Companies news of 2008-04-22 (page 4)
Over 120 Oracle Accelerate Solutions Now Available From Oracle PartnersFirst Oracle...
Semico Research Corp. Identifies MathStar's Arrix(R) Family of Semiconductor Devices as...
LSI Joins Open NAND Flash Interface Working GroupStorage leader to collaborate in...
NetSuite Announces Timing of First Quarter 2008 Financial Results Conference CallFirst...
Jack Henry & Associates to Provide Webcast of Third Quarter Fiscal 2008 Earnings Call
Actel Partners With Pigeon Point Systems to Deliver TCA Management SolutionsExpansion of...
Ituran Location and Control Ltd. Schedules its First Quarter 2008 Results Release and...
GTSI Celebrates 25 Years of Service to the Government
FranklinCovey and The SCO Group Form Strategic Relationship to Bring Collaborative Mobile...
eFuture Announces Opening of Jindian.com.cn Retail B2B Website
Imation to Showcase Solid State Drive Products at Interop ConferenceSSD PRO 7000 Named...
Atmel Unveils Industry's First Off-the-Shelf LF Antenna Driver IC for Passive Entry...
City of Portsmouth, Ohio, Shares Public Works Data Using Autodesk Geospatial...
NetSuite Announces Partnership With BT to Bring Cloud Computing Solutions to European...
Tucson Electric Power Company Unifies Business Processes with Oracle(R) Service-Oriented...
Spansion Bolsters Development Plans for Its Revolutionary MirrorBit(R) ORNAND2(TM)...
Interwoven Certifies Leading Interactive Marketing Agency Partners on Interwoven...
Southside Bank Selects Jack Henry Banking's SilverLake System(R)- $2.1 Billion Bank to...
AT&T Delivers Live and On-Demand Performances From Coachella Valley Music & Arts...
Seagate First to Ship 1 Billion Hard Drives; Expects Next Billion Within Five YearsDigital...
Perfect World Announces Strategic Investment in Chengdu Seasky Digital Entertainment
Brad Faxon Becomes First Member of ProLink's Strategic Advisory BoardLongtime PGA TOUR...
Verizon Business Helps Customers Put Communications, Information Technology to Work for...
Alliance Data's Canadian Loyalty Business Signs Multi-Year Renewal With Leading Canadian...
KVH Reports Results for First Quarter of 2008Record first quarter revenue of $23.1...
Lockheed Martin Announces First Quarter 2008 Results* First quarter earnings per share up...
Raptor Networks Technology and Pirelli to Demonstrate Virtual Chassis Performance Over...
Overland Storage Appoints Ravi Pendekanti Vice President of MarketingIndustry Veteran from...
Telanetix Announces New Demonstration CenterCompany Announces its Tenth Digital Presence...
Anixter International Inc. Reports First Quarter Net Income of $1.45 per Diluted Share on...
Over 120 Oracle Accelerate Solutions Now Available From Oracle PartnersFirst Oracle Accelerate Solutions to Leverage Oracle's Agile Product Lifecycle Management; Partners Introduce Solutions in New Countries and Industries
REDWOOD CITY, Calif., April 22 /PRNewswire-FirstCall/ --
-- Momentum continues for Oracle Accelerate as Oracle today announced 33
new Oracle Accelerate partner solutions, bringing the total number of
available solutions to 123. Certified and Certified Advantage Partners
in the Oracle(R) PartnerNetwork are now delivering Oracle Accelerate
solutions in 18 countries, including newly added Brazil, Czech
Republic, Hong Kong, Mexico, Netherlands, Sweden, Switzerland, and
across 18 industries and 42 industry sub-segments.
-- Oracle Accelerate partners are now delivering solutions across new
industries including healthcare and oil and gas and new industry
sub-segments including chemicals, consumables, downstream (oil and
gas), electronics contract manufacturing, hard goods, and logistics.
-- As midsize manufacturers are realizing that having industry-specific
Product Lifecycle Management (PLM) capabilities is critical to getting
cost-effective, quality products to market quickly, GoEngineer, Inc. is
the first partner to launch Oracle Accelerate solutions based on
Oracle's Agile PLM.
-- Oracle partners are delivering Oracle Accelerate solutions that provide
the right combination of world-class applications, rapid implementation
methodologies, and industry best practices needed to achieve the
high-quality deployments.
Rapid, Cost-Effective Implementations for Midsize Organizations
-- Oracle Accelerate solutions provide midsize organizations with
pre-packaged application bundles that offer a wide range of
industry-specific functionality and allow for rapid and affordable
best-practice implementations. Oracle Accelerate solutions are
delivered by partners who have a proven history of delivering solutions
to a customer's specific industry and geography.
-- Customers can have confidence that their Oracle Accelerate solution
offers a high quality, complete solution that is easy to implement and
allows them to stay on the upgrade path -- two critical factors for
achieving a return on their investment.
-- Today, Oracle partners are launching Oracle Accelerate solutions across
multiple industries including automotive, chemicals, consumer goods,
healthcare, high-tech, industrial manufacturing, life sciences, oil and
gas, professional services, retail and travel and transportation.
-- With this announcement, the following partners have announced their
own Oracle Accelerate solutions in their regions and across their
respective industries: Alfa Sistemi, BSC Praha, Bluestar, CA,
Centric - InOne Central Europe GmbH, DCS, DSS, E-nnovative Solutions,
Evosoft Business Relations GmbH, Fujitsu Korea, Ltd, GoEngineer, Inc.,
IBM, Jardine oneSolution, Jibe Consulting, Kynergy, Ndevr, Oakton,
PeopleNow Software, pharmaSol, Quistor, Steltix Nederlands BV,
StepWise, Systime, Triniti, and Walar.
Supporting Quotes
-- "Today, Product Lifecycle Management (PLM) solutions are widely
understood to create critical competitive advantages for manufacturers
of all sizes. Historically these solutions have been expensive and
time-consuming to implement, thereby making them impractical for
midsize manufacturers with limited budgets," said GoEngineer, Inc. Vice
President, PLM Division, Greg Katai. "Our Oracle Accelerate solutions,
based on Oracle's Agile PLM and GoEngineer's efficient and
cost-effective Jumpstart(TM) Methodology, allow midsize manufacturers
in the high-tech, industrial manufacturing and life sciences industries
to benefit from Oracle's world-class PLM capabilities, enabling them to
stay ahead of their larger competitors."
-- "Oracle Accelerate simplifies and speeds deployments, which help reduce
cost and risk and helps to make Oracle solutions easier for midsize
companies to consume," said Ovum Research Director Warren Wilson.
-- "Since August 2007, we've been focused on helping our partners leverage
Oracle Accelerate to grow their businesses in the industries and
regions where they have expertise. Our hard work and collaboration are
paying off as we achieve this milestone of over 120 total Oracle
Accelerate partner solutions," said Tony Kender, Oracle Senior Vice
President, Global Accelerate Program Office. "With Oracle Accelerate,
partners continue to see measurable results by providing high-quality
solutions to midsize companies who need to deploy affordable solutions
quickly."
Supporting Resources
News Sources
Oracle and IBM Serve Midsize Businesses
http://tinyurl.com/49qtcg
Oracle Partners Deliver 49 New Oracle Accelerate Solutions
http://tinyurl.com/4rtcuq
Oracle Announces New Business Accelerator Tool for Oracle's JD Edwards
EnterpriseOne
http://tinyurl.com/5mtd7k
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Flash Demo: Oracle Accelerate
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Related Resources
Independent Analyst Reports Regarding Oracle Software
http://tinyurl.com/yrqysu
Oracle Accelerate
http://www.oracle.com/solutions/mid/accelerate.html
About Oracle Accelerate
Oracle Accelerate is Oracle's strategy for helping Certified Partners and Certified Advantage Partners provide midsize businesses and government entities with the most complete, easy to own, industry-focused solutions. Oracle Accelerate solutions are application bundles that are developed and can be quickly implemented by qualified partners and provide a wide range of industry-specific functionality. Partners who participate in the Oracle Accelerate program are provided with Oracle Business Accelerators, rapid implementation tools, templates and process flows to enable customers to realize immediate benefit from Oracle Applications.
About Oracle
Oracle is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com/.
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Trademark
Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.
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Oracle
CONTACT: Jessica Moore of Oracle, +1-650-506-8741, jessica.moore@oracle.com; or Joan Levy of Blanc & Otus, +1-415-856-5110, jlevy@bando.com, for Oracle
Web site: http://www.oracle.com/
Semico Research Corp. Identifies MathStar's Arrix(R) Family of Semiconductor Devices as Leading New Field Programmable Computing Array (FPCA) CategoryNew Market Study Outlines Multibillion Dollar Opportunity for the Electronics Industry
HILLSBORO, Ore., April 22 /PRNewswire-FirstCall/ -- MathStar, Inc. , a fabless semiconductor company specializing in high-performance programmable logic, today announced that research analyst firm Semico Research Corp. has included the company's flagship Arrix family of field programmable object array (FPOA) semiconductor devices in a new category of products called field programmable computing arrays (FPCAs). A new Semico report, "The Market for Field Programmable Computing Arrays," details the FPCA category, which includes MathStar and other early entrants and describes a $1.9 billion market for the category by 2010.
"This breakthrough report highlights some of the large opportunities that MathStar is pursuing where traditional solutions such as field programmable gate arrays (FPGAs) and digital signal processors (DSPs) do not meet all of the customer requirements," said Doug Pihl, CEO of MathStar. "MathStar's Arrix family of FPOAs, with operating speeds up to 1 GHz, are positioned well to win in this exciting, new FPCA space."
"Semico's ongoing examination of the semiconductor industry convinces us that a burgeoning new class of programmable logic merits explicit callout," said Richard Wawrzyniak, senior market analyst, ASIC & SoC, Semico Research Corp. "Like other programmable logic devices, FPCAs are programmable and reconfigurable. However, FPCAs are differentiated from devices such FPGAs by a combination of very high performance, a coarse grained architecture, and a unique approach to interconnecting the computing elements to enable high performance, low cost, and low power consumption. These attributes are fundamental to enabling growth in markets such as broadcast video and wireless networks."
The report is available for purchase from Semico Research Corp. at http://www.semico.com/studies/moreinfo.asp?id=1051&cid=4.
About MathStar, Inc.
MathStar is a fabless semiconductor company offering best in class, high-performance programmable logic solutions. MathStar's field programmable object array (FPOA) can process arithmetic and logic operations at 1 gigahertz clock rates, which is up to four times faster than even the most advanced FPGA architectures in many applications. MathStar's Arrix family of FPOAs are high-performance programmable solutions that enable customers in the machine vision, high-performance video, medical imaging, security & surveillance and military markets to rapidly and cost effectively innovate and differentiate their products. FPOAs are available now and are supported by development tools, an expanding portfolio of IP cores, application notes and technical documentation. For more information, please visit http://www.mathstar.com/.
About Semico Research Corp.
Semico Research Corporation is a marketing and consulting research company specializing in all aspects of the semiconductor industry. Manufacturers, vendors, service providers, technology professionals and market specialists, worldwide, utilize Semico's experienced staff and in-depth research to support critical business, product and technology decisions. Semico's vision is derived from both a deep technology understanding and comprehensive research, which examines each segment of the supply chain for each market. Regular and ongoing end-user demand and primary research surveys are the foundation of the analysis, enabling Semico to provide insightful market analysis and guidance on future market opportunities.
Semico is a strategic partner with leading companies throughout the semiconductor industry, with access to an extensive worldwide electronic network, technology databases and expert personnel. Semico was founded in 1994 by a group of semiconductor industry experts and has offices in Phoenix, California, New York, Japan and Taiwan.
Statements in this press release, other than historical information, may be "forward-looking" in nature within the meaning of Section 21E the Private Securities Litigation Reform Act of 1995 and are subject to various risks, uncertainties and assumptions. These statements are based on management's current expectations, estimates and projections about MathStar and its industry and include, but are not limited to, those set forth in the section of MathStar's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2008 under the heading "Risk Factors." MathStar undertakes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
MathStar, Inc.
CONTACT: Sean Riley of MathStar, Inc., +1-503-726-5500, info@mathstar.com; or Jeff Hardison of McClenahan Bruer, +1-503-546-1000, jeff@mcbru.com, for MathStar, Inc.
Web site: http://www.mathstar.com/
LSI Joins Open NAND Flash Interface Working GroupStorage leader to collaborate in establishing NAND flash standard interface
MILPITAS, Calif., April 22 /PRNewswire-FirstCall/ -- LSI Corporation today announced that it has joined the Open NAND Flash Interface (ONFi) Working Group, an organization of industry-leading companies dedicated to simplifying the integration of NAND flash memory into consumer electronics devices, computing platforms and industrial systems.
"As a leading provider of integrated circuits for hard disk drive manufacturers and disk storage systems and software for the world's leading server OEMs, LSI is able to contribute end-to-end silicon, software and systems expertise to the ONFi initiative," said Phil Brace, senior vice president, Corporate Planning and Marketing, LSI. "Our position in the market gives us a unique opportunity to help shape the industry and capitalize on this emerging market opportunity in the future."
LSI joins more than 70 member companies participating in the ONFi initiative. Together, the companies will work to develop a standardized NAND flash interface that allows interoperability between NAND devices.
"We're pleased to welcome LSI to the ONFi Working Group," said Knut Grimsrud, ONFi chairman and Intel Fellow. "We look forward to the contribution LSI can provide through the company's breadth of expertise ranging from silicon to systems."
The ONFi Working Group was formed in 2006. Before the advancements made by the working group, use of NAND flash in end user applications was hampered by the lack of sufficient standardization. To support a new NAND flash component on a platform, host software, firmware and/or hardware changes were often required. Implementing these changes was extremely costly due to the new testing cycle required, which led to slower rates of adoption for new NAND flash components. ONFi aims to remedy this problem and speed time-to-market for NAND flash-based applications.
Further information about ONFi Working Group is available at http://www.onfi.org/index.html.
About LSI
LSI Corporation is a leading provider of innovative silicon, systems and software technologies that enable products which seamlessly bring people, information and digital content together. The company offers a broad portfolio of capabilities and services including custom and standard product ICs, adapters, systems and software that are trusted by the world's best known brands to power leading solutions in the Storage and Networking markets. More information is available at http://www.lsi.com/.
Editor's Notes:
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products, technology, etc.) are issued exclusively by PR Newswire and
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http://www.lsi.com/
2. LSI and the LSI logo design are trademarks or registered trademarks of
LSI Corporation or its subsidiaries.
3. All other brands or product names may be trademarks or registered
trademarks of their respective companies.
4. Please do not assign a Reader Service number to this release.
LSI Corporation
CONTACT: Jay Russo of LVA Communications, +1-860-739-5598, jay@lva.com, for LSI Corporation
Web site: http://www.lsilogic.com/ http://www.lsi.com/ http://www.onfi.org/index.html
NetSuite Announces Timing of First Quarter 2008 Financial Results Conference CallFirst Quarter 2008 Results to be Released on May 1, 2008, after the Market Close
SAN MATEO, Calif., April 22 /PRNewswire-FirstCall/ -- NetSuite Inc. , a leading vendor of on-demand, integrated business management software suites that provide Accounting / ERP (Enterprise Resource Planning), CRM (Customer Relationship Management) and Ecommerce software for small business, medium-sized organizations and divisions of large companies today announced that its earnings for the first quarter of 2008 will be released after the market close on Thursday, May 1, 2008. NetSuite will host a conference call to discuss the results at 2:00pm (PDT) / 5:00pm (EDT) on the same day.
(Logo: http://www.newscom.com/cgi-bin/prnh/20021024/SFTH024LOGO )
A live webcast and dial in information for the call will be available at http://www.netsuite.com/investors. An audio replay will be available between 5:00pm (PDT) May 1, 2008 and midnight (PDT) May 3, 2008. The replay will also be available on NetSuite's Investor Relations website at http://www.netsuite.com/investors.
About NetSuite
NetSuite Inc. is a leading vendor of on-demand, integrated business management software suites for small and midsized businesses. NetSuite enables companies to manage core business operations in a single system, which includes Accounting / Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Ecommerce. NetSuite's patent-pending "real-time dashboard" technology provides an easy-to-use view into up-to-date, role-specific business information.
NOTE: NetSuite and the NetSuite logo are registered service-marks of NetSuite Inc. Other marks are the property of their respective owners.
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NetSuite Inc.
CONTACT: Investor Inquiries, IR@netsuite.com, or Media Contact, Mei Li of NetSuite Inc., +1-650-627-1063, meili@netsuite.com
Web site: http://www.netsuite.com/
Jack Henry & Associates to Provide Webcast of Third Quarter Fiscal 2008 Earnings Call
MONETT, Mo., April 22 /PRNewswire-FirstCall/ -- Jack Henry & Associates, Inc. a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that it will host a live webcast of its third quarter fiscal 2008 earnings conference call on May 7, 2008. The press release announcing third quarter earnings will be issued after market-close on May 6, 2008.
The live webcast, which will begin at 7:45 a.m. Central (8:45 a.m. Eastern), can be accessed on the Jack Henry Web site at http://www.jackhenry.com/. Please log-on 10 minutes prior to the beginning of the call. An archived replay of the quarterly earnings call will be available on http://www.jackhenry.com/ approximately one hour after the live call.
About Jack Henry & Associates, Inc.(R)
Jack Henry & Associates, Inc. is a leading provider of integrated computer systems and ATM/debit card/ACH transaction processing services primarily servicing financial services organizations. Its technology solutions serve more than 8,700 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking(TM) supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar(TM) is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars(TM) provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at http://www.jackhenry.com/.
Jack Henry & Associates, Inc.
CONTACT: Analysts, Kevin D. Williams, Chief Financial Officer, +1-417-235-6652, or IR Contact, Jon Seegert, Director Investor Relations, +1-417-235-6652, both of Jack Henry & Associates, Inc.
Web site: http://www.jackhenry.com/
Actel Partners With Pigeon Point Systems to Deliver TCA Management SolutionsExpansion of Actel's TCA Offering Further Establishes Fusion PSCs as Silicon Standard for Sophisticated System Management
MOUNTAIN VIEW, Calif., April 22 /PRNewswire-FirstCall/ -- Building upon its existing portfolio for the growing TCA market, Actel Corporation today announced it has partnered with Pigeon Point Systems, the market leading supplier of TCA management components, to deliver system management platforms for higher performance applications. Leveraging Actel's single-chip, mixed-signal Fusion Programmable System Chip (PSC) with an embedded FPGA-optimized 32-bit ARM Cortex-M1 processor and optimized Pigeon Point firmware, the first products will include development kits to speed the design of Advanced Telecom Computing Architecture (ATCA) and Advanced Mezzanine Card (AMC) carrier board management controllers, all based on the Intelligent Platform Management Interface (IPMI) architecture.
