
Inventories, net (479,590) (1,190,889)
(Decrease) increase in liabilities:
Accounts payable and accrued
liabilities 1,086,561 971,618
Other tax payable 142,933 995,376
Corporate income tax payable 104,683 39,769
Net cash provided by (used in)
operating activities (2,072,644) 1,426,255
Cash flows from investing activities:
Purchase of plant and equipment (1,562,486) (540,316)
Proceeds from disposal of fixed assets -- 251
Land use right deposit (1,133,270) --
Purchase of intangibles (5,840) (109,246)
Net cash used in investing activities (2,701,596) (649,311)
Cash flows from financing activities:
Proceeds from bank loans 1,633,117 --
Proceeds from loans from individuals 30,847 83,776
Repayment of bank loans (630,273) (376,913)
Repayment of short-term government
loans (102,823) --
Repayment of government loans (164,517) --
Repayment of loans from individuals (155,505) (404,309)
Proceeds from related party advances (14,975) 331,766
Issuance of convertible promissory
notes 5,353,000 500,000
Receipts of notes receivable -- 10,000
Common shares issued for cash -- 959,088
Net cash provided by financing
activities 5,948,871 1,103,408
Effect of exchange rate changes on
cash 227,299 23,291
Net increase in cash 1,401,930 1,903,643
Cash, beginning of year 2,313,080 409,437
Cash, end of year $ 3,715,010 $ 2,313,080
Supplemental disclosure information:
Interest expense paid $ 57,286 $ 97,318
Income taxes paid $ 194,594 $ 274,235
Non-cash financing and investing
activities:
Conversion of bridge loan to equity $ -- $ 500,000
Warrants issued for services $ 76,242 $ --
Issuance of convertible notes for
registration rights penalty $ 1,127,000 $ --
Long-E International, Inc. and Subsidiaries
RECONCILIATION OF NON-GAAP INCOME
For the Years Ended December 31,
2007 2006
Net Income Diluted EPS Net Income Diluted EPS
Adjusted amount $1,355,605 $0.04 $1,358,472 $0.07
Adjustments
Amortization of debt
discount 490,692 0.02 500,000 0.03
Amortization of warrants 57,182 0.00 -- --
Registration rights
penalty expense 1,450,600 0.04 -- --
Amount per consolidated
statement of operations $(642,869) $(0.02) $858,472 $0.04
For more information, please contact:
Long-E International
Shengfu Bu, CFO
Tel: +86-755-3396-5188
Email: jeff@long-e.com.cn
CCG Elite Investor Relations
Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
Long-E International, Inc.
CONTACT: Bu Shengfu, CEO of Long-E International, Inc., +86-755-3396- 5188, or jeff@long-e.com.cn Or Mr. Crocker Coulson, President of CCG Elite Investor Relations Inc., +1-646-213-1915, or crocker.coulson@ccgir.com, for Long-E International, Inc.
eMoney Advisor in Top Quartile of Retirement Income and Distribution Planning Software According to Independent Research FirmeMoney One of Three Top-Rated Software's According to Report
CONSHOHOCKEN, Pa., March 25 /PRNewswire/ -- eMoney Advisor, (http://www.emoneyadvisor.com/), a leading provider of comprehensive wealth and goal planning solutions for financial advisors, today announced that its 360 and 360Pro software was rated in the top quartile based on breadth of functionality and advanced technology by Celent in its Retirement Income and Distribution Planning report published February 2008 by Robert J. Ellis. eMoney's software was one of three rated in the top quartile among 15 overall services evaluated. The report scrutinized each based on level of advanced technology, breadth of functionality, customer base, and depth of client services.
According to the report, as many as 73 million baby boomers will be entering retirement over the next few years, which will put $19 trillion worth of assets into the financial arena. The report focuses on the importance of having retirement planning and distribution planning tools that support the financial advisors quest to guide clients through challenging retirement decisions.
