Companies news of 2008-04-17 (page 1)
Consumer Interest High for 'Green' Electronics; Celebrating Earth Day 2008 Circuit City...
Renaissance Learning, Inc. Declares Quarterly Cash Dividend
Identity Systems to be Acquired by Informatica
Amdocs Limited Reports Strong Revenue GrowthAmdocs Reports Record Quarterly Revenue of...
SAIC's Dr. Katherine L. Morse Receives IEEE Computer Society Award for Leadership in...
Xerox Extends Information Technology Services Contract with EDS
Advanced Energy to Report First Quarter 2008 Financial Results
Actions Semiconductor to Report First Quarter 2008 Financial Results on April 28, 2008
Informatica to Acquire Identity SystemsAdvances data quality leadership with best-in-class...
Informatica Reports Record First Quarter ResultsAchieves Revenue Growth of 19 Percent
Dynamics Research Corporation Announces First Quarter 2008 Conference Call
Ascend Acquisition Corp. Announces Record Date
LodgeNet Appoints John E. Haire, Former Time Warner Executive, to Board of Directors
CDG Investments Inc. Rejects Reverse Merger Proposal from Chronic Car Audio Inc.
Worcester, Massachusetts Residents and Assumption College Faculty and Students to Benefit...
Diebold Announces Release Date for 2008 First Quarter Preliminary Revenue Estimates
Magic Software Reports that the Tel Aviv Labor Court has Denied an Ex Parte Request for...
Stoneridge, Inc. to Broadcast Its First-Quarter 2008 Conference Call on the Web
Adaptec Series 5 Unified Serial Raid Controllers Receive VMware CertificationAppLabs...
Live TV Debuts on Verizon Wireless Cell Phones in San Diego Thanks to Qualcomm Subsidiary...
Ron Peterson Joins Swapstream as Director, North America
CTG Announces 2008 First Quarter Conference Call and Webcast Information
Verizon Wireless Makes it Easy for New Yorkers to Make Everyday Earth DayPartners with...
012 Smile.Communications Ltd Announces That it has Been Notified of a Proposed Class...
RDM announces RDM SYNERGY II all in one payment terminal
Cimatron Brings Mold Making Solutions That Enable Faster Delivery to MoldMaking Expo...
Consumers in 73 More Massachusetts Communities Now Can Get Verizon's Fastest DSL-Based...
LanOptics Schedules First Quarter 2008 Results Release and Conference Call for Monday, May...
Nanophase Technologies Announces First Quarter 2008 Earnings Release and Conference Call...
Consumer Interest High for 'Green' Electronics; Celebrating Earth Day 2008 Circuit City Makes it Simple to Shop for Environmentally-Friendly Products
RICHMOND, Va., April 17 /PRNewswire-FirstCall/ -- Unveiling new national survey results that show high public interest in energy efficient electronics, retailer Circuit City has launched a new Web resource to help consumers adopt "green" strategies.
The new online tools can be found at http://www.circuitcity.com/green and make it easy for consumers to research and shop for products that have earned ENERGY STAR designation from the U.S. Environmental Protection Agency. The site also offers tips for recycling electronics, saving energy, and spotlights Circuit City's popular trade-in program, which allows consumers to turn in old electronics in exchange for Circuit City gift cards.
Trading-in old electronics was the top choice among more than 8,000 men and women who responded to a nationwide survey commissioned by Circuit City. Asked how they prefer to deal with old or obsolete electronics,
-- 35 percent said trade-in for gift cards to buy new electronics
-- 29 percent said donate to charity
-- 28 percent said recycle
-- 4 percent said store old gear in the garage or attic
-- 2 percent chose landfill
The survey also indicates consumers are keenly interested in electronics that use less power. Ninety percent said energy efficiency is a somewhat or very important consideration in their decision-making process when shopping for electronics. Energy efficiency is a higher priority for women; 47 percent called it a "very important" factor, versus 34 percent of men.
The survey was conducted by independent research firm Decision Analyst of Arlington, Texas and has a margin of error of plus or minus two percentage points.
About Circuit City Stores, Inc.
Circuit City Stores, Inc. is a leading specialty retailer of consumer electronics and related services. The domestic segment operates through 685 Superstores and 11 other locations in 158 U.S. markets. The international segment operates through approximately 800 retail stores and dealer outlets in Canada. Circuit City also operates Web sites at http://www.circuitcity.com/, http://www.thesource.ca/ and http://www.firedog.com/.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010709/CCLOGO )
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Circuit City Stores, Inc.
CONTACT: Jackie Foreman of Circuit City Stores, Inc., +1-804-486-8298
Web site: http://www.circuitcity.com/
Renaissance Learning, Inc. Declares Quarterly Cash Dividend
WISCONSIN RAPIDS, Wis., April 17 /PRNewswire-FirstCall/ -- Renaissance Learning(TM), Inc., , a leading provider of technology to support personalized practice, differentiated instruction, and progress monitoring in reading, math, and writing for pre-K-12 schools and districts, announced that its Board of Directors declared a quarterly cash dividend of $.07 per share, payable June 2, 2008 to shareholders of record as of May 9, 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001108/RENAISSANCELOGO)
Renaissance Learning, Inc.
Renaissance Learning, Inc. is the world's leading provider of computer-based assessment technology for pre-K-12 schools. Adopted by more than 74,000 North American schools, Renaissance Learning's tools provide daily formative assessment and periodic progress-monitoring technology to enhance core curriculum, support differentiated instruction, and personalize practice in reading, writing and math. Renaissance Learning products help educators make the practice component of their existing curriculum more effective by providing tools to personalize practice and easily manage the daily activities for students of all levels. As a result, teachers using Renaissance Learning products accelerate learning, get more satisfaction from teaching, and help students achieve higher test scores on state and national tests. Renaissance Learning has seven U.S. locations and subsidiaries in Canada, India, and the United Kingdom.
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Renaissance Learning, Inc.
CONTACT: Susan Sutherland of Renaissance Learning, Inc., 1-877-988-8048, fax, +1-715-424-3414, pr@renlearn.com
Web site: http://www.renlearn.com/
Identity Systems to be Acquired by Informatica
ESPOO, Finland and REDWOOD CITY, California, April 17
/PRNewswire-FirstCall/ -- Nokia and Informatica have signed an agreement for Informatica to acquire Identity Systems, headquartered in Greenwich, CT. Identity Systems became a subsidiary of Nokia in February 2006 as part of Nokia's acquisition of Intellisync. Informatica will acquire all of the capital stock of Identity Systems in a cash transaction valued at approximately USD 85 million.
Identity Systems is a global leader in enterprise software development for identity resolution, providing fast, highly accurate and scalable solutions to profile, cleanse, group, match and consolidate data within computer systems and network databases.
"After thorough consideration Nokia decided that Identity Systems' business has a much bigger potential as part of Informatica since identity resolution is a key part of many data quality and data integration initiatives," said Tom Furlong, SVP, Services & Software, Nokia. "With this transaction, Identity Systems' strong and committed team has the opportunity to expand and grow their already successful business and technology. We see this as a natural evolution to Identity Systems as they have been operating as a very independent business within Nokia."
"We are excited and confident that our innovative solutions, strong talent pool, solid partner ecosystem and global customer base will add to Informatica's existing success in the data quality market. We are pleased and look forward to being part of the leading global independent data integration company," said Sanjay Rao, General Manager of Identity Systems.
"The combination of Identity Systems and Informatica will offer the most advanced data quality products," said Sohaib Abbasi, chairman and CEO, Informatica. "This combination advances our leadership in three ways. First, we will offer our customers additional innovative capabilities for identity search and resolution. Second, it extends our data quality products with differentiated cross-language identity matching capabilities. And third, our customers will benefit from the near-universal access of our leading data integration platform to integrate all their data including identity data. Together, we will further enable organizations to gain a competitive advantage in today's global information economy by empowering them to access, integrate and trust all their information assets."
The transaction is expected to close by the end of May subject to customary conditions, including all required employee consultations.
About Nokia
Nokia is the world leader in mobility, driving the transformation and growth of the converging Internet and communications industries. We make a wide range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Developing and growing our offering of consumer Internet services, as well as our enterprise solutions and software, is a key area of focus. We also provide equipment, solutions and services for communications networks through Nokia Siemens Networks.
About Informatica
Informatica is a leading provider of enterprise data integration software and services. With Informatica, organizations can gain greater business value by integrating all their information assets from across the enterprise. More than 3,000 companies worldwide rely on Informatica to reduce the cost and expedite the time to address data integration needs of any complexity and scale. For more information, call +1-650-385-5000, or visit http://www.informatica.com/.
It should be noted that certain statements herein which are not historical facts, including, without limitation, those regarding: A) the timing of product, services and solution deliveries; B) our ability to develop, implement and commercialize new products, services, solutions and technologies; C) expectations regarding market growth, developments and structural changes; D) expectations regarding our mobile device volume growth, market share, prices and margins; E) expectations and targets for our results of operations; F) the outcome of pending and threatened litigation; G) expectations regarding the successful completion of contemplated acquisitions on a timely basis and our ability to achieve the set targets upon the completion of such acquisitions; and H) statements preceded by "believe," "expect," "anticipate," "foresee," "target," "estimate," "designed," "plans," "will" or similar expressions are forward-looking statements. These statements are based on management's best assumptions and beliefs in light of the information currently available to it. Because they involve risks and uncertainties, actual results may differ materially from the results that we currently expect. Factors that could cause these differences include, but are not limited to: 1) competitiveness of our product, service and solutions portfolio; 2) the extent of the growth of the mobile communications industry and general economic conditions globally; 3) the growth and profitability of the new market segments that we target and our ability to successfully develop or acquire and market products, services and solutions in those segments; 4) our ability to successfully manage costs; 5) the intensity of competition in the mobile communications industry and our ability to maintain or improve our market position or respond successfully to changes in the competitive landscape; 6) the impact of changes in technology and our ability to develop or otherwise acquire complex technologies as required by the market, with full rights needed to use; 7) timely and successful commercialization of complex technologies as new advanced products, services and solutions; 8) our ability to protect the complex technologies, which we or others develop or that we license, from claims that we have infringed third parties' intellectual property rights, as well as our unrestricted use on commercially acceptable terms of certain technologies in our products, services and solution offerings; 9) our ability to protect numerous Nokia and Nokia Siemens Networks patented, standardized or proprietary technologies from third-party infringement or actions to invalidate the intellectual property rights of these technologies; 10) Nokia Siemens Networks' ability to achieve the expected benefits and synergies from its formation to the extent and within the time period anticipated and to successfully integrate its operations, personnel and supporting activities; 11) whether, as a result of investigations into alleged violations of law by some current or former employees of Siemens AG ("Siemens"), government authorities or others take further actions against Siemens and/or its employees that may involve and affect the carrier-related assets and employees transferred by Siemens to Nokia Siemens Networks, or there may be undetected additional violations that may have occurred prior to the transfer, or ongoing violations that may have occurred after the transfer, of such assets and employees that could result in additional actions by government authorities; 12) any impairment of Nokia Siemens Networks customer relationships resulting from the ongoing government investigations involving the Siemens carrier-related operations transferred to Nokia Siemens Networks; 13) occurrence of any actual or even alleged defects or other quality issues in our products, services and solutions; 14) our ability to manage efficiently our manufacturing and logistics, as well as to ensure the quality, safety, security and timely delivery of our products, services and solutions; 15) inventory management risks resulting from shifts in market demand; 16) our ability to source sufficient amounts of fully functional components and sub-assemblies without interruption and at acceptable prices; 17) any disruption to information technology systems and networks that our operations rely on; 18) developments under large, multi-year contracts or in relation to major customers; 19) economic or political turmoil in emerging market countries where we do business; 20) our success in collaboration arrangements relating to development of technologies or new products, services and solutions; 21) the success, financial condition and performance of our collaboration partners, suppliers and customers; 22) exchange rate fluctuations, including, in particular, fluctuations between the euro, which is our reporting currency, and the US dollar, the Chinese yuan, the UK pound sterling and the Japanese yen, as well as certain other currencies; 23) the management of our customer financing exposure; 24) allegations of possible health risks from electromagnetic fields generated by base stations and mobile devices and lawsuits related to them, regardless of merit; 25) unfavorable outcome of litigations; 26) our ability to recruit, retain and develop appropriately skilled employees; 27) the impact of changes in government policies, laws or regulations; and 28) our ability to effectively and smoothly implement our new organizational structure; as well as the risk factors specified on pages 10-25 of Nokia's annual report on Form 20-F for the year ended December 31, 2007 under "Item 3.D Risk Factors." Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Nokia does not undertake any obligation to update publicly or revise forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
http://www.nokia.com/
Nokia Corporation
CONTACT: Media Enquiries: Nokia, Communications, Tel. +358-7180-34900, E-mail: press.services@nokia.com; Nokia, Americas, Communications, Tel. +1-972-894-4573, Email: communication.corp@nokia.com; Industry Analysts only: Nokia Industry Analyst Relations, Industry.analyst@nokia.com; Informatica, Deborah Wiltshire, Informatica Corporation, +1-650-385-5360, mobile: +1-650-862-8186, dwiltshire@informatica.com
Amdocs Limited Reports Strong Revenue GrowthAmdocs Reports Record Quarterly Revenue of $774 Million, Exceeding GuidanceKey highlights:-- Second quarter revenue increased to $774 million, exceeding guidance of $757-$767 million-- Second quarter diluted non-GAAP EPS, excluding acquisition-related costs and equity-based compensation expense, net of related tax effects, increased to $0.58, in line with guidance of $0.57-$0.59 diluted EPS-- Diluted GAAP EPS of $0.46 for the quarter-- Free cash flow of $63 million for the quarter-- Third quarter fiscal 2008 guidance: Expected revenue of approximately $790-$805 million and diluted non-GAAP EPS of $0.59-$0.61, excluding acquisition-related costs and approximately $0.06-$0.07 per share of equity-based compensation expense, net of related tax effects. Diluted GAAP EPS is expected to be approximately $0.45-$0.48, without taking into account potential purchase price adjustments relating to the acquisition of Jacobs Rimell in April 2008-- Updated fiscal 2008 guidance: Expected revenue of approximately $3.09-$3.15 billion and diluted non-GAAP EPS of $2.31-$2.37, excluding acquisition-related costs and approximately $0.21-$0.24 per share of equity-based compensation expense, net of related tax effects. Diluted GAAP EPS is expected to be approximately $1.81-$1.90, without taking into account potential purchase price adjustments relating to the acquisition of Jacobs Rimell in April 2008
ST. LOUIS, Mo., April 17 /PRNewswire-FirstCall/ -- Amdocs Limited today reported that for the quarter ended March 31, 2008, revenue was $774.3 million, an increase of 9.6% from last year's second quarter. Net income on a non-GAAP basis was $126.6 million, or $0.58 per diluted share (excluding acquisition-related costs, which include amortization of purchased intangible assets, and excluding equity-based compensation expense, net of related tax effects, of $26.8 million), compared to non-GAAP net income of $114.5 million, or $0.52 per diluted share, in the second quarter of fiscal 2007 (excluding acquisition-related costs, which include amortization of purchased intangible assets, in-process research and development write-off and other, and excluding restructuring charges and equity-based compensation expense, net of related tax effects, of $27.3 million). The Company's GAAP net income was $99.9 million, or $0.46 per diluted share, compared to GAAP net income of $87.2 million, or $0.40 per diluted share, in the second quarter of fiscal 2007. Free cash flow for the quarter was $63.1 million, comprised of cash flow from operations of $97.3 million less $34.2 million in net capital expenditures and other.