Defined by the PCI Industrial Computer Manufacturers Group (PICMG), the Telecom Computing Architecture (TCA) encompasses ATCA, AdvancedMC (AMC) and the MicroTCA frameworks. An industry-standard specification experiencing rapid deployment in applications including telecommunications access, storage and data center equipment, ATCA provides manageability and redundancy at the shelf level and an IPMI-based standard management framework at the board level. According to industry estimates from market research firm VDC, the opportunity for the overall standards-based TCA system market is expected to be roughly $1.8 billion by 2009.
"As evidenced by their leading market share, Pigeon Point Systems' industry-standard firmware is broadly chosen by major telecom equipment suppliers for their development programs. For this reason, we believe this partnership with Pigeon Point will ease the widespread adoption of Fusion-based system management implementations," said Yankin Tanurhan, vice president, system solutions and advanced applications at Actel.
Fusion PSCs -- The Silicon Standard for TCA System Management
Actel's mixed-signal Fusion PSCs incorporate analog functions, embedded flash and FPGA fabric in a single chip. As a result, the Actel Fusion PSC can integrate system management functions and offer programmable flexibility, providing an implementation that reduces parts count by 25 percent and board area by roughly 33 percent. At a time when designers are searching for system and power management solutions that minimizes system cost and complexity while improving power efficiency and reliability, Actel's mixed-signal Fusion PSC family is an ideal alternative to multiple discrete devices.
"Designing a TCA management controller around a mixed-signal Fusion PSC yields a controller that is optimized for TCA and potentially integrates board-specific logic into the FPGA as well, with resulting benefits in bill of materials (BOM) costs and other areas for our mutual customers," said Mark Overgaard, president at Pigeon Point Systems. "Fusion PSCs with an embedded soft ARM Cortex-M1 processor give TCA designers a new high-performance option for easily managing the critical system functions that affect the efficiency and power consumption of their systems."
"Our existing Fusion-based, turnkey MicroTCA platforms have experienced tremendous success. The combination of our mixed-signal Fusion PSC, industry-leading Pigeon Point firmware, the FPGA-optimized ARM Cortex-M-1 processor, and reference designs represents a platform able to support even higher performance TCA applications, giving us reason to expect this trend to continue as we roll out our new TCA offerings over the coming quarters," Tanurhan continued.
Availability
The first turn key solutions developed by Actel and Pigeon Point Systems will be available in Q3 2008 as development kits for ATCA blade IPMCs and for ATCA AMC carrier IPMCs, implemented on a common bench top development board platform. For more information on pricing and availability, contact Actel.
About Actel
Attacking power consumption from both the chip and the system levels, Actel Corporation's innovative FPGAs and programmable system chip solutions enable power-efficient design. The company is traded on the NASDAQ National Market under the symbol ACTL and is headquartered at 2061 Stierlin Court, Mountain View, Calif., 94043-4655. For more information about Actel, visit http://www.actel.com/.
The Actel name, logo, Actel Fusion and Actel IGLOO are trademarks of Actel Corporation. All other trademarks and service marks are the property of their respective owners.
Actel Corporation
CONTACT: Stephanie Mrus of Actel Corporation, +1-650-318-4614, stephanie.mrus@actel.com; or Diane Orr of Orr & Company, +1-408-358-1617, diane@orr-co.com, for Actel Corporation
Web site: http://www.actel.com/
Ituran Location and Control Ltd. Schedules its First Quarter 2008 Results Release and Conference Call for Wednesday, May 14, 2008Conference Call Scheduled at 10am ET
AZOUR, Israel, April 22 /PRNewswire-FirstCall/ -- Ituran Location and Control Ltd. , announced that it will be releasing its first quarter 2008 results on Wednesday, May 14, 2008, before the US market opens.
The company will also be hosting a conference call later that day at 10am Eastern Time. On the call, management will review and discuss the results, and will be available to answer investor questions.
To participate, please call one of the following teleconferencing numbers. Please begin placing your calls 10 minutes before the conference call commences.
US Dial-in Number: 1-888-642-5032
UK Dial-in Number: 0-800-051-8913
ISRAEL Dial-in Number: 03-918-0688
INTERNATIONAL Dial-in Number: +972-3-918-0688
At:
10:00am Eastern Time, 7:00am Pacific Time, 5:00pm Israel Time
For those unable to listen to the live call, a replay of the call will be available from the day after the call in the investor relations section of Ituran's website, at: http://www.ituran.com/
About Ituran
Ituran provides location-based services, consisting predominantly of stolen vehicle recovery and tracking services, as well as wireless communications products used in connection with its location-based services and various other applications. Ituran offers mobile asset location, Stolen Vehicle Recovery, management & control services for vehicles, cargo and personal security. Ituran's subscriber base has been growing significantly since the Company's inception to over 444,000 subscribers distributed globally. Established in 1995, Ituran has approximately 900 employees worldwide, provides its location based services and has a market leading position in Israel, Brazil, Argentina and the United States.
International Investor Relations
Ehud Helft / Kenny Green
info@gkir.com
GK Investor Relations
(US) +1-646 201 9246
Investor Relations in Israel
Oded Ben Horin
oded@km-ir.co.il
KM Investor Relations
(Israel) +972-3-5167620
Ituran Location and Control Ltd
CONTACT: International Investor Relations: Ehud Helft / Kenny Green, info@gkir.com, GK Investor Relations, (US) +1-646-201-9246. Investor Relations in Israel, Oded Ben Horin, oded@km-ir.co.il, KM Investor Relations, (Israel) +972-3-5167620
GTSI Celebrates 25 Years of Service to the Government
CHANTILLY, Va., April 22 /PRNewswire-FirstCall/ -- GTSI Corp.(R) , an enterprise solutions and services provider to government, yesterday celebrated 25 years of continuous service to the government. Incorporated as Technology Services, Inc., on April 20,1983, GTSI began as a shrink-wrapped computer software reseller to the government but rapidly grew to take on much more enterprise-level hardware and services to meet the government's changing needs.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070712/GTSILOGO )
Services, the "S" in GTSI's original name, was an early offering for GTSI. In 1988, the company added "Government" to its name, cementing what would forever be its focus. In 1991, GTSI went public, offering a wide range of products and services to government customers.
Today, GTSI remains committed to the delivery of enterprise-level information technology infrastructure solutions and services. GTSI combines program management capability with world class delivery of professional and financial services, incorporating market-leading technology from its strategic partners who read like a "who's who" of the IT industry. GTSI is utilizing its structured Technology Lifecycle Management (TLM) process to free government customers from the burden of IT infrastructure ownership and allow them to focus on the mission.
"During the first 25 years, GTSI has seen government IT grow exponentially," said Jim Leto, GTSI CEO. "We are proud of our longevity and proud to serve our customers who ultimately serve our fellow Americans. In our quarter of a century, and in my 12 years with the company, not only has GTSI witnessed tremendous changes in the way government applies technology, but also witnessed dramatic advances within the company. Throughout all the change, we've kept our eye on serving our customers' needs.
"We are delighted with our 25 years of success, evolution and transformation. We look forward to maintaining our heritage and providing value with enterprise solutions and services. Lastly, I know that our success is attributable to all the men and women who have helped GTSI grow over the last 25 years. I am thankful for their many contributions and certainly look forward to our next 25 years!"
About GTSI Corp.
GTSI Corp. is the first information technology solutions provider offering a Technology Lifecycle Management (TLM) approach to IT infrastructure solutions delivered through industry-leading professional and financial services. GTSI employs a proactive, strategic methodology that streamlines technology lifecycle management, from initial assessment to acquisition, implementation, refresh, and disposal. TLM allows government agencies to implement solutions of national and local significance quickly and cost- effectively. GTSI's certified engineers and project managers leverage strategic partnerships with technology innovators. These experts use proven, repeatable processes to design, deploy, manage, and support simple to complex solutions, to meet governments' current and future requirements and business objectives. GTSI is headquartered in Northern Virginia, outside of Washington, D.C. Further information about the Company is available at http://www.gtsi.com/About.
GTSI and GTSI.com are registered trademarks of GTSI Corp. in the U.S. and other Countries. All trade names are the property of their respective owners.
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GTSI Corp.
CONTACT: Paul Liberty, +1-703-502-2540, paul.liberty@gtsi.com, or Fern Krauss, +1-703-502-2054, +1-301-424-9140, fern.krauss@gtsi.com, both of GTSI Corp.
Web site: http://www.gtsi.com/
FranklinCovey and The SCO Group Form Strategic Relationship to Bring Collaborative Mobile Planning Tools to Market
SALT LAKE CITY, April 22 /PRNewswire/ -- FranklinCovey , a global leader in effectiveness training, productivity tools and assessment services, and The SCO Group (Pink Sheets: SCOXQ.PK) a leading provider of UNIX software technology and mobile services announced today that they have formed a strategic relationship to market, sell and distribute new collaborative mobile planning tools developed by Me Inc., a wholly owned subsidiary of The SCO Group.
The tools, which feature Me Inc. mobile technology, will provide users with real-time access to plan and coordinate schedules, track goals, set appointments, manage and delegate tasks and utilize multimedia, all from their smart phone or PC client. The first round of new products will be available in early summer.
"FranklinCovey is pleased to enter into this agreement with Me Inc., to bring our customers new and powerful mobile planning tools that improve individual and business productivity," said Jeff Anderson, senior vice president, product management at FranklinCovey. "Me Inc.'s technology helps to fill the growing demand in the marketplace for effective mobile technologies that improve personal and group productivity rather than complicate it. The more we have worked with this collaborative product, the more convinced we are of its capability to move the needle for consumers and professionals looking for next generation mobile solutions."
Our subsidiary, Me Inc., has been working for a number of years on developing mobile technologies that help individuals and businesses take greater control over their lives and improve their effectiveness, whether at work, at home or on the go, all from the palm of their hand," said Jeff Hunsaker, president and chief operating officer of SCO Operations. "We identified FranklinCovey as the industry leader in providing tools and training for increasing personal and professional effectiveness and are excited about their stated vision and commitment to bring this product to market. We believe this partnership will be very beneficial to both companies and look forward to announcing and rolling out this new and unique mobile technology very soon."
Me Inc. a wholly owned subsidiary of The SCO Group, is an emerging leader in real-time mobile software technology, platform and applications development and marketing. Me Inc. uses unique Mobile Server platform technology to develop mobile applications that provide rich functionality, a sophisticated architecture, and unparalleled user experiences for consumers, prosumers, and business customers. Me Inc develops mobile applications and solutions that are ubiquitous in nature and compatible with all carrier networks. SCO and Me Inc. have been building mobile collaboration solutions since 2005 and bring their platform and applications to the market at a time of great opportunity.
About FranklinCovey
FranklinCovey is a leading learning and performance services firm assisting professionals and organizations in measurably increasing their effectiveness in leadership, productivity, communication and sales. Clients include 91 of the Fortune 100, more than three-quarters of the Fortune 500, thousands of small and mid-sized businesses, as well as numerous government entities. Organizations and professionals access FranklinCovey services and products through consulting services, licensed client facilitators, one-on-one coaching, public workshops, catalogs, more than 80 retail stores, and http://www.franklincovey.com/. Nearly 1,500 FranklinCovey associates provide professional services and products in 41 offices in over 130 countries.
About Me Inc.
Me Inc. is a wholly owned subsidiary of The SCO Group (Pinksheets: SCOX.PK). The Me Inc. product line focuses on creating mobile platforms, services and solutions for businesses, consumers and social networks while enhancing the productivity of mobile workers. Headquartered in Lindon, Utah, SCO has a worldwide network of resellers and developers. Me Inc. Global Services provides reliable localized support and services to partners and customers. For more information on Me Inc. products and services, visit http://www.me-inc.com/.
Me Inc. and the associated logos are trademarks or registered trademarks of The SCO Group, Inc. in the U.S. and other countries. FranklinCovey and associated logos are trademarks or registered trademarks of FranklinCovey in the U.S. and other countries.
The SCO Group
CONTACT: Debra Lund of FranklinCovey, +1-801-817-1776, debra.lund@franklincovey.com; or Jessica Beffa of Coltrin & Associates, +1- 212-221-1616, Jessica_beffa@coltrin.com, for The SCO Group
Web site: http://www.sco.com/ http://www.me-inc.com/ http://www.franklincovey.com/
eFuture Announces Opening of Jindian.com.cn Retail B2B Website
Website helps local suppliers enter retail stores across China
BEIJING, April 22 /Xinhua-PRNewswire/ -- eFuture Information Technology Inc. ("eFuture"), a leading front-end supply chain management software and service company in China and Beijing Wangku Hutong Information Technology Co., Ltd. ("Wangku"), one of China's leading retail business-to- business ("B2B") e-commerce service providers, today announced the launch of a 100-day public testing pilot of http://www.jindian.com.cn/ ("China Jindian"), a jointly-designed B2B website for small to medium-size suppliers and retailers.
"In Mandarin Chinese, 'Jindian' literally means 'enter the store,' which is exactly our goal," said Mr. Adam Yan, eFuture's chairman and chief executive officer. "Over 80 percent of local suppliers do business directly with local retailers. With China Jindian, we're leveraging our strong relationships with China's retail clients to help local suppliers enter retail stores across the country. This exciting development simplifies the supply chain and will also help our over 700 retail clients, which use over 500,000 suppliers and include many of China's top 100 retailers, expand their procurement sources, increase procurement efficiency and reduce procurement cost."
The China Jindian online platform provides a searchable database of subscriber-posted listings focusing on the retail and consumer goods industries. On the website, suppliers can post listings with product descriptions, contact information, location and in some cases videos showcasing the suppliers' factories. The postings are separated by category, brand and location and searchable by retailers, who can post requests for products and suppliers, store information and details about new store openings.
"Our leading position in e-commerce, team of over 100 partners, which have over 2,000 salespeople, and network of more than 200,000 member clients are an ideal complement to eFuture's supply chain management capabilities and relationships with China's top retailers," said Mr. Haibo Wang, Wangku's chief executive officer. "There are millions of small to medium-size retailers and suppliers in China that, while wanting to do business in the national retail market, simply don't have the medium to meet and exchange information with national retailers. China Jindian's user-friendly and reputable e-commerce platform ensures efficient communication and opens the door for future generations of retailers and suppliers in China to succeed."
About Wangku Hutong Information Technology Co., Ltd.
Wangku, through its http://www.99114.com.cn/ website, is a leading provider of B2B e-commerce service solutions focused on helping suppliers to utilize the Internet rather than traditional Industry Yellow Pages. 99114.com.cn is a B2B portal and procurement link connecting manufacturers, distributors, resellers and retailers. Wangku initiated its "Yi Wang Tong" service (a one- stop enterprise B2B e-commerce service package), which integrates the functions of accessing websites, promotion, interaction, authentication and transaction.
As one of the leading B2B e-commerce service enterprises in China, Wangku has received significant industry attention, and has been awarded one of China's "Top-100 Commercial Websites," "Top-100 Web 2.0 Websites" and "Top- 100 B2B e-Commerce Websites" for its success in the field of e-commerce.
For more information about Wangku, please visit http://www.99114.com.cn/ .
About eFuture Information Technology Inc.
eFuture is a leading provider of front-end supply chain management software and services in China. eFuture provides one-stop-shop software and service solutions to manufacturers, distributors, wholesalers, logistics companies and retailers in China's front-end supply chain market, especially in the retail and Fast Moving Consumer Goods (''FMCG'') industries. eFuture currently serves more than 900 clients, including Fortune 500 companies, over 700 retailers and over 200 distributors operating in China. eFuture is also one of IBM's premier business partners in Asia Pacific and is a strategic partner with Oracle, Microsoft, JDA, Motorola and Samsung Network China. The company has over 600 people and 20 branch offices across China.
For more information about eFuture, please visit http://www.e-future.com.cn/ .
Safe Harbor
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will, " "expects, " "anticipates, " "future, " "intends, " "plans, " "believes, " "estimates" and similar statements. Among other things, 2008 financial outlook and quotations from management in this announcement, as well as strategic and operational plans, contain forward- looking statements. eFuture may also make written or oral forward-looking statements in periodic reports to the Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to first parties. Statements that are not historical facts, including statements about the company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: eFuture's anticipated growth strategies; eFuture's future business development, results of operations and financial condition; expected changes in the company's revenues and certain cost or expense items; eFuture's ability to attract customers and leverage its brand; trends and competition in the software industry; the company's ability to hire, train and retain qualified managerial and other employees; the company's ability to develop new software's and pilot new business model at desirable locations in a timely and cost-effective manner; the expected growth of the Chinese economy software market in retail and consumer goods industries; and Chinese governmental policies relating to private managers and operators of software and applicable tax rates.
Further information regarding these and other risks is included in eFuture's annual report on Form 20-F and other documents filed with the SEC. All information provided in this press release and in the attachments is as of April 22, 2008, and the company undertakes no duty to update such information or any other forward-looking information, except as required under applicable law.
eFuture Information Technology Inc.
CONTACT: eFuture Information Technology Inc., +86-10-5165-0998 ext. 8804, or ir@e-future.com.cn; Or Andrew Keller of Ogilvy Public Relations Worldwide, Beijing, +86-10-8520-3112, or andrew.keller@ogilvy.com
Imation to Showcase Solid State Drive Products at Interop ConferenceSSD PRO 7000 Named Best of Interop Finalist
OAKDALE, Minn., April 22 /PRNewswire-FirstCall/ -- Imation Corp. , a worldwide leader in removable data storage, has been named a finalist in the Best of Interop 2008 Awards for its SSD PRO 7000 powered by Mtron and will demonstrate its Solid State Disk (SSD) portfolio at the Interop Conference and Exhibition at the Mandalay Bay Convention Center in Las Vegas next week. The first public demonstration of Imation's SSD products will take place in booth 2257, April 28-May 1, 2008.
A panel of award-winning editors and experts from InformationWeek magazine evaluated thousands of products and selected the PRO 7000 as a finalist in the Data Center and Storage category for the Best of Interop 2008 Awards. The awards recognize exhibitors that have made significant technical impact on their market, and are helping to move business technology forward.
The Imation SSD PRO 7000 delivers industry-leading drive technology, providing an ideal solution for enterprise, corporate and IT infrastructure applications with extreme performance needs. The PRO 7000 also delivers improved efficiency by accelerating drive-intensive applications, reducing overall power consumption and enhancing lifetime reliability. With extremely high sustained read and write speeds, impressive IOPS performance and virtually no seek time, the PRO 7000 can stand up to the needs of even the most intensive data center applications.
