Companies news of 2008-04-22 (page 1)
LogicVision Reports First Quarter Financial ResultsOne Year Backlog Increases to $10.1M;...
Broadcom Reports First Quarter 2008 ResultsConference Call to be Webcast Today at 1:45...
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LogicVision Reports First Quarter Financial ResultsOne Year Backlog Increases to $10.1M; Q1 Bookings Second Highest in Company History
SAN JOSE, Calif., April 22 /PRNewswire-FirstCall/ -- LogicVision, Inc. , a leading provider of test and yield learning solutions, today announced its financial results for the first quarter of 2008, ended March 31, 2008.
First Quarter 2008 Results
Revenues in the first quarter of 2008 were $3.0 million, compared with $2.9 million in the fourth quarter of 2007.
Net loss in the first quarter of 2008 was $1.3 million, or $0.13 per share, compared with a net loss of $700,000, or $0.07 per share, reported in the fourth quarter of 2007. The per share data has been adjusted to reflect the 1-for-2.5 reverse stock split that became effective March 12, 2008.
Gross margins in the first quarter were 72 percent, compared with 71 percent in fourth quarter of 2007.
Operating expenses were $3.4 million in the first quarter, including $177,000 of stock-based employee compensation charges in accordance with SFAS 123( R ). This compares with $2.8 million of operating expenses in the fourth quarter of 2007, including $143,000 of stock-based employee compensation charges in accordance with SFAS 123( R ). First quarter 2008 operating expenses included higher selling expenses associated with new orders received in the first quarter in advance of revenue recognition.
At March 31, 2008 LogicVision had $7.4 million in cash, cash equivalents and investments, compared with $8.3 million at December 31, 2007. The company has no outstanding bank debt.
New orders received during the first quarter totaled $10.5 million, the second highest bookings in the company's history. The company exited the first quarter with a 12-month backlog of $10.1 million, compared with a 12-month backlog of $8.7 million at the end of the fourth quarter.
"In the first quarter, revenues were within our guidance range, bookings were the second highest in the Company's history and our 12-month backlog increased to more than $10 million," said James T. Healy, president and CEO of LogicVision. "New orders received during the quarter were very good; however, our first quarter cash balance was below our guidance and our net operating loss was more than our guidance primarily due to higher expenses associated with first quarter new orders, which were not factored into our previous guidance.
"We recently signed a contract extension with a major customer and added new customers that could potentially grow into bigger accounts, all of which contributed to our solid first quarter bookings. There are a variety of market trends that are increasing the need for our Built-In-Self-Test (BIST) solutions. For example, integrated circuit (IC) designers are under intense pressure to decrease the cost of their components in order to increase profits. This reduction in cost-per-function is driving companies to use higher gate densities, resulting in the fast growth of submicron design starts. At the same time, companies are demanding higher quality ICs in order to avoid the impact of warranty costs and help ensure market success. As a result, we are seeing companies that historically have had internal BIST technologies begin to transition from a 'make' to a 'buy' decision. As the only viable commercial BIST supplier for logic in the market today, LogicVision is well positioned to capitalize on these trends. We believe we are on track to record solid year-over-year revenue growth," said Mr. Healy.
Guidance for the Second Quarter of 2008
-- Revenues are expected to be in the range of $3.0 million to
$3.2 million.
-- Net loss is expected to be in the range of $800,000 to $1.0 million, or
a net loss in the range of $0.08 to $0.10 per share.
-- Cash, cash equivalents and investments are expected to be between
approximately $6.0 million and $7.0 million at the end of the second
quarter.
Conference Call
LogicVision will broadcast its conference call discussion of first quarter of 2008 financial results today, April 22, 2008 at 2 p.m. Pacific time. To listen to the call, please dial 800-988-0490, pass code: "LogicVision." A taped replay will be made available approximately one hour after the conclusion of the call and will remain available for one week. To access the replay, dial 203-369-0237. The LogicVision financial results conference call will be available via a live web cast on the investor relations section of the company's web site at http://www.logicvision.com/. An archived web cast of the call will be available at http://www.logicvision.com/ for one year.
About LogicVision, Inc.
LogicVision provides proprietary technologies for embedded test and yield learning that enable more efficient manufacturing test of complex semiconductors. LogicVision's embedded test solutions allow integrated circuit designers to embed test functionality into a semiconductor design that is used during semiconductor production test and throughout the useful life of the chip. The company's advanced Design for Test (DFT) product line, ETCreate, works together with Silicon Insight applications and Yield Insight to improve profit margins by reducing device field returns and test costs, accelerating silicon bring-up times and shortening both time to market and time to yield. For more information on the company and its products, please visit the LogicVision website at http://www.logicvision.com/.
FORWARD LOOKING STATEMENTS
Except for the historical information contained herein, the matters set forth in this press release, including statements as to the Company's outlook, expectations of customer renewals, the Company's ability to obtain purchase orders from new customers, new customer expansion in use of the Company's products, and increases in the adoption of the Company's products by existing customers, interest in the Company's products, trends in capital spending in the semiconductor industry, the Company's expected financial results, including revenues, net loss, and cash, cash equivalents and investments and the Company's ability to achieve positive cash flow and profitability are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, including, but not limited to, the possibility that orders could be modified or cancelled, existing customer orders may not be renewed, existing customers may not expand their use of the Company's products or increase their adoption of the Company's products, new customers may not adopt or expand their use of the Company's products, the ability of the Company to negotiate and sign customer agreements and obtain purchase orders, trends in capital spending in the semiconductor industry, the timing and nature of customer orders, whether customers accept the Company's new and existing products, the impact of competitive products and alternative technological advances, and other risks detailed in LogicVision's Annual Report on Form 10-K for the year ended December 31, 2007 and from time to time in LogicVision's SEC reports. These forward-looking statements speak only as of the date hereof. LogicVision disclaims any obligation to update these forward-looking statements.
LogicVision, Embedded Test and LogicVision logos are trademarks or registered trademarks of LogicVision, Inc. in the United States and other countries. All other trademarks and service marks are the property of their respective owners.
- Summary financial data follows -
LOGICVISION, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)
March 31, December 31,
2008 2007
ASSETS
Current Assets:
Cash and cash equivalents $5,600 $6,783
Short-term investments 1,826 1,544
Accounts receivable, net of allowance
for doubtful accounts of $11 and $20,
respectively 1,138 996
Prepaid expenses and other current assets 1,278 1,345
Total current assets 9,842 10,668
Property and equipment, net 454 510
Goodwill 6,846 6,846
Other long-term assets, net 230 239
Total assets $17,372 $18,263
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable $441 $413
Accrued liabilities 1,468 2,015
Deferred revenue, current portion 7,083 5,859
Total current liabilities 8,992 8,287
Deferred revenue 99 605
Other long-term liabilities 151 165
Total liabilities 9,242 9,057
Commitments and contingencies (See Note 5)
Stockholders' Equity:
Preferred stock, $0.0001 par value:
Authorized: 5,000,000 shares;
Issued and outstanding:
no shares issued and outstanding - -
Common stock, $0.0001 par value:
Authorized: 50,000,000 shares;
Issued and outstanding: 9,679,000 shares
at March 31, 2008 and 9,666,000 shares
at December 31, 2007 1 1
Additional paid-in capital 109,118 108,921
Accumulated other comprehensive income 62 68
Accumulated deficit (101,051) (99,784)
Total stockholders' equity 8,130 9,206
Total liabilities and stockholders' equity $17,372 $18,263
Note: All share and per share data has been adjusted to reflect the 1-for-2.5 reverse stock split which became effective March 12, 2008.
LOGICVISION, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three Months Ended
March 31,
2008 2007
Revenues:
License $1,384 $1,105
Service 1,586 1,525
Total revenues 2,970 2,630
Cost of revenues:
License 176 231
Service 655 523
Total cost of revenues 831 754
Gross profit 2,139 1,876
Operating expenses:
Research and development 1,008 955
Sales and marketing 1,506 1,301
General and administrative 894 912
Total operating expenses 3,408 3,168
Loss from operations (1,269) (1,292)
Interest and other income, net 18 105
Loss before provision for income taxes (1,251) (1,187)
Income tax provision 15 16
Net loss $(1,266) $(1,203)
Net loss per common share, basic and diluted $(0.13) $(0.12)
Weighted average number of shares outstanding,
basic and diluted 9,674 9,643
Note: All share and per share data has been adjusted to reflect the 1-for-2.5 reverse stock split which became effective March 12, 2008.
LogicVision, Inc.
CONTACT: Bruce M. Jaffe, Vice President & CFO, LogicVision, Inc., +1-408-453-0146, InvestorRelations@logicvision.com
Web site: http://www.logicvision.com/
Broadcom Reports First Quarter 2008 ResultsConference Call to be Webcast Today at 1:45 p.m. Pacific Time
IRVINE, Calif., April 22 /PRNewswire-FirstCall/ -- Broadcom Corporation today reported unaudited financial results for its first quarter ended March 31, 2008.
Net revenue for the first quarter of 2008 was $1.032 billion, an increase of 0.5% compared with the $1.027 million reported for the fourth quarter of 2007 and an increase of 14.5% compared with the $901.5 million reported for the first quarter of 2007. Net income computed in accordance with U.S. generally accepted accounting principles (GAAP) for the first quarter of 2008 was $74.3 million, or $.14 per share (diluted), compared with GAAP net income of $90.3 million, or $.16 per share (diluted), for the fourth quarter of 2007, and GAAP net income of $61.0 million, or $.10 per share (diluted), for the first quarter of 2007.
Net revenue for the first quarter of 2008 and fourth quarter of 2007 included royalties of $35.6 million and $31.8 million, respectively, received pursuant to a patent license agreement entered into in July 2007.
"Broadcom's first quarter results came in much stronger than we expected, driven primarily by greater demand within our traditional wireline businesses -- Enterprise Networking and Broadband Communications. This increased demand enabled Broadcom to achieve a record revenue level and strong cash flow from operations and to fund an aggressive share repurchase program," said Scott A. McGregor, Broadcom's President and Chief Executive Officer. "While we remain cautious on the macroeconomic front, based on strong ordering trends from our customers throughout the first quarter, we expect solid revenue growth for the second quarter within each of our three major target markets."
Conference Call Information
As previously announced, Broadcom will conduct a conference call with analysts and investors to discuss its first quarter of 2008 financial results and current financial prospects today at 1:45 p.m. Pacific Time (4:45 p.m. Eastern Time). The company will broadcast the conference call via webcast over the Internet. To listen to the webcast, or to view the financial or other statistical information required by Securities and Exchange Commission (SEC) Regulation G, please visit the Investors section of the Broadcom website at http://www.broadcom.com/investors. The webcast will be recorded and available for replay until 5:00 p.m. Pacific Time, Tuesday, May 6, 2008.
About Broadcom
Broadcom Corporation is a major technology innovator and global leader in semiconductors for wired and wireless communications. Broadcom(R) products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment. We provide the industry's broadest portfolio of state-of-the-art system-on-a-chip and software solutions to manufacturers of computing and networking equipment, digital entertainment and broadband access products, and mobile devices. These solutions support our core mission: Connecting everything(R).
Broadcom is one of the world's largest fabless semiconductor companies, with 2007 revenue of $3.78 billion, and holds over 2,600 U.S. and 1,200 foreign patents, more than 7,450 additional pending patent applications, and one of the broadest intellectual property portfolios addressing both wired and wireless transmission of voice, video, data and multimedia.
Broadcom is headquartered in Irvine, Calif., and has offices and research facilities in North America, Asia and Europe. Broadcom may be contacted at +1.949.926.5000 or at http://www.broadcom.com/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
All statements included or incorporated by reference in this release and the related conference call for analysts and investors, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our business and industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. Examples of such forward-looking statements include, but are not limited to, references to our expectations regarding customer orders and future revenue growth. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.
These risks and uncertainties include, but are not limited to:
-- general economic and political conditions and specific conditions in
the markets we address, including the continuing volatility in the
technology sector and semiconductor industry, trends in the broadband
communications markets in various geographic regions, including
seasonality in sales of consumer products into which our products are
incorporated, and possible disruption in commercial activities related
to terrorist activity or armed conflict;
-- the timing, rescheduling or cancellation of significant customer orders
and our ability, as well as the ability of our customers, to manage
inventory;
-- the gain or loss of a key customer, design win or order;
-- the rate at which our present and future customers and end-users adopt
Broadcom's technologies and products in our target markets;
-- our ability to scale our operations in response to changes in demand
for our existing products and services or demand for new products
requested by our customers;
-- our ability to specify, develop or acquire, complete, introduce, market
and transition to volume production new products and technologies in a
cost-effective and timely manner;
-- our dependence on a few significant customers for a substantial portion
of our revenue;
-- risks and uncertainties resulting from Broadcom's recent equity award
review, including potential claims and proceedings related to such
matters, such as shareholder litigation and any action by the SEC, U.S.
Attorney's Office or other governmental agency that could result in
civil or criminal sanctions against the company and/or certain of our
current or former officers, directors or employees, or other actions
taken or required as a result of the review;
-- intellectual property disputes and customer indemnification claims and
other types of litigation risk;
-- our ability to retain, recruit and hire key executives, technical
personnel and other employees in the positions and numbers, with the
experience and capabilities, and at the compensation levels needed to
implement our business and product plans;
-- the effectiveness of our expense and product cost control and reduction
efforts;
-- the quality of our products and any potential remediation costs;
-- the availability and pricing of third party semiconductor foundry,
assembly and test capacity and raw materials;
-- the risks of producing products with new suppliers and at new
fabrication and assembly and test facilities;
-- problems or delays that we may face in shifting our products to smaller
geometry process technologies and in achieving higher levels of design
integration;
-- our ability to timely and accurately predict market requirements and
evolving industry standards and to identify opportunities in new
markets;
-- delays in the adoption and acceptance of industry standards in our
target markets;
-- changes in our product or customer mix;
-- the volume of our product sales and pricing concessions on volume
sales;
-- competitive pressures and other factors such as the qualification,
availability and pricing of competing products and technologies and the
resulting effects on sales and pricing of our products;
-- the timing of customer-industry qualification and certification of our
products and the risks of non-qualification or non-certification;
-- fluctuations in the manufacturing yields of our third party
semiconductor foundries and other problems or delays in the
fabrication, assembly, testing or delivery of our products;
-- the risks and uncertainties associated with our international
operations, particularly in light of terrorist activity, armed conflict
or political unrest; and
-- the level of orders received that can be shipped in a fiscal quarter.
Our Annual Report on Form 10-K, recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss the foregoing risks as well as other important risk factors that could contribute to such differences or otherwise affect our business, results of operations and financial condition. The forward-looking statements in this release and the related conference call for analysts and investors speak only as of the date they are made. We undertake no obligation to revise or update publicly any forward-looking statement for any reason.
Broadcom(R), the pulse logo, Connecting everything(R) and the Connecting everything logo are among the trademarks of Broadcom Corporation and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.
BROADCOM CORPORATION
Unaudited Condensed Consolidated Statements of Income
(In thousands, except per share amounts)
Three Months Ended
March 31,
2008(a) 2007
Net revenue $1,032,210 $901,481
Cost of revenue 481,163 440,949
Gross profit 551,047 460,532
Operating expense:
Research and development 355,688 300,810
Selling, general and administrative 111,946 128,647
Amortization of purchased intangible assets 183 329
In-process research and development 10,900 300
Impairment of other intangible assets - 1,500
Settlement costs 15,810 -
Income from operations 56,520 28,946
Interest income, net 20,104 37,008
Other income (expense), net 924 (1,409)
Income before income taxes 77,548 64,545
Provision for income taxes 3,234 3,554
Net income $74,314 $60,991
Net income per share (basic) $.14 $.11
Net income per share (diluted) $.14 $.10
Weighted average shares (basic) 530,338 547,860
Weighted average shares (diluted) 539,827 585,740
(a) Includes royalties in the amount of $35.6 million received pursuant to
a patent license agreement entered into in July 2007.
The following table presents details of total stock-based compensation expense included in each functional line item in the unaudited condensed consolidated statements of income above:
Three Months Ended
March 31,
2008 2007
Cost of revenue $5,465 $5,814
Research and development 78,706 78,431
Selling, general and administrative 29,065 32,626
BROADCOM CORPORATION
Unaudited Condensed Consolidated Statements of Cash Flows
(In thousands)
Three Months Ended
March 31,
2008 2007
Operating activities
Net income $74,314 $60,991
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 17,249 13,299
Stock-based compensation expense:
Stock options and other awards 58,029 79,145
Restricted stock units issued by the company 55,207 37,726
Acquisition-related items:
Amortization of purchased intangible assets 4,118 3,379
In-process research and development 10,900 300
Impairment of intangible assets - 1,500
Loss on strategic investments, net - 2,637
Changes in operating assets and liabilities:
Accounts receivable 6,581 22,459
Inventory 9,911 2,383
Prepaid expenses and other assets (6,296) (16,290)
Accounts payable 46,014 21,475
Accrued settlement liabilities 10,000 (2,000)
Other accrued and long-term liabilities (46,959) 17,652
Net cash provided by operating activities 239,068 244,656
Investing activities
Net purchases of property and equipment (25,662) (63,964)
Net cash paid for acquisitions and other purchased
intangible assets (19,795) (47,677)
Purchases of strategic investments (355) (3,500)
Purchases of marketable securities (135,194) (268,932)
Proceeds from sales and maturities of marketable
securities 148,183 378,154
Net cash used in investing activities (32,823) (5,919)
Financing activities
Repurchases of Class A common stock (391,732) (425,062)
Minimum tax withholding paid on behalf of employees
for restricted stock units (12,130) (23,991)
Proceeds from issuance of common stock, net 12,314 80,825
Net cash used in financing activities (391,548) (368,228)
Decrease in cash and cash equivalents (185,303) (129,491)
Cash and cash equivalents at beginning of period 2,186,572 2,158,110
Cash and cash equivalents at end of period $2,001,269 $2,028,619
UNAUDITED SUPPLEMENTAL FINANCIAL INFORMATION
March 31, December 31,
2008 2007
(In thousands)
Cash and cash equivalents $2,001,269 $2,186,572
Short-term marketable securities 90,033 141,728
Long-term marketable securities 114,456 75,352
Total cash, cash equivalents and marketable
securities $2,205,758 $2,403,652
Decrease from prior quarter end $(197,894)
BROADCOM CORPORATION
Unaudited Condensed Consolidated Balance Sheets
(In thousands)
March 31, December 31,
2008 2007
ASSETS
Current assets:
Cash and cash equivalents $2,001,269 $2,186,572
Short-term marketable securities 90,033 141,728
Accounts receivable, net 362,436 369,004
Inventory 221,402 231,313
Prepaid expenses and other current assets 125,413 125,663
Total current assets 2,800,553 3,054,280
Property and equipment, net 250,526 241,803
Long-term marketable securities 114,456 75,352
Goodwill 1,376,936 1,376,721
Purchased intangible assets, net 42,489 46,607
Other assets 49,571 43,430
Total assets $4,634,531 $4,838,193
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $360,571 $313,621
Wages and related benefits 137,373 147,853
Deferred revenue 7,907 15,864
Accrued liabilities 239,593 253,226
Total current liabilities 745,444 730,564
Commitments and contingencies
Long-term deferred revenue 7,006 8,108
Other long-term liabilities 63,568 63,373
Shareholders' equity 3,818,513 4,036,148
Total liabilities and shareholders' equity $4,634,531 $4,838,193
BROADCOM CORPORATION
Unaudited Supplementary Financial Data
(In thousands)
The following table presents details of supplementary financial data included in each functional line item in the unaudited condensed consolidated statements of income:
Three Months Ended
March 31,
2008 2007
Cost of revenue:
Stock-based compensation $5,465 $5,814
Amortization of purchased intangible assets 3,935 3,050
Research and development:
Stock-based compensation 78,706 78,431
Selling, general and administrative:
Stock-based compensation 29,065 32,626
Recovery of legal fees related to certain litigation (8,569) -
Other operating expense:
Amortization of purchased intangible assets 183 329
In-process research and development (1) 10,900 300
Impairment of intangible assets - 1,500
Settlement costs (2) 15,810 -
Other:
Employer payroll tax expense on certain stock option
exercises 930 1,886
Charges related to equity award review - 3,434
Loss on strategic investments, net - 2,637
Non-operating gains - (3)
(1) Recorded in connection with the company's acquisition of Sunext
Design, Inc. in the three months ended March 31, 2008.