"Our tools are built by advisors and for advisors. This gives us unique insights into what today's clients are really looking," explained Edmond Walters, Founder and CEO, eMoney Advisor. "We are delighted to be recognized by Celent as a top-tier retirement planning tool," he added.
The eMoney 360 and 360Pro software allows financial advisors to supply all-inclusive planning for both affluent and high net worth clients. In addition to the Retirement Income Planning Module, the software includes a dynamic interview process, full financial planning capabilities, Modular Needs Analysis now in 11 categories, Mandatory Spending vs. Guaranteed Income Analysis and Asset Allocation. Advisors can provide clients with all of this information online, on paper or directly to their PDAs and phones.
"One product the eMoney system handles exceptionally well is annuity ladders," Ellis said. "Annuities are visited early in the planning process as clients consider whether their sources of 'guaranteed income' are sufficient when compared to basic expenses."
eMoney's suite of tools are used by leading financial services firms around the country, including such well-known names as AIG Advisor Group, Asset Mark Investment Services, Commerce Bank, First Trust Bank, The Guardian Life Insurance Company of America, LPL Financial, MassMutual Financial Group, MetLife, Mercantile Bank, New York Life, National Life Group, Northern Trust, Principal Financial and Securian Financial Services, among others.
About eMoney Advisor
eMoney Advisor, (http://www.emoneyadvisor.com/) based in Conshohocken, Pennsylvania is a wholly-owned subsidiary of Commerce Bancorp . eMoney's suite of tools is an award-winning, web-based wealth-planning tool that offers an aggregated, comprehensive view of a client's financial portfolio, as well as features and functions that enable more complete planning and better servicing of a client's needs. With the suite of tools, advisors can proactively manage their client relationships by identifying strengths and weaknesses in asset allocation, keeping accounts up-to-date and monitoring significant changes in their clients' financial status.
eMoney Advisor
CONTACT: Suzanne Bergin of eMoney Advisor Inc., +1-484-947-5782, Fax: +1-610-684-1100, suzanneb@emoneyadvisor.com; or Joshua Reynolds of G.S. Schwartz & Co. Inc., +1-212-725-4500, Fax: +1-212-725-9188, jreynolds@schwartz.com, for eMoney Advisor
Web site: http://www.emoneyadvisor.com/
VUANCE Ltd. to Report Fourth Quarter 2007 Operating Results and Host Investor Conference Call
ROCKVILLE, Md., March 25 /PRNewswire-FirstCall/ -- VUANCE, Ltd. (Nasdaq and Euronext: VUNC), a leading provider of innovative Radio Frequency Verification Solutions, including active RFID, electronic access control, credentialing, accountability and incident management, will distribute a press release with its operating results for the fourth quarter of 2007 on Thursday, March 27, 2008, before the market opens.
The Company will host an investor conference call at 10:00 AM Eastern Daylight Time (EDT) (16:00 Israel Time) the same day (March 27, 2008). During the call, Mr. Eyal Tuchman, CEO, and Mr. Lior Maza, CFO, will discuss VUANCE's operating results for the fourth quarter and the fiscal year which ended on December 31, 2007.
To participate in the conference call, please call one of the following numbers five minutes before 10:00 AM EDT (16:00 Israel Time) on March 27, 2008:
In Israel: 03-9180609
In the US (toll free): 1-888-407-2553
In the UK (toll free): 0-800-917-9141
A replay of the teleconference will be available for a one-week period from 14:00 EDT (20:00 Israel Time) on March 27, 2008 until 13:00 (EDT) on April 03, 2008. To access the replay, please call one of the following numbers:
In Israel: 03- 9255946
In the US (toll free): 1-888-254-7270
In the UK (toll free): 0-800-917-1246
About VUANCE Ltd.
VUANCE Ltd. develops and markets state-of-the-art security solutions for viewing, tracking, locating, credentialing, and managing essential assets and personnel. VUANCE solutions encompass electronic access control, urban security, and critical situation management systems as well as long-range Active RFID for public safety, commercial, and government sectors. The Company's comprehensive range of products enables our business partners to offer their customers end-to-end solutions that can overcome the most difficult security challenges. Its Incident Response Management System (IRMS) is the industry's most comprehensive mobile credentialing and access control system, designed to meet the needs of Homeland Security and other public initiatives. VUANCE is serious about security.