"We are pleased to report that we have exceeded our plans for this quarter and for the first half of fiscal 2008," said Dov Baharav, chief executive officer of Amdocs Management Limited. "Our strong results are driven by an expansion of our managed services business and by expanding our implementations of mission-critical systems in both developed and emerging markets. We recognize that there is uncertainty in the market as economic conditions have become more challenging and we believe that our forecasts for the second half of this fiscal year take this into account. Our customers recognize that Amdocs systems including our new CES 7.5 offering can help them to increase revenue and reduce costs; the result for Amdocs is greater customer commitments and a strong pipeline of potential business. We continue to see demand for projects supporting new initiatives as well as from projects focused more on cost savings, including managed services opportunities, and we look forward to continued growth in the second half of fiscal 2008."
In the second quarter Amdocs had numerous wins across lines of business and geographies. The Company continued to show progress in the operational support systems (OSS) area by winning a strategic deal with a large North American service provider. In Europe, Amdocs signed an important CRM deal with a large wireless carrier to help them improve their customer experience. The Company had several wins with wireless carriers including a consulting engagement to help a service provider introduce new, innovative offerings. Amdocs won several new deals in emerging markets based on the Amdocs Compact Convergence Suite.
Amdocs is continuing to expand and strengthen its position in the broadband cable and satellite market with several wins and a recent acquisition. In addition to the wins noted above, a large broadband cable operator in North America has chosen Amdocs to provide self-service capabilities including an eBill presentment and payment solution. The Company also won service projects related to requirements scoping, which can be the initial phase of system transformation. Shortly after the end of the quarter, Amdocs announced the acquisition of Jacobs Rimell in order to expand its capabilities in OSS for broadband.
Financial Outlook
Amdocs expects that revenue for the third quarter of fiscal 2008 will be approximately $790-$805 million. Diluted earnings per share on a non-GAAP basis for the third quarter are expected to be $0.59-$0.61, excluding acquisition-related costs and approximately $0.06-$0.07 per share of equity-based compensation expense, net of related tax effects. Diluted GAAP EPS is expected to be approximately $0.45-$0.48, without taking into account potential purchase price adjustments relating to the acquisition of Jacobs Rimell in April 2008.
Updated fiscal 2008 guidance: Expected revenue of approximately $3.09-$3.15 billion and diluted non-GAAP EPS of $2.31-$2.37, excluding acquisition-related costs and approximately $0.21-$0.24 per share of equity-based compensation expense, net of related tax effects. Diluted GAAP EPS is expected to be approximately $1.81-$1.90, without taking into account potential purchase price adjustments relating to the acquisition of Jacobs Rimell in April 2008.
Amdocs will host a conference call on April 17, 2008 at 5 p.m. Eastern Time to discuss the Company's second quarter results. The call will be carried live on the Internet via http://www.investorcalendar.com/ and the Amdocs website, http://www.amdocs.com/.
Non-GAAP Financial Measures
This release includes non-GAAP diluted earnings per share and other non-GAAP financial measures, including free cash flow, non-GAAP cost of service, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP income taxes and non-GAAP net income. These non-GAAP measures exclude the following items:
-- amortization of purchased intangible assets;
-- in-process research and development write-off and other,
-- restructuring charges
-- equity-based compensation expense; and
-- tax effects related to the above.
These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Amdocs believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Amdocs' results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Amdocs' results of operations in conjunction with the corresponding GAAP measures.
Amdocs believes that the presentation of non-GAAP diluted earnings per share and other financial measures, including free cash flow, non-GAAP cost of service, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP income taxes and non-GAAP net income, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and results of operations as well as the net amount of cash generated by its business operations after taking into account capital spending required to maintain or expand the business.
For its internal budgeting process and in monitoring the results of the business, Amdocs' management uses financial statements that do not include amortization of purchased intangible assets, in-process research and development write-off and other, restructuring charges, equity-based compensation expense, and related tax effects. Amdocs' management also uses the foregoing non-GAAP financial measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Amdocs. In addition, Amdocs believes that significant groups of investors exclude these non-cash expenses in reviewing its results and those of its competitors, because the amounts of the expenses between companies can vary greatly depending on the assumptions used by an individual company in determining the amounts of the expenses.
Amdocs further believes that, where the adjustments used in calculating non-GAAP diluted earnings per share are based on specific, identified amounts that impact different line items in the Consolidated Statements of Income (including cost of service, research and development, selling, general and administrative, operating income, income taxes and net income), it is useful to investors to understand how these specific line items in the Consolidated Statements of Income are affected by these adjustments.
Please refer to the Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP tables below.
About Amdocs
Amdocs is the market leader in customer experience systems innovation, enabling world-leading service providers to deliver an integrated, innovative and the intentional customer experience(TM) -- at every point of service. Amdocs provides solutions that deliver customer experience excellence, combining the software, service and expertise to help its customers execute their strategies and achieve service, operational and financial excellence. A global company with revenue of $2.84 billion in fiscal 2007, Amdocs has more than 17,000 employees and serves customers in more than 50 countries around the world. For more information, visit Amdocs at http://www.amdocs.com/.
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs ability to grow in the business markets that it serves, Amdocs ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2007 filed on December 3, 2007 and on Form 6-K furnished on February 11, 2008.
AMDOCS LIMITED
Consolidated Statements of Income
(in thousands, except per share data)
Three months ended Six months ended
March 31, March 31,
---------------------- ------------------------
2008 2007 2008 2007
--------- --------- ----------- -----------
Revenue:
License $ 32,109 $ 37,526 $ 58,326 $ 69,270
Service 742,172 668,835 1,458,205 1,328,123
--------- --------- ----------- -----------
774,281 706,361 1,516,531 1,397,393
Operating expenses:
Cost of license 938 1,016 1,712 2,085
Cost of service 493,956 446,860 964,697 881,981
Research and
development 56,088 57,734 112,103 118,202
Selling, general
and administrative 98,666 91,280 196,331 180,450
Amortization of
purchased
intangible assets 21,753 18,912 43,506 36,610
Restructuring charges,
in-process research
and development and
other - 6,761 - 6,761
--------- --------- ----------- -----------
671,401 622,563 1,318,349 1,226,089
--------- --------- ----------- -----------
Operating income 102,880 83,798 198,182 171,304
Interest income and
other, net 8,822 10,899 17,638 22,638
--------- --------- ----------- -----------
Income before income
taxes 111,702 94,697 215,820 193,942
Income taxes 11,843 7,526 20,297 13,429
--------- --------- ----------- -----------
Net income $ 99,859 $ 87,171 $ 195,523 $ 180,513
========= ========= =========== ===========
Basic earnings per
share $ 0.48 $ 0.42 $ 0.94 $ 0.87
========= ========= =========== ===========
Diluted earnings
per share (1) $ 0.46 $ 0.40 $ 0.89 $ 0.82
========= ========= =========== ===========
Basic weighted average
number of shares
outstanding 206,759 207,293 207,437 206,867
========= ========= =========== ===========
Diluted weighted
average number of
shares outstanding 219,786 222,499 220,912 222,608
========= ========= =========== ===========
(1) To reflect the impact of assumed conversion of the convertible notes, $985 and $1,970, representing interest expense and amortization of issuance costs, were added back to net income for the three and six months ended March 31, 2008 and 2007, for the purpose of computing diluted earnings per share.
AMDOCS LIMITED
Selected Financial Metrics
(in thousands, except per share data)
Three months ended Six months ended
March 31, March 31,
--------------------- ------------------------
2008 2007 2008 2007
--------- ---------- ----------- -----------
Revenue $774,281 $706,361 $1,516,531 $1,397,393
Non-GAAP operating
income 138,046 121,437 269,317 241,966
Non-GAAP net income 126,647 114,471 249,937 232,587
Non-GAAP diluted
earnings per share (1) $ 0.58 $ 0.52 $ 1.14 $ 1.05
Diluted weighted average
number of shares
outstanding 219,786 222,499 220,912 222,608
(1) To reflect the impact of assumed conversion of the convertible notes, $985 and $1,970, representing interest expense and amortization of issuance costs, were added back to net income for the three and six months ended March 31, 2008 and 2007, for the purpose of computing diluted earnings per share.
AMDOCS LIMITED
Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP
(in thousands)
Three months ended
March 31, 2008
-----------------------------------------------------
Reconciliation items
----------------------------------
GAAP Amortization Equity based Tax Non-
of purchased compensation effect GAAP
intangible expense
assets
-----------------------------------------------------
Operating expenses:
Cost of license $ 938 $ - $ - $ - $ 938
Cost of service 493,956 - (5,431) - 488,525
Research and
development 56,088 - (1,146) - 54,942
Selling, general
and administrative 98,666 - (6,836) - 91,830
Amortization of
purchased
intangible assets 21,753 (21,753) - - -
-----------------------------------------------------
Total operating
expenses 671,401 (21,753) (13,413) - 636,235
-----------------------------------------------------
Operating income 102,880 21,753 13,413 - 138,046
-----------------------------------------------------
Income taxes 11,843 - - 8,378 20,221
-----------------------------------------------------
Net income $ 99,859 $ 21,753 $ 13,413 $ (8,378) $126,647
-----------------------------------------------------
Three months ended
March 31, 2007
-----------------------------------------------------------
Reconciliation items
----------------------------------------
Restructuring
charges
in-process
research
Amortization and
of develop- Equity
purchased ment based
intangible and compensation Tax Non-
GAAP assets other expense effect GAAP
-----------------------------------------------------------
Operating
expenses:
Cost of
license $ 1,016 $ - $ - $ - $ - $ 1,016
Cost of
service 446,860 - - (6,005) - 440,855
Research and
development 57,734 - - (1,587) - 56,147
Selling,
general and
administ-
rative 91,280 - - (4,374) - 86,906
Amortization
of purchased
intangible
assets 18,912 (18,912) - - - -
Restructuring
charges,
in-process
research and
development
and other 6,761 - (6,761) - - -
-------------------------------------------------------------
Total
operating
expenses 622,563 (18,912) (6,761) (11,966) - 584,924
-------------------------------------------------------------
Operating
income 83,798 18,912 6,761 11,966 - 121,437
-------------------------------------------------------------
Income taxes 7,526 - - - 10,339 17,865
-------------------------------------------------------------
Net income $ 87,171 $ 18,912 $ 6,761 $11,966 $(10,339) $114,471
-------------------------------------------------------------
AMDOCS LIMITED
Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP
(in thousands)
Six months ended
March 31, 2008
-----------------------------------------------------
Reconciliation items
----------------------------------
GAAP Amortization Equity based Tax Non-
of purchased compensation effect GAAP
intangible expense
assets
------------------------------------------------------
Operating expenses:
Cost of license $ 1,712 $ - $ - $ - $ 1,712
Cost of service 964,697 - (11,713) - 952,984
Research and
development 112,103 - (2,522) - 109,581
Selling, general
and
administrative 196,331 - (13,394) - 182,937
Amortization of
purchased
intangible assets 43,506 (43,506) - - -
-------------------------------------------------------
Total operating
expenses 1,318,349 (43,506) (27,629) - 1,247,214
-------------------------------------------------------
Operating income 198,182 43,506 27,629 - 269,317
-------------------------------------------------------
Income taxes 20,297 - - 16,721 37,018
-------------------------------------------------------
Net income $ 195,523 $ 43,506 $ 27,629 $(16,721) $ 249,937
-------------------------------------------------------
Six months ended
March 31, 2007
------------------------------------------------------------
Reconciliation items
---------------------------------------
Restructuring
charges
in-process
research
Amortization and
of develop- Equity
purchased ment based
intangible and compensation Tax Non-
GAAP assets other expense effect GAAP
-----------------------------------------------------------
Operating
expenses:
Cost of
license $ 2,085 $ - $ - $ - $ - $ 2,085
Cost of
service 881,981 - - (12,327) - 869,654
Research
and
development 118,202 - - (3,365) - 114,837
Selling,
general and
administ-
rative 180,450 - - (11,599) - 168,851
Amortization
of purchased
intangible
assets 36,610 (36,610) - - - -
Restructuring
charges,
in-process
research and
development
and other 6,761 - (6,761) - - -
------------------------------------------------------------
Total
operating
expenses 1,226,089 (36,610) (6,761) (27,291) - 1,155,427
------------------------------------------------------------
Operating
income 171,304 36,610 6,761 27,291 - 241,966
------------------------------------------------------------
Income taxes 13,429 - - - 18,588 32,017
------------------------------------------------------------
Net income $ 180,513 $36,610 $ 6,761 $27,291 $(18,588) $232,587
------------------------------------------------------------
AMDOCS LIMITED
Condensed Consolidated Balance Sheets
(in thousands)
As of
--------------------------------
March 31, September 30,
2008 2007
-------------- ----------------
ASSETS
Current assets
Cash, cash equivalents and short-term
interest-bearing investments $1,181,797 $1,179,280
Accounts receivable, net, including
unbilled of $41,300 and $43,870
respectively (*) 568,503 473,847
Deferred income taxes and taxes
receivable 108,959 117,623
Prepaid expenses and other current
assets 113,463 98,746
-------------- ----------------
Total current assets 1,972,722 1,869,496
Equipment, vehicles and leasehold
improvements, net 296,288 283,839
Goodwill and other intangible assets,
net 1,772,346 1,792,588
Other noncurrent assets (*) 464,047 399,427
-------------- ----------------
Total assets $4,505,403 $4,345,350
============== ================
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts payable and accruals $ 581,437 $ 592,937
Short-term portion of capital lease
obligations and other financing
arrangements 2,178 2,055
Deferred revenue (*) 209,226 174,526
Deferred income taxes and taxes payable 35,882 205,960
-------------- ----------------
Total current liabilities 828,723 975,478
0.50% Convertible notes 450,000 450,000
Noncurrent liabilities and other 502,986 319,629
Shareholders' equity 2,723,694 2,600,243
-------------- ----------------
Total liabilities and shareholders'
equity $4,505,403 $4,345,350
============== ================
(*) Certain amounts in prior period financial statements have been reclassified to conform to the current period presentation.