Imation's SSD portfolio also includes the MOBI 3000 Series for high performance end users. Weighing less than half of traditional hard drives, and offering reduced power consumption, this solid-state design delivers powerful results in a lightweight package rugged enough for harsh environments. Without motors or moving parts, Imation SSDs are faster, more robust and more reliable than traditional hard disk drives (HDDs), and also provide greatly improved durability and shock resistance, while reducing overall heat and noise generation.
"Many applications are well suited to take advantage of the high performance, reliability, and energy efficiency of SSDs," said Dr. Subodh Kulkarni, vice president, Global Commercial Business, R&D and Manufacturing, Imation Corp. "Interop Las Vegas provides an excellent venue to demonstrate how SSDs fit into a solid IT strategy, including enhancing the performance of Web servers, RAID storage arrays, high performance PC workstations, video surveillance and white box systems."
Interop is the leading global business technology event, bringing together IT and business leaders to learn about practical business solutions in the most comprehensive educational program available to the IT market. Interop Las Vegas will draw attendees with immediate purchasing needs and that require a comprehensive, integrated view of the technologies, tools and services that will help them make smart purchasing decisions and ease deployment throughout their organizations.
For additional information on Imation's SSD products, go to http://www.imation.com/ssd.
About Imation Corp.
Imation Corp. is the only company in the world solely focused on the development, manufacture and supply of removable data storage products spanning the four pillars of magnetic, optical, flash and removable hard disk storage. With more than 50 years of data storage leadership beginning with the development of the world's first computer tape, in 2006 Imation proudly marked its 10th anniversary as an independent company. In addition to the Imation brand, Imation Corp.'s global brand portfolio includes the Memorex brand, one of the most widely recognized names in the consumer electronics industry, famous for the slogan, "Is it live or is it Memorex?" Imation is also the exclusive licensee of the TDK Life on Record brand, one of the world's leading recording media brands. And as co-developer of Nickelodeon's Npower brand of consumer electronics, Imation helps empower kids of all ages to use the latest technology. Additional information about Imation and its brands is available at http://www.imation.com/ or by calling 1-888-466-3456.
Imation, the Imation logo, Memorex, 'Is it live or is it Memorex?' are trademarks of Imation Corp and its subsidiaries. The TDK Life on Record logo is a trademark of TDK Corporation. All other trademarks are property of their respective owners.
Imation Corp.
CONTACT: Mary Rawlings-Taylor of Imation Corp., +1-651-704-6796, mjrawlings-taylor@imation.com; or Jamie Ernst, +1-210-495-5757, jernst@brodeur.com, or Lisa Grau, +1-760-635-8640, lgrau@brodeur.com, both of Brodeur, for Imation Corp.
Web site: http://www.imation.com/
Atmel Unveils Industry's First Off-the-Shelf LF Antenna Driver IC for Passive Entry Go/Passive Go Systems
HEILBRONN, Germany, April 22 /PRNewswire-FirstCall/ -- Atmel(R) Corporation announced today the availability of the new LF coil driver IC ATA5279 designed for Passive Entry Go (PEG) and Passive Go (PG) hands-free car access systems. This is industry's first and only off-the-shelf antenna driver IC. Compared to today's discrete or ASIC solutions, this IC enables much smaller and considerably less expensive designs, while at the same time offering increased reliability.
The ATA5279 is capable of sequentially driving up to six separate 125 kHz low-frequency antennas (i.e., coils) to provide a wake-up and initialization channel to the key fob. Superior EMC behavior is guaranteed by the sinusoidal-like output signals at all six channels, which helps avoid interferences with other electronic car components. In addition, the IC has twenty individually selectable coil currents steps at each channel to enable precise field-strength measurements.
With its superior diagnostics, the ATA5279 monitors all six connected antennas and stores any possible failures in the internal register. As a result of this, the ATA5279 protects the system and itself from any damage, reducing service work at the OEM's assembly line and their authorized repair shops.
The ATA5279 is manufactured using Atmel's own BCD-on-SOI (SMART-I.S.(R)) technology, which, amongst others, results in a very low power-down current consumption of 6 uA to 8 uA, thus minimizing battery usage. The ATA5279 also meets strict automotive qualification demands by withstanding load dump and jump start scenarios as specified by ISO/TR 7637/1. The new antenna driver IC ATA5279 is, of course, fully protected against electrical and thermal overloads.
Outstanding EMC behavior, superior diagnostics and the ability to drive six separate low-frequency antennas make the ATA5279 an ideal fit for all LF 125-kHz-based Passive Entry Go (PEG) and Passive Go (PG) hands-free car access systems.
Availability and Pricing
Samples of the ATA5279 are now available in RoHS-compliant QFN48 packages measuring only 7 mm x 7 mm. Pricing starts at US $3.31 (for 10k piece quantities). To support the system designer, an LF trigger board (ATAB5279), an AVR(R)-based main board (ATAB-LFMB-79), a 3D LF receiver board (ATAB5282), and an additional LF antenna module (ATAB-LFTX-Mod1) are also available.
Footnote
ASIC = Application-Specific Integrated Circuit
BCD = Mixed technology: Bipolar CMOS DMOS
EMC = Electro Magnetic Capability
LF = Low Frequency
OEM = Original Equipment Manufacturer
PEG =Passive Entry Go
PG = Passive Go
QFN = Quad Flat No leads
RoHS = Restriction of Hazardous Substances
SOI= Silicon on Insulator
About Atmel
Atmel is a worldwide leader in the design and manufacture of microcontrollers, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components. Leveraging one of the industry's broadest intellectual property (IP) technology portfolios, Atmel is able to provide the electronics industry with complete system solutions focused on consumer, industrial, security, communications, computing and automotive markets.
(C) 2008 Atmel Corporation. All rights reserved. Atmel(R), logo and combinations thereof, AVR(R), SMART-I.S.(R), and others are registered trademarks or trademarks of Atmel Corporation or its subsidiaries. Other terms and product names may be trademarks of others.
Information
Product information on Atmel's new LF antenna driver IC ATA5279 may be retrieved at: http://www.atmel.com/dyn/products/product_card.asp?part_id=4323
Press Contacts
Dr. Susanne van Clewe, Marcom Manager Communications and Automotive
Products
Tel: +49 7131 67-2081, Email: susanne.van-clewe@atmel.com
Helen Perlegos, Public Relations
Tel: +1 408 487-2963, Email: hperlegos@atmel.com
Atmel Corporation
CONTACT: Dr. Susanne van Clewe, Marcom Manager Communications and Automotive Products, +49 7131 67-2081, susanne.van-clewe@atmel.com, or Helen Perlegos, Public Relations, +1-408-487-2963, hperlegos@atmel.com, both of Atmel
Web site: http://www.atmel.com/
City of Portsmouth, Ohio, Shares Public Works Data Using Autodesk Geospatial SolutionsWeb-based mapping system allows utility workers, engineers, and residents to access key information on-the-go
SAN RAFAEL, Calif., April 22 /PRNewswire-FirstCall/ -- Autodesk, Inc. today announced that the City of Portsmouth, Ohio, has implemented a web-based geographic information system (GIS) portal to quickly and easily share city maps and utility information in order to manage infrastructure more efficiently and effectively. Using Autodesk geospatial solutions software, city workers and engineers can remotely access online maps while in the field that feature detailed water and sewer lines, streets, waterways, and land parcel information.
"Portsmouth has a population of just over 20,000 people, but we have many of the same infrastructure challenges as much larger cities," said Michael Penn, GIS director of Portsmouth. "Using Autodesk solutions lets our users analyze and pinpoint data and information more accurately, more simply, and more productively. We had critical city information stored in various formats in separate locations, with most of it located on paper maps and large databases. With Autodesk geospatial solutions, we took all of this complex information from paper, transferred it digitally, and gave our users quicker access to data -- what used to take hours to retrieve manually, now takes only seconds online."
Using AutoCAD Map 3D and Autodesk MapGuide Enterprise software, along with Oracle Spatial database technology, Portsmouth leverages the city's existing digital design data and displays it in an easily accessible way. Autodesk's Map 3D and MapGuide software support a wide range of computer aided design (CAD) and GIS file formats, and data servers, including DWG, ESRI shapefiles, Oracle9i, and industry-standard raster formats. The seamless integration of the data helped the Portsmouth GIS Department rapidly merge new aerial photos and vector data with existing CAD and GIS data to create a unified and user- friendly mapping solution optimized for the Internet.
"The City of Portsmouth had a problem that many cities today face: how to put essential city data into a format that was both easy-to-understand and easy-to-use," said Bill Goodson, vice president, Autodesk Government. "Autodesk geospatial solutions help streamline the process of integrating digital design data in a user-friendly format so city workers can maintain the focus on managing infrastructure safely and efficiently."
AutoCAD Map 3D software is a leading engineering GIS platform for creating and managing spatial data while Autodesk MapGuide software allows government departments to develop, manage, and distribute GIS and design applications on the Internet or local intranets.
About Autodesk Government
Autodesk Government is a dedicated organization within Autodesk that has served the needs of federal and state/local government agencies for more than 20 years. Autodesk Government delivers software solutions that integrate geospatial, manufacturing, design and engineering data with other critical information to reduce the time it takes to make informed decisions. In roles that include emergency response management, physical infrastructure design and protection, mission rehearsal, simulation and training, and asset tracking, Autodesk Government is a trusted partner to help agencies ensure mission success.
About Autodesk
Autodesk, Inc. is the world leader in 2D and 3D design software for the manufacturing, building and construction, and media and entertainment markets. Since its introduction of AutoCAD software in 1982, Autodesk has developed the broadest portfolio of state-of-the-art digital prototyping solutions to help customers experience their ideas before they are real. Fortune 1000 companies rely on Autodesk for the tools to visualize, simulate and analyze real-world performance early in the design process to save time and money, enhance quality and foster innovation. For additional information about Autodesk, visit http://www.autodesk.com/.
Autodesk, AutoCAD, Autodesk MapGuide, and DWG are registered trademarks or trademarks of Autodesk, Inc., in the USA and/or other countries. All other brand names, product names, or trademarks belong to their respective holders. Autodesk reserves the right to alter product offerings and specifications at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.
(C) 2008 Autodesk, Inc. All rights reserved.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050415/SFF034LOGO)
Contact: Brett Smith, 415-547-2405
Email: Brett.smith@autodesk.com
Contact: Jennifer Tumminio, 202-828-9707
Email: jen.tumminio@fleishman.com
Photo: http://www.newscom.com/cgi-bin/prnh/20050415/SFF034LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Autodesk, Inc.
CONTACT: Brett Smith of Autodesk, Inc., +1-415-547-2405, Brett.smith@autodesk.com; or Jennifer Tumminio, +1-202-828-9707, jen.tumminio@fleishman.com, for Autodesk, Inc.
Web site: http://www.autodesk.com/
NetSuite Announces Partnership With BT to Bring Cloud Computing Solutions to European Mid-Sized BusinessesTargets BT's 1.6 Million Businesses in the UK and EMEA with NetSuite's Multi- National On-Demand Business Management Software Suites
SAN MATEO, Calif., April 22 /PRNewswire-FirstCall/ -- NetSuite Inc. , a leading vendor of on-demand, integrated business software suites that include Accounting / Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and Ecommerce software for small and midsized businesses and divisions of large companies, today announced a partnership with BT, to distribute, resell and support NetSuite in the UK and EMEA. For more information about the NetSuite BT partnership please visit http://www.netsuite.com/BT
(Logo: http://www.newscom.com/cgi-bin/prnh/20021024/SFTH024LOGO )
The BT/NetSuite announcement comes on the heels of NetSuite's introduction of NetSuite OneWorld, a new on-demand product that enables multi-national companies to manage their company in a single application. In 2004, the Department of Trade and Industry (DTI) estimated that there are 4.3 million business enterprises in the UK and 99.9 percent were small to medium-sized enterprises (SMEs), many of whom have requirements for multi-national CRM, ERP and ecommerce capabilities. The majority of these still buy separate, expensive software packages to run and manage their business. Historically, the cost associated with running and integrating data from these incompatible systems is often high. Because of this application fragmentation, the software infrastructure utilized by many companies does not allow business processes to run efficiently across front and back office functions, nor across geographic boundaries.
According to recent research by BT Business, client relationships are the most critical factor to the success of UK SMEs (43 percent). NetSuite product offerings are aimed at giving businesses an integrated set of processes that allows them to focus on improving customer satisfaction, reaching new markets, and improving business efficiency.
NetSuite's integrated business management software suites give customers one single system to manage critical business operations, which not only gives SMEs a first-rate CRM solution but also a business management solution that spans accounting, ERP and ecommerce. Most recently NetSuite unveiled NetSuite OneWorld, which enables multi-national and multi-subsidiary companies to manage their global business operations in real-time and allows multi- national, mid-sized companies to think locally and globally by unifying business operations in a single system.
"I am very excited about NetSuite's partnership with BT Business," said Zach Nelson, CEO of NetSuite. "This joint offering will bring mid-sized companies in the UK and throughout Europe capabilities that the world's largest companies have struggled to implement after spending millions."
Bill Murphy, managing director, BT Business, said: "We have looked across the market and developed this partnership to deliver innovative applications to meet the needs we know our customers have. This partnership builds on the work we've done to date and allows us to deliver a tailored approach for customers, so they get exactly what they need to manage their customer relationships, examine processes, deliver efficiencies and ultimately drive their business -- all from a single supplier they trust. With this announcement we really are changing the way small and medium-sized businesses can think about and buy their business applications, delivering them the benefits of services previously available only to larger companies."
"It's a big move to bring NetSuite to the UK and EMEA via BT," said Scott Lumish, Vice President of Business Development at NetSuite. "We look forward to working with BT to take NetSuite to millions of businesses."
BT will be offering its customers NetSuite's product offerings, which include NetSuite, NetSuite CRM+, NetSuite CRM and all other add-on modules including NetSuite OneWorld. All offerings are delivered over the Web via the software-as-a-service (SaaS) model.
About BT
BT is one of the world's leading providers of communications solutions and services operating in 170 countries. Its principal activities include the provision of local, national and international telecommunications services to our customers for use at home, at work and on the move; higher-value broadband and internet products and services and converged fixed/mobile products and services. BT consists principally of four lines of business: BT Global Services, Openreach, BT Retail and BT Wholesale.
In the year ended March 31, 2007, BT Group plc's revenue was 20,223 million pounds sterling with profit before taxation of 2,484 million pounds.
British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York.
For more information, visit http://www.bt.com/aboutbt.
British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York.
About NetSuite
NetSuite Inc. is a leading vendor of on-demand, integrated business management application suites for small and medium-sized businesses. NetSuite enables companies to manage core business operations in a single system, which includes Accounting / Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Ecommerce. NetSuite's patent-pending "real-time dashboard" technology provides an easy-to-use view into up-to-date, role-specific business information.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties and assumptions. If any of the risks or uncertainties ever materialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements include statements relating to expectations, plans and prospects for NetSuite and the service offering under the alliance with BT described above, that are based upon current expectations and beliefs. These risks, uncertainties and assumptions include: the market for on-demand services may develop more slowly than expected; this is a new alliance and a new program and challenges may arise in the implementation, growth or support of this new program; disruptions in service as a result of loss of power or loss of Internet access or unexpected disruptions in NetSuite data center may occur; potential errors or other problems in the software code may arise; general political, economic and market conditions and events, including economic recession, war, conflict or acts of terrorism, and other risks and uncertainties described more fully in our public announcements and filings with or furnished to the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2007. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.
Photo: http://www.newscom.com/cgi-bin/prnh/20021024/SFTH024LOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk photodesk@prnewswire.com
NetSuite Inc.
CONTACT: Mei Li of NetSuite, +1-650-627-1063, meili@NetSuite.com
Web site: http://www.netsuite.com/
Tucson Electric Power Company Unifies Business Processes with Oracle(R) Service-Oriented Architecture SuiteUtility Seeks to Implement and Integrate New Application 36 percent Faster, Expects to Reduce System Maintenance by 50 percent
REDWOOD SHORES, Calif., April 22 /PRNewswire-FirstCall/ --
-- Oracle today announced that Tucson Electric Power Company implemented
Oracle(R) Service-Oriented Architecture (SOA) Suite -- a component of
Oracle Fusion Middleware -- to integrate its various business
applications and establish new services rapidly with reusable Web
services.
-- Using Oracle SOA Suite, Tucson Electric Power Company expects to
implement and integrate new applications 36 percent faster and reduce
time spent on supporting and maintaining the system by 50 percent.
-- Tucson Electric Power Company provides energy services in a regulated
market and is focused on controlling costs while expanding IT services
to increase business efficiency. The utility's IT infrastructure
includes hundreds of specialized application interfaces and lacked a
unified process for implementing new applications to deliver new
services. To reduce IT complexity and administration requirements --
and accelerate new application implementations -- Tucson Electric
Power Company selected Oracle SOA Suite to create a single
enterprisewide integration environment.
-- Tucson Electric Power Company worked with E2E Consulting, using Oracle
Fusion Middleware -- including Oracle SOA Suite -- to integrate its
STORMS Work Management application with the Oracle E-Business Suite.
-- This integration allowed the organization to streamline work requests
sent from STORMS to Oracle Projects and to track project costs more
efficiently. The STORMS application enables the organization to
rapidly assign field crews to restore electricity service and make
repairs caused by storm damage.
-- Oracle SOA Suite helps eliminate customized application integration
requirements, establishing a framework of reusable components that
allow Tucson Electric Power Company to simplify integration between
additional work management applications and other back office systems
-- eliminating the requirement for custom, "hard wired" interfaces.
Supporting Quotes
-- "Oracle SOA Suite provides the flexibility we need to integrate
applications quickly and cost-effectively. As an existing Oracle
customer, we liked using the same vendor for support. After evaluating
integration packages from BEA, IBM and Oracle, we felt Oracle SOA
Suite was the best choice for our company. We expect to see
significant benefits using Oracle SOA Suite. The less time and fewer
resources that we spend on developing and managing customized
application interfaces frees staff to work on forward-looking
projects. The end result supports our goal to use invested capital as
effectively as we can, reduce expenses and expand services," said
Steve Rissler, manager, Information Systems, Tucson Electric Power
Company.
-- "Utilities and other organizations are focused on rapidly delivering
new services while decreasing costs. Oracle SOA Suite delivers value
by empowering organizations to create new applications rapidly and
establish a flexible application infrastructure that eliminates costly
and time-intensive integration requirements. We recognize Tucson
Electric Power Company for its commitment to expanding its services
and reducing complexity to better serve its customers," said Quentin
Grady, senior vice president and general manager, Oracle Utilities.