VUANCE Ltd. is headquartered in Rockville, MD. Its common stock is listed on the NASDAQ Capital Market and on the Euronext Exchange under the symbol "VUNC". For more information, visit http://www.vuance.com/.
Safe Harbor
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded or followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. Forward-looking statements in this release also include statements about business and economic trends. Investors should also consider the areas of risk described under the heading "Forward Looking Statements" and those factors captioned as "Risk Factors" in the Company's periodic reports under the Securities Exchange Act of 1934, as amended, or in connection with any forward-looking statements that may be made by the Company.
The Company also disclaims any duty to comment upon or correct information that may be contained in reports published by the investment community.
Investor/Media Contact
Jerry Cahn, Ph.D., J.D.
Target 3 Communications
Tel: 646-827-0009
Fax: 646-827-9009
Jerry@target3.com
VUANCE, Ltd.
CONTACT: Jerry Cahn, Ph.D., J.D. of Target 3 Communications, +1-646-827-0009, or fax, +1-646-827-9009, Jerry@target3.com, for VUANCE Ltd.
Web site: http://www.vuance.com/
Audiopoint Provides Personalized News and Information Services to EarthLink's Service SubscribersPersonalized Voice Services allows customized access to News and Information using simple voice commands and any telephone
ROCKVILLE, Md., March 25 /PRNewswire/ -- Audiopoint, a speech applications company developing products for businesses that reach consumer markets, and EarthLink , one of the nation's leading Internet service providers (ISPs), today announced an agreement that will give EarthLink's subscribers the ability to define their own News and Information Services leveraging Audiopoint's latest product release and speech application service.
The popularity of EarthLink's Email By Phone has demonstrated that people want access to a wider range of information on the go. News and Information Services combines the existing functionality of Email By Phone with natural voice-enabled Web content. Popular content such as Local News, Weather and Stock Quotes, amongst other personalized services are now available from any telephone using simple voice commands.
"The demand is growing for powerful new communications services as a strategic way to enhance customer service and build a competitive edge," said Brian Lichorowic, CEO & President of Audiopoint. "At the center stage of these new services is Audiopoint's next-generation Personal Voice Portal. Using PVP, Earthlink customers will have a very real edge in the marketplace. Today's announcement furthers Audiopoint's goal of providing our customers with the most progressive speech applications on the market today."
The new service provides an expanded access solution by voice enabling web content for the individual subscriber. Information is retrieved by phone through a voice activated menu system. In its most generic sense a voice portal can be defined as "speech-enabled access to Web-based information." In other words, a voice portal provides telephone users with a natural language interface to access and retrieve Web content.
"Earthlink's Email by Phone with enhanced News and Information services will allow our subscribers to access customized content from any phone just as they can from browsing the Internet." said Craig Forman, EarthLinks' EVP & Chief Product Officer. "As part of our commitment to providing a positive Internet customer experience, the continuing partnership with Audiopoint allows us to provide our subscribers with the flexibility of anytime, anywhere access to all of their EarthLink services."
Additionally EarthLink's Email by Phone services will support those with impaired motor coordination, the blind or those with a general inability to use mobile web devices. Keypad interfaces are replaced with simple voice commands and the visual display is replaced with text-to-voice translation which reads the information to the user from any telephone connection without requiring any additional hardware.
Using a convenient online enrollment form, EarthLink subscribers may sign-up for this $4.95 per month service at http://www.earthlink.net/dialup/extras/ebp/. Audiopoint plans to offer additional service features including security via voice authentication later in the year.
Audiopoint and EarthLink foresee that subscribers will find this new service effective in supporting today's mobile lifestyle because it addresses their critical need to access information on demand.