Amdocs Limited
CONTACT: Thomas G. O'Brien, Treasurer and Vice President of Investor Relations of Amdocs Limited, +1-314-212-8328, dox_info@amdocs.com
Web site: http://www.amdocs.com/ http://www.investorcalendar.com/
SAIC's Dr. Katherine L. Morse Receives IEEE Computer Society Award for Leadership in Modeling and Simulation
SAN DIEGO and MCLEAN, Va., April 17 /PRNewswire-FirstCall/ -- Science Applications International Corporation announced that Katherine L. Morse, Ph.D., an SAIC Technical Fellow, has received the IEEE (Institute of Electrical and Electronics Engineers) Computer Society's prestigious 2007 Hans Karlsson Award.
Internationally recognized for her technical innovation in modeling and simulation integration, Morse has been actively involved in the standardization of modeling and simulation technology for more than a decade, making significant contributions to several key simulation interoperability standards.
The award recognizes Morse "for leadership in development of modeling and simulation standards and exemplary collaboration in establishing the Simulation Interoperability Standards Organization (SISO) Standards Activity Committee (SAC) as an IEEE standards sponsor." Morse is currently the chair of the SISO SAC.
"I'm extremely honored to have been selected to receive this important award," said Morse. "It recognizes the value of collaboration and open standards." Morse is currently the chief federation engineer on Future Combat Systems where she applies many of the open standards she helped develop.
"Katherine is an outstanding individual and an excellent example of the kind of high caliber people we have working as part of the SAIC family; we're all very proud of her achievement," said Beverly Seay, SAIC senior vice president and business unit general manager.
Founded in 1946, the IEEE Computer Society is the world's leading organization of computer professionals and the largest of 39 societies of the IEEE. The award was established in 1992 in memory of Hans Karlsson, chairman and father of the IEEE 1301 family of standards.
About SAIC
SAIC is a FORTUNE 500(R) scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The company's approximately 44,000 employees serve customers in the Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. SAIC had annual revenues of $8.9 billion for its fiscal year ended January 31, 2008. For more information, visit http://www.saic.com/.
SAIC: From Science To Solutions(R)
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward- looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2008, and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
Contact: Melissa Koskovich, McLean Laura Luke, McLean
703-676-6762 703-676-6533
koskovichm@saic.com laura.luke@saic.com
SAIC
CONTACT: Melissa Koskovich, +1-703-676-6762, koskovichm@saic.com, or Laura Luke, +1-703-676-6533, laura.luke@saic.com, both of SAIC McLean
Web site: http://www.saic.com/
Xerox Extends Information Technology Services Contract with EDS
PLANO, Texas and NORWALK, Conn., April 17 /PRNewswire-FirstCall/ -- EDS and Xerox Corporation announced today a $263 million agreement whereby EDS will manage and support Xerox's end-user computing environment, deliver internal Service Desk services, and provide mainframe services for an additional five years. The extended and expanded agreement provides the scale and flexibility for Xerox to stay ahead of technology advances and easily respond to changing and evolving market needs worldwide.
"As long-time business partners, this next stage modernizes our relationship," said John McDermott, CIO for Xerox. "EDS mirrors our global reach and has extensive knowledge of our business, industry and IT in general that helps reduce our overall IT spend and adds to our commitment to improving agility, productivity and service with technology."
This new agreement includes governance processes to drive and support ongoing innovation for both Xerox and EDS and a contract structure that allows for services and technology to be enhanced or replaced over the life of the contract as business needs change.
Under the terms of the agreement, EDS will continue to manage the Xerox employee computing environment, which includes service desk and support for computing devices and servers. Supporting more than 55,000 users in more than 20 countries, the agreement includes enterprise directory, e-mail/mobile/collaboration, account administration, software distribution, asset tracking and security services. EDS will also support users with a single-point-of-contact service desk in 21 languages. In addition, EDS will continue to provide mission-critical and reliable mainframe services, which include hosting and operations management.
"Today's global economy requires product and services companies such as Xerox to have near-real time ability to adapt and change to serve varying and evolving needs worldwide," said Darl Davidson, vice president, U.S. Manufacturing Industry, EDS. "As Xerox's business ally, we're beginning the next chapter of our relationship to help the company launch the next phase in its long and successful existence."
The new delivery model in this agreement expands the use of EDS' Best Shore(R) capabilities through EDS Regional Support Centers worldwide with the extension into Budapest, Hungary, and expansion of EDS' Mumbai, India center. It is also based on the Information Technology Infrastructure Library (ITIL(R)), a standard set of best practice approaches and procedures that improve IT service delivery and helps organizations such as Xerox improve productivity.
EDS Agility Alliance (http://www.eds.com/insights/alliances/agility/) partner Microsoft (http://www.eds.com/insights/alliances/microsoft/) will provide software and operating systems to Xerox as a part of this agreement. The EDS Agility Alliance is a coalition of companies globally recognized for their quality, products and value to clients. Its mission is to innovate, develop and deliver the EDS Agile Enterprise Platform -- EDS' next-generation global delivery system. Together, EDS and its Agility Alliance partners collaborate to design, build and run a market-leading services platform and develop technology-based services to deliver tangible client results. EDS Agility Alliance partners include Cisco, EMC, Microsoft, Oracle, SAP, Sun Microsystems and Xerox.
EDS has more than 30 years of experience in the manufacturing industry (http://www.eds.com/industries/manufacturing/) with more than 20,000 employees dedicated to serving this sector. With more than 220 manufacturing clients in 40-plus countries, EDS serves 75 of the top 100 manufacturing companies.
About Xerox Corporation
Xerox Corporation is a global technology and services enterprise that helps businesses deploy smarter document management strategies and find better ways to work. It offers an array of innovative document solutions, services and systems -- including color and black-and-white printers, digital presses, multifunction devices and digital copiers -- designed for offices and production-printing environments. It also offers associated supplies, software and support.
About EDS
EDS is a leading global technology services company delivering business solutions to its clients. EDS founded the information technology outsourcing industry more than 45 years ago. Today, EDS delivers a broad portfolio of information technology and business process outsourcing services to clients in the manufacturing, financial services, healthcare, communications, energy, transportation, and consumer and retail industries and to governments around the world. Learn more at eds.com.
The statements in this news release that are not historical statements, including statements regarding the amount of new contract values, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond EDS' control, which could cause actual results to differ materially from such statements. For information concerning these risks and uncertainties, see EDS' most recent Form 10-K. EDS disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT:
Travis Jacobsen Becky Dziedzic
EDS Xerox
972 797 8751 585 423 2623
travis.jacobsen@eds.com becky.dziedzic@xerox.com
Electronic Data Systems Corporation
CONTACT: Travis Jacobsen of EDS, +1-972-797-8751, travis.jacobsen@eds.com; or Becky Dziedzic of Xerox, +1-585-423-2623, becky.dziedzic@xerox.com
Web site: http://www.eds.com/
Advanced Energy to Report First Quarter 2008 Financial Results
FORT COLLINS, Colo., April 8, 2008 /PRNewswire-FirstCall/ -- Advanced Energy Industries, Inc. will release first quarter 2008 financial results on Wednesday, April 23, 2008. Management's quarterly company update will be held on April 23rd beginning at 3:00 p.m. Mountain Time/5:00 p.m. Eastern Time.
To participate in the live conference call, dial 888-713-4717 approximately 5 minutes prior to the start of the meeting, and an operator will connect you to the conference call. International participants may dial 706-634-7937. Participants will need to provide the operator with the conference pass code 42737664.
A live and archived webcast of the call will also be available on the company's website. To access the webcast, visit the Investor Relations section of Advanced Energy's corporate website at http://ir.advanced-energy.com/, and link to the Q108 Webcast on the Investor Relations Home Page. The archived webcast will be available at the same location approximately 2 hours following the end of the event.
Replay Information: A telephone replay may be accessed for 48 hours following the event. To access the replay, dial 800-642-1687 or 706-645-9291 and enter the conference pass code 42737664.
About Advanced Energy(R)
Advanced Energy(R) develops innovative power and control technologies that drive high-growth, plasma thin-film manufacturing processes worldwide, including semiconductors, flat panel displays, data storage products, solar cells, architectural glass, and other advanced product applications. Advanced Energy(R) also develops grid connect inverters for the solar energy market.
AE is a publicly held company traded on Nasdaq Global Market under the symbol AEIS. For more information, go to http://www.advanced-energy.com/.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20030825/AEISLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Advanced Energy Industries, Inc.
CONTACT: Annie Leschin or Brooke Deterline, +1-970-407-6555, ir@aei.com, both of Advanced Energy Industries, Inc.
Web site: http://www.advanced-energy.com/
Actions Semiconductor to Report First Quarter 2008 Financial Results on April 28, 2008
ZHUHAI, China, April 17 /Xinhua-PRNewswire-FirstCall/ -- Actions Semiconductor Co., Ltd. , one of China's leading fabless semiconductor companies that provides comprehensive mixed-signal system-on-a- chip (SoC) solutions for portable consumer electronics, today announced that it will release financial results for the first quarter of fiscal year 2008 ended March 31, 2008, following the close of the market on Monday, April 28, 2008. The company will host a corresponding conference call and live webcast at 5:30 p.m. Eastern Time (ET).
To listen to the live conference call, please dial 800-510-9661 or 617- 614-3452 and enter passcode 28207325 at 5:20 p.m. Eastern Time (ET) on April 28, 2008. An audio replay of the call will be available to investors through May 5, 2008, by dialing 888-286-8010 or 617-801-6888 and entering the passcode 40792268.
A live webcast of the call will be available from the "Investor Relations" section of the company's website at http://www.actions-semi.com/ .
About Actions Semiconductor
Actions Semiconductor is one of China's leading fabless semiconductor companies that provides mixed-signal and multimedia SoC solutions for portable consumer electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications of other required components and the providers of those components. Actions Semiconductor also provides total product and technology solutions that allow customers to quickly introduce new portable consumer electronics to the mass market in a cost effective way. The company is headquartered in Zhuhai, China, with offices in Beijing and Shenzhen. For more information, please visit the Actions Semiconductor website at http://www.actions-semi.com/ .
For More Information
Lisa Laukkanen
The Blueshirt Group for Actions Semiconductor
Email: lisa@blueshirtgroup.com
Tel: +1-415-217-4967
Ernie Huang
Investor Relations at Actions
Email: ernie@actions-semi.com
Tel: +86-756-3392353 x1095
Actions Semiconductor Co.
CONTACT: Lisa Laukkanen of The Blueshirt Group for Actions Semiconductor, +1-415-217-4967, or lisa@blueshirtgroup.com; or Ernie Huang of Investor Relations at Actions, +86-756-3392-353 x1095, or ernie@actions-semi.com
Web site: http://www.actions-semi.com/
Informatica to Acquire Identity SystemsAdvances data quality leadership with best-in-class cross-language identity resolution
REDWOOD CITY, Calif., April 17 /PRNewswire-FirstCall/ -- Informatica Corporation , the leading independent provider of data integration software, today announced a definitive agreement to acquire Nokia subsidiary Identity Systems, Inc., a pioneer in identity resolution technology. Identity resolution enables precise identity search and matching to find required critical information for individuals or organizations. This strategic acquisition will extend Informatica products with innovative, differentiated technology to search, match and resolve identity data about a variety of objects including people, companies and products.
Informatica will acquire all of the capital stock of Identity Systems for approximately $85 million in cash. The acquisition is subject to customary closing conditions, and is expected to close by the end of May 2008.
"The combination of Identity Systems and Informatica will offer the most advanced data quality products," said Sohaib Abbasi, chairman and CEO, Informatica. "This combination advances our leadership in three ways. First, we will offer our customers additional innovative capabilities for identity search and resolution. Second, it will extend our data quality products with differentiated cross-language identity matching capabilities. And third, our customers will benefit from the near-universal access of our leading data integration platform to integrate their data including identity data. Together, we will further enable organizations to gain a competitive advantage in today's global information economy by empowering them to access, integrate and trust their information assets."
Identity Resolution Pioneer
Identity resolution is a key enabling technology for a broad range of IT initiatives including data governance, master data management, customer data integration, customer relationship management, government intelligence, law enforcement and financial applications such as anti-money laundering.
Globalization and e-commerce are leading to greater diversity of identity information in IT systems that requires cross-language capabilities. In addition, exploding data volumes dictate far greater scalability than the traditional matching technologies.
Identity Systems, the identity resolution category leader, delivers the most comprehensive set of "fuzzy" algorithms, with built-in support for more than 60 languages, to enable precise identity search and matching, across immense volumes of data, in real-time.
"We are excited and confident that our innovative solutions, strong partner ecosystem and global customer base will advance Informatica's leadership in the data quality market. We look forward to becoming a part of the leading independent data integration software company," said Sanjay Rao, general manager, Identity Systems.
Improving Operational Efficiency
Today, most IT organizations hand-code their IT projects dealing with identity data. It is estimated that organizations annually spend more than $450 million on such projects. Identity Systems' technology improves operational efficiency by automating the entire process dealing with language, nomenclature, structure, format, location, duplication, omissions and even errors.
In fact, Identity Systems delivers proven and differentiated value to customers and partners: accuracy, high-performance scalability and cross- language support.
Government intelligence agencies around the world rely on Identity Systems' accuracy and precision to meet their stringent requirements. A leading data service bureau benefits from Identity Systems high-performance scalability for processing 12 million transactions per day using 2.6 billion records stored in 18,000 files. Finally, Hewlett Packard selected Identity Systems to utilize the comprehensive cross-language support for customer identity data required by their operations in 178 countries.
Customer and Partner Traction
More than 500 customers worldwide rely on Identity Systems solutions including leaders in public sector, financial services, law enforcement & homeland security, healthcare and telecommunications. These customers include U.S. Internal Revenue Service, Hong Kong Customs, GE Capital, British Telecom, AT&T, Equifax and Experian. In addition, Identity Systems' partners include Oracle/Siebel, Dun & Bradstreet and Choicepoint.
Conference Call
Informatica will be discussing the acquisition of Identity Systems as part of the first quarter 2008 earnings call beginning today at 2:00 p.m. PDT. A live Webcast of the conference call will be available at http://www.informatica.com/investor. A replay of the call will also be available by dialing 617-801-6888, reservation number 66854959.
About Informatica
Informatica Corporation is the leading independent provider of enterprise data integration software and services. With Informatica, companies can gain greater business value by integrating all their information assets from across the enterprise. More than 3,025 companies worldwide rely on Informatica to reduce the cost and expedite the time to address data integration needs of varying complexity and scale. For more information, call +1 650 385 5000 (+1 800 970 1179 in the U.S.), or visit http://www.informatica.com/.