(2) Recorded accrued settlement costs included $12.0 million related to
Broadcom's settlement with the Securities and Exchange Commission,
which was announced separately today, as well as $3.8 million related
to a patent infringement claim.
Broadcom Business Press Contact Broadcom Investor Relations Contact
Bill Blanning T. Peter Andrew
Vice President, Vice President,
Global Media Relations Corporate Communications
949-926-5555 949-926-5663
blanning@broadcom.com andrewtp@broadcom.com
Photo: http://www.newscom.com/cgi-bin/prnh/20060609/BROADCOMLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Broadcom Corporation; BRCM Corporate
CONTACT: press, Bill Blanning, Vice President, Global Media Relations, +1-949-926-5555, blanning@broadcom.com, or investors, T. Peter Andrew, Vice President, Corporate Communications, +1-949-926-5663, andrewtp@broadcom.com, both of Broadcom Corporation
Web site: http://www.broadcom.com/
Entrust Announces First Quarter Fiscal Year 2008 Financial Results- Total Revenues of $25.8 million - an increase of 5% year-over-year- Emerging Growth Products revenues of $2.6 million - an increase of 13% year-over-year- Total Transactions grew to 136 - an increase of 20% year-over-year- Deferred Revenue of $28.9 million - an increase of $1.0 million from year-end 2007- Cash and Cash Equivalents increased $2.3 million in the quarter to $22.8 million
DALLAS, April 22 /PRNewswire-FirstCall/ -- Entrust, Inc. , a world leader in securing digital identities and information, today announced financial results for its fiscal quarter ended March 31, 2008.
"I am pleased with our Q1 performance toward meeting our first half financial and operating commitments," said Bill Conner, Entrust chairman, president and chief executive officer. "Specifically, we grew product revenue five percent year-over-year, increased product transactions by 20 percent over last year, increased revenue from transactions under $500 thousand by 13 percent and increased deferred revenue by $1.0 million from the fourth quarter. Equally important was a $.02/share increase in profitability from a year ago and a positive cash flow from operations of $3.9 million in the quarter before the net change in restructuring accruals."
Revenue for the first quarter was $25.8 million, an increase of 5% from $24.6 million in Q1, 2007. Revenue in the first quarter was driven by product revenue transactions under $500 thousand, which accounted for 90% of product revenue. We also had one deal value of approximately $1.5 million, including software, service and 3rd party hardware for a global government. Deferred revenue increased in the quarter to approximately $28.9 million, an increase of approximately $1.0 million, from $27.9 million at year-end 2007.
Conner added, "In the quarter we continued to make solid progress in many key areas including lowering our reliance on large deals and increasing our revenue from subscription based offerings. We also made significant progress with customers, specifically in Risk Based Authentication and Global Governments, where in the quarter we delivered for two top global financial institutions and a large government e-borders project in Europe. We also achieved record bookings in our SSL certificate business and Entrust Managed Services business added two Fortune 200 U.S. companies to the Entrust Managed Service and as a result achieved over $1.0 million in bookings. These achievements coupled with our overall sales funnel and financial management position us well to achieve our first half and full year 2008 operating and financial goals."
Entrust recorded a Q1, 2008 net loss, calculated in accordance with GAAP, of $1.2 million, or $0.02 per share, compared to Q1, 2007 net loss of $2.4 million, or $0.04 per share. On a non-GAAP basis the company recorded a profit of $344 thousand, or $0.01 per share, compared to Q1, 2007 loss of $837 thousand, or $0.01 per share. The non-GAAP figures exclude amortization of purchased intangibles and stock-option based compensation expense. See the financial table below reconciling these non-GAAP figures to GAAP.
The company ended Q1, 2008 with approximately $22.8 million in cash and cash equivalents and no debt.
Financial Outlook:
Entrust reiterated its previous guidance provided on the first half and full year 2008. Entrust is targeting first half 2008 revenue of between $50.0 million and $53.0 million. For the full year 2008, Entrust is targeting total revenue of between $106.0 million to $110.0 million. Entrust is targeting a net loss in accordance with GAAP of $0.01 per share for the first half of 2008. On a non-GAAP basis the company is targeting a profit of $0.03 per share for the first half of 2008. For the full year 2008, Entrust is targeting a net income in accordance with GAAP of approximately $0.02 per share. On a non-GAAP basis the company is targeting a full year profit of $0.10 per share. The company's Q2, 2008, total expenses on a non-GAAP basis are expected to be approximately $25.0 million. The Company expects to be cash flow positive from operations before adjustments to exclude the effects of the net change in accrued restructuring charges for the full year by over $10.0 million. See the financial table below reconciling the non-GAAP figures to GAAP.
Q1 Business and Financial Metrics:
-- Revenue of $25.8 million consisted of 37% product revenue
($9.6 million) and 63% services and maintenance revenue
($16.2 million). The top five product transactions accounted for 11% of
Q1, 2008 revenues. There were no product transactions over $1 million
in Q1, 2008.
-- Revenue from subscription based product and services accounted for 51%
of total revenue for Q1, 2008 an increase of 15% from Q1, 2007.
-- Revenue from transactions under $500 thousand increased 13% from Q1,
2007, continuing to drive the company's strategy to be less reliant on
large deals. Transactions under $500 thousand accounted for 90% of
product revenue in Q1, 2008.
-- Emerging growth products (Entrust IdentityGuard, Boundary Messaging and
Fraud Detection) accounted for $2.6 million, or 27% of product revenue,
up 13% from $2.3 million in Q1, 2007. Entrust IdentityGuard achieved
its highest quarterly revenue and number of transactions, which
increased to 56 this quarter, up from 34 in Q1, 2007.
-- Public Key Infrastructure (PKI) products accounted for $6.8 million, or
70% of product revenue, up 6% from $6.4 million in Q1, 2007. Entrust
certificate services (SSL certificates) increased 41% year-over-year
and accounted for $2.2 million of PKI product revenue in Q1, 2008.
-- Product revenue for the quarter was 53% Extended Government and 47%
Extended Enterprise. The financial services vertical continued to be
strong, increasing 84% over Q1, 2007 and accounted for approximately
34% of product revenue in Q1, 2008.
-- The average purchase size in the first quarter was $50,000, a decrease
from $61,000 in Q1, 2007. Total transactions in Q1, 2008 reached 136,
which is up from 113 in Q1, 2007. Forty-two transactions or 31% of the
total transactions were from new customers.
-- Deferred revenue of $28.9 million increased $1.0 million from Q4, 2007.
-- Cash flow from operations was positive $3.9 million for Q1, 2008 before
the net change in restructuring.
Technology and Industry Highlights:
-- Entrust announced the launch of the most advanced iteration of PKI to
date in Entrust Authority 8.0 -- the benchmark for digital identity and
information security. A key component of a layered security approach,
the latest release of Entrust Authority offers a unique, integrated
platform for the widely used X.509 standard PKI digital certificates,
as well as the specialized certificate types and capabilities required
for new global ePassport initiatives.
-- Entrust offers integrated secure delivery using the Adobe(R) portable
document format (PDF) -- in addition to Web and standards-based
delivery -- via the Entrust Entelligence Messaging Server. Already
supporting OpenPGP, S/MIME and Webmail Pull and Web Mail push delivery
methods, Entrust Entelligence Messaging Server's new secure PDF
delivery capability provides end-users with easy-to-understand secure
communication with financial institutions, enterprises, vendors and
partners. A fully integrated feature, reading encrypted messages now
only requires a PDF reader, which comes standard on the majority of
today's personal computers and laptops. Encryption is achieved through
strong password-based encryption standards. Users can receive encrypted
messages complete with subject line, body and, unique to the Entrust
Entelligence Messaging Server, can reply to their secure message with
an encrypted message.
-- Entrust added critical administrator authentication support for Windows
and Unix to its versatile authentication platform, Entrust
IdentityGuard. Built on standards like Web services and Radius, Entrust
IdentityGuard easily fits into an organization to protect critical
enterprise assets. This includes the ability to protect remote access
applications (e.g., IP-Sec and SSL VPN, Citrix); Web applications,
including Microsoft Outlook(R) Web Access; and Microsoft Windows
desktops. New to the product, Entrust IdentityGuard also now can
strongly authenticate administrators accessing Microsoft Windows
servers, both locally and remotely. Entrust IdentityGuard also
introduced support for protecting administrator access to Unix servers,
giving deploying organizations the ability to protect users and servers
across a heterogeneous environment.
-- Banking and Business Solutions (BBS) selected Entrust Authority
Security Manager as their complete managed PKI services solution. As
one of the largest PKI service environments in Europe, BBS brings to
market more than three decades of experience in delivering world-class
financial infrastructures, including the Norwegian BankID solution,
which won the eema Excellence Award in Europe for Securing e-Business.
BBS' security service portfolio comprises eID infrastructures and
value-added services as multi-ID authentication and signing solutions,
long-term archive capabilities, mobile signature services, Det norske
Veritas Validation Service and One-Time-Code-based services.
-- Virtual Documents Propriety Limited selected the Entrust IdentityGuard
versatile authentication platform to help enable the growth of their
online business model and promote operational efficiency. The solution
provides the South African-based organization with strong
authentication for customer access to its online information
repository, branded "LOC Your DOC(TM)". Entrust IdentityGuard enables
Virtual Documents customers to verify their identities via strong
authentication for access to "LOC Your DOC(TM)" system. Facilitated by
Entrust's reseller L@Wtrust, Virtual Documents purchased a Entrust
IdentityGuard licenses for 10,000 users, as well as 1,000 Entrust
IdentityGuard one-time-passcode (OTP) hardware tokens.
-- Germany-based Universa, the country's oldest private health insurance
organization, sought a trusted method to enable secure enterprise
access and communication via a multifactor authentication solution. In
the end, Universa selected Entrust, Inc. and the Entrust IdentityGuard
versatile authentication platform to foster efficiency and productivity
between internal assets, workstations, applications and their remote
workforce. Facilitated by trusted partner CyProtect, Universa selected
Entrust IdentityGuard for multifactor authentication via
one-time-passcode (OTP) hardware tokens, as well as software for secure
remote access to enterprise resources and Microsoft Outlook Web Access
(OWA).
Entrust will host a live teleconference and Webcast on Tuesday, April 22, 2008 at 5:00 p.m. (Eastern), featuring Chairman, President and CEO Bill Conner and Chief Financial Officer David Wagner to discuss the company's fiscal first quarter results and 2008 outlook. The conference call audio will be available live via dial-in at 1-800-732-6179 and via the Internet at http://phx.corporate-ir.net/playerlink.zhtml?c=73119&s=wm&e=1816204. Please log on approximately 15 minutes before the Webcast begins in order to register and to download and install any necessary audio software. An archive of the Webcast will be available for 90 days at the above Internet address. For those unable to attend the live conference call, an audio replay will be available beginning at 7:00 p.m. EDT, Tuesday, April 22, 2008 through Tuesday, April 29, 2008 at 11:59 p.m. EDT. The replay number is 1- 877-289-8525 and the pass code is 21268114#.
Use of Non-GAAP Financial Measures
To supplement the financial results that are prepared and presented in accordance with accounting principles generally accepted in the United States, Entrust's management prepares and uses non-GAAP financial measures for many of its internal financial, operating and planning reports. The company's management believes that by excluding charges such as the purchased intangibles amortization in cost of goods sold, the amortization of purchased intangible assets in operating expenses, stock compensation expense, restructuring charges and write down of strategic investments from its GAAP-based results, these non-GAAP financial measures are more likely to facilitate investors' understanding of the company's ongoing business operating results. These non-GAAP financial measures also facilitate comparisons to the operating results of the company's competitors and provide investors with greater transparency with respect to the supplemental information used by management in its operational and financial decision making.
The non-GAAP measures are included to provide investors with supplemental information to facilitate their understanding of Entrust's operating results and future prospects. Management uses these non-GAAP measures to assess its success in reducing the company's cost structure, to measure its ongoing cash operating costs, and to establish budgets and operational goals. The presentation of this additional information should not be considered in isolation or as a substitute for financial and operating results prepared in accordance with accounting principles generally accepted in the United States, as non-GAAP measures are susceptible to varying calculations and they may not be comparable, as presented, to other similarly titled measures of other companies.
This press release contains forward-looking statements relating to Entrust's projected revenue, net income and net loss per share, non-GAAP income per share and cash flow from operations for the first half and full year 2008 and the company's planned second quarter non-GAAP total expenses. Such statements are based upon preliminary estimates which involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are unforeseen operating expenses ,inaccuracy in preliminary estimates issues associated with revenue recognition, issues raised in connection with the internal review of quarterly financial results, and the risk factors detailed from time to time in Entrust's periodic reports and registration statements filed with the Securities and Exchange Commission, including without limitation Entrust's Annual Report on Form 10-K for the fiscal year ended December 31, 2007. While Entrust may elect to update forward-looking statements in the future, Entrust specifically disclaims any obligation to do so, even if its estimates change.
About Entrust
Entrust secures digital identities and information for consumers, enterprises and governments in 1,700 organizations spanning 60 countries. Leveraging a layered security approach to address growing risks, Entrust solutions help secure the most common digital identity and information protection pain points in an organization. These include SSL, authentication, fraud detection, shared data protection and e-mail security. For information, call 888-690-2424, e-mail entrust@entrust.com or visit http://www.entrust.com/.
Entrust is a registered trademark of Entrust, Inc. in the United States and certain other countries. In Canada, Entrust is a registered trademark of Entrust Limited. All Entrust product names are trademarks of Entrust. All other company and product names are trademarks or registered trademarks of their respective owners.
ENTRUST, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three Months Ended
March 31st,
2008 2007
Revenues:
Product $9,630 $9,144
Services and maintenance 16,208 15,419
Total revenues 25,838 24,563
Cost of revenues:
Product 2,362 1,808
Services and maintenance 7,855 7,448
Amortization of purchased
product rights 345 332
Total cost of revenues 10,562 9,588
Total gross profit 15,276 14,975
Operating expenses:
Sales and marketing 8,703 9,093
Research and development 4,742 5,349
General and administrative 3,116 3,260
Total operating expenses 16,561 17,702
Loss from operations (1,285) (2,727)
Other income (expense):
Interest income 131 180
Foreign exchange gain 20 247
Gain on sale of long-term
strategic investments 18 -
Loss from equity investments - (77)
Total other income (expense) 169 350
Loss before income taxes (1,116) (2,377)
Provision for income taxes 64 52
Net loss $(1,180) $(2,429)
Weighted average common shares used
Basic 61,165 60,387
Diluted 61,165 60,387
Net loss per share
Basic ($0.02) ($0.04)
Diluted ($0.02) ($0.04)
ENTRUST, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
March 31, December 31,
2008 2007
ASSETS
Cash and marketable investments $22,822 $20,485
Accounts receivable, net of
allowance for doubtful accounts 19,212 20,773
Other current assets 3,375 4,079
Property and equipment, net 1,313 1,490
Purchased product rights and other
purchased intangible assets, net 10,938 11,543
Goodwill 60,214 60,214
Long-term strategic and equity
investments 91 91
Other long-term assets, net 3,655 3,479
Total assets $121,620 $122,154
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable and accruals $15,451 $16,330
Accrued restructuring charges 17,862 19,266
Deferred revenue 28,898 27,894
Long-term liabilities 778 218
Total liabilities 62,989 63,708
Shareholders' equity 58,631 58,446
Total liabilities and
shareholders' equity $121,620 $122,154
The following supplemental tables provide non-GAAP financial measures used
by the company's management to evaluate operational results. The company
believes this information may be useful to investors. In addition to
disclosing financial results calculated in accordance with U.S. generally
accepted accounting principles (GAAP), the company's earnings release
contains non-GAAP financial measures that exclude the income statement
effects of share-based compensation, amortization of purchase product
rights and other purchased intangibles, and non recurring restructuring
and impairment charges. The non-GAAP financial measures disclosed by the
company should not be considered a substitute for, or superior to,
financial measures calculated in accordance with GAAP, and the financial
results calculated in accordance with GAAP and reconciliations to those
financial statements should be carefully evaluated. The non-GAAP financial
measures used by the company may be calculated differently from, and
therefore may not be comparable to, similarly titled measures used by
other companies.
Set forth below are reconciliations of the non-GAAP financial measures to
the most directly comparable GAAP financial measures.
For additional information regarding these non-GAAP financial measures,
see the Form 8-K dated April 22, 2008 that Entrust has filed with the
Securities and Exchange Commission.
ENTRUST, INC.
SUPPLEMENTAL
RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES
(in thousands, except per share data)
Three Months Ended
March 31st,
2008 2007
Reconciliation of net loss per GAAP to Non-GAAP
income (loss):
GAAP net loss $(1,180) $(2,429)
Adjustments for share-based compensation
expense:
Cost of revenues 91 67
Sales and marketing 318 289
Research and development 122 197
General and administrative 399 441
Amortization of other purchased intangibles:
Cost of revenues 38 38
Sales and marketing 211 228
Amortization of purchased product rights 345 332
Non-GAAP income (loss) $344 $(837)
Reconciliation of net loss per diluted share
according to GAAP to Non-GAAP income (loss)
per diluted share:
GAAP net loss per diluted share ($0.02) ($0.04)
Adjustments for share-based compensation
expense 0.02 0.02
Amortization of other purchased intangibles - -
Amortization of purchased product rights 0.01 0.01
0.03 0.03
Non-GAAP income (loss) per diluted share $0.01 ($0.01)
Weighted average common shares used 61,165 60,387
Reconciliation of net cash flow from operating
activities per GAAP to Non-GAAP cash flow from
operations before the net change in
restructuring accruals:
GAAP net cash flow from operating activities $2,488 $(2,544)
Adjustments to exclude the effects of:
Net change in accrued restructuring
charges 1,404 1,238
Non-GAAP cash flow from operations before the
net change in restructuring accruals $3,892 $(1,306)
Forward Looking Guidance
Earnings Per Share Range
First Half Full Year
2008 2008
U.S. GAAP measure ($0.02) $0.01
Adjustments to exclude the effects of
amortization of purchased intangible
assets $0.02 $0.03
Adjustments to exclude the effects of
expenses related to stock-based
compensation $0.03 $0.06
Non-GAAP figures $0.03 $0.10
Forward Looking Guidance
Total Quarterly Costs
(in millions)
Q1 2008
U.S. GAAP measure $26.5
Adjustments to exclude the effects of
amortization of purchased intangible
assets $0.6
Adjustments to exclude the effects of
expenses related to stock-based
compensation $0.9
Non-GAAP figures $25.0
Forward Looking Guidance
Cash Flow from Operating Activities
(in millions)
Full Year
2008
U.S. GAAP measure $4.6
Adjustments to exclude the effects of the
net change in accrued restructuring charges $5.4
Non-GAAP figures $10.0
Entrust, Inc.