Supporting Resources
Customer Success Features from Oracle Magazine
-- Definitely Not Old-School (http://www.oracle.com/technology/oramag/oracle/08-jan/o18northwestern.html)
-- Perform with SOA
(http://www.oracle.com/technology/oramag/oracle/07-nov/o67soa.html)
Oracle Expert Blogs
-- David Chappell (http://blogs.oracle.com/davidchappell/)
Podcasts and Webcasts
Oracle Fusion Middleware Radio
(http://www.oracle.com/products/middleware/ofmradio.html)
Oracle Fusion Middleware SOA Expertise on Demand (http://www.oracle.com/webapps/dialogue/dlgpage.jsp?p_dlg_id=5900988&src=56343 23&Act=6)
Related Resources
-- Oracle Utilities: http://www.oracle.com/industries/utilities/index.html
-- Oracle SOA Suite: http://www.oracle.com/technologies/soa/soa-suite.html
-- Oracle Fusion Middleware: http://www.oracle.com/products/middleware/index.html
-- Tucson Electric Power Company: http://www.tucsonelectric.com/
-- E2E Consulting: http://www.e2econsulting.com/
About Oracle
Oracle is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com/.
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Trademark
Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.
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Oracle
CONTACT: Caroline Yu of Oracle, +1-650-506-8920, caroline.yu@oracle.com; or Janice Hazen of O'Keeffe & Company, +1-770-938-4753, jhazen@okco.com
Web site: http://www.oracle.com/
Spansion Bolsters Development Plans for Its Revolutionary MirrorBit(R) ORNAND2(TM) ArchitectureCompany Establishes Headquarters for Security and Advanced Technology Division in Italy
MILAN, Italy, April 22 /PRNewswire-FirstCall/ -- Spansion Inc. , the world's largest pure-play provider of Flash memory solutions, today announced it has strengthened development plans for its revolutionary MirrorBit(R) ORNAND2(TM) architecture and secure products strategy by establishing headquarters for its Security and Advanced Technology Division in Agrate Brianza (Milan). The division will lead Spansion's efforts to develop differentiated Flash memory security solutions and expand its MirrorBit technology application areas currently served by NAND.
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Carla Golla, executive vice president for Spansion Inc., leads the SATD division and employs leading scientists and experts in the field of silicon design, product development, product engineering, marketing and manufacturing control. A seasoned industry executive who joined Spansion last July, Golla holds more than 50 patents and is optimistic that the consolidated division will continue setting the pace in the market for advanced Flash technologies that meet the increasingly complex requirements of today's mobile and consumer devices.
"The new headquarters for SATD represent Spansion's ongoing commitment to innovate Spansion's planned MirrorBit ORNAND2 and secure memory solutions, driving the company's leadership position, as well as growth into new markets," said Carla Golla. "To support this growth and focus requires the best minds in the industry and we now have the opportunity to recruit from a pool of experienced professionals located in this European hot bed of engineering talent."
MirrorBit ORNAND2 Product family
The first planned major development from SATD is the MirrorBit ORNAND2 product family, based on a SONOS-like memory cell connected in a NAND memory array at 45 nanometers. MirrorBit ORNAND2 will feature fast write performance and superior quality compared to floating-gate NAND technology and allows consumers to store and access their favorite pictures, music, audio-books and videos on a broad range of portable devices. The pace of innovation in the world of portable and affordable consumer devices is creating strong demand from manufacturers for more and more storage memory on progressively smaller die sizes. For these devices, traditional floating gate technology has reached its limit. The proprietary charge-trapping storage architecture of MirrorBit ORNAND2 meets these evolving market needs today and into the future.
Spansion Secure Memory Solutions
SATD is also responsible for driving the strategic direction and deployment of Spansion secure memory solutions including the company's MirrorBit HD-SIM(TM) product family. The new MirrorBit HD-SIM multi-chip is based on an advanced microcontroller designed by Spansion which offers several communication interfaces, including USB (high speed, full speed and interchip), MMC/SD and Single Wire Protocol (SWP), in addition to ISO 7816. Bundled with either Spansion MirrorBit NOR or MirrorBit ORNAND2 Flash memory, it will enable a wide range of densities, ranging from a few megabytes to several gigabytes of storage capacity on SIM cards for mobile users. "Spansion's MirrorBit ORNAND2 architecture addresses the increasing demand for data storage in embedded memory applications," said Stuart Robinson, analyst at Strategy Analytics. Mobile phone handsets, digital consumer products, and automotive multimedia equipment are innovating at a frantic pace in Europe and worldwide to keep pace with consumer demands for functionality, price and design. By establishing its SATD headquarters in Italy, Spansion has a well- placed hub for research and development talent in these ever-changing markets."
About Spansion
Spansion is a leading Flash memory solutions provider, dedicated to enabling, storing and protecting digital content in the wireless, automotive, networking and consumer electronics applications. Spansion, previously a joint venture of AMD and Fujitsu, is the largest company in the world dedicated exclusively to designing, developing, manufacturing, marketing and selling Flash memory solutions. For more information, visit http://www.spansion.com/.
Cautionary Statement
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding plans to develop and deploy secure memory solutions and expand Spansion's MirrorBit technology, including plans for the MirrorBit ORNAND2 product family. Investors are cautioned that the forward- looking statements in this release involve risks and uncertainties that could cause actual results to differ materially from the company's current expectations. The company urges investors to review in detail the risks and uncertainties in the company's Securities and Exchange Commission filings, including but not limited to the company's Annual Report on Form 10-K for the fiscal year ended December 30, 2007. The company assumes no obligation to update any forward-looking statements or information included in this press release.
Spansion(R), the Spansion Logo(R), MirrorBit(R), MirrorBit(R) Eclipse(TM), ORNAND(TM), ORNAND2(TM), HD-SIM(TM) and combinations thereof, are trademarks of Spansion LLC. Spansion, the Spansion Logo and MirrorBit are registered in the US and other countries. Other names used are for informational purposes only and may be trademarks of their respective owners.
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Spansion Inc.
CONTACT: Press, EMEA, Anne Decours, +33 1 74 22 07 92, or US, Courtney Brigham, +1-408-616-5056, both of Spansion; or Investor, Linda Rothemund, +1-415-445-3240, linda@marketstreetpartners.com, for Spansion
Web site: http://www.spansion.com/
Interwoven Certifies Leading Interactive Marketing Agency Partners on Interwoven OptimostCertification Extends Reach of Website Optimization Solution
SAN FRANCISCO, April 22 /PRNewswire-FirstCall/ -- GEARUP 2008 -- Interwoven, Inc. , a global leader in content management solutions, today announced a partner certification program for Interwoven Optimost, which will extend the market reach of its innovative Website optimization solution. The certification program empowers interactive marketing agencies and systems integration firms to fully leverage the Interwoven Optimost multivariable optimization solution across their customer base.
(Logo: http://www.newscom.com/cgi-bin/prnh/20071205/INTWOVLOGO)
To date, representatives from seven leading interactive marketing firms -- including Avenue A | Razorfish, Digitaria, Earthbound Media Group, Molecular, One to One Interactive, Roundarch, and Stratigent -- have completed the certification process. All of these Interwoven partners have expertise in Web analytics and measurement, as well as deep knowledge of the full range of Interwoven products.
Interwoven will be offering additional Interwoven Optimost certifications to key partners throughout the year, developing a sizable network of Interwoven partners that are qualified to deliver the value of Interwoven Optimost solutions to their clients. Interwoven Partners or prospective partners that would like information about these courses or Interwoven's Optimost technology should contact partner@interwoven.com.
The Interwoven Optimost Website optimization solution allows online marketers to get more from their existing customer acquisition and Website investments by maximizing online conversion rates. Optimost identifies the most compelling combination of Web content and design by exposing different combinations of online content elements to different visitors, measuring visitors' actions and then optimizing the combinations based on those actions.
Interwoven Optimost has a proven track record in helping its clients achieve double-digit increases in conversion rates and online sales. For example, TrustedID, a leading provider of proactive consumer identity theft protection solutions, used Optimost to create a compelling and engaging online experience that delivers measurable business impact. As a result of using the solution, the company experienced a double-digit increase in their Web conversion and subscription rates over 6 months.
"One of the goals of Interwoven's acquisition of Optimost was to be able to offer a premier Website optimization solution to a much broader market and to better enable our partners to leverage this technology with their customers to help drive online business results," said Mark Wachen, managing director of Optimost solutions at Interwoven. "This program extends the toolset available to our partners who are already working in the trenches with customers to design Websites and drive SEO and SEM efforts. This new initiative enables them to maximize the effectiveness of their customers' online presence to drive measurable business results."
"Throughout our long-standing partnership with Interwoven, we have leveraged their solutions -- from content management and delivery to targeting -- to help our clients create rich, relevant and differentiated online content that helps to both strengthen their brand and drive their online business success," said Bryant Shea, director of content management at Molecular. "The addition of Interwoven's Web testing and optimization solution enables us to complete the cycle by creating, delivering, and now optimizing our clients' Web presence to provide their customers with the best possible Web experience."
About Interwoven
Interwoven is a global leader in content management solutions. Interwoven's software and services enable organizations to maximize online business performance and organize, find, and govern business content. Interwoven solutions unlock the value of content by delivering the right content to the right person in the right context at the right time. Over 4,200 of the world's leading companies, professional services firms, and governments have chosen Interwoven, including adidas, Airbus, Avaya, BT, Cisco, Citi, Delta Air Lines, DLA Piper, FedEx, Grant Thornton, Hilton Hotels, Hong Kong Trade and Development Council, HSBC, LexisNexis, MasterCard, Microsoft, Samsung, Shell, Qantas Airways, Tesco, Virgin Mobile, and White & Case. Over 20,000 developers and over 300 partners enrich and extend Interwoven's offerings. To learn more about Interwoven, please visit http://www.interwoven.com/.
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Interwoven, Inc.
CONTACT: Danielle Hamel of Interwoven, Inc., +1-408-953-7251, dhamel@interwoven.com
Web site: http://www.interwoven.com/
Southside Bank Selects Jack Henry Banking's SilverLake System(R)- $2.1 Billion Bank to Migrate from Jack Henry Banking's Banker II(TM) System -
MONETT, Mo., April 22 /PRNewswire-FirstCall/ -- Jack Henry & Associates, Inc. , a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that Texas-based Southside Bank will migrate from Jack Henry Banking's Banker II core processing system to its SilverLake System. This long-time client bank, which has more than $2.1 billion in assets, will install SilverLake in-house.
According to Keith Miller, senior vice president of Information Technology for Southside Bank, "We have enjoyed a 10-year relationship with Jack Henry & Associates that has been hallmarked by great service and quality products. Realizing we have simply outgrown Banker II and that we are facing a conversion, we decided it was in our best interest to evaluate core processing alternatives despite our satisfaction as a Jack Henry client. We confined our search to a select few technology solutions but we quickly determined that SilverLake provides the contemporary and broad functionality we need. We are also extremely excited about the increased number of integrated complementary products now available to us as a SilverLake user, and consider jXchange to be an important differentiator since it will maximize our operating flexibility and reduce our need for custom code. We believe Jack Henry is a well-managed company, we are impressed with its strategic direction, and we believe entrusting our bank to another Jack Henry solution is a risk-free decision."
jXchange, a services-oriented architecture on a .NET platform, provides open connectivity between Jack Henry Banking's core and complementary solutions, as well as third-party products. Although Jack Henry Banking provides one of the most extensive product offerings available today, its experience supporting approximately 1,700 core bank clients demonstrated that diverse banks have niche product requirements outside its offering. In response, Jack Henry Banking developed this contemporary integration methodology to increase banks' operating flexibility and enable them to leverage their existing and future technology investments.
Tony Wormington, president of Jack Henry & Associates, said, "It is extremely rewarding when progressive mid-tier institutions like Southside Bank select us to support their technology needs based on feature/function comparisons of our systems with competitive alternatives. It is also rewarding when we are selected based on what we believe to be our core competencies -- solid core functionality, one of the most extensive suites of integrated complementary products and services available today, and a company-wide commitment to provide service levels that exceed our clients' expectations. We sincerely appreciate the opportunity to continue serving as Southside Bank's technology partner and expect SilverLake will have a significant near- and long-term impact on this bank's progress and performance."
About Southside Bancshares, Inc.
Southside Bancshares, Inc., the holding company for Southside Bank and Fort Worth National Bank, is headquartered in Tyler, Texas. Tyler has a metropolitan area population of approximately 180,000 and is located 90 miles east of Dallas. The company has assets of approximately $2.1 billion and operates 44 community-banking facilities in Texas. Southside Bank (http://www.southside.com/) and Fort Worth National Bank (http://www.fwnb-tx.com/) are community-focused financial institutions that offer a full range of financial services to individuals, businesses, and nonprofit organizations. These services include consumer and commercial loans; loans to municipalities; deposit accounts; trust, personal banking, safe deposit boxes and brokerage services; credit cards; ATMs; and an array of electronic services.
About Jack Henry Banking(TM)
Jack Henry Banking, a division of Jack Henry & Associates, Inc., is a leading provider of integrated computer systems for banks ranging from de novo to mid-tier institutions. Jack Henry Banking currently serves approximately 1,700 banks as a single source for integrated, enterprise-wide automation; and as a single point of contact and support. Additional information is available at http://www.jackhenrybanking.com/.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 8,700 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking supports banks ranging from de novo to mid-tier institutions with information processing solutions. Symitar(TM) is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars(R) provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at http://www.jackhenry.com/.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
Jack Henry & Associates, Inc.
CONTACT: analysts, Kevin D. Williams, Chief Financial Officer, or IR, Jon Seegert, Director of Investor Relations, both of Jack Henry & Associates, Inc., +1-417-235-6652
Web site: http://www.jackhenry.com/ http://www.southside.com/
AT&T Delivers Live and On-Demand Performances From Coachella Valley Music & Arts FestivalAT&T blue room Kicks Off Festival Season With Exclusive Webcast of Coachella 2008
SAN ANTONIO, April 22 /PRNewswire-FirstCall/ -- Spring is in the air, and for music lovers that means just one thing -- today's hottest bands are about to heat up the stage at the Coachella Valley Music & Arts Festival (http://www.coachella.com/).
AT&T Inc. announced today that the company will be offering an exclusive live webcast from the 2008 Coachella Valley Music & Arts Festival on the AT&T blue room (http://www.attblueroom.com/) daily April 25 - 27. In addition, on-demand content from the festival will be available across the three screens -- on blue room, on AT&T U-verse(SM) TV and through Cellular Video(1) on AT&T wireless devices -- in May.
"We are proud to consistently bring music fans opportunities to experience their favorite music in new and unique ways," said Dan York, head of Content and Programming, AT&T Entertainment Services. "Through our agreement with Coachella, we're able to deliver consumers with great music from this popular festival no matter where they are -- on the TV, the PC and the wireless device."
"AT&T blue room is an important part of our marketing initiatives," said Joey Schultz, vice president of AT&T Consumer Marketing. "As we continue to deliver webcasts of today's top music festivals, we create opportunities to introduce consumers to AT&T's full lineup of products and service offerings."
Other live webcasts scheduled for the year that will be offered exclusively by AT&T include:
-- The New Orleans Jazz and Heritage Festival: New Orleans, May 3 - 4
-- Bonnaroo Arts and Music Festival: Manchester, Tenn., June 13 - 15
-- Lollapalooza: Chicago, Aug. 1 - 3
-- Austin City Limits Music Festival: Austin, Texas, Sept. 26 - 28
A complete performance lineup for the webcast of Coachella 2008 will soon be available at http://www.attblueroom.com/music. Additional festival dates, performance lineups and event details will also be added to blue room throughout the next several months.
AT&T Entertainment Services is a division within AT&T that is focused on delivering innovative and unique entertainment services and multiplatform advertising opportunities across the three screens. To date, the blue room and its online channels have generated more than 135 million page views and have fueled sales of the company's core offerings -- high speed Internet, wireless, voice and video -- while building an affinity for the AT&T brand in the entertainment space. For the complete array of AT&T offerings, visit http://www.att.com/.
(1) Requires 3G, CV, and MEdia(TM) Net functionality.
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: Sean Lashley of AT&T, +1-314-982-1746, wireless, +1-618-444-0707, slashley@attnews.us
Web site: http://www.att.com/
Seagate First to Ship 1 Billion Hard Drives; Expects Next Billion Within Five YearsDigital Content Explosion Creates Huge Growth in Demand for Storage; Seagate Now Shipping 111,600 Terabytes Each Day - Over One Terabyte of Storage Every Second
SCOTTS VALLEY, Calif., April 22 /PRNewswire-FirstCall/ -- Seagate Technology announced today that it is the first hard drive manufacturer worldwide to have shipped 1 billion hard drives -- a number not only staggering in size but also emblematic of the massive amount of digital content being created in the home, hand, office, car and dozens of other markets. Consider this: the 1 billion hard drives Seagate has delivered equates to approximately 79 million terabytes, able to store 158 billion hours of digital video or 1.2 trillion hours of your favorite music -- and Seagate hard drives and storage solutions enable people to create, share, enjoy and protect more digital content every day.
As further testimony to its market leadership and the central role storage solutions play in the digital world today, Seagate projects that although it took 29 years to reach the 1 billion milestone, the company will ship its next billion in less than five years. Also, by the time its nearest competitor reaches 1 billion drives shipped, Seagate will already be close to shipping its second billion.
Seagate's billionth drive milestone comes as hard drive shipments continue to increase dramatically. According to Gartner Group, last year alone more than 500 million drives were shipped, compared to 1990, when slightly less than 30 million were shipped.
In 1979, Seagate's first product, the ST506 hard drive, could store 5 megabytes of data or the equivalent of one MP3 song. The drive weighed about five pounds and cost $1,500, or $300 per megabyte. Today, a typical Seagate hard drive offers a terabyte of data (or 1 million megabytes), which has enough capacity to record 32 days of high-definition video around the clock -- at a cost of 1/5000th of a cent ($0.00022) per megabyte.
"This company has an amazing, colorful and important history, which continues to be written every day by our 55,000 employees around the world," said Bill Watkins, Seagate CEO. "Al Shugart and a few others started the company behind a convenience store in 1979 and enabled the birth of the first PCs. Today we're at the center of the digital content revolution. So reaching this milestone is a great opportunity for us to reflect on our accomplishments and those of our predecessors, and to also look forward to the great things we can still achieve as a company."
Long-time Seagate customer, HP, congratulated the company on this achievement. "Reaching this milestone could only be possible through exceptionally strong leadership, committed employees and deep corporate values that focus on innovation, collaboration and delivering superior customer service," said Ike Harris, VP of notebook supply chain at HP. "These values are very consistent with HP's and this alignment reflects the strength of our partnership."
The rapid growth of digital content continues to come from a wide range of sources. For example, analysts estimate that there are over one billion digital still and phone cameras in the world and that those devices accounted for 250 billion created images in 2006. It is predicted that user-generated content sites (like Flickr and YouTube) will produce 65 billion downloads/views by 2010.