This press release contains forward-looking statements regarding the expected timing of the closing of the acquisition of Identity Systems, the expected benefits to our customers and products and our ability to integrate the technology we acquire into our data integration product suite according to the timeline described above. Such statements involve risks and uncertainties, and actual results may differ materially from the results described in this press release. The potential risks and uncertainties that could cause actual results to differ include, among others, risks related to our ability to (1) successfully integrate Identity Systems and its employees into Informatica and achieve expected synergies, (2) compete successfully in this highly competitive and rapidly changing marketplace, (3) retain key employees and (4) other factors affecting the operation of the respective businesses, as well as those risks and uncertainties included under the caption "Risk Factors" in Informatica's report on Form 10-Q for the year ended December 31, 2007, which is on file with the SEC and is available on the company's investor relations website at http://www.informatica.com/. All information provided in this release is as of April 17, 2008, and Informatica undertakes no duty to update this information.
Note: Informatica is a registered trademark of Informatica Corporation in the United States and in jurisdictions throughout the world. All other company and product names may be trade names or trademarks of their respective owners.
Informatica Corporation
CONTACT: Deborah Wiltshire of Informatica Corporation, +1-650-385-5360, mobile, +1-650-862-8186, dwiltshire@informatica.com; or Donna Lyon of Text 100, +1-415-593-8478, mobile, +1-650-248-1587, informatica@text100.com, for Informatica
Web site: http://www.informatica.com/
Informatica Reports Record First Quarter ResultsAchieves Revenue Growth of 19 Percent
REDWOOD CITY, Calif., April 17 /PRNewswire-FirstCall/ -- Informatica Corporation , a leading provider of data integration software, today announced financial results for the first quarter ended March 31, 2008.
Revenues for the first quarter of 2008 were $103.7 million, up 19 percent from the $87.1 million recorded in the first quarter of 2007. License revenues for the first quarter were $44.2 million, up 18 percent from the $37.6 million recorded in the first quarter of 2007. Net income for the first quarter, calculated in accordance with U.S. generally accepted accounting principles (GAAP), was $11.2 million or $0.12 per diluted share, up more than 20 percent from net income of $9.1 million or $0.10 per diluted share in the first quarter of 2007.
Non-GAAP net income for the first quarter of 2008 was $15.7 million or $0.16 per diluted share, up from $14.4 million or $0.15 per diluted share in the first quarter of 2007. Non-GAAP net income excludes charges related to purchased in-process research and development, share-based payments, facilities restructuring charges, and the amortization of acquired technology and intangible assets. A reconciliation of GAAP results to non-GAAP results is included below.
"We are pleased with the record first quarter results we attained despite the current macroeconomic uncertainty," said Sohaib Abbasi, chairman and CEO of Informatica. "With our geographic diversification strategy, we clearly benefited from growing contribution by international regions."
Significant milestones achieved since January 2008 include:
-- Announced definitive agreement to acquire Identity Systems, a pioneer
in identity resolution and matching technology. The acquisition is
expected to close by the end of May 2008. This strategic acquisition
will enhance Informatica products with innovative, differentiated
technology to search, match and resolve identity data about a variety
of objects including people, companies and products.
-- Signed repeat business with 178 customers. Customers continue to
derive considerable value from their investments in Informatica
solutions. Repeat customers included American Medical Association,
AT&T Services, BNP Paribas, Deutsche Post, McKesson, Merck Serono
International, T-Mobile and Vodafone Group Services.
-- Added 38 new customers. Informatica increased its customer base this
quarter to 3,026 companies. New customers include Andersons, Banco
Bradesco, Cementos Argos, Generalitat Valenciana, Grant Thornton, Korea
Export Insurance Commission, Litton Loan Services, Metropolitan Police
London, and RightNow Technologies.
-- Launched the Informatica Data Migration Suite. The Suite is comprised
of Informatica's proven data integration and data quality tools
specifically packaged together to support data migration projects. In
conjunction with Informatica's proven Informatica Velocity Migration
Methodology(SM) and end-to-end migration services capability, the Suite
provides a comprehensive solution addressing the data migration needs
of enterprise customers.
-- Wipro Technologies Selected Informatica for Data Migration Service.
Wipro will power its Data Migration Services using Informatica's
platform for its customers worldwide. Wipro's Data Migration Shared
Services offering will leverage the Informatica Data Migration Suite to
automate and streamline the bulk of the migration process.
-- Launched the INFORM Partner Network. The new worldwide partner
program, INFORM, comprises a comprehensive set of programs and services
to help Alliance and OEM Partners develop and promote solutions in
conjunction with Informatica.
-- Was Recognized as One of "America's 100 Most Trustworthy Companies." In
a special report by Forbes.com, Informatica was recognized as the
eleventh most trustworthy mid-cap company. The report was based on
analysis by Audit Integrity, a financial analytics company, which
compiled the list of companies that, by their assessment, "have
consistently released transparent accounting statements and follow
conservative accounting procedures."
Stock Repurchase Program
Informatica also today announced that its Board of Directors has authorized a $75 million increase in its common stock repurchase program. This $75 million authorization is in addition to the $16 million remaining under the previous $50 million authorization announced in April 2007. The company expects to repurchase shares to offset the otherwise dilutive impact of stock option exercise activity. Purchases may be made, from time to time, in the open market and will be funded from available working capital. The number of shares to be purchased and the timing of purchases will be based on several factors, including the price of Informatica's stock, general business and market conditions, and other investment opportunities.
Conference Call and Webcast
Informatica will discuss its first quarter 2008 results on a conference call today beginning at 2:00 p.m. PDT. A live Webcast of the conference call will be available at http://www.informatica.com/investor. A replay of the call will also be available by dialing 617-801-6888, reservation number 66854959.
About Informatica
Informatica Corporation is the leading independent provider of enterprise data integration software and services. Using Informatica products, companies gain greater business value by integrating all their information assets. More than 3,000 companies worldwide rely on Informatica to reduce the cost and expedite the time to address data integration needs of varying complexity and scale. For more information, call 650-385-5000 (1-800-653-3871 in the U.S.), or visit http://www.informatica.com/.
INFORMATICA CORPORATION
GAAP TO NON-GAAP RESULTS
(in thousands, except per share data)
(unaudited)
Three Months Ended
March 31,
2008 2007
GAAP Net income $11,224 $9,094
Plus:
Amortization of acquired technology 620 722
Amortization of intangible assets 362 356
Facilities restructuring charges 947 1,049
Share-based payments 4,114 4,041
Tax benefit of amortization of intangible
assets and restructuring charges (752) -
Tax benefit of share-based payments (802) (867)
Non-GAAP Net income $15,713 $14,395
Three Months Ended
March 31,
2008 2007
Diluted net income per share: *
Diluted GAAP Net income per share $0.12 $0.10
Plus:
Amortization of acquired technology 0.01 0.01
Amortization of intangible assets - -
Facilities restructuring charges 0.01 0.01
Share-based payments 0.04 0.04
Tax benefit of amortization of intangible
assets and restructuring charges (0.01) -
Tax benefit of share-based payments (0.01) (0.01)
Diluted Non-GAAP Net income per share $0.16 $0.15
Shares used in computing diluted GAAP Net
income per share 103,727 102,638
Shares used in computing diluted Non-GAAP
Net income per share 104,706 104,129
* Diluted EPS is calculated under the "if converted" method for the
three months ended March 31, 2008 and 2007.
This includes the add-back of $1.1 million of interest and convertible
notes issuance cost amortization, net of income taxes for both
periods.
Non-GAAP Financial Information
To supplement Informatica's condensed consolidated financial statements prepared and presented on a GAAP basis, Informatica uses non-GAAP financial measures of net income and net income per share. These measures are adjusted from net income or net income per share prepared in accordance with GAAP to exclude the charges and expenses discussed above. The presentation of these non-GAAP financial measures are not meant to be considered in isolation or as a substitute for, or superior to, net income or net income per share prepared in accordance with GAAP.
Informatica believes the disclosure of such non-GAAP financial measures is appropriate to enhance an overall understanding of its financial performance, its financial and operational decision making, and as a means to evaluate period to period comparisons. These adjustments to the company's GAAP results are made with the intent of providing both management and investors a more complete understanding of Informatica's performance, by excluding certain expenses and expenditures such as non-cash charges and discrete charges that are infrequent in nature, such as charges related to acquisitions, that may not be indicative of its underlying operating results. In addition, Informatica believes these non-GAAP financial measures are useful to investors because they allow for greater transparency into the indicators used by management as a basis for its financial and operational decision making. Informatica believes that the disclosure of these non-GAAP financial measures provides consistency and comparability of its recent financial results with its historical financial results, as well as to the operating results of similar companies in Informatica's industry, many of which present similar non-GAAP financial measures to investors. As an example, Informatica believes that it enhances comparability with similar companies' operating results by excluding stock-based compensation in its non-GAAP financial measures because of the different types of stock-based awards that companies may grant and because SFAS 123(R) allows companies to use different valuation methodologies and subjective assumptions. In addition, Informatica believes that both management and investors benefit from referring to these non-GAAP financial measures when planning, analyzing and forecasting future periods.
There are a number of limitations related to these non-GAAP financial measures: (1) the non-GAAP measures exclude some costs that are recurring, particularly share-based payments, and we believe that share-based compensation will continue to be a significant recurring expense for the foreseeable future; because share-based compensation is an important part of our employees' compensation, such payments can impact their performance; and (2) the items we exclude in our non-GAAP measures may differ from the components our peer companies exclude when they report their non-GAAP measures. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP measures and evaluating non-GAAP measures together with the corresponding measures calculated in accordance with GAAP.
Safe Harbor
This press release contains forward-looking statements relating to Informatica's opportunity for growth in the data integration market, the expected timing of the closing of the acquisition of Identity Systems, efforts being conducted with strategic partners and the company's intention to repurchase shares of its common stock under the stock repurchase program. Such statements involve risks and uncertainties, and actual results may differ materially from the results described in this press release. The potential risks and uncertainties that could cause actual results to differ include, among others, risks related to (1) competition with larger companies that have longer operating histories and greater financial, technical, marketing, and other resources; (2) uncertainty in the state of IT spending and the continued growth in the market for data integration solutions in general; (3) factors related to the stock repurchase program including the market price of the company's stock, general business and market conditions, and management's determination of alternative needs and uses of the company's cash resources and (4) lack of control regarding our strategic partners' devotion of adequate resources to promote, sell, implement, and support our products, as well as those risks and uncertainties included under the caption "Risk Factors" in Informatica's report on Form 10-K for the year ended December 31, 2007, which is on file with the SEC and is available on the company's investor relations website at http://www.informatica.com/. All information provided in this release is as of April 17, 2008 and Informatica undertakes no duty to update this information.
Note: Informatica, Informatica Data Migration Suite, and Informatica Velocity Migration Methodology are trademarks or registered trademarks of Informatica Corporation in the United States and in jurisdictions throughout the world. All other company and product names may be trade names or trademarks of their respective owners.
INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Three Months Ended
March 31,
2008 2007
Revenues:
License $44,209 $37,562
Service 59,501 49,552
Total revenues 103,710 87,114
Cost of revenues:
License 693 805
Service 19,785 16,314
Amortization of acquired technology 620 722
Total cost of revenues 21,098 17,841
Gross profit 82,612 69,273
Operating expenses:
Research and development 17,724 18,024
Sales and marketing 42,787 35,111
General and administrative 8,369 7,725
Amortization of intangible assets 362 356
Facilities restructuring charges 947 1,049
Total operating expenses 70,189 62,265
Income from operations 12,423 7,008
Interest income and other, net 3,558 3,159
Income before income taxes 15,981 10,167
Income tax provision 4,757 1,073
Net income $11,224 $9,094
Basic net income per common share $0.13 $0.11
Diluted net income per common share (1) $0.12 $0.10
Shares used in computing basic net
income per common share 88,128 86,448
Shares used in computing diluted net
income per common share 103,727 102,638
(1) Diluted EPS is calculated under the "if converted" method for the
three months ended March 31, 2008 and 2007.
This includes the add-back of $1.1 million of interest and convertible
notes issuance cost amortization, net of income taxes for both
periods.
INFORMATICA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
March 31, December 31,
2008 2007
(unaudited)
Assets
Current assets:
Cash and cash equivalents $304,701 $203,661
Short-term investments in marketable
securities 218,070 281,197
Accounts receivable, net of allowances
of $1,346 and $1,299, respectively 45,965 72,643
Deferred tax assets 18,482 18,294
Prepaid expenses and other current assets 18,630 14,693
Total current assets 605,848 590,488
Restricted cash 12,126 12,122
Property and equipment, net 9,921 10,124
Goodwill and intangible assets, net 178,259 179,315
Investment in equity interests 3,000 -
Long-term deferred tax assets 462 462
Other assets 6,072 6,133
Total assets $815,688 $798,644
Liabilities and stockholders' equity
Current liabilities:
Accounts payable and other current
liabilities $46,344 $62,791
Accrued facilities restructuring charges 19,129 18,007
Deferred revenues 106,327 99,415
Total current liabilities 171,800 180,213
Convertible senior notes 230,000 230,000
Accrued facilities restructuring charges,
less current portion 53,672 56,235
Long-term deferred revenues 12,753 13,686
Long-term income taxes payable 6,577 5,968
Stockholders' equity 340,886 312,542
Total liabilities and stockholders'
equity $815,688 $798,644
INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Three Months Ended
March 31,
2008 2007
Operating activities:
Net income $11,224 $9,094
Adjustments to reconcile net income net
cash provided by operating activities:
Depreciation and amortization 1,401 2,714
Share-based payments 4,114 4,041
Deferred income taxes (840) -
Tax benefits from stock option plans 2,961 -
Excess tax benefits from share-based
payments (2,335) -
Amortization of intangible assets
and acquired technology 982 1,078
Non-cash facilities restructuring charges 947 1,049
Changes in operating assets and
liabilities:
Accounts receivable 26,678 20,444
Prepaid expenses and other assets (3,952) (2,419)
Accounts payable and other current
liabilities (16,201) (12,379)
Income taxes payable 435 3,789
Accrued facilities restructuring charges (2,347) (3,547)
Deferred revenues 5,979 2,999
Net cash provided by operating
activities 29,046 26,863
Investing activities:
Purchases of property and equipment (1,071) (2,095)
Purchases of investments (60,054) (123,473)
Payment of investment in equity interests (3,000) -
Maturities and sales of investments 124,120 92,640
Net cash provided by (used in)
investing activities 59,995 (32,928)
Financing activities:
Net proceeds from issuance of common stock 13,757 8,525
Repurchases and retirement of common stock (6,349) (1,389)
Excess tax benefits from share-based
payments 2,335 -
Net cash provided by financing
activities 9,743 7,136
Effect of foreign exchange rate changes on
cash and cash equivalents 2,256 156
Net increase in cash and cash equivalents 101,040 1,227
Cash and cash equivalents at beginning of
period 203,661 120,491
Cash and cash equivalents at end of period $304,701 $121,718
Informatica Corporation
CONTACT: Deborah Wiltshire, Public Relations, +1-650-862-8186, dwiltshire@informatica.com, or Stephanie Wakefield, Senior Director, Investor Relations, +1-650-385-5261, swakefield@informatica.com, both of Informatica Corporation
Web site: http://www.informatica.com/
Dynamics Research Corporation Announces First Quarter 2008 Conference Call
ANDOVER, Mass., April 17 /PRNewswire-FirstCall/ -- Dynamics Research Corporation announced today that it will release its first quarter 2008 financial results after the market closes on Wednesday, April 30, 2008. A conference call to review the results will be held on Thursday, May 1, 2008 at 10:00 a.m. ET.