About EarthLink
"EarthLink. We revolve around you(TM)." As the nation's next generation Internet service provider, Atlanta-based EarthLink has earned an award-winning reputation for outstanding customer service and its suite of online products and services. EarthLink offers what every user should expect from their Internet experience: high-quality connectivity, minimal online intrusions and customizable features. Whether it's dial-up, high-speed, voice, web hosting, wireless or "EarthLink Extras" like home networking or security, EarthLink connects people to the power and possibilities of the Internet. Learn more about EarthLink by calling (800) EARTHLINK or visiting EarthLink's Web site at http://www.earthlink.net/.
About Audiopoint
Audiopoint is a leading provider of innovative, voice services to consumer-oriented businesses. The company designs, develops and deploys large-scale Automatic Speech Recognition (ASR) software and services. Since the establishment of Audiopoint in 1998, the company's strategy has been built on continuous product innovation. Audiopoint developed and launched the industry's first voice portal in 1999 and is currently releasing its newly developed Personal Voice Portal (PVP) platform. Audiopoint is a privately held company based in Rockville, Maryland with office in Middleburg, Virginia and Atlanta, Georgia and can be reached at 866-545-1560 or http://www.audiopoint.net/.
Audiopoint
CONTACT: Tony Keller of SS|PR, +1-719-634-8279, tkeller@sspr.com, for Audiopoint
Web site: http://www.audiopoint.net/ http://www.earthlink.net/
Optimum Lightpath Receives New York State Public Service Commission Commendation for Excellence in Customer Service for Tenth Consecutive Year
JERICHO, N.Y., March 25 /PRNewswire/ -- Optimum Lightpath(SM), a division of Cablevision Systems Corporation , and an industry leader in providing advanced Ethernet-based data, Internet, voice, video transport solutions and managed services over its Intelligent Enterprise Network, today announced it has been awarded the New York State Public Service Commission (PSC) Commendation for Excellent Customer Service in 2007. Presented annually, the award recognizes telecom providers that consistently provide the highest levels of service and quality to customers in New York State. This marks the tenth consecutive year Optimum Lightpath has been so honored by the PSC, having been awarded the commendation annually since 1998 -- every year that the Company has been reviewed by the Commission.
"Optimum Lightpath is delighted to have received this latest recognition from New York State, which is a testament to our ongoing commitment to providing excellence in customer service while delivering innovative business technologies and services to mid and large-size businesses in the New York metropolitan area," said Dave Pistacchio, Executive Vice President and General Manager, Optimum Lightpath. "Our customers have come to expect not only the most advanced technology, but also the highest level of customer service in the industry. Our goal is to continue to exceed these expectations every day as we have done for the past ten years."
The annual commendation recognizes excellent customer service based on providers' performance relative to service quality standards set forth by the PSC. The commendations are based on two metrics: The Customer Trouble Report Rates (CTRR) and the PSC Complaint Rate, or the number of complaints received each year by the Commission per 1,000 access lines.
The PSC award is one of several industry recognitions received by Optimum Lightpath during the past year. In January, the Company was named 2008 Frost & Sullivan North American Ethernet Service Emerging Company of the Year. In 2007, Optimum Lightpath was named Heavy Reading's North American Ethernet Service Provider of the Year for Regional Innovation and named Best North American Regional Service Provider of the Year by the Metro Ethernet Forum (MEF).
Optimum Lightpath's carrier Ethernet service is helping to increase productivity, streamline operations and lower telecommunications costs for enterprise customers across the New York metropolitan area, resulting in high customer satisfaction, specifically among financial institutions and major corporations using its services.
Businesses interested in learning more about Optimum Lightpath's Metro Ethernet services can visit http://www.optimumlightpath.com/ or call 1-877-LIGHTPATH.