"Digital content proliferation is a long-term phenomenon," according to John Rydning, IDC's Research Director for hard drives. "This phenomenon is pushing demand for hard drives to more than 600 million units per year by 2010 and will continue to fuel hard drive demand in the decade ahead."
For more information on this important milestone, please go to the website: http://1b.seagatestorage.com/
About Seagate
Seagate is the worldwide leader in the design, manufacture and marketing of hard disc drives and storage solutions, providing products for a wide-range of applications, including Enterprise, Desktop, Mobile Computing, Consumer Electronics and Branded Solutions. Seagate's business model leverages technology leadership and world-class manufacturing to deliver industry-leading innovation and quality to its global customers, with the goal of being the time-to-market leader in all markets in which it participates. The company is committed to providing award-winning products, customer support and reliability to meet the world's growing demand for information storage. Seagate can be found around the globe and at http://www.seagate.com/.
Seagate, Seagate Technology and the Wave logo are registered trademarks of Seagate LLC. When referring to hard drive capacity, one gigabyte, or GB, equals one billion bytes and one terabyte, or TB, equals one trillion bytes. Your computer's operating system may use a different standard of measurement and report a lower capacity. In addition, some of the listed capacity is used for formatting and other functions, and thus will not be available for data storage. Quantitative usage examples for various applications are for illustrative purposes. Actual quantities will vary based on various factors, including file size, file format, features and application software. Seagate reserves the right to change, without notice, product offerings or specifications.
This news release contains certain forward-looking statements, which are subject to a number of risks and uncertainties. The ultimate correctness of these forward-looking statements is dependent upon a number of known and unknown risks and events, and is subject to various uncertainties and other factors that may cause our actual results, performance or achievements to be different from any future results, performance or achievements expressed or implied by these statements. For a list and description of various risks, relevant factors and uncertainties that could cause future results or events to differ materially from those expressed or implied in our forward-looking statements, see our Annual Report on Form 10-K for the fiscal year ended June 29, 2007, any subsequent Reports on Form 10-Q and Form 8-K and our other securities filings.
Seagate Technology
CONTACT: Michael Hall, +1-831-439-2731, michael.l.hall@seagate.com, or David Szabados, +1-831-439-2859, david.szabados@seagate.com, both of Seagate Technology
Web site: http://www.seagate.com/
Perfect World Announces Strategic Investment in Chengdu Seasky Digital Entertainment
BEIJING, April 22 /Xinhua-PRNewswire/ -- Perfect World Co., Ltd. ("Perfect World" or the "Company"), a leading online game developer and operator in China, today announced that the Company will use USD3,000,000 to make a strategic investment in Chengdu Seasky Digital Entertainment Co., Ltd. ("Seasky") and take a minority stake.
Seasky is a high-tech company with extensive experience in designing and developing massive multiplayer online games ("MMOGs"). It developed a popular 2D turn-based massive multiplayer role-playing online game ("MMORPG"), "Heavenly Sword and Dragon Sabre." It has engaged in the research and development of Java technology and has accumulated extensive technology capabilities and experience.
"I believe Seasky will be a great partner due to its research and development capabilities and solid future potential," commented Mr. Michael Chi, Chairman and Chief Executive Officer of Perfect World. "Pursuing strategic partnerships and alliances has always been one of our core strategies. We are committed to effectively executing this strategy and to delivering solid results for our shareholders."
About Perfect World Co., Ltd. ( http://www.pwrd.com/ )
Perfect World Co., Ltd. is a leading online game developer and operator in China. Perfect World primarily develops three-dimensional ("3D") online games based on the proprietary Angelica 3D game engine and game development platform. The Company's strong technology and creative game design capabilities, combined with extensive local knowledge and experience, enable it to frequently and rapidly introduce popular games that are designed to cater to changing customer preferences and market trends in China. The Company's current portfolio of self-developed 3D online games includes 3D massively multiplayer online role playing games ("MMORPGs"): "Perfect World," "Legend of Martial Arts," "Perfect World II," "Zhu Xian," and "Chi Bi;" and a 3D casual game: "Hot Dance Party." While most revenues are generated in China, the Company's games have been licensed to leading game operators in more than ten countries and regions. The Company plans to continue to explore new and innovative business models and remains deeply committed to maximizing shareholder value over time.
Safe Harbor Statements
This press release contains forward-looking statements. These statements constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "future," "plans," "believes" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, our limited operating history, our ability to protect our intellectual property rights, our ability to respond to competitive pressure, and changes of the regulatory environment in China. Further information regarding these and other risks is included in Perfect World's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1. Perfect World does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For further information, please contact
Perfect World Co., Ltd.
Vivien Wang
Investor Relations Officer
Tel: +86-10-5885-1813
Fax: +86-10-5885-6899
Email: ir@pwrd.com
http://www.pwrd.com/
Christensen Investor Relations
Peter Homstad
Tel: +1-480-614-3026
Fax: +1-480-614-3033
Email: phomstad@christensenir.com
Jung Chang
Tel: +852-2117-0861
Fax: +852-2117-0869
Email: jchang@christensenir.com
Perfect World Co., Ltd.
CONTACT: Vivien Wang, Investor Relations Officer of Perfect World Co., Ltd., +86-10-5885-1813, or Fax: +86-10-5885-6899, ir@pwrd.com; or Peter Homstad, Investor Relations, +1-480-614-3026, or Fax: +1-480-614-3033, phomstad@christensenir.com, or Jung Chang, +852-2117-0861, or Fax: +852-2117-0869, jchang@christensenir.com, both of Christensen for Perfect World Co., Ltd.
Web site: http://www.pwrd.com/
Brad Faxon Becomes First Member of ProLink's Strategic Advisory BoardLongtime PGA TOUR Star to Share Expertise, Enhance Company's Products and Services
CHANDLER, Ariz., April 22 /PRNewswire-FirstCall/ -- ProLink Solutions -- a wholly-owned subsidiary of ProLink Holdings Corp. (BULLETIN BOARD: PLKH.OB) and the world's leading provider of Global Positioning Satellite ("GPS") golf course management systems and on-course advertising -- announced today that longtime PGA TOUR standout Brad Faxon is the first member of its new Strategic Advisory Board.
Faxon, a 25-year TOUR veteran with eight career victories, will use his playing experience, knowledge of golf, and extensive network of associates and contacts to help ProLink enhance its products and services while expanding its base of installed courses. A former member of the PGA TOUR Policy Board, the Payne Stewart award winner in 2005 and an active participant in charity organizations, Faxon is one of the golf community's most respected figures.
Once finalized, ProLink's Advisory Board will have up to six members from a variety of professional backgrounds. The board will meet regularly and provide the company expert advice on a range of topics to bolster ProLink's industry-leading technology, golfer-friendly platform, customer support and internal operations. The Advisory Board will operate independently from ProLink's seven-member Board of Directors.
"It's my pleasure to join ProLink Solutions and its Strategic Advisory Board, and I look forward to helping the company further develop its products to improve the golf experience and aid course operators," Faxon said. "GPS systems have become an integral part of the game, especially since they've been legalized for tournament play. By making the game more enjoyable for players and more profitable for course owners, ProLink benefits everyone involved in golf."
Added Lawrence D. Bain, CEO of ProLink Solutions: "We're thrilled to welcome Brad to our Advisory Board. Brad is well-known throughout golf for his accomplishments on and off the course. He'll bring a unique professional insight to ProLink and our management. We anticipate Brad offering a wealth of knowledge and great ideas to further strengthen ProLink's status as the GPS category leader."
Faxon boasts a long list of achievements over the past 25 years. He turned professional in 1983 after a successful career at Furman University. Faxon's first official PGA TOUR win came in the 1991 Buick Open, and he ranked among the world's top 20 players throughout much of the decade. Faxon represented the United States in the Ryder Cup in 1995 and 1997 and led the TOUR in putting average in 1996, 1999 and 2000. Faxon, whose most recent victory came at the 2005 Buick Championship, counts more than $17.6 million in career earnings.
Faxon is also one of the game's most generous figures. In 1991, Faxon and fellow TOUR pro Billy Andrade formed Billy Andrade/Brad Faxon Charities for Children, Inc., a non-profit organization that has raised more than $7.5 million for needy children in Rhode Island and southern Massachusetts. For their charity work, Faxon and Andrade were awarded the 1999 Golf Writers Association of America's Charlie Bartlett Award, given to professional golfers for unselfish contributions to society.
Faxon lives in Barrington, R.I., with his wife, Dory, and four daughters.
About ProLink
ProLink Solutions is the world's leading provider of GPS golf course management systems and revenue-generating on-course advertising. ProLink Solutions' core philosophy is to be a "Trusted Partner" to its golf-course customers. From enhancing golfers' overall experience and improving pace-of- play, to increasing current revenue streams and creating new profit centers for golf courses, ProLink Solutions' products and services have captured markets both nationally and globally. For more information about ProLink, visit http://www.goprolink.com/, call 480.753.2337 or email info@goprolink.com.
CONTACT:
Buffalo Communications
Rich Katz
703.891.3319
rkatz@billycaspergolf.com
Daniel Mitchell
253.312.4536
dmitchell@billycaspergolf.com
Investor Relations Contact:
CEOcast, Inc
Gary Nash
212.732.4300
gnash@ceocast.com
ProLink Holdings Corp.
CONTACT: Rich Katz, +1-703-891-3319, rkatz@billycaspergolf.com, or Daniel Mitchell, +1-253-312-4536, dmitchell@billycaspergolf.com, both of Buffalo Communications, for ProLink Holdings Corp.; or investors, Gary Nash, +1-212-732-4300, gnash@ceocast.com, of CEOcast, Inc, for ProLink Holdings Corp.
Web site: http://www.goprolink.com/
Verizon Business Helps Customers Put Communications, Information Technology to Work for Earth Day and Every DayCompany Also Engineers Energy Efficiencies Into Network Operations
BASKING RIDGE, N.J., April 22 /PRNewswire/ -- Large businesses and government agencies can rely on Verizon Business to employ advanced communications and information technology to help them conserve energy and reduce carbon emissions.
(To listen to a podcast about how Verizon Business can help customers conduct eco-friendly business, go to: http://www.podtech.net/home/5102/verizon-business-helps-companies-conduct-eco- friendly-business.) (Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field.)
According to a report presented last month at the World Economic Forum, the convergence of global networking and computing can significantly reduce global carbon emissions. The report noted: "The Information Communications Technology (ICT) industry is responsible for approximately 2% of global CO2 emissions. ICT solutions have the potential to be an enabler to reduce a significant part of the remaining 98% of total CO2 emitted by non-ICT industries and the public." (1)
Verizon Business offers a wide range of products, services and solutions that can play a significant role in helping customers reduce their energy consumption and environmental impact.
These include:
* Global IP-based networks that facilitate e-commerce.
* Mobility solutions that enable teleworking by providing secure, reliable
connections to corporate resources.
* Collaboration solutions that enable virtual meetings and distance
learning through audio, Web and video conferencing.
* Electronic billing options that can reduce significant amounts of paper
while increasing the usefulness of the bills Verizon Business customers
receive in a paperless, electronic environment.
"The solutions we offer, first and foremost, help our customers do business better," said Nancy Gofus, senior vice president and chief marketing officer for Verizon Business. "Better business efficiency can also translate into energy efficiencies, and we're helping our multinational customers to realize the full benefits of information communications technology throughout their extended enterprise operations."
Engineering a Greener Network
Verizon Business' commitment does not stop with eco-friendly products and services. Verizon Business is also engineering energy efficiency into its network and technical facilities.
For example, by employing energy-efficient ultra long haul (ULH) technology, Verizon Business has increased the capacity of its fiber-optic networks by five times. Since ULH allows Verizon Business to extend the reach of light-beam signals beyond 1,200 miles without the need for regeneration, it also will enable the company in the future to decommission one-third of its electrical-powered regeneration shelters where ULH is deployed.
In addition, Verizon Business has successfully tested the use of fuel cells in a network facility in Forney, Texas, and plans to implement fuel cells at two additional sites this year in Missouri. Fuel cell technology promises to help Verizon Business maintain reliable backup power resources and avoid having to install additional conventional batteries, which would require the allocation of more space -- and additional heating and cooling.
Verizon Business has also taken steps to improve cooling efficiency and reduce energy consumption at premium data centers where the company hosts and manages servers for its premium business customers. Verizon Business plans to implement these new procedures at all of its technical facilities nationwide.
"We're excited about how the advances within our own business operations can reduce Verizon Business' environmental impact as well as help our customers meet their energy efficiency goals," said Jeannie Diefenderfer, vice president of global network operations for Verizon Business. "We're bringing state-of-the-art technology and new business practices to bear on the design and execution of our world class network operations."
Information about Verizon Business' green initiatives are included in "The Sustainable Enterprise Report: Turning Awareness into Action," published by Kyoto Planet (http://www.kyotoplanet.com/). The report seeks to promote environmental best practices for more than 32,000 North American businesses.
For more information about how Verizon Business can put information technology to work for businesses, visit http://www.verizonbusiness.com/about/environment.
Verizon Communications' Green Initiatives
Verizon Communications Inc., the parent company of Verizon Business, has also taken steps to reduce the environmental impact of its operations, which include one of the largest vehicle fleets in the U.S. and millions of square feet of real estate. In 2007, Verizon focused on reducing greenhouse gas emissions, increasing recycling rates and deploying new, energy-saving technologies in its operations.
Also in 2007, Verizon:
* Reduced greenhouse gas emissions by 76,000 metric tons.
* Maintained the company's "carbon intensity" at nearly eight times below
the U.S. average.
* Spent nearly 28 percent of the company's $11.6 million budget for office
supplies on products with recycled content.
* Received about 100 million customer bill payments online, conserving
some 400 tons of paper.
This year, Verizon is rolling out 100 new hybrid sedans in metropolitan areas across the country, which will annually reduce greenhouse-gas emissions by an estimated 263 metric tons and conserve nearly 30,000 gallons of fuel.
For information about environmental initiatives at Verizon Communications Inc., visit http://www22.verizon.com/pages/environment/.
About Verizon Business
Verizon Business, a unit of Verizon Communications , is a global IP leader and network-based partner for delivering integrated communications and information technology (IT) solutions to large-business and government customers worldwide. Combining unsurpassed reach with managed services, security, mobility, collaboration and professional services capabilities, Verizon Business delivers global solutions that power innovation and enable its customers to do business better. For more information, visit http://www.verizonbusiness.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.
(1) "The Contribution of ICT to Climate Change Mitigation," (March
2008)/Source: Gartner/HP/McKinsey/WWF
Verizon Business
CONTACT: Debbie Lewis, +1-610-257-7974, debbie.lewis@verizon.com, for Verizon Business
Web site: http://www.verizon.com/ http://www.verizonbusiness.com/ http://www22.verizon.com/pages/environment
Company News On-Call: http://www.prnewswire.com/comp/618232.html http://www.prnewswire.com/gh/cnoc/comp/683229.html
Alliance Data's Canadian Loyalty Business Signs Multi-Year Renewal With Leading Canadian Home Improvement Retailer RONAAgreement Extends Long-Standing Relationship with Nationally Recognized Brand Name in Home Improvement Products
DALLAS, April 22 /PRNewswire-FirstCall/ -- Alliance Data Systems Corporation , a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced that RONA Inc. has signed a multi-year renewal agreement as a national sponsor in Alliance Data's Canadian AIR MILES(R) Reward Program. A top-5 AIR MILES sponsor, RONA Inc. is the largest Canadian distributor and retailer of hardware, home renovation and gardening products. RONA has been offering its Quebec customers AIR MILES reward miles since 1992, with all other RONA stores from coast to coast joining the program in 2004. The relationship was recently further expanded when RONA's subsidiary in Quebec, Reno-Depot, also joined as a sponsor in 2007. An over $6 billion (CDN) Canadian retailer, RONA currently has a network of 680 stores across Canada.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051024/ADSLOGO )
The AIR MILES Reward Program is Canada's premier coalition loyalty program, with approximately two-thirds of Canadian households actively collecting reward miles. AIR MILES collectors earn reward miles at more than 100 leading brand-name sponsors representing thousands of retail and service locations across Canada. AIR MILES reward miles can be redeemed for more than 800 different rewards, such as travel, movie passes, entertainment attractions, electronic merchandise, including gift certificates redeemable at RONA stores, and more.
"The long-standing partnership between the AIR MILES Reward Program and RONA has helped us build tremendous customer loyalty and attract new customers throughout our 15-plus year relationship," said Michael Brossard, senior vice president, Marketing, RONA. "This program continues to be a critical part of our marketing and growth strategy, as evidenced by fully integrating the AIR MILES offer across our network of store brands, and across our retail channels."
"This extension demonstrates our commitment to establishing long-term strategic relationships with partners by demonstrating the recognized value of the AIR MILES Reward Program to our partners," said Bryan Pearson, president, Alliance Data Loyalty Services. "RONA is a highly recognized brand and industry leader that has been part of the AIR MILES Reward Program for more than 15 years, and we're pleased with their decision to continue our successful partnership."
About Alliance Data
Alliance Data is a leading provider of marketing, loyalty and transaction services, managing over 120 million consumer relationships for some of North America's most recognizable companies. Using transaction-rich data, Alliance Data creates and manages customized solutions that change consumer behavior and that enable its clients to create and enhance customer loyalty to build stronger, mutually beneficial relationships with their customers. Headquartered in Dallas, Alliance Data employs over 9,000 associates at more than 60 locations worldwide. Alliance Data's brands include AIR MILES(R), North America's premier coalition loyalty program, and Epsilon(R), a leading provider of multi-channel, data-driven technologies and marketing services. For more information about the company, visit its website, http://www.alliancedata.com/ .
About RONA
RONA is the largest Canadian distributor and retailer of hardware, home renovation and gardening products. RONA operates a network of 680 corporate, franchise and affiliate stores of various sizes and formats. With over 27,000 employees working under its family of banners in every region of Canada and more than 15 million square feet of retail space, the RONA store network generates over C$6.5 billion in annual retail sales. Visit rona.ca to learn more.
Alliance Data's Safe Harbor Statement/Forward-Looking Statements
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements may use words such as "anticipate," "believe," "estimate," "expect," "intend," "predict," "project" and similar expressions as they relate to us or our management. When we make forward-looking statements, we are basing them on our management's beliefs and assumptions, using information currently available to us. Although we believe that the expectations reflected in the forward-looking statements are reasonable, these forward-looking statements are subject to risks, uncertainties and assumptions, including those discussed in our filings with the Securities and Exchange Commission.