CONTACT: Investors, David Rockvam, Investor Relations, +1-972-713-5824 david.rockvam@entrust.com, or Media, Michelle Metzger, Media Relations, +1-972-713-5866, michelle.metzger@entrust.com, both of Entrust, Inc.
Web site: http://www.entrust.com/
Aaron Rents, Inc. Reports First Quarter Results; Revenues Up 13%; Earnings Exceed Estimates
ATLANTA, April 22 /PRNewswire-FirstCall/ -- Aaron Rents, Inc. , the nation's leader in the sales and lease ownership, specialty retailing and rental of residential and office furniture, consumer electronics, home appliances and accessories, today announced revenues and earnings for the three months ended March 31, 2008.
For the first quarter of 2008, revenues increased 13% to $437.3 million compared to $387.9 million for the same quarter a year ago. Net earnings were $24.8 million versus $29.2 million last year. Diluted earnings per share were $.46 compared to $.53 per diluted share in the first quarter of 2007.
Included in the Company's other revenues in the first quarter of 2007 was a $4.9 million gain from the sale of a parking deck at the Company's corporate headquarters. Excluding this gain, net earnings on a non-GAAP basis for the first quarter of 2007 would have been $26.2 million or $.48 per diluted share.
"We are pleased that the first quarter exceeded our earnings expectations," said R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer of Aaron Rents. "As previously announced we have slowed down our new store expansion plan in 2008 to concentrate on achieving better execution and improving overall profitability, and we believe the earnings results are evidence that we have started to see some positive results from this plan. Earnings in the quarter were negatively affected by start-up costs of approximately $.09 per diluted share associated with the rapid expansion of our store base throughout 2007."
"Our franchised stores once again outperformed Company-operated stores in same store revenue growth and collection efforts, however, we are pleased that we are making progress with our Company store level execution," Mr. Loudermilk added. "Net write-offs in the quarter at the Company-operated stores were lower as a percentage of revenue compared to the several previous quarters."
For the first quarter, the Aaron's Sales & Lease Ownership division increased its revenues 16% to $406.3 million compared to $351.2 million for the first quarter last year. Same store rental revenues (rental revenues earned in Company-operated stores open for the entirety of both periods) in the Aaron's Sales & Lease Ownership division increased 2.6% during the first quarter of 2008 compared to the first quarter of 2007.
Consolidated rentals and fees increased 12% and franchise royalties and fees increased 11% during the first quarter of 2008 compared to the same period in 2007. Non-retail sales, which are primarily sales of merchandise to Aaron's Sales & Lease Ownership franchisees, increased 22% for the quarter compared to the first quarter of last year. The increases in the Company's franchise revenues and non-retail sales are the result of an increase in revenues of the Company's franchisees, who collectively had revenues of $167.4 million during the first quarter of 2008, a 13% increase over the 2007 quarter. Same store revenues for franchised stores were up 13% for the first quarter compared to the same quarter last year. Revenues of franchisees, however, are not revenues of Aaron Rents, Inc.
During the first quarter the Aaron's Sales & Lease Ownership division opened 14 new Company-operated stores, eight new franchised stores, two Company-operated RIMCO stores and two franchised RIMCO stores. The division also closed 20 Company-operated and three franchised stores during the quarter, merging their operations with other stores. In addition, the Company acquired 13 franchised stores and sold 11 Company-operated stores to franchisees. Also, during the quarter two new corporate furnishings stores were opened and two stores were closed.
The Company recorded a $2.3 million gain in the first quarter of 2008 relating to the sales of the Company-operated stores to franchisees. Included in operating expenses was $1.6 million for future lease obligations and other expenses related to the store closings.
Area development agreements were awarded during the quarter to open 50 additional franchised stores. At the end of March there were 300 franchised stores awarded that are expected to open over the next several years.
At March 31, 2008 the Aaron's Sales & Lease Ownership division had 983 Company-operated stores, 483 franchised stores, 29 Company-operated RIMCO stores and six franchised RIMCO stores. The Company also had 62 corporate furnishings stores.
The Company generated over $30 million of cash flow from operations during the first quarter and bought 387,545 shares of its Common Stock. There are currently 3,920,413 shares remaining under the Company's Board repurchase authorization.
"Our plans to open less than 75 new Company-operated and between 70 and 90 new franchised stores during 2008 are unchanged. Overall store count increased only slightly during the first quarter primarily due to closing and merging some stores not meeting our profit goals, and we will continue to do additional mergers and realignments throughout the year as deemed appropriate to improve profitability," Mr. Loudermilk continued. "Our guidance for the second quarter of 2008 is to expect revenues in excess of $405 million and diluted earnings per share in the range of $.34 to $.39. For the entire 2008 year expectations remain to achieve Company revenues of approximately $1.7 billion (excluding revenues of franchisees) and diluted earnings per share in the range of $1.40 to $1.55."
Aaron Rents will hold a conference call to discuss its quarterly financial results on Wednesday, April 23, 2008, at 10:30 am Eastern Time. The public is invited to listen in to the conference call by webcast accessible through the Company's website, http://www.aaronrents.com/ , in the "Investor Relations" section. The webcast will be archived for playback at that same site.
Aaron Rents, Inc., based in Atlanta, currently has more than 1,565 Company-operated and franchised stores in 48 states and Canada for the rental and sale of residential and office furniture, accessories, consumer electronics and household appliances. The Company also manufactures furniture, bedding and accessories at 12 facilities in five states.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release regarding Aaron Rents, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include factors such as changes in general economic conditions, competition, pricing, customer demand and other issues, and the risks and uncertainties discussed under "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2007. Statements in this release that are "forward-looking" include without limitation Aaron Rents' projected revenues, earnings, and store openings for future periods.
Aaron Rents, Inc. and Subsidiaries
Consolidated Statements of Earnings
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended
March 31,
2008 2007
Revenues:
Rentals and Fees $319,838 $285,797
Retail Sales 17,149 15,626
Non-Retail Sales 85,417 70,253
Franchise Royalties and Fees 11,039 9,914
Other 3,888 6,344
Total 437,331 387,934
Costs and Expenses:
Retail Cost of Sales 11,022 10,307
Non-Retail Cost of Sales 77,896 64,130
Operating Expenses 192,002 161,677
Depreciation of Rental Merchandise 113,597 103,051
Interest 2,435 1,889
Total 396,952 341,054
Earnings Before Taxes 40,379 46,880
Income Taxes 15,626 17,673
Net Earnings $24,753 $29,207
Earnings Per Share $.46 $.54
Earnings Per Share Assuming Dilution $.46 $.53
Weighted Average Shares Outstanding 53,492 54,161
Weighted Average Shares Outstanding
Assuming Dilution 54,156 54,992
Selected Balance Sheet Data
(In Thousands)
(Unaudited)
March 31, December 31,
2008 2007
Cash $7,092 $5,249
Accounts Receivable 53,189 52,025
Rental Merchandise, Net 657,274 623,452
Property, Plant and Equipment, Net 246,690 247,038
Other Assets, Net 186,757 185,412
Total Assets 1,151,002 1,113,176
Bank Debt 80,000 82,884
Senior Notes 80,000 80,000
Total Liabilities 459,845 439,796
Shareholders' Equity $691,157 $673,380
Reconciliation of Revenues and Earnings
Excluding Asset Sale of Parking Deck
(In thousands)
(Unaudited)
Three Months Ended
March 31,
2008 2007
Total Revenues $437,331 $387,934
Less Revenues from Asset Sale - 4,878
Revenues Excluding Asset Sale 437,331 383,056
Net Earnings 24,753 29,207
Less Gain from Asset Sale - 3,034
Net Earnings Excluding Gain From Asset Sale $24,753 $26,173
Aaron Rents, Inc.
CONTACT: Gilbert L. Danielson, Executive Vice President, Chief Financial Officer of Aaron Rents, Inc., +1-404-231-0011
Web site: http://www.aaronrents.com/
SST All-in-OneMemory Wins Innovation Award From EDN MagazineAll-in-OneMemory Takes Home Coveted Industry Award in Digital ICs, Memory and Programmable Logic Category
SUNNYVALE, Calif., April 22 /PRNewswire-FirstCall/ -- SST (Silicon Storage Technology, Inc.) , a leader in flash memory technology, today announced that its innovative managed memory subsystem solution, All-in-OneMemory, has won EDN Magazine's 18th annual Innovation Award in the Digital ICs, Memory and Programmable Logic category. For eighteen years, the Innovation Awards have honored the people, products and technologies that have shaped the semiconductor industry.
"Every year the difficulty of technical challenges increases, the pressures of schedule, cost, and energy efficiency grow, and the resources available to design teams dwindle. That makes the achievements of this year's EDN Innovation Award winners all the more impressive," stated Ron Wilson, executive director of EDN Worldwide. "Selected by their peers in the design community for their outstanding results, these innovators stand in the front rank of the best and brightest electronics engineering has to offer."
"We are very pleased and honored to have won this prestigious award from EDN Magazine," said Bing Yeh, president and CEO, SST. "To have All-in-OneMemory recognized by the staff and readers of EDN is a strong testament to the creativity and design and technology expertise that made this product possible. With the innovative All-in-OneMemory architecture, we are now well equipped to participate in the high-density NOR market with a much less expensive and more flexible memory subsystem solution for code and data."
About All-in-OneMemory
SST All-in-OneMemory offers designers an easy-to-use, single-package memory subsystem with the full benefits of NOR, NAND and RAM for code and data storage. Functionally, All-in-OneMemory is the combination of a high-density NOR, a system RAM and a solid-state drive. The high-density NOR consists of two partitions, a typical size of NOR for boot-up code and a large Pseudo-NOR (PNOR) memory for storing and executing operating system and application code. PNOR is an emulated NOR consisting of a multi-gigabit NAND for nonvolatile storage and a RAM cache for high-speed random access.
All-in-OneMemory products offer several key benefits not found in alternative memory solutions. All-in-OneMemory uses a simple PSRAM bus to interface to the host even though internally All-in-OneMemory has three different types of memory: NOR, NAND and RAM. The simple PSRAM interface makes the system design much easier and helps speed time-to-market. By intelligently managing all memory components with a resident 32-bit microcontroller, All-in-OneMemory offers a large and expandable XIP code area, instant secure boot, memory demand-paging, NAND flash management, and an industry standard ATA data storage protocol in a small footprint BGA package; thereby reducing system complexity and lowering overall system cost. SST All-in-OneMemory is designed for a wide range of embedded system applications, including multimedia-enabled cell phones, portable media players, digital still/video cameras, personal navigation devices, set-top boxes, IPTVs, gaming devices, medical equipment and industrial systems.
About EDN and EDN.com
EDN serves the vital information needs of design engineers and engineering managers worldwide. EDN.com delivers a three-dimensional view of the electronics industry via news coverage, strategic business information, and in-depth technical content (http://www.edn.com/). EDN is published by Reed Business Information (http://www.reedbusiness.com/us), the largest business-to-business publisher in the U.S. and a member of the Reed Elsevier Group plc -- a world-leading publisher and information provider.
About the EDN Innovation Awards
EDN was the first to create an award honoring people, products, and technologies that have shaped the electronics industry. The EDN Innovation Awards program also nurtures the growth of engineering careers and the future of electronics by donating a portion of the proceeds from the Innovation Awards ceremony to an engineering university selected by the Innovator of the Year (http://www.edn.com/innovation18).
About Silicon Storage Technology, Inc.
Headquartered in Sunnyvale, California, SST designs, manufactures and markets a diversified range of memory and non-memory products for high volume applications in the digital consumer, networking, wireless communications and Internet computing markets. Leveraging its proprietary, patented SuperFlash technology, SST is a leading provider of nonvolatile memory solutions with product families that include various densities of high functionality flash memory components and flash mass storage products. The Company also offers its SuperFlash technology for embedded applications through its broad network of world-class manufacturing partners and technology licensees, including TSMC, which offers it under its trademark Emb-FLASH. SST's non-memory products include NAND controller-based products, smart card ICs and modules, flash microcontrollers and radio frequency ICs and modules. Further information on SST can be found on the company's Web site at http://www.sst.com/.
Forward-Looking Statements
Except for the historical information contained herein, this news release contains forward-looking statements regarding flash memory and non-memory market conditions, SST's future financial performance, the performance of new products and SST's ability to bring new products to market that involve risks and uncertainties. These risks may include timely development, acceptance and pricing of new products, the terms and conditions associated with licensees' royalty payments, the impact of competitive products and pricing, and general economic conditions as they affect SST's customers, as well as other risks detailed from time to time in the Company's periodic reports, including the Annual Report on Form 10-K for the year ended December 31, 2006, and subsequent Quarterly Reports on Form 10-Q for the quarters ended March 31, 2007, June 30, 2007 and September 30, 2007. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, SST disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.
For more information about SST and the company's comprehensive list of product offerings, please call 1-888/SST-CHIP. Information can also be requested via email to literature@sst.com or through SST's Web site at http://www.sst.com/. SST's head office is located at 1171 Sonora Court, Sunnyvale, Calif.; telephone: 408/735-9110; fax: 408/735-9036.
The SST logo and SuperFlash are registered trademarks, and Pseudo-NOR and PNOR are trademarks of Silicon Storage Technology, Inc. All other trademarks or registered trademarks are the property of their respective holders.
For More Information Contact:
Ricky Gradwohl
Silicon Storage Technology, Inc.
408/720-6512
rgradwohl@sst.com
Bob Nelson
Tsantes Consulting Group
408/426-4905
bnelson@tsantes.com
Silicon Storage Technology, Inc.
CONTACT: Ricky Gradwohl of Silicon Storage Technology, Inc., +1-408-720-6512, rgradwohl@sst.com; or Bob Nelson of Tsantes Consulting Group, +1-408-426-4905, bnelson@tsantes.com, for Silicon Storage Technology, Inc.
Web site: http://www.sst.com/ http://www.edn.com/
Vocus Announces Record Results for First Quarter 2008Company Achieves 42% Revenue Growth, 66% Free Cash Flow Growth and Record Number of Net New Customers
LANHAM, Md., April 22 /PRNewswire-FirstCall/ -- Vocus, Inc. , a leading provider of on-demand software for public relations management, announced today financial results for the first quarter ended March 31, 2008.
"The first quarter was truly outstanding for us, one of our best ever, as we exceeded all of our key operational and financial metrics", said Vocus President and CEO, Rick Rudman. "What is particularly impressive is that we grew revenue 42%, free cash flow 66% and delivered record non-GAAP profit. The continued success and momentum we are seeing in our business reflects our ability to execute well, successfully invest for the future and deliver the most compelling solutions in the PR marketplace."
Financial Highlights
-- Revenues for the quarter were $17.87 million, a 42% increase over the
same period last year and a 9% increase over the prior quarter. The
first quarter of 2008 represents the 35th consecutive quarter of
revenue growth for the Company;
-- GAAP loss from operations was $(297,000) for the first quarter of 2008,
compared to $(370,000) for the first quarter of 2007. GAAP net loss was
$(403,000), or $(0.02) per diluted share, for the first quarter of 2008
compared to net income of $2,000, or $0.00 per diluted share, for the
first quarter of 2007;
-- Non-GAAP income from operations for the quarter was $2.88 million
compared to $1.52 million for the same period last year. Non-GAAP net
income for the quarter was $2.77 million or $0.14 per diluted share
compared to $1.89 million or $0.11 per diluted share in the same period
last year. The GAAP and non-GAAP net income includes $0.04 per share of
income tax expense. See Other Supplemental Information for further
discussion of non-GAAP measures;
-- Total deferred revenue as of March 31, 2008 was $35.78 million,
compared to $26.92 million at March 31, 2007;
-- Cash flow from operations for the quarter was $5.94 million, a 58%
increase over the same period last year;
-- Free cash flow for the quarter was $5.12 million, a 66% increase over
the same period last year. See Other Supplemental Information for
further discussion of non-GAAP measures.
Business Highlights
-- Added a record 219 net new subscription customers during the quarter
compared to 105 net new subscription customers added during the same
period last year and ended the first quarter of 2008 with 2,646 total
active subscription customers;
-- Signed subscription agreements with new and existing customers
including Borders Group, British Antarctic Survey, China Foreign Trade
Centre, Clemson University, Department of Justice, European
Organization for Nuclear Research, KPN Royal Dutch Telecom, Little Jet
Set, MyBowlingCoach.com, Merck & Company, Nokia Siemens Networks, PIMCO
Bonds, US Lacrosse and Warner Bros. Television;
-- Named one of America's fastest growing technology companies by Forbes,
whose ranking identified the top 25 tech companies that have shown the
most significant sales growth over the last 5 years;
-- Announced the availability of the Canadian Public Relations Society
measurement standard Media Relations Rating Points (MRP) in the Vocus
platform;
-- Announced a partnership with Hostway to provide search engine optimized
online news releases for the small- to medium-businesses using Vocus'
PRWeb Online Newswire.
Guidance
Vocus is providing, for the first time, guidance for the second quarter and revising guidance for the full year 2008 based on information as of April 22, 2008:
-- For the second quarter of 2008, revenue is expected to be in the range
of approximately $18.6 million to $18.8 million. Non-GAAP EPS is
expected to be in the range of $0.12 to $0.13 assuming an estimated
non-GAAP weighted average 20.0 million diluted shares outstanding and
an estimated non-GAAP effective tax rate of 27%. Amortization of
intangible assets and stock-based compensation, reflecting SFAS No.
123R, is expected to be $0.17 per share. GAAP EPS is expected to be in
the range of $(0.05) to $(0.04) assuming an estimated weighted average
17.8 million basic and diluted shares outstanding;
-- For the full year of 2008, revenue is expected to be in the range of
$75.9 million to $76.7 million. Non-GAAP EPS is expected to be in the
range of $0.50 to $0.52 assuming an estimated non-GAAP weighted average
20.0 million diluted shares outstanding and an estimated non-GAAP
effective tax rate of 30%. Amortization of intangible assets and stock-
based compensation, reflecting SFAS No. 123R, is expected to be $0.67
per share. GAAP EPS is expected to be in the range of $(0.17) to
$(0.15) assuming an estimated weighted average 17.8 million basic and
diluted shares outstanding. Free cash flow is expected to range from
$19.5 million to $20.5 million;
-- The revised EPS guidance reflects a revision to the Company's estimated
income tax expense for the year due to limitations on certain U.S. net
operating loss carryforwards and higher projected U.S. taxable income.