About Optimum Lightpath
Optimum Lightpath, a division of Cablevision Systems Corporation , and an industry leader in providing advanced data, Internet, voice, video transport solutions and managed services over its Intelligent Enterprise Network, uses the power of its reliable and resilient fully fiber optic network to deliver these solutions to businesses throughout the New York metropolitan area. Since its formation almost 20 years ago, Optimum Lightpath has built an advanced fiber-to-the-business-premises network extending more than 2,750 route miles throughout the tri-state area with more than 2,500 fiber lit buildings. As a result of owning and maintaining this state-of-the- art network, Optimum Lightpath is able to reliably provide scalable, high- capacity IP-based Metro Ethernet services that support high bandwidth data, Internet, voice and video applications that dramatically improve the enterprise customer's quality of experience. Optimum Lightpath was one of the first service providers in the world and the first North American MSO to earn Carrier Ethernet certification from the MEF. For more information, visit http://www.optimumlightpath.com/.
About Cablevision
Cablevision Systems Corporation is one of the nation's leading entertainment and telecommunications companies. Its cable television operations serve more than 3 million households in the New York metropolitan area. The company's advanced telecommunications offerings include its iO TV(SM) digital television, Optimum Online(R) high-speed Internet, Optimum Voice(R) digital voice-over-cable, and its Optimum Lightpath integrated business communications services. Cablevision's Rainbow Media Holdings LLC operates several successful programming businesses, including AMC, IFC, WE tv and other national and regional networks. In addition to its telecommunications and programming businesses, Cablevision owns Madison Square Garden and its sports teams, the New York Knicks, Rangers and Liberty. The company also operates New York's famed Radio City Music Hall, and owns and operates Clearview Cinemas.
Media Contacts:
Nick Rae
Optimum Lightpath
516-803-1172
nrae@optimumlightpath.com
Jennifer Moritz
Zer0 to 5ive for Optimum Lightpath
917-748-4006
jmoritz@0to5.com
Jim Maiella
Cablevision
516-803-3947
jmaiella@cablevision.com
Optimum Lightpath
CONTACT: Nick Rae of Optimum Lightpath, +1-516-803-1172, nrae@optimumlightpath.com; or Jennifer Moritz of Zer0 to 5ive for Optimum Lightpath, +1-917-748-4006, jmoritz@0to5.com; or Jim Maiella of Cablevision, +1-516-803-3947, jmaiella@cablevision.com
Web site: http://www.optimumlightpath.com/
Ingram Micro to Release First Quarter 2008 Results on April 24
SANTA ANA, Calif., March 25 /PRNewswire-FirstCall/ -- Ingram Micro Inc. will release first quarter financial results, which will end on March 29, 2008, after the market closes on Thursday, April 24, 2008. A conference call with executive management will be held at 5 p.m. ET (2 p.m. PT) on that day.
Who: Ingram Micro Inc. Executive Management
What: First quarter 2008 results - conference call and presentation slides
When: Thursday, April 24, at 5 p.m. ET (2 p.m. PT)
How: Visit the company's Web site at http://www.ingrammicro.com/ (Investor Relations section) or call (888) 455-0750 (toll-free) or (210) 839-8501 (outside the United States or Canada). The call password is "Ingram Micro." Accompanying presentation slides also will be available at http://www.ingrammicro.com/ (Investor Relations section).
The conference call will be recorded and available after 7 p.m. ET on Thursday, April 24, for approximately one week. You may listen to the recording by calling (800) 678-3180. If you are outside the United States or Canada, call (402) 220-3063. An audio file of the conference call and the presentation slides also will be available on the Investor Relations Overview page of the Ingram Micro Web site located at http://www.ingrammicro.com/ for approximately one week.
About Ingram Micro Inc.
As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics services, technical support, financial services, and product aggregation and distribution. The company serves more than 150 countries and is the only global IT distributor with operations in Asia. Visit http://www.ingrammicro.com/.
(C)2008 Ingram Micro Inc. All rights reserved. Ingram Micro and the registered Ingram Micro logo are trademarks used under license by Ingram Micro Inc.
Ingram Micro Inc.