If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary materially from what we projected. Any forward-looking statements contained in this presentation reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. These risks, uncertainties and assumptions include those made with respect to and any developments related to the termination of the proposed merger with an affiliate of The Blackstone Group, including risks and uncertainties arising from actions that the respective parties to the merger agreement may take in connection therewith. We have no intention, and disclaim any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this presentation regarding Alliance Data Systems Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K for the most recently ended fiscal year. Risk factors may be updated in Item 1A in each of the Company's Quarterly Reports on Form 10-Q for each quarterly period subsequent to the Company's most recent Form 10-K.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20051024/ADSLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Alliance Data Systems Corporation
CONTACT: Investors, Analysts: Julie Prozeller, Financial Dynamics, +1-212-850-5721, alliancedata@fd.com, for Alliance Data; Media: Shelley Whiddon of Alliance Data, +1-972-348-4310, Shelley.Whiddon@alliancedata.com
Web site: http://www.alliancedata.com/ http://www.rona.ca/
KVH Reports Results for First Quarter of 2008Record first quarter revenue of $23.1 million, up 13%, with net income of $1.6 million and $0.11 earnings per share; Cites strong performance of new TracPhone V7 satellite communications system as key contributor
MIDDLETOWN, R.I., April 22 /PRNewswire-FirstCall/ -- KVH Industries, Inc., today reported financial results for the first quarter ended March 31, 2008. Revenue for the first quarter of 2008 was $23.1 million, up 13% from the first quarter ended March 31, 2007. Net income for the quarter was $1.6 million or $0.11 on a per-diluted share basis. During the same period last year the company reported net income of $57,000, or breakeven on a per- diluted share basis.
"We've started 2008 on a very strong note, with record first quarter sales and a significant year-over-year increase in profits. What is especially gratifying is that we achieved this excellent performance in a tough economic environment while simultaneously achieving three major milestones. We made outstanding progress establishing our TracPhone(R) V7 mini-VSAT satellite communications system, we received a major new order for our fiber optic gyros (FOGs) for use in the stabilized remote weapons market, and we entered the in- flight satellite TV entertainment market for commercial airliners following the award of a $20 million antenna development and production contract," said Martin Kits van Heyningen, KVH's chief executive officer.
In the first quarter of 2008, mobile communications revenue was $18.1 million, up 13% on a year-over-year basis. "Marine revenue rose 23% over the same quarter last year, driven in large part by our new TracPhone V7," Mr. Kits van Heyningen continued. "Demand for this compact, powerful satellite communications system continues to be strong, and we are meeting both our sales and production goals. With every TracPhone V7, we also enjoy the benefit of the hardware sale along with the recurring monthly airtime service revenue. Based on initial activations, the revenue stream driven by mini-VSAT Broadband airtime is very promising.
"Within the land mobile market, quarterly revenue was down 9% due primarily to a year-over-year decline in sales to the automotive market. Sales of our products into the recreational vehicle market remained on par with last year, despite a reported 33% decline in sales of new Class A motorhomes during the first quarter."
KVH's defense-related guidance and stabilization sales, including those for KVH's fiber optic gyro solutions and TACNAV(R) military navigation systems, were approximately $5.1 million in the first quarter of 2008, up 17% on a year-over-year basis. "First quarter sales growth was spurred by a substantial increase in TACNAV navigation system sales. Throughout the first quarter, we continued to aggressively pursue opportunities for our fiber optic gyros in stabilized remote weapon systems. These efforts were rewarded recently when we received a $6 million order from Kongsberg Defence & Aerospace for our DSP-3100 FOGs, which are expected to start shipping in the third quarter for use in the Protector family of remote weapon stations. This initial order calls for a rapid ramp of product output, and should be substantially complete by the end of this year," remarked Mr. Kits van Heyningen.
Commenting on the company's financial results for the first quarter, Patrick Spratt, KVH's chief financial officer, said, "The quarter was generally on track with our expectations for both the top and bottom lines. Gross margin was somewhat above expectations at just over 42% thanks to strong marine product sales, a nice increase in TACNAV sales, and ongoing product cost reduction efforts. We successfully controlled operating expenses and they were a bit below our expectations. These factors combined to generate an operating margin of close to 7%. Our total cash balance decreased sequentially by about $2 million as we continued with our stock repurchase program.
"Looking forward, we believe that the second quarter revenue and earnings results should be comparable to the first quarter of this year, and we remain confident in our original guidance for full year revenue growth of 14% to 20% and EPS of $0.36 to $0.44."
Recent Operational Highlights:
-- April 21, 2008 - KVH receives $6 million fiber optic gyro order from
Kongsberg Defence & Aerospace. The contract is subject to the
successful completion of DSP-3100 FOG testing and qualification.
-- April 18, 2008 - Peter Coffman joins KVH to lead the company's
commercial marine sales effort, focusing on expanding the reach of the
TracPhone V7 and mini-VSAT Broadband service.
-- February 22, 2008 - KVH is awarded a $20.1 million contract by LiveTV,
the leading in-flight entertainment supplier, to design, develop, and
manufacture new DIRECTV-compatible satellite TV antennas for use on
narrowbody commercial aircraft operating in the United States.
-- February 14, 2008 - KVH ships its 150,000th mobile satellite antenna.
KVH is webcasting its first quarter conference call live at 10:30 a.m. Eastern time today through the company's website. The conference call can be accessed via the company's website at http://investors.kvh.com/ and listeners are welcome to submit questions pertaining to the earnings release and conference call to ir@kvh.com. The audio archive and an MP3 podcast will also be available on the company website within three hours of the completion of the call.
About KVH Industries, Inc.
KVH Industries, Inc., is a leading manufacturer of systems to provide mobile access to satellite TV, communication, and high-speed Internet, as well as navigation, pointing, and guidance solutions for defense and commercial applications. The company's products are based on its proprietary mobile satellite antenna and fiber optic technologies. An ISO 9001-certified company, KVH is based in Middletown, Rhode Island. For more information, visit http://www.kvh.com/.
This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding our financial goals for future periods, anticipated revenue growth, anticipated profitability, anticipated orders for our mobile communication and military products, and anticipated improvements in our competitive position. The actual results we achieve could differ materially from the statements made in this press release. Factors that might cause these differences include, but are not limited to: competitors' products and services; delays or an inability to expand coverage of the mini-VSAT Broadband service to new regions; the need for qualification of products to customer or regulatory standards; unanticipated declines or changes in customer demand, due to economic, seasonal and other factors; the unpredictability of order timing, purchasing schedules and priorities for our defense products; order cancellations or unexercised options, particularly for longer-term defense orders; potential reductions in our overall gross margins in the event of a shift in product mix; weakened consumer demand for our products and services, especially at the more price sensitive low end of our product offerings; changes in customer response to new product introductions; the impact of general economic factors, such as increases in fuel prices, on the sale and use of motor vehicles and marine vessels; changes in interest rates; our dependence on third-party satellite networks for programming and satellite services; delays in delivery arising from supplier production constraints; poor or delayed research and development results; currency fluctuations, export restrictions, delays in procuring export licenses, and other international risks; potential product liability claims; the difficulty in protecting our proprietary technology; potential claims of intellectual property infringement; expenses associated with corporate governance requirements; and changes in our equity compensation practices, including the impact of fluctuations in our stock price. These and other factors are discussed in more detail in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 13, 2008. Copies are available through our Investor Relations department and website, http://investors.kvh.com/. We do not assume any obligation to update our forward-looking statements to reflect new information and developments.
KVH Industries, Inc., has used, registered or applied to register its trademarks in the USA and other countries around the world, including the following marks: KVH, KVH logo, Azimuth, TracVision, TracPhone, TACNAV, DataScope and the DataScope logo, Sailcomp, mini-VSAT Broadband and the mini- VSAT Broadband logo, and the banded, dome-shaped housing of its satellite antennas.
KVH INDUSTRIES, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts, unaudited)
Three Months Ended
March 31,
----------------------
2008 2007
-------- --------
Net sales $23,133 $20,397
Cost of sales 13,392 12,804
-------- --------
Gross profit 9,741 7,593
Operating expenses:
Research and development 2,335 2,198
Sales, marketing and support 4,084 4,012
General and administrative 1,746 1,784
-------- --------
Income (loss) from operations 1,576 (401)
Interest income 449 690
Interest expense 45 41
Other expense, net 206 13
-------- --------
Income before income tax expense 1,774 235
Income tax expense 193 178
-------- --------
Net income $1,581 $57
======== ========
Net income per common share
Basic and diluted $0.11 $0.00
======== ========
Weighted average common shares outstanding
Basic 14,670 14,908
======== ========
Diluted 14,672 14,966
======== ========
KVH INDUSTRIES, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, unaudited)
March 31, December 31,
2008 2007
ASSETS -------- --------
Cash, cash equivalents and marketable securities $51,371 $53,305
Accounts receivable, net 14,838 12,826
Inventories 10,114 9,313
Other assets 1,067 1,017
-------- --------
Total current assets 77,390 76,461
Property and equipment, net 11,730 11,739
Deferred income taxes 3,334 3,334
Other non-current assets 373 36
-------- --------
Total assets $92,827 $91,570
======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses $10,569 $8,633
Current portion of long-term debt 2,126 132
-------- --------
Total current liabilities 12,695 8,765
Deferred revenue - 9
Long-term debt, excluding current portion - 2,026
Stockholders' equity 80,132 80,770
-------- --------
Total liabilities and stockholders' equity $92,827 $91,570
======== ========
KVH Industries, Inc.
CONTACT: Patrick Spratt of KVH Industries, +1-401-847-3327, or Christine Mohrmann of Financial Dynamics, +1-212-850-5600
Web site: http://www.kvh.com/
Lockheed Martin Announces First Quarter 2008 Results* First quarter earnings per share up 9% to $1.75* First quarter net earnings up 6% to $730 million* First quarter net sales up 8% to $10 billion* Cash from operations of $882 million for the quarter* Increased outlook for 2008 earnings per share and return on invested capital (ROIC)
BETHESDA, Md., April 22 /PRNewswire-FirstCall/ -- Lockheed Martin Corporation today reported first quarter 2008 net earnings of $730 million ($1.75 per diluted share), compared to $690 million ($1.60 per diluted share) in 2007. Net sales were $10.0 billion, an 8% increase over first quarter 2007 sales of $9.3 billion. Cash from operations for the first quarter of 2008 was $882 million, compared to $1.5 billion in 2007.
"We are off to an excellent start for 2008. Our first quarter results reflect continued progress on our commitment to build the world's premier global security company," said Bob Stevens, Chairman, President and CEO. "We are meeting this goal by building on our core capabilities and continuing to be responsive to customers while delivering greater value to them. This continued success reflects the efforts of our dedicated and talented employees who understand the important challenges facing our customers across the globe."
Summary Reported Results and Outlook
The following table presents the Corporation's results for the first quarter of 2008 and 2007, in accordance with generally accepted accounting principles (GAAP):
REPORTED RESULTS 1st Quarter
(In millions, except per share data) 2008 2007
Net sales $9,983 $9,275
Operating profit
Segment operating profit $1,150 $999
Unallocated corporate, net:
FAS/CAS pension adjustment 32 (14)
Unusual items, net 16 46
Stock compensation expense (35) (49)
Other, net 15 3
$1,178 $985
Interest expense 87 93
Other non-operating (expense) /
income, net(1) (7) 37
Earnings before income taxes 1,084 929
Income taxes 354 239
Net earnings $730 $690
Diluted earnings per share $1.75 $1.60
Cash from operations $882 $1,482
(1) Includes interest income and unrealized (losses) gains, net on
marketable securities held to fund certain employee benefit
obligations.
The following table and other sections of this press release contain forward-looking statements, which are based on the Corporation's current expectations. Actual results may differ materially from those projected. See the "Forward-Looking Statements" discussion contained in this press release.
2008 FINANCIAL OUTLOOK(1) 2008 Projections
(In millions, except per share
data and percentages) Current Update January 2008
Net sales $41,800 - $42,800 $41,800 - $42,800
Operating profit:
Segment operating profit $4,750 - $4,875 $4,715 - $4,840
Unallocated corporate
expense, net:
FAS/CAS pension adjustment 125 125
Unusual items, net 15 --
Stock compensation expense (155) (170)
Other, net (40) (65)
4,695 - 4,820 4,605 - 4,730
Interest expense (360) (345)
Other non-operating income /
(expense), net 45 145
Earnings before income taxes $4,380 - $4,505 $4,405 - $4,530
Diluted earnings per share $7.15 - $7.35 $7.05 - $7.25
Cash from operations >/= $4,200 >/= $4,200
ROIC(2) >/= 19.0% >/= 18.5%
(1) All amounts approximate
(2) See discussion of non-GAAP performance measures at the end of this
document
The majority of the $0.10 increase in the Corporation's projected 2008 diluted earnings per share results from higher projected segment operating profit in the Space Systems segment.
Other updated projections include:
* an assumption of lower full year average diluted shares outstanding as a
result of share repurchases in the first quarter;
* a reduction in expected stock compensation and other unallocated
corporate expenses;
* the benefit of a $0.02 per share gain recognized on an unusual item
during the first quarter of 2008 (see the discussion below the caption
"Unallocated Corporate Income (Expense), Net" for additional
information);
* a reduction in other non-operating income as a result of lower interest
rates on our invested cash balances and unrealized losses on marketable
securities held to fund certain employee benefit obligations; and
* an increase in interest expense as a result of the $500 million first
quarter debt issuance, described below.
It is the Corporation's practice not to incorporate adjustments to its outlook for proposed acquisitions, divestitures, joint ventures, or other unusual activities until such transactions have been consummated.
Balanced Cash Deployment Strategy
The Corporation continued to execute its balanced cash deployment strategy during the first quarter as follows:
* repurchased 11.3 million shares at a cost of $1.2 billion;
* paid cash dividends totaling $172 million; and
* made capital expenditures of $104 million.
Additionally, in March 2008, the Corporation issued $500 million of debt due in 2013 with a coupon rate of 4.121%.
Segment Results
The Corporation operates in four principal business segments: Aeronautics; Electronic Systems; Information Systems & Global Services (IS&GS); and Space Systems.
The following table presents the operating results of the four business segments and reconciles these amounts to the Corporation's consolidated financial results.
(In millions) 1st Quarter
2008 2007
Net sales
Aeronautics $2,807 $2,821
Electronic Systems 2,789 2,515
Information Systems & Global Services 2,504 2,145
Space Systems 1,883 1,794
Total net sales $9,983 $9,275
Operating profit
Aeronautics $323 $299
Electronic Systems 366 317
Information Systems & Global Services 230 198
Space Systems 231 185
Segment operating profit 1,150 999
Unallocated corporate income
(expense), net 28 (14)
Total operating profit $1,178 $985
The following discussion compares the operating results for the first quarter of 2008 to the first quarter of 2007.
Aeronautics
($ millions) 1st Quarter
2008 2007
Net sales $2,807 $2,821
Operating profit $323 $299
Operating margin 11.5% 10.6%
Net sales for Aeronautics were slightly lower for the first quarter of 2008 compared to the first quarter of 2007. The decrease in sales resulted from declines in Combat Aircraft that partially were offset by increases in Air Mobility. The decrease in Combat Aircraft mainly was due to lower volume on F-16 and F-117 programs, which more than offset increased F-22 and F-35 volume. The increase in Air Mobility mainly was due to higher volume on C-130 programs, which more than offset lower volume on the C-5 program.
Segment operating profit increased by 8% for the first quarter of 2008 from the first quarter of 2007. The increase in operating profit primarily was due to higher volume on C-130 programs in Air Mobility and improved performance on F-16 programs in Combat Aircraft.
Electronic Systems
($ millions) 1st Quarter
2008 2007
Net sales $2,789 $2,515
Operating profit $366 $317
Operating margin 13.1% 12.6%
Net sales for Electronic Systems increased by 11% for the first quarter of 2008 from the first quarter of 2007. The increase mainly was due to higher volume on fire control and tactical missile programs at Missiles & Fire Control (M&FC), and in surface systems and radar activities at Maritime Systems & Sensors (MS2).
Operating profit for Electronic Systems increased by 15% for the first quarter of 2008 compared to the first quarter of 2007. The increase primarily was attributable to higher volume and improved performance on fire control and tactical missile programs at M&FC and in surface systems and radar activities at MS2.
Information Systems & Global Services
($ millions) 1st Quarter
2008 2007
Net sales $2,504 $2,145
Operating profit $230 $198
Operating margin 9.2% 9.2%
Net sales for IS&GS increased by 17% for the first quarter of 2008 from the first quarter of 2007. Sales increased in all three of the segment's lines of business. Mission Solutions' sales grew due to higher volume on mission and combat support solutions. Information Systems' sales grew due to higher volume on information technology programs. Growth at Pacific Architects and Engineers contributed to the increase in sales in Global Services.
Operating profit for IS&GS increased by 16% for the first quarter of 2008 compared to the first quarter of 2007. Operating profit increased in Information Systems and Mission Solutions and remained relatively unchanged in Global Services. The increase in Information Systems primarily was due to a benefit from a contract restructuring during the first quarter of 2008. The increase in Mission Solutions mainly was due to the sales growth on mission and combat support solutions.
Space Systems
($ millions) 1st Quarter
2008 2007
Net sales $1,883 $1,794
Operating profit $231 $185
Operating margin 12.3% 10.3%
Net sales for Space Systems increased by 5% for the first quarter of 2008 from the first quarter of 2007. During the quarter, sales growth in Space Transportation partially was offset by declines in Strategic & Defensive Missile Systems (S&DMS) and Satellites. The sales growth in Space Transportation primarily was due to higher volume on the Orion program. S&DMS sales declined mainly due to lower volume in strategic missile programs. In Satellites, reduced volume in government satellite activities partially was offset by an increase in commercial satellite activities. There was one commercial satellite delivery in the first quarter of 2008 and no deliveries during the first quarter of 2007.
Segment operating profit increased by 25% for the first quarter of 2008 compared to the first quarter of 2007. During the quarter, increased operating profit at Space Transportation partially was offset by a decline in Satellites. In Space Transportation, the increase mainly was attributable to higher equity earnings on the United Launch Alliance joint venture and the results from successful negotiations of a terminated commercial launch services contract. In Satellites, the decrease mainly was due to lower volume on government satellite activities.
Unallocated Corporate Income (Expense), Net
($ millions) 1st Quarter
2008 2007
FAS/CAS pension adjustment $32 $(14)
Unusual items, net 16 46
Stock compensation expense (35) (49)
Other, net 15 3
Unallocated corporate
income (expense), net $28 $(14)
Consistent with the manner in which the Corporation's business segment operating performance is evaluated by senior management, certain items are excluded from the business segment results and included in "Unallocated corporate income (expense), net." See the Corporation's 2007 Form 10-K for a description of "Unallocated corporate income (expense), net," including the FAS/CAS pension adjustment.