James P. Regan, Chairman and Chief Executive Officer and David Keleher, Senior Vice President and Chief Financial Officer will host the call.
The call will be available by telephone at (877) 723-9511, and accessible by Web cast at http://www.drc.com/. Recorded replays of the conference call will be available on Dynamics Research Corporation's investor relations home page at http://www.drc.com/ and by telephone at (888) 203-1112, passcode #1426865, beginning at 1:00 p.m. ET May 1, 2008 through 11:59 p.m. ET May 8, 2008.
About Dynamics Research Corporation
Dynamics Research Corporation (DRC) is a leading provider of mission- critical technology management services and solutions for government programs. DRC offers forward-thinking solutions backed by a history of excellence and customer satisfaction. Founded in 1955, DRC is a publicly held corporation and maintains more than 25 offices nationwide with major offices in Andover, Massachusetts; Reston, Virginia; and Fairborn, Ohio. For more information please visit our website at http://www.drc.com/.
Safe harbor statements under the Private Securities Litigation Reform Act of 1995: Some statements contained or implied in this news release, may be considered forward-looking statements, which by their nature are uncertain. Consequently, actual results could materially differ. For more detailed information concerning how risks and uncertainties could affect the company's financial results, please refer to DRC's most recent filings with the SEC. The company assumes no obligation to update any forward-looking information.
CONTACTS: Investors: Dave Keleher
SVP and Chief Financial Officer
978.289.1615
dkeleher@drc.com
Media: Duyen "Jen" Truong
Sage Communications (for DRC)
703.584.5645
duyent@aboutsage.com
Dynamics Research Corporation
CONTACT: Investors: Dave Keleher, SVP and Chief Financial Officer, of Dynamics Research Corporation, +1-978-289-1615, dkeleher@drc.com; or Media: Duyen "Jen" Truong, Sage Communications for DRC, +1-703-584-5645, duyent@aboutsage.com
Web site: http://www.drc.com/
Ascend Acquisition Corp. Announces Record Date
NEW YORK, April 17 /Xinhua-PRNewswire-FirstCall/ -- Ascend Acquisition Corp. (BULLETIN BOARD: ASAQ, ASAQU, ASAQW) (''Ascend''), a public company organized for the purpose of acquiring an operating business, announced today that stockholders of record as of April 21, 2008 (the ''Record Date'') will be invited to attend Ascend's special meeting in lieu of annual meeting of stockholders to vote on the following six proposals: (1) to consider and vote upon a proposal to move the domicile of Ascend to Bermuda through an amalgamation of Ascend and ePAK International Limited (''ePAK''), a Bermuda subsidiary formed for the purpose of effecting the redomestication; (2) to approve the Agreement and Plan of Reorganization, dated as of July 20, 2007, as amended, by which ePAK would acquire all of the outstanding capital stock of e.PAK Resources (S) Pte. Ltd. (''e.PAK Resources''), (3) to consider and vote upon a proposal to increase the authorized common stock of the continuing public company from 30 million to 70 million shares; (4) to consider and vote upon a proposal to approve an equity-based incentive compensation plan for directors, officers, employees, consultants and others; (5) to consider and vote upon a proposal to have the continuing public company's name be ePAK International Limited; and (6) to consider the adjournment, if necessary, of the special meeting to solicit proxies.
Ensuring Your Vote is Counted
In advance of the Record Date, Ascend advises holders of its securities to move these securities into accounts which do not permit the lending of securities, so called cash accounts or segregated accounts, and out of accounts that permit the lending of securities, such as margin accounts. These steps are designed to ensure that votes related to common and common shares beneficially owned by stockholders are properly counted. Beneficial owners of common shares that have been lent out (either with or without the beneficial owners' knowledge) are not permitted to vote those shares.
About e.PAK Resources
e.PAK Resources was established in 1999 by a team of semiconductor industry veterans. e.PAK Resources' product areas include IC transport, wafer, and electronic systems handling. The company's products are sold globally to a blue chip customer list of semiconductor companies, equipment suppliers, and assembly and test vendors. The company's low-cost, large-scale manufacturing operations in Shenzhen, PRC are centrally located to the semiconductor industry. e.PAK Resources is based in Singapore and maintains nine sales offices worldwide.
About Ascend Acquisition Corp.
Ascend Acquisition Corp. was formed on December 5, 2005 for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business. Ascend raised net proceeds of approximately $38.5 million through its initial public offering in May 2006.
Not a Proxy Statement
This press release is not a proxy statement or a solicitation of proxies from the holders of common stock of Ascend and does not constitute an offer of any securities of Ascend for sale. In connection with the proposed acquisition, Ascend has filed a preliminary proxy statement/prospectus with the Securities and Exchange Commission. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE DEFINITIVE PROXY STATEMENT/PROSPECTUS THAT WILL BE MAILED TO ALL STOCKHOLDERS OF RECORD BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT ASCEND AND e.PAK RESOURCES. Any solicitation of proxies will be made only by Ascend's definitive proxy statement/prospectus. Investors and security holders may obtain a free copy of the definitive proxy statement/prospectus and other documents filed by Ascend at the Securities and Exchange Commission's web site at http://www.sec.gov/.
This press release may contain certain forward-looking statements including statements with regard to the future performance of Ascend. Words such as ''believes,'' ''expects,'' ''projects,'' and ''future'' or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties that are detailed in Ascend's filings with the Securities and Exchange Commission. Ascend undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
Ascend Acquisition Corp.
Don K. Rice, Chairman and CEO
Tel: 610-519-1336
Email: Don@ascendgrowth.com
Investor Relations:
Crocker Coulson, President
CCG Investor Relations
Tel: 646-213-1915
Email: Crocker.coulson@ccgir.com
Ascend Acquisition Corp.
CONTACT: Don K. Rice, Chairman and CEO of Ascend Acquisition Corporation, +1-610-519-1336, or don@ascendgrowth.com; or Crocker Coulson, President of CCG Investor Relations for Ascend Acquisition Corp., +1-646-213-1915, or crocker.coulson@ccgir.com
LodgeNet Appoints John E. Haire, Former Time Warner Executive, to Board of Directors
SIOUX FALLS, S.D., April 17 /PRNewswire-FirstCall/ -- LodgeNet Interactive Corporation announced today that John E. ("Jack") Haire has been appointed to its Board of Directors. LodgeNet is the leading provider of media and connectivity solutions designed to meet the unique needs of hospitality, healthcare and other guest-based businesses.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/AQTU120LOGO)
Mr. Haire spent more than 25 years at Time Warner in a variety of senior executive positions. From 2001 to 2005 he served as Executive Vice President of Time Inc. where he ran the Corporate Sales and Marketing Division and chaired the Time Warner Advertising Council. Earlier in his career, Mr. Haire served as publisher of TIME Magazine and President of Fortune/Money Group. Since then, he has served as an advisor to numerous companies, including CNET Networks, Hallmark and Quigo Technologies, where he has focused on assisting those companies in developing advertising strategies.
"Jack Haire's extensive relationships in the advertising and media world, along with his years of experience in creating and developing strategic partnerships will be invaluable to LodgeNet as we continue to develop our advertising and media-based businesses," said Scott C. Petersen, Chairman, President and CEO of LodgeNet. "We are extremely pleased to welcome Jack to our Board and look forward to his many contributions to the Company."
Mr. Haire serves on the boards of The Phoenix Companies, Inc., Concern Worldwide U.S., and The Ireland-U.S. Council. He holds a bachelor's degree in history from American University.
About LodgeNet
LodgeNet Interactive Corporation is the leading provider of media and connectivity solutions designed to meet the unique needs of hospitality, healthcare and other guest-based businesses. LodgeNet Interactive serves more than 1.9 million hotel rooms representing 9,900 hotel properties worldwide in addition to healthcare facilities throughout the United States. The company's services include: Interactive Television Solutions, Broadband Internet Solutions, Content Solutions, Professional Solutions and Advertising Media Solutions. LodgeNet Interactive Corporation owns and operates businesses under the industry leading brands: LodgeNet, LodgeNetRX, and The Hotel Networks. LodgeNet Interactive is listed on NASDAQ and trades under the symbol LNET. For more information, please visit http://www.lodgenet.com/.
LodgeNet is a registered trademark of LodgeNet Interactive Corporation.
Photo: http://www.newscom.com/cgi-bin/prnh/20080115/AQTU120LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
LodgeNet Interactive Corporation
CONTACT: Ann Parker, Director of Corporate Communications of LodgeNet Interactive Corporation, +1-605-988-1000, communications@lodgenet.com
Web site: http://www.lodgenet.com/
CDG Investments Inc. Rejects Reverse Merger Proposal from Chronic Car Audio Inc.
MESA, Ariz., April 17 /PRNewswire-FirstCall/ -- Chronic Car Audio, Inc. of Mesa, Arizona reports that CDG Investments Inc., trading symbol CDGEF, rejected the reverse merger proposal from Chronic Car Audio Inc, trading symbol CCAU.PK. CFO of Chronic Car Audio Inc., H. Blanchette, stated that they will continue to search and be open to reverse merger, merger, or sale of the company opportunities. Chronic Car Audio Inc. had revenues of 7.2 million in 2007.
Chronic Car Audio, Inc (Pink Sheets: CCAU) is a publicly traded company that operates five retail locations within the fast-growing Phoenix Metropolitan area, and carries a full line of car audio, car alarms, and mobile video; featuring well known brands such as: Sony, JL Audio, Soundstream, JVC, MTX, Python, Auto Page, Eclipse, and other marquee brands.
Contact:
Chronic Car Audio Inc.
H. J. Blanchette, CFO 480-396-0250
investorrelations@chroniccaraudio.com
http://www.chroniccaraudio.com/
Chronic Car Audio, Inc.
CONTACT: H. J. Blanchette, CFO of Chronic Car Audio Inc., +1-480-396-0250, investorrelations@chroniccaraudio.com
Web site: http://www.chroniccaraudio.com/
Worcester, Massachusetts Residents and Assumption College Faculty and Students to Benefit from Verizon Wireless Network ExpansionInvesting to Stay Ahead of Growing Demand for Wireless Voice, Multimedia and Internet Access
WORCESTER, Mass., April 17 /PRNewswire/ -- In a continuing effort to provide the best wireless service for local residents in Worcester County, Verizon Wireless has activated a new cell site. The new site increases wireless voice and data coverage and capacity along Route 122a and Salisbury Street, as well as improving service to Assumption College and the surrounding area.
Verizon Wireless has invested nearly $44 billion since it was formed to increase the coverage and capacity of its national network and to add new services like BroadbandAccess and V CAST. Regionally the company has invested nearly $2.2 billion into its New England network, including over $292 million in 2007 alone.
BroadbandAccess offers computer users the nation's most reliable high-speed wireless mobile broadband network, operating at average upload speeds between 500 and 800 kbps, and download speeds between 600 kbps and 1.4 mbps over Verizon Wireless' BroadbandAccess with EV-DO Revision A network. V CAST brings video clips of TV shows, music on demand and other multimedia services to wireless phones.
Strong demand for Verizon Wireless services continued during the fourth quarter of 2007 as the company added two million net new customers and, for the thirteenth consecutive quarter, reported the lowest customer turnover (highest customer loyalty) rate in the wireless industry.
The company's 'nation's most reliable wireless network' reputation is based on network studies performed by real-life test men and test women throughout the country who inspired the "can you hear me now" national advertising campaign. Nationally, these test men and women drive nearly 100 specially equipped vehicles almost 1,000,000 miles annually on Interstate, U.S. and state highways as well as major roads and surface streets in high-population areas, based upon U.S. Census counts, to confirm that voice calls and data connections are successful on the first attempt and stay connected. Vehicles are equipped with computers that automatically make more than three million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 65.7 million customers. Headquartered in Basking Ridge, N.J., with 69,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
BroadbandAccess speed claim is based on stationary tests with 5 MB FTP data files w/o compression and requires compatible EV-DO Rev. A device. Actual throughput speed varies. BroadbandAccess is available to more than 240 million people in 248 major metros in the U.S. V CAST Music phone & per song charges required; airtime may apply for music downloads. Additional charges required for other V CAST services. Offers & coverage, varying by service, not available everywhere. Network details and coverage maps at vzw.com.
Verizon Wireless
CONTACT: Michael Murphy of Verizon Wireless, +1-781-932-1213, Michael.Murphy@verizonwireless.com; or Anne Elise O'Connor of Thomson Communications for Verizon Wireless, +1-617-548-2765, Aeoc@thomsoncommunications.com
Web site: http://www.verizonwireless.com/ http://www.verizonwireless.com/multimedia http://vzw.com/
Diebold Announces Release Date for 2008 First Quarter Preliminary Revenue Estimates
NORTH CANTON, Ohio, April 17 /PRNewswire-FirstCall/ -- Diebold, Incorporated intends to release its 2008 first quarter preliminary revenue estimates on April 30, 2008, before trading begins on the New York Stock Exchange. The release will also include estimated data on the company's net debt position, market outlook and other strategic information. Management is not hosting a conference call in conjunction with the release.
As previously disclosed, the company is not in a position to release its full financial statements, including earnings, until after completion of the review of other accounting items by the company and its audit committee, in consultation with their outside advisors. The company currently anticipates this review will be completed by the end of the second quarter of 2008.
Forward-Looking Statements
In this press release, statements that are not reported financial results or other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events and are not guarantees of future performance. These forward-looking statements relate to, among other things, the ongoing SEC and U.S. Department of Justice investigations and the completion of the review being conducted by the company and its audit committee. The use of the words "believes," "anticipates," "expects," "intends" and similar expressions is intended to identify forward-looking statements that have been made and may in the future be made by or on behalf of the company.
Although the company believes that these forward-looking statements are based upon reasonable assumptions, these forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed in or implied by the forward-looking statements. The company is not obligated to update forward-looking statements, whether as a result of new information, future events or otherwise.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Some of the risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements include, but are not limited to the timing and results of the SEC and U.S. Department of Justice investigations and the review being conducted by the company and its audit committee.
About Diebold
Diebold, Incorporated is a global leader in providing integrated self-service delivery and security systems and services. Diebold employs more than 17,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's Web site at http://www.diebold.com/.