The incremental impact of the revised estimated income tax expense on
our previous guidance is $0.03 per share for the second quarter and
$0.15 per share for the full year. On a cash basis, our non-GAAP tax
rate for 2008 is expected to remain unchanged at 5%.
Conference Call Information
Vocus will discuss the financial results and business highlights of the first quarter 2008 in a conference call at 4:30 p.m. ET, or 1:30 p.m. PT, today. The public is invited to listen to a live audio web cast of Vocus' conference call on the Company's investor relations website at http://onlinepressroom.net/vocus/ir/webcast/. For investors unable to participate in the live conference call, a replay of the webcast will be available approximately one hour after the conclusion of the call and will remain available for 30 calendar days following the conference call. An audio replay of the conference call will also be available approximately two hours after the conclusion of the call. The audio replay will be available until May 6, 2008 at 11:59 p.m. ET and can be accessed by dialing (800) 642-1687 or (706) 645-9291 and entering conference number 31343355.
About Vocus, Inc.
Vocus, Inc. is a leading provider of on-demand software for public relations management. Our web-based software suite helps organizations of all sizes to fundamentally change the way they communicate with both the media and the public, optimizing their public relations and increasing their ability to measure its impact. Our on-demand software addresses the critical functions of public relations including media relations, news distribution and news monitoring. We deliver our solutions over the Internet using a secure, scalable application and system architecture, which allows our customers to eliminate expensive up-front hardware and software costs and to quickly deploy and adopt our on-demand software. Vocus is used by over 2,600 organizations worldwide and is available in five languages. Vocus is based in Lanham, MD with offices in North America, Europe and Asia. For more information, please visit http://www.vocus.com/ or call (800) 345-5572.
This release contains "forward-looking" statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These are statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "may," "will," "expects," "projects," "anticipates," "estimates," "believes," "intends," "plans," "should," "seeks," and similar expressions. This press release contains forward-looking statements relating to, among other things, Vocus' expectations and assumptions concerning future financial performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual future results to differ materially from those projected or contemplated in the forward-looking statements. Forward-looking statements may be significantly impacted by certain risks and uncertainties described in Vocus' filings with the Securities and Exchange Commission.
The risks and uncertainties referred to above include, but are not limited to, risks associated with possible fluctuations in our operating results and rate of growth, our history of operating losses, the possibility that we will not sustain GAAP profitability, interruptions or delays in our service or our Web hosting, our business model, breach of our security measures, the emerging market in which we operate, our relatively limited operating history, our ability to hire, retain and motivate our employees and manage our growth, competition, our ability to continue to release and gain customer acceptance of new and improved versions of our service, successful customer deployment and utilization of our services, fluctuations in the number of shares outstanding, foreign currency exchange rates and interest rates.
Vocus, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(dollars in thousands)
December 31, March 31,
2007 2008
(unaudited)
Assets
Current assets:
Cash and cash equivalents $ 56,541 $ 52,503
Short-term investments 10,939 20,644
Accounts receivable, net 14,354 10,808
Other current assets 1,957 2,145
Total current assets 83,791 86,100
Property, equipment and software, net 4,236 4,656
Intangible assets, net 8,628 7,893
Goodwill 17,090 17,090
Other assets 498 647
Total assets $ 114,243 $ 116,386
Liabilities and stockholders' equity
Current liabilities:
Accounts payable and accrued expenses $ 7,212 $ 5,930
Current portion of notes payable and
capital lease obligations 233 173
Current portion of deferred revenue 34,333 35,261
Total current liabilities 41,778 41,364
Notes payable and capital lease
obligations, net of current portion 102 79
Deferred income taxes 639 639
Other liabilities 89 93
Deferred revenue, net of current portion 631 521
Total liabilities 43,239 42,696
Commitments and contingencies
Stockholders' equity:
Common stock 186 194
Additional paid-in capital 109,553 112,608
Treasury stock (3,283) (3,283)
Accumulated other comprehensive loss (60) (34)
Accumulated deficit (35,392) (35,795)
Total stockholders' equity 71,004 73,690
Total liabilities and stockholders' equity $ 114,243 $ 116,386
Vocus, Inc. and Subsidiaries
Consolidated Statements of Operations
(dollars in thousands, except per share data)
Three Months Ended
March 31,
2007 2008
(unaudited) (unaudited)
Revenues $ 12,597 $ 17,867
Cost of revenues, including amortization
expense of intangible assets of $30 for
the three months ended March 31, 2007
and 2008 2,480 3,432
Gross profit 10,117 14,435
Operating expenses:
Sales and marketing 5,611 8,176
Research and development 745 1,213
General and administrative 3,408 4,638
Amortization of intangible assets 723 705
Total operating expenses 10,487 14,732
Loss from operations (370) (297)
Other income (expense):
Interest and other income 387 595
Interest expense (15) (5)
Income before provision for income taxes 2 293
Provision for income taxes -- 696
Net income (loss) $ 2 $ (403)
Net income (loss) per share:
Basic $ 0.00 $ (0.02)
Diluted $ 0.00 $ (0.02)
Weighted average shares outstanding used
in computing per share amounts:
Basic 16,016,478 17,682,504
Diluted 16,598,471 17,682,504
Vocus, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(dollars in thousands)
Three Months Ended
March 31,
2007 2008
(unaudited) (unaudited)
Cash flows from operating activities:
Net income (loss) $ 2 $ (403)
Adjustments to reconcile net income
(loss) to net cash provided by
operating activities:
Depreciation and amortization 1,090 1,138
Other non-cash charges 1,279 2,627
Changes in operating assets and
liabilities 1,397 2,581
Net cash provided by operating activities 3,768 5,943
Cash flows from investing activities:
Net change in short-term investments (793) (9,680)
Purchases of property and equipment, net (437) (823)
Software development costs (247) --
Net cash used in investing activities (1,477) (10,503)
Cash flows from financing activities:
Public offering costs (103) --
Proceeds from exercise of stock options 209 605
Payments on notes payable and capital
lease obligations (128) (83)
Net cash provided by (used in) financing
activities (22) 522
Effect of exchange rate changes on cash
and cash equivalents (1) --
Net increase (decrease) in cash and cash
equivalents 2,268 (4,038)
Cash and cash equivalents, beginning of
period 26,506 56,541
Cash and cash equivalents, end of period $ 28,774 $ 52,503
Other Supplemental Information
We define non-GAAP income from operations as income from operations excluding amortization of acquired intangible assets and stock-based compensation. We define non-GAAP net income as net income excluding amortization of acquired intangible assets and stock-based compensation. Amortization of intangible assets recorded in connection with our acquisitions consist of non-compete agreements, trade names, purchased technology and customer relationships that are not expected to be replaced when fully amortized, as might a depreciable tangible asset. Companies record stock-based compensation under SFAS No. 123R by applying varying valuation methodologies and subjective assumptions to different types of equity awards. Management uses non-GAAP income from operations and non-GAAP net income to evaluate operating performance and determine incentive compensation and to prepare operating budgets and determine the appropriate levels of capital investments. Management believes the exclusion of amortization of acquired intangible assets and stock-based compensation under SFAS No. 123R allows management and investors to make meaningful comparisons between our operating results and those of other companies, as well as providing a consistent comparison of our relative historical financial performance. However, management believes that non-GAAP income from operations and non-GAAP net income are subject to material limitations since they may not be indicative of ongoing operating results.
We define free cash flow as cash flow from operations less net capital expenditures and capitalized software development costs plus excess tax benefits from stock-based compensation. Management considers free cash flow to be a liquidity measure which provides useful information to management and investors regarding our ability to generate cash from business operations that is available for acquisitions and other investments. Management also uses free cash flow as a measure to evaluate performance and determine incentive compensation. Our definition of free cash flow may be different from definitions used by other companies.
Management compensates for the limitations in the use of non-GAAP financial measures by also utilizing GAAP financial measures and by providing investors with a detailed reconciliation between the Company's GAAP and non- GAAP financial results. Investors are advised to carefully review and consider this information as well as the GAAP financial results that are disclosed in the Company's SEC filings.
Vocus, Inc. and Subsidiaries
Reconciliation of Non-GAAP Measures
(dollars in thousands, except per share data)
Three Months Ended
March 31,
2007 2008
(unaudited) (unaudited)
Reconciliation of GAAP loss from
operations to non-GAAP income from
operations:
Loss from operations $ (370) $ (297)
Amortization of intangible assets
(including $30 in cost of revenues
for the three months ended March 31,
2007 and 2008) 753 735
Stock-based compensation 1,138 2,437
Non-GAAP income from operations $ 1,521 $ 2,875
Reconciliation of GAAP net income (loss)
to non-GAAP net income:
Net income (loss) $ 2 $ (403)
Amortization of intangible assets
(including $30 in cost of revenues
for the three months ended March 31,
2007 and 2008) 753 735
Stock-based compensation 1,138 2,437
Non-GAAP net income $ 1,893 $ 2,769
Non-GAAP net income per share:
Non-GAAP diluted $ 0.11 $ 0.14
Weighted average shares outstanding used
in computing per share amounts:
Non-GAAP diluted 17,489,759 19,708,202
Reconciliation of GAAP diluted weighted
average shares outstanding to non-GAAP
diluted weighted average shares
outstanding:
Diluted weighted average shares
outstanding 16,598,471 17,682,504
Treasury stock effect of outstanding
equity securities -- 926,151
Treasury stock effect on outstanding
equity securities of SFAS No. 123R 891,288 1,099,547
Non-GAAP diluted weighted average shares
outstanding 17,489,759 19,708,202
Supplemental information of stock-based
compensation included in:
Cost of revenues $ 115 $ 265
Sales and marketing 326 669
Research and development 110 181
General and administrative 587 1,322
Total stock-based compensation $ 1,138 $ 2,437
Reconciliation of cash flow from
operations to free cash flow:
Net cash provided by operating
activities $ 3,768 $ 5,943
Purchases of property and equipment,
net (437) (823)
Software development costs (247) --
Excess tax benefits from stock-based -- --
compensation
Free cash flow $ 3,084 $ 5,120
Vocus, Inc.
CONTACT: Robin Lane of Vocus, Inc., +1-301-683-6022, rlane@vocus.com
Web site: http://www.vocus.com/
ANADIGICS Announces First Quarter 2008 ResultsAchieves Record Quarterly Net Sales of $74.4 million; up 10% sequentially and 50% From Year Ago QuarterDelivers Quarterly GAAP EPS of $0.07; Pro Forma Diluted EPS of $0.15
WARREN, N.J., April 22 /PRNewswire-FirstCall/ -- ANADIGICS, Inc. , a leading provider of semiconductor solutions in the rapidly growing broadband wireless and wireline communications markets, reported record first quarter 2008 net sales of $74.4 million, an increase of 10% compared with net sales of $67.6 million in the prior quarter, and an increase of 50% compared to net sales of $49.6 million in the year ago quarter.
Net income was $3.9 million, or $0.07 per share, compared with $2.9 million, or $0.05 per share, in the prior quarter and net loss of $1.2 million, or $0.02 per share, in the year ago quarter. Pro forma income for the first quarter 2008, which excludes non-cash stock compensation expense, discontinued operations and an impairment charge of $0.8 million on the company's investment in auction rate securities, was $9.2 million, or $0.15 per diluted share, compared with $7.8 million, or $0.13 per diluted share, in the prior quarter and $3.7 million, or $0.08 per diluted share, in the year ago quarter.
"ANADIGICS performance in the first quarter exemplifies our commitment to our business execution strategies," said Dr. Bami Bastani, President and Chief Executive Officer. "We continue to implement our market share expansion plans and have created deeper relationships with our customers and suppliers while providing the best of breed RF products on the market today."
As of March 29, 2008 cash and short and long-term marketable securities totaled $166.5 million compared with $176.8 million at December 31, 2007.
"We continue to focus on delivering improving financial performance as evidenced by our reported first quarter 2008 financial results," said Tom Shields, Executive Vice President and Chief Financial Officer. "Our business outlook remains positive as characterized by our financial guidance for the second quarter of 2008."
Outlook for the Second Quarter 2008
Net sales for the second quarter 2008 are estimated to be in the range of $77.0 million to $79.0 million. Net sales at this level would represent an approximate 43% to 47% increase on a comparable basis with second quarter 2007. Net income per share on a GAAP basis for the second quarter 2008 is expected to approximate $0.09 to $0.11. Pro forma diluted earnings per share, excluding non-cash stock compensation expense, are expected to be in the range of approximately $0.16 - $0.17. The net income and pro forma diluted earnings per share are based on an estimated diluted weighted average outstanding common share count of 69.0 million, which includes 7.6 million dilutive shares from the Convertible Notes due 2009.
The statements regarding outlook are forward looking and actual results may differ materially. Please see safe harbor statement at the end of the press release.
This press release includes financial measures that are not in accordance with GAAP, consisting of non-GAAP, or pro forma, net income or loss and non- GAAP, or pro forma, income or loss per share. Management uses non-GAAP net income or loss and non-GAAP income or loss per share to evaluate the company's operating and financial performance in light of business objectives, for planning purposes, when publicly providing our business outlook and to facilitate period-to-period comparisons. ANADIGICS believes that these measures are useful to investors because they enhance investors' ability to review the company's business from the same perspective as the company's management and facilitate comparisons of this period's results with prior periods. These non-GAAP measures exclude charges related to stock-based compensation, an impairment of auction rate securities and discontinued operations. Non-GAAP measures are used by some investors when assessing the performance of our Company. These financial measures are not in accordance with GAAP and may differ from non-GAAP methods of accounting and reporting used by other companies. Management acknowledges that stock-based compensation is a recurring cost and is an important part of our employee's compensation and impacts their performance. However the expense is non-cash in nature and there are various valuation methodologies and assumptions used in determining stock-based compensation that may be unrelated to operations, such as volatility and current interest rates. The presentation of the additional information should not be considered a substitute for net income or loss or income or loss per share prepared in accordance with GAAP.
Limitations of non-GAAP financial measures. The primary material limitations associated with the use of non-GAAP measures as compared to the most directly comparable GAAP financial measures are (i) they may not be comparable to similarly titled measures used by other companies in ANADIGICS industry, and (ii) they exclude financial information that some may consider important in evaluating our performance. We compensate for these limitations by providing reconciliations of reported net income or loss and income or loss per share to non-GAAP net income or net loss and non-GAAP income or loss per share, respectively, within this press release.
Conference Call
ANADIGICS' senior management will conduct a conference call today at 5:00 PM Eastern time. A live audio Webcast will be available at http://www.anadigics.com/investors. A recording of the call will be available approximately two hours after the end of the call on the ANADIGICS Web site or by dialing (800) 695-0974 (available until April 29).
Recent Highlights
April 1, 2008 - ANADIGICS Announces New Power Amplifier for AWS and KPCS CDMA/EVDO Mobile Equipment
February 26, 2008 - ANADIGICS Unveils ACA2604 RF Amplifier for FTTH Applications
About ANADIGICS, Inc.
ANADIGICS, Inc. is a leading provider of semiconductor solutions in the rapidly growing broadband wireless and wireline communications markets. The Company's products include power amplifiers, tuner integrated circuits, active splitters, line amplifiers, and other components, which can be sold individually or packaged as integrated radio frequency and front end modules.
Safe Harbor Statement
Except for historical information contained herein, this press release contains projections and other forward-looking statements (as that term is defined in the Securities Exchange Act of 1934, as amended). These projections and forward-looking statements reflect the Company's current views with respect to future events and financial performance and can generally be identified as such because the context of the statement will include words such as "believe", "anticipate", "expect", or words of similar import. Similarly, statements that describe our future plans, objectives, estimates or goals are forward-looking statements. No assurances can be given, however, that these events will occur or that these projections will be achieved and actual results and developments could differ materially from those projected as a result of certain factors. Important factors that could cause actual results and developments to be materially different from those expressed or implied by such projections and forward-looking statements include those factors detailed from time to time in our reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2007, and those discussed elsewhere herein.
ANADIGICS, INC.
Consolidated Statements of Operations
(Amounts in thousands, except per share amounts, unaudited)
Three months ended
March 29, 2008 March 31, 2007
Net sales $74,369 $49,573
Cost of sales 47,764 33,287
Gross profit 26,605 16,286
Research and development expenses 14,331 9,738
Selling and administrative expenses 8,880 7,359
Operating income (loss) 3,394 (811)
Interest income 1,938 1,240
Interest expense (591) (625)
Other expense (812) -
Income (loss) from continuing operations 3,929 (196)
Loss from discontinued operations (1) - (965)
Net income (loss) $3,929 $(1,161)
Basic earnings (loss) per share
Income (loss) from continuing operations $0.07 (0.00)
Loss from discontinued operations $- $(0.02)
Net income (loss) $0.07 $(0.02)
Diluted earnings (loss) per share
Income (loss) from continuing operations $0.07 (0.00)
Loss from discontinued operations (1) $- $(0.02)
Net income (loss) $0.07 $(0.02)
Basic shares outstanding 59,310 48,314
Basic & dilutive shares outstanding 60,430 48,314
Unaudited Reconciliation of GAAP to Pro Forma Non-GAAP Financial Measures
GAAP net income (loss) $3,929 $(1,161)
Stock compensation expense in
continuing operations
Cost of sales 726 900
Research and development 1,896 1,500
Selling and administrative 1,784 1,476
Auction rate securities impairment 823 -
Loss from discontinued operations (1) - 965
Pro forma net income $9,158 $3,680
Pro forma earnings per share *
Basic $0.15 $0.08
Diluted $0.15 $0.08
(*) Calculated using related GAAP shares outstanding
(1) The loss from discontinued operations reflected the divestiture
of Telcom Devices, Inc., comprising $490 from the loss on sale and
$475 loss on operations in the first quarter 2007.
ANADIGICS, INC.
Condensed Consolidated Balance Sheets
(Amounts in thousands)
March 29, 2008 December 31, 2007
Assets (Unaudited)
Current assets:
Cash and cash equivalents $101,028 $57,786
Marketable securities 40,991 103,778
Accounts receivable 43,037 45,664
Inventory 25,495 23,989
Prepaid expenses and other
current assets 6,157 3,277
Total current assets 216,708 234,494
Marketable securities 24,507 15,248
Plant and equipment, net 89,203 76,129
Goodwill and other intangibles,
net of amortization 6,459 6,524
Other assets 958 1,066
$337,835 $333,461
Liabilities and stockholders' equity
Current liabilities:
Accounts payable $28,870 $34,184
Accrued liabilities 9,091 7,928
Total current liabilities 37,961 42,112
Other long-term liabilities 3,216 3,243
Long-term debt 38,000 38,000
Stockholders' equity 258,658 250,106
$337,835 $333,461
* The condensed balance sheet at December 31, 2007 has been derived from
the audited financial statements at such date but does not include all
the information and footnotes required by generally accepted accounting
principles for complete financial statements.
ANADIGICS, Inc.
CONTACT: Investor Relations, Thomas Shields of ANADIGICS, Inc., +1-908-412-5995, tshields@anadigics.com
Web site: http://www.anadigics.com/
Zix Corporation Leadership Continues with New Generation of Email Encryption Push DeliveryZixDirect 3.0 makes flexible, transparent delivery mechanism even easier
DALLAS, April 22 /PRNewswire-FirstCall/ -- Zix Corporation (ZixCorp(R)), , the leader in hosted services for email encryption and e-prescribing, today announced the availability of ZixDirect 3.0, allowing clients to send encrypted email using push technology through a web interface. ZixDirect 3.0 is the latest generation of the company's push technology, which instantly sends secure messages directly to a user's inbox.