CONTACT: Investors, Ria Marie Carlson, +1-714-382-4400, ria.carlson@ingrammicro.com, or Kay Leyba, +1-714-382-4175, kay.leyba@ingrammicro.com, or Media, Marie Connell, +1-714-382-2009, marie.connell@ingrammicro.com, or Rekha Parthasarathy, +1-714-382-1319, rekha@ingrammicro.com, all of Ingram Micro Inc.
Web site: http://www.ingrammicro.com/
Venable Selects Anacomp's CaseLogistix for Streamlined Litigation SupportAmLaw 100 Firm Chooses CaseLogistix Due to System's Scalability and Customization Capabilities
SAN DIEGO, March 25 /PRNewswire-FirstCall/ -- Anacomp(R) Inc., a leading business process solutions company, today announced that Venable LLP, an AmLaw 100 law firm, has selected Anacomp to provide the firm with data processing, hosting and review services powered by Anacomp's CaseLogistix(R) litigation support software, which enables legal teams to quickly produce, organize and review digital evidence. Venable selected Anacomp after considering several competing products and determined that CaseLogistix's superior scalability and customization capabilities put the solution far ahead of others in the market.
"We chose CaseLogistix due to its superior architecture and the fact that we have the choice to use it on the desktop, on the web or even have our information hosted on Anacomp's secure servers. In addition, CaseLogistix's scalability was a major factor for us and we are confident that the software will meet our needs as our firm continues to grow," said Donna Anderson, Venable's Manager of Practice Technologies. "With CaseLogistix, we will be able to greatly accelerate the litigation review process and provide our attorneys with the latest in litigation support software solutions. Besides gaining improved access to case information, by using CaseLogistix, we should be able better serve the needs of our clients."
One of The American Lawyer's top 100 law firms, Venable has lawyers practicing in all areas of corporate and business law, complex litigation, intellectual property and government affairs. Venable serves corporate, institutional, nonprofit and individual clients throughout the U.S. and around the world from its headquarters in Washington, D.C. and offices in California, Delaware, Maryland, New York and Virginia. Founded more than a century ago, Venable has enjoyed a long history of steady growth, quality service and sound management. Venable prides itself on being attuned to its clients' business objectives, sensitive to their culture and structured to deliver true value.
"We are extremely pleased to be working with such a prestigious law firm and are confident that CaseLogistix will augment the firm's practice," said Tom Ullman, Anacomp's Senior Vice President of US Sales. "We are working with an increasing number AmLaw 100 firms who have found that by leveraging CaseLogistix, they are able to streamline operations, reduce costs, and create a competitive advantage by utilizing best-of-breed technologies to manage increasing litigation document volumes and complex litigation processes."
CaseLogistix allows legal teams to quickly review and produce any amount of digital evidence using an interface similar to that of Microsoft(R) Outlook(R). Combined with Anacomp's docHarbor document management platform, business process management services, and secure high-speed scanning and conversion services, CaseLogistix provides law firms and corporate legal departments with one-stop access to one of the broadest litigation management solutions in the legal industry.
About Anacomp With 40 years of experience and a passionate commitment to client services, Anacomp partners with its customers to help them realize the full potential of their business processes at the lowest total cost of ownership. Possessing one of the world's largest document repositories as well as a large, independent field services organization, Anacomp's offerings serve hundreds of original equipment manufacturing (OEM) partners and thousands of end users in insurance, financial services, government, legal, and other markets. Anacomp is headquartered in San Diego, with international headquarters in Wokingham, UK. For more information, visit http://www.anacomp.com/ or call (800) 364-9870.
Anacomp and CaseLogistix are registered trademarks of Anacomp, Inc. All other trademarks or registered trademarks are the property of their respective owners.
Anacomp Inc.
CONTACT: Media, Rob Jensen, Senior Director of Marketing of Anacomp Inc., +1-858-716-3549, rob.jensen@anacomp.com
Web site: http://www.anacomp.com/
TV Choice and Competition Near for Residents of Roslyn Harbor and Wappinger, N.Y.Municipalities Approve Video Franchises for Verizon; Company Passes Century Mark for Approved Franchises in State
ROSLYN HARBOR and WAPPINGER, N.Y., March 25 /PRNewswire/ -- Residents of Roslyn Harbor on Long Island and the Town of Wappinger in Dutchess County are a major step closer to having a real choice for their cable television service, thanks to newly approved agreements authorizing Verizon to offer its FiOS TV service, delivered over the most advanced fiber-optic network straight to customers' homes.