Diebold, Incorporated
CONTACT: Media Relations, Mike Jacobsen, +1-330-490-3796, michael.jacobsen@diebold.com, or Investor Relations, Christopher Bast, +1-330-490-6908, christopher.bast@diebold.com, both of Diebold, Incorporated
Web site: http://www.diebold.com/
Magic Software Reports that the Tel Aviv Labor Court has Denied an Ex Parte Request for Relief Sought its CEO and Director
OR YEHUDA, Israel, April 17 /PRNewswire-FirstCall/ -- Magic Software Enterprises Ltd. , a leading provider of business integration and application development technology, today announced that the Tel Aviv Labor Court has denied an ex parte request for relief sough by its President, CEO and Director, Mr. Eitan Naor. Mr. Naor has initiated an action in the Tel Aviv Labor Court against the Company and its Chairman, Mr. Guy Bernstein, seeking a temporary order among other things, that would prevent the Company from suspending him, initiating any process that would lead to the termination of his employment, or taking any action that would affect his position as President, CEO and Director. Mr. Naor also sought a temporary order that would reinstate him to all positions held by him with the Company. The Labor Court denied Mr. Naor's ex parte application and scheduled a hearing on the matter on April 28, 2008.
About Magic Software Enterprises
Magic Software Enterprises Ltd. has been a leader in enterprise application development, deployment and integration technology for more than two decades. The company's service-oriented (SOA) platforms are used by companies worldwide to develop, maintain, and deploy both legacy and new business solutions, while integrating these applications across both internal and external, heterogeneous environments. Magic Software's platform-independent methodology lets companies achieve agility by quickly assembling composite applications, allowing programmers to create services and architects and business analysts to orchestrate and reuse these services to enable business processes. Through partnerships with industry leaders such as IBM and SAP and more than 2500 ISVs worldwide, Magic Software technology is used by more than 1.5 million customers around the globe. For more information on Magic Software Enterprises Ltd. and its products and services, visit http://www.magicsoftware.com/.
Magic Software is a subsidiary of the Formula Systems and Emblaze Group of companies.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both here and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in the Company's most recent annual report and other filings with the Securities and Exchange Commission.
Contact:
David Zigdon
+972-3-5389600
dzigdon@magicsoftware.com
Magic Software Enterprises Ltd
CONTACT: Contact: David Zigdon, +972-3-5389600, dzigdon@magicsoftware.com
Stoneridge, Inc. to Broadcast Its First-Quarter 2008 Conference Call on the Web
WARREN, Ohio, April 17 /PRNewswire-FirstCall/ -- Stoneridge, Inc. will broadcast its first-quarter 2008 earnings conference call live over the Internet on Friday, May 2, 2008 at 11 a.m. Eastern time with President and Chief Executive Officer, John Corey and Executive Vice President and Chief Financial Officer, George Strickler.
This webcast can be accessed through the Company's Web site, http://www.stoneridge.com/ . The webcast is also being distributed over CCBN's Investor Distribution Network. Individual investors can listen to the webcast at http://www.fulldisclosure.com/ . Institutional investors can access the webcast via CCBN's password-protected event management site, StreetEvents ( http://www.streetevents.com/ ).
Stoneridge, Inc., headquartered in Warren, Ohio, is a leading independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems principally for the automotive, medium- and heavy-duty truck, agricultural and off-highway vehicle markets. Sales in 2007 were approximately $727 million. Additional information about Stoneridge can be found at http://www.stoneridge.com/ .
For more information, contact:
Kenneth A. Kure, Corporate Treasurer and Director of Finance 330/856-2443
Stoneridge, Inc.
CONTACT: Kenneth A. Kure, Corporate Treasurer and Director of Finance, Stoneridge, Inc., +1-330-856-2443
Web site: http://www.stoneridge.com/ http://www.fulldisclosure.com/ http://www.streetevents.com/
Adaptec Series 5 Unified Serial Raid Controllers Receive VMware CertificationAppLabs Certification Ensures Customers Can Take Advantage of Adaptec RAID Performance, Design Flexibility and Scalability Within a Virtualized Storage Environment
MILPITAS, Calif., April 17 /PRNewswire-FirstCall/ -- Adaptec, Inc., , a global leader in storage solutions, today announced that all seven products in the Adaptec Series 5 Unified Serial (SATA/SAS) Controllers have been certified with VMware ESX Server 3.02 and 3.5 through AppLabs, the world's largest independent testing, quality management and certification solutions company. This certification ensures that system integrators and IT professionals can deliver the unmatched performance and scalability of Adaptec Series 5 RAID controllers combined with the features available with VMware Server ESX 3.02 and 3.5, such as expanded storage options and SATA support. As virtualized storage environments, like those offered through VMware, continue to grow within enterprise IT infrastructures, Adaptec RAID controllers are positioned to deliver industry leading I/O performance, along with scalability and reliability, within this expanding market.
Built on the breakthrough Adaptec Unified Serial Architecture, the Adaptec RAID Series 5 family's unique design of up to 28 ports -- 24 internal and 4 external -- allows enterprise data storage solutions to take advantage of low-cost SATA environments while delivering SAS performance and reliability. The Adaptec Series 5 multi-port design delivers tremendous design flexibility to Adaptec customers. It allows system integrators and OEMs to create tiered storage environments that ensure massive scalability while simultaneously simplifying the development and validation process. It allows system resellers to easily sell-up or sell-down by tailoring storage solutions based on individual application requirements. And, it enables enterprise customers to "future-proof" today's system expenditures with the knowledge that as data capacity demands grow, additional storage hardware can be effortlessly added or swapped.
"The Series 5 controller certification with the VMware ESX 3.x platform further demonstrates our commitment to work closely with key software and hardware storage ecosystem partners," said Suresh Panikar, director, Worldwide Marketing, Adaptec. "Virtualization is a growing environment that many of our customers are evaluating. Gaining certification though AppLabs, a highly-respected testing and certification solutions company, ensures customers that they can continue to utilize our proven RAID controllers with the confidence that they will deliver the same high performance, scalability and design flexibility with a leader in the virtualization market."
"AppLabs' VMware certification program is only available to select VMware technology partners, and Adaptec Series 5 controllers were one of the first I/O devices certified through this program," said Doc Parghi, senior vice president, Sales, AppLabs. "System integrators and IT professionals can now deploy Adaptec Series 5 RAID controllers with full confidence in their VMware ESX Server 3.x environments."
Adaptec currently offers the industry's most complete line of multi-port Unified Serial RAID controllers that support both SATA and SAS disk drives and offer connectivity to both the PCIe and PCI-X interconnect. The Adaptec Series 5 family of products that are VMware certified include seven RAID controllers, ranging from 4-port to 28-port, all with advanced RAID features. For more information, please visit http://www.adaptec.com/ or call 1-800-442-7274.
About Adaptec
Adaptec, Inc. provides trusted storage solutions that reliably move, manage, and protect critical data and digital content. Adaptec's software and hardware-based solutions are delivered through leading Original Equipment Manufacturers (OEMs) and channel partners to provide storage connectivity, data protection, and networked storage to enterprises, government organizations, medium and small businesses worldwide. More information is available at http://www.adaptec.com/.
About AppLabs:
AppLabs is the world's largest independent testing, quality management and certification solutions company. With over a decade of experience, AppLabs has become a trusted partner to more than 600 companies, providing both quality assurance and third-party validation. Customers include American Airlines, Royal Bank of Scotland, VISA, HP, Novell and SAP. AppLabs goes beyond technical expertise when it comes to IT services and offers customers rigorous risk mitigation processes, a singular focus on quality, expert project management, communication and global delivery capabilities. It is the first software testing company to get appraised at SEI CMMI Level 5, the highest quality standard attainable in software engineering. Headquartered in Philadelphia, the company maintains advanced testing facilities in the US, India and Europe. For more information, visit http://www.applabs.com/.
Adaptec is a registered trademark and Unified Serial is a trademark in the United States and other countries. Other product and company names are trademarks or registered trademarks of their respective owners.
Contact:
Andrew Staples
Walt & Company for Adaptec
408-369-7200 ext. 1056
astaples@walt.com
Peter Winicov
Winicov | PR
1-610-952-1369
pwinicov@comcast.net
Adaptec, Inc.
CONTACT: Andrew Staples of Walt & Company, +1-408-369-7200, ext. 1056, astaples@walt.com; or Peter Winicov of Winicov | PR, +1-610-952-1369, pwinicov@comcast.net, both for Adaptec, Inc.
Web site: http://www.adaptec.com/ http://www.applabs.com/
Live TV Debuts on Verizon Wireless Cell Phones in San Diego Thanks to Qualcomm Subsidiary MediaFLO USA- V CAST Mobile TV Now Available in San Diego -
SAN DIEGO and IRVINE, Calif., April 17 /PRNewswire-FirstCall/ -- Cell phone users in San Diego can now access live television programming on the go with MediaFLO USA's FLO TV(TM) service, which launched in San Diego today with Verizon Wireless as V CAST Mobile TV. A subsidiary of Qualcomm Incorporated, MediaFLO USA's FLO TV service lets Verizon Wireless subscribers watch many of their favorite television shows from the convenience of their cell phones, wherever and whenever they want.
"Qualcomm is committed to mobilizing an increasingly broad range of people's lives, starting with communications and now increasingly moving to entertainment and information access," said Dr. Paul E. Jacobs, CEO of Qualcomm. "Today marks a special milestone as we launch the revolutionary FLO TV service in San Diego -- the city that will be known as the birthplace of yet another defining mobile technology. With this launch of FLO TV, we are excited to provide San Diegans with the opportunity to experience the best of live TV on their mobile phones."
With MediaFLO USA's FLO TV service, V CAST Mobile TV subscribers can flip from one channel to the next to watch popular, full-length programming on select Verizon Wireless mobile phones. MediaFLO USA's dedicated multicast network brings top programming from some of the industry's best entertainment brands, including CBS, CBS College Sports, CBS News, Comedy Central, ESPN, FOX, FOX News, FOX Sports, MTV, NBC, NBC Sports, NBC News, CNBC, MSNBC, NickToons and Nickelodeon. V CAST Mobile TV subscribers also have exclusive access to two channels on the FLO TV service: MTV Tr3s and an ESPN Radio channel.
"We have defined the mobile TV experience in more than 50 markets nationwide, but today's San Diego launch marks a very special milestone for MediaFLO USA as we bring our award-winning FLO TV service to our hometown," said Gina Lombardi, president of MediaFLO USA. "With FLO TV, San Diegans can now enjoy a true mobile entertainment experience with a crisp, clear picture, superb audio quality and many of their favorite primetime shows, breaking news and sports."
"The FLO TV service offers a true high-quality television experience with a range of channels and great shows from which to choose," said John Palmer, regional president of Verizon Wireless. "Our San Diego customers can now carry their TVs with them in the palms of their hands and watch live television anytime, anywhere."
Since launching the FLO TV service on V CAST Mobile TV in March 2007, MediaFLO USA has delivered more than 2,500 hours of live sporting events, including college basketball, college football, men's professional basketball games, English Premier League soccer, MLS soccer, X Games, NASCAR Racing and tennis from the U.S. Open and Wimbledon. The FLO TV service offers an exciting new programming lineup that features some of the season's most compelling new shows, ranging from "Big Brother 9" (CBS Mobile) and "UnHitched" (FOX Mobile) to primetime favorites like "The Hills" (MTV), "Medium" (NBC 2Go) and "Prison Break" (FOX Mobile). The FLO TV service also comes with parental control features so that parents can monitor and restrict the programs their children view on V CAST Mobile TV.
San Diego-area Verizon Wireless customers can get hands-on demonstrations of the VCAST Mobile TV service at Verizon Wireless Communication Stores throughout the region. For more information, please visit the V CAST Mobile TV Web site at http://www.verizonwireless.com/mobiletv.
*Note that all programming is subject to change and based on service availability.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 65.7 million customers. Headquartered in Basking Ridge, N.J., with 69,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
About MediaFLO USA, Inc.
MediaFLO USA, Inc. unleashes the power of TV for mobile consumers, combining the best content, an intuitive user interface and a superior multicast network to deliver a true TV experience. The award-winning MediaFLO USA mobile entertainment service, called FLO TV, offers full-length simulcast and time-shifted programming from the world's best entertainment brands, including CBS, CBS College Sports, CBS News, Comedy Central, ESPN, FOX, FOX News, FOX Sports, MTV, NBC, NBC Sports, NBC News, CNBC, MSNBC, NickToons and Nickelodeon. Based in San Diego, Calif., MediaFLO USA is a wholly owned subsidiary of Qualcomm Incorporated. Further information is available at both http://www.mediaflousa.com/ and http://www.flotv.com/.
Qualcomm is a registered trademark of Qualcomm Incorporated. MediaFLO and FLO TV are trademarks of Qualcomm Incorporated. All other trademarks are the property of their respective owners.
Qualcomm Contacts:
Melinda Hutcheon, MediaFLO USA Inc.
Phone: 1-858-651-7334
Email: melindah@mediaflousa.com
Emily Kilpatrick, Corporate Communications
Phone: 1-858-845-5959
Email: corpcomm@qualcomm.com
John Gilbert, Investor Relations
Phone: 1-858-658-4813
Email: ir@qualcomm.com
Verizon Wireless contact:
Ken Muche, Public Relations
Phone: 1-949-286-8193
Email: ken.muche@verizonwireless.com
Qualcomm
CONTACT: Melinda Hutcheon, MediaFLO USA Inc., +1-858-651-7334, melindah@mediaflousa.com, or Emily Kilpatrick, Corporate Communications, +1-858-845-5959, corpcomm@qualcomm.com, or John Gilbert, Investor Relations, +1-858-658-4813, ir@qualcomm.com, all of Qualcomm; or Ken Muche, Public Relations of Verizon Wireless, +1-949-286-8193, ken.muche@verizonwireless.com
Web site: http://www.qualcomm.com/
Ron Peterson Joins Swapstream as Director, North America
CHICAGO and LONDON, April 17 /PRNewswire/ -- Swapstream, the market-leading multilateral electronic trading platform for interest rate swaps (IRS) and subsidiary of CME Group, today announced that Ron Peterson has joined the company as Director, Swapstream North America, working as part of the company's North American sales effort. Peterson will be based in New York, reporting to Will Evans, Swapstream's Chief Operating Officer, who is based in London.
"Ron will be a tremendous asset to Swapstream, and we are delighted to have him join our team as we expand our presence in North America," said Stephane Rio, Chief Executive Officer, Swapstream. "Ron has a deep understanding of the complexities of our markets, which will allow him to work with our customers to help them derive the greatest benefits from trading on our platforms. His experience will be invaluable as we move toward the launch of cleared swaps on our sPro(TM) platform later this year."