"ZixCorp remains the de facto standard for hosted email encryption with more than 10 million protected email addresses in the ZixDirectory(TM). The new ZixDirect 3.0 release allows ZixCorp customers to run push technology through a web interface, allowing the user to access secure messages with nothing more than an internet browser," said Nigel Johnson vice president of product management and business development for ZixCorp. "ZixCorp's Email Encryption Service has always been easy to use, which is ideal for a health, financial or government system of any size. Our clients benefit from the elimination of the intense time and resources spent managing in-house email encryption. Our clients are able to upgrade to the new ZixDirect 3.0 transparently since both the java-based mode and web-based mode have the same look, feel and functionality."
ZixDirect 3.0 successfully maintains the quality that customers have come to expect from ZixCorp while ensuring seamless, convenient delivery of encrypted messages. With ZixDirect 3.0, there is no client software to install and encryption capabilities are not required for the recipient to read the message. ZixDirect 3.0 enables encrypted email to be "pushed" directly to the recipient's inbox without requiring Java support in their internet browser.
Email audits conducted by ZixCorp find that up to 5 percent of all outbound emails contain personal non-public information. With heightened government regulations such as HIPAA, GLBA and California SB 1386 and pending legislation to prevent identity theft, the need to secure sensitive email communication has never been higher. With ZixDirect 3.0, the email and any attachments are encrypted and sent. When the recipient clicks on the attachment, the secure message is displayed. ZixDirect 3.0 works with virtually every email system and people can read the secure email even while working offline.
In addition, the company also announced the availability of ZixVPM 3.3, which includes an encryption capability that supports FIPS 140-2 encryption between ZixVPM gateways. This encryption capability uses S/MIME with a FIPS validated cryptographic module implemented as part of ZixCorp's Best Method of Delivery, which supports five encrypted email delivery mechanisms, including S/MIME, TLS, OpenPGP, secure portal and "push" delivery.
ZixCorp is the leading hosted email encryption service provider with more than 10 million protected email addresses in the ZixDirectory, the foundation of ZixCorp's hosted email encryption service. The ZixDirectory adds substantial value to ZixCorp users through the sharing of identities in a central directory or "white pages." There are more than 1,000 hospitals in the directory, more than 30 Blues organizations, 500 financial institutions, the federal banking regulators, 19 state banking regulatory agencies and a growing number of federal, state and county governments. These customers, plus many more are enabled to send secure messages among themselves with no need for complex user intervention.
About Zix Corporation
ZixCorp is the leading provider of easy-to-use-and-deploy email encryption and e-prescribing services that Connect entities with their customers and partners to Protect and Deliver sensitive information in the healthcare, finance, insurance and government industries. ZixCorp's hosted Email Encryption Service provides an easy and cost-effective way to ensure customer privacy and regulatory compliance for corporate email. Its PocketScript(R) e- prescribing service saves lives and saves money by automating the prescription process between payors, doctors and pharmacies. For more information, visit http://www.zixcorp.com/.
Zix Corporation
CONTACT: Public Relations, Farrah Corley, +1-214-370-2175, publicrelations@zixcorp.com, or Investor Relations, Peter Wilensky, +1-214-515-7357, invest@zixcorp.com, both of ZixCorp
Web site: http://www.zixcorp.com/
John Russell, VP of Technology of Mantra Venture Group Creates Personal Wall on WallSt.net's Financial Social Community, My.WallSt.net
NEW YORK, April 22 /PRNewswire-FirstCall/ -- John Russell, Vice President of Technology of Mantra Venture Group Limited (BULLETIN BOARD: MVTG) (http://www.mantraenergy.com/) will be updating the investment community through his personal profile on My.WallSt.net available at http://www.wallst.net/. The dynamic profile will include exclusive interviews with John Russell, company blogs on which investors can comment, his personal stock watchlist, photos of company products and links to recent press.
Visit John Russell's profile on My.WallSt.net at http://my.wallst.net/profile.php?ID=20067.
Stay updated about Mantra Venture Group, ask John a question or post a comment on his personal page. Join Mantra Venture Group's message board to discuss company activity with other interested parties, "invest" in MVTG.OB through the Rookie Challenge and join his financial social network today.
About WallSt.net:
http://www.wallst.net/ is owned and operated by WallStreet Direct, Inc., a wholly owned subsidiary of Financial Media Group, Inc. (http://www.financialmediagroupinc.com/). The Web site is a leading provider of timely business news, executive interviews, multimedia content, and research tools. Financial Media Group, Inc. also owns http://my.wallst.net/, a financial social network for investors, and Financial Filings Corp. (http://www.financialfilings.com/), a provider of compliance solutions to publicly traded companies. We have received nine hundred ninety five dollars from Mantra Venture Group Limited for media and advertising services. In addition to WallSt.net, WallStreet Direct, Inc. owns and operates WallStRadio (http://www.wallstradio.com/), a business and finance podcast Web site.
About Mantra Venture Group:
Mantra, through its group of sustainable energy, carbon reduction and consumer product subsidiaries, is set to enter the burgeoning green technology marketplace with an innovative, multi-faceted approach focused on profitability through sustainability. By aggressively seeking out new technologies and innovating solutions for a cleaner earth, Mantra intends to provide a highly profitable and, more importantly, socially and environmentally responsible investment for its shareholders.
Mantra is a public company quoted on the OTCBB under the symbol MVTG and the Frankfurt Stock Exchange under the symbol EDV 5MV.
Contact: Mantra Venture Group
(877) 609-2898
Mantra Venture Group Limited
CONTACT: Mantra Venture Group, 1-877-609-2898
Web site: http://www.mantraenergy.com/ http://my.wallst.net/
ForgeHouse's OneVision Platform Selected By Securitas Security Services USA, Inc. as the Core of its New Security Technology Offering
ATLANTA, April 22 /PRNewswire-FirstCall/ -- ForgeHouse, Inc. (OTCBB: FOHE) today announced that Securitas Security Services USA, Inc. (Securitas USA) has chosen its OneVision-Security Platform for its new technology-based security services offering. OneVision-Security has been customized for and will be marketed by Securitas USA, as Securitas-Vision.
Jose Alonso, Founder and Chief Operating Officer of ForgeHouse, Inc., commented, "We are extremely pleased to be able to work with a customer of the stature and industry leadership as Securitas in one of our primary markets."
Bill Barthelemy, Chief Operating Officer of Securitas USA, commented on the selection of ForgeHouse and the OneVision platform, "While our people are at the core of our security services offering, adding the right technology is the key to maintaining our leadership in this industry. Securitas-Vision represents a paradigm shift in the provisioning of security services by bringing together Best-In-Class Security Technology with the dedication of our people to offer our clients greater effectiveness and accountability for their security dollars."
About Securitas Security Services USA, Inc.
Securitas Security Services USA, Inc., is the leading security company in North America which provides services to more than 80 percent of the Fortune 1000 companies and has annual revenues in excess of $2.7 billion. Securitas USA is the most locally-focused security company in the United States, with security officers who provide unmatched security solutions to meet the specific needs of thousands of businesses. Internationally, the Securitas Group has approximately 195,000 employees worldwide, with established operations in 30 countries and the ability to provide services in approximately 90 countries worldwide. They are committed to providing you with focused, responsive service at the local and the international levels.
About ForgeHouse, Inc.
ForgeHouse(R) is an Enterprise Application Software Solutions and Services Company. The Company is focused on providing scalable, Enterprise-class web-based solutions that increase productivity and accountability by workflow optimization. The Company's markets range from Fortune 1000 companies to Government to Small and Medium Enterprises and Businesses (SMEs and SMBs ).
About Our Solutions
OneVision-Security(TM) is a modular software platform designed to be deployed in an Enterprise or Managed-Hosted Solution (On-Demand Model) configuration. The first of a suite of web-based software solutions, OneVision, provides its customers with a simple, easy-to-use tool-set to implement, monitor, assess and validate best practices, thereby transforming a set of complex business inputs into valuable business intelligence. The OneVision-Security solution, designed specifically to address a company's Security and Safety operations, provides management and staff with tools to collect, analyze data and communicate vital actionable items, thereby minimizimg the gap between detection and effective response. It is scalable and can be easily deployed to a single site or multiple sites on a global basis. OneVision-Security is a highly effective Facilities Management Platform that can be used at individual buildings to Corporate and Education campuses to Nuclear, Chemical and Military Facilities.
To learn more about ForgeHouse's web-based OneVision-Security platform, please go to http://www.forgehouse.com/ or contact Barry Petenbrink at ForgeHouse Inc., Atlanta Georgia - Phone 770-923-7765, bpetenbrink@forgehouse.com.
For Investor Relations contact:
Innercomm Investor Relations Group
Phone: 1-877-305-1162
Fax: 1-760-682-9994
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the Company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.
ForgeHouse, Inc.
CONTACT: Barry Petenbrink of ForgeHouse Inc., +1-770-923-7765, bpetenbrink@forgehouse.com
Web Site: http://www.forgehouse.com/
AT&T Announces $400 Million Planned Investment to Bring New Technology to Consumers in Louisiana
BATON ROUGE, La., April 22 /PRNewswire-FirstCall/ -- AT&T Inc. announced plans to invest approximately $400 million over the next several years in fiber network upgrades, further broadband deployment and Internet-based technologies to bring new services to Louisiana consumers, including cutting-edge television, upon passage of statewide video franchise legislation.
This announcement is a direct result of the Louisiana Legislature's consideration of the Consumer Choice for Television Act, Senate Bill 422 and House Bill 1009.
As introduced, the Consumer Choice for Television Act will enable companies that want to provide competitive video services to obtain a state-issued franchise rather than negotiate with individual municipalities, a process that often takes years to complete.
"We commend the authors of the bill, Sen. Ann Duplessis and Rep. Noble Ellington, for their vision to ensure that Louisiana is not left behind in efforts to give consumers more choices in the video services market," said William A. Oliver, president of AT&T Louisiana. "Passage of the bill will give consumers a new world of communications and entertainment. We look forward to delivering advanced television, voice and Internet services to Louisiana."
"This legislation will give Louisiana consumers more choices and deliver the benefits of competition, including the opportunity for lower prices, better customer service and new products," said Duplessis. "I want my constituents and other Louisiana consumers to reap the benefits of competition as quickly as possible."
"Today's announcement by AT&T has the potential to be a real economic boost for our state," said Ellington. "This is proof that eliminating the barriers to competition not only brings choice to consumers but that it also encourages investment in our state. In turn, investment in next-generation broadband network infrastructure will help bring new technology and jobs to Louisiana."
In part, the new technology upgrades being considered by AT&T will support Internet Protocol (IP)-based television, high speed Internet and Voice over IP (VoIP) services.
AT&T is the only national provider to offer a 100 percent IP-based television service, making U-verse(SM) TV one of the most robust and feature-rich services available today.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this press release contains forward-looking statements and financial estimates that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this document based on new information or otherwise.
About AT&T
AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.
(C) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.
Note: This AT&T news release and other announcements are available as part of an RSS feed at http://www.att.com/rss. For more information, please review this announcement in the AT&T newsroom at http://www.att.com/newsroom.
AT&T Inc.
CONTACT: Karen Beck of AT&T Inc., +1-504-528-2208, cell +1-504-722-9332, karen.beck@att.com
Web site: http://www.att.com/
Synaptics ClearTouch(TM) Technology Takes Touch Interfaces to the Next LevelDesigners Can Move Beyond Buttons by Integrating Transparent Sensor Controls
SANTA CLARA, Calif., April 22 /PRNewswire-FirstCall/ -- Synaptics Inc. , a leading developer of human interface solutions for mobile computing, communications, and entertainment devices, announced its ClearTouch(TM) product portfolio ClearPad(TM) and ClearArray(TM) sensors are available for a wide range of consumer electronics that require transparent touch-sensitive user interfaces.
Synaptics' ClearTouch(TM) products are designed for durability, low power consumption, and easy integration. They enable attractive and intuitive user interfaces to meet the rigorous needs of consumer electronics. Patented ClearPad technology builds on the capacitive touch sensing technology used in over 400 million TouchPad devices. Synaptics has over a decade of experience in clear, two-dimensional, capacitive touch sensing. All ClearTouch solutions can operate under glass or plastic, resulting in robust devices with slim form factors and sleek industrial designs.
"Next-generation handsets will greatly benefit from touchscreen technology," said Bill Morelli, research analyst at IMS. "Synaptics ClearTouch sensors provide an ideal solution and are well suited to a wide range of handset styles."
ClearPad
A ClearPad sensor was the key feature in Synaptics' pioneering Onyx concept touchscreen phone demonstrated in August 2006. ClearPad provides a robust, intuitive, and high-resolution touchscreen interface solution for today's mobile devices -- including mobile phones, portable music players, and handheld GPS devices.
ClearArray
Synaptics' ClearArray interface solutions support buttons and scrolling in fixed locations over a display, a cost-optimized touchscreen solution. ClearArray sensors can even be used in monitors and kiosk-style devices as an alternative to mechanical buttons. These transparent sensors enable manufacturers to differentiate their products according to their target price point, industrial design requirements, and the desired end-user experience.
Capacitive vs. Resistive - How to Tell the Difference
Resistive touchscreens respond to pressure. When a user presses the screen, a top layer of flexible material makes contact with the lower layer to indicate the location of the user's finger or stylus. The mechanical flexing of a resistive sensor reduces its durability and the air gap affects optical quality. Resistive interfaces also require frequent end-user calibration. Capacitive solutions such as Synaptics ClearTouch use a grid of conductive traces implemented on a clear substrate such as polyethylene terephthalate (PET) film or glass to accurately report one or more finger positions and relative pressure on a sensor. Synaptics ClearTouch solutions offer superior optics, are solid state, and require no end-user calibration.
As the number and sophistication of handheld applications proliferate, touchscreen technology is a must have for future devices. With multimedia- and communication-rich functionality, handheld devices require innovative interface technology to make accessing and managing applications and content easy for the end user. ClearTouch solutions unlock the potential of advanced devices with a lot of functionality through an intuitive interface that the average user can use without reading a manual.
"Synaptics' proven capacitive sensing technology has been used in more than 400 million devices," said Andrew Hsu, strategic and technical marketing manager at Synaptics. "The ClearTouch product family enables users of next-generation data and media-centric handheld devices to enjoy an intuitive, accurate, responsive, and durable touchscreen interface."
Gesture Technology
Synaptics ClearPad solution includes integral detection of gestures such as single-finger Tap, Double Tap, Tap & Hold/Tap & Slide, Press, and Flick, as well as two-finger Pinch.
Availability: Synaptics ClearTouch solutions are available now to device manufacturers. More information on Synaptics' transparent capacitive touch sensors can be found at http://www.synaptics.com/products/cleartouch.cfm
About Synaptics
Synaptics is a leading developer of human interface solutions for the mobile computing, communications, and entertainment industries. The company creates interface solutions for a variety of devices including notebook PCs, PC peripherals, digital music players, and mobile phones. The TouchPad(TM), Synaptics' flagship product, is integrated into a majority of today's notebook computers. Consumer electronics and computing manufacturers use Synaptics' solutions to enrich the interaction between humans and intelligent devices through improved usability, functionality, and industrial design. The company is headquartered in Santa Clara, Calif. http://www.synaptics.com/
Synaptics, ClearTouch, ClearPad, ClearArray, OneTouch, TouchPad, and the Synaptics logo are trademarks of Synaptics in the United States and/or other countries.
All other marks are the property of their respective owners.
For further information, please contact:
Rebecca Parr Tara Yingst
Synaptics Edelman
408-454-5178 650-762-2942
rparr@synaptics.com tara.yingst@edelman.com
Synaptics Inc.
CONTACT: Rebecca Parr of Synaptics, +1-408-454-5178, rparr@synaptics.com; or Tara Yingst of Edelman, +1-650-762-2942, tara.yingst@edelman.com, for Synaptics Inc.
Web site: http://www.synaptics.com/
Global Payments Announces Agreement to Extend National Bank of Canada Marketing Alliance Agreement through 2017
ATLANTA and TORONTO, April 22 /PRNewswire-FirstCall/ -- Global Payments Inc. , a world leader in electronic transaction processing services, announced today that it has extended its Marketing Alliance Agreement with National Bank of Canada through 2017. As a result of the agreement, National Bank of Canada will continue to refer merchants exclusively to Global Payments, and its customers will continue to benefit from Global Payments' complete line of card acceptance services, including Point-of-Sale (POS) products, comprehensive credit card processing and account settlement. National Bank of Canada will also continue to provide MasterCard Canada processing sponsorship to Global Payments.
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"Global Payments is proud to share a strong relationship with National Bank of Canada and its customers, and we are honored by the extension of our Marketing Alliance Agreement," said Chairman, President, and Chief Executive Officer of Global Payments, Paul R. Garcia.
"Continuing to provide National Bank of Canada's branch network and their customers with Global Payments' wide variety of innovative Canadian payment products and services remains a cornerstone of our Canadian success," said Global Payments Canada President, Jordan E. Cohen.
National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has more than $120 billion in assets and, together with its subsidiaries, employs 16,856 people. The Bank's securities are listed on the Toronto Stock Exchange (NA: TSX). For more information, visit the Bank's website at http://www.nbc.ca/ .
Global Payments Inc. is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Latin America, Europe and the Asia-Pacific region. For more information about the company and its services, visit http://www.globalpaymentsinc.com/ .
This announcement may contain forward-looking statements pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements involve risks and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, development difficulties, foreign currency risks, costs of capital, continued certification by credit card associations, the ability to consummate and integrate acquisitions, and other risks detailed in the Company's SEC filings, including the most recently filed Form 10-Q or Form 10-K, as applicable. The Company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events.
Contact: Phyllis McNeill
770-829-8245 Voice
phyllis.mcneill@globalpay.com
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010221/ATW031LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Global Payments Inc.
CONTACT: Phyllis McNeill of Global Payments Inc., +1-770-829-8245, phyllis.mcneill@globalpay.com
Web site: http://www.globalpaymentsinc.com/ http://www.nbc.ca/
Digital Info Security Company Executes Letter of Intent with BeCompliant Corporation for the Purchase of its Email Archiving Technology and Customer Base
WESTMINSTER, Colo., April 22 /PRNewswire-FirstCall/ -- Digital Info Security Company (Pink Sheets: DGIF) (DISC) announced today that it has signed a Letter of Intent with BeCompliant Corporation (BCC) to purchase its email archiving business. The Letter of Intent is subject to the completion of a definitive merger agreement between the parties.
The purchase would include BCC's email archiving technology and customer base, providing DISC with an initial growth and potential future growth of its email archiving and compliance business. BCC will provide updates for DISC's PolicyBridge Email Archiving and Compliance solutions, broadening DISC's ability to help organizations with regulatory compliance.
For additional information about this announcement, contact DISC at 866-841-5970 or visit http://www.disecurityco.com/ and http://www.restorerex.com/.
ABOUT DIGITAL INFO SECURITY COMPANY
DISC is an Automated Service Provider (ASP) that provides outsourced IT services such as Remote Backup, Email/Instant Message Archiving & Compliance, Electronic Discovery, Email Encryption, Encrypted Online File Storage and other IT solutions to all sizes of businesses.