The FAS/CAS pension adjustment (calculated as the difference between FAS 87 expense and the CAS cost amounts) switched to an income item in 2008 due to an increase in the discount rate and other factors such as actual return on plan assets. This change is consistent with the Corporation's previously disclosed assumptions used to compute these amounts.
For purposes of segment reporting, the following unusual items were included in "Unallocated corporate income (expense), net" for the first quarter of 2008 and 2007:
2008 -
* A gain, net of state income taxes, of $16 million representing the
recognition of a portion of the deferred net gain from the 2006 sale of
the Corporation's ownership interest in Lockheed Khrunichev Energia
International, Inc. (LKEI) and International Launch Services, Inc.,
(ILS). At the time of the sale, the Corporation deferred recognition of
the gain pending the expiration of its responsibility to refund advances
for future launch services. At March 30, 2008, a deferred gain (net of
federal and state taxes) of $57 million remains to be recognized as an
unusual item as future launch services are provided.
This item increased net earnings by $10 million ($0.02 per share) during the first quarter of 2008.
2007 -
* A gain, net of state income taxes, of $25 million related to the sale of
land; and
* Earnings, net of state income taxes, of $21 million related to the
reversal of legal reserves from the settlement of certain litigation
claims.
These items, along with the income tax benefit of $59 million ($0.14 per share) described below, increased net earnings by $89 million ($0.21 per share) during the first quarter of 2007.
Income Taxes
Our effective income tax rates for the first quarter of 2008 and 2007 were 32.7% and 25.7%. These rates were lower than the statutory rate of 35% for both periods due primarily to tax benefits for U.S. manufacturing activities and dividends related to our employee stock ownership plans. The research and development (R&D) credit, which expired December 31, 2007, further reduced the effective tax rate for the first quarter of 2007. Additionally, for the first quarter of 2007, income tax expense was reduced by $59 million ($0.14 per share) due to the completion of an IRS audit, which also reduced the effective tax rate for that quarter by 6.4%.
Headquartered in Bethesda, Md., Lockheed Martin employs approximately 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
Web site: http://www.lockheedmartin.com/
Conference call: Lockheed Martin will webcast the earnings conference call (listen-only mode) at 11 a.m. E.D.T. on April 22, 2008. A live audio broadcast, including relevant charts, will be available on the Investor Relations page of the company's web site at: http://www.lockheedmartin.com/investor.
FORWARD-LOOKING STATEMENTS
Statements in this release that are "forward-looking statements" are based on Lockheed Martin's current expectations and assumptions. Forward-looking statements in this release include estimates of future sales, earnings and cash flow. These statements are not guarantees of future performance and are subject to risks and uncertainties. Actual results could differ materially because of factors such as: the availability of government funding for our products and services both domestically and internationally; changes in government and customer priorities and requirements (including changes to respond to Department of Defense reviews, Congressional actions, budgetary constraints, cost-cutting initiatives, election cycles, terrorist threats and homeland security); the impact of continued military operations in Iraq and Afghanistan on funding for existing defense programs; the award or termination of contracts; return on pension plan assets, interest and discount rates and other changes that may impact pension plan assumptions; difficulties in developing and producing operationally advanced technology systems; the timing and customer acceptance of product deliveries; materials availability and performance by key suppliers, subcontractors and customers; charges from any future impairment reviews that may result in the recognition of losses and a reduction in the book value of goodwill or other long-term assets; the future impact of legislation, changes in accounting, tax rules, or export policies; the future impact of acquisitions or divestitures, joint ventures or teaming arrangements; the outcome of legal proceedings and other contingencies (including lawsuits, government/regulatory investigations or audits, and environmental remediation efforts); the competitive environment for the Corporation's products and services; and economic, business and political conditions domestically and internationally.
These are only some of the factors that may affect the forward-looking statements contained in this press release. For further information regarding risks and uncertainties associated with Lockheed Martin's business, please refer to the Corporation's SEC filings, including the "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Risk Factors," and "Legal Proceedings" sections of the Corporation's 2007 annual report on Form 10-K, which may be obtained at the Corporation's website: http://www.lockheedmartin.com/.
It is the Corporation's policy to only update or reconfirm its financial projections by issuing a press release. The Corporation generally plans to provide a forward-looking outlook as part of its quarterly earnings release but reserves the right to provide an outlook at different intervals or to revise its practice in future periods. All information in this release is as of April 21, 2008. Lockheed Martin undertakes no duty to update any forward-looking statement to reflect subsequent events, actual results or changes in the Corporation's expectations. We also disclaim any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.
NON-GAAP PERFORMANCE MEASURES
The Corporation believes that reporting ROIC provides investors with greater visibility into how effectively Lockheed Martin uses the capital invested in its operations. The Corporation uses ROIC to evaluate multi-year investment decisions and as a long-term performance measure, and also uses ROIC as a factor in evaluating management performance for incentive compensation purposes. ROIC is not a measure of financial performance under generally accepted accounting principles, and may not be defined and calculated by other companies in the same manner. ROIC should not be considered in isolation or as an alternative to net earnings as an indicator of performance.
The Corporation calculates ROIC as follows:
Net earnings plus after-tax interest expense divided by average invested capital (stockholders' equity plus debt), after adjusting stockholders' equity by adding back adjustments related to postretirement benefit plans.
(In millions, except percentages) 2008 Outlook
Current Update January 2008
Net Earnings Combined Combined
Interest Expense (multiplied by 65%) (1)
Return >/= $3,185 >/= $3,185
Average debt (2), (5)
Average equity (3), (5) Combined Combined
Average Benefit Plan Adjustments (4), (5)
Average Invested Capital < / = $16,750 < / = $17,200
Return on invested capital >/= 19.0% >/= 18.5%
(1) Represents after-tax interest expense utilizing the federal statutory
rate of 35%.
(2) Debt consists of long-term debt, including current maturities, and
short-term borrowings (if any).
(3) Equity includes non-cash adjustments, primarily for unrecognized
benefit plan actuarial losses and prior service costs, the adjustment
for the adoption of FAS 158 in 2006 and the additional minimum pension
liability in years prior to 2007.
(4) Average Benefit Plan Adjustments reflect the cumulative value of
entries identified in our Statement of Stockholders' Equity discussed
in Note 3.
(5) Yearly averages are calculated using balances at the start of the year
and at the end of each quarter.
LOCKHEED MARTIN CORPORATION
Consolidated Condensed Statement of Earnings
Unaudited
(In millions, except per share data and percentages)
QUARTER ENDED
March 30, 2008(a) March 25, 2007(a)
Net sales $9,983 $9,275
Cost of sales 8,914 8,365
1,069 910
Other income and expenses, net 109 75
Operating profit 1,178 985
Interest expense 87 93
Other non-operating income (expense), net (7) 37
Earnings before income taxes 1,084 929
Income tax expense 354 239
Net earnings $730 $690
Effective tax rate 32.7% 25.7%
Earnings per common share:
Basic $1.80 $1.64
Diluted $1.75 $1.60
Average number of shares outstanding:
Basic 406.6 421.4
Diluted 416.8 432.1
Common shares reported in stockholders'
equity at quarter end: 399.7 417.3
(a) It is our practice to close our books and records on the Sunday prior
to the end of the calendar quarter. The interim financial statements
and tables of financial information included herein are labeled based
on that convention.
A
LOCKHEED MARTIN CORPORATION
Net Sales, Segment Operating Profit and Margins
Unaudited
(In millions, except percentages)
QUARTER ENDED
March 30, 2008 March 25, 2007 % Change
Net sales:
Aeronautics $2,807 $2,821 (0%)
Electronic Systems 2,789 2,515 11%
Information Systems & Global
Services 2,504 2,145 17%
Space Systems 1,883 1,794 5%
Total net sales $9,983 $9,275 8%
Operating profit:
Aeronautics $323 $299 8%
Electronic Systems 366 317 15%
Information Systems & Global
Services 230 198 16%
Space Systems 231 185 25%
Segment operating profit 1,150 999 15%
Unallocated corporate income
(expense), net 28 (14)
$1,178 $985 20%
Margins:
Aeronautics 11.5% 10.6%
Electronic Systems 13.1 12.6
Information Systems & Global
Services 9.2 9.2
Space Systems 12.3 10.3
Total operating segments 11.5 10.8
Total consolidated 11.8% 10.6%
B
LOCKHEED MARTIN CORPORATION
Selected Financial Data
Unaudited
(In millions, except per share data)
QUARTER ENDED
March 30, 2008 March 25, 2007
Unallocated corporate income (expense),
net
FAS/CAS pension adjustment $32 $(14)
Unusual items, net 16 46
Stock compensation expense (35) (49)
Other, net 15 3
Unallocated corporate income (expense),
net $28 $(14)
QUARTER ENDED
March 30, 2008 March 25, 2007
FAS/CAS pension adjustment
FAS 87 expense $(116) $(171)
Less: CAS costs (148) (157)
FAS/CAS pension adjustment -
income / (expense) $32 $(14)
QUARTER ENDED MARCH 30, 2008
Operating Earnings
profit Net earnings per share
Unusual Items - 2008
Partial recognition of the deferred
gain from the 2006 sale of LKEI and
ILS $16 $10 $0.02
QUARTER ENDED MARCH 25, 2007
Operating Earnings
profit Net earnings per share
Unusual Items - 2007
Gain on sale of surplus land $25 $16 $0.04
Earnings from reversal of legal
reserves 21 14 0.03
Benefit from closure of an IRS audit - 59 0.14
$46 $89 $0.21
C
LOCKHEED MARTIN CORPORATION
Selected Financial Data
Unaudited
(In millions)
QUARTER ENDED
March 30, 2008 March 25, 2007
Depreciation and amortization of
plant and equipment
Aeronautics $42 $39
Electronic Systems 54 45
Information Systems & Global Services 16 15
Space Systems 36 29
Segments 148 128
Unallocated corporate expense, net 12 13
Total depreciation and amortization $160 $141
QUARTER ENDED
March 30, 2008 March 25,2007
Amortization of purchased intangibles
Aeronautics $13 $13
Electronic Systems 5 11
Information Systems & Global Services 13 15
Space Systems 2 2
Segments 33 41
Unallocated corporate expense, net 3 3
Total amortization of purchased intangibles $36 $44
D
LOCKHEED MARTIN CORPORATION
Consolidated Condensed Balance Sheet
Unaudited
(In millions, except percentages)
MARCH 30, DECEMBER 31,
2008 2007
Assets
Cash and cash equivalents $2,799 $2,648
Short-term investments 148 333
Receivables 5,413 4,925
Inventories 1,619 1,718
Deferred income taxes 732 756
Other current assets 469 560
Total current assets 11,180 10,940
Property, plant and equipment, net 4,258 4,320
Goodwill 9,399 9,387
Purchased intangibles, net 428 463
Prepaid pension asset 317 313
Deferred income taxes 824 760
Other assets 2,743 2,743
Total assets $29,149 $28,926
Liabilities and Stockholders' Equity
Accounts payable $1,906 $2,163
Customer advances and amounts in excess
of costs incurred 4,258 4,254
Other accrued expenses 3,606 3,350
Current maturities of long-term debt 104 104
Total current liabilities 9,874 9,871
Long-term debt, net 4,803 4,303
Accrued pension liabilities 1,311 1,192
Other postretirement and other noncurrent
liabilities 3,794 3,755
Stockholders' equity 9,367 9,805
Total liabilities and stockholders'
equity $29,149 $28,926
Total debt-to-capitalization ratio: 34% 31%
E
LOCKHEED MARTIN CORPORATION
Consolidated Condensed Statement of Cash Flows
Unaudited
(In millions)
QUARTER ENDED
March 30, 2008 March 25, 2007
Operating Activities
Net earnings $730 $690
Adjustments to reconcile net earnings
to net cash provided by operating
activities:
Depreciation and amortization 160 141
Amortization of purchased intangibles 36 44
Changes in operating assets and
liabilities:
Receivables (483) (281)
Inventories 99 285
Accounts payable (257) (131)
Customer advances and amounts in
excess of costs incurred 4 195
Other 593 539
Net cash provided by operating activities 882 1,482
Investing Activities
Expenditures for property, plant and
equipment (104) (84)
Sale of short-term investments, net 185 85
Acquisitions of businesses /
investments in affiliates (11) (95)
Other 1 79
Net cash provided by (used for) investing
activities 71 (15)
Financing Activities
Issuances of common stock and related amounts 64 149
Repurchases of common stock (1,185) (733)
Common stock dividends (172) -
Issuance of long-term debt and related costs 491 -
Repayments of long-term debt - (17)
Net cash used for financing activities (802) (601)
Net increase in cash and cash equivalents 151 866
Cash and cash equivalents at beginning of
period 2,648 1,912
Cash and cash equivalents at end of period $2,799 $2,778
F
LOCKHEED MARTIN CORPORATION
Consolidated Condensed Statement of Stockholders' Equity
Unaudited
(In millions)
Accumulated
Additional Other Total
Common Paid-In Retained Comprehensive Stockholders'
Stock Capital Earnings Loss Equity
Balance at
January 1, 2008 $409 $- $11,247 $(1,851) $9,805
Net earnings 730 730
Common stock
dividends (a) (172) (172)
Stock-based awards
and ESOP activity 2 174 176
Repurchases of
common stock (b) (11) (174) (1,000) (1,185)
Other comprehensive
income 13 13
Balance at
March 30, 2008 $400 $- $10,805 $(1,838) $9,367
(a) Includes dividends ($0.42 per share) declared and paid in the first
quarter.
(b) The Corporation repurchased 11.3 million shares of its common stock
for $1.2 billion during the first quarter. The Corporation has
21.4 million shares remaining under its share repurchase program as of
March 30, 2008.
G
LOCKHEED MARTIN CORPORATION
Operating Data
Unaudited
(In millions)
MARCH 30, DECEMBER 31,
2008 2007
Backlog
Aeronautics $25,300 $26,300
Electronic Systems 20,300 21,200
Information Systems & Global Services 12,200 11,800
Space Systems 16,900 17,400
Total $74,700 $76,700
QUARTER ENDED
Aircraft Deliveries March 30, 2008 March 25, 2007
F-16 9 9
C-130J 3 2
H
Lockheed Martin Corporation
CONTACT: Media: Tom Jurkowsky, +1-301-897-6352, or Investor Relations: Jerry Kircher, +1-301-897-6584, both of Lockheed Martin Corporation
Web site: http://www.lockheedmartin.com/ http://www.lockheedmartin.com/investor
Company News On-Call: http://www.prnewswire.com/comp/534163.html
Raptor Networks Technology and Pirelli to Demonstrate Virtual Chassis Performance Over Distance on Multi-Channel CWDM at Networld Interop
SANTA ANA, Calif., April 22 /PRNewswire-FirstCall/ -- Raptor Networks Technology, Inc. (BULLETIN BOARD: RPTN) , provider of the world's first distributed network switching architectures, announced today the successful completion of interoperability testing and chassis virtualization testing over distance with Pirelli's City+ CWDM & DWDM Multiservice platform. Recently, Pirelli created PGT Photonics, the new company within the Group specializing in second generation photonics and transport systems. Joint demonstrations of the two company's powerful and complementary technologies are planned for the upcoming Networld Interop Show in Las Vegas from April 22 - May 2, 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040429/RPTNLOGO)
"We are pleased to have validated interoperability with Pirelli's product line," noted Tom Wittenschlaeger, Raptor Networks' Chairman and CEO. "Our intent is to now support new joint business initiatives, showcasing the aggregate benefit that Pirelli's wavelength division multiplexing and transparent aggregation technologies, combined with Raptor's "distributed core" switching technologies provide. We will be demonstrating the ability to form a common virtual chassis from separate Raptor switch elements linked at 10 Gbps on Pirelli's optical transport system."
"We are pleased to collaborate with Raptor Networks to bring to market the value of the first distributed core switching combined with the optical bandwidth efficiency of the Pirelli City+ carrier-class system," added Pierluigi Franco, senior vice president, Sales & Marketing for Systems at PGT Photonics. "With the arrival of faster broadband access technologies, development of IPTV networks and the increased deployment of storage area networks (SAN), disaster recovery infrastructures, distributed computing and bandwidth intensive applications in the enterprise market, our systems, designed specifically for optimizing the metro and access networks will give clients even greater aggregate performance with an efficient Ethernet delivery technology from Raptor."
About Raptor Networks Technology, Inc
Raptor Networks Technology, Inc. has developed the world's first "distributed core" network switching architectures, all open-standards based, that benefit networks that provide newer latency-sensitive services such as video, VOIP, high speed server and storage clustering and the like. This patented Distributed Network Switching Technology enables new network build outs and performance upgrades of traditional chassis-based installations in a highly cost effective manner. Management believes that the unique advantage Raptor provides is speed over distance: data transport at wire speed, in hardware, between spatially separated network elements. Enhanced network reliability, lower power consumption and reduced form factor combine to enable significant savings in both acquisition costs as well as operating expense. Raptor's network switching products engender the feature set and versatility to run the most advanced new data applications.
For additional information please see, http://www.raptor-networks.com/.
About PGT Photonics
PGT Photonics, headquartered in Milan, is a new high-tech optical company within the Pirelli Group. It incorporates the former Photonics business unit of Pirelli Broadband Solutions and the Optical Innovation division of Pirelli Labs. The new company will exploit its technological achievements in nanotechnology and silicon-based photonics to deliver a wide range of optical components, modules and system all designed for next-generation networks. At the core of the product portfolio is Pirelli's Dynamically Tunable Laser, Integrable Tunable Laser Assembly (ITLA), 300-PIN MSA Transponders, DWDM XFP Transceivers, and City+ CWDM & DWDM Platform. PGT Photonics is fully owned and operated by Pirelli & C. S.p.A. For more information, visit http://www.pirelli.com/.
Safe Harbor Statement
The statements in this release relating to future product availability, collaboration and partnership, and positive direction are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Some or all of the aspects anticipated by these forward-looking statements may not, in fact, occur. Factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties, demand for Raptor Networks' products, the future market price of RPTN common stock and the Company's ability to obtain necessary future financing.
Contacts:
Raptor Networks Technology, Inc.
Tom Wittenschlaeger, CEO
Bob Van Leyen, CFO
949-623-9300
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20040429/RPTNLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Raptor Networks Technology, Inc.
CONTACT: Tom Wittenschlaeger, CEO, or Bob Van Leyen, CFO, both of Raptor Networks Technology, Inc., +1-949-623-9300
Web site: http://www.raptor-networks.com/ http://www.pirelli.com/
Overland Storage Appoints Ravi Pendekanti Vice President of MarketingIndustry Veteran from SGI and Sun Microsystems Joins Executive Management Team to Spearhead Worldwide Marketing Efforts
SAN DIEGO, April 22 /PRNewswire-FirstCall/ -- Overland Storage, Inc. today announced the appointment of Ravi Pendekanti as vice president of marketing. In this position, Pendekanti will leverage his extensive marketing and product management experience as well as proven expertise in storage and server systems management to lead the company's global marketing initiatives.