Peterson, 54, has more than 23 years of experience in the financial services industry. He joins Swapstream from Deutsche Bank Securities Inc. where he served as Director, Managing Listed Product Sales for the bank's prime brokerage group. Previously, he managed sales for the futures division at Deutsche and was a member of the bank's fixed income proprietary trading team. Prior to Deutsche, Peterson was at Goldman Sachs & Co for 10 years, working first in their fixed income strategies group for and later in proprietary trading.
Peterson earned a bachelor's degree in mathematics from City University of New York and master's degrees in economics and computer science, also from the City University of New York. He holds NASD Series 7, 63 and 3 licenses.
CME Swaps on Swapstream launched in a beta phase in March 2008 and are expected to go live in the second quarter of 2008. For more information on CME Swaps on Swapstream please visit http://www.cme.com/swaps or http://www.swapstream.com/ to learn more about connecting to Swapstream.
About Swapstream
Swapstream, a wholly-owned subsidiary of CME Group, is the first electronic platform designed specifically for trading interest rate swaps. Swapstream's platforms enable users to benefit from the efficiencies of electronic trading without sacrificing the flexibility of traditional voice trading. Swapstream also offers exclusive access to CME Swaps on Swapstream, the first centrally cleared OTC Interest Rate Swap available to all market participants, which will offer the benefits and financial safeguards of clearing through CME Clearing. CME Swaps on Swapstream combines access to deep OTC swap liquidity pools with efficiencies previously only available to exchange-traded products. Professional traders will have access to cost-effective interest rate swap trading in established, liquid markets, with the benefits of low-overhead straight-through processing.
About CME Group
CME Group (http://www.cmegroup.com/) is the world's largest and most diverse derivatives exchange. Formed by the 2007 merger of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT), CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on its trading floors. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, agricultural commodities, and alternative investment products such as weather and real estate. CME Group is traded on the New York Stock Exchange and NASDAQ under the symbol "CME."
Swapstream
CONTACT: Jeremy Hughes, +44-207-796-7112, or Pamela Plehn, +1-312-930-3446, both for Swapstream
Web site: http://www.swapstream.com/ http://www.cme.com/
CTG Announces 2008 First Quarter Conference Call and Webcast Information
BUFFALO, N.Y., April 17 /PRNewswire-FirstCall/ -- CTG , an international information technology (IT) solutions and staffing company, today announced that it would release its 2008 first quarter financial results on April 23, 2008 after the market closes. The company will hold a conference call to discuss its financial results and business strategy on Thursday, April 24, 2008 at 10:00 a.m. Eastern Time. CTG Chairman and Chief Executive Officer James R. Boldt will lead the call. Interested parties can dial in to 1-800-288-9626 between 9:45 a.m. and 9:50 a.m., ask for the CTG conference call, and identify James Boldt as the conference chairperson. A replay of the call will be available between 12:00 p.m. Eastern Time April 24, 2008 and 11:00 p.m. Eastern Time April 27, 2008 by dialing 1-800-475-6701 and entering the conference ID number 899688.
A webcast of the call will also be available on CTG's web site: http://www.ctg.com/. You must have Windows Media Player or RealPlayer's audio software on your computer to listen to the webcast. Both are available for downloading at no charge when accessing the webcast. The webcast will also be archived on CTG's web site at http://investor.ctg.com/events.cfm for 90 days following completion of the conference call.
Backed by over 40 years' experience, CTG provides IT solutions and staffing to help Global 2000 clients focus on their core businesses and use IT as a competitive advantage to excel in their markets. CTG combines in-depth understanding of our clients' businesses with a full range of integrated services and proprietary ISO 9001:2000-certified service methodologies. Our IT professionals based in an international network of offices in North America and Europe have a proven track record of delivering solutions that work. More information about CTG is available on the Web at http://www.ctg.com/.
Today's news release, along with CTG news releases for the past year, is available on the Web at http://www.ctg.com/.
CONTACT:
Jo Ann Rice
(716) 887-7244
joann.rice@ctg.com
CTG
CONTACT: Jo Ann Rice of CTG, +1-716-887-7244, joann.rice@ctg.com
Web site: http://www.ctg.com/
Company News On-Call: http://www.prnewswire.com/comp/198025.html
Verizon Wireless Makes it Easy for New Yorkers to Make Everyday Earth DayPartners with Macy's, NYC Department of Sanitation and Grassroots Organizations to Boost Phone Recycling Collections; Encourages Residents to Recycle Year-Round
ORANGEBURG, N.Y., April 17 /PRNewswire/ -- According to the U. S. Environmental Protection Agency, approximately 130 million cell phones will be retired this year and fewer than 20 percent of those phones will be recycled. Verizon Wireless, the first wireless carrier in the nation to collect and recycle old cell phones, wants to boost that percentage by making it easier than ever for residents and businesses to recycle no-longer-used wireless phones.
Through its HopeLine(R) phone recycling program, the company collects old wireless phones and gives them a second life. The phones are refurbished, recycled or sold and the proceeds are donated to domestic violence advocacy groups or used to purchase wireless phones and service for survivors. Phones that cannot be refurbished are disposed of in an environmentally friendly manner.
In celebration of Earth Day, grassroots organizations, elected officials, the New York City Department of Sanitation and retail giant Macy's have joined Verizon Wireless to hold HopeLine phone recycling drives during April, accepting phones at various events and locations throughout the region.
-- Macy's is collecting phones in the women's department and in its store
managers' offices in 160 locations in the Northeast. For a store near
you, visit macys.com and use the store locations option.
-- In Queens, State Senator Frank Padavan is collecting phones at his
district offices located at 89-39 Gettysburg Street, Bellerose, NY and
150-26 14th Avenue in Whitestone. Bellerose office hours are from 9am
to 5pm, Monday thru Friday. Whitestone office hours are from 9am to
1pm, Monday thru Friday. For more information constituents can call
718-343-0255 or 718-746-2550.
-- The New York City Department of Sanitation's Bureau of Waste
Prevention, Reuse and Recycling is partnering with Verizon Wireless at
its annual Electronics Recycling and Clothing Donation events this
spring. The agency already has held collections in Manhattan, the
Bronx and Staten Island and will hold similar events in Queens and
Brooklyn in the coming weeks. To date nearly 9,000 people have
recycled more than 900 pounds of phones. For more information and
locations visit http://www.nyc.gov/wasteless.
-- The Environmental Conference by the African American Men of Westchester
held its first HopeLine drive on April 11 and will continue to collect
phones at the Theodore Young Community Center, 32 Manhattan Avenue and
at the White Plains Housing Authority, 223 Dr. Martin Luther King Jr.
Boulevard in White Plains throughout the month.
HopeLine accepts wireless phones and accessories in any condition from any manufacturer or service provider for reuse and recycling.
"HopeLine was created more than 10 years ago as a means for Verizon Wireless to put its products and services to work to help survivors of domestic violence and help the environment at the same time," said Pat Devlin, president of Verizon Wireless' New York Metro Region. "Locally, HopeLine's direct and in-kind donations total nearly $900,000 including more than $150,000 to the New York City Family Justice Center Initiative."
Verizon Wireless makes it easy for anyone to hold a phone collection drive in their local community, school or workplace. The company supplies collection boxes, posters, brochures and more free-of-charge to individuals and organizations interested helping save the environment and possibly save the life of a domestic violence victim. For more information e-mail hopelinecontactus@verizonwireless.com.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 65.7 million customers. The largest U.S. wireless company and largest wireless data provider, based on revenues, Verizon Wireless is headquartered in Basking Ridge, NJ, with 69,000 employees nationwide. The company is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). Find more information on the Web at http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
Verizon Wireless
CONTACT: David Samberg of Verizon, +1-845-365-7212, David.samberg@verizonwireless.com; or Kim Ancin for Verizon, +1-845-429-3839, Kimberly.ancin@vivianipr.com
Web site: http://www.verizonwireless.com/ http://www.nyc.gov/wasteless http://www.macys.com/
012 Smile.Communications Ltd Announces That it has Been Notified of a Proposed Class Action Lawsuit With Respect to its International Calling Cards
PETACH TIKVA, Israel, April 17 /PRNewswire-FirstCall/ -- 012 Smile.Communications , a growth-oriented provider of communication services in Israel, today announced that it received a monetary claim, and an application for permission to file it as a class action lawsuit against the company, as well as two other international telephony companies, Bezeq International Ltd. and Netvision 013 Barak Ltd, in the Tel-Aviv District Court.
The claim was filed by seven citizens of The Philippines that are employed in Israel, who claim to have used the international calling cards of 012 Smile.Communications, Bezeq International Ltd. and Netvision 013 Barak Ltd, to call abroad.
The purported plaintiffs claim that the calling cards provide an average of 50% of the units of time indicated to the purchasers of the cards. They also allege that the three international telephony companies deduct the time spent when unsuccessfully attempting to call someone from the card, calculate and collect payment not by units of round minutes as indicated, provide misleading information about the number of "units" on the card and together formed a cartel that arranged and raised the prices of calling cards.
The purported plaintiffs seek court permission to file the claim as a class action lawsuit by virtue of Israel's Class Actions Law, on behalf of groups of people that include anyone who purchased calling cards distributed by one of three international telephony companies for use in calls to The Philippines, during the seven year period prior to filing the claim or during the proceedings themselves. The purported plaintiffs claim that the damages caused to all members of the purported class total approximately 400 million shekels, of which, they estimate that approximately 80 million shekels of damages were attributable to the company's calling cards. The purported plaintiffs also claim damages of approximately 9 million shekels as a result of the alleged actions by the three international telephony companies, 012 Smile.Communications Bezeq International Ltd. and Netvision 013 Barak Ltd as a cartel.
The company has not had an opportunity to review the claims with its counsel and is unable to provide any comments at this time.
About 012 Smile.Communications
012 Smile.Communications is a growth-oriented communication services provider in Israel with a leading market position, offering a wide range of broadband and traditional voice services. Its broadband services include broadband Internet access with a suite of value-added services, specialized data services and server hosting, as well as new innovative services such as local telephony via voice over broadband and a WiFi network of hotspots across Israel. Traditional voice services include outgoing and incoming international telephony, hubbing, roaming and signaling and calling card services. 012 Smile.Communications services residential and business customers, as well as Israeli cellular operators and international communication services providers through its integrated multipurpose network, which allows it to provide services to almost all of the homes and businesses in Israel.
012 Smile is a 72.4 % owned subsidiary of Internet Gold Golden Lines Ltd. one of Israel's leading communications groups with a major presence across all Internet-related sectors. In addition to 012 Smile, its 100% owned Smile.Media subsidiary manages a growing portfolio of Internet portals and e-Commerce sites. Internet Gold and 012 Smile are part of the Eurocom Communications Group. 012 Smile's shares trade on the NASDAQ Global Market and on the Tel Aviv Stock Exchange.
For additional information about 012 Smile.Communications Ltd., please visit the Company's investors' site at http://www.012.net/.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the industry, changes in the regulatory and legal compliance environments, the failure to manage growth and other risks detailed from time to time in 012 Smile.Communications' filings with the Securities Exchange Commission. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.
For further information, please contact:
Ms. Idit Azulay
012 Smile.Communications Ltd
+972-72-2003848
i.azulay@smile.net.il
012 Smile.communications Ltd.
CONTACT: For further information, please contact: Ms. Idit Azulay, 012 Smile.Communications Ltd, +972-72-2003848, i.azulay@smile.net.il
RDM announces RDM SYNERGY II all in one payment terminal
LAS VEGAS, April 17 /PRNewswire-FirstCall/ -- RDM Corporation (TSX: RC), a leading developer of specialized software and hardware products for electronic payment processing and Remote Deposit Capture (RDC) solutions, announced today the release of RDM SYNERGY II, the second generation of RDM's all-in-one payment terminal, now fully featured with dual sided imaging capabilities for a complete Check 21 solution.
RDM's strength has always been our commitment to our customers, delivering quality products and solutions which meet their evolving needs," said Douglas Newman, President and Chief Executive Officer of RDM. "RDM SYNERGY II utilizes our core competencies of image and MICR expertise, combining it with the quality features of double sided imaging and best of market software applications. RDM SYNERGY does not require a PC. RDM SYNERGY II is a true plug and play, low cost, high value-add payment terminal."
RDM SYNERGY II is a versatile, feature-rich, all-in-one POS payment solution. Utilizing RDM's industry leading and proprietary Progressive MICR Method and imaging technology, RDM SYNERGY II is ideal for Electronic Check Conversion (ECC), Check 21 transactions, as well as credit, debit, EBT and loyalty cards. Standard on RDM SYNERGY II is a magnetic stripe reader, graphic display, 20-key pad, franking acknowledgement, multiple application support, thermal printer, Ethernet and modem communication options and a powerful processor, making RDM SYNERGY II a perfect payment platform for POP, ARC, Check 21, and bill payment applications. Built upon RDM's extensive experience in the payment automation industry combined with field proven imaging technology, RDM SYNERGY II is designed to meet the changing needs of the POS environment.
About RDM Corporation
RDM Corporation is headquartered in Waterloo, Ontario and trades on the Toronto Stock Exchange under the symbol RC. RDM is a leading provider of specialized software and hardware products for electronic payment processing and RDM has pioneered electronic check conversion systems and web based image and transaction management services for banks, retailers, payment processors and government agencies as well as print quality control and image quality systems for a variety of global customers. For further information, visit RDM's website at http://www.rdmcorp.com/.
RDM Corporation
CONTACT: Douglas Newman, President & CEO, RDM Corporation, (519) 746-8483 phone, (519) 746-3317, dnewman@rdmcorp.com; Jim Merwin, Chief Financial Officer, RDM Corporation, (519) 746-8483 phone, (519) 746-3317 fax, jmerwin@rdmcorp.com
Cimatron Brings Mold Making Solutions That Enable Faster Delivery to MoldMaking Expo 2008Advanced CAD/CAM and Concurrent Engineering Capabilities Proven to Shorten Cycle Times
GIVAT SHMUEL, Israel, April 17 /PRNewswire-FirstCall/ -- Visitors to the upcoming MoldMaking Expo tradeshow (April 23 - 24, 2008, Novi, Michigan) will be able to see Cimatron's suite of integrated CAD/CAM solutions that are proven to help mold makers deliver higher quality tools at lower costs and shorter cycle times.
Cimatron's CAD/CAM solutions address the entire process-from quoting through design, engineering changes, NC, and EDM programming to delivery. On display at the show will be Cimatron's solution for concurrent design and manufacturing, as well as exciting CAD/CAM enhancements recently released by Cimatron.
Concurrent Engineering Cimatron's concurrent engineering capabilities improve productivity and collaboration and significantly compress product delivery times.
Concurrent design capabilities are built into Cimatron's CAD applications, enabling multiple users to simultaneously work on the same assembly and shortening the design cycle. Starting with the new release of CimatronE version 8.5, these concurrent design capabilities are available throughout the entire CAD product line.