ABOUT BECOMPLIANT CORPORATION
BeCompliant solutions enable enterprises to ensure compliance with regulations and protect themselves against intellectual property or business critical data leakage.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Terminology such as "anticipate," "believes," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently, and other factors detailed in reports filed by the Company.
Digital Info Security Company
CONTACT: James Clark, 1-866-841-5970, for Digital Info Security Company
Web site: http://www.disecurityco.com/ http://www.restorerex.com/
Garmin Names New Manager of Investor Relations
CAYMAN ISLANDS, April 22 /PRNewswire-FirstCall/ -- Garmin Ltd. , the global leader in satellite navigation, is pleased to announce the appointment of Kerri R. Thurston as manager of investor relations, effective April 21, 2008. Ms. Thurston will report to Kevin Rauckman, chief financial officer and treasurer of Garmin Ltd., and will be responsible for Garmin's overall investor relations program and other financial duties for the company.
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Prior to joining Garmin, Thurston was the director of treasury for Interstate Bakeries Corporation in Kansas City, Missouri. She also worked for 6 years at Sprint Nextel in Overland Park, Kan., in various financial functions. Kerri earned her B.S. in accounting from Northwest Missouri State University in Maryville.
"Kerri's diverse professional background and overall financial expertise will provide Garmin with the proper mix of skills needed to serve the investor relations function," said Rauckman. "We consider investor relations to be an important function and are pleased that Kerri has joined our team."
About Garmin
The global leader in satellite navigation, Garmin Ltd. and its subsidiaries have designed, manufactured, marketed and sold navigation, communication and information devices and applications since 1989 -- most of which are enabled by GPS technology. Garmin's products serve automotive, mobile, wireless, outdoor recreation, marine, aviation, and OEM applications. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual pressroom at http://www.garmin.com/pressroom or contact the Investor Relations department at 913-397-8200. Garmin is a registered trademark of Garmin Ltd. or its subsidiaries.
Photo: http://www.newscom.com/cgi-bin/prnh/20061026/CGTH082LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Garmin Ltd.
CONTACT: Investors, Kerri Thurston, Investor Relations Manager, investor.relations@garmin.com, or Media, Ted Gartner, Senior Manager, Corporate Communications, media.relations@garmin.com, both of Garmin International, +1-913-397-8200
Web site: http://www.garmin.com/
Arbinet-thexchange Increases Presence in the Growing Middle East MarketCompany Delivers Telecom Trading, Routing and Settlement Services to Members Worldwide
BEIRUT, Lebanon, April 22 /PRNewswire-FirstCall/ -- Arbinet-thexchange, Inc. , the robust transaction platform for buying and selling voice and data capacity, announced today that the company has opened an office in Beirut to support its increased membership in the growing Middle East region.
Arbinet, which increased its worldwide membership last year, experienced Member growth in the Middle East with a number of regional service providers joining thexchange including Umniah Mobile Company, a licensed mobile operator in Jordan; Kulacom Jordan, a WiMAX operator in Jordan and Mobitel, a mobile operator located in Northern Iraq. Arbinet's 990 Members, as of year-end 2007, including the world's 10 largest international carriers, now reach more than 1,300 destinations around the world.
To thrive in the highly competitive global communications market, Middle Eastern service providers such as Umniah and Kulacom Jordan must offer their customers reliable global termination to support quality voice traffic. Arbinet's suite of services, including AssuredAxcess(sm) (AAX), PrivateExchange(sm) (PEX) and DirectAxcess(sm) (DAX), offer carriers high voice quality, superior answer seizure ratio (ASR), and the ability to execute trades with any buyer or seller around the world through a single interconnection to thexchange platform. Additionally, many of these companies join thexchange because they benefit from an efficient, outsourced settlement solution.
"Arbinet's portfolio of services offers us a quality connection to multiple operators through an efficient, cost-effective platform with faster terms and guaranteed payment," said Talal Ghaith, IP Service Manager, Umniah Mobile Company.
"We chose Arbinet to announce our Jordan DID offering to the global market, and rely on AssuredAxcess to deliver optimal outbound VoIP calls," commented Ali Awad, Chief International Business Development Officer, Kulacom Jordan.
Arbinet's offerings provide for a range of customer needs. With Voice on thexchange(sm), Members can purchase or sell capacity for specific routes while outsourcing billing and credit management to Arbinet and consolidating all buy and sell transactions into one net payment. AssuredAxcess gives carriers an efficient way to buy from an A-Z rate sheet at a fixed rate and term. DirectAxcess uses Arbinet's robust marketplace and expertise to manage retail termination on the network through the open market, which in turn gives members more choice, predictability and higher quality. Alternatively, PrivateExchange offers a private marketplace where carriers can focus on building key partnerships that might otherwise be difficult due to TDM to VoIP incompatibility, geographic limitations, credit or other issues.
"Arbinet plans to continue to focus on delivering solutions with exceptional customer service in the Middle East as this is an increasingly developing region," commented Ken Robinson, Arbinet's VP Strategic Development, Europe, Middle East and Africa. "Members are using Arbinet's portfolio of services to support both wholesale and retail voice traffic, reaching hundreds of buyers and sellers with one interconnect. Arbinet enhances Members efficiency and quality while allowing them to create new business opportunities in the market."
For the new Beirut office, Arbinet has added staff to support Arbinet's clients in the region.
The office is located at Sin El Fil, Charles Helou Street, Rizkallah & Boutros Center. For more information on Arbinet's initiatives in the Middle East please contact Elie Jeitani, Director Strategic Sales, EMEA at +961 1 513 813 or via email ejeitani@arbinet.com.
For more information on Arbinet please visit http://www.arbinet.com/.
About Arbinet
Arbinet solutions simplify the exchange of digital communications in a converging world. Arbinet offers a voice and data exchange, intelligent routing solutions, and managed termination services. Arbinet helps Members streamline operations, improve quality, and grow revenue opportunities.
Arbinet's voice and data Members, including approximately 75% of the world's 40 largest communication service providers, use Arbinet's services to buy, sell, deliver and settle transactions. These Members include fixed, mobile and VoIP carriers, ISPs and content providers from more than 60 countries who exchange voice, data, content and value added services.
Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements about the Company's strategic and business plans. Various important risks and uncertainties may cause the Company's actual results to differ materially from the results indicated by these forward-looking statements, including, without limitation: the effects and outcomes of the Company's exploration of strategic alternatives; whether any of the strategic alternatives will result in enhanced shareholder value; members (in particular, significant trading members) not trading on our exchange or utilizing our new and additional services (including data on thexchange, DirectAxcess(sm), PrivateExchange(sm), AssuredAxcess(sm), and PeeringSolutions(sm); continued volatility in the volume and mix of trading activity (including the average call duration and the mix of geographic markets traded); our uncertain and long member enrollment cycle; the failure to manage our credit risk; failure to manage our growth; pricing pressure; investment in our management team and investments in our personnel; system failures, human error and security breaches which could cause the Company to lose members and expose it to liability; and the Company's ability to obtain and enforce patent protection for our methods and technologies. For a further list and description of the risks and uncertainties the Company faces, please refer to the Company's Annual Report on Form 10-K and other filings, which have been filed with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise and such statements are current only as of the date they are made.
Kristen Massaro
STC Associates
1.212.725.1900 ext. 204
kristen@stcassociates.com
Mark Brugger
Arbinet-thexchange, Inc.
1.732.509.9160
mbrugger@arbinet.com
Arbinet-thexchange, Inc.
CONTACT: Kristen Massaro, STC Associates for Arbinet-thexchange, Inc., +1-212-725-1900 ext. 204, kristen@stcassociates.com; Mark Brugger, Arbinet-thexchange, Inc., +1-732-509-9160, mbrugger@arbinet.com
Web site: http://www.arbinet.com/
/C O R R E C T I O N -- Siemens Communications, Inc./In the news release, Siemens Announces New OpenScape(R) Contact Center Solution for the OpenScape Unified Communications Server, issued yesterday, April 21, by Siemens Communications, Inc. over PR Newswire, we are advised by the company that in the Pricing and Availability section, the second sentence should read "The package starts at $42,500 for 100 voice users..." rather than "$33,750" as originally issued inadvertently. Complete, corrected release follows:Siemens Announces New OpenScape(R) Contact Center Solution for the OpenScape Unified Communications ServerSoftware-based offering provides Voice, UC and Contact Center capabilities in one integrated package
BOCA RATON, Fla., April 21 /PRNewswire-FirstCall/ -- Siemens Communications, Inc. today introduced the OpenScape(R) Contact Center, a comprehensive voice, unified communications and customer interaction software solution designed to work with virtually any existing telephony environment. It is based on Siemens' innovative new unified communications software foundation, OpenScape Unified Communications (UC) Server, which removes the artificial legacy barriers between today's traditionally separate voice, video and unified communications systems to enable a comprehensive suite of UC applications.
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The OpenScape Contact Center offering builds on the presence-enabled HiPath(R) ProCenter Enterprise contact center application to provide a platform to enhance customer interactions across multiple segments of an enterprise, on virtually any existing communication or network infrastructure. Coupled with the OpenScape Voice Application, this robust solution supports environments of up to 7,500 active agents and includes optional voice and contact center server redundancy with automated fail-over to help ensure availability of mission critical customer interaction systems.
Leveraging the OpenScape UC Server foundation, it can provide agents with an aggregated, unified desktop client view of all contact center personnel and enterprise users' presence and availability. This enables agents to specifically address urgent, complex, or sensitive customer interactions requiring escalation beyond the contact center and drives up first contact resolution by tapping the knowledge and expertise across the enterprise in real-time.
The OpenScape Contact Center also addresses the traditional limitations of the hardware intensive site-based contact center by migrating to SIP and providing the new OpenScape UC Application, Personal Edition, soft phone and productivity desktop for each agent. This SIP-based contact center virtualization capability makes every agent a UC user, while enabling agents to work in any location equipped with just headsets and minimally configured desktops. This easy, software-based expansion of 'on-demand' agents offers enterprises dramatic opportunities to leverage their distributed resources across multiple sites, branch offices, remote or home-based locations with secure IP network access.
Also announced today, the new IP-based Voice Portal application complements the OpenScape UC Server and adds to Siemens' already robust offering by delivering a comprehensive, natural speech enabled self-service solution. The open standards-based Voice Portal solution can help enhance the experience of customers calling in to a contact center by providing enhanced self-service options as well as more seamless integration with the contact center routing engine and virtual agents. It can help improve the opportunity to resolve issues on the first call while optimizing the use of agents and technology.
"The OpenScape Contact Center solution is further evidence of Siemens' ongoing transformation into a software-oriented company and is an important piece of the OpenScape UC Server platform," said Dana Rasmussen, President of Siemens Communications, Inc. "This solution rounds out Siemens' suite of UC applications by delivering a comprehensive, robust offering that demonstrates the value of Open Communications in customer interactions."
Computacenter, an IT service and solution provider that recently migrated its contact center service to the OpenScape Contact Center, saw the new solution as a means to help achieve their stated goals as a multi-national service provider. "We saw this as a way to increase our scalability, flexibility and resiliency. We are invigorating operations across multiple European and offshore locations using a highly scalable and more cost effective software deployment model. We are looking to expand our presence and collaboration capabilities into the virtualized enterprise," said Gavin McLachlan, UK IS director at Computacenter.
Pricing and Availability
The OpenScape Contact Center packaged offering, which includes the OpenScape UC Server, OpenScape Voice, HiPath ProCenter Enterprise, and OpenScape UC Application, Personal Editions, will be generally available June 30, 2008. The package starts at $42,500 for 100 voice users, 10 agents and 1 manager. The new Voice Portal solution is currently available, with pricing based on customer configuration starting at $31,150 based a 48-port configuration.
About Siemens
Siemens AG is one of the largest global electronics and engineering companies with reported worldwide sales of $107.4 billion in 2006. Founded 160 years ago, the company is a leader in the areas of Medical, Power, Automation and Control, Transportation, Information and Communications, Lighting, Building Technologies, Water Technologies and Services and Home Appliances. With its U.S. corporate headquarters in New York City, Siemens in the USA has sales of $21.4 billion and employs approximately 70,000 people throughout all 50 states and Puerto Rico. Eleven of Siemens' worldwide businesses are based in the United States. With its global headquarters in Munich, Siemens AG and its subsidiaries employ 480,000 people in 190 countries. For more information on Siemens in the United States: http://www.usa.siemens.com/.
About Siemens Communications, Inc.
Siemens Communications, Inc. is an affiliate of Siemens Enterprise Communications GmbH & Co. KG, one of the world's leading suppliers of Unified Communications technologies. The company's unique Open Communications approach to providing software, solutions and services for enterprises of all sizes enables business processes to be more productive, faster and more secure - with any device, network or information technology infrastructure. Siemens Communications, Inc. and Siemens Enterprise Communications GmbH & Co. KG are wholly owned subsidiaries of Siemens AG, which has its global headquarters in Munich, Germany.
Note: Siemens, OpenScape and HiPath are registered trademarks of Siemens AG or its subsidiaries and affiliates. All other company, brand, product and service names are trademarks or registered trademarks of their respective holders.
This release contains forward-looking statements based on beliefs of Siemens management. The words "anticipate," "believe," "estimate," "forecast," "expect," "intend," "plan," "should," and "project" are used to identify forward-looking statements. Such statements reflect the company's current views with respect to future events and are subject to risks and uncertainties. Many factors could cause the actual results to be materially different, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. Actual results may vary materially from those projected here. Siemens does not intend or assume any obligation to update these forward-looking statements.
Photo: http://www.newscom.com/cgi-bin/prnh/20070904/SIEMENSLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk photodesk@prnewswire.com
Siemens Communications, Inc.
CONTACT: Jacob Rice, +1-561-923-8347, jacob.rice@siemens.com, or Amy Martin, +1-408-492-2785, amy.martin@siemens.com, both of Siemens Communications, Inc.
Web site: http://www.communications.usa.siemens.com/
Verizon Wireless Expands Wireless Broadband Network to Harrisonburg, Virginia and Surrounding AreasHigh-Speed Network Gives Customers Fast Wireless Access To Internet, E-mail, Mobile Music, Video, and More
LAUREL, Md., April 22 /PRNewswire/ -- Verizon Wireless customers in Harrisonburg and most of Rockingham and Augusta Counties can now access e-mail, everyday corporate data, the Internet, and more at faster speeds, check out video on their phones, download music over-the-air and play 3D games as Verizon Wireless rolls out its wireless high-speed broadband network. The rollout, which also includes portions of Waynesboro, Staunton and surrounding communities in the I-81 and I-64 corridors, allows customers to access BroadbandAccess on their laptops, e-mail on their PDAs, and V CAST Video and Music on their wireless phones.
"This is a vital area with dynamic, tech-savvy business people, students, visitors, and residents who want to stay connected," said Tami Erwin, Verizon Wireless regional president for Virginia, Washington and Maryland. "The launch of our broadband network here provides our customers with access to the very latest wireless technology."
BroadbandAccess
Based on Evolution-Data Optimized (EV-DO) Revision A (Rev. A) network technology, BroadbandAccess provides mobile workers with the ability to access their corporate information as if they were attached to the data via a high-speed wired connection but with the freedom of true mobility. Developed with a range of users in mind, the service enables large enterprises, small- to medium-sized businesses and mobile professionals to conduct business anytime, anywhere in the BroadbandAccess coverage area via a secure, true high-speed data connection.
With BroadbandAccess, business customers, residents and visitors to the area can expect average download speeds of 600 kilobits per second (kbps) to 1.4 megabits per second and average upload speeds of 500-800 kbps. That means they can download a 1 Megabyte e-mail attachment -- the equivalent of a small PowerPoint(R) presentation or a large PDF file -- in about eight seconds and upload the same-sized file in less than 13 seconds.
BroadbandAccess also enables Verizon Wireless customers to download files significantly faster than customers of wireless service providers that use different broadly deployed network technologies. Furthermore, customers who travel outside the enhanced BroadbandAccess coverage area with an EV-DO device will switch seamlessly to the company's NationalAccess service.
V CAST: Video and Music
The company's wireless broadband network also enables its V CAST multimedia services, which offer customers the ability to download full-song tracks, play cutting-edge 3D games and stream video clips straight to their handsets with top transmission speeds. With content updated daily, customers can watch dozens of on demand videos, including breaking news, weather updates, sports highlights, and the hottest entertainment clips. With V CAST Music, Verizon Wireless has built a massive full-song mobile music store that contains more than 2.8 million songs -- from well-known as well as independent artists -- that customers can download over-the-air, directly onto their V CAST Music-enabled wireless phones.
Investment
The multi-million dollar expansion includes the installation of high-tech wireless hardware and software in wireless transmission sites throughout the region. Verizon Wireless has invested more than $44 billion since it was formed -- nearly $5.5 billion on average every year -- to increase the coverage and capacity of its national network and to add new services. In the Washington/Baltimore/Virginia region, the company invested $300 million just last year, bringing the company's regional network investment to more than $1.8 billion since 2000.
Verizon Wireless was the first national wireless provider to commercially launch a high-speed wireless broadband network in the United States. These communities in Virginia are the latest to be added to the coverage. For more information about Verizon Wireless products and services, call 1-800-2 JOIN IN or go to http://www.verizonwireless.com/.
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.
Verizon Wireless
CONTACT: Sherri Cunningham, +1-202-364-5856, or John Johnson, +1-240-568-1429, John.H.Johnson@verizonwireless.com, both of Verizon Wireless
Web site: http://www.verizonwireless.com/ http://www.verizonwireless.com/multimedia
Sentry Data Systems Announces Deficit Reduction Act Compliance ToolSentinel RCM(TM) Now Provides Compliance to a Challenging New Federal Regulation
DEERFIELD BEACH, Fla., April 22 /PRNewswire/ -- Sentry Data Systems, Inc. today announced the availability of DRA Tool(TM), a new feature of its Sentinel RCM(TM) pharmacy revenue cycle management product. DRA Tool(TM) is a reporting and claims editing module that comprehensively supports the additional reporting requirements of Section 6002 of the Federal Deficit Reduction Act (DRA).
About The Deficit Reduction Act
The Federal Deficit Reduction Act (DRA), Section 6002, requires Medicaid participating ambulatory care providers to report the National Drug Code (NDC) when billing for physician administered medications on Medicaid claims. NDC numbers uniquely identify a pharmaceutical's vendor, product, and trade package size, and are maintained by the Food and Drug Administration. The previously unreported NDC is now required on claims submitted to Medicaid in addition to the currently required CPT/HCPCs codes and units.
DRA Tool(TM) Brings Comprehensive, Automated Compliance
Sentry's DRA Tool(TM) automatically matches the correct 11 digit NDCs with appropriate outpatient procedure codes to allow for uninterrupted claims payment by a state's Medicaid Program. Tracking the 11 Digit NDC provides a new mechanism for individual states to maximize their Medicaid rebates from manufacturers and is financially critical for states and responsible entities.
"Sentinel RCM's DRA Tool(TM) provides hospitals with immediate billing compliance by either electronically editing claims as they are submitted and by providing reports that comply with each state's individual requirements, " said Travis Leonardi RPh., C.P. President and Founder of Sentry Data Systems.