The Roslyn Harbor Board of Trustees granted a video franchise to Verizon March 19, while Wappinger's Board of Trustees approved a franchise Monday night (March 24), paving the way for video choice in the communities. This vote brings to 102 the total number of New York communities that have approved video franchises for Verizon.
"This is great news for residents of both these areas, who now will have a new choice for their video entertainment," said Monica Azare, Verizon senior vice president for New York and Connecticut. "Consumers here will be able to choose their cable provider as easily as they choose their phone company. Competition like this drives innovation and value, and puts the consumer in control."
As with all local franchise approvals in New York, the agreements between Verizon and Roslyn Harbor and Wappinger are subject to review by the New York State Public Service Commission.
Verizon's FiOS TV is a formidable competitor to cable and satellite, offering a broad collection of all-digital programming, 31 high-definition (HD) channels in the New York market and access to more than 10,000 on-demand titles, 60 percent of which are free.
Verizon's fiber network delivers amazingly sharp pictures and sound, and has the capacity to transmit a wide array of high-definition programming that is so clear and intense it seems to leap from the TV screen. In addition to FiOS TV, Verizon's fiber network also delivers Internet download speeds of up to 50 Mbps (megabits per second) and upload speeds of up to 20 Mbps, as well as high-quality voice service.*
Roslyn Harbor and Wappinger join a growing list of New York communities that are paving the way for competition and choice in the television market. In addition to the two most recent communities, Verizon has been granted video franchises on Long Island in the villages of Massapequa Park, Cedarhurst, Laurel Hollow, Lynbrook, Mineola, East Hills, East Rockaway, Farmingdale, Valley Stream, Freeport, Williston Park, New Hyde Park, Sands Point, Bayville, Old Field, Floral Park, South Floral Park, Garden City, Nissequogue, Poquott, East Williston, Head of the Harbor, Mill Neck, Stewart Manor, Centre Island, Malverne, Huntington Bay, The Branch, Oyster Bay Cove, Flower Hill, Great Neck, Great Neck Estates, Great Neck Plaza, Kensington, Kings Point, Lake Success, Munsey Park, North Hills, Plandome, Plandome Heights, Plandome Manor, Russell Gardens, Saddle Rock, Thomaston, Bellerose and Lloyd Harbor; and in the towns of North Hempstead, Huntington, Smithtown, Hempstead, Oyster Bay and Islip.
Verizon also has video franchises in the Orange County town of Newburgh; in the Rockland County communities of Nyack, South Nyack, Upper Nyack, Grandview-on-Hudson, Clarkstown, Orangetown, Piermont, Airmont, the town of Haverstraw, West Haverstraw, Chestnut Ridge, Spring Valley, the village of Haverstraw, Suffern and Hillburn; and in the Westchester County communities of Ardsley, Dobbs Ferry, Tarrytown, Irvington, the Town of Greenburgh, Eastchester, Mount Kisco, Elmsford, Port Chester, Tuckahoe, White Plains, Rye Brook, North Castle, Mount Vernon, Mount Pleasant, Yonkers, Scarsdale, Bronxville, New Rochelle, Cortlandt, Peekskill, Buchanan, Rye, Larchmont, the village of Mamaroneck, the town of Mamaroneck, Pelham Manor, Sleepy Hollow, Briarcliff Manor, the town of Ossining and the village of Ossining.
* NOTE: actual (throughput) speeds will vary.
Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving nearly 66 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of nearly 235,000 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
Verizon
CONTACT: John Bonomo of Verizon, +1-212-321-8033, john.j.bonomo@verizon.com
Web site: http://www.verizon.com/
Company News On-Call: http://www.prnewswire.com/comp/094251.html
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