Cimatron's support for concurrent engineering extends beyond the design phase. The integrated end-to-end design-to-manufacturing solution uses a single database that provides complete associatively and enables multiple steps of the design and manufacturing process to be performed in parallel.
These concurrent engineering capabilities and more will be demonstrated at Cimatron's booth #323 at the 2008 MoldMaking Expo.
"Looking at design and manufacturing as an integrated process can help mold makers accelerate delivery times and improve product quality," said Bill Gibbs, CEO and President, Cimatron Technologies, Inc. "We are excited to share with MoldMaking Expo attendees these solutions for success."
Also on display at the show will be new capabilities recently released in CimatronE version 8.5. These include modified NC reports, enhancements to the Automated Drill application, spiral cut milling and 3-5 Axis transformations in 5-Axis Production, and integrated CADENAS catalogs.
Streamlined Numerical Control:
Modified NC Setup Reports: Automatically-generated NC reports facilitate the information flow between NC programmers and the shop floor, providing machine operators with detailed information that includes the tool paths, procedures, tools, and parameters for each job. Images and user-specific information can be added to the reports, which can be presented either online or in print.
Automated Drill: New operations added to the Automated Drill application include profiling of holes and threading cycles, as well as pocketing for pre-drill preparation of difficult to drill areas such as slanted surfaces. These operations can be integrated into the automated drill sequence and reused from libraries to increase efficiency and accuracy.
5-Axis Production: CimatronE version 8.5 features new enhancements to the 5-Axis Production application, including spiral cut milling, 3-5 Axis transformations, and advances in impeller roughing.
Integrated CADENAS Catalogs
CADENAS PARTsolutions is now integrated into CimatronE 8.5, enabling mold makers to shorten design cycles by incorporating ready-made CADENAS catalog parts into Cimatron tool assemblies.
While the catalog functionality has long been available in Cimatron's software, the CADENAS catalogs place thousands of new standard components at the disposal of Cimatron users, eliminating many of the manual and time-consuming steps in the tool design process.
Visit Cimatron at the MoldMaking Expo, April 23- 24, 2008
Rock Financial Showplace
Booth #323
About Cimatron
With more than 25 years of experience and over 20,000 installations worldwide, Cimatron is a leading provider of integrated, CAD/CAM solutions for mold, tool and die makers as well as manufacturers of discrete parts. Cimatron is committed to providing comprehensive, cost-effective solutions that streamline manufacturing cycles, enable collaboration with outside vendors, and ultimately shorten product delivery time. Cimatron's cutting-edge CAD/CAM solutions are widely used in the automotive, medical, consumer plastics, electronics, and other industries. For more information, please visit http://www.cimatron.com/
Founded in 1982, Cimatron is publicly traded on the NASDAQ exchange under the symbol CIMT. Cimatron's subsidiaries and extensive distributor network are located in over 35 countries to serve customers worldwide with complete pre- and post-sales support. For more information, please visit http://www.cimatron.com/.
This press release includes forward looking statements, within the meaning of the Private Securities Litigation Reform Act Of 1995, which are subject to risk and uncertainties that could cause actual results to differ materially from those anticipated. Such statements may relate to the company's plans, objectives and expected financial and operating results. The words "may," "could," "would," "will," "believe," "anticipate," "estimate," "expect," "intend," "plan," and similar expressions or variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of the future performance and involve risks and uncertainties, many of which are beyond the company's ability to control. The risks and uncertainties that may affect forward looking statements include, but are not limited to: currency fluctuations, global economic and political conditions, marketing demand for Cimatron products and services, long sales cycle, new product development, assimilating future acquisitions, maintaining relationships with customers and partners, and increased competition. For more details about the risks and uncertainties of the business, refer to the Company's filings with the Securities and Exchanges Commission. The company cannot assess the impact of or the extent to which any single factor or risk, or combination of them, may cause. Cimatron undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
For More Information Contact:
Lisa Sterling
Director of Marketing
Cimatron Technologies, Inc.
Phone: +1-248-596-9700 ext. 224
Email: lsterling@cimatrontech.com
Cimatron Ltd
CONTACT: For More Information Contact: Lisa Sterling, Director of Marketing, Cimatron Technologies, Inc., Phone: +1-248-596-9700 ext. 224, Email: lsterling@cimatrontech.com
Consumers in 73 More Massachusetts Communities Now Can Get Verizon's Fastest DSL-Based Internet Service300,000 More Bay State Customers Can Combine High Speed Internet Service With Voice, Video Services for Excellent Value, Added Savings
BOSTON, April 17 /PRNewswire/ -- Qualifying consumers in 73 more Massachusetts communities now have a new broadband option from Verizon, as the company continues to roll out its ultra-fast High Speed Internet service. It more than doubles the download speed of Verizon's current fastest digital subscriber line, or DSL, service and provides an appealing alternative to cable Internet.
The new Verizon High Speed Internet service offers qualified customers a downstream connection speed of up to 7 megabits per second (Mbps) for as low as $39.99 a month when ordered with an annual service plan.
In February, Verizon announced a $200 million investment in broadband expansion in Massachusetts, including the launch of the company's ultra-fast High Speed Internet service in 24 central and western Massachusetts communities. Verizon is now announcing an expansion of the service, making it available to more than 300,000 households and small businesses in 97 Massachusetts communities (see list below).
"Verizon 7 Megabit High Speed Internet is the way to go for qualifying residents in Massachusetts who are looking for a better alternative to high-priced cable Internet," said Bob Driscoll, Verizon's vice president of sales and marketing in New England. "Our super-fast DSL provides all the speed you need for everything you do online -- and at a reasonable cost. From digital music and streaming video to photo sharing and online gaming, to video conferencing and working from home -- it's faster, easier and more affordable with Verizon High Speed Internet."
Consumers can get more information of service availability, pricing and features by calling 877-483-5898 or visiting verizon.com/superspeed.
Bundled Services Bring It All Together for Customers
Verizon customers can bundle Verizon High Speed Internet service with a Verizon Freedom calling plan and all-digital FiOS TV or DIRECTV service, giving them unlimited calling, high-speed Internet access, and in-home video service for additional savings -- all on one bill from a name they trust. With ONE-BILL service, customers can even add their Verizon Wireless account to their bill for added convenience.
About Verizon High Speed Internet
Verizon High Speed Internet service is delivered on a dedicated line from Verizon's central office to the customer's home and is backed by live, 24 x 7 customer service and technical support. High Speed Internet subscribers have access to an extensive collection of features and services, including:
-- Online protection with Verizon Internet Security Suite: In one
download, this comprehensive online protection suite provides
anti-spyware, anti-virus, firewall, parental control, pop-up blocker
and privacy manager protection that run continuously behind the
scene. The suite automatically updates every three hours. Just set
it and forget it. The cost is just $4.99 a month for use on up to
three household computers.
-- Verizon Enhanced Email: Expanded storage capacity -- up to 4
gigabytes -- lets customers store as much mail as they want for as
long as they want on Verizon servers. Anywhere access -- from your
mobile phone to your home e-mail account -- is easy with select Get
It Now-enabled phones from Verizon Wireless. Users can sign up for
a complimentary rich Internet e-mail application to better organize
their messages and contacts and send attachments of up to 25
megabytes.
-- Verizon Premium Tech Support: A unique service that provides expert
one-on-one assistance for a wide variety of issues like spyware,
adware, viruses, hardware problems, computer operating systems and
other issues not typically covered by Internet service providers.
The service supports routers, network cards, video cards, sound
cards, CD/DVD reader-writer, hard drives, flash memory systems,
printers, scanners, gaming consoles, firewalls and more. The cost
is $14.99 a month.
-- Online gaming from Verizon: Play hundreds of the most popular PC
games for free with Verizon Arcade, or choose from a variety of
Verizon Games on Demand packages, including Family Place, a package
that features more than 400 family-friendly casual games for just
$7.99 a month.
-- Free entertainment for children of all ages with Disney Connection:
From activities, games and classic cartoons to movie previews, music
videos and more, Disney Connection provides age-appropriate content
for preschoolers, kids, teens and Disney enthusiasts. The content
includes access to Playhouse Disney Preschool Time Online and Disney
Game Kingdom Online.
-- Free news from ABC News Now: A 24-hour news and information channel,
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Verizon High Speed Internet and DIRECTV from Verizon enjoy the added
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The online service can be accessed anywhere in the world through any
broadband connected computer.
[Verizon's ultra-fast High Speed Internet service is available in Acushnet, Adams, Ashfield, Assonet, Athol, Attleboro, Auburn, Bass River, Bedford, Berlin, Bernardston, Bolton, Boylston, Brighton, Brimfield, Brockton, Bryantville, Cataumet, Charlemont, Chelmsford, Chelsea, Chester, Chesterfield, Clinton, Conway, Dighton, East Longmeadow, Falmouth, Fitchburg, Gardner, Gilbertville, Granville, Greendale, Hamilton, Hampden, Hanover, Harvard, Hatfield, Haverhill, Holden, Holliston, Holyoke, Hubbardston, Hudson, Huntington, Littleton, Longmeadow, Malden, Mansfield, Marblehead, Medfield, Millers Fall, Milton, Montague, Natick, New Bedford, North Attleboro, North Reading, Northfield, Norton, Oakham, Otis, Oxford, Petersham, Quincy, Randolph, Rehoboth, Revere, Rochester, Rockland, Rockport, Rowley, Roxbury, Russell, Rutland, Saugus, Shelburne Falls, Siasconset, Southwick, Spencer, Stockbridge, Topsfield, Townsend, Turner's Falls, Walpole, Waltham, Ware, Watertown, Wayland, Webster, Wellfleet, West Stockbridge, Westford, Weymouth, Whitinsville, Winthrop and Worcester.]
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: Phil Santoro of Verizon, +1-617-743-4760, philip.g.santoro@verizon.com
Web site: http://www.verizon.com/superspeed http://www.verizon.com/ http://www.verizon.com/news
Company News On-Call: http://www.prnewswire.com/comp/618232.html
LanOptics Schedules First Quarter 2008 Results Release and Conference Call for Monday, May 5, 2008Conference Call to be Webcast Live on May 5, 2008 at 10:00am ET
YOKNEAM, Israel, April 17 /PRNewswire-FirstCall/ -- LanOptics Ltd. , a provider of network processors, today announced that it will be releasing its first quarter 2008 results on Monday, May 5, 2008 before US markets open.
The Company will be hosting a conference call later that same day at 10:00am ET (7:00am PT; 3:00pm UK Time; 5:00pm Israel Time). On the call, management will review and discuss the results, and will be available to answer investor questions.
Live Webcast
The conference will be broadcast live from a link at http://www.ezchip.com/. To participate, please access the website at least 10 minutes before the conference call commences.
Dial - In
To participate through dial-in, please call one of the following teleconferencing numbers. Please begin placing your calls at least 15 minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.
US Dial-in Number: 1-888-935-4577;
International Dial-in Number (US): +1-718-354-1388;
Israel Dial-in Number: 1-809-246-002;
Replay
For those unable to listen to the live call, a replay of the call will be available the day after the call under the investor relations section of the website.
About LanOptics
LanOptics' business consists exclusively of the business of EZchip, a company that is engaged in the development and marketing of Ethernet network processors for networking equipment. EZchip provides its customers with solutions that scale from 1-Gigabit to 100-Gigabits per second with a common architecture and software across all products. EZchip's network processors provide the flexibility and integration that enable triple-play data, voice and video services in systems that make up the new Carrier Ethernet networks. Flexibility and integration make EZchip's solutions ideal for building systems for a wide range of applications in telecom networks, enterprise backbones and data centers. For more information on LanOptics and EZchip, visit the web site at http://www.ezchip.com/.
Contact:
Ehud Helft / Fiona Darmon
CCGK Investor Relations
info@gkir.com
Tel: (US) +1-646-797-2868 / +1-646-201-9246
LanOptics Ltd.
CONTACT: Contact: Ehud Helft / Fiona Darmon, CCGK Investor Relations, info@gkir.com, Tel: (US) +1-646-797-2868 / +1-646-201-9246
Nanophase Technologies Announces First Quarter 2008 Earnings Release and Conference Call Schedule
ROMEOVILLE, Ill., April 17 /PRNewswire-FirstCall/ -- Nanophase Technologies , a technology leader in nanomaterials and advanced nanoengineered products, announced that the Company plans to release earnings for the first quarter of 2008 on April 24 at approximately 3:00 PM CDT, 4:00 PM EDT. Nanophase has scheduled its quarterly conference call for April 24 at 4:00 PM CDT, 5:00 PM EDT, which will be hosted by Joseph Cross, president and CEO, and Jess Jankowski, CFO.
The call may be accessed through the Company's website, http://www.nanophase.com/, by clicking on the link under Investor Relations and Calendar of Events. If you are unable to attend, a replay will be available through May 1, 2008 by dialing 706-645-9291 and entering code 44233587, or by logging onto the Company's website and following the above directions.
Nanophase Technologies Corporation (NANX), http://www.nanophase.com/, is a leader in nanomaterials technologies and provides nanoengineered solutions for multiple industrial product applications. Using a platform of patented and proprietary integrated nanomaterial technologies, the Company creates products with unique performance attributes from two ISO 9001:2000 and ISO 14001 facilities. Nanophase delivers commercial quantity and quality nanoparticles, coated nanoparticles, and nanoparticle dispersions in a variety of media. The Company owns or licenses 18 United States and 49 foreign patents and patent applications. Information about Nanophase may be found in the Company's public filings or on its website.
This press release contains words such as "expects", "shall", "will", "believes" and similar expressions that are intended to identify forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such statements in this announcement are made based on the Company's current beliefs, known events and circumstances at the time of publication, and as such, are subject in the future to unforeseen risks and uncertainties that could cause the Company's results of operations, performance and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. These risk and uncertainties include the following: a decision by a customer to cancel a purchase order or supply agreement in light of the Company's dependence on a limited number of key customers; uncertain demand for, and acceptance of, the Company's nanocrystalline materials; the Company's manufacturing capacity and product mix flexibility in light of customer demand; the Company's limited marketing experience; changes in development and distribution relationships; the impact of competitive products and technologies; the Company's dependence on patents and protection of proprietary information; the resolution of litigation in which the Company may become involved; and other risks described in the Company's Form 10K filed March 14, 2007, and other filings with the Securities and Exchange Commission. In addition, the Company's forward-looking statements could be affected by general industry and market conditions and growth rates. Except as required by federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties or other contingencies.
Nanophase Technologies
CONTACT: Joseph Cross, President, CEO, +1-630-771-6705, or Jess Jankowski, VP, CFO, +1-630-771-6702, or Nancy Baldwin, Investor Relations, +1-630-771-6707, all of Nanophase Technologies
Web site: http://www.nanophase.com/
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