Existing Sentinel RCM(TM) customers need only contact Sentry for activation, and new customers can benefit from Sentry's experience in installing the required interfaces on a comprehensive list of Hospital Information Systems.
"New regulations and new compliance guidelines typically mean more work for a hospital's technical staff, but the power of the Sentinel RCM(TM) system is such that we can simply activate new features," said John Peebles, Sentry's CIO.
Sentry has a strategic alliance with Cardinal Health to bring these solutions to hospitals and health systems across the country. Steve Lawrence, Senior Vice President of Marketing for Cardinal Health's Healthcare Supply Chain Services - Pharmaceutical segment said, "Through our partnership with Sentry Data Systems, Cardinal Health is uniquely positioned to offer our customers a valuable service offering to address the challenges of the Deficit Reduction Act's reporting requirements to the state Medicaid offices."
About Sentry Data Systems, Inc.
Sentry Data Systems offers technology solutions which maximize efficiency while minimizing the administrative burden of pharmacy procurement. These products enforce compliance with an entity's policies and procedures relating to program regulations and processes. Built upon Datanex(TM), a robust informatics platform, they include Sentry's flagship products Sentinel RCM(TM) and Sentrex(TM), which address a wide variety of pharmaceutical compliance, operational and revenue management challenges.
Headquartered in Deerfield Beach, FL, Sentry currently serves clients in 15 states and its systems currently process over 260,000 healthcare transactions per day. For more information about Sentry, please visit http://www.sentryds.com/.
Sentry Data Systems, Inc.
CONTACT: John Peebles, +1-800-411-4566 x2440, john@sentryds.com
Web site: http://www.sentryds.com/
E-Marketers, ISPs Take Fresh Look at Battling Spam With Revised MAAWG Best Practices for Volume Senders
SAN FRANCISCO, April 22 /PRNewswire/ -- The Messaging Anti-Abuse Working Group (MAAWG) has released version 2.0 of its Senders Best Communications Practices defining how volume email senders can improve the deliverability of legitimate e-newsletters and permission-based e-marketing. The recommendations, originally issued last year as one of the first collaborative efforts between network operators and volume senders worldwide, has been updated to address new forms of spam and to clarify permission options.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070124/CLW180LOGO )
Available today at the MAAWG site http://www.maawg.org/, the updated best practices include new guidelines to help legitimate email avoid being mistaken for image-based junk mail, which has become a popular spamming technique. List permission and opt-in recommendations have been amended to reflect current practices, and recommended user-unsubscribe processes are clarified, along with other updates to the document, according to Dennis Dayman, MAAWG senders committee co-chair and Eloqua Corp. chief privacy officer.
"The MAAWG senders best practices are intended to help protect users' online experience by improving industry cooperation and communication. For example, in this update we advise e-marketers not to embed unsubscribe instructions in an image or icon, as many users' systems will automatically block the message or not display the icon," Dayman said.
Originally issued by MAAWG last year, the best practices were developed through the cooperative effort of the industry's largest ISPs, network operators and vendors. The original practices also were endorsed by other trade associations, such as CAUCE (Coalition Against Unsolicited Commercial Email), an organization that represents Internet users and email recipients.
About the Messaging Anti-Abuse Working Group (MAAWG)
The Messaging Anti-Abuse Working Group (MAAWG) is where the messaging industry comes together to work against spam, viruses, denial-of-service attacks and other online exploitation. MAAWG (http://www.maawg.org/) represents almost one billion mailboxes from some of the largest network operators worldwide. It is the only organization addressing messaging abuse holistically by systematically engaging all aspects of the problem, including technology, industry collaboration and public policy. MAAWG is a member of the global London Action Plan (LAP) and StopSpamAlliance, and leverages its members' depth and experience to tackle abuse on existing networks and new emerging services. Headquartered in San Francisco, Calif., MAAWG is an open forum driven by market needs and supported by major network operators and messaging providers.
MAAWG Board of Directors: AOL; AT&T ; Bell Canada; Charter Communications ; Cloudmark; Comcast ; Cox Communications; EarthLink ; France Telecom (NYSE and Euronext: FTE); Goodmail Systems; Openwave Systems ; Return Path, Inc. (Full-Member representative to the Board); Time Warner Cable; Verizon Communications; and Yahoo! Inc.
MAAWG Full Members: 1&1 Internet AG; AG Interactive; Bizanga LTD; Eloqua Corporation; Google Inc.; Internet Initiative Japan, (IIJ Nasdaq: IIJI); IronPort Systems; McAfee Inc.; MX Logic; Outblaze LTD; Return Path, Inc.; Sprint; Sun Microsystems, Inc.; Symantec; and Telefonica SA.
Complete member list at http://www.maawg.org/about/roster.
Photo: http://www.newscom.com/cgi-bin/prnh/20070124/CLW180LOGO
Messaging Anti-Abuse Working Group
CONTACT: Linda Marcus, APR, +1-714-974-6356, lmarcus@astra.cc, of Astra Communications, for Messaging Anti-Abuse Working Group
Web site: http://www.maawg.org/ http://www.maawg.org/about/roster
Perot Systems and Surgical Care Affiliates Sign Five-Year Agreement to Implement Advanced Technology Solutions
PLANO, Texas, April 22 /PRNewswire-FirstCall/ -- Perot Systems Corporation and Surgical Care Affiliates (SCA) today announced an agreement in which Perot Systems will implement advanced technology solutions to serve as a catalyst for business growth. Through this agreement, Perot Systems will help SCA improve support for its more than 2,000 physician partners and 130 outpatient surgery centers and surgical hospitals across the country. Perot Systems' services will include: strategic application assessment and advisory services, application and infrastructure support, network design and administration, service desk operation, as well as hosting for SCA's corporate computing and telecommunications environment.
"Perot Systems is confident that our world-class team of healthcare IT personnel, combined with the implementation of advanced technology solutions, will assist Surgical Care Affiliates achieve a new level of customer service and increase its competitive advantage in the marketplace. We are very excited about the opportunity to work with SCA," said Chuck Lyles, President of Perot Systems Healthcare group.
"We chose Perot Systems because they are the market leader with a deep understanding of the healthcare industry. They are trusted in the marketplace, and we know that we can rely on them to do more than just replicate our current environment. They will bring innovation and best practices into our processes, and as a result we can focus on doing what it takes to satisfy our customers" said Richard Stec, Senior Vice President of Information Technology for SCA.
About Surgical Care Affiliates
Surgical Care Affiliates, with its affiliated physicians and partners, is committed to delivering high quality surgical services to ensure a superior patient experience and clinical outcomes. One of the nation's largest providers of specialty surgical services, SCA operates more than 130 ambulatory surgery centers and surgical hospitals across the country with approximately 4,200 full-time equivalent employees and approximately 2,000 physician partners. For more information on SCA, visit http://www.scasurgery.com/.
About Perot Systems
Perot Systems is a worldwide provider of information technology services and business solutions. Through its flexible and collaborative approach, Perot Systems integrates expertise from across the company to deliver custom solutions that enable clients to accelerate growth, streamline operations and create new levels of customer value. Headquartered in Plano, Texas, Perot Systems reported 2007 revenue of $2.6 billion. The company has more than 23,000 associates located in North America, Europe, MENA and Asia. Additional information on Perot Systems is available at http://www.perotsystems.com/.
This press release contains forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. For factors that could affect our business and cause actual results to differ materially, please refer to our Annual Report on Form 10-K for the fiscal year ended December 31, 2007, as filed with the U.S. Securities and Exchange Commission and available at http://www.sec.gov/, as updated in our Quarterly Reports on Form 10-Q filed after such Form 10-K, for additional information regarding risk factors. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments, or otherwise.
MEDIA CONTACT:
PEROT SYSTEMS CORPORATION
Jonathan Moss
+1 972 577 6395
jonathan.moss@ps.net
Perot Systems Corporation
CONTACT: Jonathan Moss of Perot Systems Corporation, +1-972-577-6395, jonathan.moss@ps.net
Web site: http://www.perotsystems.com/ http://www.scasurgery.com/
Company News On-Call: http://www.prnewswire.com/comp/122686.html
EFJ, Inc. Announces First Quarter Financial Reporting Date of April 30, 2008
IRVING, Texas, April 22 /PRNewswire-FirstCall/ -- EFJ, Inc. announced today that it will release financial results for the quarter ended March 31, 2008, and has scheduled an investor webcast and conference call for 9:00 a.m. Eastern Time on Wednesday, April 30, 2008. Michael Jalbert, chairman and chief executive officer, and Jana Bell, executive vice president and chief financial officer, will host the call and will discuss EFJ, Inc.'s financial results as well as other recent Company developments.
The investor conference call will be available via live webcast on the EFJ, Inc. website at http://www.efji.com/ under the tab "Investor Relations." Investors are advised to go to the website at least 15 minutes prior to the call to register, download and install any necessary audio software. The webcast will be archived for 90 days.
To participate by telephone, the domestic dial-in number is 877-407-8031 and the international dial-in number is 201-689-8031. Participants are urged to call in to the conference call at least 10 minutes prior to the start time.
About EFJ, Inc.
Headquartered in Irving, Texas, EFJ, Inc. focuses on innovating, developing and marketing the highest quality secure communications solutions to organizations whose mission is to protect and save lives. The Company's customers include first responders in public safety and public service, the federal government, and industrial organizations. The Company's products are marketed under the EFJohnson, 3e Technologies International, and Transcrypt International names. For more information, visit http://www.efji.com/.
EFJ, Inc.
CONTACT: Sally L. Beerbower of EFJ, Inc., +1-703-744-7800, sally@qorvis.com
Web site: http://www.efji.com/
AT&T Global Business Services Unit Caps First Quarter with Major Wins, Enhancements to Core Services
SAN ANTONIO, April 22 /PRNewswire-FirstCall/ -- The Global Business Services (GBS) unit of AT&T Inc. maintained its growth trajectory in the first quarter of 2008. The growth is highlighted by major contract wins, including agreements with SAP, Starbucks and Royal Dutch Shell, and its $1 billion global investment in capabilities to serve multinational customers. On April 21, AT&T also announced a global agreement with Cisco Systems Inc. to provide an industry-first fully managed telepresence offer to multinational customers.
The business unit has continued to execute on its strategy to help both wholesale and retail customers transition from legacy packet networks to Internet Protocol (IP)-enabled data services by introducing a series of enhancements to its core portfolio of services.
AT&T's GBS unit serves the company's enterprise and wholesale customers globally, providing networking services and solutions to companies ranging from the largest multinationals to national and smaller, regionally based domestic companies, plus U.S. governmental agencies.
During the first quarter, the migration of enterprise customers to IP- enabled services accounted for a 22.9 percent increase in enterprise IP data revenues. The business unit reported 1.2 percent growth in total enterprise revenues.
GBS First- Quarter 2008 Highlights:
-- AT&T First Service Provider to Deliver Intercompany Cisco
Telepresence for Businesses Around the World (April 21)
Fully Managed AT&T Telepresence Solution Enables New Way to
Collaborate and Drive Business Productivity
http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25523
-- AT&T to Invest $1 Billion in Global Network and Services for
Multinational Customers in 2008 (March 5)
Global Networking Platform for Delivering On-Demand Network
Applications Is Key to AT&T Efforts
http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25257
-- AT&T Wins $1.6 Billion Global Deal With Shell (March 31)
Agreement Represents AT&T's Largest Contract Win to Date With
Company Headquartered Outside the U.S.;
AT&T to Connect Thousands of Locations and Manage Shell's Mobility
Needs, Delivering Services/Applications to 150,000 Shell Employees
Worldwide
http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25389
-- More Than 12 Million AT&T, Starbucks Customers to Get Free Wi-Fi
Access for a Rich In-Store Experience (Feb. 11)
New Offering Includes Two Hours of Free Wi-Fi Service Per Day for
Starbucks Card Holders Beginning This Spring
All 100,000 U.S.-Based Starbucks Partners to Receive Free Wi-Fi at
Starbucks Stores
http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25152
-- AT&T Announces Hosting Agreement With SAP America; Named a Preferred
SAP Hosting Provider (Jan. 22)
Three-Year Agreement Reinforces Company's Position as Leading
Application Services Provider
http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25070
-- AT&T Announces $20 Million Task Order to Deliver Networking Solution
for U.S. Customs and Border Protection (March 12)
Networx-Related Award Will Enable AT&T to Connect Department of
Homeland Security Operations Throughout U.S.
http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25323
-- AT&T Announces $20 Million for Nationwide Software Architecture
Systems Project for the United States Postal Service (Jan. 16)
http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25055
Other GBS First-Quarter 2008 Announcements
-- AT&T Positioned in the Leaders Quadrant in Latest Asia Pacific
Network Service Provider Magic Quadrant (Feb. 26)
Company Evaluated Among Asia Pacific Network Service Providers in
2007
http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25223
-- AT&T Expands Capacity for Wholesale Customers (Feb. 26)
Soaring IP Data Traffic Driving Increased Demand
http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25227
-- AT&T Wins Four ATLANTIC-ACM 2008 U.S. Wholesale Carrier Excellence
Awards (Feb. 26)
http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25228
-- AT&T Announces OPT-E-WAN, a Virtual Private LAN Service With
National and Global Reach (March 11)
Company Also Expands Midband Ethernet Capability by Introducing
Three New Connection Speeds Below 10 Mbps
http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25318
-- AT&T Announces $16.5 Million Contract to Deliver VPN Solution for
the Air Force Services Agency (March 18)
http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25351
First-Quarter 2008 Portfolio Enhancements
During the first quarter of 2008, AT&T's GBS unit announced these enhancements to its portfolio of services for business customers:
-- It enhanced a business's ability to integrate wireless and wireline
services with the rollout of a new version (Version 7.2) of the AT&T
Global Network Client. New features enable mobile workers to access
their corporate Virtual Private Network (VPN) by using AT&T
LaptopConnect devices, as well as support for 64-bit Windows Vista.
Also, a streamlined logon screen simplifies access to corporate
VPNs, and the software is now available in Spanish, French, German
and Japanese. For more information, and to download the network
client software, go to http://www.attnetclient.com/.
-- It also expanded the footprint of AT&T Voice DNA(SM) (network-hosted
Voice over IP), AT&T IP Flexible Reach (IP Trunking) and AT&T IP
Toll-Free Service to include 40 new metropolitan areas. The service
is now available in 164 U.S. metropolitan areas. In addition, new
AT&T Voice DNA features include AT&T Unified Messaging(SM) and new
Session Initiation Protocol (SIP) phone options. The service
continues to offer an unlimited local and long distance calling
package. For more information, go to http://www.att.com/voicedna.
-- AT&T and Aruba Networks will provide managed IP telephony and
wireless Local Area Network (LAN) networking solutions targeted at
enterprise, state and federal government, education and medical
customers. Available services include, among others, Unified
Messaging and the control of rogue wireless devices . For more
information, go to
http://www.business.att.com/service_fam_overview.jsp?repoid=ProductS
ub-Category&repoitem=eb_iptlan&serv_port=eb_voip&serv_fam=eb_iptlan&
segment=ent_biz.
-- The unit added new SIP-enabled IP features to AT&T's IP Toll-Free
Service, providing pre- and post-transfer answer capabilities to
improve call routing and handling. Agents can now receive
customer-account information and call history, as well as the
incoming call. AT&T also continues to certify new vendor equipment.
The latest to be certified is Avaya's portfolio of IP Telephony and
contact-center equipment for compatibility and interoperability with
AT&T's IP Toll-Free Service. More information can be found at
http://www.business.att.com/service_fam_overview.jsp?repoid=Product
Sub-Category&repoitem=ip_toll-
free&serv_port=eb_contact_centers&serv_fam=ip_toll-free&segment
=ent_biz.
-- The unit also introduced AT&T Application Performance Management
solutions, allowing customers to view reports and analyze their
network traffic, as well as optimize the performance of their Wide
Area Networks (WAN). For more information, go to
http://www.business.att.com/service_portfolio.jsp?repoid=ProductCate
gory&repoitem=eb_vpn&serv_port=eb_vpn&segment=ent_biz .
-- It made AT&T International Private Line full- channel service
available at OC12/STM4 speeds in India and the Philippines. Also,
AT&T now offers its End-to-End Private Line Service for OC48/STM16
speeds in Austria, Ireland, U.K., Belgium, Italy, Czech Republic,
Denmark, Netherlands, Norway, Finland, Spain, France, Sweden,
Germany, Switzerland, Japan, Singapore and Hong Kong. For more
information, go to
http://www.business.att.com/service_fam_overview.jsp?repoid=Product
Sub-Category&repoitem=eb_private_line&serv_port=eb_data_managed_
data_services&serv_fam=eb_private_line&segment=ent_biz .
General information on the AT&T Global Business Services portfolio is available at http://www.business.att.com/.
Note: This AT&T release and other news announcements are available as part of an RSS feed at http://www.att.com/rss.
About AT&T
AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.
(C) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.
AT&T Inc.
CONTACT: Michael Lordi, for AT&T, +1-908-234-6071, cell, +1-908-329-4854, mlordi@attnews.us; or Janet Wyles of AT&T, +1-908-234-6067, cell, +1-732-331-6754, wyles@att.com
Web site: http://www.att.com/
eWorld Companies, Inc. Officially Launches eWorld Music Division With Premiere Red Carpet Event in Hollywood, CA
LOS ANGELES, April 22 /PRNewswire-FirstCall/ -- eWorld Companies, Inc. (Pink Sheets: EWRC) has officially launched its eWorld Music subsidiary with an invitation-only two-day premiere red carpet event at Hollywood's renowned Knitting Factory. The purpose of the event was two-fold: (1) to celebrate the launch of eWorld Music's much-talked-about entry and early success into the online music industry, and (2) to provide a glimpse of the company's immediate and future plans to eWorld's investors and affiliates, independent artists, and music industry insiders.
By all accounts, the weekend was a huge success, with a full house turnout throughout the entire weekend. Friday night's attendees gave rousing approvals to presentations of eWorld's technologies and innovative online marketing system, punctuated by stellar performances from top independent artists including Vinyl Soul, Cal Bennett, Katya, David Thiele and Starving for Gravity. Saturday's training and educational events allowed participants to meet and question some of the music industry's most successful professionals and artists, and to attend panel discussions with topics ranging from "Maximizing Your Social Network" to "The Digital Goldmine: Making Money With Your Songs." Saturday's panels featured an impressive list of industry notables, including Patrick Arn, president of Gotham Records; Bernard Baur, award-winning journalist and instructor and artist crusader at Musician's Institute; Versa Manos, Founder of the global media firm Gorgeous Public Relations; Jean Renard, one of the industry's most notable artist managers and marketing specialists; and eWorld Music President Jim DeCicco. Between presentations, participants were treated to soulful acoustic performances by Derren Raser, Jonathan Blake, Bill Reveles and Jenny Archimede.
ABOUT EWORLD MUSIC, INC.