"We are extremely pleased to welcome Ravi to our executive team as the head of global marketing," says Vern LoForti, president and chief executive officer of Overland Storage. "His impressive accomplishments and in-depth industry knowledge will prove instrumental as Overland continues to develop strategic product plans and innovative marketing programs that support our channel partners while serving the needs of our growing base of worldwide customers."
Previously, Pendekanti managed the industry marketing and solutions engineering teams associated with selling global solutions at SGI. Prior to that, he held various leadership positions within the intellectual property and reference architectures marketing groups at Sun Microsystems. During his tenure at Sun, Pendekanti earned the coveted Chairman's Award for his innovative marketing efforts involving the storage and server product lines, which became the foundation for the company's highly successful solution sales approach. Pendekanti also served as vice president of worldwide marketing at Intransa and held various marketing positions at Compuware and HP.
"I am thrilled to join Vern and the rest of the Overland team and further reinforce the company's tremendous brand recognition with high-impact marketing programs and best-of-class products that solve real-world business problems," says Pendekanti. "The best is yet to come for Overland as the company's awesome talent pool, broad product line and long-standing relationships with loyal channel partners serve as essential ingredients for ground-breaking marketing programs that produce high rates of success."
Pendekanti holds a master's degree in Computer Science from Florida Institute of Technology and a bachelor's degree in Electrical Engineering from Kakatiya University.
About Overland Storage
Now in its 27th year, Overland Storage is a market leader and innovative provider of smart, affordable data protection appliances that help midrange and distributed enterprises ensure business-critical data is constantly protected, readily available and always there. Overland's award-winning products include NEO SERIES(R) and ARCvault(TM) tape libraries, REO SERIES(R) disk-based appliances with Virtual Tape Library (VTL) capabilities and ULTAMUS(TM) RAID high-performance, high-density storage. Overland sells its products through leading OEMs, commercial distributors, storage integrators and value-added resellers. For more information, visit Overland's web site at http://www.overlandstorage.com/
Overland, Overland Storage, REO Series, REO, NEO Series, NEO, ARCvault Series, ARCvault and ULTAMUS are trademarks of Overland Storage, Inc.
Overland Storage, Inc.
CONTACT: Sue Hetzel of HetzelMeade Communications, +1-760-434-9927, sue@hetzelmeade.com for Overland Storage, Inc.
Web site: http://www.overlandstorage.com/
Telanetix Announces New Demonstration CenterCompany Announces its Tenth Digital Presence Demonstration Center in North America
SAN DIEGO, April 22 /PRNewswire-FirstCall/ -- Telanetix, Inc. (OTC BB: TNXI), a leading IP solutions provider offering telepresence and VoIP services to the SMB and SME markets, today announced the opening of a new demonstration center in Alexandria, VA.
The new Digital Presence demonstration center is located at the offices of Damiano Global Corp, located at 400 Cameron Station Blvd in Alexandria, VA.
"Though our customers are IT professionals, and therefore tech savvy, Digital Presence is something you have to experience to truly appreciate," said Frank Damiano, president of Damiano. "This demo center will allow us to highlight the powerful feature set, flexibility and affordable price point in a hands-on environment."
"The partnership with Damiano is a continuation of our unique distribution model, and will help us gain additional traction in the Mid-Atlantic region," said Chris Calbi, Telanetix director of channel sales. "Coupled with the recent launch of a European distributor, our strategy for an expanded sales channel is coming to fruition."
Telanetix's Digital Presence is a unique technology that creates a fully immersive and interactive high-end video conferencing experience that integrates audio, video, and data from multiple locations into a single environment regardless of geographic boundaries. The display screens deliver full size, face-to-face images of real-time video, audio, and data in high quality resolution at up to 60 frames per second. This creates an experience that is so profoundly real that users feel as if they are all present in the same room. Telanetix developed technology which includes advanced encoders, decoders, traffic shaping, data sharing and more, on a flexible hardware and software platform that has effectively replaced the endpoints and central videoconferencing bridge of legacy systems with a high quality, decentralized IP solution. Operation is simplified through the user interface, which is intuitive and easy to use, and the system does not require a dedicated network.
About Telanetix, Inc.
Telanetix is a leading IP solutions provider offering telepresence and advanced communication services to the SMB and SME markets. By leveraging on ubiquitous network infrastructures, Telanetix's solutions meet the real-world communications demands of its customers. The company's core technologies include a Telepresence offering, called Digital Presence(TM), designed to create fully immersive and interactive meeting environments that incorporate voice, video and data from multiple locations into a single environment; and IP enabled enhanced services that give companies flexible calling solutions at a fraction of the price of traditional telecom providers. Additional information can be found at the Telanetix corporate website, http://www.telanetix.com/.
Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The companies undertake no obligation to publicly release statements made to reflect events or circumstances after the date hereof.
Telanetix, Inc.
CONTACT: Rick Ono of Telanetix, Inc., +1-858-362-2250, rick@telanetix.com; or investor relations, Jim Blackman of PR Financial Marketing, +1-713-256-0369, jim@prfmonline.com; or media, Todd Barrish of Dukas PR, +1-212-704-7385, todd@dukaspr.com, both for Telanetix, Inc.
Web site: http://www.telanetix.com/
Anixter International Inc. Reports First Quarter Net Income of $1.45 per Diluted Share on Sales of $1.47 Billion
GLENVIEW, Ill., April 22 /PRNewswire-FirstCall/ -- Anixter International Inc. , a leading global distributor of communication products, electrical and electronic wire & cable and a leading distributor of fasteners and other small parts ("C" Class inventory components) to Original Equipment Manufacturers ("OEMs"), today reported results for the quarter ended March 28, 2008.
First Quarter Highlights
-- Sales of $1.47 billion, including $12.3 million from acquisitions
completed over the past twelve months, rose 11 percent compared to
sales of $1.33 billion in the year ago quarter.
-- Quarterly operating income of $101.5 million reflected a 12 percent
increase from the $90.4 million reported in the first quarter of 2007.
-- Net income in the quarter increased 8 percent to $57.7 million, or
$1.45 per diluted share, from $53.6 million, or $1.27 per diluted
share, in the year ago quarter. The first quarter 2008 results include
a gain of $1.6 million or 4 cents per diluted share related to foreign
tax benefits associated with the recognition of net operating loss
carryforwards, while the year ago quarter includes a gain of $3.4
million or 8 cents per diluted share for tax benefits related to the
settlement of certain income tax audits. After excluding the effects of
these tax items from net income and diluted earnings per share, first
quarter 2008 net income rose 12 percent and diluted earnings per share
rose 18 percent.
-- Cash flow generated from operations was $55.4 million compared to $65.8
million in the year ago quarter.
Financial Highlights
(In millions, except per share amounts)
Three Months Ended
March 28, March 30, Percent
2008 2007 Change
Net Sales $1,471.6 $1,328.7 11%
Operating Income $101.5 $90.4 12%
Net Income $57.7 $53.6 8%
Diluted Earnings Per Share $1.45 $1.27 14%
Diluted Weighted Shares 39.8 42.0 -5%
Robert Grubbs, President and CEO, stated, "We are very pleased to report
double digit increases in sales, operating profits and earnings per
diluted share over the prior year quarter. The multiple end markets we
serve, the diversity of industries in which our customers operate and the
broad geographies over which our business is conducted have given us the
ability to sustain overall growth despite certain economic concerns. We
believe the diversity and depth of our business will continue to work to
our shareholders' benefit regardless of broader economic conditions."
First Quarter Results
For the three-month period ended March 28, 2008, sales of $1.47 billion produced net income of $57.7 million, or $1.45 per diluted share. Included in the current year's first quarter results were sales of $12.3 million from acquisitions completed in the past year. After adjusting for acquisitions as well as the favorable foreign exchange impact of $43.5 million, first quarter sales grew at a year-over-year organic rate of 7 percent. Net income in the current quarter includes a gain of $1.6 million, or 4 cents per diluted share, related to foreign tax benefits associated with the recognition of net operating loss carryforwards. Exclusive of these tax benefits, net income was $56.1 million or $1.41 per diluted share.
In the prior year period, sales of $1.33 billion generated net income of $53.6 million, or $1.27 per diluted share. The first quarter 2007 results included a gain of $3.4 million, or 8 cents per diluted share, of net income related to the settlement of certain income tax audits. Exclusive of this gain, net income was $50.2 million or $1.19 per diluted share.
Operating income in the first quarter increased 12 percent to $101.5 million as compared to $90.4 million in the year ago quarter. For the current quarter, operating margins were 6.9 percent compared to 6.8 percent in the first quarter of 2007.
First Quarter Sales Trends
Commenting on first quarter sales trends, Bob Eck, Executive Vice President and Chief Operating Officer said, "After more than two years in which sales growth was consistently broad based over the various customer end markets and geographies we serve, the first quarter of 2008 exhibited more divergent growth rates. Also, as compared to the year ago first quarter, the first quarter of 2008 reflects an unfavorable impact from holidays due to the timing of the New Year and Easter. Importantly, we continued to make significant progress on our major initiatives during the quarter, including growing in new markets. Our efforts to expand the company's presence in the security market took another encouraging step forward in the first quarter as year-on-year sales rose 34 percent. In the electrical wire & cable market our initiative to expand our presence in Europe made very good progress with year-on-year sales growth of 45 percent."
"In North America we saw sales grow by 10 percent to $1.02 billion in the quarter," continued Eck. "Foreign exchange contributed $21.7 million to first quarter sales as compared to the year ago quarter. Excluding the effects of foreign exchange, sales grew at an organic rate of 7 percent. With an 18 percent increase versus the year ago quarter, sales growth was highest in the electrical wire & cable market, due to continued strong levels of project activity. While spot market copper prices in the first quarter were up approximately 30 percent from the year ago period, they did not have a meaningful effect on sales growth due to the competitive market conditions in a softer economy that limited the amount of price increases that were actually achieved in the marketplace. Sales in the OEM supply end market were up 9 percent with continued strong growth in the aerospace and defense market. Lastly, enterprise cabling and security sales were up a combined 5 percent year-on-year in North America."
"Total European sales rose 11 percent versus the year ago quarter to $340.0 million. European sales were aided by favorable foreign exchange and acquisitions, which added $17.8 million and $12.3 million, respectively, to first quarter 2008 sales," Eck said. "Sales growth in Europe was highest in the electrical wire & cable market, where we reported a 45 percent year-on-year increase. In the OEM supply market sales grew $22.4 million or 16 percent, including the $12.3 million of sales associated with acquisitions. Sales in the enterprise cabling and security market fell by 7 percent primarily due the timing of holidays and lower project volumes, particularly in the U.K. market where the year ago first quarter had exceptionally strong project activity."
Eck added, "In the emerging markets sales grew by $18.2 million or 19 percent including $4.0 million of favorable effects related to foreign exchange rates. The lower growth rates that posted in recent quarters was largely a result of slower project growth in Asia."
First Quarter Operating Results
"First quarter operating margins were 6.9 percent compared to 6.8 percent in the year ago quarter," commented Eck. "While sales were up 11 percent, organic growth was 7 percent. As compared to the first quarter of last year, gross margins experienced some pressure in the electrical wire & cable market on a global basis and in the OEM supply market in Europe. At the same time, we have continued to invest in people to drive our initiatives of expanding our security business, the global reach of the electrical wire & cable business and our initial efforts in the factory automation market. Some of the factors pressuring gross margins in the first quarter are being mitigated through pricing actions. When combined with seasonal pick-ups in sales volumes, which should improve operating leverage, we anticipate higher operating margins during the year."
Eck continued, "In North America, our operating margins were 7.9 percent as compared to 7.6 percent in the year ago quarter, as sales growth and good expense control offset slightly lower gross margins to generate additional operating leverage. In Europe, operating margins in the most recent quarter were 4.1 percent as compared to 4.6 percent in the year ago quarter. This decline in operating margins is largely within the OEM supply business. The lower OEM supply operating margins reflect a combination of lower gross margins, costs associated with the closing of one facility, increased costs associated with preparations for business IT system conversions starting in 2009 and costs for development of expanded Asian product sourcing capabilities. In the emerging markets, continued sales growth has increased operating leverage and produced operating margins of 6.1 percent in the first quarter of this year compared to 5.7 percent in the year ago period."
Cash Flow and Leverage
"In the first quarter we generated $55.4 million in cash from operations as compared to the $65.8 million generated in the year ago quarter," said Dennis Letham, Chief Financial Officer. "A significant portion of the first quarter cash flow from operations was used to repurchase 750,000 of the company's outstanding shares at a cost of $41.7 million."
Letham added, "At the end of the first quarter the company had a debt-to-total capital ratio of 49.2 percent as compared to 49.4 percent at the end of 2007. Furthermore, for the first quarter the weighted-average cost of borrowed capital was 4.2 percent as compared to 4.8 percent in the year ago quarter. At the end of the first quarter, approximately 75 percent of our total borrowings of $1.04 billion had fixed interest rates, either by the terms of the borrowing agreements or through hedging contracts. We also had $242 million of available, unused credit facilities at March 28, 2008, which provide us with the resources to support continued strong organic growth and to pursue other strategic alternatives, such as acquisitions, throughout the remainder of the year."
Business Outlook
Eck concluded, "While there were a number of customer-specific situations where spending was reduced in response to slower economic conditions, we do not believe this represents a broader trend. Overall, we are encouraged by the fact that our backlog grew slightly during the first quarter and activity levels show the prospect for continued year-on-year sales growth. It should be noted that in 2007 we experienced unusually strong 14 percent consecutive quarter growth between the first and second quarter that was more than twice historical seasonal patterns and leaves us with a difficult year-on-year comparison for the upcoming second quarter. Nonetheless, we expect to report not only consecutive quarter sales growth in the second quarter, but also year-on-year sales growth over the very strong second quarter of 2007."
"We remain focused on building on our strategic initiatives including growing our security and OEM supply businesses, initiating an industrial automation network sales effort, adding to our supply chain services offering, enlarging the geographic presence of our electrical wire & cable business, and expanding our product offering. Short-term macro-economic conditions may slow our organic sales growth from the rates of the past couple of years, which when combined with the investment in these initiatives may limit near-term earnings growth. We believe, however, that continued focus, investment and successful execution on these strategies will drive full-year and longer-term growth and profitability of the business."
First Quarter Earnings Report
Anixter will report results for the 2008 first quarter on Tuesday, April 22, 2008 and broadcast a conference call discussing them at 9:30 am central time. The call will be Webcast by CCBN and can be accessed at Anixter's Website at http://www.anixter.com/webcasts. The Webcast also will be available over CCBN's Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through CCBN's individual investor center at http://www.companyboardroom.com/, or by visiting any of the investor sites in CCBN's Individual Investor Network (such as America Online's Personal Finance Channel and Fidelity.com). Institutional investors can access the call via CCBN's password-protected event management site, StreetEvents (http://www.streetevents.com/). The Webcast will be archived on all of these sites for 30 days.
About Anixter
Anixter International is a leading global distributor of communication products, electrical and electronic wire & cable and a leading distributor of fasteners and other small parts ("C" Class inventory components) to Original Equipment Manufacturers. The company adds value to the distribution process by providing its customers access to 1) innovative inventory management programs, 2) more than 400,000 products and over $1 billion in inventory, 3) 218 warehouses with more than 6 million square feet of space, and 4) locations in 249 cities in 49 countries. Founded in 1957 and headquartered near Chicago, Anixter trades on The New York Stock Exchange under the symbol AXE.
Safe Harbor Statement
The statements in this news release that use such words as "believe," "expect," "intend," "anticipate," "contemplate," "estimate," "plan," "project," "should," "may," or similar expressions are forward-looking statements. They are subject to a number of factors that could cause the company's actual results to differ materially from what is indicated here. These factors include general economic conditions, technology changes, changes in supplier or customer relationships, commodity price fluctuations, exchange rate fluctuations, new or changed competitors and risks associated with integration of recently acquired companies. Please see the company's Securities and Exchange Commission filings for more information.
Additional information about Anixter is available on the Internet at
http://www.anixter.com/
ANIXTER INTERNATIONAL INC.
Condensed Consolidated Statements of Operations
13 Weeks Ended
March 28, March 30,
(In millions, except per share amounts) 2008 2007
Net sales $1,471.6 $1,328.7
Cost of goods sold 1,123.1 1,010.3
Gross profit 348.5 318.4
Operating expenses 247.0 228.0
Operating income 101.5 90.4
Interest expense (11.5) (10.9)
Other, net (0.3) 0.7
Income before income taxes 89.7 80.2
Income tax expense 32.0 26.6
Net income $57.7 $53.6
Net income per share:
Basic $1.61 $1.42
Diluted $1.45 $1.27
Average shares outstanding:
Basic 35.9 37.8
Diluted 39.8 42.0
Geographic Segments
Net sales:
North America $1,016.8 $927.0
Europe 340.0 305.1
Asia Pacific and Latin America 114.8 96.6
$1,471.6 $1,328.7
Operating income:
North America $80.6 $70.8
Europe 13.9 14.0
Asia Pacific and Latin America 7.0 5.6
$101.5 $90.4
ANIXTER INTERNATIONAL INC.
Condensed Consolidated Balance Sheets
March 28, December 28,
(In millions) 2008 2007
Assets
Cash and cash equivalents $59.3 $42.2
Accounts receivable, net 1,208.3 1,215.9
Inventories 1,095.0 1,065.0
Deferred income taxes 38.1 37.6
Other current assets 21.1 18.2
Total current assets 2,421.8 2,378.9
Property and equipment, net 81.3 78.1
Goodwill 407.7 403.2
Other assets 155.0 156.0
$3,065.8 $3,016.2
Liabilities and Stockholders' Equity
Accounts payable $684.9 $654.8
Accrued expenses 168.9 201.0
Short-term debt 93.7 84.1
Total current liabilities 947.5 939.9
1.0% convertible senior notes 300.0 300.0
Revolving lines of credit and other 285.8 275.0
5.95% senior notes 200.0 200.0
3.25% zero coupon convertible notes 163.5 162.2
Other liabilities 92.0 91.3
Total liabilities 1,988.8 1,968.4
Stockholders' equity 1,077.0 1,047.8
$3,065.8 $3,016.2
Anixter International Inc.
CONTACT: Dennis Letham, Chief Financial Officer of Anixter International Inc., +1-224-521-8601; or Investor and Media, Chris Kettmann of Ashton Partners, +1-312-553-6716, for Anixter International Inc.
Web site: http://www.anixter.com/
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