The business of music promotion and marketing continues to move to the Internet at an accelerating pace. eWorld Music, Inc., wholly-owned subsidiary of eWorld Companies, Inc., intends to capitalize on this trend by utilizing the parent company's patent-pending technologies to provide a revolutionary new online delivery platform for independent music artists around the globe. eWorld is aligning itself with cutting edge music companies and providing new marketing technologies and strategies that work in tandem with eWorld's Boomerang Media Station(R) and PlayTV online broadcast network to enable independent artists to upload their own content and promote and market their wares in unique ways that are sustainable and profitable to the artists. eWorld Music will also conduct a variety of online music promotional events, stage live music events in Hollywood, CA and in other U.S. and international locations, and sponsor an annual major Music Awards Show, the first of which will be held in Hollywood this November and simulcast worldwide. For more information visit http://www.eworldmusic.org/.
ABOUT EWORLDCOMPANIES, INC.
eWorld Companies, Inc. is an online marketing & advertising technologies company that develops and markets cutting edge technologies using rich media, flash, animation and 3D graphics to help individuals and businesses market and advertise on the Internet. eWorld Companies, Inc. markets and distributes these technologies through its wholly-owned subsidiary eWorld Entertainment, Inc. and its International network of Affiliates, users and strategic partners. eWorld's unique and patented Boomerang Media Station(R), named for its ability to return to the user's screen no matter what web site you visit, is a free software program that streams rich media within the actual application and remains ever-present as the user browses the Internet, offering the user one-click access to limitless entertainment experiences and convenience benefits. eWorld's WALRUS(R) system, which is downloaded along with Boomerang, continues to work in the background to provide assistance as the user searches, surfs or shops the Net, suggesting relevant topics, products and services based on the each user's browsing and searching habits. The Company's revenue model consists of six major components: (1) Advertising Revenues; (2) Affiliation Fees; (3) Affiliate Monthly Subscriptions; (4) Product Sales; (5) Technology Licensing; and (6) International Marketing License Fees.
For more information visit http://www.eworldcompanies.com/ or call (310) 471-7674.
Caution Regarding Forward-Looking Statements: This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results which are not yet available. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, the integration of acquisitions, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.
eWorld Companies, Inc.
CONTACT: eWorld Companies, Inc., +1-310-471-7674
Web site: http://www.eworldcompanies.com/ http://www.eworldmusic.org/
Gameloft's "Asphalt" Series Tops The 10-Million Sales MarkAsphalt 3: Street Rules set for Release on Nokia's n-Gage and Other High-end Telephones
PARIS, April 22 /PRNewswire-FirstCall/ -- Gameloft(R), a leading publisher and developer of video games for mobile phones, has announced its "Asphalt" game series has just topped the 10-million mark in global sales, making it one of the most downloaded mobile games in the world.
The "Asphalt" series offers street racing fans an opportunity to compete on underground urban tracks behind the wheel of the most gorgeous cars on the planet. With the introduction of Asphalt Urban GT in 2004, the ambitious title quickly gained success with its wide range of cars and breathtaking speed effects. Sales continued to escalate in 2005 with the release of Asphalt Urban GT 2, and sustained increasing growth with the release of Asphalt 3: Street Rules in 2006. Over the years, the series maintained a huge fan base, as new and improved features were added such as 3D versions, hot pursuits, and a constantly growing fleet of stunning cars.
"Consumers around the world are able to recognize a great game, which is why Asphalt was able to establish itself as the most popular mobile racing game, despite extremely tough competition," said Michel Guillemot, president, Gameloft "We are excited to welcome Asphalt into Gameloft's exclusive club where some 50 Gameloft titles have topped the million-in-sales mark; we expect several other Gameloft brands to top the 10-million-in-sales mark this year."
The Asphalt series consists of 3 titles, available in 2D or 3D versions, across 1,200 handsets and in 15 languages. The games are accessible on 150 operators in 80 countries.
The most recent version is Asphalt 3: Street Rules, a "rich game" enhanced with features which take advantage of high-end telephones with the most advanced version launching on Nokia n-Gage handsets.
The series' fourth opus will be released this summer.
Gameloft is the leading international publisher and developer of video games for mobile phones. Established in 1999, it has emerged as one of the top innovators in its field. The company creates games for mobile handsets equipped with Java, Brew or Symbian technology. The total number of games-enabled handsets is anticipated to exceed four billion units in 2011.
Partnership agreements with leading licensors and sports personalities such as Ubisoft Entertainment, Universal Pictures, ABC, Dreamworks Animations SKG, Endemol, 20th Century Fox, Viacom, Sony Pictures, Touchtone Television, Warner Bros., FifPro, Ferrari, Lamborghini, Paris Hilton, Gus Hansen, Kobe Bryant, Derek Jeter, Reggie Bush, Llewton Hewitt, Jonny Wilkinson or Robinho allow Gameloft to form strong relationships with international brands. In addition to the partnerships, Gameloft owns and operates titles such as Block Breaker Deluxe, Asphalt: Urban GT and New York Nights.
Through agreements with major telephone wireless carriers, handset manufacturers, specialized distributors and its online shop, Gameloft has a distribution network in over 80 plus countries.
Gameloft has worldwide offices in New York, San Francisco, Seattle, Montreal, Mexico, Buenos Aires, Paris, London, Cologne, Vienna, Milan, Madrid, Lisbon, Copenhagen, Warsaw, New Delhi, Seoul, Beijing, Hong Kong, Tokyo and Sydney. Gameloft is listed on Euronext Paris (ISIN: FR0000079600, Bloomberg: GFT FP, Reuters: GLFT.PA)
For more information visit http://www.gameloft.com/
(c) 2001 Gameloft - All rights reserved - Gameloft and Gameloft logo are registered trademarks of Gameloft S.A. - All rights reserved.
Gameloft
CONTACT: Press contact: Gameloft, Sanette Chao, email : sanette.chao@gameloft.com, Tel : +1-212-994-2495
eRT Among First To Receive CDISC Certification for New StandardEXPeRT(R) Data Capture product compliant with industry Operational Data Model
PHILADELPHIA, April 22 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. has received certification from the Clinical Data Interface Standards Consortium (CDISC) for its EXPeRT(R) Data Capture product, which complies with CDISC's Operational Data Model (ODM), the industry standard for clinical data acquisition and archiving. The ODM standard is gaining increasing recognition as the ideal data transport method across the entire clinical trial enterprise.
EXPeRT(R) Data Capture is an easy to use, high performance electronic data capture tool. It is an integrated component of eRT's eClinical Suite. EXPeRT(R) Data Capture is a preconfigured solution, compliant with the U.S. FDA's 21 CFR Part 11 requirements, that significantly accelerates the deployment and implementation of electronic data capture while reducing overall cost. eRT is among the first to introduce an ODM-compliant product, with EXPeRT(R) Data Capture enabling information system interoperability in clinical trials.
"eRT is a strong proponent of standards to assist the transport and processing of digital clinical data to improve medical research," says Dr. Michael McKelvey, president and CEO. "eRT was the first adopter of Health Level Seven's electrocardiogram standard, an early adopter of the E2B European standard for adverse event reporting, and now we have a certified product compliant with CDISC's ODM standard."
EXPeRT(R) Data Capture now includes built-in standardized metadata that complies with the ODM standard, giving eRT a competitive advantage and the ability to offer clients industry-leading capabilities. "To meet our clients' clinical research needs, we continue to improve our platform for electronic data capture. Our special EDC Now! program combines eRT's product and services strategy to further enable the rapid design and implementation of standards- based EDC studies," says Mr. David Laky, vice president and general manager of the Clinical Applications Group.
About eResearchTechnology, Inc.
Philadelphia-based eResearchTechnology (http://www.ert.com/) delivers technology- based products and services that enable pharmaceutical, biotechnological and medical device companies to collect, interpret and distribute cardiac safety and clinical data more efficiently. eRT is a market leader in centralized electrocardiographic (ECG) services-a core diagnostic capability-and a leading provider of technology and services that allow customers to automate and streamline data-based components of clinical trials, helping them bring new drugs to market faster.
Forward-looking statements
Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, including but not limited to 2008 financial guidance, involve a number of risks and uncertainties such as the company's ability to obtain new contracts and accurately estimate net revenues due to uncertain regulatory guidance, variability in size, scope and duration of projects, and internal issues at the sponsoring client, integration of acquisitions, competitive factors, technological development, and market demand. As a result, actual results may differ materially from any financial outlooks stated herein. Further information on potential factors that could affect the company's financial results can be found in the company's Reports on Form 10-K and 10-Q filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
eResearchTechnology, Inc.
CONTACT: David Laky of eResearchTechnology, Inc., +1-908-203-6471
Web site: http://www.ert.com/
Anacomp Introduces InvoiceLogistix for Accelerated On-Demand Invoice ProcessingNew Service Allows Users to Automate Invoice Processing With Minimal Initial Investment and IT Involvement
SAN DIEGO, April 22 /PRNewswire-FirstCall/ -- IAPP ANNUAL FORUM -- Anacomp(R) Inc., a leading business process solutions company, today announced the availability of InvoiceLogistix(TM), a new, hosted invoice processing service offering users accurate, accelerated invoice processing. The service is targeted to accounts payable (A/P) professionals who desire a reliable and cost-effective method of streamlining operations, expediting payments, and improving financial information quality. Anacomp is launching the new offering as part of its exhibition at the International Accounts Payable Professionals (IAPP) Annual Forum, taking place this week in San Diego.
Designed for rapid deployment and production, InvoiceLogistix dramatically reduces the amount of manual labor typically required to process invoices. The service leverages Anacomp's robust docHarbor(R) business platform, including high-volume document capture, scalable online document repository and flexible business process management (BPM) software-as-a-service (SaaS). InvoiceLogistix transforms incoming paper invoices into digital images from which invoice data is automatically extracted, validated, delivered into the A/P workflow for approval and payment, made available for easy access online and, ultimately, archived. By accelerating invoice processing through automation, users can decrease data-entry errors, better manage cash flow, eliminate late payment penalties and take advantage of or negotiate for early payment discounts. Furthermore, by utilizing automated invoice processing on an outsourced, on-demand basis, users can accelerate such benefits with minimal initial investment and involvement of their own IT resources.
"Competitive companies today are willing to outsource certain finance functions that are not core to their business competencies, and as such they desire solutions that are easy to use, scalable and flexible enough to meet their specific needs," said John Turner, Anacomp's Senior Vice President and Chief Technology Officer. "InvoiceLogistix meets such requirements by leveraging a proven, on-demand platform and outsourced SaaS that helps users reduce the costs, IT involvement and risks that come with implementing and adopting new technology."
Numerous industry studies illustrate the increasing costs of manually processing invoices. A recent IAPP survey placed the average cost to process an invoice at nearly $8.00, and concluded that as much as 70% of these costs were tied to manual document handling and data entry processes. According to the Institute of Management and Administration (IOMA), invoice processing costs have risen 37% over the past few years while A/P staffs have shrunk by 34%.
"AP departments are being tasked with increasing workloads in an environment where paper invoices remain the dominant medium and the volumes of which continue to rise. Meanwhile, the challenge remains to accurately extract the needed information from those invoices, even down the line item detail," added Turner. "We have many customers already scanning their invoices as part of their payment process, and InvoiceLogistix allows users to take the next step to automate and streamline the entire process for rapid, accurate payment."
Key InvoiceLogistix functions offered include:
-- Invoice reception, opening, sorting and preparation
-- Imaging and data extraction
-- Data matching and validation
-- Content management, approval workflow and export
-- Document storage -- 7.5 years included with the service
-- Reporting and analysis
-- Professional service, support and training
More information about InvoiceLogistix can be found at http://www.anacomp.com/solutions/invoicelogistix/
IAPP is dedicated to providing its members with the necessary resources to succeed in the ever-changing accounts payables environment. The group's 18th Annual Forum is being held April 20th-24th at the Manchester Grand Hyatt. More information can be found at http://www.iappnet.org/.
About Anacomp
With 40 years of experience and a passionate commitment to client services, Anacomp partners with its customers to help them realize the full potential of their business processes at the lowest total cost of ownership. Possessing one of the world's largest document repositories as well as a large, independent field services organization, Anacomp's offerings serve hundreds of original equipment manufacturing (OEM) partners and thousands of end users in insurance, financial services, government, legal, and other markets. Anacomp is headquartered in San Diego, with international headquarters in Wokingham, UK. For more information, visit http://www.anacomp.com/ or call (800) 364-9870.
InvoiceLogistix is a trademark and Anacomp and docHarbor are registered trademarks of Anacomp, Inc. All other trademarks or registered trademarks are the property of their respective owners
Anacomp Inc.
CONTACT: Rob Jensen, Senior Director of Marketing of Anacomp, Inc., +1-858-716-3549, rob.jensen@anacomp.com
Web site: http://www.anacomp.com/
Consumers in Nearly 70 West Virginia Communities Now Can Get Verizon's Fastest DSL-Based Internet ServiceHigh Speed Internet Service Offers Great Value With Downstream Speeds of Up to 7 Megabits Per Second
CHARLESTON, W.Va., April 22 /PRNewswire/ -- More than 37,000 consumers in West Virginia now have a new broadband option from Verizon, as the company introduces 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 exciting alternative to cable Internet.
Verizon's new High Speed Internet service is now available in parts of Alderson, Alloy, Alum Creek, Ansted, Barboursville, Beechbottom, Belington, Belle, Berkeley Springs, Bethany, Bradshaw, Buffalo, Burnsville, Cheat Lake, Clendenin, Delbarton, Dunbar, East Bank, Elizabeth, Fayetteville, Flat Top, Fort Gay, Franklin, Gassaway, Gauley Bridge, Gilbert, Glen Daniel, Glenville, Holden, Iaeger, Kenova, Kermit, Logan, Man, Mason, Matewan, Meadow Bridge, Middlebourne, Montgomery, Mount Hope, Nitro, Omar, Paden City, Pennsboro, Peterstown, Pineville, Rainelle, Richwood, Rivesville, Saint Albans, Salem, Sissonville, Sistersville, Sophia, Spencer, Sutton, Tunnelton, Union, Valley Mills, Valley Grove, Weirton Downtown, West Liberty, West Union, West Milford, White Sulphur, Whitesville, Williamson and Williamstown.
The new 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. Verizon now offers the 7 Mbps service to 1.6 million households and small businesses across the country.
"Verizon's 7 megabits per second High Speed Internet service is the way to go for West Virginia residents who are looking for a better alternative to high-priced cable Internet," said B. Keith Fulton, president of Verizon West Virginia. "Our super-fast Internet service 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 service."
Consumers can get more information on service availability, pricing and features by calling 1-877-483-5898 or visiting verizon.com/superspeed.
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 E-mail: 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,
ABC News Now delivers live breaking news, headlines every half hour, and
more than 25 original news, lifestyle and entertainment programs such as
"Politics Live," "What's the Buzz" and "Money Matters."
* Free sports from ESPN360: The service offers programming that includes
hundreds of hours of live games, analysis and exclusive content
on-demand with exclusive access to the Internet's best events.
* One-of-a-Kind NFL Experience Online: Customers who subscribe to Verizon
High Speed Internet and DIRECTV from Verizon enjoy the added benefit of
free access to NFL Network Game Extra, a unique service that includes
live, online broadcasts of Thursday and Saturday pro football games.
Viewers of the online broadcasts will have access to alternate camera
angles and live audio feeds and have the ability to view one of four
camera angles, or all four angles simultaneously. The online service
can be accessed anywhere in the world through any broadband connected
computer.
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: Sandra Arnette of Verizon, +1-410-393-7109, sandra.u.arnette@verizon.com
Web site: http://www.verizon.com/
Company News On-Call: http://www.prnewswire.com/comp/094251.html
Corporate Express Launches Two Online Green Shopping ToolsIn honor of Earth Day, company makes it even more convenient for customers to shop extensive environmentally preferred product offering
BROOMFIELD, Colo., April 22 /PRNewswire/ -- Corporate Express US Inc. has launched two new virtual tools for customers to browse and purchase green products: the Ecoffice(R) Source, an online virtual catalog, and the Ecoffice Way, a special shopping section on the company's premiere online ordering website E-Way.
Corporate Express US Inc., part of the Dutch-based Corporate Express NV , is a leading business-to-business supplier in the US of office and computer supplies, office furniture, facility supplies, document and print management, imaging and computer graphic supplies, promotional products and other similar products.
"We have a long-standing commitment to sustainability and the environment, and we've offered a broad selection of environmentally preferred products for quite some time," said Jay Mutschler, president of Corporate Express US. "In honor of Earth Day, we're pleased to launch two new virtual shopping tools to make it simple for our customers to buy green products."
The virtual Ecoffice Source green catalog offers many user-friendly features, including: intuitive navigation, keyword searching, a page bookmark tool, virtual sticky notes to tag products, web reporting and more. The catalog also integrates with E-Way, so customers can place orders seamlessly online, by logging on to E-Way when prompted. Find the Ecoffice Source green catalog at http://www.ecofficesource.com/ or access it from http://www.corporateexpress.com/.
Ecoffice Way is an exclusive green shopping section in http://www.eway.com/ that features the same products as the Ecoffice Source catalog and also allows shoppers to browse and purchase green products entirely online.
"We're offering two tools because our customers like to shop in different ways," said Walter Scott, vice president of Marketing and eCommerce. "About seventy percent prefer to use http://www.eway.com/, so we're giving them a convenient tool within this site. Still others like to flip through a catalog, so we're giving them a virtual version, as opposed to a printed one, to help save our Earth's resources."
Both Ecoffice Source and Ecoffice Way feature the company's comprehensive offer a breadth of green products, including:
-- Environmentally preferred Sustainable Earth(R) cleaners
-- Earthsaver(R) brand post-consumer recycled content papers
-- Furniture with green attributes
-- Compostable break room supplies
-- Eco-conscious facility supplies
-- Many more green office products
As always, customers can recycle old printed catalogs by simply giving them to their Corporate Express drivers. Customers who prefer to shop exclusively online can contact their Sales reps and request to cancel future delivery of printed catalogs.
About Corporate Express
Corporate Express provides customers with a single source of business products and services, so that they can focus their resources, energy and time on their core business. Corporate Express helps organizations to save time and maximize their productivity.
Headquartered in the Netherlands, Corporate Express NV generated 2007 annual sales of EUR 5.6 billion. The company has a widespread global distribution network spanning North America, Europe and Australia, close to 18,000 employees and operations in 21 countries. Corporate Express NV is listed on Euronext Amsterdam (Euronext: CXP) and in New York . For more information, please visit http://www.corporateexpress.com/. A copy of the company's US Sustainability Policy can be found at http://www.corporateexpress.com/sustainability.html.
Safe Harbor Statement
Statements included in this press release, which are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Such forward-looking statements are made based upon management's expectations and beliefs concerning future events impacting Corporate Express and therefore involve a number of uncertainties and risks, including, but not limited to industry conditions, changes in product supply, pricing and customer demand, competition, risks in integrating new businesses, currency fluctuations, and the other risks described from time to time in the Company's filings with the US Securities and Exchange Commission, including the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 14, 2008. As a result, the actual results of operations or financial conditions of the Company could differ materially from those expressed or implied in such forward-looking statements. Shareholders 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. The Company undertakes no obligation to update publicly or revise any forward-looking statements.
Corporate Express US Inc.
CONTACT: Van Hindes, Vice President, Communications of Corporate Express US Inc., +1-303-664-3989
Web site: http://www.corporateexpress.com/ http://www.eway.com/ http://www.ecofficesource.com/
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